San Diego Business Journal

NTN Buzztime Reports Q1 Net Loss

By Brad Graves Wednesday, May 10, 2017
   

NTN Buzztime Inc. — the Carlsbad company that provides games, electronic menus and electronic payment systems to businesses such as Buffalo Wild Wings — reported a net loss of $90,000 on revenue of $5.2 million during the first quarter.

The first quarter of 2016 brought a net loss of $1.0 million on revenue of $5.5 million.

NTN Buzztime received a $750,000 payment from an undisclosed supplier during the recently ended quarter. The one-time payment, related to a supply chain matter, buoyed the company’s financial results to the point where it almost broke even in the quarter that ended March 31.

Quarterly operating losses were $834,000 in 2017 versus $868,000 in 2016.

The business is trying to regain its listing on the NYSE MKT exchange and needs $6 million in shareholders’ equity to do so. To that end, NTN raised more money this spring.

The company’s electronics are in 2,788 venues, down from 2,814 on Dec. 31, in North America.

The business reported its financial results on May 3.

NTN also said it launched a multiplayer game for bars and restaurants called Spaceteam, which had nearly 700,000 players during its first month.