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Pixie Dust Technologies has announced plans to voluntarily delist its American Depositary Receipts (ADRs) from the NASDAQ Capital Market and deregister with the SEC. The decision, made on October 23, 2024, comes just over a year after its August 2023 IPO. The company cited substantial costs of maintaining NASDAQ listing and U.S. Securities laws reporting obligations as primary reasons, choosing to redirect these resources toward business growth. The delisting process will begin with Form 25 filing around November 4, 2024, becoming effective November 15, 2024. The ADR program termination is scheduled for January 21, 2025, with full SEC deregistration expected by February 12, 2025.
Pixie Dust Technologies has announced plans to voluntarily delist its American Depositary Receipts (ADRs) from the NASDAQ Capital Market and deregister with the SEC. The board's decision, made on October 23, 2024, aims to redirect financial and human resources toward business growth due to substantial costs of maintaining the NASDAQ listing and U.S. Securities laws compliance.
Trading of ADRs will be suspended before trading on November 14, 2024, with the delisting becoming effective the same day. The company plans to file Form 15-F on November 14, 2024, to terminate ongoing disclosure obligations. The ADR program is expected to terminate on January 21, 2025, with full deregistration from SEC becoming effective on February 12, 2025.
Pixie Dust Technologies, Inc. (Nasdaq: PXDT), a Japanese technology company specializing in wave control technology, has announced a conference call to discuss its financial results for the fiscal year ended April 30, 2024. The call is scheduled for September 5, 2024, at 8:30 p.m. Eastern time. The event will be held both offline and online, with CEO Yoichi Ochiai and COO Taiichiro Murakami presenting. Interested parties must register by August 30, 2024, at 5:00 AM ET through a provided link. The company will address questions submitted during registration, aiming to answer as many as possible during the briefing.
Pixie Dust Technologies, Inc. (PXDT) reported its fiscal year 2024 financial results, ending April 30, 2024. Key highlights include:
- Total Revenue increased by 40.9% to ¥993,021 thousand ($6,303 thousand).
- Product Sales surged 186.0% to ¥523,154 thousand ($3,320 thousand).
- Services Sales declined to ¥469,867 thousand ($2,983 thousand).
- R&D Expenses decreased by 25.3% to ¥512,997 thousand ($3,256 thousand).
- SG&A Expenses rose 16.2% to ¥2,155,860 thousand ($13,684 thousand).
- Net loss slightly increased to ¥1,974,536 thousand ($12,534 thousand).
The company's cash and cash equivalents stood at ¥1,607,763 thousand ($10,205 thousand) as of April 30, 2024.
Pixie Dust Technologies (Nasdaq: PXDT) has launched the VUEVO™ Display, a innovative product designed to address multilingual communication challenges and support for people with disabilities. This transparent screen utilizes proprietary wireless microphone and voice recognition technology to provide real-time subtitling and translation in over 100 languages.
The product aims to solve two key issues:
- multilingual staff at customer service points, particularly for languages other than English
- The need for reasonable accommodation for deaf or hard of hearing individuals, as required by the revised Act on the Elimination of Discrimination against Persons with Disabilities
By facilitating smoother communication between staff and customers, VUEVO™ Display is positioned to enhance customer satisfaction in various sectors including commercial facilities, accommodation, and public transportation.
Pixie Dust Technologies (Nasdaq: PXDT) has announced new debt financing from The Shoko Chukin Bank, amounting to one billion yen. The funds, intended for working capital, were secured on May 31, 2024, with a maturity date of September 30, 2025. The loan will be repaid in a lump sum on maturity, with an interest rate comprising the lender's short-term prime rate plus a spread of 2.525% per annum. The company anticipates additional debt financing from other Japanese financial institutions and will update stockholders accordingly.
Pixie Dust Technologies (PXDT) revealed its FY2024 business outlook, forecasting a total revenue range of 1.00 to 1.02 billion yen. This represents an increase of 41.9% to 44.7% compared to the approximately 0.70 billion yen revenue for FY2023. The company leverages proprietary wave control technology to commercialize innovative products and materials.
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