Company profile

Ticker
OBLG
Exchange
Website
CEO
Peter J. Holst
Employees
Incorporated in
Location
Fiscal year end
Former names
Glowpoint Inc, Glowpoint, Inc., View Tech Inc, Wire One Technologies Inc, Wire One Technology Inc
SEC CIK
IRS number
770312442

OBLG stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

30 Jun 20
3 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 5.33M 5.42M 2.37M 2.44M
Net income -3.13M -5.65M -640K -875K
Diluted EPS -0.6 -1.1 -0.12 -0.17
Net profit margin -58.73% -104% -27.00% -35.88%
Operating income -2.98M -5.46M -640K -874K
Net change in cash -2.54M 3.33M 284K -602K
Cash on hand 2.06M 4.6M 1.27M 987K
Cost of revenue 1.58M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 12.83M 12.56M 14.8M 19.22M
Net income -7.76M -7.17M 5.79M -3.53M
Diluted EPS -1.52 -0.15 0.14 -0.1
Net profit margin -60.51% -57.08% 39.09% -18.38%
Operating income -7.57M -6.74M -2.37M -2.09M
Net change in cash 2.6M -1.94M 2.81M -624K
Cash on hand 4.6M 2.01M 3.95M 1.14M

Financial data from Oblong earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
4 Jun 20 Clark David C common stock Payment of exercise Dispose F 1.07 3,999 4.28K 48,933
4 Jun 20 Clark David C common stock Grant Aquire A 1.07 11,667 12.48K 52,932
22 Apr 20 Adelman Jason T Common Stock Buy Aquire P 0.93 2,000 1.86K 496,000
22 Apr 20 Adelman Jason T Common Stock Buy Aquire P 0.9 3,000 2.7K 487,000
22 Apr 20 Adelman Jason T Common Stock Buy Aquire P 0.9 3,000 2.7K 484,000
22 Apr 20 Adelman Jason T Common Stock Buy Aquire P 0.89 5,000 4.45K 481,000
22 Apr 20 Adelman Jason T Common Stock Buy Aquire P 0.91 7,000 6.37K 494,000
13 Apr 20 Clark David C common stock Payment of exercise Dispose F 1.1 3,999 4.4K 41,265
20 Mar 20 Adelman Jason T Common Stock Buy Aquire P 1.32 1,000 1.32K 476,000
20 Mar 20 Adelman Jason T Common Stock Buy Aquire P 1.32 1,000 1.32K 475,000
1.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 7 5 +40.0%
Opened positions 2 0 +Infinity%
Closed positions 0 2 -100.0%
Increased positions 1 2 -50.0%
Reduced positions 1 0 +Infinity%
13F shares
Current Prev Q Change
Total value 113K 63K +79.4%
Total shares 81.76K 66.89K +22.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Geode Capital Management 34.07K $47K 0.0%
Renaissance Technologies 32.43K $45K +14.9%
Citadel Advisors 11.7K $16K NEW
UBS UBS 2.43K $3K -29.8%
BLK BlackRock 1.12K $2K 0.0%
BAC Bank of America 4 $0 NEW
Proequities 0 $0
Largest transactions
Shares Bought/sold Change
Citadel Advisors 11.7K +11.7K NEW
Renaissance Technologies 32.43K +4.2K +14.9%
UBS UBS 2.43K -1.03K -29.8%
BAC Bank of America 4 +4 NEW
Proequities 0 0
Geode Capital Management 34.07K 0 0.0%
BLK BlackRock 1.12K 0 0.0%

Financial report summary

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Competition
AT&TAT&TMicrosoftZoomTelusPolycomConvergeOneLogMeInAvi-splVidyo
Risks
  • We have experienced declines in revenue in recent fiscal years and may continue to experience further revenue decline in future periods.
  • We have a history of substantial net operating losses and we may incur future net losses.
  • Our business activities may require additional financing that might not be obtainable on acceptable terms, if at all, which could have a material adverse effect on its financial condition, liquidity and its ability to operate as a going concern in the future.
  • The SVB Loan Agreement contains restrictions that limit our flexibility in operating our business.
  • We may be unable to repay the outstanding principal and accrued interest under the SVB Loan Agreement, in which event SVB could exercise its default remedies under the Loan Agreement.
  • We received a loan under the Paycheck Protection Program of the CARES Act, and all or a portion of the loan may not be forgivable.
  • If we fail to achieve broad market acceptance on a timely basis, we will not be able to compete effectively, and we will likely experience continued declines in revenue and lower gross margins.
  • We depend upon the development of new products and services, and enhancements to existing products and services, and if we fail to predict and respond to emerging technological trends and customer’s changing needs, our operating result may suffer.
  • Holders of our Series C Preferred Stock and other preferred securities have certain consent rights that could limit us from taking certain corporate actions, and as a result may adversely affect our business, operating results and stock price.
  • Our success is highly dependent on the evolution of our overall market and on general economic conditions.
  • We may be unable to adequately respond to rapid changes in technology.
  • We operate in a highly competitive market and many of our competitors have greater financial resources and established relationships with major corporate customers.
  • We rely on a limited number of customers for a significant portion of our revenue, and the loss of any one of those customers, or several of our smaller customers, could materially harm our business.
  • Any system failures or interruptions may cause loss of customers.
  • There is limited market awareness of our services.
  • We rely on third-party software that may be difficult to replace or may not perform adequately.
  • We depend upon our network providers and facilities infrastructure.
  • Our network could fail, which could negatively impact our revenues.
  • Our network depends upon telecommunications carriers who could limit or deny us access to their network or fail to perform, which would have a material adverse effect on our business.
  • Cybersecurity incidents could disrupt business operations, result in the loss of critical and confidential information, and adversely impact our reputation and results of operations.
  • We may experience material disconnections and/or reductions in the prices of our services and may not be able to replace the loss of revenues.
  • Our failure to obtain or maintain the right to use certain intellectual property may negatively affect our business.
  • We may not be able to protect the rights to its intellectual property.
  • We are exposed to the credit and other counterparty risk of our customers in the ordinary course of our business.
  • Our future plans could be adversely affected if we are unable to attract or retain key personnel.
  • If our actual liability for sales and use taxes and federal regulatory fees is different from our accrued liability, it could have a material impact on our financial condition.
  • We depend upon suppliers and have limited sources for some services.
  • We incur significant accounting and administrative costs as a publicly traded corporation that impact our financial condition.
  • If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud. As a result, current and potential stockholders may not be confident in our financial reporting, which could adversely affect the price of our stock and harm our business.
  • The combined organization will need to raise additional capital by issuing securities or debt, which may cause significant dilution to the combined organization’s stockholders and restrict the combined organization’s operations.
  • The coronavirus pandemic is an emerging serious threat to health and economic wellbeing affecting our employees, investors, customers, and other business partners.
  • The impact of any deterioration in the U.S. economy or in the financial condition of our customers, specifically, as a result of the coronavirus outbreak may negatively affect our business.
  • Our business activities will require additional financing that might not be obtainable on acceptable terms, if at all, given the coronavirus outbreak and resulting economic conditions. The failure to obtain such financing will likely have a material adverse effect on our financial condition, liquidity and ability to operate going forward.
  • A material disruption in our workplace as a result of the coronavirus could affect our ability to carry on our business operations in the ordinary course and may require additional cost and effort should our employees continue to not be able to be physically on-premises.
  • Our common stock may experience volatility in trading or loss in value as a result of the effects of the coronavirus on the U.S. and global economies.
  • Our acquisition of Oblong Industries in October 2019 could adversely affect our operations, financial results and financial condition.
  • The failure to successfully operate and integrate the former businesses of Glowpoint and Oblong Industries in the expected timeframe could adversely affect the combined organization’s future results following the completion of the transaction.
  • If we do not achieve the contemplated benefits of the Merger, our business and financial condition may be materially impaired.
  • The conversion of our issued and outstanding shares of Series D and Series E Preferred Stock into shares of our common stock is contingent upon NYSE American approval.
  • Throughout much of our history, our common stock has been thinly traded and subject to volatile price fluctuations.
  • We could fail to satisfy the standards to maintain our listing on a stock exchange.
  • Penny stock regulations may impose certain restrictions on the marketability of our securities.
  • Future operating results may vary from quarter to quarter, and we may fail to meet the expectations of securities analysts and investors at any given time.
  • Sales of substantial amounts of common stock in the public market, or the perception that such sales may occur, could reduce the market price of our common stock and make it more difficult for us and our stockholders to sell our equity securities in the future.
  • Our common stock ranks junior to our outstanding shares of Series A-2 Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock with respect to any dividends and upon liquidation.
  • Our charter documents and Delaware law could discourage takeover attempts and lead to management entrenchment.
  • The market price of our common stock may decline as a result of the Merger.
Management Discussion
  • As discussed above, on October 1, 2019, the Company acquired Oblong Industries, and Oblong Industries became a wholly owned subsidiary of the Company. Prior to the acquisition of Oblong Industries on October 1, 2019, the Company operated in one segment. Effective October 1, 2019, the former businesses of Glowpoint and Oblong Industries were managed separately during the fourth quarter of 2019 and involve different products and services. Accordingly, the Company currently operates in two segments: 1) the Glowpoint (now named Oblong) business which mainly consists of managed services for video collaboration and network and 2) the Oblong Industries business which consists of products and services for visual collaboration technologies.
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