Oblong Inc Stock Price, News & Analysis

Oblong, Inc. (Nasdaq: OBLG) will present at the Access to Giving Virtual Conference on July 14, 2021, at 2 p.m. ET. The free conference allows companies to share their stories and meet with qualified investors, aimed at raising funds for charity. Oblong's Chairman and CEO, Pete Holst, will lead the presentation. Oblong specializes in innovative technologies for collaboration, including the Mezzanine™ remote meeting platform. Interested participants can register for the conference and schedule one-on-one meetings with Oblong management.

Oblong, Inc. (Nasdaq: OBLG) announced a registered direct offering of 4,000,000 shares at $3.10 per share, raising estimated gross proceeds of $12.4 million. The company will also issue Series A and Series B warrants for additional capital. Series A warrants permit the purchase of 1,000,000 shares at $4.00, and Series B warrants allow for 3,000,000 shares at $4.40, potentially generating up to $17.2 million more. Proceeds will be used for general corporate purposes. Closing is expected around June 30, 2021, pending customary conditions.

Oblong (Nasdaq: OBLG) will join the Russell Microcap® Index after the annual reconstitution, effective June 28, 2021. This selection enhances the company's visibility among investors and access to a broader audience for its strategies and initiatives. The Russell indexes are widely utilized by investment managers, with approximately $10.6 trillion in assets benchmarked against them. Oblong is recognized for its innovative collaboration solutions, including the Mezzanine™ platform, which serves Fortune 500 companies.

Oblong, Inc. (Nasdaq: OBLG) reported its Q1 2021 financial results, revealing a total revenue of $1.9 million, down from $5.3 million in Q1 2020. Product sales for the Mezzanine™ collaboration suite experienced a significant decline to $0.3 million from $1.7 million. The net loss expanded to $3.4 million, compared to $3.1 million the previous year. The gross profit margin fell to 33% versus 55% in Q1 2020. Despite the challenges, Oblong remains optimistic about future growth as companies prepare for a return to office environments, emphasizing the importance of its upcoming Mezzanine Cloud product.

Oblong, Inc. (Nasdaq: OBLG) will release its first quarter results on May 13, 2021, after market close. A conference call will follow at 4:30 PM ET, featuring CEO Peter Holst and CFO David Clark. U.S. callers can dial 1-866-269-4262, while international participants can use 1-856-344-9207. The conference ID is 7727484. A live webcast will also be available. A replay of the call can be accessed for two weeks following the event.

Oblong is known for its innovative collaboration technologies, particularly the Mezzanine™ platform utilized by Fortune 500 companies.

Oblong, Inc. (Nasdaq: OBLG) announces its participation in several upcoming investor conferences over the next 60 days. Key dates include:

• May 13-14: Benzinga Virtual Global Small Cap Conference
• May 20: NYC Microcap Conference Sidoti & Company
• May 25-27: Money Show Accredited Investors Virtual Expo
• June 9-10: LD Microcap Invitational Conference in Los Angeles

Chairman and CEO Pete Holst will present, and all presentations will be webcast live. Oblong specializes in innovative technologies, notably the Mezzanine™ platform.

Oblong, Inc. (Nasdaq: OBLG) announced its fourth quarter and fiscal year 2020 results, showcasing strong financial growth. Q4 product sales surged over 50% sequentially to $1.6 million, while total revenue rose over 20% to $3.9 million. The gross profit margin improved to 59%. Oblong reported a net income of $1.2 million, contrasting with previous quarters' losses. The company also noted a non-cash gain of $3.1 million from debt extinguishment. With a cash balance of $5.3 million, Oblong entered 2021 optimistic about its Mezzanine™ collaboration suite.

Oblong, Inc. (Nasdaq: OBLG) will announce its fourth-quarter and year-end results for 2020 on March 30, 2021, post-market close. The company will hold a conference call at 4:30 PM ET, featuring CEO Peter Holst and CFO David Clark. Interested participants can join via U.S. and international dial-in numbers, as well as through a live webcast. A replay of the call will be available for two weeks following the event. Oblong specializes in collaboration solutions, with its flagship product, Mezzanine™, serving Fortune 500 clients.

Oblong (Nasdaq: OBLG) reported preliminary unaudited financial results for Q4 2020, indicating a significant turnaround. Product sales from the Mezzanine™ collaboration suite surged over 50% sequentially to $1.6 million, and total revenue increased more than 20% to $3.9 million. Gross profit margin rose to 57%, and the company achieved a net income of $1.4 million, compared to losses in previous quarters. Oblong also reported a cash balance of $5.3 million and no debt, apart from a $2.4 million PPP loan expected to be forgiven.