Remark Holdings (3SW) Q2 2024 Earnings Report
DE:3SW Q2 2024 EPS Results
- Actual EPS
- -EUR 0.10
- Consensus EPS
- ―
- Beat/Miss
- ―
- One Year Ago EPS
- -EUR 0.37
DE:3SW Q2 2024 Revenue Results
- Actual Revenue
- EUR 3.25M
- Expected Revenue
- ―
- Beat/Miss
- ―
- YoY Revenue Growth
- +16.80%
Earnings Announcement Details
- Quarter
- Q2 2024
- Date
- 08/19/2024
- Time
- After Close
- Conference Call
- Monday, August 19, 2024
Q2 2024 Earnings Call Audio
Q2 2024 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2024 Earnings Call Summary
Remark Holdings showcased significant progress in expanding its U.S. business, with notable contract wins and strategic partnerships. However, the company still faces financial challenges, including a net loss and cash flow concerns.
During Remark Holdings' Q2 2024 earnings call, significant guidance was provided, highlighting key financial metrics and strategic developments. The company successfully completed a project with the Clark County School District, generating $3.7 million in revenue for the quarter. Despite an operating loss of $3.2 million, this marked an improvement from a $4 million loss in Q2 2023. Net loss also decreased to $5.3 million, or $0.12 per diluted share, compared to $5.9 million, or $0.42 per diluted share, in the previous year. Remark Holdings resolved default issues with Mudrick Capital by exchanging nonconvertible notes for convertible debentures. The company emphasized its strategic shift from Asia to the U.S. market, exemplified by its partnership with the Clark County School District and ongoing collaborations with Microsoft Azure and Oracle, aiming to capture $400 million in business over the next five years.
- Successful Transition to U.S. MarketRemark Holdings secured a significant contract with Clark County School District, valued at $45 million over 9 years, marking a successful transition of revenue base from Asia to the U.S.
- AI Product ExpansionIntroduction of the Remark Fast AI Training Platform, a SaaS product that provides AI training infrastructures and advanced analytics capabilities.
- Strategic PartnershipsRemark AI completed migration to Microsoft Azure platform, preparing for a potential $400 million business capture over the next 5 years with Microsoft.
- Showcase at New York City Smart City ExpoRemark AI showcased its AI solutions in conjunction with Oracle and NVIDIA, leading to additional POCs for transforming top 100 U.S. cities into Smart Cities.
- Operating Loss ReductionOperating loss reduced by $0.8 million, from $4 million in Q2 2023 to $3.2 million in Q2 2024.
DE:3SW Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Aug 18, 2025 | 2025 (Q2) | ―- | -0.1 | ― | |
| May 19, 2025 | 2025 (Q1) | ―- | ― | ― | |
| Mar 27, 2025 | 2024 (Q4) | ―- | ― | ― | |
| Nov 11, 2024 | 2024 (Q3) | ―- | ― | ― | |
| Aug 19, 2024 | 2024 (Q2) | ―-0.10 | -0.37 | 72.36% (+0.26) | |
| May 20, 2024 | 2024 (Q1) | ―- | -0.55 | ― | |
| Apr 15, 2024 | 2023 (Q4) | ―-0.35 | -0.55 | 35.67% (+0.20) | |
| Nov 20, 2023 | 2023 (Q3) | ―-0.34 | -0.7 | 51.25% (+0.36) | |
| Aug 14, 2023 | 2023 (Q2) | ―-0.37 | -1.05 | 65.33% (+0.69) | |
| May 22, 2023 | 2023 (Q1) | ―- | -2.11 | ― |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
