NASDAQ$MARK
Remark Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Remark Holdings reported a revenue increase of 24% year-over-year, driven by strategic partnerships and project completions in China.
Remark Holdings reported a 24% increase in revenue for Q2 2023 compared to Q2 2022, driven by project completions in China. The company secured major partnerships for its AI solutions and is targeting EBITDA breakeven by the end of the year.
- Revenue increased by 24% year-over-year, reaching $3.2 million in Q2 2023.
- Remark AI secured a $6.0 million, 30-month recurring revenue subscription contract for license plate and mobile facial recognition capabilities in Rio De Janeiro.
- Strategic partnerships with WaitTime, NVIDIA, and DSSL Group were established to expand the reach of Remark AI's Smart Safety Platform.
- The company is targeting EBITDA breakeven exiting the fourth quarter of 2023.
Headline financials
Revenue & EPS history
Remark Holdings · Revenue · Quarterly
$3.17M
Revenue by segment
Remark Holdings · $11.4M total across 1 segment · Q4 2022
- China$11.4M—100.0%
Forward guidance
Remark Holdings aims to achieve EBITDA breakeven by the end of the fourth quarter of 2023, driven by growth in AI investments across various markets.
Tailwinds
- Strategic technology partnerships expected to scale innovative solutions.
- Expansion into existing and new markets anticipated in the second half of the year.
- China's reopening is expected to bolster revenue opportunities.
- AI investment growth is expected to reduce expenses and increase operational efficiencies.
- Focus on synergizing with smart city initiatives to enhance urban living.
Headwinds
- Operating loss remained unchanged at $4.0 million in Q2 2023.
- Cash balance totaled $0.2 million as of June 30, 2023.
- Obligation to issue common stock to Ionic Ventures with an estimated aggregate fair value of $5.6 million.
- Received notice from Nasdaq regarding non-compliance with continued listing standards.
- Company needs to regain compliance with Nasdaq listing standards by October 24, 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-4.8%
Avg return
Earnings day
-5.5%
Avg return
5 days after
+2.1%
Avg return
30 days after
28%
11 / 39 earnings
Positive
+19.1%
Q3 2020
Best reaction
-94.3%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | -94.3% | +0.0% | +2.0% | |
| Q4 2024 | +0.0% | +5.8% | +26.9% | |
| Q3 2024 | -7.7% | -13.3% | -21.9% | |
| Q2 2024 | +8.6% | +2.9% | +9.8% | |
| Q1 2024 | -16.0% | -11.9% | -23.3% | |
| Q4 2023 | -1.9% | -4.2% | +152.4% | |
| Q3 2023 | -9.4% | -13.5% | -21.4% | |
| Q2 2023 | -10.6% | -15.1% | -34.9% | |
| Q4 2022 | -14.0% | +4.3% | +0.0% | |
| Q1 2023 | -14.0% | -19.6% | -18.2% | |
| Q3 2022 | +0.0% | -4.2% | -39.8% | |
| Q2 2022 | -5.9% | -16.7% | -30.7% | |
| Q4 2021 | -10.5% | +8.5% | -6.2% | |
| Q1 2022 | -10.5% | -12.1% | -33.2% | |
| Q2 2021 | -10.5% | -12.1% | -33.2% | |
| Q3 2021 | -3.8% | -16.0% | +99.1% | |
| Q1 2021 | +9.6% | +0.0% | +6.9% | |
| Q4 2020 | -7.5% | -6.5% | +55.8% | |
| Q3 2020 | +19.1% | +21.7% | +72.2% | |
| Q1 2020 | +9.7% | -30.9% | -28.4% | |
| Q2 2020 | -0.4% | +2.2% | -40.7% | |
| Q3 2019 | -1.3% | -13.3% | -24.9% | |
| Q2 2019 | -10.5% | -25.1% | +18.5% | |
| Q1 2019 | -0.8% | -9.2% | -26.8% | |
| Q3 2018 | -6.0% | -52.4% | -55.3% | |
| Q2 2018 | +2.8% | +5.4% | -10.3% | |
| Q1 2018 | -13.9% | -18.3% | -3.7% | |
| Q3 2017 | +0.8% | +63.0% | +119.0% | |
| Q2 2017 | -1.9% | -2.5% | -1.1% | |
| Q1 2017 | +4.7% | +0.0% | -14.7% | |
| Q3 2016 | -1.4% | +5.0% | -19.6% | |
| Q2 2016 | +1.3% | +2.7% | -6.2% | |
| Q1 2016 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q4 2012 | +3.1% | — | — | |
| Q2 2011 | +0.4% | — | — | |
| Q1 2011 | -2.2% | — | — | |
| Q4 2010 | -0.5% | — | — | |
| Q3 2010 | +13.9% | — | — | |
| Q2 2010 | -2.5% | — | — | |
| Q1 2010 | -3.7% | — | — |
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