Ronin Creeps Yet Closer To $100M Deficit

wireless_roninThe latest quarterly financials from Wireless Ronin are out:

Q3 2013 Financial Results
Revenue in the third quarter of 2013 was $1.5 million compared to $1.8 million in the same year-ago quarter. The decrease was primarily due to a decline in kiosk orders received from individual Fiat dealerships, partially offset by a follow-on order from Polaris Industries’ Indian Motorcycle subsidiary.

Recurring revenue in the third quarter of 2013 from the company’s hosting and support services was $483,000 (32% of total revenue) compared to $537,000 (30% of total revenue) in the same year-ago quarter.

Gross margin in the third quarter of 2013 was $764,000 (50% of total revenue) compared to $896,000 (51% of total revenue) in the same year-ago quarter.

Total operating expenses in the third quarter of 2013 decreased 10% to $1.9 million from $2.1 million in the third quarter of 2012.

Net loss in the third quarter of 2013 totaled $1.2 million or $(0.20) per basic and diluted share, as compared to a net loss of $1.2 million or $(0.25) per basic and diluted share in the same year-ago quarter.

That puts the digital signage software and services company very, very close to an accumulated deficit through the years of $100 million. The latest financials show that as of September 30, 2013, cash and cash equivalents totaled $1.1 million, compared to $2.2 million at end of the prior quarter. Total operating expenses are more than what the company has on hand, and is roughly equal to what Ronin loses per quarter these days.

I would seem the sales guys better have one hell of a quarter, or the exec team needs to get yet more investment dollars in, if the lights are to stay on much longer.

 

Dave Haynes

Dave Haynes

Editor/Founder at Sixteen:Nine
Dave Haynes is the founder and editor of the Sixteen:Nine blog. He is a well-known figure in the digital signage and Digital Out Of Home sectors and runs a pair of companies, The Preset Group and pressDOOH.
Dave Haynes

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Long-running blog about digital signage, DOOH and emerging media, by industry consultant and shit-disturber Dave Haynes
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