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KITS Eyecare Reports Preliminary Second Quarter 2024 Results

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6 months ago

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Q2 Revenue Grew 25% YOY to Approximately $37.5 million
Q2 Adjusted EBITDA Improved to over 3% of Revenue
Cash Position Remains Strong at over $19.0 Million

VANCOUVER, BC, July 3, 2024 /CNW/ – KITS Eyecare Ltd. (TSX: KITS) (“KITS” or the “Company”), the leading vertically integrated eyecare provider, is providing selected preliminary unaudited results for its second quarter ended June 30, 2024.

Select Preliminary Second Quarter 2024 Financial Highlights

Total revenue grew 25% year-over-year to approximately $37.5 millionAdjusted EBITDA increased year-over-year to over 3% of Revenue.Finished the quarter with a healthy cash balance over $19.0 million.

“We are delighted to share another record quarter for the KITS business, including our seventh consecutive quarter of positive adjusted EBITDA and revenue growth at over 5x the industry average,” said Roger Hardy, Co-Founder and CEO of KITS. “Leading the way was our glasses business. Growth continued to be fueled by customers sharing their experiences with friends and family about the truly better way to buy eyewear and see the world.” 

The Company looks forward to reporting its full second quarter 2024 results in early August 2024. Details for the second quarter 2024 conference call will be disclosed in the coming weeks.

About KITS
KITS makes eyecare easy. KITS is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. We offer customers access to a vast selection of contact lenses and eyeglasses, including our own exclusive KITS designed products, as well as a robust suite of online vision tools. Our efficient digital platform, backed by our industry-leading manufacturing and designs, removes intermediaries, and enables us to offer great prices and deliver made to order personalized products with incredible care and accuracy. We are creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including online eyewear fitting tools, and virtual try-on for glasses. We strive to delight our customers with our competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning our customers’ lifelong trust. For more information on KITS, visit: www.kits.com.

Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the execution of our proposed strategy, our operating performance and prospects for the business. These forward-looking statements generally can be identified by the use of words such as “intend,” “believe,” “could,” “continue,” “expect,” “estimate,” “forecast,” “may,” “potential,” “project,” “plan,” “would,” “will,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such a statement. Our business is subject to substantial risks and uncertainties. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions in respect of the expansion and enhancement of our optical laboratory for glasses and warehouse facilities; the growth of our business and launch of new technologies; our ability to drive sales growth; our ability to maintain, enhance, and grow within our addressable market; our ability to drive ongoing development and innovation of our exclusive brands and product categories; our ability to continue directly sourcing from third party suppliers and manufacturers; our ability to retain key personnel; our ability to add, maintain and expand production, distribution and fulfillment capabilities; our ability to continue investing in infrastructure to support our growth; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards are material factors made in preparing forward-looking information and management’s expectations. KITS’ risks and uncertainties are discussed in detail in the company’s Annual Information Form, filed on SEDAR on March 6, 2024. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements, except as required under applicable securities laws. If we do update certain forward-looking information, no inference should be made that we will further update such or other forward-looking information.

 

SOURCE KITS

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Technology

TerraMaster Launches the New TNAS Mobile 3 with Various New Features for Efficient NAS Management

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20 minutes ago

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December 26, 2024

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SHENZHEN, China, Dec. 26, 2024 /PRNewswire/ — TerraMaster, a professional brand focusing on providing innovative storage products for families and businesses, launched new TNAS Mobile 3 application compatible with the latest TOS 6, introducing a host of new features and optimizations such as updated UI, TNAS Online and photo backup and one-touch initialization. With these improvements, the latest version of TNAS Mobile 3 ensures users enjoy a more convenient, efficient, and powerful NAS management experience, all from the palm of hands.

TNAS Mobile 3 New Features

Upgraded TNAS Online Management
Upgraded to TNAS Online 2, with a 500% speed improvement, providing smoother and more stable mobile access, ensuring seamless operation from anywhere.

One-Touch NAS Initialization
Users can now easily initialize the TNAS directly from mobile device. Simplified operation process for quick deployment and initialization of the TOS system.

Perfectly Compatible with TOS 6
Seamlessly integrates with the latest TOS 6 operating system, users can explore all features of TOS 6 on the mobile phone.

Optimized Overall UI and Photo Backup
The TNAS Mobile 3 app now boasts a cleaner, more intuitive interface for a smoother user experience. And the photo backup transfer process has been improved to increase efficiency and stability.

Media Index Management
The app also introduces a new media index management feature. Smart indexing for quick retrieval of media files on TNAS, offering the convenience of one-click activation across platforms.

User Management
A new user management feature has been added, allowing administrators to centralized manage and control user access more efficiently. Enable flexible allocation and control of permissions.

Shared Folder Management
The app now includes enhanced shared folder management. Users can easily create and edit shared folders with detailed control over access permissions.

Availability
TerraMaster new TNAS Mobile 3 V3.3.038 is now available for download and installation through Google Play Store and Apple App Store. More details, please visit:
https://www.terra-master.com/global/tnas-mobile3/.

Follow TerraMaster on social media:
Facebook: https://www.facebook.com/terramasterofficial
Twitter: https://twitter.com/TerraMasters
LinkedIn: https://bit.ly/3wKrjmr
YouTube: https://bit.ly/3dMXGIK
TikTok: https://www.tiktok.com/@terramaster_official  

About TerraMaster
TerraMaster is a professional brand that focuses on providing innovative storage products, including network attached storage and direct attached storage that has become increasingly popular in over 40 countries and regions. The brand has been developing storage technology for 10 years, addressing the needs of customers such as home users, small/medium businesses, and enterprises.

Contact:
Yuki Shi
+86 755 81798272
388067@email4pr.com

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SOURCE TerraMaster

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Sapiens to Participate in the 27th Annual Needham Growth Conference on January 15, 2025

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20 minutes ago

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December 26, 2024

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ROCHELLE PARK, N. J., Dec. 26, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that Roni Giladi, Chief Financial Officer, is scheduled to participate in the 27th Annual Needham Growth Conference to be held at the Lotte NY Palace Hotel in New York City, January 14 – 16, 2025. Sapiens will host a group presentation on January 15, from 2:15 p.m.- 2:55 p.m. Eastern Daylight Time (EDT) in “Holmes 1″ and conduct one-on-one meetings the same day.

A webcast of management’s presentation can be found on the company’s IR website under the events section, at https://sapiens.com/investor-relations/. For more information about the conferences or to schedule a one-on-one meeting with Sapiens, please contact your Needham representative at the respective firm. The firms hosting the conference reserve the right to adjust a company’s meeting schedule, including its presentation time. It is recommended that participants confirm all meeting and presentation times with the conference organizers.

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent insurance software solutions. With Sapiens’ robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. We help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers’ compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative SaaS offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success.

For more information visit https://sapiens.com or follow us on LinkedIn 

Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Investor Relations, Sapiens
Yaffa.cohen-ifrah@sapiens.com 

Investors Contact
Kimberly Rogers
Managing Director, Hayden IR
kim@HaydenIR.com 

 

Logo:  http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg

 

 

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SOURCE Sapiens International Corporation

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Technology

Pocamarket Named ‘Best K-POP Photocard Platform’ at 2024 KBS N Brand Awards

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20 minutes ago

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December 26, 2024

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SEOUL, South Korea, Dec. 26, 2024 /PRNewswire/ — Pocamarket, the pioneering K-POP photocard trading platform operated by Infludeo Co., Ltd., has received the prestigious ‘Best K-POP Photocard Platform’ award at the 2024 KBS N Brand Awards. The ceremony, organized by KBS N, a subsidiary of Korea’s national public broadcaster KBS (Korean Broadcasting System), recognizes outstanding brands for their excellence and industry impact.

Since its inception, Pocamarket has established itself as the trusted destination for K-POP enthusiasts seeking to trade photocards in a secure and streamlined environment. The platform’s commitment to fan experience extends to its physical presence through PocaSpot, an interactive retail space in Seoul’s vibrant Hongdae district. This innovative space serves as a hub for both domestic and international fans to acquire authentic photocards while experiencing Korean pop culture firsthand. Building on this success, the company has announced plans to launch its second PocaSpot location in Myeongdong during 2024.

The recognition underscores Pocamarket’s transformation from a specialized trading platform to a significant force in promoting global K-POP culture. As the international K-POP community continues to grow, Pocamarket maintains its position as an industry leader by delivering exceptional value and authentic experiences to fans worldwide.

“This recognition reflects the unwavering support and trust of our global fan community,” stated a Pocamarket representative. “We remain dedicated to developing innovative solutions that ensure a seamless and secure experience for K-POP enthusiasts everywhere. Our mission is to continue evolving alongside our users while fostering the growth of K-POP culture internationally.”

View original content to download multimedia:https://www.prnewswire.com/news-releases/pocamarket-named-best-k-pop-photocard-platform-at-2024-kbs-n-brand-awards-302339178.html

SOURCE Pocamarket

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