Tillkännagivande • Dec 24
RealNetworks, Inc.(NasdaqCM:RNWK) dropped from NASDAQ Composite Index RealNetworks, Inc. removed from Nasdaq Composite Index. Reported Earnings • Nov 10
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.16 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share (improved from US$0.16 loss in 3Q 2021). Revenue: US$11.7m (down 18% from 3Q 2021). Net loss: US$6.67m (loss narrowed 13% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Tillkännagivande • Nov 02
RealNetworks, Inc. to Report Q3, 2022 Results on Nov 08, 2022 RealNetworks, Inc. announced that they will report Q3, 2022 results After-Market on Nov 08, 2022 Tillkännagivande • Sep 02
RealNetworks, Inc. Receives A Second Letter from the Staff As previously reported, on February 18, 2022, RealNetworks, Inc. (the “ Company ”) received a letter from the Listing Qualifications Department (the “ Staff ”) of The Nasdaq Stock Market LLC (“ Nasdaq ”) indicating that, based upon the closing bid price of the Company’s common stock (the “ Common Stock ”) for the prior 30 consecutive business days, the Company was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on The Nasdaq Global Select Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “ Minimum Bid Price Requirement ”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was granted 180 calendar days, or until August 17, 2022, to regain compliance. On August 16, 2022 the Company applied to transfer its securities from The Nasdaq Global Select Market to The Nasdaq Capital Market and requested a second 180-day period to regain compliance with the Minimum Bid Price Requirement. On August 30, 2022, the Company received a second letter from the Staff approving the Company’s application to list its common stock on The Nasdaq Capital Market and advising that the Company had been granted an additional 180 calendar days, or until February 13, 2023, to regain compliance with the Minimum Bid Price Requirement, in accordance with Nasdaq Listing Rule 5810(c)(3)(A). The Company’s securities will be transferred to The Nasdaq Capital Market at the opening of business on September 1, 2022. The Company will continue to monitor the closing bid price of its Common Stock and consider implementing available options to regain compliance with the Minimum Bid Price Requirement within the allotted compliance period, including by effecting a reverse stock split, if necessary. If the Company does not regain compliance within the allotted compliance period, Nasdaq will provide notice that the Company’s Common Stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement during the 180-day extension. Reported Earnings • Jul 30
Second quarter 2022 earnings released: US$0.11 loss per share (vs US$0.03 loss in 2Q 2021) Second quarter 2022 results: US$0.11 loss per share (down from US$0.03 loss in 2Q 2021). Revenue: US$11.9m (down 19% from 2Q 2021). Net loss: US$5.14m (loss widened 281% from 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 7.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Tillkännagivande • Jul 19
RealNetworks, Inc. to Report Q2, 2022 Results on Jul 28, 2022 RealNetworks, Inc. announced that they will report Q2, 2022 results After-Market on Jul 28, 2022 Tillkännagivande • Jul 02
RealNetworks, Inc. Announces Resignation of Michael Ensing as President and Chief Operating Officer RealNetworks, Inc. announced that on June 27, 2022, Michael Ensing tendered his resignation as President and Chief Operating Officer of RealNetworks, Inc., effective as of June 30, 2022. Mr. Ensing has been with the Company for 2.5 years and has decided to step down. Mr. Ensing will continue his employment with the Company as a strategic advisor from July 1 until August 19, 2022. Tillkännagivande • Jun 29
RealNetworks, Inc. Announces Executive Leadership Changes RealNetworks, Inc. announced two significant changes to its leadership team. First, Real announced the appointment of Paul DiPeso to the newly created position of President, SAFR. Mr. DiPeso started and reports to CEO Rob Glaser. Mr. DiPeso has over 25 years of top management experience in physical security with leading industry corporations. He was most recently Executive Vice President and General Manager of Feenics, an Access Control as a Service (ACaaS) software solutions company that was recently acquired by ACRE. He previously served in various physical security executive roles at Tyco International, Lenel, a subsidiary of United Technologies Corp. and Honeywell International. Mr. DiPeso earned his Bachelor of Science in Communications from Towson University. Second, now that Real has appointed Presidents for each of its three growth initiatives – SAFR, Messaging, and Games -- President and Chief Operating Officer Mike Ensing will be transitioning to a strategic advisor role at the company, effective July 1, 2022. Recent Insider Transactions • May 27
Insider recently bought €81k worth of stock On the 23rd of May, Thomas Satterfield bought around 150k shares on-market at roughly €0.54 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Tillkännagivande • May 10
Robert Glaser, Founder, Chairman and Chief Executive Officer of RealNetworks made a non-binding proposal to acquire remaining 62% stake in RealNetworks, Inc. (NasdaqGS:RNWK) for $19.7 million. Robert Glaser, Founder, Chairman and Chief Executive Officer of RealNetworks made a non-binding proposal to acquire remaining 62% stake in RealNetworks, Inc. (NasdaqGS:RNWK) for $19.7 million on May 9, 2022. Purchase price of $0.67 per share in cash, subject to certain conditions. Robert Glaser, together with his affiliates, currently owns approximately 38% of the outstanding shares of RealNetworks stock. Tillkännagivande • May 08
SAFR SCAN Wins 2022 Platinum Govies Award for Access Control - Biometrics RealNetworks, Inc. announced that its recently introduced SAFR SCAN™ facial recognition reader is the recipient of the 2022 Platinum Govies Award for Access Control – Biometrics. The prestigious award was announced by Security Today April 26, 2022, honoring SAFR SCAN as being an outstanding product for government security applications. SAFR SCAN was selected for the 2022 Platinum Govies Award for Access Control – Biometrics by an independent panel of judges from the security industry. Product entries were evaluated based on their features, innovation, user friendliness, interoperability, quality, design, market opportunity, technical advances, scalability, and impact in the security industry. Manufactured in the USA, and fully TAA and NDAA compliant, SAFR SCAN is a touchless biometrics solution that provides much more secure, reliable and accurate operation than keycard-based systems, and is engineered for use in both indoor and outdoor applications. Designed for mainstream access control, workforce management and health safety applications, SAFR SCAN combines the latest identity management authentication technologies with advanced features and a highly competitive MSRP of $1,199. Reported Earnings • May 06
First quarter 2022 earnings released: US$0.11 loss per share (vs US$0.27 loss in 1Q 2021) First quarter 2022 results: US$0.11 loss per share (up from US$0.27 loss in 1Q 2021). Revenue: US$13.3m (down 16% from 1Q 2021). Net loss: US$5.23m (loss narrowed 50% from 1Q 2021). Over the next year, revenue is expected to shrink by 6.6% compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Tillkännagivande • May 05
RealNetworks, Inc. Provides Earnings Guidance for the Second Quarter Ending June 30, 2022 RealNetworks, Inc. provided earnings guidance for the second quarter ending June 30, 2022. For the period, the company expects total revenue is expected to be in the range of $11.0 million to $12.5 million. Tillkännagivande • Apr 22
RealNetworks, Inc. to Report Q1, 2022 Results on May 04, 2022 RealNetworks, Inc. announced that they will report Q1, 2022 results After-Market on May 04, 2022 Tillkännagivande • Apr 07
RealNetworks, Inc. Appoints Mike Cooley as President for Kontxt, Messaging, and Telecom RealNetworks, Inc. announced the appointment of Mike Cooley to the newly created position of President for KONTXT, Messaging, and Telecom. This new role is recognition of both the significant progress Real has made in developing KONTXT® into a core platform for Real's future, and the large opportunities available to turn KONTXT into a very significant business at Real. Cooley's mission is to drive KONTXT's strategy, sales, and business operations; to lead Real's worldwide efforts in the telecom industry for KONTXT and other communications products; and to partner with world class product team to continue to drive forward the development of world class technology, products, and services based on Machine Learning-based Natural Language Processing (NLP). Tillkännagivande • Feb 28
RealNetworks Receives A Letter from the Listing Qualifications Staff of the Nasdaq Stock Market On February 18, 2022, RealNetworks, Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC indicating that, based upon the closing bid price of the Company's common stock for the last 30 consecutive business days, the Company no longer meets Nasdaq Listing Rule 5550(a)(2), which requires listed companies to maintain a minimum bid price of at least $1 per share. Nasdaq Listing Rule 5810(c)(3)(A) provides a compliance period of 180 calendar days, or until August 17, 2022, in which to regain compliance with the minimum bid price requirement. If the Company evidences a closing bid price of at least $1 per share for a minimum of 10 consecutive business days during the 180-day compliance period, the Company will automatically regain compliance. In the event the Company does not regain compliance with the $1 bid price requirement by August 17, 2022, the Company may be eligible for consideration of a second 180-day compliance period. To qualify for this additional compliance period, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq’s Global Select Market, other than the minimum bid price requirement. In addition, the Company would also be required to notify Nasdaq of its intent to cure the minimum bid price deficiency. Reported Earnings • Feb 11
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.48 loss per share (down from US$0.13 loss in FY 2020). Revenue: US$58.2m (down 14% from FY 2020). Net loss: US$21.2m (loss widened 340% from FY 2020). Revenue missed analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 1.1%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Tillkännagivande • Feb 10
RealNetworks, Inc. Provides Earnings Guidance for the First Quarter Ending March 31, 2022 RealNetworks, Inc. provided earnings guidance for the first quarter ending March 31, 2022. For the year, the company expects total revenue to be in the range of $12.0 million to $14.0 million. Tillkännagivande • Feb 04
SAFR from RealNetworks Launches SAFR Version 3.8 SAFR from RealNetworks, Inc. announced SAFR version 3.8. Available now, SAFR version 3.8 includes easy SSL support, updated enterprise capabilities, and enhanced usability. Operator Console Usability: SAFR’s AI-powered recognition with liveness detection quickly (within 0.3 seconds) and accurately verifies and displays the name of a matched person. In version 3.8, the SAFR Operator Console improves usability by adding a match association by color capability, additional anti-cluttering capability, and quick access to live camera feeds through the alerts panel. These upgraded capabilities allow the end-user to move more quickly through the SAFR dashboard. SAFR’s 3.8 release adds the ability to conceal age and gender metadata from the live monitoring tools while continuing to utilize all available metadata when searching event history as part of a forensic investigation. Easy SSL Support: Ensuring security is critical when working with data such as facial biometric signatures. SAFR has always made privacy and security a top priority. Securing data in transit is an important component of that security. SAFR 3.8 makes it even easier to set up secure SSL communication by removing the need to register an SSL CERT and associated domain by allowing unique self-signed CERTs to be generated per-deployment and used securely for client-to-server or server-to-server communication. Enterprise Capabilities: SAFR 3.8 expands enterprise capabilities allowing for total control from a central server. Users can now manage all video feeds in one location as well as manage server configuration on all subsidiary servers, including event archive, identity sync, data retention, email, and SMS notifications. Central control can be enabled or disabled and does not need to be universally granted. These expanded enterprise capabilities allow the user to view the status of all processors deployed on each connected server from any device including mobile devices. Tillkännagivande • Jan 30
RealNetworks, Inc. to Report Q4, 2021 Results on Feb 09, 2022 RealNetworks, Inc. announced that they will report Q4, 2021 results After-Market on Feb 09, 2022 Tillkännagivande • Dec 15
RealNetworks Introduces KONTXT for Images to Help Stop Spam and Scam Images from Being Sent Via Text RealNetworks unveiled ?KONTXT®?for Images to identify and stop scam images sent via text messages.? This service has now been deployed to two of the top?three?US mobile operators protecting A2P (Application to Person) and P2P (Person to Person) messaging channels. Over the past year, KONTXT security analysts have discovered gaps in TelCo communication networks for messages sent to mobile devices via MMS (Multimedia Messaging Service) protocol.? When mobile subscribers send text messages that include images, they are sent over MMS instead of SMS (Short Message Service).? The problem is, criminal spammers and fraudsters also use this route to send images that look like text messages to engage in phishing & smishing, as well as coupons for illegal drug and pharmaceutical offers that would typically have been blocked via KONTXT-protected SMS routes. The KONTXT for Images real-time scanning service provides deep inspection of images and other files that are transmitted to mobile devices via MMS.? KONTXT scans go beyond simple URL and virus scanning-- which miss millions of fraudulent messages a day-- by breaking down and inspecting the content within the MMS message.? The service examines both text and image elements to spot patterns of text, URLs, and other embedded signals that criminals use to defraud unsuspecting mobile customers.? The impact of this service is two-fold.? It reduces spam and scam message reports from customers of these mobile operators,?which leads to higher customer satisfaction. KONTXT for Images eliminates a significant volume of large messages with embedded images reducing TCO for messaging infrastructure. Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$0.16 loss per share (vs US$0.084 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$14.3m (down 13% from 3Q 2020). Net loss: US$7.67m (loss widened 137% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • May 14
First quarter 2021 earnings released: US$0.27 loss per share (vs US$0.12 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$15.9m (down 63% from 1Q 2020). Net loss: US$10.4m (loss widened 125% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Tillkännagivande • May 13
RealNetworks, Inc. Provides Revenue Guidance for the Second Quarter Ending June 30, 2021 RealNetworks, Inc. provided revenue guidance for the second quarter ending June 30, 2021. For the quarter, the company's total revenue is expected to be in the range of $14.0 million to $15.5 million. Tillkännagivande • Apr 28
RealNetworks, Inc. has completed a Follow-on Equity Offering in the amount of $22.275 million. RealNetworks, Inc. has completed a Follow-on Equity Offering in the amount of $22.275 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 8,250,000
Price\Range: $2.7
Discount Per Security: $0.162 Tillkännagivande • Feb 12
RealNetworks, Inc. Not Providing Guidance for the First Quarter Ending March 31, 2021 RealNetworks, Inc. announced that as has been the case over the past year, it is not providing guidance for the first quarter ending March 31, 2021. Is New 90 Day High Low • Feb 07
New 90-day high: €2.28 The company is up 124% from its price of €1.02 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 11% over the same period. Tillkännagivande • Jan 22
RealNetworks, Inc. to Report Q4, 2020 Results on Feb 10, 2021 RealNetworks, Inc. announced that they will report Q4, 2020 results After-Market on Feb 10, 2021 Is New 90 Day High Low • Jan 21
New 90-day high: €1.51 The company is up 14% from its price of €1.32 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 12% over the same period. Tillkännagivande • Dec 04
Setelsa Security Selects SAFR from RealNetworks to Provide Face-Based Biometrics for Secure Access Setelsa Security announced that it has chosen SAFR from RealNetworks chosen SAFR from RealNetworks inc. The partnership integrates SAFR’s AI-based computer vision technology — face detection, face recognition, and mask detection — into Setelsa’s market-leading secure access solutions. Face-based secure access has many advantages over traditional card- or pin-based authentication methods and over alternative biometrics such as fingerprint authorization. SAFR’s industry leading recognition accuracy for masked faces, now exceeding 98.85%, ensures subjects do not need to remove PPE to be recognized at a secure access point. Tillkännagivande • Nov 17
SAFR from RealNetworks, Inc Announces A Global Partnership with German Tech Company G2K Group GmbH SAFR from RealNetworks, Inc. announced a global partnership with German tech company G2K Group GmbH to revolutionize real-time video analytics. SAFR features including face recognition, mask detection, person detection, and demographic analysis have been integrated into Parsifal — a robust AI platform providing actionable video analytics for verticals such as retail, transportation, smart cities, and sports and entertainment. SAFR’s mask detection and Parsifal’s contactless body temperature scan were key features that won G2K a contract from the Union of European Football Associations (UEFA) to provide entry screening for spectators attending the Super Cup Final 2020. SAFR’s high performance on live video makes it a natural fit for integration into Parsifal, which relies on actionable real-time insights to improve general surveillance, behavioral predictions, access control, and response to COVID-19 health and safety measures. The first major deployment of Parsifal featuring SAFR was in September at the UEFA Super Cup Final 2020 in Budapest, where a partial return of fans was tested under guidelines by the Hungarian Public Health Authorities. The SAFR-enabled Parsifal platform enabled more than 15,000 spectators to return to the stadium under the required health and safety conditions. Parsifal was deployed on cameras at each entry, performing rapid, automated fever scanning and mask detection while alerting attendants of any anomalies. According to Andreas Schaer, Chief of Venue Operations for UEFA, the automated screening technology deployed by G2K helped UEFA and the Hungarian Football Federation deliver a safe and secure major football event with public attendance for the first time since the COVID-19 pandemic began. Reported Earnings • Nov 05
Third quarter 2020 earnings released: US$0.084 loss per share The company reported a soft third quarter result with weaker revenues and control over expenses, though losses reduced. Third quarter 2020 results: Revenue: US$16.6m (down 63% from 3Q 2019). Net loss: US$3.23m (loss narrowed 46% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Oct 29
SAFR® from RealNetworks Launches Version 3.0 Featuring Enhanced COVID-19 Response Features and a New High Sensitivity Face Detector SAFR from RealNetworks, Inc. announced improved face detection and recognition accuracy for both masked and unmasked faces with the release of SAFR 3.0. Available now, SAFR’s 3.0 release introduces a new default high sensitivity face detector. Customers running the high sensitivity face detector will see a 95.1% detection rate and 98.85% recognition accuracy rate for faces covered by PPE face masks — including non-surgical fabric masks of varying patterns — in surveillance-style videos of faces in motion. Detection efficiency has also been improved when multiple faces are simultaneously in the field of view to ensure detection and recognition speeds remain high. SAFR 3.0 also includes a new mask detection dashboard that enables customers to anonymously track mask usage rates and view and filter by age, gender, location, and time. This dashboard joins the existing occupancy and traversal dashboards available in the SAFR web console. Tillkännagivande • Oct 15
Otay-Tijuana Venture LLC Chooses SAFR® from RealNetworks To Enhance Terminal Efficiency Otay-Tijuana Venture LLC has chosen SAFR® from RealNetworks’ video analytics technology to be used throughout the San Diego - Tijuana terminal in order to optimize operations and improve passenger flow. The first building to connect the United States to a foreign airport terminal, CBX serves millions of passengers that cross the border as part of their trip, helping them avoid unforeseen delays in the congested border crossings of San Ysidro and Otay. The 390 ft long bridge is a hub for many daily situations where technology, process, and people work together to create a safe and efficient passenger experience. AI video analytics technology ensures CBX staff have actionable data at their fingertips as they monitor passenger flows and make real-time decisions. SAFR has recently added additional features specifically designed to help customers respond to the global COVID-19 pandemic including mask detection and occupancy counting. CBX has applied the mask detection feature to passenger flow monitoring to better track mask compliance and gather critical operations data. Tillkännagivande • Oct 14
RealNetworks, Inc. to Report Q3, 2020 Results on Nov 03, 2020 RealNetworks, Inc. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 03, 2020 Tillkännagivande • Sep 19
RealNetworks, Inc. Appoints Brad Donaldson as Vice President, Computer Vision RealNetworks, Inc. announced the appointment of Brad Donaldson as Vice President, Computer Vision to lead the strategic development and market expansion of the SAFR product line. Most recently, Brad oversaw the introduction of Arecont Vision Costar's new Contera Total Solution line of products, including a Video Management Software package with Cloud Managed Recorders and a complete line of cutting-edge megapixel cameras. Tillkännagivande • Aug 26
MelodyVR Group PLC (AIM:MVR) entered into an agreement and plan of merger to acquire Rhapsody International Inc. from RealNetworks, Inc. (NasdaqGS:RNWK) and others for $70.2 million. MelodyVR Group PLC (AIM:MVR) entered into an agreement and plan of merger to acquire Rhapsody International Inc. from RealNetworks, Inc. (NasdaqGS:RNWK) and others for $70.2 million on August 24, 2020. The consideration consists $15 million in cash, issuance of approximately 200 million ordinary shares of MelodyVR and assumption by MelodyVR of $44 million in payment obligations, primarily to various music industry entities. Consideration payable to RealNetworks is subject to a $3 million escrow and certain further indemnity claims, as well as contingent consideration obligations associated with its acquisition of Columbus Nova's 42% stake in Napster in January of 2019. MelodyVR will advance an initial $6 million deposit which will be placed into escrow, followed by an additional $6 million deposit which is expected to be advanced shortly thereafter and upon satisfaction of certain post-signing conditions. In the event that the merger fails to complete due to Rhapsody International being unable to meet the closing conditions of the merger, the deposit will be refunded to the MelodyVR and Rhapsody International must repay any advances to the MelodyVR within six months of completion. In the event that the MelodyVR fails to fulfill certain closing obligations under the merger agreement, the deposit may be forfeited. A further deposit of $3 million will be deposited in escrow account to be release 18 months after closing. Upon completion, Rhapsody International will be a wholly owned subsidiary of MelodyVR Group. Rhapsody International generated revenues in the amount of $112.6 million in 2019. The transaction is subjected to approval from shareholders of MelodyVR at general meeting. The transaction is expected to close in the end of November 2020. Tillkännagivande • Aug 23
RealNetworks, Inc. Provides Update on Earnings Guidance for the Third Quarter Ending September 30, 2020 RealNetworks, Inc. provided update on earnings guidance for the third quarter ending September 30, 2020. The company announced that given the ongoing uncertainty surrounding the global economy and the future impact of COVID-19, RealNetworks is not providing guidance for the third quarter ending September 30, 2020. Tillkännagivande • Jul 17
RealNetworks, Inc. to Report Q2, 2020 Results on Aug 05, 2020 RealNetworks, Inc. announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Aug 05, 2020 Tillkännagivande • Jul 03
RealNetworks, Inc.(NasdaqGS:RNWK) dropped from Russell Microcap Index RealNetworks, Inc.(NasdaqGS:RNWK) dropped from Russell Microcap Index Tillkännagivande • Jul 02
RealNetworks, Inc.(NasdaqGS:RNWK) dropped from Russell Microcap Value Index RealNetworks, Inc.(NasdaqGS:RNWK) dropped from Russell Microcap Value Index