Technology

Iridium Announces 2023 Results; Company Issues 2024 Outlook

Published

11 months ago

February 15, 2024

Extends estimate of useful life of satellites by five years

MCLEAN, Va., Feb. 15, 2024 /PRNewswire/ — Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”) today reported financial results for the fourth quarter and full-year 2023 and issued its full-year 2024 guidance. Net income was $38.0 million, or $0.30 per diluted share, for the fourth quarter of 2023, as compared to net loss of $0.8 million, or $0.01 per diluted share, for the fourth quarter of 2022. Operational EBITDA (“OEBITDA”)(1) for the fourth quarter was $114.1 million, as compared to $107.0 million for the prior-year period, representing a year-over-year increase of 7%. Net income benefitted from a year-over-year decrease in depreciation expense resulting from a change in the estimated useful lives of the Company’s satellites, an increase in tax benefit and continued growth in total commercial services revenue.

Iridium reported fourth-quarter total revenue of $194.7 million, which consisted of $148.0 million of service revenue and $46.7 million of revenue related to equipment sales and engineering and support projects. Total revenue was in line with last year’s comparable period and included an 8% increase in service revenue. Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, was 76% of total revenue for the fourth quarter of 2023.

The Company ended the quarter with 2,279,000 total billable subscribers, which compares to 1,999,000 for the year-ago period and is up from 2,236,000 for the quarter ended September 30, 2023. Total billable subscribers grew 14% year-over-year, driven by growth in commercial IoT.

Full-Year 2023 Iridium Business Highlights

For the full year, Iridium reported net income of $15.4 million, or $0.12 per diluted share, as compared to net income of $8.7 million, or $0.07 per diluted share, for 2022. The change primarily resulted from an increase in income tax benefit offset in part by an increase in interest expense related to the fees paid for the refinancing of our Term Loan and the increase in the Secured Overnight Financing Rate (SOFR), which is the benchmark interest rate of the Term Loan. The Company reported record total revenue in 2023 of $790.7 million, which was up 10% from the year-ago period. Total revenue included $584.5 million of service revenue and $206.2 million of revenue related to equipment sales and engineering and support services. OEBITDA for 2023 was $463.1 million, a 9% increase from $424.0 million in the prior year. Capital expenditures were $73.5 million for the full-year 2023.

“Iridium executed well in 2023, delivering another solid year of commercial services growth. Strength was broad based with subscriber growth across all commercial service lines,” said Matt Desch, CEO, Iridium. Desch added, “Our strong cash flow supported ongoing return of more than $310 million of capital to shareholders, including dividend payments of about $65 million in 2023.”

In the fourth quarter of 2023, Iridium conducted its annual evaluation of asset useful lives. The analysis considered the health of Iridium’s constellation, satellite performance and the successful launch of five in-orbit spares in 2023. As a result of this assessment, the satellites’ estimated useful lives have been extended by five years from 12.5 years to 17.5 years. The change will affect the timing of certain revenue and expense items.

Commenting on the change in estimated useful life of Iridium’s satellites, Desch said, “This action is a validation of our expectations for Iridium’s extended capex holiday.”

Fourth-Quarter Iridium Business Highlights

Service – Commercial

Commercial service remained the largest part of Iridium’s business, representing 62% of the Company’s total revenue during the fourth quarter. The Company’s commercial customer base is diverse and includes markets such as maritime, aviation, oil and gas, mining, recreation, forestry, construction, transportation and emergency services. These customers rely on Iridium’s products and services as critical to their daily operations and integral to their communications and business infrastructure.

Commercial service revenue was $121.5 million, up 10% from last year’s comparable period due to broad-based growth across all revenue lines.Commercial voice and data: Revenue was $55.6 million, up 12% from the year-ago period. Subscribers grew 3% from the year-ago period to 408,000. Average revenue per user (“ARPU”) was $45 during the fourth quarter, compared to $41 in last year’s comparable period, with the increase due primarily to higher access fees.Commercial IoT data: Revenue was $36.1 million, up 12% from the year-ago period. Subscribers grew 18% from the year-ago period to 1,709,000 customers, driven by continued growth in consumer personal communications devices. ARPU was $7.12 in the fourth quarter, compared to $7.50 in last year’s comparable period. The decrease in ARPU resulted primarily from customer mix, including the effect of the growing proportion of personal communications subscribers, who typically utilize lower ARPU plans.Commercial broadband: Revenue was $14.6 million, up 5% from $13.9 million in the year-ago period. ARPU was $294 during the fourth quarter, compared to $313 in last year’s comparable period, reflecting the increased prevalence of Iridium’s use as a companion service rather than primary.Hosted payload and other data service: Revenue was $15.2 million, up 3% from $14.7 million in the year-ago period. There was a year-over-year decrease in hosted payload revenue related to the change in the estimated useful lives of Iridium’s satellites described above that went into effect in the fourth quarter of 2023. This decrease was more than offset by higher precision location service revenues of which $2 million was non-recurring and resulted from an updated estimate on a customer contract.Iridium’s commercial business ended the quarter with 2,134,000 billable subscribers, which compares to 1,860,000 for the prior-year quarter and is up from 2,094,000 for the quarter ended September 30, 2023. IoT data subscribers represented 80% of billable commercial subscribers at the end of the quarter, an increase from 78% at the end of the prior-year period.

Service – U.S. Government

Iridium’s voice and data solutions improve situational awareness for military personnel and track critical assets in tough environments around the globe, providing a unique value proposition that is not easily duplicated.

Under Iridium’s Enhanced Mobile Satellite Services contract (the “EMSS Contract”), a seven-year, $738.5 million fixed-price airtime contract with the U.S. Space Force signed in September 2019, Iridium provides specified satellite airtime services, including unlimited global standard and secure voice, paging, fax, Short Burst Data®, Iridium Burst®, RUDICS and Distributed Tactical Communications System services for an unlimited number of Department of Defense and other federal government subscribers. Iridium also provides maintenance and support work for the U.S. government’s dedicated Iridium gateway under two other contracts with the U.S. Space Force. Iridium Certus® airtime services are not included under these contracts and may be procured separately for an additional fee.

Government service revenue remained flat at $26.5 million in the fourth quarter reflecting the contractual rate in the EMSS Contract.Iridium’s U.S. government business ended the quarter with 145,000 subscribers, which compares to 139,000 for the prior-year quarter and 142,000 for the quarter ended September 30, 2023. Government voice and data subscribers increased 3% from the year-ago period to 62,000 as of December 31, 2023. Government IoT data subscribers increased 5% year-over-year and represented 57% of government subscribers at year-end.

Equipment

Equipment revenue was $15.7 million in the fourth quarter compared to $39.3 million in the prior-year quarter.Equipment revenue totaled $105.1 million in 2023, compared to $134.7 million in 2022. In 2024, the Company expects equipment sales to be lower than 2023 and be more in line with periods prior to 2022 which experienced supply chain disruptions due to the pandemic.

Engineering & Support

Engineering and support revenue was $31.1 million during the fourth quarter, compared to $17.8 million in the prior-year quarter, primarily due to a rise in activity with the U.S. government.Engineering and Support revenue totaled $101.1 million in 2023, compared to $51.6 million in 2022. In 2024, the Company expects Engineering and Support revenue to increase from 2023 with ongoing work on the Space Development Agency contract.

Capital expenditures were $16.2 million for the fourth quarter, including $1.2 million in capitalized interest. The Company ended the fourth quarter with gross debt of $1.5 billion and a cash and cash equivalents balance of $71.9 million, for a net debt balance of $1.4 billion.

Iridium paid its fourth quarter dividend of $0.13 per common share on December 29, 2023. Total dividends paid to stockholders during 2023 totaled $64.8 million. The Board of Directors plans to increase the quarterly dividend to $0.14 per share starting with the second quarter 2024 dividend, which would result in a full-year dividend increase of 5.8%.

During the quarter ended December 31, 2023, the Company repurchased approximately 1.3 million shares of its common stock under its previously announced share repurchase program at a total purchase price of $51.6 million. As of December 31, 2023, $334.0 million remained available and authorized for repurchase under this program.

2024 and Longer-Term Outlook

The Company issued its full-year 2024 outlook and updated long-term guidance on cash taxes:

Total service revenue growth between 4% and 6% for full-year 2024. Total service revenue for 2023 was $584.5 million.Full-year 2024 OEBITDA between $460 million and $470 million. OEBITDA for 2023 was $463.1 million.Cash taxes of less than $10 million per year from 2024 through 2026. We now expect that the longer-term cash tax rate will move closer to the statutory rate in 2028.Net leverage below 2.5 times OEBITDA between 2026 and 2029 and falling below 2.0 times OEBITDA by the end of the decade, assuming the completion of the Company’s share repurchase authorization and the payment of quarterly dividends. Net leverage was 3.1 times OEBITDA at December 31, 2023.

(1) Non-GAAP Financial Measures & Definitions

In addition to disclosing financial results that are determined in accordance with U.S. GAAP, the Company provides Operational EBITDA, which is a non-GAAP financial measure, as a supplemental measure to help investors evaluate the Company’s fundamental operational performance. Operational EBITDA represents earnings before interest, income taxes, depreciation and amortization, income (loss) on equity method investments, net, and share-based compensation expenses. The Company considers the loss on early extinguishment of debt to be financing-related costs associated with interest expense or amortization of financing fees, which by definition are excluded from Operational EBITDA. Such charges are incidental to, but not reflective of, the Company’s day-to-day operating performance. Operational EBITDA does not represent, and should not be considered, an alternative to U.S. GAAP measurements such as net income or loss. In addition, there is no standardized measurement of Operational EBITDA, and the Company’s calculations thereof may not be comparable to similarly titled measures reported by other companies. The Company believes Operational EBITDA is a useful measure across time in evaluating its fundamental core operating performance. Management also uses Operational EBITDA to manage the business, including in preparing its annual operating budget, debt covenant compliance, financial projections and compensation plans. The Company believes that Operational EBITDA is also useful to investors because similar measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies in similar industries. As indicated, Operational EBITDA does not include interest expense on borrowed money, the payment of income taxes, amortization of the Company’s definite-lived intangible assets, or depreciation expense on the Company’s capital assets, which are necessary elements of the Company’s operations. Since Operational EBITDA does not account for these and other expenses, its utility as a measure of the Company’s operating performance has material limitations. Due to these limitations, the Company’s management does not view Operational EBITDA in isolation, but also uses other measurements, such as net income (loss), revenues and operating profit, to measure operating performance. Please refer to the schedule below for a reconciliation of consolidated GAAP net income (loss) to Operational EBITDA and Iridium’s Investor Relations webpage at www.iridium.com for a discussion and reconciliation of this and other non-GAAP financial measures. We do not provide a forward-looking reconciliation of expected full-year 2024 Operational EBITDA guidance as the amount and significance of special items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts.

Iridium Communications Inc.

Supplemental Reconciliation of GAAP Net Income (Loss) to Operational EBITDA

(In thousands)

Three Months Ended December 31,

Year Ended December 31,

2023

2022

2023

2022

GAAP net income (loss)

$ 38,023

$ (808)

$ 15,415

$ 8,722

Interest expense, net

19,114

18,100

90,387

65,089

Income tax (benefit) expense

(9,578)

(721)

(26,251)

292

Depreciation and amortization

52,787

75,745

320,000

303,484

Share-based compensation

11,955

12,102

57,455

43,729

Loss on extinguishment of debt

—

1,187

—

1,187

Loss on equity method investments

1,768

1,402

6,089

1,496

Operational EBITDA

$ 114,069

$ 107,007

$ 463,095

$ 423,999

Conference Call Information

As previously announced, the Company will host a conference call to discuss its results at 8:30 a.m. Eastern Time on Thursday, February 15, 2024. Callers should dial 1-412-902-6740 to access the call. The conference call will also be simultaneously webcast on Iridium’s Investor Relations webpage at www.iridium.com. An archive of the webcast will be available following the live conference call.

About Iridium Communications Inc.

Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its specialty broadband service, Iridium Certus. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.

Forward-Looking Statements

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Iridium’s expectations with respect to total service revenue growth, OEBITDA and cash taxes for 2024; net leverage and cash taxes over the longer-term; anticipated equipment sales and engineering and support service revenue for 2024; amount and timing of share repurchases and the payment of dividends, and expected revenues from its EMSS contract with the U.S. government. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding customer demand for Iridium’s products and services, including demand from the U.S. government; Iridium’s ability to maintain the health, capacity and content of its satellite constellation, and the development of and market for Iridium’s products and services, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on February 15, 2024, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements are based on information available to it as of the date of this press release and speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.

Iridium Communications Inc.

Condensed Consolidated Statements of Operations

(In thousands)

Three Months Ended December 31,

2023

2022

Revenue

Service revenue

Commercial

$ 121,513

$ 110,274

Government

26,500

Total service revenue

148,013

136,774

Subscriber equipment

15,662

39,252

Engineering and support service

31,065

17,810

Total revenue

194,740

193,836

Operating expenses

Cost of services (exclusive of depreciation and amortization)

45,279

31,341

Cost of subscriber equipment sales

10,335

25,630

Research and development

5,728

5,748

Selling, general and administrative

34,315

36,599

Depreciation and amortization

52,787

75,745

Total operating expenses

148,444

175,063

Operating income

46,296

18,773

Other expense, net

Interest expense, net

(19,114)

(18,100)

Loss on extinguishment of debt

—

(1,187)

Other income, net

3,031

387

Total other expense, net

(16,083)

(18,900)

Income (loss) before income taxes

30,213

(127)

Income tax benefit

9,578

721

Loss on equity method investments

(1,768)

(1,402)

Net income (loss)

$ 38,023

$ (808)

Operational EBITDA

$ 114,069

$ 107,007

Iridium Communications Inc.

Condensed Consolidated Statements of Operations

(In thousands)

Year Ended December 31,

2023

2022

Revenue

Service revenue

Commercial

$ 478,454

$ 428,721

Government

106,000

Total service revenue

584,454

534,721

Subscriber equipment

105,136

134,714

Engineering and support service

101,133

51,599

Total revenue

790,723

721,034

Operating expenses

Cost of services (exclusive of depreciation and amortization)

158,710

115,137

Cost of subscriber equipment sales

66,410

86,012

Research and development

20,269

16,218

Selling, general and administrative

143,706

123,504

Depreciation and amortization

320,000

303,484

Total operating expenses

709,095

644,355

Operating income

81,628

76,679

Other expense, net

Interest expense, net

(90,387)

(65,089)

Loss on extinguishment of debt

—

(1,187)

Other income, net

4,012

107

Total other expense, net

(86,375)

(66,169)

Income (loss) before income taxes

(4,747)

10,510

Income tax benefit (expense)

26,251

(292)

Loss on equity method investments

(6,089)

(1,496)

Net income

$ 15,415

$ 8,722

Operational EBITDA

$ 463,095

$ 423,999

Iridium Communications Inc.

Summary Revenue and OEBITDA Highlights

(In thousands)

Three Months Ended December 31,

Year Ended December 31,

2023

2022

% Change

2023

2022

% Change

Revenue

Service revenue(1)

Commercial service revenue

Voice and data

$ 55,649

$ 49,491

12 %

$ 219,242

$ 193,112

14 %

IoT data(2)

36,065

32,158

12 %

141,036

125,015

13 %

Broadband(3)

14,620

13,942

5 %

57,878

51,143

13 %

Hosted payload and other data service(4)

15,179

14,683

3 %

60,298

59,451

1 %

Total commercial service revenue

121,513

110,274

10 %

478,454

428,721

12 %

Government service revenue(5)

26,500

0 %

106,000

0 %

Total service revenue

148,013

136,774

8 %

584,454

534,721

9 %

Subscriber equipment

15,662

39,252

-60 %

105,136

134,714

-22 %

Engineering and support(6)

Commercial

1,746

3,553

-51 %

11,050

7,833

41 %

Government

29,319

14,257

106 %

90,083

43,766

106 %

Total engineering and support

31,065

17,810

74 %

101,133

51,599

96 %

Total revenue

$ 194,740

$ 193,836

0 %

$ 790,723

$ 721,034

10 %

Operational EBITDA

$ 114,069

$ 107,007

7 %

$ 463,095

$ 423,999

9 %

Other

Capital expenditures(7)

$ 16,202

$ 26,511

$ 73,487

$ 71,267

Net debt(8)

$ 1,428,130

$ 1,335,855

Cash and cash equivalents

$ 71,870

$ 168,770

Term Loan

$ 1,500,000

$ 1,504,625

Deferred financing costs

(17,510)

(17,440)

Term Loan, net

$ 1,482,490

$ 1,487,185

(1)

Service revenue consists of primarily subscription-based services which often generate a long-term recurring revenue stream from subscribers.

(2)

IoT data service provides a two-way short burst data transmission between Iridium Communications Inc.’s network and a telemetry unit, which may be located, for example, on a container in transit or a buoy monitoring oceanographic conditions.

(3)

Broadband is comprised of Iridium OpenPort® and Iridium Certus.

(4)

Hosted payload and other services consist primarily of services that do not have traditional billable subscribers. Hosted payload services consist of hosting and data services to our payload customers, Aireon and Harris. Other services include primarily Iridium Communications Inc.’s one-way satellite timing, location, and authentication services (STL) which provides position, navigation and timing technology.

(5)

Government service revenue consists of voice and IoT data subscription-based services provided to agencies of the U.S. government through prime contracts.

(6)

Engineering and support includes maintenance services to the U.S. government’s dedicated gateway and engineering services to assist customers in developing new technologies for use on Iridium Communications Inc.’s satellite system.

(7)

Capital expenditures based on cash spent in the respective period.

(8)

Net debt is calculated by taking the sum of the gross Term Loan B and gross drawn Revolving Facility, less cash and cash equivalents.

Iridium Communications Inc.

Subscriber Highlights

(In thousands, except ARPU)

As of December 31,

2023

2022

% Change

Billable Subscribers (1) (2)

Commercial

Voice and data, IoT data and Broadband service

Voice and data

408

397

3 %

IoT data

1,709

1,448

18 %

Broadband (4)

16.7

15.0

11 %

Total commercial voice and data, IoT data
and Broadband service

2,134

1,860

15 %

Government

Voice and data and IoT data service

Voice and data

3 %

IoT data

5 %

Total government voice and data and IoT
data service

145

139

4 %

Total billable subscribers

2,279

1,999

14 %

Three Months Ended December 31,

Year Ended December 31,

2023

2022

% Change

2023

2022

% Change

Net Billable Subscriber Additions

Commercial

Voice and data. IoT data and Broadband service

Voice and data

(2)

(4)

50 %

-59 %

IoT data

17 %

261

255

2 %

Broadband

0.2

0.3

-33 %

1.7

1.8

-6 %

Total commercial voice and data, IoT data
and Broadband service

24 %

274

284

-4 %

Government

Voice and data and IoT data service

Voice and data

(2)

150 %

(5)

140 %

IoT data

(4)

150 %

(3)

233 %

Total government voice and data and IoT
data service

(6)

150 %

(8)

175 %

Total net billable subscriber additions

64 %

280

276

2 %

Three Months Ended December 31,

Year Ended December 31,

2023

2022

% Change

2023

2022

% Change

ARPU (2) (3)

Commercial

Voice and data

$ 45

$ 41

10 %

$ 45

$ 42

7 %

IoT data

$ 7.12

$ 7.50

(5) %

$ 7.45

$ 7.89

(6) %

Broadband

$ 294

$ 313

(6) %

$ 305

$ 302

1 %

(1)

Subscribers as of the end of the respective period.

(2)

Billable subscriber and ARPU data is not applicable for Hosted payload and other data service revenue items and is excluded from presentation above.

(3)

Average monthly revenue per unit, or ARPU, is calculated by dividing revenue in the respective period by the average of the number of billable subscribers at the beginning of the period and the number of billable subscribers at the end of the period and then dividing the result by the number of months in the period.

(4)

Broadband is comprised of Iridium OpenPort® and Iridium Certus.

Investor Contact:

Press Contact:

Kenneth Levy

Jordan Hassin

Iridium Communications Inc.

+1 (703) 287-7570

+1 (703) 287-7421

ken.levy@iridium.com

jordan.hassin@iridium.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/iridium-announces-2023-results-company-issues-2024-outlook-302061072.html

SOURCE Iridium Communications Inc.

Technology

PIXIE LEGENDS: The First Fairy-Themed Trading Card Game Brings Enchantment to Kids Everywhere

Published

1 hour ago

January 4, 2025

PIXIE LEGENDS: A magical fairy trading card game offering screen-free fun, imaginative play, and enchanting adventures for kids.

TEL AVIV, Israel, Jan. 4, 2025 /PRNewswire-PRWeb/ — PIXIE LEGENDS, a brand-new fairy-themed trading card game, has launched, offering young girls and kids everywhere a captivating entry into the world of collectible card games. Designed specifically for children who love fairy tales, princesses, and magic, PIXIE LEGENDS provides a fresh alternative to the TCG (trading card game) landscape, historically dominated by themes more tailored to boys.

Bringing Screen-Free Fun and Magical Adventures for Young Girls

PIXIE LEGENDS was inspired by the creator’s vision to give young girls their adventure in the TCG world. Featuring a collection of fairy and fantasy characters from mystical worlds like Water, Nature, the Moon, and more, PIXIE LEGENDS encourages creativity, social interaction, and imagination—all while remaining screen-free.

✨ A Game of Collecting, Strategy, and Play ✨

PIXIE LEGENDS isn’t just a beautiful card game; it’s designed to be versatile and accessible for players of all ages. Kids can enjoy the game in various modes:

Fairy War Game – Battle with friends, using the cards’ powers to determine who holds the ultimate deck.Quartets Game – Gather and trade cards to create sets of themed fairy characters.Collection Mode – Trade, collect, and organize PIXIE LEGENDS cards in a special fairy-themed album, helping kids develop social skills and trading techniques.

✨ Pixie Worlds and Magical Characters ✨

PIXIE LEGENDS introduces children to five unique, colorful worlds filled with diverse fairies, each with its traits, strengths, and magical abilities:

Green World: Guardians of Nature who communicate with plants and animals.Blue World: Mystical Water Fairies who command the oceans and interact with marine life.Yellow World: Powerful Warrior Fairies symbolizing strength, courage, and love.Purple World: Fairies of Spiritual Energy, Fortune, and Cosmic Power.Silver World: Fairies who command the Weather and Moon, harnessing the forces of the skies.

Each card is crafted with beautiful artwork and classified by rarity, encouraging young players to explore the thrill of collecting common and rare characters.

✨ A Healthy, Screen-Free Activity ✨

PIXIE LEGENDS provides a refreshing, screen-free way for kids to socialize and play, especially when screen time is a concern for many parents. With its emphasis on collection, trading, and imaginative play, PIXIE LEGENDS helps children develop critical social and cognitive skills while fostering friendships and shared interests.

✨ Perfect for Birthdays and Playdates ✨

PIXIE LEGENDS isn’t just a game—it’s a magical experience perfect for girls’ birthdays and after-school playdates. Its enchanting fairy theme makes it an ideal centerpiece for birthday parties, where kids can bond over card battles, trades, and collections, creating lasting memories. For after-school activities, PIXIE LEGENDS offers an engaging, screen-free way for girls to socialize, fostering creativity and collaboration as they explore magical realms together. Parents love how it turns gatherings into moments of fun, learning, and imagination!

✨ Special Launch Offer ✨

To celebrate the release of PIXIE LEGENDS, customers can enjoy special launch prices on all PIXIE LEGENDS products, available exclusively on the official website at [insert website link]. This limited-time offer is the perfect opportunity for families and young collectors to begin their magical journey into the enchanting world of PIXIE LEGENDS.

🧚‍♂Enter the World of PIXIE LEGENDS🧚‍♂

✨ About PIXIE LEGENDS ✨

PIXIE LEGENDS was created by a team dedicated to enriching children’s play experiences. It provides a unique product that resonates with young girls who love fantasy, fairies, and adventure. With PIXIE LEGENDS, kids can collect, trade, and play in a world of imagination that celebrates creativity, connection, and magic.

For more information on PIXIE LEGENDS or to schedule an interview with the founder, please contact:

Neriad Hakak

CEO

FairiesAndBeyond.com

Media Contact

Neriad Hakak, eCommerce and So, 1 9496681585, info@fairiesandbeyond.com, FairiesAndBeyond.com

View original content to download multimedia:https://www.prweb.com/releases/pixie-legends-the-first-fairy-themed-trading-card-game-brings-enchantment-to-kids-everywhere-302340659.html

SOURCE PIXIE LEGENDS

Technology

WHAT NOT TO MISS AT CES 2025

Published

4 hours ago

January 4, 2025

World’s Most Powerful Tech Event Returns to Las Vegas January 7-10

ARLINGTON, Va., Jan. 4, 2025 /PRNewswire/ — CES® 2025, the world’s most powerful tech event, returns to Las Vegas, January 7-10, bringing together global companies, from top brands to innovative startups, industry executives, media, and government leaders.

What Not To Miss at CES® 2025. The world’s most powerful tech event returns to Las Vegas, January 7-10.

“We’re ready to DIVE IN to CES 2025. There is great momentum heading into the show with a record 3400+ Innovation Award submissions, over 4500 exhibitors including roughly 1400 startups, and 1100 speakers for over 300 conference sessions,” said Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)®, owner and producer of CES. “We are on track for an incredible show where attendees will see everything that is new in tech from the latest in AI and digital health to advanced mobility, smart communities, sustainability, and accessibility tech.”

DIVE IN to the CES 2025 Experience

CES App – Plan for and navigate CES 2025 with the official show app. Search “CES App” in your app store. New for CES 2025 is blue-dot navigation at the Las Vegas Convention Center (LVCC) and the Venetian.CES Tech Talk – Download and listen for the top trends expected at CES 2025.CES Creator Space, presented by Sony – A new space for storytellers – media and creators – to produce compelling content.

Top Trends

Artificial Intelligence: Generative AI is driving innovation. The entire AI ecosystem will be throughout CES, enhancing user experiences, increasing productivity, advancing health, and more.Exhibitor Examples: DeepX, EMD, LG, Lotte, Samsung, SiemensDigital Health: CES will showcase tech innovation across the entire spectrum of health, increasing longevity, lowering costs, and improving health equity and patient empowerment.Exhibitor Examples: AARP, EssilorLuxottica, Nuvilab, OnMed, Resmed, Variowell, WithingsEnergy Transition: Emerging technologies both drive and address the challenges of the energy transition. A new conference track on the energy transition will dive in to shaping a sustainable future while overcoming technical and scalability barriers.Exhibitor Examples: Eaton, Eneos, Hitachi, Qnovo, SK, WePower TechnologiesMobility: CES brings together the entire ecosystem of mobility—from passenger and autonomous cars to construction, agriculture, marine tech, and advanced air travel. The new stage in West Hall will showcase programming that envisions the future of mobility and explores how we can create a more sustainable and connected world.Exhibitor Examples: BMW, Brunswick, Caterpillar, Honda, John Deere, Oshkosh, Scout MotorsQuantum: Expect hardware, software, and AI using quantum mechanics to improve technologies and create new applications with enhanced security, sensing, and computing that will drive innovation forward. A new half-day of conference programming in partnership with Quantum World Congress will highlight these advancements.Exhibitor Examples: Cellid, Combat Capabilities Development Command (DEVCOM), Integrated Quantum PhotonicSustainability: Exhibitors will show technologies aimed at reducing emissions and improving energy efficiency, as well as innovations in sustainable and carbon-neutral materials.Exhibitor Examples: D-Carbonize, Exeger, Jackery, Panasonic

Must-See Keynotes and Presentations

Monday, January 6NVIDIA Founder and CEO Jensen Huang – 6:30 PM, Mandalay BayTuesday, January 7Panasonic Holdings Corporation Group CEO Mr. Yuki Kusumi, 8:30 AM, The VenetianCTA CEO and Vice Chair Gary Shapiro and CTA President Kinsey Fabrizio, 8:30 AM, The VenetianSiriusXM CEO Jennifer Witz, 11 AM, ARIAX Corp CEO Linda Yaccarino, 1:30 PM, The VenetianDelta Air Lines CEO Ed Bastian, 5 PM, SphereThis will mark the first CES keynote ever hosted at the groundbreaking venue.This keynote will have a different ticketing process and venue policies than other keynotes. For more information, visit ces.tech. Get the full Delta keynote experience at Sphere beginning at 3 PM when the doors open for an immersive and interactive exhibit in the venue’s Atrium to celebrate Delta’s 100-year journey. Following the keynote, Delta is thrilled to welcome multiple GRAMMY Award winning music icon Lenny Kravitz to the stage.Professional photography and videography will be available on Delta News Hub shortly after the keynote. Wednesday, January 8Volvo Group President and CEO Martin Lundstedt, 9 AM, The VenetianAccenture Chair and CEO Julie Sweet, 2 PM, The VenetianWaymo Co-CEO Tekedra Mawakana, Leaders in Technology Dinner *invite only

Top Conference Tracks

Accessibility – Discover innovation and technologies for people of all ages and abilities.

Accessibility and Mobility: Bridging the Gap, Tuesday, January 7, 11 AM, Venetian, LandoTech for Good: How Technology is Empowering Neurodivergent, Tuesday, January 7, 2 PM, Venetian, LandoEmpowering Independence: How AI is Improving Daily Lives, Tuesday, January 7, 3 PM, Venetian, Lando

CES Creator Space, presented by Sony – The stage at the CES Creator Space, sponsored by Pinterest and emceed by Shira Lazar, will feature three days of programming designed to help creators hone their craft. The area is open to credentialed media only.

State of the Creator Economy, Tuesday, January 7, 10:30 AM, CES Creator Stage, LVCC, Grand LobbyMeasuring Success in the Creator Economy, Thursday, January 9, 11:45 AM, CES Creator Stage, LVCC, Grand LobbyKeeping Sane: Mental Health in the Creator Economy, Thursday, January 9, 2:15 PM, CES Creator Stage, LVCC, Grand Lobby

Digital Health – Learn about the innovations that tackle major health challenges and empower consumers to take control of their health.

Health AI in 2030, Wednesday, January 8, 2 PM, Venetian, Marcello 4404Next Gen Wearable Tech, Thursday, January 9, 9 AM, Venetian, Marcello 4404Advancing Women’s Health: Innovations, Challenges, and Solutions, Thursday, January 9, 10 AM, Venetian, Level 4, Marcello 4404

Energy Transition – Explore how companies plan to address sustainable power solutions.

The Energy Infrastructure of the Future, Thursday, January 9, 9 AM, LVCC, N261Navigating the Energy Transition, Thursday, January 9, 10 AM, LVCC, N261The Key to Powering a Sustainable AI Revolution, Thursday, January 9, 11 AM, LVCC, N261

Great Minds – Explore the intersection of technology and humanity. Speakers featured in the Great Minds series include C-Suite executives, philanthropists, influencers, government leaders, entrepreneurs, venture capitalists, and more. Sessions include:

The New Era of the Automotive Ecosystem, Wednesday, January 8, 11 AM, LVCC West Hall, W232Shaping a New Era of Ingenuity: The Power of Inclusive Innovation, Wednesday, January 8, 3 PM, LVCC, West Hall, W232Revolutionizing Customer Engagement, Thursday, January 9, 10 AM, LVCC, West Hall, W232Don’t miss experts from NASA, Netflix, Mastercard, Coach, and more on the stage.

Innovation Policy Summit – CES gathers policymakers from across the world to discuss domestic and global tech policy issues including privacy, trade, competition, and more.

Is Big Always Bad: Big Tech and the Innovation Economy, Tuesday, January 7, 1 PM, LVCC, N258Tech Without Borders: The Benefits of Tech for All Communities, Wednesday, January 8, 9 AM, LVCC, N258Trade in 2025: Will the World Fracture or Reglobalize, Wednesday, January 8, 3:40, PM, LVCC, N258

Mobility Stage – New stage features the future of mobility, from electrification to connected vehicles, new battery technology, and advancements in AI.

How to Build Physical AI for Mobility, Tuesday, January 7, 10:30 AM, LVCC West Hall 1, Mobility StageBreakthroughs in Battery Tech Redefine EV Driving, Tuesday, January 7, 2:20 PM, LVCC West Hall 1, Mobility StageRevolutionizing the Future of Driving – Unleashing the Power of AI, Wednesday, January 8, 2:20 PM, LVCC, West Hall 1, Mobility Stage

Quantum Means Business – New partnership with Quantum World Congress to address how hardware, software, and AI are using quantum mechanics to improve technologies and create new applications.

Quantum is Here: Computing Advancements and Tangible Applications, Thursday, January 9, LVCC, 9 AM, West Hall, W218Global Industry Challenge: Celebrating International Year of Quantum, Thursday, January 9, 10 AM, LVCC, West Hall, W218Quantum is Now: Unprecedented Improvement in Precision and Sensitivity, Thursday, January 9, 11 AM, LVCC, West Hall, W218

Research Summit – Learn about consumer and enterprise trends across verticals.

Breaking Through the EV Demand Plateau with AI and Data Analytics, presented by EY, Monday, January 6, 1 PM, LVCC, West Hall, W232Declaration of Autonomy: Is Trust the Limit of AI’s Possibilities, presented by Accenture, Tuesday, January 7, 2 PM, LVCC West Hall, W232Navigating the Consumer Tech Landscape: Insights to Drive Growth, presented by Circana, Tuesday, January 7, 3 PM, LVCC, West Level 2, W232

Familiar faces – from musicians to sports legends and film and television stars – will be on the CES stage and throughout the show discussing and experiencing the latest innovations.

Experience the CES Show Floor

Explore innovation from global companies, including first-time exhibitors such as Foxconn (FIH Mobile), Komatsu, Oshkosh, Suzuki, and Scout Motors.

LVCC Central Hall

Showcasing the latest technology around the home and immersive entertainment – the central hub for customized, in-home entertainment, and family gaming.Exhibitor Examples: Bosch, Hisense, LG, Panasonic, Samsung, Sony, TCL

LVCC North Hall

Focused on smart communities, IoT, AI, sustainability, energy, and enterprise solutions. North Hall shows how these technologies work together to support our daily lives now and in the future.Exhibitor Examples: AIMA E-Bike, Hitachi, Indiegogo, Siemens, Xpeng AeroHT

LVCC South Hall

Back for 2025, the South Hall is where the accessories and memorable products come to life to improve how we live and work.Exhibitor Examples: EcoFlow, Green Merit Ltd, Maono, Pecron, Pkcell

LVCC West Hall

Experience the entire ecosystem of mobility at CES—from passenger and self-driving cars to construction, agriculture, boating, and advanced air travel.Exhibitor Examples: Amazon Automotive, Honda, Invo Station, MobileEye, Qualcomm, Waymo

C Space®/ARIA

Where the world’s leading brands, advertisers, media platforms, and content creators meet to forge deals, explore trends, and unveil the latest technologies reshaping the industry.Exhibitor Examples: Disney, Fox, iHeart, Kroger, Mars, Reddit, Roku, T-Mobile, Uber Ads, Walmart Ads

The Venetian

The home of smart living, including digital health, smart home, energy management, security, education, lifestyle, and food tech.Exhibitor Examples: AARP, Pawport, RenphoThe Venetian is also home to the CES Innovation Awards Showcase, with the next round of embargo award honorees scheduled to be announced on January 5.

Eureka Park at The Venetian

The startup hub of CES, home to nearly 1400 startups from around the globe.Exhibitor Examples: Global pavilions from Korea, Japan, Taiwan, Ukraine, the U.S., and others from around the world.

To search for CES exhibiting companies – by product category, keyword, or country – visit the Exhibitor Directory.

Media Days
Hear from dozens of the world’s biggest brands breaking news at two days of media-only events, January 5-6 at Mandalay Bay, including CES Unveiled and CES Tech Trends to Watch.

Press Conferences – Major brands will make announcements, including LG, Hisense, John Deere, Samsung, and Sony – January 5 and 6, Mandalay BayCES 2025 Tech Trends to Watch – Hear the top trends at CES 2025 and beyond –Sunday, January 5, 4 PM, Mandalay Bay, Oceanside CCES Unveiled Las Vegas – The Official Media Event of CES 2025 with innovative product previews – Sunday, January 5, 5-8:30 PM, Mandalay Bay, Shoreline Exhibit Hall

Media Resources
Visit the CES Media Resources for access to:

Media Room Hours and LocationsShuttle Bus InformationB-RollCES Photo Gallery

For the latest news and information, visit CES.tech. Register for CES 2025 here.

About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social.

About Consumer Technology Association (CTA)®:
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.

View original content to download multimedia:https://www.prnewswire.com/news-releases/what-not-to-miss-at-ces-2025-302342319.html

SOURCE Consumer Technology Association

Technology

SHOWCASING TOMORROW’S INNOVATORS: LG NOVA RETURNS TO CES 2025

Published

7 hours ago

January 4, 2025

LG NOVA Pushes Forward the Future of Collaboration and Innovation Across Healthtech, AI and Cleantech

LAS VEGAS, Jan. 4, 2025 /PRNewswire/ — LG NOVA, the North America Innovation Center for LG Electronics, returns to CES this year to showcase its commitment to a brighter future through building collaborations with entrepreneurs and startups working in healthtech, AI and cleantech. LG NOVA’s exhibit will feature startup companies building transformative solutions that address today’s real-world challenges impacting people and the planet.

At CES 2025, in LG NOVA’s Eureka Park exhibit, visiting attendees will have the opportunity to explore emerging technologies in healthtech, cleantech and AI; connect with LG executives and leading startups in their respective market areas, attend in-booth sessions and tech talks, learn about LG NOVA’s vision for the innovation ecosystem and discuss the latest trends and views on the markets with the team.

LG NOVA’s showcase will include Primefocus Health, the first new venture unveiled by LG Electronics, launched in collaboration with LG NOVA. At CES, Primefocus Health will demonstrate its new healthcare solution built for providers to support patients’ recovery at home with a remote-monitoring and healthcare delivery platform. The company is working on personalized, home-based healthcare solutions tackling rural access, obesity, healthy aging and substance abuse.

Additionally, with its continual efforts on creating innovative solutions for better health, LG NOVA is exhibiting a new mental health solution concept, Relief AI. This new concept is a platform for monitoring and tracking patients’ mental wellbeing through advanced AI assessment technologies, engaging with the patient directly.

The LG NOVA startup showcase is located at Eureka Park (Venetian Expo, Hall G. Booth #60511) Featured startups in the LG NOVA program include:

Healthtech:

Continuum: A patient-controlled hub for all home health data for streamlining personal health decisions. MetaOptima: A leader in dermatology AI and skin cancer diagnostics, driven by its innovative DermEngine platform.

Cleantech:

Climative: AI-assisted digital energy assessments for homes and neighborhoods to accelerate the decarbonization and optimizing energy efficiencies through home improvements.Baleena: Next-gen filtration technology to eliminate microplastics from textile wash—redefining laundering for a cleaner future.

Artificial Intelligence:

Roll AI: An AI-powered platform for marketing teams to create production-grade videos for testimonials, webinars, and events, featuring effects like multicam and AI-simulated camera moves – all with just an iPhone.VersaWare: Creates Versa, a hands-free multi-modal AI system for cooking and nutrition. Versa is available as white-labeled SDK for appliance manufacturers and through the VersaWare mobile app and VersaBoard.

Open Innovation:

CareCam: Helps providers track patients’ recovery from neurological injuries and screen for frailty in minutes using digital biomarkers powered by patented movement analysis technology.Canary Speech: An AI-powered voice biomarker health tech company that uses real-time patented vocal analysis to screen for mental health and neurological disorders.

These startups exemplify LG NOVA’s pursuit to collaborate with innovative companies, pushing the boundaries of technology to create transformative solutions and a positive impact on the future.

For more information on LG NOVA’s at CES visit www.lgnova.com/ces-2025.

About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by establishing a community to create, nurture and grow businesses. Learn more about LG NOVA at www.lgnova.com .

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.

Media Contact:

LG Electronics USA
Linda Quach
+1 408 903 3045
linda.quach@lge.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/showcasing-tomorrows-innovators-lg-nova-returns-to-ces-2025-302342237.html

SOURCE LG Electronics USA