Beamr Imaging reports 1H EPS (13c) vs. (8c) last year

Reports 1H revenue $1M vs. $0.955M last year. CEO Sharon Carmel said, “I am pleased to update you on our Q2-2024 activities and progress, which include significant developments in Beamr Cloud video services, Beamr product enhancements and collaborations with industry giants. These developments span the integration of artificial intelligence features into Beamr Cloud, an improved pricing model for our products and demonstrations at industry premier events, including optimization of real-time video streaming and videos rendered from 3D models. To support our future growth, we have appointed two new senior management roles, a Chief Operations Officer and a Head of Human Resources. We believe that Beamr Cloud’s new AI services are only the tip of the iceberg – as the video world undergoes a revolution, video processes are no longer focused mainly on storage and streaming challenges, but also video that itself transforms into AI video. AI video allows, for example, searching inside the video just like in text. It could also include enhancement of quality, appearance and acceleration of delivery to customers. Later this year, we plan to release additional video AI enhancement features into Beamr Cloud…In Q2-2024 and continuing into Q3-2024, we strengthened and expanded our activities, mainly due to raising gross proceeds of approximately $13.8 million in an underwritten offering that we closed in February 2024. To further accelerate Beamr’s growth, we have recently appointed a Chief Operations Officer, Mr. Haggai Barel. In his new role, Mr. Barel will be responsible for advancing Beamr’s significant growth in research & development, product and marketing, and will be an essential contributor in building and promoting Beamr Cloud. Furthermore, we have appointed Ms. Yael Carter as Head of Human Resources. Ms. Carter will contribute significantly to scaling Beamr’s workforce in order to drive the growth of our company and cloud services. In the coming months, our enhanced management, together with our marketing, sales and research and development teams, will focus on the rapid addition of unique cloud capabilities that will further differentiate Beamr Cloud from other services, alongside seeking out new opportunities for further collaborations and partnerships, distribution agreements and contracts with new customers.”