DGNX

As November wraps up, a holiday-shortened week of trading — courtesy of Thanksgiving Day and Black Friday — will greet investors who continue to wrestle with the fallout from Nvidia's (NVDA) blockbuster earnings report alongside flagging confidence in the overall AI-driven market. On Friday, markets capped a roller-coaster week with daily gains but weekly losses, as the tech-heavy Nasdaq Composite (^IXIC) fell over 2% while the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) fell about 1.5% for the week. A strong September jobs report, strong earnings from Nvidia, and a positive third quarter report from Walmart were all greeted on Thursday by one of the market's biggest intraday reversals of the last decade, with the S&P 500 flipping from a gain above 1.5% at the opening bell to a loss of more than 1.5% by market close. The swing in the Nasdaq was even greater. In the week ahead, the economic calendar will continue to pick up steam as the government works through a data backlog following the resolution of the shutdown earlier this month. Data on producer prices in September from the Bureau of Labor Statistics and the Census Bureau's retail sales data for the same month will be highlights, with both reports due out Tuesday amid a rush of data ahead of the Thanksgiving weekend. Investors will also keep a close eye on The Conference Board's consumer confidence reading for November, due out Tuesday. Read more: What is consumer confidence, and why does it matter? In the corporate world, a relatively quiet week of earnings awaits investors. Alibaba Holdings (BABA), Dell Technologies (DELL), and a smattering of retailers including Kohl's (KSS) and Best Buy (BBY) will headline the calendar for the week. It's been a tough month for tech bulls. Several of the "Magnificent Seven" stocks, crypto, and AI-focused plays like CoreWeave (CRWV) and Oracle (ORCL) have seen their stocks fall sharply in the past month. Meta (META) and Oracle have lost more than 15% and 25%, respectively, as both outlined plans for even more AI spending. Microsoft (MSFT) stock has dropped 9% in the last month. Nvidia stock is roughly flat over the period, while smaller chip plays like AMD (AMD) and Intel (INTC) have lost closer to 10%. Nvidia's earnings report on Wednesday evening offered plenty for AI bulls to be excited about. And its CEO, Jensen Huang, summarily dismissed fears about an AI bubble on the company's earnings call, telling investors, "We see something very different." After initially rallying, Nvidia stock faded during the day on Thursday. On Friday, the stock fell another 1%. "Nvidia just reaffirmed its role as the market’s sentiment anchor," Jake Behan, the head of capital markets at Direxion, wrote in an email. The negative reception to a positive earnings report encapsulates investor sentiment as we approach the final month of the year. "The momentum simply was not there [on Thursday] to carry the rally through, with the passing of two critical risk events — both with positive outcomes, no less — not enough to kill the bearishness gripping the markets currently," Capital.com analyst Kyle Rodda wrote in an email. This month's fears have largely centered on the infrastructure spending boom major tech companies say is necessary to meet demand for artificial intelligence, Northlight Asset Management chief investment officer Chris Zaccarelli wrote in an email. And the worry is that this boom — which has seen tech giants commit hundreds of billions towards — is turning into a bubble. Read more: How to protect your portfolio from an AI bubble "But in the meantime, the largest technology companies in the world are extremely profitable and they are reinvesting billions of dollars into data centers, servers, and chips and the spending is real," Zaccarelli said. Institutional investors like hedge funds and pension funds have been piling into tech's heavyweight names, with institutional portfolios adding $348 billion in Nvidia holdings during the third quarter, according to regulatory data compiled by LPL Financial. Total institutional holdings for both Nvidia and Microsoft have surpassed $2 trillion. While stocks notched a tough week in the red, the major indexes remain far above the lows seen in April shortly after President Trump announced his surprise "Liberation Day" tariffs. Bitcoin (BTC-USD), on the other hand, has not held up as well. The world's largest cryptocurrency fell sharply this past week, approaching $80,000 at Friday's lows and coming within a few percentage points of April's doldrums. Year to date, bitcoin has dropped nearly 10%. For companies that have made their business model acquiring bitcoin, like Michael Saylor's Strategy (MSTR), which pioneered the digital asset treasury model, performance has been even worse. Strategy is down more than 40% on the year. It might be tempting to look at bitcoin's downturn as an event isolated to the more speculative crypto markets. But these markets have become mainstream parts of the financial market fabric, and as such, have "become such a proxy for speculation" that this week's selling can't be viewed in isolation, Interactive Brokers' chief strategist Steve Sosnick wrote in an email. Macquarie Bank global strategist Viktor Shvets compared the links between "AI and digital platforms (chips, data centers, blockchain, stablecoins and cryptos)" to the Japanese concept of keiretsu, where a group of companies, instead of all acting as independent competitors, all hold stakes in the others and operate more as one entity. "While such links facilitate co-operation, they also create vulnerabilities, especially at times of distress," Shvets wrote in a recent note to clients. "Keiretsu magnifies such vulnerabilities, as an avalanche cascading through complex links." If the market turns bearish on tech, crypto is likely to be taken along for the ride in Shvets's "American Keiretsu." Economic data: Chicago Fed national activity index, October; Dallas Fed manufacturing activity, November (-5.0 previously) Earnings: Agilent Technologies (A), Symbotic (SYM), Keysight Technologies (KEYS), Zoom Communications (ZM), StoneX Group (SNEX) Economic data: Retail sales, month-on-month, September (+0.6% previously); Producer price index, month-on-month, September (-0.1% previously); PPI ex-food and energy, month-on-month, September (-0.1% previously); PPI, year-on-year, September (+2.6% previously); PPI ex-food and energy, year-on-year, September (+2.8% previously); FHFA home price index, month-on-month, September (+0.4% previously); Richmond Fed manufacturing index, November (-4 previously); The Conference Board consumer confidence, November (93.3 expected, 94.6 previously); Pending home sales, month-on-month, October (0% previously); Dallas Fed services activity, November (-9.4% previously) Earnings: Alibaba (BABA), Analog Devices (ADI), Dell Technologies (DELL), Autodesk (ADSK), Workday (WDAY), Zscaler (ZS), HP Inc. (HPQ), DICK'S Sporting Goods (DKS), Burlington Stores (BURL), Best Buy (BBY), Urban Outfitters (URBN), Pony AI (PONY), Abercrombie & Fitch (ANF), Kohl's (KSS) Economic data: MBA Mortgage Applications, week ended Nov. 21 (-5.2% previously); Initial jobless claims, week ended Nov. 22 (220,000 previously); Durable goods orders, September, preliminary reading (+2.9% previously); MNI Chicago PMI, November (43.8 previously); Federal Reserve's Beige Book Earnings: Deere & Company (DE), Li Auto (LI), Diginex Limited (DGNX), New Fortress Energy (NFE) Economic data: US markets closed for Thanksgiving holiday. Earnings: US markets closed for Thanksgiving holiday. Economic data: No notable economic data. Earnings: Nordic American Tankers (NAT), Platinum Group Metals (PLG) Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at [email protected]. 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The major averages finished this past week little changed, as a light economic and earnings calendar saw investors take the week's events in stride, even President Trump's latest tariff surprise late Thursday. This week, however, looming developments may prove more troublesome for financial markets. Tuesday is set to be a pivotal day for investors. It will mark the final day of the third quarter, an eventful period that saw the Dow (^DJI), S&P 500 (^GSPC), and Nasdaq (^IXIC) all reach record highs. Meanwhile, the US government is on a collision course with its latest shutdown, which is set to take effect at 12:01 a.m. ET on Wednesday, barring congressional action. A government shutdown potentially imperils the release of upcoming economic data, including Friday's scheduled jobs report, and may muddy the picture ahead of the Federal Reserve's next policy meeting, which is now just four weeks away. "The only realistic chance of avoiding a shutdown is for the Senate to pass the House-approved [continuing resolution]," Fundstrat's policy strategist Tom Block wrote in a note on Friday. Block noted that since this resolution would be subject to a Senate filibuster, the chamber would need 60 votes to get this bill through, which means flipping seven Democratic senators. A tall order in just a few days. President Trump is planning to host a bipartisan gathering of the top four US congressional leaders at the White House on Monday afternoon in a final effort to avoid a government shutdown. Read more: How a government shutdown would affect your student loans, Social Security, and more If released, Friday's aforementioned September jobs report is expected to be the highlight on the calendar, with Wall Street economists forecasting that the US economy created 43,000 new nonfarm payroll jobs during the month. The unemployment rate is expected to remain at 4.3%. Data on job openings, consumer confidence, and manufacturing activity are also set to feature on the economic calendar. Earnings will be quite light, with Nike's (NKE) report on Tuesday set to be the week's biggest corporate update. The big banks will get the third quarter earnings season underway in earnest in mid-October. Investors have generally been served well by not paying close attention to political goings-on. The coming week might be a hard time to resist the temptation. In addition to the looming government shutdown and the anticipated monthly jobs data, the legal fight over who sits on the Federal Reserve's Board of Governors continues to evolve. Last week, Fed governor Lisa Cook's legal team urged the Supreme Court to reject the Trump administration's efforts to remove her from her post. Cook also received the support of former Fed chairs, including Ben Bernanke and Janet Yellen, in an amicus brief filed with the Court. The Trump administration has sought to remove Cook from her post on the Fed board amid allegations of mortgage fraud related to homes purchased in 2021. A temporary court order kept Cook in attendance at this month's Fed policy meeting. When the Fed voted to cut rates by 0.25% earlier this month, only newly confirmed Fed governor Stephen Miran dissented from the opinion — Miran would've preferred a 0.50% rate cut. Fed forecasts suggest a majority of the Federal Open Market Committee (FOMC) sees the case for two more rate cuts this year, but six members of the committee actually penciled in no further cuts in 2025. Cook's removal from the Fed board and Trump's appointment of another FOMC member this year would likely add one more voice in favor of deeper rate cuts. Friday's pending jobs report — which could be left on ice in the event of a government shutdown — may help clear the path to further rate cuts this year. Read more: How jobs, inflation, and the Fed are all related But the importance of this jobs report, the last before the Fed's next meeting, is heightened given the central bank has "no risk-free path" ahead, as Fed Chair Jerome Powell described it this past week. In a note last Friday, the team at Oxford Economics said they expect the US economy added 85,000 nonfarm payroll jobs in September. This figure, the firm wrote, "should reassure the Federal Reserve that the labor market isn't deteriorating, allowing the central bank to keep policy on hold at its October meeting." If the data is actually released, that is. Oxford added that a government shutdown typically sees 40% of workers furloughed, with those workers getting back pay once the shutdown ends. The White House, however, suggested that federal agencies prep mass layoffs — not furloughs — in the event of a shutdown. And the current labor market offers few indications it's in a position to absorb thousands of newly jobless government workers. "Theoretically, the RIF [reduction in force] could target all furloughed workers, though practically it would likely be much less," economists at Bank of America wrote. "Still, any employees that lose their job would likely face a hard time finding new work, which would put upward pressure on the unemployment rate." The S&P 500 finished Friday's trading session north of 6,600. One of Wall Street's staunchest bulls sees another 400-point rally in the offing this year. Brian Belski, chief investment strategist at BMO Capital Markets, raised his price target for the benchmark index to 7,000 on Friday, writing that this target "might end up being too low." In his note, Belski reiterated the view he and his team have held for the last 15 years, which is that we are in the middle of a 25-year secular bull market. "Our process kept us invested in 2025 which resulted in the best quarterly performance during 2Q that we have ever had in over 20 years of overseeing equity portfolios," Belski wrote. "So yes, let’s chase this bull market." Belski added that his team will "gladly accept the unabashedly bullish label undoubtedly coming our way." "With the Fed cutting interest rates, earnings solidifying, AI not ANYWHERE near bubble territory and stock market performance broadening out," the firm added, "the believability and comfortability of US stocks is back in full swing, in our view." For many investors, this year's market is still defined by the shock reaction to Trump's "Liberation Day" announcements. But it only took about a month for those losses to be fully erased. Moreover, volatility has steadily come out of the market. The VIX (^VIX) has fallen from north of 50 in early April to the mid-teens as of Friday. Since July 1, the index has only traded above 20 one time. After recovering "Liberation Day" losses in early May, the S&P 500's path back to record levels has been nothing short of orderly, a behavior that has Belski recalling some of the US stock market's most decorated years. "In fact, 2025 could very well be the table setter for a 1995-1996 redux of goldilocks," Belski wrote. "We will default to the naysayers to anoint the three macro bears, which are sure to materialize." Economic data: Dallas Fed manufacturing activity, September (-1.8 prior) Earnings calendar: Carnival Corporation (CCL), Jefferies (JEF), Vail Resorts (MTN), Diginex (DGNX) Economic data: FHFA house price index, month-on-month, July (-0.2% previously); MNI Chicago PMI, September (41.5 previously); JOLTS job openings, August (7.18 million previously); Conference Board consumer confidence, September (95.8 expected, 97.4 previously); Dallas Fed services activity, September (6.8 previously) Earnings calendar: Nike (NKE), Paychex (PAYX), Lamb Weston Holdings (LW) Economic data: MBA mortgage applications, week ended Sept. 26 (0.6% previously); ADP private payrolls, September (+48,000 expected, +54,000 previously); S&P Global US manufacturing PMI, September (52 previously); ISM manufacturing PMI, September (49.2 expected, 48.7 previously); Construction spending, month-on-month, August (+0.1% expected, -0.1% previously); Wards total vehicle sales, September (16.15 million expected, 16.07 million previously) Earnings calendar: RPM International (RPM), Acuity (AYI), Levi Strauss (LEVI), Conagra Brands (CAG) Economic data: Challenger job cuts, year-on-year, September (+13.3% previously); Initial jobless claims, week ended Sept. 27 (218,000 previously); Factory orders, August (-0.1% expected, -1.3% previously); Durable goods orders, August final reading (+2.9% previously) Earnings calendar: No notable earnings. Economic data: Nonfarm payrolls, September (+43,000 expected, +22,000 previously); Unemployment rate, September (4.3% expected, 4.3% previously); Average hourly earnings, month-on-month, September (+0.3% expected, +0.3% previously); Average hourly earnings, year-on-year, September (+3.7% previously); S&P Global US services PMI, September final reading (53.9 previously); ISM services index, September (52 expected, 52 previously) Earnings calendar: No notable earnings. Correction: An earlier version of this story stated Nike would report earnings on Wednesday, Oct. 1. The company will report results after market close on Tuesday, Sept. 30. We regret the error. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance

LONDON, July 11, 2025 (GLOBE NEWSWIRE) -- Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a leading provider of Sustainability RegTech solutions, today announced its financial results for the fiscal year ended March 31, 2025. Fiscal Year ended March 31, 2025 Full-Year Highlights: Revenues for the fiscal year ended March 31, 2025, increased 57% to $2.0 million driven primarily by an increase in software subscriptions and license fees. Net loss for the fiscal year ended March 31, 2025, of $5.2 million, an increase of $0.3 million compared to the net loss of $4.9 million recorded in the prior year. Transformed balance sheet with net assets of $4.6 million at March 31, 2025, compared to net liabilities of $23.0 million at March 31, 2024. Completed Initial Public Offering (“IPO”) in January 2025. Post Year End Strategic Highlights Signed a memorandum of understanding on June 5, 2025 to acquire Resulticks Group Companies Pte Limited (“Resulticks”), subject to definitive agreements, in a transaction valued at approximately US$2 billion, to be primarily settled in Diginex ordinary shares. This combination leverages Resulticks’ real-time audience engagement, agentic AI framework, and global reach to drive sustainability, compliance, customer relationships, and collective growth. Executed a memorandum of understanding on May 23, 2025, to acquire Matter DK ApS (“Matter”), subject to definitive agreements, for approximately US$13 million in an all-share deal. Management believes the acquisition of Matter will strengthen the Company’s sustainability data coverage, ESG analytics offerings, as well as its automated data collection capabilities. Management Commentary “The year ended March 31, 2025 was a transformative period for the Company, marked by the successful completion of our IPO in January 2025, a 57% increase in revenues and strategic agreements signed during the fiscal year to boost future revenues and client acquisition with leading professional firms such as Russell Bedford International and Baker Tilly Singapore. During the year, we also enhanced our product offerings with the introduction of AI-powered compliance solutions, delivering features such as multi-variant drafting, automated risk reduction, future-proofing for evolving regulations, and improved scalability for users of our Sustainability SaaS reporting platform, diginexESG,” said Mark Blick, Chief Executive Officer of Diginex Limited. “We achieved overall revenue growth, driven in part, by a significant licensing agreement and ongoing demand for our core ESG reporting and supply chain risk management products. At the same time, we deliberately shifted resources to accelerate the development of diginexESG and diginexLUMEN, which positions us well for long-term growth and recurring revenues at the expense of revenues from one-off mandates via customization projects.” “We also maintained a disciplined approach to cost management. While general and administrative expenses increased year on year, this was primarily due to IPO related professional fees and the fair value adjustment related to the issuance of preferred shares under an anti-dilution clause following an $8 million capital raise in May 2024. We did, however, achieve cost reductions in employee benefits, IT development and maintenance costs, while continuing to deliver on our product road map, and other discretionary spending. These actions demonstrate our commitment to building a sustainable business model and cost structure that supports future profitability while continuing to fund strategic priorities.” “We’re also excited to have signed a memorandum of understanding on March 17, 2025, to pursue a dual listing of our ordinary shares on the Abu Dhabi Securities Exchange,” said Mr. Blick. “This planned listing is intended to increase exposure of Diginex to regional and international investors, strengthen our relationships in the Gulf Cooperation Council (“GCC”) region, and support Abu Dhabi’s strategic focus on sustainable finance. We believe this step aligns with our long-term commitment to expand our global presence.” The memorandum of understanding also contemplates a planned capital raise of up to USD$250 million focused on large institutional investors based in the GCC and a strategic alliance to support business growth in Abu Dhabi and the surrounding GCC region.” “Importantly, we are advancing our strategy to strengthen and diversify our technology and data capabilities through targeted acquisitions,” continued Mr. Blick. “Following the close of the fiscal year ended March 31, 2025, we signed two memoranda of understanding to acquire Resulticks and Matter, subject to definitive agreements. These transactions, if completed, would meaningfully expand our AI-driven data management and sustainability analytics capabilities globally, supporting our vision of delivering integrated, high-value solutions to clients worldwide. While both agreements remain subject to due diligence, negotiation and finalizing definitive terms, they demonstrate our commitment to disciplined, strategic growth through carefully selected acquisitions. We see powerful synergies with Resulticks in targeted sustainability marketing at scale, bringing in Matter’s sustainability data for company benchmarking and supply chain due diligence through diginexLUMEN, and the provision of AI enabled sustainability reporting capabilities with diginexESG.” “Looking ahead, we have reason for optimism as our Company is on the leading edge of fundamental changes in the data industry that will drive future growth. We remain committed to investing across the Diginex platforms, enhancing our global market presence both organically and through acquisitions, and managing our operations with discipline to deliver long-term value to our shareholders,” Mr. Blick stated. Revenues For the fiscal year ended March 31, 2025, total revenue increased by $0.7 million to $2.0 million, compared to $1.3 million in the prior year. The increase was primarily attributable to a $0.9 million license fee from the granting of a non-exclusive right to distribute a white-label version of diginexESG. Excluding this transaction, revenue from software subscriptions and licenses remained stable at $0.4 million for the year. Subscription and license fees are generated from sales of diginexESG and diginexLUMEN. Revenue from advisory fees increased modestly to $0.3 million, reflecting an improvement of $0.1 million compared to the prior year. Advisory services includes projects such as developing ESG strategies, conducting ESG materiality assessments or conducting training sessions on a range of ESG topics. The increase in total revenue was partially offset by a decline in revenue from customization projects, which decreased by $0.3 million to $0.4 million for the fiscal year ended March 31, 2025. This reduction was an expected outcome of the Company’s strategic decision to allocate more resources to the development and expansion of diginexESG and diginexLUMEN, leading to a temporary reduction in the acceptance of customization projects. “We are focused on building long-term, sustainable growth across all of our service lines,” said Mr. Blick. “This year’s results highlight the strength of our core subscription business and our ability to unlock additional revenue opportunities through strategic agreements and licensing agreements.” General and Administrative Expenses For the fiscal year ended March 31, 2025, general and administrative expenses increased by $1.0 million to $10.3 million, compared to $9.3 million in the prior fiscal year. This increase was primarily driven by higher professional fees associated with the Company’s IPO and a share-based payment expense related to preferred shares issued under an anti-dilution clause triggered by a capital raise completed in May 2024. These higher costs were partially offset by reductions in employee benefits, IT development and maintenance support, while continuing to deliver on our product roadmap, and audit fees. Employee benefits decreased by $0.2 million which was the result of reduced costs associated with the fair value of employee share options granted to employees of $0.5 million and a partially offsetting increase in salaries of $0.3 million. Headcount at March 31, 2025 was 32 and included 23 employees and 9 contractors compared to a headcount of 29 at March 31, 2024, which included 22 employees and 7 contractors. Balance Sheet Highlights At March 31, 2025, net assets of $4.6 million represented a transformation and significant improvement from net liabilities of $23.0 million at March 31, 2024. The improvement was driven by the capitalization of shareholder loans and advances, convertible loan notes and redeemable preferred shares. The capitalization events were triggered by the IPO. The Company’s cash position of $3.1 million at March 31, 2025, is also higher than the $0.1 million of cash reported at March 31, 2024. The balance sheet at March 31, 2025, held no interest-bearing debt instruments. “The strengthening of our balance sheet following our IPO marks an important milestone for the company,” concluded Mr. Blick. “This enhanced financial position gives us the flexibility to invest in growth, pursue strategic initiatives, and deliver sustainable value to our shareholders. We remain committed to disciplined capital management as we expand our operations, strengthen key partnerships, and execute on our long-term vision to drive innovation and create a lasting impact in our industry.” About Diginex Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. The award-winning diginexESG platform supports 19 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and ISSB (IFRS Sustainability Disclosure Standards). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service. For more information, please visit the Company’s website: https://www.diginex.com/. Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results disclosed in the Company's filings with the SEC. Diginex Investor Relations Email: [email protected] IR Contact - Europe Anna Höffken Phone: +49.40.609186.0 Email: [email protected] IR Contact - US Jackson Lin Lambert by LLYC Phone: +1 (646) 717-4593 Email: [email protected] IR Contact - Asia Shelly Cheng Strategic Financial Relations Ltd. Phone: +852 2864 4857 Email: [email protected]