comScore(US:SCOR)2025-05-08 00:56Financial Performance - Revenues for Q1 2025 were $85,709,000, a decrease of 1.25% compared to $86,795,000 in Q1 2024[15] - Net loss for Q1 2025 was $3,993,000, compared to a net loss of $1,054,000 in Q1 2024, representing an increase in loss of approximately 278.5%[15] - Total expenses from operations for Q1 2025 were $87,775,000, a decrease of 1.0% from $88,672,000 in Q1 2024[15] - Basic and diluted net loss per common share for Q1 2025 was $(1.66), compared to $(1.08) in Q1 2024, indicating a worsening loss per share[15] - The net loss for the three months ended March 31, 2025, was $3.99 million, compared to a net loss of $1.05 million in the same period of 2024[111] - Total revenues for the three months ended March 31, 2025, were $85.7 million, a slight decrease from $86.8 million in the same period of 2024[106] Assets and Liabilities - Total current assets decreased to $98,962,000 as of March 31, 2025, down from $108,057,000 as of December 31, 2024, a decline of 8.1%[14] - Total liabilities decreased slightly to $227,519,000 as of March 31, 2025, from $231,040,000 as of December 31, 2024, a reduction of 1.1%[14] - The total stockholders' equity (deficit) as of March 31, 2025, was $(13,458,000), a decline from $(8,263,000) as of December 31, 2024[14] - Accounts receivable, net, as of March 31, 2025, was $50.6 million, down from $64.3 million as of December 31, 2024, indicating a decrease of 21.2%[43] Cash Flow - Net cash provided by operating activities increased to $9,062,000 in Q1 2025 from $6,868,000 in Q1 2024, reflecting a growth of about 32%[18] - The company experienced a net increase in cash of $1,033,000 in Q1 2025, contrasting with a net decrease of $4,019,000 in Q1 2024[18] - As of March 31, 2025, the company had cash, cash equivalents, and restricted cash totaling $34.5 million, including $3.5 million in restricted cash[133] Revenue Breakdown - Revenue from the United States was $76.4 million, down from $77.7 million in the prior year, representing a decline of 1.68%[42] - Content & Ad Measurement revenue increased by 0.8% to $73.166 million, while Research & Insight Solutions revenue decreased by 11.5% to $12.543 million[112][113] Expenses - Cost of revenues increased to $51.7 million in Q1 2025, representing 60.4% of total revenues, compared to 57.7% in Q1 2024[111] - Selling and marketing expenses decreased by 3.7% to $14.803 million, accounting for 17.3% of total revenue[118] - Research and development expenses totaled $8.118 million, a decrease of 7.4% from $8.767 million in 2024, representing 9.5% of total revenue[120] - General and administrative expenses were $12.475 million, down 5.6% from $13.213 million in 2024, accounting for 14.6% of total revenue[122] Debt and Financing - The Credit Agreement provides a borrowing capacity of $60.0 million, consisting of a $45.0 million term loan and a $15.0 million revolving credit facility[62] - As of March 31, 2025, the Company's total debt obligations under the Credit Agreement amounted to $41.25 million, with a secured term loan of $45 million[72] - The stated interest rate on the Term Loan as of March 31, 2025, was 11.56%[63] - The company had no borrowings outstanding under the Revolving Facility as of March 31, 2025, with a remaining borrowing capacity of $15 million[72] Preferred Stock and Dividends - The company accrued dividends on convertible redeemable preferred stock totaling $4,439,000 for Q1 2025, compared to $4,240,000 for Q1 2024, an increase of approximately 5%[18] - As of March 31, 2025, accrued dividends for Preferred Stock totaled $13.4 million, with no shares converted into Common Stock[56] - Holders of Preferred Stock are entitled to a cumulative annual dividend at a rate of 7.5% per annum, but cash dividends are prohibited until April 1, 2026[183] Future Outlook - The Company expects to recognize approximately $210 million in revenue from remaining performance obligations, with 45% expected to be recognized in 2025[44] - The company expects continued softness in the advertising market to affect its business in 2025 due to macroeconomic challenges[136] - The company may need to raise additional funds through public or private equity or debt financing to meet future capital requirements[161] Strategic Initiatives - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[196] - Market expansion efforts are underway in Europe, targeting a 20% increase in market share by the end of the year[196] - The company has completed a strategic acquisition of a smaller tech firm for $300 million, expected to enhance product offerings[196] - The company plans to increase its marketing budget by 15% to support new product launches and market penetration[196]