Figma Shares Indicated To Open $105/$110
NEW YORK - Nixxy, Inc. (NASDAQ:NIXX), an AI technology company, announced today the appointment of Ashissh Raichura to its Board of Directors. Raichura is recognized for his expertise in AI-driven diagnostics and compliance across healthcare and other sectors. The appointment comes as Nixxy, currently valued at $24.6 million, faces significant challenges with its financial health rated as ’Weak’ according to InvestingPro analysis.
Raichura brings over 30 years of experience in developing intelligent, secure platforms at scale. He holds dual Ph.D.s in Cloud Computing and Machine Learning and is the founder and CEO of Scanbo, a company that specializes in real-time, non-invasive diagnostics powered by biosensor AI.
Miles Jennings, Interim CEO of Nixxy, highlighted Raichura’s deep knowledge in AI architecture and global compliance strategy, emphasizing his contributions to creating SOC 2, GDPR, and HIPAA-compliant AI platforms, particularly in healthcare.
Raichura’s career includes significant roles at Tech Mahindra and leadership in cloud-native medical systems development at Scanbo. His work has focused on ensuring data privacy, patient safety, and regulatory compliance, including implementing SOC 2 audits and GDPR safeguards.
At Nixxy, Raichura aims to support the company’s commitment to building trustworthy AI that scales across industries while maintaining safety and regulatory standards. His experience will contribute to Nixxy’s growth in providing intelligent infrastructure for compliance-intensive industries.
Nixxy, Inc. specializes in transforming legacy systems into secure, AI-powered platforms, particularly in healthcare, telecom, and government. The company’s flagship platform, Auralink AI, offers secure communications and billing solutions that comply with stringent regulatory standards. Despite maintaining a strong gross profit margin of 99.6%, the company’s revenue declined by 80.8% in the last twelve months, with total revenue of just $610,000. InvestingPro analysis reveals 11 additional key insights about Nixxy’s financial position and market performance.
This announcement contains forward-looking statements regarding Nixxy’s business strategy and potential growth, which involve risks and uncertainties. These statements are based on current expectations and projections and are subject to factors that may cause actual results to differ materially. The company’s stock has declined 33.6% over the past six months, currently trading at $1.70, significantly below its 52-week high of $8.50. According to InvestingPro’s Fair Value analysis, the stock appears to be overvalued at current levels. The company cautions readers not to place undue reliance on these forward-looking statements and undertakes no obligation to update or revise them.
Investors are encouraged to review Nixxy’s SEC filings for a detailed discussion of risks and uncertainties associated with the company’s business. The information provided is based on a press release statement.
In other recent news, Nixxy, Inc. reported preliminary operational metrics for its Auralink AI subsidiary, indicating approximately $1.2 million in activity for March 2025. The company also forecasts a significant revenue increase to $2 million by April from its AI telecom unit, following the integration of newly acquired AI software. Additionally, Nixxy completed a $3.9 million acquisition of CallAI and AQUA Health Coach from Aqua Software Technology, aiming to bolster its presence in the telecom and healthcare sectors. The acquisition, paid through a mix of cash and restricted common stock, is expected to enhance Nixxy’s AI capabilities.
Further strengthening its portfolio, Nixxy completed a $3.8 million asset acquisition from Aqua Software Technologies, focusing on billing and AI systems. The company anticipates a substantial revenue boost from a new contract with Mexedia SpA, projecting a monthly revenue run rate of $25-27 million starting in March 2025. In a strategic move, Nixxy withdrew its Form S-1 Registration Statement, deciding it was unnecessary for current operations. Investors are advised to consider the preliminary nature of these financial figures and consult audited statements for a complete financial picture.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.