Creative Realities Announces Exclusive Contract to Deploy Advertising Network of up to 12,000+ Displays in up to 1,000 Experiential Leisure Locations
April 05 2023 - 10:00AM
Creative Realities, Inc. (“Creative Realities,” “CRI,” or the
“Company”) (NASDAQ: CREX, CREXW), a leading provider of digital
signage and media solutions, today announced a new contract to
deploy a digital-out-of-home (DOOH) advertising network in more
than 1,000 locations in the experiential leisure vertical
throughout the United States.
The customer, a DOOH network operator, has
secured private equity funding that will support the execution of
these installations by CRI over an 18-month period. The contract is
valued at up to $46 million in revenue to CRI based on a full
deployment and the current installation schedule within the
contract.
“The formidable capabilities of CRI are
additionally showcased to provide quality hardware, technical
expertise, installation support and ongoing maintenance at
enterprise scale,” stated Rick Mills, CEO of Creative Realities.
Mr. Mills further stated, “This fulfills yet again upon another
end-to-end story that uniquely differentiates CRI in the digital
signage, omni-channel marketing and digital media industries.” He
continued, “Importantly, CRI has again demonstrated its ability to
win enterprise business and deliver significant organic growth with
material transactions of this nature.”
CRI and the other parties are working through the legal and
marketing approvals for a joint announcement later this month.
“As discussed on our earnings release call just last week, this
is one of a number of opportunities that CRI has secured to deploy,
support and manage DOOH networks and related media sales.” Mr.
Mills added, “This new contract is one of the primary drivers for
the revised revenue guidance of $60 million for 2023. As we
continue to secure significant contracts, our backlog has grown to
exceed $110 million per our communication on the earnings call held
March 30, 2023.”
About Creative Realities,
Inc.Creative Realities helps clients use place-based
digital media to achieve business objectives such as increased
revenue, enhanced customer experiences, and improved productivity.
The Company designs, develops and deploys digital signage
experiences for enterprise-level networks, and is actively
providing recurring SaaS and support services across diverse
vertical markets, including but not limited to retail, automotive,
digital-out-of-home (DOOH) advertising networks, convenience
stores, foodservice/QSR, gaming, theater, and stadium venues.
With the Company’s 2022 acquisition of Reflect
Systems, Inc. ("Reflect"), a leading provider of digital signage
software platforms, the Company has extended its product and
service offering to accelerate growth in SaaS revenue. While
Reflect provided a broad range of digital signage solutions,
Reflect’s flagship products are the market-leading ReflectView
digital signage platform and Reflect AdLogic ad management
platform. ReflectView is the industry’s most comprehensive,
scalable, enterprise-grade digital signage platform, powering
enterprise customer networks. Meanwhile, Reflect AdLogic has become
the benchmark for digital signage powered ad networks, delivering
nearly 50 million ads daily. The acquisition of Reflect also
brought to the CRI business a media sales division with the
expertise and relationships to help digital signage venue owners
develop and execute a monetization plan for their network.
The combined company has operations across North
America with active installations in more than 10 countries.
Cautionary Note on Forward-Looking
Statements This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995, and includes, among other things, discussions of our
business strategies, product releases, future operations and
capital resources. Words such as "estimates," "projected,"
"expects," "anticipates," "forecasts," "plans," "intends,"
"believes," "seeks," "may," "will," "should," "future," "propose"
and variations of these words or similar expressions (or the
negative versions of such words or expressions) are intended to
identify forward-looking statements. Forward-looking statements are
not guarantees of future performance, conditions or results. They
are based on the opinions, estimates and beliefs of management as
of the date such statements are made, and they are subject to known
and unknown risks, uncertainties, assumptions and other factors,
many of which are outside of our control, that may cause the actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Some of these risks are discussed in
the “Risk Factors” section contained in Item 1A of our Annual
Report on Form 10-K for the year ended December 31, 2022 and the
Company’s subsequent filings with the U.S. Securities and Exchange
Commission. Important factors, among others, that may affect actual
results or outcomes include: our ability to effectively integrate
Reflect’s business operations, our strategy for customer retention,
growth, product development, market position, financial results and
reserves, our ability to execute on our business plan, our ability
to retain key personnel, potential litigation, supply chain
shortages, our ability to regain and maintain compliance with
Nasdaq listing rules, and general economic and market conditions
impacting demand for our products and services, including those as
a result of the COVID-19 pandemic. Readers should not place undue
reliance upon any forward-looking statements. We assume no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
ContactsMedia InquiriesChristina
Daviescdavies@ideagrove.com
Investor Relationsir@cri.comhttps://investors.cri.com
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