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SU Group Holdings Reports 11% Revenue Growth For Fiscal Year 2024

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8.7% Increase in Net Income Year over YearStrengthened Balance Sheet to Support Growth Initiatives

HONG KONG, Jan. 28, 2025 /PRNewswire/ — SU Group Holdings Limited (Nasdaq: SUGP) (“SU Group” or the “Company”), an integrated security-related engineering services company in Hong Kong, today announced financial results for the fiscal year ended September 30, 2024, led by strong growth in revenue and net income, as compared to the fiscal year ended September 30, 2023. All U.S. dollar figures cited in this press release are based on the exchange rate of HK$7.7733 against US$1.00 as of September 30, 2024.

Select Financial Highlights:

For the fiscal year ended September 30, 2024, SU Group reported an 11.3% increase in revenue on a year over year basis, led by growth in the security-related engineering services business, which increased 9.0% on a year over year basis.Net income increased by 8.7% on a year over year basis to HK$10.7 million (US$1.4 million) for the fiscal year ended September 30, 2024, with net income per share (basic and diluted) increasing to HK$0.82 from HK$0.81 on a year over year basis.

SU Group’s Chairman and CEO, Dave Chan, commented, “We are driving consistent revenue growth and business expansion as we build on our strong competitive position. Our successful initial public offering on the Nasdaq market helped fortify our balance sheet and is allowing us to accelerate strategic investments that will ensure our long-term success, including hiring additional security experts and investing in advanced security technologies like our proven AI-aided security solutions. Our specialized focus and ability to closely support customers can be seen in several landmark wins we have announced, including our support of one Asia’s largest airlines and one of Hong Kong’s leading higher education institutions. These customers serve as high-profile references, showcasing our efficiency, reliability, and versatility. Overall, we are pleased with our progress but believe we are still in the very early stages of what we can achieve as we continue to execute on our business and build long-term value for shareholders.”

SU Group’s Chief Financial Officer, Calvin Kong, noted, “We drove a near 9% increase in net income for the fiscal year 2024, reflecting our strong revenue growth and execution on operational efficiency. We remain diligent in our operating expense management, focused on expanding cash flow and committed to investing in support of our customers. We have established a solid foundation for accelerated growth, with the financial strength to scale our business in both Hong Kong and previously untapped geographic markets as we look to build on our momentum and leadership position moving forward.”

SU Group Holdings Limited (Nasdaq: SUGP) provides security-related engineering services and security guarding and screening services:

Security-related engineering services: The Company offers security-related engineering services to customers, including providing (i) security systems and products, provision of installation, and related maintenance services; (ii) security systems and products only; or (iii) maintenance services only. In addition, SU Group provides equipment rental services to its customers with use of dedicated security-related systems and equipment for contractual periods.Security guarding and screening services: The Company provides security guarding services, by dispatching security guards with corresponding abilities and qualifications on demand, to fulfill the customers’ needs such as securing and guarding physical properties by, among other things, conducting patrols, entrance guarding, access control and alarm monitoring and response such as fire and gas detection, burglary detection and emergency management such as first aid service and communication and evacuation. SU Group also offers security guarding services targeted at crowd coordination and management, and provides security screening services, where its certified screeners work to detect of explosives, incendiary devices in air cargo consignment and dangerous goods for safety purpose through the operation of threat detection systems. In addition, the Company provides a variety of related vocational training courses.

Financial Results for the Fiscal Year Ended September 30, 2024

Revenues increased by 11.3% to HK$182.2 million (US$23.4 million) for the fiscal year ended September 30, 2024 from HK$163.7 million (US$21.0 million) for the fiscal year ended September 30, 2023, primarily due to an increase in revenues from the security-related engineering services business. Revenues from the provision of security-related engineering services increased by 9.0% to HK$107.0 million (US$13.8 million) for the fiscal year ended September 30, 2024 from HK$98.1 million (US$12.5 million) for the fiscal year ended September 30, 2023.

Cost of revenues increased by 16.4% to HK$134.6 million (US$17.3 million) for the fiscal year ended September 30, 2024 from HK$115.6 million (US$14.9 million) for the fiscal year ended September 30, 2023. The increase was in line with the business growth of security-related engineering services and security guarding and screening, as the Company continues to focus on providing a comprehensive portfolio of security products and solutions, along with experienced, tenured employees.

Gross profit decreased slightly by 0.9% to HK$47.6 million (US$6.1 million) for the fiscal year ended September 30, 2024 from HK$48.0 million (US$6.2 million) for the fiscal year ended September 30, 2023, primarily due to the net impact of a decrease in the gross profit margin of security-related engineering services triggered by certain projects completed during the fiscal year ended September 30, 2024, combined with a lower gross profit margin of security guarding services contracts resulting from an increasing labor cost.

Gross profit margin was 26.1% for the fiscal year ended September 30, 2024 compared to 29.3% in the fiscal year ended September 30, 2023. Gross profit margin of project and maintenance income under security-related engineering services decreased to 32.1% for the fiscal year ended September 30, 2024 from 36.4% for the fiscal year ended September 30, 2023. Gross profit margin of equipment leasing income under security-related engineering services decreased to 64.6% for the fiscal year ended September 30, 2024 from 73.9% for the fiscal year ended September 30, 2023. Gross profit margin of security guarding and screening services maintained at a stable level, which was 15.1% for the fiscal year ended September 30, 2024, and 15.2% for the fiscal year ended September 30, 2023.

Selling, general and administrative expenses decreased by 2.1% to HK$36.0 million (US$4.6 million) for the fiscal year ended September 30, 2024, from HK$36.8 million (US$4.7 million) for the fiscal year ended September 30, 2023. The Company achieved the decrease from a reversal of provision for credit loss, while offsetting higher legal and professional fees associated with its initial public offering and being a public company, while also increasing promotional activities and campaigns to penetrate the market.

Losses on the disposal of property and equipment were HK$0.6 million (US$0.1 million) for the fiscal year ended September 30, 2024, compared to HK$0.5 million (US$0.1 million) for the fiscal year ended September 30, 2023.

Our other income decreased by 15.6% to HK$1.2 million (US$0.2 million) for the fiscal year ended September 30, 2024, from HK$1.4 million (US$0.2 million) for the fiscal year ended September 30, 2023. The decrease was mainly due to the decrease in government grants received in relation to COVID-19 to nil for the fiscal year ended September 30, 2024, from HK$0.4 million (US$0.6 million) for the fiscal year ended September 30, 2023.

Income tax expenses decreased by 44.1% to HK$1.3 million (US$0.2 million) for the fiscal year ended September 30, 2024, from HK$2.3 million (US$0.3 million) for the fiscal year ended September 30, 2023. The decrease was mainly due to decrease in income before income tax.

Net income increased by 8.7% to HK$10.7 million (US$1.4 million) for the fiscal year ended September 30, 2024, from HK$9.8 million (US$1.3 million) for the fiscal year ended September 30, 2023, with a net income margin of 6.0% for the fiscal year ended September 30, 2023 and 5.9% for the fiscal year ended September 30, 2024.

Trade receivables, net decreased by 37.5%, to HK$21.9 million (US$2.8 million) as of September 30, 2024, from HK$35.0 million (US$4.5 million) as of September 30, 2023. The decrease of trade receivables was mainly attributable to a general reduction in gross amount of receivables triggered by improving credit collection activities during the fiscal year ended September 30, 2024.

Trade payables decreased by 46.4%, to HK$8.6 million (US$1.1 million) as of September 30, 2024, from HK$16.1 million (US$2.1 million) as of September 30, 2023. The decrease was due to more timely settlement of costs of revenues supported by operating cash inflow.

Inventories increased by 16.4% to HK$47.6 million (US$6.1 million) as of September 30, 2024, from HK$40.9 million (US$5.3 million) as of September 30, 2023. The increase of inventories was mainly due to an increase in work-in-progress since there are more ongoing projects and thus more project costs being incurred and transferred to work-in-progress. The increase is consistent with our business growth and the increase in revenues.

Capital expenditures were HK$3.2 million (US$0.4 million) the fiscal year ended September 30, 2024, compared to HK$1.4 million (US$0.2 million) for the fiscal year ended September 30, 2023, with the increase primarily related to the acquisition of equipment and computer software to meet expected business growth.

For the fiscal year ended September 30, 2024, net cash provided by operating activities was HK$14.1 million (US$1.8 million) with net cash provided by financing activities of HK$25.2 million (US$3.2 million), compared to net cash used in operating activities of HK$13.5 million (US$1.7 million) and net cash used in financing activities of HK$4.8 million (US$0.6 million) for the fiscal year ended September 30, 2023.

The Company had a balance of cash and cash equivalents of HK$52.3 million (US$6.7 million) with working capital of approximately HK$82.1 million (US$10.6 million), as of September 30, 2024.

About SU Group Holdings Limited

SU Group (Nasdaq: SUGP) is an integrated security-related services company that primarily provides security-related engineering services, security guarding and screening services, and related vocational training services in Hong Kong. Through its subsidiaries, SU Group has been providing turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems for over two decades. The security systems that SU Group provides services include threat detection systems, traffic and pedestrian control systems, and extra-low voltage systems in private and public sectors, including commercial properties, public facilities, and residential properties in Hong Kong. For more information visit www.sugroup.com.hk.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to renew contracts with recurring customers; the Company’s ability to secure new contracts; the Company’s ability to accurately estimate risks and costs and perform contracts based on the Company’s estimates; the Company’s relationship with the Company’s suppliers and ability to manage quality issues of the systems; the Company’s ability to obtain or renew the Company’s registrations, licenses, and certificates; the Company’s ability to manage the Company’s subcontractors; the labor costs and the general condition of the labor market; the Company’s ability to compete effectively; the Company’s ability to successfully manage the Company’s capacity expansion and allocation in response to changing industry and market conditions; implementation of the Company’s expansion plans and the Company’s ability to obtain capital resources for planned growth; the Company’s ability to acquire sufficient products and obtain equipment and services from the Company’s suppliers in suitable quantity and quality; the Company’s dependence on key personnel; the Company’s ability to expand into new businesses, industries, or internationally and to undertake mergers, acquisitions, investments, or divestments; changes in technology and competing products; general economic and political conditions, including those related to the security-related engineering services industry; possible disruptions in commercial activities caused by events such as natural disasters, terrorist activities, political, economic, and social instability, and fluctuations in foreign currency exchange rates, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”), including the Company’s most recently filed Annual Report on Form 20-F and its subsequent filings. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

(Financial Tables Follow)

SU GROUP HOLDINGS LIMITED

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per share data)

For the Years Ended September 30,

2023

2024

2024

HK$

HK$

US$

Revenues

163,690,966

182,164,539

23,434,647

Cost of revenues

(115,648,013)

(134,568,099)

(17,311,579)

Gross profit

48,042,953

47,596,440

6,123,068

Operating expenses

Selling, general and administrative expenses

(36,805,428)

(36,028,548)

(4,634,910)

Losses on disposal of property and equipment

(485,957)

(636,289)

(81,856)

Income from operations

10,751,568

10,931,603

1,406,302

Other income (expenses)

Other income

1,445,506

1,219,376

156,867

Finance expenses

(55,080)

(189,749)

(24,410)

Other expenses

Total other income, net

1,390,426

1,029,627

132,457

Income before income tax expenses

12,141,994

11,961,230

1,538,759

Income tax expenses

(2,338,850)

(1,307,742)

(168,235)

Net income

9,803,144

10,653,488

1,370,524

Less: Net income attributable to non-controlling interests

(105,775)

Net income attributable to SU Group Holdings Limited’s ordinary shareholders

9,697,369

10,653,488

1,370,524

Net income per share

Basic and diluted

0.81

0.82

0.11

Weighted average number of shares

Basic and diluted

12,000,000

13,027,752

13,027,752

 

SU GROUP HOLDINGS LIMITED

CONSOLIDATED BALANCE SHEETS

As of September 30,

2023

2024

2024

HK$

HK$

US$

Assets

Current assets

Cash and cash equivalents

16,400,123

52,338,132

6,733,065

Trade receivables, net

34,978,153

21,851,480

2,811,094

Inventories

40,919,214

47,613,381

6,125,247

Prepaid expenses and other current assets

1,590,259

5,013,876

645,011

Contract assets, net

3,187,403

6,443,947

828,985

Prepaid income tax

2,066,219

265,810

Total current assets

97,075,152

135,327,035

17,409,212

Non-current assets

Property and equipment, net

8,405,563

8,886,235

1,143,174

Intangible assets, net

144,879

268,500

34,541

Goodwill

1,271,160

1,271,160

163,529

Prepaid expenses and other non-current assets

4,462,823

574,122

Deferred offering expenses

3,853,500

Operating lease right-of-use assets, net

1,113,926

5,496,985

707,162

Investment in key management insurance policy

1,157,520

1,157,520

148,910

Deferred tax assets

1,418,419

207,702

26,720

Total non-current assets

17,364,967

21,750,925

2,798,158

TOTAL ASSETS

114,440,119

157,077,960

20,207,370

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities

Trade payables

16,104,581

8,625,685

1,109,655

Notes payables

3,503,768

2,355,023

302,963

Other payables

2,633,447

3,499,507

450,196

Accrued payroll and welfare

8,228,964

9,040,942

1,163,076

Operating lease liabilities – current

204,156

1,935,187

248,953

Income tax payable

1,058,040

Contract liabilities

22,748,443

27,801,257

3,576,506

Total current liabilities

54,481,399

53,257,601

6,851,349

Non-current liabilities

Operating lease liabilities – non-current

61,229

3,004,974

386,576

Other payables – non-current

996,069

1,340,016

172,387

Deferred tax liabilities

1,468,575

431,717

55,538

Other liabilities

1,008,306

1,321,956

170,064

Total non-current liabilities

3,534,179

6,098,663

784,565

Total liabilities

58,015,578

59,356,264

7,635,914

Commitments and contingencies

Shareholders’ Equity

Ordinary shares (par value of HK$0.01 per share; 750,000,000 ordinary shares authorized and 12,000,000 and 13,647,500 ordinary shares issued and outstanding as of September 30, 2023 and 2024, respectively.)

120,000

136,475

17,557

Shares subscription receivables

(119,990)

(90)

(12)

Additional paid-in capital

14,642,029

46,260,499

5,951,205

Retained earnings

41,782,502

51,324,812

6,602,706

Total SU Group Holdings Limited shareholders’ equity and total shareholders’ equity

56,424,541

97,721,696

12,571,456

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

114,440,119

157,077,960

20,207,370

 

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SOURCE SU Group Holdings Limited

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Cleartrace Launches New Product Suite to Transform Emissions Transparency

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Cleartrace launches a new product suite including a new supplier solution and re-imagined energy buyer offerings, designed to enhance emissions transparency, streamline compliance, and empower energy suppliers with real-time data and analytics for better sustainability management and customer reporting.

AUSTIN, Texas, Jan. 31, 2025 /PRNewswire-PRWeb/ — Cleartrace, a leader in energy and sustainability data management, is proud to announce the launch of its new product suite, which includes a new Supplier solution and re-imagined Buyer offerings. These new solutions are designed to revolutionize how utilities and other energy suppliers manage and measure emissions, enhance transparency, accountability, and sustainability throughout operations—and deliver superior buyer experiences in the process.

“The new Cleartace offerings help drive revenue, mitigate risk, support compliance requirements, and improve operational efficiency at a critical time in the clean energy transition.”

Empowering Companies with Advanced Insights.

The new Cleartrace Supplier solution is tailored to meet the growing demand for actionable data in Scope 2 emissions management and reporting. By integrating seamlessly into Cleartrace’s comprehensive data platform, this solution enables companies to:

Quantify Emissions: Track and measure emissions across operations in a scalable and actionable way.

Enhance Collaboration: Break down siloes so that clean energy teams can actively participate in developing solutions that meet customer needs and increasingly complex transactions.

Streamline Compliance and Reporting: Meet regulatory requirements and align with global standards, including GHG Protocol and Science-Based Targets, as well as advanced procurement strategies like 247 CFE tracking and Impact Based Accounting.

Drive Actionable Sustainability Goals: Leverage precise data to implement targeted strategies and achieve measurable progress in decarbonization efforts.

Address the Operational Challenges of Customer Reporting: As more and more commercial and industrial customers manage and report their Scope 2 emissions and move towards more granular reporting, Cleartrace’s Supplier solution simplifies this complexity by providing utilities and other energy suppliers with:

A centralized, real-time platform for data aggregation that reduces disparate systems and spreadsheets.

Advanced analytics and reporting capabilities to identify high-impact offerings for their customers.

Tools to engage their customers and improve emissions accuracy at scale.

A Suite of offerings to inform and drive customer decarbonization.

Cleartrace’s new solutions underscore its commitment to empowering businesses to create a more sustainable future. By bridging the gap between utilities and other energy suppliers and their customers, Cleartrace fosters a collaborative ecosystem where all stakeholders can contribute to meaningful environmental outcomes.

Leadership Perspective.

Carbon is a new dimension in energy markets beyond price and reliability, presenting complex tracking and management challenges,” said Poormehr Honarmand, Chief Product Officer at Cleartrace. “Our new Supplier and Buyer product suite is built on a scalable, purpose-built platform designed for granular energy and emissions management. We are excited to launch these solutions and are dedicated to rapidly developing innovative offerings to address the industry’s evolving needs and challenges.”

“Many clean energy providers are managing their scope 2 clean energy data in disparate systems and spreadsheets, which leads to huge challenges with data aggregation, organization, tracking of energy and certificate assets, and reporting out to their customers and regulators.” Said Patrick Davis, Chief Commercial Officer at Cleartrace. “The new Cleartace offerings help drive revenue, mitigate risk, support compliance requirements, and improve operational efficiency at a critical time in the clean energy transition.”

About Cleartrace

Cleartrace is a pioneering provider of energy and sustainability data solutions. The company’s platform empowers organizations to measure, manage, and report on their environmental impact with unparalleled precision and confidence. By delivering real-time, auditable data in actionable ways, Cleartrace enables its customers to transform how they achieve their sustainability goals and catalyze change through greater emissions transparency.

Visit cleartrace.io to learn more about Cleartrace and the new Supplier and Buyer solutions.

Media Contact

Patrick Davis, Cleartrace, 1 512-387-6405, patrick.davis@cleartrace.io, www.cleartrace.io

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SOURCE Cleartrace

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Virtual Events Market to Grow by USD 539.5 Million (2025-2029), Rising Corporate Events Boosting Growth, AI Driving Market Evolution – Technavio

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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global virtual events market size is estimated to grow by USD 539.5 million from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  26.1%  during the forecast period. Rise in number of corporate events is driving market growth, with a trend towards growing popularity of virtual events in education. However, emerging threat from open-source virtual events solutions  poses a challenge. Key market players include 8×8 Inc., Active Network LLC, Adobe Inc., ALE International, Atlassian Corp Plc, Avaya LLC, Aventri Inc., Bizzabo, Cadence Design Systems Inc., Cisco Systems Inc., Cvent Holding Corp., EventX Ltd., Huawei Technologies Co. Ltd., Hubb, International Business Machines Corp., Microsoft Corp., Mitel Networks Corp., Toshiba Corp., Ungerboeck, and Zoom Video Communications Inc..

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Virtual Events Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 26.1%

Market growth 2025-2029

USD 539.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

22.6

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 30%

Key countries

US, China, Germany, Japan, Canada, India, UK, France, Italy, and Brazil

Key companies profiled

8×8 Inc., Active Network LLC, Adobe Inc., ALE International, Atlassian Corp Plc, Avaya LLC, Aventri Inc., Bizzabo, Cadence Design Systems Inc., Cisco Systems Inc., Cvent Holding Corp., EventX Ltd., Huawei Technologies Co. Ltd., Hubb, International Business Machines Corp., Microsoft Corp., Mitel Networks Corp., Toshiba Corp., Ungerboeck, and Zoom Video Communications Inc.

Market Driver

The virtual events industry has seen a significant due to lockdowns and the impact of coronavirus. Retail & e-commerce, healthcare, manufacturing, construction, academic institutions, and various sectors are adopting digitally simulated events for sales meetings, job fairs, summits, audio/video conferences, exhibitions, and trade shows. Modern technologies like artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) are driving the trend. Virtual conferences offer networking solutions, hospitality, and collaboration tools for employees and resources. However, challenges include cyberattacks, connectivity network issues, regulations, and compatibility problems. Stable internet connections, streaming platforms, and collaboration tools are essential for successful virtual events. Technological advances like real-time data analytics, on-demand content, interactive virtual environments, and session popularity help make data-driven decisions. The success of events depends on attendee engagement, timing, accessibility, and experience. Virtual simulation platforms offer a cost-effective and accessible solution for global audiences, customers, and partners. Despite challenges, virtual events are here to stay, shaping the future of business proceedings and workflow. 

Virtual events in the education sector are gaining popularity as an effective and cost-efficient means of learning. Traditional educational institutions are incorporating virtual classrooms to offer flexibility in studying, allowing students to attend sessions from anywhere at any time. These sessions, led by qualified educators, provide cost savings and expanded access to knowledge. Virtual events also incorporate game dynamics to maintain student interest and develop essential skills like time management. Conferencing tools facilitate improved interactions between students and faculty, while social media integration enhances networking opportunities. 

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Market Challenges

The virtual events industry has seen a significant due to lockdowns and the impact of coronavirus. Retail & e-commerce, healthcare, manufacturing, construction, academic institutions, and various other sectors have turned to digitally simulated events for business proceedings. Sales meetings, job fairs, summits, audio/video conferences, exhibitions, and trade shows are now being held virtually. However, challenges persist. Connectivity network issues, cyberattacks, regulations, and compatibility problems are major factors affecting virtual events. Employees and resources require stable internet connections and streaming platforms for effective workflow. Technological advances, such as artificial intelligence (AI), augmented reality (AR), and virtual reality (VR), offer interactive virtual environments for networking and collaboration. Time and accessibility are crucial for virtual events, with on-demand content and presentations providing flexibility. Future events will depend on real-time information, data analytics, attendee engagement, and successful outcomes. Event strategies must consider these challenges and leverage modern technologies for successful virtual events.Open-source virtual events present a significant competition for commercial enterprise virtual solutions. These software can be downloaded and utilized on various platforms, making them an attractive option for micro and small-scale enterprises and individual users. The high purchasing and licensing costs of proprietary virtual events often deter these entities from opting for commercial solutions. Open-source virtual events offer common features comparable to proprietary ones, making them a viable choice for small-scale events. Their availability on the internet, free of cost, adds to their appeal. This trend poses a challenge for vendors providing proprietary virtual event management as a service.

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Segment Overview 

This virtual events market report extensively covers market segmentation by  

ApplicationUC And C And VCWeb ConferencingTypeWebinarConferenceVirtual Expo Fairs And FestivalsEntertainmentGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

1.1 UC and C and VC-  Unified communications and collaboration (UC and C) is a business technique that optimizes processes by integrating real-time and non-real-time communications. Real-time communication includes online chatting, instant messaging, video conferencing, telephony, speech recognition, and call control. Non-real-time communication includes voicemail, email, unified messaging, SMS, and fax. UC and C facilitates communication using different modes, media, and devices anywhere and anytime, leading to improved productivity, enhanced communication among employees globally, increased collaboration tools usage, better business process optimization, faster decision-making, and increased employee availability. The virtual events market is witnessing a shift towards video and web conferencing solutions over audio conferencing due to consumer preference. Video conferencing allows real-time two-way communication across geographies and provides full-motion video images and high-quality audio. SMBs are adopting SaaS-based models due to their affordability, and vendors are offering local language support to cater to this segment. UC and C is popular among businesses as it enables real-time collaboration and communication among disparate teams, and the integration of rich video, web, and audio conferencing creates a connected workspace. The market is expected to grow rapidly due to the increasing adoption by SMEs and the BYOD policy trend. SMEs adopt virtual client computing solutions to accelerate processes and virtualize applications and desktops to reduce costs and improve efficiency.

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Research Analysis

The Virtual Events Market has experienced exponential growth in the wake of the global health crisis, with Retail & e-commerce, Healthcare, Manufacturing, Construction, Academic institutions, and various industries adopting digitally simulated events as a viable alternative to traditional in-person gatherings. Sales meetings, job fairs, summits, exhibitions, and trade shows have all transitioned to virtual platforms, enabling businesses to continue their proceedings despite WFH policies and lockdowns. Modern technologies like virtual conference solutions, networking platforms, and AI-powered connectivity networks have become essential resources for employees and businesses to engage, collaborate, and innovate. However, cybersecurity concerns and connectivity issues remain challenges to be addressed in this rapidly evolving landscape. Morressier, a leading virtual conference platform, offers advanced networking solutions and a user-friendly interface to facilitate productive and engaging virtual events.

Market Research Overview

The Virtual Events Market has experienced significant growth due to the global shift towards digitally simulated events in various sectors including Retail & e-commerce, Healthcare, Manufacturing, Construction, Academic institutions, and the Virtual events industry itself. With the impact of lockdowns and the Coronavirus pandemic, sales meetings, job fairs, summits, audio/video conferences, exhibitions, and trade shows have all moved online. Modern technologies like artificial intelligence (AI), augmented reality (AR), and virtual reality (VR) have become major factors in creating interactive virtual environments. However, challenges such as connectivity problems, bandwidth limitations, software glitches, and compatibility issues can affect the success of events. Regulations, cyberattacks, and restrictions on the movement of people also pose challenges. Employees and resources must adapt to business proceedings in a workflow that integrates modern technologies with physically organized events. Networking solutions, collaboration tools, streaming platforms, and online communication have become essential for remote workforces and global audiences. The future of events lies in data-driven decisions based on attendee engagement, session popularity, lead generation, and real-time information. Event strategies must consider timing, accessibility, and the experience of customers and partners, whether they are at home or in offices, and the impact of travel and work on event attendance. Technological advances continue to shape the virtual events landscape, with video conferencing platforms and on-demand content becoming increasingly popular.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationUC And C And VCWeb ConferencingTypeWebinarConferenceVirtual Expo Fairs And FestivalsEntertainmentGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: media@technavio.com
Website: www.technavio.com/

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GetYourLawyer AG sold to private investors – Switzerland’s leading legal tech platform has been acquired by Bastian Manintveld and François Chabat

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GetYourLawyer AG, Switzerland’s pioneering legal tech platform, has been acquired by tech entrepreneurs Bastian Manintveld and François Chabat. This strategic move marks a new chapter in the company’s journey to revolutionize legal and other professional services in Switzerland and beyond.

ZÜRICH, Jan. 31, 2025 /PRNewswire-PRWeb/ — GetYourLawyer AG sold to private investors

Switzerland’s leading legal tech platform has been acquired by Bastian Manintveld and François Chabat.

“The substantial investment in both the technology and the brand has established GetYourLawyer as a trusted name in the Swiss legal tech landscape. We see tremendous opportunities for growth, both in Switzerland and internationally.” – Bastian Manintveld

GetYourLawyer was founded in 2017 by Dominic Rogger, Muriel Voelke and Matthias Isler with the vision of becoming the leading Swiss platform to connect clients and with experienced legal professionals. The company was part of Ringier Axel Springer Schweiz between 2019-2023 when it was bought back by the founders.Manintveld brings extensive experience in digital innovation and business growth, while Chabat, with a PhD in machine learning, plans to leverage AI to drive innovation and streamline legal processes.The new owners aim to broaden the platform’s offerings, expand to European and global markets, and integrate cutting-edge technologies to enhance user experience and accessibility.Website: getyourlawyer.ch/en / Photos: getyourlaywer.ch/presskit

GetYourLawyer AG, Switzerland’s pioneering legal tech platform, has been acquired by tech entrepreneurs Bastian Manintveld and François Chabat. This strategic move marks a new chapter in the company’s journey to revolutionize legal and other professional services in Switzerland and beyond.

Bastian Manintveld, an accomplished entrepreneur with a track record in digital innovation and business growth, brings a wealth of experience to GetYourLawyer. François Chabat, who holds a PhD in machine learning from Imperial College London has a deep understanding of artificial intelligence and its applications in technology will be invaluable in driving innovation within the platform.

“We are incredibly excited about the potential of GetYourLawyer,” said Manintveld. “The original founders were pioneers in digitizing legal services for the Swiss marketplace. They have built an impressive platform. The substantial investment in both the technology and the brand has established GetYourLawyer as a trusted name in the Swiss legal tech landscape. We see tremendous opportunities for growth, both in Switzerland and internationally.”

The new owners envision a multi-faceted expansion strategy that includes broadening the platform’s service offerings, exploring new markets, and leveraging cutting-edge technologies to enhance the user experience. The initial focus will be on scaling the platform’s success in Switzerland to other European countries and beyond.

“GetYourLawyer has immense potential to transform how legal services are accessed and delivered, not just in Switzerland but across Europe,” Chabat added. “We’re eager to leverage cutting-edge AI technologies to streamline legal processes and expand into new verticals and geographical areas.”

The original founders, who have moved on to new ventures, expressed their support for the acquisition and the new vision:

Dominic Rogger, former Chairman of the Board, stated, “We’re confident that Bastian and François will take GetYourLawyer to new heights. Their combined expertise in digital innovation and AI aligns perfectly with our original mission of simplifying access to legal services, and their plans for expansion are truly exciting.”

Muriel Völkle commented, “The platform is in capable hands. I’m particularly impressed with their vision for growth and innovation in the legal tech space.”

Matthias Isler added, “This acquisition is a testament to the hard work our team has put in. The vision for expansion into new areas will undoubtedly benefit both lawyers and clients across Europe.”

The new owners have assured existing clients and staff that the transition will be smooth, with a focus on continuity and enhancement of services. “Our priority is to build on the trust that GetYourLawyer has established in the Swiss marketplace while expanding our reach,” Manintveld emphasized. “We’re committed to maintaining the high standards of service while introducing AI-driven innovations that will benefit legal professionals and clients across various sectors and countries.”

This acquisition comes at a time when the global legal tech sector is experiencing significant growth, projected to reach US$ 69.7 Billion by 2032. With their combined expertise in digital entrepreneurship, machine learning, and artificial intelligence, Manintveld and Chabat are well-positioned to capitalize on this trend and establish GetYourLawyer as a leader in the digital transformation of legal services across Europe.

About Getyourlawyer

GetYourLawyer is a pioneering Swiss legal platform that is revolutionizing the way people access legal services. Founded in 2017, the company has developed a digital platform that simplifies the process of finding and collaborating with lawyers. GetYourLawyer’s mission is to make legal assistance more accessible, transparent, and efficient for clients. The platform allows users to describe their legal needs, receive up to three competitive offers from specialized attorneys, and manage their entire case online – from initial consultation to final payment. With over 25,000 satisfied clients and a network of more than 200 partner law firms, GetYourLawyer has quickly established itself as a leader in the digital transformation of legal services in Switzerland. The company’s commitment to innovation and client satisfaction has attracted partnerships with major organizations like Coop Legal Protection Insurance and Beobachter, further solidifying its position in the Swiss legal tech landscape.

For more information contact:

Press Office – pr@getyourlawyer.ch – +41 43 505 19 00

Media Contact

Press Relations, GetYourLawyer AG, 41 43 505 19 00, pr@getyourlawyer.ch, getyourlawyer.ch/en 

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SOURCE GetYourLawyer AG

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