Clearone Inc Stock Price, News & Analysis

ClearOne (NASDAQ: CLRO) has launched Aura, a series of professional audio and video collaboration solutions aimed at remote working professionals. With the shift to home offices, 88% of employers now support remote work, yet only 18% of employees have the necessary infrastructure. Aura packages provide enterprise-quality audio and video technology, designed for easy installation and optimized for home office environments. The solutions promise improved productivity, collaboration, and communication for remote workers, aligning with the growing demand for quality home office setups.

ClearOne (NASDAQ: CLRO) reported Q3 2020 revenues of $8.4 million, a 40% increase year-over-year and a 31.3% increase sequentially. Gross profit rose 39% to $3.5 million, with a gross margin of 41.8%. Despite revenue growth, audio conferencing product revenue remains low due to ongoing patent infringements. The company reported a net loss of $1.3 million ($0.07 per share), improving from $2.0 million loss YOY. Legal victories against Shure bolster ClearOne’s position on intellectual property rights, as they aim for further recovery.

ClearOne (NASDAQ:CLRO) announces that its CONVERGENCE AV Network Manager software now supports the patented BMA 360 Ceiling Tile Beamforming Microphone Array, enhancing audio quality. The software upgrade increases the database connection pool to accommodate virtually unlimited devices and users, catering to large enterprises. CONVERGENCE offers a unified platform for monitoring ClearOne products with a user-friendly interface and real-time updates. Additional features include support for the latest CONSOLE AI project files and firmware updates for CONVERGE Pro 2 and Huddle DSP mixers.

ClearOne (NASDAQ: CLRO) reported a 40% year-over-year revenue growth, reaching $8.4 million in Q3 2020, driven by strong sales in video products and the introduction of the BMA 360 audio solution. The sequential growth was 32% compared to Q2 2020. Despite this, the company recorded a GAAP net loss of $1.3 million, improving from $2.0 million in Q3 2019. The operating loss decreased by 45%. The U.S. District Court ruled in ClearOne's favor against competitor Shure, marking a significant legal victory.

ClearOne (NASDAQ:CLRO) announces the launch of its BMA 360, the most advanced Beamforming Microphone Array Ceiling Tile, promising superior audio performance and ease of deployment. This innovative microphone array features FiBeam™ technology for natural audio and DsBeam™ for excellent noise rejection. With 6G Acoustic Echo Cancellation, it enhances conference audio quality. The BMA 360 simplifies system design and installation, supports various ceiling formats, and is now available for shipping worldwide, backed by multiple patents.

ClearOne (NASDAQ:CLRO) has updated its CONVERGENCE AV Network Manager software, introducing an organizational portal supporting up to 2048 devices and users. The update includes LDAP support with two access levels: a secure administrator level and a viewer level. Key features encompass real-time remote access, batch firmware updates, VoIP line management, and integration with third-party management systems like IBM Cognos Analytics. The software is available in twelve languages, ensuring scalability for organizations of any size.

ClearOne (Nasdaq: CLRO) announced a registered direct offering of 2,116,050 shares at $2.4925 per share, totaling approximately $5.275 million in gross proceeds. The offering includes unregistered warrants for 1,058,025 shares at an exercise price of $2.43, expiring in five years. The funds are intended for general corporate purposes and working capital, with the transaction expected to close around September 16, 2020. H.C. Wainwright & Co. is the placement agent, and the offering is conducted under a shelf registration statement filed with the SEC.

ClearOne (NASDAQ: CLRO) announces a ruling from Judge Edmond E. Chang, affirming that Shure violated a preliminary injunction regarding the MXA910-A, allowing its installation in a prohibited manner. The Court found Shure in contempt for its design choices and ordered it to cease manufacturing, marketing, or selling the MXA910-A. ClearOne aims to protect its patents, with ongoing legal action against Shure’s MXA910-US model still pending. CEO Zee Hakimoglu expresses satisfaction with the Court's decision, which reinforces ClearOne’s position against patent infringements.

ClearOne (NASDAQ:CLRO) announced a significant victory as the Patent Trial and Appeal Board (PTAB) invalidated 38 of the 40 claims related to Shure's U.S. Patent No. 9,565,493, which covered beamforming microphone arrays. The ruling leaves only 13 narrower claims, diminishing the patent's relevance in the market. ClearOne asserts that its technology does not infringe these claims and emphasizes its strong patent portfolio, including U.S. Patent No. 9,813,806, which has already resulted in a preliminary injunction against Shure. This decision is seen as a reinforcement of ClearOne's market position.