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Electro-Sensors, Inc. Announces Second Quarter 2024 Financial Results

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MINNETONKA, Minn., Aug. 9, 2024 /PRNewswire/ — Electro-Sensors, Inc. (NASDAQ: ELSE), a leading global provider of machine monitoring sensors and hazard monitoring systems, today announced financial results for the second quarter ended June 30, 2024.

Quarterly revenue of $2,217,000, up 3.7% from the prior-year periodGross margin of 47.2%Cash and investments of approximately $9.9 million

Selected Financial Information (unaudited; in thousands, except per share data)

Q2 2023

Q2 2022

Change

Net Sales

$

2,217

$

2,137

3.7

%

Gross Margin

47.2

%

50.0

%

-280

bps

Operating Income (Loss)

$

(107)

$

44

(343.2)

%

Operating Income Margin

(4.8)

%

2.1

%

-690

bps

Income (Loss) Before Income Taxes

$

2

$

138

(98.6)

%

Earnings Per Share (diluted)

$

0.00

$

0.03

(100.0)

%

Net sales in the second quarter increased 3.7% to $2,217,000 from $2,137,000 in the prior-year quarter.  For the first six months of 2024, net sales increased 6.7% to $4,461,000 from $4,182,000 in the comparable prior-year period.  Furthermore, gross margin for the 2024 six-month period was 47.7%, down from 50.0% in the corresponding six months in 2023, primarily due to increased material and labor costs across all product lines.

“During the 2024 second quarter, our sales increased 3.7% from the comparable prior-year period, primarily due to increased sales of our HazardPROTM wireless hazard monitoring systems,” said David L. Klenk, Electro-Sensors’ president.  “Customers continue to value the ease of installation, flexibility, and favorable overall cost of ownership of our HazardPRO systems.”

A full analysis of results for the period ended June 30, 2024 is available in the Company’s Form 10-Q, which is available on the Company’s website at www.electro-sensors.com or through the Securities and Exchange Commission’s Edgar database at www.sec.gov.

 

Electro-Sensors, Inc.

Statements of Income

For the Three and Six Months Ended June 30, 2024 and 2023 (unaudited)

(in thousands except share and per share amounts)

Three Months Ended June 30,

2024

2023

Sales

$

2,217

$

2,137

Cost of goods sold

1,170

1,069

Gross profit

1,047

1,068

Operating expenses

1,154

1,024

Operating income (loss)

(107)

44

Non-operating income, net

109

94

Income before income taxes

2

138

Provision for income taxes

6

22

Net income (loss)

$

(4)

$

116

Earnings (loss) per share – diluted

$

0.00

$

0.03

Average shares outstanding – diluted

3,428,021

3,443,394

Six Months Ended June 30,

2024

2023

Sales

$

4,461

$

4,182

Cost of goods sold

2,334

2,092

Gross profit

2,127

2,090

Operating expenses

2,334

2,184

Operating income (loss)

(207)

(94)

Non-operating income, net

225

187

Income before income taxes

18

93

Provision for income taxes

11

21

Net income

$

7

$

72

Earnings per share – diluted

$

0.00

$

0.02

Average shares outstanding – diluted

3,428,021

3,443,930

 

Electro-Sensors, Inc.

Balance Sheets

June 30, 2024 and December 31, 2023

(in thousands)

June 30,

December 31,

2024

2023

Assets

(unaudited)

Current Assets

Cash and investments

$

9,944

$

9,926

Trade receivables, net

1,180

1,283

Inventories

1,865

1,751

Other current assets

218

179

Total current assets

13,207

13,139

Deferred income tax asset, long-term

330

355

Property and equipment, net

930

951

Total assets

$

14,467

$

14,445

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$

638

$

690

Total current liabilities

638

690

Stockholders’ equity

Common stock

342

342

Additional paid-in capital

2,297

2,230

Retained earnings

11,190

11,183

Total stockholders’ equity

13,829

13,755

Total liabilities and stockholders’ equity

$

14,467

$

14,445

About Electro-Sensors

Electro-Sensors, Inc. is an industry leading designer and manufacturer of rugged and reliable machine monitoring sensors and wireless/wired hazard monitoring systems applied across multiple industries and applications. These products improve processes by protecting people, safeguarding systems, reducing downtime, and preventing waste. Electro-Sensors is proud to be an ISO9001:2015 quality certified company and is committed to providing excellent customer service and technical support. Founded in 1968 and located in Minnetonka, Minnesota, Electro-Sensors provides its loyal customers with reliable products that improve safety and help plants operate with greater efficiency, productivity and control.

Cautionary Statement Regarding Forward Looking Statements

This press release may include statements about possible or anticipated future financial performance, business activities, plans, or opportunities.  These forward-looking statements may include the words “will,” “should,” “believes,” “expects,” “anticipates,” “intends” or similar expressions.  For these forward-looking statements, the Company claims the protection of the safe harbor for forward−looking statements contained in federal securities laws.  Forward-looking statements reflect the company’s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact.  These forward-looking statements are subject to a number of factors, risks and uncertainties, including those disclosed in our periodic filings with the SEC that could cause actual performance, activities, plans, or opportunities after the date the statements are made to differ significantly from those indicated in the forward-looking statements.

For more information please visit our website at: www.electro-sensors.com. Also look us up on:
LinkedIn: linkedin.com/company/electro-sensors-inc-
X: x.com/ESIsensors
Facebook: facebook.com/ElectroSensors

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SOURCE Electro-Sensors, Inc.

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DJI Dock Powers Australia’s Broad Area BVLOS Rollout Across Mining and Agriculture

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SHENZHEN, China, July 24, 2026 /PRNewswire/ — Australia’s approach to Beyond Visual Line of Sight (BVLOS) drone operations has entered a new phase. Since the Civil Aviation Safety Authority (CASA) introduced its TMI 2025-03 policy, qualified Remote Operator Certificate (ReOC) holders have been able to self-assess and secure broad area BVLOS approvals — cutting what was once a months-long approval process down to days or weeks. DJI Dock, with its automated, remote-operated capability, has become a key enabler for operators across mining, agriculture and beyond looking to capitalise on this regulatory shift.

Under the TMI 2025-03 framework, CASA offers four standardised pathways: A1 and A2 for RPA with a physical dimension of less than 1 metre, and B1 and B2 for RPA with a physical dimension between 1 and 3 metres. Rather than applying for site-specific approval on a per-project basis, qualified operators can now self-assess whether an operating area meets the defined criteria and proceed accordingly. This has reduced typical approval timelines from six to twelve months down to a matter of days or weeks in many cases. Mining, agriculture, energy, infrastructure and emergency services have been identified as the sectors set to benefit most, and a growing number of operators have already been certified under the framework, with more applications progressing through the pipeline — reflecting rising industry confidence in the new pathway.

In the mining sector, this regulatory shift is already translating into measurable operational gains. Large-scale mine sites often span vast, remote terrain, where routine pit monitoring, surveying and emergency response have traditionally required significant on-site resourcing — a challenge Broad Area BVLOS is now helping operators address. At mine sites operated by BMA and Rio Tinto, RocketDNA’s xBot system supports pit monitoring, emergency response and surveying missions under its own Broad Area BVLOS capability. RocketDNA has also achieved BARS Gold Certification, a safety standard widely required by Tier 1 mining companies. Its Perth and Adelaide-based Remote Operations Centres (ROC) now runs BVLOS operations around the clock, completing approximately 4,500 flights per month – reflecting the growing maturity of BVLOS operations across the sector.

Agriculture is expected to be the next sector to benefit significantly from this shift. From crop monitoring to livestock and paddock inspection, the ability to operate BVLOS across broader areas removes a constraint that has historically limited large-scale agricultural drone deployment. Unlike mining sites, which are typically confined to a single, well-defined lease area, agricultural operations often span multiple properties across a region — making the ability to cover broad areas under a single approval especially valuable for operators serving the sector at scale. DJI is working with a number of Australian agricultural drone operators to explore real-world applications in this space, with further case studies to be announced in the coming months.

Underpinning much of this progress is the capability of DJI’s Dock 3 and FlightHub 2 platform. Dock 3 supports operations at ranges of up to 10 kilometres and is built to operate reliably across a wide temperature range, from -25°C to 45°C, suited to the demands of remote, harsh-environment deployment across Australia. FlightHub 2 adds AI-assisted detection and automated reporting, further reducing the coordination overhead for operators managing multiple sites and helping turn a single approval into a genuinely scalable operating model.

As CASA continues to modernise its regulatory framework, Australia is shifting from a market where only individual projects could fly BVLOS, to one where a growing number of operators can scale standardised, broad area operations. This shift is unlocking new efficiencies for operators across mining, agriculture and beyond, and marks a new phase in the scaled deployment of autonomous drone infrastructure across the Australian market.

Learn more:
https://enterprise-insights.dji.com/blog/a-new-era-for-australian-aviation-unlocking-the-true-potential-of-bvlos

About DJI

Since 2006, DJI has led the world with civilian drone innovations that have empowered individuals to take flight for the first time, visionaries to turn their imagination into reality, and professionals to transform their work entirely. With a solution-oriented mindset and genuine curiosity, DJI has expanded its ambitions into areas such as renewable energy, agriculture, public safety, surveying and mapping, and infrastructure inspection. In every application, DJI products deliver experiences that add value to lives in more profound ways than ever before. 

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SOURCE DJI

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VYLIT OPENS ITS CREATOR ADVISORY BOARD, GIVING CREATORS EQUITY IN THE PLATFORM

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Reality star & chef Dom DeAngelis, model & creator Cydney Moreau, and creator-entrepreneur Crystal Jackson named as founding members, with applications now open for creators who want a voice in how the platform is shaped

MIAMI, July 23, 2026 /PRNewswire/ — Vylit, the 18+ creator-first social platform co-founded by Ami Gan, former CEO of OnlyFans, and seasoned entrepreneur Kailey Magder, is opening applications for its Creator Advisory Board, which will include a select group of creators that will have a strong voice in shaping the platform they use and earn on.

Vylit is inviting creators not just to join the platform, but to help build it, with real shares in the company reserved for those who contribute to its growth, culture and direction. The Creator Advisory Board will give creators a direct voice in building Vylit’s community, the platform’s development and creator tools, along with ownership in the business they’re helping grow.

Applications are now open. Creators can apply by emailing vylit@vylitworld.com with their name, bio and social handles.

Vylit is launching the board with three founding members who show the range of creators it’s built for.

Dominic DeAngelis, known from YouTube and Vanderpump Villa, where his culinary skills earned recognition from viewers around the world, has been using the platform to share behind-the-scenes and day-in-the-life content with his subscribers — the kind of direct, monetized relationship with fans that Vylit is designed around.

“Social media sucks right now. The algorithms are negative, you don’t even see the people you follow anymore, and creators are struggling to find real connections with their fans,” said DeAngelis. “I’m thrilled to be part of a platform that’s doing it differently. Vylit is actually listening to creators and building with us, not just for us.”

Cydney Moreau, a Louisiana-born former track athlete turned model and creator with a following across fitness, fashion and lifestyle, balances her work with life as a mom. Vylit is where she’s turning that following into a business for the first time, on her own terms.

“As someone who is monetizing my content for the first time, knowing that I will have a say in how the platform treats other creators means everything,” said Moreau. “It’s not every day a platform actually wants creators in the room while they’re building it. Knowing Vylit is making decisions with our interests at heart gives me the confidence to build here, and I’m excited to help shape where this goes.”

Crystal Jackson, known to millions of followers as Mrs. Poindexter, is the co-founder of EssentL, a company building business infrastructure and benefits for creators. A former engineer turned multi-platform creator and entrepreneur, she brings an operator’s understanding of what creators actually need from the platforms they build on.

“I’ve spent years building an audience and a business across platforms that weren’t built for today’s creator ecosystem,” said Jackson. “What drew me to Vylit is that they’re handing creators actual ownership and a real say in the decisions that affect us. That’s not something I’ve seen anyone else do, and I want to help build it right.”

Since launching, Vylit has positioned itself as the “HBO of social media,” a space between traditional social media and adult subscription platforms, where creators can be expressive, marketable and in control. The Creator Advisory Board takes that further. Rather than building the platform for creators and handing it over, Vylit is building it with them, giving them direct ownership and a say in its direction.

“The users driving value should have a say in the business,” said Ami Gan, Co-Founder and CEO of Vylit. “Creators understand culture and digital monetization better than anyone. At Vylit, that expertise earns them a real seat at the table.”

“We didn’t want to build another platform where creators show up after the fact,” added Kailey Magder, Co-Founder and COO of Vylit. “We want them involved from day one, shaping the product, the community and the direction of the business.”

Vylit truly puts creators in charge, giving them real ownership and a direct say in how the platform evolves. The Creator Advisory Board is just the start.

To learn more, visit https://vylitworld.com/ 

To access the media kit, click here.

ABOUT VYLIT
Vylit is an 18+ creator-first social platform redefining how adults share, discover and monetize content. Co-founded by Amrapali (Ami) Gan and Kailey Magder, Vylit was created to fill the gap between traditional social media and creator platforms, offering a premium digital experience for expression. Built as “the HBO of social media,” the platform allows topless content while prohibiting explicit material, giving creators greater freedom. Vylit combines social connectivity with built-in monetization, interest-based discovery through its Vybe Matching Engine, and in-house AI Image Generation and Chat tools designed for its users. Learn more at www.vylitworld.com.

FOR PRESS INQUIRIES
pr@vylitworld.com 

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SOURCE Vylit World

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CNBC Names PayJoy one of the World’s Top FinTech Companies of 2026

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Recognition highlights PayJoy’s leadership in emerging market consumer finance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — CNBC and Statista have named PayJoy to the “World’s Top Fintech Companies 2026,” which honors companies providing digital funding and bank-independent lending solutions for individuals and businesses. PayJoy is a leading financial services provider for underserved consumers across emerging markets.

Now in its fourth edition, the ranking identifies 500 leading companies across eight fintech market segments worldwide, including Payments, Neobanking, Wealth Technology, Digital Assets, Enterprise Fintech, Insurtech, Regtech, and Alternative Financing. Companies were evaluated using an aggregated scoring model built on both general and segment-specific KPIs, drawing on desk research from publicly available sources alongside company self-reports submitted through an open application process.

PayJoy’s inclusion reflects its work bringing credit access to the emerging middle class in Mexico, Colombia, Brazil, Panama, Peru, Ecuador, South Africa, the Philippines, and Indonesia, nine countries where traditional financial infrastructure has long excluded first-time borrowers.

“This recognition from CNBC and Statista is a meaningful validation of the work our team does every day,” said Doug Ricket, PayJoy CEO and Co-Founder. “Millions of people across the markets we serve are building credit for the first time through PayJoy. Being named among the world’s top fintech companies reflects the scale and impact of that work.”

For more information on the full ranking, visit https://www.cnbc.com/worlds-top-fintech-companies-2026/ 

About PayJoy
PayJoy expands credit access across emerging markets through point-of-sale financing and card offerings. Its proprietary secured-credit technology enables first-time borrowers to responsibly build financial stability and participate fully in the modern economy. Through its cutting-edge machine learning, data science, and anti-fraud AI, PayJoy has financed over $3.5 billion of loans to more than 20 million people and employs over 1,000 people worldwide. For more information, visit https://www.payjoy.com/ 

Contact
payjoy@thekeypr.com

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