Remark Hldgs Inc Stock Price, News & Analysis

Remark Holdings, Inc. (NASDAQ: MARK) announced the launch of an upgraded KanKan AI Platform for school campus management in China. The company aims to install this platform in over 3,000 schools, representing an $18 million opportunity. Currently, over 300 schools are using the platform, including 135 in Hangzhou. Remark Holdings plans to add 40 distributors in 2022, potentially covering nearly 10,000 schools. The educational informationization market in China is growing rapidly, projected to be worth around $40 billion.

Remark Holdings, Inc. (NASDAQ: MARK) has finalized a private placement agreement with an institutional investor, issuing 4,237,290 shares and warrants for a total of approximately $5.0 million at $1.18 per share. The warrants are exercisable at $1.35 each and will expire in five years. The funds will be utilized for working capital and corporate needs. The transaction is expected to close on September 29, 2021, pending customary conditions. The company will register the resale of these shares with the SEC.

Remark Holdings (NASDAQ: MARK) has secured a $5 million contract to implement its AI-driven workplace safety solutions across 100 construction sites in China, specifically in Shanghai, Shenzhen, and Guangzhou. The installation of 30 sites is projected by the end of 2021, with the remainder completed by the end of Q1 2022. The company plans to capitalize on the growing demand for safety technology, fueled by increasing governmental enforcement of workplace safety standards in the coming years. Remark Holdings' track record and solutions position it well for success in this expanding market.

Remark Holdings, Inc. (NASDAQ: MARK) announces participation in upcoming investor conferences, highlighting its position as a diversified global technology company focused on AI solutions and digital media. Notable events include:

• H.C. Wainwright 23rd Annual Global Investment Conference (Sept 13-15, 2021)
• Emerging Growth Conference (Sept 29, 2021, at 1:30 p.m. ET)
• LD Micro Main Event (Oct 12-14, 2021)

For details, visit their website or contact the respective conference organizers.

Remark Holdings, Inc. (NASDAQ: MARK) reported fiscal Q2 2021 revenue of $4.0 million, a significant increase from $2.3 million in Q2 2020, with U.S. revenue nearly doubling. The company anticipates additional growth, highlighting success in their AI data intelligence platform and ongoing projects in China. Gross profit rose to $1.8 million, with a margin of 43.9%. However, an operating loss of $2.5 million was reported, although it improved from $2.8 million in Q2 2020. The net loss narrowed to $1.6 million or $0.02 per diluted share. Liquidity was supported by a merger with Sharecare, Inc., providing $2.3 million in initial liquidity.

Remark Holdings, Inc. (NASDAQ: MARK) announced a conference call scheduled for August 23, 2021, at 4:30 p.m. Eastern time to discuss its fiscal second quarter financial results, which ended on June 30, 2021. The call will cover the company's financial performance and updates on its AI business in Asia and the United States. Interested participants can join via telephone or online webcast, with replay options available until August 28, 2021.

Remark Holdings, Inc. (NASDAQ: MARK) announced that its Remark AI software achieved a top-five ranking in the recent Face Recognition Vendor Test (FRVT) by the U.S. National Institute of Standards and Technology (NIST). This test evaluated 198 systems on face mask recognition capabilities. Remark AI's system excelled in accuracy, speed, and performance under complex conditions, even identifying faces in challenging scenarios. The company emphasizes its commitment to data privacy and delivering high-quality AI solutions across various industries.

Remark Holdings, Inc. (NASDAQ: MARK) has successfully installed its KanKan AI Smart Campus system in over 200 schools across China, enhancing school operations with features such as attendance management, epidemic control, and energy efficiency. The system automates health screenings and access control, helping staff streamline tasks during the COVID-19 pandemic. Notably, it has resulted in estimated annual reductions of 2,556 tons of CO₂ and 76 tons of SO₂ emissions. The initiative is gaining recognition, with media affirming its impact on resuming school activities safely.

Remark Holdings, Inc. (NASDAQ: MARK) has announced the adjournment of its special shareholder meeting originally scheduled for May 27, 2021, to July 8, 2021, at 1:00 p.m. ET. The decision aims to allow more time to gather sufficient votes to achieve a quorum and proceed with the planned business discussions. Remark Holdings is recognized for its integrated AI solutions that enhance various industries, including retail and public safety.