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Pluribus Technologies Corp. Announces Q2 2024 Financial Results

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2 years ago

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Second quarter highlighted by the Company’s continued focus on the strategic review

TORONTO, Aug. 29, 2024 /PRNewswire/ – Pluribus Technologies Corp. (TSXV: PLRB) (“Pluribus” or the “Company”), a growing acquiror of small, profitable technology companies, today announced its financial results for the second quarter ended June 30, 2024. The Company’s consolidated financial statements and accompanying notes for the quarters ended June 30, 2024 and 2023 are available under Pluribus’ profile on SEDAR+ (www.sedarplus.ca).

All dollar amounts are in thousands of Canadian dollars unless otherwise noted. Certain metrics, including Adjusted EBITDA, are non-IFRS measures (see Non-IFRS Measures below).

“As we finalize our strategic review, our priority is to restructure the balance sheet and reduce debt,” said Richard Adair, CEO of Pluribus. “Our focus is now on driving growth for our remaining businesses as we move forward.”

Selected Financial and Business Highlights for the Second Quarter

During the second quarter of 2024 as part of the strategic review undertaken by the Company’s Special Committee, management decided to proceed with a sale process to dispose of its Digital Enablement and POWR businesses. The Company has not reached a definitive arrangement to sell these businesses. All figures referenced therein are from continuing operations, therefore excluding the results of Digital Enablement and POWR, unless otherwise noted.Revenue for the quarter increased by $33 or 1% from $4,965 in 2023 to $4,998 in 2024. The increase in revenue was primarily driven by eLearning ($143), offset by a decline in eCommerce revenue ($110). Revenue for the six months ended June 30, 2024 increased by $1,043 or 10% from $10,031 in 2023 to $11,074 in 2024. The increase in revenue was primarily driven by the Learning Network perpetual license sale in Q1 2024 ($1,109).Adjusted EBITDA1 for the quarter increased by $547, or 68% from ($802) in 2023 to ($255) in 2024, while Adjusted EBITDA for the six months ended June 30, 2024 increased by $2,325, or 137% from ($1,697) in 2023 to $628 in 2024. The change for both periods was driven by the increase in revenue and lower cost base following the restructuring undertaken by the Company in 2023. While the Company undertakes the sale process to divest of POWR and Digital Enablement, the shared services to support these businesses have been retained at Corporate and the associated costs are fully burdening continuing operations.The Company incurred a net loss of $4,062 for the quarter ended June 30, 2024 compared to a net loss of $3,504 for the comparable period in 2023. The increase in the net loss was primarily due to an impairment charge taken against Social5 goodwill ($1,643), offset by the increase in Adjusted EBITDA ($547). The Company incurred a net loss of $6,453 for the six months ended June 30, 2024 compared to a net loss of $6,443 for the comparable period. This flat trend was primarily attributable to the increase in Adjusted EBITDA ($2,325), offset by the impairment charge booked to Social5 goodwill ($1,643) and an increase in income tax expense ($468).Cash on hand from continuing operations at June 30, 2024 was $1,067, of which $467 was restricted, compared with $1,279 on December 31, 2023. Subsequent to June 30, 2024, National Bank released the restricted balance to the Company to use for net working capital requirements.The Company signed a forbearance agreement with National Bank in January 18, 2024. The agreement was subsequently amended multiple times. On August 16, 2024, the Company and National Bank entered into a second forbearance agreement whereby National Bank will continue to forbear from exercising its rights and remedies under the Credit Agreement until the earlier of September 16, 2024 and the occurrence of any terminating event. The Company has provided a covenant to close a certain sale transaction, in respect of which the Company has executed a non-binding letter of intent, on or before September 16, 2024.

1 Adjusted EBITDA is a non-IFRS measure as described in the Non-IFRS Measures section of this news release. These measures are not recognized measures under IFRS, do not have a standardized meaning under IFRS and are therefore unlikely to be comparable to similar measures presented by other companies.

Results of Operations

(000’s)

Three Months

Six Months

For the period ended June 30,

2024

2023

Var

Var

2024

2023

Var

Var

$

$

$

%

$

$

$

%

Revenue

4,998

4,965

33

1 %

11,074

10,031

1,043

10 %

Gross Profit

2,843

2,495

348

14 %

6,829

5,013

1,816

36 %

Operating Expenses

3,098

3,297

(199)

-6 %

6,201

6,710

(509)

-8 %

Non-Operational Expenses

3,815

2,772

1,043

38 %

6,851

4,984

1,867

37 %

Net Loss from continuing operations after tax

(4,062)

(3,504)

(558)

16 %

(6,453)

(6,443)

(10)

0 %

Net Income (Loss) from discontinued operations after tax     

(9,908)

1,375

(11,283)

-821 %

(9,020)

2,568

(11,588)

-451 %

Adjusted EBITDA

(255)

(802)

547

-68 %

628

(1,697)

2,325

-137 %

Adjusted EBITDA %

-5.1 %

-16.2 %

5.7 %

-16.9 %

Outlook

The Special Committee continues its previously communicated strategic review to explore alternatives to optimize its capital structure including reviewing the remaining verticals to determine which are core and non-core based on their growth potential and looking at refinancing opportunities.

The Board of Directors and Management determined selling Digital Enablement and POWR would provide the necessary liquidity to allow the Company to continue to deleverage and reduce the debt with National Bank while still leaving the profitable eLearning vertical as a strategic asset where value can be grown.

About Pluribus Technologies Corp.

Pluribus is a technology company that is a value-based acquirer and operator of small, profitable business-to-business technology companies in a range of verticals and industries. Pluribus provides its acquisitions access to experienced sales and marketing resources, strategic partnership opportunities, a diverse portfolio of customers in different geographical markets and enabling technologies to create new revenue streams and provide the opportunity for these companies to grow in their respective markets. When market conditions are conducive to raising capital at reasonable costs, Pluribus focuses on rapidly acquiring and integrating new acquisitions to accelerate growth. When the environment does not support this, Pluribus focuses on implementing strategies to maximize organic growth and increase cashflow from operations in its existing portfolio companies. For more information, please visit: pluribustechnologies.com

Non-IFRS Measures

The Company uses non-IFRS measures to assess its operating performance. Securities regulations require that companies caution readers that earnings and other measures adjusted to a basis other than IFRS do not have standardized meanings and are unlikely to be comparable to similar measures used by other companies. Accordingly, they should not be considered in isolation. The Company uses Adjusted EBITDA as a measure of operating performance. Management uses Adjusted EBITDA to evaluate operating performance as it excludes amortization of software and intangibles (which is an accounting allocation of the cost of software and intangible assets arising on acquisition), any impact of finance and tax related activities, asset depreciation, foreign exchange gains and losses, other income, restructuring and transition costs primarily related to acquisitions and other one-time non-recurring transactions.

Reconciliation of Non-IFRS Measures

The Company uses the non-IFRS measure Adjusted EBITDA to evaluate performance. The following table presents the reconciliation from net income (loss) to Adjusted EBITDA from continuing operations for the three and six months ended June 30, 2024.

Three Months

Six Months

For the period ended June 30,

2024

2023

Var

Var

2024

2023

Var

Var

$

$

$

%

$

$

$

%

Total Revenue

4,998

4,965

33

1 %

11,074

10,031

1,043

10 %

Net income (loss) for the period

(4,062)

(3,504)

(558)

16 %

(6,453)

(6,443)

(10)

0 %

Acquisition costs

614

775

(161)

-21 %

1,535

1,262

273

22 %

Amortization and depreciation

628

859

(231)

-27 %

1,292

1,578

(286)

-18 %

Impairment of goodwill

1,643

—

1,643

n/a

1,643

—

1,643

n/a

Share-based compensation

13

122

(109)

-89 %

49

278

(229)

-82 %

Loss (gain) on revaluation of contingent consideration     

(150)

—

(150)

n/a

330

—

330

n/a

Finance expense, net

816

703

113

16 %

1,673

1,430

243

17 %

Foreign exchange loss (gain)

251

313

(62)

-20 %

329

436

(107)

-25 %

Income tax expense

(8)

(70)

62

-89 %

230

(238)

468

-197 %

Total Adjustments

3,807

2,702

1,105

41 %

7,081

4,746

2,335

49 %

Adjusted EBITDA

(255)

(802)

547

-68 %

628

(1,697)

2,325

-137 %

Adjusted EBITDA %

-5.1 %

-16.2 %

5.7 %

-16.9 %

Forward-Looking Information

Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements with respect to the business plans of the Company, including the successful completion of future acquisitions, management’s expectation on the growth, profitability and performance of its current and future acquisitions, the Company’s ability to continue acquiring business-to-business technology companies at reasonable prices, the Company’s ability to grow its portfolio companies into significant organizations, the benefits from the proposed sale of its Digital Enablement and POWR businesses and the Company’s ability to achieve a positive transaction pursuant to its strategic review process. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or negatives of these terms and similar expressions. 

Forward-looking statements are based on certain assumptions, including the Company’s ability to complete acquisitions on favourable terms; the Company’s ability to manage a complex portfolio of companies effectively; the Company’s ability to scale its management team to support its growth; the Company’s ability to raise sufficient financing to continue its acquisition strategy; the Company’s ability to achieve positive results pursuant to its strategic review process. Other assumptions include industry trends, the availability of growth opportunities, and general business, economic, competitive, political, regulatory and social uncertainties will not prevent the Company from conducting its business. While the Company considers these assumptions to be reasonable based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Forward-looking information speaks only to such assumptions as of the date of this release.

Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the Company’s limited operating history; ability to complete favourable acquisitions; the technology industry in Canada and internationally, income tax and regulatory matters, the ability of the Company to execute its business strategies, including the ability manage a complex portfolio of companies effectively, competition, currency and interest rate fluctuations, and other risks.

Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management’s expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

Contact:

Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 (800) 851-9383

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SOURCE Pluribus Technologies Corp.

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Technology

BRIDGE Appoints Morgan Jetto As Executive Vice President, Business Development & Ecosystems

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17 minutes ago

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April 21, 2026

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Industry Veteran to Lead Strategic Partnerships as BRIDGE Extends Its Position as the Trusted Partner for Audience Targeting, Curation, and Agentic Audience Targeting

NEW YORK, Apr. 21, 2026 /PRNewswire/ — BRIDGE, the verified people-data layer for advertising and marketing, today announced the appointment of Morgan Jetto as Executive Vice President, Business Development & Ecosystems. In this newly created role, Jetto will drive BRIDGE’s partnership strategy, expand its ecosystem of data and media integrations, and accelerate revenue growth across its key growth verticals as demand for verified data surges.

“Morgan brings a rare combination of deep industry relationships, strategic vision, and hands-on execution,” said Robert Rose, CEO of BRIDGE. “The industry is moving toward verified identity, curated audiences advertisers can trust, and agentic audience targeting that needs real, consent-audited people data underneath it. BRIDGE sits at the center of all three shifts, and Morgan’s leadership will help us extend that foundation to every agency, platform, and AI builder who needs it.”

Jetto joins BRIDGE from Verve Group, where he served as Senior Vice President and General Manager. His career spans nearly two decades of proven senior roles in AdTech and MarTech — including global partnerships at Yahoo, client leadership at GroupM, as well as board and advisory roles — with a consistent focus on building partnerships at the intersection of data, media, and emerging technology.

“BRIDGE has built something genuinely differentiated — a verified, people-based data foundation the industry urgently needs, and an architecture built for the next generation of agentic audience targeting,” said Jetto. “I’m excited to join at this critical and pivotal moment and help expand the ecosystem of partners, platforms, and clients who can benefit from the differentiated foundation BRIDGE has built— and I’m just getting started.”

BRIDGE is the verified people-data layer for advertising and marketing — the trusted foundation agencies, brands, platforms, and AI builders rely on for audience targeting and curation. Every record is a real person, verified through the Data Safe™ methodology. The CONNECT platform activates the same verified person across CTV, digital, social, email, audio, programmatic, and direct mail, and is built for agentic audience targeting through Connect MCP. People Match™ closes the loop with deterministic attribution. BRIDGE powers 160,000+ campaigns annually and has been ranked #1 for data accuracy by Truthset — an independent third party — for five consecutive years. The graph includes 412.9M verified consumers and business people and 679.8M permission-based emails, anchored on SOC2, SOC3, and HIPAA compliance. Learn more at www.thebridgecorp.com.

Media Contact

Karen Nordahl
BRIDGE
Director, Human Resources 
connect@thebridgecorp.com
+1 ( 212) 991-5633

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SOLOWIN HOLDINGS Expects Revenue in the Range of $27 Million to $29 Million, Approximately 10x Year-over-Year Growth for the Fiscal Year Ended March 31, 2026 Based on Preliminary Unaudited Results

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17 minutes ago

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April 21, 2026

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HONG KONG, April 21, 2026 /PRNewswire/ — SOLOWIN HOLDINGS (Nasdaq: AXG) (“SOLOWIN,” the “Company,” or “we”), a leading financial technology firm bridging traditional and digital assets, today announced certain preliminary, unaudited financial results for the fiscal year ended March 31, 2026. Driven by the rapid expansion of its digital asset tokenization, stablecoin infrastructure, and AI-powered services, the Company delivered exceptional top-line growth for the fiscal year ended March 31, 2026, as it advances its global framework compliance and institutional-grade service strategy.

The preliminary financial results described in this press release are unaudited and based on management’s current estimates of our results for the fiscal year ended March 31, 2026. These figures are subject to the completion of our customary year-end financial closing procedures and audit by the Company’s independent registered public accounting firm. No assurance can be given that final audited results will not differ materially from these preliminary estimates, and any such differences could be significant. We expect to file our audited financial results for the fiscal year ended March 31, 2026, with the U.S. Securities and Exchange Commission in our Annual Report on Form 20-F, which is expected to be filed in July 2026.

Overall Performance

Revenue increased nearly tenfold year over year to between $27 million and $29 million for the fiscal year ended March 31, 2026.

Net loss was in the range of $11 million to $13 million, reflecting continued investment in technology, compliance, and global business expansion.

Financial Condition

As of March 31, 2026, cash and cash equivalents increased to between $14 million and $16 million.

Net cash used in operating activities was in the range of $12 million to $14 million for the year ended March 31, 2026. The increase in receivables from customers was the primary driver of the cash used in operating activities during the current period.

Net cash provided by investing activities was in the range of $1 million to $3 million for the year ended March 31, 2026, mainly consisting of cash and bank balances arising from acquisition of subsidiaries, partly offset by purchases of short-term investments.

Net cash provided by financing activities increased to between $18 million and $20 million for the year ended March 31, 2026, mainly representing the proceeds from capital injections from investors.

Strategic Overview

Against a backdrop of accelerating institutional adoption, maturing global regulation, and deepening integration of AI and blockchain, SOLOWIN has further consolidated its position as a fully compliant, vertically integrated digital financial platform, with a clear dual-token strategy focused on Digital Asset Tokens and AI Tokens. The Company’s ecosystem spans stablecoin issuance and payments, asset tokenization, securities trading and asset management, as well as AI-powered services.

Management Commentary

Mr. Lok Ling Ngai, Chief Executive Officer and Chairman of SOLOWIN, stated: “Fiscal 2026 marks a transformative year for SOLOWIN. Achieving tenfold revenue growth represents more than a financial milestone, it validates the strength of our dual-token strategy and underscores the accelerating global demand for compliant, institutional-grade digital asset infrastructure. We are uniquely positioned at the convergence of three structural shifts reshaping our industry: the advancement of regulatory frameworks, the rapid adoption of tokenization, and the integration of AI with blockchain technologies.”

“Guided by our mission ‘Mobilizing Tokens 24/7,’ we are building a secure, efficient, and fully regulated digital financial ecosystem. Over the past year, we have significantly strengthened and expanded our stablecoin and payment infrastructure, scaled our asset tokenization capabilities, and enhanced our AI-powered services. Together, these efforts reinforce and deepen our licensed platform advantages across Hong Kong, Bahrain, and other key global markets.”

“We see ourselves as more than a technology company — we are a trusted bridge connecting traditional finance and the decentralized economy. As global regulatory frameworks continue to mature and institutional adoption accelerates, we remain steadfast in our commitment to compliance, transparency, and responsible innovation. Our goal is to deliver sustainable, long-term value for our clients, partners, and shareholders — and help to power the future of finance.”

About SOLOWIN HOLDINGS

SOLOWIN HOLDINGS (NASDAQ: AXG) is a leading global regulated fintech company. Established in 2016, AXG combines blockchain and artificial intelligence technologies to operate a fully compliant dual-token digital economy super platform.

Guided by the mission “Mobilizing Tokens 24/7,” the Company focuses on tokenization and operates two core business pillars: Digital Asset Tokens and AI Tokens. Its offerings span stablecoin issuance and payments, asset tokenization, securities trading and asset management, as well as AI-powered services including cloud infrastructure, Know-Your-Agent verification, and token router.

Through its integrated ecosystem, including AXCOIN, AXONE, FERION, SOLOMON, SCION, and KOVAR, AXG empowers global institutions and investors to capitalize on the rapid growth of the dual-token economy.

For more information, visit the Company’s website at https://www.alloyx.com or Investor Relations webpage at https://ir.alloyx.com. 

Forward-Looking Statements

Certain statements in this announcement are 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. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company has attempted to identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) including the “Risk Factors” section of the Company’s most recent Annual Report on Form 20-F as well as in its other reports filed or furnished from time to time with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For investor and media inquiries please contact:

SOLOWIN HOLDINGS
Investor Relations Department
Email: ir@solowin.io

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

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SOURCE SOLOWIN HOLDINGS

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Chemours Announces Dates for First Quarter 2026 Earnings Release and Webcast Conference Call

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17 minutes ago

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April 21, 2026

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WILMINGTON, Del., April 21, 2026 /PRNewswire/ — The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that the Company expects to issue its first quarter 2026 financial results after market on Tuesday, May 5, 2026.

The Company expects to hold its conference call to discuss its first quarter 2026 financial results at 8:00 a.m. Eastern Time on Wednesday, May 6, 2026. The call is open to the public and can be accessed via the webcast information below. The webcast and materials can be accessed by visiting the “Events and Presentations” section of the Investor Relations section of Chemours’ website at investors.chemours.com.

Conference Call: Please visit investors.chemours.com for a link to the live webcast and to view the accompanying slides.

Replay: A webcast replay will be available at investors.chemours.com.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 5,700 employees and 28 manufacturing sites and serves approximately 2,400 customers in approximately 110 countries. For more information, visit chemours.com or follow us on LinkedIn. 

CONTACTS:

INVESTORS
Brandon Ontjes
Vice President, Head of Strategy & Investor Relations
+1.302.773.3300
investor@chemours.com

NEWS MEDIA
Cassie Olszewski
Media Relations & Reputation Leader
+1.302.219.7140
media@chemours.com  

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SOURCE The Chemours Company

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