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Nikola Corporation Reports Second Quarter 2024 Results

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Reported strongest topline in the history of the company, Q2 2024 revenue was $31.3M, up 318% from Q1Wholesaled 72 hydrogen fuel cell electric vehicles in Q2, exceeding the high-end of guidance, up 80% from Q1Created alternative revenue streams with our initial sale of regulatory creditsBEV “2.0” recall program on track for completion by year-end 2024

PHOENIX, Aug. 9, 2024 /PRNewswire/ — Nikola Corporation (Nasdaq: NKLA), a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, today reported financial results and business updates for the quarter ended June 30, 2024.

“In the last three quarters of serial production, we have demonstrated that Nikola is the offtake. We are the catalyst to disrupt Class 8 trucking to make zero-emission a reality,” said Steve Girsky, President and CEO of Nikola. “We are the only OEM with Class 8 FCEVs commercially available in North America today. Our trucks are put to the test every day by end fleet users, hauling freight and delivering to their customers. Q2 is an example of how we’re approaching the intersection of mission and reality and how Nikola is out front, charting the course.” 

Hydrogen Fuel Cell Electric Truck

In Q2, we exceeded the high-end of the guidance range by delivering 72 hydrogen fuel cell electric vehicles (FCEVs) to our dealer network. That makes 147 wholesaled FCEVs in the first three quarters of serial production. Last quarter, we talked about the importance of expanding our reach to meet the demands of end fleet users virtually anywhere in North America. Walmart Canada is the first major retailer in Canada to introduce a hydrogen fuel cell electric semi-truck to its fleet. We also received repeat orders from two national accounts. Nikola’s Profitability Flywheel is beginning to gain momentum with these national accounts, as each of these end fleets grows its zero-emission presence to achieve decarbonization goals. 

We continue to delight fleet users with data-driven quality and performance. To date, our FCEV end fleets have traveled more than 550K miles with an average fuel economy of 7.2 mi/kg, validating our performance benchmark. We collect field data every day and the numbers bear out. On a converted basis, our FCEVs outperformed the average Class 8 truck on fuel economy and avoidance of tailpipe emissions. We estimate the average miles per gallon (mpg) diesel equivalent of our FCEV is 8.0, or 23% better, than the Class 8 fuel economy average of 6.5/diesel gallon equivalent (DGE) per the Department of Energy. Moreover, in-service FCEVs have consumed more than 77 metric tons of hydrogen dispensed at various Nikola fueling solutions. In total, we estimate our FCEV end fleet operations have avoided approximately 867 metric tons of CO2 tailpipe emissions.*

HYLA Energy

We’re delivering HYLA fueling solutions to support volume ramp up. As a strategy, we are launching stations and deploying assets where we anticipate demand. It is our objective to stay ahead of FCEV deployment so that fueling solutions are ready and available for end fleets. To that end, since the Q1 earnings call, we opened a HYLA branded station in Toronto, Ontario, Canada and completed commissioning a modular station in Santa Fe Springs in Southern Calif. We also added another modular refueler at our Ontario, Calif. station, doubling capacity. We recently had a record day in Ontario, with 28 FCEVs refueled and more than 850kg of hydrogen dispensed in one day. Likewise, through our work with Shell, our fleet customers have been able to fuel at Shell’s heavy-duty station in Ontario, CA, where density has been growing. Our stations run 24/7 to support the around-the-clock operations of our fleet users.

Constructive Green Policies

We continued to maintain our dominant share of HVIP vouchers in Calif. At quarter-end, we had 99% of FCEV and 23% of battery-electric vehicle (BEV) HVIP vouchers. We also created alternative revenue streams from the sale of regulatory credits. We recognized our first sale agreement of NOx and PM credits in the quarter. We expect this revenue stream to grow as volume increases each model year.

Battery-Electric Truck

We continued to make progress returning BEVs to our dealer network and end fleet users. We remain on track to complete the recall program by year-end 2024. Feedback on returned units has been overwhelmingly positive and over-the-air updates continue to reach customers.

Second Quarter Financial Highlights

 Three Months Ended
June 30,

 Six Months Ended
June 30,

(In thousands, except share and per share data)

2024

2023

2024

2023

Trucks produced

77

33

120

96

Trucks shipped

73

45

113

76

Total revenues

$          31,319

$          15,362

$          38,816

$          26,039

Gross profit (loss)

$         (54,726)

$         (27,631)

$       (112,301)

$         (50,328)

Gross margin

(175) %

(180) %

(289) %

(193) %

Loss from operations

$       (131,124)

$       (168,626)

$       (276,487)

$       (295,826)

Net loss from continuing operations

$       (133,674)

$       (140,010)

$       (281,396)

$       (285,261)

Net loss on discontinued operations

$                 —

$         (77,818)

$                  —

$       (101,661)

Net loss

$       (133,674)

$       (217,828)

$       (281,396)

$       (386,922)

Adjusted EBITDA (1)

$       (109,396)

$       (125,068)

$       (213,427)

$       (228,756)

Net loss from continuing operations per share, basic and diluted

$              (2.86)

$             (5.93)

$             (6.17)

$           (13.59)

Net loss from discontinued operations

$                  —

$             (3.29)

$                  —

$             (4.85)

Non-GAAP net loss per share, basic and diluted(1)

$              (2.67)

$             (5.90)

$             (5.29)

$           (12.35)

Weighted-average shares outstanding, basic and diluted

46,699,945

23,623,094

45,614,635

20,987,679

(1) A reconciliation of the non-GAAP versus GAAP information is provided below in the financial statement tables in this press release.

Webcast and Conference Call Information

Nikola will host a webcast to discuss its second quarter results and business progress at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) on August 9, 2024. To access the webcast, parties in the United States should follow this link.

The live audio webcast, along with supplemental information, will be accessible on the Company’s Investor Relations website here. A recording of the webcast will also be available following the earnings call.

*Average emissions avoidance estimate based on total end fleet odometer mileage, avg. 6.5 mi/diesel gallon equivalent fuel economy of Class 8 trucks (per DOE), and the mobile combustion emission factor of 10.21 kg CO2 per gallon of diesel fuel (per EPA).

About Nikola Corporation

Nikola Corporation’s mission is clear: pioneering solutions for a zero-emissions world. As an integrated truck and energy company, Nikola is transforming commercial transportation, with our Class 8 vehicles, including battery-electric and hydrogen fuel cell electric trucks, and our energy brand, HYLA, driving the advancement of the complete hydrogen refueling ecosystem, covering supply, distribution and dispensing.

Nikola headquarters is based in Phoenix, Ariz. with a manufacturing facility in Coolidge, Ariz.

Experience our journey to achieve your sustainability goals at nikolamotor.com or engage with us on social media via Facebook @nikolamotorcompany, Instagram @nikolamotorcompany, YouTube @nikolamotorcompany, LinkedIn @nikolamotorcompany or X / Twitter @nikolamotor

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Nikola Corporation (the “Company”), including statements relating to: the Company’s future financial and business performance, business plan, strategy, focus, opportunities and milestones; the benefits and momentum in the Company’s profitability flywheel; customer demand for trucks; the Company’s beliefs regarding its competition and competitive position; the Company’s business outlook; the Company’s expectations regarding hydrogen refueling solutions and timelines; expectations related to the battery-electric truck recall, including timing of battery replacement and truck deliveries and sales; the Company’s beliefs regarding the benefits and attributes of its trucks, and customer experience; estimated average mileage per gallon diesel equivalent; estimated avoidance of tailpipe emissions; and government incentives including CARB credits and expectations regarding related revenue. These forward-looking statements other than statements of historical fact, and generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: successful execution of the Company’s business plan; design and manufacturing changes and delays, including shortages of parts and materials and other supply challenges; general economic, financial, legal, regulatory, political and business conditions and changes in domestic and foreign markets; demand for and customer acceptance of the Company’s trucks and hydrogen refueling solutions; the results of customer pilot testing; the execution and terms of definitive agreements with strategic partners and customers; the failure to convert LOIs or MOUs into binding orders; the cancellation of orders; risks associated with development and testing of fuel cell power modules and hydrogen storage systems; risks related to the recall, including higher than expected costs, the discovery of additional problems, delays retrofitting the trucks and delivering such trucks to customers, supply chain and other issues that may create additional delays, order cancellations as a result of the recall, litigation, complaints and/or product liability claims, and reputational harm; risks related to the rollout of the Company’s business and milestones and the timing of expected business milestones; actual driving conditions and other factors that affect vehicle range; changes in methodology, inputs, assumptions or other factors used to estimate average mileage per gallon diesel equivalent or avoidance of tailpipe emissions; the effects of competition on the Company’s business; the Company’s capital needs ability to raise capital; the Company’s ability to achieve cost reductions and decrease its cash usage; the grant, receipt and continued availability of federal and state incentives; and the factors, risks and uncertainties regarding the Company’s business described in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q, for the quarter ended March 31, 2024 filed with the SEC, in addition to the Company’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause the Company’s actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Use of Non-GAAP Financial Measures

This press release references Adjusted EBITDA and non-GAAP net loss per share, basic and diluted, all of which are non-GAAP financial measures and are presented as supplemental measures of the Company’s performance. The Company defines Adjusted EBITDA as earnings before interest expense, taxes, depreciation and amortization, stock-based compensation expense, and certain other items determined by the Company. Non-GAAP net loss is defined as net loss adjusted for stock-based compensation expense and certain other items determined by the Company. Non-GAAP net loss per share, basic and diluted is defined as non-GAAP net loss divided by weighted average basic and diluted shares outstanding. These non-GAAP measures are not substitutes for or superior to measures of financial performance prepared in accordance with generally accepted accounting principles in the United States (GAAP) and should not be considered as an alternative to any other performance measures derived in accordance with GAAP.

The Company believes that presenting these non-GAAP measures provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational-decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(Unaudited)

Three Months Ended
June 30,

 Six Months Ended
June 30,

2024

2023

2024

2023

Revenues:

Truck sales

$                28,743

$                12,006

$                36,161

$                22,061

Service and other

2,576

3,356

2,655

3,978

Total revenues

31,319

15,362

38,816

26,039

Cost of revenues:

Truck sales

78,994

40,203

140,741

73,223

Service and other

7,051

2,790

10,376

3,144

Total cost of revenues

86,045

42,993

151,117

76,367

Gross loss

(54,726)

(27,631)

(112,301)

(50,328)

Operating expenses:

Research and development (1)

40,161

64,514

79,658

126,320

Selling, general, and administrative (1)

36,237

58,764

84,528

101,461

Loss on supplier deposits

17,717

17,717

Total operating expenses

76,398

140,995

164,186

245,498

Loss from operations

(131,124)

(168,626)

(276,487)

(295,826)

Other income (expense):

Interest expense, net

(3,941)

(8,749)

(6,219)

(18,582)

Gain on divestiture of affiliate

70,849

70,849

Loss on debt extinguishment

(1,529)

(20,362)

(2,313)

(20,362)

Other income (expense), net

3,893

(5,505)

4,753

(5,315)

Loss before income taxes and equity in net loss of affiliates

(132,701)

(132,393)

(280,266)

(269,236)

Income tax expense

92

92

Loss before equity in net loss of affiliates

(132,793)

(132,393)

(280,358)

(269,236)

Equity in net loss of affiliates

(881)

(7,617)

(1,038)

(16,025)

Net loss from continuing operations

(133,674)

(140,010)

(281,396)

(285,261)

Discontinued operations:

Loss from discontinued operations

(52,883)

(76,726)

Loss from deconsolidation of discontinued operations

(24,935)

(24,935)

Net loss from discontinued operations

(77,818)

(101,661)

Net loss

$             (133,674)

$             (217,828)

$             (281,396)

$             (386,922)

Basic and diluted net loss per share (2):

Net loss from continuing operations

$                   (2.86)

$                   (5.93)

$                   (6.17)

$                 (13.59)

Net loss from discontinued operations

$                        —

$                   (3.29)

$                        —

$                   (4.85)

Net loss

$                   (2.86)

$                   (9.22)

$                   (6.17)

$                 (18.44)

Weighted-average shares outstanding, basic and diluted (2)

46,699,945

23,623,094

45,614,635

20,987,679

 

(1) Includes stock-based compensation as follows:

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

Cost of revenues

$                    352

$                    668

$                    680

$                 1,399

Research and development

2,493

6,574

5,352

15,660

Selling, general, and administrative

5,105

18,467

10,704

33,198

Total stock-based compensation expense

$                 7,950

$              25,709

$              16,736

$              50,257

(2) Shares issued and outstanding have been adjusted to reflect the one-for-thirty (1-for-30) reverse stock split that became effective on June 24, 2024.

 

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)

June 30,

December 31,

2024

2023

(Unaudited)

Assets

Current assets

Cash and cash equivalents

$                   256,330

$                   464,715

Restricted cash and cash equivalents

10,200

1,224

Accounts receivable, net

39,840

17,974

Inventory

62,134

62,588

Prepaid expenses and other current assets

61,599

25,911

Total current assets

430,103

572,412

Restricted cash and cash equivalents

16,086

28,026

Long-term deposits

8,887

14,954

Property, plant and equipment, net

494,023

503,416

Intangible assets, net

82,161

85,860

Investment in affiliate

56,024

57,062

Goodwill

5,238

5,238

Other assets

17,392

7,889

Total assets

$                1,109,914

$                1,274,857

Liabilities and stockholders’ equity

Current liabilities

Accounts payable

$                      55,559

$                      44,133

Accrued expenses and other current liabilities

213,980

207,022

Debt and finance lease liabilities, current

11,806

8,950

Total current liabilities

281,345

260,105

Long-term debt and finance lease liabilities, net of current portion

266,390

269,279

Operating lease liabilities

7,362

4,765

Other long-term liabilities

31,264

21,534

Total liabilities

586,361

555,683

Commitments and contingencies

Stockholders’ equity

Preferred stock

Common stock

5

4

Additional paid-in capital

3,876,034

3,790,401

Accumulated deficit

(3,352,465)

(3,071,069)

Accumulated other comprehensive loss

(21)

(162)

Total stockholders’ equity

523,553

719,174

Total liabilities and stockholders’ equity

$                1,109,914

$                1,274,857

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Six Months Ended June 30,

2024

2023

Cash flows from operating activities

Net loss

$                 (281,396)

$                 (386,922)

Less: Loss from discontinued operations

(101,661)

Loss from continuing operations

(281,396)

(285,261)

Adjustments to reconcile net loss from continuing operations to net cash used in operating activities:

Depreciation and amortization

21,688

11,762

Stock-based compensation

16,736

50,257

Equity in net loss of affiliates

1,038

16,025

Revaluation of financial instruments

(2,147)

7,906

Revaluation of contingent stock consideration

(2,472)

Inventory write-downs

37,576

12,718

Non-cash interest expense

7,835

19,363

Loss on supplier deposits

17,717

Gain on divestiture of affiliate

(70,849)

Loss on debt extinguishment

2,313

20,362

Loss on disposal of assets

3,158

Other non-cash activity

3,680

1,015

Changes in operating assets and liabilities:

Accounts receivable, net

(21,866)

11,640

Inventory

(38,132)

11,725

Prepaid expenses and other current assets

(20,029)

(48,583)

Other assets

(962)

(2,041)

Accounts payable, accrued expenses and other current liabilities

6,234

(59,474)

Long-term deposits

(278)

(1,293)

Operating lease liabilities

(1,739)

(779)

Other long-term liabilities

16,135

3,097

Net cash used in operating activities

(250,156)

(287,165)

Cash flows from investing activities

Purchases and deposits of property, plant and equipment

(30,182)

(87,719)

Proceeds from the sale of assets

21,398

Divestiture of affiliate

35,000

Payments to Assignee

(2,724)

Investments in affiliate

(84)

Net cash used in investing activities

(8,784)

(55,527)

Cash flows from financing activities

Proceeds from the exercise of stock options

1,040

Proceeds from issuance of shares under the Tumim Purchase Agreements

67,587

Proceeds from registered direct offering, net of underwriter’s discount

63,806

Proceeds from public offering, net of underwriter’s discount

32,244

Proceeds from issuance of common stock under Equity Distribution Agreement, net of commissions and other fees paid

52,201

61,565

Proceeds from issuance of convertible notes, net of discount and issuance costs

52,075

Proceeds from issuance of financing obligation, net of issuance costs

49,605

Proceeds from insurance premium financing

4,598

3,909

Repayment of debt and promissory notes

(261)

(5,057)

Payment for Coupon Make-Whole Premium

(4,530)

Payments on insurance premium financing

(1,853)

(2,381)

Payments on finance lease liabilities and financing obligation

(2,564)

(255)

Net cash provided by financing activities

47,591

324,138

Net decrease in cash and cash equivalents, including restricted cash and cash equivalents

(211,349)

(18,554)

Cash and cash equivalents, including restricted cash and cash equivalents, beginning of period

493,965

313,909

Cash and cash equivalents, including restricted cash and cash equivalents, end of period

$                   282,616

$                   295,355

Cash flows from discontinued operations:

Operating activities

$                            —

$                     (4,964)

Investing activities

(1,804)

Financing activities

(572)

Net cash used in discontinued operations

$                            —

$                     (7,340)

 

Reconciliation of GAAP Financial Metrics to Non-GAAP

(In thousands, except share and per share data)

(Unaudited)

Reconciliation of Net Loss from continuing operations to EBITDA and Adjusted EBITDA

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

(in thousands)

Net loss from continuing operations

$          (133,674)

$          (140,010)

$          (281,396)

$          (285,261)

Interest expense, net

3,941

8,749

6,219

18,582

Income tax expense

92

92

Depreciation and amortization

11,092

5,524

21,688

11,762

EBITDA

(118,549)

(125,737)

(253,397)

(254,917)

Stock-based compensation

7,950

25,709

16,736

50,257

Loss on supplier deposits

17,717

17,717

Gain on divestiture of affiliate

(70,849)

(70,849)

Loss on debt extinguishment

1,529

20,362

2,313

20,362

Loss on disposal of assets

470

3,158

Equipment purchase cancellation

15,613

Revaluation of financial instruments

(2,972)

5,633

(2,147)

5,434

Regulatory and legal matters (1)

2,176

2,097

4,297

3,240

Adjusted EBITDA

$          (109,396)

$          (125,068)

$          (213,427)

$          (228,756)

(1) Regulatory and legal matters include legal, advisory, and other professional service fees incurred in connection with a short-seller article from September 2020, and investigations and litigation related thereto.

 

Reconciliation of GAAP to Non-GAAP Net Loss, and GAAP to Non-GAAP Net Loss per Share, basic and diluted

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

(in thousands, except share and per share data)

Net loss from continuing operations

$          (133,674)

$          (140,010)

$          (281,396)

$          (285,261)

Stock-based compensation

7,950

25,709

16,736

50,257

Loss on supplier deposits

17,717

17,717

Gain on divestiture of affiliate

(70,849)

(70,849)

Loss on debt extinguishment

1,529

20,362

2,313

20,362

Revaluation of financial instruments

(2,972)

5,633

(2,147)

5,434

Loss on disposal of assets

470

3,158

Equipment purchase cancellation

15,613

Regulatory and legal matters (1)

2,176

2,097

4,297

3,240

Non-GAAP net loss

$          (124,521)

$          (139,341)

$          (241,426)

$          (259,100)

Net loss from continuing operations per share, basic and diluted (2)

$                 (2.86)

$                 (5.93)

$                 (6.17)

$               (13.59)

Non-GAAP net loss per share, basic and diluted

$                 (2.67)

$                 (5.90)

$                 (5.29)

$               (12.35)

Weighted average shares outstanding, basic and diluted (2)

46,699,945

23,623,094

45,614,635

20,987,679

(1) Regulatory and legal matters include legal, advisory, and other professional service fees incurred in connection with a short-seller article from September 2020, and investigations and litigation related thereto.

(2) Shares issued and outstanding have been adjusted to reflect the one-for-thirty (1-for-30) reverse stock split that became effective on June 24, 2024.

 

Reconciliation of Cash flows to Adjusted Free Cash Flow

Three Months Ended June 30,

Six Months Ended June 30,

2024

2023

2024

2023

(in thousands)

Most comparable GAAP measure:

Net cash used in operating activities

$          (134,553)

$          (111,143)

$          (250,156)

$          (287,165)

Net cash used in investing activities

(13,724)

(5,010)

(8,784)

(55,527)

Net cash provided by financing activities

52,646

208,222

47,591

324,138

Non-GAAP measure:

Net cash used for operating activities

(134,553)

(111,143)

(250,156)

(287,165)

Purchases of property, plant and equipment

(13,724)

(37,202)

(30,182)

(87,719)

Adjusted free cash flow

$          (148,277)

$          (148,345)

$          (280,338)

$          (374,884)

 

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SOURCE Nikola Corporation

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Technology

CMC Japan Opens Third Office: A Major Step In AI Transformation and Business Expansion

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HANOI, Vietnam, Sept. 23, 2024 /PRNewswire/ — On September 18, CMC Japan – the Japanese subsidiary of CMC Global celebrated the opening of its third office in Tokyo –  a key milestone in its 7-year journey of bringing Vietnamese technology to Japan. This expansion highlights CMC Japan’s leadership in advancing the “AI-X” strategy, further solidifying its position following its membership in the Japan Business Federation (Keidanren). 

Under the theme “Enable Your AI-X,” the inauguration ceremony of CMC Japan‘s third office was held at the Gajoen Tokyo Hotel, Japan, underscoring CMC’s efforts to accelerate the global “AI Transformation” Strategy for the 2024-2028 period. The new office is a pivotal step in executing this ambitious vision. 

Presenting about the AI Transformation Strategy, Mr. Nguyen Chung Chinh Chairman/CEO of CMC Corporation, stated: “Japan has been a cornerstone in CMC’s global expansion strategy for over three decades. Our achievements in Japan have paved the way for further growth in challenging markets like the U.S. and Europe. Opening our third office here marks a significant moment in our journey, reaffirming CMC’S dedication to leading AI transformation and providing cutting-edge solutions that empower clients in their digital transformation and AI-driven optimization.” 

On this occasion, CMC Japan also announced its membership in Keidanren, one of the most influential organizations in Japan’s foreign economic relations and economic policy development. This opens the door to strategic collaboration with leading corporations and reaffirms CMC’s commitment to contributing to Japan’s socio-economic development through advanced AI solutions. 

 

 

 

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SOURCE CMC Global

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TECNO SPARK 30 Series Launches with TRANSFORMERS Edition, Converting Next-level Fluency and Durability

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HONG KONG, Sept. 22, 2024 /PRNewswire/ — Innovative technology brand TECNO announces the debut of its latest smartphone, the SPARK 30 Series, featuring a dynamic lineup of five models including the exciting SPARK 30 Series TRANSFORMERS Edition. The new series brings revolutionary durability and playability with 5-year guaranteed lag-free performance, more immersive audiovisuals, an incredible main camera and much more.

The SPARK 30 Series features a special TRANSFORMERS Edition, under license by TRANSFORMERS brand from leading toy and game company Hasbro, made up of SPARK 30 Pro Optimus Prime Edition and SPARK 30 Bumblebee Edition. In addition to powerful performance, these special devices feature iconic TRANSFORMERS elements, delivering iconic design, entertainment, and interaction like never before.

“The SPARK 30 Series is poised to revolutionize the smartphone experience, offering a symphony of unparalleled features and a coveted exclusive TRANSFORMERS Edition,” said Jack Guo, General Manager of TECNO. “With continuous enhancements to the SPARK Series, we are ensuring that vibrant, tech-savvy youth to embrace and revel in the power of our innovations to create new possibilities.” 

Creating Seamless Fluency and Durability Assured by a 5-year Lag-free Commitment

The SPARK 30 Series gives users long-lasting value for money. Certified by TÜV Rheinland, SPARK 30 Pro offers incredible 5-year lag-free operation, standing out in its class as a must-have device for a seamless experience.

Making everyday use even smoother, the SPARK 30 Series is equipped with exceptional battery capacity, impressive storage and powerful performance, with battery health at 80%+ enduring after 1,000 charge cycles. The SPARK 30 Pro’s convenient 33W Fast Charge offers 3 intelligent charging modes and can charge the device from 0-100% in approximately 70 minutes. The SPARK 30 Series offers up to 256GB+16GB (8GB Extended RAM) storage with a system slimming feature that frees up ROM space. The SPARK 30 Pro is powered by MediaTek Helio G100 processor, boasting an Antutu score over 420,000, adding to the fluid performance even more.

With super WIFI and ultra-fast 4.5G Lightning Network, consumers can enjoy enhanced online smoothness. The 4.5G Lightning Network on SPARK 30 Pro delivers speeds up to 100% faster than 4G, with download speeds reaching up to 300Mbps, while super WIFI sets internet speeds apart in a crowd, improving ability to access networks by 616% compared to without this feature. Leveraging its exceptional performance, the SPARK 30 Series demonstrates power and durability akin to that of the formidable TRANSFORMERS robots.

Inspiring with a Design Rebirth Full of the Transformers’ Visual Splendor

Complementing its ultimate performance, the TECNO SPARK 30 Series features a trendy, sleek and tech-infused design. The SPARK family’s signature large circular design is now enhanced and refined for a more streamlined appearance. With a 7.4mm ultra-thin body, the SPARK 30 Pro embraces the emerging minimalist technology trend, bringing an unprecedented grip experience in-hand. With evolved Magic Skin 3.0, it provides a blend of soft plush and premium leather with an ultra-refined texture.

Taking inspiration from the unstoppable TRANSFORMERS robots, Optimus Prime and Bumblebee, the SPARK 30 Series TRANSFORMERS Edition infuses technology with a Cybertronian-inspired design texture.  The integrated DECO design crafted with a metallic sheen and precision color coordination, adding a vibrant look while paying homage to the resilience of the iconic characters. Additionally, the edition debuts a customized interface adorned with TRANSFORMERS motifs, bringing the iconic world to life and providing a dynamic platform for users of all ages to express their love for the franchise.

Captivating with an Exceptional Audiovisual Entertainment Experience

The SPARK 30 Series creates an immersive entertainment space for users through vibrant audiovisual experiences. The SPARK 30 Pro, which features 120Hz AMOLED Eye-care Screen recognized by TÜV Low Blue Light Eye certification, delivers vivid images while providing an eye-friendly experience. The 100% full-link DCI-P3 cinema-level color gamut and 10bit color depth bring a broader color range and more accurate color expression for entertainment and enjoyment.

On the audio front, the SPARK 30 Series provides symmetrical stereo sound. With Volume Plus 2.0 algorithms and a Dual Speaker, the SPARK 30 Pro delivers up to 300% full-scene louder volume for an immersive and balanced sound. The addition of Dolby Atmos and Hi-Res certified speakers significantly enhances entertainment quality.

Furthermore, the SPARK 30 Series is also equipped with the Infrared Remote Control for 15 household devices, allowing intelligent control of home life, enabling a personalized space at will.

On the camera front, the SPARK 30 Pro boasts a 108MP main camera, complemented by 3x lossless zoom and 10x digital zoom, delivering finely tuned images no matter the distance. The SPARK 30’s SONY IMX682 Main Camera with 64MP, offers larger pixels, greater detail, and increased cropping flexibility. Equipped with TECNO AI, the SPARK 30 Series offers an array of advanced AI-driven features, including AIGC portrait, AI Eraser and AI Artboard, enhancing your productivity and creativity.

Lead by the masterful SPARK 30 and SPARK 30 Pro, the new SPARK 30 Series also features the exceptional SPARK 30C, SPARK 30 5G and SPARK 30C 5G. As well as a groundbreaking special edition device, the TRANSFORMERS collaboration adds a further layer of excitement for energetic youth, with exclusive branded merchandise and gift sets also available.

About TECNO

As a global innovative technology brand with operations in over 70 markets, TECNO has been committed to revolutionizing the digital experience in global emerging markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. TECNO offers a wide range of smartphones, smart wearables, laptops and tablets, HiOS operating systems and smart home products. Guided by its brand essence of “Stop At Nothing”, TECNO is committed to unlocking the best and newest technologies for forward-looking individuals, inspiring them to never stop pursuing their best selves and their best futures. For more information, please visit TECNO’s official site: www.tecno-mobile.com.

ABOUT HASBRO 

Hasbro is a leading toy and game company whose mission is to entertain and connect generations of fans through the wonder of storytelling and exhilaration of play. Hasbro delivers play experiences for fans of all ages around the world, through toys, games, licensed consumer products, digital games and services, location-based entertainment, film, TV, and more. With a portfolio of over 1,800 iconic brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, Hasbro Gaming, NERF, TRANSFORMERS, PLAY-DOH and PEPPA PIG, as well as premier partner brands, Hasbro brings fans together wherever they are, from tabletop to screen. 

Hasbro is guided by our Purpose to create joy and community for all people around the world, one game, one toy, one story at a time. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media, one of the World’s Most Ethical Companies by Ethisphere Institute and one of the 50 Most Community-Minded Companies in the U.S. by the Civic 50. For more information, visit https://corporate.hasbro.com or @Hasbro on LinkedIn. 

ABOUT TRANSFORMERS 

The TRANSFORMERS brand is a global powerhouse franchise with millions of fans around the world. Since 1984, the battle between the Autobots and Decepticons has come to life in movies, TV shows, comic books, innovative toys, and digital media, bringing incredible “MORE THAN MEETS THE EYE” experiences to fans of all ages. The brand’s enduring connection is made possible by its rich storytelling and characters: the heroic Autobots who seek to protect all life.

 

 

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SOURCE TECNO

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DeepL unveils industry-first Glossary Generator to solve business communication and brand consistency challenges

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Enhanced DeepL glossary functionality – including new glossary generator, expanded language support and more – will boost global business translations, saving time, effort, and costs

COLOGNE, Germany, Sept. 23, 2024 /PRNewswire/ — DeepL, a leading global Language AI company, today announced several updates to its glossary feature, which is a powerful tool that enhances translation consistency and accuracy by enabling professionals and companies to personalize translations for specific terms. The tool now offers the industry’s first smart glossary generator, which helps simplify and speed up the process of creating glossaries for translations. Glossary is also available in several new languages and within DeepL’s browser extensions and integrations, fitting seamlessly into existing workflows to offer an even more accessible and smooth user experience across the web and applications like Google Workspace and Microsoft 365.

“AI-powered translations are essential for businesses looking to overcome language barriers in today’s increasingly connected world, and DeepL’s powerful glossary tool takes this a step further by ensuring translations are personalized to a company’s unique phrases and needs,” said Christopher Osborne, VP of Product, DeepL. “We’re always looking for ways to improve the DeepL experience and drive even more value and ROI for 100,000+ customers worldwide, and these new capabilities make our glossary even more efficient, accessible and user-friendly – empowering teams to achieve the customization and consistency they are looking for, while minimising time spent on costly alternatives like manual translations or find-and-replace tools.”

For global businesses aiming to drive revenue growth, investing in brand consistency across all communications and languages is essential to ensure that every message—whether technical terminology, product names, or branded terms—resonates clearly with teams, customers, and markets worldwide. Consistent branding has been proven to increase revenue by 20% or more[1] and enhance visibility by 3 to 4 times[2] – however, maintaining this consistency can be expensive and complex. DeepL’s glossary tool simplifies this process, helping businesses and professionals easily create and scale high-quality, consistent multilingual communications across teams. With glossary, companies can create and manage custom translation glossaries to ensure that specific words or phrases are translated consistently according to their unique terminology.

DeepL’s glossary now offers the following expanded capabilities:

The industry’s first smart, AI-powered glossary generator: DeepL’s new glossary generator is a first-of-its-kind tool enabling teams to create custom translation glossaries with a simple file upload. Previously translated files can be leveraged to generate entries for personalized DeepL glossaries, reducing the need for manual work and significantly enhancing efficiency, enabling teams to facilitate more consistent communication at scale.Expanded glossary language functionality: Glossary now supports Korean, Danish, Swedish, Norwegian, and Romanian translations, bringing the total number of languages to 16. This allows for more precise and nuanced translations across a wider range of linguistic contexts, helping businesses reach a broader audience.More convenient access across DeepL platforms: Users are now able to access and apply the glossary directly within the DeepL browser extensions for Chrome and Edge, enabling consistent translations across the web, including Google Workspace applications. Furthermore, the glossary can now also be applied directly within DeepL for Microsoft 365 integrations, including Word, Outlook, and PowerPoint. Additionally, the glossary can be accessed through DeepL’s web browser, desktop apps, and API.

Unlike other find-and-replace tools, DeepL’s glossary excels with its advanced contextual understanding and ability to process complex grammatical elements—such as case, gender, and tense—to deliver nuanced, natural-sounding translations. This results in substantial productivity gains, largely due to the time saved in post-editing. Blind tests with language experts show that DeepL reduces post-editing time by 30% compared to Google Translate and 20% compared to Chat GPT-4. Furthermore, DeepL requires significantly fewer edits, with Google Translate and Chat GPT-4 needing two to three times as many feedback rounds.

Glossary with DeepL Pro also offers enhanced data security, including proprietary data centers, the highest level of certification and compliance standards (ISO 27001 certification, GDPR/SOC 2 type 2 compliance), data encryption, and a commitment to never using Pro customer data to train models.

DeepL’s glossary generator is now available to Pro Advanced and Ultimate subscribers with support for TMX/DOCX/PDF files. It is initially available for glossaries in German, Spanish, Japanese, Italian, French, and Russian (to and from English), with more languages coming soon.

Learn more about DeepL Pro and try out glossary yourself here.

About DeepL

DeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses and governments and millions of individuals in 228 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets, and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP, and Index Ventures.

[1] Marq, “2021 Brand Consistency Report”
[2] Demand Metric x Lucid Press, “Impact of Brand Consistency” Report, 2016

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SOURCE DeepL

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