Revenue in Q1'22 was $173.0 million and Adjusted EBITDA was $15.8 million
Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) reported results for its first quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles ("GAAP"), except as otherwise indicated below. 1
"We delivered strong sequential and year-over-year growth in the First Quarter," said Phil Brace, President and CEO of Sierra Wireless. "We continue to work closely with our suppliers to secure components to meet the strong demand from our customers."
First Quarter 2022 Compared to First Quarter 2021
Revenue from IoT Solutions increased 79.3% to $133.7 million as compared to $74.6 million in the first quarter of 2021. The increase was primarily due to increased demand for connected devices globally. IoT Solutions gross margin was 30.3%, compared to 29.6% in the first quarter of 2021.
Revenue from Enterprise Solutions increased 17.2% to $39.2 million as compared to $33.5 million in the first quarter of 2021. The increase was primarily due to strong demand for routers in our key industrial and public safety verticals. Enterprise Solutions gross margin was 37.0% as compared to 46.7% in the first quarter of 2021. Enterprise Solution gross margin was negatively impacted by obsolete inventory from our home security business and one-time expedited shipping costs caused by 2021 COVID-19 related shutdowns. These one-time factors had a negative 9.0% impact on gross margin.
Cash and cash equivalents and restricted cash, including amounts held for sale, at the end of the first quarter of 2022 were $97.4 million, an increase of $20.6 million from the fourth quarter of 2021. In January 2022, we received net proceeds of $45.8 million from the full drawdown of our CAD$60 million debt facility with the Canadian Imperial Bank of Commerce and the Business Development Bank of Canada. The debt facility has a term of four years and a first-year interest rate of 5%. In addition, we continued to make investments in inventory in the supply constrained environment.
Disposition of Offender Monitoring Business Line
On April 15, 2022, we signed a definitive agreement and closed the sale of our Omnilink offender monitoring business to Sentinel Advantage LLC for $37.6 million in cash, subject to customary working capital adjustments. Sentinel continues to be an important customer, and we are providing them with connectivity services and embedded modules for their offender monitoring products. The divestiture allows the Company to focus on its core businesses and strengthen its balance sheet.
The impact of the COVID-19 pandemic on our global business continues to remain uncertain. While we continue to evaluate the effects of COVID-19 on our business, the overall severity and duration of adverse impacts related to COVID-19 on our business, financial condition, cash flows and operating results for the second quarter 2022 and beyond cannot be reasonably estimated at this time. Due to continued strong demand and the investment in inventory to combat the industry-wide tightness in supply, we expect our revenue in the second quarter 2022 to be in the range of $160 million to $175 million, with a midpoint of $167.5 million.
This non-GAAP guidance constitutes "forward-looking statements" within the meaning of applicable securities laws and reflects current business indicators and expectations. These statements are based on management's current beliefs and assumptions, which could prove to be significantly incorrect. Forward-looking statements, particularly those that relate to longer periods of time, are subject to substantial known and unknown risks and uncertainties that could cause actual events or results to differ significantly from those expressed or implied by our forward-looking statements, including those described in our regulatory filings. See "Cautionary Note Regarding Forward-Looking Statements" below.
1 Non-GAAP financial measures referred to in this news release are labeled as "non-GAAP measure" or designated as such with an asterisk (*). Please see "Non-GAAP Financial Measures" for explanations of why the Company uses these non-GAAP measures and "Reconciliation of GAAP and Non-GAAP Results by Quarter" for reconciliation to the most comparable GAAP financial measures.
2 MRR is defined as the monthly recurring revenue generated from connectivity, software, and services as well as usage fees from current customers. MRR is a key performance metric to measure our performance and growth in our recurring revenue, both to help investors better understand and assess the performance of our business and also because our mix of revenue generated from recurring sources has increased in recent years. MRR does not have any standardized meaning and is therefore unlikely to be comparable to similarly titled measures presented by other companies. MRR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. MRR is not a forecast.
3 In accordance with U.S. GAAP, the results of operations of the Automotive Business are reported as discontinued operations in our consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 and 2021. In accordance with U.S. GAAP, assets and liabilities associated with the Omnilink business have been recorded as held for sale in our consolidated balance sheet as at March 31, 2022.
Our consolidated financial statements are prepared in accordance with U.S. GAAP on a basis consistent for all periods presented. In addition to results reported in accordance with U.S. GAAP, we use non-GAAP financial measures as supplemental indicators of our operating performance. The term "non-GAAP financial measure" is used to refer to a numerical measure of a company's historical or future financial performance, financial position or cash flows that: (i) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with U.S. GAAP in a company's statement of earnings, balance sheet or statement of cash flows; or (ii) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.
Our non-GAAP financial measures included in this press release are adjusted net earnings (loss) from continuing operations*, adjusted basic and diluted net earnings (loss) per share from continuing operations*and adjusted EBITDA* (earnings before interest, taxes, depreciation and amortization).
Adjusted net earnings (loss) from continuing operations* excludes the impact of stock-based compensation expense and related social taxes, phantom RSU expense which represents expenses related to compensation units settled in cash based on the stock price at vesting, restructuring costs, government grants related to COVID-19 relief, CEO retirement/search, impairment, the ransomware incident, COVID-19 factory constraint incremental costs, certain other non-recurring costs or recoveries, acquisition-related amortization, the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, unrealized foreign exchange gains or losses on forward contracts, and certain tax adjustments.
Adjusted EBITDA* is defined as net earnings (loss) from continuing operations plus stock-based compensation expense and related social taxes, phantom RSU expense which represents expenses related to compensation units settled in cash based on the stock price at vesting, restructuring costs, government grants related to COVID-19 relief, CEO retirement/search, impairment, the ransomware incident, COVID-19 factory constraint incremental costs, certain other non-recurring costs or recoveries, amortization, interest and other income (expense), foreign exchange gains or losses on translation of certain balance sheet accounts, unrealized foreign exchange gains or losses on forward contracts, and income tax expense (recovery). Adjusted EBITDA* is a metric used by investors and analysts for valuation purposes and is an important indicator of our operating performance and our ability to generate liquidity through operating cash flow that will fund future working capital needs and fund future capital expenditures.
We use the above-noted non-GAAP financial measures for planning purposes and to allow us to assess the performance of our business before including the impacts of the items noted above as they affect the comparability of our financial results. These non-GAAP measures are reviewed regularly by management and the Board of Directors as part of the ongoing internal assessment of our operating performance.
We disclose these non-GAAP financial measures as we believe they provide useful information to investors and analysts to assist them in their evaluation of our operating results and to assist in comparisons from one period to another. Readers are cautioned that non-GAAP financial measures do not have any standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies.
Conference call and webcast details
Sierra Wireless is hosting a conference call to discuss its financial results for the first quarter ended March 31, 2022 on Wednesday May 11, 2022, at 5:30 PM Eastern time (2:30 PM Pacific time).
To participate, dial the following number approximately ten minutes prior to the start of the call:
Conference call and webcast details are available at the following link:
Sierra Wireless Q1 2022 Conference Call and Webcast
If the above link does not work, copy and paste the following URL into your browser:
https://app.webinar.net/9Q04x3Qb6zV
The webcast will remain available at the above link for one year following the call.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain statements and information that are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws (collectively, "forward-looking statements") and may include statements and information relating to our financial guidance for our second quarter of 2022; our expectations regarding customer demand, our supply chain, manufacturing capacity (including manufacturing shutdowns or slowdowns) and the potential impact of COVID-19 in these areas; our ability to meet customer demand and our financial results; expectations regarding post-COVID-19 recovery; expectations regarding the Company's cost savings initiatives; statements regarding our strategy, plans, goals, objectives, expectations and future operating performance; the Company's liquidity and capital resources; the Company's financial and operating objectives and strategies to achieve them; the impact of the ransomware incident on our business operations; our work to review and evaluate additional security measures and the ability that they will have to protect our IT systems; general economic conditions; estimates of our expenses, future revenues, financial results and capital requirements; our expectations regarding the legal proceedings we are involved in; statements with respect to the Company's estimated working capital; expectations with respect to the adoption of Internet of Things ("IoT") solutions; expectations regarding trends and growth in the IoT market and wireless module market; expectations regarding product and price competition from other wireless device manufacturers and solution providers; our ability to implement effective control procedures; and expectations regarding the launch of fifth generation cellular embedded modules and gateways. In particular, this press release describes our revenue targets, which are forward-looking statements and are subject to the assumptions, risks and uncertainties described below. Forward-looking statements are provided to help you understand our views of our short and long term plans, expectations and prospects. We caution you that forward-looking statements may not be appropriate for other purposes.
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is a leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Companies globally are adopting 4G, 5G, and LPWA solutions to improve operational efficiency, create better customer experiences, improve their business models, and create new revenue streams. Sierra Wireless works with its customers to develop the right industry-specific solution for their IoT deployments, whether this is an integrated solution to help connect edge devices to the cloud, a software/API service to manage processes with billions of connected assets, or a platform to extract real-time data to improve business decisions. With more than 25 years of cellular IoT experience, Sierra Wireless is the global partner customers trust to deliver them their next IoT solution. For more information, visit www.sierrawireless.com .
"Sierra Wireless" is a registered trademark of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In thousands of U.S. dollars, except where otherwise stated)
Net loss from continuing operations
Net earnings (loss) from discontinued
Foreign currency translation adjustments, net of taxes of $nil
Basic and diluted net earnings (loss) per share (in dollars)
Weighted average number of shares outstanding
(In thousands of U.S. dollars, except where otherwise stated)
Accounts payable and accrued liabilities
Current portion of long-term debt
Common stock: no par value; unlimited shares authorized; issued and outstanding: 38,322,537 shares (December 31, 2021 - 37,774,800 shares)
Preferred stock: no par value; unlimited shares authorized;
issued and outstanding: nil shares
Treasury stock: at cost; 7,074 shares (December 31, 2021 – 119,761 shares)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
Cash flows provided by (used in):
Items not requiring (providing) cash
Changes in non-cash working capital
Accounts payable and accrued liabilities
Cash flows used in operating activities
Additions to property and equipment
Proceeds from sale of property and equipment
Cash flows used in investing activities
Issuance of common shares, net of issuance cost
Purchase of treasury shares for RSU distribution
Taxes paid related to net settlement of equity awards
Decrease in other long-term obligations
Proceeds from long-term debt, net of issuance cost
Cash flows provided by (used in) financing activities
Effect of foreign exchange rate changes on cash and cash equivalents
Cash, cash equivalents and restricted cash, increase (decrease) in the period
Cash, cash equivalents and restricted cash, beginning of period
Cash, cash equivalents and restricted cash, end of period
Cash, cash equivalents and restricted cash are comprised of
Cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash held for sale
Cash, cash equivalents and restricted cash, end of period
RECONCILIATION OF GAAP AND NON-GAAP RESULTS BY QUARTER
(in thousands of U.S. dollars, except where otherwise stated)
Net loss from continuing operations - GAAP
Stock-based compensation and related social taxes
COVID-19 factory constraint incremental costs
Interest and other expense, net
Foreign exchange loss (gain), net of realized gain/loss on hedge contracts
Net loss from continuing operations - GAAP
Stock-based compensation and related social taxes
COVID-19 factory constraint incremental costs
Foreign exchange loss (gain), net of realized gain/loss on hedge contracts
Income tax expense (recovery) adjustment
Adjusted earnings (loss) from continuing operations*
Weighted average number of share (in thousands) - basic and diluted
Basic and diluted adjusted earnings (loss) per share from continuing operations (in dollars)*
(In thousands of U.S. dollars, except where otherwise indicated)
View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006272/en/
Investor and Media Contact: David Climie, Investor Relations dclimie@sierrawireless.com
Investor Contact: Samuel Cochrane, Chief Financial Officer investor@sierrawireless.com
News Provided by Business Wire via QuoteMedia
Qualcomm Incorporated (NASDAQ: QCOM) today announced that it will publish the Company's financial results for its third quarter fiscal 2022 on Wednesday, July 27, 2022 after the close of the market on the Company's Investor Relations website, at https:investor.qualcomm.comfinancial-information . The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K, which will be available on the SEC website at http:www.sec.gov .
Qualcomm will host a conference call to discuss its third quarter fiscal 2022 results which will be broadcast live on July 27, 2022 , beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/events . An audio replay will be available at https://investor.qualcomm.com/news-events/events and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13731134.
Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch, and expansion of 5G. When we connected the phone to the internet, the mobile revolution was born. Today, our foundational technologies enable the mobile ecosystem and are found in every 3G, 4G and 5G smartphone. We bring the benefits of mobile to new industries, including automotive, the internet of things, and computing, and are leading the way to a world where everything and everyone can communicate and interact seamlessly.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. For more information, visit www.qualcomm.com .
Qualcomm Contact: Mauricio Lopez-Hodoyan Vice President, Investor Relations Phone: (858) 658-4813 Email: ir@qualcomm.com
View original content: https://www.prnewswire.com/news-releases/qualcomm-schedules-third-quarter-fiscal-2022-earnings-release-and-conference-call-301585559.html
News Provided by PR Newswire via QuoteMedia
Deeplite, Raven Connected, Sensor Cortek and Wedge Networks will have access to BlackBerry IVY to deliver high-impact transportation use cases leveraging in-vehicle data
BlackBerry Limited (NYSE: BB) (TSX: BB) and L-SPARK Canada's largest software-as-a-service accelerator, today announced the four winning companies that will make up the third cohort of their joint accelerator program, which aims to grow Canadian technology companies that are focused on connected vehicle technologies.
New this year, the accelerator has provided select companies with access to BlackBerry's Intelligent Vehicle Data Platform – BlackBerry IVY ™ , enabling them to deliver next-generation connected vehicle use cases leveraging in-vehicle data with a view to improving driver and passenger experiences. BlackBerry IVY is a scalable, cloud-connected software platform that allows automakers to provide a consistent and secure way to read vehicle sensor data, normalize it, and create actionable insights from that data both locally in the vehicle and in the cloud.
The companies that make up the third cohort of the program include:
Deeplite, Montreal – Deeplite provides an AI inference optimization platform for the millions of developers struggling to deploy edge-AI to products in vehicles, smart cities, 5G IoT, and the things we use every day by making smaller, faster and more energy efficient AI.
Raven Connected, Ottawa – Raven Connected provides a comprehensive video telematics platform that incorporates an array of sensors, communication modules and direct connection to the vehicle's onboard computer to capture images, video and other data elements. These components are incorporated into ML and AI models to generate real-time insights into vehicle performance, driving behaviors, road conditions and pedestrian safety.
Sensor Cortek, Ottawa – Sensor Cortek uses deep neural networks to develop advanced embedded AI-based perception systems enabling reliable understanding of real-world environments. The company creates intelligent software solutions with a focus on advanced driver-assistance and autonomous vehicles.
Wedge Networks, Calgary – Wedge Networks is a cybersecurity software vendor specializing in intelligent real-time threat prevention. With numerous patents, awards, and peer-reviewed machine learning publications, Wedge's intelligent, constantly evolving and learning threat prevention platform protects millions of connected devices - including connected and autonomous vehicles and intelligent transportation systems.
"The four companies selected for this very special BlackBerry IVY focused accelerator program with L-SPARK represent the very best of the Canadian smart mobility ecosystem. Each brings with them a wealth of talent, innovative technology and a drive to deliver high-impact, data-driven services and solutions that will one day transform the in-car experience," said Peter Virk , Vice President of IVY Product and Ecosystem, BlackBerry. "We look forward to working with them in the weeks and months ahead and are confident that their offerings will resonate with OEMs as we continue to build out the breadth and depth of our BlackBerry IVY ecosystem."
"The BlackBerry L-SPARK Accelerator has not only propelled connected vehicle technology forward, but has also paved the way for collaboration and partnership between the participating companies and BlackBerry," said Leo Lax , Executive Managing Director at L-SPARK. "We are thrilled to be at the forefront of innovation in the connected vehicle technology space alongside the incredible team at BlackBerry for the third consecutive year."
L-SPARK will, once again, turn to the expertise of the National Research Council of Canada-Industrial Research Assistance Program (NRC-IRAP), to support the companies involved in this program.
BlackBerry (NYSE: BB) (TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 215M vehicles. Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.
For more information, visit BlackBerry.com and follow @BlackBerry.
Trademarks, including but not limited to BLACKBERRY, EMBLEM Design and QNX are the trademarks or registered trademarks of BlackBerry Limited, its subsidiaries and/or affiliates, used under license, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.
L-SPARK is Canada's leading accelerator for the Connected Cars (AV) industry as well as Software as a Service (SaaS) companies. The accelerator offers programs focused on future innovative B2B and B2B/B2C companies, as well as targeted programs which partner with leading corporations in Connected Medtech, IoT and CyberSecurity.
Since the launch of their first cohort in January 2015 , L-SPARK has accelerated 95 companies across Canada who collectively have raised over $115M in follow-on funding. With over 10,000 investors, corporate partners and startups now in their network, L-SPARK has curated a dynamic Canadian tech community for participating companies to join.
BlackBerry Media Relations +1 (519) 597-7273 mediarelations@BlackBerry.com
L-SPARK Stef Reid , Director of Marketing 613 620 0724 stef@l-spark.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/blackberry-l-spark-announce-four-companies-for-their-blackberry-ivy-connected-car-accelerator-program-301583623.html
News Provided by PR Newswire via QuoteMedia
"Ted Lasso" earns 20 Emmy nominations in total, dominating as most-nominated comedy series for second year in a row, with standout performances nabbing 10 acting nominations
"Severance" makes Emmy Award debut with 14 nominations in total for its hit first season
Apple TV+ earns nominations across 13 titles including "Schmigadoon!," "The Morning Show," "The Problem with Jon Stewart," "Central Park," "Pachinko," "Foundation," "Lisey's Story," "See," "They Call Me Magic," and "Carpool Karaoke: The Series"
For the second consecutive year, Apple TV+ today broke records with 52 Emmy Award nominations across 13 titles, including Best Drama, Best Comedy, Outstanding Hosted Nonfiction Series or Special Program, Lead Actress in a Drama, Lead Actor in a Drama Series, and Lead Actor in a Comedy. In under three years after its global launch, Apple TV+ boosted its total number of Emmy Award nominations by more than 40% year-over-year. The winners of the 74th Annual Primetime Emmy Awards will be unveiled at a televised ceremony on September 12, 2022.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220712006090/en/
The second season of Apple's "Ted Lasso" earns 20 Emmy Award nominations, becoming the most-nominated comedy series for second year in a row. (Photo: Business Wire)
The second season of global phenomenon "Ted Lasso," becomes the most nominated comedy series for the second year in a row with 20 nominations total, and widely celebrated freshman drama "Severance" makes its Emmy debut with 14 nominations, scoring the first Best Drama series nomination for Apple TV+.
In addition, Apple Originals "Ted Lasso," "Severance," "Schmigadoon!," "The Morning Show," "The Problem with Jon Stewart," "Foundation," "Pachinko," "See," "Lisey's Story," "Central Park," "They Call Me Magic" and "Carpool Karaoke: The Series" are recognized with nominations for this year's Primetime Emmy Awards.
Apple TV+ series stars earn 18 acting category nominations, including 10 top acting nominations for the second season of "Ted Lasso," and first-time acting nominations for Adam Scott ("Severance"), Sarah Niles ("Ted Lasso"), Sam Richardson ("Ted Lasso") and Toheeb Jimoh ("Ted Lasso"). Reese Witherspoon lands her first nomination for "The Morning Show" in the Lead Actress in a Drama Series category, alongside co-star Billy Crudup who is recognized with a nomination for Best Supporting Actor in a Drama Series after nabbing the award for the first season, and Marcia Gay Harden secures a nomination for Guest Actress in a Drama Series.
"This extraordinarily talented group of Emmy nominees showcase the variety of brilliant, unique and original stories we've been honored to bring to the screen over the past year," said Zack Van Amburg, Apple's head of Worldwide Video. "Each of these series has inspired audiences to view the world a little differently, drawing attention to the human condition in moving, inspiring, and often very funny new ways. We're grateful to the Academy and applaud the creative teams and casts for their wonderful achievements today."
"We are immensely proud of the broad selection of Apple Original programming recognized by the Television Academy today," said Jamie Erlicht, Apple's head of Worldwide Video. "These series have captivated audiences and we greatly admire all of these incredibly talented storytellers and congratulate them on their nominations for the dynamic stories they bring to life."
Last year, in its second year of Emmy eligibility, Apple's "Ted Lasso" broke records by becoming the most nominated freshman comedy series in Emmy history. Apple Original series, films, and documentaries have now been honored with 246 wins and 1,115 award nominations and counting, including this year's Oscar Best Picture winner "CODA."
In total, Apple scored 52 Emmy Award nominations for:
The Problem with Jon Stewart (2)
"Carpool Karaoke: The Series"
Each episode of "Carpool Karaoke: The Series" features celebrities sharing a car, singing along to their personal playlists, and embarking on adventures. Season five kicks off with Simu Liu and Jessica Henwick; "The White Lotus" costars Murray Bartlett, Alexandra Daddario and Sydney Sweeney; Anitta and Saweetie; Zooey Deschanel and Jonathan Scott, who first met on "Carpool Karaoke"; the stars of All Elite Wrestling; and the D'Amelio family.
"Carpool Karaoke: The Series," which has won an Emmy for each of its previous four seasons, along with multiple Producers Guild Awards and a Critics Choice Award, is produced for Apple by CBS Studios and Fulwell 73 Productions, with executive producers James Corden, Eric Pankowski and Ben Winston.
"Central Park" is an animated musical comedy about the Tillermans, a family that lives in Central Park. Owen, the park manager, and Paige, his journalist wife, raise their kids Molly and Cole in the world's most famous park, while fending off hotel heiress Bitsy Brandenham and her long suffering assistant Helen, who would love nothing more than to turn the park into condos. "Central Park" stars a renowned voice cast that includes Josh Gad, Leslie Odom Jr., Daveed Diggs, Emmy Raver-Lampman, Kathryn Hahn, Tituss Burgess and Stanley Tucci.
"Central Park" is created, written and executive produced by Emmy Award winner Loren Bouchard ("Bob's Burgers"), alongside Grammy Award winner Josh Gad ("Frozen") and Emmy Award winner Nora Smith ("Bob's Burgers"). Steven Davis and Kelvin Yu serve as showrunners and also executive produce. The series is produced for Apple by 20th Television Animation, a part of Disney Television Studios.
Based on Isaac Asimov's award-winning stories, and featuring an international cast led by Jared Harris and Lee Pace, alongside rising stars Lou Llobell and Leah Harvey, the monumental adaptation of "Foundation" chronicles the stories of four crucial individuals transcending space and time as they overcome deadly crises, shifting loyalties and complicated relationships that will ultimately determine the fate of humanity. The Apple Original drama also stars Laura Birn, Terrence Mann and Cassian Bilton.
"Foundation" is led by showrunner and executive producer David S. Goyer and produced for Apple by Skydance Television with Robyn Asimov, Josh Friedman, Cameron Welsh, David Ellison, Dana Goldberg and Bill Bost also serving as executive producers on season one of the series.
"Lisey's Story"
Based on the best-selling novel by Stephen King, and adapted by the author himself, "Lisey's Story" is a deeply personal thriller that follows Lisey Landon (Academy Award winner Julianne Moore) two years after the death of her husband, famous novelist Scott Landon (Academy Award nominee Clive Owen). A series of unsettling events causes Lisey to face memories of her marriage to Scott that she has deliberately blocked out of her mind. Joan Allen, Jennifer Jason Leigh, and Dane DeHaan star alongside Moore and Owen.
An Apple Original limited series, "Lisey's Story" is directed by Pablo Larraín, and hails from J.J. Abrams' Bad Robot Productions and Warner Bros. Television. King, Moore and Larraín executive produce alongside Abrams, Ben Stephenson and Juan de Dios Larraín. Every episode of the series was personally written by King.
"The Morning Show"
Picking up after the explosive events of season one, season two found "The Morning Show" team emerging from the wreckage of Alex (Jennifer Aniston) and Bradley's (Reese Witherspoon) actions, to a new UBA and a world in flux, where identity is everything and the chasm between who we present as and who we really are comes into play. Along with Aniston and Witherspoon, the star-studded cast includes Billy Crudup, Mark Duplass, Nestor Carbonell, Karen Pittman, Bel Powley, Desean Terry, Janina Gavankar, Tom Irwin and Marcia Gay Harden, as well as new additions for season two Greta Lee, Ruairi O'Connor, Hasan Minhaj, Holland Taylor, Tara Karsian as news producer Gayle Burns, Valeria Golino and Julianna Margulies.
Developed by Kerry Ehrin, the series is executive produced by Michael Ellenberg through Media Res, which also serves as the studio, along with Aniston and Kristin Hahn through Echo Films; Witherspoon and Lauren Neustadter through Hello Sunshine. Mimi Leder also serves as executive producer.
"Pachinko" chronicles the hopes and dreams of a Korean immigrant family across four generations as they leave their homeland in an indomitable quest to survive and thrive. Starting in South Korea in the early 1900s, the story is told through the eyes of a remarkable matriarch, Sunja, who triumphs against all odds.
"Pachinko" is written and executive produced by Soo Hugh ("The Terror," "The Killing"), who created the series and serves as showrunner. Kogonada and Justin Chon are executive producers and directed four episodes each. Michael Ellenberg and Lindsey Springer executive produce for Media Res, the studio behind the series; Theresa Kang-Lowe executive produces for Blue Marble Pictures; and Richard Middleton also executive produces. David Kim and Sebastian Lee co-executive produce.
"The Problem with Jon Stewart"
Acclaimed host, writer, producer, director and advocate Jon Stewart, recipient of this year's Mark Twain Prize for American Humor, leads with compassion and humor as he takes a deep dive into some of the most enduring, deeply-entrenched issues of our time in the Apple Original series. "The Problem With Jon Stewart" explores complex topics, such as veteran care and burn pits, preserving individual freedom, how to achieve racial equality, climate change, American economy, the stock market, mainstream media versus sensationalism, and America's gun crisis, through the differing perspectives of stakeholders, experts and individuals confronting these challenges.
"The Problem With Jon Stewart" is hosted and executive produced by Stewart through his Busboy Productions. The series is executive produced by showrunner Brinda Adhikari, alongside Stewart's longtime manager James Dixon, Chris McShane, and Richard Plepler through his Eden Productions, which has an exclusive overall production deal with Apple. Lorrie Baranek is supervising producer, and Kris Acimovic is head writer.
A parody of iconic musicals, "Schmigadoon!" is a new musical comedy series starring Emmy Award nominee Cecily Strong and Emmy Award winner Keegan-Michael Key as a couple on a backpacking trip designed to reinvigorate their relationship when they discover a magical town in which everyone is living in a studio musical from the 1940s. They then discover that they can't leave until they find "true love."
The series hails from Broadway Video and Universal Television, a division of Universal Studio Group, "Schmigadoon!" is co-created by Cinco Paul and Ken Daurio. Paul serves as showrunner and wrote all of the original songs for the series. Robert Luketic directs and co-executive produces. Lorne Michaels and Andrew Singer serve as executive producers, Micah Frank serves as co-executive producer, and star Cecily Strong and Caroline Maroney serve as producers.
"See" is set in a brutal and primitive future, hundreds of years after humankind has lost the ability to see. In season three, almost a year has passed since Baba Voss (Jason Momoa) defeated his nemesis brother Edo and bid farewell to his family to live remotely in the forest. But when a Trivantian scientist develops a new and devastating form of sighted weaponry that threatens the future of humanity, Baba returns to Paya in order to protect his tribe once more.
"See" is executive produced by Steven Knight, Francis Lawrence, Peter Chernin, Jenno Topping, Jim Rowe, Jennifer Yale, Anders Engström and Tropper, who also serves as showrunner. The series is produced by Chernin Entertainment and Endeavor Content.
In "Severance," Mark Scout (Adam Scott) leads a team at Lumon Industries, whose employees have undergone a severance procedure, which surgically divides their memories between their work and personal lives. This daring experiment in "work-life balance" is called into question as Mark finds himself at the center of an unraveling mystery that will force him to confront the true nature of his work … and of himself.
"Severance" is written and created by Dan Erickson. Mark Friedman, Chris Black, John Cameron and Andrew Colville are executive producers alongside Erickson. Ben Stiller, Nicky Weinstock and Jackie Cohn executive produce through Red Hour Productions, and both Patricia Arquette and Adam Scott serve as producers. Endeavor Content serves as the studio.
Jason Sudeikis is Ted Lasso, an American football coach hired to manage a British soccer team — despite having no experience. But what he lacks in knowledge, he makes up for with optimism, underdog determination — and biscuits. The widely acclaimed series also stars Hannah Waddingham, Brendan Hunt, Jeremy Swift, Juno Temple, Brett Goldstein, Phil Dunster, and Nick Mohammed.
In addition to starring, Sudeikis serves as executive producer, alongside Bill Lawrence via his Doozer Productions, in association with Warner Bros. and Universal Television, a division of Universal Studio Group. Doozer's Jeff Ingold also serves as an executive producer, with Liza Katzer as co-executive producer. The series was developed by Sudeikis, Lawrence, Brendan Hunt, and Joe Kelly, and is based on the pre-existing format and characters from NBC Sports.
"They Call Me Magic"
"They Call Me Magic" offers a rare glimpse into the incredible real-life story of Johnson, who left his mark on history through his work — both on and off the court — and continues to impact our culture today. With unprecedented access, the docuseries explores Magic's remarkable journey from being the face of the Los Angeles Lakers and cementing himself as an all-time NBA legend, to changing the conversation around HIV, and transforming into a successful entrepreneur and community activist. From his humble beginnings in Lansing, Michigan to becoming the global force he is today, "They Call Me Magic" charts the cinematic life of one of the biggest cultural icons of our era. The highly anticipated documentary event series explores the remarkable accomplishments and global impact of Johnson's life, both on and off the court.
Directed by Rick Famuyiwa ("Dope") and cinematographer Rachel Morrison ("Black Panther"), the docuseries is produced for Apple by XTR and New Slate Ventures, and produced in association with h.wood Media and Delirio Films.
All programs are currently streaming on Apple TV+.
Apple TV+ is available on the Apple TV app in over 100 countries and regions, on over 1 billion screens, including iPhone, iPad, Apple TV, Mac, popular smart TVs from Samsung, LG, Sony, VIZIO, TCL and others, Roku and Amazon Fire TV devices, Chromecast with Google TV, PlayStation and Xbox gaming consoles, and at tv.apple.com , for $4.99 per month with a seven-day free trial. For a limited time, customers who purchase and activate a new iPhone, iPad, Apple TV, Mac or iPod touch can enjoy three months of Apple TV+ for free.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220712006090/en/
Rita Cooper Lee rcooperlee@apple.com Alexandra Finegersh afinegersh@apple.com
News Provided by Business Wire via QuoteMedia
QNX technology will help power CARIAD's software stack for automated driving
BlackBerry Limited (NYSE: BB; TSX: BB) today announced that CARIAD the Volkswagen Group's software company has selected BlackBerry® QNX® technology as one component of its software platform VW.OS. Announced as part of Volkswagen Group's NEW AUTO strategy, CARIAD is developing a unified software platform that consists of VW.OS, the Volkswagen Cloud VW.AC and a scalable, unified end-to-end electronic architecture. The platform will be available for Volkswagen Group brands from the middle of the decade.
BlackBerry will license its BlackBerry QNX technology to CARIAD, including its QNX® OS for Safety 2.2 . It will be integrated in CARIAD's software platform VW.OS, specifically in the stack for advanced driver assistance systems and automated driving functions (ADAS/AD). Within this ADAS/AD stack of VW.OS, QNX OS for Safety 2.2 will serve as a reliable, safe and secure foundation. As part of the agreement, BlackBerry QNX will also provide professional engineering and consulting services for system-level integration, performance optimization, and solution validation.
"From chip to cloud, BlackBerry QNX is trusted by the world's leading automotive companies for our leading-edge embedded software solutions that deliver safety, reliability and security," said John Wall , SVP and Head, BlackBerry Technology Solutions. "With the industry coalescing around the pursuit of the software-defined vehicle, we look forward to working closely with CARIAD to help enable the cutting-edge cars of the future."
Based on BlackBerry's advanced and secure QNX® Neutrino® real-time operating system (RTOS), QNX OS for Safety is a fully POSIX compliant, open standards-based operating system that embedded developers can use to build safety-critical systems and has been certified to ISO 26262 ASIL D, the automotive industry's highest functional safety standard. With a pre-certified, scalable microkernel RTOS, the solution enables automakers and embedded software developers in a wide variety of industries to accelerate their development timelines and reduce the cost in moving projects from research to production.
BlackBerry's pedigree in safety, security, and continued innovation has led to the use of its QNX technology in production programs with 45 different OEMs, 7/7 of the top Tier 1s and over 215 million vehicles worldwide.
For more information on how BlackBerry QNX can help with building the safe and secure vehicles of tomorrow, please visit: BlackBerry.QNX.com .
About BlackBerry BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 215M vehicles. Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.
For more information, visit BlackBerry.com and follow @BlackBerry.
Trademarks, including but not limited to BLACKBERRY, EMBLEM Design and QNX are the trademarks or registered trademarks of BlackBerry Limited, its subsidiaries and/or affiliates, used under license, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.
BlackBerry Media Relations +1 (519) 597-7273 mediarelations@BlackBerry.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/volkswagen-group-software-powerhouse-cariad-selects-blackberry-qnx-for-its-software-platform-301580242.html
News Provided by PR Newswire via QuoteMedia
Transportation and logistics businesses can now quickly procure and deploy asset monitoring solution across their entire fleet in AWS Marketplace
BlackBerry Limited (NYSE: BB; TSX: BB) today announced that BlackBerry Radar ®, the company's intelligent, data-driven asset monitoring solution purpose-built for the transportation industry, is now available for purchase in AWS Marketplace a curated digital catalog with thousands of software listings from independent software vendors that makes it easy to find, test, buy, and deploy software on Amazon Web Services (AWS).
BlackBerry Radar is an easy-to-install, asset monitoring solution for trailers, chassis and containers that provides near real-time information around location, cargo status, motion, mileage, temperature, humidity, and door open/close status through an intuitive on-line dashboard. All data is transmitted and stored securely on a cloud platform, which maintains the privacy of user information at all times.
Providing fleet owners with unparalleled visibility into their operations to reduce costs and improve asset utilization, the addition of Radar to the Marketplace marks a further expansion of BlackBerry's offerings on AWS, which already includes BlackBerry's AI-Driven Endpoint Protection Platform, CylancePROTECT® , and BlackBerry® UEM , along with two of the company's secure communication solutions, BlackBerry® AtHoc® and SecuSUITE® for Government .
For transportation and logistics businesses, BlackBerry Radar is currently the only asset tracking and monitoring solution available in AWS Marketplace. This provides additional convenience and value to Radar customers at a time of supply chain bottlenecks that show no signs of letting up, and where timely and accurate data that can shed light on opportunities for improved asset utilization have never been more important. With BlackBerry Radar, transportation companies can better manage their assets and drivers to improve overall efficiency and profitability.
"Our customers want easy-to-use software that provides valuable insights into their fleet so they can unlock excess capacity they didn't even know they had," said Christopher Plaat , SVP and GM of BlackBerry Radar, BlackBerry. "With our AWS Marketplace listing, transportation and logistics businesses can now seamlessly purchase and deploy Radar, immediately gaining unparalleled visibility into their operations with a view to boosting productivity and asset utilization, reducing costs and most importantly, improving services to their own customers."
Each BlackBerry Radar device is rugged, and takes only minutes to install, giving business owners virtually instantaneous access to a secure cloud-based dashboard. The solution includes everything necessary to start tracking mobile assets immediately including the device, cellular connectivity, dashboards, mapping, hosted cloud services and more.
For more information on BlackBerry's asset tracking solution please visit BlackBerry.com/Radar find us in AWS Marketplace here .
About BlackBerry BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including 215M vehicles. Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.
For more information, visit BlackBerry.com and follow @BlackBerry.
Trademarks, including but not limited to BLACKBERRY and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved. All other trademarks are the property of their respective owners. BlackBerry is not responsible for any third-party products or services.
Media Contacts: BlackBerry (519) 597-7273 mediarelations@BlackBerry.com
Investor Contact: BlackBerry Investor Relations (519) 888-7465 investor_relations@BlackBerry.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/blackberry-radar-now-available-on-aws-marketplace-301578005.html
News Provided by PR Newswire via QuoteMedia
After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.
Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.
This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.
In terms of digital innovation earnings as a percentage of GDP, for example. Australia stands at 7.4 percent, significantly behind the 11.2 percent average for companies that are part of the Organisation for Economic Cooperation and Development (OECD). According to its September 2021 Policy Primer report, the Australian Academy of Sciences called for the federal government to place greater emphasis on supporting emerging digital technologies.
"Australia risks falling behind as a technologically-driven nation unless we recognise emerging digital technologies as a central, independent sector in its own right, warranting investment in the core aspects of research, innovation, and workforce development," the report stated.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Harold Von Kursk, hold no direct investment interest in any company mentioned in this article.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.