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Digital Turbine Reports Fiscal 2024 Fourth Quarter and Fiscal Year 2024 Financial Results

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4 months ago

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Fourth Quarter Revenue Totaled $112.2 Million and Fiscal 2024 Revenue Totaled $544.5 Million

Fourth Quarter GAAP Net Loss of $236.5 Million, or GAAP EPS of ($2.32), Inclusive of a Noncash Goodwill Impairment Charge of $189.5 Million; Fourth Quarter Non-GAAP Adjusted Net Income1 of $12.6 Million and Non-GAAP Adjusted EPS1 of $0.12

Fourth Quarter Non-GAAP Adjusted EBITDA2 Totaled $12.3 Million and Fiscal 2024 Non-GAAP Adjusted EBITDA2 Totaled $92.4 Million

AUSTIN, Texas, May 28, 2024 /PRNewswire/ — Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal fourth quarter and fiscal year ended March 31, 2024.

Recent Financial Highlights:

Fiscal fourth quarter of 2024 revenue totaled $112.2 million, representing a year-over-year decline of 20% as compared to the fiscal fourth quarter of 2023.

GAAP net loss for the fiscal fourth quarter of 2024 was $236.5 million, or ($2.32) per share, as compared to GAAP net loss for the fiscal fourth quarter of 2023 of $13.9 million, or ($0.14) per share. GAAP net loss for the fiscal fourth quarter included a noncash goodwill impairment charge of $189.5 million. Non-GAAP adjusted net income1 for the fiscal fourth quarter of 2024 was $12.6 million, or $0.12 per share, as compared to Non-GAAP adjusted net income1 of $13.6 million, or $0.14 per share, in the fiscal fourth quarter of 2023.

GAAP net loss for fiscal 2024 was $420.4 million, or ($4.16) per share, as compared to GAAP net income for fiscal 2023 of $16.9 million, or $0.16 per share. GAAP net loss for fiscal 2024 included a noncash goodwill impairment charge of $336.6 million. Non-GAAP adjusted net income1 for fiscal 2024 was $60.3 million, or $0.58 per share, as compared to Non-GAAP adjusted net income1 of $117.4 million, or $1.15 per share, in fiscal 2023.

Non-GAAP adjusted EBITDA2 for the fiscal fourth quarter of 2024 was $12.3 million, as compared to Non-GAAP adjusted EBITDA2 of $23.1 million in the fiscal fourth quarter of 2023. Non-GAAP adjusted EBITDA2 for fiscal 2024 was $92.4 million, as compared to Non-GAAP adjusted EBITDA2 of $163.2 million in fiscal 2023.

New partnerships are set to add more than 70 million new devices globally.

“We are seeing encouraging real-time momentum in the marketplace that we believe validates our strategy and positions the Company for a return to growth in the new fiscal year,” said Bill Stone, CEO. “We have recently secured additional global device supply that we believe will help to offset recent headwinds as a result of decade-low upgrade-rates and selective app distribution limitations in the U.S. In addition to adding new devices, we are adding complementary new features on many existing devices, with momentum in the area of alternative app distribution. Recent wins on the media and advertiser side are proof points that our newly re-engineered ad tech platform is now performing at a level at which it is well-positioned to gain market share. Operationally, we have successfully modernized key product functionality and added new leadership personnel that we believe will be integral to sustained growth in the future. Our financial results reported today fail to reflect much of the real-time progress that we are making. We are increasingly convinced that we are on the right track with our overarching corporate strategy, and consequently, we are seeing signs of greater market demand for our unique product offerings that we expect will promote top-line growth, enhanced operating leverage and improved free cash flow generation for the Company in future periods.”

Fiscal 2024 Fourth Quarter Financial Results

Total revenue for the fourth quarter of fiscal 2024 was $112.2 million. Total On Device Solutions revenue before intercompany eliminations was $78.5 million. Total App Growth Platform revenue before intercompany eliminations was $34.4 million.

GAAP net loss for the fourth quarter of fiscal 2024 was $236.5 million, or ($2.32) per share, as compared to GAAP net loss for the fourth quarter of fiscal 2023 of $13.9 million, or ($0.14) per share. GAAP net loss for the fourth quarter of fiscal 2024 included a noncash goodwill impairment charge of $189.5 million.

Non-GAAP adjusted net income1 for the fourth quarter of fiscal 2024 was $12.6 million, or $0.12 per share, as compared to Non-GAAP adjusted net income1 of $13.6 million, or $0.14 per share, in the fourth quarter of fiscal 2023.

Non-GAAP adjusted EBITDA2 for the fourth quarter of fiscal 2024 was $12.3 million, as compared to Non-GAAP adjusted EBITDA2 for the fourth quarter of fiscal 2023 of $23.1 million.

Full Year Fiscal 2024 Financial Results

Total revenue for fiscal 2024 was $544.5 million. Total On Device Solutions revenue before intercompany eliminations was $370.1 million. Total App Growth Platform revenue before intercompany eliminations was $178.8 million.

GAAP net loss for fiscal 2024 was $420.4 million, or ($4.16) per share, as compared to GAAP net income for fiscal 2023 of $16.9 million, or $0.16 per share. GAAP net loss for fiscal 2024 included a noncash goodwill impairment charge of $336.6 million.

Non-GAAP adjusted net income1 for fiscal 2024 was $60.3 million, or $0.58 per share, as compared to Non-GAAP adjusted net income1 of $117.4 million, or $1.15 per share, in fiscal 2023.

Non-GAAP adjusted EBITDA2 for fiscal year 2024 was $92.4 million, as compared to Non-GAAP adjusted EBITDA2 for fiscal year 2023 of $163.2 million. The reconciliations between GAAP and Non-GAAP financial results for all referenced periods are provided in the tables immediately following the Unaudited Consolidated Statements of Cash Flows below.

Business Outlook

Based on information available as of May 28, 2024, and considering the ongoing uncertainties in the macro environment, the Company currently expects the following for fiscal year 2025:

Revenue of between $540 million and $560 millionNon-GAAP adjusted EBITDA2 of between $85 million and $95 million

It is not reasonably practicable to provide a business outlook for GAAP net income because the Company cannot reasonably estimate the changes in stock-based compensation expense, which is directly impacted by changes in the Company’s stock price, or other items that are difficult to predict with precision.

About Digital Turbine, Inc.

Digital Turbine empowers superior mobile consumer experiences and results for the world’s leading telcos, advertisers, and publishers. Its end-to-end platform uniquely simplifies its partners’ abilities to supercharge awareness, acquisition, and monetization – connecting them with more consumers, in more ways, across more devices. Digital Turbine is headquartered in North America, with offices around the world. For additional information visit www.digitalturbine.com.

Conference Call

Management will host a conference call and webcast today at 4:30p ET to discuss its fiscal 2024 fourth quarter financial results and provide operational updates on the business. The conference call will discuss forward guidance and other material information. The call can be accessed online via the webcast link: https://app.webinar.net/a58rLm9LDgx. The call can also be accessed by dialing 888-317-6003 in the United States (or 412-317-6061 from international locations) and entering access code 7883119.

A playback will be available through June 4, 2024. The replay can be accessed by dialing 877-344-7529 in the United States or 412-317-0088 from international locations, passcode 4435511.  An online webcast will be archived for a period of one year, and is available via the Investor Relations section of Digital Turbine’s website.

Use of Non-GAAP Financial Measures

To supplement the Company’s consolidated financial statements presented in accordance with GAAP, Digital Turbine uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP adjusted net income and earnings per share (“EPS”), non-GAAP adjusted EBITDA, non-GAAP free cash flow and non-GAAP gross profit. Reconciliations to the nearest GAAP measures of all non-GAAP measures included in this press release can be found in the tables below.

Non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance, prospects for the future and as a means to evaluate period-to-period comparisons. The Company believes that these non-GAAP measures provide meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results. The Company believes the non-GAAP measures that exclude such items when viewed in conjunction with GAAP results and the accompanying reconciliations enhance the comparability of results against prior periods and allow for greater transparency of financial results. The Company believes non-GAAP measures facilitate management’s internal comparison of its financial performance to that of prior periods as well as trend analysis for budgeting and planning purposes. The presentation of non-GAAP measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

1Non-GAAP adjusted net income and EPS are defined as GAAP net income and EPS adjusted to exclude the effect of stock-based compensation expense, amortization of intangibles, business transformation costs, transaction-related expenses, severance costs, tax adjustments, impairment of goodwill, and adjustments acquisition-related liabilities and earn-out liabilities. Readers are cautioned that non-GAAP adjusted net income and EPS should not be construed as an alternative to comparable GAAP net income figures determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.

2Non-GAAP adjusted EBITDA is calculated as GAAP net income excluding the following cash and non-cash expenses: stock-based compensation expense, depreciation and amortization, net interest income (expense), net other income (expense), change in fair value of contingent consideration, business transformation costs, foreign exchange transaction gains (losses), income tax (benefit) provision, transaction-related expenses, severance costs, impairment of goodwill, and adjustments to acquisition-related liabilities. Non-GAAP adjusted EBITDA margin is calculated as non-GAAP adjusted EBITDA as a percentage of total revenue. Readers are cautioned that non-GAAP adjusted EBITDA should not be construed as an alternative to net income determined in accordance with U.S. GAAP as an indicator of performance, which is the most comparable measure under GAAP.

3Non-GAAP free cash flow, which is a non-GAAP financial measure, is defined as net cash provided by operating activities (as stated in our Consolidated Statements of Cash Flows), excluding transaction-related expenses, severance costs and business transformation costs, reduced by capital expenditures. Readers are cautioned that free cash flow should not be construed as an alternative to net cash provided by operating activities determined in accordance with U.S. GAAP as an indicator of profitability, performance or liquidity, which is the most comparable measure under GAAP.

4Non-GAAP gross profit is defined as GAAP income from operations adjusted to exclude the effect of product development costs, sales and marketing costs, general and administrative costs, depreciation of software, and impairment of goodwill. Readers are cautioned that non-GAAP gross profit should not be construed as an alternative to income from operations determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.

Non-GAAP adjusted EBITDA, non-GAAP adjusted net income and EPS, non-GAAP free cash flow and non-GAAP gross profit are used by management as internal measures of profitability and performance. They have been included because the Company believes that the measures are used by certain investors to assess the Company’s financial performance before non-cash charges and certain costs that the Company does not believe are reflective of its underlying business.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are not statements of historical fact and that concern future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events, including financial projections and growth in various products are forward-looking statements that speak only as of the date made and which involve known and unknown risks, uncertainties and other factors which may, should one or more of these risks uncertainties or other factors materialize, cause actual results to differ materially from those expressed or implied by such statements. These factors and risks include:

Risks Specific to our Business

We have a history of net lossesWe have a limited operating history for our current portfolio of assets.Growth may place significant demands on our management and our infrastructure.Our operations are global in scope, and we face added business, political, regulatory, legal, operational, financial and economic risks as a result of our international operations.Our financial results could vary significantly from quarter-to-quarter and are difficult to predict.A significant portion of our revenue is derived from a limited number of wireless carriers and customers.The risk of impairment of our goodwill.The effects of the current and any future general downturns in the U.S. and the global economy, including financial market disruptions.Our products, services and systems rely on software that is highly technical, and if it contains errors or viruses, our business could be adversely affected.Our business may involve the use, transmission and storage of confidential information and personally identifiable information, and the failure to properly safeguard such information could result in significant reputational harm and monetary damages.Our business and reputation could be impacted by information technology system failures and network disruptionsSystem security risks and cyber-attacks could disrupt our internal operations or information technology services provided to customers.Our business and growth may suffer if we are unable to hire and retain key talent.If we are unable to maintain our corporate culture, our business could be harmed.If we make future acquisitions, this could require significant management attention and disrupt our business.Adverse effects of negative developments affecting the financial services industry, including events or concerns involving liquidity, defaults, or non-performance by financial institutions.Entry into new lines of business, and our offering of new products and services, resulting from our investments may result in exposure to new risks.Litigation may harm out business.

Risks Related to the Mobile Advertising Industry

The mobile advertising business is an intensely competitive industry, and we may not be able to compete successfully.The markets for our products and services are rapidly evolving and may decline or experience limited growth.Our business is dependent on the continued growth in usage of smartphones and other mobile connected devices.Wireless technologies are changing rapidly, and we may not be successful in working with these new technologies.The complexity of and incompatibilities among mobile devices may require us to use additional resources for the development of our products and services.If wireless subscribers do not continue to use their mobile devices to access mobile content and other applications, our business growth and future revenue may be adversely affected.A shift of technology platform by wireless carriers and mobile device manufacturers could lengthen the development period for our offerings, increase our costs, and cause our offerings to be published later than anticipated.Actual or perceived security vulnerabilities in devices or wireless networks could adversely affect our revenue.We may be subject to legal liability associated with providing mobile and online services.Risks of public health issues, such as a major epidemic or pandemic.Risk related to geopolitical conditions and the global economy, including conflicts, financial markets, and inflation.Risk related to the geopolitical relationship between the U.S. and China or changes in China’s economic and regulatory landscape.

Industry Regulatory Risks

We are subject to rapidly changing and increasingly stringent laws, regulations and contractual requirements related to privacy, data security, and protection of children.We are subject to anti-corruption, import/export, government sanction, and similar laws, especially related to our international operations.Government regulation of our marketing methods could restrict or prevent our ability to adequately advertise and promote our content, products and services available in certain jurisdictions.Regulatory requirements pertaining to the marketing, advertising, and promotion of our products and services.Governmental regulation of our marketing methods.Privacy-related litigation and fines.

Risks Related to Our Intellectual Property and Potential Liability

Third parties may obtain and improperly use our intellectual property; and if so, our competitive position may be adversely affected, particularly if we do not, or are unable to, adequately protect our intellectual property rightsThird parties may sue us for intellectual property infringement, which may prevent or limit our use of the intellectual property and disrupt our business and could require us to pay significant damage awards.Our platform contains open source software.Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, damages caused by malicious software, and other losses.

Risks Relating to Our Common Stock and Capital Structure

We have secured and unsecured indebtedness, which could limit our financial flexibility.To service our debt and fund our other obligations and capital requirements, we will require a significant amount of cash, and our ability to generate cash will depend on many factors beyond our control.The market price of our common stock is likely to be highly volatile and subject to wide fluctuations, and you may be unable to resell your shares at or above the current price or the price at which you purchased your shares.Risk of not being able to raise capital to grow our business.Risk to trading volume of lack of securities or industry analysts research coverage.A material weakness in our internal control over financial reporting and disclosure controls and procedures could, if not remediated, result in material misstatements in our financial statements.Maintaining and improvising financial controls and being a public company may strain resources.Anti-takeover provisions in our charter documents could make an acquisition of our company more difficult.Our bylaws designate Delaware as the exclusive forum for certain disputes.Other risks described in the risk factors in Item 1A of our latest Annual Report on Form 10-K under the heading “Risk Factors” and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.

You should not place undue reliance on these forward-looking statements. The Company does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:
Brian Bartholomew
Digital Turbine, Inc.
brian.bartholomew@digitalturbine.com

 

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income

(Unaudited)

(in thousands, except share and per share amounts)

Three months ended March 31,

Year ended March 31,

2024

2023

2024

2023

Net revenue

$   112,223

$   140,118

$   544,482

$   665,920

Costs of revenue and operating expenses

Revenue share

53,551

71,629

262,226

309,247

Other direct costs of revenue

7,555

9,007

34,799

36,445

Product development

11,284

13,399

54,157

56,486

Sales and marketing

15,935

15,278

61,481

63,295

General and administrative

42,278

39,954

169,617

154,282

Impairment of goodwill

189,459

—

336,640

—

Total costs of revenue and operating expenses

320,062

149,267

918,920

619,755

(Loss) income from operations

(207,839)

(9,149)

(374,438)

46,165

Interest and other income (expense), net

Change in fair value of contingent consideration

—

—

372

—

Interest expense, net

(7,938)

(7,128)

(30,838)

(23,352)

Foreign exchange transaction gain (loss)

(54)

(431)

101

(1,026)

Other expense, net

(261)

(163)

(328)

229

Total interest and other expense, net

(8,253)

(7,722)

(30,693)

(24,149)

(Loss) income before income taxes

(216,092)

(16,871)

(405,131)

22,016

Income tax provision

20,414

(3,018)

15,317

5,146

Net (loss) income

(236,506)

(13,853)

(420,448)

16,870

Less: net (loss) income attributable to non-controlling interest

—

79

(220)

197

Net (loss) income to Digital Turbine, Inc.

(236,506)

(13,932)

(420,228)

16,673

Other comprehensive income (loss)

Foreign currency translation adjustment

(2,462)

2,258

(6,271)

(2,386)

Comprehensive (loss) income

(238,968)

(11,595)

(426,719)

14,484

Less: comprehensive income (loss) attributable to non-controlling interest

—

81

519

415

Comprehensive (loss) income attributable to Digital Turbine, Inc.

$ (238,968)

$   (11,676)

$ (427,238)

$     14,069

Net (loss) income per common share

Basic

$       (2.32)

$       (0.14)

$       (4.16)

$         0.17

Diluted

$       (2.32)

$       (0.14)

$       (4.16)

$         0.16

Weighted-average common shares outstanding

Basic

101,974

99,273

100,975

98,783

Diluted

101,974

100,712

100,975

101,816

 

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands, except par value and share amounts)

March 31, 2024

March 31, 2023

(Unaudited)

ASSETS

Current assets

Cash

$               33,605

$             75,558

Accounts receivable, net

191,015

178,189

Prepaid expenses

7,704

8,589

Other current assets

10,017

3,730

Total current assets

242,341

266,066

Property and equipment, net

45,782

39,327

Right-of-use assets

9,127

10,073

Intangible assets, net

313,505

379,632

Goodwill

220,072

561,576

Other non-current assets

34,713

9,882

TOTAL ASSETS

$             865,540

$        1,266,556

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable

$             159,200

$           119,338

Accrued revenue share

33,934

69,221

Accrued compensation

7,209

10,984

Other current liabilities

35,681

21,377

Total current liabilities

236,024

220,920

Long-term debt, net of debt issuance costs

383,490

410,522

Deferred tax liabilities, net

20,424

13,940

Other non-current liabilities

11,670

13,919

Total liabilities

651,608

659,301

Commitments and contingencies

Stockholders’ equity

Preferred stock

Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares authorized, 100,000 issued and
outstanding (liquidation preference of $1)

100

100

Common stock

$0.0001 par value: 200,000,000 shares authorized; 102,877,057 issued and 102,118,932 outstanding at
March 31, 2024; 100,216,494 issued and 99,458,369 outstanding at March 31, 2023

10

10

Additional paid-in capital

858,191

822,217

Treasury stock (758,125 shares at March 31, 2024 and March 31, 2023)

(71)

(71)

Accumulated other comprehensive loss

(48,955)

(41,945)

Accumulated deficit

(595,343)

(175,115)

Total stockholders’ equity

213,932

605,196

Non-controlling interest

—

2,059

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$             865,540

$        1,266,556

 

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

Three months ended March 31,

2024

2023

Cash flows from operating activities:

Net (loss) income

$        (236,506)

$          (13,853)

Adjustments to reconcile net (loss) income to net cash provided by operating activities:

Depreciation and amortization

20,924

20,926

Non-cash interest expense

(531)

217

Allowance for credit losses

627

319

Stock-based compensation expense

6,743

10,758

Right-of-use asset

361

793

Deferred income taxes

15,909

(3,545)

Foreign exchange transaction (gain) loss

54

(1,607)

Impairment of goodwill

189,459

—

(Increase) decrease in assets:

Accounts receivable, gross

25,176

51,077

Prepaid expenses

2,920

1,595

Other current assets

(220)

17,809

Other non-current assets

(190)

(736)

Increase (decrease) in liabilities:

Accounts payable

108

(34,718)

Accrued revenue share

(32,119)

(5,678)

Accrued compensation

(111)

(5,097)

Other current liabilities

(2,628)

(21,828)

Other non-current liabilities

(1,732)

(570)

Net cash provided by (used in) operating activities

(11,756)

15,862

Cash flows from investing activities

Equity investments

(9,956)

(4,499)

Capital expenditures

(6,895)

(5,260)

Net cash used in investing activities

(16,851)

(9,759)

Cash flows from financing activities

Proceeds from borrowings

25,000

7,500

Payment of debt issuance costs

—

(5)

Repayment of debt obligations

(15,000)

(19,500)

Payment of withholding taxes for net share settlement of equity awards

(110)

(507)

Options exercised

85

925

Net cash provided by (used in) financing activities

9,975

(11,587)

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

2,772

1,181

Net change in cash and cash equivalents and restricted cash

(15,860)

(4,303)

Cash and cash equivalents and restricted cash, beginning of period

49,465

79,861

Cash and cash equivalents and restricted cash, end of period

$            33,605

$            75,558

 

REVENUE BY SEGMENT

(in thousands)

(Unaudited)

Three months ended March 31,

Year ended March 31,

2024

2023

% Change

2024

2023

% Change

On Device Solutions

$           78,504

$           96,909

(19) %

$         370,112

$         420,328

(12) %

App Growth Platform

34,437

44,966

(23) %

178,760

252,995

(29) %

Elimination

(718)

(1,757)

(59) %

(4,390)

(7,403)

(41) %

Consolidated

$         112,223

$         140,118

(20) %

$         544,482

$         665,920

(18) %

 

GAAP (LOSS) INCOME FROM OPERATIONS TO NON-GAAP GROSS PROFIT

(in thousands)

(Unaudited)

Three months ended March 31,

Year ended March 31,

2024

2023

2024

2023

Net revenue

$      112,223

$      140,118

$      544,482

$      665,920

(Loss) income from operations

(207,839)

(9,149)

(374,438)

46,165

Add-back items:

Product development

11,284

13,399

54,157

56,486

Sales and marketing

15,935

15,278

61,481

63,295

General and administrative

42,278

39,954

169,617

154,282

Depreciation of software included in other direct costs of revenue

208

1,694

4,045

6,275

Impairment of goodwill

189,459

—

336,640

—

Non-GAAP gross profit

$        51,325

$        61,176

$      251,502

$      326,503

Non-GAAP gross profit percentage

46 %

44 %

46 %

49 %

GAAP NET (LOSS) INCOME TO NON-GAAP ADJUSTED NET INCOME

(in thousands)

(Unaudited)

Three months ended March 31,

Year ended March 31,

2024

2023

2024

2023

Net (loss) income

$    (236,506)

(13,853)

$    (420,448)

$        16,870

Add-back items:

Stock-based compensation expense

6,743

10,758

33,763

30,401

Amortization of intangibles

16,039

16,126

64,321

64,608

Adjustment to estimated earn-out liability

—

—

(372)

—

Tax adjustment (1)

33,817

—

33,817

—

Business transformation costs

2,127

—

9,418

—

Transaction-related expenses

177

859

338

4,739

Severance costs

710

1,066

2,795

2,176

Impairment of goodwill

189,459

—

336,640

—

Adjustment to acquisition-related liabilities

—

(1,346)

—

(1,346)

Non-GAAP adjusted net income

$        12,566

$        13,610

$        60,272

$      117,448

Non-GAAP adjusted net income per common share

$            0.12

$            0.14

$            0.58

$            1.15

Weighted-average common shares outstanding, diluted

103,451

100,712

103,928

101,816

(1) Valuation allowance

 

GAAP NET (LOSS) INCOME TO NON-GAAP ADJUSTED EBITDA

(in thousands)

(Unaudited)

Three months ended March 31,

Year ended March 31,

2024

2023

2024

2023

Net (loss) income

$        (236,506)

$          (13,853)

$       (420,448)

$           16,870

Add-back items:

Stock-based compensation expense

6,743

10,758

33,763

30,401

Depreciation and amortization

20,924

20,926

83,858

81,073

Interest expense, net

7,938

7,128

30,838

23,352

Other expense, net

261

163

328

(229)

Change in fair value of contingent consideration

—

—

(372)

—

Business transformation costs

2,127

—

9,418

—

Foreign exchange transaction (gain) loss

54

431

(101)

1,026

Income tax provision

20,414

(3,018)

15,317

5,146

Transaction-related expenses

177

859

338

4,739

Severance costs

710

1,066

2,795

2,176

Impairment of goodwill

189,459

—

336,640

—

Adjustment to acquisition-related liabilities

—

(1,346)

—

(1,346)

Non-GAAP adjusted EBITDA

$            12,301

$            23,114

$           92,374

$         163,208

 

GAAP CASH FLOW FROM OPERATING ACTIVITIES TO NON-GAAP FREE CASH FLOW

(in thousands)

(Unaudited)

Three months ended March 31,

2024

2023

Net cash provided by (used in) operating activities

$          (11,756)

$            15,862

Capital expenditures

(6,895)

(5,260)

Transaction-related expenses

177

859

Severance costs

710

1,066

Business transformation costs

2,127

—

Non-GAAP free cash flow provided (used) by operations

$          (15,637)

$            12,527

 

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Technology

Global Ultrasound Institute (GUSI) Unveils POCUS Essentials Plus Simulation: A Game-Changing Advancement in Point-of-Care Ultrasound Training

Published

17 mins ago

on

September 20, 2024

By

Partnership with e-Sono (3B Scientific) Delivers Unmatched Learning Experience with Over 1,000 Case-Based Simulations and Comprehensive Educational Resources

SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — Global Ultrasound Institute (GUSI), the leading provider of point-of-care ultrasound (POCUS) education and training, is thrilled to announce the launch of its latest innovation, POCUS Essentials Plus Simulation. This groundbreaking product is the result of a strategic partnership with e-Sono, a division of 3B Scientific, and promises to revolutionize ultrasound training by combining GUSI’s premier learning resources with e-Sono’s extensive simulation library.

GUSI introduces Simulation-enhanced online POCUS courses

POCUS Essentials Plus Simulation offers an unparalleled educational experience by integrating GUSI’s complete learning library, which includes POCUS Essentials Courses across acute and primary care, pediatrics, obstetrics, and musculoskeletal ultrasound. Learners can now access detailed training on over 30 anatomical regions through hundreds of lectures delivered by leading POCUS experts.

“POCUS Essentials Plus Simulation is a significant leap forward in ultrasound education,” said Dr. Mena Ramos, co-CEO of GUSI. “Our collaboration with e-Sono allows us to offer a truly immersive learning experience that combines high-quality content with cutting-edge simulation technology. We are excited to provide healthcare professionals with the tools they need to excel in real-world clinical settings.”

The product also features advanced case-based clinical integration developed by POCUS clinical experts, along with robust anatomical coverage, including cross-sectional imaging. The inclusion of e-Sono’s comprehensive Sim Library, featuring more than 1,000 case-based ultrasound simulations, allows learners to practice scanning techniques and visualize pathology in a dynamic, interactive environment.

“The integration of digital simulation brings clinical anatomy and ultrasound images to life by allowing clinicians to see and correlate them in real time,” says Dr. Nicholas LeFevre, a fellowship-trained, active POCUS educator and Associate Professor of Family and Community Medicine at the University of Missouri.

“POCUS is an essential extension of our clinical evaluation. To master it, we must immerse ourselves in simulation-based education that reflects real patient care.”

– Sahar Ahmad. M.D., Associate Professor of Medicine and Director of Medical Intensive Care Unit at Stony Brook University Hospital; Director, Ultrasound & Critical Care Education; Chair, Ultrasound Education Task Force, Renaissance School of Medicine at Stony Brook University

In addition to its educational resources, POCUS Essentials Plus Simulation includes all the features of GUSI’s ScanHub learning platform, such as Sage AI for on-demand expert answers, the ScanFolio device-independent scan archive and feedback system, a performance dashboard, and QBanks with thousands of questions and pathologic videos. The program is eligible for over 50 hours of Continuing Medical Education (CME) credits, further enhancing its value to healthcare professionals.

Fourth year med student at Touro University California Medical School Jori Enfield adds, “As a medical student, the POCUS Essentials Plus Simulation has been a great addition to my POCUS training. The interactive design has helped reinforce key concepts and boosted my confidence in identifying and interpreting anatomical structures through real-time ultrasound practice. The ability to practice independently, without needing an ultrasound model or instructor, provided both convenience and an effective way to build my skills. This program has greatly enhanced my ability to integrate POCUS into clinical rotations.”

Dr. Kevin Bergman, GUSI co-CEO added, “POCUS Essentials Plus Simulation sets a new standard for ultrasound training. The combination of extensive lectures, dynamic and interactive simulations, and expert clinical integration prepares learners for real-life applications in a way that traditional methods simply cannot match.”

For more information about the POCUS Essentials plus Simulation or any of GUSI services, please visit https://globalultrasoundinstitute.com/

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

About e-Sono (3B Scientific):

e-Sono, a division of 3B Scientific, specializes in advanced simulation technologies for medical education. With a focus on providing high-quality, interactive learning experiences, e-Sono supports the development of essential clinical skills through its extensive library of case-based ultrasound simulations and educational tools.

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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Technical Support Outsourcing Market to Grow by USD 17.3 Billion (2024-2028) as Demand for Cost-Efficient Solutions Rises, AI Drives Market Transformation- Technavio

Published

17 mins ago

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September 20, 2024

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global technical support outsourcing market size is estimated to grow by USD 17.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 7.99%  during the forecast period. Increasing need for cost-effective solutions to improve efficiency is driving market growth, with a trend towards emergence of chatbots. However, outsourcing can compromise quality of technical support  poses a challenge. Key market players include Aress Software and Education Technologies P Ltd., Computer Generated Solutions Inc., CSS Corp., Essentiel Outsourcing S.L., Flatworld Solutions Pvt. Ltd., Genpact Ltd., Global response Corp., HCL Technologies Ltd., IBN Technologies Ltd., Infosys Ltd., International Business Machines Corp., Invensis Technologies Pvt. Ltd., ISPL Support Services, Qcom Outsourcing Ltd., StarTek Inc., Suma Soft Pvt. Ltd., Tata Consultancy Services Ltd., Telegenisys Inc., Wipro Ltd., and Worldwide Call Centers Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Technical Support Outsourcing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.99%

Market growth 2024-2028

USD 17.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

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

Performing market contribution

APAC at 58%

Key countries

China, Brazil, India, Germany, and Argentina

Key companies profiled

Aress Software and Education Technologies P Ltd., Computer Generated Solutions Inc., CSS Corp., Essentiel Outsourcing S.L., Flatworld Solutions Pvt. Ltd., Genpact Ltd., Global response Corp., HCL Technologies Ltd., IBN Technologies Ltd., Infosys Ltd., International Business Machines Corp., Invensis Technologies Pvt. Ltd., ISPL Support Services, Qcom Outsourcing Ltd., StarTek Inc., Suma Soft Pvt. Ltd., Tata Consultancy Services Ltd., Telegenisys Inc., Wipro Ltd., and Worldwide Call Centers Inc.

Market Driver

The technical support outsourcing market is experiencing growth due to the rising adoption of chatbots in various industries. These AI-powered tools offer a quick and efficient way for businesses to communicate with their customers, providing instant responses and reducing the need for on-site repair personnel. Machine Learning as a Service (MLaaS) is a key technology driving this trend, enabling chatbots to understand customer situations and generate appropriate responses in real time. Additionally, MLaaS can predict demand for services, providing enterprises with valuable insights and improving customer experience. Sectors such as retail, BFSI, and healthcare, which generate large amounts of data, are particularly benefiting from this integration. As a result, the global technical support outsourcing market is expected to expand significantly during the forecast period. 

The Technical Support Outsourcing market is thriving, with trends like chat boxes and virtual help desks revolutionizing customer interactions. Independent software vendors and SMEs are outsourcing technical support to cut operating expenses and access qualified personnel. The help desk system is becoming more sophisticated, with a tiered staffing structure including Tier 1 staff for basic queries. In the retail, BFSI, hospitality, and eCommerce industries, customer databases are driving the need for efficient technical support. Emerging technologies like quantum computing, electronic billing, and digital payment systems require specialized expertise. Call volume management is crucial, with CRM systems helping to streamline processes. Personnel training and system upgrades are ongoing priorities. In-house resources may not always have the technical skills needed for complex issues, making outsourcing an attractive option. The market is dynamic, with trends like user-friendly services and office space requirements shaping the landscape. Broken servers and other IT issues can cause significant downtime, making quick First Call Resolution essential. Overall, Technical Support Outsourcing is an essential strategy for businesses looking to stay competitive in today’s digital world. 

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Market Challenges

Technical support outsourcing allows enterprises to delegate their customer service needs to third-party companies. However, this arrangement comes with challenges. Quality issues may arise due to the lack of direct control over the services provided. Consumers’ expectations may not always be met, leading to dissatisfaction. Moreover, hidden costs and inefficiencies can increase the overall expense. These factors impact the quality of services delivered to end-users, posing a significant challenge for service providers in the technical support outsourcing market. Despite these hurdles, the market is expected to grow due to factors such as cost savings and access to specialized expertise. However, addressing the aforementioned challenges is crucial for ensuring customer satisfaction and market success.Technical support outsourcing has become a popular solution for various industries including retail, BFSI, hospitality, eCommerce, and more. Outsourcing technical support allows businesses to focus on their core competencies while experts handle IT issues. However, challenges persist. In industries like retail and BFSI, managing customer databases and ensuring data security are crucial. Emerging technologies like quantum computing, electronic billing, and digital payment systems require technical expertise. User-friendly services, office space, and system upgrades also demand attention. Training, broken servers, and outsourcing maintenance are common challenges. Global SMEs and independent software vendors seek cost-effective ways to provide quality technical support. Policies, strategies, and initiatives are essential for addressing data breaches and financial harm. Internal IT teams face employee capability limitations, accessibility issues, and business plan alignment. Consumer technical support requires digital technology proficiency, social media savvy, and online platform expertise. Smart computing devices, cost-effective ways, and global digital transformation call for automation and technical expertise.

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Segment Overview 

This technical support outsourcing market report extensively covers market segmentation by

Type 1.1 Help desk1.2 Call centerBusiness Segment2.1 Large enterprises2.2 SMEsGeography 3.1 APAC3.2 South America3.3 Europe3.4 North America3.5 Middle East and Africa

1.1 Help desk-  The Technical Support Outsourcing Market continues to grow, with businesses increasingly turning to external providers for cost savings and expertise. Outsourcing allows companies to focus on their core competencies while receiving reliable and efficient technical support services. Service providers offer 24/7 support, multilingual capabilities, and advanced technology solutions. This partnership results in improved customer satisfaction and operational efficiency for businesses.

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Research Analysis

Technical support outsourcing refers to the practice of companies contracting third-party providers to manage and resolve their customers’ technology-related issues. In various industries like retail, BFSI, hospitality, eCommerce, and more, outsourcing technical support has become a cost-effective way to improve customer experience and focus on core business functions. With the rise of digital technology, emerging technologies such as quantum computing, electronic billing, and digital payment systems are increasingly being adopted. This creates a need for user-friendly services and efficient technical support. Outsourcing technical support allows companies to access skilled professionals and keep up with system upgrades and training. Broken servers, internet service, smart computing devices, and software projects require constant attention. Social media and online platforms add another layer of complexity. Technical support outsourcing providers offer maintenance and helpdesk services, ensuring that businesses can provide uninterrupted services to their customers. The global digital transformation trend drives the demand for outsourcing technical support. Companies can save on office space and costs while ensuring that their customers’ queries are addressed promptly and efficiently. Consumer technical support is a crucial aspect of any business, and outsourcing allows companies to provide round-the-clock support, enabling them to stay competitive in the digital age.

Market Research Overview

Technical support outsourcing refers to the practice of hiring third-party providers to manage and deliver customer technical assistance services. This approach is increasingly popular among various industries, including retail, BFSI, hospitality, eCommerce, and more, due to the benefits it offers in managing customer databases and handling emerging technologies such as quantum computing, electronic billing, digital payment systems, and user-friendly services. Outsourcing technical support can help businesses save on office space and system upgrades, while also providing access to trained personnel and quality control measures. However, it’s essential to consider policies, strategies, and initiatives to ensure technical expertise, automation, and First Call Resolution (FCR) rates. Independent software vendors and global SMEs can leverage outsourcing technical support to improve technology awareness and employee capability, while also addressing issues like broken servers, data breaches, and financial harm caused by internal IT teams. With the rise of digital technology, social media, online platforms, internet services, and smart computing devices, cost-effective ways to provide technical support are becoming increasingly important. Outsourcing maintenance, app development, and software projects can help businesses stay competitive in the global digital transformation landscape. Moreover, technical support outsourcing can help businesses manage call volume, implement help desk systems, and provide virtual help desks to offer 24/7 support. A tiered staffing structure with Tier 1 staff handling basic queries and CRM systems ensuring customer interactions can lead to improved technical skills, policies, and strategies.

Table of Contents:

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

TypeHelp DeskCall CenterBusiness SegmentLarge EnterprisesSMEsGeographyAPACSouth AmericaEuropeNorth AmericaMiddle East And Africa

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

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

EV Charging Adapter Market to Grow by USD19.29 Billion (2024-2028) as Tax Incentives and AI-Driven Innovations, Boost EV Sales and Charging Infrastructure Development – Technavio

Published

17 mins ago

on

September 20, 2024

By

NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global EV charging adapter market size is estimated to grow by USD 19.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 42.77% during the forecast period. Increasing EV sales through tax incentives pushing demand for well-built EV charger infrastructure is driving market growth, with a trend towards focus on reducing charging time. However, increasing cost pressure adversely affecting sales of ac level 2 and dc fast chargers poses a challenge – Key market players include ABB Ltd., Aptiv Plc, ChargePoint Holdings Inc., CHONGQING SENKU MACHINERY IMP AND EXP Co. Ltd., Delta Electronics Inc., Eaton Corp. Plc, EDF Energy Holdings Ltd, Enel Spa, EV Safe Charge Inc., FLO Services USA Inc., Kempower Oy, Lectron EV, Leviton Manufacturing Co. Inc., Phihong USA Corp., Robert Bosch GmbH, Schneider Electric SE, Shanghai Mida EV Power Co. Ltd., Shanghai Zencar Industry Co Ltd, Siemens AG, and Webasto SE.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Ev Charging Adapter Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 42.77%

Market growth 2024-2028

USD 19292.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

31.08

Regional analysis

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

Performing market contribution

APAC at 50%

Key countries

China, US, Norway, Japan, and Germany

Key companies profiled

ABB Ltd., Aptiv Plc, ChargePoint Holdings Inc., CHONGQING SENKU MACHINERY IMP AND EXP Co. Ltd., Delta Electronics Inc., Eaton Corp. Plc, EDF Energy Holdings Ltd, Enel Spa, EV Safe Charge Inc., FLO Services USA Inc., Kempower Oy, Lectron EV, Leviton Manufacturing Co. Inc., Phihong USA Corp., Robert Bosch GmbH, Schneider Electric SE, Shanghai Mida EV Power Co. Ltd., Shanghai Zencar Industry Co Ltd, Siemens AG, and Webasto SE

 

Market Driver

The Ev Charging Adapter Market is experiencing significant growth due to technological innovations in battery technology and charging infrastructure. Manufacturers are focusing on reducing charging time and cost, leading to advancements such as portable solar-powered charging stations and ultra-fast charging stations. For instance, Envision Solar’s EV ARC is a solar-powered parking structure that charges a 21.6-kilowatt-hour battery, while the China State Grid’s ultra-fast charging station in Beijing can charge buses to 100% in 10 minutes using Microvast’s ultra-fast charging battery and 31 chargers. GE’s multi-coil system enables efficient interoperability and charging while driving, and DC fast charging offers a range of 40 miles in 10 minutes. The use of solar energy for charging EVs is an emerging trend, which is expected to be encouraged by private and government bodies due to its low cost, driving the market’s growth during the forecast period. 

The EV charging adapter market is experiencing rapid growth in the automobile sector due to the increasing popularity of electric vehicles (EVs). By 2027, the market is forecasted to expand significantly. EV charging adapters enable compatibility between charging stations and various EV models with different charging connector types such as CHAdeMO and CCS. Improvements in charging infrastructure networks, installation in public areas, workplaces, residential complexes, and highways, are driving the market. Innovation, efficiency, versatility, safety features, and user-friendly designs are key factors contributing to the popularity of EV charging adapters. Diverse charging standards, including those for battery-electric vehicles and plug-in hybrid vehicles like the Chevrolet Volt and Nissan Leaf, necessitate the use of EV charging adapters. Environmental concerns, government norms, raw material prices, and compatibility with various charging port types are influencing market trends. Brands like ConnectDER, with offerings like meter sockets and home EV chargers, are providing rebates and tax credits to boost consumer adoption. 

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 Market Challenges

The global EV charging adapter market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) and the development of charging infrastructure. Governments worldwide prioritize vehicle safety, leading to the integration of advanced safety systems like antilock braking systems, airbags, tire pressure monitoring systems, and advanced driver assistance systems in both premium and entry-level vehicles. In particular, the US and China have shown high adoption rates for advanced driver assistance systems. However, the added cost of these safety features and EV charging adapters is a concern for Original Equipment Manufacturers (OEMs). Price-sensitive buyers are unwilling to bear the extra cost, putting pressure on OEMs to absorb the expenses. This situation may negatively impact the growth of the EV charging adapter market during the forecast period. Moreover, the increasing number of EVs equipped with AC Level 2 chargers and the expansion of charging infrastructure in public places necessitate further investment from OEMs. To meet these demands, they must comply with standards such as the European New Car Assessment Programme (Euro NCAP) and other regional regulations. Despite the challenges, the long-term outlook for the EV charging adapter market remains positive due to the growing demand for electric vehicles and the need for reliable charging solutions.The Ev Charging Adapter Market is experiencing significant growth due to the increasing popularity of battery-electric and plug-in hybrid vehicles. However, challenges persist in improving charging infrastructure networks, particularly in public areas, workplaces, and residential complexes along highways. Innovation, efficiency, and versatility are key focus areas for manufacturers to meet diverse charging standards and user needs. Safety features and user-friendly designs are essential for gaining brand value and customer trust. Environmental concerns and government norms are driving the transition to zero emission vehicles, leading to the availability of rebates, tax credits, and incentives. Raw material prices and diverse charging standards pose challenges, but companies like ChargePoint, Sunrun, and ConnectDER are addressing these issues with Level 2 home chargers, WiFi capabilities, and various plug types (NEMA 14-50, NEMA 6-50). Brand value, convenience, and charging speed are crucial factors for consumers considering the Chevrolet Volt and Nissan Leaf. As the market evolves, the focus on efficiency, versatility, and safety features will continue to be essential for market success.

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Segment Overview 

This ev charging adapter market report extensively covers market segmentation by

Type 1.1 AC1.2 DCApplication 2.1 Public2.2 PrivateGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 AC- The Ev Charging Adapter Market is experiencing significant growth due to the increasing adoption of electric vehicles. These adapters enable charging at home or on the go, providing convenience for consumers. Manufacturers are focusing on developing efficient and cost-effective solutions to meet the rising demand. Key players in the market include Aptiv, Bosch, and Schneider Electric, among others. Collaborations and partnerships are common strategies to expand market reach and enhance product offerings. The market is expected to continue growing, driven by government initiatives and consumer preferences for sustainable transportation.

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Research Analysis

The Ev Charging Adapter Market is poised for significant growth in the Rapidly Automobile Sector, driven by the increasing popularity of electric vehicles (EVs). Charging adapters enable EVs to connect to various charging stations, with compatibility for different charging connector types such as CHAdeMO and CCS. The market forecast period projects continued expansion, fueled by the improvement of charging infrastructure networks. Individual charging stations, public areas, workplaces, residential complexes, highways, and other locations are installing charging ports to cater to the diverse charging standards of EVs. Safety features and user-friendly designs are key considerations for charging adapters, ensuring a seamless charging experience for users during the transition to electric vehicles. The diverse charging standards and the need for compatibility have led to the development of various connector types. CHAdeMO and CCS are currently the most common, but other standards may emerge. The convenience offered by EV charging adapters is a significant factor in the growth of the market, as they enable EV owners to charge their vehicles at a wider range of charging stations.

Market Research Overview

The Ev Charging Adapter Market is poised for significant growth in the Rapidly Automobile Sector, driven by the increasing popularity of electric vehicles (EVs). Charging adapters enable EVs to charge at various charging stations using different connector types such as CHAdeMO and CCS. The market is forecast to expand during the period due to the improvement of charging infrastructure networks, installation in public areas, workplaces, residential complexes, highways, and the transition to zero emission vehicles. The versatility, efficiency, safety features, and user-friendly designs of EV charging adapters are key factors driving their popularity. However, diverse charging standards and compatibility concerns may pose challenges. Environmental concerns, government norms, raw material prices, and the availability of rebates, tax credits, and incentives also influence market dynamics. Brands like ChargePoint, Sunrun, and ConnectDER offer Level 2 home chargers, meter sockets, and public charging ports. The market is expected to benefit from the increasing popularity of battery-electric vehicles and plug-in hybrid vehicles, including models like the Chevrolet Volt and Nissan Leaf.

Table of Contents:

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

TypeACDCApplicationPublicPrivateGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

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

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/ev-charging-adapter-market-to-grow-by-usd19-29-billion-2024-2028-as-tax-incentives-and-ai-driven-innovations-boost-ev-sales-and-charging-infrastructure-development—technavio-302254478.html

SOURCE Technavio

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