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IAS Reports Fourth Quarter and Full Year 2023 Financial Results

Published

11 months ago

on

Fourth quarter revenue increased 14% to $134.3 million

Fourth quarter net income of $10.2 million at an 8% margin; fourth quarter adjusted EBITDA increased 19% to $47.5 million at a 35% margin

NEW YORK, Feb. 27, 2024 /PRNewswire/ — Integral Ad Science Holding Corp. (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced financial results for the fourth quarter and full year ended December 31, 2023.

“We ended 2023 with strong fourth quarter performance across optimization and measurement with revenue growth of 16% and 18%, respectively,” said Lisa Utzschneider, CEO of IAS. “Social media revenue increased 37% in the fourth quarter as marketers trusted IAS to maximize their advertising spend globally, particularly in short-form video. In 2024, we will continue to invest in data science and innovate with AI to empower marketers with actionable data to drive superior results. We expect to deliver double-digit revenue growth for the full year.”  

Fourth Quarter 2023 Financial Highlights

Total revenue was $134.3 million, a 14% increase compared to $117.4 million in the prior-year period.Optimization revenue was $63.6 million, a 16% increase compared to $55.1 million in the prior-year period.Measurement revenue was $52.6 million, an 18% increase compared to $44.7 million in the prior-year period.Publisher revenue was $18.1 million, a 2% increase compared to $17.6 million in the prior-year period.International revenue, excluding the Americas, was $43.3 million, a 16% increase compared to $37.3 million in the prior-year period, or 32% of total revenue for the fourth quarter of 2023.Gross profit was $106.0 million, an 11% increase compared to $95.5 million in the prior-year period. Gross profit margin was 79% for the fourth quarter of 2023.Net income was $10.2 million, or $0.06 per basic and diluted share, compared to $11.5 million, or $0.07 per basic and diluted share, in the prior-year-period. Net income margin was 8% for the fourth quarter of 2023.Adjusted EBITDA* was $47.5 million, a 19% increase compared to $40.0 million in the prior-year period. Adjusted EBITDA* margin was 35% for the fourth quarter of 2023.

Full Year 2023 Financial Highlights

Total revenue was $474.4 million, a 16% increase compared to $408.3 million in the prior year.Optimization revenue was $224.5 million, an 18% increase compared to $190.6 million in the prior year.Measurement revenue was $186.0 million, a 20% increase compared to $154.9 million in the prior year.Publisher revenue was $63.8 million, a 2% increase compared to $62.8 million in the prior year.International revenue, excluding the Americas, was $146.8 million, a 14% increase compared to $129.1 million in the prior year, or 31% of total revenue for the full year 2023.Gross profit was $375.0 million, a 13% increase compared to $332.6 million in the prior year. Gross profit margin was 79% for the full year 2023.Net income was $7.2 million, or $0.04 per diluted share, compared to $15.4 million, or $0.10 per basic and diluted share, in the prior year. Net income margin was 2% for the full year 2023.Adjusted EBITDA* was $159.5 million, a 26% increase compared to $126.6 million in the prior year. Adjusted EBITDA* margin was 34% for the full year 2023.Cash and cash equivalents were $124.8 million at December 31, 2023.

Recent Business Highlights

Meta Expansion – In February, IAS announced the availability of its AI-driven Total Media Quality (TMQ) brand safety and suitability measurement product across Facebook and Instagram Feed and Reels. IAS’s new post-bid brand safety and suitability expansion with Meta gives advertisers increased transparency into whether their campaigns are appearing next to safe and suitable content.IAS MRC Continuing Accreditation for Measurement of Meta Platforms – In January, IAS received continuing accreditation from the MRC for viewability measurement of Meta, including impressions and two-second video viewability, on Facebook Feed and Instagram Feed and Stories.YouTube TMQ Expansion – During the fourth quarter, IAS expanded its partnership to YouTube Shorts to offer its brand safety and suitability measurement product to advertisers for YouTube Shorts inventory, as part of its existing Total Media Quality for YouTube product suite.X Expansion – In February, IAS expanded its partnership with X to all U.S. advertisers. IAS classifies all vertical video ad adjacencies for brand safety and suitability aligned to the GARM framework, giving advertisers maximum control over where their ads appear on the X vertical video feed.Quality Attention Expansion – In January, IAS announced the general availability of its Quality Attention measurement product. Quality Attention uses advanced machine learning technology, actionable data from Lumen Research’s eye-tracking technology, and a variety of signals obtained as part of IAS’s core technology.

Financial Outlook

“We reported profitable growth in the fourth quarter with a 14% revenue increase at a 35% adjusted EBITDA* margin,” said Tania Secor, CFO of IAS. “As we move through 2024, we expect to ramp both revenue growth and profitability from forecasted first quarter levels as we expand availability and customer adoption of new products. We also plan to maintain our strong financial profile and healthy balance sheet.”

IAS is introducing the following financial outlook for the first quarter and full year 2024:

First Quarter Ending March 31, 2024:

Total revenue of $111 million to $113 millionAdjusted EBITDA* of $28 million to $30 million

Year Ending December 31, 2024:

Total revenue of $530 million to $540 millionAdjusted EBITDA* of $171 million to $179 million

* See “Supplemental Disclosure Regarding Non-GAAP Financial Information” section herein for an explanation of Non-GAAP measures. IAS is unable to provide a reconciliation for forward-looking guidance of Adjusted EBITDA to net income (loss), the most closely comparable GAAP measure, because certain material reconciling items, such as depreciation and amortization, interest expense, income tax expense (benefit), restructuring and severance costs, and acquisition and integration costs, cannot be estimated due to factors outside of IAS’s control and could have a material impact on the reported results. However, IAS estimates stock-based compensation expense for the first quarter of 2024 in the range of $14 million to $16 million and for the full year 2024 in the range of $72 million to $76 million. A reconciliation is not available without unreasonable effort.

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED BALANCE SHEETS

 

(IN THOUSANDS, EXCEPT SHARE DATA)

December 31, 2023

December 31, 2022

ASSETS

Current assets:

Cash and cash equivalents

$      124,759

$        86,877

Restricted cash

54

45

Accounts receivable, net

74,609

67,884

Unbilled receivables

46,548

41,550

Prepaid expenses and other current assets

18,959

24,761

Due from related party

—

29

Total current assets

264,929

221,146

Property and equipment, net

3,769

2,412

Internal use software, net

40,301

23,642

Intangible assets, net

178,908

217,558

Goodwill

675,282

674,094

Operating lease right-of-use assets, net

21,668

22,787

Deferred tax asset, net

2,465

2,020

Other long-term assets

4,402

5,024

Total assets

$   1,191,724

$   1,168,683

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable and accrued expenses

$        72,232

$        60,799

Operating lease liabilities, current

9,435

6,749

Due to related party

121

122

Deferred revenue

682

99

Total current liabilities

82,470

67,769

Deferred tax liability, net

20,367

45,495

Long-term debt

153,725

223,262

Operating lease liabilities, non-current

19,523

22,875

Other long-term liabilities

6,183

1,066

Total liabilities

282,268

360,467

Commitments and Contingencies

Stockholders’ Equity

Preferred Stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2023; 0
     shares issued and outstanding at December 31, 2023 and 2022

—

—

Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2023,
     158,757,620 and 153,990,128 shares issued and outstanding at December 31, 2023 and
     2022, respectively

159

154

Additional paid-in-capital

901,259

810,186

Accumulated other comprehensive loss

(916)

(2,899)

Accumulated earnings

8,954

775

Total stockholders’ equity

909,456

808,216

Total liabilities and stockholders’ equity

$   1,191,724

$   1,168,683

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)

Three months ended December 31,

Year ended December 31,

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

2023

2022

2023

2022

Revenue

$       134,295

$       117,435

$      474,369

$      408,348

Operating expenses:

Cost of revenue (excluding depreciation and amortization shown below)

28,252

21,891

99,352

75,755

Sales and marketing

30,423

28,325

117,989

106,286

Technology and development

19,056

22,280

72,906

76,351

General and administrative

25,961

23,572

111,634

79,654

Depreciation and amortization

14,593

12,811

54,966

50,396

Foreign exchange (gain) loss, net

(501)

1,246

430

4,749

Total operating expenses

117,784

110,125

457,277

393,191

Operating income

16,511

7,310

17,092

15,157

Interest expense, net

(2,489)

(3,194)

(12,236)

(9,053)

Employee retention tax credit

—

—

—

6,981

Net income before income taxes

14,022

4,116

4,856

13,085

(Provision) benefit from income taxes

(3,858)

7,371

2,382

2,288

Net income

$         10,164

$         11,487

$          7,238

$        15,373

Net income per share:

Basic

$             0.06

$             0.07

$           0.05

$           0.10

Diluted

$             0.06

$             0.07

$           0.04

$           0.10

Weighted average shares outstanding:

Basic

158,243,619

153,792,438

156,272,335

154,699,694

Diluted

163,060,805

155,288,725

161,723,131

157,258,083

Other comprehensive income:

Foreign currency translation adjustments

2,772

8,634

1,983

(2,584)

Total comprehensive income

$         12,936

$         20,121

$          9,221

$        12,789

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’/MEMBERS’ EQUITY

Members’ Interest

Common Stock

(IN THOUSANDS, EXCEPT UNITS
AND SHARES DATA)

Units

Amount

Shares

Amount

Additional

paid-in

capital

Accumulated

other

comprehensive

income (loss)

Accumulated
earnings

(deficit)

Total members’/
stockholders’ 
equity

Balances at January 1, 2021

134,039,494

$            553,717

—

$                     —

$                     —

$               4,523

$          (126,761)

$            431,479

Repurchase of units

(99,946)

(413)

—

—

—

—

(791)

(1,204)

Units vested

17,486

—

—

—

—

—

—

—

Option exercises

246,369

1,075

—

—

3,360

—

—

4,435

Foreign currency translation
adjustment

—

—

—

—

—

(4,838)

—

(4,838)

Net loss prior to corporate conversion

—

—

—

—

—

—

(37,832)

(37,832)

Conversion to Delaware corporation

(134,203,403)

(554,379)

134,203,403

134

388,860

—

165,385

—

Rounding units/shares as a result of
corporate conversion

—

—

(17)

—

—

—

—

—

Stock-based compensation

—

—

—

—

55,222

—

—

55,222

RSUs vested

—

—

26,931

—

150

—

—

150

Issuance of common stock in
connection with initial public offering

—

—

16,821,330

17

274,340

—

—

274,357

Issuance of common stock for Publica
acquisition

—

—

2,888,889

3

49,628

—

—

49,631

Issuance of common stock for Context
acquisition

—

—

457,959

—

10,391

—

—

10,391

Net loss

—

—

—

—

—

—

(14,600)

(14,600)

Balances at December 31, 2021

—

$                     —

154,398,495

$                  154

$            781,951

$                 (315)

$            (14,600)

$            767,190

RSUs vested

—

—

1,084,966

1

—

—

—

1

Option exercises

—

—

1,586,728

2

7,153

—

—

7,155

Stock-based compensation

—

—

—

—

44,733

—

—

44,733

Foreign currency translation
adjustment

—

—

—

—

—

(2,584)

—

(2,584)

Repurchase of common stock

—

—

(3,080,061)

(3)

(23,652)

—

—

(23,655)

Net income

—

—

—

—

—

—

15,373

15,373

Balances at December 31, 2022

—

$                     —

153,990,128

$                  154

$            810,186

$              (2,899)

$                  775

$            808,216

RSUs and MSUs vested

—

—

3,492,130

4

—

—

—

4

Option exercises

—

—

1,001,793

1

7,988

—

—

7,989

ESPP purchase

—

—

273,569

—

2,306

—

—

2,306

Stock-based compensation

—

—

—

—

80,779

—

—

80,779

Foreign currency translation adjustment

—

—

—

—

—

1,983

—

1,983

Adoption of ASC 326, net of tax

—

—

—

—

—

—

941

941

Net income

—

—

—

—

—

—

7,238

7,238

Balances at December 31, 2023

—

$                     —

158,757,620

$                  159

$            901,259

$                 (916)

$               8,954

$            909,456

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended December 31,

(IN THOUSANDS)

2023

2022

Cash flows from operating activities:

Net income

$          7,238

$        15,373

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

54,966

50,396

Stock-based compensation

81,103

44,752

Foreign exchange (gain) loss, net

(484)

5,233

Deferred tax benefit

(21,531)

(8,880)

Amortization of debt issuance costs

463

464

Allowance for credit losses

3,816

1,837

Employee retention tax credit

—

(6,981)

Impairment of assets

33

974

Changes in operating assets and liabilities:

Increase in accounts receivable

(8,148)

(18,581)

Increase in unbilled receivables

(4,685)

(5,830)

Decrease (increase) in prepaid expenses and other current assets

6,418

(10,641)

Increase in operating leases, net

(29)

(852)

Decrease (increase) in other long-term assets

375

(1,057)

Increase in accounts payable and accrued expenses and other long-term liabilities

11,478

6,286

Increase (decrease) in deferred revenue

582

(88)

Increase in due to/from related party

28

62

Net cash provided by operating activities

131,623

72,467

Cash flows from investing activities:

Payment for acquisitions, net of acquired cash

(966)

(1,603)

Purchase of property and equipment

(1,975)

(2,016)

Acquisition and development of internal use software and other

(31,777)

(14,673)

Net cash used in investing activities

(34,718)

(18,292)

Cash flows from financing activities:

Repayment of long-term debt

(145,000)

(35,000)

Repayment of short-term debt

—

(1,816)

Proceeds from the Revolver

75,000

15,000

Proceeds from exercise of stock options

7,989

7,155

Payments for repurchase of common stock

—

(23,655)

Cash received from Employee Stock Purchase Program (ESPP)

3,160

845

Net cash used in financing activities

(58,851)

(37,471)

Net increase in cash, cash equivalents, and restricted cash

38,054

16,704

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

(435)

(3,111)

Cash, cash equivalents, and restricted cash, at beginning of year

89,671

76,078

Cash, cash equivalents, and restricted cash, at end of year

$      127,290

$        89,671

Supplemental Disclosures:

Cash paid during the year for:

Interest

$        11,229

$          8,511

Taxes

$        10,985

$        16,396

Non-cash investing and financing activities:

Property and equipment acquired included in accounts payable

$             431

$               97

Internal use software acquired included in accounts payable

$          1,444

$          1,517

Lease liabilities arising from right of use assets

$          6,282

$        29,624

Supplemental Disclosure Regarding Non-GAAP Financial Information

We use supplemental measures of our performance, which are derived from our consolidated financial information, but which are not presented in our consolidated financial statements prepared in accordance with GAAP. Adjusted EBITDA is the primary financial performance measure used by management to evaluate our business and monitor ongoing results of operations. Adjusted EBITDA is defined as income/loss before depreciation and amortization, stock-based compensation, interest expense, income taxes, restructuring and severance costs, acquisition and integration costs, foreign exchange gains and losses, and other one-time, non-recurring costs. Adjusted EBITDA margin represents the adjusted EBITDA for the applicable period divided by the revenue for that period presented in accordance with GAAP.

We use non-GAAP financial measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management to better understand our consolidated financial performance from period to period and better project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures. Moreover, we believe these non-GAAP financial measures provide our shareholders with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. Although we believe these measures are useful to investors and analysts for the same reasons they are useful to management, these measures are not a substitute for, or superior to, U.S. GAAP financial measures or disclosures. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.

Reconciliation of historical Adjusted EBITDA and corresponding margin to their most directly comparable GAAP financial measures, net income/loss and corresponding margin are presented below. We encourage you to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future fiscal periods, we may exclude such items and may incur income and expenses similar to these excluded items.

Reconciliation of Adjusted EBITDA

Three months ended December 31,

Year ended December 31,

(in thousands, except percentages)

2023

2022

2023

2022

Net income

$       10,164

$       11,487

$         7,238

$      15,373

Depreciation and amortization

14,593

12,811

54,966

50,396

Stock-based compensation

15,462

11,645

81,103

44,752

Interest expense, net

2,489

3,194

12,236

9,053

Provision (benefit) from income taxes

3,858

(7,371)

(2,382)

(2,288)

Restructuring and severance costs

1,054

5,904

4,028

10,321

Acquisition and integration costs

—

118

—

97

Foreign exchange (gain) loss, net

(501)

1,246

430

4,798

Employee retention tax credit

—

—

—

(6,981)

Offering costs, impairments and other costs

396

1,003

1,913

1,058

Adjusted EBITDA

$       47,515

$       40,037

$     159,532

$    126,579

Revenue

$     134,295

$     117,435

$     474,369

$    408,348

Net income margin

8 %

10 %

2 %

4 %

Adjusted EBITDA margin

35 %

34 %

34 %

31 %

 

Stock-Based Compensation 

Three months ended December 31,

Year ended December 31,

(in thousands)

2023

2022

2023

2022

Cost of revenue

$             124

$             249

$             452

$             507

Sales and marketing

5,512

2,871

23,371

13,520

Technology and development

4,104

2,958

17,538

9,937

General and administrative

5,722

5,567

39,742

20,788

Total stock-based compensation

$         15,462

$         11,645

$         81,103

$         44,752

Conference Call and Webcast Information
IAS will host a conference call and live webcast to discuss its fourth quarter and full year 2023 financial results today at 5:00 p.m. ET. To access the live webcast and conference call dial-in, please register under the “News & Events” section of IAS’s investor relations website. A replay will be available on IAS’s investor relations website following the live call: https://investors.integralads.com.

About Integral Ad Science
Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry’s most actionable data to drive superior results for the world’s largest advertisers, publishers, and media platforms. IAS’s software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust, safety, and transparency in digital media quality. For more information, visit integralads.com.

Forward-Looking Statements
This earnings press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements we make relating to our estimated and projected costs, expenditures, cash flows, growth rates and financial results or our plans and objectives for future operations, growth initiatives or strategies are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: (i) the adverse effect on our business, operating results, financial condition, and prospects from various macroeconomic factors, including instability in geopolitical or market conditions; (ii) our failure to innovate or make the right investment decisions; (iii) our ability to provide digital or cross-platform analytics; (iv) our failure to maintain or achieve industry accreditation standards; (v) our dependence on integrations with advertising platforms, demand side providers (“DSPs”) and proprietary platforms that we do not control; (vi) our ability to compete successfully with our current or future competitors in an intensely competitive market; (vii) our inability to use software licensed from third parties; (viii) our international expansion; (ix) our ability to expand into new channels; (x) our ability to sustain our profitability and revenue growth rate; (xi) risks that our customers do not pay or choose to dispute their invoices; (xii) risks of material changes to revenue share agreements with certain DSPs; (xiii) our dependence on the overall demand for advertising; (xiv) our ability to effectively manage our growth; (xv) the impact that any acquisitions we have completed in the past and may consummate in the future, strategic investments, or alliances may have on our business, financial condition, and results of operations; (xvi) our ability to successfully execute our international plans; (xvii) the risks associated with the seasonality of our market; (xviii) our ability to maintain high impression volumes; (xix) the difficulty in evaluating our future prospects given our short operating history; (xx) uncertainty in how the market for buying digital advertising verification solutions will evolve; (xxi) interruption by man-made problems such as terrorism, computer viruses, or social disruptions; (xxii) the risk of failures in the systems and infrastructure supporting our solutions and operations; (xxiii) our ability to avoid operational, technical, and performance issues with our platform; (xxiv) risks associated with any unauthorized access to user, customer, or inventory and third-party provider data; (xxv) our ability to provide the non-proprietary technology, software, products, and services that we use; (xxvi) the risk that we are sued by third parties for alleged infringement, misappropriation, or other violation of their proprietary rights; (xxvii) our ability to obtain, maintain, protect, or enforce intellectual property and proprietary rights that are important to our business; (xxviii) our involvement in lawsuits to protect or enforce our intellectual property; (xxix) risks that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers; (xxx) risks that our trademarks and trade names are not adequately protected; (xxxi) the impact of unforeseen changes to privacy and data protection laws and regulation on digital advertising; (xxxii) our ability to maintain our corporate culture; (xxxiii) public health outbreaks, epidemics, pandemics, or other public health crises; (xxxiv) risks posed by earthquakes, fires, floods, and other natural catastrophic events; (xxxv) the risk that a perceived failure to comply with laws and industry self-regulation may damage our reputation; and (xxxvi) other factors disclosed in our filings with the SEC. Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods.

We derive many of our forward-looking statements from our operating budgets and forecasts, which are based on many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to update or revise any forward- looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Investor Contact:
Jonathan Schaffer / Lauren Hartman
ir@integralads.com

Media Contact:
press@integralads.com

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SOURCE Integral Ad Science, Inc.

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Tech employment ends year with uptick in hiring, CompTIA analysis finds

Published

21 minutes ago

on

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By

Tech unemployment rate falls to 2%

DOWNERS GROVE, Ill., Jan. 10, 2025 /PRNewswire/ — Tech hiring increased during the latest jobs data release, resulting in a corresponding decrease in the tech unemployment rate, CompTIA, the world’s leading provider of vendor-neutral information technology (IT) training and certification products, reported today.

Analysis of U.S. Bureau of Labor Statistics (BLS) #JobsReport data reveals the tech unemployment rate dropped to 2% in December, the lowest level since November 2023. The national unemployment rate was essentially unchanged at 4.1% for the month.

The base of tech employment throughout the economy increased by a net new 7,000 positions. In the aggregate the core tech workforce totals nearly 6.5 million workers.¹

Employment within the technology industry sector, encompassing all types of workers, declined by 6,117 jobs.² Positions in PC, semiconductor and components manufacturing accounted for the bulk of the cuts. The tech sector employs nearly 5.6 million people, which translates to a percentage decline of 1%.

“This marks the 100th release of the CompTIA Tech Jobs report,” noted Tim Herbert, chief research officer, CompTIA. “What an incredible journey in tracking tech workforce trends over the past decade. A true honor to be at the center of such an innovative and dynamic space.”

There were 434,415 active employer job postings for tech positions in December, including 165,189 newly added during the month.³ Both totals were down from November. Positions in software development and engineering, IT project management, cybersecurity, data science and analysis and tech support had the most activity.

Companies with the largest numbers of December job postings included Amazon, Accenture, Deloitte, PricewaterhouseCoopers, GovCIO, Robert Half, Lumen Technologies and Insight Global.

Employers listed open positions at all career levels. Among postings that specified a work experience requirement, 22% sought candidates with 0-3 years of experience; 28% of openings sought workers with 4-7 years of experience; and 16%, 8 years or more.

Across all tech occupations 45% of December job postings did not specify a four-year degree requirement for applicants. Openings for network support specialists (85%), tech support specialists (72%) and computer programmers (54%) had notably higher percentages.

The “CompTIA Tech Jobs Report” is available at https://www.comptia.org/content/tech-jobs-report.

About CompTIA
CompTIA Inc. is the world’s leading provider of vendor-neutral information technology (IT) training and certification products. CompTIA unlocks potential in millions of aspiring technology professionals and careers changers. Working in partnership with thousands of academic institutions and training providers, CompTIA helps students build career-ready skills through best-in-class learning solutions, industry-recognized certifications and career resources.
Learn more at https://www.comptia.org/.

Media Contact
Steven Ostrowski
CompTIA
sostrowski@comptia.org
+1.630.678.8468

¹ Monthly occupation level data from the U.S. Bureau of Labor Statistics tends to experience higher levels of variance and volatility.
² Labor market data from the U.S. Bureau of Labor Statistics and employer job postings from Lightcast may be subject to backward revisions.
³ Active job postings include open postings carried over from previous months and new postings added by employers.

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SOURCE CompTIA

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Iktos and Cube Biotech Announce Launch of Small Molecule AI Drug Discovery Collaboration

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January 10, 2025

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Partnership will leverage Iktos’s AI-enabled drug discovery platform and Cube Biotech’s advanced protein technologies to develop novel agonists of the Amylin Receptor

PARIS and MONHEIM, Germany, Jan. 10, 2025 /PRNewswire/ — Iktos, a leader in Artificial Intelligence (AI) and Robotics for drug design, and Cube Biotech, a pioneer in membrane protein production and purification technologies, today announced a strategic collaboration to discover novel small molecule agonists of the Amylin Receptor.

The partnership combines Iktos’ generative AI-driven drug discovery and robotic synthesis platform with Cube Biotech’s advanced native membrane protein technology NativeMPTM, as well as their purification and biophysical assay expertise, to accelerate the development of breakthrough therapies. This paves the way for a joint collaborative offering directed towards pharmaceutical companies, combining the strengths of both platforms to undertake their most challenging drug discovery programs.

Amylin receptor agonists hold significant promise for addressing unmet medical needs in cardiometabolic disorders, including obesity, diabetes, and metabolic dysfunction-associated steatotic hepatitis (MASH). The Amylin Receptor regulates appetite and satiety, making it a compelling target for obesity, which affects over one-third of the global population. Existing GLP-1 receptor agonist therapies like semaglutide or the peptide Amylin analogue Pramlintide have limited impact due to high costs, accessibility, and undesirable side effects.

Orally administered novel small molecule agonists of the Amylin receptor could overcome these barriers, offering scalable and effective treatments and providing better management for the growing obesity epidemic and its comorbidities. However, the receptor’s structural and biological complexity has long posed challenges for discovering viable low-molecular-weight modulators.

“By tackling one of the most pressing unmet needs in cardiometabolic disorders, our partnership with Cube Biotech aims to discover improved treatments for patients affected by obesity, diabetes, and related conditions,” said Yann Gaston-Mathé, Co-founder and CEO of Iktos. “We are excited to add the Amylin Receptor to our pipeline as this complex, yet promising target demands innovation at every stage. We see this collaboration as a foundation for future initiatives, extending the reach of our combined platform to address the most challenging membrane targets for the benefit of our pharma partners.”

Iktos has developed a cutting-edge 3D generative chemistry technology for structure-guided de novo design that natively accounts for protein flexibility during molecule optimization—a key advantage over models like AlphaFold, which can only be applied post-molecule generation. Cube Biotech has developed a world-leading protein production platform, based on NativeMP™ technology, which preserves the natural configuration of membrane proteins – a key advantage in accessing biologically active drug targets for testing. The company’s native protein stabilization technology enhances the reliability and precision of functional assays, structural insights, and downstream applications.

“Amylin Receptor is a challenging but highly promising target for metabolic disorders”, said Dr. Barbara Maertens, Co-founder and COO of Cube Biotech. “Through our collaboration with Iktos, we aim to leverage our advanced protein stabilization and structural analysis technologies to validate and accelerate the discovery of novel small molecule agonists. Together, we are setting a new standard for efficiency and innovation in drug discovery.”

These integrated technologies endeavor to overcome longstanding inefficiencies in drug discovery, shortening timelines, improving success rates, and unlocking new possibilities for targeting complex and historically elusive membrane proteins, such as G-protein coupled receptors (GPCRs), membrane transporters, ion channels, and others.

About Iktos

Iktos is a leader in artificial intelligence and robotic solutions applied to research in medicinal chemistry and new drug design. Iktos’ proprietary and innovative generative AI solution enables the design of molecules that are optimized in silico to meet all the success criteria of a small molecule discovery project. The use of Iktos technology enables major productivity gains in upstream pharmaceutical R&D. Iktos offers its technology through the SaaS software platforms Makya™ for generative drug design and Spaya™ for retrosynthesis, and through strategic collaborations with pharma companies where Iktos mobilizes its unique platform and leading-edge capabilities to expedite small molecule drug discovery for the benefit of its partners. Iktos has also developed Iktos Robotics, a unique AI-driven synthesis automation platform that dramatically accelerates the Design-Make-Test-Analyze cycle in drug discovery and is developing its own pipeline of drug candidates targeting oncology and auto-immune and inflammatory diseases. In March 2023, Iktos completed a 15.5M€ Series A financing round co-led by M Ventures and Debiopharm Innovation with contribution by Omnes Capital. In July 2024, Iktos announced the acquisition of Synsight, thereby complementing its Chemistry AI platform with a groundbreaking biology platform for the discovery of new drugs targeting Protein-Protein Interactions (PPI) and RNA-Protein Interactions (RPI).

About Cube Biotech Cube Biotech is a leader in membrane protein production, purification, and characterization technologies. With proprietary copolymer-based solutions that maintain biological integrity in native-like protein states, Cube Biotech enables groundbreaking research in challenging drug targets, including membrane receptors, protein co-expressions, and even larger complexes.

The company’s expertise in assay development, biophysical characterization, and structural resolution supports efficient drug discovery workflows across the pharmaceutical and biotechnical industries. Additionally, an extensive purification resin and magnetic bead portfolio for affinity chromatography and efficient protein purification is manufactured in-house at high quality. For more information, visit www.cube-biotech.com.

Media Contact:
Eleonora Echegaray
P: 35 823189279
E: 388591@email4pr.com

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SOURCE Iktos

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

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January 10, 2025

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

Rule 10b-5 settlements increased over 20% in 2024 relative to the last 6 years.

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

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

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

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

Key takeaways:

86 U.S. issuers were sued for alleged violations of Rule 10b-5 during 2H 2024. Based on allegations presented in the first-filed class action complaint against each defendant issuer, U.S. SCA Rule 10b-5 Exposure amounts to $259.4 billion. U.S. SCA Rule 10b-5 Exposure decreased -5.4% relative to 1H 2024.

U.S. SCA Rule 10b-5 Exposure peaked in the 2nd and 3rd quarters, followed by a decline to trend in the 4th quarter of 2024.

9 Non-U.S. issuers were sued for alleged violations of Rule 10b-5 during 2H 2024. Based on allegations presented in the first-filed class action complaint against each defendant issuer, ADR SCA Rule 10b-5 Exposure amounts to $120.9 billion. ADR SCA Rule 10b-5 Exposure increased by 11.3x relative to 1H 2024.

An anomalously high 4th quarter exposure among Non-U.S. issuers contributed to a remarkably volatile year for ADR SCA Rule 10b-5 Exposure.

Rule 10b-5 private securities-fraud filing frequency and potential loss severity need not move in tandem. Global exposure increased by approximately 34% in the 2H 2024 relative to 1H 2024, while filing frequency remained relatively stable.

38 U.S. Large Caps were sued for alleged violations of Rule 10b-5 in 2H 2024, the same observed frequency as 1H 2024. The U.S. Large Cap SCA Rule 10b-5 Exposure amounts to $233.7 billion, a decrease of 10.1% relative to 1H 2024.

22 U.S. Mid Caps were sued for alleged violations of Rule 10b-5 In 2H 2024. The U.S. Mid Cap SCA Rule 10b-5 Exposure amounts to $19.8 billion, more than 3 times the amount in 1H 2024.

26 U.S. Small Caps were sued for alleged violations of Rule 10b-5. The U.S. Small Cap SCA Rule 10b-5 Exposure amounts to $5.9 billion, a decrease of 33% relative to 1H 2024.

9 Non-U.S. issuers that trade via ADRs in the U.S. public markets were sued for alleged violations of Rule 10b-5. The ADR SCA Rule 10b-5 Exposure increased by over 11.3x to ~$121 billion, relative to 1H 2024.

Media contact: info@sarlit.com

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SOURCE SAR

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