The red ink story has continued at Creative Realities – the blended entity that includes elements of CRI, Wireless Ronin, Broadcast International and .
The company filed its annual report with the SEC, which shows it had a net loss of just shy of $8 million for the 2015 fiscal year. Sales were down about 15%, and that was with ConeXus World revenues rolled in to the mix.
The company it will “likely be required to raise additional funding through public or private financings, including equity financings, in 2016.” That would come on the heels of money raised last year through secured promissory notes at 14% interest.
If you have been in this industry for a while, what’s of most interest here is that one of the blended companies – Wireless Ronin – burned through $100 million in investor money chasing the digital signage software dream.
What Creative Realities does is more than sell a CMS, but I think it’s fair to openly wonder how this thing is still going.
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for some 14 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia, on Canada’s east coast.