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ClearOne(CLRO) - 2025 Q1 - Quarterly Results
CLROClearOne(CLRO)2025-05-19 20:01

Financial Performance - Q1 2025 revenue was 2.3million,a362.3 million, a 36% decrease from 3.6 million in Q1 2024 and a 21.8% sequential decrease from 3.0millioninQ42024[5]−GAAPgrossprofitinQ12025was3.0 million in Q4 2024[5] - GAAP gross profit in Q1 2025 was 0.1 million, down 89% from 1.2millioninQ12024,resultinginagrossprofitmarginof51.2 million in Q1 2024, resulting in a gross profit margin of 5% compared to 32% in Q1 2024[5] - GAAP net loss for Q1 2025 was (2.8) million, or (0.11)pershare,comparedtoanetlossof(0.11) per share, compared to a net loss of (1.9) million, or (0.08)pershare,inQ12024[5]−RevenueforthethreemonthsendedMarch31,2025,was(0.08) per share, in Q1 2024[5] - Revenue for the three months ended March 31, 2025, was 2,313 million, a decrease of 36.1% compared to 3,622millioninthesameperiodof2024[16]−Grossprofitforthesameperiodwas3,622 million in the same period of 2024[16] - Gross profit for the same period was 121 million, down from 1,151million,reflectingasignificantdecline[16]−Operatinglossincreasedto1,151 million, reflecting a significant decline[16] - Operating loss increased to 2,846 million in Q1 2025 from 2,078millioninQ12024,indicatingworseningfinancialperformance[16]−NetlossforQ12025was2,078 million in Q1 2024, indicating worsening financial performance[16] - Net loss for Q1 2025 was 2,834 million, compared to a net loss of 1,898millioninQ12024,representinga49.21,898 million in Q1 2024, representing a 49.2% increase in losses[16] - Non-GAAP net loss for Q1 2025 was (2.8) million, or (0.11)pershare,comparedtoaNon−GAAPnetlossof(0.11) per share, compared to a Non-GAAP net loss of (1.8) million, or (0.07)pershare,inQ12024[5]−Non−GAAPnetlossforQ12025was(0.07) per share, in Q1 2024[5] - Non-GAAP net loss for Q1 2025 was 2,760 million, compared to 1,762millioninQ12024,highlightingongoingfinancialchallenges[18]−BasicanddilutedlosspershareforQ12025was1,762 million in Q1 2024, highlighting ongoing financial challenges[18] - Basic and diluted loss per share for Q1 2025 was 0.11, compared to 0.08inQ12024,indicatingadeclineinshareholdervalue[16]−ComprehensivelossforQ12025was0.08 in Q1 2024, indicating a decline in shareholder value[16] - Comprehensive loss for Q1 2025 was 2,847 million, compared to 1,878millioninQ12024,furtheremphasizingthecompany′sfinancialstruggles[16]OperatingExpensesandCostManagement−Operatingexpensesimprovedto1,878 million in Q1 2024, further emphasizing the company's financial struggles[16] Operating Expenses and Cost Management - Operating expenses improved to 3.0 million in Q1 2025, down from 3.2millioninQ12024,reflectingcontinuedcost−cuttingmeasures[5]−TotaloperatingexpensesforQ12025were3.2 million in Q1 2024, reflecting continued cost-cutting measures[5] - Total operating expenses for Q1 2025 were 2,967 million, down from 3,229millioninQ12024,showingsomecostmanagementefforts[16]InventoryandCashManagement−Cashandcashequivalentsdecreasedto3,229 million in Q1 2024, showing some cost management efforts[16] Inventory and Cash Management - Cash and cash equivalents decreased to 1.0 million as of March 31, 2025, down from 1.4millionasofDecember31,2024[7]−Thecompanyexperiencedasignificantreductionininventorylevels,decreasingbyapproximately1.4 million as of December 31, 2024[7] - The company experienced a significant reduction in inventory levels, decreasing by approximately 1.4 million compared to December 31, 2024[5] - ClearOne is actively evaluating strategies to optimize inventory levels and production schedules to mitigate future impacts from cash flow constraints[5] - ClearOne secured a 1millioninvestmentinFebruary2025torestartproductinventorypurchases[2]ProductDevelopment−ClearOneintroducedfivenewproductsinQ12025,includingtheaward−winningBMA360DXmicrophonearray[2]ShareholderImpact−Thenumberofsharesusedincomputingdilutedlosspershareincreasedto24,748,551inQ12025from23,969,148inQ12024,indicatingpotentialdilutionforexistingshareholders[18]−Non−GAAPAdjustedEBITDAforQ12025was1 million investment in February 2025 to restart product inventory purchases[2] Product Development - ClearOne introduced five new products in Q1 2025, including the award-winning BMA 360DX microphone array[2] Shareholder Impact - The number of shares used in computing diluted loss per share increased to 24,748,551 in Q1 2025 from 23,969,148 in Q1 2024, indicating potential dilution for existing shareholders[18] - Non-GAAP Adjusted EBITDA for Q1 2025 was (2,686) million, compared to $(1,764) million in Q1 2024, reflecting continued operational difficulties[18]