Technology
Senstar Technologies Corporation
Published
2 years agoon
By
Reports Second Quarter 2024 Financial Results
Business momentum remains strong; Senstar MultiSensor fully launched for sale
Continued focus on optimizing working capital and delivering positive cash from operations
OTTAWA, ON, Aug. 26, 2024 /PRNewswire/ — Senstar Technologies Corporation (NASDAQ: SNT), a leading international provider of comprehensive physical, video and access control security products and solutions, today announced its financial results for the three and six months ended June 30, 2024. Management will hold an investors’ conference call later today (at 5 p.m. Eastern Time) to discuss the results.
Second Quarter 2024 Summary:
(Results for the three months ended June 30, 2024 compared to the three-months ended June 30, 2023.)
Revenue of $8.3 million with gross margin of 63.2% versus revenue of $8.4 million with gross margin of 60.7%
Operating expenses declined by 9.1% to $4.6 million versus $5.0 million in 2023
Net income of $493,000 versus $275,000
EBITDA of $846,000 versus $290,000
Cash balance increased to $15.1 million, with no debt, as of June 30, 2024
Mr. Fabien Haubert, CEO of Senstar Technologies, stated, “We are encouraged by the strong order momentum in the first half of 2024. Second quarter revenue of $8.3 million was on par with the prior year quarter, reflecting typical order timing variability. Our gross margin reached 63.2%, the highest in eight quarters, thanks to the cost realignments and price adjustments we made last year, which also improved our operating margin. As a result, net income rose to $493,000 and EBITDA margin increased to 10.2% of revenue. Our balance sheet strengthened with higher cash reserves and reduced inventory, enhancing our working capital.”
Mr. Haubert continued, “We delivered solid growth in our four key verticals, which rose 5% in the second quarter and 14% year-to-date. In terms of product development, we are thrilled to announce that our latest innovation, the MultiSensor, is now available for sale and generating substantial market interest. The MultiSensor represents a critical growth driver in our four verticals and opens the potential to address largervolume markets.”
Second Quarter 2024 Financial Results Summary
Revenue for the second quarter of 2024 was $8.3 million, a decrease of 1.6% compared with $8.4 million in the second quarter of 2023. Second quarter gross profit was $5.2 million, or 63.2% of revenue, compared with $5.1 million, or 60.7% of revenue, in the year ago quarter. The increase in gross margin was primarily due to product mix and price increases in the fourth quarter of 2023.
Operating expenses were $4.6 million, a decrease of 9.1% compared to the prior year’s second quarter operating expenses of $5.0 million. The decrease in operating expenses is primarily attributable to the streamlining of our corporate structure and realignment of resources implemented in 2023.
Operating income for the second quarter of 2024 was $666,000 compared to $83,000 in the year-ago period. The improvement is primarily attributable to higher gross profit and lower operating expenses both on a dollar basis and as a percentage of revenue.
Financial income was $103,000 compared to financial expense of ($74,000) in the second quarter last year.
Net income in the second quarter of 2024 was $493,000 million, or $0.02 per share, versus $275,000, or $0.01 per share, in the second quarter of last year.
EBITDA for the second quarter of 2024 was $846,000 versus $290,000 in the second quarter of 2023.
Cash, cash equivalents and short term bank deposits as of June 30, 2024 were $15.2 million, or $0.65 per share, compared with $14.9 million, or $0.64 per share, at December 31, 2023.
About our Non-GAAP Financial Information
The Company reports financial results in accordance with U.S. GAAP and also provides a non-GAAP measure, EBITDA. This non-GAAP measure is not in accordance with, nor is it a substitute for, GAAP measures. This non-GAAP measure is intended to supplement the Company’s presentation of its financial results that are prepared in accordance with GAAP. The Company uses EBITDA to evaluate and manage the Company’s operations internally. The Company is also providing this information to assist investors in performing additional financial analysis. Reconciliation between the Company’s results on a GAAP and non-GAAP basis is provided in the table below.
Earnings Conference Call Information:
The Company will host a conference call later today, August 26, 2024. The call will begin promptly at 5 p.m. Eastern Time, 10 p.m. UK Time. The Company requests that participants dial in 10 minutes before the conference call commences and use the conference ID number 13748488.
Participant Dial-in Numbers:
Toll Free: 1-877-407-9716
Toll/International: 1-201-493-6779
UK Toll Free: 0 800 756 3429
The conference call will also be available via a live webcast at https://viavid.webcasts.com/starthere.jsp?ei=1684587&tp_key=696d15d416.
Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13748488
A replay of the call will be available on Monday, August 26, 2024, after 7:00 p.m. Eastern time through Monday, September 9, 2024, at 11:59 p.m. Eastern time, and available on the Senstar Technologies website at https://senstar.com/investors/investor-events/.
About Senstar Technologies Corporation
With innovative perimeter intrusion detection systems (including fence sensors, buried sensors, and above ground sensors), intelligent video-management, video analytics, and access control, Senstar offers a comprehensive suite of proven, integrated solutions that reduce complexity, improve performance, and unify support. For 40 years, Senstar has been safeguarding people, places, and property for organizations around the world, with a special focus on utilities, logistics, correction facilities and energy markets.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario), which we refer to collectively as forward-looking statements. These forward-looking statements are not limited to historical facts, but reflect Senstar’s current beliefs, expectations or intentions regarding future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including those risks discussed under the heading “Risk Factors” in Senstar’s most recent Annual Report on Form 20-F filed with the SEC and in other filings with the SEC. These forward-looking statements are made only as of the date hereof, and, except as required by applicable law or regulation, Senstar undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Logo: https://mma.prnewswire.com/media/1713105/3503459/Senstar_Technologies_Logo.jpg
For more information:
Senstar Technologies Corporation
Alicia Kelly
Chief Financial Officer
alicia.kelly@senstar.com
IR contact:
Hayden IR
Kim Rogers
Managing Director
kim@haydenir.com
+1-541-904-5075
— Tables follow —
SENSTAR TECHNOLOGIES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All numbers except EPS expressed in thousands of US$)
Three Months
Ended June 30,
Six Months
Ended June 30,
2024
2023
% change
2024
2023
% change
Revenue
8,306
8,441
(2)
15,817
14,886
6
Cost of revenue
3,059
3,317
(8)
6,091
6,169
(1)
Gross profit
5,247
5,124
2
9,726
8,717
12
Operating expenses:
Research and development, net
1,060
1,035
2
2,042
2,075
(2)
Selling and marketing
2,257
2,625
(14)
4,352
5,071
(14)
General and administrative
1,264
1,381
(8)
2,739
3,221
(15)
Total operating expenses
4,581
5,041
(9)
9,133
10,367
(12)
Operating income (loss)
666
83
593
(1,650)
Financial income (expenses), net
103
(74)
157
(34)
Income (loss) before
income taxes
769
9
750
(1,684)
Taxes on income (tax benefits)
276
(266)
1,003
(84)
Net income (loss) attributable to
Senstar’s shareholders
493
275
(253)
(1,600)
Basic and diluted net income
(loss) per share
$0.02
$0.01
($0.01)
($0.07)
Weighted average number
of shares used in computing
basic and diluted net income
(loss) per share
23,309,987
23,309,987
23,309,987
23,309,987
SENSTAR TECHNOLOGIES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(All numbers except EPS expressed in thousands of US$)
Three Months
Ended June 30,
Six Months
Ended June 30,
2024
%
2023
%
2024
%
2023
%
Gross margin
63.2
60.7
61.5
58.6
Research and development, net as a % of
revenues
12.8
12.3
12.9
13.9
Selling and marketing as a % of revenues
27.2
31.1
27.5
34.1
General and administrative as a % of
revenues
15.2
16.4
17.3
21.6
Operating margin
8.0
1.0
3.7
–
Net margin
5.9
3.3
–
–
SENSTAR TECHNOLOGIES CORPORATION
RECONCILIATION OF EBITDA TO NET INCOME (LOSS)
(All numbers expressed in thousands of US$)
Three Months
Ended June 30,
Six Months
Ended June 30,
2024
2023
2024
2023
GAAP income (loss)
493
275
(253)
(1,600)
Less:
Financial income (expenses), net
103
(74)
157
(34)
Taxes on income (tax benefits)
276
(266)
1,003
(84)
Depreciation and amortization
(180)
(207)
(367)
(530)
EBITDA
846
290
960
(1,120)
SENSTAR TECHNOLOGIES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All numbers expressed in thousands of US$)
June 30,
December 31,
2024
2023
CURRENT ASSETS:
Cash and cash equivalents
$15,099
$14,806
Short-term bank deposits
112
116
Restricted cash and deposits
5
6
Trade receivables, net
8,600
9,545
Unbilled accounts receivable
225
240
Other accounts receivable and prepaid expenses
2,993
2,448
Inventories
5,474
7,178
Total current assets
32,508
34,339
Long term ASSETS:
Deferred tax assets
1,370
1,525
Operating lease right-of-use assets
669
842
Total long-term assets
2,039
2,367
PROPERTY AND EQUIPMENT, NET
1,490
1,589
INTANGIBLE ASSETS, NET
670
881
GOODWILL
10,771
11,090
Total assets
$47,478
$50,266
SENSTAR TECHNOLOGIES CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All numbers expressed in thousands of US$)
June 30,
December 31,
2024
2023
CURRENT LIABILITIES:
Trade payables
$1,095
$1,650
Customer advances
148
187
Deferred revenues
2,488
2,878
Other accounts payable and accrued expenses
4,650
5,052
Short-term operating lease liabilities
266
297
Total current liabilities
8,647
10,064
LONG-TERM LIABILITIES:
Deferred revenues
1,420
1,415
Deferred tax liabilities
600
606
Accrued severance pay
286
296
Long-term operating lease liabilities
435
580
Other long-term liabilities
91
113
Total long-term liabilities
2,832
3,010
TOTAL SHAREHOLDERS’ EQUITY
35,999
37,192
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$47,478
$50,266
View original content:https://www.prnewswire.com/news-releases/senstar-technologies-corporation-302230708.html
SOURCE Senstar Technologies Corporation
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Kidney Patients Back Bipartisan Bill to Expand Disability Employment
Published
19 minutes agoon
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U.S. Representatives Hoyer and Sessions Lead AbilityOne Modernization Bill
Kidney Disease and Jobs are Focus of National Disability Employment Month
WASHINGTON, Oct. 23, 2026 /PRNewswire/ — The American Association of Kidney Patients (AAKP), the nation’s oldest and largest independent kidney patient advocacy organization, today announced plans to accelerate national grassroots patient advocacy in support of bipartisan legislation that will modernize the federal AbilityOne program. The American Procurement Improvement Act (APIA), H.R. 10443, is championed by U.S. Representatives Pete Sessions (R-TX) and Steny Hoyer (D-MD). AAKP defines kidney disease as both an American healthcare and workforce issue and fights to expand career opportunities and job protections for all Americans impacted by kidney disease, disabilities, and chronic diseases.
The AbilityOne program creates private sector employment opportunities for over 41,000 Americans with severe vision and other disabilities, including nearly 3,000 American Veterans. In FY 2025, the program generated nearly 48 million direct labor hours, an 8 percent increase and a significant measure of disability employment growth, with workers working and working more hours. AbilityOne delivered more than $4.7 billion in products and services to the Federal government in FY 2025 and drew discouraged workers into the U.S. labor force while supporting greater workforce participation, increasing economic independence, and self-sufficiency. The AbilityOne mission taps the underutilized workforce of people with significant disabilities to deliver high-quality, mission-essential products and services to federal agencies, including the U.S. Department of Defense and the U.S. Department of Homeland Security.
The APIA legislation removes outdated statutory barriers to hiring, retention, advancement, and movement into careers of choice, including emerging fields and new lines of business. It also modernizes federal procurement by aligning AbilityOne with contemporary procurement practices and streamlines procurement processes so the program can respond faster to emerging federal agency priorities. The APIA legislation protects taxpayer interests, strengthens program accountability and stewardship by preserving oversight, transparency, and worker protections while modernizing AbilityOne Commission authorities. The legislation is seen as an opportunity to improve federal procurement and strengthen the federal government’s domestic supplier base.
Over 36 million Americans live with kidney disease, over 600,000 are on dialysis, and nearly 100,000 are awaiting a kidney transplant. Further, interrelated cardiovascular, kidney, and metabolic diseases have impacted more than 25% of the adult population and are a leading cause of death. More broadly, the American Heart Association estimates that 90% of U.S. adults, or about 240 million people, have some degree of interconnected cardiovascular, kidney, or metabolic health conditions. For kidney patients dependent upon status-quo, in-center hemodialysis, burdensome thrice-weekly dialysis sessions force many patients, against their own choosing, into unemployment, disability, and dependency. AAKP believes dialysis-related unemployment, and the associated costs borne by families and taxpayers, is one of the media’s least-reported stories in legacy kidney care. AAKP’s policy agenda focuses on transplant readiness, more opportunities for organ transplants, more flexible, patient-centered home dialysis solutions, and stronger job protections for both kidney patients and living organ donors.
AAKP President Edward V. Hickey, III, a chronic kidney disease patient, stated, “AAKP strongly endorses the American Procurement Improvement Act (APIA) and expresses our deepest gratitude to Representatives Steny Hoyer and Peter Sessions for their bipartisan leadership and commitment to Americans managing disabilities and their efforts to secure meaningful employment opportunities with solid wages. People impacted by disability and chronic diseases face tremendous hurdles to continued employment and return to the workforce – especially America’s proud Veterans. This legislation reflects consensus language among stakeholders, including advocates, employers, and organized labor, and sends a very positive message, amid national economic concerns, that the voices and needs of disabled Americans and their families are heard and not forgotten by the U.S. Congress. We encourage Congress to step up and pass this legislation before the close of the year.” Hickey is a U.S. Marine Corps Veteran, a former senior congressional aide, and has served in appointed roles in two presidential administrations, including the U.S. Department of Commerce (DOC) and the U.S. Office of Personnel Management (OPM). At OPM, he was heavily involved in policy issues related to federal Veterans preference in civil service hiring and expanded federal job opportunities. He currently serves on the American Board of Internal Medicine’s (ABIM) Nephrology Specialty Board and as the Chair of the AAKP Veterans Health Initiative, the largest kidney health outreach program outside of the U.S. Department of Veterans Affairs.
October is National Disability Employment Month, and AAKP and its allies remind elected and appointed government leaders to address health and employment concerns that impact patients, families, and communities. Through multiple partnerships, AAKP leads the kidney community in providing kidney patients and transplant recipients, including Veterans, access to virtual job fairs and employment skills training opportunities. AAKP is currently sponsoring virtual job fairs, in partnership with CareerEco, on January 13, 2027, and May 18, 2027, that will service Veterans and military families. AAKP’s past collaborations have included webinars with Idealist and virtual disability and Veteran hiring fairs with Bender Consulting.
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In 2018, with bipartisan support from Congress and the Trump Administration, AAKP and transplant professionals worked with the U.S. Department of Labor’s (DOL) legal team and the DOL Wage and Hour Division to have DOL issue Family and Medical Leave Act (FMLA) protections for living organ donors, based on the original intent of the FMLA’s Congressional co-sponsors (click here to read the letter and click here to watch the video). Congressional passage of the LDPA in 2026 will codify the DOL’s 2018 FMLA job protections and prohibit insurers from discriminating against living donors. Increased living organ donation, improved transplant readiness among kidney patients, and greater opportunities for transplantation have been national goals for decades and were reinforced in 2019 through the Executive Order on Advancing American Kidney Health.
Follow AAKP on social media at @kidneypatient on Facebook, @kidneypatients on X, and @kidneypatients on Instagram, and visit https://aakp.org/ for more information. AAKP patient advocates advance bipartisan kidney policy including: passage of the bipartisan law modernizing the Organ Procurement and Transplantation Network (OPTN) (2023); lifetime transplant drug coverage for kidney patients (2020); the historic Executive Order on Advancing American Kidney Health signed by President Donald Trump (2019); job protections for living organ donors under the Family Medical Leave Act (FMLA) via the U.S. Department of Labor (2018); and Congressional approval of HIV positive organ transplants for HIV positive patients (2013).
MEDIA CONTACT:
Brendan LaCivita
National and Medical Media Specialist
blacivita@aakp.org
(813) 906-7740
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SOURCE American Association of Kidney Patients
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BRISTOL, Pa., Oct. 23, 2026 /PRNewswire/ — BioVid, a life science consultancy, today announced the launch of BioVid Mimetics™, a research platform that gives pharmaceutical teams mimetics: synthetic physician audiences modeled on how those audiences reason and decide. Its respondent models are grounded in BioVid’s proprietary MindSet Modeling™ program, large-scale, multi-specialty surveys of practicing physicians that measure the mindsets shaping how they process information, make judgments, and decide. The models are aligned with secondary data on clinical practice, moving beyond generic AI role-play to model the decision logic behind treatment choices.
Prescribing data shows what physicians choose, not why. Pharma teams now face more of those “why” questions than research budgets and timelines can absorb. BioVid Mimetics™ applies the social and behavioral science of clinical judgment to model how physicians interpret evidence, weigh benefit against risk, and decide when they know enough to act.
The name comes from pharmacology, where a mimetic earns trust by doing the work of the original molecule. Every BioVid mimetic is tested against that standard, bringing the firm’s long-standing commitment to science-based research to a new method.
“At BioVid, we’ve always believed that better commercial decisions start with a deeper understanding of human behavior,” said Peggy Hirtle, CEO of BioVid. “Our goal was never simply faster or cheaper respondents. It was to reflect how physicians actually reason, with the same scientific rigor clients already trust from BioVid. Mimetics is a new way to put human understanding to work, never a replacement for it.”
“A synthetic respondent can sound right and still reason wrong. The real test is whether it reasons the way the audience does,” said Marco Barcella, Executive Director, Product & Technology at BioVid. “Where the decision warrants, we run the same study with a human cohort and a mimetic cohort and compare the findings, the reasoning, and the mental and emotional responses directly. Clients see where mimetic findings hold and where human research should lead.”
In BioVid’s validation work to date, mimetic and human cohorts have shown an 80% to 90% match on content, reasoning, and emotion across thousands of parallel tests.
BioVid Mimetics™ is available off the shelf or tailored with a client’s own primary research. It supports message and concept testing, positioning, drivers and barriers, segmentation, and opportunity assessment, and includes:
Mimetic Respondents: Mimetic or hybrid studies, with mimetic fieldwork complete in one to two weeks after receipt of required inputs, followed by a full report and readout from BioVid’s research team.
Mimetic Segments App: Segments that client teams question directly, share materials with, and return to between research waves.
Client Customization: Models tailored with a client’s own research, segment profiles, and CRM data, exclusive to that client and firewalled from all others.
To learn more, visit www.biovid.com/mimetics.
About BioVid
BioVid is a life science consultancy applying behavioral science and AI to commercial and market access strategy. Its offerings include the CIAIRA™ AI platform, Tumor Worlds™, and BioVid Mimetics™. BioVid is a recognized leader in new product demand estimation, commercial communication optimization, and customer and patient segmentation research.
Visit www.biovid.com.
Media Contact:
Sal Zerilli, PhD, Executive Director, Knowledge and Innovation, BioVid
szerilli@biovid.com | 267.201.4008
View original content to download multimedia:https://www.prnewswire.com/news-releases/biovid-launches-mimetics-ai-research-audiences-built-on-how-physicians-reason-and-decide-302918401.html
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NEW YORK, Oct. 23, 2026 /PRNewswire/ — Egan-Jones released its monthly report on the collateralized loan obligation (CLO) market, finding that credit metrics across the deals it rates held steady even as interest rates and high-yield spreads moved higher in September. For investors, the publication sets these steadier portfolio measures against a tighter rate backdrop.
Among Egan-Jones’ measures, the weighted average rating score, a gauge of the default risk in a deal’s underlying loans where a lower score indicates stronger credit, has improved over the past year. The share of assets rated CCC+ or lower, the weakest tier of loan ratings, has been stable to slightly lower, with a median of 6.1%. As of September 2026, Egan-Jones rated 1,568 CLO deals.
The steadier metrics come as financing conditions shift. The 5-year Treasury yield rose 60 basis points to 5.09%, its highest close of 2026, and on September 16 the Federal Reserve raised rates by 25 basis points, its first increase since 2023. High-yield spreads widened to 312 basis points from their late-August low, while new CLO issuance totaled 91 deals ($38.2 billion), down 12.5% by count from a year earlier.
Higher rates cut both ways for CLOs, according to the analysis: coupons on the underlying loans reset upward, but so do the interest burdens of the borrowers. Egan-Jones points to rising loss severity on distressed exchanges and other selective defaults, and identifies software loans, pressured by concerns over disruption from artificial intelligence, as the weakest sector in CLO portfolios.
Egan-Jones also compares its ratings with those of other agencies across 20 deals, ranking the tranches where views differ most. On that comparison, Egan-Jones currently tends to take a more positive view of CLO credit quality than other credit rating agencies. A full sample rating report on MP CLO VIII, whose largest industry exposure is High Tech Industries at 15.9%, is included.
Taken together, the findings describe a market in which issuance has eased and borrowing costs are rising, while the credit profile of Egan-Jones-rated portfolios remains stable. Watching where pressures such as software exposure and loss severity are building may help investors assess CLO risk as the rate cycle turns.
About Egan-Jones Ratings
Egan-Jones, an NRSRO founded in 1995, offers timely and accurate credit ratings and proxy services.
Media Contact:
sales@egan-jones.com
+1 212 425 0460
View original content to download multimedia:https://www.prnewswire.com/news-releases/egan-jones-finds-steady-clo-credit-metrics-as-interest-rates-turn-higher-302918341.html
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