NowVertical Group Inc.’s Post

Join us tomorrow, July 12th, at 10:00 a.m. EST, for a live corporate webinar hosted by our CEO, Sandeep Mendiratta and members of the management team. Discover insights into our operations, milestones, and the 2024 outlook. Why Attend? Hear about our integration strategy and progress. Learn about upcoming milestones. Engage in a live Q&A session. Register Now: https://lnkd.in/gKqn8MGw

NowVertical is pleased to announce it has fulfilled former obligations and enhanced shareholder alignment, positioning it for future growth and stability. This move aligns management's interests closely with those of our shareholders, as Sandeep Mendiratta now owns approximately ten percent of NOW's voting shares. Read full release here https://lnkd.in/gWKzuCd9 #ShareholderAlignment #DataAnalytics #AI #BusinessGrowth #Investment #NowVertical

NowVertical is pleased to share our financial performance for the first quarter of 2024.   Key Highlights: Revenue: $12.9 million, a 3% increase over Q1 2023 Income from Operations: $0.2 million, a 120% increase over Q1 2023 Adjusted EBITDA: $1.6 million, a 314% increase over Q1 2023 Our CEO, Sandeep Mendiratta, stated, "We made significant progress in the first quarter on multiple fronts, including leadership and governance, reconfiguring our go-to-market strategy, and implementing an aggressive strategic integration and restructuring plan. This quarter was a transitional period as we initiated the implementation of our One Brand, One Business strategy. Supported by our operator-first model, we are executing this strategy across multiple dimensions of our business. These changes enable us to focus on profitability and sustainability and long-term value creation, with positive results expected to build quarter over quarter as we move forward with our growth plan." Read Release: https://lnkd.in/g7_j6HeV Upcoming Investor Webinar: Join us on May 31, 2024, at 9:30 AM ET for our investor webinar where we'll discuss our Q1 2024 results and future outlook. Register here: NOW Q1 2024 Webinar #FinancialResults #DataAnalytics #AI #NOWVertical

NOW today announced the strategic disposition of Allegient Defense for  a gross consideration up to $12.5 million. This sale aligns with NowVertical’s commitment to optimizing our core business strategy and integration. Strategic Benefits for NowVertical: Focusing on Core Assets: Allegient's specialized SETA work accounted for less than 5% of its revenue from AI/ML and data solutions. This sale allows Allegient to thrive in its niche while we focus on our "One Business, One Brand" strategy. Enhanced EBITDA and Margins: Allegient's cost-plus-fixed-fee structure provided consistent but limited margins. Now, we can concentrate on scalable and optimized operations, achieving higher margins across our core business. Financial Flexibility: The $7.5 million in cash received at closing, along with additional payments, provides significant financial flexibility. The proceeds will help reduce overall debt significantly clear acquisition liabilities, and invest in business growth. Debt Reduction: This transaction clears $3.8 million of debt from our balance sheet, significantly reducing our debt liabilities. Supporting Growth: The sale enables strategic investments in our integrated business, supporting our growth plans and enhancing financial health. Following this disposition, we will continue serving government clients in North America, UK, EMEA, and LATAM markets, ensuring consistent delivery of our data and AI solutions. Read the full release at: https://lnkd.in/gK72eVPj For more detailed insights about the disposition, watch a video prepared by Sandeep Mendiratta, available at:  bit.ly/NOWDealInsights For further details about NowVertical Group Inc., #NowVertical #BusinessGrowth #StrategicSale #DebtReduction #AI #DataAnalytics #PublicSector #Innovation #SustainableGrowth

NOW is pleased to announce that we'll release our Q1 2024 financial results on May 30th after-market hours. Join us on May 31st at 9:30 AM ET for a financial webinar where our CEO Sandeep Mendiratta, CDO Andre Garber, and Interim CFO Christine Nelson will discuss the numbers and our business outlook. shareholders, analysts, investors, and media are invited. Read more: https://lnkd.in/gQ_VTNuW

NowVertical is pleased to announce David Doritty's appointment as Independent Director at NowVertical. Read the release: https://lnkd.in/dHCh9D-8 His wealth of experience in capital markets and governance will greatly benefit our board. Welcome aboard, David. #NowVertical #Leadership #Governance #CapitalMarkets

NowVertical (TSX-V: NOW) (OTCQB: NOWVF) is pleased to share that it has released its Q4 & full-year 2023 financial results. Join us for an in-depth discussion during our investor webinar on May 8, 2024 at 9:30 am ET. Read the full release here: https://lnkd.in/g6PB8vCg Register for the webinar here: bit.ly/NOW-Q4-2023-Webinar   #NowVertical #Finance #AI #DataAnalytics

NOW is pleased to announce it has renewed a 3-year, $1.5 million contract with a major South African bank for NOW Privacy software. This third consecutive renewal signifies a shift to long-term partnerships, emphasizing compliance, data security, and efficiency. The deal reinforces our standing as a trusted global financial solutions provider. CEO Sandeep Mendiratta highlights our commitment to empowering clients with essential data governance solutions. See release: https://lnkd.in/gXSsQK2Y #NowVerticalGroup #Renewal #DataGovernance #FinancialInnovation $NOW.V