ARHT Media Announces Second Quarter 2021 Results
July 27 2021 - 8:30AM
ARHT Media Inc. (“ARHT” or “the Company”)
(TSXV:ART), the global leader in the development,
production and distribution of high-quality, low latency hologram
and digital content, today announced its financial results for the
second quarter ended June 30, 2021.
Second Quarter 2021 Financial Update
- Revenues for the second quarter of 2021 were $1.21 million,
compared to $42 thousand in the second quarter of 2020;
- Net loss for the second quarter of 2021 was $1.28 million
(before loss on debenture repayment of $298k), compared to $560
thousand for the same period in 2020;
- Cash and cash equivalents were $4.17 million as of June 30,
2021
Second Quarter 2021 Business Updates
- The Company continued to build out its recurring revenue
business with the permanent installation of three
HoloPod™ solutions, the addition of four large new
clients – representing potential for recurring business –
and 85% of Q2 revenue derived from repeat clients
- ARHT reached record demand in June, reigning in a total of 14
Virtual Global Stage™ presentations, 2
HoloPresence™ presentations, and 4 Hardware Sales Transactions
in Q2
- The Company progressed its previously announced strategic
partnership with WeWork as the first installations are underway,
and one more location was added in the initial phase of rollouts,
totaling 17 expected office installations in 2021
- ARHT leveraged its Dubai distributor, NMK Electronics, to
introduce its innovative holographic technology in the Middle East,
with its HoloPresence™ solution featured during the Arab
Health 2021 Conference
- The Company brought its HoloPresence™ Technology to the
Jeju Peace Forum for the former President of France, Francois
Hollande, adding to the growing list of heads and state government
leaders that have taken advantage of ARHT’s holographic
presentation technology
“We achieved record revenue growth of 393% in the first half of
the year driven by our ability to generate repeat sales from
existing clients and add new customers, positioning us ahead of our
2019 trajectory and back towards growth following the height of the
COVID-19 pandemic in 2020. Especially encouraging was the fact that
85% of revenue came from repeat and recurring clients – which
demonstrates the “stickiness’ of our offering,” commented Larry
O’Reilly Chief Executive Officer of ARHT Media. “In addition, we
have started installations with our WeWork partnership which will
build the world’s first HoloPresence network. We are budgeting $2
million in revenue in 2022 from these first 17 locations plus this
network will be of tremendous benefit to our other permanent
installed locations and event activations. We expect the second
half of 2021 to continue along our growth trend with increasingly
more demand for recurring revenue products such as our HoloPod™,
where we permanently install the technology which generate
transmission and maintenance fees on an annual basis.”
About ARHT Media ARHT Media’s patented
HoloPresence technology is a complete end-to-end solution that
creates a sense of presence for audiences – as though the
holographic presenter was actually live in the room. With no
noticeable latency, ARHT Media makes two-way live communication
with a 3D holographic presenter anywhere in the world possible. We
can also playback pre-recorded content and 3D animations on our
HoloPresence displays to deliver rich holographic experiences. Add
to this our capability to stream the same content online on our
premium Virtual Global Stage™.
Connect with ARHT Media Twitter:
http://www.twitter.com/ARHTmedia Facebook:
http://www.facebook.com/ARHTmediainc LinkedIn:
http://www.linkedin.com/company/arht-media-inc-
For more information, please visit www.arhtmedia.com or contact
the investor relations group at info@arhtmedia.com.
ARHT Media trades under the symbol “ART” on the Toronto Venture
Stock Exchange.
Press ContactSalman AminARHT
Mediasamin@arhtmedia.com
Investor ContactPhil CarlsonKCSA Strategic
Communications212-896-1233ARHT@kcsa.com
This press release contains “forward-looking information” within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
disclosure related to the Company’s sales funnel; the Company’s
technology; the potential uses for the Company’s technology; the
future planned events using the Company’s technology; the future
success of the Company; the ability of the Company to monetize the
ARHT Media technology; the development of the Company’s technology;
and interest from parties in ARHT’s products. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will be taken”, “occur” or “be achieved”. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: general
business, economic and competitive uncertainties; regulatory risks;
risks inherent in technology operations; and other risks of the
technology industry. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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