SCOTTSDALE, Ariz. - Universal Electronics Inc. (NASDAQ: NASDAQ:UEIC), a $140 million market cap company known for its wireless control solutions for smart homes, has announced the debut of its new QuickSet homeSense technology at the International Consumer Electronics Show (CES) starting January 7, 2025. The company's stock has shown resilience with a 15% gain year-to-date, according to InvestingPro data, despite challenging market conditions. The technology is designed to enhance the smart home experience by introducing on-device intelligence that adapts to the environment and user behaviors.
QuickSet homeSense aims to personalize home automation and entertainment experiences through occupancy and presence detection, without the need for constant internet connectivity. It can adjust HVAC settings to preferred temperatures when a user is nearby or switch the home mode to 'away' for energy savings and security when no one is present. This innovation comes at a crucial time for UEIC, as InvestingPro analysis indicates the company maintains a healthy current ratio of 1.61, suggesting strong ability to fund its innovation initiatives.
This software-based solution also supports app-less occupancy detection, simplifying the user experience while maintaining privacy. The technology can process signals from various home devices and sensors, leveraging data to manage tasks such as lighting, heating, and appliance control.
Arsham Hatambeiki, SVP of Products and Technology at UEI, expressed excitement about introducing the technology at CES, highlighting its potential to empower manufacturers to create more responsive and personalized smart home devices.
QuickSet homeSense is available as part of the QuickSet 7 SDK or integrated with the QuickSet Widget Wireless Module Family and the UEI TIDE Smart Climate Control Family. It offers a software-only solution to existing QuickSet customers or as a complete product in climate control and home automation markets.
The press release emphasizes the technology's benefits for energy management, stating that QuickSet homeSense can optimize energy usage and provide cost savings for users. It supports different levels of device integration based on target use cases and complements other forms of occupancy and presence detection. While the company's revenue declined 14% in the last twelve months, analysis available on InvestingPro suggests UEIC is currently undervalued, with comprehensive research reports and additional ProTips available for subscribers seeking deeper insights into the company's potential.
UEI will showcase QuickSet homeSense at the Venetian Expo, Booth #53023, during CES. The company's focus remains on user-centric design, interoperability solutions, and privacy-first approaches to smart device technology.
The information for this article is based on a press release statement.
In other recent news, Universal Electronics has reported its Q3 2024 financial results, posting net sales of $102 million and an earnings per share (EPS) of $0.10. The firm B.Riley has upgraded Universal Electronics' stock rating from Neutral to Buy, reflecting a positive outlook on the company's recent developments. The company has secured design wins from Hunter Douglas and Somfy, and introduced a Zigbee smart thermostat for a major North American security brand.
Universal Electronics has also entered into a national distribution agreement for its professional security sensors. The company continues to strengthen its relationships with entertainment customers, increasing its share with multiple telecom providers in North America and Europe.
The company's CEO, Paul Arling, has expressed optimism for continued growth, particularly in the Connected Home and Home Entertainment sectors. Universal Electronics projects Q4 2024 sales to range from $99 million to $109 million, with EPS between $0.10 and $0.20. These recent developments underscore Universal Electronics' strategic initiatives to diversify its product offerings, expand its market reach, and improve its financial position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.