NTN Buzztime dips as hardware drop crimps revenues

|About: NTN Buzztime, Inc. (NTN)|By:, SA News Editor

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)

Press release

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