NeoMedia Announces Q2-2013 Results
NeoMedia Announces Q2-2013 Results
Mobile Barcode Pioneer Reports 262% revenue growth
BOULDER, Colo.--(BUSINESS WIRE)-- NeoMedia Technologies, Inc. (OTC BB: NEOM), the pioneer in global mobile barcode management solutions, today announced its financial results for the second quarter of fiscal year 2013. NeoMedia's revenue increased by approximately 262 percent from Q2-2012 due to the continued adoption of its barcode scanning app, NeoReader®, its barcode management platform, NeoSphere™ and self service QR creation platform QodeScan™, and its new license agreements.
NeoMedia generated $2.27 million in revenues for the first half of fiscal year 2013 and $1.67 for Q2-2013. NeoMedia recorded a net loss of $21.28 million; approximately $21.29 million of which arose from non-cash, other income (expense). For H1-2013, NeoMedia had an operating income of $6,000 versus a net loss for the same period last year of $1.8 million.
The Company believes that this growth is a direct result of the growing market for and interest in QR codes as well as the company's ability to re-align its operations and business strategy to meet the changing needs of today's digital marketer and mobile application developer. The company saw an increase in its customer agreements for its IP licenses and 2D Core products.
"NeoMedia is announcing the strongest results in our recent history," said Laura Marriott, CEO, NeoMedia. "We are able to announce our first ever operating income with $514k for Q2, something our team is very proud of and we are thankful to have such a supportive and strong customer base."
Management attributes NeoMedia's revenue growth primarily to an increase in IP licenses to a total of 20; greater interest in NeoReader SDK integration into brand and retailer applications, in addition to the launch of QodeScan, NeoMedia's self-service code creation product available at http://www.qodescan.com.
NeoMedia Technologies, Inc. is a pioneer in QR and mobile barcode technology and infrastructure solutions that enable the mobile barcode ecosystem worldwide. Its solutions have transformed approximately 40 million mobile devices with cameras across 193 countries into barcode scanners, enabling a range of practical and engaging applications. With its suite of products, services and extensive IP portfolio, NeoMedia is able to offer customers a comprehensive end-to-end mobile barcode solution. NeoMedia's current customers include international brands, agencies and handset manufacturers. The company also has a growing portfolio of patent licensees including Microsoft and Kraft Foods Group, Inc. Learn more at www.neom.com or one of our online destinations: LinkedIn, Twitter, and, Pinterest.
Safe Harbor Statement
Certain statements made in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
NeoMedia Technologies, Inc.
Barry Baer or Laura Marriott, +1-303-546-7946
KEYWORDS: United States North America Colorado
The article NeoMedia Announces Q2-2013 Results originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.