“Pivoting with Agility”: Augmented Reality, Virtual Events & Accelerating Megatrends. CEO’s of SNAP, CSCO, OKTA, NEXCF On Navigating “The New Normal” Economy.
NEW YORK, June 22, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest from leaders at Okta, Inc. (NASDAQ: OKTA), Snap, Inc (NYSE: SNAP), Cisco Systems (NASDAQ: CSCO), and NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR).
As business and consumers adapt to “the new normal”, clear trends are emerging, which today’s leaders must navigate to succeed. Wall Street Reporter highlights tech leaders comments and insights from recent earnings calls.
Okta, Inc. (NASDAQ: OKTA) CEO Todd McKinnon: “Megatrends of Increased Adoption of Cloud and Hybrid IT, Digital Transformation Accelerating”
“The megatrends of increased adoption of cloud and hybrid IT, digital transformation and Zero Trust Security have been driving our business for the past several years and will continue to drive our business well into the future…once we emerge from the crisis stage of this pandemic, we expect to see an acceleration of these trends. These trends resonate now more than ever and our leadership position going into this crisis will be further enhanced as we expand our presence and product offerings.”
Okta CEO Todd McKinnon noted the necessity for business to “pivot with agility”: “We were one of the first companies to host a large virtual event, two events, if you include our Investor Day. It was an unexpected and challenging task, but both events were incredibly successful and our customer and investor feedback was amazing.
“We had nearly 20,000 registrations for Oktane20 Live, which is over 3x what we had been expecting for the in-person event. We operate in a world where innovation, agility, and adaptability have always been important and our ability to quickly pivot to virtual events exemplifies what makes Okta successful.” In a June 21 article in The Wall Street Journal about how tech industry is shifting its large scale conferences to virtual events, McKinnon said the Octane virtual event generated more than 5,000 sales leads, compared with just a few hundred last year. “It turned out there were big advantages to going virtual,” he said.
Okta conference call highlights available at:
NexTech AR Solutions (OTC: NEXCF) CEO Evan Gappelberg: “Surging Demand for Augmented Reality/Virtual Conferences by Global Enterprise Fueling Our Revenue Growth”
NexTech AR (OTC: NEXCF), a featured presenter at Wall Street Reporter’s “NEXT SUPER STOCK” investor conference series, today announced a $135,000 contract with Real Asset Media. Real Asset Media is a leading pan-European event provider in the investment real estate space. Real Asset Media will launch REALX.global, the virtual conference and exhibition for the commercial real estate markets in September 2020.
Richard Betts and Thorsten Herbert, co-founders of Real Asset Media, see this as a game-changer for their industry. “The InfernoAR platform enables us to connect a truly global community and take virtual real estate events to the next level with an unrivalled immersive experience. NextechAR enables our exhibitors, speakers and attendees at REALX.global to go beyond what is possible in a physical fair and instantly network and connect with new business partners and opportunities across the world.”
Evan Gappelberg, CEO of NexTech, commented, “InfernoAR, is the world's most advanced Augmented Reality and Video Learning Experience Platform for Events, and we’re seeing surging demand for our services across a wide spectrum of use cases including governments, universities, sports teams, corporations, religious institutions, and more as a paradigm shift to ‘video being the new voice’ and a virtual world takes hold, creating a new and urgent demand for our services globally.”
On June 19, NexTech closed a $3.2 million funding, to fuel surging revenue growth in 2020. Highlighting one of NEXCF’s fastest growing businesses, CEO Evan Gappelberg commented: “with the April 30th acquisition of virtual events platform Jolokia, we have grown our pipeline of opportunities very quickly with $300,000 in new closed deals in just the past six weeks. On top of this, we now have a potential pipeline worth another $1million+, as NexTech’s AR-enhanced virtual events platform is being enthusiastically embraced and is gaining rapid traction with global enterprise, and government customers. As witnessed by the growth of Zoom (ZM) we are right smack in the middle of arguably the fastest growing business on the planet: virtual conferences.”
NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) is one of the most talked-about companies in the emerging $120 billion Augmented Reality market. In a June 19 Interview, CEO Evan Gappelberg discusses how the recent funding positions NEXCF to scale its virtual meetings and AR SaaS business.
NexTech June 19 CEO Video Interview and Recent Presentation available at:
Snap, Inc. (NYSE: SNAP) CEO Evan Spiegel: “Millennials and Gen Z Driving Accelerating Digital Transformation Grew Up with Their Mobile Phones and Now Control over $1 trillion Spending Power”
“…as people turn to video conferencing and live streaming to work and hang out together, we've seen more than 30x increase in the daily downloads of Snap Camera, a desktop app which allows people to add our suite of lenses to whichever video conferencing service they use.”
“Augmented reality is continuing to play an important role in the lives of Snapchatters, with people now playing with lenses 85% more each day than they did last year. A lot of this behavior is driven by our growing community of lens creators using lens studio with lenses created by our community reaching 40% of our daily active users every day on average. We've also built new immersive lenses powered by machine learning to transform the ground into lava or water. We believe that the recent acceleration in the adoption of communication technology and augmented reality during these travel restrictions will help support our longer term trends and engagement growth.”
Snap, Inc. conference call highlights available at: https://www.wallstreetreporter.com/2020/06/snap-inc-nysesnap-q1-2020-earnings-conference-call-summary-highlights/
Cisco Systems, Inc (NASDAQ: CSCO) CEO Chuck Robbins: “Organizations more than ever must focus on resiliency and agility”
“Teleworking and collaboration tools have become a lifeline for businesses and their people to stay connected and productive, with security and privacy being more critical than ever….Throughout the quarter, we invested in scaling our platform at an unparalleled speed to deliver a highly secure consistent experience and ensuring business continuity for our customers.
“We are now running our Webex platform at three times the capacity we were running at in February to manage the dramatic increase in usage growth. We had well over 500 million meeting participants, generating 25 billion meeting minutes in April, more than tripled the volume in February. We also added many new prospects through free Webex trials that we anticipate converting to revenue in the future. Our responsibility has never been greater, as much of the world is running on Cisco's technology from networking to collaboration to security to stay connected, secure and productive…”
Hinting at potential upgrade cycle: “…customers are now stepping back and asking themselves, what do I need to do to harden my infrastructure and to better prepare my business for the next time something like this happens….a lot of customers who are not at the center of this crisis, who realized during this pandemic that that they have a fair amount of technical debt and they have a lot of aged equipment. And so we all know what the timeframe is. Many of them have said this is a wakeup call and this is going to actually give us air cover to talk to our senior leadership team about upgrading and building out a more robust modernized infrastructure.”
Cisco conference call highlights available at: https://www.wallstreetreporter.com/2020/06/cisco-systems-inc-nasdaqcsco-q3-2020-earnings-conference-call-highlights-summary/
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