Category: Artificial Intelligence

MIL-OSI: National Bank Holdings Corporation Announces Second Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

DENVER, July 22, 2025 (GLOBE NEWSWIRE) — National Bank Holdings Corporation (the “Company”) reported:


	For the quarter⁽¹⁾									For the six months ended⁽¹⁾
	2Q25			1Q25			2Q24			2025			2024
Net income ($000’s)	$	34,022		$	24,231		$	26,135		$	58,253		$	57,526
Earnings per share – diluted	$	0.88		$	0.63		$	0.68		$	1.51		$	1.50
Return on average assets		1.38	%		0.99	%		1.06	%		1.19	%		1.17	%
Return on average tangible assets⁽²⁾		1.49	%		1.09	%		1.17	%		1.29	%		1.28	%
Return on average equity		10.15	%		7.42	%		8.46	%		8.80	%		9.37	%
Return on average tangible common equity⁽²⁾		14.18	%		10.64	%		12.44	%		12.44	%		13.77	%

(1	)	Ratios are annualized.
(2	)	See non-GAAP reconciliations below.

In announcing these results, Chief Executive Officer Tim Laney shared, “We delivered quarterly earnings of $0.88 of earnings per diluted share and a return on average tangible common equity of 14.18%. Year-over-year fully taxable equivalent pre-provision net revenues grew by 19.9% highlighted by a strong net interest margin of 3.95%. We remain diligent in monitoring our loan book and maintaining a disciplined approach to extending credit, which resulted in just 5 basis points of annualized net charge-offs during the quarter.”

Mr. Laney added, “Our solid results continue to generate meaningful capital growth with a Common Equity Tier 1 capital ratio of 14.2%. Our excess capital position provides us with optionality to act on a variety of growth opportunities. We are pleased with the recent launch of 2UniFi, an innovative financial ecosystem that we believe can change the way business owners and operators access the U.S. banking system. 2UniFi is built to empower business entrepreneurs with banking and business tools that save time, reduce stress, and help them grow their business.”

Second Quarter 2025 Results
(All comparisons refer to the first quarter of 2025, except as noted)

Net income increased $9.8 million, or 40.4%, to $34.0 million or $0.88 per diluted share, compared to $24.2 million or $0.63 per diluted share. Fully taxable equivalent pre-provision net revenue increased $1.5 million, or 14.3% annualized, to $43.5 million. The return on average tangible assets increased 40 basis points to 1.49%, and the return on average tangible common equity increased 3.54% to 14.18%. Compared to the second quarter of 2024, fully taxable equivalent pre-provision net revenue increased $7.2 million or 19.9%.

Net Interest Income
Fully taxable equivalent net interest income increased $0.7 million to $89.3 million due to one additional day during the second quarter. The fully taxable equivalent net interest margin widened two basis points to 3.95%, driven by a three basis point increase in earning asset yields, partially offset by an increase in the cost of funds.

Loans
Loans totaled $7.5 billion at June 30, 2025, compared to $7.6 billion. We generated quarterly loan fundings of $322.7 million, led by commercial loan fundings of $219.6 million. The second quarter’s weighted average rate on new loans at the time of origination was 7.4%, compared to a weighted average yield of 6.5% on our loan portfolio.

Asset Quality and Provision for Credit Losses
The Company recorded no provision expense for credit losses, compared to $10.2 million in the previous quarter. Annualized net charge-offs totaled 0.05% of average total loans, compared to 0.80%. Non-performing loans totaled 0.45% of total loans at June 30, 2025, consistent with the previous quarter, and non-performing assets decreased one basis point to 0.45% of total loans and OREO at June 30, 2025. The allowance for credit losses as a percentage of loans increased one basis point to 1.19% at June 30, 2025.

Deposits
Average total deposits decreased $58.8 million to $8.2 billion during the second quarter 2025, and average transaction deposits (defined as total deposits less time deposits) decreased $85.3 million to $7.1 billion. The loan to deposit ratio totaled 90.5% at June 30, 2025, compared to 90.8%. The mix of transaction deposits to total deposits was 87.0% at June 30, 2025, compared to 87.4%.

Non-Interest Income
Non-interest income increased $1.7 million, or 11.0%, to $17.1 million during the second quarter. Income from partnership investments increased $0.6 million, bank card fees increased $0.5 million, SBA loan gains on sale increased $0.2 million, and the sales of two previously consolidated banking center properties drove a $1.3 million gain. Mortgage banking income decreased $0.8 million.

Non-Interest Expense
Non-interest expense totaled $62.9 million, compared to $62.0 million in the first quarter, which benefited from the $1.9 million payroll tax credits realized in the first quarter. Excluding the impact from the first quarter’s payroll tax credits, non-interest expense decreased $1.0 million due to our disciplined expense management. The second quarter’s non-interest expense includes $0.3 million of non-recurring restructuring charges as a result of expense reduction actions executed during the quarter. The fully taxable equivalent efficiency ratio improved 42 basis points to 57.3%, excluding other intangible assets amortization.

Income tax expense totaled $7.5 million, compared to $5.6 million in the previous quarter, as a result of higher pre-tax income in the second quarter. The effective tax rate was 18.1%, compared to 18.8% in the first quarter.

Capital
Capital ratios continue to be well in excess of federal bank regulatory agency “well capitalized” thresholds. The tier 1 leverage ratio totaled 11.18%, and the common equity tier 1 capital ratio totaled 14.17% at June 30, 2025. Shareholders’ equity increased $23.2 million to $1.4 billion at June 30, 2025, primarily driven by $22.5 million of growth in retained earnings from net income after covering the quarter’s dividend, and a $4.1 million improvement in accumulated other comprehensive loss due to changes in the interest rate environment.

Common book value per share increased $0.65 to $35.55 at June 30, 2025. Tangible common book value per share increased $0.70 to $26.64 driven by the quarter’s earnings after covering the quarterly dividend, and a $0.11 improvement in accumulated other comprehensive loss.

Year-Over-Year Review
(All comparisons refer to the first six months of 2024, except as noted)

Net income increased $0.7 million to $58.3 million or $1.51 per diluted share, compared to $57.5 million or $1.50 per diluted share. Fully taxable equivalent pre-provision net revenue increased $8.6 million to $85.4 million. The return on average tangible assets increased one basis point to 1.29%, and the return on average tangible common equity was 12.44%, compared to 13.77%.

Fully taxable equivalent net interest income increased $6.9 million to $177.9 million. The fully taxable equivalent net interest margin widened 17 basis points to 3.94%, driven by a 21 basis point decrease in the cost of funds, partially offset by a three basis point decrease in earning asset yields.

Loans outstanding totaled $7.5 billion as of June 30, 2025, compared to $7.7 billion. New loan fundings over the trailing twelve months totaled $1.4 billion, led by commercial fundings of $928.3 million.

The Company recorded $10.2 million of provision expense for credit losses, compared to $2.8 million in the same period prior year. Annualized net charge-offs totaled 0.43% of average total loans, compared to 0.11% net charge-offs in the same period prior year. Non-performing loans totaled 0.45% of total loans at June 30, 2025, compared to 0.34% in the prior year. Non-performing assets totaled 0.45% of total loans and OREO at June 30, 2025, compared to 0.36% in the prior year. The allowance for credit losses as a percentage of loans totaled 1.19% at June 30, 2025, compared to 1.25% at June 30, 2024.

Average deposits totaled $8.2 billion, compared to $8.3 billion in the same period prior year, and average transaction deposits totaled $7.2 billion, compared to $7.3 billion in the same period prior year. The mix of transaction deposits to total deposits was 87.0% at June 30, 2025, compared to 87.8%.

Non-interest income increased $0.7 million to $32.4 million primarily due to a $0.7 million increase in the gains on sales of previously consolidated banking center properties and a $0.4 million increase in trust income.

Non-interest expense decreased $1.0 million to $124.9 million as a result of disciplined expense management and payroll tax credits realized during the first quarter 2025.

Income tax expense totaled $13.1 million, consistent with the same period prior year. The effective tax rate was 18.4%, compared to 18.6% in the same period prior year.

Conference Call
Management will host a conference call to review the results at 11:00 a.m. Eastern Time on Wednesday, July 23, 2025. Interested parties may listen to this call by dialing (877) 400-0505 using the participant passcode of 9935135 and asking for the NBHC Q2 2025 Earnings Call. The earnings release and a link to the replay of the call will be available on the Company’s website at www.nationalbankholdings.com by visiting the investor relations area.

About National Bank Holdings Corporation
National Bank Holdings Corporation is a bank holding company created to build a leading community bank franchise, delivering high quality client service and committed to stakeholder results. Through its bank subsidiaries, NBH Bank and Bank of Jackson Hole Trust, National Bank Holdings Corporation operates a network of over 85 banking centers, serving individual consumers, small, medium and large businesses, and government and non-profit entities. Its banking centers are located in its core footprint of Colorado, the greater Kansas City region, Utah, Wyoming, Texas, New Mexico and Idaho. Its comprehensive residential mortgage banking group primarily serves the bank’s core footprint. Its trust and wealth management business is operated in its core footprint under the Bank of Jackson Hole Trust charter. NBH Bank operates under a single state charter through the following brand names as divisions of NBH Bank: in Colorado, Community Banks of Colorado and Community Banks Mortgage; in Kansas and Missouri, Bank Midwest and Bank Midwest Mortgage; in Texas, Utah, New Mexico and Idaho, Hillcrest Bank and Hillcrest Bank Mortgage; and in Wyoming, Bank of Jackson Hole and Bank of Jackson Hole Mortgage. Additional information about National Bank Holdings Corporation can be found at www.nationalbankholdings.com.

For more information visit: cobnks.com, bankmw.com, hillcrestbank.com, bankofjacksonhole.com, or nbhbank.com, or connect with any of our brands on LinkedIn.

About Non-GAAP Financial Measures
Certain of the financial measures and ratios we present, including “tangible assets,” “return on average tangible assets,” “tangible common equity,” “return on average tangible common equity,” “tangible common book value per share,” “tangible common equity to tangible assets,” “non-interest expense excluding other intangible assets amortization,” “efficiency ratio excluding other intangible assets amortization,” “net income excluding the impact of other intangible assets amortization expense, after tax,” “pre-provision net revenue” and “fully taxable equivalent” metrics, are supplemental measures that are not required by, or are not presented in accordance with, U.S. generally accepted accounting principles (GAAP). We refer to these financial measures and ratios as “non-GAAP financial measures.” We consider the use of select non-GAAP financial measures and ratios to be useful for financial and operational decision making and useful in evaluating period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain expenditures or assets that we believe are not indicative of our primary business operating results or by presenting certain metrics on a fully taxable equivalent basis. We believe that management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, analyzing and comparing past, present and future periods.

These non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP and you should not rely on non-GAAP financial measures alone as measures of our performance. The non-GAAP financial measures we present may differ from non-GAAP financial measures used by our peers or other companies. We compensate for these differences by providing the equivalent GAAP measures whenever we present the non-GAAP financial measures and by including a reconciliation of the impact of the components adjusted for in the non-GAAP financial measure so that both measures and the individual components may be considered when analyzing our performance. A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included at the end of the financial statement tables.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not discuss historical facts but instead relate to expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance. Forward-looking statements are generally identified by words such as “anticipate,” “believe,” “can,” “would,” “should,” “could,” “may,” “predict,” “seek,” “potential,” “will,” “estimate,” “target,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “intend,” “goal,” “focus,” “maintains,” “future,” “ultimately,” “likely,” “ensure,” “strategy,” “objective,” and similar words or phrases. These statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties. We have based these statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, liquidity, results of operations, business strategy and growth prospects. Forward-looking statements involve certain important risks, uncertainties and other factors, any of which could cause actual results to differ materially from those in such statements and, therefore, you are cautioned not to place undue reliance on such statements. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to: business and economic conditions along with external events both generally and in the financial services industry; susceptibility to credit risk and fluctuations in the value of real estate and other collateral securing a significant portion of our loan portfolio, including with regards to real estate acquired through foreclosure, and the accuracy of appraisals related to such real estate; the allowance for credit losses and fair value adjustments may be insufficient to absorb losses in our loan portfolio; our ability to maintain sufficient liquidity to meet the requirements of deposit withdrawals and other business needs; changes impacting monetary supply and the businesses of our clients and counterparties, including levels of market interest rates, inflation, currency values, monetary and fiscal policies, and the volatility of trading markets; changes in the fair value of our investment securities and the ability of companies in which we invest to commercialize their technology or product concepts; the loss of certain executive officers and key personnel; any service interruptions, cyber incidents or other breaches relating to our technology systems, security systems or infrastructure or those of our third-party providers; the occurrence of fraud or other financial crimes within our business; competition from other financial institutions and financial services providers and the effects of disintermediation within the banking business including consolidation within the industry; changes to federal government lending programs like the Small Business Administration’s Preferred Lender Program and the Federal Housing Administration’s insurance programs, including the impact of a government shutdown of such programs; impairment of our mortgage servicing rights, disruption in the secondary market for mortgage loans, declines in real estate values, or being required to repurchase mortgage loans or reimburse investors; developments in technology, such as artificial intelligence, the success of our digital growth strategy, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our clients’ expectations for convenience and security; our ability to execute our organic growth and acquisition strategies; the accuracy of projected operating results for assets and businesses we acquire as well as our ability to drive organic loan growth to replace loans in our existing portfolio with comparable loans as loans are paid down; changes to federal, state and local laws and regulations along with executive orders applicable to our business, including tax laws; our ability to comply with and manage costs related to extensive government regulation and supervision, including current and future regulations affecting bank holding companies and depository institutions; the application of any increased assessment rates imposed by the Federal Deposit Insurance Corporation (“FDIC”); claims or legal action brought against us by third parties or government agencies; and other factors, risks, trends and uncertainties described elsewhere in our other filings with the Securities and Exchange Commission (the “SEC”). The forward-looking statements are made as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law.

Contacts:
Analysts/Institutional Investors:
Emily Gooden, Chief Accounting Officer and Investor Relations Director, (720) 554-6640, ir@nationalbankholdings.com
Nicole Van Denabeele, Chief Financial Officer, (720) 529-3370, ir@nationalbankholdings.com

Media:
Jody Soper, Chief Marketing Officer, (303) 784-5925, Jody.Soper@nbhbank.com

NATIONAL BANK HOLDINGS CORPORATION
FINANCIAL SUMMARY
Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except share and per share data)


	For the three months ended						For the six months ended
	June 30,		March 31,		June 30,		June 30,		June 30,
	2025		2025		2024		2025		2024
Total interest and dividend income	$	131,220	$	129,963	$	132,447	$	261,183	$	264,179
Total interest expense		43,811		43,272		48,873		87,083		96,575
Net interest income		87,409		86,691		83,574		174,100		167,604
Taxable equivalent adjustment		1,912		1,910		1,711		3,822		3,403
Net interest income FTE⁽¹⁾		89,321		88,601		85,285		177,922		171,007
Provision expense for credit losses		—		10,200		2,776		10,200		2,776
Net interest income after provision for credit losses FTE⁽¹⁾		89,321		78,401		82,509		167,722		168,231
Non-interest income:
Service charges		4,127		4,118		4,295		8,245		8,686
Bank card fees		4,732		4,194		4,882		8,926		9,460
Mortgage banking income		2,547		3,315		3,296		5,862		5,951
Other non-interest income		5,660		3,749		1,556		9,409		7,626
Total non-interest income		17,066		15,376		14,029		32,442		31,723
Non-interest expense:
Salaries and benefits		37,746		34,362		36,933		72,108		73,453
Occupancy and equipment		9,436		10,837		10,120		20,273		20,061
Professional fees		1,680		1,423		1,706		3,103		3,352
Data processing		4,452		4,401		4,117		8,853		8,183
Other non-interest expense		7,670		9,017		8,222		16,687		16,875
Other intangible assets amortization		1,947		1,977		1,977		3,924		3,985
Total non-interest expense		62,931		62,017		63,075		124,948		125,909

Income before income taxes FTE⁽¹⁾		43,456		31,760		33,463		75,216		74,045
Taxable equivalent adjustment		1,912		1,910		1,711		3,822		3,403
Income before income taxes		41,544		29,850		31,752		71,394		70,642
Income tax expense		7,522		5,619		5,617		13,141		13,116
Net income	$	34,022	$	24,231	$	26,135	$	58,253	$	57,526
Earnings per share – basic	$	0.89	$	0.63	$	0.68	$	1.52	$	1.51
Earnings per share – diluted		0.88		0.63		0.68		1.51		1.50
Common stock dividend		0.30		0.29		0.28		0.59		0.55


(1	)		Net interest income is presented on a GAAP basis and fully taxable equivalent (FTE) basis, as the Company believes this non-GAAP measure is the preferred industry measurement for this item. The FTE adjustment is for the tax benefit on certain tax exempt loans using the federal tax rate of 21% for each period presented.

NATIONAL BANK HOLDINGS CORPORATION
Consolidated Statements of Financial Condition (Unaudited)
(Dollars in thousands, except share and per share data)


	June 30, 2025			March 31, 2025			December 31, 2024			June 30, 2024
ASSETS
Cash and cash equivalents	$	296,483		$	246,298		$	127,848		$	144,993
Investment securities available-for-sale		631,947			634,376			527,547			691,076
Investment securities held-to-maturity		717,232			706,912			533,108			554,686
Non-marketable securities		81,124			76,203			76,462			72,987
Loans		7,486,918			7,646,296			7,751,143			7,722,153
Allowance for credit losses		(88,893	)		(90,192	)		(94,455	)		(96,457	)
Loans, net		7,398,025			7,556,104			7,656,688			7,625,696
Loans held for sale		20,784			11,885			24,495			18,787
Other real estate owned		291			615			662			1,526
Premises and equipment, net		209,414			204,567			196,773			177,456
Goodwill		306,043			306,043			306,043			306,043
Intangible assets, net		52,496			54,489			58,432			62,356
Other assets		284,890			301,378			299,635			315,245
Total assets	$	9,998,729		$	10,098,870		$	9,807,693		$	9,970,851
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Non-interest bearing demand deposits	$	2,168,574		$	2,215,313		$	2,213,685		$	2,229,432
Interest bearing demand deposits		1,240,698			1,337,905			1,411,860			1,420,942
Savings and money market		3,785,951			3,812,312			3,592,312			3,703,810
Total transaction deposits		7,195,223			7,365,530			7,217,857			7,354,184
Time deposits		1,074,261			1,058,677			1,020,036			1,022,741
Total deposits		8,269,484			8,424,207			8,237,893			8,376,925
Securities sold under agreements to repurchase		18,513			20,749			18,895			19,465
Long-term debt		54,385			54,588			54,511			54,356
Federal Home Loan Bank advances		185,000			80,000			50,000			35,000
Other liabilities		118,851			190,018			141,319			237,461
Total liabilities		8,646,233			8,769,562			8,502,618			8,723,207
Shareholders’ equity:
Common stock		515			515			515			515
Additional paid in capital		1,167,719			1,168,433			1,167,431			1,161,804
Retained earnings		544,428			521,939			508,864			469,630
Treasury stock		(304,254	)		(301,531	)		(301,694	)		(303,880	)
Accumulated other comprehensive loss, net of tax		(55,912	)		(60,048	)		(70,041	)		(80,425	)
Total shareholders’ equity		1,352,496			1,329,308			1,305,075			1,247,644
Total liabilities and shareholders’ equity	$	9,998,729		$	10,098,870		$	9,807,693		$	9,970,851
SHARE DATA
Average basic shares outstanding		38,075,896			38,068,455			38,327,964			38,210,869
Average diluted shares outstanding		38,151,810			38,229,869			38,565,164			38,372,777
Ending shares outstanding		38,045,622			38,094,105			38,054,482			37,899,453
Common book value per share	$	35.55		$	34.90		$	34.29		$	32.92
Tangible common book value per share⁽¹⁾(non-GAAP)		26.64			25.94			25.28			23.74
CAPITAL RATIOS
Average equity to average assets		13.62	%		13.35	%		13.10	%		12.57	%
Tangible common equity to tangible assets⁽¹⁾		10.49	%		10.13	%		10.16	%		9.35	%
Tier 1 leverage ratio		11.18	%		10.89	%		10.69	%		10.20	%
Common equity tier 1 risk-based capital ratio		14.17	%		13.61	%		13.20	%		12.41	%
Tier 1 risk-based capital ratio		14.17	%		13.61	%		13.20	%		12.41	%
Total risk-based capital ratio		16.07	%		15.49	%		15.11	%		14.32	%

(1

)

Represents a non-GAAP financial measure. See non-GAAP reconciliations below.

NATIONAL BANK HOLDINGS CORPORATION
Loan Portfolio
(Dollars in thousands)

Period End Loan Balances by Type


					June 30, 2025					June 30, 2025
					vs. March 31, 2025					vs. June 30, 2024
	June 30, 2025		March 31, 2025		% Change			June 30, 2024		% Change
Originated:
Commercial:
Commercial and industrial	$	1,829,984	$	1,871,301		(2.2	)%	$	1,906,095		(4.0	)%
Municipal and non-profit		1,125,330		1,116,724		0.8	%		1,063,706		5.8	%
Owner-occupied commercial real estate		1,051,964		1,026,692		2.5	%		921,122		14.2	%
Food and agribusiness		213,254		251,120		(15.1	)%		248,401		(14.1	)%
Total commercial		4,220,532		4,265,837		(1.1	)%		4,139,324		2.0	%
Commercial real estate non-owner occupied		1,118,730		1,136,176		(1.5	)%		1,116,424		0.2	%
Residential real estate		915,213		915,139		0.0	%		923,313		(0.9	)%
Consumer		12,050		11,955		0.8	%		14,385		(16.2	)%
Total originated		6,266,525		6,329,107		(1.0	)%		6,193,446		1.2	%

Acquired:
Commercial:
Commercial and industrial		100,545		105,493		(4.7	)%		124,104		(19.0	)%
Municipal and non-profit		265		271		(2.2	)%		288		(8.0	)%
Owner-occupied commercial real estate		188,745		198,339		(4.8	)%		232,890		(19.0	)%
Food and agribusiness		31,693		33,831		(6.3	)%		48,061		(34.1	)%
Total commercial		321,248		337,934		(4.9	)%		405,343		(20.7	)%
Commercial real estate non-owner occupied		601,890		659,680		(8.8	)%		752,040		(20.0	)%
Residential real estate		296,795		318,510		(6.8	)%		369,003		(19.6	)%
Consumer		460		1,065		(56.8	)%		2,321		(80.2	)%
Total acquired		1,220,393		1,317,189		(7.3	)%		1,528,707		(20.2	)%
Total loans	$	7,486,918	$	7,646,296		(2.1	)%	$	7,722,153		(3.0	)%

Loan Fundings⁽¹⁾


	Second quarter		First quarter		Fourth quarter		Third quarter		Second quarter
	2025		2025		2024		2024		2024
Commercial:
Commercial and industrial	$	133,402	$	108,594	$	146,600	$	93,711	$	241,910
Municipal and non-profit		34,393		12,506		49,175		35,677		28,785
Owner occupied commercial real estate		47,233		37,762		117,850		70,517		102,615
Food and agribusiness		4,576		1,338		15,796		19,205		11,040
Total commercial		219,604		160,200		329,421		219,110		384,350
Commercial real estate non-owner occupied		56,770		65,254		119,132		91,809		83,184
Residential real estate		44,470		29,300		30,750		47,322		36,124
Consumer		1,823		970		726		1,010		1,547
Total	$	322,667	$	255,724	$	480,029	$	359,251	$	505,205

(1

)

Loan fundings are defined as closed end funded loans and net fundings under revolving lines of credit. Net fundings under revolving lines of credit were $15,490, $21,752, $64,375, $16,302 and $19,281 for the periods noted in the table above, respectively.

NATIONAL BANK HOLDINGS CORPORATION
Summary of Net Interest Margin
(Dollars in thousands)


	For the three months ended								For the three months ended								For the three months ended
	June 30, 2025								March 31, 2025								June 30, 2024
	Average					Average			Average					Average			Average					Average
	balance			Interest		rate			balance			Interest		rate			balance			Interest		rate
Interest earning assets:
Originated loans FTE⁽¹⁾⁽²⁾	$	6,289,154		$	102,399		6.53	%	$	6,335,931		$	102,221		6.54	%	$	6,074,199		$	101,794		6.74	%
Acquired loans		1,262,933			19,397		6.16	%		1,351,726			19,547		5.86	%		1,541,576			23,464		6.12	%
Loans held for sale		21,115			354		6.72	%		19,756			349		7.16	%		16,862			318		7.59	%
Investment securities available-for-sale		701,920			4,661		2.66	%		716,938			4,617		2.58	%		802,830			5,101		2.54	%
Investment securities held-to-maturity		713,178			5,173		2.90	%		635,961			4,120		2.59	%		564,818			2,419		1.71	%
Other securities		30,560			466		6.10	%		31,386			480		6.12	%		25,093			377		6.01	%
Interest earning deposits		57,634			682		4.75	%		48,206			539		4.53	%		92,388			685		2.98	%
Total interest earning assets FTE⁽²⁾	$	9,076,494		$	133,132		5.88	%	$	9,139,904		$	131,873		5.85	%	$	9,117,766		$	134,158		5.92	%
Cash and due from banks	$	79,131							$	77,237							$	100,165
Other assets		807,802								794,374								771,475
Allowance for credit losses		(90,292	)							(95,492	)							(97,741	)
Total assets	$	9,873,135							$	9,916,023							$	9,891,665
Interest bearing liabilities:
Interest bearing demand, savings and money market deposits	$	4,986,119		$	32,758		2.64	%	$	5,027,052		$	32,511		2.62	%	$	5,109,924		$	39,681		3.12	%
Time deposits		1,062,481			9,087		3.43	%		1,035,983			8,756		3.43	%		1,015,371			8,536		3.38	%
Federal Home Loan Bank advances		93,676			1,170		5.01	%		107,151			1,105		4.18	%		9,505			133		5.63	%
Other borrowings⁽³⁾		41,300			278		2.70	%		50,277			382		3.08	%		17,449			5		0.12	%
Long-term debt		54,574			518		3.81	%		54,539			518		3.85	%		54,307			518		3.84	%
Total interest bearing liabilities	$	6,238,150		$	43,811		2.82	%	$	6,275,002		$	43,272		2.80	%	$	6,206,556		$	48,873		3.17	%
Demand deposits	$	2,152,899							$	2,197,300							$	2,254,454
Other liabilities		137,319								119,806								187,499
Total liabilities		8,528,368								8,592,108								8,648,509
Shareholders’ equity		1,344,767								1,323,915								1,243,156
Total liabilities and shareholders’ equity	$	9,873,135							$	9,916,023							$	9,891,665
Net interest income FTE⁽²⁾				$	89,321							$	88,601							$	85,285
Interest rate spread FTE⁽²⁾							3.06	%							3.05	%							2.75	%
Net interest earning assets	$	2,838,344							$	2,864,902							$	2,911,210
Net interest margin FTE⁽²⁾							3.95	%							3.93	%							3.76	%
Average transaction deposits	$	7,139,018							$	7,224,352							$	7,364,378
Average total deposits		8,201,499								8,260,335								8,379,749
Ratio of average interest earning assets to average interest bearing liabilities		145.50	%							145.66	%							146.91	%

(1	)	Originated loans are net of deferred loan fees, less costs, which are included in interest income over the life of the loan.
(2	)	Presented on a fully taxable equivalent basis using the statutory tax rate of 21%. The tax equivalent adjustments included above are $1,912, $1,910 and $1,711 for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(3	)	Other borrowings includes securities sold under agreements to repurchase and cash collateral received from counterparties in connection with derivative swap agreements.

NATIONAL BANK HOLDINGS CORPORATION
Summary of Net Interest Margin
(Dollars in thousands)


	For the six months ended June 30, 2025								For the six months ended June 30, 2024
	Average					Average			Average					Average
	balance			Interest		rate			balance			Interest		rate
Interest earning assets:
Originated loans FTE⁽¹⁾⁽²⁾	$	6,312,413		$	204,620		6.54	%	$	6,060,524		$	202,708		6.73	%
Acquired loans		1,307,084			38,944		6.01	%		1,576,548			47,753		6.09	%
Loans held for sale		20,439			703		6.94	%		14,440			543		7.56	%
Investment securities available-for-sale		709,387			9,278		2.62	%		776,999			9,204		2.37	%
Investment securities held-to-maturity		674,783			9,293		2.75	%		571,989			4,933		1.72	%
Other securities		30,971			946		6.11	%		30,065			993		6.61	%
Interest earning deposits		52,946			1,221		4.65	%		91,983			1,448		3.17	%
Total interest earning assets FTE⁽²⁾	$	9,108,023		$	265,005		5.87	%	$	9,122,548		$	267,582		5.90	%
Cash and due from banks	$	78,189							$	101,374
Other assets		801,127								763,853
Allowance for credit losses		(92,878	)							(97,812	)
Total assets	$	9,894,461							$	9,889,963
Interest bearing liabilities:
Interest bearing demand, savings and money market deposits	$	5,006,472		$	65,269		2.63	%	$	5,028,868		$	76,094		3.04	%
Time deposits		1,049,305			17,843		3.43	%		1,002,706			16,120		3.23	%
Federal Home Loan Bank advances		100,376			2,275		4.57	%		118,871			3,314		5.61	%
Other borrowings⁽³⁾		45,764			660		2.91	%		18,189			11		0.12	%
Long-term debt		54,557			1,036		3.83	%		54,268			1,036		3.84	%
Total interest bearing liabilities	$	6,256,474		$	87,083		2.81	%	$	6,222,902		$	96,575		3.12	%
Demand deposits	$	2,174,977							$	2,267,725
Other liabilities		128,611								164,617
Total liabilities		8,560,062								8,655,244
Shareholders’ equity		1,334,399								1,234,719
Total liabilities and shareholders’ equity	$	9,894,461							$	9,889,963
Net interest income FTE⁽²⁾				$	177,922							$	171,007
Interest rate spread FTE⁽²⁾							3.06	%							2.78	%
Net interest earning assets	$	2,851,549							$	2,899,646
Net interest margin FTE⁽²⁾							3.94	%							3.77	%
Average transaction deposits	$	7,181,449							$	7,296,593
Average total deposits		8,230,754								8,299,299
Ratio of average interest earning assets to average interest bearing liabilities		145.58	%							146.60	%

(1	)	Originated loans are net of deferred loan fees, less costs, which are included in interest income over the life of the loan.
(2	)	Presented on a fully taxable equivalent basis using the statutory tax rate of 21%. The tax equivalent adjustments included above are $3,822 and $3,403 for the six months ended June 30, 2025 and June 30, 2024, respectively.
(3	)	Other borrowings includes securities sold under agreements to repurchase and cash collateral received from counterparties in connection with derivative swap agreements.

NATIONAL BANK HOLDINGS CORPORATION
Allowance for Credit Losses and Asset Quality
(Dollars in thousands)

Allowance for Credit Losses Analysis


	As of and for the three months ended
	June 30, 2025			March 31, 2025			June 30, 2024
Beginning allowance for credit losses	$	90,192		$	94,455		$	97,607
Charge-offs		(1,158	)		(15,251	)		(4,605	)
Recoveries		170			138			499
Provision (release) expense for credit losses		(311	)		10,850			2,956
Ending allowance for credit losses (“ACL”)	$	88,893		$	90,192		$	96,457
Ratio of annualized net charge-offs to average total loans during the period		0.05	%		0.80	%		0.22	%
Ratio of ACL to total loans outstanding at period end		1.19	%		1.18	%		1.25	%
Ratio of ACL to total non-performing loans at period end		266.66	%		260.52	%		370.18	%
Total loans	$	7,486,918		$	7,646,296		$	7,722,153
Average total loans during the period		7,530,783			7,660,974			7,582,506
Total non-performing loans		33,336			34,620			26,057

Past Due and Non-accrual Loans


	June 30, 2025			March 31, 2025			June 30, 2024
Loans 30-89 days past due and still accruing interest	$	13,923		$	17,003		$	27,159
Loans 90 days past due and still accruing interest		7,315			1,012			3,498
Non-accrual loans		33,336			34,620			26,057
Total past due and non-accrual loans	$	54,574		$	52,635		$	56,714
Total 90 days past due and still accruing interest and non-accrual loans to total loans		0.54	%		0.47	%		0.38	%

Asset Quality Data


	June 30, 2025			March 31, 2025			June 30, 2024
Non-performing loans	$	33,336		$	34,620		$	26,057
OREO		291			615			1,526
Total non-performing assets	$	33,627		$	35,235		$	27,583
Total non-performing loans to total loans		0.45	%		0.45	%		0.34	%
Total non-performing assets to total loans and OREO		0.45	%		0.46	%		0.36	%

NATIONAL BANK HOLDINGS CORPORATION
Key Metrics⁽¹⁾


	As of and for the three months ended									As of and for the six months ended
	June 30,			March 31,			June 30,			June 30,			June 30,
	2025			2025			2024			2025			2024
Return on average assets		1.38	%		0.99	%		1.06	%		1.19	%		1.17	%
Return on average tangible assets⁽²⁾		1.49	%		1.09	%		1.17	%		1.29	%		1.28	%
Return on average equity		10.15	%		7.42	%		8.46	%		8.80	%		9.37	%
Return on average tangible common equity⁽²⁾		14.18	%		10.64	%		12.44	%		12.44	%		13.77	%
Loan to deposit ratio (end of period)		90.54	%		90.77	%		92.18	%		90.54	%		92.18	%
Non-interest bearing deposits to total deposits (end of period)		26.22	%		26.30	%		26.61	%		26.22	%		26.61	%
Net interest margin⁽³⁾		3.86	%		3.85	%		3.69	%		3.85	%		3.69	%
Net interest margin FTE⁽²⁾⁽³⁾		3.95	%		3.93	%		3.76	%		3.94	%		3.77	%
Interest rate spread FTE⁽²⁾⁽⁴⁾		3.06	%		3.05	%		2.75	%		3.06	%		2.78	%
Yield on earning assets⁽⁵⁾		5.80	%		5.77	%		5.84	%		5.78	%		5.82	%
Yield on earning assets FTE⁽²⁾⁽⁵⁾		5.88	%		5.85	%		5.92	%		5.87	%		5.90	%
Cost of funds		2.09	%		2.07	%		2.32	%		2.08	%		2.29	%
Cost of deposits		2.05	%		2.03	%		2.31	%		2.04	%		2.23	%
Non-interest income to total revenue FTE⁽⁶⁾		16.04	%		14.79	%		14.13	%		15.42	%		15.65	%
Efficiency ratio		60.24	%		60.76	%		64.62	%		60.50	%		63.17	%
Efficiency ratio excluding other intangible assets amortization FTE⁽²⁾		57.32	%		57.74	%		61.52	%		57.53	%		60.14	%
Pre-provision net revenue	$	41,544		$	40,050		$	34,528		$	81,594		$	73,418
Pre-provision net revenue FTE⁽²⁾		43,456			41,960			36,239			85,416			76,821

Total Loans Asset Quality Data⁽⁷⁾⁽⁸⁾
Non-performing loans to total loans		0.45	%		0.45	%		0.34	%		0.45	%		0.34	%
Non-performing assets to total loans and OREO		0.45	%		0.46	%		0.36	%		0.45	%		0.36	%
Allowance for credit losses to total loans		1.19	%		1.18	%		1.25	%		1.19	%		1.25	%
Allowance for credit losses to non-performing loans		266.66	%		260.52	%		370.18	%		266.66	%		370.18	%
Net charge-offs to average loans		0.05	%		0.80	%		0.22	%		0.43	%		0.11	%

(1	)	Ratios are annualized.
(2	)	Ratio represents non-GAAP financial measure. See non-GAAP reconciliations below.
(3	)	Net interest margin represents net interest income, including accretion income on interest earning assets, as a percentage of average interest earning assets.
(4	)	Interest rate spread represents the difference between the weighted average yield on interest earning assets, including FTE income, and the weighted average cost of interest bearing liabilities. Ratio represents a non-GAAP financial measure.
(5	)	Interest earning assets include assets that earn interest/accretion or dividends. Any market value adjustments on investment securities or loans are excluded from interest earning assets.
(6	)	Non-interest income to total revenue represents non-interest income divided by the sum of net interest income FTE and non-interest income. Ratio represents a non-GAAP financial measure.
(7	)	Non-performing loans consist of non-accruing loans and modified loans on non-accrual.
(8	)	Total loans are net of unearned discounts and fees.

NATIONAL BANK HOLDINGS CORPORATION
NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS
(Dollars in thousands, except share and per share data)

Tangible Common Book Value Ratios


	June 30, 2025			March 31, 2025			December 31, 2024			June 30, 2024
Total shareholders’ equity	$	1,352,496		$	1,329,308		$	1,305,075		$	1,247,644
Less: goodwill and other intangible assets, net		(352,854	)		(354,800	)		(356,777	)		(360,732	)
Add: deferred tax liability related to goodwill		13,741			13,638			13,535			12,871
Tangible common equity (non-GAAP)	$	1,013,383		$	988,146		$	961,833		$	899,783

Total assets	$	9,998,729		$	10,098,870		$	9,807,693		$	9,970,851
Less: goodwill and other intangible assets, net		(352,854	)		(354,800	)		(356,777	)		(360,732	)
Add: deferred tax liability related to goodwill		13,741			13,638			13,535			12,871
Tangible assets (non-GAAP)	$	9,659,616		$	9,757,708		$	9,464,451		$	9,622,990

Tangible common equity to tangible assets calculations:
Total shareholders’ equity to total assets		13.53	%		13.16	%		13.31	%		12.51	%
Less: impact of goodwill and other intangible assets, net		(3.04	)%		(3.03	)%		(3.15	)%		(3.16	)%
Tangible common equity to tangible assets (non-GAAP)		10.49	%		10.13	%		10.16	%		9.35	%

Tangible common book value per share calculations:
Tangible common equity (non-GAAP)	$	1,013,383		$	988,146		$	961,833		$	899,783
Divided by: ending shares outstanding		38,045,622			38,094,105			38,054,482			37,899,453
Tangible common book value per share (non-GAAP)	$	26.64		$	25.94		$	25.28		$	23.74

NATIONAL BANK HOLDINGS CORPORATION
(Dollars in thousands, except share and per share data)
Return on Average Tangible Assets and Return on Average Tangible Equity


	As of and for the three months ended									As of and for the six months ended
	June 30,			March 31,			June 30,			June 30,			June 30,
	2025			2025			2024			2025			2024
Net income	$	34,022		$	24,231		$	26,135		$	58,253		$	57,526
Add: impact of other intangible assets amortization expense, after tax		1,492			1,516			1,516			3,006			3,055
Net income excluding the impact of other intangible assets amortization expense, after tax (non-GAAP)	$	35,514		$	25,747		$	27,651		$	61,259		$	60,581

Average assets	$	9,873,135		$	9,916,023		$	9,891,665		$	9,894,461		$	9,889,963
Less: average goodwill and other intangible assets, net of deferred tax liability related to goodwill		(340,330	)		(342,425	)		(349,030	)		(341,320	)		(350,040	)
Average tangible assets (non-GAAP)	$	9,532,805		$	9,573,598		$	9,542,635		$	9,553,141		$	9,539,923

Average shareholders’ equity	$	1,344,767		$	1,323,915		$	1,243,156		$	1,334,399		$	1,234,719
Less: average goodwill and other intangible assets, net of deferred tax liability related to goodwill		(340,330	)		(342,425	)		(349,030	)		(341,320	)		(350,040	)
Average tangible common equity (non-GAAP)	$	1,004,437		$	981,490		$	894,126		$	993,079		$	884,679

Return on average assets		1.38	%		0.99	%		1.06	%		1.19	%		1.17	%
Return on average tangible assets (non-GAAP)		1.49	%		1.09	%		1.17	%		1.29	%		1.28	%
Return on average equity		10.15	%		7.42	%		8.46	%		8.80	%		9.37	%
Return on average tangible common equity (non-GAAP)		14.18	%		10.64	%		12.44	%		12.44	%		13.77	%

Fully Taxable Equivalent Yield on Earning Assets and Net Interest Margin


	As of and for the three months ended									As of and for the six months ended
	June 30,			March 31,			June 30,			June 30,			June 30,
	2025			2025			2024			2025			2024
Interest income	$	131,220		$	129,963		$	132,447		$	261,183		$	264,179
Add: impact of taxable equivalent adjustment		1,912			1,910			1,711			3,822			3,403
Interest income FTE (non-GAAP)	$	133,132		$	131,873		$	134,158		$	265,005		$	267,582

Net interest income	$	87,409		$	86,691		$	83,574		$	174,100		$	167,604
Add: impact of taxable equivalent adjustment		1,912			1,910			1,711			3,822			3,403
Net interest income FTE (non-GAAP)	$	89,321		$	88,601		$	85,285		$	177,922		$	171,007

Average earning assets	$	9,076,494		$	9,139,904		$	9,117,766		$	9,108,023		$	9,122,548
Yield on earning assets		5.80	%		5.77	%		5.84	%		5.78	%		5.82	%
Yield on earning assets FTE (non-GAAP)		5.88	%		5.85	%		5.92	%		5.87	%		5.90	%
Net interest margin		3.86	%		3.85	%		3.69	%		3.85	%		3.69	%
Net interest margin FTE (non-GAAP)		3.95	%		3.93	%		3.76	%		3.94	%		3.77	%

Efficiency Ratio and Pre-Provision Net Revenue


	As of and for the three months ended									As of and for the six months ended
	June 30,			March 31,			June 30,			June 30,			June 30,
	2025			2025			2024			2025			2024
Net interest income	$	87,409		$	86,691		$	83,574		$	174,100		$	167,604
Add: impact of taxable equivalent adjustment		1,912			1,910			1,711			3,822			3,403
Net interest income FTE (non-GAAP)	$	89,321		$	88,601		$	85,285		$	177,922		$	171,007

Non-interest income	$	17,066		$	15,376		$	14,029		$	32,442		$	31,723

Non-interest expense	$	62,931		$	62,017		$	63,075		$	124,948		$	125,909
Less: other intangible assets amortization		(1,947	)		(1,977	)		(1,977	)		(3,924	)		(3,985	)
Non-interest expense excluding other intangible assets amortization (non-GAAP)	$	60,984		$	60,040		$	61,098		$	121,024		$	121,924

Efficiency ratio		60.24	%		60.76	%		64.62	%		60.50	%		63.17	%
Efficiency ratio excluding other intangible assets amortization FTE (non-GAAP)		57.32	%		57.74	%		61.52	%		57.53	%		60.14	%
Pre-provision net revenue (non-GAAP)	$	41,544		$	40,050		$	34,528		$	81,594		$	73,418
Pre-provision net revenue, FTE (non-GAAP)		43,456			41,960			36,239			85,416			76,821

MIL-OSI: BlackLine Announces Date for Second Quarter 2025 Earnings Release and Conference Call

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, July 22, 2025 (GLOBE NEWSWIRE) — BlackLine, Inc. (Nasdaq: BL) announced today that it will release financial results for the second quarter ended June 30, 2025 after market close on Tuesday, August 5, 2025 followed by a conference call hosted by management at 2:00 p.m. PT / 5:00 p.m. ET. A live webcast and replay will be accessible on BlackLine’s investor relations website at https://investors.blackline.com/. To access the conference call by phone, please register here, and dial-in details will be provided. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

About BlackLine

BlackLine (Nasdaq: BL), the future-ready platform for the Office of the CFO, drives digital finance transformation by empowering organizations with accurate, efficient, and intelligent financial operations.

BlackLine’s comprehensive platform addresses mission-critical processes, including record-to-report and invoice-to-cash, enabling unified and accurate data, streamlined and optimized processes, and real-time insight through visibility, automation, and AI. BlackLine’s proven, collaborative approach ensures continuous transformation, delivering immediate impact and sustained value. With a proven track record of innovation, industry-leading R&D investment, and world-class security practices, more than 4,400 customers across multiple industries partner with BlackLine to lead their organizations into the future.

For more information, please visit blackline.com.

Investor Relations Contact:
Matt Humphries, CFA
matt.humphries@blackline.com

MIL-OSI: Range Announces Second Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

FORT WORTH, Texas, July 22, 2025 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its second quarter 2025 financial results.

Second Quarter 2025 Highlights –

Cash flow from operating activities of $336 million
Cash flow from operations, before working capital changes, of $301 million
Repurchased $53 million of shares, paid $21 million in dividends, and reduced net debt to $1.2 billion
Capital spending was $154 million, approximately 23% of the annual 2025 budget
Realized price, including hedges, was $3.49 per mcfe
Natural gas differential, including basis hedging, of ($0.50) per mcf to NYMEX
Pre-hedge NGL realizations of $23.73 per barrel – a premium of $0.61 over Mont Belvieu equivalent
Production averaged 2.20 Bcfe per day, approximately 68% natural gas
Improved 2025 production guidance and increased expected lateral footage in year-end inventory, while lowering 2025 capital due to operational efficiencies.

Commenting on the results, Dennis Degner, the Company’s CEO said, “This year is off to a great start with another quarter of efficiency gains and consistent well performance driving strong free cash flow and building operational momentum. Our strong financial results supported $74 million in share repurchases and dividends, while lowering net debt to $1.2 billion. We believe Range is well positioned to benefit as in-basin demand opportunities materialize alongside a global call on natural gas. Range is one of the few producers in Appalachia with sufficient high-quality inventory to support the required growth in baseload supply. Further, Range’s continued efficiencies are supported by our countercyclical investments in drilled inventory over the last 18 months and consistent well results. Importantly, we intend to help meet future demand increases while also returning significant capital to shareholders.”

Financial Discussion

Except for generally accepted accounting principles (“GAAP”) reported amounts, specific expense categories exclude non-cash impairments, unrealized mark-to-market adjustment on derivatives, non-cash stock compensation and other items shown separately on the attached tables. “Unit costs” as used in this release are composed of direct operating, transportation, gathering, processing and compression, taxes other than income, general and administrative, interest and depletion, depreciation and amortization costs divided by production. See “Non-GAAP Financial Measures” for a definition of non-GAAP financial measures and the accompanying tables that reconcile each non-GAAP measure to its most directly comparable GAAP financial measure.

Second Quarter 2025 Results

GAAP revenues and other income for second quarter 2025 totaled $856 million, GAAP net cash provided from operating activities (including changes in working capital) was $336 million, and GAAP net income was $238 million ($0.99 per diluted share). Second quarter earnings results include a $155 million mark-to-market derivative gain due to decreases in commodity prices.

Cash flow from operations before changes in working capital, a non-GAAP measure, was $301 million. Adjusted net income comparable to analysts’ estimates, a non-GAAP measure, was $158 million ($0.66 per diluted share) in second quarter 2025.

The following table details Range’s second quarter 2025 unit costs per mcfe^(a):

Expenses	2Q 2025 (per mcfe)		2Q 2024 (per mcfe)		Increase (Decrease)

Direct operating^(a)	$	0.11	$	0.11	0	%
Transportation, gathering, processing and compression^(a)		1.52		1.44	6	%
Taxes other than income		0.04		0.03	33	%
General and administrative^(a)		0.16		0.16	0	%
Interest expense^(a)		0.13		0.14	(7	%)
Total cash unit costs^(b)		1.97		1.88	5	%
Depletion, depreciation and amortization (DD&A)		0.46		0.45	2	%
Total unit costs plus DD&A^(b)	$	2.43	$	2.33	4	%

(a) Excludes stock-based compensation, one-time settlements, and amortization of deferred financing costs.
(b) Totals may not be exact due to rounding.

The following table details Range’s average production and realized pricing for second quarter 2025^(a):

	2Q25 Production & Realized Pricing
		Natural Gas (mcf)			Oil (bbl)			NGLs (bbl)		Natural Gas Equivalent (mcfe)
		Natural Gas (mcf)			Oil (bbl)			NGLs (bbl)		Natural Gas Equivalent (mcfe)

Net production per day			1,497,771			6,382			110,209		2,197,321

Average NYMEX price		$	3.44		$	63.72		$	23.12
Differential, including basis hedging			(0.50	)		(10.95	)		0.61
Realized prices before NYMEX hedges			2.94			52.77			23.73		3.35
Settled NYMEX hedges			0.19			1.45			0.15		0.14
Average realized prices after hedges		$	3.13		$	54.22		$	23.88	$	3.49

(a) Totals may not be exact due to rounding

Second quarter 2025 natural gas, NGLs and oil price realizations (including the impact of cash-settled hedges and derivative settlements) averaged $3.49 per mcfe.

The average natural gas price, including the impact of basis hedging, was $2.94 per mcf, or a ($0.50) per mcf differential to NYMEX. Range continues to expect its 2025 natural gas differential to average ($0.40) to ($0.48) relative to NYMEX.
Range’s pre-hedge NGL price during the quarter was $23.73 per barrel, approximately $0.61 above the Mont Belvieu weighted equivalent. Range is improving its expected 2025 NGL differential to average +$0.40 to +$1.25 relative to a Mont Belvieu equivalent barrel.
Crude oil and condensate price realizations, before realized hedges, averaged $52.77 per barrel, or $10.95 below WTI (West Texas Intermediate). Range continues to expect its 2025 condensate differential to average ($10.00) to ($15.00) relative to NYMEX.

Repurchase Activity and Financial Position

During the second quarter, Range repurchased 1,453,438 shares at an average price of approximately $36.35 per share. As of June 30, 2025, the Company had approximately $900 million of availability under the share repurchase program.

In May 2025, Range paid off the remaining principal balance of its 4.875% senior notes due 2025 at par by utilizing cash on hand and by borrowing on the bank credit facility. As of June 30, 2025, Range had net debt outstanding of approximately $1.22 billion, consisting of $1.1 billion of senior notes, $125 million on the facility, and $0.1 million in cash.

Capital Expenditures and Operational Activity

Second quarter 2025 drilling and completion expenditures were $136 million. In addition, during the quarter, approximately $11 million was invested in acreage, and $7 million was invested in infrastructure, pneumatic devices, and other investments. Year-to-date capital investments of $301 million are approximately $10 million below plan as a result of operational efficiencies. As a result, Range is lowering the high-end of its 2025 capital guide to $680 million.

During the quarter, Range drilled ~285,000 lateral feet across 20 wells, while turning to sales ~156,000 lateral feet across 12 wells. The added inventory of drilled but not completed laterals places Range on track to exit 2025 with greater than 400,000 lateral feet of growth inventory to support future development.

The table below summarizes expected 2025 activity plans regarding the number of wells to sales in each area.

	Wells TIL 1H 2025	Remaining 2025	2025 Planned TIL
SW PA Super-Rich	5	3	8
SW PA Wet	17	12	29
SW PA Dry	0	5	5
NE PA Dry	0	4	4
Total Wells	22	24	46

Guidance – 2025

Updated Capital & Production Guidance

Range’s 2025 all-in capital budget is now $650 million – $680 million, improved from prior guidance of $650 million – $690 million. Annual production is now expected to be approximately 2.225 Bcfe per day in 2025, updated from prior guidance of ~2.2 Bcfe per day. Liquids are expected to be over 30% of production.

Updated Full Year 2025 Expense Guidance

	Updated Guidance	Prior Guidance
Direct operating expense:	$0.12 – $0.13 per mcfe	$0.12 – $0.14 per mcfe
Transportation, gathering, processing and compression expense:	$1.50 – $1.55 per mcfe	$1.50 – $1.55 per mcfe
Taxes other than income:	$0.03 – $0.04 per mcfe	$0.03 – $0.04 per mcfe
Exploration expense:	$24 – $28 million	$24 – $28 million
G&A expense:	$0.17 – $0.18 per mcfe	$0.17 – $0.19 per mcfe
Net Interest expense:	$0.12 – $0.13 per mcfe	$0.12 – $0.13 per mcfe
DD&A expense:	$0.45 – $0.46 per mcfe	$0.45 – $0.46 per mcfe
Net brokered gas marketing expense:	$8 – $12 million	$8 – $12 million

Updated Full Year 2025 Price Guidance

Based on recent market indications, Range expects to average the following price differentials for its production in 2025.

	Updated Guidance	Prior Guidance
FY 2025 Natural Gas:⁽¹⁾	NYMEX minus $0.40 to $0.48	NYMEX minus $0.40 to $0.48
FY 2025 Natural Gas Liquids:⁽²⁾	MB plus $0.40 to $1.25 per barrel	MB plus $0.25 to $1.25 per barrel
FY 2025 Oil/Condensate:	WTI minus $10.00 to $15.00	WTI minus $10.00 to $15.00

(1) Including basis hedging
(2) Mont Belvieu-equivalent pricing based on weighting of 53% ethane, 27% propane, 8% normal butane, 4% iso-butane and 8% natural gasoline.

Hedging Status

Range hedges portions of its expected future production volumes to increase the predictability of cash flow and maintain a strong, flexible financial position. Please see the detailed hedging schedule posted on the Range website under Investor Relations – Financial Information.

Range has also hedged basis across the Company’s numerous natural gas sales points to limit volatility between benchmark and regional prices. The combined fair value of natural gas basis hedges as of June 30, 2025, was a net gain of $19.9 million.

Conference Call Information

A conference call to review the financial results is scheduled on Wednesday, July 23 at 8:00 AM Central Time (9:00 AM Eastern Time). Please click here to pre-register for the conference call and obtain a dial in number with passcode.

A simultaneous webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company’s website until August 23^rd.

Non-GAAP Financial Measures

To supplement the presentation of its financial results prepared in accordance with generally accepted accounting principles (GAAP), the Company’s earnings press release contains certain financial measures that are not presented in accordance with GAAP. Management believes certain non-GAAP measures may provide financial statement users with meaningful supplemental information for comparisons within the industry. These non-GAAP financial measures may include, but are not limited to Net Income, excluding certain items, Cash flow from operations before changes in working capital, realized prices, Net debt and Cash margin.

Adjusted net income comparable to analysts’ estimates as set forth in this release represents income or loss from operations before income taxes adjusted for certain non-cash items (detailed in the accompanying table) less income taxes. We believe adjusted net income comparable to analysts’ estimates is calculated on the same basis as analysts’ estimates and that many investors use this published research in making investment decisions and evaluating operational trends of the Company and its performance relative to other oil and gas producing companies. Diluted earnings per share (adjusted) as set forth in this release represents adjusted net income comparable to analysts’ estimates on a diluted per share basis. A table is included which reconciles income or loss from operations to adjusted net income comparable to analysts’ estimates and diluted earnings per share (adjusted). On its website, the Company provides additional comparative information on prior periods.

Cash flow from operations before changes in working capital represents net cash provided by operations before changes in working capital and exploration expense adjusted for certain non-cash compensation items. Cash flow from operations before changes in working capital (sometimes referred to as “adjusted cash flow”) is widely accepted by the investment community as a financial indicator of an oil and gas company’s ability to generate cash to internally fund exploration and development activities and to service debt. Cash flow from operations before changes in working capital is also useful because it is widely used by professional research analysts in valuing, comparing, rating and providing investment recommendations of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Cash flow from operations before changes in working capital is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operations, investing, or financing activities as an indicator of cash flows, or as a measure of liquidity. A table is included which reconciles net cash provided by operations to cash flow from operations before changes in working capital as used in this release. On its website, the Company provides additional comparative information on prior periods for cash flow, cash margins and non-GAAP earnings as used in this release.

The cash prices realized for oil and natural gas production, including the amounts realized on cash-settled derivatives and net of transportation, gathering, processing and compression expense, is a critical component in the Company’s performance tracked by investors and professional research analysts in valuing, comparing, rating and providing investment recommendations and forecasts of companies in the oil and gas exploration and production industry. In turn, many investors use this published research in making investment decisions. Due to the GAAP disclosures of various derivative transactions and third-party transportation, gathering, processing and compression expense, such information is now reported in various lines of the income statement. The Company believes that it is important to furnish a table reflecting the details of the various components of each income statement line to better inform the reader of the details of each amount and provide a summary of the realized cash-settled amounts and third-party transportation, gathering, processing and compression expense, which were historically reported as natural gas, NGLs and oil sales. This information is intended to bridge the gap between various readers’ understanding and fully disclose the information needed.

Net debt is calculated as total debt less cash and cash equivalents. The Company believes this measure is helpful to investors and industry analysts who utilize Net debt for comparative purposes across the industry.

The Company discloses in this release the detailed components of many of the single line items shown in the GAAP financial statements included in the Company’s Annual or Quarterly Reports on Form 10-K or 10-Q. The Company believes that it is important to furnish this detail of the various components comprising each line of the Statements of Operations to better inform the reader of the details of each amount, the changes between periods and the effect on its financial results.

We believe that the presentation of PV₁₀ value of our proved reserves is a relevant and useful metric for our investors as supplemental disclosure to the standardized measure, or after-tax amount, because it presents the discounted future net cash flows attributable to our proved reserves before taking into account future corporate income taxes and our current tax structure. While the standardized measure is dependent on the unique tax situation of each company, PV₁₀ is based on prices and discount factors that are consistent for all companies. Because of this, PV₁₀ can be used within the industry and by credit and security analysts to evaluate estimated net cash flows from proved reserves on a more comparable basis.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

Included within this release are certain “forward-looking statements” within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are not limited to historical facts, but reflect Range’s current beliefs, expectations or intentions regarding future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “outlook”, “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements.

All statements, except for statements of historical fact, made within regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, expected asset sales, well productivity, future liquidity and financial resilience, anticipated exports and related financial impact, NGL market supply and demand, future commodity fundamentals and pricing, future capital efficiencies, future shareholder value, emerging plays, capital spending, anticipated drilling and completion activity, acreage prospectivity, expected pipeline utilization and future guidance information, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management’s assumptions and Range’s future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range’s filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K. Unless required by law, Range undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made.

The SEC permits oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are estimates that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions as well as the option to disclose probable and possible reserves. Range has elected not to disclose its probable and possible reserves in its filings with the SEC. Range uses certain broader terms such as “resource potential,” “unrisked resource potential,” “unproved resource potential” or “upside” or other descriptions of volumes of resources potentially recoverable through additional drilling or recovery techniques that may include probable and possible reserves as defined by the SEC’s guidelines. Range has not attempted to distinguish probable and possible reserves from these broader classifications. The SEC’s rules prohibit us from including in filings with the SEC these broader classifications of reserves. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of actually being realized. Unproved resource potential refers to Range’s internal estimates of hydrocarbon quantities that may be potentially discovered through exploratory drilling or recovered with additional drilling or recovery techniques and have not been reviewed by independent engineers. Unproved resource potential does not constitute reserves within the meaning of the Society of Petroleum Engineer’s Petroleum Resource Management System and does not include proved reserves. Area wide unproven resource potential has not been fully risked by Range’s management. “EUR”, or estimated ultimate recovery, refers to our management’s estimates of hydrocarbon quantities that may be recovered from a well completed as a producer in the area. These quantities may not necessarily constitute or represent reserves within the meaning of the Society of Petroleum Engineer’s Petroleum Resource Management System or the SEC’s oil and natural gas disclosure rules. Actual quantities that may be recovered from Range’s interests could differ substantially. Factors affecting ultimate recovery include the scope of Range’s drilling program, which will be directly affected by the availability of capital, drilling and production costs, commodity prices, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals, field spacing rules, recoveries of gas in place, length of horizontal laterals, actual drilling results, including geological and mechanical factors affecting recovery rates and other factors. Estimates of resource potential may change significantly as development of our resource plays provides additional data.

In addition, our production forecasts and expectations for future periods are dependent upon many assumptions, including estimates of production decline rates from existing wells and the undertaking and outcome of future drilling activity, which may be affected by significant commodity price or drilling cost changes. Investors are urged to consider closely the disclosure in our most recent Annual Report on Form 10-K, available from our website at www.rangeresources.com or by written request to 100 Throckmorton Street, Suite 1200, Fort Worth, Texas 76102. You can also obtain this Form 10-K on the SEC’s website at www.sec.gov or by calling the SEC at 1-800-SEC-0330.

SOURCE: Range Resources Corporation

Range Investor Contacts:

Laith Sando
817-869-4267

Matt Schmid
817-869-1538

Range Media Contact:

Mark Windle
724-873-3223

RANGE RESOURCES CORPORATION


STATEMENTS OF OPERATIONS
Based on GAAP reported earnings with additional
details of items included in each line in Form 10-Q
(Unaudited, In thousands, except per share data)
	Three Months Ended June 30,									Six Months Ended June 30,
	2025			2024			%			2025			2024			%
Revenues and other income:
Natural gas, NGLs and oil sales (a)	$	666,638		$	478,450					$	1,458,558		$	1,045,451
Derivative fair value income (loss)		154,747			16,808						(4,210	)		63,406
Brokered natural gas and marketing		33,009			31,393						87,417			60,224
ARO settlement gain (loss) (b)		1			–						1			(26	)
Interest income (b)		1,762			3,376						4,815			6,319
Gain on sale of assets (b)		102			66						164			153
Other (b)		16			16						84			38
Total revenues and other income		856,275			530,109			62	%		1,546,829			1,175,565			32	%

Costs and expenses:
Direct operating		22,616			22,281						47,452			43,945
Direct operating – stock-based compensation (c)		504			471						1,041			968
Transportation, gathering, processing and compression		304,714			281,495						610,823			572,370
Taxes other than income		7,835			4,974						14,822			10,342
Brokered natural gas and marketing		34,183			33,513						91,544			64,408
Brokered natural gas and marketing – stock-based compensation (c)		802			583						1,642			1,291
Exploration		7,562			6,316						13,606			10,518
Exploration – stock-based compensation (c)		366			335						713			659
Abandonment and impairment of unproved properties		6,781			1,524						11,355			3,895
General and administrative		32,757			31,372						64,310			65,144
General and administrative – stock-based compensation (c)		9,326			8,482						19,437			18,460
General and administrative – lawsuit settlements		63			287						90			478
Exit costs		8,502			10,094						17,399			20,409
Deferred compensation plan (d)		(88	)		1,240						2,791			7,645
Interest expense		25,630			28,356						53,415			57,472
Interest expense – amortization of deferred financing costs (e)		1,166			1,357						2,542			2,717
Gain on early extinguishment of debt		–			(179	)					(3	)		(243	)
Depletion, depreciation and amortization		91,514			87,598						182,073			174,735
Total costs and expenses		554,233			520,099			7	%		1,135,052			1,055,213			8	%

Income before income taxes		302,042			10,010			2917	%		411,777			120,352			242	%

Income tax expense (benefit)
Current		4,645			2,399						6,645			3,981
Deferred		59,819			(21,093	)					70,502			(4,471	)
		64,464			(18,694	)					77,147			(490	)

Net income	$	237,578		$	28,704			728	%	$	334,630		$	120,842			177	%


Net income Per Common Share
Basic	$	0.99		$	0.12					$	1.40		$	0.50
Diluted	$	0.99		$	0.12					$	1.39		$	0.49

Weighted average common shares outstanding, as reported
Basic		238,187			241,125			-1	%		239,106			240,815			-1	%
Diluted		239,717			242,983			-1	%		240,772			242,766			-1	%


(a) See separate natural gas, NGLs and oil sales information table.
(b) Included in Other income in the 10-Q.
(c) Costs associated with stock compensation and restricted stock amortization, which have been reflected
in the categories associated with the direct personnel costs, which are combined with the cash costs in the 10-Q.
(d) Reflects the change in market value of the vested Company stock held in the deferred compensation plan.
(e) Included in interest expense in the 10-Q.

RANGE RESOURCES CORPORATION


BALANCE SHEET
(In thousands)	June 30,			December 31,
	2025			2024
	(Unaudited)			(Audited)
Assets
Current assets	$	272,616		$	636,982
Derivative assets		51,115			87,098
Natural gas and oil properties, net (successful efforts method)		6,535,097			6,421,700
Other property and equipment, net		2,736			2,465
Operating lease right-of-use assets		170,159			119,838
Other		73,388			79,592
	$	7,105,111		$	7,347,675

Liabilities and Stockholders’ Equity
Current liabilities	$	580,744		$	1,263,247
Asset retirement obligations		1,189			1,189
Derivative liabilities		1,201			9,634

Bank debt		121,092			–
Senior notes, excluding current maturities		1,090,607			1,089,614
Deferred tax liabilities		611,873			541,378
Derivative liabilities		23,187			10,488
Deferred compensation liabilities		64,262			65,233
Operating lease liabilities		109,026			35,737
Asset retirement obligations and other liabilities		143,174			137,181
Divestiture contract obligation		232,062			257,317
		2,978,417			3,411,018

Common stock and retained deficit		4,761,293			4,449,987
Other comprehensive income		582			611
Common stock held in treasury		(635,181	)		(513,941	)
Total stockholders’ equity		4,126,694			3,936,657
	$	7,105,111		$	7,347,675

RECONCILIATION OF TOTAL DEBT AS REPORTED
TO NET DEBT, a non-GAAP measure
(Unaudited, in thousands)
	June 30,			December 31,
	2025			2024			%

Total debt, net of deferred financing costs, as reported	$	1,211,699		$	1,697,883			-29	%
Unamortized debt issuance costs, as reported		13,301			10,819
Less cash and cash equivalents, as reported		(134	)		(304,490	)
Net debt, a non-GAAP measure	$	1,224,866		$	1,404,212			-13	%

RANGE RESOURCES CORPORATION



CASH FLOWS FROM OPERATING ACTIVITIES
(Unaudited, in thousands)

	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024

Net income	$	237,578		$	28,704		$	334,630		$	120,842
Adjustments to reconcile net cash provided from continuing operations:
Deferred income tax expense (benefit)		59,819			(21,093	)		70,502			(4,471	)
Depletion, depreciation and amortization		91,514			87,598			182,073			174,735
Abandonment and impairment of unproved properties		6,781			1,524			11,355			3,895
Derivative fair value (income) loss		(154,747	)		(16,808	)		4,210			(63,406	)
Cash settlements on derivative financial instruments		31,466			128,057			36,039			250,430
Divestiture contract obligation, including accretion		8,502			10,062			17,399			20,329
Amortization of deferred financing costs and other		962			1,193			2,144			2,425
Deferred and stock-based compensation		11,047			11,122			26,130			29,337
Gain on sale of assets		(102	)		(66	)		(164	)		(153	)
Loss (gain) on early extinguishment of debt		–			(179	)		(3	)		(243	)

Changes in working capital:
Accounts receivable		96,785			(30,541	)		68,064			76,913
Other current assets		518			(13,461	)		(8,510	)		(22,405	)
Accounts payable		(27,023	)		(17,906	)		9,158			(5,718	)
Accrued liabilities and other		(26,912	)		(19,431	)		(86,754	)		(101,805	)
Net changes in working capital		43,368			(81,339	)		(18,042	)		(53,015	)
Net cash provided from operating activities	$	336,188		$	148,775		$	666,273		$	480,705



RECONCILIATION OF NET CASH PROVIDED FROM OPERATING
ACTIVITIES, AS REPORTED, TO CASH FLOW FROM OPERATIONS
BEFORE CHANGES IN WORKING CAPITAL, a non-GAAP measure
(Unaudited, in thousands)
	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Net cash provided from operating activities, as reported	$	336,188		$	148,775		$	666,273		$	480,705
Net changes in working capital		(43,368	)		81,339			18,042			53,015
Exploration expense		7,562			6,316			13,606			10,518
Lawsuit settlements		63			287			90			478
Non-cash compensation adjustment and other		66			185			(109	)		84
Cash flow from operations before changes in working capital – non-GAAP measure	$	300,511		$	236,902		$	697,902		$	544,800



ADJUSTED WEIGHTED AVERAGE SHARES OUTSTANDING
(Unaudited, in thousands)
	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Basic:
Weighted average shares outstanding		238,804			242,647			239,785			242,365
Stock held by deferred compensation plan		(617	)		(1,522	)		(679	)		(1,550	)
Adjusted basic		238,187			241,125			239,106			240,815

Dilutive:
Weighted average shares outstanding		238,804			242,647			239,785			242,365
Dilutive stock options under treasury method		913			336			987			401
Adjusted dilutive		239,717			242,983			240,772			242,766

RANGE RESOURCES CORPORATION


RECONCILIATION OF NATURAL GAS, NGLs AND OIL SALES
AND DERIVATIVE FAIR VALUE INCOME (LOSS) TO
CALCULATED CASH REALIZED NATURAL GAS, NGLs AND
OIL PRICES WITH AND WITHOUT THIRD-PARTY
TRANSPORTATION, GATHERING, PROCESSING AND
COMPRESSION COSTS, a non-GAAP measure
(Unaudited, In thousands, except per unit data)
	Three Months Ended June 30,									Six Months Ended June 30,
	2025			2024			%			2025			2024			%
Natural gas, NGLs and Oil Sales components:
Natural gas sales	$	397,955		$	209,652					$	888,332		$	481,127
NGLs sales		238,034			228,285						513,688			484,361
Oil sales		30,649			40,513						56,538			79,963
Total Natural Gas, NGLs and Oil Sales, as reported	$	666,638		$	478,450			39	%	$	1,458,558		$	1,045,451			40	%

Derivative Fair Value Income (Loss), as reported	$	154,747		$	16,808					$	(4,210	)	$	63,406
Cash settlements on derivative financial instruments – (gain) loss:
Natural gas		(29,114	)		(126,194	)					(33,843	)		(247,107	)
NGLs		(1,508	)		(1,978	)					(1,096	)		(1,901	)
Oil		(844	)		115						(1,100	)		(1,422	)
Total change in fair value related to commodity derivatives prior to
settlement, a non-GAAP measure	$	123,281		$	(111,249	)				$	(40,249	)	$	(187,024	)

Transportation, gathering, processing and compression components:
Natural Gas	$	154,704		$	153,040					$	312,223		$	303,152
NGLs		149,209			128,077						297,047			268,351
Oil		801			378						1,553			867
Total transportation, gathering, processing and compression, as reported	$	304,714		$	281,495					$	610,823		$	572,370

Natural gas, NGL and Oil sales, including cash-settled derivatives: (c)
Natural gas sales	$	427,069		$	335,846					$	922,175		$	728,234
NGLs sales		239,542			230,263						514,784			486,262
Oil Sales		31,493			40,398						57,638			81,385
Total	$	698,104		$	606,507			15	%	$	1,494,597		$	1,295,881			15	%

Production of natural gas, NGLs and oil during the periods (a):
Natural Gas (mcf)		136,297,159			136,099,063			0	%		272,260,589			268,749,303			1	%
NGLs (bbls)		10,029,051			9,376,810			7	%		19,949,040			19,137,533			4	%
Oil (bbls)		580,791			593,020			-2	%		1,004,370			1,203,299			-17	%
Gas equivalent (mcfe) (b)		199,956,211			195,918,043			2	%		397,981,049			390,794,295			2	%

Production of natural gas, NGLs and oil – average per day (a):
Natural Gas (mcf)		1,497,771			1,495,594			0	%		1,504,202			1,476,645			2	%
NGLs (bbls)		110,209			103,042			7	%		110,216			105,151			5	%
Oil (bbls)		6,382			6,517			-2	%		5,549			6,612			-16	%
Gas equivalent (mcfe) (b)		2,197,321			2,152,946			2	%		2,198,790			2,147,221			2	%

Average prices, excluding derivative settlements and before third-party
transportation costs:
Natural Gas (per mcf)	$	2.92		$	1.54			90	%	$	3.26		$	1.79			82	%
NGLs (per bbl)	$	23.73		$	24.35			-3	%	$	25.75		$	25.31			2	%
Oil (per bbl)	$	52.77		$	68.32			-23	%	$	56.29		$	66.45			-15	%
Gas equivalent (per mcfe) (b)	$	3.33		$	2.44			36	%	$	3.66		$	2.68			37	%

Average prices, including derivative settlements before third-party
transportation costs: (c)
Natural Gas (per mcf)	$	3.13		$	2.47			27	%	$	3.39		$	2.71			25	%
NGLs (per bbl)	$	23.88		$	24.56			-3	%	$	25.80		$	25.41			2	%
Oil (per bbl)	$	54.22		$	68.12			-20	%	$	57.39		$	67.63			-15	%
Gas equivalent (per mcfe) (b)	$	3.49		$	3.10			13	%	$	3.75		$	3.32			13	%

Average prices, including derivative settlements and after third-party
transportation costs: (d)
Natural Gas (per mcf)	$	2.00		$	1.34			49	%	$	2.24		$	1.58			42	%
NGLs (per bbl)	$	9.01		$	10.90			-17	%	$	10.91		$	11.39			-4	%
Oil (per bbl)	$	52.84		$	67.48			-22	%	$	55.84		$	66.91			-17	%
Gas equivalent (per mcfe) (b)	$	1.97		$	1.66			19	%	$	2.22		$	1.85			20	%

Transportation, gathering and compression expense per mcfe	$	1.52		$	1.44			6	%	$	1.53		$	1.47			4	%

(a) Represents volumes sold regardless of when produced.
(b) Oil and NGLs are converted at the rate of one barrel equals six mcfe based upon the approximate relative energy content of oil to natural gas, which is not necessarily
indicative of the relationship of oil and natural gas prices.
(c) Excluding third-party transportation, gathering, processing and compression costs.
(d) Net of transportation, gathering, processing and compression costs.

RANGE RESOURCES CORPORATION



RECONCILIATION OF INCOME BEFORE INCOME
TAXES AS REPORTED TO INCOME BEFORE INCOME TAXES
EXCLUDING CERTAIN ITEMS, a non-GAAP measure
(Unaudited, In thousands, except per share data)
	Three Months Ended June 30,									Six Months Ended June 30,
	2025			2024			%			2025			2024			%

Income from operations before income taxes, as reported	$	302,042		$	10,010			2917	%	$	411,777		$	120,352			242	%
Adjustment for certain special items:
Gain on the sale of assets		(102	)		(66	)					(164	)		(153	)
ARO settlement (gain) loss		(1	)		–						(1	)		26
Change in fair value related to derivatives prior to settlement		(123,281	)		111,249						40,249			187,024
Abandonment and impairment of unproved properties		6,781			1,524						11,355			3,895
Loss (gain) on early extinguishment of debt		–			(179	)					(3	)		(243	)
Lawsuit settlements		63			287						90			478
Exit costs		8,502			10,094						17,399			20,409
Brokered natural gas and marketing – stock-based compensation		802			583						1,642			1,291
Direct operating – stock-based compensation		504			471						1,041			968
Exploration expenses – stock-based compensation		366			335						713			659
General & administrative – stock-based compensation		9,326			8,482						19,437			18,460
Deferred compensation plan – non-cash adjustment		(88	)		1,240						2,791			7,645

Income before income taxes, as adjusted		204,914			144,030			42	%		506,326			360,811			40	%

Income tax expense, as adjusted
Current		4,645			2,399						6,645			3,981
Deferred (a)		42,485			30,728						109,810			79,006

Net income, excluding certain items, a non-GAAP measure	$	157,784		$	110,903			42	%	$	389,871		$	277,824			40	%

Non-GAAP income per common share
Basic	$	0.66		$	0.46			43	%	$	1.63		$	1.15			42	%
Diluted	$	0.66		$	0.46			43	%	$	1.62		$	1.14			42	%

Non-GAAP diluted shares outstanding, if dilutive		239,717			242,983						240,772			242,766



(a) Taxes are estimated to be approximately 23% for 2024 and 2025

RANGE RESOURCES CORPORATION



RECONCILIATION OF NET INCOME, EXCLUDING
CERTAIN ITEMS AND ADJUSTED EARNINGS PER
SHARE, non-GAAP measures
(In thousands, except per share data)
	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024

Net income, as reported	$	237,578		$	28,704		$	334,630		$	120,842
Adjustments for certain special items:
Gain on the sale of assets		(102	)		(66	)		(164	)		(153	)
ARO settlement (gain) loss		(1	)		–			(1	)		26
Gain on early extinguishment of debt		–			(179	)		(3	)		(243	)
Change in fair value related to derivatives prior to settlement		(123,281	)		111,249			40,249			187,024
Abandonment and impairment of unproved properties		6,781			1,524			11,355			3,895
Lawsuit settlements		63			287			90			478
Exit costs		8,502			10,094			17,399			20,409
Stock-based compensation		10,998			9,871			22,833			21,378
Deferred compensation plan		(88	)		1,240			2,791			7,645
Tax impact		17,334			(51,821	)		(39,308	)		(83,477	)

Net income, excluding certain items, a non-GAAP measure	$	157,784		$	110,903		$	389,871		$	277,824

Net income per diluted share, as reported	$	0.99		$	0.12		$	1.39		$	0.49
Adjustments for certain special items per diluted share:
Gain on the sale of assets		–			–			–			–
ARO settlement (gain) loss		–			–			–			–
Gain on early extinguishment of debt		–			–			–			–
Change in fair value related to derivatives prior to settlement		(0.51	)		0.46			0.17			0.77
Abandonment and impairment of unproved properties		0.03			0.01			0.05			0.02
Lawsuit settlements		–			–			–			–
Exit costs		0.04			0.04			0.07			0.08
Stock-based compensation		0.05			0.04			0.09			0.09
Deferred compensation plan		–			0.01			0.01			0.03
Adjustment for rounding differences		(0.01	)		(0.01	)		–			–
Tax impact		0.07			(0.21	)		(0.16	)		(0.34	)
Dilutive share impact (rabbi trust and other)		–			–			–			–

Net income per diluted share, excluding certain items, a non-GAAP measure	$	0.66		$	0.46		$	1.62		$	1.14

Adjusted earnings per share, a non-GAAP measure:
Basic	$	0.66		$	0.46		$	1.63		$	1.15
Diluted	$	0.66		$	0.46		$	1.62		$	1.14

RANGE RESOURCES CORPORATION


RECONCILIATION OF CASH MARGIN PER MCFE, a non-
GAAP measure
(Unaudited, In thousands, except per unit data)
	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024

Revenues
Natural gas, NGLs and oil sales, as reported	$	666,638		$	478,450		$	1,458,558		$	1,045,451
Derivative fair value income (loss), as reported		154,747			16,808			(4,210	)		63,406
Less non-cash fair value (gain) loss		(123,281	)		111,249			40,249			187,024
Brokered natural gas and marketing, as reported		33,009			31,393			87,417			60,224
Other income, as reported		1,881			3,458			5,064			6,484
Less gain on sale of assets		(102	)		(66	)		(164	)		(153	)
Less ARO settlement		(1	)		–			(1	)		26
Cash revenues		732,891			641,292			1,586,913			1,362,462

Expenses
Direct operating, as reported		23,120			22,752			48,493			44,913
Less direct operating stock-based compensation		(504	)		(471	)		(1,041	)		(968	)
Transportation, gathering and compression, as reported		304,714			281,495			610,823			572,370
Taxes other than income, as reported		7,835			4,974			14,822			10,342
Brokered natural gas and marketing, as reported		34,985			34,096			93,186			65,699
Less brokered natural gas and marketing stock-based compensation		(802	)		(583	)		(1,642	)		(1,291	)
General and administrative, as reported		42,146			40,141			83,837			84,082
Less G&A stock-based compensation		(9,326	)		(8,482	)		(19,437	)		(18,460	)
Less lawsuit settlements		(63	)		(287	)		(90	)		(478	)
Interest expense, as reported		26,796			29,713			55,957			60,189
Less amortization of deferred financing costs		(1,166	)		(1,357	)		(2,542	)		(2,717	)
Cash expenses		427,735			401,991			882,366			813,681

Cash margin, a non-GAAP measure	$	305,156		$	239,301		$	704,547		$	548,781

Mmcfe produced during period		199,956			195,918			397,981			390,794

Cash margin per mcfe	$	1.53		$	1.22		$	1.77		$	1.40

RECONCILIATION OF INCOME BEFORE INCOME TAXES
TO CASH MARGIN, a non-GAAP measure
(Unaudited, in thousands, except per unit data)
	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024

Income before income taxes, as reported	$	302,042		$	10,010		$	411,777		$	120,352
Adjustments to reconcile income before income taxes
to cash margin:
ARO settlements		(1	)		–			(1	)		26
Derivative fair value (income) loss		(154,747	)		(16,808	)		4,210			(63,406	)
Net cash receipts on derivative settlements		31,466			128,057			36,039			250,430
Exploration expense		7,562			6,316			13,606			10,518
Lawsuit settlements		63			287			90			478
Exit costs		8,502			10,094			17,399			20,409
Deferred compensation plan		(88	)		1,240			2,791			7,645
Stock-based compensation (direct operating, brokered natural gas and		10,998			9,871			22,833			21,378
marketing and general and administrative)
Bad debt expense		–			–			–			–
Interest – amortization of deferred financing costs		1,166			1,357			2,542			2,717
Depletion, depreciation and amortization		91,514			87,598			182,073			174,735
Gain on sale of assets		(102	)		(66	)		(164	)		(153	)
Gain on early extinguishment of debt		–			(179	)		(3	)		(243	)
Abandonment and impairment of unproved properties		6,781			1,524			11,355			3,895
Cash margin, a non-GAAP measure	$	305,156		$	239,301		$	704,547		$	548,781

MIL-OSI USA: Warren Announces Meeting with Social Security Commissioner, Outlines Ten Key Concerns

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren

July 22, 2025

Warren, Bisignano meeting scheduled for Wednesday, July 23

“The nearly 70 million Americans who receive and rely on Social Security benefits deserve answers about the future of the program under your leadership.”

Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), a leader of the Senate Democrats’ Social Security War Room, announced today that she will meet with Social Security Administration (SSA) Commissioner Frank Bisignano tomorrow, on July 23. Ahead of the meeting, Senator Warren sent Bisignano a letter outlining her ten key concerns and asked him to come prepared to provide answers to her specific questions.

“Under the Trump administration, Americans are being forced to deal with hours-long phone wait times, understaffed field offices, AI doom loops, and website glitches. SSA Commissioner Bisignano is making it harder for Americans to get the Social Security benefits they’ve earned over a lifetime of work. That’s wrong — and I’m looking forward to meeting with him and getting answers for the American people,” said Senator Warren.

“The nearly 70 million Americans who receive and rely on Social Security benefits deserve answers about the future of the program under your leadership,” wrote Senator Warren.

Senator Warren’s ten questions for Commissioner Bisignano are:

After dramatically shrinking SSA’s workforce and cutting thousands of jobs, how can you still claim that SSA is adequately staffed when extensive reporting—and your own decision to reassign staff to DOGE-created staffing holes—shows this is not the case?
Will you commit to keeping all SSA field offices open?
How are you ensuring that staffing reductions and reassignments are not degrading services at field offices?
Why did you remove key customer service metrics from the SSA website?
How can you account for the difference in the wait times that you are reporting and the longer wait times revealed by independent investigations?
Are you directing relevant SSA staff to follow the SSA’s own IT modernization plan, last updated in 2024, or have you directed any subordinate to follow a plan created or issued by any individual associated with DOGE?
How is SSA protecting the sensitive personal information stored in its databases? Will you commit to not allow access to individuals’ data beyond what is strictly necessary for the provision of benefits?
Why are you perpetuating lies that SSA is rife with fraud, when in reality, your own fraud checks—which slowed claims by 25 percent—revealed it was nearly nonexistent?
Are you using fraud markers as a way to cut off immigrants from financial services in hopes of “self-deporting”?
Would you consider privatizing any part of SSA? If so, which parts of the agency are under consideration for privatization?

Senate Dems’ Social Security War Room is a coordinated effort to fight back against the Trump administration’s attack on Americans’ Social Security. The War Room coordinates messaging across the Senate Democratic Caucus and external stakeholders; encourages grassroots engagement by providing opportunities for Americans to share what Social Security means to them; and educates Senate staff, the American public, and stakeholders about Republicans’ agenda and their continued cuts to Americans’ Social Security services and benefits.

MIL-OSI: NextNav Announces Date for Second Quarter 2025 Earnings Call

Source: GlobeNewswire (MIL-OSI)

RESTON, Va., July 22, 2025 (GLOBE NEWSWIRE) — NextNav (Nasdaq: NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, today announced that it will release its financial results for the second quarter ended June 30, 2025 after market close on Wednesday, August 6, 2025, and will host a conference call on the same day at 5:00 PM ET to discuss its results and operational highlights.

Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I629360. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast.

To access the live webcast or a replay, visit the Company’s investor relations website at https://ir.nextnav.com/.

A replay will be available through August 13, 2025. To receive replay details, please register through the link above. After registering for replay details, each participant will be provided with call details and access codes to listen to the call playback.

About NextNav

NextNav Inc. (Nasdaq: NN) is a leader in next-generation positioning, navigation and timing (PNT), enabling a whole new ecosystem of applications and services that rely upon 3D geolocation and PNT technology. Powered by low-band licensed spectrum, NextNav’s positioning and timing technologies deliver accurate, reliable, and resilient 3D PNT solutions for critical infrastructure, GPS resiliency and commercial use cases.

For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/.

Source: NN-FIN

Investor Contact:
IR@nextnav.com

MIL-OSI: Enphase Energy Reports Financial Results for the Second Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

FREMONT, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the second quarter of 2025, which included the summary below from its President and CEO, Badri Kothandaraman.

We reported quarterly revenue of $363.2 million in the second quarter of 2025, along with 48.6% for non-GAAP gross margin. We shipped approximately 1.53 million microinverters, or 675.4 megawatts DC, and 190.9 megawatt hours (MWh) of IQ^® Batteries.

Highlights for the second quarter of 2025 are listed below:

IQ^® Meter Collar approved by 29 U.S. utilities to date
U.S. manufacturing: shipped approximately 1.41 million microinverters and record 46.9 MWh of IQ Batteries
Revenue of $363.2 million
GAAP gross margin of 46.9%; non-GAAP gross margin of 48.6% with net IRA benefit
Non-GAAP gross margin of 37.2%, excluding net IRA benefit of 11.4%
GAAP operating income of $37.0 million; non-GAAP operating income of $98.6 million
GAAP net income of $37.1 million; non-GAAP net income of $89.9 million
GAAP diluted earnings per share of $0.28; non-GAAP diluted earnings per share of $0.69
Free cash flow of $18.4 million; ending cash, cash equivalents and marketable securities of $1.53 billion

Our revenue and earnings for the second quarter of 2025 are provided below, compared with the prior quarter:

(In thousands, except per share and percentage data)

	GAAP									Non-GAAP
	Q2 2025			Q1 2025			Q2 2024			Q2 2025			Q1 2025			Q2 2024
Revenue	$	363,153		$	356,084		$	303,458		$	363,153		$	356,084		$	303,458
Gross margin		46.9	%		47.2	%		45.2	%		48.6	%		48.9	%		47.1	%
Operating expenses	$	133,486		$	136,319		$	135,367		$	77,781		$	79,423		$	81,706
Operating income	$	37,007		$	31,922		$	1,799		$	98,613		$	94,637		$	61,080
Net income	$	37,052		$	29,730		$	10,833		$	89,869		$	89,243		$	58,824
Basic EPS	$	0.28		$	0.23		$	0.08		$	0.69		$	0.68		$	0.43
Diluted EPS	$	0.28		$	0.22		$	0.08		$	0.69		$	0.68		$	0.43

Total revenue for the second quarter of 2025 was $363.2 million, compared to $356.1 million in the first quarter of 2025. Our revenue in the second quarter of 2025 included $40.4 million of safe harbor revenue, compared to $54.3 million of safe harbor revenue in the first quarter. Our revenue in the United States for the second quarter of 2025 increased approximately 3%, compared to the first quarter. The increase was the result of seasonality partially offset by lower safe harbor revenue. Our revenue in Europe increased approximately 11% for the second quarter of 2025, compared to the first quarter. The increase in revenue was primarily due to higher microinverter and battery sales as we continued to ramp shipments of our IQ^® Battery 5P™ with FlexPhase during the second quarter.

Our non-GAAP gross margin was 48.6% in the second quarter of 2025, compared to 48.9% in the first quarter. Our non-GAAP gross margin, excluding net benefit from the Inflation Reduction Act (IRA), was 37.2% in the second quarter of 2025, compared to 38.3% in the first quarter. The reciprocal tariffs had a negative impact of approximately two percentage points on margins.

Our non-GAAP operating expenses were $77.8 million in the second quarter of 2025, compared to $79.4 million in the first quarter. Our non-GAAP operating income was $98.6 million in the second quarter of 2025, compared to $94.6 million in the first quarter.

We exited the second quarter of 2025 with $1.53 billion in cash, cash equivalents and marketable securities and generated $26.6 million in cash flow from operations in the second quarter. Our capital expenditures were $8.2 million in the second quarter of 2025, compared to $14.6 million in the first quarter of 2025.

In the second quarter of 2025, we repurchased 702,948 shares of our common stock at an average price of $42.67 per share for a total of approximately $30.0 million. We also spent approximately $3.0 million by withholding shares to cover taxes for employee stock vesting that reduced the diluted shares by 58,332 shares.

During the second quarter of 2025, we shipped approximately 1.41 million microinverters from manufacturing facilities in the United States that we booked for 45X production tax credits. We continued to ship our IQ8HC™ Microinverters, IQ8P-3P™ Commercial Microinverters, and IQ^® Battery 5Ps from these facilities, meeting domestic content requirements.

We shipped a record 190.9 MWh of IQ Batteries in the second quarter of 2025, compared to 170.1 MWh in the first quarter. More than 11,700 installers worldwide are certified to install our IQ Batteries, compared to more than 10,900 installers worldwide in the first quarter of 2025. In addition, we have 210 MWh of batteries in our fleet currently enrolled in virtual power plant (VPP) programs globally.

During the second quarter of 2025, we began shipping our fourth-generation Enphase Energy System, which includes the IQ^® Battery 10C, IQ^® Meter Collar, and IQ^® Combiner 6C, to customers in the United States. The IQ Battery 10C is designed to be 30% more energy-dense, occupy 62% less wall space, and lower the cost of install compared to previous models. Together, these components simplify the entire backup installation process, enhance reliability, and provide greater value to homeowners. The IQ Meter Collar has now been approved by 29 U.S. utilities.

We also ramped shipments of our IQ Battery with FlexPhase into more countries in Europe. This AC-coupled battery system supports both single-phase and three-phase homes, providing full backup capability and superior flexibility to meet diverse home energy needs.

The IQ^® EV Charger 2, our most advanced residential charger to date, is now shipping to 18 countries across Europe, Australia, and New Zealand. This smart charger is designed to work seamlessly with Enphase solar and battery systems or as a powerful standalone solution. We also started shipping our IQ^® Balcony Solar Kit, a simple and efficient solution for harnessing solar energy from panels installed on apartment balconies, in Belgium and Germany during the second quarter of 2025.

We continue to strengthen our digital platform and improve the customer experience. We are investing in several new enhancements for Solargraf, our all-in-one installer platform, including expanded third-party ownership (TPO) partner integrations, a custom tariff builder, enhanced dealership management features, and a simplified, AI-driven design experience – all aimed at making Solargraf even more powerful and intuitive.

BUSINESS HIGHLIGHTS

On July 17, 2025, Enphase Energy announced initial shipments of the IQ Battery 5P supplied from manufacturing facilities in the United States with higher domestic content than previous models.

On July 10 and July 2, 2025, Enphase Energy announced that production shipments of its IQ EV Charger 2 have expanded Europe to now include Greece, Romania, Ireland, Poland, Australia, and New Zealand.

On June 16, 2025, Enphase Energy announced the launch of the IQ Battery 5P with FlexPhase, for customers in more European countries, including Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands.

On June 4, 2025, Enphase Energy announced that IQ8P-3P Commercial Microinverters made with domestic content were selected for significant commercial projects on a Florida school, an affordable housing complex in Rhode Island, and a community center in California.

On May 19, 2025, Enphase Energy introduced IQ^® Energy Management that integrates with Enphase solar and battery systems to enable smart management of variable electricity rates and select third-party electric vehicle (EV) chargers, heat pumps, and resistive electric water heaters in France.

On May 12 and May 7, 2025, Enphase Energy announced the launch of the IQ Balcony Solar System in Belgium and Germany that empowers apartment dwellers and homeowners with limited roof space to generate their own clean energy from balconies, patios, and small outdoor areas.

On May 8, 2025, Enphase Energy announced the availability of new software that allows homeowners with existing legacy IQ7™ Microinverter-based systems to seamlessly expand their solar capacity using IQ8™ Microinverters.

On April 28, 2025, Enphase Energy announced production shipments of IQ8 Microinverters in Japan through a distribution agreement with ITOCHU Corporation, one of the largest trading companies in the country.

THIRD QUARTER 2025 FINANCIAL OUTLOOK

For the third quarter of 2025, Enphase Energy estimates both GAAP and non-GAAP financial results as follows:

Revenue to be within a range of $330.0 million to $370.0 million, which includes shipments of 190 to 210 MWh of IQ Batteries.
GAAP gross margin to be within a range of 41.0% to 44.0% with net IRA benefit, including approximately three to five percentage points of new tariff impact.
Non-GAAP gross margin to be within a range of 43.0% to 46.0% with net IRA benefit and 33.0% to 36.0% excluding net IRA benefit, including approximately three to five percentage points of new tariff impact. Non-GAAP gross margin excludes stock-based compensation expense and acquisition related amortization.
Net IRA benefit to be within a range of $34.0 million to $38.0 million based on estimated shipments of 1,200,000 units of U.S. manufactured microinverters.
GAAP operating expenses to be within a range of $130.0 million to $134.0 million.
Non-GAAP operating expenses to be within a range of $78.0 million to $82.0 million, excluding $52.0 million estimated for stock-based compensation expense, acquisition related amortization, restructuring and asset impairment charges.

For 2025, Enphase expects a GAAP tax rate of 19-21% and a non-GAAP tax rate of 15-17%, including IRA benefits.

Follow Enphase Online

Use of non-GAAP Financial Measures

Enphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP). Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this press release. Non-GAAP financial measures presented by Enphase Energy include non-GAAP gross profit, gross margin, operating expenses, income from operations, net income, net income per share (basic and diluted), net IRA benefit, and free cash flow.

These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Enphase Energy’s results of operations as determined in accordance with GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Enphase Energy uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. Enphase Energy believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.

As presented in the “Reconciliation of Non-GAAP Financial Measures” tables below, each of the non-GAAP financial measures excludes one or more of the following items for purposes of calculating non-GAAP financial measures to facilitate an evaluation of Enphase Energy’s current operating performance and a comparison to its past operating performance:

Stock-based compensation expense. Enphase Energy excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash in nature. Moreover, the impact of this expense is significantly affected by Enphase Energy’s stock price at the time of an award over which management has limited to no control.

Acquisition related amortization. This item represents amortization of acquired intangible assets, which is a non-cash expense. Acquisition related amortization of acquired intangible assets are not reflective of Enphase Energy’s ongoing financial performance.

Restructuring and asset impairment charges. Enphase Energy excludes restructuring and asset impairment charges due to the nature of the expenses being unusual and arising outside the ordinary course of continuing operations. These costs primarily consist of fees paid for cash-based severance costs, accelerated stock-based compensation expense and asset write-downs of property and equipment and acquired intangible assets, and other contract termination costs resulting from restructuring initiatives.

Non-cash interest expense. This item consists primarily of amortization of debt issuance costs and accretion of debt discount because these expenses do not represent a cash outflow for Enphase Energy except in the period the financing was secured and such amortization expense is not reflective of Enphase Energy’s ongoing financial performance.

Non-GAAP income tax adjustment. This item represents the amount adjusted to Enphase Energy’s GAAP tax provision or benefit to exclude the income tax effects of GAAP adjustments such as stock-based compensation, amortization of purchased intangibles, and other non-recurring items that are not reflective of Enphase Energy ongoing financial performance.

Non-GAAP net income per share, diluted. Enphase Energy excludes the dilutive effect of in-the-money portion of convertible senior notes as they are covered by convertible note hedge transactions that reduce potential dilution to our common stock upon conversion of the Notes due 2025, Notes due 2026, and Notes due 2028, and includes the dilutive effect of employee’s stock-based awards and the dilutive effect of warrants. Enphase Energy believes these adjustments provide useful supplemental information to the ongoing financial performance.

Net IRA benefit. This item represents the advanced manufacturing production tax credit (AMPTC) from the IRA for manufacturing microinverters in the United States, partially offset by the incremental manufacturing cost incurred in the United States relative to manufacturing in India. The AMPTC is accounted for by Enphase Energy as an income-based government grants that reduces cost of revenues in the condensed consolidated statements of operations.

Free cash flow. This item represents net cash flows from operating activities less purchases of property and equipment.

Conference Call Information

Enphase Energy will host a conference call for analysts and investors to discuss its second quarter 2025 results and third quarter 2025 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The call is open to the public by dialing (833) 634-5018. A live webcast of the conference call will also be accessible from the “Investor Relations” section of Enphase Energy’s website at https://investor.enphase.com.

Following the webcast, an archived version will be available on the website for approximately one year. In addition, an audio replay of the conference call will be available by calling (877) 344-7529; replay access code 6021998, beginning approximately one hour after the call.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its third quarter of 2025 financial outlook, including revenue, shipments of IQ Batteries by MWh, gross margin with net IRA benefit and excluding net IRA benefit, estimated shipments of U.S. manufactured microinverters, operating expenses, and annualized effective tax rate with IRA benefit; its expectations regarding the expected net IRA benefit; future enhancements for Solargraf; and the capabilities, advantages, features, and performance of its technology and products. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in its most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other documents on file with the SEC from time to time and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

A copy of this press release can be found on the investor relations page of Enphase Energy’s website at https://investor.enphase.com.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 83.1 million microinverters, and more than 4.9 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

© 2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

Contact:

Zach Freedman
Enphase Energy, Inc.
Investor Relations
ir@enphaseenergy.com

ENPHASE ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
	Three Months Ended									Six Months Ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Net revenues	$	363,153		$	356,084		$	303,458		$	719,237		$	566,797
Cost of revenues		192,660			187,843			166,292			380,503			314,123
Gross profit		170,493			168,241			137,166			338,734			252,674
Operating expenses:
Research and development		45,421			50,174			48,871			95,595			103,082
Sales and marketing		50,708			48,948			51,775			99,656			105,082
General and administrative		34,035			34,035			33,550			68,070			68,732
Restructuring and asset impairment charges		3,322			3,162			1,171			6,484			3,078
Total operating expenses		133,486			136,319			135,367			269,805			279,974
Income (loss) from operations		37,007			31,922			1,799			68,929			(27,300	)
Other income, net
Interest income		14,911			17,032			19,203			31,943			38,912
Interest expense		(815	)		(2,047	)		(2,220	)		(2,862	)		(4,416	)
Other expense, net		(8,898	)		(14	)		(7,566	)		(8,912	)		(7,479	)
Total other income, net		5,198			14,971			9,417			20,169			27,017
Income (loss) before income taxes		42,205			46,893			11,216			89,098			(283	)
Income tax provision		(5,153	)		(17,163	)		(383	)		(22,316	)		(4,981	)
Net income (loss)	$	37,052		$	29,730		$	10,833		$	66,782		$	(5,264	)
Net income (loss) per share:
Basic	$	0.28		$	0.23		$	0.08		$	0.51		$	(0.04	)
Diluted	$	0.28		$	0.22		$	0.08		$	0.50		$	(0.04	)
Shares used in per share calculation:
Basic		131,031			131,869			135,646			131,447			135,768
Diluted		135,219			136,208			136,123			135,719			135,768

ENPHASE ENERGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
	June 30, 2025		December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	370,536	$	369,110
Restricted cash		—		95,006
Marketable securities		1,159,648		1,253,480
Accounts receivable, net		223,218		223,749
Inventory		173,016		165,004
Prepaid expenses and other assets		362,523		220,735
Total current assets		2,288,941		2,327,084
Property and equipment, net		136,902		147,514
Intangible assets, net		32,380		42,398
Goodwill		214,890		211,571
Other assets		193,426		205,542
Deferred tax assets, net		312,250		315,567
Total assets	$	3,178,789	$	3,249,676
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	162,697	$	90,032
Accrued liabilities		206,537		196,887
Deferred revenues, current		129,040		237,225
Warranty obligations, current		33,136		34,656
Debt, current		631,179		101,291
Total current liabilities		1,162,589		660,091
Long-term liabilities:
Deferred revenues, non-current		331,531		341,982
Warranty obligations, non-current		172,950		158,233
Other liabilities		59,542		55,265
Debt, non-current		571,540		1,201,089
Total liabilities		2,298,152		2,416,660
Total stockholders’ equity		880,637		833,016
Total liabilities and stockholders’ equity	$	3,178,789	$	3,249,676

ENPHASE ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
		Three Months Ended									Six Months Ended
		June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Cash flows from operating activities:
Net income (loss)		$	37,052		$	29,730		$	10,833		$	66,782		$	(5,264	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			20,085			19,915			20,484			40,000			40,621
Net accretion of premium (discount) on marketable securities			(1,234	)		3,512			(1,030	)		2,278			1,795
Provision for doubtful accounts			130			62			1,897			192			1,767
Asset impairment			1,538			27			6,241			1,565			6,573
Non-cash interest expense			828			1,679			2,157			2,507			4,289
Change in fair value of debt securities			9,464			(323	)		1,931			9,141			989
Stock-based compensation			53,896			55,633			52,757			109,529			113,590
Deferred income taxes			403			8,560			(14,076	)		8,963			(22,368	)
Changes in operating assets and liabilities:
Accounts receivable			8,681			1,760			82,183			10,441			159,542
Inventory			(28,991	)		20,979			31,825			(8,012	)		37,527
Prepaid expenses and other assets			(64,261	)		(75,553	)		(42,810	)		(139,814	)		(53,707	)
Accounts payable, accrued and other liabilities			37,212			54,232			(23,944	)		91,444			(90,228	)
Warranty obligations			2,639			10,558			15			13,197			(11,908	)
Deferred revenues			(50,813	)		(82,357	)		(1,401	)		(133,170	)		(6,955	)
	Net cash provided by operating activities		26,629			48,414			127,062			75,043			176,263
Cash flows from investing activities:
Purchases of property and equipment			(8,259	)		(14,608	)		(9,636	)		(22,867	)		(17,007	)
Investment in tax equity fund			(1,440	)		(6,904	)		—			(8,344	)		—
Purchases of marketable securities			(284,306	)		(200,826	)		(300,053	)		(485,132	)		(772,321	)
Maturities and sale of marketable securities			242,820			335,398			282,063			578,218			779,436
	Net cash provided by (used in) investing activities		(51,185	)		113,060			(27,626	)		61,875			(9,892	)
Cash flows from financing activities:
Settlement of Notes due 2025			—			(102,168	)		—			(102,168	)		(2	)
Repurchase of common stock			(29,993	)		(99,964	)		(99,908	)		(129,957	)		(141,904	)
Proceeds from issuance of common stock under employee equity plans			5,302			67			6,769			5,369			7,955
Payment of withholding taxes related to net share settlement of equity awards			(2,864	)		(12,110	)		(7,473	)		(14,974	)		(67,515	)
	Net cash used in financing activities		(27,555	)		(214,175	)		(100,612	)		(241,730	)		(201,466	)
	Effect of exchange rate changes on cash, cash equivalents and restricted cash		7,557			3,675			(374	)		11,232			(1,551	)
Net decrease in cash, cash equivalents and restricted cash			(44,554	)		(49,026	)		(1,550	)		(93,580	)		(36,646	)
Cash, cash equivalents and restricted cash — Beginning of period			415,090			464,116			253,652			464,116			288,748
Cash, cash equivalents and restricted cash — End of period		$	370,536		$	415,090		$	252,102		$	370,536		$	252,102

ENPHASE ENERGY, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In thousands, except per share data and percentages)
(Unaudited)
		Three Months Ended									Six Months Ended
		June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Gross profit (GAAP)		$	170,493		$	168,241		$	137,166		$	338,734		$	252,674
	Stock-based compensation		4,311			4,239			3,730			8,550			7,912
	Acquisition related amortization		1,590			1,580			1,890			3,170			3,781
Gross profit (Non-GAAP)		$	176,394		$	174,060		$	142,786		$	350,454		$	264,367

Gross margin (GAAP)			46.9	%		47.2	%		45.2	%		47.1	%		44.6	%
	Stock-based compensation		1.3			1.2			1.3			1.2			1.3
	Acquisition related amortization		0.4			0.5			0.6			0.4			0.7
Gross margin (Non-GAAP)			48.6	%		48.9	%		47.1	%		48.7	%		46.6	%

Operating expenses (GAAP)		$	133,486		$	136,319		$	135,367		$	269,805		$	279,974
	Stock-based compensation⁽¹⁾		(49,506	)		(50,885	)		(49,027	)		(100,391	)		(105,678	)
	Acquisition related amortization		(2,877	)		(2,849	)		(3,463	)		(5,726	)		(6,925	)
	Restructuring and asset impairment charges⁽¹⁾		(3,322	)		(3,162	)		(1,171	)		(6,484	)		(3,078	)
Operating expenses (Non-GAAP)		$	77,781		$	79,423		$	81,706		$	157,204		$	164,293

⁽¹⁾Includes stock-based compensation as follows:
	Research and development	$	20,481		$	21,647		$	20,210		$	42,128		$	44,760
	Sales and marketing		16,657			16,396			16,784			33,053			34,962
	General and administrative		12,368			12,842			12,033			25,210			25,956
	Restructuring and asset impairment charges		79			509			—			588			—
	Total	$	49,585		$	51,394		$	49,027		$	100,979		$	105,678

Income (loss) from operations (GAAP)		$	37,007		$	31,922		$	1,799		$	68,929		$	(27,300	)
	Stock-based compensation		53,817			55,124			52,757			108,941			113,590
	Acquisition related amortization		4,467			4,429			5,353			8,896			10,706
	Restructuring and asset impairment charges		3,322			3,162			1,171			6,484			3,078
Income from operations (Non-GAAP)		$	98,613		$	94,637		$	61,080		$	193,250		$	100,074

Net income (loss) (GAAP)		$	37,052		$	29,730		$	10,833		$	66,782		$	(5,264	)
	Stock-based compensation		53,817			55,124			52,757			108,941			113,590
	Acquisition related amortization		4,467			4,429			5,353			8,896			10,706
	Restructuring and asset impairment charges		3,322			3,162			1,171			6,484			3,078
	Non-cash interest expense		829			1,678			2,157			2,507			4,289
	Non-GAAP income tax adjustment		(9,618	)		(4,880	)		(13,447	)		(14,498	)		(19,619	)
Net income (Non-GAAP)		$	89,869		$	89,243		$	58,824		$	179,112		$	106,780

Net income (loss) per share, basic (GAAP)		$	0.28		$	0.23		$	0.08		$	0.51		$	(0.04	)
	Stock-based compensation		0.41			0.42			0.39			0.80			0.84
	Acquisition related amortization		0.03			0.04			0.04			0.08			0.08
	Restructuring and asset impairment charges		0.03			0.02			0.01			0.06			0.02
	Non-cash interest expense		0.01			0.01			0.02			0.02			0.03
	Non-GAAP income tax adjustment		(0.07	)		(0.04	)		(0.11	)		(0.11	)		(0.14	)
Net income per share, basic (Non-GAAP)		$	0.69		$	0.68		$	0.43		$	1.36		$	0.79

	Shares used in basic per share calculation GAAP and Non-GAAP		131,031			131,869			135,646			131,447			135,768

Net income (loss) per share, diluted (GAAP)		$	0.28		$	0.22		$	0.08		$	0.50		$	(0.04	)
	Stock-based compensation		0.41			0.42			0.38			0.83			0.84
	Acquisition related amortization		0.03			0.04			0.04			0.07			0.08
	Restructuring and asset impairment charges		0.03			0.03			0.01			0.05			0.02
	Non-cash interest expense		0.01			0.01			0.02			0.02			0.03
	Non-GAAP income tax adjustment		(0.07	)		(0.04	)		(0.10	)		(0.11	)		(0.15	)
Net income per share, diluted (Non-GAAP)		$	0.69		$	0.68		$	0.43		$	1.36		$	0.78

	Shares used in diluted per share calculation GAAP		135,219			136,208			136,123			135,719			135,768
	Shares used in diluted per share calculation Non-GAAP		131,144			132,133			136,123			131,644			136,439

Income-based government grants (GAAP)		$	61,040		$	53,631		$	24,329		$	114,671		$	42,946
	Incremental cost for manufacturing in U.S.		(19,528	)		(15,773	)		(5,950	)		(35,301	)		(10,832	)
Net IRA benefit (Non-GAAP)		$	41,512		$	37,858		$	18,379		$	79,370		$	32,114

Net cash provided by operating activities (GAAP)		$	26,629		$	48,414		$	127,062		$	75,043		$	176,263
	Purchases of property and equipment		(8,259	)		(14,608	)		(9,636	)		(22,867	)		(17,007	)
Free cash flow (Non-GAAP)		$	18,370		$	33,806		$	117,426		$	52,176		$	159,256

This press release was published by a CLEAR® Verified individual.

MIL-OSI: Vicor Corporation Reports Results for the Second Quarter Ended June 30, 2025

Source: GlobeNewswire (MIL-OSI)

ANDOVER, Mass., July 22, 2025 (GLOBE NEWSWIRE) — Vicor Corporation (NASDAQ: VICR) today reported financial results for the second quarter ended June 30, 2025. These results will be discussed later today at 5:00 p.m. Eastern Time, during management’s quarterly investor conference call. The details for the call are below.

Product revenues, licensing income and a patent litigation settlement for the second quarter ended June 30, 2025 totaled $141.0 million, a 64.3% increase from $85.9 million for the corresponding period a year ago, and a 50.1% sequential increase from $94.0 million in the first quarter of 2025.

Gross margin increased to $92.1 million for the second quarter of 2025, compared to $42.8 million for the corresponding period a year ago, and increased sequentially from $44.4 million for the first quarter of 2025. Gross margin, as a percentage of revenue, increased to 65.3% for the second quarter of 2025, compared to 49.8% for the corresponding period a year ago, and increased from 47.2% for the first quarter of 2025. Operating expenses increased to $46.7 million for the second quarter of 2025, compared to $42.6 million for the corresponding period a year ago, and increased sequentially from $44.5 million for the first quarter of 2025.

Net income for the second quarter was $41.2 million, or $0.91 per diluted share, compared to a net loss of ($1.2) million or ($0.03) per diluted share, for the corresponding period a year ago and net income of $2.5 million, or $0.06 per diluted share, for the first quarter of 2025.

Cash flow from operations totaled $65.2 million for the second quarter, compared to cash flow from operations of $15.6 million for the corresponding period a year ago, and cash flow from operations of $20.1 million in the first quarter of 2025. Capital expenditures for the second quarter totaled $6.2 million, compared to $6.1 million for the corresponding period a year ago and $4.6 million for the first quarter of 2025. Cash and cash equivalents as of June 30, 2025 increased 14.3% sequentially to approximately $338.5 million compared to approximately $296.1 million as of March 31, 2025.

Backlog for the second quarter ended June 30, 2025 totaled $155.2 million, a 0.9% increase from $153.8 million for the corresponding period a year ago, and 9.6% sequential decrease from $171.7 million at the end of the first quarter of 2025.

Commenting on second quarter performance, Chief Executive Officer Dr. Patrizio Vinciarelli stated: “Having brought to fruition our first ITC action with cease-and-desist and exclusion orders, we are pursuing additional actions to curtail importation into the US of infringing power and computing systems sourced from contract manufacturers by unlicensed OEMs and Hyper-scalers.”

“As importantly, we are bringing to fruition high performance ChiPs and 2^nd gen VPD for AI applications, which should increase product revenues and utilization of our first ChiP fab. Total revenues and margins will thus reflect many patented innovations in the state of the art of high density power systems.”

For more information on Vicor and its products, please visit the Company’s website at www.vicorpower.com.

Earnings Conference Call

Vicor will be holding its investor conference call today, Tuesday, July 22, 2025 at 5:00 p.m. Eastern Time. Vicor encourages investors and analysts who intend to ask questions via the conference call to register with Notified, the service provider hosting the conference call. Those registering on Notified’s website will receive dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Registration may be completed at any time prior to 5:00 p.m. on July 22, 2025. For those parties interested in listen-only mode, the conference call will be webcast via a link that will be posted on the Investor Relations page of Vicor’s website prior to the conference call. Please access the website at least 15 minutes prior to the conference call to register and, if necessary, download and install any required software. For those who cannot participate in the live conference call, a webcast replay of the conference call will also be available on the Investor Relations page of Vicor’s website.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and, the words “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” “assumes,” “may,” “will,” “would,” “should,” “continue,” “prospective,” “project,” and other similar expressions identify forward-looking statements. Forward-looking statements also include statements regarding bookings, shipments, revenue, profitability, targeted markets, increase in manufacturing capacity and utilization thereof, future products and capital resources. These statements are based upon management’s current expectations and estimates as to the prospective events and circumstances that may or may not be within the company’s control and as to which there can be no assurance. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors, including those economic, business, operational and financial considerations set forth in Vicor’s Annual Report on Form 10-K for the year ended December 31, 2024, under Part I, Item I — “Business,” under Part I, Item 1A — “Risk Factors,” under Part I, Item 3 — “Legal Proceedings,” and under Part II, Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” The risk factors set forth in the Annual Report on Form 10-K may not be exhaustive. Therefore, the information contained in the Annual Report on Form 10-K should be read together with other reports and documents filed with the Securities and Exchange Commission from time to time, including Forms 10-Q, 8-K and 10-K, which may supplement, modify, supersede or update those risk factors. Vicor does not undertake any obligation to update any forward-looking statements as a result of future events or developments.

Vicor Corporation designs, develops, manufactures, and markets modular power components and complete power systems based upon a portfolio of patented technologies. Headquartered in Andover, Massachusetts, Vicor sells its products to the power systems market, including enterprise and high performance computing, industrial equipment and automation, telecommunications and network infrastructure, vehicles and transportation, and aerospace and defense electronics.

For further information contact:

James F. Schmidt, Chief Financial Officer
Office: (978) 470-2900
Email: invrel@vicorpower.com

VICOR CORPORATION

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(Thousands except for per share amounts)

QUARTER ENDED

YEAR ENDED

(Unaudited)

JUN 30,

2025

2024

2025

2024

Product revenue

$

85,693

$

76,583

$

168,899

$

152,275

Royalty revenue

10,353

9,271

21,115

17,451

Patent litigation settlement

45,000

–

45,000

–

Total product revenue, royalty revenue and patent litigation settlement

141,046

85,854

235,014

169,726

Cost of product revenues

48,918

43,083

98,521

81,832

Gross margin

92,128

42,771

136,493

87,894

Operating expenses:

Selling, general and administrative

27,952

23,318

53,089

49,317

Research and development

18,791

16,939

38,168

34,978

Litigation-contingency expense

–

2,300

–

19,500

Total operating expenses

46,743

42,557

91,257

103,795

Income (loss) from operations

45,385

214

45,236

(15,901

)

Other income (expense), net

3,657

2,807

6,791

5,531

Income (loss) before income taxes

49,042

3,021

52,027

(10,370

)

Less: Provision for income taxes

7,842

4,216

8,266

5,287

Consolidated net income (loss)

41,200

(1,195

)

43,761

(15,657

)

Less: Net income attributable to

noncontrolling interest

8

1

30

12

Net income (loss) attributable to

Vicor Corporation

$

41,192

($

1,196

)

$

43,731

($

15,669

)

Net income (loss) per share attributable

to Vicor Corporation:

Basic

$

0.92

$

(0.03

)

$

0.97

$

(0.35

)

Diluted

$

0.91

$

(0.03

)

$

0.97

$

(0.35

)

Shares outstanding:

Basic

45,007

44,855

45,112

44,686

Diluted

45,077

44,855

45,286

44,686

VICOR CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEET
(Thousands)


	JUN 30,			DEC 31,
		2025			2024
	(Unaudited)			(Unaudited)
Assets

Current assets:
Cash and cash equivalents	$	338,541		$	277,273
Accounts receivable, net		55,085			52,948
Inventories		95,493			106,032
Other current assets		25,662			26,781
Total current assets		514,781			463,034

Long-term deferred tax assets		281			261
Long-term investment, net		2,584			2,641
Property, plant and equipment, net		154,285			152,705
Other assets		21,578			22,477

Total assets	$	693,509		$	641,118

Liabilities and Equity

Current liabilities:
Accounts payable	$	16,805		$	8,737
Accrued compensation and benefits		13,351			10,852
Accrued expenses		3,351			6,589
Accrued litigation		27,563			26,888
Sales allowances		2,639			1,667
Short-term lease liabilities		1,699			1,716
Income taxes payable		2,926			59
Short-term deferred revenue and customer prepayments		5,506			5,312

Total current liabilities		73,840			61,820

Long-term income taxes payable		4,809			3,387
Long-term lease liabilities		5,994			5,620
Total liabilities		84,643			70,827

Equity:
Vicor Corporation stockholders’ equity:
Capital stock		420,385			408,187
Retained earnings		346,534			302,803
Accumulated other comprehensive loss		(1,291	)		(1,495	)
Treasury stock		(157,033	)		(139,424	)
Total Vicor Corporation stockholders’ equity		608,595			570,071
Noncontrolling interest		271			220
Total equity		608,866			570,291

Total liabilities and equity	$	693,509		$	641,118

MIL-OSI USA: Burlison Opens Subcommittee Hearing on Advancing Nuclear Energy

Source: United States House of Representatives – Representative Eric Burlison (R-Missouri 7th District)

WASHINGTON—Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs Chairman Eric Burlison (R-Mo.) delivered opening remarks at today’s hearing on “The New Atomic Age: Advancing America’s Energy Future.” In his opening statement, Subcommittee Chairman Burlison highlighted President Trump’s actions to boost American energy production and Congressional action to reinvigorate the nuclear industry. Subcommittee Chairman Burlison also noted the efficiency and cost of nuclear energy emphasized the importance discovering new pathways to solving domestic energy challenges.

VIDEO: Opening Remarks

Below are Subcommittee Chairman Burlison’s prepared remarks:

A new age for nuclear power has started—led by President Trump’s four recent executive orders on nuclear energy and Congressional action to reinvigorate the nuclear industry.

President Trump’s orders call for permitting reform and the reduction of overburdensome regulations from the Nuclear Regulatory Commission, which has become a slow-moving, bureaucratic mess, constraining and delaying expansion of U.S. nuclear power deployment for decades.

Under President Trump’s orders, the NRC must rule on reactor license applications within 18 months—a dramatic shift from the ambiguous, open-ended timelines of the past.

President Trump’s orders also promote expanding domestic mining, enrichment of uranium and other reactor fuels, and nuclear-fuel recycling.

These ground-breaking actions will power United States energy independence and provide a secure and reliable U.S. electrical grid—something we must obtain as the AI revolution places surging demands on our. electrical capacity.

At the heart of nuclear power’s resurgence are two key innovations: small and micro modular reactors.

These new reactors promise the U.S. will have a strong answer to future energy demands.

They will be more capital-effective, more efficient, and more scalable for both on and off-grid sites here in the United States.

Moreover, they offer enhanced safety features, eliminate the risk of meltdowns, and can use recycled fuel from other reactors.

The Department of Energy predicts that 12 percent of electricity consumption in the United States in 2028 will come from data centers, which require constant and consistent electricity.

And the Energy Information Agency recently projected that U.S. power consumption will reach all-time highs this year and next, in part due to AI and data-center demand.

Nuclear power is the answer to data centers’ growing appetite for stable energy.

I recently toured two prototype micro modular reactors being developed here in the United States.

I can confidently say the technology is ready—what is holding nuclear back is the onerous and capital-intensive regulatory permitting burden placed on nuclear energy expansion.

Under the Trump Administration, the federal government is waking up to the roadblock that nuclear power has faced for decades.

The federal government, not technology, has been in the way.

Congress should and will be watching for the fruits of the Administration’s actions, eager to cooperate in achieving lasting change.

Nuclear power in the age of SMRs and MMRs isn’t just safe—it’s essential.

It is our best shot at securing clean, reliable, American energy independence.

MIL-OSI USA: Warner & Colleagues Demand Answers from Delta on Use of AI to Set Individualized Ticket Prices

US Senate News:

Source: United States Senator for Commonwealth of Virginia Mark R Warner

WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA) along with his colleagues Sens. Ruben Gallego (D-AZ) and Richard Blumental (D-CT) led their colleagues in demanding answers from Delta Air Lines CEO Ed Bastian after the company announced that it plans to ramp up its use of Artificial Intelligence to set surveillance-based ticket prices.

“Individualized pricing, or surveillance-based price setting, eliminates a fixed or static price in favor of prices that are tailored to an individual consumer’s willingness to pay. Delta’s current and planned individualized pricing practices not only present data privacy concerns, but will also likely mean fare price increases up to each individual consumer’s personal “pain point” at a time when American families are already struggling with rising costs,” wrote the senators. “The technology making that determination is trained using “all the data we can get our hands on” according to Fetcherr CEO Roy Cohen, and the company’s website claims that AI adoption and usage could increase aviation industry profits by up to $4.4 trillion annually.”

“The implications for individual consumer privacy are severe on their own. Surveillance pricing has been shown to utilize extensive personal information obtained through a variety of thirdparty channels, including data about a passenger’s purchase history, web browsing behavior, geolocation, social media activity, biometric data, and financial status,” they continued. “Former FTC Chair Lina Khan has cautioned against a particularly egregious but conceivable example of an airline using AI to charge a higher fare to a passenger ‘because the company knows that they just had a death in the family and need to fly across the country.’”

In the letter, the senators demanded answers on the company’s plans to protect Americans from pricing discrimination. They also requested answers to a series of questions around the types and sources of data Delta will use to train this AI system, how many passengers and which routes will be impacted, and what steps the company has taken to ensure compliance will follow all applicable federal and state laws.

The full text of the letter is available here.

MIL-OSI Africa: Fostering Digital Villages Initiative showcases innovation at agricultural shows in Zimbabwe

Source: APO

The Food and Agriculture Organization of the United Nations (FAO) in collaboration with the Mhondoro-Ngezi District Agricultural Show Society, successfully hosted a ‘Digital Fair’ in the Mashonaland West Province in Zimbabwe. The Digital Fair was held under the auspices of the Fostering Digital Villages Initiative (FDiVi).

This strategic blending of digital innovation with traditional agricultural exhibitions marks a significant step in Zimbabwe’s journey towards agrifood systems transformation as it showcases tools and services that significantly improves the efficiency and effectiveness of agricultural practices.

The event served as a dynamic platform to introduce digital service providers to rural communities, enabling farmers, youth, and local leaders to explore and evaluate digital tools tailored for agricultural productivity and rural development. The digital fair is part of the broader global FAO Digital Villages Initiative, which aims to transform agrifood systems in rural Malawi, Rwanda, and Zimbabwe using effective digital technologies, including artificial intelligence.

Digital Fairs are platforms for raising awareness as well as conduits for digital literacy for rural communities on one hand and rural market entry points for digital service providers, innovators and entrepreneurs.

“Collaborating with Agricultural Show Societies is a step in the right direction. The success of the digital fair in the Mhondoro-Ngezi where we partnered the Mhondoro-Ngezi District Agricultural Society sets the stage for future integration of digital fairs into national and sub-national agricultural shows, amplifying outreach and fostering inclusive access to innovation,” said Patrice Talla, FAO Subregional Coordinator for Southern Africa and Representative to Zimbabwe.

“This approach aligns with Zimbabwe’s broader goals for sustainable agriculture, youth empowerment, and rural development, and is more sustainable,” added Talla.

“The Venice Digital Fair has been overwhelmingly welcomed by the Mhondoro-Ngezi farmers, extension staff and stakeholders, with a lot of interest shown on the services that were being exhibited. We wish to continue to synchronize our future agricultural shows with these digital fairs as this has shown a positive impact on attendance, knowledge sharing and exchange.” said Spiwe Goto an extension officer with the Ministry of Lands, Agriculture, Fisheries, Water and Rural Development.

The digital fair brought together a wide range of stakeholders, including Government officials; digital service providers; local traditional leaders and community members; and youth organizations, rural development groups, and digital champions.

“I have learnt a lot through being part of this initiative. Digital innovation isn’t just for urban centres. It’s for every farmer, every youth, and every rural entrepreneur ready to grow. We’re building bridges between technology and tradition,” Maria Chinyoka a Digital Champion trained under the FDiVi project who is also the Kushinga farmer group leader.

The Digital Fair delivered tangible results, reinforcing the value of integrating digital innovation into Zimbabwe’s agrifood systems. The digital fair contributed to increased awareness of digital tools among rural stakeholders, showcasing their potential to drive agricultural productivity and rural transformation. It also strengthened engagement between digital innovators and grassroots communities, fostering collaboration and knowledge exchange.

“These series of Fairs are a vital bridge between us as digital innovators and grassroot communities that we often overlook in tech-driven agriculture” said Tafadzwa Chikwereti (Co-founder of eAgro).

“As a financial institution, we witnessed opportunities for our company to penetrate the under-banked community. We will be partnering with local agents to offer our micro-finance services,” Kanukai Madende the Managing Director of Village Finance.

The digital fair enhanced the visibility of digital solutions within sub-national agricultural platforms, laying the groundwork for broader adoption and policy integration. FAO remains committed to supporting Zimbabwe’s digital transformation journey, ensuring that no community is left behind in the pursuit of modern, resilient, and inclusive agrifood systems.

Distributed by APO Group on behalf of Food and Agriculture Organization of the United Nations (FAO): Regional Office for Africa.

Media files

.

MIL OSI Africa –

MIL-OSI USA News: Fact Sheet: The United States and Indonesia Reach Historic Trade Deal

Source: US Whitehouse

DELIVERING ON RECIPROCAL TRADE: President Donald J. Trump announced a landmark trade deal with Indonesia that will provide Americans with market access in Indonesia once considered impossible and unlock major breakthroughs for America’s manufacturing, agriculture, and digital sectors.

Under this deal, Indonesia will pay the United States a reciprocal tariff rate of 19%.
The key terms of the U.S.-Indonesia Agreement on Reciprocal Trade will include:
- Eliminating Tariff Barriers: Indonesia will eliminate tariff barriers, on a preferential basis, on over 99% of U.S. products exported to Indonesia across all sectors, including for all agricultural products, health products, seafood, information and communications technology, automotive products, and chemicals, which will create commercially meaningful market access opportunities for the full range of U.S. exports, supporting high-quality American jobs.
- Breaking Down Non-Tariff Barriers for U.S. Industrial Exports: Indonesia will address a range of non-tariff barriers, including by: (1) exempting U.S. companies and originating goods from local content requirements; (2) accepting vehicles built to U.S. federal motor vehicle safety and emissions standards; (3) accepting FDA certificates and prior marketing authorizations for medical devices and pharmaceuticals; (4) exempting U.S. exports of cosmetics, medical devices, and other manufactured goods from burdensome certification and labeling requirements; (5) removing import restrictions or licensing requirements on U.S. remanufactured goods and their parts; (6) eliminating pre-shipment inspection or verification requirements on imports of U.S. goods; (7) adopting and implementing good regulatory practices; (8) taking steps to resolve many long-standing intellectual property issues identified in USTR’s Special 301 Report; and (9) addressing U.S. concerns with conformity assessment procedures.
- Breaking Down Non-Tariff Barriers for U.S. Agriculture Exports: Indonesia will address and prevent barriers to U.S. agricultural products in the Indonesian market, including by: (1) exempting U.S. food and agricultural products from all of Indonesia’s import licensing regimes including its commodity balance policy; (2) ensuring transparency and fairness with respect to geographical indications (GIs) including meats and cheeses; (3) providing permanent Fresh Food of Plant Origin (FFPO) designation for all applicable U.S. plant products; and (4) recognizing U.S. regulatory oversight, including listing of all U.S. meat, poultry, and dairy facilities and accepting certificates issued by U.S. regulatory authorities.
- Strengthening Rules of Origin: The United States and Indonesia will negotiate facilitative rules of origin that ensure that the benefits from the agreement accrue to the United States and Indonesia, not third-countries.
- Removing Barriers for Digital Trade: The United States and Indonesia will finalize commitments on digital trade, services, and investment. Indonesia has committed to eliminate existing HTS tariff lines on “intangible products” and suspend related requirements on import declarations; support a permanent moratorium on customs duties on electronic transmissions at the World Trade Organization (WTO) immediately and without conditions; and take effective actions to implement the Joint Initiative on Services Domestic Regulation, including submitting its revised Specific Commitments for certification by the WTO. Indonesia will provide certainty regarding the ability to move personal data out of its territory to the United States through recognition of the United States as a country or jurisdiction that provides adequate data protection under Indonesia’s law. American companies have sought these reforms for years.
- Aligning on Economic Security: Indonesia has committed to join the Global Forum on Steel Excess Capacity and take effective actions to address global excess capacity in the steel sector and its impacts. The United States and Indonesia are committed to strengthening cooperation to increase supply chain resilience. This includes addressing duty evasion and cooperating on export controls and investment security. Indonesia will remove restrictions on exports to the United States for all industrial commodities, including critical minerals.
- Improving Labor Standards: Indonesia has committed to adopt and implement a forced labor import ban and remove provisions that restrict workers and unions from exercising freedom of association and collective bargaining rights.
- Notching Commercial Deals: The United States and Indonesia take note of commercial deals in the areas of agriculture, aerospace, and energy, which will further increase U.S. exports to Indonesia.
President Trump has delivered a forward-looking and tough trade deal that will benefit American workers, exporters, farmers, and digital innovators—this deal is what winning looks and will feel like for all Americans.

A DEFINED PATH FORWARD: In the coming weeks, the United States and Indonesia will memorialize the Agreement on Reciprocal Trade in order to lock in benefits for American businesses and workers.

The United States currently runs its fifteenth largest goods trade deficit with Indonesia.
- The U.S. total goods trade deficit with Indonesia was $17.9 billion in 2024.
- Before this deal, Indonesia’s simple average applied tariff was 8% while the U.S. average applied tariff was 3.3%.

LIBERATING AMERICA FROM UNFAIR TRADE PRACTICES: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged them for decades and contributed to our historic trade deficit.

On April 2, President Trump declared a national emergency in response to the large and persistent U.S. goods trade deficit caused by a lack of reciprocity in our bilateral trade relationships, unfair tariff and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption.
President Trump continues to advance the economic and national security interests of the American people by removing tariff and non-tariff barriers and expanding market access for American exporters.
Today’s announcement shows that America can defend its domestic production and strengthen its defense industrial base while obtaining expansive market access with our trading partners.

MIL-OSI USA: Rep. Young Kim’s ARMOR Act to Strengthen AUKUS Gains Momentum

Source: United States House of Representatives – Representative Young Kim (CA-39)

Washington, DC – Today, the House Foreign Affairs Committee passed out of markup the AUKUS Reform for Military Optimization and Review Act (ARMOR) Act (H.R. 4233), a bipartisan bill that would streamline and strengthen the Australia, United Kingdom, and United States (AUKUS) trilateral security partnership.

Watch Rep. Kim speak in support of the bill during the markup HERE.  

“Bureaucratic delays to the AUKUS agreement weaken our ability to counter threats and protect our national security,” said Congresswoman Kim. “The ARMOR Act expedites backlogs so that AUKUS can promote peace through strength and meet 21^st century threats head-on.”

AUKUS is a trilateral security pact between Australia, the United Kingdom, and the United States formed in 2021 to foster collaboration on advanced technologies like nuclear-powered submarines, AI, and hypersonic capabilities. There are two pillars of AUKUS: 

Pillar I is focused on helping Australia acquire nuclear-powered submarines.

Pillar II focuses on joint development and sharing of advanced technologies to boost military and defense capabilities. The ARMOR Act specifically relates to Pillar II.

Specifically, the ARMOR Act strengthens the expedited review process for AUKUS transfers, exports, and other activities involving advanced technologies and defense articles and services by:

Expanding the expedited licensing to include retransfers;

Removing the congressional notification requirement on certain AUKUS transfers;

Requiring a report on implementation of expedited review for export licenses; and,

Requiring an annual review of the Excluded Technology List to ensure the list is relevant and aligned with AUKUS goals.

Read more about the bill HERE and read the bill HERE.

MIL-OSI USA: Chairman Aguilar: Republicans spent the last six months putting more money in billionaires’ pockets and cutting health care

Source: US House of Representatives – Democratic Caucus

The following text contains opinion that is not, or not necessarily, that of MIL-OSI – July 22, 2025

WASHINGTON, D.C. — Today, House Democratic Caucus Chair Pete Aguilar, Vice Chair Ted Lieu and DCCC Chair Suzan DelBene held a press conference on Trump and Republicans’ One Big Ugly Law raising health care costs while sinking Republican chances of holding on to the House.

CHAIRMAN AGUILAR: Good morning. Grateful to be joined today by DCCC Chair, Suzan DelBene and the Vice Chair, Ted Lieu. At the DCCC today, we had a productive Caucus meeting across the street. Donald Trump promised to lower costs on day one. We’re six months into this Trump Administration, and prices are rising because of reckless tariffs, inflation is still too high and now health care costs are going to skyrocket. For the 24 million Americans who rely on the Affordable Care Act, health insurance will go up by as much as 75 percent. And these price hikes don’t even include the tax credits that Republicans are going to let expire, so even more Americans are going to see higher costs and could lose their health care coverage. Democrats have been warning about the dangers of the Republican cuts to Medicaid leading to higher prices for everyone. The American people were told that Donald Trump and Republicans were going to turn the economy around and prioritize families. But that couldn’t be further from the truth: they’ve spent the last six months putting more money in billionaires’ pockets and cutting health care. But they did make private jets tax deductible, so there’s that. They’re even shielding Jeffrey Epstein and his associates—including the President of the United States—from accountability, despite promising for years to release the files that implicate those involved. At a time when family budgets are stretched thin, Republicans are only prioritizing the needs of billionaires. It’s not just bad policy that will make the economy worse, it’s a slap in the face to working people who voted to bring down costs. Now, I’ll introduce Vice Chair Ted Lieu.

VICE CHAIR LIEU: Thank you, Chairman Aguilar. This morning, I went on this interesting website called HouseRepublicanPriceHike.com. And if you go on that website, you can see the increases in grocery prices starting from the beginning of this year. Beef prices, for example, are at an all-time high. Donald Trump promised that he was going to lower inflation on day one. He lied. Inflation has continuously increased. The most recent report has inflation increasing above expectations to 2.7 percent. Core CPI increased even more to 2.9 percent. And what are Congressional Republicans doing? Nothing. In fact, it’s even worse than that. They are actually ending this week early because they’re afraid to cast votes on the Jeffrey Epstein issue.

The Rules Committee is not meeting because they’re afraid to cast votes to release the Epstein files. So you’ve got this Epstein issue affecting Congressional operations and making sure that the Congressional Republicans don’t work on trying to lower costs. So this is an epic cover-up, right? This is a cover-up of epic proportions, where you’ve got the majority party literally having us leave Congress early, and not having the Rules Committee meet, because they don’t want to deal with releasing the Epstein files. We should release the Epstein files. It is what Donald Trump campaigned on. It’s what Attorney General Pam Bondi talked about this February when she said that Epstein’s client list was, ‘sitting on my desk right now.’ Why don’t we have that client list? And these are the questions the American people keep asking, and the story is not going to go away. Because at its core, this is an issue about underage women who were sexually abused and assaulted. Attorney General Pam Bondi should not be protecting Jeffrey Epstein’s legacy, nor his clients, nor should Congressional Republicans be doing the same. With that, it is my honor to introduce our amazing field general for the DCCC, Congresswoman Suzan DelBene. She’s done a fantastic job, and she’s going to discuss what we talked about this morning.

DCCC CHAIR DELBENE: Thanks Vice Chair Lieu and Chairman Aguilar. Good morning, everyone. This morning, in Caucus, we presented how we’re holding House Republicans accountable for their disastrous agenda and our path to retake the majority. We hear over and over and over again from people back home that the top issue for them is affordability and lowering costs—lowering costs for everyday goods. By all accounts, Republicans have failed miserably in the time that they’ve had the trifecta. Prices are still rising, whether it’s housing, health insurance premiums or everyday things like food and groceries. Republicans broke their promise to lower costs. Their Big Ugly Law is just another broken promise. It rips coverage away from millions of people and will raise health care bills for everyone, regardless of what kind of insurance that they have, and it takes food off the table from hungry families and children. It guts funding for rural hospitals and increases ER wait times. Energy bills will go up for families across the country. Republicans did all of this to pay for tax breaks for the wealthiest few. Their agenda is cruel, it’s extreme and an absolute disaster, and the American people agree.

In poll after poll, we see that the Republicans’ bill is massively unpopular. The more people learn about it, the more they oppose it. The one lie Republicans keep telling themselves is that voters won’t punish them in the midterms because the American people won’t feel the pain of the cuts until after the election. Aside from the fact that this is exactly the kind of insincere political gamesmanship the public hates, it’s also not true. In a matter of months, millions of people will see their health insurance costs go up by an average of 75 percent—rural hospitals are already announcing they’ll close down and cut services. So no matter how many legislative games that Republicans try to play, there’s no hiding from the facts—the Big Ugly Law will have devastating consequences that will absolutely be felt by working families.

Republicans are poised to lose the majority next year, and they know it. You can tell by the way they’re behaving. They avoid in-person town halls because they’re afraid to face the public when they have to talk about their Big Ugly Bill. House Republicans are headed for the exits. We already have three vulnerable Republicans decide to retire or not run for re-election because they know they’re not going to take the majority. And we know there are more with one foot out the door, who may soon announce that they won’t seek re-election. So in these last six months, Republicans have broken promise after promise, feeding into a larger narrative that reminds everyone that they don’t work for the American people—they work for the elite, the powerful and the billionaires. It’s a theme we hear on the ground day after day, and if House Republicans would take the time to listen to their constituents back home, instead of only working and waiting for Donald Trump to tell them what to do, they would know. But instead, they blindly follow his orders that are hurting our economy and hitting the American families in their pocketbooks, and that’s why they’ll lose the majority.

House Democrats will hold every single vulnerable Republican accountable for their betrayal against their communities when they supported the Big Ugly Bill. We have the better message, we have stronger candidates and public sentiment is on our side. And next year, we’ll have the gavels. Thank you and I’ll turn it back to the Chairman.

Video of the full press conference and Q&A can be viewed here.

###

MIL-OSI United Nations: Programme Management Officer, P-4

Source: UNISDR Disaster Risk Reduction

Apply here

Org. Setting and Reporting

Created in December 1999, the United Nations Office for Disaster Risk Reduction (UNDRR) is the designated focal point in the United Nations system for the coordination of efforts to reduce disasters and to ensure synergies among the disaster reduction activities of the United Nations and regional organizations and activities in both developed and less developed countries. Led by the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction (SRSG), UNDRR has over 140 staff located in its headquarters in Geneva, Switzerland, and in regional offices. Specifically, UNDRR guides, monitors, analyses and reports on progress in the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030, supports regional and national implementation of the Framework and catalyzes action and increases global awareness to reduce disaster risk working with UN Member States and a broad range of partners and stakeholders, including civil society, the private sector, parliamentarians and the science and technology community.

This position is located in the UNDRR Office in Bonn, Germany. The Programme Officer will report to the Head of the UNDRR Bonn Office under the overall guidance of the Chief, Risk Knowledge, Monitoring and Capacity-Development Branch.

Responsibilities

Within delegated authority, the incumbent will be responsible for the following duties: –

Develops, implements and evaluates assigned systems programmes/projects of significant importance for the Department; monitors and analyses programme/project development and implementation; reviews relevant documents and reports; identifies problems and issues to be addressed and initiates corrective actions; liaises with relevant parties; ensures follow-up actions. In particular, oversees and supports the management and updating of the online monitoring system to track progress in the implementation of the Sendai Framework for Disaster Risk Reduction. Tracks and monitors project progress against plan, requirements, quality measures, standard processes; liaises with users on all aspects and during all phases.
Provides expert advice on complex systems analysis and design; identifies the need for new systems (or modifications to existing systems) or responds to requests from users; develops plans for feasibility assessment, requirements specification, design, development and implementation, including project plans, schedules, time and cost estimates, metrics and performance measures. –
Provides expert advice and coordinates the roll-out of the Disaster Tracking System in all Member States, liaising with the concerned regional offices. Keeps abreast of developments in the field and determines the need for testing and evaluating new products and technologies. –
Leads and coordinates the official reporting on Sendai Framework and SDGs, among others, and organizes and prepares written outputs, e.g. draft background papers, analysis, sections of reports and studies, inputs to publications, technical reports, including advance analytics using AI-based tools.
Develops, implements and monitors application of standards and guidelines. Oversees the preparation of technical and user documentation for systems; prepares training materials and detailed technical presentations including technical guidelines to support the reporting against the indicators to assess progress towards the targets of Sendai Framework, as recommended by the open-ended intergovernmental expert working group on indicators and terminology. Works in close collaboration with the UNDRR Global Education and Training Institute (GETI) in Incheon and contributes to the development of training modules on Sendai Framework Monitoring Process. Collaborates and coordinates closely with UNDRR Regional Offices in support of strengthening the capacity of Member States to use the online Sendai Framework Monitoring system and their ability to report against the indicators. –
Provides substantive backstopping to consultative and other meetings, conferences, etc., to include proposing agenda topics, identifying participants, preparation of documents and presentations, etc. –
Participates in planning and preparation of the budget, work program and spending plan of the Section and of the Branch. Contributes to activities related to budget funding (programme/project preparation and submissions, progress reports, financial statements, etc.) and prepares related documents/reports (pledging, work programme, programme budget, etc.). Develops cost proposals for contractual services, oversees the technical evaluation of proposals received and manages the contract service. Provides professional leadership and work direction to assigned project team, and/or mentor and supervises the work of new/junior officers, contract staff, etc. – Performs other duties as required.

Competencies

Professionalism: Knowledge and understanding of theories, concepts and approaches relevant to particular sector, functional area or other specialized field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. Planning & Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently.

Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.

Client Orientation: Considers all those to whom services are provided to be “clients” and seeks to see things from clients’ point of view; establishes and maintains productive partnerships with clients by gaining their trust and respect; identifies clients’ needs and matches them to appropriate solutions; monitors ongoing developments inside and outside the clients’ environment to keep informed and anticipate problems; keeps clients informed of progress or setbacks in projects; meets timeline for delivery of products or services to client.

Education

An advanced university degree (Master’s degree or equivalent degree) in social sciences, management, economics, statistics or a related field is required. A first-level degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced degree.

Work experience

A minimum of seven years of progressively responsible experience in project planning, implementation and monitoring or a related area is required.
Experience in disaster risk assessment and monitoring, and disaster risk reduction is required.
Experience in data management and statistics is desirable.

Languages

English and French are the working languages of the United Nations Secretariat. For the position advertised, fluency in English is required. Knowledge of French is desirable. Knowledge of another UN official language is desirable.

Assessment

Evaluation of qualified candidates may include an assessment exercise which will be followed by a competency-based interview.

Special notice

The appointment or assignment and renewal thereof are subject to the availability of the post or funds, budgetary approval or extension of the mandate. At the United Nations, the paramount consideration in the recruitment and employment of staff is the necessity of securing the highest standards of efficiency, competence and integrity, with due regard to geographic diversity. All employment decisions are made on the basis of qualifications and organizational needs. The United Nations is committed to creating a diverse and inclusive environment of mutual respect. The United Nations recruits and employs staff regardless of gender identity, sexual orientation, race, religious, cultural and ethnic backgrounds or disabilities. Reasonable accommodation for applicants with disabilities may be provided to support participation in the recruitment process when requested and indicated in the application. The United Nations Secretariat is committed to achieving 50/50 gender balance and geographical diversity in its staff. Female candidates are strongly encouraged to apply for this position. In line with the overall United Nations policy, the UN Office for Disaster Risk Reduction encourages a positive workplace culture which embraces inclusivity and leverages diversity within its workforce. Measures are applied to enable all staff members to contribute equally and fully to the work and development of the organization, including flexible working arrangements, family-friendly policies and standards of conduct. Individual contractors and consultants who have worked within the UN Secretariat in the last six months, irrespective of the administering entity, are ineligible to apply for professional and higher, temporary or fixed-term positions and their applications will not be considered.

United Nations Considerations

According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General. Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

Apply here

MIL OSI United Nations News –

MIL-OSI Economics: Windows 11 is the home for AI on the PC, with more experiences available today

Source: Microsoft

Headline: Windows 11 is the home for AI on the PC, with more experiences available today

AI is changing the way we use our PCs. According to a new consumer AI report commissioned by Microsoft, nearly 60% of people report using generative AI for work and business purposes in the past year. Even more (64%) report using AI for hobbies and personal interests like art, music and DIY projects.

As the world adapts to this new era of AI infused with daily life, Windows is here to meet you where you are, with intuitive experiences built in to make what you already do on your PC even easier.

Windows 11 is the home for AI, offering the most expansive and capable AI experiences for consumers today on Copilot+ PCs—with exclusive AI superpowers like Recall (preview), Click to Do (preview) and improved Windows search, as well as groundbreaking new ways to interact with your PC, like Copilot Vision on Windows, all available now.

Today, we continue to make new experiences generally available for Windows 11 and Copilot+ PC users that make Windows more intuitive, more accessible and ultimately more useful.

Read on to discover what’s available and how to get started using these experiences today.

Changing Windows Settings has never been easier, with Windows’ first agent

It’s never been easier to adjust your settings in Windows. Now on Copilot+ PCs, you can use your own words in the settings search box to describe something you’d like to change, and instantly get recommendations, including actions to adjust the relevant setting with one click.

This is made possible through the new agent in Settings, Windows’ first agent optimized for Copilot+ PCs.

Hundreds of settings across displays, connectivity, accessibility and much more are now customizable through the agent in Settings, with the ability to enable or undo any setting you change.

To use the agent in Settings:

Open Settings from the Taskbar or Start Menu
Type in the Settings search box what you want to change using your own words, such as “I want to enable quiet hours” or “connect Bluetooth device.” For some settings, you can even make specific requests, such “change my resolution to 1920×1080.”
If the agent can make the change, it will offer an option to complete the action to change the setting, as well as an option to undo any setting you change.
When settings are unable to be adjusted by the agent, improved Windows search will surface relevant settings to help you get closer to what you’re looking for, faster.

The agent in Settings begins to become available starting today for Windows customers using English on Snapdragon-powered Copilot+ PCs, with availability on Intel and AMD devices coming at a later dateⁱ.

Learn more about how you can use Settings agent and other Windows features like Copilot Vision on Windows to troubleshoot your PC.

Do even more with Click to Do (preview)

Click to Do keeps you in the flow to get things done faster, providing contextual actions to text and images on your screen.

After invoking Click to Do, relevant text or visual actions will appear that include the ability to prompt Copilot, search the web, create bulleted lists, start a draft of a document or email, or even schedule a Teams meeting—all without leaving your current window.

New actions available starting today includeⁱⁱ:

Practice in Reading Coachⁱⁱⁱ is a new Click to Do text action that helps you improve reading fluency and pronunciation. Select text on your screen, choose Practice in Reading Coach, and read the text aloud. Reading Coach gives you feedback and shows where to improve.
Read with Immersive Reader is a new text action in Click to Do that displays text in a focused, distraction-free environment. It helps improve reading and writing for all skill levels and abilities. You can adjust text size, spacing, font and background theme, have text read aloud, break words into syllables and highlight parts of speech. The picture dictionary shows images for unfamiliar words.
Draft with Copilot in Word^iv is a new text action enabling you to quickly turn any recognized text into a full draft. Whether it’s a sentence in an email or a snippet on your screen, press Win + Click on the recognized text, then select Draft with Copilot in Word. No more blank pages. No more writer’s block. Just momentum.
Click to Do now supports actions through Microsoft Teams. When you select an email address recognized by Click to Do on your screen, you can choose to send a Teams message or schedule a Teams meeting. These options make it easy to ask a question or set up time to talk without interrupting your workflow.

To get started with Click to Do:

Press the Windows key + mouse click, Windows key + Q, or access through the Start menu and Snipping Tool.
Click to Do also supports hardware-specific options like double clicking your pen on your pen-capable device or swiping from the right with your pen or finger on your touch screen.
Learn more about all the ways you can use Click to Do to get more done on your Copilot+ PC.

Photos relight brings professional lighting controls to your pictures

Relight in the Photos app brings professional lighting controls to your snapshots. Open any image in Photos, select Edit > Relight, and then click to place up to three virtual light sources around your subject.

Adjust each light’s intensity, color and position with simple sliders, or choose from built-in presets like “Studio Portrait” and “Cinematic Glow.”

To use relight in Photos:

Open the Photos app and select the image you want to relight.
Select Edit, then select Relight from the available options.
Choose one of the lighting presets, and optionally customize each light’s location, brightness, softness or color, and the overall intensity of the effect.

Learn more about tips to get the most out of your photos.

This feature is available now on Copilot+ PCs with Snapdragon X Series processors, with support for Copilot+ PCs powered by Intel and AMD coming soon.

Paint adds even more creative capabilities with sticker generator and object select

In May, we introduced multiple enhancements to elevate your creative experience, now available on Copilot+ PCs.

Sticker generator^v is a new AI-powered feature in Paint that lets you create custom stickers by simply typing a prompt. To get started, click on the Sticker generator button in the Copilot menu. From there, you can type in a description of the sticker you want to create, like “a cat wearing sunglasses,” and hit the Generate button.

Paint will then generate a set of unique stickers based on your prompt. Once the stickers are generated, you can click on any one of them to instantly apply it to your canvas, copy the sticker for use in other applications, or save it for later. To access your recently generated stickers, click on the new Stickers option in the Paint toolbar.

We’re also releasing object select, a smart selection tool that uses AI to help you isolate and edit individual elements in your image. To get started, click on the Object select tool in the toolbar and simply pinpoint specific elements on the canvas to select and make edits instantly.

To use the new updates in Paint:

Open the Paint app.
Explore the new welcome experience to learn more about features like Cocreator, generative erase, sticker generator, object select and Layers.
Try out the new sticker generator and object select features.

Be more productive with Snipping Tool perfect screenshot and color picker

Snipping Tool’s screen capture and perfect screenshot capturing a specific area of the screen.

We’ve also added two new features to Snipping Tool—perfect screenshot and color picker.

Perfect screenshot is a new AI-powered feature exclusive to Copilot+ PCs that allows you to precisely capture content on your screen with the Snipping Tool app without the need to crop or resize it post-capture.

To try Snipping Tool perfect screenshot:

Invoke the Snipping Tool capture toolbar from within the app or by using the Print Screen keyboard shortcut.
Select the Perfect screenshot button from the toolbar when in rectangle mode and start selecting a region of your screen.
Once activated, perfect screenshot will intelligently resize based on the content in your selection. You can also quickly enable perfect screenshot by holding the Ctrl keyboard shortcut after invoking Snipping Tool while selecting a region of your screen.
Move or edit the area before confirming your capture, ensuring you get the perfect screenshot every time!

For all Windows 11 PCs, we have also added the ability to easily identify and capture colors seen on your screen through the introduction of color picker. Color picker is great for anyone who might need to quickly match a color you see on your screen as part of a project—whether that be designers, developers or everyday color aficionados.

Snipping Tool’s color picker tool selecting a color on the screen to inspect.

To try color picker in Snipping Tool:

Invoke the Snipping Tool capture toolbar from within the app or by using the Print Screen keyboard shortcut.
Select Color picker from the toolbar and then inspect or select a color code on your screen, choosing from HEX, RGB or HSL values. Need to be more precise? You can zoom by scrolling in on your pointer or using by using the Ctrl +/- keyboard shortcuts.

Do more with Microsoft Copilot and Edge on Windows 11

Copilot Vision on Windows, now available in the U.S., is a new way to engage with your Windows 11 PC. When you enable it, it can see what you see on your device and talk to you about it in real time.

It acts as your second set of eyes, able to analyze content, help when you’re lost, provide insights and answer your questions as you go. Whether you’re browsing, working or deep in a project, Copilot Vision offers instant insights and answers.

And with Highlights, you can go a step further and ask Copilot “show me how” for a specific task and it will show you within the app you’re in where to click and what to do. On Windows, Copilot can help you navigate multiple apps at once, including your full desktop, serving as a true companion to help you accomplish any task.

To get started with Copilot Vision on Windows:

Open the Copilot app and click the glasses icon in your composer.
Select which browser window or app you want to share.
Ask Copilot to help with whatever you’re working on. To stop sharing, press ‘Stop’ or ‘X’ in the composer. It’s a fully opt-in experience that always puts you at the controls.

Microsoft Edge is also the only browser built for Windows, offering the most seamless PC browsing experience with AI-powered tools, productivity features, and built-in performance and security features that help you browse quickly and safely.

With features like Edge Game Assist, now available on Windows 11^vi, you can get tips and guides for many of the top PC games, easy access to essential sites like Discord, Spotify, and Twitch, and more — all right in your game.

To use Edge Game Assist, simply press Win+G to open Game Bar and start using Microsoft Edge for a seamless and immersive gaming experience.

Learn more about how you can get the most out of Edge on Windows.

Making the unexpected easier with faster recovery

Unexpected restarts are frustrating, that’s why starting today, people will begin to experience several improvements that make this experience quicker and more user friendly so you can pick up right where you left off.

With quick machine recovery, a new recovery mechanism for Windows 11 PCs, your PC will automatically detect and fix widespread issues during an unexpected restart using the Windows Recovery Environment (WinRE).

We’ve also streamlined the unexpected restart experience, reducing the time users spend on the screen from 40 seconds to just 2 seconds for most consumer devices on Windows 11, version 24H2.^vii

As part of these changes, we also made an update to how our interface appears during an unexpected restart, introducing a simplified user interface (UI) that pairs with the shortened experience to display a more readable layout while keeping the technical details visible.

Learn more about the changes to the unexpected restart experience here.

Move forward with Windows 11

From modern security to faster performance and the latest features and experiences, Windows 11 is built to help you work, play and create with ease. With support for Windows 10 ending on Oct. 14, 2025, we’re here to ensure your transition is smooth, secure and up to date.

We understand that moving to a new PC can take time, and we’re here to support you throughout the process. The Windows 10 Extended Security Updates (ESU) program is designed to keep your current Windows 10 PC protected after support ends—helping you stay secure during the transition.

Starting today, individuals will begin to see an enrollment wizard through notifications and in Settings, making it simple to select the best option for you and enroll in ESU directly from your personal Windows 10 PC.

Learn more about Windows 10 end of support and explore the tools and resources available to help you transition with confidence.

How to get these updates

Over the next month, we will be gradually rolling out several of these features via controlled feature rollout (CFR) to consumers. Some of these experiences are available today via this month’s Windows non-security preview update, as well as updates available in the Microsoft Store.

Consumers who would like to be among the first to experience new enhancements can simply go to Settings > Windows Update and turn on “Get the latest updates as soon as they’re available.” Then select “Check for updates” to download and install the most recent non-security preview release.

Ensure that Microsoft Paint, Photos and Copilot applications are updated to the latest versions available.

For a full list of features available via today’s Windows Update, learn more here.

End notes:

i Available now in most global markets on Copilot+ PCs with Snapdragon® X Series. Limited initially to English-language inputs. See aka.ms/copilotpluspcs processors.

ii These Click to Do actions are not available in the European Economic Area.

iii To use this feature, install the free Microsoft Reading Coach app from the Microsoft Store.

iv For “Draft with Copilot in Word” – a Microsoft 365 Copilot subscription is required.

v Optimized for English text prompts and requires a Microsoft account and internet connection to access cloud services that help ensure the responsible use of AI.

vi Game Assist is available where Edge is available. Enhanced game content is available English-only at this time. Game Assist experience may also vary depending on game and geography.

vii Source: Internal testing of Windows 11 memory dump write speed, October 2022.

MIL OSI Economics –

MIL-OSI Economics: Introducing Surface Laptop 5G: Seamless connectivity, built for business

Source: Microsoft

Headline: Introducing Surface Laptop 5G: Seamless connectivity, built for business

We’re excited to announce the expansion of our Surface Copilot+ PC portfolio for business customers. The new Surface Laptop 5G, 13.8-inch powered by Intel Core Ultra (Series 2) processors, will begin shipping Aug. 26, and the new Surface Laptop, 13-inch and Surface Pro, 12-inch are available starting today.[1]

AI is every organization’s competitive edge—but only when it’s accessible the moment it’s needed. Surface Laptop 5G delivers that advantage with a 40+ trillion operations per second (TOPS) Neural Processing Unit (NPU) that powers fast, on-device intelligence, making everyday workflows more intuitive and efficient. Whether it’s staying focused in meetings, finding and acting on information faster, or reducing routine tasks, AI accelerates what matters most. With an integrated 5G modem, users stay continuously connected to Microsoft 365 Copilot[2] and other cloud tools, enabling deeper insights and real-time collaboration.

Adding 5G to Surface Laptop has been one of the most requested features from our business customers. But the ask was never just about adding a modem—it reflected a deeper need to eliminate friction, with the ability to connect instantly, securely and reliably without worrying about signal strength or searching for a hotspot.

Meeting that need was the driving force behind the design of Surface Laptop 5G. We set out to build the best 5G-connected laptop—one where connectivity fades into the background. Whether you’re a consultant joining a Teams call on a train, a field engineer uploading site data from the field or a sales leader finishing a proposal in a hotel lobby, Surface Laptop 5G keeps business moving wherever work happens.

Surface Laptop 5G represents Microsoft’s end-to-end innovation in action. Hardware, software and cloud services come together to deliver intelligent, secure and connected experiences for today’s mobile workforce. The Surface for Business portfolio offers a complete solution for every user scenario, from tablet-first flexibility to high-performance laptops, all supported by Microsoft’s modern management and industry-leading security.

Engineered for seamless 5G performance

Adding 5G to Surface Laptop required more than just dropping in a modem. Every layer of Surface Laptop 5G was reengineered to deliver a seamless, reliable and secure experience, while preserving the design, performance and portability our customers expect.

Dynamic antenna system

At the heart of Surface Laptop 5G is a dynamic antenna system that continuously adapts to its environment. With six strategically placed antennas, the device automatically adjusts signal paths and power based on how it’s being held or used, ensuring strong, reliable connectivity exactly when and where it’s needed.[4] As users move between environments, the device seamlessly transitions between 5G and Wi-Fi networks, keeping a steady and secure connection to cloud-based apps, updates, and corporate resources. This innovative antenna design also enables Surface Laptop 5G to act as a mobile hotspot, securely sharing its 5G connection with other devices when Wi-Fi isn’t available.[3]

Thoughtfully designed hardware

Many laptops place antennas near the base, where signals are more likely to be blocked by objects or the user’s legs. Surface Laptop 5G was designed differently, with antennas strategically positioned higher on the device to reduce interference and maintain a strong, reliable and consistent connection.

This design required a new material, one that allows radio signals to pass through without impacting performance, while still delivering the durability, premium feel and lightness our customers are looking for. We developed a custom multi-layered laminate that meets all of these needs, enabling reliable 5G performance without compromising portability or design.

Surface Laptop 5G also includes both NanoSIM and eSIM options, integrated to preserve its slim profile while enabling global connectivity.[4] Weighing under 3 pounds, it is light and easy to carry across campuses, through airports or from meeting to meeting.

Tested for the real world

In Surface we don’t just simulate real-world use, we build for it. Surface Laptop 5G was tested in homes, apartments and active office environments replicating everyday scenarios. Moving between rooms, switching networks, multitasking and working from laps helped us fine-tune antenna placement, thermal performance and connectivity behavior to reflect how people actually work.

To ensure global performance, the 5G hardware was field-tested with over 100 mobile operators across more than 50 countries. The result is reliable 5G connectivity that travels with your workforce around the world.[5]

Secure and connected for smarter management

With support for 5G built-in, Surface Laptop devices stay continuously connected, enabling IT to deliver security updates, enforce policies and access real-time insights, from almost anywhere. This integration is possible because Surface is engineered in partnership with Windows and Intune, combining hardware, software and cloud-based management into a unified Microsoft solution.

IT can remotely deploy and manage eSIM profiles, allowing cellular connectivity to be preconfigured and pushed to enrolled Surface devices.⁶ Paired with Windows Autopilot, it enables a true zero-touch deployment experience where devices arrive fully configured, secured and ready to use.

The Surface Management Portal within the Intune Admin Center provides centralized visibility into device health, compliance and usage across the Surface fleet. Now with Security Copilot integrated, IT can act faster with AI-powered tools to detect issues, assess risk and respond with greater confidence.

For an extra layer of protection, the PanzerGlass Privacy Screen Protector helps safeguard on-screen information and can reduce the risk of visual data exposure when working in public spaces.[6]

Surface is where Microsoft’s hardware, software and cloud come together to deliver an experience that’s easy to manage, safe to deploy and ready for AI from day one.

A connected future, built for business

Surface offers powerful protection that safeguards your data and privacy while enabling your employees to achieve more.

Surface Laptop 5G joins a growing portfolio of Copilot+ PCs designed to meet the evolving needs of today’s workforce. With the Surface Pro for Business, 12-inch and Surface Laptop for Business, 13-inch now shipping, and Surface Laptop 5G arriving on Aug. 26, organizations have more choice than ever to modernize their device fleets with powerful, secure and AI-ready tools.

When paired with Verizon’s secure, reliable 5G network, Surface devices unlock even greater productivity. The combination of Surface Copilot+ PCs, Microsoft 365 Copilot and high-speed mobile connectivity enables a seamless experience that helps businesses work easier and efficiently, in the office or out in the field. In the U.S., Surface for Business devices are available through a broad network of partners, including Verizon Business, with selected Verizon stores rolling out in the coming months.

With support ending for Windows 10 PCs on Oct. 14, 2025, now is the time to begin the transition to a modern Windows experience—one that’s optimized for AI, secured by design and built for mobility.

To learn more about the new Surface Laptop 5G, Surface Pro, 12-inch and Surface Laptop, 13-inch visit Surface.com/Business to find an authorized reseller, or visit the Microsoft Store. When you shop at Microsoft.com, you’ll get free shipping and an extended 60-day price protection and return window. For a deeper technical dive, see the Surface IT Pro Blog.

[1] 5G will be available later in 2025 and only on specific SKUs of Surface Laptop for Business 13.8-inch | Intel, but not in all areas; compatibility and performance depends on carrier network, plan and other factors. See carrier for details and pricing.

[2] Per user license sold separately; also requires eligible Microsoft 365 plan.

[3] Mobile hotspot support may vary by country and/or carrier; additional fees may apply.

[4] eSIM support and availability may vary by carrier and country.

[5] Service availability and performance subject to service provider’s network. Contact your service provider for details, compatibility, pricing, SIM card and activation. See all specs and frequencies at surface.com. Availability of data plans for eSIM varies by market and by carrier.

[6] Sold separately.

MIL OSI Economics –

MIL-OSI Russia: Air India plane’s auxiliary power unit catches fire after landing

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People’s Republic of China – State Council News

NEW DELHI, July 22 (Xinhua) — An Air India passenger plane, flight AI-315, operating from Hong Kong to Delhi, caught fire in its auxiliary power unit shortly after landing at Indira Gandhi International Airport in New Delhi, the Indian capital, on Tuesday, officials said.

The fire was discovered as passengers were preparing to exit the plane.

Air India said no passengers or crew were injured, but the fire caused some damage to the aircraft itself.

Another Air India flight from Cochin to Mumbai skidded off the runway while landing on Monday, causing damage to both the plane and the road surface, according to media reports. Last month, an Air India flight to London crashed shortly after takeoff in the city of Ahmedabad, killing all 241 people on board. –0–

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

.

MIL OSI Russia News –

MIL-OSI USA: Hawley, Blumenthal Unveil Bipartisan Bill Empowering Working Americans to Sue Big Tech, AI Companies for Stealing Creative Works

US Senate News:

Source: United States Senator Josh Hawley (R-Mo)

Monday, July 21, 2025

Today, U.S. Senators Josh Hawley (R-Mo.) and Richard Blumenthal (D-Conn.) introduced bipartisan legislation to protect consumers’ data rights and hold Big Tech companies accountable for illegally pirating creators’ copyrighted works to train their artificial intelligence (AI) models.

Senator Hawley’s legislation follows his recent Senate Judiciary Subcommittee hearing where he sounded the alarm on AI companies’ willful engagement in “the largest intellectual property theft in American history.”

“AI companies are robbing the American people blind while leaving artists, writers, and other creators with zero recourse. It’s time for Congress to give the American worker their day in court to protect their personal data and creative works. My bipartisan legislation would finally empower working Americans who now find their livelihoods in the crosshairs of Big Tech’s lawlessness,” said Senator Hawley.

“This bill embodies a bipartisan consensus that AI safeguards are urgent—because the technology is moving at accelerating speed, and so are dangers to privacy. Enforceable rules can put consumers back in control of their data, and help bar abuses. Tech companies must be held accountable—and liable legally—when they breach consumer privacy, collecting, monetizing or sharing personal information without express consent. Consumers must be given rights and remedies—and legal tools to make them real—not relying on government enforcement alone,” Senator Blumenthal said.

Senators Hawley and Blumenthal have previously teamed up to put power back in the hands of users when it comes to Big Tech. Last Congress, they introduced a bipartisan framework to implement guardrails for AI that would protect consumers.

The AI Accountability and Personal Data Protection Act will:

Bar AI companies from stealing and training on copyright works. The bill safeguards individuals’ copyrighted materials from being used in AI training or AI-generated content without permission.
Create a federal tort for data misuse. The legislation allows individuals to sue any person or company that appropriates, uses, sells, or exploits their personal data or copyrighted works without clear, affirmative consent.
Provide transparency for creators. The bill requires companies to clearly disclose every third party that will access an individual’s data at the time consent is sought.
Ensure robust remedies. The legislation provides for stiff financial penalties, injunctive relief, and protects the ability of individuals to sue in court and join class actions.

Read the full bill text here.

MIL-OSI USA: Grothman, Dingell Reintroduce Bipartisan Dillon’s Law

Source: United States House of Representatives – Congressman Glenn Grothman (R-Glenbeulah 6th District Wisconsin)

Congressman Glenn Grothman (R-WI) and Congresswoman Debbie Dingell (D-MI) have reintroduced Dillon’s Law, a bipartisan bill that incentivizes states to empower “good Samaritans” to save lives in critical moments. The legislation encourages trained individuals to administer epinephrine in schools during emergencies. Currently, the administration of this medication is limited solely to trained school employees.

Dillon’s Law is named in honor of Dillon Mueller, a native of Mishicot, Wisconsin, who tragically passed away in 2014 at just 18 years old after being stung by a bee that resulted in an anaphylactic reaction. At the time of the incident, epinephrine was not readily available and accessible.

Several states, including Wisconsin, Minnesota, and Indiana, have enacted versions of Dillon’s Law with strong bipartisan support. While Congress passed a similar measure in 2013 to support epinephrine programs in schools, this legislation expands access further by allowing any trained individual to administer epinephrine in the event of an emergency.

MIL-OSI: Buffalo Run Casino & Resort Selects QCI Go to Empower Hosts and Enhance Guest Engagement

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, July 22, 2025 (GLOBE NEWSWIRE) — Buffalo Run Casino & Resort has chosen Quick Custom Intelligence’s (QCI) Go, a native mobile app designed specifically for casino hosts, to elevate host productivity and deliver a superior guest experience.

QCI Go provides hosts with powerful tools including player card scanning, real-time player lookup, seamless access to QCI Meet and QCI Events, and robust task management features—all in a user-friendly mobile interface. By putting these capabilities directly in the hands of hosts, QCI Go enables faster service, deeper guest relationships, and greater operational efficiency on the casino floor.

Mary Jewett, Vice President and General Marketing at Buffalo Run Casino & Resort, expressed excitement about the implementation:
“Bringing QCI Go to Buffalo Run Casino & Resort represents a significant advancement in how we empower our hosts to serve guests. With mobile access to key player information, events, and task management, our team can deliver personalized service in real time, enhancing both the guest experience and host effectiveness.”

Dr. Ralph Thomas, CEO of QCI, shared his perspective on the partnership:
“We are thrilled to deploy QCI Go at Buffalo Run Casino & Resort. By providing hosts with mobile access to the QCI platform, we enable them to deliver exceptional, timely service and foster stronger player relationships. This is a great example of how our mobile-first innovations help operators improve team productivity and guest satisfaction.”

QCI Go is part of Quick Custom Intelligence’s broader commitment to innovation in the gaming industry, providing operators with state-of-the-art tools that support host teams, streamline operations, and drive meaningful guest engagement.

ABOUT Buffalo Run Casino & Resort
Owned and operated by the Peoria Tribe of Indians of Oklahoma, Buffalo Run Casino & Resort is future-focused on a gaming entertainment experience that both excites and exceeds guest expectations. Maintaining its reputation for a clean and friendly environment, it empowers team members and continues to elevate hospitality and guest experiences by investing in team member training and career development programs. Consequently, this strategic reinvestment into team members and property has resulted in earning the vote for one of the Best and Brightest Companies in the Nation to work for in 2022.

Buffalo Run Casino & Resort has over 70,000 square feet of casino floor and features the area’s widest variety of slots and tables games. The resort also includes a non-smoking Hotel, Truckers Lounge with special amenities and offers, the Peoria Showplace in-door event center, the outdoor amphitheater, complimentary entertainment in the Backwoods Bar, an 18-hole championship golf course, two indoor Top Golf® bays, and a smoke-free high-end Player’s Lounge. Additionally, the Buffalo Run Casino & Resort offers three dining experiences including Coal Creek Restaurant with high-end cuisine, the Bistro with hand-tossed brick oven pizza, and the Backwoods Bar & Grill which claims the title for best in-house smoked barbecue in the area.

Ongoing advancements to the property include the Peoria Showplace remodel, Hotel updates and restaurant remodel with more to come. New technology has been implemented to streamline offer redemption for guests that include self-serve kiosks for dining and promotions, digital core mail pieces, and a mobile app for monthly promotional information. Updates on the casino floor include in-game bonuses and upgraded slots. Innovation and strategic marketing decisions are powered by data driven technology (QCI), empowering the casino to customize the guest experience and increase loyalty in a highly competitive market.

ABOUT QCI
Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI Enterprise Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and Europe. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Dallas, and Tulsa. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

ABOUT Dr. Ralph Thomas
Dr. Ralph Thomas is the Co-Founder and Chief Executive Officer of Quick Custom Intelligence. Ralph is a product visionary in applied analytics and the founder of two companies that deliver solutions in casino gaming, education, and adult learning. As a gaming industry veteran, Dr. Thomas has substantial experience implementing analytics into single and multi-property gaming companies to drive tangible and measurable gains to the bottom line and has built business intelligence tools for multibillion-dollar casinos. Dr. Thomas is co-author of seven books and over 80 articles on applied analytics and data science in gaming, an inventor on dozens of patents, and understands gaming from raw data up through casino operations, giving him a unique, 360-degree view of the industry.

MIL-OSI: OZ Studio, a Global Firm with Texas Roots, Showcases Ethical AI Governance Model at the United Nations

Source: GlobeNewswire (MIL-OSI)

VIENNA, AUSTRIA , July 22, 2025 (GLOBE NEWSWIRE) — OZ Studio, a global technology firm with offices in Austin, Texas; Geneva, Switzerland; and Monterrey, Mexico, presented a groundbreaking model for municipal governance and ethical artificial intelligence at the United Nations headquarters in Vienna. The presentation marks a significant milestone for the company, which, after 22 years of serving multinational corporations, has pivoted its focus since 2020 toward empowering governments, entrepreneurs, and small businesses with integrated digital platforms.

Osuna attends sessions at the UN Office on Drugs and Crime that focus on data security and sovereignty.

The firm, represented by its CEO Daniel Osuna, who also serves on the UN’s AI Council ethics committee, detailed its successful public-private partnerships in the municipalities of Escobedo and Santiago, Mexico. These collaborations showcase a new standard for applying AI ethically at the local government level, a core mission of OZ Studio’s government services division.

For over two decades, OZ Studio built a reputation for providing high-level services to large multinational companies. However, recognizing a critical gap in the market, the company strategically shifted its focus in 2020. The new mission: to channel its extensive expertise into creating comprehensive digital ecosystems for those who form the backbone of local economies—small and medium-sized enterprises (SMEs) and the public institutions that serve them.

This new direction is embodied by two of its flagship platforms: LINK360 and the OZZY AI system. LINK360 is a digital empowerment platform that provides local businesses with e-commerce tools and AI-powered marketing, ensuring economic value and data sovereignty remain within the community. OZZY AI is an open-source framework trained for municipal processes, designed with ethical principles like transparency, algorithmic fairness, and cultural adaptation at its core.

The results of this approach are transformative. Under the leadership of Mayor Andrés Mijes, the city of Escobedo has become a 100% digitized municipality, a remarkable achievement that has streamlined public services and eliminated bureaucratic red tape. In Santiago, Mayor David de la Peña is leveraging the LINK360 program to foster a vibrant local entrepreneurial scene.

The international community has taken notice. Following the conclusion of the UN activities on Monday, July 22, OZ Studio (https://www.oz.studio) has entered into strategic alliances to explore pilot programs with several nations, including: Spain, Egypt, Georgia, Austria, and Australia. This global interest validates OZ Studio’s model as a scalable solution for governments worldwide seeking to innovate responsibly.

From its strategic locations in Austin, Geneva, and Monterrey, OZ Studio is now positioned to lead the charge in ethical AI for public service. The company’s evolution from a corporate service provider to a champion for local development demonstrates a powerful vision: leveraging top-tier technology to build self-sustaining, equitable, and prosperous communities from the ground up.

Presenting the OZZI AI framework and the Public Private Partnership for ethical AI

About OZ Studio

At OZ Studio, we are your premier destination for transformative digital solutions, anchored in over two decades of innovation and expertise. We are proud to say that we’ve evolved from pioneering basic email marketing to mastering complex digital strategies and immersive creative experiences. Our comprehensive suite of services spans from state-of-the-art website development to advanced SEO strategies, engaging interactive videos, and cutting-edge AI tools. As true digital architects, we empower our clients by merging top-tier technology with unmatched creative prowess, ensuring every digital interaction is compelling and results-oriented. We revolutionized the traditional digital service model through our productized Creative-as-a-Service (CaaS), which guarantees transparency, efficiency, and scalability. Our subscription-based approach simplifies access to a holistic digital strategy, incorporating a full spectrum of expertly managed creative and technical services. Partner with us at OZ Studio, and let us help elevate your brand to new heights, optimizing every touchpoint in your digital journey for growth and transformation.

Press inquiries

OZ Studio
https://oz.studio
Daniel Osuna
oz@oz.studio
+12123811969
5900 Balcones Drive
Austin, TX 78731

MIL-OSI: Aspida Re Expands Global Footprint with Strategic Reinsurance Transaction in Japan

Source: GlobeNewswire (MIL-OSI)

DURHAM, N.C., July 22, 2025 (GLOBE NEWSWIRE) — Aspida Life Re Ltd (“Aspida Re”), a Bermuda-based life and annuity reinsurance company, announced the execution of its second reinsurance transaction in Japan, effective June 1, 2025. This milestone marks a significant step in Aspida Re’s ongoing strategy to expand its global footprint and deliver innovative reinsurance solutions to life and annuity insurance partners worldwide.

The transaction was completed with a highly rated Japanese life insurance carrier (“Company”). Aspida Re, rated A- (Excellent) by AM Best, will reinsure new or incoming flow business. The reinsured product is a Japanese yen (JPY) denominated fixed annuity, highlighting Aspida Re’s ability to manage foreign exchange risk and deliver tailored solutions to its cedents.

“This transaction is highly strategic for Aspida Re,” said David Florian, CEO of Aspida Re. “It reflects our deep commitment to the Japanese market and our broader vision of supporting insurers around the world with innovative, capital-efficient reinsurance solutions.”

Aspida Re’s continued growth in Asian markets demonstrates its agility and expertise in navigating complex regulatory and financial environments, while reinforcing its role as a trusted partner in the global reinsurance landscape.

“We are excited to secure our second Japanese reinsurance agreement,” said Jon Steffen, President and Chief Actuary of Aspida Re. “Our flexibility and customized solutions allow us to provide significant advantage to clients and partners, no matter their location.”

To learn more about Aspida Re, visit aspidare.bm.

About Aspida Re

Aspida Life Re Ltd (“Aspida Re”), a Bermuda-based reinsurance platform, is focused on providing efficient and secure life and annuity reinsurance solutions to its global clients. Aspida Re seeks to be a trusted partner in its clients’ long-term financial growth by delivering creative, customized solutions while driving business by doing good for the communities it serves. Aspida Re is part of Aspida Holdings Ltd, with over $23.1bn in total assets as of March 31, 2025. A subsidiary of Ares Management Corporation (NYSE: ARES) acts as the dedicated investment manager, capital solutions, and corporate development partner to Aspida Re. For more information on Aspida Re, please visit www.aspidare.bm or follow them on LinkedIn.

Krystle Cajas, PR Contact
krystle.cajas@modop.com

MIL-OSI: Aspida Re Expands Global Footprint with Strategic Reinsurance Transaction in Japan

Source: GlobeNewswire (MIL-OSI)

DURHAM, N.C., July 22, 2025 (GLOBE NEWSWIRE) — Aspida Life Re Ltd (“Aspida Re”), a Bermuda-based life and annuity reinsurance company, announced the execution of its second reinsurance transaction in Japan, effective June 1, 2025. This milestone marks a significant step in Aspida Re’s ongoing strategy to expand its global footprint and deliver innovative reinsurance solutions to life and annuity insurance partners worldwide.

The transaction was completed with a highly rated Japanese life insurance carrier (“Company”). Aspida Re, rated A- (Excellent) by AM Best, will reinsure new or incoming flow business. The reinsured product is a Japanese yen (JPY) denominated fixed annuity, highlighting Aspida Re’s ability to manage foreign exchange risk and deliver tailored solutions to its cedents.

“This transaction is highly strategic for Aspida Re,” said David Florian, CEO of Aspida Re. “It reflects our deep commitment to the Japanese market and our broader vision of supporting insurers around the world with innovative, capital-efficient reinsurance solutions.”

Aspida Re’s continued growth in Asian markets demonstrates its agility and expertise in navigating complex regulatory and financial environments, while reinforcing its role as a trusted partner in the global reinsurance landscape.

“We are excited to secure our second Japanese reinsurance agreement,” said Jon Steffen, President and Chief Actuary of Aspida Re. “Our flexibility and customized solutions allow us to provide significant advantage to clients and partners, no matter their location.”

To learn more about Aspida Re, visit aspidare.bm.

About Aspida Re

Aspida Life Re Ltd (“Aspida Re”), a Bermuda-based reinsurance platform, is focused on providing efficient and secure life and annuity reinsurance solutions to its global clients. Aspida Re seeks to be a trusted partner in its clients’ long-term financial growth by delivering creative, customized solutions while driving business by doing good for the communities it serves. Aspida Re is part of Aspida Holdings Ltd, with over $23.1bn in total assets as of March 31, 2025. A subsidiary of Ares Management Corporation (NYSE: ARES) acts as the dedicated investment manager, capital solutions, and corporate development partner to Aspida Re. For more information on Aspida Re, please visit www.aspidare.bm or follow them on LinkedIn.

Krystle Cajas, PR Contact
krystle.cajas@modop.com

https://www.globenewswire.com/NewsRoom/AttachmentNg/16c08f37-b662-4707-973b-06f8df03d725

MIL-OSI: DebitMyData™ Closes Oversubscribed Seed Round- Launches $1B Human Energy Grid Global Expansion

Source: GlobeNewswire (MIL-OSI)

DebitMyData™ Logo

FORT LAUDERDALE, Fla., July 22, 2025 (GLOBE NEWSWIRE) — DebitMyData™, Inc.—the powerhouse has closed a seed round at more than twice its original target. This surge of investor confidence paves the way for a bold, billion-dollar global rollout of DebitMyData™’s Human Energy Grid, setting a new standard for individual data ownership, ethical monetization, and human-centric AI innovation.

Preparing to launch a U.S and global expansion round, DebitMyData™ is already attracting top-tier venture capitalists—some of whom previously backed OpenAI alumni Ilya Sutskever and Mira Murati. Their attention is now focused on founder Preska Thomas and her breakthrough vision for a decentralized, human-led future in Adtech, AI, cybersecurity, and digital sovereignty.

“We’re advancing AI frameworks including Fuzzy Logic, ML, NLP, and robotic networks—but the Human Energy Grid ensures we embed ethics, skills, and human vision at the algorithmic core,” said Preska Thomas, Founder & CEO.

Agentic Logos, Nodes, and Verified Digital Identity

Integral to DebitMyData™ ‘s technology are Agentic Logos—cryptographically validated identity tools that combat fraud, impersonation, and deepfakes.

Core LLM Features:

Verified Ownership: Every identity is cryptographically bound to an authentic user or brand.
Real-Time Security: Proprietary consensus mechanisms eliminate spoofing and fakes.
Plug-and-Play APIs: Enterprises and large language models (LLMs) can easily verify and interface with Agentic Nodes.

By embedding identity-driven trust into content and advertising, DebitMyData™ transforms audience engagement. Brands and individuals alike benefit from frictionless, permission-based experiences that foster credibility and prevent misuse.

The Human Energy Grid: An Ethics-Powered Digital Ecosystem

DebitMyData™’s signature innovation—the Human Energy Grid—places people at the center of the digital economy.

Key Components:

Digital Ownership: Users control and protect their digital footprints via DID-LLM (Digital Identity LLM).
Agentic Avatars: AI agents trained and owned by users, supporting monetization through sponsorships, licensing, and personal branding.
Ethical AI Training: Decentralized Agentic Avatars contribute to safe, human-aligned AI development.
NFT-Backed Security: Blockchain-protected digital creations ensure transparent royalties and rights.
Quantum-Resistant Privacy: Federated learning and next-generation encryption secure all interactions.

This ecosystem empowers individuals to earn from their data and digital identity, marking a shift from extractive models toward equitable participation in the digital economy.

Global Expansion and Ecosystem Integration

Building on its momentum, DebitMyData™ is launching a global initiative to:

Open subsidiaries in the EU, Asia, and the Middle East
Advance Agentic Avatar technology for LLMs, APIs, and user-controlled AI
Partner with NFT platforms and creator-centric brands like AnimeGamer, MemeShorts (“The TikTok of America”), and Monetize YourSelfie

The roadmap includes further integration across decentralized marketplaces for data, content, and avatar-based economies.

Institutional & Government Alignment

DebitMyData™ is engaged in advanced discussions with regulatory bodies, family offices, and public sector partners worldwide, reinforcing its commitment to compliance, transparency, and leadership in large-scale data solutions.

Image by DebitMyData™

About DebitMyData™, Inc.

DebitMyData™, Inc. enables users to reclaim, verify, and monetize their digital identities through Agentic Logos and Agentic Avatars. Its scalable platform ensures GDPR compliance and AI alignment via the Human Energy Grid and DID-LLM, meeting evolving demands in ethical AI, cybersecurity, and digital equity.

“This is our moment—not just to advance AI but to protect what makes us human. The Human Energy Grid ensures humanity stays present, empowered, and valued in the algorithms that shape the future,” said Preska Thomas, Founder & CEO.

For more information, visit:

Media Contact:
Henry Cision
(754) 315-2420
communications@debitmydata.com
https://debitmydata.com/

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/95c96c26-19e8-422a-b695-f624bef63d48

A video accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/21a44de1-99d5-4625-a80a-80e766eb06d5

Dmytro Buianskyi/Shutterstock

MIL-OSI Analysis: As Sri Lanka’s economy pivots from tourism, it’s well placed to benefit from global trade and geopolitical jostling – new research

Source: The Conversation – UK – By Hemamali Tennakoon, Senior Lecturer in Strategy and Management, Brunel University of London

With its natural beauty, wildlife and culture, Sri Lanka is known as the “pearl of the Indian Ocean”, and attracts millions of tourists every year.

But my research suggests that the country might not be so reliant on tourism in the future, as it looks to become a major player in global maritime trade. The island’s numerous harbours and enviable location along international sea routes have led to major investment from China and the US, as they seek to extend their strategic influence in the region.

That investment is being welcomed after years of economic and political turmoil in Sri Lanka.

The Easter bombings of 2019 targeted Catholic churches and hotels, killing 269 people and devastating tourism. The same year, significant tax cuts slashed government revenue before COVID did serious damage to the economy.

In 2021, a ban on chemical fertilisers led to nationwide agricultural failure, while excessive borrowing and money printing triggered soaring inflation, which peaked at 70% in August 2022. The country ended up failing to pay its foreign debts.

Following huge protests in 2022 and the resignation of the president, Sri Lanka began a major political and economic shift. It secured a bailout from the International Monetary Fund and implemented reforms aimed at stabilising the economy.

So far, some of the effects have been positive. Inflation has eased, investor confidence has improved and more tea, clothing and rubber products are being exported up.

Key to this has been improved logistics and port infrastructure. Business at the port of Colombo, the country’s largest, is booming, aided in part by global shipping disruptions, including the Red Sea crisis, which rerouted vessels through the Indian Ocean.

But international maritime ambitions can be a complex affair, and Sri Lanka needs to be wary of becoming just a well-positioned commodity for the world’s economic superpowers.

China for example, has secured a controversial 99-year lease of Hambantota port. India, wary of Chinese encroachment, has ramped up its own investments, including the development of a container terminal in Colombo.

In 2023, the US announced a US$500 million (£372 million) plan to develop a deep-water shipping container terminal at the port of Colombo. And the potential US tariffs of 30% on imports from Sri Lanka have been interpreted by some as a pressure tactic to get greater access to its waters.

Balancing these interests is a delicate act. While foreign investment is crucial for infrastructure development, Sri Lanka needs to protect its sovereignty and ensure that port operations serve national, not just international, interests.

My research suggests that one way of building a resilient and diverse Sri Lankan economy would be to focus on its surrounding waters. Sri Lanka’s vast “exclusive economic zone”, an area of sea where it controls marine resources, holds massive untapped potential.

Blue economy

This potential lies in traditional sectors like fisheries and tourism, but also emerging industries such as marine biotechnology.

This growing field offers opportunities in things like bioengineering and marine-based pharmaceuticals. With other countries rapidly advancing in these sectors, Sri Lanka is well-positioned to follow suit and become a regional leader in the blue economy (economic activities associated with the sustainable use of ocean resources).

Business is booming in the port of Colombo.
shutterlk/Shutterstock

But there is still a complex web of geopolitical interests and economic pressures to navigate, as well as environmental challenges.

At the moment for example, the Sri Lankan government is making plans for the deep natural port at Trincomalee to become a major marine repair and refuelling centre between Dubai and Singapore. Other proposed projects include offshore wind farms and oil rig facilities.

The country also needs to compete with the likes of Malaysia, which is investing heavily in AI-driven port operations. To stay competitive, Sri Lanka must modernise infrastructure and streamline processes.

And despite the progress, challenges persist. Poverty in Sri Lanka has doubled since 2021, while youth unemployment remains high.

Sri Lanka faces rising maritime threats like piracy and illegal fishing, requiring stronger maritime surveillance. Simultaneously, port expansion risks damaging marine ecosystems. Green technologies and stricter environmental regulations are essential for long-term security and sustainability.

Sri Lanka’s strategic location and maritime heritage offer a foundation for economic renewal. With wise governance, sustainability, and balanced geopolitics, its ports could once again become vital gateways to regional prosperity and global trade.

Hemamali Tennakoon does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. As Sri Lanka’s economy pivots from tourism, it’s well placed to benefit from global trade and geopolitical jostling – new research – https://theconversation.com/as-sri-lankas-economy-pivots-from-tourism-its-well-placed-to-benefit-from-global-trade-and-geopolitical-jostling-new-research-261231

MIL OSI Analysis –

¹Announcing new cloud-based technology to empower cyber defenders, Official Microsoft Blog. Ann Johnson. Feb 28, 2019.

MIL-OSI Banking: Microsoft Sentinel data lake: Unify signals, cut costs, and power agentic AI

Source: Microsoft

Headline: Microsoft Sentinel data lake: Unify signals, cut costs, and power agentic AI

You can’t protect what you can’t see. Security operations teams have long been faced with the challenge of managing massive, fast-growing datasets, and the cost of scaling traditional data management tools to handle these data volumes has become unsustainable. We’re evolving our industry-leading Security Incidents and Event Management solution (SIEM), Microsoft Sentinel, to include a modern, cost-effective data lake. By unifying all your security data, Microsoft Sentinel data lake, now in public preview, accelerates agentic AI adoption and drives unparalleled visibility, empowering teams to detect and respond faster. With Sentinel data lake, you’re no longer forced to choose between retaining critical data and staying within budget.

Learn more about Microsoft Sentinel

Microsoft Sentinel started on this journey five years ago with the introduction of the first cloud-native SIEM to simplify data onboarding and bring the power of AI to threat detection.¹ Since then, we’ve integrated Sentinel with Microsoft Defender and enriched it with real-time threat intelligence, guided recommendations, and automated response capabilities. Microsoft Sentinel data lake is the next step in that journey—built to help security leaders break through the limitations of traditional SIEMs by putting security data at the center of the security operations center (SOC), at scale, and without compromise. Now, you can continue your own journey and onboard Microsoft Sentinel data lake.

Breaking down data silos for better security

WHAT is SIEM?

Learn more

With security log volumes growing fast, teams are forced into making painful tradeoffs: reduce logging by risking blind spots, shorten retention by compromising forensic depth, or absorb unsustainable costs when aiming to manage all their security data within a SIEM. This is the paradox of modern security: the more data you have, the harder it becomes to use it effectively. And without unified, long-term visibility, even the most advanced AI models can’t deliver to their full potential. Siloed data means missed cyberthreats, delayed investigations, and underutilized tools.

Microsoft Sentinel data lake was purpose-built to solve this challenge and provides the foundation for agentic defense. It brings together all your security data, from Microsoft and third-party sources, into a single, cost-effective data lake, with more than 350 native connectors. With data retention priced at less than 15% of traditional analytics logs, it enables seamless enrichment with threat intelligence and AI-powered detection across your entire environment. This isn’t just a new product, it’s a new architecture for security operations—one that empowers security teams to hunt cyberthreats across months or years, reconstruct incidents with precision, and unlock the full value of AI.

Microsoft’s vision for Sentinel data lake reflects what matters most in cybersecurity: clarity, scale, and real-world impact. With more than 1,200 Sentinel deployments worldwide, BlueVoyant has seen the need firsthand. Large scale data challenges are now the norm. Sentinel data lake marks a natural evolution of the SIEM and SOAR model, one that critically supports modern analytics, data science, and flexible ingestion strategy. It is a critical step forward for customers looking to modernize their security operations.

—Milan Patel, Chief Revenue Officer at BlueVoyant

To further help defenders get the most out of their data, we’re democratizing threat intelligence by converging Microsoft Defender Threat Intelligence (MDTI) capabilities into Defender XDR and Sentinel at no additional cost; this means that security teams will no longer need to buy a separate SKU to access these powerful features. MDTI value will be merged in Sentinel and Defender XDR over time, starting in October 2025 when all Microsoft first-party threat reports, including intel profiles and indicators of compromise (IoCs), will be available in Defender XDR. Additionally, IoCs will be incorporated into Sentinel case management so customers can collaborate and share threat intelligence across teams within their organization. The remaining features will become available over time.

With this change, security teams can easily tap into a powerful repository of frontline threat intelligence, sourced from 84 trillion daily signals and backed by the expertise of more than 10,000 Microsoft security specialists. Read more about how this added value in Sentinel and Defender will greatly enhance capabilities with real-time, high-quality threat data.

Empowering security teams to do more

The promise of AI in cybersecurity has always been bold: faster detection, smarter response, and the ability to outpace even the most sophisticated cyberattackers. But most security teams are held back by fragmented data and incomplete context. Centralizing your data in a threat intel-enriched data lake eliminates silos and ensures AI models like Security Copilot have the full context they need to detect subtle cyberattack patterns, correlate signals across time and space, and surface high-fidelity alerts. This creates the foundation for the future of agentic defense where AI doesn’t just assist, it acts. This shift now empowers security teams to:

What are indicators of compromise?

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Uncover cyberattacker behavior going back years without worrying as much about storage limits
Address pre-breach and post-breach use cases by correlating asset, activity, and TI data
Utilize real-time threat intel to triage faster and retroactively hunt over historical data
Trigger detections automatically based on the latest IoCs and tactics, techniques, and procedures (TTPs)
Use Kusto Query Language (KQL) and Apache Spark to query across extended time horizons and detect subtle cyberattack patterns
Support regulatory and compliance needs with scalable, cost-efficient data retention

These are the jobs that matter most in modern security operations and now they’re easier, faster, and more cost-effective to execute.

For cyber teams, the massive proliferation of data can misdirect focus or delay responses to genuine [cyber]threats. Microsoft Sentinel data lake can be a valuable tool for data centralization and visibility and for historical analysis across large volumes of datasets. Together with Microsoft, Accenture can help our clients leverage the data lake to extend the power of Microsoft Sentinel to supercharge attack detection and proactive remediation.

—Rex Thexton, Chief Technology Officer, Accenture Security

Simplifying operations while being AI-ready

Microsoft Sentinel data lake simplifies data management with a flexible, centralized experience in the Microsoft Defender portal—bringing your security data together alongside the tools your defenders use to prevent, detect, and respond to cyberthreats every day. Analysts can move seamlessly between the analytics and data lake tiers, enabling real-time response and deep investigation from a single interface. While doing that all your data stored in the analytics tier is automatically available in the data lake tier, and because it’s built on open formats, organizations can tailor analytics workflows, build custom machine learning (ML) models, and leverage familiar tools, over a single copy of their security data, to extend the value of the data lake to meet their unique needs. Whether you’re consolidating tools, scaling your SOC, or preparing for AI-powered defense, Sentinel data lake adapts to your security strategy and journey.

Sentinel data lake enables SOC teams into the next era of security operations. Being able to ensure coverage of your security estate—across all security data sources and vast time horizons—enables security teams to proactively detect latent cyberattacks, detect emerging cyberthreats with AI-powered models, reconstruct cyberattack timelines in forensic detail, and retroactively uncover indicators of compromise that might otherwise go unnoticed.

The [cyber]attack surface is expanding with every application and AI application deployed across hybrid cloud environments, and AI-powered attacks are evolving just as fast. What many organizations still lack isn’t just better tools—it’s real-time visibility of their IT estate, their configurations and business context. To understand their full exposure, organizations need the right asset intelligence and a shared industry effort. The new Microsoft Sentinel data lake represents a valuable step in that direction; IBM is committed to working across the ecosystem to help solve that challenge.

—Srini Tummalapenta, IBM Distinguished Engineer, Chief Technology Officer for IBM Consulting Cybersecurity Services

What is extended detection and response?

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This launch marks more than a product evolution enabling security operations teams to respond faster and with maximum visibility. Microsoft Sentinel is continuing to push the boundaries with a scalable architecture that combines SIEM, extended detection and response (XDR), and threat intelligence into a single, integrated experience. Sentinel data lake is the foundation of this evolution, enabling security teams to reason over more data, more intelligently, and more affordably than ever before.

Get started today

Microsoft Sentinel data lake is now in preview. Join us as we redefine what’s possible in security operations:

To learn more about Microsoft Security solutions, visit our website. Bookmark the Security blog to keep up with our expert coverage on security matters. Also, follow us on LinkedIn (Microsoft Security) and X (@MSFTSecurity) for the latest news and updates on cybersecurity.

MIL OSI Global Banks –

MIL-OSI: BoldSign® by Syncfusion® Earns 2025 SaaS Awards Finalist Honors and Five G2 Summer Badges

Source: GlobeNewswire (MIL-OSI)

RESEARCH TRIANGLE PARK, N.C., July 22, 2025 (GLOBE NEWSWIRE) — Syncfusion®, Inc., the enterprise technology provider of choice, today announced that its e-signature solution, BoldSign®, has been named a finalist in the 2025 SaaS Awards in multiple categories. Additionally, BoldSign has secured five Leader badges in G2’s Summer 2025 Grid® Reports.

BoldSign is a SaaS Awards Finalist in the Highest Customer Satisfaction with a SaaS Product and Best SaaS for Sustainability and Ethical Impact categories.

In the latest reports from leading review platform G2, BoldSign earned the following recognitions:

Additional information can be found on the BoldSign blog.

“BoldSign removes friction from everyday agreements while giving developers full control,” said Daniel Jebaraj, CEO of Syncfusion®. “Recognition from the SaaS Awards judges and hundreds of verified G2 reviewers affirms that BoldSign delivers real, measurable value through its thoughtful feature set, robust security, and developer-friendly approach.”

The SaaS Awards, operated by global cloud computing awards body The Cloud Awards, spotlight the most innovative and impactful cloud software worldwide. BoldSign is backed by enterprise-grade SOC 2®-certified security, industry-recognized customer support, qualified electronic signature support, and extensive integration capabilities. These enable development teams to embed modern, paper-free signing in any application while helping organizations reduce paper waste and meet sustainability goals.

BoldSign offers simple, flexible pricing (as well as a free plan), straightforward APIs, and a growing feature set, giving teams a faster, more affordable path to legally binding e-signatures. For more information or to start a free trial, visit boldsign.com.

About Syncfusion®, Inc.
Headquartered in the technology hub of Research Triangle Park, N.C., Syncfusion, Inc. delivers an award-winning ecosystem of developer control suites, embeddable BI platforms, and business software. Syncfusion was founded in 2001 with a single software component and a mission to support businesses of all sizes—from individual developers and start-ups to Fortune 500 enterprises. Though its pilot product, the Essential Studio® suite, has grown to over 1,900 developer controls, its mission remains the same. With offices in the U.S., India, and Kenya, Syncfusion prioritizes the customer experience by providing feature-rich solutions to help developers and enterprises solve complex problems, save money, and build high-performance, robust applications.

Contact: Brittany Kearns
Phone: 571-271-7211
Email: brittany@crossroadsb2b.com

Defence, diaspora and digital: PM Modi’s UK trip to reinforce bilateral agenda

Source: Government of India

Source: Government of India (4)

Prime Minister Narendra Modi will undertake a two-nation visit from July 23 to 26, starting with the United Kingdom at the invitation of British Prime Minister Keir Starmer. This will be his fourth official visit to the UK, reaffirming the growing depth and breadth of India-UK ties, particularly in defence, innovation, healthcare, education, and diaspora engagement.

Defence cooperation between the two countries spans joint exercises, technological collaboration, and knowledge exchange. The Indian and British armed forces regularly participate in bilateral and multilateral drills. In 2023, the Indian Navy joined Exercise Konkan in the Arabian Sea, while the Indian Air Force took part in Exercise Cobra Warrior at Royal Air Force Waddington. The Indian Army participated in the seventh edition of Exercise Ajeya Warrior held in Salisbury, UK. A major multinational air exercise, Exercise Tarang Shakti, is scheduled for August 2024. These engagements reflect a strategic partnership aimed at enhancing operational synergy and promoting indigenous defence production under India’s Make in India initiative.

In the area of science and technology, India and the UK have established themselves as close partners, with joint research programmes amounting to $387–516 million (approx. £300–400 million). The India-UK Science and Innovation Council, which convenes biennially, provides the framework for cooperation in emerging technologies such as artificial intelligence, clean energy, pandemic preparedness, and quantum science. During the April 2023 SIC meeting in the UK, an MoU was signed for expanded collaboration, including the creation of a new India-UK Net Zero Innovation Virtual Centre focused on industrial decarbonisation. India was also named a partner country in the UK’s International Science Partnership Fund, building upon the Newton-Bhabha Fund legacy.

Healthcare cooperation saw a pivotal moment during the COVID-19 pandemic, particularly with the joint development of the AstraZeneca vaccine by the UK and the Serum Institute of India. In July 2022, both nations signed the India-UK Framework Agreement for collaboration on healthcare workforce, aiming to streamline the recruitment and training of healthcare professionals. As per UK government data from June 2023, 60,533 Indian nationals are working in the National Health Service (NHS), the second-highest after British citizens. Among doctors in the NHS, 18 percent are of Asian origin, including 10,865 Indians. There are 31,992 Indian nurses and 11,499 clinical support staff, reflecting India’s critical contribution to the UK’s healthcare system.

Education continues to be a key pillar of the bilateral relationship. The number of Indian students enrolling in UK universities has consistently risen since 2015-16, with an estimated 170,000 currently studying in the country. A landmark development under India’s New Education Policy: the University of Southampton’s Gurugram campus was recently inaugurated, becoming the first fully operational foreign university campus in India under UGC regulations. Further boosting collaboration, both nations signed a mutual recognition of academic qualifications MoU in July 2022.

Mobility and migration are being actively facilitated under the Migration and Mobility Partnership Agreement signed in May 2021. The Young Professional Scheme, announced in November 2022 by Prime Ministers Narendra Modi and Rishi Sunak on the sidelines of the G20 Bali Summit, enables 3,000 young graduates between 18 and 30 years of age to live and work in each other’s countries for up to two years.

The Indian diaspora in the UK remains a cornerstone of bilateral relations. According to the 2021 Census, 1.864 million people of Indian origin reside in the UK, forming 2.6 percent of its population. Of these, 369,000 hold Indian passports. The diaspora has made significant contributions across academia, medicine, science, arts, business, and politics. A report by Grant Thornton and FICCI in 2022 identified over 65,000 Indian diaspora-owned businesses in the UK. Among them, 654 companies with annual revenues exceeding $129,000 (approx. £100,000) together generated $47.5 billion (approx. £36.84 billion) in revenue, paid over $1.29 billion (approx. £1 billion) in corporate taxes, invested more than $2.58 billion (approx. £2 billion) in capital expenditure, and supported over 174,000 jobs.

MIL-OSI United Nations: Supercharging Clean Energy Will Repair Humankind’s Relationship with Climate, Fuel Economic Growth, Secretary-General Says, Noting $2 Trillion Invested in 2024

Source: United Nations General Assembly and Security Council

Following is UN Secretary-General António Guterres’ address on climate action “A Moment of Opportunity: Supercharging the Clean Energy Age”, in New York today:

The headlines are dominated by a world in trouble. By conflict and climate chaos. By rising human suffering. By growing geopolitical divides. But amidst the turmoil, another story is being written. And its implications will be profound.

Throughout history, energy has shaped the destiny of humankind — from mastering fire to harnessing steam to splitting the atom. Now, we are on the cusp of a new era. Fossil fuels are running out of road. The sun is rising on a clean energy age.

Just follow the money. Two trillion dollars went into clean energy last year — that’s $800 billion more than fossil fuels and up almost 70 per cent in 10 years. And new data released today from the International Renewable Energy Agency shows that solar — not so long ago four times the cost of fossil fuels — is now 41 per cent cheaper. Offshore wind — 53 per cent. And over 90 per cent of new renewables worldwide produced electricity for less than the cheapest new fossil fuel alternative.

This is not just a shift in power. This is a shift in possibility. Yes, in repairing our relationship with the climate. Already, the carbon emissions saved by solar and wind globally are almost equivalent to what the whole European Union produces in a year.

But this transformation is fundamentally about energy security and people’s security. It’s about smart economics. Decent jobs, public health, advancing the Sustainable Development Goals. And delivering clean and affordable energy to everyone, everywhere.

Today, we are releasing a special report with the support of UN agencies and partners — the International Energy Agency, the International Monetary Fund (IMF), International Renewable Energy Agency, the Organisation for Economic Cooperation and Development (OECD) and the World Bank.

The report shows how far we have come in the decade since the Paris Agreement sparked a clean energy revolution. And it highlights the vast benefits — and actions needed — to accelerate a just transition globally.

Renewables already nearly match fossil fuels in global installed power capacity. And that’s just the beginning. Last year, almost all the new power capacity built came from renewables. And every continent on Earth added more renewables capacity than fossil fuels. The clean energy future is no longer a promise. It’s a fact. No government. No industry. No special interest can stop it.

Of course, the fossil fuel lobby of some fossil fuel companies will try — and we know the lengths to which they will go. But I have never been more confident that they will fail — because we have passed the point of no return.

For three powerful reasons. First, market economics. For decades, emissions and economic growth rose together. No more. In many advanced economies, emissions have peaked, but growth continues.

In 2023 alone, clean energy sectors drove 10 per cent of global gross domestic product (GDP) growth. In India, 5 per cent. The United States, 6 per cent. China — a leader in the energy transition — 20 per cent. And in the European Union, nearly 33 per cent. And clean energy sector jobs now outnumber fossil fuel jobs — employing almost 35 million people worldwide.

Even Texas — the heart of the American fossil fuel industry — now leads the United States in renewables. Why? Because it makes economic sense.

And yet fossil fuels still enjoy a 9-to-1 advantage in consumption subsidies globally — a clear market distortion. Add to that the unaccounted costs of climate damages on people and planet — and the distortion is even greater.

Countries that cling to fossil fuels are not protecting their economies — they are sabotaging them. Driving up costs. Undermining competitiveness. Locking in stranded assets. And missing the greatest economic opportunity of the twenty-first century.

Second — renewables are here to stay because they are the foundation of energy security and sovereignty. Let’s be clear: The greatest threat to energy security today is in fossil fuels. They leave economies and people at the mercy of price shocks, supply disruptions and geopolitical turmoil. Just look at Russia’s invasion of Ukraine. A war in Europe led to a global energy crisis. Oil and gas prices soared. Electricity and food bills followed. In 2022 average households around the world saw energy costs jump 20 per cent.

Modern and competitive economies need stable, affordable energy. Renewables offer both. There are no price spikes for sunlight. No embargoes on wind. Renewables can put power — literally and figuratively — in the hands of people and governments. And almost every nation has enough sun, wind, or water to become energy self-sufficient. Renewables mean real energy security. Real energy sovereignty. And real freedom from fossil-fuel volatility.

The third and final reason why there is no going back on renewables: Easy access. You can’t build a coal plant in someone’s backyard. But you can deliver solar panels to the most remote village on Earth. Solar and wind can be deployed faster, cheaper and more flexibly than fossil fuels ever could. And while nuclear will be part of the global energy mix, it can never fill the access gaps.

All of this is a game changer for the hundreds of millions of people still living without electricity — most of them in Africa, a continent bursting with renewable potential. By 2040, Africa could generate 10 times more electricity than it needs — entirely from renewables.

We are already seeing small-scale and off-grid renewable technologies lighting homes, and powering schools and businesses in remote areas. And in places like Pakistan for example, people power is fuelling a solar surge — consumers are driving the clean energy boom.

The energy transition is unstoppable. But the transition is not yet fast enough or fair enough. OECD countries and China account for 80 per cent of renewable power capacity installed worldwide. Brazil and India make up nearly 10 per cent. Africa — just 1.5 per cent.

Meanwhile, the climate crisis is laying waste to lives and livelihoods. Climate disasters in small island States have wiped out over 100 per cent of GDP. In the United States, they are pushing insurance premiums through the roof.

And the 1.5-degree limit is in unprecedented peril. To keep it within reach, we must drastically speed up the reduction of emissions — and the reach of the clean energy transition. With manufacturing capacity racing, prices plummeting, and COP30 [Thirtieth Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change] fast approaching… This is our moment of opportunity. We must seize it. We can do so by taking action in six opportunity areas.

First — by using new national climate plans to go all-out on the energy transition. Too often, governments send mixed messages: Bold renewable targets on one day. New fossil fuel subsidies and expansions the next.

The next national climate plans, or NDCs, are due in a matter of months. They must bring clarity and certainty. Group of Twenty (G20) countries must lead. They produce 80 per cent of global emissions. The principle of common but differentiated responsibilities must apply but every country must do more. Ahead of COP30 in Brazil this November, they must submit new plans.

I invite leaders to present their new NDCs at an event I will host in September, during General Assembly High-level week. These must: cover all emissions, across the entire economy; align with the 1.5-degree limit; integrate energy, climate and sustainable development priorities into one coherent vision; and deliver on global promises to double energy efficiency and triple renewables capacity by 2030, and to accelerate the transition away from fossil fuels. These plans must be backed by long-term road maps for a just transition to net-zero energy systems — in line with global net-zero by 2050.

And they must be underpinned by policies that show that the clean energy future is not just inevitable — but investable. Policies that create clear regulations and a pipeline of projects. That enhance public-private partnerships — unlocking capital and innovation. That put a meaningful price on carbon. And that end subsidies and international public finance for fossil fuels — as promised.

Second, this is our moment of opportunity to build the energy systems of the twenty-first century. The technology is moving ahead. In just 15 years, the cost of battery storage systems for electricity grids has dropped over 90 per cent.

But here’s the problem. Investments in the right infrastructure are not keeping up. For every dollar invested in renewable power, just 60 cents go to grids and storage. That ratio should be one-to-one.

We are building renewable power — but not connecting it fast enough. There’s three times more renewable energy waiting to be plugged into grids than was added last year. And fossil fuels still dominate the global total energy mix.

We must act now and invest in the backbone of a clean energy future: In modern, flexible and digital grids — including regional integration. In a massive scale-up of energy storage. In charging networks — to power the electric vehicle revolution.

On the other hand, we need energy efficiency but also electrification — across buildings, transport and industry. This is how we unlock the full promise of renewables — and build energy systems that are clean, secure and fit for the future.

Third, this is our moment of opportunity to meet the world’s surging energy demand sustainably. More people are plugging in. More cities are heating up — with soaring demand for cooling. And more technologies — from AI to digital finance — are devouring electricity. Governments must aim to meet all new electricity demand with renewables.

AI can boost efficiency, innovation and resilience in energy systems. And we must take profit in it. But it is also energy hungry. A typical AI data centre eats up as much electricity as 100,000 homes. The largest ones will soon use 20 times that. By 2030, data centres could consume as much electricity as all of Japan does today.

This is not sustainable — unless we make it so. And the technology sector must be out front. Today I call on every major tech firm to power all data centres with 100 per cent renewables by 2030.

And — along with other industries — they must use water sustainably in cooling systems. The future is being built in the cloud. It must be powered by the sun, the wind and the promise of a better world.

Fourth, this is the moment of opportunity for a just energy transition. The clean energy that we must deliver must also deliver equity, dignity and opportunity for all.

That means governments leading a just transition. With support, education and training — for fossil fuel workers, young people, women, Indigenous Peoples and others — so that they can thrive in the new energy economy. With stronger social protection — so no one is left behind. And with international cooperation to help low-income countries that are highly-dependent on fossil fuels and struggling to make the shift.

But justice doesn’t stop here. The critical minerals that power the clean energy revolution are often found in countries that have long been exploited. And today, we see history repeating. Communities mistreated. Rights trampled. Environments trashed. Nations stuck at the bottom of value chains — while others reap rewards. And extractive models digging deeper holes of inequality and harm. This must end.

Developing countries can play a major role in diversifying sources of supply. The UN Panel on Critical Energy Transition Minerals has shown the way forward — with a path grounded in human rights, justice and equity.

Today, I call on governments, businesses and civil society to work with us to deliver its recommendations. Let’s build a future that is not only green — but just. Not only fast — but fair. Not only transformative — but inclusive.

Fifth, we have a moment of opportunity to use trade and investment to supercharge the energy transition. Clean energy needs more than ambition. It needs access — to technologies, materials and manufacturing.

But these are concentrated in just a few countries. And global trade is fragmenting.

Trade policy must support climate policy. Countries committed to the new energy era must come together to ensure that trade and investment drive it forward. By building diverse, secure and resilient supply chains. By cutting tariffs on clean energy goods. By unlocking investment and trade — including through South-South cooperation. And by modernizing outdated investment treaties — starting with Investor-State Dispute Settlement provisions.

Today, fossil fuel interests are weaponizing these provisions to delay the transition, particularly in several developing countries. Reform is urgent. The race for the new must not be a race for the few. It must be a relay — shared, inclusive and resilient. Let’s make trade a tool for transformation.

Sixth and finally, this is our moment of opportunity to unleash the full force of finance — driving investment to markets with massive potential. Despite soaring demand and vast renewables potential — developing countries are being locked out of the energy transition.

Africa is home to 60 per cent of the world’s best solar resources. But it received just 2 per cent of global clean energy investment last year. Zoom out, and the picture is just as stark.

In the last decade, only 1 in every 5 clean energy dollars went to emerging and developing countries outside China. To keep the 1.5-degree limit alive — and deliver universal energy access – annual clean energy investment in those countries must rise more than fivefold by 2030.

That demands bold national policies. And concrete international action to: Reform the global financial architecture. Drastically increase the lending capacity of multilateral development banks — making them bigger, bolder and better able to leverage massive amounts of private finance at reasonable costs. And take effective action on debt relief — and scale up proven tools like debt for climate swaps.

Today, developing countries pay outlandish sums for both debt and equity financing — in part because of outdated risk models, bias and broken assumptions that boost the cost of capital. Credit ratings agencies and investors must modernize.

We need a new approach to risk that reflects: the promise of clean energy; the rising cost of climate chaos; and the danger of stranded fossil fuel assets. I urge parties to unite to solve the complex challenges facing some developing countries in the energy transition — such as early retirement of coal plants.

The fossil fuel age is flailing and failing. We are in the dawn of a new energy era. An era where cheap, clean, abundant energy powers a world rich in economic opportunity. Where nations have the security of energy autonomy. And the gift of power is a gift for all.

That world is within reach. But it won’t happen on its own. Not fast enough. Not fair enough. It is up to us. We have the tools to power the future for humanity. Let’s make the most of them. This is our moment of opportunity.

MIL OSI United Nations News –