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Could QuantumScape Get Acquired?

InvestorPlace - Stock Market News, Stock Advice & Trading Tips QuantumScape Corp. (QS) stock's 93% plunge from all-time highs makes it a vulnerable acquisition target as it scales up development. The post Could QuantumScape Get Acquired? appeared first on InvestorPlace. More From InvestorPlace $200 Oil Sooner Than You Think – Buy This Now The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 in savings or $5 million. Do this now......»»

Category: topSource: investorplaceJun 23rd, 2022

Earthstone (ESTE) to Acquire $627M Northern Delaware Asset

The deal, once completed, will significantly increase Earthstone Energy's (ESTE) cashflows. Earthstone Energy, Inc. ESTE has announced an accord to purchase the New Mexico assets of Titus Oil & Gas Production. The low-cost high-margin assets are situated in the prolific northern Delaware Basin.The acquisition price is approximately $627 million. Earthstone Energy said that for acquiring the assets, it will employ cash of $575 million along with its 3.9 million shares Class A common stock. It expects the deal to close in the third quarter of 2022.The assets to be purchased by ESTE are spread across 7,900 net acres in the core of Delaware Basin – a sub-basin of broader Permian, the most prolific basin in the United States – in Lea and Eddy Counties, New Mexico. The to-be-acquired properties have average net production of roughly 31,800 barrels of oil equivalent per day (BoE/d) in June from 37 net operated wells.The deal, once completed, will significantly increase Earthstone Energy’s cashflows. In the fourth quarter of this year, ESTE expects the agreement to increase its net production by 18,000 to 23,000 BoE/d, of which 65% will be crude oil. In the prolific Delaware Basin, ESTE’s acreage position will get boosted to roughly 44,000 net acres.  Currently, Earthstone Energy carries a Zacks Rank #2 (Buy). Other prospective players in the energy space include Antero Resources AR, Whiting Petroleum WLL and Matador Resources Company MTDR. All the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Antero Resources is a leading upstream energy player with a strong presence in the gas-rich prolific Appalachian Basin in West Virginia and Ohio. In the past 60 days, Antero Resources has witnessed upward earnings estimate revisions for 2022 and 2023.The substantial exposure to improving commodity price is a huge positive for Antero Resources.Whiting Petroleum is a leading upstream energy company and the top producer of crude oil in North Dakota. With oil prices improving rapidly, Whiting Petroleum is expected to continue generating handsome cash flows while maintaining a healthy balance sheet.Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days.Improving oil prices is a boon for Matador Resources’ upstream operations. This is because MTDR has a strong presence in oil-rich core acres of the Wolfcamp and Bone Spring plays in the Delaware Basin. Favorable oil price is likely to aid Matador Resources in increasing production volumes. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Whiting Petroleum Corporation (WLL): Free Stock Analysis Report Matador Resources Company (MTDR): Free Stock Analysis Report Antero Resources Corporation (AR): Free Stock Analysis Report Earthstone Energy, Inc. (ESTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 13 min. ago

Twilio (TWLO) Enters Canadian Technology Market, Boosts Presence

The cloud-based communications platform-as-a-service provider, Twilio (TWLO) officially enters Canada's booming technology sector and expands its reach outside of the United States. Twilio Inc. TWLO recently announced that the company has officially entered the Canadian market. The San Francisco-based customer engagement platform service provider named Dino Marasco as the region's new vice president and general manager.The Twilio team grew to several dozen of employees within a span of six months in Canada. This highlights the company’s objective to enhance international operations outside the U.S. office. Marasco stated, “We’re incredibly eager to take advantage of the massive opportunity to support Canadian businesses in building direct, long-term relationships with their customers." The company is still hiring to fill positions in Canada.The Canadian technology sector is fueling growth across the economy at present without showing any signs of sluggishness. A foray into this booming sector will assist Twilio in accelerating its business growth while making an impression worldwide.Twilio Inc. Price and Consensus Twilio Inc. price-consensus-chart | Twilio Inc. QuotePer the latest Business Development Bank of Canada report, the country’s technology sector is anticipated to witness growth of 5.3% in 2022. The country has emerged as a tech hub due to a top-tier university system, corporate offices and a convenient immigration policy. Twilio aims to make an impact in the Canadian healthcare and life sciences, retail and financial services industries through its presence.Twilio has been continuously making investments to meet the requirements of a broad range of global developers and enterprises. Its efforts toward global expansion are commendable. In July 2021, the company acquired the leading toll-free messaging services provider, Zipwhip, to strengthen its customer engagement capabilities. In first-quarter 2022, the Zipwhip business contributed $32.2 million to total revenues, accounting for a 4% margin.In March 2021, the company expanded its footprint in the Indian communication market with the buyout of ValueFirst, a communications-platform-as-a-service firm. Twilio’s Segment buyout in 2020 helped it to improve its capabilities in the cloud-based communications platform space and gained significant customers.Zacks Rank & Other Stocks to ConsiderTwilio currently carries a Zacks Rank #2 (Buy). Shares of TWLO have plunged 77.2% in the past year.Some other top-ranked stocks from the broader Computer and Technology sector are Analog Devices ADI, Axcelis Technologies ACLS and Baidu BIDU. While Analog Devices and Axcelis currently flaunt a Zacks Rank #1 (Strong Buy), Baidu carries a Zacks Rank of 2. You can see the complete list of today's Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Analog Devices' third-quarter fiscal 2022 earnings has been revised upward by 24 cents to $2.42 per share over the past 60 days. For fiscal 2022, earnings estimates have moved 81 cents north to $9.24 per share in the past 60 days.Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 7.7%. Shares of ADI have decreased 14.4% in the past year.The Zacks Consensus Estimate for Axcelis' second-quarter fiscal 2022 earnings has been revised 3 cents northward to 99 cents per share over the past 60 days. For 2022, earnings estimates have moved 10.3% north to $4.40 per share in the past 60 days.Axcelis' earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 23.5%. Shares of ACLS have surged 35.5% in the past year.The Zacks Consensus Estimate for Baidu's second-quarter 2022 earnings has been revised 2 cents southward to $1.38 per share over the past 30 days. For 2022, earnings estimates have moved 74 cents north to $8.27 per share in the past 30 days.Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 52.9%. Shares of BIDU have fallen 25.8% in the past year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Analog Devices, Inc. (ADI): Free Stock Analysis Report Baidu, Inc. (BIDU): Free Stock Analysis Report Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report Twilio Inc. (TWLO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 13 min. ago

Lithia"s (LAD) Latest Buyouts to Add $950M in Annual Sales

With the latest buyouts, Lithia's total expected annualized revenues acquired in 2022 so far reach over $2.1 billion. Lithia Motors LAD recently announced the acquisition of nine Lehman Auto World dealerships. With these buyouts, Lithia has expanded its footprint in South Florida. In November 2021, the company had made its foray in South Florida with the addition of two Audi stores, which significantly bolstered the company’s luxury foothold in the Southeast region.In addition to the nine Lehman dealerships, it has also purchased two Esserman International stores in Miami-Dade County. These 11 dealerships are expected to add $850 to Lithia’s annualized revenues.The company also bolstered its presence in Las Vegas with the buyout of Henderson Hyundai and Genesis. This marks Lithia’s eighth purchase in the Las Vegas metro store and is expected to add $100 million in annual revenues. Lithia has been riding on a spree of acquisitions, which brought the firm’s total expected annualized revenues acquired to $7 billion in 2021, keeping it well ahead of the schedule laid out in the five-year plan rolled out in July 2020. Lithia targets to generate $50 billion in revenues and $55 in earnings per share by 2025, including 200 plus acquisitions. With the latest buyout, Lithia’s total expected annualized revenues acquired in 2022 so far have reached over $2.1 billion.Apart from its strategic buyouts, Lithia is benefiting from the digitization ramp-up. Enhanced digital solutions — including the Driveway e-commerce program — are helping Lithia to further boost profitability and market presence. It is the company’s e-commerce home solution, which enables customers to purchase or sell vehicles online and schedule at-home services. Driveway exceeded 15,000 annual transactions run rate in 2021. Encouragingly, more than 97% of the transactions completed on Driveway were new customers. Growth on the platform would serve as a key to longer-term market share gains and earnings accretion. Driveway is targeting $1 billion in revenues in 2022 and further scaling to $9 billion in annual revenues by 2025, thus setting the path for Lithia’s rapid growth.Thanks to its solid profitability and cash-generating potential, the company remains committed to maximizing shareholders’ value. Year to date, Lithia has bought back approximately 2.1 million shares at a weighted average price of $285, with roughly $116 million remaining under its current authorization.Zacks Rank & Other Key PicksLithia currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked players in the same space include AutoNation AN, Group 1 Automotive GPI and Penske Automotive PAG. Each of these stocks is Ranked #1.AutoNation is valued at roughly $7 billion. The Zacks Consensus Estimate for AN’s 2022 earnings has been revised 5.4% upward over the past 60 days. The company has a projected earnings growth rate of 28% for 2022. AutoNation’s strong footprint, large dealer network, aggressive store expansion efforts along with brand extension strategy and alliances are praiseworthy.Penske is valued at around $8 billion. The Zacks Consensus Estimate for PAG’s 2022 earnings has been revised 3.4% upward over the past 30 days. The company has a projected earnings growth rate of 13.7% for 2022. Penske’s spree of buyouts, low leverage and commitment to maximizing shareholder value augur well.Group 1 is valued at approximately $2.9 billion. The Zacks Consensus Estimate for GPI’s 2022 earnings has been revised 11.8% upward over the past 60 days. The company has a projected earnings growth rate of 23% for 2022. In 2021, Group 1 completed transactions representing $2.5 billion of acquired revenues. The AcceleRide platform, its online retailing initiative, active at most of the firm’s U.S. dealerships, is likely to aid Group 1’s long-term prospects. You can see the complete list of today’s Zacks #1 Rank stocks here.  Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Penske Automotive Group, Inc. (PAG): Free Stock Analysis Report AutoNation, Inc. (AN): Free Stock Analysis Report Group 1 Automotive, Inc. (GPI): Free Stock Analysis Report Lithia Motors, Inc. (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 13 min. ago

Axsome (AXSM) Hurt by Regulatory Setbacks: Will It Recover?

Axsome's (AXSM) extension of the review period for AXS-05 NDA and CRL for AXS-07 NDA hurt prospects. However, recent positive updates on AXS-05 are driving positive sentiments. Axsome Therapeutics AXSM is currently focused on commercialization of its lead pipeline candidate — AXS-05. A potential approval from the FDA is anticipated shortly.The company has four candidates in its CNS pipeline — AXS-05, AXS-07, AXS-12 and AXS-14. The company is developing AXS-05 for treating multiple indications, including major depressive disorder (MDD), treatment-resistant depression (TRD) and agitation associated with Alzheimer's disease (AD). It is developing AXS-07 as an acute treatment for migraine. These two candidates are the leading ones in the company’s pipeline.However, Axsome has faced a few regulatory setbacks related to both AXS-05 and AXS-07 in the past few quarters that hurt its share price. However, recent developments have attracted investors to this biotech stock with the potential for upward movement in the coming months.Shares of Axsome have declined 3.3% so far this year compared with the industry’s decrease of 23.4%. The company’s shares have shown some recovery during June.Image Source: Zacks Investment ResearchRegulatory SetbacksAxsome had filed two new drug applications (NDAs) seeking approval for AXS-05 as a treatment for MDD patients and AXS-07 for migraine patients in 2021.A potential decision related to the NDA for AXS-05 was expected in August last year. However, the FDA extended the review period for the NDA in the same month, following the identification of deficiencies within the NDA that preclude labeling discussions. AXSM submitted its response to the FDA during the first quarter of 2022. In 2021, the company faced another setback when the FDA rescinded its Breakthrough Therapy designation for its cataplexy candidate, AXS-12. The company’s NDA for AXS-07 was issued a complete response letter (CRL) in April, seeking additional data.Following a decline in share price for the major part of 2021, the stock prices have stabilized amid promising progress with AXS-05 NDA. During the second quarter, Axsome received two positive regulatory updates from the FDA that led to positive investor sentiment.Positive UpdatesEarlier this week, Axsome received proposed labeling from the FDA for AXS-05 as a potential treatment for MDD. In April, the company received post-marketing requirements/commitments proposed by the FDA related to the NDA for AXS-05. The company has already agreed to the FDA’s proposal.The labeling proposal for AXS-05 from the FDA following the post-marketing requirements/commitments proposal indicates that the potential approval of the candidate may happen shortly. The company has been actively engaged in preparing for the commercial launch of AXS-05 targeting MDD patients in the past few months regardless of the extension of the review timeline of the NDA.Is a Recovery in Sight?A potential approval to AXS-05 will boost the prospects of Axsome as there is a significant opportunity for growth in the MDD patient population. The company stated that it has enough resources to fund its operations into 2024. Successful commercialization may boost the company’s top line significantly over the next two years.The company is also progressing well with the development of AXS-05 in additional indications. The candidate is in late-stage studies for treating agitation associated with AD. A potential approval following the successful completion of clinical studies will boost sales of AXS-05.The Zacks Consensus Estimate for total revenues in 2023 and 2024 stands at $195 million and $427 million, respectively.The revenue growth will also be driven by the sleep drug, Sunosi, acquired from Jazz Pharmaceuticals JAZZ in June. Jazz received approval for Sunosi in 2019 as a treatment for narcolepsy. The drug has shown strong sales growth since its launch, which is expected to continue over the next few years. The addition of a commercialized drug with robust demand bodes well for Axsome.Although a CRL was issued for AXS-07 NDA, Axsome believes that the FDA’s queries can be resolved. A potential approval to this candidate will bring additional revenues. The candidate targets an attractive patient population with a few effective treatments. However, the uncertainty related to the timeline for a re-submission of the NDA and subsequently a potential approval remains a concern.Other pipeline candidates also represent a growth opportunity for Axsome in the upcoming years.Based on these fundamental factors, Axsome reflects strong growth potential in the next couple of years. However, any developmental, regulatory or commercial setback will likely hamper growth prospects.Axsome Therapeutics, Inc. Price Axsome Therapeutics, Inc. price | Axsome Therapeutics, Inc. QuoteZacks Rank & Stocks to ConsiderAxsome currently carries a Zacks Rank #3 (Hold). A couple of better-ranked biotech stocks are Rani Therapeutics RANI and Sesen Bio SESN, both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Rani Therapeutics’ 2022 loss per share has narrowed from $1.52 to $1.40 in the past 60 days. Shares of RANI have declined 40.6% year to date.Earnings of Rani Therapeutics beat estimates in each of the last four quarters, the average being 51.76%.The Zacks Consensus Estimate for Sesen Bio’s 2022 loss has narrowed from 46 cents to 44 cents per share in the past 60 days. Shares of SESN have declined 2.3% in the year-to-date period.Earnings of Sesen Bio beat estimates in three of the last four quarters and missed the mark on one occasion, the average surprise being 69.94%. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Jazz Pharmaceuticals PLC (JAZZ): Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM): Free Stock Analysis Report SESEN BIO, INC. (SESN): Free Stock Analysis Report Rani Therapeutics Holdings, Inc. (RANI): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks2 hr. 13 min. ago

Salesforce.com (CRM) Down 3.1% Since Last Earnings Report: Can It Rebound?

Salesforce.com (CRM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. A month has gone by since the last earnings report for Salesforce.com (CRM). Shares have lost about 3.1% in that time frame, outperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Salesforce.com due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Salesforce Beats Q1 Earnings, Guidance RaiseSalesforce delivered better-than-expected first-quarter fiscal 2023 results. The company’s first-quarter non-GAAP earnings of 98 cents per share beat the Zacks Consensus Estimate of 93 cents. Quarterly earnings included a benefit of a penny per share from the mark-to-mark accounting of CRM’s strategic investments at a non-GAAP tax rate of 22%. However, non-GAAP earnings declined 19% from the year-ago quarter’s earnings of $1.21 per share.Salesforce’s quarterly revenues of $7.41 billion climbed 24% year over year, surpassing the Zacks Consensus Estimate of $7.37 billion. The top line also improved 26% in constant currency (cc).The company has been benefiting from the robust demand environment as customers are undergoing a major digital transformation. Thus, the rapid adoption of its cloud-based solutions resulted in the better-than-anticipated performance in the fiscal first quarter. Also, the recently acquired Slack business boosted revenues and contributed $348 million to total sales in the first quarter.Quarter in DetailComing to CRM’s business segments, revenues from Subscription and Support (93% of total revenues) increased 24% from the year-earlier period to $5.54 billion. Professional Services and Other (7% of total sales) revenues climbed 30% to $555 million.Under the Subscription and Support segment, Sales Cloud revenues grew 18% year over year to $1.6 billion. Revenues from Service Cloud, one of the company’s largest and the fastest-growing businesses, also improved 17% to $1.8 billion. Marketing & Commerce Cloud revenues jumped 22% to $1.1 billion. Salesforce Platform and Other revenues were up 55% to $1.4 billion. Also, revenues from Data increased 15% year over year to $1 billion.Geographically, Salesforce registered revenue growth at cc of 21% in America (67% of total revenues), 32% in the Asia Pacific (10%) and 39% in the EMEA (23%) on a year-over-year basis.Salesforce’s gross profit came in at $5.37 billion, up 22% from the prior-year period. However, the gross margin contracted 200 basis points (bps) to 72%.Salesforce recorded a non-GAAP operating income of $1.31 billion, up 8% year over year. However, the non-GAAP operating margin contracted 260 bps to 17.6% due to the lower gross margin and increased operating expenses. Operating expenses flared up 32% year over year to $5.35 billion.Salesforce exited the fiscal first quarter with cash, cash equivalents and marketable securities of $13.5 billion compared with the $10.5 billion recorded at the end of the previous quarter. CRM generated operating cash flow of $3.68 billion and free cash flow of $3.5 billion in the first quarter.As of Apr 30, 2022, the current remaining performance obligation reflecting revenues under contract for the next 12 months was $21.5 billion, up 21% on a year-over-year basis.Guidance UpdateBuoyed by the stronger-than-expected bottom line in the first quarter, Salesforce raised its profit forecast for full fiscal 2023.For fiscal 2023, the company increased its non-GAAP earnings guidance range to the $4.74-$4.76 per share range from the $4.62-$4.64 band projected earlier. It now anticipates the non-GAAP operating margin for the fiscal year of approximately 20.4% instead of around 20%. The company reiterated its year-over-year operating cash flow growth guidance of 21-22%.However, CRM lowered its revenue guidance range to the $31.7-$31.8 billion range from the $32-$32.1 billion band due to forex headwinds. The company forecast that the stronger U.S. dollar against other major currencies would have a $600-million negative impact on total revenues. The updated guidance includes expected revenues from the newly acquired Slack business of $1.5 billion.On its fourth-quarter fiscal 2022 earnings conference call, Salesforce anticipated that the Traction on Demand business acquisition would contribute approximately $75 million to its fiscal 2023 total revenues.For the fiscal second quarter, Salesforce projects total sales between $7.69 billion and $7.70 billion. The revenue guidance includes a $200-million negative impact of unfavorable currency exchange rates. Furthermore, CRM anticipates non-GAAP earnings per share in the band of $1.01-$1.02 for the current quarter.How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates review.The consensus estimate has shifted -19.66% due to these changes.VGM ScoresAt this time, Salesforce.com has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Salesforce.com has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Salesforce Inc. (CRM): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks2 hr. 13 min. ago

Auto Market Quite Resilient Right Now: Here"s Why

Cars still seem to be in demand. At least that is the feeling you get from commentary coming out of the major auto retailers. Amid the bad news in the Conference Board’s consumer confidence survey for June was one line that drew my attention: “Purchasing intentions for cars, homes, and major appliances held relatively steady.”Cars in particular still seem to be in demand. At least that is the feeling you get from commentary coming out of the major auto retailers. AutoNation AN, Group 1 Automotive GPI, Lithia Motors LAD and Penske Automotive Group PAG management have all said on their respective earnings conference calls that the greatest deterrent to higher new vehicle sales was the supply chain. In fact, all these auto dealers have no new vehicle inventory. In Penske’s case, vehicles are sold well before they enter the lot. Group 1 and Penske management explain that this is attributable to pent-up demand as new vehicle sales have been very low in the last couple of years. So companies are seeing their order backlogs build up, some going into 2023.Luckily for the auto retail industry, players are not limited to new vehicle sales. Most derive a larger percentage of their revenue from used vehicle sales. The used vehicle business depends on a couple of factors: first, the ability to acquire vehicles at reasonable prices and second, the ability to quickly refurbish and put back on sale. The visible trend among the top players is to acquire directly from end users. This could reduce the acquisition cost and time to acquisition by eliminating the middle man, often the fleet owners.AutoNation is optimistic about its ability to build used vehicle inventories because of an efficient sourcing system and its own refurbishing skills. Management says that 94% of its used vehicles are acquired directly from consumers.Similarly, Group 1’s strategy is to acquire used vehicles through its AcceleRide digital marketplace for vehicles. In the last quarter, it recorded a nearly 300% increase in vehicle sourcing through AcceleRide. Lithia Motors uses the same strategy, acquiring through its digital platform Driveway. And CarShop, the online platform formed as a result of an arrangement between Penske and Cox Automotive is doing pretty much the same thing. Lithia Motors also has a dedicated online platform for energy conscious customers. Its GreenCars marketplace as it is called tells interested customers how they could acquire EVs and related goods and services.Operating an online platform is also beneficial in other ways. Most people are used to researching online the item they are looking to buy. So this way, the dealers can pick up some advertising revenue while also hooking up their customers to the OEMs themselves. This could be an advantage in speeding up the booking process, especially when inventories are running so low.  Additionally, one of the biggest growth drivers for auto dealers in recent times has been the aftermarket. Even when sales disappoint, as they are likely to do when there’s inadequate inventory, or when people are trying to save money, the need to repair/refurbish or otherwise service whatever transportation they own becomes even more important. So, it is a kind of a hedge.Because of all these positives, AutoNation, Group 1, Lithia Motors and Penske Automotive continue to see rising estimates. And this is translating into Zacks #1 (Strong Buy) ratings on these shares.One-Month Price PerformanceImage Source: Zacks Investment Research Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Penske Automotive Group, Inc. (PAG): Free Stock Analysis Report AutoNation, Inc. (AN): Free Stock Analysis Report Group 1 Automotive, Inc. (GPI): Free Stock Analysis Report Lithia Motors, Inc. (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 13 min. ago

GoDaddy (GDDY) to Grow Portfolio Offerings Via Dan.com Buyout

GoDaddy (GDDY) inks a deal to take over Dan.com to provide advanced domain services to customers. GoDaddy Inc. GDDY is consistently working toward strengthening its domain offerings on the back of strategic acquisitions.This is evident from GDDY’s recent agreement to acquire Dan.com, a company catering to the needs of the domain industry.With the takeover of Dan.com, GDDY will incorporate the automation of the former and lease into its capabilities to provide advanced services to its customers.The acquisition is expected to be complete during the third quarter of this year.GoDaddy Inc. Price and Consensus GoDaddy Inc. price-consensus-chart | GoDaddy Inc. QuoteEfforts to Gain Domain Market ShareApart from the recent move, GDDY acquired DNAcademy in March to expand their features for providing a premium domain-buying experience to customers.Further, GoDaddy offers robust privacy and protection tools for eligible domains to protect customer information and prevent spams.These efforts are expected to continue helping GoDaddy expand its presence in the booming domain name registrar market.The underlined market is witnessing significant growth in recent times, thanks to the increasing efforts by companies in expanding their online market presence. Global brands tend to take premium domain names to strengthen their position and gain momentum among customers.Per a straits research report, the global domain name registrar market is likely to witness a CAGR of 5.18% between 2021 and 2027.The acquisition is anticipated to further aid GoDaddy in penetrating the global web hosting services market, which includes the domain register market.The global web hosting services market is expected to reach $267.1 billion in 2028, seeing a CAGR of 18.0% from 2021 to 2028, according to a Fortune Business Insights report.Portfolio StrengthThe takeover of Dan.com is likely to bode well with GoDaddy’s growing efforts toward increasing its portfolio of solutions.Apart from the latest step, in March, GDDY launched its Websites + Marketing Commerce Plus plan equipped with Avalara AvaTax, an automated sales tax solution for small businesses. The solution automates the e-commerce sales tax process and keeps a track of transaction thresholds without the need for manual intervention.In June, GoDaddy strengthened its free GoDaddy Studio app with the Link in Bio feature. The capability helps businesses and entrepreneurs promote their online store sites and social platforms.In February, GDDY released QR codes for on-the-go transactions to help small business owners with faster and seamless e-commerce and in-person payments.These growing initiatives are likely to continue helping GoDaddy attract more customers, thereby contributing to its top-line growth.This, in turn, is expected to help GDDY win the confidence of investors in the near and long term.Shares of GDDY have been down 17.1% in the year-to-date period, outperforming the Zacks Computer and Technology sector’s decline of 29.9%.Zacks Rank & Stocks to ConsiderCurrently, GoDaddy carries a Zacks Rank #3 (Hold). Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Aspen Technology AZPN, Agilent Technologies AVT and Analog Devices ADI. While Analog Devices sports a Zacks Rank #1 (Strong Buy), Aspen Technology and Agilent carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Analog Devices has lost 16.2% in the year-to-date period. The long-term earnings growth rate for ADI is currently projected at 5.7%.Aspen technology has returned 27.5% in the year-to-date period. The long-term earnings growth rate for AZPN is currently projected at 18.4%.Agilent has lost 26.1% in the year-to-date period. The long-term earnings growth rate for A is currently projected at 14.9%. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Analog Devices, Inc. (ADI): Free Stock Analysis Report Avnet, Inc. (AVT): Free Stock Analysis Report Aspen Technology, Inc. (AZPN): Free Stock Analysis Report GoDaddy Inc. (GDDY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 13 min. ago

These 46 pitch decks helped fintechs disrupting trading, investing, and banking raise millions in funding

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision.Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech.  Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech funding has been on a tear.In 2021, fintech funding hit a record $132 billion globally, according to CB Insights, more than double 2020's mark.Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. New twists on digital bankingZach Bruhnke, cofounder and CEO of HMBradleyHMBradleyConsumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series APersonal finance is only a text awayYinon Ravid, the chief executive and cofounder of Albert.AlbertThe COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalG 'A bank for immigrants'Priyank Singh and Rohit Mittal are the cofounders of Stilt.StiltRohit Mittal remembers the difficulties he faced when he first arrived in the United States a decade ago as a master's student at Columbia University.As an immigrant from India, Mittal had no credit score in the US and had difficulty integrating into the financial system. Mittal even struggled to get approved to rent an apartment and couch-surfed until he found a roommate willing to offer him space in his apartment in the New York neighborhood Morningside Heights.That roommate was Priyank Singh, who would go on to become Mittal's cofounder when the two started Stilt, a financial-technology company designed to address the problems Mittal faced when he arrived in the US.Stilt, which calls itself "a bank for immigrants," does not require a social security number or credit history to access its offerings, including unsecured personal loans.Instead of relying on traditional metrics like a credit score, Stilt uses data such as education and employment to predict an individual's future income stability and cash flow before issuing a loan. Stilt has seen its loan volume grow by 500% in the past 12 months, and the startup has loaned to immigrants from 160 countries since its launch. Here are the 15 slides Stilt, which calls itself 'a bank for immigrants,' used to raise a $14 million Series AAn IRA for alternativesHenry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar.Rocket DollarFintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionA trading app for activismAntoine Argouges, CEO and founder of TulipshareTulipshareAn up-and-coming fintech is taking aim at some of the world's largest corporations by empowering retail investors to push for social and environmental change by pooling their shareholder rights.London-based Tulipshare lets individuals in the UK invest as little as one pound in publicly-traded company stocks. The upstart combines individuals' shareholder rights with other like-minded investors to advocate for environmental, social, and corporate governance change at firms like JPMorgan, Apple, and Amazon.The goal is to achieve a higher number of shares to maximize the number of votes that can be submitted at shareholder meetings. Already a regulated broker-dealer in the UK, Tulipshare recently applied for registration as a broker-dealer in the US. "If you ask your friends and family if they've ever voted on shareholder resolutions, the answer will probably be close to zero," CEO and founder Antoine Argouges told Insider. "I started Tulipshare to utilize shareholder rights to bring about positive corporate change that has an impact on people's lives and our planet — what's more powerful than money to change the system we live in?"Check out the 14-page pitch deck from Tulipshare, a trading app that lets users pool their shareholder votes for activism campaignsDigital tools for independent financial advisorsJason Wenk, founder and CEO of AltruistAltruistJason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightRethinking debt collection Jason Saltzman, founder and CEO of ReliefReliefFor lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process.  Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundHelping small banks lendTKCollateralEdgeFor large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies — typically those with annual revenues ranging up to $1 billion — are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks — typically those with between $1 billion and $50 billion in assets — to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed roundA new way to assess creditworthinessPinwheel founders Curtis Lee, Kurt Lin, and Anish Basu.PinwheelGrowing up, Kurt Lin never saw his father get frustrated. A "traditional, stoic figure," Lin said his father immigrated to the United States in the 1970s. Becoming part of the financial system proved even more difficult than assimilating into a new culture.Lin recalled visiting bank after bank with his father as a child, watching as his father's applications for a mortgage were denied due to his lack of credit history. "That was the first time in my life I really saw him crack," Lin told Insider. "The system doesn't work for a lot of people — including my dad," he added. Lin would find a solution to his father's problem years later while working with Anish Basu, and Curtis Lee on an automated health savings account. The trio realized the payroll data integrations they were working on could be the basis of a product that would help lenders work with consumers without strong credit histories."That's when the lightbulb hit," said Lin, Pinwheel's CEO.In 2018, Lin, Basu, and Lee founded Pinwheel, an application-programming interface that shares payroll data to help both fintechs and traditional lenders serve consumers with limited or poor credit, who have historically struggled to access financial products. Here's the 9-page deck that Pinwheel, a fintech helping lenders tap into payroll data to serve consumers with little to no credit, used to raise a $50 million Series BAn alternative auto lenderTricolorAn alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investors A new way to access credit The TomoCredit teamTomoCreditKristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AHelping streamline how debts are repaidMethod Financial cofounders Jose Bethancourt and Marco del Carmen.Method FinancialWhen Jose Bethancourt graduated from the University of Texas at Austin in May 2019, he faced the same question that confronts over 43 million Americans: How would he repay his student loans?The problem led Bethancourt on a nearly two-year journey that culminated in the creation of a startup aimed at making it easier for consumers to more seamlessly pay off all kinds of debt.  Initially, Bethancourt and fellow UT grad Marco del Carmen built GradJoy, an app that helped users better understand how to manage student loan repayment and other financial habits. GradJoy was accepted into Y Combinator in the summer of 2019. But the duo quickly realized the real benefit to users would be helping them move money to make payments instead of simply offering recommendations."When we started GradJoy, we thought, 'Oh, we'll just give advice — we don't think people are comfortable with us touching their student loans,' and then we realized that people were saying, 'Hey, just move the money — if you think I should pay extra, then I'll pay extra.' So that's kind of the movement that we've seen, just, everybody's more comfortable with fintechs doing what's best for them," Bethancourt told Insider. Here is the 11-slide pitch deck Method Financial, a Y Combinator-backed fintech making debt repayment easier, used to raise $2.5 million in pre-seed fundingQuantum computing made easyQC Ware CEO Matt Johnson.QC WareEven though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant modelsKirat Singh and Mark Higgins, Beacon's cofounders.BeaconA fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOSussing out bad actorsFrom left to right: Cofounders CTO David Movshovitz, CEO Doron Hendler, and chief architect Adi DeGaniRevealSecurityAn encounter with an impersonation hacker led Doron Hendler to found RevealSecurity, a Tel Aviv-based cybersecurity startup that monitors for insider threats.Two years ago, a woman impersonating an insurance-agency representative called Hendler and convinced him that he made a mistake with his recent health insurance policy upgrade. She got him to share his login information for his insurer's website, even getting him to give the one-time passcode sent to his phone. Once the hacker got what she needed, she disconnected the call, prompting Hendler to call back. When no one picked up the phone, he realized he had been conned.He immediately called his insurance company to check on his account. Nothing seemed out of place to the representative. But Hendler, who was previously a vice president of a software company, suspected something intangible could have been collected, so he reset his credentials."The chief of information security, who was on the call, he asked me, 'So, how do you want me to identify you? You gave your credentials; you gave your ID; you gave the one time password. How the hell can I identify that it's not you?' And I told him, 'But I never behave like this,'" Hendler recalled of the conversation.RevealSecurity, a Tel Aviv-based cyber startup that tracks user behavior for abnormalities, used this 27-page deck to raise its Series AA new data feed for bond tradingMark Lennihan/APFor years, the only way investors could figure out the going price of a corporate bond was calling up a dealer on the phone. The rise of electronic trading has streamlined that process, but data can still be hard to come by sometimes. A startup founded by a former Goldman Sachs exec has big plans to change that. BondCliQ is a fintech that provides a data feed of pre-trade pricing quotes for the corporate bond market. Founded by Chris White, the creator of Goldman Sachs' defunct corporate-bond-trading system, BondCliQ strives to bring transparency to a market that has traditionally kept such data close to the vest. Banks, which typically serve as the dealers of corporate bonds, have historically kept pre-trade quotes hidden from other dealers to maintain a competitive advantage.But tech advancements and the rise of electronic marketplaces have shifted power dynamics into the hands of buy-side firms, like hedge funds and asset managers. The investors are now able to get a fuller picture of the market by aggregating price quotes directly from dealers or via vendors.Here's the 9-page pitch deck that BondCliQ, a fintech looking to bring more data and transparency to bond trading, used to raise its Series AFraud prevention for lenders and insurersFiordaliso/Getty ImagesOnboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews FakespotMarketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series AHelping fintechs manage dataProper Finance co-founders Travis Gibson (left) and Kyle MaloneyProper FinanceAs the flow of data becomes evermore crucial for fintechs, from the strappy startup to the established powerhouse, a thorny issue in the back office is becoming increasingly complex.Even though fintechs are known for their sleek front ends, the back end is often quite the opposite. Behind that streamlined interface can be a mosaic of different partner integrations — be it with banks, payments players and networks, or software vendors — with a channel of data running between them. Two people who know that better than the average are Kyle Maloney and Travis Gibson, two former employees of Marqeta, a fintech that provides other fintechs with payments processing and card issuance. "Take an established neobank for example. They'll likely have one or two card issuers, two to three bank partners, ACH processing for direct deposits and payouts, mobile check deposits, peer-to-peer payments, and lending," Gibson told Insider. Here's the 12-page pitch deck a startup helping fintechs manage their data used to score a $4.3 million seed from investors like Redpoint Ventures and Y CombinatorE-commerce focused business bankingMichael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo.Kristelle Boulos PhotographyBusiness banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series AShopify for embedded financeProductfy CEO and founder, Duy VoProductfyProductfy is looking to break into embedded finance by becoming the Shopify of back-end banking services.Embedded finance — integrating banking services in non-financial settings — has taken hold in the e-commerce world. But Productfy is going after a different kind of customer in churches, universities, and nonprofits.The San Jose, Calif.-based upstart aims to help non-finance companies offer their own banking products. Productfy can help customers launch finance features in as little as a week and without additional engineering resources or background knowledge of banking compliance or legal requirements, Productfy founder and CEO Duy Vo told Insider. "You don't need an engineer to stand up Shopify, right? You can be someone who's just creating art and you can use Shopify to build your own online store," Vo said, adding that Productfy is looking to take that user experience and replicate it for banking services.Here's the 15-page pitch deck Productfy, a fintech looking to be the Shopify of embedded finance, used to nab a $16 million Series ADeploying algorithms and automation to small-business financingJustin Straight and Bernard Worthy, LoanWell co-foundersLoanWellBernard Worthy and Justin Straight, the founders of LoanWell, want to break down barriers to financing for small and medium-size businesses — and they've got algorithms and automation in their tech arsenals that they hope will do it.Worthy, the company's CEO, and Straight, its chief operating and financial officer, are powering community-focused lenders to fill a gap in the SMB financing world by boosting access to loans under $100,000. And the upstart is known for catching the attention, and dollars, of mission-driven investors. LoanWell closed a $3 million seed financing round in December led by Impact America Fund with participation from SoftBank's SB Opportunity Fund and Collab Capital.LoanWell automates the financing process — from underwriting and origination, to money movement and servicing — which shaves down an up-to-90-day process to 30 days or even same-day with some LoanWell lenders, Worthy said. SMBs rely on these loans to process quickly after two years of financial uncertainty. But the pandemic illustrated how time-consuming and expensive SMB financing can be, highlighted by efforts like the federal government's Paycheck Protection Program.Community banks, once the lifeline to capital for many local businesses, continue to shutter. And demands for smaller loan amounts remain largely unmet. More than half of business-loan applicants sought $100,000 or less, according to 2018 data from the Federal Reserve. But the average small-business bank loan was closer to six times that amount, according to the latest data from a now discontinued Federal Reserve survey.Here's the 14-page pitch deck LoanWell used to raise $3 million from investors like SoftBank.Branded cards for SMBsJennifer Glaspie-Lundstrom is the cofounder and CEO of Tandym.TandymJennifer Glaspie-Lundstrom is no stranger to the private-label credit-card business. As a former Capital One exec, she worked in both the card giant's co-brand partnerships division and its tech organization during her seven years at the company.Now, Glaspie-Lundstrom is hoping to use that experience to innovate a sector that was initially created in malls decades ago.Glaspie-Lundstrom is the cofounder and CEO of Tandym, which offers private-label digital credit cards to merchants. Store and private-label credit cards aren't a new concept, but Tandym is targeting small- and medium-sized merchants with less than $1 billion in annual revenue. Glaspie-Lundstrom said that group often struggles to offer private-label credit due to the expense of working with legacy players."What you have is this example of a very valuable product type that merchants love and their customers love, but a huge, untapped market that has heretofore been unserved, and so that's what we're doing with Tandym," Glaspi-Lundstrom told Insider.A former Capital One exec used this deck to raise $60 million for a startup helping SMBs launch their own branded credit cardsCatering to 'micro businesses'Stefanie Sample is the founder and CEO of FundidFundidStartups aiming to simplify the often-complex world of corporate cards have boomed in recent years.Business-finance management startup Brex was last valued at $12.3 billion after raising $300 million last year. Startup card provider Ramp announced an $8.1 billion valuation in March after growing its revenue nearly 10x in 2021. Divvy, a small business card provider, was acquired by Bill.com in May 2021 for approximately $2.5 billion.But despite how hot the market has gotten, Stefanie Sample said she ended up working in the space by accident. Sample is the founder and CEO of Fundid, a new fintech that provides credit and lending products to small businesses.This May, Fundid announced a $3.25 million seed round led by Nevcaut Ventures. Additional investors include the Artemis Fund and Builders and Backers. The funding announcement capped off the company's first year: Sample introduced the Fundid concept in April 2021, launched its website in May, and began raising capital in August."I never meant to do Fundid," Sample told Insider. "I never meant to do something that was venture-backed."Read the 12-page deck used by Fundid, a fintech offering credit and lending tools for 'micro businesses'Embedded payments for SMBsThe Highnote teamHighnoteBranded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingSpeeding up loans for government contractors OppZo cofounders Warren Reed and Randy GarrettOppZoThe massive market for federal government contracts approached $700 billion in 2020, and it's likely to grow as spending accelerates amid an ongoing push for investment in the nation's infrastructure. Many of those dollars flow to small-and-medium sized businesses, even though larger corporations are awarded the bulk of contracts by volume. Of the roughly $680 billion in federal contracts awarded in 2020, roughly a quarter, according to federal guidelines, or some $146 billion that year, went to smaller businesses.But peeking under the hood of the procurement process, the cofounders of OppZo — Randy Garrett and Warren Reed — saw an opportunity to streamline how smaller-sized businesses can leverage those contracts to tap in to capital.  Securing a deal is "a government contractor's best day and their worst day," as Garrett, OppZo's president, likes to put it."At that point they need to pay vendors and hire folks to start the contract. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO,  told Insider. Check out the 12-page pitch deck OppZo, a fintech that has figured out how to speed up loans to small government contractors, used to raise $260 million in equity and debtHelping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping.ComplYantAfter 14 years in tax accounting, Shiloh Johnson had formed a core philosophy around corporate accounting: everyone deserves to understand their business's money and business owners need to be present in their bookkeeping process.She wanted to help small businesses understand "this is why you need to do what you're doing and why you have to change the way you think about tax and be present in your bookkeeping process," she told Insider. The Los Angeles native wanted small businesses to not only understand business tax no matter their size but also to find the tools they needed to prepare their taxes in one spot. So Johnson developed a software platform that provides just that.The 13-page pitch deck ComplYant used to nab $4 million that details the tax startup's plan to be Turbotax, Quickbooks, and Xero rolled into one for small business ownersAutomating accounting ops for SMBsDecimal CEO Matt Tait.DecimalSmall- and medium-sized businesses can rely on any number of payroll, expense management, bill pay, and corporate-card startups promising to automate parts of their financial workflow. Smaller firms have adopted this corporate-financial software en masse, boosting growth throughout the pandemic for relatively new entrants like Ramp and massive, industry stalwarts like Intuit. But it's no easy task to connect all of those tools into one, seamless process. And while accounting operations might be far from where many startup founders want to focus their time, having efficient back-end finances does mean time — and capital — freed up to spend elsewhere. For Decimal CEO Matt Tait, there's ample opportunity in "the boring stuff you have to do to survive as a company," he told Insider. Launched in 2020, Decimal provides a back-end tech layer that small- and medium-sized businesses can use to integrate their accounting and business-management software tools in one place.On Wednesday, Decimal announced a $9 million seed fundraising round led by Minneapolis-based Arthur Ventures, alongside Service Providers Capital and other angel investors. See the 13-page pitch deck for Decimal, a startup automating accounting ops for small businessesInvoice financing for SMBsStacey Abrams and Lara Hodgson, Now co-foundersNowAbout a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain — but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system.  "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionCheckout made easyRyan Breslow.Ryan BreslowAmazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers — currently over 5.6 million — that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DPayments infrastructure for fintechsQolo CEO and co-founder Patricia MontesiQoloThree years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders — who together had more than a century of combined industry experience — to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ABetter use of payroll dataAtomic's Head of Markets, Lindsay DavisAtomicEmployees at companies large and small know the importance — and limitations — of how firms manage their payrolls. A new crop of startups are building the API pipes that connect companies and their employees to offer a greater level of visibility and flexibility when it comes to payroll data and employee verification. On Thursday, one of those names, Atomic, announced a $40 million Series B fundraising round co-led by Mercato Partners and Greylock, alongside Core Innovation Capital, Portage, and ATX Capital. The round follows Atomic's Series A round announced in October, when the startup raised a $22 million Series A from investors including Core Innovation Capital, Portage, and Greylock.Payroll startup Atomic just raised a $40 million Series B. Here's an internal deck detailing the fintech's approach to the red-hot payments space.Saving on vendor invoicesHoward Katzenberg, Glean's CEO and cofounderGleanWhen it comes to high-flying tech startups, headlines and investors typically tend to focus on industry "disruption" and the total addressable market a company is hoping to reach. Expense cutting as a way to boost growth typically isn't part of the conversation early on, and finance teams are viewed as cost centers relative to sales teams. But one fast-growing area of business payments has turned its focus to managing those costs. Startups like Ramp and established names like Bill.com have made their name offering automated expense-management systems. Now, one new fintech competitor, Glean, is looking to take that further by offering both automated payment services and tailored line-item accounts-payable insights driven by machine-learning models. Glean's CFO and founder, Howard Katzenberg, told Insider that the genesis of Glean was driven by his own personal experience managing the finance teams of startups, including mortgage lender Better.com, which Katzenberg left in 2019, and online small-business lender OnDeck. "As a CFO of high-growth companies, I spent a lot of time focused on revenue and I had amazing dashboards in real time where I could see what is going on top of the funnel, what's going on with conversion rates, what's going on in terms of pricing and attrition," Katzenberg told Insider. See the 15-slide pitch deck Glean, a startup using machine learning to find savings in vendor invoices, used to raise $10.8 million in seed fundingReal-estate management made easyAgora founders Noam Kahan, CTO, Bar Mor, CEO, and Lior Dolinski, CPOAgoraFor alternative asset managers of any type, the operations underpinning sales and investor communications are a crucial but often overlooked part of the business. Fund managers love to make bets on markets, not coordinate hundreds of wire transfers to clients each quarter or organize customer-relationship-management databases.Within the $10.6 trillion global market for professionally managed real-estate investing, that's where Tel Aviv and New York-based startup Agora hopes to make its mark.Founded in 2019, Agora offers a set of back-office, investor relations, and sales software tools that real-estate investment managers can plug into their workflows. On Wednesday, Agora announced a $9 million seed round, led by Israel-based venture firm Aleph, with participation from River Park Ventures and Maccabee Ventures. The funding comes on the heels of an October 2020 pre-seed fund raise worth $890,000, in which Maccabee also participated.Here's the 15-slide pitch deck that Agora, a startup helping real-estate investors manage communications and sales with their clients, used to raise a $9 million seed roundAccess to commercial real-estate investing LEX Markets cofounders and co-CEOs Drew Sterrett and Jesse Daugherty.LEX MarketsDrew Sterrett was structuring real-estate deals while working in private equity when he realized the inefficiencies that existed in the market. Only high-net worth individuals or accredited investors could participate in commercial real-estate deals. If they ever wanted to leave a partnership or sell their stake in a property, it was difficult to find another investor to replace them. Owners also struggled to sell minority stakes in their properties and didn't have many good options to recapitalize an asset if necessary.In short, the market had a high barrier to entry despite the fact it didn't always have enough participants to get deals done quickly. "Most investors don't have access to high-quality commercial real-estate investments. How do we have the oldest and largest asset class in the world and one of the largest wealth creators with no public and liquid market?" Sterrett told Insider. "It sort of seems like a no-brainer, and that this should have existed 50 or 60 years ago."This 15-page pitch deck helped LEX Markets, a startup making investing in commercial real estate more accessible, raise $15 millionInsurance goes digitalJamie Hale, CEO and cofounder of LadderLadderFintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionData science for commercial insuranceTanner Hackett, founder and CEO of CounterpartCounterpartThere's been no shortage of funds flowing into insurance-technology companies over the past few years. Private-market funding to insurtechs soared to $15.4 billion in 2021, a 90% increase compared to 2020. Some of the most well-known consumer insurtech names — from Oscar (which focuses on health insurance) to Metromile (which focuses on auto) — launched on the public markets last year, only to fall over time or be acquired as investors questioned the sustainability of their business models. In the commercial arena, however, the head of one insurtech company thinks there is still room to grow — especially for those catering to small businesses operating in an entirely new, pandemic-defined environment. "The bigger opportunity is in commercial lines," Tanner Hackett, the CEO of management liability insurer Counterpart, told Insider."Everywhere I poke, I'm like, 'Oh my goodness, we're still in 1.0, and all the other businesses I've built were on version three.' Insurance is still in 1.0, still managing from spreadsheets and PDFs," added Hackett, who also previously co-founded Button, which focuses on mobile marketing. See the 8-page pitch deck Counterpart, a startup disrupting commercial insurance with data science, used to raise a $30 million Series BSmarter insurance for multifamily propertiesItai Ben-Zaken, cofounder and CEO of Honeycomb.HoneycombA veteran of the online-insurance world is looking to revolutionize the way the industry prices risk for commercial properties with the help of artificial intelligence.Insurance companies typically send inspectors to properties before issuing policies to better understand how the building is maintained and identify potential risks or issues with it. It's a process that can be time-consuming, expensive, and inefficient, making it hard to justify for smaller commercial properties, like apartment and condo buildings.Insurtech Honeycomb is looking to fix that by using AI to analyze a combination of third-party data and photos submitted by customers through the startup's app to quickly identify any potential risks at a property and more accurately price policies."That whole physical inspection thing had really good things in it, but it wasn't really something that is scalable and, it's also expensive," Itai Ben-Zaken, Honeycomb's cofounder and CEO, told Insider. "The best way to see a property right now is Google street view. Google street view is usually two years old."Here's the 10-page Series A pitch deck used by Honeycomb, a startup that wants to revolutionize the $26 billion market for multifamily property insuranceHelping freelancers with their taxesJaideep Singh is the CEO and co-founder of FlyFin, an AI-driven tax preparation software program for freelancers.FlyFinSome people, particularly those with families or freelancing businesses, spend days searching for receipts for tax season, making tax preparation a time consuming and, at times, taxing experience. That's why in 2020 Jaideep Singh founded FlyFin, an artificial-intelligence tax preparation program for freelancers that helps people, as he puts it, "fly through their finances." FlyFin is set up to connect to a person's bank accounts, allowing the AI program to help users monitor for certain expenses that can be claimed on their taxes like business expenditures, the interest on mortgages, property taxes, or whatever else that might apply. "For most individuals, people have expenses distributed over multiple financial institutions. So we built an AI platform that is able to look at expenses, understand the individual, understand your profession, understand the freelance population at large, and start the categorization," Singh told Insider.Check out the 7-page pitch deck a startup helping freelancers manage their taxes used to nab $8 million in fundingDigital banking for freelancersJGalione/Getty ImagesLance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysSoftware for managing freelancersWorksome cofounder and CEO Morten Petersen.WorksomeThe way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon.HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalPay-as-you-go compliance for banks, fintechs, and crypto startupsNeepa Patel, Themis' founder and CEOThemisWhen Themis founder and CEO Neepa Patel set out to build a new compliance tool for banks, fintech startups, and crypto companies, she tapped into her own experience managing risk at some of the nation's biggest financial firms. Having worked as a bank regulator at the Office of the Comptroller of the Currency and in compliance at Morgan Stanley, Deutsche Bank, and the enterprise blockchain company R3, Patel was well-placed to assess the shortcomings in financial compliance software. But Patel, who left the corporate world to begin work on Themis in 2020, drew on more than just her own experience and frustrations to build the startup."It's not just me building a tool based on my personal pain points. I reached out to regulators. I reached out to bank compliance officers and members in the fintech community just to make sure that we're building it exactly how they do their work," Patel told Insider. "That was the biggest problem: No one built a tool that was reflective of how people do their work."Check out the 9-page pitch deck Themis, which offers pay-as-you-go compliance for banks, fintechs, and crypto startups, used to raise $9 million in seed fundingConnecting startups and investorsHum Capital cofounder and CEO Blair SilverbergHum CapitalBlair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Helping LatAm startups get up to speedKamino cofounders Gut Fragoso, Rodrigo Perenha, Benjamin Gleason, and Gonzalo ParejoKaminoThere's more venture capital flowing into Latin America than ever before, but getting the funds in founders' hands is not exactly a simple process.In 2021, investors funneled $15.3 billion into Latin American companies, more than tripling the previous record of $4.9 billion in 2019. Fintech and e-commerce sectors drove funding, accounting for 39% and 25% of total funding, respectively.  However, for many startup founders in the region who have successfully sold their ideas and gotten investors on board, there's a patchwork of corporate structuring that's needed to access the funds, according to Benjamin Gleason, who was the chief financial officer at Groupon LatAm prior to cofounding Brazil-based fintech Kamino.It's a process Gleason and his three fellow Kamino cofounders have been through before as entrepreneurs and startup execs themselves. Most often, startups have to set up offshore financial accounts outside of Brazil, which "entails creating a Cayman [Islands] holding company, a Delaware LLC, and then connecting it to a local entity here and also opening US bank accounts for the Cayman entity, which is not trivial from a KYC perspective," said Gleason, who founded open-banking fintech Guiabolso in Sao Paulo. His partner, Gonzalo Parejo, experienced the same toils when he founded insurtech Bidu."Pretty much any international investor will usually ask for that," Gleason said, adding that investors typically cite liability issues."It's just a massive amount of bureaucracy, complexity, a lot of time from the founders. All of this just to get the money from the investor that wants to give them the money," he added.Here's the 8-page pitch deck Kamino, a fintech helping LatAm startups with everything from financing to corporate credit cards, used to raise a $6.1M pre-seed roundThe back-end tech for beautyDanielle Cohen-Shohet, CEO and founder of GlossGeniusGlossGeniusDanielle Cohen-Shohet might have started as a Goldman Sachs investment analyst, but at her core she was always a coder.After about three years at Goldman Sachs, Cohen-Shohet left the world of traditional finance to code her way into starting her own company in 2016. "There was a period of time where I did nothing, but eat, sleep, and code for a few weeks," Cohen-Shohet told Insider. Her technical edge and knowledge of the point-of-sale payment space led her to launch a software company focused on providing behind-the-scenes tech for beauty and wellness small businesses.Cohen-Shohet launched GlossGenius in 2017 to provide payments tech for hair stylists, nail technicians, blow-out bars, and other small businesses in the space.Here's the 11-page deck GlossGenius, a startup that provides back-end tech for the beauty industry, used to raise $16 millionRead the original article on Business Insider.....»»

Category: topSource: businessinsider4 hr. 57 min. ago

Pinterest Improving User Experience To Help People ‘Take More Action’ On Boards, New CEO Bill Ready Says

Following is the unofficial transcript of a CNBC exclusive interview with Pinterest Inc (NYSE:PINS) Co-Founder & Executive Chairman Ben Silbermann and Pinterest CEO Bill Ready on CNBC’s “Mad Money” (M-F, 6PM-7PM ET) today, Wednesday, June 29th. Following is a link to video on CNBC.com: Pinterest Improving User Experience To Help People ‘Take More Action’ On […] Following is the unofficial transcript of a CNBC exclusive interview with Pinterest Inc (NYSE:PINS) Co-Founder & Executive Chairman Ben Silbermann and Pinterest CEO Bill Ready on CNBC’s “Mad Money” (M-F, 6PM-7PM ET) today, Wednesday, June 29th. Following is a link to video on CNBC.com: Pinterest Improving User Experience To Help People ‘Take More Action’ On Boards, New CEO Bill Ready Says JIM CRAMER: Crushed with all things growth. But yesterday, Pinterest announced something big. Their Chairman and CEO is stepping back to become Executive Chairperson, while bringing in a new CEO, a financial tech veteran Bill Ready. Hey, by the way, this guy is coming from Google and he was in charge of commerce and payments. Wow. Now I think this makes a lot of sense. Right now, Pinterest makes the bulk of its money from digital advertising. They want to pivot to become something more of a shopping platform because this is a site where people go to find stuff that they might want to buy. This is a difficult market doing something like Pinterest, but I’m liking this pivot. So let’s take a closer look with Ben Silbermann. He’s the co-Founder, Executive Chairman of Pinterest, whom we met at his office too long ago. And Bill Ready, he’s the new CEO. Gentlemen, welcome to “Mad Money.” if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more BEN SILBERMANN: Thanks for having us, Jim. BILL READY: Thank you, Jim. CRAMER: Okay, so I got to ask you Ben. I knew you love your job. And when I saw it, it was so much fun. And it was just pure joy to go to your offices. You're making just huge sales, 2.5 billion. Now it's gonna be nearly 3 billion, it's profitable. Is this really the time to leave as CEO? SILBERMANN: Well first, Jim, thanks again for having us. Look, I love Pinterest. I've love, I've loved running it. And I'm really excited today about having Bill step in as our new CEO. I think that he's got a ton of qualifications that are really going to help us accelerate the momentum we already have and go, as you said, from a place where people get inspired to a place where they can get inspired and take action and buy the things. So I'm really excited about it and I'm excited to stay involved in a new role as Executive Chair. CRAMER: Well, I'll tell you it's funny. I know about Pinterest from my kids, from my wife. I mean everybody knows it, that's what you do. So I'm gonna tell you Bill and put you on the spot here. I was told, I was going, texting with my daughter today who went to Parsons. She's a baker, okay. I said, “What do you think of Pinterest?” She said, “Oh, you know, I love my mood boards, whether it be for decorating my house or planning my wedding, planning a wedding or finding inspiration for next year.” So I said, “Have you ever bought anything on Pinterest?” And she says, “Hell no.” I mean, almost as if, don't you realize Dad you don't buy things on Pinterest? Yet all those categories are fantastic categories to press a button and buy something, can that change? READY: Yes. Thank you, Jim. It is a great question. And I think Pinterest is a really uniquely positioned platform and I think it's uniquely positioned because it has tremendous inspiration and discovery on the platform as you were just mentioning and across a number of different categories, but also has high intent. So people are there for a purpose. They're not discovering these things on accident while they're doing something else. They're actually there for that purpose. So it’s both an inspiration discovery and intent. And as Ben was just describing, there's a lot we can do to help them take more action on that intent whether that action is making or doing or in some cases buying. And there's a variety of ways that we can do that. That may not necessarily entail even a buy button all the time, but how do you get more closely connected to a place where you can take action? And so I think there's tremendous potential to help people do more on the platform and do it in a positive engaging way that again, I think, is quite unique for for Pinterest as a platform. CRAMER: Well, Bill, let me just follow up on that. Would a mood board be cheapened in any way by something that people would buy? I mean, that people I know now because I've researched this mood board concept, they kind of liked the fact that it's not for buying so to speak. READY: Well, I think it's a great point that, you know, it's a, it's a forum that people love engaging with and I think the thing that we have to make sure we do is make sure that we make it easy for people to take action when and how they want to take action. And I think that is something that, you know, Ben and I've talked about this a lot. I think he's heard it from Pinterest users for years that they want to be able to take action on these things. I've used Pinterest for designing a home, for planning birthday parties, and these are all things where you get great ideas and you don't want necessarily sort of buying to be shoved in your face, but when you see something that you want to take action on, you want to be able to go get to the way that you're going to do that. And I think again, that's a unique thing that Pinterest has is both the inspiration, the discovery and the intent in one platform and we got to mix in more ability to take action. CRAMER: I totally agree now Ben, let me ask you just in terms of philosophically, I regard you as a total inspiration. I mean you came from Nebraska you come out well, you do this thing, everybody loves it. You had at one point 478 million people and now you have 431 million people, only on Wall Street would a decline from 478 to 431 million be regarded as something suboptimal. 430 million is just a huge congratulations Ben. But I've got to ask you, is Wall Street, did Wall Street make your job tiresome? SILBERMANN: Well Jim I mean, we care a lot about all of our investors and so it's one key stakeholder. But the thing I wake up doing every day, the thing that Bill and I talked a lot about when we talked about taking this role is how do we just make an amazing experience for consumers? And I'm really excited, you know, the company's got great pipeline of new products that are coming out from our investors and creators to some of the shopping things that Bill talked about. We just acquired THE YES, which is a fantastic startup, which will speed things up. And also I think that we're in a really good position. You know, we more than doubled revenue since the beginning of the pandemic. Last year, we were profitable. And so I'm excited to take those resources and invest them to an even better product. And I think that'll make everyone, starting with the users but including the investors, really excited over time. CRAMER: But let me ask you though, in your last letter, you know, I love your letters. You wrote in Q1 of 2022, we didn't experience year over year engagement declines, primarily due to pandemic influence growth the year ago quarter. Everybody gets that. But then, as well as lower search traffic largely driven by Google's algorithm change in November 2021, you are sitting with the person who may have been involved with that algorithm change. How have you guys hashed that out together? SILBERMANN: Well, you know, we haven't been talking a lot about his last job. We've been talking a lot about his current job and what we’re doing going forward. And I just want to tell you, I couldn't be more excited to welcome Bill and bring bring some of that experience and also, you know, some experience running global technology companies, driving innovation on behalf of customers at a really big scale so— READY: And Jim, as you mentioned, I've had the privilege to have built and grown a number of great platforms. And when I look at Pinterest, I see something that I think is quite special and quite unique. You've got users coming to the platform for daily inspiration, looking for those things that they might not be finding other places and take shopping as an example, I think for the last 20 plus years of ecommerce, ecommerce is solving for a lot, a lot more for buying than for shopping. And so we think about how people have shopped in the real world, you know, forever and ever, a huge part of that was inspiration and discovery and there was a joyfulness to it and a delight to it that I don't think has been solved for the digital world. And I think Pinterest has a great opportunity to bring that part of the equation that users are already coming to Pinterest for today and marry that up with more ability to take action and I think again that's something that users have organic demand for that from the Pinterest platform. And as we bring in more and more of that, I think it's always going to really resonate with with Pinterest users. CRAMER: Let me ask, on my last question. I know that PayPal was interested, of course Bill worked with PayPal. I know that Microsoft was interested in those discussions never really went anywhere and I have to presume won't now that you're having that transition to Executive Chairman. Fair discussion, fair point. READY: Yeah, so I'll take that one, which is, you know, I'm coming to Pinterest because I think it has a great, a great potential for a long-term enduring company. And, you know, there's gonna be lots of opportunities for how we can build the company. I think looking at the organic innovation inside the company, the way the company is leveraging, you know, not only build but buy and partner as well. You know, buying THE YES recently, partnering with Shopify and WooCommerce. So there's a number of dimensions for how to grow the business. But I'm coming here because I think it has great prospects as a long-term enduring company and solving for something that is unique and isn't fully solved for elsewhere and again, I’m voting with my feet to that I think it's a fantastic place to be. CRAMER: Excellent. Well look, I wish both of you luck. I love your company very, very much. You've always been great to “Mad Money.” I hope you feel that we've been fair to you. I want to I want to thank Ben Silbermann who just a hero of mine as I told you the day I met you and Bill Ready who is the new CEO of Pinterest. And remember Ben's not going anywhere. He's still gonna be Executive Chairman so we tend to see him again. “Mad Money” is back after the break. Thank you gentlemen. Updated on Jun 30, 2022, 12:05 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk6 hr. 57 min. ago

Sale Puts Ben & Jerry’s Ice Cream Back in West Bank, Kind Of

The company said it does not agree with the decision by its parent Unilever A new agreement in Israel will put Ben & Jerry’s ice cream back on shelves in annexed east Jerusalem and the occupied West Bank despite the ice cream maker’s protest of Israeli policies, according to Unilever, the company that owns the brand. The Vermont company, which has long backed liberal causes, said it does not agree with the decision, and it’s unclear if the product—which would only be sold with Hebrew and Arabic labeling—would have the same appeal to customers. We are aware of the Unilever announcement. While our parent company has taken this decision, we do not agree with it. (🧵1/3) — Ben & Jerry's (@benandjerrys) June 29, 2022 Israel hailed the move as a victory in its ongoing campaign against the Palestinian-led Boycott, Divestment and Sanctions movement. BDS aims to bring economic pressure to bear on Israel over its military occupation of lands the Palestinians want for a future state. [time-brightcove not-tgx=”true”] Unilever, which acquired Ben & Jerry’s in 2000 but distanced itself from the ice cream maker’s decision last year to halt sales in the territories, said Wednesday that it had sold its business interest in Israel to a local company that would sell Ben & Jerry’s ice cream under its Hebrew and Arabic name throughout Israel and the West Bank. When Ben & Jerry’s was sold, the companies agreed that the ice cream maker’s independent board would be free to pursue its social mission, including longstanding support for liberal causes, including racial justice, climate action, LGBTQ rights and campaign finance reform. But Unilever would have the final word on financial and operational decisions. Unilever said it has “used the opportunity of the past year to listen to perspectives on this complex and sensitive matter and believes this is the best outcome for Ben & Jerry’s in Israel.” In its statement, Unilever reiterated that it does not support the BDS movement. It said it was “very proud” of its business in Israel, where it employs around 2,000 people and has four manufacturing plants. Unilever sold the business to Avi Zinger, the owner of Israel-based American Quality Products Ltd, who had sued Unilever and Ben & Jerry’s in March in a U.S. federal court over the termination of their business relationship, saying it violated U.S. and Israeli law. Zinger’s legal team said the decision by Unilever was part of a settlement. He thanked Unilever for resolving the matter and for the “strong and principled stand” it has taken against BDS. “There is no place for discrimination in the commercial sale of ice cream,” Zinger said. Ben & Jerry’s said that its parent company had taken the decision. “We do not agree with it,” the ice cream maker said on its Twitter account, adding that it would no longer profit from sales of its products in Israel. “We continue to believe it is inconsistent with Ben & Jerry’s values for our ice cream to be sold in the Occupied Palestinian Territory,” it added. Omar Shakir, the director of Human Rights Watch for Israel and the Palestinian territories, said Unilever sought to undermine Ben & Jerry’s “principled decision” to avoid complicity in Israel’s violations of Palestinian rights, which his organization says amount to apartheid, an allegation Israel adamantly rejects. “It won’t succeed: Ben & Jerry’s won’t be doing business in illegal settlements. What comes next may look and taste similar, but, without Ben & Jerry’s recognized social justice values, it’s just a pint of ice cream.” Israel hailed the decision and thanked governors and other elected officials in the United States and elsewhere for supporting its campaign against BDS. It said Unilever consulted its Foreign Ministry throughout the process. “Antisemitism will not defeat us, not even when it comes to ice-cream,” Foreign Minister Yair Lapid said. “We will fight delegitimization and the BDS campaign in every arena, whether in the public square, in the economic sphere or in the moral realm.” BDS, an umbrella group supported by virtually all of Palestinian civil society, presents itself as a non-violent protest movement modeled on the boycott campaign against apartheid South Africa. It does not adopt an official position on how the Israeli-Palestinian conflict should be resolved, and it officially rejects antisemitism. Israel views BDS as an assault on its very legitimacy, in part because of extreme views held by some of its supporters. Israel also points to the group’s support for a right of return for millions of Palestinian refugees — which would spell the end of Israel as a Jewish-majority state — and BDS leaders’ refusal to endorse a two-state solution to the conflict. Ben & Jerry’s decision was not a full boycott, and appeared to be aimed at Israel’s settlement enterprise. Some 700,000 Jewish settlers live in the occupied West Bank and east Jerusalem, which Israel annexed and considers part of its capital. Israel captured both territories in the 1967 Mideast war, and the Palestinians want them to be part of their future state. Most of the international community views the settlements as a violation of international law. The Palestinians consider them the main obstacle to peace because they absorb and divide up the land on which a future Palestinian state would be established. Every Israeli government has expanded settlements, including during the height of the peace process in the 1990s......»»

Category: topSource: time11 hr. 41 min. ago

Acuity Brands Reports Fiscal 2022 Third-Quarter Results

Increased Net Sales 18% Over the Prior Year Increased Diluted EPS 30% Over the Prior Year Deployed $296 million to Share Repurchases ATLANTA, June 30, 2022 (GLOBE NEWSWIRE) -- Acuity Brands, Inc. (NYSE:AYI) (the "Company"), a market-leading industrial technology company, announced net sales of $1.1 billion in the third quarter of fiscal 2022 ended May 31, 2022, an increase of 17.9 percent or $160.9 million, compared to the same period in fiscal 2021. Diluted earnings per share ("EPS") was $3.07 in the third quarter of fiscal 2022, an increase of 29.5 percent, or $0.70, compared to the same period in fiscal 2021. "I am proud of our teams' continued strong performance through the third quarter of fiscal 2022," stated Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. "We are executing consistently as a result of significant and ongoing improvements in our business, and we continue to generate value for shareholders through share repurchases." Gross profit was $445.1 million in the third quarter of fiscal 2022, an increase of $58.5 million, or 15.1 percent, compared to the same period in fiscal 2021. The increase in gross profit was driven by higher sales and cost controls. Gross profit as a percent of net sales was 42.0 percent in the third quarter of fiscal 2022. Operating profit was $142.7 million in the third quarter of fiscal 2022, an increase of $24.6 million, or 20.8 percent, compared to the same period in fiscal 2021. The increase in operating profit was a direct result of the improvement in gross profit, partially offset by higher operating expenses. Operating profit as a percent of net sales was 13.5 percent in the third quarter of fiscal 2022, an increase of 40 basis points from 13.1 percent in the same period of fiscal 2021. Adjusted operating profit was $162.8 in the third quarter of fiscal 2022, an increase of $26.0 million, or 19.0 percent, compared to the same period in fiscal 2021. Adjusted operating profit as a percent of net sales was 15.3 percent in the third quarter of fiscal 2022, an increase of 10 basis points from 15.2 percent in the same period of fiscal 2021. Net income was $105.7 million in the third quarter of fiscal 2022, an increase of $20.0 million, or 23.3 percent, compared to the same period in fiscal 2021. Diluted earnings per share was $3.07 in the third quarter of fiscal 2022, an increase of $0.70, or 29.5 percent, from $2.37 in the same period of fiscal 2021. Adjusted net income was $121.3 in the third quarter of fiscal 2022, an increase of $20.9 million, or 20.8 percent, compared to the same period in fiscal 2021. Adjusted diluted earnings per share was $3.52 in the third quarter of fiscal 2022, an increase of $0.75, or 27.1 percent, from $2.77 in the same period of fiscal 2021. Segment Performance Acuity Brands Lighting and Lighting Controls ("ABL") ABL generated net sales of $1.0 billion in the third quarter of fiscal 2022, an increase of $158.4 million, or 18.6 percent, compared to the same period in fiscal 2021. The acquisition of the Osram DS business contributed approximately 3 percent to ABL net sales in the third fiscal quarter of 2022. The Independent Sales Network generated sales of $725.9 million, an increase of $97.9 million, or 15.6 percent, compared to the same period in fiscal 2021. The Direct Sales Network generated sales of $96.1 million, approximately flat compared to the same period in fiscal 2021. The Corporate Accounts channel generated sales of $59.1 million, an increase of $15.1 million, or 34.3 percent, compared to the same period in fiscal 2021. The Retail channel generated sales of $44.7 million, an increase of $8.6 million, or 23.8 percent, compared to the same period in fiscal 2021. ABL operating profit was $149.6 million in the third quarter of fiscal 2022, an increase of $23.1 million, or 18.3 percent, compared to the same period in fiscal 2021. ABL Operating profit as a percent of ABL net sales was 14.8 percent in the third quarter of fiscal 2022, a decrease of 10 basis points from 14.9 percent in the same quarter of fiscal 2021. ABL adjusted operating profit was $159.8 million in the third quarter of fiscal 2022, an increase of $24.0 million, or 17.7 percent, compared to the same period in fiscal 2021. ABL Adjusted operating profit as a percent of ABL net sales was 15.8 percent in the third quarter of fiscal 2022, a decrease of 20 basis points from 16.0 percent, in the same quarter of fiscal 2021. Intelligent Spaces Group ("ISG") ISG generated net sales of $58.3 million in the third quarter of fiscal 2022, an increase of $2.9 million, or 5.2 percent, compared to the same period in fiscal 2021. ISG operating profit was $9.2 million in the third quarter of fiscal 2022, an increase of $2.0 million, or 27.8 percent, compared to the same quarter of fiscal 2021. ISG Operating profit as a percent of ISG net sales was 15.8 percent in the third quarter of fiscal 2022, an increase of 280 basis points from 13.0 percent in the third quarter of fiscal 2021. ISG adjusted operating profit was $13.6 million for the third quarter of fiscal 2022, an increase of $2.5 million, or 22.5 percent, over the prior year. ISG Adjusted operating profit as a percent of ISG net sales was 23.3 percent for the third quarter of fiscal 2022, an increase of 330 basis points from 20.0 percent, in the third quarter of fiscal 2021. Cash Flow and Capital Allocation Net cash from operating activities was $165.7 million, a decrease of $150.5 million, or 47.6 percent, in the first nine months of fiscal 2022, compared to the same period in fiscal 2021, as we allocated capital to inventory in order support our growth. During the first nine months of fiscal 2022, the Company repurchased 2.3 million shares of common stock for a total of $405 million. Post Quarter Events The Company today announced the completion of a new $600 million revolving credit facility. The new five-year facility incorporates $200 million of additional borrowing capacity and improved pricing as compared to the prior revolving credit facility. Additional information will be available in our third quarter 10-Q filing. Today's Call Details The Company is planning to host a conference call at 8:00 a.m. (ET) today, Thursday, June 30, 2022. Neil Ashe, Chairman, President and Chief Executive Officer of Acuity Brands, Inc. will lead the call. The conference call and earnings release can be accessed via the Investor Relations section of the Company's website at www.investors.acuitybrands.com. A replay of the call will also be posted to the Investor Relations site within two hours of the completion of the conference call and will be available on the site for a limited time. About Acuity Brands Acuity Brands, Inc. (NYSE:AYI) is a market-leading industrial technology company. We use technology to solve problems in spaces and light. Through our two business segments, Acuity Brands Lighting and Lighting Controls ("ABL") and the Intelligent Spaces Group ("ISG"), we design, manufacture, and bring to market products and services that make a valuable difference in people's lives. We achieve growth through the development of innovative new products and services, including lighting, lighting controls, building management systems, and location-aware applications. Acuity Brands, Inc. achieves customer-focused efficiencies that allow the Company to increase market share and deliver superior returns. The Company looks to aggressively deploy capital to grow the business and to enter attractive new verticals. Acuity Brands, Inc. is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by approximately 13,500 dedicated and talented associates. Visit us at www.acuitybrands.com. Non-GAAP Financial Measures This news release includes the following non-generally accepted accounting principles ("GAAP") financial measures: "adjusted operating profit" and "adjusted operating profit margin" for total company and by segment; "adjusted net income;" "adjusted diluted EPS;" "earnings before interest, taxes, depreciation, and amortization ("EBITDA");" "adjusted EBITDA;" and "free cash flow ("FCF")". These non-GAAP financial measures are provided to enhance the reader's overall understanding of the Company's current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for amortization of acquired intangible assets, share-based payment expense, acquisition-related items, impairment on investment, and special charges associated with continued efforts to streamline the organization and integrate recent acquisitions. FCF is provided to enhance the reader's understanding of the Company's ability to generate additional cash from its business. Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making, and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into the Company's results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software. Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP. The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin for total company and by segment are "operating profit" and "operating profit margin," respectively, for total company and by segment, which include the impact of amortization of acquired intangible assets, share-based payment expense, acquisition-related items, and special charges. Adjusted operating profit margin is adjusted operating profit divided by net sales for total company and by segment. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are "net income" and "diluted EPS," respectively, which include the impact of amortization of acquired intangible assets, share-based payment expense, acquisition-related items, an impairment of investment, and special charges. Adjusted diluted EPS is adjusted net income divided by diluted weighted average shares outstanding. The most directly comparable GAAP measure for FCF is "net cash provided by operating activities, which includes the impact of purchases of property, plant and equipment." The most directly comparable GAAP measure for EBITDA is "net income", which includes the impact of net interest expense, income taxes, depreciation, and amortization of acquired intangible assets. The most directly comparable GAAP measure for adjusted EBITDA is "net income", which includes the impact of net interest expense, income taxes, depreciation, amortization of acquired intangible assets, share-based payment expense, acquisition-related items, special charges, and miscellaneous (income) expense, net. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release. The Company's non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items. Forward-Looking Information This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management's beliefs and assumptions and information currently available to management. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release and is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements are statements other than those of historical fact and may include statements relating to goals, plans, market conditions and projections regarding Acuity Brands' strategy, and specifically include statements made in this press release regarding: strong performance, significant and sustained improvements and generating permanent value. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe, "future," "should," "looks to," "leading to" or "continue" or the negative thereof or variations thereon or similar terminology. A number of important factors could cause actual events to differ materially from those contained in or implied by the forward-looking statements, including those factors discussed in our annual report on Form 10-K for the fiscal year ended August 31, 2021, filed on October 27, 2021 and those described from time to time in our other filings with the U.S. Securities and Exchange Commission (the "SEC"), which can be found at the SEC's website www.sec.gov. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information, whether written or oral, to reflect changes in assumptions, the occurrence of events, or otherwise. ACUITY BRANDS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(In millions)     May 31, 2022   August 31, 2021   (unaudited)     ASSETS       Current assets:       Cash and cash equivalents $ 318.2     $ 491.3   Accounts receivable, less reserve for doubtful accounts of $0.8 and $1.2, respectively   597.2       571.8   Inventories   580.6       398.7   Prepayments and other current assets   112.6       82.5   Total current assets   1,608.6       1,544.3   Property, plant, and equipment, net   269.2       269.1   Operating lease right-of-use assets   63.4       58.0   Goodwill   1,090.9       1,094.7   Intangible assets, net   541.7       573.2   Deferred income taxes   1.8       1.9   Other long-term assets   39.9       33.9   Total assets $ 3,615.5     $ 3,575.1   LIABILITIES AND STOCKHOLDERS' EQUITY       Current liabilities:       Accounts payable $ 452.2     $ 391.5   Current maturities of debt   122.0       —   Current operating lease liabilities   16.2       15.9   Accrued compensation   80.7       95.3   Other accrued liabilities   195.8       189.5   Total current liabilities   866.9       692.2   Long-term debt   494.8       494.3   Long-term operating lease liabilities   52.9       46.7   Accrued pension liabilities   51.0       60.2   Deferred income taxes   100.3       101.0   Other long-term liabilities   131.0       136.2   Total liabilities   1,696.9       1,530.6   Stockholders' equity:       Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued   —       —   Common stock, $0.01 par value; 500,000,000 shares authorized; 54,210,049 and 54,018,978 issued, respectively   0.5       0.5   Paid-in capital   1,025.2       995.6   Retained earnings   3,065.2       2,810.3   Accumulated other comprehensive loss   (103.5 )     (98.2 ) Treasury stock, at cost, of 21,140,982 and 18,826,611 shares, respectively   (2,068.8 )     (1,663.7 ) Total stockholders' equity   1,918.6       2,044.5   Total liabilities and stockholders' equity $ 3,615.5     $ 3,575.1       ACUITY BRANDS, INC.CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)(In millions, except per-share data)   Three Months Ended   Nine Months Ended   May 31, 2022   May 31, 2021   May 31, 2022   May 31, 2021 Net sales $ 1,060.6     $ 899.7   $ 2,895.8     $ 2,468.3 Cost of products sold   615.5       513.1     1,685.6       1,412.6 Gross profit   445.1       386.6     1,210.2       1,055.7 Selling, distribution, and administrative expenses   302.4       268.0     850.1       759.4 Special charges   —       0.5     —       1.5 Operating profit   142.7       118.1     360.1       294.8 Other expense:               Interest expense, net   6.2       6.2     18.1       17.7 Miscellaneous (income) expense, net   (1.5 )     2.7     (3.1 )     6.5 Total other expense   4.7       8.9     15.0       24.2 Income before income taxes   138.0       109.2     345.1       270.6 Income tax expense   32.3       23.5     76.5       62.4 Net income $ 105.7     $ 85.7   $ 268.6     $ 208.2                 Earnings per share:               Basic earnings per share $ 3.10     $ 2.40   $ 7.75     $ 5.70 Basic weighted average number of shares outstanding   34.1       35.7     34.7       36.5 Diluted earnings per share $ 3.07     $ 2.37   $ 7.66     $ 5.66 Diluted weighted average number of shares outstanding   34.4       36.2     35.1       36.8 Dividends declared per share $ 0.13     $ 0.13   $ 0.39     $ 0.39     ACUITY BRANDS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(In millions)   Nine Months Ended   May 31, 2022   May 31, 2021 Cash flows from operating activities:       Net income $ 268.6     $ 208.2   Adjustments to reconcile net income to net cash flows from operating activities:       Depreciation and amortization.....»»

Category: earningsSource: benzinga11 hr. 41 min. ago

The ultra-wealthy are pining for private bankers even as much of Wall Street braces for layoffs

Today's biggest story on Wall Street unpacks demand for private bankers. They bring loyal clients with deep pockets, and could be the ideal tonic for banks struggling with a slowdown in dealmaking. Hi, Aaron Weinman here. I've never needed a private banker, but the über rich are demanding their services as Wall Street firms navigate weakened volumes in investment banking and capital markets.Let's dive into it.If this was forwarded to you, sign up here. Download Insider's app here.Demand still outstrips supply for bankers who cater to the wealthy.Chev Wilkinson1. Private bankers — and their loyal, wealthy clientele — could boost banks' bottom lines as IPO and M&A volumes slump. Layoffs may loom large for Wall Street, but some recruiters reckon private banking will thrive.Already, thousands of mortgage lenders at Wells Fargo and JPMorgan have been let go. Investment bankers are also starting to fret about layoffs as soon as after Labor Day in September, two bankers told Insider.But private bankers who service ultra-high-net-worth individuals are in demand. Hiring has not slowed down, and experienced professionals with a deep Rolodex of clients — who have even deeper pockets — are almost certain to benefit a bank's bottom line.Recruiters who specialize in finding bankers for the wealthy told Insider that demand still far outstrips supply, while candidates are not shy about making their next lucrative move, even in a depressed economic environment.Higher interest rates might also boost hiring for private bankers, especially those who ply their trade at banks with large balance sheets, which are eager to provide high-interest-rate loans.For the full story, read this report from Insider's Hayley Cuccinello.And for more on private banking, check out these stories:Private bankers share how they found their edge by lending to the wealthy against luxury items like yachts and jets.Learn how Goldman Sachs and JPMorgan train their minions to work with the ultra rich.Meet Jared Birchall, the secretive man entrusted with banking Elon Musk's billions.In other news:Yuichiro Chino2. Crypto hedge fund Three Arrows Capital fell into liquidation, CNBC reported. Restructuring firm Teneo has been brought on to outline 3AC's assets, and set up a website so creditors can make their claims on the struggling business.3. FTX chief executive Sam Bankman-Fried expects more crypto exchanges to fail. The crypto billionaire told Forbes that some are already "secretly insolvent" and beyond saving.4. Goldman Sachs' analysts painted a bleak picture for Franklin Templeton. Shares of the $1.5 trillion asset-management firm Franklin Resources dipped 6% after the report.5. Hedge fund Viking Global is after $1 billion to back startups, Bloomberg reported. Viking is raising the money as a structured-equity fund to help private companies navigate a slump in valuations.6. Deel, a remote-work startup, just launched a new tool that helps manage international contractors. Alex Bouaziz, Deel's chief executive, told Insider how the feature aligns with Deel's overall strategy.7. Goldman Sachs' consumer-banking business could lose more than $1.2 billion this year, Bloomberg reported. The losses stem from costs associated with adding new business lines, dealing with the impact of the pandemic, and general expense burn.8. Not all Wall Streeters are back in the office. Some are working from lands far, far, away, so here's how to maintain professional success while traveling. There's also a recipe to staying productive without losing that vacay vibe. And here's how to move, live, and work in Costa Rica, France, and Portugal.9. Graduates from the top business schools in the US pocketed tidy salaries last year. Here are the latest pay packets — including signing bonuses — from six business schools.10. Ghislaine Maxwell was sentenced to 20 years in jail for sexually abusing girls and trafficking them to have sex with the late financier Jeffery Epstein. Here's a look at her family history. And here's all the famous folks Epstein was linked to, and how his death remains shrouded in mystery.Done deals:Wind Point Partners-backed mechanical services company Smart Care has acquired Dutton Food Equipment Repair. Dutton is Smart Care's 19th acquisition, and fourth under Wind Point's ownership. Wind Point is a private-investment firm focused on logistics.Angeles Equity Partners' portfolio company Primus Aerospace has acquired Raloid Corporation. Raloid manufactures components for defense programs.Curated by Aaron Weinman in New York. Tips? Email aweinman@insider.com or tweet @aaronw11. Edited by Lisa Ryan (tweet @lisarya) in New York and Hallam Bullock (tweet @hallam_bullock) in London.Read the original article on Business Insider.....»»

Category: topSource: businessinsider11 hr. 41 min. ago

Durham adtech Kevel acquires Portuguese firm to accelerate growth

An advertising technology firm’s acquisition of a Portuguese company will accelerate expansion and hiring. Durham-based Kevel has acquired Velocidi, an audience segment and remarketing platform. James Avery, Kevel’s CEO and founder, said the company made the deal in order to fill a gap in its offerings. “We continue to build out of product functionality to enable our customers to build ad platforms, and this was kind of the missing piece of the equation,” Avery said. “So for us, it was….....»»

Category: topSource: bizjournals13 hr. 29 min. ago

Amazon blocked more than 150 LGBTQ-related search keywords in the UAE after the government threatened the company

Insider found no results for broad search terms such as "lgbtq," "pride," and "queer" on Amazon.ae as of Thursday. Amazon started removing search results for more than 150 LGBTQ-related keywords in the United Arab Emirates (UAE) after the government pressured it to do so. In June, protestors staged a die-in outside Amazon's corporate headquarters in Seattle.Katherine Long/Insider Amazon removed search results for 150 LGBTQ-related keywords in the UAE, the NYT reported. Same-sex sexual activity is criminal in the UAE, per the State Department. Other tech giants have bowed to pressure from other governments so that they can operate in those markets. Amazon started removing search results for more than 150 LGBTQ-related keywords in the United Arab Emirates (UAE) after the government pressured it to do so, The New York Times reported on Wednesday, citing company documents.The UAE government gave the ecommerce giant until Friday to comply with its request to remove LGBTQ-related search results and threatened to penalize Amazon if it did not do so, The Times reported. The article did not explain why the Emirati government asked Amazon to remove LGBTQ-related search results.On Thursday, Insider searched various LGBTQ-related keywords on Amazon's UAE site, Amazon.ae, and found that several of them returned no results or mentions. Among those that yielded no results were "lgbtq," "pride," and "queer." Some books available on Amazon's US store, such as Maia Kobabe's "Gender Queer: A Memoir" and Jacob Tobia's "Sissy: A Coming-of-Gender Story," could not be found on Amazon's UAE site on Thursday, Insider found. Some LGBTQ-related search terms seem to have bypassed Amazon's removal of search results. Insider searched for "rainbow flag" and found a listing for a writing journal called "Pride Story Paper Book" with a rainbow flag on its cover. Searching the term "same-sex" led to a listing for paper plates and napkins with the words "Mr & Mr" printed on them.UAE-based users could still search for some LGBTQ-themed book titles, such as André Aciman's "Call Me By Your Name," Alice Walker's "The Color Purple," and  a children's book called "Same but different Too: The Colourful Life" by Naomi y Kissiedu-Green and Chris Laxton, Insider found.Same-sex sexual activity is criminal in the UAE, and LGBTQ representation is heavily censored, according to a US State Department report released in April.An Amazon spokesperson confirmed to Insider that the company has restricted some search results on its Amazon.ae store."As a company, we remain committed to diversity, equity, and inclusion, and we believe that the rights of LGBTQ+ people must be protected. With Amazon stores around the world, we must also comply with the local laws and regulations of the countries in which we operate," the spokesperson said.The UAE embassy in Singapore did not immediately respond to Insider's requests for comment.Amazon entered the UAE in 2017 after it acquired Dubai-based ecommerce platform Souq.com, which allowed the Seattle-based company to skip regulatory approvals to operate in the UAE. Amazon's cloud-computing unit planned to open three data centers in the country this year, per a company press release from May 2021.Various Silicon Valley giants have bowed to pressure from governments in exchange for the right to operate in those markets. Apple reportedly stored customers' data on Chinese servers and censored apps in the country, the Times reported in May last year. Apple told the Times it was following regulatory requirements in China and ensured that consumers' data was safe. And in 2019, Netflix removed an episode of a comedy show from Saudi Arabia that mocked the kingdom, the Financial Times reported.Read the original article on Business Insider.....»»

Category: topSource: businessinsider16 hr. 41 min. ago

China "Completes Scientific Exploration" Of Mars, Releases Mind-Blowing Images 

China "Completes Scientific Exploration" Of Mars, Releases Mind-Blowing Images  China's first Mars mission appears to have been a success. On Wednesday, the China National Space Administration (CNSA) announced the Tianwen-1 probe completed all planned scientific exploration tasks, including snapping imagery data of the entire planet.  The mission's scientific objectives were completed by a robotic spacecraft consisting of six devices: an orbiter, two deployable cameras, a lander, a remote camera, and the Zhurong rover. The aims of the mission included: Searching for evidence of current and past life, Producing surface maps, Characterizing soil composition and water ice distribution, and  Examining the Martian atmosphere, particularly its ionosphere. CNSA said the Tianwen-1 had spent two years orbiting Mars while the rover portion of the mission surveyed the surface for about a year. One thousand forty gigabytes of "medium-resolution" and "high-resolution" image data covering the entire world of Mars were acquired.  "As of June 29, the Tianwen-1 mission orbiter has been flying normally for 706 days, orbiting Mars 1,344 times, and has acquired medium-sized data covering the entire planet of Mars. With high-resolution image data, all scientific payloads have achieved global exploration of Mars. The "Zhurong" rover has traveled 1921.5 meters on the surface of Mars. Both the Tianwen-1 mission orbiter and the Mars rover have completed the established scientific exploration​​​," CNSA said.  Some of the photographs released show where the planet's water resources reside. In a 2018 European Space Agency mission to the planet, an orbiting probe found liquid water under the ice of the planet's surface.  Here are the most important developments since the Chinese probe started orbiting Mars in early 2021 and began operations in May 2021:  China's First Mars Mission Begins Next Month As Tianwen-1 Approaches Red Planet China Spacecraft Enters Orbit Around Mars China's Mars Rover Travels 450 Meters, Spots Own Parachute From Lander China Releases Astonishing Images Of Mars Taken By Tianwen-1 Spacecraft CNSA said the scientific data collected would be researched and used to promote humankind's exploration of the universe.  The final frontier is space -- the world's superpowers are on a hunt for trillion-dollar deposits of rare metals that will power Earth's green energy revolution in decades to come.  Tyler Durden Wed, 06/29/2022 - 21:20.....»»

Category: blogSource: zerohedge21 hr. 13 min. ago

$125M Marine and automotive supplier acquisition involves Alabama facility

A South Florida company is set to be acquired by an expanding Georgia-based retailer, and the move impacts an Alabama facility......»»

Category: topSource: bizjournals21 hr. 29 min. ago

mdf commerce reports Fourth Quarter and Full Year Fiscal 2022 Financial Results

Annual revenue increased year-over-year by 27.8% to $108.3 million for FY2022 compared to $84.7 million for FY2021 Q4 FY2022 total revenue of $30.0 million grew by 36% year-over-year from $22.0 million Fiscal 2022 Recurring Revenue (1) grew year-over-year by 36.4% from $64.4 to $87.9 million for FY2022 Q4 FY2022 Recurring Revenue (1) grew year-over-year by 63% from $16.0 million to $26.1 million or 78.9% of total revenue The Corporation announces a new Board Chair as well as a new Board member MONTREAL, June 29, 2022 (GLOBE NEWSWIRE) -- mdf commerce inc. (the "Corporation") (TSX:MDF), a SaaS leader in digital commerce technologies, reported Q4 FY2022 financial results for the three-month and fiscal 2022 full year ended March 31, 2022. Financial references are expressed in Canadian dollars unless otherwise indicated. "Fiscal 2022 was another transformative year for mdf commerce, arguably one of the most transformative in the history of the Corporation. The acquisition of Periscope makes mdf commerce a major player in government eprocurement in North America." said Luc Filiatreault, CEO of mdf commerce. On an annual basis, eprocurement now represents nearly 50% of total consolidated revenue and grew by 61.4% to $52.8 million compared $32.7 million last year. Since the acquisition of Periscope on August 31, 2021, the Corporation has onboarded over 100 government agencies and won 17 Contract Lifecycle Management deals. This performance was achieved despite considerable macro-economic challenges in the back half of the fiscal year." Fourth Quarter Fiscal 2022 Financial Results Total revenues for the fourth quarter of fiscal 2022, reached $30.0 million, an increase of $7.9 million or 36% compared to $22.0 million reported in Q4 2021. On a constant currency (2) basis, total revenue increased by $8.2 million or 38% compared to the fourth quarter of fiscal 2021. This is the second full quarter that includes Periscope results. Total Q4 FY2022 revenues were impacted by a fair value adjustment on deferred revenues at the closing date of the Periscope acquisition and resulted in a $1.9 million reduction of revenue for the quarter. Recurring Revenue(1) represents $26.1 million or 78.9%(1) of total revenues for Q4 FY2022 and grew by $10.1 million compared to $16.0 million or 72%(1) of total revenues for Q4 FY2021. Our two core platforms, eprocurement and Unified Commerce contributed to revenue growth for the fourth quarter as follows: The eprocurement platform generated revenues of $15.8 million, an increase of $7.1 million or 81.5% compared to $8.7 million in Q4 FY2021. Due to Periscope's US focus, the Corporation's US-based eprocurement revenue grew by 153.4% or $6.7 million to $11.1 million in the fourth quarter of fiscal 2022, compared to $4.3 million reported in the same quarter of prior year.Monthly Recurring Revenue (1) for the eprocurement platform represented 90.4% of platform revenues for Q4 FY2022, relatively unchanged compared to Q4 FY2021. The Unified Commerce platform, which includes both ecommerce and Supply Chain Collaboration solutions, generated revenues of $9.8 million for Q4 FY2022, an increase of $0.2 million or 1.7% compared to revenues of $9.7 million for Q4 FY2021.Monthly Recurring Revenue(1) for the Unified Commerce platform represents 59% of platform revenues for Q4 FY2022 compared to 62% for Q4 FY2021. The emarketplaces platform generated revenues of $4.3 million for Q4 FY2022, an increase of $0.7 million or 18.5% compared to revenues of $3.7 million for Q4 FY2021. The revenue growth in emarketplaces was driven primarily by The Broker Forum, which is an electronics parts marketplace, where volumes increased due to global supply chain shortages. Gross margin for Q4 FY2022 was $16.6 million or 55.5% compared to $13.5 million or 61.1% for Q4 FY2021. The decrease in the gross margin percentage is mainly due to higher total salary expense related to higher salary costs, higher professional fees to support customer implementations and deployments with lower margins than right of use revenues, and higher hosting and licenses costs directly related the Corporation's transition to a cloud-based strategy. For Q4 FY2022, total operating expenses were $23.6 million, an increase of 41.3% compared to $16.7 million in Q4 FY2021. General and administrative expenses totalled $7.4 million in Q4 FY2022, selling and marketing expenses were $8.0 million and technology expenses were $8.2 million, compared to $5.3 million, $5.8 million and $5.6 million respectively for Q4 FY2021. These changes reflect Management's ongoing focus on product improvements, cloud migration as well as sales to support revenue generating efforts. Total operating expenses increased mainly due to the acquisition of Periscope, salary, and related expenses, to additional amortization expense related to the Periscope acquisition and to an increase in hosting fees related to the Corporation's transition to a cloud-based strategy. Operating expenses for the fourth quarter of the previous year included a federal wage subsidy in the context of COVID-19 of $0.5 million, while no subsidies were claimed in Q4 FY2022. The Corporation recorded an operating loss of $7.0 million during Q4 FY2022, compared to operating loss of $3.3 million in Q4 FY2021. Net loss was $8.7 million or $0.21 net loss per share basic and diluted in Q4 FY2022, compared to a net loss of $2.9 million or $0.12 net loss per share basic and diluted in Q4 FY2021. Adjusted EBITDA(3) loss was $0.8 million for Q4 FY2022 compared to Adjusted EBITDA(3) of $0.2 million reported for Q4 FY2021. The accounting adjustment to the fair value of deferred revenues as of the date of the Periscope acquisition resulted in a reduction of revenue of $1.9 million in Q4 FY2022, which had an unfavorable impact on gross margin, operating loss, net loss, Adjusted EBITDA (3) and loss per share (basic and diluted) for Q4 FY2022. Full-year Fiscal 2022 Financial Results Full-year FY2022 total revenue was $108.3 million, a 27.8% increase over $84.7 million for FY2021. On a constant currency(2) basis, total revenue increased by $25.2 million or 30.3% compared to fiscal 2021. Total FY2022 revenues were impacted by an accounting fair value adjustment on deferred revenues at the closing date of the Periscope acquisition and resulted in a $5.4 million reduction for the 7-months of Periscope included in the year. Total FY2022 Recurring Revenue (1) represented $87.9 million or 77% of total revenues for fiscal 2022, compared to $64.4 million or 76% of total revenues for FY2021. Our two core platforms, eprocurement and Unified Commerce contributed to revenue growth for the FY2022 as follows: The eprocurement platform generated $52.8 million, a 61.4% increase compared to $32.7 reported for FY2021. Fiscal 2022 includes seven months of revenue related to the Periscope acquisition. The US-based eprocurement solutions, which includes Bidnet, CBI and Periscope, contributed $34.9 million, compared to $15.7 million in fiscal 2021, an increase of $19.2 million or 122.9%. US-based revenues for Fiscal 2022 represented 66.5% of total eprocurement revenue. Revenue recognition for Periscope was negatively impacted by a fair value adjustment on deferred revenues totaling $5.4 million at the closing date of the Periscope acquisition for the 7-month period ended March 31, 2022. The Unified Commerce platform generated revenues of $39.6 million for FY2022, an increase of $2.3 million or 6.2% compared to revenues of $37.3 million for the previous fiscal year. The ecommerce solutions within Unified Commerce grew by 7.9% to $26.1 from $24.2 million and Supply Chain solutions grew by 2.8% to $13.4 million from $13.1 million. The emarketplaces platform generated revenues of $15.9 million for fiscal 2022, an increase of $1.2 million or 7.8% compared to revenues of $14.7 million for the previous fiscal year. Gross margin for FY2022 was $61.3 million or 56.7% compared to $54.7 million or 64.5% for fiscal 2021. Total operating expenses were $86.9 million for FY2022, including 7-months of Periscope, compared to $61.5 million in FY2021. General and administrative expenses totalled $29.0 million in FY2022, selling and marketing expenses were $29.1 million and technology expenses were $28.8 million, compared to $18.1 million, $20.4 million, and $23.0 million respectively for FY2021. Operating expenses for FY2022 included a federal wage subsidy in the context of COVID-19 of $0.7 million compared to an amount of $2.4 million in FY2021. The operating loss was $25.5 million for FY2022, compared to operating loss of $6.8 million for FY2021. FY2022 net loss was $23.9 million or $0.64 net loss per share basic and diluted compared to a net loss of $7.6 million or $0.38 net loss per share basic and diluted for FY2021. During fiscal 2022, the acquisition of Periscope, resulted in higher acquisition-related and restructuring costs, expense related to the increase in fair value of the contingent purchase price consideration, and higher amortization expense on acquired intangible assets and right of use assets. Total Adjusted EBITDA(3) loss for FY2022 was $2.0 million, compared to Adjusted EBITDA(3) of $5.7 million for FY2021. The decrease in Adjusted EBITDA is related to ongoing foundational investments, growth in headcount in sales, marketing, human resources to support growth as well as professional services associated with growth strategies, offset by realized operating efficiencies and cost containment. The acquisition accounting adjustment to the fair value of deferred revenues as of the acquisition date, which resulted in a reduction of revenue of $5.4 million in FY2022, also had an unfavorable impact on gross margin, operating loss, net loss, Adjusted EBITDA (3) and loss per share (basic and diluted) for FY2022. Summary of consolidated results   Three-month periods ended Fiscal year ended   March 31,2022 March 31,2021 March 31,2022 March 31, 2021 In thousands of Canadian dollars, except per share amounts $ $ $ $ Revenues 29,954   22,030   108,259   84,719   Operating loss (6,964 ) (3,284 ) (25,540 ) (6,791 ) Net loss (8,672 ) (2,858 ) (23,938 ) (7,591 ) Adjusted EBITDA (loss)(3) (803 ) 221   (1,977 ) 5,746   Adjusted loss(4) (8,672 ) (2,858 ) (23,938 ) (7,591 ) Loss per share (basic and diluted) (0.21 ) (0.12 ) (0.64 ) (0.38 ) Adjusted loss per share(4)(basic and diluted) (0.21 ) (0.12 ) (0.64 ) (0.38.....»»

Category: earningsSource: benzingaJun 29th, 2022

3 Reasons to Retain Catalent (CTLT) Stock in Your Portfolio

Catalent's (CTLT) robust facility expansion activities and a slew of strategic deals raise optimism about the stock. Catalent, Inc. CTLT is well-poised for growth in the coming quarters, backed by its robust facility-expansion activities over the past few months. A robust third-quarter fiscal 2022 performance, along with a slew of strategic deals over the past few months, is expected to contribute further. Catalent’s operation in a competitive landscape and regulatory requirements pose threats.Over the past year, this Zacks Rank #3 (Hold) stock has lost 2.2% compared with a 30.8% fall of the industry and 11.6% decline of the S&P 500.The renowned global provider of advanced delivery technologies has a market capitalization of $19.01 billion. Catalent projects 17.3% growth for the next five years and expects to maintain its strong performance. It has delivered an earnings surprise of 9.2% for the past four quarters, on average.Image Source: Zacks Investment ResearchLet’s delve deeper.Expansionary Activities: We are upbeat about Catalent’s robust expansionary activities like the opening of a slew of facilities over the past few months. In May, the company announced that it commenced a $175-million project to expand its flagship U.S. manufacturing facility for large-scale oral dose forms in Winchester, KY.In April, Catalent announced that it completed a significant expansion of its nasal capabilities at its Morrisville, Research Triangle Park, NC-based facility to provide improved services for the development and manufacturing of unit and bi-dose nasal spray products.Strategic Deals: We are optimistic about Catalent’s robust growth opportunities via its recent tie-ups and buyouts. This month, the company entered into a development agreement with MigVax to leverage its proprietary Zydis Bio orally disintegrating tablet technology for delivering the MigVax-101 vaccine.Catalent, in April, acquired Erytech Pharma’s commercial-scale cell therapy manufacturing facility in Princeton, NJ.Strong Q3 Results: Catalent’s solid third-quarter fiscal 2022 results, along with the year-over-year uptick in the top and bottom lines, buoy optimism. Continued strength in its Biologics arm in the quarter under review looks encouraging. Robust performances by the Clinical Supply Services, and the Softgel and Oral Technologies segments, also raise optimism. A raised financial outlook for the year heightens our positivity regarding the stock.DownsidesRegulatory Requirements: The healthcare industry is highly regulated, wherein Catalent and its customers are subject to various local, state, federal, national and transnational laws and regulations, including the operating, quality, and security standards of the FDA and the DEA.Any future change to such laws and regulations could affect the company. Failure by Catalent or its customers to comply with the requirements of these regulatory authorities could result in warning letters, among others.Stiff Competition: Catalent operates in a highly competitive market, wherein it competes with multiple companies, including those offering advanced delivery technologies and outsourced dose form or biologics manufacturing. The company also competes in some cases with the internal operations of those pharmaceutical, biotechnology and consumer health customers that also have manufacturing capabilities and choose to source these services internally.Estimate TrendCatalent is witnessing a positive estimate revision trend for 2022. In the past 90 days, the Zacks Consensus Estimate for its earnings has moved 0.8% north to $3.79.The Zacks Consensus Estimate for the company’s fourth-quarter fiscal 2022 revenues is pegged at $1.33 billion, suggesting a 12.1% improvement from the year-ago quarter’s reported number.Key PicksSome better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. AMN, Omnicell, Inc. OMCL and Masimo Corporation MASI.AMN Healthcare, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.You can see the complete list of today’s Zacks #1 Rank stocks here.AMN Healthcare has gained 13.3% against the industry’s 44.7% fall in the past year.Omnicell, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 20%. OMCL’s earnings surpassed estimates in three of the trailing four quarters and missed the same in the other, the average beat being 13.4%.Omnicell has lost 25.1% compared with the industry’s 54.9% fall over the past year.Masimo, carrying a Zacks Rank #2 at present, has an earnings yield of 3.4% against the industry’s negative yield. MASI’s earnings surpassed estimates in the trailing four quarters, the average beat being 4.4%.Masimo has lost 43.3% compared with the industry’s 25.5% fall over the past year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicell, Inc. (OMCL): Free Stock Analysis Report Masimo Corporation (MASI): Free Stock Analysis Report AMN Healthcare Services Inc (AMN): Free Stock Analysis Report Catalent, Inc. (CTLT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 29th, 2022

Equinor (EQNR) to Buy Triton Power as Part of Low-Carbon Plan

Upon the deal closure, Equinor (EQNR) and SSE Thermal will own and operate Triton Power with equal opportunities. Equinor ASA EQNR collaborated with SSE Thermal to acquire power generating company Triton Power for £341 million.The move is part of the initiative taken by European energy companies to clean up their operations and transit to renewable energy.The acquisition involves three U.K. electricity facilities, which will be used to develop low-carbon projects to drive the net-zero transition. The Saltend power station is the main facility acquired with Triton Power, with an installed capacity of 1.2 gigawatts (GW).The Saltend power station is a typical natural gas-powered combined gas turbine plant in Yorkshire. Equinor and SSE Thermal intend to develop the facility to operate on up to 30% hydrogen from 2027. The companies plan to have the facility operating on 100% hydrogen in the future, which can be derived from Equinor’s Hydrogen to Humber (H2H) Saltend decarbonization project.Triton Power is part of Equinor’s H2H Saltend decarbonization project. The project involves the construction of a blue hydrogen plant in northeast England, which has a hydrogen production capacity of 0.6 GW.Upon the deal closure, Equinor and SSE Thermal will own and operate Triton Power with equal opportunities. The companies are already developing hydrogen power plants, hydrogen storage and conventional combined gas turbine with carbon-capture facilities in Keadby and Peterhead in Scotland.The latest acquisition reflects Equinor’s dedication to developing a strong energy partnership with the U.K.  The flexibility of the power system is crucial as the demand for clean energy is expected to significantly grow over the coming years. The companies will explore ways to decarbonize Saltend and create opportunities at other assets to play a continued role in a net-zero future.Price PerformanceShares of Equinor have outperformed the industry in the past six months. The stock has gained 34.4% compared with the industry’s 29% growth. Image Source: Zacks Investment Research Zacks Rank & Stocks to ConsiderEquinor currently carries a Zack Rank #3 (Hold).Investors interested in the energy sector might look at the following companies that presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Matador Resources Company MTDR is among the leading oil and gas explorer in unconventional resources in the United States. MTDR has hedging deals for 2022 oil and gas production in place, which will help it to navigate through any weak price environment.Matador has a strong focus on returning capital to shareholders. MTDR recently announced a quarterly cash dividend of 10 cents per share, which doubled from the cash dividend of 5 cents initiated last year.Range Resources Corporation RRC is among the top 10 natural gas producers in the United States. The upstream energy firm expects the free cash flow to exceed $1.4 billion this year, which could be the highest among Appalachian players.Range Resources has reinstated its regular quarterly cash dividend, expected to start in the second half of this year. The company anticipated its annual dividend rate at 32 cents per share. RRC’s board of directors approved the authorization of a $500-million share repurchase program, which is likely to be funded with the company’s free cash flow generation.Phillips 66 PSX is the leading player in each of its operations like refining, chemicals and midstream in terms of size, efficiency and strengths. Precisely, it has an oil and gas pipeline network of 22,000 miles, which is expected to increase in the coming days.Phillips 66 has hiked its quarterly dividend to 97 cents per share, representing an increase of 5% from the prior quarter. With the recent resumption of the stock repurchase program, the increment in the quarterly dividend represents Phillips 66’s strong focus on returning capital to stockholders. Since the company’s inception in 2012, this has resulted in its 11th annual dividend hike. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Range Resources Corporation (RRC): Free Stock Analysis Report Phillips 66 (PSX): Free Stock Analysis Report Matador Resources Company (MTDR): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 29th, 2022

Arthur J. Gallagher (AJG) Expands in England With Erimus

Arthur J. Gallagher's (AJG) acquisition of Erimus Group is likely to help the acquirer reinforce its presence in England. Arthur J. Gallagher & Co. AJG has acquired Erimus Group Limited. The terms of the transaction have not been disclosed.Established in 1986, Tees-side, England-based Erimus is a retail insurance broker. Erimus provides commercial combined, business interruption, commercial property, cyber, D&O and employers liability insurance and has a solid presence in the North East of England.The addition of Erimus to Arthur J. Gallagher’s portfolio will provide the acquirer with better growth opportunities as well as reinforce its presence in England.Inorganic Growth StoryArthur J. Gallagher boasts an impressive inorganic story. This Zacks Rank #3 (Hold) insurance broker closed five new tuck-in brokerage mergers, representing about $32 million of estimated annualized revenues in the first quarter of 2022. The recent acquisition marks the ninth acquisition in the second quarter of 2022. AJG’s merger and acquisition pipeline is quite strong, with about $250 million of revenues, associated with about 40 term sheets either agreed upon or being prepared.Arthur J. Gallagher’s revenues are geographically diversified with strong domestic and international operations and a compelling product and service portfolio. A solid capital position supports AJG in its growth initiatives and it thus remains focused on continuing its tuck-in mergers and acquisitions.AJG remains focused on long-term growth strategies for delivering organic revenue improvement and pursuing strategic mergers and acquisitions. AJG is focused on productivity improvements and quality enhancements that should help it post sturdy numbers in the future. Price PerformanceShares of Arthur J. Gallagher have gained 16.5% in the past year against the industry’s decrease of 6.2%. The efforts to ramp up its growth profile and capital position should continue to drive the share price higher.Image Source: Zacks Investment ResearchOther Acquisitions in the Same SpaceGiven the insurance industry’s adequate capital level, players like Brown & Brown Inc. BRO and Marsh & McLennan Companies, Inc. MMC have been pursuing strategic mergers and acquisitions.Brown & Brown’s subsidiary Brown & Brown Dealer Services has acquired all the assets of Profits Creation Corp. to consolidate its presence in the Southeast. BRO’s impressive growth is driven by organic and inorganic means across all segments. It intends to make consistent investments to boost organic growth and margin expansion. Its solid earnings have allowed the company to expand its capabilities, with the buyouts extending the company’s geographic footprint.Marsh & McLennan’s Marsh McLennan Agency acquired Maine-based Clark Insurance to boost its capabilities and more effectively cater to clients, colleagues and the community. Acquisitions are one of the core growth strategies of Marsh & McLennan, helping it to expand product offerings, benefit customers and strengthen its global presence. MMC spent $1.1 billion on buyouts in 2021. On the acquisition front, the insurance broker has been quite active this year as well by expending $24 million on buyouts in the first quarter of 2022.A Stock to ConsiderA better-ranked insurer from the same space is Ryan Specialty Group Holdings, Inc. RYAN, carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for RYAN’s  2022 and 2023 earnings has moved 3.4% and 4.3% north in the past 60 days and indicates a 13% and 19.3% year-over-year increase, respectively. Ryan Specialty delivered a four-quarter average earnings surprise of 19.7%.Shares of BRO, MMC and RYAN have lost 8.6%, 10% and 38.7%, respectively, in the past year. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marsh & McLennan Companies, Inc. (MMC): Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG): Free Stock Analysis Report Brown & Brown, Inc. (BRO): Free Stock Analysis Report Ryan Specialty Holdings Inc. (RYAN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 29th, 2022