Welcome to our dedicated page for Audioeye news (Ticker: AEYE), a resource for investors and traders seeking the latest updates and insights on Audioeye stock.
Overview of AudioEye Inc
AudioEye Inc (Nasdaq: AEYE) is a technology company that transforms digital accessibility through its innovative combination of artificial intelligence automation and expert remediation services. Focused on resolving ADA and WCAG compliance challenges, AudioEye delivers robust software solutions designed to identify, address, and prevent accessibility issues, ensuring that digital content is user-friendly for people of all abilities.
Core Business and Technology
At its core, AudioEye leverages cutting-edge AI technology backed by certified experts and proprietary processes to provide immediate digital accessibility compliance at scale. The company’s platform automates the detection and remediation of accessibility violations, offering continuous monitoring and legal protection. With patented approaches and flexible service models, AudioEye meets the unique needs of businesses ranging from global enterprises to small organizations by reducing technology barriers and streamlining compliance with ADA-related digital standards.
Market Position and Competitive Landscape
Operating in the expanding digital accessibility market, AudioEye addresses a critical need in today’s digital-first environment. Its solutions not only simplify adherence to rapidly evolving legal requirements but also enhance user experience and foster inclusivity. Competing with other accessibility vendors, AudioEye differentiates itself through its blend of automated tools, human-assisted interventions, verified expertise, and a commitment to ongoing advisory services. This nuanced approach positions the company well within a regulatory and competitive landscape where robustness and reliability are paramount.
Products, Services, and Key Advantages
The comprehensive solution offered by AudioEye includes:
- 24/7 Accessibility Monitoring: Continuous vigilance ensures websites and mobile applications remain compliant.
- Automated Accessibility Fixes: Advanced AI swiftly identifies and rectifies common usability issues in digital content.
- Expert Testing and Developer Tools: Certified experts and diagnostic tools provide detailed testing, maintaining high standards of digital accessibility.
- Legal Defense and Best Practices: The platform supports businesses in navigating complex compliance requirements, reducing the risks of litigation.
AudioEye’s solutions are tailored to support a wide array of industries—ranging from healthcare and education to financial services and e-commerce—each reliant on accessible digital communication for effective engagement with their audiences.
Commitment to Inclusivity and Security
Committed to fostering an inclusive digital future, AudioEye integrates direct feedback from the disability community into its processes. The company’s emphasis on both compliance and security is underscored by its achievement of key certifications, including HIPAA compliance and SOC 2 Type II, which ensure that sensitive information remains protected while accessibility standards are met meticulously.
Industry Expertise and Authoritativeness
AudioEye’s approach is built on deep industry expertise. The company’s continued investment in R&D and strategic acquisitions enhances its ability to provide dynamic, scalable solutions. By addressing digital accessibility challenges through rigorous testing, expert analysis, and continuous system updates, AudioEye supports organizations in meeting regulatory requirements and enhances user satisfaction across digital platforms.
Conclusion
Overall, AudioEye Inc stands as an essential partner for organizations intent on eradicating digital accessibility barriers. By combining patented AI technology with human insight, the company not only simplifies compliance but also enriches the online experience for everyone. Its clear focus on quality, security, and inclusivity makes it a significant entity in the technology and accessibility sectors, demonstrating an enduring commitment to ensuring a more accessible digital future.
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.
AudioEye, Inc. (NASDAQ: AEYE) announced the launch of an underwritten public offering of its common stock on August 26, 2020. The company may grant underwriters a 30-day option to purchase an additional 15% of the shares sold. Proceeds from the offering will be used for working capital and general corporate purposes. A registration statement was filed with the SEC, with the preliminary prospectus supplement detailing the offering available through B. Riley FBR. The company emphasizes that the offering's completion and terms are subject to market conditions.
AudioEye, Inc. (NASDAQ: AEYE) reported impressive financial results for Q2 2020, with total revenue surging by 117% to a record $5.3 million, driven by growth in vertical partner channels and new business. Monthly recurring revenue reached approximately $1.6 million, marking a 105% year-over-year increase. Gross profit also rose over 180% to $3.7 million. However, the operating expenses increased by 36% to $4.5 million. Despite a net loss of $1.4 million, the company maintains a positive outlook, expecting cash flow positivity in 2021, supported by a growing customer base of over 20,000.
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