Crown Reiterates Third Quarter Guidance and Provides Film Division Update
Crown Electrokinetics Corp. (NASDAQ:CRKN) has reiterated its Q3 2024 revenue guidance of $8 million, representing a 70% sequential increase. The company has made significant progress in its Film Division, overcoming hurdles in the Dynamic Tint™ film mastering technology. Crown is preparing for a three-phase product rollout strategy for its Smart Window Inserts:
1. Gen 1 Alpha: Targeted delivery to select customers in major US cities in the coming months.
2. Gen 1 Beta: Release in H1 2025 with additional features and integrated control ecosystem.
3. Charlie phase: Establish scalable manufacturing capability in H2 2025.
The company anticipates a full product release in 2026. CEO Doug Croxall expressed satisfaction with the progress and looks forward to providing regular updates on the rollout progress.
Crown Electrokinetics Corp. (NASDAQ:CRKN) ha ribadito le previsioni di fatturato per il terzo trimestre del 2024 pari a 8 milioni di dollari, rappresentando un incremento sequenziale del 70%. L'azienda ha fatto progressi significativi nella sua Divisione Film, superando ostacoli nella tecnologia di mastering del film Dynamic Tint™. Crown si sta preparando per una strategia di lancio del prodotto in tre fasi per i suoi Smart Window Inserts:
1. Gen 1 Alpha: Consegna mirata a clienti selezionati in importanti città statunitensi nei prossimi mesi.
2. Gen 1 Beta: Lancio nel primo semestre del 2025 con funzionalità aggiuntive e un ecosistema di controllo integrato.
3. Fase Charlie: Stabilire una capacità produttiva scalabile nel secondo semestre del 2025.
L'azienda prevede un lancio completo del prodotto nel 2026. Il CEO Doug Croxall ha espresso soddisfazione per i progressi e attende con interesse di fornire aggiornamenti regolari sui progressi del lancio.
Crown Electrokinetics Corp. (NASDAQ:CRKN) ha reiterado su pronóstico de ingresos para el tercer trimestre de 2024 de 8 millones de dólares, lo que representa un aumento secuencial del 70%. La empresa ha logrado avances significativos en su División de Películas, superando obstáculos en la tecnología de producción de películas Dynamic Tint™. Crown se está preparando para una estrategia de lanzamiento de productos en tres fases para sus Smart Window Inserts:
1. Gen 1 Alpha: Entrega selectiva a clientes en ciudades importantes de EE. UU. en los próximos meses.
2. Gen 1 Beta: Lanzamiento en el primer semestre de 2025 con características adicionales y un ecosistema de control integrado.
3. Fase Charlie: Establecer una capacidad de fabricación escalable en el segundo semestre de 2025.
La empresa anticipa un lanzamiento completo del producto en 2026. El CEO Doug Croxall expresó su satisfacción por los avances y espera proporcionar actualizaciones regulares sobre el progreso del lanzamiento.
Crown Electrokinetics Corp. (NASDAQ:CRKN)는 2024년 3분기 매출 예상치 800만 달러를 재확인했습니다, 이는 70%의 순차적 증가를 나타냅니다. 회사는 Dynamic Tint™ 필름 마스터링 기술에서의 장애물을 극복하며 필름 부문에서 상당한 진전을 이루었습니다. Crown은 Smart Window Inserts를 위한 3단계 제품 출시 전략을 준비하고 있습니다:
1. Gen 1 Alpha: 향후 몇 달 동안 주요 미국 도시의 선택된 고객에게 배송 예정.
2. Gen 1 Beta: 2025년 상반기에 추가 기능과 통합 제어 생태계를 갖춘 출시.
3. Charlie 단계: 2025년 하반기에 확장 가능한 제조 능력 구축.
회사는 2026년 전면 제품 출시를 예상하고 있습니다. CEO Doug Croxall은 진행 상황에 대해 만족을 표명하며 출시 진행 상황에 대한 정기적인 업데이트를 제공할 것을 기대하고 있습니다.
Crown Electrokinetics Corp. (NASDAQ:CRKN) a réitéré ses prévisions de revenus pour le troisième trimestre 2024 s'élevant à 8 millions de dollars, ce qui représente une augmentation séquentielle de 70%. L'entreprise a réalisé des progrès significatifs dans sa Division Film, surmontant des obstacles dans la technologie de mastering des films Dynamic Tint™. Crown se prépare à une stratégie de lancement de produit en trois phases pour ses Inserts de Fenêtres Intelligentes :
1. Gen 1 Alpha : Livraison ciblée à des clients sélectionnés dans les grandes villes américaines dans les mois à venir.
2. Gen 1 Beta : Lancement au premier semestre 2025 avec des fonctionnalités supplémentaires et un écosystème de contrôle intégré.
3. Phase Charlie : Établir une capacité de fabrication évolutive au second semestre 2025.
L'entreprise s'attend à un lancement complet du produit en 2026. Le PDG Doug Croxall a exprimé sa satisfaction quant aux progrès réalisés et se réjouit de fournir régulièrement des mises à jour sur l'avancement du lancement.
Crown Electrokinetics Corp. (NASDAQ:CRKN) hat seine Umsatzprognose für das 3. Quartal 2024 in Höhe von 8 Millionen US-Dollar bekräftigt, was einen 70%igen sequenziellen Anstieg darstellt. Das Unternehmen hat im Bereich Film erhebliche Fortschritte gemacht und dabei Hindernisse in der Dynamic Tint™ Filmproduktions-Technologie überwunden. Crown bereitet eine drei-phasige Produktstrategie für seine Smart Window Inserts vor:
1. Gen 1 Alpha: Gezielte Lieferung an ausgewählte Kunden in großen US-Städten in den kommenden Monaten.
2. Gen 1 Beta: Veröffentlichung im ersten Halbjahr 2025 mit zusätzlichen Funktionen und integrierten Steuerungsecosystem.
3. Charlie-Phase: Etablierung einer skalierbaren Fertigungskapazität im zweiten Halbjahr 2025.
Das Unternehmen erwartet eine vollständige Produkteinführung im Jahr 2026. CEO Doug Croxall äußerte Zufriedenheit mit den Fortschritten und freut sich darauf, regelmäßige Updates zum Fortschritt der Einführung zu geben.
- Q3 2024 revenue guidance of $8 million, representing a 70% sequential increase
- Significant progress in Dynamic Tint™ film mastering technology
- Three-phase product rollout strategy for Smart Window Inserts
- Planned full product release in 2026
- Full product release not expected until 2026, indicating a long timeline for potential revenue generation from new products
Insights
Crown's Q3 guidance reaffirmation of
Crown's progress in mastering technology for Dynamic Tint™ film is a significant technological milestone. The company's phased approach to product development and rollout - Alpha, Beta and Charlie - is a prudent strategy for a complex smart glass product. This method allows for iterative improvements based on real-world feedback, potentially reducing long-term risks. However, the extended timeline to full product release in 2026 suggests that the technology may still require substantial refinement. Investors should monitor the company's ability to meet its stated milestones, particularly the initial delivery of the Gen 1 Alpha product "in the coming months." The success of this rollout will be important in validating the commercial viability of Crown's smart glass technology.
Crown's focus on major cities for its initial product rollout is a strategic move to target high-value markets. The company's plan to work closely with select customers to define rollout plans demonstrates a customer-centric approach, which could lead to product improvements and stronger market fit. However, the smart glass market is competitive, with established players already present. Crown's success will depend on its ability to differentiate its product and demonstrate clear value propositions to building owners and managers. The extended timeline to full product release in 2026 may give competitors time to advance their own technologies, potentially eroding Crown's market opportunity. Investors should closely monitor customer adoption rates and feedback during the Alpha and Beta phases as indicators of long-term market potential.
LOS ANGELES, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in constructing fiber optic networks, today reiterated third quarter guidance and provided an update on progress within the Film Division.
Q3 2024 Guidance
Crown remains on track to deliver third quarter revenues of
Film Division Progress Update
In the first quarter, the development team overcame a significant hurdle in Crown’s mastering technology for the Dynamic Tint™ film. With the improved mastering process, the team has been working diligently to prepare the technology for production. The Company has made progress in testing and improving the insert designs as well as establishing the pilot capability to integrate the film into Crown’s Smart Window Inserts.
“I am pleased to report that significant progress in launching the Dynamic Tint™ film and Crown Smart Window Insert has been made throughout the year. The team continues to make strides towards the initial delivery of our Gen 1 Alpha product in the coming months which will commence our three-phase product rollout strategy,” stated Doug Croxall, Chairman and CEO.
The Gen 1 Alpha product release will include a targeted delivery focusing on a select group of customers in major cities across the US. Crown will work with the initial customers to define a rollout plan that maximizes the benefit of the Crown Smart Window Inserts within individual buildings and across their building portfolio. These customers will provide invaluable feedback to improve Crown’s products and the customer experience.
In the first half of 2025, Crown plans to release its Gen 1 Beta product with a second wave of features and a further integrated control ecosystem. During the Beta phase, Crown will finalize the first generation of its products in anticipation of larger manufacturing capacity.
In the latter half of 2025, the Company will enter its final rollout phase, the Charlie phase, where Crown plans to establish its scalable manufacturing capability. Establishing manufacturing capabilities is the last step before Crown’s full product release, which is anticipated for 2026.
“As we near the Alpha phase of our rollout strategy, our team is working through the many details required to successfully bring new products to market. Continuing into 2025, we are excited to release additional generations of our Smart Window Insert and expand our installations as we ramp up our manufacturing capacity. We look forward to providing regular updates on our rollout progress,” concluded Mr. Croxall.
Crown Electrokinetics Contact:
IR Email: info@crownek.com
FAQ
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