Wizzard Reports $4.1 Million Net Loss For 2010, ‘May Never Achieve Profitability’Mar 31st, 2011 | By James Lewin | Category: Podcast Distribution, Podcasting Networks
Wizzard Software has announced 2010 financial results, recording a $4.1 million net loss, on revenues of $5,5 million in 2010, a drop from their $6.5 million net loss in 2009..
Wizzard notes that, in terms of net loss, this was Wizzard’s best annual performance in over 8 years.
They also note that “We have a history of losses and we may never achieve profitability.”
Wizzard derives its revenue from podcast publishing platform fees, podcast advertising sales, App sales as well as through speech recognition and text-to-speech programming tools, distributable engines and speech related consulting services and support. Additionally, Wizzard derives revenues through the offering of home healthcare services through its wholly-owned subsidiary Interim Healthcare of Wyoming, Inc.
Revenues increased in 2010 by 7%. The increase was driven by Wizzard’s Healthcare segment.
2010 Business Highlights:
- For 2010, Wizzard Media, through their podcast-hosting service Libsyn, received 1.64 billion download requests for podcast episodes, with an average of 4.47 million episode requests per day vs. an average of 3.81 million requests per day in 2009.
- During the fourth quarter, 2010, the Wizzard Media Network hit a record high of 19,660,000 monthly unique audience members requesting 465,701,849 podcast episodes.
- Wizzard Media finished 2010 with 1,002 Podcast Apps and delivered 77 million advertising impressions over the course of the year.
Wizzard’s 2010 SEC filing can be found here.