Connect with us

Technology

IAS Reports Fourth Quarter and Full Year 2023 Financial Results

Published

11 months ago

on

Fourth quarter revenue increased 14% to $134.3 million

Fourth quarter net income of $10.2 million at an 8% margin; fourth quarter adjusted EBITDA increased 19% to $47.5 million at a 35% margin

NEW YORK, Feb. 27, 2024 /PRNewswire/ — Integral Ad Science Holding Corp. (Nasdaq: IAS), a leading global media measurement and optimization platform, today announced financial results for the fourth quarter and full year ended December 31, 2023.

“We ended 2023 with strong fourth quarter performance across optimization and measurement with revenue growth of 16% and 18%, respectively,” said Lisa Utzschneider, CEO of IAS. “Social media revenue increased 37% in the fourth quarter as marketers trusted IAS to maximize their advertising spend globally, particularly in short-form video. In 2024, we will continue to invest in data science and innovate with AI to empower marketers with actionable data to drive superior results. We expect to deliver double-digit revenue growth for the full year.”  

Fourth Quarter 2023 Financial Highlights

Total revenue was $134.3 million, a 14% increase compared to $117.4 million in the prior-year period.Optimization revenue was $63.6 million, a 16% increase compared to $55.1 million in the prior-year period.Measurement revenue was $52.6 million, an 18% increase compared to $44.7 million in the prior-year period.Publisher revenue was $18.1 million, a 2% increase compared to $17.6 million in the prior-year period.International revenue, excluding the Americas, was $43.3 million, a 16% increase compared to $37.3 million in the prior-year period, or 32% of total revenue for the fourth quarter of 2023.Gross profit was $106.0 million, an 11% increase compared to $95.5 million in the prior-year period. Gross profit margin was 79% for the fourth quarter of 2023.Net income was $10.2 million, or $0.06 per basic and diluted share, compared to $11.5 million, or $0.07 per basic and diluted share, in the prior-year-period. Net income margin was 8% for the fourth quarter of 2023.Adjusted EBITDA* was $47.5 million, a 19% increase compared to $40.0 million in the prior-year period. Adjusted EBITDA* margin was 35% for the fourth quarter of 2023.

Full Year 2023 Financial Highlights

Total revenue was $474.4 million, a 16% increase compared to $408.3 million in the prior year.Optimization revenue was $224.5 million, an 18% increase compared to $190.6 million in the prior year.Measurement revenue was $186.0 million, a 20% increase compared to $154.9 million in the prior year.Publisher revenue was $63.8 million, a 2% increase compared to $62.8 million in the prior year.International revenue, excluding the Americas, was $146.8 million, a 14% increase compared to $129.1 million in the prior year, or 31% of total revenue for the full year 2023.Gross profit was $375.0 million, a 13% increase compared to $332.6 million in the prior year. Gross profit margin was 79% for the full year 2023.Net income was $7.2 million, or $0.04 per diluted share, compared to $15.4 million, or $0.10 per basic and diluted share, in the prior year. Net income margin was 2% for the full year 2023.Adjusted EBITDA* was $159.5 million, a 26% increase compared to $126.6 million in the prior year. Adjusted EBITDA* margin was 34% for the full year 2023.Cash and cash equivalents were $124.8 million at December 31, 2023.

Recent Business Highlights

Meta Expansion – In February, IAS announced the availability of its AI-driven Total Media Quality (TMQ) brand safety and suitability measurement product across Facebook and Instagram Feed and Reels. IAS’s new post-bid brand safety and suitability expansion with Meta gives advertisers increased transparency into whether their campaigns are appearing next to safe and suitable content.IAS MRC Continuing Accreditation for Measurement of Meta Platforms – In January, IAS received continuing accreditation from the MRC for viewability measurement of Meta, including impressions and two-second video viewability, on Facebook Feed and Instagram Feed and Stories.YouTube TMQ Expansion – During the fourth quarter, IAS expanded its partnership to YouTube Shorts to offer its brand safety and suitability measurement product to advertisers for YouTube Shorts inventory, as part of its existing Total Media Quality for YouTube product suite.X Expansion – In February, IAS expanded its partnership with X to all U.S. advertisers. IAS classifies all vertical video ad adjacencies for brand safety and suitability aligned to the GARM framework, giving advertisers maximum control over where their ads appear on the X vertical video feed.Quality Attention Expansion – In January, IAS announced the general availability of its Quality Attention measurement product. Quality Attention uses advanced machine learning technology, actionable data from Lumen Research’s eye-tracking technology, and a variety of signals obtained as part of IAS’s core technology.

Financial Outlook

“We reported profitable growth in the fourth quarter with a 14% revenue increase at a 35% adjusted EBITDA* margin,” said Tania Secor, CFO of IAS. “As we move through 2024, we expect to ramp both revenue growth and profitability from forecasted first quarter levels as we expand availability and customer adoption of new products. We also plan to maintain our strong financial profile and healthy balance sheet.”

IAS is introducing the following financial outlook for the first quarter and full year 2024:

First Quarter Ending March 31, 2024:

Total revenue of $111 million to $113 millionAdjusted EBITDA* of $28 million to $30 million

Year Ending December 31, 2024:

Total revenue of $530 million to $540 millionAdjusted EBITDA* of $171 million to $179 million

* See “Supplemental Disclosure Regarding Non-GAAP Financial Information” section herein for an explanation of Non-GAAP measures. IAS is unable to provide a reconciliation for forward-looking guidance of Adjusted EBITDA to net income (loss), the most closely comparable GAAP measure, because certain material reconciling items, such as depreciation and amortization, interest expense, income tax expense (benefit), restructuring and severance costs, and acquisition and integration costs, 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 first quarter of 2024 in the range of $14 million to $16 million and for the full year 2024 in the range of $72 million to $76 million. A reconciliation is not available without unreasonable effort.

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED BALANCE SHEETS

 

(IN THOUSANDS, EXCEPT SHARE DATA)

December 31, 2023

December 31, 2022

ASSETS

Current assets:

Cash and cash equivalents

$      124,759

$        86,877

Restricted cash

54

45

Accounts receivable, net

74,609

67,884

Unbilled receivables

46,548

41,550

Prepaid expenses and other current assets

18,959

24,761

Due from related party

—

29

Total current assets

264,929

221,146

Property and equipment, net

3,769

2,412

Internal use software, net

40,301

23,642

Intangible assets, net

178,908

217,558

Goodwill

675,282

674,094

Operating lease right-of-use assets, net

21,668

22,787

Deferred tax asset, net

2,465

2,020

Other long-term assets

4,402

5,024

Total assets

$   1,191,724

$   1,168,683

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable and accrued expenses

$        72,232

$        60,799

Operating lease liabilities, current

9,435

6,749

Due to related party

121

122

Deferred revenue

682

99

Total current liabilities

82,470

67,769

Deferred tax liability, net

20,367

45,495

Long-term debt

153,725

223,262

Operating lease liabilities, non-current

19,523

22,875

Other long-term liabilities

6,183

1,066

Total liabilities

282,268

360,467

Commitments and Contingencies

Stockholders’ Equity

Preferred Stock, $0.001 par value, 50,000,000 shares authorized at December 31, 2023; 0
     shares issued and outstanding at December 31, 2023 and 2022

—

—

Common Stock, $0.001 par value, 500,000,000 shares authorized at December 31, 2023,
     158,757,620 and 153,990,128 shares issued and outstanding at December 31, 2023 and
     2022, respectively

159

154

Additional paid-in-capital

901,259

810,186

Accumulated other comprehensive loss

(916)

(2,899)

Accumulated earnings

8,954

775

Total stockholders’ equity

909,456

808,216

Total liabilities and stockholders’ equity

$   1,191,724

$   1,168,683

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)

Three months ended December 31,

Year ended December 31,

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

2023

2022

2023

2022

Revenue

$       134,295

$       117,435

$      474,369

$      408,348

Operating expenses:

Cost of revenue (excluding depreciation and amortization shown below)

28,252

21,891

99,352

75,755

Sales and marketing

30,423

28,325

117,989

106,286

Technology and development

19,056

22,280

72,906

76,351

General and administrative

25,961

23,572

111,634

79,654

Depreciation and amortization

14,593

12,811

54,966

50,396

Foreign exchange (gain) loss, net

(501)

1,246

430

4,749

Total operating expenses

117,784

110,125

457,277

393,191

Operating income

16,511

7,310

17,092

15,157

Interest expense, net

(2,489)

(3,194)

(12,236)

(9,053)

Employee retention tax credit

—

—

—

6,981

Net income before income taxes

14,022

4,116

4,856

13,085

(Provision) benefit from income taxes

(3,858)

7,371

2,382

2,288

Net income

$         10,164

$         11,487

$          7,238

$        15,373

Net income per share:

Basic

$             0.06

$             0.07

$           0.05

$           0.10

Diluted

$             0.06

$             0.07

$           0.04

$           0.10

Weighted average shares outstanding:

Basic

158,243,619

153,792,438

156,272,335

154,699,694

Diluted

163,060,805

155,288,725

161,723,131

157,258,083

Other comprehensive income:

Foreign currency translation adjustments

2,772

8,634

1,983

(2,584)

Total comprehensive income

$         12,936

$         20,121

$          9,221

$        12,789

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’/MEMBERS’ EQUITY

Members’ Interest

Common Stock

(IN THOUSANDS, EXCEPT UNITS
AND SHARES DATA)

Units

Amount

Shares

Amount

Additional

paid-in

capital

Accumulated

other

comprehensive

income (loss)

Accumulated
earnings

(deficit)

Total members’/
stockholders’ 
equity

Balances at January 1, 2021

134,039,494

$            553,717

—

$                     —

$                     —

$               4,523

$          (126,761)

$            431,479

Repurchase of units

(99,946)

(413)

—

—

—

—

(791)

(1,204)

Units vested

17,486

—

—

—

—

—

—

—

Option exercises

246,369

1,075

—

—

3,360

—

—

4,435

Foreign currency translation
adjustment

—

—

—

—

—

(4,838)

—

(4,838)

Net loss prior to corporate conversion

—

—

—

—

—

—

(37,832)

(37,832)

Conversion to Delaware corporation

(134,203,403)

(554,379)

134,203,403

134

388,860

—

165,385

—

Rounding units/shares as a result of
corporate conversion

—

—

(17)

—

—

—

—

—

Stock-based compensation

—

—

—

—

55,222

—

—

55,222

RSUs vested

—

—

26,931

—

150

—

—

150

Issuance of common stock in
connection with initial public offering

—

—

16,821,330

17

274,340

—

—

274,357

Issuance of common stock for Publica
acquisition

—

—

2,888,889

3

49,628

—

—

49,631

Issuance of common stock for Context
acquisition

—

—

457,959

—

10,391

—

—

10,391

Net loss

—

—

—

—

—

—

(14,600)

(14,600)

Balances at December 31, 2021

—

$                     —

154,398,495

$                  154

$            781,951

$                 (315)

$            (14,600)

$            767,190

RSUs vested

—

—

1,084,966

1

—

—

—

1

Option exercises

—

—

1,586,728

2

7,153

—

—

7,155

Stock-based compensation

—

—

—

—

44,733

—

—

44,733

Foreign currency translation
adjustment

—

—

—

—

—

(2,584)

—

(2,584)

Repurchase of common stock

—

—

(3,080,061)

(3)

(23,652)

—

—

(23,655)

Net income

—

—

—

—

—

—

15,373

15,373

Balances at December 31, 2022

—

$                     —

153,990,128

$                  154

$            810,186

$              (2,899)

$                  775

$            808,216

RSUs and MSUs vested

—

—

3,492,130

4

—

—

—

4

Option exercises

—

—

1,001,793

1

7,988

—

—

7,989

ESPP purchase

—

—

273,569

—

2,306

—

—

2,306

Stock-based compensation

—

—

—

—

80,779

—

—

80,779

Foreign currency translation adjustment

—

—

—

—

—

1,983

—

1,983

Adoption of ASC 326, net of tax

—

—

—

—

—

—

941

941

Net income

—

—

—

—

—

—

7,238

7,238

Balances at December 31, 2023

—

$                     —

158,757,620

$                  159

$            901,259

$                 (916)

$               8,954

$            909,456

 

INTEGRAL AD SCIENCE HOLDING CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended December 31,

(IN THOUSANDS)

2023

2022

Cash flows from operating activities:

Net income

$          7,238

$        15,373

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

54,966

50,396

Stock-based compensation

81,103

44,752

Foreign exchange (gain) loss, net

(484)

5,233

Deferred tax benefit

(21,531)

(8,880)

Amortization of debt issuance costs

463

464

Allowance for credit losses

3,816

1,837

Employee retention tax credit

—

(6,981)

Impairment of assets

33

974

Changes in operating assets and liabilities:

Increase in accounts receivable

(8,148)

(18,581)

Increase in unbilled receivables

(4,685)

(5,830)

Decrease (increase) in prepaid expenses and other current assets

6,418

(10,641)

Increase in operating leases, net

(29)

(852)

Decrease (increase) in other long-term assets

375

(1,057)

Increase in accounts payable and accrued expenses and other long-term liabilities

11,478

6,286

Increase (decrease) in deferred revenue

582

(88)

Increase in due to/from related party

28

62

Net cash provided by operating activities

131,623

72,467

Cash flows from investing activities:

Payment for acquisitions, net of acquired cash

(966)

(1,603)

Purchase of property and equipment

(1,975)

(2,016)

Acquisition and development of internal use software and other

(31,777)

(14,673)

Net cash used in investing activities

(34,718)

(18,292)

Cash flows from financing activities:

Repayment of long-term debt

(145,000)

(35,000)

Repayment of short-term debt

—

(1,816)

Proceeds from the Revolver

75,000

15,000

Proceeds from exercise of stock options

7,989

7,155

Payments for repurchase of common stock

—

(23,655)

Cash received from Employee Stock Purchase Program (ESPP)

3,160

845

Net cash used in financing activities

(58,851)

(37,471)

Net increase in cash, cash equivalents, and restricted cash

38,054

16,704

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

(435)

(3,111)

Cash, cash equivalents, and restricted cash, at beginning of year

89,671

76,078

Cash, cash equivalents, and restricted cash, at end of year

$      127,290

$        89,671

Supplemental Disclosures:

Cash paid during the year for:

Interest

$        11,229

$          8,511

Taxes

$        10,985

$        16,396

Non-cash investing and financing activities:

Property and equipment acquired included in accounts payable

$             431

$               97

Internal use software acquired included in accounts payable

$          1,444

$          1,517

Lease liabilities arising from right of use assets

$          6,282

$        29,624

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/loss before depreciation and amortization, stock-based compensation, interest expense, income taxes, restructuring and severance costs, acquisition and integration costs, foreign exchange gains and losses, 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, 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.

Reconciliation of historical Adjusted EBITDA and corresponding margin to their most directly comparable GAAP financial measures, net income/loss and corresponding margin 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 December 31,

Year ended December 31,

(in thousands, except percentages)

2023

2022

2023

2022

Net income

$       10,164

$       11,487

$         7,238

$      15,373

Depreciation and amortization

14,593

12,811

54,966

50,396

Stock-based compensation

15,462

11,645

81,103

44,752

Interest expense, net

2,489

3,194

12,236

9,053

Provision (benefit) from income taxes

3,858

(7,371)

(2,382)

(2,288)

Restructuring and severance costs

1,054

5,904

4,028

10,321

Acquisition and integration costs

—

118

—

97

Foreign exchange (gain) loss, net

(501)

1,246

430

4,798

Employee retention tax credit

—

—

—

(6,981)

Offering costs, impairments and other costs

396

1,003

1,913

1,058

Adjusted EBITDA

$       47,515

$       40,037

$     159,532

$    126,579

Revenue

$     134,295

$     117,435

$     474,369

$    408,348

Net income margin

8 %

10 %

2 %

4 %

Adjusted EBITDA margin

35 %

34 %

34 %

31 %

 

Stock-Based Compensation 

Three months ended December 31,

Year ended December 31,

(in thousands)

2023

2022

2023

2022

Cost of revenue

$             124

$             249

$             452

$             507

Sales and marketing

5,512

2,871

23,371

13,520

Technology and development

4,104

2,958

17,538

9,937

General and administrative

5,722

5,567

39,742

20,788

Total stock-based compensation

$         15,462

$         11,645

$         81,103

$         44,752

Conference Call and Webcast Information
IAS will host a conference call and live webcast to discuss its fourth quarter and full year 2023 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, safety, 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 and business. 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, expenditures, cash flows, growth rates and financial results or our plans and objectives for future operations, growth initiatives or strategies 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; (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 / Lauren Hartman
ir@integralads.com

Media Contact:
press@integralads.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ias-reports-fourth-quarter-and-full-year-2023-financial-results-302073075.html

SOURCE Integral Ad Science, Inc.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

StoneAge Named a 2025 Real Leaders® Top Impact Company Recognized for Producing Ownership Mindset and Purpose-Driven Leadership

Published

50 minutes ago

on

January 10, 2025

By

StoneAge, a global leader in industrial waterblast equipment, is proud to announce its inclusion in the Real Leaders® Top Impact Companies 2025 list, ranking 35th in the top 50 companies recognized. In addition to this prestigious award, StoneAge is also a finalist for the Top People award, which will be announced the first week in February. This recognition highlights the company’s dedication to fostering an ownership culture and driving positive change through its innovative Employee Stock Ownership Plan (ESOP).

DURANGO, Colo., Jan. 10, 2025 /PRNewswire-PRWeb/ — StoneAge, a global leader in industrial waterblast equipment, is proud to announce its inclusion in the Real Leaders® Top Impact Companies 2025 list, ranking 35th in the top 50 companies recognized. In addition to this prestigious award, StoneAge is also a finalist for the Top People award, which will be announced the first week in February. This recognition highlights the company’s dedication to fostering an ownership culture and driving positive change through its innovative Employee Stock Ownership Plan (ESOP).

“We are thrilled to be recognized as a 2025 Top Impact Company by Real Leaders®,” said Kerry Siggins, President and CEO of StoneAge. “Our ongoing focus on building an ownership culture and creating a workplace where everyone thrives is a significant driver in our achievement of this award.”

The Real Leaders® Impact Awards celebrate companies committed to putting a dynamic spin on capitalism to solve the world’s greatest challenges. StoneAge’s commitment to building a better, more sustainable future is rooted in its unique ownership model and core values of teamwork, self-leadership, and delivering on the StoneAge Assurance Promise.

“We are thrilled to be recognized as a 2025 Top Impact Company by Real Leaders®,” said Kerry Siggins, President and CEO of StoneAge. “Our ongoing focus on building an ownership culture and creating a workplace where everyone thrives is a significant driver in our achievement of this award. We are proud to be an employee-owned company where everyone shares in the success of the company. Our “Own It” culture and employee ownership plan are changing peoples’ lives.”

As a 100% employee-owned company, StoneAge continues to set the standard in its industry, proving that purpose-driven leadership and economic success go hand in hand. This recognition by Real Leaders® reinforces StoneAge’s commitment to making a lasting, positive impact on its employees, customers, and the world at large.

About StoneAge

StoneAge, based in Durango, CO, is a leading manufacturer of industrial waterblast equipment. The company is 100% employee-owned, fostering an “Own It” culture that empowers its team to excel personally and professionally.

About Real Leaders®

Real Leaders® is the premier platform for purpose-driven leaders dedicated to creating a better world. Its annual Top Impact Companies list recognizes businesses leading the way in positive global impact.

Media Contact
Brittany Harris, StoneAge Inc, 1 9702592869, brittany.harris@stoneagetools.com, www.stoneagetools.com

View original content to download multimedia:https://www.prweb.com/releases/stoneage-named-a-2025-real-leaders-top-impact-company-recognized-for-producing-ownership-mindset-and-purpose-driven-leadership-302347250.html

SOURCE StoneAge Inc

Continue Reading

Technology

Cognizant CEO Ravi Kumar S Honored with Prestigious Pravasi Bharatiya Samman Award

Published

50 minutes ago

on

January 10, 2025

By

BHUBANESWAR, India, Jan. 10, 2025 /PRNewswire/ — Ravi Kumar S, CEO of Cognizant, a leading global technology company, has been honored with the prestigious Pravasi Bharatiya Samman Award, the highest accolade awarded by the Government of India for overseas Indians. The honor was conferred by Smt. Droupadi Murmu, President of India at the Pravasi Bharatiya Divas Convention in Bhubaneswar, Odisha. The award acknowledges the outstanding contributions of the Indian diaspora for creating a better understanding of India abroad, supporting India’s causes and working for the welfare of the Indian community.

“I am deeply honored to receive the Pravasi Bharatiya Samman Award,” said Ravi Kumar S, CEO, Cognizant. “This recognition is a reflection of Cognizant’s steadfast commitment to India’s growth story. With nearly 70% of our 340,000-strong global workforce based in India, we are focused on advancing AI-first capabilities, driving innovation, and reinforcing India’s position as a global leader in digital talent.”

Ravi began his distinguished career as a nuclear scientist at the Bhabha Atomic Research Center of India. His dedication to empowering both current and future talent for the jobs of tomorrow through comprehensive skilling has been a cornerstone of his career. He is also a strong advocate for social and economic mobility, championing programs that elevate education, upskilling, and the empowerment of women, especially through public-private partnerships.

Under Ravi’s leadership, Cognizant launched the groundbreaking Synapse initiative in 2024, aiming to train one million people globally in emerging technologies by 2026, with a special emphasis on AI and a focus on India. The initiative has already reached over 275,000 individuals. Synapse builds on Cognizant’s longstanding commitment to economic mobility, supported by over $70 million in philanthropic funds through 117 grants to 77 organizations globally.

For the past three decades, Cognizant has been integral to India’s growth story and is the second-largest multinational employer in the Indian technology sector. Additionally, the company, through its Foundation in India and employee-volunteering program – Cognizant Outreach, has been dedicated to uplifting underserved communities and improving everyday lives.

Ravi was named CEO of Cognizant in January 2023 and joined the board of directors for the US-India Strategic Partnership Forum in 2024. He is a member of the board of directors of TransUnion. He is also on the board of governors of New York Academy of Sciences and the board of directors for the U.S. Chamber of Commerce. His full biography can be viewed here.

For the last 30 years, Cognizant has helped companies modernize technology, reimagine processes and transform experiences so they stay ahead in an ever-changing world. By leveraging cutting-edge digital technologies like AI, cloud, and process automation, Cognizant delivers industry-specific solutions through the expertise of its global workforce, helping clients engineer intuition into their businesses. With headquarters in the US, Cognizant footprint extends from India to Europe, North America, South America and the Middle East. In India, the company has a strong presence in Bengaluru, Bhubaneswar, Chennai, Coimbatore, Delhi-NCR, Hyderabad, Indore, Kochi, Kolkata, Mangaluru, Mumbai, and Pune.

About Cognizant 
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes, and transform experiences to stay ahead in our fast-changing world. Together, we’re improving everyday life. See how at www.cognizant.com or @cognizant.

For more information, contact:

U.S.

Name Bill Abelson

Email william.abelson@cognizant.com

Europe / APAC

Name Christina Schneider

Email christina.schneider@cognizant.com

India

Name Rashmi Vasisht

Email rashmi.vasisht@cognizant.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-ceo-ravi-kumar-s-honored-with-prestigious-pravasi-bharatiya-samman-award-302348142.html

SOURCE Cognizant Technology Solutions Corporation

Continue Reading

Technology

“Transform IT. Transform Everything:” Info-Tech LIVE 2025 Registration Opens for June 2025 IT Conference in Las Vegas

Published

50 minutes ago

on

January 10, 2025

By

Info-Tech Research Group has opened registration for its flagship event, Info-Tech LIVE 2025, taking place June 10–12 at The Bellagio, Las Vegas. The conference will bring together more than 3,000 IT leaders and experts to explore actionable strategies and insights under the theme “Transform IT. Transform Everything.”

TORONTO, Jan. 10, 2025 /PRNewswire/ – Info-Tech Research Group, a global leader in IT research and advisory, has announced that registration is now open for Info-Tech LIVE 2025, the premier event for IT leaders, set to take place June 10–12 at The Bellagio in Las Vegas. With this year’s theme, “Transform IT. Transform Everything.”, the conference is set to deliver actionable insights, hands-on sessions, and unparalleled networking opportunities designed to equip attendees with the tools and strategies to navigate today’s rapidly evolving IT landscape.

Building on the massive success of last year’s event, Info-Tech LIVE will bring together over 3,000 IT executives, offering a platform for learning, collaboration, and inspiration. Attendees can look forward to 50+ keynote sessions, 60+ industry roundtables and panels, 60+ breakout and workshop sessions, and more than 700 opportunities for one-on-one analyst discussions. LIVE 2025 also provides extensive opportunities for peer-to-peer networking, fostering meaningful connections and collaborative discussions within the IT space.

“LIVE 2025 is designed to empower IT leaders to drive meaningful change within their organizations by equipping them with actionable strategies to tackle today’s challenges and seize tomorrow’s opportunities,” says Info-Tech Research Group’s Chief Research Officer, Gord Harrison. “While our theme for LIVE 2025 is ‘Transform IT. Transform Everything.,’ we are also emphasizing our subtheme, ‘Research for Everyone.’ This approach highlights the importance of empowering entire teams, not just individual leaders. True IT transformation happens when CIOs invest in upskilling their teams, fostering collaboration, and enabling everyone to contribute to innovation that reshapes organizations as a whole.”

Info-Tech LIVE 2025 Preliminary Agenda Highlights

LIVE 2025 will feature sessions tailored to IT leaders that focus on pressing topics and address real-world challenges, ensuring attendees leave equipped with solutions that translate theory into action. Some of the main sessions will highlight:

Emerging Technology Trends: An exploration of advancements shaping the IT landscape, with a focus on their implications for organizational strategy and innovation.AI and Analytics Strategies: Practical insights into implementing AI solutions and leveraging analytics to improve decision-making and drive business innovation.Cybersecurity Challenges and Resilience: Frameworks and approaches for managing risk and enhancing resilience in an increasingly complex cybersecurity environment.Leadership Development and Talent Strategies: Strategies for building and sustaining high-performing IT teams while addressing workforce challenges and future talent needs.Operational Efficiency and IT Transformation: Guidance on optimizing IT processes to align with broader organizational goals and achieve operational excellence.

What Info-Tech LIVE 2025 Offers the IT Industry

Expert-Led Keynotes and Panels: Sessions led by industry experts and thought leaders, offering insights into critical trends and strategies shaping the future of IT.Hands-On Workshops: Interactive sessions designed to equip participants with practical strategies and tools to address organizational challenges effectively.Peer Networking: Opportunities to connect with IT professionals and executives from a wide range of industries, fostering collaboration and knowledge sharing.One-on-One Analyst Discussions: Personalized sessions with Info-Tech’s renowned analysts, providing tailored guidance and actionable insights to support strategic initiatives.

Media Pass Applications

Media professionals, including journalists, podcasters, and influencers, are invited to attend Info-Tech LIVE 2025 to gain exclusive access to research, content, and interviews with industry leaders. For those unable to attend in person, Info-Tech offers a digital pass option, providing access to live-streamed keynotes, select sessions, and exclusive virtual interviews with speakers and analysts.

Media professionals looking to apply for in-person or digital passes can contact pr@infotech.com to secure their spot and cover the latest advancements in IT directly from the event or remotely.

Exhibitor Opportunities

Exhibitors are also invited to be part of Info-Tech LIVE and showcase their products and services to a highly engaged audience of IT decision-makers. For more information about becoming an Info-Tech LIVE exhibitor, please contact events@infotech.com.

Further details on keynote speakers and agenda will be announced in the coming weeks and months. Follow Info-Tech Research Group on LinkedIn and X for updates.

About Info-Tech Research Group

Info-Tech Research Group is one of the world’s leading research and advisory firms, proudly serving over 30,000 IT and HR professionals. The company produces unbiased, highly relevant research and provides advisory services to help leaders make strategic, timely, and well-informed decisions. For nearly 30 years, Info-Tech has partnered closely with teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

To learn more about Info-Tech’s divisions, visit McLean & Company for HR research and advisory services and SoftwareReviews for software-buying insights. 

Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm’s Media Insiders program. To gain access, contact pr@infotech.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/transform-it-transform-everything-info-tech-live-2025-registration-opens-for-june-2025-it-conference-in-las-vegas-302348149.html

SOURCE Info-Tech Research Group

Continue Reading

Trending