Latest news with #M400
Muscat Daily
2 days ago
- Business
- Muscat Daily
Inaugural Ibn Firnas Summit on drone technology held in Muscat
Muscat – Chinese drone manufacturer DJI's Matrice 400 (M400) was launched in Oman on Monday during the inaugural Ibn Firnas Summit in Muscat. Organised by Ibn Firnas Drone Center in partnership with Ministry of Housing and Urban Planning, the summit was held under the patronage of Hamad bin Ali al Nazwani, Undersecretary for Housing. It highlighted recent advances in drone technology and application of these in urban planning, infrastructure and smart city development. A live demonstration showcased the M400's capabilities in aerial surveying, 3D mapping and use across sectors such as utilities, energy, telecommunications, agriculture and security. Mohammed bin Abdullah al Harthy, CEO of Ibn Firnas Drone Center which is the exclusive DJI dealer in Oman, described the summit was a turning point in creating a national framework for drone technology. 'Our role extends beyond supplying drones. Through Firnas Academy, Firnas Innovation Lab and our technical support facility – the first of its kind in Oman – we are developing skills, solutions and expertise for the drone sector,' he said. Technical sessions addressed practical uses of drones in water, electricity and telecommunications. Officials from Ministry of Housing and Urban Planning, Nama Group and Omantel shared examples of how drones can improve efficiency, cut costs and speed up projects in support of smart city initiatives. A panel discussion featuring Ibn Firnas Drone Center, DJI and the Civil Aviation Authority officials examined future regulations and the role of drones in national development. Ferdinand Ma, Regional Partnerships Manager for Middle East and North Africa at DJI, said Oman's decision to launch the M400 reflects growing confidence in the drones market. 'Our partnership with Ibn Firnas Drone Center allows us to deliver integrated solutions and reinforces Oman's position as a regional hub for this industry.' Since its establishment, Ibn Firnas Drone Center has completed more than 200 projects covering sales, training, maintenance, industrial applications and anti-drone technologies, supplied over 1,000 drones and logged more than 7,000 flight hours. The Ibn Firnas Summit is expected to be held annually, serving as a platform for collaborations and knowledge exchange in line with Oman Vision 2040 objectives.
Observer
2 days ago
- Business
- Observer
Oman hosts first Middle East launch of DJI Matrice 400 drone
Oman hosted the first-ever launch in the Middle East of the DJI Matrice 400 (M400) drone, during the inaugural edition of the Firnas Summit. The event was organized by the Ibn Firnas Drone Center at the St. Regis Al Mouj Hotel in Muscat, under the patronage of Eng. Hamad bin Ali Al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, with the participation of leading experts and decision-makers from government, private, and military sectors. The summit aims to strengthen Oman's position as a regional hub for drone technology and industry, opening new opportunities for the national economy in the knowledge economy, digital transformation, smart cities, and artificial intelligence. It also serves as an annual platform to showcase the latest innovations and exchange expertise between national institutions and international companies, in line with Oman Vision 2040. First Launch of the DJI Matrice 400 in the Region The summit featured the first Middle East unveiling of DJI's Matrice 400, produced by global UAV leader DJI, which controls more than 80% of the global market. The event included a live demonstration of the drone's capabilities in aerial surveying, 3D mapping, urban planning, utilities, energy, telecommunications, agriculture, and security, highlighting its role in improving efficiency, cutting costs, and speeding up project delivery. Mohammed Al Harthi, CEO of the Ibn Firnas Drone Center, stressed that the summit marks a turning point in building an integrated national ecosystem for drones that goes beyond equipment supply to include training, development, and innovation. He noted that the center has executed more than 200 projects within Oman, delivered over 1,000 drones to civilian and military sectors, and contributed to housing sector development through land surveys. He also emphasized their growing role in security, particularly in effective border surveillance compared to traditional methods. He added that this year's Firnas Summit focuses on key issues in housing, electricity, water, and security. Ferdinand Ma, Regional Partnerships Manager of DJI for the Middle East and North Africa, said choosing Oman for the Matrice 400's regional launch reflects DJI's strong confidence in the Omani market. He confirmed that the partnership with the Ibn Firnas Center will boost Oman's position as a regional hub for drone technology. He added that this model is currently the leading drone in its category, capable of carrying payloads of over six kilograms, performing multiple tasks simultaneously, and offering unprecedented stability and flight time. Eng. Salem Al Kindi, Director of the Survey Department at the Ministry of Housing and Urban Planning, affirmed that the ministry has always been a pioneer in adopting modern equipment for urban planning. Recently, drones were introduced for map production, including 3D maps. He explained that this technology has revolutionized planning, eliminating the need for traditional survey cranes that required significant time and effort, as drones now enable planners and engineers to produce highly accurate maps with remarkable speed. He highlighted a practical example: a project carried out by the ministry in the villages of Jabal Shams, Wilayat Al-Hamra, which took only two days using drones, compared to two months or more using traditional methods. Discussions and Future Plans The summit's agenda included technical papers and case studies on the role of drones in water, wastewater, electricity, telecommunications, and urban planning sectors, with contributions from key entities such as the Ministry of Housing and Urban Planning, Nama Group, and Omantel. The event concluded with a panel discussion featuring the CEO of the Ibn Firnas Drone Center, representatives from DJI, and the Civil Aviation Authority, where they exchanged insights on the future of the drone industry, regulatory mechanisms, and development strategies.
Observer
2 days ago
- Business
- Observer
Oman hosts first Middle East launch of DJI nMatrice 400 drone
Oman hosted the first-ever launch in the Middle East of the DJI Matrice 400 (M400) drone, during the inaugural edition of the Firnas Summit. The event was organized by the Ibn Firnas Drone Center at the St. Regis Al Mouj Hotel in Muscat, under the patronage of Eng. Hamad bin Ali Al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, with the participation of leading experts and decision-makers from government, private, and military sectors. The summit aims to strengthen Oman's position as a regional hub for drone technology and industry, opening new opportunities for the national economy in the knowledge economy, digital transformation, smart cities, and artificial intelligence. It also serves as an annual platform to showcase the latest innovations and exchange expertise between national institutions and international companies, in line with Oman Vision 2040. First Launch of the DJI Matrice 400 in the Region The summit featured the first Middle East unveiling of DJI's Matrice 400, produced by global UAV leader DJI, which controls more than 80% of the global market. The event included a live demonstration of the drone's capabilities in aerial surveying, 3D mapping, urban planning, utilities, energy, telecommunications, agriculture, and security, highlighting its role in improving efficiency, cutting costs, and speeding up project delivery. Mohammed Al Harthi, CEO of the Ibn Firnas Drone Center, stressed that the summit marks a turning point in building an integrated national ecosystem for drones that goes beyond equipment supply to include training, development, and innovation. He noted that the center has executed more than 200 projects within Oman, delivered over 1,000 drones to civilian and military sectors, and contributed to housing sector development through land surveys. He also emphasized their growing role in security, particularly in effective border surveillance compared to traditional methods. He added that this year's Firnas Summit focuses on key issues in housing, electricity, water, and security. Ferdinand Ma, Regional Partnerships Manager of DJI for the Middle East and North Africa, said choosing Oman for the Matrice 400's regional launch reflects DJI's strong confidence in the Omani market. He confirmed that the partnership with the Ibn Firnas Center will boost Oman's position as a regional hub for drone technology. He added that this model is currently the leading drone in its category, capable of carrying payloads of over six kilograms, performing multiple tasks simultaneously, and offering unprecedented stability and flight time. Eng. Salem Al Kindi, Director of the Survey Department at the Ministry of Housing and Urban Planning, affirmed that the ministry has always been a pioneer in adopting modern equipment for urban planning. Recently, drones were introduced for map production, including 3D maps. He explained that this technology has revolutionized planning, eliminating the need for traditional survey cranes that required significant time and effort, as drones now enable planners and engineers to produce highly accurate maps with remarkable speed. He highlighted a practical example: a project carried out by the ministry in the villages of Jabal Shams, Wilayat Al-Hamra, which took only two days using drones, compared to two months or more using traditional methods. Discussions and Future Plans The summit's agenda included technical papers and case studies on the role of drones in water, wastewater, electricity, telecommunications, and urban planning sectors, with contributions from key entities such as the Ministry of Housing and Urban Planning, Nama Group, and Omantel. The event concluded with a panel discussion featuring the CEO of the Ibn Firnas Drone Center, representatives from DJI, and the Civil Aviation Authority, where they exchanged insights on the future of the drone industry, regulatory mechanisms, and development strategies.
Cision Canada
6 days ago
- Business
- Cision Canada
Vuzix Reports Second Quarter 2025 Results
ROCHESTER, N.Y., /CNW/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its second quarter results for the three months ended June 30, 2025. "During the second quarter of 2025, Vuzix met all the manufacturing and performance gates tied to receipt of the second Quanta tranche and received that $5 million, bringing Quanta's investment thus far to $15 million out of a planned $20 million," said Paul Travers, President and CEO of Vuzix. "Our OEM business reached an important milestone by shipping waveguides in volume to our first tier-1 OEM waveguide customer while continuing to formally engage with multiple new tier-1 OEM waveguide customers spanning enterprise to the broad market." "We also finalized and introduced the LX1 enterprise smart glasses, with initial customer sampling underway with a production rollout scheduled before year end. Offering integrated voice and vision assisted workflows, the LX1 is our first purpose-built smart glasses designed to meet the evolving demand of the warehousing and logistics industry and falls squarely on top of human-in-the-loop (HITL) automation or co-robotics, which is one of the largest and fastest-growing market segments for such augmentation. And finally, during the second quarter, we grew revenue by 19% year-over-year despite implementing continuing cost control measures which resulted in a 26% year-over-year decrease in our cash operating expense," Mr. Travers concluded. The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended June 30, 2025 and 2024, respectively: For Three Months Ended June 30 ($000s except per share amounts) 2025 2024 Sales: Sales of Products $1,045 $ 601 Sales of Engineering Services 250 491 Total Sales 1,296 1,093 Total Cost of Sales 2,057 1,426 Gross Profit (Loss) (761) (333) Operating Expenses: Research and Development 2,571 2,359 Selling and Marketing 1,353 2,238 General and Administrative 2,757 4,492 Depreciation and Amortization 413 1,188 Impairment of Licenses, Patents &Trademarks - 30,120 Loss from Operations (7,855) (40,730) Total Other Income (Expense) 189 118 Net Loss (7,666) (40,612) Loss per Common Share $ (0.10) $ (0.62) Second Quarter 2025 Financial Results For the three months ended June 30, 2025, total revenues increased by 19% to $1.3 million versus $1.1 million for the comparable period in 2024. The increase in total revenues was due to higher product sales and specifically increased unit sales of M400 smart glasses as compared to the prior year's period. Engineering services revenues were $0.3 million for the three months ended June 30, 2025 as compared to $0.5 million in the prior year's quarter. There was an overall gross loss of $0.8 million for the three months ended June 30, 2025 as compared to a gross loss of $0.3 million for the same period in 2024. The larger gross loss was the result of further reserves for inventory obsolescence and increased unapplied manufacturing overhead costs. Research and Development expense was $2.6 million for the three months ended June 30, 2025, versus $2.4 million for the comparable 2024 period, an increase of approximately 9%. This increase was largely due to a $0.3 million increase in external development costs for new products. Selling and Marketing expense was $1.4 million for the three months ended June 30, 2025, versus $2.2 million for the comparable 2024 period, a decrease of approximately 40%. This decrease was primarily due to a $0.5 million decline in salary and benefits related expenses driven by headcount decreases and a $0.3 million decrease in bad debt expense. General and Administrative expense for the three months ended June 30, 2025 was $2.8 million versus $4.5 million for the comparable 2024 period, a decrease of approximately 39%. This overall decrease was largely due to a $2.0 million decline in non-cash stock-based compensation expense related to the Company's 2024 cash salary reduction program in exchange for equity, which ended on April 30, 2025. The net loss for the three months ended June 30, 2025 was $7.7 million, or $0.10 per share versus a net loss of $40.6 million, or $0.62 per share for the comparable period in 2024. Net cash flows used in operating activities was $4.7M for the second quarter of 2025 versus $5.6M for the comparable 2024 period. As of June 30, 2025, the Company maintained cash and cash equivalents of $17.5 million and an overall positive working capital position of $20.3 million. Management Outlook "With a growing pipeline of ODM/OEM opportunities, new strategic partnerships, and increasing demand for AI-enhanced wearable solutions, we believe the market is gaining momentum — and that Vuzix is uniquely positioned to capitalize as AI and AR technologies converge to transform how we work, communicate, and interact with digital information," said Mr. Travers. "We ended June 2025 with the capital resources needed to execute upon our current operating plan," continued Mr. Travers. "Having recently met all manufacturing and performance milestones tied to the third Quanta tranche, we anticipate receiving the final $5 million investment as provided for under the stock purchase agreement. Looking ahead, we are confident in securing additional design wins for new ODM/OEM products targeting both consumer and enterprise AI smart glasses markets. We believe these wins can evolve into long-term recurring revenue streams, whether through supplying optical waveguides and display engines or creating co-branded AI smart glasses. In the defense sector, our goal is to expand our work with both existing and new prime contractors, leading to additional custom design-ins and accelerating scaled production orders." "On the enterprise side, we are seeing growing customer engagements and measurable successes, supported by substantial usage data demonstrating significant productivity gains. These results are being driven by leading enterprise ISV applications as well as our own Vuzix Solutions platform, formerly called Moviynt®, which is helping to redefine warehouse and field operations with AR-powered efficiency. We remain confident that anticipated follow-on orders for smart glasses this year will further reduce existing inventory levels and lead to the conversion of finished goods into cash, paving the way for a smooth rollout of our next-generation LX1 product for warehousing and logistics which will begin shipping to end customers and ISVs before the end of the year," concluded Mr. Travers. Conference Call Information A live and archived webcast of the conference call will be available on the investor relations page of the Company's website at: or directly at Participating on the call will be Vuzix' Chief Executive Officer and President Paul Travers and Chief Financial Officer Grant Russell, who together will discuss operational and financial highlights for the quarter ended June 30, 2025. To join the live conference call, please dial into the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time. A telephonic replay will be available for 30 days, starting on August 14, 2025, at approximately 5:30 p.m. (ET). To access this replay, please dial 877-660-6853 within the U.S. or Canada, or 201-612-7415 for international callers. The conference replay ID# is 13755160. About Vuzix Corporation Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 450 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages. Forward-Looking Statements Disclaimer Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to, among other things, the timing of new product releases, opportunities related to market disruptions regarding smart glasses demand, R&D project successes, smart glasses pilot to roll-out conversion rates, existing and new engineering services and conversion to volume production OEM programs, future revenue and operating results, the amount and impact of operating expense cash reductions, and the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the Company's Annual Reports and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at or Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Investor Relations Contact Ed McGregor, Director of Investor Relations Vuzix Corporation [email protected] Tel: (585) 359-5985
Miami Herald
28-05-2025
- Automotive
- Miami Herald
Get Ready to Drool: Our Favorite 5 Supercars from the Exclusive Super Sunday
If you're an automotive enthusiast in the Sacramento area, you've likely heard about Super Sunday. This yearly private event hosted by the 9sixteenexotics group is exclusive to media and supercar owners, and yours truly happened to qualify. To say that Super Sunday brings out the best rides around would be an understatement, so I'm instead going to show you five of what I consider to be the finest examples at this year's showing from a field of over 150 cars, in no particular order. Buckle up and hold your jaw, trust me on this one. You might be familiar with the Noble M400 thanks to video games like Forza Horizon 5, but seeing one in person is the kind of event you won't soon forget. English automaker Noble only made 75 examples of the M400 from 2006 to 2007, making it as rare as it is damn sexy. Using Ford's 3.0 L DOHC Duratec V6 engine with special forged pistons, an oil cooler, a larger baffled oil sump, and extra cooling ducts, the M400 makes 425 hp with a top speed of 187 mph. The interior is as barebones as you can get, but hey, it still has AC, so your top speed runs can be done in style AND comfort. One of our local collectors, Bob (@1slocrx), blessed us with the presence of his Pagani Zonda F. Named after famed Formula One driver Juan Manuel Fangio, the Zonda F featured an even more powerful 7.3 L Mercedes-AMG M297 V12 engine which, thanks to enhanced intake manifolds, a new exhaust, and a revised ECU, made 594 hp and 561 lb⋅ft of torque through a stronger transmission and differential. Only 25 of these full carbon fiber beauties were ever produced, giving the already impressive Zonda an extra layer of *pizzazz*. Imagine if a classic air-cooled Porsche 911 were brought into the 21st century and carried a $2 million price tag: that's the Singer 911 DLS or "Dynamics and Lightweighting Study." Apart from a gorgeous brown leather and carbon fiber interior, this modern reimagining is finished in a stunning shade of green with a menacing widebody stance, revised lights and turn signals, and a 4.0L flat-six engine that revs to 9,000 rpm. Word around down is that with options and all, this particular example, owned by local collector Jeff Miller (@fjmiller), cost somewhere around $3 million. This thing is so glorious, it might get its own article in the near future! This is the first time I've seen a 12Cilindri in person outside of Monterey Car Week, and I was equally as stunned. Ferrari's latest 12-cylinder marvel sports 819 hp and 500 lb-ft of torque to go along with its svelte, low-slung silhouette. The long nose houses semi-disguised headlights within a black accent stripe, while the short rear deck showcases slim taillights and a rear window that extends into a similar black accent bar. The Maranello-based automaker is still knocking it out of the park with its new models, and we couldn't be more over the moon. The second iteration of the first-generation Dodge Viper, otherwise known as the Viper GTS, is probably the one you grew up with in Need for Speed. Its screaming 8-liter Viper V10 made 450 hp in GTS guise, complete with airbags for the first time in the model's history. This particular silver example was outstandingly clean and a welcome breath of fresh air among the modern supercars surrounding it. The Viper will forever keep its place as one of the most outrageous and outstanding American supercars, and if Dodge ever decides to revive it, the automotive world would likely implode. Huge shout-out to Brian and the rest of the team at 9sixteenexotics for putting on such an astounding showing every year. If you're involved in the automotive scene in any way, I encourage you to seek out these kinds of private shows in your area. You never know the marvels you'll see! Copyright 2025 The Arena Group, Inc. All Rights Reserved.
