Artificial Intelligence
DLH Reports Fiscal 2021 Second Quarter Results
ATLANTA, May 05, 2021 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of innovative healthcare services and solutions to federal agencies, today announced financial results for its fiscal second quarter ended March 31, 2021.
Highlights
- Second quarter revenue increased to $61.5 million in fiscal 2021 from $54.8 million in fiscal 2020, reflecting the acquisition of Irving Burton Associates (“IBA”)
- Operating margins rose to 7.5% in the current year second quarter from 7.0% in the prior-year period
- Earnings were $2.6 million, or $0.19 per diluted share, for the fiscal 2021 second quarter versus $2.1 million, or $0.16 per diluted share, for the second quarter of fiscal 2020
- After the end of the quarter, in April 2021, the Company announced it had won the Consolidated Mail Outpatient Pharmacy (“CMOP”) logistics recompete with U.S. Department of Veterans Affairs (“VA”), worth approximately $202 million over five years
- Contract backlog was $608.7 million as of March 31, 2021, excluding the subsequent CMOP logistics award of approximately $202 million.
Management Discussion
“We continued to see positive trends this quarter impacting all aspects of our performance, supporting our confidence for the year ahead,” said DLH President and Chief Executive Officer Zach Parker. “Revenue rose 12% versus the comparable period in 2020, and we reported improved operating margins of 7.5% along with earnings of $0.19 per share. We remain focused on de-levering the Company further as the year progresses and affirm our prior estimate of a debt balance of $50 to $52 million at fiscal year end. We’re actively bidding on numerous other opportunities within our core markets, underscoring our positive outlook for the remainder of fiscal 2021.
“In April, we announced that the VA had awarded us a follow-on contract to provide medical logistics for its CMOP program, which we’ve now managed for over two decades. The VA’s confidence in our ability to continue providing this invaluable service – made even more important by the pandemic – speaks volumes to the capabilities of our staff and demonstrates our commitment to this agency. We are honored by the award of this contract, which includes a base period of one year and four one-year options, providing enhanced revenue visibility and stability.”
Results for the Three Months Ended March 31, 2021
Revenue for the second quarter of fiscal 2021 was $61.5 million versus $54.8 million in the prior-year period. The increase was due principally to the Company’s IBA acquisition, completed September 30, 2020, which added approximately $7.4 million in revenue; partially offset by reductions in travel-related program revenue compared to the prior-year period. The reduction in travel-related program revenue was primarily due to the COVID-19 pandemic.
Income from operations was $4.6 million for the quarter versus $3.8 million in the prior-year period and, as a percent of revenue, the Company reported an operating margin of 7.5% in fiscal 2021 versus 7.0% in fiscal 2020. The current year performance reflects increased revenue contribution from time and materials programs, which generally yield stronger returns than cost reimbursable contracts, and lower general and administrative (“G&A”) expenses, partially offset by higher depreciation and amortization. Interest expense in the quarter increased to $1.0 million, versus $0.9 million for the three months ended March 31, 2020, due to higher outstanding debt levels, reflecting the acquisition of IBA. Income before taxes was $3.6 million for the quarter versus $2.9 million in fiscal 2020, representing 5.9% and 5.3% of revenue, respectively, for each period.
For the three months ended March 31, 2021 and 2020, respectively, DLH recorded a $1.0 million and $0.9 million provision for tax expense. The Company reported net income of approximately $2.6 million, or $0.19 per diluted share, for the second quarter of fiscal 2021 versus $2.1 million, or $0.16 per diluted share, for the second quarter of fiscal 2020. As a percent of revenue, net income was 4.2% for the second quarter of fiscal 2021 versus 3.7% for the prior year period.
On a non-GAAP basis, EBITDA for the three months ended March 31, 2021 was approximately $6.6 million versus $5.6 million in the prior-year period, or 10.8% and 10.2% of revenue, respectively.
Key Financial Indicators
Fiscal year to date, DLH has generated $6.1 million in operating cash, and has paid down $7.2 million of its secured loan facility. The Company anticipates strong operating cash flow for the remainder of the fiscal year and intends to continue using cash to make debt prepayments when possible.
As of March 31, 2021, the Company had cash and cash equivalents of $0.4 million and debt outstanding under its credit facility of $62.8 million, versus cash of $1.4 million and debt outstanding of $70.0 million as of September 30, 2020.
At March 31, 2021, total backlog was approximately $608.7 million, including funded backlog of approximately $84.6 million, and unfunded backlog of $524.1 million. The backlog excluded the April CMOP logistics contract award of approximately $202 million.
Conference Call and Webcast Details
DLH management will discuss second quarter results and provide a general business update, including current competitive conditions and strategies, during a conference call beginning at 11:00 AM Eastern Time Thursday, May 6, 2021. Interested parties may listen to the conference call by dialing 888-347-5290 or 412-317-5256. Presentation materials will also be posted on the Investor Relations section of the DLH website prior to the commencement of the conference call.
A digital recording of the conference call will be available for replay two hours after the completion of the call and can be accessed on the DLH Investor Relations website or by dialing 877-344-7529 and entering the conference ID 10155504.
About DLH
DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,200 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management “believes”, “expects”, “anticipates”, “plans”, “intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH’s actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues, operating income, earnings and cash flow. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the outbreak of the novel coronavirus (“COVID-19”), including the measures to reduce its spread, and its impact on the economy and demand for our services, are uncertain, cannot be predicted, and may precipitate or exacerbate other risks and uncertainties; the risk that we will not realize the anticipated benefits of our recent or any future acquisition; the challenges of managing larger and more widespread operations resulting from our recent acquisition; contract awards in connection with re-competes for present business and/or competition for new business; compliance with new bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the ability to successfully integrate the operations our recent acquisition and of any future acquisitions; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2020, as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law.
CONTACTS:
TABLES TO FOLLOW
DLH HOLDINGS CORP.
CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands except per share amounts)
| (unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| March 31, | March 31, | |||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||
| Revenue | $ | 61,506 | $ | 54,798 | $ | 119,358 | $ | 107,036 | ||||||||
| Cost of Operations: | ||||||||||||||||
| Contract costs | 48,722 | 42,941 | 94,727 | 84,281 | ||||||||||||
| General and administrative costs | 6,135 | 6,260 | 12,285 | 12,174 | ||||||||||||
| Depreciation and amortization | 2,029 | 1,760 | 4,091 | 3,619 | ||||||||||||
| Total operating costs | 56,886 | 50,961 | 111,103 | 100,074 | ||||||||||||
| Income from operations | 4,620 | 3,837 | 8,255 | 6,962 | ||||||||||||
| Interest expense, net | 1,004 | 906 | 2,084 | 1,846 | ||||||||||||
| Income before income taxes | 3,616 | 2,931 | 6,171 | 5,116 | ||||||||||||
| Income tax expense | 1,049 | 855 | 1,790 | 1,488 | ||||||||||||
| Net income | $ | 2,567 | $ | 2,076 | $ | 4,381 | $ | 3,628 | ||||||||
| Net income per share – basic | $ | 0.20 | $ | 0.17 | $ | 0.35 | $ | 0.30 | ||||||||
| Net income per share – diluted | $ | 0.19 | $ | 0.16 | $ | 0.32 | $ | 0.28 | ||||||||
| Weighted average common shares outstanding | ||||||||||||||||
| Basic | 12,544 | 12,299 | 12,521 | 12,193 | ||||||||||||
| Diluted | 13,570 | 13,003 | 13,568 | 12,886 | ||||||||||||
DLH HOLDINGS CORP.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands except par value of shares)
| March 31, 2021 |
September 30, 2020 |
|||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 420 | $ | 1,357 | ||||
| Accounts receivable | 41,675 | 32,541 | ||||||
| Other current assets | 3,469 | 3,499 | ||||||
| Total current assets | 45,564 | 37,397 | ||||||
| Equipment and improvements, net | 2,593 | 3,339 | ||||||
| Operating lease right-of-use assets | 21,055 | 22,427 | ||||||
| Deferred taxes, net | — | 37 | ||||||
| Goodwill | 65,643 | 67,144 | ||||||
| Intangible assets, net | 50,762 | 52,612 | ||||||
| Other long-term assets | 539 | 606 | ||||||
| Total assets | $ | 186,156 | $ | 183,562 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Debt obligations – current, net of deferred financing costs | $ | 3,124 | $ | 6,727 | ||||
| Operating lease liabilities – current | 2,130 | 2,045 | ||||||
| Accrued payroll | 12,012 | 10,611 | ||||||
| Accounts payable, accrued expenses, and other current liabilities | 30,824 | 28,578 | ||||||
| Total current liabilities | 48,090 | 47,961 | ||||||
| Long-term liabilities: | ||||||||
| Deferred taxes, net | 1,475 | — | ||||||
| Debt obligations – long term, net of deferred financing costs | 57,199 | 60,544 | ||||||
| Operating lease liabilities – long-term | 20,499 | 21,620 | ||||||
| Total long-term liabilities | 79,173 | 82,164 | ||||||
| Total liabilities | 127,263 | 130,125 | ||||||
| Shareholders’ equity: | ||||||||
| Common stock, $0.001 par value; authorized 40,000 shares; issued and outstanding 12,545 and 12,404 at March 31, 2021 and September 30, 2020, respectively | 13 | 12 | ||||||
| Additional paid-in capital | 86,942 | 85,868 | ||||||
| Accumulated deficit | (28,062 | ) | (32,443 | ) | ||||
| Total shareholders’ equity | 58,893 | 53,437 | ||||||
| Total liabilities and shareholders’ equity | $ | 186,156 | $ | 183,562 | ||||
DLH HOLDINGS CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
| Six Months Ended | ||||||||
| March 31, | ||||||||
| 2021 | 2020 | |||||||
| (unaudited) | ||||||||
| Operating activities | ||||||||
| Net income | $ | 4,381 | $ | 3,628 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization expense | 4,091 | 3,619 | ||||||
| Amortization of deferred financing costs | 413 | 374 | ||||||
| Stock based compensation expense | 844 | 384 | ||||||
| Deferred taxes, net | 1,512 | 1,258 | ||||||
| Gain from lease modification | — | (121 | ) | |||||
| Changes in operating assets and liabilities | ||||||||
| Accounts receivable | (9,134 | ) | (11,722 | ) | ||||
| Other current assets | 30 | (1,211 | ) | |||||
| Accrued payroll | 1,401 | 1,913 | ||||||
| Accounts payable, accrued expenses, and other current liabilities | 2,245 | 2,280 | ||||||
| Other long-term assets/liabilities | 336 | 260 | ||||||
| Net cash provided by operating activities | 6,119 | 662 | ||||||
| Investing activities | ||||||||
| Business acquisition adjustment, net of cash acquired | 59 | — | ||||||
| Purchase of equipment and improvements | (53 | ) | (141 | ) | ||||
| Net cash provided by (used in) investing activities | 6 | (141 | ) | |||||
| Financing activities | ||||||||
| Borrowing on revolving line of credit, net | — | 2,000 | ||||||
| Repayment of senior debt | (7,250 | ) | (3,000 | ) | ||||
| Payment of deferred financing costs | (43 | ) | (3 | ) | ||||
| Repurchased shares of common stock | — | (211 | ) | |||||
| Proceeds from issuance of common stock upon exercise of options | 231 | 27 | ||||||
| Net cash used in financing activities | (7,062 | ) | (1,187 | ) | ||||
| Net change in cash and cash equivalents | (938 | ) | (666 | ) | ||||
| Cash and cash equivalents at beginning of year | 1,357 | 1,790 | ||||||
| Cash and cash equivalents at end of year | $ | 420 | $ | 1,124 | ||||
| Supplemental disclosures of cash flow information | ||||||||
| Cash paid during the period for interest | $ | 1,639 | $ | 1583 | ||||
| Cash paid during the period for income taxes | $ | 184 | $ | 409 | ||||
| Supplemental disclosures of non-cash activity | ||||||||
| Non-cash cancellation of common stock | $ | — | $ | 211 | ||||
Revenue Metrics
| Six Months Ended | ||||||
| March 31, | March 31, | |||||
| 2021 | 2020 | |||||
| Market Mix: | ||||||
| Defense/VA | 59 | % | 47 | % | ||
| Human Services and Solutions | 14 | % | 21 | % | ||
| Public Health/Life Sciences | 27 | % | 32 | % | ||
| Contract Mix: | ||||||
| Time and materials | 76 | % | 70 | % | ||
| Cost reimbursable | 20 | % | 28 | % | ||
| Firm fixed price | 4 | % | 2 | % | ||
| Prime vs Sub: | ||||||
| Prime | 89 | % | 93 | % | ||
| Subcontractor | 11 | % | 7 | % | ||
Non-GAAP Financial Measures
The Company uses EBITDA and EBITDA as a percent of revenue as supplemental non-GAAP measures of performance. We define EBITDA as net income excluding (i) interest expense, (ii) provision for or benefit from income taxes and (iii) depreciation and amortization. EBITDA as a percent of revenue is EBITDA for the measurement period divided by revenue for the same period.
These non-GAAP measures of performance are used by management to conduct and evaluate its business during its review of operating results for the periods presented. Management and the Company’s Board utilize these non-GAAP measures to make decisions about the use of the Company’s resources, analyze performance between periods, develop internal projections and measure management performance. We believe that these non-GAAP measures are useful to investors in evaluating the Company’s ongoing operating and financial results and understanding how such results compare with the Company’s historical performance.
Reconciliation of GAAP net income to EBITDA, a non-GAAP measure:
| (amounts in thousands) | Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| March 31, | March 31, | |||||||||||||||||||||||
| 2021 | 2020 | Change | 2021 | 2020 | Change | |||||||||||||||||||
| Net income | $ | 2,567 | $ | 2,076 | $ | 491 | $ | 4,381 | $ | 3,628 | $ | 753 | ||||||||||||
| (i) Interest expense, net | 1,004 | 906 | 98 | 2,084 | 1,846 | 238 | ||||||||||||||||||
| (ii) Provision for taxes | 1,049 | 855 | 194 | 1,790 | 1,488 | 302 | ||||||||||||||||||
| (iii) Depreciation and amortization | 2,029 | 1,760 | 269 | 4,091 | 3,619 | 472 | ||||||||||||||||||
| EBITDA | $ | 6,649 | $ | 5,597 | $ | 1,052 | $ | 12,346 | $ | 10,581 | $ | 1,765 | ||||||||||||
| Net income as a % of revenue | 4.2 | % | 3.7 | % | 0.5 | % | 3.7 | % | 3.4 | % | 0.3 | % | ||||||||||||
| EBITDA as a % of revenue | 10.8 | % | 10.2 | % | 0.6 | % | 10.3 | % | 9.9 | % | 0.4 | % | ||||||||||||
| Revenue | $ | 61,506 | $ | 54,798 | $ | 6,708 | $ | 119,358 | $ | 107,036 | $ | 12,322 | ||||||||||||
Artificial Intelligence
Clinical Trials Matching Software Market Projected to Reach $832.56 million by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 18, 2024 /PRNewswire/ — The report titled “Clinical Trials Matching Software Market by Functionality (Analytics & Reporting, Compliance Tracking, Data Management), Deployment (Cloud & Web Based, On-Premise), End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $342.20 million in 2023 to reach $832.56 million by 2030, at a CAGR of 13.54% over the forecast period.
“The Global Surge in Adoption of Matching Software for Enhanced Participant Enrollment”
Clinical trials matching software stands at the forefront of revolutionizing clinical research by automating the process of identifying and enrolling eligible participants. These platforms offer a streamlined approach to match patient health profiles with trial requirements, accelerating enrollment and supporting the shift toward personalized healthcare using these advanced AI and ML technologies. Although integrating these systems poses challenges due to variations in healthcare IT infrastructure and the imperative for rigorous data security, the potential for market growth is substantial. In the Americas, a robust clinical trials ecosystem thrives; in the European Union, it has unified regulatory standards and extended to emerging regions such as the Middle East, Africa, and the APAC countries; the demand for such innovative solutions is on a steep rise. This demand is fueled by governmental support, the evolving regulatory landscape, and strategic partnerships to embed these solutions within electronic health records, underscoring a global movement toward optimizing clinical trial processes to better cater to specific patient demographics.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
“The Rise of Virtual Trials and Advanced Matching Software”
The healthcare landscape is witnessing a transformative shift toward virtual clinical trials, fueled by technological advancements and the necessity for continuity during the COVID-19 pandemic. This transition supports research amid social distancing measures and introduces significant cost savings by reducing the need for physical infrastructure and in-person interactions. The efficiencies brought by electronic health records (EHR), wearable technologies, and automation streamline the entire process, from patient recruitment to data analysis. Several approaches, endorsed by regulatory bodies such as the FDA, represent a leap forward in making clinical trials more accessible and streamlined, ensuring that more patients can participate in potentially life-saving research without the geographical and logistic constraints of traditional trials.
“Enhancing Clinical Trials through Advanced Analytics, Rigorous Compliance, and Precision-Patient Matching”
Integrating advanced analytics, meticulous compliance monitoring, and precision-patient matching marks a significant advancement toward maximizing efficiency and fostering trial diversity. The software delivers insightful data on trial progress, participant demographics, and enrollment figures, empowering stakeholders to make well-informed decisions and optimize resource distribution to meet trial goals effectively by implementing cutting-edge analytics. The built-in compliance feature ensures trials are conducted in strict adherence to regulatory standards, minimizing risks associated with non-compliance. Furthermore, a robust data management system guarantees the integrity and availability of clinical trial data, which is critical for the seamless operation and real-time analysis of trials. The software includes state-of-the-art patient matching technology, which employs sophisticated algorithms and artificial intelligence to expedite recruitment by accurately identifying candidates who match specific trial requirements. This innovative approach accelerates the recruitment timeline and enhances the diversification of trial participants, paving the way for more inclusive and representative clinical research outcomes.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
“Medidata by Dassault Systèmes SE at the Forefront of Clinical Trials Matching Software Market with a Strong 11.30% Market Share”
The key players in the Clinical Trials Matching Software Market include International Business Machines Corporation, Science 37, Inc. by eMed, LLC, Medidata by Dassault Systèmes SE, AutoCruitment LLC, Deep 6 AI Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Clinical Trials Matching Software Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Clinical Trials Matching Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Clinical Trials Matching Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/clinical-trials-matching-software
“Dive into the Clinical Trials Matching Software Market Landscape: Explore 190 Pages of Insights, 286 Tables, and 22 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsClinical Trials Matching Software Market, by FunctionalityClinical Trials Matching Software Market, by DeploymentClinical Trials Matching Software Market, by End-UseAmericas Clinical Trials Matching Software MarketAsia-Pacific Clinical Trials Matching Software MarketEurope, Middle East & Africa Clinical Trials Matching Software MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/clinical-trials-matching-software
Related Reports:
Clinical Trial Support Services Market – Global Forecast 2024-2030Virtual Clinical Trials Market – Global Forecast 2024-2030Clinical Trials Management System Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
Logo – https://mma.prnewswire.com/media/2359256/360iResearch_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/clinical-trials-matching-software-market-projected-to-reach-832-56-million-by-2030—exclusive-report-by-360iresearch-302119709.html
BOSTON, April 18, 2024 /PRNewswire/ — The RepTrak™ Company, the world’s leading reputation data and insights company, released its annual Global RepTrak 100 report. Utilizing its advanced reputation monitoring software, RepTrak gathered data from more than 243,000 survey responses across 14 major economies to rank the world’s 100 most reputable companies. They share that ranking alongside a full analysis of global corporate reputation trends and corresponding public sentiment in the 2024 report.
After two years of consecutive Reputation Score declines, this year’s Score is back up with an increase from 73.2 in 2023 to 73.8 in 2024. It’s a small increase after 2023’s full one-point drop. However, it’s an encouraging sign that companies have begun to recover from reputation falls driven by many challenges: macroeconomic issues, workplace difficulties, product problems, and corporate responsibility skepticism.
“This year’s report underscores a pivotal shift in the corporate landscape, spotlighting the remarkable adaptability and dedication of the Top 100 companies in responding to the dynamic needs of stakeholders,” states RepTrak CEO Mark Sonders. “The companies featured in our report are not just riding the wave of change; they are the ones steering it, proving that the best approach to business is one that embraces evolution and champions progress.”
RepTrak’s report explores how people thought, felt, and acted toward companies over the past year. Findings include notable increases in Conduct and Citizenship efforts, stakeholders’ rising willingness to invest, culturally resonant brand communications, and ESG Scores that soared despite skepticism around the acronym.
To read the full 2024 Global RepTrak 100 report, please visit: www.reptrak.com/globalreptrak
About RepTrak
The RepTrak™ Company is the world’s leading reputation data and insights company. We help companies by organizing and grading a variety of reputational elements, offering a real-world report card on their corporate reputation. Subscribers to the RepTrak program use our predictive insights to protect business value, improve return on investment, and increase their positive impact on society. RepTrak’s pairing of advanced metrics and dedicated reputation advisors offers clients an actionable analysis of their reputation data, aligning business objectives with stakeholder sentiment across different markets and sectors.
Established in 2004, The RepTrak Company owns the world’s largest reputation benchmarking database, gathering over 1 million company ratings per year used by CEOs, boards, and executives in more than 60 countries worldwide. For more information, please visit: www.reptrak.com
Logo – https://mma.prnewswire.com/media/2391550/RepTrak_Logo_Logo.jpg
Photo – https://mma.prnewswire.com/media/2391551/2024_GRT_Spreads__Instagram_Post.jpg
View original content:https://www.prnewswire.co.uk/news-releases/reptrak-announces-2024-global-reptrak-100-report-302121513.html
Artificial Intelligence
Group-IB takes part in a global operation to cripple Canadian Phishing-as-a-Service provider LabHost
SINGAPORE, April 18, 2024 /PRNewswire/ — Group-IB, a leading cybersecurity company aimed at investigating, preventing, and fight digital crime announced today that it participated in a coordinated global takedown operation against prominent Canadian Phishing-as-a-Service (PhaaS) provider LabHost, which has led to the arrest of 37 suspects across the United Kingdom and around the world by law enforcement agencies. As part of the operation, Group-IB also conducted an extensive analysis of LabHost’s criminal history and infrastructure, including insights into LabHost’s administrative platform and the services it provides to its purported user base which exceeds 2,000 subscribers worldwide, who illegally obtained around 480,000 card numbers, 64,000 pin numbers, and over 1 million passwords from victims used for websites and other online services, according to law enforcement agencies.
“By leveraging our Threat Intelligence and Digital Risk Protection, we are able to identify and monitor phishing attacks and websites like those deployed by LabHost and its subscribers around the world, enabling us to actively alert and protect our customers, and in turn, their customers as well,” said Dmitry Volkov, Chief Executive Officer of Group-IB. “Today’s takedown operation demonstrates the agility and responsiveness of our decentralized Digital Crime Resistance Centers, and how quickly we can provide immediate and local assistance wherever our customers may be.”
First uncovered in late 2021, LabHost emerged as a fully automated Phishing-as-a-Service (PhaaS) platform, streamlining the creation of phishing websites meticulously mirroring the interface and functionality of prominent banking, postal, and financial entities, aimed at intercepting, seizing, and profiting from users’ personal, credit card, and online banking credentials. Users are prompted to select from various “membership plans,” tailored to target businesses and individuals in either the United States and Canada, or globally, akin to mobile subscription models. These plans encompass “standard,” “premium,” and “world membership” tiers, priced between US$179 and US$300 monthly, with options for monthly, quarterly, or annual billing cycles.
For media inquiries, please contact [email protected]
Photo – https://mma.prnewswire.com/media/2391017/Group_IB.jpgPhoto – https://mma.prnewswire.com/media/2391018/Group_IB_2.jpgLogo – https://mma.prnewswire.com/media/1853638/4657466/Group_IB_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/group-ib-takes-part-in-a-global-operation-to-cripple-canadian-phishing-as-a-service-provider-labhost-302121388.html
-
Artificial Intelligence7 days agoIn-Depth Analysis of Germany and France Data Center Markets: Germany Poised to Contribute Over $12.24 Billion Opportunities in the Next 6 Years – Arizton
-
Artificial Intelligence7 days agoCogX Festival Set to Debut in Los Angeles at Century Plaza on May 7th, 2024
-
Uncategorized7 days agoDFI Amplifies AI Capability for the Thriving EV Market and Beyond
-
Uncategorized7 days ago
DFI’s Latest Compact Industrial Computer Equipped with AI Acceleration Module
-
Artificial Intelligence4 days agoSilent Eight secures AIA as its latest client
-
Artificial Intelligence4 days agoGlobal Networking Innovator Huawei Leads the New Era of Campus Network Technology
-
Artificial Intelligence2 days agoHuawei Introduces AI Technologies to Accelerate Network Transformation Towards All Intelligence in the Net5.5G Era
-
Artificial Intelligence4 days agoBroadcom Earns Frost & Sullivan’s 2024 Global Company of the Year Award for Delivering Reliable and Flexible Hybrid Cloud Management Solutions
