Technology
Dell Technologies Delivers Fourth Quarter and Full Year Fiscal 2024 Financial Results
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7 months agoon
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News summary
Fourth quarter revenue of $22.3 billion and full-year revenue of $88.4 billionFull-year operating income of $5.2 billion and non-GAAP operating income of $7.7 billionFull-year cash flow from operations of $8.7 billionFull-year diluted earnings per share of $4.36 and non-GAAP diluted earnings per share of $7.13Announcing a 20% increase in annual cash dividend to $1.78 per common share
ROUND ROCK, Texas, Feb. 29, 2024 /PRNewswire/ —
Full story
Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2024 fourth quarter and full year. Fourth quarter revenue was $22.3 billion, down 11% year over year. Operating income was $1.5 billion and non-GAAP operating income was $2.1 billion, up 25% and down 1% year over year, respectively. Cash flow from operations was $1.5 billion. Diluted earnings per share was $1.59, and non-GAAP diluted earnings per share was $2.20, up 89% and 22% year over year, respectively.
Revenue for the year was $88.4 billion, down 14% from fiscal year 2023. Operating income was $5.2 billion and non-GAAP operating income was $7.7 billion, down 10% and 11% year over year, respectively. Cash flow from operations for the full year was $8.7 billion. Full-year diluted earnings per share was $4.36, and non-GAAP diluted earnings per share was $7.13, up 35% and down 6% year over year, respectively.
Cash and investments were $9.0 billion, and Dell reached its core leverage target of 1.5x exiting the fiscal year. Dell is increasing its annual cash dividend by 20% to $1.78 per common share, with $0.445 per common share for the first quarterly distribution payable on May 3 to shareholders of record as of April 23.
“We generated $8.7 billion in cash flow from operations this fiscal year, returning $7 billion to shareholders since Q1 FY23,” said Yvonne McGill, chief financial officer, Dell Technologies. “We’re optimistic about FY25 and are increasing our annual dividend by 20% – a testament to our confidence in the business and ability to generate strong cash flow.”
Fourth Quarter Fiscal 2024 Financial Results
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
Change
February 2,
2024
February 3,
2023
Change
(in millions, except per share amounts and percentages; unaudited)
Net revenue
$ 22,318
$ 25,039
(11) %
$ 88,425
$ 102,301
(14) %
Operating income
$ 1,491
$ 1,189
25 %
$ 5,211
$ 5,771
(10) %
Net income
$ 1,158
$ 606
91 %
$ 3,195
$ 2,422
32 %
Earnings per share – diluted
$ 1.59
$ 0.84
89 %
$ 4.36
$ 3.24
35 %
Non-GAAP operating income
$ 2,139
$ 2,170
(1) %
$ 7,678
$ 8,637
(11) %
Non-GAAP net income
$ 1,610
$ 1,322
22 %
$ 5,245
$ 5,727
(8) %
Adjusted free cash flow
$ 1,010
$ 2,267
(55) %
$ 5,607
$ 1,533
266 %
Non-GAAP earnings per share – diluted
$ 2.20
$ 1.80
22 %
$ 7.13
$ 7.61
(6) %
Information about Dell Technologies’ use of non-GAAP financial information is provided under “Non-GAAP Financial Measures” below. All comparisons in this press release are year-over-year unless otherwise noted.
Infrastructure Solutions Group (ISG) delivered fourth quarter revenue of $9.3 billion, up 10% sequentially and down 6% year over year. Servers and networking revenue was $4.9 billion, with sequential growth driven primarily by AI-optimized servers. Storage revenue was $4.5 billion, up 16% sequentially with demand strength across the portfolio. Operating income was $1.4 billion. Full-year ISG revenue was $33.9 billion, down 12% year over year, and full-year operating income was $4.3 billion, down 15% year over year.
Client Solutions Group (CSG) delivered fourth quarter revenue of $11.7 billion, down 5% sequentially and 12% year over year. Commercial client revenue was $9.6 billion, and Consumer revenue was $2.2 billion. Operating income was $726 million. Full-year CSG revenue was $48.9 billion, down 16% year over year, and full-year operating income was $3.5 billion, down 8% year over year.
“Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, exiting our fiscal year at $2.9 billion,” said Jeff Clarke, vice chairman and chief operating officer, Dell Technologies. “We’ve just started to touch the AI opportunities ahead of us, and we believe Dell is uniquely positioned with our broad portfolio to help customers build GenAI solutions that meet performance, cost and security requirements.”
Dell continues to expand its portfolio to help customers meet their performance, cost and security requirements across clouds, on premises and at the edge:
Expanded the Dell Generative AI Solutions portfolio with support for the AMD Instinct™ MI300X accelerator in Dell PowerEdge XE9680 servers and the new Dell Validated Design for Generative AI with AMD ROCm™ powered AI frameworks.Introduced new enterprise data storage advancements and planned validation with the NVIDIA DGX SuperPOD AI infrastructure, helping customers quickly access data for AI workloads with Dell PowerScale systems.Announced Dell will have the broadest portfolio of commercial AI laptops and mobile workstations, which feature built-in AI acceleration with the addition of the neural processing unit (NPU). New XPS systems also feature the NPU, helping to improve performance, productivity and collaboration.Forged partnership with Nokia to serve as its preferred infrastructure partner for Nokia AirFrame customers, transitioning them to Dell PowerEdge servers with Dell global services and support. Dell will also offer Nokia’s Digital Automation Cloud solution with Dell NativeEdge to provide a comprehensive, scalable solution for enterprises.
Operating Segments Results
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
Change
February 2,
2024
February 3,
2023
Change
(in millions, except percentages; unaudited)
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking
$ 4,857
$ 4,940
(2) %
$ 17,624
$ 20,398
(14) %
Storage
4,475
4,965
(10) %
16,261
17,958
(9) %
Total ISG net revenue
$ 9,332
$ 9,905
(6) %
$ 33,885
$ 38,356
(12) %
Operating Income:
ISG operating income
$ 1,428
$ 1,543
(7) %
$ 4,286
$ 5,045
(15) %
% of ISG net revenue
15.3 %
15.6 %
12.6 %
13.2 %
% of total reportable segment operating income
66 %
70 %
55 %
57 %
Client Solutions Group (CSG):
Net revenue:
Commercial
$ 9,563
$ 10,697
(11) %
$ 39,814
$ 45,556
(13) %
Consumer
2,152
2,664
(19) %
9,102
12,657
(28) %
Total CSG net revenue
$ 11,715
$ 13,361
(12) %
$ 48,916
$ 58,213
(16) %
Operating Income:
CSG operating income
$ 726
$ 671
8 %
$ 3,512
$ 3,824
(8) %
% of CSG net revenue
6.2 %
5.0 %
7.2 %
6.6 %
% of total reportable segment operating income
34 %
30 %
45 %
43 %
Conference call information
As previously announced, the company will hold a conference call to discuss its performance and financial guidance on Feb. 29 at 3:30 p.m. CST. Prior to the start of the conference call, prepared remarks and a presentation containing additional financial and operating information prior to financial guidance may be downloaded from investors.delltechnologies.com. The conference call will be broadcast live over the internet and can be accessed at https://investors.delltechnologies.com/news-events/upcoming-events
For those unable to listen to the live broadcast, the final remarks and presentation with financial guidance will be available following the broadcast, and an archived version will be available at the same location for one year.
Environmental, Social and Governance (ESG)
Our Environmental, Social and Governance (ESG) efforts focus on driving positive impact for people and our planet while delivering long-term value for our stakeholders. ESG resources can be accessed at https://www.dell.com/en-us/dt/corporate/social-impact/reporting/esg-governance.htm
About Dell Technologies
Dell Technologies (NYSE:DELL) helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the data era.
Copyright © 2024 Dell Inc. or its subsidiaries. All Rights Reserved. Dell Technologies, Dell, EMC and Dell EMC are trademarks of Dell Inc. or its subsidiaries. Other trademarks may be trademarks of their respective owners.
Non-GAAP Financial Measures:
This press release presents information about non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow, and adjusted free cash flow which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided in the attached tables for each of the fiscal periods indicated.
Special Note on Forward-Looking Statements:
Statements in this press release that relate to future results and events are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933 and are based on Dell Technologies’ current expectations. In some cases, you can identify these statements by such forward-looking words as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “will” and “would,” or similar words or expressions that refer to future events or outcomes.
Dell Technologies’ results or events in future periods could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: adverse global economic conditions and instability in financial markets; competitive pressures; Dell Technologies’ reliance on third-party suppliers for products and components, including reliance on single-source or limited-source suppliers; Dell Technologies’ ability to achieve favorable pricing from its vendors; Dell Technologies’ execution of its strategy; Dell Technologies’ ability to manage solutions and products and services transitions in an effective manner; Dell Technologies’ ability to deliver high-quality products, software, and services; cyber attacks or other data security incidents; Dell Technologies’ ability to successfully execute on strategic initiatives including acquisitions, divestitures or cost savings measures; Dell Technologies’ foreign operations and ability to generate substantial non-U.S. net revenue; Dell Technologies’ product, services, customer, and geographic sales mix, and seasonal sales trends; the performance of Dell Technologies’ sales channel partners; access to the capital markets by Dell Technologies or its customers; material impairment of the value of goodwill or intangible assets; adverse economic conditions and the effect of additional regulation on Dell Technologies’ financial services activities; counterparty default risks; the loss by Dell Technologies of any contracts for ISG services and solutions and its ability to perform such contracts at their estimated costs; loss by Dell Technologies of government contracts; Dell Technologies’ ability to develop and protect its proprietary intellectual property or obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; disruptions in Dell Technologies’ infrastructure; Dell Technologies’ ability to hedge effectively its exposure to fluctuations in foreign currency exchange rates and interest rates; expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other tax compliance matters; impairment of portfolio investments; unfavorable results of legal proceedings; expectations relating to environmental, social and governance (ESG) considerations; compliance requirements of changing environmental and safety laws, human rights laws, or other laws; the effect of armed hostilities, terrorism, natural disasters, or public health issues; the effect of global climate change and legal, regulatory, or market measures to address climate change; Dell Technologies’ dependence on the services of Michael Dell and key employees; Dell Technologies’ level of indebtedness; and business and financial factors and legal restrictions affecting continuation of Dell Technologies’ quarterly cash dividend policy and dividend rate.
This list of risks, uncertainties, and other factors is not complete. Dell Technologies discusses some of these matters more fully, as well as certain risk factors that could affect Dell Technologies’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Dell Technologies’ annual report on Form 10-K for the fiscal year ended February 3, 2023, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Dell Technologies makes may turn out to be wrong and can be affected by inaccurate assumptions Dell Technologies might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. Dell Technologies does not undertake to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date they are made, new information, or otherwise.
DELL TECHNOLOGIES INC.
Consolidated Statements of Income and Related Financial Highlights
(in millions, except percentages; unaudited)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
Change
February 2,
2024
February 3,
2023
Change
Net revenue:
Products
$ 16,149
$ 19,038
(15) %
$ 64,353
$ 79,250
(19) %
Services
6,169
6,001
3 %
24,072
23,051
4 %
Total net revenue
22,318
25,039
(11) %
88,425
102,301
(14) %
Cost of net revenue:
Products
13,393
15,748
(15) %
53,316
66,029
(19) %
Services
3,609
3,535
2 %
14,240
13,586
5 %
Total cost of net revenue
17,002
19,283
(12) %
67,556
79,615
(15) %
Gross margin
5,316
5,756
(8) %
20,869
22,686
(8) %
Operating expenses:
Selling, general, and administrative
3,109
3,772
(18) %
12,857
14,136
(9) %
Research and development
716
795
(10) %
2,801
2,779
1 %
Total operating expenses
3,825
4,567
(16) %
15,658
16,915
(7) %
Operating income
1,491
1,189
25 %
5,211
5,771
(10) %
Interest and other, net
(203)
(266)
24 %
(1,324)
(2,546)
48 %
Income before income taxes
1,288
923
40 %
3,887
3,225
21 %
Income tax expense
130
317
(59) %
692
803
(14) %
Net income
1,158
606
91 %
3,195
2,422
32 %
Less: Net loss attributable to non-controlling interests
(2)
(8)
75 %
(16)
(20)
20 %
Net income attributable to Dell Technologies Inc.
$ 1,160
$ 614
89 %
$ 3,211
$ 2,442
31 %
Percentage of Total Net Revenue:
Gross margin
23.8 %
23.0 %
23.6 %
22.2 %
Selling, general, and administrative
13.9 %
15.1 %
14.5 %
13.9 %
Research and development
3.2 %
3.2 %
3.2 %
2.7 %
Operating expenses
17.1 %
18.3 %
17.7 %
16.6 %
Operating income
6.7 %
4.7 %
5.9 %
5.6 %
Income before income taxes
5.8 %
3.7 %
4.4 %
3.2 %
Net income
5.2 %
2.4 %
3.6 %
2.4 %
Income tax rate
10.1 %
34.3 %
17.8 %
24.9 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Consolidated Statements of Financial Position
(in millions; unaudited)
February 2, 2024
February 3, 2023
ASSETS
Current assets:
Cash and cash equivalents
$ 7,366
$ 8,607
Accounts receivable, net of allowance of $71 and $78
9,343
12,482
Due from related party, net
—
378
Short-term financing receivables, net of allowance of $79 and $142
4,643
5,281
Inventories
3,622
4,776
Other current assets
10,957
10,827
Current assets held for sale
16
—
Total current assets
35,947
42,351
Property, plant, and equipment, net
6,432
6,209
Long-term investments
1,316
1,518
Long-term financing receivables, net of allowance of $91 and $59
5,877
5,638
Goodwill
19,700
19,676
Intangible assets, net
5,701
6,468
Due from related party, net
—
440
Other non-current assets
7,116
7,311
Total assets
$ 82,089
$ 89,611
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt
$ 6,982
$ 6,573
Accounts payable
19,389
18,598
Due to related party
—
2,067
Accrued and other
6,805
8,874
Short-term deferred revenue
15,318
15,542
Total current liabilities
48,494
51,654
Long-term debt
19,012
23,015
Long-term deferred revenue
13,827
14,744
Other non-current liabilities
3,065
3,223
Total liabilities
84,398
92,636
Stockholders’ equity (deficit):
Total Dell Technologies Inc. stockholders’ equity (deficit)
(2,404)
(3,122)
Non-controlling interests
95
97
Total stockholders’ equity (deficit)
(2,309)
(3,025)
Total liabilities and stockholders’ equity
$ 82,089
$ 89,611
DELL TECHNOLOGIES INC.
Consolidated Statements of Cash Flows
(in millions; unaudited)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
February 2,
2024
February 3,
2023
Cash flows from operating activities:
Net income
$ 1,158
$ 606
$ 3,195
$ 2,422
Adjustments to reconcile net income to net cash provided by
operating activities:
375
2,108
5,481
1,143
Change in cash from operating activities
1,533
2,714
8,676
3,565
Cash flows from investing activities:
Purchases of investments
(29)
(7)
(172)
(108)
Maturities and sales of investments
76
17
226
116
Capital expenditures and capitalized software development
costs
(727)
(759)
(2,756)
(3,003)
Acquisition of businesses and assets, net
1
(70)
(126)
(70)
Other
10
23
45
41
Change in cash from investing activities
(669)
(796)
(2,783)
(3,024)
Cash flows from financing activities:
Proceeds from the issuance of common stock
2
—
10
5
Repurchases of common stock
(878)
(165)
(2,080)
(2,883)
Repurchases of common stock for employee tax withholdings
(18)
(18)
(372)
(398)
Payments of dividends and dividend equivalents
(261)
(236)
(1,072)
(964)
Proceeds from debt
871
3,700
7,775
12,479
Repayments of debt
(1,480)
(1,746)
(11,246)
(9,825)
Debt-related costs and other, net
(55)
(22)
(109)
(39)
Change in cash from financing activities
(1,819)
1,513
(7,094)
(1,625)
Effect of exchange rate changes on cash, cash
equivalents, and restricted cash
14
239
(186)
(104)
Change in cash, cash equivalents, and restricted cash
(941)
3,670
(1,387)
(1,188)
Cash, cash equivalents, and restricted cash at beginning of the
period
8,448
5,224
8,894
10,082
Cash, cash equivalents, and restricted cash at end of the
period
$ 7,507
$ 8,894
$ 7,507
$ 8,894
DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
Change
February 2,
2024
February 3,
2023
Change
Infrastructure Solutions Group (ISG):
Net revenue:
Servers and networking
$ 4,857
$ 4,940
(2) %
$ 17,624
$ 20,398
(14) %
Storage
4,475
4,965
(10) %
16,261
17,958
(9) %
Total ISG net revenue
$ 9,332
$ 9,905
(6) %
$ 33,885
$ 38,356
(12) %
Operating Income:
ISG operating income
$ 1,428
$ 1,543
(7) %
$ 4,286
$ 5,045
(15) %
% of ISG net revenue
15.3 %
15.6 %
12.6 %
13.2 %
% of total reportable segment operating income
66 %
70 %
55 %
57 %
Client Solutions Group (CSG):
Net revenue:
Commercial
$ 9,563
$ 10,697
(11) %
$ 39,814
$ 45,556
(13) %
Consumer
2,152
2,664
(19) %
9,102
12,657
(28) %
Total CSG net revenue
$ 11,715
$ 13,361
(12) %
$ 48,916
$ 58,213
(16) %
Operating Income:
CSG operating income
$ 726
$ 671
8 %
$ 3,512
$ 3,824
(8) %
% of CSG net revenue
6.2 %
5.0 %
7.2 %
6.6 %
% of total reportable segment operating income
34 %
30 %
45 %
43 %
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Segment Information
(in millions, except percentages; unaudited; continued)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
February 2,
2024
February 3,
2023
Reconciliation to consolidated net revenue:
Reportable segment net revenue
$ 21,047
$ 23,266
$ 82,801
$ 96,569
Other businesses (a)
1,269
1,770
5,614
5,721
Unallocated transactions (b)
2
3
10
11
Total consolidated net revenue
$ 22,318
$ 25,039
$ 88,425
$ 102,301
Reconciliation to consolidated operating income:
Reportable segment operating income
$ 2,154
$ 2,214
$ 7,798
$ 8,869
Other businesses (a)
(17)
(48)
(129)
(240)
Unallocated transactions (b)
2
4
9
8
Impact of purchase accounting (c)
(4)
(11)
(14)
(44)
Amortization of intangibles
(206)
(238)
(819)
(970)
Transaction-related expenses (d)
(3)
(6)
(12)
(22)
Stock-based compensation expense (e)
(203)
(228)
(878)
(931)
Other corporate expenses (f)
(232)
(498)
(744)
(899)
Total consolidated operating income
$ 1,491
$ 1,189
$ 5,211
$ 5,771
_________________
(a)
Other businesses consists of: 1) Dell’s resale of standalone VMware, Inc. products and services, “VMware Resale,” 2) Secureworks, and 3) Virtustream, and do not meet the requirements for a reportable segment, either individually or collectively.
(b)
Unallocated transactions includes other corporate items that are not allocated to Dell Technologies’ reportable segments.
(c)
Impact of purchase accounting includes non-cash purchase accounting adjustments that are primarily related to the EMC merger transaction.
(d)
Transaction-related expenses includes acquisition, integration, and divestiture related costs. From time to time, this category also may include transaction-related income related to divestitures of businesses or asset sales.
(e)
Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date.
(f)
Other corporate expenses includes severance, impairment charges, incentive charges related to equity investments, payroll taxes associated with stock-based compensation, facilities action, and other costs.
SUPPLEMENTAL SELECTED NON-GAAP FINANCIAL MEASURES
These tables present information about the Company’s non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP net income attributable to Dell Technologies Inc., non-GAAP earnings per share attributable to Dell Technologies Inc. – diluted, free cash flow and adjusted free cash flow, which are non-GAAP financial measures provided as a supplement to the results provided in accordance with generally accepted accounting principles in the United States of America (“GAAP”). A detailed discussion of Dell Technologies’ reasons for including these non-GAAP financial measures, the limitations associated with these measures, the items excluded from these measures, and our reason for excluding those items are presented in “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Non-GAAP Financial Measures” in our periodic reports filed with the SEC. Dell Technologies encourages investors to review the non-GAAP discussion in these reports in conjunction with the presentation of non-GAAP financial measures.
DELL TECHNOLOGIES INC.
Selected Financial Measures
(in millions, except per share amounts and percentages; unaudited)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
%
Change
February 2,
2024
February 3,
2023
Change
Net revenue (a)
$ 22,318
$ 25,039
(11) %
$ 88,425
$ 102,301
(14) %
Non-GAAP gross margin
$ 5,468
$ 5,971
(8) %
$ 21,444
$ 23,427
(8) %
% of non-GAAP net revenue
24.5 %
23.8 %
24.3 %
22.9 %
Non-GAAP operating expenses
$ 3,329
$ 3,801
(12) %
$ 13,766
$ 14,790
(7) %
% of non-GAAP net revenue
14.9 %
15.1 %
15.6 %
14.5 %
Non-GAAP operating income
$ 2,139
$ 2,170
(1) %
$ 7,678
$ 8,637
(11) %
% of non-GAAP net revenue
9.6 %
8.7 %
8.7 %
8.4 %
Non-GAAP net income
$ 1,610
$ 1,322
22 %
$ 5,245
$ 5,727
(8) %
% of non-GAAP net revenue
7.2 %
5.3 %
5.9 %
5.6 %
Non-GAAP earnings per share – diluted
$ 2.20
$ 1.80
22 %
$ 7.13
$ 7.61
(6) %
____________________
(a)
Effective in the first quarter of Fiscal 2023, non-GAAP net revenue no longer differs from net revenue, the most comparable GAAP financial measure.
Amounts are based on underlying data and may not visually foot due to rounding.
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued on next page)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
%
Change
February 2,
2024
February 3,
2023
%
Change
Gross margin
$ 5,316
$ 5,756
(8) %
$ 20,869
$ 22,686
(8) %
Non-GAAP adjustments:
Amortization of intangibles
84
99
331
414
Impact of purchase accounting
—
—
—
2
Stock-based compensation expense
37
40
149
152
Other corporate expenses
31
76
95
173
Non-GAAP gross margin
$ 5,468
$ 5,971
(8) %
$ 21,444
$ 23,427
(8) %
Operating expenses
$ 3,825
$ 4,567
(16) %
$ 15,658
$ 16,915
(7) %
Non-GAAP adjustments:
Amortization of intangibles
(122)
(139)
(488)
(556)
Impact of purchase accounting
(4)
(11)
(14)
(42)
Transaction-related expenses
(3)
(6)
(12)
(22)
Stock-based compensation expense
(166)
(188)
(729)
(779)
Other corporate expenses
(201)
(422)
(649)
(726)
Non-GAAP operating expenses
$ 3,329
$ 3,801
(12) %
$ 13,766
$ 14,790
(7) %
Operating income
$ 1,491
$ 1,189
25 %
$ 5,211
$ 5,771
(10) %
Non-GAAP adjustments:
Amortization of intangibles
206
238
819
970
Impact of purchase accounting
4
11
14
44
Transaction-related expenses
3
6
12
22
Stock-based compensation expense
203
228
878
931
Other corporate expenses
232
498
744
899
Non-GAAP operating income
$ 2,139
$ 2,170
(1) %
$ 7,678
$ 8,637
(11) %
Net income
$ 1,158
$ 606
91 %
$ 3,195
$ 2,422
32 %
Non-GAAP adjustments:
Amortization of intangibles
206
238
819
970
Impact of purchase accounting
4
11
14
44
Transaction-related (income) expenses
(5)
(14)
49
(16)
Stock-based compensation expense
203
228
878
931
Other corporate expenses
232
392
744
1,812
Fair value adjustments on equity investments
(83)
9
(47)
206
Aggregate adjustment for income taxes
(105)
(148)
(407)
(642)
Non-GAAP net income
$ 1,610
$ 1,322
22 %
$ 5,245
$ 5,727
(8) %
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(unaudited; continued)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
%
Change
February 2,
2024
February 3,
2023
%
Change
Earnings per share attributable to Dell
Technologies, Inc. – diluted
$ 1.59
$ 0.84
89 %
$ 4.36
$ 3.24
35 %
Non-GAAP adjustments:
Amortization of intangibles
0.28
0.32
1.11
1.29
Impact of purchase accounting
0.01
0.01
0.02
0.06
Transaction-related (income) expenses
(0.01)
(0.02)
0.07
(0.02)
Stock-based compensation expense
0.28
0.31
1.19
1.24
Other corporate expenses
0.32
0.53
1.01
2.41
Fair value adjustments on equity
investments
(0.11)
0.01
(0.06)
0.27
Aggregate adjustment for income taxes
(0.15)
(0.19)
(0.55)
(0.86)
Total non-GAAP adjustments attributable
to non-controlling interests
(0.01)
(0.01)
(0.02)
(0.02)
Non-GAAP earnings per share
attributable to Dell Technologies, Inc. –
diluted
$ 2.20
$ 1.80
22 %
$ 7.13
$ 7.61
(6) %
DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)
Three Months Ended
Fiscal Year Ended
February 2,
2024
February 3,
2023
%
Change
February 2,
2024
February 3,
2023
%
Change
Cash flow from operations
$ 1,533
$ 2,714
(44) %
$ 8,676
$ 3,565
143 %
Non-GAAP adjustments:
Capital expenditures and capitalized
software development costs, net (a)
(727)
(749)
(2,753)
(2,993)
Free cash flow
$ 806
$ 1,965
(59) %
$ 5,923
$ 572
935 %
Free cash flow
$ 806
$ 1,965
(59) %
$ 5,923
$ 572
935 %
Non-GAAP adjustments:
DFS financing receivables (b)
136
175
(309)
461
DFS operating leases (c)
68
127
(7)
500
Adjusted free cash flow
$ 1,010
$ 2,267
(55) %
$ 5,607
$ 1,533
266 %
____________________
(a)
Capital expenditures and capitalized software development costs is net of proceeds from sales of facilities, land, and other assets.
(b)
DFS financing receivables represents the operating cash flow impact from the change in financing receivables.
(c)
DFS operating leases represents the change in net carrying value of equipment for DFS operating leases.
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SOURCE Dell Technologies
You may like
The wholesale purchase acquisition will preserve Fiery as an independent DFE provider and strengthen its industry leadership.
FREMONT, Calif., Sept. 18, 2024 /PRNewswire/ — Fiery, LLC (“Fiery”), the print industry’s leading innovator of digital front ends (DFEs) and workflow software, today announced that Fiery’s ownership has entered into an agreement with Seiko Epson Corporation (“Epson”) whereby Epson will acquire Fiery from Siris Capital Group, LLC (“Siris”, together with its affiliates, including Electronics for Imaging, Inc.) in a transaction valued at approximately $591 million.
Fiery’s industry-leading products have enabled the exceptional color, personalization, performance, and efficiency that print businesses have relied on for more than three decades. Fiery’s software, server, and workflow solutions will complement Epson’s strategic vision and hardware leadership to drive growth across a broad range of print devices and applications.
By joining Epson, a global leader in innovation, Fiery is better positioned to scale, drive innovation, and continue delivering cutting-edge solutions to its customers while maintaining its independence in areas where the company excels.
Following the consummation of the transaction, Fiery will continue to operate as an independent provider of DFEs and workflow solutions to empower OEM partners to deliver the best possible output from their devices and accelerate the development of digital printing around the world.
“Epson’s acquisition of Fiery showcases the uniquely important role we play in enabling success across the entire print industry,” said Toby Weiss, CEO of Fiery. “Fiery has a demonstrated track record of empowering OEM partners to deliver the best possible results for its customers, and we look forward to building upon this legacy with Epson and our valued partners. I’d also like to thank Frank and the entire Siris team for their invaluable guidance and expertise.”
“We are delighted to welcome Fiery into the Epson Group. We are confident that this agreement will not only drive further growth in our commercial and industrial printing businesses but also accelerate the digital transformation of the analog printing market in an innovative way,” said Yasunori Ogawa, President and Representative Director, Epson. “Together with Fiery, we remain committed to contributing to our customers’ success and enhancing corporate value as we pursue new opportunities in the evolving printing landscape.”
Siris acquired Fiery as part of Siris’s take-private acquisition of Electronics for Imaging, Inc. (“EFI”) in 2019. Under Siris’ ownership, Fiery separated from EFI in 2021 to become an independent company.
“Under our ownership, Toby and the Fiery team accelerated investments in innovative technologies and expanded the product portfolio for the benefit of their OEM partners,” said Frank Baker, a Co-Founder and Managing Partner at Siris. “Epson is the ideal partner for Fiery’s next chapter, and we look forward to seeing how Fiery builds upon its leading position within the print industry moving forward.”
DC Advisory and UBS Investment Bank acted as exclusive financial advisors to EFI in connection with the sale of its interests in Fiery to Epson.
The transaction remains subject to customary closing conditions including regulatory approvals and is expected to close within 2024.
About Fiery
Fiery is the leading provider of digital front ends (DFEs) and workflow solutions for the global print industry. With a customer base that includes over 2 million DFEs sold worldwide, Fiery’s industry-leading software and cloud-based technologies deliver the best possible performance, color, and print quality across a broad range of production printing devices.
Fiery’s innovative solutions empower commercial print, industrial, packaging, signs and display graphics, ceramics, building materials, textiles, and more. Through over 30 years of excellent support and service, Fiery has built an unmatched community of customers, dealers, and partners.
About Epson
Epson is a global technology leader whose philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson’s goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion. www.global.epson.com
About Siris
Siris is a leading private equity firm that targets control investments in companies that provide mission-critical technology infrastructure. Siris leverages its network of exclusive Executive Partners to identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and has approximately $7 billion in assets under management as of September 30, 2023.
Forward-Looking Statements
Except for historical information, all other information in this communication consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and related oral statements Fiery may make, are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. For example, (1) conditions to the closing of the transaction may not be satisfied, (2) the timing of completion of the transactions is uncertain, (3) the business of Fiery may suffer as a result of uncertainty surrounding the transaction, (4) events, changes or other circumstances could occur that could give rise to the termination of the agreement, (5) there are risks related to disruption of the management’s attention from the ongoing business operations of Fiery due to the transaction, (6) the announcement or pendency of the transaction could affect the relationships of Fiery with its clients, operating results and business generally, including on the ability of Fiery to retain employees, (7) the outcome of any legal proceedings initiated against Fiery following the announcement of the transaction could adversely affect Fiery, including the ability to consummate the transaction, and (8) Fiery may be adversely affected by other economic, business, and/or competitive factors, as well as management’s response to any of the aforementioned factors. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Fiery does not undertake any obligation to update, correct or otherwise revise any forward-looking statements.
Fiery is a registered trademarks of Fiery, LLC in the U.S. and/or certain other countries. All other terms and product names may be trademarks or registered trademarks of their respective owners and are hereby acknowledged.
Nothing herein should be construed as a warranty in addition to the express warranty statements provided with Fiery products and services.
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SOURCE Fiery
Technology
Siris Announces Sale of Fiery to Seiko Epson Corporation
Published
1 hour agoon
September 18, 2024By
During its ownership period, Siris partnered with Fiery to expand product portfolio and deepen strategic partnerships
NEW YORK, Sept. 18, 2024 /PRNewswire/ — Siris (together with its affiliates, including Electronics for Imaging, “Siris”), a leading private equity firm focused on investing and driving value creation in technology companies, today announced the sale of Fiery, LLC (“Fiery”) to global technology leader Seiko Epson Corporation (“Epson”) in a transaction valued at approximately $591 million.
Fiery is a leading provider of digital front end (“DFE”) servers and workflow solutions for the growing industrial and graphic arts print sectors. Utilizing a combination of software and cloud-based technologies, Fiery has a demonstrated track record of delivering fast performance, stunning color and exceptional print quality across a broad range of production printing devices.
Fiery was acquired as part of Siris’ take-private acquisition of EFI in 2019. As part of its value creation strategy, Siris operationalized Fiery as an independent company in order to position it for a strategic exit. The divestiture of Fiery is the second carveout that Siris has completed from the broader EFI portfolio, after previously selling eProductivity Software to Symphony Technology Group, announced in 2022.
“Since our investment in Fiery in 2019, Toby and the team have grown the company’s leadership position in the DFE market, making significant progress expanding the product portfolio and deepening strategic partnerships,” said Frank Baker, a Co-Founder and Managing Partner at Siris. “Our partnership with Fiery is a great example of how we partner with management teams to drive value and position companies for continued long-term success. We look forward to seeing how the company continues to thrive with Epson moving forward.”
Mr. Baker added, “Post separation and divestiture of Fiery and eProductivity Software, EFI is now a streamlined, leading provider of industrial inkjet solutions for the display graphics, packaging and textiles industries with a broad range of printers, inks and service capabilities. We will continue to support EFI as it drives the exciting digital printing transition across a broad range of industrial end markets globally.”
“With Siris’ partnership and investment, we successfully raised the standards of digital printing excellence across a diverse range of operating segments,” said Toby Weiss, Chief Executive Officer of Fiery. “We are thrilled to embark on our next phase of growth alongside Epson, as we continue to provide our customers with dynamic solutions for their digital printing needs.”
The transaction is expected to close within 2024, subject to customary closing conditions including required regulatory approvals. Upon transaction close, Fiery will become part of the Epson group, retain its current name and organizational structure and continue to operate from its existing offices.
DC Advisory and UBS Investment Bank acted as exclusive financial advisors to EFI in connection with the sale of its interests in Fiery, LLC to Seiko Epson Corporation. Sidley Austin LLP served as legal advisor to Siris.
About Siris
Siris is a leading private equity firm that targets control investments in companies that provide mission-critical technology infrastructure. Siris leverages its network of exclusive Executive Partners to identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and has approximately $7 billion in assets under management as of December 31, 2023. https://siris.com/
About Fiery
Fiery is the leading provider of digital front ends (DFEs) and workflow solutions for the global print industry. With a customer base that includes over 2 million DFEs sold worldwide, Fiery’s industry-leading software and cloud-based technologies deliver the best possible performance, color, and print quality across a broad range of production printing devices.
Fiery’s innovative solutions empower commercial print, industrial, packaging, signs and display graphics, ceramics, building materials, textiles, and more. Through over 30 years of excellent support and service, Fiery has built an unmatched community of customers, dealers, and partners.
Forward-Looking Statements
Except for historical information, all other information in this communication consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and related oral statements Siris may make, are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. For example, (1) conditions to the closing of the transaction may not be satisfied, (2) the timing of completion of the transactions is uncertain, (3) the business of Fiery may suffer as a result of uncertainty surrounding the transaction, (4) events, changes or other circumstances could occur that could give rise to the termination of the agreement, (5) there are risks related to disruption of the management’s attention from the ongoing business operations of Fiery due to the transaction, (6) the announcement or pendency of the transaction could affect the relationships of Fiery with its clients, operating results and business generally, including on the ability of Fiery to retain employees, (7) the outcome of any legal proceedings initiated against Fiery following the announcement of the transaction could adversely affect Fiery, including the ability to consummate the transaction, and (8) Fiery may be adversely affected by other economic, business, and/or competitive factors, as well as management’s response to any of the aforementioned factors.
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Siris does not undertake any obligation to update, correct or otherwise revise any forward-looking statements.
View original content to download multimedia:https://www.prnewswire.com/news-releases/siris-announces-sale-of-fiery-to-seiko-epson-corporation-302252493.html
SOURCE Siris Capital Group, LLC
Technology
Inspection Robots Market to Grow by USD 5.70 Billion from 2024-2028, with AI Driven Advantages Over Manual Methods Boosting Revenue – Technavio Report
Published
2 hours agoon
September 18, 2024By
NEW YORK, Sept. 18, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global inspection robots market size is estimated to grow by USD 5.70 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 19.86% during the forecast period. Advantages of robotic inspection over manual inspection is driving market growth, with a trend towards shift towards cloud-based solutions in inspection robots. However, rising levels of unemployment due to use of robotics poses a challenge. Key market players include Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations, Eddyfi Technologies, FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co., Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd., IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Type (ROVs and Autonomous robots), End-user (Oil and gas, Petrochemicals, Food and beverages, and Others), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)
Region Covered
Europe, North America, APAC, South America, and Middle East and Africa
Key companies profiled
Blue Origin Enterprises LP, Cognex Corp., Cross Co., Cyberhawk Innovations, Eddyfi Technologies, FARO Technologies Inc., Flyability SA, GECKO ROBOTICS INC., General Electric Co., Genesis Systems, Groupe Gorge SA, Invert Robotics Group Ltd., IPG Photonics Corp., JH Robotics Inc, Mistras Group Inc., Robotic Automation Systems, SuperDroid Robots Inc., TechnipFMC plc, and Teradyne Inc.
Key Market Trends Fueling Growth
The global inspection robots market is experiencing notable growth due to the adoption of cloud-based solutions. Cloud computing technologies are increasingly being utilized in this industry to facilitate data storage, processing, and analysis. Cloud-based inspection robots offer several advantages, including scalability, flexibility, and accessibility. Users can access inspection data from any location and collaborate with remote teams in real-time. Predictive maintenance is also facilitated through the analysis of historical inspection data. Cloud platforms enable secure sharing of inspection data among authorized users, promoting collaborative workflows and knowledge sharing. Real-time communication and updates ensure that stakeholders remain informed about inspection activities and results. The shift towards cloud-based solutions is driving the growth potential of the global inspection robots market by enhancing efficiency and effectiveness in inspection operations, improving asset management, and boosting overall performance.
Inspection robots are gaining popularity in various industries due to the need for worker safety and the adoption of collaborative robots or cobots. These robots are equipped with sensors, cameras, and specialized tools to collect data from assets in manufacturing, construction, energy, and other sectors. They can access hard-to-reach areas, hazardous environments, and confined spaces, providing real-time visual information for maintenance assessment and safety inspections. Businesses are recognizing the complementary need for human workers and robots, with robots taking on repetitive, dangerous, or time-consuming tasks. Initial investment in inspection robots includes training and infrastructure modifications, but the long-term benefits include increased cost-efficiency, consistency, and informed decisions based on real-time data. However, economic downturns and travel restrictions may hinder robot deployment, making it essential for businesses to consider the versatility and advanced sensors of inspection robots, such as lidar, for maximum effectiveness. Despite the initial costs, the benefits of worker safety, human intervention, and data collection make inspection robots a worthwhile investment.
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Market Challenges
The integration of robots and robotic applications in various industries, including manufacturing, has significantly boosted productivity, economies of scale, and cost savings. However, this automation trend raises concerns about employment, as it may lead to job losses. Process automation, fueled by machine learning and artificial intelligence, is increasingly common in manufacturing, transportation, finance, and energy management. While these technologies offer performance advantages, they also pose a threat to white-collar and blue-collar jobs, particularly those involving routine, process-driven tasks. Unemployment resulting from automation may lead to income inequality and a need for workforce skill development. Governments in North America and Europe are addressing this challenge by formulating strategies to mitigate the impact of robotic automation on employment. As a result, the rising unemployment rate may hinder the growth of the global inspection robots market during the forecast period.The Inspection Robots Market is experiencing significant growth due to the increasing demand for automation in various industries. However, challenges persist. Injuries and accidents during robot operation pose safety concerns. Data organization and operational costs are key challenges in implementing robot inspections. Integration of cameras, electronics, and operating software requires specialized skills. Robots must navigate hazardous situations, making safety a top priority. The Hotel and Transport industries are major adopters, with the Internet of Things and Artificial Intelligence driving innovation. However, lack of standardization and testing methodologies hinder market growth. Mobile robots in the Mobile Robots segment lead in terms of adoption due to their ease of use and versatility. The Pharmaceutical segment benefits from robots’ efficiency and accuracy in product inspection. Patents and intellectual property are crucial for market leaders like Cognite, Honeybee Robotics, Universal Robots, Inuktun Services, LEO Robotics, and Superdroid Robotics. Robot types include collaborative robots and human-robot cooperation models, with AI and quadruped robot dogs leading the way. Safety, ease of use, and specialized training are essential considerations. Testing Type, such as non-destructive testing and visual inspection, are critical applications. The market’s future lies in the development of more advanced robots and the integration of AI for improved human-robot cooperation in quality control.
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Segment Overview
This inspection robots market report extensively covers market segmentation by
Type 1.1 ROVs1.2 Autonomous robotsEnd-user 2.1 Oil and gas2.2 Petrochemicals2.3 Food and beverages2.4 OthersGeography 3.1 Europe3.2 North America3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 ROVs- ROV (Remotely Operated Vehicles), also known as inspection robots, are mobile devices controlled from a central unit, typically tethered through a cable. Their diverse shapes and designs increase flexibility and performance, driving market growth. ROVs, primarily used for underwater exploration and inspection, have low power requirements and are easy to operate. Their affordability, low maintenance costs, and suitability for confined spaces make them popular in industries requiring assistance in navigating critical areas. These factors contribute to the revenue generation of the ROV inspection robot market.
Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)
Research Analysis
Inspection robots are revolutionizing industries by automating quality control and product inspection processes, enhancing efficiency and accuracy while ensuring worker safety. These robots, including Cognite’s quadruped robot dog and ANYbotics’ human-robot cooperation models, employ AI and machine learning to identify faults, failures, leakages, and other critical issues. The adoption of cobots, such as those from Universal Robots and Mitsubishi Electric Corporation, allows for human-robot cooperation in various scenarios. Inspection robots are essential in unmanned facilities, remote locations, and harsh environments, where human presence is limited or dangerous. These robots can navigate complex terrain, inspect hard-to-reach areas, and work in extreme temperatures, ensuring the quality of products and the reliability of transportation systems. Fully autonomous inspection robots are increasingly being adopted to streamline processes and reduce costs, making them an indispensable tool for modern manufacturing and production.
Market Research Overview
Inspection robots are transforming industries by providing efficient and accurate solutions for quality control and maintenance assessment in various sectors. These robots, including quadruped robot dogs, utilize AI and collaborative robots for human-robot cooperation. They are equipped with sensors, cameras, and specialized tools to inspect assets and infrastructure in manufacturing, energy, construction, and other industries. The adoption of these robots is a complementary need to human workers, enhancing safety and consistency in product inspection and maintenance. Inspection robots are particularly valuable in harsh environments, confined spaces, and hazardous areas, where human intervention is risky or inefficient. Real-time data collection and analysis enable informed decisions, increasing cost-efficiency and effectiveness. Advanced sensors, such as lidar, ultrasonic, and thermal imaging, enable accurate defect detection and anomaly identification, leading to predictive maintenance and inspection efficiency. Businesses are investing in inspection robots to improve safety, reliability, and productivity. However, initial investment, training, and infrastructure modifications can be significant. Economic downturns and travel restrictions may impact robot deployment, but the long-term benefits outweigh the costs. Inspection robots are customizable, with options for mobile service robots, vision sensors, and semi-autonomous or fully autonomous operation. They are essential for critical scenarios, unmanned facilities, and remote locations, providing real-time data for informed decisions and ensuring safety in various industries, including aerospace, automotive, and oil and gas.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TypeROVsAutonomous RobotsEnd-userOil And GasPetrochemicalsFood And BeveragesOthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
Fiery to be Acquired by Epson
Siris Announces Sale of Fiery to Seiko Epson Corporation
Inspection Robots Market to Grow by USD 5.70 Billion from 2024-2028, with AI Driven Advantages Over Manual Methods Boosting Revenue – Technavio Report
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