Hello Everyone,
Our last 4 profiles all moved double digits after we featured them in our newsletter. 2 of them moved 0ver 75% which is not an easy thing to do on the Nasdaq. Friday’s profile opened at 1.15 and by 2:30 it exploded past 2 bucks.
We have another Nasdaq profile sitting around .30 with bounce potential.
This one has closed green for 3 sessions in a row and had a strong day on Friday
The company has drifted lower over the past 6 months on extremely light interest.
Pull up SVRE immediately.
Founded in 2014 with a mission to make roads safer for drivers, passengers, and pedestrians alike, SaverOne develops cellular network-based technological solutions for reducing road accidents.
Our innovative system for identifying and limiting the use of certain apps on mobile devices while operating a vehicle has already been widely adopted by dozens of companies in Israel.
SaverOne is also developing an additional system that can detect and warn the driver of VRU’s (Vulnerable Road Users and pedestrians) crossing when the driver’s field of vision is extremely limited. This system is currently in advanced stages of development.
Located in Israel, the company currently employs over 40 employees in its research and development, sales, business, operations, and support departments. Traded on NASDAQ
Traded on NASDAQ since 2020 (TASE: SVRE Nasdaq: SVRE)
SaverOne’s product portfolio addresses two main automotive segments:
- After-market segment: protecting existing cars, trucks, and buses; working with vehicle fleets.
- Pre-Market OEM segment: integrating SaverOne’s Protection technology in the vehicle assembly line.
SaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety and the safety of their passengers. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne’s technology specifically recognizes the driver area in the vehicle and prevents the driver from accessing distracting applications such as messaging, while allowing others (e.g. navigation), without user intervention or consent, creating a safer driving environment.
SaverOne’s primary target markets include commercial and private vehicle fleets that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.
The Company’s strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company’s protection technologies during the vehicle manufacturing process.
When the driver enters the vehicle, the system detects the cell phone in the driver’s area and connects to the SaverOne application.
SaverOne Secures 4,300 System Orders To Battle Distracted Driver Dilemma
SaverOne’s DDPS technology joins the battle against “distracted driver” dilemma, says Soulstring Media.
Miami, Florida–(Newsfile Corp. – November 17, 2023) – Per Soulstring Media, SaverOne 2014 Ltd.(NASDAQ: SVRE) has created a product that significantly reduces mobile phone use while driving. Its flagship In-Cabin Driver Distraction Prevention Solution (DDPS), branded as the SaverOne system, uses next-gen technology that can identify when a cell phone is in the vicinity of the driver’s seat and, with the addition of the SaverOne App, block access to distracting apps and social media channels without disrupting necessary apps like navigation, emergency signals, and hands-free phone calls.
It does so with a tech-forward design that can detect and locate a driver’s cell phone radio frequency (RF) signal and, in an instant, disable virtually all non-emergency functions. From being programmable, it can shut down other distracting features, too. However, the goal of SVRE technology isn’t to limit mobile communications altogether but rather to curb texting and viewing content while driving, particularly general messaging and posting to social media channels. That’s accomplished by the DDPS system automatically engaging when a phone (with the app installed) is near the driver, not the passengers, by using sensors and AI algorithms to identify and detect the position of a mobile phone inside a vehicle.
AI-Empowered Functionality
Once professionally installed, a concealed “Phone Location Unit,” typically put under the dashboard, can determine a phone’s location based on the relative strength of the phone’s RF signal. Then, with the SaverOne app enabled, a driver entering the vehicle with a cell phone will find that many distracting apps have been automatically disabled. If the app is not enabled, an alarm will be triggered that can only be silenced by removing the phone from the driver’s area or downloading and activating the mobile app if the phone is to remain in the vicinity of the driver.
SaverOne’s intent is not to shut down communications. Instead, the DDPS system blocks specific distracting applications while the vehicle is in motion, leaving calls, navigation, music apps, and other hands-free or non-distracting apps enabled. It’s not a one-size-fits-all platform, either. A corporate fleet manager could elect to “safelist” specific apps (for example, a delivery company could add its internal delivery app to the approved list). For private vehicles, the list of allowed apps can be modified by a third party, such as a parent or an insurance company that might offer incentives for compliance.
SaverOne’s mission is to deploy its flagship product commercially across several diverse markets, including commercial vehicles, buses, and employee-driven vehicles.
SaverOne Order Book Continues To Increase
SaverOne has secured roughly 4,300 systems ordered, with about 3,000 already installed. SaverOne also launched a second generation of the distracted driver protection solution in Q4 last year, expanding its marketing reach and allowing it to better serve the larger global auto market. In 2023, SaverOne reached a milestone with its first international sales, laying the groundwork to further capitalize on untapped global sales opportunities.
Last month, SaverOne reported initial orders of 90 new installations of its in-cabin Driver Distraction Prevention Solution (DDPS), primarily on school buses. While the system order count is small, SaverOne expects the initial placement to lead to more significant orders from that client and potential new ones that provide similar services. Also in October, SaverOne signed a distribution agreement with GVZ Company, based in Milan. GVZ specializes in distributing automotive components and solutions and has significant experience offering products that comply with European and Italian automotive safety regulations. GVZ will market, sell, install, and provide local support for SaverOne’s DDPS products in the region.
Smartphone ownership has surged from roughly 56% of the American population owning one to approximately 85% as of 2022. Excluding the very young and the oldest generations from this calculation leads to a revised estimate showing that nearly all drivers in the U.S. own a smartphone. SaverOne notes that with that increase, the issue of distracted drivers gets compounded, with smartphone use adding to other distractions, including eating and adjusting controls.
SaverOne is advancing an ambitious initiative from developing an OEM solution that could be integrated into a new vehicle and then offered to the purchaser. Some manufacturers are already on board. SaverOne has announced a deal with at least one OEM partnership, major truck manufacturer Iveco, which is expected to begin integrating SaverOne’s products in 2024, adding to a steepening revenue curve.
SaverOne Growth Curve Is Steepening
In the first half of 2023, SVRE reported a significant increase in year-over-year revenues, reaching roughly $400k, resulting from the approximately 3,000 units installed through August 29, 2023. That number is also up appreciably from 1,750 installed units in March 2023. That trend is expected to continue based on the pace of announced deals and the purported interest from large fleet vehicle operators. SaverOne is well-capitalized to reach its next series of milestones. As of June 30, the company has about $5 million in cash, providing a roughly ten-month cash runway based on its approximately $500,000 per month spent on operations. Accretive deals should lessen the need for fresh capital.
SaverOne announced its largest deal to date with Electra Afikim, an Israeli-based public transportation company expected to install the SaverOne System in its roughly 1,200 busses. The company also recently announced an expansion of its pilot projects outside of Israel, evaluating system placement potentials on buses in the Gulf region. Other active pilot projects are ongoing in the U.S. and in Europe.
SaverOne also announced entering into a memorandum of understanding with leading medium/heavy truck manufacturer IVECO to integrate its solution within IVECO trucks. IVECO produces about 150,000 trucks annually. A side letter announced in June 2023 reaffirms the companies’ intention to co-develop the OEM solution, with initial integration expected to begin before the year’s end and followed by a full rollout in inclusion in 2024.
SaverOne Turing Ambition Into Revenues
In addition to assets, SaverOne employs a management team proven to deliver shareholder value. The CEO has held leadership roles in several companies, the COO and Co-founder spent over two decades at Motorola, last serving as Senior Manager of Program Management and Business Operations, and its Vice President of R&D served as the VP of R&D for Micronet Ltd. and as CTO of the automotive division before taking on the role of Senior Manager at Motorola.
That team is leveraging SaverOne’s intrinsic strengths to capitalize on and maximize revenue-generating opportunities from a market in dollar terms worth billions. With a game-changing app and system, SaverOne hopes to reach its goal of becoming a recognized global services provider in a sector where being the best can be the difference between life and death. With product differences that are advantages, SaverOne hopes to more than provide the market; they hope to lead it.
This one has drifted lower over the past 6 months on EXTREMELY light interest. It has potential to bounce from it’s current levels.
SaverOne Reports First Half 2023 Results with Strong Revenue Growth
Revenue up ~4X YoY in H1 2023 and expects continued growth in H2 2023
PETAH TIKVAH, Israel, Aug. 29, 2023 /PRNewswire/ — SaverOne 2014 Ltd.(NASDAQ: SVRE) (TASE: SVRE), a company developing and deploying transportation safety and advanced driver-assistance systems (ADAS) technologies and solutions, today presented its results for the first half ended June 30, 2023 and shared some of its recent business updates.
Recent Highlights
- SaverOne is successfully executing on its land-and-expand strategy by broadening initial penetrations locally to full fleets, as well as initial wins internationally including pilot projects in the United States, Europe and the Gulf region;
- ~4,300 systems have been ordered by customers as of August 29, 2023, of which approximately 3,000 have been installed;
- SaverOne plans to advance development activities with IVECO during the fourth quarter subject to entry into formal agreement, with sales to customers planned for 2024.
Financial Highlights
- ~4X (286%) year-over-year growth in revenue to NIS 1.5 million (~$399 thousand) in the first half of 2023;
- Gross margin of 32% in the first half of 2023 versus 30% in the first half of 2022;
- Net loss of NIS 17.8 million (~$4.8 million) in H1 2023 versus NIS 11.9 million in H1 2022 (~$3.2 million) with higher net loss due to higher operating expenses given increased business activities in the current year;
- June 30, 2023 cash and cash equivalents and short-term bank deposits of NIS 18.6 million (~$5.0 million).
Management Comment
Commented Mr. Ori Gilboa, CEO of SaverOne, “We are very pleased with our performance so far in 2023. Building on the momentum we achieved last year, we continue to see our business advance well and in-line with our strategy. In particular, we are especially pleased with the broadening of our footprint amongst existing customers following the successful completion of our pilot projects with them, demonstrating their satisfaction with our solution. Furthermore, in line with our strategy to expand into international markets, we are very happy with the recent initiation of key pilot projects in the United States, Europe and the Gulf region. These are all key milestones for our business and given our strong pipeline, we see further potential to expand internationally.”
“Given our solid results and the clear potential ahead of us, we are ever more optimistic about our long-term growth. Looking to the second half of 2023, we expect to continue the growth trend from our encouraging first half of the year,” concluded Mr. Gilboa.
Recent Developments Summary
- Further recent international expansion: a new pilot project on buses of an additional county in the Gulf region; a second pilot project in the United States with a new customer, a fueling transportation company; and SaverOne’s first pilot in Europe marking an expansion with an existing customer.
- SaverOne Strengthens Senior Management with Focus on Global Sales and Business Development:announced the appointment of Omri Hagai, as new CFO; Yoav Zilber appointed as Head of Business Development, US and Europe After-Market Product; Alon Refaeli appointed as Head of Business Development, Global OEM Market and Hila Vyzer appointed as Head of Israel Market Sales. The appointments augment and strengthen SaverOne’s management team and its go-to-market efforts in international markets as well as the local market in Israel.
- Diplomat, a leading importer and distributor of consumer goods throughout Israel, signed an agreement with SaverOne for an initial pilot program on 20 trucks out of Diplomat’s full fleet of 45.
- Cemex Group, a global leader in the building materials industry to install the SaverOne system across its entire employee car fleet and trucks in Israel. This follows two prior orders covering portions of the fleet and the system is now being deployed on over 380 of Cemex‘ vehicles. There remains significant further potential in Cemex Group around the world.
- Garbage collection and recycling leader, Argaman Ichut Hasviva in Israel, to install the SaverOne System across its entire fleet of 20 garbage trucks operating throughout the country.
- SaverOne expanded its footprint among private bus fleets with over 160 new installations for various customers in the private bus fleet sector in Israel.
- Universal Trucks Israel, importer of Isuzu Trucks to Israel, to install SaverOne’s in-cabin DDPS on additional 40 Isuzu vehicles. This follows the successful implementation of the system in 100 Isuzu trucks in the first half of 2023. UTI represents significant further potential with a fleet of over 13,000 trucks and buses in Israel.
- A pilot demonstration with Abu Dhabi’s Ministry of Transport was successfully concluded on a number of public buses in Abu Dhabi. The potential for this project is the installation of the SaverOne system on the entire 900 bus fleet of Abu Dhabi’s public transportation system. There is further potential given the thousands of school buses operated daily throughout the country, and ultimately SaverOne aims to provide the SaverOne System throughout the United Arab Emirates.
- The Regional Council of Lev Hasharon to install the SaverOne system on its 14 school buses. The vertical of public transport is important in SaverOne’s global penetration strategy.
- Shaltal, one of the largest vehicle transport fleets in Israel, to install the SaverOne systems across its fleet of 150 trucks. Following an initial pilot phase of 25 vehicles, the agreement provides that the SaverOne system will be installed on the remaining 125 trucks.
- EzFill Holdings in Miami, Florida, started a pilot program with SaverOne, its first in the United Stateson selected fuel delivery trucks.
- Moviley Dror a leader in logistics and shipping for the Israeli supply chain market, to install the SaverOne protection system across its full fleet of 150 vehicles. Moviley Dror works closely with leading international logistics companies, representing further potential for SaverOne.
- SaverOne joins the European Union’s regulatory committee on driver distraction, the committee responsible for setting EU regulations for vehicle manufacturers (OEMs) for in-vehicle technologies that help detect driver distractions and improve road safety. SaverOne will participate in discussions, provide feedback and help craft regulations by contributing its strong expertise and insights to reduce driver distractions and better protect vulnerable road users.
- Electra Afikim to install the SaverOne System across its entire bus fleet of ∼1,200 vehicles: Electra Afikim is one of the largest public transportation operators in Israel. The public transportation sector is a key vertical, with potential to protect millions of vehicles, drivers, passengers and VRUs worldwide.
- Leading Israeli construction group, Shapir Engineering, specializing in infrastructure projects which operates a fleet of hundreds of vehicles, including heavy trucks and cement trucks, ordered the SaverOne System for an initial pilot of 20 trucks.
- Kfar Giladi Quarries installs SaverOne System on its full fleet of trucks: One of the biggest companies in the quarrying industry in Israel installed the SaverOne System on its fleet of heavy trucks. This win brings an additional heavy-industry customer, an important vertical, where the potential fleet size just in Israel is estimated in the tens of thousands.
- Emek Yizrael regional council installs SaverOne System on all of its school buses: The full potential for this vertical in Israel is 54 regional councils. Furthermore, this vertical holds much more significant potential with a goal of providing protection for students traveling on school buses in the United States, Europe and elsewhere.
- SaverOne System Installed on the large food delivery trucks of Shufersal – Israel’s leading supermarket: The installation of the SaverOne System was completed on a group of 19 large delivery trucks with potential of the entire Shufersal truck fleet of 150 delivery trucks. This vertical of delivery trucks is a key growth area for SaverOne.
- New collaboration with Colmobil – Israel Importer for Mercedez-Benz, Mitsubishi & Hyundai – to equip vehicles with SaverOne protection system. Under the collaboration agreement, Colmobil will work together with SaverOne to sell and install the SaverOne System into vehicles that it leases to its customers in order to prevent driver distraction from mobile phone use. This collaboration adds another key player in the Israeli market that will be able to lease vehicles to their customers with a SaverOne System pre-installed.
- SaverOne System installed on 30 delivery trucks of Tempo beverages- Israel’s leading beverage company, out of the local fleet of 120. Tempo represents leading global brands such as PepsiCo, Nestle’s premium water and iced tea brands, Nestea, Perrier water, and many more. The vertical of delivery trucks represents significant growth potential for SaverOne as well as further potential with international brands.
Financial Summary for the First Half of 2023
Revenues increased by 286% to NIS 1,475 thousand (~$399 thousand) in the first half of 2023 compared to NIS 382 thousand (~$103 thousand) for the first half of 2022. This increase was mainly the result of increased sales of the SaverOne System with new and existing customers throughout the past year.
Gross profit increased by 306% to NIS 467 thousand (~$126 thousand), representing gross margin of 32% in the first half of 2023 compared to NIS 115 thousand (~$31 thousand), representing gross margin of 30%, in the first half of 2022.
Research and development expenses, net were NIS 12.2 million (~$3.3 million) in the first half of 2023 compared to NIS 10.2 million (~$2.8 million) in the first half of 2022. This increase was due to the development of the Company’s next generation technology geared for international markets.
Selling and marketing expenses were NIS 1.4 million (~$392 thousand) in the first half of 2023 compared to NIS 0.5 million (~$130 thousand) in the first half of 2022. The increase is attributable mainly to higher payroll and marketing expenses, as part of the Company’s efforts to increase sales.
General and administrative expenses were NIS 4.5 million (~$1.2 million) in the first half of 2023, compared to NIS 2.5 million (~$679 thousand) in the first half of 2022. The increase in these expenses was mainly due to additional costs associated with being a US listed public company as well as higher insurance expenses.
Operating loss was NIS 17.6 million (~$4.8 million) in the first half of 2023 compared to NIS 13.1 million(~$3.5 million) in the first half of 2022, primarily due to increased operating expenses as detailed above.
Financing expense, net, was NIS 115 thousand (~$31 thousand) for the first half of 2023 compared to financing income, net, of NIS 1.2 million (~$314 thousand) in the first half of 2022. The increase is derived primarily from the higher appreciation of the USD against the NIS in the first half of 2022 compared to the appreciation of the USD against the NIS in the first half of 2023.
Net loss in the first half of 2023 was NIS 17.8 million (~$4.8 million), compared to NIS 11.9 million (~$3.2 million) for the first half of 2022.
Cash and cash equivalents and short-term bank deposits as of June 30, 2023, amounted to NIS 18.6 million (~$5.0 million), compared with NIS 29.3 million (~$7.9 million) as of December 31, 2022.
The Company’s financial results are presented in accordance with IFRS as issued by the IASB.
*Unless otherwise noted, for the purposes of the presentation of financial data, all conversions from New Israeli Shekels (NIS) to U.S. dollars and from U.S. dollars to NIS were made at the rate of NIS 3.70 to $1.00, based on the representative exchange rate reported by the Bank of Israel on June 30, 2023.
SaverOne Expands Presence across Private and School Bus Fleets with Six New Customer Wins
PETAH TIKVAH, Israel, Oct. 5, 2023 /PRNewswire/ — SaverOne 2014 Ltd.(NASDAQ: SVRE) (TASE: SVRE), a technology company specializing in transportation safety solutions, today announced the win of six new customers, advancing SaverOne’s footprint in the private bus fleet industry. The private bus fleet vertical, especially buses carrying school children, is key for SaverOne, representing significant growth potential internationally and has become an area of strategic focus for the Company.
SaverOne reported initial orders of 90 new installations of its in-cabin Driver Distraction Prevention Solution (DDPS), primarily on school buses. This represents only a portion of the full bus fleets of these customers and there remains strong potential for further orders in the coming weeks.
Ensuring passenger safety in both public and especially private and school bus transportation is of paramount importance. SaverOne’s DDPS removes a significant risk factor and a primary cause of road accidents by selectively disabling the driver’s mobile distractions. This safeguards passengers and other road users while preserving essential, non-distracting uses in compliance with each bus company’s strict safety guidelines.
Ori Gilboa, CEO of SaverOne, commented, “After securing our major deal earlier this year for over 1,200 vehicles with leading Israeli public bus company Elektra Afikim, we are continuing to grow and add new customers to our roster in this important vertical. We recently identified the private and school bus transportation verticals as a key strategic focus for SaverOne. We are now seeing solid and increasing traction among bus companies, especially those transporting and responsible for the safety of school children. As these new and growing orders demonstrate, customers and potential customers are increasingly recognizing the value of our solutions, both in Israel and internationally. Preventable accidents continue to claim lives and cause injuries. Our DDPS ensures that drivers remain focused on driving safely and undistracted, mitigating a significant risk.”
NEWS
PUBLISHED
MANAGEMENT
Ori Gilboa
CEO
Ori has extensive experience in managing companies with large volumes of activity in the automotive and retail industry. He served, among others, as the CEO of the Meir Group’s automotive division, the CEO of James Richardson, and the CEO of the Negev Group and more.
Yossi Cohen
Founder and COO
Yossi brings more than 25 years of experience in the telecommunications and automotive industries. Combining in-depth business, operations and technical knowledge. Yossi has led global business, operational and technology activities over the past two decades.
Omri Hagai
CFO
Over 10 years of experience in the financial management of public companies.
Prior to SaverOne, Omri served as Director of Finance for BrainsWay & Disclosure and Reporting Controller of Israel Chemicals.
Aviram Meidan
VP of R&D
Aviram has technological experience in communications and in the interface with the automotive industry. He has over 20 years of experience in developing multidisciplinary systems and managing development groups.