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- **$100M+ 2026 revenue target** with high-teens EBITDA margin. 
- **$54M NC Lottery deal** and 8,000-screen retail media test. 
- **$10M+ annual synergies** from CDM acquisition. 
- **40+ new sales reps** under new CRO.

**【CEO Summary Section】**
- Acquired Cineplex Digital Media (CDM), doubling company size and adding $50M in ARR. 
- Q3 2025 revenue $10.5M (down 27% YoY) due to $2M delayed order. 
- Hired Chief Revenue Officer to improve sales conversion. 
- 2026 targets: >$100M revenue, high-teens EBITDA margin, $40M+ ARR. 
- Key wins: 4,000-location QSR deal, $54M NC Lottery deployment, 8,000-screen retail media test. 

**【CFO Financial Commentary】**
- Cash: $0.3M (down from $0.6M Q2). Debt: $39.9M post-CDM acquisition. 
- $17.7M available on $22.5M credit facility. 
- New board members: Cineplex COO, Northrun Capital execs. 
- CDM synergies: $10M+ annual by 2026. 

**【Q&A Highlights】**
- Customers enthusiastic about CDM acquisition. 
- 10+ US states issuing lottery RFPs. 
- Stadium biz expected +30-40% 2026. 
- CRO will add 40+ sales reps. 
- 2026 ARR >$40M.

Creative Realities, Inc. (CREX) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 revenue $13M (+34% QoQ), ARR run rate $18.1M. 
- **Margin Recovery**: Gross margin expected to improve in H2 as hardware installations ramp. 
- **Debt Reduction**: $3.1M debt reduction to $20.1M, targeting further deleveraging. 
- **Pipeline Strength**: 12+ new logos YTD, major QSR deal with 1,000+ locations pilot. 
- **Strategic Wins**: 7-Eleven expansion (17M+ displays over 5 years), Mexico market expansion. 
- **Competitive Edge**: SOC 2 Type 2 certification, $14,999 drive-thru hardware price point. 
- **Breakeven Target**: Aim to achieve in Q4 2025. 


**【CEO Summary Section】**
- **Q2 Financials**: Revenue of $13 million (+34% QoQ, flat YoY), gross profit $5 million (down from $6.8M in Q2 2024). Gross margin 39% (vs 52% YoY), driven by hardware sales mix. 
- **Margin Outlook**: Expect improving margins in H2 as bulk hardware purchases are installed. ARR run rate $18.1M (up from $17.3M Q1). 
- **Profitability**: Adjusted EBITDA $1.2M (vs $0.5M Q1, $1.5M YoY). Debt reduced by $3.1M to $20.1M. 
- **Pipeline Strength**: Robust pipeline with 12+ new logos YTD. Major win with QSR chain for 1,000+ locations pilot. 
- **New Initiatives**: Mexico expansion (Circle K POC, soccer stadium IPTV). AdLogic CPM+ platform testing with 3 customers. 
- **Strategic Focus**: Digital transformation in QSR (drive-thru hardware at $14,999 price point), retail media networks, and live venue IPTV. 

**【CFO Financial Commentary】**
- **Cash Position**: $600K on hand (vs $1M start of year). Sweep account applies cash to debt to minimize interest. 
- **Debt Management**: Gross debt $20.1M (vs $13M start of year). Leverage ratio 4.53x (up from 2.59x due to Q1 contingent liability). 
- **Capital Strategy**: Prioritize debt reduction while maintaining flexibility for growth. 

**【Q&A Key Highlights】**
- **Pipeline Progress**: 10 high-quality deals in pipeline, expect announcements in 2025. QSR installs delayed by footer construction but accelerating in Q3. 
- **Growth Drivers**: 7-Eleven expansion (1,100 new restaurants, 17,000+ displays over 5 years). Retail media network deployment delayed to Q4 (2,000 sites, $4M hardware). 
- **Tariff Impact**: Customers pre-purchased hardware to hedge against uncertainty. No manufacturers have raised prices yet. 
- **Mexico Expansion**: Circle K POC, soccer stadium IPTV, and stadium mobile translation pilot. 
- **Competitive Edge**: SOC 2 Type 2 certification positions as trusted enterprise partner. 
- **Breakeven Target**: Aim to achieve in Q4 2025 through revenue growth and SG&A efficiency. 


Creative Realities, Inc. (CREX) Q2 2025 Earnings Call Transcript

- **Revenue recovery underway**: Q1 down 21% YoY but ARR up 3% QoQ, with QSR partner driving 300+ installs/year.
- **Debt optimization**: Settled $12.8M liability for $7M, reducing risk while maintaining financial flexibility.
- **Growth catalysts**: BCTV ($3M+ H2), Digi Point ($4M+ H2), and expanding sports/entertainment pipeline.
- **Operational strength**: 11% SG&A reduction, SOC 2 compliance, and 50%+ warehouse expansion.
- **Emerging opportunities**: Ad tech adoption accelerating, Mexico market testing POCs.

**【CEO Opening Remarks】**
- Q1 2025 revenue of $9.7M (-21% YoY) due to delayed installations, with ARR run rate rising to $17.3M (+3% QoQ). 
- Gross margin held steady at 46%, while adjusted EBITDA remained stable at $0.5M through 11% SG&A reduction to $5.2M.
- Settled $12.8M contingent liability for $7M (cash + $4M note + warrants), reducing long-term risk while increasing debt to $23.2M.
- Secured major QSR partnership with 1,000+ locations, 600 franchisees opting in for digital transformation, targeting 300+ installs/year.

**【CFO Financial Update】**
- Cash on hand of $1.1M (flat QoQ) with $23.2M gross debt vs $13M at year start.
- Debt increase driven by contingent liability settlement and working capital needs, with leverage ratio rising to 4.91x.
- Focus on optimizing capital structure and reducing debt through cash flow generation.

**【CEO Operational Updates】**
- Sports/entertainment pipeline expanded with 3 MLB projects and 7 POCs, targeting arena deployments.
- BCTV project to install 200+ sites in H2 2025, generating $3M+ revenue.
- Digi Point Media Network to deploy 2,000 IceBox locations in H2, driving $4M+ hardware revenue.
- Achieved SOC 2 Type 1 compliance in Q1, targeting Type 2 by year-end for enterprise trust.
- Expanded warehouse capacity by >50% to support H2 growth.

**【Q&A Highlights】**
- QSR partner expects 20+ locations/month installs post-Q3, with 3-year rollout plan.
- 3 large projects delayed in Q1 due to client-specific issues, now resolved.
- AdLogic CPM adoption growing, with retail media networks expected to drive 2026+ revenue.
- Mexico market testing POCs in C-stores and stadiums, targeting 2026 revenue contribution.
- RFP win rate ~70%, with 30-40 RFPs/year but 50%+ delayed decisions.


Creative Realities, Inc. (CREX) Q1 2025 Earnings Call Transcript

- **2024 Record Performance**: $50M+ revenue, 10% EBITDA, with Q4 ARR $16.8M despite timing delays.
- **AdLogic CPM+ Game Changer**: New platform targets 15% EBITDA by end-2025, enabling AdTech monetization.
- **Reflect Settlement Win-Win**: $7M liability resolved with $3M cash + $4M note, freeing up growth capital.
- **Sports Media Momentum**: 3 MLB wins in Q1, 7 POCs in pipeline, with stadium deals ranging $150K-$3M.
- **SOC 2 Compliance**: Enhancing enterprise-grade credibility for complex retail media networks.


**【CEO Opening Remarks】**
- **Record Year 2024**: Revenue exceeded $50 million, with adjusted EBITDA of 10%. Q4 revenue $11M (down 25% YoY) due to deployment timing, but ARR at $16.8M.
- **AdLogic CPM+ Launch**: New programmatic platform expected to accelerate growth, positioning CRI as a one-stop AdTech solution. Targets 15% EBITDA margin by year-end 2025.
- **Reflect Settlement**: $3M cash + $4M promissory note resolves contingent liability, providing financial flexibility and removing share overhang.

**【CFO Financial Update】**
- **Balance Sheet**: Cash $1M (down from $2.9M), gross debt $13M (down 16% YoY). Q1 2025 debt expected to rise due to settlement and seasonal needs.
- **Leverage Management**: Gross leverage 2.59x (down from 2.97x YoY), targeting deleveraging over time.
- **Cost Control**: Operating expenses down 5% YoY, supporting EBITDA recovery.

**【New Business & Platform Updates】**
- **Sports Media Growth**: 3 MLB projects awarded in Q1 2025, 7 POCs in progress. Stadium deployments range $150K-$3M, with 4 large POCs poised to convert.
- **SOC 2 Compliance**: Achieved Type 1 certification, targeting Type 2 by year-end to enhance enterprise trust.
- **Channel Expansion**: New VP of Business Development driving pipeline growth, with focus on complex retail media networks ($40M+ projects).

**【Q&A Key Themes】**
- **Tariff Impact**: Minimal expected effect on domestic mounts, but display tariffs could delay projects.
- **Pipeline Visibility**: 2-3 large retail media networks and QSRs ready to deploy, with POCs taking 90-180 days.
- **Cash Flow Dynamics**: Public projects may require upfront investment, while private deals secure deposits upfront.
- **AdLogic Adoption**: Existing customers upgrading to retail media networks, with new monetization models (CPM+ ad revenue share) driving margins.


Actual					-4.05		-0.18			0.27	-0.09	-0.42	0.51	0.18	-0.09	-0.19	-0.14	-0.19	-0.22	0.2	-0.01	-0.06	0.01	-0.27	0.32	-0.17	-0.75
Forecast					-0.45	-0.21	-0.09	-0.03	0.03	0.06	0.06	0.06		-0.225	-0.12	-0.18	-0.11	-0.165	-0.105	-0.065	-0.06	-0.06	-0.0167	-0.11	-0.125	-0.07	-0.1233
Surprise	0.00%	0.00%	0.00%	0.00%	-800.00%	0.00%	-100.00%	0.00%	0.00%	+350.00%	-250.00%	-800.00%	0.00%	+180.00%	+25.00%	-5.56%	-27.27%	-15.15%	-109.52%	+407.69%	+83.33%	0.00%	+159.88%	-145.45%	+356.00%	-142.86%	-508.27%

CREX

CREX fundamentals

CREX Q3 2025 Earnings

Earnings Call

You can ask Aime

CREX

CREX fundamentals

CREX Q3 2025 Earnings

Earnings Call

CREX Earnings Call Summary for Q3/20259:00 AM on Nov 12, 2025

CREX Earnings Call Summary for Q2/20259:00 AM on Aug 13, 2025

CREX Earnings Call Summary for Q1/20259:00 AM on May 14, 2025

CREX Earnings Call Summary for Q4/20249:00 AM on Mar 17, 2025

CREX Earnings Call Summary for Q3/20249:00 AM on Nov 13, 2024

You can ask Aime