DETROIT - Amesite Inc. (NASDAQ: AMST), an artificial intelligence software company, announced today the continuation of its partnership with EWIE Group of Companies (EGC), a commodity management services leader. This renewal marks the third year of collaboration, with Amesite providing enterprise upskilling for EGC's global workforce through its cloud-based learning platform.
Amesite's platform delivers customized training to EGC's teams across 11 countries, boasting high completion rates and average scores of 94%, well above the 70% target. Kasey Braun, EGC's Quality Assurance and Training Support Manager, praised the partnership, highlighting the smooth global operation and the effectiveness of Amesite's technology and services.
The CEO of Amesite, Dr. Ann Marie Sastry, emphasized the transformative impact of generative AI and other AI tools on employee training, noting the ability to offer real-time, on-demand training that shortens cycles, reduces costs, and improves performance.
The enterprise eLearning market is projected to reach $240.9 billion by 2027, and Amesite's partnership with EGC includes 189 active courses, demonstrating the growing demand for AI-enhanced learning solutions.
EGC, with over 40 years of experience, operates in 12 countries, providing services that range from commodity management to green field project support. Amesite, on the other hand, offers an AI-powered learning ecosystem designed for educational institutions and businesses, featuring around-the-clock learner support and current content.
In other recent news, Amesite Inc., an artificial intelligence software company, has been actively expanding its offerings. The company introduced a suite of AI-powered job application tools for nurses via its NurseMagic™ app, aiming to assist the over 5.2 million nurses in their job application process.
These tools, such as NurseResumeBuilder and NurseCoverLetter, are designed to help nurses create professional, tailored job application materials. This development is part of Amesite's ongoing efforts to provide AI solutions across various sectors to enhance learning, job performance, and career advancement.
In a separate development, Amesite secured a five-year partnership with Volunteer State Community College, offering non-degree AI and technical training programs. This collaboration aims to provide industry certification and workforce development in a region with growing technical demands. Amesite's Vice President of Sales, Brandon Owens, expressed excitement about the partnership, expecting mutual success and a positive impact on higher education.
InvestingPro Insights
As Amesite Inc. (NASDAQ: AMST) continues to strengthen its partnership with EGC for global workforce upskilling, investors and stakeholders may be interested in the company's current financial health and market performance. Amesite holds a market capitalization of $7.12 million, reflecting its position in the market. Despite facing challenges with revenue growth, which has declined by 70.21% over the last twelve months as of Q3 2024, Amesite's gross profit margin remains at 100% for the same period, indicating their ability to maintain profitability on the cost of goods sold.
InvestingPro Tips for Amesite highlight that the company holds more cash than debt, suggesting a stable financial base to support its operations and strategic partnerships like the one with EGC. Additionally, analysts anticipate sales growth in the current year, which could signal a turnaround from the recent revenue decline and potentially bolster investor confidence in the company's future performance.
For investors seeking a deeper analysis of Amesite's stock, there are 15 additional InvestingPro Tips available, offering insights into factors such as stock volatility, valuation, and the company's performance in its niche within the artificial intelligence industry. To explore these tips and gain a comprehensive understanding of Amesite's financial outlook, interested parties can visit https://www.investing.com/pro/AMST and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
It's worth noting that despite the stock's recent price fluctuations, with a significant hit over the last week and a 25.73% decrease over the last month, Amesite has experienced a strong return over the last three months, up by 23.89%. This demonstrates the stock's high price volatility but also its potential for rapid gains, as evidenced by the 56.42% uptick over the last six months. Such data points underscore the dynamic nature of Amesite's market presence and may be particularly relevant for investors with an interest in the tech sector's growth and innovation in AI-enhanced learning solutions.
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