AudioEye adds Jim Hawkins to its board of directors

TUCSON, Ariz. - AudioEye, Inc. (NASDAQ: NASDAQ:AEYE), a company specializing in digital accessibility solutions with a current market capitalization of $148.33 million, announced today the appointment of Jim Hawkins (NASDAQ:HWKN) to its board of directors, coinciding with the departure of Tony Coelho from the board. Hawkins, known for his leadership in scaling public companies, joins the board with immediate effect. According to InvestingPro data, the company has maintained impressive gross profit margins of nearly 79%.

The CEO of AudioEye, David Moradi, expressed confidence in Hawkins’ ability to contribute to the company’s growth, highlighting his impressive track record. Hawkins previously led a public company as CEO, where he significantly increased both revenue and market capitalization. His expertise is expected to support AudioEye’s ongoing expansion and operational success. The company generated revenue of $33.35 million in the last twelve months, with InvestingPro analysts projecting continued growth and profitability this year.

Hawkins, who has been a shareholder of AudioEye, brings a wealth of experience from his tenure as President and CEO of Natus Medical (TASE:BLWV), where he oversaw substantial growth and product portfolio development. His previous roles also include CEO of Invivo Corporation, and he currently serves on the boards of OSI Systems (NASDAQ:OSIS), Inc. and IRadimed Corporation. Hawkins holds a bachelor’s degree and an MBA in finance.

In his remarks, Hawkins acknowledged the growth of AudioEye under the leadership of David Moradi and expressed enthusiasm for contributing to the company’s future prospects.

AudioEye’s mission is to ensure digital accessibility for all, providing a comprehensive solution that pairs AI automation with expert guidance. Their technology is designed to help businesses meet compliance standards, boasting a clientele that includes notable names such as Samsung (KS:005930), Calvin Klein, and Samsonite. The company holds 24 US patents and offers a suite of tools and services to promote digital inclusivity. For deeper insights into AudioEye’s financial health and growth prospects, including exclusive ProTips and comprehensive valuation analysis, visit InvestingPro, where you’ll find detailed research reports covering over 1,400 US stocks.

This announcement is based on a press release statement from AudioEye, Inc.

In other recent news, AudioEye, Inc. has announced a $12.5 million share repurchase program, which is expected to be completed by January 24, 2027. The buyback will be funded through working capital, cash from operations, and potential borrowing, allowing the company flexibility in its execution. Additionally, AudioEye has set the public offering price for a secondary sale of shares by certain stockholders at $24.00 each, with the transaction expected to conclude on December 6, 2024. The company itself will not benefit financially from this offering, as the proceeds are designated for the selling stockholders.

In legal matters, the Supreme Court of the State of New York dismissed a lawsuit against AudioEye, which was filed by a former employee alleging stock manipulation and other claims. Meanwhile, Needham initiated coverage on AudioEye with a Buy rating, citing the company’s strong position in the digital accessibility market and the integration of AI as factors for their positive outlook. This rating comes amidst increasing demand for digital accessibility solutions driven by legislative and litigation trends. These developments highlight AudioEye’s strategic moves in both financial management and market positioning.

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