Artificial Intelligence

Getty Images Reports Preliminary Second Quarter 2023 Results

Published

9 months ago

August 14, 2023

NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) — Getty Images Holdings, Inc. “Getty Images” or the “Company”) (NYSE: GETY), a preeminent global visual content creator and marketplace, today reported preliminary financial results for the second quarter ended June 30, 2023.

“The second quarter was a more challenging environment; however, we continue to see increased customer commitment and content utilization, notably through growth in subscriptions, new customers and in our Corporate sector,” said Craig Peters, Chief Executive Officer for Getty Images. “The second quarter also saw us launch major search improvements through Natural Language search, providing significantly improved returns against any customer query. We also continue to make progress in developing a truly differentiated generative AI service that addresses customers’ commercial needs and in introducing new AI modification capabilities within our sites. We remain focused on driving value and efficiencies for our customers through our highly differentiated, industry-leading content and services, and positioning Getty Images for long-term success.”

Second Quarter 2023 Financial Summary:

Revenue of $225.7 million declined 3.3% year over year. On a currency neutral basis, revenues decreased 2.0%.
- Creative revenue of $141.3 million, down 3.7% year over year and 2.3% on a currency neutral basis.
- Editorial revenue of $80.3 million, down 3.2% year over year and 2.0% on a currency neutral basis.
- Annual Subscription Revenue as a percentage of total revenue grew to 51.8%, up from 48.2% in Q2’22 and up from a finish of 49% for the full year 2022.
Net Loss of $4.3 million, down from Net Income of $38.7 million from Q2’22. Included in Q2’23 was a $0.4 million unrealized gain related to the change in fair value of the Company’s Euro term loan and a $0.6 million loss related to the mark-to-market on an interest rate swap, compared with gains of $29.3 million on the Euro term loan and $4.7 million on the interest rate swap in Q2’22. Net Income Margin was (1.9%) compared to 16.6% in Q2’22.
Adjusted EBITDA* of $66.5 million, down 10.3% year over year and 8.9% on a currency neutral basis. Adjusted EBITDA Margin* was 29.5% compared to 31.7% in Q2’22, due primarily to the decline in revenue and $7 million of incremental legal expenses related to ongoing litigation.
Adjusted EBITDA less capex* was $52.5 million, down 12.3% year over year and down 10.5% on a currency neutral basis.

Liquidity and Balance Sheet:

Net cash provided by operating activities of $41.9 million in Q2’23, compared to $30.9 million in the prior year period.
Free cash flow* of $27.9 million in Q2’23, compared to $16.8 million in the prior year period.
Ending cash balance on June 30, 2023 was $121.3 million, up $23.4 million from the ending balance on December 31, 2022 and a decrease of $92.5 million from June 30, 2022. The year-over-year change in the cash balance reflects total debt paydowns of $330.4 million on our USD term loan through June 30, 2023.
During the quarter, the Company amended the Revolver, upsizing the facility to $150.0 million and extending the maturity to May 4, 2028. The Revolver remains undrawn, for total available liquidity of $271.3 million.
The Company’s total debt was $1.418 billion, which included $300.0 million in senior notes and a term loan balance of $1.118 billion, consisting of $662.2 million in USD and $456.1 million in USD equivalent of Euros, converted using exchange rates as of June 30, 2023.
On August 11, 2023, the Company made a voluntary repayment on the USD term loan of $20.0 million from balance sheet cash. In line with its commitment to further de-lever the balance sheet, the company has utilized over 100% of free cash flow to repay $45.2 million of debt year to date.

* Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBITDA less capex, and Free Cash Flow are non-GAAP financial measures. Refer to the Reconciliation of GAAP and Non-GAAP Financial Measures section below.

Key Performance Indicators (KPIs)^1,8

	Last Twelve Months Ended June 30,
	2023¹	2022	Y/Y Change
LTM total purchasing customers (thousands)²	830	843	-1.6%
LTM total active annual subscribers (thousands)³	182	89	104.1%
LTM paid download volume (millions)⁴	94	93	1.1%
LTM annual subscriber revenue retention rate⁵	98.5%	101.9%	-340 bps
Image collection (millions)⁶	513	474	8.2%
Video collection (millions) ⁶	26	22	16.3%
LTM video attachment rate⁷	13.5%	12.2%	+130 bps

Note: The Key Operating Metrics outlined are the metrics that provide management with the most immediate understanding of the drivers of business performance and our ability to deliver shareholder return, track to financial targets and prioritize customer satisfaction. Note, KPI comparisons to periods prior to trailing twelve-months ended June 30, 2023 reflect some COVID-19 impact.

Annual subscription – includes all products with a duration of 12 months or longer

1 Beginning with the three months ended September 30, 2022, the Company made two changes to its reporting that has some impact on reported KPI’s. First, activity for LATAM, Turkey and Israel, which was previously excluded from these metrics, is now included due to completion of a system migration. Additionally, the method by which we aggregate our customer accounts was updated to better align with our internal sales CRM system. We have not restated historical periods given the immaterial impact to the KPI’s, except for LTM total active annual subscribers and LTM annual subscriber revenue retention rate for which the legacy reporting format is detailed in noted 2, 3 and 5 below.
2 The count of total customers who made a purchase within the reporting period based on billed revenue. Absent the reporting changes noted in Note 1 above, LTM total purchasing customers would have been 839 thousand.
3 The count of customers who were on an annual subscription product during the reporting period. Absent the reporting changes noted in Note 1, LTM total active annual subscribers would have been 162 thousand, up 82% year on year.
4 A count of the number of paid downloads by our customers in the reporting period. Excludes downloads from Editorial Subscriptions, Editorial feeds and certain API structured deals, including bulk unlimited deals. Excludes downloads starting in Q3’22 tied to a two-year deal signed with Amazon in July 2022, as the magnitude of the potential download volume over the deal term could result in significant fluctuations in this metric without corresponding impact to revenue in the same period.
5 This calculates retention of total revenue for customers on an annual subscription product, comparing the customer’s total billed revenue (inclusive of both annual subscription and non-annual subscription products) in the LTM period to the prior LTM period. Absent the reporting changes noted in Note 1 above, LTM annual subscriber retention rate would have been 97.3%.
6 A count of the total images and videos in our content library as of the reporting date.
7 A measure of the percentage of total paid customer downloaders who are video downloaders. The underlying calculation of this metric was changed vs. previously reported metrics. This change was made to exclude the impact of downloader activity from our free trial subscriptions which are skewed entirely to stills-only content.
8 The Company launched Unsplash+ during the three months ended December 31, 2022. This new Unsplash subscription is included within these KPI’s from the launch date forward.

Second Quarter 2023 Business Highlights:

In partnership with NVIDIA, made significant progress in bringing to market a high-quality, commercially viable, fully-indemnified, creator-responsible generative AI service, expected to launch late Q3.
Announced exclusive, multi-year partnership with US Soccer and renewed agreements with Major League Baseball and Tribeca Festival to deliver an industry-leading service in the creation and distribution of world‑class sports and entertainment content.
Expanded deployment of Natural Language search to better surface Getty Images’ pre-shot content, now returning a much broader set of high-quality results even against the most complex search string.

Financial Outlook for Full Year 2023

“Looking ahead, we are updating our Full Year 2023 guidance to reflect our performance through the first half of this year, ongoing macro-economic and Agency sector pressures, expected impacts from the U.S. Hollywood strikes, as well as litigation costs that are expected to be largely concentrated in the first half of 2023,” said Jennifer Leyden, Chief Financial Officer.

The following tables summarize Getty Images updated fiscal year 2023 guidance:

	Updated 2023 Guidance	Prior 2023 Guidance
Revenue	$920 million to $935 million	$936 million to $963 million
Revenue Growth YoY	-0.7% to 0.9%	1.0% to 4.0%
Revenue Growth, Currency Neutral	-0.7% to 1.0%	1.5% to 4.5%
Adjusted EBITDA	$292 million to $303 million	$305 million to $315 million
Adjusted EBITDA Growth YoY	-3.8% to -0.3%	0.4% to 3.6%
Adjusted EBITDA Growth, Currency Neutral	-3.8% to -0.3%	0.7% to 4.0%

Assuming foreign currency rates remain at current levels, the guidance includes the following estimated and actual impacts from FX on revenue and EBITDA:

	FX Headwind	FX Tailwind		FX Impact
	1H 2023 (actual)	Q3 2023	2H 2023	2023
Revenue	($10.7) million	~$3.0 million	~$10.5 million	(~$0.1) million
Adjusted EBITDA	($4.4) million	~$1.0 million	~$4.5 million	~$0.1 million

Preliminary Results and Extension of 10-Q Filing
The Company expects to file a Form 12b-25 with the Securities and Exchange Commission to disclose that it will not be able to file its Form 10-Q by its due date of August 14, 2023 and may not file within the 5-day extension period allowed by the form. The delay in filing this Form 10-Q is due to the Company’s independent auditors requiring time for additional audit processes in response to a comment arising from an inspection of the audit workpapers of the Company’s 2022 financial statements. As of this date, we are not aware of, nor has our independent auditor advised us of any material misstatement to the 2022 financial statements.

Webcast & Conference Call Information

The Company will host a conference call and live webcast with the investment community at 5:00 p.m. Eastern Time today, Monday, August 14, 2023, to discuss its preliminary second quarter 2023 results. The live webcast will be accessible through the Investor Relations section of the Company’s website at https://investors.gettyimages.com/. To access the call through a conference line, dial 1‑877‑407‑0792 (in the U.S.) or 1‑201‑689‑8263 (international callers). A replay of the conference call will be posted shortly after the call and will be available for fourteen days following the call. To access the replay, dial 1‑844‑512‑2921 (in the U.S.) or 1‑412‑317‑6671 (international callers). The access code for the replay is 13740020.

About Getty Images

Getty Images (NYSE: GETY) is a preeminent global visual content creator and marketplace that offers a full range of content solutions to meet the needs of any customer around the globe, no matter their size. Through its Getty Images, iStock and Unsplash brands, websites and APIs, Getty Images serves customers in almost every country in the world and is the first-place people turn to discover, purchase and share powerful visual content from the world’s best photographers and videographers. Getty Images works with over 541,000 contributors and more than 310 content partners to deliver this powerful and comprehensive content. Each year Getty Images covers more than 160,000 news, sport and entertainment events providing depth and breadth of coverage that is unmatched. Getty Images maintains one of the largest and best privately-owned photographic archives in the world with millions of images dating back to the beginning of photography.

For company news and announcements, visit our Newsroom.

Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of the words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of our management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company.

These forward-looking statements are subject to a number of risks and uncertainties, including: that the preliminary results for the second quarter are preliminary and subject to change pending the completion of the Company’s quarterly closing process and review; the timing of our filing of the Form 10-Q for the quarter ended June 30, 2023; our inability to continue to license third-party content and offer relevant quality and diversity of content to satisfy customer needs; our ability to attract new customers and retain and motivate an increase in spending by its existing customers; the user experience of our customers on our websites; the extent to which we are able to maintain and expand the breadth and quality of our content library through content licensed from third-party suppliers, content acquisitions and imagery captured by its staff of inhouse photographers; the mix of and basis upon which we license our content, including the price-points at, and the license models and purchase options through, which we license our content; the risk that we operate in a highly competitive market; the risk that we are unable to successfully execute our business strategy or effectively manage costs; our inability to effectively manage our growth; our inability to maintain an effective system of internal controls and financial reporting; the risk that we may lose the right to use “Getty Images” trademarks; our inability to evaluate our future prospects and challenges due to evolving markets and customers’ industries; the legal, social and ethical issues relating to the use of new and evolving technologies, such as Artificial Intelligence; the risk that our operations in and continued expansion into international markets bring additional business, political, regulatory, operational, financial and economic risks; our inability to adequately adapt our technology systems to ingest and deliver sufficient new content; the risk of technological interruptions or cybersecurity vulnerabilities; the inability to expand our operations into new products, services and technologies and to increase customer and supplier awareness of new and emerging products and services; the loss of and inability to attract and retain key personnel that could negatively impact our business growth; the inability to protect the proprietary information of customers and networks against security breaches and protect and enforce intellectual property rights; our reliance on third parties; the risks related to our use of independent contractors; the risk that an increase in government regulation of the industries and markets in which we operate could negatively impact our business; the impact of worldwide and regional political, military or economic conditions, including declines in foreign currencies in relation to the value of the U.S. dollar, hyperinflation, higher interest rates, devaluation the impact of recent bank failures on the marketplace and the ability to access credit and significant political or civil disturbances in international markets where we conduct business; the risk that claims, lawsuits and other proceedings that have been, or may be, instituted against us or our predecessors could adversely affect our business; the inability to maintain the listing of our Class A common stock on the New York Stock Exchange; volatility in our stock price and in the liquidity of the trading market for our Class A Common Stock; the lingering effects of the COVID-19 pandemic; changes in applicable laws or regulations; the risks associated with evolving corporate governance and public disclosure requirements; the risk of greater than anticipated tax liabilities; the risks associated with the storage and use of personally identifiable information; earnings-related risks such as those associated with late payments, goodwill or other intangible assets; our ability to obtain additional capital on commercially reasonable terms; the risks associated with being an “emerging growth company” within the meaning of the Securities Act of 1933, as amended; risks associated with our reliance on information technology in critical areas of our operations; our inability to pay dividends for the foreseeable future; the risks associated with additional issuances of Class A Common Stock without stockholder approval; costs related to operating as a public company; and those factors discussed under the heading “Item 1.A. Risk Factors” of our most recently filed Annual Report on Form 10-K. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.

These and other factors that could cause actual results to differ from those implied by the forward-looking statements in this press release are more fully described under the heading “Item 1.A. Risk Factors” in our most recently filed Annual Report on Form 10-K and in our other filings with the SEC. The risks described under the heading “Item 1.A. Risk Factors” in our most recently filed Annual Report on Form 10-K are not exhaustive. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

In addition, the statements of belief and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us, as applicable, as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and you are cautioned not to unduly rely upon these statements.

GETTY IMAGES HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts, unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
		2023			2022			2023			2022
REVENUE	$	225,675		$	233,327		$	461,317		$	464,305

OPERATING EXPENSE:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	$	63,354		$	65,118		$	126,640		$	127,012
Selling, general and administrative expenses		107,723			95,528			210,118			188,681
Depreciation		13,540			12,379			26,563			24,891
Amortization		7,260			11,905			14,467			24,110
Other operating expense – net		332			862			611			3,568
Operating expense		192,209			185,792			378,399			368,262
INCOME FROM OPERATIONS		33,466			47,535			82,918			96,043

OTHER (EXPENSE) INCOME, NET:
Interest expense		(31,683	)		(29,986	)		(62,180	)		(59,586	)
(Loss) gain on fair value adjustment for swaps and foreign currency exchange contract – net		(640	)		4,979			(2,725	)		17,105
Unrealized foreign exchange (loss) gains – net		(3,165	)		31,191			(14,087	)		38,234
Other non-operating income – net		634			198			1,122			355

Total other (expense) income – net		(34,854	)		6,382			(77,870	)		(3,892	)
(LOSS) INCOME BEFORE INCOME TAXES		(1,388	)		53,917			5,048			92,151
INCOME TAX EXPENSE		(2,889	)		(15,222	)		(6,122	)		(28,349	)

NET (LOSS) INCOME		(4,277	)		38,695			(1,074	)		63,802
Less:
Net (loss) income attributable to noncontrolling interest		(214	)		167			293			375
Redeemable Preferred Stock dividend		—			19,705			—			38,552
NET (LOSS) INCOME ATTRIBUTABLE TO GETTY IMAGES HOLDINGS, INC.	$	(4,063	)	$	18,823		$	(1,367	)	$	24,875

Net (loss) income per share attributable to Class A Getty Images Holdings, Inc. common stockholders:
Basic	$	(0.01	)	$	0.10		$	—		$	0.13
Diluted	$	(0.01	)	$	0.09		$	—		$	0.11

Weighted-average Class A common shares outstanding:
Basic		397,417,290			196,107,293			396,368,132			196,105,637
Diluted		397,417,290			219,623,285			396,368,132			220,575,440

GETTY IMAGES HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and par value data, unaudited)

	June 30, 2023			December 31, 2022
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	121,308		$	97,912
Restricted cash		4,274			4,482
Accounts receivable – net of allowance of $7,090 and $6,460, respectively		121,661			129,603
Prepaid expenses		12,357			15,728
Taxes receivable		10,604			11,297
Other current assets		15,126			10,497
Total current assets		285,330			269,519
PROPERTY AND EQUIPMENT – NET		176,713			172,083
RIGHT OF USE ASSETS		43,311			47,231
GOODWILL		1,501,190			1,499,578
IDENTIFIABLE INTANGIBLE ASSETS – NET		409,834			419,548
DEFERRED INCOME TAXES – NET		8,286			8,272
OTHER LONG-TERM ASSETS		43,999			51,952
TOTAL	$	2,468,663		$	2,468,183
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	90,540		$	93,766
Accrued expenses		45,301			49,327
Income taxes payable		7,900			8,031
Deferred revenue		175,721			171,371
Total current liabilities		319,462			322,495
LONG-TERM DEBT – NET		1,414,549			1,428,847
LEASE LIABILITIES		42,204			46,218
DEFERRED INCOME TAXES – NET		31,294			37,075
UNCERTAIN TAX POSITIONS		33,073			37,333
OTHER LONG-TERM LIABILITIES		4,445			3,167
Total liabilities		1,845,027			1,875,135
Commitments and contingencies (Note 7)

STOCKHOLDERS’ EQUITY:
Class A common stock, $0.0001 par value: 2.0 billion shares authorized; 398.8 million shares issued and outstanding as of June 30, 2023 and 394.8 million shares issued and outstanding as of December 31, 2022		40			39
Additional paid-in capital		1,957,188			1,936,324
Accumulated deficit		(1,283,721	)		(1,282,354	)
Accumulated other comprehensive loss		(98,131	)		(108,928	)
Total Getty Images Holdings, Inc. stockholders’ equity		575,376			545,081
Noncontrolling interest		48,260			47,967
Total stockholders’ equity		623,636			593,048
TOTAL	$	2,468,663		$	2,468,183

GETTY IMAGES HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, unaudited)

	Six Months Ended June 30,
		2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$	(1,074	)	$	63,802
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		26,563			24,891
Amortization		14,467			24,110
Unrealized exchange loss (gains) on foreign denominated debt		9,065			(34,727	)
Equity-based compensation		18,009			3,130
Deferred income taxes – net		(5,796	)		7,790
Uncertain tax positions		(3,010	)		109
Non-cash fair value adjustment for swaps and foreign currency exchange contracts		2,725			(16,244	)
Amortization of debt issuance costs		1,960			3,122
Non-cash operating lease costs		3,920			5,486
Impairment of right of use assets		—			2,563
Other		1,524			2,777
Changes in current assets and liabilities:
Accounts receivable		6,706			6,909
Accounts payable		1,420			3,653
Accrued expenses		(5,243	)		(20,097	)
Lease liabilities, non-current		(4,215	)		(6,249	)
Income taxes receivable/payable		(1,163	)		(639	)
Interest payable		(130	)		6,895
Deferred revenue		5,616			3,723
Other		2,439			(700	)
Net cash provided by operating activities		73,783			80,304

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment		(29,452	)		(30,372	)
Purchase of a minority investment		—			(2,000	)
Net cash used in investing activities		(29,452	)		(32,372	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of debt		(25,200	)		(5,200	)
Cash paid for debt issuance costs		(1,137	)		—
Proceeds from common stock issuance		4,898			29
Cash paid for settlement of employee taxes related to exercise of equity-based awards		(2,993	)		—
Cash paid for equity issuance costs		(150	)		(4,741	)
Net cash used in financing activities		(24,582	)		(9,912	)

EFFECTS OF EXCHANGE RATE FLUCTUATIONS		3,439			(11,178	)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		23,188			26,842
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – Beginning of period		102,394			191,529
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – End of period	$	125,582		$	218,371

Non-GAAP Financial Measures
In order to assist investors in understanding the core operating results that our management uses to evaluate the business and for financial planning, we present the following non-GAAP measures: (1) Adjusted EBITDA, (2) Adjusted EBITDA Margin, (3) Adjusted EBITDA less capex and (4) Free Cash Flow. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP.

The Company believes that these measures are relevant and provide useful information widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and comparing our operating performance, and in the case of free cash flow, our liquidity results. We also evaluate our revenue on an as reported (U.S. GAAP) and currency neutral basis. We believe presenting currency neutral information provides valuable supplemental information regarding our comparable results, consistent with how we evaluate our performance internally.

Reconciliations of these non-GAAP measures to the most comparable GAAP measures are provided below.

The Company does not reconcile its forward-looking non-GAAP financial measures to the corresponding U.S. GAAP measures, due to variability and difficulty in making accurate forecasts and projections and/or certain information not being ascertainable or accessible; and because not all of the information, such as foreign currency impacts necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable U.S. GAAP financial measure, is available to the Company without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. The Company provides non-GAAP financial measures that it believes will be achieved, however it cannot accurately predict all of the components of the adjusted calculations and the U.S. GAAP measures may be materially different than the non-GAAP measures.

Reconciliation of Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EBITDA less capex

(in thousands)	Three Months Ended June 30,						Six Months Ended June 30,
		2023			2022			2023			2022
Net (loss) income	$	(4,277	)	$	38,695		$	(1,074	)	$	63,802
Add/(less) non-GAAP adjustments:
Depreciation and amortization	$	20,800		$	24,284		$	41,030		$	49,001
Other operating expense – net	$	332		$	862		$	611		$	3,568
Interest expense	$	31,683		$	29,986		$	62,180		$	59,586
Fair value adjustments, foreign exchange and other non operating expense (income) ¹	$	3,171		$	(36,368	)	$	15,690		$	(55,694	)
Income tax expense	$	2,889		$	15,222		$	6,122		$	28,349
Equity-based compensation expense	$	11,876		$	1,390		$	18,009		$	3,131
Adjusted EBITDA	$	66,474		$	74,071		$	142,568		$	151,743
Capex	$	(13,927	)	$	(14,137	)	$	(29,452	)	$	(30,372	)
Adjusted EBITDA less capex	$	52,547		$	59,934		$	113,116		$	121,371
Net (loss) income margin	(1.9		)%		16.6	%	(0.2		)%		5.4	%
Adjusted EBITDA Margin		29.5	%		31.7	%		30.9	%		32.7	%

(1) Fair value adjustments for our swaps and foreign currency exchange contracts, foreign exchange gains (losses) and other insignificant non-operating related expenses (income).

Reconciliation of Free Cash Flow

(in millions)	Three Months Ended June 30,						Six Months Ended June 30,
		2023			2022			2023			2022
Net cash provided by operating activities	$	41.9		$	30.9		$	73.8		$	80.3
Acquisition of property and equipment	$	(13.9	)	$	(14.1	)	$	(29.5	)	$	(30.4	)
Free Cash Flow	$	27.9		$	16.8		$	44.3		$	49.9

OTHER FINANCIAL DATA

Revenue by Product

(In thousands)	Three Months Ended June 30,								increase / (decrease)
	2023		% of revenue		2022		% of revenue		$ change			% change		CN % change
Creative		141,281	62.6	%		146,669	62.9	%		(5,388	)	(3.7	)%	(2.3	)%
Editorial		80,281	35.6	%		82,945	35.5	%		(2,663	)	(3.2	)%	(2.0	)%
Other		4,113	1.8	%		3,713	1.6	%		400		10.8	%	12.4	%
Total revenue	$	225,675	100.0	%	$	233,327	100.0	%	$	(7,652	)	(3.3	)%	(2.0	)%

(In thousands)	Six Months Ended June 30,								increase / (decrease)
		2023	% of revenue			2022	% of revenue		$ change			% change		CN % change
Creative		287,778	62.4	%		295,067	63.6	%		(7,289	)	(2.5	)%	(0.2	)%
Editorial		164,906	35.7	%		161,698	34.8	%		3,208		2.0	%	4.4	%
Other		8,633	1.9	%		7,540	1.6	%		1,093		14.5	%	17.5	%
Total revenue	$	461,317	100.0	%	$	464,305	100.0	%	$	(2,988	)	(0.6	)%	1.7	%

Balance Sheet & Liquidity

($ millions)	June 30, 2023		Dec 31, 2022		Jun 30, 2022
Cash & Cash Equivalents¹	$	121.3	$	97.9	$	213.8
Available under Revolving Credit Facility²	$	150.0	$	80.0	$	80.0
Liquidity	$	271.3	$	177.9	$	293.8
Term Loans Outstanding – USD Tranche	$	662.2	$	687.4	$	992.6
Term Loans Outstanding – EUR Tranche³	$	456.1	$	447.0	$	438.9
Total Balance – Term Loans Outstanding⁴	$	1,118.30	$	1,134.4	$	1,431.5
Senior Notes	$	300.00	$	300.0	$	300.0

1 Excludes restricted cash of $4.3 million as of June 30, 2023, $4.5 million as of December 2022 and $4.6 million as of June 30, 2022.
2 Our new Revolving Credit Facility was effective May, 2023 and matures May, 2028. The prior Revolving Credit Facility was effective February 2019 and was scheduled to mature February 2024 prior to the recent extension.

3 Face Value of Debt is 419M EUR. Converted using the FX spot rate as of June 30, 2023 of 1.09, December 31, 2022 of 1.07, and June 30, 2022 of 1.05.
4 Represents face value of debt, not GAAP carrying value.

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Lithium Miners Strategize for Long-Term Gains as Market Recovers

Published

2 days ago

May 3, 2024

CISION (PR Newswire)

USA News Group Commentary
Issued on behalf of Lithium South Development Corporation
VANCOUVER, BC, May 3, 2024 /PRNewswire/ — USA News Group – Despite what appears to be a supply glut currently in the global lithium market, already there are signs of a lithium rebound on the horizon. According to Statista, global lithium demand is projected to grow through next year, while Fastmarkets predicts lithium supply will increase 30% in 2024. Fastmarkets also expects that by 2030, US lithium demand alone will grow by nearly 500%. Looking ahead, lithium miners continue to move their chess pieces onto the board with anticipation of long-term rewards, including the work of Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF), Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), Piedmont Lithium Inc. (NASDAQ:PLL), Lithium Americas Corp. (NYSE:LAC) (TSX:LAC), and Rio Tinto Group (NYSE:RIO).

Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF) recently filed a new Preliminary Economic Assessment (PEA), which provides support for the company to proceed with development plans for a 15,600 tonnes per year lithium carbonate plant. As per the PEA, the project’s financial model shows a Net Present Value (NPV) after tax of US$938 million, and an after-tax Internal Rate of Return (IRR) of 31.6%, with a 2.5-year payback.
“We are very pleased to have achieved this important milestone for the HMN Li Project,” said Adrian F.C. Hobkirk, Founder, President and CEO of Lithium South. “The robust economics and room for expansion indicate a promising future for Lithium South.”
The HMN Li project is planned to use an extraction and recovery process based on conventional solar evaporation of the well brine. Magnesium and other contaminants will be removed using industry standard proven methods including liming. The concentrated lithium solution will then be processed into lithium carbonate technical grade.
The PEA announcement came just weeks after the company announced the expansion of its ongoing production well drill program. A 400 meter deep pumping well has been completed at the Alba Sabrina claim block, which at 2,089 hectares is the project’s largest. Recent efforts at the well successfully cleared out sediments, leading to the flow of clear brine with strong artesian characteristics, suggesting potential for enhanced brine extraction rates. To maximize these benefits, Lithium South has contracted a significantly larger 80-kilowatt pump, and is now completing a long term pump test. Based on results, further wells are planned for Alba Sabrina and the southern claim blocks at Viamonte and Norma Edith.
“These developments on the Alba Sabrina claim block could potentially enhance our operational capacity,” said Hobkirk. “The completion of this pumping test, anticipated by the end of May, will provide critical technical insight into the capacity potential of this area of the salar.”
Earlier in the year, Lithium South together with the Korean conglomerate POSCO, entered into a cooperative development agreement on the HMN Li Project, representing a crucial step forward in advancing towards lithium production. Previously, towards the end of 2023, Lithium South also released an updated NI 43-101 technical report for its premier HMN Li asset, which demonstrated a significant 175% boost in its lithium resource, amounting to over 1.58 million tonnes of lithium carbonate equivalent (LCE).
According to Chile’s Sociedad Química y Minera de Chile S.A. (SQM) (NYSE:SQM), there will be steady lithium prices in the coming months, despite the supply glut. In particular, SQM is optimistic for the second half of the year, which the company predicts will entail higher sales volumes.
“As we enter into 2024, we anticipate another robust year of growth in lithium market, with global demand increasing by at least 20%, supported by electric vehicle sales growth globally and increasing demand for battery materials,” said Ricardo Ramos, CEO of SQM. “However, the excess in lithium and battery materials capacity seen during last year is expected to continue during this year, keeping pressure on lithium market prices. We expect our average lithium prices to remain relatively stable throughout the year and our sales volumes to increase slightly during this year, subject to market conditions and any changes in supply-demand balance.”
This optimism was shared by Keith Phillips, CEO of Piedmont Lithium Inc. (NASDAQ:PLL) in an interview with Yahoo! Finance Live.
“[When it comes to mining] low prices are the cure for low prices,” said Phillips, adding that “it’s a matter of time” that prices will rebound. How fast that rebound occurs is still to be determined, however, Piedmont isn’t slowing its march.
Just recently, Piedmont received its state mining permit from the state of North Carolina, where the company owns 3,600 acres, from which it plans to mine spodumene from at least half of the area. Piedmont will then convert the material to lithium hydroxide, which is key to the manufacturing of EV batteries.
“We look forward to continued engagement with the local community and the Gaston County Board of Commissioners,” said Phillips. “We have had extensive and ongoing dialogue with possible funding sources for Carolina Lithium.”
Domestically sourced lithium is projected to become even more desirable, especially with US government incentives underway. Lithium Americas Corp. (NYSE:LAC) (TSX:LAC) recently secured a record $2.26 billion loan from the US Department of Energy to build its Thacker Pass lithium project in Nevada.
Construction began at the site located just south of the Nevada-Oregon border in March 2023, following a lengthy and intricate legal victory over conservationists, ranchers, and Indigenous groups. Lithium Americas anticipates finalizing securing a loan later this year, pending the completion of final environmental assessments. Once the financing is in place, the company aims to commence substantial construction activities, a project slated to last three years. The initial phase of the mine is projected to yield 40,000 metric tons of battery-grade lithium carbonate annually, sufficient to supply up to 800,000 electric vehicles.
“Our team has been focused on refining the development plan and de-risking construction execution of Phase 1 for Thacker Pass,” said Jonathan Evans, President and CEO of Lithium Americas. “We have de-risked execution by advancing detailed engineering and project planning. To date, we have completed all the early-works and infrastructure required for major construction, including excavating the processing plant areas.”
Looking at multiple international lithium projects, mining giant Rio Tinto Group (NYSE:RIO) has already expressed the company remains bullish on lithium despite not currently seeking any big acquisitions. Back in March, Rio Tinto committed to spending $350 million on its Rincon lithium project in Argentina, set to commence production by the end of the year.
This comes just months after the President of Serbia expressed interest to hold further talks with Rio Tinto regarding its Jadar lithium project, after the country revoked licenses on the $2.4 billion asset in 2022. If brought to completion, the project could supply 90% of Europe’s current lithium needs, and make Rio Tinto a leading lithium producer. As well, Rio Tinto held talks with the country of Rwanda back in January for the exploration and mining of lithium in the East African nation.
“[Rio Tinto is] “excited to be partnering with the government of Rwanda, applying our global experience to accelerate the search for primary lithium deposits in Rwanda’s Western Province,” said Lawrence Dechambenoit, global head of external affairs at Rio Tinto. The move could further unlock the potential of another country’s mining sector, if successful.
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
CONTACT:USA NEWS [email protected] (604) 265-2873
Mr. William Feyerabend, a Consulting Geologist and Qualified Person under National Instrument 43-101 participated in the production of this advertisement, and approves of the technical and scientific disclosure contained herein pertaining to Lithium South.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Lithium South Development Corporation advertising and digital media from the company directly. There may be 3rd parties who may have shares of Lithium South Development Corporation, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lithium South Development Corporation which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Lithium South Development Corporation at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. The contents of this advertisement were reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person as defined under National Instrument 43-101. Mr. Feyerabend approves of the scientific and technical disclosure pertaining to Lithium South contained within this advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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Artificial Intelligence

ROLLER and Amusement Connect Announce Integration to Streamline Cashless Card Operations

Published

2 days ago

May 3, 2024

CISION (PR Newswire)

New partnership enhances guest experiences and operational efficiency across attraction venues
AUSTIN, Texas, May 3, 2024 /PRNewswire/ — In an effort to improve the guest experience and streamline operations for attractions venues, ROLLER, a global leader in leisure and attractions technology, has joined forces with Amusement Connect, a recognized leader in cashless card operations. This strategic partnership delivers an integration that aims to streamline the arcade experience for operators and guests alike, providing a more efficient way for entertainment venues to operate.

Through this integration, ROLLER and Amusement Connect enable the sale, top-up, and balance checks of cashless cards directly from ROLLER’s point-of-sale devices, simplifying the management of pay-to-play attractions. This move is expected to enhance operational efficiency and improve guest satisfaction by making sales smoother and more convenient. The integration also simplifies reporting by automatically recording every purchase of a cashless card, saving venue operators time and ensuring accurate tracking of purchases.
Both companies leverage cloud-based technology to ensure that venues can operate without the need for expensive servers, with the promise of continuous updates to keep the systems equipped with the latest features and improvements. This integration also introduces the option for guests to purchase game cards online through ROLLER’s online checkout, a feature designed to make the check-in process more efficient and increase average transaction values.
“Amusement Connect and ROLLER have a shared commitment to helping attractions businesses deliver exceptional guest experiences. So, we’re thrilled to partner with Amusement Connect on this integration – a trailblazing company known for great customer support and providing innovative tech. This isn’t just about upgrading our technology—it’s delivering on our promise to make every guest experience smoother and every operator’s day a bit easier,” explained Luke Finn, CEO and Founder of ROLLER.
“As we continue to innovate and collaborate with industry leaders like ROLLER, we’re thrilled to see the tangible benefits our integration brings to our customers. Together, we’re not just transforming transactions; we’re elevating experiences and driving profitability with every interaction,” commented Frank Licausi, Co-Owner of Amusement Connect.
This partnership between ROLLER and Amusement Connect represents a significant step towards more streamlined operations in the amusement industry. It offers a blend of efficiency and convenience aimed at improving the way entertainment venues operate and enhancing the overall guest experience. For more information on this integration and how it can benefit your venue, contact ROLLER or Amusement Connect directly.
About ROLLER
ROLLER is the cloud-based venue management platform for the modern attraction, purpose-built to remove friction from the guest experience at every touchpoint. Their all-in-one platform simplifies its customers’ business processes, improving efficiency and maximizing revenue. ROLLER’s comprehensive solution includes: Online Checkout & Ticketing, Point-of-Sale, Integrated Payments, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.
About Amusement Connect
Founded by Frank Licausi and John Tarpley in 2017, our comprehensive game card system, accompanied by a variety of products, provides a complete overview on games and attractions in settings like bars, arcades, FEC’s, and multi-location entertainment centers. As operators and industry experts, we bring innovation, value, and the best possible experiences to entertainment venues with our award-winning game card system. Bringing you more at amusementconnect.com.

View original content:https://www.prnewswire.co.uk/news-releases/roller-and-amusement-connect-announce-integration-to-streamline-cashless-card-operations-302135415.html

Artificial Intelligence

Computer Vision in Healthcare Market Worth $11.5 billion | MarketsandMarkets™

Published

2 days ago

May 3, 2024

CISION (PR Newswire)

CHICAGO, May 3, 2024 /PRNewswire/ — Computer Vision in Healthcare Market in terms of revenue was estimated to be worth $3.9 billion in 2024 and is poised to reach $11.5 billion by 2029, growing at a CAGR of 24.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The market’s expansion is fueled by the exponential growth of medical imaging data which necessitates efficient analysis methods, where computer vision techniques excel in automating and enhancing diagnostic processes. Further, the demand for improved patient care and outcomes fuels the adoption of AI-driven solutions, empowering healthcare providers with precise tools for diagnosis, treatment planning, and monitoring. Nevertheless, ensuring the accuracy and reliability of computer vision algorithms remains a significant challenge, especially in complex medical imaging tasks where errors can have critical consequences. Additionally, the regulatory landscape surrounding AI-based medical devices is evolving, requiring stringent validation and approval processes, which can impede the timely deployment of innovative solutions. Thus, restraining the market.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=231790940
Browse in-depth TOC on “Computer Vision in Healthcare Market”
505 – Tables55 – Figures379 – Pages
Computer Vision in Healthcare Market Scope:
Report Coverage
Details
Market Revenue in 2024
$3.9 billion
Estimated Value by 2029
$11.5 billion
Growth Rate
Poised to grow at a CAGR of 24.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product & Service, Type, Applications, End User
Geographies Covered
North America, Europe, Asia Pacific, Latin America and Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Computer vision solutions for healthcare that are hosted in the cloud
Key Market Drivers
The healthcare sector is experiencing a growing need for computer vision systems
“The largest share in the computer vision in healthcare market, based on type, was attributed to the PC-based computer vision systems segment in 2023.”
The PC-based computer vision systems segment holds the largest market share in the computer vision in healthcare market in 2023. The growth of this segment is propelled by factors such as PCs offering robust computational power, enabling real-time processing of complex algorithms required for tasks like medical image analysis. Also, PCs provide flexibility and scalability, allowing users to customize hardware configurations and software solutions according to specific requirements. This versatility makes them adaptable to various healthcare settings, from small clinics to large hospitals.
“In 2023, the patient activity monitoring/fall prevention segment demonstrated the most significant growth in the computer vision in healthcare market based on hospital management by type.”
The patient activity monitoring/fall prevention segment is expected to experience the highest growth in the computer vision in healthcare market. The key drivers for this growth include the aging population worldwide that has led to an increased focus on elderly care and fall prevention initiatives. Computer vision systems offer non-intrusive and continuous monitoring of patients’ movements, enabling early detection of potential fall risks and timely intervention to prevent accidents. Also, the growing adoption of wearable devices and smart sensors integrated with computer vision technology allows for seamless monitoring of patients’ activities both inside healthcare facilities and at home. This remote monitoring capability enhances patient safety and independence while reducing the burden on caregivers and healthcare resources.
“North America accounted for the largest share of the healthcare simulation market in 2023.”
In 2023, North America held the largest share in the computer vision in healthcare market, with Europe and Asia Pacific following. The significant presence of North America in the global market can be attributed to factors such as region’s strong focus on improving patient outcomes and reducing healthcare costs which incentivizes the integration of computer vision solutions to streamline processes, enhance diagnostics, and optimize treatment pathways.
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Computer Vision in Healthcare Market Dynamics:
Drivers:
The healthcare sector is experiencing a growing need for computer vision systemsRestraints:
The resistance of medical practitioners towards adopting AI-based technologiesOpportunities:
Computer vision solutions for healthcare that are hosted in the cloudChallenge:
Lack of curated dataKey Market Players of Computer Vision in Healthcare Industry:
The key players functioning in the computer vision in healthcare market include NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US), Basler AG (Germany), AiCure (US), iCAD, Inc. (US), Thermo Fisher Scientific Inc. (US), SenseTime (China), KEYENCE CORPORATION (Japan), Assert AI (India), Artisight (US), LookDeep Inc. (US), care.ai (US), CareView Communications (US), VirtuSense (US), Teton (Denmark), viso.ai (Switzerland), NANO-X IMAGING LTD. (Israel), Comofi Medtech Pvt. Ltd. (India), Avidtechvision (India), Roboflow, Inc. (US), Optotune (US) and CureMetrix, Inc. (US).
The break-down of primary participants is as mentioned below:
By Company Type – Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%By Designation – C-level: 42%, Director-level: 31%, and Others: 27%By Region – North America: 32%, Europe: 32%, Asia Pacific: 26%, Middle East & Africa: 5%, Latin America: 5%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=231790940
Recent Developments of Computer Vision in Healthcare Industry:
In April 2024, iCAD partnered with RAD-AID to enhance breast cancer detection utilizing the AI technology in underserved regions and low- and middle-income countries (LMICs).In March 2024, Microsoft and NVIDIA have broadened their longstanding collaboration with robust new integrations that harness cutting-edge NVIDIA generative AI and Omniverse technologies across Microsoft Azure, Azure AI services, Microsoft Fabric, and Microsoft 365.In February 2022, Advanced Micro Devices acquired Xilinx. This acquisition established the forefront leader in high-performance and adaptive computing, with a significantly expanded scale and the most formidable portfolio of leadership computing, graphics, and adaptive SoC products in the industry.Computer Vision in Healthcare Market – Key Benefits of Buying the Report:
This report will enrich established firms and new entrants/smaller firms to gauge the market’s pulse, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.
This report provides insights on:
Analysis of key drivers: (Increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies), restraints (Reluctance of medical practitioners to adopt AI-based technologies), opportunities (Cloud-based healthcare computer vision solutions), and challenges (Rising security concerns related to cloud-based image processing and analytics) influencing the growth of the computer vision in healthcare market.Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the computer vision in healthcare market.Market Development: Comprehensive information on the lucrative emerging markets, products & services, applications, end-users, and regions.Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the computer vision in healthcare market.Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the computer vision in healthcare market like NVIDIA Corporation (US), Intel Corporation (US), Microsoft Corporation (US), Advanced Micro Devices, Inc. (US), Google, Inc. (US).Related Reports:
Medical Robots Market – Global Forecasts to 2029
Minimally Invasive Surgery Market – Global Forecasts to 2029
Spinal Implants Market – Global Forecasts to 2028
Medical Waste Management Market – Global Forecasts to 2028
Operating Room Integration Market – Global Forecasts to 2028
Get access to the latest updates on Computer Vision in Healthcare Companies and Computer Vision in Healthcare Market Size
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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