POLY - POLY STOCK NEWS

Poly has introduced its Studio X family of video bars, the first Android-based video appliances certified for Google Meet. Announced on October 26, 2022, these devices include the Studio X30, X50, X70, and the TC8 controller, enhancing audio and video quality for hybrid meetings. Features include Poly DirectorAI, NoiseBlockAI, and secure management via Poly Lens. The Studio X family aims to provide an immersive meeting experience for all participants and will be available globally in January 2023.

Poly has expanded its portfolio of Microsoft Teams certified solutions, enhancing meeting equity and collaboration across various workspaces. Key updates include the certification of the G7500 video conferencing system and upcoming certification of the Poly Studio X70 in November 2022. The company also offers improved Microsoft Teams Rooms on Windows experiences with features like Poly DirectorAI and a new promotional program called 'My First Room.' Additionally, new phone offerings such as the CCX 350 and Rove family aim to meet diverse organizational needs.

RapidAPI has launched the Poly API Marketplace, a centralized hub for developers to access APIs related to Poly's audio and video technology solutions. This initiative simplifies API management amid the complexities of hybrid work and cloud transitions. By providing complete visibility into available resources, the marketplace aims to streamline collaboration between Poly's developer community and partners, ultimately enhancing technology development speed. RapidAPI's unique platform empowers users to discover, connect, and integrate APIs with ease.

Poly (NYSE: POLY) reported Q1 results for the period ending July 2, 2022, with GAAP revenues of $416M, down 4% year-over-year, mainly due to supply chain issues. Headset revenue increased by 2% to $176M, while Voice revenue rose by 7% to $65M. Video revenues fell 11% to $123M, and Services revenue declined 14% to $52M. GAAP gross margins were 40.4%, and non-GAAP gross margins were 44.9%. Poly will not issue fiscal 2023 guidance due to an ongoing acquisition by HP Inc., valued at approximately $3.3 billion.

Ribbon Communications has partnered with Poly and TD SYNNEX to introduce the Get Connected bundle, designed to facilitate the adoption of Microsoft Teams for remote and hybrid work environments. This solution features Ribbon Connect and Poly's CCX 600 desk phones or P15 video bars, allowing seamless voice connectivity.
Available through TD SYNNEX, enterprises can test the solution free for 60 days, aiming to enhance employee productivity and engagement.

Poly (NYSE: POLY), a global leader in audio and video technology, announced that shareholders approved its merger with HP Inc.. Over 80% of outstanding shares voted in favor, signaling strong support for the deal. The acquisition is projected to close by the end of 2022, pending regulatory approvals and customary conditions. This merger aims to enhance Poly's capabilities in premium audio and video products, positioning it for future growth in the evolving tech landscape.

Poly (NYSE: POLY) reported its fourth-quarter fiscal 2022 results, revealing a GAAP revenue of $421M, a 12% decrease year-over-year due to supply chain issues. Voice revenue rose 13% but was overshadowed by declines in Headsets (-17%) and Video (-11%). For the full year, non-GAAP revenues fell 3%, despite a 14% increase in Video revenue. Gross margins also dropped 440bps to 45.1% due to higher logistics costs. Poly announced a merger with HP, valuing the deal at $3.3 billion. No fiscal 2023 guidance was provided due to the merger.

Poly (NYSE: POLY) released a report titled The Journey to Hybrid Working: Twelve Considerations, in collaboration with WORKTECH Academy. It addresses key challenges of hybrid working, focusing on people, technology, and spaces. The report reveals that 48% of surveyed organizations have adopted a hybrid model, but 37% lack long-term plans. It emphasizes the need for meeting equality and the importance of technology investments to facilitate a seamless hybrid experience. The findings will guide further research on optimizing hybrid working environments.