Amesite(AMST)
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Amesite (Nasdaq: AMST) Anticipates Sales Growth Amid Shifting Trade Dynamics
Globenewswire· 2025-04-04 22:17
Core Insights - Amesite Inc. remains insulated from U.S. trade uncertainties due to its fully remote, U.S.-based workforce and lack of reliance on foreign suppliers [1][2] - The company’s flagship product, NurseMagic™, significantly reduces documentation time for healthcare professionals, enhancing operational efficiency and financial performance [3][4] Company Operations - Amesite operates with a cloud-native infrastructure that avoids international chokepoints, protecting it from tariff impacts [1] - The company is focused on transforming the $330 billion home and healthcare segments with its AI-driven solutions [4] Product Performance - NurseMagic™ reduces charting time from 20 minutes to just 20 seconds, making it a high-performing and cost-effective solution for users [4] - The platform is currently being adopted by larger organizations across clinical and non-clinical teams, driving user growth and revenue [3] Market Position - The demand for NurseMagic™ is increasing due to rising cost pressures in the healthcare industry, positioning Amesite as a leader in the home health sector [3] - The platform serves B2B and B2C users across 50 states and 21 countries, with capabilities for seamless integration into healthcare workflows [4]
Amesite Announces Successful Soft Rollout of NurseMagic™ Caregiver Solution, Expanding Its Addressable Market for Enterprise by 50%
Newsfilter· 2025-03-11 10:30
Core Insights - Amesite Inc. has launched its non-clinical caregiver tool, NurseMagic™, aimed at enhancing the efficiency of non-clinical healthcare workers [1] - The company has significantly expanded its addressable market for enterprise sales by approximately 50% by focusing on non-clinical staff in home health care and skilled nursing sectors [2] - There has been a dramatic increase in contract adoption and sizes, with hospice provider contracts growing over 3,000% and contract sizes increasing nearly 1,000% in the last three months [3] Company Overview - Amesite is an AI-driven company targeting the $330 billion home and healthcare market, with its flagship product, NurseMagic™, designed to streamline documentation for caregivers, reducing time from 20 minutes to just 20 seconds [5] - The platform is utilized by over 100 professions and is compliant with HIPAA regulations, enhancing operational efficiency and financial performance [5] - NurseMagic™ offers seamless integration into healthcare workflows and supports translations in over 50 languages, serving B2B and B2C users across 50 states and 21 countries [5] Market Dynamics - The U.S. has nearly 3 million home health care and skilled nursing staff, with over 1.5 million being non-clinical healthcare support workers, indicating a substantial market for Amesite's solutions [2] - The company is experiencing accelerated contract closures and increasing deal sizes, providing a competitive advantage to organizations that deploy its platform across their entire workforce [4] - Amesite plans to introduce several new tools in the coming months, driven by customer engagement and market needs [4]
Amesite Announces NurseMagic™ Sales Growth for Hospice Care Team with Documentation Solution to Ensure Reimbursements, Reduce Audit Risk for Owners
Globenewswire· 2025-03-05 11:30
Core Insights - Amesite Inc. has successfully adopted its hospice documentation tool, NurseMagic™, addressing the critical issue of proper documentation in hospice care, which is essential for reimbursement [1] - The hospice care segment is experiencing rapid growth, with a reported 4.61% CAGR, and is projected to increase from $31.21 billion to $39.09 billion by 2030, highlighting the need for improved documentation solutions [4] Company Developments - Over the last three months, deal sizes with hospice providers have surged by nearly 1,000%, and NurseMagic™ sales have increased by over 3,000% as the company ramps up enterprise sales nationally [2][3] - The company has expanded its capabilities to support entire care teams, including nurses and non-clinical staff, enhancing the efficiency of hospice care documentation [3] Market Context - End-of-life care currently accounts for 21% of a person's lifetime healthcare costs, emphasizing the importance of hospice care in improving healthcare efficiency and patient satisfaction [3] - The rapid consumer acceptance of hospice care underscores the growing demand for effective documentation tools, which are critical for the segment's growth [4] Product Features - NurseMagic™ significantly reduces documentation time from 20 minutes to just 20 seconds, improving operational efficiency and financial performance for healthcare providers [5] - The platform is designed to meet HIPAA regulations while providing seamless integration into healthcare workflows, serving B2B and B2C users across 50 states and 21 countries [5]
Amesite Announces NurseMagic™ Sales Growth for Hospice Care Team with Documentation Solution to Ensure Reimbursements, Reduce Audit Risk for Owners
Newsfilter· 2025-03-05 11:30
Core Insights - Amesite Inc. has successfully adopted its hospice documentation tool, NurseMagic™, which addresses the critical issue of proper documentation in hospice care, reducing the risk of unreimbursed charges [1] - The company has experienced a significant increase in deal sizes with hospice providers, growing nearly 1,000% over the last three months, and is now securing entire workforces with its tools [2] - NurseMagic™ sales have surged by over 3,000% in the same period, indicating strong market demand and the effectiveness of the company's enterprise sales strategy [3] Company Developments - The hospice care segment is rapidly growing, currently valued at $31.21 billion and projected to reach $39.09 billion by 2030, with a compound annual growth rate (CAGR) of 4.61% [4] - Amesite's NurseMagic™ significantly reduces documentation time from 20 minutes to just 20 seconds, enhancing operational efficiency for healthcare professionals [5] - The company is expanding its capabilities in the healthcare sector, focusing on larger organizations and utilizing data from a large group of professionals to inform its technology and sales strategies [3][4] Market Context - End-of-life care accounts for 21% of a person's lifetime healthcare costs, highlighting the importance of hospice care in improving healthcare efficiency and patient satisfaction [3] - The demand for improved documentation in hospice care is critical for the segment's growth, as it directly impacts reimbursement and compliance [4]
Amesite Announces Enterprise Sales Growth with Automated Sales Flow for NurseMagic™ Business Customers
Globenewswire· 2025-02-25 11:30
Core Insights - Amesite Inc. has successfully implemented an automated sales process for its NurseMagic™ enterprise solution, significantly reducing the time to close sales by over 95% [1][5][6] Company Overview - Amesite Inc. specializes in AI-driven solutions for B2C and B2B markets, focusing on the healthcare sector with its flagship product, NurseMagic™ [1][9] - The company aims to transform the $360 billion home, hospice, and healthcare segments, with a long-term vision of a $600 billion opportunity for AI transformation by 2034 [2][8][9] Product Features - NurseMagic™ is designed to reduce documentation burdens, enhance patient communication, and improve workflow efficiency for healthcare professionals [4][9] - The platform allows enterprise customers to initiate and complete subscriptions in minutes, facilitating immediate onboarding and reducing operational risks [3][7] Market Potential - The addressable market for NurseMagic™ spans over 50,000 U.S. businesses across home care, home health care, and hospice sectors, representing a significant growth opportunity [2][6] - As demand for home-based care rises, healthcare organizations are increasingly seeking solutions that streamline operations while maintaining high-quality patient care [6] Sales and Onboarding Efficiency - The automated sales flow enables healthcare organizations to onboard employees onto the NurseMagic™ app quickly, ensuring efficiency gains are realized immediately [5][6] - Customers can easily manage and scale their NurseMagic™ subscriptions, adding licenses as their teams grow [3][5]
Amesite(AMST) - 2025 Q2 - Quarterly Report
2025-02-07 21:30
Financial Performance - The company incurred a net loss of $2,029,682 for the six months ended December 31, 2024, and a cumulative net loss of $39.9 million since its incorporation on November 14, 2017[91][96]. - Revenue for the six months ended December 31, 2024, was approximately $24,000, a significant decrease from $105,000 for the same period in 2023[114]. - Interest income for the six months ended December 31, 2024, was approximately $28,500, compared to $110,000 for the same period in 2023[124]. - One customer accounted for approximately 94% of total revenue for the six months ended December 31, 2024[112]. Cash and Financing - As of December 31, 2024, the company's cash and cash equivalents totaled $519,706, down from $2,071,016 as of June 30, 2024[107]. - The company has raised approximately $11,760,000 from private placement financing transactions since its inception, with a public offering on January 8, 2025, generating approximately $3.08 million in cash proceeds[97][100]. Expenses - General and administrative expenses increased to approximately $1,438,000 for the six months ended December 31, 2024, compared to approximately $882,000 for the same period in 2023[119]. - Technology and content development expenses decreased to approximately $352,000 for the six months ended December 31, 2024, from approximately $664,000 in the same period in 2023[121]. - Sales and marketing expenses were approximately $293,000 for the six months ended December 31, 2024, down from approximately $464,000 for the same period in 2023[123]. - Capital asset additions for the six months ended December 31, 2024, were $212,600, compared to $118,000 in the same period of 2023, indicating a significant increase in capital expenditures[126]. Compliance and Regulatory Issues - The Company received a Nasdaq deficiency letter on November 26, 2024, due to non-compliance with the Stockholders' Equity Requirement of $2,500,000[127]. - The Company submitted a plan to regain compliance on January 10, 2025, and believes it has regained compliance following a public offering[128]. - Nasdaq confirmed compliance with the Stockholders' Equity Requirement on January 23, 2025, but warned of potential delisting if compliance is not evidenced in the next periodic report[128]. Internal Controls - Management concluded that disclosure controls and procedures were not effective due to identified material weaknesses in internal control over financial reporting[132]. - Specific material weaknesses included deficiencies in reviewing and approving journal entries and ensuring accurate stock compensation expense calculations[134]. - The Company is taking steps to remediate material weaknesses, including documenting processes and controls for business transactions[138]. - There were no changes in internal control over financial reporting that materially affected the Company's controls during the period ended December 31, 2024[137]. - The Company plans to formalize processes for monitoring internal control over financial reporting to improve overall effectiveness[138]. - There is no assurance that current or planned remediation measures will be sufficient to address identified material weaknesses[136]. Going Concern - The company has substantial doubt about its ability to continue as a going concern due to ongoing net losses and negative cash flows[92][105].
Nasdaq Celebrates AI Company Wins In Home Health and Healthcare in Times Square
Newsfilter· 2025-01-30 11:30
Company Overview - Amesite, Inc. is a pioneering technology company specializing in B2C and B2B AI-driven solutions, with a focus on developing applications that enhance efficiency and reduce costs in various sectors [3] - The company has launched NurseMagic™, an AI-powered application designed specifically for nursing professionals and home health care workers, which streamlines documentation and enhances patient communication [3] Product Details - NurseMagic™ has seen rapid adoption, with users across all fifty U.S. states and twenty-one countries, indicating strong market penetration [2] - The application offers a suite of tools for nursing professionals, including the ability to create nursing notes in multiple formats such as SOAP, SOAPIER, Narrative, and ISBAR within seconds [2] - Testimonials from paying customers validate the product's market fit and its effectiveness as a gamechanger in the healthcare sector [2] Market Context - The healthcare sector targeted by NurseMagic™ is valued at approximately $130 billion, presenting significant growth opportunities for the company [2] - The company aims to deliver value to both business owners and employees within this sector through its innovative solutions [2]
Amesite Inc. (Nasdaq: AMST) Presenting at The Microcap Conference on January 29
Globenewswire· 2025-01-29 17:50
Core Insights - Amesite, Inc. is participating in The Microcap Conference 2025, focusing on growth opportunities for companies and investors [1] - The CEO, Dr. Ann Marie Sastry, will present updates on the NurseMagic™ app and discuss growth strategies [2] - NurseMagic™ is an AI-powered mobile application aimed at enhancing the efficiency of nursing professionals and home health care workers [3][4] Company Overview - Amesite, Inc. specializes in B2C and B2B AI-driven solutions, leveraging proprietary AI infrastructure [4] - The NurseMagic™ app streamlines nursing documentation, improves patient communication, and provides personalized guidance for nurses [4]
Amesite Announces Closing of Public Offering
Globenewswire· 2025-01-08 21:30
Core Viewpoint - Amesite Inc. has successfully closed a public offering of 1,201,667 shares at a price of $3.00 per share, raising approximately $3.6 million, with participation from certain officers and directors totaling around $1.26 million [1][2]. Group 1: Offering Details - The public offering was underwritten on a "best efforts" basis, with Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC serving as joint book-running managers [2]. - The net proceeds from the offering will be allocated for general corporate purposes, capital expenditures, working capital, and general and administrative expenses [2]. Group 2: Company Overview - Amesite Inc. specializes in developing and marketing AI-driven solutions for both B2C and B2B markets, leveraging proprietary AI infrastructure [5]. - The company offers applications such as NurseMagic™, a mobile app designed for health and care professionals, which aids in nursing documentation, enhances patient communication, and provides personalized guidance [5]. Group 3: Regulatory Information - A shelf registration statement related to the public offering was filed with the SEC and declared effective on December 18, 2024 [3]. - A preliminary prospectus supplement and accompanying prospectus for the offering are available on the SEC's website [3].
Amesite Announces Pricing of Public Offering
GlobeNewswire News Room· 2025-01-07 13:35
Core Viewpoint - Amesite Inc. has announced a public offering of 1,201,667 shares at a price of $3.00 per share, aiming to raise approximately $3.6 million, with participation from certain officers and directors for about $1.26 million [1][2]. Group 1: Offering Details - The public offering is underwritten on a "best efforts" basis and is expected to close on January 8, 2025, pending customary closing conditions [1]. - Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC are serving as joint book-running managers for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for general corporate purposes, capital expenditures, working capital, and general and administrative expenses [2]. Group 3: Company Overview - Amesite Inc. specializes in AI-driven solutions for both B2C and B2B markets, leveraging proprietary AI infrastructure to develop applications that meet individual and professional needs [5]. - The company's mobile app, NurseMagic™, assists health and care professionals by streamlining nursing documentation, enhancing patient communication, and providing personalized guidance [5].