Artificial Intelligence

NVIDIA Announces Financial Results for Third Quarter Fiscal 2022

Published

3 years ago

November 17, 2021

Record revenue of $7.10 billion, up 50 percent from a year earlier
Record Data Center revenue of $2.94 billion, up 55 percent from a year earlier
Record Gaming revenue of $3.22 billion, up 42 percent from a year earlier

SANTA CLARA, Calif., Nov. 17, 2021 (GLOBE NEWSWIRE) — NVIDIA (NASDAQ: NVDA) today reported record revenue for the third quarter ended October 31, 2021, of $7.10 billion, up 50 percent from a year earlier and up 9 percent from the previous quarter, with record revenue from the company’s Gaming, Data Center and Professional Visualization market platforms.

GAAP earnings per diluted share for the quarter were $0.97, up 83 percent from a year ago and up 3 percent from the previous quarter. Non-GAAP earnings per diluted share were $1.17, up 60 percent from a year ago and up 13 percent from the previous quarter.

“The third quarter was outstanding, with record revenue,” said Jensen Huang, founder and CEO of NVIDIA. “Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.

“Our GTC event series showcases the expanding universe of NVIDIA accelerated computing. Last week’s event was our most successful yet, highlighting diverse applications, including supply-chain logistics, cybersecurity, natural language processing, quantum computing research, robotics, self-driving cars, climate science and digital biology.

“Omniverse was a major theme at GTC. We showed what is possible when we can jump into virtual worlds. Omniverse will be used from collaborative design, customer service avatars and video conferencing, to digital twins of factories, processing plants, even entire cities. Omniverse brings together NVIDIA’s expertise in AI, simulation, graphics and computing infrastructure. This is the tip of the iceberg of what’s to come,” he said.

NVIDIA paid quarterly cash dividends of $100 million in the third quarter. It will pay its next quarterly cash dividend of $0.04 per share on December 23, 2021, to all shareholders of record on December 2, 2021.

Q3 Fiscal 2022 Summary

GAAP
*($ in millions, except earnings per share)*	Q3 FY22	Q2 FY22	Q3 FY21	Q/Q	Y/Y
Revenue	$7,103	$6,507	$4,726	Up 9%	Up 50%
Gross margin	65.2%	64.8%	62.6%	Up 40 bps	Up 260 bps
Operating expenses	$1,960	$1,771	$1,562	Up 11%	Up 25%
Operating income	$2,671	$2,444	$1,398	Up 9%	Up 91%
Net income	$2,464	$2,374	$1,336	Up 4%	Up 84%
Diluted earnings per share*	$0.97	$0.94	$0.53	Up 3%	Up 83%

Non-GAAP
*($ in millions, except earnings per share)*	Q3 FY22	Q2 FY22	Q3 FY21	Q/Q	Y/Y
Revenue	$7,103	$6,507	$4,726	Up 9%	Up 50%
Gross margin	67.0%	66.7%	65.5%	Up 30 bps	Up 150 bps
Operating expenses	$1,375	$1,266	$1,101	Up 9%	Up 25%
Operating income	$3,386	$3,071	$1,993	Up 10%	Up 70%
Net income	$2,973	$2,623	$1,834	Up 13%	Up 62%
Diluted earnings per share*	$1.17	$1.04	$0.73	Up 13%	Up 60%

^{*All per share amounts presented herein have been retroactively adjusted to reflect the four-for-one stock split which was effective July 19, 2021.}

NVIDIA’s outlook for the fourth quarter of fiscal 2022 is as follows:

Revenue is expected to be $7.40 billion, plus or minus 2 percent.
GAAP and non-GAAP gross margins are expected to be 65.3 percent and 67.0 percent, respectively, plus or minus 50 basis points.
GAAP and non-GAAP operating expenses are expected to be approximately $2.02 billion and $1.43 billion, respectively.
GAAP and non-GAAP other income and expense are both expected to be an expense of approximately $60 million, excluding gains and losses from non-affiliated investments.
GAAP and non-GAAP tax rates are both expected to be 11 percent, plus or minus 1 percent, excluding any discrete items such as excess tax benefits or deficiencies related to stock-based compensation.

Highlights

At last week’s GTC, NVIDIA announced the following:

AI Software

65 new and updated software development kits ― bringing improved features and capabilities to data scientists, researchers and developers ― including NVIDIA Modulus, a framework for developing physics-ML models, NVIDIA ReOpt, an accelerated solver that optimizes vehicle route planning and logistics, and NVIDIA cuNumeric, which brings accelerated computing to the large and growing Python NumPy ecosystem.
Tools for developing and deploying large language models: NVIDIA NeMo Megatron, for training models with trillions of parameters; the Megatron 530B customizable LLM that can be trained for new domains and languages; and NVIDIA Triton Inference Server™ with multi-GPU, multinode distributed inference functionality.
New capabilities in the open source NVIDIA Triton Inference Server software, which provides cross-platform inference on all AI models and frameworks, and NVIDIA TensorRT™, which optimizes AI models.
Zero-trust cybersecurity platform ― comprising NVIDIA BlueField DPUs, NVIDIA DOCA and NVIDIA Morpheus cybersecurity platform ― allowing the cybersecurity industry to build solutions that defend customer data centers in real time.
NVIDIA Riva Custom Voice, a feature in NVIDIA Riva AI software that makes custom text-to-speech practical for companies; NVIDIA Riva Enterprise will be commercially available for enterprises early next year, with applicability to a wide range of applications such as virtual assistants and video conferencing.

Omniverse

NVIDIA Omniverse Avatar, a platform for generating interactive AI avatars, which connects the company’s technologies in speech AI, computer vision, natural language understanding, recommendation engines and simulation technologies.
NVIDIA Omniverse Replicator, a synthetic-data-generation engine that produces physically simulated synthetic data for training deep neural networks.

Networking

NVIDIA Quantum-2, a 400Gbps InfiniBand end-to-end networking platform, with the extreme performance, broad accessibility and strong security needed by cloud computing providers and supercomputing centers.

Automotive/Robotics/Healthcare

NVIDIA DRIVE Concierge and DRIVE Chauffeur, AI platforms built with NVIDIA DRIVE Orin, which are intelligent technologies that transform the digital experience inside the car with Omniverse Avatar, enabling safe autonomous driving on highways and urban streets.
NVIDIA DRIVE Hyperion 8, a computer architecture and sensor set for self-driving systems.
NVIDIA Jetson AGX Orin™, the world’s smallest, most powerful and energy-efficient AI supercomputer for robotics, autonomous machines, medical devices and more.
NVIDIA Clara Holoscan, an AI computing platform for medical-device makers to adopt software-as-a-service offerings with upgradable, scalable and end-to-end processing of streamed data.

Additionally, the company achieved progress since its previous earnings announcement in these areas:

Gaming

Third-quarter revenue was a record $3.22 billion, up 42 percent from a year earlier and up 5 percent from the previous quarter.
Announced RTX capabilities coming to blockbuster titles like Marvel’s Guardians of the Galaxy, Battlefield 2042 and Dying Light 2, as well as Sony Interactive and Santa Monica Studio’s God of War.
Announced new RTX-accelerated AI features in Adobe applications at the Adobe MAX creativity conference, supported by the latest Studio Driver, and new Studio systems from partners, including Microsoft, HP and Asus.
Enhanced GeForce NOW™ with a new high-performance membership tier providing access to GeForce RTX™ 3080-class gaming, and with the introduction of more Electronic Arts hit games, including Battlefield 1 Revolution, Mirror’s Edge Catalyst, Unravel Two and Dragon Age: Inquisition.

Data Center

Third-quarter revenue was a record $2.94 billion, up 55 percent from a year earlier and up 24 percent from the previous quarter.
Announced plans to build Earth-2, an AI supercomputer dedicated to addressing the global climate change crisis.
Announced the general availability of NVIDIA AI Enterprise, a comprehensive software suite of AI tools and frameworks that enables the hundreds of thousands of companies running VMware vSphere to virtualize AI workloads on NVIDIA-Certified Systems™.
Expanded NVIDIA LaunchPad, which provides immediate access to optimized software running on accelerated infrastructure, from North America to nine global locations.
Described a collaboration involving NVIDIA Megatron-LM and Microsoft DeepSpeed to create an efficient, scalable, 3D parallel system capable of combining data, pipeline and tensor-slicing-based parallelism.
Announced further collaboration with VMware, supporting trials of VMware vSphere with Tanzu on the NVIDIA AI Enterprise platform.
Shared news that the largest GPU-based supercomputer at the U.S. Department of Energy’s Argonne National Laboratory, Polaris, will run on NVIDIA’s accelerated computing platform, and be able to achieve almost 1.4 exaflops of AI performance.

Professional Visualization

Third-quarter revenue was a record $577 million, up 144 percent from a year earlier and up 11 percent from the previous quarter.
Announced NVIDIA Omniverse Enterprise is in general availability, with the addition of AR, VR and multi-GPU rendering, as well as announced adoption by Bentley Systems and Esri for digital-twin applications.

Automotive

Third-quarter revenue was $135 million, up 8 percent from a year earlier and down 11 percent from the previous quarter.
Announced that NVIDIA DRIVE Orin is being used by autonomous truck company Kodiak Robotics, automaker Lotus, autonomous driving-solutions provider QCraft and EV startup WM Motor.

CFO Commentary
Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at https://investor.nvidia.com/.

Conference Call and Webcast Information
NVIDIA will conduct a conference call with analysts and investors to discuss its third quarter financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its fourth quarter and fiscal year 2022.

Non-GAAP Measures
To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, IP-related costs, gains and losses from non-affiliated investments, interest expense related to amortization of debt discount, the associated tax impact of these items where applicable, and domestication tax benefit. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases of property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.

About NVIDIA
NVIDIA’s (NASDAQ: NVDA) invention of the GPU in 1999 sparked the growth of the PC gaming market and has redefined modern computer graphics, high performance computing and artificial intelligence. The company’s pioneering work in accelerated computing and AI is reshaping trillion-dollar industries, such as transportation, healthcare and manufacturing, and fueling the growth of many others. More information at https://nvidianews.nvidia.com/.

For further information, contact:

Certain statements in this press release including, but not limited to, statements as to: demand for AI surging and its broadening adoption; the growing market of gamers and creators, as well as designers and professionals building home workstations; the expanding universe of NVIDIA accelerated computing; the uses of Omniverse and it bringing together NVIDIA’s expertise in AI, simulation, graphics, and computing infrastructure; the benefits, performance and abilities of our products and technologies, including NVIDIA Modulus, NVIDIA ReOpt, NVIDIA cuNumeric, NVIDIA NeMo Megatron, NVIDIA Triton Inference Server, NVIDIA TensorRT, NVIDIA’s zero-trust cybersecurity platform, NVIDIA Riva, NVIDIA Riva Enterprise, NVIDIA Omniverse Avatar, NVIDIA Omniverse Replicator, NVIDIA Quantum-2, NVIDIA DRIVE Concierge and DRIVE Chauffeur, NVIDIA DRIVE Hyperion 8, NVIDIA Jetson AGX Orin, Clara Holoscan, NVIDIA AI Enterprise, NVIDIA LaunchPad, the collaboration between NVIDIA Megatron-LM and Microsoft DeepSpeed, the collaboration with VMware, and NVIDIA Omniverse Enterprise; plans to run Polaris on NVIDIA’s accelerated computing platform; NVIDIA’s next quarterly cash dividend; NVIDIA’s financial outlook for the fourth quarter of fiscal 2022; and NVIDIA’s expected tax rates for the fourth quarter of fiscal 2022 are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2021 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, GeForce, BlueField, GeForce NOW, GeForce RTX, NVIDIA Clara, NVIDIA DOCA, NVIDIA DRIVE, NVIDIA Jetson AGX Orin, NVIDIA Omniverse, NVIDIA ReOpt, NVIDIA RTX, NVIDIA Triton Interface Server, NVIDIA-Certified Systems, GeForce NOW, GeForce RTX and TensorRT are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share data)
(Unaudited)


			Three Months Ended						Nine Months Ended
			October 31,			October 25,			October 31,			October 25,
				2021			2020			2021			2020

Revenue			$	7,103		$	4,726		$	19,271		$	11,672
Cost of revenue				2,472			1,766			6,795			4,432
Gross profit				4,631			2,960			12,476			7,240
Operating expenses
	Research and development			1,403			1,047			3,802			2,778
	Sales, general and administrative			557			515			1,603			1,437
		Total operating expenses		1,960			1,562			5,405			4,215
Income from operations				2,671			1,398			7,071			3,025
	Interest income			7			7			20			50
	Interest expense			(62	)		(53	)		(175	)		(131	)
	Other, net			22			(4	)		160			(5	)
		Other income (expense), net		(33	)		(50	)		5			(86	)
Income before income tax				2,638			1,348			7,076			2,939
Income tax expense				174			12			327			64
Net income			$	2,464		$	1,336		$	6,749		$	2,875

Net income per share (A):
	Basic		$	0.99		$	0.54		$	2.71		$	1.17
	Diluted		$	0.97		$	0.53		$	2.67		$	1.15

Weighted average shares used in per share computation (A):
	Basic			2,499			2,472			2,493			2,464
	Diluted			2,538			2,520			2,532			2,504

(A) Reflects a four-for-one stock split on July 19, 2021.

NVIDIA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)


			October 31,		January 31,
			2021		2021
ASSETS

Current assets:
	Cash, cash equivalents and marketable securities		$	19,298	$	11,561
	Accounts receivable, net			3,954		2,429
	Inventories			2,233		1,826
	Prepaid expenses and other current assets			321		239
		Total current assets		25,806		16,055

Property and equipment, net				2,509		2,149
Operating lease assets				830		707
Goodwill				4,302		4,193
Intangible assets, net				2,454		2,737
Deferred income tax assets				970		806
Other assets				3,761		2,144
		Total assets	$	40,632	$	28,791

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:
	Accounts payable		$	1,664	$	1,201
	Accrued and other current liabilities			1,948		1,725
	Short-term debt			–		999
		Total current liabilities		3,612		3,925

Long-term debt				10,944		5,964
Long-term operating lease liabilities				743		634
Other long-term liabilities				1,535		1,375
		Total liabilities		16,834		11,898

Shareholders’ equity				23,798		16,893
		Total liabilities and shareholders’ equity	$	40,632	$	28,791

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)


		Three Months Ended						Nine Months Ended
		October 31,			October 25,			October 31,			October 25,
			2021			2020			2021			2020

Cash flows from operating activities:
Net income		$	2,464		$	1,336		$	6,749		$	2,875
Adjustments to reconcile net income to net cash
provided by operating activities:
	Stock-based compensation expense		559			383			1,453			981
	Depreciation and amortization		298			299			865			810
	Deferred income taxes		(21	)		(53	)		(182	)		(117	)
	(Gains) losses on investments in non affiliates, net		(20	)		–			(152	)		–
	Other		10			2			25			(2	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(366	)		(463	)		(1,523	)		(667	)
	Inventories		(118	)		(93	)		(400	)		(190	)
	Prepaid expenses and other assets		(1,575	)		(443	)		(1,557	)		(409	)
	Accounts payable		195			225			474			289
	Accrued and other current liabilities		(62	)		31			70			111
	Other long-term liabilities		155			55			253			74
Net cash provided by operating activities			1,519			1,279			6,075			3,755
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		2,545			4,133			7,780			5,165
	Proceeds from sales of marketable securities		211			243			916			502
	Purchases of marketable securities		(6,752	)		(4,554	)		(16,020	)		(12,840	)
	Purchases related to property and equipment and intangible assets		(221	)		(473	)		(703	)		(845	)
	Acquisitions, net of cash acquired		(203	)		(1,353	)		(203	)		(8,524	)
	Investments and other, net		(18	)		3			(14	)		(4	)
Net cash used in investing activities			(4,438	)		(2,001	)		(8,244	)		(16,546	)
Cash flows from financing activities:
	Issuance of debt, net of issuance costs		(8	)		–			4,977			4,971
	Proceeds related to employee stock plans		149			96			277			190
	Repayment of debt		(1,000	)		–			(1,000	)		–
	Payments related to tax on restricted stock units		(440	)		(298	)		(1,282	)		(716	)
	Dividends paid		(100	)		(99	)		(298	)		(296	)
	Principal payments on property and equipment		(22	)		–			(62	)		–
	Other		–			–			(2	)		(3	)
Net cash provided by (used in) financing activities			(1,421	)		(301	)		2,610			4,146
Change in cash and cash equivalents			(4,340	)		(1,023	)		441			(8,645	)
Cash and cash equivalents at beginning of period			5,628			3,274			847			10,896
Cash and cash equivalents at end of period		$	1,288		$	2,251		$	1,288		$	2,251

NVIDIA CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In millions, except per share data)
(Unaudited)

	Three Months Ended									Nine Months Ended
	October 31,			August 1,			October 25,			October 31,			October 25,
		2021			2021			2020			2021			2020

GAAP gross profit	$	4,631		$	4,215		$	2,960		$	12,476		$	7,240
GAAP gross margin		65.2	%		64.8	%		62.6	%		64.7	%		62.0	%
Acquisition-related and other costs (A)		86			86			86			258			331
Stock-based compensation expense (B)		44			32			28			102			62
IP-related costs		–			4			21			8			38
Non-GAAP gross profit	$	4,761		$	4,337		$	3,095		$	12,844		$	7,671
Non-GAAP gross margin		67.0	%		66.7	%		65.5	%		66.6	%		65.7	%

GAAP operating expenses	$	1,960		$	1,771		$	1,562		$	5,405		$	4,215
Stock-based compensation expense (B)		(515	)		(433	)		(355	)		(1,351	)		(919	)
Acquisition-related and other costs (A)		(70	)		(72	)		(106	)		(224	)		(338	)
Non-GAAP operating expenses	$	1,375		$	1,266		$	1,101		$	3,830		$	2,958

GAAP income from operations	$	2,671		$	2,444		$	1,398		$	7,071		$	3,025
Total impact of non-GAAP adjustments to income from operations		715			627			595			1,943			1,689
Non-GAAP income from operations	$	3,386		$	3,071		$	1,993		$	9,014		$	4,714

GAAP other income (expense), net	$	(33	)	$	(50	)	$	(50	)	$	5		$	(86	)
(Gains) losses from non-affiliated investments		(20	)		–			4			(153	)		9
Interest expense related to amortization of debt discount		1			1			1			3			1
Non-GAAP other income (expense), net	$	(52	)	$	(49	)	$	(45	)	$	(145	)	$	(76	)

GAAP net income	$	2,464		$	2,374		$	1,336		$	6,749		$	2,875
Total pre-tax impact of non-GAAP adjustments		696			628			600			1,793			1,699
Income tax impact of non-GAAP adjustments (C)		(187	)		(127	)		(102	)		(381	)		(255	)
Domestication tax benefit		–			(252	)		–			(252	)		–
Non-GAAP net income	$	2,973		$	2,623		$	1,834		$	7,909		$	4,319

Diluted net income per share (D)
GAAP	$	0.97		$	0.94		$	0.53		$	2.67		$	1.15
Non-GAAP	$	1.17		$	1.04		$	0.73		$	3.12		$	1.72

Weighted average shares used in diluted net income per share computation (D)		2,538			2,532			2,520			2,532			2,504

GAAP net cash provided by operating activities	$	1,519		$	2,682		$	1,279		$	6,075		$	3,755
Purchases related to property and equipment and intangible assets		(221	)		(183	)		(473	)		(703	)		(845	)
Principal payments on property and equipment		(22	)		(21	)		–			(62	)		–
Free cash flow	$	1,276		$	2,478		$	806		$	5,310		$	2,910



(A) Acquisition-related and other costs primarily include amortization of intangible assets, inventory step-up, transaction costs, and certain compensation charges presented as follows:
	Three Months Ended									Nine Months Ended
	October 31,			August 1,			October 25,			October 31,			October 25,
		2021			2021			2020			2021			2020
Cost of revenue	$	86		$	86		$	86		$	258		$	331
Research and development	$	7		$	1		$	2		$	10		$	7
Sales, general and administrative	$	63		$	71		$	104		$	214		$	331

(B) Stock-based compensation consists of the following:
	Three Months Ended									Nine Months Ended
	October 31,			August 1,			October 25,			October 31,			October 25,
		2021			2021			2020			2021			2020
Cost of revenue	$	44		$	32		$	28		$	102		$	62
Research and development	$	363		$	297		$	232		$	935		$	594
Sales, general and administrative	$	152		$	136		$	123		$	416		$	325

(C) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).

(D) Reflects a four-for-one stock split on July 19, 2021.

NVIDIA CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK


		Q4 FY2022 Outlook
		($ in millions)

GAAP gross margin			65.3	%
	Impact of stock-based compensation expense, acquisition-related costs, and other costs		1.7	%
Non-GAAP gross margin			67.0	%

GAAP operating expenses		$	2,015
	Stock-based compensation expense, acquisition-related costs, and other costs		(585	)
Non-GAAP operating expenses		$	1,430

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

1 day ago

September 27, 2024

CISION (PR Newswire)

DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

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Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

Published

1 day ago

September 27, 2024

CISION (PR Newswire)

CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.

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