View Message to Customers Provides Update on Strong Business Performance and Warranty Commitments
August 23 2021 - 7:00AM
View, Inc. (NASDAQ: VIEW) (“View”), the leader in smart building
technologies, today posted the following message to customers on
its website, www.view.com:
“Dear Customers,
I’m writing to you today to highlight View’s strong business
performance and warranty commitments. As you may know, we announced
last week that we are delaying the release of our complete Q2 2021
financial results while we conduct an internal review of the
accounting treatment of our non-cash warranty accrual related to an
older version of our product. This review does not affect the pace
of our operations or our ability to produce and deliver quality
products. I assure you that we stand behind our warranty contracts
and continue to deliver the customer experience and innovation you
expect from us.
The real estate industry is in the early stages of a massive
transformation driven by unstoppable advancements in technology and
the urgent need to address climate change and improve human health.
At View, we remain as focused as ever on our mission to help you
build healthy, sustainable, smart buildings.
Last week, we announced our preliminary Q2 revenue and provided
a business update. Thanks to the pioneering role each of you play
in the movement to transform buildings, we had another record
quarter with revenues more than doubling from the same period last
year, continuing our rapid growth trajectory. We added exciting new
product offerings and capabilities that will accelerate the
positive change in the industry and announced several new business
wins across all key markets. Notably, a significant portion of
our revenue continues to come from repeat customers, reflecting the
value and quality of our product and the strength of our customer
relationships.
We reported that we have over $450M in cash at the end of Q2 and
are well capitalized for the journey ahead. We have in place strong
foundations of technology, operations, and human capital, and will
continue to ramp our production and operational capabilities to
transform one of the world’s largest industries. We will also
continue to invest aggressively in R&D to broaden our
portfolio, strengthen our platforms, and deliver exciting new
products.
The entire team at View wakes up every day on a mission to solve
some of the hardest and most pressing challenges of our time. I am
grateful to work alongside some of the smartest and most committed
colleagues on the planet. Their ingenuity, dedication, commitment
to excellence, and customer obsession will continue to fuel our
success.
Thank you for your support and partnership in this journey
together.
Best Regards,
Rao Mulpuri, PhDChairman & CEO, View, Inc.”
About ViewView is the leader in smart building
technologies that transform buildings to improve human health and
experience, reduce energy consumption and carbon emissions, and
generate additional revenue for building owners. View Smart Windows
use artificial intelligence to automatically adjust in response to
the sun, eliminating the need for blinds and increasing access to
natural light. Every View installation includes a cloud-connected
smart building platform that can easily be extended to improve
indoor cellular coverage, enhance building security and reimagine
the occupant experience. View is installed and designed into 75
million square feet of buildings including offices, hospitals,
airports, educational facilities, hotels and multi-family
residences. For more information, please visit: www.view.com.
Contacts:
For Investors: Samuel MeehanView,
Inc.IR@View.com408-493-1358
For Media:Megan Bouchier / Brandon Pinto Sard Verbinnen
& CoView@sardverb.com415-618-8750
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