Latest news with #customergrowth
Zawya
5 days ago
- Business
- Zawya
MongoDB accelerates regional growth across UAE, Saudi Arabia and Africa
Dubai, UAE — Following the success of MongoDB Day in Dubai earlier this year and the announcement of its strategic partnership with MoroHub, MongoDB is significantly expanding its presence across the Middle East and Africa. The company has seen a strong upward trajectory in both customer growth and regional hiring, reinforcing its commitment to supporting digital transformation at scale across the public and private sectors. Since February, MongoDB has made several key hires to fuel this momentum, including a new Solutions Architect, Customer Success Manager, and Partner Specialist based in Dubai. It has also welcomed a new VP of Professional Services for EMEA, strengthening its regional capability to deliver high-touch customer support. MongoDB is also actively hiring in Riyadh, and expanding recruitment efforts across Central, East, and West Africa to meet increasing demand. 'We've secured exceptional talent across the region to support this next phase of growth, ' said Anders Irlander Fabry, Regional Director, MongoDB. ' Whether it's a digital-native startup or a national public service platform, organisations are looking for scalable, flexible data solutions. Our momentum reflects that MongoDB is fast becoming the backbone of modern application development in the Middle East and Africa.' MongoDB closed Q1 with triple digit growth in the private sector, and expects to continue this momentum throughout the year, driven by strong demand across financial services, telecommunications, retail, and the public sector. The company is also seeing rising interest from startups and digital-first enterprises, who value the platform's agility and developer-first design model. Recent customer wins and use cases include: • A national education aid platform serving thousands of students • A major energy organisation based in Turkey • A leading healthcare provider in Saudi Arabia • Three public sector entities in Abu Dhabi and several in Saudi Arabia • A smart city infrastructure initiative focused on public service delivery This growth follows MongoDB's strategic partnership with MoroHub, announced earlier this year, which is helping accelerate smart government and cloud-first initiatives in the UAE. The collaboration marked a pivotal step in MongoDB's regional strategy, aligning with national visions to strengthen data sovereignty, innovation, and digital capability-building. ' We're seeing a new era of growth and investment in the region, and MongoDB is proud to be a key enabler of that transformation,' added Irlander Fabry. 'T his is not just about our products; it's about partnership, people, and building long-term digital ecosystems across the Middle East and Africa.'
Globe and Mail
16-07-2025
- Business
- Globe and Mail
Is DraftKings Winning the Customer Acquisition War in Sports Betting?
DraftKings Inc. DKNG appears to be outpacing rivals in the customer acquisition battle across the competitive sports betting landscape. In first-quarter 2025, the company posted robust metrics that point to strong user growth and retention strategies, underpinned by efficient promotional spending and expanding product engagement. New customer acquisition was consistent with expectations, but what stands out is the efficiency with which DraftKings is scaling. Marketing costs are being optimized as the company continues to benefit from brand equity, improved promotional targeting and favorable advertising conditions in digital media. These dynamics contributed to better gross margins and EBITDA performance despite challenging sports outcomes. What is helping DraftKings stand apart is its investment in product innovation. More than 50% of the total handle in first-quarter 2025 came from live betting for the first time. This growing engagement reflects the successful integration of acquisitions like SimpleBet and Sports IQ, which enhance real-time wagering and keep users actively engaged. Additionally, DraftKings is seeing a healthy uptick in parlay and same-game parlay adoption, popular bet types with higher structural hold rates. Even with customer-friendly outcomes dampening actual sportsbook hold (down to 9.5%), structural hold rose to 10.4%, indicating DraftKings' underlying profitability engine is strengthening. Moreover, as newly acquired users mature, promotional intensity declines while contribution profit rises, a pattern DraftKings is managing effectively across jurisdictions. DraftKings' data-driven, product-led approach is yielding results. With improved live betting features, a loyal user base and scalable promotional spend, the company is well-positioned to maintain its lead in the ongoing customer acquisition war in U.S. sports betting. How DraftKings Stacks Up Against FanDuel and BetMGM In the race for sports betting dominance, FanDuel and BetMGM remain DraftKings' closest competitors, but recent trends show it pulling ahead on multiple fronts. FanDuel, owned by Flutter Entertainment plc FLUT, continues to lead in market share but is starting to face pressure. DraftKings' surging live betting handle and product enhancements are narrowing the gap, especially in states where FanDuel once held a clear lead. Unlike FanDuel's heavier reliance on aggressive promotions, DraftKings is proving more efficient in customer acquisition and retention. Meanwhile, BetMGM, backed by MGM Resorts International MGM and Entain, has struggled to match DraftKings' pace in product innovation. Though BetMGM boasts strong iGaming performance, it lags in sportsbook engagement. DraftKings' seamless integration of acquired tech and rapid adoption of features like same-game parlays and live micro-bets gives it a distinct edge. DKNG's Price Performance, Valuation & Estimates Shares of DKNG have gained 30.3% in the past three months compared with the industry's growth of 31.2%. Price Performance Image Source: Zacks Investment Research DraftKings is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-sales ratio of 5.69X. P/S (F12M) Image Source: Zacks Investment Research The Zacks Consensus Estimate for DKNG's 2025 and 2026 earnings implies a year-over-year uptick of 226.7% and 61.3%, respectively. DKNG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> 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 MGM Resorts International (MGM): Free Stock Analysis Report DraftKings Inc. (DKNG): Free Stock Analysis Report Flutter Entertainment PLC (FLUT): Free Stock Analysis Report
Zawya
01-07-2025
- Business
- Zawya
India's Bajaj Finserv hikes customer target to 250mln
Indian financial services group Bajaj Finserv has increased its customer target to 250 million in the next four years, chairman and managing director Sanjiv Bajaj told Reuters, betting on strong growth in the South Asian economy. Bajaj Finserv, one of India's biggest non-bank financial firms, in December set a target of 200 million customers by 2029, but has been winning business more quickly than expected. "(It's) very promising. We've added 10 million new customers in the last two years," Bajaj told Reuters. The largest company in the century-old Bajaj Group, Bajaj Finserv has about 92 million active customers in India across divisions including lending, asset management and insurance. The Bajaj Group holds a 55% stake in the financial services company, which is listed on the National Stock Exchange of India. Bajaj told Reuters in an interview in London that Bajaj Finserv had reached only about 30% to 40% of its potential market and was looking to accelerate growth by targeting India's burgeoning middle class and first-time borrowers. Bajaj Finserv's largest subsidiary, Bajaj Finance, typically provides loans to small businesses and consumers to fund purchases of household and electrical goods, as well as mortgages via its property finance arm, Bajaj Housing Finance. The biggest risk to the company's growth plans is that the Indian economy falls short of an 8% growth rate, Bajaj said, which economists believe it needs to meet its goal of becoming a developed nation. While India's central government has set out plans to lift economic growth, there was a danger this did not translate to a state level, he added. "The states rightly still have a lot of power, and I hope politics doesn't get the better of economics over there, because then it will deny us that additional opportunity to grow," Bajaj said. Bajaj Finserv sees customers' ability to repay loans improving from here, he added. While total income at the firm rose to 22.99 billion rupees ($268 million) in the 12 months to the end of March, up from 17.34 billion rupees the previous year, Bajaj Finserv has set aside cash to cover losses in its loan book since 2020. The net loss ratio at the company's flagship lending arm Bajaj Finance has reached about 0.7% in the last four or five years, Bajaj said, indicating a "little higher stress". "Post-COVID, we initially saw a period of stress where we saw revenge buying happening all over the world," he said, referring to the trend of customers spending on expensive goods after the pandemic. "So actually credit performance improved, and then it (has) started normalising to say 2019 pre-COVID levels. We think by and large it's normalised there; another couple of quarters and it should be fine." Bajaj said the company had begun using artificial intelligence chatbots to grant loans and speak with customers and the technology would be central to its growth plans. Asked if the company could consider international expansion in the future, Bajaj said: "We don't have plans yet, but it could be".
Reuters
01-07-2025
- Business
- Reuters
India's Bajaj Finserv hikes customer target to 250 million
LONDON, June 30 (Reuters) - Indian financial services group Bajaj Finserv has increased its customer target to 250 million in the next four years, chairman and managing director Sanjiv Bajaj told Reuters, betting on strong growth in the South Asian economy. Bajaj Finserv, one of India's biggest non-bank financial firms, in December set a target of 200 million customers by 2029, but has been winning business more quickly than expected. "(It's) very promising. We've added 10 million new customers in the last two years," Bajaj told Reuters. The largest company in the century-old Bajaj Group, Bajaj Finserv has about 92 million active customers in India across divisions including lending, asset management and insurance. The Bajaj Group holds a 55% stake in the financial services company, which is listed on the National Stock Exchange of India. Bajaj told Reuters in an interview in London that Bajaj Finserv had reached only about 30% to 40% of its potential market and was looking to accelerate growth by targeting India's burgeoning middle class and first-time borrowers. Bajaj Finserv's largest subsidiary, Bajaj Finance, typically provides loans to small businesses and consumers to fund purchases of household and electrical goods, as well as mortgages via its property finance arm, Bajaj Housing Finance. The biggest risk to the company's growth plans is that the Indian economy falls short of an 8% growth rate, Bajaj said, which economists believe it needs to meet its goal of becoming a developed nation. While India's central government has set out plans to lift economic growth, there was a danger this did not translate to a state level, he added. "The states rightly still have a lot of power, and I hope politics doesn't get the better of economics over there, because then it will deny us that additional opportunity to grow," Bajaj said. Bajaj Finserv sees customers' ability to repay loans improving from here, he added. While total income at the firm rose to 22.99 billion rupees ($268 million) in the 12 months to the end of March, up from 17.34 billion rupees the previous year, Bajaj Finserv has set aside cash to cover losses in its loan book since 2020. The net loss ratio at the company's flagship lending arm Bajaj Finance has reached about 0.7% in the last four or five years, Bajaj said, indicating a "little higher stress". "Post-COVID, we initially saw a period of stress where we saw revenge buying happening all over the world," he said, referring to the trend of customers spending on expensive goods after the pandemic. "So actually credit performance improved, and then it (has) started normalising to say 2019 pre-COVID levels. We think by and large it's normalised there; another couple of quarters and it should be fine." Bajaj said the company had begun using artificial intelligence chatbots to grant loans and speak with customers and the technology would be central to its growth plans. Asked if the company could consider international expansion in the future, Bajaj said: "We don't have plans yet, but it could be".
Yahoo
30-06-2025
- Business
- Yahoo
5 Must-Read Analyst Questions From Olo's Q1 Earnings Call
Olo's first quarter results were marked by continued customer growth and operational progress, prompting a positive market response. Management attributed the quarter's performance to strong deployment activity, increased adoption of its core modules, and successful upselling of new products like Catering Plus and Olo Pay. CEO Noah Glass highlighted that the company added approximately 2,000 net new locations and achieved double-digit growth in average revenue per user, driven by expanded use of its platform among both enterprise and emerging restaurant brands. Management also credited healthy order volumes within the limited service segment for supporting top-line growth and noted that gross revenue retention improved sequentially. Is now the time to buy OLO? Find out in our full research report (it's free). Revenue: $80.68 million vs analyst estimates of $77.47 million (21.3% year-on-year growth, 4.1% beat) Adjusted EPS: $0.07 vs analyst estimates of $0.06 (in line) Adjusted Operating Income: $11.53 million vs analyst estimates of $8.66 million (14.3% margin, 33.1% beat) The company lifted its revenue guidance for the full year to $339.3 million at the midpoint from $334.5 million, a 1.4% increase Operating Margin: -3%, up from -10.8% in the same quarter last year Net Revenue Retention Rate: 111%, down from 115% in the previous quarter Billings: $82.76 million at quarter end, up 22.2% year on year Market Capitalization: $1.44 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Connor Passarella (Truist Securities) asked about the Chipotle Catering Plus pilot and its role in winning top brands. CEO Noah Glass explained the multi-module approach and its potential to expand within large enterprise customers. Connor Passarella (Truist Securities) inquired about gross margin impacts from Olo Pay and potential one-time effects. CFO Peter Benevides clarified the composition of the $1 million benefit and noted future margins would depend on product mix. Mike Richards (RBC Capital Markets) questioned the effect of tariffs and input costs on customer behavior. Glass said restaurants are prioritizing efficiency and limited service concepts are gaining share, benefiting Olo's customer base. Max Michaelis (Lake Street Capital Markets) sought details on Chipotle's prior catering technology and the timeline for the pilot. Glass confirmed Chipotle used a homegrown solution and outlined the upcoming pilot phase. Pat McIlwee (William Blair) asked about the drivers behind gross profit acceleration and the outlook for further growth. Benevides pointed to strong deployments, increased ARPU, and expected reacceleration in the year's second half. In the upcoming quarters, the StockStory team will be watching (1) the pace of adoption for Catering Plus and Olo Pay card-present among large brands, (2) the integration and customer uptake of Olo Guest Intelligence and its impact on guest engagement, and (3) trends in average revenue per user as more modules are deployed across the existing customer base. Execution on these initiatives and further large enterprise wins will be critical markers of Olo's progress. Olo currently trades at $8.80, up from $8.04 just before the earnings. Is there an opportunity in the stock?Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). 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-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Sign in to access your portfolio
