Without a pandemic vaccine in hand, companies, airports, schools, and hospitals are turning to temperature scanning technology, such as infrared thermal cameras, in an effort to help reduce the spread of the virus. “Thermal imaging and sensing technology will certainly be among the lines of defense against the virus, according to market research firm Yole Développement, triggering a boom in the market for thermal technologies. Between 2019 and 2020, the thermal imager and thermal detector markets are projected to rise by 76 percent and 20 percent, respectively,” as reported by EE Times.
In addition, according to Reuters, “Thermal cameras, which measure the amount of energy an object emits relative to its surroundings, represent a potentially safer non-contact alternative. The cameras scan people as they enter through doorways or hallways and send alerts to pull aside an employee for a check with a thermometer.” As demand increases, some of the top companies to keep an eye on include Draganfly Inc. (OTCQB:DFLYF)(CSE:DFLY), AgEagle Aerial Systems Inc. (NYSE:UAVS), Remark Holdings Inc. (NASDAQ:MARK), FLIR Systems Inc. (NASDAQ:FLIR), and Identiv Inc. (NASDAQ:INVE).
Draganfly Inc. (OTCQB:DFLYF)(CSE:DFLY) BREAKING NEWS: Draganfly Inc. an award-winning, industry-leading manufacturer and systems developer is pleased to announce that Alabama State University has selected Draganfly’s Vital Intelligence Smart Thermal Temperature Assessement Stations, Vital Signs Assessment Stations and Social Distancing awareness technologies to be used campus-wide to detect potential symptoms of COVID-19.
Draganfly’s Vital Intelligence Smart Thermal Assessment Station and Vital Sign Screening technology provides a quick, non-invasive (contactless) and anonymous measurement of an elevated body temperature and, with voluntary consent, heart rate, respiratory rate and O2 saturation, all from a camera that takes seconds to capture. The Social Distancing Awareness unit ensures compliance with social distancing guidelines.
The platform does not register any personal data of the individual being screened. Data provided back to Alabama State University will include the number of individuals screened, number of elevated temperatures and potential cases with elevated vital signs detected and the time it took for each screening. The data will also provide real-time data on the overall health of Alabama State University’s community in relation to scans.
“As we enter into a new school year during this pandemic, the safety of our students, faculty and staff is of utmost importance,” said Dr. Quinton T. Ross Jr., President, Alabama State University. “We have implemented a number of safety measures as we prepared for the reopening of the campus.The Smart Thermal Temperature Screening Stations are an added layer of protocols that assist us in identifying and mitigating the risk of the spread of COVID-19. Draganfly has provided us with the approved requirements needed to do this effectively. The stations are an essential tool in screening large groups of people in a short period of time.”
Alabama State University has agreed to purchase and install 5 Smart Thermal and Vital Sign Assessment units and 5 Social Distancing Awareness units to be stationed across the campus and accessible by its staff, faculty and 4,000-plus students. Individuals who appear to have an elevated temperature could then be screened by a medical professional to confirm the presence of fever.
The Smart Thermal Temperature Assessment Stations, Vital Sign Assessment Stations and Social Distancing units are North American made and owned.
“Re-opening our schools is imperative,” said Sen. Bobby Singleton (D- Greensboro). “We want to implement a safe, accurate and measurable protocol to enable this to happen. With all the fear, uncertainty and loss that COVID-19 has caused, we need to change the landscape of public education in Alabama. I am confident that the Draganfly Vital intelligence platform, which fits with the Safely Opening Schools (SOS) Program, will help to do just that.”
“We are excited that Alabama State University has chosen Draganfly to implement our Vital Intelligence technology on their campus,” said Cameron Chell, CEO of Draganfly. “A screening protocol before entering their on-campus facilities is an important preventative measure during this pandemic. In addition, providing informative data in relation to the number of faculty, staff and students tested can help to assess the overall health of their facility and help to keep their school safe and open.”
Other related developments from around the markets include:
AgEagle Aerial Systems Inc. (NYSE:UAVS) an industry leading provider of UAVs and advanced aerial imagery, data collection and analytics solutions, announced its second quarter financial results for the three and six months ended June 30, 2020. Revenue increased 516% to $408,000 from $66,000 for the six-month comparable periods in 2020 and 2019. For the three months ended June 30, 2020, revenue was $16,000 compared to $20,000 for the same three months in the prior year. This decline was primarily due to the impact of COVID-19 on AgEagle's supply chain, resulting in the delivery delay of certain parts needed for the manufacturing and assembly of drones and related drone package delivery equipment. Approximately $770,000 in revenue, originally expected to be realized in the second quarter, will now be booked in the third quarter. Gross profit margin on sales for the six-month period ended June 30, 2020 increased significantly to 54% from 20% for the comparable period in 2019. Likewise, gross profit margin on sales also improved for the comparable three-month periods ended June 30, 2020 and 2019, rising to 8% from 5%, respectively.
Remark Holdings Inc. (NASDAQ:MARK) announced financial results for its fiscal second quarter ended June 30, 2020. "The second quarter of 2020 was highlighted by the initial rollout of our AI-powered thermal imaging solutions for the U.S. market that generated $1.1 million in revenue during its introduction. With China now emerging from post-COVID-19 lockdowns, we anticipate growth on both sides of the Pacific moving forward," noted Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. "During the quarter we also successfully recapitalized our balance sheet by paying off over $13 million of debt and liabilities, while also ending the quarter with over $10 million of cash. These funds will help fuel our growth domestically and abroad as we grow our team, services and solutions."
FLIR Systems Inc. (NASDAQ:FLIR), a world leader in the design, manufacture, and marketing of intelligent sensing technologies, announced financial results for the second quarter ended June 30, 2020. Commenting on FLIR’s second quarter results, Jim Cannon, President and Chief Executive Officer, said, “I am extremely pleased with our strong performance and operational execution in the quarter amid unprecedented challenges. This quarter marked the second consecutive quarter of record-breaking total backlog, and we continue to build a robust, sustainable pipeline with several key program wins. Additionally, we are beginning to realize cost savings from the successful execution of Project Be Ready, which aims to better align resources with higher growth opportunities, while reducing costs. We also continue to see demand for our Elevated Skin Temperature—or EST—solutions and we are extremely proud of the role our products and technologies continue to play in helping mitigate the spread of COVID-19. Importantly, our continued emphasis on cash optimization has provided financial flexibility as we enter the second half of the year.”
Identiv Inc. (NASDAQ:INVE), a global provider of secure identification and physical security, reported financial results for the second quarter ended June 30, 2020. Revenue for the second quarter of 2020 was $19.1 million, an increase of 5% from $18.1 million in the prior quarter and a decrease of 14% from $22.2 million in the second quarter of 2019. Revenues in the Identity segment were driven by higher sales of readers and RFID transponder products, which were offset by lower access card sales. Revenues in the Premises segment were affected by lower sales of access control and video hardware, partially offset by higher Hirsch Velocity software product sales and related support services. The hardware revenue decrease was largely due to the inability of commercial dealers to access customer sites and delays in purchases from retail and hospitality customers, both due to COVID-19, partially offset by continuing access and sales to federal government customers.
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