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Spectra7 Announces First Quarter 2019 Financial Results

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Revenue up 56% Year-over-Year; Virtual Reality Revenues Stabilized
and Strong Momentum in Data Center Market

SAN JOSE, Calif.–(BUSINESS WIRE)–(TSX:SEV) Spectra7 Microsystems Inc. (“Spectra7” or the “Company”), a
leading provider of high-performance analog semiconductor products for
broadband connectivity markets, today announced its unaudited financial
results for the three month period ended March 31, 2019. A copy of the
unaudited consolidated financial statements prepared in accordance with
International Financial Reporting Standards and the corresponding
management’s discussion and analysis (“MD&A”) for the quarter ended
March 31, 2019, can be found under the Company’s profile at www.sedar.com.
Unless otherwise indicated, all amounts in this release are expressed in
US dollars.

Q1 2019 Financial Summary

  • Revenue was approximately $1.4 million, nearly flat from the prior
    quarter and representing a 56% increase over the same period in the
    prior year;
  • Gross margin1 as a percentage of revenue was 55%, an
    approximately 2% increase from the prior quarter and flat from the
    same period in the prior year;
  • Non-IFRS operating expenses were $2.8 million, representing a slight
    increase from $2.6 million in the prior quarter and down approximately
    $0.4 million or 13% from the same period in the prior year; and
  • EBITDA2 loss of approximately $1.7 million compared to a
    loss of approximately $1.5 million in the prior quarter and a $0.7
    million improvement from the same period in the prior year due to
    strong operating expense management.

CEO COMMENTARY

“I am pleased with our Q1 performance that we had pre-announced,
particularly given that the first quarter is seasonally a slow quarter
in our industry. We continue to drive strong design win traction in the
data center market while maintaining a majority share of the tethered VR
market with industry-leading OEMs,” said Spectra7 CEO Raouf Halim. “We
continue to anticipate the production ramp of our data center active
copper cable solutions in the second half of the year with a major China
hyperscale operator and believe that we are track to achieve significant
revenue growth.”

Quarterly Highlights

  • Spectra7 continued to experience strong traction with its data center
    solutions and announced ten new customer design-ins in Q1 2019, for a
    total of 55 to date;
  • A major China hyperscale data center Operator is on track to deploy
    active copper cables enabled by Spectra7 technology starting in the
    second half of 2019;
  • A major Ethernet Switch OEM has chosen to develop their own branded
    active copper cables with Spectra7 embedded integrated circuits for
    production shipments beginning this year;
  • The Company announced that it now has key partnerships with 4 of the
    top 5 global cable data center interconnect companies; and
  • The Company showcased 25/100/200/400 Gbps data center interconnects at
    DesignCon and OFC in the first quarter including demonstrations with
    leading system OEMs.

Capital Raise Update

The Company continues to evaluate various capital raise options,
including but not limited to, a loan based on its valuable patent
portfolio and is currently evaluating multiple term sheets for an
asset-based loan. The Company is looking to bolster its capital
structure to support the ramp of its innovative, low power GaugeChanger™ active
copper cable interconnect technology for the growing hyperscale Data
Center market and expects to complete its capital raise by or before the
end of the second quarter.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high performance analog semiconductor
company delivering unprecedented bandwidth, speed and resolution to
enable disruptive industrial design for leading electronics
manufacturers in virtual reality, augmented reality, mixed reality, data
centers and other connectivity markets. Spectra7 is based in San Jose,
California with design centers in Cork, Ireland and Little Rock,
Arkansas. For more information, please visit www.spectra7.com.

CAUTIONARY NOTES

Certain statements contained in this press release constitute
“forward-looking statements”. All statements other than statements of
historical fact contained in this press release, including, without
limitation, those regarding the Company’s future financial position and
results of operations, outlook, revenue growth, revenue in the 2019
financial year, deployment of the Company’s technology by its customers,
timing of the Company’s capital raising activities, strategy, proposed
acquisitions, plans, objectives, goals and targets, and any statements
preceded by, followed by or that include the words “believe”, “expect”,
“aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”,
“anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”,
“should” or similar expressions or the negative thereof, are
forward-looking statements. These statements are not historical facts
but instead represent only the Company’s expectations, estimates and
projections regarding future events. These statements are not guarantees
of future performance and involve assumptions, risks and uncertainties
that are difficult to predict. Therefore, actual results may differ
materially from what is expressed, implied or forecasted in such
forward-looking statements. Additional factors that could cause actual
results, performance or achievements to differ materially include, but
are not limited to the risk factors discussed in the Company’s annual
MD&A for the year ended December 31, 2018. Management provides
forward-looking statements because it believes they provide useful
information to investors when considering their investment objectives
and cautions investors not to place undue reliance on forward-looking
information. Consequently, all of the forward-looking statements made in
this press release are qualified by these cautionary statements and
other cautionary statements or factors contained herein, and there can
be no assurance that the actual results or developments will be realized
or, even if substantially realized, that they will have the expected
consequences to, or effects on, the Company. These forward-looking
statements are made as of the date of this press release and the Company
assumes no obligation to update or revise them to reflect subsequent
information, events or circumstances or otherwise, except as required by
law.

1 Gross margin is a non-GAAP measure. Refer to “Revenue and
Gross Margin” in the Company’s annual MD&A for the year ended December
31, 2018 for reconciliation to measures reported in the Company’s
financial statements.

2 EBITDA or earnings before interest, tax, depreciation, and
amortization is a non-GAAP measure. EBITDA excludes share-based
compensation, amortization, depreciation, interest, and tax expenses.

Contacts

For more information, please contact:

Spectra7 Microsystems Inc.
Sean Peasgood
Investor Relations
647-503-1034
ir@spectra7.com

Spectra7 Microsystems Inc.
Darren Ma
Chief Financial Officer
669-284-3170
pr@spectra7.com

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Business Wire

North America $32.73 Billion Home Automation Systems Market to 2025 by System Component, Software Algorithm, Product, Service Type, Technology – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “North America Home Automation Systems Market by System Component, Software Algorithm, Product, Service Type, Technology, and Country 2014-2025: Growth Opportunity and Business Strategy” report has been added to ResearchAndMarkets.com’s offering.

North America Home Automation Systems Market Predicted to Reach $32.73 billion in 2025

The report provides historical market data for 2014-2017, revenue estimates for 2018, and forecasts from 2019 till 2025.

The trend and outlook of the North America market is forecast in optimistic, balanced, and conservative view. The balanced (most likely) projection is used to quantify North America home automation systems market in every aspect of the classification from perspectives of System Component, Software Algorithm, Product, Service Type, Technology, and Country.

In-depth qualitative analyses include identification and investigation of the following aspects:

  • Market Structure
  • Growth Drivers
  • Restraints and Challenges
  • Emerging Product Trends & Market Opportunities
  • Porter’s Five Forces

The report also covers the current competitive scenario and the predicted manufacture trend; and profiles key vendors including market leaders and important emerging players.

Key Topics Covered:

1 Introduction

1.1 Industry Definition and Research Scope

1.2 Research Methodology

1.3 Executive Summary

2 Market Overview and Qualitative Analysis

2.1 Market Size and Forecast

2.2 Major Growth Drivers

2.3 Market Restraints and Challenges

2.4 Emerging Opportunities and Market Trends

2.5 Porter’s Five Forces Analysis

3 Segmentation of North America Market by System Component

3.1 Market Overview by System Component

3.2 North America Hardware Market for Home Automation Systems 2014-2025

3.3 North America Software Market for Home Automation Systems 2014-2025

3.4 North America Service Market for Home Automation Systems 2014-2025

4 Segmentation of North America Market by Software Algorithm

4.1 Market Overview by Software Algorithm

4.2 North America Proactive Home Automation Systems Market 2014-2025

4.3 North America Behavioral Home Automation Systems Market 2014-2025

5 Segmentation of North America Market by Product

5.1 Market Overview by Product

5.2 North America Home Automation Systems Market in HVAC Control and Energy Management 2014-2025

5.3 North America Home Automation Systems Market in Security and Access Control 2014-2025

5.4 North America Home Automation Systems Market in Entertainment Control 2014-2025

5.5 North America Home Automation Systems Market in Lighting Control 2014-2025

5.6 North America Home Automation Systems Market in Other Controls 2014-2025

6 Segmentation of North America Market by Service Type

6.1 Market Overview by Service Type

6.2 North America Home Automation Systems Market in Managed Services Segment 2014-2025

6.3 North America Home Automation Systems Market in Mainstream Services Segment 2014-2025

6.4 North America Home Automation Systems Market in Do-It-Yourself (DIY) Segment 2014-2025

6.5 North America Home Automation Systems Market in Luxury Services Segment 2014-2025

7 Segmentation of North America Market by Technology

7.1 Market Overview by Technology

7.2 North America Market of Home Automation Systems with Wired Technology 2014-2025

7.3 North America Market of Home Automation Systems with Wireless Communication Technologies 2014-2025

7.4 North America Market of Home Automation Systems with Network Technologies 2014-2025

7.5 North America Market of Home Automation Systems with Power-line Technology 2014-2025

7.6 North America Market of Home Automation Systems with Other Technologies 2014-2025

8 North America Market 2014-2025 by Country

8.1 Overview of North America Market

8.2 U.S. Market

8.3 Canadian Market

9 Competitive Landscape

9.1 Overview of Key Vendors

9.2 Company Profiles

10 Investing in North America Market: Risk Assessment and Management

10.1 Risk Evaluation of North America Market

10.2 Critical Success Factors (CSFs)

Companies Mentioned

  • ABB Ltd.
  • Amx LLC (Harman)
  • Control4 Corporation
  • Crestron Electronics, Inc.
  • Honeywell International Inc.
  • Ingersoll-Rand PLC
  • Johnson Controls, Inc.
  • Legrand
  • Leviton Manufacturing Company, Inc.
  • Lutron
  • Savant Systems LLC.
  • Schneider Electric SE
  • Siemens AG
  • Zigbee Alliance

For more information about this report visit https://www.researchandmarkets.com/r/j8q3l4

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics: Home Networks, Internet of Things and M2M

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Business Wire

North America Mobile Advertising Market is Estimated to Reach $103.02 Billion in 2025, Representing a 2019-2025 CAGR of 17.22% – ResearchAndMarkets.com

Business Wire

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DUBLIN–(BUSINESS WIRE)–The “North America Mobile Advertising Market by Solution Format, Advertising Type, Industry Vertical, Mobile Device, and Country 2014-2025: Growth Opportunity and Business Strategy” report has been added to ResearchAndMarkets.com’s offering.

North America Mobile Advertising Market is Estimated to Reach $103.02 Billion in 2025, Representing a 2019-2025 CAGR of 17.22%

The report provides historical market data for 2014-2017, revenue estimates for 2018, and forecasts from 2019 till 2025.

The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view. The balanced (most likely) projection is used to quantify North America mobile advertising market in every aspect of the classification from perspectives of Solution Format, Advertising Type, Industry Vertical, Mobile Device, and Country.

The report also covers the current competitive scenario and the predicted industry trend; and profiles key providers including market leaders and important emerging players.

Specifically, potential risks associated with investing in North America mobile advertising market are assayed quantitatively and qualitatively through the Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.

Key Topics Covered:

1 Introduction

1.1 Industry Definition and Research Scope

1.2 Research Methodology

1.3 Executive Summary

2 Market Overview and Qualitative Analysis

2.1 Market Size and Forecast

2.2 Major Growth Drivers

2.3 Market Restraints and Challenges

2.4 Emerging Opportunities and Market Trends

2.5 Porter’s Five Forces Analysis

3 Segmentation of North America Market by Solution Format

3.1 Market Overview by Solution Format

3.2 North America Market of Mobile Advertising via Advertisement Campaign Solutions 2014-2025

3.3 North America Market of Mobile Advertising via Reporting & Analytics Solutions 2014-2025

3.4 North America Market of Mobile Advertising via Content Delivery Solutions 2014-2025

3.5 North America Market of Mobile Advertising via Integrated Solutions 2014-2025

3.6 North America Market of Mobile Advertising via Mobile Proximity Solutions 2014-2025

3.7 North America Market of Mobile Advertising via Other Solutions 2014-2025

4 Segmentation of North America Market by Advertising Type

4.1 Market Overview by Advertising Type

4.2 North America Mobile Search Advertising Market 2014-2025

4.3 North America Mobile Display Advertising Market 2014-2025

4.4 North America Mobile In-App Advertising Market 2014-2025

4.5 North America Mobile In-Game Advertising Market 2014-2025

4.6 North America Mobile Websites Advertising Market 2014-2025

4.7 North America Mobile Messaging Advertising Market 2014-2025

4.8 North America Mobile Video Advertising Market 2014-2025

4.9 North America Market of Other Mobile Advertising Types 2014-2025

5 Segmentation of North America Market by Industry Vertical

5.1 Market Overview by Industry Vertical

5.2 North America Mobile Advertising Market for Media and Entertainment 2014-2025

5.3 North America Mobile Advertising Market for Consumer Goods & Retail Industry 2014-2025

5.4 North America Mobile Advertising Market for Banking, Financial Service & Insurance (BFSI) 2014-2025

5.5 North America Mobile Advertising Market for Telecommunication IT Sector 2014-2025

5.6 North America Mobile Advertising Market for Travel Industry 2014-2025

5.7 North America Mobile Advertising Market for Healthcare Sector 2014-2025

5.8 North America Mobile Advertising Market for Manufacturing & Supply Chain 2014-2025

5.9 North America Mobile Advertising Market for Transportation and Logistics 2014-2025

5.10 North America Mobile Advertising Market for Energy, Power, and Utilities 2014-2025

5.11 North America Mobile Advertising Market for Other Industries 2014-2025

6 Segmentation of North America Market by Mobile Device

6.1 Market Overview by Mobile Device

6.2 North America Mobile Advertising Market on Smartphones 2014-2025

6.3 North America Mobile Advertising Market on Tablets 2014-2025

6.4 North America Mobile Advertising Market on Laptops & Notebooks 2014-2025

6.4 North America Mobile Advertising Market on Other Mobile Devices 2014-2025

7 North America Market 2014-2025 by Country

7.1 Overview of North America Market

7.2 U.S. Market

7.3 Canadian Market

8 Competitive Landscape

8.1 Overview of Key Vendors

8.2 Company Profiles

9 Investing in North America Market: Risk Assessment and Management

9.1 Risk Evaluation of North America Market

9.2 Critical Success Factors (CSFs)

Companies Mentioned

  • AOL
  • AdColony, Inc.
  • Apple Inc.
  • Applovin Corporation
  • Avazu Inc.
  • Chartboost Inc.
  • Digital Turbine, Inc.
  • Facebook Inc.
  • Flurry Inc.
  • Flytxt
  • GoWide
  • Google, Inc.
  • GumGum Inc
  • Inmobi
  • Matomy Media Group Ltd.
  • Microsoft Corporation
  • Millenial Media
  • MoPub Inc.
  • Nokia
  • PassionTeck
  • SAP SE
  • Smaato Inc.
  • Tune, Inc.
  • Yahoo! Inc.
  • Yeahmobi

For more information about this report visit https://www.researchandmarkets.com/r/ttydk0

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics: Tablets and E-Readers

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Business Wire

NativeScript 6.0 Drives Developer Experience and Extensibility as Well as Performance and Stability

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Now supporting Angular 8 and Vue.js, NativeScript enables developers to reuse 70% of the application code written for a web application during the mobile app development process

BEDFORD, Mass.–(BUSINESS WIRE)–Progress (NASDAQ: PRGS), the leading provider of application development and digital experience technologies, today announced the latest advancements for NativeScript®, the open source framework for building truly native mobile apps with Angular, Vue.js, TypeScript and JavaScript. With a focus on developer experience, extensibility, performance and stability, the NativeScript 6.0 framework now offers an abundance of new advancements including support for the latest frameworks, new themes and faster build speeds.

“The latest release of NativeScript brings some amazing features for our enterprise customers,” said Dmitri Tcherevik, CTO, Progress. “Now developers will be able to ship updates faster, make even smaller app binaries, and the fastest delivery of cross-platform apps that are of the highest quality, providing the best user experience as demanded by our discerning users.”

Developer Experience and Extensibility

NativeScript has long supported 100% code sharing across iOS and Android. With NativeScript 6.0 the amount of code reuse between web and mobile has increased. NativeScript can achieve 70% code reuse across web and mobile, including support for PWAs. This shortens development and testing cycles for both web and mobile apps in production while ensuring consistency across digital channels. It also lowers the cost of development and maintenance for deployed applications.

In addition, NativeScript provides:

  • Support for Angular 8 and the new rendering engine, Ivy, for better files, compilation time and application performance
  • Full support for Vue.js, including feature parity for new functionality between Vue.js, Angular and Core frameworks as well as the use of all plugins developed for NativeScript. Mission critical support is available from Progress to complement the free support channels
  • Anew dark theme to coincide with the iOS dark mode that will be available with iOS 13
  • The ability to consume third-party libraries directly in iOS
  • The public release of the Hot Module Replacement which includes support for SASS files and script changes in Vue.js, support for Angular projects out of the box, as well as acknowledgment of file operations like adding or deleting files from a project’s structure.
  • Support for the new Android X library, enabling use of the latest features of the newest Android versions, when shipped

Performance and Stability

As developers continue to be tasked with more work under tighter deadlines, NativeScript eases this burden with greater performance and stability. NativeScript 6.0 now enables

  • 30% faster builds for Android and 10% faster startup time for iOS
  • “markingMode: none” is now an officially supported option of the Android runtime
  • New flexible layouts, like TabView, give users the ability to make more intricate layouts with less code
  • Faster go-to-market for new app versions because of a streamlined store approval process
  • Complete integration with the WebPack framework for all NativeScript apps ensuring the best file size and performance for any chosen architecture

Progress complements the open source version of NativeScript with several commercial models. NativeScript plays a key role in Progress® Kinvey®, a cloud-native app dev platform used to build omni-channel experiences that include native mobile apps. Progress also provides paid support plans, while training and professional services are delivered through a partner network.

NativeScript 6.0 is available today. For more information go to www.nativescript.org or to learn more about the market leading capabilities of NativeScript, read the “2019 Gartner Magic Quadrant for Multiexperience Development Platforms,” in which Progress is listed as a Leader.

About Progress

Progress (NASDAQ: PRGS) offers the leading platform for developing and deploying strategic business applications. We enable customers and partners to deliver modern, high-impact digital experiences with a fraction of the effort, time and cost. Progress offers powerful tools for easily building adaptive user experiences across any type of device or touchpoint, award-winning machine learning that enables cognitive capabilities to be a part of any application, the flexibility of a serverless cloud to deploy modern apps, business rules, web content management, plus leading data connectivity technology. Over 1,700 independent software vendors, 100,000 enterprise customers, and two million developers rely on Progress to power their applications. Learn about Progress at www.progress.com or +1-800-477-6473.

Progress, Kinvey, and NativeScript are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the US and other countries. Any other trademarks contained herein are the property of their respective owners.

Contacts

Kim Baker

Progress

+1 888-365-2779

pr@progress.com

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