Crown Electrokinetics Corp. - CRKN STOCK NEWS

Crown Electrokinetics Corp. (NASDAQ: CRKN) has shared an update with shareholders highlighting recent advancements in their smart glass technology. The company has completed a prototype of its Generation 1.0 Smart Window Inserts, which is set to enter the US office building market by late summer. Crown has also established two new agreements in its fiber optics division, expanding its customer base to three major communication infrastructure providers across multiple US regions. The company anticipates significant revenue growth, estimating approximately $100 million from two key contracts. Legislative support from the Inflation Reduction Act and the Bipartisan Infrastructure Law is expected to bolster its market opportunities.

Crown Electrokinetics Corp. (NASDAQ: CRKN) reported its 2022 financial results, showing a net loss of $14.3 million, significantly reduced from a $37.2 million loss in 2021. The operating expenses totaled $15.1 million, with payroll and consulting costs leading the increase. The company raised $7.1 million in Q1 2023 and secured a line of credit for up to $100 million, enhancing financial flexibility. The acquisition of Amerigen 7 and rebranding to Crown Fiber Optics marks a strategic expansion with potential revenue growth from new agreements with major telecom companies estimated at $100 million.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced a significant agreement with a leading infrastructure solutions provider to expand its customer base and geographic coverage, particularly in the Southwest region. This multi-phased project is projected to generate up to $30 million in revenue, marking the company's third new customer acquisition in two months. Crown specializes in smart glass technology, distributed antenna systems, and fiber optic networks. CEO Doug Croxall expressed enthusiasm over the continuous expansion and upcoming projects. The forward-looking statements reflect management's expectations but are subject to various risks and uncertainties.

Crown Electrokinetics Corp. (NASDAQ: CRKN) announced it will report its fourth quarter and year-end 2022 financial results on March 31, 2023. The company specializes in smart glass technology and distributed antenna systems (DAS), along with fiber optic network construction. A conference call featuring CEO Doug Croxall and CFO Joel Krutz will occur that morning at 11:00 a.m. EST. Interested participants can join via a toll-free number or through an audio webcast. Crown emphasizes its expertise in smart glass solutions and is preparing to disclose its financial performance for the recent fiscal year.

Crown Electrokinetics Corp. (Nasdaq: CRKN) announced an update on its Nasdaq listing status following non-compliance with the minimum bid price requirement. The company received a notification on September 1, 2022, indicating its common stock traded below $1.00 for 30 days. After a grace period until February 28, 2023, the company failed to regain compliance. Consequently, it has requested a hearing to seek an extension, with the potential to extend the deadline until September 5, 2023. However, there is no certainty that the request will be granted or that compliance will be achieved.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has announced an agreement with a subsidiary of a major U.S. telecommunication infrastructure company, expanding its customer base and geographic coverage into Washington, with further plans for Oregon and California. CEO Doug Croxall stated that the new agreement adds a second customer for their fiber optics division, enhancing revenue opportunities and reducing customer concentration risk. This follows a recent asset purchase agreement with Amerigen 7 to enhance the marketing of distributed antenna systems and to generate cash flow from fiber optic network construction for Charter Communications.

Crown Electrokinetics Corp. (NASDAQ: CRKN) has secured a line of credit for up to $100 million, enhancing its ability to expand fiber optic projects in the Great Lakes region and beyond. CEO Doug Croxall noted that this funding will also support growth in the distributed antenna systems (DAS) market and further development of their Smart Window Insert product. The company recently acquired assets from Amerigen 7, expected to generate approximately $30 million in revenue and $10 million in EBITDA in 2023. Crown aims to address inefficiencies in building windows and improve cellular signal strength for clients.