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Eco Wave Power: Q3 sees a significant net loss decrease, with new orders increasing Q4 revenues. Progress in Israel, U.S., and Portugal’s commercial installation

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eco-wave-power:-q3-sees-a-significant-net-loss-decrease,-with-new-orders-increasing-q4-revenues-progress-in-israel,-us.,-and-portugal’s-commercial-installation

STOCKHOLM, Nov. 30, 2023 /PRNewswire/ — Eco Wave Power Global AB (publ) (“Eco Wave Power” or the “Company”) (Nasdaq: WAVE), a leading, publicly traded onshore wave energy technology company that has developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity, is pleased to report its financial results as of and for the three and nine months ended September 30, 2023 and provide a corporate update.

Management Commentary

During the third quarter of 2023, we achieved several key milestones:

·     In Israel, we successfully connected the EWP EDF One Project in the Port of Jaffa to the national electrical grid. We have also performed an initial grid connection test, which effectively supplied electricity extracted from the power of the waves to the Israeli national electric grid for the very first time. Currently, our focus is on upgrading the power plants’ automation system to enable optimal electricity production and supply to the grid. Additionally, we were awarded a GREENinMED grant from the European Union as part of the ENI CBC Mediterranean Sea Basin Programme. This grant is intended to enhance Eco Wave Power’s energy station by integrating educational features. This funding will support the creation and installation of unique educational experiences, transforming the EDF-EWP One wave energy power station into a distinctive tourist attraction and showcasing Israeli innovation.

·       Moreover, on September 22nd, 2023, Eco Wave Power was notified that a consortium of which we are a part won a UK grant in the total amount of GBP 1,499,644 (approximately $1.83 million), out of which Eco Wave Power share will be GBP 456,500 (approximately $558 thousand). The grant amount Eco Wave Power will be eligible for is GBP 319,550 (approximately $390,905).

·     At the Port of Los Angeles, we are proceeding with the licensing for the installation of our first U.S.-based project. Recently, a local engineering firm examined the integrity of the jetty and approved our construction design and assembly plans for the floaters to be installed on the jetty. With this approval, we submitted our comprehensive project plan to the port authorities and made a request for the final necessary licenses from the Port of Los Angeles and the Army Corps of Engineers. In addition, in the beginning of October 2023, California Governor Gavin Newsom signed California Senate Bill 605 (“SB 605”) into law – a historic moment for wave energy in America. The legislation directs the California Energy Commission to evaluate the feasibility of wave and tidal energy in California, including the costs and benefits of implementing the technology along the state’s coastline. This legislative initiative aligns with California’s goal of achieving a carbon-free energy grid by 2045. SB 605 recognizes the potential of wave and tidal energy to provide economic and environmental benefits and is expected to assist in our project’s progress and advance other potential projects in the U.S.
           

·     In Portugal, we received the last approval necessary for the commencement of the works of our first megawatt (MW) in the city of Porto (TURH license). The next steps include finalizing detailed construction plans for the first 1 MW power plan to be followed by commencing actual construction, which is expected to take up to 24 months. The Portuguese project is expected to be Eco Wave Power’s first MW scale project, which will position Eco Wave Power as a leading wave energy developer and serve as a significant milestone towards the commercialization of wave energy globally.

·     With respect to our new collaborations, as previously announced in Q2 report, we would like to update that our collaboration with Lian Tat Company (LTC) in Taiwan is progressing as planned. In October, the president of Taiwan visited LTC’s exhibition of Eco Wave Power’s technology in the Taipei Nangang International Exhibition Center and announced that the Taiwanese government will actively promote the development of forward-looking renewable energy, such as wave power.  Eco Wave Power and LTC are currently working towards EWP’s official visit to Taiwan and towards finding a first location for their planned joint wave energy pilot.

·     With the potential project in the port of Heraklion, Greece, Eco Wave Power has finalized the feasibility studies for the implementation of our technology in the port, in collaboration with Rogan Associates. The parties are currently working towards applying for a grant from the European Union to fund the execution of a 2MW wave energy project. In parallel, we have finalized feasibility studies for the implementation of Eco Wave Power’s technology on a breakwater in Morocco and on Chevron Corp’s offshore gas drilling platform in Israel. We have also commenced a new feasibility study, funded by a large-scale U.S. energy company, for wave energy potential in the U.S. and around strategic locations around the globe.

·     At the same time, the Company has shown a significant decrease in its Net Financial Loss for the 9 months of 2023, where Net loss was $1,052,000, compared to a net loss of $2,011,000, in the same period last year. , while announcing new orders, which will be recognized as revenues in the fourth quarter of 2023.

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“Although in these challenging times Eco Wave Power has prioritized the well-being of our employees in Israel, we have also stayed extremely focused on the continuity of our business growth and goals. We are proud to share that during the third quarter of 2023, we have made significant progress with all our existing projects while adding new projects and collaborations to our pipeline,

In the third quarter of 2023, Eco Wave Power officially commenced the test-run operation of our power station in the Port of Jaffa, Israel and is finalizing a civil engineering design that is getting us closer to the deployment of our first project in the Port of Los Angeles.  In addition, by securing the final requisite license for our first MW scale project in Portugal, we are striding with confidence towards our first commercial scale project in Porto, Portugal.

In parallel, we have also finalized feasibility studies for an installation of EWP’s innovative technology in a port in Morocco, on a gas drilling platform in Israel, and a feasibility study for a first of its kind 2MW project in the Port of Heraklion in Greece. We have also commenced a new feasibility study, ordered by a large scale US energy company, to examine wave energy potential in the U.S. and around the globe.

Now, more than ever, we remain strong, resilient, and deeply committed to advancing our wave energy projects.

First Nine Months 2023 Financial Overview

·     For the nine months ended September 30, 2023, revenues were $27,000 compared to $26,000 in the same period last year.

·     Operating expenses were $1.9 million, down by 33% from the same period last year.                

· Research and development (“R&D”) expenses were $383,000 compared to $755,000 in the same period last year. R&D costs decreased mainly due to a one off non-recurring loss of $278,000 pertaining to the disposal of the floater mechanisms of the Gibraltar wave energy array in 2022 and due to the relocation of the Gibraltar conversion unit to the Port of Los Angeles. Although our R&D expenses have significantly decreased during the last nine months, we expect our R&D expenses to materially increase due to the finalization of the EWP-EDF One project, the planned implementation of our first U.S. project in the Port of Los Angeles, and the implementation of our first commercial scale project in Portugal.      

· Sales and marketing expenses were $262,000 compared to $435,000 in the same period last year. Although our expenses have significantly decreased during the first nine months period, we expect that our sales and marketing expenses will materially increase as we add more projects to our project pipeline, which will result in the need for marketing in new areas of operation.       

· General and administrative expenses were $1,217,000 compared to $1,610,000 in the same period last year. Although our general and administrative expenses have significantly decreased during the first nine months period, we expect that our general and administrative expenses will materially increase as we grow our operations, specifically in terms of employee headcount, professional support and legal costs due to the finalization of the EWP-EDF One project, the planned implementation of our first U.S. project in the Port of Los Angeles, and the implementation of our first commercial scale project in Portugal.           

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· Other income of $14,000 was generated mainly from management fees in a joint venture.          

· Share of net loss of the EWP EDF One Project accounted for using the equity method for the nine months ended September 30, 2023 was $14,000.

·     Operating loss was $1.9 million compared to $2.8 million in the same period last year.

·     Net financial income was $802,000, compared to $783,000 in the same period last year.

·     Net loss was $1,052,000, or $0.02 per basic and diluted share, compared to a net loss of $2,011,000, or $0.05 per basic and diluted share in the same period last year.

·     The Company ended the period with $3.7 million in cash and cash equivalents and $5.1 million in short term bank deposits, compared to $5.3 million and $5 million, respectively, as of December 31, 2022.

Conference Call and Webcast Information

The Chief Executive Officer of Eco Wave Power, Inna Braverman will host a conference call to discuss the financial results and outlook on Tuesday, December 5, 2023, at 5 p.m. Eastern time.

• The dial-in numbers for the conference call are 888-506-0062 (toll-free) or 973-528-0011 (international).
   If requested, please provide participant access code: 802479

• The event will be webcast live, available at: at: https://www.webcaster4.com/Webcast/Page/2922/49564

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A replay will be available by telephone approximately four hours after the call’s completion until Tuesday, December 19, 2023. You may access the replay by dialing 877-481-4010 from the U.S. or 919-882-2331 for international callers, using the Replay ID 49564. The archived webcast will also be available on the investor relations section of the Company’s website.

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy technology company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves.

The Company completed construction of its grid connected project in Israel, with co-investment from the Israeli Energy Ministry, which recognized the Eco Wave Power technology as “Pioneering Technology.” The EWP-EDF One station project marks the first grid-connected wave energy system in Israeli history.

Eco Wave Power will soon commence the installation of its newest pilot in AltaSea’s premises in the Port of Los Angeles and its first MW scale wave energy power station in Portugal, Europe.

The Company also holds concession agreements for commercial installations in Europe and has a total projects pipeline of 404.7 MW.

Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program. The Company has also received the “Global Climate Action Award” from the United Nations.

Eco Wave Power’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market.

Read more about Eco Wave Power at www.ecowavepower.com

Information on, or accessible through, the websites mentioned above does not form part of this press release.

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For more information, please contact:

Inna Braverman, CEO
Inna@ecowavepower.com
+97235094017

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses the prospective use of the UK grant, that SB 605 is expected to assist the progress of its projects and advance other potential projects in the U.S, the next steps in the Portugal project and the expected timing thereof, the potential project in Morocco, that the LTC project is expected to create several economic benefits, the impending application for a grant to facilitate the project in Heraklion, Greece, the expected recognition of new orders as revenues in the fourth quarter of 2023, and the Company’s expectation that its research and development, sales and marketing and general and administrative expenses to materially increase, and the Company’s planned conference call to discuss these financial results. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will”, or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power’s control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading “Risk Factors” in Eco Wave Power’s Annual Report on Form 20-F for the fiscal year ended December 31, 2022 filed with the SEC on April 27, 2023, which is available on the on the SEC’s website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.

Eco Wave Power Global AB (publ)

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)

 

 

                                   

                                   

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September 30 2023

                                   

                                   

                                   

 

       December 31 2022                 

                                               

                                   

                                   

In USD thousands

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Assets

                                   

                                   

                                   

CURRENT ASSETS:

                                   

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Cash and cash equivalents

                                   

 

 

3,674

 

 

 

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5 295

 

                                   

                                   

Short Term Bank Deposits

                                   

 

 

5,108

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5 000

 

                                   

                                   

Restricted short-term bank deposits

                                   

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59

 

 

 

 

63

 

                                   

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Other receivables and prepaid expenses

                                   

 

 

211

 

 

 

 

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161

 

                                   

                                   

TOTAL CURRENT ASSETS

                                   

 

 

9,052

 

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10 519

 

                                   

                                   

NON-CURRENT ASSETS:

                                   

                                   

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Property and equipment, net

                                   

 

 

642

 

 

 

 

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722

 

                                   

                                   

Right-of-use assets, net

                                   

 

 

105

 

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166

 

                                   

                                   

Investments in a joint venture accounted for using the equity method

                                   

 

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496

 

 

 

 

510

 

                                   

                                   

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TOTAL NON-CURRENT ASSETS

                                   

 

 

1,243

 

 

 

 

1398

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TOTAL ASSETS

                                   

 

 

10,295

 

 

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11 917

 

                                   

                                   

Liabilities and equity

                                   

                                   

                                   

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CURRENT LIABILITIES:

                                   

                                   

                                   

Current maturities of long-term loans from related party

                                   

 

 

966

 

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941

 

                                   

                                   

Current maturities of other long-term loan

                                   

 

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65

 

 

 

 

32

 

                                   

                                   

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Accounts payable and accruals:

                                   

                                   

                                   

Trade

                                   

 

 

87

 

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75

 

                                   

                                   

Other

                                   

 

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879

 

 

 

 

733

 

                                   

                                   

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Current maturities of lease liabilities

                                   

 

 

90

 

 

 

 

78

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TOTAL CURRENT LIABILITIES

                                   

 

 

2,087

 

 

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1 859

 

                                   

                                   

NON-CURRENT LIABILITIES:

                                   

                                   

                                   

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Other long-term loan

                                   

Lease liabilities, net of current maturities

                                   

                                   

                                   

67

                                   

15

                                   

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96

                                   

88

                                 

                                               

                                   

                                   

TOTAL NON-CURRENT LIABILITIES

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82

 

 

 

 

184

 

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TOTAL LIABILITIES

                                   

 

 

2,169

 

 

 

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2 043

 

                                   

                                   

EQUITY:

                                   

                                   

                                   

Common shares

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98

 

 

 

 

98

 

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Share premium

                                   

 

 

23,121

 

 

 

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23 121

 

                                   

                                   

Foreign currency translation reserve

                                   

 

 

(2,754)

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(2 061)

 

                                   

                                   

Accumulated deficit

                                   

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(12,338)

 

 

 

 

(11 284)

 

                                   

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TOTAL EQUITY

                                   

 

 

8,126

 

 

 

 

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9 874

 

                                   

                                   

TOTAL LIABILITIES AND EQUITY

                                   

 

 

10,295

 

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11 917

 

 

 

 

Eco Wave Power Global AB (publ)

CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited)

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Three months ended

                                   

                                   

Nine months ended

                                   

                                   

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September 30

                                   

                                   

September 30

                                   

 

 

2023

 

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2022

 

 

2023

 

 

2022

 

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In USD thousands

                                   

                                   

In USD thousands

                                   

                                   

                                   

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REVENUES

                                   

 

 

27

 

 

 

 

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27

 

 

26

 

 

                                   

                                   

COST OF REVENUES

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19

 

 

 

 

 

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19

 

 

(22)

 

 

                                   

                                   

GROSS PROFIT

                                   

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8

 

 

 

 

 

8

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4

 

 

                                   

                                   

OPERATING EXPENSES

                                   

                                   

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Research and development expenses

                                   

 

 

(60)

 

 

 

(120)

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(383)

 

 

(755)

 

 

                                   

                                   

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Sales and marketing expenses

                                   

 

 

(69)

 

 

 

(135)

 

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(262)

 

 

(435)

 

 

                                   

                                   

General and administrative expenses

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(363)

 

 

 

(424)

 

 

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(1,217)

 

 

(1,610)

 

 

                                   

                                   

Other income

                                   

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5

 

 

 

3

 

 

14

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18

 

 

                                   

                                   

Share of net loss of a joint venture

                                   

                                   

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accounted for using the equity method

                                   

 

 

(4)

 

 

 

(6)

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(14)

 

 

(16)

 

 

                                   

                                   

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TOTAL OPERATING EXPENSES

                                   

 

 

(491)

 

 

 

(682)

 

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(1,862)

 

 

(2,798)

 

 

                                   

                                   

OPERATING LOSS

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(483)

 

 

 

(682)

 

 

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(1,854)

 

 

(2,794)

 

 

                                   

                                   

Financial expenses

                                   

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(15)

 

 

 

(11)

 

 

(41)

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(42)

 

 

                                   

                                   

Financial income

                                   

 

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305

 

 

 

113

 

 

843

 

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825

 

 

                                   

                                   

FINANCIAL INCOME (EXPENSES) – NET

                                   

 

 

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290

 

 

 

102

 

 

802

 

 

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783

 

 

                                   

                                   

NET LOSS

                                   

 

 

(193)

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(580)

 

 

(1,052)

 

 

(2,011)

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ATTRIBUTABLE TO:

                                   

                                   

                                   

The parent company shareholders

                                   

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(193)

 

 

 

(580)

 

 

(1,052)

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(2,011)

 

 

 

 

(193)

 

 

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(580)

 

 

(1,052)

 

 

(2,011)

 

 

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In USD

                                   

                                   

 

                                   

LOSS PER COMMON SHARE – BASIC AND DILUTED

                                   

 

 

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(0.004)

 

 

 

 

(0.01)

 

 

(0.02)

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(0.05)

 

                                   

                                   

WEIGHTED AVERAGE NUMBER OF COMMON SHARES USED IN CALCULATION OF LOSS

                                   

                                   

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      PER COMMON SHARE

                                   

 

44,394,844

 

 

44,394,844

 

 

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44,394,844

 

 

 

44,394,844

 

 

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Fintech PR

Rule 10b-5 Private Securities-Fraud Litigation Peaked in 4Q’24

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BETHESDA, Md., Jan. 10, 2025 /PRNewswire/ — SAR, a data analytics company specialized in the securities litigation risk of U.S. public companies, today published the Securities Class Action Rule 10b-5 Exposure Report for 4Q 2024. According to the report, securities litigation exposure of public company defendants that trade in the NYSE and NASDAQ peaked during the fourth quarter of 2024, when records were set across the buoyant U.S. equity markets. During the bullish market conditions of 2024, shareholders claimed approx. $665.2 billion in market capitalization losses due to alleged violations of Rule 10b-5 – the most in the last five years.

According to the report, global quarterly Rule 10b-5 securities litigation exposure in 2024 was 17% greater than the average of 2023. Actual monetary settlements with investor plaintiffs last year were, on average, 23% greater than during the last six years.

SAR data and analysis indicate that the litigation exposure of U.S. public company defendants amounts to approximately $380.3 billion in 2H 2024. Shareholders claimed approximately $4.0 billion in market capitalization losses per securities class action filing, and approximately $2.0 billion per allegedly fraud-related stock drop in 2H 2024. The former metric increased by 32.1%, and the latter by 15.4% during the second half of 2024.

“Our data and analyses indicate that securities litigation exposure against U.S. public companies peaked in the fourth quarter of last year. This peak may be short-lived with an expected increase in volatility and new headwinds for U.S. equities given greater shareholder scrutiny of corporate disclosures. With average Rule 10b-5 settlements over 20% greater in 2024 than during the last six years, litigation activity is expected to increase in 2025,” said Anthony Kabanek, EVP of SAR.

According to the report, in 2023 and 2024 investor plaintiffs claimed $13.6 billion and $20.5 billion, respectively, in private Rule 10b-5 securities-fraud class actions that relied on short-seller research.

Key takeaways:

  • 86 U.S. issuers were sued for alleged violations of Rule 10b-5 during 2H 2024. Based on allegations presented in the first-filed class action complaint against each defendant issuer, U.S. SCA Rule 10b-5 Exposure amounts to $259.4 billion. U.S. SCA Rule 10b-5 Exposure decreased -5.4% relative to 1H 2024.
  • U.S. SCA Rule 10b-5 Exposure peaked in the 2nd and 3rd quarters, followed by a decline to trend in the 4th quarter of 2024.
  • 9 Non-U.S. issuers were sued for alleged violations of Rule 10b-5 during 2H 2024. Based on allegations presented in the first-filed class action complaint against each defendant issuer, ADR SCA Rule 10b-5 Exposure amounts to $120.9 billion. ADR SCA Rule 10b-5 Exposure increased by 11.3x relative to 1H 2024.
  • An anomalously high 4th quarter exposure among Non-U.S. issuers contributed to a remarkably volatile year for ADR SCA Rule 10b-5 Exposure.

  • Rule 10b-5 private securities-fraud filing frequency and potential loss severity need not move in tandem. Global exposure increased by approximately 34% in the 2H 2024 relative to 1H 2024, while filing frequency remained relatively stable.
  • 38 U.S. Large Caps were sued for alleged violations of Rule 10b-5 in 2H 2024, the same observed frequency as 1H 2024. The U.S. Large Cap SCA Rule 10b-5 Exposure amounts to $233.7 billion, a decrease of 10.1% relative to 1H 2024.
  • 22 U.S. Mid Caps were sued for alleged violations of Rule 10b-5 In 2H 2024. The U.S. Mid Cap SCA Rule 10b-5 Exposure amounts to $19.8 billion, more than 3 times the amount in 1H 2024.
  • 26 U.S. Small Caps were sued for alleged violations of Rule 10b-5. The U.S. Small Cap SCA Rule 10b-5 Exposure amounts to $5.9 billion, a decrease of 33% relative to 1H 2024.
  • 9 Non-U.S. issuers that trade via ADRs in the U.S. public markets were sued for alleged violations of Rule 10b-5. The ADR SCA Rule 10b-5 Exposure increased by over 11.3x to ~$121 billion, relative to 1H 2024.

Media contact: info@sarlit.com

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Sobi’s full year 2024 revenue higher than previous estimate

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STOCKHOLM, Jan. 10, 2025 /PRNewswire/ — Swedish Orphan Biovitrum AB (publ) (Sobi®) (STO:SOBI) announces today that revenue for the full year 2024 was higher than previous estimate. Full-year revenue was approximately SEK 26,000 M, representing approximately 19% growth at constant exchange rate (CER) (1). Adjusted EBITA margin (1,2) was in the mid-30s per cent of revenues.

The main reasons for the increased revenue are higher sales than expected in Q4 across the Haemophilia portfolio and for Kineret.

  • Altuvoct: Higher than expected rate of new patients switching to Altuvoct in markets where the product has been launched, mainly Germany and Switzerland.
  • Elocta: Benefited from higher patient numbers across markets and in markets where Altuvoct is launched there were less switches than expected from Elocta. Favorable gross-to-net effects were also observed.
  • Alprolix: Higher than expected number of new patients as well as increase in on-demand treatments across Europe.
  • Kineret: Higher than expected sales driven mainly by positive gross-to-net adjustments and favorable order phasing but also supported by increased demand.
  • The adjusted EBITA margin remained in the expected range as the stronger revenue performance was offset by negative mix effects on the gross margin as well as investments into our launch and pipeline products in the fourth quarter.

At the publication of the Q3 2024 report on 24 October 2024 Sobi stated the outlook for the full year 2024 to be: Revenue was anticipated to grow by a mid-teens percentage at CER and adjusted EBITA margin was anticipated to be in the mid-30s per cent of revenue.

Sobi will announce its fourth quarter and full year 2024 report on Wednesday 5 February 2025 at 8:00 am CET.

About Sobi
Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology, and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia, and Australia. In 2023, revenue amounted to SEK 22.1 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn.

Contacts
For details on how to contact the Sobi Investor Relations Team, please click here. For Sobi Media contacts, click here.

This information is information that Sobi is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 18:00 CET on 10 January 2025.

Gerard Tobin
Head of Investor Relations

[1] Alternative Performance Measures (APMs).
[2] Excluding items affecting comparability (IAC).

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Knowledge Graph Market worth $6,938.4 million by 2030 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Jan. 10, 2025 /PRNewswire/ — The Knowledge Graph Market is expected to reach USD 6,938.4 million by 2030 from USD 1,068.4 million in 2024, at a Compound Annual Growth Rate (CAGR) of 36.6% from 2024–2030, according to new research report by MarketsandMarkets™.

The knowledge graphs ensure enterprise knowledge management through the rebuilding of complex data with interconnected nodes and relationships by providing a simpler way to navigate and retrieve information. It helps businesses build a fully comprehensive knowledge graph uniting disparate data sources, enables complex semantic search, context-aware recommendations, and data discovery. Knowledge graphs support better decision-making, foster innovation, and improve cooperation across teams by mapping relationships between organizational knowledge. They are particularly useful for large organizations, which depend on accessing and utilizing vast amounts of structured and unstructured data to be productive and competitive.

Browse in-depth TOC on “Knowledge Graph Market 

344 – Tables
51 – Figures
359 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2030

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Base year considered

2024

Forecast period

2024–2030

Forecast units

Value (USD Million)

Segments Covered

(solutions (enterprise knowledge graph platform, graph database engine, knowledge management toolset) services ( professional services, managed services) by model type (Resource Description Framework (RDF) Triple Stores, Labeled Property Graph (LPG)) by applications (data governance and master data management, data analytics and business intelligence, knowledge and content management , virtual assistants, self-service data and digital asset discovery, product and configuration management, infrastructure and asset management,  process optimization and resource management, risk management, compliance, regulatory reporting, market and customer intelligence, sales optimization, other applications) by vertical (Banking, Financial Services, and Insurance (BFSI), retail and eCommerce, healthcare, life sciences, and pharmaceuticals telecom and technology, government, manufacturing and automotive, media & entertainment, energy, utilities and infrastructure, travel and hospitality, transportation and logistics, other vertical)

Region covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

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Companies covered

IBM Corporation (US), Oracle (US), Microsoft Corporation (US), AWS (US), Neo4j (US), Progress Software (US), TigerGraph (US), Stardog (US), Franz Inc (US), Ontotext (Bulgaria), Openlink Software (US), Graphwise (US), Altair (US), Bitnine ( South Korea) ArangoDB (US),  Fluree (US), Memgraph (UK), GraphBase (Australia), Metaphacts (Germany), Relational AI (US), Wisecube (US), Smabbler (Poland), Onlim (Austria), Graphaware (UK), Diffbot (US), Eccenca (Germany), Conversight (US), , Semantic Web Company (Austria), ESRI (US)

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By vertical, the BFSI segment to hold the largest market size during the forecast period.

The knowledge graphs serve as a strong foundation for relating customer data, transactions history, credit scores, and risk profiles within the BFSI (Banking, Financial Services, and Insurance) sector, allowing the exact relationship mapping and insights. These are also employed in fraud detection through real-time identification of hidden patterns and for regulatory compliance with standards such as AML (Anti Money Laundering) and KYC (know Your Customer), where data can be traced and is transparent. In banking, knowledge graphs facilitate credit risk analysis which makes the process of loan approval more efficient, in insurance by linking policies, claims data, and fraud indicators thus optimizing claims processing. All these will, when combined with other data points, produce AI-powered applications: personalized advice-based solutions on finances and intelligent virtual assistants, which will create operational efficiency and improved customer experience in BFSI.

Virtual assistants, self-service data, and digital asset discovery segment to have the highest growth during the forecast period.

Knowledge graphs are essential for building virtual assistants, self-service data platforms, and even digital asset discovery, for they build interconnected data networks that help in enhancing the searchability and insights. Virtual assistants use knowledge graphs to provide context-sensitive responses that improve user interactions and provide tailored recommendations. Self-service data platforms use knowledge graphs to allow business users to access and analyze complex datasets without technical help, which helps them to make better decisions. They make the identification and classification of digital resources, such as documents or media, easier through linking metadata and content relationships for the discovery of digital assets. This capability enables effective resource management, innovation, and improvement in user experience in areas such as content creation, research, and enterprise workflows.

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Asia Pacific is expected to witness the highest market growth rate during the forecast period.

The knowledge graph landscape is rapidly evolving in Asia Pacific, with initiatives across various domains. In December 2022, the National Library Board (NLB), Singapore, launched a Linked Data-based Semantic Knowledge Graph to merge resources from libraries and archives using BIBFRAME and Schema.org vocabularies for seamless updating and improved data quality. HydroKG in Australia merges hydrologic data from resources such as GeoFabric and HydroATLAS that allow for pinpoint queries on water bodies and river networks, enabling better environmental management. Japan uses knowledge graphs in manufacturing for supply chain optimization and South Korea uses it in telecommunications to enhance the customer experience through personalized AI.

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Top Key Companies in Knowledge Graph Market

The major vendors covered in the Knowledge graph market are IBM Corporation (US), Oracle (US), Microsoft Corporation (US), AWS (US), Neo4j (US), Progress Software (US), TigerGraph (US), Stardog (US), Franz Inc (US), Ontotext (Bulgaria), Openlink Software (US), Graphwise (US), Altair (US), Bitnine ( South Korea) ArangoDB (US), Fluree (US), Memgraph UK), GraphBase (Australia), Metaphacts (Germany), Relational AI (US), Wisecube (US), Smabbler (Poland), Onlim (Austria), Graphaware (UK), Diffbot (US), Eccenca (Germany), Conversight (US), Semantic Web Company (Austria), ESRI (US), Datavid (UK), and SAP (Germany). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Knowledge graph market.

Browse Adjacent Markets: Information and Communications Technology Market Research Reports & Consulting

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