Remark Holdings Reports Fiscal Year 2019 Results
LAS VEGAS, May 28, 2020 /PRNewswire/ --Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence ("AI") solutions and digital media properties, today announced financial results for its fiscal year ended December 31, 2019.
- LAS VEGAS, May 28, 2020 /PRNewswire/ --Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence ("AI") solutions and digital media properties, today announced financial results for its fiscal year ended December 31, 2019.
- "We spent the last three months of 2019 repositioning our business for success in 2020 by streamlining costs and focusing on recurring revenue generating lines of business," said Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings.
- Revenue for fiscal 2019 was $5.0 million, down from $10.1 million during fiscal 2018.
- Operating loss declined to $22.8 million in fiscal 2019 from $44.5 million in fiscal 2018 commensurate with the cost and expense declines.