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In particular, I've been looking closely at business development companies ( BDCs ). What are business development companies? Furthermore, some BDCs, such as Ares Capital, offer more sophisticated financing solutions -- making them appealing to larger publiccompanies as well. BDCs are pretty interesting.
According to a press statement, moving the strategy to the credit group is expected to enable greater collaboration across the Ares platform, enhancing benefits to Ares’s LPs, sponsor partners and portfolio companies.
I'll note that this is the 15th consecutive quarter as a publiccompany in which we have met or exceeded our revenue guidance. In the first quarter, the company closed 71 agreements, including 72 new pilots marking a 117% year-over-year increase in our pilot count.
Our fourth-quarter results reflect the sustained momentum of our SaaS platform, and I'm happy to announce that SaaS ARR represents approximately 23% of total company ARR at year-end. But to briefly review, generative AI represents both opportunities and risks for companies. These are core use cases for Varonis.
One of the world's largest investment management companies signed an agreement recently to move from data center to the cloud over the next three years. The companies continue to try to tighten their belts, scrutinize budgets, SMBs tend to be more sensitive to the macro, right? I think that's very fair on yourself.
I'd like to remind our listeners that remarks made during the call may contain forward-looking statements which are not a guarantee of future performance or results and involve a number of risks and uncertainties that are outside the company's control. The company assumes no obligation to update any forward-looking statements.
We have tested and proven our capabilities across more than 100 programs, and we have done this in partnerships with the top tier of biotech and pharma companies. And third, on the partnering front, our focus is to expand relationships with large biopharma, including deals related to our TCE platform. Happy to take that.
Please note that this conference call is being webcast live, and a recording will be available via telephone playback on the Investor Relations section of the company's website. All statements that address future operating, financial, or business performance or the company's strategies or expectations or forward-looking statements.
We are the first company to introduce a fully unified data and security platform. Brian Essex -- JPMorgan Chase and Company -- Analyst Hi, good afternoon. Brian Essex -- JPMorgan Chase and Company -- Analyst Got it. Brian Essex -- JPMorgan Chase and Company -- Analyst Got it. Operator Thank you. Please go ahead.
This is a tremendous milestone for the company. This is an annualized improvement of over $30 million in adjusted EBITDA as compared to where the company started this year in Q1. This is a $37 billion market opportunity that companies spend every year trying to obtain this critical information and data.
We celebrated the 25th anniversary of BlackRock becoming a publiccompany, and we closed our acquisition of Global Infrastructure Partners. The long-term connectors and our relationships span many years as holders of company debt and equity. We manage $700 billion of insurance company general account assets for them.
They added to their businesses with acquisitions of companies in their respective industries, and we love it when that happens. While we, as a publiccompany, always provide you with the split times quarterly results, we are running a marathon, not a series of sprints. As is always the case, there are challenges at your company.
Wellington’s a fascinating company. Just really a fascinating history from, from a private company to a publiccompany back to a, a partnership. And so we’ve grown from a very small company with 29 partners back in 1979 to, as you noted, over a trillion dollars of assets and it become very diversified.
The forward-looking statements contained in this call represent the company's views on February 8, 2024. It was the first time in our history as a publiccompany where we saw a sequential increase over our seasonally strongest third quarter, making for a difficult year-over-year compare this Q4. These are strategic deals.
data center REIT as a well-positioned but poorly trading publiccompany with tremendous long-term potential. Our BREIT, BIP Infrastructure, and BPP perpetual strategies acquired the company for $10 billion in 2021, and its lease capacity has already grown sixfold in less than three years. The corporate PE funds appreciated 3.4%
Everyone should have access to the company's fourth quarter and full year 2024 earnings release and supplemental information. I refer you to the company's SEC filings for a more detailed discussion of the risks that could impact future operating results and financial condition. Please go ahead. Thanks and good morning.
Company had record revenue 4.9 We're just seeing travel companies left and right really benefiting from the pent-up demand. The company's really struggling to pay off a lot of debt. But with a company like this and with companies that carry heavy debt, how should we think about this? They've paid down about 1.8
And after we got into Y Combinator, basically the very first day, the general counsel who kind of keeps a watch over all the legal tech companies pulls us aside and is like, I don’t think your business idea is very good. A big perpetual insurance company versus lawyers come and go. Eva Shang : Exactly.
Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which is posted on the Investors section of the company's website at macerich.com. dating back 30 years when Macerich first became a publiccompany.
publiccompany by market cap, exceeding the market value of all other asset managers. Our portfolio consists of over 230 companies. Data from our portfolio companies showed that input cost inflation was rapidly declining. Blackstone is now the 55th largest U.S. And Jon referred to this on television today.
Annie Lamont : So, when I joined Oak, which was really just a couple of years out of, out of Stanford, we were founding Genzyme the year that I joined one of the, also very first biotech companies. I said a number of dis drive companies, pc, I mean, we did actually invest in Compact during that period. I remember that one.
GAAP, they should be viewed in addition to and not as a substitute for the company's reported results. That's notwithstanding the fact that many growth companies typically have more scale and depth, and we're progressing toward both. And the Government segment was weaker than we had anticipated based on timing of dealflow.
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