Connect with us

Technology

Aviat Networks Announces Fiscal 2024 Fourth Quarter and Twelve Months Financial Results

Published

3 hours ago

on

Fourth Quarter Total Revenue of $116.7 million; Up 28.1% Year-Over-Year

Fourth Quarter Adjusted EBITDA of $11.9 million

Cash from Operations of $8.3 million in fourth quarter, $30.5 million for full year

AUSTIN, Texas, Oct. 4, 2024 /PRNewswire/ — Aviat Networks, Inc. (“Aviat Networks,” “Aviat,” or the “Company”), (Nasdaq: AVNW), the leading expert in wireless transport and access solutions, today reported financial results for its fiscal 2024 fourth quarter and twelve months ended June 28, 2024.

Fourth Quarter Highlights

Pasolink acquisition accretive to Adjusted EBITDA and non-GAAP net income in the quarter

Achieved 4th consecutive fiscal year of growth in both revenue and Adjusted EBITDA

Secured statewide win of a new public safety customer, converting customer from legacy incumbent

Fourth Quarter Financial Highlights

Total Revenues: $116.7 million, up 28.1% from the same quarter last year

GAAP Results: Gross Margin 35.3%; Operating Expenses $35.7 million; Operating Income $5.5 million; Net Income $1.5 million; Net Income per diluted share (“Net Income per share”) $0.12

Non-GAAP Results: Adjusted EBITDA $11.9 million; Gross Margin 35.9%; Operating Expenses $31.3 million; Operating Income $10.6 million; Net Income $9.2 million; Net Income per share $0.72

Net cash and cash equivalents: $64.6 million; cash net of debt: $16.3 million

Full Year Financial Highlights

Total Revenues: $408.1 million, up 18.5% from last year

GAAP Results: Gross Margin 35.5%; Operating Expenses $125.3 million; Operating Income $19.4 million; Net Income $10.8 million, Net Income per diluted share $0.86

Non-GAAP Results: Adjusted EBITDA $48.1 million; Gross Margin 36.4%; Operating Expenses $105.4 million; Operating Income $43.1 million; Net Income per diluted share $3.15

Fiscal 2024 Fourth Quarter and Twelve Months Ended June 28, 2024

Revenues
The Company reported total revenues of $116.7 million for its fiscal 2024 fourth quarter, compared to $91.1 million in the fiscal 2023 fourth quarter, an increase of $25.6 million or 28.1%. North America revenue of $56.2 million increased by $1.4 million or 2.5%, compared to $54.8 million in the prior year due to continued execution on private network projects. International revenue of $60.5 million increased by $24.2 million or 66.6%, compared to $36.3 million in the prior year. This growth was due to the addition from the Pasolink acquisition and strong core Aviat revenues in Asia Pacific and Europe regions.

For the twelve months ended June 28, 2024, total revenue increased by 18.5% to $408.1 million, compared to $344.4 million in the same period of fiscal 2023. North America revenue of $206.1 million increased by $5.4 million or 2.7%, compared to $200.7 million in the same period of fiscal 2023. International revenue of $202.0 million increased by $58.3 million or 40.5% as compared to $143.8 million in the same period of fiscal 2023.

Gross Margins
In the fiscal 2024 fourth quarter, the Company reported GAAP gross margin of 35.3% and non-GAAP gross margin of 35.9%. This compares to GAAP gross margin of 35.9% and non-GAAP gross margin of 36.2% in the fiscal 2023 fourth quarter, a change of (60) and (30) basis points, respectively. The fluctuations were driven by project and regional customer mix.

For the twelve months ended June 28, 2024, the Company reported GAAP gross margin of 35.5% and non-GAAP gross margin of 36.4%. This compares to GAAP gross margin of 35.5% and non-GAAP gross margin of 35.8% in the same period of fiscal 2023. GAAP gross margin was flat to the prior year comparison period, and non-GAAP gross margin increased 60 basis points.

Operating Expenses
The Company reported GAAP total operating expenses of $35.7 million for the fiscal 2024 fourth quarter, compared to $26.3 million in the fiscal 2023 fourth quarter, an increase of $9.3 million or 35.5%. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and merger and acquisition expenses for the fiscal 2024 fourth quarter were $31.3 million, compared to $22.0 million in the prior year, an increase of $9.2 million or 41.9%.

For the twelve months ended June 28, 2024, the Company reported total operating expenses of $125.3 million, compared to $97.8 million in the same period of fiscal 2023, an increase of $27.6 million or 28.2%. Non-GAAP total operating expenses, excluding the impact of restructuring charges, share-based compensation, and merger and acquisition expenses for the twelve months ended June 28, 2024 were $105.4 million, as compared to $84.1 million in the same period of fiscal 2023, an increase of $21.3 million or 25.3%.

Operating Income
The Company reported GAAP operating income of $5.5 million for the fiscal 2024 fourth quarter, compared to $6.3 million in the fiscal 2023 fourth quarter, a decrease of $(0.9) million or (13.7)%. On a non-GAAP basis, the Company reported operating income of $10.6 million for the fiscal 2024 fourth quarter, compared to $11.0 million in the prior year, a decrease of $(0.4) million or (3.2)%.

For the twelve months ended June 28, 2024, the Company reported GAAP operating income of $19.4 million, as compared to $24.6 million in the same period of fiscal 2023, a decrease of $(5.2) million or (21.2)%. Operating income decreased primarily due to merger and acquisition related expenses. On a non-GAAP basis, the Company reported operating income of $43.1 million, compared to $39.1 million in the same period of fiscal 2023, an increase of $4.1 million or 10.4%.

Income Taxes
The Company reported GAAP income tax expense of $3.1 million in the fiscal 2024 fourth quarter, compared to $2.0 million in the fiscal 2023 fourth quarter, an increase of $1.1 million or 53.2%.

For the twelve months ended June 28, 2024, the Company reported GAAP income tax expense of $6.1 million compared to $11.1 million in the same period of fiscal 2023, a decrease of $(5.0) million or (44.9)%. The decrease was driven by non-recurrence of a $2.6 million deferred tax liability in the prior year related to legal entity restructuring.

Net Income / Net Income Per Share
The Company reported GAAP net income of $1.5 million in the fiscal 2024 fourth quarter and GAAP net income per share of $0.12. This compared to GAAP net income of $3.8 million or GAAP net income per share of $0.32 in the fiscal 2023 fourth quarter. On a non-GAAP basis, the Company reported net income of $9.2 million or non-GAAP net income per share of $0.72, compared to non-GAAP net income of $10.3 million or $0.87 per share in the prior year.

The Company reported GAAP net income of $10.8 million for the twelve months ended June 28, 2024, or GAAP net income per fully diluted share of $0.86. This compared to GAAP net income of $10.2 million or $0.86 per share in the comparable fiscal 2023 period. On a non-GAAP basis, the Company reported net income of $39.2 million or net income per share of $3.15 for the twelve months ended June 28, 2024, as compared to non-GAAP net income of $37.3 million or $3.15 per share in the comparable fiscal 2023 period.

Adjusted EBITDA
Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”) for the fiscal 2024 fourth quarter was $11.9 million, compared to $12.6 million in the fiscal 2023 fourth quarter.

For the twelve months ended June 28, 2024, the Company reported Adjusted EBITDA of $48.1 million, as compared to $45.2 million in the comparable fiscal 2023 period, an increase of $2.9 million, or 6.4%.

Balance Sheet Highlights
The Company reported $64.6 million in cash and cash equivalents as of June 28, 2024, compared to $58.2 million as of March 29, 2024. As of June 28, 2024, total debt was $48.4 million, a decrease of $0.6 million from March 29, 2024.

Fiscal 2025 Full Year Guidance

The Company established its fiscal 2025 full year revenue and Adjusted EBITDA guidance as follows:

Full year Revenue between $450 and $490 millionFull year Adjusted EBITDA between $46.0 and $52.0 million

As previously disclosed, Aviat has identified certain material weaknesses in its internal control over financial reporting for the 2024 fiscal year. The Company has initiated and will continue to implement measures designed to improve its internal control over financial reporting to remediate these material weaknesses with oversight from the Audit Committee of the Board of Directors and assistance from its external advisors. Please refer to Item 9A in our Annual Report on Form 10-K (the “Form 10-K”) filed with the Securities and Exchange Commission (“SEC”) on October 4, 2024, for more information.

Subsequent to the issuance of the consolidated financial statements and related disclosures for the fiscal year ended June 30, 2023, the Company identified certain errors in its previously issued consolidated financial statements. The Company evaluated the materiality of the errors and determined that the impacts were not material, individually or in the aggregate, to the Company’s previously issued consolidated financial statements for any of the prior reporting periods in which they occurred. The Company has revised the prior period financial statements for fiscal 2024 and fiscal 2023 to correct the errors. The revisions ensure comparability across all periods presented herein. Please refer to Note 16. Revisions to Prior Period Consolidated Financial Statements of the Notes to the consolidated financial statements in our Form 10-K for further information.

Conference Call Details
Aviat Networks will host a conference call at 8:30 a.m. Eastern Time (ET) on October 7, 2024, to discuss its financial and operational results for the fiscal 2024 fourth quarter ended June 28, 2024. Participating on the call will be Peter Smith, President and Chief Executive Officer; Michael Connaway, Sr. Vice President and Chief Financial Officer; and Andrew Fredrickson, Director of Corporate Development and Investor Relations. Following management’s remarks, there will be a question and answer period.

Interested parties may access the conference call live via the webcast through Aviat Network’s Investor Relations website at investors.aviatnetworks.com/events-and-presentations/events, or may participate via telephone by registering using this online form. Once registered, telephone participants will receive the dial-in number along with a unique PIN number that must be used to access the call. A replay of the conference call webcast will be available after the call on the Company’s investor relations website.

About Aviat Networks
Aviat Networks, Inc. is the leading expert in wireless transport and access solutions and works to provide dependable products, services and support to its customers. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high performance products, simplified operations, and the best overall customer experience. Aviat is headquartered in Austin, Texas. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Facebook and LinkedIn.

Forward-Looking Statements
The information contained in this Current Report on Form 8-K includes forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including Aviat’s outlook, business conditions, new product solutions, customer positioning, future orders, bookings, new contracts, cost structure, profitability in fiscal 2025, its recent acquisitions and acquisition strategy, process improvements, measures designed to improve internal controls, plans and objectives of management, realignment plans and review of strategic alternatives and expectations regarding future revenue, gross margin, Adjusted EBITDA, operating income or earnings or loss per share. All statements, trend analyses and other information contained herein regarding the foregoing beliefs and expectations, as well as about the markets for the services and products of Aviat and trends in revenue, and other statements identified by the use of forward-looking terminology, including “anticipate,” “believe,” “plan,” “estimate,” “expect,” “goal,” “will,” “see,” “continue,” “delivering,” “view,” and “intend,” or the negative of these terms or other similar expressions, constitute forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, forward-looking statements are based on estimates reflecting the current beliefs, expectations and assumptions of the senior management of Aviat regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Forward-looking statements should therefore be considered in light of various important factors, including those set forth in this document. Therefore, you should not rely on any of these forward-looking statements.

Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include the following: the disruption the 4RF and NEC transactions may cause to customers, vendors, business partners and our ongoing business; our ability to integrate the operations of the acquired 4RF and NEC businesses with our existing operations and fully realize the expected synergies of the 4RF and NEC transactions on the expected timeline; disruptions relating to the ongoing conflict between Russia and Ukraine and the conflict in Israel and surrounding areas; continued price and margin erosion in the microwave transmission industry; the impact of the volume, timing, and customer, product, and geographic mix of our product orders; our ability to meet financial covenant requirements; the timing of our receipt of payment; our ability to meet product development dates or anticipated cost reductions of products; our suppliers’ inability to perform and deliver on time, component shortages, or other supply chain constraints; the effects of inflation; customer acceptance of new products; the ability of our subcontractors to timely perform; weakness in the global economy affecting customer spending; retention of our key personnel; our ability to manage and maintain key customer relationships; uncertain economic conditions in the telecommunications sector combined with operator and supplier consolidation; our failure to protect our intellectual property rights or defend against intellectual property infringement claims; the results of our restructuring efforts; the effects of currency and interest rate risks; the ability to preserve and use our net operating loss carryforwards; the effects of current and future government regulations; general economic conditions, including uncertainty regarding the timing, pace and extent of an economic recovery in the United States and other countries where we conduct business; the conduct of unethical business practices in developing countries; the impact of political turmoil in countries where we have significant business; our ability to realize the anticipated benefits of any proposed or recent acquisitions; the impact of tariffs, the adoption of trade restrictions affecting our products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; our ability to implement our stock repurchase program or that it will enhance long-term stockholder value; and the impact of adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults or non-performance by financial institutions.

For more information regarding the risks and uncertainties for Aviat’s business, see “Risk Factors” in Aviat’s Form 10-K for the fiscal year ended June 28, 2024 filed with the SEC on October 4, 2024, as well as other reports filed by Aviat with the SEC from time to time. Aviat undertakes no obligation to update publicly any forward-looking statement, whether written or oral, for any reason, except as required by law, even as new information becomes available or other events occur in the future.

Investor Relations:
Andrew Fredrickson
Director, Corporate Development & Investor Relations
Phone: (512) 582-4626
Email: andrew.fredrickson@aviatnet.com

 

Table 1

AVIAT NETWORKS, INC.

Fiscal Year 2024 Fourth Quarter Summary

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three Months Ended

Twelve Months Ended

(In thousands, except per share amounts)

June 28,
2024

June 30,
2023

June 28,
2024

June 30,
2023

Revenues:

Product sales

$               78,795

$               64,093

$             274,205

$             238,579

Services

37,865

27,010

133,878

105,854

Total revenues

116,660

91,103

408,083

344,433

Cost of revenues:

Product sales

50,794

39,363

171,783

150,637

Services

24,727

19,074

91,568

71,414

Total cost of revenues

75,521

58,437

263,351

222,051

Gross margin

41,139

32,666

144,732

122,382

Operating expenses:

Research and development

10,985

6,256

36,426

24,908

Selling and administrative

23,059

19,929

85,038

69,842

Restructuring charges

1,640

157

3,867

3,012

Total operating expenses

35,684

26,342

125,331

97,762

Operating income

5,455

6,324

19,401

24,620

Interest expense, net

916

322

2,337

532

Other (income) expense, net

(70)

234

158

2,774

Income before income taxes

4,609

5,768

16,906

21,314

Provision for income taxes

3,060

1,997

6,146

11,145

Net income

$                 1,549

$                 3,771

$               10,760

$               10,169

Net income per share of common stock outstanding:

Basic

$                   0.12

$                   0.33

$                   0.88

$                   0.90

Diluted

$                   0.12

$                   0.32

$                   0.86

$                   0.86

Weighted-average shares outstanding:

Basic

12,597

11,475

12,182

11,358

Diluted

12,829

11,920

12,456

11,855

 

 

Table 2

AVIAT NETWORKS, INC.

Fiscal Year 2024 Fourth Quarter Summary

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)

June 28,
2024

June 30,
2023

ASSETS

Current Assets:

Cash and cash equivalents

$                    64,622

$                    22,242

Accounts receivable, net

158,013

100,911

Unbilled receivables

90,525

57,170

Inventories

62,267

33,428

Assets held for sale

2,720

—

Other current assets

27,076

22,164

Total current assets

405,223

235,915

Property, plant and equipment, net

9,480

9,452

Goodwill

8,217

5,112

Intangible assets, net

13,644

9,046

Deferred income taxes

83,112

87,080

Right of use assets

3,710

2,554

Other assets

11,837

13,978

Total long-term assets

130,000

127,222

Total assets

$                  535,223

$                  363,137

LIABILITIES AND EQUITY

Current Liabilities:

Accounts payable

$                    92,854

$                    60,141

Accrued expenses

42,148

24,442

Short-term lease liabilities

1,006

610

Advance payments and unearned revenue

58,839

44,268

Other current liabilities

21,614

600

Current portion of long-term debt

2,396

—

Total current liabilities

218,857

130,061

Long-term debt

45,954

—

Unearned revenue

7,413

7,416

Long-term lease liabilities

2,823

2,140

Other long-term liabilities

394

314

Reserve for uncertain tax positions

3,485

3,975

Deferred income taxes

412

492

Total liabilities

279,338

144,398

Commitments and contingencies

Stockholder’s equity:

Preferred stock

—

—

Common stock

126

115

Treasury stock

(6,479)

(6,147)

Additional paid-in-capital

860,071

830,048

Accumulated deficit

(578,513)

(589,273)

Accumulated other comprehensive loss

(19,320)

(16,004)

Total stockholders’ equity

255,885

218,739

Total liabilities and stockholders’ equity

$                  535,223

$                  363,137

 

AVIAT NETWORKS, INC.

Fiscal Year 2024 Fourth Quarter Summary

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES AND REGULATION G DISCLOSURE

To supplement the consolidated financial statements presented in accordance with accounting principles generally accepted in the United States (GAAP), we provide additional measures of gross margin, research and development expenses, selling and administrative expenses, operating income, provision for or benefit from income taxes, net income, net income per share, and adjusted income before interest, tax, depreciation and amortization (Adjusted EBITDA), in each case, adjusted to exclude certain costs, charges, gains and losses, as set forth below. We believe that these non-GAAP financial measures, when considered together with the GAAP financial measures provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionate positive or negative impact on results in any particular period. We also believe these non-GAAP measures enhance the ability of investors to analyze trends in our business and to understand our performance. In addition, we may utilize non-GAAP financial measures as a guide in our forecasting, budgeting and long-term planning process and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Reconciliations of these non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP follow.

1We have not reconciled Adjusted EBITDA guidance to its corresponding GAAP measure due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to merger and acquisition costs and share-based compensation. In particular, share-based compensation expense is affected by future hiring, turnover, and retention needs, as well as the future fair market value of our common stock, all of which are difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted EBITDA are not available without unreasonable effort.

 

Table 3

AVIAT NETWORKS, INC.

Fiscal Year 2024 Fourth Quarter Summary

RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (1)

Condensed Consolidated Statements of Operations

(Unaudited)

Three Months Ended

Twelve Months Ended

June 28,
2024

% of

Revenue

June 30,
2023

% of

Revenue

June 28,
2024

% of

Revenue

June 30,
2023

% of

Revenue

(In thousands, except percentages and per share amounts)

GAAP gross margin

$       41,139

35.3 %

$       32,666

35.9 %

$     144,732

35.5 %

$     122,382

35.5 %

Share-based compensation

96

164

406

627

Merger and acquisition related expense

650

174

3,409

180

Non-GAAP gross margin

41,885

35.9 %

33,004

36.2 %

148,547

36.4 %

123,189

35.8 %

GAAP research and development expenses

$       10,985

9.4 %

$         6,256

6.9 %

$       36,426

8.9 %

$       24,908

7.2 %

Share-based compensation

(141)

(129)

(593)

(514)

Non-GAAP research and development expenses

10,844

9.3 %

6,127

6.7 %

35,833

8.8 %

24,394

7.1 %

GAAP selling and administrative expenses

$       23,059

19.8 %

$       19,929

21.9 %

$       85,038

20.8 %

$       69,842

20.3 %

Share-based compensation

(1,559)

(1,292)

(6,342)

(5,579)

Merger and acquisition related expense

(1,070)

(2,727)

(9,121)

(4,526)

Non-GAAP selling and administrative expenses

20,430

17.5 %

15,910

17.5 %

69,575

17.0 %

59,737

17.3 %

GAAP operating income

$         5,455

4.7 %

$         6,324

6.9 %

$       19,401

4.8 %

$       24,620

7.1 %

Share-based compensation

1,796

1,585

7,341

6,720

Merger and acquisition related expense

1,720

2,901

12,530

4,706

Restructuring charges

1,640

157

3,867

3,012

Non-GAAP operating income

10,611

9.1 %

10,967

12.0 %

43,139

10.6 %

39,058

11.3 %

GAAP income tax provision

$         3,060

2.6 %

$         1,997

2.2 %

$         6,146

1.5 %

$       11,145

3.2 %

Adjustment to reflect pro forma tax rate

(2,560)

(1,697)

(4,546)

(9,945)

Non-GAAP income tax provision

500

0.4 %

300

0.3 %

1,600

0.4 %

1,200

0.3 %

GAAP net income

$         1,549

1.3 %

$         3,771

4.1 %

$       10,760

2.6 %

$       10,169

3.0 %

Share-based compensation

1,796

1,585

7,341

6,720

Merger and acquisition related expense

1,720

2,901

12,530

4,706

Restructuring charges

1,640

157

3,867

3,012

Other (income) expense, net

(70)

234

158

2,774

Adjustment to reflect pro forma tax rate

2,560

1,697

4,546

9,945

Non-GAAP net income

$         9,195

7.9 %

$       10,345

11.4 %

$       39,202

9.6 %

$       37,326

10.8 %

Diluted net income per share:

GAAP

$           0.12

$           0.32

$           0.86

$           0.86

Non-GAAP

$           0.72

$           0.87

$           3.15

$           3.15

Shares used in computing net income per share

GAAP

12,829

11,920

12,456

11,855

Non-GAAP

12,829

11,920

12,456

11,855

Adjusted EBITDA:

GAAP net income

$         1,549

1.3 %

$         3,771

4.1 %

$       10,760

2.6 %

$       10,169

3.0 %

Depreciation and amortization of property, plant and equipment and intangible assets

1,265

1,615

4,993

6,180

Interest expense, net

916

322

2,337

532

Other (income) expense, net

(70)

234

158

2,774

Share-based compensation

1,796

1,585

7,341

6,720

Merger and acquisition related expense

1,720

2,901

12,530

4,706

Restructuring charges

1,640

157

3,867

3,012

Provision for income taxes

3,060

1,997

6,146

11,145

Adjusted EBITDA

$       11,876

10.2 %

$       12,582

13.8 %

$       48,132

11.8 %

$       45,238

13.1 %

1

The adjustments above reconcile our GAAP financial results to the non-GAAP financial measures used by us. Our non-GAAP net income excluded share-based compensation, and other non-recurring charges (recovery). Adjusted EBITDA was determined by excluding depreciation and amortization on property, plant and equipment, interest, provision for or benefit from income taxes, and non-GAAP pre-tax adjustments, as set forth above, from GAAP net income. We believe that the presentation of these non-GAAP items provides meaningful supplemental information to investors, when viewed in conjunction with, and not in lieu of, our GAAP results. However, the non-GAAP financial measures have not been prepared under a comprehensive set of accounting rules or principles. Non-GAAP information should not be considered in isolation from, or as a substitute for, information prepared in accordance with GAAP. Moreover, there are material limitations associated with the use of non-GAAP financial measures.

 

Table 4 

AVIAT NETWORKS, INC.  

Fiscal Year 2024 Fourth Quarter Summary  

SUPPLEMENTAL SCHEDULE OF REVENUE BY GEOGRAPHICAL AREA  

(Unaudited)  

Three Months Ended

Twelve Months Ended

June 28,
2024

June 30,
2023

June 28,
2024

June 30,
2023

(In thousands)

North America

$                    56,194

$                    54,814

$                  206,073

$         200,678

International:

Africa and the Middle East

13,063

16,307

48,884

59,674

Europe

7,231

5,067

24,608

18,772

Latin America and Asia Pacific

40,172

14,915

128,518

65,309

Total international

60,466

36,289

202,010

143,755

Total revenue

$                  116,660

$                    91,103

$                  408,083

$         344,433

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/aviat-networks-announces-fiscal-2024-fourth-quarter-and-twelve-months-financial-results-302267954.html

SOURCE Aviat Networks, Inc.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Saudi Arabia IT Market to Grow by USD 5.15 Billion (2024-2028), with AI-Driven Insights on National Transformation Program Boosting Revenue – Technavio

Published

52 mins ago

on

October 4, 2024

By

NEW YORK, Oct. 4, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The IT Market in Saudi Arabia  size is estimated to grow by USD 5.15 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.78%  during the forecast period. Launch of national transformation program is driving market growth, with a trend towards increasing adoption of e-governance. However, increasing threat of cyber crimes  poses a challenge – Key market players include Accenture Plc, Al Moammar Information Systems Co., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Comprehensive Technology Co., DataFlow Group, Easy World Automation LLC, Ejada Systems Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., IQVIA Holdings Inc., Microsoft Corp., NEC Corp., Oracle Corp., SAP SE, and SAS Institute Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Hardware, Services, and Software), End-user (Government, Telecommunication, BFSI, Oil and gas, and Others), and Geography (Middle East and Africa)

Region Covered

Saudi Arabia

Key companies profiled

Accenture Plc, Al Moammar Information Systems Co., Alphabet Inc., Amazon.com Inc., AT and T Inc., Cisco Systems Inc., Cognizant Technology Solutions Corp., Comprehensive Technology Co., DataFlow Group, Easy World Automation LLC, Ejada Systems Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., IQVIA Holdings Inc., Microsoft Corp., NEC Corp., Oracle Corp., SAP SE, and SAS Institute Inc.

Key Market Trends Fueling Growth

The Saudi Arabian IT market is experiencing significant growth due to the government’s focus on digital transformation through the Vision 2030 program. In the 2020 UN E-Government Development Index, Saudi Arabia ranked 9th, reflecting progress in online services. The government offers various e-services, including employment programs, e-learning, online job searches, passports and civic affairs, traffic updates, commercial register issuance, and payment services. The Vision 2030 program aims to expand online services, introducing geographic information systems (GIS), healthcare, and education. The Saudi Arabian government is strengthening online services within the public sector, promoting cloud applications, data-sharing platforms, and HR management systems. Additionally, the increased use of cloud computing in various sectors is anticipated to fuel market growth during the forecast period.

In Saudi Arabia’s IT market, high-speed internet and smartphone penetration are on the rise. With the rollout of 5G networks, wireless connections are becoming faster and more reliable. Digital innovation is transforming industries such as Pharmacy and Healthcare with IoT technology. Industry 4.0 is gaining traction in sectors like Construction and Consumer Goods. Businesses are embracing digital-savvy solutions like Client Computing, Consulting, Integration Services, Data and Analytics, Edge Computing, IT Management, Mobility, Networking, Security, Servers, Storage, Communication, and Telecommunication. Oil and gas companies are leveraging data processing for real-time communication and e-governance. Hardware and Software providers are meeting the demands of businesses and consumers. The IT sector is also focusing on cybersecurity to protect against data theft. Overall, the IT market in Saudi Arabia is thriving with trends like AI, 5G, and cloud computing shaping the future.

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

In Saudi Arabia, businesses are experiencing a significant rise in the implementation of advanced technologies due to globalization, privatization, and technological advancements. This digital transformation includes the adoption of cloud services and infrastructure, such as public clouds. However, this shift brings new risks, particularly cyberattacks. The COVID-19 pandemic has led to an increase in remote workforces and the use of mobile phones and IoT devices, making enterprises more vulnerable. First-time adopters of cloud services rely on providers’ security infrastructure, increasing their risk. Data breaches can negatively impact companies’ performance and result in financial losses for their customers. Cybercriminals can gain instant access to sensitive information, leading to potential financial damage. To mitigate these risks, companies and government entities must invest in security technologies. Additionally, predictive threat intelligence and analysis platforms can offer advance warnings of fraudulent activities or anomalous transactions, slowing down market growth during the forecast period.In Saudi Arabia’s IT market, businesses face several challenges in the digital age. High-speed internet is essential for fast data processing and real-time communication, but penetration remains low in some areas. The rise of smartphones and 5G networks necessitates wireless connections for industries like Pharmacy and Healthcare, as well as Construction and Consumer Goods. Digital innovation demands integration of IoT and Industry 4.0, but also brings risks such as data theft. Businesses need consulting, integration services, and IT management to navigate these changes. Data and analytics, edge computing, and cybersecurity are key areas of focus. Telecommunication companies are investing in 5G networks and AI for client computing and communication. Oil and gas, e-governance, and telecommunications sectors are adopting cloud computing and data centers for efficient data processing. Security remains a top priority for all businesses, especially in the era of cyber threats.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This it market in Saudi Arabia report extensively covers market segmentation by

Component 1.1 Hardware1.2 Services1.3 SoftwareEnd-user 2.1 Government2.2 Telecommunication2.3 BFSI2.4 Oil and gas2.5 OthersGeography 3.1 Middle East and Africa

1.1 Hardware-  The IT market in Saudi Arabia is thriving, with numerous businesses adopting digital solutions to enhance their operations. The kingdom’s Vision 2030 initiative prioritizes digital transformation, creating ample opportunities for IT companies. The market size is expected to grow significantly due to increasing demand for cloud services, cybersecurity, and artificial intelligence. Saudi Arabian Monetary Authority’s (SAMA) Fintech Program further boosts the sector, attracting international players. Businesses and government entities invest in IT infrastructure upgrades, ensuring and expanding IT market.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

The IT market in Saudi Arabia is thriving, driven by the growing demand for advanced technology solutions in various sectors. Hardware and computers are popular, with a focus on high-performance systems for businesses and fast, efficient devices for consumers. Software, including productivity suites and specialized applications, is in high demand, particularly in industries like healthcare and finance. The internet and mobile phones are essential for connectivity, with a push for fast internet and wireless connections. Telecommunications companies are expanding their networks, while data centers and cloud computing provide businesses with secure, reliable storage and processing solutions. Real-time communication and collaboration tools are crucial for remote work and virtual meetings. Cybersecurity is a major concern, with a growing focus on protecting sensitive data from theft. Industry 4.0 and the Internet of Things (IoT) are transforming industries, while 5G networks promise faster speeds and lower latency. Artificial Intelligence (AI) and edge computing are also gaining traction, offering new possibilities for data processing and analysis. Consulting and integration services help businesses navigate the complex IT landscape and make the most of these technologies. Data and analytics are essential for informed decision-making and improving operational efficiency. Servers and serversless computing provide the foundation for these solutions, ensuring seamless performance and scalability.

Market Research Overview

The IT market in Saudi Arabia is witnessing significant growth, driven by the demand for advanced technology solutions in various sectors. Hardware and software are key components of this market, with a focus on high-performance computers, mobile phones, and telecommunication infrastructure. The oil and gas industry is a major consumer of IT services, with a growing need for real-time communication, data processing, and cybersecurity. E-Governance is another significant area, with the Saudi Arabian government investing heavily in digital innovation to improve efficiency and citizen services. The healthcare and pharmacy sectors are also adopting digital technologies, including telemedicine, electronic health records, and IoT devices. The construction industry is embracing Industry 4.0 technologies, while consumer goods companies are leveraging mobility, data analytics, and edge computing for supply chain optimization. With the rollout of 5G networks, the market for high-speed internet, wireless connections, and cloud computing is expected to grow rapidly. Cybersecurity remains a top priority, as data theft and digital threats continue to pose challenges for businesses and individuals alike. AI and IT management services are also gaining popularity, as organizations seek to optimize their operations and enhance customer experiences.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareServicesSoftwareEnd-userGovernmentTelecommunicationBFSIOil And GasOthersGeographyMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/saudi-arabia-it-market-to-grow-by-usd-5-15-billion-2024-2028-with-ai-driven-insights-on-national-transformation-program-boosting-revenue—technavio-302267033.html

SOURCE Technavio

Continue Reading

Technology

Graphics Processing Unit (GPU) Market to Grow by USD 388.3 Billion (2024-2028), with AI-Driven Insights on Rising Demand for Advanced Gaming and VR – Technavio

Published

52 mins ago

on

October 4, 2024

By

NEW YORK, Oct. 4, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global Graphics Processing Unit (GPU) market size is estimated to grow by USD 388.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 50.22% during the forecast period.Increase in demand for advanced gaming and VR experiences is driving market growth, with a trend towards rise in demand for high-performance computing (HPC). However, issues with graphics processing unit upgrading in notebooks poses a challenge – Key market players include Advanced Micro Devices Inc., Alphabet Inc., Apple Inc., Arm Ltd., ASUSTeK Computer Inc., Broadcom Inc., Fujitsu Ltd., Galaxy Microsystems Ltd., Gigabyte Technology Co. Ltd., Imagination Technologies Ltd., Intel Corp., International Business Machines Corp., NVIDIA Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., SAPPHIRE Technology Ltd., Sony Group Corp., Taiwan Semiconductor Manufacturing Co. Ltd., Zebra Technologies Corp., and Zotac Technology Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

Type (Integrated GPUs and Discrete GPUs), Application (Computers, Tablets and smartphones, Television, and Gaming consoles), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., Apple Inc., Arm Ltd., ASUSTeK Computer Inc., Broadcom Inc., Fujitsu Ltd., Galaxy Microsystems Ltd., Gigabyte Technology Co. Ltd., Imagination Technologies Ltd., Intel Corp., International Business Machines Corp., NVIDIA Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., SAPPHIRE Technology Ltd., Sony Group Corp., Taiwan Semiconductor Manufacturing Co. Ltd., Zebra Technologies Corp., and Zotac Technology Ltd.

 

Key Market Trends Fueling Growth

The global Graphics Processing Unit (GPU) market is experiencing a notable growth in demand for High Performance Computing (HPC) applications. This trend can be attributed to several factors, including the expanding need for advanced graphics capabilities in industries such as gaming, Virtual Reality (VR), and animation. The increasing intricacy of video games and the escalating popularity of VR experiences necessitate graphics processing units that can deliver high-resolution graphics and seamless performance. In response, manufacturers have developed specialized graphics processing units for HPC, empowering game developers and content creators to elevate visual quality and realism. Another significant driver of this trend is the burgeoning adoption of Artificial Intelligence (AI) and Machine Learning (ML) applications. AI and ML algorithms necessitate substantial computational power for tasks like image and speech recognition, natural language processing, and data analysis. Graphics processing units, with their parallel processing capabilities, are a preferred choice for AI and ML developers. Moreover, industries such as finance, scientific research, and healthcare are increasingly relying on HPC using graphics processing units. In finance, graphics processing units are employed for intricate calculations and simulations in areas like risk analysis, portfolio optimization, and algorithmic trading. In scientific research, they are utilized for data-intensive calculations in fields like genomics, climate modeling, and particle physics. In healthcare, graphics processing units are leveraged for medical imaging, drug discovery, and personalized medicine applications. The escalating demand for HPC in the GPU market is also fueled by advancements in cloud computing and the proliferation of data centers. As businesses shift their workloads to the cloud, there is a requirement for graphics processing units in data centers to manage tasks like rendering, video transcoding, and real-time analytics. Consequently, cloud-based GPU services have emerged, enabling organizations to access high-performance computing resources on demand. These factors are anticipated to amplify the demand for graphics processing units, driving the growth of the market during the forecast period. 

The GPU market is thriving in the digital world, driven by trends in graphics, video rendering, and gaming platforms. According to a recent PwC report, global spending in the gaming industry is projected to reach USD159.3 billion by 2023. GPUs play a crucial role in delivering visuals and fluid gameplay in video games, 3D designs, and virtual reality (VR) and augmented reality (AR) applications. In the mainstream business sector, GPUs are used for AI applications like fraud detection, conversational AI solutions, and cryptocurrency mining. The rapid evolution of AI, machine learning, and computing technologies is increasing the demand for GPUs in areas like design, development, optimization, and data processing. However, ethical concerns around user data, GDPR, and biased algorithms are creating regulatory scrutiny. Skilled engineers, developers, data scientists, AI researchers, and machine learning experts are in high demand to address these challenges and optimize the use of GPUs in this complex technology landscape. The market for GPUs is expected to continue growing as the technology becomes more integrated into our daily lives through wearable technologies, computing technologies, and other emerging applications. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The global graphics processing unit (GPU) market in notebooks is facing a persistent challenge with the limitation of GPU upgrades. This issue is a concern for both manufacturers and consumers due to the compact design of notebooks. Notebooks prioritize portability and compactness, leading to thermal and space constraints, making it challenging to accommodate upgrades. In contrast, desktop computers offer more room for expansion and can easily accommodate larger, more powerful GPUs. Another reason for this issue is the proprietary nature of notebook designs. Many manufacturers restrict users from upgrading key components, including GPUs, creating a dependency on the manufacturer for future upgrades. The lack of standardized GPU form factors for notebooks further complicates matters. Unlike desktop GPUs, which follow standard form factors like PCI Express, notebook GPUs come in various shapes and sizes, making it difficult for consumers to find compatible upgrades for their specific notebook models. This issue becomes more significant as the demand for high-performance gaming and professional-grade graphics applications increases. With technology advancing at a rapid pace, users find themselves unable to fully utilize new features and enhancements due to outdated GPU capabilities. These factors are expected to hinder the growth of the GPU market for notebooks during the forecast period.The GPU market is experiencing significant growth due to increasing demand from gaming and data center industries. Gaming applications, online gaming, and e-gaming are major drivers, with compatibility and multiple device support being key challenges. Location independence and low-cost high-quality experience are crucial for organizations in the on-premises deployment mode. Data procurement, storage, and machine-learning applications in sectors like AI and online learning/entertainment also fuel demand. Gaming companies like Steam and DirectX 12 GPU manufacturers such as AMD and NVIDIA’s RTX gaming servers are leading the charge. New entrants like Fenghua GPU and SenseTime, using GPUs in Exynos SoCs and P5 instances, are also making waves. The HPC sector’s demand for GPUs in AI and machine learning is also noteworthy. Despite these opportunities, compatibility across platforms and devices remains a challenge. Overall, the GPU market’s future looks bright, with continued innovation and advancements in frame buffer technology.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This graphics processing unit (gpu) market report extensively covers market segmentation by

Type 1.1 Integrated GPUs1.2 Discrete GPUsApplication 2.1 Computers2.2 Tablets and smartphones2.3 Television2.4 Gaming consolesGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Integrated GPUs- The Global GPU Market experienced steady growth in 2020, driven by increasing demand for advanced graphics in gaming, virtual reality, and artificial intelligence applications. Major players like NVIDIA, AMD, and Intel dominated the market, offering high-performance GPUs for various industries. The market is expected to continue expanding due to rising adoption in data centers and automotive sectors. Companies invest in research and development to improve energy efficiency and enhance computing capabilities.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 – 2021) 

Research Analysis

The GPU market is experiencing significant growth due to the increasing demand for artificial intelligence (AI) and machine learning (ML) applications. GPUs, or Graphics Processing Units, are specialized processors designed for handling complex mathematical calculations, making them ideal for AI and ML development. The adoption of GPUs in AI-powered solutions is driving innovation in various industries, including gaming, graphics, virtual reality (VR), healthcare, manufacturing, real estate, and data centers. In the gaming industry, the latest RTX gaming servers and DirectX 12 GPUs offer enhanced graphics processing capabilities for gaming experiences. For creative technologies, GPUs are essential for rendering high-definition 3D content and optimizing design workflows. In the field of HPC (High Performance Computing), GPUs are used for scientific simulations and big data analytics. Cloud-based analytics applications and AI-powered solutions are also driving the demand for GPU as a Service (GPUaaS), enabling businesses to access powerful GPU resources on-demand. The use of GPUs in VR, healthcare, and real estate industries is also on the rise, as they offer faster processing times and improved accuracy for complex mathematical calculations. Overall, the GPU market is poised for continued growth as more industries discover the benefits of these powerful processing units.

Market Research Overview

The Graphics Processing Unit (GPU) market is experiencing rapid growth due to the increasing demand for AI, RTX gaming servers, GPUaaS, HPC, and other advanced technologies. GPUs, as electronic processors specialized in graphics and video rendering, play a crucial role in the digital world, powering video games, 3D designs, virtual reality (VR), and augmented reality (AR) on gaming platforms and wearable technologies. The global spending on the gaming industry is projected to reach new heights, with mainstream businesses adopting GPUs for various applications, including fraud detection, conversational AI solutions, and visuals. The emergence of AI, machine learning, and big data technology is driving the industry expansion, with GPUs providing the computational power needed for complex mathematical calculations and analyzing large databases. The use of GPUs in AI applications, such as image recognition and interference times, is also leading to design and development optimizations. However, the use of GPUs in AI and other emerging technologies raises ethical concerns, including GDPR, user data, and biased algorithms. Regulatory scrutiny is increasing, and skilled engineers and developers are in high demand to address these challenges and ensure the responsible use of this rapidly evolving technology. Meanwhile, GPUs continue to be a key component in the digital world, from PC games and mobile titles to specialized processors and display enhancements. Companies like Imagination Technology and its GPU IP and API system are leading the way in this field, while the adoption of GPUs in industries such as healthcare, manufacturing, and supply chain is set to accelerate. In summary, the GPU market is a dynamic and complex technology landscape, driven by the demands of AI, gaming, HPC, and other emerging applications. The role of GPUs in powering the digital world and enabling new innovations is undeniable, but the challenges of ethical use and regulatory compliance must also be addressed to ensure a sustainable and responsible future for this rapidly evolving technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeIntegrated GPUsDiscrete GPUsApplicationComputersTablets And SmartphonesTelevisionGaming ConsolesGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/graphics-processing-unit-gpu-market-to-grow-by-usd-388-3-billion-2024-2028-with-ai-driven-insights-on-rising-demand-for-advanced-gaming-and-vr—technavio-302267044.html

SOURCE Technavio

Continue Reading

Technology

Verbal launches AI-powered QA, training, and documentation tools for Zoom virtual care visits

Published

52 mins ago

on

October 4, 2024

By

Introduction to Verbal’s AI Tool Suite

SAN FRANCISCO, Oct. 4, 2024 /PRNewswire/ — Launch brings Verbal’s AI tools to the nation’s most popular telehealth platform. Verbal, a leading voice in AI-enhanced virtual care operations, today announced the launch of Verbal’s AI tool suite in the Zoom app marketplace.

Seamless Integration with Zoom for Telehealth Providers

Verbal’s integration with Zoom allows virtual care providers to automatically capture and analyze call audio via their Zoom app, with no need for complex integrations with communication providers.

Enhancing Patient Care and Operational Efficiency with AI

Zoom Workplace is widely considered the most popular platform for telehealth encounters in the U.S., so this launch opens the door for providers large and small to take advantage of Verbal’s AI-powered clinical documentation and real-time quality assurance (QA) and training tools.

The Verbal AI app helps providers save time and energy, enhance patient experiences, and drive revenue as part of value-based care.

Enhancing care quality and clinical operations with Verbal

The integration of the Verbal bot with Zoom virtual visits is a response to the needs of healthcare professionals for efficient and effective virtual care delivery.

Key benefits of the Verbal AI app in Zoom Workplace:

Save provider time and energy: Verbal AI automatically generates clinical documentation including SOAP, SBAR, therapy progress notes, and more, with notes and summaries tailored to an organization’s compliance requirements and best practices. Studies have found physicians spend nearly 50 percent of their time on dull, repetitive admin tasks like clinical notes, so generative AI tools like Verbal can have a major impact on provider capacity and job satisfaction.

Improve patient experience: Along with enabling providers to focus on patients instead of note-taking, Verbal offers providers real-time guidance, reminders, and feedback tailored to each organization’s best practices, and website manner standards, helping to foster better patient engagement and trust. Verbal also offers automated QA based on an organization’s best practices.

Drive revenue and lower costs: By streamlining administrative tasks, Verbal allows healthcare providers to see more patients. Meanwhile, Verbal’s real-time QA and training tools ensure the consistently high-quality care key to success in value-based care models, where patient satisfaction and care quality are directly tied to revenue.

Practical solutions for virtual care

The addition of the Verbal bot to the Zoom app marketplace offers a practical solution for healthcare providers looking to optimize virtual care delivery, with no need for complex integrations.

Waleed Mohsen, CEO, on the Partnership with Zoom

“Partnering with Zoom brings Verbal’s AI capabilities to more healthcare providers, enabling them to focus on what matters most—delivering quality care to patients,” said Waleed Mohsen, CEO of Verbal. “We are thrilled to see how this integration will streamline workflows, improve patient experiences, and help providers thrive in value-based care models.”

Learn more about the Verbal AI suite at the Zoom app marketplace

Media Contact: hello@tryverbal.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/verbal-launches-ai-powered-qa-training-and-documentation-tools-for-zoom-virtual-care-visits-302268059.html

SOURCE Verbal

Continue Reading

Trending