Welcome to our dedicated page for Viewbix news (Ticker: VBIX), a resource for investors and traders seeking the latest updates and insights on Viewbix stock.
Viewbix Inc. (Nasdaq: VBIX) is a Communication Services company that combines digital advertising activities with a strategic move into quantum and AI technologies. The VBIX news stream highlights how the company’s traditional ad-tech operations and its planned acquisition of Quantum X Labs Ltd. intersect, giving investors and observers insight into both internet content monetization and emerging quantum computing applications.
Recent Viewbix news has focused on its definitive agreement to acquire up to 100%, and not less than 85%, of Quantum X Labs, an Israeli multi-disciplinary quantum technology hub. Articles describe Quantum X Labs’ portfolio companies in quantum-based navigation (including GPS alternatives), next-generation atomic clocks, quantum algorithms for sectors such as transportation, drug discovery, biomedicine and security, and advanced quantum error correction technologies. News items also cover provisional patent filings for quantum-enhanced Markov Chain Monte Carlo methods and developments at Quantum Gyro Ltd., a portfolio company working on quantum-based gyroscopes for precision navigation.
Alongside quantum-related updates, Viewbix news includes corporate and capital markets developments such as private placements of common stock and warrants, the sale of its digital content subsidiary Cortex Media Group Ltd. to a buyer affiliated with Minute Media, and stockholder approvals connected to the Quantum X Labs transaction. Company releases continue to describe Viewbix’s digital advertising activities through subsidiaries like Gix Media Ltd. and Metagramm Software Ltd., which develop software for automation, optimization and monetization of internet campaigns and grammatical error correction tools using artificial intelligence.
By following VBIX news, readers can monitor transaction milestones for the Quantum X Labs acquisition, updates on quantum intellectual property and portfolio company progress, and changes in Viewbix’s digital advertising structure and financing arrangements. The news page aggregates these disclosures so that users can review material company announcements and regulatory-related updates in one place.
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Viewbix reported strong financial results for the fiscal year ended December 31, 2022, with a record revenue of $96.6 million, representing a 114% increase year-over-year. The fourth quarter alone saw revenues reach $30.5 million, up 43%. Operating income surged to $2.7 million compared to $541,000 in 2021. EBITDA rose 123% year-over-year to $5.5 million. Notably, net profit increased to $1.1 million, reflecting a 89% growth from the previous year. Viewbix attributes this growth to its digital content activity and the acquisition of Cortex Media Group, and aims to expand further in the digital advertising market.
Viewbix (OTC: VBIX) has announced the acquisition of an additional 10% stake in Cortex Media Group Ltd., increasing its ownership to 80%. This Subsequent Purchase was valued at approximately $27 million, funded by $2.7 million in cash and a $1.5 million bank loan. Since the Initial Purchase in October 2021, Cortex's valuation has increased due to improved financial results, with Gix Media's revenues growing by 176% to $66.1 million in the first nine months of 2022 compared to 2021. Viewbix's CEO expressed excitement over Cortex's positive trend and plans to expand in the content sector.
Viewbix announced significant financial growth for Q3 2022, marking its first results post-acquisition of Gix Media. Revenues soared to $22.8 million, up 182% year-over-year, leading to an operating income of $427,000, a turnaround from a $111,000 loss in Q3 2021. EBITDA reached $1.2 million, a 268% increase, while net cash from operations doubled to $1.6 million. Despite a GAAP net loss of $30, the non-GAAP net income rose by 56% to $844,000. CEO Amihay Hadad highlighted plans for further growth in ad and mar-tech sectors.