Tempo Automation Holdings, Inc. - TMPO STOCK NEWS

Tempo Automation Holdings, Inc. has received a default notice from its senior lender consortium. The outstanding principal plus accrued and unpaid interest, plus late charges and fees and any costs incurred by the Lenders and reimbursable by the Company, was $29,065,017. In the event that the Company and its subsidiaries cannot cure or obtain a waiver from the Lenders, the Lenders may commence foreclosure proceedings to seize the Collateral, which could result in a dramatic decline in the value of the Company’s securities.

Tempo Automation Holdings, Inc. receives notification of deficiency from Nasdaq for not filing its Form 10-Q, which could affect its listing on Nasdaq Global Market. The company has 60 days to submit a plan to regain compliance and could be granted up to 180 days to regain compliance. The company intends to explore options to regain compliance.

Tempo Automation announces initiation of customer trials for upgraded customer portal, providing real-time feedback on price estimates and supply chain availability.

Tempo Automation Holdings, Inc. has announced its definitive agreement to acquire Optimum Design Associates, Inc. and Optimum Design Associates Pty. Ltd. The acquisition aims to streamline the hardware development journey and provide a more efficient way to get electronic products to market. The transaction is expected to close in Q2 2023.

Tempo Automation Holdings (Nasdaq: TMPO) announced participation in the 35th Annual Roth Conference on March 13, 2023. CEO Joy Weiss and CFO Ryan Benton will engage in 1-on-1 meetings, fireside chats, and thematic panels. This event includes over 400 companies from diverse sectors like Technology, Healthcare, and Sustainability.

Tempo Automation is a leader in software-accelerated electronics manufacturing, optimizing printed circuit board production through a fully automated platform. Their innovative approach allows partners in various industries, such as space and medical technology, to accelerate product development.

Tempo Automation Holdings (Nasdaq: TMPO) has enhanced its supply chain management services by upgrading its Accelerated Electronics Manufacturing Platform. The new inventory management system provides real-time visibility and tracking of electronic components across multiple projects, helping customers mitigate supply chain disruptions in the electronics sector. This upgrade allows for early securing of critical components, which aids in faster market entry and reduces redesign costs due to component shortages. Tempo's innovative solutions cater to various industries, supporting rapid product development.

Tempo Automation Holdings, Inc. (Nasdaq: TMPO, TMPOW) reported significant financial challenges for Q3 2022, with a revenue drop of 56% to $2.4 million and a net loss of $76.5 million due to financing costs. The nine-month period saw a 32% revenue decline to $9.1 million and an increased net loss of $96.5 million. The company is optimistic about future growth, forecasting 2023 revenue between $14 million and $17 million, supported by strategic software updates and marketing investments.