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Cemtrex Inc. (Nasdaq: CETX) is a diversified technology company that is making significant strides across multiple industries. With a strong focus on advancing smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems, Cemtrex is at the forefront of innovation. The company operates primarily in three segments: Security, Industrial Services, and Corporate.
Cemtrex's Security segment, which generates the most revenue, includes Vicon Industries, a global leader in advanced security and surveillance technology. Vicon provides comprehensive security solutions for businesses, schools, municipalities, hospitals, and cities. The company is known for its AI-driven video analytics and integrated access control solutions.
In the Industrial Services segment, Cemtrex owns Advanced Industrial Services (AIS), a premier provider of industrial contracting services. AIS offers services such as millwrighting, rigging, piping, electrical, and welding. The company is well-equipped to install high-precision equipment in various industrial markets, including automotive, printing and graphics, industrial automation, packaging, and chemicals.
Geographically, Cemtrex operates in the USA, UK, and India, with the majority of its revenue generated in the USA. The company has recently made headlines with several substantial orders and strategic initiatives, including:
- A $2.2 million order for a geothermal system update for a Northeastern school district.
- A $1.6 million order for a key component for a motion control technologies company.
- A new suite of AI-based analytics from the Roughneck AI Camera Series and Valerus Video Management Software Solutions for a New Jersey school district.
Financially, Cemtrex reported a 41% increase in Q1’24 revenue to $16.9 million and a 7% increase in Q2’24 revenue to $17.2 million. The company recently completed a restructuring in 2023, positioning its AIS and Vicon segments for continued revenue growth and expanded operating profitability.
Additionally, Cemtrex is set to launch a disruptive AI gun detection feature in the second quarter of 2024, marking a significant milestone in the field of surveillance technology.
The company has also announced a public offering with gross proceeds expected to be approximately $10 million. The proceeds will be used for operations, marketing, investment in existing business initiatives, partial repayment of debt, and potential acquisitions of complementary businesses or technologies.
For more information, visit the company’s websites: Cemtrex, Vicon, and AIS.
Cemtrex Inc. (NASDAQ: CETX, CETXP) announces its subsidiary Vicon Industries will exhibit at the ISC West from March 22-25, 2022. The event focuses on advanced security technologies including access control, alarms, and surveillance. Vicon will showcase its latest products, emphasizing platform centralization that integrates diverse security functions into a unified interface. Key products include Valerus 22.1, a video management system, and the Roughneck Multi-Sensor Series, designed for efficient security monitoring. The offerings aim to enhance operational efficiency and reduce costs.
Cemtrex Inc. (NASDAQ: CETX, CETXP) reported a 21% increase in first-quarter revenues, reaching $10.7 million, compared to $8.8 million in the same period last year. Despite this growth, the company recorded a net loss of $4.5 million, up from $1.7 million in Q1 2021, driven by rising costs and increased operating expenses of $7.9 million. The company regained compliance with Nasdaq requirements and appointed new independent directors. Additionally, strategic reviews are underway to maximize shareholder value, including potential business unit sales.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) has announced a second investment of $0.5 million in Masterpiece Studio, bringing the total to $1.0 million. This investment aims to enhance Masterpiece Studio's advanced 3D content creation tools for virtual reality and the Metaverse, addressing a growing demand for easy-to-use software. Saagar Govil, the company's CEO, emphasized the potential of this investment as major tech players recognize the Metaverse's growth. Cemtrex seeks further strategic investments to support shareholder value and long-term success.
onXRP.com and Cemtrex are collaborating to enhance the onXRP ecosystem with modular extensions aimed at supporting the XRP Ledger (XRPL). This partnership leverages Cemtrex's expertise in IoT, AI, and virtual reality, which is crucial for building XRPL NFT-supporting technology. Both companies aim to compete with major players in the NFT space, including OpenSea and Rarible. The collaboration is expected to drive innovation and efficiency, allowing onXRP to scale effectively in a rapidly evolving industry.
Cemtrex (NASDAQ: CETX, CETXP, CETXW) announced compliance with Nasdaq's listing rules after filing its Form 10-K for the period ended September 30, 2021. This follows a notification from Nasdaq received on January 19, 2022, regarding the company's previous non-compliance due to the delayed filing. Cemtrex was given a cure period to regain compliance, which it successfully achieved by filing the required report on January 21, 2022. As a result, the matter is now considered closed.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) reported a 37% increase in fourth-quarter revenues to $14.7 million, reflecting a recovery from pandemic impacts. Full-year revenue totaled $43.1 million, a slight decline from $43.5 million in 2020. The Advanced Technologies Segment saw a 6% drop in revenues, while Industrial Services grew by 7%. Despite the growth, the company reported a net loss of $6.7 million for the year, although this was an improvement from a $8.9 million loss in 2020. Management expressed optimism for future growth driven by new product offerings across various technologies.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) will present at the Imperial Capital 2021 Security Investor Conference on December 15, 2021, at 2:15 PM ET. CEO Saagar Govil will discuss the company's security business outlook and ongoing initiatives. The conference will occur at the Intercontinental New York Barclay. A live audio webcast of the presentation will be available on the company’s website. For more details or registration, visit www.imperialcapital-sic.com.
Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW) announced the appointment of independent directors Chris Wagner and Manpreet Singh, CFA, to its Board of Directors, enhancing its compliance with NASDAQ's audit committee requirements. This appointment addressed previous non-compliance issues, as confirmed by Nasdaq, allowing for the cancellation of a scheduled hearing. Chris Wagner brings over a decade of experience in the video internet streaming industry, while Manpreet Singh offers vast investment management expertise. This leadership change is expected to bolster the company's strategic initiatives and shareholder value.
Cemtrex announced the launch of the SmartDesk Connect D, expanding compatibility for mid- to high-end laptops, including Apple M1 and select Microsoft Surface devices. This new version allows connection through standard USB-C ports, enhancing access for users previously restricted by Thunderbolt support. Priced at $2,299, the SmartDesk Connect D features three UHD 4K monitors, sit-stand functionality, and integrated sound. The innovative desk targets high-performing professionals seeking a versatile workstation. Orders can be placed online, now available in the contiguous US.
Cemtrex Inc. (CETX, CETXP, CETXW) provided a corporate update on October 12, 2021, highlighting improvements in demand as the economy reopens. CEO Saagar Govil announced investments in sales, marketing, and R&D to foster growth over the next two to three years. Key developments include a new NDAA-compliant camera line and enhancements to the SmartDesk product, despite some supply chain delays. The company also anticipates a beta release of its VR game, StarForceVR, in early 2022. Overall, Cemtrex is optimistic about its innovative roadmap within IoT, AR, VR, and AI for long-term growth.
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