Latest news with #KevinFitzgerald
Business Post
08-05-2025
- Business
- Business Post
Limerick-based Kneat Solutions reports €9.4 million in first quarter revenue
Tech Limerick-based Kneat Solutions reports €9.4 million in first quarter revenue Oisín Gaffey 12:57 Kneat Solutions co-founders Kevin Fitzgerald, Eddie Ryan and Brian Ahearne note 'solid start' to 2025. Image: Alan Place
Yahoo
07-05-2025
- Business
- Yahoo
Kneat Announces Record Revenue for First Quarter 2025
Also in May 2025, Kneat announced the expansion of its executive leadership team with the addition of a Chief Innovation Officer Role. Co-founder and Chief Product Officer Kevin Fitzgerald will transition out of his current role and into the Chief Innovation Officer role on June 9. Donal O'Sullivan, an executive with extensive software development and product management leadership, will join Kneat at that time as Chief Product Officer. In May 2025, Kneat saw record attendance at VALIDATE, its annual event convening validation and quality professionals from around the world. One of the world's largest events for validation experts to discover, share and apply validation technologies, regulations, and best practices, VALIDATE enabled participants to witness the power of the Kneat Gx platform. Also in January 2025, Kneat announced that a European-headquartered leader in specialty therapeutics selected Kneat for commissioning, qualification and validation of its manufacturing equipment and facilities. In January 2025, Kneat announced that it has partnered with Capgemini. The collaboration brings together Capgemini's expertise in enterprise IT systems integration with Kneat's digital validation platform, Kneat Gx. The partnership is designed to enable life sciences companies to seamlessly deploy Kneat Gx enterprise-wide; connect with core systems such as ERP, QMS, and DMS; and scale digital validation processes with ease. 1 ARR is a supplementary measure. EBITDA and Adjusted EBITDA are non-IFRS measures and are not recognized, defined or standardized measures under IFRS. These measures are defined in the 'Supplementary and Non-IFRS Measures' section of this news release. Adjusted EBITDA 1 in the first quarter of 2025 was $2.3 million, compared with $0.6 million for the first quarter of 2024. EBITDA 1 in the first quarter of 2025 was $5.9 million, compared with ($0.5) million for the first quarter of 2024. Gross margin in the first quarter of 2025 was 74%, as it was in the first quarter of 2024. SaaS revenue for the first quarter of 2025 grew 42% to $13.8 million, versus $9.7 million for the first quarter of 2024. Total revenues increased 37% to $14.7 million in the first quarter of 2025, compared to $10.8 million for the first quarter of 2024. 'Kneat is off to a solid start in 2025, both in terms of continued strong growth and progress toward profitability. We are encouraged by our customers' continued intention to orchestrate their validation processes enterprise-wide; and we are committed to enhancing the Kneat Gx platform to help them complete their vision for efficiency, speed and trust in their validation processes.' LIMERICK, Ireland, May 07, 2025 (GLOBE NEWSWIRE) -- inc. (TSX: KSI) (OTC: KSIOF) ('Kneat' or the 'Company') a leader in digitizing and automating validation and quality processes, today announced financial results for the three months ended March 31, 2025. All dollar amounts are presented in Canadian dollars unless otherwise stated. Story Continues 'Kneat closed the quarter with ample cash and a strong balance sheet. Our high-retention customer base continues to grow, and we remain confident in our financial outlook.' - Hugh Kavanagh, Chief Financial Officer of Kneat. Quarterly Conference Call Eddie Ryan, Chief Executive Officer of Kneat, and Hugh Kavanagh, Chief Financial Officer of Kneat, will host a conference call to discuss Kneat's first quarter of 2025 results and hold a Q&A session for analysts and investors via webcast on May 08, 2025, at 9:00 a.m. ET. Interested parties can register for the live webcast via the following link: Register Here Supplementary and Non-IFRS Financial Measures The Company uses supplementary financial measures as key performance indicators in its MD&A and other communications. Management uses both IFRS measures and supplementary, non-IFRS financial measures as key performance indicators when planning, monitoring and evaluating the Company's performance. Annual Recurring Revenue ('ARR') Kneat management use ARR to evaluate and assess the Company's performance, identify trends affecting its business, formulate financial projections and make financial decisions. The Company believes that ARR is a useful metric for investors as it provides a measure of the value of the recurring revenue at a point in time (end date of the relevant quarter). ARR is based on signed agreements and indicates the level of recurring revenue that the Company would anticipate reporting in a 12-month period based on the full agreed annual SaaS and maintenance fees for existing customers. In specific circumstances, the Company may utilize pricing incentives for limited contract periods. ARR is used by Kneat to assess the expected recurring revenues from the customers that are live on the Kneat Gx platform at the end of the period. ARR is calculated using the licenses delivered to customers at the period end, multiplied by the expected customer retention rate of 100% and multiplied by the full annual SaaS license or maintenance fee. Since many of the customer contracts are in currencies other than the Canadian dollar, the Canadian dollar equivalent is calculated using the related period end exchange rate multiplied by the contracted currency amount. Earnings before Interest, Taxes, Depreciation and Amortization ('EBITDA') EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization ('Adjusted EBITDA') Adjusted EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization, foreign exchange gain (loss) and stock-based compensation expense. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of Adjusted EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. About Kneat Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard. Cautionary and Forward-Looking Statements Except for the statements of historical fact contained herein, certain information presented constitutes 'forward-looking information' within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat's business development activities, the use and implementation timelines of Kneat's software within the customer's validation processes, the ability and intent of the customer to scale the use of Kneat's software within the customer's organization, our ability to win business from new customers and expand business from existing customers, our expected use of the net proceeds from the IPF Facility and the public equity financing completed in both February and October 2024 and the anticipated effects thereof on the business and operations of the company, and the compliance of Kneat's platform under regulatory audit and inspection. These and other assumptions, risks and uncertainties may cause Kneat's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements. Material risks and uncertainties relating to our business are described under the headings 'Cautionary Note Regarding Forward-Looking Statements and Information' and 'Risk Factors' in our MD&A dated May 7, 2025, under the heading 'Risk Factors' in our Annual Information Form dated February 26, 2025 and in our other public documents filed with Canadian securities regulatory authorities, which are available at Forward-looking statements are provided to help readers understand management's expectations as at the date of this release and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements. Kneat assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investor's own risk. For further information: Katie Keita, Kneat Investor Relations P: + 1 902-706-9074 E: Unaudited Condensed Interim Consolidated Statements of Income/(Loss) and Comprehensive Income/(Loss) Three-month period ended March 31, 2025 Three-month period ended March 31, 2024 $ $ Revenue SaaS license fees 13,805,973 9,718,501 Maintenance fees 22,095 70,589 Professional services and other 919,573 977,910 Total Revenue 14,747,641 10,767,000 Cost of revenue (3,823,145 ) (2,834,015 ) Gross profit 10,924,496 7,932,985 Gross margin 74% 74% Expenses Research and development (4,698,665 ) (4,045,548 ) Sales and marketing (5,116,477 ) (4,031,684 ) General and administrative (2,511,629 ) (2,105,589 ) Total Expenses (12,326,771 ) (10,182,821 ) Operating loss (1,402,275 ) (2,249,836 ) Finance expense (888,545 ) (867,451 ) Interest income 198,639 35,076 Foreign exchange gain (loss) 4,262,600 (238,763 ) Income (loss) before income taxes 2,170,419 (3,320,974 ) Income tax expense (24,430 ) (15,887 ) Net income (loss) for the period 2,145,989 (3,336,861 ) Other comprehensive (loss) income Foreign currency translation adjustment to presentation currency (1,998,521 ) 190,894 Comprehensive income (loss) for the period 147,468 (3,145,967 ) Earnings (loss) per share: Basic and diluted 0.02 (0.04 ) Weighted-average number of common shares outstanding: Basic 94,221,072 81,005,029 Diluted 97,738,261 81,005,029 Reconciliation: Net income (loss) for the period 2,145,989 (3,336,861 ) Finance expense 888,545 867,451 Interest income (198,639 ) (35,076 ) Income tax expense 24,430 15,887 Depreciation charge 177,001 191,221 Amortization of intangible assets charge 2,846,747 1,834,211 EBITDA 5,884,073 (463,167 ) Adjustments to EBITDA Foreign exchange gain/loss (4,262,600 ) 238,763 Stock based compensation 697,019 812,173 Adjusted EBITDA 2,318,492 587,769 inc. Unaudited Condensed Interim Consolidated Statements of Financial Position March 31, 2025 December 31, 2024 $ $ Assets Current assets Cash 74,132,378 58,889,572 Amounts receivable 10,958,849 18,377,009 Prepayments 2,081,208 1,870,095 87,172,435 79,136,676 Non-current assets Amounts receivable 3,544,947 2,368,006 Property and equipment 6,914,606 6,782,179 Intangible asset 39,158,433 36,290,869 Total Assets 136,790,421 124,577,730 Liabilities Current liabilities Accounts payable and accrued liabilities 9,080,206 8,580,104 Contract liabilities 31,037,419 21,631,416 Loan payable 5,122,755 4,116,723 Lease liabilities 386,207 434,096 45,626,587 34,762,339 Non-current liabilities Contract liabilities 42,339 33,393 Loan payable and accrued interest 18,384,423 19,038,203 Lease liabilities 5,800,955 5,671,952 Total Liabilities 69,854,304 59,505,887 Equity Shareholders' equity 66,936,117 65,071,843 Total Liabilities and Equity 136,790,421 124,577,730 inc. Unaudited Condensed Interim Consolidated Statement of Cash Flows Three-month period ended March 31, 2025 Three-month period ended March 31, 2024 Operating activities $ $ Net income (loss) for the period 2,145,989 (3,336,861 ) Charges to loss not involving cash: Depreciation of property and equipment 177,001 191,221 Share-based compensation 697,019 812,173 Interest expense 842,563 867,451 Tax expense 24,430 15,887 Amortization of the intangible asset 2,846,747 1,834,211 Amortization of loan issuance costs 45,982 36,957 Foreign exchange (gain) loss (4,262,600 ) 238,763 Increase in non-current contract liabilities 7,553 58,319 Net change in non-cash operating working capital related to operations 14,951,929 7,684,397 Net cash provided by operating activities 17,476,613 8,402,518 Financing activities Proceeds received from public equity financing - 20,000,110 Share issuance costs associated with public equity financing - (1,626,257 ) Payment of principal and interest on loans payable (1,348,282 ) (621,996 ) Proceeds from the exercise of stock options 774,591 641,700 Repayment of lease liabilities (192,894 ) (181,158 ) Net cash (used in)/provided by financing activities (766,585 ) 18,212,399 Investing activities Additions to the intangible asset (5,157,268 ) (4,515,850 ) Additions to property and equipment (62,917 ) (8,163 ) Collection of research and development tax credits 1,850,702 - Net cash used in investing activities (3,369,483 ) (4,524,013 ) Effects of foreign exchange rates on cash 1,902,261 164,519 Net change in cash during the period 15,242,806 22,255,423 Cash – Beginning of period 58,889,572 15,252,526 Cash – End of period 74,132,378 37,507,949
Yahoo
05-05-2025
- Business
- Yahoo
Kneat Expands Executive Leadership Team
Co-founder Kevin Fitzgerald Becomes Chief Innovation Officer as Donal O'Sullivan Joins as Chief Product Officer LIMERICK, Ireland, May 05, 2025 (GLOBE NEWSWIRE) -- inc. (TSX: KSI) (OTC: KSIOF) ('Kneat' or the 'Company') a leader in digitizing and automating validation and quality processes, today announced the expansion of its executive leadership team. As a product-led company that continues to scale for efficiencies and satisfy the growing demand from global customers, Kneat's innovation and product development are critical pillars for success. To optimise product operational excellence and strategic planning, Kneat is expanding its senior management team to provide the necessary strategic leadership, governance and cadence as it grows. In early June, Kevin Fitzgerald, Kneat co-founder and Chief Product Officer, will step out of his current role and not seek re-election to the Board of Directors to take on the newly created role of Chief Innovation Officer. This will enable Kevin to dedicate his focus and attention on the strategic vision and innovation of Kneat product, ensuring clarity of product definition and alignment of product requests and features to that vision. At that time, Donal O'Sullivan will join Kneat to fill the role of Chief Product Officer. Donal has more than 25 years' experience in software development leadership roles. Donal joins Kneat from My Compliance Office where he is currently acting as CPO. Prior to this, Donal served as Global Head of Analytics Product Management in PICO Ltd for four years, having previously served in Corvil for 18 years as Head of product Management and Director of Product Management. His responsibilities included leading the Product Management team, Product Marketing, Sales Enablement, Pricing and Bundling product, as well as managing the Corvil Portfolio to deliver significant growth. PICO, a provider of IT performance and operational analytics systems, acquired Corvil, and Donal successfully merged the best of Corvil's product capabilities with PICO's strong record of service delivery. 'Donal's varied and extensive software development and product management leadership experience will be hugely beneficial as we become a bigger company. With Donal on board and Kevin able to focus exclusively on developing the Kneat Gx platform to its full potential, we are better equipped to capture the exceptional opportunity in front of us today.' – Eddie Ryan, Chief Executive Officer of Kneat. About Kneat Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard. Cautionary and Forward-Looking Statements Except for the statements of historical fact contained herein, certain information presented constitutes 'forward-looking information' within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat's business development activities, the use and implementation timelines of Kneat's software within the customer's validation processes, the ability and intent of the customer to scale the use of Kneat's software within the customer's organization, our ability to win business from new customers and expand business from existing customers, our expected use of the net proceeds from the IPF Facility and the public equity financing completed in both February and October 2024 and the anticipated effects thereof on the business and operations of the company, and the compliance of Kneat's platform under regulatory audit and inspection. These and other assumptions, risks and uncertainties may cause Kneat's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements. For further information: Katie Keita, Kneat Investor RelationsP: + 1 902-706-9074E: in to access your portfolio
USA Today
22-02-2025
- Sport
- USA Today
Betting odds for Florida basketball at LSU Tigers on Saturday evening
Todd Golden and the Florida Gators head west to Baton Rouge on Saturday for an evening matchup with the LSU Tigers inside the Pete Maravich Assembly Center. With just hours remaining before the opening tipoff, here are the latest betting odds from BetMGM along with a prediction and information on how to watch the college basketball action. The Orange and Blue brings in a 23-3 overall record that has it second in the USA TODAY Sports Coaches Poll and AP Top 25 this week. Florida also remains a top seed in the West Region in all three major bracketologies. The Purple and Gold are hovering just above the .500 mark at 14-12 overall and just three wins in 13 tries against other SEC schools, but have won their last two games. LSU holds the lead in the all-time series dating back to 1947, 66-52. Florida vs LSU game odds: All college basketball odds via BetMGM as of 12:15 p.m. ET Saturday. Spread: 9.5 (Florida) Money Line: -475 / +360 Over-Under: 153.5 Florida vs LSU prediction, pick: It is hard to see Florida faltering against LSU, even if it is on the road in a hostile arena. Nonetheless, the Gators are hitting on all cylinders and barring any disaster should cruise to victory. Prediction: Florida 92, LSU 70 Florida vs LSU channel, start time, streaming: TV Channel: SEC Network Livestream:Fubo (free trial) Florida vs LSU will be broadcast nationally on the SEC Network on Saturday, Feb. 22. Kevin Fitzgerald and Jon Sundvold will call the game from the sidelines inside the Pete Maravich Assembly Center. Streaming options for the game include FUBO, which offers a free trial to new subscribers. Get more betting analysis and predictions at Sportsbook Wire. Follow us @GatorsWire on X, formerly known as Twitter, as well as Bluesky, and like our page on Facebook to follow ongoing coverage of Florida Gators news, notes and opinions.
USA Today
22-02-2025
- Sport
- USA Today
How to watch Florida basketball at LSU Tigers today: Time, TV channel, streaming options
How to watch Florida basketball at LSU Tigers today: Time, TV channel, streaming options Florida basketball hits the road on Saturday for an evening matchup with the LSU Tigers inside the Pete Maravich Assembly Center in Baton Rouge, Louisiana. If you want to watch the long-running Southeastern Conference rivalry on TV or live stream, the details you need to know are just below. The Gators sit second in the USA TODAY Sports Coaches Poll and AP Top 25 this week, the NET rankings and KenPom have them ranked fourth, and ESPN's Basketball Power Index at fifth as of Friday. Florida also remains a top seed in the West Region in all three major bracketologies. The Tigers are hovering just above the .500 mark at 14-12 overall and just three wins in 13 tries against other SEC schools. However, LSU has won its last two games and will have the home-court advantage on Saturday night. Watch Florida vs LSU live on Fubo (free trial) Here's how to watch the Florida vs LSU game today, including time, TV schedule, and streaming information: What channel is Florida vs LSU on today? TV Channel: SEC Network Livestream: Fubo (free trial) Florida vs LSU will be broadcast nationally on the SEC Network on Saturday, Feb. 22. Kevin Fitzgerald and Jon Sundvold will call the game from the sidelines inside the Pete Maravich Assembly Center. Streaming options for the game include FUBO, which offers a free trial to new subscribers. Florida vs LSU time today Date: Saturday, Feb. 22 Saturday, Feb. 22 Start time: 6 p.m. ET The Florida vs LSU game starts at 6 p.m. inside the Pete Maravich Assembly Center in Baton Rouge, Louisiana. Florida vs LSU predictions, picks Florida 92, LSU 70: It is hard to see Florida faltering against LSU, even if it is on the road in a hostile arena. Nonetheless, the Gators are hitting on all cylinders and barring any disaster should cruise to victory. Florida Gators 2024-25 schedule DATE OPPONENT TIME (ET) /RESULT Mon, Nov 4 vs South Florida * W, 98-83 Thu, Nov 7 vs Jacksonville W, 81-60 Mon, Nov 11 vs Grambling W, 86-62 Fri, Nov 15 @ Florida State W, 87-74 Tue, Nov 19 vs Florida A&M W, 84-60 Fri, Nov 22 vs Southern Illinois W, 93-68 Thu, Nov 28 vs Wake Forest * W, 75-58 Fri, Nov 29 vs Wichita State * W, 88-51 Wed, Dec 4 vs Virginia W, 87-69 Sat, Dec 14 vs Arizona State W, 83-66 Tue, Dec 17 vs North Carolina * W, 90-84 Sat, Dec 21 vs North Florida W, 99-45 Sun, Dec 29 vs Stetson W, 85-45 Thu, Jan 4 @ Kentucky L, 106-100 Sun, Jan 7 vs Tennessee W, 73-43 Thu, Jan 11 @ Arkansas W, 71-63 Sun, Jan 14 vs Missouri L, 83-82 Thu, Jan 18 vs Texas W, 84-60 Mon, Jan 22 @ South Carolina W, 70-69 Thu, Jan 25 vs Georgia W, 89-59 Thu, Feb 1 @ Tennessee L, 64-44 Sun, Feb 4 vs Vanderbilt W, 86-75 Thu, Feb 8 @ Auburn W, 90-81 Sun, Feb 11 @ Mississippi State W, 81-68 Thu, Feb 15 vs South Carolina W, 88-67 Sun, Feb 18 vs Oklahoma W, 85-63 Thu, Feb 22 @ LSU 6:00 PM Sun, Feb 25 @ Georgia 7:00 PM Fri, Mar 1 vs Texas A&M 8:30 PM Tue, Mar 5 @ Alabama 7:00 PM Fri, Mar 8 vs Ole Miss 6:00 PM * Game played at neutral location Follow us @GatorsWire on X, formerly known as Twitter, as well as Bluesky, and like our page on Facebook to follow ongoing coverage of Florida Gators news, notes and opinions. We occasionally recommend interesting products and services. If you make a purchase by clicking one of the links, we may earn an affiliate fee. USA TODAY Network newsrooms operate independently, and this doesn't influence our coverage.
