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NASA, The US Navy And The US Army Are All Partners Of This Cutting-Edge Company – Laser Photonics Corporation (NASDAQ: LASE)

Benzinga

By Faith Ashmore, Benzinga Laser Photonics Corporation (NASDAQ: LASE) (“LPC”) is a leading global industrial developer of CleanTech laser systems for laser cleaning and other material applications. The company is best known for its specialization in integrated laser blasting solutions for corrosion control, rust removal, de-coating, pre- and post-welding, laser cleaning and surface conditioning which address the needs of a wide variety of industries. In order to maintain its position and drive growth, the company has implemented strategic plans that could position it at the forefront of technological advancements and trends in its industry. One key initiative is the enhancement of its AI and Internet of Things (IoT) capabilities. By integrating artificial intelligence and IoT technologies into its laser technology, LPC is able to offer cutting-edge solutions that improve the customer experience and aim to stay ahead of technological advancements. The company also offers on-site customer support and training with AI and IoT integration, further distinguishing itself from competitors. The global blasting market is projected to grow to $12 billion by 2025, and as more industries rely on laser technology, LPC may benefit from rising demand. The company has developed strategic partnerships with large distributors to expand its global sales network. By doing so, the company is ensuring that its innovative laser technology reaches a broader audience and remains accessible to industries globally. The success of its approach is evidenced by the fact that the company has worked with world-renowned companies and institutions like NASA, the U.S. Navy, the U.S. Army, Caterpillar Inc. (NYSE: CAT) and General Electric Co. (NYSE: GE), to name a few. LPC has also made it a priority to vertically integrate through key acquisitions. By acquiring or merging with suppliers or distributors, it reduces reliance on other businesses and exerts greater control over the quality, cost and availability of inputs or outputs. This enables LPC to optimize its supply chain operations and reduce costs associated with procurement, management, and distribution. Environmental stewardship is another LPC priority. The company is committed to delivering eco-friendly and sustainable solutions that help industries worldwide reduce their ecological footprint. LPC reports that its CleanTech technology uses no harmful chemicals or substances while achieving fast and accurate cleaning results, and its advanced productivity and safety features secure its reputation as a safer, more efficient option while ensuring operators are protected from the hazards of traditional systems. Companies that adhere to or exceed environmental regulatory requirements position themselves better in their markets as the world acts to combat climate change. In the long term, LPC is focused on expanding its Customer Experience Center (CEC) to provide a state-of-the-art facility for presenting and demonstrating its technology. The CEC showcases LPC’s capabilities to customers globally and facilitates customized solution collaborations on a global scale. The company continuously expands its product line with cutting-edge solutions such as MARLIN, DefenseTech and SaberTech demonstrating its commitment to meeting the evolving needs of industries across the globe. LPC’s robust research and development team is intensifying its efforts in developing Class I systems to maintain its competitive edge and meet the growing demand driven by increased regulations and restrictions. By maintaining a leading-edge presence in a range of industries, LPC seems to have earned its position as a trusted and safety-focused partner, offering state-of-the-art solutions that meet customer needs worldwide. Featured photo by SpaceX on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

February 16, 2024 08:25 AM Eastern Standard Time

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RapidClaims uses AI to help US healthcare providers address $250b in denied claims

RapidClaims

Healthcare organizations are turning to automation with “revenue cycle management” to protect operating margins and the increasing claim denials from the payors. Every year, close to $265B in claims made by US healthcare organizations are denied because of the way claims are coded on payor documentation and delayed submissions are two chief reasons for the denials. Coding errors account for over 40% of claim denials, while untimely submissions contribute to 35% of denials; eligibility and prior authorization being some of the other aspects playing a significant role. Addressing this pain point, RapidClaims has today emerged from stealth with a $3.1 million funding round to tackle the claims denial problem head-on with its medical coding automation module. The seed round was led by Together Fund, a $250 million global SaaS fund, with participation from Better Capital, Neon Fund, Peercheque, DeVC with angels and advisors coming from prominent US healthcare organizations including Oscar Benavidez (Executive Director, Mass General), Ankit Jain (Founder & CEO of Infinitus), and Sachin Jain (President & CEO of Scan Health) among others. RapidClaims is led by Dushyant Mishra (CEO), Jot Sarup Sahni (CPTO), and Abhinay Vyas (CDO), each bringing a nuanced understanding of healthcare, data science, and scaling tech products. The idea for RapidClaims originated in 2018 during Dushyant Mishra’s tenure at Abbott Healthcare when he observed the challenges faced by hospitals while interacting with multiple hospital owners and physicians. Since then, he has closely monitored the space, which gained significant momentum in 2022 as two key trends emerged: an increase in claim denial rates across the US and the effective demonstration of large language models (LLMs) as a solution to these challenges. RapidClaims recognizes the diverse challenges inherent in revenue cycle management. With a strategic focus on tackling medical coding initially, the company aims to simplify the rising complexity of coding processes and leverage the potential for AI to drive efficiencies over time. In recent years, coding complexity has surged significantly with diagnosis codes like ICD codes rising from 19,000 (ICD 9) to nearly 120,000 (ICD 11). Adherence to guidelines is becoming increasingly challenging due to rapid changes encompassing NCCI edits, NCD/LCD guidelines, Medicare policies, payor rule sets, among others. RapidClaims has achieved success with six pilots within two months of its beta product launch in June 2023 and is poised to enhance product robustness even further with an additional five pilots already in the pipeline. Dushyant Mishra, Founder & CEO of RapidClaims commented: "We are just beginning to witness tangible benefits in terms of cost savings, speed, and revenue enhancement through AI utilization. While automation is pivotal, we recognize the indispensable role of coders with their nuanced understanding of intricate rules and edge cases. This is the driving force behind our significant investment in the RapidAssist product, which has the transformative potential to elevate medical coding operations for coder-managing teams." AI holds immense potential for introducing exceptional efficiencies into this domain. Beyond identifying the right code, AI's current state allows for precise context interpretation, adding a layer of sophistication to the coding process. RapidClaims has unveiled three multi-specialty products aimed at alleviating coding administrative overload: RapidCode: Fully autonomous medical coding, streamlining the process with end-to-end automation. RapidAssist: A tailored tool for medical coders designed to improve productivity by auditing charts and identifying documentation gaps, which includes a query builder and rule-set engine. RapidRisk: Advanced AI for risk-adjusted coding that calculates HCC and RAF scores while pinpointing opportunities for documentation improvement based on a comprehensive rule set developed in collaboration with prominent CDI leaders. More healthcare organizations are recognizing the need for revenue cycle automation to overcome workforce challenges, handle increasing claim volumes, mitigate revenue losses, and navigate the complexities of healthcare administration. This urgency is further fueled by the rise in claim denials from payors, which puts significant pressure on healthcare providers and exacerbates the already high administrative costs. A recent study conducted by Bain & Company and KLAS reveals that 80% of U.S. healthcare providers are increasing their investment in IT and software, with a specific focus on prioritizing AI technologies. Revenue cycle transformation and automation are the top areas of focus for healthcare executives. Manav Garg, Co-founder of Together Fund added: "We are thrilled about the transformative potential of AI in optimizing administrative processes within the revenue cycle. We are confident that the RapidClaims team embodies the perfect blend of expertise, showcasing an in-depth understanding of the complexities within the U.S. healthcare system coupled with exceptional proficiency in artificial intelligence." About RapidClaims RapidClaims is automating medical coding to help health organizations reduce claim denials from payors. About Together Fund Together Fund is an enterprise software-focused, operator-led fund started by Girish Mathrubootham (Founder, Freshworks ), Manav Garg (Founder, Eka ) and Shubham Gupta (ex Matrix Partners). Together invests in Seed and Series A opportunities across AI, Devtools, Cloud Infra, Security, Horizontal & Vertical SaaS applications. With a “for-founders, by-founders” DNA, Together is joined by 150+ global founders & operators in this endeavor to help build global products. Contact Details RapidClaims Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.rapidclaims.ai/

February 16, 2024 06:00 AM Eastern Standard Time

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Cadence Unveils the World's First AI Powered Supercomputer for Design

YourUpdateTV

A video accompanying this announcement is available at: https://youtu.be/CHaqwqO0AD4 In an era where artificial intelligence is the driving force behind innovation, the AI powered supercomputer represents a leap forward ushering in a new era of intelligent computing that will help transform design in the automotive, aerospace and defense, energy and turbomachinery industries. Some of the present and future uses of the supercomputer include reducing the world’s carbon footprint, pursuing the goal of ‘flawless design’, faster/better/cheaper goods, and enabling F1 teams like McLaren Racing and Honda to build better, faster and more efficient vehicles. Cadence is at the forefront of these developments and conducted a nationwide media tour live from Levi Stadium, home of the San Francisco 49ers announcing the introduction of the Millennium M1 Platform. Cadence® Millennium™ M1 Enterprise Multiphysics Platform is the industry’s first computational fluid dynamics (CFD) supercomputing platform. This turnkey solution includes dedicated graphics processing unit (GPU) hardware, extremely fast interconnections and an enhanced AI-driven high-fidelity CFD software stack optimized for GPU acceleration. Millennium instances can be fused into a unified cluster, enabling simulation with thousands of nodes. This powerful combination enables customers to achieve an unprecedented same-day turnaround time and near-linear scalability when simulating complex mechanical systems in real-world operating conditions. During the media tour topics that were discussed included: · What the introduction of the 1st AI powered supercomputer for design means · How it is being used, including insights on its usage for McLaren Racing and the America’s Cup racing team · Benefits for the environment, both long term and immediate, including optimizing power use in datacenters, which are on course to account for 10% of the world’s carbon footprint in the next decade. For more information, visit CADENCE.COM Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

February 15, 2024 03:37 PM Eastern Standard Time

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SingularityNET Arrives In Switzerland Counseled By STORM Partners — Uniting Artificial Intelligence & Decentralization

STORM Partners

Geneva, Switzerland, February 9, 2024 – SingularityNET (SNET), a global innovator within the decentralized artificial intelligence (AI) space, has established its Foundation in Switzerland through Geneva to the Crypto Valley in Zug. This strategic move underscores the SNET commitment to the decentralized, democratic values seen within its AI initiatives, including within its governance structure. The Zug-based Foundation will support the development of new use cases for the ecosystem, expand its global community, and promote research and development projects. Commenting on the move, SingularityNET Founder and CEO Ben Goertzel remarks: “The Foundation is set to further enable the Web3 vision of creating a decentralized and democratic paradigm that meets the challenges of the modern world. The move to Zug underlines our commitment to do this with the utmost transparency and highest standards of compliance.” Working in conjunction with STORM Partners, a Swiss Web3-focused professional services firm, SingularityNET has relocated its foundation from Amsterdam, in the Netherlands, to Zug, in Switzerland. Choosing Switzerland as the market from which to drive global adoption of the technology, as well as its more philosophical and ethical underpinnings, is also a nod to Switzerland’s reputation: a neutral and benign confederation that has been practising democracy since as early as the thirteenth century. It’s no wonder it’s also a hub of decentralization, disintermediation, and trust. “This strategic move highlights once more Switzerland's attraction for innovation. Clear guidelines for the digital economy mean Web3 entrepreneurs can benefit from the stability they so desperately require when venturing into this ever-changing field,” adds Sheraz Ahmed, Managing Partner of STORM Partners. Switzerland’s crypto-friendly regulatory framework and secure business environment are key drivers behind SNET’s decision to establish its Foundation in Zug. This move allows SNET to leverage Switzerland’s thriving crypto community ecosystem, fostering an environment of innovation, collaboration, and growth for its beneficial and compassionate AI vision. Zug’s Crypto Valley is home to +1,600 blockchain-based projects, including industry leaders like Ethereum, Polkadot, Tezos, and many more. SNET’s unique take on AI and commitment to developing a decentralized platform for artificial general intelligence (AGI) will add a new richness to the Zug community. SingularityNET works with partners like Cisco, Cardano, and Hanson Robotics, famous for the human Sophia the Robot. SNET’s mission to redefine the future of AI by building an AGI transcends the limitations of centralization, and ensures openness for all, free from the narrow objectives of a single corporation or nation. Now this bold mission is matched with a state-of-the-art governance structure that provides for future growth in a decentralized environment. About SingularityNET: SingularityNET is a pioneering decentralized AI platform that combines the power of blockchain technology with artificial intelligence. It envisions creating an inclusive, democratic, and beneficial AGI free from centralization, corporate control, and national restrictions. SNET’s core mission is to democratize AI, ensuring this technology benefits all humanity. About STORM Partners STORM Partners is a premier all-in-one professional services provider within the dynamic blockchain industry. Its expertise spans the global landscape of Web3, collaborating with a diverse spectrum of businesses and brands – from nimble startups and pre-IDOs to flourishing scale-ups and established global organizations. Contact Details Storm Partners Adrian Bono adrian.bono@storm.partners

February 15, 2024 02:10 PM Eastern Standard Time

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Wormhole Foundation Collaborates with Succinct to Build Ethereum ZK Light Client and Accelerate ZK Development

Wormhole Foundation

Wormhole Foundation is collaborating with the team at Succinct to build an Ethereum ZK Light Client as part of an ongoing effort to further decentralize message verification within the Wormhole platform. Wormhole ZK is being leveraged by developers to minimize trust in the Wormhole platform, improve cross-chain composability, and increase network security. You can read more about the vision of Wormhole ZK in the recently announced ZK roadmap. Meet Succinct Succinct is building core ZK infrastructure, including a decentralized proving network and an open-source zkVM called SP1, so that any developer can build blockchain applications and infrastructure secured by cryptographic truth, not trust. Succinct’s network is a base layer that simplifies the complexities associated with using ZKPs by unifying the entire developer experience into one unified protocol for the entire ZK stack. This protocol streamlines the ZKP development process, providing a standardized interface to seamlessly integrate the latest proof systems and custom hardware for production use in ZKP-based applications. This approach not only accelerates development but also ensures cost-effective and reliable proof generation. Succinct also just this week released the Succinct Processor 1 (SP1), a 100% open-source zkVM that verifies the execution of arbitrary Rust (or any LLVM-compiled language) programs. SP1 targets an order of magnitude performance improvement vs. existing zkVMs—its alpha release is up to 28x faster for certain programs and competitive with circuit-based approaches. You can learn more here. How are Wormhole contributors and Succinct working together? Currently, the Wormhole platform relies on the Wormhole Guardians to verify all multichain messages being sent through the network. The recent advances in zero-knowledge proofs make it feasible to upgrade the security of the protocol by augmenting the Guardian network with cryptographic truth in the form of a ZK light client. The Wormhole contributors are building an Ethereum ZK light client to secure all messages from Ethereum to other EVM chains as part of a recent push on integration of zero-knowledge proofs into the Wormhole platform. The Succinct team is contributing to the Wormhole ecosystem to improve the performance of the Ethereum ZK Light Client and deploy it to production with the Succinct Platform. The Succinct team’s primitives in this GitHub repo provide SOTA STARKs for proving hash functions like SHA256 and signature schemes. SHA256 is a large bottleneck in an Ethereum ZK Light Client, so integrating these accelerators is critical to getting performance to be practical. The Succinct team’s STARK -> SNARK wrapper ( GitHub ) compresses the STARK proofs generated by plonky2 and makes them compatible with Ethereum and other EVM chains, making verification costs significantly cheaper. The Succinct Platform provides easy-to-use hosted proof generation for the Wormhole ZK Light Client proofs, making it easy for Wormhole contributors to deploy the ZK circuits to production seamlessly. By building with Succinct’s tooling, engineers working on Wormhole replaced months of wrangling custom infrastructure for ZKP generation with a seamless production deployment using Succinct’s platform and unified interfaces. With Succinct, the Wormhole ecosystem was able to accelerate its ZK timeline and utilize the latest innovations in ZKPs with ease. In summary, the Wormhole Foundation, in collaboration with Succinct, is developing an Ethereum ZK Light Client to enhance the trust minimization and security of the Wormhole platform. This collaboration leverages Succinct's expertise in decentralized proving networks and its protocol to optimize zero-knowledge proofs. This initiative aims to reduce trust, improve cross-chain composability, and enhance network security using ZKPs to significantly accelerate the Wormhole ZK development roadmap. About Wormhole Foundation The Wormhole Foundation is the steward of Wormhole - the world’s first generalized messaging protocol. Their mission is to empower passionate people in the research and development of blockchain interoperability technologies.Through grants, research, and ecosystem programs, they seek to enable teams to build secure, open-source, and decentralized products within the Wormhole ecosystem. Contact Details Ditto PR Wahaj Khan +1 630-935-7684 wahaj@dittopr.co

February 15, 2024 12:00 PM Eastern Standard Time

Proactive Group Holdings Joins Forces with Sevva AI in UK Government-Backed AI Sustainability Initiative

Proactive Group Holdings

Proactive Group Holdings Inc. (“Proactive”), the AI-powered digital stakeholder engagement firm, is pleased to announce its participation in an artificial intelligence pilot consortium backed by the UK government. This initiative, led by Sevva AI, a leading provider of generative AI automation for enterprise, is focused on the acceleration of trustworthy AI tools aimed at meeting critical sustainability goals and improving green revenue targets. Launched earlier this month and expected to extend into 2025, the collaboration will see the introduction of AI tools as early as April. The innovative technology promises to provide corporations and investors with sophisticated AI tools to manage the complex landscape of ESG investing mandates. The selection of Proactive as a project member follows Sevva AI's receipt of a £500,000 grant from Innovate UK, the UK Government Innovation agency that backs projects that enhance economic growth and productivity. The grant will partially fund the development of Generative AI tools aimed at sustainability assessment, with Sevva AI providing the other half of the required project funding. Emanuela Vartolomei, Sevva founder and Chief Executive, said: “Proactive was chosen for this project for being an early adopter of AI, demonstrating a keen interest in leveraging technology to enhance its sustainability footprint. If you have ambition to go beyond your peer group, you need a boost from AI.” Ian Mclelland, Chief Executive of Proactive, added: “We are delighted to be part of this ground-breaking project. It aligns perfectly with our internal efforts and the launch of our NewsifAI™ platform, our suite of writing and editing tools which has streamlined our news production process. We look forward to working alongside the Sevva team.” On February 5, Proactive unveiled the integration of artificial intelligence within its operations, marking a significant increase in content production capabilities for its financial news platform, Proactive Investors. This strategic advancement is centered around the development and deployment of bespoke generative pre-trained transformers (GPTs) within its proprietary NewsifAI™ editorial platform. About Proactive At Proactive, our mission is to provide best-in-class AI-powered digital solutions to companies across the globe seeking to improve engagement with their stakeholders. Our products deliver media support, corporate websites, engagement analytics, and shareholder tools for publicly listed issuers. Our purpose is to help companies improve their communication and engagement with their shareholders, stakeholders, and the broader investment community. Proactive provides solutions to almost 2,000 companies in Australia, Canada, UK, and the USA. For more information, click here. About Sevva AI www.sevva.ai is a leading provider of NLP and generative AI automation for tier-1 financial institutions and corporations. Sevva provides enterprise-grade automation of key workflows including research, investment and lending processes, sustainability and corporate reporting, regulatory alignment and investor relations. Sevva AI brings to organizations the unique opportunity to explore, test, and integrate AI Agents, Co-Pilots, and Chatbots into their workflows with ease. Contact Details Craig Ribton, Corporate Development Director +44 20 7989 0813 investors@proactiveinvestors.com Company Website https://www.proactive.inc

February 15, 2024 10:12 AM Eastern Standard Time

N6 Powered by KRMA Announces Acquisition of West of Fairfax

N6 Powered by KRMA

N6 Powered by KRMA (N6KRMA), an AI-powered digital marketing and communications agency, today announced its acquisition of boutique digital marketing agency West of Fairfax. Headquartered in Los Angeles, CA, West of Fairfax specializes in bespoke approaches to digital marketing reinforced by over a decade of experience partnering with global clients, including Selena Gomez, Bliss, Cincoro, COOLA, Dee Ocleppo, and more. The company provides a boutique, tailored experience for its clientele that achieves goals by establishing strong brand identities through collaborative partnership. Through the acquisition, West of Fairfax will continue to offer its thoughtful strategy and innovative storytelling approach while elevating the company to new heights. Founded six years ago by Courtney Lopez, Ryan Good, and Ray Lee, West of Fairfax began with its deep roots in social media. Today, the company is led by founder, Chief Executive Officer Courtney Lopez, and her all-female-powered team. West of Fairfax offers content creation, platform management, platform strategy, influencer programming, paid advertising, customized analytics & reporting, and more. With the added strategic support and merged resources of the N6KRMA team, Lopez aims to provide expert and expanded client services while creating unprecedented growth opportunities for the world-class West of Fairfax team. "We are thrilled to take this next step with N6 Powered by KRMA," says Courtney Lopez, Founder of West of Fairfax. "I always knew that we’d need a strategic partner to take the next step as an agency, and after many conversations and much consideration, the perfect fit came to us through N6KRMA; a partner that shares the same vision and standard of excellence for both clients and team members. This collaboration opens doors to many new and exciting possibilities with our expanded resources and a much wider offering of services. It also allows for a new level of care and possibility for the incredible women on our team, of whom I am very proud. The future feels very bright.” The acquisition reflects N6 Powered by KRMA’s commitment to creating a fully integrated offering for clients that combines public relations expertise, technology, cutting-edge digital marketing, and creative strategies. Launched in August 2023, N6KRMA was formed by merging leading AI-enabled marketing technology company KRMA with world-class public relations and marketing firms N6A and Studios. N6 Powered by KRMA brings together the best minds, clients, and capabilities to redefine marketing and public relations as many move into an increasingly data-centric marketplace. Morgan Harris, CEO of North Sixth Group, the parent company of N6 Powered by KRMA, shares Lopez’s excitement for the future: "I am truly excited by our partnership with West of Fairfax. This collaboration marks a significant milestone for N6KRMA, and together, we are poised to shape the future of our industry and deliver unparalleled services to our clients." To learn more about N6 Powered by KRMA and West of Fairfax, please visit N6KRMA.com and Westof.co. About West of Fairfax West of Fairfax promotes a personal, individualized experience that achieves your goals while establishing a strong brand identity and positive brand association. Thoughtful strategy and innovative storytelling are reinforced by more than a decade of experience partnering with global clients. About N6 Powered by KRMA At N6 Powered by KRMA, the ultimate marketing powerhouse comes to life through the seamless integration of public relations, AI, and an exceptional creative team. With unmatched expertise and proprietary AI technology, N6 Powered by KRMA empowers leading global brands to achieve remarkable marketing outcomes. By harmonizing the analytical brilliance of AI with the artistry of public relations and creative campaigns, N6 Powered by KRMA offers solutions that ensure clients thrive in the ever-evolving data-oriented marketing landscape. N6 Powered by KRMA was formed by merging leading AI-enabled marketing technology company KRMA with world-class public relations and marketing firms N6A and Studios. N6 Powered by KRMA is wholly owned and operated by North Sixth Group, a family office operating company with interests in media, marketing, technology, and sports and entertainment businesses. Contact Details N6 Powered by KRMA Jacky Agudelo jacky.agudelo@n6krma.com

February 15, 2024 09:00 AM Eastern Standard Time

Nextdoor Helps Share Kindness in Your Neighborhood

YourUpdateTV

A video accompanying this announcement is available at: https://youtu.be/Ks0CSHf9e3Y Everyone loves a random act of kindness – from a stranger paying for your coffee or giving you a seat on the bus– these little spontaneous actions make a big impact. Small and spontaneous gestures matter even more than we may think. Too many times we forget the impact that simple gestures can make –this is exactly why National Random Acts of Kindness Day is being celebrated – to encourage everyone to spread kindness. Nextdoor wants you to know that it’s not just about spreading kindness, this winter season you should not be shy about making an ‘ask for’ kindness too; often, if you ask a neighbor for help shoveling snow, or cleaning storm drain - they’ll step in and help. Simply giving recognition to someone is another great way to brighten their day. Nextdoor has a new product feature called #ThankANeighbor, that provides a thoughtful prompt to celebrate the displays of kindness you see in your neighborhood. You can read more about it here: https://blog.nextdoor.com/2023/11/03/nextdoor-thank-a-neighbor/ On February 6th, Caty Kobe, Nextdoor US Market Lead, conducted a nationwide media tour to discuss National Random Acts of Kindness Day and these topics: · Provide neighbors with tips about how to celebrate kindness in their neighborhoods, · Advise viewers that 'asks for' kindness are often welcomed by neighbors, particularly during winter weather events. · Highlight new features on Nextdoor that help neighbors recognize and honor one another. To connect with your neighbors on Nextdoor.com, download the app on Google Play or the Apple App Store, or visit nextdoor.com Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

February 14, 2024 12:09 PM Eastern Standard Time

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Seeing Machines highlights strong cash position; says it's on track to achieve revenue targets

Seeing Machines Ltd

Seeing Machines Ltd CEO Paul McGlone joined Proactive's Stephen Gunnion with a comprehensive update on the company’s performance for the first half of 2024. McGlone highlighted a strong financial position with over US$22 million in cash, alongside receivables and inventory totaling an additional US$31 million, positioning the company well for future profitability and breakeven. He emphasised the absence of a need for additional funding, thanks to a projected increase in high-margin software royalties from the automotive sector, which are expected to significantly boost cash flow. McGlone also shared optimism about achieving consensus revenue targets, noting a historical trend of stronger performance in the second half of the financial year. Despite a dip in automotive volumes in the recent quarter, McGlone pointed to the early stages of royalty growth and external economic factors as reasons for variability, maintaining confidence in long-term growth targets. Looking ahead, McGlone anticipates an uptick in cars featuring Seeing Machines’ technology, driven by increasing market demand for semi-autonomous driving features and regulatory requirements. The company’s focus on high-margin royalty revenues within the automotive business is expected to underpin growth and profitability, with significant revenue projections for financial year 2026 based on already secured business. Additionally, Seeing Machines is making strides in the aftermarket sector, with a promising product launch at the Geotab Connect event in Las Vegas. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

February 14, 2024 02:39 AM Eastern Standard Time

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