Artificial Intelligence
BioTelemetry, Inc. Reports Third Quarter 2020 Financial Results
MALVERN, Pa., Oct. 29, 2020 (GLOBE NEWSWIRE) — BioTelemetry, Inc. (NASDAQ:BEAT), the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, today reported results for the quarter ended September 30, 2020.
Quarter Highlights
- Recognized quarterly total revenue of $114.7 million
- Reached 3.0% year-over-year quarterly revenue growth, despite the impact of COVID-19
- Reported quarterly GAAP net income of $6.7 million, or 5.9% of total revenue
- Realized quarterly adjusted EBITDA of $30.6 million, or 26.7% of total revenue
- Acquired Remote Patient Monitoring (“RPM”) assets from a subsidiary of Centene Corporation
President and CEO Commentary
Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, Inc., commented:
“We are pleased to announce that we achieved solid third quarter results with record revenue of $114.7 million and EBITDA of $30.6 million despite the external challenges facing the market at large. This is a testament to the dedication and commitment of the entire BioTelemetry team. All segments of the business contributed to this excellent Q3 rebound, posting 15.7% sequential growth. Cardiac monitoring volumes exited the quarter above pre-COVID levels, and our recurring cardiac revenue increased as a percentage of total revenue. Our Population Health business grew nicely as well, driven by the launch of the Centene partnership.
“Despite the numerous challenges posed by the pandemic, we remained focused on executing our strategy. We continued to augment our Artificial Intelligence capabilities, which are enhancing scalability and improving efficiencies across the enterprise. Telehealth and remote monitoring will continue to play an integral role in a post-COVID-19 marketplace. As one of the largest, fastest growing and most profitable connected health companies, we are perfectly positioned to capitalize on these opportunities. As such, we expect to outperform the market for years to come, with top-line growth of over 15% in 2021.”
Third Quarter Financial Results
Total revenue for the third quarter 2020 was $114.7 million compared to $111.3 million for the third quarter 2019, an increase of $3.4 million, or 3.0%.
Gross profit for the third quarter 2020 was $69.0 million, or 60.2% of total revenue, compared to $69.3 million, or 62.3% of total revenue, for the third quarter 2019.
On a GAAP basis, net income for the third quarter 2020 was $6.7 million, or $0.18 per diluted share, compared to net income of $8.3 million, or $0.23 per diluted share, for the third quarter 2019. The decline in net income was primarily due to increased fixed operating costs as we continue to invest in our anticipated growth, which has been affected by COVID-19.
On an adjusted basis1, net income for the third quarter 2020 was $16.5 million, or $0.45 per diluted share. This compares to adjusted net income of $18.8 million, or $0.52 per diluted share, for the third quarter 2019. The decline in non-GAAP adjusted net income was consistent with the change in GAAP net income. The details regarding adjusted net income are included in the reconciliation tables included in this release.
1 The Company believes that providing non-GAAP financial measures offers a meaningful representation of our performance, as we exclude expenses that are not necessary to support our ongoing business. We also make adjustments to facilitate year over year comparisons. Please refer to our “Reconciliation of GAAP to Non-GAAP Financial Measures” in this release for additional information.
Conference Call
BioTelemetry, Inc. will host an earnings conference call on Thursday, October 29, 2020, at 5:00 PM Eastern Time. The call will be webcast on the investor information page of our website, www.gobio.com. The call will be archived on our website for at least two weeks.
About BioTelemetry
BioTelemetry, Inc. is the leading remote medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care. We provide remote cardiac monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing that serves both healthcare and clinical research customers. More information can be found at www.gobio.com.
Cautionary Statement Regarding Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, our growth prospects, the prospects for our products and our confidence in our future. These statements may be identified by words such as “expect,” “anticipate,” “estimate,” “intend,” “plan,” “believe,” “promises” and other words and terms of similar meaning. Examples of forward-looking statements include statements we make regarding the successful execution of our operating plan, including our ability to increase demand for our products and services, to grow our market share and to recover from the impacts of the COVID-19 pandemic and our expectations regarding revenue trends in our segments. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert or change any of these expectations, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things: our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business; our ability to educate physicians and continue to obtain prescriptions for our products and services; changes to insurance coverage and reimbursement levels by Medicare and commercial payors for our products and services; our ability to attract and retain talented executive management and sales personnel; the commercialization of new competitive products; acceptance of our new products and services, such as our mobile cardiac telemetry patch; the impact of the COVID-19 pandemic; the impact of the October 2019 information technology incident; our ability to obtain and maintain required regulatory approvals for our products, services and manufacturing facilities; changes in governmental regulations and legislation; adverse regulatory actions; our ability to obtain and maintain adequate protection of our intellectual property; interruptions or delays in the telecommunications systems and/or information technology systems that we use; our ability to successfully resolve outstanding legal proceedings; and the other factors that are described in “Part I; Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2019, as well as the factors that are described in “Part II; Item 1A. Risk Factors” of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020.
We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by law.
Contact:
BioTelemetry, Inc.
Heather C. Getz
Executive Vice President, Chief Financial and Administrative Officer
(800) 908-7103
[email protected]
BioTelemetry, Inc.
Consolidated Statements of Operations
(unaudited)
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
(in thousands, except per share data) | 2020 | 2019 | 2020 | 2019 | |||||||||||
Revenue | $ | 114,655 | $ | 111,291 | $ | 317,093 | $ | 327,073 | |||||||
Other revenue | — | — | 9,702 | — | |||||||||||
Total revenue | 114,655 | 111,291 | 326,795 | 327,073 | |||||||||||
Cost of revenue | 45,668 | 41,952 | 125,773 | 122,716 | |||||||||||
Gross profit | 68,987 | 69,339 | 201,022 | 204,357 | |||||||||||
Gross profit % | 60.2 | % | 62.3 | % | 61.5 | % | 62.5 | % | |||||||
Operating expenses: | |||||||||||||||
General and administrative | 32,757 | 29,651 | 95,737 | 87,845 | |||||||||||
Sales and marketing | 11,652 | 12,572 | 35,619 | 37,807 | |||||||||||
Credit loss expense | 6,465 | 5,858 | 18,651 | 16,385 | |||||||||||
Research and development | 3,039 | 3,661 | 9,306 | 10,526 | |||||||||||
Other charges | 3,186 | 2,598 | 10,273 | 7,902 | |||||||||||
Total operating expenses | 57,099 | 54,340 | 169,586 | 160,465 | |||||||||||
Income from operations | 11,888 | 14,999 | 31,436 | 43,892 | |||||||||||
Other expense: | |||||||||||||||
Interest expense | (902 | ) | (2,338 | ) | (4,711 | ) | (7,358 | ) | |||||||
Loss on equity method investments | — | (65 | ) | — | (251 | ) | |||||||||
Other non-operating expense, net | (312 | ) | (845 | ) | (781 | ) | (1,813 | ) | |||||||
Total other expense, net | (1,214 | ) | (3,248 | ) | (5,492 | ) | (9,422 | ) | |||||||
Income before income taxes | 10,674 | 11,751 | 25,944 | 34,470 | |||||||||||
Provision for income taxes | (3,960 | ) | (3,468 | ) | (9,840 | ) | (6,202 | ) | |||||||
Net income | $ | 6,714 | $ | 8,283 | $ | 16,104 | $ | 28,268 | |||||||
Net income per common share: | |||||||||||||||
Basic | $ | 0.20 | $ | 0.24 | $ | 0.47 | $ | 0.83 | |||||||
Diluted | $ | 0.18 | $ | 0.23 | $ | 0.44 | $ | 0.78 | |||||||
Weighted average number of common shares outstanding: | |||||||||||||||
Basic | 34,321 | 33,908 | 34,267 | 33,885 | |||||||||||
Diluted | 36,624 | 36,268 | 36,629 | 36,445 |
BioTelemetry, Inc.
Condensed Consolidated Balance Sheets
September 30, 2020 |
December 31, 2019 |
||||||
(in thousands) | |||||||
ASSETS | (unaudited) | ||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 90,229 | $ | 68,614 | |||
Healthcare accounts receivable, net | 72,351 | 71,851 | |||||
Other accounts receivable, net | 16,287 | 15,625 | |||||
Inventory | 5,538 | 5,738 | |||||
Prepaid expenses and other current assets | 5,976 | 6,505 | |||||
Total current assets | 190,381 | 168,333 | |||||
Property and equipment, net | 63,138 | 56,380 | |||||
Intangible assets, net | 129,023 | 129,596 | |||||
Goodwill | 305,591 | 301,321 | |||||
Deferred tax assets | 4,273 | 12,626 | |||||
Other assets | 44,689 | 17,464 | |||||
Total assets | $ | 737,095 | $ | 685,720 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable | 21,229 | 24,198 | |||||
Accrued liabilities | 46,530 | 27,318 | |||||
Current portion of finance lease obligations | 253 | 394 | |||||
Current portion of long-term debt | — | 3,844 | |||||
Total current liabilities | 68,012 | 55,754 | |||||
Long-term portion of finance lease obligations | 194 | 289 | |||||
Long-term debt | 157,883 | 190,823 | |||||
Other long-term liabilities | 114,625 | 71,937 | |||||
Total liabilities | 340,714 | 318,803 | |||||
Total stockholders’ equity | 396,381 | 366,917 | |||||
Total liabilities and stockholders’ equity | $ | 737,095 | $ | 685,720 |
BioTelemetry, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
Quarterly Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Net Income Per Share
Three Months Ended | ||||||||||||||||
(unaudited) | September 30, 2020 | |||||||||||||||
(in thousands, except per share data) | Income from operations | Income before income taxes | Net income | Net income per diluted share | ||||||||||||
GAAP | $ | 11,888 | $ | 10,674 | $ | 6,714 | $ | 0.18 | ||||||||
Non-GAAP adjustments: | ||||||||||||||||
Other charges (a) | 3,186 | 3,186 | 3,186 | 0.09 | ||||||||||||
Acquisition amortization (b) | 4,084 | 4,084 | 4,084 | 0.11 | ||||||||||||
Other expense adjustments (c) | — | (6 | ) | (6 | ) | — | ||||||||||
Income tax effect of adjustments (d) | — | — | (2,414 | ) | (0.07 | ) | ||||||||||
Impact of NOL utilization (e) | — | — | 4,984 | 0.14 | ||||||||||||
Non-GAAP Adjusted | $ | 19,158 | $ | 17,938 | $ | 16,548 | $ | 0.45 |
Three Months Ended | ||||||||||||||||
(unaudited) | September 30, 2019 | |||||||||||||||
(in thousands, except per share data) | Income from operations | Income before income taxes | Net income | Net income per diluted share | ||||||||||||
GAAP | $ | 14,999 | $ | 11,751 | $ | 8,283 | $ | 0.23 | ||||||||
Non-GAAP adjustments: | ||||||||||||||||
Other charges (a) | 2,598 | 2,598 | 2,598 | 0.07 | ||||||||||||
Acquisition amortization (b) | 3,668 | 3,668 | 3,668 | 0.10 | ||||||||||||
Other expense adjustments (c) | — | 787 | 787 | 0.02 | ||||||||||||
Income tax effect of adjustments (d) | — | — | (1,436 | ) | (0.04 | ) | ||||||||||
Impact of NOL utilization (e) | — | — | 4,903 | 0.14 | ||||||||||||
Non-GAAP Adjusted | $ | 21,265 | $ | 18,804 | $ | 18,803 | $ | 0.52 |
- In the third quarter 2020, other charges of $3.2 million were primarily due to a $1.2 million unfavorable change in the fair value of acquisition-related contingent consideration, $1.1 million for patent and other litigation and $0.9 million of integration and other non-recurring charges. In the third quarter 2019, other charges of $2.6 million were primarily due to $2.1 million for patent and other litigation and $0.4 million for integration and other non-recurring charges.
- In the third quarter 2020 and 2019, we recognized $4.1 million and $3.7 million of expense, respectively, related to the amortization of acquisition-related intangible assets. We have excluded this amortization of acquisition-related intangible assets from non-GAAP adjusted net income due to the non-operational nature of the expense. This amortization was recorded as a component of general and administrative expense.
- In the third quarter 2020, we had an unrealized foreign exchange gain of $0.1 million, offset partially by $0.1 million of interest expense related to a portion of the Geneva Healthcare deferred purchase consideration. In the third quarter 2019, we had an unrealized foreign exchange loss of $0.7 million and interest expense of $0.1 million related to a portion of the Geneva Healthcare deferred purchase consideration.
- Represents the tax effect of the non-GAAP adjustments at the Company’s annual effective tax rate.
- After giving effect to taxes at the estimated annual effective tax rate on the adjustments, the utilization of net operating loss carryforwards had a positive $5.0 million and $4.9 million impact on the third quarter 2020 and 2019, respectively.
BioTelemetry, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
Year-to-Date Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Net Income Per Share
Nine Months Ended | ||||||||||||||||
(unaudited) | September 30, 2020 | |||||||||||||||
(in thousands, except per share data) | Income from operations | Income before income taxes | Net income | Net income per diluted share* | ||||||||||||
GAAP | $ | 31,436 | $ | 25,944 | $ | 16,104 | $ | 0.44 | ||||||||
Non-GAAP adjustments: | ||||||||||||||||
Other charges (f) | 10,273 | 10,273 | 10,273 | 0.28 | ||||||||||||
Acquisition amortization (g) | 11,492 | 11,492 | 11,492 | 0.31 | ||||||||||||
Other expense adjustments (h) | — | 1,159 | 1,159 | 0.03 | ||||||||||||
Income tax effect of adjustments (i) | — | — | (7,618 | ) | (0.21 | ) | ||||||||||
Impact of NOL utilization (j) | — | — | 14,381 | 0.39 | ||||||||||||
Non-GAAP Adjusted | $ | 53,201 | $ | 48,868 | $ | 45,791 | $ | 1.25 | ||||||||
* Total does not add due to rounding |
Nine Months Ended | ||||||||||||||||
(unaudited) | September 30, 2019 | |||||||||||||||
(in thousands, except per share data) | Income from operations | Income before income taxes | Net income | Net income per diluted share* | ||||||||||||
GAAP | $ | 43,892 | $ | 34,470 | $ | 28,268 | $ | 0.78 | ||||||||
Non-GAAP adjustments: | ||||||||||||||||
Other charges (f) | 7,902 | 7,902 | 7,902 | 0.22 | ||||||||||||
Acquisition amortization (g) | 10,742 | 10,742 | 10,742 | 0.29 | ||||||||||||
Other expense adjustments (h) | — | 1,719 | 1,719 | 0.05 | ||||||||||||
Income tax effect of adjustments (i) | — | — | (4,146 | ) | (0.11 | ) | ||||||||||
Impact of NOL utilization (j) | — | — | 8,942 | 0.25 | ||||||||||||
Non-GAAP Adjusted | $ | 62,536 | $ | 54,833 | $ | 53,427 | $ | 1.47 | ||||||||
* Total does not add due to rounding |
- For the nine months ended September 30, 2020, other charges of $10.3 million were primarily due to $3.9 million for patent and other litigation, a $3.1 million unfavorable change in the fair value of acquisition-related contingent consideration, $1.4 million of acquisition and integration costs and $1.9 million of other non-recurring charges. For the nine months ended September 30, 2019, other charges of $7.9 million were primarily due to $5.8 million for patent and other litigation and $3.3 million for integration and restructuring activities related to our acquisitions, partially offset by a $1.7 million reduction in the fair value of acquisition-related contingent consideration.
- For the nine months ended September 30, 2020 and 2019, we recognized $11.5 million and $10.7 million of expense, respectively, related to the amortization of acquisition-related intangible assets. We have excluded this amortization of acquisition-related intangible assets from non-GAAP adjusted net income due to the non-operational nature of the expense. This amortization was recorded as a component of general and administrative expense.
- For the nine months ended September 30, 2020, we incurred $0.9 million of interest expense related to a portion of the Geneva Healthcare deferred purchase consideration and had an unrealized foreign exchange loss of $0.3 million. For the nine months ended September 30, 2019, we had an unrealized foreign exchange loss of $2.2 million and interest expense of $0.2 million related to a portion of the Geneva Healthcare deferred purchase consideration, partially offset by a $0.7 million gain associated with the termination of a former LifeWatch foreign pension plan.
- Represents the tax effect of the non-GAAP adjustments at the Company’s annual effective tax rate.
- After giving effect to taxes at the estimated annual effective tax rate on the adjustments, the utilization of net operating loss carryforwards items had a positive $14.4 million and $8.9 million impact for the nine months ended September 30, 2020 and 2019, respectively.
BioTelemetry, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
Quarterly and Year-to-Date Non-GAAP Adjusted EBITDA and EBITDA Margin
(unaudited) | Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | |||||||||||||||
(in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Net income – GAAP | $ | 6,714 | $ | 8,283 | $ | 16,104 | $ | 28,268 | ||||||||
Provision for income taxes | 3,960 | 3,468 | 9,840 | 6,202 | ||||||||||||
Total other expense, net | 1,214 | 3,248 | 5,492 | 9,422 | ||||||||||||
Other charges | 3,186 | 2,598 | 10,273 | 7,902 | ||||||||||||
Depreciation and amortization expense | 11,518 | 10,295 | 32,882 | 30,508 | ||||||||||||
Stock compensation expense | 4,020 | 3,636 | 11,080 | 9,662 | ||||||||||||
Non-GAAP Adjusted EBITDA | $ | 30,612 | $ | 31,528 | $ | 85,671 | $ | 91,964 | ||||||||
GAAP Net income as a percentage of total revenue | 5.9 | % | 7.4 | % | 4.9 | % | 8.6 | % | ||||||||
Non-GAAP Adjusted EBITDA margin | 26.7 | % | 28.3 | % | 26.2 | % | 28.1 | % |
Quarterly and Year-to-Date Non-GAAP Free Cash Flow
(unaudited) | Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | |||||||||||||||
(in thousands) | 2020 | 2019 | 2020 | 2019 | ||||||||||||
Cash provided by operating activities | $ | 21,889 | $ | 16,472 | $ | 91,434 | $ | 52,602 | ||||||||
Capital expenditures | (10,767 | ) | (7,594 | ) | (27,877 | ) | (23,686 | ) | ||||||||
Non-GAAP Free Cash Flow | $ | 11,122 | $ | 8,878 | $ | 63,557 | $ | 28,916 |
Use of Non-GAAP Financial Measures
In addition to the results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), this press release also includes certain financial measures which have been adjusted and are not in accordance with generally accepted accounting principles (“Non-GAAP financial measures”). These Non-GAAP financial measures include adjusted income from operations, adjusted income before income taxes, adjusted net income, adjusted net income per diluted share, adjusted EBITDA and free cash flow. In accordance with Regulation G of the Securities and Exchange Commission, we have provided a reconciliation of these Non-GAAP financial measures with the most directly comparable financial measure calculated in accordance with GAAP.
These Non-GAAP financial measures are not intended to replace GAAP financial measures. They are presented as supplemental measures of our performance in an effort to provide our stakeholders better visibility into our ongoing operating results and to allow for comparability to prior periods as well as to other companies’ results. Management uses these Non-GAAP financial measures to assess the financial health of our ongoing operating performance. Management encourages our stakeholders to consider all of our financial measures and to not rely on any single financial measure to evaluate our performance.
Adjusted net income for the third quarter 2020 excludes other charges of $3.2 million, $4.1 million of amortization expense related to our acquisition-related intangible assets, $0.1 million of unrealized foreign currency gain, $0.1 million of interest expense related to a portion of the Geneva Healthcare deferred purchase consideration, the tax effect of these adjustments, as well as the impact from the utilization of our net operating loss carryforwards. Adjusted net income for the third quarter 2019 excludes other charges of $2.6 million, $3.7 million of amortization expense related to acquisition-related intangible assets, $0.7 million of unrealized foreign currency loss, $0.1 million of interest expense related to a portion of the Geneva Healthcare contingent consideration, the tax effect of these adjustments, as well as the impact from the utilization of net operating loss carryforwards. By excluding expenses that are considered unnecessary to support the ongoing business, are nonrecurring in nature or which limit year over year comparability, we believe these Non-GAAP financial measures offer a meaningful representation of our ongoing operating performance. Included in these excluded items are transaction related expenses, primarily legal and professional fees, integration related expenses, primarily severance, patent and other litigation, amortization of acquired intangibles, costs related to the October 2019 information technology incident net of insurance proceeds, costs related to restructuring programs aimed at streamlining operations and reducing future expense, as well as other one-time items. These excluded charges are not part of the ongoing operations, and therefore, not reflective of our core operations. We view patent litigation as an extreme measure not typically required in our industry to protect a company’s intellectual property and which has not been common practice for us. We commenced patent litigation proceedings after we uncovered specific evidence of four distinct cases of misappropriation and infringement. We can choose to resolve the outstanding matters and terminate the expense at any time. We also included the income tax effect of these adjustments.
In addition to adjusted income from operations, adjusted income before income taxes, adjusted net income, adjusted net income per diluted share and free cash flow, we also present adjusted EBITDA. This Non-GAAP financial measure excludes income taxes, total other expense, net, other charges, depreciation and amortization and stock compensation expense. EBITDA is a widely accepted financial measure which we believe our stakeholders use to compare our ongoing financial performance to that of other companies. Adjusting our EBITDA for other charges and other one-time items is a meaningful financial measure as we believe it is an indication of our ongoing operations. In addition, we also add back stock-based compensation expense because it is non-cash in nature. Other companies may calculate adjusted EBITDA in a different manner.
Artificial Intelligence
Compact Solutions, Mighty Results: Cervoz Unleashes the Power of Edge Computing
TAIPEI, May 20, 2024 /PRNewswire/ — Cervoz Technology, a leader in industrial-grade storage, memory, and expansion solutions, is powering the evolution of edge computing with its innovative solutions.
In today’s data-rich landscape, businesses rely on insights from IoT devices. With advancements in AI and 5G, data volumes surge, straining traditional cloud computing with bandwidth and latency issues. Edge Computing emerges as a solution, processing data at its source for real-time insights crucial for applications like digital twins, autonomous vehicles, and smart healthcare.
What is Edge Computing?
Edge Computing is a decentralized IT architecture that processes data near its origin, often at the network’s edge. This approach divides tasks from central data centers to edge devices and nodes. It enables faster, deeper insights and enhances responsiveness, improving speed and reducing latency compared to centralized clouds. Typically, an Edge Computing system comprises three layers: device, edge, and cloud.
The Device Layer
The device layer, situated closest to the physical world, comprises endpoint devices such as sensors, controllers, and cameras, among others. The layer prioritizes data collection and initial processing for real-time response and efficiency. It requires highly reliable, compact, and energy-efficient components. Cervoz’s M.2 2230 (A+E key /B+M key) NVMe SSDs and DDR4 SO-DIMM modules optimize this setup with fast data access and efficient storage in space-saving designs. They operate reliably across a wide temperature range (-40°C to 85°C) and feature additional conformal coating and anti-vibration filling for enhanced performance in harsh environments.
The Edge Layer
The edge layer, composed of edge servers and gateways, serves as a crucial link between device-layer data sources and cloud-based operations. It is designed for extensive data handling, filtering, and analytics, emphasizing quick operations and real-time responses to minimize reliance on remote data centers. For optimal performance, components must manage high processing loads with minimal latency and maximum stability. NVMe SSDs boasting PCIe Gen3 or higher, such as the Cervoz NVMe PCIe Gen3x4 SSD, with compact M.2 form factors, advanced DRAM cache buffer, and LDPC ECC technology, are perfectly suited for the edge layer. These SSDs enable efficient directory and error correction during high-speed data transfers, thus enhancing data accuracy and reliability.
The Cloud Layer
The cloud layer requires intensive processing and long-term storage, performing analytics, operating AI and machine learning, and managing extensive data systems across various edge locations. It demands high-performing and reliable components. Cervoz NVMe PCIe Gen4x4 SSDs excel with Read/Write speeds of up to 7,100/6,190 MB/s and 4K random IOPS up to 1,000K, with aluminum heatsinks and thermal throttling for overheating issues. DDR5-5600 DRAM boosts this setup with high data throughput and efficient power use, satisfying rigorous computational needs.
Interlayer Connectivity
Reliable, low-latency network connectivity is crucial as data flows between the device layer, edge, and cloud. Cervoz 10GbE Low-Profile Ethernet Card provides high-speed, stable wired connections in high-bandwidth, low-latency environments. Additionally, the new PCIe Compact Low-Profile Ethernet Card is ideal for narrow edge device enclosures. For areas where wiring is impractical, M.2 Wi-Fi cards offer essential wireless flexibility. These connectivity options ensure a solid foundation for seamless data management across all layers.
Cervoz offers comprehensive solutions to enhance edge computing capabilities. From compact NVMe SSDs and DRAM modules, to advanced modular expansion cards, enabling seamless integration, optimized performance, and unmatched reliability in edge computing deployments.
About Cervoz
Based in Taiwan, Cervoz Technology boasts almost twenty years of expertise in developing and providing industrial-grade storage, memory, and expansion solutions across a myriad of global industrial sectors.
ContactsSales: [email protected]
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Artificial Intelligence
Team Exponentia.ai UK attended the AWS summit in London
Team Exponentia.ai UK celebrates Sanjay Kumar’s insightful session at the AWS summit in London
LONDON, May 20, 2024 /PRNewswire/ — Sanjay Kumar, Head of Exponentia.ai in UK & Europe, delivered an impactful presentation on Driving Manufacturing Innovation through AWS Analytics & AI. The recently concluded AWS Summit took place on the 24th of April in ExCeL, London.
Sanjay shared the stage at Theatre B with Adrian Pinder from DS Smith and Ahmed Raafat from AWS, captivating the audience with insights and experiences from Exponentia.ai’s collaboration with DS Smith.
During the session, Sanjay Kumar highlighted Exponentia.ai’s impressive use cases and case studies, including the Data Factory and Procurement Spend Analytics (PSA) projects undertaken in partnership with DS Smith. These initiatives demonstrated Exponentia.ai’s commitment to leveraging the AWS ecosystem to drive operational efficiency and business growth in the manufacturing sector.
The Exponentia.ai team seized the opportunity to engage with industry peers, partners, and friends, while also exploring the latest innovations showcased at the summit. Their participation in various sessions and visits to innovative booths further enriched their understanding of industry trends and best practices.
Reflecting on the event, Sanjay Kumar expressed his enthusiasm, stating, “The AWS Summit in London provided an excellent platform for us to showcase our expertise in manufacturing analytics and AI. The overwhelming response from attendees reaffirms the value of our solutions in driving innovation and transformation across industries and our commitment to deliver value to our customers through data. We look forward to continuing our collaboration with AWS and our partners to deliver impactful outcomes for our clients.”
The AWS Summit London 2024 marked a significant milestone for Exponentia.ai, reinstating its commitment to excellence and innovation in the field of AI and analytics. As the team eagerly anticipates future events, they remain dedicated to empowering businesses with transformative technology solutions.
For more information about Exponentia.ai and its innovative offerings, please visit www.exponentia.ai.
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Artificial Intelligence
Clarivate Launches AI-Enhanced Solution to Accelerate Trademark Watching
Providing faster and more accurate answers to critical business questions
LONDON, May 20, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, launched the first publicly available version of Trademark Watch Analyzer today at the 2024 International Trademark Association Annual Meeting. As the next-generation trademark protection solution enhanced by artificial intelligence (AI) and cloud technology, this solution combines Clarivate global trademark and case law data, in-house IP expertise, and cutting-edge AI technology. It will provide faster and more accurate answers to critical business questions by automating key trademark watching tasks and intelligently prioritizing result sets.
Trademark Watch Analyzer connects users to trademark datasets in 258 countries and territories across 191 official trademark registers, as well as data from 7+ million trademark litigation cases. This content is harmonized and connected through AI algorithms which query, connect and mine both datasets delivering advanced insights in supported watch products. This revolutionizes the way trademark watch results are delivered, so that clients can rank results based on their chance of success/opposition.
According to data from SAEGIS®, a CompuMark™ trademark solution from Clarivate, the number of trademark applications filed globally each year has more than doubled since 2014. With over one million new trademarks added to trademark registers around the world each month, the risk of infringement has never been greater, making vigilance of trademark applications essential to protect and grow strong brands.
Gordon Samson, President, Intellectual Property, Clarivate, said: “As the global business landscape grows more complex, trademark professionals are faced with challenges including more data, less context and shorter deadlines. Our advanced AI-driven solution enables clients to confidently monitor their trademarks anywhere in the world, with global monitoring and automated alerts, while also saving time, costs and critical resources. The launch of the Trademark Watch Analyzer is the latest example of our Think forward™ promise — connecting clients to trusted intelligence to ensure an IP-empowered tomorrow.”
With a more intuitive design and user interface, Trademark Watch Analyzer will enable clients to have a much-improved user experience as they work with their results. The navigation will be based on the same architecture as the Brand Landscape Analyzer launched in 2023, providing clients with a more cohesive experience within the Clarivate product suite.
Find out more about Trademark Watch Analyzer here.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact: Jack Wan, External Communications Director [email protected]
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