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CleanSpark Reports Record-Breaking FY 2024 Results: Outpacing Halving and Difficulty

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2 years ago

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Revenue grows 125% year over year 

Current hashrate surpasses 33.5 EH/s on track for 37 EH/s

LAS VEGAS, Dec. 2, 2024 /PRNewswire/ — CleanSpark, Inc. (Nasdaq: CLSK) (the “Company”), America’s Bitcoin Miner®, today reported financial results for the fiscal year ended September 30, 2024.

“Our performance this year reflects a sustained growth trajectory, solidifying our position as one of the top Bitcoin miners in the world, as we move into an anticipated new bull market,” said CleanSpark CEO Zach Bradford. “Reflecting on the past year, our results in FY 2024 and the positioning of the company going into 2025 demonstrated the wisdom of our counter-cyclical growth and capital allocation strategy. We produce durable, high performing growth and have been since our earliest days in Bitcoin mining,” Bradford said. “CleanSpark has prioritized owned infrastructure as its core foundation, putting us in the best position to optimize our portfolio of data centers to drive ROI to our shareholders as we continue to rapidly deploy additional hashrate on our path to 37 EH by year-end and 50 EH and beyond in 2025.”  

“We anticipated that there would be prime opportunities for M&A paired with organic growth, and over the past year we capitalized by adding 423 MWs to our operating portfolio bringing us to 726 MW, as of today. As we continue focusing on scale in FY 2025 and beyond, we will develop the remaining hundreds of MW in the near-term pipeline while always staying opportunistic,” said Bradford.

“The team produced our strongest year of financial performance to date, solidifying a track record of effective execution and keeping commitments to shareholders. This fiscal year included the fourth halving event in Bitcoin‘s history, and our organizational commitment to operational excellence has allowed us to weather it more successfully than many of our industry peers,” said CleanSpark CFO Gary Vecchiarelli. “Even with the halving event impacting block rewards and a significant increase in difficulty, our production outpaced both, yielding approximately 7,100 BTC thanks to our growth in hashrate and the efficiency improvements to our fleet.

“CleanSpark’s financial strength continued to grow in fiscal 2024,” said Vecchiarelli. “Heading into 2025, we have significant scale and size, a healthy balance sheet, industry leading operations and a strong liquidity position, and we are well positioned to pursue diverse capital raising strategies,” Vecchiarelli said.

Financial Highlights: Full Fiscal Year 2024

Financial Results for the Fiscal Year Ended September 30, 2024.

The Company’s annual revenues were $378.9 million, an increase of $210.5 million, or 125%, from $168.4 million for the prior fiscal year.Net loss for the year ended September 30, 2024, was ($145.8) million or ($0.69) basic loss per share compared to a net loss of ($138.1) million or ($1.30) loss per share for the prior fiscal year.Adjusted EBITDA was $245.8 million, an increase of $220.8 million from $25.0 million for the prior fiscal year. 1

Balance Sheet Highlights as of September 30, 2024

Assets

Cash: $122.2 millionBitcoin: $509.5 million (includes bitcoin receivable of $77.8 million posted as collateral), based upon 8,049 bitcoin at a price of $63,301 at September 30, 2024Total Current Assets: $705.4 millionTotal Mining Assets (including prepaid deposits & deployed miners): $902.0 millionTotal Assets: $2.0 billion

Liabilities and Stockholders’ Equity

Current Liabilities: $187.9 millionTotal Liabilities: $201.8 millionTotal Stockholders’ Equity: $1.8 billion

The Company had working capital of $517.5 million and $66.0 million of loans payable as of September 30, 2024.

1 See “Non-GAAP Measure” and the related reconciliation below

Investor Conference Call and Webcast

The Company will hold its fiscal year 2024 earnings presentation and business update for investors and analysts today, December 2, 2024, at 1:30 p.m. PT / 4:30 p.m. ET.

Webcast URL: https://investors.cleanspark.com   

The webcast will be accessible for at least 30 days on the Company’s website and a transcript of the call will be available on the Company’s website following the call.

About CleanSpark

CleanSpark (Nasdaq: CLSK), America’s Bitcoin Miner®, is a market-leading, pure play bitcoin miner with a proven track record of success. We own and operate a portfolio of mining facilities across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our mining facilities to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by securing the most important finite, global asset – Bitcoin – positions us to prosper in an ever-changing world.

 Visit our website at www.cleanspark.com. 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this press release, forward-looking statements include, but may not be limited to, statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the risk that the electrical power available to our facilities does not increase as expected; the success of its digital currency mining activities; the volatile and unpredictable cycles in the emerging and evolving industries in which we operate, including the volatility of BTC prices; increasing difficulty rates for bitcoin mining; bitcoin halving; new or additional governmental regulation; the anticipated delivery dates of new miners; the Company’s ability to successfully completed acquisitions, including integration risks relating to completed and potential acquisitions, the ability to successfully deploy new miners; the dependency on utility rate structures and government incentive programs; dependency on third-party power providers for expansion efforts; the expectations of future revenue growth may not be realized; and other risks described in the Company’s prior press releases and in its filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in those filings. Forward-looking statements contained herein are made only as to the date of this press release, and we assume no obligation to update or revise any forward-looking statements as a result of any new information, changed circumstances or future events or otherwise, except as required by applicable law.

Non-GAAP Measure

The Company presents adjusted EBITDA, which is not a measurement of financial performance under generally accepted accounting principles in the United States(“GAAP”). The Company’s non-GAAP “Adjusted EBITDA” excludes (i) impacts of interest, taxes, and depreciation; (ii) the Company’s share-based compensation expense, unrealized gains/losses on securities, and, changes in the fair value of contingent consideration with respect to previously completed acquisitions,  all of which are non-cash items that the Company believes are not reflective of the Company’s general business performance, and for which the accounting requires management judgment, and the resulting expenses could vary significantly in comparison to other companies; (iii) non-cash impairment losses related to long-lived assets (including goodwill); (iv) realized gains and losses on sales of equity securities, the amounts of which are directly related to the unrealized gains and losses that are also excluded; (v) legal fees related to litigation and various transactions, which fees management does not believe are reflective of the Company’s ongoing operating activities; (vi) gains and losses on disposal of assets, the majority of which are related to obsolete or unrepairable machines that are no longer deployed;  (vii) gains and losses related to discontinued operations that would not be applicable to the Company’s future business activities; and (viii) severance expenses. The Company previously excluded non-cash impairment losses related to digital assets and realized gains and losses on sales of bitcoin from its calculation of adjusted EBITDA, but has determined such items are part of the Company’s normal ongoing operations and will no longer be excluding them from its calculation of adjusted EBITDA.

Management believes that providing this non-GAAP financial measure that excludes these items allows for meaningful comparisons between the Company’s core business operating results and those of other companies, and provides the Company with an important tool for financial and operational decision making and for evaluating its own core business operating results over different periods of time. In addition to management’s internal use of non-GAAP adjusted EBITDA, management believes that adjusted EBITDA is also useful to investors and analysts in comparing the Company’s performance across reporting periods on a consistent basis.  Management believes the foregoing to be the case even though some of the excluded items involve cash outlays and some of them recur on a regular basis (although management does not believe any of such items are normal operating expenses necessary to generate the Company’s bitcoin related revenues).  For example, the Company expects that share-based compensation expense, which is excluded from adjusted EBITDA, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers, and directors. Additionally, management does not consider any of the excluded items to be expenses necessary to generate the Company’s bitcoin related revenue.

The Company’s adjusted EBITDA measure may not be directly comparable to similar measures  provided by other companies in our industry, as other companies in the Company’s industry may calculate non-GAAP financial results differently. The Company’s adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to operating (loss) income or any other measure of performance derived in accordance with GAAP. Although management utilizes internally and presents adjusted EBITDA, the Company only utilizes that measure supplementally and does not consider it to be a substitute for, or superior to, the information provided by GAAP financial results.

Accordingly, adjusted EBITDA is not meant to be considered in isolation of, and should be read in conjunction with, the information contained in the Company’s consolidated financial statements, which have been prepared in accordance with GAAP.

CLEANSPARK, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except par value and share amounts)

 

September 30,
2024

September 30,
2023

ASSETS

Current assets

Cash and cash equivalents

$

121,222

$

29,215

Restricted cash

3,056

—

Receivable for equity offerings

—

9,590

Prepaid expense and other current assets

7,995

3,258

Bitcoin (See Note 2 and Note 6)

431,661

56,241

Receivable for bitcoin collateral (See Note 2 and Note 12)

77,827

—

Note receivable from GRIID (see Note 7)

60,919

—

Derivative investments

1,832

2,697

Investment in debt security, AFS, at fair value

918

726

Current assets held for sale

—

445

Total current assets

$

705,430

$

102,172

Property and equipment, net

$

869,693

$

564,395

Operating lease right of use asset

3,263

688

Intangible assets, net

3,040

4,603

Deposits on miners and mining equipment

359,862

75,959

Other long-term asset

13,331

5,718

Goodwill

8,043

8,043

Total assets

$

1,962,662

$

761,578

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable

$

82,992

$

39,900

Accrued liabilities

43,874

25,677

Other current liabilities

2,240

311

Current portion of loans payable

58,781

6,992

Current liabilities held for sale

—

1,175

Total current liabilities

$

187,887

$

74,055

Long-term liabilities

Operating lease liability, net of current portion

997

519

Finance lease liability, net of current portion

—

9

Loans payable, net of current portion

7,176

8,911

Deferred income taxes

5,761

2,416

Total liabilities

$

201,821

$

85,910

Commitments and contingencies – Note 18

 

CLEANSPARK, INC.

CONSOLIDATED BALANCE SHEETS (continued)

(in thousands, except par value and share amounts)

 

September 30,
2024

September 30,
2023

Stockholders’ equity

Preferred stock; $0.001 par value; 10,000,000 shares authorized;
    Series A shares; 2,000,000 authorized; 1,750,000 issued and outstanding
        (liquidation preference $0.02 per share)
    Series X shares; 1,000,000 and 0 authorized, issued and outstanding,
        respectively

3

2

Common stock; $0.001 par value; 300,000,000 shares authorized; 270,897,784
and 160,184,921 shares issued and outstanding, respectively

271

160

Additional paid-in capital

2,239,367

1,009,482

Accumulated other comprehensive income

418

226

Accumulated deficit

(479,218)

(334,202)

Total stockholders’ equity

1,760,841

675,668

Total liabilities and stockholders’ equity

$

1,962,662

$

761,578

 

The accompanying notes are an integral part of these consolidated financial statements.

 

CLEANSPARK, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

 (in thousands, except per share and share amounts)

 

For the year ended

September 30,
2024

September 30,
2023

September 30,
2022

Revenues, net

Bitcoin mining revenue, net

$

378,968

$

168,121

$

131,000

Other services revenue

—

287

525

Total revenues, net

$

378,968

$

168,408

$

131,525

Costs and expenses

Cost of revenues (exclusive of depreciation and amortization shown below)

165,516

93,580

41,234

Professional fees

13,806

10,869

6,469

Payroll expenses

74,095

45,714

40,920

General and administrative expenses

30,185

20,823

10,423

Loss on disposal of assets

5,466

1,931

(643)

Gain on fair value of bitcoin, net (see Note 2 and Note 6)

(113,423)

—

—

Other impairment expense (related to bitcoin)

—

7,163

12,210

Impairment expense – fixed assets

197,041

—

—

Impairment expense – other

716

—

250

Impairment expense – goodwill

—

—

12,048

Realized gain on sale of bitcoin

—

(1,357)

(2,567)

Depreciation and amortization

154,609

120,728

49,045

Total costs and expenses

$

528,011

$

299,451

$

169,389

Loss from operations

$

(149,043)

$

(131,043)

$

(37,864)

Other income (expense)

Other income

—

11

308

Change in fair value of contingent consideration

—

2,484

306

Recognized gain on bitcoin collateral returned

91

—

—

Change in fair value of bitcoin collateral

1,384

—

—

Realized gain on sale of equity security

—

—

1

Unrealized loss on equity security

—

—

(2)

Unrealized loss on derivative security

(965)

(259)

(1,950)

Interest income

8,555

481

190

Interest expense

(2,455)

(2,977)

(1,078)

Total other income (expense)

$

6,610

$

(260)

$

(2,225)

Loss before income tax expense

(142,433)

(131,303)

(40,089)

Income tax expense

3,344

2,416

—

Loss from continuing operations

$

(145,777)

$

(133,719)

$

(40,089)

Discontinued operations

Loss from discontinued operations

$

—

$

(4,429)

$

(17,237)

Income tax expense

—

—

—

Loss on discontinued operations

$

—

$

(4,429)

$

(17,237)

Net loss

$

(145,777)

$

(138,148)

$

(57,326)

Preferred stock dividends

3,422

—

336

Net loss attributable to common shareholders

$

(149,199)

$

(138,148)

$

(57,662)

Other comprehensive income, net of tax

192

116

115

Total comprehensive loss attributable to common shareholders

$

(149,007)

$

(138,032)

$

(57,547)

 

CLEANSPARK, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (continued)

 (in thousands, except per share and share amounts)

 

For the year ended

September 30,
2024

September 30,
2023

September 30,
2022

Loss from continuing operations per common share – basic

$

(0.69)

$

(1.30)

$

(0.95)

Weighted average common shares outstanding – basic

216,860,819

102,707,509

42,614,197

Loss from continuing operations per common share – diluted

$

(0.69)

$

(1.30)

$

(0.95)

Weighted average common shares outstanding – diluted

216,860,819

102,707,509

42,614,197

Loss on discontinued operations per common share – basic

$

–

$

(0.04)

$

(0.40)

Weighted average common shares outstanding – basic

216,860,819

102,707,509

42,614,197

Loss on discontinued operations per common share – diluted

$

–

$

(0.04)

$

(0.40)

Weighted average common shares outstanding – diluted

216,860,819

102,707,509

42,614,197

 

CLEANSPARK, INC.

RECONCILIATION OF ADJUSTED EBITDA

 (Unaudited, in thousands)

For the Year Ended September 30,

2024

2023

Net income (loss)

$

(145,777)

$

(138,148)

Adjustments:

Loss on discontinued operations

—

4,429

Impairment expense – fixed assets

197,041

—

Impairment expense – other

716

—

Depreciation and amortization

154,609

120,728

Share-based compensation expense

29,555

24,142

Other income

—

(11)

Change in fair value of contingent consideration

—

(2,484)

Unrealized loss (gain) of derivative security

965

259

Interest income

(8,555)

(481)

Interest expense

2,455

2,977

  Loss on disposal of assets

5,466

1,931

  Income tax expense

3,344

2,416

  Fees related to financing & business development transactions

4,059

697

  Litigation & settlement related expenses

1,970

7,872

  Severance and other expenses

—

701

    Total Adjusted EBITDA

$

245,848

$

25,028

Investor Relations Contact 
Brittany Moore
702-989-7693
ir@cleanspark.com 

Media Contact
Eleni Stylianou
702-989-7694
pr@cleanspark.com

 

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SOURCE CleanSpark, Inc.

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Sophia Space and MIT Lincoln Laboratory Announce Research Collaboration on Space-Based Weather Modeling

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5 minutes ago

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October 20, 2026

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CRADA and related SpaceWERX Phase I research will explore space-based computing approaches for weather-modeling applications

PASADENA, Calif., Oct. 20, 2026 /PRNewswire/ — Sophia Space today announced a new Cooperative Research and Development Agreement (CRADA) with MIT Lincoln Laboratory to investigate how space-based computing approaches could support high-resolution weather-modeling research for remote operating environments.

The collaboration combines MIT Lincoln Laboratory’s weather-modeling research expertise with Sophia Space’s edge-compute concepts. The effort will explore whether distributed computing can support more timely environmental information for planning and decision-support applications.

Under the agreement, MIT Lincoln Laboratory will contribute weather-modeling research expertise, including the identification of modeling configurations, parameters, and data sources for evaluation. The team will develop representative test data and assess weather-model performace against defined research metrics using frameworks compatible with Sophia Space’s initial hardware configurations.

Sophia Space will provide the AI-inference compute environment for evaluating representative weather-model workloads, including terrestrial and potential space-based computing configurations. The organizations will explore high-level system and service architectures that may inform future research into space-based computing applications.

Sophia Space and MIT Lincoln Laboratory are also pursuing related work under Department of the Air Force STTR Topic SF25D-T1201 through the SpaceWERX Futures Series: Adaptive and Intelligent Space Challenge. The related effort examines technologies relevant to autonomous, resilient, and networked space-system operations.

“This partnership reflects our conviction that space-based computing infrastructure should be developed through rigorous collaboration between commercial innovators and world-class research institutions,” said Rob DeMillo, Co-founder and CEO of Sophia Space. “MIT Lincoln Laboratory brings unmatched weather sensing, forecasting and decision-support research expertise, and together we will explore the potential application of space-based computing to weather-modeling research.”

The collaboration aligns with Sophia Space’s research interests in edge-compute architectures, distributed processing, and sensor fusion integration for environments.

“Timely weather information is critical for operations in remote and contested environments,” said Dr. Timothy Bonin, Assistant Group Leader of the Air Traffic Control & Weather Systems Group at MIT Lincoln Laboratory. “This collaboration allows us to explore how space-based computing can help process satellite observations and other environmental data closer to the point of collection, while assessing potential impacts on communications demands and information-delivery timelines.”

About Sophia Space Inc.
Sophia Space is building the future of orbital computing and in-space data centers. Its modular TILE (Thermal-Integrated LEO Edge) technology enables passive computing alongside in-situ data processing, AI acceleration, and edge computing for satellites, defense systems, and commercial space stations—dramatically reducing latency and delivering actionable insights where and when they are needed. Learn more at www.sophia.space.

About MIT Lincoln Laboratory
MIT Lincoln Laboratory is a federally funded research and development (R&D) center chartered to apply advanced technology to problems of national security. Since 1951, the Laboratory has developed technology that has transformed the activities of the defense, scientific, and industry communities. Its mission focuses on long-term technology development as well as rapid system prototyping and demonstration. Through several mechanisms, it facilitates partnerships with companies to advance R&D and increase U.S. technical competitiveness. Learn more at www.ll.mit.edu.

 

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SOURCE Sophia Space

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Oracle and AstraZeneca Partner to Advance AI-enabled Healthcare Innovation

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October 20, 2026

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Collaboration to connect AstraZeneca’s scientific and therapeutic expertise with Oracle’s real-world data, cloud, AI, and clinical capabilities to accelerate clinical research and bring evidence-driven insights into care workflows to help improve patient care

AUSTIN, Texas and ABU DHABI, UAE, Oct. 20, 2026 /PRNewswire/ — Oracle today announced an agreement with AstraZeneca to explore how AI and real-world data can help clinicians identify eligible patients for clinical trials, accelerate evidence generation, and bring relevant research insights into everyday care. The collaboration is expected to combine AstraZeneca’s scientific and therapeutic expertise with Oracle’s health data, cloud, AI, analytics, and clinical workflow capabilities.

Through a non-binding agreement, the companies plan to explore selected use cases that could improve clinical-trial efficiency and success by leveraging modern applications and AI to help care teams identify eligible patients earlier and easier, resulting in greater access to clinical trials for patients in need and helping to overcome one of the largest obstacles in clinical trials – patient recruitment. Initial disease areas to be explored could include oncology; cardiovascular, renal and metabolic diseases; respiratory and immunology; and rare diseases.

Pascal Soriot, Chief Executive Officer, AstraZeneca said: “This unique collaboration brings leaders in healthcare and AI together at a global scale to accelerate the journey from the discovery of medicine to patient care. Combining AstraZeneca’s world class science with Oracle’s deep data and technology expertise, we can help clinicians identify patients sooner, optimize clinical trials, and generate evidence continuously across the lifecycle of a medicine.”

“Some of the most important opportunities for AI are in healthcare, where better use of data can help turn scientific innovation into better outcomes for patients,” noted Mike Sicilia, chief executive officer, Oracle. “By bringing AstraZeneca’s scientific expertise together with Oracle’s data, cloud, AI, and healthcare capabilities, we have an opportunity to help accelerate research, connect more patients to clinical trials, and ultimately bring relevant insights into care faster.”

Connecting Research and Care

Anne-Claire Gerbaldi, Chief Digital, Data and AI Officer, AstraZeneca, added: “Too many patients are diagnosed late or face a long journey to get the care they need. To build the next decade of medicine, we aim to harness AI to connect learnings across science, clinical trials, and everyday care, generating insights that continuously strengthen research, accelerate innovation, and enhance patient outcomes. Bringing together the unique capabilities of Oracle and AstraZeneca, we believe we can support smarter clinical trials, strengthen safety monitoring, and help ensure patients are diagnosed sooner and receive the right care.”

Seema Verma, executive vice president and general manager, Oracle Health and Life Sciences, said: “Healthcare progress depends on shortening the distance between scientific insight and the decisions clinicians make every day. AstraZeneca brings deep scientific and therapeutic expertise, and Oracle will deliver the secure data, cloud, AI, and clinical workflow capabilities. This collaboration has the potential to help health systems identify eligible patients sooner, broaden access to clinical trials, and generate evidence that supports the next decision, all under the governance of the health systems delivering care.”

AstraZeneca and Oracle intend to explore a continuous learning model in which insights from clinical research and routine care help inform future study design, safety monitoring, and patient care. The companies plan to establish shared governance, reusable technical components, and agreed outcome measures to assess results and determine whether successful approaches could extend across disease areas and geographies.

About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit www.oracle.com.

Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company – ushering in the new era of cloud computing.

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SOURCE Oracle

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Loyyal Unveils Perxi AI Business Suite to Help SMEs Run Their Business on WhatsApp

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October 20, 2026

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Branded AI assistant brings everyday business activities into messaging channels, reducing the need for separate software and specialist teams

DUBAI, UAE, Oct. 20, 2026 /PRNewswire/ — Loyyal today unveiled the Perxi AI Business Suite, enabling small and medium enterprises (SMEs) to manage everyday business activities through WhatsApp. Building on its introduction as a loyalty assistant, Perxi brings commerce, customer engagement and business management into one conversational interface, with capabilities including ordering, customer service and loyalty.

The suite helps SMEs and direct-to-consumer brands manage these activities without purchasing separate ordering systems, customer relationship management software or support tools. Its conversational approach reduces the need to hire specialists or train employees to operate multiple systems.

“Small business owners should be able to focus on growth without assembling a collection of software tools,” said Ashish Kumar Singh, Founder and CEO of Loyyal.

“Perxi brings everyday business capabilities into WhatsApp under each business’s own brand. We want to make these tools affordable and accessible while helping businesses retain greater control over their customer relationships, data and decisions.”

Perxi provides the underlying technology, while each business launches its assistant under its own brand name. Customers engage directly with the business they recognise, rather than entering a separate Perxi marketplace.

Customers can place orders, ask questions, receive assistance and access rewards within a familiar conversation. There is no additional branded application to install or separate login to remember. This approach is designed to appeal to younger consumers accustomed to discovering and interacting with brands through mobile messaging.

Beyond WhatsApp, Perxi can be deployed across messaging channels suited to each business and market, including Instagram, WeChat and KakaoTalk.
Multilingual capabilities enable businesses to serve customers in their preferred languages, supporting brands operating beyond English and those engaging diverse communities.

As conversational commerce and AI assistants become more prominent, SMEs face growing expectations for convenient, responsive interactions. Bringing business services into messaging channels offers a way to meet those expectations while building direct customer relationships.

Marketplaces and aggregators offer a fast route to market, but access to customer information and engagement opportunities varies. Perxi helps businesses establish a direct channel and gain insights from their own customer conversations and transactions.

These insights can inform service improvements, personalised engagement and retention, while reducing dependence on intermediaries for customer access.

Pricing is designed to remain simple and affordable. Loyyal plans further services under the same umbrella.

Perxi will return to exhibit at Dubai AI Festival on October 26–27, 2026, at Dubai World Trade Centre.

About Loyyal

Loyyal is a US-born, UAE-based enterprise technology company helping businesses turn loyalty and customer engagement into growth and revenue. Combining patented blockchain technology with AI, its modular portfolio spans loyalty management, rewards, points exchange, offers, gift cards, gamification and conversational business assistants.

Media Contact

Marketingdepartment@loyyal.com

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