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Ginkgo Bioworks Reports Third Quarter 2024 Financial Results

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Ginkgo provides update on its restructuring process including an acceleration of site consolidation initiatives and continued progress on cost reductions

Ginkgo signs new and expanded deals with Novo Nordisk and achieves a major research milestone with Merck 

BOSTON, Nov. 12, 2024 /PRNewswire/ — Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”), which is building the leading platform for cell programming and biosecurity, today announced its results for the third quarter ended September 30, 2024. The update, including a webcast slide presentation with additional details on the third quarter and supplemental financial information will be available at investors.ginkgobioworks.com.

Third Quarter 2024 Financial Results

Third quarter 2024 Total revenue of $89 million, up from $55 million in the comparable prior year period, an increase of 61% driven by $45 million of non-cash revenue from a release of deferred revenue relating to the mutual termination of a customer agreement. Excluding this impact, Total revenue in the quarter was $44 million, a decrease of 21% over the prior year periodExcluding the $45 million non-cash deferred revenue release, third quarter 2024 Cell Engineering revenue of $30 million, down from $37 million in the comparable prior year period, a decrease of 20% driven by the continued shift from early stage customers to large/enterprise customers along with commercial changes related to the restructuringThird quarter 2024 Biosecurity revenue of $14 million with gross profit margin of 28%. Biosecurity revenue decreased from the comparable prior year period due to the expected ramp down of K-12 testingThird quarter 2024 Loss from operations of $(55) million (inclusive of stock-based compensation expense of $14 million and M&A and restructuring related costs of $2 million, net), compared to Loss from operations of $(286) million (inclusive of stock-based compensation expense of $54 million and M&A and restructuring related costs, including asset impairments, of $124 million) in the comparable prior year period. The 2024 period also benefited from the above non-cash deferred revenue releaseThird quarter 2024 Adjusted EBITDA of $(20) million, up from $(84) million in the comparable prior year period, driven by the above non-cash deferred revenue release and a decrease in operating expensesCash and cash equivalents balance as of the end of the third quarter of $616 million

“I’m extremely proud of the significant progress we made in the third quarter,” said Jason Kelly, co-founder and CEO of Ginkgo. “The team has been laser-focused on delivering for customers while driving down costs even further. We are achieving ambitious milestones, signing new deals with several new and existing customers while also launching our new Automation, Datapoints and AI offerings. Beyond customer successes, we will substantially consolidate our overall real estate footprint by exiting several facilities in Cambridge, MA and Europe by year end. We couldn’t have done this without the support of our Board and we’re very grateful to Arie for all of his service and contributions to our journey since going public, and look forward to working closely with Sri as he brings a wealth of knowledge in the automation and life science tools space as we expand increasingly into tools. It’s an incredibly important time to be pursuing the mission of making biology easier to engineer and creating sustainable biosecurity infrastructure for the future. I am excited by the momentum we are gaining to meet that mission as we close out this year on a substantially reduced cost base.”

Recent Business Highlights & Strategic Positioning

Cell Engineering closed deals with new and existing customersAdded 25 new programs and other customer contracts to the Cell Engineering platform in Q3 2024, of which 11 were comparable in size and scope to historically reported New Programs and an additional 14 contracts that represent a variety of other deal archetypes, such as Datapoints projectsSigned a new deal with Novo Nordisk focused on the discovery and development of proteins while also expanding Ginkgo’s existing collaboration on expression systems for pharmaceutical productsDelivered on a major research milestone for Ginkgo’s previously announced deal with Merck. As part of this milestone completion, Ginkgo will receive a fee of $9 million in cash, expected in Q4 2024, and will move to Stage 2 to work towards making an even more effective production processSigned three new Datapoints deals with a major TechBio company and two of the top 25 pharmaceutical companiesGinkgo Biosecurity continues to work towards creating solutions that offer persistent, pervasive monitoringGinkgo validated its approach to rapidly detect H5N1 and has updated its offerings to include DNA sequencing of raw milk, bioinformatics as a service and comprehensive analyzed data setsGinkgo made significant progress on its plan to reach Adjusted EBITDA breakeven by the end of 2026The reduction in force is estimated to achieve over $85 million in annualized savings by mid-2025Ginkgo has continued implementing significant non-people cost cutting measures, including rationalizing third-party costs and site consolidationDr. Sri Kosuri, CEO of Octant and former associate professor at UCLA in the Chemistry and Biochemistry Department, joined our Board on November 6, 2024. Dr. Arie Belldegrun, a director since September 2021 and member of our compensation committee, resigned from the Board on November 7, 2024

Full Year 2024 Outlook

Ginkgo previously issued 2024 guidance for Total revenue of $170-190 million; Cell Engineering services revenue of $120-140 million; and Biosecurity revenue of at least $50 million. Ginkgo updates its previously issued guidance solely to reflect the impact of the previously mentioned $45 million non-cash deferred revenue release in the third quarter to:Total revenue guidance of $215-235 million in 2024;Cell Engineering services revenue of $165-185 million in 2024; andBiosecurity revenue of at least $50 million in 2024.

Conference Call Details
Ginkgo will host a videoconference today, Tuesday, November 12, 2024, beginning at 5:30 p.m. ET. The presentation will include an overview of third quarter financial performance, recent business updates, a discussion on Ginkgo’s outlook, as well as a moderated question and answer session.

To ask a question ahead of the presentation, please submit your questions to @Ginkgo on X (hashtag #GinkgoResults) or by sending an e-mail to investors@ginkgobioworks.com.

A webcast link is available on Ginkgo’s Investor Relations website and a replay will be made available following the presentation.

Ginkgo Investor Website: https://investors.ginkgobioworks.com/events/

Audio-Only Dial Ins:
+1 646 876 9923 (New York)
+1 301 715 8592 (Washington DC)
+1 312 626 6799 (Chicago)
+1 669 900 6833 (San Jose)
+1 253 215 8782 (Tacoma)
+1 346 248 7799 (Houston)
+1 408 638 0968 (San Jose)

Webinar ID: 920 8859 2008

If you experience technical difficulties with any of these dial-ins or if you need international dial-in numbers, please visit our website at https://investors.ginkgobioworks.com/events/ for updated dial-in information.

About Ginkgo Bioworks
Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo Biosecurity is building and deploying the next-generation infrastructure and technologies that global leaders need to predict, detect, and respond to a wide variety of biological threats.  For more information, visit ginkgobioworks.com and ginkgobiosecurity.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks) or LinkedIn.

Forward-Looking Statements of Ginkgo Bioworks
This press release, the presentation, and the conference call and webcast contain certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our plans, strategies, including with respect to our current expectations, operations and anticipated results of operations, both business and financial, including the timing for attaining Adjusted EBITDA breakeven and profitability, our reduction in workforce and anticipated impacts thereof, the timing and structuring of our facilities consolidation and the potential financial impact thereof, potential customer success, including successful application of our offerings by our customers, expectations with regard to revenue, expenses, including our stock-based compensation expenses, our full year 2024 outlook, and the market environment, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “can,” “project,” “potential,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) our ability to realize near-term and long-term cost savings associated with our site consolidation plans, including the ability to terminate leases or find sub-lease tenants for unused facilities, (ii) volatility in the price of Ginkgo’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance across competitors, and changes in laws and regulations affecting Ginkgo’s business, (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional business opportunities, (iv) the risk of downturns in demand for products using synthetic biology, (v) the uncertainty regarding the demand for passive monitoring programs and biosecurity services, (vi) changes to the biosecurity industry, including due to advancements in technology, emerging competition and evolution in industry demands, standards and regulations, (vii) the outcome of any pending or potential legal proceedings against Ginkgo, (viii) our ability to realize the expected benefits from and the success of our Foundry platform programs, (ix) our ability to successfully develop engineered cells, bioprocesses, data packages or other deliverables, (x) the product development or commercialization success of our customers, and (xi) the potential negative impact on our business of our planned reduction in force or the failure to realize the anticipated savings associated therewith. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Ginkgo’s annual report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 29, 2024 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.

Use of Non-GAAP Financial Measures
Certain of the financial measures included in this release, including Adjusted EBITDA, have not been prepared in accordance with generally accepted accounting principles (“GAAP”), and constitute “non-GAAP financial measures” as defined by the SEC. Ginkgo has included these non-GAAP financial measures because it believes they provide an additional tool for investors to use in evaluating Ginkgo’s financial performance and prospects. Due to the nature and/or size of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of our future operating performance. These non-GAAP financial measures are supplemental to, and should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. In addition, these non-GAAP financial measures may differ from non-GAAP financial measures with comparable names used by other companies. See the reconciliation below for additional information regarding certain of the non-GAAP financial measures included in this release, including a description of these non-GAAP financial measures and a reconciliation of the historic measures to Ginkgo’s most comparable GAAP financial measures.

Ginkgo Bioworks Contacts:

INVESTOR CONTACT:
investors@ginkgobioworks.com 

MEDIA CONTACT:
press@ginkgobioworks.com 

 

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except per share data, unaudited)

As of September 30, 2024

As of December 31, 2023

Assets

Current assets:

Cash and cash equivalents

$                                  616,214

$                                 944,073

Accounts receivable, net

23,411

17,157

Accounts receivable – related parties

531

742

Prepaid expenses and other current assets

22,324

39,777

Total current assets

662,480

1,001,749

Property, plant, and equipment, net

211,035

188,193

Operating lease right-of-use assets

405,911

206,801

Investments

62,103

78,565

Intangible assets, net

79,566

82,741

Goodwill

49,238

Other non-current assets

59,788

58,055

Total assets

$                             1,480,883

$                            1,665,342

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$                                    15,700

$                                     9,323

Deferred revenue

22,894

44,486

Accrued expenses and other current liabilities

75,833

110,051

Total current liabilities

114,427

163,860

Non-current liabilities:

Deferred revenue, net of current portion

105,247

158,062

Operating lease liabilities, non-current

445,592

221,835

Other non-current liabilities

17,674

24,433

Total liabilities

682,940

568,190

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.0001 par value

Common stock, $0.0001 par value

5

5

Additional paid-in capital

6,527,698

6,386,191

Accumulated deficit

(5,730,023)

(5,290,528)

Accumulated other comprehensive income

263

1,484

Total stockholders’ equity

797,943

1,097,152

Total liabilities and stockholders’ equity

$                             1,480,883

$                            1,665,342

 

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except per share data, unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

Cell Engineering revenue

$           75,089

$          37,176

$        139,183

$          116,555

Biosecurity revenue:

   Product

6,495

28,949

   Service

13,957

11,759

44,013

71,196

Total revenue

89,046

55,430

183,196

216,700

Costs and operating expenses:

   Cost of Biosecurity product revenue

906

7,481

   Cost of Biosecurity service revenue

9,987

6,017

30,996

39,913

   Cost of other revenue

2,016

3,930

   Research and development (1)

77,006

156,662

347,684

463,583

   General and administrative (1)

52,292

82,028

188,864

295,802

   Impairment of lease assets

96,210

96,210

   Goodwill impairment

47,858

   Restructuring charges

2,949

20,015

Total operating expenses

144,250

341,823

639,347

902,989

Loss from operations

(55,204)

(286,393)

(456,151)

(686,289)

Other income (expense):

   Interest income, net

9,251

15,020

31,275

43,914

   Loss on equity method investments

(1,516)

   Loss on investments

(6,912)

(36,324)

(16,282)

(44,815)

   Loss on deconsolidation of subsidiary

(7,013)

(7,013)

   Change in fair value of warrant liabilities

1,528

1,891

5,701

(1,387)

   Other income, net

1,572

2,893

2,821

9,045

Total other income (expense)

(1,574)

(16,520)

16,502

5,241

Loss before income taxes

(56,778)

(302,913)

(439,649)

(681,048)

Income tax expense (benefit)

(375)

(22)

(154)

127

Net loss

$      (56,403)

$     (302,891)

$     (439,495)

$       (681,175)

Net loss per share, basic and diluted

$          (1.08)

$           (6.21)

$           (8.58)

$           (14.09)

Weighted average common shares outstanding:

   Basic

52,240

48,770

51,244

48,330

   Diluted

52,246

48,770

51,250

48,330

Comprehensive loss:

Net loss

$     (56,403)

$     (302,891)

$     (439,495)

$  (681,175)

Other comprehensive income (loss):

   Foreign currency translation adjustment

494

(1,599)

(2,713)

(267)

   Reclassification of foreign currency translation

   adjustment realized upon sale of

   foreign subsidiary

1,492

1,492

Total other comprehensive income (loss)

1,986

(1,599)

(1,221)

(267)

Comprehensive loss

$     (54,417)

$     (304,490)

$     (440,716)

$       (681,442)

 (1) Total stock-based compensation expense, inclusive of employer payroll taxes, was allocated as follows (in thousands):

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

Research and development

$             3,214

$         33,976

$         48,028

$         122,086

General and administrative

10,799

19,671

46,608

69,238

Total

$           14,013

$         53,647

$         94,636

$         191,324

 

Ginkgo Bioworks Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

Nine Months Ended September 30,

2024

2023

Cash flows from operating activities:

Net loss

$                         (439,495)

$                          (681,175)

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

Depreciation and amortization

47,368

57,670

Stock-based compensation

91,783

187,047

Goodwill impairment

47,858

Restructuring related impairment charges

4,823

Loss on investments and equity method investments

16,282

46,331

Loss on deconsolidation of subsidiary

7,013

Change in fair value of warrant liabilities

(5,701)

1,387

Change in fair value of contingent consideration liability

3,698

10,217

Non-cash lease expense

20,619

24,635

Non-cash in-process research and development

19,796

3,981

Impairment of long-lived assets

121,404

Other non-cash activity

655

3,053

Changes in operating assets and liabilities:

Accounts receivable

(6,101)

21,168

Prepaid expenses and other current assets

3,487

13,557

Operating lease right-of-use assets

19,224

9,277

Other non-current assets

(196)

(2,733)

       Accounts payable, accrued expenses and other current    liabilities

(31,099)

(4,822)

Deferred revenue, current and non-current

(67,779)

(29,382)

Operating lease liabilities, current and non-current

(11,383)

(18,310)

Other non-current liabilities

1,998

(974)

Net cash used in operating activities

(277,150)

(237,669)

Cash flows from investing activities:

Purchases of property and equipment

(48,831)

(37,355)

Business acquisition

(5,400)

Proceeds from sales of marketable securities

3,951

Proceeds from sale of equipment

591

3,000

Other

538

336

Net cash used in investing activities

(49,151)

(34,019)

Cash flows from financing activities:

Proceeds from exercise of stock options

84

79

Principal payments on finance leases

(694)

(977)

Contingent consideration payment

(922)

(1,082)

Other

(4)

(604)

Net cash used in financing activities

(1,536)

(2,584)

Effect of foreign exchange rates on cash and cash equivalents

(208)

(690)

Net decrease in cash, cash equivalents and restricted cash

(328,045)

(274,962)

Cash and cash equivalents, beginning of period

944,073

1,315,792

Restricted cash, beginning of period

45,511

53,789

Cash, cash equivalents and restricted cash, beginning of period

989,584

1,369,581

Cash and cash equivalents, end of period

616,214

1,049,244

Restricted cash, end of period

45,325

45,375

Cash, cash equivalents and restricted cash, end of period

$                           661,539

$                          1,094,619

 

Selected Non-GAAP Financial Measures

(in thousands, unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

Net loss (1)

$        (56,403)

$       (302,891)

$        (439,495)

$       (681,175)

Interest income, net

(9,251)

(15,020)

(31,275)

(43,914)

Income tax expense (benefit)

(375)

(22)

(154)

127

Depreciation and amortization

17,171

21,060

47,368

57,670

EBITDA

(48,858)

(296,873)

(423,556)

(667,292)

Stock-based compensation (2)

14,013

53,647

94,636

191,324

Impairment expense (3)

112,403

47,858

121,404

Restructuring charges (4)

2,949

20,015

Merger and acquisition related expenses (5)

(796)

12,253

6,110

43,127

Loss on equity method investments

1,516

Loss on investments

6,912

36,324

16,282

44,815

Loss on deconsolidation of subsidiary

7,013

7,013

Change in fair value of warrant liabilities

(1,528)

(1,891)

(5,701)

1,387

Change in fair value of convertible notes

281

317

1,127

121

Adjusted EBITDA

$        (20,014)

$        (83,820)

$        (236,216)

$        (263,598)

(1)

All periods include non-cash revenue when earned, including $45.4 million in the three and nine months ended September 30, 2024, recognized pursuant to the termination of revenue contracts with Motif.

(2)

Includes $0.2 million and $1.1 million in employer payroll taxes for the three months ended September 30, 2024 and 2023, respectively, and $2.9 and $4.3 million for the nine months ended September 30, 2024 and 2023, respectively.

(3)

For 2024, includes $47.9 million related to goodwill impairment. For the three months ended September 30, 2023, includes a $16.2 million impairment loss on lab equipment and a $96.2 million impairment loss on an operating lease right-of-use asset and related leasehold improvements associated with an exited Zymergen leased facility. For the nine months ended September 30, 2023, includes a $25.2 million impairment loss on lab equipment and a $96.2 million impairment loss on lease assets associated with the exited Zymergen leased facility.

(4)

Restructuring charges consist of employee termination costs from the reduction in force commenced in June 2024, as well as the impairment of a right-of-use asset relating to facilities consolidation.

(5)

Represents transaction and integration costs directly related to mergers and acquisitions, including: (i) due diligence, legal, consulting and accounting fees associated with acquisitions, (ii) post-acquisition employee retention bonuses and severance payments, (iii) the fair value adjustments to contingent consideration liabilities resulting from acquisitions, (iv) costs associated with the Zymergen Bankruptcy, as well as securities litigation costs, net of insurance recovery. Not included in this adjustment are non-cash charges for acquired in-process research and development expenses, which totaled $19.8 million and $4.0 million in the nine months ended September 30, 2024 and 2023, respectively.

 

Ginkgo Bioworks Holdings, Inc.

Segment Information

(in thousands, unaudited)

Three Months Ended September 30,

Nine Months Ended September 30,

2024

2023

2024

2023

Revenue:

Cell Engineering

$          75,089

$         37,176

$       139,183

$       116,555

Biosecurity

13,957

18,254

44,013

100,145

Total revenue

89,046

55,430

183,196

216,700

Segment cost of revenue:

Cell Engineering

2,016

3,930

Biosecurity

9,987

6,923

30,996

47,394

Segment research and development expense:

Cell Engineering

57,201

90,889

253,790

275,494

Biosecurity

141

313

720

1,408

Total segment research and development expense

57,342

91,202

254,510

276,902

Segment general and administrative expense:

Cell Engineering

29,319

42,617

103,167

155,216

Biosecurity

10,040

12,207

33,169

42,862

Total segment general and administrative expense

39,359

54,824

136,336

198,078

Segment operating (loss) income:

Cell Engineering

(13,447)

(96,330)

(221,704)

(314,155)

Biosecurity

(6,211)

(1,189)

(20,872)

8,481

Total segment operating loss

(19,658)

(97,519)

(242,576)

(305,674)

Operating expenses not allocated to segments:

Stock-based compensation (1)

14,013

53,647

94,636

191,324

Depreciation and amortization

17,171

21,060

47,368

57,670

Impairment expense (2)

112,403

47,858

121,404

Restructuring charges

2,949

20,015

Change in fair value of contingent consideration liability

1,413

1,764

3,698

10,217

Loss from operations

$      (55,204)

$    (286,393)

$    (456,151)

$    (686,289)

(1)

Includes $0.2 million and $1.1 million in employer payroll taxes for the three months ended September 30, 2024 and 2023, respectively, and $2.9 million and $4.3 million in employer payroll taxes for the nine months ended September 30, 2024 and 2023, respectively.

(2)

For 2024, includes $47.9 million related to goodwill impairment. For the three months ended September 30, 2023, includes a $16.2 million impairment loss on lab equipment and a $96.2 million impairment loss on an operating lease right-of-use asset and related leasehold improvements associated with an exited Zymergen leased facility. For the nine months ended September 30, 2023, includes a $25.2 million impairment loss on lab equipment and a $96.2 million impairment loss on lease assets associated with the exited Zymergen leased facility.

 

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Precisely Named a Leader in IDC MarketScape: Worldwide Data Intelligence Platform Software, 2024

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Industry recognition based on demonstrated capabilities and alignment of strategies with customer requirements in data intelligence

BURLINGTON, Mass. , Nov. 14, 2024 /PRNewswire/ — Precisely, the global leader in data integrity, today announced it was named a leader in the IDC MarketScape: Worldwide Data Intelligence Platform Software, 2024* report. The in-depth assessment highlights the strengths of the Precisely Data Integrity Suite in meeting data intelligence needs with accurate, consistent, and contextual data.

 

 

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According to the IDC MarketScape, “Precisely’s data intelligence platform is built on a shared data catalog that natively harvests metadata from all services in the Data Integrity Suite. This enables greater data intelligence without expensive or time-consuming data integration configurations.” The report also noted, “The suite’s modular design allows customers to select needed capabilities, offering customers flexibility and scale in their data intelligence platform. One of the key differentiators for Precisely is its geospatial data management capabilities, covering address cleansing and standardization as well as location-based data enrichment and analytics.”  The report also noted, “Precisely utilizes AI to automatically assess and enhance data quality throughout the platform, employing machine learning algorithms for anomaly detection, data cleansing, and data integrity scoring.”

IDC defines a data intelligence software platform as one product that includes data definition, profiling, quality, lineage, cataloging, and stewardship (governance) capabilities. The IDC MarketScape evaluated 13 vendors based on capabilities and strategies that align with customer requirements.

“As data demands and regulations continue to evolve, Precisely is enabling organizations to gain comprehensive control over their data landscape and have confidence in the outcomes of their advanced analytics and AI initiatives,” said Chris Hall, Chief Product Officer, Precisely. “We believe this recognition from the IDC MarketScape confirms the value our single platform approach brings, providing unmatched flexibility and expertise to fit the needs of any company’s data journey.”

The Precisely Data Integrity Suite, which relies on the Data Integrity Foundation to drive its interoperable set of SaaS services, provides comprehensive visibility into data intelligence, AI-enhanced data governance and quality, scalable support of hybrid environments, and unique geospatial capabilities.

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*IDC MarketScape: Worldwide Data Intelligence Platform Software 2024 Vendor Assessment, doc #US51467224, November 2024

About IDC MarketScape

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.

About Precisely
As a global leader in data integrity, Precisely ensures that your data is accurate, consistent, and contextual. Our portfolio, including the Precisely Data Integrity Suite, helps integrate your data, improve data quality, govern data usage, geocode and analyze location data, and enrich with complementary datasets for confident business decisions. Over 12,000 organizations in more than 100 countries, including 93 of the Fortune 100, trust Precisely software, data, and strategy services to power AI, automation, and analytics initiatives. Learn more at www.precisely.com.

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Technology

Dental Revenue Announces Strategic Marketing Partnership with The Dawson Academy

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Dental Revenue, a leading provider of high-ROI dental marketing solutions, is excited to announce a new partnership with The Dawson Academy, a world-renowned provider of advanced dental education.

BALTIMORE, Nov. 14, 2024 /PRNewswire-PRWeb/ — Dental Revenue, a leading provider of high-ROI dental marketing solutions, is excited to announce a new partnership with The Dawson Academy, a world-renowned provider of advanced dental education. This collaboration will empower dental practices to enhance their patient relationships, improve practice profitability, and access proven, cutting-edge marketing strategies that align with the highest standards of clinical excellence.

“Our services are designed to help practices grow by engaging and educating patients, and with The Dawson Academy’s respected educational foundation, we’re positioned to offer enhanced value to practices dedicated to complete dentistry,” said Brian Burns, CEO of Dental Revenue.

A Brief History of Dental Revenue

Dental Revenue, founded in 2008, offers a Performance Program with specialized website software and optimized marketing strategies for dental practices. Its “Conversion Coach” services and seamless integration with practice management systems help boost revenue, attract patients, and increase ROI by mapping leads to revenue and new patient metrics.

Equipping Dawson Dentists For Success

The partnership combines Dental Revenue’s comprehensive digital marketing expertise with The Dawson Academy’s commitment to providing education in complete dentistry, helping dentists develop mastery in patient care. Together, the organizations aim to help practices grow by delivering targeted marketing solutions that attract and retain quality patients seeking comprehensive, outcome-focused care.

“We’re thrilled to partner with The Dawson Academy to support practices that are committed to exceptional patient care,” said Brian Burns, CEO of Dental Revenue. “Our services are designed to help practices grow by engaging and educating patients, and with The Dawson Academy’s respected educational foundation, we’re positioned to offer enhanced value to practices dedicated to complete dentistry.”

Dental Revenue and The Dawson Academy will work closely to provide exclusive resources, marketing workshops, and support to dental professionals, equipping them with the skills and tools to grow their practices while staying true to the principles of complete, patient-centered care.

About Dental Revenue

Dental Revenue specializes in high-ROI digital marketing solutions tailored for dental practices. With a commitment to patient-centered growth, Dental Revenue provides a suite of services designed to enhance patient acquisition and retention through proven digital marketing strategies, from custom website design to SEO and patient reactivation campaigns.

About The Dawson Academy

The Dawson Academy is a leading provider of advanced education in complete dentistry, dedicated to training dental professionals to achieve high levels of clinical excellence and patient care. With a curriculum focused on the concepts of occlusion, function, and stability, The Dawson Academy helps dentists provide comprehensive and predictable outcomes for their patients.

For Media Inquiries:

For more information on this partnership or to learn more about how Dental Revenue can help your practice, please visit www.dentalrevenue.com or contact Alexa Hiken, Sales & Client Support Specialist, at alexa@dentalrevenue.com

Media Contact

Alexa Hiken, Dental Revenue, 1 4436040805, Alexa@dentalrevenue.com, Www.dentalrevenue.com

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SOURCE Dental Revenue

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Technology

Orion Innovation Names Brian Bronson Chief Executive Officer

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Technology Industry Executive and Leader to Drive Next Phase of Company Growth

EDISON, N.J., Nov. 14, 2024 /PRNewswire/ — Orion Innovation (“Orion”), a leading digital transformation and product development services firm, today announced the appointment of Brian Bronson as Chief Executive Officer, effective immediately. With over 25 years of leadership experience across global technology sectors, Bronson will lead Orion’s next phase of growth and transformation, focusing on expanding the company’s digital capabilities and market presence. Brian succeeds Raj Patil, who will transition to an advisory role with the company and One Equity Partners.

“Brian’s impressive track record of driving profitable growth and leading large-scale organizational transformation makes him the ideal leader for Orion’s next chapter,” said Carlo Padovano, Partner at One Equity Partners and Lead Director of Orion Innovation. “His deep expertise in product engineering, GenAI adoption, and digital transformation perfectly aligns with our vision for Orion’s future.

On behalf of the Orion Board, I’d like to thank Raj for his leadership and dedication in helping develop Orion into a market leader. Raj will transition to an advisory role with the company and One Equity Partners.”

“I’m honored to take on this role and excited about the tremendous opportunities ahead for Orion,” said Bronson. “The company has built an impressive foundation with a blue-chip roster of clients, a global delivery platform, and a talented team with deep domain and engineering expertise. I look forward to working closely with our employees, clients, and partners as we deliver transformative solutions to our clients, drive innovation, and scale our capabilities.”

Before joining Orion, Brian served as EVP of US Telecom, Media, and Entertainment at Capgemini. Additionally, he led the integration and execution of Capgemini’s global engineering services business across the Americas and Asia. This included driving growth in many industries leveraging innovative capabilities tied to 5G, connectivity, and software product engineering. Previously, as President & CEO of Radisys, a leading provider of open telecom solutions, he led the company’s strategic transformation from a hardware company to a provider of cutting-edge software and enabling technologies for the telecom, technology, and medical industries. This transformation culminated in the sale of Radisys to Reliance Industries in 2018, marking a successful exit for the company.

About Orion Innovation

Orion Innovation (“Orion”) is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale, and maturity, its team of approximately 6,400 associates helps Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, EMEA, India and Latin America, Orion serves clients across Telecom, Media & Technology, Sports & Entertainment, Professional Services, Financial Services, and Healthcare industries. For more information, visit www.orioninc.com

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

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