30.10.2024 - Page 7 of 11 - NEW STOCKBURGER

Telematics Adoption Soars as 70% of Commercial Insurers Plan UBI Expansion Amid Rising Fleet Demand

30.10.2024 by admin

Denver, CO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Denver, CO – October 30, 2024 – SambaSafety has partnered with the Risk & Insurance Education Alliance and IoT Insurance Observatory to release its second annual 2024 Telematics Report: Connecting the Dots on Strategies & Adoption. This comprehensive report delivers an unparalleled view into the current state of telematics – tracking utilization, impact and investment trends across insurance teams and fleet segments.

“As the industry faces mounting claims costs, nuclear verdicts and increasing roadway risks, telematics offers an important tool for overcoming these challenges,” said Matt Scheuing, Chief Executive Officer of SambaSafety. “This report provides in-depth insights into how insurers, brokers and fleets are using telematics to create safer roads and establish more profitable insurance programs.”

Key Findings from the 2024 Telematics Report Include:

82% of commercial insurers now use telematics within their organizations, up from 65% in 2023.
60% of commercial insurers have formed dedicated, multi-disciplinary telematics teams, with Loss Control being the most represented area.
72% of fleets report a reduction in crashes and claims due to the combination of telematics and training, leading to lower insurance premiums for 1 in 4 respondents.
51% of fleets plan to expand their telematics devices or providers over the next 12 months, signaling ongoing telematics growth.
Usage-Based Insurance (UBI) is accelerating, with 70% of commercial insurers planning UBI expansions within 1 to 2 years, up from 33% in 2023.
75% of insurers cite convincing fleets to share telematics data as the most significant barrier, while 74% of fleets indicate they don’t share data simply because they’ve never been asked.
62% of fleets report they don’t foresee challenges in sharing telematics data with insurers or brokers.

These findings underscore the value of telematics and the need for collaboration among insurers, brokers and fleets to reduce risk and accelerate progress toward their strategic goals.

“Telematics has evolved beyond data collection; it’s about converting that data into action for fleets and insurers,” said Rich Lacey, Chief Product Officer at SambaSafety. “By combining telematics with violations, roadside inspections and claims, a comprehensive risk profile allows fleets to benchmark performance and deliver targeted training to improve their risk.”

SambaSafety’s broad telematics integration footprint supports over 60% of connected commercial vehicles across North America and the UK. With fast, seamless access to standardized policyholder telematics data, our unmatched data quality and predictive variables enable diverse use cases in Commercial Lines Loss Control, Underwriting and Claims. Insurers gain an experienced partner and a trusted foundation for implementing and advancing their telematics programs efficiently, without device or industry limitations.

To download the 2024 Telematics Report or explore strategies for elevating risk control and underwriting, visit SambaSafety.com/telematics.

About SambaSafety:

SambaSafety is a recognized innovator and leading provider of cloud-based risk management solutions for over 15,000 organizations with automotive mobility exposure, including many on Fortune’s Global 500 list. Employers and insurers benefit from SambaSafety’s continuous monitoring, intuitive insights, risk reduction tools and configurable pricing solutions. Through the collection, correlation and analysis of federal, state, local and telematics data sources, our flexible, end-to-end capabilities enable businesses and insurers to better evaluate and mitigate driving risk, accelerate product development, reduce crashes and foster safer communities.

2024 SambaSafety Annual Telematics Report

Ashley Newbill
SambaSafety
(720)254-4214
anewbill@sambasafety.com

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Lennox Intl Recent Insider Activity

30.10.2024 by admin

On October 29, a recent SEC filing unveiled that Michael Quenzer, EVP at Lennox Intl LII made an insider sell.

What Happened: Quenzer’s decision to sell 1,063 shares of Lennox Intl was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Tuesday. The total value of the sale is $659,081.

At Wednesday morning, Lennox Intl shares are down by 1.11%, trading at $604.0.

About Lennox Intl

Lennox International manufactures and distributes heating, ventilating, air conditioning, and refrigeration products to replacement (75% of sales) and new construction (25% of sales) markets. In fiscal 2023, residential HVAC was 68% of sales and commercial HVAC and Heatcraft refrigeration was 32% of sales. The company goes to market with multiple brands, but Lennox is the company’s flagship HVAC brand. The Texas-based company is focused on North America after the sale of its European HVAC and refrigeration businesses in late 2023.

Breaking Down Lennox Intl’s Financial Performance

Revenue Growth: Lennox Intl’s remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 9.65%. This signifies a substantial increase in the company’s top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.

Holistic Profitability Examination:

Gross Margin: The company shows a low gross margin of 32.6%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
Earnings per Share (EPS): Lennox Intl’s EPS outshines the industry average, indicating a strong bottom-line trend with a current EPS of 6.71.

Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 1.89, caution is advised due to increased financial risk.

Market Valuation:

Price to Earnings (P/E) Ratio: The current P/E ratio of 29.02 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 4.25, Lennox Intl’s stock is perceived as being overvalued in the market, particularly in relation to sales performance.
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): Lennox Intl’s EV/EBITDA ratio stands at 21.41, surpassing industry benchmarks. This places the company in a position with a higher-than-average market valuation.

Market Capitalization Analysis: The company’s market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.

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Delving Into the Significance of Insider Transactions

Investors should view insider transactions as part of a multifaceted analysis and not rely solely on them for decision-making.

Within the legal framework, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.

The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.

However, insider sells may not always signal a bearish view and can be influenced by various factors.

A Closer Look at Important Transaction Codes

Examining transactions, investors often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.

Check Out The Full List Of Lennox Intl’s Insider Trades.

Insider Buying Alert: Profit from C-Suite Moves

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This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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Economics News

New Open Space Institute Study Reveals New York State Parks Are Integral to Healthy Communities

30.10.2024 by admin

New York, NY, Oct. 30, 2024 (GLOBE NEWSWIRE) — The Open Space Institute (OSI) today issued “The Centennial Pulse of the Parks: State Park Visitor Insights and Recommendations for the Next Century.” The new report, produced from a major study conducted throughout the state, analyzes visitor demographics, experiences, and recreation trends, and demonstrates the tremendous value of state parks and the many ways that they positively impact people and communities. The report’s findings also reveal continued challenges, highlighting the critical need for continued investment in the state park system. Access the full report here.

Major themes revealed by the study include:

State parks are integral to the fabric of communities throughout New York, enabling people to build meaningful connections with nature and with each other;
Visitors appreciate recent and ongoing capital investments and improvements in state parks; and
State parks are worthy of sustained investment—both for current visitors and for generations to come.

Based on the results of the study, the report makes the following recommendations:

Continue and increase capital and operational investments for state parks;
Broaden services and amenities to better engage and welcome diverse communities in state parks;
Accelerate land acquisition, state park creation, and innovative state park development projects to accommodate a growing constituency of visitors and protect important open spaces; and
Expand programs and amenities that improve access to nature for children and families.

“OSI is proud to share this comprehensive statewide study in celebration of the system’s Centennial anniversary,” said Kathy Moser, OSI’s Chief Conservation and Policy Officer. “This report is a key part of OSI’s ongoing commitment to expanding and improving state parks and making these spaces more welcoming and accessible for all. We believe that the information and recommendations in the report will help our partners at New York State Parks advance their excellent work by strategically investing in state park development, programming, and amenities to accommodate a growing and increasingly diverse audience of state park visitors.

State Parks Commissioner Pro Tempore Randy Simons said, “We are grateful to the Open Space Institute for this comprehensive statewide study. Not only has our Centennial been an exciting celebration, it’s been an opportunity to look back at our history and look forward to our future to better understand what the New York State park system means to our citizens. This detailed input from our visitors will better serve our regular parkgoers and to encourage new and diverse visitors to experience what our parks and historic sites have to offer. We are excited to be working with our partners to make the state park system even better in the next century.”

“The Natural Heritage Trust is proud to have partnered with OSI and OPRHP on the development of the Centennial Pulse of the Parks study which demonstrates the powerful impact of the state park system on the well-being and health of communities across New York. We look forward to our continued work together on behalf of the programs and projects that ensure the park system is welcoming and accessible to all,” said Sally Drake, Executive Director, Natural Heritage Trust (NHT).

In 2023, OSI commissioned a statewide survey of visitors, which assessed recreation and demographic trends from 2,600 visitors at 22 representative New York state parks. The parks were selected across five key regions: Western New York, Central New York, the Hudson Valley and Capital District, New York City and Long Island, and Thousand Islands. More than 116 participants also participated in semi-structured interviews with researchers, sharing deeper insights into individual and group experiences at state parks. Data was collected from mid-July through early September 2023, when park attendance is typically at its highest.

The report was produced in collaboration with the New York State Office of Parks, Recreation, and Historic Preservation (OPRHP) and the Natural Heritage Trust (NHT), and with the research expertise of the Public Space Research Group. Results from the report will help inform future priorities for state park programs, amenities, improvements, and marketing efforts.

Over the past 50 years, OSI has helped OPRHP add nearly 40,000 acres to its park system, increasing the acreage of the state park system by 10 percent. Over the past decade, OSI has invested millions of private dollars for new and upgraded trails and trailheads, visitor centers, restored carriage roads, and other amenities and enhancements at state parks, in partnership and coordination with New York State agencies.

The “Centennial Pulse of the Parks” report builds on OSI’s ongoing research and advocacy initiatives to support continued investment in New York’s state parks and public lands. From 2013 to 2015, OSI published the initial “Pulse of the Parks” series – a collection of seven reports analyzing visitor demographics, user experiences, and economic impacts at select New York state parks. These reports successfully communicated the value of six individual state parks and demonstrated the need for investments in the state park system to state leadership and policymakers.

The Centennial study and report were funded and developed by OSI in partnership with OPRHP and NHT. This project was made possible with the generous support of the Samuel Freeman Charitable Trust, Overhills Foundation, The New York Community Trust, and other private donors.

About the New York State Park and Historic Site Centennial Celebration

The New York state park and historic site system is one of the oldest in the nation. It encompasses more than 250 parks, historic sites, and recreational facilities across 360,000 acres, including more than 2,000 miles of trails. These facilities provide residents and visitors with access to some of New York’s most beautiful and iconic outdoor spaces, recreational areas, and historic sites. The Centennial celebration highlights the important role that state parks have played in preserving the state’s natural resources and cultural heritage, while providing physical and mental health benefits and countless opportunities for recreation, leisure, education, and affordable vacations to tens of millions of visitors each year.

About OSI

The Open Space Institute is a national leader in land conservation and efforts to make parks and other protected land more welcoming for all. Since 1974, OSI has partnered in the protection of more than 2.5 million at-risk and environmentally sensitive acres in the eastern U.S. and Canada. OSI’s land protection promotes clean air and water, improves access to recreation, provides wildlife habitat, strengthens communities, and combats climate change, while curbing its devastating effects.

About Natural Heritage Trust

The Natural Heritage Trust is a non-profit, public-benefit corporation with the mission to receive and administer gifts, grants and contributions to further public programs for parks, recreation, cultural, land and water conservation and historic preservation purposes of the State of New York. The NHT accomplishes its mission by accepting donations, raising funds, and through cooperative programs and projects with its agency partners: New York State Office of Parks, Recreation and Historic Preservation (OPRHP), Department of Environmental Conservation (DEC) and the Department of State (DOS). For more information visit www.naturalheritagetrust.org

Cyclists at Buffalo Harbor State Park

Siobhan Gallagher Kent 
Open Space Institute
(845) 576-8186
sgallagherkent@osiny.org

Economics News

[Latest] Global Zero-Carbon Shipping Market Size/Share Worth USD 4,746.2 Million by 2033 at a 8.2% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

30.10.2024 by admin

Austin, TX, USA, Oct. 30, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Zero-Carbon Shipping Market Size, Trends and Insights By Vessel Types (Cargo Ships, Tankers, Passenger Ships, Ferries, Specialized Vessels), By Technology Solutions (Hydrogen Fuel Cells, Ammonia Propulsion, Battery-Electric Propulsion, Wind-Assisted Propulsion, Biofuels, Solar Power, Nuclear Power, Others), By End-User Industries (Manufacturing, Oil & Gas, Agriculture, Retail, Passenger Transportation, Other Industries), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033“ in its research database.

“According to the latest research study, the demand of global Zero-Carbon Shipping Market size & share was valued at approximately USD 2,158.1 Million in 2023 and is expected to reach USD 2,335.1 Million in 2024 and is expected to reach a value of around USD 4,746.2 Million by 2033, at a compound annual growth rate (CAGR) of about 8.2% during the forecast period 2024 to 2033.”

Click Here to Access a Free Sample Report of the Global Zero-Carbon Shipping Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=53040

Zero-Carbon Shipping Market: Growth Factors and Dynamics

Regulatory Pressure and Environmental Concerns: Governments worldwide are imposing increasingly stringent regulations to curb greenhouse gas emissions from the shipping industry, aligning with global climate goals such as those outlined in the Paris Agreement. Heightened environmental consciousness among consumers and stakeholders is amplifying the urgency for sustainable shipping practices, propelling the demand for zero-carbon solutions.

Industry Collaboration and Innovation: Collaborative initiatives among key industry players, research institutions, and governmental bodies are fostering a culture of innovation within the maritime sector. Joint research projects, knowledge-sharing platforms, and public-private partnerships are driving breakthroughs in zero-carbon propulsion technologies and sustainable shipping practices, facilitating the transition towards a greener maritime industry.

Investment and Funding Support: Governments, international organizations, and private investors are injecting substantial capital into research, development, and deployment initiatives focused on zero-carbon shipping. Funding programs, grants, and incentives are accelerating innovation cycles and scaling up promising technologies, ensuring a robust pipeline of sustainable solutions to meet the industry’s evolving needs.

Advancements in Technology: Ongoing advancements in zero-carbon propulsion technologies are pushing the boundaries of what is technologically feasible and economically viable within the maritime sector. Breakthroughs in hydrogen fuel cells, ammonia propulsion systems, battery-electric architectures, and wind-assisted propulsion technologies are enhancing the efficiency, reliability, and scalability of zero-carbon shipping solutions.

Market Demand and Consumer Preferences: Heightened awareness among consumers, businesses, and governments regarding the environmental impact of shipping activities is driving market demand for sustainable transportation solutions. Consumers are increasingly favoring companies that prioritize environmental stewardship, compelling businesses to adopt zero-carbon shipping practices to remain competitive and align with evolving consumer preferences.

Cost Competitiveness and Economic Viability: Continued innovation, economies of scale, and supportive policies are driving down the costs associated with zero-carbon shipping solutions, making them increasingly economically viable for shipowners and operators. As the cost competitiveness of zero-carbon technologies improves relative to conventional alternatives, market uptake is expected to accelerate, further driving down costs through increased adoption and technological refinement.

Request a Customized Copy of the Zero-Carbon Shipping Market Report @ https://www.custommarketinsights.com/inquire-for-discount/?reportid=53040

Zero-Carbon Shipping Market: Partnership and Acquisitions

In 2023, AP Moller-Maersk (Maersk) finalizes its acquisition of Martin Bencher Group, a Danish Project Logistics specialist, enhancing its project logistics capabilities globally. The addition of Martin Bencher strengthens Maersk’s service portfolio, enabling the provision of comprehensive project logistics solutions to international clients across diverse industries.

In 2023, Mazagon Dock Shipbuilders ventures into container manufacturing, securing an order from the Container Corporation of India Ltd (CONCOR) for 2,500 cargo-carrying steel boxes, marking its entry into this segment of the maritime industry.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 2,335.1 Million
Projected Market Size in 2033	USD 4,746.2 Million
Market Size in 2023	USD 2,158.1 Million
CAGR Growth Rate	8.2% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Vessel Types, Technology Solutions, End-User Industries and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Zero-Carbon Shipping report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Zero-Carbon Shipping report has been modified to include the COVID-19 impact study prior to delivery.)

Request a Customized Copy of the Zero-Carbon Shipping Market Report @ https://www.custommarketinsights.com/report/zero-carbon-shipping-market/

Zero-Carbon Shipping Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Zero-Carbon Shipping Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Disruption in Supply Chains and Manufacturing: The COVID-19 pandemic severely disrupted global supply chains and manufacturing operations, resulting in delays and disruptions in the production and deployment of zero-carbon shipping technologies and solutions. Shutdowns of factories, logistical challenges, and workforce shortages hampered the progress of ongoing projects, contributing to an overall slowdown in the market.

Budget Constraints and Investment Uncertainty: Economic uncertainties triggered by the pandemic led to budget constraints and investment uncertainty across industries, including the maritime sector. Shipowners, operators, and investors became cautious about committing capital to long-term projects amidst volatile market conditions, slowing down funding and investment flows into zero-carbon shipping projects and initiatives.

Resumption of Economic Activities: As economies gradually recover from the pandemic-induced slowdown, a resumption of economic activities is expected to drive increased demand for shipping services, including zero-carbon shipping solutions. Stimulated by economic recovery measures and growing trade volumes, the demand for sustainable transportation options is likely to rebound, providing impetus for the zero-carbon shipping market to recover.

Government Stimulus Packages: Government stimulus packages aimed at economic recovery may include incentives and funding support for sustainable transportation initiatives, providing a much-needed boost to the zero-carbon shipping market. By allocating resources towards green infrastructure projects and incentivizing investments in clean technologies, governments can spur innovation and accelerate the adoption of zero-carbon shipping solutions.

Renewed Focus on Environmental Sustainability: The COVID-19 pandemic underscored the interconnectedness of human health and environmental sustainability, prompting a renewed focus on green recovery strategies and sustainable development goals. Heightened awareness of environmental risks and vulnerabilities has amplified calls for ambitious climate action, creating an enabling environment for policies and initiatives that promote zero-carbon shipping and sustainable maritime practices.

Technological Innovation and Research Investments: Continued investments in technological innovation and research efforts aimed at advancing zero-carbon propulsion technologies and sustainable shipping practices will be crucial for driving recovery in the zero-carbon shipping market. R&D initiatives focused on improving the efficiency, reliability, and scalability of zero-carbon solutions will play a pivotal role in overcoming technical challenges and accelerating market uptake.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Zero-Carbon Shipping Market, with some challenges and opportunities arising from the pandemic.

Request a Customized Copy of the Zero-Carbon Shipping Market Report @ https://www.custommarketinsights.com/report/zero-carbon-shipping-market/

Key questions answered in this report:

What is the size of the Zero-Carbon Shipping market and what is its expected growth rate?
What are the primary driving factors that push the Zero-Carbon Shipping market forward?
What are the Zero-Carbon Shipping Industry’s top companies?
What are the different categories that the Zero-Carbon Shipping Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Zero-Carbon Shipping market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Zero-Carbon Shipping Market – Regional Analysis

The Zero-Carbon Shipping Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: North America is at the forefront of adopting green initiatives in the Zero-Carbon Shipping Market, emphasizing the reduction of emissions through zero-carbon propulsion technologies. The region witnesses substantial investment in research and development projects aimed at advancing these technologies and supporting infrastructure. Moreover, strong regulatory support, including incentives and grants from governments, further accelerates the adoption of sustainable practices in the maritime sector, positioning North America as a key player in the global transition towards zero-carbon shipping.

Europe: In Europe, stringent emission regulations drive the widespread adoption of zero-carbon shipping solutions to meet environmental standards. The region prioritizes the development of green ports and sustainable maritime infrastructure, facilitating the transition to zero-emission transportation. Through public-private partnerships, collaborative efforts between governments, industry players, and research institutions foster innovation and accelerate the deployment of zero-carbon technologies, positioning Europe as a leader in sustainable maritime practices.

Asia-Pacific: The Asia-Pacific region experiences rapid growth in the shipping industry, leading to a heightened demand for zero-carbon shipping solutions to address environmental concerns. The emergence of clean energy technologies, such as hydrogen fuel cells and battery-electric propulsion systems, powers the transition to zero-carbon vessels. Additionally, investment in renewable energy infrastructure, particularly offshore wind farms, supports the electrification of maritime transportation, driving sustainable development and economic growth across Asia-Pacific.

LAMEA (Latin America, Middle East, and Africa): In LAMEA regions, there is a strong focus on sustainable development, driving efforts to integrate zero-carbon shipping into broader sustainability agendas. Investment in green technologies and infrastructure plays a crucial role in reducing carbon emissions and enhancing environmental sustainability in maritime transportation. Collaborations with international partners for technology transfer and knowledge exchange further accelerate the adoption of zero-carbon shipping solutions, promoting economic growth and environmental stewardship in LAMEA.

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Browse the full “Zero-Carbon Shipping Market Size, Trends and Insights By Vessel Types (Cargo Ships, Tankers, Passenger Ships, Ferries, Specialized Vessels), By Technology Solutions (Hydrogen Fuel Cells, Ammonia Propulsion, Battery-Electric Propulsion, Wind-Assisted Propulsion, Biofuels, Solar Power, Nuclear Power, Others), By End-User Industries (Manufacturing, Oil & Gas, Agriculture, Retail, Passenger Transportation, Other Industries), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033“ Report at https://www.custommarketinsights.com/report/zero-carbon-shipping-market/

List of the prominent players in the Zero-Carbon Shipping Market:

Maersk
CMA CGM Group
Mediterranean Shipping Company (MSC)
NYK Line (Nippon Yusen Kaisha)
Hapag-Lloyd
Evergreen Marine Corporation
COSCO Shipping Lines
Mitsui O.S.K. Lines (MOL)
China Merchants Group
Kawasaki Kisen Kaisha (K Line)
Crowley Maritime Corporation
Stena AB
Wallenius Wilhelmsen
Grimaldi Group
Hyundai Merchant Marine (HMM)
Others

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Zero-Carbon Shipping Market: Zero-Carbon Shipping Market Size, Trends and Insights By Vessel Types (Cargo Ships, Tankers, Passenger Ships, Ferries, Specialized Vessels), By Technology Solutions (Hydrogen Fuel Cells, Ammonia Propulsion, Battery-Electric Propulsion, Wind-Assisted Propulsion, Biofuels, Solar Power, Nuclear Power, Others), By End-User Industries (Manufacturing, Oil & Gas, Agriculture, Retail, Passenger Transportation, Other Industries), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033

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The Zero-Carbon Shipping Market is segmented as follows:

By Vessel Types

Cargo Ships
Tankers
Passenger Ships
Ferries
Specialized Vessels

By Technology Solutions

Hydrogen Fuel Cells
Ammonia Propulsion
Battery-Electric Propulsion
Wind-Assisted Propulsion
Biofuels
Solar Power
Nuclear Power
Others

By End-User Industries

Manufacturing
Oil & Gas
Agriculture
Retail
Passenger Transportation
Other Industries

Click Here to Get a Free Sample Report of the Global Zero-Carbon Shipping Market @ https://www.custommarketinsights.com/report/zero-carbon-shipping-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

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What Is Zero-Carbon Shipping Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Zero-Carbon Shipping Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
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What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Zero-Carbon Shipping Industry?

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Zero-Carbon Shipping Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Zero-Carbon Shipping Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.

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Lastest news News

Shytoshi Kusama Touts Shiba Inu Lifetime Gains Of 33774726%: 'We Still Have Far To Go And Much Work To Be Done'

30.10.2024 by admin

Shytoshi Kusama, the mysterious lead of the Shiba Inu SHIB/USD ecosystem, highlighted the coin’s impressive growth since its launch and the work ahead to gain further recognition.

What Happened: On Tuesday, Kusama took to X to talk about the SHIB’s lifetime growth, which stood at a staggering 33,774,726.7% from its all-time low, higher than those of Dogecoin DOGE/USD, Solana SOL/USD, and Binance Coin BNB/USD.

The pseudonymous personality added that this wasn’t enough and efforts were in place to further enhance the ecosystem.

“So, don’t ignore Shib. Or do, until you can no longer,” Kusama said, pointing toward critics.

$SHIB Current Lifetime to Date (from all time low) 33,774,726.7%.

But again, I digress. We still have far to go and much work to be done to get the Ecosystem the respect it deserves and Treats out to the pack. So, don’t ignore Shib. Or do, until you can no longer. https://t.co/ZGyJotYpf2

— Shytoshi Kusama™ (@ShytoshiKusama) October 30, 2024

Why It Matters: Kusama’s post comes in the wake of a broader cryptocurrency market rally that witnessed Bitcoin BTC/USD come within touching distance of a new all-time high.

SHIB, the second-largest meme coin by market capitalization, has gained 83% this year, exceeding SOL’s spike of 77% but trailed behind DOGE and BNB, which were up 95% and 92%, respectively.

The people at the helm of affairs have been making attempts at transforming Shiba Inu into a serious decentralized blockchain project.

Recently, Shiba Inu announced a partnership with Mass, a financial solutions company, to build the finance layer of its ambitious “Shiba State.”

Price Action: At the time of writing, Shiba Inu was exchanging hands at $0.00001901, up 2,60% in the last 24 hours, according to data from Benzinga Pro.

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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Altrio Launches First Unified Deal Execution Platform For Commercial Real Estate Brokers

30.10.2024 by admin

TORONTO, Oct. 30, 2024 /PRNewswire/ – Altrio, provider of Origin, the world’s leading real estate deal management software platform, is excited to announce the launch of a new version of Origin designed for investment sales and mortgage brokers.

Commercial real estate brokers have long relied on fragmented systems, manual workflows, and siloed information to manage complex transactions, with no way to support the many phases and facets of a real estate transaction in a single integrated system — until now.

A New Era for Commercial Real Estate Brokers

To outperform the competition, brokers rely on deep market knowledge, access to the right buyers, and the ability to provide exceptional client service. However, they are too often forced to rely on spreadsheets and cobbled together systems to manage critical data and stay on top of deal execution.

Origin changes the game by empowering brokers with a unified system that covers every stage of deal execution. By combining Pipeline Tracking, CRM, Market Data Management and Digital Deal Marketing, capabilities typically found in multiple point solutions, Origin gives brokers an unprecedented opportunity to simplify their workflows and centralize key data.

Designed in collaboration with leading institutional brokerage teams, Origin’s automation features allow brokers to track and execute every aspect of their deals in a single integrated platform, improving efficiency and ensuring nothing slips through the cracks.

The Future of Real Estate Capital Markets

“At Altrio, we see a future in which investors, lenders, brokers and sponsors execute deals online, not via email,” said Altrio CEO, Raj Singh. “We’re giving brokers a single platform to manage their business, end-to-end, allowing them to focus on building strong client relationships and getting deals done instead of getting bogged down by administrative tasks and data wrangling.”

About Altrio

Altrio is a leading global provider of software, data and services to real estate capital markets professionals. The company’s data-driven deal management platform, Origin, helps investors, lenders, brokers and sponsors harness proprietary and market data, automate business processes and close deals faster. Altrio was founded in 2020 and is headquartered in Toronto, Canada. For more information, visit altrio.com.

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Earnings News

Fosun Pharma Announces 2024Q3 Financial Results

30.10.2024 by admin

Revenue Exceed RMB30.9 Billion with R&D Expenditure RMB3.9 Billion

Continuing to Consolidate its Dominant Position In The fields of Breast Cancer and Lung Cancer

SHANGHAI, Oct. 29, 2024 /PRNewswire/ — On October 29, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma” or “the Group”; Stock Code: 600196.SH; 02196.HK), announced its operating performance for the first three quarters of 2024. From January to September 2024, Fosun Pharma achieved revenue of RMB30.91 billion, an increase of about 5.74% YoY after excluding COVID-related products. The net profit attributable to owners of the parent of the Group after deducting extraordinary gain or loss amounted to RMB1.84 billion, up by 24.58% YoY.

In 2024, Fosun Pharma will further focus on innovative drugs and high-value devices, and continue to promote lean operations, cost reduction, efficiency improvement, and asset rationalization to optimize assets and financial structure, actively promote supply chain management and operational efficiency, and achieve healthy operating cash flow. In the first three quarters of 2024, the net cash flow from operating activities of Fosun Pharma was RMB2.99 billion, a year-on-year increase of 21.33%; the management expense ratio decreased by 0.15 percentage points YoY; excluding the impact of newly acquired companies, management expenses decreased by approximately RMB300 million on the same basis.

Focusing on advantageous therapeutic areas with innovative R&D pipelines continue to advance

In terms of innovative R&D, Fosun Pharma continues to focus on advantageous pipelines to achieve efficient results and continuous implementation of innovative products. In the first three quarters of 2024, Fosun Pharma’s R&D expenditure totaled RMB3.92 billion. In particular, R&D expenses were RMB2.65 billion. In addition to independent R&D, the Group fully implemented an open R&D model, and incubated and invested in R&D projects by initiating/managing industrial funds and other diversified ways, so as to ensure the sustainability of innovation and R&D.

Fosun Pharma’s innovative drug business mainly covers the core therapeutic areas of solid tumors, hematological tumors and immuno-inflammatory diseases, with emphasis on the enhancement of the core technology platforms of antibody/ADCs, cellular therapy and small molecules, to create an open and global innovative R&D system, continuously enhance pipeline value, and promote the development and commercialization of its products.

In the field of tumor immunotherapy, on September 13, 2024, Fosun Pharma announced it will acquire the 50% stake in Fosun Kite and will wholly own Fosun Kite (now renamed as “Fosun Kairos”). In the future, Fosun Kairos will serve as the core platform of Fosun Pharma’s cell therapy, continue to focus on the field of tumor immunotherapy, as well as to promote the development and commercialization of existing licensed products, Axi-Cel (i.e. Fosun Kite’s marketed product “Yi Kai Da”) and Brexu-Cel (i.e. Fosun Kite’s pipeline project FKC889), in Chinese mainland, Hong Kong SAR and Macau SAR with Kite Pharma.

In the third quarter of 2024, Fosun Pharma’s multiple independently developed innovative products and pipeline clinical trial results were announced in industry conferences and journals, further consolidating its dominant position in the fields of hematological tumors, breast cancer, lung cancer and other tumors. Particularly, the interim analysis results of the Phase III study of Foritinib Succinate (SAF-189s), an innovative drug independently developed to treat ALK-positiveb advanced non-small cell lung cancer (NSCLC), were released during the 2024 World Conference on Lung Cancer (“WCLC”). The above-mentioned studies have found that the overall efficacy of Foritinib Succinate is good. Compared with crizotinib treatment, it can significantly improve PFS and reduce the risk of CNS progression. Its safety is controllable, and no new safety signals appeared after treatment. Faritinib Succinate is expected to break through the current clinical difficulties faced in the treatment of ALK-positive NSCLC and bring new treatment options to NSCLC patients.

The multicenter real-world study of Fosun Pharma’s self-developed serplulimab-based immunochemotherapy for extensive-stage small cell lung cancer was released at the 2024 WCLC. The ASTRUM-005R study provides additional empirical evidence to support the therapeutic value of serplulimab plus chemotherapy and complements the pivotal data from the ASTRUM-005 clinical trial. Additionally, during the reporting period, the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (EMA) issued a positive opinion recommending approval for Fosun Pharma’s self-developed serplulimab injection in combination with carboplatin and etoposide for the first-line treatment of adult patients with extensive-stage small cell lung cancer (ES-SCLC). The CHMP’s opinion will be submitted to the European Commission (EC) as a reference for marketing authorization approval.

Results of the phase 2 study of HLX22, an innovative anti-HER2 monoclonal antibody (mAb), in combination with Han Qu You (trastuzumab) and chemotherapy for the first-line treatment of HER2-positive advanced gastric/gastroesophageal junction (G/GEJ) cancer were presented on 2024 ESMO Gastrointestinal Cancers Congress (ESMO GI) and MED, a flagship clinical and translational research monthly journal by Cell Press. The results showed that add HLX22 to HLX02 (trastuzumab) and chemotherapy as first-line therapy improved efficacy in HER2-positive G/GEJ cancer patients with manageable safety.

In September 2024, Fosun Pharma announced the Biologics License Application (“BLA”) for the licensed product RT002 (DaxibotulinumtoxinA-lanm, Chinese trademark: 达希斐^®) for the temporary improvement in the appearance of moderate to severe glabellar lines associated with corrugator and/or procerus muscle activity in adult patients, was approved by the National Medical Products Administration (“NMPA”), becoming the first DaxibotulinumtoxinA-lanm approved for marketing in Chinese mainland. Additionally, the results of a Phase III multicenter, double-blind, placebo-controlled study conducted in China for the treatment of moderate to severe glabellar lines were published in the Journal of Plastic, Reconstructive & Aesthetic Surgery (JPRAS). The study demonstrates that the product provides durable efficacy and high safety in Chinese patients with moderate to severe glabellar lines.

Actively implementing share repurchases and increasing holdings with continuous efforts on enhancing ESG

Fosun Pharma, a company listed on both the A-share and H-share markets, and its controlling shareholder Fosun High Tech have actively engaged in share repurchases and increased holdings this year, demonstrating confidence in the Company’s future development and further boosting market confidence. In the first three quarters of 2024, Fosun Pharma spent approximately RMB127 million and approximately HKD66.9 million to repurchase around 5.68 million A shares and 5.47 million H shares respectively. As of now, the H Share Repurchase Plan is still valid. In addition, the controlling shareholder Fosun High Tech, has spent a total of approximately RMB101 million to increase its holdings of around 4.30 million A shares of Fosun Pharma, under the latest Shareholding Increase Plan.

Founded in 1994 and with three decades of development, Fosun Pharma has grown into a global innovation-driven pharmaceutical and healthcare industry group. The Company always regards innovation as its primary social responsibility, consistently focusing on unmet clinical needs, prioritizing innovative R&D, advancing the launch of innovative products, promoting drug accessibility and affordability, and driving high-quality corporate growth. Fosun Pharma maintained an A grade rating in MSCI ESG Ratings for three consecutive years and an A- rating in HSI ESG, ranking among the top tier in the healthcare industry for pharmaceuticals and biotechnology. It was also selected as a constituent of the Hang Seng (China A) Corporate Sustainability Benchmark Index (“HSCASUSB”), Hang Seng (China A) Corporate Sustainability Index (“HSCASUS”), and Hang Seng (Mainland and HK) Corporate Sustainability Index (“HSMHSUS”).

With its sustained excellence in innovation and global operational capabilities, Fosun Pharma has been recognized by multiple authoritative institutions in innovative R&D, ESG and other areas. The Company ranked in the top four of China’s 2023 Top 100 Pharmaceutical Industry, was included in the “China Best Managed Companies” List (BMC) for the second consecutive year and was listed in Forbes 2024 China ESG 50. In addition, the Company has actively introduced its independently developed artemisinin-based innovative products to Africa, providing a Chinese solution to the global fight against malaria. This initiative highlights the inclusive, diverse, and open nature of ESG and earned Fosun Pharma recognition as an “Inspirational ESG Case”, serving as a model for corporate ESG practices.

***

About Fosun Pharma

Founded in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd.* (“Fosun Pharma”; stock code: 600196.SH, 02196.HK) is a global innovation-driven pharmaceutical and healthcare industry group. Fosun Pharma directly operates businesses including pharmaceuticals, medical devices, medical diagnosis, and healthcare services. As a shareholder of Sinopharm Co., Ltd., Fosun Pharma expands its areas in the pharmaceutical distribution and retail business.

Fosun Pharma is patient-centered and unmet clinical needs-oriented. Through diversified and multi-level cooperation models such as independent research and development, cooperative development, license-in, and industrial investment, the company continues to enrich its innovative product pipeline and focus on differentiated product R&D with high-tech barriers, to continuously enhance the value of its pipeline. Fosun Pharma’s innovative products focus on core therapeutic areas such as solid tumors, hematologic tumors and immunity inflammation. It also strengthens core technology platforms such as antibodies/ADC, cell therapy, and small molecules.

Guided by the 4IN strategy (Innovation, Internationalization, Intelligentization, and Integration), Fosun Pharma adheres to the business philosophy of “Innovation for Good Health”, continues to promote innovative transformation, actively deploys internationalization, strengthens business focus by product lines, promotes integrated operations and efficiency improvement, and is dedicated to being the global leading integrator of pharmaceutical and healthcare innovation.

For more information, please visit the official website: www.fosunpharma.com

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Lastest news News

Google Bought YouTube For $1.65B And Now It Prints $50B In Revenue Just In 1 Year — Sundar Pichai Says Alphabet 'Leaning Into The Living Room Experience'

30.10.2024 by admin

YouTube, the video platform Google acquired for $1.65 billion in 2006, has generated $50 billion in combined advertising and subscription revenue over the past four quarters, marking a milestone in its evolution from a user-generated content site to a major streaming player.

What Happened: The achievement, announced during Alphabet Inc.‘s GOOGL GOOG third-quarter earnings call, reflects YouTube’s successful expansion into premium services and living room entertainment, competing directly with traditional television and streaming services.

“Together, YouTube TV, NFL Sunday Ticket and YouTube Music Premium are driving subscription growth for the platform,” said Sundar Pichai, CEO of Alphabet Inc., Google’s parent company. “We are leaning into the living room experience with multi-view and a new option for creators to organize content into episodes and seasons, similar to traditional TV.”

The platform has secured its position as the leading streaming service in the United States, according to Nielsen data. Philipp Schindler, Google’s chief business officer, reported that creators optimizing content for television viewing are seeing significant returns, with the number of creators earning the majority of their YouTube revenue from TV screens increasing by more than 30% year-over-year.

Sports content has emerged as a key growth driver. The platform’s Olympics coverage garnered over 12 billion views, with 850 million unique viewers watching more than 40 billion minutes of content.

Notably, 35% of Olympic content was viewed on television screens, highlighting YouTube’s successful transition to larger formats.

Why It Matters: The platform’s advertising business has also shown strong momentum, with upfront advertising commitments increasing approximately 20% year-over-year, according to Schindler.

These results contributed to Alphabet’s strong quarterly performance, with the company reporting overall revenue of $88.27 billion, a 15% increase year-over-year, exceeding Wall Street expectations of $86.31 billion.

Looking ahead, YouTube plans to integrate Google DeepMind‘s video generation model into YouTube Shorts later this year, furthering its investment in artificial intelligence and creator tools.

Price Action: Alphabet Inc Class A shares closed at $169.68 on Tuesday, up 1.78% for the day. In after-hours trading, the stock rose by an additional 5.80%. Alphabet Inc Class C shares ended the day at $171.14, climbing 1.66%. After hours, the stock advanced a further 5.89%. Year to date, Alphabet Class C shares have risen by 22.63%, according to data from Benzinga Pro.

Read Next:

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FIBRA Prologis Reduces Asset Management Fee Paid to its Manager

30.10.2024 by admin

MEXICO CITY, Oct. 30, 2024 /PRNewswire/ — FIBRA Prologis FIBRAPL, a leading owner and operator of Class-A industrial real estate in Mexico, announces that its Manager, Prologis Property México, S.A. de C.V., has agreed to reduce its Asset Management Fee (as defined in the Management Agreement entered into between FIBRA Prologis and the Manager), to the following structure:

Asset Management Fee based on fair market value of the portfolio

Current administration fee:		New administration fee:

Portfolio Value Range	bps	Portfolio Value Range	bps
USD$0 to $5bn	75	USD$0 to $5bn	70
Above $5bn	60	Above $5bn to $7.5bn	60
		Above $7.5bn	50


Effective date: March 1, 2024		Effective date: January 1, 2025

FIBRA Prologis and the Manager will enter into an amendment agreement to the Management Agreement to formalize this change so that it becomes effective beginning January 1, 2025.

“FIBRA Prologis is uniquely positioned to co-invest with its aligned Sponsor, which is a leader in the marketplace. This is the second management fee reduction within a 12-month period and, once it comes into effect, expense will be reduced in the first quarter. These actions further improve our expense efficiencies relative to peers, including internally managed companies,” said Jorge Girault, CFO of FIBRA Prologis.

*	The appraised value of assets under management of FIBRA Prologis is calculated pursuant to Clause 8.1(b) of the Management Agreement

ABOUT FIBRA PROLOGIS

FIBRA Prologis is a leading owner and operator of Class-A industrial real estate in Mexico. As of September 30, 2024, FIBRA Prologis was comprised of 514 logistics and manufacturing facilities in six industrial markets in Mexico totaling 89.5 million square feet (8.3 million square meters) of gross leasable area along with 165 buildings totaling 24.0 million square feet (2.2 million square meters) of non-strategic assets.

FORWARD-LOOKING STATEMENTS

The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact FIBRA Prologis financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to future financial results and how those results compare to FIBRA Prologis’ peers, expected changes to the management agreement, rent and occupancy growth, acquisition activity, development activity, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“FIBRA”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties, including risks of natural disasters, (ix) risks related to the coronavirus pandemic, and (x) those additional factors discussed in reports filed with the “Comisión Nacional Bancaria y de Valores” and the Mexican Stock Exchange by FIBRA Prologis under the heading “Risk Factors.” FIBRA Prologis undertakes no duty to update any forward-looking statements appearing in this release.

Non-Solicitation – Any securities discussed herein or in the accompanying presentations, if any, have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein or in the presentations, if and as applicable.

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Earnings News

Fiverr Announces Third Quarter 2024 Results

30.10.2024 by admin

Delivered both revenue and Adjusted EBITDA above guidance range: We continue to execute with focus and efficiency, delivering exceptional results amid a challenging macro environment. Our strategy to lean into value-added services to drive take rate expansion continues to pay off, and we continue to invest in going upmarket to unlock long-term growth opportunities.
Growing a high-quality buyer base: We continue to grow wallet share among our customers, with spend per buyer up 9% y/y in Q3’24. The recently rolled out Business Rewards Program on Fiverr Pro is showing promising signs to drive spending growth among larger customers, leading to more buyers spending over $10K on Fiverr annually.
Creating end-to-end experience to enable complex projects: We launched Dynamic Matching, an AI-powered tool to provide a seamless matching experience for buyers with complex job requirements. Together with Professions Catalog and Hourly-Based Contracts, we are enabling an end-to-end experience for businesses to search, find, and engage with talent for complex projects and longer duration.
Raising full-year guidance: The strong performance in Q3 gave us confidence to raise our full-year guidance range for both revenue and Adjusted EBITDA. This also translates into strong cash flow generation and puts us well on track to deliver the three-year targets on Adjusted EBITDA and free cash flow that we laid out last quarter.

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) — Fiverr International Ltd. FVRR, the company that is changing how the world works together, today reported financial results for the third quarter 2024. Additional operating results and management commentary can be found in the Company’s shareholder letter, which is posted to its investor relations website at investors.fiverr.com.

“Our strong Q3 results underscored the consistency of our execution and the resilience of our business. We have a clear strategy for driving growth catalysts amid the uncertain macro environment. The investments we made in strengthening our value-added product portfolio have clearly paid off, as we continue to diversify our business model and expand into a platform where businesses can lean into both technology and human experts,” said Micha Kaufman, founder and CEO of Fiverr. “In addition, we are laying critical product foundations for us to appeal to larger customers and projects, which we expect to unlock significant long-term growth opportunities down the road. The integration of GenAI technology allows us to develop groundbreaking products that were not possible before. I’m really proud of our team who work around the clock to build these amazing experiences for our customers.”

“I’m pleased to report an exceptional quarter with both top and bottom lines exceeding expectations. The strong results and our continued progress on profitability improvements put us well on track to achieve our three-year targets for Adjusted EBITDA and free cash flow,” said Ofer Katz, President and CFO of Fiverr. “With a strong balance sheet and free cash flow generation, we have ample cash to address outstanding convertible notes, while having sufficient liquidity to run our business, and additional capacity to return capital to our shareholders. We are fortunate to have the optionality and we will continue to execute a disciplined capital allocation strategy to drive long-term shareholder value.”

Third Quarter 2024 Financial Highlights

Revenue in the third quarter of 2024 was $99.6 million, compared to $92.5 million in the third quarter of 2023, an increase of 8% year over year.
Active buyers¹ as of September 30, 2024 was 3.8 million, compared to 4.2 million as of September 30, 2023, a decline of 9% year over year.
Spend per buyer¹ as of September 30, 2024 reached $296, compared to $271 as of September 30, 2023, an increase of 9% year over year.
Take rate¹ for the period ended September 30, 2024 was 33.9%, up from 31.3% for the period ended September 30, 2023, an increase of 260 basis points year over year.
GAAP gross margin in the third quarter of 2024 was 81.0%, a decrease of 270 basis points from 83.7% in the third quarter of 2023. Non-GAAP gross margin¹ in the third quarter of 2024 was 84.0%, a decrease of 120 basis points from 85.2% in the third quarter of 2023.
GAAP net income in the third quarter of 2024 was $1.4 million, or $0.04 basic and diluted net income per share, compared to $3.0 million net income, or $0.08 basic net income per share and $0.07 diluted net income per share in the third quarter of 2023.
Non-GAAP net income¹ in the third quarter of 2024 was $24.6 million, or $0.69 basic non-GAAP net income per share¹ and $0.64 diluted non-GAAP net income per share¹, compared to $22.6 million non-GAAP net income, or $0.59 basic non-GAAP net income per share¹ and $0.55 diluted non-GAAP net income per share¹, in the third quarter of 2023.
Net cash provided by operating activities in the third quarter of 2024 was $10.9 million. Net cash provided by operating activities, excluding one-time escrow payment for contingent consideration of $12.2 million, was $23.0 million in the third quarter of 2024, compared to $23.4 million in the third quarter of 2023.
Free cash flow in the third quarter of 2024 was $10.6 million. Free cash flow, excluding one-time escrow payment for contingent consideration of $12.2 million, was $22.7 million in the third quarter of 2024, compared to $23.1 million in the third quarter of 2023.
Adjusted EBITDA¹ in the third quarter of 2024 was $19.7 million, compared to $16.5 million in the third quarter of 2023. Adjusted EBITDA margin¹ was 19.7% in the third quarter of 2024, compared to 17.9% in the third quarter of 2023, representing a 180 basis points improvement y/y.

Financial Outlook

Our Q4’24 outlook and updated full-year 2024 guidance reflect the recent trends in our marketplace.

	Q4 2024	FY 2024
Revenue	$100.2 – $102.2 million	$388.0 – $390.0 million
y/y growth	9% – 12% y/y growth	7% – 8% y/y growth
Adjusted EBITDA⁽¹⁾	$19.5 – $21.5 million	$73.0 – $75.0 million

Conference Call and Webcast Details

Fiverr’s management will host a conference call to discuss its financial results on Wednesday, October 30, 2024, at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Fiverr’s Investor Relations website. An archived version will be available on the website after the call. To participate in the conference call, please register using the link here.

About Fiverr

Fiverr’s mission is to change how the world works together. We exist to democratize access to talent and to provide talent with access to opportunities so anyone can grow their business, brand, or dreams. From small businesses to Fortune 500, around 3.8 million customers worldwide worked with freelance talent on Fiverr in the past year, ensuring their workforces remain flexible, adaptive, and agile. With Fiverr Business Solutions, large companies can find the right talent and tools, tailored to their needs to help them thrive and grow. On Fiverr, you can find over 700 skills, ranging from programming to 3D design, digital marketing to content creation, from video animation to architecture.

Don’t get left behind – come be a part of the future of work by visiting fiverr.com, read our blog, and follow us on X, Instagram, and Facebook.

Investor Relations:
Jinjin Qian
investors@fiverr.com

Press:
Siobhan Aalders
press@fiverr.com

Source: Fiverr International Ltd.

CONSOLIDATED BALANCE SHEETS
(in thousands)

	September 30,			December 31,
		2024			2023
	(Unaudited)			(Audited)
Assets
Current assets:
Cash and cash equivalents	$	159,245		$	183,674
Marketable securities		215,649			147,806
User funds		159,326			151,602
Bank deposits		124,835			85,893
Restricted deposit		1,315			1,284
Other receivables		36,248			24,217
Total current assets		696,618			594,476

Long-term assets:
Marketable securities		164,149			328,332
Property and equipment, net		4,394			4,735
Operating lease right of use asset		5,761			6,720
Intangible assets, net		44,175			10,722
Goodwill		110,218			77,270
Other non-current assets		9,495			1,349
Total long-term assets		338,192			429,128

TOTAL ASSETS	$	1,034,810		$	1,023,604

Liabilities and Shareholders’ Equity
Current liabilities:
Trade payables	$	2,851		$	5,494
User accounts		148,288			142,203
Deferred revenue		19,606			11,047
Other account payables and accrued expenses		59,591			44,110
Operating lease liabilities		2,570			2,571
Total current liabilities		232,906			205,425

Long-term liabilities:
Convertible notes		457,220			455,305
Operating lease liabilities		3,337			4,482
Other non-current liabilities		16,861			2,618
Total long-term liabilities		477,418			462,405

TOTAL LIABILITIES	$	710,324		$	667,830

Shareholders’ equity:
Share capital and additional paid-in capital		701,490			640,846
Accumulated deficit		(379,031	)		(284,358	)
Accumulated other comprehensive income (loss)		2,027			(714	)
Total shareholders’ equity		324,486			355,774

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,034,810		$	1,023,604

CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and pfb share data)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
		2024			2023			2024			2023
	(Unaudited)						(Unaudited)
Revenue	$	99,628		$	92,532		$	287,815		$	269,873
Cost of revenue		18,893			15,075			50,365			46,373
Gross profit		80,735			77,457			237,450			223,500

Operating expenses:
Research and development		22,424			23,490			67,912			68,666
Sales and marketing		42,970			40,521			126,446			121,441
General and administrative		18,817			15,791			53,032			46,894
Total operating expenses		84,211			79,802			247,390			237,001
Operating loss		(3,476	)		(2,345	)		(9,940	)		(13,501	)
Financial income, net		6,881			5,678			22,044			13,249
Income (loss) before income taxes		3,405			3,333			12,104			(252	)
Income taxes		(2,052	)		(308	)		(6,696	)		(768	)
Net income (loss) attributable to ordinary shareholders	$	1,353		$	3,025		$	5,408		$	(1,020	)
Basic net income (loss) per share attributable to ordinary shareholders	$	0.04		$	0.08		$	0.14		$	(0.03	)
Basic weighted average ordinary shares		35,435,532			38,164,996			37,426,914			37,668,006
Diluted net income (loss) per share attributable to ordinary shareholders	$	0.04		$	0.07		$	0.14		$	(0.03	)
Diluted weighted average ordinary shares		36,205,992			41,389,621			38,188,945			37,668,006

CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
		2024		2023			2024		2023
	(Unaudited)					(Unaudited)
Operating Activities
Net income (loss)		1,353		3,025			5,408		(1,020	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		3,392		1,321			6,148		4,700
Exchange rate fluctuations and other items, net		(106	)	291			60		285
Amortization of premium and accretion of discount of marketable securities, net		(858	)	(123	)		(3,106	)	1,111
Amortization of discount and issuance costs of convertible notes		640		635			1,915		1,904
Shared-based compensation		18,464		17,557			55,922		51,906
Changes in assets and liabilities:
User funds		(3,032	)	(3,506	)		(7,724	)	(17,462	)
Operating lease ROU assets and liabilities		82		(151	)		(193	)	(563	)
Other receivables		(893	)	(3,509	)		(6,066	)	(6,256	)
Trade payables		(2,482	)	1,060			(3,062	)	(5,294	)
Deferred revenue		673		852			1,791		1,683
User accounts		2,794		2,956			6,085		16,311
Account payable, accrued expenses and other		2,735		2,781			6,869		7,480
Revaluation of Earn-out		143		–			143		–
Escrow payment for contingent consideration		(12,168	)	–			(12,168	)	–
Non-current liabilities		130		210			1,012		852
Net cash provided by operating activities		10,867		23,399			53,034		55,637

Investing Activities
Investment in marketable securities		–		(81,753	)		(30,734	)	(262,761	)
Proceeds from maturities of marketable securities		25,258		69,485			133,855		232,406
Investment in short-term bank deposits		(10,112	)	(43,138	)		(46,350	)	–
Proceeds from short-term bank deposits		1,862		–			8,213		15,613
Acquisition of business, net of cash acquired		(30,192	)	–			(39,355	)	–
Purchase of property and equipment		(290	)	(223	)		(977	)	(918	)
Capitalization of internal-use software and other		–		(44	)		(20	)	(57	)
Other non-current assets		(300	)	–			(300	)	–
Net cash provided by (used in) investing activities		(13,774	)	(55,673	)		24,332		(15,717	)

Financing Activities
Repurchases of common stock		(22,980	)	–			(100,081	)	–
Proceeds from exercise of share options		530		218			2,360		2,401
Tax withholding in connection with employees’ options exercises and vested RSUs		(240	)	(20	)		(20	)	(76	)
Repayment of debt to previous shareholder of the acquired business		(3,992	)	–			(3,992	)	–
Net cash provided by (used in) financing activities		(26,682	)	198			(101,733	)	2,325

Effect of exchange rate fluctuations on cash and cash equivalents		105		(286	)		(62	)	(249	)

Increase (decrease) in cash, cash equivalents and restricted cash		(29,484	)	(32,362	)		(24,429	)	41,996
Cash, cash equivalents and restricted cash at the beginning of period		188,729		162,247			183,674		87,889
Cash and cash equivalents at the end of period		159,245		129,885			159,245		129,885

KEY PERFORMANCE METRICS

	Twelve Months Ended
	September 30,
		2024	2023

Annual active buyers (in thousands)		3,773	4,164
Annual spend per buyer ($)		296	271

RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT
(in thousands, except gross margin data)


		Q3’23			Q4’23			Q1’24			Q2’24			Q3’24			FY 2022			FY 2023
	(Unaudited)																(Unaudited)			(Unaudited)
GAAP gross profit		$	77,457		$	76,029		$	78,076		$	78,639		$	80,735		$	271,418		$	299,529
Add:
Share-based compensation			632			633			678			499			514			2,520			2,497
Depreciation and amortization			731			709			613			791			2,415			6,065			3,253
Earn-out revaluation, acquisition related costs and other			–			–			–			–			11			–			–
Non-GAAP gross profit		$	78,820		$	77,371		$	79,367		$	79,929		$	83,675		$	280,003		$	305,279
Non-GAAP gross margin			85.2	%		84.6	%		84.9	%		84.4	%		84.0	%		83.0	%		84.5	%


RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP NET INCOME AND NET INCOME PER SHARE
(in thousands, except share and per share data)


		Q3’23			Q4’23			Q1’24			Q2’24			Q3’24			FY 2022			FY 2023
	(Unaudited)																(Unaudited)			(Unaudited)
GAAP net income (loss) attributable to ordinary shareholders		$	3,025		$	4,701		$	788		$	3,267		$	1,353		$	(71,487	)	$	3,681
Add:
Depreciation and amortization			1,321			1,287			1,150			1,606			3,392			10,185			5,987
Share-based compensation			17,557			16,792			19,020			18,438			18,464			71,755			68,698
Impairment of intangible assets			–			–			–			–			–			27,629			–
Earn-out revaluation, acquisition related costs and other			–			(359	)		9			109			1,273			(10,613	)		(359	)
Convertible notes amortization of discount and issuance costs			635			637			637			638			640			2,527			2,541
Taxes on income related to non-GAAP adjustments			–			–			–			(71	)		(290	)		–			–
Exchange rate (gain)/loss, net			98			42			128			(156	)		(221	)		(1,141	)		(131	)
Non-GAAP net income		$	22,636		$	23,100		$	21,732		$	23,831		$	24,611		$	28,855		$	80,417
Weighted average number of ordinary shares – basic			38,164,996			38,501,155			38,756,151			38,089,060			35,435,532			36,856,140			38,066,203
Non-GAAP basic net income per share attributable to ordinary shareholders		$	0.59		$	0.60		$	0.56		$	0.63		$	0.69		$	0.78		$	2.11

Weighted average number of ordinary shares – diluted			41,389,621			41,440,827			41,758,840			40,909,724			38,359,853			40,662,057			41,304,907
Non-GAAP diluted net income per share attributable to ordinary shareholders		$	0.55		$	0.56		$	0.52		$	0.58		$	0.64		$	0.71		$	1.95


RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA
(in thousands, except adjusted EBITDA margin data)

		Q3’23			Q4’23			Q1’24			Q2’24			Q3’24			FY 2022			FY 2023
	(Unaudited)																(Unaudited)			(Unaudited)
GAAP net income (loss)		$	3,025		$	4,701		$	788		$	3,267		$	1,353		$	(71,487	)	$	3,681
Add:
Financial expenses (income), net			(5,678	)		(6,914	)		(6,661	)		(8,502	)		(6,881	)		(3,624	)		(20,163	)
Income taxes			308			605			1,713			2,931			2,052			577			1,373
Depreciation and amortization			1,321			1,287			1,150			1,606			3,392			10,185			5,987
Share-based compensation			17,557			16,792			19,020			18,438			18,464			71,755			68,698
Impairment of intangible assets			–			–			–			–			–			27,629			–
Earn-out revaluation, acquisition related costs and other			–			(359	)		9			109			1,273			(10,613	)		(359	)
Adjusted EBITDA		$	16,533		$	16,112		$	16,019		$	17,849		$	19,653		$	24,422		$	59,217
Adjusted EBITDA margin			17.9	%		17.6	%		17.1	%		18.9	%		19.7	%		7.2	%		16.4	%


RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES
(In thousands)

		Q3’23			Q4’23			Q1’24			Q2’24			Q3’24			FY 2022			FY 2023
	(Unaudited)																(Unaudited)			(Unaudited)
GAAP research and development		$	23,490		$	22,054		$	23,633		$	21,855		$	22,424		$	92,563		$	90,720
Less:
Share-based compensation			6,227			5,836			6,836			5,897			5,273			23,828			24,310
Depreciation and amortization			196			191			201			193			190			801			799
Earn-out revaluation, acquisition related costs and other			–			–			–			–			700			–			–
Non-GAAP research and development		$	17,067		$	16,027		$	16,596		$	15,765		$	16,261		$	67,934		$	65,611

GAAP sales and marketing		$	40,521		$	39,767		$	42,152		$	41,324		$	42,970		$	174,599		$	161,208
Less:
Share-based compensation			3,392			3,166			3,436			3,389			3,605			17,196			13,304
Depreciation and amortization			314			309			264			553			721			2,889			1,601
Earn-out revaluation, acquisition related costs and other			–			–			–			–			67			(24	)		–
Non-GAAP sales and marketing		$	36,815		$	36,292		$	38,452		$	37,382		$	38,577		$	154,538		$	146,303

GAAP general and administrative		$	15,791		$	15,816		$	16,451		$	17,764		$	18,817		$	51,161		$	62,710
Less:
Share-based compensation			7,306			7,157			8,070			8,653			9,072			28,211			28,587
Depreciation and amortization			80			78			72			69			66			430			334
Earn-out revaluation, acquisition related costs and other			–			(359	)		9			109			495			(10,589	)		(359	)
Non-GAAP general and administrative		$	8,405		$	8,940		$	8,300		$	8,933		$	9,184		$	33,109		$	34,148


RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
(In thousands)

		Q3’23			Q4’23			Q1’24			Q2’24			Q3’24			FY 2022			FY 2023
	(Unaudited)																(Unaudited)			(Unaudited)
Net cash provided by operating activities		$	23,399		$	27,549		$	21,196		$	20,971		$	10,867		$	30,112		$	83,186
Purchase of property and equipment			(223	)		(135	)		(378	)		(309	)		(290	)		(1,198	)		(1,053	)
Capitalization of internal-use software			(44	)		(3	)		(20	)		–			–			(1,000	)		(60	)
Free cash flow		$	23,132		$	27,411		$	20,798		$	20,662		$	10,577		$	27,914		$	82,073

Key Performance Metrics and Non-GAAP Financial Measures

This release includes certain key performance metrics and financial measures not based on GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow, as well as operating metrics, including GMV, active buyers, spend per buyer and take rate. Some amounts in this release may not total due to rounding. All percentages have been calculated using unrounded amounts.

We define each of our non-GAAP measures of financial performance, as the respective GAAP balances shown in the above tables, adjusted for, as applicable, depreciation and amortization, share-based compensation expenses, contingent consideration revaluation, acquisition related costs and other, income taxes, amortization of discount and issuance costs of convertible note, financial (income) expenses, net. Non-GAAP gross profit margin represents non-GAAP gross profit expressed as a percentage of revenue. We define non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by GAAP weighted-average number of ordinary shares basic and diluted. We use free cash flow as a liquidity measure and define it as a net cash provided by operating activities less capital expenditures.

We define GMV or Gross Merchandise Value as the total value of transactions ordered through our platform, excluding value added tax, goods and services tax, service chargebacks and refunds. Active buyers on any given date is defined as buyers who have ordered a Gig or other services on our platform within the last 12-month period, irrespective of cancellations. Spend per buyer on any given date is calculated by dividing our GMV within the last 12-month period by the number of active buyers as of such date. Take rate is revenue for any such period divided by GMV for the same period.

Management and our board of directors use certain metrics as supplemental measures of our performance that is not required by, or presented in accordance with GAAP because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items not directly resulting from our core operations. We also use these metrics for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and capital expenditures and to evaluate our capacity to expand our business. In addition, we believe that free cash flow, which we use as a liquidity measure, is useful in evaluating our business because free cash flow reflects the cash surplus available or used to fund the expansion of our business after the payment of capital expenditures relating to the necessary components of ongoing operations. Capital expenditures consist primarily of property and equipment purchases and capitalized software costs.

Free cash flow should not be used as an alternative to, or superior to, cash from operating activities. In addition, Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share as well as operating metrics, including GMV, active buyers, spend per buyer and take rate should not be considered in isolation, as an alternative to, or superior to net income (loss), revenue, cash flows or other performance measure derived in accordance with GAAP. These metrics are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Management believes that the presentation of non-GAAP metrics is an appropriate measure of operating performance because they eliminate the impact of expenses that do not relate directly to the performance of our underlying business.

These non-GAAP metrics should not be construed as an inference that our future results will be unaffected by unusual or other items. Additionally, Adjusted EBITDA and other non-GAAP metrics used herein are not intended to be a measure of free cash flow for management’s discretionary use, as they do not reflect our tax payments and certain other cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized. Management compensates for these limitations by relying on our GAAP results in addition to using Adjusted EBITDA and other non-GAAP metrics as supplemental measures of our performance. Our measure of Adjusted EBITDA, free cash flow and other non-GAAP metrics used herein is not necessarily comparable to similarly titled captions of other companies due to different methods of calculation.

See the tables above regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.

We are not able to provide a reconciliation of Adjusted EBITDA and Adjusted EBITDA margin guidance for the fourth quarter of 2024 and the fiscal year ending December 31, 2024, and long term to net income (loss), the nearest comparable GAAP measure, because certain items that are excluded from Adjusted EBITDA and Adjusted EBITDA margin cannot be reasonably predicted or are not in our control. In particular, in the case of Adjusted EBITDA and Adjusted EBITDA margin, we are unable to forecast the timing or magnitude of share based compensation, amortization of intangible assets, impairment of intangible assets, income or loss on revaluation of contingent consideration, other acquisition-related costs, convertible notes amortization of discount and issuance costs and exchange rate income or loss, in each case, as applicable without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, GAAP measures in the future.

Forward Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance including our targets regarding Adjusted EBITDA, our expectation regarding certain benefits of our investments, our business plans and strategy, the growth of our business, AI services and developments, our product portfolio, our stock repurchase plan and expected shareholder value, our customer relationships and experiences, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: risks related to political, economic and military instability in Israel, including related to the war in Israel; our ability to successfully implement our business plan within adverse economic conditions that may impact the demand for our services or have a material adverse impact on our business, financial condition and results of operations; our ability to attract and retain a large community of buyers and freelancers; our ability to generate sufficient revenue to achieve or maintain profitability; our ability to maintain and enhance our brand; our dependence on the continued growth and expansion of the market for freelancers and the services they offer; our dependence on traffic to our website; our ability to maintain user engagement on our website and to maintain and improve the quality of our platform; our operations within a competitive market; our ability and the ability of third parties to protect our users’ personal or other data from a security breach and to comply with laws and regulations relating to data privacy, data protection and cybersecurity; our ability to manage our current and potential future growth; our dependence on decisions and developments in the mobile device industry, over which we do not have control; our ability to detect errors, defects or disruptions in our platform; our ability to comply with the terms of underlying licenses of open source software components on our platform; our ability to expand into markets outside the United States and our ability to manage the business and economic risks of international expansion and operations; our ability to achieve desired operating margins; our ability to comply with a wide variety of U.S. and international laws and regulations; our ability to attract, recruit, retain and develop qualified employees; our reliance on Amazon Web Services; our ability to mitigate payment and fraud risks; our dependence on relationships with payment partners, banks and disbursement partners; and the other important factors discussed under the caption “Risk Factors” in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on February 22, 2024, as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. In addition, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all 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 that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

¹ This is a non-GAAP financial measure or Key Performance Metric. See “Key Performance Metrics and Non-GAAP Financial Measures” and reconciliation tables at the end of this release for additional information regarding the non-GAAP metrics and Key Performance Metrics used in this release.

Day: October 30, 2024

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