Oblong, Inc. reported its financial results for the fourth quarter and fiscal year ended December 31, 2024, on March 18, 2025. The company maintained a strong financial position with $5.0 million in cash and zero debt as of year-end. During the fourth quarter, Oblong raised $231,000 from common stock warrant exercises.
The company's total revenue for Q4 2024 was $563,000, a decrease from $944,000 in Q4 2023. For the full fiscal year 2024, total revenue was $2,378,000, down from $3,810,000 in the prior year. Despite revenue declines, operating loss improved to $(929,000) in Q4 2024 from $(1,276,000) in Q4 2023.
Oblong also announced operational streamlining efforts that are expected to result in annual savings of $1.2 million. The company regained full compliance with Nasdaq's listing standards in September 2024. Management stated it is exploring various strategic possibilities, including mergers and acquisitions, business combinations, reverse mergers, or asset sales, to fuel future expansion and unlock value.
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