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NextPlay Technologies Reports FY2022 Revenue of $8.2 Million

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SUNRISE, FL, June 21, 2022 (GLOBE NEWSWIRE) — via NewMediaWire —NextPlay Technologies, Inc. (NASDAQ: NXTP), a digital business ecosystem for digital advertisers, consumers, video gamers and travelers, reported results for the fourth quarter and fiscal year 2022 ended February 28, 2022. 

Fiscal 2022 Financial Highlights

●        Achieved record annual revenue of $8.2 million, which compares very favorably to no revenue in the last year.

●        Consolidated gross profit totaled $5.9 million, or 71%, of total revenue compared to none in the last year.

●        As of February 28, 2022, and 2021, we had total assets of $99.8 million and $11.5 million, respectively, primarily as a result of the reverse merger and additional acquisitions of Reinhart Interactive TV AG and Zappware N.V. and NextBank International.

●        Cash and cash equivalents as of February 28, 2022, were $6.6 million versus $0.4 million as of February 28, 2021.

Fiscal 2022 Operational Highlights

●        Completed merger with HotPlay Enterprises and rebranded the company as NextPlay Technologies.

●        In connection with the HotPlay Enterprises Merger, Nithinan “Jess” Boonyawattanapisut, NextPlay’s Co-Chief Executive Officer, was appointed as Principal Executive Officer of NextPlay.

●        Reinhart Interactive TV, a NextPlay-funded strategic partnership, acquired award-winning Interactive TV provider, Zappware, founded in 2001 by former employees of Philips Media.

●        Acquired controlling interest in International Financial Enterprise Bank (IFEB), a global financial institution.

●        Received conditional approvals for insurance and reinsurance licenses enabling NextPlay’s NextShield LTD business unit to establish digital primary insurance and reinsurance operations and to offer blockchain-delivered products, such as parametric comprehensive travel insurance and bank deposit insurance.

●        Company’s licensed Longroot digital token offering platform engaged to serve as the financial advisor and underwriter for Ample’s proposed security token offering (STO). 

●        Launched NextPlay X Soma Labs, an innovation and design platform bringing together non-fungible tokens (NFTs), social games, and Metaverse virtual worlds for major brands, creators, and agencies.

●        Entered into agreement to acquire from Fighter Base Publishing the assets and AI-powered video game development platform of its wholly owned division, Make It Games™, which was closed subsequent to the fiscal year end.

●        Appointed Mark Vange, an industry leader in video game development and in-game advertising and former chief technology officer of Electronic Arts Interactive, as chief technology officer of the company.

●        ABCC – Signed a memorandum of understanding with Alphabit Consulting Pte. Ltd. to provide NextBank International deposit accounts and payment cards for members of its ABCC cryptocurrency exchange.

Subsequent events

●        Signed memorandum of understanding with TruCash to launch NextBank Payments, which is anticipated to include (but not be limited to) Mobile Wallets, Mobile Payments, Credit cards, Debit Cards, and Prepaid products. In addition, NextBank expects to have the opportunity to offer NextBank’s international banking services to TruCash’s millions of account holders worldwide.

●        Signed preliminary agreement with Decentralised Investment Group (DIG), a leading global blockchain technology company, to develop and operate an exclusive fiat payment platform for DIG customers, and would initially include in-game assets from Realms of Ethernity (RoE), the world’s first MMORPG (massively multiplayer online role-playing games) NFT game.

●        Acquired goPlay assets, including a new-gen game publishing platform featuring a tournament system, chat, payment, and 37 casual games ranging from arcade to strategy. NextPlay plans to complete the integration of its HotPlay in-game advertising (IGA) technology into the 37 goPlay games by year-end. The Asset purchase also included a perpetual license to goPay, a payment aggregator that offers game developers multiple ways to more easily collect and process user payments through carrier billing, over the counter, e-voucher, bank transfer and e-wallet transfers.

Management Commentary

“The significant increase in our gross margin expansion demonstrates how we continue to more efficiently utilize and better leverage all of the components we brought into our ecosystem via several synergistic acquisitions that we did last year. During the fourth quarter, a lot more effort was allocated to actual platform development to leverage the foundation we have laid out in the last quarter further in order to increase the array of services we will be offering to our customers. Separately, we reached agreements with several key partners for product rollout collaboration and cross-selling products to their existing customers,” commented NextPlay Co-CEO and Principal Executive Officer, Nithinan “Jess” Boonyawattanapisut. 

“During our fiscal 4th quarter, 2022, our digital interactive media division, NextMedia, delivered an updated version of Blockbuster 2048, its first in-house casual game and the first of the 16 games currently in the pipeline, including Evergreen Forest, Rolly Loops, Skyline Stack, Hook’n Hop, Booster Maths, that are also expected to be released in fiscal 2023 to iOS and Android app stores. All of these games will come with cross-platform capability. In conjunction, we have now released HotPlay 2.0, with advertising and real-world rewards delivery technology for businesses, with significantly enhanced integration and deep-linking support into Unity games, via a generational update of its Unity SDK for iOS, Android, Android TV and HTML5.

“HotPlay 2.0 is being incrementally opened to selected partners while it continues its steady progression towards the delivery of a global platform for all actors via its connected ecosystem of back-office tools for advertisers (with Advertiser Portal), game publishers (with Publisher Portal and its Unity Game SDK), and apps for consumers and players (including its HotPlay Reward Redemption native mobile app for iOS and Android).

“With the continued development of the HotPlay platform and integration of the MakeItGames AI animation platform, we anticipate the platform will introduce disruptive and game-changing capabilities to game, virtual reality, Metaverse and other immersive experiences for partners.

“Our Fintech division comprises our insurance, reinsurance, online banking, and crypto portal operations.  The division has been our most active division in terms of new business development and revenue generation. NextBank’s revenue grew more than 206% compared to Q3 of FY 2022. The team continues to bring forth a diversified set of Fintech solutions to the market that are expected to offer asset banking, asset management, mobile payment, and a range of retail banking services to customers around the world. Our online banking platform with a new and more robust core banking system is scheduled to be available by the 1st half of fiscal 2023. Once implemented, we expect to see a significant acceleration, and multiple folds of growth, in the number of customers, amounts of deposits, and revenue generation. We expect NextBank profitability this year.

“NextBank welcomes blockchain industry participants and is focused on providing enabling capabilities to clients in the DeFi, NFT, and exchange verticals. We also plan to issue our own digital insurance tokens, which are expected to allow customers to purchase any of our insurance products, as well as a series of stable coins to facilitate remittance services that NextBank will provide. We expect the Fintech division to contribute significantly to earnings in FY 2023 whereby NextPlay as a whole would turn a profit, driven initially by NextBank’s results.

“Our travel division achieved several milestones in the 4th quarter of FY 2022, to position the company for growth. We have recently completed integrations on ConNextions, NextTrip’s alternative lodging rental booking engine, with several key distribution partners. We released several new features for NextTrip Business, our corporate travel management and booking solution for small and medium-sized businesses, including travel delegate, which allows a traveler to assign someone to book on their behalf. Additionally, with the travel industry recovery continuing to be driven by leisure travel, we have accelerated the development of new leisure products under the NextTrip Journeys brand, which we expect will better position NextTrip in several travel categories to capture increased bookings.

“The $30 million equity offering we completed in November 2021 fortified our balance sheet and supported our many growth initiatives, as well as allowed us to significantly deleverage the company; we paid back a significant portion of the high-interest loans. We continue to put an ongoing effort towards eliminating redundant systems and processes due to recent acquisitions. Our goal is to reduce our monthly burn by at least 30% by third quarter. We are focused on reductions in SG&A expenses and progression to positive cash flow by the end of the second half of fiscal 2023. 

“With the support of our shareholders, we have completed our previously announced acquisition of certain game-industry intellectual property from Fighter Base Publishing Inc. and certain distributed ledger intellectual property from Token IQ Inc. Both entities were majority-owned by NextPlay’s Chief Technology Officer, Mark Vange, who is a visionary leader in both industries.

“We have already begun to implement Token IQ’s technology to our products and services, from our Longroot asset-based cryptocurrencies, our digital insurance tokens and HotPlay in-game tokens, to future NextBank fintech services.  Fighter Base Publishing’s AI-driven animation technology has been adopted to accelerate the game production cycle, and we have separately established a dedicated team to further develop this AI technology to cover the appearance of the advertising content within the virtual world, cross-platform games and Metaverses, to ensure proper presentation of the advertising content in the right place at the right time and, most importantly, in the right form, i.e. in 2D, 3D and/or animated objects.  

“This coming fiscal 2023, we expect to be exceptionally well-positioned for growth across our ecosystem. We see near-term revenue growth and margin expansion being further fueled by new HotPlay and NextBank deployments, and we believe that these developments should steadily advance us toward strong cash flow and profitability.” 

Fiscal Q4 2022 Financial Summary

Revenue for the fourth quarter of fiscal 2022 totaled $1.4 million, a decrease of 67% from $4.2 million in the previous quarter and compares very favorably to no revenue in the same year-ago quarter. The quarter over quarter decrease was primarily due to certain reclassification from revenue to other operating income.

NextMedia, the company’s digital interactive media division, contributed revenue of $0.5 million, driven by organic growth of digital media globally. The company’s NextFinTech division contributed revenue of $0.9 million, and the NextTrip travel division contributed revenue of $38,000. 

Operating expenses totaled $8.7 million, compared to $0.6 million in the same year-ago period. The increase was primarily due to legal, consulting, and professional fees related to certain pre-operating activities and employee expenses in the period.

Net loss attributable to the Company was $19.7 million, or $(0.27) per basic and diluted share, as compared to a net loss of $0.5 million, or $(3.70) per basic and diluted share, in the same year-ago period, which only represented HotPlay’s financials per accounting standard.

Fiscal Year 2022 Financial Summary

Revenue for the full year of fiscal 2022 totaled $8.2 million compared to no revenue in fiscal 2021.

NextMedia, the company’s digital interactive media division, contributed revenue of $6.5 million. The company’s NextFinTech division contributed revenue of $1.6 million, and the NextTrip travel division contributed revenue of $0.2 million. 

Consolidated gross profit totaled $5.9 million, or 71% of revenue, as compared to none in the same period a year ago.

Operating expenses totaled $26.5 million, compared to $1.0 million in the same year-ago period, which only represented HotPlay’s financials per accounting standard. The increase was primarily due to business acquisitions, legal, consulting, and professional fees related to certain pre-operating activities and employee expenses in this fiscal year.

Net loss before tax and share of non-controlling interest is $40.4 million, of which $19.7 million are other expenses primarily related to asset impairments, valuation/credit losses, and interest. Net loss attributable to the Company was $38.0 million, or $(0.40) per basic and diluted share, as compared to a net loss of $1.2 million, or $(0.02) per basic and diluted share in the same year-ago period, which only represented HotPlay’s financials per accounting standard.

Cash and cash equivalents as of February 28, 2022, totaled $6.6 million.

The company’s annual report for the year ended February 28, 2022, and other reports the company files with the SEC, including reports on Forms 10-Q, 10-K and 8-K, can be accessed at sec.gov and on NextPlay’s website in the IR section.

About NextPlay Technologies 

NextPlay Technologies, Inc. (Nasdaq: NXTP) is a technology solutions company offering games, in-game advertising, crypto-banking, connected TV and travel booking services to consumers and corporations within a growing worldwide digital ecosystem. NextPlay’s engaging products and services utilize innovative AdTech, Artificial Intelligence and Fintech solutions to leverage the strengths and channels of its existing and acquired technologies. For more information about NextPlay Technologies, visitwww.nextplaytechnologies.com and follow us on Twitter @NextPlayTech andLinkedIn.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including “will,” “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties including, and not limited to, our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; amounts owed to us by fourth parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets and penalties we may incur in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; our revenues and results of operations being subject to the ability of our distributors and partners to integrate our alternative lodging rental (ALR) properties with their websites, and the timing of such integrations; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our travel business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot and NextBank International (formerly IFEB); the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by NextPlay are detailed from time to time in NextPlay’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by fourth parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

SOURCE: NextPlay Technologies, Inc.

Company Contacts:

Richard Marshall

Director of Corporate Development

NextPlay Technologies, Inc.

Tel (954) 888-9779

Email: [email protected]

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Artificial Intelligence

Actuators Market worth $94.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, March 29, 2024 /PRNewswire/ — The Actuators market is estimated at USD 67.7 billion in 2024 and is projected to reach USD 94.8 billion by 2029, at a CAGR of 7.0 % from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth can be attributed to growing industrial automation and use of robots in various sectors like manufacturing and transportation, Developments in areas like sensor technology, connectivity, and control systems, The increasing demand for actuators is fueled by the expansion of sectors like healthcare (medical devices), oil & gas, and aerospace & defense, and the need for improved process control, energy efficiency, and safety regulations in various industries.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=59465451
Browse in-depth TOC on “Actuators Market” 300 – Tables175 – Figures350 – Pages
Actuators Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 67.7 billion
Estimated Value by 2029
$ 94.8 billion
Growth Rate
Poised to grow at a CAGR of 7.0%
Market Size Available for
2019–2028
Forecast Period
2023–2028
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Actuation, Application, Type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Issues of leakage in pneumatic and hydraulic actuators
Key Market Opportunities
Increased spending on renewable sources of energy for power generation
Key Market Drivers
Rapid industrialization and utilization of robotics
The Electric segment held the largest growth rate in the Actuators market by actuation.
By actuation, the Actuators market has been segmented into electric, hydraulic, pneumatic, and others. electric Segment to hold the highest growth rate during the forecast period. Electrical actuators use electricity to produce motion. These actuators can be further classified into solenoid actuators and motor-driven actuators. A solenoid used in an electric actuator works on the principle of electromagnetism. Electrical actuators provide control and acceleration at higher speeds. The force for applying thrust can be managed without the requirement for compressed air and the related infrastructure, and hence the total energy consumption in these actuators is lower. Electrical actuators can be used for various applications where linear as well as rotary actuation is required. They can be used for low torque as well as high torque requirements.
The vehicle equipment segment is expected to account for the largest share of Actuators by application in 2024.
By application, the Actuators industry is segmented into industrial automation, robotics, and vehicle equipment. The vehicles and equipment segment includes actuators used in automotive, aircraft, ships, and defense vehicles. These can be either hydraulic, pneumatic, electrical, or mechanical actuators. Actuators are widely used in various systems and sub-systems of an automobile, aircraft, ships as well as defense vehicles.
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Asia Pacific accounts for the largest market share in 2024.
The Actuators market has been studied in North America, Europe, Asia Pacific, Middle East, and Rest of the World. The Asia Pacific region accounts for the largest market share in 2024 as well as throughout the forecast period due to the increasing demand for actuators in the region to enhance the growth of the market. India is expected to show the highest growth rate in Asia Pacific Region for Actuators market.
Major players operating in the Actuators companies are SMC Corporation (Japan), Rockwell Automation (US), Curtiss-wright Corporation (US), ABB Ltd (Switzerland), and Parker Hennifin Corporation (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=59465451
Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting
Related Reports: 
Aircraft Sensors Market Size, Share & Growth Analysis Report by Aircraft Type (Fixed-wing, Rotary-wing, UAVs, AAM), Application (Engine, Aerostructures, Fuel & Hydraulic, Cabin), Sensor Type, End Use (OEM, Aftermarket), Connectivity (Wired, Wireless) and Geography- Global Forecast to 2027
Military Actuators Market by Application (Air, Land, Naval), System (Electrical, Hydraulic, Pneumatic, Mechanical), Component (Cylinders, Drives, Servo Valves, Manifolds), Type (Linear, Rotary), and Region (2019-2024)
Aircraft Actuators Market Size, Share & Industry Growth Analysis Report by Installation Type (OEM & Aftermarket), System, Technology (Hydraulic, Electric Hybrid, Mechanical, Pneumatic, and Full Electric), Type, Platform, Aircraft Type (Fixed Wing and Rotary Wing) and Region – Global Forecast to 2027
Aircraft Engine Market Size, Share & Industry Growth Analysis Report by Type (Turboprop, Turbofan, Turboshaft, Piston Engine), Platform (Fixed wing, Rotary Wing, UAV), Component (Compressor, Turbine, Gear Box, Exhaust Nozzle, Fuel System), Technology, and Global Growth Driver and Industry Forecast to 2026
Avionics Market by Platform (Military Aviation, Commercial Aviation, General Aviation, Special Mission Aviation), Fit, Systems and Region (North America, Europe, Asia Pacific, Middle East and Rest of the World) – Global Forecast to 2030
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
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.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Aashish MehraMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/global-actuators-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/global-actuators.asp
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Artificial Intelligence

Roborock Unveils Global No.1 Robotic Vacuum Cleaner Sales Ranking at International Launch Event

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Certified by Euromonitor, Roborock attributes its rise to the top to embracing a long-term mindset while upholding customer-centric innovation above all else
BEIJING, March 29, 2024 /PRNewswire/ — Roborock, a global leader in ultra-intelligent home robotics engineered to simplify daily life, today announced it has taken the number one spot for robotic vacuum sales worldwide, according to new data by Euromonitor. Celebrating its achievements at a global launch event on the eve of its 10-year anniversary, the brand also revealed a glimpse of what is to come in the form of new product lines while sharing its vision for the future.

Founded in 2014, Roborock owes its success to its long-standing commitment to customer-centric innovation. By delivering meaningful solutions which improve everyday lives, Roborock has built a truly global fanbase, with Euromonitor data confirming that the brand has achieved the number 1 sales position worldwide for robotic vacuum cleaners[1].
“We are so honored to be celebrating this achievement with you all, which was made possible thanks to the ongoing trust and support received over the last 10 years.” Mr. Quan, Roborock President, announced, “Our path to success has been a marathon, not a sprint, as we have always kept in view our brand spirit of “taking the long view in order to do the right thing”. Our unwavering commitment to focusing on delivering true value to our customers is how we have built the brand affinity that has gotten us where we are today – firmly on our way to becoming a global leader in the smart home space.”
Steppingstones on the Path to Success: Roborock Achieves Steady Market Growth on Journey to Become a Global Leading Home Appliance Brand
Further cementing its global success story, the brand also revealed impressive results in many of its key markets. Roborock is now present in over 170 countries, serving over 15 million homes worldwide. According to data from IDC, Roborock ranks number one in Turkey and number two in the US in terms of sales, while also taking the top spot in Germany, Korea, and the Nordics in terms of shipments in 2023[2]. As revealed by Roborock’s latest Financial Earnings Report, the brand recorded a total revenue of 8.65 billion Yuan last year (US$1.22 billion), with total robot vacuum shipments surpassing 2.6 million units. Roborock’s overseas operation recorded revenue growth of 21.42% compared to the prior year and Roborock’s net profit was listed at 2.05 billion Yuan (US$288 million), achieving an overall annual growth rate of 73.32%. This consistent growth across all key markets demonstrates Roborock’s strategic choice to directly address consumer demands and striving for excellence across user experience is resonating with millions worldwide.
Despite these successes, Mr. Quan acknowledged these results were not in themselves the ultimate end goal. Globalization is a vital pillar of Roborock’s mission to become a leader in its field. As such, Roborock plans to expand its global footprint by introducing more innovative products that cater to the unique needs of global users, taking into account the different requirements of various markets, and extending more partnerships worldwide, ensuring that Roborock makes strides overseas on a larger scale and at a faster pace.
Meaningful Innovation: Roborock’s User-Centric R&D Principles and Latest Revolutionary Developments
Roborock’s passion to create value for its consumers propels them to continuously seek out new technological advancements that can serve real consumer pain points. From 2019 to 2023 Roborock invested 1.9 billion Yuan (260 million USD) in Research and Development. Roborock’s approach to take the long term view, ensures R&D teams are encouraged not to seek quick fixes, but to focus on innovation that will truly serve the needs of the end consumer, such as addressing key areas like cleaning capabilities, mapping and navigation, convenience and smart home interconnectivity.
Enhancing the cleaning capabilities of its latest range, Roborock has introduced the FlexiArm Design™ Side Brush, a stretching side brush delivering 100% corner cleaning coverage – elevating the user experience. When it comes to user satisfaction, delivering a low-maintenance, hands-free experience is also paramount. Roborock recently introduced an auto water refill and drainage system, which automatically emptying and replacing dirty water with clean water through pipes during mop washing and tank refilling.
Aside from advanced hardware solutions, Roborock has always invested heavily in the discovery and implementation of emerging technologies that can enhance the functionality and accessibility of its devices. Roborock’s Reactive AI 2.0 Obstacle Recognition technology can recognize and differentiate between floor and room types, accurately identifying 73 different obstacles to navigate, including floor mirrors and pet supplies. Roborock SmartPlanTM function uses an advanced AI algorithm to intelligently plan and optimize cleaning paths and settings based on user habits and specific home layout, making the cleaning process even more intelligent and efficient. The S8 MaxV Ultra is now certified by CSA for Matter, and other Roborock products will follow in the near future suit to enhance connectivity.
Enriching Roborock’s Product Portfolio to Enhance the Quality of Life for Consumers
Concluding the exciting launch, Roborock unveiled three exciting new product lines to its portfolio of intelligent automated devices. Roborock’s product managers took to the stage to introduce three new robotic vacuums – the G20S (S8 MaxV Ultra), V20 and P10S Pro. 
The G20S (S8 MaxV Ultra) launched to great acclaim at CES 2024 and is Roborock’s most technologically advanced one-stop cleaning solution to date. A highly intuitive device, the G20S is equipped with FlexiArm Design™ Side Brush, a unique robotic arm that enables complete corner cleaning capabilities, and an extra side mop for edge cleaning, alongside Reactive AI 2.0 obstacle recognition, built-in intelligent voice assistant, and RockDock® Ultra which automatically maintains the robot cleaner using hot water and heated air with intelligent mop re-washing and re-mopping capabilities. The G20S (S8 MaxV Ultra) will be available to purchase globally from April, retailing for USD 1799.99 / EURO 1499.
Initially debuting in China, the V20 will be the world’s first robotic vacuum cleaner equipped with dual-vision 3DToF solid-state LiDAR navigation and obstacle avoidance system, which observes the reflection of modulated light to offer better depth accuracy for even more intuitive floor mapping. With an ultra-thin 8.2cm body and equipped with FlexiArm DesignTM corner and edge cleaning, DuoRoller Riser Brush, and maintenance-free cleaning dock, the V20 is set to redefine automated, low maintenance cleaning.
Finally, the P10S Pro is positioned as the perfect partner for those hard-to-reach spots. Combining FlexiArm DesignTM with an extendable side brush and mop, the device provides 100% corner coverage and the ultimate in edge-cleaning, taking even the trickiest surfaces in its stride.
These solutions further solidify Roborock’s commitment to satisfying the needs of its customers in its fearless pursuit of innovation. Stay tuned for further market specific launch announcements of these innovations and more. 
About Roborock
Roborock is committed to innovation in researching, developing, and producing home cleaning devices, particularly robotic, cordless, and wet/ dry vacuum cleaners. Every Roborock product has been designed with an eye on solving genuine problems, so Roborock customers can live better lives. Currently, Roborock is available in more than 40 countries, including the U.S., Germany, France, and Spain. The company operates out of four locations, with offices in Beijing, Shanghai, Shenzhen, and Hong Kong. For more information visit https://global.roborock.com/.
[1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.
[2] Data based on IDC Quarterly Smart Home Device Tracker, 2023 Q4. Rankings for the US and Turkey are based on sales value, while rankings for Germany, the Nordic countries (Denmark, Finland, Norway, Sweden), and Korea are based on shipment volume
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Cato Shatters SASE Speed Record

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Cato doubles throughput without any hardware upgrades, underscoring the value of a fully cloud-native platform.
TOKYO, March 29, 2024 /PRNewswire/ — Cato Networks, the SASE leader, announced a new SASE throughput record here at the Porsche Studio Ginza ahead of the 2024 Tokyo E-Prix, achieving 10 Gbps without hardware upgrades. At 10 Gbps, Cato became the first SASE platform to compete not only in the ABB FIA Formula E World Championship but also to deliver SASE performance so powerful that the TAG Heuer Porsche Formula E Team could transfer all the data of an entire Formula E season in under 2.5 hours instead of 3.5 days.

“We’re very excited to be partnering with the TAG Heuer Porsche Formula E Team at the 2024 Tokyo E-Prix,” says Shlomo Kramer, CEO and co-founder of Cato Networks. “The incredible speeds of the Gen3 racecars are only matched by the unprecedented throughput of Cato SASE Cloud. With 10 Gbps, we enable enterprises to replace their data center firewalls and enjoy all the benefits of a true, cloud-native SASE platform.”
Cato SASE Speed Record Up to 3x Other SASE Solutions on the Grid
As SASE continues its upmarket movement, higher capacity connections become essential for meeting various business needs such as bandwidth-intensive applications (cloud storage and backup, disaster recovery), hybrid clouds connecting two parts of the data center for inter-application processing, and large campuses.
To meet those challenges, Cato is introducing 10 Gbps throughput on a single, encrypted tunnel. The doubling of Cato Cloud Interconnect and Cato Socket performance comes without costly hardware upgrades, typical of appliance-based architectures. Compute-intensive operations that usually degrade edge appliance performance — packet encryption/decryption, security inspection, and the like — are handled by multiple Cato Single Pass Processing Engine (SPACE) cores, concurrently processing real-time traffic within Cato PoPs (Points of Presence). Parallel network flow processing is also enabled within the Cato Socket to maximize throughput end-to-end.
By contrast, SASE solutions implemented as virtual machines (VMs) in the cloud or modified web proxies remain limited to under 2 Gbps of throughput for a single tunnel. Appliance-based SASE
solutions top out at just under 3 Gbps. The lower throughputs force enterprises to artificially split traffic within locations across multiple tunnels from the edge appliance to the SASE PoP, a layer of complexity and risk that does not exist in Cato SASE Cloud.
Tokyo: A Place for Fast Cars and Fast Networks
The 2024 Tokyo E-Prix is the perfect venue to highlight Cato’s breakthrough performance. In the fast-paced world of Formula E, every second counts. The sport is intensively data-driven, where teams rely on their IT networks to analyze data and make critical, split-second strategy decisions to achieve a winning edge. Multiple computers in the car produce 100 to 500 billion data points per event, with more than 400 gigabytes of data generated and sent back to the cloud for analysis.
With 16 E-Prix this season, many in regions lacking Tokyo’s developed infrastructure, the ABB FIA Formula E Word Championship presents an incredible networking and security stress test. Cato SASE Cloud provides fast, secure, and reliable access to the TAG Heuer Porsche Formula E Team, regardless of location.
Tokyo, Osaka, and soon Sapporo form the three PoP locations within Japan. Within Tokyo, three Cato PoPs service the region; another two PoPs service Osaka. A sixth PoP is opening in Sapporo. Should users or locations lose access to any one PoP, they would immediately fail over to one of the other PoPs in Japan, providing the TAG Heuer Porsche Formula E Team and all Cato customers with incredibly reliable access in Tokyo – and across the globe.
To learn more about Cato SASE Cloud, visit us at https://www.catonetworks.com/platform/
To learn more about Cato’s partnership with the TAG Heuer Porsche Formula E Team, visit us at https://www.catonetworks.com/porsche-formula-e-team/.
About Cato Networks
Cato Networks is the leader in SASE, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com.

View original content:https://www.prnewswire.co.uk/news-releases/cato-shatters-sase-speed-record-302101273.html

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