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NeuroMetrix Reports that Quell(R) Wearable Neuromodulation Device has Received FDA De Novo Authorization as First Non-Pharmacological Treatment for Fibromyalgia
2022-05-19 09:00:03 AM ET (GlobeNewswire)
EQNX::TICKER_START (NASDAQ:NURO), EQNX::TICKER_END NeuroMetrix, Inc. (Nasdaq: NURO) today announced U.S. Food and Drug Administration (FDA) De Novo authorization to market the Quell neuromodulation device as an aid for reducing the symptoms of fibromyalgia in adults with high pain sensitivity. The Company received FDA Breakthrough Designation for the use of Quell to treat fibromyalgia in July 2021.
Fibromyalgia is a chronic condition characterized by generalized pain, fatigue, poor sleep, memory and concentration impairments, mood disorders and other disabling symptoms. These individuals experience low health-related quality of life and are twice as likely to be hospitalized as someone without fibromyalgia. The prevalence of fibromyalgia is estimated to be 2 to 6 percent of the U.S. adult population (5 to 15 million people). The cause of fibromyalgia remains unclear, but scientific studies point to abnormalities in the way the central nervous system processes normal sensations and pain. Although a number of drugs are used to treat fibromyalgia only pregabalin, duloxetine and milnacipran have been approved by the FDA. These drugs are associated with side effects and generally poor adherence. Prior to Quell, the FDA had not approved or cleared any medical devices for treatment of fibromyalgia.
The data submitted by NeuroMetrix in support of the De Novo request included results from a double-blind, randomized, sham-controlled trial (NCT03714425). A total of 119 subjects with fibromyalgia were enrolled and randomized to a standard (active) or modified (sham) Quell device for 3-months of at-home use. In a pre-specified subgroup analysis of subjects with high pain sensitivity (N=60), Patient Global Impression of Change (PGIC) was 1.25 (95% CI [0.25, 2.24]) points higher in the active arm compared to the sham arm (p=0.015). PGIC was the primary study outcome measure and represents a subject's overall belief about the efficacy of treatment on a 7-point categorical scale. The high pain sensitivity subgroup was defined based on Quantitative Sensory Testing and should represent the majority of fibromyalgia patients in real-world practice.
In the intention-to-treat (ITT) analysis of all randomized subjects (N=119), multiple secondary outcome measures were positive. For example, 57% of those on active treatment exhibited a clinically meaningful improvement in health-related quality-of-life (Fibromyalgia Impact Questionnaire, FIQR) compared to 34% that received sham treatment (p=0.014). Subjects in the active treatment arm reported statistically significant improvements in 19 of the 21 symptoms comprising the FIQR instrument, including pain, sleep, fatigue, balance and the ability to carry out typical daily activities. Some of the trial results were published in the Journal of Pain Research recently.
A total of 9 adverse events were reported during the study and deemed to be definitely or possibly related to device use (4 in active arm, 5 in sham arm). All events were minor and self-limited. The most common occurrence was a rash under the Quell electrodes.
"There is an unmet need for effective and safe fibromyalgia treatments. Receiving this De Novo authorization is a key milestone towards the Company's goal of making Quell available as a prescription treatment option for people living with fibromyalgia," said Shai N. Gozani, M.D., Ph.D., Chief Executive Officer, NeuroMetrix. "We believe physicians treating patients with fibromyalgia will be interested in Quell's potential clinical benefits and safety profile. Our initial commercialization efforts will focus on rheumatologists and pain medicine physicians. We anticipate launching in the fourth quarter, with initial prescriptions processed by an online pharmacy partner before the end of this year."
NeuroMetrix was advised by MCRA, LLC in this submission.
Indications
Quell Fibromyalgia is a transcutaneous electrical nerve stimulation (TENS) device indicated as an aid for reducing the symptoms of fibromyalgia in adults with high pain sensitivity. The device may be used during sleep. The device is labeled for use only with compatible NeuroMetrix electrodes.
Limitations
The sale, distribution, and use of Quell Fibromyalgia is restricted to prescription use in accordance with 21 CFR 801.109. Many participants in the clinical study were also taking medication for fibromyalgia and it was difficult to assess the effects of the device compared to medication.
The product labeling should be reviewed for a complete list of contraindications, precautions and warnings.
About Quell Technology
Quell is an advanced, non-invasive, neuromodulation technology that is covered by 23 U.S. utility patents. It is the only wearable neuromodulator that is enabled by a proprietary microchip that provides precise, high-power nerve stimulation in a form factor the size of a credit card. Quell utilizes position and motion sensing to automatically adjust stimulation for an optimal user experience both day and night. The device supports Bluetooth low energy (BLE) to communicate with mobile apps for multiple smartphone and smartwatch platforms.
About NeuroMetrix
NeuroMetrix is an innovation-driven company with a mission to improve individual and population health through innovative medical devices and technology solutions for neurological disorders and pain syndromes. The Company has three commercial products. DPNCheck is a diagnostic device that provides rapid, point-of-care detection of peripheral neuropathies. ADVANCE is a diagnostic device that provides automated, in-office nerve conduction studies for the evaluation of focal neuropathies. Quell is a wearable neuromodulation technology indicated for treatment of fibromyalgia symptoms and chronic lower extremity pain. For more information, visit www.NeuroMetrix.com.
Source: NeuroMetrix, Inc.
Thomas T. Higgins
SVP and Chief Financial Officer
781-314-2761
neurometrix.ir@neurometrix.com
DraftKings Launches Mobile Sportsbook and iGaming Products in Ontario
2022-05-18 01:00:01 PM ET (GlobeNewswire)
EQNX::TICKER_START (NASDAQ:DKNG), EQNX::TICKER_END DraftKings Inc. (Nasdaq: DKNG) today announced the launch of its online sportsbook and online casino products in Ontario, Canada. DraftKings will deliver customers in Ontario a best-in-class sports betting experience through its top-rated sportsbook app, as well as more than 130 online casino game variations through DraftKings Casino such as baccarat, blackjack, roulette and slots.
The DraftKings Sportsbook will provide Ontarians with legal and regulated opportunities to place bets across various sports leagues and sporting events, including the 2022 NHL Playoffs, Major League Baseball, Major League Soccer, this year's highly anticipated FIFA World Cup and more. Customers in Ontario will be able to enjoy an array of parlay options, including DraftKings' same-game-parlay feature - all available at their fingertips through the user-friendly DraftKings Sportsbook app.
"DraftKings' entry into Canada with our online sportsbook and online casino products is a significant milestone in our expansion efforts as we reach nearly 40-percent of Canada's total population," said Jason Robins, DraftKings co-founder, chairman and CEO. "We look forward to providing the passionate fanbase in Ontario with the most entertaining and responsible gaming experience possible."
DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine, and innovate through the DraftKings S.E.R.V.E.S. program, with a focus on Service, Equity, Responsible Gaming, Vitality, Entrepreneurship, and Sports. Responsible gaming is a key pillar of the DraftKings S.E.R.V.E.S. program and DraftKings' collective mission is to protect consumers with groundbreaking technology, employee training, resources for customers, and the support of evidence-based research.
Eligible fans can find the latest betting markets and more by downloading the DraftKings Sportsbook app available via iOS and Android here. To become a DraftKings Dynasty Rewards member visit sportsbook.draftkings.com/dynasty.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming in 5 states through its DraftKings brand, as well as operating Golden Nugget Online Gaming, an award-winning iGaming product and iconic gaming brand, in 3 states. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states and in Ontario, Canada.
DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company.
DraftKings Reports First Quarter Revenue of $417 Million; First Quarter B2C Segment Revenue Increases 44% YOY and Company-Wide Adjusted EBITDA Exceeds Midpoint of Guidance by More Than 12%
2022-05-06 07:00:57 AM ET (GlobeNewswire)
EQNX::TICKER_START (NASDAQ:DKNG), EQNX::TICKER_END DraftKings Inc. (Nasdaq: DKNG) ("DraftKings" or the "Company") today reported its first quarter 2022 financial results.
First Quarter 2022 Highlights
For the three months ended March 31, 2022, DraftKings reported revenue of $417 million, an increase of 34% compared to $312 million during the same period in 2021. Revenue for the Company's B2C segment grew to $404 million, an increase of 44% compared to the three months ended March 31, 2021. Adjusted EBITDA outperformed the midpoint of the guidance for the first quarter of 2022 previously provided by DraftKings during its fourth quarter earnings conference call on February 18, 2022 by more than 12%.
"DraftKings delivered significant growth across our key revenue and performance metrics," said Jason Robins, DraftKings' co-founder, Chief Executive Officer and Chairman of the Board. "We are not seeing any impact from inflationary pressures on customer demand, and we continue to improve the user experience by adding breadth and depth to our DFS, mobile sports betting and iGaming products. We are also improving our efficiency in acquiring and retaining customers and have a strong pipeline of new jurisdictions to enter."
Jason Park, DraftKings' Chief Financial Officer, added, "We are pleased with our strong revenue and Adjusted EBITDA performance in the first quarter, which was driven by healthy underlying customer behavior and our ability to capture efficiencies. Therefore, we are increasing the midpoint of our fiscal year 2022 revenue guidance by $50 million and improving the midpoint of our fiscal year 2022 Adjusted EBITDA guidance by $75 million."
Continued Healthy Growth in Player Retention, Acquisition and Engagement
Increasing Midpoint of 2022 Revenue Guidance and Improving 2022 Adjusted EBITDA Guidance
Expanded Mobile Sports Betting and iGaming Footprint
Product Functionality and Content
Environmental, Social and Governance Initiatives
Webcast and Conference Call Details
DraftKings will host a conference call and audio webcast today at 8:30 a.m. EST, during which management will discuss the Company's results for the quarter and provide commentary on business performance. A question and answer session will follow the prepared remarks.
The conference call may be accessed by dialing (866) 374-5140. Once connected with the operator, please provide the conference ID of 27620336.
A live audio webcast of the earnings conference call will be available on the Company's website at investors.draftkings.com, along with a copy of this press release, the Company's Quarterly Report on Form 10-Q, and a slide presentation. The audio webcast and accompanying presentation will be available on the Company's investor relations website until 11:59 p.m. EST on June 14, 2022.
Non-GAAP Financial Measures
This press release includes Adjusted EBITDA, which is a non-GAAP financial measure that DraftKings uses to supplement its results presented in accordance with U.S. GAAP. The Company believes Adjusted EBITDA is useful in evaluating its operating performance, similar to measures reported by its publicly-listed U.S. competitors, and regularly used by security analysts, institutional investors and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA is not intended to be a substitute for any U.S. GAAP financial measure, and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.
DraftKings defines and calculates Adjusted EBITDA as net loss before the impact of interest income or expense (net), income tax provision or benefit, depreciation and amortization, and further adjusted for the following items: stock-based compensation, transaction-related costs, litigation, settlement and related costs, gain or loss on remeasurement of warrant liabilities, and certain other non-recurring, non-cash or non-core items, as described in the reconciliation below.
DraftKings includes non-GAAP financial measures because they are used by management to evaluate the Company's core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Adjusted EBITDA excludes certain expenses that are required in accordance with U.S. GAAP because they are non-recurring items (for example, in the case of transaction-related costs), non-cash expenditures (for example, in the case of depreciation and amortization, remeasurement of warrant liabilities and stock-based compensation), or are not related to the Company's underlying business performance (for example, in the case of interest income and expense and litigation, settlement and related costs).
The table below presents the Company's Adjusted EBITDA reconciled to its net loss, which is the most directly comparable financial measure calculated in accordance with U.S. GAAP, for the periods indicated:
â?? Three months ended March 31,
(amounts in thousands) 2022 2021
Net loss $ (467,693 ) $ (346,344 )
Adjusted for:
Depreciation and amortization (1) 32,225 28,193
Interest income, net (148 ) (985 )
Income tax provision (benefit) 469 (4,595 )
Stock-based compensation (2) 187,077 151,843
Transaction-related costs (3) 3,774 3,023
Litigation, settlement, and related costs (4) 1,950 622
(Gain) loss on remeasurement of warrant liabilities (12,681 ) 26,980
Other non-recurring costs and non-operating (income) costs (5) (34,482 ) 2,001
Adjusted EBITDA $ (289,509 ) $ (139,262 )
(1) The amounts include the amortization of acquired intangible assets of $19.2 million and $19.1 million for the three months ended March 31, 2022 and 2021, respectively.
(2) Primarily reflects stock-based compensation expenses resulting from the issuance of awards under long-term incentive plans.
(3) Includes capital markets advisory, consulting, accounting and legal expenses related to evaluation, negotiation and integration costs incurred in connection with pending or completed transactions and offerings.
(4) Primarily includes external legal costs related to litigation and litigation settlement costs deemed unrelated to the Company's core business operations.
(5) Primarily includes the change in fair value of certain financial assets, as well as the Company's equity method share of the investee's losses and other costs relating to non-recurring items.
Information reconciling forward-looking fiscal year 2022 Adjusted EBITDA guidance to its most directly comparable U.S. GAAP financial measure, net income (loss), is unavailable to DraftKings without unreasonable effort due to, among other things, certain items required for such reconciliations being outside of DraftKings' control and/or not being able to be reasonably predicted. Preparation of such reconciliations would require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with U.S. GAAP, and such forward-looking financial statements are unavailable to the Company without unreasonable effort. DraftKings provides a range for its Adjusted EBITDA forecast that it believes will be achieved; however, the Company cannot provide any assurance that it can predict all of the components of the Adjusted EBITDA calculation. DraftKings provides an Adjusted EBITDA forecast because it believes that Adjusted EBITDA, when viewed with Dr aftKings' results calculated in accordance with U.S. GAAP, provides useful information for the reasons noted above. However, Adjusted EBITDA is not a measure of financial performance or liquidity under U.S. GAAP and, accordingly, should not be considered as an alternative to net income (loss) or cash flow from operating activities or as an indicator of operating performance or liquidity.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming in 5 states through its DraftKings brand, as well as operating Golden Nugget Online Gaming, an award-winning iGaming product and iconic gaming brand, in 3 states. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKin gs is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network (VSiN), a multi-platform broadcast and content company.
Deutsche Bank Discusses Lithium Americas' Planned US Asset Separation
2022-04-13 09:28:10 AM ET (MT Newswires)
09:28 AM EDT, 04/13/2022 (MT Newswires) -- Deutsche Bank said Wednesday that it discussed the potential US asset separation of Lithium Americas Corp. (LAC.TO) during its Fireside Chat with CEO Jon Evans.
Deutsche Bank said the potential spinoff is driven by the company's increased focus on establishing a domestic lithium production and supply chain.
This comes as the US and many countries are focused on reshoring lithium production and establishing a domestic supply chain.
There has been an increased interest in local production over the last six to 12 months, which has been the driver for Lithium Americas to explore an asset separation, according to Deutsche Bank.
Draftkings Positive Group Dynamics Supports Long-term Margin Targets if More States Legalize Gambling, Oppenheimer Says
2022-04-11 03:46:33 PM ET (MT Newswires)
03:46 PM EDT, 04/11/2022 (MT Newswires) -- DraftKings' (DKNG) positive group dynamics makes it likely for the digital sports entertainment and gaming company to achieve its long-term margin targets if more US states legalize gambling, Oppenheimer said in a note to clients.
"Based on our analysis, and assuming cooperative legislation, we see a path to DKNG achieving its long-term 30%-plus EBITDA margin target," Oppenheimer analyst Jed Kelly wrote.
The firm also believes that DraftKings' "competencies in product development and customer acquisition" that helped it become the market leader in daily fantasy sports will give it a key role in "accelerating the shift in US sports betting from [about $150 billion] wagered illegally/offshore to licensed domestic operators."
Oppenheimer is anticipating DraftKings to gain around 25% to 30% market share as the legal sports betting industry grows approximately 34% annually.
The firm maintained its outperform rating on the company, with a price target of $32.
DraftKings, Mashantucket Pequot Tribal Nation and Foxwoods Resort Casino to Expand Relationship, Paving the Way to Bring DraftKings Sportsbook to Puerto Rico
2022-04-04 08:00:03 AM ET (GlobeNewswire)
DraftKings (NASDAQ: DKNG) and the Mashantucket Pequot Tribal Nation today announced they have agreed to a deal to expand their relationship and pave the way to offering the DraftKings online and retail sports betting experience in Puerto Rico, subject to applicable licenses and regulatory approvals being obtained. The announcement comes following Foxwoods and DraftKings having successfully launched sports betting and iGaming in Connecticut on October 19, 2021.
The DraftKings retail sportsbook will be located inside the Foxwoods El San Juan Casino and is expected to open in the coming weeks, pending receipt of applicable licenses and regulatory approvals. Once complete, the space will feature a massive video wall, bar and dining services, two over the counter ticket windows and six betting kiosks.
"Since establishing our relationship with the Mashantucket Pequot Tribal Nation and Foxwoods more than a year ago, we've seen immense success, which can be attributed to the collaborative efforts between the organizations and shared vision for providing customers with the very best," said Matt Kalish, President of DraftKings North America and co-founder. "Puerto Rico is known for its rich and vibrant sports culture, and we look forward to being able to provide fans with a safe and legal form of sports betting through our retail and online sportsbooks."
In January 2021, the Mashantucket Pequot Tribal Nation and Foxwoods announced plans to reopen the iconic El San Juan Casino as the "Foxwoods El San Juan Casino". The redevelopment of the luxurious casino destination included $137.5 million in resort enhancements, including the reopening of the renowned Tropicoro entertainment venue.
"We have made tremendous strides in the sports betting space in our relationship with DraftKings, who has continued to be a valuable partner, through our online and retail experiences in the state of Connecticut," said Mashantucket Pequot Tribal Nation Chairman Rodney Butler. "As we expand our partnership with DraftKings to the beautiful island of Puerto Rico at the Foxwoods El San Juan Casino, we are confident that we will continue to create unforgettable memories for customers and sports fans alike."
In addition to online and retail sports betting, DraftKings will have the opportunity, pending receipt of applicable licenses and regulatory approvals, to provide customers in Puerto Rico with its legacy daily fantasy sports product, which is currently available in 44 states in the United States and operational in six countries internationally.
More information about ways to play with Foxwoods and DraftKings is available at www.foxwoods.com or fans can download the Foxwoods and DraftKings mobile app via iOS and Android.
DraftKings, the Mashantucket Pequot Tribal Nation and Foxwoods take responsible gaming seriously. An active member of the American Gaming Association, DraftKings has committed to promoting the association's Have A Game Plan. Bet Responsibly(TM) public service campaign, which teaches customers responsible gaming best practices such as setting a budget and sticking to it and only playing with legal, regulated operators. Similarly, the Mashantucket Pequot Tribal Nation and Foxwoods are committed to supporting the development of awareness and prevention programs for problem gaming - including operating the first self-exclusion program in the United States. Additionally, DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine, and innovate through the DraftKings S.E.R.V.E.S. program.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
About Foxwoods Resort Casino
As the largest resort casino in North America, Foxwoods Resort Casino offers guests a premier destination resort experience throughout its six world-class casinos; AAA Four-Diamond hotels featuring over 2,200 rooms; dining options for all tastes; luxurious spas; award-winning golf; state-of-the-art theaters; Tanger Outlet Mall; conference space for groups of all sizes; and free online casino games at FoxwoodsONLINE.com. There is always something new at Foxwoods, most recently the arrival of Foxwoods Extreme Adventures. Adventure knows no limit as guests can zipline or race around on a European-style indoor karting track. Foxwoods Resort Casino truly is The Wonder Of It All, providing a personalized and exciting escape for everyone. Foxwoods, opened in 1992, is owned and operated by the Mashantucket Pequot Tribal Nation. For a detailed look at Foxwoods Resort Casino and Mashantucket Pequot Tribal Nation visit Foxwoods.com.
About the Mashantucket Pequot Tribal Nation
The Mashantucket (Western) Pequot Tribal Nation is a federally recognized Indian tribe located at one of America's oldest Indian reservations, Mashantucket, in Southeastern Connecticut. As pioneers of the Indian Gaming casino industry, the history of the Mashantucket Pequots reveals one of America's greatest come-back stories, featured at the Tribe's world renowned Mashantucket Pequot Museum. Today, the Tribe owns and operates one of the largest Integrated Resort Casino destinations in North America, Foxwoods Resort Casino, along with a variety of complementary businesses including a world-class golf course, luxury spa, Pequot Pharmaceutical Network, and Pequot Plus Health Benefit Services. As one of Connecticut's highest revenue contributors and largest employers, the Mashantucket Pequots have provided the state more than $4 billion in slot revenue through a first-of-its-kind agreement, established in 1993. Likewise, the Tribe has contributed hundreds of millions in donations and sponsorships for the benefit of communities and tribes in need, locally and throughout the U.S.
BRIEF-DraftKings Says Expects Acquisition Of Golden Nugget Online Gaming To Be Consummated By May 31
2022-04-01 04:34:38 PM ET (Reuters)
April 1 (Reuters) - DraftKings Inc:
* DRAFTKINGS INC - NOW EXPECTS ACQUISITION OF GOLDEN NUGGET ONLINE GAMING TO BE CONSUMMATED ON OR PRIOR TO MAY 31, 2022 Further company coverage:
Damen Shipyards Uses Matterport Digital Twins to Accelerate Workflow and Enhance the Customer Experience
2022-03-22 09:21:39 AM ET (GlobeNewswire)
Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that Damen Shipyards Group ("Damen"), a Dutch-owned shipbuilding company with operations in 120 countries and delivering 175 vessels annually, has adopted Matterport digital twins to facilitate remote collaboration for internal and external stakeholders. With access to Matterport's rich, dimensionally accurate data, Damen has applied an innovative approach to drive customer satisfaction.
<img alt="Damen Shipyards" data-mce-src="/api/ImageRender/DownloadFile?resourceId=eb84fc46-e871-4488-9539-8fa4a847d29b&size=3" height="337" name="GNW_RichHtml_External_IMG" src="https://ml.globenewswire.com/Resource/Download/eb84fc46-e871-4488-9539-8fa4a847d29b" width="600" />
"When we discovered Matterport, we quickly realized the power of the digital twin to unlock collaboration and engagement with our designers and our customers," said Jan-Jaap Eits, Assistant Project Manager at Damen Shipyards. "Today, we use Matterport to allow our customers to remotely review and inspect every compartment and detail of a vessel within a 3D space. Internally, our design and engineering teams have access to detailed measurements and layouts to further enable them to work more efficiently and avoid costly and time-consuming site visits."
Across its Workboat Division, including its major shipyards in China, Turkey and Vietnam, Damen uses Matterport Pro2 3D cameras to capture digital twins of its vessels. With access to a 3D space in the planning stage, customers can examine the layout and placement of equipment and request modifications if desired. Once a design is finalized, Damen shares its digital twin internally with their service department, enabling them to gain a better understanding of the vessel when it is completed and delivered. In addition, the Measurement Mode capability within a Matterport digital twin allows Damen's design and engineering personnel to verify measurements down to the centimeter, including room layouts and the placement of everything from windows and doors to hardware and equipment, all without conducting a site visit.
With its growing library of digital twins, Damen developed a 3D archive of its vessels to support bookkeeping efforts and to prevent operational difficulties in the future. In addition, the company's digital record of its builds will facilitate knowledge transfer and training when longtime Damen employees retire or leave the company in the future.
"The growing adoption of Matterport across several industries, from store management to commercial boats, demonstrates that digital twins add operational efficiency and engage customers throughout their journeys," said Conway Chen, VP of Business Development and Strategy at Matterport. "With Matterport digital twins at their fingertips, Damen is able to further advance its reputation as a technology-driven organization focused on providing the best experience for its customers."
Read the case study to learn more about how Damen Shipyards used Matterport here, or learn more about Damen Shipyards at www.damen.com.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
Insider Buy: Draftkings
2022-03-16 01:33:03 PM ET (MT Newswires)
01:33 PM EDT, 03/16/2022 (MT Newswires) -- Hany M Nada, Director, on March 14, 2022, executed a purchase for 65,000 shares in Draftkings (DKNG) for $997,100. Following the Form 4 filing with the SEC, Nada has control over a total of 1,256,645 shares of the company, with 177,372 shares held directly and 1,079,273 controlled indirectly. The market value of the direct and indirect holding, based on the transaction price, is approximately $19,276,934.
SEC Filing:
https://www.sec.gov/Archives/edgar/data/1772757/000110465922034252/xslF345X03/tm229420-2_4seq1.xml
Price: 18.19, Change: +2.06, Percent Change: +12.74
Betting big on March Madness
Roughly 45 million Americans say they will be placing bets on this year's March Madness college basketball tournament, according to the gambling industry's national trade group, the American Gaming Association. Note: The association predicts that $3.1 billion will be wagered on this year's tournament.
DraftKings Marketplace Announces "Primetime NFT Series" Celebrating Sports' Biggest Moments
2022-03-15 09:00:18 AM ET (GlobeNewswire)
In recognition of the biggest sports events that captivate fans during the year, DraftKings Marketplace (Nasdaq: DKNG) has introduced the Primetime NFT Series, designed to deepen engagement and reward collectors on DraftKings during these defining moments. The first Primetime NFT Series drop will be the 2022 College Hoops Collection that launches just in time for March's college basketball national tournament. This marks the first fully in-house NFTs launched by DraftKings Marketplace with drops set for key moments throughout the event.
"DraftKings is already deeply embedded within the biggest moments in sports, and the new Primetime NFT Series will further drive engagement while also providing rewards that bridge to our gaming offerings for the first time," said Matt Kalish, Co-Founder and President of DraftKings North America. "Few times on the sports calendar can match the drama and spectacle of March's college basketball tournament, which is why we chose this monthlong event to initiate this new digital collectibles program."
Collectors holding all eight editions of the 2022 College Hoops Collection following the championship game will be airdropped a ninth commemorative NFT as a reward for collecting the full set, and this airdrop will grant collectors priority access to the next Primetime NFT Series drop. With each drop, collectors will be eligible to receive DK Dollars, which are site credits that can be used for gameplay across all parts of DraftKings' digital sports entertainment and gaming ecosystem, like sportsbook and daily fantasy. Eligible holders can use their 2022 College Hoops Collection NFT rewards to place bets and enter pools, brackets or fantasy contests as all the buzzer beaters and cinderella stories unfold this season.
There will also be exclusive one-of-one (1/1) editions of all eight collectibles, which will be auctioned off concurrently using DraftKings Marketplace's recently launched auction platform.
The 2022 College Hoops Collection sets the broader Primetime NFT Series into motion as fans can anticipate future drops centered around major sports events globally. This launch also follows several Web3 initiatives from DraftKings over the past year including an upcoming NFT-based game alongside the NFL Players Association as well as becoming one of the first corporate validators on the Polygon blockchain. More information about the Primetime NFT Series and its debut collection are available HERE and the DraftKings Marketplace Discord.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
Insider Buy: Draftkings
2022-03-10 10:50:06 AM ET (MT Newswires)
10:50 AM EST, 03/10/2022 (MT Newswires) -- Hany M Nada, Director, on March 08, 2022, executed a purchase for 50,000 shares in Draftkings (DKNG) for $872,500. Following the Form 4 filing with the SEC, Nada has control over a total of 1,191,645 shares of the company, with 112,372 shares held directly and 1,079,273 controlled indirectly. The market value of the direct and indirect holding, based on the transaction price, is approximately $20,794,205.
SEC Filing:
https://www.sec.gov/Archives/edgar/data/1772757/000110465922032256/xslF345X03/tm228852-2_4seq1.xml
DraftKings to Deliver Sports Betting Programming during Sunday's Bracket Reveal Through DraftKings' YouTube Channel and VSiN
2022-03-10 09:00:25 AM ET (GlobeNewswire)
Debuting this Sunday, DraftKings Inc. (Nasdaq: DKNG) will leverage the power of its growing media portfolio to deliver extensive sports betting coverage of the tournament brackets. Accessible via DraftKings' YouTube Channel and Vegas Sports Information Network (VSiN), sports fans will receive comprehensive analysis of the opening betting lines for this year's Men's College Basketball Tournament, real-time analysis, breaking news and wall-to-wall coverage from the industry's most knowledgeable sports betting experts and sports personalities.
"As viewers turn their eyes to the college hoops postseason, DraftKings will deliver new content catering to the skin-in-the-game fan," said Brian Angiolet, DraftKings Chief Media Officer. "We've assembled a diverse lineup of sports personalities and voices to engage customers and provide a unique perspective on the bracket."
Specialty Tournament Programming available on DraftKings' YouTube Channel and VSiN:
Line Drop: The Bracket presented by KFC - 6 p.m. - 7 p.m. ET/3 p.m. - 4 p.m. PT
As bracket pairings for the Men's College Basketball Tournament are announced, Line Drop: The Bracket presented by KFC will provide fans with a first look at the opening lines set by the DraftKings trading team. Hosted by DraftKings' Jessie Coffield and Julian Edlow, as well as VSiN's Stormy Buonantony and Tim Murray, viewers will get immediate reaction and expert analysis to betting lines as the matchups are revealed. In the first hour, VSiN's Josh Appelbaum, DraftKings' Johnny Avello and StuGotz from the Dan Le Batard Show with StuGotz, will breakdown the brackets and reveal best practices for betting on the tourney. Mike Golic Sr. and Jessica Smetana will give their tournament predictions and preview their new show, Golic and Smetty, launching on St. Patrick's Day, March 17, 2022.
Line Drop: The Bracket presented by KFC - 7 p.m. - 8 p.m. ET/4 p.m. - 5 p.m. PT
The Line Drop: The Bracket presented by KFC will continue exclusively on DraftKings' YouTube channel with more in-depth analysis of the Men's College Basketball bracket. The second hour will feature more expert analysis from DraftKings personalities and voices from Meadowlark Media including upset and giant killer experts Tom Haberstroh, Peter Keating and Jordan Brenner, as well as Dan Le Batard and StuGotz talking "best beats" and "March sadness." Kate Fagan and Jessica Smetana will also preview the Women's College Basketball Tournament, including players to watch and key storylines.
VSiN's Tournament Betting Breakdown -7 p.m. ET/4 p.m. PT - 1 a.m. ET/10 p.m. PT
At 7 p.m. ET/4 p.m. PT, VSiN will transition to Tournament Betting Breakdown, exclusive programming available on VSIN.com. Tournament Betting Breakdown will showcase the network's proprietary database of tournament trends to help fans fill out their 2022 brackets. Stormy Buonantony and Tim Murray will leverage exclusive betting data to uncover tournament favorites, identify early upset victims and predict potential "cinderella stories." Later in the evening, Jonathan Von Tobel and Amal Shah will take the helm as hosts, joined by Shaun King and Matt Youmans for an early look at line movement and betting splits. VSiN's own college basketball savant Greg "Hoops" Peterson will contribute throughout the day breaking down all 68 teams, highlighting his favorite bets, and offering insider analysis on smaller conference teams.
Schedule Information:
Line Drop: The Bracket presented by KFC 6 p.m. - 8 p.m. ET DraftKings YouTube and Twitter, local VSiN channel, and VSiN.com
3 p.m. - 5 p.m. PT
Tournament Betting Breakdown 7 p.m. - 1 a.m. ET Local VsiN channel and VSiN.com
4 p.m. - 10 p.m. PT
A full list of VSiN special programming and products related to the Men's College Basketball Tournament can be found at VSiN.com/Madness, but highlights include:
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories.
DraftKings is both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
About VSiN
VSiN, The Sports Betting Network, is the first sports media company dedicated to providing news, analysis and proprietary data to the millions of Americans who wager on sports and make sports betting a multibillion-dollar industry. Fueled by award-winning broadcasters and legendary oddsmakers, the network informs and entertains consumers with the latest sports betting news and industry trends on multiple platforms. Fans can access VSiN content on YouTube TV, Comcast Xfinity, fuboTV, Sling TV, Rogers' Sportsnet, NESN, MASN, Marquee Sports Network, Spectrum Sportsnet LA, AT&T Pittsburgh, beIN SPORTS, iHeartRadio, TuneIn, terrestrial radio stations throughout the U.S., VSiN.com,VSiN.com/Podcasts and the VSiN app.
VSiN has newsroom studios in the sportsbooks at the South Point Hotel, Casino and Spa and Circa Resort and Casino in Las Vegas, as well as satellite studios in leading gaming properties across the country. VSiN is a subsidiary of DraftKings Inc. (DKNG).
About Meadowlark Media
Meadowlark Media is a content company co-founded by John Skipper and Dan Le Batard in January 2021. With a creator-centric point of view, Meadowlark will partner with industry-leading storytellers on a variety of content projects with an initial focus on sports. Meadowlark Media and DraftKings formed a first-of-its-kind content, distribution and monetization partnership in April 2021.
DraftKings Joins Forces With Zero Hash to Earn Staking Rewards on Polygon
2022-03-07 09:00:06 AM ET (GlobeNewswire)
In its latest Web3 initiative, DraftKings (Nasdaq: DKNG) announced today a collaboration with Zero Hash that allows the sports technology and entertainment company to stake digital assets it holds in its treasury to support the Polygon (MATIC) blockchain network. With this collaboration, DraftKings is optimizing its working capital and liquidity as it operates a validator node that contributes to Polygon's governance and network security.
"Participating in validation supports DraftKings' broader strategy of building out a robust, sustainable, trustworthy and decentralized infrastructure to help futureproof aspects of our business in the Web3 era," said Paul Liberman, Co-Founder and President of Global Product and Technology at DraftKings. "We cannot accomplish this vision alone, so teaming up with industry luminaries like the team at Zero Hash in addition to Polygon is essential to our blockchain and related efforts moving forward."
The leading B2B digital assets infrastructure provider, Zero Hash recently developed a suite of staking-as-a-service products that provide complete back-end API infrastructure and regulatory framework for companies to earn rewards on crypto and fiat holdings in North America. Platforms can earn rewards on owned crypto and offer this service to their clients. Zero Hash abstracts away the complexity of interacting with proof-of-stake (PoS) networks, and its staking services are offered across several blockchain networks and support both B2B2C and B2B use cases. This solution is implemented via Rest API, which allows for seamless staking rewards opportunities to their customers whilst owning the entire client experience.
"Zero Hash's mission is to empower every fintech and consumer business through access to digital assets," said Edward Woodford, CEO at Zero Hash. "We are excited to support innovative companies like DraftKings as they look to stake digital assets as part of their portfolio-management strategy. Zero Hash is proud to be the turnkey technology provider for those looking to enter the PoS space."
PoS refers to proof of stake, a blockchain consensus mechanism for verifying and adding transactions on a blockchain. "Staking" allows native token holders (for example, MATIC holders) to participate in such transaction efforts by locking up or contributing their tokens for a certain amount of time to a validator to potentially receive a portion of staking rewards generated upon the verification of a new block of transactions. PoS protocols have seen enormous growth, with the market capitalization of the top 10 PoS protocols totalling $200 billion at the start of 2022, reflecting growing relevance with institutions and consumers alike.
"We're delighted to welcome DraftKings as one of the first corporate validators in our network," said Sandeep Nailwal, co-founder of Polygon. "As a validator, DraftKings will become an even more active participant in the Polygon ecosystem, playing a critical role in guaranteeing the integrity of the blockchain and securing the network. We are thrilled to have DraftKings as a validator on Polygon."
Polygon is the fastest growing blockchain with high speed and low gas infrastructure. DeFi bluechip dApps including Sushiswap, Curve, Aave, Balancer, Kyber have all integrated Polygon. This leading Ethereum scaling platform works in parallel with the Ethereum network to improve functionality and promote infrastructure development. Polygon achieves this via its array of scaling solutions, including Polygon PoS, Polygon SDK, Polygon Avail, Polygon Nightfall, and Polygon Hermez.
DraftKings has announced several Web3 initiatives in the past year, including launching its mainstream accessible NFT Marketplace featuring collections from Autograph, a strategic relationship with the Polygon blockchain and an upcoming NFT-based game alongside the NFL Players Association. For the latest on DraftKings Marketplace, customers can visit marketplace.draftkings.com.
About Zero Hash
Zero Hash is a B2B embedded infrastructure platform that allows any platform to integrate digital assets natively into their own customer experience quickly and easily (a matter of API endpoints). Zero Hash's turnkey solution handles the entire backend complexity and regulatory licensing required to offer digital asset products.
Zero Hash powers neo-banks, broker-dealers, and payment groups to offer digital asset trading and custody, crypto-backed rewards, and round-ups programs, and the ability to earn crypto through staking and DeFi. Clients include MoneyLion, Transak, Deserve, Wirex, MoonPay, tastyworks. Zero Hash is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.
Zero Hash Holdings Ltd. is a Delaware C-Corp that wholly owns Zero Hash LLC and Zero Hash Liquidity Services LLC. Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash also holds a virtual currency license from NYDFS. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.
Connect with Zero Hash on LinkedIn, or visit www.zerohash.com for more information.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon's scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
Inspired Entertainment Launches Online Gaming Content in Connecticut With DraftKings
2022-03-04 08:38:47 AM ET (MT Newswires)
08:38 AM EST, 03/04/2022 (MT Newswires) -- Inspired Entertainment (INSE) said Friday it has launched its online gaming content in Connecticut with DraftKings (DKNG).
The company's gaming portfolio is now available in three US states, including New Jersey and Michigan, according to the statement.
BRIEF-Draftkings - Increasing Long-Term Adjusted EBITDA Outlook To $2.1 Billion
2022-03-03 08:46:54 AM ET (Reuters)
March 3 (Reuters) - DraftKings Inc:
* DRAFTKINGS INC- INCREASING LONG-TERM ADJUSTED EBITDA OUTLOOK TO $2.1 BILLION Further company coverage:
Marvell Introduces Industry's First 800G Multimode Electro-Optics Platform for Cloud Data Centers
2022-03-02 08:55:11 AM ET (PR Newswire)
Marvell (NASDAQ: MRVL) today announced the industry's first 800Gbps or 8 x 100Gbps multimode platform solution, that enables data center infrastructure to achieve dramatically higher speeds for short-reach optical modules and Active Optical Cable (AOC) applications. As artificial intelligence (AI), machine learning (ML) and high-performance computing (HPC) applications continue to drive greater bandwidth requirements, cloud-optimized solutions are needed that can bring lower power, latency and cost to short-range data center interconnections. The new 800G platform, which includes Marvell's PAM4 DSP with a multimode transimpedance amplifier (TIA) and Driver, enables faster data center speeds scaling to 800Gbps, using conventional cost-effective vertical-cavity surface-emitting laser (VCSEL) technology while accelerating time-to-market with plug-and-play deployment.
Today's data centers are packed with equipment utilizing optical modules or AOCs connected by multimode optical fiber optimized for communication over short distances within data centers. This 100G per lane multimode fiber provides cost-effective, low-power, short-reach connectivity. To support multi-gigabit transmissions, multimode architectures often use VCSEL transmitters, which offer the cost benefits of reliability, power efficiency and easy deployment.
To increase interconnect speeds required by today's data center operators, they must upgrade their equipment while minimizing the cost and complexity of multimode fiber replacement. With the introduction of the industry's first 800G multimode platform solution data centers can double the data rate to achieve 800G speeds using the same multimode fiber. The new Marvell platform is an easy plug-and-play option for optical modules and AOC used in routers and switches, enabling faster, more cost-effective upgrades without overhauling fiber networks.
"As a pioneer in PAM4 DSP technology for data centers, Marvell is the first in the industry to offer a cost-effective, plug-and-play platform solution that supports 800G speeds using VCSEL technology and multimode fiber," said Lian Qin, associate vice president, Optical and Copper Connectivity Group, Marvell. "With this industry-first 800G multimode platform solution, we are transforming today's data centers to deliver the required bandwidth to support the data centers of tomorrow."
"The demand for high-speed optical interconnects in data centers continues to exceed expectations, increasing 80x over the past decade to reach 800G," said Vlad Kozlov, founder and CEO, LightCounting Market Research. "We predict continued strong demand for short-reach, low-cost multimode technology, and Marvell's 800G multimode platform is the first solution to address this market need. The platform delivers a highly integrated, cost-effective and easy-to-deploy approach that's optimized to drive massive data center growth in the coming years."
Marvell is addressing a variety of options in the data center as each cloud is unique, requiring varying distances for its interconnects and optimal technologies to support its infrastructure -- often a mix of different interconnect types. By fostering an open ecosystem of interoperable solutions, Marvell is enabling the delivery of cloud-optimized solutions to the world's largest carrier and data center networks.
PAM4 DSPsThe Marvell(R) Spica(TM) PAM4 DSP is the industry's first 800Gbps or 8x100Gbps PAM4 DSP to support 800G optical modules in QSFP-DD800 and OSFP form factors. Spica is a field-proven, low-power, high-performance PAM4 DSP, optimized for optical transceiver modules applications, with various package options for all major module form factors. Spica DSPs are optimized for both multimode and single-mode applications.
Multimode DriverThe Marvell IN5614DV is a 56GBaud low power VCSEL linear driver for PAM4 optical modules or Active Optical Cables. The TIA is optimized for routing with a channel pitch aligned to the VCSEL optics driving over multimode fiber.
Multimode TIAThe Marvell IN5669TA is a 56GBaud low power VCSEL TIA for PAM4 optical modules. It features a wide dynamic range to meet the different performance and link requirements for optical applications and excellent signal integrity necessary for PAM4 modulation schemes.
Marvell is showcasing its new 800G multimode platform solution alongside its comprehensive portfolio of cloud-optimized electro-optics PAM DSP, Coherent DSP, DCI modules, switch and PHY solutions at OFC in San Diego, Calif. (booth #2301) March 8-10, 2022.
AvailabilityThe Marvell chipset is available now and sampling to leading customers. Additional resources can be found on the media kit page.
About MarvellTo deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform--for the better.
Morgan Stanley Names DraftKings Its Top Pick, Sees Long-Term Profitability 'Much Larger Than Forecasted'; Overweight Rating, $31 Price Target Kept
2022-03-02 08:42:30 AM ET (MT Newswires)
08:42 AM EST, 03/02/2022 (MT Newswires) -- DraftKings (DKNG) has an average investment rating of outperform among analysts polled by Capital IQ, with price targets ranging from $19 to $79.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe.
Ford has no plans to spin off its EV or gasoline-powered vehicle businesses -CEO
2022-02-23 02:23:37 PM ET (Reuters)
DETROIT, Feb 23 (Reuters) - Ford Motor Co has no plans to spin off its electric vehicle or gasoline-powered vehicle businesses, Chief Executive Jim Farley said at a Wolfe Research conference on Wednesday.
Ford previously denied reports it was considering spinning off its EV or internal-combustion engine (ICE) operations. (Reporting by Ben Klayman in Detroit Editing by Chris Reese)
A good plan! I have done the same, except for DKNG. I am just keeping my free shares for investment. Always keep some dry powder for what is to come in the macro scale.
Thank you for your chart. RSI is a lagging indicator. Price action and volume are leading indicators. For me, I see lower highs and lower lows for the past 2 trading days after a gap down with very high volume. This is a bearish movement after earnings (see your chart). Both MACD and Slow Stochastic 'confirm' this bearish movement, despite both being lagging indicators.
On the macro scale, the NASDAQ Futures (daily) is going to have a death cross soon, I say in a few trading days. I am seeing more downside to the overall markets with further downward spiral of the conflict with Russia/Ukraine. Be careful.... raise cash by trimming profits off the table (if you can) to be better prepared.
Have a look-see at the MFI on the daily. It shows money has been leaving the stock since the 11th, same day a second bearish candle for the day that lead to the decline before earnings. Someone knew in advance and broke the price trend. The gap down today, a very bearish candle and with high volume.... be careful.
Will their EV spin-off be a public traded company or privately held?
Despite their increase 2022 revenue outlook, their adjusted Q4 loss widens. The market has changed with rising rates coming in March. Growth companies are not in focus anymore, its value stocks with good dividends and secular growth with stellar earnings.
Yup. But will this retest hold? The current candlestick is very bearish this morning, lots of selling pressure. Lets see where the price close at 4pm, then re-look at the techncials.
The price will retest to that area and if the support doesn't hold, expect price to head down ~15.75.
The higher highs and higher lows has failed, as there is no follow through. Thus, previous uptrend is not valid anymore on both the daily and weekly charts. Charting is fluid and based on the time frame. I hope you got out (or at least sold some of your shares) at the 24 dollar range for a good size gain.
The light has been burnt since the announcement of Entain. Management needs to look at their numbers in detail, as they are spending way too much. I learned a rule in the music industry several years back, if you are going to spend X amount of money on advertising (TV commercial, billboard ads, websites promotions), expect X multiple in music sales, revenues, and profits..... unless the singers are Elton, U2, Madonna, Justin, BTS.
Keep an eye on ~17.82. Be careful.
DraftKings Reports Fourth Quarter Revenue of $473 Million; Increases 2022 Revenue Guidance to $1.85 Billion to $2.0 Billion; Introduces 2022 Adjusted EBITDA Guidance
2022-02-18 07:00:02 AM ET (GlobeNewswire)
DraftKings Inc. (Nasdaq: DKNG) ("DraftKings" or the "Company") today reported fourth quarter and full-year 2021 financial results.
Fourth Quarter and Full-Year 2021 Highlights
For the three months ended December 31, 2021, DraftKings reported revenue of $473 million, an increase of 47% compared to $322 million during the same period in 2020. Fourth quarter 2021 revenue exceeded the guidance previously provided by the Company during its third quarter earnings conference call on November 5, 2021 by 8%. After giving pro forma effect to the business combination with SBTech (Global) Limited ("SBTech") and Diamond Eagle Acquisition Corp. which was completed on April 23, 2020, as if it had occurred on January 1, 2019, revenue for the year ended December 31, 2021 grew 101% compared to the year ended December 31, 2020.
"DraftKings' strong fourth quarter performance exceeded our expectations on the top and bottom line," said Jason Robins, DraftKings' co-founder, Chief Executive Officer and Chairman of the Board. "Our excellent quarter capped off a year in which five of our states were Contribution Profit positive, further demonstrating the effectiveness of our state playbook and supporting our positive view of the industry's TAM. We enter 2022 positioned to grow our market share, further optimize our user experience and continue to strengthen our multi-product suite of offerings."
Jason Park, DraftKings' Chief Financial Officer, added, "We grew revenue 47% year-over-year to $473 million in the fourth quarter despite lower-than-expected hold in October primarily due to NFL game outcomes. Our key performance indicators reflected excellent player retention, acquisition and cross-selling in the quarter, as Monthly Unique Payers increased by 32% and Average Revenue Per Monthly Unique Payer grew by 19%. We are increasing the midpoint of our 2022 revenue guidance to $1.93 billion given new state launches and strong underlying performance trends and introducing guidance for Adjusted EBITDA of negative $825 million to $925 million."
Continued Healthy Growth in Player Retention, Acquisition and Engagement
Increasing Midpoint of 2022 Revenue Guidance and Introducing 2022 Adjusted EBITDA Guidance
Expanded Mobile Sports Betting and iGaming Footprint
Product Expansion and Innovation and Rewards Program
Commitment to Responsible Gaming
Webcast and Conference Call Details
DraftKings will host a conference call and audio webcast today at 8:30 a.m. EST, during which management will discuss the Company's results for the quarter and provide commentary on business performance. A question and answer session will follow the prepared remarks.
The conference call may be accessed by dialing (833) 644-0686 for domestic callers or (918) 922-6762 for international callers. Once connected with the operator, please provide the conference ID of 4084568.
A live audio webcast of the earnings conference call will be available on the Company's website at investors.draftkings.com, along with a copy of this press release, the Company's Form 10-K filing, and a slide presentation. The audio webcast and accompanying presentation will be available on the Company's investor relations website until 11:59 p.m. EST on March 14, 2022.
Non-GAAP Financial Measures
This press release includes Contribution Profit and Adjusted EBITDA, which are non-GAAP performance measures that we use to supplement our results presented in accordance with U.S. GAAP. We believe Contribution Profit and Adjusted EBITDA are useful in evaluating our operating performance, similar to measures reported by our publicly-listed U.S. competitors, and regularly used by security analysts, institutional investors and other interested parties in analyzing operating performance and prospects. Contribution Profit and Adjusted EBITDA are not intended to be substitutes for any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.
We define and calculate Contribution Profit as gross profit less external marketing expenses. We define and calculate Adjusted EBITDA as net loss before the impact of interest income or expense, income tax expense or benefit, depreciation and amortization, and further adjusted for the following items: stock-based compensation, transaction-related costs, non-core litigation, settlement and related costs, non-recurring advocacy and other related legal expenses, remeasurement of warrant liabilities, and certain other non-recurring, non-cash or non-core items.
We include these non-GAAP financial measures because they are used by management to evaluate our core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Adjusted EBITDA excludes certain expenses that are required in accordance with U.S. GAAP because they are non-recurring items (for example, in the case of transaction-related costs and advocacy and other related legal expenses), non-cash expenditures (for example, in the case of depreciation, amortization, remeasurement of warrant liabilities and stock-based compensation), or are not related to our underlying business performance (for example, in the case of interest income and expense and litigation settlement and related costs).
Information reconciling forward-looking Contribution Profit and Adjusted EBITDA to U.S. GAAP financial measures is unavailable to DraftKings without unreasonable effort. DraftKings is not able to provide reconciliations of Contribution Profit and Adjusted EBITDA to U.S. GAAP financial measures because certain items required for such reconciliations are outside of DraftKings' control and/or cannot be reasonably predicted. Preparation of such reconciliations would require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with U.S. GAAP, and such forward-looking financial statements are unavailable to the company without unreasonable effort. DraftKings provides a range for its Adjusted EBITDA forecast that it believes will be achieved, however it cannot accurately predict all the components of the Adjusted EBITDA calculation. DraftKings provides a Contribution Profit and an Adjusted EBITDA forecast because it believes that Con tribution Profit and Adjusted EBITDA, when viewed with DraftKings' results under U.S. GAAP, provides useful information for the reasons noted above. However, Contribution Profit and Adjusted EBITDA is not a measure of financial performance or liquidity under U.S. GAAP and, accordingly, should not be considered as an alternative to net income or cash flow from operating activities as an indicator of operating performance or liquidity.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
BRIEF-Third Point Dissolves In Activision Blizzard; Takes Rivian
2022-02-14 05:34:43 PM ET (Reuters)
Feb 14 (Reuters) - Third Point LLC:
* THIRD POINT LLC DISSOLVES SHARE STAKE IN ACTIVISION BLIZZARD INC - SEC FILING
* THIRD POINT LLC TAKES SHARE STAKE OF 4.05 MILLION CLASS A COMMON SHARES OF RIVIAN AUTOMOTIVE
* THIRD POINT LLC - CHANGE IN HOLDINGS ARE AS OF DECEMBER 31, 2021 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF SEPTEMBER 30, 2021 Source for the quarter ended December 31, 2021: https://bit.ly/34W2DxY Sources for the quarter ended September 30, 2021: https://bit.ly/3HssnRi
BRIEF-Tiger Global Management Takes Share Stake In Rivian Automotive
2022-02-14 12:38:10 PM ET (Reuters)
Feb 14 (Reuters) - TIGER GLOBAL MANAGEMENT:
* TIGER GLOBAL MANAGEMENT TAKES SHARE STAKE OF 751,000 CLASS A SHARES IN RIVIAN AUTOMOTIVE
* TIGER GLOBAL MANAGEMENT LLC - CHANGE IN HOLDINGS ARE AS OF DECEMBER 31, 2021 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF SEPTEMBER 30, 2021 Source for the quarter ended December 31, 2021: https://bit.ly/3gMsJGh
California, Texas pension funds among new investors in EV startup Rivian
2022-02-14 02:06:31 PM ET (Reuters)
By David Randall
NEW YORK, Feb 14 (Reuters) - Seven state government employee pension funds including CalPERS, the largest U.S. pension plan, took stakes in electric vehicle startup Rivian Automotive Inc in the quarter that ended Dec. 31, according to securities filings released Monday.
The Teacher Retirement System of Texas, the California Public Employees Retirement System (CalPERS) and the Maryland State Retirement and Pension System were among the seven as well as pension funds for Utah, Colorado, North Carolina and Wisconsin, according to data from fund tracker WhaleWisdom.
CalPERS, which has approximately $492 billion under management, bought slightly more than 305,000 shares in the company, while the $191 billion Teacher Retirement System of Texas fund took a position of about 33,000 shares in the company.
The moves illustrate a greater appetite for risk among U.S. pension funds as they continue to face funding gaps despite U.S. equit y market gains since the start of the coronavirus pandemic in 2020. Overall, the average pension plan's funded ratio - a measure of assets compared with liabilities - remains below 75%, according to sovereign investor specialist Global SWF.
Shares of Rivian popped nearly 10% on Monday after the disclosure last week that several prominent investors including billionaire George Soros and hedge fund Tiger Global added shares in the company last quarter.
As of Friday's close, shares of Rivian were down 43% for the year to date. At their Monday afternoon trading price near $64.75, shares of the company remain 64% below the high of $179.46 on Nov. 16, less than a week after the company raised $12 billion in the largest stock debut of 2021.
The filings, known as 13-fs, are backward looking and do not disclose whether a firm has sold or added to its position since the end of December. (Reporting by David Randall; Editing by Cynthia Osterman)
China and Hong Kong-based Residential Real Estate Company Midland Holdings to Digitize its Property Portfolio with Matterport
2022-02-14 09:15:00 AM ET (GlobeNewswire)
Matterport, Inc. ("Matterport") (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced that Midland Holdings, one of the largest residential real estate (RRE) brokerages in the Greater China region, will become the first brokerage in the region to use Matterport digital twins to create virtual 3D experiences for its entire portfolio of properties. Using Matterport, the company will provide its customers with easy-to-use, 3D versions of its network of properties through China, Hong Kong, and Macau while also realizing significant operational improvements and cost savings.
"As an industry leader, continuing to invest in the right technology to support our business is crucial to our success," said Angela Wong, Vice Chairman of Midland Holdings. "Using Matterport digital twins will provide a better experience for our customers while also allowing us to act as a pioneer in transforming the home shopping experience in China and Hong Kong."
Midland Holdings' use of Matterport digital twins represents a significant milestone for the RRE industry in China, changing the way that customers have been able to traditionally view, buy, or rent homes. By using Matterport's digital twin capture technology, Midland Holdings will be able to provide customers with on-demand, virtual access to its expansive list of for sale and rent properties in the Greater China region. Customers can now virtually tour the bedrooms, kitchen, and living spaces of any number of properties, making purchase and rental decisions from the comfort of their own home.
In 2016, Midland Holdings became the first Hong Kong-based real estate brokerage to launch a Virtual Reality (VR) panoramic property viewing service. With digital twins, Midland Holdings can also virtually furnish or stage its properties, allowing customers to more easily visualize how an empty space can be used, and, if interested, customers can also purchase the furniture they see on a property through a virtual marketplace with just a single click. The added e-commerce offering will provide customers a way to furnish their home with what they see in the virtual experience, reducing the stress that is often associated with moving into an unfurnished home.
"Matterport is pleased to partner with Midland Holdings as they adopt our digital twin technology across their portfolio," said Ben Corser, APAC Managing Director of Matterport. "As renters, buyers and sellers come to understand the impact and value of our technology, the residential real estate industry has continued to increase their adoption of digital twins to meet customers' needs. We look forward to collaborating with Midland Holdings to deliver digital twins for their properties and provide a more efficient, immersive experience for their customers."
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our ground-breaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 194 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. For the company logo and more images, see our media kit.
About Midland Holdings
Deeply rooted in Hong Kong for almost half a century, Midland Realty was established in 1973 as a small shop which has grown in tandem with Hong Kong's economy. In 1995, Midland Holdings Limited (Stock Code: 1200) became the first listed real estate agency group in Hong Kong. The Group now possesses over 600 branches and nearly 8,000 employees, providing not only real estate agency services, but also financial services, property surveying and immigration consultancy. Having a strong foothold in Hong Kong, the Group is connecting with the whole world. Our footprints extend from Hong Kong, Macau and Mainland China, to cities in Australia, Canada, the United States and Europe.
Market Chatter: Tesla Reportedly Sells 59,845 China-Made Vehicles in January
2022-02-14 07:26:21 AM ET (MT Newswires)
07:26 AM EST, 02/14/2022 (MT Newswires) -- Tesla (TSLA) recorded sales of 59,845 China-made vehicles in January, Reuters reported Monday, citing the China Passenger Car Association.
This is down from the 70,847 China-made vehicles reportedly sold in December. The carmaker manufactures Model 3 sedans and Model Y sport-utility vehicles in Shanghai, according to the report.
Total passenger car sales in January in China were 2.11 million, down 4.5% from a year earlier, CPCA reportedly said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Billionaire Soros buys stake in EV startup Rivian
2022-02-11 06:36:00 PM ET (Reuters)
By David Randall
NEW YORK, Feb 11 (Reuters) - Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc in the quarter ended Dec. 31, securities filings showed Friday.
The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a consumer vehicle. Rivian, which is 20% owned by Amazon.com Inc, is expected to provide the e-commerce company with more than 100,000 electric trucks.
Irvine, California-based Rivian said https://www.reuters.com/business/autos-transportation/rivian-warns-supply-issues-hit-2021-production-shares-fall-10-2021-12-17 in December it expected production to fall "a few hundred vehicles short" of its 2021 target of 1,200 due to supply chain constraints, highlighting the likely challenges in ramping up production to take on EV leader Tesla Inc.
Shares of Rivian fell 9% Frid ay and are down 43% for the year to date. The stock price is down 67% from the high of $179.46 it touched on Nov. 16, less than a week after it raised $12 billion in the largest stock debut of 2021.
DraftKings to Host Virtual Investor Day
2022-02-10 04:30:01 PM ET (GlobeNewswire)
DraftKings Inc. (Nasdaq: DKNG) ("DraftKings" or the "Company") will host a virtual Investor Day on Thursday, March 3, 2022, beginning at 9:00 a.m. ET. The event is expected to last approximately two hours.
DraftKings' virtual Investor Day will include presentations from Jason Robins, co-founder, CEO and Chairman of the Board, and Jason Park, Chief Financial Officer. The presentations will include the Company's latest views on:
(i) Total addressable market based on the most recent data;
(ii) Insights into market share and product innovation that drives differentiation;
(iii) Customer cohort payback and state profitability results; and
(iv) An updated long-term Adjusted EBITDA outlook as well as an update on organic growth initiatives.
Following the presentations, there will be a live Q&A session.
Event registration is available on the DraftKings Investor Relations website and, following the event, an on-demand replay will be available. The accompanying Investor Day presentation will also be available on the DraftKings Investor Relations website prior to the event beginning on Thursday, March 3, 2022.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. DraftKings' Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Louisiana, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming. DraftKings' daily fantasy sports product is available in 6 countries internationally with 15 distinct sports categories. DraftKings i s both an official daily fantasy and sports betting partner of the NFL, NBA, MLB, NHL, PGA TOUR and UFC as well as an official daily fantasy partner of NASCAR. Launched in August 2021, DraftKings Marketplace is a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.
Matterport Introduces Axis, a New Hands-Free Motor Mount for Precision 3D Capture for Smartphones
2022-02-08 09:27:51 AM ET (Globe Newswire)
Matterport Axis is available with special pre-launch pricing starting today
SUNNYVALE, Calif., Feb. 08, 2022 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced Matterport Axis(TM), a revolutionary motorized mount that works with a smartphone to capture 3D digital twins of any physical space with increased speed, precision, and consistency. This convenient, hands-free solution produces reliable high-fidelity results with just a click of a button. From homes to offices, hotels, rentals, retail locations, even a factory floor, Matterport Axis is the most affordable way to supercharge 3D capture using just the phone in your pocket. With Axis, the company aims to accelerate the digital transformation of the built world by making it effortless for anyone with a smartphone to digitize any kind of space with a new level of precision and ease of use.
Starting today, Matterport Axis is available with special pre-launch pricing of just $59, by securing a place on the Axis waitlist at Matterport.com. The official launch date is April 1 when general availability pricing will start at $79. All waitlist sign-ups received by March 31 will qualify for pre-launch pricing, subject to terms and conditions. Matterport has also enlisted its premier e-commerce partners, Adorama and B&H, to bring Matterport Axis to market. The special pre-launch pricing will also be available at both of these websites starting today.
Customers across a variety of industries use Matterport to virtually measure, document, manage, and promote their properties online. Now, with Matterport Axis, organizations across the globe can scale up their efforts to affordably capture high-fidelity digital twins at multiple locations simultaneously. Distributed teams get reliable, consistent results from their smartphones, and Axis helps to ensure that every scan from every location achieves the same level of precision. Matterport Axis simplifies deployments across all industries including:
- Retail and Hospitality. On-site employees can use Matterport Axis and the smartphone in their pocket to reliably capture a digital twin from every location across a chain of properties. This enables merchandising teams and facility managers to virtually inspect, plan, and manage multiple locations online, eliminating routine travel and on-site visits while rapidly increasing productivity.
- Real Estate. Professionals, property managers, and vacation rental owners can now create digital twins with greater speed and ease with Axis' affordable, hands-free 3D capture - to publish stunning virtual tours online in less than an hour.
- Construction and Insurance. Builders and insurance adjusters can readily deploy multiple Axis units to the field to accurately scan and share detailed digital twins from any compatible smartphone, for every stage of the job. Enabling remote inspection, tracking, and management with contractors and building specialists anywhere in the world.
"At Matterport, our mission is to make every space more valuable and accessible, and with Matterport Axis, we're excited to help our customers bring their properties online so that they can manage them anytime, anywhere," said Japjit Tulsi, Chief Technology Officer of Matterport. "We have democratized 3D capture by making the Matterport Capture app available to billions of Android and iOS users. Combined with Matterport Axis, we've made it even simpler for individuals, small businesses, and large multi-property enterprises to quickly and reliably scale the digitization of their properties at an affordable price."
To learn more about Matterport Axis and sign up for the waitlist, visit: www.matterport.com/axis.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 194 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
Matterport To Showcase Impact of Digital Twins for Architecture, Engineering, and Construction Industry at its Popular Space Jam Competition
2022-02-07 09:15:01 AM ET (GlobeNewswire)
Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, today announced it will host the next installment of the Matterport Space Jam virtual event series, featuring four of its platform partners that are building software solutions on top of Matterport's digital twins for the Architecture, Engineering and Construction (AEC) industry. The virtual event will take place on February 24 at 8:30 am PT, offering attendees an opportunity to learn how four Matterport Platform Partners build solutions for the AEC industry on top of Matterport digital twins.
During the event, each platform partner will demonstrate its products in respective 5-minute sessions and field questions from attendees. Once demonstrations and questions have concluded, attendees can vote on their favorite presentation. The event will feature the following Matterport platform partners:
e-Building - a powerful document manager, e-Building allows users to manage all their building information modeling (BIM) files on a single platform and digitally link them directly to exact locations within a Matterport digital twin.
RemSense - an industrial software package that uses Matterport imagery with layers of information from client management systems (CMS) to help solve engineering challenges.
SIMLAB Stages - a tool used by the AEC industry to create a living timeline of site progress for any project at any stage, allowing users to view and collaborate on the project at different points in time.
Nspect - a solution that takes Matterport data and allows users the ability to create an inspection report, a quality control review, safety inspection, or a work plan for a site all overlaid onto a Matterport digital twin.
"With the addition of BIM file, Autodesk Revit Plugin, and Notes feature, Matterport continues to support the AEC industry with innovative solutions that increase project efficiency, boost productivity, and reduce costs," said Stephanie Lin, Sr. Director of Strategy for AEC at Matterport. "We are excited to showcase our innovative platform partners to the AEC industry and highlight how solutions built on top of Matterport digital twins can improve AEC workflows and stakeholder coordination while helping firms and owners alike save costs by reducing in-person site visits and streamlining the design and project management process."
Register to attend Matterport Space Jam for AEC here.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 194 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.