Latest news with #SaaS-based
Yahoo
2 days ago
- Automotive
- Yahoo
Modii Inc. Announces Successful Capital Raise to Accelerate Smart Mobility Solutions Across the U.S.
Backed by EVP, the investment fuels Modii's expansion in the digital transformation of parking and mobility infrastructure. DENVER, June 9, 2025 /PRNewswire/ -- Modii Inc., a U.S. based smart mobility software company, today announced the successful close of its seed round, led by Australia-based venture firm EVP. The raise comes amid rapid adoption of Modii's SaaS-based cloud platform by major cities, universities and parking operators, guiding the digitization and optimization of their transportation infrastructure. About Modii's PlatformModii provides a centralized platform for the analysis and optimization of parking and mobility infrastructure. The cloud-based platform aggregates real-time data on the utilization and revenue of existing parking assets and leverages AI-driven analytics to predict future demand, enabling operators to improve user experience, asset efficiency, and operational decision-making. In the US, the company now manages over a million parking spaces for customers including multiple 2026 FIFA World Cup host cities and several of the most visited cities in the US. University clients include half of the ten largest universities by daily attendance in the US. Modii's live environments can be explored at Use of FundsWith this investment, Modii plans to expand operations, enhance its engineering and product capabilities, and grow customer delivery and success teams in key U.S. markets. "This capital raise validates both our vision and our execution," said Mark Frumar, CEO of Modii. "We're now positioned to scale innovation that directly improves daily mobility experiences and infrastructure for communities across the U.S." With the investment, EVP Principal, Mark Velik will join the Board of Modii. "Modii has built a world-class product with clear customer demand," said Mark Velik, Principal at EVP. "We're excited to support their continued innovation in this long overlooked but essential sector." About ModiiModii is guiding the shift towards smart parking and mobility solutions to help create smarter, greener, and safer cities, universities, and communities around the world. Modii provides customers with real data on the usage of their parking infrastructure to enable data-led decision-making. The foundation data helps communities achieve increased accessibility and connectivity, the reduction of congestion, emissions, and improved asset management. Modii recently completed a 2-year research study in partnership with the Department of Civil Engineering at The University of Texas at Arlington to test the impact and effectiveness of Modii's platform and parking guidance solution. Grant-funded by the North Central Texas Council of Governments, the study found Modii's Platform provides the following improvements to parking operations: Increased revenue by an average of 8.5% in monitored parking zones. Reduced parking violations by up to 60%, improved driver behavior and promoted self-regulation by drivers. Lowered enforcement costs through the analysis of parking trends aiding focused patrols. Guided strategic refinements to parking policy, parking operations and enforcement with the help of measured evidence. Website: contact: hello@ About EVPEVP is an early stage venture capital firm focused on B2B software companies. EVP currently has over $250m under management across a portfolio of over 40 software companies. Based in Sydney, Australia, EVP invests entirely in B2B SaaS and marketplace companies across a broad range of industries. Companies include the likes of Ignition, Deputy, Shippit, Lumary, Hnry and View original content to download multimedia: SOURCE Modii 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
Yahoo
13-05-2025
- Business
- Yahoo
CVLT Q1 Earnings Call: Cloud Security and SaaS Upsell Drive Outperformance, Guidance Points to Sustained Growth
Data backup provider Commvault (NASDAQ:CVLT) reported revenue ahead of Wall Street's expectations in Q1 CY2025, with sales up 23.2% year on year to $275 million. The company expects next quarter's revenue to be around $268 million, close to analysts' estimates. Its non-GAAP profit of $1.03 per share was 10.7% above analysts' consensus estimates. Is now the time to buy CVLT? Find out in our full research report (it's free). Revenue: $275 million vs analyst estimates of $262.4 million (23.2% year-on-year growth, 4.8% beat) Adjusted EPS: $1.03 vs analyst estimates of $0.93 (10.7% beat) Adjusted Operating Income: $59.1 million vs analyst estimates of $53.97 million (21.5% margin, 9.5% beat) Management's revenue guidance for the upcoming financial year 2026 is $1.14 billion at the midpoint, beating analyst estimates by 2.8% and implying 14% growth (vs 18.4% in FY2025) Operating Margin: 9.7%, up from 8.1% in the same quarter last year Free Cash Flow Margin: 27.7%, up from 11.4% in the previous quarter Annual Recurring Revenue: $930.1 million at quarter end, up 20.8% year on year Billings: $313 million at quarter end, up 28% year on year Market Capitalization: $7.77 billion Commvault's first quarter results exceeded Wall Street expectations, as management credited strong customer demand for cyber resilience and rapid adoption of its SaaS-based data protection offerings. CEO Sanjay Mirchandani attributed the quarter's momentum to growing concerns around ransomware and compliance, with products like Active Directory Recovery and Clean Room winning large enterprise customers and driving higher subscription revenue. He noted, "Organizations are increasingly turning to Commvault to keep their business continuous," highlighting recent wins in regulated industries and cloud-first environments. For its forward-looking guidance, leadership emphasized continued investment in product expansion and cloud integrations to capture what it sees as a $24 billion market opportunity. CFO Jen DiRico explained the company's margin outlook and investment strategy as a balance between maintaining profitability and accelerating growth, stating that Commvault will "continue to invest behind the opportunity while also being thoughtful around our overall profitability." Management is monitoring macroeconomic conditions, but remains confident that demand for cyber resilience and cloud security will drive double-digit growth for the year. Commvault's management focused on customer adoption of its cyber resilience platform, product innovation, and expanding partner relationships as the main contributors to the quarter's results and outlook. Cyber resilience demand: Growing threats like ransomware and stricter regulations are making cyber resilience a top priority for customers, especially in financial services and healthcare. Commvault's solutions were cited in wins with major banks and multinational corporations seeking to consolidate and simplify their data protection. Product innovation and launches: The company introduced new capabilities, such as Active Directory forest-level recovery and Cloud Rewind, enabling faster recovery from cyberattacks and cloud data loss. Management highlighted the importance of these features for recovering critical business operations quickly, particularly as enterprises adopt more AI-driven workloads. SaaS and subscription momentum: Commvault's SaaS offerings—especially Active Directory, Clean Room, and Threat Scan—drove a significant share of new and upsell business. Subscription annual recurring revenue (ARR) grew sharply, and roughly 30% of SaaS customers now use multiple products, supporting management's cross-sell strategy. Partner ecosystem expansion: Collaborations with technology and cloud partners like AWS, Hitachi, and HPE accelerated international growth and enabled Commvault to win business by supporting compliance requirements such as GDPR and DORA. Marketplace transactions increased notably year over year. Hybrid and cloud-first strategy: Management emphasized Commvault's ability to deliver both on-premise and cloud-native protection, giving enterprises flexibility. Investments in hybrid and multi-cloud architecture were presented as competitive differentiators, helping to win customers migrating complex workloads to the cloud. Management's outlook for the coming quarters centers on sustained demand for cyber resilience solutions, continued product innovation, and prudent investment in growth initiatives. Cloud and cyber security tailwinds: The ongoing rise in cyberattacks, stricter compliance mandates, and enterprise adoption of hybrid and multi-cloud environments are expected to fuel continued demand for Commvault's offerings. Expansion of multiproduct adoption: Management aims to increase the percentage of SaaS customers using multiple offerings, leveraging cross-sell and upsell opportunities with newer modules like Threat Scan and Clean Room, which they believe will drive higher net retention. Balanced investment approach: While targeting double-digit revenue growth, Commvault plans to maintain margins through disciplined investment in R&D, sales, and partner enablement. Management noted the different margin profile of SaaS offerings and intends to balance growth with profitability. Eric Heath (KeyBanc Capital Markets): Asked how macroeconomic uncertainty is affecting customer demand and sales cycles; management replied that cyber resilience remains a priority and that no significant changes in customer buying patterns have emerged. Eric Heath (KeyBanc Capital Markets): Sought clarity on operating margin outlook and investment strategy; CFO Jen DiRico explained the flat margin guidance as a balance between seizing growth opportunities and maintaining profitability. Aaron Rakers (Wells Fargo): Requested detail on the integration and contribution of recent acquisitions; management emphasized that acquired products are now fully integrated and provide unique capabilities, especially for cloud-scale data recovery. Aaron Rakers (Wells Fargo): Inquired about progress in multiproduct SaaS adoption; leadership stated that the absolute number of customers using multiple products is rising, with net dollar retention remaining high. Param Singh (Oppenheimer): Asked about changes in the competitive landscape following industry consolidation; management responded that Commvault's focus on resilience and hybrid architecture is driving share gains, particularly in high-growth SaaS segments. Looking ahead, the StockStory team will be monitoring (1) the pace at which Commvault expands multiproduct adoption among SaaS customers, (2) the impact of new product launches and integrations on customer wins in regulated and international markets, and (3) the company's ability to sustain high net retention and ARR growth as the competitive landscape evolves. Execution on cross-sell initiatives and continued partner ecosystem expansion will also serve as key indicators of future performance. Commvault Systems currently trades at a forward price-to-sales ratio of 7×. At this valuation, is it a buy or sell post earnings? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
25-02-2025
- Business
- Yahoo
RadNet's Wholly-Owned Subsidiary, DeepHealth, and ConcertAI's TeraRecon Announce Strategic Collaboration Around Integrated AI and Advanced Visualization
DeepHealth's cloud-native Diagnostic Suite™ will integrate TeraRecon's SaaS-based advanced visualization capabilities, creating a unified AI-powered diagnostic workspace that enhances workflows and expands access to advanced diagnostic tools across diverse healthcare settings. The collaboration will also integrate DeepHealth's clinical AI solutions into TeraRecon's AI ecosystem, augmenting its capabilities and expanding its impact in diagnostic imaging. Both companies will continue to explore new opportunities to leverage each other's AI solutions and distribute AI-driven imaging and workflow automation. LOS ANGELES and SOMERVILLE, Mass., Feb. 25, 2025 (GLOBE NEWSWIRE) -- DeepHealth, Inc., a global leader in AI-powered health informatics and a wholly-owned subsidiary of RadNet, Inc. (Nasdaq: RDNT) and ConcertAI's TeraRecon, a leader in medical imaging advanced visualization, clinical AI, and workflow automation, announced today a strategic collaboration to integrate certain capabilities to advance imaging tools and the radiology workflow. This collaboration is first designed to create a seamless AI-enabled diagnostic experience for radiologists and imaging specialists through integrating TeraRecon's advanced visualization (AV) technology into DeepHealth OS cloud-native Operating System. Additionally, the collaboration seeks to incorporate DeepHealth's clinical AI solutions into TeraRecon's AI ecosystem, enabling physicians to deliver precise and timely diagnostic interpretations. 'ConcertAI will be aligning its TeraRecon Advanced Visualization and Clinical AI solutions with DeepHealth's AI-enabled operating system to deliver optimized operational and interpretive workflows to radiologists,' said Jeff Elton, PhD, CEO of ConcertAI. 'This two-way collaboration, integrating DeepHealth's clinical AI technology into the TeraRecon AI ecosystem, can provide more radiologists with essential tools to enhance diagnostic efficiency, enabling better patient care.' As imaging volumes continue to rise, radiology departments face increasing pressure to manage workload efficiently while maintaining diagnostic accuracy. AI-powered solutions have demonstrated their potential in streamlining workflows and improving precision, making integrated technologies essential for the future of medical imaging. DeepHealth OS is a secure, scalable, cloud-native platform that personalizes AI-powered workspaces for radiology teams, enabling greater collaboration and efficiency. DeepHealth's Diagnostic Suite™, which harnesses the cloud-native capabilities of DeepHealth OS delivers seamless workflow integration to meet the evolving demands of radiologists through interoperable, reliable, highly scalable unified diagnostic workspace. The integration of TeraRecon's advanced visualization capabilities with DeepHealth's OS and Diagnostic Suite will enhance diagnostic accuracy and efficiency and streamline radiologists' workflows by enabling radiologists to make faster, more informed decisions with greater ease. 'At DeepHealth, we are committed to leveraging advanced AI to enhance radiology workflows, elevate the experience of care teams, and improve patient care,' said Kees Wesdorp, PhD, President and CEO of RadNet's Digital Health division. 'Partnering with TeraRecon allows us to integrate industry-leading visualization and clinical AI technology, equipping radiologists with the tools to improve efficiency and reduce variability. This collaboration strengthens DeepHealth OS, driving innovation in medical imaging.' Additionally, the two companies are exploring the integration of several of DeepHealth's AI-powered cancer screening capabilities into TeraRecon's AI ecosystem, further strengthening TeraRecon's AI-powered imaging solutions and making these essential screening tools more widely available. These enhancements would contribute to TeraRecon's comprehensive cloud-based imaging suite, which spans from diagnosis to research, offering end-to-end advanced imaging solutions for a broader range of healthcare providers. This collaboration marks the beginning of a broader engagement between TeraRecon and DeepHealth, as both companies explore additional areas to integrate AI-driven imaging and workflow automation. By continuing to expand their joint capabilities, they aim to provide radiologists with seamless diagnostic tools that enhance precision, efficiency, and better care delivery. For more information, visit the TeraRecon (#AI-13) and DeepHealth (#507, X5) booths at the European Congress of Radiology 2025, which will be held between 26 February and 2 March in Vienna, Austria. About ConcertAIConcertAI is the leader in predictive and generative AI SaaS and multi-modal data solutions for healthcare and life sciences. Our mission is to accelerate insights and outcomes for patients through research-ready data, CARAai™ technologies, and scientific expertise in partnership with over 46 leading biomedical innovators, 2,000 healthcare providers, and medical societies. TeraRecon® provides advanced radiological image visualizations and clinical AI decision augmentation solutions for MRI and CT. CancerLinQ® is an Initiative of ConcertAI, providing oncology providers with ASCO-aligned automated QOPI and ASCO Certified® quality solutions and SmartLinQ™ analytic services. Headquartered in Cambridge, MA, ConcertAI has offices in Bangalore, Frankfurt, Philadelphia, Raleigh-Durham, and Tokyo. For more information, visit us at and About DeepHealthDeepHealth is a wholly-owned subsidiary of RadNet, Inc. (NASDAQ: RDNT) and serves as the umbrella brand for all companies within RadNet's Digital Health segment. DeepHealth provides AI-powered health informatics with the aim of empowering breakthroughs in care through imaging. Building on the strengths of the companies it has integrated and is rebranding (i.e., eRAD Radiology Information and Image Management Systems and Picture Archiving and Communication System, Aidence lung AI, DeepHealth and Kheiron breast AI and Quantib prostate and brain AI), DeepHealth leverages advanced AI for operational efficiency and improved clinical outcomes in lung, breast, prostate, and brain health. At the heart of DeepHealth's portfolio is a cloud-native operating system - DeepHealth OS - that unifies data across the clinical and operational workflow and personalizes AI-powered workspaces for everyone in the radiology continuum. Thousands of radiologists at hundreds of imaging centers and radiology departments around the world use DeepHealth solutions to enable earlier, more reliable, and more efficient disease detection, including in large-scale cancer screening programs. DeepHealth's human-centered, intuitive technology aims to push the boundaries of what's possible in healthcare. About RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 399 owned and/or operated outpatient imaging centers. RadNet's markets include Arizona, California, Delaware, Florida, Maryland, New Jersey, New York and Texas. In addition, RadNet provides radiology information technology and artificial intelligence solutions marketed under the DeepHealth brand, teleradiology professional services and other related products and services to customers in the diagnostic imaging industry. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technologists, RadNet has a total of over 10,000 employees. For more information, visit Forward Looking StatementThis press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements regarding the capabilities of RadNet, ConcertAI, TeraRecon, and DeepHealth's informatics, hardware and software product portfolios and the collaboration's impact on radiology practices and healthcare workflow, are expressions of our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, and anticipated future conditions, events and trends. Forward-looking statements can generally be identified by words such as: 'anticipate,' 'intend,' 'plan,' 'goal,' 'seek,' 'believe,' 'project,' 'estimate,' 'expect,' 'strategy,' 'future,' 'likely,' 'may,' 'should,' 'will' and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements. For media inquiries, reach out to: ConcertAITrebleMcKenzie Covellconcertai@ DeepHealthAndra AxenteCommunications DirectorPhone: +31 614 440971Email:
