Artificial Intelligence
Semantix Announces 3Q 2022 Financial Results
SÃO PAULO, Brazil, Nov. 29, 2022 (GLOBE NEWSWIRE) — Semantix, Inc. (NASDAQ: STIX), a leading Latin American end-to-end data platform provider, today announced its financial results for the third quarter ended September 30, 2022.
“I am thrilled to see continued momentum in our business and announce record net revenue for the third quarter of 2022. We are strengthening our team, improving our go-to-market motion, and focusing on our customers’ core data analytics & AI journeys. Despite challenges in the global macroeconomic environment, we remain ambitious in our ability to capture opportunities in front of us,” said Semantix CEO and founder Leonardo Santos.
Financial Highlights
- Net revenue for the third quarter of 2022 was R$81 million, an increase of 7% year-over-year, mainly due to an increase in proprietary SaaS net revenue.
- Semantix had 12 customers contributing more than US$1 million in revenue in the trailing 12 months as of September 30, 2022.
- Proprietary SaaS revenue grew 16% year-over-year, with Proprietary SaaS ARR increasing 21% year-over-year in September 2022 with increased focus on core big data & analytics solutions.
- Gross profit increased 39% year-over-year, with gross margin improving 11 percentage points year-over-year, from 37% in the third quarter of 2021 to 48% in the third quarter of 2022, supported by an increased share of Proprietary SaaS in our revenue mix coupled with better margins from the resale of third-party products.
- Adjusted EBITDA loss in the third quarter was R$7 million, due primarily to ramping-up investments in talent and sales and marketing efforts.
- Cash and cash equivalents of R$532 million as of September 30, 2022, reflecting proceeds from the business combination with Alpha Capital. Net cash was R$354 million as of September 30, 2022.
Key Business Highlights
Set forth below are key highlights in relation to the ongoing execution of our growth strategy, particularly in terms of product development, talent acquisition and other strategic initiatives.
- Product development:
- completed redesign of our proprietary data platform (SDP) with focus on user experience;
- the addition of several ready-to-use AI algorithms to our SDP intended to enhance efficiency for our customers in the execution of certain complex tasks, including, among other new capabilities, tools to extract keywords from text, tag images with visual description, and optimize the distribution of items within online retail stores, among others;
- enabled customers to use Python programming language as part of scheduled data transformation routines within SDP, improving the performance of such routines and bringing SDP closer to the large community of Python developers; and
- empowered customers with multiple new types of data source connectors, such as social media platforms and data cloud storage providers.
- Focus on the core: sharpen focus on portfolio of core AI & data analytics products and discontinue the offering of certain products, such as Smarter Sales and Intelligent Chat. As a result, we are helping our customers to migrate to alternative platforms in the market, as we continue to offer support on AI & data analytics.
- People and leadership: strategically hired José Pizani as Product Director and Fábio Marcolino as Technology Director.
- Thought leadership: hosted the Semantix Data Summit on October 4, 2022, bringing together over 500 participants, including some of the most influential tech professionals from Brazil and abroad.
- Zetta integration: rapid ongoing integration of Zetta, reinforcing a high degree of complementarity and potential for synergy in terms of Zetta product offerings and customers with our existing portfolio and client base.
- Share buyback: on November 29, 2022, Semantix announced a plan to buy back up to US$5 million of its common shares.
3Q22 Financial Highlights
(In BRL million, except for percentages)
| 3Q 2022 | 3Q 2021 | Y/Y Change | |
| Net Revenue | R$ 81 | R$ 75 | 7% |
| Gross Profit | R$ 39 | R$ 28 | 39% |
| Gross Margin | 48% | 37% | 11 p.p. |
| Adjusted EBITDA | (R$ 7) | (R$ 12) | – |
| Adjusted EBITDA Margin | (8%) | (16%) | 8 p.p. |
| September 30, 2022 |
December 31, 2021 |
Change | |
| Cash and Cash Equivalents | R$ 532 | R$ 52 | 921% |
| Net Cash (Debt) | R$ 354 | (R$ 94) | – |
Financial Outlook
Based on current market conditions and management expectations, and subject to a variety of factors described below, Semantix now expects total net revenues for 2022 to be in the range of R$262 million to R$270 million.
Historically, Semantix has received a higher volume of orders from new and existing customers during the second half of the year and, in particular, in the fourth quarter of each year, which we believe is due to, among other factors, the procurement, budgeting, and deployment cycles of many of our customers, particularly large enterprise customers.
Conference Call and Webcast Information
Semantix will host a conference call tomorrow, November 30, 2022, at 8:30 a.m. Eastern Time to discuss its financial results and financial outlook. The conference call will be webcast live on Semantix’s Investor Relations website at ir.semantix.ai/news-events/events. Parties interested in participating via telephone may register using this online form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call. A replay of the conference call webcast will be archived on Semantix’s Investor Relations website for at least 30 days.
Forward-Looking Statements
This press release and the earnings call referencing this press release contain forward-looking statements and forward-looking information within the meaning of applicable United States securities legislation that involve substantial risks and uncertainties (collectively herein referred to as “forward-looking statements”). All statements other than statements of historical facts contained in this press release and addressed on our earnings call, including statements regarding our future financial position, results of operations, business strategy and plans and objectives of management for future operations, are forward-looking statements. For example, forward-looking statements include, without limitation, statements concerning the following: the growth of Semantix’s business and its ability to realize expected results, including with respect to its net revenue, gross profit, gross margin, EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin, cash and cash equivalents and net cash (debt); the viability of its growth strategy, including with respect to its ability to grow market share in Brazil and internationally, particularly through the expansion of its proprietary SaaS data solutions, grow revenue from existing customers, and consummate and achieve expected benefits through acquisitions; opportunities, trends and developments in the data industry, including with respect to future financial performance in the industry; the size of Semantix’s total addressable market; macroeconomic and geopolitical factors, including the consequences of the 2022 presidential election results in Brazil. In some cases, you can identify forward looking statements by terminology such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target,” “trend” or other similar expressions (or the negative versions of such words or expressions).
Such forward-looking statements are based on the current expectations of our management and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements and could adversely affect the outcome and financial effects of the plans and events described herein. In addition, even if the outcome and financial effects of the plans and events described herein are consistent with the forward-looking statements contained in this press release and the earnings call referencing this press release, those results or developments may not be indicative of results or developments in subsequent periods. Although Semantix has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Forward-looking information contained in this press release and the earnings call referencing this press release are based on current estimates, assumptions, expectations and projections, including with respect to the management’s expectations regarding Semantix’s growth based on historical financial results and anticipated commercial developments, the anticipated success of current strategies for market penetration in Brazil and globally in light of competition from existing market participants and the emergence of competitors in the future, management’s expectations with respect to the development of technology and other proprietary intellectual property by Semantix based on existing technological realities and strategies with respect to intellectual property development, management’s expectations regarding the likelihood Semantix will be able to enter into commercial arrangements with relevant third-parties and customers, Semantix’s ability to maintain adequate margins based on financial metrics available to management, the ability of Semantix to finance its ongoing capital needs, the continued involvement of Semantix’s management in Semantix’s operations and the ability of Semantix to attract and retain talent in the future, which are based on the information available as of the date of this press release, and, while considered reasonable by Semantix, are inherently uncertain. Historical statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. In this regard, certain financial information contained herein has been extracted from, or based upon, information available in the public domain and/or provided by Semantix. In particular, historical results should not be taken as a representation that such trends will be replicated in the future. No statement in this document is intended to be nor may be construed as a profit forecast.
Nothing in this press release and the earnings call referencing this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release and the earnings call referencing this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. This press release also contains certain financial forecast information of Semantix. Such financial forecast information constitutes forward-looking information and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive, and other risks and uncertainties. Actual results may differ materially from the results contemplated by the financial forecast information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such forecasts will be achieved. You must make your own determinations as to the reasonableness of these projections, estimates, goals, trends and other statements and should also note that if one or more estimates change, or one or more assumptions are not met, or one or more unexpected events occur, the performance and results set forth in such projections, estimates, goals, trends and other statements may not be achieved. We can give no assurance as to future operations, performance, results or events.
WE DO NOT UNDERTAKE ANY OBLIGATION AND EXPRESSLY DISCLAIM ANY RESPONSIBILITY TO UPDATE OR REVISE, OR PUBLICLY DISCLOSE ANY UPDATE OR REVISION TO, ANY FINANCIAL FORECASTS CONTAINED HEREIN TO REFLECT CIRCUMSTANCES OR EVENTS, INCLUDING UNANTICIPATED EVENTS, THAT MAY HAVE OCCURRED OR THAT MAY OCCUR AFTER THE PREPARATION OF THESE FORECASTS. HOWEVER, WE MAY ELECT TO UPDATE OUR BUSINESS OUTLOOK AT ANY TIME FOR ANY REASON.
Non-GAAP Financial Measures
This press release includes certain non-IFRS financial measures (including on a forward-looking basis) and industry metrics such as EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, annual recurring revenue and net cash (debt). These measures are an addition, and not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with IFRS. Semantix believes that these measures (including on a forward-looking basis) provide useful supplemental information to investors about Semantix, particularly as they exclude the impacts of certain events that we believe are isolated in nature incurred as part of our recent expansion and, therefore, not reflective of our underlying results. Semantix’s management does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. Semantix’s management uses forward-looking non-IFRS measures to evaluate Semantix’s projected financials and operating performance. However, there are a number of limitations related to the use of these measures, including that they exclude significant expenses that are required by IFRS to be recorded in Semantix’s financial statements, including certain research expenses, provisions, expenses related to our stock option plans and other expenses related to our expansion, including our recently-completed business combination and other acquisitions. In addition, other companies may calculate non-IFRS measures or industry metrics differently or may use other measures to calculate their financial performance, and therefore, Semantix’s non-IFRS measures and industry metrics may not be directly comparable to similarly titled measures of other companies. Additionally, to the extent that forward-looking non-IFRS financial measures are provided, they are presented on a non-IFRS basis without reconciliations of such forward-looking non-IFRS measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations.
Other Business Metrics
Proprietary SaaS and Resale of Third-party Software: Proprietary SaaS consists of Semantix’s data platform software, while Resale of third-party Software consists of the resale of licenses from third-party data platform software providers.
Customers with Trailing 12-Month Revenue Greater than US$1 Million: Large customer relationships lead to scale and operating leverage in our business model. Compared with smaller customers, large customers present a greater opportunity for us to sell additional capacity because they have larger budgets, and a wider range of potential use cases. As a measure of our ability to scale with our customers and attract large enterprises, we count the number of customers that contributed more than US$1 million in revenues in the trailing 12 months, considering the Brazilian real to US Dollar exchange rate as of September 30, 2022. Our customer count is subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity.
Proprietary SaaS ARR: This metric is intended to measure the value of the contracted recurring revenue components of our proprietary SaaS term subscriptions normalized to a one-year period. We measure Proprietary SaaS ARR as the total gross revenue we expect to receive from our proprietary SaaS customers over the following 12 months based on contractual commitments, assuming no increases or reductions in their subscriptions or usage.
Net Cash (Debt): Net cash (debt) reflects Semantix’s cash and cash equivalents balance at a given date in time, net of the loans and borrowings balance as of the same date.
About Semantix
Semantix is Latin America’s first fully integrated data software platform. Semantix has more than 300 clients with operations in approximately 15 countries using Semantix’s software and services to enhance their businesses. The company was founded in 2010 by CEO Leonardo Santos. For more information, visit www.semantix.ai.
Semantix Inc.
Unaudited Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
(in BRL thousands)
| Three Months Ended, September 30, |
Nine Months Ended, September 30, |
|||
| 2022 | 2021 | 2022 | 2021 | |
| Revenues | 80,638 | 75,189 | 166,180 | 170,299 |
| Cost of sales | (41,563) | (47,062) | (99,356) | (103,537) |
| Gross profit | 39,075 | 28,127 | 66,824 | 66,762 |
| Operating expenses | ||||
| Sales and marketing expenses | (13,466) | (6,812) | (38,296) | (22,532) |
| General and administrative expenses | (37,359) | (36,484) | (64,278) | (59,701) |
| Research and development | (4,127) | (1,011) | (24,692) | (1,365) |
| Other expenses | (198,733) | (1,206) | (231,312) | (9,415) |
| Operating loss | (214,610) | (17,386) | (291,754) | (38,536) |
| Financial income | 23,272 | 557 | 29,902 | 2,998 |
| Financial expenses | (12,284) | (5,158) | (31,492) | (14,085) |
| Net financial results | 10,988 | (4,601) | (1,590) | (11,087) |
| Loss before income tax | (203,622) | (21,987) | (293,344) | (49,623) |
| Income tax | 4,102 | 2,676 | 7,674 | 7,238 |
| Loss for the period | (199,520) | (19,311) | (285,670) | (42,385) |
Semantix Inc.
Unaudited Interim Condensed Consolidated Statement of Cash Flows
(in BRL thousands)
| Nine Months Ended, September 30, |
||
| 2022 | 2021 | |
| Loss for the period | (285,670) | (42,385) |
| Adjustments to reconcile loss for the period | 219,450 | 36,633 |
| Depreciation and amortization | 12,324 | 5,396 |
| Deferred income tax | (7,745) | (6,675) |
| Onerous contract | (7,772) | 7,745 |
| Fair value adjustment of derivatives financial instruments | (15,080) | 2,648 |
| Share based payment | 3,158 | 5,031 |
| Listing expense | 213,595 | – |
| Trade and other receivables loss allowance | 675 | 9,152 |
| Accounts receivable write-off and write off of creditor invoice | (4,301) | 9,415 |
| Provision/(reversion) for contingencies | 1,360 | (1,984) |
| Interest expense | 23,236 | 5,905 |
| Interest paid | (33,895) | (892) |
| Changes in working capital assets and liabilities | (34,281) | (50,922) |
| Net cash outflow from operating activities | (134,396) | (57,566) |
| Purchase and development of intangible assets | (23,919) | (15,877) |
| Acquisition of subsidiaries net of cash acquired | (24,143) | – |
| Acquisitions of property and equipment | (507) | (401) |
| Net cash outflow from investment activities | (48,569 | (16,278 |
| Proceeds from exercise of stock options | 276 | – |
| Loans obtained | 122,015 | 104,965 |
| Payment of loans | (79,898) | (6,279) |
| Payments of lease liabilities | (870) | (1,476) |
| Transaction with non-controlling interests | – | 5,017 |
| Proceeds from SPAC merger, net | 630,083 | – |
| Net cash inflow from financing activities | 671,606 | 102,227 |
| Increase in cash and cash equivalents | 488,641 | 28,383 |
| Cash and cash equivalents at the beginning of the period | 52,149 | 25,936 |
| Cash and cash equivalents at the end of the period | 532,416 | 50,834 |
| Exchange rate effect | (8,374) | (3,485) |
| Increase in cash and cash equivalents | 488,648 | 28,383 |
| Supplemental non-cash flow information | ||
| Lease remeasurement | 257 | – |
| Unpaid amount related to business combination | 33,062 | – |
| Other receivables related to the sale of non-controlling interest | – | 5,017 |
Semantix Inc.
Unaudited Interim Condensed Consolidated Statement of Financial Position
(in BRL thousands)
| September 30, 2022 |
December 31, 2021 |
|
| ASSETS | ||
| Cash and cash equivalents | 532,416 | 52,149 |
| Trade receivables and other, net | 94,659 | 36,525 |
| Tax receivables | 6,711 | 4,993 |
| Prepaid expenses and other assets | 39,191 | 18,603 |
| PP&E, Intangible and right of use asset | 148,618 | 81,159 |
| Deferred tax asset | 25,357 | 11,698 |
| Derivatives financial instruments | 1,996 | 1,308 |
| Total current assets | 667,994 | 111,686 |
| Total non-current assets | 180,954 | 94,749 |
| Total assets | 848,948 | 206,435 |
| LIABILITIES | ||
| Loans and borrowings | 178,052 | 146,594 |
| Trade and other payables | 114,170 | 78,389 |
| Lease liabilities and other liabilities | 60,421 | 34,459 |
| Taxes payable | 10,485 | 3,859 |
| Derivatives financial instruments | 19,167 | – |
| Deferred income tax | 8,590 | 7,029 |
| Total current liabilities | 249,897 | 142,030 |
| Total non-current liabilities | 140,988 | 128,300 |
| Total liabilities | 390,885 | 270,330 |
| EQUITY | ||
| Share capital | 425 | 55,818 |
| Additional paid-in capital | 872,771 | – |
| Capital reserves | 19,433 | 15,999 |
| Other comprehensive income | (14,029) | (1,022) |
| Accumulated loss | (425,703) | (140,477) |
| Non-controlling interests | 5,166 | 5,787 |
| Total equity | 458,063 | (63,895) |
| Total equity + liabilities | 848,948 | 206,435 |
Semantix Inc.
GAAP to Non-GAAP Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations
(in BRL millions)
| Three Months Ended, | ||
| September 30, | ||
| 2022 | 2021 | |
| Loss for the period | (199.5) | (19.3) |
| (+/-) Net interest income (expenses) | 2.5 | 2.6 |
| (+/-) Income tax | (4.1) | (2.7) |
| (+) Depreciation and amortization | 4.9 | 2.0 |
| EBITDA | (196.2) | (17.4) |
| (+) Data platform relaunch research expenses (1) | – | – |
| (+) Stock option expenses (2) | 1.1 | 3.0 |
| (+) Transaction expenses (3) | (8.2) | – |
| (+) Listing expenses (4) | 213.6 | – |
| (+) Earn-out payment expenses (5) | – | 2.4 |
| (+) Onerous contract provision expenses (6) | – | – |
| (+/-) Fair Value of Derivative Financial Instruments (7) | (16.9) | – |
| Adjusted EBITDA | (6.6) | (12.0) |
| Net Revenue | 80.6 | 75.2 |
| Adjusted EBITDA Margin | (8%) | (16%) |
| Nine Months Ended, | ||
| September 30, | ||
| 2022 | 2021 | |
| Loss for the period | (285.7) | (42.4) |
| (+/-) Net interest income (expenses) | 14.2 | 4.9 |
| (+/-) Income tax | (7.7) | (7.2) |
| (+) Depreciation and amortization | 12.4 | 4.9 |
| EBITDA | (266.8) | (39.8) |
| (+) Data platform relaunch research expenses (1) | – | 1.1 |
| (+) Stock option expenses (2) | 4.0 | 9.7 |
| (+) Transaction expenses (3) | 23.2 | – |
| (+) Listing expenses (4) | 213.6 | – |
| (+) Earn-out payment expenses (5) | – | 4.9 |
| (+) Onerous contract provision expenses (6) | – | 7.7 |
| (+/-) Fair Value of Derivative Financial Instruments (7) | (16.9) | – |
| Adjusted EBITDA | (42.9) | (16.4) |
| Net Revenue | 166.2 | 170.3 |
| Adjusted EBITDA Margin | (26%) | (10%) |
| (1) | Consists of isolated research expenses incurred in connection with the recent redesign and relaunch of Semantix’s proprietary data platform with the purpose of enhancing its functionality arising in relation to a single contract with a single supplier over a three-year period starting in 2019 and, following the relaunch of its data platform, which Semantix does not expect to incur on an ongoing basis. | |
| (2) | Consists of expenses related to stock option grants under the 2021 Plan and a stock option plan adopted by us in 2020, including payroll expenses in the amounts of R$0.2 million and R$0.2 million for the three-month periods ended September 30, 2022 and 2021, respectively, and R$0.8 million and R$0.2 million for the nine-month periods ended September 30, 2022 and 2021, respectively. | |
| (3) | Consists of concentrated expenses of an extraordinary nature related to third-party advisory, support services, travelling and events incurred in connection with the Business Combination that are not expected to be ongoing. | |
| (4) | Consists of a one-time non-cash expense reflecting the accounting impact of the NASDAQ listing in accordance with IFRS 2. | |
| (5) | Consists of expenses related to earn-out payment to the former shareholders of LinkAPI. | |
| (6) | Consists of non-cash expenses recorded under provisions relating to the early termination by a single client of a three-year contract to purchase third-party software in the early phases of Semantix’s U.S. operations, with such amount corresponding to Semantix’s ongoing payment obligations under an onerous contract with the third-party software supplier despite the early termination of the resale contract by Semantix’s client. | |
| (7) | Consists of gains from fair value of Semantix Warrants which artificially increased our financial income in the period as a result of the trading price of these warrants. | |
Investor Contact
Adriano Alcalde
Chief Financial Officer & IR
[email protected]
Press Contact
[email protected]
Source: Semantix, Inc
Artificial Intelligence
ICIS announces the 16th Asian Base Oils and Lubricants Conference in Singapore
LONDON, May 20, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, has announced the 16th Asian Base Oils and Lubricants Conference will take place in Singapore, 27-28 June 2024. The event offers a platform for senior executives to connect with peers, potential clients and industry leaders, offering insight into the latest trends, innovation and best practices within the industry.
Dr Sarawut Kaewtathip, Director General – Department of Mineral Fuels from the Ministry of Energy, Thailand will present a keynote delving into the Thai fuels and lubricants market. He will offer insight into growth opportunities within the automotive sector following COVID-19 and explain how the base oils and lubricants industry can support future developments.
The conference will also include exclusive market data from Michael Connolly, Principal Analyst, Refining at ICIS, who comments: “While Asian prices have been less impacted by global events than in other regions, it has still been affected, which is highlighted by further Group I closures in the region. This conference provides a vital platform to exchange knowledge and come together to learn collectively about the latest industry developments, whilst finding out how to best navigate uncertainty in the coming years.”
Delegates will also benefit from insight by Yan Chuang Zhao, Supervising Engineer of R&D Center at Great Wall Motors, who will be discussing ‘The wider Electric Vehicle picture in Asia’ and Charlotte Kehoe, AsPac Technology Director at bp Castrol who, who adds to the extensive line-up of speakers that conference attendees have come accustomed to. Charlotte will be looking to provide further insight into opportunities with data centres and immersion coolants across the region.
To find out more about the 16th ICIS Asian Base Oils and Lubricants Conference, or register for the event, please visit: https://events.icis.com/asian-base-oils/
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of $78.2bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64.7bn | €75.5bn | $81.9bn.
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Artificial Intelligence
Subang Jaya Medical Centre Applauded by Frost & Sullivan as the Best Hospital Company of the Year in Malaysia for the fourth consecutive year
SJMC’s significant efforts in alleviating nursing shortages, enhancing workflows and its strong market-leading position, both locally and globally resulted in high patient retention and strong referrals.
SAN ANTONIO, May 20, 2024 /PRNewswire/ — Frost & Sullivan recently analyzed the hospital industry and noted that operational inefficiencies, workflow interruptions and shortage of skilled healthcare professionals are some key challenges faced by the healthcare industry. Based on its findings, Subang Jaya Medical Centre (SJMC) is recognized with the 2024 Malaysian Best Hospital Company of the Year Award for the fourth consecutive year in the hospitals industry, making it the first to be recognized continuously with this prestigious accolades
The company is a private hospital with 443 licensed beds and over 150 outpatient clinics. It handles approximately 50,000 admissions and 550,000 outpatient visits annually. With a workforce of around 1,600 healthcare professionals, SJMC offers services across more than 260 medical specialties encompassing diverse therapeutic areas such as oncology, cardiology, orthopedics, digestive health as well as women and children health.
Bhaskar Vittal, industry principal at Frost & Sullivan, observed, “SJMC provides comprehensive and integrated care, implementing practices aimed at achieving the best possible outcomes for patients. A typical cancer patient journey at SJMC starts with awareness-building and screening programs, continuing with diagnosis, treatment, and aftercare, which includes support groups, educators, and counselors—all key elements in cancer care management.
SJMC is a finalist flagship medical tourism hospital selected by the Malaysian Healthcare Travel Council (MHTC) which is fully endorsed by the Malaysian Ministry of Health. It has achieved several accreditations including the Joint Commission International (JCI) Accreditation and aims at providing patients a seamless transition throughout their health journey in Malaysia. Patient onboarding follows a process-oriented approach from the inquiry level, where patients receive detailed information on available services, specialist doctors, and treatment availability.
SJMC has achieved international branding and recognition for its Cancer & Radiosurgery Centre (CRC), known for its person-centered care approach. Moreover, the hospital has been credited by the Australian Council on Healthcare Standards International (ACHSI) as the first Center of Excellence (CoE) for oncology services in Asia-Pacific, marking a milestone achievement. SJMC continuously improves patient treatment options, expands day care surgical offerings, and prioritizes safety, faster recovery, and lower costs in line with industry trends to achieve medical excellence.
The hospital’s Genetic Wellness, a first-of-its-kind clinical-grade genetics testing program, provides more than 1,000 insights into patients’ health conditions based on their unique genetic blueprint. The test provides individualized information on a wide range of conditions, including chronic, infectious, and metabolic diseases, allergies, and drug responses, allowing individuals to make informed choices for their overall wellbeing.
SJMC became the first hospital in Malaysia to introduce a remote patient monitoring system, SeniorConnect, that is tailored to the unique needs of senior patients and is particularly beneficial in urban settings, where it is common for working adults to face challenges in caring for their elderly relatives. It is also the first hospital in Malaysia to perform day care robotic-assisted total knee replacement and total hip replacement procedures using the Mako SmartRobotics system. It also focuses on preventive and precision healthcare—key trends in the global healthcare industry.
Its continuous glucose monitoring (CGM) technology allows diabetes patients to continuously monitor and control their blood glucose. SJMC also successfully conducted a clinical improvement project, titled “Reducing Early Morning In-Patient Hypoglycemia Incidence among In-Patient Adults with Type 2 Diabetes Mellitus in non-Critical Care Wards,” which found that patients adhering to the recommended snack regimen experienced zero hypoglycemic incidents. SJMC aims to enhance diabetes wellness with its multidisciplinary approach through revolutionary technology and in-depth research.
SJMC’s artificial intelligence (AI)-powered Radixact X9 with Synchrony synchronizes the movement of radiation beams with the tumor’s motion, allowing seamless and continuous radiation delivery during the patient’s natural breathing patterns. This technology enables delivering accurate radiation dosage while minimizing exposure to healthy tissues.
“SJMC’s digital technologies and equipment enhance the patient journey, improve clinical outcomes, and provide the healthcare workforce with the best tools to achieve their medical excellence goals,” added Vittal.
Bryan Lin, Chief Executive Officer of SJMC expressed his gratitude for receiving this prestigious recognition for the fourth time, saying, “We’re honored to be recognized for the exceptional care our dedicated staff provides. Their unwavering commitment and teamwork are what truly make a difference for our patients. We’ll continue to pursue excellence and deliver world-class healthcare.”
“In today’s healthcare landscape, strengthening the healthcare workforce, enhancing workflows, and solidifying our market-leading position are paramount. We’re committed to achieving these goals by empowering our staff through training which improves the quality of patient care and equipping them with tools that enhance decision-making while encouraging them to embrace and learn in this digital healthcare era,” he adds.
With its excellent financial performance, seamless customer experiences, and strong overall performance, Subang Jaya Medical Centre’s unwavering dedication to exceptional healthcare is again recognized on the international stage, with their fourth consecutive award win.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
About Frost & SullivanFor six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Contact:Tarini SinghP: +91-9953764546E:[email protected]
About SJMC
Subang Jaya Medical Centre (SJMC)
SJMC has an impeccable reputation as one of Malaysia’s most trusted private medical centres best known for its clinical outcomes. The hospital is an award-winning 443-bed multi-disciplinary tertiary hospital of CAH Medical Centres (previously known as Ramsay Sime Darby Health Care Group), providing comprehensive and complex care in all specialties.
It is one of the few internationally accredited Joint Commission International (JCI) hospitals in Malaysia and Malaysian Society for Quality in Health (MSQH) accredited. SJMC’s laboratory is also an internationally recognized MS ISO 15189 accredited since 2009. In 2023, SJMC Oncology (Cancer) Services is certified by Australian Council of Healthcare Standards (ACHS) International as a Centre of Excellence, making it the first in Asia-Pacific.
SJMC is recognized as a finalist for the Flagship Medical Tourism Hospital Programme 2023 – 2025 by Malaysia Healthcare Travel Council (MHTC) to establish Malaysia as a globally renowned icon for healthcare travel, delivering exceptional end-to-end patient experiences anchored on medical excellence, service excellence, and international branding. It receives both local patients across Malaysia and international patients across the Asia Pacific with over 47,000 admissions and almost half a million outpatient visits annually.
For more information, contact:Celia TanP: +60 17 930 8200E: [email protected]
Nur Yee Jie MinP: +012 355 1885E: [email protected]
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Artificial Intelligence
More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024
Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.
The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
“Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases.
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit: https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
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