Creative Realities 1Q17 Financial Results

Adrian J Cotterill, Editor-in-Chief

Creative Realities, Inc. (OTCQB: CREX) has announced its financial results for the quarter ended March 31, 2017 and at first sight, it would seem that Rick Mills, Chief Executive Officer, has started to turn the company around since it was effectively acquired by ConeXus World Global, LLC back in August 2015.

Rick Mills was quoted as saying “We are pleased to report that total revenue for the quarter exceeded the top end of guidance. This significant growth over 2016 highlights our team’s strong execution against CRI’s strategic plan, and puts us well on track to achieving previously announced guidance of $26 million for the year.”

First Quarter Financial Highlights include: –

Revenues were $6.4 million for the three-month period ended March 31, 2017, an increase of 164% compared to the same period in 2016, and up 17% sequentially

Gross profit was $2.8 million for the first quarter 2017, up $1.7 million, or 149%, from the corresponding period in the prior year

Gross margin was 44% of revenue for the first quarter of 2017, compared with 47% in the prior year, due to a less favorable mix of non-recurring projects

CRI generated operating profit of $123 thousand and adjusted EBITDA of $525 thousand

Cash and cash equivalents increased to $3.4 million, compared to $1.4 million as of December 31, 2016, due to the collection of receivables and receipt of license payments

A large non-cash gain below the operating line of $866 thousand was relating to the settlement of debt and dissolution of Broadcast International, Inc. in May 2016

Rick Mills continued, “Our expanded sales and marketing team has been extremely active, landing new logos and expanding business with existing customers. Our pipeline has never been stronger, and while execution against the pipeline can be lumpy from quarter to quarter, we are on track for significant growth in revenue and profitability in 2017. Armed with a drastically improved balance sheet compared to a year ago, CRI is well positioned for long-term organic and acquisition growth.”

The Company will host a conference call to review the results and provide additional commentary about the Company’s recent performance, which is scheduled for Tuesday, May 16, 2017 at 9:00 am Eastern Time. Once registered, participants can use the weblink provided in the registration email to dial-in by phone or use your computer to listen to the live webcast. 

Following the live webcast, a replay will be available approximately two hours after the webcast on our website at for at least 30 days.

Creative Realities helps retailers and brands use the latest technologies to inspire shopper engagement in and around the Store.  Founded 16 years ago, the firm’s evolving client base has led to recognized leadership in deploying technology aligned with strategic and consumer behavior goals at Retail. The firm has created and delivered consumer/shopper experiences, designs and installs high-end audio-visual networks, and is actively providing recurring SaaS and support services across diverse categories: Automotive, Apparel & Accessories, Banking, Baby/Children, Beauty, CPG, Department Stores, Digital Out-of-Home (DOOH), Electronics, Fashion, Fitness, Foodservice/QSR, Financial Services, Gaming, Luxury, Mass Merchants, Mobile Operators, and Pharmacy Retail.


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