Connect with us

Technology

Enghouse Releases Second Quarter Results

Published

3 months ago

on

MARKHAM, ON, June 10, 2024 /CNW/ – Enghouse Systems Limited (TSX: ENGH) announces second quarter (unaudited) financial results for the period ended April 30, 2024. All figures are denominated in Canadian dollars unless otherwise indicated.

Highlights for the Second Quarter ended April 30, 2024 compared to the same quarter in the prior year:

Revenue increased 10.9% to $125.8 million.Recurring revenue, which includes SaaS and maintenance services, grew 18.6% to $85.0 million, and represents 67.5% of total revenue.Operating profits increased 30.5% to $33.5 million, while achieving a 28.4% EBITDA margin.

Financial results for the three and six months ended April 30, 2024, compared to the three and six months ended April 30, 2023, are as follows:

Revenue increased to $125.8 and $246.3 million, respectively, compared to revenue of $113.5 and $219.9 million;Results from operating activities was $33.5 and $66.1 million, respectively, compared to $25.6 and $55.5 million;Net income was $20.0 and $38.1 million, respectively, compared to $12.5 and $29.6 million;Adjusted EBITDA was $35.7 and $70.4 million, respectively, compared to $30.2 and $62.5 million;Cash flow from operating activities, excluding changes in working capital, was $38.6 and $74.2 million, respectively, compared to $28.9 and $61.5 million resulting in record cash and cash equivalents of $263.8 million.

Our strong performance this quarter is demonstrated by double-digit growth in revenue, profitability and operating cash flows. Our proficiency in executing and integrating acquisitions continues to be a crucial profit growth driver. This quarter we completed the acquisition of Mediasite, which expanded our video technology into the education and event market and increased our presence in Japan.

Our business model continues to prioritize operational discipline as the demand for SaaS increases. Operational expenditures have shown improvement when compared to revenue both for the quarter and period to date, despite inflationary pressures and integrating acquisitions. Continued discipline in our business activities has increased our cash and cash equivalents to the record level of $263.8 million, with no external debt, while increasing our dividend, repurchasing shares, and completing and integrating the Mediasite acquisition in the quarter.

Subsequent to quarter-end on May 9, 2024, Enghouse completed its acquisition of substantially all of the assets of SeaChange International, Inc. (“SeaChange”) related to its IPTV products and services business, for a net purchase price of approximately US$23 million. This acquisition increases the scale of our IPTV business, augments our product offering and furthers our expansion into the European market. SeaChange will be integrated within the Asset Management Group from the date of acquisition.

Quarterly dividends:          

Today, the Board of Directors approved the Company’s eligible quarterly dividend of $0.26 per common share payable on August 30, 2024 to shareholders of record at the close of business on August 16, 2024.

Enghouse Systems Limited

Financial Highlights
(unaudited, in thousands of Canadian dollars)

 

For the period ended April 30

Three months

Six months

2024

2023

Var ($)

Var (%)

2024

2023

Var ($)

Var (%)

Revenue

$

125,813

$

113,461

12,352

10.9

$

246,302

$

219,896

26,406

12.0

Direct costs

43,201

38,106

5,095

13.4

84,783

72,914

11,869

16.3

Revenue, net of direct costs

$

82,612

$

75,355

7,257

9.6

$

161,519

$

146,982

14,537

9.9

As a % of revenue

65.7 %

66.4 %

65.6 %

66.8 %

Operating expenses

49,031

47,712

1,319

2.8

95,211

89,422

5,789

6.5

Special charges

106

2,001

(1,895)

(94.7)

197

2,029

(1,832)

(90.3)

Results from operating activities

$

33,475

$

25,642

7,833

30.5

$

66,111

$

55,531

10,580

19.1

As a % of revenue

26.6 %

22.6 %

26.8 %

25.3 %

Amortization of acquired software and
customer relationships

(11,146)

(9,838)

(1,308)

(13.3)

(21,520)

(18,670)

(2,850)

(15.3)

Foreign exchange losses

(86)

(790)

704

89.1

(1,803)

(1,843)

40

2.2

Interest expense – lease obligations

(148)

(192)

44

22.9

(298)

(359)

61

17.0

Finance income

2,602

1,006

1,596

158.6

4,963

1,982

2,981

150.4

Finance expenses

(12)

(124)

112

90.3

(12)

(131)

119

90.8

Other income (expenses)

220

( 528)

748

141.7

106

(655)

761

116.2

Income before income taxes

$

24,905

$

15,176

9,729

64.1

$

47,547

$

35,855

11,692

32.6

Provision for income taxes

4,931

2,640

2,291

86.8

9,440

6,296

3,144

49.9

Net Income for the period

$

19,974

$

12,536

7,438

59.3

$

38,107

$

29,559

8,548

28.9

Basic earnings per share

0.36

0.23

0.13

56.5

0.69

0.53

0.16

30.2

Diluted earnings per share

0.36

0.23

0.13

56.5

0.69

0.53

0.16

30.2

Operating cash flows

40,256

18,698

21,558

115.3

60,155

47,960

12,195

25.4

Operating cash flows excluding changes
   in working capital

38,613

28,875

9,738

33.7

74,170

61,507

12,663

20.6

Adjusted EBITDA

Results from operating activities

33,475

25,642

7,833

30.5

66,111

55,531

10,580

19.1

Depreciation

551

613

(62)

10.1

1,045

1,239

(194)

15.7

Depreciation of right-of-use assets

1,570

1,931

(361)

18.7

3,076

3,667

(591)

16.1

Special charges

106

2,001

(1,895)

94.7

197

2,029

(1,832)

90.3

Adjusted EBITDA

$

35,702

$

30,187

5,515

18.3

$

70,429

$

62,466

7,963

12.7

Adjusted EBITDA margin

28.4 %

26.6 %

28.6 %

28.4 %

Adjusted EBITDA per diluted share

$

0.64

$

0.54

0.10

18.5

$

1.27

$

1.13

0.14

12.4

 

Condensed Consolidated Interim Statements of Financial Position

(in thousands of Canadian dollars)

(unaudited)

   As at April 30,
2024

As at October 31,
2023

ASSETS

Current assets:

   Cash and cash equivalents

$

262,918

$

239,532

   Short-term investments

854

827

   Accounts receivable

110,965

93,383

   Prepaid expenses and other assets

17,369

15,515

   Income taxes recoverable

–

114

392,106

349,371

Non-current assets:

   Property and equipment

3,328

3,273

   Right-of-use assets

9,966

12,242

   Intangible assets

98,253

109,659

   Goodwill

292,990

280,241

   Deferred income tax assets

25,422

28,884

429,959

434,299

$

822,065

$

783,670

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

   Accounts payable and accrued liabilities

$

70,229

$

67,769

   Income tax payable

1,500

–

   Dividends payable

14,398

12,156

   Provisions

1,420

2,238

   Deferred revenue

130,273

109,019

   Lease obligations

5,733

6,322

223,553

197,504

Non-current liabilities:

   Income taxes payable

–

1,333

   Deferred income tax liabilities

11,897

13,340

   Deferred revenue

7,752

8,170

   Net employee defined-benefit obligation

1,922

1,912

   Lease obligations

4,337

6,080

25,908

30,835

249,461

228,339

 

Shareholders’ equity:

   Share capital

113,237

107,701

   Contributed surplus

10,252

10,404

   Retained earnings

436,848

426,397

   Accumulated other comprehensive income

12,267

10,829

572,604

555,331

$

822,065

$

783,670

 

Condensed Consolidated Interim Statements of Operations and Comprehensive Income

(in thousands of Canadian dollars, except per share amounts)

(unaudited)                                            

Three months

Six months

Periods ended April 30

2024

2023

2024

2023

Revenue

     Software licenses

 

$  20,492

$  22,016

 

$  37,467

$  42,751

     SaaS and maintenance services

84,984

71,634

169,571

138,137

     Professional services

17,401

17,995

33,346

34,886

     Hardware

2,936

1,816

5,918

4,122

125,813

113,461

246,302

219,896

Direct costs

     Software licenses

741

698

1,415

1,568

     Services

40,951

36,793

80,482

69,218

     Hardware

1,509

615

2,886

2,128

43,201

38,106

84,783

72,914

Revenue, net of direct costs

82,612

75,355

161,519

146,982

Operating expenses

     Selling, general and administrative

24,812

23,935

47,681

44,733

     Research and development

22,098

21,233

43,409

39,783

     Depreciation

551

613

1,045

1,239

     Depreciation of right-of-use assets

1,570

1,931

3,076

3,667

     Special charges

106

2,001

197

2,029

49,137

49,713

95,408

91,451

Results from operating activities

33,475

25,642

66,111

55,531

Amortization of acquired software and customer relationships   

(11,146)

(9,838)

(21,520)

(18,670)

Foreign exchange losses

(86)

(790)

(1,803)

(1,843)

Interest expense – lease obligations

(148)

(192)

(298)

(359)

Finance income

2,602

1,006

4,963

1,982

Finance expenses

(12)

(124)

(12)

(131)

Other income (expenses)

220

(528)

106

( 655)

Income before income taxes

24,905

15,176

47,547

35,855

Provision for income taxes

4,931

2,640

9,440

6,296

Net income for the period

19,974

12,536

38,107

29,559

 

Item that may be subsequently reclassified to income:

Cumulative translation adjustment

9,455

11,295

1,438

21,038

Other comprehensive income

9,455

11,295

1,438

21,038

Comprehensive income

$  29,429

$    23,831

$  39,545

$  50,597

Earnings per share

Basic

$      0.36

$      0.23

$      0.69

$      0.53

Diluted

$      0.36

$      0.23

$      0.69

$      0.53

 

Condensed Consolidated Interim Statements of Cash Flows

(in thousands of Canadian dollars)

(unaudited)

 

Three months

 

Six months

Periods ended April 30

2024

2023

2024

2023

 

OPERATING ACTIVITIES

Net income for the period

$    19,974

$    12,536

$    38,107

$    29,559


Adjustments for non-cash items

   Depreciation

551

613

1,045

1,239

   Depreciation of right-of-use assets

1,570

1,931

3,076

3,667

   Interest expense – lease obligations

148

192

298

359

   Amortization of acquired software and customer relationships

11,146

9,838

21,520

18,670

   Stock-based compensation expense

501

473

778

931

   Provision for income taxes

4,931

2,640

9,440

6,296

   Finance expenses and other (income) expenses

(208)

652

(94)

786

38,613

28,875

74,170

61,507

Changes in non-cash operating working capital

6,651

(5,989)

(6,489)

(3,987)

Income taxes paid

(5,008)

(4,188)

(7,526)

(9,560)

Net cash provided by operating activities

40,256

18,698

60,155

47,960

INVESTING ACTIVITIES

Net purchase of property and equipment

(418)

(66)

(778)

(171)

Acquisitions, net of cash acquired*

(12,594)

(25,617)

(12,594)

(25,617)

Purchase consideration for prior-year acquisition

–

233

171

233

Purchase of short-term investments

–

–

–

(69)

Net cash used in investing activities

(13,012)

(25,450)

(13,201)

(25,624)

FINANCING ACTIVITIES

Issuance of share capital

373

–

4,683

604

Normal course issuer bid share repurchases

(1,147)

–

(1,147)

Repayment of lease obligations

(1,798)

(2,470)

(3,400)

(4,280)

Dividends paid

(12,188)

(10,225)

(24,344)

(20,446)

Net cash used in financing activities

(14,760)

(12,695)

(24,208)

(24,122)

 

Impact of foreign exchange on cash and cash equivalents

3,682

3,797

640

 

8,833

Increase (decrease) in cash and cash equivalents

16,166

(15,650)

23,386

7,047

Cash and cash equivalents – beginning of period

246,752

247,801

239,532

225,104

Cash and cash equivalents – end of period

$  262,918

$  232,151

$  262,918

$  232,151

* Acquisitions are net of cash acquired of $497 for the three and six months ended April 30, 2024 and $2,088 for the three and six months ended April 30, 2023, respectively. 

Enghouse Systems Limited
Segment Reporting Information
(in thousands of Canadian dollars)

Three months ended April 30

2024

2023

IMG

AMG

Total

IMG

AMG

Total

Revenue

$

80,530

$

45,283

$

125,813

$

64,578

$

48,883

$

113,461

Direct costs

(26,573)

(16,628)

(43,201)

(19,133)

(18,973)

(38,106)

Revenue, net of direct costs

53,957

28,655

82,612

45,445

29,910

75,355

Operating expenses excluding special charges

(23,483)

(11,751)

(35,234)

(23,034)

(12,596)

(35,630)

Depreciation

(392)

(159)

(551)

(544)

(69)

(613)

Depreciation of right-of-use assets

(997)

(573)

(1,570)

(941)

(990)

(1,931)

Segment profit

$

29,085

$

16,172

$

45,257

$

20,926

$

16,255

$

37,181

Special charges

(106)

(2,001)

Corporate and shared service expenses

(11,676)

(9,538)

 

Results from operating activities

 

$

 

33,475

 

$

 

25,642

 

Six months ended April 30

2024

2023

IMG

AMG

Total

IMG

AMG

Total

Revenue

$

156,666

$

89,636

$

246,302

$

122,431

$

97,465

$

219,896

Direct costs

(51,979)

(32,804)

(84,783)

(35,564)

(37,350)

(72,914)

Revenue, net of direct costs

104,687

56,832

161,519

86,867

60,115

146,982

Operating expenses excluding special charges

(44,909)

(23,447)

(68,356)

(42,285)

(23,916)

(66,201)

Depreciation

(769)

(276)

(1,045)

(1,081)

(158)

(1,239)

Depreciation of right-of-use assets

(1,933)

(1,143)

(3,076)

(2,041)

(1,626)

(3,667)

Segment profit

$

57,076

$

31,966

$

89,042

$

41,460

$

34,415

$

75,875

Special charges

(197)

(2,029)

Corporate and shared service expenses

(22,734)

(18,315)

 

Results from operating activities

 

$

 

66,111

 

$

 

55,531

About Enghouse

Enghouse is a Canadian publicly traded company (TSX:ENGH) that provides mission-critical vertically focused enterprise software solutions. Our core technologies are used for contact centers, video communications, virtual healthcare, telecommunications networks, public safety and the transit market. The Company’s two-pronged growth strategy to grow earnings focuses on organic growth and acquisitions, which, to date, have been funded through operating cash flows as the Company has no outstanding external debt financing. The Company is organized around two business segments, the Interactive Management Group (“IMG”) and the Asset Management Group (“AMG”) due to their unique customer segments and technology offerings. Further information about Enghouse may be obtained from the Company’s website at www.enghouse.com. 

Conference Call and Webcast

A conference call to discuss the results will be held on Tuesday, June 11, 2024 at 8:45 a.m. EST. To participate, please call
+1-289-514-5100 or North American Toll-Free +1-800-717-1738. Confirmation code: 14684. A webcast is also available at: https://www.enghouse.com/investors.php.

The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses Adjusted EBITDA as a measure of operating performance. Therefore, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is calculated based on results from operating activities adjusted for depreciation of property and equipment and right-of-use assets, and special charges for acquisition related restructuring costs. Management uses Adjusted EBITDA to evaluate operating performance as it excludes amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, foreign exchange gains and losses, other income and restructuring costs primarily related to acquisitions.

SOURCE Enghouse Systems Limited

Related Topics:
Continue Reading
Click to comment

Leave a Reply

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

Technology

Augmented Reality Navigation Market worth $6.33 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

19 mins ago

on

September 20, 2024

By

DELRAY BEACH, Fla., Sept. 20, 2024 /PRNewswire/ — The augmented reality (AR) navigation market is expected to reach USD 6.33 billion by 2029 from USD 1.17 billion in 2024, at a CAGR of 40.3% during the 2024-2029 period according to a new report by MarketsandMarkets™. Multiple companies like Volkswagen (Germany), Mercedes-Benz Group AG and many others are investing is augmented reality (AR) navigation which is increasing the opportunity for growth in the AR navigation market. The AR navigation market is continuously developing, with the presence of multiple players. Currently, the North America region is contributing significantly to the growth of the AR navigation market. Similarly, Asia Pacific, Europe and RoW regions are expected to be the growing market for the forecasted period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150009689

Browse in-depth TOC on “Augmented Reality Navigation Market” 
184 – Tables
61 – Figures
195 – Pages

Augmented Reality Navigation Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 1.17 billion

Estimated Value by 2029

$ 6.33 billion

Growth Rate

Poised to grow at a CAGR of 40.3%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By offering, type, application, end-user industry, and region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Limited user acceptance and familiarity with AR navigation

Key Market Opportunities

Integration of 5G technology with AR navigation

Key Market Drivers

Integration of AR in automotive systems drives AR navigation market

AR navigation software to have the highest market share in offering segment of augmented reality (AR) navigation market in the forecast period from 2024 to 2029.

AR navigation software dominates the AR navigation market as it plays a vital role in providing a complete and interactive navigation experience. This category includes different types of software, such as AR mapping and localization software, which are essential for accurate positioning and spatial awareness. AR navigation apps use AR technology to give real-time directions and visual guidance, making navigation more user-friendly and engaging. Moreover, AR SDKs (software development kits) allow developers to create custom AR solutions, promoting innovation and growth in the market. AR Cloud solutions provide persistent and shared spatial data, which enhances the accuracy and usefulness of navigation services. Other software solutions, like AR HUD software and AR data visualization software, also support the industry by enhancing navigation capabilities.

Indoor navigation sub-segment of type segment in augmented reality (AR) navigation market is expected to grow at the highest growth rate during the forecast period.

Indoor navigation involves the use of technology and systems to help people find their way inside buildings like shopping centers, airports, corporate offices, educational institutes, museums, hospitals, and others. Augmented reality navigation technology use sensors, maps, and location-finding tools to give accurate directions and information inside buildings where regular GPS are unavailable.

As indoor spaces become more complex it is rising the demand for easy-to-use AR navigation. Businesses are investing in AR navigation systems to improve customer satisfaction, make operations smoother, and make it easier for people to get around in big, complex buildings. Also, the growing use of smartphones and augmented reality is helping to create more advanced indoor AR navigation systems that provide real-time, interactive guidance and useful information.

As companies realize the importance of offering smooth and easy-to-use navigation experiences for their customers and staff, the demand for indoor navigation technology rises rapidly.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=150009689

Augmented reality navigation market in North America has the largest market share in 2023.

Augmented reality navigation industry in North America is sub-segmented into the US, Canada and Mexico. The North America market is undergoing significant growth due to advancement in augmented reality technology, widespread use of HUD and HMD and rising demand of advanced navigation system that provide real-time directions, visual indicators, and interactive features with enhanced wayfinding experience for both outdoor and indoor environment. North America has strong presence of key players and startup companies within the region that promotes new innovation and technological development. US based companies such as Google LLC, Microsoft, Apple Inc. are continuously involved in developing and upgrading the existing technology.

Key Players

The key players in AR navigation companies are Google LLC (US), Apple Inc. (US), Microsoft (US), Neusoft Corporation (China), WayRay AG (Switzerland), FURUNO ELECTRIC CO., LTD.  (Japan), ARway Corp. (Canada), Wiser Marine Technologies Ltd. (Canada), Mapbox (US), Treedis (Israel), ViewAR GmbH (Austria), Artisense GmbH (Kudan Germany GmbH.) (Germany), IndoorAtlas (Finland), Hyper (London), SITUM TECHNOLOGIES (Spain), Insider Navigation Inc (Austria), Wemap SAS (France), Resonai Inc. (Israel), Oriient New Media Ltd (Israel), Navigine (US), 22Miles (US), Sygic (Bratislava), Veo (Poland), HERE (Netherlands), and Esri (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=150009689

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Augmented and Virtual Reality Market by Enterprise, Technology (Augmented Reality, Virtual Reality), Offering (Hardware, Software), Device Type (HMDs, HUDs, Gesture Tracking Devices), Application and Region – Global Forecast to 2029

Augmented Reality (AR) Market Size, Share & Industry Growth Analysis Report by Product by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography – Global Forecast to 2026

Mobile Augmented Reality (AR) Market with COVID-19 Impact Analysis by Device Type (Smartphones, Tablets, PDAs), Offering (Software, Services), Application (Consumer, Healthcare, Enterprise, Commercial), and Region – Global Forecast to 2025

Augmented and Virtual Reality in Healthcare Market by Offering (Hardware and Software), Device Type, End User, Application (Patient Care Management, Medical Training & Education, Pharmacy Management, Surgery), and Geography – Global Forecast to 2023

Head-Up Display Market by Type (Conventional Head-Up Displays, AR-Based Head-Up Displays), Component (Video Generators, Projectors/ Projection Units, Display Units), Technology (CRT-based HUD, Digital HUD), Application & Region- Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/ar-navigation-companies.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/ar-navigation.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/augmented-reality-navigation-market-worth-6-33-billion-by-2029—exclusive-report-by-marketsandmarkets-302254020.html

Continue Reading

Technology

HandicapMD Expands Leading Telemedicine Services for Disabled Parking Permits in Florida

Published

19 mins ago

on

September 20, 2024

By

HandicapMD’s virtual telemedicine platform connects patients with licensed doctors to obtain disabled parking placards quickly, safely, and affordably.

MIAMI, Sept. 20, 2024 /PRNewswire/ — HandicapMD, the nation’s leading telemedicine platform for disabled parking permits, has launched its services for residents across Florida, marking another milestone in its nationwide expansion. HandicapMD has already helped thousands of patients navigate the complex process of obtaining disabled parking placards through secure online disabled permit evaluations by licensed physicians.

HandicapMD, Floridians can now complete the evaluation process for a how to get a disabled parking permit in Florida from the convenience of their homes, with services starting at just $159.

“Many patients face barriers when trying to get their disabled parking placards, whether due to mobility issues, long wait times, or the paperwork involved,” says Dr. Eric Jackson-Scott, CEO and Founder of HandicapMD. “Our goal is to streamline this process for Florida residents by offering telemedicine consults with licensed doctors.”

Through HandicapMD’s telemedicine platform, patients in Florida can receive the following benefits of a disabled parking placard:

Access to designated disabled parking spaces near entrancesExtended time limits in restricted zonesExemption from parking meter feesAbility to park in residential permit zones

HandicapMD’s service is available from 8 a.m. to 10 p.m., seven days a week, with no appointment needed. If a patient does not qualify for a disabled parking permit, they won’t be charged for the evaluation.

“Our expansion into Florida is driven by the need to provide an easier, more accessible solution for individuals with disabilities,” says Dr. Jackson. “We’re excited to bring our telemedicine platform to Florida, helping residents gain the mobility they deserve without unnecessary delays or inconvenience.”

About HandicapMD: HandicapMD is the nation’s leading telemedicine platform for disabled parking permits, offering services in states across the U.S. The platform connects patients with fully licensed doctors for hassle-free online evaluations, helping them secure disabled parking placards from the comfort of their homes. HandicapMD is committed to improving accessibility for individuals with disabilities and providing exceptional care through its innovative telehealth platform.

For more information, visit handicap placard Florida online.

Contact:
Ena D.
help@handicapmd.com
(833) DMV-3825

Photo(s):
https://www.prlog.org/13039451

Press release distributed by PRLog

View original content:https://www.prnewswire.com/news-releases/handicapmd-expands-leading-telemedicine-services-for-disabled-parking-permits-in-florida-302253963.html

SOURCE HandicapMD

Continue Reading

Technology

Autonomous Mobile Robots (AMR) Market to cross $10 Billion TAM with around 500K AMRs shipment by 2030 – LogisticsIQ

Published

19 mins ago

on

September 20, 2024

By

NEW DELHI, Sept. 20, 2024 /PRNewswire/ — The global Autonomous Mobile Robots (AMRs) market is poised for significant growth, driven by increasing demand for automation across various sectors, including logistics, manufacturing, and healthcare. According to the latest market research by LogisticsIQ (5th Edition), Autonomous Mobile Robots (AMR) Market to cross $10 Billion TAM by 2030 with a CAGR of ~30% between 2024 and 2030. We expect the installed base of AMRs to reach 2 million units in 2030.

Download a Free Sample of our report on Autonomous Mobile Robots Market

Key Market Drivers

Increased Efficiency: Businesses are rapidly adopting AMRs to enhance operational efficiency, reduce labour costs, and streamline workflows.Labor Shortages: The ongoing labour shortages in various industries have accelerated the need for automated solutions, making AMRs a crucial investment for companies.Technological Advancements: Innovations in artificial intelligence (AI), machine learning, and sensor technology are making AMRs more capable and reliable.Growing E-Commerce: The rise of e-commerce has created a demand for efficient warehouse management solutions, further boosting the AMR market.

Regional Insights

North America leads the AMR market, accounting for the largest share due to the early adoption of automation technologies. Meanwhile, the Asia-Pacific region, especially China is expected to witness the fastest growth, fuelled by rapid industrialization and increasing investments in smart factories. US and China are going to contribute ~40% of this market by 2030.

Industry Applications

Autonomous mobile robots are being utilized in various applications, including:

Warehouse Automation: AMRs enhance inventory management and order fulfillment processes. This industry is expected to lead with more than 75% share by 2030.Manufacturing: Robots facilitate material handling and assembly line operations. Traditionally, it has been dominated by AGVs but are getting replaced by AMRs due to more flexibility and scalability features.Healthcare: AMRs assist in transporting medical supplies, improving patient care and operational efficiency. It is a niche market but high growing area to focus further.

Purchase the full report on the Autonomous Mobile Robots Market – Growth, Trends, and Forecast

Top Factors & Challenges in the Autonomous Mobile Robots Market

Top Factors Driving Growth

Increased Demand for Automation: Businesses across industries are increasingly seeking automation to enhance efficiency and reduce operational costs.Technological Advancements: Innovations in AI, machine learning, and sensor technologies improve the capabilities and reliability of AMRs, making them more attractive to businesses.Labor Shortages: Ongoing labour shortages, especially in sectors like logistics and manufacturing, are pushing companies to adopt AMRs to maintain productivity.Growth of E-Commerce: The surge in online shopping requires efficient warehouse and logistics solutions, driving the adoption of AMRs for inventory management and order fulfillment.Improved Safety Standards: AMRs can reduce workplace accidents by taking over hazardous tasks, leading to safer working environments.Customization and Scalability: Many AMR solutions offer customizable features that allow businesses to scale operations according to their specific needs.

Top Challenges

High Initial Costs: The upfront investment for AMRs can be substantial, which may deter smaller businesses from adoption.Integration with Existing Systems: Integrating AMRs into current operational workflows and legacy systems can be complex and resource-intensive.Regulatory Compliance: Navigating regulatory requirements and safety standards can pose challenges, especially in highly regulated industries.Limited Awareness and Understanding: Some businesses may lack knowledge about AMR technology and its potential benefits, hindering adoption.Technical Limitations: While technology is advancing, AMRs may still struggle with navigating complex environments or handling unexpected obstacles.Cybersecurity Concerns: As AMRs become more connected, they may be vulnerable to cybersecurity threats, requiring robust security measures.

Know more about Autonomous Mobile Robots Market – Top Players, Cost Analysis, Competition, and Customer Expectation

What will you get in this report?

500 Pages and 160+ Exhibits Market ReportRevenue and Shipment data segmented:By form factor (Deck-load, Tugger/Pull, Forklift)By Navigation (Tape/Wire/Magnet, Reflector, QR Codes, LiDAR, Camera, Sensor, Fusion)By Function (Goods to person (G2P), Person to Goods (P2G), Conveying, Piece picking, Towing, Pallet Handling)By Application (Manufacturing, Logistics and Warehousing, Shipping, Delivery, Cleaning, Security, Hospital, Retail)Detailed excel file with 150+ market tables (Revenue and Shipment) including forecast till 2030A bottom-up analysis of Autonomous Mobile Robots Market for 19 countries (United States, Canada, Germany, UK, France, Italy, Spain, Nordics, China, Japan, South Korea, Australia, India, Taiwan, Thailand, Malaysia, Singapore, Indonesia, Phillippines) in 5 regionsIn-depth analysis of 700 companies in the ecosystem with more than 160 company profiles.Focus Group Discussion with 100+ key industry stakeholders across the value chain to collect the first-hand information to validate our analysis. Stakeholders include components and technology providers, system integrators, robot manufacturers (OEM/ODM), robotic software & service providers, and end-user industry verticals. Apart this, study also focuses on different components and integral parts of Autonomous Mobile Robots like Motion Control, Batteries & Chargers, Cameras / Vision Sensor, LiDAR, Sensor Fusion, QR Code and Wireless Communication.2 Analyst Sessions to brainstorm furtherInvestment details excel file with 175+ M&A and ~1000 funding dealsLogisticsIQ™ Exclusive Market Map (700+ Players across more than 15 categories)

About LogisticsIQ

LogisticsIQ is a dedicated market research and advisory firm in Logistics & Supply Chain sector, empowering decision makers from top fortune 1000 companies, financial and research institutions, private equity and high potential start-ups with market insights to make better decisions. We enable this by analysing the right mix of the best data, the best research methodologies, and the best industry panel to deliver value to our clients.

Media Contact

Name: Sunny M.
Email: sunny@thelogisticsiq.com
Phone: +91-952-918-4938 

Photo: https://mma.prnewswire.com/media/2510643/Autonomous_Mobile_Robots_Market.jpg
Logo: https://mma.prnewswire.com/media/2320412/LogisticsIQ_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/autonomous-mobile-robots-amr-market-to-cross-10-billion-tam-with-around-500k-amrs-shipment-by-2030—logisticsiq-302253915.html

Continue Reading

Trending