Beamr Issues Q1-2024 CEO Letter to Shareholders: Cloud service and AI workflows

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Beamr Imaging Ltd., a leading supplier of video optimization technology and solutions, has issued a Q1-2024 CEO letter to shareholders. In the letter, Sharon Carmel, the Chief Executive Officer, provides updates on the company's activities and progress. In Q1 2024, Beamr launched the Beamr Cloud SaaS solution, raised gross proceeds of $13.8 million in an underwritten offering, and teamed up with industry leaders like NVIDIA. They plan to focus on enabling vision AI processes in Beamr Cloud in Q2 2024. In terms of financials, Beamr generated approximately $0.39M in revenues in Q1 2024, representing an 18% increase compared to Q1 2023. As of March 31, 2024, the company had approximately $19M of cash and cash equivalents. The unaudited preliminary financial information is subject to completion of the quarter-end financial results.

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https://finance.yahoo.com/news/beamr-issues-q1-2024-ceo-110000202.html