```markdown Part I [Business](index=5&type=section&id=Item%201.%20Business) Star Equity Holdings operates as a diversified holding company across healthcare, building & construction, and real estate, with its Mobile Healthcare business classified as discontinued operations - Star Equity Holdings operates as a **diversified holding company** with three main divisions: Digirad Health, Star Building & Construction, and Star Real Estate & Investments[15](index=15&type=chunk)[16](index=16&type=chunk) Revenue Contribution by Segment (Continuing Operations) | Segment | 2020 Revenue % | 2019 Revenue % | | :--- | :--- | :--- | | **Healthcare** | **63.0%** | **84.5%** | | Diagnostic Services | 50.3% | 65.5% | | Diagnostic Imaging | 12.7% | 19.0% | | **Building & Construction** | **36.9%** | **15.4%** | | **Real Estate & Investments** | **0.1%** | **0.1%** | - The company's strategy focuses on **organic growth**, new service introduction, and **value-driven acquisitions** of complementary businesses[21](index=21&type=chunk)[23](index=23&type=chunk) - On October 30, 2020, the company agreed to sell its Mobile Healthcare business (DMS Health), now classified as **discontinued operations**[78](index=78&type=chunk) [Risk Factors](index=17&type=section&id=Item%201A.%20Risk%20Factors) The company faces diverse risks including business integration, IT reliance, reimbursement declines, supply chain vulnerabilities, debt covenants, stock volatility, and a material weakness in internal controls [Risks Related to Our Business and Industry](index=19&type=section&id=Risks%20Related%20to%20Our%20Business%20and%20Industry) Business and industry risks include acquisition integration failures, IT threats, healthcare reimbursement declines, supply chain vulnerabilities, and ongoing COVID-19 impacts - The company's conversion to a diversified holding company and related acquisitions involve **unknown risks** that could harm the business[88](index=88&type=chunk) - Revenues may decline due to **reductions in Medicare and Medicaid reimbursement rates**, directly impacting healthcare customer viability[95](index=95&type=chunk)[96](index=96&type=chunk) - Operating results in both healthcare and construction are susceptible to changes in **costs and availability of key supplies** like radiopharmaceuticals and lumber[100](index=100&type=chunk)[101](index=101&type=chunk)[102](index=102&type=chunk) - The **COVID-19 pandemic** has disrupted business and could materially adversely affect future operations and financial results[127](index=127&type=chunk) [Risks Related to our Indebtedness](index=28&type=section&id=Risks%20Related%20to%20our%20Indebtedness) Indebtedness risks include restrictive loan covenants, potential default from breaches, pledged assets, and the risk of PPP loans not being fully forgiven - The company's loan agreements contain **restrictive covenants** limiting its ability to incur debt, sell assets, and pay dividends, restricting operating flexibility[141](index=141&type=chunk)[142](index=142&type=chunk) - Substantially all company assets are **pledged as collateral** for its debt, risking seizure upon default[149](index=149&type=chunk) - Subsidiaries KBS and EBGL were **not in compliance with financial covenants** as of December 31, 2020, but obtained waivers[150](index=150&type=chunk) - The company received **$6.7 million in PPP loans** and faces the risk of non-forgiveness or impermissible application[145](index=145&type=chunk)[148](index=148&type=chunk) [Risks Related to our Common Stock and our Company Preferred Stock](index=31&type=section&id=Risks%20Related%20to%20our%20Common%20Stock%20and%20our%20Company%20Preferred%20Stock) Risks include volatile stock prices, common stock dividend restrictions due to preferred stock arrears, potential preferred stockholder board election rights, and an anti-takeover "Protective Amendment" impacting liquidity - Payment of **common stock dividends is prohibited** until full accumulated dividends on Company Preferred Stock are paid, with none paid to date[158](index=158&type=chunk) - If preferred stock dividends are in arrears for **six or more consecutive quarters**, preferred stockholders can elect two additional directors[155](index=155&type=chunk) - As a **"smaller reporting company,"** scaled disclosure requirements may challenge investor analysis of prospects[164](index=164&type=chunk) - A **"Protective Amendment"** in the certificate of incorporation, intended to preserve NOLs, restricts stock transfers and may have an anti-takeover effect[175](index=175&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk) [Risks Related to Our Material Weakness and Restatements](index=35&type=section&id=Risks%20Related%20to%20Our%20Material%20Weakness%20and%20Restatements) A material weakness in internal control over financial reporting, related to debt agreement review and GAAP application, led to financial statement restatements and risks future misstatements - A **material weakness** was identified in internal controls over financial reporting regarding new debt agreement review and GAAP application[182](index=182&type=chunk)[585](index=585&type=chunk) - This material weakness resulted in the **restatement of financial statements** for periods after March 31, 2019[182](index=182&type=chunk) [Unresolved Staff Comments](index=35&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company has no unresolved staff comments from the SEC - None[183](index=183&type=chunk) [Properties](index=36&type=section&id=Item%202.%20Properties) The company's principal executive offices are in Old Greenwich, CT, with leased operational facilities in Poway, CA, and owned manufacturing facilities in Maine - The company's principal executive offices are in **Old Greenwich, CT**. Key operational facilities include a leased **21,300 sq ft facility** in Poway, CA for Diagnostic Imaging, and **three owned manufacturing facilities** in Maine for the Building & Construction segment[184](index=184&type=chunk) [Legal Proceedings](index=36&type=section&id=Item%203.%20Legal%20Proceedings) Information regarding legal proceedings is provided in Note 11 of the consolidated financial statements - For a summary of legal proceedings, refer to **Note 11, Commitments and Contingencies**, within the notes to the accompanying consolidated financial statements[186](index=186&type=chunk) [Mine Safety Disclosures](index=36&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[187](index=187&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=37&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common and preferred stock trade on NASDAQ, with a stock repurchase program approved in 2018 under which no shares have been repurchased - Common stock and preferred stock are traded on the **NASDAQ Global Market** under symbols **"STRR"** and **"STRRP"**[190](index=190&type=chunk) - A stock repurchase program for up to **200,000 shares** of common stock was approved in October 2018, with no repurchases as of December 31, 2020[195](index=195&type=chunk) [Selected Consolidated Financial Data](index=37&type=section&id=Item%206.%20Selected%20Consolidated%20Financial%20Data) This item is not applicable - Not applicable[194](index=194&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=38&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In 2020, revenues from continuing operations increased to $78.2 million, driven by the Building & Construction segment, while net loss widened to $5.3 million due to increased expenses and amortization 2020 Financial Highlights (Continuing Operations) | Metric | 2020 | 2019 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $78.2 million | $72.9 million | +$5.2 million | +7.2% | | Gross Profit | $14.0 million | $17.2 million | -$3.2 million | -18.5% | | Operating Expenses | $21.2 million | $19.1 million | +$2.1 million | +11.1% | | Net Loss | ($5.3 million) | ($2.7 million) | ($2.5 million) | +92.9% | - The **2020 revenue increase** was primarily due to a **$17.6 million** contribution from the Building and Construction segment, offsetting declines in Diagnostic Services and Imaging due to COVID-19[219](index=219&type=chunk) - The company's liquidity was strengthened by a May 2020 public offering of common stock and warrants, raising approximately **$5.2 million in net proceeds**[251](index=251&type=chunk)[253](index=253&type=chunk) - Despite a net loss and significant short-term debt, management believes the company has **sufficient liquidity** to continue as a going concern for the next 12 months, supported by cash, credit, and Executive Chairman's support[245](index=245&type=chunk)[250](index=250&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to interest rate risk from $15.8 million in variable-rate debt, where a 100 basis point increase would raise annual interest expense by approximately $0.2 million - The company's primary market risk is **interest rate risk** from its variable-rate debt; a **100 basis point increase** would raise annual interest expense by approximately **$0.2 million** based on **$15.8 million** variable-rate debt outstanding at year-end 2020[309](index=309&type=chunk) [Financial Statements and Supplementary Data](index=56&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The 2020 consolidated financial statements report a $6.5 million net loss on $78.2 million total revenues, with the auditor's report noting a 2019 restatement and critical audit matters regarding goodwill valuation and going concern Consolidated Statement of Operations Highlights (Year Ended Dec 31) | Metric (in thousands) | 2020 | 2019 | | :--- | :--- | :--- | | Total Revenues | $78,163 | $72,934 | | Gross Profit | $13,987 | $17,160 | | Loss from Continuing Operations | ($5,285) | ($2,740) | | Loss from Discontinued Operations | ($1,172) | ($1,887) | | **Net Loss** | **($6,457)** | **($4,627)** | Consolidated Balance Sheet Highlights (As of Dec 31) | Metric (in thousands) | 2020 | 2019 (Restated) | | :--- | :--- | :--- | | Total Current Assets | $48,936 | $29,548 | | Total Assets | $88,293 | $90,560 | | Total Current Liabilities | $42,726 | $44,476 | | Total Liabilities | $48,364 | $49,863 | | Total Stockholders' Equity | $18,429 | $21,095 | - The independent auditor's report identifies two **critical audit matters**: goodwill valuation and the company's going concern assessment[319](index=319&type=chunk)[321](index=321&type=chunk) - The **2019 financial statements were restated** to correct a material misstatement in debt classification, reclassifying **$17.0 million** of the SNB revolver balance from long-term to short-term debt[314](index=314&type=chunk)[341](index=341&type=chunk)[344](index=344&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosures](index=112&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosures) The company reported no disagreements with its accountants on accounting principles, financial disclosure, or auditing scope - None[580](index=580&type=chunk) [Controls and Procedures](index=112&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective as of December 31, 2020, due to a material weakness in internal control over financial reporting, leading to financial statement restatements - Management concluded that **disclosure controls and procedures were not effective** as of December 31, 2020[582](index=582&type=chunk) - A **material weakness** was identified in controls over new debt agreement review and GAAP application, which resulted in material debt classification errors[585](index=585&type=chunk) - The company has developed a **remediation plan** including a more detailed review of debt contracts and proper GAAP application[586](index=586&type=chunk) [Other Information](index=113&type=section&id=Item%209B.%20Other%20Information) There is no other information to report for this item - None[589](index=589&type=chunk) Part III [Directors, Executive Officers, and Corporate Governance](index=114&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%2C%20and%20Corporate%20Governance) The Board of Directors consists of five members, including the Executive Chairman, with an established Code of Business Ethics and an Audit Committee composed of independent directors - The Board of Directors consists of **five members**, including Jeffrey E. Eberwein (Executive Chairman) and Mitchell I. Quain (Lead Independent Director)[591](index=591&type=chunk)[592](index=592&type=chunk) - The company has adopted a **Code of Business Ethics and Conduct** applicable to all officers, directors, and employees[614](index=614&type=chunk) - The Audit Committee is composed of **three independent directors**, with John W. Sayward qualifying as an **"audit committee financial expert"**[616](index=616&type=chunk)[617](index=617&type=chunk) [Executive Compensation](index=119&type=section&id=Item%2011.%20Executive%20Compensation) In 2020, named executive officers received base salaries and discretionary bonuses, with no new equity awards, while non-employee directors received retainers in RSUs 2020 Summary Compensation Table | Name and Principal Position | Year | Salary ($) | Bonus ($) | Total ($) | | :--- | :--- | :--- | :--- | :--- | | Matthew G. Molchan (President, CEO of Digirad Health) | 2020 | $405,619 | — | $409,119 | | David J. Noble (CFO & COO) | 2020 | $293,077 | $150,000 | $446,577 | | Martin B. Shirley (President, Diagnostic Imaging) | 2020 | $254,000 | $65,000 | $322,500 | - Due to COVID-19, the 2020 Annual Incentive Plan was **100% discretionary**, with cash bonuses awarded to Mr. Noble (**$150,000**) and Mr. Shirley (**$65,000**)[626](index=626&type=chunk)[628](index=628&type=chunk) - **No new stock awards** were granted to named executive officers in 2020[629](index=629&type=chunk) - In April 2020, non-employee directors elected to receive annual retainer payments in **company RSUs** instead of cash[656](index=656&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=126&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) As of February 22, 2021, no beneficial owners held 5% or more of common stock, while executive officers and directors as a group owned 8.21%, with 368,334 securities available for future issuance under equity plans - As of February 22, 2021, there were **no known beneficial owners of 5% or more** of the company's common stock[663](index=663&type=chunk) - All executive officers and directors as a group beneficially owned **410,759 shares**, representing **8.21%** of the outstanding common stock[663](index=663&type=chunk) - As of December 31, 2020, **368,334 securities** remained available for future issuance under the company's equity compensation plans[666](index=666&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=128&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) The company has multiple related-party transactions with Executive Chairman Jeffrey E. Eberwein and his controlled entities, including personal guarantees, $2.3 million in outstanding promissory notes, and a preferred stock private placement, with a majority of the Board deemed independent - Executive Chairman Jeffrey E. Eberwein has provided **personal guarantees** on the company's credit facilities with Sterling National Bank (SNB), Gerber, and Premier[667](index=667&type=chunk)[669](index=669&type=chunk)[671](index=671&type=chunk) - The company has outstanding related-party promissory notes payable to entities controlled by Mr. Eberwein, totaling approximately **$2.3 million** as of December 31, 2020[549](index=549&type=chunk)[550](index=550&type=chunk)[551](index=551&type=chunk) - Immediately prior to the ATRM Merger, the company issued **300,000 shares** of Company Preferred Stock to Lone Star Value Investors, LP (LSVI) in a private placement for **$3.0 million**[678](index=678&type=chunk) - The Board has determined that a **majority of its directors** are independent under Nasdaq listing standards[699](index=699&type=chunk) [Principal Accounting Fees and Services](index=133&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) BDO USA, LLP served as the independent auditor, with aggregate fees of approximately $1.04 million in 2020 and $0.93 million in 2019, all pre-approved by the Audit Committee Accounting Fees Paid to BDO USA, LLP (in thousands) | Type of Fee | 2020 | 2019 | | :--- | :--- | :--- | | Audit Fees | $733 | $786 | | Tax Fees | $311 | $139 | | **Total** | **$1,044** | **$925** | - All audit and non-audit services provided by BDO were **pre-approved by the Audit Committee**, which ensured auditor independence[707](index=707&type=chunk)[709](index=709&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=135&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed with the Form 10-K report, with financial statements included in Item 8 - This item lists all financial statements, schedules, and exhibits filed with the report; the financial statements are located in **Item 8**[712](index=712&type=chunk) [Form 10-K Summary](index=143&type=section&id=Item%2016.%20Form%2010-K%20Summary) No summary is provided for the Form 10-K in this section - None[723](index=723&type=chunk) ```

Star Equity Holdings, Inc. (NASDAQ:STRR) Q4 2020 Results Conference Call March 9, 2021 10:00 AM ET Company Participants Jeffrey Eberwein - Executive Chairman Matthew Molchan - President and Chief Executive Officer David Noble - Chief Operating Officer and Chief Financial Officer Conference Call Participants Tate Sullivan - Maxim Group Theodore O’Neill - Litchfield Hills Adam Waldo - Lismore Partners Jeffrey Kobylarz - Diamond Bridge Capital Operator Greetings, ladies and gentlemen, and welcome to the Star E ...

Digirad Corporation (DRAD) Q3 2020 Earnings Conference Call November 13, 2020 11:00 AM ET Company Participants Jeffrey Eberwein - Chairman Matt Molchan - Chief Executive Officer Dave Noble - Chief Operating and Chief Financial Officer Conference Call Participants Theodore O'Neill - Litchfield Hills Tate Sullivan - Maxim Group Jeff Kobylarz - Diamond Bridge Capital Michael Santelli - Ancora Advisors Operator Greetings, ladies and gentlemen, and welcome to the Digirad Corporation Third Quarter 2020 Results Co ...

Financial Data and Key Metrics Changes - Revenue for the Healthcare division fell by 32.9% to $17.3 million in Q2 2020 compared to the same period last year, primarily due to the COVID-19 pandemic [24][25] - Gross profit for Q2 2020 decreased by 41.4% compared to the same period last year, reflecting lower revenue [24] - The company reported a net loss from continuing operations of $1.3 million in Q2 2020, an improvement from a net loss of $1.5 million in Q2 2019 [30] - Non-GAAP adjusted net loss was $0.3 million or $0.11 per share in Q2 2020, compared to adjusted net income of $87,000 or $0.04 per share in the same quarter last year [30] - Non-GAAP adjusted EBITDA decreased to $1.8 million in Q2 2020 from $2.1 million in Q2 2019 [32] Business Line Data and Key Metrics Changes - In the Diagnostic Services segment, revenue fell to $7.1 million with a gross margin of 13.3%, down from $12.3 million and 22.8% in the prior year [25] - Mobile Healthcare revenue was $7.8 million with a gross margin of 10.9%, compared to $10.4 million and 12.4% in the previous year [26] - Diagnostic Imaging revenue was $2.3 million with a gross margin of 52.8%, down from $3.0 million and 35.4% in the prior year, but gross margin improved due to lower costs [27] - The Building & Construction division generated $5 million in revenue with a gross margin of 20.9% in Q2 2020, with no prior year data available due to the merger timing [28] Market Data and Key Metrics Changes - The company noted a slow but steady return to normal operations in late June as doctor offices reopened and hospitals resumed non-emergency procedures [15] - The Building & Construction division faced startup delays on major projects but secured significant contracts worth $5.2 million and $2 million for the U.S. Army and military veterans, respectively [17] Company Strategy and Development Direction - The company is focused on growth through internal investments and acquisitions, with plans to create new business divisions over time [12] - There is an ongoing exploration of divesting non-strategic assets to finance expansion, particularly in the Building & Construction division [13] - The company aims to expand its commercial construction business in New England and may consider reopening its Oxford, Maine plant to double production capacity if growth continues [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in managing business operations amid the COVID-19 pandemic and expects the second half of 2020 to align with initial projections made before the pandemic [21] - The company anticipates that Q3 will outperform Q2, and Q4 will be better than Q3, with a potential return to pre-COVID operational levels [45] - Management highlighted a robust sales pipeline and increased inquiries in the Building & Construction division, indicating strong future demand [63] Other Important Information - The company raised $5.5 million through a public offering in May 2020, which helped mitigate some supply chain challenges [14][38] - As of June 30, 2020, the company had cash and cash equivalents of $9.3 million, significantly up from $1 million a year ago [51] Q&A Session Summary Question: Supply chain issues related to lumber shortages - Management acknowledged price increases due to production shortages but confirmed no actual shortages experienced, operating at full capacity [37] Question: Future bidding activity and project pipeline - Management indicated robust sales activity and a full booking schedule, with ongoing monitoring of lead times [39] Question: Outlook for the Healthcare division - Management noted that while some areas are seeing reduced patient volume, there is pent-up demand for examinations, and operations are returning to normal [49] Question: Potential for positive cash flow - Management expressed strong confidence in achieving positive cash flow in the second half of the year, despite the need for increased working capital as sales rise [47] Question: Evaluation of non-core asset sales - Management confirmed ongoing evaluations of non-core assets, with past sales contributing significant revenue [53] Question: Revenue expectations for 2021 - Management projected potential revenue of $150 million for 2021 if the Healthcare division returns to pre-COVID levels and the Building & Construction division continues to grow [82]

Digirad Corporation (DRAD) Q1 2020 Earnings Conference Call May 15, 2020 11:00 AM ET Company Participants Jeff Eberwein - Chairman Matt Molchan - Chief Executive Officer David Noble - Chief Operating Officer and Chief Financial Officer Conference Call Participants Theodore O'Neill - Litchfield Hills Research Operator Greetings ladies and gentlemen, welcome to the Digirad Corporation First Quarter 2020 Results Conference Call. As a reminder, certain statements made during this conference call including the q ...

Common Stock Nasdaq: DRAD Series A 10% Preferred Stock Nasdaq: DRADP DIGIRAD Corp. A Diversified Holding Company (HoldCo) seeking growth both organically and through acquisitions | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|------------|-------|-------------------------|-------|-------|-------|---------------------------|-------| | | | | | | | | | | | | Healthcare | | Building & Construction | | | | Real Estate & Investments | | | | | | | | | | | | Forward-looking Statements "Safe Harbor ...

Digirad Corporation (DRAD) Q4 2019 Earnings Conference Call March 6, 2020 10:00 AM ET Company Participants Jeff Eberwein - Chairman Matt Molchan - Chief Executive Officer David Noble - Chief Operating Officer and Chief Financial Officer Conference Call Participants Theodore O'Neill - Litchfield Hills Research Operator Greetings ladies and gentlemen and welcome to the Digirad Corporation Fourth Quarter and Year End 2019 Results Conference Call. As a reminder, certain statements made during this conference ca ...

Digirad Corporation (DRAD) Q3 2019 Earnings Conference Call November 14, 2019 10:00 AM ET Company Participants Jeff Eberwein - Chairman Matt Molchan - CEO David Noble - COO and CFO Conference Call Participants Operator Greetings, ladies and gentlemen, and welcome to Digirad Corporation's Third Quarter 2019 Earnings Conference Call. As a reminder, certain statements made during this conference call, including the questionand-answer period, are forward-looking statements within the meaning of the Private Secu ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2019 was $25.8 million, down from $27.1 million in Q2 2018, with a gross margin of 19.4% compared to 20.6% in the prior year [11] - For the first six months of 2019, total revenue was $49.7 million, down from $52.5 million in the same period of 2018, with a gross margin of 18.1% compared to 19.4% [11] - Adjusted net loss for Q2 2019 was $0.09 million, compared to an adjusted net income of $0.4 million in Q2 2018 [16] - Adjusted EBITDA for Q2 2019 was $2.1 million, down from $2.7 million in Q2 2018 [17] Business Line Data and Key Metrics Changes - **Diagnostic Services**: Revenue was $12.3 million with a gross margin of 22.8%, compared to $13.3 million and 22.4% in Q2 2018 [12] - **Mobile Healthcare**: Revenue was $10.4 million with a gross margin of 12.4%, down from $11.1 million and 12.0% in the prior year [14] - **Diagnostic Imaging**: Revenue was $3 million with a gross margin of 35.4%, compared to $2.8 million and 45.9% in Q2 2018 [15] Market Data and Key Metrics Changes - The overall performance of all three operating units exceeded expectations for revenue and adjusted EBITDA in Q2 2019, with Diagnostic Imaging experiencing an 11% year-over-year revenue growth [10] Company Strategy and Development Direction - The company is progressing towards its HoldCo strategy, which aims to maximize long-term shareholder value [10] - The proposed merger with ATRM Holdings Incorporated is a significant step towards forming HoldCo, with expectations for high return internal investments and attractive acquisition opportunities [20][21] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the second quarter results, which were ahead of expectations for revenue and adjusted EBITDA [19] - The company confirmed its financial guidance for 2019, projecting revenues from continuing operations between $95 million and $100 million [19] Other Important Information - The company reported an operating cash inflow of $2.6 million for Q2 2019, with a free cash inflow of $2.2 million in the same period last year [18] - As of June 30, 2019, the outstanding balance of the credit facility was $15.3 million, with a net debt position of $14.5 million [18] Q&A Session Summary - There were no questions during the Q&A session [23]

Digirad Corporation (DRAD) Q1 2019 Results Earnings Conference Call May 3, 2019 11:00 AM ET Company Participants Matt Molchan – President and Chief Executive Officer Conference Call Participants Operator Greetings, and welcome to Digirad Corporation's First Quarter 2019 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] And as a reminder, this conference is being recorded. It is now my ...