Remark Holdings, Inc. (MARK) Income Statement
MARK 2023 at a glance
Fiscal year ended December 31, 2023 · U.S. dollarsMARK revenue and net income
Where MARK's revenue goes
2023Each bar shows an amount and its share of revenue. MARK kept −662.1% of revenue as net income.
MARK profit margins
MARK growth rates
to 2023| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −62.3% | −24.3% | −43.9% | +8.0% |
| Gross profit | +222.1% | −33.8% | −54.4% | −3.1% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MARK quarterly EPS vs estimates
Remark beat the analyst EPS estimate in 0 of the last 2 quarters.
MARK income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4M | $11.7M | $16.0M | $10.1M | $5.0M | $79.1M | $70.6M | $59.3M | $14.2M | $1.8M |
| Cost of revenue | $3.3M | $11.3M | $11.5M | $6.4M | $3.5M | $24.6M | $16.9M | $11.2M | $1.9M | $74,000 |
| Gross profit | $1.1M | $335,000 | $4.5M | $3.7M | $1.5M | $54.5M | $53.7M | $48.2M | $12.4M | $1.8M |
| Research & development | $1.9M | $2.1M | $4.7M | $4.1M | $3.6M | $13.3M | $3.6M | $2.8M | $1.7M | $508,000 |
| Sales, general & admin | $14.8M | $19.4M | $14.1M | $12.7M | $17.2M | $71.7M | $61.3M | $56.0M | $30.0M | $18.2M |
| Total operating expenses | $18.2M | $21.6M | $18.4M | $17.2M | $21.7M | $97.0M | $76.4M | $70.8M | $34.9M | $19.4M |
| Operating income | −$17.2M | −$21.3M | −$13.9M | −$13.5M | −$20.2M | −$44.8M | −$37.4M | −$22.6M | −$22.6M | −$17.9M |
| Interest income | — | — | — | — | $608,000 | $24.6M | $68.8M | $1.1M | $7.4M | — |
| Interest expense | $4.3M | $6.1M | $2.3M | $1.3M | $1.9M | $3.2M | $4.6M | $4.7M | $1.9M | $460,000 |
| Income before taxes | −$29.1M | −$55.5M | $27.5M | −$13.7M | −$23.0M | −$22.2M | −$106.5M | −$30.9M | −$31.4M | −$18.2M |
| Income taxes | $4.3M | −$9,000 | $9,000 | $1.3M | $4.8M | −$667,000 | $278,000 | $746,000 | $1.9M | $542,000 |
| Net income | −$29.1M | −$55.5M | $27.5M | −$13.7M | −$23.0M | −$21.6M | −$106.7M | −$31.7M | −$31.4M | −$18.2M |
| EBITDA | −$24.6M | −$47.8M | $30.0M | −$12.0M | −$20.1M | −$13.4M | −$100.6M | −$15.9M | −$26.2M | −$16.8M |
| EPS (diluted) | −$1.32 | −$1.23 | $2.87 | −$3.98 | −$3.90 | −$8.42 | −$10.80 | −$29.29 | −$15.93 | −$14.15 |
| Gross margin | 24.5% | 2.9% | 28.4% | 36.7% | 30.0% | 68.9% | 76.0% | 81.2% | 86.9% | 96.0% |
| Operating margin | −389.8% | −182.6% | −87.0% | −132.8% | −403.0% | −56.6% | −52.9% | −38.1% | −158.7% | −971.7% |
| Net margin | −662.1% | −475.6% | 171.8% | −134.9% | −458.2% | −27.3% | −151.2% | −53.4% | −221.0% | −990.8% |
| Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $320,000 | $320,000 | $3.7M | $387,000 | $226,000 | $183,000 | $3.2M | $826,000 | $1.6M | $2.8M | $2.6M | $4.7M |
| Cost of revenue | $107,000 | $107,000 | $2.9M | $350,000 | $103,000 | $3.3M | $2.5M | $455,000 | $2.8M | $2.5M | $1.8M | $4.3M |
| Gross profit | $213,000 | $213,000 | $774,000 | $37,000 | $123,000 | −$3.1M | $656,000 | $371,000 | −$1.1M | $353,000 | $711,000 | $397,000 |
| Research & development | $698,000 | $698,000 | $366,000 | $346,000 | $389,000 | $768,000 | $567,000 | $169,000 | $1.1M | $41,000 | $508,000 | $455,000 |
| Sales, general & admin | $3.0M | $3.0M | $3.6M | $3.3M | $4.8M | $3.2M | $3.6M | $3.2M | $4.2M | $7.0M | $4.1M | $4.1M |
| Total operating expenses | $10.3M | $3.9M | $4.0M | $3.7M | $5.4M | $4.1M | $4.2M | $3.4M | $8.1M | $7.1M | $4.7M | $4.6M |
| Operating income | −$10.0M | −$3.6M | −$3.2M | −$3.7M | −$5.1M | −$7.4M | −$4.0M | −$3.0M | −$6.4M | −$6.7M | −$4.0M | −$4.2M |
| Interest expense | $376,000 | $376,000 | $961,000 | $943,000 | $943,000 | $949,000 | $858,000 | $1.5M | $748,000 | $1.4M | $1.8M | $2.2M |
| Income before taxes | −$9.6M | −$9.6M | −$5.3M | −$13.8M | −$7.9M | −$7.2M | −$5.9M | −$8.2M | −$8.6M | −$8.9M | −$12.5M | −$25.4M |
| Income taxes | — | — | — | $20,724 | — | $146,586 | $851,000 | $2.2M | — | −$9,000 | $8.6M | $21.2M |
| Net income | −$9.6M | −$9.6M | −$5.3M | −$13.8M | −$7.9M | −$7.2M | −$5.9M | −$8.2M | −$8.6M | −$8.9M | −$21.1M | −$46.7M |
| EBITDA | −$9.2M | — | −$4.2M | −$12.8M | — | −$6.1M | −$5.0M | −$6.6M | −$7.8M | −$7.5M | −$10.7M | −$23.2M |
| EPS (diluted) | −$0.19 | −$0.19 | −$0.12 | −$0.36 | — | −$0.39 | −$0.42 | −$0.63 | −$0.79 | −$0.08 | −$0.12 | −$0.24 |
| Gross margin | 66.6% | 66.6% | 20.9% | 9.6% | 54.4% | −1,706.0% | 20.7% | 44.9% | −69.1% | 12.6% | 27.8% | 8.5% |
| Operating margin | −3,139.1% | −1,119.4% | −86.9% | −955.0% | −2,275.2% | −4,023.5% | −125.0% | −368.4% | −395.0% | −239.2% | −154.6% | −89.7% |
| Net margin | −3,004.4% | −3,004.4% | −142.2% | −3,563.6% | −3,512.8% | −3,919.1% | −185.5% | −988.1% | −528.0% | −317.4% | −825.0% | −1,000.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MARK's financial statements (latest annual report filed April 15, 2024); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MARK financial results
In fiscal year 2023 (ended December 31, 2023), Remark reported revenue of $4.4 million, down 62.3% from the year before. It had a net loss of $29.1 million, a net profit margin of −662.1%. Diluted earnings per share came to −$1.32. Over five years revenue grew at an average rate of −43.9% a year.
See the MARK stock overview for the latest quote and news, or the MARK chart for price history and technical indicators.
MARK income statement FAQ
What is Remark's annual revenue?
Remark reported total revenue of $4.4 million for fiscal year 2023, which ended on December 31, 2023. That was down 62.3% from $11.7 million the previous year.
Is Remark profitable?
No. Remark reported a net loss of $29.1 million in fiscal 2023, a net profit margin of −662.1%; its operating margin was −389.8%.
What is Remark's gross margin?
Remark's gross margin was 24.5% in fiscal 2023: for every $100 of revenue, Remark kept $25 after the direct cost of its products and services.
How much does Remark spend on research and development?
Remark spent $1.9 million on research and development in fiscal 2023, 43.0% of revenue.
How fast is Remark growing?
Revenue grew −43.9% a year on average over the last five fiscal years, from $79.1 million to $4.4 million.
What are Remark's earnings per share?
Remark earned $-1.32 per diluted share in fiscal 2023, compared with $-1.23 a year earlier.
When does Remark's fiscal year end?
Remark's fiscal year ends in December. The latest annual report covers the year ended December 31, 2023 and was filed on April 15, 2024.