Vislink Technologies, Inc. - VISL STOCK NEWS

Vislink (NASDAQ: VISL) announced a new order exceeding $4 million from the U.S. Department of Defense for handheld intelligence, surveillance, and reconnaissance (ISR) devices. This order showcases Vislink's continued partnership with the military, emphasizing the demand for its rugged, lightweight receivers that deliver real-time, high-resolution video from aerial platforms. The company's ultra-low latency equipment enhances situational awareness across various applications, solidifying its position as an industry leader.

Vislink (NASDAQ: VISL) has appointed Joe Carson as Vice President of Global Operations and Service to enhance supply chain efficiency and expand its services portfolio. He will collaborate closely with CEO Mickey Miller and the executive team. Carson, an accomplished supply chain leader, previously held key roles at Micron Technology, Lucent Technologies, and Juniper Networks. His expertise aligns with Vislink's goal to support its Connected Edge concept and pursue operational growth.

Vislink Technologies (NASDAQ: VISL) has successfully completed a registered direct offering, raising approximately $50 million from the sale of 18,181,820 shares of common stock and warrants to purchase up to 9,090,910 shares at $2.75 each.

A.G.P./Alliance Global Partners acted as the sole placement agent, and the offering was executed under an effective shelf registration statement with the SEC. This funding aims to bolster Vislink's operations in high-quality live video technology, impacting its market presence and potential growth.

Vislink (NASDAQ: VISL) has secured a significant contract with Asharq News, a 24/7 Arabic television network, to supply six Mantis MSAT satellite antennas. This deal will enhance low-latency financial news transmission throughout key Arab capitals including Riyadh, Cairo, and Abu Dhabi. CEO Mickey Miller emphasized the contract's importance in providing unprecedented access to economic news in the region. The Mantis MSAT antennas feature rapid deployment capabilities, operational within five minutes, making them ideal for extreme environments.

Vislink Technologies (NASDAQ: VISL) announced a definitive agreement for a registered direct offering of 18,181,820 shares and warrants to purchase an additional 9,090,910 shares at $2.75 per share. The warrants will be exercisable at $3.25, expiring in five years. This offering is slated to close around February 8, 2021, contingent on customary conditions. A.G.P./Alliance Global Partners is the sole placement agent, and the offering follows an SEC-approved shelf registration statement.

Vislink (NASDAQ: VISL) has announced the launch of its new DVE6100 encoder, enhancing satellite bandwidth efficiency for network operators. The DVE6100 utilizes advanced HEVC video compression and DVB-S2X satellite modulation technology, achieving a 50% reduction in leased satellite bandwidth costs compared to previous technologies. This allows broadcasters to maximize payload data rates while minimizing transmission expenses. The DVE6100 supports various resolutions, including 4K, and can encode multiple channels simultaneously, offering significant operational cost savings and improved content delivery capabilities.

Vislink (Nasdaq: VISL) has launched the IP Link 3.0, an ATSC 3.0 advanced Studio-Transmitter Link system designed to enhance broadcasting quality. This system facilitates higher audio and video quality, interactivity, and engages viewers with immersive experiences. It also offers low-cost deployment and robust RF links, enabling broadcasters to explore new revenue streams amidst challenges posed by the global pandemic. Furthermore, it includes a public safety feature for emergency alerts and supports remote education, catering to underserved areas.

Vislink Inc. (Nasdaq: VISL) has announced its membership in the Grass Valley Technology Alliance (GVTA), enhancing its product offerings and expanding its customer base. The GVTA certification program, initiated in 2019, provides customers with increased purchasing confidence by ensuring interoperability of systems with Grass Valley products. Vislink aims to leverage this partnership to deliver compelling content amid ongoing viewer isolation during the pandemic. The company offers the INCAM-HG Integral Wireless Camera Transmitter, a state-of-the-art solution for live video broadcasting.

Vislink Technologies, Inc. (Nasdaq: VISL) reported Q3 2020 revenues of $4.8 million, down from $5 million in Q3 2019. The net loss was $2.8 million ($0.17 per share) compared to a loss of $5 million ($2.41 per share) in the prior year. EBITDA improved to a negative $2.4 million from a negative $4.7 million. Cash on hand at the end of Q3 was $3.1 million, with gross margins at 31.8%. The CEO cited pandemic-related challenges impacting demand and supply chains but noted cost-saving measures achieving $5 million in expected savings. Positive product innovations were introduced, with optimism for future growth.