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Tantech Holdings Ltd. (TANH) Subsidiary Gohomeway Group Inc. Successfully Registers EU Trademark

LISHUI, China, Jan. 16, 2025 /PRNewswire/ — Tantech Holdings Ltd (NASDAQ: TANH) (“Tantech” or the “Company”) today announced that its subsidiary, Gohomeway Group Inc., successfully completed its EU trademark registration application under a fast-track review status.

The registered trademark, classified as a “graphic trademark containing textual elements,” features the core text “GOHOMEWAY” in black and yellow as the primary color schemes. It will span multiple categories of goods and services under Gohomeway, including wooden flooring, engineered wood flooring, and other building materials (Class 19), furniture, cabinets, and household storage solutions (Class 20), and e-commerce, advertising, and business consultancy services (Class 35).

This achievement underscores Gohomeway’s excellence in the home furnishing and building materials sector and lays a solid foundation for its strategic expansion in the European market. The successful trademark registration signifies another breakthrough for Tantech (TANH) in international markets.

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, remarked: “The successful EU trademark registration by Gohomeway Group Inc. is a significant milestone in our global strategy. Looking ahead, we will leverage the Gohomeway platform to deliver more innovative home furnishing and building material products to customers worldwide. We are committed to driving sustainable industry development and creating greater possibilities for a better home living experience.”

About Tantech Holdings Ltd

TANH is a professional high-tech enterprise focused on the production, research and development, and sales of home furnishing and building materials. With a well-established domestic and international sales and distribution network, the company has been active in the home furnishing and building materials industry since 2002, beginning with the manufacture of bamboo charcoal products for home use. In 2022, TANH further strengthened its presence in the North American market by establishing a wholly-owned subsidiary in the United States to enhance the R&D and sales of home furnishing and building materials.

The Company is fully ISO 90000 and ISO 14000 certified and has received a number of national, provincial and local honors, awards and certifications for its products and scientific research efforts. The Company’s subsidiary, First International Commercial Factoring (Shenzhen) Co., LTD, is engaged in commercial factoring for businesses in and related to its supply chain. For more information, please visit: https://tanhtech.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the sales, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Tantech Holdings Ltd
Investor Relations
Tel: +86 (578) 226-2305
ir@tantech.cn

Naas Technology Inc. Charging Network Accomplishes 50% City Coverage in China

BEIJING, Jan. 16, 2025 /PRNewswire/ — NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S.-listed EV charging service company in China, today announced its charging network has successfully expanded to 360 cities in China as of year-end 2024. This represents over 50% city coverage compared to a total city count of 694 in accordance with National Bureau of Statistics of China (NBS) for year 2023. Among 360 cities NAAS covered, approximately 170 of them increased charging volume through NaaS platform by more than 50% in 2024 compared to 2023. NAAS achieved this new benchmark through robust growth in both supply-side infrastructure and demand-side partnerships:

  • On the supply side, as of September 30, 2024, NaaS had connected nearly 1.15 million chargers to its charging network, accounting for approximately 35%[1] of China’s total public charging infrastructure. This critical momentum is a result of NaaS’ business strategy focus on core charging services as announced last year and its long-term mission in advancing the sustainable energy transition.
  • On the demand side, NaaS has expanded its user base through strategic collaborations with major automotive OEM brands. Partnerships with BYD’s sub-brands (Dynasty, Ocean, and Fang Cheng Bao), as well as leading players such as NETA, IM Motors, Hongqi, and FAW-Volkswagen, have ensured that electric vehicle (EV) drivers can easily, quickly and reliably access chargers anywhere and at any time.

Ms. Yang Wang, Chief Executive Officer of NaaS, commented, “We are proud of our dedicated pursuit of the strategic initiatives in advancing the EV charging ecosystem. Our supply-side infrastructure connection powered by AI technologies and NaaS Energy Fintech system is ready to deliver top-tier EV charging solutions for our users. Looking ahead, NaaS remains committed to advancing interconnectivity for vehicles of all types and sizes, as well as spearheading innovation in China’s rapidly growing EV charging market. By bridging the gap between supply and demand, NaaS is setting new standards for operational excellence, leading partnership win-wins, and empowering EV users to embrace a sustainable future.”

Mr. Steven Sim, Chief Financial Officer of NaaS, added, “Our strategic investment in the supply-side capabilities and technological advancements for our core charging services have consistently enhanced our financial performance, culminating in a record high gross margin of 57% for the most recent quarter ended September 30, 2024. As we continue to optimize, adapt and scale our charging business to fulfill the demand of the ever-expanding EV drivers, we are confident in further delivering the required energy performance to the EV charging community.”

[1] According to data from the China Electric Vehicle Charging Infrastructure Promotion Alliance, China had 3.33 million public chargers as of September 30, 2024, up from 2.73 million at the end of 2023.

About NaaS Technology Inc.

NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop solutions to energy asset owners comprising charging services, energy solutions and new initiatives, supporting every stage of energy assets’ lifecycle and facilitating energy transition.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the COVID-19 pandemic and the effects of government and other measures that have been or will be taken in connection therewith; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
Media inquiries:
E-mail: pr@enaas.com

New NCCN Patient Resource Shares Latest Understanding of Genetic Testing to Guide Patient Decision Making

Free information from the National Comprehensive Cancer Network offers information on how and why to access genetic counseling and testing for multiple hereditary cancers

PLYMOUTH MEETING, Pa., Jan. 16, 2025 /PRNewswire/ — Today, the National Comprehensive Cancer Network® (NCCN®)—an alliance of leading cancer centers—published a new resource to inform people about the latest recommendations around hereditary and familial cancer risk. This essential guide is based on the latest evidence and expert consensus in the rapidly advancing field of cancer genetics. It provides guidance on how best to assess, and test for, inherited genetic mutations that can raise the risk of cancer, and presents this information in a straightforward, plainspoken manner. 

The new NCCN Guidelines for Patients®: Genetic Testing for Hereditary Breast, Ovarian, Pancreatic, and Prostate Cancer is available for free at NCCN.org/patients or via the NCCN Patient Guides for Cancer App thanks to support from the NCCN Foundation®.
The new NCCN Guidelines for Patients®: Genetic Testing for Hereditary Breast, Ovarian, Pancreatic, and Prostate Cancer is available for free at NCCN.org/patients or via the NCCN Patient Guides for Cancer App thanks to support from the NCCN Foundation®.

“No other landscape in medicine has changed as drastically as the field of clinical genetics,” said Mary B. Daly, MD, PhD, FACP, Fox Chase Cancer Center; and Chair of the NCCN Guidelines® Panel for Genetic/Familial High-Risk Assessment: Breast, Ovarian, Pancreatic, and Prostate. “The changes have been facilitated by the work of the Human Genome Project but have gone way beyond its scope. Advances in technology have been a major driver of the explosion of knowledge in genetics, now allowing us to sequence the entire human genome in a short period of time and at a fraction of the cost of previous years. This has led to a better understanding of the natural history of cancer, the ability to assess genetic risk for cancer across populations, the development of clinical management strategies to reduce cancer risk, the development of novel therapeutic agents which target genetic alterations, and to improved education of patients and providers about genetic risk.”

The new NCCN Guidelines for Patients®: Genetic Testing for Hereditary Breast, Ovarian, Pancreatic, and Prostate Cancer is available for free at NCCN.org/patients or via the NCCN Patient Guides for Cancer App thanks to support from the NCCN Foundation®.

“NCCN brings together national experts in hereditary cancer to develop consensus guidelines based on the latest research,” said Susan Friedman, DVM, Executive Director, FORCE: Facing Our Risk of Cancer Empowered, who serves as a patient advocate on the NCCN Guidelines Panel for Genetic/Familial High-Risk Assessment: Breast, Ovarian, Pancreatic, and Prostate. “FORCE and the entire hereditary cancer community rely on the NCCN Guidelines for the most up-to-date and relevant information. Hereditary cancer is hard enough to navigate, so we are thankful for patient-friendly information to help inform the decision-making process.”

“After our mother and aunt were both diagnosed with breast cancer, my sister and I sought genetic testing that revealed that all of us except my sister carried the BRCA2 mutation,” said Denise Portner, a breast cancer survivor and member of the NCCN Foundation Board of Directors. “Had I not known my genetic status, I would not have had the MRI screening that caught my breast cancer as early as it did. Genetic testing is a vital tool in enabling individuals to be proactive in their health care to achieve the best possible outcomes. Having a patient guide that explains the testing process, what clinicians test for, and who should seek testing is an invaluable resource.”

“It’s very important for everyone to understand their cancer risks based on their personal or family history since their personal risk level may necessitate earlier, more frequent, and/or more intensive cancer surveillance,” added Heather Hampel, MS, Certified Genetics Counselor, Associate Director, Division of Clinical Cancer Genomics Professor, Department of Medical Oncology & Therapeutics Research, City of Hope. “This is the best way to ensure that you are doing everything you can to prevent cancer or catch it early when treatment has the best outcome. You can find a local cancer genetic counselor at findageneticcounselor.org if you would like a personalized cancer risk assessment. This often includes genetic testing to determine if you have a hereditary cancer susceptibility running in your family.”

The library of NCCN Guidelines for Patients includes more than 70 free books in multiple languages, featuring easy-to-understand information about prevention, screening, diagnosis, treatment, and supportive care for nearly every type of cancer. They are based on the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®)—which are continuously updated, evidence-based, expert consensus-driven recommendations that guide cancer care teams worldwide.

NCCN’s patient guidelines have earned numerous awards as high-quality, trustworthy sources of patient education on cancer. They are widely recognized for their role in helping to empower people with cancer to make informed treatment decisions that are best for them. Visit NCCN.org/patientresources to learn more about all of the different resources for people with cancer and their caregivers available from NCCN and the NCCN Foundation.

To help support these guidelines, and other patient resources, visit NCCN.org/foundation.

About the National Comprehensive Cancer Network
The National Comprehensive Cancer Network® (NCCN®) is marking 30 years as a not-for-profit alliance of leading cancer centers devoted to patient care, research, and education. NCCN is dedicated to defining and advancing quality, effective, equitable, and accessible cancer care and prevention so all people can live better lives. The NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) provide transparent, evidence-based, expert consensus-driven recommendations for cancer treatment, prevention, and supportive services; they are the recognized standard for clinical direction and policy in cancer management and the most thorough and frequently-updated clinical practice guidelines available in any area of medicine. The NCCN Guidelines for Patients® provide expert cancer treatment information to inform and empower patients and caregivers, through support from the NCCN Foundation®. NCCN also advances continuing education, global initiatives, policy, and research collaboration and publication in oncology. Visit NCCN.org for more information.

About the NCCN Foundation
The NCCN Foundation is marking 15 years of empowering people with cancer and their caregivers by delivering unbiased expert guidance from the world’s leading cancer experts through the library of NCCN Guidelines for Patients® and other patient education resources. The NCCN Foundation is also committed to advancing cancer treatment by funding the nation’s promising young investigators at the forefront of cancer research. For more information about the NCCN Foundation, visit nccnfoundation.org.

Media Contact: 
Rachel Darwin
267-622-6624
darwin@nccn.org

Lanvin Group Announces Leadership and Board Changes to Accelerate Growth and Strategic Initiatives

NEW YORK, Jan. 16, 2025 /PRNewswire/ — Lanvin Group (NYSE: LANV) (the “Company”) today announced key leadership and board changes designed to strengthen its position in the luxury fashion industry and further advance its strategic goals. These changes reflect the Company’s ongoing commitment to cultivating a dynamic, experienced leadership team capable of driving innovation and sustainable growth in a rapidly evolving market.

The Board of Directors has appointed Mr. Andy Lew, CEO of St. John Knits as Executive President of Lanvin Group, while Mr. Eric Chan will transition from his role as Chief Executive Officer to join the Board as a director.

Mr. Lew brings more than 35 years of experience in the fashion industry, with a proven track record of leadership and operational excellence in the luxury sector. In his new role, he will oversee the Company’s operations, including strategic implementation, business development and growth, financial management, supply chain, information technology, and brand operations. As part of this transition, Lanvin Group will establish a second headquarters in Europe, which will be led by Mr. Lew to support the Company’s global expansion. He will continue to serve as a key leader within St. John Knits International Inc., with day-to-day operations managed by a newly established management committee.

Prior to his leadership role at St. John Knits, Mr. Lew held senior positions at Brooks Brothers Group, Ermenegildo Zegna Group, and Nordstrom Inc., where he played a pivotal role in driving business expansion, leading high-performing teams, and navigating complex global markets. Additionally, Mr. Lew has served on the boards of August Purple, Soles4Souls, and several Brooks Brothers subsidiaries.

In conjunction with these leadership appointments, the Board has approved an expansion from eight to nine members and appointed Mr. Alan Liu, who will replace Ms. Grace Fang, alongside Mr. Eric Chan as directors, effective immediately.

Mr. Zhen Huang, Chairman of Lanvin Group, commented, “These leadership changes mark an exciting chapter for Lanvin Group as we continue to grow and innovate in the luxury fashion industry. Establishing a second headquarters in Europe under Andy’s leadership underscores our commitment to strengthening our global operations and market presence. I want to thank Eric Chan for his dedicated service as CEO and look forward to his continued contributions as a Board member. With Andy’s exceptional expertise and the strengthened Board, I am confident we will exceed our strategic goals and deliver even greater value to our stakeholders.”

Mr. Andy Lew added, “It’s an honor to step into the role of Executive President at such a pivotal moment for Lanvin Group. Leading the establishment of our European headquarters is a tremendous opportunity to expand our global footprint and elevate our brands. I look forward to supporting our creative talents, collaborating with our teams and Board to unlock new growth, and driving exceptional value for stakeholders.”

About Lanvin Group

Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. Lanvin Group is listed on the New York Stock Exchange under the ticker symbol “LANV”. For more information about Lanvin Group, please visit www.lanvin-group.com, and to view our investor presentation, please visit https://ir.lanvin-group.com.

Kutch Copper Joins the International Copper Association

WASHINGTON, Jan. 16, 2025 /PRNewswire/ — Kutch Copper Ltd. (KCL), part of Adani Group, has joined the International Copper Association (ICA) as its newest member. ICA is a not-for-profit trade association representing half the world’s copper production that works to promote copper, protect copper markets, and defend copper demand on behalf of its 34 members.

Located in Mundra, Gujarat, Kutch Copper is a subsidiary of the group’s flagship incubator, Adani Enterprises, which is investing $1.2 billion to establish a copper smelter with an initial capacity of 0.5 million tons per annum. Kutch Copper’s state-of-the-art facility will also produce copper cathodes, rods, and other byproducts. A planned expansion of the smelter will double capacity, positioning the facility as one of the largest single-location custom copper smelters globally.

Dr. Vinay Prakash, Managing Director of Kutch Copper, shared his optimism about joining the ICA. He said, “India is poised to become a significant hub for copper and its products in the coming decades. We believe that Kutch Copper’s membership in the ICA will allow us to actively contribute to sustainability initiatives and develop innovative applications and products within the copper sector. We look forward to collaborating with the global copper community to enhance the value chain for this essential metal, which plays a vital role in the transition to net zero.”

ICA President and CEO Juan Ignacio Díaz expressed his enthusiasm for the partnership, stating, “We are delighted to welcome Adani Metals Kutch Copper Ltd. to our community. Their efforts in advancing sustainable and innovative copper production strengthen our collective mission to promote, protect, and defend copper’s essential role in enabling the technologies and infrastructures needed for global decarbonization. With their presence, we are particularly excited to support copper’s growth in regions where its key applications are expanding.”

ICA Chairman of the Board, Glencore’s Stephen Rowland, added, “KCL’s membership in ICA strengthens our commitment to promoting sustainable practices and developing new applications for copper. We are excited to collaborate with them and support their efforts to drive positive change in the industry.”

About Kutch Copper Ltd.

Kutch Copper Ltd. (KCL), a subsidiary of Adani Enterprises, the flagship incubator of the Adani Group, is establishing a greenfield copper custom smelting and refining complex. Positioned to become a key contributor to India’s green energy infrastructure, KCL is committed to meeting the nation’s growing copper demand. The company is focused on sustainable and innovative production practices, aligning with India’s broader vision of fostering economic growth and development. KCL operates within the metals and materials vertical, one of the four major business segments of the Adani Group, alongside energy & utilities, transport & logistics, and consumer verticals. www.adanimetals.com

About the International Copper Association

The International Copper Association is the global voice of copper, with 34 members across 6 continents. Headquartered in Washington, D.C., ICA operates in the U.S., Europe, Asia and Latin America. ICA and its members are committed to promoting responsible production practices and advancing the future of human development for a sustainable future. internationalcopper.org.

Rokt and mParticle Merge to Redefine Real-Time Relevance

Creating an Unparalleled Offering to Unlock Value Across Ecommerce, Advertising and Customer Engagement with World-Class Controls to Protect First-Party Data

NEW YORK, Jan. 16, 2025 /PRNewswire/ — Rokt, the global leader in ecommerce unlocking real-time relevancy in the moment that matters most, today announced a US$300 million investment in mParticle, a leading customer data platform (CDP), to create an unparalleled offering to unlock real-time relevance across ecommerce, advertising and customer experience. This partnership combines Rokt’s expertise in bringing relevance to ecommerce transaction moments with mParticle’s real-time CDP, enabling businesses to unleash the potential of their customer data. Rokt will double the total investment into the CDP and accelerate innovation and delivery of mParticle’s product roadmap.

“Across billions of ecommerce transactions, we have seen joint clients achieve much better consumer and business outcomes when using mParticle – up to 50% better,” said Bruce Buchanan, CEO and co-founder of Rokt. “This merger will enable us to bring a significant performance lift to all of our clients. We are thrilled to join forces with the mParticle team to accelerate bringing our vision to life, enabling everyone to unlock the moments that matter most.”

“Our mission at mParticle has always been to simplify the complexity of customer data management and empower multi-channel brands to create meaningful connections with their customers across any screen,” said Michael Katz, CEO of mParticle. “Bringing mParticle and Rokt’s capabilities together will offer the best of both worlds – a new class of solutions where customers can activate their data in real time to immediately impact business outcomes while maintaining complete ownership and control over their customer data assets.”

The combined entity will ensure that brands continue to maintain complete control of first-party data, aligned with both companies’ commitment to set the standard for data privacy and compliance. As part of the merger, the mParticle founders will all remain in the business – Michael Katz will continue to be CEO of mParticle, Andrew Katz will become Chief Technology Officer of Rokt to lead innovation and data security across all products, Jason Lynn will remain Chief Product Officer of mParticle, and all three will join the Rokt executive team.

The merger follows a year of significant growth and new initiatives for Rokt, including accelerating revenue growth by more than 40% year over year, to US$600 million. At the start of 2024, Rokt announced the acquisition of AfterSell and the launch of its new generative AI tool, ACE, which helps advertisers maximize their return on ad spend. In addition, Rokt announced key appointments to its executive leadership team in 2024, including Jacqueline Purcell as Chief Financial Officer and Claire Southey as Chief Product Development Officer.

About Rokt

Rokt is the global leader in ecommerce, unlocking real-time relevancy in the moment that matters most. The company’s AI and ML-powered Rokt Brain and ecommerce Rokt Network will power more than 6.5 billion transactions connecting 400 million customers across the world’s leading companies, including Live Nation, Macy’s, AMC Theatres, PayPal, Uber, Hulu, Staples, Albertsons and HelloFresh. Rokt has achieved consistent annual growth of more than 40% across the past decade, driven by its unique partnership model that returns $7 from every $8 of value back to partners. Rokt is headquartered in New York City. The company has offices in 10 global locations and serves clients throughout North America, Europe and Asia-Pacific, solidifying its position as a key player in the global ecommerce ecosystem. To learn more, visit Rokt.com.

About mParticle

mParticle is the choice for multi-channel consumer brands who want to deliver intelligent and adaptive customer experiences in the moments that matter, across any screen or device, working with leading global brands like HBO Max, Marks & Spencer, JetBlue, SoFi and more. mParticle’s predictive capabilities help Marketing teams achieve performance at unmatched scale while meeting the Data teams’ requirements around composability and data governance. Founded in 2013, mParticle is headquartered in New York City with employees around the globe.

For media inquiries, please contact:

Sarah Fisher, VP Communications
sarah.fisher@rokt.com

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Rokt Announces Secondary Transaction, Increasing Valuation to US$3.5 Billion, and Appointment of Anita Sands to the Board of Directors

NEW YORK, Jan. 16, 2025 /PRNewswire/ — Rokt, the global leader in ecommerce unlocking real-time relevancy in the moment that matters most, today announced a secondary transaction amid strong demand from new and existing investors. The company has signed a stock purchase agreement for ~US$335 million with investors including Tiger Global Management, Square Peg, Barrenjoey and SecondQuarter. Board members including Janchor Partners’ John Ho, Terry Bowen and Karen Katz are also buying shares. This agreement values the business at US$3.5 billion.

“Rokt has delivered exceptional growth since launching 12 years ago, with our revenue trajectory continuing to accelerate – this year achieving 43% growth year over year, reaching US$600 million,” said Bruce Buchanan, CEO and co-founder of Rokt. “This was driven by outstanding performance across the Rokt Network, including our ecommerce products, our new Rokt Pay+ product, our international business, and our small and medium-sized business through AfterSell. In addition, we invested more than US$60 million in the Rokt Brain, our AI and machine learning customer relevance engine, and delivered a 28% improvement in relevance.”

“Rokt is a trusted and valuable partner to a significant – and growing – roster of clients across the globe,” said Griffin Schroeder, Partner at Tiger Global. “We’re pleased to increase our investment as they continue to deliver for their customers.” 

“Over the past six years, Rokt has grown revenue 10 times and invested heavily in product and network, while still maintaining profitability,” continued Buchanan. “Following significant inbound investor interest, we are thrilled to be able to offer employees and early investors access to over $100 million in liquidity.”

Rokt is also delighted to announce Anita Sands, Ph.D., is joining Rokt’s Board of Directors. Dr. Sands is a US-based investor, advisor and speaker who serves on the boards of numerous public and private companies, including ServiceNow and Nubank, where she is Lead Independent Director. Prior to this, she had a career spanning financial services and technology, including serving as Group Managing Director and Chief Operating Officer of UBS Wealth Management Americas.

“Rokt is transforming ecommerce through relevancy and enabling companies across verticals and across the globe to tap new revenue streams,” said Dr. Sands. “I’m extremely pleased to join the Rokt board at such an exciting moment and to work closely with the leadership team as it propels the company to new heights.”

About Rokt

Rokt is the global leader in ecommerce, unlocking real-time relevancy in the moment that matters most. The company’s AI- and ML-powered Rokt Brain and ecommerce Rokt Network will power more than 6.5 billion transactions connecting 400 million customers across the world’s leading companies, including Live Nation, Macy’s, AMC Theatres, PayPal, Uber, Hulu, Staples, Albertsons and HelloFresh. mParticle by Rokt is the central nervous system providing real-time data activation to unlock value across ecommerce, advertising and customer engagement. Rokt has achieved consistent annual growth of more than 40% across the past decade, driven by its unique partnership model that returns $7 from every $8 of value back to partners. Rokt is headquartered in New York City. The company has offices in 10 global locations and serves clients throughout North America, Europe and Asia-Pacific, solidifying its position as a key player in the global ecommerce ecosystem. To learn more, visit Rokt.com.

For media inquiries, please contact:

Sarah Fisher, VP Communications
sarah.fisher@rokt.com

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Infosys: Strong growth of 6.1% YoY in CC, 80 bps YoY operating margin expansion

  • Large deal TCV of $2.5 billion including 63% net new; Headcount increased by 5,591 
  • FY25 revenue guidance revised to 4.5%-5.0% 

BENGALURU, India, Jan. 16, 2025 /PRNewswire/ — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, delivered strong and broad-based performance with $4,939 million in Q3 revenues, growth of 1.7% sequentially and 6.1% year on year in constant currency. Operating margin for Q3 was at 21.3%, increase of 0.2% sequentially. Free cash flow for Q3 was highest ever at $1,263 million, growing 90% year on year. TCV of large deal wins was $2.5 billion, with 63% net new growing at 57% sequentially. Headcount increased for second consecutive quarter.

Revenues for YTD Dec’24 grew at 3.9% year on year in constant currency and in reported terms. Operating margin was at 21.2%, increase of 0.3% year on year.

“Our strong revenue growth sequentially in a seasonally weak quarter and broad-based year on year growth, along with robust operating parameters and margins, is a clear reflection of the success of our differentiated digital offerings, market positioning, and key strategic initiatives. We continue to strengthen our enterprise AI capabilities, particularly focusing on generative AI, which is witnessing increasing client traction,” said Salil Parekh, CEO and MD. “This has led to another quarter of strong large deal wins and improved deal pipeline giving us greater confidence as we look ahead,” he added.

1.7% QoQ

21.30 %

11.4% YoY

$2.5 Bn 

$1.3 Bn 

6.1% YoY 

Operating
Margin

EPS Increase 

Large Deal

Free 

 CC Growth

0.8% YoY increase

(₹ terms)

TCV

Cash Flow

Guidance for FY25:

  • Revenue growth of 4.5%-5.0% in constant currency
  • Operating margin of 20%-22%

Key highlights:

For nine months ended December 31, 2024

For the quarter ended December 31, 2024

Revenues in CC terms grew by 3.9% YoY 

Revenues in CC terms grew by 6.1% YoY and 1.7% QoQ

Reported revenues at $14,547 million, growth of 3.9% YoY 

Reported revenues at $4,939 million, growth of 5.9% YoY 

Operating margin at 21.2%, growth of 0.3% YoY 

Operating margin at 21.3%, increase of 0.8% YoY and 0.2% QoQ 

Basic EPS at $0.57, growth of 6.1% YoY 

Basic EPS at $0.19, growth of 9.6% YoY 

FCF at $3,196 million, growth of 57.1% YoY; 

FCF at $1,263 million, growth of 89.9% YoY; 

FCF conversion at 136.1% of net profit

FCF conversion at 156.6% of net profit

“We had another quarter of strong performance with revenue growth across segments and operating margin expansion, leading to 11.4% EPS growth year on year in rupee terms. Our structured approach to operating margin expansion yielded more results in Q3, particularly due to benefits from improving realization and scale benefits,” said Jayesh Sanghrajka, CFO. “Our sharp focus on cash flow is reflected in Free cash conversion to net profits of 157% in Q3 with free cash generation for 9 months of FY25 surpassing that of entire FY24,” he added.

1.  Client wins & Testimonials

  • Infosys Compaz and Temasek, announced a strategic collaboration with StarHub to accelerate their operations and drive technology-led innovations. Tan Kit Yong, Head of Enterprise Business Group, StarHub, said, “At StarHub, we have always prided ourselves on being at the forefront of innovation. By collaborating with iCompaz, we are expanding our horizons to offer an even wider range of offerings and technologies that are co-created to address the unique needs of our customers. Aligned with our DARE+ strategy, this powerful synergy will better position us as the go-to full-service supplier for businesses that need connectivity, cloud, cybersecurity, and other ICT services to accelerate their digital journeys.”
  • Infosys announced the extension of its existing collaboration with Old National Bank to accelerate its operational and technological transformation. Jim Ryan, Chairman & CEO, Old National Bank, said, “At Old National, we are committed to creating exceptional client and team member experiences. Infosys is expertly guiding us through business process enhancements, with a strong emphasis on efficiency and value generation. We greatly appreciate Infosys’ commitment to our growth and success.”
  • Infosys announced its collaboration with RheinEnergie to help enterprises drive their energy transition and sustainability agenda forward. Stephan Segbers, Chief Sales Officer and member of the board, RheinEnergie, said, “RheinEnergie firmly believes that innovative technological and digital solutions are intrinsic to achieving the ‘Energiewende’ and the ‘Wärmewende’, Germany’s planned transition to a low-carbon, nuclear-free economy. The powerful combination of Infosys’ global expertise in energy transition and cutting-edge technologies such as cloud and AI, and RheinEnergie’s extensive experience in providing energy services allows us to offer enterprises a comprehensive suite of solutions to help manage their energy costs and navigate their energy transition journey. We are excited about joining forces with Infosys and extend this innovative approach to businesses across various sectors. Together, we can accelerate the transition to a clean energy future for a healthier planet.”
  • Infosys announced the extension of its existing collaboration with Microsoft to help accelerate customer adoption of generative AI and Microsoft Azure, globally. Nicole Dezen, Chief Partner Officer at Microsoft, said, “Our expanded collaboration with Infosys will transform industries, enhance business operations, elevate employee experiences, and deliver new value for customers. Together, we will harness the power of generative AI to deliver innovative solutions, drive AI Adoption and enable unprecedented innovation for customers.”
  • Infosys announced the launch of its small language models – Infosys Topaz BankingSLM and Infosys Topaz ITOpsSLM – built using the powerful NVIDIA AI Stack. Jay Puri, Executive Vice President, Worldwide Field Operations, NVIDIA, said, “Generative AI and the recent advancements in agentic and physical AI are ushering in a new era of innovation and productivity for enterprises worldwide. NVIDIA’s full-stack AI platform combined with Infosys Topaz empowers businesses to build and deploy custom AI applications that will transform industries, helping businesses unlock their full potential.”
  • Infosys announced the launch of Google Cloud center of excellence, powered by Infosys Topaz, to foster enterprise AI innovation. Victor Morales, Vice President of GSI and Consulting Partnerships, Google Cloud, said, “Infosys and Google Cloud are committed to providing customers with the industry expertise and technology needed to accelerate digital transformation. The center of excellence is a testament to our strong collaboration and dedication to helping businesses innovate with breakthrough solutions powered by generative AI.”
  • Infosys announced its strategic collaboration with zooplus to enhance its service capability and scalability. Geoffroy Lefebvre, Chief Executive Officer, zooplus SE, said, “At zooplus our growth strategy has always been focused on leveraging data-driven insights to meet our customers’ demands. Our collaboration with Infosys to establish our new technology hub is a strategic decision driven by their AI-first strategies combined with expertise in delivering AI-powered solutions, with Infosys Topaz. We are confident that through this collaboration we will unlock greater operational efficiencies, enhance customer experience, and stay ahead in the competitive e-commerce landscape.”
  • Infosys announced a strategic collaboration with Kardex to transform its business operations using SAP S/4HANA. Thomas Reist, Chief Financial Officer of Kardex, said, “Our mission is to empower our customers to optimize their intralogistics operations, enhancing efficiency, agility, and overall success. By continually evolving our solutions and adapting to changing market demands, we aim to be the trusted partner of choice for companies seeking to boost their productivity. We are confident that our partnership with Infosys will propel us forward. With their extensive expertise in process transformation, supported by SAP solutions, and a proven track record of successful implementations, Infosys is the ideal partner to help us achieve our strategic objectives. We look forward to this collaboration as a means to advance our growth and further strengthen our position as a market leader.”
  • Infosys announced its collaboration with Southwark Council to launch its digital learning platform – Springboard in the borough. Dionne Lowndes, Chief Digital & Technology Officer, Southwark Council, said, “Partnering with Infosys to bring the Springboard platform to Southwark is a significant step towards realising our ambitious three-year digital strategy. The initiative will not only empower our residents, but local businesses too, with vital digital skills and resources. By enhancing this kind of accessibility and fostering innovation, we are working to enable our community to thrive in an ever-advancing technological world.”

2.  Recognitions & Awards

Brand

  • Awarded Silver in the India Workplace Equality Index (IWEI) 2024
  • Received the 2024 UN Women’s WEP India Award in the Gender-inclusive Workplace category
  • Received multiple recognitions at The Asset ESG Corporate Awards 2024 – Platinum Award for Excellence, Best Investor Relations Team, Best Initiative in Environmental Responsibility, and Best Initiative in Diversity and Inclusion categories
  • Received the Shorty Impact Awards in the Gender Equality category for the #SpotItToStopIt campaign

AI and Cloud Services

  • Received Binding Corporate Rules Certification from EU Data Protection Authorities
  • Positioned as a leader in Gartner Magic Quadrant for Cloud ERP Services
  • Rated as a leader in The Forrester Wave™: Automation Fabric Services, Q4 2024
  • Positioned as a leader in Microsoft Azure Services PEAK Matrix® Assessment 2024 by Everest Group
  • Recognized as a leader in IDC MarketScape: Asia/Pacific Managed Cloud Services 2024–2025 Vendor Assessment
  • Recognized as a leader in IDC MarketScape: Worldwide Adobe Experience Cloud Professional Services 2024–2025 Vendor Assessment
  • Positioned as a leader in HFS Horizons: AADA Quadfecta of Analytics, AI, Data Platforms, and Automation Services for Generative Enterprise 2024
  • Positioned as a leader in HFS Horizons: Azure Ecosystem Services Providers, 2024

Key Digital Services

  • Rated as a leader in The Forrester Wave™: Infrastructure Outsourcing Services, Q4 2024
  • Recognized as a leader in IDC MarketScape: Asia/Pacific Salesforce Implementation Services 2024–2025 Vendor Assessment
  • Recognized as a leader in IDC MarketScape: Worldwide Digital Workplace Services 2024 Vendor Assessment
  • Recognized as a leader in IDC MarketScape: European SAP Modernization Services 2024 Vendor Assessment
  • Positioned as a leader in HFS Horizons: IoT Service Providers, 2024
  • Positioned as a leader in HFS Horizons: Sustainability Services, 2024
  • Rated as a leader in Quality Engineering NEAT 2024 by NelsonHall
  • Recognized as a Market Maker in CapioIT Salesforce SI and Solutions Providers Ecosystem Capture Share Report, 2024
  • Infosys BPM won the ‘Outsourcing Impact Champion’ award at the Outsourcing Impact Review (OIR) 2024 for ‘Project Genesis’
  • Infosys BPM ranked as a Leader in ISG Provider Lens™ Quadrant Study on Procurement Services 2024
  • Infosys BPM recognized as a Leader in the IDC MarketScape: Worldwide Enterprise Analytics and AI Business Process Services for Finance and Accounting 2024 Vendor Assessment

Industry & Solutions

  • Recognized as a leader in IDC MarketScape Worldwide Life Science R&D ITO Services 2024
  • Recognized as a leader in IDC MarketScape: Worldwide Smart Insurance Producer Management Applications
  • Recognized as a leader in IDC MarketScape: Worldwide Service Providers for Utilities Customer Operations 2024 Vendor Assessment
  • Positioned as a leader in HFS Horizons: Healthcare Payer Services 2024
  • Positioned as a leader in HFS Horizons: The Best Service Providers for Commercial Banks, 2025
  • Infosys Finacle has been positioned as a Leader by Everest Group in the Wealth Management Products PEAK Matrix® Assessment 2024 Report
  • Infosys Finacle has been positioned as a Leader by Everest Group in the Consumer Loan Origination Systems (LOS) – Products PEAK Matrix® Assessment 2024 Report
  • MEA Finance Banking Technology Awards 2024: Best Composable Banking Transformation – Emirates NBD and Infosys Finacle

Read more about our Awards & Recognitions here.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, our future financial or operating performance, the McCamish cybersecurity incident and the related review and notification process are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid working model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, the amount of any additional costs, including indemnities or damages or claims, resulting directly or indirectly from the McCamish cybersecurity incident and the outcome and effect of pending litigation. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at https://www.sec.gov/. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

 

Infosys Limited and subsidiaries

Extracted from the Condensed Consolidated Balance Sheet under IFRS as at:                                     (Dollars in millions)

December 31, 2024

March 31, 2024

ASSETS

Current assets

Cash and cash equivalents

2,663

1,773

Current investments

933

1,548

Trade receivables

3,896

3,620

Unbilled revenue

1,318

1,531

Other current assets

1,428

2,250

Total current assets

10,238

10,722

Non-current assets

Property, plant and equipment and Right-of-use assets

2,183

2,323

Goodwill and other Intangible assets

1,508

1,042

Non-current investments

1,105

1,404

Unbilled revenue

301

213

Other non-current assets

956

819

Total non-current assets

6,053

5,801

Total assets

16,291

16,523

LIABILITIES AND EQUITY

Current liabilities

Trade payables

429

474

Unearned revenue

988

880

Employee benefit obligations

336

314

Other current liabilities and provisions

3,050

2,983

Total current liabilities

4,803

4,651

Non-current liabilities

Lease liabilities

667

767

Other non-current liabilities

465

500

Total non-current liabilities

1,132

1,267

Total liabilities

5,935

5,918

Total equity attributable to equity holders of the company

10,307

10,559

Non-controlling interests

49

46

Total equity

10,356

10,605

Total liabilities and equity

16,291

16,523

  

Extracted from the Condensed Consolidated statement of Comprehensive Income under IFRS for:

(Dollars in millions except per equity share data)

3 months ended
December 31, 2024

3 months ended
December 31, 2023

9 months ended
December 31, 2024

9 months ended
December 31, 2023

Revenues

4,939

4,663

14,547

13,997

Cost of sales

3,444

3,274

10,103

9,755

Gross profit

1,495

1,389

4,444

4,242

Operating expenses:

   Selling and marketing expenses

218

204

671

633

   Administrative expenses

224

229

693

692

Total operating expenses

442

433

1,364

1,325

Operating profit

1,053

956

3,080

2,917

Other income, net (3)

90

79

249

196

Profit before income taxes

1,143

1,035

3,329

3,113

Income tax expense

337

301

981

904

Net profit (before minority interest)

806

734

2,348

2,209

Net profit (after minority interest)

804

733

2,345

2,208

Basic EPS ($)

0.19

0.18

0.57

0.53

Diluted EPS ($)

0.19

0.18

0.56

0.53

NOTES:

  1. The above information is extracted from the audited condensed consolidated Balance sheet and Statement of Comprehensive Income for the quarter and nine months ended December 31, 2024, which have been taken on record at the Board meeting held on January 16, 2025.
  2. A Fact Sheet providing the operating metrics of the Company can be downloaded from www.infosys.com.
  3. Other income is net of Finance Cost.
  4. As the quarter and nine months ended figures are taken from the source and rounded to the nearest digits, the quarter figures in this statement added up to the figures reported for the previous quarter might not always add up to the nine months ended figures reported in this statement.

IFRS-INR Press Release : https://www.infosys.com/investors/reports-filings/quarterly-results/2024-2025/q3/documents/ifrs-inr-press-release.pdf

Fact sheet: https://www.infosys.com/investors/reports-filings/quarterly-results/2024-2025/q3/documents/fact-sheet.pdf