Technology
IAS Reports Third Quarter 2024 Financial Results
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Total revenue increased 11% to $133.5 million
Net income of $16.1 million at a 12% margin; adjusted EBITDA increased to $50.6 million at a 38% margin
NEW YORK, Nov. 12, 2024 /PRNewswire/ — Integral Ad Science Holding Corp. (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced financial results for the third quarter ended September 30, 2024.
“We increased revenue at a double-digit rate in the third quarter, driven by our industry-leading products and the contribution from new customers, with strong adjusted EBITDA performance,” said Lisa Utzschneider, CEO of IAS. “We are excited about several new logo wins and the C-level executives we have added to our team. Our focus remains on driving product innovation and leveraging AI to deliver superior value for our customers. We were delighted to announce our first-to-market optimization solution for Meta in October.”
Third Quarter 2024 Financial Highlights
Total revenue was $133.5 million, an 11% increase compared to $120.3 million in the prior-year period.Optimization revenue was $61.1 million, a 7% increase compared to $57.0 million in the prior-year period.Measurement revenue was $52.9 million, an 11% increase compared to $47.8 million in the prior-year period.Publisher revenue was $19.5 million, a 26% increase compared to $15.5 million in the prior-year period.International revenue, excluding the Americas, was $40.8 million, an 11% increase compared to $36.9 million in the prior-year period, or 31% of total revenue for the third quarter of 2024.Gross profit was $106.2 million, a 12% increase compared to $94.7 million in the prior-year period. Gross profit margin was 80% for the third quarter of 2024.Net income was $16.1 million, or $0.10 per share, compared to a net loss of $13.7 million, or $0.09 per share, in the prior-year period. Net income margin was 12% for the third quarter of 2024.Adjusted EBITDA* was $50.6 million, a 25% increase compared to $40.6 million in the prior-year period. Adjusted EBITDA* margin was 38% for the third quarter of 2024.Cash and cash equivalents were $57.1 million at September 30, 2024.
Recent Business Highlights
C-Level Appointments – In September, IAS announced that Marc Grabowski was appointed as Chief Operating Officer from his previous role as Global VP of Oracle Advertising. Srishti Gupta joined as Chief Product Officer from Rokt where she served as Chief Product Officer. She was previously Director of Ads Measurement at Amazon.First-to-Market Meta Optimization Solution – In October, IAS announced the testing of first-to-market availability pre-bid optimization solutions for IAS’s current advertisers on Meta. Social Optimization for Content Block Lists enable advertisers to ensure that better impressions are delivered to brand suitable ad adjacencies. This solution empowers advertisers with proactive pre-screen capabilities at the content level on Facebook and Instagram.TikTok Partnership Expansion – In October, IAS expanded its Total Media Quality (TMQ) offering for TikTok to include viewability, invalid traffic, and brand safety and suitability measurement for advertisers across TikTok’s newly available ad placements within the Profile, Search, Following Feeds and TikTok Lite.Misinformation Detection Launch on YouTube – In September, IAS announced the expansion of its TMQ offering on YouTube to include its industry-aligned misinformation brand safety and suitability reporting for advertisers running campaigns across YouTube ad inventory. IAS can now detect content across YouTube that it identifies as misinformation, enabling advertisers to further verify the safety and suitability of their digital media investments on YouTube.Google Ad Manager Partnership – In November, IAS announced the launch of IAS Curation with Google Ad Manager. IAS now offers programmatic buyers a deal-based enrichment pathway designed to curate inventory at the source. IAS Curation empowers advertisers with actionable data to activate avoidance and contextual targeting strategies across media buys at scale for Google Ad Manager.Quality Attention Expansion to Publishers and SSPs – In October, IAS announced the availability of Quality Attention for publishers and sell-side platforms (SSPs). IAS’s Quality Attention metrics and scores, previously available only to advertisers, help publishers improve yield optimization and drive revenue opportunities.
Financial Outlook
“We reported revenue growth of 11% and an adjusted EBITDA margin of 38% for the period,” said Tania Secor, CFO of IAS. “With healthy cash flows and low debt, we will continue to invest in the business to support our growth. Our updated financial outlook for the full year reflects our third quarter performance and anticipated advertising demand in the fourth quarter.”
IAS is providing the following financial outlook for the fourth quarter of 2024 and updating its full year 2024 revenue and adjusted EBITDA outlook:
Fourth Quarter Ending December 31, 2024:
Total revenue of $148 million to $150 millionAdjusted EBITDA* of $55 million to $57 million
Year Ending December 31, 2024:
Total revenue of $525 million to $527 millionAdjusted EBITDA* of $185 million to $187 million
* See “Supplemental Disclosure Regarding Non-GAAP Financial Information” section herein for an explanation of these measures. IAS is unable to provide a reconciliation for forward-looking guidance of adjusted EBITDA and corresponding margin to net income (loss), the most closely comparable GAAP measures without unreasonable effort, because certain material reconciling items, such as depreciation and amortization, interest expense, income tax expense (benefit) and acquisition, restructuring and integration expenses, cannot be estimated due to factors outside of IAS’s control and could have a material impact on the reported results. However, IAS estimates stock-based compensation expense for the fourth quarter of 2024 in the range of $15 million to $16 million and for the full year 2024 in the range of $62 million to $63 million.
INTEGRAL AD SCIENCE HOLDING CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE DATA)
September 30,
2024
December 31,
2023
ASSETS
Current assets:
Cash and cash equivalents
$ 57,085
$ 124,759
Restricted cash
170
54
Accounts receivable, net
81,168
74,609
Unbilled receivables
48,421
46,548
Prepaid expenses and other current assets
38,030
18,959
Total current assets
224,874
264,929
Property and equipment, net
4,077
3,769
Internal use software, net
51,546
40,301
Intangible assets, net
150,618
178,908
Goodwill
675,538
675,282
Operating lease right-of-use assets
20,472
21,668
Deferred tax asset, net
2,544
2,465
Other long-term assets
5,029
4,402
Total assets
$ 1,134,698
$ 1,191,724
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses
$ 48,874
$ 72,232
Operating lease liability
10,242
9,435
Due to related party
2
121
Deferred revenue
1,454
682
Total current liabilities
60,572
82,470
Deferred tax liability, net
4,989
20,367
Long-term debt, net
64,073
153,725
Operating lease liabilities, non-current
16,391
19,523
Other long-term liabilities
6,186
6,183
Total liabilities
152,211
282,268
Commitments and Contingencies (Note 13)
Stockholders’ Equity
Preferred Stock, $0.001 par value, 50,000,000 shares authorized at September 30, 2024;
0 shares issued and outstanding at September 30, 2024 and December 31, 2023.
–
–
Common Stock, $0.001 par value, 500,000,000 shares authorized, 161,955,151 and
158,757,620 shares issued and outstanding at September 30, 2024 and December 31,
2023, respectively.
162
159
Additional paid-in-capital
952,123
901,259
Accumulated other comprehensive loss
(1,276)
(916)
Retained earnings
31,478
8,954
Total stockholders’ equity
982,487
909,456
Total liabilities and stockholders’ equity
$ 1,134,698
$ 1,191,724
INTEGRAL AD SCIENCE HOLDING CORP.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)
Three Months Ended September 30,
Nine Months Ended September 30,
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)
2024
2023
2024
2023
Revenue
$ 133,528
$ 120,331
$ 377,063
$ 340,074
Operating expenses:
Cost of revenue (excluding depreciation and amortization
shown below)
27,373
25,599
80,628
71,100
Sales and marketing
30,144
29,604
91,541
87,566
Technology and development
16,840
17,211
52,305
53,850
General and administrative
25,348
22,611
71,407
85,673
Depreciation and amortization
16,243
14,027
47,032
40,373
Foreign exchange (gain) loss, net
(2,607)
2,078
(723)
931
Total operating expenses
113,341
111,130
342,190
339,493
Operating income
20,187
9,201
34,873
581
Interest expense, net
(1,325)
(3,109)
(4,787)
(9,747)
Net income (loss) before income taxes
18,862
6,092
30,086
(9,166)
(Provision) benefit for income taxes
(2,773)
(19,841)
(7,562)
6,240
Net income (loss)
$ 16,089
$ (13,749)
$ 22,524
$ (2,926)
Net income (loss) per share – basic and diluted
$ 0.10
$ (0.09)
$ 0.14
$ (0.02)
Weighted average shares outstanding:
Basic
161,663,506
157,055,904
160,528,610
157,691,005
Diluted
165,084,108
157,055,904
164,635,076
157,691,005
Other comprehensive income (loss):
Foreign currency translation adjustments
892
(1,717)
(360)
(789)
Total comprehensive income (loss)
$ 16,981
$ (15,466)
$ 22,164
$ (3,715)
Stock-Based Compensation
(UNAUDITED)
Three Months Ended
September 30,
Nine Months Ended
September 30,
(IN THOUSANDS)
2024
2023
2024
2023
Cost of revenue
$ 80
$ 118
$ 286
$ 328
Sales and marketing
4,829
5,714
14,002
17,859
Technology and development
4,941
2,902
14,139
13,434
General and administrative
6,593
5,166
18,758
34,020
Total stock-based compensation
$16,443
$13,900
$47,185
$65,641
INTEGRAL AD SCIENCE HOLDING CORP.
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(UNAUDITED)
Three Months Ended September 30, 2024
Common Stock
(IN THOUSANDS, EXCEPT SHARES)
Shares
Amount
Additional
paid-in
capital
Accumulated
other
comprehensive
loss
Retained
earnings
Total
stockholders’
equity
Balance, June 30, 2024
160,786,740
$ 161
$934,194
$ (2,168)
$ 15,389
$ 947,576
RSUs and MSUs vested
995,796
1
–
–
–
1
ESPP purchase
172,615
–
1,478
–
–
1,478
Stock-based compensation
–
–
16,451
–
–
16,451
Foreign currency translation adjustment
–
–
–
892
–
892
Net income
–
–
–
–
16,089
16,089
Balance, September 30, 2024
161,955,151
$ 162
$952,123
$ (1,276)
$ 31,478
$ 982,487
Nine Months Ended September 30, 2024
Common Stock
(IN THOUSANDS, EXCEPT SHARES)
Shares
Amount
Additional
paid-in
capital
Accumulated
other
comprehensive
loss
Retained
earnings
Total
stockholders’
equity
Balance, December 31, 2023
158,757,620
$ 159
$901,259
$ (916)
$ 8,954
$ 909,456
RSUs and MSUs vested
2,827,628
3
–
–
–
3
Option exercises
44,049
–
313
–
–
313
ESPP purchase
325,854
–
3,373
–
–
3,373
Stock-based compensation
–
–
47,178
–
–
47,178
Foreign currency translation adjustment
–
–
–
(360)
–
(360)
Net income
–
–
–
–
22,524
22,524
Balance, September 30, 2024
161,955,151
$ 162
$952,123
$ (1,276)
$ 31,478
$ 982,487
Three Months Ended September 30, 2023
Common Stock
(IN THOUSANDS, EXCEPT SHARES)
Shares
Amount
Additional
paid-in
capital
Accumulated
other
comprehensive
loss
Retained
earnings
(accumulated
deficit)
Total
stockholders’
equity
Balance, June 30, 2023
156,279,075
$ 156
$867,490
$ (1,971)
$ 12,539
$ 878,214
RSUs and MSUs vested
1,102,702
1
–
–
–
1
Option exercises
53,748
1
590
–
–
591
ESPP purchase
162,406
–
1,424
–
–
1,424
Stock-based compensation
–
–
13,882
–
–
13,882
Foreign currency translation adjustment
–
–
–
(1,717)
–
(1,717)
Net loss
–
–
–
–
(13,749)
(13,749)
Balance, September 30, 2023
157,597,931
$ 158
$883,386
$ (3,688)
$ (1,210)
$ 878,646
Nine Months Ended September 30, 2023
Common Stock
(IN THOUSANDS, EXCEPT SHARES)
Shares
Amount
Additional
paid-in
capital
Accumulated
other
comprehensive
loss
Retained
earnings
(accumulated
deficit)
Total
stockholders’
equity
Balance, December 31, 2022
153,990,128
$ 154
$810,186
$ (2,899)
$ 775
$ 808,216
RSUs and MSUs vested
2,692,984
3
–
–
–
3
Option exercises
641,250
1
5,583
–
–
5,584
ESPP purchase
273,569
–
2,306
–
–
2,306
Stock-based compensation
–
–
65,311
–
–
65,311
Foreign currency translation adjustment
–
–
–
(789)
–
(789)
Adoption of ASC 326, net of tax
–
–
–
–
941
941
Net loss
–
–
–
–
(2,926)
(2,926)
Balance, September 30, 2023
157,597,931
$ 158
$883,386
$ (3,688)
$ (1,210)
$ 878,646
INTEGRAL AD SCIENCE HOLDING CORP.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
Nine Months Ended September 30,
(IN THOUSANDS)
2024
2023
Cash flows from operating activities:
Net income (loss)
$22,524
$ (2,926)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
47,032
40,373
Stock-based compensation
47,185
65,641
Foreign currency (gain) loss, net
(1,775)
571
Deferred tax benefit
(15,457)
(17,974)
Amortization of debt issuance costs
348
348
Allowance for credit losses
949
2,223
Impairment of assets
37
–
Changes in operating assets and liabilities:
Increase in accounts receivable
(7,028)
(19,936)
Increase in unbilled receivables
(1,723)
(370)
(Increase) decrease in prepaid expenses and other current assets
(18,668)
5,851
(Increase) decrease in operating leases, net
(1,169)
139
Increase in other long-term assets
(696)
(27)
(Decrease) increase in accounts payable and accrued expenses and other long-term liabilities
(21,958)
148
Increase in deferred revenue
768
150
Decrease in due to/from related party
(119)
(93)
Net cash provided by operating activities
50,250
74,118
Cash flows from investing activities:
Purchase of property and equipment
(1,594)
(1,954)
Development of internal use software and other
(28,868)
(23,539)
Net cash used in investing activities
(30,462)
(25,493)
Cash flows from financing activities:
Proceeds from the Revolver
–
75,000
Repayment of long-term debt
(90,000)
(125,000)
Proceeds from exercise of stock options
313
5,584
Cash received from Employee Stock Purchase Program
2,329
2,236
Net cash used in financing activities
(87,358)
(42,180)
Net (decrease) increase in cash, cash equivalents, and restricted cash
(67,570)
6,445
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(113)
(1,330)
Cash, cash equivalents and restricted cash at beginning of period
127,290
89,671
Cash, cash equivalents, and restricted cash, at end of period
$59,607
$ 94,786
Supplemental Disclosures:
Net cash paid during the period for:
Interest
$ 4,613
$ 8,880
Taxes
$29,942
$ 10,361
Non-cash investing and financing activities:
Property and equipment acquired included in accounts payable
$ 47
$ 17
Internal use software acquired included in accounts payable
$ 966
$ 1,012
Lease liabilities arising from right of use assets
$ 6,110
$ 4,832
Supplemental Disclosure Regarding Non-GAAP Financial Information
We use supplemental measures of our performance, which are derived from our consolidated financial information, but which are not presented in our consolidated financial statements prepared in accordance with GAAP. Adjusted EBITDA is the primary financial performance measure used by management to evaluate our business and monitor ongoing results of operations. Adjusted EBITDA is defined as income before depreciation and amortization, stock-based compensation, interest expense, income taxes, acquisition, restructuring and integration costs, foreign exchange gain, net, asset impairments, and other one-time, non-recurring costs. Adjusted EBITDA margin represents the adjusted EBITDA for the applicable period divided by the revenue for that period presented in accordance with GAAP.
We use non-GAAP financial measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management to better understand our consolidated financial performance from period to period and better project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures. Moreover, we believe these non-GAAP financial measures provide our shareholders with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. Although we believe these measures are useful to investors and analysts for the same reasons they are useful to management, as discussed below, these measures are not a substitute for, or superior to, U.S. GAAP financial measures or disclosures. Our non-GAAP financial measures may not be comparable to similarly titled measures of other companies. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently than we do, limiting the usefulness of those measures for comparative purposes.
Reconciliations of historical adjusted EBITDA to its most directly comparable GAAP financial measure, net income/loss, are presented below. We encourage you to review the reconciliations in conjunction with the presentation of the non-GAAP financial measures for each of the periods presented. In future fiscal periods, we may exclude such items and may incur income and expenses similar to these excluded items.
Reconciliation of Adjusted EBITDA
Three Months Ended
September 30,
Nine Months Ended
September 30,
(IN THOUSANDS, EXCEPT PERCENTAGES)
2024
2023
2024
2023
Net income (loss)
$ 16,089
$(13,749)
$ 22,524
$ (2,926)
Depreciation and amortization
16,243
14,027
47,032
40,373
Stock-based compensation
16,443
13,900
47,185
65,641
Interest expense, net
1,325
3,109
4,787
9,747
Provision (benefit) for income taxes
2,773
19,841
7,562
(6,240)
Acquisition, restructuring and integration costs
290
1,353
1,465
2,974
Foreign exchange (gain) loss, net
(2,607)
2,078
(723)
931
Asset impairments and other costs
90
11
90
1,517
Adjusted EBITDA
$ 50,646
$ 40,570
$129,922
$112,017
Revenue
$133,528
$120,331
$377,063
$340,074
Net income (loss) margin
12 %
(11) %
6 %
(1) %
Adjusted EBITDA margin
38 %
34 %
34 %
33 %
Conference Call and Webcast Information
IAS will host a conference call and live webcast to discuss its third quarter 2024 financial results today at 5:00 p.m. ET. To access the live webcast and conference call dial-in, please register under the “News & Events” section of IAS’s investor relations website. A replay will be available on IAS’s investor relations website following the live call: https://investors.integralads.com.
About Integral Ad Science
Integral Ad Science (IAS) is a leading global media measurement and optimization platform that delivers the industry’s most actionable data to drive superior results for the world’s largest advertisers, publishers, and media platforms. IAS’s software provides comprehensive and enriched data that ensures ads are seen by real people in safe and suitable environments, while improving return on ad spend for advertisers and yield for publishers. Our mission is to be the global benchmark for trust and transparency in digital media quality. For more information, visit integralads.com.
Forward-Looking Statements
This earnings press release contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance, including guidance, and business, including pipeline and industry trends. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. For example, all statements we make relating to our estimated and projected costs, profitability, expenditures, cash flows, growth rates and financial results or our plans and objectives for future operations, growth initiatives or strategies, including pursuing business from Oracle or other competitors are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: (i) the adverse effect on our business, operating results, financial condition, and prospects from various macroeconomic factors, including instability in geopolitical or market conditions; (ii) our failure to innovate or make the right investment decisions; (iii) our ability to provide digital or cross-platform analytics; (iv) our failure to maintain or achieve industry accreditation standards; (v) our dependence on integrations with advertising platforms, demand side providers (“DSPs”) and proprietary platforms that we do not control; (vi) our ability to compete successfully with our current or future competitors in an intensely competitive market, including with respect to the Oracle opportunity; (vii) our inability to use software licensed from third parties; (viii) our international expansion; (ix) our ability to expand into new channels; (x) our ability to sustain our profitability and revenue growth rate; (xi) risks that our customers do not pay or choose to dispute their invoices; (xii) risks of material changes to revenue share agreements with certain DSPs; (xiii) our dependence on the overall demand for advertising; (xiv) our ability to effectively manage our growth; (xv) the impact that any acquisitions we have completed in the past and may consummate in the future, strategic investments, or alliances may have on our business, financial condition, and results of operations; (xvi) our ability to successfully execute our international plans; (xvii) the risks associated with the seasonality of our market; (xviii) our ability to maintain high impression volumes; (xix) the difficulty in evaluating our future prospects given our short operating history; (xx) uncertainty in how the market for buying digital advertising verification solutions will evolve; (xxi) interruption by man-made problems such as terrorism, computer viruses, or social disruptions; (xxii) the risk of failures in the systems and infrastructure supporting our solutions and operations; (xxiii) our ability to avoid operational, technical, and performance issues with our platform; (xxiv) risks associated with any unauthorized access to user, customer, or inventory and third-party provider data; (xxv) our ability to provide the non-proprietary technology, software, products, and services that we use; (xxvi) the risk that we are sued by third parties for alleged infringement, misappropriation, or other violation of their proprietary rights; (xxvii) our ability to obtain, maintain, protect, or enforce intellectual property and proprietary rights that are important to our business; (xxviii) our involvement in lawsuits to protect or enforce our intellectual property; (xxix) risks that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers; (xxx) risks that our trademarks and trade names are not adequately protected; (xxxi) the impact of unforeseen changes to privacy and data protection laws and regulation on digital advertising; (xxxii) our ability to maintain our corporate culture; (xxxiii) public health outbreaks, epidemics, pandemics, or other public health crises; (xxxiv) risks posed by earthquakes, fires, floods, and other natural catastrophic events; (xxxv) the risk that a perceived failure to comply with laws and industry self-regulation may damage our reputation; and (xxxvi) other factors disclosed in our filings with the SEC. Given these factors, as well as other variables that may affect our operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods.
We derive many of our forward-looking statements from our operating budgets and forecasts, which are based on many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect our actual results. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to update or revise any forward- looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Investor Contact:
Jonathan Schaffer
ir@integralads.com
Media Contact:
press@integralads.com
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SOURCE Integral Ad Science, Inc.
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Xinhua Silk Road: World IoT expo 2024 opens in E. China’s Wuxi to showcase future of smart connectivity
Published
29 minutes agoon
November 14, 2024By
BEIJING, Nov. 14, 2024 /PRNewswire/ — The World Internet of Things (IoT) Exposition 2024 kicked off on Monday in Wuxi City of east China’s Jiangsu Province, attracting industry leaders, representatives of enterprises and experts from across the globe to discuss industry trends and demonstrate innovative applications.
At the expo’s opening ceremony, Wuxi unveiled a national pilot project in intelligent connected vehicles, which aims to create a cohesive mode for car owners, vehicles and cities connection, contributing Wuxi’s expertise to smart vehicle initiatives.
Additionally, a new smart sensing chip engineering center was launched, representing an investment of over 1 billion yuan and focusing on high-density large-scale substrates and other advanced chip technologies to strengthen the city’s integrated circuit development.
The event also saw the release of several major IoT research achievements, including the 2024 IoT innovation development Taihu index and the 2024 white paper on advanced sensing technology and applications.
The three-day event features exhibitions, panel discussions, and thematic sessions that showcase the latest development in IoT innovations and applications. This year’s expo is poised to drive Wuxi’s high-quality growth in IoT while promoting global tech collaboration and knowledge sharing in the IoT field.
Wuxi has become a navigator of the IoT industry in China. The latest statistics show that in 2023, the scale of the IoT industrial cluster in Wuxi surpassed 450 billion yuan, taking the lead in Jiangsu Province.
Original link: https://en.imsilkroad.com/p/343117.html
SOURCE Xinhua Silk Road
Technology
Agoda Highlights Five Urban Hikes for Adventurous Travelers
Published
29 minutes agoon
November 14, 2024By
SINGAPORE, Nov. 14, 2024 /PRNewswire/ — Digital travel platform Agoda introduces five urban hikes across Asia, offering travelers a chance to experience the perfect blend of city life and nature. These hikes, ranging from family-friendly to more challenging trails, provide an unmatched perspective on some of Asia’s most dynamic cities.
Whether it’s Elephant Hill in Taipei, with its stunning views of the Taipei 101, or Hong Kong’s famous Dragon Back, active travelers are in for a treat when embarking on these city hike adventures.
Andrew Smith, Senior Vice President, Supply at Agoda said: “Asia is special to have so many incredible hike routes right in the heart of these popular cities. The five highlighted hikes are just a sample of the many breathtaking city trails the continent has to offer. Adventurous travelers will want to try them all and thankfully Agoda helps make travel affordable with great value deals on over 4.5 million properties globally.”
These are the five city hikes, ranked from easiest to most challenging:
Kuala Lumpur’s Bukit Nanas Forest Reserve offers a unique experience of trekking through a tropical rainforest right in the city center. The trail is relatively easy, with well-marked paths and informative signboards about the local flora and fauna, making it a great choice for families and nature enthusiasts.
Elephant Hill in Taipei offers a short but rewarding climb. The trail is well-maintained and provides stunning views of Taipei’s skyline, including the famous Taipei 101. It’s an ideal spot for those looking to enjoy a quick escape into nature without straying far from the city.
In Singapore, the Southern Ridges trail offers a moderate hike through a series of interconnected parks and gardens. Spanning 10 kilometers, this trail provides a lush green corridor amidst the urban environment, with highlights including the Henderson Waves bridge and panoramic views of the city.
Namsan in Seoul presents a slightly more challenging hike, leading to the N Seoul Tower. The trail is popular among locals and tourists alike, offering a mix of natural beauty and cultural landmarks, with several routes to choose from depending on the desired difficulty level.
Finally, Hong Kong’s Dragon’s Back is a favorite for its breathtaking views of the coastline and the South China Sea. This moderately challenging hike is known for its undulating ridges and scenic vistas, providing a rewarding experience for those willing to tackle its ups and downs.
In each of these city hike destinations, Agoda offers great value accommodation. In addition to holiday properties, Agoda’s 130,000 flight routes and 300,000 activities ensure the platform is the one-stop travel solution to help booking an entire trip. The latest Agoda deals can be found in the Agoda app or on agoda.com/deals.
— ENDS —
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SOURCE Agoda
Gentoo Media – Mandatory notification of trade
Xinhua Silk Road: World IoT expo 2024 opens in E. China’s Wuxi to showcase future of smart connectivity
Agoda Highlights Five Urban Hikes for Adventurous Travelers
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