Remark Holdings -4.6% after Q4 revenues fall short

|About: Remark Holdings, Inc. (MARK)|By:, SA News Editor

Remark Holdings (NASDAQ:MARK) is 4.6% lower after hours following a miss on Q4 revenues, which came in even below preliminary numbers announced in January.

Revenues rose to $22.3M, up nearly 20%, but fell short of its earlier guidance for $26.6M-$26.8M.

Revenues rose by $4M in transaction growth in Travel & Entertainment, offset by a $0.3M drop in other business units.

Net loss shrank to $7.1M from a year-ago loss of $89.2M; this year included a noncash gain of $5.7M vs. last year's $66.5M noncash loss due to a change in warrant liability.

And adjusted EBITDA fell to -$4.6M from -$2.2M.

Cash and equivalents at year-end was $14.4M, and restricted cash was $11.1M; the combined total of $25.5M was down from the prior-year $34.3M.

Previously: Remark Holdings beats by $0.32, misses on revenue (Apr. 01 2019)

Press release

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