Company Overview - Aeries Technology, Inc. (NASDAQ:AERT) is a global professional services and consulting partner, focusing on businesses in transformation mode and their stakeholders, including private equity sponsors and portfolio companies [4] - Founded in 2012, Aeries Technology employs over 1,600 professionals specializing in Technology Services and Solutions, Business Process Management, and Digital Transformation initiatives [4] - The company has received the Great Place to Work Certification, highlighting its effective approach to staffing and workforce development [4] Conference Participation - Aeries is confirmed to present at the 2024 Annual Gateway Conference, scheduled for September 4-5 at the Four Seasons Hotel in San Francisco, CA [1] - The management team will present on September 5 at 8:30 a.m. Pacific Time, with executives available for one-on-one meetings throughout the conference [1] Gateway Conference Insights - The Gateway Conference celebrates 25 years of connecting growth-stage companies with prospective investors, analysts, and partners [2] - The event provides an exclusive platform for over 100 public and private companies to present their stories across various sectors, including technology, cleantech, consumer, industrials, financial services, and healthcare [2]

Group 1 - Aeries Technology, Inc. received a deficiency notification from Nasdaq for failing to timely file its Annual Report on Form 10-K for the fiscal year ended March 31, 2024 [1][2] - The company has 60 calendar days to submit a compliance plan to Nasdaq, with a potential extension of up to 180 days to regain compliance [2] - Aeries Technology is actively working to complete and file the Fiscal 2024 Form 10-K and intends to take necessary steps to comply with Nasdaq's listing rules [2] Group 2 - Aeries Technology is a global professional services and consulting partner, specializing in technology services, business process management, and digital transformation [3] - Founded in 2012, the company has over 1,700 professionals and focuses on providing tailored solutions to drive business success [3] - Aeries Technology has received the Great Place to Work Certification for its approach to staffing and workforce development [3]

Core Insights - Aeries Technology has announced a strategic partnership with Victory Live to establish a Global Capability Center (GCC) in Hyderabad, India, aimed at enhancing technology and operational efficiencies in the ticketing industry [1][2][3] Company Overview - Aeries Technology, founded in 2012, specializes in professional services and consulting for businesses undergoing transformation, with over 1,600 professionals focused on Technology Services, Business Process Management, and Digital Transformation [4] Strategic Partnership - The partnership with Victory Live is designed to leverage global technology talent and optimize operational efficiencies, setting new standards in the ticketing industry through collaboration and innovation [2] - The GCC in Hyderabad will focus on building a team of engineers specializing in Data Analytics and Integrations, reinforcing Aeries' commitment to innovation [1][3] Operational Goals - The GCC aims to consolidate Victory Live's global talent, enhance collaboration, and achieve significant cost savings, thereby creating a streamlined approach to innovation and development [2] - This initiative is seen as a pivotal move for both companies to revolutionize the ticketing industry and set industry benchmarks [3]

Group 1 - Aeries Technology, Inc. has entered into a Subscription Agreement totaling $5 million at a purchase price of $2.21 per share in a private placement [1] - The CEO of Aeries, Sudhir Panikassery, emphasized that this investment is a significant step for the company's growth strategy and expressed gratitude for the support from the new PIPE investor [1] - Norton Rose Fulbright represented Aeries Technology in this transaction [1] Group 2 - Aeries Technology is a global professional services and consulting partner, focusing on businesses in transformation mode, including private equity sponsors and their portfolio companies [2] - The company was founded in 2012 and currently employs over 1,600 professionals specializing in Technology Services and Solutions, Business Process Management, and Digital Transformation initiatives [2] - Aeries Technology has received the Great Place to Work Certification for its approach to staffing and workforce development [2]

Financial Data and Key Metrics Changes - For Q3 2024, the company's revenue was $18.9 million, representing a 49% year-over-year growth, driven by new client acquisitions [5][13] - Year-to-date revenue for the first three quarters was $52.8 million, reflecting a 39% increase compared to the same period last year [6][13] - Adjusted EBITDA for Q3 2024 was $2.4 million, showing a decrease of less than 1% year-over-year, which was in line with expectations [16] - The company reported a GAAP net loss of $16.4 million for Q3 2024, compared to a net loss of $270,000 in the same period of 2023 [16] Business Line Data and Key Metrics Changes - The gross profit for Q3 was $6 million, a 161% increase year-over-year, resulting in a gross margin of approximately 32%, up from 18% in the same period last year [14] - The revenue mix has shifted towards higher-margin services such as digital transformation, AI, and analytics, positively impacting gross margins [14] Market Data and Key Metrics Changes - North America accounted for approximately 77% of the company's revenue in the quarter and fiscal year-to-date [7] - The company opened a new center of excellence in Mexico to better serve North American customers, indicating a strategic focus on near-shoring [7][8] Company Strategy and Development Direction - The company is executing a growth strategy focused on acquiring new clients and expanding services in digital transformation and AI [5][11] - A dual-shoring strategy is being implemented, combining near-shoring in Mexico with existing operations in India to enhance service delivery and reduce costs [8] - The company is also evaluating acquisition targets to drive inorganic growth [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing momentum in new client acquisition and the expected revenue growth of 40% to 54% in calendar year 2024 compared to 2023 [11][16] - The management highlighted a positive trend in client retention and the availability of talent, indicating an easier labor market compared to previous years [31] Other Important Information - SG&A expenses for Q3 were $5.3 million, a 162% increase year-over-year, primarily due to legal and professional services related to the company's transition to a public entity [15][16] - The company expects total revenue for calendar year 2024 to be between $95 million and $105 million, with adjusted EBITDA projected between $16 million and $20 million [16] Q&A Session Summary Question: How many clients were added in calendar 2023 and what is the revenue mix? - The company added about 10 new clients in 2023, marking its best year for new client acquisitions, with expectations for continued acceleration in 2024 [22] Question: What is the anticipated shift in revenue towards digital and consulting services? - Management noted a clear shift towards digital transformation offerings, which is reflected in higher gross margins [24] Question: How does the company view AI as an opportunity or threat? - AI is seen as a productivity and business enhancement tool, with opportunities expanding in high-value areas like technology and analytics [26] Question: What is the current labor market situation and talent retention? - Retention has improved to about 4%, and the market for talent is becoming easier compared to two years ago [31] Question: What are the plans for sales investment? - The company is investing in its sales team to accelerate growth, particularly in private equity relationships and mid-sized U.S. companies [34][36]

Financial Performance - Revenues for the third fiscal quarter of 2024 were $18.9 million, up 49% compared to $12.7 million for the same period in 2023[2] - Income from operations for the third fiscal quarter of 2024 was $0.7 million, up 150% from $0.3 million in the third fiscal quarter of 2023[3] - Net loss for the third fiscal quarter of 2024 was $(16.3) million, compared to $(0.3) million for the same period in 2023, including a $16.4 million non-cash charge related to Forward Purchase Agreements[3] - Adjusted EBITDA for the third fiscal quarter of 2024 was $2.4 million, consistent with $2.4 million for the same period in 2023[4] - Gross profit for the third fiscal quarter of 2024 was $6.0 million, with a gross margin of 32%, compared to a gross margin of 18% in the same quarter of 2023[15] - Operating margin for the third fiscal quarter of 2024 was 4%, up from 2% in the same quarter of 2023[15] Future Guidance - The company is guiding for 2024 revenues between $95 million and $105 million, and adjusted EBITDA between $16 million and $20 million[5] Cash Position - Cash at the end of the period was $6.5 million, up from $1.6 million at the end of the same period in 2022[19] - The company reported a net cash provided by financing activities of $6.5 million for the nine months ended December 31, 2023[19] Workforce - Aeries Technology has over 1,600 professionals specializing in various services aimed at driving business success[8]

Company Overview - Aeries Technology (Nasdaq: AERT) is a global professional services and consulting partner focused on businesses in transformation mode, providing customized engagement models to optimize and transform business operations [2] - Founded in 2012, the company has over 1,600 professionals specializing in Technology Services and Solutions, Business Process Management, and Digital Transformation initiatives [2] - Aeries Technology has received the Great Place to Work Certification due to its unique approach to staffing and workforce development [2] Upcoming Financial Results - Aeries Technology will host a conference call to discuss their financial results on February 22, 2024, at 8:00 AM ET [1] - The call will be accessible via telephone and live webcast on the company's investor relations website [1] - A replay of the conference call will be available until February 29, 2024, with specific access codes provided [1]

Company Overview - Aeries Technology (Nasdaq: AERT) is a global professional services and consulting partner focused on businesses in transformation mode, providing customized engagement models to optimize and transform business operations [2] - Founded in 2012, the company has over 1,600 professionals specializing in Technology Services and Solutions, Business Process Management, and Digital Transformation initiatives [2] - Aeries Technology has received the Great Place to Work Certification due to its unique approach to staffing and workforce development [2] Upcoming Financial Results - Aeries Technology will host a conference call to discuss its financial results on February 22, 2024, at 8:00 AM ET [1] - The call will be accessible via telephone and live webcast on the company's investor relations website [1] - A replay of the conference call will be available until February 29, 2024, with specific access codes provided for both domestic and international callers [1]

Group 1 - Aeries Technology has inaugurated a new Center of Excellence (CoE) in Bangalore, India, for its client Confluence, aimed at enhancing digital transformation and innovation in the investment management industry [1][2] - The CoE will leverage global talent to support Confluence's strategic growth, focusing on operational effectiveness, flexibility, and cost efficiencies through Aeries' Purpose-Built model [2] - Confluence is recognized as a global leader in data-driven investment management solutions, providing services that optimize efficiency and ensure regulatory compliance for various stakeholders in the asset management ecosystem [1][2] Group 2 - The establishment of the CoE is part of Confluence's global expansion strategy, enhancing its capabilities in digital transformation and process optimization [2] - Aeries Technology, founded in 2012, has over 1,600 professionals specializing in Technology Services, Business Process Management, and Digital Transformation, aimed at driving business success [3][4] - The partnership between Aeries and Confluence is expected to enrich client services and operational efficiency, providing access to skilled talent in the investment management sector [2]

Financial Performance - For the three months ended September 30, 2023, the company reported a net loss of $1,521,855, with general and administrative expenses of $1,597,474[120]. - For the nine months ended September 30, 2023, the company had a net loss of $1,020,930, consisting of general and administrative expenses of $5,344,586, offset by an unrealized gain on marketable securities of $4,711,256[122]. - As of September 30, 2023, the company had a working capital deficit of $9,337,388, raising substantial doubt about its ability to continue as a going concern[133]. Initial Public Offering - The company generated gross proceeds of $200,000,000 from its Initial Public Offering of 20,000,000 shares at a price of $10.00 per Unit[125]. - The company incurred $21,834,402 in transaction costs related to the Initial Public Offering, including $4,600,000 in underwriting fees[126]. - Following the Initial Public Offering, the net proceeds have been invested in U.S. government obligations with a maturity of 185 days or less, minimizing interest rate risk[145]. Business Combination - As of September 30, 2023, the company had cash and marketable securities held in the Trust Account totaling $49,992,699, which will be used for a Business Combination[129]. - The company has until April 22, 2024, to consummate a Business Combination, or it will face mandatory liquidation[134]. - The company may need to obtain additional financing to complete its Business Combination or to redeem a significant number of public shares[131]. Operational Status - The company has not engaged in any operations or generated revenues to date, relying on interest income from cash and cash equivalents[119]. - The company expects to incur increased expenses as a result of being a public company, particularly for legal and financial reporting compliance[118]. Regulatory and Compliance - The company is classified as an "emerging growth company" under the JOBS Act, allowing it to delay the adoption of new accounting standards[142]. - The company is evaluating the benefits of reduced reporting requirements under the JOBS Act, which may exempt it from certain disclosures for five years post-IPO[143]. - As of September 30, 2023, the company had no off-balance sheet arrangements or contractual obligations[141].