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For Q2 2020, Rosetta Stone (NYSE:RST) reported a 7% increase in revenue to $49.2 million. The Literacy segment saw an impressive 18% growth to $17.8 million, while Consumer Language surged 9% to $17.7 million. However, the Enterprise & Education segment declined 6% to $13.6 million. Despite a consolidated net loss of $3.6 million, an increase from $2.8 million year-over-year, bookings surged 41% to $59.3 million. The company ended with $31.3 million in cash, increasing its full-year guidance for bookings and revenue.
Rosetta Stone (NYSE: RST) announced that its literacy program, Lexia® Core5® Reading, won in the software category at the 2020 Tech & Learning Awards of Excellence. This recognition highlights the program's research-proven effectiveness in literacy education for grades pre-K-5, particularly important during remote learning. Lexia's approach supports educators by offering personalized instruction and addressing skill gaps. The award underlines the program's reputation as a valuable tool for schools navigating challenges in education.
Rosetta Stone Inc. (NYSE: RST) will announce its second quarter 2020 financial results on August 6, 2020, after U.S. markets close. The results will cover the period ending June 30, 2020. A conference call hosted by the management team is scheduled for 5:00 p.m. ET the same day to discuss the results and future outlook. Investors can participate by calling 1-412-317-6026 or 1-877-300-8521, or by accessing a live webcast on the company's investor relations website. A replay will be available until August 13, 2020.
Rosetta Stone Inc. (NYSE: RST) has been awarded the Editors’ Choice with an “Outstanding” rating and 5 out of 5 stars in PC Mag’s annual review of language learning products. This marks the 8th consecutive year that Rosetta Stone has received this recognition. The review highlighted Rosetta Stone as the best premium software for beginners and advanced learners, praising its user experience, polished interface, and extensive content. Rosetta Stone's President, Matt Hulett, expressed gratitude for this acknowledgment, emphasizing the company's commitment to enhancing lives through language education.
Rosetta Stone reported its Q1 2020 financial results, revealing a consolidated revenue of $47.2 million, a 6% increase from the previous year. The Literacy segment saw an 18% revenue growth to $17.5 million, while Consumer Language increased 5% to $16.1 million. However, the Enterprise & Education Language segment experienced a 6% decline to $13.6 million. The company posted a net loss of $6.2 million, worsening from the $0.5 million loss recorded last year. Despite the losses, consolidated bookings rose 20% to $33.6 million year-over-year.