Skip to main content

Crown Electrokinetics First Quarter 2022 Earnings Call Management Highlights

Written by Customer Service on . Posted in Public Companies.

Los Angeles, California, May 17, 2022 (GLOBE NEWSWIRE) — Crown Electrokinetics Corp. (NASDAQ: CRKN) (“Crown” or the “Company”), a leading smart glass technology company, reported today its financial results for the first quarter 2022 in an earnings call held on May 13, 2022.

Mr. Doug Croxall, Crown’s CEO and Mr. Joel Krutz, CFO, shared with the Company shareholders and industry analysts, the results of the first quarter ending March 31, 2022. In addition to earnings updates, the call also included updates to financing, vertically integrated production, organizational restructuring, and first-generation product delivery.

Call highlights:

  • Mr. Croxall delivered a detailed description of the product feature set and capabilities for the first generation and expected second generation Smart Window Inserts™.
  • In 2021, the Company decided to vertically integrate the manufacturing of its electrokinetic film to eliminate dependency on third parties. The benefits expected are increased time to market, increased profit margins, and protection of its intellectual property.
  • The first-generation Smart Window Inserts™, using the 12-inch-wide film, will be manufactured in the Company’s Oregon facilities and are expected to be delivered Summer 2022.
  • In preparation for the production phase, Crown promoted Mr. Eddie Gordon to Vice President of Operations, where he will be in charge of leading the transition from research and development to manufacturing.
  • Initial installations are expected to be in office buildings located in Houston, Los Angeles, San Jose, Philadelphia, Washington DC, and Austin.
  • On April 4th, the company received a third party Valuation report of its intellectual property. Crown’s IP valuation indicated a combined patent and trade secret fair market value (FMV) of $94.4 Million.
  • Mr. Joel Krutz, CFO, in reporting the Company financials, explained that a number of one-time events had driven an increase in the Q1 2022 operating expenses. Mr. Krutz also announced that recent organizational restructuring efforts would yield approximately $2.5 million in annualized savings.

Investors can access a copy of the Earnings Call Transcript and the filed Form 10-Q in the Company Website or by Clicking this link:  Earnings Call and Form 10-Q for the First Quarter 2022

About Crown Electrokinetics

Crown is a smart glass technology company and the creator of DynamicTint™ We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the core of our technology is a thin film that is powered by electrically charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio.

Safe Harbor Statement: Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Crown Electrokinetic Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Crown Electrokinetics

IR Email: info@crownek.com
Source: Crown Electrokinetics: www.crownek.com 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.