Oblong Inc Stock Price, News & Analysis

Oblong, Inc. (Nasdaq: OBLG) has announced that it has regained compliance with Nasdaq's minimum bid price requirement as per Rule 5550(a)(2). This notice from The Nasdaq Stock Market LLC indicates that Oblong's compliance issue is now resolved. Oblong is known for its innovative multi-stream collaboration solutions, including its flagship product Mezzanine™, which enhances remote meeting experiences through simultaneous content sharing.

The closure of this compliance matter may positively influence investor confidence and the company's standing in the stock market.

Oblong, Inc. (Nasdaq: OBLG) has announced a 1-for-15 reverse stock split effective at 5:00 PM ET on January 3, 2023, with shares trading on a split-adjusted basis starting January 4, 2023. The split aims to increase the per share trading value to comply with Nasdaq Capital Market’s listing standards, reducing the number of shares from approximately 30.8 million to about 2.1 million. This action, approved by stockholders, does not affect ownership percentages, and fractional shares will be rounded up. A new CUSIP number will be assigned.

Oblong, Inc. (Nasdaq: OBLG) reported third-quarter 2022 results, revealing total revenue of $1.2 million, a decrease from $1.8 million in Q3 2021. The company faced a net loss of $7.2 million compared to a net loss of $0.7 million in the same period last year. Notably, Oblong recorded non-cash impairment charges of $5.2 million. The adjusted EBITDA loss was $1.4 million, improving from $1.7 million in Q3 2021. With $4.1 million in cash and no debt, Oblong aims for growth through various strategic avenues, including potential business combinations.

Oblong, Inc. (Nasdaq: OBLG) will announce its third-quarter results for the period ending September 30, 2022, on November 10, 2022, following the market close. A conference call is scheduled for the same date at 4:30 P.M. ET, where management will provide a business update. CEO Peter Holst and CFO David Clark will participate in the call. Investors can access the call through a provided link and dial-in numbers. A replay will be available starting November 10, 2022, at 7:30 P.M. ET for two weeks.

Oblong, Inc. (Nasdaq: OBLG) has received a 180-day extension from Nasdaq to comply with the minimum bid price requirement, now set for February 13, 2023. The company must maintain a bid price of $1.00 for ten consecutive days to regain compliance. If Oblong fails to do so, it faces potential delisting, although it can appeal such a decision. The notification does not immediately affect trading. Oblong monitors its stock price closely and may explore options to regain compliance.

Oblong, Inc. (Nasdaq: OBLG) reported Q2 2022 financial results, showing a total revenue of $1.3 million, down from $2.0 million in Q2 2021, reflecting ongoing shifts in hybrid work models. The company reported a net loss of $9.0 million, significantly higher than the $2.2 million loss from the same period last year. Non-cash impairment charges totaled $6.4 million. Adjusted EBITDA loss improved slightly to $1.5 million from $1.6 million year-over-year. Oblong holds $5.1 million in cash and has no debt while exploring strategic alternatives to enhance shareholder value.

Oblong, Inc. (Nasdaq: OBLG) will announce its second-quarter financial results on August 9, 2022, after market close. Following the announcement, a conference call will take place at 4:30 P.M. ET to discuss the results and provide a business update. Interested parties can join the call using the provided U.S. and international dial-in numbers, with a Conference ID of 933 9182 6206. A replay will be accessible from August 9, 2022, at approximately 7:30 P.M. ET for two weeks.

Oblong, Inc. (Nasdaq: OBLG) reported Q1 2022 financial results with total revenue of $1.5 million, a decline from $1.9 million in Q1 2021. The company faced a net loss of $4.5 million, compared to $3.4 million in the previous year. An impairment charge of $1.1 million on goodwill was recorded. The Adjusted EBITDA loss stood at $2.5 million, slightly up from $2.4 million in Q1 2021. Oblong highlights the shift towards hybrid work environments, leading to potential growth opportunities for its products.

Oblong, Inc. (Nasdaq: OBLG) will release its first quarter results for the period ending March 31, 2022, on May 11, 2022, after market close. A conference call is scheduled for the same day at 4:30 PM ET, featuring CEO Peter Holst and CFO David Clark. Participants can join via U.S. or international dial-in numbers or through a webinar link. A replay of the call will be available for two weeks starting approximately at 7:30 PM ET on May 11, 2022.