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Hong Kong Approves Bitcoin (BTC) and Ethereum (ETH) ETFs While New Token Surges 290%

Kangamoon

Hong Kong recently approved spot Bitcoin (BTC) and Ethereum (ETH) exchange traded funds (ETFs) applications. Specifically, the region has become the second to do this in 2024 so far, following the SEC’s decision to approve 11 spot BTC ETFs in the United States. While all of this is happening, the KangaMoon ( KANG ) presale has seen major upwards momentum and could soon reach far more substantial gains, fueled by its unique Social-Fi model and community-driven approach. By the end, we will see which one is the best crypto to invest in now. Bitcoin (BTC) Grows 117.4% YTD – Price to Reach $96,062 by Q4 Bitcoin (BTC) has seen a year-to-date (YTD) climb of 117.4%. In addition, during the past week, the price of Bitcoin has moved up from $62,697.49 to a maximum value at $72,199.54. ThE Bitcoin price USD has since found support at the $66,000 level, and needs to break above $73,737.94 in order to reach a new all-time high point. As a result, sentiment on the future of the BTC crypto is currently massive, and many are speculating that it can reach far more substantial gains in 2024. According to the Bitcoin price prediction, it can end 2024 at $96,062. Ethereum (ETH) Spikes 54% YTD – Is Further Growth Possible? Ethereum (ETH) has also showcased dominant on-chart performance during the past year and has the potential to reach new heights. The Ethereum price USD has seen an increase of 54% year-to-date (YTD), and is now heading further upwards. During the past week, the price of Ethereum has surged from $2,936 to $3,715, and could soon break even above the $4,000 price barrier. According to the RSI and MACD data, its price outlook is bullish, and based on the Ethereum price prediction, it can end 2024 at $4,428. KangaMoon (KANG) Introduces Social-Fi, P2E and a Community-Driven Approach KangaMoon (KANG) has seen an increased upwards momentum fueled by the optimistic outlook for its ecosystem and the overall unique and rich feature-set. Specifically, on top of this project, anyone will be able to access Social-Fi features, a community-driven approach and Play-to-Earn (P2E) mechanics. The KangaMoon platform has stood out by enabling anyone to take control of their own KangaMoon character through which they can, later-on, make upgrades and compete in tournaments and other battles. By doing so, they earn NFTs and NFTs. There are over 20,000 registered accounts even during the blockchain ICO, and over 5,800 users now hold the KANG token. In addition, the crypto has risen by 90%, where it moved from $0.005 to $0.0196. It raised $4.9 million and could break above $5.5 million raised by the end of the week. According to projections by analysts, the KANG token can rise by 100x following the project’s official launch, positioning KANG as the best new crypto to invest in. Summary Following the approval of Bitcoin and Ethereum ETFs from Hong Kong, it's clear that both cryptocurrencies now have even further growth potential. In the meantime, many have begun to diversify their holdings with the KangaMoon cryptocurrency, as it could soon provide them with significant ROI, making it the best new crypto to invest in. Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today! Website: https://KangaMoon.com/ Join Our Telegram Community: https://t.me/KangaMoonofficial Integrating GameFi and Play To EarnEmbark on your quest for glory. Assemble your champions, engage in epic battles or bet on your favorite fighters to earn $KANG tokens and exclusive rewards. Gain control of rare NFTs, unlock exclusive content and build alliances with fellow gamers as you ascend the ranks and leaderboards. Disclaimer: The following disclaimer is important to read and understand before engaging with Kangamoon, a play-to-earn meme coin. By accessing or participating in any activities related to Kangamoon, you acknowledge and accept the terms outlined below: 1 No Financial Advice: This whitepaper and any associated content do not constitute financial advice, investment recommendations, or solicitation to purchase Kangamoon tokens. The information provided is for informational purposes only. It is your responsibility to conduct thorough research and seek professional advice before making any financial decisions. 2 Volatility and Risks: Cryptocurrencies, including Kangamoon, are volatile and subject to significant price fluctuations. Investing in or holding Kangamoon tokens involves substantial risks, including the possibility of total loss. Past performance is not indicative of future results. 3 Regulatory Compliance: The regulatory environment surrounding cryptocurrencies is evolving and varies across jurisdictions. It is your responsibility to ensure compliance with applicable laws and regulations in your country or region before engaging with Kangamoon. 4 Uncertain Market: The market for meme coins and play-to-earn platforms is highly speculative and subject to rapid changes. There is no guarantee of market demand, liquidity, or utility for Kangamoon tokens. Token values may fluctuate drastically and may not reflect the intrinsic value of the project. By continuing to engage with Kangamoon, you acknowledge and accept the risks and limitations outlined in this disclaimer. You should only participate if you fully understand and are willing to assume these risks. Contact Details Kangamoon marketing@kangamoon.com Company Website https://kangamoon.com/

April 19, 2024 07:31 AM Central Daylight Time

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Super League Enterprise (NASDAQ: SLE) Q4 And FY2023 Earnings: Record Quarterly Revenues Achieved, Annual Net Loss Narrowed

Benzinga

By Austin DeNoce, Benzinga Super League Enterprise (NASDAQ: SLE) is a pioneer in immersive marketing and commerce in 3D web, and its latest earnings results highlighted a pivotal year, setting new records for revenue while reinforcing its balance sheet and enhancing operational efficiency. In a letter to shareholders, the company outlined its fiscal fourth quarter and full-year 2023 financial performance, its strategic accomplishments and its vision for future growth. Fourth Quarter Financial Performance Revenue: Super League achieved a quarterly record with revenues reaching $9.5 million, a 34% increase year-over-year. Partnerships: The company served over 100 brands and IP owners, launching 11 custom builds with peak engagement times of up to 30.5 minutes, integrating 15 custom experiences in popular platforms like Roblox (NASDAQ: RBLX), Minecraft (NASDAQ: MSFT) and Fortnite, and generating over 330 million visits. Media Campaigns: Media campaigns across these platforms exceeded 180, with significant visibility across digital and OTT channels supported by 340 pieces of video content. Fiscal Year 2023 Financial Performance Annual Revenue: The year's total revenue of $25.1 million represents a 27% increase from 2022, propelled by substantial gains in publishing and content studio revenues. Cost of Revenue: Fiscal 2023 saw the company’s cost of revenue increase to $15.3 million, up 37% from the previous year, reflecting the scale of Super League's custom integration projects. Net Loss: Despite the revenue growth, Super League recorded a net loss of $30.3 million for the year, an improvement over the previous year's $85.5 million loss, indicating significant strides in operational efficiency and cost management. Strategic Initiatives And Market Positioning In 2023, Super League continued to tap into the burgeoning interest of Generations Z and Alpha in immersive platforms, catering to the nuanced preferences of younger audiences largely through personalized in-game and social media engagement. This strategic approach has allowed Super League to secure relationships with over 100 brands and execute significant contracts, such as a nearly $4 million deal with Kraft Lunchables. “The record revenues, fortified balance sheet, and leaner cost structure we created positioned 2023 to be a foundational year for Super League,” said Ann Hand, Super League CEO. “Our roadmap and team are perfectly aligned to meet a growing demand among brands and advertisers for sizable presences in immersive marketing channels –- and the work we accomplished for over 100 top brands proves we are doing it." The company has also pushed engagement with artificial intelligence to streamline creative development and operational workflows, further highlighting its commitment to leveraging cutting-edge technology. Additionally, Super League's strategic focus on co-creation platforms like Roblox and tools and services to help brands unlock the value of new initiatives like the Unreal Editor for Fortnite underscore its expertise in digitally native consumer behaviors. Super League seems well-positioned for the increasingly larger audiences meeting brands in immersive digital worlds. With immersive experiences becoming the new frontier for brand engagement, these efforts collectively underscore Super League’s strengthening position in the advertising market. Future Growth Prospects Super League's operational enhancements in 2023 set the foundation for its future. The company has not only increased the average size of its deals – approaching the $400,000 range – but also maintained a 70%+ repeat buying rate, demonstrating the strength and potential for growth in its operational leverage. Commercially, the company is expanding its reach in Fortnite through a partnership with Chartis, which has a large network of independent developers that offers unique opportunities for brand integrations in Fortnite. Super League has also been involved in launching Boombox on Roblox, a platform allowing music labels to monetize their content. Moreover, it recently partnered with GSTV to deliver targeted entertainment at fuel stations, creating a new advertising revenue stream. Finally, its partnership with Common Sense Networks, a leader in age-appropriate content moderation, is enhancing its ability to safely engage young audiences globally. The Takeaway Overall, 2023 was a year of significant achievements and growth for Super League, underscored by its record revenues, strategic partnerships and improvements to its operational efficiencies. As the company continues to push forward in the immersive entertainment and advertising industry, its focus on innovation, brand engagement and market positioning seem to be setting a solid foundation for sustained growth and profitability. Featured photo by Erik Mclean on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 19, 2024 08:30 AM Eastern Daylight Time

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David LaValle Discusses Grayscale’s Future of Finance ETF and Bitcoin’s Evolving Role

HANetf

Global Head of ETF for Grayscale David LaValle joined Steve Darling from Proactive to discuss the performance and achievements of the Grayscale Future of Finance ETF (GFOF) in recent months. LaValle provided insights into GFOF's performance, which has seen approximately an 8% increase over the past month, surpassing benchmarks such as the S&P 500 and NASDAQ 100. He attributed this success to the strategic positioning of GFOF, likening it to investing in internet infrastructure in 1998. LaValle emphasized that GFOF focuses on digital assets' infrastructure, despite uncertainties surrounding specific winners in the space. Holdings in companies like Coinbase and other mining companies have contributed significantly to GFOF's performance. He underscored the importance of recent developments in the digital asset space, such as the introduction of Bitcoin ETFs in the U.S. and the uplisting of Grayscale Bitcoin Trust, which have expanded discussions with financial professionals and wealth managers about integrating digital assets into portfolios. Addressing the evolving perception of Bitcoin, LaValle noted its recognition as a volatile yet increasingly accepted asset class. He discussed Bitcoin's potential roles in investment portfolios, ranging from being viewed as a disruptive technology to serving as a digital store of value, akin to digital gold or exposure to high-growth tech. Overall, LaValle expressed optimism about the future of GFOF and digital assets in general, highlighting their potential to play a significant role in diversified investment portfolios. As Grayscale continues to navigate the dynamic landscape of digital assets, investors can anticipate further innovations and opportunities for growth in the future. Stay tuned for more updates as Grayscale continues to lead the way in the digital asset investment space. Contact Details Proactive United States +1 347-449-0879 action@proactiveinvestors.com

April 19, 2024 08:00 AM Eastern Daylight Time

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Wormhole Foundation Awards Contributor Grant to Supranational for Wormhole ZK Hardware Acceleration

Wormhole Foundation

Wormhole Foundation, steward of the Wormhole interoperability platform, today announced the awarding of a Contributor Grant to Supranational, a renowned innovator in hardware-accelerated cryptography. The collaboration between Supranational and Wormhole contributors aims to enhance the Wormhole protocol's efficiency and security through ZKP hardware acceleration. This partnership focuses on reducing time and costs associated with creating 'light-client' proofs, crucial for trustless transfers between blockchains. Supranational will leverage its CPU and GPU acceleration expertise to minimize proof generation latency, enhancing Wormhole ZK's cross-chain interactions. “We're excited to team up with Supranational to continue increasing security and trustlessness in the Wormhole platform,” said Dan Reecer, Wormhole Foundation Co-Founder & Chief Operating Officer. “By accelerating zero-knowledge proofs through hardware, we're not only boosting efficiency and security but also laying the groundwork for faster scaling to support more blockchain connections for Wormhole.” Supranational designs and develops hardware-accelerated cryptography for verifiable and confidential computing. The team has decades of experience in algorithmic optimization, and their work spans across CPU, GPU, FPGA, and ASIC computing platforms. In particular, the team is focused on developing open source, permissively-licensed, and production-grade cryptographic libraries. One of the most well-known examples of these libraries is blst, a high-performance and high-assurance implementation of BLS signatures. This library is currently used by blockchain networks, including Ethereum, Optimism, Aptos, Sui, and more. Blockchain protocols leverage this library to help them securely scale their consensus protocols and the library currently helps to secure over $100B of assets. In addition to their work on the cryptography powering consensus and asset management, Supranational also develops hardware acceleration for emerging cryptographic techniques such as zero-knowledge proofs (ZKPs). For example, their open source library, sppark, is used to accelerate the core primitives of SNARKs and STARKs with high-performance GPU implementations. This library is currently used by the Filecoin protocol and helps to generate over 75% of the ZKPs in the blockchain space. In addition to Filecoin, the library is also used by other leading verifiable and privacy preserving protocols such as Aleo, Risc0, and more. About Wormhole Foundation Wormhole Foundation is the steward of Wormhole - the world’s first generalized messaging protocol. Our mission is to empower passionate people in the research and development of blockchain interoperability technologies. Through grants, research, and ecosystem programs, we seek to enable teams to build secure, open-source, and decentralized products within the Wormhole ecosystem. If you’re interested in helping achieve our mission, contact us at hello@wormhole.foundation. About Supranational Supranational designs and develops hardware accelerated cryptography for verifiable and confidential computing. The team has decades of experience in algorithmic optimization across CPU, GPU, FPGA, and ASIC platforms. Accelerated cryptography developed by Supranational is currently in production in blockchain networks such as Ethereum, Optimism, Filecoin, Aptos, Sui, Chia, and more. For more information, visit https://www.supranational.net/ or e-mail hello@supranational.net. Contact Details Wahaj Khan +1 630-935-7684 wahaj@dittopr.co Company Website https://wormhole.com/

April 18, 2024 10:00 AM Eastern Daylight Time

Cordiant Digital Infrastructure targets future growth with innovative tech investments

Cordiant Digital Infrastructure Ltd

Cordiant Capital CEO and managing partner Benn Mikula provides insight into the evolving landscape of digital infrastructure, underlining the significant impact of social and technological changes. Through Cordiant Digital Infrastructure Ltd (LSE:CORD), Cordiant Capital invests in the essential components of the internet’s infrastructure, including fibre optic cabling, mobile towers, and data centres, which Mikula describes as the internet's "plumbing". These elements are integral to the transmission of data across an international network. Despite the complex and energy-intensive nature of this infrastructure, it facilitates global communication, exemplified by the potential routing of the interview through a data centre in New York. Mikula highlights several trends affecting digital infrastructure: the need for expansion due to network congestion and regulatory impacts, the installation of 5G technology requiring denser network coverage, and the surge in demand for advanced data centres driven by artificial intelligence. Cordiant Digital Infrastructure’s approach to investment is a "buy, build and grow" strategy, focusing on acquiring platforms with existing customers and expanding them, often pre-leased to reputable or governmental clients. The company successfully deployed its initial fund and plans to raise a second, targeting high-growth opportunities within digital infrastructure. Mikula also discusses innovative solutions to contemporary challenges, such as leveraging existing sites for new data centres to minimise environmental impact and investing in renewable energy sources. Looking forward, Cordiant Digital Infrastructure sees continued investment potential in towers, edge data, interconnect data centres, and backbone fibre networks, particularly in Europe and the United Kingdom, where the middle market offers attractive entry points and investment returns. Contact Details Proactive UK Proactive UK +44 20 7989 0813 UKEditorial@proactiveinvestors.com

April 18, 2024 08:48 AM Eastern Daylight Time

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accesso CEO unveils massive 2023 wins and plans for more growth

Accesso Technology Group PLC

Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) chief executive Steve Brown discussed the company's strong 2023 performance with Proactive's Stephen Gunnion. The year was marked by significant achievements including surpassing profitability targets and attaining nearly $150 million in revenue. Key developments included three strategic acquisitions aimed at expanding the company’s global footprint. These acquisitions introduced new opportunities with companies like VGS in Milan and Paradocs in Canada, enhancing Accesso's market presence. In 2023, accesso secured 28 new venues and expanded its services to 273 additional venues through these acquisitions, which also incorporated 50 ski resorts in Canada, making it the largest provider of ski technology in North America. The company's growth drivers included increased sales penetration and transaction counts across existing venues. Looking ahead, Brown highlighted accesso's focus on improving profit margins by enhancing revenue efficiency and scrutinising low-margin revenue streams. Furthermore, the company has recently made a significant entry into the Saudi Arabian market through a partnership, building on the acquisition of VGS, which has been rebranded as Accesso Horizon. Brown also discussed the launch of 'Freedom', a new platform for restaurant and retail operations, which has already seen considerable uptake. For 2024, Brown mentioned the possibility of more acquisitions, supported by a strong balance sheet and cash position. The company forecasts revenues of around $160 million with a cash EBITDA margin of 17%, anticipating another robust year. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

April 18, 2024 08:35 AM Eastern Daylight Time

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Learning Technologies reports steady performance amid economic challenges

Learning Technologies Group PLC

Learning Technologies Group PLC chief executive Jonathan Satchell takes Proactive's Stephen Gunnion through the company's 2023 financial results, which reveal a slight revenue decline but rising profitability. Despite the economic challenges, the company maintained strong cash flow and increased its dividend by 5% to 1.2 pence. Satchell highlighted the resilience of the company's long-term and SaaS contracts, which helped sustain performance amidst reduced corporate spending on employee development. Operational achievements included retaining all client contracts above $10 million. The company saw some revenue declines due to reduced discretionary spending but reported growth in US government contracts and expansions in Latin America and the Middle East. Another highlight was GP Strategies, which has more than doubled profits since it was acquired in 2021, benefiting from a commercial transformation program that improved margins without impacting customer service. Satchell also noted the sale of Lorien Engineering, aligning with the company's focus on learning and talent development. This strategy, alongside prudent financial management, positioned the company well in the tough economic climate. For 2024, the company anticipates revenues similar to 2023, with continued emphasis on acquisitions and leveraging AI in learning tools to enhance operational efficiency and data insights. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

April 18, 2024 08:31 AM Eastern Daylight Time

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From Providing Cutting-Edge AI Traffic Management Tech To Helping Manage It – Iteris Could Be Key Ally For Government Agencies Revolutionizing America’s Roadways

Benzinga

By Austin DeNoce, Benzinga Urban mobility and the network of traffic management solutions underpinning it, face several challenges, ranging from traffic signal inefficiencies to safety risks. Put simply, the current roadway system is largely outdated. Amid this landscape, the infrastructure management company Iteris Inc. (NASDAQ: ITI) is bringing the American transportation system into the modern age through smarter, safer and more sustainable urban mobility solutions. The company’s suite of technologies and domain expertise are helping enhance traffic flow, increase road safety and minimize carbon emissions. One of the most exciting ways Iteris is accomplishing this is through its expertise in signal performance. The Advantages Of Improving Signal Performance Optimizing traffic signal performance yields substantial benefits across multiple areas of urban mobility. By honing signal timing and coordination, Iteris says it can help significantly mitigate traffic congestion to enhance the overall flow of traffic. This would directly contribute to heightened road safety because well-optimized signals can reduce the frequency and severity of intersection-related accidents. Smoother traffic flow also translates into less stop-and-go driving, which in turn lowers vehicle emissions. Such advancements are significant in the push toward sustainable urban environments, where air quality and carbon footprint are a growing concern. Overall, Iteris' initiatives in signal performance optimization embody a holistic approach to addressing speed and safety challenges related to urban traffic, while also leading to major reductions in emissions. ClearGuide And Signal Trends The recent introduction of Iteris’ ClearGuide Signal Trends marked a pivotal advancement in traffic light management technology. Utilizing data from cloud-connected vehicles, Signal Trends identifies issues at traffic signals without the need for additional hardware, streamlining the process for traffic managers to locate and address malfunctions swiftly. This innovation not only accelerates improvements – leading to reduced wait times for drivers and overall satisfaction – but also integrates seamlessly with existing Iteris tools to bolster traffic flow efficiency. By leveraging anonymized vehicle data, Signal Trends offers a comprehensive overview of traffic light performance across various regions. This capability aims to ensure that cities can proactively address signal-related delays and prioritize repairs or adjustments based on real-time data, bypassing traditional, costly data collection methods. With its nationwide application, Signal Trends aims to provide significant enhancement in traffic management strategies, fostering a smoother and safer driving experience. Support For Transportation Agencies Iteris also focuses on delivering managed services that utilize its cutting-edge technology, including its proprietary ClearGuide software, to enhance traffic flow and safety across urban landscapes. By monitoring and analyzing traffic data, Iteris’ congestion management service proactively spots and rectifies traffic-related issues, thereby mitigating congestion and facilitating smoother, safer commutes. This approach is particularly relevant during highway construction projects, where it ensures optimal traffic signal timing and uninterrupted traffic flow. Beyond congestion management, Iteris aids transportation agencies in managing their technology assets, improving the performance and reliability of traffic sensors and signals. Significant contracts such as a $6 million agreement with the Illinois Department of Transportation and a $9.6 million deal with the Orange County Transportation Authority underscore Iteris' ongoing role in elevating urban mobility by refining traffic signal timing with the aid of ClearGuide technology. These partnerships highlight Iteris’ commitment to advancing safety, efficiency and sustainability across regions, as well as the growing demand for its solutions. Successful implementations in regions like Lake Forest, CA, Arizona and Southern California further highlight Iteris' dedication to fostering smart mobility solutions nationwide. In fact, Iteris even provides consulting services to assist agencies in crafting strategic plans for signal timing optimization. Together, these initiatives make Iteris a key ally for agencies in potentially transforming traffic management practices and endorsing safer, more efficient transportation systems nationwide. Leading The Way In Smart Mobility Solutions Iteris continues to redefine the limits of traffic management through its ongoing innovation and dedication to improving urban mobility. By integrating advanced technologies like ClearGuide Signal Trends with its managed and consulting services, Iteris says it is addressing today's traffic challenges while paving the way for the future of smart mobility solutions. The company has a clear vision of safer, more efficient and sustainable traffic systems worldwide and a robust portfolio of services to back it up. Featured photo by Mark Boss on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 18, 2024 08:30 AM Eastern Daylight Time

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FiscalNote (NYSE: NOTE) Strategic Review In Focus As Board.org Divested For $103 Million Or 7x Sales, Company Surpasses Adjusted EBITDA Guidance

Benzinga

By Austin DeNoce, Benzinga FiscalNote (NYSE: NOTE) is a leading provider of policy and global intelligence insights that operates through a blend of data and technology. The company was founded in 2013 and has been at the forefront of offering essential tools and insights for strategic decision-making ever since. FiscalNote has a global presence catering to an extensive client base, including names like CQ, FrontierView, Oxford Analytica and VoterVoice. The company recently shared its fourth-quarter and full-year financial results that shed more light on its performance and the direction it is headed in 2024. Strategic Review Following the announcement of FiscalNote’s formation of a Special Committee in November and receipt of inbound interests, the Board along with their advisors commenced a strategic review process to evaluate all strategic options available to the company. Strategic reviews aim to maximize shareholder value. Fourth Quarter Financial Highlights FiscalNote's financial performance in the fourth quarter showcased its growth trajectory toward profitability. The company reported a 9% increase in revenue totaling $34.3 million, which was largely driven by its proprietary Security Intelligence and Analysis Service (SIAS) subscription platform and in line with its November 2023 guidance. The company also reported a gross profit of $28.3 million with a gross margin of 83% on a non-GAAP basis. Adjusted EBITDA was $3 million, surpassing the guided figure of approximately $2.5 million and marking a 157% year-over-year increase from a loss of $5.2 million in the fourth quarter of 2022. FiscalNote reported a GAAP net loss of $51 million for the quarter, which represented an improvement over the previous year. Other operational metrics for the fourth quarter included a 10% increase in run-rate revenue to $140 million, with organic run-rate revenue rising 4% to $130 million. Meanwhile, annual recurring revenue increased by 11% to $126 million, with organic ARR of $119 million; a 6% increase. Finally, the revenue retention rate for the quarter was 99%. Full-Year 2023 Results And Highlights In 2023, FiscalNote reported a 17% increase in revenue to $132.6 million, largely fueled by an 18% increase in subscription revenue, which accounted for 90% of the total. Although the company recorded a net loss of $115.5 million for the year, this was partly due to $72.8 million in net non-cash items – expenses like depreciation and stock-based compensation that don't involve actual cash outflow. The company also narrowed its adjusted EBITDA loss to $7.5 million from a $24.5 million loss in 2022. In terms of operational highlights, FiscalNote took meaningful steps to solidify its leadership in global policy and market intelligence, achieving milestones such as securing contracts with major U.S. and global brands, expanding its public sector footprint and enhancing partnerships with influential trade associations and advocacy groups. The company also focused on operational efficiency, implementing a cost reduction plan that saved approximately $25 million. Significant strategic initiatives for the year included collaborations with OpenAI and other tech giants, the expansion of its global policy coverage to over 80 countries and the acquisition of Dragonfly, a provider of geopolitical intelligence. FiscalNote launched AI products to enhance policy and risk management workflows, expanded its patent portfolio and received several awards for its SaaS solutions. Sale Of Board.org In addition to its financial results, another significant development from FiscalNote was its sale of the peer-to-peer executive community platform Board.org to Executive Platforms for total consideration of $103 million, including $95 million in cash. Board.org was a non-core, separately run business from FiscalNote. The transaction allows FiscalNote to significantly deleverage its capital structure by reducing senior debt and it highlights the significant value implied by the look-through multiple from Board.org. CEO Tim Hwang said it was a demonstration of FiscalNote's undervaluation in public markets and its ability to deploy capital and drive returns. The sale of Board.org represented roughly 10% of FiscalNote's full-year 2023 revenue and was executed as a strategic step to concentrate on its core expertise in policy, regulatory and geopolitical intelligence as it further expands its AI-enabled intelligence solutions. FiscalNote's March Forward FiscalNote's recent financial results and the strategic sale of Board.org illustrate the company's ongoing efforts to optimize its operations and focus on its core competencies. By streamlining its product strategy and strengthening its balance sheet, FiscalNote argues that it is positioning itself for sustainable growth and continued innovation in the policy and global intelligence sectors. As the company moves forward, it remains committed to leveraging AI and technology to provide actionable insights, with a clear focus on enhancing profitability and operational efficiency. Featured photo by Aditya Joshi on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 18, 2024 08:25 AM Eastern Daylight Time

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