ATLANTA, April 22, 2024 (GLOBE NEWSWIRE) — DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading healthcare and human services provider to the federal government, will release financial results for the fiscal second quarter ended March 31, 2024 on May 1, 2024 after the market closes. DLH will then host a conference call for the investment community at 10:00 a.m. Eastern Time the following day, May 2, 2024, during which members of senior management will make a brief presentation focused on the financial results and operating trends. A question-and-answer session will follow.
Interested parties may listen to the conference call by dialing 888-347-5290 or 412-317-5256. Presentation materials will also be posted on the Investor Relations section of the DLH website prior to the commencement of the conference call. A digital recording of the conference call will be available for replay two hours after the completion of the call and can be accessed on the DLH Investor Relations website or by dialing 877-344-7529 and entering the conference ID 2520402.
About DLH DLH (NASDAQ: DLHC) enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by federal customers, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 3,200 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to innovative solutions to improve the lives of millions. For more information, visit www.DLHcorp.com.
INVESTOR RELATIONS Contact: Chris Witty Phone: 646-438-9385 Email: cwitty@darrowir.com
US stocks were mired in a broad sell-off on Friday, with the S&P 500 and Nasdaq Composite extending their losing streaks to six sessions despite easing concerns over a potential military escalation between Israel and Iran. The slide puts both indexes on pace for their worst weekly losses in months as investors continue repricing expectations around Federal Reserve rate policy.
The tech-heavy Nasdaq bore the brunt of the selling, dropping 1.3% as disappointing earnings from streaming giant Netflix exacerbated the rout in high-growth companies. The S&P 500 fell 0.4%, dragged lower by weakness in its information technology sector.
In contrast, the Dow Jones Industrial Average rose 0.7%, lifted by a massive post-earnings rally in American Express. But the divergent performance did little to soothe overall market jitters.
Netflix plummeted over 8% even after topping first-quarter profit and revenue estimates. The company’s decision to stop reporting paid subscriber metrics beginning in 2025 raised concerns on Wall Street about its ability to maintain its stratospheric growth trajectory.
The streaming industry bellwether’s slide reverberated across other pandemic winners. Chip stocks like Nvidia and data center firm Super Micro Computer tumbled 4% and 18% respectively, adding to this week’s brutal declines.
The technology-led selloff comes against a backdrop of unresolved global macro risks weighing on sentiment. Overnight, US equity futures careened lower and oil prices spiked after Israel launched airstrikes into Iran in retaliation for last week’s drone attacks.
However, markets appeared to take the muted response in stride as Friday’s session progressed. With neither side appearing eager to escalate the conflict further, crude benchmarks pared their earlier gains, while futures recovered most of their earlier losses.
Still, the flareup injected a fresh dose of geopolitical angst into markets already on edge over stubbornly high inflation and the implications for central bank policy tightening down the road. While no broader military conflagration has materialized yet, the smoldering tensions threaten to exacerbate existing supply chain constraints.
Ultimately, Wall Street’s immediate focus remains squarely on tackling decades-high consumer prices through aggressive monetary policy. And on that front, data continues to reinforce the challenges facing the Fed in bringing inflation back towards its 2% target.
This week’s string of hotter-than-expected readings, ranging from producer prices to housing costs, dimmed hopes for an imminent rate cut cycle central banks had been forecasting just months ago. Economists now don’t see the first Fed rate reduction until September at the earliest.
That policy repricing has piled pressure onto richly-valued growth and technology names which had rallied furiously to start the year. Year-to-date, the Nasdaq has now surrendered nearly all of its 2023 gains.
With the S&P 500 over 5% off its highs, earnings season takes on heightened importance for investors seeking reassurance that corporate profits can withstand further Fed tightening. So far, results have failed to provide much of a safety net with the majority of major companies reporting missing lowered expectations.
The deepening tech wreck underscores the dimming outlook for an already battered leadership group. Absent a decisive downtrend in inflation, markets could have more room to reset before finding their ultimate nadir.
Cross-Device Campaign Drove 363% Sales Lift and $67M in Incremental Sales Resulting in a 513X ROAS
NEW YORK, April 16, 2024 /PRNewswire/ — AdTheorent Holding Company, Inc. (Nasdaq: ADTH), a machine learning pioneer using privacy-forward solutions to deliver measurable value for programmatic advertisers, and Miles Partnership, a strategic marketing company focused exclusively on travel and tourism, today announced campaign results from the VISIT FLORIDA Sun Seekers digital advertising campaign. The campaign goal was to drive visitation to and purchases in Florida, as well as a positive return on ad spend (RoAS). Utilizing AdTheorent’s Destination Sales Lift 360, the campaign drove a 363% sales lift and $67M in incremental in-market sales and yielded an overall campaign RoAS of 513X.
The Approach: AdTheorent leveraged a mix of cross-device rich media display tactics, targeted using AdTheorent’s advanced predictive advertising platform. AdTheorent developed custom machine learning models fueled by non-individualized statistics to identify and reach consumers with the highest likelihood of visiting Florida and making purchases there.
During the campaign, AdTheorent’s custom predictive models considered hundreds of data signals to engage VISIT FLORIDA’S target audience, which included travel intenders residing in key geographies such as drive markets within 900 miles of the Florida border as well as competitive conquesting markets. AdTheorent’s custom predictive models considered data elements such as ad position, publisher, geo-intelligence, non-individualized user device attributes, location DMA, time of day, connection signal and many others. Additionally, the ML models analyzed real-time contextual signals to target consumers showing travel interest, as well as consumers specifically interested in travelling to alternative destinations. AdTheorent used transaction-based data to optimize campaign performance during the campaign, and, post-campaign, AdTheorent measured the impact of the campaign on sales within the destination, including attributed sales by merchant category (lodging, dining, etc.).
“VISIT FLORIDA is committed to not only driving visitation to Florida, but also showing the value of our marketing efforts and the impact they have on Florida’s tourism economy. Our digital advertising has to work harder for us by providing inspiration to visit and converting to sales,” said VISIT FLORIDA President and CEO Dana Young. “Our partnership with AdTheorent was successful at driving incremental visitation and commercial activity in Florida, measuring sales lift and resulting in an incredible return on ad spend for VISIT FLORIDA.”
The Results: The campaign was successful in identifying qualified consumers and driving purchases in Florida, resulting in:
$67M in incremental sales
363% sales lift compared to the control group
513X total campaign RoAS
Attributed incremental sales by top VISIT FLORIDA partner verticals included:
Restaurants and bars: 27%
Hotels: 17%
Food stores: 12%
Clothing stores: 8%
Interior furnishing stores: 5%
“Driving advanced business outcomes like incremental in-market sales is AdTheorent’s specialty; our machine learning-based media buying platform operates on a massive scale, evaluating millions of impressions per second based on 1000+ data attributes, identifying correlations among past conversions to optimize current ad targeting,” said James Lawson, CEO at AdTheorent. “We are thrilled to collaborate with Miles Partnership and proud that we drove meaningful incremental revenue for VISIT FLORIDA and its partners, delivering a 512.7X return on ad spend.”
About AdTheorent AdTheorent (Nasdaq: ADTH) uses advanced machine learning technology and privacy-forward solutions to deliver impactful advertising campaigns for marketers. AdTheorent’s machine learning-powered media buying platform powers its predictive targeting, predictive audiences, geo-intelligence, audience extension solutions and in-house creative capability, Studio A\T. Leveraging only non-sensitive data and focused on the predictive value of machine learning models, AdTheorent’s product suite and flexible transaction models allow advertisers to identify the most qualified potential consumers coupled with the optimal creative experience to deliver superior results, measured by each advertiser’s real-world business goals.
AdTheorent is consistently recognized with numerous technology, product, growth and workplace awards. AdTheorent was named “Best Buy-Side Programmatic Platform” in the 2023 Digiday Technology Awards and was honored with an AI Breakthrough Award and “Most Innovative Product” (B.I.G. Innovation Awards) for five consecutive years. Additionally, AdTheorent is the only seven-time recipient of Frost & Sullivan’s “Digital Advertising Leadership Award.” AdTheorent is headquartered in New York, with fourteen locations across the United States and Canada. For more information, visit adtheorent.com.
About Miles Partnership Miles Partnership is a strategic marketing consultancy focused exclusively on travel and tourism. The company works with more than 150 destinations, hospitality businesses and other travel industry clients worldwide to develop marketing and management strategies that amplify local experiences, boost visitation, improve community relations and increase overall economic impact. Learn more at www.MilesPartnership.com.
About VISIT FLORIDA VISIT FLORIDA, the state’s official tourism marketing corporation, serves as Florida’s official source for travel planning to visitors across the globe. VISIT FLORIDA is not a government agency, but rather a not-for-profit corporation created as a public/private partnership by the Florida Legislature in 1996.
Florida’s tourism industry was responsible for welcoming 122 million visitors in 2021, representing a 54 percent increase from 2020. In 2019, Florida visitors contributed $96.5 billion to Florida’s economy and supported over 1.6 million Florida jobs. According to the Office of Economic and Demographic Research, for every $1 the state invests in VISIT FLORIDA, $3.27 in state tax revenue is generated.
Each year, the Florida Legislature appropriates public funding to be allocated for tourism marketing. VISIT FLORIDA is required to match those public funds dollar-for-dollar, which is done by actively recruiting the state’s tourism industry to invest as Partners through cooperative advertising campaigns, promotional programs and many other marketing ventures. Through this public/private partnership, VISIT FLORIDA serves more than 13,000 tourism industry businesses, including major strategic alliance partnerships with Busch Gardens Tampa, Disney Destinations, Experience Kissimmee, Hilton, LEGOLAND Florida Resort, Publix Supermarkets, SeaWorld Parks & Resorts Orlando, and Universal Orlando Resort.
VISIT FLORIDA facilitates tourism industry participation in domestic and international travel trade and consumer shows, as well as media missions to the top global visitor markets. VISIT FLORIDA also works closely with travel agents, tour operators, meeting and event planners, and is responsible for operating Florida’s four Official Welcome Centers.
VISIT FLORIDA has 78 positions in Florida and an international team of contracted staff covering Canada, Germany, Latin America and the United Kingdom. VISIT FLORIDA’s corporate office is located at 101 North Monroe Street, Suite 900, Tallahassee, Florida 32301. The office can be reached at (850) 488-5607.
The technologies can help agencies and beneficiaries nationwide prevent EBT fraud targeting nutrition assistance and other cash-aid programs
FLORHAM PARK, N.J. — Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, has implemented technologies for the South Carolina Department of Social Services (SCDSS) to help combat fraud and further enhance the security of the state’s Electronic Benefits Transfer (EBT) program. In South Carolina and other states, EBT fraud targeting the Supplemental Nutrition Assistance Program (SNAP) and other cash benefits adds costs to government agencies and causes challenges for the recipients who depend on these benefits.
“Our agency is continually working with Conduent to deploy new strategies and safeguards to prevent our clients from becoming fraud victims.”
The fraud-reducing technologies are part of a suite of tools Conduent offers that can assist agencies and beneficiaries nationwide in protecting government aid for nutrition assistance, unemployment insurance and other cash-aid programs.
“SNAP beneficiaries rely on benefits to help supplement their monthly food budget to feed their families. When these benefits are stolen from them through fraud, that can result in less food on a family’s dinner table and hungry homes,” said Michael Leach, SCDSS State Director. “Our agency is continually working with Conduent to deploy new strategies and safeguards to prevent our clients from becoming fraud victims.”
Last year, Conduent implemented an advanced interactive voice response (IVR) system technology for South Carolina’s EBT customer service center that automatically identifies suspicious phone call patterns, such as an unusually high number of calls from a single phone number. When threats are identified, the technology can prevent access to EBT account information in real time.
South Carolina has also made an account protection feature available to beneficiaries, allowing them to easily and quickly lock and unlock their benefits card using Conduent’s ConnectEBT mobile app and cardholder portal. This feature, which applies to both in-state and out-of-state purchases, provides cardholders more control and security in managing their accounts and helps prevent perpetrators from gaining access to their benefits. Other states including Iowa, Maryland, New York and Ohio have also implemented this ConnectEBT feature.
In addition, for South Carolina, Conduent implemented the ability for cardholders to receive and manage usage alerts for identifying suspicious transaction activity on their EBT accounts. This feature can help beneficiaries monitor, spot and report the suspicious activity in real-time.
SCDSS says it will never send clients a text message about locking a card and requiring a SNAP recipient to contact a 1-888 number and provide the client’s EBT card number to unlock the benefits. To report suspicious activity or SNAP fraud, the public is encouraged to make a report to the USDA Office of the Inspector General at 1-800-424-9121 or online here.
“We’re proud and excited to bring these enhanced benefit protection features to South Carolina as well as other states,” said Wade Fairey, General Manager, Payments and Child Support Solutions at Conduent. “We’re providing agencies with security tools and technologies that help ensure states can most effectively serve their EBT constituents. These features are designed to help states curb unauthorized access to accounts and ensure that funds go to the intended benefits recipients.”
About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 59,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Trademarks Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it will release its first-quarter financial results on Thursday, May 9, 2024, at approximately 4:15 p.m., U.S. Eastern Time.
The firm will host a conference call with investors and industry analysts at 9 a.m., U.S. Eastern Time, the following day, Friday, May 10. Dial-in details are as follows:
The dial-in number for U.S. participants is +1 (800) 715-9871.
International participants should call +1 (646) 307-1963.
The security code to access the call is 7294332.
Participants are requested to dial in at least five minutes before the scheduled start time.
A recording of the conference call will be accessible on ISG’s investor relations page for approximately four weeks following the call.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Emerging Growth Public Consumer, Communications, Media, Technology (and more) Company Executive Presentations
Q&A Sessions Moderated by Noble’s Analysts and Bankers
Scheduled 1×1 Meetings with Qualified Investors
Noble Capital Markets, a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving emerging growth companies, is pleased to present the Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference, taking place June 26th and 27th, 2024. This virtual gathering is set to be an immersive experience, bringing together a unique blend of investors, industry leaders, and experts in the consumer, communications, media, and technology sectors.
Part of Noble’s Robust 2024 Events Calendar
The Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference is part of Noble’s 2024 event programming, featuring a range of c-suite interviews, in-person non-deal roadshows throughout the United States, two other sector-specific virtual equity conferences, and culminating in Noble’s preeminent in-person investor conference, NobleCon20, to be held at Florida Atlantic University in Boca Raton, Florida December 3-4. Keep an eye out for the official press release on NobleCon20 coming soon.
The Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference will feature 2 days of corporate presentations from up to 50 innovative public consumer, communications, media, and technology companies, showcasing their latest advancements and investment opportunities. Each presentation will be followed by a fireside-style Q&A session proctored by one of Noble’s analysts or bankers, with questions taken from the audience during the presentation. Panel presentations are planned, featuring key opinion leaders in these sectors, providing valuable insights on emerging trends. Scheduled one-on-one meetings with public company executives, coordinated by Noble’s dedicated Investor Outreach team, are also available to qualified investors.
Why Your Company Should Present
Looking to increase awareness in your company and increase liquidity? Paid participation in Noble’s investor conferences, both virtual and in-person, provides that opportunity, with a tailored experience aimed at delivering substantial value. After 40 years of serving emerging growth companies, and the investors who follow them, Noble has built an investor base eager to discover where the next success story lies.
Noble’s investor base is relevant and, in many cases, new to your company. Noble’s dedicated Investor Outreach team provides unmatched exposure to investors that can invest in your company, including small money managers, family offices, RIAs, wealth managers, self-directed investors, and institutions. Most of Noble’s investors specifically seek undervalued, overlooked, emerging investment opportunities.
The cost to present includes your corporate presentation with a Q&A session proctored by one of Noble’s analysts or bankers, a webcast recording, scheduled 1×1 meetings with qualified investors, and marketing on Channelchek.
Benefits for Investors
Hear directly from the c-suite of the next innovators in consumer, communications, media, and technology and learn about new investment opportunities. The Q&A portion of each presentation gives you the opportunity to have your questions answered during or after the proctored session. The planned panel presentations are sure to provide expert insight on growing trends in the healthcare space. And, for qualified investors, one-on-one meetings are available with company executives; scheduled by Noble’s dedicated Investor Outreach team. All from the comfort of your own desk, and at no cost.
One Stop Systems, Inc. (OSS) designs and manufactures innovative AI Transportable edge computing modules and systems, including ruggedized servers, compute accelerators, expansion systems, flash storage arrays, and Ion Accelerator™ SAN, NAS, and data recording software for AI workflows. These products are used for AI data set capture, training, and large-scale inference in the defense, oil and gas, mining, autonomous vehicles, and rugged entertainment applications. OSS utilizes the power of PCI Express, the latest GPU accelerators and NVMe storage to build award-winning systems, including many industry firsts, for industrial OEMs and government customers. The company enables AI on the Fly® by bringing AI datacenter performance to ‘the edge,’ especially on mobile platforms, and by addressing the entire AI workflow, from high-speed data acquisition to deep learning, training, and inference. OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A Transformational Year. 2023 was a transformational year for OSS. The low margin digital business went away, a new management team and Board members were installed, and the Company is now firmly focused on large and rapidly growing global markets driven by AI and ML.
4Q23 Results. Revenue totaled $13.2 million, slightly above our $13 million estimate, but down 28% y-o-y, reflecting the continued runoff of the Disguise business, which contributed $3.1 million of revenue in the year ago quarter. Gross margin, however, rose 640 basis points to 33.7%. OSS net loss was $277,560, or a loss of $0.01/sh in the quarter, compared to a net loss of $3.3 million, or a loss of $0.16/sh last year. Adjusted EPS was $0.01/sh compared to a net loss of $0.14/sh last year. We had forecasted a loss of $0.07/sh.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New T&W President. Thursday after the market close, Comtech announced the hiring of Jeff Robertson as the Company’s new President of the Terrestrial and Wireless Networks business segment. Prior to joining Comtech, Mr. Robertson served as President and CEO of Intrado Life Safety, a firm specializing in first responder technology in North America.
Significant News. We view the hiring of Mr. Robertson positively on a couple of fronts. First, Intrado is a direct competitor to Comtech and we expect Mr. Robertson to be familiar with Comtech’s T&W capabilities. Mr. Robertson’s choice of joining Comtech speaks positively about Comtech’s T&W business, in our view. Secondly, his hire indicates that top level executives still view Comtech as an attractive option to work, even given the recent challenges.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
The internet forum that helped launch the meme stock frenzy is now a multi-billion dollar public company itself. Reddit, the hugely popular online community made up of thousands of niche message boards, had a blockbuster stock market debut on Thursday.
Shares of Reddit, trading under the ticker RDDT on the New York Stock Exchange, skyrocketed 48% to close at $50.44, giving the company a lofty valuation of $9.5 billion. The explosive first day performance continues the hot streak for newly public tech companies in 2024 and underscores insatiable investor demand for businesses involved with artificial intelligence.
Reddit priced its initial public offering on Wednesday at $34 per share, raising around $750 million in the process with the company itself collecting $519 million. That IPO price was already at the top end of the expected range amid high demand, valuing Reddit at $6.5 billion on an exit from the private markets.
The robust valuation is a major achievement for Reddit, which was founded nearly 20 years ago in 2005 by the entrepreneur duo of Alexis Ohanian and current CEO Steve Huffman. For years, the site with its stark design and freewheeling discussion forums operated on a shoestring budget.
But Reddit’s popularity and influence exploded in recent years, fueled by the rise of viral meme culture and Internet subcultures. The company reported $804 million in revenue for 2023, up 20% from the prior year, as it started more aggressively monetizing the engaged audiences on its platform through advertising and other services.
While still unprofitable with a $90.8 million net loss last year, Reddit is now setting itself up as a major media and technology player by going public. It is the first major social platform to hit the public markets since Pinterest’s IPO in 2019.
“This is a huge milestone for Reddit and the team,” said CEO Steve Huffman, speaking to CNBC from the NYSE trading floor on the company’s debut day. “Our people and our community have built an internet culture that is now being embraced by the world.”
Reddit’s successful IPO provides an exit for some of the company’s longtime venture capital investors and big corporate backers like Tencent and Condé Nast’s parent company. But Huffman said Reddit also allocated a portion of shares in the IPO for its most devoted users and volunteer moderators who help run the site’s myriad discussion boards.
“The people make Reddit what it is,” said Huffman. “This is a chance for our most passionate folks to own a piece of that.”
Looking ahead, Reddit sees big growth potential in data licensing, particularly providing user content to artificial intelligence companies to train their language models and other software. The company revealed it has already inked data deals worth over $200 million in the next few years.
However, Reddit is facing a probe from the Federal Trade Commission over its practices of selling user data to AI firms. Regulators are examining whether proper disclosure was made to users about how their posts and comments would be monetized.
Privacy and safety issues are nothing new for Reddit, which has had to crackdown on toxic content and hate speech proliferating across its unruly message board communities. Huffman acknowledged those challenges, including the role Reddit played at the center of the meme stock mania that sent shares of GameStop and AMC soaring in bizarre market frenzies in 2021.
But as evidenced by its IPO haul, Reddit has still managed to attract both users and investors by providing an online home for all sorts of niche interests and subcultures to flourish – whether that’s stocks, cryptocurrencies, sports, hobbies, activism or adult content. And Reddit sees plenty of runway for growth by continuing to serve as the internet’s open marketplace of ideas.
“There are so many people around the world looking for their communities,” said Huffman. “We provide that, and we’re just getting started.”
Annual program recognizes women’s achievements in the digital world for the Americas, EMEA and Asia Pacific and India regions
STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, today announced that nominations are open for the third annual ISG Women in Digital Awards program, recognizing exceptional leadership among women in digital roles.
“ISG is delighted to open nominations for the 2024 ISG Women in Digital Awards program,” said Michael P. Connors, chairman and CEO, ISG. “We have been inspired by the women nominated for our 2022 and 2023 awards and excited by the levels of participation in every region. We look forward to recognizing another class of exceptional women in 2024.”
The awards program was launched in 2022 in the Americas, and expanded in 2023 to the Europe, Middle East and Africa (EMEA) and Asia Pacific and India regions. Last year, more than 330 exceptional women were nominated in all three regions and detailed in an ISG Women in Digital eBook.
An independent panel of judges for each region, drawn from the enterprise, provider and advisory communities, will evaluate nominations and select the 2024 winners in each region. Winners will be named in five categories:
Digital Innovator: for making a significant impact on an organization, business or client through creative use of digital solutions;
Rock Star Leader: for leading a major transformation with significant business impact and demonstrating exceptional leadership skills;
Women’s Advocate: for playing an active role guiding women to succeed in the digital world;
Rising Star: for demonstrating exceptional and continuous growth, with increasing levels of leadership, responsibility and sphere of impact, and
Digital Titan of the Year: recognizing the most outstanding “Woman in Digital” for 2024 in each region, chosen from all nominees.
In 2023, leaders with Johnson Controls, Kaiser Permanente, LTIMindtree, McKesson, the National Renewable Energy Laboratory, Amazon, Atos, Foundever, Kinseed, Unisys, ANZ Group Holdings, Australia Post, Silverlake Axis, Tech Mahindra and VicRoads were named ISG Women in Digital Award winners across the regions.
For 2024, the judging panel for the Americas will include Chris Putur, executive vice president, Technology and Operations, REI Co-Op (retired), and a member of the ISG Board of Directors; Kim Ewald Hurry, advisor relations leader, Kyndryl; Diane Schwarz, vice president and CIO, Johnson Controls, and Beth Thomas, partner, ISG Enterprise Change.
Pooja Arora, client partner, Tech Mahindra; Isabelle Roux-Chenu, corporate vice president, Capgemini (retired), and Lois Coatney, partner and president, ISG EMEA Sales and Consulting, will judge the EMEA awards.
Richa Vijayraj, PhD, director of ESG and Sustainability Transformation, Ramco Systems, and director, Impact HQ Australia, and Namratha Dharshan, chief business leader, ISG Provider Lens™, will be among the judges for the Asia Pacific and India awards.
Nominations may be submitted through the ISG Women in Digital Awards website through May 13. Winners will be announced during live virtual awards ceremonies on September 5 for the Americas; September 12 for EMEA, and September 19 for Asia Pacific and India.
“Women are making significant contributions in digital and technology roles,” said Kimberly Tobias, ISG director and program leader, ISG Women in Digital. “The ISG Women in Digital Awards celebrate their successes and the impact of their work, while aiming to encourage future generations to pursue careers in the digital world.”
The ISG Women in Digital Awards are part of the ISG Women in Digital community, established in 2018 to provide a platform to exchange practical advice and innovative ideas on diversity and advancement in the workplace. The community hosts a LinkedIn page, an ongoing ISG Digital Dish podcast series, and regular events for ISG employees and the greater IT and business services industry.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Refi Overhang. The uncertainty created by the refinancing is impacting business results. For the first time in six quarters, sequential revenue declined with quarterly revenue barely exceeding year ago levels. Lower Space and Satellite segment revenue reflects order delays and supply chain constraints largely stemming from the refi overhang. Lower R&D expenses and One Comtech savings, along with a one-time gain, resulted in positive operating income for the third consecutive quarter.
2Q24 Results. Revenue was $134.2 million, flat y-o-y and below guidance of up 1% – 3% sequentially. We were at $154 million. Adjusted EBITDA totaled $15.1 million, versus $11.3 million in 2Q23. We were at $18.9 million. Comtech reported a net loss of $30.5 million, or a loss of $1.07/s, compared to a net loss of $6.5 million, or $0.23/s last year. Adjusted loss was $0.15/sh versus EPS of $0.09. We had forecast a net loss of $950,000, or a loss of $0.03 per share, and adjusted EPS of $0.28.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Apple is making a concerted push to bring generative artificial intelligence capabilities to its core products and services, as evidenced by its recent acquisition of Canadian startup DarwinAI.
The iPhone maker purchased the AI company earlier this year, according to a report from Bloomberg. While Apple remained characteristically tight-lipped about the deal’s financial terms or strategic rationale, the move signals Apple is accelerating its efforts to match rivals like Microsoft and Google in deploying advanced AI across its offerings.
DarwinAI specialized in using artificial intelligence for visual inspection and analysis during the manufacturing process. Its technology served customers across multiple industries to automatically detect defects and anomalies in components through AI-powered computer vision models.
As part of the acquisition, dozens of DarwinAI employees have been absorbed into Apple’s artificial intelligence division, the report states. This influx of AI talent and technical expertise could prove critical as Apple looks to develop its own large language models and generative AI applications.
Alexander Wong, an AI researcher from the University of Waterloo who co-founded DarwinAI, has assumed a director role overseeing portions of Apple’s AI group. His background aligns with DarwinAI’s focus on building compact, efficient AI systems that can run on-device without constant cloud connectivity.
This thrust toward making AI work smoothly and privately on iPhones, iPads and Macs represents a key priority for Apple as it races to integrate generative AI across its mobile operating systems and productivity software over the next year.
At the company’s annual shareholder meeting in early March, CEO Tim Cook confirmed Apple’s intentions to “break new ground in generative AI in 2024,” citing the “breakthrough potential” and “transformative opportunities” it creates for enhancing user experiences around productivity, problem-solving and more.
Specific areas where Apple may deploy generative AI span Siri’s voice assistant capabilities, automated summarization in apps like Mail and Messages, and content creation tools within Pages, Keynote and other office productivity programs. The technology could even extend to areas like automated music playlist curation.
For the AppleCare product support team, generative AI may be leveraged to better assist customers troubleshoot technical issues by suggesting solutions based on conversational prompts. This could represent a major upgrade over today’s more manually intensive processes.
Ultimately, Apple’s biggest advantages revolve around its ability to build tighter hardware/software integration and maintain strict privacy guardrails unavailable to cloud-based rivals. The company aims to run its generative AI models directly on user devices rather than routing data to remote servers – a key differentiator from competitors like Microsoft and Google.
“We see incredible breakthrough potential for generative AI, which is why we’re currently investing significantly in this area,” Cook told shareholders.
Still, Apple faces an uphill battle catching up to the generative AI leaders. While the iPhone maker’s cautious approach focuses on curating secure AI experiences, companies like OpenAI, Anthropic and Google have rapidly advanced their public-facing products and pushed the boundaries of what’s possible with large language models.
Microsoft has already integrated AI co-pilots across its entire suite of Office apps and cloud services through partnerships with OpenAI, Anthropic and others. Google has made generative AI like Bard a centerpiece of its efforts to modernize search and productivity tools.
With developers and companies increasingly exploring AI customization and co-pilots that can streamline workflows, Apple may feel pressure to open up its ecosystem to third-party generative AI tools in the near future.
The DarwinAI acquisition represents an early step for Apple to transform itself into a formidable AI player. But just like the company’s iconic “Get a Mac” ads from years past, it may take some additional star power and rebranding to recast Apple as the face of consumer-friendly, privacy-focused artificial intelligence going forward.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Initiating Coverage. We are initiating coverage with an Outperform rating and a $9 price target. While our initial recommendation is based on a sum of the parts analysis, we believe that the shares will eventually reflect its attractive ongoing businesses following its current rationalization and streamlining of its portfolio.
A transitional story. Since spinning off from Xerox in 2017, the company has sold several businesses, changed key members of the management team and simplified the business. Importantly, in the second half of 2023, the company announced the divestitures of three businesses that are expected to close in the first half of 2024. While the transitional story is not complete, there appears to be light at the end of the tunnel.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
