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Lumine Group Inc. Announces Results for the Three and Six Months Ended June 30, 2024

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2 years ago

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TORONTO, Aug. 7, 2024 /CNW/ – Lumine Group Inc. (“Lumine Group” or “the Company”) (TSXV: LMN)  announces financial results for the three and six months ended June 30, 2024. All amounts referred to in this press release are in US dollars unless otherwise stated.

The following press release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2024, and management’s discussion and analysis (“MD&A”) for the three and six months ended June 30, 2024, which can be found on SEDAR+ at www.sedarplus.ca. Additional information about Lumine Group is also available on SEDAR+ and on Lumine Group’s website www.luminegroup.com.

Q2 2024 Headlines:

Revenue grew 25% to $162.8 million compared to $129.9 million in the same quarter prior year (including -12% organic growth after adjusting for foreign exchange impacts).The Company generated operating income of $36.6 million during the quarter, a 1% increase from $36.4 million in the same quarter prior year.The Company generated a net loss of $2.2 million during the quarter, from net loss of $489.1 million in the same quarter prior year.Cash flows from operations (“CFO”) decreased $12.4 million to $10.0 million compared to $22.4 million in Q2 2023, representing a decrease of 55%.Free cash flow available to shareholders (“FCFA2S”) decreased $14.5 million to $2.8 million compared to $17.3 million in Q2 2023, representing a decrease of 84%.

Year-to-Date Q2 2024 Headlines:

Revenue grew 35% to $303.9 million compared to $225.3 million in the same six-month period prior year (including -8% organic growth after adjusting for foreign exchange impacts).The Company generated operating income of $81.1 million in the six-month period ended June 30, 2024, an increase of 40% from $58.0 million in the same period prior year.An expense of $317.4 million was incurred in the six-month period ended June 30, 2024 up to the Mandatory Conversion Date, $298.7 million is related to the mark to market adjustments on the fair value of the Preferred and Special Securities and $18.7 million is related to the dividend payable. Fair value of the preferred and special securities is primarily dependent on the price movement of the Company’s Subordinate Voting Shares.The Company generated a net loss of $306.6 million during the six-month period ended June 30, 2024, from net loss of $1,140.7 million in the same period prior year. The net loss is primarily related to the redeemable preferred and special securities expense in 2023.CFO increased $7.7 million to $45.0 million compared to $37.4 million in the six-month period ended June 30, 2023, representing an increase of 21%.FCFA2S increased $2.6 million to $31.5 million compared to $29.0 million in the six-month period ended June 30, 2023, representing an increase of 9%.

Total revenue for the three months ended June 30, 2024 is $162.8 million, an increase of 25%, or $32.9 million, compared to $129.9 million for the comparable period in 2023. For the six months ended June 30, 2024, total revenue was $303.9 million, an increase of 35%, or $78.7 million, compared to $225.3 million for the comparable period in 2023. The increase for the three and six months compared to the same period in the prior year is attributable to revenues from new acquisitions. The Company experienced organic growth of -12% and -7%, respectively for the three and six months ended June 30, 2024, or -12% and -8% after adjusting for the impact of changes in the valuation of the US dollar against most major currencies in which the Company transacts business. For acquired companies, organic growth is calculated as the difference between actual revenues achieved by each business in the financial period following acquisition, compared to the estimated revenues they achieved in the corresponding financial period preceding the date of acquisition by the Company. Organic growth is not a standardized financial measure and might not be comparable to measures disclosed by other issuers.

Operating income for the three months ended June 30, 2024 was $36.6 million, an increase of 1%, or $0.2 million, compared to $36.4 million for the same period in 2023. Operating income for the six months ended June 30, 2024 was $81.1 million, an increase of 40%, or $23.0 million, compared to $58.0 million for the same period in 2023. The increase for the three and six month periods is primarily attributable to growth from 2023 acquisitions partially offset by current period losses from 2024 acquisitions. Operating income is not a standardized financial measure and might not be comparable to measures disclosed by other issuers. See “Non-IFRS Measures”.

Net loss for the three months ended June 30, 2024 was $2.2 million compared to net loss of $489.1 million for the same period in 2023. Net loss for the six months ended June 30, 2024 was $306.6 million compared to net loss of $1,140.7 million for the same period in 2023. The decrease in net loss for the three and six month periods is primarily attributable to the Mandatory Conversion of Preferred and Special Securities on March 25, 2024 such that no further preferred and special securities expense was booked in the current quarter.

For the three months ended June 30, 2024, CFO decreased $12.4 million to $10.0 million compared to $22.4 million for the same period in 2023 representing a decrease of 55%. The decrease in CFO is primarily attributable to current period losses from 2024 acquisitions.

For the six months ended June 30, 2024, CFO increased $7.7 million to $45.0 million compared to $37.4 million for the same period in 2023 representing an increase of 21%. The primary reason for the increase is that CFO includes the impact of changes in non-cash operating assets and liabilities exclusive of effects of business combinations or, changes in non-cash operating working capital (“NCOWC”) which improved during the six months ended June 30, 2024 compared to the same period prior year.

For the three months ended June 30, 2024, FCFA2S decreased $14.5 million, or 84%, to $2.8 million compared to $17.3 million for the same period in 2023. The decrease is primarily a result of lower CFO during the period. For the six months ended June 30, 2024, FCFA2S increased $2.6 million, or 9%, to $31.5 million compared to $29.0 million for the same period in 2023. The increase is primarily a result of higher CFO during the period. FCFA2S is not a standardized financial measure and might not be comparable to measures disclosed by other issuers.  See “Non-IFRS Measures”.

Non-IFRS Measures

Operating income (loss) refers to income (loss) before income taxes, amortization of intangible assets, redeemable Preferred and Special Share expense, and finance and other expenses (income). We believe that operating income is useful supplemental information as it provides an indication of the profitability of the Company related to its core operations. Operating income (loss) is not a recognized measure under IFRS and may not be comparable to similar financial measures disclosed by other issuers. Accordingly, readers are cautioned that operating income (loss) should not be construed as an alternative to net income (loss).

The following table reconciles operating income to net income:

Three months ended

June 30,

Six months ended

June 30,

2024

2023

2024

2023

Net income (loss)

(2.2)

(489.1)

(306.6)

(1,140.7)

Adjusted for:

Amortization of intangible assets

29.2

21.5

52.0

36.3

Redeemable preferred and special securities expense

–

496.6

317.4

1,151.2

Finance and other expense (income)

5.7

4.3

10.0

6.3

Income tax expense (recovery)

3.9

3.1

8.3

4.9

Operating income (loss)

36.6

36.4

81.1

58.0

Free cash flow available to shareholders ”FCFA2S” refers to net cash flows from operating activities less interest paid on lease obligations, interest paid on bank debt, transaction costs on bank debt, repayments of lease obligations, dividends paid to redeemable preferred and special securities holders, and property and equipment purchased. The Company believes that FCFA2S is useful supplemental information as it provides an indication of the uncommitted cash flow that is available to shareholders if Lumine Group does not make any acquisitions, or investments, and does not repay any debts. While the Company could use the FCFA2S to pay dividends or repurchase shares, the Company’s objective is to invest all of its FCFA2S in acquisitions which meet the Company’s hurdle rate.

FCFA2S is not a recognized measure under IFRS and may not be comparable to similar financial measures disclosed by other issuers. Accordingly, readers are cautioned that FCFA2S should not be construed as an alternative to net cash flows from operating activities.

The following table reconciles FCFA2S to net cash flows from operating activities:

 Three months ended
June 30,

 Six months ended
June 30,

2024

2023

2024

2023

Net cash flows from operating activities:

10.0

22.4

45.0

37.4

Adjusted for:

Interest paid on lease obligations

(0.1)

(0.2)

(0.3)

(0.3)

Interest paid on other facilities

(5.1)

(3.2)

(7.6)

(3.6)

Credit facility transaction costs

(0.2)

0.0

(1.8)

(1.8)

Payment of lease obligations

(1.5)

(1.5)

(3.0)

(2.4)

Property and equipment purchased

(0.4)

(0.2)

(0.7)

(0.4)

Free cash flow available to shareholders

2.8

17.3

31.5

29.0

Forward Looking Statements

Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Lumine Group or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Lumine Group assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.

About Lumine Group Inc.

Lumine Group acquires, strengthens, and grows, vertical market software businesses in the communications and media industry. Learn more at www.luminegroup.com. 

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

Lumine Group Inc.
Condensed Consolidated Interim Statements of Financial Position
(In thousands of USD.  Due to rounding, numbers presented may not foot.)

Unaudited

June 30, 2024

December 31, 2023

Assets

Current assets:

Cash

$                167,773

$           146,509

Accounts receivable, net

127,329

104,955

Unbilled revenue, net

49,828

39,858

Inventories

561

521

Other assets

46,780

46,377

392,271

338,220

Non-current assets:

Property and equipment

7,138

4,164

Right of use assets

9,060

11,973

Deferred income taxes

6,371

6,197

Other assets

11,518

13,063

Intangible assets and goodwill

845,525

762,665

879,612

798,062

Total assets

$             1,271,883

$        1,136,282

Liabilities and Equity

Current liabilities:

Accounts payable and accrued liabilities

$                100,821

$             97,533

Due to related parties, net

1,529

2,380

Current portion of bank debt

2,166

3,071

Deferred revenue

97,110

91,726

Acquisition holdback payables

318

319

Lease obligations

6,073

6,358

Income taxes payable

11,702

12,436

Preferred and Special Securities

–

4,469,996

219,720

4,683,819

Non-current liabilities:

Deferred income taxes

115,341

124,878

Bank debt

288,818

149,636

Lease obligations

4,079

6,921

Other liabilities

9,684

12,995

417,922

294,430

Total liabilities

637,641

4,978,249

Equity:

Capital stock

490,669

–

Contributed surplus

185,142

(1,015,661)

Accumulated other comprehensive income (loss)

(10,896)

(6,296)

Retained earnings (deficit)

(30,673)

(2,820,010)

634,242

(3,841,967)

Subsequent events

Total liabilities and equity

$             1,271,883

$              1,136,282

Lumine Groupe Inc.
Condensed Consolidated Interim Statements of Income (Loss)
(In thousands of USD, except per share amounts. Due to rounding, numbers presented may not foot.)

Unaudited

Three months ended June 30,

Six months ended June 30,

2024

2023

2024

2023

Revenue

License

$         11,687

$            11,094

$         23,407

$           21,743

Professional services

28,909

23,440

53,842

40,267

Hardware and other

2,326

4,728

4,743

9,336

Maintenance and other recurring

119,903

90,623

221,932

153,920

162,825

129,885

303,924

225,266

Expenses

Staff

87,704

71,285

160,733

119,904

Hardware

1,418

3,132

2,938

6,451

Third party license, maintenance and professional services

11,867

8,050

20,406

12,785

Occupancy

975

789

1,871

1,566

Travel, telecommunications, supplies, software and equipment

12,751

5,214

19,508

9,886

Professional fees

5,655

2,919

8,487

10,232

Other, net

3,509

(94)

4,455

2,688

Depreciation

2,337

2,195

4,452

3,705

Amortization of intangible assets

29,211

21,481

52,032

36,317

155,427

114,971

274,882

203,535

Redeemable Preferred and Special Securities expense

–

496,588

317,362

1,151,203

Finance and other expenses (income)

5,698

4,332

9,970

6,257

5,698

500,920

327,332

1,157,460

Income (loss) before income taxes

1,700

(486,006)

(298,290)

(1,135,729)

Current income tax expense (recovery)

9,209

10,649

17,555

18,162

Deferred income tax expense (recovery)

(5,274)

(7,557)

(9,272)

(13,227)

Income tax expense (recovery)

3,935

3,092

8,283

4,935

Net income (loss)

$         (2,235)

$        (489,098)

$     (306,573)

$        (1,140,664)

Weighted average shares outstanding:

Basic

256,620,388

74,008,247

171,366,154

70,914,357

Diluted

256,620,388

253,106,712

254,978,572

236,914,312

Earnings per share:

Basic and diluted

$           (0.01)

$              (6.61)

$           (1.79)

$        (16.09)

Lumine Group Inc.
Condensed Consolidated Interim Statements of Comprehensive Income (Loss)
(In thousands of USD. Due to rounding, numbers presented may not foot.)

Unaudited

Three months ended June 30,

Six months ended June 30,

2024

2023

2024

2023

Net income (loss)

$            (2,235)

$    (489,098)

$        (306,573)

$ (1,140,664)

Items that are or may be reclassified subsequently to net income (loss):

Foreign currency translation differences from foreign operations and other

5,321

(900)

(4,600)

(311)

Other comprehensive (loss) income for the year, net of income tax

5,321

(900)

(4,600)

(311)

Total comprehensive income (loss) for the year

$              3,086

$    (489,998)

$        (311,173)

$ (1,140,975)

Lumine Group Inc.
Condensed Consolidated Interim Statement of Changes in Equity
(In thousands of USD.  Due to rounding, numbers presented may not foot.)

Unaudited

Six months ended June 30, 2024

Capital stock

Contributed
surplus

Accumulated other
comprehensive
(loss) income

Retained
earnings
(deficit)

Total equity

Balance at January 1, 2024

$                –

$     (1,015,661)

$           (6,296)

$   (2,820,010)

$      (3,841,967)

Total comprehensive income (loss) for the period:

Net income (loss)

–

–

–

(306,573)

(306,573)

Other comprehensive income (loss):

Foreign currency translation differences from foreign operations and other

–

–

(4,600)

–

(4,600)

Total other comprehensive income (loss) for the period

–

–

(4,600)

–

(4,600)

Total comprehensive income (loss) for the period

–

–

(4,600)

(306,573)

(311,173)

Mandatory Conversion of Special and Preferred Shares

87,368

–

–

–

87,368

Settlement of Preferred and Special Share Dividends in Subordinate Voting Shares

403,301

1,200,803

–

3,095,910

4,700,014

Balance at June 30, 2024

$   490,669

$            185,142

$      (10,896)

$      (30,673)

$      634,242

Lumine Group Inc.
Condensed Consolidated Interim Statement of Changes in Equity
(In thousands of USD.  Due to rounding, numbers presented may not foot.)

Unaudited

Six months ended June 30, 2023

Capital stock

Contributed
surplus

Accumulated other
comprehensive
(loss) income

Retained
earnings
(deficit)

Total equity

Balance at January 1, 2023

$                –

$          162,692

$           (8,912)

$                   –

$         153,780

Total comprehensive income (loss) for the period:

Net income (loss)

–

–

–

(1,140,664)

(1,140,664)

Other comprehensive income (loss):

Foreign currency translation differences from foreign operations and other

–

–

(311)

–

(311)

Total other comprehensive income (loss) for the period

–

–

(311)

–

(311)

Total comprehensive income (loss) for the period

–

–

(311)

(1,140,664)

(1,140,975)

Transactions with Parent, recorded directly in equity

Capital contributions by Parent

–

22,451

–

–

22,451

Amalgamation with Lumine Group (Holdings) Inc.

–

(1,200,803)

–

–

(1,200,803)

Special Share conversion

–

–

–

4,040

4,040

Balance at June 30, 2023

$             –

$  (1,015,660)

$        (9,223)

$ (1,136,624)

$ (2,161,507)

Lumine Group Inc.
Condensed Consolidated Interim Statements of Cash Flows
(In thousands of USD.  Due to rounding, numbers presented may not foot.)

Unaudited

Three months ended June 30,

Six months ended June 30,

2024

2023

2024

2023

Cash flows from (used in) operating activities:

Net income (loss)

$     (2,235)

$  (489,098)

$  (306,573)

$  (1,140,664)

Adjustments for:

Depreciation

2,337

2,195

4,452

3,705

Amortization of intangible assets

29,211

21,481

52,032

36,317

Contingent consideration adjustments

915

(3,149)

958

(2,478)

Preferred and Special Securities expense (income)

–

496,588

317,362

1,151,203

Finance and other expenses (income)

5,698

4,332

9,970

6,257

Income tax expense (recovery)

3,935

3,092

8,283

4,935

Change in non-cash operating assets and liabilities exclusive of effects of business combinations

(26,134)

(6,355)

(34,127)

(10,388)

Income taxes (paid) received

(3,680)

(6,679)

(7,317)

(11,512)

Net cash flows from (used in) operating activities

10,047

22,407

45,040

37,375

Cash flows from (used in) financing activities:

Interest paid on lease obligations

(130)

(167)

(284)

(259)

Interest paid on bank debt

(5,130)

(3,249)

(7,602)

(3,591)

Cash transferred from (to) Parent

118

(7,165)

(1,990)

(11,835)

Proceeds from issuance of bank debt

50,500

–

140,500

175,000

Repayments of bank debt

(244)

(410)

(488)

(654)

Transaction costs on bank debt

(194)

–

(1,849)

(1,771)

Payments of lease obligations

(1,468)

(1,525)

(3,034)

(2,365)

Issuance of Preferred Shares to Parent

–

–

–

181,484

Dividends paid

–

(12)

–

(12)

Net cash flows from (used in) in financing activities

43,452

(12,528)

125,253

335,997

Cash flows from (used in) investing activities:

Acquisition of businesses

(144,325)

–

(144,325)

(314,760)

Cash obtained with acquired businesses

–

–

–

33,965

Post-acquisition settlement payments, net of receipts

–

(2,307)

(685)

(2,669)

Property and equipment purchased

(363)

(180)

(724)

(421)

Other investing activities

(271)

(657)

(265)

(657)

Net cash flows from (used in) investing activities

(144,959)

(3,143)

(145,999)

(284,542)

Effect of foreign currency on cash and cash equivalents

(554)

(314)

(3,030)

(12)

Increase (decrease) in cash

(92,014)

6,422

21,264

88,818

Cash, beginning of period

259,787

149,481

146,509

67,085

Cash, end of period

$   167,773

$    155,903

$   167,773

$         155,903

SOURCE Lumine Group Inc

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Technology

ADX welcomes Morgan Stanley as the first international investment bank Remote Trading Member, expanding global access to Abu Dhabi’s capital markets

Published

12 hours ago

on

May 5, 2026

By

ABU DHABI, UAE, May 5, 2026 /PRNewswire/ — The Abu Dhabi Securities Exchange (ADX) Group today announced that Morgan Stanley, a leading investment bank and financial services company, has joined the ADX as its first international investment bank Remote Trading Member — enabling Morgan Stanley’s clients to access the ADX directly.

This milestone strengthens ADX’s global connectivity and supports growing international institutional demand for exposure to UAE markets. It also reinforces its position as one of the world’s fastest-growing exchanges by market capitalization, while highlighting the market’s continued progress in depth, liquidity, and inclusion in major global indices.

Remote membership enables Morgan Stanley to provide its clients with direct market access to the ADX, with trading conducted via the firm’s global trading platform. The ADX continues to play a pivotal role in advancing Abu Dhabi’s long-term economic ambitions, as a mechanism for a diversified, innovation-led, knowledge-based economy.

Morgan Stanley’s direct trading access to ADX reflects the strength of Abu Dhabi’s investment proposition and the continued institutionalization of UAE capital markets. Morgan Stanley’s membership will enhance execution quality, optimize order routing, and provide greater control across the end-to-end trade lifecycle, delivering an advanced trading experience for global investors.

The structure follows a proven international access model used by Morgan Stanley and is designed to meet growing client demand for efficient, transparent, and seamless access to ADX-listed opportunities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX) Group, said: “This marks a significant step in advancing our ambition to be a leading financial marketplace that drives opportunity and sustainable economic growth. This momentum is reflected in the strong foreign investor participation, with trading value exceeding 85 billion dirhams in the first quarter of 2026 up by 22% year on year. This performance underscores the growing depth and global relevance of our market, while reinforcing our commitment to expanding international access, strengthening cross-border connectivity, and building a world-class market infrastructure that attracts global capital, supports a diverse range of issuers and contributes to Abu Dhabi’s long-term economic prosperity.”

Patrick Delivanis, Regional Co-Head of MENA at Morgan Stanley, said: “Becoming a Remote Trading Member of ADX reflects our focus on providing clients with efficient, seamless access to Abu Dhabi’s capital markets through our market–leading trading platform. We see continued momentum in the institutionalization and international participation of UAE markets, and we’re pleased to support that evolution by enabling international investors to access opportunities in MENA with direct connectivity to local markets, alongside greater transparency and control across the trading lifecycle.”

Morgan Stanley’s participation aligns with ADX’s strategy to strengthen international connectivity, with remote memberships selectively offered to global firms to attract high-quality cross-border liquidity. The announcement builds on the ADX’s expansion momentum: in 2025, foreign investment rose by nearly 14% and institutional trading increased by 10% year on year. Subject to final operational readiness, Morgan Stanley expects to begin trading as a remote member in the coming weeks.

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Abu Dhabi Securities Exchange (ADX)
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae

 

 

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SOURCE Abu Dhabi Securities Exchange (ADX)

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Geotab integrates Polestar vehicles into its OEM telematics network

Published

12 hours ago

on

May 5, 2026

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Fleet operators across North America, Europe, and APAC can now access Polestar vehicle data directly in MyGeotab — no aftermarket hardware required.

LONDON, UK, May 5, 2026 /PRNewswire/ — Geotab, a global leader in connected vehicle and asset management solutions, today announced the integration of Polestar vehicles into its OEM telematics network, giving commercial fleet operators seamless access to Polestar data within MyGeotab from day one — with no aftermarket hardware installation required. The integration is available globally across North America, Europe, and Asia Pacific, supporting all Polestar models.

Developed in collaboration with Geotab, among other telematics service providers, Polestar Fleet Telematics integrates directly into MyGeotab. The Geotab integration enables fleet managers to manage Polestar vehicles alongside all other makes and models on a single unified platform — without fitting additional devices.

Connected vehicle data where it matters most

Through Polestar Fleet Telematics, fleet operators gain near-real-time access to a comprehensive dataset — covering EV battery and charging status, location, tyre information, vehicle security, maintenance alerts, and climate data — flowing directly from Polestar’s connected vehicle architecture into MyGeotab, with no physical installation required.

This breadth of data enables fleet managers to move from reactive to proactive operations — scheduling maintenance before failures occur, optimising charge planning across depots, and maintaining duty-of-care oversight across the entire fleet.

Supporting Europe’s Mixed-Fleet Reality

OEM-embedded telematics removes the need for aftermarket device installation across mixed-manufacturer fleets, reducing logistical overhead and supporting compliance with works council and GDPR requirements — a critical consideration for European fleet operators.

“Polestar Fleet Telematics combines sustainability with intelligence, integrating seamlessly with Geotab to deliver these capabilities directly into the platforms fleet operators trust. Continuous data visibility enables more efficient and informed fleet operations, from day-to-day management to long-term planning. By leveraging Polestar vehicles’ embedded connectivity, fleet managers can make smarter, data-driven decisions — without adding hardware or complexity to their operations.” said Emma Knapp, Manager of Global Key Accounts at Polestar.

Polestar joins an OEM telematics network that already spans over 80% of leading global vehicle manufacturers by fleet market share, including BMW Group, Ford, Stellantis, Volkswagen Group, and Volvo Cars. For fleet operators already using MyGeotab, Polestar vehicles can be connected and deliver data without any additional hardware or installation.

“OEM-embedded telematics represents a change in how fleet data reaches the platform — and Polestar’s connected vehicle architecture makes this integration particularly well-suited for markets that are seriously considering transitioning to electric vehicles.” said Christoph Ludewig, Vice President OEM Global at Geotab. “Fleet operators managing mixed EV and internal combustion engine fleets no longer need separate tools or hardware for each vehicle type. Polestar data flows directly into MyGeotab alongside every other vehicle in the fleet — giving operators the consolidated visibility they need to drive efficiency, support duty of care, and manage their EV transition with confidence.”

Global Availability

The integration is available now across North America, Europe, and Asia Pacific, supporting all Polestar models. Fleet managers can activate the service via the Geotab Marketplace or by contacting their Geotab representative.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific.

Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include the Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

About Geotab

Geotab is a global leader in connected vehicle and asset management solutions, with headquarters in Oakville, Ontario and Atlanta, Georgia. Our mission is to make the world safer, more efficient, and sustainable. We leverage advanced data analytics and AI to transform fleet performance and operations, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve approximately 100,000 global customers, processing 100 billion data points daily from more than 5 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Geotab Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com/uk and follow us on LinkedIn or visit our blog.

GEOTAB and GEOTAB MARKETPLACE are registered trademarks of Geotab Inc. in Canada, the United States and/or other countries.

Media Contact: Geotab Contact, Romina Dashghachian, Strategic Communications Lead, EMEA, pr@geotab.com

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IDX Opens Geneva Office and Strengthens Global Data & Insights Capability

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12 hours ago

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May 5, 2026

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New Swiss presence and specialist team integration support growing global demand for evidence-based, defensible communications strategies

LONDON, May 5, 2026 /PRNewswire/ — IDX today announced the opening of its new Geneva office and the integration of a specialist Data & Insights team, strengthening the company’s international footprint and expanding its ability to help clients worldwide build communications strategies grounded in evidence, market intelligence and audience insight.

The expansion gives IDX an on-the-ground presence in Switzerland while adding further depth to its Data & Insights capability. The Geneva-based team will work closely with IDX specialists across performance marketing and corporate communications, helping clients develop a clearer view of the markets they operate in and the forces shaping their growth.

The move aligns with Destination 250 – Customers First, IDX’s global strategy to grow its team by 250, focused on deepening client value, strengthening delivery and investing in the capabilities that matter most to clients.

The investment strengthens the Data pillar of IDX’s Connected Content™ model, which combines Creative, Data, Technology and Media to create what IDX calls The Multiplier Effect, helping clients multiply what matters through more connected, measurable and effective work.

“IDX is experiencing phenomenal growth, and our new Geneva office gives us boots on the ground to better serve clients across Europe and globally across performance marketing, investor relations and corporate communications,” said Crispin Beale, Worldwide CEO, IDX. “Data has been at the heart of this business for decades, and this centre of excellence reflects our continued investment in that capability. It’s an incredibly exciting time for IDX, and I look forward to the next phase of our growth as we continue to expand globally.”

“This is an exciting step in IDX’s growth story and a clear response to what clients are asking for: more evidence-based thinking, stronger market context and clearer rationale behind their communications strategies,” said Chris Corrigan, Chief Customer Growth Officer, IDX. “Our new presence in Geneva, combined with deeper Data & Insights expertise, strengthens the way we support clients globally, giving them earlier access to the insight and market context they need to make better-informed decisions and turn evidence into action.”

The Geneva office will strengthen relationships with existing clients in the region, support re-engagement with former partners and create new opportunities for IDX with organisations operating across European and global markets. It reflects IDX’s continued investment in the capabilities that matter most to clients as communications, marketing and corporate reputation work become increasingly data-led and commercially accountable.

“IDX’s integrated offer across insights, performance marketing and corporate communications, powered by the combination of human intelligence, advanced technology and AI, represents exactly where the industry is heading,” said Lonneke de Roo, Head of Data & Insights, IDX. “I am delighted to join the business and help clients navigate increasingly complex markets with clearer evidence, sharper insight and more connected strategies.”

ABOUT IDX  

IDX is a global strategic communications and marketing agency, headquartered in London with offices around the world, including New York, London, Phoenix, Helsinki, Gothenburg, Geneva, and Vadodara. Working with more than 1,600 clients across sectors, IDX combines deep industry knowledge with a data-first mindset to help ambitious brands thrive in complex, fast-moving markets. The firm specialises in performance marketing, investor relations, and stakeholder engagement, delivering integrated campaigns that drive meaningful business outcomes. Visit www.idx.inc to learn more.

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