ClearOne Reports Steep Revenue Decline and Increased Net Loss in Q3 2024

CLRO
September 20, 2025
ClearOne, Inc. reported its financial results for the third quarter ended September 30, 2024, showing a significant decrease in revenue. GAAP revenue for the quarter was $2.504 million, a 49% reduction compared to $4.889 million in the third quarter of 2023. This decline was primarily attributed to a decrease in revenues from the audio conferencing category, including DSP mixer products. The company's gross profit also fell sharply to $0.612 million, a 62% decrease from $1.616 million in the prior year period. ClearOne posted a net loss of $2.062 million, or $0.09 per diluted share, which widened from a net loss of $1.351 million, or $0.06 per diluted share, in Q3 2023. Cash, cash equivalents, and investments stood at $3.0 million as of September 30, 2024, down from $22.2 million at December 31, 2023. Management cited past production shortages, delays in manufacturing transition, and a transition to a new distributor in the Middle East as key factors for the revenue decline. The company also faced sales headwinds due to its products' lack of Microsoft Teams certification. Despite these challenges, ClearOne reported an 8.7% sequential increase in revenue from Q2 2024 to Q3 2024, which management believes indicates early signs of recovery from prior year impacts. The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.