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Nauticus Robotics Announces Results for the Second Quarter of 2024

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HOUSTON, Aug. 13, 2024 /PRNewswire/ — Nauticus Robotics, Inc. (NASDAQ: KITT), a leading innovator in subsea robotics and software, today announced its financial results for the quarter ended June 30, 2024.

“I would like to thank our existing lenders for their continued support. Their steady conversion of warrants and convertible debentures improve our market cap and reduce our interest burden and our leverage,” said John Gibson, Nauticus’ CEO and President. “We successfully completed Phase I of a program for the largest offshore producer in Brazil. This phase has been billed and collected. We expect to complete Phase II without additional deepwater tests and can execute a significant portion of Phase III while in the Gulf of Mexico this year. We are committed to delivering supervised autonomy to subsea assets during Q3.”

Operational Highlights

Vehicle 2 Testing: Nauticus’ flagship vehicle, Aquanaut Mark 2 (Vehicle 2), underwent planned maintenance this quarter before shipping to Florida Atlantic University (FAU) for open water testing of capabilities refined after the vehicle’s initial Gulf of Mexico (GOM) testing during the first half of the year. The vehicle is planned to ship to Louisiana this month in anticipation of completing qualification testing.

Vehicle 1 Assembly: Vehicle 1 deepwater electronics upgrades are ongoing. Once the vehicle is fully assembled it is planned to ship to FAU to continue development and testing of the next set of vehicle capabilities. Vehicle 1 will become the test and qualification vehicle for these capabilities while Vehicle 2 remains revenue generating. Once new capability qualifications are complete, they will be loaded onto Vehicle 2 to expand Nauticus’ revenue generating opportunities by having two working vehicles with additional capabilities.

Vehicle 3 Assembly: Assembly of Vehicle 3 remains pending. Company focus has been on Vehicles 1 and 2 throughout the quarter.

FAU versus GOM Testing: The partnership with FAU for open water testing allows Nauticus to continue testing Vehicle 2 at a reduced cost compared to GOM open water testing. In addition, FAU provides the team with warehousing and shop facilities to perform minor maintenance as needed. The Atlantic Coast provides multiple deepwater locations close to shore containing bottom artifacts to fully test sensors and capabilities. These benefits will continue with testing of Vehicle 1 once its deepwater upgrades are complete.

Revenue: Nauticus reported second-quarter revenue of $0.5 million, compared to $1.1 million for the prior-year period and $0.5 million for the prior quarter. Q2 includes revenue recognized for the largest South American deepwater operator, an important step in reducing dependence on historical defense revenues.

Operating Expenses: Total expenses during the second quarter were $6.5 million, a $1.5 million decrease from the prior-year period, and a $0.5 million increase from Q1 2024.

Net Income: For the second quarter, Nauticus recorded a net loss of $5.4 million, or basic loss per share of $2.75. This compares with a net income of $20.7 million from the same period in 2023, and a net income of $0.4 million in the prior quarter.

Adjusted Net Loss: Nauticus reported adjusted net loss of $9.0 million for the second quarter, compared to $6.8 million for the same period in 2023. Adjusted net loss is a non-GAAP measure which excludes the impact of certain items, as shown in the non-GAAP reconciliation table below.

2024 G&A Cost: Nauticus reported G&A second-quarter costs of $3.2 million, which is a decrease of $2.3 million compared to the same period in 2023.

Balance Sheet and Liquidity

As of June 30, 2024, the Company had cash and cash equivalents of $8.1 million, compared to $0.8 million as of December 31, 2023.

In Q2, the Company closed additional debt financing of $1 million and raised $9.4 million through an at-the-market equity offering to provide liquidity needed for operations and testing.

Conference Call Details

Nauticus will host a conference call on August 14, 2024 at 10:00 a.m. Central Daylight Time (11:00 a.m. EDT) to discuss its results for the quarter ending June 30, 2024. To participate in the earnings conference call, participants should dial toll free at 800-445-7795, conference ID: KITT, or access the listen-only webcast at the following link: https://events.q4inc.com/attendee/706796022. A link to the webcast will also be available on the Company’s website (https://ir.nauticusrobotics.com/). Following the conclusion of the call, a recording will be available on the Company’s website.

About Nauticus Robotics

Nauticus Robotics, Inc. develops autonomous robots for the ocean industries. Autonomy requires the extensive use of sensors, artificial intelligence, and effective algorithms for perception and decision allowing the robot to adapt to changing environments. The company’s business model includes using robotic systems for service, selling vehicles and components, and licensing of related software to both the commercial and defense business sectors. Nauticus has designed and is currently testing and certifying a new generation of vehicles to reduce operational cost and gather data to maintain and operate a wide variety of subsea infrastructure. Besides a standalone service offering and forward-facing products, Nauticus’ approach to ocean robotics has also resulted in the development of a range of technology products for retrofit/upgrading traditional ROV operations and other third-party vehicle platforms. Nauticus’ services provide customers with the necessary data collection, analytics, and subsea manipulation capabilities to support and maintain assets while reducing their operational footprint, operating cost, and greenhouse gas emissions, to improve offshore health, safety, and environmental exposure. 

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Act”), and are intended to enjoy the protection of the safe harbor for forward-looking statements provided by the Act as well as protections afforded by other federal securities laws. Such forward-looking statements include but are not limited to: the expected timing of product commercialization or new product releases; customer interest in Nauticus’ products; estimated operating results and use of cash; and Nauticus’ use of and needs for capital. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends,” or “continue” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that may cause actual events, results, or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Nauticus’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. There can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Nauticus is not under any obligation and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Nauticus has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”) for a more complete discussion of the risks and uncertainties facing the Company and that could cause actual outcomes to be materially different from those indicated in the forward-looking statements made by the Company, in particular the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC, including Nauticus’ Annual Report on Form 10-K filed with the SEC on April 10, 2024. Should one or more of these risks, uncertainties, or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. The documents filed by Nauticus with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov

 

NAUTICUS ROBOTICS, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

June 30, 2024

December 31, 2023

(Unaudited)

ASSETS

Current Assets:

Cash and cash equivalents

$                    8,122,943

$                       753,398

Restricted certificate of deposit

51,223

201,822

Accounts receivable, net

176,458

212,428

Inventories

2,217,507

2,198,797

Contract assets

482,576

–

Prepaid expenses

1,283,088

1,889,218

Other current assets

490,419

1,025,214

Assets held for sale

289,430

2,940,254

Total Current Assets

13,113,644

9,221,131

Property and equipment, net

16,500,849

15,904,845

Operating lease right-of-use assets

1,380,434

834,972

Other assets

204,296

187,527

Total Assets

$                  31,199,223

$                  26,148,475

LIABILITIES AND STOCKHOLDERS’ DEFICIT

Current Liabilities:

Accounts payable

$                    5,594,270

$                    7,035,450

Accrued liabilities

5,212,935

7,339,099

Contract liability

457,872

2,767,913

Operating lease liabilities – current

420,910

244,774

Total Current Liabilities

11,685,987

17,387,236

Warrant liabilities

1,192,693

18,376,180

Operating lease liabilities – long-term

1,035,713

574,260

Notes payable – long-term, net of discount (related party)

46,644,908

31,597,649

Total Liabilities

$                  60,559,301

$                  67,935,325

Stockholders’ Deficit

Common stock, $0.0001 par value; 625,000,000 shares authorized, 4,131,426
     and 1,389,884 shares issued, respectively, and 4,131,426 and 1,389,884
     shares outstanding, respectively (As adjusted)

$                               413

$                               139

Additional paid-in capital (As adjusted)

94,390,920

77,004,714

Accumulated deficit

(123,751,411)

(118,791,703)

Total Stockholders’ Deficit

(29,360,078)

(41,786,850)

Total Liabilities and Stockholders’ Deficit

$                  31,199,223

$                  26,148,475

 

NAUTICUS ROBOTICS, INC.
Unaudited Condensed Consolidated Statements of Operations

Three Months Ended

Six Months Ended

6/30/2024

3/31/2024

6/30/2023

6/30/2024

6/30/2023

Revenue:

Service

$          501,708

$          464,354

$      1,128,115

$          966,062

$      3,948,395

Service – related party

–

–

–

–

500

Total revenue

501,708

464,354

1,128,115

966,062

3,948,895

Costs and expenses:

Cost of revenue (exclusive of items shown
separately below)

2,875,394

2,093,955

1,900,602

4,969,349

4,832,869

Depreciation

411,586

426,185

53,209

837,771

326,308

Research and development

—

63,534

482,761

63,534

709,728

General and administrative

3,227,288

3,430,010

5,560,565

6,657,298

10,773,209

Total costs and expenses

6,514,268

6,013,684

7,997,137

12,527,952

16,642,114

Operating loss

(6,012,560)

(5,549,330)

(6,869,022)

(11,561,890)

(12,693,219)

Other (income) expense:

Other (income) expense, net

118,274

(96,473)

746

21,801

1,153,127

Gain on lease termination

(8,532)

(15,365)

(3,908)

(23,897)

(3,908)

Foreign currency transaction loss (gain)

4,296

5,147

(17,709)

9,443

(27,593)

Loss on exchange of warrants

–

–

590,266

–

590,266

Change in fair value of warrant liabilities

(4,422,701)

(8,309,623)

(29,668,454)

(12,732,324)

(27,431,550)

Interest expense, net

3,669,423

2,453,372

1,556,597

6,122,795

6,491,664

Total other income, net

(639,240)

(5,962,942)

(27,542,462)

(6,602,182)

(19,227,994)

Net income (loss)

$     (5,373,320)

$          413,612

$    20,673,440

$    (4,959,708)

$      6,534,775

Basic earnings (loss) per share (As adjusted)

$               (2.75)

$                 0.33

$              18.62

$              (2.97)

$                5.90

Diluted earnings (loss) per share (As adjusted)

$               (2.75)

$               (4.06)

$              17.70

$              (2.97)

$                5.79

Basic weighted average shares outstanding (As
adjusted)

1,950,563

1,239,881

1,110,091

1,667,187

1,107,580

Diluted weighted average shares outstanding (As
adjusted)

1,950,563

1,853,967

1,231,814

1,667,187

1,127,853

 

NAUTICUS ROBOTICS, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Six Months ended June 30,

2024

2023

Cash flows from operating activities:

Net income (loss)

$         (4,959,708)

$           6,534,775

Adjustments to reconcile net income (loss) to net cash used in operating activities:

Depreciation

837,771

326,308

Amortization of debt discount

3,242,443

1,878,376

Amortization of debt issuance cost

312,440

–

Accretion of RCB Equities #1, LLC exit fee

48,475

–

Stock-based compensation

1,339,965

3,077,027

Loss on exchange of warrants

–

590,266

Change in fair value of warrant liabilities

(12,732,324)

(27,431,550)

Non-cash impact of lease accounting

171,962

145,253

Gain on disposal of assets

(3,102)

–

Write off of property and equipment

29,350

–

Gain on lease termination

(23,897)

–

Gain on short-term investments

–

(40,737)

Changes in current assets and liabilities:

Accounts receivable

35,969

319,940

Inventories

(18,710)

(5,869,092)

Contract assets

(482,576)

(37,341)

Other assets

1,232,368

(1,045,514)

Accounts payable and accrued liabilities

(1,715,646)

8,733,185

Contract liabilities

(2,310,041)

–

Operating lease liabilities

(55,937)

(193,257)

Net cash used in operating activities

(15,051,198)

(13,012,361)

Cash flows from investing activities:

Capital expenditures

(351,942)

(6,102,253)

Proceeds from sale of assets held for sale

419,720

–

Proceeds from sale of property and equipment

6,802

–

Proceeds from sale of short-term investments

–

5,000,000

Net cash from (used in) investing activities

74,580

(1,102,253)

Cash flows from financing activities:

Proceeds from notes payable

14,305,000

–

Payment of debt issuance costs on notes payable

(1,316,791)

–

Proceeds from at-the-market (ATM) offering

9,857,857

–

Payment of at-the-market (ATM) commissions and fees

(499,903)

–

Proceeds from exercise of stock options

–

342,579

Proceeds from exercise of warrants

–

338,055

Net cash from financing activities

22,346,163

680,634

Net change in cash and cash equivalents

7,369,545

(13,433,980)

Cash and cash equivalents, beginning of year

753,398

17,787,159

Cash and cash equivalents, end of year

$           8,122,943

$           4,353,179

NAUTICUS ROBOTICS, INC.
Unaudited Reconciliation of Net Income (Loss) Attributable to Common Stockholders (GAAP) to Adjusted Net Loss
 Attributable to Common Stockholders (NON-GAAP)

Adjusted net loss attributable to common stockholders is a non-GAAP financial measure which excludes certain items that are included in net income (loss) attributable to common stockholders, the most directly comparable GAAP financial measure. Items excluded are those which the Company believes affect the comparability of operating results and are typically excluded from published estimates by the investment community, including items whose timing and/or amount cannot be reasonably estimated or are non-recurring.

Adjusted net loss attributable to common stockholders is presented because management believes it provides useful additional information to investors for analysis of the Company’s fundamental business on a recurring basis. In addition, management believes that adjusted net loss attributable to common stockholders is widely used by professional research analysts and others in the valuation, comparison, and investment recommendations of companies such as Nauticus.

Adjusted net loss attributable to common stockholders should not be considered in isolation or as a substitute for net income (loss) attributable to common stockholders or any other measure of a company’s financial performance or profitability presented in accordance with GAAP. A reconciliation of the differences between net income (loss) attributable to common stockholders and adjusted net loss attributable to common stockholders is presented below. Because adjusted net loss attributable to common stockholders excludes some, but not all, items that affect net income (loss) attributable to common stockholders and may vary among companies, our calculation of adjusted net loss attributable to common stockholders may not be comparable to similarly titled measures of other companies.

Three Months Ended

Six Months Ended

6/30/2024

3/31/2024

6/30/2023

6/30/2024

6/30/2023

Net income (loss) attributable to common stockholders
(GAAP)

$  (5,373,320)

$        413,612

$  20,673,440

$  (4,959,708)

$    6,534,775

Change in fair value of warrant liabilities

(4,422,701)

(8,309,623)

(29,668,454)

(12,732,324)

(27,431,550)

Stock compensation expense

809,310

432,053

1,214,863

1,339,965

3,077,027

Sales and use tax assessment

–

–

–

–

1,189,164

Loss on exchange of warrants

–

–

590,266

–

590,266

Interest and penalties on RRA Amendment

–

–

362,045

–

4,320,690

Adjusted net loss attributable to common stockholders
(non-GAAP)

$  (8,986,711)

$   (7,463,958)

$  (6,827,840)

$  (16,352,067)

$  (11,719,628)

 

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SOURCE Nauticus Robotics, Inc.

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Trainocate Wins Cisco Learning Partner of the Year – APJC for Second Consecutive Year

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November 15, 2024

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BANGALORE, India, Nov. 15, 2024 /PRNewswire/ — Trainocate Holdings, a leading global provider of technology and business training solutions, today announced that it has been awarded the Cisco Learning Partner of the Year 2024 for Asia Pacific, Japan, and China (APJC) for the second year in a row.

This prestigious award recognizes Trainocate’s outstanding performance, commitment to customer success, and dedication to delivering high-quality Cisco training programs across the region.

“To be recognized once was an honour beyond words, but to be bestowed this distinction again is truly humbling and a testament to the unwavering support and encouragement of those who have walked this journey with us,” said Takashi Ozawa, President & CEO of Trainocate Holdings. “We are deeply grateful for everyone who has been a part of our success. This award reflects our core values of collaboration, excellence, and customer centricity, and it inspires us to continue upholding them in everything we do.”

“Receiving the Cisco Learning Partner of the Year award for a second consecutive year is a true reflection of our team’s dedication and our unwavering pursuit of excellence,” said Khor Hee Soo, CTO of Trainocate Holdings, Managing Director for India, and Chairman for Sri Lanka and UAE. “This recognition not only celebrates the hard work of everyone at Trainocate but also reinforces our commitment to empowering individuals and organizations across the APJC region with transformative learning solutions. We are deeply grateful to Cisco for their partnership and look forward to continuing our journey of innovation and impact in the learning and development space.”

During the award ceremony held on 23 October 2024, Cisco highlighted Trainocate’s impressive achievements within the past year, including:

32% of Instructor-Led Training (ILT) seats sold in the APJC region.45% of Cisco U subscriptions sold in the APJC region.Exceptional learner satisfaction on score of 94%.

These accomplishments demonstrate Trainocate’s strong track record of delivering impactful and engaging learning experiences that help professionals achieve their career goals and organizations drive digital transformation.

As a Cisco Platinum Learning Partner, Trainocate offers a comprehensive portfolio of authorized Cisco training courses, certifications, and learning solutions. With over 29 years of experience, Trainocate is a trusted partner for organizations seeking to upskill their workforce and stay ahead of the curve in today’s rapidly evolving technology landscape.

About Trainocate Holdings

Trainocate Holdings is a leading provider of IT and professional training, offering a comprehensive range of courses and certifications across various domains.

Boasting a global presence in 22 countries (and counting!) and a commitment to excellence, Trainocate empowers individuals and organizations to achieve their full potential through continuous learning and development.

With 30+ authorized training partnerships and countless awards from leading technology vendors, you’re guaranteed learning from the industry’s elite when you #GetTrainocated.

For more information, visit Trainocate’s website www.trainocate.com.

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Can Independent Physicians Survive in 2025?

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20 minutes ago

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November 15, 2024

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Learn How at an Exclusive Webinar on Nov. 20th Hosted by Medical Economics and Specialdocs 

CHICAGO, Nov. 14, 2024 /PRNewswire/ — In healthcare change is inevitable, but for independent physicians already facing an uncertain economic forecast in 2025, the prospect of a new administration is sparking even more concern. To help decipher the implications of an ever-evolving regulatory and reimbursement landscape, Medical Economics has teamed up with Terry Bauer, CEO of concierge medicine pioneer Specialdocs Consultants, and Max Reiboldt, Chairman of leading healthcare advisory, Coker, to present an exclusive, informational webinar for physicians on November 20th. Bauer and Reiboldt bring insights gained collectively over more than a century advising physicians on career strategies, to address the headwinds that threaten to topple private medical practices, and explain why concierge medicine offers one of today’s most viable pathways to retaining independence. 

Prominent healthcare industry experts share how physicians can thrive in 2025: join our complimentary webinar on Nov. 20th.

CLICK HERE to register for “2025 Forecast for Physicians: Financial Headwinds, Continued Burnout, and How Concierge Medicine May Be the Cure for What Ails You” at 7 pm CST/8 pm EST on Wednesday, November 20th.

“Now representing just 22% of all practices,1 the independent physician is in danger of disappearing altogether amid unrelenting financial, professional and personal pressures,” says Bauer. “Among other challenges, rising costs to operate a traditional practice and continual cuts to Medicare reimbursements have contributed to an overall 29% downward slide in Medicare compensation over the last two decades.”2

He continues: “Yet we know that a change to our membership medicine model can prove lifesaving, restoring practice sustainability and ushering in a new era of unparalleled career satisfaction. We’ve long championed this solution for physicians in private practice, who have been consistently unappreciated for the very real value they bring to their patients and the health system.” 

Adds Reiboldt: “Physicians in private practice are still a cornerstone of our healthcare system yet are facing challenges that threaten their existence. More and more physicians are affiliating with capital and/or strategic partners, which is not a bad thing but still threatens their independence and private structure.”

A number of crucial issues will be examined during the webinar. “We will approach these with sensitivity as all providers (physicians, health systems, private and public investors, et al) share in both the credit and the blame for our current state of affairs,” says Reiboldt.

Topics will include:

The new administration’s approach to lowering costs, reducing regulatory barriers to consolidation and expanding price transparency mandates for healthcare services.Future use of AI and other technologies to drive greater efficiencies, quality of care.The outlook for primary care providers and programs such as Medicare Advantage, risk-based reimbursement, quality incentives.How upcoming changes in reimbursement and regulations impact the financial viability of traditional practices.Strategies for maintaining or regaining independence as a practitioner; concierge medicine as a model offering sustainable financial security and work-life balance.

About Our Speakers

Terry Bauer is CEO of Specialdocs Consultants. With more than three decades of healthcare leadership experience, Terry has a reputation for bringing about positive change as a strategist, builder, and driver of successful, high-performance companies. Terry’s mission at Specialdocs: to elevate the profile and escalate the growth of this firm that has pioneered the transition from traditional to independent concierge medicine practices, with a focus on expanding the reach and portfolio of high-quality services provided to the company’s growing national network of exceptional physicians. Terry’s career includes a long tenure as co-founder, president, CEO, and director of Orion HealthCorp, a national physician services and management organization. He has served on the board of directors of Specialdocs since Shore Capital Partners invested in the firm in 2015, and became CEO of the company in 2016.

Max Reiboldt, CPA, is Chairman of Coker. His 45 years of work in business and industry, primarily involving healthcare providers, has given him invaluable experience. He handles strategic, tactical, financial, and management issues that health systems, physicians, and other healthcare entities and/or investors face in today’s evolving marketplace. Max understands the nuances of the healthcare industry in a dynamic age, and how healthcare organizations need to maintain viability in a highly competitive market. Whether a transitional provider or a more trailblazing healthcare entity, Max works to provide sound solutions to everyday and long-range challenges with a hands-on approach much valued by his clients. Max oversees Coker’s services as part of the Executive Committee, and maintains his passion for working with clients and organizations of all sizes.

Physician’s Advocacy Institute reportAMA 2024 Medicare Updates

Media Contact:
Mindy Kolof
mkolof@specialdocs.com 
8479213271

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SOURCE Specialdocs Consultants

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Rokid Glasses: Where AI Meets AR, Rivaling Meta’s Ray-Ban in an Exclusive Unveiling at Rokid Jungle 2024

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November 15, 2024

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REDWOOD CITY, Calif., Nov. 14, 2024 /PRNewswire/ — Rokid is poised to unveil its groundbreaking next-generation smart glasses, the Rokid Glasses, at the highly anticipated Rokid Jungle 2024 event, set to take place on 18 November in Hangzhou, China. Seamlessly integrating cutting-edge artificial intelligence with augmented reality, Rokid Glasses represent the pinnacle of innovation. As the most eagerly awaited event in the augmented reality calendar, Rokid Jungle 2024 is destined to be the largest and most consequential gathering of its kind on the global stage. With an impressive turnout expected of over 1,000 distinguished attendees, the event will serve as a landmark occasion, bringing together partners, visionaries, and industry leaders. The launch of the Rokid Glasses promises to elevate the smart daily experience to unprecedented heights, setting new standards in the realm of wearable technology.

Rokid Glasses: Transforming AI and AR into an Essential Daily Gadget for All
Rokid Glasses combine style, comfort, and lightweight design with intuitive, AI-powered features. Integrated with Alibaba’s Tongyi Qianwen AI, Rokid Glasses offer a range of capabilities, including object recognition, text translation, and even solving complex math problems. It can calculate the calorie content of food or provide real-time language translation, making it an indispensable tool for travelers.

Empowered by Zhi Xiaobao, Alibaba’s AI assistant, Rokid Glasses allow users to take full control of their world with simple voice commands, whether booking a ride or ordering a coffee. The advanced voiceprint recognition technology also facilitates secure payments via Alipay, ensuring a seamless and trusted connection to the user’s phone. Alipay’s cutting-edge AI audio detection technology guarantees top-tier security and fraud prevention during transactions.

A standout feature of Rokid Glasses is the ability to view message notifications directly through the glasses, effectively replacing the need for a phone screen. This functionality hints at a future where Rokid Glasses may evolve into a central hub of daily life, potentially replacing smartphones altogether as an essential tech gadget. “We’ve crafted our new glasses to redefine the user experience, bringing the world’s first AI+AR glasses to daily life,” says Misa Zhu, Founder and CEO of Rokid. “Our mission is to make high-quality AI+AR glasses accessible to everyone, and this launch marks a bold step in that direction.” True to Rokid’s ethos of Leave Nobody Behind, the Rokid Glasses bridge gaps in accessibility, usability, and comfort, ensuring that everyone can experience the transformative power of innovation.

Rokid’s Role to Impact Global Tech Arena and Its Commitments for leading AR Industry
Rokid is making significant strides in transforming the museum experience using augmented reality (AR) technology to enhance visitor engagement. By providing immersive, interactive experiences, Rokid brings historical artifacts and exhibitions to life in exciting new ways. With over 2.5 million users benefiting from its AR glasses and more than 300,000 of these users have made actual purchases and are actively engaged with the devices. Even more striking is the fact that Rokid users spend an average of 2 hours and 45 minutes daily with Rokid glasses—this not only underscores the strong appeal of Rokid’s products but also reflects the growing consumer interest in and adoption of augmented reality technology.

Rokid’s ecosystem continues to flourish, with over 6,200 registered developers, highlighting the company’s significant progress in cultivating an open and thriving ecosystem. As the race in augmented reality heats up, major players are competing for dominance in this rapidly evolving space. With AR technology expanding its global footprint, the question remains: who will emerge as the true leader in the AR industry? While the collaboration between Ray-Ban and Meta has brought new energy to the smart glasses market, Meta continues to face challenges. Despite a decade of investment in XR, VR, and AR, Meta has made strides with VR hardware like the Meta Quest but still struggles with slow user adoption and limited AR functionality.

Rokid Jungle 2024: A Decade of Breaking Boundaries in Augmented Reality
Rokid Jungle 2024 commemorates a significant milestone: Rokid’s 10th anniversary and the beginning of the next decade of AR innovation. From its founding in 2014, Rokid has maintained a relentless focus on human-computer interaction, driving the evolution of AR technology through unwavering dedication to innovation. From setting industry standards with the original Rokid Glass to the highly regarded consumer product Rokid Air, and now with the trendsetting AR Studio and AR Lite, Rokid has played a key role in propelling the AR industry forward.

With the launch of the latest Rokid Glasses, the company reaffirms its leadership in the new wave of AR technological innovation. To mark this remarkable milestone, Rokid is delighted to offer a $20 benefit on all purchases made via the official website, using the code ROKID10 at checkout. Looking ahead, Rokid is thrilled to showcase its innovations at CES 2025, where will continue to lead the charge in AR technology. Rokid looks forward to seeing you there and sharing the next chapter of this exciting journey.

Email: pr@rokid.com
Rokid Official Website https://global.rokid.com/

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SOURCE Rokid

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