Technology
ePlus Reports First Quarter Fiscal Year 2025 Financial Results
Published
5 months agoon
By
First Quarter Fiscal Year 2025
Net sales decreased 5.2% to $544.5 million from last year’s first quarter; technology business net sales decreased 5.3% to $535.5 million; services revenues increased 15.8% to $78.2 million.Technology business gross billings decreased 1.0% to $833.7 million.Consolidated gross profit decreased 5.5% to $134.5 million.Consolidated gross margin was 24.7% as compared to last year’s 24.8%.Net earnings decreased 19.2% to $27.3 million.Adjusted EBITDA decreased 19.9% to $43.1 million.Diluted net earnings per common share decreased 19.7% to $1.02 and non-GAAP diluted net earnings per common share decreased 19.9% to $1.13.
HERNDON, Va., Aug. 6, 2024 /PRNewswire/ — ePlus inc. (NASDAQ: PLUS), a leading provider of technology and financing solutions, today announced financial results for the three months ended June 30, 2024, the first quarter of its 2025 fiscal year.
Management Comment
“We continued to see strong growth in security and services overall with our managed services up 28%. For many years we have been building strong services and recurring revenue streams, in part to offset headwinds created by the increase in netted down revenues and ratable recognition of sales, both to build a more consistent financial model, but also to deliver the solutions that customers demand with today’s advanced technologies,” said Mark Marron, president and CEO of ePlus. We are seeing strong customer interest in our AI Ignite program and discovery services. While these create nominal current revenue, they also are key to locking in future business opportunities and securing customer mindshare in this fast moving technology solution.
“Given a hard compare, with last year’s first quarter growth of 25% due to supply chain easing, our first quarter net sales were down 5.2% and gross billings were down 1%. Both the revenue and gross billings decline year over year is attributable to a more normalized supply chain, the absorption of prior purchases by our customers, product mix, and the ratable trend as noted above. We do not see any long-term diminished demand for our products and services and our full year guidance remains unchanged.”
Mr. Marron continued, “We ended the quarter with a strong cash position of $350 million, providing ePlus the resources to invest in organic growth initiatives, continue our track record of strategic acquisitions, and increase shareholder returns through share repurchases.”
First Quarter Fiscal Year 2025 Results
For the first quarter ended June 30, 2024, as compared to the first quarter ended June 30, 2023:
Consolidated net sales decreased 5.2% to $544.5 million, from $574.2 million.
Technology business net sales decreased 5.3% to $535.5 million, from $565.7 million driven by lower product sales. Technology business gross billings decreased 1.0% to $833.7 million from $842.0 million.
Product sales decreased 8.2% to $457.3 million, from $498.2 million, due to decreases in net sales of cloud and networking products, offset by increases in net sales of collaboration and security products. Gross profit decreased 11.6% to $98.5 million, from $111.4 million last year, due to the reduction of product sales and a 90-bps decline in product margin to 21.5% from 22.4% last year, due to a shift in customer mix, offset by a larger proportion of third-party maintenance and services sold in the current quarter which are recorded on a net basis.
Professional service revenues increased 4.8% from last year to $37.3 million from $35.6 million. Gross profit increased 5.0% and gross margins increased 10 bps to 41.5% from 41.4% last year.
Managed service revenues increased 28.0% to $40.9 million due to ongoing demand in these offerings, including Enhanced Maintenance Support, Cloud, and Service Desk services. Gross profit increased 31.0% from last year due to the scaled growth in these services resulting in a 70-bps gross margin improvement.
Financing business segment net sales increased 6.4% to $9.0 million, from $8.5 million due to increases in portfolio earnings. Gross profit in the financing business segment increased 20.8% to $7.7 million from $6.4 million last year.
Consolidated gross profit decreased 5.5% to $134.5 million, from $142.3 million. Consolidated gross margin was 24.7%, down 10 bps from last year’s 24.8%, due to lower product margin in our technology business.
Consolidated operating expenses were $99.0 million, up 3.2% from $95.9 million last year, primarily due to increases in salaries and benefits from additional headcount. Our headcount at the end of the quarter was 1,907, up 54 from a year ago, including 28 employees from PEAK Resources, Inc. (“PEAK”) which we acquired in January 2024.
Consolidated operating income decreased 23.4% to $35.5 million. During the quarter ended June 30, 2024, we had other income of $2.1 million from interest income of $2.6 million offset by foreign currency transaction loss of $0.5 million. Earnings before tax decreased 19.3% to $37.5 million.
Our effective tax rate remained at 27.2% year over year.
Net earnings decreased 19.2% to $27.3 million from $33.8 million.
Consolidated adjusted EBITDA decreased 19.9% to $43.1 million from $53.9 million.
Diluted net earnings per common share was $1.02 for the first quarter ended June 30, 2024, compared with $1.27 for the first quarter ended June 30, 2023. Non-GAAP diluted net earnings per common share was $1.13 for the first quarter ended June 30, 2024, compared with $1.41 for the first quarter ended June 30, 2023.
Balance Sheet Highlights
As of June 30, 2024, cash and cash equivalents were $349.9 million, up from $253.0 million as of March 31, 2024, primarily due to improvements in working capital, offset by repurchases of our common stock. Inventory decreased 36.2% to $89.1 million compared with $139.7 million as of March 31, 2024. Total stockholders’ equity was $921.9 million, compared with $901.8 million as of March 31, 2024. Total shares outstanding were 26.9 million and 27.0 million on June 30, 2024 and March 31, 2024, respectively.
Fiscal Year Guidance
ePlus is maintaining fiscal year 2025 guidance for net sales growth over the prior fiscal year of between 3% and 6%, and an adjusted EBITDA range of $200.0 million to $215.0 million. ePlus cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of unusual gains and losses, the occurrence of matters creating GAAP tax impacts, fluctuations in interest expense or interest income and share-based compensation, and acquisition-related expenses. These items are uncertain, depend on various factors, and could be material to the ePlus’ results computed in accordance with GAAP. Accordingly, the ePlus is unable to provide a reconciliation of GAAP net earnings to adjusted EBITDA for the full year 2025 forecast.
Summary and Outlook
“Looking ahead, as we add new products and services and benefit from recent acquisitions, ePlus continues to be positioned to achieve top-line growth. Our business is supported by deep customer and channel relationships. We have invested across the organization to strengthen our product and services offerings and to customize our solutions to meet the evolving needs of our customers. Our teams continue to execute well and operate efficiently with an unwavering commitment to superior customer service. These factors support our confidence in the underlying fundamentals of our business and our ability to deliver on our 2025 financial outlook and objectives.
“Additionally, our strong financial position provides us with considerable capital allocation options to drive long-term shareholder value, including the ability to expand our product offerings, make larger accretive acquisitions, and continue to return capital to shareholders through share repurchases. This flexibility, together with ongoing investments in differentiated capabilities, should enable us to build on our competitive advantage and advance our market positioning,” concluded Mr. Marron.
Recent Corporate Developments/Recognitions
In the month of July:
Announced Storage-as-a-Service leveraging NetApp.IGXGlobal, a subsidiary of ePlus, began offering Storage-as-a-Service powered by Pure Storage.
In the month of June:
Awarded the Lenovo U.S. Infrastructure Solutions Partner of the Year Award.Announced the launch of Azure Recover.Recognized as Juniper Networks 2023 Partner of the Year for Cloud Ready Data Center in both Worldwide and Americas Categories.
In the month of May:
Named Growth Partner of the Year by Varonis.Earned a spot on CRN’s 2024 Solution Provider 500 List.
Conference Call Information
ePlus will hold a conference call and webcast at 4:30 p.m. ET on August 6, 2024:
Date:
August 6, 2024
Time:
4:30 p.m. ET
Audio Webcast (Live & Replay):
https://events.q4inc.com/attendee/653117486
Live Call:
(888) 596-4144 (toll-free/domestic)
(646) 968-2525 (international)
Archived Call:
(800) 770-2030 (toll-free/domestic)
(609) 800-9909 (international)
Conference ID:
6593768# (live call and replay)
A replay of the call will be available approximately two hours after the call through August 13, 2024. A transcript of the call will also be available on the ePlus Investor Relations website at https://www.eplus.com/investors.
About ePlus inc.
ePlus has an unwavering and relentless focus on leveraging technology to create inspired and transformative business outcomes for its customers. Offering a robust portfolio of solutions, as well as a broad range of consultative and managed services across the technology spectrum, ePlus has proudly achieved more than 30 years of success, carrying customers forward through adversity, rapidly changing environments, and other obstacles. ePlus is a trusted advisor, bringing expertise, credentials, talent and a thorough understanding of innovative technologies, spanning security, cloud, data center, networking, collaboration and emerging solutions, to organizations across all industry segments. With complete lifecycle management services and flexible payment solutions, ePlus’ more than 1,900 associates are focused on cultivating positive customer experiences and are dedicated to their craft, harnessing new knowledge while applying decades of proven experience. ePlus is headquartered in Virginia, with locations in the United States, UK, Europe, and Asia‐Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on LinkedIn, X, Facebook, and Instagram. ePlus, Where Technology Means More.
ePlus® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners.
Forward-looking statements
Statements in this press release that are not historical facts may be deemed to be “forward-looking statements,” including, among other things, statements regarding the future financial performance of ePlus. Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, exposure to fluctuation in foreign currency rates, interest rates, and inflation, including as a result of national and international political instability fostering uncertainty and volatility in the global economy, which may cause increases in our costs and our ability to increase prices to our customers, negative impacts to the arrangements that have pricing commitments over the term of the agreement, which may result in adverse changes in our gross profit; significant adverse changes in, reductions in, or loss of one or more of our larger volume customers or vendors; reliance on third-parties to perform some of our service obligations to our customers, and the reliance on a small number of key vendors in our supply chain with whom we do not have long-term supply agreements, guaranteed price agreements, or assurance of stock availability; our ability to remain secure during a cybersecurity attack or other IT outtage, including both disruptions in our or our vendors’ or other third party’s Information Technology (“IT”) systems and data and audio communication networks; our ability to secure our own and our customers’ electronic and other confidential information, while maintaining compliance with evolving data privacy and regulatory laws and regulations; ongoing remote work trends, and the increase in cybersecurity attacks that have occurred while employees work remotely and our ability to adequately train our personnel to prevent a cyber event; the possibility of a reduction of vendor incentives provided to us; our dependence on key personnel and our ability to hire, train and retain qualified personnel by recruiting and retaining highly skilled, competent personnel, and vendor certifications; our ability to manage a diverse product set of solutions, including artificial intelligence (“AI”) products, in highly competitive markets with a number of key vendors; changes in the IT industry and/or rapid changes in product offerings, including the proliferation of the cloud, infrastructure as a service, software as a service, platform as a service and AI; supply chain issues, including a shortage of IT products, may increase our costs or cause a delay in fulfilling customer orders, or increase our need for working capital, or delay completing professional services, or purchasing IT products or services needed to support our internal infrastructure or operations, resulting in an adverse impact on our financial results; our inability to identify acquisition candidates, or perform sufficient due diligence prior to completing an acquisition, or failure to integrate a completed acquisition may affect our earnings; our ability to raise capital, maintain or increase as needed our lines of credit with vendors or floor planning facility, obtain debt for our financing transactions, or the effect of those changes on our common stock price; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration, and other key strategies; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.
ePlus inc. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
June 30, 2024
March 31, 2024
ASSETS
Current assets:
Cash and cash equivalents
$349,909
$253,021
Accounts receivable—trade, net
577,019
644,616
Accounts receivable—other, net
54,987
46,884
Inventories
89,134
139,690
Financing receivables—net, current
109,119
102,600
Deferred costs
59,985
59,449
Other current assets
23,951
27,269
Total current assets
1,264,104
1,273,529
Financing receivables and operating leases—net
85,032
79,435
Deferred tax asset
5,620
5,620
Property, equipment and other assets
94,417
89,289
Goodwill
161,508
161,503
Other intangible assets—net
40,292
44,093
TOTAL ASSETS
$1,650,973
$1,653,469
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Current liabilities:
Accounts payable
$270,614
$315,676
Accounts payable—floor plan
119,511
105,104
Salaries and commissions payable
40,491
43,696
Deferred revenue
138,619
134,596
Non-recourse notes payable—current
29,898
23,288
Other current liabilities
29,103
34,630
Total current liabilities
628,236
656,990
Non-recourse notes payable—long-term
10,854
12,901
Other liabilities
89,955
81,799
TOTAL LIABILITIES
729,045
751,690
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 per share par value; 2,000 shares
authorized; none outstanding
–
–
Common stock, $0.01 per share par value; 50,000 shares
authorized; 26,940 outstanding at June 30, 2024 and
26,952 outstanding at March 31, 2024
276
274
Additional paid-in capital
184,733
180,058
Treasury stock, at cost, 609 shares at June 30, 2024 and
447 shares at March 31, 2024
(35,746)
(23,811)
Retained earnings
770,317
742,978
Accumulated other comprehensive income—foreign currency
translation adjustment
2,348
2,280
Total Stockholders’ Equity
921,928
901,779
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$1,650,973
$1,653,469
ePlus inc. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Three Months Ended June 30,
2024
2023
Net sales
Product
$466,349
$506,656
Services
78,189
67,519
Total
544,538
574,175
Cost of sales
Product
360,157
388,904
Services
49,900
42,998
Total
410,057
431,902
Gross profit
134,481
142,273
Selling, general, and administrative
93,608
90,298
Depreciation and amortization
4,819
4,792
Interest and financing costs
585
851
Operating expenses
99,012
95,941
Operating income
35,469
46,332
Other income (expense), net
2,073
190
Earnings before taxes
37,542
46,522
Provision for income taxes
10,203
12,675
Net earnings
$27,339
$33,847
Net earnings per common share—basic
$1.03
$1.27
Net earnings per common share—diluted
$1.02
$1.27
Weighted average common shares outstanding—basic
26,642
26,552
Weighted average common shares outstanding—diluted
26,801
26,648
Technology Business
Three Months Ended June 30,
2024
2023
Change
(in thousands)
Net sales
Product
$457,312
$498,166
(8.2 %)
Professional services
37,279
35,556
4.8 %
Managed services
40,910
31,963
28.0 %
Total
535,501
565,685
(5.3 %)
Gross profit
Product
98,505
111,391
(11.6 %)
Professional services
15,455
14,724
5.0 %
Managed services
12,834
9,797
31.0 %
Total
126,794
135,912
(6.7 %)
Selling, general, and administrative
90,084
87,100
3.4 %
Depreciation and amortization
4,819
4,764
1.2 %
Interest and financing costs
–
550
(100.0 %)
Operating expenses
94,903
92,414
2.7 %
Operating income
$31,891
$43,498
(26.7 %)
Gross billings
$833,708
$841,970
(1.0 %)
Adjusted EBITDA
$39,501
$50,949
(22.5 %)
Technology Business Gross Billings by Type
Three Months Ended June 30,
2024
2023
Change
(in thousands)
Networking
$281,528
$276,645
1.8 %
Cloud
241,274
258,924
(6.8 %)
Security
151,883
147,343
3.1 %
Collaboration
32,976
22,161
48.8 %
Other
44,592
69,761
(36.1 %)
Product gross billings
752,253
774,834
(2.9 %)
Service gross billings
81,455
67,136
21.3 %
Total gross billings
$833,708
$ 841,970
(1.0 %)
Technology Business Net Sales by Type
Three Months Ended June 30,
2024
2023
Change
(in thousands)
Networking
$234,740
$245,188
(4.3 %)
Cloud
137,231
172,044
(20.2 %)
Security
48,005
45,796
4.8 %
Collaboration
20,899
12,956
61.3 %
Other
16,437
22,182
(25.9 %)
Total product
457,312
498,166
(8.2 %)
Professional services
37,279
35,556
4.8 %
Managed services
40,910
31,963
28.0 %
Total net sales
$535,501
$ 565,685
(5.3 %)
Technology Business Net Sales by Customer End Market
Three Months Ended June 30,
2024
2023
Change
(in thousands)
Telecom, Media, & Entertainment
$117,553
$ 141,335
(16.8 %)
Technology
109,106
73,403
48.6 %
SLED
92,096
109,405
(15.8 %)
Healthcare
75,280
86,656
(13.1 %)
Financial Services
49,725
65,690
(24.3 %)
All other
91,741
89,196
2.9 %
Total net sales
$535,501
$ 565,685
(5.3 %)
Financing Business Segment
Three Months Ended June 30,
2024
2023
Change
(in thousands)
Portfolio earnings
$4,161
$3,073
35.4 %
Transactional gains
1,293
1,279
1.1 %
Post-contract earnings
3,315
3,634
(8.8 %)
Other
268
504
(46.8 %)
Net sales
9,037
8,490
6.4 %
Gross profit
7,687
6,361
20.8 %
Selling, general, and administrative
3,524
3,198
10.2 %
Depreciation and amortization
–
28
(100.0 %)
Interest and financing costs
585
301
94.4 %
Operating expenses
4,109
3,527
16.5 %
Operating income
$3,578
$2,834
26.3 %
Adjusted EBITDA
$3,642
$2,930
24.3 %
ePlus inc. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP INFORMATION
We included reconciliations below for the following non-GAAP financial measures: (i) Adjusted EBITDA, (ii) Adjusted EBITDA for business segments, (iii) non-GAAP Net Earnings and (iv) non-GAAP Net Earnings per Common Share – Diluted.
We define Adjusted EBITDA as net earnings calculated in accordance with US GAAP, adjusted for the following: interest expense, depreciation and amortization, share-based compensation, acquisition and integration expenses, provision for income taxes, and other income (expense). Adjusted EBITDA presented for the technology business segments and the financing business segment is defined as operating income calculated in accordance with US GAAP, adjusted for interest expense, share-based compensation, acquisition and integration expenses, and depreciation and amortization. We consider the interest on notes payable from our financing business segment and depreciation expense presented within cost of sales, which includes depreciation on assets financed as operating leases, to be operating expenses. As such, they are not included in the amounts added back to net earnings in the Adjusted EBITDA calculation.
Non-GAAP net earnings and non-GAAP net earnings per common share – diluted are based on net earnings calculated in accordance with GAAP, adjusted to exclude other income (expense), share based compensation, and acquisition related amortization expense, and the related tax effects.
We use the above non-GAAP financial measures as supplemental measures of our performance to gain insight into our operating performance and performance trends. We believe that such non-GAAP financial measures provide management and investors a useful measure for period-to-period comparisons of our business and operating results by excluding items that management believes are not reflective of our underlying operating performance. Accordingly, we believe that such non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results.
Our use of non-GAAP information as analytical tools has limitations, and you should not consider them in isolation or as substitutes for analysis of our financial results as reported under GAAP. In addition, other companies, including companies in our industry, might calculate adjusted EBITDA, non-GAAP net earnings and non-GAAP net earnings per common share or similarly titled measures differently, which may reduce their usefulness as comparative measures.
Three Months Ended June 30,
2024
2023
(in thousands)
Consolidated
Net earnings
$27,339
$33,847
Provision for income taxes
10,203
12,675
Depreciation and amortization [1]
4,819
4,792
Share based compensation
2,855
2,205
Interest and financing costs
–
550
Other expense, net [2]
(2,073)
(190)
Adjusted EBITDA
$43,143
$53,879
Technology Business Segment
Operating income
$31,891
$43,498
Depreciation and amortization [1]
4,819
4,764
Share based compensation
2,791
2,137
Interest and financing costs
–
550
Adjusted EBITDA
$39,501
$50,949
Financing Business Segment
Operating income
$3,578
$2,834
Depreciation and amortization [1]
–
28
Share based compensation
64
68
Adjusted EBITDA
$3,642
$2,930
Three Months Ended June 30,
2024
2023
(in thousands)
GAAP: Earnings before taxes
$37,542
$46,522
Share based compensation
2,855
2,205
Acquisition related amortization expense [3]
3,750
3,469
Other (income) expense [2]
(2,073)
(190)
Non-GAAP: Earnings before provision for income taxes
42,074
52,006
GAAP: Provision for income taxes
10,203
12,675
Share based compensation
799
607
Acquisition related amortization expense [3]
1,047
952
Other (income) expense, net [2]
(580)
(52)
Tax benefit (expense) on restricted stock
308
137
Non-GAAP: Provision for income taxes
11,777
14,319
Non-GAAP: Net earnings
$30,297
$37,687
Three Months Ended June 30,
2024
2023
GAAP: Net earnings per common share – diluted
$1.02
$1.27
Share based compensation
0.08
0.06
Acquisition related amortization expense [3]
0.10
0.09
Other (income) expense, net [2]
(0.06)
–
Tax benefit (expense) on restricted stock
(0.01)
(0.01)
Total non-GAAP adjustments – net of tax
0.11
0.14
Non-GAAP: Net earnings per common share – diluted
$1.13
$1.41
[1] Amount consists of depreciation and amortization for assets used internally.
[2] Legal settlement, interest income and foreign currency transaction gains and losses.
[3] Amount consists of amortization of intangible assets from acquired businesses.
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SOURCE EPLUS INC.
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PIXIE LEGENDS: The First Fairy-Themed Trading Card Game Brings Enchantment to Kids Everywhere
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January 4, 2025By
PIXIE LEGENDS: A magical fairy trading card game offering screen-free fun, imaginative play, and enchanting adventures for kids.
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✨ About PIXIE LEGENDS ✨
PIXIE LEGENDS was created by a team dedicated to enriching children’s play experiences. It provides a unique product that resonates with young girls who love fantasy, fairies, and adventure. With PIXIE LEGENDS, kids can collect, trade, and play in a world of imagination that celebrates creativity, connection, and magic.
For more information on PIXIE LEGENDS or to schedule an interview with the founder, please contact:
Neriad Hakak
CEO
Media Contact
Neriad Hakak, eCommerce and So, 1 9496681585, info@fairiesandbeyond.com, FairiesAndBeyond.com
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SOURCE PIXIE LEGENDS
World’s Most Powerful Tech Event Returns to Las Vegas January 7-10
ARLINGTON, Va., Jan. 4, 2025 /PRNewswire/ — CES® 2025, the world’s most powerful tech event, returns to Las Vegas, January 7-10, bringing together global companies, from top brands to innovative startups, industry executives, media, and government leaders.
“We’re ready to DIVE IN to CES 2025. There is great momentum heading into the show with a record 3400+ Innovation Award submissions, over 4500 exhibitors including roughly 1400 startups, and 1100 speakers for over 300 conference sessions,” said Gary Shapiro, CEO and Vice Chair, Consumer Technology Association (CTA)®, owner and producer of CES. “We are on track for an incredible show where attendees will see everything that is new in tech from the latest in AI and digital health to advanced mobility, smart communities, sustainability, and accessibility tech.”
DIVE IN to the CES 2025 Experience
CES App – Plan for and navigate CES 2025 with the official show app. Search “CES App” in your app store. New for CES 2025 is blue-dot navigation at the Las Vegas Convention Center (LVCC) and the Venetian.CES Tech Talk – Download and listen for the top trends expected at CES 2025.CES Creator Space, presented by Sony – A new space for storytellers – media and creators – to produce compelling content.
Top Trends
Artificial Intelligence: Generative AI is driving innovation. The entire AI ecosystem will be throughout CES, enhancing user experiences, increasing productivity, advancing health, and more.Exhibitor Examples: DeepX, EMD, LG, Lotte, Samsung, SiemensDigital Health: CES will showcase tech innovation across the entire spectrum of health, increasing longevity, lowering costs, and improving health equity and patient empowerment.Exhibitor Examples: AARP, EssilorLuxottica, Nuvilab, OnMed, Resmed, Variowell, WithingsEnergy Transition: Emerging technologies both drive and address the challenges of the energy transition. A new conference track on the energy transition will dive in to shaping a sustainable future while overcoming technical and scalability barriers.Exhibitor Examples: Eaton, Eneos, Hitachi, Qnovo, SK, WePower TechnologiesMobility: CES brings together the entire ecosystem of mobility—from passenger and autonomous cars to construction, agriculture, marine tech, and advanced air travel. The new stage in West Hall will showcase programming that envisions the future of mobility and explores how we can create a more sustainable and connected world.Exhibitor Examples: BMW, Brunswick, Caterpillar, Honda, John Deere, Oshkosh, Scout MotorsQuantum: Expect hardware, software, and AI using quantum mechanics to improve technologies and create new applications with enhanced security, sensing, and computing that will drive innovation forward. A new half-day of conference programming in partnership with Quantum World Congress will highlight these advancements.Exhibitor Examples: Cellid, Combat Capabilities Development Command (DEVCOM), Integrated Quantum PhotonicSustainability: Exhibitors will show technologies aimed at reducing emissions and improving energy efficiency, as well as innovations in sustainable and carbon-neutral materials.Exhibitor Examples: D-Carbonize, Exeger, Jackery, Panasonic
Must-See Keynotes and Presentations
Monday, January 6NVIDIA Founder and CEO Jensen Huang – 6:30 PM, Mandalay BayTuesday, January 7Panasonic Holdings Corporation Group CEO Mr. Yuki Kusumi, 8:30 AM, The VenetianCTA CEO and Vice Chair Gary Shapiro and CTA President Kinsey Fabrizio, 8:30 AM, The VenetianSiriusXM CEO Jennifer Witz, 11 AM, ARIAX Corp CEO Linda Yaccarino, 1:30 PM, The VenetianDelta Air Lines CEO Ed Bastian, 5 PM, SphereThis will mark the first CES keynote ever hosted at the groundbreaking venue.This keynote will have a different ticketing process and venue policies than other keynotes. For more information, visit ces.tech. Get the full Delta keynote experience at Sphere beginning at 3 PM when the doors open for an immersive and interactive exhibit in the venue’s Atrium to celebrate Delta’s 100-year journey. Following the keynote, Delta is thrilled to welcome multiple GRAMMY Award winning music icon Lenny Kravitz to the stage.Professional photography and videography will be available on Delta News Hub shortly after the keynote. Wednesday, January 8Volvo Group President and CEO Martin Lundstedt, 9 AM, The VenetianAccenture Chair and CEO Julie Sweet, 2 PM, The VenetianWaymo Co-CEO Tekedra Mawakana, Leaders in Technology Dinner *invite only
Top Conference Tracks
Accessibility – Discover innovation and technologies for people of all ages and abilities.
Accessibility and Mobility: Bridging the Gap, Tuesday, January 7, 11 AM, Venetian, LandoTech for Good: How Technology is Empowering Neurodivergent, Tuesday, January 7, 2 PM, Venetian, LandoEmpowering Independence: How AI is Improving Daily Lives, Tuesday, January 7, 3 PM, Venetian, Lando
CES Creator Space, presented by Sony – The stage at the CES Creator Space, sponsored by Pinterest and emceed by Shira Lazar, will feature three days of programming designed to help creators hone their craft. The area is open to credentialed media only.
State of the Creator Economy, Tuesday, January 7, 10:30 AM, CES Creator Stage, LVCC, Grand LobbyMeasuring Success in the Creator Economy, Thursday, January 9, 11:45 AM, CES Creator Stage, LVCC, Grand LobbyKeeping Sane: Mental Health in the Creator Economy, Thursday, January 9, 2:15 PM, CES Creator Stage, LVCC, Grand Lobby
Digital Health – Learn about the innovations that tackle major health challenges and empower consumers to take control of their health.
Health AI in 2030, Wednesday, January 8, 2 PM, Venetian, Marcello 4404Next Gen Wearable Tech, Thursday, January 9, 9 AM, Venetian, Marcello 4404Advancing Women’s Health: Innovations, Challenges, and Solutions, Thursday, January 9, 10 AM, Venetian, Level 4, Marcello 4404
Energy Transition – Explore how companies plan to address sustainable power solutions.
The Energy Infrastructure of the Future, Thursday, January 9, 9 AM, LVCC, N261Navigating the Energy Transition, Thursday, January 9, 10 AM, LVCC, N261The Key to Powering a Sustainable AI Revolution, Thursday, January 9, 11 AM, LVCC, N261
Great Minds – Explore the intersection of technology and humanity. Speakers featured in the Great Minds series include C-Suite executives, philanthropists, influencers, government leaders, entrepreneurs, venture capitalists, and more. Sessions include:
The New Era of the Automotive Ecosystem, Wednesday, January 8, 11 AM, LVCC West Hall, W232Shaping a New Era of Ingenuity: The Power of Inclusive Innovation, Wednesday, January 8, 3 PM, LVCC, West Hall, W232Revolutionizing Customer Engagement, Thursday, January 9, 10 AM, LVCC, West Hall, W232Don’t miss experts from NASA, Netflix, Mastercard, Coach, and more on the stage.
Innovation Policy Summit – CES gathers policymakers from across the world to discuss domestic and global tech policy issues including privacy, trade, competition, and more.
Is Big Always Bad: Big Tech and the Innovation Economy, Tuesday, January 7, 1 PM, LVCC, N258Tech Without Borders: The Benefits of Tech for All Communities, Wednesday, January 8, 9 AM, LVCC, N258Trade in 2025: Will the World Fracture or Reglobalize, Wednesday, January 8, 3:40, PM, LVCC, N258
Mobility Stage – New stage features the future of mobility, from electrification to connected vehicles, new battery technology, and advancements in AI.
How to Build Physical AI for Mobility, Tuesday, January 7, 10:30 AM, LVCC West Hall 1, Mobility StageBreakthroughs in Battery Tech Redefine EV Driving, Tuesday, January 7, 2:20 PM, LVCC West Hall 1, Mobility StageRevolutionizing the Future of Driving – Unleashing the Power of AI, Wednesday, January 8, 2:20 PM, LVCC, West Hall 1, Mobility Stage
Quantum Means Business – New partnership with Quantum World Congress to address how hardware, software, and AI are using quantum mechanics to improve technologies and create new applications.
Quantum is Here: Computing Advancements and Tangible Applications, Thursday, January 9, LVCC, 9 AM, West Hall, W218Global Industry Challenge: Celebrating International Year of Quantum, Thursday, January 9, 10 AM, LVCC, West Hall, W218Quantum is Now: Unprecedented Improvement in Precision and Sensitivity, Thursday, January 9, 11 AM, LVCC, West Hall, W218
Research Summit – Learn about consumer and enterprise trends across verticals.
Breaking Through the EV Demand Plateau with AI and Data Analytics, presented by EY, Monday, January 6, 1 PM, LVCC, West Hall, W232Declaration of Autonomy: Is Trust the Limit of AI’s Possibilities, presented by Accenture, Tuesday, January 7, 2 PM, LVCC West Hall, W232Navigating the Consumer Tech Landscape: Insights to Drive Growth, presented by Circana, Tuesday, January 7, 3 PM, LVCC, West Level 2, W232
Familiar faces – from musicians to sports legends and film and television stars – will be on the CES stage and throughout the show discussing and experiencing the latest innovations.
Experience the CES Show Floor
Explore innovation from global companies, including first-time exhibitors such as Foxconn (FIH Mobile), Komatsu, Oshkosh, Suzuki, and Scout Motors.
LVCC Central Hall
Showcasing the latest technology around the home and immersive entertainment – the central hub for customized, in-home entertainment, and family gaming.Exhibitor Examples: Bosch, Hisense, LG, Panasonic, Samsung, Sony, TCL
LVCC North Hall
Focused on smart communities, IoT, AI, sustainability, energy, and enterprise solutions. North Hall shows how these technologies work together to support our daily lives now and in the future.Exhibitor Examples: AIMA E-Bike, Hitachi, Indiegogo, Siemens, Xpeng AeroHT
LVCC South Hall
Back for 2025, the South Hall is where the accessories and memorable products come to life to improve how we live and work.Exhibitor Examples: EcoFlow, Green Merit Ltd, Maono, Pecron, Pkcell
LVCC West Hall
Experience the entire ecosystem of mobility at CES—from passenger and self-driving cars to construction, agriculture, boating, and advanced air travel.Exhibitor Examples: Amazon Automotive, Honda, Invo Station, MobileEye, Qualcomm, Waymo
C Space®/ARIA
Where the world’s leading brands, advertisers, media platforms, and content creators meet to forge deals, explore trends, and unveil the latest technologies reshaping the industry.Exhibitor Examples: Disney, Fox, iHeart, Kroger, Mars, Reddit, Roku, T-Mobile, Uber Ads, Walmart Ads
The Venetian
The home of smart living, including digital health, smart home, energy management, security, education, lifestyle, and food tech.Exhibitor Examples: AARP, Pawport, RenphoThe Venetian is also home to the CES Innovation Awards Showcase, with the next round of embargo award honorees scheduled to be announced on January 5.
Eureka Park at The Venetian
The startup hub of CES, home to nearly 1400 startups from around the globe.Exhibitor Examples: Global pavilions from Korea, Japan, Taiwan, Ukraine, the U.S., and others from around the world.
To search for CES exhibiting companies – by product category, keyword, or country – visit the Exhibitor Directory.
Media Days
Hear from dozens of the world’s biggest brands breaking news at two days of media-only events, January 5-6 at Mandalay Bay, including CES Unveiled and CES Tech Trends to Watch.
Press Conferences – Major brands will make announcements, including LG, Hisense, John Deere, Samsung, and Sony – January 5 and 6, Mandalay BayCES 2025 Tech Trends to Watch – Hear the top trends at CES 2025 and beyond –Sunday, January 5, 4 PM, Mandalay Bay, Oceanside CCES Unveiled Las Vegas – The Official Media Event of CES 2025 with innovative product previews – Sunday, January 5, 5-8:30 PM, Mandalay Bay, Shoreline Exhibit Hall
Media Resources
Visit the CES Media Resources for access to:
Media Room Hours and LocationsShuttle Bus InformationB-RollCES Photo Gallery
For the latest news and information, visit CES.tech. Register for CES 2025 here.
About CES®:
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2025 takes place Jan. 7-10, 2025, in Las Vegas. Learn more at CES.tech and follow CES on social.
About Consumer Technology Association (CTA)®:
As North America’s largest technology trade association, CTA is the tech sector. Our members are the world’s leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.
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SOURCE Consumer Technology Association
Technology
SHOWCASING TOMORROW’S INNOVATORS: LG NOVA RETURNS TO CES 2025
Published
9 hours agoon
January 4, 2025By
LG NOVA Pushes Forward the Future of Collaboration and Innovation Across Healthtech, AI and Cleantech
LAS VEGAS, Jan. 4, 2025 /PRNewswire/ — LG NOVA, the North America Innovation Center for LG Electronics, returns to CES this year to showcase its commitment to a brighter future through building collaborations with entrepreneurs and startups working in healthtech, AI and cleantech. LG NOVA’s exhibit will feature startup companies building transformative solutions that address today’s real-world challenges impacting people and the planet.
At CES 2025, in LG NOVA’s Eureka Park exhibit, visiting attendees will have the opportunity to explore emerging technologies in healthtech, cleantech and AI; connect with LG executives and leading startups in their respective market areas, attend in-booth sessions and tech talks, learn about LG NOVA’s vision for the innovation ecosystem and discuss the latest trends and views on the markets with the team.
LG NOVA’s showcase will include Primefocus Health, the first new venture unveiled by LG Electronics, launched in collaboration with LG NOVA. At CES, Primefocus Health will demonstrate its new healthcare solution built for providers to support patients’ recovery at home with a remote-monitoring and healthcare delivery platform. The company is working on personalized, home-based healthcare solutions tackling rural access, obesity, healthy aging and substance abuse.
Additionally, with its continual efforts on creating innovative solutions for better health, LG NOVA is exhibiting a new mental health solution concept, Relief AI. This new concept is a platform for monitoring and tracking patients’ mental wellbeing through advanced AI assessment technologies, engaging with the patient directly.
The LG NOVA startup showcase is located at Eureka Park (Venetian Expo, Hall G. Booth #60511) Featured startups in the LG NOVA program include:
Healthtech:
Continuum: A patient-controlled hub for all home health data for streamlining personal health decisions. MetaOptima: A leader in dermatology AI and skin cancer diagnostics, driven by its innovative DermEngine platform.
Cleantech:
Climative: AI-assisted digital energy assessments for homes and neighborhoods to accelerate the decarbonization and optimizing energy efficiencies through home improvements.Baleena: Next-gen filtration technology to eliminate microplastics from textile wash—redefining laundering for a cleaner future.
Artificial Intelligence:
Roll AI: An AI-powered platform for marketing teams to create production-grade videos for testimonials, webinars, and events, featuring effects like multicam and AI-simulated camera moves – all with just an iPhone.VersaWare: Creates Versa, a hands-free multi-modal AI system for cooking and nutrition. Versa is available as white-labeled SDK for appliance manufacturers and through the VersaWare mobile app and VersaBoard.
Open Innovation:
CareCam: Helps providers track patients’ recovery from neurological injuries and screen for frailty in minutes using digital biomarkers powered by patented movement analysis technology.Canary Speech: An AI-powered voice biomarker health tech company that uses real-time patented vocal analysis to screen for mental health and neurological disorders.
These startups exemplify LG NOVA’s pursuit to collaborate with innovative companies, pushing the boundaries of technology to create transformative solutions and a positive impact on the future.
For more information on LG NOVA’s at CES visit www.lgnova.com/ces-2025.
About LG NOVA
LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by establishing a community to create, nurture and grow businesses. Learn more about LG NOVA at www.lgnova.com.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.
Media Contact:
LG Electronics USA
Linda Quach
+1 408 903 3045
linda.quach@lge.com
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SOURCE LG Electronics USA
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