Fintech PR
Appier reports accelerated operating profit growth and record-high revenue in Q2
Operating profit increased by 4.4 times year-on-year and by 6.4 times on an FX-neutral basis, demonstrating strong revenue outperformance in key regions
TOKYO, Aug. 14, 2024 /PRNewswire/ —
Highlights and achievements of Q2 FY24
- Achieved a record-high revenue of JPY 8.2 billion, with a 32% YoY growth, driven by strong outperformance in key regions. NEA grew by 35%, while the US & EMEA grew by 65%, exceeding projections.
- Profitability surpasses plan. Operating profit surged 4.4 times YoY (6.4 times YoY on an FX-neutral basis), elevating the operating margin to 4.3% (6.7% on an FX-neutral basis).
- Initiated the first shareholder return through a share buyback, driven by the positive outlook for the second half of the year with improved profitability.
Profitability exceeded projections with the first-time shareholder return
Appier Group Inc (TSE: 4180), henceforth referred to as Appier, today announced its earnings results for the second quarter of fiscal year 2024. This quarter, Appier achieved a record-high revenue of JPY 8.2 billion, which grew 32% YoY, and a record-high gross profit of JPY 4.2 billion. Strong outperformance in NEA and US & EMEA highlights robust business momentum across key regions and verticals as the company heads into the second half of the year. Operating profit surpassed projections and quadrupled to JPY 351 million, with an operating margin of 4.3%. (6.4 times operating profit growth with an operating margin of 6.7% on an FX-neutral basis), reflecting Appier’s ongoing strong operating leverage, productivity improvements, and disciplined cost management.
Driven by a positive outlook in the second half of 2024, Appier has initiated its first-ever share buyback, demonstrating its commitment to shareholder returns while maintaining a solid foundation for future growth.
Strong outperformance in key regions, NEA and US & EMEA
NEA’s growth accelerated to 35% YoY, which was attributed to the expansion of existing key accounts in E-commerce through focused upsell strategies and new accounts from diversified verticals. US & EMEA achieved a high growth rate of 65% YoY on top of last year’s high growth, driven by the robust expansion of large enterprise customers in Digital Content and Other Internet Services. Appier continues its positive growth across the E-commerce and Digital Content sectors and expects continued business momentum in the second half of the year due to the higher seasonality[1] in these verticals. This positions the company on the right track for further profitable growth due to increased revenue scale, improved productivity, and continuous, disciplined expense control towards the end of the year.
Driving growth and profitability through strategic R&D and GenAI investment
Appier’s strategic investments in return-oriented R&D, including advancements in AI technology such as new Generative AI modules, enhance operating leverage in S&M and G&A, improve customers’ ROI, and drive sustainable business expansion. Generative AI has begun to deliver tangible business value. These early successes underscore its potential to drive long-lasting growth and solidify Appier’s competitive advantage.
Appier continuously expands its customer base with its historically lowest churn rate of 0.574%, demonstrating strong customer traction and stickiness to Appier’s solutions, ensuring robust and highly sustainable growth. Quarterly gross profit per headcount hit a record high of 5.82M with 23% YoY growth, further enhancing its productivity gains.
“Appier is a technology-focused company at the forefront of AI innovation, where relentless advancement in AI technology enables us to deliver ROI-driven solutions that generate better returns for customers. As a result, our business performance exceeded projections this quarter, showcasing the strength of our operating leverage as we scale effectively,” said Dr. Chih-han Yu, Appier’s CEO and Co-Founder.
A true AI organization: driving innovation, maximizing ROI, and leading the industry
Appier is uniquely positioned in the AI stack’s application layer, with its key strengths lying in a robust data moat, differentiated algorithm, and deep domain knowledge. Appier has innovated its products with GenAI capabilities across various directions to empower business growth, such as leveraging AI as an ROI driver, facilitating interaction by utilizing AI as the new UI, and boosting productivity through no-code, AI-enabled software. Internally, Appier strives to become a true AI-driven organization by integrating AI as a key driver in product development, improving customer management, and streamlining the operation process by standardizing workflows.
Appier continually invests in generative AI and has made technological breakthroughs with its pioneering work, such as inventing a framework for multiple Large Language Model (LLM) collaboration, incorporating real-time feedback data training to streamline processing capabilities and shorten the learning cycle, featuring self-reflection capabilities to seek human clarification and ensure more accurate answers. These strategic innovations not only reinforce Appier’s leadership in AI but also solidify its position as a frontrunner in the AI industry.
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[1] On the quarterly seasonality characteristics, Q2 and Q3 are high seasons for Digital Content, while Q3 and Q4 are high seasons for E-commerce. |
About Appier
Appier (TSE: 4180) is a software-as-a-service (SaaS) company that uses artificial intelligence to power business decision-making. Founded in 2012 with a vision of democratizing AI, Appier’s mission is turning AI into ROI by making software intelligent. Appier has 17 offices across APAC, Europe and US and is listed on the Tokyo Stock Exchange. Visit www.appier.com for more company information, and visit ir.appier.com/en/ for more IR information.
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Fintech PR
MarketsandMarkets Appoints Milan Rao as Chief Operating Officer and Chief Revenue Officer, Strengthening Apex Leadership in Line with Ambitious Growth Plans
DELRAY BEACH, Fla., Nov. 25, 2024 /PRNewswire/ — MarketsandMarkets, a prominent Indian-origin startup recognized by Forbes as one of ‘America’s Best Management Consulting Firms 2023’, has appointed Milan Rao as its Chief Operating Officer (COO) and Chief Revenue Officer (CRO). Milan’s appointment comes as the company continues to scale its innovative AI-based knowledge platform and consulting capabilities and strengthens its apex leadership team, in preparation for its future growth trajectory.
Milan has joined MarketsandMarkets from a distinguished career in the industry, bringing over 25 years of expertise in driving operational excellence and revenue growth at global firms. He has held leadership roles at top-tier organizations, such as Wipro, GE Healthcare and Airtel, where he was instrumental in spearheading transformation strategies for clients in diverse sectors. Milan also has extensive experience in scaling startups and working with PE firms in accelerating growth for start-ups in high-potential markets.
Sandeep Sugla, Founder and CEO of MarketsandMarkets, expressed his enthusiasm for Milan’s appointment: “We are thrilled to partner with Milan in this leadership role. His wealth of experience across large global firms and start-ups is a perfect fit to drive our growth and scale ambitions, globally. Milan’s expertise will be invaluable, as we continue our mission to enable businesses to identify and capitalize on megatrends, such as AI, clean-tech, IoT, and blockchain, which will create transformative opportunities across industries like Technology, IT, Semiconductors, Healthcare, Life Sciences, Energy, Chemicals, Industrial and Automotive sectors.”
Milan’s leadership will be critical in navigating the ongoing global disruptions caused by these megatrends. According to MarketsandMarkets, new revenue sources amounting to approximately USD 25 trillion are expected to emerge by 2030, creating significant growth potential for clients. His dual role as COO and CRO will see him overseeing operational efficiencies, while driving sustainable revenue growth through innovative market strategies and partnerships.
“I’m excited to have joined a company that is at the forefront of identifying and analyzing real-time megatrend impacts across major sectors,” said Milan. “MarketsandMarkets’ AI-based platform is unique in its ability to provide actionable insights to global leaders, enabling them to adapt to and benefit from disruptive shifts. I look forward to building on this foundation and helping our 13,000 global clients stay ahead of the curve in an increasingly dynamic business environment.”
Milan holds an MBA from IIM Calcutta and a bachelor’s degree in computer science from IIT, BHU-Varanasi, and has undertaken an advanced management program from Harvard Business School. He is an active supporter of several social initiatives, focusing on education and healthcare for the underprivileged.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms, as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines — TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies — helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
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AMSTERDAM, Nov. 25, 2024 /PRNewswire/ — VERMEG, a leading provider of software solutions for the financial services industry, backed by Charterhouse Capital Partners, announces today it has entered into an agreement to sell its RegTech division “Agile” to Regnology, a renowned global expert in regulatory compliance. This strategic transaction aligns with VERMEG’s long-term vision to strengthen its focus on its core areas of expertise, Collateral Management and Insurance, while ensuring a promising future for the Agile team under Regnology’s leadership.
For decades, asset servicing has been a cornerstone of VERMEG’s operations, with a comprehensive portfolio that includes corporate actions (OST), Collateral Management, mutual funds (OPCVM), and life insurance. These core offerings have solidified VERMEG’s reputation as a trusted partner to financial institutions worldwide.
The acquisition of Lombard Risk in 2018 marked a pivotal moment in VERMEG’s history, enabling the company to expand into Anglo-Saxon markets and establish itself as the global leader in Collateral Management. This transformation was driven by the complementarity between VERMEG’s and Lombard Risk’s product portfolios and supported by the center of expertise established in Tunisia, which continues to play an instrumental role in VERMEG’s success.
Agile, VERMEG’s regulatory business division, has represented a distinct and specialized segment of the company, accounting for approximately 10% of its workforce. Over the years, Agile has evolved into a best-in-class modular and scalable SaaS platform that delivers end-to-end regulatory reporting solutions, from data ingestion, through calculation to last-mile reporting. Positioned as a high-performing entity in the complex regulatory environment, Agile has garnered industry recognition for its innovation and capabilities.
Through this transaction, Agile will join Regnology, a globally recognized leader in regulatory reporting and supervisory processes. This move enables Regnology to expand its international footprint and leverage the expertise and talent cultivated in Tunisia. The strategic partnership ensures service continuity while creating exciting opportunities for Agile and its team.
For VERMEG, the transaction represents a significant milestone in its strategy to concentrate on its core strengths. By consolidating its leadership in Collateral Management and Insurance, VERMEG will mobilize resources to pursue growth and deliver even greater value to its clients. This strategic realignment underscores VERMEG’s commitment to innovation and excellence in financial technology.
“This transaction aligns with VERMEG’s strategy to ensure long-term sustainability and success for both the company and its employees,” said Badreddine OUALI, co-CEO and Founder. At the same time, VERMEG can focus on strategic initiatives in its core Banking & Market Infrastructure and Insurance divisions, leveraging additional resources to deliver even greater value to our clients.”
About VERMEG
Founded in 1993, VERMEG provides software solutions to over 500 blue-chip clients in more than 40 countries across the banking, insurance, and wealth management industries. The company’s high-quality platform offers best-in-class tools to automate processes and drive digitalization in financial services. Headquartered in Amsterdam with offices in 16 countries, VERMEG employs over 1,000 people worldwide. For more information, visit www.vermeg.com.
About Regnology
Regnology is a leading global provider of innovative solutions for supervisory, regulatory and tax reporting. Over 35,000 financial institutions, 70 regulators and tax authorities rely on our solutions to streamline their processes, enhance data quality, and improve efficiency. Building on our unified data ingestion model, Regnology is uniquely positioned to support regulators in data collection and supervisory processes, and the regulated across the full regulatory reporting value chain. Leveraging the expertise of 900+ employees in 16 countries, we help clients navigate the complexities of an ever-evolving, data-intensive regulatory landscape.
For more information, visit www.regnology.net/.
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Contact:
Donia SAHLI [email protected]
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Fintech PR
Trust Wallet Integrates Binance Connect to Supercharge Fiat-to-Crypto Transactions, Expanding Access for Millions
DUBAI, UAE, Nov. 25, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet trusted by over 140 million users, has integrated Binance Connect, Binance‘s official fiat-to-crypto gateway, to streamline access to digital assets and enhance the user journey. This integration offers a seamless experience with direct access to peer-to-peer (P2P) services and robust fiat-to-crypto solutions, all within Trust Wallet’s efficient environment.
With Binance Connect, Trust Wallet users can now access over 300 cryptocurrencies at competitive rates, supported by Binance’s unparalleled liquidity and market reach. This integration streamlines the fiat-to-crypto experience, allowing transactions via credit and debit cards, bank transfers, Binance wallet balance, and Binance P2P trading.
Through this integration, Trust Wallet is enabling users to access a broad range of crypto services from trusted partner merchants, reducing barriers and making it easier for millions to connect to the world of Web3.
Trust Wallet currently supports seven fiat on-ramp solutions, and the addition of Binance Connect supercharges Trust Wallet’s capabilities offering its users a seamless, cost-effective, and accessible way to buy, sell, and manage cryptocurrencies directly within the wallet.
Key Benefits of Binance Connect Integration:
- Global Accessibility: Binance Connect expands on-ramp coverage to underserved regions, providing users worldwide with more ways to access cryptocurrencies.
- Effortless Onboarding: Binance KYC-verified users enjoy faster access to P2P and fiat services within Trust Wallet, eliminating the need for additional checks.
- Cost Efficiency: P2P transactions via Binance Connect are generally more affordable than traditional payment methods, further promoting crypto adoption. Competitive P2P transaction fees make crypto more accessible and encourage regular use.
- Robust Currency Support: The integration supports 100+ fiat currencies, 300+ cryptocurrencies, and over 300 payment methods, including both traditional and alternative options.
Eowyn Chen, CEO of Trust Wallet, emphasized the significance of this integration:
“At Trust Wallet we keep working to make Web3 accessible to everyone. By collaborating with Binance Connect, we’re simplifying the journey into the on-chain world, particularly for users in regions where traditional financial infrastructure channels fall short. This integration is a game-changer for empowering self-custodial wallet users globally.”
“Trust Wallet’s integration of Binance Connect demonstrates the power of collaboration in advancing the Web3 ecosystem,” says Thomas Gregory, Vice President of Fiat at Binance. “Together, we are simplifying the user experience for millions worldwide, offering seamless transactions that make digital assets accessible, especially in regions where traditional financial systems face limitations.”
Trust Wallet users can begin using Binance Connect immediately by selecting it as their preferred payment method within the app. From setting up the wallet to completing transactions, the process is intuitive and seamless, regardless of experience level.
To explore the benefits of Binance Connect within Trust Wallet, download Trust Wallet today.
About Trust Wallet
Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it possible for millions of people around the world to experience Web3, access dApps, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.
About Binance Connect
Powered by Binance, Binance Connect is a comprehensive fiat-to-crypto solution that provides access to Binance’s global liquidity and an extensive array of payment methods. Its mission is to simplify access to cryptocurrencies and Web3 services worldwide.
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