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Asure Software (NASDAQ: ASUR) Surpasses Expectations with Record-Breaking Q4 and FY 22 Financial Results, Raises Guidance for 2023

Benzinga

The fourth quarter of 2022 earnings season is winding down with 94% of S&P 500 (NYSE: SPY) companies having already reported results. Overall, Q4 2022 was slightly bullish when considering 68% of S&P 500 companies reported a positive EPS surprise and 66% of components reported a positive revenue surprise. Unfortunately, the revenue and income surprises could largely be chalked up to low expectations. Earnings growth for the fourth quarter 2022 came in at a combined -4.8% for the S&P 500. According to Factset, this represents the first time the S&P 500 has reported a year-over-year decline in earnings growth since the third quarter of 2020 (-5.7%). To make matters worse, earnings revisions from December 31, 2022, estimated earnings growth of -3.3%. This means, on an overall basis for the S&P 500, companies saw worse earnings growth declines than were estimated. The first quarter of 2023 doesn’t look to be much better for the index, as 76 companies in the S&P 500 have issued negative EPS guidance, compared to only 21 components issuing positive guidance. Not all Q4 2022 earnings have been a disappointment, however. Asure Software (NASDAQ: ASUR) just released record Q4 and full-year 2022 financial results that blew the top off of expectations. With these latest results, Asure’s increases its consecutive earnings estimate beat streak to the last ten quarterly periods. ASUR: Breaking Down the Record Q4/FY 22 Results Asure Software, a cloud-based human capital management (HCM) services provider to small and medium businesses (SMBs), released its Q4 and full-year 2022 financial results after the market close on February 27, 2023. Q4 2022 Results For the fourth quarter, the HCM provider generated record quarterly revenues of $29.3 million, which represents an impressive growth of 39% from Q4 2021. Recurring revenues topped $24.1 million, up 25% year-over-year. EBITDA for the quarter rose $3.5 million y/y to $5 million. Adjusted EBITDA rose $3.7 million y/y to $6 million. For context, Asure had previously issued guidance for the fourth quarter estimating a revenue range between $23.5 million to $24 million and an adjusted EBITDA range between $3 million and $3.5 million. If we take the higher end of the Q4 guidance into account, Asure’s actual Q4 2022 revenue came in 22% higher than its $24 million estimate. Meanwhile, adjusted EBITDA came in a whopping 71.42% higher than the $3.5 million high-end estimate. Full-Year 2022 Results Turning to the full-year 2022 results, Asure reported total revenue of $95.8 million, up 26% y/y. Recurring revenue jumped 21% y/y to $86.2 million. EBITDA came in at $8.8 million, compared to last year’s $13.5 million result. However, last year’s EBITDA included an extraordinary gain of $18.8 million. Adjusted for the extraordinary gain, Asure’s 2021 EBITDA would have been $3.4 million. Adjusted EBITDA for 2022 increased $4.2 million to $11.8 million. Again, Asure reports very strong top and bottom-line results on a year-over-year basis, but let’s compare the results to the company’s FY 22 guidance. For the year 2022, Asure originally estimated a revenue range between $90 million and $90.5 million. Adjusted EBITDA was expected to come between $10.5 million and $11 million. If we again focus on the higher end of the guidance ranges, Asure's total revenue for the year came out 5.86% higher than estimated. Adjusted EBITDA came in greater than 7.27% compared to management's guidance. Asure Issues Q1 2023 Guidance and Raises Full-Year 2023 Estimates After finishing strong in 2022 and hitting the ground running to start 2023, Asure's management has raised its full-year 2023 revenue and adjusted EBITDA guidance. The company also provided its initial guidance for Q1 2023. Previously-issued guidance for the year 2023 originally estimated a revenue range between $98 million and $102 million, with an adjusted EBITDA range between 14% and 16%. Asure now estimates total revenues between $105 million and $107 million, on an adjusted EBITDA range between 15% and 17% for the full-year 2023. This is a robust guidance increase that likely takes into consideration Asure’s big-name partnerships that have been secured with Intuit (NASDAQ: INTU) TurboTax, H&R Block (NYSE: HRB), and ZayZoon through the first two months of 2023. In addition, the current uncertain economic environment continues to be an ideal situation for Asure, as SMBs look to continue streamlining operations, cut costs and stay competitive for top employee talent. In its Q4 2022 earnings release, Asure also issued its initial guidance for the first quarter of 2023. The HCM provider estimates revenues coming between $29 million and $30 million for the quarter, with an adjusted EBITDA range of $6 million and $6.5 million. Wall Street Analysts Blown Away By Asure’s Strong Results, Reiterate Bullish Outlooks Analysts covering Asure have been bullish for the past several months. However, the six prestigious analysts covering the stock just took another step in their bullish belief of Asure’s outlook. After the company’s robust financial results, all six analysts took the opportunity to reiterate their “buy” ratings and even raised their price targets. Five-star analyst, Richard Baldry of Roth MKM, reiterated his “buy” rating and rose his price target to $23.00 from $16.00. Five-star analyst, Jeff Van Rhee of Craig-Hallum, reiterated a “buy” rating and increased his price target to $18.00 from $14.00. Five-star analyst, Vincent Colicchio of Barrington, reiterated a “buy” rating and rose his price target to $15.00 from $12.00. Five-star analyst, Ryan MacDonald of Needham, reiterated a “buy” rating and increased his price target to $20.00 from a previous target of $14.00. Four-and-half-star analyst, Bryan Bergin of Cowen & Co., reiterated a “buy” and rose his price target to $15.00 from $13.00. Four-star analyst, Eric Martinuzzi of Lake Street, reiterated a “buy” rating and increased his price target to $17.00 from $8.00. Overall, Asure Software continues to reliably outpace earnings expectations, as the Q4 2022 results mark the tenth consecutive quarterly period of beating estimates. This comes during a time when larger-cap stocks in the S&P 500 collectively saw negative earnings growth during the fourth quarter of 2022 and warned of negative EPS guidance for the first quarter of 2023. Asure's HCM suite of products and services continues to hold great value among its SMB clients, as can be seen with the strong recurring revenue. The company has an astounding client retention rate, combined with its strong drive to build partnerships and add new offerings to its client base, which continues to be a winning formula for Asure. If 2023 is anything like 2022, Asure Software is on track for another big year ahead. Disclaimer: Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement. All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five thousand dollars cash by Asure Software for the creation and dissemination of this content by the company. This material does not represent a solicitation to buy or sell any securities. Certain statements contained herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions. Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/ The Post Asure Software (NASDAQ: ASUR) Surpasses Expectations with Record-Breaking Q4 and FY 22 Financial Results, Raises Guidance for 2023 First Appeared on Spotlight Growth. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

March 02, 2023 11:45 AM Eastern Standard Time

‘COFFEE WARS’, AN IMPACT COMEDY STARRING KATE NASH, TO BE RELEASED MARCH 2023 WITH ALL PROCEEDS GOING TO ENVIRONMENTAL & ANIMAL WELFARE CHARITIES

COFFEE WARS

COFFEE WARS, a comedy feature film that shares a powerful message about embracing a dairy-free future to improve health of the planet while bringing attention to veganism, ethical consumerism, and female entrepreneurship, will be released in March 2023 on iTunes, Amazon, and Google Play. The film stars vegan actress, feminist activist, and singer-songwriter, Kate Nash ( Powder Room, GLOW ), Derry Girls star Saoirse-Monica Jackson ( Finding You, The Flash ), British actor Toby Sebastian ( Game of Thrones, The Music of Silence), and Welsh phenom Owain Arthur (Amazon’s Power of the Rings). VegGood Films has shared that 100% of all proceeds from the film will be donated to environmental and animal welfare charities. COFFEE WARS uses the lens of comedy to shine a light on the devastating environmental impacts of dairy products and elevate plant-based alternatives as tasty, more sustainable substitutions worthy of award-winning lattes. “COFFEE WARS brings pressing issues to a global audience in a laugh-out-loud comedic way,” said Kate Nash. “It invites viewers to challenge their beliefs about what it means to be an ethical consumer and the overall environmental impacts of their purchases.” COFFEE WARS follows coffee aficionado Jo (Kate Nash), who is doing her best to stay afloat running her own coffee shop alongside a band of unpredictable colleagues, while nothing seems to be going her way. She can make a latte better than anyone, but her customers have trouble getting past one thing: her coffee shop is vegan. Drowning in debt and with everything on the line, Jo and her team of misfits gear up as the underdogs for the World Barista Championships, where she'll face her "full fat full cream" archrival Rudy (Toby Sebastian). Jo will finally have a chance to prove herself in the dairy-dominated world of coffee, and, most importantly, win a big cash prize. The donation of the film’s proceeds will be made through Foam Capital Charitable Trust, which represents the film’s financiers. “Our society simply cannot continue to consume planet-crippling dairy products, especially as plant-based alternatives, such as the ones featured in our film, are readily available, healthy for our bodies and the planet and, most importantly, delicious,” said Executive Producer Jay Karandikar of VegGood Films. “We are 100% committed to this cause and are proud that our film’s proceeds will support organizations that are working to ensure the health and sustainability of the planet.” For more information on the film, visit coffeewarsfilm.com or follow @coffeewarsfilm on Instagram, TikTok, and Facebook. ### ABOUT VEGGOOD FILMS VegGood Films was formed by impact investors and purpose-driven optimists whose shared mission is to realize a more sustainable and humane world. Led by the investors behind VegInvest and New Crop Capital and fueled by the hope that entertainment and art can facilitate sustainable behavioral change around the world, VegGood Films is dedicated to producing quality films that can entertain and inspire. To learn more visit veggoodfilms.com. FILM ASSETS FOR MEDIA USE All press assets Official Trailer via YouTube Contact Details Jive PR + Digital Lynsey Gray +1 250-505-6434 lgray@jiveprdigital.com Company Website https://www.coffeewarsfilm.com/

March 02, 2023 08:00 AM Pacific Standard Time

Swagger Becomes Newest Member of HPL Digital Sport and Cardinal Sports Capital Accelerator Program

Swagger

Swagger, a daily fantasy sports 2.0 platform giving the edge back to the casual player, announced today its appointment into the HPL Digital Sport and Cardinal Sports Capital Accelerator Program. In addition to a capital investment into Swagger, the Accelerator Program will help Swagger raise capital for its next funding round, with a goal of securing upwards of $2 million. Founded in 2021 by esteemed industry veteran and former CEO of YouBet.com and president of Xpressbet.com, Ron Luniewski, Swagger initially raised more than $1 million in an Angel round. Since the official launch of its real-money game in August of 2022 for the NFL season, Swagger has exceeded growth expectations and been revenue positive. With minimal marketing spend, Swagger secured and retained thousands of users while growing its handle 380% throughout the NFL season. “At Swagger, our user base continues to grow because we found a true white space in the market for the casual player. We built our platform with the sole purpose of leveraging prop and parlay gameplay and making the experience easy, entertaining and fun for the end user, where they have a much better chance of winning something every time they play,” said Luniewski. “Our inclusion in the Accelerator Program is the first in a series of future strategic investments we’re excited to share in the coming months. By leveraging the Accelerator Program we’ll be able to better amplify our story and fasttrack the momentum we’ve built for ourselves.” The vision behind the Accelerator Program is to help streamline a company’s access to essential tools needed for entrepreneurs to obtain capital, network in the right channels, effectively articulate their value proposition and get their products and services into the hands of the right audiences. “2022 was not an easy year for any company in the igaming industry, or entrepreneurs looking to raise capital. However, the tightening of the market provided an opportunity for smart founders to sharpen their positioning by providing a refreshed focus on how their products will retain users, drive revenue and why users will want to play on their platform again and again,” said Ed Moed, CEO of HPL Digital Sport. “We’ve seen Swagger’s success out of the gate in generating revenue and retaining users as a model for how startups should approach this market: smart, strategic and methodical. It’s a true testament to Ron’s previous iGaming experience and exits, as well as the exceptional team he’s put around him as to why Swagger is progressing while many startups are stalling out. A lot of strategic partners and investors are already excited to see how Swagger continues this momentum and helps lead this evolution of DFS 2.0.” For more information please visit: https://playwithswagger.com/ ABOUT SWAGGER Swagger is taking a fresh approach to fantasy sports by combining the excitement of Daily Fantasy and the stickiness of slots into a completely unique platform tailored towards sports fans who simply want a real shot at winning. The key is its proprietary payout structure called Prize Boards. Users combine 2-10 player props into a personalized ticket with several cash prizes all at play. Users score points for the picks they hit, winning an instant cash prize based on their scores, not the perfect ticket. This allows the everyday sports fan to play with their gut, knowing that it’s not an all-or-nothing proposition, resulting in higher retention and satisfaction. Contact Details Hot Paper Lantern Mike Adorno madorno@hotpaperlantern.com Company Website https://playwithswagger.com/

March 02, 2023 10:01 AM Eastern Standard Time

News Release

DSG Global introduces new line of golf carts including the SR1 and Shelby

DSG Global

DSG Global CEO Bob Silzer joined Steve Darling from Proactive to share news about the company that is using its GPS systems in power carts to enhance the golf experience. Silzer explained some of the features its clients are using. He also shared with Proactive the move into the golf cart business including the Single Ride carts and the deal the company has done with Shelby. Contact Details Proactive Investors Canada +1 604-688-8158 na-editorial@proactiveinvestors.com

March 01, 2023 02:04 PM Eastern Standard Time

Video

CleverTap’s Fintech Benchmark Report: Only 1 in 5 users that install fintech apps sign up within week one

CleverTap

CleverTap, the modern integrated retention cloud, released its Industry Benchmark Report for Fintech Apps 2022. As fintech apps continue to grow more popular, the number of players vying for market share has increased. This has subsequently reduced customer retention and “stickiness” for any one brand. Therefore, today more than ever, it is crucial that fintech companies find ways to drive customer “stickiness” by engaging users in effective ways that eventually drive transactions and fuel growth. The report reflects data collected from Asia-Pacific, Europe, India, Latin America, Middle-East, and North America. The report gives marketers a truly holistic view of key metrics within the fintech app landscape.It also spans a wide variety of fintech apps, including, but not limited to, mobile payment apps, cryptocurrency, and block chain services, along with banking and insurance among others. These insights will not only serve as a helpful starting point for developing successful engagement strategies, but also assist in understanding how an app fares in comparison to global averages. Some of the key metrics in the report include: Install to sign-up rate: Only 1 in 5 users that install fintech apps (21%) end up signing up within the first week. Average time to sign-up: 70% of the users that sign-up, do so within 75 seconds of launching the app for the first time. Sign-up to conversion rate: 95% of newly signed-up users make at least one financial transaction in the first month. Average time to convert: 76% of newly signed-up users move from onboarding to deeper-in-the-funnel engagement within an average of 7 days. Session frequency: On average, fintech app users launch their app around 11 times a month. Average repeat transaction rate for new users: 15% of newly signed-up users complete more than one transaction in the first week. Average click-through rate for push notifications: On average, 9% of Android users and 6% of iOS users will click on and interact with push notifications. Average click-through rate for in-app notifications: The click-through rate for in-app notifications is 24%, that’s about 3 times more than that of push notifications. Average email open rate: 34% users open emails sent by fintech companies Average Stickiness Quotient: Fintech apps enjoy a stickiness quotient of 22%, that indicates nearly one-quarter of MAUs consistently return to their fintech apps “The fintech industry has seen exponential growth in the last few years. Given the relentless competition within the space, fintech platforms need to step up their Omnichannel engagement efforts to better retain customers,” said Jacob Joseph, VP-Data Science, CleverTap. “The benchmark metrics laid out in our report provide a great starting point for growth marketers looking to develop effective marketing strategies. They will be able to compare numbers against global averages and pinpoint which aspects they are excelling at and which areas could use some attention or innovation.” 95% of new fintech users complete a monetary transaction in the first month. This shows that while users see value in fintech apps, it’s important to adopt customized user engagement strategies to boost retention on the platform. Today there is a real need for fintech brands to bake-in effective marketing strategies within their apps. Users will remain responsive as long as the experience is engaging and seamless. The benchmark report helps fintech apps understand how to build successful mobile communication campaigns, and also allows growth marketers to discover areas that require greater focus. The report can be downloaded here. About CleverTap CleverTap is the World's #1 Retention Cloud that helps app-first brands personalize and optimize all consumer touch points to improve user engagement, retention, and lifetime value. It's the only solution built to address the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation in one unified product. The platform is powered by TesseractDB™ - the world’s first purpose-built database for customer engagement, offering both speed and economies of scale. CleverTap is trusted by 2000 customers, including Gojek, Electronic Arts, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa Johns, and Tesco. Backed by leading investors such as Sequoia India, Tiger Global, Accel, and CDPQ the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Singapore, and Jakarta. For more information, visit clevertap.com or follow on LinkedIn and Twitter. Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release. Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction. Contact Details Sony Shetty sony@clevertap.com Company Website https://clevertap.com/

February 27, 2023 02:51 PM Eastern Standard Time

OnePlus Announces a Technical Partnership with Perfect World Games about Ray Tracing on Mobile

OnePlus

BARCELONA, SPAIN - Media OutReach - 27 February 2023 - Global leading technology company OnePlus today announces a technical partnership with Perfect World Games on ray tracing technology. Both parties work closely to bring the ray tracing technology to Tower of Fantasy in-game play on the OnePlus 11 5G. “We’re extremely thrilled to cooperate with Perfect World Games to showcase this industry-leading technology that shapes the future of mobile gaming experience on the OnePlus 11 5G”, said Kinder Liu, OnePlus COO and Head of R&D. “OnePlus is dedicated to providing the most immersive game experience to our users and today we take this experience to a new level”. “We’re excited to cooperate with OnePlus to apply this advanced technology that previously only be seen on PCs in mobile phone,” said Dan Xu at Perfect World Games. “As a leading game developer, our mission is to bring the best experience to gamers, and ray tracing technology will dramatically transform the in-game experience”. Ray Tracing on Mobile Gaming Ray tracing is a technology that enables dynamic in-game lighting, reflections, cross-physics illuminations and shadows, allowing for extreme environmental realism when gaming. The newly launched OnePlus 11 5G is equipped with Snapdragon® 8 Gen 2 mobile platform that supports hardware accelerated ray tracing technology, which provides the opportunity for OnePlus to work with Perfect World Games to fully explore the potential of ray tracing on mobile. Ray Tracing in Open World MMORPG on Mobile Compared to traditional MMORPG games, incorporating ray tracing in open-world games has significant technical challenges, especially on mobile platform. Perfect World Games developed techniques such as a distance-based dynamic object frame-updating mechanism and range-based ray tracing culling based on light source perspective, which enables players to experience real-time stable frames while enjoying ray tracing effects. Additionally, for the open-world scenes in Tower of Fantasy, the ray tracing acceleration structures are further optimized through employing small object culling and view frustum culling based on camera frustum solid angle. By accurately simulating the propagation and interaction of light rays, players can immerse themselves in the Vera desert and experience the more realistic effect of flames from the surroundings and the hot sand underfoot. Normally, open world MMORPG game experience is more immersive than traditional MMORPG game due to more realism detailed objects, and this experience is further elevated by ray tracing technology. Occlusion and shadows in open world scenes are accurately calculated to precisely illuminate and shade the objects of all sizes and scales in Tower of Fantasy. This is totally different with traditional rendering methods which often miss intricate details in scenes, leading to inaccurate or missing occlusion and shadows. For instance, by calculating the occlusion effect of the scene under a uniform intensity of light, ray tracing on Tower of Fantasy enhances and improves the contrast between light and dark in the visuals, achieving more realistic shadows and ultimately adding a stronger sense of spatial depth and realism to the game's environments. The introduction of mobile ray tracing technology also enables more accurate capturing of shadows and occlusion effects of objects in the distance and behind other objects, resulting in better visual performance compared to traditional rendering techniques. Moreover, with mobile ray tracing enabled, the game improves the effect of simulating the absorption of physically accurate light as it passes through and reflects off water surfaces. Difficulty here is that light is comprised of various wavelengths of light waves, and when these light waves enter the water, they are absorbed differently. Ray Tracing on the OnePlus 11 5G The objective for this partnership is to improve the visual and performance experience on mobile device. To improve the graphics quality, engineers from OnePlus and Perfect World Games co-developed the Real-time Inline Ray Tracing Pipeline and a novel Fast Temporal Convergence Algorithm for Ambient Occlusion, specifically tailored to meet the demands of “Tower of Fantasy” by utilizing a forward rendering pipeline. To cope with the demanding graphics computing power brought by ray tracing technology, the Spatiotemporal Oversampling is employed. Thanks to its over-the-top hardware specs including 16GB LPDDR5X RAM, 256GB ROM with UFS 4.0, and the new Cryo-velocity VC Cooling System, the OnePlus 11 5G can support the real-time rendering of mobile ray tracing on the graphics of Tower of Fantasy. From February 27 th to March 2 nd, OnePlus will showcase ray tracing enabled Tower of Fantasy at Hall 3, 3M10 at MWC 2023. About OnePlus OnePlus is a global mobile technology brand challenging conventional concepts of technology. Created around the “Never Settle” mantra, OnePlus creates exquisitely designed devices with premium build quality and high-performance hardware. OnePlus thrives on cultivating strong bonds and growing together with its community of users and fans. For more information, please visit OnePlus.com or follow us on: Instagram - https://instagram.com/oneplus Facebook - https://facebook.com/oneplus Twitter - https://twitter.com/oneplus LinkedIn - https://www.linkedin.com/company/oneplus Contact Details OnePlus Malcolm Cheng malcolm.cheng@oneplus.com

February 27, 2023 12:00 AM Eastern Standard Time

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OYO Saw 20% Jump in Bookings on Presidents’ Day Weekend

OYO

Global travel technology company, OYO’s US operations saw a 23% increase in per available room (RevPar) for the 3-day long Presidents’ Day weekend (18 th – 20 th February 2023) vs Presidents’ Day weekend in 2022 (19 th – 21 st 2022). Nearly 20% more bookings were made for this weekend in OYO hotels across the country vs same period in 2022. Most bookings for this weekend came from New York, Chicago, Atlanta as well as from popular leisure markets like Nashville and Phoenix. Bookings from OYO’s own platform (website & app) grew by 41% as compared to popular OTAs (Online Travel Agents) vs 2022. Presidents Day is observed annually on the third Monday of February. It is a federal holiday celebrated in the honor of George Washington and all those who served as presidents of the United States. Talking about the weekend, Gautam Swaroop, CEO OYO International said, “Presidents’ Day weekend is a very popular mid-winter break across the United States. OYO witnessed a surge in online traffic by ~33% indicating a strong intent to travel. We have also seen a 15% jump in local travel during this period vs 2022. Travel and tourism across the country is on the road to revival and continued uplift in occupancy and RevPar are important indicators of its growth.” OYO offers hotels access to a large base of regular customers through its app and website, and also lists hotels on multiple Online Travel Agents (OTAs) to boost booking demand and, therefore, revenue. OYO’s best-in-class Artificial Intelligence-enabled pricing software automatically drives the best booking prices across all channels, based on room type, seasonality and other factors, therefore, enabling such doubling of revenues. The company also helps ensure great experience for customers, with ease of search and quick booking experience, highly competitive room prices, automated tools such as Artificial Intelligence powered chatbots to quickly resolve customer queries, loyalty programmes and easy refund, if needed. OYO’s USA operation had recently disclosed that it has outpaced the budget hotel segment’s growth in per available room revenue (RevPar) with an 18% rise in 2022 vs pre-COVID year, 2019. The budget hotel segment in the meanwhile, grew by only 6% in the US, according to STR reports. It also witnessed a 46% increase in per room revenue (RevPar) for its hotels since Covid (2020) with the strongest uplift at 64%, recorded during the peak season months of June, July, August vs the same period in 2020. Coastal Oregon, Miami, Myrtle beach, Houston and San Antonio emerged as the destinations with highest RevPar in 2022. Travel recovery was largely led by domestic travel in the US. Disclaimer: Oravel Stays Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares (the “Equity Shares”) and has filed the Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges, i.e., BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the Global Coordinators and Book Running Lead Managers, i.e., Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and Citigroup Global Markets India Private Limited at www.investmentbank.kotak.com, www.jpmipl.com and www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm; the websites of the Book Running Lead Managers, i.e., ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited and Deutsche Equities India Private Limited at www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html, www.jmfl.com and www.db.com/India, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the Registrar of Companies in the future, including the section titled “Risk Factors”. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. The Equity Shares offered in the Fresh Issue (as defined in the DRHP) and the Offer for Sale (as defined in the DRHP) have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) in transactions exempt from, or not subject to, the registration requirements under the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States. Contact Details Anupriya +91 97911 63065 anupriya.d@oyorooms.com Company Website https://www.oyorooms.com/

February 24, 2023 09:00 AM Eastern Standard Time

Beldex Raises 25M From Web3 Investor DWF Labs

Benzinga

Mahe, Seychelles (Feb 23, 2023) Beldex, a leading privacy-based crypto ecosystem has partnered with DWF Labs, a prominent digital asset market maker and multi-stage Web3 investment firm. DWF supports Beldex, and has committed $25M for the research and development of the Beldex network and ecosystem. DWF will act as the primary supporter and counselor of the Beldex project, aiding in marketing activities to improve the ecosystem participants and the reach of the project. "We are excited about Beldex's ecosystem, which offers scalable and secure decentralized applications prioritizing privacy.” said Andrei Grachev, the Managing Partner of DWF Labs. “The BDX token is integral to this ecosystem, providing a secure means of payment and incentives for users to contribute. We believe that Beldex's innovative solutions and focus on privacy and decentralization make it a strong player in the cryptocurrency space." Beldex provides unique, privacy-preserving, decentralized solutions to mask one’s online identity with its dApps like BChat, BelNet, the Beldex browser, and the Beldex privacy protocol. The dApps of the Beldex ecosystem are interoperable and provide the highest level of autonomy and anonymity to users. Chairman Afanddy Bin Hushni of Beldex said “our ecosystem is rapidly expanding. Both BChat and BelNet are live and we’re adding new features to them while actively working on the research and development of the Beldex browser, another key product in our ecosystem. Our research wing is also researching the integration of EVM to the Beldex mainnet which will allow developers to build privacy preserving smart contracts with use-cases that weren’t possible before.” With its dApps and the integration of EVM, Beldex will bring to Web3, a new paradigm of products that help provide community and enterprise blockchain solutions, some of which may include a highly private, secure, and reliable open-source network for sensitive data transfer and authentication and secure storage to name a few. Discord: https://discord.com/invite/Hj4MAmA5gs Twitter: https://twitter.com/BeldexCoin Telegram: https://t.me/official_beldex About DWF Labs DWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions. With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, DWF Labs is part of the parent firm Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high frequency trading. About Beldex Beldex is a private Web3 ecosystem building decentralized privacy-preserving applications that help protect user data and identity online. The ecosystem consists of BChat, a private messaging app, BelNet, a decentralized VPN service, the Beldex browser, an ad-free Web3 browser and the Beldex privacy protocol, a cross-chain asset anonymizer. Contact Details Shawn Gabriel shawn@beldex.io Company Website https://beldex.io/

February 23, 2023 01:30 PM Eastern Standard Time

Asure Software (NASDAQ: ASUR) Sets the Tone for 2023 with Intuit (NASDAQ: INTU) TurboTax and ZayZoon Collaborations, While Institutional Investors Boost Positions

Benzinga

By Spotlight Growth U.S. stocks surged in January 2023, as Q4 2022 financial results were not quite as bad as many analysts and experts feared. As a result, the S&P 500 (NYSE: SPY) jumped 6.18%, Dow Jones Industrial Average (NYSE: DIA) climbed 2.83% and the Nasdaq (NASDAQ: QQQ) shot up a whopping 10.6% in January 2023 alone. According to S&P Global, the somewhat better-than-expected Q4 results, combined with a late Santa Claus rally and early-year bargain hunting after a brutal 2022, are seen as the key catalysts that drove U.S. stocks to impressive returns to kick off the first month of 2023. However, as we approach March 2023, the “big three” stock indices have since given up nearly all of their gains. As of this writing, the S&P 500 and the Dow Jones Industrial Average have turned slightly negative on the year, while the Nasdaq barely holds on to a 0.08% gain YTD. Despite the continued volatility and “kangaroo market” conditions in early 2023, Asure Software (NASDAQ: ASUR) is picking up right where it left off in 2022. The Human Capital Management (HCM) solutions provider has continued its outperformance, as the company continues to collaborate and leverage key partnerships and provide small-to-medium businesses (SMBs) with the tools needed to remain nimble during the economic uncertainty, while still attracting top-tier employee talent. Asure’s strong 2022 performance and strong start to 2023 are certainly turning heads in the institutional investor community. Let’s dive deeper to understand Asure’s early accomplishments so far this year. New ASUR Collaboration: TurboTax, H&R Block, & ZayZoon Kicking off 2023, Asure sought to bolster its tax prep integrations and features to help employees of SMBs to streamline their tax filing process. To accomplish this task, Asure Software teamed up with the two biggest consumer tax preparation companies in the United States: Intuit (NASDAQ: INTU) TurboTax and H&R Block (NYSE: HRB). The TurboTax and H&R Block integrations are a massive milestone for Asure. Not only does the integration help boost Asure’s profile, but it is also a tremendous win for the company’s clients, which now can offer their employees with streamlined integration of their W-2 tax forms directly into the number 1 and 2 market leaders in the consumer tax prep industry. According to AccountingToday, TurboTax is the number one consumer tax prep company, with an estimated market share of around 30%. Slintel notes that H&R Block is second with a 24.48% market share. “Our goal is to simplify HR and payroll processes for small businesses, which includes identifying ways to help our clients attract new employees now that the war for talent has hit Main Street,” said Pat Goepel, Chairman and CEO of Asure. “We are thrilled to partner with Intuit and offer employees of our clients a seamless and efficient solution for tax filing.” Intending to help SMB clients continue increasing their competitiveness for top-tier employee talent, Asure’s most recent partnership with ZayZoon is a perfect match. ZayZoon is engaged as a market leader in earned wage access and employee financial wellness services. Under the partnership, ZayZoon will integrate its tech solutions with Asure’s payroll and time & attendance solutions to enable employees to obtain real-time wage data. The goal of this integration is to provide SMBs with tools to help employees stay engaged, reduce financial stress and increase retention and productivity. “Financial pressures can impact employees across all industries and job types. By partnering with ZayZoon we can help ease that burden by offering small business employees the option to access the funds they've earned faster when they need them most," said Pat Goepel, Chairman and CEO of Asure. “Earned wage access is fast becoming a necessity in the war for talent and we’re pleased to join forces with ZayZoon to deliver this competitive advantage to main street.” Wall Street Taking Notice of Asure Software One of the greatest forms of validation a public company can receive is strong support from the Wall Street community. Before October 2022, Asure’s top investors were mostly corporate insiders and managers. By the end of 2022, institutions were piling into the HCM provider. Aside from institutional investors, the Wall Street analyst community has been very bullish and supportive of Asure Software as well. Between November 2022 and February 2023, 50 institutions, insiders and big private investors added to their Asure Software positions, while 29 entities cut their positions in the HCM provider. This is a very good parity, which nearly shows there were two investors adding shares for each seller during the period. Top Institutional Shareholders 1. Private Capital Management, LLC: 3,797,305 shares of ASUR Private Capital Management, LLC is a Florida-based asset manager and the largest institutional shareholder of Asure Software, as of December 31, 2022, with a total stake of just under 3.8 million shares. This gives the investor 18.84% control of the company, as noted in a recent 13G filing. 2. ArrowMark Colorado Holdings, LLC: 1,778,292 shares ArrowMark Colorado Holdings aggressively added to its position in late 2022. The Denver, Colorado-based investor increased their stake by an additional 223,525 shares to reach a new total position of 1,778,292 shares, as of December 31, 2022. This represents an 8.82% ownership of Asure Software. 3. Archon Capital Management, LLC: 1,294,987 shares Based out of Seattle, Washington, Archon Capital Management is the third largest shareholder of the HCM provider, with a total stake of 1,294,987 shares, as of the end of 2022. This gives the asset manager a 6.42% stake in Asure. Analyst Updates Since the start of 2023, three analysts covering Asure stock have held their "buy" ratings and increased their price targets in the range of $12 to $14. Joshua Reilly of Needham reiterated his “buy” rating and a $14 price target in early January 2023. Four-star analyst, Eric Martinuzzi of Lake Street, also took the opportunity to reiterate a “buy” rating and a $12.00 price target in January. Vincent Colicchio, a five-star analyst from Barrington, assigned Asure a “buy” rating and a $12 price target in February 2023. Mr. Colicchio joins Richard Baldry of Roth Capital as the only two five-star analysts covering the HCM provider. Mr. Baldry last reiterated a “buy” rating and a $16 price target in March 2022. Overall, Asure Software is finally beginning to gain the recognition from Wall Street it has rightfully deserved. The company’s operational success and resilience amid a very volatile market and uncertain economic environment have certainly caught the attention of the investment community. Furthermore, Asure’s continued partnership outreach and integrations are not only giving SMB clients a notable edge in their HCM efforts but also serving as a validation for Asure as a business. Think about it…not too many other small-caps can say they have partnerships with major, household entities like Intuit TurboTax, H&R Block, Equifax (NYSE: EFX), and more. With 2023 shaping up to feature similar macroeconomic uncertainties as 2022, SMBs will likely continue to heavily rely on HCM services, like those offered by Asure, to help cut costs, streamline operations, and remain competitive in the employee talent search. Overall, 2023 is shaping up to be another break-out year for Asure Software. Disclaimer: Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement. All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated five thousand dollars cash by Asure Software for the creation and dissemination of this content by the company. This material does not represent a solicitation to buy or sell any securities. Certain statements contained herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management' beliefs and certain assumptions made by management. The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions. Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/ Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

February 23, 2023 01:00 PM Eastern Standard Time

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