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Business Wire
19-05-2025
- Business
- Business Wire
ClearOne, Inc. Reports First Quarter 2025 Financial Results
SALT LAKE CITY--(BUSINESS WIRE)--ClearOne (NASDAQ: CLRO), a global provider of audio and visual communication solutions, reported financial results for the three-month period ended March 31, 2025. In Q1 2025, ClearOne introduced five new products demonstrating continued commitment to meeting customer needs through innovation. One of those new products, the BMA 360DX, won a Best of Show award at the Integrated Systems Europe 2025 Exhibition in Barcelona, Spain. Revenue decreased 36% year over year, primarily due to a significant decrease in revenues from the audio conferencing category, which includes our DSP products. 'We believe this year over year revenue decline was primarily due to the cumulative impact of past production shortages,' said Derek Graham, CEO of ClearOne. Over the previous two quarters, Q3 2024 and Q4 2024, ClearOne generated sequential increases in revenue compared to Q2 2024. However, in Q1 2025, we were unable to maintain an uninterrupted flow of inventory from our contract manufacturers and suppliers due to insufficient cash on hand. This issue negatively affected new products that we introduced in Q1 2025 as well as older products with consistent demand. In February, 2025, we secured a $1 million investment from Edward Bagley, which allowed us to restart some product inventory purchases. Our work through early 2025 has focused on mitigating the impacts of production shortages through maintaining consistent dialogues, product demonstrations, and feedback cycles with end users and channel partners, along with improving our visibility at key industry events. In addition, we have maintained our investments in marketing to ensure the visibility of our products to end users looking for ways to improve the quality of audio and video for their meetings. On March 27, 2025, ClearOne entered into an agreement with RBW Capital Partners LLC and Dawson James Securities, Inc. to assist the Company with capital raising efforts and the sale of the Company by way of a negotiated merger or consolidation, including a reverse merger, the negotiated sale of all or substantially all of the Company's assets, the sale, via negotiated tender offer, of the Company's issued and outstanding shares of stock, or a spin-off of the Company's current business and operations to its current stockholders. Operational Highlights The Company decreased sales and research and product development expenses by 15% and 23%, respectively, year-over-year. On January 16, 2025, we launched the BMA 360DX ceiling tile beamforming microphone array with an integrated DSP processor that provides everything needed to combine, route, and process all the audio signals with no compromises. The BMA 360DX won a Best of Show award in the AV Technology category at the Integrated Systems Europe 2025 exhibition in Barcelona, Spain. On January 20, 2025, we announced the launch of the Versa® 120D USB-C Docking Station with Dante®, designed to simplify and enhance hybrid meeting experiences. The Versa 120D is a versatile collaboration solution combining a USB-C docking station and Dante audio networking into a single, easy-to-use device. On January 22, 2025, we introduced the DIALOG® AERO, a wideband UHF 2-channel encrypted digital wireless microphone solution with over 100 MHz of RF tuning range. The DIALOG® AERO features an intuitive interface with a large, easy-to-read LCD display that provides real-time information on critical settings. On January 24, 2025, we introduced the UNITE 260N Pro, a professional 4K Ultra HD camera with NDI®|HX, designed to meet the requirements of NDI® workflows. On January 27, 2025, we announced the addition of a 4-channel Access Point and a 4-bay Dock to our award-winning DIALOG® UVHF Wireless Microphone System. Financial Summary The Company uses certain non-GAAP financial measures and reconciles those to GAAP measures in the attached tables. Q1 2025 revenue was $2.3 million, compared to $3.6 million in Q1 2024 and $3.0 million in Q4 2024. We believe the revenue decrease year over year was mainly due to sustained inventory sourcing and order fulfillment challenges for the Company's core audio conferencing and beam forming microphone arrays as a result of delays in product releases due to cash flow constraints. The 21.8% sequential decrease was driven by decreased demand across all product categories. due to the same delays in product releases from cash flow constraints. GAAP gross profit/loss in Q1 2025 was $0.1 million, compared to $1.2 million in Q1 2024 and $0.9 million in Q4 2024. GAAP gross profit margin was 5% in Q1 2025, compared to 32% in Q1 2024 and 30% in Q4 2024. The reduction in gross margin is the result of revenue decreasing by a higher percentage than cost of goods sold. The Company experienced a significant reduction in inventory levels, with a decrease of approximately $1.4 million compared to December 31, 2024. This reduction was primarily driven by supply chain pauses from our cash flow constraints. As a result, there was insufficient new inventory to absorb the Company's standard overhead allocation, which is typically applied to inventory production. This led to unabsorbed overhead costs being recognized as an expense in the period, directly impacting cost of goods sold. The increase in unabsorbed overhead reflects the temporary misalignment between production levels and fixed overhead costs, which are generally allocated to inventory under our standard costing methodology. Management is actively evaluating strategies to optimize inventory levels and production schedules to mitigate similar impacts in future periods. Operating expenses in Q1 2025 improved to $3.0 million, compared to $3.2 million in Q1 2024 and $2.9 million in Q4 2024. Non-GAAP operating expenses in Q1 2025 improved to $2.9 million compared to $3.1 million in Q1 2024 and $2.8 million in Q4 2024. The sequential and year-over-year decrease in non-GAAP operating expenses was mainly due to the continued benefits of the cost-cutting measures initiated in 2022. GAAP net loss in Q1 2025 was $(2.8) million, or $(0.11) per share, compared to a net loss of $(1.9) million, or $(0.08) per share, in Q1 2024 and a net loss of $(2.2) million, or $(0.09) per share, in Q4 2024. The year-over-year increase in net loss was primarily due to the aforementioned decreases in revenue and gross profit. Non-GAAP net loss in Q1 2025 was $(2.8) million, or $(0.11) per share, compared to a Non-GAAP net loss of $(1.8) million, or $(0.07) per share, in Q1 2024 and a Non-GAAP net loss of $(2.1) million, or $(0.09) per share, in Q4 2024. The year-over-year increase in Non-GAAP net loss was driven by the aforementioned decreases in revenue and gross profit. Expand ($ in 000, except per share) Three months ended March 31, 2025 2024 Change in % Favorable/(Adverse) GAAP Revenue $ 2,313 $ 3,622 (36) Gross profit 121 1,151 (89) Operating expenses 2,967 3,229 8 Operating loss (2,846) (2,078 ) (37) Net loss (2,834) (1,898 ) (49) Diluted loss per share (0.11) (0.08 ) (50) Non-GAAP Non-GAAP operating expenses $ 2,893 $ 3,095 7 Non-GAAP operating loss (2,772) (1,942 ) (43) Non-GAAP net loss (2,760) (1,762 ) (57) Non-GAAP Adjusted EBITDA (2,686) (1,764 ) (52) Non-GAAP diluted loss per share (0.11) (0.07 ) (57) Expand Balance Sheet Highlights As of March 31, 2025, cash, cash equivalents and investments were $1.0 million, as compared with $1.4 million as of December 31, 2024. About ClearOne ClearOne is a global company that designs, develops, and sells conferencing, collaboration, and network streaming solutions for voice and visual communications. The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at Non-GAAP Financial Measures To supplement our consolidated financial statements presented on a GAAP basis, ClearOne uses non-GAAP measures of gross profit, operating income (loss), net income (loss), adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and net income (loss) per share, which are adjusted to exclude certain costs, expenses, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance from period to period and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of ClearOne's underlying operational results and trends and our marketplace performance. The non-GAAP results are an indication of our baseline performance before certain gains, losses, or other charges that are considered by management to be outside of our core operating results. In addition, these adjusted non-GAAP results are among the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for gross profit, operating income (loss), net income (loss), income (loss) per share or other financial measures prepared in accordance with GAAP. There are limitations to the use of non-GAAP financial measures. Other companies, including companies in ClearOne's industry, may calculate non-GAAP financial measures differently than ClearOne does, limiting the usefulness of those measures for comparative purposes. A detailed reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures is included in this release below. Forward Looking Statements This release contains 'forward-looking' statements that are based on present circumstances and on ClearOne's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements and any statements of the plans and objectives of management for future operations and forecasts of future growth and value are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release and ClearOne assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. The information in this press release should be read in conjunction with and is modified in its entirety by, the Quarterly Report on Form 10-Q (the '10-Q') filed by the Company for the same period with the Securities and Exchange Commission (the 'SEC') and all the Company's other public filings with the SEC (the 'Public Filings'). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, including the footnotes thereto, as well as the Company's annual report on Form 10-K for the year ended December 31, 2024 (the '10-K'), the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q, the 10-K, and the Public Filings. CLEARONE, INC. COMPREHENSIVE LOSS (Dollars in thousands, except per share amounts) CLEARONE, INC. UNAUDITED RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES (Dollars in thousands, except per share values) Three months ended March 31, 2025 2024 GAAP operating loss $ (2,846) $ (2,078 ) Stock-based compensation 23 26 Amortization of intangibles 51 110 Non-GAAP operating loss $ (2,772) $ (1,942 ) GAAP net loss $ (2,834) $ (1,898 ) Stock-based compensation 23 26 Amortization of intangibles 51 110 Other income adjustment — — Non-GAAP net loss $ (2,760) $ (1,762 ) GAAP net loss $ (2,834) $ (1,898 ) Number of shares used in computing GAAP diluted loss per share 24,748,551 23,969,148 GAAP diluted loss per share $ (0.11) $ (0.08 ) Non-GAAP net loss $ (2,760) $ (1,762 ) Number of shares used in computing Non-GAAP diluted loss per share 24,748,551 23,969,148 Non-GAAP diluted loss per share $ (0.11) $ (0.07 ) GAAP net loss $ (2,834) $ (1,898 ) Stock-based compensation 23 26 Interest expense — — Depreciation 74 — Amortization of intangibles 51 110 Other income adjustment — — Provision (benefit) for income taxes — (2 ) Non-GAAP Adjusted EBITDA $ (2,686) $ (1,764 ) Expand
Yahoo
19-05-2025
- Business
- Yahoo
Penny Finance Wins "Best of Show" at FinovateSpring 2025
The only personal finance company recognized this year, Penny highlights the power of scalable financial literacy technology for banks, credit unions, and their members. SAN DIEGO, Calif., May 19, 2025--(BUSINESS WIRE)--Penny Finance, the first personalized financial planning platform designed specifically for everyday Americans, has been named a Best of Show at FinovateSpring 2025, standing out as the only personal finance company among the honorees. In a fintech landscape dominated by AI and automation, Penny's win is a powerful reminder that true wealth technology demands more than just algorithms. Penny combines data, personalization, and financial literacy to deliver a radically human, scalable experience that empowers both financial institutions and the communities they serve. "Penny is proving that you can build a company for social good," said Crissi Cole, founder and CEO of Penny Finance. "We're giving real people the tools and confidence to take control of their money—and helping banks and credit unions deepen trust with the members they serve." Founded by Cole, a Wall Street alum, Penny was built to address the wealth gap and did so by solving for the lack of relevant, personalized financial guidance for pre-wealth and underserved consumers. In a crowded fintech, wealthtech, and edtech landscape, Penny took a bold stance from day one—financial advice shouldn't just be for the wealthy. It should be accessible, personal, and actionable. What's Next Penny is on track to reach 500,000 members in all 50 states with its enterprise financial planning and engagement technology. Through Main Street financial institutions, Penny is democratizing access to guidance and resources once reserved for the few—redefining how Americans view their local community banks. If you're a credit union, community bank or regional institution looking to outmaneuver the big banks and deliver more value to your members, Penny is your partner. To learn more or schedule a demo, visit View source version on Contacts crissi@ 347-417-3600
Yahoo
06-05-2025
- Entertainment
- Yahoo
ArtBreak Got Talent Show recap
SHREVEPORT, La. (KTAL/KMSS)—Caddo Parish Schools showcased its best young performers during an exciting show Saturday night at the ArtBreak Got Talent Show. More than 14 finalists qualified from area schools. The students left their nerves backstage and brought vocal power and confidence to the stage. KTAL/KMSS sponsors the 2025 ArtBreak Got Talent Show. The hosts for the night were Fox 33 Anchor Alexandra Meachum and reporter Myriam Samake. The performances wowed the audience. Chai Gray-Garrison, an 8th grader from Evangel Christian Academy, won Best of Show for her performance of 'Feeling Good' by Nina Simone. Chiaralou Garrett, a second grader from South Highlands Elementary, won the People's Choice award for her rendition of 'Naughty' from Matilda the Musical. More Local News Violet Ogea, a 5th grader from A.C. Steere Elementary, won the Elementary Division for singing 'Rise Up' by Andra Day. Tessa Atkins, a 6th grader from Caddo Middle Magnet, won the Middle School Division for her dance to 'Cradles' by Sub Urban. Ishmael Swiney, an 11th grader from Captain Shreve High School, won the High School Division for singing 'The Beautiful Ones' by Prince. Each winner took home cash prizes. Miss Gray-Garrison won an expense-paid trip for a family of four to a front-of-the-line 'America's Got Talent' audition on behalf of NBC 6 and Fox 33's General Manager Mark McKay. He said all the students were winners for their exceptional talents and congratulated them all. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to
Yahoo
01-05-2025
- Automotive
- Yahoo
These Classic Beauties at the La Jolla Concours Blew Us Away
The 19th running of the La Jolla Concours, perched atop a rocky cliff in beautiful La Jolla, California, showed that sun, sea, and spectacle make the best concours. And great cars, too. "The organizers, along with the new owners, really know how to put together a great event," said co-emcee Ed Justice Jr. "There's really something there for all ages and all interests." "Not to take away from Pebble Beach, but it's held on one of the most spectacular pieces of real estate on the West Coast," said the other co-emcee, ABC7's Dave Kunz. Click on to see our favorites from the 122 cars entered. From the Petersen Automotive from the Petersen and Kimberly Word's car won Best of and Kimberly Word's car won Best of Show.
Associated Press
12-04-2025
- Business
- Associated Press
MLADU Wins Prestigious 'Best of Show' at the 2025 Bio-IT World Conference
MLADU wins Best of Show at the 2025 Bio-IT World Conference, recognized for its secure, large-scale data transfer and dedicated concierge-level support. Washington, DC , United States, April 12, 2025 -- MLADU is pleased to announce its recognition as 'Best of Show' at the 2025 Bio-IT World Conference, one of the most respected events in biotechnology, pharmaceuticals, healthcare, and life sciences. This honor marks MLADU's first appearance at the conference and acknowledges the product's immediate impact in the realm of high-volume data transfer and management. Held annually, the Bio-IT World Conference draws a diverse group of global attendees seeking innovative solutions designed to advance research, technology, and patient care. MLADU's success reflects a growing emphasis on efficient, secure, and streamlined data management across scientific fields, highlighting the company's ability to address critical challenges faced by modern research institutions. Receiving 'Best of Show' signals a strong endorsement of MLADU's efforts to help researchers and scientists concentrate on breakthroughs in their work, rather than the complexities of data transfers. MLADU offers a comprehensive service that alleviates the need for organizations to manage specialized software or worry about continuous upgrades and security features. Built for large-scale transfers ranging from one terabyte to hundreds of terabytes, the platform stands out by pairing cloud-based technology with concierge-level support, a feature that many solutions in the industry do not provide. This means that clients can work alongside experienced data transfer specialists who ensure secure file handling and operational reliability, empowering users to achieve robust results without sacrificing valuable time or resources. 'We are honored by the recognition from the Bio-IT World community, which reinforces our commitment to driving innovation in data management,' says Gary Nacht, VP of Client Engagement. 'We are dedicated to simplifying the data transfer process and enabling scientists to focus on what truly matters: advancing research and improving patient outcomes. Our team remains enthusiastic about building on this milestone and continuing to offer the support researchers need to move large amounts of data with ease.' In addition to its technical merits, MLADU's pricing structure resonates with organizations requiring transparency and predictability. Unlike some industry players that do not publicly list fees, MLADU features a clear pricing calculator so institutions can better plan budgets and usage. By placing affordability and practicality at the forefront, MLADU ensures that labs, academic institutions, and commercial ventures alike can deploy the service without overextending their financial resources. The product's success underlines the increasing demand for reliable and cost-effective data management solutions, and the company expects the momentum from this win to drive further product enhancements in the coming months. For more information about MLADU, visit About MLADU MLADU is a cloud-based data transfer platform designed to meet the large-scale needs of researchers, scientists, and organizations in biotechnology, pharmaceuticals, healthcare, and life sciences. By combining cutting-edge technology with concierge-level data handling services, MLADU streamlines complex and secure data transfers at transparent, cost-effective rates. Contact Info: Name: Gary Nacht Email: Send Email Organization: MLADU Phone: 877-77MLADU Website: Release ID: 89157440 In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
