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Remark Holdings, Inc. (OTC: MARK) is at the forefront of delivering advanced artificial intelligence (AI) solutions across a range of industries. Headquartered in Las Vegas, Nevada, the company has additional operations in Los Angeles, California, and several major cities in China including Beijing, Shanghai, Chengdu, and Hangzhou.
The company specializes in AI-driven video analytics and smart agent solutions that help organizations understand customer demographics and behavior. Their AI tools are instrumental in monitoring and responding to potential security threats in real-time. Remark's solutions are deployed across various sectors including government agencies, hospitality, public safety, retail, and transportation, ensuring they meet the stringent GDPR and CCPA compliance requirements.
One of the company's recent notable achievements is the transition of its shares to the OTC Pink Market, effective February 14, 2024. Remark is actively pursuing an OTCQX listing to further enhance investor access and liquidity.
Remark's strategic five-year partnership with Microsoft, announced in February 2024, is expected to generate $240 million in AI business by 2029. This collaboration will see Remark's AI video analytics platform marketed through the Microsoft Azure Marketplace, enabling rapid scaling and improved deployment of AI services.
Remark's AI innovations include the recently launched Aviation Safety Platform (ASP), designed to improve aircraft maintenance and safety performance. This platform addresses current aerospace industry challenges by leveraging AI to reduce inspection times and enhance anti-collision systems for aircraft towing.
The company has also made significant strides in the education sector, securing a $5 million one-year weapons detection contract with the Clark County School District, the fifth largest in the U.S. This contract, which includes options to extend for nine additional years, underscores Remark's capability to scale and provide dependable security solutions to large institutions.
Financially, Remark has been focused on building a global sales network to expand the reach of its AI platforms. The company anticipates that partnerships like the one with Microsoft will drive significant growth, with strategic initiatives already underway to penetrate various global markets.
Remark Holdings stands out as a leader in the AI analytics space, providing cutting-edge solutions that offer valuable insights and enhance operational efficiencies across multiple industries.
Remark Holdings, Inc. (NASDAQ: MARK) has partnered with Shryne Group, a leading cannabis company in California, to utilize Remark's Retail AI Platform. This collaboration aims to enhance customer service, marketing, and security at Shryne's retail dispensaries, starting with the flagship Stiiizy store in Los Angeles. CEO Kai-Shing Tao highlighted the potential growth in the cannabis market due to increasing legalization, while Shryne's CEO Brian Mitchell emphasized how adopting Remark's technology fuels their growth strategy in building a vertically-integrated cannabis business.
Remark Holdings, Inc. (NASDAQ: MARK) has announced the adjournment of its special shareholder meeting until May 27, 2021, at 1:00 p.m. ET. This decision was made to allow more time to solicit votes for a quorum. The new record date for stockholders eligible to vote is April 6, 2021, replacing the previous date of January 7, 2021. Stakeholders who had voted before and do not wish to change their votes need not act, while those who wish to change their votes or new stockholders must follow instructions on the newly issued proxy cards.
Remark Holdings reported fiscal year 2020 revenue of $10.1 million, more than doubling from $5.0 million in 2019. The fourth quarter alone generated nearly $5.0 million, a tenfold increase year-over-year. Growth was driven by demand for AI solutions in various sectors, especially in the U.S. Despite a $14.2 million operating loss, improvements were noted in gross profit margin, rising to 37%. The company plans to accelerate growth in 2021 through new partnerships and projects. Cash reserves improved to $0.9 million as of December 31, 2020, boosted by $32.1 million from stock issuances.
Remark Holdings, Inc. (NASDAQ: MARK) has scheduled a conference call for March 31, 2021, at 4:30 p.m. ET to discuss its fiscal year 2020 financial results. The call will provide insights into the company’s AI business developments in the U.S. and Asia, along with updates on monetization strategies for its Sharecare stake. The call will be accessible via phone and online, with replays available afterward. Investors can expect management to detail performance metrics and future outlook in this essential update.
Remark Holdings, Inc. (NASDAQ: MARK) will participate in the 33rd Annual ROTH Growth Conference from March 15-17, 2021. The virtual conference will host over 550 companies and attract 5,000 attendees, including institutional investors and analysts. Remark's CEO Kai-Shing Tao and other representatives will hold one-on-one meetings with investors during the event. An investor presentation will be available online on the first day of the conference. Remark Holdings specializes in AI solutions across various sectors, including retail and financial.
Remark Holdings, Inc. (NASDAQ: MARK) announced the adjournment of its special shareholder meeting to April 6, 2021, at 1:00 p.m. ET. The postponement aims to allow more time for soliciting votes to achieve a quorum. Remark Holdings provides AI solutions and operates digital media properties, focusing on retail, public safety, and workplace applications. The company has headquarters in Las Vegas and additional operations in Los Angeles and various cities in China.
Remark Entertainment, a division of Remark Holdings (NASDAQ: MARK), has been appointed as the exclusive marketing partner for SuperDraft, Inc., an online daily fantasy sports platform. This partnership aims to enhance SuperDraft's brand identity and marketing efforts. Remark Entertainment will utilize its expertise in AI and digital marketing to help SuperDraft grow within the rapidly expanding daily fantasy sports market. SuperDraft is set to launch its $1 million SuperMillion Big Game contest on February 7, 2021, with multiple cash prizes available to participants.
Remark Holdings, Inc. (NASDAQ: MARK) announced that a major Chinese bank has chosen its KanKan AI to upgrade operations at 150 branches in Sichuan Province, serving around 1.8 million customers. The deployment includes the Digital Marketing Platform (DMP), which integrates customer data from various sources to optimize marketing strategies. CEO Kai-Shing Tao emphasized the need for unified marketing approaches amid the COVID-19 pandemic. In 2021, KanKan AI plans to extend its services to four additional banks in Southwest China.
Remark Holdings, Inc. (NASDAQ: MARK) has been designated a Silver Partner by Hewlett Packard Enterprise (HPE) following extensive software testing on HPE platforms. This partnership will facilitate the joint marketing of AI solutions in sectors such as retail management, security, and health security. CEO Kai-Shing Tao emphasized the scalability of their computer vision technology when paired with HPE's advanced infrastructure. Remark plans to leverage this partnership to broaden its market reach, with expectations for additional sales channel partnerships in the near future.
Remark Holdings, Inc. (NASDAQ: MARK) announced the adjournment of its special shareholder meeting to February 23, 2021, at 1:00 p.m. ET. This decision was made to provide additional time to solicit votes necessary to achieve a quorum. The new record date for determining stockholders eligible to vote has been set to January 7, 2021, following the original record date of August 31, 2020. Stockholders who voted previously and do not wish to change their votes need take no action, while those who wish to alter their vote must follow instructions on the new proxy card.
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