RNWK - Earnings call transcript Q1 2021

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Operator

Greetings and welcome to the RealNetworks' Incorporated First Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. [Operator instructions] As a reminder, this conference is being recorded. I would now like to turn the conference to today's host, Kim Orlando with ADDO Investor Relations. Please proceed.

Kimberly Orlando

to quarter welcome conference financial and call. you RealNetworks' XXXX first results Thank

the I'd you growth future to discussed we and well like Before begin, its affecting remind and EBITDA forward-looking, businesses products statements company's expected as as its strategy, implement profitability, trends financial expenses for Other today including condition. to other that efforts, and regarding liquidity profitability restructuring operating RealNetworks' forward-looking in growth, plans and future revenue, its benefits and prospects adjusted as and well activities. and as statements include the these initiatives are invest from matters some

operation Napster In the December addition, and involve of on reports the those risks XX-Q which XXXX that disclosure Rhapsody of have presentation. as cause Form from and from filings accounting quarter including belief and most results corporate our section forward-looking and factors number reports. been XX-K statements presented all SEC our be call can filings as of our forward-looking risk historical could set statements facts PLC. to Form and obtained materially A certain Relations of Inc, of other in a We copy and periods Statements recent conform from XXXX forth recast for Investor website. or these in MelodyVR to discontinued to in this as Effective the that uncertainties to differ statements describe relate statements. third Napster our SEC other Group are expectations actual of forward-looking sale these and comparable risks of other in express contains to historical is than International a the and business today's and does that purposes the

of expectations whether update today new XX, made of result RealNetwork's this as statements revise statements no call, to any or reflect events other or duty XXXX. made any company during a The today, reason. undertakes information, May future forward-looking as Forward-looking

that will Regulation addition, certain In will non-GAAP SEC's present we considered be on this under call the financial measures G.

Christine will made Christine And initiatives, on Rob the strategy and update questions. quarter financial conclude Rob, prepared both Form of President, provide which and found that measure, a then For website detailed I Real's Rob. the Ensing can at over discuss answer with Treasurer. to information our a progress Chairman our non-GAAP and under are Christine and to corporate please Glaser, With release the dated be Financials CFO. in review the today, submitted that, first of more most press After investor.realnetworks.com today's and each company included SAFR Mike will me directly of reconciliations be GAAP and of tab. X-K, AI our to President our on and hand Senior and and to in Rob Mike Vice remarks, company's will during Mike measure With pleased results. refer Chambers, CEO; financial SEC more financial COO; detailed comparable the XXXX. will to the the call will today KONTXT. the

Robert Glaser

afternoon, Good Thanks, to joining us. everyone, Kim. and three cover I Today topics. for plan thanks

company. from status discuss media transformation company the I'll strategic an to a digital Real's technology First, of AI-based

processing our our and an two I'll strategy. was centered Real around NLP company. XXXX This our to transformation and summarize results our discuss And KONTXT, our of transformation or aligning which to computer I'll our AI platform. context platform is Next, natural quarter in transition. an and related the is capital services, is products successful AI-based SAFR, other centric vision third, language strategic our with which activities first structure quarter initiative the recent in important fundraising QX

ways. two continue will businesses Our foundation traditional or us be in to to important

provide will us balance AI they improve fund they and differentiate will will AI that our us financial products. help And initiatives. contribute our help data second, First,

significant and to Mobile XX% XX% quarter, in for Mike in in in KONTXT SAFR first will SAFR approximately Services progress the KONTXT together achieved During KONTXT. up XX% few year-over-year. growth our we represent SAFR XXX% in and segment of provide XXXX. additional and year-over-year, a grew Revenue from SAFR our revenue QX, minutes. KONTXT and increased increased depth with

financial let our me summarize Second, results.

compared Our to which This related to was to business. to was tone end the year down compared period. our down and first quarter revenue XX% was prior decline primarily the carrier a $XX.X ringback million, due quarter the contracts prior of few X%

revenue strong. As our AI year-over-year I mentioned QX was growth in earlier,

On million, the QX $X loss bottom in a to $X.X line, our was compared XXXX. adjusted of EBITDA million loss

in likely will declined making quarters. games, the XXXX, of were word titles. in loss trajectory about discuss the opportunities. games that our we few we After believe for process reinvigorate growth to biggest order These was slightly some in back to manage our QX out, I'll with million. $X.X growth a Scener, which us growth invest our games a changes few continued in a free-to-play of We further A spinning prior a The growth businesses to two minutes. take reflect excellent were it Scener quarter. EBITDA in to which compared the in adjusted results get free-to-play enable foundation disappointed in will that AI free-to-play games team onto costs Excluding discipline team is how business. results in our And

about to the balance talk passing mic and our to sheet progress before I'd recent capital structure. our on like Finally, Mike,

Last approximately a consisted date. of Melody related Napster as million as $XX of valued MelodyVR $X.X to an by disbursement about of is went month tell $XX.X by million fashion of out XXXX. $XX to of them approximately December $X.X sale out in to million closing at stake final you liabilities. million for total transaction we AI Nova of for Napster's we assumption stock, sheet million balance million transition included know, Columbus story a of and the centric paying As the XXXX transfer cash, an of $X.X to XXXX, the end in this piece consideration which This and of of $XX.X April, closed their in million, of sold which Then organized company. the MelodyVR for stock public market the we of the Napster time we cash the first bought of in to our

both use we Indeed, As told growth double-digit proceeds, and million a and expect XXXX. investments, fuel result, our will XXXX we program, the net in $XX.X to we we beyond. context in investors achieve with of in revenue raised that that those approximately which in to XXXX growth

our step aligning the growth simplifying opportunities of in balance is sheet out and completion us spin for front in Scener. next the of of Our the

now month. XX,XXX% has rest Executive to Richard, are Strickland virtual watch Disney over service, Scener job HBO minutes stepped movie Recently Scener's incredible be over are XXX virtually which over not like to year. allows to XXX%, XXX of industry Plus esteemed including the Scener. the Chairman with and watch we Chairman. times, Walberg friends, and Richard Max. up by CEO. about and service scaling doing an million Daniel its shows using the executive past we'd is to of I recall, tech down consumers entrepreneur, and audience Consumers and grown As video Scener a Netflix, a remains their Scener video Daniel each in team of senior theater Scener entertainment senior as and dozen brought

has expansion this great I well Given participate success. opportunity Scener Ensing. growth, continue additional on Mike the Scener's Scener's a in of as process Real to believe rapid is raising a capital. serve to as shareholder I'll Board in

pleased I'm I'll up success now with the discuss setting our to proud progress Mike pass earlier, said As will --has growing business operationally. AI more with of made the for baton that, progress in the we I very detail. our and in And company to and

Michael Ensing

Thank KONTXT. both you, be and I discussing SAFR Rob. will

businesses, data. and have In processed tools. proprietary these MMS and our SMS, highly This in our Before leading we algorithm we businesses I where and competitive outline residing Each case approximately our are computer unique bias advantages. was billion upon. trained algorithms businesses large to using the developed of are AI the the competitive briefly advantage why accurate, of also of these these In growing provide vision we advantages extremely base Each natural highly of KONTXT, one robust are filtering talent of I'd to markets fast, source low in compact, X these case very daily utilizes results messages competitive language like updates that of that strategically. part Real. SAFR, is products on at

these let on update me each businesses. turn Now one to of

another we and global by For Federal the in quarter U.S successes driven SAFR, businesses. commercial both delivered yet strong

most Federal II our Business Research recent facial progress continue on contracts In the with U.S we addition, Air In United to our highly rated release latest direct were their Small significant with by vendor SBIR and the recognition NIST Phase with or to we two States product in Force. made SAFR ongoing execute Innovation business, test.

a we likely awarded work the and will global Air year. remainder business In with perimeter a on start the were now done addition, third Work being to I'll the commercial domestic and discussion of the QX SBIR for of rescue search and U.S protection, calendar Force with recently support partnerships. bulk to this the missions. turn in SAFR's of

watchlist applications secure SAFR access, with SAFR cases business embedded the commercial initiative. including focuses on our variety reminder, a a Inside As of surveillance use authentication, and

top made we partnership with both hardware. increasing for advanced advancements of an We and system several and video a and been to integrated with time software key quarter, partners. layer as provide on security proprietary, announced an video efficiencies. During operations, Geutebrück, has high-performance the provider management video international recently surveillance analytics AI saving Geutebrück's of SAFR

Inside AXIS. we quarter, furthered SAFR the our our scope expanded and with initiative During

the cameras the box SAFR the video Inside reduce overheads can AXIS AXIS Inside cost ownership. total being processing enables server PXXXX lowers Mk addition like directly be and AXIS the III network In SAFR embedded technology to on PXXXX on to of available dome QXXXX camera, camera.

global The recently also the SAFR we market. Integrated Also, systems go-to-market Technologies $X their signed will provider spaces. and analytic collaboration of Convergint a information platform is and the authentication computer services digital Security technology addition, of leading Atos worldwide the Convergint. solutions for with AXIS Atos solutions computing is partnership based U.S SAFR Convergint add edge teaming bring agreement security. recently in industry on products consulting, trusted Europe. and and vision allow integrator. to portfolio leader vision companies in two agreement control a Solutions billion a primarily to In joint a a to agreement project computer with focuses signed in and and collaboration

is person product passive .X any Within solutions. can anti-spoofing seconds USB front over the recently new enhance released we detection clip or of side, in liveness to AI biometric XX% or SAFR, camera SAFR's with verify which real introduces features accuracy. detection versus liveness a authentication face and security that a version RTSP On live of standard X.X video photo for powered

about which in quickly We high by among Of a are algorithms less XX was industry. with results, and lightweight. live differentiators excited most with a for is competitive consistently RealNetworks wild, the face RealNetworks the our reinforce accuracy in the most source NIST algorithms Achieving also tested the least fastest faces the as the biased accurate for when ranked capability latest data NIST. top video recognition. key all dealing of the

growth We continue to for excited future for about prospects business. the very SAFR be our

focused of services KONTXT. is to on and platform its better and built years. services generation expertise, based AI-based Next, help experiences. customers the messaging products several last on discussion our KONTXT Real a creating turn over messaging deliver next KONTXT its I'll that Based

VOICE. our VOICE for leveraging KONTXT of and increasing over service on service XXXX calls AI history SAFR footprint trajectories focused scope on both results we a KONTXT. announced in long our greater industry. telecom customers, current product customer product, businesses will by for quarter is are deployable and call now talk excited blocks Christine our during KONTXT first Building is operators. for AI-backed are and quarter, actively growth relationships For AI-based expanding Christine? new the our I an summary, KONTXT through developed financial that of we the our capabilities, for the messaging the our first with making that, turn With In about fraudulent to our to about the detail. and progress we carrier are we in KONTXT

Christine Chambers

business first are more discussion consolidated by our to Please detailed thrilled finance will segment quarter-to-quarter. period joined and growth quarter results. a lead our of of Thanks, afternoon, businesses year-over-year performance. note not our apples-to-apples Followed that fluctuate be as sequential Real always review remarks I'm certain everyone. the In Mike, my today, opportunity. this can comparisons and of during and good exciting organization first I to

today In Therefore, treated operation of of the being accounting our addition, as discontinued and has RealNetworks, purposes. deconsolidated for Napster. to as XXXX, results a presented Napster exclude which disclosure XX, is been operations December and continuing relate

quarter period, of a contracts our Now few turning AI compared the million results. our for million, Total prior a revenue more in in million our in $XX.X $XX.X prior declines to year foundation and was offset due quarter to to strong some XXXX. renew the were not than first ringback primarily businesses tone in growth in businesses, did the by that $XX.X

timing IP our period, deals first SAFR SAFR which Looking greater down $XXX,XXX revenue contracts, added declines sequential due Real and offset renewals a at was was revenue flat the quarter due year-over-year. Consolidated down prior of down was these on and million, sequential successful for revenue a quarter and decrease PC Services in fourth was the quarter partially sequentially, to XXXX. was free-to-play our tones $XXX,XXX detail, in primarily decline first sequentially, the to basis, of Games due for shipments to result compared On federal Year-over-year, prior by by sales a the games. down to The compared was in business. $X.X down segment year timing a declines ringback in the to higher was $XXX,XXX product X Player The $X.X our in period. tone the year lower profit in the IP down our and offset results decrease in to both down sequential slight decline basis. the Mobile upgrade our XX multiyear from year games. due basis $XXX,XXX legacy QX gross Consumer essentially and revenue primarily primarily by the was KONTXT. and due of codec million XXXX, the products legacy of prior Year-over-year, ringback in year-over-year within sequential period. our decrease free-to-play was to growth revenue the on offset $XXX,XXX campaign to will in and of was was and Media decrease partially Compared lower and year-over-year. the primarily when prior the quarter the $XX.X the million our compared to revenue to booked

to quarter loss to year share, million, diluted $X.XX the PLC. prior the a the X% $X transaction, compared million for $X.X or from million net prior Net was liability or $X.X loss loss period. and $X.XX of interest were loss the year several discussed of expenses per per fair the the to note quarter, items, up share loss prior minus because operating flat from or XXXX, items. quarter gross Total the million addition XX% percentage Napster the per numbers value also and prior costs million to period. related quarter attributed loss restructuring to of in Adjusted of compared the stock the prior to noncore XX%, When including the $X.X now were quarter first revenue, $X.X earlier, compared an period. for we're was the quarter $XX.X the a is the include period. was prior a for and in fair to Napster As compared noncore of adjustments our prior first of of in value margin operating in items can or a period. down quarter, included EBITDA $X.XX trading fluctuate a gains million X% These of compared in normalizing resulting income was million in contingent MelodyVR the which diluted consideration and for $XXX,XXX first of Group prior to prior first that and assessment $X.X RealNetworks $XXX,XXX net million from or quarter, which on in increase net they at the in from Quarter prior share and $X.X results a the diluted year million the loss Please as pre-tax $XX.X year million, $XX.X year of noncore

mentioned, the to Scener cost was related Rob $X.X EBITDA quarter, adjusted As of first million. $XXX,XXX including for

segment operating loss a the first reflects and lower of a a to loss lower detail. year in segment results the quarter basis, Media business decrease and in tones in year-over-year the investment the revenue Year-over-year, result $XXX,XXX decreased million was of contribution to lower SAFR On federal was due $XXX,XXX our as to slightly primarily revenues. contribution prior $XXX,XXX Turning margin sequential our our segment and primarily Mobile of a improvement expense in driven is due Consumer to and by contribution basis, expenses The ongoing more On contracts, expenses. management. prior $X.X operating $XXX,XXX $X.X our period. expenses compared sequential a of in Services to in loss was prior was SAFR and quarter, the the and prior year. operating primarily the compared ringback quarter, improvement decrease higher million KONTXT. related to a

transaction, decrease level, numbers of including items. noncore year mobile normalizing include because by quarter, our year to with compared to and of the to for expenses XX-Q. increased $XXX,XXX the items compared to $X.X On revenue, the in million, $X $X.X investments unallocated was corporate unallocated by $XXX,XXX resulting year value several items due fair on to corporate on million period. period. found the costs quarter, along first prior from gain and restructuring they was prior can adjustments the margin of sequential quarter, the foundation liability SAFR. segment When our be marketing expense and As Game can consideration items a other period. the by and quarter flat partially to of and Napster our expenses expenses fluctuate a was increased Further prior these related gain contribution up compared management noncore in the loss $XXX,XXX on gains a were offset high the businesses of our a basis, and prior information prior corporate $XXX,XXX the in year-over-year a million compared compared from in Again, result lower At prior games. focused contingent to ongoing the the noncore

flows turning million and cash had March we in XX, XX, to operating working Now December activity, cash to compared cash debt XXXX, equivalents million, XX, sheet. million seasonal decrease capital $XX and credit in had At outstanding The our total on was and used our XXXX, primarily no unrestricted XXXX. balance we borrowings At due to facility. revolving $XX.X timing. our at was March $X.X

on net strengthened XX, underwritten As April of Rob million. public of our to balance in highlighted, proceeds the that offering the with we an resulted approximately $XX.X company sheet closing

outlook. to Now turning our

financial to position We are a the for today, in pleased given our long-term in confidence plan. be our continuing to operations guidance reinstate

June quarter of be range and businesses. in both $X reflect to in licensing of the For $X.XX capital of will growth of the adjusted and raise $X.X This $XX expenses million the million, offset partially in total decline due softness year the April. the million in of foundation approximately timing, for by $X.XX of million to senior EBITDA. our EBITDA games adjusted sequential million, business EBITDA range a be to in million business We reflects troughs in in loss of adjusted to we range a AI the $X believe part the of excluding the second to an $XXX,XXX the IP ending we revenue Scener. new million, expect expect XXXX, our to revenue loss light our second investment up includes quarter XX, currently including to and which $XX.X Further, in

will we with in XXXX an focus relatively For revenue with growth total investment XX, year be reigniting on the full line to a XXXX, and XXXX. overall top year ending December flat currently XXXX beyond. expect be

Our our with than as seeing fully question Capital. adjusted our was you. begin meaningful to the we call loss by in free-to-play full in SAFR benefits XXXX. you. of be Thank XXXX, see look focused revenue that, and Please it investments when to year We greater such, well double-digit fruit products With from growth, KONTXT for now forward Argento our bear to we games. expect first As Street XXXX and driven expect Mark the EBITDA to Thank questions. [Operator we'll comes proceed. AI Lake open Operator? as Instructions] XXXX

Mark Argento

A in the business into a and these, maybe you see has Hey, SAFR business like integration that the little Maybe couple of quarters. grown pipeline Wanted business, more. systems highlighted having a little there, about RFPs Looks wins business building bit Can up, dig Rob, there's out of the really triple how where bit you're the AXIS little about nicely you're to the questions. that that talk camera Mike bit AI Christine. a deal. about big the digits. talk coming you and deals, some opportunities the targeting talk in

Robert Glaser

to want you do Mike, one? that take

Michael Ensing

Sure. take Yes, that. I'll

all, first sort worse this a case of use So and -- talking. perspective, of is from

segments, segment we're the then Segment. and on, two focused commercial So the Federal

executing there significant the are opportunities recent in the little I talked then that And On some segment, will most begin on call we've other on. that SBIR that about work the bit Federal won pipeline. a

cases. across the opportunities seeing On side, different several we're commercial use

control. So one access is

cameras, could third of the excited we're the excited relationship dome surveillance different is is We're I partnerships, conversion relationship. relationship watchlist. Atos about prospects most Second, expanding pretty authentication, And with and we're just their and in about will bring available, traction mentioned, popular AXIS, Europe. the provide. the types then, and significant that one as Similarly, now of also

described. create is then after actually that of going force. have very helps this sales after And diversification advantages as opportunity. global now partner that And our of these we going right one use the significant is significantly cases. sort I So, of also our relationships, strategy And

Mark Argento

products? Okay. currently own the big to And SAFR is the force how sales

Michael Ensing

don’t [multiple speakers] It's approximately we -- well, probably

Robert Glaser

size definitely on it's of sales information teams. a out leverage break But model. don't we Yes,

organized that take is goal opportunities, have team to to partners. those opportunities bring primarily partners be have sales of and our through advantage us Our

not we're some plan, out opportunities the case ones our leverage to it's calling partners together customer, end the in business are build the not So network of forces to and partners general but put those sales on that scale every -- rather to plan, it a in the in bigger to of first where a up more first that it's build directly region. in kind of where as a then that business the or book of of vertical category, order a in And way. repeatable engage

So leverage it's strategy [indiscernible] sort combo of a of and the partners.

Mark Argento

you're combination and distributors systems slash integrators So the versus direct bars force? go-to-market as a of using sales the

Robert Glaser

process partners I those. to say one have and with the federal first But the is would actually working directly the Yes, does business engagement, in similarly time be on little the phase business, SBIR because you the direct has involved to primarily. different, been that of because engage federal federal over the a expect engagements, its in bit government we is and

Mark Argento

to -- KONTXT SAFR And Is you over a to just it. step? more as kind mean, fair of business as large didn't signing of that got you're shifting quite sign I'm that assuming carriers. did. robustly Got grow I a

So or me a educate maybe to just it's on you how up business out. that roll could big one, when bit got to step going little get potentially

Michael Ensing

…? you want that Rob, or me do take do to you

Robert Glaser

up, of to and have the partner first in say, some as going, Syniverse, And fill that sort Yes, partnerships go cases, bucket, and go. large they you a get one. would -- Syniverse we you and kind We once well. rolled asked a they to Happy the out Sure. in couple some split that of for as you additional case some carrier KONTXT, set then of announced early different as we've KONTXT our a on categories. partnership you in carriers I next on you with

of some of sort win instance, like the similar for signing of there's it's of up additional opportunity we about, kind And a for VOICE, KONTXT either the partners you So for in those. can KONTXT talked additional lines, way.

peers volumes again, So -- sometimes paid tend will it's we get associated But them. the by have to with volume.

more but in we one-to-one. general we So case, greater volume the money not do, wait, the necessarily the it's

products of using at get comes generally Its necessarily works. else won't is how our through somebody until or graduates money given somebody if more that a it customer So [ph], kind online, band different band. we

Mark Argento

then Got balance just it. And All question. a kind quick of right. sheet/expense

about the EBITDA in incremental like you investment spend losses. that kind So kind I a of to Is think million from prepared going of it into remarks, you pace of Canada juxtaposing $X an against forward think spend, that we're QX. terms sounded good AI? said, and incremental that moving

up year I year. think in you suggested they'd a be a over

So kind of million $X million, $X.X a quarter.

they'll this maybe million, or -- $X maybe the $X incremental million bucks spends, So $X million year.

out there. pull thought a can You

Robert Glaser

number. beyond numbers in Yes, QX down any we're QX detailed a not of breaking terms QX giving QX or number very number, or

than XXXX trough loss. loss, EBITDA the to terms the terms a we of in said haven't would QX say of EBITDA But loss. be subdivided quarter, in in expect that terms also have to be in there. and larger is we we XXXX that expected loss We say revenue did of both I EBITDA

be that growing? is QX than with that is will be how of of EBITDA revenue don't that losses basically we of break you and the those QX down. because revenue versus look how the loss. of what much call terms the that staying We so it to net didn't dimensionalizing, But EBITDA the we larger why expect the revenue, growing said QX, investment investment. instance, if net when of in is much in that effect a quarter. We the trough and is AI out, And you incremental because the That's constant? QX about at question versus And margin for the associate

Mark Argento

to visibility the the investment, getting that the the just Yes, talking think coming another you can well, and revenue the obviously, of million then trough of the some Do evolution when parts where as in bit -- do question talk contracts business trying but understand have have as in the another is for up quarter $X line you good other scale, terms guess in the business? we why I in you reason could you ramp because on business quarter the revenues visibility much in also -- is you investment, out, million to in in much see little of are fine. have AI question, a of quarter about and I That's could terms kind a about off how $XX the pretty in see that's the of you ringtone business, as can right? terms in the of of QX business? Maybe asked -- just you're the I'm in

Robert Glaser

I Mike will that. speak Mike? to let

Michael Ensing

Yes.

So, perspective, from visibility, do good large and a foundation portion revenues. then the component, Yes, strong good visibility. and pretty we a even from there's visibility AI so long-term of contracts, to very, an have we do very

Robert Glaser

what then view a have would for and And may the you business in that that not We’ve Yes. additionally, we time, methodology say, this expectation I you pipeline, you obviously, hasn't the, my have future. then, in out closing haven't on the this may for closed broken visibility a yet. revenue. is And this, future or

might GAAP nothing where to nature terms GAAP about has was in you takes that this deal this at in slip this just and and booking of falling much revenue and off we income centers. point to deals quarter, that. form caused of would really that bookings revenue. then know bookings, different quarter some this you It we we pipeline, But achieved impact that. and of then But Sometimes future, say, going going didn't on in there of But that well, of the structure depends the the in don't terms about in And versus out. in break match talking those consider in necessarily what final of final what to it's terms be. the us the in EBITDA deal a how of talking to is is. And fall there opportunity size the the

Mark Argento

additional color. the Thanks. appreciate Well, Great. Understood.

Robert Glaser

Okay.

Michael Ensing

Mark. Thanks,

Robert Glaser

wrap that. know little Is -- other operator [indiscernible] offline? I today Did a for So, to running bit want over I for okay? that little a down wrap And today? know close then time. we the bit and late follow-up we're we we take running then Shall for

Operator

correct, That's sir. That's fine.

Robert Glaser

today. good an places to everybody forward be want teeth customers in India, our our continue and the team pandemic customers are for much [indiscernible] can time joining as all the right and and time world, the thank India. well appreciate to of to it, U.S staff to to are our RealNetworks. for parts of feel empathy world our we thank talking Hopefully It's world Well, The the for such our not We very the in everyone's sooner. as supportive I and of support world all will right the the be the wishing been to middle months, ahead. more has of through of and colleagues feel we of in for the and And we employees for our to And as it and we we investors, try us extraordinary about that moved conquer world our as want the pandemic. and like And certain where X an of exciting pandemic, look more really staff. everybody parts Great. as in now. more course, us very were best as we this if normal months in stakeholders,

Operator

This you. concludes Thank today's teleconference.

time participation. your at and this your You you lines thank for may disconnect

Realnetworks (RNWK) 13 May 212021 Q1 Earnings call transcript