Creative Realities, Inc. (CREX) stock surged 25.34% in the after-hours trading session at the price of $1.83 following the definitive merger agreement with Reflect Systems, Inc.
CREX helps customers use advanced omnichannel technologies to encourage better consumer experiences. CRI designs produce and commercialize customer experiences for enterprise-level network systems. It is actively offering support services and recurring SaaS across vertical markets.
CREX Announced Definitive Merger Agreement
On 12th November 2021, CREX reported a definitive merger agreement with Reflect Systems, Inc. Under the terms of the deal, the merged company will function under Creative Realities, Inc. and will be named CREX on NASDAQ. CEO of Reflect, Lee Summers, will keep serving the company. He will also lead the AdTech initiatives of the merged company, including the alliance with Supply Side Platforms and Exchanges. The merger has expected to close by the first quarter of 2022.
CREX Scheduled Third Quarter 2021 Results
On 1st November 2021, CREX scheduled to announce its earnings report for the three and nine months ended 30th September 2021. The management will host the conference call on 16th November 2021 at 9:00 am Eastern Time. Rick Mills, Chief Executive Officer, and Will Logan, Chief Financial Officer, will discuss the results.
Second Quarter 2021 Financial Results
On 16th August 2021, CREX published its financial results for the three- and six months ended 30th June 2021 and provided corporate updates.
Revenues totaled $3.3 million for the second quarter of 2021. It represents a drop of 10%, or $0.4 million, from the same quarter of 2020. For the three months ended 30th June 2021, Safe Space Solutions product sales totaled $0.2 million, compared to $0.5 million for the same period of 2020. It represents a loss of 60%, or $0.3 million. CREX reported an operating loss of $0.4 million for the second quarter of 2021. Operating loss was $1.6 million in the second quarter of 2020. For the second quarter of 2021, net income was $1.0 million compared to a net loss of approximately $2.5 million for the second quarter of 2020.
