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ClearOne, Inc. (DE) - CLRO STOCK NEWS

Welcome to our dedicated page for ClearOne (DE) news (Ticker: CLRO), a resource for investors and traders seeking the latest updates and insights on ClearOne (DE) stock.

ClearOne, Inc. (DE) Common Stock (symbol: CLRO) is a global leader in designing, developing, and selling innovative solutions for conferencing, collaboration, network streaming, and digital signage. With over 20 years in the business, ClearOne serves a wide range of organizations worldwide, including small enterprises, Fortune 1000 companies, as well as domestic and international governments and educational institutions.

Core Areas of Business:

  • Conferencing: ClearOne dominates the professional conferencing market with over 54% global market share, specializing in audio conferencing technologies. Their advanced solutions offer unparalleled functionality, reliability, and scalability.
  • Collaboration: The company develops products that enhance team collaboration, including DSP mixers, amplifiers, professional cameras, and microphones. These products are designed to meet the needs of various verticals such as education, healthcare, finance, and government.
  • Network Streaming & Signage: ClearOne’s solutions for network streaming and digital signage provide robust performance for voice and visual communications. Their video walls and streaming technologies are widely used due to their reliability and high quality.

Recent Achievements and Financial Condition:

ClearOne continues to innovate, with a broad portfolio of award-winning products benefiting from their leadership in distributed echo cancellation, automatic microphone mixing, and signal processing. The company's financial health is reinforced by its comprehensive product demand across the United States and international markets.

ClearOne sells its commercial products primarily through a network of independent distributors who then offer these products to dealers, systems integrators, and other resellers. This strategic approach helps the company maintain a strong market presence and accessibility to various end-users.

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ClearOne (NASDAQ: CLRO) has clarified that the ex-dividend date for its one-time special cash dividend of $1.00 per share will be on June 1, 2023. The dividend will be payable on May 31, 2023 to shareholders of record on May 22, 2023.
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ClearOne (NASDAQ: CLRO) has declared a special one-time cash dividend of $1.00 per share of ClearOne common stock. The dividend will be payable on May 31, 2023 to shareholders of record on May 22, 2023. The company believes it is now positioned for long-term growth and profitability.
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ClearOne (NASDAQ: CLRO) reported Q4 2022 results, showing a 44% revenue decline to $4.0 million compared to $7.2 million in Q4 2021, primarily due to manufacturing transition delays from China to Singapore. The legal settlement generated a one-time gain of $33.6 million, resulting in a GAAP net income of $24 million, or $0.97 per share. Non-GAAP operating expenses decreased by 24%, while gross profit fell 52% year-over-year to $1.3 million. Cash and equivalents dropped to $1.0 million, although recent settlements improved liquidity, providing over $56 million in cash. The company anticipates continued impact from manufacturing delays into Q1 2023.

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ClearOne (NASDAQ: CLRO) has launched the new CHAT® 150 BT group speakerphone, enhancing conferencing with USB and Bluetooth connectivity. This speakerphone is designed for home offices and mid-size meeting rooms, offering superior audio clarity. Key features include audio bridging for seamless integration of participants from various devices, a steerable microphone array for noise reduction, and compatibility with popular platforms like Microsoft Teams and Zoom. The CHAT® 150 BT also retains features like Advanced Noise Cancellation and Automatic Level Control. The innovative design aims to meet the demands of remote communication effectively.

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ClearOne (NASDAQ: CLRO) will be present at ISE 2023 from January 31 to February 3 in Barcelona, showcasing its diverse solutions for conferencing and collaboration. Key highlights include the UNITE® 260 Pro PTZ Camera with advanced AI features, and the CHAT™ 150 BT speakerphone, enhancing remote communication. CEO Derek Graham emphasized the importance of adapting to hybrid work environments. The company aims to demonstrate the ease of integration for its products, which are compatible with major collaboration platforms. Attendees can register for a complimentary visitor pass with code CEHEC578.

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ClearOne (NASDAQ: CLRO) has appointed Derek Graham as Chief Executive Officer (CEO), effective January 24, 2023. Graham previously served as interim CEO since May 2022, demonstrating strong leadership during challenging times. He joined ClearOne in 2003 and has contributed significantly to the company’s innovation, holding 13 patents critical to its success. The Board expressed confidence in his ability to guide ClearOne towards growth. Graham expressed gratitude for the opportunity and looks forward to working with the team to deliver positive results for stakeholders.

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ClearOne (CLRO) has regained compliance with Nasdaq Listing Rule 5550(a)(2) after its stock traded above $1.00 for ten consecutive days, as per a Nasdaq letter received on December 23, 2022. The company announced a record cash position exceeding $57 million and has repaid a $2 million bridge loan. Interim CEO Derek Graham expressed optimism for 2023, planning to use this cash to drive revenue growth, eliminate debt, and reward shareholders. The company aims to turn past challenges into opportunities.

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ClearOne (NASDAQ: CLRO) has launched its new UNITE 260 Pro Camera, enhancing its UNITE PTZ Camera series. This 4K Ultra HD camera features a 20X optical zoom and 16X digital zoom, ideal for capturing participants in various settings. Key features include AI-based smart face tracking and auto framing modes, dual outputs for HDMI and IP, and support for multiple video formats. The camera aims to improve video conferencing and distance learning experiences. It will be showcased at ISE 2023 in Barcelona, Spain.

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ClearOne (NASDAQ: CLRO) and Shure Incorporated have reached a global settlement of all ongoing legal disputes. The companies aim to avoid litigation costs and have agreed to dismiss all pending cases. As part of the settlement, both parties will cross-license their patent rights, enabling them to sell products without restrictions. The settlement is contingent on certain court approvals, and neither party has admitted any wrongdoing. This resolution may provide ClearOne with greater operational flexibility moving forward.

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ClearOne Inc. (NASDAQ: CLRO) reported Q3 2022 revenue of $6.3 million, a 10% decline year-over-year attributed to a 59% drop in video products. However, audio conferencing revenue grew by 10%. Non-GAAP operating expenses fell 30% to $3.0 million, leading to a 65% reduction in non-GAAP net loss, which stood at $0.5 million. GAAP net loss was $1.2 million, or $0.05 per share. Cash reserves decreased to $1.5 million from $4.1 million at year-end 2021. The company continues to navigate supply chain challenges due to its manufacturing transition from China to Singapore.

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FAQ

What is the current stock price of ClearOne (DE) (CLRO)?

The current stock price of ClearOne (DE) (CLRO) is $0.584 as of October 31, 2024.

What is the market cap of ClearOne (DE) (CLRO)?

The market cap of ClearOne (DE) (CLRO) is approximately 14.1M.

What does ClearOne, Inc. specialize in?

ClearOne, Inc. specializes in designing, developing, and selling conferencing, collaboration, network streaming, and digital signage solutions.

How long has ClearOne been in business?

ClearOne has been in business for over 20 years.

Which sectors use ClearOne's products?

ClearOne's products are used in sectors like education, enterprise, government/legal, healthcare, finance, and houses of worship.

What is ClearOne's market share in professional conferencing?

ClearOne holds over 54% of the global market share in professional conferencing.

Who are the typical customers of ClearOne?

ClearOne's customers include small enterprises, Fortune 1000 companies, domestic and international governments, and educational institutions.

What are some of the products offered by ClearOne?

ClearOne offers DSP mixers, amplifiers, video walls, professional cameras, and microphones among other products.

How does ClearOne distribute its products?

ClearOne sells its products through a network of independent distributors who then sell to dealers, systems integrators, and other resellers.

What recent achievements has ClearOne made?

ClearOne continues to innovate with a broad portfolio of award-winning products benefiting from leadership in areas like distributed echo cancellation and automatic microphone mixing.

Where does ClearOne have its business presence?

ClearOne has a business presence across the United States and international markets.

What makes ClearOne's solutions reliable and scalable?

ClearOne's solutions are known for their advanced functionality, reliability, and scalability, making them suitable for various professional applications.

ClearOne, Inc. (DE)

Nasdaq:CLRO

CLRO Rankings

CLRO Stock Data

14.13M
23.97M
48.42%
5.7%
0.06%
Communication Equipment
Telephone & Telegraph Apparatus
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United States of America
SALT LAKE CITY