Latest news with #MoneyLion
Yahoo
29-05-2025
- Business
- Yahoo
More Than One-Third of Americans Are Skipping a Summer Vacation This Year — Should You?
Many Americans are putting the brakes on summer vacation this year amid a mix of troubling financial news, ranging from recession fears and stock market volatility to rising consumer prices. Trending Now: Read Next: More than one-third (38.6%) of Americans surveyed by finance app MoneyLion say they're not taking a vacation at all this summer. Similar results were unveiled in a recent survey from Deloitte, which found that 43% of travelers are not traveling this summer — up slightly from 42% in 2024. Find out below what's driving this decision and whether you should skip a summer vacation, as well. Also, if you do decide to travel, here are some ways to make summer travel more affordable. Financial concerns are driving the decision to skip summer vacation this year. According to MoneyLion, 'essentials and experiences are in — lavish trips and impulse buys, not so much.' Below are some of the survey findings in terms of what Americans are spending money on when they do open their wallets. Bills and basics: 40.2% of respondents Travel and getaways: 28.2% of respondents Food and BBQs: 21.2% of respondents When it comes to which expenses Americans plan to cut back on, below were the two leading areas. Shopping: 30.8% of respondents General spending: 27.6% of respondents Discover Next: Deciding whether you should skip summer vacation this year depends on a variety of factors, including your financial situation, job status and family size. But no matter your personal situation, you're probably seeing a rise in prices across several different categories. Overall inflation in April rose 0.2% from the previous month and 2.3% from the previous year, according to data from the U.S. Bureau of Labor Statistics. Food prices across all categories climbed 2.8% year-over-year, while shelter prices increased 4%. There is some good news for travelers, however — including lower gasoline prices. The average national price for gas was $3.174 a gallon as of May 27, according to AAA. That was slightly higher than a month earlier but well down from $3.591 the prior year. Prices in other travel categories have declined as well, according to the U.S. Travel Association. It found that average airline fares in April fell 7.9% from the previous year, while average hotel or motel prices decreased 2.4%. More From GOBankingRates 5 Types of Cars Retirees Should Stay Away From Buying How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on More Than One-Third of Americans Are Skipping a Summer Vacation This Year — Should You? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
Chalk Raises $50M Series A to Power AI Inference
SAN FRANCISCO--(BUSINESS WIRE)--Chalk, the data platform for AI inference, announced today that it has raised a $50 million Series A at a $500 million valuation. The round was led by Felicis with participation from Triatomic Capital and existing investors General Catalyst, Unusual Ventures, and Xfund. Aydin Senkut, Founder and Managing Partner at Felicis, will join Chalk's board. The capital will be used to accelerate development of Chalk's platform, onboard new customers, and grow its engineering and go-to-market hubs in San Francisco and New York. 'Chalk helps us deliver financial products that are more responsive, more personalized, and more secure for millions of users. It's a direct line from infrastructure to impact,' said Meng Xin Loh, Senior Technical Product Manager, MoneyLion. Share As AI adoption accelerates, compute is shifting from training to inference to improve predictions, transform customer experiences, and reduce costs. Existing solutions like Databricks and Snowflake solve training data pipelines, and feature stores provide low-latency access to pre-computed data. But these incumbents don't provide a solution for applications that require fresh data, with complex computation, at inference time. Chalk fills a critical gap in the market – inference data pipelines. Chalk's real-time data platform enables customers to make predictions with fresh data at inference time to prevent identity theft, issue instant loans, increase clean energy efficiency, and moderate harmful content. Senkut shared, 'Chalk is poised to become the Databricks of the AI era. It's one of the fastest-growing data companies we've ever seen. The team has fundamentally redefined how data moves through the AI stack, a crucial advancement for chain-of-reasoning models. What's even more remarkable is Chalk's ability to deliver 5-millisecond data pipelines at massive scale - something that, until now, was considered out of reach. We couldn't be more excited to partner with Marc, Elliot, and Andy, who are all repeat technical founders passionate about building infrastructure that delivers an incredible developer experience.' Marc Freed-Finnegan, Chalk Co-Founder and CEO, added, 'We feel incredibly fortunate to have Aydin and Felicis as our partners for the next phase of our growth. We have a shared vision of the future, and we're honored to be part of the cohort of companies they have invested in.' Chalk powers real-time ML across industries including fintech, identity, healthcare, and e-commerce. Companies like Whatnot, Found, Medely, and Iwoca use Chalk as a core infrastructure layer across their business. 'Chalk helps us deliver financial products that are more responsive, more personalized, and more secure for millions of users. It's a direct line from infrastructure to impact,' said Meng Xin Loh, Senior Technical Product Manager, MoneyLion. Chalk has become critical infrastructure for its customers by enabling teams to rapidly operationalize machine learning and AI. At its core, Chalk's Compute Engine empowers teams to write features in pure Python, automatically translating them into high-performance C++ and Rust pipelines to deliver real-time data without complex ETL. Additionally, Chalk's LLM Toolchain unifies structured and unstructured data, offering native vector storage, automated evaluations, and seamless integrations with major LLM providers. Rahul Madduluri, CTO at Doppel, said, "Chalk powers our LLM pipeline, turning complex inputs — HTML, URLs, screenshots — into structured, auditable features. It lets us serve lightweight heuristics up front and rich LLM reasoning deeper in the stack, so we detect threats others miss without compromising speed or precision.' Chalk was co-founded by Freed-Finnegan, Elliot Marx, and Andrew Moreland — veterans of fintech and data infrastructure. After meeting at Stanford, Marx and Moreland solved large-scale data problems at Affirm and Palantir before co-founding Haven Money, acquired by Credit Karma. Before Chalk, Freed-Finnegan helped launch Google Wallet and started Index, acquired by Stripe (it's now called Stripe Terminal). Across these ventures, the team saw how real-time data pipelines enabled entirely new product categories and business models. Fast forward to today — real-time decisions at inference are essential for all modern applications, and Chalk makes that possible. About Chalk Chalk is the data platform for inference, providing critical infrastructure that empowers teams to rapidly operationalize machine learning and AI. The developer-friendly platform consists of a Compute Engine that automatically compiles features into high-performance Rust pipelines without complex ETL, and an LLM Toolchain that seamlessly unifies structured and unstructured data. Chalk powers real-time, low-latency machine learning for the world's leading companies, enabling instant loans, fraud prevention, personalized recommendations, and even clean energy optimization. Founded in 2022 and headquartered in San Francisco, Chalk has raised over $60M from Felicis, General Catalyst, Triatomic Capital, Unusual Ventures, and Xfund. To learn more about Chalk, visit
Yahoo
15-05-2025
- Business
- Yahoo
Gen Announces Board Transitions, Welcomes John Chrystal as Peter Feld Departs
TEMPE, Ariz. and PRAGUE, May 15, 2025 /PRNewswire/ -- Gen Digital Inc. (NASDAQ: GEN), a global leader dedicated to powering Digital Freedom, today announced the departure of Peter Feld from its Board of Directors, following his impactful tenure that began in 2018. With this departure, Gen welcomes John Chrystal, former member of MoneyLion's Board of Directors, who joins the Gen Board as the Company accelerates its innovation and focus on financial wellness. Peter Feld has been an extraordinary force behind Gen's evolution. Joining the board of Symantec in 2018, Peter played an integral role in transforming the Company. His leadership was instrumental in the creation of NortonLifeLock, the subsequent merger with Avast, and the birth of Gen as a global consumer Cyber Safety brand and category leader. "Peter has been a crucial partner and an invaluable asset to Gen," said Frank Dangeard, Chair of Gen's Board of Directors. "His vision and commitment have been central to shaping our strategy and setting the foundation for our growth. His legacy will always remain a part of Gen's DNA as we look toward a future of empowering every individual to live their digital life confidently and securely. On behalf of the entire team, I want to extend my deepest gratitude to Peter for his contributions." Peter Feld said, "After serving for six years, it is time for me to step down from the Board. It has been an incredible journey, and I am thankful to Vincent, the entire management team, and the Board of Directors for their commitment to Gen and hard work towards delivering results and value creation. Gen is extremely well-positioned for the future with a strong foundation and exciting new growth prospects through its evolution into financial wellness. I look forward to watching the company continue to thrive." Gen also introduces John Chrystal to its Board of Directors. With extensive expertise in fintech and financial innovation, John's leadership comes at a pivotal time following Gen's acquisition of MoneyLion, where he served as Chair of the Board of Directors. His appointment signals Gen's deepening commitment to expanding its portfolio in financial wellness, enabling consumers to safeguard both their digital lives and their financial future. John's experience will directly contribute to Gen's renewed mission, extending beyond Cyber Safety, to include financial wellbeing. John Chrystal adds, "I am excited and humbled to join the extraordinary management and Board team at Gen. I look forward to all the ways I can contribute to the company as it pursues its important mission. In today's world, trust-based solutions for digital and financial wellness are incredibly important. I look forward to aiding consumers as they strive to make the best financial choices possible, all while safeguarding their financial and digital future." With these transitions, Gen stands at the forefront of industry innovation, laser-focused on delivering unparalleled value to consumers across its family of trusted brands. About Gen Gen (NASDAQ: GEN) is a global company dedicated to powering Digital Freedom through its trusted consumer brands including Norton, Avast, LifeLock, MoneyLion and more. The Gen family of consumer brands is rooted in providing financial empowerment and cyber safety for the first digital generations. Today, Gen empowers people to live their digital lives safely, privately and confidently for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy, identity protection and financial wellness to nearly 500 million users in more than 150 countries. Learn more at CONTACTS Investor Contact Jason StarrMedia Contact Jess Monney GenGen IR@ View original content to download multimedia: SOURCE Gen Digital Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
07-05-2025
- Business
- Globe and Mail
Gen Digital Q4 Earnings Surpass Expectations, Revenues Rise Y/Y
Gen Digital Inc. GEN reported fourth-quarter fiscal 2025 results, wherein both revenues and earnings beat the Zacks Consensus Estimate. Gen Digital reported non-GAAP earnings of 59 cents per share, which beat the Zacks Consensus Estimate by 1.7%. The figure improved 11.3% year over year and 13% on a constant currency basis. In the fiscal fourth quarter, the bottom line came at the high end of management's guidance of 57-59 cents. In the trailing four quarters, GEN's earnings surpassed the Zacks Consensus Estimate twice, while matching twice on the same occasion, delivering an average surprise of 0.94%. Gen Digital's fourth-quarter non-GAAP revenues increased 5% year over year and on a constant currency basis to $1.01 billion, which beat the Zacks Consensus Estimate by 1.2%. The strong revenue growth was due to escalating AI-powered scams, ransomware, and impersonation threats fueling demand for Gen Digital's AI-driven cyber safety solutions, including Genie Scam Protection. Furthermore, GEN's investment in AI has significantly improved product efficacy, enhancing monetization opportunities and lifetime customer value. The acquisition of MoneyLion has expanded GEN's Total Addressable Market into financial wellness. GEN's Q4 Top-Line Details Robust growth in Gen Digital's top line can be attributed to the increase in the Cyber Safety revenues, which comprise the Direct Customer revenues and the Partner revenues. Gen Digital's Cyber Safety revenues amounted to $998 million in the fourth quarter, out of which Direct Customer revenues increased 3.9% year over year to $877 million, and Partner revenues improved 15.2% to $121 million. The direct monthly average revenue per user (ARPU) increased to $7.27 compared with the year-ago quarter's ARPU of $7.22 but remained the same as the previous quarter's $7.27. The quarterly bookings advanced 3% year over year to $1.076 billion. Gen Digital's average direct customer count increased to 40.4 million from 39.1 million in the year-ago quarter and 40.1 million in the previous quarter. GEN's customer retention rate was 78%, up from 77.0% in the year-ago quarter and unchanged from the previous quarter. GEN's Operating Details The non-GAAP gross profit grew 4.3% year over year to $868 million in the fourth quarter. However, the gross margin contracted 40 basis points (bps) to 85.9%. Non-GAAP operating expenses increased to $278 million, up 4.5% year over year. As a percentage of revenues, non-GAAP operating expenses declined 10 bps year over year to 27.5%. The non-GAAP operating income in the fourth quarter of fiscal 2025 totaled $590 million, up 4.2% year over year. The non-GAAP operating margin was 58.4%, down 30 bps year over year. Non-GAAP EBITDA increased 8.6% year over year to $518 million. Gen Digital's Balance Sheet & Cash Flow Gen Digital exited the fourth quarter with cash and cash equivalents of $1.006 billion, up from $883 million in the previous quarter. The long-term debt was $7.968 billion, down from $8.429 billion in the year-ago period. In the fourth quarter of fiscal 2025, the company generated operating and free cash flows of $473 million and $470 million, respectively. For the full fiscal year, Gen Digital generated operating cash flow of $1.221 billion and free cash flow of $1.206 billion. Gen Digital paid out $77 million in dividends during the fourth quarter. For fiscal 2025, it paid $313 million in dividends, repurchased stocks worth $272 million, and repaid debt worth $1.311 billion. Gen Digital Initiates Guidance for 2026 For the first quarter of fiscal 2026, Gen Digital anticipates revenues between $1.18 billion and $1.21 billion. The company projects non-GAAP earnings between 59 cents and 61 cents in the fiscal first quarter. The Zacks Consensus Estimate for first-quarter revenues and non-GAAP earnings is currently pegged at $996.5 billion and 58 cents per share, respectively. For fiscal 2026, Gen Digital projects revenues in the range of $4.7-$4.8 billion. It anticipates earnings per share in the range of $2.56-$2.54. The consensus mark for fiscal 2026 revenues and non-GAAP earnings is currently pinned at $4.03 billion and $2.39, respectively. Zacks Rank and Stocks to Consider Currently, GEN carries a Zacks Rank #4 (Sell). Affirm AFRM, Super Micro Computer SMCI and Paycom Software PAYC are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. AFRM, SMCI and PAYC sport a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today's Zacks #1 Rank stocks here. AFRM shares have gained 4% in the past year. The Zacks Consensus Estimate for AFRM's 2025 is pegged at a loss of 6 cents per share, narrowed by 7 cents over the past 60 days, suggesting growth of 96.7% from the year-ago quarter's reported figure. SMCI shares have plunged 56.4% in the past year. The Zacks Consensus Estimate for SMCI's fiscal 2025 earnings has been revised downward to $2.52 in the past seven days, suggesting year-over-year growth of 14%. PAYC shares have gained 6% over the past year. The Zacks Consensus Estimate for PAYC's 2025 earnings is pegged at $8.72 per share, implying a rise of 6.21% from the year-ago quarter's levels. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Gen Digital Inc. (GEN): Free Stock Analysis Report Super Micro Computer, Inc. (SMCI): Free Stock Analysis Report Paycom Software, Inc. (PAYC): Free Stock Analysis Report Affirm Holdings, Inc. (AFRM): Free Stock Analysis Report
Business Wire
29-04-2025
- Business
- Business Wire
Edison Partners Announces Exit from MoneyLion Following Acquisition by Gen
NASHVILLE, Tenn. & PRINCETON, N.J.--(BUSINESS WIRE)--Leading growth equity firm Edison Partners today announced its exit from MoneyLion (NYSE: ML), following the company's acquisition by Gen Digital Inc. ("Gen") (NASDAQ: GEN), finalized on April 10. MoneyLion became a force in financial technology—leading the industry's waves of rebundling and digitizing consumer finance and wealth management—and has now generated one of our firm's top five largest capital returns. Share Edison Partners was MoneyLion's first institutional investor in 2016, supporting its multi-stage enterprise growth into a global fintech leader of next generation, personalized financial products. Edison has helped MoneyLion transform into a top consumer finance super app with 20 million users, and a premier content, embedded finance, and business-to-consumer financial marketplace platform. "In our persistent drive to identify profitable growth opportunities, we zeroed in on co-founder and CEO Dee Choubey's vision and MoneyLion's unique potential to bring previously out-of-reach financial services to everyday Americans,' said Chris Sugden, managing partner at Edison Partners. "MoneyLion became a force in financial technology—leading the industry's waves of rebundling and digitizing consumer finance and wealth management — and has now generated one of our firm's top five largest capital returns. We're proud to have supported MoneyLion's journey and its exceptional team." MoneyLion has become the go-to destination for millions of Americans making important personal financial decisions. Since Edison's investment nearly a decade ago, MoneyLion has democratized access for working Americans' to financial services, created a B2B2C infrastructure through the acquisition of embedded finance marketplace Even Financial (rebranded to Engine by MoneyLion), and expanded its digital ecosystem for consumer finance, launching MoneyLion Checkout, a new marketplace solution that lets consumers search, apply for, and complete transactions instantly across numerous third-party financial products, all within the unified MoneyLion user experience. The company's membership grew 700 percent to over 20 million customers, became a public company listed on the New York Stock Exchange in 2021, and was named one of CNBC's World's Top Fintech Companies. 'Edison Partners played a critical, foundational role in helping MoneyLion move swiftly in its growth trajectory,' said Choubey. 'Chris and the Edison team consistently showed up as true partners guiding our go-to-market strategy, advising on capital markets, and working closely with our finance and accounting teams on our journey to be a public company. I thank them for their partnership as MoneyLion grew rapidly and profitably. Thanks to their operating team, a portfolio company has a huge advantage in the market when they partner with Edison as their investor and partner.' Edison Partners' exit of MoneyLion marks the third major exit to a strategic or private equity buyer since the start of the year. Additional exits include its minority stake sale of healthcare technology provider Zelis to Mubadala Investment Company for a 38x return, and last month it exited RapidDeploy, the leading provider of cloud-native next-generation 911 mapping, mobile, and analytics solutions for public safety agencies, to Motorola Solutions. About Edison Partners Edison Partners is a leading growth equity firm providing the financial and intellectual capital that CEOs and their executive teams need to grow and scale their companies. The firm's team brings more than 275 years of combined investing, operating and sector experience to each investment, accessible via the Edison Edge value creation platform, which is tailored to each business' strategy, stage and operating needs. Edison targets high-growth vertical SaaS, financial technology, and healthcare IT companies located outside Silicon Valley with $10 million to $30 million in revenue. Investments also include buyouts, recapitalizations, spinouts, and secondary stock purchases. Edison's active portfolio has created aggregated market value exceeding $10 billion. Edison Partners manages $1.7 billion in assets. For more information on Edison Partners, please visit and follow on LinkedIn.
