Here is whyAudioEye Inc. (AEYE) stock pop up in the after-hours on Monday?

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AEYE Stock
AEYE Stock

AudioEye Inc. (AEYE) shares soared 5.31% in after-hours on Monday, October 4, 2021, and closed the daily trading at $11.50. However, in the normal trading session, AEYE’s stock lost 3.79%. AEYE shares have fallen 23.26% over the last 12 months, and they have moved down 2.06% in the past week. Over the past three months, the stock has lost 33.82%, while over the past six months, it has shed 61.90%. Further, the company has a current market of $120.23 million and its outstanding shares stood at 10.99 million.

AEYE AudioEye A11iance Community

On October 4, 2021, AudioEye, Inc (AEYE) unveiled the AudioEye A11iance, a community-based initiative that brings people with disabilities to the forefront of the product development and quality assurance process, allowing AudioEye to further its mission to create equal access for all.


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AEYE corporate changes

On September 21, 2021, AudioEye, Inc. (AEYE), promoted Chris Hundley from Chief Technology Officer to President to lead efforts for departmental alignment on go-to-market and other strategic initiatives and support interim CEO David Moradi on operations and growth.

Dominic Varacalli’s role has changed from President to Chief Operating Officer. Dominic will continue to focus on areas where he has added significant value in bringing top-notch service to our customers while delivering margin efficiency for the business.

Mase Gray will transition from Chief Architect to Chief Technology Officer. Mase will focus on shaping AudioEye’s product and technical strategy to support the Company’s growth and building a world-class engineering team.

AEYE recent financial results announcement

On August 11, 2021, AudioEye, Inc. (AEYE), reported financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • AEYE reported total revenue of $6.0 million in Q2 2021compared to $5.3 million in the same prior-year period.
  • Gross profit was$4.5 million in Q2 2021 compared to $3.7 million in the second quarter of 2020.
  • Total operating expenses were $7.6 million in Q2 2021 compared to $4.5 million in Q2 2020.
  • It suffered a net loss of $1.8 million or $0.17 per share in Q2 2021 compared to $1.4 million or $0.16 per share in Q2 2020.
  • As of June 30, 2021, the company had $24.8 million in cash, compared to $9.1 million on December 31, 2020.

Conclusion

AEYE stock surged in the after-markets after the company announced the new AudioEye A11iance Community initiative. We can expect it to continue its momentum in the coming trading sessions as well.

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