NowVertical Group Inc. Announces Q2 2024 Financial Results and Investor Webinar NowVertical is pleased to share our financial results for Q2 2024, along with key highlights and upcoming events. Join us for our Investor Webinar on Monday, August 19, 2024, at 10:00 AM Eastern Time to dive deeper into these results and engage in a Q&A session with our management team. Q2 2024 Financial Highlights: ✅ Revenue: $12.3M, a 12% decrease Y/Y; ✅ Adjusted Revenue: $9.4M, a 2% increase Y/Y ✅ Gross Profit: $6.5M (Gross Margin: 53%) ✅ Adjusted EBITDA: $1.8M, an 18% increase Y/Y ✅ Net Income: $1.9M; Net Income per share: $0.02 Operational Excellence: ✅ Improved our balance sheet through strategic amendments and settlements. ✅ Enhanced leadership with the appointment of David Doritty as an independent director. ✅ Strengthened focus on core business by divesting non-core assets. Read release here: https://lnkd.in/gbxUWcCP Investor Webinar Details: 📅 Date: Monday, August 19, 2024 🕙 Time: 10:00 AM Eastern Time 🔗 Register here: https://bit.ly/NOW-Q2
NowVertical Group Inc.
Technology, Information and Internet
Enabling AI in Industry and Government
About us
NOW (TSXV: NOW)(OTCQB: NOWVF) Enabling AI in Industry and Government. NowVertical Group is a Vertical Intelligence (VI) software and services provider that delivers vertically-specific data, technology, and artificial intelligence (AI) applications into private and public verticals globally. NOW's proprietary solutions sit at the foundation of the modern enterprise by transforming AI investments into VI, enabling its customers to minimize their risk, accelerate the time to value, and reduce costs. NOW is rapidly growing organically and through targeted acquisitions. For more information about NOW, visit www.nowvertical.com.
- Website
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http://www.nowvertical.com
External link for NowVertical Group Inc.
- Industry
- Technology, Information and Internet
- Company size
- 201-500 employees
- Headquarters
- Global
- Type
- Public Company
Locations
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Primary
Global, 10011, US
Employees at NowVertical Group Inc.
Updates
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NowVertical Group Advances “One Brand, One Business” Strategy NowVertical is pleased to announce the launch of our unified proposition strategy, a major step in our "One Brand, One Business" approach. Key highlights: Unified Offerings: 13 solutions and 11 services are now streamlined for significant customer value. Growth & Profitability: Enhanced cross-selling and market expansion. New Website: Explore our offerings at www.nowvertical.com. Visit our redesigned website for more details and check out our latest corporate update webinar. Let's drive growth together! Read the full release here: https://lnkd.in/gcGMnS_i $NOW.V #DataAnalytics #AI #BusinessGrowth #OneBrandOneBusiness
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NowVertical Group Inc. reposted this
Join us tomorrow, July 12th, at 10:00 a.m. EST, for a live corporate webinar hosted by our CEO, Sandeep Mendiratta and members of the management team. Discover insights into our operations, milestones, and the 2024 outlook. Why Attend? Hear about our integration strategy and progress. Learn about upcoming milestones. Engage in a live Q&A session. Register Now: https://lnkd.in/gKqn8MGw
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Join us tomorrow, July 12th, at 10:00 a.m. EST, for a live corporate webinar hosted by our CEO, Sandeep Mendiratta and members of the management team. Discover insights into our operations, milestones, and the 2024 outlook. Why Attend? Hear about our integration strategy and progress. Learn about upcoming milestones. Engage in a live Q&A session. Register Now: https://lnkd.in/gKqn8MGw
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Join NowVertical on July 12th at 10:00 am ET for a live webinar hosted by our CEO, Sandeep Mendiratta. Discover insights into our operations, milestones, and the 2024 outlook. Hear about our integration strategy and progress. Engage in a live Q&A session. Date: Friday, July 12th, 2024 Time: 10:00 am ET Register Now: https://lnkd.in/gKqn8MGw
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NowVertical is pleased to announce it has fulfilled former obligations and enhanced shareholder alignment, positioning it for future growth and stability. This move aligns management's interests closely with those of our shareholders, as Sandeep Mendiratta now owns approximately ten percent of NOW's voting shares. Read full release here https://lnkd.in/gWKzuCd9 #ShareholderAlignment #DataAnalytics #AI #BusinessGrowth #Investment #NowVertical
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NowVertical is pleased to share our financial performance for the first quarter of 2024. Key Highlights: Revenue: $12.9 million, a 3% increase over Q1 2023 Income from Operations: $0.2 million, a 120% increase over Q1 2023 Adjusted EBITDA: $1.6 million, a 314% increase over Q1 2023 Our CEO, Sandeep Mendiratta, stated, "We made significant progress in the first quarter on multiple fronts, including leadership and governance, reconfiguring our go-to-market strategy, and implementing an aggressive strategic integration and restructuring plan. This quarter was a transitional period as we initiated the implementation of our One Brand, One Business strategy. Supported by our operator-first model, we are executing this strategy across multiple dimensions of our business. These changes enable us to focus on profitability and sustainability and long-term value creation, with positive results expected to build quarter over quarter as we move forward with our growth plan." Read Release: https://lnkd.in/g7_j6HeV Upcoming Investor Webinar: Join us on May 31, 2024, at 9:30 AM ET for our investor webinar where we'll discuss our Q1 2024 results and future outlook. Register here: NOW Q1 2024 Webinar #FinancialResults #DataAnalytics #AI #NOWVertical
NowVertical Group Reports First Quarter 2024 Financial Results
https://nowvertical.com
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NOW today announced the strategic disposition of Allegient Defense for a gross consideration up to $12.5 million. This sale aligns with NowVertical’s commitment to optimizing our core business strategy and integration. Strategic Benefits for NowVertical: Focusing on Core Assets: Allegient's specialized SETA work accounted for less than 5% of its revenue from AI/ML and data solutions. This sale allows Allegient to thrive in its niche while we focus on our "One Business, One Brand" strategy. Enhanced EBITDA and Margins: Allegient's cost-plus-fixed-fee structure provided consistent but limited margins. Now, we can concentrate on scalable and optimized operations, achieving higher margins across our core business. Financial Flexibility: The $7.5 million in cash received at closing, along with additional payments, provides significant financial flexibility. The proceeds will help reduce overall debt significantly clear acquisition liabilities, and invest in business growth. Debt Reduction: This transaction clears $3.8 million of debt from our balance sheet, significantly reducing our debt liabilities. Supporting Growth: The sale enables strategic investments in our integrated business, supporting our growth plans and enhancing financial health. Following this disposition, we will continue serving government clients in North America, UK, EMEA, and LATAM markets, ensuring consistent delivery of our data and AI solutions. Read the full release at: https://lnkd.in/gK72eVPj For more detailed insights about the disposition, watch a video prepared by Sandeep Mendiratta, available at: bit.ly/NOWDealInsights For further details about NowVertical Group Inc., #NowVertical #BusinessGrowth #StrategicSale #DebtReduction #AI #DataAnalytics #PublicSector #Innovation #SustainableGrowth
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NOW is pleased to announce that we'll release our Q1 2024 financial results on May 30th after-market hours. Join us on May 31st at 9:30 AM ET for a financial webinar where our CEO Sandeep Mendiratta, CDO Andre Garber, and Interim CFO Christine Nelson will discuss the numbers and our business outlook. shareholders, analysts, investors, and media are invited. Read more: https://lnkd.in/gQ_VTNuW
NowVertical Group Announces First Quarter 2024 Earnings Release Date and Financial Webinar
https://nowvertical.com
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NowVertical is pleased to announce David Doritty's appointment as Independent Director at NowVertical. Read the release: https://lnkd.in/dHCh9D-8 His wealth of experience in capital markets and governance will greatly benefit our board. Welcome aboard, David. #NowVertical #Leadership #Governance #CapitalMarkets