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incentive-inc.com

Stage

Seed | Alive

Total Raised

$1.7M

Last Raised

$1.7M | 7 yrs ago

About Incentive

Incentive is a provider of a complete, socially powered enterprise collaboration platform for mid-market organizations and enterprise teams that want to achieve improved profitability, increased efficiency and accelerated business results. With an easy-to-use interface, Incentive's platform enables businesses to capture, collaborate and secure knowledge all in one place by tapping the power of their employees – the collective brain trust – to be better, stronger and faster than their competitors. Designed for organizations using Microsoft apps and architecture, Incentive allows users to take advantage of existing workflow apps, storage systems, and document management tools such as SharePoint in one central location, with single sign on and intelligent search. Its features include wikis, blogs, micro blogging, document collaboration, file sharing, instant messaging, video conversations, social behavior UX and API-based platform for app development.sof

Incentive Headquarters Location

1600 Main Street

Venice, California, 90291,

United States

949-235-4375

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Latest Incentive News

REN Redes Energeticas Nacionais SGPS S A : - Redes Energéticas Nacionais, SGPS, S.A. informs about Report and Accounts 1H2022

Jul 28, 2022

07/28/2022 | 12:29pm EDT Message : Consolidated Financial REPORT & ACCOUNTS JUNE'22 CONSOLIDATED FINANCIAL STATEMENTS INDEX 2 8 2. FINANCIAL PERFORMANCE 1.1 RESULTS FOR THE FIRST 6 MONTHS OF 2022 In the first 6 months of 2022, net income reached 45.9 million Euros, a 6.3 million Euros increase (+16.0%) over the same period of the previous year. Net income increased reflecting mainly the following effects: (i) increase of 10.5 million Euros in the Group EBITDA (+6.5 million Euros in EBIT), and (ii) the increase of 3.0 million Euros in financial results (+16.5%), partially offset by (iii) the increase of 0.9 million Euros in the Extraordinary Levy on the Energy Sector (+3.5%). The following events are also worth of note: Similarly to the previous years, the results for 2022 reflect the continuation of the Extraordinary Levy on the Energy Sector (28.0 million Euros in 2022 and 27.1 million Euros in 2021). For the new regulatory period of the Electricity Sector, which will be in force from 2022 to 2025, the regulator introduced in the Electricity Transmission activity a revenue cap mechanism applied to the total controllable costs (hereinafter referred to as " Totex"), replacing the reference cost incentive model in Capex and revenue cap in Opex, which had been in force since 2009. In accordance with this new model based on Totex, REN is remunerated at a fixed annual amount defined by the regulator for the entire regulatory period from 2022 to 2025, which aims to remunerate the company's operating costs (Opex) and cost of capital (Capex), this amount being updated annually in accordance with defined cost drivers and an annual efficiency factor. Investment was 78.8 million Euros, a 0.7% y.o.y decrease (-0.6 million Euros) and transfers to RAB increased 5.2 million Euros (+30.6%) to 22.0 million Euros. Average RAB increased by 87.4 million Euros (+2.5%), to 3,602.6 million Euros. The average cost of debt was 1.7%, an increase of 0.1 p.p. over the previous year, and net debt reached 2,099.4 million Euros, a 17.3% decrease (-440.5 million Euros) over the same period of the previous year. MAIN INDICATORS _____________________________________ The full amount of the levy was recorded in the 1st quarter of 2022 and 2021, according to the Portuguese Securities Market Commission (CMVM) recommendations. The net costs of 0.5 million Euros in June 2022 and 0.1 million Euros in June 2021 from electricity interconnection capacity auctions between Spain and Portugal - referred to as FTR (Financial Transaction Rights) were reclassified from financial income to Revenue. Includes direct acquisitions (RAB related). 2 | 59 Operational results - EBITDA Domestic Power Transmission and Distribution Business EBITDA for the domestic business reached 228.7 million Euros in the first 6 months of 2022, a 3.1% (+6.8 million Euros) increase over the same period of the previous year. EBITDA - TRANSMISSION 3.1% In 2022, a new regulatory period entered in force in the Electricity Sector, introducing a remuneration model based on Totex for the Electricity Transmission activity. Therefore, for comparability purposes, the 2021 values of the regulated revenue items of "RAB Remuneration", "Recovery of amortizations (net of investment subsidies)" and "Revenues from Opex " of the Electricity Transmission activity were reclassified to the item "Revenues from Totex". The values presented in 2021 correspond to the Incentive for rationalization of economic investments, which was the incentive in force until December 31, 2021, having been replaced in 2022 by the Incentive for improvement of the TSO's technical performance with the new regulatory period for 2022-2025 for the electricity sector. Includes training and seminars costs. 3 | 59 The increase in EBITDA resulted mainly from: The increase in Electricity Transmission Activity regulated revenues (+12.0 million Euros), with the introduction of the new Totex remuneration model. The rate of return of asset Electricity Transmission, was 4.7% in June of 2022, which compares to 4.5% in the same period of the previous year. The regulated revenues recorded with the new Totex model correspond to an annual fixed rent defined by the regulator, which results from an equivalent annual rent over the estimated revenues for the 2022-2025 regulatory period, thus explaining the increase over the previous year; The increase of 1.1 million Euros (+2.5%) in the recovery of amortizations, reflecting the evolution of the gross asset base; The increase of 3.3 million Euros in RAB remuneration1 (+10.0%) arising from: Increase of 1.6 million Euros in the remuneration of natural gas transmission regulated assets reflecting the increase in the rate of return from 4.5% in June 2021 to 5.0% in June 2022 - as a result of the positive evolution of the yields of the Portuguese Republic 10Y Treasury Bills; partially offset by the reduction of 27.2 million Euros (-3.0%) in natural gas transmission average RAB; Increase of 1.5 million Euros in the remuneration of natural gas distribution regulated assets, reflecting (i) the increase in the rate of return from 4.7% in June 2021 to 5.2% in June 2022 - as a result of the positive evolution of the yields of the Portuguese Republic 10Y Treasury Bills, and (ii) the increase of 11.0 million Euros in natural gas distribution average RAB (+2.3%). The reduction of 0.5 million Euros (-0.7%) mainly explained by the decrease of 2.8 million Euros in pass-through costs (costs accepted in the tariff). Excluding these costs, core opex increase 2.3 million Euros reflecting essentially the growth in costs with LNG Terminal electricity. Personnel costs increase of 0.5 million Euros (+1.9%). These effects were partially offset by: The reduction of 9.7 million Euros in the Incentive for improvement of the TSO's technical performance, reflecting the introduction of these new incentive with the new electricity regulatory period started in 2022, which replaced the previous Incentive to the rationalization of economic investments. With respect to domestic business, it is also important to note that the natural gas distribution business contributed with EBITDA of 25.1 million Euros. International Business The EBITDA for international businesses reached 9.7 million Euros in the first 6 months of 2022, a 3.7 million Euros (+60.4%) increase over the same period of the previous year, resulting mainly from: EBITDA of Transemel - an electrical power transmission company in Chile - was 5.0 million Euros, a y.o.y. increase of 1.8 million Euros (+57.1%) reflecting essentially the increase of 1.6 million Euros in revenues from the transmission of electricity (+34.2%); The increase of 1.9 million Euros (+64.7%) in the recognized income from the 42.5% stake held by REN in the Chilean company Electrogas. EBITDA - INTERNATIONAL

  • Where is Incentive's headquarters?

    Incentive's headquarters is located at 1600 Main Street, Venice.

  • What is Incentive's latest funding round?

    Incentive's latest funding round is Seed.

  • How much did Incentive raise?

    Incentive raised a total of $1.7M.

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