Artificial Intelligence – Page 256

Artificial Intelligence in Genomics Market 2021 Global Growth Rate (CAGR of +52.7%), Application, Technology, Functionality, Drivers, Restraints and Top Company Profiles IBM, Microsoft, NVIDIA Corporation, Deep Genomics

May 7, 2021 Published by Roboticulized.com

ReportsnReports has recently added concise research on the “Artificial Intelligence In Genomics Market 2021: Global Growth Rate (CAGR of +52.7%), Application, Technology, Functionality, Offering, Drivers, Restraints and Top Company Profiles IBM, Microsoft, NVIDIA Corporation, Deep Genomics” to depict valuable insights related to significant market trends driving the industry with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy to understand detailed analysis. All the data and statistics included in this Artificial Intelligence in Genomics Market report leading to actionable ideas, improved decision-making, and better mapping business strategies. This Artificial Intelligence in Genomics Market research report helps the clients understand the various drivers and restraints impacting the industry during the forecast period. This Artificial Intelligence in Genomics Market report provides appropriate solutions to the complex business challenges and initiates an effortless decision-making process. This Artificial Intelligence in Genomics Market research report predicts the size of the market with respect to the information on key retailer revenues, development of the industry by upstream and downstream, industry progress, key companies, key developments, along with market segments and application.

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The global AI in genomics market is projected to reach USD 1,671 million by 2025 from USD 202 million in 2020, at a CAGR of 52.7% between 2020 and 2025. The need to control drug development and discovery costs and time, increasing public and private investments in AI in genomics, and the adoption of AI solutions in precision medicine are driving the growth of this market. However, the lack of a skilled AI workforce and ambiguous regulatory guidelines for medical software are expected to restrain the market growth during the forecast period.

Top players list covered in the Artificial Intelligence In Genomics Market report are:

IBM (US),

Microsoft (US),

NVIDIA Corporation (US),

Deep Genomics (Canada),

BenevolentAI (UK),

Fabric Genomics Inc. (US),

Verge Genomics (US),

Freenome Holdings, Inc. (US),

MolecularMatch Inc. (US),

Cambridge Cancer Genomics (UK),

SOPHiA GENETICS (US),

Data4Cure Inc. (US),

PrecisionLife Ltd (UK),

Genoox Ltd. (US),

Lifebit (UK),

Diploid (Belgium),

FDNA Inc. (US),

DNAnexus Inc. (US),

Empiric Logic (Ireland),

Engine Biosciences Pte. Ltd. (US).

The world is not only fighting a health pandemic but also an economic one, as the Novel Coronavirus (COVID – 19) casts its long shadow over economies around the globe. The complete lockdown situation in several countries, has directly or indirectly impacted many industries causing a shift in activities like supply chain operations, vendor operations, product commercialization, etc. In the latest report on Artificial Intelligence in Genomics Market, published by ReportsnReports, numerous aspects of the current market scenario have been taken into consideration and a concise analysis has been put together to bring you with a study that has Pre- and Post-COVID market analysis. Our analysts are watching closely, the growth and decline in each sector due to COVID – 19, to offer you with quality services that you need for your businesses. The report encompasses comprehensive information pertaining to the driving factors, detailed competitive analysis about the key market entities and relevant insights regarding the lucrative opportunities that lie in front of the industry players to mitigate risks in such circumstances.

Food Enzymes Market worth $3.1 billion by 2026 – Exclusive Report by MarketsandMarkets™

May 7, 2021 Published by Roboticulized.com

According to the new market research report “Food Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Source, Application (Food & Beverages), Formulation, and Region (North America, Europe, Asia Pacific, and South America) – Global Forecast to 2026“, published by MarketsandMarkets, the Food Enzymes Market is estimated to be valued at USD 2.2 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 6.4%, in terms of value. The growing demand for diverse range of food products, clean label trend, and increase in disposable income are the factors that are projected to drive the growth of the food enzymes market globally.

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The microorganism segment is projected to witness significant growth during the forecast period.

Based on source, the food enzymes market is segmented into microorganism, plant, and animal. The microorganism segment is projected to witness the fastest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs and are stable than other sources. They can be produced through fermentation techniques in a cost-effective manner with less time and space requirement, and because of their high consistency, process modification and optimization are easily done.

The carbohydrases segment is projected to account for a major share in the food enzymes market during the forecast period

By type, the food enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Carbohydrases are classified into amylases, cellulases, and other carbohydrases (such as pectinases, lactases, mannanases, and pullulanases). Amylase is used in the baking industry as the addition of amylase to the dough, enhances the fermentation rate which results in the reduction of the viscosity of dough, further improving the volume and texture of the product. Due to easy modification and optimization processes, there is a huge usage of amylase in the food & beverage industry.

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The North American region dominated the food enzymes market with the largest share in 2020, whereas Asia Pacific is expected to witness the highest growth rate.

The food enzymes market in North America was dominant due to the increasing demand for enzymes in food applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the food & beverage industry one of the essential sectors in North America. However, the shift of food operations from developed regions, such as North America and Europe, to Asia Pacific, has further contributed to the growth of the food enzymes market in the Asia Pacific region.

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Key players:

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHR. Hansen Holdings A/S(Denmark), Kerry Group (Ireland), Jiangsu Boli Bioproducts Co., Ltd. (China), Biocatalysts Ltd. (UK), Puratos Group (Belgium), Advanced Enzyme Technologies Ltd (India), Amano Enzyme Inc. (Japan), Enzyme Development Corporation (US), ENMEX, S.A. de C.V. (Mexico), Aumgene Biosciences (India), Creative Enzymes (US), SUNSON Industry Group Co., Ltd (China), AUM Enzymes (India), Xike Biotechnology Co. Ltd. (China), and Antozyme Biotech Pvt Ltd (India).

Unfallkrankenhaus Berlin brings AI to Germany – Aidoc expands presence in Europe

May 6, 2021 Published by Roboticulized.com

Aidoc, the leading provider of AI solutions for medical imaging, announced today its first Enterprise AI radiology adoption in Germany with Unfallkrankenhaus Berlin hospital (ukb) selecting Aidoc’s comprehensive suite of AI solutions to help prioritize and expedite treatment for patients with life-threatening, critical conditions. The Berlin medical center also provides teleradiology services to 20 regional hospitals, allowing patients throughout the area access to top-level medical care.

“The practical use of the AI from Aidoc is a big step towards making time-critical radiological diagnostics safer. For our team of colleagues, this is the first experience with artificial intelligence. It shows that Al provides additional security for patients and radiologists and yet does not do away with an expert,” says Prof. Mutze – Director of the Radiology and Neuroradiology institute at Unfallkrankenhaus Berlin.

Unfallkrankenhaus Berlin is part of the larger BG group of public hospitals focused on emergency services. With a high patient workload both day and night, the newly implemented AI solutions will allow physicians to increase efficiency and save critical time when it matters most.

Aidoc’s solutions support and enhance the impact of radiologist diagnostic power helping them expedite patient treatment and improve quality of care by flagging acute anomalies in real time. To date, the company has secured an industry-leading 7 FDA clearances and 9 CE marks for life-threatening pathologies and is used in over 500 medical centers worldwide. Aidoc’s impact on efficiency and positive patient outcomes has been proven across various facilities including a reduction of 36.6% in turnaround time, 2.8-day reduction in inpatient length stay and 10.4% reduction in ED length of stay.

“We are proud that Unfallkrankenhaus Berlin hospital selected Aidoc for the first deployment of Aidoc’s AI solutions in Germany,” said Alexander Boehmcker, Europe VP for Aidoc. “The German healthcare system is ranked as one of the best in the world, so it’s only natural that hospitals and medical centers recognize the value of AI to assist radiologists with their workload and provide the highest level of care to their patients.”

CARS Reports First Quarter 2021 Results

May 6, 2021 Published by Roboticulized.com

Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading digital marketplace and solutions provider for the automotive industry, today released its financial results for the quarter ended March 31, 2021.

Q1 2021 Financial and Key Metric Highlights

Revenue of $153.3 million, up $5.2 million, or 4% year-over-year
GAAP net income of $5.3 million, or $0.08 per diluted share
Adjusted EBITDA of $48.1 million, or 31% of revenue, up $13.0 million year-over-year
Net cash provided by operating activities of $50.4 million, up 74% year-over-year, with Free Cash Flow of $44.1 million, compared to $28.9 million of net cash provided by operating activities and $23.1 million of Free Cash Flow in the prior-year period
Average Monthly Unique Visitors of 26.0 million, up 4% year-over-year
Traffic of 156.6 million, down 1% year-over-year
Monthly Average Revenue Per Dealer (“ARPD”) of $2,268, up 8% from $2,092 in the prior-year period, representing three consecutive quarters of year-over-year growth
Dealer Customers of 18,823 as of March 31, 2021, up 451, the highest number of additions since the spin-off, compared to 18,372 as of December 31, 2020

Operational Highlights

Became a semi-exclusive provider of website services for FordDirect, opening up a new opportunity to sell to FordDirect’s 3,000 U.S. dealers
Surpassed 10 million vehicle, dealership and salesperson reviews, demonstrating a focus on continuously providing unique content to consumers through digital solutions like DealerRater
Appointed auto industry veteran, Jenell Ross, to CARS’ Board of Directors; Jenell is the President of Bob Ross Auto Group, a leading Midwest dealership, and was recently named to Automotive News‘ 100 Leading Women in the North American Auto Industry

“We maintained strong momentum in our business in the first quarter, delivering continued sequential growth in dealer customers and year-over-year growth in ARPD and across all key financial measures. Our value, which includes our unique organic traffic and industry-leading digital solutions, creates a competitive advantage that attracts and retains dealer customers,” said Alex Vetter, President and Chief Executive Officer of CARS. “So far this year we have seen positive industry trends, an indication of strong consumer demand and continued dealer health. These trends reinforce confidence in our outlook for growth in 2021.”

Q1 2021 Results

Revenue for the first quarter totaled $153.3 million, up $5.2 million, or 4%, compared to the prior year period, due to growth in ARPD driven by increased solutions sales and underlying strength in the Company’s marketplace business.

Total operating expenses were $136.7 million, compared to $1.1 billion for the prior year period, or $147.3 million excluding a non-cash goodwill and intangible asset impairment charge of $905.9 million triggered by the COVID-19 pandemic and related restrictions, which was recorded during the first quarter of 2020. This decrease was driven by the conclusion of affiliate revenue share expense, which had been provided to our prior owners, in the second half of 2020 as well as a reduction in depreciation and amortization expense coupled with continued focus on cost savings and reinvestment in growth areas like innovation.

GAAP net income was $5.3 million, or $0.08 per diluted share, compared to GAAP net loss of $787.4 million, or $11.76 per diluted share, in the first quarter of 2020.

Adjusted EBITDA was $48.1 million, or 31% of revenue, compared to $35.2 million, or 24% of revenue, for the prior-year period.

The Company remains focused on driving high-quality traffic and leads, while continuing to optimize marketing investments. Average Monthly Unique Visitors in the first quarter increased 4% and total traffic was down 1% compared to the first quarter of 2020. Organic traffic was 74% of Traffic and grew 12% year-over-year, fueled by record SEO traffic in the quarter, further demonstrating the unique, high-quality traffic that the Company delivers to its dealer customers. This strength in SEO enabled the Company to reduce planned marketing investments during the quarter.

For the quarter, ARPD was $2,268, up 8% year-over-year and flat compared to the fourth quarter of 2020. The ARPD growth was driven by continued growth in solutions products.

Dealer Customers totaled 18,823 at the end of the first quarter, nearly back to pre-COVID-19 pandemic levels. Growth in both marketplace and solutions-only Dealer Customers drove the 451 sequential increase.

Cash Flow and Balance Sheet

Net cash provided by operating activities in the first quarter was $50.4 million, up 74% compared to $28.9 million in the prior year. Free Cash Flow in the first quarter was $44.1 million, compared to $23.1 million in the prior year.

Total liquidity was $283.7 million, including cash and cash equivalents of $53.7 million and $230.0 million of revolver capacity, as of March 31, 2021. The Company made $52.5 million in debt repayments during the first quarter, of which $50.0 million was voluntary, reducing total debt outstanding to $545.0 million as of March 31, 2021. Total net leverage as of March 31, 2021 was 2.9x and senior secured leverage was 0.9x, compared to maximum allowable senior secured leverage of 3.5x, in accordance with the Company’s credit agreement.

“Our thriving digital solutions strategy enabled us to deliver strong financial performance in the quarter and gives us confidence in our second quarter guidance for continued growth in revenue and Adjusted EBITDA. Our balance sheet remains strong, giving us ample flexibility to opportunistically pay down debt and continue our investments in product innovation, marketing and talent acquisition supporting and enabling dealers to meet consumers in both physical and digital channels,” said Sonia Jain, Chief Financial Officer of CARS.

Outlook

For the second quarter of 2021, revenue is expected to be approximately $152 million to $154 million. The Company expects to deliver strong year-over-year Adjusted EBITDA growth while investing in the business, resulting in Adjusted EBITDA margins for the second quarter of approximately 28% to 30%.

Q1 Earnings Call

As previously announced, management will hold a conference call and webcast today at 9:00 a.m. CDT. This webcast may be accessed at investor.cars.com. A replay of the webcast will be available at this website following the conclusion of the call until May 20, 2021.

MDI, TDI, and Polyurethane Market worth $105.3 billion by 2026 – Exclusive Report by MarketsandMarkets™

May 6, 2021 Published by Roboticulized.com

According to the new market research report “MDI, TDI, and Polyurethane Market by Application (Flexible Foams, Rigid Foams, Paints & Coatings, Elastomers, Adhesives & Sealants), End-Use (Construction, Furniture & Interiors, Electronics & Appliances, Automotive, Footwear) – Global Forecast to 2026″, published by MarketsandMarkets, the market is projected to reach USD 105.3 billion by 2026, at a CAGR of 6.2% from USD 77.9 billion in 2021. MDI (methylene diphenyl diisocyanate) and TDI (toluene diisocyanate) are diisocyanates, which are primarily used as raw materials for polyurethane. Polyurethane is a synthetic resin composed of organic units connected by a urethane linkage. It is mainly prepared by reacting diisocyanates, MDI, and/or TDI with a range of polyols (polyester and/or polyether polyols).

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Browse in-depth TOC on “MDI, TDI, and Polyurethane Market“

256 – Data Tables

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Flexible foam is the largest application segment of the MDI, TDI & polyurethane market. APAC was the largest market for MDI, TDI & polyurethane in 2020, in terms of value. Factors such as compliance with energy regulation, environmental sustainability need, and versatility & unique properties will drive the MDI, TDI & polyurethane market.

Rigid Foams is projected to be fastest-growing application for MDI, TDI & Polyurethane market between 2021 and 2026

Rigid foams are low-to-high density foams with higher stiffness levels. These foams find uses across various applications but are primarily used as insulating foams and structural foams in the construction industry. They are used in simulated wood and RIM (Reaction Injection Molding) plastics. These are also used as insulating foams and structural foams. Rigid foams have one of the highest insulating R-values per inch ranging from R 5.5 to R 8 per inch and are strong, lightweight, low-density structures that are both dimensionally stable and moisture resistant with low vapor transmission.

The major uses of the rigid foams are in commercial and residential construction for board and laminate insulation and foam roofing. It is also used as insulation in appliances such as water heaters, refrigerators, coolers, vending machines, and freezers. Other important rigid foam outlets include industrial insulation for pipes and tanks. MDI-based rigid foam is one of the best insulation materials available, and it helps in considerable energy savings. An upcoming market for rigid foams is the automotive market, where they are not only used for seats and vehicle interiors but are also being tried in other body parts such as vehicle exteriors to reduce vehicle weight. They have significant environmental benefits, as they help in saving energy and reducing weights and costs of buildings.

Electronic & appliances is projected to be the fastest-growing end-use industry in polyurethane market between 2021 and 2026

Polyurethane is an important component used in major consumer goods and appliances. They are commonly used in appliances in the form of rigid foams. Rigid and flexible polyurethanes are most widely used as insulators in the appliance industry. The key products using polyurethane foams include televisions, refrigerators, air conditioners, and microwaves. Polyurethane is ideal for the insulation of refrigerating appliances and have other advantages such as robustness & strength and lightweight, thus reducing logistics costs and providing cost-effective manufacturing solution, with multiple operations. Polyurethane is used for both refrigerator housing and insulation, depending on their density. Polyurethane also reduces the need for multiple surface coating to enhance the finish without any additional post-finishing requirement. Polyurethane foams are used in air and water filter media of air conditioners. These foams are porous, washable, lightweight, and have high resistance to mildew. Polyurethane foams seal out dust, air, and water near the window and also reduce excessive vibration and noise.

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APAC projected to be fastest growing region for the MDI, TDI & Polyurethane market during the forecast period

Asia-Pacific is one of the most crucial markets of MDI, TDI, and Polyurethane. In terms of global plastic consumption. Owing to the current economic conditions in mature markets such as the U.S. and Western Europe and rapidly increasing domestic consumption, Asia-Pacific has emerged as the leading produces as well as consumer of MDI, TDI, and polyurethane. The construction and bedding & furniture sectors of the region have a leading share in the polyurethane market. Transportation, automotive, and footwear manufacturers are setting up or expanding their manufacturing bases in this region to leverage from the low manufacturing cost. China dominates the MDI, TDI, and polyurethane market in Asia-Pacific. The growing construction industry in the country as well as rebound in construction activities are the main drivers for the MDI, TDI, and polyurethane market

The key market players profiled in the report include BASF SE (Germany), The Dow Chemical Company (US), DuPont De Nemours, Inc. (US), Huntsman Corporation (US), Covestro AG (Germany), LANXESS AG (Germany), Mitsui Chemicals Inc. (Japan), Wanhua Chemical Group Co. Ltd. (China), and Woodbridge Foam Corporation (Canada).

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Browse Adjacent Market: Foam and Insulation Market Research Reports & Consulting

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https://www.marketsandmarkets.com/Market-Reports/biodegradable-plastics-93.html

Polyurethane Elastomers Market by Type (Thermoset Polyurethane Elastomers and TPU Elastomers), Application (Footwear, Automotive & Transportation, Industrial Machinery, Building & Construction), and Region – Global Forecast to 2022

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Parallel Wireless Announces ALL G O-RAN Solution Milestone

May 6, 2021 Published by Roboticulized.com

Parallel Wireless, Inc., the U.S.-based Open RAN company delivering the world’s leading All G, cloud-native Open RAN solution on 6 continents has now reached significant milestones enabling both rural and urban wireless networks.

Parallel Wireless’s ORAN vision has always been that rural macro success is a natural and necessary pre-requisite for enabling the superset of features required for urban network scenarios. More than 50 Mobile Network Operators (MNOs) including Inland Cellular and OptimEra in North America, Vodafone in Ireland, Africa and Turkey, and Optus in Australia, have successfully deployed or trialed rural 2G, 3G, and 4G from Parallel Wireless. Concurrently, Parallel Wireless has advanced through the 3GPP and O-RAN Alliance release roadmap and now our innovative cloud-native, All-G Open RAN solution is supporting the foundational features and capabilities for strong network performance in high-capacity urban environments.

Parallel Wireless delivers innovation in urban Open RAN with:

O-RAN compliance to enable 7.2 radio and server ecosystem to deploy, upgrade, expand and maintain wireless networks cost-effectively. Components include commercial-off-the-shelf (COTS) vBBU hardware which enables Open RAN radios from the ecosystem, resource orchestration, network slicing and subscriber management across All Gs in high capacity and high-density environments.
Scalability through a container based DU/CU implementation, across All Gs, to deliver OPEX and CAPEX savings and speeds time to market for new services and features. Cloud-native state-of-the-art features such as RAN automation, self-configuration, hands free software testing, integration and delivery, Artificial Intelligence (AI) and Machine Learning (ML) enable seamless software upgrades and utilizing data to optimize network performance in urban environments to deliver optimal subscriber throughput and quality of service.

Keith Johnson, President, Parallel Wireless, “Parallel Wireless is proud to lead the charge in Open RAN innovation, supporting our customers on their network evolution journey from rural to urban O-RAN compliant deployments. Deploying cloud-native, O-RAN compliant Open RAN across ALL Gs, with a broad ecosystem of partners, drives the cost down for rural and now urban deployments and allows MNOs to cost-effectively unleash the full potential of their networks as they migrate to 5G and beyond.”

Dimitris Mavrakis, Analyst, ABI Research, “The Open RAN movement is allowing the transition from a limited number of verticalized vendors with proprietary “end-to-end” solutions to an open market and “best-of-breed” hardware and software from a wide ecosystem of vendors. According to our research, Open RAN is expected to reach a total market of US$30 billion in 2030, climbing higher than the traditional RAN market. Open RAN has been successfully deployed in rural networks across the globe and now current market conditions are favorably accelerating the development of Open RAN in urban environments as Mobile Network Operators prepare for the future of 5G.”

To learn more about the new Parallel Wireless Urban Solution visit our website.

Parsons Reports First Quarter 2021 Results

May 6, 2021 Published by Roboticulized.com

Parsons Corporation (NYSE: PSN) today announced financial results for the first quarter ended March 31, 2021.

CEO Commentary

“We delivered strong bookings and significant margin expansion with results in line with our internal expectations and historical seasonal patterns. We continue to win large new contracts and I credit that to our focus on technology solutions and our exceptional team,” said Chuck Harrington, chairman and chief executive officer of Parsons Corporation.

“We are off to a strong start to the second quarter with approximately $1 billion of awards, and we are excited about our positions in growing and enduring markets in both segments. Revenue growth will accelerate while margins will continue to expand and free cash flow conversion will remain strong as we benefit from our technology solutions aligned with the Biden Administration’s infrastructure and defense priorities and as we move beyond COVID and pass-through revenue headwinds. We will also continue to leverage our robust balance sheet for accretive acquisitions in line with our targeted M&A strategy.”

First Quarter 2021 Results

Total revenue for the first quarter of 2021 decreased by $96 million, or 10%, from the prior year period to $875 million. This decrease was primarily driven by $64 million of contract work impacted by the COVID-19 pandemic and lower pass-through revenue. Operating income increased 8% to $26 million primarily due to increased contract profitability, including contributions from the company’s high-margin Braxton acquisition. Net income decreased to $9 million and net income margin decreased to 1.0% from the prior year period. Diluted earnings per share (EPS) attributable to Parsons was $0.09 in the first quarter of 2021, compared to $0.13 in the prior year period.

Adjusted EBITDA including noncontrolling interests for the first quarter of 2021 was $69 million, a 14% increase over the prior year period. Adjusted EBITDA margin increased 170 basis points to 7.9%. Adjusted EPS increased to $0.34, compared to $0.33 in the first quarter of 2020.

Segment Results

Federal Solutions Segment

	Three Months Ended						Growth
	March 31, 2021			March 31, 2020			Dollars/ Percent			Percent
Revenue	$	452,069		$	477,571		$	(25,502)			-5	%
Adjusted EBITDA	$	32,057		$	31,709		$	348			1	%
Adjusted EBITDA margin		7.1	%		6.6	%		0.5	%		7	%

First quarter 2021 revenue decreased $26 million, or 5%, compared to the prior year period primarily due to approximately $27 million of net contract work impacted by COVID-19 and lower pass-through revenue, and contract transitions, offset by $31 million of acquisition revenue.

First quarter 2021 Federal Solutions adjusted EBITDA including noncontrolling interests increased by $0.3 million, or 1%, compared to the prior year period. Adjusted EBITDA margin increased 50 basis points to 7.1% from the first quarter of 2020. Adjusted EBITDA was relatively flat with the prior year period and the increase in adjusted EBITDA margin was driven by increased contract profitability and contributions from the Braxton acquisition.

Critical Infrastructure Segment

	Three Months Ended						Growth
	March 31, 2021			March 31, 2020			Dollars/ Percent			Percent
Revenue	$	422,628		$	493,422		$	(70,794)			-14	%
Adjusted EBITDA	$	36,642		$	28,787		$	7,855			27	%
Adjusted EBITDA margin		8.7	%		5.8	%		2.8	%		49	%

First quarter 2021 Critical Infrastructure revenue decreased $71 million, or 14%, compared to the prior year period. The decrease was primarily driven by approximately $37 million of net contract work impacted by COVID-19 and lower volume on contracts with pass-through revenue, as well as contract transitions.

First quarter 2021 adjusted EBITDA including noncontrolling interests increased by $8 million, or 27%, compared to the prior year period. Adjusted EBITDA margin increased 280 basis points to 8.7%. These increases were primarily driven by lower selling, general and administrative expenses and increased contract profitability.

First Quarter 2021 Key Performance Indicators

Book-to-bill ratio (first quarter): 1.2x on net bookings of $1.0 billion. Book-to-bill ratio (trailing twelve-months): 1.1x on net bookings of $4.2 billion.
Total backlog: $8.2 billion, a 4.7% increase from the first quarter of 2020.
Cash flow used in operating activities: First quarter 2021:$66 million, compared to cash flow used in operating activities of $119 million in the first quarter of 2020.
Net Debt: Cash and cash equivalents were $398 million and total debt was $640 million. The company’s net debt to trailing twelve-month adjusted EBITDA leverage ratio at the end of the first quarter of 2021 was 0.7x. The company defines net debt as total debt less cash and cash equivalents.

Recent Significant Contract Wins

Parsons continues to win large strategic contracts in growing and enduring markets. During the first quarter of 2021, the company won six contracts worth over $100 million. In addition, since the end Q1 2021, the company has won contracts totaling approximately $1 billion to date.

Awarded a $618 million contract by the General Services Administration (GSA) after the end of Q1 2021 for solutions that advance C5ISR, exercises, operations, and information services (CEOIS) for global partners including the Combatant Commands, Department of State, service components and Director of National Intelligence agencies.
Booked $140 million of work under the U.S. Postal Service’s (USPS) Nationwide Program Management Services (PMS) contract. Parsons’ experience in program management, architectural and engineering design, and construction management supports the USPS’ ongoing modernization and Americans with Disabilities Act access efforts ensuring uninterrupted delivery of reliable and affordable mail service to our nation and expanding access to USPS facilities.
Awarded a $114 million contract by Ashghal, the Public Works Authority of Qatar (PWA), to provide program and construction management services. Parsons has been a trusted partner for the PWA for over 20 years, and this project will continue to enhance the state of Qatar’s infrastructure by improving livability for residents and advancing future development plans.
Awarded an $80 million contract for program management by the Architect of the Capitol, Washington D.C., ensuring the continued progress and excellence of their projects from the U.S Capitol Campus; Northern Virginia; Fort Meade, Md.; and the Blue Plains Complex located in S.E Washington, D.C.
Awarded a 94 million CAD (~ $75 million USD) contract for new construction management work for remediation efforts on the Giant Mine in the Northwest Territories, Canada. The amended contract, for one of the largest environmental remediation projects in Canada, includes freeze pad construction for the highly innovative thermosyphon-based process that will freeze the arsenic trioxide waste in place at the mine improving the environment and health and safety of local residents and wildlife.
Awarded a $69 million contract by the U.S. Army Combat Capabilities Development Command Army Research Laboratory to develop exploratory, disruptive technology that will provide United States warfighters with the technological edge as part of the Army’s future vision.
Awarded a $45 million contract by the Central Texas Regional Mobility Authority for design work on improvements to United States Highway 183. These improvements will advance mobility goals in the region, providing a reliable transit route for motorists and emergency response crews, while building connections for shared use, including sidewalks and paths for bicycles and pedestrians with goals of reduced carbon emissions and improved safety for motorists, pedestrians, and cyclists.
Awarded a $12.6 billion multiple-award indefinite-delivery, indefinite-quantity (IDIQ) contract by the Defense Intelligence Agency (DIA) for the Solutions for Information Technology Enterprise III (SITE III). The SITE III contract provides managed services directed towards improving integration, information sharing, and information safeguarding through the use of a streamlined information technology (IT) approach.
Awarded a $2 billion multiple-award IDIQ contract by the U.S. Air Force Civil Engineer Center for architecture engineering capabilities, including design, construction management, and the restoration and modernization of Air Force Bases worldwide. Parsons looks forward to bringing advances in energy efficiency, climate resiliency, and application of renewable sources to maximize each installation’s potential and drive overall mission success.
Awarded a $250 million multiple-award IDIQ contract by the Naval Information Warfare Center (NIWC) Pacific for research, development, test, and technical engineering for maritime intelligence, surveillance, and reconnaissance (ISR) and information operations.
Awarded a $100 million multiple-award IDIQ contract by NIWC Pacific for support in the identification, implementation, development, and enhancement of Command, Control, Communications, Computers, & Intelligence (C4I) and the network-centric warfare.

Recent Additional Corporate Highlights

Parsons continues to be recognized for its long-standing industry leading Environmental, Social and Governance (ESG) initiatives. During the quarter, Parsons won distinguished awards for its hiring, diversity, and ethical business practices. In addition, the company updated its executive compensation policies to tie a portion to its core values.

Announced that Parsons’ board of directors elected Carey Smith as chief executive officer, effective July 1st, 2021. Ms. Smith succeeds Charles “Chuck” Harrington, who announced his retirement after nearly 40 years with the company. Harrington will continue to serve on Parsons’ Board as executive chairman upon his retirement.
Recognized as a top 50 company by both Minority Engineer Magazine and Woman Engineer Magazine. These publications select the top companies in the country for which they would most like to work or whom they believe would provide a positive working environment for minority and women engineers.
Recognized by the Human Rights Campaign Foundation’s 2021 Corporate Equality Index for its active support and inclusion of the lesbian, gay, bisexual, transgender, questioning (LGBTQ+) community.
Named by Ethisphere as one of the 2021 World’s Most Ethical Companies^®. The company has been honored with this recognition for 12 consecutive years.
Parsons’ Braxton subsidiary has been awarded the prestigious Tibbitts Award, which recognizes excellence in Small Business Innovation and Research (SBIR) and Small Business Technology Transfer efforts.
Parsons Board meets quarterly to discuss its ESG initiatives and starting in 2021 the company’s CEO and other named executive officers will have a portion of their annual bonuses tied to the company’s core values of diversity, integrity, safety, sustainability, quality, and innovation, of which employee diversity is the largest component.

Fiscal Year 2021 Guidance

The company is reiterating the fiscal year 2021 guidance it issued on February 24, 2021, based on its financial results for the first quarter of 2021 and its current outlook for the remainder of year. The table below summarizes the company’s fiscal year 2021 guidance.

	Fiscal Year 2021 Guidance
Revenue	$3.85 billion – $4.05 billion
Adjusted EBITDA including non-controlling interest	$350 million – $375 million
Cash Flow from Operating Activities	$280 million – $310 million

Net income guidance is not presented as the company believes volatility associated with interest, taxes, depreciation, amortization and other matters affecting net income, including but not limited to one-time and nonrecurring events and impact of M&A, will preclude the company from providing accurate net income guidance for fiscal year 2021.

Conference Call Information

Parsons will host a conference call today, May 5, 2021, at 8:00 a.m. ET to discuss the financial results for its first quarter 2021.

Listeners may access a webcast of the live conference call from the Investor Relations section of the company’s website at www.Parsons.com. Listeners may also access a slide presentation on the website, which summarizes the company’s first quarter 2021 results. Listeners should go to the website 15 minutes before the live event to download and install any necessary audio software.

Listeners may also participate in the conference call by dialing +1 866-987-6581 (domestic) or +1 602-563-8686 (international) and entering passcode 6499894.

A replay will be available on the company’s website approximately two hours after the conference call and continuing for one year. A telephonic replay also will be available through May 12, 2021 at +1 855-859-2056 (domestic) or +1 404-537-3406 (international) and entering passcode 6499894.

Ferme d’Hiver completes seed round and secures large-scale industrial deployment

May 5, 2021 Published by Roboticulized.com

Ferme d’Hiver announces that it has completed its seed round that allows it to ensure the development of its technological solution and its industrial deployment. Investissement Québec reiterates its confidence in the company and confirms an investment of 2 million dollars coming from its own funds, in addition to the 1.5 million already committed in order to support its growth. Two other Montreal-based investors, Mavrik Canada LLC and Haystack, have also decided to jointly inject 3 million dollars into the business.

Furthermore, the Government of Quebec grants 1.7 million dollars in financial assistance to Ferme d’Hiver in order to support the construction of its first vertical farm on the property of Serres Vaudreuil. This farm, which covers an area of 1,252 m2, is currently being set up and the production of Winter Berry will begin in October 2021. The government’s financial support includes a 1.2 million dollars loan issued through the ESSOR program, administered by Investissement Québec for the Government of Quebec, and a loan guarantee of $500,000 granted by the Financière agricole du Québec (FADQ).

“This seed round will allow Ferme d’Hiver to accelerate the deployment of its technological solution among Quebec’s fruit and vegetable growers who are interested in producing during the winter season. We have already been holding discussions with many growers in order to reach partnership agreements“, indicated Alain Brisebois, Ferme d’Hiver’s President and Chief Executive Officer.

Financial support from Quebec’s governing bodies
Investissement Québec, the Quebec Government’s principal economic development lever, counts among Ferme d’Hiver’s very first partners and it now renews its commitment to the company.

“We are happy to reiterate our support for Ferme d’Hiver and to contribute to the development of their innovative solution, which addresses agricultural and environmental issues“, mentioned Guy LeBlanc, President and Chief Executive Officer of Investissement Québec. “By doing so, Investissement Québec fully assumes its role of supporting promising young businesses, developing our regional economies and promoting local production, particularly in the agricultural sector.”

“Our government is proud to support the realization of this sustainable and innovating investment project, which will allow for local and durable agricultural production. Privileging local production and the purchase of Quebec-made products year-round is an excellent way to contribute to our economic recovery. I salute Ferme d’Hiver and its partner-growers for their ambition in participating in the expansion of our food self-sufficiency, while also aiming to increase their exports“, said Lucie Lecours, Minister for the Economy.

“With this project, Ferme d’Hiver joins Quebec’s collective will in reinforcing its food self-sufficiency by offering quality local market garden products, grown in an environmentally responsible way. The construction of this vertical farm will also contribute in attaining the objective laid out in the Greenhouse Growth Strategy, which aims to double greenhouse production areas in Quebec by 2025“, stated André Lamontagne, Minister of Agriculture, Fisheries and Food, and Minister responsible for the Centre-du-Québec region.

New investors
Thanks to its unique technology, Ferme d’Hiver succeeded in attracting the interest of strategic investors who believe in the Quebec company’s agro-technology solution. Thusly, Ferme d’Hiver can count on the support of Haystack and Mavrik, two private investment funds who have jointly injected 3 million dollars into the business, thereby demonstrating the value of the solution proposed by the Quebec-based company.

Haystack is an investor group based in Montreal, who has begun contributing and betting on the growth of several companies active in various sectors in Quebec and Asia. “The Ferme d’Hiver team imagined and continues to develop an incredible solution and we are very excited by the idea of participating in the expansion of the company. It will bring about a major evolution in off-season fruit and vegetable production, in an ecological and profitable way“, explained Alexandre Panneton, group partner.

Mavrik is a Montreal-based family business which leads a wide range of investment and financing activities in several asset categories. Mavrik focuses on innovation, entrepreneurship and responsible investing. “We like leaders who strive to bring paradigm shifts in the areas of environmental sustainability, food production, agriculture and social responsibility. It was therefore very natural for Mavrik to associate itself with Ferme d’Hiver, an innovative company founded in Quebec“, elaborated Mark Pathy, President and Chief Executive Officer of Mavrik Canada LLC.

A unique technology which allows for industrial scaling
Ferme d’Hiver is not only about Winter Berry production. Above all, it is the development of a solution that is unique in the world. This solution, developed in Quebec, is a mixture of technological and agronomic know-how.

Beyond the year-round production of summer fruits and vegetables, the product imagined by the company also allows to save energy while eliminating greenhouse gas emissions.

“Looking forward, we really want to create a network of growers capable of contributing to our food self-sufficiency and even create an export market of fresh fruits and vegetables“, explains Yves Daoust, Founder and Chief Operating Officer of Ferme d’Hiver. “A winter farm can produce up to 9 times the square meter volume of a greenhouse and retrieve over 80% of the energy consumed to heat an adjacent greenhouse 5 times its size. This combination is the most efficient and most profitable solution when producing a very wide range of fruits and vegetables year-round.”

A multiplied production
Through its vertical density and climate control, Ferme d’Hiver allows for the annual production of over 160 kilos of strawberries by square meter. The profitability is therefore assured as of Year One. Through its partner-growers, the objective is to replace 10% of strawberry imports within three years, and to contribute in improving the profitability of greenhouse production, thereby strengthening our food sovereignty.

Although the installations at Les Serres Vaudreuil will be small-scale, this winter farm, by itself, will practically double the volume of strawberries produced in Quebec during winter.

To learn more about Ferme d’Hiver’s innovative solution, consult our website: https://fermedhiver.ca/?lang=en. You can consult the media kit here and visuals here.

Walker & Dunlop to Acquire Industry-Leading Housing Research and Investment Banking Firm Zelman & Associates

May 5, 2021 Published by Roboticulized.com

Walker & Dunlop, Inc. announced today that it has entered into an agreement to acquire a controlling interest in Zelman & Associates (“Zelman”), the leading housing research and investment banking firm in the United States.

Founded in 2007 by Ivy Zelman and Dennis McGill, Zelman has earned an impressive reputation among institutional investors and business executives alike for its unbiased, in-depth research, insightful analysis and trusted advisory services. Zelman’s research is differentiated by its tenured housing experience, proprietary surveys anchored by an unparalleled network of executive-level leaders, and an acute ability to identify and synthesize developing investment and fundamental themes. The firm’s expertise spans macro, sector and company-specific trends across all areas of housing, including homebuilding, building products, demographics, multifamily, single-family rentals, mortgage finance and real estate technology and services. Zelman also operates an investment bank, led by Tony McGill, focused exclusively on the housing sector. The Zelman team has an extensive track record in the M&A, debt and equity transaction markets, including private debt and equity placements, IPOs and secondary equity offerings, public debt underwritings, project and platform-specific capital raises, corporate valuations and buy and sell-side M&A advisory services.

Walker & Dunlop Chairman and CEO Willy Walker stated, “We are extremely excited to be joining forces with Zelman, one of the most recognizable brands in the housing industry known for high-quality research and must-read opinions on the sector. The combination of our two companies from a research and data standpoint will provide our bankers and brokers with unrivaled insight into the housing sector and local markets in support of their clients and transactions, and firmly establish Walker & Dunlop as the preeminent resource for housing investors and business leaders. The single-family and multifamily housing industries are converging within the single-family rental and build-for-rent asset classes, and Zelman’s unique research and Walker & Dunlop’s banking and brokerage operations will be a powerful combination as these asset classes are further institutionalized.”

Mr. Walker continued, “We are also incredibly excited to add Zelman’s investment banking platform to Walker & Dunlop. Investment banking is a key component of Walker & Dunlop’s Drive to ’25, and we plan to invest in the business to expand Zelman’s coverage, with a priority focus on the multifamily and single-family rental sectors. Zelman’s reputation as an industry leading independent investment bank, and extensive experience providing M&A advisory services and capital markets solutions for billions of dollars in transactions throughout the housing sector, will be a wonderful foundation upon which to build our broader business. The addition of Zelman’s research and investment banking professionals further cement Walker & Dunlop as a trusted and valuable partner to our clients.”

Zelman Chief Executive Officer Ivy Zelman commented, “Since our firm’s founding nearly 14 years ago, the Zelman team has been unwavering in our commitment to extremely high-quality research, elite client service and the utmost integrity behind our opinions and advice. I believe that Walker & Dunlop directly aligns with these values and that our research and insights will be extremely beneficial to the company’s talented bankers, brokers and client base. In turn, we will expand our research and data analytics capabilities by gaining access to W&D’s firsthand market intelligence, management of a massive loan servicing portfolio, existing technologies, and wonderfully innovative marketing capabilities. We are excited to continue growing our housing-focused research and investment banking businesses in partnership with the #1 capital provider to the multifamily industry.”

Zelman & Associates is based in New York, NY and Cleveland, OH and has 25 employees, all of whom will join Walker & Dunlop upon closing of the acquisition. Completion of the transaction is subject to customary consents and regulatory approvals and is expected to close during the third quarter 2021.

Accelleran, a global leader in 4G/5G Cloud-Native OpenRAN platforms, raises Series B financing to accelerate its growth in support of roll out of 5G networks worldwide

May 5, 2021 Published by Roboticulized.com

Accelleran, a leading provider of OpenRAN software solutions for 4G/5G networks announced a EUR 6,8M Series B funding round led by Cogito Capital Partners, with participation of Qbic, and existing investors Capital-E and AAAF. The funding will be used by the company to fuel its global expansion.

As 5G network deployments accelerate across the globe and the OpenRAN system of standards gathers momentum, service providers from mobile operators, to edge computing infrastructure providers, to system integrators are turning to Accelleran’s proven 4G/5G RAN cloud-native software. 5G networks provide an enhanced broadband experience with speeds of up to 1 Gbps and latency of 10ms, as well as a platform for cloud and AI-based services. The global 5G services market is expected to exceed US$250 Bn by 2027, according to Acumen Research.

Belgium-based Accelleran provides OpenRAN Software solutions for operators of 5G networks. With Accelleran’s unique software architecture, clients unlock the true potential of software-defined networks, network virtualization, and RAN intelligence to better manage private, public, and neutral-host networks. Accelleran’s dRAX delivers proven containerized software components to enable real-world deployment of multi-vendor, intelligent, and disaggregated OpenRAN, in alignment with the open standards such as the O-RAN Alliance. These Cloud-Native components deliver reliable, cost-effective, and scalable solutions for both 4G and 5G networks, including artificial intelligence-based automation.

“From its inception, Accelleran has been a pioneer in applying cloud-based virtualization software architectures to mobile telecom, what is now commonly known as Open or Virtual RAN,” said Frederic van Durme, CEO of Accelleran. “The new financial backing and domain expertise of Cogito and Qbic, and the continued support of Capital-E and AAAF, will allow us to realize our mission to become a global, independent provider of mission critical software components for the RAN.”

“We are excited about Accelleran’s prospects and impressed with the quality and scalability of the platform they’ve developed,” said Martin Jasinski, Cogito’s General Partner. “We are strong believers in the future of OpenRAN-based, private 5G networks and see Accelleran as one of the emerging global leaders in a market that is about to enter a hypergrowth phase.”

“Through this Series B funding, we are pleased to support Accelleran’s further development, and look forward to working with them as they address the huge market opportunity around disaggregated RAN,” said Sofie Baeten, Managing Partner at Qbic.

“We look forward to continuing to support Accelleran, together with new investors, in building out key go-to-market partnerships, with particular focus on the US and European markets,“ said Marc Wachsmuth, Managing Partner at Capital-E.

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