View, Inc. - VIEWW STOCK NEWS

View, Inc. settles SEC investigation without penalties for restated warranty-related accruals. No ongoing undertakings. Restated year-end 2019 warranty liability: $53 million. Restated year-end 2020 warranty liability: $48 million.

View, Inc. (Nasdaq: VIEW) has announced a reverse stock split of its Class A common stock to regain compliance with Nasdaq's listing rules. The split is subject to stockholder approval and the company has until August 14, 2023, to regain compliance. The reverse stock split is expected to make View's common stock more attractive to investors. The company plans to seek stockholder approval at its upcoming 2023 annual meeting.

View, Inc. (Nasdaq: VIEW) plans to report Q1 2023 financial results after the market close on May 9th and will host a conference call to discuss the results. A live webcast of the call will be available on View's Investor Relations website.

View, Inc. achieved a record annual revenue of $101 million for 2022, marking a 37% year-over-year growth from $74 million in 2021. Q4 2022 revenue reached $44 million, a 56% increase compared to Q4 2021. The company launched its residential product line and secured Investment Tax Credits for its smart windows. Additionally, View completed $212 million financing through convertible senior notes and ended the year with $198 million in cash and equivalents. Focused on profitability, View plans to reduce structural costs, expecting savings of $50 million annually.

View, Inc. has commenced construction on Phase I of the Hamilton Green project in White Plains, NY, a significant mixed-use development. This phase includes two towers with a total of 470 residential units and 27,000 SF of commercial space. View's Smart Windows, featuring 185,000 SF of smart glass, will enhance energy efficiency and occupant comfort. The project is strategically located near the White Plains Metro North Train Station and is set for completion in 2025. The installation qualifies for the 30%-50% Investment Tax Credit, which is expected to bolster adoption of smart technologies. This development marks View's largest multifamily project to date.

View, Inc. (Nasdaq: VIEW) announces its Smart Windows will be utilized in Phase II of the Charlotte Douglas International Airport (CLT) Concourse A expansion. Following a successful installation in Phase I in 2018, the new project will cover 189,000 square feet and add ten gates across three levels. View Smart Windows enhance passenger experience by increasing natural light while reducing glare and energy consumption. A study indicated that passengers reported 68% higher satisfaction rates in areas with View Smart Windows. This installation marks another step in View's growing footprint in the aviation sector, reinforcing its commitment to innovation in smart building technology.