May 06, 2021 (Financial News Media via COMTEX) -- Palm Beach, FL -May 6, 2021 - Today's sports technology has most certainly evolved... and its also growing at a substantial pace. The global sports technology market size was valued at $11.70 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 16.8% from 2021 to 2028 according to Grand View Research.. The rising adoption of emerging technologies, such as the internet of things (IoT) and data analytics, along with social media integration, across various sports, is expected to drive the market over the forecast period. A strong emphasis on audience engagement and entertainment activities coupled with the digital transformation of stadiums is anticipated to drive the demand for technology-driven services in the sports arena. The industry is experiencing a paradigm shift due to increasing investments by various organizations in adopting the latest technologies for monitoring players' performance and engaging fans, among other activities. Another report from ResearchAndMarkets also echoed the rise in their projection. They said: "The global Sports Technology market, which is likely to amass revenue worth nearly 41.88 (USD Billion) by 2026, will register a CAGR of nearly 21.4% during the period from 2020 to 2026. Sports technology has gained humongous popularity in outdoor activities including football, rugby, cricket, and soccer. Apart from this, indoor sports activities are contributing notably towards the sports technology industry growth. The use of sports technology in swimming, badminton, and chess is likely to offer new growth avenues for the market over the estimated timespan." Active tech companies in the markets this week include Nautilus, Inc. /zigman2/quotes/206873003/composite NLS -3.90% , Binovi Technologies Corp. (otcqb:BNVIF) /zigman2/quotes/203235208/delayed CA:VISN +12.50% , NIKE, Inc. /zigman2/quotes/203439053/composite NKE +0.51% , Peloton Interactive, Inc. /zigman2/quotes/208035743/composite PTON +0.30% , lululemon athletica inc. /zigman2/quotes/204011506/composite LULU +0.71% .
ResearchAndMarkets continued: "A prominent surge in the acceptance of wearable equipment by athletes across the globe is set to steer the expansion of sports technology industry over the forecast timeline. The adoption of connected things in the sports activities is anticipated to play a major role in influencing the expansion of sports technology market in the years ahead. Sports technology assists in knowing the injury status of the players and helps the coaches as well as physiotherapists in lessening the pain. Moreover, the use of artificial intelligence in sports has brought automated ticket sales, raising athlete performance in sports events, enhancing athlete training, and assessing the performance of sportspersons. This, in turn, will steer the expansion of sports technology industry over the assessment timeline. With the onset of augmented reality and virtual reality in sports sector, the market for sports technology is anticipated to gain traction over the period from 2020 to 2026."
Binovi Technologies Corp. (otcqb:BNVIF) /zigman2/quotes/203235208/delayed CA:VISN +12.50% BREAKING NEWS: Binovi provides Corporate Update – Revenue Growth, New COO, Move into the U.S., Key Educational Study to Commence, End-to-End Solution, New Product Launch – Binovi Technologies Corp. (otcqb:BNVIF) /zigman2/quotes/203235208/delayed CA:VISN +12.50% , ("Binovi" or "the Company") today provided the following corporate update. Highlights from the release include:
Continued Revenue Growth - 24% YoY – Despite challenges related to the COVID-19 pandemic, such as supply chain disruption and reduced in-person visits to therapists, the Company continues to see revenue growth. Binovi will issue its full year audited results towards the end of July, but is proud to share that it has streamlined its sales efforts, strengthened its product offering, and experienced greater traction with the general market on the benefits of the Company's technology offering, resulting in a 24% increase in revenues over the same quarter in the prior year.
Adam Cegielski, CEO of Binovi, stated, "I am very proud of our team's ability to deliver continued growth despite the heavy impact of COVID-19. Especially encouraging is the substantial pipeline of new opportunities we are building, as well as the growing market awareness of non-acuity related vision issues, which we see reflected in increased organic demand for our solutions. We continue to work on various initiatives in the sports, education, and vision therapy market segments, and believe that Binovi is exceptionally well-positioned to capitalize on the numerous opportunities we have identified across these markets."...
Internal Reorganization – Tania Archer appointed Interim COO – Tania Archer, with the Company since early 2019, has been appointed Interim COO. Ms. Archer previously headed Global Sales & Marketing, and was responsible for Strategic Partnerships. In her new role, she will be tasked with an internal reorganization that is aimed at streamlining the Company's sales execution efforts, in addition to overseeing operational matters while continuing to lead global marketing and sales generation efforts. The Company continues to run targeted sales campaigns on its various product and solutions offerings that are meeting with great interest. The focus of the reorganization is ensuring that the Company will achieve the highest possible conversion ratio on these leads and accelerate growth going forward. Pending successful reorganization brought on by the collaborative efforts of the senior leadership team, Ms. Archer will assume appointment to COO...
Establishing U.S. Operations – Due to approximately 80% of Binovi's revenues coming from the U.S., the availability of grants to Binovi for educational and other projects, as well as the sheer size of this market, the Company has decided to establish operations in the United States. Binovi is incorporating a wholly owned subsidiary, to be based in Missouri. The Company, through its executives and certain strategic partners, has deep roots in Missouri and has strong connections to the state's educational institutions and sports organizations. Missouri will serve as the hub for Binovi to engage in a more proactive manner with the myriad opportunities the Company is working on developing...
Educational Research - Key to Unlocking Huge Market – Dr. Sandra Stoddard, member of the Scientific Advisory Board at Binovi, will head up a scientific research program with an Alberta school board. The objective of the research will be to establish, beyond any doubt, the positive impact the Binovi system has on students with visual issues beyond acuity in relation to their ability to learn how to read. With approximately 53 million students enrolled in K-12, the education market in the U.S. has very significant potential for Binovi...
Binovi's End-to-End Integrated Platform Unsurpassed in Industry – The recently announced acquisition of Samurai CAVT ("CAVT"), complements Binovi's existing offerings for vision therapy application. Computer Aided Vision Therapy is a strong suite of products that will help Binovi connect with the educational market through optometric-guided initiatives...
Dr. Press Continues Successful Run Educating Behavioral Optometrists - Driving Market Development – Binovi Academy delivers optometrists and vision therapists with the information, scientific validation, and toolsets to enhance their practices. Academy has been a key driver behind the success of the Company's Sanet Vision Seminar Series, with commentary by Dr. Leonard Press. For years, doctors and therapists from all over the world have been coming to attend the seminar presented by one of the field's undisputed leaders, Dr. Robert Sanet. With COVID-related travel restrictions, as well as the Company's development of its educational modules, demand for online programming is strong. Binovi Academy, with production quality unmatched in its market space, has unique and original offerings in primitive reflex development and optometric phototherapy...
Binovi Touch Elite - Early Release – The Company continues to develop new products that further its leadership in the visual therapy and performance space. Binovi Touch Elite is now ready for early release and the Company is starting to take early-bird pre-orders for this new iteration of its flagship hardware offering. Binovi Touch Elite makes Binovi's hardware even easier to work with. Benefiting from a complete physical redesign, Elite is lighter, smaller, and has a new, flexible wall mount. Despite a reduction in size, which makes the new device portable, a very important feature customers had been asking for. Elite provides the same level of software performance as the legacy Binovi Touch... CONTINUED... Read this enire release for Binovi Technologies at: https://www.financialnewsmedia.com/news-visn/
In other market news of interest:
Nautilus, Inc. /zigman2/quotes/206873003/composite NLS -3.90% , an innovation leader in connected home fitness, recently announced that the Company will report its financial results for the 2021 transition period from January 1, 2021 to March 31, 2021 after the market closes on May 10, 2021, followed by a management-hosted conference call to discuss the Company’s operating results. On December 30, 2020, the Board of Directors approved a change in the Company's fiscal year from the twelve months beginning January 1 and ending December 31 to the twelve months beginning April 1 and ending March 31. The Company's fiscal year 2022 will begin April 1, 2021 and end March 31, 2022. The Company changed its fiscal year-end in order to include the primary fitness season for exercise equipment, October to March, in the same fiscal year. In addition, the new fiscal year-end is better aligned with the fiscal year-end of its retail partners.
The live conference call and webcast is scheduled for 1:30 p.m. PT (4:30 p.m. ET) on Monday, May 10, 2021. The conference call can be accessed by calling (877) 425-9470 in North America. International callers may dial (201) 389-0878. Additionally, there will be presentation slides accompanying the earnings call. The slides will be displayed live on the webcast and will be available to download via the webcast player or at Nautilus' website.
NIKE, Inc. /zigman2/quotes/203439053/composite NKE +0.51% recently reported fiscal 2021 financial results for its third quarter ended February 28, 2021. Third quarter reported revenues were $10.4 billion, up 3 percent compared to prior year and down 1 percent on a currency-neutral basis led by Greater China reported revenue growth of 51 percent. NIKE Direct sales were $4.0 billion, up 20 percent on a reported basis, and up 16 percent on a currency-neutral basis. NIKE Brand digital sales increased 59 percent, or 54 percent on a currency-neutral basis, with strong double-digit increases in all geographies.
North America reported revenue declined 10 percent due to supply chain challenges, including global container shortages and U.S. port congestion, impacting the flow of inventory and timing of wholesale shipments. Gross margin increased 130 basis points to 45.6 percent and diluted earnings per share for the quarter was $0.90.
Peloton Interactive, Inc. /zigman2/quotes/208035743/composite PTON +0.30% will release its third quarter fiscal 2021 results after the U.S. stock market closes on today, Thursday, May 6, 2021. The Company will hold a conference call to discuss results at 5:00 p.m. (Eastern Time) that day.
The U.S. toll free dial-in for the conference call is 1-800-920-4315, and the international dial-in number is 1-212-231-2934. The Conference ID is 21993662. A live webcast of the conference call will also be available on the investor relations page of the company’s website. For those unable to participate in the conference call, a replay will be available after the conclusion of the call on May 6, 2021 through May 13, 2021.
lululemon athletica inc. /zigman2/quotes/204011506/composite LULU +0.71% recently announced financial results for the fourth quarter and fiscal year ended January 31, 2021.
Calvin McDonald, Chief Executive Officer, stated: “I’m proud of how we navigated this past year and delivered for our employees, guests and shareholders. Our continued growth demonstrates the strength of lululemon — before, during and as the pandemic subsides. We are still in the early innings of our growth, fueled by exciting innovations that create even more opportunity into the future. All of us on the leadership team have so much gratitude for our teams and their agility during these unprecedented times.”
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