Artificial Intelligence
CellaVision AB: Stable start of the year with good growth in APAC
The information was submitted for publication at 08.20 CET on April 22, 2020January 1 – March 31, 2020Net sales increased by 29 % to SEK 134.4 million (103.9).
Sales grew organically by 1 % (31).
EBITDA increased to SEK 41.2 million (38.3).
EBITDA margin was 31 % (37).
Profit before tax was SEK 25.5 million (34.8).
Earnings per share before and after dilution were SEK 0.85 (1.15).
Cash flow from operating activities was SEK 15.4 million (51.1).Significant events due to COVID-19Due to the COVID-19 has the Board of Directors withdrawn the original dividend proposal and proposes instead that no dividend be paid for 2019 (SEK 1.50 / share) at the Annual General Meeting 2020 (AGM).
The company expects the COVID-19-pandemic to have a significant negative impact on CellaVision’s sales and earnings for a number of months.
In accordance with the above, the AGM has been postponed and will be held no later than June 30. CellaVision will issue a new notice to the AGM no later than four weeks before the AGM is due to take place.CEO’s commentsSales in the first quarter of 2020 were SEK 134.4 million (103.9), representing organic growth of one percent and a positive currency effect of four percent. Including sales of RAL Diagnostics (RAL) products, growth was 29 percent. Sales grew in all regions. In EMEA, growth was 42 percent, mainly thanks to the acquisition of RAL. In Americas, growth was 3 percent, compared to the very strong first quarter of 2019 and in APAC, growth was 99 percent compared to a weak first quarter of 2019. The effects of the ongoing COVID-19-pandemic were limited in the quarter but are expected to be significant in the coming months.EBITDA was SEK 41.2 million (38.3) in the quarter, corresponding to an EBITDA margin of 31 percent (37). During the quarter we continued to have good cost control and sound gross margins. Our already strong focus on cost control and cash flow has been further sharpened to equip CellaVision for the effects the COVID-19-pandemic will have.Effects of COVID-19-pandemicThe outbreak of the COVID-19-pandemic is impacting people and businesses world over and is a challenge to us all. CellaVision is following the developments and effects of the pandemic carefully and we will adjust our operations based on developments in the coming quarters.Measures to protect our personnel and limit contagionThe COVID-19 outbreak entails an enormous challenge to people’s lives and health world over. CellaVision has implemented the COVID-19-related safety regulations issued by the authorities in all parts of our business. This means for example that to a great extent we are conducting our operations in a virtual work environment by working at home and meeting digitally.Significant short-term effects of COVID-19-pandemicWe see considerable short-term effects of COVID-19, not least in a decline of the number of blood tests in most markets, but also due to our systems being installation products that require our partners to have physical access to hospitals and laboratories, which is difficult at present. The current situation means that we expect the COVID-19-pandemic to have a negative impact on CellaVision’s sales and earnings over several months. In the first quarter we have seen effects in the form of a lower installation rate in countries that were hit by COVID-19 at an early stage, above all China. As contagion decreased in China, we noted at the end of the quarter that demand for our products in the Chinese market started to approach normal levels, which is very encouraging. We also expect that sales of reagents will be affected to a considerably lesser extent, since this is a consumable that is used for all blood analysis.No immediate impact on productionIn the long term we also see some challenges regarding our supply chain, since we purchase components and raw materials from many countries. In the short term we see good prospects of maintaining production, but if there is a prolonged effect on society and supply chains it will be a challenge for us.Focus on cash flow and liquidityCellaVision has an efficient and scalable business model, using distribution and manufacturing partners, which means that our fixed costs for sales and production are limited. Due to the uncertainty about how long the COVID-19-pandemic will last and how far-reaching the effects will be, CellaVision has decided to put extra focus on safeguarding liquidity. We have therefore implemented several carefully considered actions, where among other things, the Board of Directors has withdrawn the original dividend proposal and proposed instead that no dividend be paid for 2019 (SEK 1.50 / share) at the AGM 2020. We have also decided to postpone the AGM until at the latest June 30. We will publish a new notice as soon as the new date is set.Unchanged great need for CellaVision’s solutionsThe underlying need for digital morphology is unchanged. Treatment of patients with blood-related diseases such as leukemia, lymphoma and myeloma have high priority. This means that we make the assessment that our market will return to previous levels when the COVID-19-pandemic sounded.Further focus on digitizationOne of the effects of the COVID-19-pandemic could be the further acceleration of the digitization that has been in progress for some time. The pandemic has made dramatically clear the major opportunities and benefits of digitization, which could in the long term have positive effects on our business. This is because our solutions make it possible for healthcare professionals such as pathologists and biomedical analysts to work remotely.Market developmentCellaVision made a stable start to 2020, but the COVID-19-pandemic will impact our sales during the year. We have already seen an initial impact in APAC and the effects will also be significant in Americas and EMEA.Americas reported a stable first quarter. Sales were SEK 54.1 million (52.5), representing a growth of 3 percent, compared with a very strong first quarter 2019. Sales of analyzers continued to be good in North America and we also see continuously stronger sales of applications and software.EMEA reported weaker organic growth in the first quarter of 2020. Including sales of RAL’s products, sales grew by 42 percent. Total sales were SEK 54.7 million (38.5). In the past two years we have sharply increased our activities in EMEA, mainly by establishing more new market support organizations. These teams are now becoming operational and during the quarter we also established ourselves in Russia. The CellaVision® DC-1 has now been launched and is available for sale in most European markets.APAC reported a strong quarter, with sales of SEK 25.6 million (12.9), corresponding to an increase of 99 percent compared with a weak first quarter 2019. We see a continued high activity level in the region, with important marketing initiatives on all our key markets, not least China, Japan and Australia.The integration of RALThe acquisition of RAL was formally completed on October 1, 2019 and since then RAL is integrated into CellaVision. CellaVision’s and RAL’s offers will step by step be jointly marketed in all markets where CellaVision is represented in the form of market support organizations. We will also integrate CellaVision’s and RAL’s offers with each other to enable us to offer optimum staining protocols for digital morphology. This work will continue throughout 2020.Geographic expansionDuring the quarter, we completed our establishment in Russia. In total, CellaVision now has 18 local organizations that offer market support in more than 40 countries.InnovationCellaVision® DC-1 has now entered full-scale series production after a gradual upscaling of production in 2019. Provided that the effects of the COVID-19-pandemic on our supply chain are limited, our focus will now be on meeting our customers’ desired delivery dates. However, an extra production control measure will be retained in the first half of 2020 to ensure high and stable production quality.During the first quarter of 2020, the CellaVision® DC-1 was commercially approved in several important markets in addition to the EU countries. During the quarter, we also submitted an application to the FDA (510k) for market clearance in the USA for CellaVision® DC-1. The process for market approval in China for CellaVision® DC-1 was also initiated in the quarter.Our long-term strategy is firmGeographic expansion and R&D are CellaVision’s core areas. When the effects of COVID-19 have abated and the world returned to a more normalized state, we will continue to invest in innovation and geographical expansion to secure our future position in our market segment and maintain strong growth.Zlatko Rihter,
President and CEOQuestions concerning the interim report can be addressed to:
Zlatko Rihter, VD, CellaVision AB, Tel: 0733-62 11 06,
E-mail: [email protected]Magnus Blixt, CFO, CellaVision AB, Tel: 0708-33 81 68
E-mail: [email protected]About CellaVision
CellaVision is an innovative, global medical technology company that develops and sells its own leading systems for routine analysis of blood and other body fluids in health care services. The products replace manual laboratory work, and secure and support effective workflows and skills development within and between hospitals. The company has leading-edge expertise in image analysis, artificial intelligence and automated microscopy. Sales are via global partners with support from the parent company in Lund and by the company´s 18 local market support organizations covering 40 countries. In 2019, sales were SEK 462 million and the company’s growth target is 15 % per year over an economic cycle. CellaVision’s registered office is in Lund, Sweden. The share is listed on the Nasdaq Stockholm, Mid Cap list.
Read more at www.cellavision.comPublication
This information constitutes information that CellaVision AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 8:20 a.m. CET on April 22, 2020. AttachmentCellaVision Interim report January-March 2020
Artificial Intelligence
Flat Ads Makes Its Mark at DMEXCO 2024: Showcasing Strength in Programmatic Advertising
COLOGNE, Germany, Sept. 20, 2024 /PRNewswire/ — In September, Flat Ads makes its mark at DMEXCO 2024, the prestigious European event of digital marketing and technology. The highly successful exhibition boasts 650 exhibitors, 850 speakers, and thousands of participants. At the event, Flat Ads showcased the strength of programmatic advertising platform in ad delivery, traffic optimization, and brand safety.
Flat Ads programmatic advertising platform has an exclusive developer traffic of 700 million and an extensive network spanning over 200 countries and regions worldwide. It cooperates with over 200 leading DSP/SSP partners, including FreeWheel, PubMatic and Criteo, leveraging an efficient and complete bidding system, as well as automatic delivery algorithms, to achieve precise marketing and advertising effectiveness maximization.
With its exclusive platform strategy algorithm, Flat Ads programmatic advertising platform can continuously conduct automatic exploration and matching based on the characteristics of DSP and traffic, optimize and adjust the algorithm model in real-time. This not only ensures the sustainability of DSP budgets, but also maximizes traffic utilization and enhances monetization revenue of advertisements.
Moreover, brand protection is among the top priorities of Flat Ads. In addition to accessing to authority agency Pixalate to test the effectiveness of ads, it has also accessed HUMAN, the global cybersecurity authority to safeguard its clients by preventing bot attacks, digital fraud and abuse, ensuring a stable, reliable, and secure programmatic advertising transaction platform.
By participating in DMEXCO 2024, Flat Ads showcased its outstanding strength and fruitful achievements in the programmatic advertising field, attracting the attention of numerous advertisers and developers for cooperation. Flat Ads boasts not only robust technical capabilities and innovative prowess, but also an active and open attitude towards emerging technologies, embracing and exploring them. It remains committed to providing more professional and efficient global marketing services to advertisers and developers worldwide, helping clients stand out in the fiercely competitive market and achieve business growth.
As a globally leading mobile advertising marketing platform, Flat Ads currently operates offices in Singapore, Indonesia, Hong Kong, and Guangzhou, serving over 1000 clients with global marketing solutions. If you’re interested in Flat Ads’ programmatic advertising services, please visit www.flat-ads.com.
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Artificial Intelligence
Fraud Detection & Prevention Market to Reach $252.7 Billion, Globally, by 2032 at 24.3% CAGR: Allied Market Research
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market.
PORTLAND, Ore., Sept. 20, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Fraud Detection & Prevention Market by Component (Solution and Service), Deployment Mode (On-Premises and Cloud), Organization Size (Large Enterprises and Small and Medium-sized Enterprises) and Industry Vertical (BFSI, IT and Telecom, Retail, Healthcare, Government and Defense, Manufacturing, Transportation and Logistics and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the “fraud detection & prevention market” was valued at $29.5 billion in 2022, and is projected to reach $252.7 billion by 2032, growing at a CAGR of 24.3% from 2023 to 2032.
The introduction of big data analytics, cloud computing services, and an upsurge in mobile payment drive the growth of the market. In addition, the rise in the adoption of banking & financial sectors across the globe fuels the growth of the market. Moreover, continuous technological advancements are expected to provide lucrative opportunities for the growth of the market during the forecast period. On the contrary, the high cost of fraud detection and prevention solutions limits the growth of the fraud detection & prevention market.
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The solution segment held the highest market share in 2022.
By component, the solution segment dominated the market in 2022, this dominance is driven by the increasing demand for advanced technological solutions that can effectively detect, monitor, and prevent fraudulent activities across various industries such as banking, e-commerce, and insurance. Solutions like AI-based fraud detection, machine learning algorithms, and behavioral analytics have become critical tools in identifying potential fraud in real time and reducing financial losses. However, the service segment is expected to witness the largest CAGR of 28.0%, this growth is driven by the increasing need for specialized services such as consulting, implementation, and maintenance to help organizations effectively integrate and optimize fraud detection solutions.
The BFSI segment held the highest market share in 2022.
By industry vertical, the BFSI segment accounted for the largest share in 2022. This is primarily due to the high frequency and sophistication of fraud targeting financial institutions, making fraud detection and prevention solutions a critical need in the BFSI sector. Financial transactions, online banking, and digital payments are particularly vulnerable to cyberattacks, phishing schemes, and identity theft, driving the sector’s substantial investment in advanced fraud detection technologies. However, the retail segment is expected to witness the largest CAGR of 32.7%. This anticipated growth is driven by several factors. Retailers are increasingly targeted by fraudsters due to the high volume of transactions and the sensitivity of customer data involved. As e-commerce and digital transactions expand, the need for advanced fraud detection and prevention solutions becomes more critical.
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Regional Insights: The North America region held the highest market share in 2022.
By region, the fraud detection & prevention market was dominated by North America in 2022. North America, particularly the U.S., has a highly developed financial and technological infrastructure that supports advanced fraud detection solutions. The region’s significant investments in cybersecurity and fraud prevention technologies, combined with a high incidence of cyber threats, drive continuous innovation and adoption of sophisticated fraud management systems.
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Key Industry Developments
In February 2024, the U.S. Department of the Treasury announced that it has recovered over $375 million as a result of its implementation of an enhanced fraud detection process that utilizes Artificial Intelligence (AI) at the beginning of Fiscal Year 2023.In April 2024, Cognizant collaborated with FICO, to launch a cloud-based real-time payment fraud prevention solution powered by FICO Falcon Fraud Manager. The joint offering would leverage both firms’ artificial intelligence (AI) and machine learning (ML) technology to help banks and other payment service providers in North America protect their customers from fraud in the growing world of instant digital payments.In September 2022, Deutsche Bank collaborated with Visa, to help prevent online retail fraud. Merchants who process their e-commerce payments via Deutsche Bank can now use “Decision Manager,” an automated fraud detection system from Visa-owned company Cybersource.AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
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We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Artificial Intelligence
G42 Collaborates with NVIDIA to Deliver Next-Generation Climate Solutions Using Earth-2
ABU DHABI, UAE, Sept. 20, 2024 /PRNewswire/ — G42, a leader in AI and cloud computing, today announced that it is partnering with NVIDIA to advance climate technology with a focus on developing AI solutions aimed at dramatically enhancing the accuracy of weather forecasting globally.
The collaboration builds on NVIDIA’s Earth-2, an open platform that accelerates climate and weather predictions with interactive, AI-augmented, high-resolution simulation. G42 and NVIDIA will initially focus on a square-kilometer resolution weather forecasting model that improves the accuracy of meteorological predictions.
Key to this initiative is the establishment of a new operational base and Climate Tech Lab in Abu Dhabi. This state-of-the-art facility will serve as a hub for research and development, driving forward both companies’ commitment to environmental sustainability. This facility will also mobilize the creation of tailored climate and weather solutions that leverage over 100 petabytes of geophysical data assets.
Peng Xiao, Group CEO of G42, said, “This initiative with NVIDIA is a testament to our commitment to applying AI in ways that not only innovate but also solve critical global challenges. Establishing the Earth-2 Climate Tech Lab in Abu Dhabi allows us to leverage our unique capabilities and insights to foster a sustainable future for the world.”
In addition to fostering innovation in climate technology, the initiative will focus on building a robust framework for integrating enhanced weather prediction capabilities with comprehensive data metrics and visualization. This will assist organizations worldwide in achieving their sustainability goals through well-informed, data-driven environmental strategies.
“Our collaboration with G42 marks a pivotal step toward harnessing AI to understand and predict climate phenomena with unprecedented accuracy,” said Jensen Huang, founder and CEO of NVIDIA. “The Earth-2 Climate Tech Lab will propel environmental solutions using the most advanced accelerated computing and AI technology to benefit millions of people around the world.”
By uniting G42’s AI expertise with NVIDIA’s computational acumen, this partnership aims to deliver transformative climate solutions that combine scientific accuracy with real-world applicability, driving impactful change across industries and ecosystems.
About G42
G42 is a technology holding group, a global leader in creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and operating worldwide, G42 champions AI as a powerful force for good across industries. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today. To know more visit www.g42.ai.
Media contactsMedia and PR Team, [email protected]
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