Welcome to our dedicated page for ClearOne (DE) news (Ticker: CLRO), a resource for investors and traders seeking the latest updates and insights on ClearOne (DE) stock.
ClearOne, Inc. (DE) Common Stock (symbol: CLRO) is a global leader in designing, developing, and selling innovative solutions for conferencing, collaboration, network streaming, and digital signage. With over 20 years in the business, ClearOne serves a wide range of organizations worldwide, including small enterprises, Fortune 1000 companies, as well as domestic and international governments and educational institutions.
Core Areas of Business:
- Conferencing: ClearOne dominates the professional conferencing market with over 54% global market share, specializing in audio conferencing technologies. Their advanced solutions offer unparalleled functionality, reliability, and scalability.
- Collaboration: The company develops products that enhance team collaboration, including DSP mixers, amplifiers, professional cameras, and microphones. These products are designed to meet the needs of various verticals such as education, healthcare, finance, and government.
- Network Streaming & Signage: ClearOne’s solutions for network streaming and digital signage provide robust performance for voice and visual communications. Their video walls and streaming technologies are widely used due to their reliability and high quality.
Recent Achievements and Financial Condition:
ClearOne continues to innovate, with a broad portfolio of award-winning products benefiting from their leadership in distributed echo cancellation, automatic microphone mixing, and signal processing. The company's financial health is reinforced by its comprehensive product demand across the United States and international markets.
ClearOne sells its commercial products primarily through a network of independent distributors who then offer these products to dealers, systems integrators, and other resellers. This strategic approach helps the company maintain a strong market presence and accessibility to various end-users.
ClearOne (NASDAQ: CLRO) has enhanced its BMA 360 Beamforming Microphone Array Ceiling Tile with a new Voice Lift feature for improved audio amplification in various environments like classrooms and meeting rooms. This new feature leverages ClearOne's advanced technologies, FiBeam™ and DsBeam™, to deliver exceptional sound quality and noise cancellation. The BMA 360 supports up to four Voice Lift zones, simplifying speaker group management. A free firmware upgrade will be available at the end of March 2021, maximizing return on investment for users while reducing overall system costs.
ClearOne (NASDAQ: CLRO) has launched its COLLABORATE® Space lifetime subscription messaging app, offering a free version with unlimited meeting time for up to ten participants. This app aims to facilitate audio and video conferencing, available on any device. CEO Zee Hakimoglu emphasized that the free offering is independent of other purchases and focuses on user privacy, with no data trading. Additionally, paid subscription options start at $8.25 monthly. The app also includes messaging, screen sharing, and a CO2 savings report.
ClearOne (NASDAQ: CLRO) announced a significant legal win on February 8, 2021, as the U.S. District Court of Delaware denied Shure Incorporated's motion for a preliminary injunction against the sale of ClearOne's Ceiling Tile Beamforming Mic Array products. This ruling allows ClearOne to continue offering its innovative audio solutions, which include the BMA CT and BMA CTH products. ClearOne's Chair and CEO, Zee Hakimoglu, emphasized the importance of this decision in combating Shure's litigation tactics while underscoring the company's commitment to advancing its product lineup in the market.
ClearOne (NASDAQ: CLRO) has launched two new cameras aimed at enhancing online collaboration. The UNITE® 10 is the most affordable model, featuring 1080p quality and a wide field of view. The UNITE 50 4K AF offers advanced features like Auto-Framing and 4K video quality, catering to executives and office managers. Both cameras are compatible with major web conferencing platforms and promote ClearOne's COLLABORATE Space, a comprehensive collaboration tool. The new offerings reflect the company's commitment to providing high-quality video solutions for remote work.
ClearOne (NASDAQ: CLRO) has announced a partnership with ADI Global Distribution to distribute its full line of professional audio, video, and collaboration solutions in the U.S. market. The demand for high-quality communication tools is rising due to the shift towards hybrid work environments. This collaboration enables ClearOne to reach a broader audience, including corporations, schools, and remote professionals. ADI's extensive inventory and expert services will enhance accessibility for customers across various sectors, supporting their project needs and training requirements.
ClearOne (NASDAQ: CLRO) has announced a new partnership with Chromasound PLC, a leading AV distributor in Hungary, to expand its presence in the Eastern European audio-visual markets. This collaboration aims to leverage Chromasound's established market reach to introduce ClearOne's full suite of audio conferencing, visual collaboration, and AV networking solutions. ClearOne's CEO, Zee Hakimoglu, expressed optimism about the partnership, while Chromasound’s CEO, Imre Makkay, highlighted the enhancement of their integrated audio and video solutions.
ClearOne (NASDAQ: CLRO) has announced a new partnership with Redington, aimed at enhancing its distribution of Audio Conferencing, Visual Collaboration, and AV Networking solutions in the Middle East. This collaboration comes amid growing demand for unified communication solutions across the region. Redington will leverage its extensive network of System Integrators and IT resellers to deliver ClearOne's offerings, thereby strengthening the company's market presence and ability to cater to businesses seeking advanced communication tools.
ClearOne (NASDAQ:CLRO) announced that its BMA 360 Beamforming Microphone Array Ceiling Tile has won the 2020 Innovation Product Award from Sound & Video Contractor. This honor confirms the product's market success and unique value in various verticals. The BMA 360 features advanced beamforming technology, delivering high-quality audio with its FiBeam™ and DsBeam™ capabilities. Additionally, it includes 6G Acoustic Echo Cancellation for superior audio performance, enhancing conferencing experiences. The product's design simplifies installation and reduces system costs by allowing daisy-chaining and improved configuration.
ClearOne (NASDAQ: CLRO) has launched Aura, a series of professional audio and video collaboration solutions aimed at remote working professionals. With the shift to home offices, 88% of employers now support remote work, yet only 18% of employees have the necessary infrastructure. Aura packages provide enterprise-quality audio and video technology, designed for easy installation and optimized for home office environments. The solutions promise improved productivity, collaboration, and communication for remote workers, aligning with the growing demand for quality home office setups.
ClearOne (NASDAQ: CLRO) reported Q3 2020 revenues of $8.4 million, a 40% increase year-over-year and a 31.3% increase sequentially. Gross profit rose 39% to $3.5 million, with a gross margin of 41.8%. Despite revenue growth, audio conferencing product revenue remains low due to ongoing patent infringements. The company reported a net loss of $1.3 million ($0.07 per share), improving from $2.0 million loss YOY. Legal victories against Shure bolster ClearOne’s position on intellectual property rights, as they aim for further recovery.
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