Artificial Intelligence
Lantheus Holdings, Inc. Reports Third Quarter 2021 Financial Results
- Worldwide revenue of $102.1 million for the third quarter 2021, representing an increase of 15.3% from the prior year period
- GAAP net loss of $13.4 million for the third quarter 2021, compared to GAAP net loss of $6.4 million in the prior year period
- GAAP fully diluted net loss of $0.20 for the third quarter 2021, compared to GAAP fully diluted net loss of $0.10 in the prior year period; adjusted fully diluted EPS of $0.08 for the third quarter 2021, compared to adjusted fully diluted EPS of $0.04 in the prior year period
- Net cash provided by operating activities was $4.3 million for the third quarter 2021. Free cash flow was $1.9 million in the third quarter 2021
- The Company reported that, following an interim analysis of the ongoing ARROW Phase 2 study of 1095, a PSMA-targeted therapeutic, in metastatic castration resistant prostate cancer patients, the Independent Data Monitoring Committee recommended the study continue without modifications
- The Company provides fourth quarter 2021 revenue and adjusted diluted earnings per share guidance; increases full year guidance
NORTH BILLERICA, Mass., Nov. 04, 2021 (GLOBE NEWSWIRE) — Lantheus Holdings, Inc. (NASDAQ: LNTH) (Lantheus), an established leader and fully integrated provider committed to innovative imaging diagnostics, targeted therapeutics and artificial intelligence solutions to find, fight and follow serious medical conditions, today reported financial results for its third quarter ended September 30, 2021.
The Company’s worldwide revenue for the third quarter of 2021 totaled $102.1 million, compared with $88.5 million for the third quarter of 2020, representing an increase of 15.3% from the prior year period.
The Company’s third quarter 2021 GAAP net loss was $13.4 million, or $0.20 per fully diluted share, as compared to GAAP net loss of $6.4 million, or $0.10 per fully diluted share for the third quarter of 2020.
The Company’s third quarter 2021 adjusted fully diluted earnings per share were $0.08, as compared to $0.04 for the third quarter of 2020, representing an increase of 127.4% from the prior year period.
Lastly, net cash provided by operating activities was $4.3 million for the third quarter 2021. Free Cash Flow was $1.9 million in the third quarter of 2021, representing a decrease of approximately $2.9 million from the prior year period.
“We delivered a strong quarter, with revenue up 15% year-over-year, highlighted by the robust adoption of PYLARIFY, the first and only commercially available PSMA PET imaging agent,” said Mary Anne Heino, President and CEO. “Although COVID-19 continued to impact some aspects of our business, we were able to grow our three largest products – DEFINITY, TechneLite and PYLARIFY. We look forward to driving sustainable growth across our portfolio of diagnostic and therapeutic solutions as we find, fight and follow diseases to deliver better patient outcomes.”
“We are pleased with the first full quarter of PYLARIFY sales and continue to invest in our commercial launch, including in manufacturing capacity, to meet the increasing demand for this game changing product. We completed the build-out of our commercial infrastructure, which represents the industry’s largest PSMA PET-dedicated sales and market access teams,” said Paul Blanchfield, Chief Commercial Officer. “We remain focused on fostering customer adoption and expanding our geographic and market access coverage in service of our customers and the U.S. Prostate Cancer community.”
Outlook
The Company updates its guidance for full year 2021 and offers the following guidance for the fourth quarter.
Q4 Guidance Issued November 4, 2021 | Previous Guidance Issued July 28, 2021 | |||
Q4 FY 2021 Revenue | $110 million – $115 million | N/A | ||
Q4 FY 2021 Adjusted Diluted EPS | $0.15 – $0.18 | N/A | ||
FY Guidance Updated November 4, 2021 | FY Guidance Issued July 28, 2021 | |||
FY 2021 Revenue | $405 million – $410 million | $395 million – $402 million | ||
FY 2021 Adjusted Diluted EPS | $0.40 – $0.43 | $0.38 – $0.42 |
On a forward-looking basis, the Company does not provide GAAP income per common share guidance or a reconciliation of adjusted fully diluted EPS to GAAP income per common share because the Company is unable to predict with reasonable certainty business development and acquisition related expenses, purchase accounting fair value adjustments (including liability accruals relating to the contingent value rights issued as part of the Progenics Pharmaceuticals, Inc. acquisition), and any one-time, non-recurring charges. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. As a result, it is the Company’s view that a quantitative reconciliation of adjusted fully diluted EPS on a forward-looking basis is not available without unreasonable effort.
Internet Posting of Information
The Company routinely posts information that may be important to investors in the “Investors” section of its website at www.lantheus.com. The Company encourages investors and potential investors to consult its website regularly for important information about the Company.
Conference Call and Webcast
As previously announced, the Company will host a conference call and webcast on Thursday, November 4, 2021 at 8:00 a.m. ET. To access the live conference call via telephone, please dial 1-866-498-8390 (U.S. callers) or 1-678-509-7599 (international callers) and provide passcode 6775813. A live webcast will be available in the Investors section of the Company’s website at www.lantheus.com.
A replay of the audio webcast will be available in the Investors section of our website at www.lantheus.com approximately two hours after completion of the call and will be archived for 30 days.
The conference call will include a discussion of non-GAAP financial measures. Reference is made to the most directly comparable GAAP financial measures, the reconciliation of the differences between the two financial measures, and the other information included in this press release, our Form 8-K filed with the SEC today, or otherwise available in the Investor Relations section of our website located at www.lantheus.com.
The conference call may include forward-looking statements. See the cautionary information about forward-looking statements in the safe-harbor section of this press release.
About Lantheus Holdings, Inc.
Lantheus Holdings, Inc. is the parent company of Lantheus Medical Imaging, Inc., Progenics Pharmaceuticals, Inc. and EXINI Diagnostics AB and an established leader and fully integrated provider committed to innovative imaging diagnostics, targeted therapeutics and artificial intelligence solutions to Find Fight and Follow® serious medical conditions. Lantheus provides a broad portfolio of products, including the echocardiography agent DEFINITY® Vial for (Perflutren Lipid Microsphere) Injectable Suspension; PYLARIFY®, a PSMA PET imaging agent for the detection of suspected recurrent or metastatic prostate cancer; TechneLite® (Technetium Tc99m Generator), a technetium-based generator that provides the essential medical isotope used in nuclear medicine procedures; AZEDRA® for the treatment of certain rare neuroendocrine tumors; and RELISTOR® for the treatment of opioid-induced constipation, which is partnered with Bausch Health Companies, Inc. The Company is headquartered in North Billerica, Massachusetts with offices in New York, New Jersey, Canada and Sweden. For more information, visit www.lantheus.com.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures, such as adjusted net income and its line components; adjusted net income per share – fully diluted; and free cash flow. The Company’s management believes that the presentation of these measures provides useful information to investors. These measures may assist investors in evaluating the Company’s operations, period over period. However, these measures may exclude items that may be highly variable, difficult to predict and of a size that could have a substantial impact on the Company’s reported results of operations for a particular period. Management uses these and other non-GAAP measures internally for evaluation of the performance of the business, including the allocation of resources and the evaluation of results relative to employee performance compensation targets. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP.
Safe Harbor for Forward-Looking and Cautionary Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by their use of terms such as “believe,” “could,” “estimate,” “expect,” “look forward to,” “may,” “plan,” “predict,” “target,” “will,” and other similar terms. Such forward-looking statements are based upon current plans, estimates and expectations that are subject to risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements include: (i) the impact of the global COVID-19 pandemic on our business, financial conditions and prospects; (ii) continued market expansion and penetration for our commercial products, particularly DEFINITY, in the face of segment competition and potential generic competition, including as a result of patent and regulatory exclusivity expirations; (iii) our ability to successfully launch PYLARIFY as a commercial product, including (A) our ability to obtain U.S. Food and Drug Administration approval for additional PET manufacturing facilities (“PMFs”) that could manufacture PYLARIFY, (B) the ability of those PMFs to supply PYLARIFY to customers, and (C) our ability to sell PYLARIFY to customers; (iv) the global Molybdenum-99 supply; (v) our products manufactured at Jubilant HollisterStier and our modified formulation of DEFINITY (“DEFINITY RT”) to be commercially manufactured at Samsung Biologics, including our ability to renew, modify or replace those agreements as may be necessary; (vi) the continued integration of the Progenics products and product candidate portfolio into our business following the Progenics Acquisition; (vii) our ability to use in-house manufacturing capacity; (viii) our ability to successfully launch aPROMISE, also referred to as PYLARIFY AI, as a commercial product; (ix) the potential reclassification by the FDA of certain of our products and product candidates from drugs to devices with the expense, complexity and potentially more limited competitive protection such reclassification could cause; (x) the efforts and timing for clinical development of our product candidates and new clinical applications for our products, in each case, that we or our strategic partners may develop, including 1095 and flurpiridaz F 18; (xi) our ability to develop highly contextualized assessments of disease burden using artificial intelligence (“AI”); and (xii) the risk and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in the Risk Factors section in our Annual Reports on Form 10-K and our Quarterly Reports on Form 10-Q).
Lantheus Holdings, Inc.
Consolidated Statements of Operations
(in thousands, except per share data – unaudited)
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||
Revenues | $ | 102,073 | $ | 88,544 | $ | 295,646 | $ | 245,258 | ||||||||||||
Cost of goods sold | 59,404 | 52,284 | 165,859 | 145,148 | ||||||||||||||||
Gross profit | 42,669 | 36,260 | 129,787 | 100,110 | ||||||||||||||||
Operating expenses | ||||||||||||||||||||
Sales and marketing | 17,195 | 11,609 | 48,999 | 28,044 | ||||||||||||||||
General and administrative | 28,550 | 18,217 | 87,865 | 55,586 | ||||||||||||||||
Research and development | 11,252 | 11,684 | 33,673 | 20,150 | ||||||||||||||||
Total operating expenses | 56,997 | 41,510 | 170,537 | 103,780 | ||||||||||||||||
Gain on sale of assets | — | — | 15,263 | — | ||||||||||||||||
Operating loss | (14,328 | ) | (5,250 | ) | (25,487 | ) | (3,670 | ) | ||||||||||||
Interest expense | 1,569 | 2,808 | 6,224 | 6,668 | ||||||||||||||||
Gain on extinguishment of debt | — | — | (889 | ) | — | |||||||||||||||
Other loss (income) | 3,940 | (596 | ) | 3,209 | (1,702 | ) | ||||||||||||||
Loss before income taxes | (19,837 | ) | (7,462 | ) | (34,031 | ) | (8,636 | ) | ||||||||||||
Income tax (benefit) expense | (6,422 | ) | (1,076 | ) | (2,967 | ) | 1,425 | |||||||||||||
Net loss | $ | (13,415 | ) | $ | (6,386 | ) | $ | (31,064 | ) | $ | (10,061 | ) | ||||||||
Net loss per common share: | ||||||||||||||||||||
Basic | $ | (0.20 | ) | $ | (0.10 | ) | $ | (0.46 | ) | $ | (0.20 | ) | ||||||||
Diluted | $ | (0.20 | ) | $ | (0.10 | ) | $ | (0.46 | ) | $ | (0.20 | ) | ||||||||
Weighted-average common shares outstanding: | ||||||||||||||||||||
Basic | 67,623 | 66,820 | 67,409 | 49,858 | ||||||||||||||||
Diluted | 67,623 | 66,820 | 67,409 | 49,858 |
Lantheus Holdings, Inc.
Consolidated Revenues Analysis
(in thousands – unaudited)
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||||||||||
2021 | 2020 (1) | % Change | 2021 | 2020 (1) | % Change | |||||||||||||||||||
DEFINITY | $ | 57,636 | $ | 50,359 | 14.5 | % | $ | 173,448 | $ | 139,989 | 23.9 | % | ||||||||||||
TechneLite | 22,680 | 21,113 | 7.4 | % | 69,252 | 62,560 | 10.7 | % | ||||||||||||||||
Other precision diagnostics | 7,563 | 8,585 | (11.9 | ) | % | 21,289 | 28,782 | (26.0 | ) | % | ||||||||||||||
Total precision diagnostics | 87,879 | 80,057 | 9.8 | % | 263,989 | 231,331 | 14.1 | % | ||||||||||||||||
Radiopharmaceutical oncology | 8,890 | 3,323 | 167.5 | % | 13,203 | 7,474 | 76.7 | % | ||||||||||||||||
Strategic partnerships and other | 5,304 | 5,164 | 2.7 | % | 18,454 | 6,453 | 186.0 | % | ||||||||||||||||
Total revenues | $ | 102,073 | $ | 88,544 | 15.3 | % | $ | 295,646 | $ | 245,258 | 20.5 | % |
- The Company reclassified rebates and allowances of $5.5 million and $13.8 million within each product category, which included $5.1 million and $12.6 million for DEFINITY, $0.3 million and $0.9 million for TechneLite and $0.1 million and $0.2 million for other precision diagnostics, for the three and nine months ended September 30, 2020, respectively.
Lantheus Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures
(in thousands, except per share data – unaudited)
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||
Net loss | $ | (13,415 | ) | $ | (6,386 | ) | $ | (31,064 | ) | $ | (10,061 | ) | ||||||||
Stock and incentive plan compensation | 3,867 | 3,992 | 11,772 | 10,452 | ||||||||||||||||
Amortization of acquired intangible assets | 8,374 | 4,768 | 19,133 | 6,087 | ||||||||||||||||
Acquired debt fair value adjustment | — | (385 | ) | (307 | ) | (385 | ) | |||||||||||||
Contingent consideration fair value adjustments | 2,600 | 800 | 28,500 | 800 | ||||||||||||||||
Non-recurring refinancing related fees | — | — | — | 460 | ||||||||||||||||
Non-recurring severance related fees | (6 | ) | — | 522 | — | |||||||||||||||
Extinguishment of debt | — | — | (889 | ) | — | |||||||||||||||
Gain on sale of assets | — | — | (15,263 | ) | — | |||||||||||||||
Integration costs | 63 | 855 | 93 | 4,428 | ||||||||||||||||
Acquisition-related costs | 62 | 1,593 | 726 | 10,522 | ||||||||||||||||
Impairment of long-lived assets | 9,540 | — | 9,540 | 7,275 | ||||||||||||||||
Other | 7 | — | 60 | (75 | ) | |||||||||||||||
Income tax effect of non-GAAP adjustments(a) | (5,411 | ) | (2,819 | ) | (6,059 | ) | (8,265 | ) | ||||||||||||
Adjusted net income | $ | 5,681 | $ | 2,418 | $ | 16,764 | $ | 21,238 | ||||||||||||
Adjusted net income, as a percentage of revenues | 5.6 | % | 2.7 | % | 5.7 | % | 8.7 | % |
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||
Net loss per share – diluted | $ | (0.20 | ) | $ | (0.10 | ) | $ | (0.46 | ) | $ | (0.20 | ) | ||||||||
Stock and incentive plan compensation | 0.05 | 0.06 | 0.18 | 0.21 | ||||||||||||||||
Amortization of acquired intangible assets | 0.12 | 0.08 | 0.28 | 0.12 | ||||||||||||||||
Acquired debt fair value adjustment | — | (0.01 | ) | (0.01 | ) | (0.01 | ) | |||||||||||||
Contingent consideration fair value adjustments | 0.04 | 0.01 | 0.42 | 0.01 | ||||||||||||||||
Non-recurring refinancing related fees | — | — | — | 0.01 | ||||||||||||||||
Non-recurring severance related fees | — | — | 0.01 | — | ||||||||||||||||
Extinguishment of debt | — | — | (0.01 | ) | — | |||||||||||||||
Gain on sale of assets | — | — | (0.23 | ) | — | |||||||||||||||
Integration costs | — | 0.01 | — | 0.09 | ||||||||||||||||
Acquisition-related costs | 0.01 | 0.02 | 0.01 | 0.21 | ||||||||||||||||
Impairment of long-lived assets | 0.14 | — | 0.14 | 0.14 | ||||||||||||||||
Other | — | — | — | — | ||||||||||||||||
Income tax effect of non-GAAP adjustments(a) | (0.08 | ) | (0.03 | ) | (0.09 | ) | (0.16 | ) | ||||||||||||
Adjusted net income per share – diluted | $ | 0.08 | $ | 0.04 | $ | 0.24 | $ | 0.42 | ||||||||||||
Weighted-average common shares outstanding – diluted | 69,237 | 67,006 | 68,674 | 50,210 |
(a) The income tax effect of the adjustments between GAAP net loss and non-GAAP adjusted net income takes into account the tax treatment and related tax rate that apply to each adjustment in the applicable tax jurisdiction.
Lantheus Holdings, Inc.
Reconciliation of Free Cash Flow
(in thousands – unaudited)
Three Months Ended September 30, |
Nine Months Ended September 30, |
||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||
Net cash provided by operating activities | $ | 4,340 | $ | 8,575 | $ | 40,027 | $ | 15,827 | |||||||||||
Capital expenditures | (2,420 | ) | (3,736 | ) | (7,596 | ) | (8,689 | ) | |||||||||||
Free cash flow | $ | 1,920 | $ | 4,839 | $ | 32,431 | $ | 7,138 | |||||||||||
Net cash (used in) provided by investing activities | $ | (2,420 | ) | $ | (3,736 | ) | $ | 8,227 | $ | (1,127 | ) | ||||||||
Net cash used in financing activities | $ | (1,726 | ) | $ | (7,270 | ) | $ | (37,232 | ) | $ | (17,488 | ) |
Lantheus Holdings, Inc.
Condensed Consolidated Balance Sheets
(in thousands – unaudited)
September 30, 2021 |
December 31, 2020 |
||||||
Assets | |||||||
Current assets | |||||||
Cash and cash equivalents | $ | 91,475 | $ | 79,612 | |||
Accounts receivable, net | 64,054 | 54,002 | |||||
Inventory | 33,949 | 35,744 | |||||
Other current assets | 12,043 | 9,625 | |||||
Assets held for sale | — | 5,242 | |||||
Total current assets | 201,521 | 184,225 | |||||
Property, plant and equipment, net | 116,441 | 120,171 | |||||
Intangibles, net | 356,883 | 376,012 | |||||
Goodwill | 61,189 | 58,632 | |||||
Deferred tax assets, net | 66,493 | 70,147 | |||||
Other long-term assets | 45,289 | 60,634 | |||||
Total assets | $ | 847,816 | $ | 869,821 | |||
Liabilities and stockholders’ equity | |||||||
Current liabilities | |||||||
Current portion of long-term debt and other borrowings | $ | 10,356 | $ | 20,701 | |||
Accounts payable | 20,508 | 16,284 | |||||
Accrued expenses and other liabilities | 46,039 | 41,726 | |||||
Liabilities held for sale | — | 1,793 | |||||
Total current liabilities | 76,903 | 80,504 | |||||
Asset retirement obligations | 15,185 | 14,020 | |||||
Long-term debt, net and other borrowings | 166,741 | 197,699 | |||||
Other long-term liabilities | 89,643 | 63,393 | |||||
Total liabilities | 348,472 | 355,616 | |||||
Total stockholders’ equity | 499,344 | 514,205 | |||||
Total liabilities and stockholders’ equity | $ | 847,816 | $ | 869,821 |
Contacts:
Mark Kinarney
Senior Director, Investor Relations
978-671-8842
[email protected]
Melissa Downs
Director, Corporate Communications
646-975-2533
[email protected]
Artificial Intelligence
Synthetik Applied Technologies LLC announces development of UrbanScale – a modeling platform for the prediction, characterization, and quantification of extreme urban heat
AUSTIN, Texas and LONDON, April 30, 2024 /PRNewswire/ — Synthetik Applied Technologies announces the development of UrbanScale, a tool to model and predict effects of extreme heat in urban areas, through a project funded by the National Oceanic and Atmospheric Association (NOAA). The physical characteristics of urban areas amplify heat effects resulting in what are known as urban heat islands — areas where surface temperatures are much higher than their surroundings. The UrbanScale tool addresses this climate peril with sophisticated analytic tools based on physics informed neural networks and cutting-edge machine learning to predict urban heat and help better understand and mitigate the risks associated with these extreme heat events. As a result of climate change, these events are expected to increase, impacting both the people that live in urban areas and the infrastructure on which they depend.
The UrbanScale platform shows significant promise to provide data on the severity of heat islands and their effects to better understand how they impact human health, energy use and damage to physical infrastructure. This information will provide a step-change in capability for government agencies, urban planners, and transportation authorities to direct efforts for mitigation and intervention. In particular, inclusion of demographic information into data pipelines will allow understanding of how urban heat effects may impact vulnerable or disadvantaged populations. Integration with climate forecasts and models will also provide unprecedented capabilities for forecasting risk associated with climate change.
Josh Hatfield, Director of Research and Development at Synthetik, said:
‘We are extremely grateful for the opportunity to study such an important issue. Extreme heat is already the largest cause of weather-related fatalities in the US, and climate change will only increase the importance of understanding heat in urban environments. Helping to meet that challenge fits directly into Synthetik’s mission.’
Synthetik COO Tim Brewer commented:
‘The UrbanScale tool will allow both our government and insurance partners to better characterize the risk of extreme heat in urban centers and promises to deliver critical insight on the way these events impact energy demands. We look forward to exploring its wide-ranging applications.’
Synthetik plans further development of UrbanScale with NOAA and other partners in the public and private sector.
For all inquiries: Contact Synthetik Applied Technologies PR [email protected]
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Artificial Intelligence
GLiNTECH – a Valiantys company, wins Atlassian Partner of the Year 2023 Services (APAC) award. Valiantys and GLiNTECH declared Finalists for Team Excellence and ITSM Solutions
PARIS, April 30, 2024 /PRNewswire/ — Atlassian announced today that GLiNTECH – a Valiantys company has won the Atlassian Partner of the Year 2023 Services (APAC) award. Valiantys and GLiNTECH were further declared finalists for the Team Excellence and ITSM Solutions awards, respectively.
This is an acknowledgement of their outstanding work for Atlassian customers during the calendar year 2023. This includes exceptional efforts in developing new business and driving innovative solutions for customer success.
“Our industry leading partners play a vital role in our customers’ continued success. We’re honored to highlight our top partners as award finalists this year, reflecting their ongoing commitment to delivering innovative solutions and unparalleled Atlassian services globally,” said Ko Mistry, Atlassian’s Head of Global Channels.
“We are delighted to be named as finalists for these awards from Atlassian, and we are particularly proud to celebrate GLiNTECH’s achievement in winning the Services (APAC) award.” said Emmanuel Benoit, Global Chief Executive Officer, Valiantys. “At Valiantys, embracing diversity of thought and challenging the ways our teams work has always provided Valiantys with a competitive edge to consistently deliver tangible results and value. We look to the future with unwavering determination and confidence as we continue to drive innovation and unlock potential for our customers around the globe.”
“We dedicate our IT Consulting Services and Custom Solutions to fulfilling our customers’ needs for success,” commented Dimitri Spyridopoulos, Chief Executive Officer GLiNTECH – a Valiantys company. “It’s an honor to be recognized by Atlassian as a finalist in two categories that reflect these efforts: Services and ITSM Solutions, and to be declared as winner for the Services award (APAC).”
For more information regarding this Press Release, contact: [email protected]
About Valiantys
Valiantys is a leading global consulting and services firm dedicated to Atlassian. The company accelerates business transformation by digitizing processes and modernizing teamwork, using the best agile methods and tools. Its Atlassian technical expertise is unparalleled and Valiantys supports its customers across the entire spectrum of projects on those platforms. As a recognized Agile at Scale, ITSM, and Cloud Specialized Partner, Valiantys help organizations accelerate time to value with Agile at scale, cloud, and ITSM implementations. Because teamwork requires more than just tools, the firm bridges the gap between applications and strategic practices such as SAFe® and ITIL. Over the last 15 years, Valiantys has helped more than 5,000 customers achieve their desired business outcomes at a reduced time to value, through improved team collaboration. More information about Valiantys can be found at https://www.valiantys.com/
About GLiNTECH – a Valiantys Company
GLiNTECH is a renowned Atlassian Platinum Partner headquartered in Australia and is the preferred choice for over 300 leading brands. The company has amassed more than 20 years of experience servicing enterprise clients across the Asia Pacific region, earning Atlassian Partner of the Year five times, including most recently for Professional Services. GLiNTECH is recognized as a Specialized Atlassian Cloud and ITSM partner. The company offers deep expertise in Licensing, Training, Support, Managed Services, Consulting, and Agile methodologies and has a proven record in providing reliable solutions while driving success within the Atlassian ecosystem. More information about GLiNTECH can be found here: https://www.glintech.com/
GLiNTECH was acquired by Valiantys in February 2024.
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Artificial Intelligence
Nillion is pleased to announce that Dwinity, a team pioneering decentralized AI has joined as an ecosystem partner
ZUG, Switzerland and MUNICH, April 30, 2024 /PRNewswire/ — With huge amounts of personal data being collected every day, privacy concerns are escalating as the impact of data breaches become more costly. The need to address the problems created by the existing data economy have never been greater. By empowering users to reclaim control, Dwinity aims to unlock an enormous amount of potential for personal data to enhance various industries like healthcare, insurance, and finance.
About Dwinity
Dwinity’s mission is to give power back to users and to create a thriving data economy in which information asymmetry is finally removed. Dwinity enables a decentralized data economy as well as creates a data ownership driven ecosystem for storage, analysis, exchange, and commercialization of sensitive personal data.
The three components of Dwinity are:
Data control: Decentralized data spaces for decentralized data storage which provides true data sovereignty and enables users to decide with whom data is shared.Data Gold: Decentralized AI tools for each data space have the capability to unlock the full potential of data via sophisticated analysis.Data Cash: A fair marketplace with automated data value analysis, allowing for tangible income for data owners at lower costs and completely anonymous.Dwinity is presently closing its initial seed round at USD 3 MN – funds which will be used for the development of the initial prototypes to hit the market already in 2024.
About Nillion
Nillion is humanity’s first Blind Computer. It is powered by a decentralized network of nodes that enables “Blind Computation” through the coordination and orchestration of privacy enhancing technologies (PETs) such as multi-party computation (MPC), fully homomorphic encryption (FHE) and zero-knowledge proofs (ZKP). Nillion believes Blind Computation will become the internet’s base layer for all private data as PETs continue to mature. Nillion has attracted a notable initial cohort of Blind Computation builders across AI, DeFi, medical data, custody, wallets, global identity, messaging and more.
The Nillion development company, Nilogy, was incubated by CoinList’s seed program. Nilogy’s Founding CTO was the Founding Engineer of Uber (Conrad Whelan), the Chief Strategy Officer was the Founding CMO of Hedera Hashgraph (Andrew Masanto), the Chief Business Officer is the Founder of Indiegogo (Slava Rubin), the General Counsel was the Associate General Counsel of Coinbase (Lindsay Danas Cohen), along with builders hailing from Consensys, LayerZero, Polygon and Google.
“This is a major step on our way to building the leading ecosystem for sensitive data together with one of the top players in the market for the handling of such valuable data. We are looking forward to the cooperation which will add significant trust and competence to both initiatives”, said Peter Koenig, CEO of Dwinity.
Picture is available at AP
Contact for this publication: Christian Mangold [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/nillion-is-pleased-to-announce-that-dwinity-a-team-pioneering-decentralized-ai-has-joined-as-an-ecosystem-partner-302131972.html
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