Technology

LightInTheBox Reports First Quarter 2024 Financial Results

Published

11 months ago

May 28, 2024

SINGAPORE , May 28, 2024 /PRNewswire/ — LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company”), an apparel e-commerce retailer that ships products to consumers worldwide, today announced its unaudited financial results for the first quarter ended March 31, 2024.

“We faced macroeconomic headwinds and increasing competition in the first quarter of 2024,” said Mr. Jian He, Chairman and CEO of LightInTheBox. “We addressed the complex landscape with our high-quality development strategy, pivoting from prioritizing sales growth to focusing on profitability. We also strove to grow our brand awareness with high value-for-money products and optimize our consumption experience.”

“As we move through 2024, we will remain focused on high-quality development and profitability. We are fostering new brands and initiating a series of strategic adjustments to differentiate our products, services and customer experience while refining our localized operations and marketing campaigns in key markets. We believe these strategic initiatives will optimize marketing ROI, drive user traffic and cultivate a loyal customer base over time, strengthening our brand recognition worldwide and overall competitiveness. Delivering high-quality development and sustainable, long-term value for all stakeholders remains our ultimate goal,” Mr. He concluded.

First Quarter 2024 Financial Highlights

Total revenues were $71.2 million in the first quarter of 2024, compared with $147.8 million in the same period of 2023.

Apparel sales were $56.4 million in the first quarter of 2024, compared with $119.2 million in the same period of 2023.

Net loss was $3.8 million in the first quarter of 2024, compared with $4.0 million in the same period of 2023.

Adjusted EBITDA was a loss of $3.1 million in the first quarter of 2024, compared with a loss of $3.1 million in the same period of 2023.

First Quarter 2024 Financial Results

Total revenues decreased by 51.8% year-over-year to $71.2 million from $147.8 million in the same quarter of 2023. Sales from apparel decreased by 52.7% to $56.4 million in the first quarter of 2024, compared with $119.2 million in the same quarter of 2023.

Total cost of revenues was $29.7 million in the first quarter of 2024, compared with $65.3 million in the same quarter of 2023.

Gross profit in the first quarter of 2024 was $41.4 million, compared with $82.5 million in the same quarter of 2023. Gross margin was 58.2% in the first quarter of 2024, compared with 55.8% in the same quarter of 2023.

Total operating expenses in the first quarter of 2024 were $45.5 million, compared with $86.5 million in the same quarter of 2023.

Fulfillment expenses in the first quarter of 2024 were $5.7 million, compared with $8.6 million in the same quarter of 2023. As a percentage of total revenues, fulfillment expenses were 8.1% in the first quarter of 2024, compared with 5.8% in the same quarter of 2023 and 5.9% in the fourth quarter of 2023.

Selling and marketing expenses in the first quarter of 2024 were $32.7 million, compared with $69.1 million in the same quarter of 2023. As a percentage of total revenues, selling and marketing expenses were 46.0% in the first quarter of 2024, compared with 46.8% in the same quarter of 2023 and 48.5% in the fourth quarter of 2023.

G&A expenses in the first quarter of 2024 were $7.3 million, compared with $9.1 million in the same quarter of 2023. As a percentage of total revenues, G&A expenses were 10.2% in the first quarter of 2024, compared with 6.1% in the same quarter of 2023 and 5.0% in the fourth quarter of 2024. As part of G&A expenses, R&D expenses in the first quarter of 2024 were $4.6 million, compared with $5.2 million in the same quarter of 2023 and $3.6 million in the fourth quarter of 2023.

Loss from operations was $4.0 million in the first quarter of 2024, compared with $4.0 million in the same quarter of 2023.

Net loss was $3.8 million in the first quarter of 2024, compared with $4.0 million in the same quarter of 2023.

Net loss per American Depository Share (“ADS”) was $0.03 in the first quarter of 2024, compared with $0.03 in the same quarter of 2023. Each ADS represents two ordinary shares. The diluted net loss per ADS in the first quarter of 2024 was $0.03, compared with $0.03 in the same quarter of 2023.

In the first quarter of 2024, the Company’s basic weighted average number of ADSs used in computing the net loss per ADS was 111,388,157.

Adjusted EBITDA was a loss of $3.1 million in the first quarter of 2024, compared with a loss of $3.1 million in the same quarter of 2023.

As of March 31, 2024, the Company had cash and cash equivalents and restricted cash of $30.9 million, compared with $73.6 million as of March 31, 2023.

Share Repurchase Program

On June 27, 2023, the Company’s board of directors authorized a share repurchase program under which the Company may repurchase up to $10 million of its ordinary shares in the form of ADSs no later than December 31, 2023. The Company has since extended the share repurchase program through June 30, 2024. As of April 17, 2024, the Company had repurchased 3.2 million ADSs with a total aggregate value of approximately $3.5 million.

Business Outlook

For the second quarter of 2024, based on current information available to the Company and business seasonality, the Company expects net revenues to be between $60 million and $70 million.

Non-GAAP Financial Measure

In evaluating the business, the Company considers and uses a non-GAAP measure, Adjusted EBITDA, as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s non-GAAP financial measure excludes share-based compensation expenses, depreciation and amortization expenses, interest income, interest expenses and income tax expense.

The Company presents this non-GAAP financial measure because it is used by management to evaluate operating performance and formulate business plans. The Company believes that the non-GAAP financial measure helps identify underlying trends in its business. The Company also believes that the non-GAAP financial measure could provide further information about the Company’s results of operations and enhance the overall understanding of the Company’s past performance and future prospects.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. The Company’s non-GAAP financial measure does not reflect all items of income and expenses that affect the Company’s operations and does not represent the residual cash flow available for discretionary expenditures. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for the limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages you to review the Company’s financial information in its entirety and not rely on a single financial measure.

For more information on the non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Result” set forth at the end of this press release.

Conference Call

The Company’s management will hold an earnings conference call at 9:00 a.m. Eastern Time on May 28, 2024 (9:00 p.m. Hong Kong/Singapore Time on the same day).

Preregistration Information

Participants can register for the conference call by going to https://s1.c-conf.com/diamondpass/10039195-64w0b3.html. Upon registration, participants will receive dial-in numbers, an event passcode, and a unique access PIN.

To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the event passcode followed by your unique access PIN, and you will be connected to the conference instantly.

A telephone replay will be available two hours after the conclusion of the conference call through June 4, 2024. The dial-in details are:

US/Canada:

+1-855-883-1031

Singapore:

800-101-3223

Hong Kong, China:

800-930-639

Replay PIN:

10039195

Additionally, a live and archived webcast of the conference call will be available on the Company’s Investor Relations website at http://ir.lightinthebox.com.

About LightInTheBox Holding Co., Ltd.

LightInTheBox is an apparel e-commerce retailer that ships products to consumers worldwide. With a focus on serving its middle-aged and senior customers, LightInTheBox leverages its global supply chain and logistics networks, along with its in-house R&D and design capabilities to offer a wide selection of comfortable, aesthetically pleasing and visually interesting apparel that brings fresh joy to customers. LightInTheBox operates its business through www.lightinthebox.com, www.ezbuy.sg and other websites as well as mobile applications, which are available in over 20 major languages and over 140 countries and regions. The Company is headquartered in Singapore, with additional offices in California, Shanghai and Beijing.

For more information, please visit www.lightinthebox.com.

Investor Relations Contact

Investor Relations
LightInTheBox Holding Co., Ltd.
Email: ir@lightinthebox.com

Jenny Cai
Piacente Financial Communications
Email: lightinthebox@tpg-ir.com

Brandi Piacente
Piacente Financial Communications
Tel: +1-212-481-2050
Email: lightinthebox@tpg-ir.com

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets” and similar statements. Among other things, statements that are not historical facts, including statements about LightInTheBox’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as LightInTheBox’s strategic and operational plans, are or contain forward-looking statements.

LightInTheBox may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: LightInTheBox’s goals and strategies; LightInTheBox’s future business development, results of operations and financial condition; the expected growth of the global online retail market; LightInTheBox’s ability to attract customers and further enhance customer experience and product offerings; LightInTheBox’s ability to strengthen its supply chain efficiency and optimize its logistics network; LightInTheBox’s expectations regarding demand for and market acceptance of its products; competition; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in LightInTheBox’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and LightInTheBox does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

LightInTheBox Holding Co., Ltd.

Unaudited Condensed Consolidated Balance Sheets

(U.S. dollars in thousands, or otherwise noted)

As of December 31,

As of March 31,

2023

2024

ASSETS

Current Assets

Cash and cash equivalents

66,425

26,527

Restricted cash

5,279

4,337

Accounts receivable, net of allowance for credit losses

634

733

Inventories

5,767

4,583

Prepaid expenses and other current assets

6,875

9,034

Total current assets

84,980

45,214

Property and equipment, net

2,789

2,471

Intangible assets, net

3,604

3,298

Goodwill

27,393

26,947

Operating lease right-of-use assets

6,559

5,520

Long-term rental deposits

392

356

Other non-current assets

592

1,487

TOTAL ASSETS

126,309

85,293

LIABILITIES AND EQUITY / (DEFICIT)

Current Liabilities

Accounts payable

15,846

13,902

Advance from customers

17,001

15,350

Operating lease liabilities

5,046

4,289

Accrued expenses and other current liabilities

94,622

63,468

Total current liabilities

132,515

97,009

Operating lease liabilities

1,915

1,609

Deferred tax liabilities

154

151

Unrecognized tax benefits

107

TOTAL LIABILITIES

134,691

98,876

EQUITY / (DEFICIT)

Ordinary shares

Additional paid-in capital

283,137

283,361

Treasury shares

(30,359)

(31,193)

Accumulated other comprehensive loss

(1,856)

(2,617)

Accumulated deficit

(259,321)

(263,151)

TOTAL EQUITY / (DEFICIT)

(8,382)

(13,583)

TOTAL LIABILITIES AND EQUITY / (DEFICIT)

126,309

85,293

LightInTheBox Holding Co., Ltd.

Unaudited Condensed Consolidated Statements of Operations

(U.S. dollars in thousands, except per share data, or otherwise noted)

Three months ended March 31,

2023

2024

Revenues

Product sales

144,601

67,831

Services and others

3,180

3,338

Total revenues

147,781

71,169

Cost of revenues

Product sales

(64,176)

(29,070)

Services and others

(1,103)

(650)

Total Cost of revenues

(65,279)

(29,720)

Gross profit

82,502

41,449

Operating expenses

Fulfillment

(8,636)

(5,746)

Selling and marketing

(69,112)

(32,741)

General and administrative

(9,057)

(7,259)

Other operating income

345

286

Total operating expenses

(86,460)

(45,460)

Loss from operations

(3,958)

(4,011)

Interest income

Interest expense

(1)

–

Other income, net

111

Total other income

181

Loss before income taxes

(3,908)

(3,830)

Income tax expense

(48)

–

Net loss

(3,956)

(3,830)

Net loss attributable to LightInTheBox Holding Co., Ltd.

(3,956)

(3,830)

Weighted average numbers of shares used in calculating loss per ordinary
share

–Basic

226,660,302

222,776,314

–Diluted

226,660,302

222,776,314

Net loss per ordinary share

–Basic

(0.02)

–Diluted

(0.02)

Net loss per ADS (2 ordinary shares equal to 1 ADS)

–Basic

(0.03)

–Diluted

(0.03)

LightInTheBox Holding Co., Ltd.

Unaudited Reconciliations of GAAP and Non-GAAP Results

(U.S. dollars in thousands, or otherwise noted)

Three months ended March 31,

2023

2024

Net loss

(3,956)

(3,830)

Less: Interest income

Interest expense

(1)

–

Income tax expense

(48)

–

Depreciation and amortization

(829)

(626)

EBITDA

(3,108)

(3,274)

Less: Share-based compensation

(5)

(224)

Adjusted EBITDA*

(3,103)

(3,050)

* Adjusted EBITDA represents net loss before share-based compensation expense, interest income, interest expense,
income tax expense and depreciation and amortization expenses.

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SOURCE LightInTheBox Holding Co., Ltd.

Technology

e& achieves AED 16.9 billion consolidated revenue growing 18.7% YoY in Q1 2025

Published

11 minutes ago

April 29, 2025

Consolidated net profit increased to AED 5.4 billion, reflecting a 129.9 per cent increase year-on-year growth. Excluding the impact of Khazna transaction, net profit increased by 19.1 per cent year-on-year. The proceeds of USD 2.2 billion were received and utilised to reduce the group’s debt balance in April
EBITDA reached AED 7.4 billion, increasing 15.4 per cent YoY
Total Group subscribers grew to 194.8 million
e& became the “World’s Fastest Growing Brand” with a brand portfolio and investment value exceeding US$ 20 billion

ABU DHABI, UAE, April 29, 2025 /CNW/ — e& has delivered a strong start to 2025, continuing its trajectory of growth and digital leadership. The group posted strong performance across key financial indicators, reflecting the strength of its strategy and rising impact as a global technology group.

Consolidated revenue increased to AED 16.9 billion, growing 18.7 per cent year-on-year (YoY), while consolidated net profit increased to AED 5.4 billion — a growth of 129.9 per cent compared to the same period last year. The Group’s EBITDA reached AED 7.4 billion, growing 15.4 per cent YoY.

The Group’s total subscriber base reached 194.8 million, an increase of 12.9 per cent YoY, while the number of e& UAE subscribers reached 15.3 million, underscoring the continued demand for e&’s next-generation connectivity, AI-powered solutions, and innovative digital experiences.

Financial Highlights for Q1 2025

Q1 2025

Q1 2024

Per cent change

Consolidated Revenue

AED 16.9 billion

AED 14.2 billion

18.7 %

Consolidated Net Profit

AED 5.4 billion

AED 2.3 billion

129.9 %

EBITDA

AED 7.4 billion

AED 6.4 billion

15.4 %

Total Group Subscribers

194.8 million

172.6 million

12.9 %

e& UAE Subscribers

15.3 million

14.5 million

5.3 %

Hatem Dowidar, Group Chief Executive Officer of e&, said: “Q1 2025 marks another milestone in e&’s journey, with a strong performance across all fronts. Our consolidated revenue reached AED 16.9 billion while EBITDA amounted to AED 7.4 billion, growing year over year by 18.7% and 15.4%, respectively and benefiting from disciplined execution, dedicated customer focus and guided by our vision of being a global technology company.

“What sets e& apart is our ability to innovate, scale and deliver while navigating a competitive global landscape— from embedding AI across our business and deploying the region’s most advanced 5G networks, to expanding our footprint across three continents with the e& PPF Telecom investment at the end of 2024, we are building a digital ecosystem that empowers individuals, businesses, and governments. We are not only growing — we are shaping the digital future with intent, impact, and global ambition.

Strong first quarter results was crowned with the successful monetisation of our stake in the Khazna business at a lucrative valuation towards the end of March.

“These outcomes are not aspirational — they are clear proof points. We are translating our ambition into measurable performance via achieving robust financial performance, retaining our network leadership, scaling our footprint across high-potential markets and optimising our assets profile to create a sustainable value for our shareholders.”

Key Operational Highlights

e& started 2025 with strong momentum, earning the ranking of “World’s Fastest Growing Brand” in the Brand Finance Global 500 report. e& received a AAA rating and a brand strength score of 84.6, ranking among the top 10 most valuable telecom brands worldwide. Its brand portfolio and investment value exceeded US$ 20 billion in 2025.

e& completed the divestment of its 40% stake in Khazna for a value of USD 2.2 billion (equivalent to AED 8.0 billion). The move reflects a strategic effort to unlock value, sharpen focus on core businesses and optimise its portfolio. It also enhances shareholder returns, strengthens financial flexibility, and reinforces e&’s commitment to long-term growth.

Maroc Telecom and Inwi (Wana Corporate) signed an expanded partnership to accelerate Morocco’s fibre optic and 5G rollout. The agreement includes the formation of two joint ventures: one focused on the deployment of fiber-optic passive infrastructure and the other dedicated to the rollout of new telecommunications towers. The partnership is still subject to obtaining the needed regulatory approvals.

In Davos, e& unveiled an innovative AI and Generative AI governance solution, developed in collaboration with IBM, to promote ethical, transparent and secure deployment of AI technologies. This framework supports compliance and risk oversight across the Group’s expanding AI ecosystem, reinforcing e&’s commitment to responsible innovation.

A joint study with the IBM Institute for Business Value, titled “MENA’s AI Advantage: Opportunity to Leap Ahead and Lead,” explored the region’s potential to become a global AI leader. The report revealed that 65 per cent of MENA-based CEOs are championing Generative AI adoption – outpacing the global average – and highlighted how public-private collaboration, infrastructure investment, and skills development are accelerating AI integration across industries.

In an academic partnership, e& signed an MoU with NYU Abu Dhabi to advance research and development on 6G technology. The collaboration aims to bridge the gap between academia and industry, offering students early exposure to next-generation technologies while positioning the UAE as a hub for future connectivity.

Community empowerment also remained front and centre. In Q1, e& teamed up with The Butterfly, Wollongong University and Zayed University to launch a career exploration programme for People of Determination, providing university students and recent graduates with a supportive, inclusive platform to develop skills and explore professional pathways.

e& Carrier & Wholesale Services (C&WS) reaffirmed its position as a regional powerhouse by enhancing global connectivity and integrating AI across its operations. These efforts are opening up new commercial pathways for digital services at scale, while keeping pace with the demands of an increasingly data-driven global economy.

A major highlight of the quarter was the expansion of the Fujairah SmartHub Campus, with the addition of a fourth Tier-III data centre. The new facility added 1.5 MW of capacity, bolstering the UAE’s digital backbone and strengthening interconnectivity across the Middle East. The campus continues to serve as a vital gateway for global traffic flows, regional content hosting and low-latency cloud services.

In a joint effort with the UNDP and GSMA, e& introduced an AI-powered Social and Climate Platform that turns real-time, non-conventional data into actionable insights for policymakers across the Arab States and beyond. The initiative showcases how AI can be a force for inclusive, data-driven development, aligning with the Group’s broader sustainability agenda.

e& UAE

e& UAE started Q1 2025 with a series of product innovations and partnerships designed to meet evolving consumer expectations while reinforcing its leadership in connectivity and digital services.

Responding to growing demand for high-speed connectivity, the business launched Neo Home, a new line of 1Gbps fibre plans. Tailored for modern households, Neo Home offers seamless streaming, faster downloads, and customisable TV add-ons—delivering speed and flexibility.

e& UAE successfully completed the first phase of integrating AI into its private cloud for operations. This initiative, powered by Intel’s advanced AMX technology and Cisco’s cutting-edge networking and data centre solutions, aims to elevate e& UAE’s operational efficiency by leveraging AI and developing AI use cases across its business operations.

e& UAE deepened its collaboration with Samsung to bring the latest generation of AI-powered mobile experiences to customers across the country. The partnership reflects a shared commitment to delivering more intuitive, context-aware technologies that enhance everyday life and support the growing demand for smart, seamless connectivity.

e& UAE has also launched a Kids SIM Card with flexible plans and a free Parental Control Service, offering features like content filtering, screen time limits, and social media monitoring to ensure a safe digital experience for children.

In a push to empower the country’s SMB ecosystem, e& UAE partnered with AI platform Aleria to offer tailored solutions that enhance decision-making, operational efficiency, and cost management. These tools reflect e&’s commitment to enabling businesses of all sizes to thrive in a competitive digital economy.

On the enterprise side, e& UAE deepened its partnership with Microsoft, deploying M365 Copilot at scale to drive AI-powered workplace transformation. The large-scale rollout is already enhancing productivity and automating workflows across the organisation, accelerating its digital transformation journey.

e& UAE and Microsoft launched the AI for Business Skilling Programme, an initiative designed to equip Small and Medium-sized Businesses (SMBs) with essential AI skills. This initiative underscores both companies’ commitment to fostering AI-led digital transformation and empowering SMBs with the knowledge and tools needed to thrive in today’s AI-driven business landscape.

In partnership with Kindred, the business continued to align innovation with sustainability through the “Save & Grow” initiative. Available via the e& UAE app, the programme combines eco-conscious shopping with financial incentives. Users earn discounts while supporting tree planting and sustainable practices across a network of over 9,000 online retailers.

In collaboration with Open Innovation AI, e& UAE has launched a dedicated AI Lab to develop localised AI solutions, accelerate innovation, and support the UAE’s goal of becoming a global AI leader by 2031. The lab will focus on sectors like government, healthcare, finance, and education, while also nurturing a skilled AI workforce.

Meanwhile, Smiles, e& UAE’s all-in-one lifestyle and rewards app, announced a new collaboration with Tencent Cloud – the powerhouse behind WeChat – which is set to elevate digital commerce capabilities in the UAE. Smiles also partnered with Amazon.ae to offer users up to six months of Amazon Prime at discounted rates, redeemable using Smiles points. These moves reinforce Smiles’ mission to deliver everyday value through strategic, customer-first innovation.

The General Authority of Islamic Affairs, Endowments and Zakat (AWQAF UAE) entered into a cooperation agreement with e& UAE. This partnership aims to develop a digital system that enhances the experiences of worshippers in mosques across the country. The initiative focuses on improving the management of mosque facilities and services, aligning with the UAE’s broader digital transformation goals.

This collaboration reflects the UAE’s commitment to integrating technology into religious and community services, ensuring that worshippers benefit from modern, efficient, and user-friendly environments.

e& UAE joined as a main partner of the Fathers’ Endowment campaign; an initiative launched during Ramadan under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum. The campaign aims to establish a sustainable AED 1 billion endowment fund to provide healthcare for underprivileged patients, honouring fathers across the UAE.

As part of its contribution, e& leveraged its platforms to facilitate donations, including SMS campaigns and the Smiles app. Additionally, e& offered a selection of premium mobile numbers for auction at the Most Noble Number charity event held in Dubai.

e& life

e& life continued to shape digital experiences, pushing the boundaries of fintech, lifestyle, and entertainment through compelling innovation and AI-driven advancements.

Careem Technologies built strong momentum, with Gross Transaction Value (GTV) surging 160 per cent compared to Q1 2024. This robust growth, fueled by increased user engagement through Careem Plus, reinforced Careem’s essential role in the everyday lives of users, especially during high-demand periods like Ramadan.

e& money reached a major milestone, surpassing 1 million cards issued. Its trusted fintech platform continued to grow significantly, providing users with reliable, efficient, and secure financial interactions, driven by enhanced AI capabilities that streamlined remittance services and ensured smooth user experiences.

STARZ ON sustained powerful traction, surpassing 8 million installs and achieving impressive user engagement. The launch of evision studios in Q1 marked a strategic expansion into original content, highlighted by exclusive Ramadan originals such as “Flavors from the Heart” and “CoffeeCature,” creating culturally resonant viewing experiences and driving deeper audience connections.

e& enterprise

e& enterprise made bold strides in Q1 2025, continuing to shape the region’s digital transformation journey through strategic partnerships and future-ready technologies.

In a progressive move for smart healthcare, the business also teamed up with RAIN Technology to introduce Orva, the world’s first AI-powered Operating Room voice assistant. Now being rolled out across hospitals in the Middle East and Africa, Orva is transforming surgical workflows by improving efficiency, enhancing patient safety, and reducing operational costs. It’s a tangible example of how AI is reshaping the healthcare experience — not just for clinicians, but for patients too.

haifin, an e& enterprise company, has partnered with Vodacom Business, a unit of Vodacom South Africa, to launch Saif, a trade finance derisking platform. This platform is set to transform South Africa’s banking industry, marking a significant stride towards digital transformation and a more resilient banking ecosystem.

e& international

e& international strengthened its global position during Q1 2025 by scaling its infrastructure, investing in digital capabilities and expanding its reach into high-growth regions.

e& PPF Telecom Group strengthened its strategic collaboration with an agreement to acquire 100 per cent of Serbia Broadband (SBB), one of Central and Eastern Europe’s largest telecom and media operators.

e& played a key role in the successful landing of the Africa-1 submarine cable in Karachi, Pakistan, as part of a global consortium led by major telecom operators. Spanning 10,000 kilometres, the high-capacity cable links Pakistan with key international destinations, including the UAE, Saudi Arabia, Egypt, Kenya and France. The project reflects e&’s ongoing commitment to strengthening digital infrastructure across the region and supporting Pakistan’s Digital Vision 2030.

Furthermore, PTCL Flash Fiber maintains its number one position in fibre-to-the-home (FTTH) in Pakistan, with over 700,000 subscribers.

In January, e& Egypt announced the launch of Wi-Fi calling services in Egypt, in collaboration with the National Telecommunications Regulatory Authority. This innovative solution delivers more possibilities for customers, enabling high-quality voice calls over Wi-Fi networks with the normal minute rate charge.

In Saudi Arabia, Mobily was recognised as the Fastest Growing Telecommunications Brand in the Middle East. Mobily achieved a +140 per cent increase in brand value over the last five years.

e& PPF Telecom Group continues to earn international acclaim for mobile excellence across its European markets. Yettel Hungary was named the Fastest Mobile Network by Ookla at MWC Barcelona, while the Group received global recognition in OpenSignal’s Mobile Experience Report for outstanding performance in reliability, gaming, and voice app experience — particularly in Slovakia and Hungary, with Bulgaria and Serbia excelling in reliability.

In addition, Yettel Bulgaria secured its 8th consecutive umlaut Best-in-Test award, scoring an impressive 957/1000. The group also celebrated two silver wins at the International Customer Experience Awards, recognising Yettel’s leadership in learning and development and digital transformation. The Yettel mobile app was also recognised as the top-rated telecom app in Bulgaria with more than 1.5 million downloads and a 4.5-star rating.

The company signed an MoU with KCell JSC under the Partner Markets Programme to enhance efficiency and cost-effectiveness in joint operations. This collaboration underscores a commitment to large-scale digital transformation, leveraging advanced technologies to optimise network infrastructure for improved performance and reliability.

Nancy Sudheer (Senior Manager at e& nsudheer@eand.com) +971 50 705 5290

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SOURCE e&

Technology

Momcozy and Peanut Partner for Mother’s Day to Champion Maternal Support

Published

11 minutes ago

April 29, 2025

LOS ANGELES, April 29, 2025 /PRNewswire/ — This Mother’s Day, Momcozy, a global leader in maternal health, announces a meaningful new partnership with Peanut, the number one platform for moms seeking friendship and support. Momcozy and Peanut aim to reimagine what a “village” looks like in 2025—creating spaces where mothers are not just surviving, but thriving. The campaign introduces a special series of online sessions, known as Peanut Pods, hosted on the Peanut app.

Peanut Pros will lead these conversations as moderators to offer guidance, validation, and connection. Designed to foster honest dialogue and emotional support, Peanut Pods create a space where women can feel less alone and more understood. Four sessions will air throughout the month of May, with a new episode going live each week. Visit the campaign page for more information on episodes and to join in.

Recent findings from Momcozy’s Maternal Support Report underscore the urgency of these efforts. Over half of mothers in the U.S. report not having a consistent or strong support system. While family remains the leading source of support, only 22.7% of mothers include online communities in their support network—yet these digital spaces are increasingly vital. Additionally, nearly a third of mothers say they rarely or never connect with other moms, signaling a growing need for accessible, trusted environments where support is the norm, not the exception.

“At Momcozy, we believe that every mother deserves to feel seen, heard, and supported,” said Athena, CEO and Founder of Momcozy. “This partnership with Peanut is more than a collaboration—it’s a shared commitment to building a real community for moms everywhere. Together, we’re creating safe, honest spaces where the little things that weigh on a mom’s heart can be met with understanding, connection, and meaningful support.”

At the heart of this collaboration is the shared belief that community support can profoundly shape maternal mental health and well-being. The initiative recognizes that new moms often face emotional overwhelm and informational overload, while experienced moms seek meaningful ways to share wisdom and support others. Together, both audiences benefit from communities rooted in empathy, relatability, and empowerment.

Michelle Kennedy, Founder and CEO of Peanut, will also be featured as a guest on the Momcozy Village: Together We Grow Podcast, airing May 5th, where she’ll speak about the importance of peer-led support and redefining motherhood in the modern world. Listen to Michelle’s episode here.

“Building Peanut and supporting women when they need it most is the biggest honor of my life,” said Michelle Kennedy, CEO and Founder of Peanut. “So when brands like Momcozy come along and share our vision for a world where every mom has the freedom to say ‘I’m struggling’ without fear or shame, I know that we’re on the same team. I’m so excited to rewrite the narrative around motherhood with this partnership”.

About Momcozy
Since its founding in 2018, Momcozy has become a leader in the FemTech industry, offering innovative products that support mothers and babies from pregnancy through postpartum and beyond. Known for its groundbreaking wearable breast pumps, nursing bras, and other essential products, Momcozy has redefined maternal care and comfort for modern mothers. Loved by over 3.5 million mothers in 60 countries, Momcozy’s products are available on major retail platforms such as Babylist, Walmart, Target, and Amazon, as well as on their official website. To learn more, visit www.momcozy.com.

About Peanut
Peanut is the first online community to connect women throughout all stages of motherhood. Whether you’re navigating menopause, motherhood, pregnancy or are trying to conceive, the app provides access to a community who are there to listen, share information and offer valuable advice – 90% of US women say Peanut helps them feel heard, connected and understood. To learn more about Peanut’s community, please visit: www.peanut-app.io. With recent accolades including App Store’s App of the Day in the US April 2025, Fast Company’s Most Innovative Companies 2023, TIME100’s Most Influential Companies of 2022 and Apple’s Trend of the Year 2021, Peanut has become a coveted destination for women looking to connect, ask questions and find support.

Press Contact:
Eden Cali
edencali@momcozy.com

View original content:https://www.prnewswire.com/news-releases/momcozy-and-peanut-partner-for-mothers-day-to-champion-maternal-support-302441655.html

SOURCE Momcozy

Technology

Research Solutions to Announce Third Quarter Fiscal 2025 Results on Thursday, May 8, 2025

Published

11 minutes ago

April 29, 2025

HENDERSON, Nev., April 29, 2025 /PRNewswire/ — Research Solutions, Inc. (NASDAQ: RSSS), the leading AI-powered research workflow platform, will hold a conference call to discuss its financial results for the fiscal 2025 third quarter ended March 31, 2025, on Thursday, May 8, 2025, at 5:00 p.m. ET. A press release containing the company’s financial results will be issued following the market close and prior to the call.

Research Solutions President and CEO Roy W. Olivier and CFO Bill Nurthen will host the conference call, followed by a question and answer period.

Date: Thursday, May 8, 2025
Time: 5:00 p.m. ET (2:00 p.m. PT)
Dial-in number: 1-203-518-9843
Conference ID: RESEARCH

Please dial into the conference 5-10 minutes prior to the start time. An operator will register your name and organization. The conference call will be broadcast live and available for replay via the investor relations section of the company’s website at http://researchsolutions.investorroom.com.

A replay of the conference call will be available after 8:00 p.m. Eastern time on the same day through June 8, 2025. To access the replay, dial 1-412-317-6671 and use replay ID 11158769.

About Research Solutions
Research Solutions, Inc. (NASDAQ: RSSS) is a vertical SaaS and AI company that simplifies research workflow for academic institutions, life science companies, and research organizations worldwide. As one of the only publisher-independent marketplaces for scientific, technical, and medical (STM) content, the company uniquely combines AI-powered tools—including an intelligent research assistant and full-text search capabilities—with seamless access to both open access and paywalled research. The platform enables organizations to discover, access, manage and analyze scientific literature more efficiently, accelerating the pace of scientific discovery. For more information and details, please visit www.researchsolutions.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/research-solutions-to-announce-third-quarter-fiscal-2025-results-on-thursday-may-8-2025-302441656.html

SOURCE Research Solutions, Inc.