Pricey reader,
Southeast Asian tech big Seize has achieved a big milestone, recording its first-ever quarterly revenue of US$11 million in This fall 2023. This exceptional turnaround from a US$391 million loss in the identical interval final yr displays improved monetary efficiency throughout varied metrics.
The corporate attributes its success to elements like optimistic adjusted EBITDA, decreased bills, and sturdy financials. This newfound confidence is additional evidenced by its announcement of a US$500 million share buyback program, a transfer sometimes indicative of optimism in future inventory efficiency.
Seize’s income additionally skilled vital development, rising 30% year-on-year to US$653 million in This fall 2023. This development was pushed by sturdy efficiency throughout all segments, with deliveries and mobility remaining the important thing income turbines.
Regardless of these optimistic developments, Seize continues to face regulatory scrutiny, notably concerning potential monopoly considerations. The latest evaluation of its proposed acquisition of Trans-Cab by Singaporean authorities exemplifies these challenges.
Whereas the long run holds uncertainties, Seize’s latest achievements and strategic choices counsel an organization on a optimistic trajectory. Its capability to navigate regulatory hurdles and keep monetary momentum might be essential for its continued success within the aggressive Southeast Asian tech panorama.
Sainul,
Editor.
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NEWS ARTICLES
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The tremendous app posted US$11M in revenue for the December 2023 quarter; That is an enchancment from a lack of US$391M in This fall 2022; Its board has authorised an as much as US$500M share repurchase plan for its class A unusual shares.
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Atome CEO David Chen steps down to join GoTo Financial as consumer lending head
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