NTN Buzztime (NYSEMKT:NTN) is 1.4% lower postmarket after posting a miss on revenues that fell by double digits in Q1 as the company evolves toward bring-your-own-device trivia games.
Hardware sales fell significantly for the quarter, though subscriptions did as well.
Gross margin was up to 69% from 66%.
Net loss improved, meanwhile, to $313,000 from a year-ago loss of $409,000. EBITDA rose to $512,000 from $325,000.
Site count was 2,632 vs. 2,639 as of Dec. 31; managed expects site count will fluctuate.
Revenue breakout: Subscription, $3.8M (down 5.7%); Hardware, $205,000 (down 69.8%).
Liquidity was $2.9M, vs. $2.8M as of Dec. 31.
Previously: NTN Buzztime misses on revenue (May. 13 2019)
Now read: Phoenix New Media dips as losses widen »
Subscribe for full text news in your inbox