Ynvisible Interactive Forecasts Strong Q4 2020
April 20, 2021 | Business WireEstimated reading time: 3 minutes
Ynvisible is forecasting the following financial results for the period of October 1, 2020, to December 31, 2020 (Q4) as compared to its most recently reported period of July 1, 2020, to September 30, 2020 (Q3) and the period from April 1, 2020, to June 30, 2020 (Q2):
- The Company is forecasting Q4 sales of $142,374 and Q4 cost of sales of $85,184 compared to reported Q3 sales of $108,442 and Q3 cost of sales of $90,750, and Q2 sales of $77,264 and Q2 cost of sales of $33,093.
- Operating expenses are expected to be $1,400,000 in Q4, compared to $1,125,119 in Q3, from $1,312,990 in Q2.
- Adjusted for income from other sources, including prototype projects and EU co-funded project grants, is expected to be $472,159 for Q4, compared to $357,733 for Q3, compared to $300,791 reported in Q2.
The Company is continuing to see steady growth in income from clients. With the financial forecasts announced, the Company forecasts cumulative revenue for 2020 to be $1,236,000.
"Our forecasts recognize that Ynvisible's 2020 revenue comes from a mix of funded research, development, prototyping, and contract manufacturing services. This provides a holistic view of our investment and growth strategy as an emerging technology firm," commented Darren Urquhart, CFO of Ynvisible.
"In 2020, we took bold operational steps to realize the transformation from a primarily contracted research organization into an integrated manufacturer and solutions provider, with a dedicated sales team," added Michael Robinson, CEO of Ynvisible.
"As we fulfill EU-funded commitments, we see income from development, prototyping, and contract manufacturing services continuing to increase in the short-term. Our focus continues to be delivering recurring revenue based on excellent customer service, better supporting our Americas-based customers to integrate Ynvisible's display technology into fulfilling demands for differentiated and value-added IoT solutions," Mr. Robinson continued.
"Our acquisitions of Consensum and rDot in 2019 and first-half 2020 are bearing fruit in second-half 2020. We focused on growing customers, winning development and prototyping contracts, and vertically connecting our operations. These are the critical foundations to continued revenue growth and recurring revenue in 2021, 2022, and beyond," said Jani-Michael Kuusisto, Sr. VP of Ynvisible Ventures. "Further, EU-funded engagements allow us to reinforce critical ecosystem partnerships while providing a pipeline of mid and long-term innovations."
The guidance provided herein has been approved by management on April 19, 2021. The Company will file its Q4 financial statements and MD&A on or before April 30, 2021 and will update these financial results then.
Technology Transfer and Manufacturing Partnership
Ynvisible Interactive Inc. and ALMAX have partnered to bring sensing cold chain, logistics and Human Machine Interface (HMI) solutions to market for distributors and end customers. Ynvisible and ALMAX have signed a Transfer Agreement for North American and Chinese commercial production of a Temperature Threshold Indicator tag.
Ynvisible will supply ALMAX with ready-made electrochromic displays, in volume roll-to-roll format, for ALMAX integration. ALMAX has begun production of the temperature tag, customized with the ALMAX logo and graphics.
Also ALMAX has produced 200 production-ready demonstrators integrating Ynvisible electrochromic displays into ALMAX electronics, customized with the ALMAX logo and contact information.
Founded in 2000, ALMAX is owned by two experienced membrane switch and interface application ME & EE professionals from the United States. ALMAX specializes in prototyping through volume production, making it easy to get customers' products to market. ALMAX owns two factories in China and one in the USA with highly trained engineers and assemblers in all locations. ALMAX is ISO 9001, ISO13485, & IATF 16949 certified.
ALMAX is a global Printed Electronic and HMI manufacturer headquartered in Kirkland, Washington, USA, specializing in keypads (resistive or capacitive), complex electronic interface assemblies, smart keypads, backlighting, and precision circuit printing.
"I am very excited about this new partnership with Ynvisible. The temperature tag is only the beginning of integrating our technologies to provide custom Human Machine Interface assemblies. Ynvisible's thin and flexible electrochromic display technology allows both companies to provide solutions previously more difficult to manufacture, much thicker and cost-prohibitive," stated Alan Burk, President of ALMAX. "We can now integrate a printed display for a complete solution."
"ALMAX has a 20-year track record of meeting customers' aesthetic, environmental, mechanical, and electrical requirements with the high quality, customer service and competitive prices," added Tommy Hoglund, VP Global Sales & Marketing Ynvisible Interactive Inc. "Our partnership provides end-customers a clearer path to manufacture and launch and enables value-added white label solutions to the broader market."
Suggested Items
ZESTRON Welcomes Whitlock Associates as New Addition to their Existing Rep Team in Florida
04/19/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, is thrilled to announce the addition of Whitlock Associates to its esteemed network of sales representatives.
Real Time with... IPC APEX EXPO 2024: AI Implementation at Omron
04/18/2024 | Real Time with...IPC APEX EXPOEditor Nolan Johnson and Omron Product Manager Nick Fieldhouse discuss the company's focus on AI implementation to enhance customer experience and results. They address programming challenges and how AI can help customers achieve better outcomes with less experience. Omron's AI is compatible with existing systems, facilitating easy upgrades.
Cadence Unveils Palladium Z3 and Protium X3 Systems
04/18/2024 | Cadence Design SystemsThe Palladium Z3 and Protium X3 systems offer increased capacity, and scale from job sizes of 16 million gates up to 48 billion gates, so the largest SoCs can be tested as a whole rather than just partial models, ensuring proper functionality and performance.
Ark Electronics Expands Global Manufacturing Factory Network in North America and Europe
04/17/2024 | PRNewswireElectronic Manufacturing Company Ark Electronics recently announced the expansion of its Global Factory Network with the addition of Electronics Manufacturing Service (EMS) capabilities in Mexico and Europe.
New Yorker, Geyer Electronic Sign New Distribution Agreement
04/16/2024 | New Yorker Electronics Co.New Yorker Electronics, global distributor of electronic components, recently announced a new franchised distribution agreement with Geyer Electronic. Geyer is an international manufacturer of Quart Crystals, Oscillators and Resonators.