LatentView Q4 FY24 Revenue Grows by 21.7% YoY

LatentView Analytics Limited, a global data analytics, consulting, and solutions firm, today announced its financial results for the fourth quarter and full year of FY24, ended on March 31, 2024.

Commenting on the results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said,

"FY24 was a year of building on the growth momentum and investing for sustaining growth in the future. Revenue for the full year grew by 18.9%, despite uncertain macroeconomic indicators persisting for the majority of the fiscal. We attribute this success to our deep relationships with existing clients in the technology, industrial and CPG verticals, reflecting their trust in our solutions. In Q4FY24, revenue witnessed a growth of 3.6% on sequential basis and 21.7% on a YoY basis. The recent acquisition of Decision Point Analytics marks a significant milestone, which will further bolster our capabilities in the CPG vertical and open a new geography in Latin America. As we moved forward, we remain dedicated to fostering innovation and delivering value to our stakeholders.”

Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said,

“For Q4FY24, we reported an operating revenue of ₹1,716.4 million and improved EBITDA margin to 23.5%, up 130bps during the quarter. This was in-line with our commitment to improve margins driven by operating leverage from revenue growth and exercising strong fiscal discipline. Our investment strategy remains steadfast, encompassing both organic and inorganic avenues for growth. The acquisition of Decision Point Analytics will be partially funded through IPO proceeds and balance from the existing cash reserves. As of March, 31, 2024, our cash and investments (excluding IPO proceeds) stood strong at ₹11,232 million.”

Key Financial Highlights

Acquisition of Decision Point Analytics

Marking a key milestone in LatentView’s growth journey, we signed definitive agreements for the acquisition of 70% of outstanding equity capital in Decision Point for a total consideration of $39.1m in March 2024. The remaining 30% equity is to be acquired over the next two years with a pay-out based on agreed valuation principles.

Established in 2012, Decision Point is a leader in AI-led Business Transformation and Revenue Growth Management (RGM) solutions with 300+ employees worldwide. The company brings deep experience in RGM, Demand Forecasting, Pricing Analytics, Promotion Analytics, Retail Segmentation, and Marketing Mix Models with a focus on CPG brands. Decision Point has won awards and recognition from Microsoft and the Promotion Optimization Institute (POI).

The acquisition of Decision Point will add marquee CPG logos, bolster LatentView’s GenAI readiness, and open a new talent market in Gurgaon and Latin America. LatentView will commit investments to expand Decision Point solutions in the focus markets of North America and Europe.

Select Key Client Wins in Q4FY24

• LatentView entered into a strategic partnership with a leading provider of gamified learning and engagement solutions to implement and enhance paid media campaign performance dashboards, resulting in higher user engagement, better insights, and improved user experiences.
• We collaborated with a prominent remittance provider to assess the ROI of sponsoring a team in the world's most-watched car racing event. We established success criteria and KPIs by harnessing AI/ML for predictive insights and financial forecasting.
• For a distinguished New York-based online university, we are establishing a standardized ROI framework predicting enrolments, conducting competitive analysis and market share assessment, creating targeted marketing strategies for sustainable growth, and developing a Customer Lifetime Value (CLV) model to focus on student retention.
• We partnered with a leading US-based construction company to address their data and business process governance challenges. We built a robust data engineering infrastructure and assessed operational readiness for strategic dashboarding and advanced ML solutions.
• For a leading enterprise data integration platform, we built data marts to measure user experience, develop canned queries across domains, create an automated visualization dashboard, and a single source of truth to train ML models.
• For a mid-size fintech player providing subscription financing platforms for enterprises, we developed a scalable method to identify, measure, and control risk across customer lifecycles, define KPIs to measure business health, perform root cause analysis, and enable decision support across the product, engineering, sales, and finance teams.

Other Business Highlights of Q4FY24

• Reorganization:
  • Marketing Analytics CoE: In a strategic move to leverage our expertise in marketing analytics and cater to its growing focus across industries, we launched the Marketing Analytics Centre of Excellence (CoE). This function will be spearheaded by Boobesh Ramadurai, who successfully led our technology vertical in California previously. This CoE aims to empower marketing leaders with actionable insights, enabling informed decision-making, targeted campaigns, and optimized ROI.
  • Technology vertical: Sharpening our focus in the technology vertical, we've strengthened our Go-To-Market strategy to specifically address the needs of both the tech B2B and B2C segments independently. This will help us provide targeted solutions that address each segment's unique requirements and opportunities.
• Partnerships: LatentView has entered a strategic collaboration with NVIDIA, a full-stack computing company specializing in AI and digitalization. This collaboration aims to leverage NVIDIA accelerated computing, which includes the NVIDIA AI Enterprise software platform for the development and deployment of production-grade AI applications, including GenAI.
• Events:
• • Roundtable in London: In February 2024, LatentView hosted the 17th edition of our roundtable in London, with the theme, “The New ROI: Return on Innovation; Connecting the Dots Between Business Investment and Value Creation With AI and Analytics.” The event featured a joint keynote session by Alberto Prado from Unilever and Krishnan Venkata from LatentView Analytics, where they shared insights on how innovation can drive business impact.
  • Networking in Detroit: In our networking event themed “Shifting Gears: Accelerating Growth and Visibility with Data Analytics” in February, industry leaders came together to discuss strategies to achieve actual impact and transform businesses by embracing analytics. We showcased three key solutions—InsightLens, ConnectedView, and OneCustomerView at the event.