Tech News
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Haivision Brings Cloud-Based Video Solutions to Microsoft Azure Marketplace
MONTREAL, Nov. 4, 2015 (GLOBE NEWSWIRE) -- Haivision, a market leader in video streaming and media management solutions, today announced the availability of the Haivision Media Gateway on Microsoft Azure, giving enterprises and broadcasters a flexible and cost-effective solution for transporting high quality video for live events, broadcast backhaul and distribution.
With Haivision Media Gateway on Azure, organizations can utilize the benefits of the cloud to scale their live video workflows with minimal IT intervention. The solution provides ease of set-up and commissioning, without putting a strain on the network at the source location, bringing a welcome alternative to the long lead times, prohibitive costs and scheduling challenges associated with satellite and MPLS networks.
Broadcast and enterprise customers can use Haivision Media Gateway in the cloud for:- Transporting high quality live video using Internet connections: Powered by Haivision's fundamental video transport technology – SRT – the Haivision Media Gateway enables customers to use low cost, readily available public Internet connections to transport secure, live, HD video to and from multiple locations around the world. The Haivision Media Gateway with SRT also features different options to easily manage firewall traversal.
- Enterprise video distribution: With Haivision Media Gateway, organizations can now easily distribute live events from remote sites like hotels and satellite offices, by sending a single stream to the cloud before being distributed to multiple facilities or redistribution points with low latency.
- Broadcast backhaul and distribution: Organizations can use the Haivision Media Gateway as a video network bridge to transport video between studio environments. For broadcasters, this means an easier way to backhaul video to a centralized production venue before being distributed to remote affiliates.
"Cloud-based video workflows are revolutionizing the potential of live video within the enterprise and broadcast markets," said Peter Maag, Haivision's CMO. "These industries are becoming very comfortable with the simple provisioning of cloud resources in contrast to the complexity of contracting satellite or custom networks."
"With Haivision's inclusion in the Azure Marketplace, we're extending our platform to support customers with enterprise video and broadcast solutions – bringing a more flexible and scalable solution for video transport using the cloud," said Venkat Gattamneni, Group Product Marketing Manager, Microsoft Azure.For more information about Haivision Media Gateway in the cloud, visit Haivision on Azure Marketplace.
About HaivisionHaivision provides media management and video streaming solutions that help the world's leading organizations communicate, collaborate and educate. Recognized as one of the most influential companies in video by Streaming Media, Haivision's mission is to help people work better with video. Haivision is headquartered in Montreal and Chicago, with regional offices located throughout the United States, Europe, Asia and South America. Learn more about Haivision at haivision.com, LinkedIn, Twitter, Facebook and on our Video Wall.
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=37384
CONTACT: Jennifer Gazin PR and Communications Manager 514.334.5445 x8309 jgazin@haivision.com
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LiveHive Names Jennifer Brandenburg As Chief Revenue Officer
SAN JOSE, CALIF., Nov. 4, 2015 (GLOBE NEWSWIRE) -- LiveHive, Inc., the industry's most comprehensive sales acceleration platform, today announced that it has appointed former Oracle sales executive Jennifer Brandenburg as Chief Revenue Office (CRO). Brandenburg brings with her more than 20 years of deep enterprise sales experience managing sales operations and growing sales organizations in the high technology industry. Brandenburg has led sales organizations at early stage startups to large enterprise companies worldwide, including serving as regional VP, CRM OnDemand sales at Oracle Corporation, where she increased ASP by 100% and closed over $16 million in revenue annually.
"LiveHive's customer base is growing rapidly," said Suresh Balasubramanian, CEO of LiveHive, Inc. "This makes it the perfect time for us to bring Jennifer on board. Her broad experience and proven success at some of the biggest tech companies in Silicon Valley make her the most qualified person to lead our sales organization and drive revenue during this hyper-growth stage."
"I've been in sales and operations my entire professional career and understand first-hand the critical need that LiveHive fills for sales organizations," said Jennifer Brandenburg, CRO of LiveHive, Inc. "LiveHive's analytics and automation give teams a powerful solution to maximize sales productivity. As a sales leader, I look forward to bringing these capabilities to customers and quickly scaling LiveHive."
About LiveHive
Headquartered in San Jose, California, LiveHive, Inc. delivers a complete sales acceleration platform that empowers sales leaders with deep buyer-based engagement analytic insights into the effectiveness of their team's sales efforts. With LiveHive's comprehensive analytics, sales organizations can personalize and automate their follow-up to get more time in the day to focus on building sales relationships and accelerating sales.
LiveHive helps sales leaders get insight into reps' email, calling and follow-up activity, ramp up new reps to full productivity faster, and ensure consistent messaging across the organization, empowering them to build a successful repeatable sales process. LiveHive's SmartPath automated email sequencing, and award-winning engagement analytics let sales reps focus on core selling activity and sales leaders quickly understand the effectiveness of their sales teams' efforts. For more information, visit www.livehive.com and follow us @LiveHive.A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=37375CONTACT: Media Contact: Jennifer Dignum 650-814-2727 (cell) 408-453-6000 (office) jennifer@livehive.com @LiveHive
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LiveHive Names Jennifer Brandenburg As Chief Revenue Officer
SAN JOSE, CALIF., Nov. 4, 2015 (GLOBE NEWSWIRE) -- LiveHive, Inc., the industry's most comprehensive sales acceleration platform, today announced that it has appointed former Oracle sales executive Jennifer Brandenburg as Chief Revenue Office (CRO). Brandenburg brings with her more than 20 years of deep enterprise sales experience managing sales operations and growing sales organizations in the high technology industry. Brandenburg has led sales organizations at early stage startups to large enterprise companies worldwide, including serving as regional VP, CRM OnDemand sales at Oracle Corporation, where she increased ASP by 100% and closed over $16 million in revenue annually.
"LiveHive's customer base is growing rapidly," said Suresh Balasubramanian, CEO of LiveHive, Inc. "This makes it the perfect time for us to bring Jennifer on board. Her broad experience and proven success at some of the biggest tech companies in Silicon Valley make her the most qualified person to lead our sales organization and drive revenue during this hyper-growth stage."
"I've been in sales and operations my entire professional career and understand first-hand the critical need that LiveHive fills for sales organizations," said Jennifer Brandenburg, CRO of LiveHive, Inc. "LiveHive's analytics and automation give teams a powerful solution to maximize sales productivity. As a sales leader, I look forward to bringing these capabilities to customers and quickly scaling LiveHive."
About LiveHive
Headquartered in San Jose, California, LiveHive, Inc. delivers a complete sales acceleration platform that empowers sales leaders with deep buyer-based engagement analytic insights into the effectiveness of their team's sales efforts. With LiveHive's comprehensive analytics, sales organizations can personalize and automate their follow-up to get more time in the day to focus on building sales relationships and accelerating sales.
LiveHive helps sales leaders get insight into reps' email, calling and follow-up activity, ramp up new reps to full productivity faster, and ensure consistent messaging across the organization, empowering them to build a successful repeatable sales process. LiveHive's SmartPath automated email sequencing, and award-winning engagement analytics let sales reps focus on core selling activity and sales leaders quickly understand the effectiveness of their sales teams' efforts. For more information, visit www.livehive.com and follow us @LiveHive.A photo accompanying this release is available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=37375CONTACT: Media Contact: Jennifer Dignum 650-814-2727 (cell) 408-453-6000 (office) jennifer@livehive.com @LiveHive
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TubeMogul Launches Select Access to Automate Private Inventory Management for Brands and Agencies
EMERYVILLE, Calif., Nov. 4, 2015 (GLOBE NEWSWIRE) -- Today, TubeMogul (NASDAQ:TUBE), a leading enterprise software company for brand advertising, announced the launch of Select Access, a transparent and controlled programmatic reservation interface that streamlines direct deals between marketers and leading publishers. Select Access enables brands and agencies to express their demand for premium inventory to a select group of publishers and use software to automate the access to that inventory.
Select Access is comprised of two solutions, On Demand and Direct Sales Reservation. On Demand simplifies the non-reserved private deal process for both advertisers and publishers by enabling access to programmatic inventory from premium publishers while ensuring those publishers have full control over the terms of the transaction.
Direct Sales Reservation enables TubeMogul clients to automate their reserved inventory requests to the sales team of a select group of premium publishers and operationalize deals through the TubeMogul platform. In this way, the software brings increased automation to new agreements between brands, agencies and premium publishers.
At launch, over 50 top TV networks and media companies are integrated with Select Access, including A+E Networks, Discovery Communications and Univision. Approximately 2.4 billion video impressions will be available via Select Access in 2015.
"A+E Networks has consistently led the way in delivering television content via A+E digital platforms. Select Access helps us highlight our premium inventory to agency buyers while automating and streamlining many of the direct and ongoing deals we have with top marketers," said Sarah Shriver, VP Digital Ad Sales at A+E Networks.
"With a strong portfolio of powerful brands and premium video offerings, Discovery Communications partners with advertisers to reach highly engaged audiences with impactful solutions," said Harold Morgenstern, Senior Vice President of Digital Ad Sales at Discovery Communications. "TubeMogul's Select Access is a welcome addition, allowing us to deepen existing partnerships with brand advertisers and facilitate new, direct deals."
Over 10 clients have already tested or committed to use Select Access, including Lenovo, Empower MediaMarketing and Trilia Media.
"At Empower it's our constant quest to push the media status quo for our clients," Jim Price, Empower MediaMarketing CEO and president, said. "With Select Access we can deliver premium content to audiences through an agile automated platform that is cost-efficient for our clients."
"While programmatic has indelibly altered the media buying landscape, the reality is that some direct and private deals are still negotiated manually," said Katie Thompson, VP of Platform Media / Group Media at Trilia Media. "This product shows promise because it extends the benefits of automation -- like streamlined buying, optimization and reporting -- to many of these deals."
About TubeMogul
TubeMogul (NASDAQ:TUBE) is an enterprise software company for brand advertising. By reducing complexity, improving transparency and leveraging real-time data, our platform enables advertisers to gain greater control of their global advertising spend and achieve their brand advertising objectives. TubeMogul was incorporated in 2007 and is based in Emeryville, California with operations in Kyiv, London, Mexico City, New York, Paris, Sao Paulo, Shanghai, Singapore, Sydney, Tokyo, Toronto and offices across the United States.
CONTACT: Media Contact: David Burch press@tubemogul.com Investor Relations Contact: Alex Wellins The Blueshirt Group investor@tubemogul.com
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UBIC Subsidiary RAPPA Launches Kenkojiman.com
To become a valuable, integrated and interactive website connecting users and matching them with their desired information through AI technology
NEW YORK, Nov. 4, 2015 (GLOBE NEWSWIRE) -- Rappa, Inc., a wholly-owned subsidiary of UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) ("UBIC" or "the Company"), a leading provider of artificial intelligence (AI)-based big data analysis services, announced today that on November 4, 2015, it launched Kenkojiman.com, a community website where users can consume and provide information concerning medicine, healthcare and beauty care.
Features of the community website Kenkojiman.com
Provides useful healthcare information mainly authored by in-house editorial staff
Kenkojiman.com provides current information primarily through original articles concerning medicine, healthcare and beauty care that is useful for everyday life. Information collected from around the world is classified into seven categories: beauty, body, exercise, food, mind, medicine and unhealthy behavior.
Facilitates exchanges and consultation through user contributions
Kenkojiman.com provides users with a platform to contribute information and communicate with one another about posted articles and personal experiences concerning health and beauty care. Users can deepen exchanges with each other by posting comments on their own experiences, or by starting new topics. (Note: In order to post comments and add articles to "Favorites," free user registration is required).
User-friendly interface promotes exchanges between users of various age groups
The intuitive website design enables people of various age groups, from those in their 20s to seniors, to use it with ease. This site provides a community forum for consulting with others, giving and receiving advice and exchanging information concerning healthcare among people with similar interests or problems across age groups. Moreover, in February, this site will evolve into a new healthcare community site that matches users with similar interests and preferences by using UBIC's cutting-edge AI technology, thereby making it easy for users to find information best suited to their needs.
Soon to become an AI-enabled website that offers personalized recommendations
In February 2016, Kenkojiman.com will be equipped with UBIC's proprietary AI system that can learn and reproduce human intuition and thinking based on a limited amount of data. It will recommend articles suited to users' preferences or related to their problems as well as to website visitors who may be able to share their thought. Kenkojiman.com will be a new type of site that can help to address individual users' healthcare problems.
By reviewing comments from ordinary users through Kenkojiman.com and by analyzing the opinions and behavior of a broad range of people, UBIC and Rappa aim to develop an AI system capable of offering the best possible user-to-content, matching and enhancing user-to-user relationships. In the future, the two companies will extend the application of the AI system beyond the healthcare field and accelerate its business expansion in the marketing field.
About Rappa, Inc. URL: http://www.rappa.com/
Rappa, Inc. applies UBIC's proprietary AI technology to digital marketing and engages in such businesses as providing digital curation service and operating community sites. It uses AI technology to identify people's interests and preferences and find necessary information from among the mass of data available on the Internet. Through such activity, Rappa aims to contribute to social development by providing people with opportunities to find information valuable for themselves and helping to unlock their creative potential. Rappa was founded on September 1, 2015, as a wholly-owned subsidiary of UBIC with capital of 10 million yen (as of September 2015).
About UBIC, Inc.
UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) supports the analysis of big data based on behavior informatics by utilizing its proprietary AI-based software program, "VIRTUAL DATA SCIENTIST" or VDS. Developed by UBIC based on knowledge acquired through its litigation support services, the VDS program incorporates experts' tacit knowledge, including their experiences and intuitions, and utilizes that knowledge for big data analysis. UBIC continues to expand its business operations by applying VDS to new fields such as healthcare and marketing.
UBIC was founded in 2003 as a provider of e-discovery and international litigation support services. These services include the preservation, investigation and analysis of evidence materials contained in electronic data, and computer forensic investigation. UBIC provides e-discovery and litigation support by making full use of its data analysis platform, "Lit i View®", and its Predictive Coding technology adapted to Asian languages.
For more information about UBIC, contact u-contact@ubic.co.jp or visit http://www.ubicna.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the amount of data that UBIC expects to manage this year and the potential uses for UBIC's new service in intellectual property-related litigation, contain forward-looking statements. UBIC may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about UBIC's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: UBIC's goals and strategies; UBIC's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, UBIC's services; UBIC's expectations regarding keeping and strengthening its relationships with customers; UBIC's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where UBIC provides solutions and services. Further information regarding these and other risks is included in UBIC's reports filed with, or furnished to the Securities and Exchange Commission. UBIC does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and UBIC undertakes no duty to update such information, except as required under applicable law.
CONTACT: UBIC Global PR UBIC North America, Inc. Tel: (212) 924-8242 global_pr@ubic.co.jp
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TubeMogul Launches Select Access to Automate Private Inventory Management for Brands and Agencies
EMERYVILLE, Calif., Nov. 4, 2015 (GLOBE NEWSWIRE) -- Today, TubeMogul (NASDAQ:TUBE), a leading enterprise software company for brand advertising, announced the launch of Select Access, a transparent and controlled programmatic reservation interface that streamlines direct deals between marketers and leading publishers. Select Access enables brands and agencies to express their demand for premium inventory to a select group of publishers and use software to automate the access to that inventory.
Select Access is comprised of two solutions, On Demand and Direct Sales Reservation. On Demand simplifies the non-reserved private deal process for both advertisers and publishers by enabling access to programmatic inventory from premium publishers while ensuring those publishers have full control over the terms of the transaction.
Direct Sales Reservation enables TubeMogul clients to automate their reserved inventory requests to the sales team of a select group of premium publishers and operationalize deals through the TubeMogul platform. In this way, the software brings increased automation to new agreements between brands, agencies and premium publishers.
At launch, over 50 top TV networks and media companies are integrated with Select Access, including A+E Networks, Discovery Communications and Univision. Approximately 2.4 billion video impressions will be available via Select Access in 2015.
"A+E Networks has consistently led the way in delivering television content via A+E digital platforms. Select Access helps us highlight our premium inventory to agency buyers while automating and streamlining many of the direct and ongoing deals we have with top marketers," said Sarah Shriver, VP Digital Ad Sales at A+E Networks.
"With a strong portfolio of powerful brands and premium video offerings, Discovery Communications partners with advertisers to reach highly engaged audiences with impactful solutions," said Harold Morgenstern, Senior Vice President of Digital Ad Sales at Discovery Communications. "TubeMogul's Select Access is a welcome addition, allowing us to deepen existing partnerships with brand advertisers and facilitate new, direct deals."
Over 10 clients have already tested or committed to use Select Access, including Lenovo, Empower MediaMarketing and Trilia Media.
"At Empower it's our constant quest to push the media status quo for our clients," Jim Price, Empower MediaMarketing CEO and president, said. "With Select Access we can deliver premium content to audiences through an agile automated platform that is cost-efficient for our clients."
"While programmatic has indelibly altered the media buying landscape, the reality is that some direct and private deals are still negotiated manually," said Katie Thompson, VP of Platform Media / Group Media at Trilia Media. "This product shows promise because it extends the benefits of automation -- like streamlined buying, optimization and reporting -- to many of these deals."
About TubeMogul
TubeMogul (NASDAQ:TUBE) is an enterprise software company for brand advertising. By reducing complexity, improving transparency and leveraging real-time data, our platform enables advertisers to gain greater control of their global advertising spend and achieve their brand advertising objectives. TubeMogul was incorporated in 2007 and is based in Emeryville, California with operations in Kyiv, London, Mexico City, New York, Paris, Sao Paulo, Shanghai, Singapore, Sydney, Tokyo, Toronto and offices across the United States.
CONTACT: Media Contact: David Burch press@tubemogul.com Investor Relations Contact: Alex Wellins The Blueshirt Group investor@tubemogul.com
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UBIC Subsidiary RAPPA Launches Kenkojiman.com
To become a valuable, integrated and interactive website connecting users and matching them with their desired information through AI technology
NEW YORK, Nov. 4, 2015 (GLOBE NEWSWIRE) -- Rappa, Inc., a wholly-owned subsidiary of UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) ("UBIC" or "the Company"), a leading provider of artificial intelligence (AI)-based big data analysis services, announced today that on November 4, 2015, it launched Kenkojiman.com, a community website where users can consume and provide information concerning medicine, healthcare and beauty care.
Features of the community website Kenkojiman.com
Provides useful healthcare information mainly authored by in-house editorial staff
Kenkojiman.com provides current information primarily through original articles concerning medicine, healthcare and beauty care that is useful for everyday life. Information collected from around the world is classified into seven categories: beauty, body, exercise, food, mind, medicine and unhealthy behavior.
Facilitates exchanges and consultation through user contributions
Kenkojiman.com provides users with a platform to contribute information and communicate with one another about posted articles and personal experiences concerning health and beauty care. Users can deepen exchanges with each other by posting comments on their own experiences, or by starting new topics. (Note: In order to post comments and add articles to "Favorites," free user registration is required).
User-friendly interface promotes exchanges between users of various age groups
The intuitive website design enables people of various age groups, from those in their 20s to seniors, to use it with ease. This site provides a community forum for consulting with others, giving and receiving advice and exchanging information concerning healthcare among people with similar interests or problems across age groups. Moreover, in February, this site will evolve into a new healthcare community site that matches users with similar interests and preferences by using UBIC's cutting-edge AI technology, thereby making it easy for users to find information best suited to their needs.
Soon to become an AI-enabled website that offers personalized recommendations
In February 2016, Kenkojiman.com will be equipped with UBIC's proprietary AI system that can learn and reproduce human intuition and thinking based on a limited amount of data. It will recommend articles suited to users' preferences or related to their problems as well as to website visitors who may be able to share their thought. Kenkojiman.com will be a new type of site that can help to address individual users' healthcare problems.
By reviewing comments from ordinary users through Kenkojiman.com and by analyzing the opinions and behavior of a broad range of people, UBIC and Rappa aim to develop an AI system capable of offering the best possible user-to-content, matching and enhancing user-to-user relationships. In the future, the two companies will extend the application of the AI system beyond the healthcare field and accelerate its business expansion in the marketing field.
About Rappa, Inc. URL: http://www.rappa.com/
Rappa, Inc. applies UBIC's proprietary AI technology to digital marketing and engages in such businesses as providing digital curation service and operating community sites. It uses AI technology to identify people's interests and preferences and find necessary information from among the mass of data available on the Internet. Through such activity, Rappa aims to contribute to social development by providing people with opportunities to find information valuable for themselves and helping to unlock their creative potential. Rappa was founded on September 1, 2015, as a wholly-owned subsidiary of UBIC with capital of 10 million yen (as of September 2015).
About UBIC, Inc.
UBIC, Inc. (Nasdaq:UBIC) (TSE:2158) supports the analysis of big data based on behavior informatics by utilizing its proprietary AI-based software program, "VIRTUAL DATA SCIENTIST" or VDS. Developed by UBIC based on knowledge acquired through its litigation support services, the VDS program incorporates experts' tacit knowledge, including their experiences and intuitions, and utilizes that knowledge for big data analysis. UBIC continues to expand its business operations by applying VDS to new fields such as healthcare and marketing.
UBIC was founded in 2003 as a provider of e-discovery and international litigation support services. These services include the preservation, investigation and analysis of evidence materials contained in electronic data, and computer forensic investigation. UBIC provides e-discovery and litigation support by making full use of its data analysis platform, "Lit i View®", and its Predictive Coding technology adapted to Asian languages.
For more information about UBIC, contact u-contact@ubic.co.jp or visit http://www.ubicna.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the amount of data that UBIC expects to manage this year and the potential uses for UBIC's new service in intellectual property-related litigation, contain forward-looking statements. UBIC may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about UBIC's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: UBIC's goals and strategies; UBIC's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, UBIC's services; UBIC's expectations regarding keeping and strengthening its relationships with customers; UBIC's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where UBIC provides solutions and services. Further information regarding these and other risks is included in UBIC's reports filed with, or furnished to the Securities and Exchange Commission. UBIC does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and UBIC undertakes no duty to update such information, except as required under applicable law.
CONTACT: UBIC Global PR UBIC North America, Inc. Tel: (212) 924-8242 global_pr@ubic.co.jp
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Reflexion Health Digital Medicine Therapy Tool, Vera(TM), Receives FDA 510(k) Clearance
SAN DIEGO, Nov. 4, 2015 (GLOBE NEWSWIRE) -- San Diego based Reflexion Health, a digital medicine company using Microsoft Kinect motion-tracking technology to reimagine rehabilitation medicine; today announced the US Food and Drug Administration (FDA) has cleared its motion-tracking based physical therapy tool, Vera™.
Vera is an easily operated, digital medicine software system using the Microsoft Kinect technology to aid patients with musculoskeletal rehabilitation. Vera projects an avatar onto a screen, coaches and motivates patients to perform exercises at home, all the while tracking and reporting back data to the physical therapist who monitors progress and optimizes therapy in real time. Vera provides next generation therapy for patients in an engaging, affordable and convenient platform.
"We are thrilled to be one of a growing number of digital medicine companies to receive FDA clearance to use innovative tools and methods, such as Vera, to deliver care in a more engaging and efficient way," said Spencer Hutchins, CEO and co-founder of Reflexion Health. "We look forward to continuing to demonstrate Vera's positive impact on patients, doctors, and therapists."
Reflexion is currently partnering with the Cleveland Clinic and the Brooks Rehabilitation Center in Jacksonville, Florida to deliver Vera to patients recovering from joint replacement surgery. Reflexion has also received a $1 million grant from the Centers for Disease Control to use Vera in fall prevention for seniors. As part of this grant the technology is currently employed in two senior populations in San Diego, California and Fearrington, North Carolina.
About Reflexion HealthReflexion Health is a digital medicine company using motion-tracking technologies to reimagine rehabilitation medicine. The first product, Vera™, is an FDA cleared, easily operated digital medicine software system using the Microsoft Kinect technology to project the avatar onto a screen, help patients perform exercises at home and report the results back to the physical therapist so the therapy can be adjusted to patient needs. Vera provides 21st century therapy for patients by improving rehab affordability, convenience, data driven evidence and an engaging platform. Vera is currently used by patients preparing for, and recovering from, joint replacement surgery and used as a preventative therapy to reduce falls. For more information, visit www.reflexionhealth.com.
CONTACT: Holly Hitchcock Holly@CruxPartners.com 805.801.9798
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Reflexion Health Digital Medicine Therapy Tool, Vera(TM), Receives FDA 510(k) Clearance
SAN DIEGO, Nov. 4, 2015 (GLOBE NEWSWIRE) -- San Diego based Reflexion Health, a digital medicine company using Microsoft Kinect motion-tracking technology to reimagine rehabilitation medicine; today announced the US Food and Drug Administration (FDA) has cleared its motion-tracking based physical therapy tool, Vera™.
Vera is an easily operated, digital medicine software system using the Microsoft Kinect technology to aid patients with musculoskeletal rehabilitation. Vera projects an avatar onto a screen, coaches and motivates patients to perform exercises at home, all the while tracking and reporting back data to the physical therapist who monitors progress and optimizes therapy in real time. Vera provides next generation therapy for patients in an engaging, affordable and convenient platform.
"We are thrilled to be one of a growing number of digital medicine companies to receive FDA clearance to use innovative tools and methods, such as Vera, to deliver care in a more engaging and efficient way," said Spencer Hutchins, CEO and co-founder of Reflexion Health. "We look forward to continuing to demonstrate Vera's positive impact on patients, doctors, and therapists."
Reflexion is currently partnering with the Cleveland Clinic and the Brooks Rehabilitation Center in Jacksonville, Florida to deliver Vera to patients recovering from joint replacement surgery. Reflexion has also received a $1 million grant from the Centers for Disease Control to use Vera in fall prevention for seniors. As part of this grant the technology is currently employed in two senior populations in San Diego, California and Fearrington, North Carolina.
About Reflexion HealthReflexion Health is a digital medicine company using motion-tracking technologies to reimagine rehabilitation medicine. The first product, Vera™, is an FDA cleared, easily operated digital medicine software system using the Microsoft Kinect technology to project the avatar onto a screen, help patients perform exercises at home and report the results back to the physical therapist so the therapy can be adjusted to patient needs. Vera provides 21st century therapy for patients by improving rehab affordability, convenience, data driven evidence and an engaging platform. Vera is currently used by patients preparing for, and recovering from, joint replacement surgery and used as a preventative therapy to reduce falls. For more information, visit www.reflexionhealth.com.
CONTACT: Holly Hitchcock Holly@CruxPartners.com 805.801.9798
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Kornit Digital Reports Third Quarter 2015 Results
Highlights
- Third quarter 2015 sales of $22.2 million, an increase of 20.0% over the prior year
- Non-GAAP operating margin of 13.5%, or $3 million; GAAP operating margin of 10%, or $2.2 million
- Third quarter non-GAAP net income of $2.9 million, or $0.09 per diluted share; GAAP net income of $2.1 million or $0.07 per diluted share.
- Key customer places fourth order for Allegro R2R system
ROSH-HA'AYIN, Israel, Nov. 3, 2015 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (NASDAQ:KRNT), a leading provider of digital printing solutions for the global printed textile industry, today reported results for the third quarter ended September 30, 2015.
Sales for the third quarter of 2015 increased 20.0% year-over-year to $22.2 million, as a result of incremental revenue associated with the new Allegro roll-to-roll system, combined with continued growth in direct-to-garment (DTG) systems and ink.
Non-GAAP net income in the third quarter of 2015 was $2.9 million, or $0.09 per diluted share, compared to prior-year net income of $3.5 million. On a GAAP basis, the Company reported a net income of $2.1 million, or $0.07 per diluted share, compared to a net income of $3.2 million, in the third quarter of 2014.
Gabi Seligsohn, Kornit Digital's Chief Executive Officer commented, "During the third quarter, we continued to deepen our customer relationships and generate strong interest for our disruptive solutions, particularly of our recently introduced high throughput systems. To that point, throughout the quarter we hosted multiple demonstrations for our newly introduced Allegro and pre-beta Vulcan systems, which generated strong customer interest. For the Allegro, several customer interactions have led to system orders which will be installed during the fourth quarter. For Vulcan, we successfully executed on multiple pre-beta customer demos, all of which have led to firm demand for systems by those customers."
Seligsohn continued, "We are pleased with the growth in our business through the first nine-months of 29% vs. the same period last year, although third quarter growth came in at the lower end of our guided range due to the timing of system volume. As we have seen in the past, quarter-to-quarter growth is not linear at this stage in our evolution. Looking to the balance of the year, we anticipate revenue from our recently introduced high throughput systems and volume from several new customers to provide a tailwind as we close out 2015."
Results of Operations
In the third quarter of 2015, Kornit reported sales of $22.2 million, an increase of 20.0% compared with the prior-year level of $18.5 million. Higher sales were the result of contributions from all product categories including systems, ink and consumables, and services.
Non-GAAP gross margin as a percentage of sales in the third quarter of 2015 was 48.3%, compared with 50.6% in the prior-year period. Lower gross margin compared to the prior year resulted from two large customer orders of multiple high-end systems in the third quarter of 2014, which provided a favorable margin rate during the period. Excluding the impact of these orders, our gross margin run rate continued to expand as a result of the ongoing mix shift to higher throughput systems, incremental ink sales, and a stronger contribution from services. On a GAAP basis, gross margin was $10.6 million, or 47.6% of sales.
Non-GAAP operating expenses in the third quarter increased to $7.7 million, compared to $5.6 million in the prior year. The increase in total operating expenses is consistent with the previously stated growth strategy, as the Company continues to execute to its global infrastructure build out. As a percent of sales, non-GAAP operating expenses for the third quarter were 34.8% of sales, an increase from 30.4% of sales in the prior year. On a GAAP basis, operating expenses were $8.4 million, or 37.7% during the quarter.
Non-GAAP research and development expenses were $2.9 million, compared to $2.2 million in the prior-year. On a GAAP basis, research and development expenses were $3.1 million, or 13.8% of sales during the quarter.
Non-GAAP operating profit in the third quarter declined to $3.0 million, compared to $3.7 million in the prior year. As a percent of sales, non-GAAP operating profit for the third quarter was 13.5% of sales, a decrease from 20.2% of sales in the prior year.
Non-GAAP net income for the third quarter of 2015 were $2.9 million, or $0.09 per diluted share, compared with Non-GAAP net income of $3.5 million, or $0.31 in the prior year period.
On a GAAP basis, the Company reported net earnings of $2.1 million, or $0.07 per diluted share, compared to a net income of $3.2 million, or $0.3 per diluted share in the third quarter of 2014.
2015 Third Quarter Guidance
The Company will discuss the details of its guidance live during its earnings conference call, which will be available for replay via webcast at ir.kornit.com.
Conference Call Information
Kornit will host a conference call today at 5:00 p.m. ET, or 12:00 a.m. Israel time, to discuss the results, followed by a question and answer session for the investment community. A live webcast of the call can be accessed at ir.kornit.com. To access the call, participants may dial toll-free at 1-888-427-9411 or +1-719-325-2458. The toll-free Israeli number is 1-809-24 5906. The confirmation code is 8335584.
To listen to a telephonic replay of the conference call, dial toll-free 1-877-870-5176 or +1-858-384-5517 (international) and enter confirmation code 8335584. The telephonic replay will be available beginning at 8:00 p.m. ET on Tuesday, November 3, 2015, and will last through 11:59 p.m. ET November 17, 2015. The call will also be available for replay via the webcast link on Kornit's Investor Relations website.
Forward Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Forward-looking statements are characterized by the use of forward-looking terminology such as "will," "expects," "anticipates," "continue," "believes," "should," "intended," "guidance," "preliminary," "future," "planned," or other words. These forward-looking statements include, but are not limited to, statements relating to the company's objectives, plans and strategies, statements of preliminary or projected results of operations or of financial condition and all statements that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: development of the market for digital textile printing, availability of alternative ink, competition, sales concentration, changes to our relationships with suppliers, our success in developing, introducing and selling new or improved products, our success in marketing, our success in effectively increasing our field presence and those factors referred to under "Risk Factors" in the company's final prospectus filed with the U.S. Securities and Exchange Commission. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Discussion Disclosure
Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude acquisition related expenses, share-based compensation expenses, amortization of acquired intangible assets and compensation related to the IPO. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage and evaluate our business and make operating decisions, and we believe that they are useful to investors as a consistent and comparable measure of the ongoing performance of our business. However, our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.
About Kornit
Kornit develops, designs and markets innovative digital printing solutions for the global printed textile industry. Kornit's solution includes its proprietary digital printing systems, ink and other consumables, associated software and value added services. Kornit's vision is to revolutionize the textile industry by facilitating the transition from analog processes that have not evolved for decades to digital methods of production that address contemporary supply, demand and environmental dynamics. Kornit is a global company headquartered in Rosh-Ha`Ayin, Israel, with U.S. offices in Mequon, Wisconsin and additional sales, support and marketing offices in Germany and Hong Kong.
KORNIT DIGITAL LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (U.S. dollars in thousands, except share and per share data) Nine Months Ended Three Months Ended September 30, September 30, 2015 2014 2015 2014 (Unaudited) (Unaudited) Revenues $ 61,077 $ 47,495 $ 22,201 $ 18,494 Cost of revenues 32,547 26,855 11,624 9,196 Gross profit 28,530 20,640 10,577 9,298 Operating expenses: Research and development 8,573 6,851 3,067 2,263 Selling and marketing 9,175 7,569 3,264 2,195 General and administrative 7,213 3,716 2,028 1,393 Total operating expenses 24,961 18,136 8,359 5,851 Operating income 3,569 2,504 2,218 3,447 Financial income (expenses), net (170) (199) 279 (105) Income before taxes on income 3,399 2,305 2,497 3,342 Taxes on income 739 476 354 173 Net income 2,660 1,829 2,143 3,169 Basic net income per share $ 0.12 $ 0.20 $ 0.07 $ 0.35 Weighted average number of shares used in computing basic net income per share 22,814,312 8,968,343 29,779,017 8,968,343 Diluted net income per share $ 0.11 $ 0.18 $ 0.07 $ 0.30 Weighted average number of shares used in computing diluted net income per share 24,734,519 10,139,704 31,743,307 10,663,649 KORNIT DIGITAL LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF INCOME (U.S. dollars in thousands, except per share data) Nine Months Ended Three Months Ended September 30, September 30, 2015 2014 2015 2014 (Unaudited) (Unaudited) GAAP net income as reported $ 2,660 $ 1,829 $ 2,143 $ 3,169 Non-GAAP adjustments Expenses recorded for share-based compensation Cost of revenues 197 59 85 20 Research and development 209 43 85 29 Selling and marketing 338 122 174 41 General and administrative 882 289 307 159 Acquisition related expenses Research and development 188 -- 62 -- General and administrative 550 -- -- -- Intangible assets amortization Cost of revenues 169 94 56 32 Compensation in relation to the IPO Separation payment to shareholder 750 -- -- -- IPO bonuses to employees 270 -- -- -- Total adjustments 3,553 607 769 281 Non-GAAP net income $ 6,213 $ 2,436 $ 2,912 $ 3,450 Non- GAAP diluted net income per share $ 0.25 $ 0.23 $ 0.09 $ 0.31 Weighted average number of shares used in computing diluted net income per share 25,111,776 10,431,433 32,096,739 11,125,629 KORNIT DIGITAL LTD. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands) September 30, December 31, 2015 2014 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 37,377 $ 4,993 Short term bank deposits 11,000 -- Available for sale marketable securities 3,543 -- Trade receivables, net 17,319 9,770 Other accounts receivables and prepaid expenses 3,473 1,775 Inventory 14,729 11,986 Total current assets 87,441 28,524 LONG-TERM ASSETS: Available for sale long-term marketable securities 22,305 -- Severance pay fund 1,121 1,187 Property and equipment, net 4,097 3,660 Intangible assets, net 1,079 245 Deferred issuance costs -- 849 Other assets 292 249 Total long-term assets 28,894 6,190 Total assets $ 116,335 $ 34,714 LIABILITIES AND EQUITY CURRENT LIABILITIES: Trade payables $ 9,028 $ 5,901 Employees and payroll accruals 4,442 2,968 Deferred revenues and advances from customers 552 1,863 Other payables and accrued expenses 3,116 2,606 Total current liabilities 17,138 13,338 LONG-TERM LIABILITIES: Accrued severance pay 1,829 1,903 Deferred taxes 153 122 Total long-term liabilities 1,982 2,025 SHAREHOLDERS' EQUITY 97,215 19,351 Total liabilities and shareholders' equity $ 116,335 $ 34,714 KORNIT DIGITAL LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. dollars in thousands) Nine Months Ended Three Months Ended September 30, September 30, 2015 2014 2015 2014 (Unaudited) (Unaudited) Cash flows from operating activities: Net income $ 2,660 $ 1,829 $ 2,143 $ 3,169 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Depreciation and amortization 1,279 1,004 613 360 Share-based compensation 1,626 513 651 249 Increase in accrued interest and amortization of premium on marketable securities (43) -- (43) -- Increase (decrease) in accrued severance pay, net (8) 289 (50) 68 Decrease (increase) in trade receivables (7,726) (1,541) (6,235) 57 Decrease (increase) in other receivables and prepaid expenses (1,556) 55 (304) 645 Increase in inventories (3,361) (1,961) (1,802) (426) Changes in deferred taxes, net (76) -- (18) -- Increase (decrease) in other long term assets (49) 4 51 11 Increase (decrease) in trade payables 3,101 (2,029) (23) (1,606) Increase in employees and payroll accruals 1,486 302 799 26 Increase (decrease) in deferred revenues (1,281) 374 (1,006) (2,796) Increase (decrease) in other payables and accrued expenses 729 (720) 391 266 Interest on short-term bank deposit (30) (1) (30) (1) Gain from sale of property and equipments -- (5) -- -- Foreign currency translation loss on inter company balances with foreign subsidiaries 409 174 6 124 Net cash (used in) provided by operating activities (2,840) (1,713) (4,857) 146 Cash flows from investing activities: Purchase of property and equipment (1,052) (1,407) (279) (515) Cash paid in connection with acquisition (1,000) -- -- -- Proceeds from (investment in) bank deposits, net (11,000) 2,094 (11,000) 1,076 Proceeds from redemption or sale of marketable securities 1,500 -- 1,500 -- Proceeds from sale of property and equipment 8 6 8 -- Purchase of marketable securities (27,428) -- (27,428) -- Net cash provided by (used in) investing activities (38,972) 693 (37,199) 561 Cash flows from financing activities: Payment of issuance costs -- -- -- -- Proceeds from initial public offering, net (Payment of issuance costs) 74,180 (6) (1,052) (6) Exercise of employee stock options 60 6 60 -- Net cash provided by (used in) financing activities 74,240 -- (992) (6) Foreign currency translation adjustments on cash and cash equivalents (44) (36) 1 (31) Increase (decrease) in cash and cash equivalents 32,428 (1,020) (43,048) 701 Cash and cash equivalents at the beginning of the period 4,993 5,329 80,424 3,603 Cash and cash equivalents at the end of the period 37,377 4,273 37,377 4,273 (a)
Non-cash investing activities:Non-cash investing activities: Purchase of property and equipment on credit 145 52 145 52 Non-cash issuance expenses -- 56 -- 56 Inventory transferred to be used as property and equipment 592 69 306 69 Property and equipment transferred to be used as inventory 106 -- -- -- CONTACT: Investor Contact: Michael Callahan, ICR (203) 682-8311 Michael.Callahan@icrinc.com
