Remark Holdings, Inc. (MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries and geographies. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China.
As per the management, “we have established meaningful partnerships with global corporations like Acxiom and Sina Weibo. Acxiom, one of the world’s largest data service companies, has selected the KanKan AI Platform to provide data-rich, actionable intelligence and targeted solutions for its client base. Meanwhile, Sina Weibo has deployed the KanKan 3D Facial Feature Tracking technology in the recent launch of its 3D augmented reality mobile app with the goal of driving sales by vastly enriching the shopping experience.”
About
Remark Holdings, Inc. owns, operates, and acquires digital media properties across multiple verticals that deliver content worldwide. The company leverages its digital media assets to target the Millennial demographic, which provides it with access to markets. It operates KanKan, a social media application and data intelligence platform, which aggregates content and consumer-shopping data across social media platforms; Vegas.com that offers users the ability to book lodging, air travel, show tickets, and tours; and Roomlia, a mobile hotel-booking application. The company also operates Banks.com Website, which provides content for young adults that shares stories of financial success and failure; US Tax Center at irs.com that provides users with access to U.S. tax-related information and services; and Filelater.com and Taxextension.com Websites that assist taxpayers with filing business and personal tax extensions with the IRS. In addition, it operates Bikini.com, an online beach lifestyle destination for young women.
Guidance
For 2018, company management expects to generate consolidated net revenue in excess of $100 million. Kankan’s Artificial Intelligence Platform will be the primary driver of the growth as its revenue rapidly increases. For the year ended December 31, 2018, company management expects KanKan to generate more than $30 million in net revenue, representing approximately a quintupling of the amount of expected revenue during 2017.
Remark Holdings management also indicated it expects its travel & entertainment segment to generate gross revenue of more than $325 million and net revenue between approximately $65 million to $75 million, with an EBITDA margin approximating 10% to 13% of net revenue, during 2018.
Financial Review
Three Months Ended September 30th: 2017 Compared to 2016:
Net revenue was $19.4 million, compared to $15.1 million.
Total cost and expense was $25.4 million, compared to $19.3 million.
Operating loss was $5.9 million, compared to $4.2 million.
Net loss was $13.3 million, or $0.58 per diluted share, compared to $15.3 million, or $0.75 per diluted share.
At September 30, 2017, the cash and cash equivalents balance was $16.0 million, and total restricted cash was $11.7 million, bringing the total combined cash position to $27.6 million, compared to a total combined cash position of $18.5 million at December 31, 2016.
Nine Months Ended September 30th: 2017 Compared to 2016:
Net revenue was $52.0 million, compared to $44.4 million.
Total cost and expense was $68.0 million, compared to $57.2 million.
Operating loss was $16.0 million, compared to $12.9 million.
Net loss was $17.6 million, or $0.77 per diluted share, compared to $23.1 million, or $1.15 per diluted share.
Stock Influences and Risk Factors
If the company meets their 2018 guidance it would be a significant catalyst.
As a creator and a distributor of digital content, they face potential liability for legal claims based on the nature and content of the materials that they create or distribute, or that are accessible via owned-and-operated websites.
They process, store, and use personal information, payment card information and other consumer data, which subjects them to risks stemming from possible failure to comply with governmental regulation and other legal obligations.
Their network operations may be vulnerable to hacking, viruses, and other disruptions.
Stock Chart
On Thursday, November 16, 2017, MARK shares were trading at $5.93 (+23.03%) on traded volume of 3.4 million shares. The current RSI (14) is 82.70
Mark shares are trading above their 50-day and 200-day moving averages of $$3.63 and $3.07 respectively.
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