NASDAQ$MARK
Remark Holdings Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Remark Holdings' Q3 2022 financial results announced, with revenue increasing by 130%.
Remark Holdings reported a 130% increase in revenue for the third quarter of 2022, reaching $2.8 million. The company secured strategic partnerships and saw growth in its China business, though the US business experienced a decrease. The net loss totaled $8.9 million, or $0.08 per diluted share, compared to a net income of $72.7 million in the same quarter of the previous year, which included a significant gain on investment.
- Revenue for the third quarter of 2022 increased by 130% to $2.8 million compared to $1.2 million in the third quarter of 2021.
- Revenue from China grew by 227% to $2.7 million, driven by construction project completions and Smart Campus deployments.
- The company's operating loss of $6.7 million remained relatively unchanged compared to the same quarter in the previous year.
- Net loss totaled $8.9 million, or $0.08 per diluted share, compared to a net income of $72.7 million, or $0.72 per diluted share, in the third quarter of the previous year, impacted by changes in investment values.
Headline financials
Revenue & EPS history
Remark Holdings · Revenue · Quarterly
$2.81M
Revenue by segment
Remark Holdings · $2.7M total across 1 segment · Q3 2022
- China$2.7M+125.0%100.0%
Forward guidance
The company is optimistic about future growth, expecting strategic partnerships and the infrastructure bill to drive market share. They also anticipate a loosening of COVID policies in China, which have been hindering deployments.
Tailwinds
- Strategic partnerships with Genetec and Axis to increase the speed of deployment of AI solutions.
- Opportunity to increase market share by leveraging their position as a provider of solutions addressing public safety and security with President Biden’s $3 trillion infrastructure bill.
- Winning first contract with a major top-ten sports and entertainment arena with more than 2.5 million annual visitors.
- Deployment of Smart Campus solutions at more than 70 campuses in China, bringing total installations to more than 530 campuses.
- Completion of 19 additional installations at construction sites during the third quarter of 2022, bringing the total installations to 86 sites.
Headwinds
- Revenue contributed by Remark’s U.S. businesses decreased to $0.1 million in the third quarter of 2022, compared to $0.4 million in the same period of 2021.
- Gross profit percentage decreased to 12.6% in the third quarter of 2022 compared to 30.8% in the same period of 2021.
- Net loss totaled $8.9 million, or $0.08 per diluted share, in the third quarter ended September 30, 2022, compared to a net income of $72.7 million, or $0.72 per diluted share, in the third quarter ended September 30, 2021.
- The company’s senior lenders, Remark delivered, on July 11, 2022, its remaining 6,250,000 shares of Sharecare, Inc. to its senior lenders, which reduced the outstanding principal amount on its senior secured loans by approximately $9.7 million.
- Remark’s deployment of its systems in China Mobile’s retail locations and various banks remains halted as China continues to implement its strict zero-COVID policies.
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 Q3 2022
-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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