Artificial Intelligence

Aterian Reports Second Quarter 2023 Results

Published

2 months ago

August 8, 2023

NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today announced results for the second quarter ended June 30, 2023.

Second Quarter Highlights

Second quarter 2023 net revenue declined 39.5% to $35.3 million, compared to $58.3 million in the second quarter of 2022.
Second quarter 2023 gross margin declined to 42.2%, compared to 53.8% in the second quarter of 2022, primarily reflecting the impact of our strategy of liquidating high-cost inventory.
Second quarter 2023 contribution margin declined to (3.6)% from 9.7% in the second quarter of 2022, primarily reflecting consumer softness and higher competitive pricing pressure in cooling and air quality product categories and an increased inventory obsolescence reserve.
Second quarter 2023 operating loss of ($36.4) million increased compared to a loss of ($10.1) million in the second quarter of 2022. Second quarter 2023 operating loss includes ($3.2) million of non-cash stock compensation, a non-cash loss on impairment of intangibles of ($22.8) million, and restructuring costs of $(1.2) million, while second quarter 2022 operating loss included a gain of $1.7 million from the change in fair value of earn-out liabilities and ($6.0) million of non-cash stock compensation.
Second quarter 2023 net loss of ($34.8) million increased from ($6.3) million loss in the second quarter of 2022. Second quarter 2023 net loss includes ($3.2) million of non-cash stock compensation, a non-cash loss on impairment of intangibles of ($22.8) million, restructuring costs of ($1.2) million, and a gain on fair value of warrant liability of $2.2 million, while second quarter 2022 net loss included ($6.0) million in net charges from the changes in fair value of warrants, ($6.0) million of non-cash stock compensation and a gain of $1.7 million from the net change in fair value of earn-out liabilities.
Second quarter 2023 adjusted EBITDA loss of ($8.0) million increased from ($3.7) million in the second quarter of 2022.
Total cash balance at June 30, 2023 was $28.9 million.

Third Quarter 2023 Outlook

For the third quarter, taking into account the current global environment and inflation, we believe that net revenue will be between $32.5 million and $37.5 million and expect an adjusted EBITDA loss of between ($4.5) million to ($5.5) million.

The Company’s third quarter 2023 guidance is based on a number of assumptions that are subject to change, many of which are outside the Company’s control. If actual results vary from these assumptions, the Company’s expectations may change. There can be no assurance that the Company will achieve these results.

Non-GAAP Financial Measures

For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Non-GAAP Financial Measures” section below. The most directly comparable GAAP financial measure for EBITDA and adjusted EBITDA is net loss and we expect to report a net loss for the three months ending September 30, 2023, due primarily to our operating losses, which includes stock-based compensation expense, and interest expense. We are unable to reconcile the forward-looking statements of EBITDA and adjusted EBITDA in this press release to their nearest GAAP measures because the nearest GAAP financial measures are not accessible on a forward-looking basis and reconciling information is not available without unreasonable effort.

Webcast and Conference Call Information

Aterian will host a live conference call to discuss financial results today, August 8, 2023, at 5:00 p.m. Eastern Time, which will be accessible by telephone and the internet. To access the call, participants from within the U.S. should dial (833) 636-1351 and participants from outside the U.S. should dial (412) 902-4267 and ask to be joined into the Aterian, Inc. call. Participants may also access the call through a live webcast at https://ir.aterian.io. The archived online replay will be available for a limited time after the call in the Investors Relations section of the Aterian website.

About Aterian, Inc.

Aterian, Inc. (Nasdaq: ATER) is a leading technology-enabled consumer product company that builds, acquires, and partners with leading e-commerce brands by harnessing proprietary software and an agile supply chain to create top selling consumer products. The Company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world’s largest online marketplaces with a focus on Amazon, Shopify and Walmart. Aterian owns and operates a number of brands and sells its products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics.

Forward Looking Statements

All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements regarding our projected third quarter revenue and adjusted EBITDA, the current global environment and inflation. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our ability to continue as a going concern, our ability to meet financial covenants with our lenders, our ability to create operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; those related to our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; those related to consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to maintain and to grow market share in existing and new product categories; our ability to continue to profitably sell the SKUs we operate; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and our ability to integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.

Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.



ATERIAN, INC.
Consolidated Balance Sheets
*(in thousands, except share and per share data)*

	December 31, 2022			June 30, 2023
ASSETS
Current assets:
Cash	$	43,574		$	28,867
Accounts receivable, net		4,515			4,782
Inventory		43,666			36,683
Prepaid and other current assets		8,261			5,326
Total current assets		100,016			75,658
Property and equipment, net		853			839
Other intangibles, net		54,757			12,429
Other non-current assets		813			543
Total assets	$	156,439		$	89,469
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Credit facility	$	21,053		$	15,748
Accounts payable		16,035			11,821
Seller notes		1,693			1,206
Accrued and other current liabilities		14,254			11,978
Total current liabilities		53,035			40,753
Other liabilities		1,452			1,556
Total liabilities		54,487			42,309
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.0001 par value, 500,000,000 shares authorized and 80,752,290 and 88,014,844 shares outstanding at December 31, 2022 and June 30, 2023, respectively		8			9
Additional paid-in capital		728,339			733,878
Accumulated deficit		(625,251	)		(685,838	)
Accumulated other comprehensive loss		(1,144	)		(889	)
Total stockholders’ equity		101,952			47,160
Total liabilities and stockholders’ equity	$	156,439		$	89,469


ATERIAN, INC.
Consolidated Statements of Operations
*(in thousands, except share and per share data)*

	Three Months Ended June 30,						Six Months Ended June 30,
		2022			2023			2022			2023
Net revenue	$	58,268		$	35,264		$	99,941		$	70,143
Cost of good sold		26,917			20,368			44,982			36,151
Gross profit		31,351			14,896			54,959			33,992
Operating expenses:
Sales and distribution		31,866			20,557			54,840			40,783
Research and development		1,730			1,709			2,877			2,956
General and administrative		9,571			6,281			19,112			12,240
Impairment loss on goodwill		—			—			29,020			—
Impairment loss on intangibles		—			22,785			—			39,445
Change in fair value of contingent earn-out liabilities		(1,691	)		—			(4,466	)		—
Total operating expenses		41,476			51,332			101,383			95,424
Operating loss		(10,125	)		(36,436	)		(46,424	)		(61,432	)
Interest expense, net		338			346			1,138			717
Gain on extinguishment of seller note		—			—			(2,012	)		—
Loss on initial issuance of equity		—			—			5,835			—
Change in fair value of warrant liability		6,014			(2,197	)		7,893			(1,843	)
Other (income) expense, net		—			176			(25	)		229
Loss before income taxes		(16,477	)		(34,761	)		(59,253	)		(60,535	)
Provision (benefit) for income taxes		(168	)		26			(168	)		52
Net loss	$	(16,309	)	$	(34,787	)	$	(59,085	)	$	(60,587	)
Net loss per share, basic and diluted	$	(0.26	)	$	(0.45	)	$	(0.94	)	$	(0.78	)
Weighted-average number of shares outstanding, basic and diluted		63,947,069			77,625,304			62,749,520			77,181,388


ATERIAN, INC.
Consolidated Statements of Cash Flows
*(in thousands)*

	Six Months Ended June 30,
		2022			2023
OPERATING ACTIVITIES:
Net loss	$	(59,085	)	$	(60,587	)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization		3,894			2,964
Provision for sales returns		226			(170	)
Amortization of deferred financing cost and debt discounts		213			213
Stock-based compensation		8,913			5,539
Gain from decrease of contingent earn-out liability fair value		(4,466	)		—
Change in inventory provisions		—			262
Loss in connection with the change in warrant fair value		7,893			(1,843	)
Gain in connection with settlement of note payable		(2,012	)		—
Loss on initial issuance of equity		5,835			—
Impairment loss on goodwill		29,020			—
Impairment loss on intangibles		—			39,445
Allowance for doubtful accounts and other		127			—
Changes in assets and liabilities:
Accounts receivable		3,304			(267	)
Inventory		(13,071	)		6,721
Prepaid and other current assets		2,108			2,469
Accounts payable, accrued and other liabilities		(5,010	)		(3,603	)
Cash used in operating activities		(22,111	)		(8,857	)
INVESTING ACTIVITIES:
Purchase of fixed assets		(16	)		(66	)
Purchase of Step and Go assets		—			(125	)
Cash used in investing activities		(16	)		(191	)
FINANCING ACTIVITIES:
Proceeds from equity offering, net of issuance costs		27,007			—
Repayments on note payable to Smash		(1,778	)		(501	)
Payment of Squatty Potty earn-out		(3,983	)		—
Borrowings from MidCap credit facilities		71,914			38,060
Repayments for MidCap credit facilities		(70,972	)		(43,572	)
Insurance obligation payments		(719	)		(534	)
Cash provided (used) by financing activities		21,469			(6,547	)
Foreign currency effect on cash, cash equivalents, and restricted cash		(602	)		255
Net change in cash and restricted cash for the year		(1,260	)		(15,340	)
Cash and restricted cash at beginning of year		38,315			46,629
Cash and restricted cash at end of year	$	37,055		$	31,289
RECONCILIATION OF CASH AND RESTRICTED CASH:
Cash		34,781			28,867
Restricted Cash—Prepaid and other current assets		2,145			2,293
Restricted cash—Other non-current assets		129			129
TOTAL CASH AND RESTRICTED CASH	$	37,055		$	31,289

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	$	828		$	1,038
Cash paid for taxes	$	58		$	80
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Non-cash consideration paid to contractors	$	1,137		$	321
Fair value of warrants issued in connection with equity offering	$	18,982		$	—
Issuance of common stock related to exercise of warrants	$	767		$	—
Exercise of prefunded warrants	$	15,039		$	—

Non-GAAP Financial Measures

We believe that our financial statements and the other financial data included in this Quarterly Report have been prepared in a manner that complies, in all material respects, with generally accepted accounting principles in the U.S. (“GAAP”). However, for the reasons discussed below, we have presented certain non-GAAP measures herein.

We have presented the following non-GAAP measures to assist investors in understanding our core net operating results on an on-going basis: (i) Contribution Margin; (ii) Contribution margin as a percentage of net revenue; (iii) EBITDA (iv) Adjusted EBITDA; and (v) Adjusted EBITDA as a percentage of net revenue. These non-GAAP financial measures may also assist investors in making comparisons of our core operating results with those of other companies.

As used herein, Contribution margin represents gross profit less e-commerce platform commissions, online advertising, selling and logistics expenses (included in sales and distribution expenses). As used herein, Contribution margin as a percentage of net revenue represents Contribution margin divided by net revenue. As used herein, EBITDA represents net loss plus depreciation and amortization, interest expense, net and provision for income taxes. As used herein, Adjusted EBITDA represents EBITDA plus stock-based compensation expense, changes in fair-market value of earn-outs, profit and loss impacts from the issuance of common stock and/or warrants, changes in fair-market value of warrant liability, litigation settlements, impairment on goodwill and intangibles, gain from extinguishment of debt, restructuring expenses and other expenses, net. As used herein, Adjusted EBITDA as a percentage of net revenue represents Adjusted EBITDA divided by net revenue. Contribution margin, EBITDA and Adjusted EBITDA do not represent and should not be considered as alternatives to loss from operations or net loss, as determined under GAAP.

We present Contribution margin and Contribution margin as a percentage of net revenue, as we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to gross profit, provides useful supplemental information for investors. Specifically, Contribution margin and Contribution margin as a Non-GAAP Financial Measure percentage of net revenue are two of our key metrics in running our business. All product decisions made by us, from the approval of launching a new product and to the liquidation of a product at the end of its life cycle, are measured primarily from Contribution margin and/or Contribution margin as a percentage of net revenue. Further, we believe these measures provide improved transparency to our stockholders to determine the performance of our products prior to fixed costs as opposed to referencing gross profit alone.

In the reconciliation to calculate contribution margin, we add e-commerce platform commissions, online advertising, selling and logistics expenses (“sales and distribution variable expense”) to gross profit to inform users of our financial statements of what our product profitability is at each period prior to fixed costs (such as sales and distribution expenses such as salaries as well as research and development expenses and general administrative expenses). By excluding these fixed costs, we believe this allows users of our financial statements to understand our products performance and allows them to measure our products performance over time.

We present EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue because we believe each of these measures provides an additional metric to evaluate our operations and, when considered with both our GAAP results and the reconciliation to net loss, provide useful supplemental information for investors. We use these measures with financial measures prepared in accordance with GAAP, such as sales and gross margins, to assess our historical and prospective operating performance, to provide meaningful comparisons of operating performance across periods, to enhance our understanding of our operating performance and to compare our performance to that of our peers and competitors. We believe EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue are useful to investors in assessing the operating performance of our business without the effect of non-cash items.

Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue should not be considered in isolation or as alternatives to net loss, loss from operations or any other measure of financial performance calculated and prescribed in accordance with GAAP. Neither EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue should be considered a measure of discretionary cash available to us to invest in the growth of our business. Our Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue may not be comparable to similar titled measures in other organizations because other organizations may not calculate Contribution margin, Contribution margin as a percentage of net revenue, EBITDA, Adjusted EBITDA or Adjusted EBITDA as a percentage of net revenue in the same manner as we do. Our presentation of Contribution margin and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by the expenses that are excluded from such terms or by unusual or non-recurring items.

We recognize that EBITDA, Adjusted EBITDA and Adjusted EBITDA as a percentage of net revenue, have limitations as analytical financial measures. For example, neither EBITDA nor Adjusted EBITDA reflects:

• our capital expenditures or future requirements for capital expenditures or mergers and acquisitions;

• the interest expense or the cash requirements necessary to service interest expense or principal payments, associated with indebtedness;

• depreciation and amortization, which are non-cash charges, although the assets being depreciated and amortized will likely have to be replaced in the future, or any cash requirements for the replacement of assets;

• changes in cash requirements for our working capital needs; or

• changes in fair value of contingent earn-out liabilities, warrant liabilities, and amortization of inventory step-up from acquisitions (included in cost of goods sold).

Additionally, Adjusted EBITDA excludes non-cash expense for stock-based compensation, which is and is expected to remain a key element of our overall long-term incentive compensation package.

We also recognize that Contribution margin and Contribution margin as a percentage of net revenue have limitations as analytical financial measures. For example, Contribution margin does not reflect:

• general and administrative expense necessary to operate our business; •research and development expenses necessary for the development, operation and support of our software platform;

• the fixed costs portion of our sales and distribution expenses including stock-based compensation expense; or

• changes in fair value of contingent earn-out liabilities, warrant liabilities, and amortization of inventory step-up from acquisitions (included in cost of goods sold).

Contribution Margin

The following table provides a reconciliation of Contribution margin to gross profit and Contribution margin as a percentage of net revenue to gross profit as a percentage of net revenue, which are the most directly comparable financial measures presented in accordance with GAAP:

	Three Months Ended June 30,						Six Months Ended June 30,
		2022			2023			2022			2023
	(in thousands, except percentages)
Gross Profit	$	31,351		$	14,896		$	54,959		$	33,992
Less:
E-commerce platform commissions, online advertising, selling and logistics expenses		(25,703	)		(16,164	)		(45,479	)		(33,193	)
Contribution margin	$	5,648		$	(1,268	)	$	9,480		$	799
Gross Profit as a percentage of net revenue		53.8	%		42.2	%		55.0	%		48.5	%
Contribution margin as a percentage of net revenue		9.7	%		(3.6	)%		9.5	%		1.1	%

Adjusted EBITDA

The following table provides a reconciliation of EBITDA and Adjusted EBITDA to net loss, which is the most directly comparable financial measure presented in accordance with GAAP:

	Three Months Ended June 30,						Six Months Ended June 30,
		2022			2023			2022			2023
	(in thousands, except percentages)
Net loss	$	(16,309	)	$	(34,787	)	$	(59,085	)	$	(60,587	)
Add:
Provision (benefit) for income taxes		(168	)		26			(168	)		52
Interest expense, net		338			346			1,138			717
Depreciation and amortization		2,048			1,202			3,894			2,964
EBITDA		(14,091	)		(33,213	)		(54,221	)		(56,854	)
Other (income) expense, net		—			176			(25	)		229
Change in fair value of contingent earn-out liabilities		(1,691	)		—			(4,466	)		—
Impairment loss on goodwill		—			—			29,020			—
Impairment loss on intangibles		—			22,785			—			39,445
Gain on extinguishment of seller note		—			—			(2,012	)		—
Change in fair market value of warrant liability		6,014			(2,197	)		7,893			(1,843	)
Loss on original issuance of equity		—			—			5,835			—
Litigation reserve		—			—			800			—
Restructuring expense		—			1,216			—			1,216
Stock-based compensation expense		6,048			3,223			8,913			5,539
Adjusted EBITDA	$	(3,720	)	$	(8,010	)	$	(8,263	)	$	(12,268	)
Net loss as a percentage of net revenue		(28.0	)%		(98.6	)%		(59.1	)%		(86.4	)%
Adjusted EBITDA as a percentage of net revenue		(6.4	)%		(22.7	)%		(8.3	)%		(17.5	)%

Each of our products typically goes through the Launch phase and depending on its level of success is moved to one of the other phases as further described below:

i. Launch phase: During this phase, we leverage our technology to target opportunities identified using AIMEE (Artificial Intelligence Marketplace e-Commerce Engine) and other sources. This phase also includes revenue from new product variations and relaunches. During this period of time, due to the combination of discounts and investment in marketing, our net margin for a product could be as low as approximately negative 35%. Net margin is calculated by taking net revenue less the cost of goods sold, less fulfillment, online advertising and selling expenses. These primarily reflect the estimated variable costs related to the sale of a product.

ii. Sustain phase: Our goal is for every product we launch to enter the sustain phase and become profitable, with a target of positive 15% net margin for most products, within approximately three months of launch on average. Net margin primarily reflects a combination of manual and automated adjustments in price and marketing spend.

iii. Liquidate phase: If a product does not enter the sustain phase or if the customer satisfaction of the product (i.e., ratings) is not satisfactory, then it will go to the liquidate phase and we will sell through the remaining inventory. Products can also be liquidated as part of inventory normalization especially when steep discounts are required.

The following tables break out our second quarter of 2022 and 2023 results of operations by our product phases (in thousands):

	Three months ended June 30, 2022
	Sustain		Launch		Liquidation/ Other		Fixed Costs			Stock Based Compensation		Total
Net revenue	$	54,080	$	1,342	$	2,846	$	—		$	—	$	58,268
Cost of goods sold		24,259		742		1,916		—			—		26,917
Gross profit		29,821		600		930		—			—		31,351
Operating expenses:
Sales and distribution expenses		22,635		632		2,435		3,281			2,883		31,866
Research and development		—		—		—		1,097			633		1,730
General and administrative		—		—		—		7,038			2,533		9,571
Change in earn-out liability		—		—		—		(1,691	)		—		(1,691	)

	Three months ended June 30, 2023
	Sustain		Launch		Liquidation/ Other		Fixed Costs			Stock Based Compensation		Total
Net revenue	$	30,985	$	42	$	4,237	$	—		$	—	$	35,264
Cost of goods sold		16,505		20		3,843		—			—		20,368
Gross profit		14,480		22		394		—			—		14,896
Operating expenses:
Sales and distribution expenses		13,841		33		2,290		3,302			1,091		20,557
Research and development		—		—		—		1,286			423		1,709
General and administrative		—		—		—		4,572			1,709		6,281
Impairment loss on intangibles		—		—		—		22,785			—		22,785

	Six months ended June 30, 2022
	Sustain		Launch		Liquidation/ Other		Fixed Costs			Stock Based Compensation		Total
Net revenue	$	92,044	$	2,179	$	5,718	$	—		$	—	$	99,941
Cost of goods sold		40,008		1,153		3,821		—			—		44,982
Gross profit		52,036		1,026		1,897		—			—		54,959
Operating expenses:
Sales and distribution expenses		40,114		1,167		4,197		6,133			3,229		54,840
Research and development		—		—		—		1,970			907		2,877
General and administrative		—		—		—		14,335			4,777		19,112
Impairment loss on goodwill		—		—		—		29,020			—		29,020
Change in earn-out liability		—		—		—		(4,466	)		—		(4,466	)

	Six months ended June 30, 2023
	Sustain		Launch		Liquidation/ Other		Fixed Costs			Stock Based Compensation		Total
Net revenue	$	59,616	$	200	$	10,327	$	—		$	—	$	70,143
Cost of goods sold		28,183		111		7,857		—			—		36,151
Gross profit		31,433		89		2,470		—			—		33,992
Operating expenses:
Sales and distribution expenses		27,194		152		5,847		5,829			1,761		40,783
Research and development		—		—		—		2,099			857		2,956
General and administrative		—		—		—		9,319			2,921		12,240
Impairment loss on intangibles		—		—		—		39,445			—		39,445

Related Topics:AI Artificial Intelligence Machine learning

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CISION (PR Newswire)

DUBAI, UAE, Oct. 3, 2023 /PRNewswire/ — As per the latest report published by Kings Research, the global Healthcare Analytics Market size was recorded at USD 24.45 billion in 2022 and is estimated to grow to USD 139.34 billion by 2030, exhibiting a CAGR of 23.31% over the forecast period of 2023- 2030. The healthcare industry has embraced analytics to address the challenges of inadequate patient care, rising treatment costs, and low levels of patient engagement and retention. By leveraging healthcare analytics, the industry aims to improve patient care and operational efficiency, which is fueling market expansion.

Healthcare analytics leverages extensive data collection to provide organizations with practical insights, enabling them to make informed decisions in real-time. Through analytical methodologies, these insights facilitate improved planning, management, measurement, and learning. Furthermore, healthcare institutions around the globe are prioritizing cost reduction, enhancing care team coordination, and elevating patient care. Moreover, newer market entrants are introducing innovative healthcare delivery approaches, intensifying market competition. Consequently, healthcare analytics systems primarily concentrate on big data, offering potential benefits such as cost reduction, enhanced efficiency, and better patient treatment.
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Competitive Landscape
Key participants in the global healthcare analytics market are emphasizing acquisitions as a primary approach for expanding their businesses. For instance, in June 2022, Oracle Corporation took over Cerner Corporation intending to integrate Cerner’s clinical abilities with its own expertise in enterprise platform analytics and automation.
Leading companies in the global healthcare analytics market include:
Optum, Inc.Wipro LimitedAllscripts Healthcare, LLCCerner CorporationHealth CatalystInovalonMcKesson CorporationIBMMEDEANALYTICS, INC.GENERAL ELECTRICHave an Inquiry? Get in Touch with us @ https://www.kingsresearch.com/enquiry/healthcare-analytics-market-185
Trending Now: Mayo Clinic and Google Cloud Collaborate on AI for Healthcare Data
Google Cloud and Mayo Clinic have joined forces to implement generative artificial intelligence (AI) in the field of healthcare. This collaboration aims to empower clinicians and researchers to swiftly and naturally access information, as stated in a press release dated 7th June 2023.
In the same release, Google Cloud announced that the tool to be utilized in this endeavor, the Enterprise Search in Generative AI App Builder, had become HIPAA compliant. Thomas Kurian, CEO of Google Cloud, stated, “Generative AI has the potential to revolutionize healthcare by enhancing human interactions and streamlining operations like never before. Mayo Clinic is a global leader in harnessing AI for the greater good, and they are a crucial partner in responsibly introducing this transformative technology to healthcare.”
The press release also noted that Mayo Clinic has previously collaborated with Google Cloud to implement analytics, AI, and machine learning (ML) solutions in healthcare.
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Growing Demand for Descriptive Analysis to Spur Market Development
In terms of type, the healthcare analytics market is categorized into predictive analytics, prescriptive analytics, and descriptive analytics.
The descriptive analysis segment is anticipated to dominate the market through the projected timeframe. This growth is primarily attributable to the surging demand for descriptive analysis, which relies on historical patterns to obtain data-driven insights that can enhance the healthcare system’s management, benefiting both organizations and patients.
On Premise Solutions Garner Attention for Their Superior Accessibility in Remote Zones
On the basis of the delivery model, the global healthcare analytics industry is divided into on cloud and on premise.
The on premise segment is leading the market, propelled by its superior accessibility in remote areas. Furthermore, their lower maintenance and operation costs are driving the growth of the segment.
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Rising EHR Adoption to Drive Healthcare Analytics Market Expansion
The widespread use of electronic health records (EHR) has led to a substantial increase in the availability of data for analysis in the healthcare industry. As more healthcare professionals transition from traditional paper-based systems to EHR, a huge volume of data becomes accessible. This presents a unique opportunity to obtain valuable insights and enhance patient care. Consequently, the healthcare analytics market has experienced considerable growth in recent times.
The implementation of EHR has brought about greater operational efficiency and cost savings in healthcare organizations. With the ability to access and analyze real-time data, healthcare providers can identify trends, patterns, and areas for improvement in their workflows and procedures. This not only enhances their productivity but also helps them make informed decisions for better patient care. Moreover, integrating healthcare analytics into clinical decision support systems empowers practitioners to make evidence-based decisions, ultimately leading to enhanced patient outcomes. This widespread adoption of EHR and analytics has revolutionized the healthcare industry, ushering in a more data-driven and patient-centric approach to care.
North America to Lead Market Due to Advanced Healthcare Infrastructure
North America is poised to lead the global healthcare analytics market in the upcoming years due to its advanced healthcare infrastructure, robust technology, and data integration capabilities. This facilitates informed decision-making, enhances patient outcomes, and fosters healthcare innovation. Moreover, the region’s emphasis on R&D activities attracts industry leaders, solidifying its market dominance.
For more information on the report, visit: https://www.kingsresearch.com/healthcare-analytics-market-185
Key Points from TOC:
Chapter 1 Introduction of the Global Healthcare Analytics Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Healthcare Analytics Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Healthcare Analytics Market, By Type
Chapter 7 Global Healthcare Analytics Market, By Component
Chapter 8 Global Healthcare Analytics Market, By Delivery Model
Chapter 9 Global Healthcare Analytics Market, By Application
Chapter 10 Global Healthcare Analytics Market, By End User
Chapter 11 Global Healthcare Analytics Market, By Geography
Chapter 12 North America
Chapter 13 Europe
Chapter 14 Asia Pacific
Chapter 15 Middle East & Africa
Chapter 16 Latin America
Chapter 17 Global Healthcare Analytics Market Competitive Landscape
17.1 Overview
17.2 Key Developments
17.3 Key Strategic Developments
17.4 Company Market Ranking
17.5 Regional Footprint
17.6 Industry Footprint
Chapter 18 Company Profiles
18.1 Optum, Inc.
18.1.1 Key Facts
18.1.2 Financial Overview
18.1.3 Product Benchmarking
18.1.4 Recent Developments
18.1.5 Winning Imperatives
18.1.6 Current Focus & Strategies
18.1.7 Threat from competition
18.1.8 SWOT Analysis
18.2 Wipro Limited
18.2.1 Key Facts
18.2.2 Financial Overview
18.2.3 Product Benchmarking
18.2.4 Recent Developments
18.2.5 Winning Imperatives
18.2.6 Current Focus & Strategies
18.2.7 Threat from competition
18.2.8 SWOT Analysis
18.3 Allscripts Healthcare, LLC
18.3.1 Key Facts
18.3.2 Financial Overview
18.3.3 Product Benchmarking
18.3.4 Recent Developments
18.3.5 Winning Imperatives
18.3.6 Current Focus & Strategies
18.3.7 Threat from competition
18.3.8 SWOT Analysis
18.4 Cerner Corporation
18.4.1 Key Facts
18.4.2 Financial Overview
18.4.3 Product Benchmarking
18.4.4 Recent Developments
18.4.5 Winning Imperatives
18.4.6 Current Focus & Strategies
18.4.7 Threat from competition
18.4.8 SWOT Analysis
18.5 Health Catalyst
18.5.1 Key Facts
18.5.2 Financial Overview
18.5.3 Product Benchmarking
18.5.4 Recent Developments
18.5.5 Winning Imperatives
18.5.6 Current Focus & Strategies
18.5.7 Threat from competition
18.5.8 SWOT Analysis
Browse Complete TOC: https://www.kingsresearch.com/toc/healthcare-analytics-market-185
About Us:
Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions.
Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions.
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Artificial Intelligence

Hard Rock and Leo Messi Unveil First Ever Menu for Kids: The Hard Rock Messi Kids Menu

Published

4 hours ago

October 3, 2023

CISION (PR Newswire)

hard-rock-and-leo-messi-unveil-first-ever-menu-for-kids:-the-hard-rock-messi-kids-menu

HOLLYWOOD, Fla., Oct. 3, 2023 /PRNewswire/ — Hard Rock International and global brand ambassador, Leo Messi, are taking their partnership to the next level by curating their first-ever Messi menu for kids, “The Hard Rock Messi Kids Menu”. The menu launches today at all participating Hard Rock Cafes and select Hard Rock Hotels worldwide. Expanding on Hard Rock International’s partnership with the world-renowned soccer sensation, “The Hard Rock Messi Kids Menu” features the Messi X Burger, the Messi Golden Chicken Sandwich and other kid-friendly options, along with a special nod to the international sports icon in the form of a complimentary mini golden soccer ball toy, a collectable poster, activity sheet and stickers with every meal.

“As a father of three, I have always had a special connection with kids,” said Leo Messi. “Now with my partners at Hard Rock, we will kick-off the new kids menu, offering families a variety of tasty meals and a fun dining experience.”
Fans can also take some of the Messi magic home with them via a new collection of Hard Rock X Messi 3.0 merchandise, for both kids and adults, including a kid-sized version of the iconic Messi Chef’s Coat and a special mini soccer ball, available at select Rock Shops. A portion of proceeds from the mini soccer balls sold at the Rock Shop will be donated to kid’s charities around the world via the Hard Rock Heals Foundation.
“We’re very excited to partner with Leo Messi on this special addition to the Hard Rock menu,” said Jim Allen, Chairman of Hard Rock International. “We know how much children and their parents alike look up to Leo and we’re proud to offer something wholesome for the whole family to enjoy while visiting our locations around the world.”
For even more fun, fans can scan a QR code to enter a 360 digital experience with Leo Messi himself. They can watch an AI-generated Messi with the Messi Chicken Sandwich or greet fans at the Hard Rock Cafe. Also available on the 360 digital experience is access to purchase the new retail options for kids and adults, a trivia game, wallpaper downloads and more.
For assets from “The Hard Rock Messi Kids Menu” launch event, please see images and b-roll here. For the full release, visit https://news.hardrock.com/.
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Artificial Intelligence

Cloud ERP Market size worth USD 168.34 Billion, Globally, by 2030 at 12.53% CAGR: Verified Market Research®

Published

4 hours ago

October 3, 2023

CISION (PR Newswire)

The “Global Cloud ERP Market Size By Component, By Organization Size, By End-User, By Geographic Scope And Forecast” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Cloud ERP Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY, N.J., Oct. 3, 2023 /PRNewswire/ — The Global Cloud ERP Market is projected to grow at a CAGR of 12.53% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 55.40 Billion in 2022 and is expected to reach USD 168.34 Billion by the end of the forecast period.

Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample?rid=4857
Browse in-depth TOC on “Cloud ERP Market”
202 – Pages
126 – Tables
37 – Figures
Global Cloud ERP Market: Transformative Growth Fueled by Digital Shift and Construction Industry Adoption
The Global Cloud ERP Market is experiencing unprecedented growth driven by the worldwide digital transformation wave and accelerated adoption within the construction industry. Cloud ERP, a robust and flexible enterprise resource planning solution accessible over the internet, has revolutionized the business landscape. This cloud-based software automates critical operational and financial functions, providing organizations with a unified source of data, order management, supply chain optimization, procurement, production, distribution, and fulfillment capabilities.
Cloud ERP Market Drivers:The market surge is powered by transformative technologies, particularly cloud-based solutions, reshaping business interactions, innovation processes, and data analytics. Cloud ERP empowers organizations to integrate cutting-edge technologies, fostering innovation and sustainable Cloud ERP Market growth. The construction industry’s swift adoption, driven by the opportunities presented during the Covid-19 pandemic, has further accelerated the market’s expansion. Construction companies are leveraging Cloud ERP to stabilize operations and recapture growth opportunities lost during the crisis.
Cloud ERP Market Outlook:The Global Cloud ERP Market is poised for substantial growth, with North America leading the charge. The region boasts a robust technology landscape and hosts a multitude of key Cloud ERP vendors. The market is set to witness continuous expansion, driven by the evolving digital business environment and the construction industry’s ongoing technological transformation efforts.
Key Players and Competitive Landscape:In the competitive landscape of the Global Cloud ERP Market, key players are deploying innovative strategies to secure their market positions. Market ranking analysis reveals the dominance of established vendors, leveraging their expertise to capture significant market shares. Continuous market share analysis highlights the dynamic nature of the industry, encouraging players to engage in key development strategies to maintain their competitive edge.
Cloud ERP stands as a cornerstone in modern business strategies, enhancing operational efficiency, fostering innovation, and offering unparalleled scalability. The market’s trajectory is marked by relentless innovation and strategic moves by key players, shaping the future of enterprise resource management.
To get market data, market insights, financial statements and a comprehensive analysis of the Global Cloud ERP Market, please Contact Verified Market Research®.
Based on the research, Verified Market Research® has segmented the global Cloud ERP Market into Component, Organization Size, End-User, And Geography.
Cloud ERP Market, by ComponentSolutionServicesCloud ERP Market, by Organization SizeLarge EnterprisesSmall and Medium-sized EnterprisesCloud ERP Market, by End-UserBFSIIT & TelecomHealthcareGovernment and Public SectorAerospace and DefenseRetailOthersCloud ERP Market, by GeographyNorth AmericaU.SCanadaMexicoEuropeGermanyFranceU.KRest of EuropeAsia PacificChinaJapanIndiaRest of Asia PacificROWMiddle East & AfricaLatin AmericaBrowse Related Reports:
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Visualize Cloud ERP Market using Verified Market Intelligence -:
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VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
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