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Vislink Technologies, Inc. (VISL)

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Neutralpattern detected
Previous Close1.3500
Open1.3200
Bid1.2900 x 1000
Ask1.3200 x 1800
Day's Range1.2500 - 1.3400
52 Week Range0.6600 - 8.9400
Volume1,701,800
Avg. Volume2,247,872
Market Cap27.142M
Beta (5Y Monthly)1.66
PE Ratio (TTM)N/A
EPS (TTM)-1.3550
Earnings DateNov 13, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Vislink Technologies Joins Grass Valley Technology Alliance
    GlobeNewswire

    Vislink Technologies Joins Grass Valley Technology Alliance

    Certification Program Opens Door to New Customer Base for Vislink ProductsHACKETTSTOWN, NJ, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Vislink Inc. (the “Company”) (Nasdaq: VISL), the global technology leader in the collection, delivery and management of high quality, live video and associated data, announced today that it has joined the Grass Valley Technology Alliance (“GVTA”).Launched in April 2019, GVTA is a Grass Valley certification program that delivers key benefits to customers, such as improved purchasing confidence and access to a wide range of systems and solutions that are interoperable with Grass Valley platforms and workflow components.“As the global pandemic continues to isolate viewers, fans and spectators, joining the GVTA allows Vislink to plug into a complete ecosystem of like-minded certified partners dedicated to bringing viewers closer to the action through rich, compelling content through immersive production and the proliferation of remote broadcasting,” said Mickey Miller, CEO of Vislink. “While we already offer the INCAM-HG Integral Wireless Camera Transmitter in partnership with GVTA, this final step in the certification process extends our partnership network and increases our potential customer base and the products we can offer them.”Vislink currently produces the INCAM-HG Integral Wireless Camera Transmitter, a fully integrated HEVC 4K UHD, HDR-ready wireless system, designed for the Grass Valley LDX 86N 4k-RF 4K UHD camera.The Vislink INCAM-HG provides full broadcast quality encoding at 4K UHD, 1080p, 1080i and 720p with camera control. With high-quality video solutions offering the lowest latency, Vislink provides solutions that deliver high-impact imagery which inspires and involves TV audiences of major events worldwide. This product in particular thrives in a wide range of immersive coverage settings, including urban and rural-centric environments, sporting events, on-the-ground disaster scenarios and newsgathering, to name a few.Key features include: * HEVC/4K UHD Very Low Latency Encoder * HDR Ready * Interchangeable RF Modules * FocalPoint Compatible integrated Camera Control * Remote control over Wi-Fi via web interface * External Audio Input * Viewfinder output * Optional built-in return video receiver with viewfinder switching * Optional wireless microphone input (WisyCom)“As our customers strive to deliver the captivating content and high production values that consumers demand, the Grass Valley Technology Alliance gives them access to trusted solutions that are tested and configured to ensure interoperability with Grass Valley’s solutions – one of the major hurdles our customers face when deploying multi-vendor systems, ” said Tim Shoulders, CEO, and president of Grass Valley. “We are delighted to see Vislink join the GVTA, bringing our valued ecosystem partners to a total of 20 diverse companies that support collaboration across the media production chain.”Vislink joins GVTA members Haivision, Vinten and Autoscript, ChyronHego, Frankly Media, Net Insight, RT Software and Telemetrics.To learn more about Vislink’s Live Production Products and Solutions, click here. About Grass ValleyGrass Valley's end-to-end ecosystem of reliable, open standards-based solutions helps content creators, broadcasters, and media organizations to produce brilliant content and build successful media businesses. We are the trusted partner to many of the biggest and most creative names in the media and entertainment business, enabling the production of rich, high-quality content that brings the viewer closer to the action; engages them with the story, and connects them with each other. Headquartered in Montreal, Grass Valley has been in the broadcast business for 60 years and is part of St. Louis-based Belden Inc. In February 2020, Black Dragon Capital signed an agreement to acquire Grass Valley from Belden. This transaction is expected to complete in H1 2020.About Vislink Inc.Vislink is a global technology business specializing in the collection, delivery, and management of high quality, live video and associated data from the scene of the action to the viewing screen. For the broadcast markets, Vislink provides solutions for the collection of live news, sports, and entertainment events. Vislink also furnishes the surveillance and defense markets with real-time video intelligence solutions using a variety of tailored transmission products. The Vislink team also provides professional and technical services utilizing a staff of technology experts with decades of applied knowledge and real-world experience to the areas of terrestrial microwave, satellite, fiber optic, surveillance, and wireless communications systems, to deliver a broad spectrum of customer solutions. Vislink’s shares of Common Stock are publicly traded on the Nasdaq Capital Market under the ticker symbol “VISL.” For more information, visit www.vislink.com.Investor Relations: Phil Carlson KCSA Strategic Communications Vislink@kcsa.comMedia Contacts: Anthony Feldman / Jenny Robles KCSA Strategic Communications Vislink@kcsa.com

  • Vislink Technologies Reports Q3 2020 Financial Results
    GlobeNewswire

    Vislink Technologies Reports Q3 2020 Financial Results

    HACKETTSTOWN, NJ , Nov. 12, 2020 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (“Vislink” or the “Company”) (Nasdaq: VISL) announced its results for the third quarter ended September 30, 2020. Company management will host a live webcast on Friday, November 13, 2020 at approximately 10:00 a.m. ET to review the Company’s financial and operating results and provide a general business update (see webcast details below). Financial Highlights * Revenues for the three months ended September 30, 2020 were $4.8 million, compared to $5 million for the three months ended September 30, 2019. * EBITDA (earnings before interest, taxes depreciation and amortization) was a negative $2.4 million for the three months ended September 30, 2020, compared to a negative $4.7 million for the three months ended September 30, 2019. * Ended the third quarter 2020 with $3.1 million in cash. * Gross margins were 31.8% of revenue in the third quarter of 2020, compared to 40.7% in the third quarter of 2019. * Net loss attributable to common shareholders was $2.8 million, or $(0.17) per share in the third quarter 2020 compared to a net loss of $5 million, or $(2.41) per share in the third quarter of 2019. * Net loss attributable to common shareholders was $8 million, or $(0.61) per share for the nine months ended September 30, 2020 compared to a net loss of $11.7 million, or $(12.77) per share for the nine months ended September 30, 2019.“In the third quarter, we continued to feel the effects of a challenging macro business environment,” said Carleton Miller, CEO of Vislink Technologies. “The ongoing COVID-19 pandemic limited our growth and softened demand in our key Live Production and MilGov markets, as customers delayed deliveries for new and upgraded equipment. The pandemic also impacted our supply chain, which led to an interruption in receiving components from our suppliers. This further constricted our ability to fulfill orders in the quarter, although we do expect these interruptions to be resolved over the course of Q4.”“In response to this, we redoubled our efforts to successfully streamline all aspects of our business. We built on the disciplined, cost-focus approach we instituted earlier this year and realized additional operational efficiencies during the quarter. We will continue this approach with additional cost reduction measures that are expected to achieve $5 million in savings. Our diligence in adhering to this next phase of our operational turnaround helped us mitigate the effects of the business downturn, conserve cash and stabilize our finances. These actions have put us in a better position to pursue and capture growth opportunities as they arise for the remainder of 2020 and into next year.”Mr. Miller continued, “During the third quarter, we experienced positive results from our product-focused innovation. We were pleased to introduce two significant product lines: the DVE/IRD satcom encoder/decoder, and the IP Link 3.0 digital microwave system. These will be followed by the introduction of the new Quantum Receiver in the first half of 2021. While the cancelling and scaling back of major live sporting and entertainment events has pushed back infrastructure investments over the past two quarters, we are slowly witnessing such events coming back on line. This will allow us to again leverage our experience in covering events like the Olympic Games, World Cup and other tier-one competitions that we traditionally participate in. Because of this, we remain cautiously optimistic for a return to normalcy in the industries we serve.”Financial Results Webcast DetailsOn Friday, November 13, 2020, Vislink’s CEO, Carleton Miller, and CFO, Michael Bond, will host a webcast at approximately 10:00 a.m. ET to review the Company’s financial and operating results and provide a general business update. This webcast will be live at https://services.choruscall.com/links/visl201113.html. Investors will be able to submit questions during the webcast.Non-GAAP Financial Measure: EBITDATo supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), we are presenting EBITDA in this earning release and the related earning conference call. EBITDA is a non-GAAP financial measure that is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similarly titled measures presented by other companies. We define EBITDA as our net income (loss), excluding the impact of depreciation and amortization expense and interest income/expense. We have presented EBITDA because it is a key measure used by our management and board of directors to understand and evaluate our operating performance, to establish budgets and to develop operational goals for managing our business. In particular, we believe that excluding the impact of these expenses in calculating EBITDA can provide a useful measure for period-to-period comparisons of our core operating performance. About Vislink Technologies, Inc.Vislink is a global technology business specializing in the collection, delivery, and management of high quality, live video and associated data from the scene of the action to the viewing screen. For the broadcast markets, Vislink provides solutions for the collection of live news, sports, and entertainment events. Vislink also furnishes the surveillance and defense markets with real-time video intelligence solutions using a variety of tailored transmission products. The Vislink team also provides professional and technical services utilizing a staff of technology experts with decades of applied knowledge and real-world experience to the areas of a terrestrial microwave, satellite, fiber optic, surveillance, and wireless communications systems, to deliver a broad spectrum of customer solutions. Vislink’s shares of Common Stock are publicly traded on the Nasdaq Capital Market under the ticker symbol “VISL.” For more information, visit www.vislink.com.Note on Forward-looking StatementsCertain statements in this press release are forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in this press release, including those regarding the Company’s strategy, future operations, future financial position, projected expenses, prospects, plans, objectives of management and financial reporting abilities, maintenance of new product pipeline and technical innovation, the Company’s expected focus on financial discipline and cost reduction plans, anticipated cost savings, planned adjustments to its workforce, expected market opportunities across the Company’s operating segments, the Company’s expectations as to its operational turnaround, including operational efficiencies and future capital allocation, the effects of the COVID-19 pandemic, the sufficiency of the Company’s capital resources to fund the Company’s operations and any statements regarding future results are forward-looking statements. Vislink may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in any forward-looking statements such as the foregoing and you should not place undue reliance on such forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties, including those discussed in Vislink’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on April 1, 2020 and in subsequent filings with, or submissions to, the SEC.The statements made in this press release speak only as of the date stated herein, and subsequent events and developments may cause the Company’s expectations and beliefs to change. While the Company may elect to update these forward-looking statements publicly at some point in the future, the Company specifically disclaims any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date after the date stated herein.For more information: investors@vislink.comVISLINK TECHNOLOGIES, INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (IN THOUSANDS EXCEPT NET LOSS PER SHARE DATA)   For the Three Months Ended  For the Nine Months Ended    September 30,  September 30,    2020  2019  2020  2019  Revenue $4,778  $5,007  $16,138  $20,565                    Cost of revenue and operating expenses                 Cost of components and personnel  3,257   2,968   8,505   10,611  Inventory valuation adjustments  195   223   244   312  General and administrative expenses  3,200   5,329   12,721   16,062  Research and development expenses  616   799   1,831   2,591  Gain on lease termination  —   —   (21)  —  Amortization and depreciation  337   586   1,094   1,763  Total cost of revenue and operating expenses  7,605   9,905   24,374   31,339  Loss from operations  (2,827)  (4,898)  (8,236)  (10,774)                   Other income (expense)                 Changes in fair value of derivative liabilities  82   281   1   954  Gain (loss) on conversion of debentures  —   15   —   (33) Gain on settlement of related party obligations  —   —   331   —  Other income (expense)  5   —   5   —  Interest expense, net  (53)  (393)  (102)  (1,807) Total other income (expense)  34   (97)  235   (886)                   Net loss $(2,793) $(4,995) $(8,001) $(11,660)                   Basic and diluted loss per share $(0.17) $(2.41) $(0.61) $(12.77) Weighted average number of shares outstanding:                 Basic and diluted  16,296   2,070   13,084   913  Comprehensive loss:                 Net loss $(2,793) $(4,995) $(8,001) $(11,660) Unrealized gain (loss) on currency translation adjustment  (192)  81   57   82  Comprehensive loss $(2,985) $(4,914) $(7,944) $(11,578) The accompanying notes are an integral part of these condensed consolidated financial statements.VISLINK TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS EXCEPT SHARE AND PER SHARE DATA)  September 30,  December 31,    2020  2019    (unaudited)     ASSETS         Current assets         Cash $3,123  $1,737  Accounts receivable, net  4,063   6,714  Inventories, net  9,532   7,674  Prepaid expenses and other current assets  964   660  Total current assets  17,682   16,785  Right of use assets, operating leases  1,616   1,925  Property and equipment, net  1,849   1,972  Intangible assets, net  2,155   2,922  Total assets $23,302  $23,604  LIABILITIES AND STOCKHOLDERS’ EQUITY         Current liabilities         Accounts payable $3,339  $6,784  Accrued expenses  1,873   1,912  Notes payable  96   339  Current portion of PPP loan  424   —  Operating lease obligations, current  324   821  Due to related parties  —   505  Customer deposits and deferred revenue  1,593   2,821  Derivative liabilities  29   30  Total current liabilities  7,678   13,212  Long-term portion of PPP loan  744   —  Operating lease obligations, net of current portion  1,279   1,163  Total liabilities  9,701   14,375  Commitments and contingencies (See Note 10)         Stockholders’ equity         Preferred stock – $0.00001 par value per share: 10,000,000 shares authorized as of September 30, 2020, and December 31, 2019; -0- shares issued and outstanding as of September 30, 2020, and December 31, 2019  —   —  Common stock – $0.00001 par value per share, 100,000,000 shares authorized, 17,160,808 and 3,594,548 shares issued and 17,158,149 and 3,591,889 outstanding as of September 30, 2020 and December 31, 2019, respectively  —   —  Additional paid-in capital  274,187   261,871  Accumulated other comprehensive income  264   207  Treasury stock, at cost – 2,659 shares at September 30, 2020, and December 31, 2019, respectively  (277)  (277) Accumulated deficit  (260,573)  (252,572) Total stockholders’ equity  13,601   9,229  Total liabilities and stockholders’ equity $23,302  $23,604  The accompanying notes are an integral part of these condensed consolidated financial statements.Reconciliation of GAAP to Non-GAAP ResultsVISLINK TECHNOLOGIES, INC. RECONCILIATION OF GAAP to NON-GAAP RESULTS QUARTER ENDING SEPTEMBER 30, 2020 (IN THOUSANDS)Reconciliation of net income to EBITDA    Net loss$(2,793)  interest expense (53)  Amortization and depreciation 337   EBITDA$(2,403)

  • VISLINK TECHNOLOGIES, INC. Third Quarter 2020 Earnings Update
    GlobeNewswire

    VISLINK TECHNOLOGIES, INC. Third Quarter 2020 Earnings Update

    HACKETTSTOWN, NJ, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (NASDAQ: VISL) (the “Company”) plans to release the results of its third quarter (ended September 30, 2020) on Thursday, November 12, 2020. On Friday November 13, 2020, Vislink’s CEO, Carleton Miller, and CFO, Michael Bond, will host a webcast at approximately 10:00 a.m. ET to give the Q3 earnings update. This webcast will be live at https://services.choruscall.com/links/visl201113.html. Investors will be able to submit questions during the webcast. About Vislink Technologies, Inc.Vislink Technologies is a global leader in the development and distribution of advanced communication solutions. Driven by technical excellence that has led the industry for over 50 years, our innovative products and turnkey solutions provide reliable connectivity in the toughest environments across the global live production, military and government sectors. Our solutions include high-definition communication links that reliably capture, transmit and manage live event footage, as well as secure video systems that support mission-critical applications. Vislink Technologies shares are publicly traded on the Nasdaq Capital Market under the ticker symbol VISL. For more information, visit www.vislink.com.Note on Forward-looking StatementsThis press release may contain projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements involve risks and uncertainties, and actual events or results may differ materially. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are the risk that our reduction in operating expenses may impact our ability to meet our business objectives and achieve our revenue targets and may not result in the expected improvement in our profitability, the fact that our future growth depends in part on further penetrating our addressable market and also growing internationally, and we may not be successful in doing so; our dependence on sales of certain products to generate a significant portion of our revenue; the effect of a decrease in the sales or change in sales mix of these products would harm our business; the risks that an economic downturn or economic uncertainty in our key U.S. and international markets may adversely affect demand for our products; difficulty in accurately predicting our future customer demand; the importance of maintaining the value and reputation of our brand; and other factors detailed in our Annual Report on Form 10-K for the year ended December 31, 2019 and our other subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof or as of the date otherwise stated herein. The Company disclaims any obligation to update these forward-looking statements.FOR MORE INFORMATION:investors@vislink.com