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Newgen Software reports Revenues from operations at Rs 315 cr in Q1 FY’25, up 25% YoY

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Launch of Newgen LumYn — Gen AI powered hyper-personalization platform for banks

NOIDA, India, July 22, 2024 /PRNewswire/ — The management of Newgen Software Technologies Ltd. announced results for the quarter ended June 30, 2024 at its Board Meeting held on July 18, 2024.

Key Highlights- Q1 FY’25 v/s Q1 FY’24

Revenues
Rs  315 Cr
(25% YoY growth) 

Profit after Tax
Rs 48 Cr
(58% YoY growth)

New LogoWins
13

Commenting on the Company’s performance, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd., said, “As we start a new financial year, we are happy to close another robust performance quarter in terms of revenues and profits. The quarter registered 25% revenue growth, driven by strong business across all regions. We had good additions in our client portfolio and added 13 new logos in Q1. New business from our existing customer base also contributed significantly to our revenue growth, reaffirming our deep and long-term customer relationships and ability to deliver value to our customers.”

“Our solutions in trade, lending, and supply chain finance have been getting good traction and market acceptance, helping businesses grow and manage their operations more efficiently. During the quarter, we also launched our new product, named Newgen LumYn, a Gen AI-powered hyper-personalization platform designed specifically for the banking sector,” said Mr. Virender Jeet, CEO, Newgen Software.

Key Consolidated Financial Highlights (Q1 FY’25)

Revenue from operations (consolidated) witnessed a strong growth of 25% Q1 YoY, reaching Rs 315 crore as compared to Rs 252 crore in Q1 FY’24.

Annuity revenue streams (ATS/AMC, support, and cloud/SaaS and Subscription license) were at Rs 201 croresRevenue from the sale of products/license were at Rs 45 crores Revenue from Implementation and others were at Rs 68 crores

Profit after tax stood at Rs 48 crore during the quarter, up 58% YoY compared to Rs 30 crore in Q1 FY’24.

Key Business Highlights (Q1 FY’25)

13 new customer logo additions during the quarter.Newgen recognized in Gartner® Market Guide for State and Local Government Grant Management SolutionsCompany has been reaffirmed the short-term rating of CRISIL A1, for its debt instruments.  Launch of new product named Newgen LumYn — a Gen AI-powered hyper-personalization platform designed specifically for the banking sector

*https://newgensoft.com/company/press-releases/newgen-gartner-market-guide-state-local-government-grant-management/

About Newgen

Newgen is the leading provider of AI-enabled unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen’s industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries, Newgen unlocks simple with speed and agility.

For more details, visit www.newgensoft.com

Media Contact:

Investor Contact:

Runki Goswami

runki.goswami@newgensoft.com

Deepti Mehra Chugh

deepti.chugh@newgensoft.com

Disclaimer

This press release may contain certain forward-looking statements concerning Newgen Software Technologies’ future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth and new business opportunities, competition (both domestic and international), economic growth in India and the target countries for business, ability to attract and retain highly skilled professionals, time and cost over runs on projects, our ability to manage our international operations, government policies, interest and other fiscal costs generally prevailing in the economy. Past performance may not be indicative of future performance. The company does not undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.

Logo: https://mma.prnewswire.com/media/2106118/Newgen_Logo.jpg

 

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SOURCE Newgen Software Technologies Ltd.

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Stormstrike Inc. Relocates Headquarters to Las Vegas, Fabien Bonte Joins as CEO

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LAS VEGAS, Nov. 17, 2024 /PRNewswire/ — Stormstrike Inc., the pioneering digital media company known for its popular sports gaming platforms MUT.GG and FUT.GG, announced today that it is relocating its headquarters to Las Vegas, Nevada. In conjunction with this move, Stormstrike also welcomes its owner, Fabien Bonte, as the company’s new Chief Executive Officer. Daniel Paulson, who has served as the acting CEO, will continue his integral role at Stormstrike, stepping into the position of Chief Technology Officer.

The decision to move the company’s headquarters to Las Vegas marks an exciting new chapter for Stormstrike as it continues its rapid growth in the gaming media industry. The new headquarters in Las Vegas will strategically position the company within one of the fastest-growing business hubs in the United States, with access to a strong network of media, entertainment, and technology resources.

“I am thrilled to officially take on the role of CEO at Stormstrike and guide our incredible team into this next phase of growth,” said Fabien Bonte, Owner and CEO of Stormstrike Inc. “Our move to Las Vegas represents a unique opportunity to further connect with key industry players and expand our presence in the gaming media space. With Daniel Paulson as our CTO, I am confident we have the right leadership team in place to drive our vision forward.”

Fabien Bonte founded Stormstrike in 2021 after successfully selling his previous venture, Magic Find, Inc. The company’s properties, including flagship platforms MUT.GG and FUT.GG, have experienced rapid growth, reaching over 600 million page views in 2023, with projections of 900 million in 2024.

Daniel Paulson, who has been pivotal in leading Stormstrike as CEO, will transition to the role of Chief Technology Officer. In his new capacity, Paulson will continue to spearhead the company’s technology and product development initiatives, building on his extensive experience in the gaming industry to enhance the user experience on Stormstrike’s platforms.

“Stormstrike has come a long way since its founding, and I’m incredibly proud of what we’ve achieved so far,” Paulson said. “With Fabien now onboard as CEO, I’m excited to focus on our technological growth and deliver cutting-edge solutions that will keep our community engaged and drive further expansion.”

The company’s relocation to Las Vegas and its new leadership structure underscore Stormstrike’s commitment to growth and its focus on strengthening its position within the gaming and digital media sectors. As Stormstrike enters this new chapter, it remains dedicated to providing premium tools, resources, and community platforms for sports gaming enthusiasts around the world.

Contact Information:
Stormstrike Inc.
Email: business@stormstrike.gg

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SOURCE Stormstrike Inc.

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Sky Labs’ Wearable Device “Apollon” Recognized as an Honoree in CES 2025 Innovation Awards

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SEOUL, South Korea, Nov. 18, 2024 /PRNewswire/ — Sky Labs announced that its groundbreaking wearable device, Apollon, has been named an “Honoree” in the Artificial Intelligence category at the CES 2025 Innovation Awards. Hosted by the Consumer Technology Association (CTA)®, the CES Innovation Awards program annually recognizes outstanding achievements in design and engineering across 33 categories of consumer technology. This prestigious honor marks Sky Labs’ second award at CES, underscoring the company’s continued impact on health technology innovation.

Apollon is a pioneering wearable device designed for comprehensive monitoring of vital health indicators. Integrating both a wrist-worn module and a ring-type sensor, Apollon automatically and periodically measures SpO₂, irregular pulse, pulse rate, blood pressure, respiration rate, and skin temperature, while also offering on-demand body temperature measurements. Engineered with hospitalized patients in mind, Apollon supports extensive tracking of health data, providing valuable insights for health monitoring and treatment.

Apollon’s innovative design includes a wrist-worn control module with an integrated monitor and a detachable ring-type sensor module, connected seamlessly for optimal user experience. The wristband is crafted from silicone, promoting hygienic use and enabling secure attachment and removal from the control module. Additionally, the single-sized silicone ring around the sensor module provides comfort and adaptability, allowing users of varying finger sizes to wear the sensor comfortably for extended periods. The hardware is streamlined with power, charging, and data transmission connectors on a single surface, optimizing its structure for enhanced ease of use.

In parallel with Apollon’s success, Sky Labs’ CART BP pro, a ring-type ambulatory blood pressure monitoring device, has been selected as the primary monitoring tool for an ambitious five-year cohort study led by the Korean Society of Hypertension, in celebration of their 30th anniversary. This large-scale CUFFLESS BP Registry-Outcome Study will incorporate CART BP pro to further research into innovative hypertension management strategies. The study aims to evaluate a range of clinical outcomes associated with hypertension and to explore advanced, non-invasive solutions for blood pressure management.

About Sky Labs
Founded in September 2015, Sky Labs is a leading healthcare startup that has developed CART (Cardio Tracker), a ring-shaped medical device designed for disease monitoring using heart signals collected through optical sensors. Following this, the company developed CART BP, a cuffless, ring-shaped device that enables continuous 24-hour blood pressure monitoring, providing valuable treatment information and making a groundbreaking contribution to improving the quality of life for hypertension patients. Sky Labs has signed an exclusive domestic distribution agreement for CART BP with South Korea’s Daewoong Pharmaceutical and is preparing for nationwide sales to hospitals, clinics, and general consumers.

Media Inquiries
Edelman Korea SkyLabs@edelman.com

 

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SOURCE Sky Labs

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Salmon Named Leading Fintech Group Philippines at the World Business Outlook Awards 2024

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MANILA, Philippines, Nov. 18, 2024 /PRNewswire/ — Salmon, the fintech leader driving financial inclusion in Southeast Asia, has been recognized as the Leading Fintech Group Philippines at the esteemed World Business Outlook Awards 2024. This accolade highlights Salmon’s ongoing innovation and dedication to modernizing the financial services sector in the Philippines.

The World Business Outlook Awards celebrate excellence across global industries, with Salmon honored for its groundbreaking use of technology, particularly in addressing the needs of underserved communities. This recognition underscores Salmon’s significant contributions to enhancing financial access and empowering Filipinos.

Since its inception, Salmon has focused on bridging gaps in the Philippine financial ecosystem. By utilizing AI and cutting-edge technology, Salmon has enabled faster, more inclusive credit decisions, particularly benefiting Filipinos without formal credit histories. This approach has positioned the company as a major player in the fintech space, with strong potential to scale its impact across Southeast Asia in the near future.

Salmon’s flagship product, the Salmon App, continues to redefine the customer experience by offering streamlined loan applications, financial management, and payment solutions. With a consistent 4.7-star rating, the app exemplifies Salmon’s mission to provide accessible and user-friendly financial tools.

Salmon Co-Founder Pavel Fedorov reflected on the award: “Being named Leading Fintech Group Philippines 2024 fuels our commitment to making modern financial services accessible to everyone. This recognition highlights the impact we’ve made so far and strengthens our resolve to expand our services throughout Southeast Asia.”

Salmon’s recent oversubscribed $30M USD funding round further reinforces investor confidence in its growth strategy. Raffy Montemayor, Chairman of Salmon’s Bank subsidiary, added, “This funding enables us to scale even faster and introduce more products that bridge the gap between traditional banking and fintech, empowering more Filipinos in their financial journey.”

With its focus on financial inclusion and technological innovation, Salmon is poised to play a pivotal role in shaping the future of financial services across the region.

About Salmon Group Ltd 

Founded in 2022 by fintech and banking veterans Pavel Fedorov, George Chesakov, and Raffy Montemayor, Salmon Group Ltd owns and operates subsidiaries in the Philippines, including Sunprime Finance Inc. and the Rural Bank of Sta. Rosa (Laguna), Inc., which was established in 1963. The Group is dedicated to expanding financial inclusion by providing customers with cutting-edge, customer-centric, AI, and data-driven banking and financial services. It is on a mission to empower clients underserved by legacy banks across Southeast Asia and is supported by world-class shareholders, including the International Finance Corporation, the sovereign wealth fund of Abu Dhabi (ADQ), and other blue-chip international and Filipino investors. 

For media inquiries, please contact:  
Salmon Communications Team
Email: pr@salmon.group
Website: www.salmon.ph

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SOURCE Salmon Group Ltd

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