In trading on Monday, the Israeli company Beamr experienced a massive increase of about 1500% after announcing a collaboration with chip giant Nvidia. Founded and managed by Sharon Carmel, Beamr provides solutions in the fields of video and broadcasting, including encoding, converting and optimizing video for high quality, performance and efficiency. The company’s clients include content distributors, internet broadcasting companies, streaming platforms and Hollywood studios.
Beamr announced today that it is collaborating with Nvidia to facilitate the transition to the AV1 format on a larger scale while maintaining quality. The study presented by the company shows that while the use of video is growing exponentially, most videos today are still based on a 20-year-old format (AVC / H.264) that existed even before smartphones and high-speed Internet. Tamar Shoham, Beamr’s CTO, explained that the adoption of the upgraded video standard was a complex transition due to two reasons: the demand for much more computing power and therefore higher costs, and the demand for a sharp learning curve because it is difficult to understand how much additional compression is possible without sacrificing video quality. However, Beamr’s technology with Nvidia meets both challenges by using Nvidia hardware so that the performance is similar or even better than previous formats while keeping costs at a similar level.
In terms of financial performance, Beamr recorded revenues of $1.4 million in the first three quarters of 2023 compared to $1.2 million in the corresponding period in 2022. The company expects 2023 to end with a similar level of revenues as 2022 but growth to accelerate in 2024.