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Has ARKK Been Oversold? Traders Are Doubling Down On A Potential Innovation Recovery With This Leveraged ETF

Benzinga

By Rachael Green, Benzinga ARK Innovation ETF (NYSEARCA: ARKK) was an investor darling in the first year of the pandemic with its robust portfolio of COVID-era winners like Zoom (NASDAQ: ZM). But the disruptive tech ETF took a beating in 2022, falling more than 67% throughout the year. However, this year, ARKK seems to have begun a slow and arduous recovery, gaining over 40% year-to-date despite a widespread selloff this summer. Still, it’s far from its 2020 peak of over $150 per share, and some bullish investors believe the partial recovery this year is a sign that the ETF is ready to regain its former glory. Here’s what’s behind that bullish outlook. A Potential Upcoming Pause In Rate Hikes As Economic Data Gives Cause For Optimism Investors remain optimistic that the Federal Reserve will pause interest rate hikes at its upcoming meeting on September 20. In August, key economic indicators were largely mixed but still suggested that inflation was cooling overall. While consumer prices rose from 3% in June to 3.2% in July, core inflation – consumer prices with food and energy prices stripped out– declined slightly from 4.8% in June to 4.7%. And it’s that core inflation that the Federal Reserve wants to see come down to its 2% target. If interest rate hikes are paused, the macroeconomic tailwind this month could add more lift to ARKK which has already begun recovering some of its August losses. Despite Investor Exodus, ARKK Still Has A Potentially Promising Growth Portfolio ARKK may have missed the explosive AI-generated growth of Nvidia (NASDAQ: NVDA), but the top 10 holdings are dotted with underdog growth stocks. For example, the app and game developer platform Unity Software (NYSE: U) just landed a deal this summer to use Unity’s gaming software in Apple’s (NASDAQ: AAPL) upcoming virtual reality headset, Apple Vision Pro. Zoom, the video communications platform that’s been relatively neglected by investors after its pandemic-era boom, has been building up a stockpile of cash that now sits at about $6 billion. It’s planning to use that to grow its enterprise vertical, one of its most successful segments. It’s also spending some of that on new AI-enhanced features, like the new AI Companion, a built-in AI-powered assistant that can catch you up on meetings if you’re late, auto-generate meeting summaries, and even give you feedback on your conversational and presenting skills. You Can Potentially Magnify Your Bullish ARKK Views With the AXS 2X Innovation ETF For investors who see the summer tumble as a hiccup in ARKK’s overall upward trajectory, AXS Investments has designed a unique leveraged ETF just for you. The AXS 2X Innovation ETF (TARK) seeks 200% of the daily performance of the ARK Innovation ETF. That 2x leverage gives investors a chance to turn the ETF’s slow and rocky recovery into more substantial gains. That added leverage does increase the risk of using TARK, so it’s important to use it for short-term trades, such as the potential upswing following the Fed’s upcoming meeting. But when used carefully, TARK is a useful tool for traders who are staunchly bullish on disruptive tech and see the periodic panicked selloffs as an opportunity to find yield. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 20, 2023 09:00 AM Eastern Daylight Time

First Human Clinical Trials Of A Potentially “Game-Changing Broad Spectrum Antiviral” Are Progressing Successfully – Drug Could Treat COVID, RSV And Many Other Respiratory Viruses

Benzinga

By Rachael Green, Benzinga As COVID cases begin to rise again, heralding the beginning of another COVID wave, new variants have appeared leading this wave. EG.5 (“Eris”) is currently in the majority in the U.S.A, but a very different variant, BA.2.86 (“Pirola”) is already rising in the number of cases. BA.2.86 carries more than 30 changes in its spike protein, as well as changes in other proteins. Scientists believe it is questionable whether the newest booster vaccine shots would be effective for this one. The newest vaccines are “single-agent” targeting the XBB variant. It is not known how effective the approved drugs (mainly Paxlovid - Pfizer Inc. (NYSE: PFE)) would be against this new variant, and further on, as the virus keeps changing. It is now clear that the SARS-CoV-2 virus is here to stay, and that it will keep changing as it continues to learn to avoid vaccines and antibodies and our own immune systems and continues to learn to resist existing old-fashioned drugs. Even without new variants, for clinically vulnerable patients COVID has always continued to be a terrifying reality. In light of this, the broad-spectrum antiviral that is based on a novel nanomedicines platform being developed by one emerging drug company could be promising. NanoViricides, Inc (NYSE American: NNVC ) announced that it has made progress on its Phase 1a/1b clinical trial of NV-CoV-2, a novel antiviral drug candidate that has the potential to treat all strains of the coronavirus. The clinical-stage biotech reported that the safety and tolerability parts of the trial testing the antiviral in healthy subjects is nearly complete and it’s now preparing for the efficacy and dose optimization part of the trial with COVID patients. NanoViricides Broad Spectrum Antiviral Could Change How We Treat Viral Infections So far, NanoViricides has built a robust foundation of promising preclinical research that demonstrates the unique antiviral platform’s potential to treat not just COVID-19 but a wide range of other common and hard-to-treat viral diseases like other coronaviruses, RSV, shingles, herpes, rabies and the flu. The reason it could have such broad applicability is because the NanoViricides platform was specifically designed to target a particular binding site that’s common across many viruses and doesn’t change even as a virus mutates. Essentially, the nanoviricide platform mimics the binding site on a human cell that a virus would normally target in order to infect that cell. Then it seeks out the virus and when the virus binds to the nanoviricide instead, the drug candidate immediately engulfs the virus, where it’s unable to infect the patient’s cells or reproduce. The First Of These Drugs Is Now In Human Phase 1a And 1b Clinical Trials The Phase 1a/1b clinical trial includes single-ascending dose (SAD) and multiple-ascending dose (MAD) safety and tolerability studies in healthy subjects. NanoViricides reported that 26 of the 36 volunteers in the SAD study and 17 of the 36 volunteers in the MAD study have already completed the program. And so far, the early data looks promising. Neither adverse events nor serious adverse events have been found to date in either study. "The excellent safety and tolerability of NV-CoV-2 in both formulations in the clinical trials is consistent with the results of pre-clinical animal studies, giving us confidence that our preclinical animal studies can be expected to be predictive of human clinical trials,” said NanoViricides Executive Chairman and President, Anil R. Diwan, Ph.D. Ongoing Phase 1a And 1b Clinical Trials Will Give First Indication Of Nanoviricides Efficacy In Humans With that baseline of safety and tolerability, the next part of the trial is to enroll COVID patients in the trial and start evaluating whether the positive preclinical effectiveness results for the drug will translate to human trials. Once this trial is finished, NanoViricides plans to seek permission to move into phase 2 clinical trials from multiple regulatory agencies worldwide. Of note, the same drug was found to be effective in pre-clinical studies against another important respiratory virus, RSV. Such a broad spectrum antiviral effectiveness is reminiscent of the development of antibiotics against bacteria. This could be a game-changing development in antiviral therapeutics. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 19, 2023 09:25 AM Eastern Daylight Time

FAMILY QUEST ENTERTAINMENT LAUNCHES AS NEW INDUSTRY LEADER IN LIVE EVENT ENTERTAINMENT AND EDUCATIONAL EXPERIENCES

Family Quest

Family Quest Entertainment, a new live event organization specializing in family entertainment and education, launched today as the parent company for Jurassic Quest and Brick Fest Live. Backed by L2 Capital, Family Quest Entertainment named longtime entertainment executive Jeff Munn the company’s first CEO. Munn was most recently the CEO of Jurassic Quest and will now oversee all properties under the Family Quest Entertainment umbrella. The announcement coincides with the 10th anniversary of Jurassic Quest, which has hosted over 10 million guests in more than 250 cities throughout North America since it launched in September 2013. “With a portfolio that includes the highest attended dinosaur exhibition in North America and the number one attended brick event for families, Family Quest Entertainment is already garnering paid attendance numbers that position us as one of the top family touring companies,” said Munn. “We plan to expand Jurassic Quest and Brick Fest Live into new markets, offer new experiences, and bring positive family memories to even more fans worldwide. We will be adding even more properties to Family Quest Entertainment in 2024.” Munn added, “Our goal is to create engaging moments and interactive opportunities through entertainment. We are proud that Jurassic Quest is the largest, most scientifically realistic dinosaur experience on the continent, and Brick Fest Live unlocks imagination and creativity through hands-on engagement. We will continue to prioritize edutainment throughout Family Quest Entertainment.” L2 Capital acquired Jurassic Quest in 2019 and added Brick Fest Live earlier this year, setting the stage for the launch of Family Quest Entertainment. Across the properties, Family Quest Entertainment projects more than 3 million attendees in 2024 and will continue to expand partnerships, which currently include local and regional sponsors along with national brands such as eBay, State Farm, and T-Mobile. Notable figures about each property: Jurassic Quest: 250+ North American cities played Over 10 million tickets sold in 10 years Over 2 million social media followers Brick Fest Live: 57 U.S. cities played in 67 venues Over 1.1 million attendees since 2014 Owns Guinness World Record for the Largest LEGO Mosaic of a LEGO minifigure As part of the announcement, Family Quest Entertainment named Tyler Semerdjian Chief Marketing Officer, Amanda Gabelman Vice President of Brand & Experience, and Andriana Magness Vice President of Tour Development & Routing. Semerdjian worked as the VP of Marketing for the San Diego Seals in the National Lacrosse League before joining the organization in July 2023. Gableman spent over 12 years at Feld Entertainment and more than four years at the Harlem Globetrotters before joining Jurassic Quest in 2021. Magness worked for VStar Entertainment Group for over 15 years in their booking department prior to joining Jurassic Quest in 2020. “Under Jeff’s leadership and an incredible team with unmatched industry experience, Family Quest Entertainment will create countless memories and learning opportunities for millions of families every year,” said L2 Capital Partner Lorin Cassidy Wolfe. “We look forward to growing our platform globally.” Munn spent over three decades of his live events career with the Harlem Globetrotters, where he served in various executive capacities, including Chief Operating Officer. He was named CEO of Jurassic Quest in August 2022 and held that position for 13 months until his role was expanded as the CEO of Family Quest Entertainment. About Family Quest Entertainment Family Quest Entertainment produces and presents unique interactive family experiences that entertain and educate. Its properties are designed to create memorable moments that spark joy for families around the world through the power of imagination and discovery. Its current brand portfolio includes Jurassic Quest and Brick Fest Live, which have collectively entertained millions of families in over 250 cities. Family Quest Entertainment is owned by L2 Capital Partners. For more information, visit www.familyquestentertainment.com or LinkedIn. About Jurassic Quest Jurassic Quest is the largest and most realistic dinosaur experience in North America and part of the Family Quest Entertainment portfolio. Since 2013, Jurassic Quest has entertained over 10 million fans in over 250 cities with an up close and personal look at the giants that once ruled the Earth. Developed with leading paleontologists, each dinosaur is brought to life using realistic likenesses, movement, and sound. Jurassic Quest is a leader in edutainment, bringing the classroom to life for families, educators, and dinosaur fans of all ages. For more information and tickets visit www.jurassicquest.com. About Brick Fest Live Founded in 2013, Brick Fest Live is the number-one attended brick event for families worldwide. As part of the Family Quest Entertainment portfolio, Brick Fest Live produces events in venues across the United States, in addition to selling licensed LEGO® merchandise at each of its brick-themed events and through various e-commerce channels. The Brick Fest Live experience brings a fresh perspective to family-friendly events by celebrating LEGO® products and the lifelong love for brick-building. Its shows include over 1 million bricks on display, as well as several hands-on activities and attractions that provide families with fun, safe, educational, and interactive environments designed to inspire, educate, and entertain. About L2 Capital Partners L2 Capital (www.L2Capital.net) is a lower middle market private equity firm in Devon, PA and Miami, FL that has delivered market leading returns since 2010 by investing in niche lower middle market leading consumer and business services companies. L2 executes a differentiated operations-focused strategy by targeting founder and entrepreneur-led businesses that are at an inflection point where L2's breakthrough growth framework and direct operating expertise can quickly accelerate market share gain. Contact Details Eric PR & Marketing, LLC Eric Nemeth nemeth@ericpr.com Company Website https://familyquestentertainment.com/

September 19, 2023 07:29 AM Eastern Daylight Time

Blackbird chasing "enormous, fast-growing opportunity" with new product

Blackbird PLC

Blackbird PLC (AIM:BIRD, OTCQX:BBRDF) CEO Ian McDonough speaks to Proactive's Thomas Warner after the technology company presented its latest product to investors at a special event in Shoreditch. McDonough explains that the product, called elevate.io, is an innovative web-based end-to-end editing and audio creation platform designed for the creative industry. He says the platform's standout feature is real-time global collaboration for editors, which addresses a key challenge faced by creators. McDonough emphasises the unique advantage Blackbird has been able to garner from its core codec, highlighting that it enabled the rapid development of the new product. He says initial reactions from investors were highly positive and says there is immense potential growth in the $250 billion creative economy. Blackbird is targeting a $20 billion market for tools and services within this sector, projected to grow at a CAGR of 20-25% over a decade. He says Blackbird is chasing an "enormous, fast-growing opportunity" with the new product that is expected to launch early in the new year. Additionally, Blackbird's announced earlier this week the signing of a new contract with an original equipment manufacturer (OEM) for the Summer Games in 2024. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

September 18, 2023 09:04 AM Eastern Daylight Time

Video

Pivot To Agri-Food Sector Pays Off For Sadot Group, Inc As Company Reports First Profitable Quarter In Q2 2023

Benzinga

By Rachael Green, Benzinga In November of last year, Sadot Group Inc (NASDAQ: SDOT) pivoted from being primarily a restaurant and food service brand to becoming a global agri-food supply chain operator, sourcing agricultural products from producing regions and delivering them to markets around the world. Nine months later, it marked its ninth consecutive month of generating at least $45 million in monthly revenue. And in its second-quarter earnings released in August, it reported its first profitable quarter in its history, with quarterly revenue rising to $160 million. How Sadot Group Pivoted From Food Service To Global Agri-Food Supply Chain In November 2022, the company formerly known as Muscle Maker, Inc. formed Sadot LLC, marking the official strategic pivot into the global agri-foods supply chain sector. Since then, the company’s focus has been on becoming a leader in providing sustainable solutions that address food security issues around the world. “By broadening our perspective, we seized the opportunity to venture into new markets and businesses within the global food industry. This move not only offers significant financial prospects but also generates social and environmental value," said Sadot Group Inc. CEO Michael Roper. Its trading operations, housed under Sadot Agri-Foods, source food and feed products like soy, wheat and corn from key producing regions and deliver them to buyers across Central & South America, Asia, Africa and the Middle East. As this vertical grows, the company also plans to add logistics and transportation services as well as carbon monitoring and carbon credits. Its farm operations, housed under Sadot Farm Operations, take it a step further and actually produce those major food crops along with high-value crops like mango and avocado at the company’s farms in southern Africa. At the end of August, it added over 4,900 acre s of farmland in Zambia to its operations. The acquired farmland has the potential to harvest over 1,300 acres of corn, 775 acres of soybean, 270 acres of wheat, 180 acres of avocado and 50 acres of mango. Its first wheat harvest as Sadot-owned farmland is expected this month or early October. While its trading and farm operations mark the biggest changes and the biggest drivers of the company’s recent transition into profitability, Sadot Group hasn’t completely abandoned the food service sector where it got its start. Instead, the Company began a significant overhaul of its operations and structure to cut costs and improve revenue. That includes re-franchising the company-owned Pokémoto and Muscle Maker Grill locations, while exploring strategic options for Superfit Foods. There are currently 34 Pok é moto locations, 10 company-owned units plus 24 franchises. For Muscle Maker Grill, there are 3 company-owned locations plus an additional 10 franchised locations. The Company will focus on franchising its successful Pok é moto concept as a way to generate royalties from the brand while maintaining an asset-light business model with lower operating expenses. It has since sold 57 new franchise agreements that are expected to open in the near future. “These actions will allow us to strengthen our balance sheet and reallocate funds towards growing the agri-foods supply chain business, reinforcing our commitment to increasing shareholder value by focusing on our path to profitability, market diversification, and a strengthened brand presence," said Roper. The Multi-Million Dollar Success Of Sadot Group’s Revamped Business Strategy In the second quarter of 2022, before the formation of Sadot LLC, Muscle Maker Inc. reported a net loss of $1.8 million. One year later, Sadot Group completely flipped the script, reporting a net income of $190,000 for its second quarter of 2023. While cutting operating costs and overhead has been key, that transition into profitability was largely driven by record revenue growth coming from the company’s new trading and farming operations. Its quarterly earnings grew from $3 million in Q2 2022 to $160 million in Q2 2023, and nearly all of that came from its agri-food vertical which completed 21 transactions for the quarter, averaging $7.5 million each. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 15, 2023 09:15 AM Eastern Daylight Time

How FiscalNote (NYSE: NOTE) Is Empowering AI Integration For Governing Bodies Around The World

Benzinga

By Jad Malaeb, Benzinga FiscalNote Holdings (NYSE: NOTE) is a leader in policy and global intelligence. By uniquely combining data, technology and insights, FiscalNote uses AI to empower customers with critical insights and the tools to turn them into action. The company bolsters its leadership in the public sector arena through strategic expansions that enrich its leadership team and amplify its global coverage, and empower AI integration for governing bodies around the world. This strategic approach signifies FiscalNote's continued commitment to providing holistic solutions for traversing intricate regulatory terrains. At the core of this expansion lies FiscalNote's fortified global public sector leadership team. This augmented team amalgamates diverse expertise and a truly worldwide perspective, thereby positioning the company to proffer tailored regulatory insights and intelligence to clients across the globe. Significantly, FiscalNote has forged a partnership with the World Health Organization (WHO), attesting to the company’s acumen in delivering critical regulatory insights. This collaboration underscores FiscalNote's dedication to contributing significantly to global public health initiatives. Further amplifying FiscalNote's dedication to excellence, several distinguished organizations have become recent clients: Embassy of Japan in the U.S. Embassy of Canada in the U.S. Embassy of Pakistan in the U.S. Ministry of Unification, Korea Ministry of Economy, Trade and Industry, Japan Ministry of Foreign Affairs, United Arab Emirates Armed Forces, Sweden Europe Office (EU), Finland A national parliament in the APAC region One of the company’s most significant recently-announced partnerships has been with Korea’s Ministry of Foreign Affairs, which agreed to collaborate on the use of FiscalNote’s proprietary data sets and enhanced AI capabilities to assist the Ministry with responding to shifts in domestic and international policy. Josh Resnik, FiscalNote’s President and COO, said of the company’s global expansion focus, “Elected leaders, civil servants, diplomats, and governmental staff at all levels grapple with a tremendous amount of uncertainty, complexity, and volatility in every corner of the globe as they face an ever-growing set of policy challenges. FiscalNote continues to distinguish itself by serving as an essential, reliable, and critical partner to world’s most important decision makers who depend on our portfolio of AI solutions to deliver results.” This announcement is one of the many FiscalNote has issued demonstrating its public sector growth. Since the first quarter of 2023, FiscalNote has signed global media and healthcare companies, global commercial companies and trade associations/NGOs into their long list of partners. For an exhaustive overview of FiscalNote's strategic expansion initiatives and its esteemed partnerships, including collaborations with the World Health Organization and embassies, refer to the original press release available here. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 15, 2023 09:15 AM Eastern Daylight Time

Chicken Salad Chick Introduces the Chick Melt

YourUpdateTV

Chicken Salad Chick, the nation’s only fast-casual chicken salad restaurant concept announced today the launch of its brand-new menu item, The Chick Melt. Recently, Gabrielle Shaiman, the Melt Marketing Manager at Chicken Salad Chick, participated in a nationwide satellite media tour to discuss the new menu offering, what makes Chicken Salad Chick unique, and some exciting, upcoming promotions. A video accompanying this announcement is available at: https://youtu.be/HPTbmKJPKvo This new, exciting addition to menus nationwide will feature each guest’s choice of one of Chicken Salad Chick’s 12+ chicken salad flavors paired with provolone cheese, all atop a toasted, buttery croissant. The balance of the sandwich’s golden-brown, crispy exterior and melted, gooey cheesy interior, naturally elevates the brand’s famous made-from-scratch chicken salad flavors to a whole new level. As part of this new menu item launch, Chicken Salad Chick guests can expect to experience the Southern hospitality that Chicken Salad Chick is known for with the following specials and giveaways. · “Make Patty Melt” From September 18 – 23 all guests named Patty, Patrick, Patricia, or the like, can receive a free Chick Melt at all Chicken Salad Chick locations. · “Nothing Fishy Here” From October 25 – 27, guests can say goodbye to “tuna melt breath” when they exchange a can of tuna for a free Chick Melt, at participating locations. All cans collected will be donated to a homeless shelter or food bank chosen by each location. For more information and to find a restaurant location near you, visit chickensaladchick.com Gabrielle Shaiman Gabrielle Shaiman brings years of marketing experience to Chicken Salad Chick. She leads the development and execution of creative and content assets used across the entire Chicken Salad Chick brand. She manages brand communication platforms and supports both corporate and individual owners with marketing new product launches as well as day-to-day menu items and specials. She has served as one of the creative masterminds behind the launch of the new Chick Melt, earning her "Marketing & Melt Expert" title. Gabrielle graduated from Florida State University in Tallahassee, FL. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

September 14, 2023 12:34 PM Eastern Daylight Time

Video

FTN Network Acquires DFSForecast, Signs Partnership with One Week Season

FTN Network

FTN Network, a company built for delivering affordable, customizable, and highly detailed and advanced NFL data for betting, season-long fantasy, and daily fantasy, announced today that it has acquired DFSForecast, known for its Daily Fantasy Sports Lineup Builders and Advanced Data Tools. Leveraging the acquisition, FTN will provide the Optimizer to The Fantasy Footballers, and recently solidified a partnership with One Week Season to offer the DFS Optimizer to its collective userbase. Subscribers on FTNDaily.com will now be able to take advantage of DFSForecast’s lineup optimizer to create countless daily fantasy lineups in a simple and easy-to-use tool powered by FTN Data. Generated lineups can then be uploaded to one’s preferred fantasy operator, simplifying mass roster inputting. The Fantasy Footballers and One Week Season will be the first partners to use this newly acquired tool that is now part of the suite of products offered to FTN Data customers. Offered at a competitive price point compared to its competitors, FTN will look to expand its network of partners by offering this tool to those that have previously been hindered by the cost. “The 2023 football season is still very young, but FTN has seen an explosion of growth,” said FTN Network CEO Kevin Adams. “We were really impressed with the work Caleb Nelson, Sam Vitello, Adam Lewis, and the entire DFSForecast team were doing. The acquisition and incorporation of DFSForecast into our umbrella of tools offered to our customers is just another step in the journey of cementing FTN Network as the one-stop-shop for anyone when it comes to fantasy enthusiast or bettor.” "From our first meeting on, we saw FTN as a natural partner and are thrilled it's now official,” said DFSForecast Co-Founder and CEO Caleb Nelson. “We share the same data-driven approach to fantasy sports and betting. We can't wait to see how our tools add to FTN's already incredible ecosystem.” This acquisition is just one part of the burst of growth FTN Network has seen in 2023. Before the start of the 2023 football season, FTN Network announced it has signed Aaron Schatz, referred to as the founding father of football analytics, to a multi-year contract after partnering for his 2023 Football Almanac. FTN also launched “The Fantasy Football Show” on Sirius XMRadio earlier this year and has seen an incredible increase of web traffic across its network of sites. About FTN Network FTN Network is a data and entertainment network for fantasy sports and betting. Founded in 2020, FTN Network’s family of sites include Fantasy, Daily Fantasy (DFS), Betting and Data. The company has over 50 content contributors to serve the fantasy sports and betting needs of fans across key sports, including NFL, NBA, MLB, NHL, PGA, eSports, Racing and more. https://www.ftnbets.comAbout TechstarsThe Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas — entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations and cities to help build thriving startup communities. Techstars has invested in more than 2,500 companies with a combined market cap of more than $220B. https://www.techstars.com About DFSForecast DFSForecast is a leading player in the fantasy sports world, known for its Daily Fantasy Sports (DFS) Lineup Builders and Advanced Data Tools. Founded in 2018, DFSForecast uses a unique methodology that uses the characteristics of previous Milly Maker winners to build innovative, customizable and easy-to-use tools for fantasy sports players of all levels. DFSForecast is led by the trio of Caleb Nelson, Sam Vitello and Adam Lewis. Contact Details Sterling A. Randle +1 801-319-6153 srandle@hotpaperlantern.com

September 14, 2023 09:03 AM Eastern Daylight Time

Revenue Management Solutions Reveals Groundbreaking Comparisons to Pre-Pandemic QSR Performance

Revenue Management Solutions

First-half 2023 traffic is down by nearly 20% compared to 2019 Average check increases of more than 40% contribute to higher sales Revenue Management Solutions, a world leader in addressing profitability challenges for the restaurant industry, has unveiled groundbreaking insights with a comparative analysis of current Quick-Service Restaurant (QSR) performance with pre-pandemic levels. RMS compared sales, traffic and average check in the first halves of 2022 and 2023 to the same period in 2019, shedding light on how the extreme market forces of the past three years have affected the industry. “Most of the industry compares month-over-month or year-over-year data. For example, August 2023 traffic was down just half a percent compared to 2022,” said RMS Senior Vice President Richard Delvallée. “This approach reveals gradual changes but not the seismic shifts our comparisons indicate. The landscape has indeed changed for QSR and its customer base.” Not back to normal Standard indices suggest consumers have resumed pre-pandemic behavior. However, the RMS analysis found otherwise. Here are some key observations: QSR traffic is down nearly 20% (18.4%) when comparing June 2023 to June 2019, with traffic consistently trending downward since January 2022, when it was just 15.5% lower than 2019. Overall, QSR average check is 40% higher than pre-pandemic. Average check grew by 51% in specific dayparts. Consumer behavior has shifted permanently away from QSR dine-in. The channel lost nearly half of overall traffic in the past two years. Lunch traffic is consistently down by about 20%, likely due to hybrid work. Similarly, breakfast traffic took a nosedive in 2023 compared to last year. Performance by channel Performance is not created equal when comparing QSR channels. RMS’ analysis reveals a drastic shift towards drive-thru long after dining rooms reopened. Drive-thru: Traffic is down an average of 12% in 2023 compared to 2019. Net sales remain positive (+25%) due to steep increases in average check, which is up 42% for the year — jumping as high as 49.5% in January 2023. Drive-thru accounts for 2/3 of QSR revenue. Dine-in: Across 2023, dine-in traffic was down an average of 47%, finishing Q2 at a 43.6% loss. Average check growth was more conservative — up 36%, keeping net sales in negative territory (-25%). Takeout: Traffic is down an average of 36% in 2023 compared to 2019, with 42% average check growth and net sales down nearly 10%. “Pandemic dine-in restrictions forced a complete halt to dine-in,” said Delvallée. “As restrictions lifted, labor shortages forced operators to limit in-store service. Now, three years out, the convenience-driven behaviors adopted by guests remain and are being reinforced by improved drive-thru technology and operations.” Performance by daypart Daypart analysis further suggests dining behavior has not returned to “normal.” Average check growth of nearly 50% (47.5%) kept net sales positive for all dayparts, but traffic is significantly down. Breakfast: Traffic was down an average of 21.5% in 2023. Breakfast performed much better in 2022, when decreases were just 8% lower than in pre-pandemic 2019. Net sales remain positive (+16%). Lunch: Traffic is down an average of 18% for 2023 compared to 2019. Net sales are up an average of 18%, driven by a 45% growth in average check. Dinner: Traffic remained most stable but still experienced a decrease — down 15% across the first half of 2023. Net sales were up an average of 25%. Upcoming Pricing Pressure Price increases have been pivotal in sustaining QSR revenue, but how much can customers bear before breaking? When RMS surveyed over 1,000 US consumers, 31% reported spending less at restaurants. Among those consuming less, 1 in 2 are doing so by ordering less frequently from restaurants. “Going into the last quarter of 2023, operators have to be very surgical in their pricing strategy,” notes Delvallée. “This data will undoubtedly help restaurants adapt to the new landscape and enter 2024 stronger.” About Revenue Management Solutions Revenue Management Solutions specializes in delivering actionable insights and providing solutions that drive sales, streamline costs and maximize profitability. With a data-driven approach, RMS supports iconic brands and emerging concepts in over 40 countries, spanning more than 100,000 locations. For more information on how RMS helps executives and finance professionals in the restaurant industry overcome profitability challenges, visit revenuemanage.com. Contact Details Center Reach Communications Tracy Henderson +1 720-989-3530 tracy@centerreachcommunication.com Company Website https://www.revenuemanage.com

September 14, 2023 08:15 AM Eastern Daylight Time

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