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Allot Announces First Quarter 2024 Financial Results

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7 months ago

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HOD HASHARON, Israel, May 29, 2024 /PRNewswire/ — Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, today announced its unaudited first quarter 2024 financial results.

Financial Highlights for the First Quarter

First quarter revenues were $21.9 million, up 4% year-over-year;First quarter gross margins improved year over year by 8.1% to 69.0% on a GAAP basis and by 4.7% to 70.4% on a non-GAAP basis;SECaaS revenues were $3.4 million for Q1 up 51% year-over-year and March 2024 SECaaS ARR* was $13.7 million;Net loss improved and was reduced significantly year over year: on a GAAP basis, net loss reduced by 77.9% to $2.5 million and on a non-GAAP basis, net loss reduced by 88.8% to $0.9 million;

Financial Outlook

For the full year 2024, management reiterates that it expects:

Non-GAAP operating profit and net cash flow breakeven;Continued yearly double-digit growth of SECaaS revenues and ARR;

Management Comment

Eyal Harari, CEO of Allot commented, “We are pleased with the strong progress we have made stabilizing the business and lowering expenses to align our operating costs to current revenue levels. Revenues improved year-over-year, and we lowered our expenses by 26% (on a Non-GAAP basis), significantly reducing our operating and net loss. We are working hard to bring the business back to profitability while maintaining our investment in our long-term growth engine, Security as a Service (SECaaS).”

“I am thrilled with the opportunity to join Allot. I believe we have a bright future, and I am looking forward to working with the Allot team to drive profitable growth,” added Mr. Harari.

Q1 2024 Financial Results Summary

Total revenues for the first quarter of 2024 were $21.9 million, an increase of 4% compared to $21.1 million in the first quarter of 2023.

Gross profit on a GAAP basis for the first quarter of 2024 was $15.1 million (gross margin of 69.0%), a 12% increase compared with $13.5 million (gross margin of 63.8%) in the first quarter of 2023.

Gross profit on a non-GAAP basis for the first quarter of 2024 was $15.4 million (gross margin of 70.4%), an 8% increase compared with $14.2 million (gross margin of 67.2%) in the first quarter of 2023.   

Net loss on a GAAP basis for the first quarter of 2024 was $2.5 million, or $0.07 per basic share, an improvement compared with a net loss of $11.4 million, or $0.30 per basic share, in the first quarter of 2023.

Net loss on a non-GAAP for the first quarter of 2024 was $0.9 million, or $0.03 per basic share an improvement compared with a non-GAAP net loss of $7.7 million, or $0.21 per basic share, in the first quarter of 2023.  

Cash, short-term bank deposits, and investments as of March 31, 2024, totaled $52.6 million, compared to $54.9 million as of December 31, 2023.

Conference Call & Webcast:

The Allot management team will host a conference call to discuss its first quarter 2024 earnings results today, May 29, 2024, at 9:00 am ET, 4:00 pm Israel time. To access the conference call, please dial one of the following numbers:

US: 1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0610

A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: http://investors.allot.com/index.cfm.

About Allot

Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed, and cloud service providers and over 1,000 enterprises. Our industry-leading network-based security as a service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure.

For more information, visit www.allot.com.

Performance Metrics

* Total ARR – Support & Maintenance ARR (measures the current annual run rate of support & maintenance revenues, which is calculated based on the expected revenues for the first quarter of 2024, excluding one-time items, and multiplied by 4) and SECaaS ARR (measures the current annual run rate of SECaaS revenues, which is calculated based on estimated revenues for the month of Mar. 2024 and multiplied by 12).

GAAP to Non-GAAP Reconciliation:

The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase accounting and excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment and changes in taxes-related items.

These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company’s core business and management uses the non-GAAP measures internally to evaluate the Company’s ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company’s operating performance.

Safe Harbor Statement

This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading “Risk Factors” in the Company’s annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Logo: https://mma.prnewswire.com/media/703889/Allot_Logo.jpg

Investor Relations Contact:
EK Global Investor Relations
Ehud Helft
+1 212 378 8040
allot@ekgir.com 

Public Relations Contact:
Seth Greenberg, 
Allot Ltd.
+972 54 922 2294
sgreenberg@allot.com  

 

 

TABLE  – 1

ALLOT LTD.

AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(U.S. dollars in thousands, except share and per share data)

Three Months Ended

March 31,

2024

2023

(Unaudited)

Revenues

$       21,890

$       21,126

Cost of revenues

6,792

7,651

Gross profit  

15,098

13,475

Operating expenses:

Research and development costs, net

7,149

10,494

Sales and marketing

7,790

10,887

General and administrative

2,902

3,960

Total operating expenses

17,841

25,341

Operating loss

(2,743)

(11,866)

Financial and other income, net

540

794

Loss before income tax expenses

(2,203)

(11,072)

Tax expenses

307

290

Net Loss

(2,510)

(11,362)

Basic net loss per share

$         (0.07)

$         (0.30)

Diluted net loss per share

$         (0.07)

$         (0.30)

Weighted average number of shares used in 

computing basic net loss per share

38,411,724

37,421,720

Weighted average number of shares used in 

computing diluted net loss per share

38,411,724

37,421,720

 

 

 

TABLE  – 2

ALLOT LTD.

AND ITS SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP  CONSOLIDATED  STATEMENTS  OF  OPERATIONS

(U.S. dollars in thousands, except per share data)

Three Months Ended

March 31,

2024

2023

(Unaudited)

GAAP cost of revenues

$          6,792

$          7,651

 Share-based compensation (1) 

(154)

(531)

 Amortization of intangible assets (2) 

(152)

(193)

Non-GAAP cost of revenues

$          6,486

$          6,927

 GAAP gross profit 

$        15,098

$        13,475

 Gross profit adjustments 

306

724

 Non-GAAP gross profit 

$        15,404

$        14,199

 GAAP operating expenses 

$        17,841

$        25,341

 Share-based compensation (1) 

(1,206)

(2,937)

 Non-GAAP operating expenses 

$        16,635

$        22,404

 GAAP financial and other income 

$             540

$            794

 Expenses related to M&A activities (3) 

–

14

 Exchange rate differences* 

94

(43)

 Non-GAAP Financial and other income 

$             634

$            765

 GAAP taxes on income 

$             307

$            290

 Changes in tax related items 

(44)

(25)

 Non-GAAP taxes on income 

$             263

$            265

 GAAP Net Loss 

$         (2,510)

$      (11,362)

 Share-based compensation (1) 

1,360

3,468

 Amortization of intangible assets (2) 

152

193

 Expenses related to M&A activities (3) 

–

14

 Exchange rate differences* 

94

(43)

 Changes in tax related items 

44

25

 Non-GAAP Net income (loss) 

$            (860)

$        (7,705)

 GAAP Loss per share (diluted) 

$           (0.07)

$          (0.30)

 Share-based compensation 

0.04

0.09

 Amortization of intangible assets

–

–

 Expenses related to M&A activities

–

–

 Exchange rate differences*

–

–

 Changes in tax related items

–

–

 Non-GAAP Net income (loss) per share (diluted) 

$           (0.03)

$          (0.21)

Weighted average number of shares used in 

computing GAAP diluted net loss per share

38,411,724

37,421,720

Weighted average number of shares used in 

computing non-GAAP diluted net loss per share

38,411,724

37,421,720

* Financial income or expenses related to exchange rate differences in connection with revaluation of assets and

 liabilities in non-dollar denominated currencies. 

 ** While amortization of acquired intangible assets is excluded from the measures, the revenue of the acquired  

 companies is reflected in the measures and the acquired assets contribute to revenue generation. 

TABLE  – 2 cont.

ALLOT LTD.

AND ITS SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP  CONSOLIDATED  STATEMENTS  OF  OPERATIONS

(U.S. dollars in thousands, except per share data)

Three Months Ended

March 31,

2024

2023

(Unaudited)

(1) Share-based compensation:

Cost of revenues

$             154

$            531

Research and development costs, net

498

1,202

Sales and marketing

443

1,037

General and administrative

265

698

$          1,360

$          3,468

 (2) Amortization of intangible assets 

Cost of revenues

$             152

$            193

$             152

$            193

 (3) Expenses related to M&A activities 

Financial income

$               –

$              14

$               –

$              14

 

 

TABLE  – 3

ALLOT LTD.

AND ITS SUBSIDIARIES

CONSOLIDATED  BALANCE  SHEETS

(U.S. dollars in thousands)

March 31,

December 31,

2024

2023

(Unaudited)

(Audited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$                  22,718

$              14,192

Restricted deposit

1,182

1,728

Short-term bank deposits

–

10,000

Available-for-sale marketable securities

28,657

28,853

Trade receivables, net  (net of allowance for credit

losses of $25,363 and $25,253 on March 31, 2024 and

December 31, 2023, respectively)

15,019

14,828

Other receivables and prepaid expenses

6,996

8,437

Inventories

11,707

11,874

Total current assets

86,279

89,912

NON-CURRENT ASSETS:

Severance pay fund

389

395

Restricted deposit

–

158

Operating lease right-of-use assets

2,505

3,057

Other assets 

1,091

704

Property and equipment, net

10,403

11,189

Intangible assets, net

763

915

Goodwill

31,833

31,833

Total non-current assets

46,984

48,251

Total assets

$                  133,263

$              138,163

LIABILITIES AND SHAREHOLDERS’

EQUITY

CURRENT LIABILITIES:

Trade payables

$                        709

$                     969

Deferred revenues

15,168

14,892

Short-term operating lease liabilities

1,494

1,453

Other payables and accrued expenses

18,075

22,094

Total current liabilities

35,446

39,408

LONG-TERM LIABILITIES:

Deferred revenues

8,531

7,437

Long-term operating lease liabilities

202

702

Accrued severance pay

1,016

1,080

Convertible debt

39,823

39,773

Total long-term liabilities

49,572

48,992

SHAREHOLDERS’ EQUITY

48,245

49,763

Total liabilities and shareholders’ equity

$                  133,263

$              138,163

 

 

TABLE  – 4

ALLOT LTD.

AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS 

(U.S. dollars in thousands)

Three Months Ended

March 31,

2024

2023

(Unaudited)

Cash flows from operating activities:

Net Loss

$        (2,510)

$    (11,362)

Adjustments to reconcile net income to net cash used in operating activities:

Depreciation

1,215

1,320

Stock-based compensation

1,360

3,468

Amortization of intangible assets

152

276

Increase (Decrease) in accrued severance pay, net

(58)

60

Decrease in other assets, other receivables and prepaid expenses

717

499

Decrease (Increase) in accrued interest and  amortization of premium/discount on marketable securities 

(372)

19

Decrease in operating leases liability

(459)

(1,105)

Decrease in operating lease right-of-use asset

552

722

Decrease (Increase) in trade receivables

(191)

4,486

Decrease (Increase) in inventories

167

(3,453)

Increase (Decrease) in trade payables

(262)

739

Decrease in employees and payroll accruals

(3,486)

(1,452)

Increase (Decrease) in deferred revenues

1,370

(2,169)

Decrease in other payables, accrued expenses and other long term liabilities

(554)

(901)

Amortization of issuance costs of Convertible debt

50

49

Net cash used in operating activities

(2,309)

(8,804)

Cash flows from investing activities:

Decrease in restricted deposit

704

–

Investment in short-term bank deposits

–

(15,900)

Withdrawal of short-term bank deposits

10,000

32,900

Purchase of property and equipment

(429)

(270)

Investment in marketable securities

(24,275)

(8,983)

Proceeds from redemption or sale of marketable securities

24,835

3,370

Net cash provided by investing activities

10,835

11,117

Cash flows from financing activities:

Proceeds from exercise of stock options

–

–

Issuance of convertible debt

–

–

Net cash provided by financing activities

–

–

Increase in cash and cash equivalents

8,526

2,313

Cash and cash equivalents at the beginning of the period

14,192

12,295

Cash and cash equivalents at the end of the period

$        22,718

$     14,608

 

 

 

Other financial metrics (Unaudited)

U.S. dollars in millions, except number of full time employees, top 10 customers as a

% of revenues and number of shares

Q1-2024

FY 2023

FY 2022

Revenues geographic breakdown

Americas

4.3

20 %

16.6

18 %

21.8

18 %

EMEA

12.5

57 %

56.1

60 %

71.2

58 %

Asia Pacific

5.1

23 %

20.5

22 %

29.7

24 %

21.9

100 %

93.2

100 %

122.7

100 %

Revenue breakdown by type

Products

7.4

34 %

37.6

40 %

61.1

50 %

Professional Services

3.0

14 %

6.1

7 %

11.6

9 %

SECaaS (Security as a Service)

3.4

16 %

10.6

11 %

7.2

6 %

Support & Maintenance

8.1

36 %

38.9

42 %

42.8

35 %

21.9

100 %

93.2

100 %

122.7

100 %

Revenues per customer type

CSP

17.3

79 %

75.1

81 %

98.3

80 %

Enterprise

4.6

21 %

18.1

19 %

24.4

20 %

21.9

100 %

93.2

100 %

122.7

100 %

Top 10 customers as a % of revenues

47 %

47 %

44 %

Total number of full time employees 

505

559

749

(end of period)

Non-GAAP Weighted average number of basic shares  (in

 millions)

38.4

37.9

37.0

Non-GAAP weighted average number of fully diluted

shares  (in millions)

42.1

40.3

39.5

SECaaS (Security as a Service) revenues– U.S. dollars in millions (Unaudited)

Q1-2024:

3.4

Q4-2023:

3.2

Q3-2023:

2.8

Q2-2023:

2.4

Q1-2023:

2.3

SECaaS ARR* (annualized recurring revenues)- U.S. dollars in millions (Unaudited)

Mar. 2024:

13.7

Dec. 2023:

12.7

Dec. 2022:

9.2

Dec. 2021:

5.2

*ARR: annualized recurring SECaaS revenues, calculated based on the monthly revenues multiplied by 12

 

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SOURCE Allot Ltd.

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Technology

HONGQI in 2024: Pioneering Innovation and Elevating the Future of Luxury Mobility

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9 minutes ago

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December 27, 2024

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CHANGCHUN, China, Dec. 27, 2024 /PRNewswire/ — 2024 has been a landmark year for HONGQI, as the brand made significant strides in the global luxury automotive market. With the unveiling of its flagship all-electric vehicles, groundbreaking technological innovations, and active participation in international events, HONGQI has strengthened its position as a key player in the evolving landscape of sustainable mobility.

The EH7 sedan and EHS7 SUV made a powerful impression this year at the prestigious Goodwood Festival of Speed, captivating audiences and earning widespread acclaim. Built on the advanced TianGong electric platform, the EH7 delivers a WLTP range of 655 km, while the EHS7 achieves 600 km. Both models feature ultra-fast charging technology, enabling the battery to charge from 10% to 80% in just 20 minutes. This innovation offers unparalleled convenience and efficiency, meeting the demands of modern electric mobility.

International reviews have praised these vehicles for their innovation and craftsmanship. The EHS7 has been highlighted as “tailored to meet European preferences, with high-quality engineering and abundant features.” Meanwhile, the EH7 has been lauded for its “impressive range, smooth handling, offering a balanced blend of luxury and practicality.” These evaluations reflect the growing recognition from global media and users of HONGQI’s ability to deliver sophisticated luxury vehicles that meet international standards.

HONGQI’s new vehicles, built on the revolutionary TianGong electric platform described as “a highly flexible pure electric platform capable of solving practical problems for users in cold areas” address the diverse needs of modern drivers while ensuring reliable performance in extreme conditions.

This year, HONGQI left a lasting impression at two major international motor shows. At Automechanika Frankfurt, the spotlight was on its flagship models, the EH7 and EHS7, which drew praise for their innovative design, remarkable range, and exceptional performance. Meanwhile, at the Paris Motor Show 2024, HONGQI showcased its groundbreaking TianGong electric platform, celebrated for its adaptability and advanced technology. HONGQI’s collaboration with SCABAL further demonstrated the seamless fusion of Chinese craftsmanship and European luxury aesthetics, reinforcing its dedication to innovation and artistry.

On its journey to becoming the “World’s New Luxury” automotive brand, HONGQI will continue to promote its vision of sustainability and innovation, gaining greater recognition through its commitment to quality. Looking ahead, HONGQI will focus on continuous improvement, enhancing its products and services to meet the evolving demands of the market. Over the next five years, HONGQI plans to launch 10 new models in Europe, expanding options in the global market and bringing fresh momentum to the development of the luxury mobility sector.

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MySize present year over year growth, 2025 targets $15M Revenue, Anticipates Strong 2024 Finish close to 100% Growth from 2022

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December 27, 2024

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Strong Revenue Growth, Strategic Market Expansion, M&A strategy and Cutting-Edge Technology Set the Stage for Continued Success

AIRPORT CITY, Israel, Dec. 27, 2024 /PRNewswire/ — MySize, Inc. (NASDAQ: MYSZ)

(“MySize” or the “Company”), a global leader in AI-driven sizing solutions and omnichannel e-commerce platforms, today shared its annual shareholder update. The update highlights robust revenue growth, strategic geographic expansion, transformative technological advancements, and plans to explore M&A opportunities within the Company’s core industries.

Delivering on Growth and Performance

MySize anticipates closing 2024 with $8.5 million in revenue, reflecting a 23% year-over-year growth. MySize believes that this momentum, fueled by advancements in technology and market expansion of Orgad, potentially positions the Company to achieve a projected $15 million in revenue by 2025 based on current market conditions. Moreover, the Company believes that it will be able to achieve further significant operational cost savings that will enhance a flexibility in cash flow management and provide the foundation for continued strategic investment and growth.

“Our preliminary financial results highlight Orgad’s pivotal role in driving our revenue growth. By optimizing operational efficiency and capitalizing on strategic market expansions, Orgad demonstrates its capacity to deliver strong performance while providing the flexibility needed to pursue ambitious targets,” said Ronen Luzon, Founder and CEO of MySize. “2024 has proven that our strategy is not just ambitious, but highly effective, and we believe that it lays the groundwork for sustainable growth.”

Expanding Geographic Reach

MySize’s e-commerce platform, Orgad, is undergoing a strategic shift from focusing primarily on North America to expanding operations across Europe.

This move follows the receipt of certification to become a supplier for a major European retailer. This milestone represents significant growth potential and has the potential to unlock new opportunities in one of the world’s largest retail markets. The Company believes this strategic expansion demonstrates Orgad’s ability to adapt and capitalize on emerging opportunities.

“We believe that Europe represents a significant opportunity for Orgad as we tap into new markets and strengthen relationships with global retail leaders,” Luzon added. “The certification as a supplier to a leading European retailer underscores our commitment to delivering excellence.”

Pioneering Innovation with Naiz Fit

The Company’s AI-driven sizing solution, Naiz Fit, continues to set industry benchmarks:

✅ Delivered over 42 million personalized size recommendations across 18+ countries, enabling customers to find their perfect fit.✅ Supported 1.5 million virtual try-ons, ensuring precision and enhancing consumer confidence.✅ Increased conversion rates by 5.7x, reducing friction in the purchasing journey.✅ Achieved a 14% reduction in return rates, driving cost savings and operational efficiency for retail partners.✅ Boosted average order value (AOV) by 27%, reinforcing the financial value of MySize’s solutions.✅ Improved consumer engagement by 15%, creating stronger connections between brands and their customers.

Interestingly, trousers emerged as the most frequently returned item, providing valuable insights that MySize leverages to refine its technology further and support its partners.

“Naiz Fit continues to solidify our position as a technological leader in the fashion and retail space,” Luzon remarked. “These results are a testament to the impact and effectiveness of our solutions.”

Looking Ahead

“As we reflect on 2024, I am proud of how far MySize has come,” Luzon concluded. Building on this momentum, MySize is gearing up for a strong presence at two key industry events in January 2025: CES in Las Vegas and NRF in New York. These events present unique opportunities to showcase our cutting-edge technologies and connect with global leaders in the retail and e-commerce industries.

Additionally, MySize is actively exploring mergers and acquisitions (M&A) to enhance growth opportunities and scale operations. By targeting companies aligned with its expertise in AI-driven sizing solutions, e-commerce platforms, and operational technologies, MySize aims to:

Expand Product Offerings: Enhance the range of technologies and solutions, providing clients with more robust and innovative tools.Accelerate Market Reach: Broaden geographic penetration, especially in untapped regions, and strengthen relationships in existing markets.Optimize Operational Synergies: Drive cost efficiencies and maximize profitability through integration with complementary businesses.

“Our approach to M&A is grounded in strategic alignment and long-term value creation,” Luzon emphasized. “By leveraging these opportunities, we aim to scale our business and unlock innovative pathways that support sustainable growth and deliver meaningful results for our shareholders.”

“We believe that our strategic expansion, cutting-edge technology, and commitment to innovation position us for an exciting future. Together, with our partners and investors, we aim to shape the future of fashion and e-commerce.”

About MySize, Inc.

MySize, Inc. (NASDAQ: MYSZ) is a global leader in omnichannel e-commerce platforms and AI-driven sizing solutions, including MySizeID and Naiz Fit. The Company’s solutions are designed to drive revenue growth, reduce operational costs, and enhance customer experiences for business clients worldwide.

We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and X (formerly known as Twitter).

For more information, visit www.mysizeid.com.

Estimated Preliminary Results for the Year Ending December 31, 2024 (Unaudited)

Set forth above are certain estimated preliminary financial results and other business metrics for the year ended December 31, 2024. These estimates are based on the information available to us at this time. Our actual results may differ materially from the estimated preliminary results presented due to the completion of our financial closing and accounting procedures, including final adjustments, the completion of the preparation and audit of the Company’s financial statements and the subsequent occurrence or identification of events prior to the filing of the audited consolidated financial statements for the fiscal year ending December 31, 2024, in the Company’s Annual Report on Form 10-K. The estimated preliminary financial results and other business metrics have not been audited or reviewed by our independent registered public accounting firm. These estimates should not be viewed as a substitute for our full interim or annual financial statements. Accordingly, you should not place undue reliance on this preliminary data. In addition, any such statements regarding the Company’s financial performance are not necessarily indicative of the Company’s financial performance that may be expected to occur for the fiscal year ending December 31, 2024, or for any future fiscal period.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to its strategic and business plans, technology, relationships, objectives, expectations for its business, growth, expected revenue guidance and potential merger and acquisition opportunities. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Investor Contacts

Or Kles, CFO
Email: ir@mysizeid.com

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View original content:https://www.prnewswire.com/news-releases/mysize-present-year-over-year-growth–2025-targets-15m-revenue–anticipates-strong-2024-finish-close-to-100-growth-from-2022-302339582.html

SOURCE My Size Inc.

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Technology

Pixie Dust Technologies Announces Debt Financing

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9 minutes ago

on

December 27, 2024

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NEW YORK and TOKYO, Dec. 27, 2024 /PRNewswire/ – Pixie Dust Technologies, Inc. (the “Company”), a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave control technology, today announced its new debt financing.

New debt financing
On December 27, 2024, Pixie Dust Technologies, Inc. (the “Company”) reached an agreement with Suzuyo Group Finance Co., Ltd. (the “Lender”) to obtain new debt financing (the “New Debt”) in the amount of 1.5 billion yen.

Below is an outline of terms and conditions of New Debt.

Loan Amount

1,500,000,000 yen

Use of funds

General working capital

Borrowing Date

December 27, 2024

Maturity Date

March 14, 2025

Principal Repayment Method

Pay in a lump sum on the Maturity Date

Interest Rate

1.03% per annum

Forward-Looking Statements
Certain statements contained in this press release are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “aim,” “objective,” “goal,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Any such forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control, including but not limited to the strength of the economy, changes to the market for securities, the effects of inflation and its associated impact on prevailing interest rates, political or financial instability, and other factors which are set forth in the Company’s prospectus that forms a part of the Registration Statement on Form F-1 (File No. 333-272476), as amended, and in all filings with the SEC made by the Company subsequent to the filing thereof (including, without limitation, the Company’s most recent annual report filed under cover of Form 20-F). The forward-looking statements included in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

View original content:https://www.prnewswire.com/news-releases/pixie-dust-technologies-announces-debt-financing-302339285.html

SOURCE Pixie Dust Technologies

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