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Northern Data Group releases audited 2023 Financial Results

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Group 2023 revenue was EUR77.5 million, above market forecastFoundation laid for Northern Data Group’s continued transformation into a leading High-Performance Computing solutions providerInvesting substantially to increase revenue in 2024, with an anticipated range of EUR200EUR240 million and growing to EUR520EUR570 million in 2025

FRANKFURT, Germany, July 12, 2024 /PRNewswire/ — Northern Data AG (ETR: NB2) (“Northern Data Group” or “the Group”), a leading provider of High-Performance Computing (HPC) solutions, today announces its audited 2023 financial results, following the publication of its 2023 Annual Report. The financial statements have been audited by Liebhart & Kollegen in conjunction with Harris & Trotter, a firm that specializes in working with companies in the digital asset space, and have been issued with an unqualified audit opinion from Liebhart & Kollegen.

Northern Data Group achieved revenue of EUR77.5 million, above market guidance of EUR65 million to EUR75 million. Adjusted EBITDA was in line with expectations at EUR-5.5 million, following significant investment in the teams and structure required to realize the potential of HPC applications.

During 2023, the Group secured USD1billion in debt and equity funding to meet the growing demand for HPC and the Generative AI boom.

Building strong foundations for a successful 2024

Following the Group’s announcement of its investment strategy in late 2023, 2024 is set to be a year of significant development – with the aim of firmly positioning the Group as a leading HPC solutions provider to meet growing demand for HPC and the Generative AI boom.

Northern Data Group has announced the following significant investments in 2024:

–      Cloud – EUR730 million investment to secure the largest cluster of NVIDIA H100 Tensor Core GPUs in Europe.
–      Data Centers – EUR110 million investment to grow its physical and operational data center footprint across the U.S. and Europe.
–      Mining – EUR140 million investment into Peak Mining, which is already being deployed into next-generation mining hardware and facilities. 

Northern Data Group is expecting revenue in 2024 in the range of EUR200 millionEUR240 million – tripling 2023’s revenue and supporting the Group’s expectations of revenues of EUR520 million to EUR570 million in full-year 2025. Adjusted EBITDA for 2024 is expected to be in the range of EUR50 millionEUR80 million.

Aroosh Thillainathan, Founder and CEO, Northern Data Group, commented:

“2023 was an inflection point for Northern Data Group. We firmly positioned ourselves to become a leader in HPC, building the much-needed team and structure required to power growing demand for HPC and the Generative AI boom.

In 2024 we are investing strategically across our business to build the foundation required to provide cutting-edge organizations with HPC solutions that optimize performance. And we continue to build on and expand our strategic partnerships. We are well capitalized with significant cash on hand, and we expect to triple our revenues this year as we continue to scale.”

2023 results at a glance

2023

2022

Revenues

EUR million

77.5

193.3

Total output

EUR million

111.0

249.5

EBITDA

EUR million

-28.2

-58.1

Adjusted EBITDA1

EUR million

-5.5

42.4

EBIT

EUR million

-153.2

-265.4

Adjusted EBIT

EUR million

-130.4

-59.1

Net result

EUR million

-151.1

-265.8

Cash flow from operating activities

EUR million

-17.6

1.0

Cash flow from investing activities

EUR million

-84.7

-95.2

Cash flow from financing activities

EUR million

305.1

-82.9

Shares outstanding (undiluted)

Thousand units

28,941

23,816

Shares outstanding (diluted)

Thousand units

28,941

23,816

Earnings per share (undiluted)

EUR

-5.22

-11.16

Earnings per share (diluted)

EUR

-5.22

-11.16

Employees (annual average)

 

FTE

144

209

Dec. 31, 2023

Dec. 31, 2022

Cash and cash equivalents

EUR million

243.0

39.9

The complete 2023 Annual Report can be found at Northern Data’s website under: https://lp.northerndata.de/hubfs/Investor%20Relations/Financial%20Reports/NDG_Annual_Report_2023_EN.pdf

1) Adjusted EBITDA corresponds to EBITDA adjusted for non-cash and non-recurring items, which currently include (i) stock option plan expenses, (ii) lawsuits and other one-off legal fees, (iii) systems implementation, (iv) trading losses/gains from cryptocurrency, (v) restructuring costs and (vi) impairment losses related to third party bankruptcy and (vii) investment banking fees.

About Northern Data Group:
Northern Data Group (ETR: NB2) is a leading provider of High-Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business divisions: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.

Disclaimer:
This IR release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.

View original content:https://www.prnewswire.co.uk/news-releases/northern-data-group-releases-audited-2023-financial-results-302195706.html

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Inner City Visions releases a 24-hour virtual support center to combat Human Trafficking

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Inner City Visions offers 24-hour virtual support services through ‘Angelito’, an app to ensure at-risk children and families safety from human trafficking. Inner City Visions (ICV) is a 501(c)(3) non-profit organization founded in 2007 in the epicenter of South Los Angeles. They engage what is statistically the most vulnerable population of at-risk and exploited youth and provide solutions to their ever-evolving hardships. Combatting human trafficking

LOS ANGELES, Jan. 8, 2025 /PRNewswire-PRWeb/ — Inner City Visions offers 24-hour virtual support services through ‘Angelito’, an app to ensure at-risk children and families safety from human trafficking

Robert Rodriguez Co-Creator of Angilito App. “Sex Trafficking happens 24 hours a day. We need a tool that works 24 hours a day.”

Alfred Lomas, founder and Executive Director of Inner City Visions (ICV), and his team take the next step in expanding their initiatives through the creation of ‘Angelito’, an app that aims to prevent the exploitation of families and sex trafficking of at-risk children.

The community-based organization has created promising results of harm reduction at the epicenter of South Los Angeles and continues to operate and make societal improvements within that community. ICV’s anti-trafficking efforts have resulted in an 85% success rate based on a one-year programming retention process outcome (2017).

The organization’s work continues to expand as they propose a new, virtual outlet in support of victims facing risks of exploitation and sex trafficking.

‘Angelito’ aims to establish a safe space away from violence by using Artificial Intelligence (AI) for strategic assistance and to prevent harm ideation. The app serves as an easily accessible, virtual lifeline that provides 24-hour support for victims and trafficking survivors in order to reduce the high recidivism rates as a result of the existing gaps in other services. It consists of emergency response and critical care support, connectivity for high-risk trafficking survivors to essential services, algorithms supported to prevent harm ideation, data recovery for strategic interventions and prevention efforts and more.

‘Angelito’ is engineered to appear as a gaming app at first glance as a way to protect users from pimps and controllers. This hidden feature functions as a safety measure that will less likely draw a perpetrator’s attention, allowing a client to use it without the fear of getting caught.

The app highlights ICV’s unique ability to engage and connect with Commercial Sexual Exploitation of Children and Youth (CSECY). ICV aims to have ‘Angelito’ be available for installation through Apple IOS and Android applications and is set to be released in the fall of 2025.

Written by: Odessa Hairapetian

odessacelestt@gmail.com

(626) 223-0840

Media Contact

Inner City Visions

Email: info@innercityvisions.com

Phone: 323.484.0004

Media Contact

Cynthia Dinh, Inner City Vision, 1 323-484-0004, icvinfo@icvcommunity.org, https://innercityvisions.org/

View original content to download multimedia:https://www.prweb.com/releases/inner-city-visions-releases-a-24-hour-virtual-support-center-to-combat-human-trafficking-302345497.html

SOURCE Inner City Vision

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Schools Can Engage Families More Effectively and Improve Enrollment Through Strategic Technology Use, Says Info-Tech Research Group

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With increasing competition in K-12 Education to attract and retain students, a recently published blueprint from Info-Tech Research Group will provide schools with a clear path to optimising enrollment management. By focusing on key areas such as improving operational efficiency, reducing administrative workload, and enhancing family engagement, the global research and advisory firm’s new resource is set to equip schools with the tools needed to streamline processes and make informed decisions when it comes to leveraging the power of emerging technologies. With data-driven insights and practical strategies, IT leaders in schools can select the right enrollment system, ensuring long-term success and a better overall experience for students and families.

SYDNEY, Jan. 9, 2025 /PRNewswire/ — The K-12 educational sector is facing increasing competition as schools seek to attract and retain students while managing complex administrative tasks. Enrollment management systems play a critical role in addressing these challenges, yet schools often struggle to evaluate and implement the solution that best fits their unique needs.

Info-Tech Research Group released its latest blueprint, Optimise Enrollment Management for K-12 Education, to equip school IT leaders with the guidance they need to seamlessly integrate modern technology, enhance operational efficiency, and strengthen family engagement, ultimately optimising enrollment strategies for sustained success.

‘The educational sector is rapidly transforming as schools and districts invest in technology to enhance their enrollment processes,’ says Mark Maby, principal research director at Info-Tech Research Group. ‘Enrollment management systems offer comprehensive tools to simplify various aspects of the enrollment process, including application management, automated workflows, centralised data management, personalised communication, and document review.’

Info-Tech’s data-backed resource highlights common challenges schools and their districts encounter when evaluating and selecting an enrollment management system. Many institutions fail to fully recognise the long-term value these systems can provide, resulting in missed opportunities to enhance operational efficiency and improve the student and family experience. The process of selecting the right vendor adds another layer of complexity, as schools must carefully weigh features, costs, and scalability in their decision-making process.

‘Automated workflows manage tasks such as lotteries and wait lists, while centralised data management ensures secure and accessible student information,’ explains Maby. ‘Cloud-based solutions provide scalability and accessibility, allowing administrators to manage processes from any location.’

To ensure schools are equipped to overcome these challenges, the firm recommends a proactive approach that includes evaluating system scalability, automating processes, and aligning enrollment goals with broader institutional objectives. By assessing specific capabilities and future needs, schools can select enrollment management systems that offer both immediate and long-term benefits, ensuring smooth operations and a positive experience for students and their families.

Key Benefits of Effective Enrollment Management:

In the Optimise Enrollment Management for K-12 Education blueprint, Info-Tech highlights the following three key advantages of effective enrollment management that can significantly transform operations for educational institutions:

Improved Efficiency: Automating enrollment processes reduces administrative burdens while centralised data management ensures that all relevant information is secure and accessible from a single location. This approach results in streamlined communications and the elimination of redundant tasks, helping schools operate more smoothly while saving time and resources.

Enhanced Family Engagement: A user-friendly interface, automated notifications, and personalised communication options all culminate in an advantage that fosters stronger connections with families, ensuring they are informed and involved throughout the enrollment journey. This approach also promotes equitable access to essential resources, ensuring that families have all the information they need at their fingertips.

Data-Driven Decision-Making: Schools can leverage advanced reporting and analytics tools to monitor and gain actionable insights into enrollment trends, performance metrics, and areas for improvement. This data-driven approach enables better decision-making, allowing institutions to track and monitor progress effectively and adjust strategies as needed.

By leveraging Info-Tech’s comprehensive blueprint, schools and their districts can make well-informed decisions about selecting and implementing an enrollment management system tailored to their unique needs. With a focus on increasing operational efficiency, cost-effectiveness, and long-term growth, this guide will equip school IT leaders with the necessary tools to enhance their enrollment strategies and create a more streamlined and engaging experience for students and families.

For exclusive and timely commentary from Mark Maby, an expert in the educational sector, and access to the complete Optimise Enrollment Management for K-12 Education blueprint, please contact pr@infotech.com.

About Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organisations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software buying insights.

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.

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Media Contact: Sufyan Al-Hassan, Senior PR Manager, Info-Tech Research Group, salhassan@infotech.com | +1 (888) 670-8889 x2418

View original content:https://www.prnewswire.com/apac/news-releases/schools-can-engage-families-more-effectively-and-improve-enrollment-through-strategic-technology-use-says-info-tech-research-group-302346484.html

SOURCE Info-Tech Research Group

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AllenComm Recognized as a Top Content Provider for Leadership Development 2025 by eLearning Industry

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AllenComm — a leading provider of innovative, effective learning experiences — is named by eLearning Industry as one of the Top Content Providers for Leadership Development for 2025, earning a five-star rating.

SALT LAKE CITY, Jan. 8, 2025 /PRNewswire/ — The award-winning team at AllenComm, an innovator in learning advisory, design, tech and talent for the corporate learning and development market, has earned recognition and a five-star rating as a leading provider of leadership development services.

The list of top leadership development content providers named by eLearning Industry serves as an industry resource, directory and source of credible learning and development (L&D) information for organizations seeking expert-level support for their L&D programs.

In their announcement of the award, eLearning Industry noted: “It’s vital that you best equip new leaders with a secure footing as they begin their careers in management. … All the content providers on this top list can develop your top talents and core leadership skills with their courses and strategies. Besides, with their help, you can also improve employee retention and engagement, foster positive work relationships and encourage continuous professional growth within your teams.”

Ron Zamir, AllenComm President and CEO, commented, “Targeted leadership development — focused on the organization’s most critical needs — has always been a focus and passion for our team. Today, our toolkit is more flexible and effective than ever before, allowing us to inspire leadership at every level of the organization.”

You can learn more about AllenComm’s leadership development services by visiting their website.

If you would like to know more about any of the above information, please contact an AllenComm representative at info@allencomm.com.

About AllenComm  
For over 40 years, AllenComm has partnered with leading companies and nonprofit organizations to create and scale transformative learning solutions. Extensive instructional design experience, innovative learning technologies and agency-level creative teams enable AllenComm to stand out in the learning landscape. Considered one of the top firms of its kind in the country, AllenComm wins dozens of awards year after year for their solutions. Partnering with AllenComm to supplement and support human capital management needs has helped customers reduce expenses, shorten onboarding periods and raise the impact of their efforts.

View original content:https://www.prnewswire.com/news-releases/allencomm-recognized-as-a-top-content-provider-for-leadership-development-2025-by-elearning-industry-302346485.html

SOURCE AllenComm

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