HERZLIYA, Israel - Beamr Imaging Ltd. (NASDAQ:BMR), a company specializing in video optimization technology, announced today its collaboration with NVIDIA Corporation (NASDAQ:NVDA) to present joint research at the ACM Mile-High-Video 2024 conference in Denver, Colorado. The research focuses on an automated process for modernizing video libraries to the emerging AOMedia Video 1 (AV1) format, addressing the challenges of adopting this more efficient standard.
The AV1 format, supported by tech industry leaders such as Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL), and Microsoft (NASDAQ:MSFT), offers improved efficiency but has seen slow adoption due to the complexity and cost of upgrading existing video libraries. The collaboration between Beamr and NVIDIA introduces a solution that leverages NVIDIA's hardware-accelerated AV1 encoding to facilitate the transition without compromising video quality or increasing costs.
Beamr's CTO, Tamar Shoham, will present the findings, including the company's Content-Adaptive-Bitrate technology, which is backed by 53 patents and aims to automate the conversion process while maintaining high video quality. This technology is poised to help industries like AI, machine learning, and content streaming to modernize their video formats efficiently.
In addition to the research presentation, Beamr is set to launch a new video cloud service on February 20, 2024, which will be powered by NVIDIA and hosted on Amazon's AWS. This service is designed to simplify video processing and make it more accessible and affordable. A webinar with Beamr CEO Sharon Carmel will be held on the same day to discuss the launch and the company's Q2 roadmap.
This announcement is based on a press release statement.
InvestingPro Insights
As Beamr Imaging Ltd. (NASDAQ:BMR) gears up to revolutionize video optimization with its latest collaboration, the financial metrics provided by InvestingPro offer a snapshot of the company's market positioning. With a Market Cap of $27.18 million and a high Gross Profit Margin of 96.57% for the last twelve months as of Q2 2023, Beamr demonstrates a strong ability to retain revenue after the cost of goods sold. Despite a challenging revenue growth rate of -10.25% in the same period, the company's recent partnership with NVIDIA and the upcoming launch of a new video cloud service could signal a strategic pivot towards future growth.
Investors may also take note of the company's Price / Book ratio of 2.73, suggesting that the market values the company at nearly three times its book value. This could be indicative of the market's expectations for future growth or the intangible assets and intellectual property that Beamr holds. Additionally, with an InvestingPro Fair Value estimate of $1.25, there may be an opportunity for investors to engage with the stock at a value perceived to be closer to its intrinsic worth.
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