NeoMedia Announces 2012 Financial Results
QR Code Pioneer’s Product Offerings Gain Market Traction
http://www.businesswire.com/news/home/20130401005989/en/NeoMedia-Announces-2012-Financial-Results
Boulder, Co.—April 1, 2013 -- NeoMedia Technologies, Inc. (OTC BB: NEOM), the
pioneer in global mobile barcode management solutions, today announced its
financial results for fiscal year 2012. The company’s revenue increased by approximately
3.4 percent from fiscal year 2011 and reduced operating costs by 6.3 percent
due to the continued adoption of its barcode scanning app, NeoReader®, its
barcode management platform, NeoSphere™, and its new IP licensees.
On a cash basis (non-GAAP), NeoMedia recorded $4.48
million in sales, a 61% growth rate over 2011. On an (GAAP) accrual basis, NeoMedia generated
$2.3 million in revenues. NeoMedia recorded a net loss of $19.4 million;
approximately $13.9 million of which arose from non-cash, other income
(expense). The difference between cash
and GAAP revenue is related to revenue recognition. On a GAAP basis, revenue is recognized over
the life of the deal; on a cash basis, it is recognized when the cash comes in.
NeoReader, the barcode scanning app,
experienced continued growth in 2012 due to increased mobile barcode adoption,
with over 34 million installations worldwide. NeoMedia has generated more than
79,000 mobile barcodes and QR codes for some of the world’s leading companies and
generated scan activity from 193 countries with the top three countries being
the U.S., Spain and Germany. NeoMedia
also added eight new companies to its list of IP licensees.
“We are excited about the direction and alignment
of our business as we enter into 2013,” said Sarah Fay, NeoMedia Board of
Directors. “With a strong executive leadership team in place and innovative
solutions in the market and in development, we’re confident that NeoMedia has
laid a strong foundation for dynamic growth in 2013.”
Over the past year, NeoMedia was able to re-align
its operations and business strategy to meet the changing needs of today’s
digital marketer and mobile application developer. The company saw an increase
in its agreements for its 2D Core products while reducing the focus on its
hardware product sales.
“We are happy to announce our 2012 results,” said
Laura Marriott, CEO, NeoMedia. “By aligning our business more closely to the
needs of our customers and the market, we have been able to reach self
sustainability from cash received during the year. We look forward to further helping brands get
closer to their customers with our mobile barcode solutions.”
About NeoMedia
NeoMedia Technologies, Inc. is
the pioneer in QR and mobile barcode technology and infrastructure solutions
that enable the mobile barcode ecosystem worldwide. Its solutions have
transformed approximately 34 million mobile devices with cameras across 193
countries into barcode scanners, enabling a range of practical and engaging
applications. With its suite of
products, services and extensive IP portfolio, NeoMedia is able to offer
customers a comprehensive end-to-end mobile barcode solution. NeoMedia’s
current customers include international brands, agencies and handset
manufacturers. The company also has a
growing portfolio of patent licensees including Microsoft and Kraft Foods
Group, Inc. Learn more at www.qode.com or one of our online
destinations: LinkedIn,
Twitter, and, Pinterest.
Safe Harbor Statement
Certain statements made in this press release
contain forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities and
Exchange Act of 1934, as amended that are intended to be covered by the
"safe harbor" created by those sections. Forward-looking statements,
which are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect,"
"may," "will," "should," "could,"
"seek," "intend," "plan," "estimate,"
"anticipate" or other comparable terms. Forward-looking statements in
this press release may address the following subjects among others: statements
regarding the sufficiency of our capital resources, expected revenues, expected
expenses and our expectations concerning our business strategy. Forward-looking
statements involve inherent risks and uncertainties which could cause actual
results to differ materially from those in the forward-looking statements, as a
result of various factors including those risks and uncertainties described in
the Risk Factors and in Management's Discussion and Analysis of Financial
Condition and Results of Operations sections of our most recently filed Annual
Report on Form 10-K. We urge you to consider those risks and uncertainties in
evaluating our forward-looking statements. We caution readers not to place
undue reliance upon any such forward-looking statements, which speak only as of
the date made. Except as otherwise required by the federal securities laws, we
disclaim any obligation or undertaking to publicly release any updates or
revisions to any forward-looking statement contained herein (or elsewhere) to
reflect any change in our expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based.
For questions about this release, please contact Barry Baer or Laura
Marriott at +1-303-546-7946, ir@qode.com
