Artificial Intelligence

Alarum Recorded First-Ever Positive Cashflow from Operating Activities with Record Revenues in the First Quarter of 2023

Published

1 year ago

May 30, 2023

Revenues climbed to $5.7 million, up 41% compared to the first quarter of 2022;
Net loss dropped to $0.7 million (Q1.2022: a net loss of $4.7 million);
Positive Adjusted EBITDA of $0.06 million (Q1.2022: Adjusted EBITDA loss of $3.2 million)

TEL AVIV, Israel, May 30, 2023 (GLOBE NEWSWIRE) — Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of enterprise and consumers internet access solutions, today announced record financial results for the three months ended March 31, 2023.

Key Financial Highlights for the First Quarter of 2023:

Revenues climbed to a record high of $5.7 million, an increase of approximately 41% compared to the first quarter of 2022.
Net loss decreased by 85% to $0.7 million, compared to a net loss of $4.7 million during the first quarter of 2022.
Achieved positive cashflow from operating activities, and Adjusted EBITDA, for the first time, of $0.06 million, up from an Adjusted EBITDA loss of $3.2 million in the first quarter of 2022.
NetNut Ltd. (“NetNut”), the Company’s internet access arm for business and enterprise customers, became profitable for the first time.

“I am incredibly proud of the entire Alarum team for their contributions to the generation of cashflow from our operating activities and the first-ever positive Adjusted EBITDA this quarter, alongside our ninth consecutive quarter of revenue growth. We’ve significantly improved our revenue stream, our net loss and the Adjusted EBITDA compared to the previous year as well as the prior quarter. Our key metrics, both financial and non-financial, are moving in the right direction and aligning with our strategic vision. As our enterprise access solutions continue to scale, we believe that we are well positioned for continuous success,” said Mr. Shachar Daniel, Chief Executive Officer of Alarum.

“Achieving positive cash flow from our operating activities is a significant milestone for Alarum, especially when accompanied by continuously sustaining substantial growth. We believe this is a strong indicator of the financial success of our core business activities. With another solid quarter behind us and sufficient financial resources to support our growth initiatives, we believe that we remain on path to profitability. Our results showcase our ability to drive revenue growth while maintaining operational efficiency, ultimately creating value for our stakeholders,” concluded Mr. Daniel.

Mr. Chen Katz, the Company’s chairman of the board of directors, added, “We began fiscal year 2023 with a solid foundation, delivering robust top-line growth, primarily by expanding sales of our value-added products. We are also demonstrating operational leverage as we maintain cost discipline across the organization and invest wisely to fuel further growth. The impressive results achieved by Alarum are a testament of the successful efforts by our talented leading teams, and I have full confidence in the Company’s ability to continue to thrive.”

First Quarter of 2023 Operational Highlights and Recent Business Developments:

NetNut experienced surging demand and rapid adoption in Asia, with monthly subscriptions tripling
NetNut Announced launch of a new white-label consumer internet access privacy solution
NetNut expanded into the retail artificial intelligence (“AI”) market, securing its first customer for digital technologies and analytics solutions
CyberKick Ltd., the Company’s Consumer Internet Access subsidiary, extended its $2.0 million revolving line of credit agreement with United Mizrahi-Tefahot Bank Ltd., to support consumer privacy solutions operations, through May 25, 2024
Further to Alarum’s February 22, 2023, announcement regarding an investigation into potential illegal short selling of the Company’s American Depository Shares, the Company continues to assess suspicious trading activity and will take appropriate corrective actions if necessary

Financial Results for the Three Months Ended March 31, 2023:

Revenues amounted to $5.7 million (Q1.2022: $4.0 million). The growth is attributed to the organic increase in the enterprise access business revenues.
Cost of revenues totaled $1.9 million (Q1.2022: $1.9 million). The additional costs for resources in the enterprise internet access business were offset by lower user acquisition costs in the consumer internet access business and lower amortization of intangible assets.
Research and development expenses totaled $1.1 million (Q1.2022: $1.4 million). The decrease is attributed mainly to reduced expenses in the enterprise security segment after outsourcing to TerraZone Ltd., a global security reseller, in 2022.
Sales and marketing expenses totaled $2.2 million (Q1.2022: $3.0 million). The decrease resulted mainly from lower media acquisition costs in the consumer internet access business and reduced sales and marketing expenses in the enterprise security business after outsourcing to TerraZone Ltd. in 2022.
General and administrative expenses totaled $1.0 million (Q1.2022: $2.25 million). The decrease is largely due to reduced professional consulting fees, particularly legal fees related to resolved patent proceedings in May 2022.
As a result, net loss improved to $0.69 million, or $0.02 basic loss per ordinary share (Q1.2022: net loss of $4.7 million, or $0.16 basic loss per ordinary share).
Adjusted EBITDA was positive at $0.06 million (Q1.2022: Adjusted EBITDA Loss of $3.2 million).

The Company defines Adjusted EBITDA as net loss before depreciation, amortization, interest, tax and impairment of intangible assets, as further adjusted to remove the impact of (i) impairment of goodwill (if any); (ii) share-based compensation expense; and (iii) contingent consideration measurement (if any).

The following table presents the reconciled effect of the above on the Company’s Adjusted EBITDA or Adjusted EBITDA loss for the year and three months ended March 31, 2023 and 2022, and the years ended December 31, 2022 and 2021:

	For the Three-Month Period Ended March 31,				For the Year Ended December 31,
(millions of U.S. dollars)	2023		2022		2022		2021

Net loss for the period	(0.69	)	(4.73	)	(13.15	)	(13.13	)
Adjustments:
Assets depreciation, amortization and impairment	0.25		0.43		2.21		1.51
Finance expense (income), net	0.20		0.24		0.05		(0.94	)
Tax benefit	*		(0.08	)	(0.33	)	(0.94	)
EBITDA loss from continuing operations	(0.24	)	(4.14	)	(11.22	)	(13.50	)
Adjustments:
Impairment of goodwill	–		–		0.57		0.70
Contingent consideration measurement	–		–		–		(0.68	)
Share-based compensation	0.30		0.94		1.68		2.36
Adjusted EBITDA (Adjusted EBITDA loss) for the period	0.06		(3.20	)	(8.97	)	(11.12	)

*Less than $0.01

Balance Sheet Highlights:

As of March 31, 2023, shareholders’ equity totaled $12.9 million, or approximately $3.93 per outstanding American Depository Share, compared to shareholders’ equity of $13.3 million on December 31, 2022. The reduction is due mainly to the Company’s net loss during the first quarter of 2023.
As of March 31, 2023, the Company’s cash and cash equivalents balance totaled $3.7 million, compared to $3.3 million on December 31, 2022. The Company’s cash balance does not account for up to an additional $2.2 million in funds available under its credit facility and investment financing.

Use of Non-IFRS Financial Results
In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of EBITDA, Adjusted EBITDA and Adjusted EBITDA Loss for the periods presented that exclude depreciation and amortization, interest and tax, as further adjusted for the effect of impairment of goodwill, contingent consideration adjustments and share-based compensation expenses. The Company’s management believes the non-IFRS financial information provided in this release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating its business internally, and as such deemed it important to provide this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with IFRS, and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Investors are encouraged to review the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures provided in the financial statement tables herein.

First Quarter 2023 Financial Results Conference Call

Mr. Shachar Daniel, Chief Executive Officer of Alarum, and Mr. Shai Avnit, Chief Financial Officer of Alarum, will host a conference call today, on May 30, 2023, at 8:30 a.m. ET, to discuss the first quarter of 2023 financial results, followed by a Q&A session.

To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your call five minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number:

Date:	Tuesday, May 30, 2023
Time:	8:30 a.m. Eastern time, 5:30 a.m. Pacific time
Toll-free dial-in number:	1-877-407-0789 or 1-201-689-8562
Israel Toll Free:	1-809-406-247

Participants will be required to state their name and company upon entering the call. If you have any difficulty connecting with the conference call, please contact Michal Efraty on behalf of Alarum at +972-(0)-52-3044404.

The conference call will be broadcast live and available for replay here.

A replay of the conference call will be available after 11:30 a.m. Eastern time May 30, 2023, through June 27, 2023:

Toll-free replay number:	1-844-512-2921 or 1-412-317-6671
Replay ID:	13738915

About Alarum Technologies Ltd.

Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of internet access solutions. The Company operates primarily in two distinct segments: solutions for enterprises and solutions for consumers.

The solutions by NetNut, our Enterprise Internet Access arm, are based on our world’s fastest and most advanced and secured hybrid proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our Internet Service Providers partners around the world. The infrastructure is optimally designed to guarantee privacy, quality, stability, and the speed of the service.

Our Consumer Internet Access arm offers privacy and cybersecurity solutions to end users. These solutions are designed to allow users to take charge of their online privacy with a powerful, secured and encrypted connection. The solutions are designed for basic and advanced use cases, ensuring complete protection of personal and digital information.

For more information about Alarum and its internet access solutions for enterprises and consumers, please visit www.alarum.io.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses that its key metrics, both financial and non-financial, are moving in the right direction and aligning with its strategic vision, its belief that it remains on a clear path to profitability, the Company’s ability to drive revenue growth, maintain operational efficiency and create value for our stakeholders and confidence in its ability to thrive. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Alarum is not responsible for the contents of third-party websites.

INVESTOR RELATIONS CONTACTS:

Michal Efraty
+972-(0)52-3044404
[email protected]

Consolidated Statements of Financial Position (In thousands of USD)
	March 31,				December 31,
	2023		2022		2022
	(Unaudited)				(Audited)
Assets
Current assets:
Cash and cash equivalents	3,695		4,595		3,290
Short-term restricted deposits	500		65		560
Short-term investments	–		2,573		–
Trade receivables	1,404		1,219		1,790
Other receivables	683		685		760
Total current assets	6,282		9,137		6,400

Non-current assets:
Long-term restricted deposits	135		143		127
Long-term deposit	26		66		21
Other non-current assets	137		–		228
Property and equipment, net	94		121		92
Right of use assets	122		423		190
Goodwill	10,429		10,998		10,429
Intangible assets, net	4,639		6,596		4,884
Total non-current assets	15,582		18,347		15,971
Total assets	21,864		27,484		22,371

Liabilities and equity
Current liabilities:
Trade payables	1,142		1,642		2,167
Other payables	2,968		3,007		2,350
Current maturities of long-term loan	485		–		617
Short-term bank loans	1,603		–		1,606
Contract liabilities	1,228		581		1,170
Derivative financial instruments	2		577		26
Short-term lease liabilities	134		349		204
Total current liabilities	7,562		6,156		8,140

Non-current liabilities:
Long-term loans	1,055		–		606
Long-term contract liabilities	–		13		–
Long-term lease liabilities	8		159		13
Deferred tax liabilities	305		565		301
Liability with respect to the Israeli Innovation Authority	–		194		–
Total non-current liabilities	1,368		931		920
Total liabilities	8,930		7,087		9,060

Equity:
Ordinary shares	–		–		–
Share premium	95,150		91,955		95,077
Other equity reserves	15,281		16,826		15,042
Accumulated deficit	(97,497	)	(88,384	)	(96,808	)
Total equity	12,934		20,397		13,311
Total liabilities and equity	21,864		27,484		22,371

Consolidated Statements of Profit or Loss (In thousands of USD, except per share amounts)
	For the Three Months Ended March 31,				For the Year Ended December 31,
	2023		2022		2022		2021
	(Unaudited)		(Unaudited)		(Audited)		(Audited)

Revenues	5,679		4,021		18,779		10,281
Cost of revenues	1,927		1,904		8,652		5,145
Gross profit	3,752		2,117		10,127		5,136

Operating expenses:
Research and development expenses	1,062		1,394		4,033		4,771
Sales and marketing expenses	2,183		3,034		12,187		8,348
General and administrative expenses	995		2,251		6,762		7,013
Impairment of goodwill	–		–		569		700
Contingent consideration measurement	–		–		–		(684	)
Operating expenses	4,240		6,679		23,551		20,148

Operating loss	(488	)	(4,562	)	(13,424	)	(15,012	)

Finance income (expenses), net	(197	)	(244	)	(54	)	942
Tax benefit (income tax)	(4	)	79		327		945
Net loss	(689	)	(4,727	)	(13,151	)	(13,125	)

Basic loss per share	(0.02	)	(0.16	)	(0.42	)	(0.48	)

Diluted loss per share	(0.02	)	(0.16	)	(0.42	)	(0.48	)

Related Topics:AI Artificial Intelligence Machine learning

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Artificial Intelligence

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

Published

5 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

9 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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About MarketsandMarkets™
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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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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.
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Artificial Intelligence

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

Published

9 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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