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Northern Data Group announces strong Q3 2024 Results, reaffirms 2024 guidance

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Q3 2024 revenue of EUR 59 million, up 235% year-on-year and adjusted EBITDA of EUR 25 millionThe combined Cloud and Data Centers Q3 2024 revenue was EUR 48 million, up 296% from Q2 2024, and was more than ten times higher than Q3 2023, driven by the ongoing GPU deployment and the onboarding of customersBuilding the foundations of our AI platform at a pace:19,000 NVIDIA H100 Tensor Core GPUs delivered and/or deployed, with rollout of 2,000 NVIDIA H200 Tensor Core GPUs in late Q4Pittsburgh, Pennsylvania data center retrofit progressing on 20MW facility: first 5MW for Q1 2025On track to meet FY 2024 revenue target of EUR 200 millionEUR 240 million, tripling that of 2023, and adjusted EBITDA of EUR 50 millionEUR 80 millionSuccessful capital raise of EUR 214 million announced in July which has funded further strategic investments

FRANKFURT, Germany, Oct. 17, 2024 /PRNewswire/ — Northern Data AG (ETR: NB2) (“Northern Data Group” or “the Group”), a leading provider of AI and High-Performance Computing (HPC) solutions, today announces its Q3 2024 financial results, and reaffirms its FY 2024 guidance.

Revenue in Q3 2024 was EUR 59 million, 235% over the prior year and the third consecutive quarter of strong sequential growth in our Cloud business. The strong revenue growth was the result of the ongoing GPU deployment and onboarding of customers by the Cloud business. Adjusted EBITDA in Q3 2024 was EUR 25 million, significantly higher than the previous quarter. 

In Q3 2024 we saw a momentum shift in the Cloud business with the ongoing roll out of NVIDIA H100 Tensor Core GPUs, reinforcing that 2024 is a year of delivery and execution. This successful onboarding of key customers helped drive record performance for the Group’s Cloud platform, with revenue of EUR 48 million, representing 80% of Group revenue for the quarter. 

The Group is on track to deliver full year 2024 revenue of EUR 200 millionEUR 240 million

(FY 2023: EUR 77 million) and adjusted EBITDA to be in the range of EUR 50 millionEUR 80 million.  The Group expects full year 2025 revenues of EUR 520 millionEUR 570 million and adjusted EBITDA of EUR 300 millionEUR 350 million.

Operational execution and financial strength provide solid foundations for continued growth

Strategic partnerships, and the EUR 214 million capital raise announced in July 2024 strengthened the Group’s ability to meet growing HPC demand and broaden its presence in the growing AI ecosystem while demonstrating confidence in the Group’s strategic direction and investment strategy. Highlights included: 

Cloud – Partnership with Supermicro announced to roll out NVIDIA H200 Tensor Core GPUs, further expanding GenAI offering and demonstrating commitment to providing best-in-class technology to its customers. The additional GPU capacity is set to be rolled out in late Q4.  Data Centers – Continued the retrofit the recently acquired data center in Pittsburgh, Pennsylvania, into a cutting-edge, high-density data center environment. Multiple other acquisition prospects continued to be assessed in Due Diligence. Mining – Corpus Christi, Texas coming online in Q3, and remains on track to deliver expected 7.9EH/s by year-end.  

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

“Q3 has seen a real step-change for the Group. We’ve done what we set out to do – we’ve doubled down on our AI and HPC ambition and leveraged strategic partnerships and investments to boost the Group’s market position.”

“Our successful deployment of NVIDIA H100 Tensor Core GPUs sets us on a strong course for the rest of the year, to meet both our ambitious targets and 2024 financial guidance.”

“We are focused on building our market-leading AI and HPC offering. We’re growing, scaling and delivering, and I’m looking forward to enabling our customers reach their Generative AI ambitions.” 

Results presentation and webcast:

A presentation for investors and analysts will be held today, 17th October 2024, at 4:00 PM CET.

This conference call will be available through an audio webcast. Please use this link to register. 

Additionally, analysts can join the conference call using their local dial- in number:

Germany Toll-Free: +49 800 0009712

United Kingdom/International Toll-Free: +44 800 358 1035

United States Toll-Free: +1 855 979 6654

Global dial in numbers can be found here

Access code required: 183303

A replay of the conference call will be available through the Investor Relations section of the Northern Data Group website at Publications (northerndata.de)

About Northern Data Group:

Northern Data Group is a leading provider of AI and High-Performance Computing (HPC) solutions, leveraging high-density, liquid-cooled, GPU-based technology to empower the world’s most innovative organizations. Together with our partners, we are passionate about the potential of HPC to drive not only technological advancements but also societal progress.

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.  

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Massive Gaming, Neowiz, and Kangwon Land Launched ‘Shen Shou Wan fu’ Slot Machine Offline

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‘Shen Shou Wan fu’ is an online slot game that features three powerful guardians, symbolizing immense wealth

Now available as physical slot machines in offline casinos through a collaboration with Kangwon Land

MVG plans to expand distribution with exclusive B2B rights to online channels for slot games

SYDNEY, Jan. 16, 2025 /PRNewswire/ — Massive Gaming(“MVG”) announced that it has launched the ‘Shen Shou Wan fu (神兽万福)’ slot game, co-developed with Neowiz, MVG’s parent company, and Kangwon Land, which hosts the only casino in South Korea open to locals. The game is now available in offline venues as slot machines.

‘Shen Shou Wan fu’ is an online slot game featuring motifs of the Golden Dragon (JIN LONG), Phoenix (FENGHUANG), and Haetae (XIEZHI), which symbolize luck and prosperity.

The slot machine debuted in offline casino venues. Key personnel from MVG and Neowiz worked closely on the art resources and software design of ‘Shen Shou Wan fu’, ensuring a seamless integration of creative and technical expertise. Kangwon Land managed the slot machine’s hardware design and manufacturing. This launch marks the first commercialization of software-based products through public-private collaboration in South Korea’s casino market.

After successfully establishing ‘Shen Shou Wan fu’ in the Korean market, MVG is ready to leverage this success for aggressive global sales. Holding exclusive rights to the slot game, MVG plans to expand its presence in the regulated gaming market by targeting key regions with strategic marketing and distribution.

A representative stated, “We are pleased to showcase our slot game in offline casinos with Kangwon Land,” adding plans to introduce diverse content for global markets.

Massive Gaming(MVG), a prominent B2B iGaming content provider and a subsidiary of Neowiz (KOSDAQ:095660), offers a diverse range of slot, table, and crash games, as well as an advanced Casino Management System and Live Streaming Services. With brands like Whale House, known for its unique slot games, and Blitzcrown, focused on non-traditional gaming experiences, MVG leads in innovative gaming solutions. Committed to high-quality service and technological excellence, MVG continues to expand its global presence. Learn more at: https://massivegaming.io/

 

 

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SOURCE Massive Gaming Pty. Ltd.

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LG Display Unveils 4th-Generation OLED Panel Optimized for AI Era

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SEOUL, South Korea, Jan. 15, 2025 /PRNewswire/ — LG Display, the world’s leading innovator of display technologies, continues to lead the way in large-sized OLED technology by unveiling its fourth-generation OLED TV panel. 33% brighter than the previous generation and optimized for the AI TV era, it is the industry’s first-ever OLED display to achieve a maximum brightness as high as 4,000 nits (1 nit is the brightness produced by a candle).

Panels with both high brightness and energy efficiency are essential for AI TVs, as they use upscaling that analyzes content in real time to deliver ultra-high picture quality of up to 8K. The industry also considers higher brightness to be a key picture quality factor because it enables more vivid images that are akin to natural human vision.

LG Display’s fourth-generation OLED TV panel meets the performance demands of the most advanced AI TVs, interacting in real-time with the TV’s on-device AI to deliver the perfect picture in any environment.   

The new panel’s innovation centers on a Primary RGB Tandem structure, which is LG Display’s proprietary technology that uses independent stacks of RGB elements to produce light. It had previously used a three-stack light source, with two layers of blue elements emitting relatively short energy wavelengths alongside red, green, and yellow elements in a single layer.

The Primary RGB Tandem structure applied to the fourth-generation OLED TV panel organizes the light source into four stacks by adding two layers of blue elements and independent layers of red and green elements. It improves maximum brightness by increasing the amount of light produced by each layer compared to the previous structure.

As well as increasing maximum brightness, LG Display has raised the latest OLED panel generation’s color brightness. Color purity is enhanced by separating the red, green, and blue elements – the three primary colors of light – into distinct layers, resulting in a color brightness of 2,100 nits, a 40% improvement over the previous generation (1,500 nits).

In addition, energy efficiency has been maximized in line with the significantly higher expected power consumption of AI TVs. By enhancing the fourth-generation OLED TV panel’s structure and power supply system, LG Display has reduced its temperature and achieved around 20% greater energy efficiency than the previous generation (in the case of a 65-inch panel).

It also delivers a customer experience that pushes the limits of display with stunning picture quality featuring perfect blacks and rich colors in any environment.

In general, a display’s color reproduction is affected by external light. As the screen reflects ambient light in a bright room, black may appear gray or overlapping reflections of nearby objects might disrupt the viewing experience. For example, while watching content featuring a night sky in a living room in the middle of the day, any sense of immersion would be broken if the sky appears foggy or if reflected furniture overlaps on the screen.

To solve this customer inconvenience, LG Display has developed a special film that offsets both light reflected from the display’s surface and light absorbed and reflected inside the panel. With the advantage of this ultra-low reflection technology, the company’s fourth-generation OLED TV panel blocks 99% of internal and external light reflections, realizing perfect black just like in a movie theater with the lights off even in a midday living room setting (500 lux).

A display’s color gamut and accuracy also decrease dramatically as the viewing environment gets brighter. However, this TV panel sees virtually no change in color gamut and offers 100% color accuracy at 500 lux. It is therefore the only display to overcome the viewing environment limitations of conventional displays.

Meanwhile, the fourth-generation OLED TV panel provides differentiated customer value through human-friendly technologies, such as by emitting only 45% blue light compared with the 70-80% level that would typically be produced by an LCD screen. Blue light is known to negatively affect users’ vision and circadian rhythms.

It additionally stands out as a sustainable display by adopting eco-friendly methods in the entire product life cycle from development to mass production, including using more than 90% fewer plastic raw materials than LCDs and improving the recycling rate of end-of-life product parts to over 92.7%.

LG Display will apply its fourth-generation OLED TV panel to its top-of-the-line mass-produced lineup this year to consolidate its dominance in the premium TV market.

The company then plans to gradually apply its Primary RGB Tandem technology to its Gaming OLED lineup, targeting the high-end gaming market with a diverse range of panels. This already includes the world’s fastest monitor panel equipped with the industry’s highest response speed and refresh rate, which are important specifications for gaming monitors, as well as bendable panels that adjust their curvature according to the gaming content.

“The fourth-generation OLED panel is the essence of innovation that exceeds the limits of existing displays by applying LG Display’s unique technologies such as Primary RGB Tandem and ultra-low reflection technology,” said Hyeon-woo Lee, Senior Vice President and Head of the Large Display Business Unit at LG Display. He added, “We will provide an unprecedented customer experience along with superior picture quality and user-friendly technology while strengthening our OLED technology leadership.”

About LG Display

LG Display Co., Ltd. [NYSE: LPL, KRX: 034220] is the world’s leading innovator of display technologies, including thin-film transistor liquid crystal and OLED displays. The company manufactures display panels in a broad range of sizes and specifications primarily for use in TVs, notebook computers, desktop monitors, automobiles, and various other applications, including tablets and mobile devices. LG Display currently operates manufacturing facilities in Korea and China, and back-end assembly facilities in Korea, China, and Vietnam. The company has approximately 70,707 employees operating worldwide. For more news and information about LG Display, please visit www.lgdisplay.com.

Media Contact:
Joo Yeon Jennifer Ha, Manager, Communication Team
Email: hjy05@lgdisplay.com

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SOURCE LG Display

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Agoda: Tokyo crowned top international destination for welcoming ‘The Year of the Snake’

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SINGAPORE, Jan. 16, 2025 /PRNewswire/ — As the Lunar New Year approaches, digital travel platform Agoda reveals the top 10 most sought-after cities in Asia to celebrate the start of ‘The Year of the Snake’. Japanese cities emerged as tourist favorites for the holiday period with Tokyo taking the top spot.

Tokyo is followed by Bangkok (Thailand), Osaka (Japan), Fukuoka (Japan), and Seoul (South Korea) rounding out the top five based on accommodation search data on Agoda. The list continues with Hong Kong, Sapporo (Japan), Singapore, Phuket (Thailand), and Hat Yai (Thailand) completing the top ten.

Asian travelers are drawn to celebrate the Lunar New Year in metropolitan hubs such as Tokyo, Bangkok, and Seoul. These cities offer an exciting array of festivities and cultural experiences, making them attractive destinations for a festive getaway. The rankings also reveal that travelers seeking international destinations enjoy a mix of climates, from the cooler weather in Osaka and Sapporo to the warmer temperatures in Phuket and Hat Yai.

Hiroto Ooka, Associate Vice President North Asia at Agoda shared, “The Lunar New Year is a special time for travelers, and it’s exciting to see Japanese cities like Tokyo and Osaka being such sought-after destinations during the holiday. Agoda is thrilled to be part of this journey, helping travelers welcome a prosperous ‘Year of the Snake’ and celebrate in style with great deals on flights, accommodations and activities.”

The Lunar New Year holiday marks new beginnings and the arrival of Spring, making it a popular travel period as people look to reunite with family and friends. ‘The Year of the Snake’ symbolizes rebirth and transformation and is said to present an auspicious opportunity for embracing self-discovery and exploring new horizons. Known for their association with good fortune, snakes inspire travelers to shed the old and welcome the new — whether by rediscovering familiar places or venturing abroad during this festive season. 

As travelers prepare for their Lunar New Year holidays, Agoda offers exceptional deals on over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities available on the platform. Travelers can find the latest deals on the Agoda app or at agoda.com/deals.

–ENDS–

 

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SOURCE Agoda

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