DETROIT - Amesite Inc. (NASDAQ:AMST), an artificial intelligence software company, has secured a five-year partnership with Volunteer State Community College to offer non-degree AI and technical training programs. This collaboration aims to provide industry certification and workforce development in a region with growing technical demands.
Volunteer State Community College, a public two-year institution north of Nashville, Tennessee, serves over 7,000 students across four campuses. The college is focused on delivering programs that enhance job performance and support community workforce development. Nicholas Bishop from Vol State commented on the importance of adapting to AI advancements and the potential benefits of Amesite's technology and retention rates for the college's programs.
Amesite's Vice President of Sales, Brandon Owens, expressed excitement about the partnership, emphasizing the expected mutual success and the impact on higher education. The company's CEO, Dr. Ann Marie Sastry, highlighted that Vol State is the fifth institution to join since the introduction of Amesite's no setup fee offer, indicating an uptick in sales activity and partnerships with educational providers.
Amesite, known for its AI-driven online learning platform, supports content creation and infrastructure within the online learning markets. This partnership with Vol State is part of Amesite's strategy to expand its customer base and generate sustainable revenue.
Vol State has a wide range of programs, including the Division of Workforce Development, which offers non-academic credit learning opportunities, OSHA, work-based learning, and customized training programs.
The information for this article is based on a press release statement.
InvestingPro Insights
In light of Amesite Inc.'s (NASDAQ:AMST) recent partnership with Volunteer State Community College, several key metrics from InvestingPro provide a snapshot of the company's financial health and market performance. Amesite's market capitalization stands at a modest $5.82 million USD, reflecting its status as a smaller player in the tech sector. Despite facing challenges with revenue growth, which has declined by 51.12% over the last twelve months as of Q2 2024, the company holds a notable InvestingPro Tip: it has more cash than debt on its balance sheet, which could provide financial flexibility in its operations and growth strategies.
Another InvestingPro Tip of interest is that analysts anticipate sales growth in the current year for Amesite, which may align with the company's strategic partnership initiatives such as the one with Volunteer State Community College. However, investors should be aware of the company's high price volatility, as Amesite's stock price movements are quite volatile, which could lead to significant price swings.
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