Vislink Technologies, Inc. - VISL STOCK NEWS

Vislink Technologies has appointed Donnie Gilliam as Vice President of Operations, effective June 19, 2024. Gilliam, who brings extensive experience in operations and service within high-growth companies, will focus on enhancing customer satisfaction, reducing costs, and improving working capital. Previously, he held key roles at HM Electronics, Clear-Com, and Spectralink , contributing significantly to their operational growth. Gilliam's expertise in lean manufacturing, quality, and supply chain management will be instrumental in optimizing Vislink’s operational efficiency and supporting its growth objectives. He is also a member of the Western Regional Board of the Association for Manufacturing Excellence (AME).

Vislink Technologies announced that on June 17, 2024, Donald Gilliam was granted 24,543 restricted stock units (RSUs) as an inducement to become the Vice President of Operations. These RSUs, granted outside the existing equity plans, are split equally between time-based and performance-based awards, as per Nasdaq Listing Rule 5635(c)(4). The time-based RSUs will vest over three years, while the performance-based RSUs will vest based on specific performance metrics set by the Board of Directors or Compensation Committee by August 31, 2024, contingent on Mr. Gilliam’s continued employment.

Vislink Technologies (Nasdaq: VISL) has launched the INCAM-GV RF and 5G wireless transmitters for Grass Valley's new LDX 135 RF and LDX 150 RF cameras. This marks a significant advancement in live production technology, offering enhanced production freedom, flexibility, and high image quality. The INCAM-GV supports HEVC 4K UHD and HDR-ready wireless systems, ensuring compatibility with various broadcast formats like 4K UHD, 1080p, 1080i, and 720p. This innovation promises high-quality, immersive viewing experiences for modern broadcasting. Vislink's INCAM-GV will be showcased at the SVG College Summit in Atlanta and Broadcast Asia in Singapore.

Vislink Technologies reported a 20% increase in total revenue to $8.6 million for Q1 2024, driven by a surge in sales to military and government customers. Gross margin improved from 54% to 59%, and net loss narrowed to $0.9 million from $1.8 million, or $0.39 per share from $0.80 per share. The company held $13.8 million in cash and short-term investments and $31.2 million in working capital as of March 31, 2024.

Operational highlights include increased sales to MilGov customers, launch of products like Air-to-Anywhere™ and DragonFly V, and growth in service/software revenue. The company also expanded its presence in the drone command and control market and received

Vislink Technologies, Inc. will report its first-quarter 2024 financial results on May 15, 2024, at 8:30 a.m. ET. The company specializes in live video and data management for media, law enforcement, and defense industries. A conference call will be held to discuss the results, and questions can be submitted in advance.

Vislink Technologies, Inc. introduces DragonFly V, an ultra-compact HEVC HDR COFDM transmitter, revolutionizing live video capture with its small size, weight, and powerful features. The transmitter offers high-definition HDR video transmission, low latency, and supports video formats up to 1080P-50/60 HDR. DragonFly V's versatility, energy-efficient design, and comprehensive control make it a game-changer in live broadcast technology, catering to various applications like sports, entertainment, and public safety.

Vislink Technologies, Inc. reports 75% year-over-year revenue growth in MilGov markets for 2023 and forecasts improved cash flow and significant revenue expansion in 2024. The company achieved key milestones such as acquiring Broadcast Microwave Services, launching Air-to-Anywhere™, solidifying presence in the drone market, increasing Software and Services revenue, and appointing a new Managing Director for its MilGov business. Financially, revenue increased to $8.1 million in Q4 2023, with a gross margin of 46%. For full year 2023, revenue was $27.5 million with a gross margin of 51%. Net loss improved to $(9.1) million in 2023. EBITDA totaled $(9.0) million, and cash and short-term investments were $14.2 million at the end of 2023.

Abu Dhabi Autonomous Racing League (A2RL) series, powered by Vislink Technologies, Inc. and Focal Point VR , revolutionizes motorsport entertainment with immersive technology. The partnership aims to redefine fan experience by merging virtual reality with wireless video transmission. The series kicks off on April 27th, 2024, at Yas Marina Circuit, featuring AI-driven Super Formula cars competing for a $2.25 million prize pool.

Vislink Technologies, Inc. to discuss financial results for Q4 and full year 2023 in upcoming conference call.