Technology

KITS Eyecare Reports Preliminary Second Quarter 2024 Results

Published

6 months ago

July 3, 2024

Q2 Revenue Grew 25% YOY to Approximately $37.5 million
Q2 Adjusted EBITDA Improved to over 3% of Revenue
Cash Position Remains Strong at over $19.0 Million

VANCOUVER, BC, July 3, 2024 /CNW/ – KITS Eyecare Ltd. (TSX: KITS) (“KITS” or the “Company”), the leading vertically integrated eyecare provider, is providing selected preliminary unaudited results for its second quarter ended June 30, 2024.

Select Preliminary Second Quarter 2024 Financial Highlights

Total revenue grew 25% year-over-year to approximately $37.5 millionAdjusted EBITDA increased year-over-year to over 3% of Revenue.Finished the quarter with a healthy cash balance over $19.0 million.

“We are delighted to share another record quarter for the KITS business, including our seventh consecutive quarter of positive adjusted EBITDA and revenue growth at over 5x the industry average,” said Roger Hardy, Co-Founder and CEO of KITS. “Leading the way was our glasses business. Growth continued to be fueled by customers sharing their experiences with friends and family about the truly better way to buy eyewear and see the world.”

The Company looks forward to reporting its full second quarter 2024 results in early August 2024. Details for the second quarter 2024 conference call will be disclosed in the coming weeks.

About KITS
KITS makes eyecare easy. KITS is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. We offer customers access to a vast selection of contact lenses and eyeglasses, including our own exclusive KITS designed products, as well as a robust suite of online vision tools. Our efficient digital platform, backed by our industry-leading manufacturing and designs, removes intermediaries, and enables us to offer great prices and deliver made to order personalized products with incredible care and accuracy. We are creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including online eyewear fitting tools, and virtual try-on for glasses. We strive to delight our customers with our competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning our customers’ lifelong trust. For more information on KITS, visit: www.kits.com.

Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the execution of our proposed strategy, our operating performance and prospects for the business. These forward-looking statements generally can be identified by the use of words such as “intend,” “believe,” “could,” “continue,” “expect,” “estimate,” “forecast,” “may,” “potential,” “project,” “plan,” “would,” “will,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such a statement. Our business is subject to substantial risks and uncertainties. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions in respect of the expansion and enhancement of our optical laboratory for glasses and warehouse facilities; the growth of our business and launch of new technologies; our ability to drive sales growth; our ability to maintain, enhance, and grow within our addressable market; our ability to drive ongoing development and innovation of our exclusive brands and product categories; our ability to continue directly sourcing from third party suppliers and manufacturers; our ability to retain key personnel; our ability to add, maintain and expand production, distribution and fulfillment capabilities; our ability to continue investing in infrastructure to support our growth; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards are material factors made in preparing forward-looking information and management’s expectations. KITS’ risks and uncertainties are discussed in detail in the company’s Annual Information Form, filed on SEDAR on March 6, 2024. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements, except as required under applicable securities laws. If we do update certain forward-looking information, no inference should be made that we will further update such or other forward-looking information.

SOURCE KITS

Technology

SP Manufacturing Expands with New Malaysia Plant, Acquires Ideal Jacobs

Published

43 minutes ago

December 26, 2024

SINGAPORE, Dec. 25, 2024 /PRNewswire/ — SP Manufacturing (SPM), a leader in Electronic Manufacturing Services (EMS), is strengthening its global presence with two major moves: opening a new manufacturing facility in Senai, Malaysia, and successfully acquiring Ideal Jacobs Corporation.

Malaysia Expansion: Enhancing Operations and Supporting Growth

The state-of-the-art Senai facility, which opened in October, will enhance the company’s operational resilience to meet growing customer demands in medical devices, industrial machinery, and automotive electronics.

Equipped with advanced automation and strict quality controls, the factory enables SPM to deliver mission-critical products with precision and reliability while supporting Malaysia’s vision of becoming a leader in high-value, high-tech industries.

“This facility reflects our commitment to serving our global customers while participating in a key location of the global supply chain network,” said Jackson Tan, Global Business Development Director of SP Manufacturing. The plant’s capabilities include cable harness assembly, PCB assembly, and box-build solutions.

The Senai facility is equipped with comprehensive manufacturing capabilities, including:

Functional testingIn-circuit testing and automated optical inspection (AOI)State-of-the-art cleaning processesRigorous inspection protocolsRapid prototyping and expert assembly processes

Ideal Jacobs Acquisition: Expanding Capabilities

In a parallel move, SPM also acquired Ideal Jacobs Corporation, which is known for its human-machine interface, printed electronics and die-cut solutions. The move will expand SPM’s engineering capabilities and provide access to a diversified client portfolio, including leading names in the medical, industrial, semiconductor, and telecommunications sectors.

Comprehensive Design Support in the U.S.

SPM continues to provide comprehensive engineering and design services for its U.S. customers using industry-standard software for PCB and electrical design. These services help clients with their new product introductions (NPI), early supplier involvement (ESI), and DFx processes, optimising costs and reducing time to market.

Founded in 2000 and headquartered in Singapore, SP Manufacturing has built its reputation serving mission-critical industries like medical, automotive, and aerospace. The company specialises in cable harnesses, PCB assemblies, and box-build products.

For more information about SP Manufacturing’s latest developments, visit www.sp-manufacturing.com or follow us on LinkedIn.

About SP Manufacturing

SP Manufacturing (SPM), founded in 2000 and headquartered in Singapore, has established itself as a leader in the EMS sector. Serving mission-critical industries such as industrial, medical, automotive, and aerospace, SPM excels in providing comprehensive manufacturing solutions from design to full production, specialising in high-quality cable harnesses, PCB assemblies, and box-build products.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sp-manufacturing-expands-with-new-malaysia-plant-acquires-ideal-jacobs-302338858.html

SOURCE SP Manufacturing

Technology

Casect Launches AI-Enhanced Case Log Platform for Surgeons

Published

4 hours ago

December 25, 2024

SHERIDAN, Wyo., Dec 25, 2024 /PRNewswire/ — Casect, LLC, a medical education technology company, announces the launch of an innovative platform to revolutionize how surgeons and medical professionals document cases. Casect empowers users to track surgical Cases, refine Techniques, organize References, and collaborate with Colleagues — all within a user-friendly, HIPAA-compliant system.

Say goodbye to inefficient notebooks, spreadsheets, and outdated case logs. Casect offers a modern, comprehensive solution tailored to the surgical community, enabling professionals to focus on growth, learning, and excellence in patient care.

A New Era of AI-Powered Case Tracking

Time is critical for surgeons, yet valuable insights are often lost due to outdated documentation methods like handwritten notes or spreadsheets. Casect’s HIPAA-compliant platform, with a no data retention policy for protected health information, uses optional AI to pre-fill case details, analyze uploads, and organize data seamlessly. This transforms hours of documentation into minutes, giving surgeons more time to refine skills and improve patient care.

Casect addresses an unmet need in medical education, residency, fellowship, credentialing, and research. It enables detailed documentation of Cases, Techniques, and References, accessible from any computer or mobile device with a subscription.

Key Features

AI-Assisted Case Entry (Optional): Streamline input with AI or manually add details; supports spreadsheet uploads.Customizable Fields: Track cases your way.Refine Techniques: Create, document, and improve surgical techniques.Multimedia Support: Upload, organize, and access photos, videos, and documents.Organize References: Annotate, markup, and securely store documents and literature.Collaborate Seamlessly: Share cases and techniques effortlessly with colleagues.Analyze and Export: Generate insights through charts or export data as CSV.HIPAA-Compliant: Designed to meet strict HIPAA standards, ensuring the security and confidentiality of protected health information.

Additional Resources

Stay Informed: Unlock a 30-day free trial by signing up for the latest updates on Casect’s launch.Learn More: Discover why Casect is the preferred choice for surgeons at Why Casect?Explore Features: View the Full Feature List.Stay Connected: Follow us on X, Facebook, Instagram, and LinkedIn for updates, tips, and stories. Join the conversation with #MedEd, #CaseLog, and #Casect.

About Casect

Born from decades of tracking cases with stickers, notes, and spreadsheets, Casect empowers surgeons with efficient, comprehensive tools to document cases, collaborate, and drive professional growth. By simplifying the case log, Casect helps surgeons identify trends, enhance skills, and improve patient outcomes. For more information, visit www.casect.com or follow us on X, Facebook, Instagram, and LinkedIn @CasectLLC.

CONTACT: support@casect.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/casect-launches-ai-enhanced-case-log-platform-for-surgeons-302339133.html

SOURCE Casect, LLC

Technology

Interact Marketing Expands AI Marketing Offerings for 2025

Published

4 hours ago

December 25, 2024

Campaign Optimization, Video, and Content lead the pack.

NEWBURGH, N.Y., Dec. 25, 2024 /PRNewswire-PRWeb/ — Interact Marketing, a leading national digital marketing agency in Newburgh, is thrilled to announce the expansion of its AI-powered marketing solutions for 2025. With a focus on cutting-edge campaign optimization, AI-enhanced video production, and content generation, Interact Marketing continues to push the boundaries of what’s possible in digital marketing innovation.

“As AI technology evolves, so do our strategies,” said Joe Beccalori, CEO of Interact Marketing. “Our expanded AI offerings represent a commitment to helping businesses thrive in an increasingly competitive digital landscape, especially search.”

Revolutionizing Campaign Optimization
Leveraging advanced machine learning algorithms, Interact Marketing’s AI tools now provide unprecedented insights into campaign performance. These enhancements enable businesses to predict customer behaviors, optimize ad placements in real-time, and achieve higher ROI through precise targeting and budget allocation.

AI-Driven Video Production
Video remains a cornerstone of digital engagement, and Interact Marketing is leading the charge with AI-assisted video production. The latest offerings include automated editing, personalized video content for targeted audiences, and AI-powered analytics to measure video effectiveness. These tools empower businesses to create dynamic video content that captivates and converts audiences.

Elevating Content Creation
In 2025, content reigns supreme, and Interact Marketing is ensuring clients stay ahead with AI-driven content solutions. From blog posts and social media updates to comprehensive SEO-optimized web content, AI technology enables faster production of high-quality, engaging material. The result is content that drives traffic, enhances brand visibility, and resonates with target audiences. Rigid human editing and content-humanization is also included to reduce over dependence on AI and protect against future algorithm decisions which may penalize pure AI content.

A Commitment to Innovation
“As AI technology evolves, so do our strategies,” said Joe Beccalori, CEO of Interact Marketing. “Our expanded AI offerings represent a commitment to helping businesses thrive in an increasingly competitive digital landscape, especially search. By harnessing the power of AI, we aim to deliver smarter, faster, and more impactful marketing solutions for our clients.”

Media Contact

Joe Beccalori, Interact Marketing, 845-567-7703, press@interactmarketing.com, www.InteractMarketing.com

View original content to download multimedia:https://www.prweb.com/releases/interact-marketing-expands-ai-marketing-offerings-for-2025-302338570.html

SOURCE Interact Marketing