Technology

Digital Turbine Reports Fiscal 2025 Third Quarter Financial Results

Published

1 year ago

February 5, 2025

Third Quarter Revenue Totaled $134.6 Million

Third Quarter GAAP Net Loss of $23.1 Million, or GAAP EPS of ($0.22); Third Quarter Non-GAAP Adjusted Net Income1 of $13.7 Million and Non-GAAP Adjusted EPS1 of $0.13

Third Quarter Non-GAAP Adjusted EBITDA2 Totaled $22.0 Million

AUSTIN, Texas, Feb. 5, 2025 /PRNewswire/ — Digital Turbine, Inc. (Nasdaq: APPS) announced financial results for the fiscal third quarter ended December 31, 2024.

Recent Financial Highlights:

Fiscal third quarter of 2025 revenue totaled $134.6 million, representing an increase of 13% quarter-over-quarter as compared to the fiscal second quarter of 2025, and a decline of 6% year-over-year as compared to the fiscal third quarter of 2024.

GAAP net loss for the fiscal third quarter of 2025 was $23.1 million, or ($0.22) per share, as compared to GAAP net loss for the fiscal third quarter of 2024 of $14.1 million, or ($0.14) per share. Non-GAAP adjusted net income1 for the fiscal third quarter of 2025 was $13.7 million, or $0.13 per share, as compared to Non-GAAP adjusted net income1 of $15.6 million, or $0.15 per share, in the fiscal third quarter of 2024.

Non-GAAP adjusted EBITDA2 for the fiscal third quarter of 2025 was $22.0 million, representing an increase of 44% quarter-over-quarter as compared to the fiscal second quarter of 2025, and a decline of 13% year-over-year as compared to Non-GAAP adjusted EBITDA2 of $25.4 million in the fiscal third quarter of 2024.

Non-GAAP free cash flow3 totaled $6.4 million in the fiscal third quarter of 2025.

“Our financial results exceeded our expectations in the December quarter with improved execution and the enactment of transformational profit-optimization measures driving improved operating performance and free cash flow,” said Bill Stone, CEO. “Strong advertiser and publisher demand for our increasingly wide array of On-Device product offerings and continuing growth in spending from leading advertising agencies and brand advertisers on our App Growth Platform were important revenue drivers. We are raising our fiscal 2025 outlook, which implies year-over-year revenue growth in the March quarter with more material year-over-year growth in EBITDA. We believe that our future is bright, and I am extremely grateful for the resilience, focus and hustle prominently displayed throughout the organization as Digital Turbine returns to a growth company.”

Fiscal 2025 Third Quarter Financial Results

Total revenue for the third quarter of fiscal 2025 was $134.6 million. Total On Device Solutions revenue before intercompany eliminations was $91.7 million. Total App Growth Platform revenue before intercompany eliminations was $44.2 million.

GAAP net loss for the third quarter of fiscal 2025 was $23.1 million, or ($0.22) per share, as compared to GAAP net loss for the third quarter of fiscal 2024 of $14.1 million, or ($0.14) per share.

Non-GAAP adjusted net income1 for the third quarter of fiscal 2025 was $13.7 million, or $0.13 per share, as compared to Non-GAAP adjusted net income1 of $15.6 million, or $0.15 per share, in the third quarter of fiscal 2024.

Non-GAAP adjusted EBITDA2 for the third quarter of fiscal 2025 was $22.0 million, as compared to Non-GAAP adjusted EBITDA2 for the third quarter of fiscal 2024 of $25.4 million.

Business Outlook

Based on information available as of February 5, 2025, the Company is raising its annual guidance, and currently expects the following for fiscal year 2025:

Revenue of between $485 million and $490 millionNon-GAAP adjusted EBITDA2 of between $69 million and $71 million

It is not reasonably practicable to provide a business outlook for GAAP net income because the Company cannot reasonably estimate the changes in stock-based compensation expense, which is directly impacted by changes in the Company’s stock price, or other items that are difficult to predict with precision.

About Digital Turbine, Inc.

Digital Turbine empowers superior mobile consumer experiences and results for the world’s leading telcos, advertisers, and publishers. Its end-to-end platform uniquely simplifies its partners’ abilities to supercharge awareness, acquisition, and monetization – connecting them with more consumers, in more ways, across more devices. Digital Turbine is headquartered in North America, with offices around the world. For additional information visit www.digitalturbine.com.

Conference Call

Management will host a conference call and webcast today at 4:30 p.m. ET to discuss its fiscal 2025 third quarter financial results and provide operational updates on the business. The conference call will discuss forward guidance and other material information. The call can be accessed online via the webcast link: https://app.webinar.net/r46V3JYXmyx. The call can also be accessed by dialing 888-317-6003 in the United States (or 412-317-6061 from international locations) and entering access code 8775045. A live and archived webcast of the call can be accessed via the Investor Relations section of Digital Turbine’s website. The webcast will be archived for a period of one year and is available via the Investor Relations section of Digital Turbine’s website.

For those unable to join the live call, a playback will be available through February 12th, 2025. The replay can be accessed by dialing 877-344-7529 in the United States or 412-317-0088 from international locations, passcode 3909564.

An online webcast will be archived for a period of one year and is available via the Investor Relations section of Digital Turbine’s website.

Use of Non-GAAP Financial Measures

To supplement the Company’s consolidated financial statements presented in accordance with GAAP, Digital Turbine uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP adjusted net income and earnings per share (“EPS”), non-GAAP adjusted EBITDA, non-GAAP free cash flow and non-GAAP gross profit. Reconciliations to the nearest GAAP measures of all non-GAAP measures included in this press release can be found in the tables below.

Non-GAAP measures are provided to enhance investors’ overall understanding of the Company’s current financial performance, prospects for the future and as a means to evaluate period-to-period comparisons. The Company believes that these non-GAAP measures provide meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results. The Company believes the non-GAAP measures that exclude such items when viewed in conjunction with GAAP results and the accompanying reconciliations enhance the comparability of results against prior periods and allow for greater transparency of financial results. The Company believes non-GAAP measures facilitate management’s internal comparison of its financial performance to that of prior periods as well as trend analysis for budgeting and planning purposes. The presentation of non-GAAP measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

1Non-GAAP adjusted net income and EPS are defined as GAAP net income and EPS adjusted to exclude the effect of stock-based compensation expense, amortization of intangibles, business transformation costs, transaction-related expenses, severance costs, changes in fair value of contingent considerations, contract settlement fees, and tax adjustments. Readers are cautioned that non-GAAP adjusted net income and EPS should not be construed as an alternative to comparable GAAP net income figures determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.

2Non-GAAP adjusted EBITDA is calculated as GAAP net income excluding the following cash and non-cash expenses: stock-based compensation expense, depreciation and amortization, net interest income (expense), net other income (expense), business transformation costs, foreign exchange transaction gains (losses), income tax (benefit) provision, transaction-related expenses, contract settlement fees, changes in fair value of contingent considerations, and severance costs. Non-GAAP adjusted EBITDA margin is calculated as non-GAAP adjusted EBITDA as a percentage of total revenue. Readers are cautioned that non-GAAP adjusted EBITDA should not be construed as an alternative to net income determined in accordance with U.S. GAAP as an indicator of performance, which is the most comparable measure under GAAP.

3Non-GAAP free cash flow, which is a non-GAAP financial measure, is defined as net cash provided by operating activities (as stated in our Consolidated Statements of Cash Flows), excluding transaction-related expenses, severance costs and business transformation costs, reduced by capital expenditures. Readers are cautioned that free cash flow should not be construed as an alternative to net cash provided by operating activities determined in accordance with U.S. GAAP as an indicator of profitability, performance or liquidity, which is the most comparable measure under GAAP.

4Non-GAAP gross profit is defined as GAAP income from operations adjusted to exclude the effect of product development costs, sales and marketing costs, general and administrative costs, contract settlement fees, and depreciation of software included in other direct costs of revenue. Readers are cautioned that non-GAAP gross profit should not be construed as an alternative to income from operations determined in accordance with U.S. GAAP as an indicator of profitability or performance, which is the most comparable measure under GAAP.

Non-GAAP adjusted EBITDA, non-GAAP adjusted net income and EPS, non-GAAP free cash flow and non-GAAP gross profit are used by management as internal measures of profitability and performance. They have been included because the Company believes that the measures are used by certain investors to assess the Company’s financial performance before non-cash charges and certain costs that the Company does not believe are reflective of its underlying business.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release that are not statements of historical fact and that concern future results from operations, financial position, economic conditions, product releases and any other statement that may be construed as a prediction of future performance or events, including financial projections and growth in various products are forward-looking statements that speak only as of the date made and which involve known and unknown risks, uncertainties and other factors which may, should one or more of these risks uncertainties or other factors materialize, cause actual results to differ materially from those expressed or implied by such statements. These factors and risks include:

Risks Specific to our Business

We have a history of net lossesWe have a limited operating history for our current portfolio of assets.Growth may place significant demands on our management and our infrastructure.Our operations are global in scope, and we face added business, political, regulatory, legal, operational, financial and economic risks as a result of our international operations.Our financial results could vary significantly from quarter-to-quarter and are difficult to predict.A significant portion of our revenue is derived from a limited number of wireless carriers and customers.The risk of impairment of our goodwill.The effects of the current and any future general downturns in the U.S. and the global economy, including financial market disruptions.Our products, services and systems rely on software that is highly technical, and if it contains errors or viruses, our business could be adversely affected.Our business may involve the use, transmission and storage of confidential information and personally identifiable information, and the failure to properly safeguard such information could result in significant reputational harm and monetary damages.Our business and reputation could be impacted by information technology system failures and network disruptionsSystem security risks and cyber-attacks could disrupt our internal operations or information technology services provided to customers.Our business and growth may suffer if we are unable to hire and retain key talent.If we are unable to maintain our corporate culture, our business could be harmed.Our transformation activities and reduction in force may not adequately reduce our operating costs or improve our operating margins or cash flows, may lead to additional workforce attrition and may cause operational disruptions.If we make future acquisitions, this could require significant management attention and disrupt our business.Adverse effects of negative developments affecting the financial services industry, including events or concerns involving liquidity, defaults, or non-performance by financial institutions.Entry into new lines of business, and our offering of new products and services, resulting from our investments may result in exposure to new risks.Litigation may harm out business.

Risks Related to the Mobile Advertising Industry

The mobile advertising business is an intensely competitive industry, and we may not be able to compete successfully.The markets for our products and services are rapidly evolving and may decline or experience limited growth.Our business is dependent on the continued growth in usage of smartphones and other mobile connected devices.Wireless technologies are changing rapidly, and we may not be successful in working with these new technologies.The complexity of and incompatibilities among mobile devices may require us to use additional resources for the development of our products and services.If wireless subscribers do not continue to use their mobile devices to access mobile content and other applications, our business growth and future revenue may be adversely affected.A shift of technology platform by wireless carriers and mobile device manufacturers could lengthen the development period for our offerings, increase our costs, and cause our offerings to be published later than anticipated.Actual or perceived security vulnerabilities in devices or wireless networks could adversely affect our revenue.We may be subject to legal liability associated with providing mobile and online services.Risks of public health issues, such as a major epidemic or pandemic.Risk related to geopolitical conditions and the global economy, including conflicts, financial markets, and inflation.Risk related to the geopolitical relationship between the U.S. and China or changes in China’s economic and regulatory landscape.

Industry Regulatory Risks

We are subject to rapidly changing and increasingly stringent laws, regulations and contractual requirements related to privacy, data security, and protection of children.We are subject to anti-corruption, import/export, government sanction, and similar laws, especially related to our international operations.Government regulation of our marketing methods could restrict or prevent our ability to adequately advertise and promote our content, products and services available in certain jurisdictions.Regulatory requirements pertaining to the marketing, advertising, and promotion of our products and services.Governmental regulation of our marketing methods.

Risks Related to Our Intellectual Property and Potential Liability

Third parties may obtain and improperly use our intellectual property; and if so, our competitive position may be adversely affected, particularly if we do not, or are unable to, adequately protect our intellectual property rightsThird parties may sue us for intellectual property infringement, which may prevent or limit our use of the intellectual property and disrupt our business and could require us to pay significant damage awards.Our platform contains open source software.Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, damages caused by malicious software, and other losses.

Risks Relating to Our Common Stock and Capital Structure

We have secured and unsecured indebtedness, which could limit our financial flexibility.To service our debt and fund our other obligations and capital requirements, we will require a significant amount of cash, and our ability to generate cash will depend on many factors beyond our control.The market price of our common stock is likely to be highly volatile and subject to wide fluctuations, and you may be unable to resell your shares at or above the current price or the price at which you purchased your shares.Risk of not being able to raise capital to grow our business.Risk to trading volume of lack of securities or industry analysts research coverage.A material weakness in our internal control over financial reporting and disclosure controls and procedures could, if not remediated, result in material misstatements in our financial statements.Maintaining and improvising financial controls and being a public company may strain resources.Anti-takeover provisions in our charter documents could make an acquisition of our company more difficult.Our bylaws designate Delaware as the exclusive forum for certain disputes.Other risks described in the risk factors in Item 1A of our latest Annual Report on Form 10-K under the heading “Risk Factors” and subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.

You should not place undue reliance on these forward-looking statements. The Company does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations Contact:
Brian Bartholomew
Digital Turbine, Inc.
brian.bartholomew@digitalturbine.com

Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income
(Unaudited)
(in thousands, except share and per share amounts)

Three months ended December 31,

Nine months ended
December 31,

2024

2023

2024

2023

Net revenue

$ 134,637

$ 142,634

$ 371,354

$ 432,259

Costs of revenue and operating expenses

Revenue share

69,947

70,364

182,092

208,675

Other direct costs of revenue

8,954

8,614

25,182

27,244

Product development

10,203

13,036

30,350

42,873

Sales and marketing

15,494

14,432

47,628

45,546

General and administrative

42,792

45,455

128,485

127,339

Impairment of goodwill

—

147,181

Total costs of revenue and operating expenses

147,390

151,901

413,737

598,858

Loss from operations

(12,753)

(9,267)

(42,383)

(166,599)

Interest and other income (expense), net

Change in fair value of contingent consideration

(500)

—

(300)

372

Interest expense, net

(8,446)

(7,666)

(25,928)

(22,900)

Foreign exchange transaction gain

1,037

338

879

155

Other expense, net

(57)

(311)

(67)

Total interest and other expense, net

(7,966)

(7,639)

(25,328)

(22,440)

Loss before income taxes

(20,719)

(16,906)

(67,711)

(189,039)

Income tax provision (benefit)

2,412

(2,845)

5,562

(5,097)

Net loss

(23,131)

(14,061)

(73,273)

(183,942)

Less: net loss attributable to non-controlling interest

—

(220)

Net loss attributable to Digital Turbine, Inc.

(23,131)

(14,061)

(73,273)

(183,722)

Other comprehensive income (loss)

Foreign currency translation gain (loss)

(4,101)

3,585

(3,157)

(3,809)

Comprehensive loss

(27,232)

(10,476)

(76,430)

(187,751)

Less: comprehensive income attributable to non-controlling
interest

—

519

Comprehensive loss attributable to Digital Turbine, Inc.

$ (27,232)

$ (10,476)

$ (76,430)

$ (188,270)

Net loss per common share

Basic

$ (0.22)

$ (0.14)

$ (0.71)

$ (1.83)

Diluted

$ (0.22)

$ (0.14)

$ (0.71)

$ (1.83)

Weighted-average common shares outstanding

Basic

104,148

101,376

103,201

100,643

Diluted

104,148

101,376

103,201

100,643

Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except par value and share amounts)

December 31, 2024

March 31, 2024

(Unaudited)

ASSETS

Current assets

Cash and cash equivalents

$ 35,314

$ 33,605

Accounts receivable, net

199,949

191,015

Prepaid expenses

6,877

7,704

Other current assets

12,418

10,017

Total current assets

254,558

242,341

Property and equipment, net

49,625

45,782

Right-of-use assets

10,631

9,127

Intangible assets, net

270,262

313,505

Goodwill

221,080

220,072

Other non-current assets

33,992

34,713

TOTAL ASSETS

$ 840,148

$ 865,540

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities

Accounts payable

$ 147,732

$ 159,200

Accrued revenue share

34,734

33,934

Accrued compensation

8,475

7,209

Acquisition purchase price liabilities

1,886

—

Other current liabilities

47,830

35,681

Total current liabilities

240,657

236,024

Long-term debt, net of debt issuance costs

408,154

383,490

Deferred tax liabilities, net

14,903

20,424

Other non-current liabilities

12,853

11,670

Total liabilities

676,567

651,608

Commitments and contingencies

Stockholders’ equity

Preferred stock

Series A convertible preferred stock at $0.0001 par value; 2,000,000 shares
authorized, 100,000 issued and outstanding (liquidation preference of $1)

100

Common stock

$0.0001 par value: 200,000,000 shares authorized; 105,593,103 issued and
104,834,978 outstanding at December 31, 2024; 102,877,057 issued and
102,118,932 outstanding at March 31, 2024

Additional paid-in capital

884,270

858,191

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

(71)

Accumulated other comprehensive loss

(52,112)

(48,955)

Accumulated deficit

(668,616)

(595,343)

Total stockholders’ equity

163,581

213,932

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$ 840,148

$ 865,540

Digital Turbine, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(in thousands)

Three months ended December 31,

2024

2023

Cash flows from operating activities:

Net (loss) income

$ (23,131)

$ (14,061)

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

Depreciation and amortization

19,613

21,008

Non-cash interest expense

533

209

Allowance for credit losses

846

1,348

Stock-based compensation expense

8,250

7,987

Change in estimate of remaining contingent consideration

500

—

Right-of-use asset

238

(1,272)

Foreign exchange transaction gain

(1,037)

(338)

(Increase) decrease in assets:

Accounts receivable, gross

(9,532)

(27,790)

Prepaid expenses

143

(2,484)

Other current assets

(43)

(2,680)

Other non-current assets

284

(1,205)

Increase (decrease) in liabilities:

Accounts payable

(7)

19,799

Accrued revenue share

5,463

11,537

Accrued compensation

1,244

(743)

Other current liabilities

9,719

(2,788)

Deferred income taxes

(2,243)

1,723

Other non-current liabilities

(397)

1,411

Net cash provided by operating activities

10,443

11,661

Cash flows from investing activities

Equity investments

—

(9,678)

Business acquisitions, net of cash acquired

—

Capital expenditures

(7,125)

(3,107)

Net cash used in investing activities

(7,125)

(12,720)

Cash flows from financing activities

Proceeds from borrowings

—

8,000

Repayment of debt obligations

—

(17,998)

Payment of withholding taxes for net share settlement of equity awards

(71)

(139)

Options exercised

Net cash used in financing activities

(127)

(10,080)

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

(642)

1,955

Net change in cash and cash equivalents and restricted cash

2,549

(9,184)

Cash and cash equivalents and restricted cash, beginning of period

32,765

58,649

Cash and cash equivalents and restricted cash, end of period

$ 35,314

$ 49,465

REVENUE BY SEGMENT

(in thousands)

(Unaudited)

Three months ended December 31,

2024

2023

% Change

On Device Solutions

$ 91,736

$ 94,298

(3) %

App Growth Platform

44,241

49,181

(10) %

Elimination

(1,340)

(845)

59 %

Consolidated

$ 134,637

$ 142,634

(6) %

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

(in thousands)

(Unaudited)

Three months ended December 31,

2024

2023

Net revenue

$ 134,637

$ 142,634

(Loss) income from operations

(12,753)

(9,267)

Add-back items:

Product development

10,203

13,036

Sales and marketing

15,494

14,432

General and administrative

42,792

45,455

Depreciation of software included in other direct costs of revenue

572

Contract settlement fees

3,800

—

Non-GAAP gross profit

$ 59,553

$ 64,228

Non-GAAP gross profit percentage

44 %

45 %

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

(in thousands)

(Unaudited)

Three months ended December 31,

2024

2023

Net (loss) income

$ (23,131)

(14,061)

Add-back items:

Stock-based compensation expense

8,250

7,987

Amortization of intangibles

13,474

15,936

Change in fair value of contingent consideration

500

—

Tax adjustment (1)

7,685

—

Business transformation costs

667

4,763

Transaction-related expenses

207

Severance costs

2,220

909

Contract settlement fees

3,800

—

Non-GAAP adjusted net income

$ 13,672

$ 15,580

Non-GAAP adjusted net income per common share

$ 0.13

$ 0.15

Weighted-average common shares outstanding, diluted

105,851

103,459

(1) Valuation allowance

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

(in thousands)

(Unaudited)

Three months ended December 31,

2024

2023

Net (loss) income

$ (23,131)

$ (14,061)

Add-back items:

Stock-based compensation expense

8,250

7,987

Depreciation and amortization

19,613

21,008

Interest expense, net

8,446

7,666

Other expense, net

311

Change in fair value of contingent consideration

500

—

Business transformation costs

667

4,763

Foreign exchange transaction (gain) loss

(1,037)

(338)

Income tax provision (benefit)

2,412

(2,845)

Transaction-related expenses

207

Severance costs

2,220

909

Contract settlement fees

3,800

—

Non-GAAP adjusted EBITDA

$ 22,004

$ 25,446

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

(in thousands)

(Unaudited)

Three months ended December 31,

2024

2023

Net cash provided by operating activities

$ 10,443

$ 11,661

Capital expenditures

(7,125)

(3,107)

Transaction-related expenses

207

Severance costs

2,220

909

Business transformation costs

667

4,763

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

$ 6,412

$ 14,272

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SOURCE Digital Turbine, Inc.

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SOURCE Innowise

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OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0: An Evolved AI Companion for Global Intelligent Mobility

Intelligent mobility requires proactive perception, scenario integration, and global connectivity to meet personalized user needs and complex driving scenarios. Neusoft, whose products cover over 130 countries and regions worldwide, addresses these challenges with its OneCoreGo® Global In-Vehicle Intelligent Mobility Solution 7.0 through AI-driven innovation and global ecosystem collaboration. Powered by One Mate’s cross-agent collaboration and a sub-product matrix including One Map, One Sight, One Cloud, One Pay, One Store, One Link, and One Guard, the solution delivers full-link global mobility services spanning navigation, in-cabin AR, payment, app ecosystem services, connectivity and security. By breaking down functional silos, it streamlines multi-step operations into a single “depart” command, leveraging full-stack AI technology across perception, decision-making, interaction, and execution processes.

Guan Xin, Vice President of Neusoft and General Manager of Neusoft Automotive Innovative Solutions Division, said, “Adhering to the core principles of AI and globalization, OneCoreGo® 7.0 keeps innovating, evolving into a globally intelligent mobility companion that truly understands user needs.”

To enhance driving safety and mobility efficiency, OneCoreGo® 7.0 has also comprehensively upgraded its sub-products: One Map Global Navigation newly introduces 3D city effects, 3D lane-level maps, and traffic light guidance, offering dedicated solutions for two-wheelers and commercial vehicles as well. One Sight AR For Car improves navigation display effects, reducing instances of taking wrong routes. One Pay In-Vehicle Payment achieves over 90% payment coverage for parking services across core European cities. Combined with One Cloud’s global compliance cloud monitoring platform and One Guard’s full-stack vehicle networking security services, it creates a truly comprehensive OneCoreGo® Global In-Vehicle Intelligent Mobility Solution.

Neusoft NAGIC.AI Cockpit Software Platform: Dual-track Architecture for AI Integration in Every Vehicle

Amid the AI-driven transformation of the automotive industry, the market faces two challenges: limited computing power in legacy vehicles and high adaptation difficulties for next-gen models. Neusoft’s NAGIC.AI Cockpit Software Platform adopts a flexible “distributed + centralized” dual-track architecture approach. For existing vehicle models, it introduces the AI BOX solution, rapidly boosting computing power via external AI computing units, significantly reducing upgrade costs and timelines. For new vehicle models built on next-gen central computing platforms, Neusoft provides a full-stack AI cockpit software product suite, meeting automakers’ stringent requirements for system stability, reliability, and full-domain control.

Pang Hongyan, Vice President of Neusoft and General Manager of the Automotive Intelligent Software Division, said, “Our dual-track architecture enables every vehicle to embrace AI and enjoy an intelligent future. Both existing models and new-generation vehicles can find the most suitable path to intelligentization.”

Moreover, Neusoft’s NAGIC.AI Cockpit Software Platform features scenario-based, human-centric AI Agents seamlessly integrating driving safety, occupant care services, intelligent assisted driving and in-cabin entertainment. Neusoft also collaborates with global ecosystem partners to drive intelligent upgrades of in-cabin interaction products, fostering a more open and dynamic intelligent cockpit ecosystem.

Strategic Upgrade of Neusoft Smart Go: A World-leading Provider of Full-Domain Upper-Body Electronics Solutions for Intelligent Vehicles

Aligning with the trend of E/E architecture evolution from distributed control to “central computing + zonal control”, Neusoft Smart Go, a subsidiary of Neusoft in the field of intelligent vehicle connectivity, has completed a strategic upgrade, aiming to become a global leader in full-domain upper-body electronics solutions for intelligent vehicles.

This strategic upgrade positions Neusoft Smart Go to focus on full-domain scenarios in upper-body electronics, building a product matrix covering full-category in-vehicle electronics solutions, including central computing platforms, cockpit-driving-parking integration, intelligent cockpits, intelligent communications, intelligent audio systems, and zonal control units, and pioneering the integration of large model algorithms.

Jian Guodong, Senior Vice President of Neusoft and CEO of Neusoft Smart Go, said, “This strategic upgrade represents a significant leap from partial focus to comprehensive layout. Through our dual-track strategy of high-end cutting-edge solutions and mature standardized products, we can flexibly meet the mass production needs of vehicle models across different regions and price segments worldwide.” Neusoft Smart Go will provide mass-producible, adaptable hardware-software integrated solutions, empowering global automakers in achieving intelligent transformation.

Neusoft’s President, Mr.Gai Longjia stated, “In the future, Neusoft Smart Go will create stronger synergy with Neusoft Corporation by sharing internal technologies and capabilities while responding jointly to external demands. This specialized yet collaborative model will preserve business unit’s agility and expertise while enhancing Neusoft’s full-stack technological advantages.”

As a trusted partner in a smarter world, Neusoft is committed to collaborating with global automakers and ecosystem partners to build an open and inclusive intelligent automotive community together for the future of global mobility.

For more information about Neusoft, please visit www.neusoft.com.

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SOURCE Neusoft Corporation

Technology

Lianlian DigiTech Returns to Money20/20 Asia to Expand Partnerships, Share Industry Trends, and Explore AI-Enabled Global Financial Infrastructure

Published

9 hours ago

April 26, 2026

BANGKOK, April 26, 2026 /PRNewswire/ — Lianlian DigiTech, a leading global provider of digital payment services, was once again invited to participate in Money20/20 Asia, one of the world’s most influential fintech gatherings, held in Bangkok, Thailand from April 21 to 23. At the event, the company presented its latest developments in cross-border payment infrastructure, technology innovation, and ecosystem collaboration, offering a comprehensive view of its work enhancing global cross-border payment capabilities.

During the conference, Lianlian DigiTech announced a strategic partnership with UK-based fintech company USI Money to further strengthen its global cross-border payment network, delivering more efficient and reliable fund flows for merchants worldwide. Shen Enguang, Co-President of Lianlian DigiTech; Mark Ma, Head of Global Banking Partnership at LianLian Global; and Bryan Jiang, General Manager Hong Kong of LianLian Global, attended the event and engaged with representatives from international financial institutions. They shared perspectives on fintech trends and global payment innovation, offering industry insight into the continued evolution of a more integrated and interoperable cross-border payments ecosystem.

Building a Borderless Payment Network with Global Partners Including USI Money

At the event, Lianlian DigiTech formalized a strategic collaboration with London-headquartered USI Money to further develop its global payment infrastructure.

The partnership will focus on cross-border remittance and foreign exchange services, combining both companies’ technological capabilities and resources to deliver a one-stop payment and collection solution for global businesses. The offering is built to be efficient, secure, and cost-effective, improving overall fund flow efficiency and streamlining foreign exchange execution.

Syed Bukhari, Group Chief Business and Operating Officer at USI Money, said: “Our partnership with Lianlian will strengthen our remittance capabilities, creating greater value for our customers through broader network coverage and improved transaction performance.”

Bryan Jiang, General Manager Hong Kong of LianLian Global, said: “By leveraging the complementary strengths of our ecosystem partners in technology and compliance, Lianlian will continue to scale its global payment network and improve transaction efficiency. We remain committed to enhancing financial connectivity across global financial markets and delivering more efficient and reliable cross-border payment solutions for our customers.”

Founded in 2009 and listed on the Main Board of the Hong Kong Stock Exchange in 2024 (2598.HK), Lianlian DigiTech is a China-based, globally focused digital payment company with increasingly integrated AI capabilities across its platform. Guided by its mission of “Connecting the world, Empowering global commerce,” the company focuses on developing a trusted and scalable financial infrastructure. As of the end of 2025, Lianlian DigiTech has built a cross-border payment network covering more than 100 countries and regions, serving over 10.4 million customers worldwide.

USI Money is a foreign exchange and international remittance service provider offering tailored cross-border financial solutions for businesses and individuals. With competitive real-time exchange rates and efficient execution as its core strengths, the company delivers fast, secure, and reliable global fund transfers.

In addition, Lianlian DigiTech co-hosted a networking session with Unlimit during the event, providing a forum for industry dialogue. The session brought together a broad group of fintech partners to explore collaborative models and help foster a more connected ecosystem.

Industry Roundtables: Unlocking Layered Collaboration in AI-Driven Cross-Border Payments and Advancing Financial Inclusion in Emerging Markets

At the same time, Mark Ma and Bryan Jiang were invited to the themed roundtable discussions, where they shared insights drawn from industry practice and outlined new approaches to aligning fintech innovation with the global financial system.

At the roundtable on “Fintech and Banks,” Mark Ma noted that the global payment system is rapidly shifting from isolated capabilities to a layered, collaborative model. Banks continue to serve as the foundational infrastructure, responsible for clearing networks and liquidity management. Fintech firms like Lianlian, meanwhile, build on top of this foundation to deliver application-layer services for businesses, transforming complex cross-border payment channels into more accessible solutions that support a wider range of practical business scenarios. He also emphasized fintech’s growing role in compliance and value creation. By embedding risk controls and verification processes into technology workflows, fintech companies can act as compliance intermediaries, improving efficiency while filtering risk and enabling banks to operate more effectively at scale. Meanwhile, insights derived from transaction data and business flows allow for more precise evaluation of small and medium-sized businesses, shifting capital allocation from experience-based decisions to data-driven approaches and improving access to financial services.

At the roundtable titled “Different Worlds, Shared Challenges: Bridging Emerging Markets,” Bryan Jiang pointed out that the core of financial inclusion is shifting from scale of coverage to practical usability in everyday financial activity. The ability to serve underserved segments such as small and micro merchants and overseas workers in a sustained and reliable manner ultimately depends on continuous improvements in product design and operational capabilities. Using emerging markets as an example, Jiang explained that small and medium-sized businesses in these regions often face challenges such as difficult account setup, complex cross-border collections, high foreign exchange costs, and multi-layered tax requirements. Many existing solutions still follow traditional business-focused models, resulting in cumbersome KYB processes and lengthy review cycles that are misaligned with the asset-light, high-frequency, fast-turnover nature of these businesses. In response, Lianlian has lowered barriers to fund flows by offering local collection accounts, optimizing foreign exchange mechanisms, and improving settlement efficiency. The company has also restructured account architecture, streamlined review processes, and enhanced fund visibility, creating a more seamless and intuitive user experience that better aligns financial services with its clients’ business operations and day-to-day activities.

As digital technologies increasingly integrate with the real economy, innovations in AI and blockchain are reshaping the foundations of global financial services. Lianlian DigiTech has long invested in AI capabilities, global compliance, and the growth of its international service network. Its broad licensing coverage, regulatory track record, localized service capabilities, and technical reliability have earned the trust of regulators, customers, and partners worldwide.

Looking ahead, Lianlian DigiTech will continue to build on its cross-border expertise and compliance experience to further develop its AI capabilities and deepen collaboration with global partners. The company aims to extend its role beyond payment network services into more integrated financial infrastructure solutions. Lianlian DigiTech remains committed to serving as a trusted platform for global financial transactions in an increasingly digital environment, enabling businesses and individuals worldwide to access faster, more efficient, and more seamless cross-border financial services.

View original content:https://www.prnewswire.com/apac/news-releases/lianlian-digitech-returns-to-money2020-asia-to-expand-partnerships-share-industry-trends-and-explore-ai-enabled-global-financial-infrastructure-302753667.html

SOURCE LianLian Global