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Aeries Technology, Inc. (Nasdaq: AERT) is a global professional services and consulting partner serving businesses undergoing transformation. Established in 2012, Aeries specializes in Technology Services and Solutions, Business Process Management, and Digital Transformation. With over 1,600 professionals, the company is dedicated to providing customized engagement models designed to scale, optimize, and transform client operations.
Aeries supports private equity sponsors and their portfolio companies, offering expertise across various functional areas. The company's unique approach involves setting up dedicated delivery centers in strategic locations tailored to client needs, enhancing operational efficiency and growth. Key services include management consultancy, professional advisory, operations management, and the development of digital systems.
In recent developments, Aeries announced the appointment of Rajeev Nair as CFO and Daniel Webb as CIO. Both bring substantial experience in finance, AI, investment banking, and private equity, enhancing the company's strategic direction. Additionally, Aeries reported strong financials for the fiscal year 2024, with revenues up by 38% year-over-year and a significant increase in adjusted EBITDA by 107%.
Aeries also forged strategic partnerships, including a collaboration with Confluence to establish a new Center of Excellence in Bangalore and a partnership with Quickbase to enhance global technology operations. The company continues to expand its capabilities and workforce, earning the Great Place to Work Certification for its commitment to employee development and satisfaction.
Aeries Technology (AERT) reported Q2 FY2025 results with mixed performance. Total revenue decreased 4% year-over-year to $16.9 million, while North America revenue grew 13.3% to $15.7 million. The company reported an operating loss of $(4.1) million compared to income of $1.5 million in Q2 FY2024. Net loss was $(2.3) million versus net income of $0.9 million year-over-year. The company is strategically refocusing on its core North American Global Capability Center (GCC) market, targeting US-based private equity backed portfolio companies.
Aeries Technology (NASDAQ: AERT) has received the Great Place To Work® Certification™ in India, valid from October 2024 to October 2025. The certification recognizes the company's workplace culture and opportunities provided to its 1,700 professionals worldwide. The company specializes in Generative AI-Driven Digital Transformation solutions, Technology Services, and Business Process Management. This certification follows their recent recognition in the Global In-house Center Setup Capabilities PEAK Matrix® Assessment 2024 by Everest Group.
Aeries Technology (Nasdaq: AERT) has announced its return to compliance with Nasdaq's listing standards. The company regained compliance with Nasdaq Listing Rule 5250(c)(1) regarding periodic reporting after filing its Form 10-Q for Q2 2024 on October 15, 2024, and its Form 10-K for FY 2024 on September 27, 2024. The Nasdaq Staff has confirmed that the listing compliance matter is now closed.
Aeries Technology (Nasdaq: AERT) reported financial results for the first fiscal quarter of 2025 ended June 30, 2024. Revenues increased by 2% year-over-year to $16.7 million, compared to $16.3 million in Q1 2024. However, the company experienced a significant downturn in profitability:
- Income from operations decreased to $(16.4) million, down from $0.8 million in Q1 2024
- Net loss was $(15.3) million, compared to a net income of $0.5 million in Q1 2024
- Adjusted EBITDA fell to $0.4 million from $2.9 million in Q1 2024
CEO Sudhir Panikassery attributed these results to investments in growth strategies, expecting long-term benefits despite short-term impact. The company is focusing on accelerating its return to high profitability through operational initiatives.
Aeries Technology (Nasdaq: AERT) has been recognized as a Major Contender in the Global In-house Center (GIC) Setup Capabilities PEAK Matrix® Assessment 2024 by Everest Group. This recognition validates Aeries' expertise in setting up and managing Global Capability Centers (GCCs) for Private Equity firms and their portfolio companies.
Aeries offers comprehensive GCC solutions, including location strategy, governance frameworks, talent acquisition, and operations management. The company specializes in leveraging AI, automation, and cloud-based solutions to transform GCCs into innovation hubs. Aeries' inclusion in the PEAK Matrix® reinforces its position as a premier GCC provider, offering tailored solutions that align with strategic goals and deliver operational excellence and innovation at scale.
Aeries Technology (Nasdaq: AERT) reported financial results for the fiscal year ended March 31, 2024. The company achieved revenues of $72.5 million, marking a 37% increase from the previous year's $53.1 million. Income from operations rose 28% to $3.0 million, while net income significantly jumped to $17.3 million, including $16.2 million in non-cash income related to Forward Purchase Agreements. Adjusted EBITDA slightly improved to $9.2 million.
CEO Sudhir Panikassery attributed the performance to expansion within existing client engagements and new client relationships, particularly focusing on private equity portfolio companies and mid-size businesses. The company's technology-driven, solution-specific approach is expected to drive positive outcomes in the coming years as Aeries progresses through its current growth phase.
Aeries Technology (Nasdaq: AERT) has received a deficiency notification from Nasdaq due to its failure to timely file its Quarterly Report on Form 10-Q for Q2 2024 and its Annual Report on Form 10-K for the year ended March 31, 2024. This non-compliance with Nasdaq Listing Rule 5250(c)(1) requires the company to submit a compliance plan by September 30, 2024. Nasdaq may grant an extension until January 13, 2025 for Aeries to regain compliance. The company is working to complete and file the required reports as soon as possible and intends to take necessary steps to maintain its Nasdaq listing.
Aeries Technology (Nasdaq: AERT) has opened its second office in Mexico, located in Guadalajara's La Colonia Americana. This expansion supports the growing trend of nearshoring, catering to U.S. clients seeking outsourcing benefits with proximity and cultural alignment. The new office will support diverse roles including customer service representatives, implementation specialists, and technology positions.
The strategic location aims to enhance operational efficiency and add business value to clients. According to a Bloomberg report, 80% of North American companies are considering nearshore options. This move aligns with Aeries' commitment to delivering top-tier services while capitalizing on nearshore advantages, including improved communication and faster response times.
Aeries Technology (Nasdaq: AERT), a global professional services and consulting partner, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. Key points include:
- Daniel Webb, Chief Investment Officer, will deliver an on-demand presentation available to conference participants on September 9, 2024, at 7 AM ET through the conference portal.
- The company will attend the in-person portion of the event at the Lotte New York Palace from September 9-11, 2024, hosting one-on-one meetings.
- Institutional investors can register for meetings with management or to access the company's presentation.
This event provides Aeries Technology an opportunity to showcase its business to potential investors and industry professionals.
Aeries Technology (Nasdaq: AERT) has been chosen by Diligent, a leading GRC SaaS company, to establish a Customer Success Center of Excellence in Guadalajara, Mexico. This new operation will focus on enhancing customer experience and operational agility for Diligent's global business. Aeries has implemented a comprehensive strategy including advisory services, talent acquisition, and optimization opportunities.
The partnership aims to improve customer service standards and align with Diligent's global strategic objectives. Aeries successfully sourced, hired, and onboarded a significant number of employees within 90 days, demonstrating their efficiency and rigorous selection process. This collaboration signifies a shared commitment to innovation, talent development, and cost optimization, positioning both companies to meet evolving client needs in a competitive global market.
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