TUCSON, Ariz. - AudioEye, Inc. (NASDAQ: NASDAQ:AEYE), a company specializing in digital accessibility solutions, has announced the introduction of AudioEyeQ, a new learning platform aimed at providing free education on digital accessibility. The platform offers self-guided courses designed to help individuals and professionals understand and implement accessibility best practices in digital environments such as websites and mobile applications.
AudioEyeQ's initial offering, the 'Foundations of Accessibility: CPACC Preparation Course,' is geared towards assisting those studying for the Certified Professional in Accessibility Core Competencies (CPACC) exam, administered by the International Association of Accessibility Professionals (IAAP). This course, along with others on the platform, is developed and delivered by CPACC-certified experts from AudioEye.
The platform's courses cover a range of topics, from accessibility legislation to user-centric design, aiming to address common challenges faced by people with disabilities. AudioEye plans to expand its course offerings in Fall 2024 to include subjects like accessible design, coding, and testing.
AudioEye's mission is to build an inclusive digital future, serving over 119,000 customers, including notable brands such as Samsung (KS:005930) and Calvin Klein. The company holds 22 US patents and provides a suite of services that includes AI-driven automation, expert testing, and legal protection against accessibility-related issues.
Registration for AudioEyeQ courses is available on the company's website. This initiative is part of AudioEye's broader efforts to ensure digital accessibility across various industries by equipping individuals with the necessary knowledge and skills. The information for this article is based on a press release statement from AudioEye, Inc.
In other recent news, AudioEye, a digital accessibility solutions provider, has seen a significant uptick in its financial performance, with H.C. Wainwright, Roth/MKM, and B.Riley all raising their price targets for the company.
The revisions come on the heels of AudioEye's record first-quarter revenues of $8.1 million, a 10% increase in annual recurring revenue from the previous quarter, and an adjusted EBITDA of $920,000. Following these robust results, AudioEye raised its full-year revenue guidance to between $34.3 million and $34.7 million.
H.C. Wainwright anticipates accelerating revenue growth and enhanced profitability for AudioEye in the second half of 2024, with revenue growth forecasted to accelerate to 18.0% in 2025. B.Riley echoed this optimism, maintaining a Buy rating on AudioEye and increasing the stock price target to $18.50 from $14.00. Roth/MKM initiated coverage on AudioEye shares with a Buy rating and a price target of $25.00, citing the company's potential for growth due to recent regulatory changes.
These recent developments indicate a promising outlook for AudioEye. However, these projections are subject to change and should not be taken as definitive predictions of the company's future performance.
InvestingPro Insights
AudioEye, Inc. (NASDAQ: AEYE), while pushing the boundaries of digital accessibility with its new AudioEyeQ learning platform, also presents an interesting profile for investors. The company, with a market capitalization of approximately $273.9 million, is trading at a high Price / Book multiple of 55.73 as of the last twelve months ending Q1 2024. This valuation reflects investor confidence in the company's assets and future growth potential.
InvestingPro data indicates that AudioEye has achieved a gross profit margin of 77.76% over the same period, underscoring the company's ability to maintain a high level of profitability relative to its revenues, which stood at $31.63 million. This impressive gross profit margin is a testament to the company's efficient operations and cost management strategies.
Moreover, the company's revenue growth has been modest, with a 2.76% increase over the last twelve months and a 4.0% quarterly growth in Q1 2024, signaling steady progress in its financial performance.
An InvestingPro Tip highlights that analysts are optimistic about AudioEye's future, predicting that the company will be profitable this year. Two analysts have revised their earnings upwards for the upcoming period, reflecting a positive outlook on the company's financial trajectory.
For investors seeking more insights, there are 14 additional InvestingPro Tips available, which can be accessed through the platform at https://www.investing.com/pro/AEYE. Interested parties can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, offering a valuable opportunity to stay ahead with expert financial analysis.
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