Latest news with #StevenYi
Yahoo
25-02-2025
- Business
- Yahoo
MediaAlpha Inc (MAX) Q4 2024 Earnings Call Highlights: Record Growth Amidst FTC Challenges
Transaction Value: $499.2 million in Q4, with P&C transaction value up sequentially. Adjusted EBITDA: $36.7 million in Q4, including $9 million of add backs related to the FTC matter. Health Vertical Transaction Value: $270 million for 2024, with a 14% take rate. Q1 2025 Guidance - Transaction Value: Expected between $415 million and $440 million, a 95% year-over-year increase at the mid-point. Q1 2025 Guidance - Revenue: Expected between $225 million and $245 million, an 86% year-over-year increase at the mid-point. Q1 2025 Guidance - Adjusted EBITDA: Expected between $24.5 million and $26.5 million, a 77% year-over-year increase at the mid-point. Cash and Net Debt: Ended the quarter with $43 million of cash and net debt to 2024 adjusted EBITDA of less than 1.3 times. Warning! GuruFocus has detected 5 Warning Signs with MAX. Release Date: February 24, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MediaAlpha Inc (NYSE:MAX) reported a significant growth in transaction value, increasing by more than 150% year-over-year. The company achieved a remarkable growth in adjusted EBITDA, which grew by over 200% year-over-year. Record fourth quarter results were delivered across all key performance metrics, driven by strength in the P&C insurance vertical. MediaAlpha Inc (NYSE:MAX) has gained significant market share in the P&C sector due to attractive secular trends and strong execution. The company has a strong market position in the Medicare Advantage market, partnering with seven of the top 10 carriers. The health insurance vertical experienced a decline, with transaction value down 8% year-over-year due to ongoing headwinds in Medicare Advantage and softening under-65 demand. MediaAlpha Inc (NYSE:MAX) is facing a draft complaint and settlement demand from the FTC related to its under-65 health insurance business. The company had to record a $7 million reserve related to the FTC matter, impacting its adjusted EBITDA. Transaction values in the health vertical are expected to decline by a high-teens percentage year-over-year in Q1 2025. There is ongoing uncertainty regarding the resolution of the FTC matter, which could impact future financial results. Q: Can you provide more details on the FTC situation and the $7 million accrual? A: Steven Yi, CEO, mentioned ongoing discussions with the FTC and stated that updates will be provided once a resolution is reached. Patrick Thompson, CFO, explained that the $7 million reserve was calculated under US GAAP's contingent liability accounting, representing the lower end of estimated losses. This figure is subject to change as more information becomes available. Q: Could you expand on the P&C market trends and expectations for 2025? A: Steven Yi, CEO, expressed optimism for the P&C vertical in 2025, citing strong carrier profitability and increased competition in the marketplace. He noted that with rate actions slowing, carriers will need to focus on acquiring new customers. Elevated consumer shopping levels and strong early-year results are expected to drive further competition and growth. Q: What are the key initiatives beyond P&C, and what strategic investments are planned for 2025? A: Steven Yi, CEO, highlighted the significant growth potential in the Medicare Advantage market and ongoing investments in commercial insurance and agent business. The company is also focusing on data science to enhance efficiencies for publishers and advertisers. Q: How does the cost to acquire traffic impact your margins? A: Steven Yi, CEO, explained that MediaAlpha's business model, which relies on a marketplace of publishers rather than direct customer acquisition, minimizes the impact of rising traffic acquisition costs. The company benefits from increased carrier investment in customer acquisition without incurring direct costs. Q: Can you elaborate on the guidance assumptions for Q1, particularly in the health vertical? A: Patrick Thompson, CFO, stated that the health vertical is expected to decline in the high-teens year-over-year, with ongoing headwinds in Medicare Advantage and a slowdown in the under-65 business. Despite short-term challenges, the company remains optimistic about the long-term potential in the Medicare Advantage market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Zawya
18-02-2025
- Business
- Zawya
Zain Kuwait partners with Huawei to enrich customer experiences through digital Business Support System
KUWAIT CITY - Zain Kuwait has partnered with global technology solutions provider, Huawei, to implement a Business Support System (BSS) digital transformation project. This milestone marks a significant step in the company's digital transformation journey, aiming to enhance its technological infrastructure with cutting-edge solutions that comprehensively improve operational efficiency and accelerate the growth of new services to enrich customer experiences. The project was penciled at Zain's headquarters in Shuwaikh, attended by Nawaf Al-Gharabally, CEO of Zain Kuwait; Steven Yi, President of Huawei Regional Joint Chiefs of Staff; Phillip Gan, President of Huawei Middle East and Central Asia, along with senior executives and teams from both companies. This project, that positions Zain as the first operator in Kuwait to implement a BSS digital upgrade, serves as a key pillar in advancing Zain's '4WARD-Progress with Purpose' strategy and vision as the company continues to lead Kuwait's digital transformation as a technology-driven innovator. Commenting on the occasion, Nawaf Al-Gharabally stated: 'Zain is committed to building smarter and more agile digital networks that enhance the company's transition to a techco innovator, reaffirming our position as a pioneer of ICT technologies in Kuwait.' 'This pivotal digital transformation project with our strategic partners Huawei writes a new chapter in Zain's journey of achievements, that will unlock unlimited opportunities to enhance operational efficiency, accelerate the growth of new services, simplify processes, and streamline transactions. This enables us to offer more innovative and dynamic experiences to Kuwait's largest customer base of individual, enterprise and government clientele.' 'The next-generation BSS will drive a major transformation in our operations across various aspects, including greater service flexibility, enhanced customer experiences, and improved innovation capabilities. This will significantly boost our ability to meet the needs of customers and businesses in smarter and more efficient ways.' The Zain Kuwait CEO concluded: 'Today, we take this step under our new '4WARD strategy - Progress with Purpose', which is built on four key forces: Customer Delight, Digital Zain, Purpose and Action, and Collaborative Growth. All these forces are embodied in this project, and we look forward to seeing its fruitful results as we implement and launch it operationally in the future.' Steven Yi remarked: 'Zain has always been at the forefront of industry innovation, driving success in the 5G era, and is moving towards deeper digital transformation. As the core support for Zain service operation, BSS will continue to enable service agility, customer experience optimization, and B2B service expansion in the next decade.' He continued: 'Huawei is honored to remain a long-term strategic partner of Zain to reinforce its leadership. We will fully invest the best resources to ensure high-quality BSS project delivery and support Zain in accelerating Techco transformation, building on the successes we have achieved together over the past decades.' The new-generation BSS system will support personalized marketing strategies, intelligent recommendations, and an omni-channel user experience to improve customer satisfaction. It will accelerate the launch of new services and packages, reduce market response time, and optimize business performance. Additionally, automation and digitization solutions embedded within the new system will enhance the efficiency of business operations for both consumer and enterprise sectors, drive the growth of SME customers, and improve overall operational efficiency. The system's smart operations will also reduce maintenance costs and ensure service continuity through real-time monitoring and intelligent management of operations and maintenance. This collaboration reflects Zain and Huawei's strong partnership over the decades. As a long-term partner, Huawei will support Zain in accelerating the BSS upgrade through its leading solutions and global technical expertise, ensuring the successful implementation of the project. Beyond a mere technological upgrade, this initiative represents a critical phase in Zain's digital transformation. It paves the way for more innovative, flexible, and efficient digital services for both individual and enterprise customers. This milestone highlights Zain's continued leadership in advancing its infrastructure to keep pace with rapid developments in telecom and ICT, reinforcing its commitment to delivering best-in-class service quality and user experience. The initiative aligns with Zain's strategic vision to maintain a competitive edge in the digital era by providing world-class services, innovations, and exceptional customer experiences. Through Zain's 4WARD strategy, the company looks to maximize its full potential as a customer-centric, future-proof, and impactful leading regional TechCo conglomerate.
Arab Times
17-02-2025
- Business
- Arab Times
Zain Kuwait partners with Huawei to enrich customer experiences through digital Business Support System (BSS) transformation project
KUWAIT CITY, Feb 17: Zain Kuwait has partnered with global technology solutions provider, Huawei, to implement a Business Support System (BSS) digital transformation project. This milestone marks a significant step in the company's digital transformation journey, aiming to enhance its technological infrastructure with cutting-edge solutions that comprehensively improve operational efficiency and accelerate the growth of new services to enrich customer experiences. The project was penciled at Zain's headquarters in Shuwaikh, attended by Nawaf Al-Gharabally, CEO of Zain Kuwait; Steven Yi, President of Huawei Regional Joint Chiefs of Staff; Phillip Gan, President of Huawei Middle East and Central Asia, along with senior executives and teams from both companies. This project, that positions Zain as the first operator in Kuwait to implement a BSS digital upgrade, serves as a key pillar in advancing Zain's '4WARD-Progress with Purpose' strategy and vision as the company continues to lead Kuwait's digital transformation as a technology-driven innovator. Commenting on the occasion, Nawaf Al-Gharabally stated: 'Zain is committed to building smarter and more agile digital networks that enhance the company's transition to a techco innovator, reaffirming our position as a pioneer of ICT technologies in Kuwait.' 'This pivotal digital transformation project with our strategic partners Huawei writes a new chapter in Zain's journey of achievements, that will unlock unlimited opportunities to enhance operational efficiency, accelerate the growth of new services, simplify processes, and streamline transactions. This enables us to offer more innovative and dynamic experiences to Kuwait's largest customer base of individual, enterprise and government clientele.' 'The next-generation BSS will drive a major transformation in our operations across various aspects, including greater service flexibility, enhanced customer experiences, and improved innovation capabilities. This will significantly boost our ability to meet the needs of customers and businesses in smarter and more efficient ways.' The Zain Kuwait CEO concluded: 'Today, we take this step under our new '4WARD strategy - Progress with Purpose', which is built on four key forces: Customer Delight, Digital Zain, Purpose and Action, and Collaborative Growth. All these forces are embodied in this project, and we look forward to seeing its fruitful results as we implement and launch it operationally in the future.' Steven Yi remarked: 'Zain has always been at the forefront of industry innovation, driving success in the 5G era, and is moving towards deeper digital transformation. As the core support for Zain service operation, BSS will continue to enable service agility, customer experience optimization, and B2B service expansion in the next decade.' He continued: 'Huawei is honored to remain a long-term strategic partner of Zain to reinforce its leadership. We will fully invest the best resources to ensure high-quality BSS project delivery and support Zain in accelerating Techco transformation, building on the successes we have achieved together over the past decades.' The new-generation BSS system will support personalized marketing strategies, intelligent recommendations, and an omni-channel user experience to improve customer satisfaction. It will accelerate the launch of new services and packages, reduce market response time, and optimize business performance. Additionally, automation and digitization solutions embedded within the new system will enhance the efficiency of business operations for both consumer and enterprise sectors, drive the growth of SME customers, and improve overall operational efficiency. The system's smart operations will also reduce maintenance costs and ensure service continuity through real-time monitoring and intelligent management of operations and maintenance. This collaboration reflects Zain and Huawei's strong partnership over the decades. As a long-term partner, Huawei will support Zain in accelerating the BSS upgrade through its leading solutions and global technical expertise, ensuring the successful implementation of the project. Beyond a mere technological upgrade, this initiative represents a critical phase in Zain's digital transformation. It paves the way for more innovative, flexible, and efficient digital services for both individual and enterprise customers. This milestone highlights Zain's continued leadership in advancing its infrastructure to keep pace with rapid developments in telecom and ICT, reinforcing its commitment to delivering best-in-class service quality and user experience. The initiative aligns with Zain's strategic vision to maintain a competitive edge in the digital era by providing world-class services, innovations, and exceptional customer experiences. Through Zain's 4WARD strategy, the company looks to maximize its full potential as a customer-centric, future-proof, and impactful leading regional TechCo conglomerate.
