Artificial Intelligence
Next Games Corp.: Financial Statements Bulletin January-December 2019
Next Games Corporation Company Release February 28, 2020 08:00 EETNext Games Corporation’s Financial Statements Bulletin for January-December 2019 contains financial data for H2/2019 and full-year 2019. Next Games’ Financial Statements Bulletin 2019 is attached to this release and available at www.nextgames.com/reportsJanuary-December 2019 in shortRevenue was EUR 34.7 (35.2) millionGross Profit declined by three percentage points and was EUR 19.7 million, 57% of revenue (21.3; 60%)EBIT was EUR -7.4 (-16.9) millionAdjusted Operating profit improved EUR 9.8 million and was EUR -4.0 (-13.8) millionEBITDA was EUR -3.5 (-14.8) millionThe group’s publishing operations turned profitable with an EBITDA of EUR 3.8 (-4.5)millionProduct development costs were EUR 6.6 (7,5) million, 19% (21%) of revenueThe company had 107 (140) employees at the end of 2019Successful rights offering raised gross proceeds of EUR 8 millionBusiness Finland awarded a EUR 2 million grant for a project to develop Next Games’ machine learning and AI (Artificial Intelligence) capabilitiesJuly-December 2019 in shortRevenue was EUR 15.5 (24.8) millionGross profit declined by eight percentage points and was EUR 8.4 million, 54% (15.3; 62%)EBIT was EUR -3.9 (-12.0) millionAdjusted Operating profit improved EUR 7.6 million and was EUR -2.2 (-9.7) millionEBITDA was EUR -2.0 (-10.0) millionThe Groups’ publishing operations was profitable, generating an EBITDA of EUR 1.5 (-5.0) millionProduct development costs were EUR -3.3 (-4.1) million, 21% (16.5%) of revenue(Numbers in brackets refer to the corresponding year-on-year period unless otherwise mentioned)Key FiguresChief Executive Officer Teemu HuuhtanenAt Next Games, 2019 was a year of transformation and renewal. The year kicked off with the start of our three-phase turnaround plan aimed at reaching a new and lower operating cost level, renewal of our operating and product development processes, and finally securing additional funding.I am very pleased with the swift and efficient execution of stabilizing our baseline operating cost level and the successful conclusion of the turnaround plan. This is an important achievement that enables our strategy execution and future investments. Another highlight of the year was the trust Netflix – one of the most significant companies in the entertainment business – showed us as we commenced our collaboration on the Stranger Things mobile game.Next Games’ operating profit (EBIT) improved by EUR 9.5 million from 2018, although revenues declined by 1.6%. Revenues amounted to EUR 34.7 million in 2019 and we have succeeded in consistently achieving over EUR 30 million revenue levels for four consecutive years. During 2019 we did not publish new games as the testing and development of Blade Runner Nexus continued to 2020.Our publishing operations, i.e. revenues from published games adjusted by all expenses related to the further development of the games, marketing and customer service, turned profitable during 2019. The EBITDA of the publishing operations was EUR 3.8 million. In accordance with our strategy Next Games continued to invest in developing its technology and new, unpublished products. Due to the level of research and development costs, the returns from the company’s published games did not cover all costs of product development and group-wide EBITDA was EUR -3.5 million.In the fall, 2,015 of our existing shareholders participated in our successful rights offering and we raised EUR 8 million towards the company’s future investments. I am very pleased about the commitment of our current shareholders to developing the company and the full subscription undertakings from Jari Ovaskainen and AMC Networks. I would like to thank our new and existing shareholders for their confidence in the future of the company.At the end of 2019, Business Finland awarded in total a grant of EUR 2 million to Next Games for a project to develop its machine learning and AI capabilities. The project directly contributes to the company’s strategic priorities of improving efficiency with the help of AI, among other things.We also continued to develop both of our published The Walking Dead titles, Our World and No Man’s Land. We will continue to optimize investments and resources to match the returns from these games. The combined number of daily active users for both games decreased 23.5% from 2018, whereas the average revenue per daily active user grew by 24%.Additionally, during 2019 we further developed Blade Runner Nexus, a game based on the Blade Runner movie franchise. In the summer of 2019, we announced our collaboration with Netflix to develop a mobile game based on the hit series Stranger Things. According to our plans, we estimate the launch of the game to take place in 2020. We have continued to put effort into building a renewed product portfolio, and have succeeded in kickstarting new game projects thanks to the new product development process.In order to decentralize the company’s risk profile, we will investigate diversifying our agreement framework. Within our existing licensing agreements, the company carries a relatively high risk over a game’s commercial success, which also yields the highest possible return to the company provided the product is successful. It makes sense for us to investigate adding projects with a lower risk profile or more guaranteed returns, such as so called co-development arrangements, and building our business operations on the basis of a combination of different agreement structures.In the future, we will focus developing our business on the foundations of our work in the past few years. Strengthening our strategic partnerships, expanding and actively managing our portfolio will play an important role. We will continue to enhance our operational efficiency through shared infrastructure. Player experience, especially tailored purchase experiences, will play a significant role in our strategy so that our solutions meet and exceed customer expectations.I would like to extend a warm thank you to our partners, shareholders and employees for the last year. I am excited about 2020 as we are in a good position to continue executing our strategy through our improved product development model.Outlook 2020In 2020, Next Games expects to achieve moderate revenue growth. The potential growth will be weighed towards the end of 2020. The company believes its publishing operations EBITDA will continue to be profitable. The company expects the revenues from already published games to continue on a flat or declining trend.Basis for outlookThe outlook is based on an estimate that the company publishes one or two games during 2020. The revenue growth forecast is based on the company’s estimate on the success of its new products. Audiocast and phone conferenceWe will hold an audiocast and a phone conference in English. Next Games’ 2019 review will be presented by CEO Teemu Huuhtanen and CFO Annina Salvén. The English audiocast starts on 28, February, 2020 at 11.00 EET. You can join by using the following link: https://nextgames.videosync.fi/2019-q4-results or by phone.Phone conference details:Finland: +358 981 710 310
Sweden: +46 856 642 651
United Kingdom: +44 333 300 0804
United States: +1 631 913 1422Additional information:
Annina Salvén
CFO
+358 (0) 40 588 3167
[email protected]Certified Adviser: Danske Bank A/S, Finland branch, tel. +358 10 546 7938About Next Games
Next Games (Helsinki Nasdaq First North: NXTGMS) is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefines the way franchise entertainment transforms into highly engaging service-based mobile games. In summer 2018, Next Games launched The Walking Dead: Our World, which utilizes cutting edge AR technology and is powered by Google Maps. Currently Next Games is working on multiple new games based on popular entertainment franchises including, Blade Runner Nexus, for the popular Blade Runner franchise and a mobile game based on Netflix’s Stranger Things. For more information head to www.nextgames.com AttachmentNext Games Financial Statements Bulletin 2019
Artificial Intelligence
Jean-Michel Jarre is world’s first passenger to take off in KleinVision’s flying AirCar
PIESTANY, Slovakia, April 24, 2024 /PRNewswire/ — Godfather of electronic music and innovator Jean-Michel Jarre becomes world’s first passenger to take off in KleinVision’s flying AirCar in preparation for Starmus Opening Concert also Featuring Sir Brian May of Queen.
KleinVision’s AirCar took to the skies with electronic music pioneer, Jean-Michel Jarre as its first passenger this month, signaling a new era of transportation innovation. AirCar, which received the Certificate of Airworthiness in January 2022, has already logged an impressive 130 flight hours and over 520 takeoffs.
“It is like being in a Jules Verne book, but for real! One second you speak to the driver, and next, you are up there in the air – an amazing experience!” said Jean-Michel Jarre after completing two flights in the AirCar at Piestany international airport.
The artist’s excitement was palpable as he marveled at the futuristic experience, perfectly reflecting the theme of his upcoming Starmus opening concert, ‘The Bridge from the Future’, powered by ESET, global digital security leader.
“AirCar addition to Starmus is a fantastic complement to our festival experience,” said Garik Israelian, PhD, astrophysicist at the Institute of Astrophysics of the Canary Islands and co-founder of Starmus, alongside Sir Brian May. “It mirrors the exhilarating journey we embark on, starting with Jean-Michel and Brian’s monumental concert that propels us to new heights, soaring alongside artists and inspiring thinkers like Jane Goodall, and coming back to Earth with the wisdom of astronaut Chris Hadfield once the festival concludes.”
“AirCar will not only be part of the Starmus opening concert, it will also be showcased at Starmus Camp, which, together with the Stephen Hawking Medal Ceremony and nine Nobelists giving lectures, will turn Bratislava into the world capital of science.”
Film director Todd Douglas Miller, Emmy Award-winning filmmaker of Apollo 11, captured the historic moment as he filmed the AirCar soaring at 2500 feet. “It looks impossible. It looks like it’s doing something it should not be doing!” Miller remarked, highlighting the groundbreaking nature of AirCar.
Professor Stefan Klein, inventor and pilot, expressed his pride as Jean-Michel became the inaugural passenger on the groundbreaking aircraft. “From dreams to reality, we have taken flight together with Jean-Michel, opening a new era of transportation with a touch of magic,” said Klein, moments before completing another successful intercity flight from Piestany to Nitra.
Anton Zajac, co-founder of KleinVision and ESET, lauded the advancement the AirCar represents in blurring the lines between roads and skies. “We are bridging the gap between the road and the sky, giving cars the freedom they symbolized 50 years ago,” Zajac remarked.
The flights took place in Piestany, Slovakia, and marked a momentous step towards a future where terrestrial and aerial travel seamlessly converge.
To see the short footage of the flight, click here.
Photo – https://mma.prnewswire.com/media/2395057/Klein_Vision.jpg
View original content:https://www.prnewswire.co.uk/news-releases/jean-michel-jarre-is-worlds-first-passenger-to-take-off-in-kleinvisions-flying-aircar-302124769.html
Artificial Intelligence
SUPCON Unveils Groundbreaking Products in June, Including the World’s First UCS
HANGZHOU, China, April 24, 2024 /PRNewswire/ — In June, SUPCON (688777) is poised to launch two groundbreaking products in Singapore: the world’s first UCS (Universal Control System) and TPT (Time-Series Pre-trained Transformer), the first time-series model in the process industry.
UCS, a revolutionary innovation from SUPCON, is set to revolutionize the 50-year-old DCS architecture, promising to eliminate traditional control cabinets.
TPT, as the pioneering time-series model in the process industry, will replace numerous traditional industrial apps and overcome unsolved industrial challenges.
SUPCON, founded in 1999, is a prominent global provider of intelligent manufacturing solutions for process industries. The company is committed to the development and application of AI technology through the integration of advanced products and extensive industry know-how. With a global customer exceeding 30,000, SUPCON’s products address all needs across over 50 countries and regions, encompassing sectors like oil & gas, refinery & petrochemical, chemical, etc. Aiming at high-quality and sustainable development, SUPCON is on the way to facilitate the automation and intelligentization of the global process industry.
In 2023, SUPCON’s core products, the Distributed Control System (DCS) and the Safety Instrumented System (SIS), both claimed the top market share position in China, achieving respective figures of 37.8% and 33.7%. Notably, the DCS has maintained the No.1 position for a consecutive 13th year.
View original content:https://www.prnewswire.co.uk/news-releases/supcon-unveils-groundbreaking-products-in-june-including-the-worlds-first-ucs-302125406.html
Artificial Intelligence
Automation Anywhere Appoints Tim McDonough as Chief Marketing Officer to Drive Global Awareness and Growth for the Leader in AI-Powered Automation
SAN JOSE, Calif., April 23, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation solutions, announced that AI marketing leader Tim McDonough joined the company as chief marketing officer (CMO). McDonough, who brings more than two decades of experience in driving growth across startups and Fortune 100 companies, will shape and lead Automation Anywhere’s global brand and growth strategies and go-to-market functions.
McDonough joins Automation Anywhere from Intel, where he recently served as vice president and CMO of AI and data centers. McDonough oversaw the transformation of the $14 billion-plus business unit, while guiding the company’s strategy and positioning in the AI market.
“Tim joins us at an incredible time in our journey as we experience a new phase of growth ignited by the transformative benefits of our generative AI process automation models that are transforming our customers’ businesses,” said Mihir Shukla, CEO, Automation Anywhere. “Tim’s impressive experience will be instrumental in our efforts to empower organizations to achieve amazing results by automating more than forty percent of workflows and tasks, and saving millions, even billions, of dollars.”
Prior to Intel, McDonough held executive roles at leading technology companies, including Unity Technologies, Qualcomm, and Microsoft. McDonough’s track record of enterprise and C-suite marketing spans developed and emerging technologies, including AI tools, applications, software-as-a-service (SaaS) solutions, and developer ecosystems.
“I’m looking forward to helping lead Automation Anywhere through its next phase growth as it helps companies transform their business,” said McDonough. “Seeing how customers are innovating with Automation Anywhere’s platform demonstrated to me the incredible market opportunity we have. When you combine automation with generative AI, customers can now go beyond task or departmental impact and automate at an enterprise level, empowering companies and employees to do their very best work.”
McDonough’s appointment comes at a time of remarkable opportunity for the company, marked by Automation Anywhere’s recent record-breaking fourth-quarter performance, continued profitability, and strong outlook in its current fiscal year. Last quarter, Automation Anywhere reported 50 percent growth in large enterprise deals from the previous quarter, highlighting the company’s momentum and strong market position.
About Automation Anywhere
Automation Anywhere is the leader in AI-powered process automation that puts AI to work across organizations. The company’s Automation Success Platform is powered with generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through AI automation. Learn more at http://www.automationanywhere.com/.
Engage with Automation Anywhere
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View original content:https://www.prnewswire.co.uk/news-releases/automation-anywhere-appoints-tim-mcdonough-as-chief-marketing-officer-to-drive-global-awareness-and-growth-for-the-leader-in-ai-powered-automation-302125158.html
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