U.S. Markets open in 45 mins

Vislink Technologies, Inc. (VISL)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
Add to watchlist
1.3200+0.0100 (+0.76%)
At close: 4:00PM EDT

1.3200 0.00 (0.00%)
Before hours: 8:00AM EDT

Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close1.3100
Open1.3000
Bid1.2600 x 3000
Ask0.0000 x 3000
Day's Range1.2600 - 1.3200
52 Week Range0.6600 - 8.9400
Volume551,142
Avg. Volume1,907,107
Market Cap21.257M
Beta (5Y Monthly)1.69
PE Ratio (TTM)N/A
EPS (TTM)-2.3500
Earnings DateAug 14, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Vislink Technologies Retains KCSA Strategic Communications as Corporate Communications Counsel

    HACKETTSTOWN, NJ, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (“Vislink” or the “Company”) (Nasdaq: VISL), the global technology leader in the collection, delivery and management of high quality, live video and associated data, announced today the retainment of KCSA Strategic Communications (KCSA), a leading New York City-based strategic communications firm, to develop a comprehensive strategic communications and investor-focused program to increase awareness of Vislink and communicate its mission of reliable connectivity to its stakeholders and the marketplace. Vislink’s technology, products and solutions provide the global live production, military and government and satellite sectors wireless connectivity and low latency communication in the toughest of environments around the world. With extensive experience building corporate brands and reputations, and fostering transparent relationships with investors, consumers and other stakeholders, KCSA will work with Vislink management to develop a robust communications platform that differentiates Vislink from its competitors, showcases its superior suite of communications products and solutions, and reinforces Vislink’s investment thesis laser-focused on innovation in remote video production and next-gen camera, IP-connected and HVEC compression technologies.“With recent product innovations and a financial turnaround initiated through strategic cost-cutting measures and an overhaul of key processes, we are positively positioned for long term growth and a healthy pipeline of large contract opportunities in 2021,” said Carleton Miller, CEO of Vislink Technologies. “KCSA will empower Vislink to communicate our growth and success as a wireless communications leader, as well as provide the transparency our investors and the marketplace deserve. From capturing and displaying events that occur in the blink of an eye to supporting global search and rescue missions, we are committed to stakeholder confidence in their selection of the most advanced wireless communications solutions suited for any need.''“Having operated with limited capital for a number of years, Vislink is now ready to embark on a major business transformation. The Company is developing an innovative and effective strategy to drive both organic and inorganic growth, and investors should take notice,” added Lewis Goldberg, Managing Partner at KCSA. “We are committed to informing the markets about Vislink’s unique investment thesis, technology and leading edge products that are the standard bearers for the live production, military & government and satellite sectors.”For more information, please visit www.kcsa.com.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 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.About KCSA Strategic CommunicationsKCSA is a fully integrated strategic communications agency specializing in public relations, investor relations and social media, with expertise in financial services, technology and healthcare. Since 1969, the firm has demonstrated strategic thinking and program execution that drives results for clients in the ever-changing communications and digital landscape. The firm's clients are its best references. For more information, please visit www.kcsa.com.Investor Relations: Phil Carlson KCSA Strategic Communications Vislink@kcsa.comMedia Contacts: Anthony Feldman / Jenny Robles KCSA Strategic Communications Vislink@kcsa.com

  • GlobeNewswire

    Vislink Technologies Reports Q2 2020 Financial Results, Completes First Phase of Turnaround

    Revenues Increased 11% and EBITDA Improved $3.5 Million Over Q1 2020, Best Financial Performance Since Company IPOHACKETTSTOWN, NJ, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (“Vislink” or the “Company”) (Nasdaq: VISL) announced its results for the second quarter ended June 30, 2020. Company management will host a live webcast on Friday, August 14, 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 June 30, 2020 were $6 million, compared to $5.4 million in the first quarter of 2020 and $7.4 million for the three months ended June 30, 2019. * EBITDA (earnings before interest, taxes depreciation and amortization) was a negative $421,000 for the three months ended June 30, 2020, compared to a negative $3.9 million for the three months ended March 31, 2020 and a negative $1.9 million for the three months ended June 30, 2019. * Ended the second quarter 2020 with $5.1 million in cash, compared to $2.5 million at the end of the first quarter of 2020. * Gross margins were 59.6% of revenue in the second quarter of 2020, compared to 47% in the first quarter of 2020 and 52.1% in the second quarter of 2019. * Net loss attributable to common shareholders was $778,000, or $(0.05) per share in the second quarter of 2020 compared to a net loss of $4.4 million, or $(0.09) per share in the first quarter of 2020 and a net loss of $3.6 million, or $(10.70) per share in the second quarter of 2019. * Net loss attributable to common shareholders was $5.2 million, or $(0.45) per share for the six months ended June 30, 2020 compared to a net loss of $6.7 million, or $(20.44) per share for the six months ended June 30, 2019.Second Quarter Business Highlights * Right-sized the business through a focus on cost reduction and conservation of cash. * Addressed supply chain issues to improve efficiency and increase liquidity. * Created four solution areas: Live Event Production, Military/Government, Satellite Communications and Managed Services. * Re-energized the Satcom solutions vertical. * Realigned sales teams in line with target market priorities. * Re-prioritized research and development to maintain new product pipeline and technical innovation. * Reconstituted senior leadership and board of directors.“In the second quarter, despite a challenging business environment caused by the effects of the COVID-19 pandemic, we are pleased to report that our revenues increased by 11%, our net loss narrowed and EBITDA improved by $3.5 million compared to the first quarter of 2020,” said Carleton Miller, CEO of Vislink Technologies. “We built on the strong actions we took in the previous quarter to make significant progress in our turnaround, of which the first phase is now complete. By adhering to the cost reduction plan that we previously instituted, in addition to our ongoing focus on fiscal discipline, we were able to realize significant improvements in our operations.”Mr. Miller continued, “We have now rightsized the organization across our four solution areas of Live Event Production, Military/Government, Satellite Communications and Managed Services, and we continue to see opportunities across these areas that will drive top line growth for us in the future. With our financial and operational foundations stabilized, we are excited to embark on the second phase of our operational turnaround, which will include increased operational efficiencies and capital allocation to growth opportunities.”Financial Results Webcast DetailsOn Friday, August 14, 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/visl200814.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, 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 Six Months Ended    June 30,  June 30,    2020  2019  2020  2019  Revenue $6,008  $7,352  $11,360  $15,558                    Cost of revenue and operating expenses                 Cost of components and personnel  2,427   3,516   5,248   7,643  Inventory valuation adjustments  24   42   49   89  General and administrative expenses  3,321   5,550   9,521   10,733  Research and development expenses  559   866   1,215   1,792  Gain on lease termination  —   —   (21)  —  Amortization and depreciation  334   588   757   1,177  Total cost of revenue and operating expenses  6,665   10,562   16,769   21,434  Loss from operations  (657)  (3,210)  (5,409)  (5,876)                   Other income (expense)                 Changes in fair value of derivative liabilities  (98)  747   (81)  673  Loss on conversion of debentures  —   (48)  —   (48) Gain on settlement of related party obligations  —   —   331   —  Interest expense, net  (23)  (1,064)  (49)  (1,414) Total other income (expense)  (121)  (365)  201   (789)                   Net loss $(778) $(3,575) $(5,208) $(6,665)                   Basic and diluted loss per share $(0.05) $(10.70) $(0.45) $(20.44) Weighted average number of shares outstanding:                 Basic and diluted  14,805   334   11,460   326  Comprehensive loss:                 Net loss $(778) $(3,575) $(5,208) $(6,665) Unrealized gain (loss) on currency translation adjustment  (28)  34   249   1  Comprehensive loss $(806) $(3,541) $(4,959) $(6,664) 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)  June 30,  December 31,    2020  2019    (unaudited)     ASSETS         Current assets         Cash $5,065  $1,737  Accounts receivable, net  4,479   6,714  Inventories, net  8,180   7,674  Prepaid expenses and other current assets  874   660  Total current assets  18,598   16,785  Right of use assets, operating leases  1,654   1,925  Property and equipment, net  1,846   1,972  Intangible assets, net  2,391   2,922  Total assets $24,489  $23,604  LIABILITIES AND STOCKHOLDERS’ EQUITY         Current liabilities         Accounts payable $2,789  $6,784  Accrued expenses  1,961   1,912  Notes payable  412   339  Current portion of PPP loan  424   —  Operating lease obligations, current  334   821  Due to related parties  —   505  Customer deposits and deferred revenue  1,323   2,821  Derivative liabilities  111   30  Total current liabilities  7,354   13,212  Long-term portion of PPP loan  744   —  Operating lease obligations, net of current portion  1,265   1,163  Total liabilities  9,363   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 June 30, 2020, and December 31, 2019; 0 shares issued and outstanding as of June 30, 2020, and December 31, 2019  —   —  Common stock – $0.00001 par value per share, 100,000,000 shares authorized, 16,103,613 and 3,594,548 shares issued and 16,100,954 and 3,591,889 outstanding as of June 30, 2020 and December 31, 2019, respectively  —   —  Additional paid-in capital  272,727   261,871  Accumulated other comprehensive income  456   207  Treasury stock, at cost – 2,659 shares at June 30, 2020, and December 31, 2019, respectively  (277)  (277) Accumulated deficit  (257,780)  (252,572) Total stockholders’ equity  15,126   9,229  Total liabilities and stockholders’ equity $24,489  $23,604  The accompanying notes are an integral part of these condensed consolidated financial statements.Reconciliation of GAAP to Non-GAAP ResultsVISLINK TECHNOLOGIES, INC. RECONCILIATION OF GAAP to NON-GAAP RESULTS QUARTER ENDING JUNE 30, 2020 (IN THOUSANDS)Reconciliation of net income to EBITDA    Net loss$    (778)  interest expense   (23)  Amortization and depreciation   334   EBITDA$   (421)

  • GlobeNewswire

    VISLINK TECHNOLOGIES, INC. Second Quarter 2020 Earnings Update

    HACKETTSTOWN, NJ, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (NASDAQ: VISL) (the “Company”) plans to release the results of its second quarter (ended June 30, 2020) on Thursday, August 13, 2020. On Friday August 14, 2020, Vislink’s CEO, Carleton Miller, and CFO, Michael Bond, will host a webcast at approximately 10:00 a.m. ET to give the Q2 earnings update. This webcast will be live at https://services.choruscall.com/links/visl200814.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