Artificial Intelligence

Cemtrex Reports Third Quarter 2022 Financial Results

Published

2 years ago

August 15, 2022

Brooklyn, NY, Aug. 15, 2022 (GLOBE NEWSWIRE) — – Cemtrex Inc. (NASDAQ: CETX, CETXP), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has reported its financial and operational results for the third quarter ended June 30, 2022.

Key Third Quarter 2022 and Subsequent Highlights

Revenue increased 32% to $13.6 million compared to $10.3 million in Q3’21, marking third straight quarter of increasing revenue.
Q3 gross margin up 310 basis points to 43% in Q3’22 from 40% in the prior year quarter and up from 32% in Q2’ 22.
Net Income was a $983,491 loss for the third quarter FY 22, compared to a $5,082,222 loss in the second quarter FY 22, achieving approximately a $4.1 million reduction in expenses over those sequential periods.
Announced a strategic shift towards prioritizing its core businesses, in particular Vicon Industries, its security technology brand to maximize shareholder value, drive long term growth, and profitability. In conjunction with the strategy shift to bolster its Advanced Technologies segment, Cemtrex is exploring the divestiture of one or more business units to support its refocus.

Management Commentary

Cemtrex Chairman and CEO, Saagar Govil, commented on the results: “Along with third straight quarter and year over year improving revenues, the third quarter of 2022 was highlighted by continued quarterly improvement in our Advanced Technologies and Industrial Services segments due to increased demand for our products and services. During the quarter we continued to make significant progress in our strategic shift toward refocusing efforts on our core businesses Vicon Industries and AIS going forward. We believe Vicon can move towards $5-10 million of recurring revenue in the next three to five years as a global leader in advanced security and surveillance technology to safeguard businesses, schools, municipalities, hospitals and cities across the world. Vicon is seeing growing demand for its video surveillance and access control technologies as the industry is rapidly shifting to SaaS solutions leveraging AI and cloud technology solutions for today’s highly dynamic environment.

“To support Vicon’s growth, we recently appointed Haim Shain as Senior Vice President of Product Management at Vicon, a dynamic and accomplished leader in the surveillance industry. In this new role, Shain will oversee the strategy and implementation behind Vicon’s expanding product line, from our award-winning Roughneck® surveillance cameras and VAX access control system, to our centralized video management platform, Valerus™ VMS. Under his leadership, Vicon’s product teams will further drive innovation, including cloud-based video management and AI-enabled video analytics solutions.

“Growth driven by an increase in demand for predictive maintenance services and the rise in the complexity of equipment is driving demand for AIS, our single source industrial contractor and premier provider of industrial contracting services including millwrighting, rigging, piping, electrical, welding. With its strong balance sheet empowering the ability to offer more comprehensive services due to inventory of equipment, we believe the company has enormous untapped potential in the industrial services market.

“For Cemtrex, we continue to evaluate a range of operational and financial alternatives including the sale of one or more of the company’s non-core business units. During the quarter we addressed rising costs by increasing prices and reducing overhead where possible. These steps helped to improve gross margins from 32% in the second quarter of 2022 to 43% in the third quarter. Our operating loss came down sequentially in the second quarter due to increased sales, but we see opportunity to reduce overhead in certain areas and plan to do so in the coming months to drive better financial results.

“Looking ahead, we remain focused on disciplined top line growth with room for further gross margin improvement to drive towards positive EBITDA in FY 23. We continue to make strategic investments in our sales and marketing program, ongoing research and development, and advancing our technology partnerships. Vicon is on track to launch a proprietary AI based analytics solution early next year as well as major improvements to its core software platform Valerus, which will further drive growth. We continue to work to position the Company for long-term growth and refocus efforts on our core businesses, which we believe will provide long term value for our shareholders,” concluded Govil.

Third Quarter 2022 Financial Results

Revenue for the three months ended June 30, 2022, and 2021 was $13.6 million and $10.3 million, respectively, an increase of 32%. Revenue for the nine months ended June 30, 2022, and 2021 was $37.0 million and $28.4, respectively, an increase of 30%. This increase is mainly due to an increased demand for the Company’s products and services. The Advanced Technologies segment revenues for the three months ended June 30, 2022, increased by 40% to $8.2 million, and the Industrial Services segment revenues for quarter increased by 22%, to $5.5 million.

Gross Profit for the third quarter of 2022 was $5.9 million, or 43% of revenues as compared to gross profit of $4.1 million, or 40% of revenues for the year ago period, and compared to 32% in the second quarter of FY 2022. Gross profit increased primarily due to price increases implemented throughout the Company in response to rising costs of goods and transportation costs.

The Operating loss for the for three months ended June 30, 2022, was $2.1 million, compared to $3.8 million in the second quarter ended March 31^st, 2022, a reduction of $1.7 million or 45%.

Operating activities for continuing operations used $10.4 million for the nine months ended June 30, 2022, compared to using $6.2 million of cash for the nine months ended June 30, 2021.

Net loss for the quarter ended June 30, 2022, was $0.7 million, as compared to a net income of $1.1 million in 2021. Net loss increased in the first quarter as compared to the same period last year primarily due to costs of revenues and operating expenses.

Cash and cash equivalents totaled $11.1 million at June 30, 2022, as compared to $15.4 million at September 30, 2021.

Third Quarter 2022 Results Conference Call

Cemtrex Chief Executive Officer Saagar Govil and Chief Financial Officer Paul Wyckoff will host the conference call, followed by a question-and-answer period.

To access the call, please use the following information:

Date:	Monday August 15, 2022
Time:	5:00 p.m. Eastern time, 2:00 p.m. Pacific time
Toll-free dial-in number:	1-844-826-3033
International dial-in number:	1-412-317-5185
Conference ID:	10170222

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1563547&tp_key=b5b432ffa7 and via the investor relations section of the Company’s website at www.cemtrex.com.

A replay of the conference call will be available after 8:00 p.m. Eastern time through August 29, 2022.

Toll-free replay number:	1-844-512-2921
International replay number:	1-412-317-6671
Replay ID:	10170222

About Cemtrex

Cemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including but not limited to consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of an offering, gross proceeds from an offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.

Cemtrex, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets


	(Unaudited)
	June 30,			September 30,
Assets		2022			2021
Current assets
Cash and equivalents	$	11,442,487		$	15,426,976
Restricted cash		1,518,720			1,759,347
Short-term investments		280,571			14,981
Trade receivables, net		7,564,382			7,810,896
Trade receivables – related party		1,472,514			1,487,155
Inventory –net of allowance for inventory obsolescence		8,458,530			5,657,287
Prepaid expenses and other assets		2,407,116			2,585,652
Total current assets		33,144,320			34,742,294

Property and equipment, net		6,239,239			6,738,944
Right-of-use assets		2,641,960			2,940,127
Goodwill		7,821,283			7,821,283
Other		1,356,766			697,240
Total Assets	$	51,203,568		$	52,939,888


Liabilities & Stockholders’ Equity (Deficit)
Current liabilities
Accounts payable	$	5,401,538		$	4,235,002
Short-term liabilities		17,146,234			9,977,972
Lease liabilities – short-term		819,488			830,791
Deposits from customers		113,106			536,220
Accrued expenses		1,176,787			1,621,053
Deferred revenue		2,594,517			2,004,170
Accrued income taxes		141,465			448,194
Total current liabilities		27,393,135			19,653,402

Long-term liabilities
Loans payable to bank		141,239			767,279
Long-term lease liabilities		1,799,002			2,017,408
Notes payable		228,893			2,350,000
Mortgage payable		2,184,404			2,257,785
Other long-term liabilities		825,629			839,171
Paycheck Protection Program Loans		97,120			1,032,200
Deferred Revenue – long-term		584,003			467,967
Total long-term liabilities		5,860,290			9,731,810

Total liabilities		33,253,425			29,385,212

Commitments and contingencies		–			–

Shareholders’ equity
Preferred stock , $0.001 par value, 10,000,000 shares authorized,
Series 1, 3,000,000 shares authorized, 2,079,122 shares issued and
2,015,022 shares outstanding as of June 30, 2022 and 1,885,151 shares issued and
1,821,051 shares outstanding as of September 30, 2021 (liquidation value of $10 per share)		2,079			1,885
Series C, 100,000 shares authorized, 50,000 shares issued and outstanding at
June 30, 2022 and September 30, 2021		50			50
Common stock, $0.001 par value, 50,000,000 shares authorized,
26,263,296 shares issued and outstanding at June 30, 2022 and
20,782,194 shares issued and outstanding at September 30, 2021		26,263			20,782
Additional paid-in capital		66,522,085			61,727,834
Retained earnings (accumulated deficit)		(51,788,053	)		(41,908,062	)
Treasury stock at cost		(148,291	)		(148,291	)
Accumulated other comprehensive income (loss)		2,555,441			2,896,452
Total Cemtrex stockholders’ equity		17,169,574			22,590,650
Non-controlling interest		780,569			964,026
Total liabilities and shareholders’ equity	$	51,203,568		$	52,939,888

Cemtrex, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss)
(Unaudited)

				For the three months ended							For the nine months ended
	June 30, 2022				June 30, 2021			June 30, 2022				June 30, 2021

Revenues		13,630,846				10,326,431			37,031,550				28,422,892
Cost of revenues		7,754,490				6,198,715			23,233,389				16,360,822
Gross profit		5,876,356				4,127,716			13,798,161				12,062,070

Operating expenses
General and administrative		6,948,959				5,670,019			20,318,196				16,337,200
Research and development		1,048,246				757,966			3,474,674				2,033,688
Total operating expenses		7,997,205				6,427,985			23,792,870				18,370,888
Operating income/(loss)		(2,120,849	)			(2,300,269	)		(9,994,709	)			(6,308,818	)

Other income/(expense)
Other income/(expense)		2,072,265				3,901,658			3,337,365				6,532,590
Settlement Agreement – Related Party		–				–			–				3,674,165
Interest Expense		(931,059	)			(433,009	)		(3,654,045	)			(1,891,026	)
Total other income/(expense), net		1,141,206				3,468,649			(316,680	)			8,315,729

Net loss before income taxes		(979,643	)			1,168,380			(10,311,389	)			2,006,911
Income tax benefit/(expense)		247,941				(40,759	)		247,941				(168,190	)
Net income/(loss)		(731,702	)			1,127,621			(10,063,448	)			1,838,721

Less loss in noncontrolling interest		(50,909	)			29,608			(183,457	)			(20,813	)
Net income/(loss) attributable to Cemtrex, Inc. shareholders	$	(680,793	)		$	1,098,013		$	(9,879,991	)		$	1,859,534

Other comprehensive income/(loss)
Net income/(loss)	$	(731,702	)		$	1,127,621		$	(10,063,448	)		$	1,838,721
Foreign currency translation loss		(200,880	)			(193,554	)		(341,011	)			(234,045	)
Defined benefit plan actuarial gain		–				–			–				87,895
Comprehensive income/(loss)		(932,582	)			934,067			(10,404,459	)			1,692,571
Less comprehensive loss attributable to noncontrolling interest		50,909				(35,731	)		183,457				14,524
Comprehensive income/(loss) attributable to Cemtrex, Inc. shareholders	$	(983,491	)		$	969,798		$	(10,587,916	)		$	1,678,047


Income/(loss) Per Share-Basic	$	(0.03	)		$	0.06		$	(0.41	)		$	0.10
Income/(loss) Per Share-Diluted	$	(0.03	)		$	0.06		$	(0.41	)		$	0.10

Weighted Average Number of Shares-Basic		25,777,704				18,711,463			24,316,527				18,368,274
Weighted Average Number of Shares-Diluted		25,777,704				18,711,463			24,316,527				18,368,274

Cemtrex, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows
(Unaudited)

				For the nine months ended
				June 30,
Cash Flows from Operating Activities		2022				2021

Net income/(loss)	$	(10,063,448	)		$	1,838,721

Adjustments to reconcile net income/(loss) to net cash used by operating activities
Depreciation and amortization		1,346,383				972,186
Loss on disposal of property and equipment		161,814				18,583
Noncash lease expense		615,354				653,175
Change in allowance for doubtful accounts		(7,584	)			(161,101	)
Share-based compensation		111,402				110,904
Income tax expense/ (benefit)		(247,941	)			168,190
Interest expense paid in equity shares		1,627,046				818,348
Accrued interest on notes payable		635,001				64,748
Amortization of original issue discounts on notes payable		908,333				575,000
Gain on marketable securities		(2,234,478	)			(2,407,841	)
Discharge of Paycheck Protection Program Loans		(971,500	)			(3,349,700	)
Settlement Agreement – Related Party		–				(3,674,165	)

Changes in operating assets and liabilities net of effects from acquisition
of subsidiaries:
Accounts receivable		254,098				1,613,682
Accounts receivable – related party		14,641				(78,594	)
Inventory		(2,801,243	)			(1,875,591	)
Prepaid expenses and other current assets		178,536				(976,050	)
Other assets		(159,526	)			149,778
Other liabilities		(13,542	)			15,019
Accounts payable		1,166,536				30,327
Operating lease liabilities		(546,896	)			(650,535	)
Deposits from customers		(423,114	)			9,567
Accrued expenses		(444,266	)			(78,851	)
Deferred revenue		706,383				124,637
Income taxes payable		(58,788	)			(88,987	)
Net cash used by operating activities		(10,246,799	)			(6,178,550	)

Cash Flows from Investing Activities
Purchase of property and equipment		(1,003,121	)			(1,113,658	)
Proceeds from sale of property and equipment		51,262				–
Investment in MasterpieceVR		(500,000	)			(500,000	)
Investment in related party		–				(1,075,428	)
Proceeds from sale of marketable securities		12,182,932				9,134,159
Purchase of marketable securities		(10,214,044	)			(6,290,747	)
Net cash used by investing activities		517,029				154,326

Cash Flows from Financing Activities
Proceeds from notes payable		8,000,000				–
Payments on notes payable		(1,176,763	)			(2,145,257	)
Payments on capital lease liabilities		–				(20,061	)
Payments on bank loans		(920,939	)			(957,186	)
Proceeds from Paycheck Protection Program Loans		–				2,942,285
Net cash provided/(used) by financing activities		5,902,298				(180,219	)

Effect of currency translation		(397,644	)			(386,160	)
Defined benefit plan actuarial gain/(loss)		–				87,895
Net decrease in cash, cash equivalents, and restricted cash		(3,827,472	)			(6,204,443	)
Cash, cash equivalents, and restricted cash at beginning of period		17,186,323				21,072,859
Cash, cash equivalents, and restricted cash at end of period	$	12,961,207			$	14,570,151

Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash
Cash and equivalents	$	11,442,487			$	12,879,278
Restricted cash		1,518,720				1,690,873
Total cash, cash equivalents, and restricted cash	$	12,961,207			$	14,570,151

Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	$	483,665			$	432,930

Cash paid during the period for income taxes	$	306,729			$	88,765

Supplemental Schedule of Non-Cash Investing and Financing Activities
Investment in Virtual Driver Interactive	$	–			$	439,774
Stock issued to pay notes payable	$	3,993,124			$	2,187,837
Shares issued in connection with note payable	$	700,400			$	–
Financing of right of use assets	$	317,187			$	–

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

Published

19 hours ago

September 27, 2024

CISION (PR Newswire)

how-aiot-shapes-the-future-of-mobility:-hikvision-at-its-world-congress-2024

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

23 hours 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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177013645
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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Artificial Intelligence

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

Published

23 hours 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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