Beamr Imaging reports deals worth $1.16M in revenues in Q4 ‘so far’

Beamr Imaging (BMR) issued a Letter to Shareholders from Sharon Carmel, CEO which read in part, “In 2024, Beamr has strengthened its market presence by participating in 7 leading trade shows and conferences during the year so far, including Mile High Video, GTC, NAB, SIGGRAPH, Oracle CloudWorld, IBC and Demuxed. During these events, Beamr executives delivered high-impact presentations to hundreds of industry professionals, showcasing our innovative technology and expanding SaaS solutions. Furthermore, we held over 100 face-to-face meetings with existing and prospective customers. These efforts focused on differentiating Beamr in the video market and highlighting the value of our high-quality, high-efficiency, GPU-accelerated SaaS offerings to key and prospective customers in emerging markets, such as Media & Entertainment, User-Generated content and Internet-of-Things. We achieved a significant milestone with our first cloud sale, demonstrating that all of Beamr SaaS’ components – ranging from onboarding and connecting the customers’ video repositories to billing – are functioning as designed. Currently, we are working on dozens of new leads and deals in our sales funnel, which we are aiming to convert into signed customers in the end of 2024 and leading into 2025. Though we still cannot give projections, we are encouraged by the substantial interest generated since the launch of Beamr Cloud in February 2024, and we are pleased with the progress we’ve made so far…During the period of nine months ended September 30, 2024, we generated approximately $1.5M in revenues, compared with $1.43M in the nine months ended September 30, 2023, representing a 5% increase, and as of September 30, 2024, we had approximately $16.6M of cash and cash equivalents. Historically Q4 is a relatively strong quarter with 2024 being no exception. So far in Q4-2024, we have deals worth approximately $1.16M in revenues. We can also share that we have been successful in increasing our license fees as we look into 2025.”