Redbox Entertainment Inc. (RDBX) is an entertainment firm engaged in delivering content from digital and physical media to its customers. The company’s app is also available across chief platforms. The company provides AVOD and many channels of FAST along with Hollywood movies. The company also runs its kiosks at many retail sites.
The price of RDBX stock during the regular trading on February 4, 2022, was $2.44 with a 20.4% increase. At last check in the premarket on February 7, 2022, the stock was further up by 7.79%.
RDBX: Events and Happenings
On January 7, 2022, RDBX was informed about its Executive management’s presence at the following two conferences.
- Virtual ICR Conference 2022 on January 11 and
- Virtual 24thAnnual Needham Growth Conference on January 13, 2022.
On January 5, 2022, RDBX reported about its most-viewed 2021 movies across AVOD, TVOD, and approximately 40,000 Redbox kiosks. Under the AVOD category, ‘Texas Killing Fields’ was featured while under the On-Demand title category ‘Free Guy was featured. The top kiosk rental of 2021 movie was awarded to the kids’ animated movie ‘The Croods: A New Age’.
On December 14, 2021, RDBX and Quotient co-reported about their entry into a collaboration for the expansion of Quotient’s media network. On December 13, 2021, RDBX was informed about signing a distribution contract with LG Electronics to include its Free Ad-Supported TV channels as part of the LG Network. On December 2, 2021, RDBX was informed about the deployment of online video signage on the top of up to 2,000 kiosks with approximately 4,000 total installations.
RDBX: Key Financials
On November 22, 2021, RDBX released its financial results for three months ended June 30, 2021. Some of the key updates are below.
EPS
Basic and diluted net loss per share in the quarter was recorded to be $3.82 million or $0.21 per share. The reported EPS was in-line with the estimated EPS.
Revenue and Assets
Actual Revenue in the quarter was $70.2 million. The company missed the estimated revenue by $20.8 million. Total current assets in the quarter were recorded to be $0.49 million.
Conclusion
RDBX stock is 75% down the prior year due to financial restrictions as a result of pandemics in the entertainment industry. The current premarket boom in the stock price is likely the result of uncertainty as there is no recent official release, SEC filing, or event on the company’s calendar. The company’s estimated EPS for the upcoming quarter, as reported by financial experts is -$0.45 and the estimated revenue is $101.5 million.
