Welcome to our dedicated page for Remark Hldgs news (Ticker: MARK), a resource for investors and traders seeking the latest updates and insights on Remark Hldgs stock.
Remark Holdings, Inc. (OTCQX: MARK) generates frequent news coverage as an AI and computer vision company focused on video analytics, safety, and smart city applications. Company updates often highlight new product capabilities, technology optimizations, strategic partnerships, and contracts across government, education, transportation, and other sectors.
Recent announcements describe the company’s AI-powered analytics platform, including the Smart Safety Platform (SSP), which has been optimized for Intel Architecture using OpenVINO to improve AI workload performance. News items also cover the launch of Remark’s Drone Video Analytics (DVA) platform, which manages and analyzes real-time video feeds from drone fleets for use in areas such as military operations, law enforcement, and package delivery.
Remark’s news flow includes public sector and smart city developments, such as Google Public Sector selecting its computer vision AI for projects in New York State under an Enterprise Cloud Services Agreement. Other stories discuss contracts and proof-of-concept deployments for weapons detection and safety analytics in large U.S. school districts, smart city expos, and transportation systems, as well as participation in events like Oracle CloudWorld as part of AI-focused pavilions.
Investors and observers can also find coverage of capital markets and balance sheet actions, including preferred stock offerings and a debt exchange agreement with Mudrick Capital Management, L.P. The MARK news page on Stock Titan aggregates these earnings updates, partnership announcements, product launches, and financing developments so readers can follow how Remark’s AI business and relationships with partners such as Microsoft, Oracle, Nvidia, Intel, and Google Public Sector evolve over time.
Remark Holdings, Inc. (NASDAQ: MARK) addressed recent allegations by Wolfpack Research regarding its ownership stake in Sharecare and control over its Chinese subsidiaries. The company confirmed it owns approximately 4.5% of Sharecare and has resolved any litigation concerning this investment. Additionally, Remark clarified its ability to control its variable interest entities in China through standard contracts. They also highlighted their original design manufacturing capabilities and reassessed their investment strategy in AIO, with a cash balance of over $10 million as of June 30, 2020.
Remark Holdings (NASDAQ: MARK) reported its fiscal Q2 2020 results, revealing revenues of $2.3 million, down from $2.9 million in Q2 2019.
The company introduced AI-powered thermal imaging solutions, generating $1.1 million in initial revenue. Remark also recapitalized its balance sheet, paying off over $13 million in debt, and ended the quarter with $10.2 million in cash. Although revenues from the China segment suffered due to COVID-19, projects resumed, contributing $1.0 million to revenue. The net loss for Q2 was $9.8 million, primarily impacted by a non-cash change in warrant liability.
Remark Holdings (NASDAQ: MARK) announced a significant partnership to install its Remark AI Thermal Kits at The Meadows School in Las Vegas, marking the first deployment in a U.S. school. This initiative aims to facilitate a safe return for students and staff for the 2020-2021 academic year. The thermal kits provide rapid, touch-free temperature scanning for multiple individuals, alerting staff to potential health risks. The Meadows School selected Remark due to its comprehensive solutions, which also include attendance and compliance monitoring, enhancing safety standards in the education sector.
Remark Holdings, Inc. (NASDAQ: MARK) announced the installation of its AI-powered Bio-Safety Thermal Kits at Zero Bond, a private urban lodge in New York City. This deployment aims to enhance safety measures in a post-COVID environment by allowing fast, touch-free temperature scanning for up to 120 people per minute. CEO Kai-Shing Tao expressed confidence in the partnership, noting the technology's role in restoring normalcy. Zero Bond's founder, Scott Sartiano, emphasized the commitment to providing a safe and seamless experience for members through these advanced AI solutions.
Remark Holdings, Inc. (NASDAQ: MARK) has scheduled a conference call to discuss its second quarter financial results for the period ending June 30, 2020. The call will take place on August 14, 2020, at 9:00 a.m. Eastern time. Management will cover financial outcomes and updates on AI business operations in Asia and the United States, along with progress in bio-safety thermal and security screening. Interested parties can access the call via telephone or online webcast.
Remark Holdings, Inc. (NASDAQ: MARK) reported Q1 2020 revenue of $0.4 million, a decrease from $1.2 million in Q1 2019, due to COVID-19 impacts, U.S.-China trade tensions, and project delays.
Operating loss decreased to $3.5 million from $5.9 million, while loss from continuing operations was $2.4 million ($0.05 per diluted share), an improvement from $7.7 million ($0.20 per diluted share) a year earlier. Cash and equivalents rose to $1.6 million, up from $0.3 million. The company anticipates growth through new AI solutions for various U.S. sectors.
Remark Holdings (NASDAQ: MARK) is set to hold a conference call on July 6, 2020, at 4:30 p.m. Eastern time to discuss its financial results for the first quarter ending March 31, 2020. The call will also cover updates on the company's AI initiatives across Asia and the United States, including advancements in thermal and security screening. Investors can access the call via telephone or online webcast. A replay will be available after the call until July 11, 2020.