C
CREATIVE REALITIES, INC.
CREXCIK 0001356093NasdaqNon-AcceleratedSmaller ReportingServices-Computer Integrated Systems DesignMinnesotaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-8.28M
Total Assets
$151.04M
Equity
$21.50M
Shares Out
10.57M
Op. Cash Flow
$-7.75M
Business
Creative Realities, Inc. provides digital signage and media solutions that design, deploy, manage, and monetize enterprise-scale digital signage networks across a variety of out-of-home environments. Its main offerings include hardware resales, professional services (system design/engineering, installation, content development, scheduling, and field support) and recurring SaaS platforms such as ReflectView, Reflect AdLogic/CPM+, Clarity, Reflect Xperience and related AdTech and integration tools. The company serves vertical market segments including retail, entertainment and sports venues, restaurants/QSR, convenience stores, automotive, healthcare, DOOH/retail media and corporate communications. It sells primarily in North America through a direct sales force, inside sales, strategic partnerships and managed advertising networks, with limited international licensing.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total sales | 57 | 51 | 45 | 43 | 18 | |
| Total cost of sales | 32 | 27 | 23 | 26 | 10 | |
| Gross profit | 26 | 24 | 22 | 18 | 8 | |
| Sales and marketing expenses | 6 | 6 | 5 | 4 | 1 | |
| General and Administrative Expense | 23 | 17 | 16 | 12 | 7 | |
| Loss on impairment of software asset | 6 | 0 | — | — | — | |
| Total operating expenses | 35 | 23 | 21 | 20 | 11 | |
| Operating (loss) income | −9 | 938,000 | 1 | −2 | −3 | |
| Interest expense, including amortization of debt discount | 2 | 2 | 3 | — | — | |
| Loss on change in fair value of contingent consideration | 0 | 2 | 1 | −1 | 0 | |
| Gain on settlement of contingent consideration | −5 | 0 | — | — | — | |
| Loss on debt extinguishment | 0 | 1 | 0 | — | — | |
| Loss on debt modification | 24,000 | 0 | — | — | — | |
| Other expense (income), net | 516,000 | −102,000 | −211,000 | 4,000 | −7,000 | |
| Total other (income) expenses, net | −2 | 4 | 4 | −4 | 3 | |
| Loss before income taxes | −7 | −3 | −3 | 2 | 254,000 | |
| Income tax expense | −1 | −106,000 | −83,000 | −79,000 | −22,000 | |
| Net loss | −8 | −4 | −3 | 2 | 232,000 | |
| Series A Redeemable Convertible Preferred Stock dividends | −232,000 | 0 | — | — | — | |
| Net loss applicable to common stockholders | −9 | −4 | — | — | — | |
| Basic and diluted loss per common share (in dollars per share) | −0.81 | −0.34 | −0.35 | 0.28 | 0.06 | |
| Weighted average shares outstanding - basic and diluted (in shares) | 10 | 10 | 8 | 7 | 4 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 2 | 1 | 3 | 2 | 3 | |
| Accounts receivable, net | 19 | 11 | 12 | 8 | 3 | |
| Inventories, net | 7 | 2 | 3 | 2 | 2 | |
| Prepaid expenses and other current assets | 5 | 859,000 | 665,000 | 2 | 2 | |
| Total current assets | 34 | 14 | 19 | 14 | 10 | |
| Property and equipment, net | 3 | 207,000 | 499,000 | 201,000 | 75,000 | |
| Goodwill | 53 | 26 | 26 | 26 | 8 | |
| Other intangible assets, net | 36 | 23 | 24 | 24 | — | |
| Finance lease right-of-use assets | 23 | 114,000 | — | — | — | |
| Operating lease right-of-use assets | 2 | 787,000 | 1 | 2 | 654,000 | |
| Other non-current assets | 611,000 | 312,000 | 112,000 | 43,000 | 5,000 | |
| Total Assets | 151 | 65 | 71 | 66 | 23 | |
| Accounts payable | 17 | 6 | 8 | 4 | 3 | |
| Accrued expenses and other current liabilities | 4 | 3 | 4 | 4 | 2 | |
| Deferred revenues | 8 | 1 | 1 | 1 | 426,000 | |
| Customer deposits | 2 | 2 | 3 | 2 | 2 | |
| Current maturities of operating leases | 596,000 | 466,000 | 505,000 | 711,000 | 281,000 | |
| Current maturities of finance leases | 4 | 46,000 | — | — | — | |
| Short-term debt | 4 | 0 | — | — | — | |
| Short-term contingent consideration, at fair value | 0 | 13 | 0 | — | — | |
| Total Current Liabilities | 39 | 26 | 20 | 16 | 7 | |
| Revolving credit facility | 40 | 13 | — | — | — | |
| Non-current operating lease liabilities | 2 | 342,000 | 536,000 | 873,000 | 373,000 | |
| Non-current finance lease liabilities | 18 | 68,000 | — | — | — | |
| Deferred tax liabilities | 4 | 133,000 | — | — | — | |
| Total Liabilities | 102 | 40 | 42 | 40 | 14 | |
| Commitments and contingencies (Note 12) | — | — | — | — | — | |
| Common stock, $0.01 par value, 66,666 shares authorized; 10,519 and 10,447 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 105,000 | 104,000 | 104,000 | 72,000 | 120,000 | |
| Additional paid-in capital | 85 | 82 | 82 | 76 | 61 | |
| Accumulated deficit | −65 | −57 | −53 | −50 | −52 | |
| Accumulated other comprehensive income | 1 | 0 | — | — | — | |
| Total Shareholders Equity | 21 | 25 | 29 | 26 | 9 | |
| Total Liabilities, Temporary Equity, and Shareholders' Equity | 151 | 65 | 71 | 66 | 23 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 6 | 4 | 3 | 3 | 1 | |
| Non-cash lease expense | 621,000 | 254,000 | — | — | — | |
| Amortization of debt discount | 27,000 | 569,000 | 1 | 1 | 159,000 | |
| Stock-based compensation | 2 | 13,000 | 563,000 | 2 | 2 | |
| Amortization of deferred financing costs | 110,000 | 63,000 | 0 | — | — | |
| Provision for credit losses | 229,000 | 13,000 | 153,000 | 398,000 | 10,000 | |
| Provision for inventory reserves | 160,000 | −43,000 | 109,000 | 1 | 409,000 | |
| Deferred income taxes | 1 | 61,000 | 44,000 | 0 | — | |
| Accounts receivable | −6 | 2 | −4 | −4 | −673,000 | |
| Inventories | −4 | 615,000 | −409,000 | −197,000 | 62,000 | |
| Prepaid expenses and other current assets | 2 | −194,000 | 952,000 | 480,000 | −342,000 | |
| Accounts payable | 4 | −1 | 4 | 914,000 | 869,000 | |
| Increase (Decrease) in Accrued Liabilities | −6 | −395,000 | −47,000 | 1 | 206,000 | |
| Deferred revenue | −549,000 | 5,000 | −91,000 | −462,000 | −338,000 | |
| Customer deposits | −358,000 | −1 | 755,000 | 110,000 | 1 | |
| Other assets | −106,000 | 43,000 | — | — | — | |
| Lease liabilities | −633,000 | −233,000 | — | — | — | |
| Other non-current liabilities | 0 | −37,000 | — | — | — | |
| Net cash (used in) provided by operating activities | −8 | 3 | 5 | −708,000 | 471,000 | |
| Cash paid for acquisition of Cineplex Digital Media (net of cash acquired) | −38 | 0 | 0 | −17 | 0 | |
| Purchases of property and equipment | −306,000 | −11,000 | −306,000 | −149,000 | −19,000 | |
| Capitalization of costs for software development | −2 | −3 | −4 | −4 | −1 | |
| Net cash used in investing activities | −40 | −3 | −4 | −21 | −1 | |
| Proceeds from sale of Series A Redeemable Convertible Preferred Stock | 30 | 0 | — | — | — | |
| Payment of issuance costs related to Series A Redeemable Convertible Preferred Stock | −3 | 0 | — | — | — | |
| Proceeds from term debt | 36 | 0 | — | — | — | |
| Repayment of term debts | −490,000 | −15 | −5 | −1 | −100,000 | |
| Proceeds from borrowings under revolving credit facility | 42 | 31 | 0 | — | — | |
| Repayment of borrowings under revolving credit facility | −50 | −18 | 0 | — | — | |
| Payment of contingent consideration | −3 | 0 | — | — | — | |
| Payment of deferred financing costs | −850,000 | −306,000 | 0 | — | — | |
| Repayment of finance lease obligations | −2 | −44,000 | −23,000 | 0 | −4,000 | |
| Net cash provided by (used in) financing activities | 49 | −2 | 137,000 | 21 | 2 | |
| Net increase (decrease) in cash and cash equivalents | 522,000 | −2 | 1 | −1 | 1 | |
| Effect of exchange rate on cash and cash equivalents | 10,000 | 0 | — | — | — |
Filings
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