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RigNet Stock Price, News & Analysis

RNET Nasdaq

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect RigNet's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of RigNet's position in the market.

Rhea-AI Summary

RigNet (NASDAQ: RNET) announced advancements in its Cyphre technology, designed to enhance security and performance in edge applications. The new capabilities, based on a US Patent, improve session key protection, preventing exposure to operating system memory and mitigating cache attacks. As Industrial IoT grows, Cyphre aims to secure critical information across various sectors, including finance and healthcare. RigNet continues to provide cybersecurity solutions for highly sensitive environments, offering increased bandwidth efficiency and application performance.

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RigNet (NASDAQ: RNET) announced that its subsidiary, Intelie, has achieved “co-sell ready” status through the Microsoft One Commercial Partner Program. This status allows Intelie Live, a real-time machine learning platform, to be available in the Microsoft Azure Marketplace, enhancing its deployment capabilities. The platform analyzes vast amounts of Industrial IoT data, optimizing operations across various sectors such as Energy and Finance. This collaboration with Microsoft supports RigNet’s aim to drive new business and expedite IIoT deployments for global customers.

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RigNet, Inc. (NASDAQ: RNET) reported a first quarter 2020 revenue of $58.8 million, a 2.2% year-over-year increase, but down 8.3% sequentially. The company faced a net loss of $26.8 million or $1.34 per share, influenced by a $23.1 million goodwill impairment. Adjusted EBITDA remained flat at $8.4 million. The project backlog stands at $22.4 million. CEO Steven Pickett noted impacts from COVID-19 and oil prices on operations, forecasting potential challenges in Q2 2020, while highlighting a focus on cost reduction and liquidity management.

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