Notable Newsmakers
DENVER, Colo., Apr 17, 2024 (247marketnews.com)- INVO Bioscience, Inc. (Nasdaq:INVO), Brera Holding (NASDAQ:BREA), CXApp Inc. (NASDAQ:CXAI), Spectaire Holdings Inc. (NASDAQ:SPEC), and WiSA Technologies, Inc. (Nasdaq:WISA).
INVO Bioscience, Inc. (Nasdaq:INVO) reported its fourth quarter and full year 2023 financial results and provided a business update, with full year revenue increasing 267%, to $3,020,575, compared to $822,196 for 2022 and adjusted EBITDA was $(5.1) million compared to $(8.4) million, for 2022.
“We continue to execute on our plan to capture a greater share of the total fertility cycle revenue and profit through the transformation of INVO into an innovative healthcare services company, driven by our existing INVO Centers and recently acquired Wisconsin-based IVF Center,” commented Steve Shum, CEO of INVO. “During 2023, our revenue increased to more than $3.0 million, a 267% increase from the previous year, and included approximately 4.5 months of revenue from our Wisconsin revenue. In total, revenue from all clinics, inclusive of both those accounted for as consolidated and under the equity method, was more than $4.3 million. The growth in revenue has also had a positive impact on our adjusted EBITDA, as we work towards our stated goal of reaching break-even or profitability within our current operations (excluding the potential merger with NAYA) in 2024. With a full year of revenue from our Wisconsin clinic and further expected growth overall, we believe we remain on track to reach that objective. We are excited about our position in the fertility market, and the opportunity we have to make advanced fertility care more accessible and inclusive to people around the world.”
Brera Holding (NASDAQ:BREA) announced that its first-division football clubs in Asia and Africa resumed their seasons and are back in action.
“After achieving most of our goals last year, including Brera Tchumene’s promotion to the Moçambola, it’s important that we maintain that momentum. The teams worked hard during the offseason, so we can start the season strong, and Brera Ilch FC is now looking in-form,” said Brera Holdings CEO, Pierre Galoppi.
Brera is actively scouting to acquire the next piece of their multiclub ownership (MCO), professional football team puzzle, which could include some well-known names.
“The acquisition of a professional football club will demonstrate our ability to execute the MCO model at the highest level, and we are eager to announce the transaction details when finalized,” said Brera Holdings CEO, Pierre Galoppi. “In addition to acquiring clubs that have significant upside potential, our goal is to partner with clubs that share our fundamental belief in player culture and development. By aligning Brera with high profile clubs and partners who share our vision, we believe it will unlock several layers of player progression and deliver new revenue streams by building champions, as opposed to buying them,” Galoppi concluded.
Famed Investment Banker, Daniel McClory, took a large position in Brera, which operates in a space that is projected to be a top asset class.
To address this dynamic, Goldman Sachs (NYSE:GS), which worked on Chelsea Football Club and Formula One deals, created a Sports Franchise unit, within its investment banking division, to provide wealthy clients with opportunities to invest in sports team financing, while JP Morgan (NYSE:JPM) recently established a Sports Investment Banking division and reported “The sports sector has evolved into a significant asset class, drawing an increasing number of institutional investors.”
According to the WSJ, “Limited supply is one of the main attractions of investing in sports teams, as opportunities arise only when team owners pass away or encounter troubles, per the report. It’s also a status symbol for the wealthy and famous.”
CXApp Inc. (NASDAQ:CXAI) reported record Annual Recurring Revenue (ARR) growth in the fourth quarter of 2023 and 24% ARR growth for the full year 2023, tied to two large Fortune 1000 logo wins in Q4 that are slated for deployment in the summer of 2024, and that it’s rebranding to CXAI, pronounced “Sky”, representing a shift towards an AI-centric approach in workplace innovation.
Khurram Sheikh, Chairman and CEO of CXAI, stated, “As we transform into CXAI, we go beyond digitizing the places of work. Our partnership with Google Cloud empowers us to create environments that are customized, optimized, and geared towards fostering happier, healthier, and more engaged employees. This isn’t just a change in name; it’s our platform to creating human-centric workplace experiences that prioritize well-being through smart, personalized experiences.”
Spectaire Holdings Inc. (NASDAQ:SPEC) formed a distribution partnership that grants global distribution rights for Spectaire’s AireCore units for the oil and gas industry to a Fortune 1000 Energy Company.
Brian Semkiw, CEO of Spectaire, said, “This collaboration with our Strategic Partner is a transformative step for Spectaire and the oil and gas industry at large. By integrating our state-of-the-art AireCore technology with the global reach and expertise of our partner, we’re setting a new standard for environmental measurement and emissions reduction. Our technology’s capability to precisely monitor and report emissions will be instrumental in helping the industry achieve its ambitious environmental goals. We are proud to work alongside a partner that shares our commitment to sustainability and innovation.”
WiSA Technologies, Inc. (Nasdaq:WISA) executed its fourth 5-year WiSA E licensing agreement with a fourth major HDTV/PTV brand, which allows the brand to integrate WiSA E software into its products, thereby offering consumers a variety of wireless immersive audio options including full interoperability with any of the WiSA E-enabled speakers offered by the many WiSA Association speaker brands.
“We are very pleased that yet another major HDTV brand recognizes the value of our WiSA E technology, as well as our licensing model for market deployment,” stated Tony Ostrom, president of the WiSA Association. “With four major TV brands onboard, the market is clearly validating both our technology and our vision of enabling every immersive audio source device with low-cost capability to deliver high-quality interoperable wireless audio to consumers. We continue to pioneer a new era of audio technology for high-quality, immersive audio experiences driven by an increase in demand for exceptional wireless audio solutions.”
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