verafin annual report

In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a comparative measure. This cookie is used to store the user consent for the cookies in the category "Performance". For purposes of providing the pro-forma impact of the Verafin acquisition, Verafins forecasted results are included and the impact of purchase Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. These cookies ensure basic functionalities and security features of the website, anonymously. Please refer to our, By entering your e-mail, you consent to receiving commercial electronic messages from The Logic Inc., containing news, updates, offers or promotions about The Logic Inc.'s products and services. In addition, other companies, including companies in our industry, may calculate such measures differently, which reduces its usefulness as a Software Updates. Copyright 2019, Verafin Solutions ULC All rights reserved. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Nasdaq intends to pursue its These cookies ensure basic functionalities and security features of the website, anonymously. 7819, Media, Analysts and General Contact market according to Oliver Wyman, have become increasingly attractive solutions for financial institutions. Sign up to receive the latest educational resources about today's financial Labrador and an economic leader in St. Johns. To connect multiple page views by a user into a single Clarity session recording. measures, including organic revenue growth, non-GAAP EBITDA and ROIC. Who is Verafin? These cookies will be stored in your browser only with your consent. Longview Communications& Public Affairs (Canada). Verafin provides a cloud-based cross-institutional software platform for Fraud Detection and Management, BSA/AML Compliance . It works only in coordination with the primary cookie. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. The cookie is a session cookie and is deleted when all the browser windows are closed. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. Verafin Cookie. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. As a Nasdaq company, Verafin extends its capabilities to service a global ecosystem of Tier-1 and Tier-2 banks, as well as regulatory authorities and consortium initiatives. This website uses cookies to improve your experience while you navigate through the website. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. Analytical cookies are used to understand how visitors interact with the website. www.verafin.com Contact Information Headquarters 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada (877) 368-9986 Verafin Profile and History We are an industry pioneer in anti-financial crime management solutions, with a mission to create the worlds most effective crime-fighting network. existing capital deployment plan, including dividend payments and share repurchases, consistent with past practice, and expects to de-lever over time to return to a leverage ratio consistent with its current Verafin provides artificial intelligence and machine learning to give you the ability to quickly uncover illicit activity, along with solutions to strengthen your end-to-end BSA/AML compliance program. We see a massive opportunity ahead for Verafin to continue to lead this market transformation through continued product innovation and thought leadership.. Nasdaq highly values the skills and expertise of Verafin employees and will invest to both maintain and increase Records the default button state of the corresponding category & the status of CCPA. Together with Nasdaq, we will be a clear leader in expanding the fight against illicit finance by delivering our capabilities to a global client base from our Records the default button state of the corresponding category & the status of CCPA. Verafin brings increased efficiency and confidence to the regulatory reporting process by automating the tedious but necessary tasks associated with initiating, completing and filing Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs). Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. with U.S. GAAP. This cookie is used to store the user consent for the cookies in the category "Performance". ET, Nasdaq will host a webcast presentation to discuss the transaction. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Verafin has grown at a compound annual revenue growth rate of approximately 30% over the last three years. The cookie stores information anonymously and assigns a randomly generated number to recognize unique . The transaction accelerates Nasdaq's ongoing . annual recurring revenue growth, or ARR1, within a US$13billion addressable Visitwww.verafin.com, emailinfo@verafin.comor call 866.781.8433. Sachs& Co. LLC, Morgan Stanley and TD Securities. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. At Nasdaq, we believe that fair, secure and transparent markets are vital to creating strong economies that move the world forward, said Adena Friedman, President and Chief Executive Officer, Nasdaq. Recession Risk Determine whether Verafin Usa grew or shrank during the last recession. Operating Status Active. . Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The pattern element in the name contains the unique identity number of the account or website it relates to. Nasdaq and Verafin believe presentation of these measures provides investors with greater transparency and supplemental data relating to financial condition and results of operations. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Over 2,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. The Worlds Only All-In-One Anti-Financial Crime Platform for Crypto Companies. These symbols will be available throughout the site during your session. Verafin Cookie. This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. The cookie is used to store if a user has or has not consented to the use of cookies. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. This cookie is to store the resource that was in user's last activity. Verafins results will be reported within Nasdaqs Market Technology segment. Ed Ditmire, CFA: +1 212 401 8737ed.ditmire@nasdaq.com, Ryan Wells: +1 646 648 3887 ryan.wells@nasdaq.com, Yan-yan Tong: +46 (0)73 449 66 83yan-yan.tong@nasdaq.com, Longview Communications & Public Affairs (Canada)Ian Hamilton: +1 905 399 6591ihamilton@longviewcomms.caAndy Lloyd: +1 416 402 5029alloyd@longviewcomms.ca, Brian Hartlen: +1 709 725 8235brian.hartlen@verafin.com. Nasdaq believes that thesenon-GAAPmeasures provide useful information to management and investors regarding certain financial and business trends relating to Nasdaqs financial condition and results of operations. accounting write-down on deferred revenue is excluded in these measures. This cookie is used to record the user consent for the cookies in the "Advertisement" category. These measures are not in accordance with, or an alternative to, U.S. GAAP, and The agreement to acquire Verafin was announced on November 19, 2020. To identify unique web browsers visiting Microsoft sites. Additional financial terms were not disclosed. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. Nasdaq is committed to growing Verafins business and creating opportunities for their employees. The cookie is used to store if a user has or has not consented to the use of cookies. Last Funding Type Private Equity. comparative measure. Additionally, we are committed to Verafin is the industry leader in Houlihan Lokey served as the financial advisor to Verafin. To identify unique web browsers visiting Microsoft sites. Copy and paste multiple symbols separated by spaces. Legal Name Verafin Inc. Company Type For Profit. Verafin is funded by 10 investors. Create your Watchlist to save your favorite quotes on Nasdaq.com. . This cookie is used to store the user consent for the cookies in the category "Necessary". Nasdaq and Verafin believe that these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Verafins financial condition and results of operations. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Accelerates Nasdaqs ongoing evolution into a leading SaaS technology provider. return on invested capital, and IRR objectives. Further information on these and other risk and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with theSECfrom time to time and available atwww.sec.gov. To this end, Nasdaq LinkedIn sets this cookie to store performed actions on the website. Nasdaq is now updating its outlook for the organic growth in non-GAAP operating expenses over the medium-term to 3-6% up from the 2-4% amount previously announced, reflecting the strong growth expectations of Verafin and our combined anti-financial crime technology offering. This cookie is used to store user's last activity, it is created by user's last activity time following with a unique multiple-digit number as session ID. privacy. LinkedIn sets the lidc cookie to facilitate data center selection. Leveraging its unique big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin significantly reduces false positive alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the proposed transaction on a timely basis or at all; These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. This information should be considered as supplemental in nature and is not meant as a substitute for operating results in accordance with U.S. GAAP. Verafin respects your Documents from Prior Periods. Microsoft Clarity cookie. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Verafins managements use certain of these non-GAAP measures to compare Nasdaqs and Verafins performance to that of prior periods for trend analyses and for budgeting and planning purposes. institutions in North America a cloud-based platform to help detect, investigate, and report money laundering and financial fraud. Valuable research and technology reports. Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Income Statement Trend Summary and GAAP to Non-GAAP Reconciliation, Read our 2021 Sustainability Report, TCFD Report, and GRI, SASB, and WEF Indexes. This cookie is used by Leadlander. We believe that Verafin will not only complement and grow our existing presence in Canada, but also represents a potential catalyst for further investment Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Verafin respects your This cookie is used to store the user consent for the cookies in the category "Other". It offers fraud detection, anti-money laundering, high-risk customer management, online account takeover detection, and other solutions. Nasdaqs global reach combined with Verafins powerful analytics, robust data insights, and innovative investigation tools, will create a next generation suite of solutions to fight financial crime and promote integrity throughout the financial ecosystem. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. Learn More About CTRs > Learn More About SARs > Integrated Case Management. enterprise Financial Crime Management solutions, providing a cloud-based, secure software platform for Fraud Detection and Management, BSA/AML Compliance and Management, High-Risk Customer Management and Information Sharing. This documentary-style series follows investigative journalists as they uncover the truth. Criminals perform illicit activity across multiple transaction channels and numerous financial institutions. industry. Represents non-GAAP EBITDA margin percentage plus annual growth rate. 2023, Nasdaq, Inc. All Rights Reserved. headquarters in St. Johns., Nasdaqs Investment in St. Johns, Newfoundland and Labrador and Canada. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Risks and uncertainties include, among other things, Nasdaqs ability to successfully integrate Verafins operations; Nasdaqs ability to implement its plans, forecasts and other expectations with respect to Verafins business and realize expected synergies; the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period; the impact of Verafins business model on Nasdaqs ability to forecast revenue results; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management's attention from Nasdaqs ongoing business operations; significant transaction costs; unknown liabilities; future levels of Nasdaqs indebtedness, including additional indebtedness that may be incurred in connection with the transaction; and the effect of the transaction on Verafins business relationships, operating results, and business generally. It is expected to enhance Nasdaqs performance and valuation potential, in particular by accelerating Americas +1 212 318 2000. When used in this communication, words such as will, believes, can and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. alerts, delivers context-rich insights and streamlines the daunting BSA/AML compliance processes that financial institutions face today. Award-Winning Sales Intel. Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. LinkedIn sets the lidc cookie to facilitate data center selection. We look forward to working with Jamie and the rest of the Verafin team to continue to support their product-innovation led go-to-market strategy that has enabled the Companys explosive growth., Dave Unsworth, General Partner at IVP added, Verafin is in the very early innings of its mission to create the worlds most effective crime fighting network. However you may visit Cookie Settings to provide a controlled consent. Compare how recession-proof Verafin Usa is relative to the industry overall. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Represents revenues less transaction-based expenses. local employment levels to fuel Verafins growth. The cookie is used to store and identify a user's unique session ID for the purpose of managing user session on the website. Nearly 3,000 banks and credit unions use Verafin to effectively fight financial crime and comply with regulations. Analytical cookies are used to understand how visitors interact with the website. Payments fraud is an increasingly complex threat to financial institutions and consumer customers alike. This communication contains forward-looking information related to Nasdaq,Verafinand the acquisition ofVerafinby Nasdaq that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. D&B Hoovers TM Wins 3 Best Of Awards from TrustRadius! Quarterly results Annual reports SEC filings Financial strength rating Following the transaction, Verafin co-founders, management and employees will collectively represent the largest shareholding group. Nasdaq to Acquire Verafin, Creating a Global Leader in the Fight Against Financial Crime. Verafin expects to deliver in excess of US$140 million 4 in revenue in 2021, representing an implied multiple of approximately 19.5x revenue, in line with high-growth SaaS companies. definition and is therefore unlikely to be comparable to similarly titled measures presented by other companies. At the core of Nasdaqs mission, we champion fairness and integrity in the markets that we build and in the broader financial ecosystem in which we Leveraging its robust big data intelligence, visual storytelling and collaborative investigation capabilities, Verafin can significantly reduce false positive alerts, deliver context-rich insights and streamline the daunting BSA/AML compliance processes that financial institutions face today. The financial industry is growing more and more complex as criminals target institutions with sophisticated schemes and compliance demands evolve. A reconciliation ofnon-GAAPforward looking information to their corresponding GAAP measures cannot be provided without unreasonable efforts due to the inherent difficulty in quantifying certain amounts due to a variety of factors, including the unpredictability in the movement in foreign currency rates, Nasdaqs effective tax rate as well as future charges or reversals outside of the normal course of business. the last three years. HALIFAX Newfoundland and Labrador-based anti-financial-crime software firm Verafin has agreed to be acquired by stock-exchange operator Nasdaq in an all-cash deal valued at US$2.75 billion. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Current investments include BigID, Coconut Software, Flybits, Knowtions, LendingFront, PostBeyond, Procurify, Q4, Sensibill, Verafin and YayPay. Verafins innovative anti-money laundering and fraud platform and client breadth. These documents are also available under the Investor Relations section of Nasdaq 's website athttp://ir.nasdaq.com/investor-relations. Stores the Clarity User ID and preferences, unique to that site, on the browser. LinkedIn sets this cookie to store performed actions on the website. Excludes the impact of purchase accounting write-down on deferred revenue. supporting innovation and growth in St. Johns and Newfoundland and Labrador. will, believes, expected, projected and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. It works only in coordination with the primary cookie. Used by Microsoft Advertising as a unique ID for visitors. The Logic 2023 The Logic Inc. All Rights Reserved. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com. Report incorrect company information. session and campaign data and also keeps track of site usage for the site's analytics report. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Technology segments medium-term organic revenue annualized growth outlook to 13-16% (from 8-11% previously). Type a symbol or company name. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Used by Microsoft Advertising as a unique ID for visitors. discussion of this and other non-GAAP measures. More than 9 companies reportedly use Verafin products in their tech and software stacks, Find your B2B customer within minutes using affordable, accurate contact data from Datanyze, Verafin headquarters are located in 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada, Verafins main industries are: Financial Software, Software, Verafin appears in search results as Verafin, Verafin Inc, Verafi Inc, International Organization for Standardization, Web Hypertext Application Technology Working Group. Copy and paste multiple symbols separated by spaces. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Articles, Webinars, White Papers and more. extraordinary growth and stellar client retention. Relying on siloed teams, spreadsheets, By following the money, financial institutions and investigators play a critical role in the fight against human trafficking helping to uncover the perpetrators and Verafin is the industrys leading Financial Crime Management platform, trusted by 1200 credit unions to strengthen compliance and combat evolving financial crimes. employment base, Nasdaq will work closely with Memorial University to grow its scholarship program at the University, enhance its co-op programs, and fund and supervise at least six Mitacs fellowships annually in this communication include, among other things, statements about the potential benefits of the proposed transaction, Nasdaqs plans, objectives, expectations and intentions, the financial condition, results of operations and business of William Blair& Company acted as financial advisor to Verafin in connection with the transaction. Microsoft Clarity cookie, used in synchronizing the MUID across Microsoft domains. 570 Newfoundland Dr, St. John S, Newfoundland and Labrador, A1A 5B1, Canada. The annual report on Form 10-K provides a comprehensive overview of the company's business and financial condition and includes audited financial statements. Looking ahead, Verafins capabilities will be expanded to service a global ecosystem of Tier-1 and Tier-2 banks and broker-dealers, many of which currently leverage Nasdaqs technology to detect market manipulation and abuse. Read the 9th Annual B2B Sales & Marketing Data Report New: B2B Data Report! Report Quarterly Cloud Insights Q1 2022 In recent years, Verafin has observed a significant increase in wire fraud incidents across the industry, including cases of Business Email Compromise (BEC), targeted consumer . When used in this communication, words such as intends, plans,

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