Technology
OPENLANE, Inc. Reports Third Quarter 2024 Financial Results
Published
2 weeks agoon
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CARMEL, Ind., Nov. 6, 2024 /PRNewswire/ — OPENLANE, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2024.
“OPENLANE delivered strong third quarter results while advancing a differentiated pipeline of innovation and expanding our investments in people, technology and the customer experience,” said Peter Kelly, CEO of OPENLANE. “I’m particularly pleased with the performance of our marketplace business, which grew volumes, gross profit and adjusted EBITDA with positive contributions from our US, Canadian and European marketplaces.”
“OPENLANE extended its track record of strong financial and operational performance in the third quarter,” said Brad Lakhia, EVP and CFO of OPENLANE. “On a consolidated basis, we delivered revenue of $448 million driven by 6% volume growth, income from continuing operations of $28 million, adjusted EBITDA of $75 million, and year-to-date cash flow from operating activities of $260 million. Our marketplace segment also demonstrated continued resiliency and profitability, with significant adjusted EBITDA growth while increasing our Gross Merchandise Value by 12% to nearly $7 billion.”
Third Quarter 2024 Financial Highlights
Total revenue of $448 million in Q3 2024, representing 8% YoY growthConsolidated income from continuing operations of $28 million, with Marketplace contributing $5 millionConsolidated adjusted EBITDA of $75 million in Q3 2024, representing 10% YoY growth$260 million of cash flow from operating activities on a year-to-date basisMarketplace revenue of $354 million in Q3 2024, representing 12% YoY growthMarketplace adjusted EBITDA of $36 million, representing 34% YoY growthMarketplace volumes increased 6% YoYGross Merchandise Value (GMV) of approximately $7 billion, representing 12% YoY growth
2024 Guidance
The company is updating its annual guidance to the following:
Annual
Guidance
Income from continuing operations (in millions)
$73 – $81
Adjusted EBITDA (in millions)
$285 – $295
Income from continuing operations per share – diluted *
$0.21 – $0.27
Operating adjusted net income from continuing operations per share – diluted
$0.81 – $0.87
* The company uses the two-class method of calculating income from continuing operations per diluted share. Under the two-class method, income from continuing operations is adjusted for dividends and undistributed earnings (losses) to the holders of the Series A Preferred Stock, and the weighted average diluted shares do not assume conversion of the preferred shares to common shares.
Earnings guidance does not contemplate future items such as business development activities, strategic developments (such as restructurings, spin-offs or dispositions of assets or investments), contingent purchase price adjustments, significant expenses related to litigation, tax adjustments and changes in applicable laws and regulations (including significant accounting and tax matters) and intangible impairments. The timing and amounts of these items are highly variable, difficult to predict, and of a potential size that could have a substantial impact on the company’s reported results for any given period. Prospective quantification of these items is generally not practicable. Operating adjusted net income from continuing operations per share excludes amortization expense associated with acquired intangible assets, as well as one-time charges, net of taxes. See reconciliations of the company’s guidance included below.
Share Repurchase Authorization
The board of directors authorized an increase in the size of the company’s share repurchase program by approximately $5 million and an extension of the share repurchase program through December 31, 2025. With the increase, and giving effect to the company’s previous repurchases, approximately $100 million remains available for repurchases under the share repurchase program.
Earnings Conference Call Information
OPENLANE will be hosting an earnings conference call and webcast on Wednesday, November 6, 2024 at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Supplemental financial information for OPENLANE’s third quarter 2024 results is available at the investor relations section of corporate.openlane.com.
The archive of the webcast will be available following the call at the investor relations section of corporate.openlane.com for a limited time.
About OPENLANE
OPENLANE, Inc. (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. OPENLANE’s unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services. Our integrated marketplaces reduce risk, improve transparency and streamline transactions for customers around the globe. Headquartered in Carmel, Indiana, OPENLANE has employees across the United States, Canada, Europe, Uruguay and the Philippines. For more information and the latest OPENLANE news, visit corporate.openlane.com.
Forward-Looking Statements
Certain statements contained in this release include, and the company may make related oral, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and which are subject to certain risks, trends and uncertainties. In particular, statements made that are not historical facts may be forward-looking statements. Words such as “should,” “may,” “will,” “would,” “anticipate,” “expect,” “project,” “intend,” “contemplate,” “plan,” “believe,” “seek,” “estimate,” “assume,” “can,” “could,” “continue,” “of the opinion,” “confident,” “is set,” “is on track,” “outlook,” “target,” “positioned,” “predict,” “initiative,” “goal,” “opportunity” and similar expressions identify forward-looking statements. Such statements are based on management’s current assumptions, expectations and/or beliefs, are not guarantees of future performance and are subject to substantial risks, uncertainties and changes that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the section entitled “Risk Factors” in the company’s Form 10-K for the year ended December 31, 2023 and in the company’s other filings and reports filed with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this release. The company undertakes no obligation to update any forward-looking statements.
OPENLANE, Inc.
Condensed Consolidated Statements of Income
(In millions) (Unaudited)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Operating revenues
Auction fees
$ 113.2
$ 102.1
$ 331.8
$ 305.3
Service revenue
148.1
153.9
445.4
475.2
Purchased vehicle sales
93.0
60.6
231.4
176.5
Finance-related revenue
94.1
99.7
287.9
296.8
Total operating revenues
448.4
416.3
1,296.5
1,253.8
Operating expenses
Cost of services (exclusive of depreciation and amortization)
252.0
216.0
711.8
662.8
Selling, general and administrative
99.4
107.4
314.1
326.6
Depreciation and amortization
23.8
26.4
72.2
76.2
Goodwill and other intangibles impairment
—
—
—
250.8
Total operating expenses
375.2
349.8
1,098.1
1,316.4
Operating profit (loss)
73.2
66.5
198.4
(62.6)
Interest expense
35.3
39.4
112.4
116.5
Other (income) expense, net
(3.6)
1.7
(2.9)
(12.5)
Loss on extinguishment of debt
—
—
—
1.1
Income (loss) from continuing operations before income taxes
41.5
25.4
88.9
(167.7)
Income taxes
13.1
12.7
31.3
0.7
Income (loss) from continuing operations
28.4
12.7
57.6
(168.4)
Income from discontinued operations, net of income taxes
—
—
—
—
Net income (loss)
$ 28.4
$ 12.7
$ 57.6
$ (168.4)
Net income (loss) per share – basic
Income (loss) from continuing operations
$ 0.12
$ 0.01
$ 0.17
$ (1.84)
Income from discontinued operations
—
—
—
—
Net income (loss) per share – basic
$ 0.12
$ 0.01
$ 0.17
$ (1.84)
Net income (loss) per share – diluted
Income (loss) from continuing operations
$ 0.12
$ 0.01
$ 0.17
$ (1.84)
Income from discontinued operations
—
—
—
—
Net income (loss) per share – diluted
$ 0.12
$ 0.01
$ 0.17
$ (1.84)
OPENLANE, Inc.
Condensed Consolidated Balance Sheets
(In millions) (Unaudited)
September 30,
2024
December 31,
2023
Cash and cash equivalents
$ 132.1
$ 93.5
Restricted cash
28.5
65.4
Trade receivables, net of allowances
300.0
291.8
Finance receivables, net of allowances
2,192.5
2,282.0
Other current assets
131.7
109.2
Total current assets
2,784.8
2,841.9
Goodwill
1,269.9
1,271.2
Customer relationships, net of accumulated amortization
123.0
136.1
Operating lease right-of-use assets
70.6
75.9
Property and equipment, net of accumulated depreciation
159.6
169.8
Intangible and other assets
217.9
231.4
Total assets
$ 4,625.8
$ 4,726.3
Current liabilities, excluding obligations collateralized by
finance receivables and current maturities of debt
$ 788.7
$ 692.3
Obligations collateralized by finance receivables
1,528.8
1,631.9
Current maturities of debt
267.8
154.6
Total current liabilities
2,585.3
2,478.8
Long-term debt
—
202.4
Operating lease liabilities
64.1
70.4
Other non-current liabilities
36.8
35.2
Temporary equity
612.5
612.5
Stockholders’ equity
1,327.1
1,327.0
Total liabilities, temporary equity and stockholders’ equity
$ 4,625.8
$ 4,726.3
OPENLANE, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions) (Unaudited)
Nine Months Ended
September 30,
2024
2023
Operating activities
Net income (loss)
$ 57.6
$ (168.4)
Net income from discontinued operations
—
—
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
72.2
76.2
Provision for credit losses
42.2
42.0
Deferred income taxes
(0.1)
(26.8)
Amortization of debt issuance costs
6.9
6.6
Stock-based compensation
13.9
13.1
Contingent consideration adjustment
—
1.3
Net change in unrealized loss on investment securities
—
0.4
Investment and note receivable impairment
—
11.0
Goodwill and other intangibles impairment
—
250.8
Loss on extinguishment of debt
—
1.1
Other non-cash, net
(0.3)
0.8
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables and other assets
(36.1)
(94.0)
Accounts payable and accrued expenses
103.8
104.7
Payments of contingent consideration in excess of acquisition-date fair value
—
(2.6)
Net cash provided by operating activities – continuing operations
260.1
216.2
Net cash used by operating activities – discontinued operations
(1.4)
(0.1)
Investing activities
Net decrease in finance receivables held for investment
50.4
1.3
Purchases of property, equipment and computer software
(39.0)
(39.8)
Investments in securities
(1.9)
(1.0)
Proceeds from the sale of property and equipment
0.9
0.3
Net cash provided by (used by) investing activities – continuing operations
10.4
(39.2)
Net cash provided by investing activities – discontinued operations
—
7.0
Financing activities
Net decrease in book overdrafts
(3.6)
(3.5)
Net repayments of lines of credit
(86.4)
(106.4)
Net (decrease) increase in obligations collateralized by finance receivables
(93.0)
13.2
Payments for debt issuance costs/amendments
(14.7)
(5.4)
Payment for early extinguishment of debt
—
(140.1)
Payments on finance leases
(0.9)
(1.6)
Payments of contingent consideration and deferred acquisition costs
—
(12.4)
Issuance of common stock under stock plans
1.0
2.1
Tax withholding payments for vested RSUs
(3.4)
(2.5)
Repurchase and retirement of common stock
(30.0)
(22.2)
Dividends paid on Series A Preferred Stock
(33.3)
(33.3)
Net cash used by financing activities – continuing operations
(264.3)
(312.1)
Net cash provided by financing activities – discontinued operations
—
—
Net change in cash balances of discontinued operations
—
—
Effect of exchange rate changes on cash
(3.1)
2.6
Net increase (decrease) in cash, cash equivalents and restricted cash
1.7
(125.6)
Cash, cash equivalents and restricted cash at beginning of period
158.9
277.7
Cash, cash equivalents and restricted cash at end of period
$ 160.6
$ 152.1
Cash paid for interest
$ 105.8
$ 106.5
Cash paid for taxes, net of refunds – continuing operations
$ 34.7
$ 28.3
Cash paid for taxes, net of refunds – discontinued operations
$ (0.5)
$ —
OPENLANE, Inc.
Reconciliation of Non-GAAP Financial Measures
EBITDA, Adjusted EBITDA, operating adjusted net income (loss) and operating adjusted net income (loss) per share as presented herein are supplemental measures of our performance that are not required by, or presented in accordance with, generally accepted accounting principles in the United States (“GAAP”). They are not measurements of our financial performance under GAAP and should not be considered as substitutes for net income (loss) or any other performance measures derived in accordance with GAAP. Management believes that these measures provide investors additional meaningful methods to evaluate certain aspects of the company’s results period over period and for the other reasons set forth below.
EBITDA is defined as net income (loss), plus interest expense net of interest income, income tax provision (benefit), depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for the items of income and expense and expected incremental revenue and cost savings as described in our senior secured credit agreement covenant calculations. Management believes that the inclusion of supplementary adjustments to EBITDA applied in presenting Adjusted EBITDA is appropriate to provide additional information to investors about one of the principal measures of performance used by our creditors. In addition, management uses EBITDA and Adjusted EBITDA to evaluate our performance.
Depreciation expense for property and equipment and amortization expense of capitalized internally developed software costs relate to ongoing capital expenditures; however, amortization expense associated with acquired intangible assets, such as customer relationships, software, tradenames and noncompete agreements are not representative of ongoing capital expenditures, but have a continuing effect on our reported results. Non-GAAP financial measures of operating adjusted net income (loss) and operating adjusted net income (loss) per share, in the opinion of the company, provide comparability of the company’s performance to other companies that may not have incurred these types of non-cash expenses or that report a similar measure. In addition, operating adjusted net income (loss) and operating adjusted net income (loss) per share may include adjustments for certain other charges.
EBITDA, Adjusted EBITDA, operating adjusted net income (loss) and operating adjusted net income (loss) per share have limitations as analytical tools, and should not be considered in isolation or as a substitute for analysis of the results as reported under GAAP. These measures may not be comparable to similarly titled measures reported by other companies.
The following tables reconcile EBITDA and Adjusted EBITDA to income (loss) from continuing operations for the periods presented:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In millions), (Unaudited)
2024
2023
2024
2023
Income (loss) from continuing operations
$ 28.4
$ 12.7
$ 57.6
$ (168.4)
Add back:
Income taxes
13.1
12.7
31.3
0.7
Interest expense, net of interest income
34.9
38.5
111.3
113.4
Depreciation and amortization
23.8
26.4
72.2
76.2
EBITDA
100.2
90.3
272.4
21.9
Non-cash stock-based compensation
4.1
4.5
14.8
13.8
Loss on extinguishment of debt
—
—
—
1.1
Acquisition related costs
—
0.5
0.5
1.1
Securitization interest
(27.9)
(31.6)
(87.0)
(89.0)
Severance
1.5
1.9
9.2
3.4
Foreign currency (gains)/losses
(3.2)
(1.2)
(0.7)
(0.8)
Goodwill and other intangibles impairment
—
—
—
250.8
Contingent consideration adjustment
—
—
—
1.3
Net change in unrealized (gains) losses on investment securities
—
0.5
—
0.4
Professional fees related to business improvement efforts
—
1.7
1.5
4.5
Impact for newly enacted Canadian DST related to prior years
—
—
10.0
—
Other
(0.2)
0.9
—
1.7
Total addbacks/(deductions)
(25.7)
(22.8)
(51.7)
188.3
Adjusted EBITDA
$ 74.5
$ 67.5
$ 220.7
$ 210.2
Three Months Ended September 30, 2024
(Dollars in millions), (Unaudited)
Marketplace
Finance
Consolidated
Income from continuing operations
$ 4.8
$ 23.6
$ 28.4
Add back:
Income taxes
5.0
8.1
13.1
Interest expense, net of interest income
4.2
30.7
34.9
Depreciation and amortization
20.6
3.2
23.8
EBITDA
34.6
65.6
100.2
Non-cash stock-based compensation
3.2
0.9
4.1
Securitization interest
—
(27.9)
(27.9)
Severance
1.4
0.1
1.5
Foreign currency (gains)/losses
(3.1)
(0.1)
(3.2)
Other
(0.3)
0.1
(0.2)
Total addbacks/(deductions)
1.2
(26.9)
(25.7)
Adjusted EBITDA
$ 35.8
$ 38.7
$ 74.5
Three Months Ended September 30, 2023
(Dollars in millions), (Unaudited)
Marketplace
Finance
Consolidated
Income (loss) from continuing operations
$ (19.3)
$ 32.0
$ 12.7
Add back:
Income taxes
2.0
10.7
12.7
Interest expense, net of interest income
4.3
34.2
38.5
Depreciation and amortization
23.8
2.6
26.4
Intercompany interest
9.6
(9.6)
—
EBITDA
20.4
69.9
90.3
Non-cash stock-based compensation
3.5
1.0
4.5
Acquisition related costs
0.5
—
0.5
Securitization interest
—
(31.6)
(31.6)
Severance
1.7
0.2
1.9
Foreign currency (gains)/losses
(1.2)
—
(1.2)
Net change in unrealized (gains) losses on investment securities
—
0.5
0.5
Professional fees related to business improvement efforts
1.4
0.3
1.7
Other
0.5
0.4
0.9
Total addbacks/(deductions)
6.4
(29.2)
(22.8)
Adjusted EBITDA
$ 26.8
$ 40.7
$ 67.5
The following table reconciles operating adjusted net income and operating adjusted net income per diluted share to net income (loss) from continuing operations for the periods presented:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In millions, except per share amounts), (Unaudited)
2024
2023
2024
2023
Net income (loss) from continuing operations (1)
$ 28.4
$ 12.7
$ 57.6
$ (168.4)
Acquired amortization expense
9.0
11.1
27.4
28.3
Impact for newly enacted Canadian DST related to prior years
—
—
10.0
—
Loss on extinguishment of debt
—
—
—
1.1
Contingent consideration adjustment
—
—
—
1.3
Goodwill and other intangibles impairment
—
—
—
250.8
Income taxes (2)
(0.4)
1.9
(2.9)
(32.3)
Operating adjusted net income from continuing operations
$ 37.0
$ 25.7
$ 92.1
$ 80.8
Operating adjusted net income from discontinued operations
$ —
$ —
$ —
$ —
Operating adjusted net income
$ 37.0
$ 25.7
$ 92.1
$ 80.8
Operating adjusted net income from continuing operations per share – diluted
$ 0.26
$ 0.18
$ 0.64
$ 0.56
Operating adjusted net income from discontinued operations per share – diluted
—
—
—
—
Operating adjusted net income per share – diluted
$ 0.26
$ 0.18
$ 0.64
$ 0.56
Weighted average diluted shares – including assumed conversion of preferred shares
144.8
145.6
145.0
145.1
(1)
The Series A Preferred Stock dividends and undistributed earnings allocated to participating securities have not been included in the calculation of operating adjusted net income and operating adjusted net income per diluted share.
(2)
For the three and nine months ended September 30, 2024 and 2023, each tax deductible item was booked to the applicable statutory rate. The deferred tax benefits of $52.5 million and $6.5 million associated with the goodwill and tradename impairments in 2023, respectively, resulted in the U.S. being in a net deferred tax asset position. Due to the three-year cumulative loss related to U.S. operations, we currently have a $42.9 million valuation allowance against the U.S. net deferred tax asset.
The following table reconciles EBITDA and Adjusted EBITDA to income from continuing operations for the 2024 guidance presented:
2024 Guidance
(In millions), (Unaudited)
Low
High
Income from continuing operations
$ 73
$ 81
Add back:
Income taxes
40
45
Interest expense, net of interest income
144
142
Depreciation and amortization
99
97
EBITDA
356
365
Total addbacks/(deductions), net
(71)
(70)
Adjusted EBITDA
$ 285
$ 295
The following table reconciles operating adjusted net income from continuing operations and operating adjusted net income from continuing operations per diluted share to income from continuing operations for the 2024 guidance presented:
2024 Guidance
(In millions, except per share amounts), (Unaudited)
Low
High
Income from continuing operations
$ 73
$ 81
Total adjustments, net
44
44
Operating adjusted net income from continuing operations
$ 117
$ 125
Operating adjusted net income from continuing operations per share – diluted
$ 0.81
$ 0.87
Weighted average diluted shares – including assumed conversion of preferred shares
145
145
Analyst Inquiries:
Media Inquiries:
Itunu Orelaru
Laurie Dippold
(317) 249-4559
(317) 468-3900
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SOURCE OPENLANE, Inc.
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Technology
Urgent Call: Donate Electronics to Empower Charities Nationwide
Published
1 hour agoon
November 23, 2024By
TORONTO, Nov. 23, 2024 /CNW/ – This holiday season, the Electronic Recycling Association (ERA) is spreading the spirit of giving with its annual 12 Days of Electronic Giving campaign. Aiming to donate over 200 electronic devices to charities across Canada, ERA is committed to empowering organizations to deliver critical services to their communities.
However, the demand for electronics remains pressing. More than 500 charities are still on ERA’s waitlist—a number that highlights the urgent need for public and corporate donations of pre-loved technology.
“Together, We Can Create Impact”
Bojan Paduh, Founder and President of ERA, urges individuals and businesses to step up this holiday season:
“We’ve accomplished so much, but hundreds of charities are still waiting for essential technology to continue their work. I encourage everyone to consider donating their unused laptops, tablets, or cell phones. Your generosity can transform lives and reduce e-waste at the same time.”
ERA’s 12 Days of Electronic Giving campaign is already making an impact, supporting a wide range of organizations across the country, including:
Children’s Autism Services of Edmonton – Edmonton, ABWinnipeg Humane Society – Winnipeg, MBBent Arrow Traditional Healing Society – Edmonton, ABCanadian Mental Health Association – Toronto, ONYork Region Educational Services – Toronto, ONIt Takes a Village Community Outreach and Advocacy – Halifax, NSToronto Fringe – Toronto, ONMarina Housing Co-op – Vancouver, BCAgape Table Inc. – Winnipeg, MBGreater Edmonton Live-In Society – Edmonton, ABEqual Housing Initiative Inc. – Winnipeg, MBValley Community Learning Association – Kentville, NSAlberta Children’s Hospital – Calgary, AB
How You Can Help
The holidays are the perfect time to give back. If you or your organization have unused electronic devices gathering dust, ERA invites you to donate and make a meaningful difference. Whether it’s a laptop, tablet, or cell phone, every device can create opportunities, reduce e-waste, and bring hope to someone in need.
Donating is Simple
ERA offers convenient, free pickup services across Canada.
Call: 1-877-9EWASTE / Email: info@era.ca / Visit: www.era.ca to schedule a pickup.
Let’s Make This Season Count
“Your donation today can change lives tomorrow,” adds Paduh. “Together, we can meet the urgent needs of these charities while fostering a sustainable future.” Don’t wait—help ERA ensure no charity is left behind this holiday season.
SOURCE Electronic Recycling Association
Technology
MyDataRemoval Proven More Effective Than Competing Data Removal Services [updated links]
Published
2 hours agoon
November 23, 2024By
Internal and external reports show MyDataRemoval to be the most effective personal data removal service. MyDataRemoval has achieved over 70% data removal within the first week and 90% within four months, outperforming industry competitors who average 26% in the first week and 35% within four months.
LAS VEGAS, Nov. 23, 2024 /PRNewswire-PRWeb/ — Recent findings from a consumer advocacy group have raised concerns about the effectiveness of people-search site removal services, revealing high rates of ineffectiveness among tested companies. Notably, MyDataRemoval was not included in this study. In response, MyDataRemoval conducted an internal audit [updated link] to evaluate its standing relative to the competition, revealing that it was already leading the industry. Building on this success, MyDataRemoval has since enhanced its methodologies and technologies for data removal. As a result, MyDataRemoval is now reaching a 90% removal rate within four months and exceeding a 70% removal rate within the first week—results that place it well above the competition.
Over 70% of personal data removed within the first week: MyDataRemoval successfully removed over 70% of personal data from people-search websites within just one week, outperforming all other services tested by Consumer Reports.Effectiveness over time: MyDataRemoval maintained superior performance compared to other data removal services, with 80% of data removed within one month and 90% within four months.Competitor Comparison in one week: The average effectiveness for the first week across competing services was 30%, whereas MyDataRemoval removed over 70%, demonstrating a clear advantage.Competitor Comparison at four months: Competing services demonstrated significantly lower data removal rates, with some services removing only 27% of personal data within four months.
MyDataRemoval’s internal audits have demonstrated that the service is not only more effective in the initial stages of data removal but also continues to outperform over time. Its proprietary methods, commitment to ongoing audits, and dedication to continuous improvement ensure that it remains a leader in data removal.
MyDataRemoval acknowledges that while current effectiveness rates are industry-leading, there is still room for growth. The goal is to achieve over 90% removal rates across all categories and time frames. MyDataRemoval is committed to conducting monthly audits and making these results publicly available to ensure transparency and continuous improvement. You can see the most recent audit results here [updated link].
Privacy is more important than ever, and MyDataRemoval is here to help individuals reclaim theirs. Do not settle for ineffective data removal—trust the service that has been proven to deliver results. Find MyDataRemoval at www.mydataremoval.com or contact us at hello@mydataremoval.com or call (855) 700-2914 to start your journey towards a more private online presence.
Stay tuned for our monthly audit updates to see how we are continuously improving to make your personal information private once again.
Audit date: 8/9/2024
Profiles removed within 1 week: 85%Profiles removed within 1 month: 71%Profiles removed within 4 months: 73%
Audit date: 9/9/2024
Profiles removed within 1 week: 85%Profiles removed within 1 month: 78%Profiles removed within 4 months: 92%
Audit date: 10/9/2024
Profiles removed within 1 week: 59%Profiles removed within 1 month: 81%Profiles removed within 4 months: 90%
Audit date: 11/9/2024
Profiles removed within 1 week: 77%Profiles removed within 1 month: 81%Profiles removed within 4 months: 90%
Media Contact
James Wilson, MyDataRemoval, 1 8557002194, hello@mydataremoval.com, https://www.mydataremoval.com
View original content:https://www.prweb.com/releases/mydataremoval-proven-more-effective-than-competing-data-removal-services-updated-links-302313853.html
SOURCE MyDataRemoval
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