AudioEye, Inc. - AEYE STOCK NEWS

AudioEye, Inc. (NASDAQ: AEYE) reported a customer update and preliminary revenue outlook for Q4 2020 and FY 2021. The company expects to finish Q4 with around 32,000 customers, projecting revenue between $5.4 million and $5.6 million for Q4, and $20.3 million to $20.5 million for the full year. For 2021, AudioEye anticipates revenue of $30 million to $32 million, driven by new partnerships and customer acquisition strategies. The company emphasized significant growth in customer base, aiming for cash flow positivity in 2021.

AudioEye, Inc. (NASDAQ: AEYE) has announced the appointment of Rob Ulveling as the new Chief Business Officer. With two decades of experience in building strategic partnerships and customer acquisition, Ulveling's role will focus on enhancing AudioEye's partnership strategy to promote digital accessibility. Previously, he led platform integration strategies at Pinterest and Facebook, contributing to significant revenue growth. Interim CEO David Moradi emphasized the importance of Ulveling's expertise in driving the company's growth and accessibility initiatives.

AudioEye, Inc. (NASDAQ: AEYE) reported a 92% increase in total revenue for Q3 2020, reaching over $5.3 million, up from $2.8 million in the same period last year. Monthly recurring revenue (MRR) grew by 67% year-over-year to approximately $1.7 million. Gross profit rose 132% to $3.8 million, representing about 71% of total revenue. Despite a net loss of $1.1 million, improvements in profit margins and customer retention rates at 90% were reported. Cash reserves significantly increased to $10.3 million by quarter-end. The company aims for cash flow positivity in 2021.

AudioEye (NASDAQ: AEYE) has partnered with Neil Patel Digital to integrate its digital accessibility platform with Neil Patel's Ubersuggest SEO tool. This collaboration aims to enhance digital content accessibility for people with disabilities while improving SEO performance. With over 50 million U.S. residents living with disabilities, the partnership seeks to maximize business reach by addressing ADA compliance and accessibility in digital marketing. A webinar titled 'How To Protect & Grow Your Business With Digital Accessibility & SEO' will be hosted on December 10 to discuss this integration further.

AudioEye, Inc. (NASDAQ: AEYE) announced the appointment of Russell Griffin as Chief Revenue Officer. With over 15 years of experience, he will lead sales operations and strategy to drive digital growth. Previously, Griffin was VP at ShipStation, where he achieved a 100% revenue increase year-over-year. His eCommerce expertise is expected to enhance AudioEye’s growth and digital accessibility efforts. Interim CEO David Moradi expressed confidence in Griffin's ability to accelerate the company's momentum.

AudioEye, Inc. (NASDAQ: AEYE) has scheduled a conference call for November 12, 2020, at 4:30 p.m. ET to discuss its third quarter 2020 financial results ending September 30, 2020. The results will be released prior to the call. Interested parties can participate by calling (877) 407-9208 in the U.S. or (201) 493-6784 internationally. The call will also be webcast live and available for replay via the investor relations section of the company’s website.

AudioEye, Inc. (NASDAQ: AEYE) announced the appointment of Bryan Rodrigues as Chief Marketing Officer, effective immediately. With over 20 years of technology marketing experience, Rodrigues aims to enhance the company’s branding and marketing strategies as it seeks to improve digital accessibility. Prior to joining AudioEye, he excelled at Tile and participated in Livescribe’s acquisition by Anoto. Interim CEO David Moradi expressed enthusiasm about Rodrigues’ role in driving innovation at AudioEye, especially as demand for digital accessibility solutions continues to grow.

AudioEye (NASDAQ: AEYE) will present at the 9th Annual Gateway Conference on September 9, 2020, at 8:30 a.m. PT. The event will be held virtually, offering one-on-one meetings throughout the conference. Interested parties can access the live webcast and replay here. The Gateway Conference connects companies with institutional investors and analysts, facilitating direct access to management through presentations and Q&A sessions. For additional inquiries, email conference@gatewayir.com.

AudioEye, a leader in website accessibility solutions, has priced an underwritten public offering of 411,513 shares of its common stock at $17.75 per share, aiming for gross proceeds of approximately $7.3 million. The offering includes a 30-day option for the underwriter to purchase an additional 61,726 shares. Proceeds will be utilized for working capital and general corporate purposes. This offering is expected to close around August 31, 2020, subject to customary conditions. B. Riley FBR serves as the sole bookrunner for this offering.