RealNetworks’ Q1 Results Show Revenue Growth from SAFR Biometric Facial Recognition Solution

“While SAFR is key to RealNetworks’ business, a wildcard in the mix is the company’s acquisition of the music streaming service Napster, which contributed $12.3 million in net income to the company’s first quarter result.”

RealNetworks has published its Q1 results for the period ended March 31st, showing an upwards trajectory for its SAFR facial recognition solution.

The company’s revenues came in at $39.5 million, compared to $16.6 million in the previous quarter and $19.7 million in Q1 of last year. Despite an adjusted EBITDA loss of $7.9 million, compared to a loss of $3.0 million a year ago, the increasing revenues suggest that SAFR is gaining traction.

Commenting on the results, RealNetworks CEO Rob Glaser said his team believes SAFR “is our single largest growth opportunity,” noting that the biometric surveillance solution had been integrated into major partner platforms including those of Genetec, Milestone Systems, and Digifort.

While SAFR is key to RealNetworks’ business, a wildcard in the mix is the company’s acquisition of the music streaming service Napster, which contributed $12.3 million in net income to the company’s first quarter result.

Looking ahead, RealNetworks projects that it will see Q2 revenues in the range of $43 million to $46 million, and an adjusted EBITDA loss in the range of $4.5 million to $7.5 million.

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May 8, 2019 – by Alex Perala