Creative Realities, Inc. (NASDAQ: CREX) has named Tamra Koshewa as its new Chief Financial Officer, effective December 1, 2025. Ms. Koshewa brings 30 years of finance experience, having served as CFO at Manna, LLFlex and HMI, and held senior finance roles at Equipment Depot, AAF International, Time Warner Cable and General Electric, where she earned a Six Sigma Master Black Belt certification.
The appointment follows the company’s recent acquisition of Cineplex Digital Media (CDM) for CAD $70 million (USD $42.7 million), which closed on November 7, 2025. CDM expands Creative Realities’ North American footprint and adds a portfolio of digital signage and media assets that the company expects to generate synergies and accelerate revenue growth toward its target of over $100 million by 2026.
Creative Realities reported a challenging Q3 2025, with revenue falling 26.9% year‑over‑year to $10.55 million and a net loss of $7.86 million. The loss was largely driven by a $5.7 million non‑cash software impairment and a shift in revenue mix toward lower‑margin hardware sales, which compressed gross margin from 51.8% in the prior year to 45% in Q3. The company’s Altman Z‑Score of –0.66 and a debt‑to‑equity ratio of 1.1 highlight financial distress and the need for balance‑sheet improvement.
Ms. Koshewa’s mandate is to integrate CDM, drive margin expansion, and de‑lever the balance sheet. Management expects her operational finance expertise to streamline cost structures, unlock synergies from the acquisition, and restore profitability. She will also oversee capital allocation, financial reporting and investor relations as the company pursues higher‑margin AdTech and SaaS opportunities in quick‑serve restaurants, retail and sports & entertainment.
CEO Rick Mills said the new CFO “will take Creative Realities to the next level of performance as we build a larger, stronger organization.” The announcement coincided with a 5% pre‑market decline in CREX trading on November 25, 2025, though the specific drivers of the move were not disclosed in the company’s communication.
Looking ahead, Creative Realities aims to exceed $100 million in revenue by 2026, supported by the CDM acquisition and a focus on high‑margin verticals. The company’s debt‑to‑equity ratio of 1.1 and the need to improve its Altman Z‑Score underscore the importance of the new CFO’s role in restoring financial health and delivering shareholder value.
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