$17 billion in implementation costs estimated during the first three years with $2 billion in additional annual recurring costs after the initial stage TUCSON, Ariz., April 9, 2024 /PRNewswire/ -- AudioEye, Inc. (Nasdaq: AEYE) ("AudioEye" or the "Company"), the industry-leading enterprise SaaS accessibility company, announces its support of the Department of Justice's latest regulations under Title II of the Americans with Disabilities Act (ADA), as outlined in the approved rule announced April 8, 2024. The ...

TUCSON, Ariz., April 8, 2024 /PRNewswire/ -- AudioEye, Inc. (Nasdaq: AEYE) ("AudioEye" or the "Company"), the industry-leading enterprise SaaS accessibility company, will hold a conference call on Tuesday, April 23, 2024 at 4:30 p.m. Eastern Time to discuss its financial results for the first quarter ended March 31, 2024. Financial results will be issued in a press release prior to the call. AudioEye management will host the conference call, followed by a question and answer period. Date: Tuesday, April 23, ...

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AudioEye (AEYE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.AudioEye is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zac ...

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1]. Group 1: Company Overview - AudioEye (AEYE) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [1]. - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [2]. Group 2: Performance Metrics - AEYE shares have increased by 8.02% over the past week, while the Zacks Internet - Software industry has declined by 1.61% during the same period [3]. - Over the past month, AEYE's price change is 79.96%, significantly outperforming the industry's 2.24% [3]. - In the last quarter, AEYE shares have surged by 98.24%, and over the past year, they have gained 74.85%, compared to the S&P 500's increases of 12.01% and 33.87%, respectively [3]. Group 3: Trading Volume - AEYE's average 20-day trading volume is 101,493 shares, which serves as a bullish indicator when combined with rising stock prices [3]. Group 4: Earnings Outlook - In the past two months, one earnings estimate for AEYE has been revised upward, while none have been revised downward, leading to an increase in the consensus estimate from $0.13 to $0.33 [4]. - For the next fiscal year, one estimate has also moved upwards with no downward revisions [4]. Group 5: Conclusion - Given the strong performance metrics and positive earnings outlook, AEYE is classified as a 2 (Buy) stock with a Momentum Score of A, making it a potential candidate for near-term investment [5].

On Wall Street, you need any edge you can get, especially when it comes to deciphering which stocks to sell (and when). Some may turn to advanced solutions such as high-frequency trading algorithms. Others turn to oddball ideas, such as deciphering magazine covers.It’s not as irrational as it may initially sound. For example, sports fans know about the Madden video game cover curse. Basically, NFL stars that are celebrated on the cover of the popular gaming title encounter an injury or some other misfortune ...

One stock that might be an intriguing choice for investors right now is AudioEye, Inc. (AEYE) . This is because this security in the Internet - Software space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Internet ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:AudioEye, Inc. (AEYE) is a content distribution software company. The Zacks Consensus Estimate for its current year earnings has been revised 33.3% downward over the last 60 days.Aviat Networks, Inc. (AVNW) is a microwave and wireless networking solutions provider. The Zacks Consensus Estimate for its current year earnings has been revised 7.4% downward over the last 60 days.Stronghold Digital Mining, Inc. (SDIG) is a crypto asset min ...

AudioEye, Inc. (NASDAQ:AEYE) Q4 2023 Earnings Conference Call February 6, 2024 4:30 PM ET Company Participants David Moradi - CEO Kelly Georgevich - CFO Conference Call Participants George Sutton - Craig-Hallum Zach Cummins - B. Riley FBR Scott Buck - H.C. Wainwright Operator Good afternoon and welcome to AudioEye's Fourth Quarter and Full Year 2023 Earnings Conference Call. Joining us today on today's call are AudioEye's CEO, Mr. David Moradi; and CFO, Ms. Kelly Georgevich. Following their remarks, we will ...

Exhibit 99.1 AudioEye Reports Record Fourth Quarter and Full Year 2023 Results Thirty-Second Consecutive Period of Record Revenue TUCSON, Ariz. — March 6, 2024 — AudioEye, Inc. (NASDAQ: AEYE) ("AudioEye" or the "Company"), the industry-leading enterprise SaaS accessibility company, reported financial results for the fourth quarter and full year ended December 31, 2023. "I want to thank our employees for all their hard work in dramatically improving our efficiency, including revenue per employee, gross margi ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) AudioEye, Inc. offers SaaS digital accessibility solutions, leveraging AI and human expertise to ensure website compliance through Enterprise and Partner channels - AudioEye's business model focuses on **SaaS subscriptions** for its digital accessibility platform, combining **AI-driven automation** and **human expertise** for WCAG compliance[15](index=15&type=chunk)[16](index=16&type=chunk)[17](index=17&type=chunk) - The company operates through two primary sales channels: **Enterprise** for large organizations and **Partner and Marketplace** for small and medium-sized businesses[24](index=24&type=chunk) - A single major customer and its affiliates contributed approximately **17% of total revenue** in both 2023 and 2022, indicating significant customer concentration[25](index=25&type=chunk) - The company's intellectual property portfolio includes **22 issued U.S. patents**, considered a key competitive strength[26](index=26&type=chunk) - As of December 31, 2023, the company employed **114 full-time employees** and utilizes independent contractors as needed[38](index=38&type=chunk)[39](index=39&type=chunk) [Risk Factors](index=13&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including historical net losses, capital needs, loan covenants, intense competition, and cybersecurity - The company has a history of significant losses, reporting a **net loss of $5.87 million** in 2023 and an **accumulated deficit of $89.48 million**[43](index=43&type=chunk) - A **$7.0 million loan** obtained in November 2023 includes financial covenants such as maintaining **$2.0 million minimum liquidity** and meeting monthly recurring revenue levels[46](index=46&type=chunk)[47](index=47&type=chunk) - The company faces intense competition from larger, better-financed entities, established consultants, and emerging AI technologies[58](index=58&type=chunk)[59](index=59&type=chunk) - The uncertain and evolving legal framework for website accessibility could impact product demand or require offering changes[74](index=74&type=chunk) - As of December 31, 2023, four stockholders, including key executives, beneficially owned **over 45% of voting power**, indicating significant ownership concentration[118](index=118&type=chunk) [Cybersecurity](index=36&type=section&id=Item%201C.%20Cybersecurity) AudioEye maintains a cybersecurity risk management program with internal audits, penetration testing, and an incident response team - The company's cybersecurity strategy includes proactive reviews, **external penetration testing**, employee training, and data protection law monitoring[127](index=127&type=chunk) - The **Audit Committee** oversees cyber threat risks, receiving regular updates from senior management[130](index=130&type=chunk) - An **incident response team**, including key officers, manages and remediates cybersecurity threats[130](index=130&type=chunk)[131](index=131&type=chunk) [Properties](index=38&type=section&id=Item%202.%20Properties) The company's principal office is a leased space in Tucson, Arizona, expiring October 2024, with additional leased and shared offices - The main corporate office in Tucson, Arizona, is under a lease agreement expiring in **October 2024**[134](index=134&type=chunk) [Legal Proceedings](index=38&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in routine legal proceedings, but management does not anticipate a material adverse financial impact - The company does not anticipate any material financial impact from routine legal proceedings beyond existing provisions[136](index=136&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=38&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) AudioEye's common stock is listed on Nasdaq, with a $5 million share repurchase program authorized, and no dividends paid or anticipated - In November 2023, the Board approved a new **$5 million share repurchase program** valid through December 31, 2025[141](index=141&type=chunk) Share Repurchase Activity (Q4 2023, in thousands) | Period | Total Shares Purchased | Average Price Paid per Share | Remaining Authorization | | :--- | :--- | :--- | :--- | | **Employee Transactions** | 21,096 | $4.49 | N/A | | **Share Repurchase Program** | 248,205 | $4.52 | $3,878 | - The company has not paid dividends since inception and plans to retain future earnings for business development[145](index=145&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=40&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) AudioEye's 2023 revenue grew 5% to $31.3 million, with reduced operating and net losses, and positive Adjusted EBITDA - **Annual Recurring Revenue (ARR)** grew **7%** to **$31.2 million** as of December 31, 2023, driven by the Partner and Marketplace channel[148](index=148&type=chunk)[173](index=173&type=chunk) Consolidated Statements of Operations (in thousands) | Metric | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | **Revenue** | **$31,316** | **$29,913** | **5%** | | Gross Profit | $24,342 | $22,694 | 7% | | Total Operating Expenses | $30,307 | $33,123 | (9)% | | **Operating Loss** | **$(5,965)** | **$(10,429)** | **(43)%** | | **Net Loss** | **$(5,872)** | **$(10,433)** | **(44)%** | Revenue by Channel (in thousands) | Channel | 2023 | 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Partner and Marketplace | $18,027 | $15,972 | 13% | | Enterprise | $13,289 | $13,941 | (5)% | | **Total Revenues** | **$31,316** | **$29,913** | **5%** | Non-GAAP Adjusted EBITDA Reconciliation (in thousands) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Net loss (GAAP) | $(5,872) | $(10,433) | | **Adjusted EBITDA** | **$1,340** | **$(946)** | | Adjusted EBITDA margin | 4% | (3)% | - Cash flow from operating activities significantly improved to a source of **$0.32 million** in 2023 from a use of **$(5.00) million** in 2022[187](index=187&type=chunk) - The company secured a **$7.0 million term loan** in November 2023, maturing in November 2026, increasing year-end cash to **$9.2 million**[182](index=182&type=chunk)[189](index=189&type=chunk) [Financial Statements and Supplementary Data](index=53&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents AudioEye's consolidated financial statements, detailing balance sheet, income statement, and cash flow performance for 2023 and 2022 [Consolidated Balance Sheets](index=68&type=section&id=Consolidated%20Balance%20Sheets) As of December 31, 2023, total assets increased to $25.5 million, driven by cash from a new term loan, while liabilities rose and equity decreased Key Balance Sheet Items (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash | $9,236 | $6,904 | | Total Current Assets | $14,776 | $12,966 | | Goodwill & Intangibles, net | $9,784 | $10,042 | | **Total Assets** | **$25,495** | **$24,428** | | Total Current Liabilities | $11,529 | $11,062 | | Term loan, net | $6,727 | $— | | **Total Liabilities** | **$18,788** | **$13,839** | | **Total Stockholders' Equity** | **$6,707** | **$10,589** | [Consolidated Statements of Operations](index=69&type=section&id=Consolidated%20Statements%20of%20Operations) For 2023, revenue increased 5% to $31.3 million, gross profit rose 7%, and operating and net losses significantly narrowed due to reduced expenses Key Income Statement Data (in thousands) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Revenue | $31,316 | $29,913 | | Gross Profit | $24,342 | $22,694 | | Operating Loss | $(5,965) | $(10,429) | | Net Loss | $(5,872) | $(10,433) | | Net Loss per Share | $(0.50) | $(0.91) | [Consolidated Statements of Cash Flows](index=71&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In 2023, operating cash flow turned positive at $0.3 million, investing activities used $2.2 million, and financing provided $4.2 million, increasing cash to $9.2 million Cash Flow Summary (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $318 | $(4,999) | | Net cash used in investing activities | $(2,156) | $(5,733) | | Net cash provided by (used in) financing activities | $4,170 | $(1,330) | | **Net increase (decrease) in cash** | **$2,332** | **$(12,062)** | | **Cash at end of period** | **$9,236** | **$6,904** | [Controls and Procedures](index=55&type=section&id=Item%209A.%20Controls%20and%20Procedures) As of December 31, 2023, the CEO and CFO concluded that disclosure controls and internal control over financial reporting were effective - Management, including the **CEO and CFO**, concluded that disclosure controls and internal control over financial reporting were **effective** as of December 31, 2023[204](index=204&type=chunk)[206](index=206&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Executive Compensation, and Other Matters](index=57&type=section&id=Items%2010-14) Information for Items 10-14, covering governance, executive compensation, and related matters, is incorporated by reference from the forthcoming 2024 proxy statement - Detailed information on corporate governance, executive compensation, and related party transactions will be available in the forthcoming **2024 proxy statement**[214](index=214&type=chunk)[216](index=216&type=chunk)[217](index=217&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=58&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all documents filed as part of the Form 10-K, including consolidated financial statements, corporate governance, and material contracts - The financial statements are filed as part of this report, beginning on **page F-1**[222](index=222&type=chunk) - A key exhibit is the **Loan and Security Agreement** dated November 30, 2023, related to the **$7.0 million term loan**[224](index=224&type=chunk)