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YOKNEAM ILLIT - Wearable Devices Ltd. (NASDAQ:WLDS, WLDSW), an innovator in AI-powered touchless sensing wearables with a market capitalization of $1.57 million, has received a notice of allowance from the United States Patent and Trademark Office for its patent application titled "Gesture and Voice-Controlled Interface Device." According to InvestingPro analysis, the company currently trades below its Fair Value, though it faces significant financial challenges with an overall weak health score. The patent encompasses technology that enables the measurement of physical properties such as weight, torque, and force through gestures, with potential applications in brain-computer interfaces, Industry 4.0, and extended reality (XR).
The patent claims cover the company’s gesture-controlled interface that can function as a wearable scale, measuring various real-world physical properties from the wrist. This includes estimating the weight of objects, determining the torque applied when fastening rotating items like screws and faucets, and measuring the force exerted when connecting electrical cable harnesses.
Wearable Devices Ltd. envisions the patented technology enhancing experiences across several domains. For individuals with severe disabilities, it could improve embodiment, while in logistics and industrial settings, it could boost productivity. The technology also promises to heighten immersion in virtual environments. InvestingPro data shows the company maintains a positive cash position relative to debt, though it’s currently experiencing rapid cash burn with negative free cash flow of $8.69 million in the last twelve months.
The patent is a strategic part of the company’s broader intellectual property plan, aiming to secure its core technology on a global scale and adapt to market changes. Mr. Guy Wagner, co-founder, President, and Chief Science Officer of Wearable Devices Ltd., emphasized the importance of integrating these advanced features into their products to enrich customer experiences.
The company is known for its groundbreaking solutions like the Mudra Band for iOS and Mudra Link for Android, which allow users to control devices through finger and wrist movements. These products are part of a rapidly evolving tech landscape that includes gaming, augmented reality (AR), virtual reality (VR), and XR.
Wearable Devices operates on a dual-channel business model, offering direct-to-consumer sales and enterprise licensing. Its innovative solutions are setting the input standard for the XR market, driving user experience innovation in one of the fastest-growing tech sectors. Financial metrics from InvestingPro reveal the company generated $460,000 in revenue over the last twelve months, with a gross profit margin of 19.4%. Subscribers can access 14 additional ProTips and comprehensive financial analysis to better understand the company’s growth trajectory and market position.
This announcement is based on a press release statement from Wearable Devices Ltd. and contains forward-looking statements that involve risks and uncertainties. The company’s actual results may differ significantly from those projected in these statements.
In other recent news, Wearable Devices Ltd. has announced the development of Large MUAP Models (LMM), a new technology designed to enhance human-computer interactions. This approach aims to decode Motor Unit Action Potentials (MUAPs), potentially allowing for more intuitive and personalized user experiences by interpreting neural data. The company’s Chief Scientific Officer, Guy Wagner, highlighted the potential of LMMs to personalize gestures, thereby improving the naturalness of interactions with digital devices. Wearable Devices is known for products like the Mudra Band and Mudra Link, which exemplify its expertise in gesture control interfaces. The LMM technology is still in development but is seen as a key component for future extended reality platforms. The company is actively seeking collaborations to integrate LMMs into next-generation XR solutions. Wearable Devices employs a dual-channel business model, focusing on both direct-to-consumer sales and enterprise licensing, to influence consumer and business markets. The company’s recent press release also includes forward-looking statements about the potential benefits and future plans for LMM technology, though these are subject to risks and uncertainties.
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