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Digital Turbine Reports Fiscal 2025 Second Quarter Financial Results

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Second Quarter Revenue Totaled $118.7 Million

Second Quarter GAAP Net Loss of $25.0 Million, or GAAP EPS of ($0.24); Second Quarter Non-GAAP Adjusted Net Income1 of $5.0 Million and Non-GAAP Adjusted EPS1 of $0.05

Second Quarter Non-GAAP Adjusted EBITDA2 Totaled $15.3 Million

AUSTIN, Texas, Nov. 6, 2024 /PRNewswire/ — Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal second quarter ended September 30, 2024.

Recent Financial Highlights:

Fiscal second quarter of 2025 revenue totaled $118.7 million, representing an increase of 1% quarter-over-quarter as compared to the fiscal first quarter of 2025, and a decline of 17% year-over-year as compared to the fiscal second quarter of 2024.GAAP net loss for the fiscal second quarter of 2025 was $25.0 million, or ($0.24) per share, as compared to GAAP net loss for the fiscal second quarter of 2024 of $161.5 million, or ($1.61) per share, which included a noncash goodwill impairment charge of $147.2 million. Non-GAAP adjusted net income1 for the fiscal second quarter of 2025 was $5.0 million, or $0.05 per share, as compared to Non-GAAP adjusted net income1 of $13.9 million, or $0.13 per share, in the fiscal second quarter of 2024.Non-GAAP adjusted EBITDA2 for the fiscal second quarter of 2025 was $15.3 million, representing an increase of 6% quarter-over-quarter as compared to the fiscal first quarter of 2025, and a decline of 45% year-over-year as compared to Non-GAAP adjusted EBITDA2 of $27.7 million in the fiscal second quarter of 2024.The Company has initiated a transformation program designed to drive greater efficiency and enhance cash flow generation while accelerating innovation and future growth. The program is underway and is targeted to yield more than $25 million in annual cash expense savings.The Company announced the acquisition of ONE Store International to create a leading comprehensive and competitive alternative app ecosystem beyond the traditional app store model, offering greater value to app developers, consumers and mobile operators.

“The September quarter results marked our second consecutive quarter of sequential growth,” said Bill Stone, CEO. “While we anticipate continued sequential growth in the current December quarter and a return to year-over-year growth in the March quarter, our outlook for the remainder of fiscal 2025 has been reduced as a result of more significant anticipated headwinds in some of our legacy businesses. In order to drive greater efficiencies with current operations and enhance cash flow generation while simultaneously accelerating innovation and maintaining our investment is several promising future growth initiatives, we have enacted a strategic transformation project. We expect this transformation project to yield more than $25 million in annual cost savings and position the Company for greater profit and cash flow leverage when top-line growth rates re-accelerate. We remain steadfastly confident in the future of Digital Turbine, but we also recognize that we must execute with greater expediency and efficiency while attacking the enormous market opportunity in front of us. We have a clear plan to achieve this core objective and maximally capitalize on our advantageous foothold position in the newly evolving mobile app marketplace.”  

Fiscal 2025 Second Quarter Financial Results

Total revenue for the second quarter of fiscal 2025 was $118.7 million. Total On Device Solutions revenue before intercompany eliminations was $82.4 million. Total App Growth Platform revenue before intercompany eliminations was $37.3 million.

GAAP net loss for the second quarter of fiscal 2025 was $25.0 million, or ($0.24) per share, as compared to GAAP net loss for the second quarter of fiscal 2024 of $161.5 million, or ($1.61) per share.

Non-GAAP adjusted net income1 for the second quarter of fiscal 2025 was $5.0 million, or $0.05 per share, as compared to Non-GAAP adjusted net income1 of $13.9 million, or $0.13 per share, in the second quarter of fiscal 2024.

Non-GAAP adjusted EBITDA2 for the second quarter of fiscal 2025 was $15.3 million, as compared to Non-GAAP adjusted EBITDA2 for the second quarter of fiscal 2024 of 27.7 million.

Business Outlook

Based on information available as of November 6, 2024, the Company currently expects the following for fiscal year 2025:

Revenue of between $475 million and $485 millionNon-GAAP adjusted EBITDA2 of between $65 million and $70 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 6:00 p.m. ET to discuss its fiscal 2025 second 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/pvYVXg0ZeQo.  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 4716696.

A playback will be available through November 13, 2024. The replay can be accessed by dialing 877-344-7529 in the United States or 412-317-0088 from international locations, passcode 9360917.  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, impairment of goodwill, changes in fair value of contingent considerations, and tax adjustments. 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), business transformation costs, foreign exchange transaction gains (losses), income tax (benefit) provision, transaction-related expenses, impairment of goodwill, changes in fair value of contingent considerations, and severance costs. 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, impairment of goodwill, and depreciation of software. 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.

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 September 30,

Six months ended September 30,

2024

2023

2024

2023

Net revenue

$     118,728

$          143,259

$   236,717

$   289,625

Costs of revenue and operating expenses

Revenue share

56,336

68,719

112,145

138,311

Other direct costs of revenue

8,438

9,017

16,228

18,630

Product development

9,433

14,037

20,147

29,837

Sales and marketing

15,887

15,537

32,134

31,114

General and administrative

42,176

41,385

85,693

81,884

Impairment of goodwill

147,181

147,181

Total costs of revenue and operating expenses

132,270

295,876

266,347

446,957

Loss from operations

(13,542)

(152,617)

(29,630)

(157,332)

Interest and other income (expense), net

Change in fair value of contingent consideration

200

372

200

372

Interest expense, net

(9,232)

(7,844)

(17,482)

(15,234)

Foreign exchange transaction loss

(976)

(2,106)

(158)

(183)

Other income (expense), net

(36)

78

244

Total interest and other expense, net

(10,044)

(9,578)

(17,362)

(14,801)

Loss before income taxes

(23,586)

(162,195)

(46,992)

(172,133)

Income tax provision (benefit)

1,400

(713)

3,150

(2,252)

Net loss

(24,986)

(161,482)

(50,142)

(169,881)

Less: net loss attributable to non-controlling interest

(220)

Net loss attributable to Digital Turbine, Inc.

(24,986)

(161,482)

(50,142)

(169,661)

Other comprehensive income (loss)

Foreign currency translation adjustment

2,157

(1,287)

944

(7,394)

Comprehensive loss

(22,829)

(162,769)

(49,198)

(177,275)

Less: comprehensive income attributable to non-controlling interest

519

Comprehensive loss attributable to Digital Turbine, Inc.

$      (22,829)

$        (162,769)

$   (49,198)

$ (177,794)

Net loss per common share

Basic

$          (0.24)

$              (1.61)

$       (0.49)

$       (1.69)

Diluted

$          (0.24)

$              (1.61)

$       (0.49)

$       (1.69)

Weighted-average common shares outstanding

Basic

103,041

100,604

102,722

100,272

Diluted

103,041

100,604

102,722

100,272

 

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(in thousands, except par value and share amounts)

September 30, 2024

March 31, 2024

(Unaudited)

ASSETS

Current assets

Cash and cash equivalents

$               32,765

$             33,605

Accounts receivable, net

191,612

191,015

Prepaid expenses

7,093

7,704

Other current assets

12,419

10,017

Total current assets

243,889

242,341

Property and equipment, net

48,159

45,782

Right-of-use assets

11,222

9,127

Intangible assets, net

285,848

313,505

Goodwill

221,059

220,072

Other non-current assets

34,309

34,713

TOTAL ASSETS

$             844,486

$           865,540

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable

$             148,062

$           159,200

Accrued revenue share

29,518

33,934

Accrued compensation

7,408

7,209

Other current liabilities

38,643

35,681

Total current liabilities

223,631

236,024

Long-term debt, net of debt issuance costs

407,620

383,490

Deferred tax liabilities, net

17,460

20,424

Other non-current liabilities

13,405

11,670

Total liabilities

662,116

651,608

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; 104,279,577 issued and 103,521,452 outstanding at September 30, 2024; 102,877,057 issued and 102,118,932 outstanding at March 31, 2024

10

10

Additional paid-in capital

875,827

858,191

Treasury stock (758,125 shares at September 30, 2024 and March 31, 2024)

(71)

(71)

Accumulated other comprehensive loss

(48,011)

(48,955)

Accumulated deficit

(645,485)

(595,343)

Total stockholders’ equity

182,370

213,932

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$             844,486

$           865,540

 

Digital Turbine, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(in thousands)

 

Three months ended September 30,

2024

2023

Cash flows from operating activities:

Net (loss) income

$          (24,986)

$        (161,482)

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

Depreciation and amortization

19,352

20,668

Non-cash interest expense

456

(147)

Allowance for credit losses

1,084

475

Stock-based compensation expense

8,999

9,016

Change in estimate of remaining contingent consideration

(200)

(372)

Right-of-use asset

(2,304)

1,173

Foreign exchange transaction loss

976

2,106

Impairment of goodwill

147,181

(Increase) decrease in assets:

Accounts receivable, gross

3,183

8,102

Prepaid expenses

(161)

(334)

Other current assets

(451)

Other non-current assets

(96)

(2,566)

Increase (decrease) in liabilities:

Accounts payable

(20,435)

1,663

Accrued revenue share

3,025

5,350

Accrued compensation

434

(1,906)

Other current liabilities

2,079

11,808

Deferred income taxes

(1,035)

(12,351)

Other non-current liabilities

1,361

(930)

Net cash provided by (used in) operating activities

(8,719)

27,454

Cash flows from investing activities

Capital expenditures

(7,477)

(7,001)

Net cash used in investing activities

(7,477)

(7,001)

Cash flows from financing activities

Proceeds from borrowings

21,000

12,000

Payment of debt issuance costs

(1,561)

Repayment of debt obligations

(6,000)

(34,136)

Acquisition of non-controlling interest in consolidated subsidiaries

Payment of withholding taxes for net share settlement of equity awards

(112)

(106)

Options exercised

79

1,998

Net cash provided by (used in) financing activities

13,406

(20,244)

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

(174)

(629)

Net change in cash and cash equivalents and restricted cash

(2,964)

(420)

Cash and cash equivalents and restricted cash, beginning of period

35,729

59,069

Cash and cash equivalents and restricted cash, end of period

$            32,765

$            58,649

 

REVENUE BY SEGMENT

(in thousands)

(Unaudited)

Three months ended September 30,

2024

2023

% Change

On Device Solutions

$           82,414

$           99,060

(17) %

App Growth Platform

37,346

46,183

(19) %

Elimination

(1,032)

(1,984)

(48) %

Consolidated

$         118,728

$         143,259

(17) %

 

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

(in thousands)

(Unaudited)

Three months ended September 30,

2024

2023

Net revenue

$      118,728

$      143,259

(Loss) income from operations

(13,542)

(152,617)

Add-back items:

Product development

9,433

14,037

Sales and marketing

15,887

15,537

General and administrative

42,176

41,385

Depreciation of software included in other direct costs of revenue

51

1,509

Impairment of goodwill

147,181

Non-GAAP gross profit

$        54,005

$        67,032

Non-GAAP gross profit percentage

45 %

47 %

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

(in thousands)

(Unaudited)

Three months ended September 30,

2024

2023

Net (loss) income

$      (24,986)

(161,482)

Add-back items:

Stock-based compensation expense

8,999

9,016

Amortization of intangibles

13,505

16,157

Change in fair value of contingent consideration

(200)

(372)

Tax adjustment (1)

7,200

Business transformation costs

237

2,528

Transaction-related expenses

79

Severance costs

268

809

Impairment of goodwill

147,181

Non-GAAP adjusted net income

$          5,023

$        13,916

Non-GAAP adjusted net income per common share

$            0.05

$            0.13

Weighted-average common shares outstanding, diluted

105,345

103,428

(1) Valuation allowance

 

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

(in thousands)

(Unaudited)

Three months ended September 30,

2024

2023

Net (loss) income

$          (24,986)

$        (161,482)

Add-back items:

Stock-based compensation expense

8,999

9,016

Depreciation and amortization

19,352

20,668

Interest expense, net

9,232

7,844

Other income (expense), net

36

Change in fair value of contingent consideration

(200)

(372)

Business transformation costs

237

2,528

Foreign exchange transaction (gain) loss

976

2,106

Income tax provision (benefit)

1,400

(713)

Transaction-related expenses

79

Severance costs

268

809

Impairment of goodwill

147,181

Non-GAAP adjusted EBITDA

$            15,314

$            27,664

 

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

(in thousands)

(Unaudited)

Three months ended September 30,

2024

2023

Net cash provided by (used in) operating activities

$            (8,719)

$            27,454

Capital expenditures

(7,477)

(7,001)

Transaction-related expenses

79

Severance costs

268

809

Business transformation costs

237

2,528

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

$          (15,691)

$            23,869

 

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SOURCE Digital Turbine, Inc.

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Technology

Loyyal’s Xpand Point Partners with Easyrewardz to bring Loyalty Points Exchange for Programs across Middle East, India, Europe and APAC

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Partnership to offer loyalty points exchange for travel, hospitality, and lifestyle rewards for banking customers beyond borders

DUBAI, UAE, Nov. 7, 2024 /PRNewswire/ — Easyrewardz, a leading provider of cloud-based CRM and loyalty platform, has announced a strategic partnership with Loyyal, a UAE-based pioneer in blockchain-powered loyalty solutions. This collaboration is set to redefine the loyalty landscape by introducing enhanced point conversion capabilities and offering unique, experiential redemption options, giving customers more flexible and engaging ways to use their loyalty points.

The collaboration will bring Loyyal’s innovative loyalty points exchange platform, Xpand Point to India’s BFSI (Banking, Financial, and Insurance) sector, integrating it with Easyrewardz Loyalty Management System (LMS) to provide businesses with tools that enhance customer retention and drive deeper engagement. Through this partnership, millions of banking members will unlock a new world of benefits, both within India and globally, with exciting opportunities to earn, redeem, and exchange points across various categories of offers.

This alliance brings together two industry leaders, creating a powerful synergy that enhances their value propositions and sets the stage for a transformation in the loyalty market. The partnership also taps into growth opportunities in the Middle East, Europe and APAC region, with a focus on high-demand markets like Saudi Arabia, UAE, UK, Germany, Turkey, Singapore, Hong Kong and Australia where the need for advanced loyalty programs is rapidly increasing. These opportunities will be harnessed through a comprehensive redemption catalogue and Loyyal’s Xpand Point platform, enabling seamless integration and enhanced member experiences.

Ashish Kumar Singh, CEO of Loyyal, quoted, “We are thrilled to partner with Easyrewardz to bring our blockchain-powered loyalty ecosystem to the BFSI sector in India. This collaboration represents a significant opportunity for both companies to innovate and redefine customer engagement across multiple markets, leveraging our combined strengths to deliver personalized and rewarding experiences.”

The partnership aims to create additional growth opportunities for both companies by establishing them as channel partners. Together, Easyrewardz and Loyyal will promote each other’s services, collaborate on marketing initiatives, and offer cross-platform solutions that amplify customer loyalty and engagement. This partnership will enable Easyrewardz to leverage Loyyal’s network of merchants and points exchange partners in India to its clients and prospects in the GCC region through a redemption catalogue and the Loyyal Points Exchange platform.

Soumya Chatterjee, Co-Founder & CEO of Easyrewardz, highlighted the broader impact of this collaboration, saying, “At Easyrewardz, we have always been committed to creating exceptional customer experiences by understanding and anticipating the needs of businesses.

Our partnership with Loyyal will not only allow us to deepen our presence in the BFSI sector but also open doors to new possibilities in the GCC region. Easyrewardz has always had a customer-centric approach and thus by integrating Loyyal’s innovative Points Exchange platform – Xpand Point, into our existing reward offering we are further enhancing our affluent offerings and catering to the growing demand in premium segments for outbound travel and experiences.  Together, we will reshape the way businesses approach loyalty, focusing on delivering exceptional value and driving sustainable growth for our clients across industries.”

This partnership is set to deliver significant benefits for businesses by enabling them to adopt more flexible, personalized, and data-driven loyalty programs. With the ability to engage customers at multiple touchpoints and simplify redemption processes, the combined expertise of Loyyal and Easyrewardz will offer unparalleled loyalty solutions that foster deeper customer relationships and generate long-term value.

Gunjan Kumar, Chief Revenue Officer of Loyyal, expressed the significance of this collaboration, stating, “Our partnership with Easyrewardz marks a pivotal step in redefining customer loyalty. By integrating Loyyal’s cutting-edge Xpand Point platform with Easyrewardz extensive expertise in the BFSI sector, we are crafting a robust solution that not only meets current demands but also anticipates future trends in customer engagement. Together, we are moving beyond mere transactional loyalty to foster deeper, lasting relationships that enhance member retention.”

As industries increasingly focus on retaining loyal customers and nurturing brand advocates, this partnership positions Loyyal and Easyrewardz at the forefront of innovation, offering businesses the tools and strategies they need to remain competitive in the rapidly evolving loyalty landscape.

About Loyyal

Loyyal is renowned for its innovative Enterprise SAAS Suite for Loyalty & Payments powered with patented blockchain technology, based in UAE, US and India. Loyyal SAAS disrupts loyalty industry with metrics of incremental revenue, rapid growth and scalability at the lowest possible cost. Xpand Point, the world’s first blockchain enabled loyalty points exchange platform leverages Loyyal’s unique USP to empower every program with interoperable exchange facility across different programs, categories both locally and internationally. For more information, please visit www.loyyal.com for PR related queries contact Janis.dsouza@loyyal.com.

About Easyrewardz

Easyrewardz is an industry-agnostic cloud-based CRM & Loyalty platform that enables seamless omnichannel customer experience. Easyrewardz innovative ways to engage new customers & retain existing ones by leveraging technology are helping businesses embrace digital disruption leading to excellent customer experiences. Easyrewardz has more than a decade experience in managing BFSI, Retail and B2B loyalty & CRM programs to provide a seamless & rewarding experience to their customers, enabling consistent engagement.

More than 180 brands, including RBL Bank, Kotak Bank, J&K Bank, Bajaj Finserv, IIFL, Muthoot Fincorp, Bata (India & APAC), BESTSELLER, The Belgian Waffle, The Body Shop, Levi’s, Soch, Senco, and Motherhood Hospitals have trusted Easyrewardz to create brand markers and delight customer. For more information, please visit www.Easyrewardz.com

Photo – https://mma.prnewswire.com/media/2550900/Loyyal_and_Easyrewardz.jpg

 

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XtalPi and Sinar Mas Multiartha Launch Strategic Partnership to Revolutionize AI Across Asia-Pacific

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SINGAPORE, Nov. 7, 2024 /PRNewswire/ — XtalPi (2228.HK) has announced a strategic partnership with Indonesia’s powerhouse, led by one of its prominent business pillar Sinar Mas Multiartha. This landmark collaboration is set to transform the future of artificial intelligence (AI) and robotics across the Asia-Pacific region. By establishing an ambitious joint venture, the alliance will integrate XtalPi’s cutting-edge AI and robotics research capabilities with Sinar Mas Group’s extensive industry reach, setting the stage for a commercial and technological revolution.

Sinar Mas Group, one of Indonesia’s most influential and diversified conglomerates, maintains a commanding presence across sectors such as healthcare, mining, renewable energy, logistics, consumer goods, chemicals, and financial services. With its robust supply chain and deep market penetration across the Asia-Pacific, the Group is well-positioned to drive industry innovation through advanced AI solutions, reshaping the region’s economic landscape.

XtalPi is a global leader in integrating AI and robotics for life sciences and advanced materials R&D, collaborating with over 300 top-tier enterprises and research institutions worldwide. Known for transforming scientific discoveries into commercially viable technologies, XtalPi has developed groundbreaking platforms that empower scientists to generate and analyze innovative, complex chemical and biological molecules of desired properties and functions at exceptional speed and precision. 

Founded in 2015 by three visionary MIT postdoctoral physicists, XtalPi has been at the forefront of advancements in AI for Science. By combining quantum physics, AI, cloud computing, and large-scale robotics, XtalPi delivers world-class R&D services that solve bottleneck problems and accelerate innovation in medicine, renewable energy, advanced materials, and beyond. XtalPi positions itself as a transformative force reshaping global industries, helping its partners increase the overall efficiency and success rate for breakthrough discoveries.

The partnership between XtalPi and Sinar Mas Group is set to unlock a powerful synergy of expertise. By delivering pioneering, commercially potent solutions across various sectors, this venture will drive significant revenue growth and fuel regional economic expansion. Together, the companies aim to seize opportunities in Southeast Asia’s booming AI market, setting new benchmarks for innovation, competitiveness, and economic influence.

“We are honored to join forces with Sinar Mas Group to realize our shared vision of using advanced technologies like AI to build a healthier, more sustainable future rich in discoveries,” said Shuhao Wen, Chairman of XtalPi. “The Group’s extensive industrial expertise and strategic market reach, combined with XtalPi’s trailblazing AI and robotics platform, will enable us to lead digital and intelligent transformation in key sectors such as renewable energy and advanced materials. We are thrilled about the unprecedented commercial potential this partnership unlocks, bringing next-generation solutions to Southeast Asia and beyond, benefiting global communities.”

By merging their strengths, XtalPi and Sinar Mas Group are set to redefine AI’s impact on industries across the Asia-Pacific, igniting accelerated growth and groundbreaking technological advancements. Together, they are paving the way for a smarter, more sustainable future.

About XtalPi

XtalPi (stock code: 2228.HK) is a quantum physics-based, AI-powered, and robotics-driven, innovative R&D platform company. Established in 2015 by three postdoctoral physicists at Massachusetts Institute of Technology (MIT), the company is dedicated to driving intelligent and digital transformation in the life sciences and materials sciences sectors. XtalPi combines quantum physics, AI, cloud computing, and large-scale robotics to provide R&D solutions and services for biomedicine, chemical, renewable energy and advanced materials industries globally.

About Sinar Mas Group

Sinar Mas Group, one of Indonesia’s most influential and diversified conglomerates, maintains a commanding presence across sectors such as healthcare, mining, renewable energy, logistics, consumer goods, chemicals, and financial services. With its robust supply chain and deep market penetration across the Asia-Pacific, the Group is well-positioned to drive industry innovation through advanced AI solutions, reshaping the region’s economic landscape.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/xtalpi-and-sinar-mas-multiartha-launch-strategic-partnership-to-revolutionize-ai-across-asia-pacific-302298273.html

SOURCE XtalPi Inc.

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SkyPixel and DJI Call on Creators for 10th Annual Photo and Video Contest

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Entrants Invited to Share Creativity and Win Prizes Totaling Over $170,000

SHENZHEN, China, Nov. 6, 2024 /PRNewswire/ — DJI and SkyPixel, one of the world’s most popular online communities for aerial photography and videography, have opened the 10th anniversary of the Annual SkyPixel Photo & Video Contest. Running from November 7, 2024, to February 10, 2025, the competition showcases the evolution of aerial photography over the past ten years with an ever-increasing number of people appreciating other’s unique forms of expression found on the community site. As part of this evolution, this year will include the first ever ‘Handheld’ category in response to the growing number of people using handheld cameras to showcase their talent. To recognize the creativity submitted, the total prize package is worth over $170,000.

“Beauty is in the eye of the beholder, and for 10 years now, the SkyPixel Annual Photo & Video Contest has been proud to award photographers and videographers for capturing and sharing their perspective of beauty with the world,” said Ferdinand Wolf, Creative Director at DJI. “The SkyPixel platform continues to be a community that ignites imaginations, reimagines the art of imagery, and embraces the diverse experiences of individuals and communities across the world.”

Ten Years Celebrating Creativity

Established in 2014, SkyPixel is a leading global community celebrating the remarkable stories that have shaped the art of image capture. The platform has become a huge success, garnering over 55 million registered users and accumulating over 50 million breathtaking aerial images and videos uploaded daily by photography and videography enthusiasts around the globe.

Since 2015, SkyPixel has successfully organized nine annual aerial photography and video contests, inspiring the imaginativeness of DJI users worldwide, resulting in more than 400k submissions from around the globe that have received over 1 billion views. Whether using handheld DJI cameras like the Osmo and Ronin series or DJI’s diverse line of drones that can empower anyone to become an aerial cinematographer, the magnitude of submissions and community engagement is testament to the exceptional creativity of the DJI community and the ability of DJI technology to help anyone anywhere capture uniquely individual cinematic moments.

Explore Without Limits

In the tenth iteration of the contest, DJI and SkyPixel are placing the boundless potential of human expression at the center of the competition, encouraging participants to “Explore Without Limits” which is the central theme. To ignite the artistic passion within all DJI users and support as many entries as possible, the categories for this year’s contest have been simplified to just three separate categories, namely Aerial Photography, Aerial Videography and Handheld Videography.  Furthermore, for the first time, contestants can also submit their entries via all DJI social media channels. Alongside the “Aerial Photography” and “Aerial Videography” categories, this year’s SkyPixel competition is unveiling the all new “Handheld” video category, opening up the award to people who chose to share their creativity from the ground. Meanwhile, each month will feature “Popularity Awards” recognizing content that explores new trends or innovate art.

Details of the SkyPixel 10th Annual Photo & Video Contest

The photo contest consists of one category:

Aerial Photography
Overlooking the world, framing moments of eternity. Whether awe-inspiring nature or grand architecture, energetic sporting moments or portraits brimming with emotion – all show the charm of the art of photography.Entries must be shot on aerial photography equipment and entered as a single work with a single image of no less than 3MB and a resolution of no less than 300dpi.Inspire / Mavic / Air / Mini / Phantom series, DJI Neo are eligible to participate.

The video contest is comprised of two categories:

Aerial Videography
Soar through the skies and capture the magnificent beauty of the earth. From natural wonders to urban jungles within cities, from impassioned sporting events to tranquil or colorful getaways – push the limits and let your creativity shine.Entries must be no longer than 5 minutes in length with no less than 30 seconds of footage shot on DJI products.Entries must contain more than 50% aerial footage.Inspire / Mavic / Air / Mini / Avata / Phantom series, DJI FPV / DJI Neo are eligible to participate.Handheld Videography
Hold the camera and record the most intimate moments of life. Whether it’s the pulse of the city, the serenity of nature, the speed and passion of the sports field, the excitement and experience of travel, you are free to interpret the spirit of the footage and tell your unique story.Entries must be no longer than 5 minutes in length with no less than 30 seconds of footage shot on DJI products.Entries must contain more than 50% handheld footage.Ronin Stabilizer / Ronin Cinema Cameras / Osmo Action / Osmo Pocket / Osmo Mobile series are eligible to participate.

Always fly with caution, observe the flight environment, and follow local regulations at all times.

Industry Leading Judges

This year’s SkyPixel submissions will be judged by some of the leading videographers and photographers from across the globe.

In photography, there are pioneering experts such as:

Anne Farrar, Assistant Managing Editor-Photography at National Geographic MagazineWeimin Chu, renowned landscape photographer, winner of the 2019 National Geographic Travel Photo Contest, 2023 World Press Photo Award, and 2024 Hasselblad Masters AwardDaniel Kordan, renowned landscape photographerLuke Stackpoole, trailblazer in the world of travel and adventure photography.

In the video category, industry heavy-weights include:

Claudio Miranda, Academy Award-winning cinematographer known for projects including Life of Pi, The Curious Case of Benjamin Button, and Top Gun: MaverickChenyu Jin, Director of Photography known for Blossoms Shanghai and Like A Rolling StoneTianhong Pan, Director of Photography for Commercials, founder of the well-known self-media MediaStormSam Newton, renowned travel filmmaker.

Bonanza of Prizes

This year, SkyPixel and DJI will award three ‘Grand Winners’ and give away more than 80 prizes over the course of the competition with a total value of over US $170,000. For the Grand Winners awarded “Best Work”:

The winning photo participant will receive an all-new Hasselblad X2D 100C, XCD 3.5-4.5/35-75mm, and an XCD F4/45P (worth over $14,000)The winning aerial video participant will receive a DJI Inspire 3 drone, a DL 18 mm F2.8, PROSSD 1TB, and two TB51 Batteries (worth over $20,000)The winning handheld video participant will be awarded a DJI Ronin 4D-8K cinema camera, DJI Transmission, and two TB50 batteries (worth over $15,000).

All grand winners will also receive a SkyPixel trophy and be recognized as an official “SkyPixel Creator.” The full list of awards can be seen on the official SkyPixel website and includes prizes such as the DJI Mavic 3 Pro, DJI Air 3S, DJI Avata 2, and the Osmo Pocket 3. All entrants will also receive DJI credits which can be used at store.dji.com.

 Submission Details

Submission Start Date: November 7, 2024, 12:00 (UTC+8)Submission End Date: February 10, 2025, 23:59 (UTC+8)Award Announcement: March 27, 2025, 12:00 (UTC+8)

Submissions will be accepted via the official SkyPixel website and all DJI social media channels. Interested participants can visit the SkyPixel 10th Annual Photo & Video Contest website for more information on contest rules and guidelines: https://www.skypixel.com/contests/2024.

About SkyPixel

Founded in 2014, SkyPixel is a leading global community for aerial photographers and videographers. The platform has over 55 million registered users and hosts thousands of aerial images and videos uploaded daily around the world. In November 2023, SkyPixel hosted its 9th annual aerial photo and video contest and received over 130,000 submissions from 148 countries and regions – a 100% increase from 2022. For more info, please visit https://www.skypixel.com.

About DJI

Since 2006, DJI has led the world with civilian drone innovations that have empowered individuals to take flight for the first time, visionaries to turn their imagination into reality, and professionals to transform their work entirely. Today, DJI serves to build a better world by continuously promoting human advancement. With a solution-oriented mindset and genuine curiosity, DJI has expanded its ambitions into areas such as cycling, renewable energy, agriculture, public safety, surveying and mapping, and infrastructure inspection. In every application, DJI products deliver experiences that add value to lives around the world in more profound ways than ever before.

For more information, visit our:

Website: https://www.dji.com
Online Store: https://store.dji.com
Facebook: https://www.facebook.com/DJI
Instagram: https://www.instagram.com/DJIGlobal
X: https://www.X.com/DJIGlobal
LinkedIn: https://www.linkedin.com/company/dji
Subscribe to our YouTube Channel: https://www.youtube.com/DJI

View original content:https://www.prnewswire.com/news-releases/skypixel-and-dji-call-on-creators-for-10th-annual-photo-and-video-contest-302297246.html

SOURCE DJI; SkyPixel

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