Core Insights - BILT Incorporated's case study demonstrates the effectiveness of spatial computing and extended reality (XR) in enhancing trade school education, particularly in a 12-week electrical contracting certification program [1][2] Group 1: Study Findings - The integration of BILT's immersive training modules resulted in students completing the course nearly 24% faster than those using traditional methods [4] - 76% of students were tracked to be at least 3 weeks ahead of schedule, while 88% were 2.5 weeks ahead [4] - Errors related to reverse polarity and sheathing were completely eliminated, dropping from 18% and 20% to 0% [4] - Errors in connecting traveler wires to 4-way switches decreased by 90%, from 50% to 5% [4] - 93% of students reported feeling ready to apply their new skills in real-world scenarios [4] - Student engagement increased by 50%, facilitated by early access to immersive content that allowed hands-on practice without risks [4] Group 2: Company Overview - BILT provides 3D Intelligent Instructions for a wide range of products, enhancing professional training and user experience in assembly, installation, maintenance, and repair [3] - The platform is recognized for its efficiency and sustainability, offering interactive instructions across various operating systems, including immersive instructions for Apple Vision Pro [3]

Core Insights - Ohio University, HTC VIVE, and Virtualware have partnered to launch the Digital Enterprise Collaboratory (DEC) to support advanced manufacturing in Ohio [1][2] - The DEC will enhance Ohio University's engineering education and workforce development through real-time collaboration using XR technologies [2][4] - The program aims to address the demand for new factory workers and prepare the local workforce for advanced manufacturing jobs [3][4] Partnership Details - The collaboration combines Ohio University's engineering expertise, HTC VIVE's XR technologies, and Virtualware's VIROO platform [2] - The DEC will facilitate product development and research by connecting university, industry, government, and Department of Air Force Research Laboratories members [2][4] Infrastructure and Facilities - The DEC will consist of two laboratories located at Ohio University's Athens Campus and the OHIO facility in Dayton [5] - These labs will be equipped with virtual reality tools and connected through the VIROO platform, enabling real-time collaboration and project sharing [5] Workforce Development - The initiative is expected to help meet the estimated demand for 7,000 new workers in advanced technology factories being established by companies like Intel and Anduril [4][5] - Ohio University will expand its existing manufacturing training and certification programs to support this workforce demand [3] Event and Launch - The DEC will officially open on May 5 at the Athens Campus and on May 7 in Dayton, coinciding with the Dayton Digital Transformation Summit [6]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $5.4 million, down from $10.9 million in the prior year period, reflecting federal budget delays and grant distribution pauses [21][22] - Full year 2024 revenue totaled $26.4 million, compared to $38.8 million in 2023, indicating a significant decline due to a constrained booking environment [24][25] - Bookings for Q4 2024 grew to $12.2 million, a 37% sequential increase from Q3 2024, although many orders came late in the quarter [22] - Full year 2024 bookings totaled $29.6 million, down $4.2 million year-over-year, but excluding 2023 design and prototype contracts, bookings for federal services and STEP contracts increased by 24% [23] Business Line Data and Key Metrics Changes - Government revenue for 2024 was $22.9 million, down from $31 million in the prior year, impacted by the funding environment [25] - International revenue for 2024 was $3.1 million, compared to $6.5 million in the prior year, although bookings in the international market increased by 68% [25][26] - Gross profit for Q4 was $3.7 million (69% of total revenue), down from $9.2 million (84% in the prior year), primarily due to lower revenue [26] Market Data and Key Metrics Changes - The company secured contracts with government and law enforcement agencies in Europe and Latin America, expanding its training solutions to 44 countries [11] - The backlog as of December 31, 2024, totaled $22 million, including $10.6 million in capital, $6.6 million in service and warranties, and $4.8 million in STEP contracts [31] Company Strategy and Development Direction - The rollout of the V-XR platform is a strategic priority, with early customer reception being strong [12] - The company is focused on enhancing its sales pipeline and securing funding for law enforcement agencies [8][19] - Investments in manufacturing capabilities and operational infrastructure are aimed at handling large-scale contracts effectively [16] Management's Comments on Operating Environment and Future Outlook - Management noted that the funding environment remains unpredictable but believes that the long-term need for advanced training solutions continues to grow [34] - The company is optimistic about converting backlog into revenue as market conditions stabilize [34] - Management is closely monitoring macroeconomic factors impacting government funding cycles [17] Other Important Information - The company recorded a $750,000 revenue adjustment related to a prior international sale from 2021, affecting reported revenues for 2024 and 2023 [24] - Cash and cash equivalents as of December 31, 2024, were $18 million, down from $18.8 million in December 2023 [31] Q&A Session Summary Question: How long will the current funding softness last? - Management indicated that the funding environment may stabilize in a couple of quarters after the current assessments are completed [40][41] Question: What initiatives are being undertaken to weather the uncertainty? - The company has created a grant program to assist customers in navigating the funding process and has engaged with policymakers to advocate for clearer funding processes [44][45] Question: What is the outlook for the IVAS opportunity following the handoff to Anduril? - Management believes the transition to Anduril is a net positive, as Anduril has a strong history with government contracts and understands the requirements better than Microsoft [48][51] Question: How much of the $22 million in bookings should be recognized in 2025? - Management confirmed that if a booking is recorded, it means funding is secured, and the majority is expected to convert to revenue in 2025 [58] Question: Can you discuss the V-XR pricing and market opportunity? - The price point for V-XR ranges from $35,000 to $100,000, and the company sees significant opportunities in smaller, budget-constrained agencies [71][75]

Core Insights - Wearable Devices Ltd. is pioneering AI-based gesture control technology aimed at transforming human-device interactions, particularly in the XR, smartwatch, and AI-driven device markets [1][5][7] - The company is developing a neural wristband technology that detects user-specific micro-gestures, facilitating personalized controls tailored to individual users [2][5] - The technology aims to enhance usability and accessibility across various devices, driving adoption of neural-based interfaces in the expanding AI and XR sectors [6][7] Market Positioning - Wearable Devices is targeting high-growth markets such as augmented reality (AR), virtual reality (VR), smartwatches, and AI-driven wearables, where there is increasing demand for personalized input solutions [5][6] - The company has a decade of R&D experience and a growing patent portfolio, inviting collaboration with industry leaders to explore integration opportunities [6][7] Technological Advancements - The company is leveraging Large Motor Unit Action Potential (MUAP) Models to improve gesture classification, allowing for the recognition of micro-gestures and user-defined gestures [4][6] - The technology aims for cross-device integration, enabling personalized gestures to operate seamlessly across various platforms, including AR/VR headsets and smartwatches [6][7] Product Offerings - Wearable Devices' flagship products, such as the Mudra Band for iOS and Mudra Link for Android, utilize proprietary sensors and AI algorithms to enable touch-free interaction through subtle finger and wrist movements [7] - The company operates a dual-channel business model, focusing on direct-to-consumer sales and enterprise licensing, thereby enhancing user experiences in the rapidly expanding XR landscape [7]

Core Insights - Samsung is set to launch its extended reality headset, Project Moohan, this year, positioning it as a competitor to Apple's Vision Pro priced at $3,500 [1] - The headset was showcased for the first time at the Mobile World Congress 2025 in Barcelona, following a teaser from Samsung last year [1] Group 1: Product Features - The device is referred to as an "extended reality" or XR device, designed to merge digital and physical worlds, although specific details about the device remain limited [2] - The headset features four cameras on the front lens and touch controls on the side, indicating advanced interaction capabilities [2] Group 2: Collaboration and Technology - Samsung collaborated with Qualcomm and Google to develop a new operating system for XR devices, known as the Android XR platform [2] - The headset will include Google Gemini, allowing users to interact with Google's AI assistant for navigation through apps and tasks, suggesting a conversational user interface [3] - The presence of cameras indicates potential gesture control features, similar to those found in Apple's Vision Pro [3]