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Monthly News Wrap (February 2023)
Retail Trading Infrastructure
Feb 28, 2023
This week:
Funding
Turbine secures investment from Accenture Ventures
AI Drug Discovery
Yesterday
FDA approval
Karius Receives FDA breakthrough designation for its DNA-based blood test
Precision Medicine
May 16, 2024
Funding
Metabolon raises USD 60 million in debt financing to strengthen R&D capabilities and enhance metabolomics platform
Precision Medicine
May 16, 2024
Partnerships
Accelerated Biosciences and Spanios partner to advance therapeutic design in solid tumor cancers
Precision Medicine
May 16, 2024
Partnerships
Telo Genomics and Emery Pharma put together their technologies to provide clinical R&D solutions
Precision Medicine
May 16, 2024
Partnerships
Oxford Biodynamics partners with KCL to enhance rheumatoid arthritis treatment using EpiSwitch technology
Precision Medicine
May 16, 2024
Funding
Monte Rosa Therapeutics prices USD 100 million underwritten public funding
Precision Medicine
May 16, 2024
Partnerships
Nearby Computing and Alea partner to streamline mission-critical communication app deployment
Edge Computing
May 16, 2024
M&A
Snowflake reportedly in talks to acquire Reka AI for more than USD 1 billion to expand language model capabilities
Foundation Models
May 16, 2024
Funding
Stability AI to reportedly raise funds to settle debt
Foundation Models
May 16, 2024
Retail Trading Infrastructure

Retail Trading Infrastructure

View industry hub
Feb 28, 2023

Monthly News Wrap (February 2023)

Product updates
Management news
Earnings/results

Earnings/results

  • Robinhood reported a loss per share of USD 1.17 for Q4 2022, up significantly compared to the loss per share of USD 7.49 recorded in Q4 2021. The company reported total revenue of USD 380.0 million for Q4 2022, a 4.7% YoY growth compared to total revenue of USD 363.0 million recorded during the previous quarter. For Q4 2022, net interest revenue accounted for 44.0% of Robinhood’s total revenue and was up 2.7x YoY. This also drove total revenue upwards despite a decline in transaction-based revenue (down 29.6% YoY) and other revenue (down 7.1% YoY) (February 8, 2023; Company earnings release ).

Product update

  • Wells Fargo announces the launch of LifeSync, a digital financial planning and wealth management tool that will be available to its wealth management clients by the end of March 2023 (February 22, 2023; CNBC , PYMNTS ). 

Management news

  • Betterment, a robo-advisory platform, announced plans to lay off 28 staff in anticipation of rising inflation and market volatility throughout 2023. In addition, the company also plans to close its Philadelphia office and sub-lease a floor in the New York office in an additional attempt to minimize costs. (February 15, 2023; Business Insider , Think Advisor ). 

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