Category: Artificial Intelligence

MIL-OSI: QCI’s Andrew Cardno to Speak on “The Next Era of Tribal Gaming: The 7 Forces Shaping Its Future” at the Indian Gaming Association Trade Show

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, March 26, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI) is pleased to announce that Andrew Cardno, Chief Technology Officer of QCI, will be delivering a featured session at the 2025 Indian Gaming Trade Show & Convention in San Diego, CA. The session, titled “The Seven Forces Transforming Our Industry (Whether We Like It or Not),” will take place on April 1, 2025, from 3:00 pm to 4:00 pm.

Tribal gaming stands at the forefront of an unprecedented era of transformation. Both internal dynamics and external pressures are driving change at a pace never seen before. In this timely session, Mr. Cardno will provide an in-depth exploration of seven powerful forces reshaping the future of tribal gaming. From the rapid rise of Artificial Intelligence (AI) and robotics to shifting consumer expectations and evolving market forces, attendees will gain valuable insights into the technologies and trends defining the next era of the industry.

“Tribal gaming has always been a leader in innovation, but the convergence of AI, robotics, and rapid technological advancement presents new challenges and exciting opportunities,” said Andrew Cardno, CTO of QCI. “This session is about equipping tribal operators with the knowledge and tools to embrace these changes while protecting the core traditions that make tribal gaming unique. By understanding these forces, we can ensure that team members are empowered, operations are optimized, and tribal enterprises continue to thrive.”

Victor Rocha, Conference Chairman of the Indian Gaming Trade Show & Convention, added, “We are excited to feature Andrew Cardno in this important session. Tribal gaming is facing a critical moment, and understanding these seven forces is essential for our industry’s future. This conversation goes beyond technology — it’s about how we protect our sovereignty, strengthen our communities, and continue leading the gaming industry into the future.”

Attendees will leave with practical strategies to integrate emerging technologies in ways that reinforce the unique strengths of tribal gaming enterprises. The session will focus on how these tools can enhance operational efficiency, improve customer experiences, and create new opportunities for team member growth — all while honoring the cultural and economic significance of tribal gaming.

ABOUT The 2025 Indian Gaming Tradeshow and Convention
As the premier events for the tribal gaming community, the Indian Gaming Tradeshow & Convention and Mid-Year Conference & Expo deliver the insight and strategies you need to rise to the top of the competitive gaming industry landscape. There’s no better opportunity to meet industry leaders, access cutting-edge trends and celebrate a proud tradition of success. For more information visit: www.indiangamingtradeshow.com.

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 Andrew Cardno
Andrew Cardno is a distinguished figure in the realm of artificial intelligence and data plumbing. With over two decades spearheading private Ph.D. and master’s level research teams, his expertise has made significant waves in data tooling. Andrew’s innate ability to innovate has led him to devise numerous pioneering visualization methods. Of these, the most notable is the deep zoom image format, a groundbreaking innovation that has since become a cornerstone in the majority of today’s mapping tools. His leadership acumen has earned him two coveted Smithsonian Laureates, and teams under his mentorship have clinched 40 industry awards, including three pivotal gaming industry transformation awards. Together with Dr. Ralph Thomas, the duo co-founded Quick Custom Intelligence, amplifying their collaborative innovative capacities. A testament to his inventive prowess, Andrew boasts over 150 patent applications. Across various industries—be it telecommunications with Telstra Australia, retail with giants like Walmart and Best Buy, or the medical sector with esteemed institutions like City Of Hope and UCSD—Andrew’s impact is deeply felt. He has enriched the literature with insights, co-authoring eight influential books with Dr. Thomas and contributing to over 100 industry publications. An advocate for community and diversity, Andrew’s work has touched over 100 Native American Tribal Resorts, underscoring his expansive and inclusive professional endeavors.

ABOUT Victor Rocha
Victor Rocha holds the distinguished position of Conference Chairman for the Indian Gaming Association, while also leading Victor-Strategies as its president. As the owner and publisher of Pechanga.net, he has been deeply engaged in the political landscape of U.S. tribal gaming since 1998. Rocha’s outstanding contributions to the industry have been recognized through numerous accolades, such as AGEM’s 2023 Peter Mead Memorial Award Honoring Excellence in Gaming Media & Communication, the National Center for American Indian Enterprise Development’s 2015 Tribal Gaming Visionary Award, the American Gaming Association’s 2013 Lifetime Achievement Award for Gaming Communications, Raving’s 2012 Casino Marketing Lifetime Achievement Award, the National Indian Gaming Association’s 2002 Outstanding Contribution to Indian Country, VCAT’s 2001 Catalyst Award, and Global Gaming Business Magazine’s 2000 “40 Under 40” list.

Contact:
Laurel Kay, Quick Custom Intelligence
Phone: 858-349-8354

The MIL Network –

March 27, 2025

MIL-OSI: 3D Systems Reports Fourth Quarter and Full Year 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

ROCK HILL, S.C., March 26, 2025 (GLOBE NEWSWIRE) — 3D Systems Corporation (NYSE:DDD) announced today its financial results for the fourth quarter and full year ended December 31, 2024.

Full-year 2024 revenue of $440 million, above lower end of guidance range, inclusive of a $9 million revenue reduction in Q4 driven by a change in accounting estimates for Regenerative Medicine program milestone recognition. This change in estimate is related to the now anticipated use of pre-clinical human decedent testing, successfully demonstrated by our partner, United Therapeutics, which led to refinement of the milestone technical criteria.
Continued reduction in operating expenses in Q4 reflecting the company’s focus on cost savings and efficiency improvements.
Announcement of a new cost reduction initiative expected to deliver over $50 million in incremental annualized savings related to actions taken throughout 2025 and the first-half 2026.
All regulatory approvals have been obtained for sale of Geomagic software platform, with a sale price of $123 million and targeted close in early April.
Balance sheet cash and cash equivalents of $171 million as of December 31, 2024. Proceeds from Geomagic sale to further strengthen balance sheet in Q2.
Normalizing for divestiture, 2025 full-year forecast reflects return to flat to modest top line organic growth with progressive cost reductions strengthening EBITDA performance throughout the year. Target is to exit 2025 at positive adjusted-EBITDA levels, with continuing momentum in 2026.

	Three Months Ended December 31,						Year Ended December 31,
		2024			2023			2024			2023
(in millions, expect per share data)	(unaudited)			(unaudited)
Revenue	$	111.0		$	114.8		$	440.1		$	488.1
Gross profit	$	34.4		$	44.0		$	164.2		$	196.4
Gross profit margin		31.0	%		38.3	%		37.3	%		40.2	%
Operating expense	$	64.8		$	371.3		$	441.6		$	602.4
Operating loss	$	(30.4	)	$	(327.3	)	$	(277.4	)	$	(406.0	)
Net loss attributable to 3D Systems Corporation	$	(33.7	)	$	(292.7	)	$	(255.6	)	$	(362.7	)
Diluted loss per share	$	(0.25	)	$	(2.25	)	$	(1.94	)	$	(2.79	)

Non-GAAP measures for year-over-year comparisons ⁽¹⁾
Non-GAAP gross profit margin		31.3	%		39.8	%		37.4	%		40.6	%
Non-GAAP operating expense	$	58.4		$	65.4		$	250.3		$	246.0
Adjusted EBITDA	$	(19.1	)	$	(14.0	)	$	(66.4	)	$	(26.3	)
Non-GAAP diluted loss per share	$	(0.19	)	$	(0.13	)	$	(0.62	)	$	(0.28	)

⁽¹⁾ See “Presentation of Information in this Press Release” below for a description, and the Appendix for the reconciliation of non-GAAP measurements to the most closely comparable GAAP measure.

Summary Comments on Results

“While 2024 was a challenging year for sales, reflecting weak customer capex spending on new manufacturing plant capacity through the first three quarters, we were pleased to see a healthy uptick in the sale of new industrial printer systems and global services in the fourth quarter,” said Dr. Jeffrey Graves, president & CEO of 3D Systems. “In addition, with the largest installed base in the additive manufacturing industry, we were pleased to see a return to healthy consumable sales across most markets, reflecting higher utilization rates for existing machines. These positive changes in our core business units were unfortunately masked by the impact of an accounting estimate change in our Regenerative Medicine program related to refinement of technical acceptance criteria associated with a potential change in testing methodology for printed human lungs, which are the focus of this program. This estimate change relates to the incorporation of in vivo human decedent testing protocols, which have recently been successfully demonstrated by our partner, United Therapeutics. While this accounting estimate change was not originally contemplated in our 2024 guidance, I am pleased that our core businesses still delivered within the full-year revenue range communicated in our prior forecast, and that the market showed signs of strengthening in the fourth quarter.”

Dr. Graves continued, “While sales were weak across our industry for the last year, for 3D Systems 2024 will be remembered as a historic year of innovation, one in which dozens of new products were launched in both our Healthcare and Industrial markets. This strength in new products was a direct reflection of the continuity in R&D investment that we maintained over this challenging period. Naming just a few key milestones, early in the year we announced the largest contract in the Company’s history, securing our leadership in the dental market for the straightening of teeth, while simultaneously building critical momentum in the even larger adjacent market for teeth replacement, culminating in the announcement of our jetted denture solution which was granted clearance by the FDA in September. In our Industrial business, our collaboration with Daimler Truck demonstrated the exceptional savings potential for integrating digital rights management with on-demand localized print capabilities using Oqton work-flow management for critical spare parts, a market that is expected to reach $8 billion for trucks by 2027. With the broadest range of metal and polymer additive manufacturing technology in the entire industry, and our application-first mindset, we believe our organic growth prospects will be a key differentiator in the path ahead.”

Dr. Graves concluded, “With our new products now gaining traction in the market, our focus is increasingly centered on driving gross margin expansion and operating expense improvements in the face of continuing uncertainty in the global markets. Given this potential demand profile, we believe it is prudent to undertake further significant actions to reduce costs and improve operating efficiencies to support our long-term mission of delivering growth with sustainable profitability. Our latest cost initiative, which began in Q1 of 2025, is targeted at delivering over $50 million of incremental annualized savings based on actions taken over the next six quarters. Importantly, while these efforts will not be fully completed until the middle of 2026, we anticipate significant improvements associated with them, in conjunction with those taken previously, leading us to expect break-even-or-better adjusted-EBITDA performance by the fourth quarter of 2025, despite essentially flat-to-modest revenue growth. From a balance sheet perspective, having previously retired over 50% of our Convertible Notes due November 2026, the remainder of which reaches maturity in Q4 of 2026, our cash balance at 2024 year-end of $171 million, supplemented by proceeds from the sale of our Geomagic software platform for $123 million in the coming weeks, positions us well to continue reducing our leverage while supporting the investments needed to deliver long-term growth and profitability.”

Summary of Fourth Quarter Results

Revenue for the fourth quarter of 2024 decreased 3% to $111.0 million compared to the same period last year and includes an $8.7 million reduction due to a change in accounting estimate related to refinement of milestone recognition criteria within our Regenerative Medicine program.

Healthcare Solutions revenue, which includes revenues from our Regenerative Medicine program, decreased 21% to $40.4 million compared to the prior year period.

Industrial Solutions revenue increased 11% to $70.7 million compared to the prior year period.

Gross profit margin for the fourth quarter of 2024 was 31.0% compared to 38.3% in the same period last year. Non-GAAP gross profit margin was 31.3% compared to 39.8% in the same period last year and decreased primarily due to the accounting estimate changes previously described for our Regenerative Medicine program. Excluding the impact of these accounting estimate changes, non-GAAP gross profit margins were 36.3% for Q4 and 38.7% for the full year 2024, offering a perspective on our core Healthcare and Industrial business performance.

Net loss attributable to 3D Systems Corporation improved by $259.0 million to a loss of $33.7 million in the fourth quarter of 2024 compared to the same period in the prior year. The improvement in net loss primarily reflects the year-over-year change in impairment of goodwill and other intangible assets taken during the prior year period.

Adjusted EBITDA decreased by $5.1 million to a loss of $19.1 million in the fourth quarter of 2024 compared to the same period last year primarily driven by lower revenue and margin due to a change in accounting estimate related to refinement of milestone recognition criteria in our Regenerative Medicine program.

Summary of Full-Year 2024 Results

Revenue for 2024 of $440.1 million decreased 10% compared to the prior year. The decline in revenue primarily reflects lower hardware systems sales due to macroeconomic factors that are negatively impacting demand.

Healthcare Solutions revenue decreased 11% to $189.7 million compared to the prior year.

Industrial Solutions revenue decreased 9% to $250.4 million compared to the prior year.

Gross profit margin for the full year 2024 was 37.3% compared to 40.2% in the prior year. Non-GAAP gross profit margin was 37.4% for the full year 2024 compared to 40.6% in the prior year. Gross profit margin decreased primarily due to the change in accounting estimate related to refinement of milestone recognition criteria within our Regenerative Medicine program and unfavorable manufacturing variances.

Net loss for the full year 2024 improved by $107.1 million to a loss of $255.6 million compared to the prior year. The improvement in net loss primarily reflects the year-over-year change in impairment of goodwill and other intangible assets taken during 2023.

Adjusted EBITDA decreased by $40.1 million to a loss of $66.4 million in 2024 compared to prior year primarily driven by lower revenues and increases in consulting and outside services expenses.

2025 Outlook

Assuming no material change in current macroeconomic conditions and the expected divestiture of the Geomagic business in early Q2 of 2025, the Company is providing the following for its full year 2025 outlook:

Revenue within the range of $420 million to $435 million, representing essentially flat to modest growth when excluding Geomagic revenue for the same periods in FY’24
Non-GAAP Gross Profit Margin within the range of 37% to 39%
Non-GAAP Operating Expense within the range of $200 million to $220 million
Adjusted EBITDA to be break even or better in Q4 2025

Financial Liquidity

At December 31, 2024, cash and cash equivalents totaled $171.3 million and decreased $160.2 million since December 31, 2023. This decrease resulted primarily from the repurchase of our Convertible Notes due November 2026 of $87.2 million, cash used in operations of $44.9 million, and capital expenditures of $16.1 million. At December 31, 2024, the company had total debt, net of deferred financing costs of $212.0 million.

Q4 and FY 2024 Conference Call and Webcast

The Company will host a conference call and simultaneous webcast to discuss these results on March 27 2025, which may be accessed as follows:

Date: Thursday, March 27, 2025
Time: 8:30 a.m. Eastern Time
Listen via webcast: www.3dsystems.com/investor
Participate via telephone: 201-689-8345

A replay of the webcast will be available approximately two hours after the live presentation at www.3dsystems.com/investor.

Forward-Looking Statements

Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.

Presentation of Information in this Press Release

3D Systems reports its financial results in accordance with GAAP. Management also reviews and reports certain Non-GAAP measures, including: Non-GAAP gross profit, Non-GAAP gross profit margin, Non-GAAP diluted income (loss) per share, Non-GAAP operating expense and Adjusted EBITDA. These Non-GAAP measures exclude certain items that management does not view as part of 3D Systems’ core results as they may be highly variable, may be unusual or infrequent, are difficult to predict and can distort underlying business trends and results. Management believes that the Non-GAAP measures provide useful additional insight into underlying business trends and results and provide meaningful information regarding the comparison of period-over-period results. Additionally, management uses the Non-GAAP measures for planning, forecasting and evaluating business and financial performance, including allocating resources and evaluating results relative to employee compensation targets. 3D Systems’ Non-GAAP measures are not calculated in accordance with or as required by GAAP and may not be calculated in the same manner as similarly titled measures used by other companies. These Non-GAAP measures should thus be considered as supplemental in nature and not considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP.

To calculate the Non-GAAP measures, 3D Systems excludes the impact of the following items:

amortization of intangible assets, a non-cash expense, as 3D Systems’ intangible assets were primarily acquired in connection with business combinations;
costs incurred in connection with acquisitions and divestitures, such as legal, consulting and advisory fees;
stock-based compensation expenses, a non-cash expense;
charges related to restructuring and cost optimization plans, impairment charges, including goodwill, and divestiture gains or losses;
certain compensation expense related to the 2021 Volumetric acquisition; and
costs, including legal fees, related to significant or unusual litigation matters.

Amortization of intangibles and acquisition and divestiture-related costs are excluded from Non-GAAP measures as the timing and magnitude of business combination transactions are not predictable, can vary significantly from period to period and the purchase price allocated to amortizable intangible assets and the related amortization period are unique to each acquisition. Amortization of intangible assets will recur in future periods until such intangible assets have been fully amortized. While intangible assets contribute to the company’s revenue generation, the amortization of intangible assets does not directly relate to the sale of the company’s products or services. Additionally, intangible assets amortization expense typically fluctuates based on the size and timing of the company’s acquisition activity. Accordingly, the company believes excluding the amortization of intangible assets enhances the company’s and investors’ ability to compare the company’s past financial performance with its current performance and to analyze underlying business performance and trends. Although stock-based compensation is a key incentive offered to certain of our employees, the expense is non-cash in nature, and we continue to evaluate our business performance excluding stock-based compensation; therefore, it is excluded from Non-GAAP measures. Stock-based compensation expenses will recur in future periods. Charges related to restructuring and cost optimization plans, impairment charges, including goodwill, divestiture gains or losses, and the costs, including legal fees, related to significant or unusual litigation matters are excluded from Non-GAAP measures as the frequency and magnitude of these activities may vary widely from period to period. Additionally, impairment charges, including goodwill, are non-cash. Furthermore, the company believes the costs, including legal fees, related to significant or unusual litigation matters are not indicative of our core business’ operations. Finally, 3D Systems excludes contingent consideration recorded as compensation expense related to the 2021 Volumetric acquisition from Non-GAAP measures as management evaluates financial performance excluding this expense, which is viewed by management as similar to acquisition consideration.

The matters discussed above are tax effected, as applicable, in calculating Non-GAAP diluted income (loss) per share.

Adjusted EBITDA, defined as net income, plus income tax (provision) benefit, interest and other income (expense), net, stock-based compensation expense, amortization of intangible assets, depreciation expense, and other Non-GAAP adjustments, all as described above, is used by management to evaluate performance and helps measure financial performance period-over-period.

A reconciliation of GAAP to Non-GAAP financial measures is provided in the accompanying schedules.

3D Systems does not provide forward-looking guidance for certain measures on a GAAP basis. The company is unable to provide a quantitative reconciliation of forward-looking Non-GAAP gross profit margin, Adjusted EBITDA, and Non-GAAP operating expense to the most directly comparable forward-looking GAAP measures without unreasonable effort because certain items, including litigation costs, acquisition expenses, stock-based compensation expense, intangible assets amortization expense, restructuring expenses, and goodwill impairment charges are difficult to predict and estimate. These items are inherently uncertain and depend on various factors, many of which are beyond the company’s control, and as such, any associated estimate and its impact on GAAP performance could vary materially.

About 3D Systems

More than 35 years ago, Chuck Hull’s curiosity and desire to improve the way products were designed and manufactured gave birth to 3D printing, 3D Systems, and the additive manufacturing industry. Since then, that same spark continues to ignite the 3D Systems team as we work side-by-side with our customers to change the way industries innovate. As a full-service solutions partner, we deliver industry-leading 3D printing technologies, materials and software to high-value markets such as medical and dental; aerospace, space and defense; transportation and motorsports; AI infrastructure; and durable goods. Each application-specific solution is powered by the expertise and passion of our employees who endeavor to achieve our shared goal of Transforming Manufacturing for a Better Future. More information on the company is available at www.3dsystems.com.

Investor Contact:	investor.relations@3dsystems.com
Media Contact:	press@3dsystems.com

Tables Follow


3D Systems Corporation Consolidated Balance Sheets (in thousands, except par value)

	December 31, 2024			December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents	$	171,324		$	331,525
Accounts receivable, net of reserves — $2,433 and $3,389		101,471			101,497
Inventories		118,530			152,188
Prepaid expenses and other current assets		34,329			42,612
Assets held for sale		3,176			—
Total current assets		428,830			627,822
Property and equipment, net		51,044			64,461
Intangible assets, net		18,020			62,724
Goodwill		14,879			116,082
Operating lease right-of-use assets		50,715			58,406
Finance lease right-of-use assets		8,726			12,174
Long-term deferred income tax assets		2,063			4,230
Other assets		34,569			44,761
Total assets	$	608,846		$	990,660
LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND EQUITY
Current liabilities:
Current operating lease liabilities	$	9,514		$	9,924
Accounts payable		41,833			49,757
Accrued and other liabilities		45,488			49,460
Customer deposits		4,712			7,599
Deferred revenue		27,298			30,448
Liabilities held for sale		10,251			—
Total current liabilities		139,096			147,188
Long-term debt, net of deferred financing costs		211,995			319,356
Long-term operating lease liabilities		52,527			56,795
Long-term deferred income tax liabilities		2,076			5,162
Other liabilities		25,001			33,400
Total liabilities		430,695			561,901
Commitments and contingencies
Redeemable non-controlling interest		1,958			2,006
Stockholders’ equity:
Common stock, $0.001 par value, authorized 220,000 shares; shares issued 135,510 and 133,619 as of December 31, 2024 and 2023, respectively		136			134
Additional paid-in capital		1,593,366			1,577,519
Accumulated deficit		(1,362,243	)		(1,106,650	)
Accumulated other comprehensive loss		(55,066	)		(44,250	)
Total stockholders’ equity		176,193			426,753
Total liabilities, redeemable non-controlling interest and stockholders’ equity	$	608,846		$	990,660


3D Systems Corporation Consolidated Statements of Operations (in thousands, except per share amounts)

	Three Months Ended						Year Ended
	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Revenue:	(unaudited)			(unaudited)
Products	$	70,426		$	74,763		$	279,178		$	328,731
Services		40,598			40,085			160,943			159,338
Total revenue		111,024			114,848			440,121			488,069
Cost of sales:
Products		46,288			49,816			175,859			203,258
Services		30,291			21,075			100,084			88,390
Total cost of sales		76,579			70,891			275,943			291,648
Gross profit		34,445			43,957			164,178			196,421
Operating expenses:
Selling, general and administrative		43,360			59,549			210,132			210,172
Research and development		20,219			22,513			86,479			89,466
Asset impairment charges		1,234			289,190			144,967			302,787
Total operating expenses		64,813			371,252			441,578			602,425
Loss from operations		(30,368	)		(327,295	)		(277,400	)		(406,004	)
Non-operating income (loss):
Foreign exchange gain (loss), net		3,226			(978	)		2,452			(4,825	)
Interest income		1,502			3,781			7,302			19,511
Interest expense		(620	)		(689	)		(2,564	)		(3,301	)
Other income (loss), net		(1,505	)		31,887			20,214			32,307
Total non-operating income (loss)		2,603			34,001			27,404			43,692
Loss before income taxes		(27,765	)		(293,294	)		(249,996	)		(362,312	)
(Provision) benefit for income taxes		(4,689	)		1,045			(2,193	)		641
Loss on equity method investment, net of income taxes		(1,001	)		(535	)		(3,404	)		(1,282	)
Net loss before redeemable non-controlling interest		(33,455	)		(292,784	)		(255,593	)		(362,953	)
Less: net loss attributable to redeemable non-controlling interest		252			(116	)		—			(265	)
Net loss attributable to 3D Systems Corporation	$	(33,707	)	$	(292,668	)	$	(255,593	)	$	(362,688	)

Net loss per common share:
Basic	$	(0.25	)	$	(2.25	)	$	(1.94	)	$	(2.79	)
Diluted	$	(0.25	)	$	(2.25	)	$	(1.94	)	$	(2.79	)

Weighted average shares outstanding:
Basic		132,576			130,431			131,861			129,944
Diluted		132,576			130,431			131,861			129,944


3D Systems Corporation Consolidated Statements of Cash Flows (in thousands)

	Year Ended December 31,
		2024			2023
Cash flows from operating activities:
Net loss before redeemable non-controlling interest	$	(255,593	)	$	(362,953	)
Adjustments to reconcile loss income to net cash used in operating activities:
Depreciation and amortization		33,310			33,413
Accretion of debt discount		1,378			2,640
Stock-based compensation		18,457			23,504
Loss on short-term investments		—			6
Non-cash operating lease expense		9,871			9,267
Provision for inventory obsolescence and revaluation		12,360			6,350
Provision for bad debts		506			595
Loss on the disposition of businesses, property, equipment and other assets		2,795			6
Gain on debt extinguishment		(21,518	)		(32,181	)
Benefit for deferred income taxes and reserve adjustments		(952	)		(2,412	)
Loss on equity method investment		3,404			1,282
Impairments of assets		144,967			304,698
Changes in operating accounts:
Accounts receivable		(6,376	)		(6,186	)
Inventories		15,766			(20,555	)
Prepaid expenses and other current assets		7,049			(7,961	)
Accounts payable		(5,812	)		(5,526	)
Deferred revenue and customer deposits		3,602			1,245
Accrued and other liabilities		(6,187	)		(12,933	)
All other operating activities		(1,914	)		(12,994	)
Net cash used in operating activities		(44,887	)		(80,695	)
Cash flows from investing activities:
Purchases of property and equipment		(16,121	)		(27,183	)
Purchases of short-term investments		—			—
Sales and maturities of short-term investments		—			180,925
Proceeds from sale of assets and businesses, net of cash sold		96			194
Acquisitions and other investments, net of cash acquired		(3,000	)		(29,152	)
Net cash (used in) provided by investing activities		(19,025	)		124,784
Cash flows from financing activities:
Repayment of borrowings/long-term debt		(87,218	)		(100,614	)
Purchase of non-controlling interests		—			—
Taxes paid related to net-share settlement of equity awards		(2,662	)		(5,211	)
Other financing activities		(1,385	)		(644	)
Net cash used in financing activities		(91,265	)		(106,469	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(5,053	)		3,516
Net decrease in cash, cash equivalents and restricted cash		(160,230	)		(58,864	)
Cash, cash equivalents and restricted cash at the beginning of the year ^a		333,111			391,975
Cash, cash equivalents and restricted cash at the end of the year ^a	$	172,881		$	333,111

(a) The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets to the total of such amounts reported in the condensed consolidated statements of cash flows.

	December 31, 2024		December 31, 2023		December 31, 2022
Cash and cash equivalents	$	171,324	$	331,525	$	388,134
Restricted cash included in prepaid expenses and other current assets		123		119		114
Restricted cash included in other assets		1,434		1,467		3,727
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	172,881	$	333,111	$	391,975

Amounts included in restricted cash as of December 31, 2024 and December 31, 2023 primarily relate to guarantees in the form of a standby letter of credit as security for a long-term real estate lease. Amounts included in restricted cash as of December 31, 2022 primarily relate to $3,435 deposited into and held in an escrow account prior to its use as part of our initial investment in the National Additive Manufacturing Innovation (“NAMI”) joint venture. The remaining amounts in restricted cash in all periods presented relate to collateral for letters of credit and bank guarantees.


Appendix 3D Systems Corporation Unaudited Reconciliations of GAAP to Non-GAAP Measures

Segment Revenue ⁽¹⁾

	Three Months Ended December 31,
*(in millions)*		2024		2023	$ Change			% Change
Healthcare Solutions	$	40.4	$	51.2	$	(10.8	)		(21.1)	%
Industrial Solutions		70.7		63.7		7.0			11.0	%
Total revenue	$	111.0	$	114.8	$	(3.8	)		(3.3)	%

⁽¹⁾Amounts in table may not foot due to rounding

	Year Ended December 31,
*(in millions)*		2024		2023	$ Change			% Change
Healthcare Solutions	$	189.7	$	213.2	$	(23.5	)	(11.0)	%
Industrial Solutions		250.4		274.9		(24.5	)	(8.9)	%
Total revenue	$	440.1	$	488.1	$	(47.9	)	(9.8)	%

⁽¹⁾Amounts in table may not foot due to rounding

Gross Profit and Gross Profit Margin ⁽¹⁾

	Three Months Ended December 31,
*(in millions)*		2024					2023
	Gross Profit		Gross Profit Margin			Gross Profit		Gross Profit Margin
GAAP	$	34.4		31.0	%	$	44.0		38.3	%
Amortization expense included in Cost of sales		0.2					0.4
Severance accrual adjustment		0.1					1.4
Non-GAAP ⁽²⁾	$	34.7		31.3	%	$	45.8		39.8	%

⁽¹⁾Amounts in table may not foot due to rounding ⁽²⁾ Calculated as non-GAAP gross profit as a percentage of total revenue.


	Year Ended December 31,
*(in millions)*		2024						2023
	Gross Profit			Gross Profit Margin			Gross Profit		Gross Profit Margin
GAAP	$	164.2			37.3	%	$	196.4		40.2	%
Amortization expense included in Cost of sales		1.0						0.5
Severance accrual adjustment		(0.4	)					1.4
Non-GAAP ⁽²⁾	$	164.8			37.4	%	$	198.4		40.6	%

⁽¹⁾Amounts in table may not foot due to rounding ⁽²⁾ Calculated as non-GAAP gross profit as a percentage of total revenue.

Non-GAAP Operating Expense⁽¹⁾

	Three Months Ended December 31,						Year Ended December 31,
*(in millions)*		2024			2023			2024			2023
Operating expense	$	64.8		$	371.3		$	441.6		$	602.4
Amortization expense		(0.8	)		(2.0	)		(13.3	)		(11.6	)
Stock-based compensation expense		(1.1	)		(8.4	)		(18.4	)		(23.5	)
Acquisition and divestiture-related expense		(1.4	)		1.2			(2.2	)		1.1
Legal and other expense		(1.8	)		(3.2	)		(11.0	)		(8.1	)
Restructuring expense		(0.1	)		(3.3	)		(1.4	)		(10.1	)
Asset impairment charges		(1.2	)		(290.1	)		(145.0	)		(304.4	)
Non-GAAP operating expense	$	58.4		$	65.4		$	250.3		$	246.0

⁽¹⁾Amounts in table may not foot due to rounding


Appendix 3D Systems Corporation Unaudited Reconciliations of GAAP to Non-GAAP Measures

Net Loss to Adjusted EBITDA ⁽¹⁾

	Three Months Ended December 31,						Year Ended December 31,
*(in millions)*		2024			2023			2024			2023
Net loss attributable to 3D Systems Corporation	$	(33.7	)	$	(292.7	)	$	(255.6	)	$	(362.7	)
Interest (income) expense, net		(0.9	)		(3.1	)		(4.7	)		(16.2	)
Provision (benefit) for income taxes		4.7			(1.0	)		2.2			(0.6	)
Depreciation expense		4.5			5.7			19.0			21.3
Amortization expense		1.0			2.4			14.3			12.1
EBITDA		(24.4	)		(288.8	)		(224.8	)		(346.1	)
Stock-based compensation expense		1.1			8.4			18.4			23.5
Acquisition and divestiture-related expense		1.4			(1.2	)		2.2			(1.1	)
Legal and other related costs		2.2			3.2			11.4			8.1
Restructuring expense		(0.2	)		4.8			0.7			11.5
Net loss attributable to redeemable non-controlling interest		0.3			(0.1	)		0.1			(0.3	)
Loss on equity method investment, net of tax		1.0			0.5			3.4			1.3
Asset impairment charges		1.2			290.1			145.0			304.4
Gain on repurchase of debt		—			(32.2	)		(21.5	)		(32.2	)
Other non-operating (income) expense		(1.7	)		1.3			(1.2	)		4.7
Adjusted EBITDA	$	(19.1	)	$	(14.0	)	$	(66.4	)	$	(26.3	)

⁽¹⁾ Amounts in table may not foot due to rounding


Appendix 3D Systems Corporation Unaudited Reconciliations of GAAP to Non-GAAP Measures

Diluted Loss per Share ⁽¹⁾

	Three Months Ended December 31,						Year Ended December 31,
*(in dollars)*		2024			2023			2024			2023
Diluted loss per share	$	(0.25	)	$	(2.25	)	$	(1.94	)	$	(2.79	)
Amortization expense		0.01			0.02			0.11			0.09
Stock-based compensation expense		0.01			0.06			0.14			0.18
Acquisition and divestiture-related expense		0.01			(0.01	)		0.02			(0.01	)
Legal expense		0.02			0.03			0.09			0.06
Restructuring expense		—			0.04			0.01			0.09
Asset impairment charges		0.01			2.23			1.10			2.35
Gain on repurchase of debt		—			(0.25	)		(0.16	)		(0.25	)
Loss on equity method investment and other		0.01			—			0.03			—
Non-GAAP diluted loss per share	$	(0.19	)	$	(0.13	)	$	(0.62	)	$	(0.28	)

⁽¹⁾Amounts in table may not foot due to rounding

The MIL Network –

March 27, 2025

MIL-OSI Video: Ukraine, Pact for the Future, Climate & other topics – Daily Press Briefing | United Nations

Source: United Nations (Video News)

Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

Highlights:
Ukraine
Ukraine/Security Council
Pact for the Future
Climate
Renewables
Occupied Palestinian Territory
Sudan
South Sudan
Democratic Republic of the Congo
Haiti
Biological Weapons Convention
Clarification
Financial Contributions

UKRAINEThe Secretary-General welcomes the discussions and reported commitments reached in Saudi Arabia by the United States, the Russian Federation and Ukraine.Reaching an agreement on freedom of navigation in the Black Sea to ensure the protection of civilian vessels and port infrastructure, will be a crucial contribution to the global food security and supply chains, reflecting the importance of trade routes from both Ukraine and the Russian Federation to global markets.The United Nations has been working consistently, especially following the letters the Secretary-General sent to Presidents Zelenskyy, Putin and Erdogan on 7 February 2024 putting forward a proposal for the safe and free navigation in the Black Sea.The United Nations also remains closely engaged in the continued implementation of the Memorandum of Understanding with the Russian Federation on facilitating access of Russian food and fertilizers to global markets to address global food security.The Secretary-General’s good offices remain available to support all efforts towards peace.The Secretary-General reiterates his hope that such efforts will pave the way for a durable ceasefire and contribute to achieving a just, comprehensive and lasting peace in Ukraine, in line with the UN Charter, international law and relevant UN resolutions and in full respect of Ukraine’s independence, sovereignty and territorial integrity.That statement is now being shared with you electronically.
UKRAINE/SECURITY COUNCILFurther on Ukraine: Assistant Secretary-General for Humanitarian Affairs Joyce Msuya briefed Security Council members this morning and said that since 1 March, not a day has passed without an attack harming civilians in that country. She said we are particularly appalled by the strikes countrywide on 7 March that killed 21 civilians and injured many more, making it one of the deadliest days this year.Across Ukraine, Ms. Msuya said, almost 13 million people need humanitarian assistance. More than 10 million Ukrainians have been forced to flee their homes, including 3.7 million of them who are internally displaced. This displacement is disproportionately affecting women and girls, heightening their exposure to gender-based violence and hindering their access to support services, she told the members of the Security Council. She told that recent funding cuts have led to a reprioritization of Ukraine response efforts that will be announced in the coming weeks. Continued financial support will be essential to maintain our operations there.
UKRAINE/HUMANITARIANFurther on Ukraine from the ground, our colleagues in Ukraine tell us that today, an inter-agency convoy delivered vital aid to one of the most affected communities in the Donetsk region. This is the fourth convoy to front-lines communities in the region this year.Humanitarians brought in six metric tonnes of medical, hygiene and other critical supplies, including those for older people, to help some 1,500 residents remaining in the community of Kostiantynivka.Local residents there face daily shelling. Homes and critical civilian infrastructure have been damaged and electricity, water and the gas supply have been disrupted.

Full Highlights: https://www.un.org/sg/en/content/ossg/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=26+March+2025

https://www.youtube.com/watch?v=zM1F1O1Svuo

MIL OSI Video –

March 27, 2025
MIL-OSI Africa: Secretary-General’s remarks to the Informal Interactive Dialogue on the Implementation of the Pact for the Future [bilingual, as delivered; scroll down for all-English version]

Source: United Nations – English

r. President of the General Assembly, Excellencies, Ladies and Gentlemen,

I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months.

From day one of the Pact for the Future’s adoption, the President has been its active champion.

I deeply appreciate your efforts, Mr. President, and your leadership.

Excellencies,

Adopting the Pact was the beginning of the process, not the end.

Today I want to focus on what we have done over the last six months — and what we need to do.

We face a long list of challenges.

Conflicts and climate disasters are intensifying.

The Sustainable Development Goals are far off-track — as is the funding required to achieve them.

Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

But let me be very clear. It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever. And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come.

Resources are shrinking across the board — and they have been for a long time.

From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our organization.

Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment.

All these will contribute for a more effective implementation of the Pact for the Future.

Excellencies,

We’ve wasted no time moving into the implementation phase of the Pact.

From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas:

Sustainable Development Goals acceleration…peace and security… international financial architecture…digital technologies…UN governance…and youth.

We’ve created two task teams focusing on future generations and the need to look beyond GDP as a measure of progress and guide to policy-making.

And we’re establishing an internal tracking system to monitor our progress on Pact implementation.

Today, I’d like to report on our efforts since the Pact was adopted, and outline the work ahead in four areas.

First — peace and security.

United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world.

The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund.

We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.

And we’re progressing on a review of all forms of Peace Operations — as requested in the Pact.

Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

It will also recognize the limitations of our operations where there is little or no peace to keep.

We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

Second — finance for development.

Since the Pact’s adoption, we’ve taken action on several fronts.

For example, our Resident Coordinators and Country Teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

We’ve begun analyzing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September.

The Expert Group called for in the Pact to develop measures of progress that go beyond Gross Domestic Product will soon be announced, and will work throughout the year before an inter-governmental process takes over in 2026.

And we’ve been working closely with the World Bank and the IMF to follow-up on the Pact’s action points addressing improvements to the international financial system.

Developing countries must be represented fairly in the governance of the very institutions they depend on.

We know the environment is not favourable.

But we must not give up.

Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt.

In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

Debt relief is a central issue if we want the implementation and the Pact for the Future a reality.

At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, to make them bigger and bolder.

This includes both stretching their balance sheets and recapitalization.

And we must ensure that concessional finance is deployed where it is most needed.

Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

Three — youth and future generations

Our efforts must deliver for young people and the generations to come.

The Pact’s central promise to young people is to listen to their concerns and ideas, and including them at the decision-making table.

Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities.

With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

Through the Declaration on Future Generations, we’re also looking to the generations yet to be born.

We’ve established a Strategic Foresight Network and Community of Practice, to ensure our policies, programmes and field operations are based on long-term thinking.

And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

Quatrièmement : la technologie.

Nous mettons en œuvre les appels du Pacte mondial pour le numérique pour combler toutes les fractures numériques et veiller à ce que tout le monde puisse bénéficier d’un espace numérique sûr et sécurisé.

L’intelligence artificielle fait l’objet d’une attention particulière.

Nous élaborons un rapport sur les options novatrices de financement volontaire qui permettraient de renforcer les capacités en matière d’intelligence artificielle afin d’aider les pays du Sud à exploiter cette technologie au service de l’intérêt général – en tenant compte des recommandations formulées par mon Organe consultatif de haut niveau.

Un avant-projet de résolution visant à établir le Groupe scientifique international indépendant sur l’IA et à organiser un Dialogue mondial sur la gouvernance de l’IA a été distribué la semaine dernière – grâce au travail des co-facilitateurs, l’Espagne et le Costa Rica.

J’invite l’Assemblée générale à agir rapidement pour mettre sur pied ce Groupe et veiller à ce que le savoir-faire et les connaissances en matière d’IA soient mis à la disposition de tous les pays – tout en soutenant le Dialogue mondial.

L’ensemble du système de l’ONU se tient prêt à soutenir ces travaux.

Excellences,

Tout en défendant ces priorités, nous nous attelons par ailleurs à améliorer l’efficience et l’efficacité de nos opérations – comme l’exige le Pacte.

L’automne dernier, nous avons entrepris une évaluation complète dans l’ensemble des entités de l’ONU afin d’exploiter le potentiel de l’innovation, de l’analyse des données, de la transformation numérique et de la prospective dans l’ensemble de nos travaux – conformément à l’initiative ONU 2.0.

Les résultats sont déjà au rendez-vous : nous avons par exemple été capable de constater une accélération de l’évaluation des catastrophes dans la région Asie-Pacifique, un renforcement des programmes de sécurité sociale au Malawi, ou encore une consolidation des fonctions relatives à l’informatique dans l’ensemble du système des Nations Unies.

Ces efforts, où les données sont une question essentielle pour que nous puissions faire une bien meilleure gestion de ces données – ces efforts doivent se poursuivre, en particulier au regard des problèmes de financement auxquels nous devons faire face.

Nous comptons sur votre soutien pour mener ce travail à bien.

Excellences,

Alors que nous œuvrons pour remodeler le système multilatéral et ainsi relever les défis du monde d’aujourd’hui, le Pacte pour l’avenir est un rouage essentiel de ce processus de renouvellement constant.

Nous ne pouvons pas diluer nos efforts.

Gardons intact l’esprit et la détermination qui ont permis de forger et d’adopter le Pacte.

Nous comptons sur vous pour éclairer, inspirer et guider le travail de mise en œuvre à venir.

Une fois encore, merci pour vos idées et votre engagement.

***
[All-English]

Mr. President of the General Assembly, Excellencies, Ladies and Gentlemen,

I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months.

From day one of the Pact for the Future’s adoption, the President has been its active champion.

I deeply appreciate your efforts, Mr. President, and your leadership.

Excellencies,

Adopting the Pact was the beginning of the process, not the end.

Today I want to focus on what we have done over the last six months — and what we need to do.

We face a long list of challenges.

Conflicts and climate disasters are intensifying.

The Sustainable Development Goals are far off-track — as is the funding required to achieve them.

Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

But let me be very clear. It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever. And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come.

Resources are shrinking across the board — and they have been for a long time.

From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our organization.

Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment.

All these will contribute for a more effective implementation of the Pact for the Future.

Excellencies,

We’ve wasted no time moving into the implementation phase of the Pact.

From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas:

Sustainable Development Goals acceleration…peace and security… international financial architecture…digital technologies…UN governance…and youth.

We’ve created two task teams focusing on future generations and the need to look beyond GDP as a measure of progress and guide to policy-making.

And we’re establishing an internal tracking system to monitor our progress on Pact implementation.

Today, I’d like to report on our efforts since the Pact was adopted, and outline the work ahead in four areas.

First — peace and security.

United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world.

The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund.

We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.

And we’re progressing on a review of all forms of Peace Operations — as requested in the Pact.

Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

It will also recognize the limitations of our operations where there is little or no peace to keep.

We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

Second — finance for development.

Since the Pact’s adoption, we’ve taken action on several fronts.

For example, our Resident Coordinators and Country Teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

We’ve begun analyzing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September.

The Expert Group called for in the Pact to develop measures of progress that go beyond Gross Domestic Product will soon be announced, and will work throughout the year before an inter-governmental process takes over in 2026.

And we’ve been working closely with the World Bank and the IMF to follow-up on the Pact’s action points addressing improvements to the international financial system.

Developing countries must be represented fairly in the governance of the very institutions they depend on.

We know the environment is not favourable.

But we must not give up.

Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt.

In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

Debt relief is a central issue if we want the implementation and the Pact for the Future a reality.

At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, to make them bigger and bolder.

This includes both stretching their balance sheets and recapitalization.

And we must ensure that concessional finance is deployed where it is most needed.

Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

Three — youth and future generations

Our efforts must deliver for young people and the generations to come.

The Pact’s central promise to young people is to listen to their concerns and ideas, and including them at the decision-making table.

Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities.

With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

Through the Declaration on Future Generations, we’re also looking to the generations yet to be born.

We’ve established a Strategic Foresight Network and Community of Practice, to ensure our policies, programmes and field operations are based on long-term thinking.

And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

Fourth — technology.

We’re implementing the Global Digital Compact’s calls to close all digital divides and ensure all people benefit from a safe and secure digital space.

Artificial Intelligence is a particular focus.

We’re developing a report on innovative voluntary financing options for AI capacity-building to help the Global South harness AI for the greater good, taking into account the recommendations of my High-Level Advisory Body.

The zero draft resolution to establish the International Independent Scientific Panel on AI and convene a Global Dialogue on AI Governance was also circulated last week — thanks to the work of the co-facilitators, Spain and Costa Rica.

I urge the General Assembly to act swiftly to establish this Panel, and ensure that AI expertise and knowledge are available to all countries, while supporting the Global Dialogue.

The UN system stands ready to support this work.

Excellencies,

As we push for these priorities, we’re also improving the efficiency and effectiveness of our operations, as called for by the Pact.

Last fall, we undertook a comprehensive assessment across UN entities to harness the potential of innovation, data analytics, digital transformation and foresight across our work — as called for in the UN 2.0 initiative.

We’re already seeing results: from speeding-up disaster assessments in the Asia-Pacific, to strengthening social security programmes in Malawi, to consolidating Information Technology functions across the UN System.

This work must continue — especially in light of the funding challenges we face.

We’re counting on your support as we move forward.

Excellencies,

The Pact for the Future is an essential part of this process of constant renewal, as we re-shape the multilateral system for the challenges of today’s world.

We cannot dilute our efforts.

We need to sustain the same spirit and determination in which the Pact was forged and adopted.

We count on you to inform, inspire and guide the implementation work ahead.

Once again, thank you for your ideas and commitment.

MIL OSI Africa –

March 27, 2025
MIL-OSI Europe: Written question – EU regulatory environment, artificial intelligence and competitiveness – E-001181/2025
Source: European Parliament
Question for written answer E-001181/2025
to the Commission
Rule 144
Michalis Hadjipantela (PPE)

The Commission has been clear since the beginning of its term of office that the competitiveness of the EU economy is a key priority for this term. Yet, the EU regulatory environment remains fragmented and inconsistent, and is preventing new technologies from reaching Europe. Companies do not have clarity on how to comply with the specific requirements of EU rules and continue to face barriers to entering our market. For example, the world’s leading artificial intelligence (AI) and technology developers have withheld the latest cutting-edge products from the EU, blaming this on the EU’s strict and incoherent interpretation of rules, particularly related to privacy, data protection and competition.

1.Does the Commission agree that the current regulatory environment is preventing EU consumers, businesses and the public sector from accessing innovation at the same pace as the rest of the world, therefore contributing to limiting EU competitiveness?

2.How does the Commission plan to address these regulatory roadblocks and prevent the EU from falling further behind on innovation, including in the global AI race, while maintaining data protection and privacy?

3.Will the Commission promote the right to innovate in the EU and push for a competitiveness check for existing and new regulatory initiatives?

Submitted: 19.3.2025
Last updated: 26 March 2025
MIL OSI Europe News –
March 27, 2025
MIL-OSI Europe: Written question – Potential for applying freedom of speech protections to content created or published through automated processes – E-001160/2025
Source: European Parliament
Question for written answer E-001160/2025
to the Commission
Rule 144
Christine Anderson (ESN)

Freedom of speech is of the utmost importance, particularly in an online context. Due to the digital medium, freedom of speech manifests itself in various new forms. For instance, automatically generated content published by news sites according to predefined rules and procedures, content collected from the internet and edited by artificial intelligence before publication (with or without human oversight) and user-generated content. Consequently, the question arises regarding the potential for applying freedom of speech protections to content created or published through automated processes.

1.Does the Commission agree that automatically generated and published content following rules established by humans falls under the principle of freedom of speech, thereby making existing legal protections fully applicable?

2.Provided they are not controlled by fully autonomous artificial general intelligence, does the Commission agree that content generated by human-designed bots should also enjoy freedom of speech protections, as these operate based on rules created by individuals who themselves possess freedom of speech?

3.Does the Commission acknowledge that distinguishing between online bots and humans can often be very challenging, and in cases of uncertainty, does it further agree that online expressions should by default be considered human authored and thus fully protected under freedom of speech principles, unless there is clear evidence to the contrary?

Submitted: 19.3.2025
Last updated: 26 March 2025
MIL OSI Europe News –
March 27, 2025
MIL-OSI Europe: Written question – Potential financing of EU projects by USAID – E-000928/2025
Source: European Parliament
Question for written answer E-000928/2025/rev.1
to the Commission
Rule 144
Alexander Jungbluth (ESN)

The United States Governmental Agency for International Development (USAID) is suspected of having hugely influenced the political decision-making process in EU Member States, among others, by making payments in the billions to questionable NGOs and media outlets worldwide. After US President Donald Trump put an end to these alleged illegal activities, according to Hungarian Prime Minister Viktor Orbán, 63 NGOs tied to George Soros applied for EU funding.[1]

1.Can the Commission confirm that 63 George Soros-linked NGOs have requested EU funding? If so, which ones, how much money has been applied for, for what intended purpose and has any funding been approved?

2.Has the Commission itself or any organisation associated with it ever received money from USAID or any USAID-linked body and, if so, how much and for what purpose?

3.What specific action is the Commission taking to prevent foreign funding from influencing the political decision-making process in EU Member States?

Submitted: 5.3.2025

[1] https://x.com/PM_ViktorOrban/status/1891788592730476821
Last updated: 26 March 2025
MIL OSI Europe News –
March 27, 2025
MIL-OSI Europe: Switzerland signs Council of Europe Convention on Artificial Intelligence

Source: Switzerland – Federal Administration in English

On 27 March Federal Councillor Albert Rösti will sign the Council of Europe Convention on Artificial Intelligence and Human Rights, Democracy and the Rule of Law in Strasbourg on Switzerland’s behalf. By signing the agreement, Switzerland is reaffirming its commitment to the responsible use of AI technologies in accordance with fundamental rights.

MIL OSI Europe News –

March 27, 2025
MIL-OSI Australia: ABC South East Breakfast with Eddie Williams

Source: Workplace Gender Equality Agency

EDDIE WILLIAMS: Well, tax cuts for all workers. Energy Bill Relief. But Budget deficits as far as the eye can see. They are some of the takeaways from the Federal Budget, with a closer look at what it might mean closer to home. Kristy McBain is the Member for Eden-Monaro and the Minister for Regional Development and Local Government. Good morning.

KRISTY MCBAIN: Good morning, Eddie.

WILLIAMS: What practical difference will this Budget make in the South East?

MCBAIN: As you said, there are two new rounds of tax cuts. They’re modest tax cuts, but when they’re combined with the tax cuts that are already in the system, on average by 2026-27, Eden-Monaro taxpayers will be getting an average tax cut of $2,169. Modest changes for the next two years as those two rounds come in, but when we look at the cumulative total, that is good news for workers right across our communities. Obviously, the new round of Urgent Care Clinics, another 50 to the 87 that are already out there in our communities. One of those areas is going to be in the Bega Valley.

WILLIAMS: Whether it’s health or whether it’s housing, the challenges that regional and rural Australia face play out a bit differently to those in the city. The National Rural Health Alliance says there’s a lack of a targeted strategy to address those unique health challenges in rural communities. Is the Government taking any specific steps to address those specific issues in regional Australia?

MCBAIN: We’ve obviously made an announcement about $8.5 billion to strengthen Medicare. There’s a huge amount of money in there, which is all about the health workforce. $662.6 million, which is about growing our health workforce. There’ll be hundreds more GP and rural generalist training places. There are 100 more Commonwealth supported university places for medical students from next year. There are hundreds of scholarships for nurses and midwives to continue to grow their skill set. There are more incentives for our doctors to work in regional and rural Australia, and that builds on our previous announcement to wipe HECS for doctors and nurse practitioners to work in rural and remote Australia. We know it’s really important to deal with the health workforce side of things. It’s not a quick fix to grow our doctor numbers and make sure that they’re trained up and ready to go in our regions, which is why we’re investing really heavily in it. It’s something that should have been happening for decades and unfortunately wasn’t. We’ve seen the freezing of Medicare rebates, which has significantly hampered GP numbers, but we are seeing more students go through and enter our GP training courses now than we have seen in a number of years.

WILLIAMS: The Budget is forecast to remain in structural deficit for the next decade. Net debt is rising. Is the Government making any effort at all to pay down Australia’s debt?

MCBAIN: We’ve made some significant inroads into that. We’ve reduced the overall national debt by over $170 billion. It will mean that as taxpayers, we’re paying $70 billion less in interest on that debt. Even in this Budget, there’s been $2 billion worth of savings found. Over the four budgets we’ve done there’s been $90 billion of savings made through cutting wastage and rorts, and making sure our departments are working efficiently and effectively. We’ve seen the fruits of that labour by making sure we’ve got Government departments working well. During Cyclone Alfred, where NEMA did such a fantastic job of coordinating response and recovery efforts. Where Services Australia were out on the ground making sure payments were rolled out to people directly impacted. The national emergency stockpile delivering out sandbags, pre-placing generators, and making sure we had a heavy lift helicopters pre-placed in Queensland and New South Wales. You can see the fruits of better, more effective coordination when it comes to those real time disasters.

WILLIAMS: 7:15 on ABC South East. If you want to have your say on the Budget, you can call or text 0467 902 684. Joe raises the issue of Ex-tropical Cyclone Alfred, and she says she’s disappointed that the Budget doesn’t seem to have anything new on climate adaptation or emissions reduction. Is that an area where the Government’s dropped the ball?

MCBAIN: We’ve been the only Government to really take forward climate action for decades. A legislated emissions reduction target. There’s been significant work on pre-preparing places by having the National Emergency Management Agency set up, which came into effect after we took Government. We’ve had the Disaster Ready fund, which is all about resilience and mitigation in our communities. Something that local governments and insurance companies were calling for to make sure our infrastructure was ready to go. We’ve seen that with the Watergums Bridge in Womboin, a significant investment by the three levels of government to ensure that a community doesn’t get cut off every time it rains and there is a flood. So there’s been some heavy work in that space and that will continue.

WILLIAMS: Phil at Bombala asks why Australia can’t build manufacturing again to survive a changing world. The Government’s spoken a lot about its Future Made in Australia policies. How realistic is a manufacturing industry future in Australia?

MCBAIN: We’ve said from day one that we need to invest heavily in a Future Made in Australia, and in our last Budget we committed $22 billion towards that very thing. We’ve seen with our National Reconstruction Fund, equity stakes taken in manufacturing mining equipment in Toowoomba, working with some of our defence primes to manufacture more things in this country. There is a significant commitment to making sure we manufacture more in Australia, including the stake that we’ve taken now in South Australian steel manufacturing. It is really important as a country that is a little bit further away from the rest of the world, that we do learn the lessons of COVID, that we are more self-sustainable, and we’re a Government that’s committed to that and putting money into it.

WILLIAMS: Will you match the funding commitment that the coalition has made to help upgrade the bigger pool?

MCBAIN: I’ll have more to say in the coming days and weeks on my election commitments for the Bega Valley and for Eden-Monaro as a whole, but I’m incredibly proud to have secured tens of millions of dollars in funding for local roads, for community infrastructure, and for other critical projects to date. The way I work is working with our local communities to make sure projects that are funded are key priorities.

WILLIAMS: Kristy McBain, appreciate your time this morning. Thank you.

MCBAIN: Good to be with you.

MIL OSI News –

March 27, 2025
MIL-OSI: Usio Increases and Extends Share Repurchase Program

Source: GlobeNewswire (MIL-OSI)

SAN ANTONIO, March 26, 2025 (GLOBE NEWSWIRE) — Usio, Inc: (Nasdaq: USIO), a leading FinTech company that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions, today announced that its Board of Directors has authorized to renew the Company’s Share Repurchase Program for an additional 3 years or until funds are depleted, with an aggregate total purchase limit of $4,000,000. The original May 15, 2025 expiration date has been extended to May 15, 2028.

“Usio has utilized virtually all of the original $4 Million the Board of Directors authorized to buyback shares in May 2022, including the repurchase of $1.5 million in stock in 2024. The management team and Board of Directors remain highly confident in the Company’s intrinsic value, and believe the new, Usio ONE initiative will prove a catalyst to unlocking the Company’s significant inherent value,” stated Louis Hoch, President and CEO of Usio. “Having generated positive cash flow over the past several years, and expecting to do so again this year, repurchasing our shares represents another means to create value for our shareholders.”

The timing and the amount of any repurchases of common stock will be determined by Usio’s management based on the market price of Usio common stock, evaluation of market and economic conditions and other factors. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time.

As of December 31, 2024, the Company had unrestricted cash of approximately $8.1 million.

The Company had approximately 26.5 million shares of common stock outstanding as of March 24, 2025.

Repurchases may be made in open market purchases, block trades or in privately negotiated transactions. Repurchases, if any, under the program will be made at the discretion of management, and will depend upon market pricing and conditions, business, legal, accounting and other considerations. Open market purchases will be conducted in accordance with the limitations of Rule 10b-18 of the Securities and Exchange Commission (the “SEC”). Repurchases may be made pursuant to any trading plan that may be adopted in accordance with SEC Rule 10b5-1, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. Under applicable law, repurchased shares will be cancelled and revert to the status of authorized but unissued shares.

The repurchase program may be modified, suspended or terminated at any time without notice, in the Company’s discretion, based upon a number of factors, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, the need for capital in the Company’s operations and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to repurchase any shares.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), is a leading Fintech that operates a full stack of proprietary, cloud-based integrated payment and embedded financial solutions in a single ecosystem to a wide range of merchants, billers, banks, service bureaus and card issuers. The Company operates credit/debit and ACH payment processing platforms, as well as a turn-key card issuing platform to deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has a development office in Austin, Texas.

Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.

FORWARD-LOOKING STATEMENTS DISCLAIMER

Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “could,” “should,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2024. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

Contact:

Paul Manley
Senior Vice President, Investor Relations
Paul.Manley@usio.com
612-834-1804

The MIL Network –

March 27, 2025

MIL-OSI: Oxbridge Re Holdings Limited Reports Fiscal 2024 Results

Source: GlobeNewswire (MIL-OSI)

GRAND CAYMAN, Cayman Islands, March 26, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (“Oxbridge Re” or the “Company”), which together with its subsidiaries, is engaged in the business of tokenized Real-World Assets (“RWAs”), initially in the form of tokenized reinsurance securities, and reinsurance business solutions to property and casualty insurers in the Gulf Coast region of the United States, today reported its results for the three months and year ended December 31, 2024.

“SurancePlus is entering its third year in the Real World Asset (RWA) space, leveraging blockchain technology to tokenize targeted reinsurance contracts. As a Nasdaq-listed company, Oxbridge Re, through its subsidiary SurancePlus Inc., became the first public company to issue a security token in reinsurance—bridging the gap between the SEC, blockchain, and tokenization. This innovation significantly lowers the barrier to entry for an asset class that traditionally required millions of dollars to access, enabling participation with as little as $5,000 while maintaining rigorous AML and accreditation checks—often completed in under four minutes,” said Jay Madhu, Chairman and Chief Executive Officer of Oxbridge Re. “We are proud of our success in this space and look forward to further expanding SurancePlus in the Security Token and RWA sector, effectively democratizing access to reinsurance while ensuring strict transparency and compliance. With the RWA tokenization market currently projected to reach as much as $30 trillion by 2030, SurancePlus is well positioned to capitalize on this substantial growth opportunity.”

Mr. Madhu continued “Subsequent to the year end, the Company completed a reverse direct offering raising gross proceeds of $3 million. These steps reflect our continued focus on strengthening the Company’s capital position while pursuing scalable growth opportunities in a rapidly evolving market. Looking ahead, we believe Oxbridge Re is well positioned to build on this momentum. Our subsidiary, SurancePlus Inc. has recently announced a strategic partnership with Plume, a blockchain platform supporting over $4.5 billion in assets and more than 18 million unique addresses. This collaboration marks a significant milestone in expanding distribution for our tokenized reinsurance offerings. As institutional and retail interest in real-world asset tokenization continues to accelerate, we remain focused on scaling our platform with discipline, transparency, and regulatory compliance. Furthermore, SurancePlus has launched its 2025–2026 tokenized reinsurance offerings, introducing a new balanced-yield security targeting a 20% annual return, while continuing its high-yield offering targeting a 42% annual return. By broadening our range of risk-return options, this year’s structure is designed to attract to a broader investor base, reinforcing our mission to make institutional-grade reinsurance accessible through compliant, blockchain-powered real-world assets.”

Financial Performance

Net premiums earned for the three months ended December 31, 2024, were $595,000 compared to $523,000 in the prior year. For the year ended December 31, 2024, net premiums earned increased to $2,303,000 from $1,255,000 in the prior year. This increase is primarily attributed to the higher rates on contracts as well as the prior period recognizing only seven months of premiums due to the acceleration of premiums on contracts in force during at December 31, 2022. In contrast, the current year ended December 31, 2024 accounted for a full twelve (12) months of premiums.

For the three months ended December 31, 2024, the Company generated net loss of $460,000 or $0.05 per basic and diluted loss per share compared to a net loss of $2.67 million or $0.46 per basic and diluted earnings per share in the fourth quarter of 2023. For the year ended December 31, 2024, the Company incurred a net loss of $2.7 million or $0.45 per basic and diluted loss per share compared to net loss of $9.9 million or $1.69 per basic and diluted earnings per share in the prior year. The decline in Q4 and fiscal 2024 is primarily due to a decrease in the negative change in the fair value of our investment in Jet.AI (which was sold subsequent to the year-end) as well as the company accounting for non-controlling interests’ portion of its income.

Total expenses, including losses and loss adjustment expenses, policy acquisition costs and general and administrative expenses, were $497,000 and $2.1 million for the three months and year ended December 31, 2024, respectively, compared to $535,000 and $2.3 million, respectively, for the same periods in the prior year. The decrease in 2024 is due to expense fluctuations along with efficiencies associated with SurancePlus offerings being recognized during the year, in addition to previous recognition of costs associated with Maxim equity distribution agreement in 2023.

At December 31, 2024, cash and cash equivalents, and restricted cash and cash equivalents were $5.8 million compared to $3.7 million at December 31, 2023.The increase is primarily due to new collateral deposits for treaty year ending May 31, 2025 more than offsetting funds being released from the underlying trusts for treaty year ending May 31, 2024.

Subsequent to year end, the Company completed a reverse direct offering raising gross proceeds of $3 million.

Financial Ratios

Loss Ratio. The loss ratio, which measures underwriting profitability, is the ratio of losses and loss adjustment expenses incurred to net premiums earned. The loss ratio remained consistent at 0% for the year ended December 31, 2024 and 2023.

Acquisition Cost Ratio. The acquisition cost ratio, which measures operational efficiency, compares policy acquisition costs with net premiums earned, decreased marginally to 11.0% for the year ended December 31, 2024 from 11.2% in the prior year.

Expense Ratio. The expense ratio, which measures operating performance, compares policy acquisition costs and general and administrative expenses with net premiums earned. The expense ratio decreased to 94.3% for the year ended December 31, 2024, from 185.2% for the prior year due to lower general and administrative expenses in 2024. The decrease is due to the higher levels of premium earned and lower general administrative expenses incurred during the year ended December 31, 2024.

Combined ratio. The combined ratio, which is used to measure underwriting performance, is the sum of the loss ratio and the expense ratio. The combined ratio decreased to 94.3% for the year ended December 31, 2024, from 185.2% for the prior year. The decrease is due to the higher levels of premium earned and lower general administrative expenses incurred during the year ended December 31, 2024.

Conference Call

Management will host a conference call later today to discuss these financial results, followed by a question and answer session. President and Chief Executive Officer Jay Madhu and Chief Financial Officer Wrendon Timothy will host the call starting at 4:30 p.m. Eastern time.

Date: March 26, 2025
Time: 4.30 p.m. Eastern Time
Toll-free number: – 877-524-8416
International number: +1 412-902-1028

Please call the conference telephone number 15 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact InComm Conferencing at +1-201-493-6280
media@incommconferencing.com

A replay of the call will be available by telephone replay after 7:30 p.m. Eastern Time on the same day of the call until April 09, 2025.

Toll-free replay number: 877-660-6853
International replay number: +1-201-612-7415
Conference ID: 13752504

About Oxbridge Re Holdings Limited

Oxbridge Re Holdings Limited (www.OxbridgeRe.com) (NASDAQ: OXBR, OXBRW) (“Oxbridge Re”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its subsidiaries Oxbridge Re NS, SurancePlus Inc. and Oxbridge Reinsurance Limited.

Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Re NS and Oxbridge Reinsurance Limited.

Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2025. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

Company Contact:
Oxbridge Re Holdings Limited
Jay Madhu, CEO
345-749-7570
jmadhu@oxbridgere.com

OXBRIDGE RE HOLDINGS LIMITED AND SUBSIDIARIES

Consolidated Balance Sheets

(expressed in thousands of U.S. Dollars, except per share and share amounts)

	At December 31,
	2024			2023

Assets
Investments:
Equity securities, at fair value (cost : $1,532 and $1,926)		113			680
Cash and cash equivalents		2,135			495
Restricted cash and cash equivalents		3,758			3,250
Premiums receivable		1,059			977
Other investments		48			2,478
Loan Receivable		–			100
Due from related party		–			63
Deferred policy acquisition costs		109			101
Operating lease right-of-use assets		148			9
Prepayment and other assets		94			96
Property and equipment, net		1			4
Total assets	$	7,465			8,253

Liabilities and Shareholders’ Equity
Liabilities:
Notes payable to EpsilonCat Re and DeltaCat Re Token Holders		1,732			1,523
Notes payable to noteholders		118			118
Unearned premiums reserve		991			915
Operating lease liabilities		148			9
Accounts payable and other liabilities		366			356
Total liabilities		3,355			2,921

Shareholders’ equity:
Ordinary share capital, (par value $0.001, 50,000,000 shares authorized; 6,379,002 and 5,870,234 shares issued and outstanding)		6			6
Additional paid-in capital		34,105			32,740
Accumulated Deficit		(30,163	)		(27,414	)
Total Oxbridge shareholders’ equity		3,948			5,332
Non-controlling interests		162			–
Total shareholders’ equity		4,110			5,332
Total liabilities and shareholders’ equity		7,465			8,253

OXBRIDGE RE HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Statements of Operations
(Unaudited)
(expressed in thousands of U.S. Dollars, except per share amounts)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023

Revenue
Assumed premiums		–			(26	)		2,379			2,170
Change in unearned premiums reserve		595			549			(76	)		(915	)

Net premiums earned		595			523			2,303			1,255
SurancePlus Management Fee Income		–			–			312			300
Net investment and other income		60			62			248			303
Interest and gain on redemption of Series A-1 Preferred Shares		47			–			47			–
Interest and gain on redemption of loan receivable		–			–			41			–
Unrealized loss on other investments		(208	)		(2,561	)		(2,145	)		(8,945	)
Change in fair value of equity securities		(72	)		71			(260	)		38

Total revenue	$	422			(1,905	)	$	546			(7,049	)

Expenses
Policy acquisition costs and underwriting expenses		66			61			254			141
General and administrative expenses		431			474			1,917			2,183

Total expenses	$	497			535		$	2,171			2,324

Loss before income attributable to tokenholders and non-controlling interests		(75	)		(2,440	)		(1,625	)		(9,373	)

Income attributable to tokenholders		(246	)		(232	)		(962	)		(542	)
Loss before income attributable to non-controlling interests		(321	)		(2,672	)		(2,587	)		(9,915	)

Income attributable to non-controlling interests		(139	)		–			(139	)		–

Net loss attributable to ordinary shareholders		(460	)		(2,672	)		(2,726	)		(9,915	)

Loss per share attributable to ordinary shareholders
Basic and Diluted		(0.05	)		(0.46	)		(0.45	)		(1.69	)

Weighted-average shares outstanding
Basic and Diluted		6,121,020			5,870,234			6,099,051			5,867,129

Performance ratios to net premiums earned:
Loss ratio		0.0	%		0.0	%		0.0	%		0.0	%
Acquisition cost ratio		11.1	%		11.7	%		11.0	%		11.2	%
Expense ratio		83.5	%		102.3	%		94.3	%		185.2	%
Combined ratio		83.5	%		102.3	%		94.3	%		185.2	%

The MIL Network –

March 27, 2025

MIL-OSI: Usio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02 per share and Full Year GAAP Earnings of $0.12 per share

Source: GlobeNewswire (MIL-OSI)

Full Year Revenues up in each of ACH & Complementary Services, Card and Output Solutions Business Units

Record Full Year 2024 Dollar Processing Volume of $7.1 Billion, a 33% Increase Compared to Fiscal 2023; Transactions Processed also up a Strong 26% Year-over-Year

Cash Position Increases to Record High of $8.1 Million

SAN ANTONIO, March 26, 2025 (GLOBE NEWSWIRE) — Usio, Inc: (Nasdaq: USIO), a leading FinTech company that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions, today announced financial results for the fourth quarter and year ended December 31, 2024.

Louis Hoch, Chairman and Chief Executive Officer of Usio, said, “We are delivering on our commitments as profitability improved, cash flow was strong, and revenue grew in each of our ACH & Complementary Services, Card and Output Solutions businesses in both the fourth quarter and full year 2024. We also delivered another year of positive Adjusted EBITDA¹. Results were driven across Usio by a 33% increase in total dollar processing volume, which rose to $7.1 billion from $5.3 billion in 2023, while transactions processed reached record levels on 26% year-over-year growth. We attribute this solid revenue performance to our innovative technology and complementary business strategy while the bottom line continues to improve as we implement our disciplined cost control and enhance our results through operating leverage that our business model provides.

“For the quarter, we reported top line growth as well as our third consecutive quarter of positive GAAP net income, approximately $0.6 million, or $0.02 per share. For both the quarter and the year, revenues were up in three of our business units, and in the fourth, prepaid revenues were up when excluding the COVID incentive programs that was essentially wound down in fiscal 2023. Cash flow remains strong, enabling us to bolster our balance sheet, which provides us with resources to support our growth initiatives. In addition, cash flow in 2024 was also used to repurchase $1.4 million of our stock. And, today, the Board reauthorized a new repurchase agreement of $4 million which further illustrates our confidence in the business’ long-term prospects. Together, this is a strong set up for what we believe will be another year of both top line and Adjusted EBITDA¹ growth in 2025.”

Momentum continues to accelerate in ACH and complementary services, with revenues up 17% in the quarter and 12% for the year, in large part reflecting success cross-selling ACH into existing Card and Prepaid accounts. Card revenue growth remains solid, up 6% for the quarter and 3% for the year, led by PayFac, where revenues were up 29% in the quarter, and 22% on the year. Output Solutions had a strong fourth quarter, growing revenues a healthy 13%, which drove the business to full year growth after facing headwinds in prior quarters during the year. Total dollars loaded on prepaid cards exceeded $111 million in the fourth quarter, the sixth consecutive quarter of over $100 million in prepaid card loads. Fiscal 2024 revenues comparisons in prepaid continue to reflect last year’s expiration of COVID incentive programs, but we believe that Prepaid should begin to benefit from the over 90 client agreements signed in 2024 and a more concerted focus on recurring revenue, ‘evergreen’ clients.”

Gross profits and margins were down modestly for both the quarter and the year, due primarily to product mix. Selling, general and administrative expenses were up just 3% for the year, reflecting continued strong expense control. The Company closed the 2024 fiscal year with $8.1 million cash on hand compared to year end cash of $7.2 million in 2023. The Company expects this trend of positive cash growth to continue in fiscal 2025.

Mr. Hoch concluded, “In 2024 our various growth initiatives enabled us to regain nearly all of the revenue lost with the planned expiration of large COVID related card programs while improving profitability and further strengthening our financial position. More importantly, we are fully embarking on our new One Usio strategy, better integrating all of our various product offerings so that we approach the market as a unified force with a portfolio of capabilities that can meet our customer’s various electronic payment and associated needs. Already, we are seeing success selling multiple, complementary Usio products to an increasing number of clients who benefit from the synergies and efficiencies that arise from consolidating their relationships. While this has always been one of our competitive advantages, in 2025 we are redoubling our efforts and organizing around this concept to better unlock the inherent value of this strategy. At the same time, we believe we have the infrastructure to support our growth initiatives such that we can expect to see continued improvement in our operating leverage. We believe 2025 will be another year of growth as we create value for our shareholders.”

Fiscal 2025 Guidance

The Company continues to expect strong 14 – 16% growth in revenue in 2025 while also anticipating Adjusted EBITDA¹ margins in the 5 – 7% range. Guidance is conditioned on no appreciable deterioration in economic conditions.

Fourth Quarter 2024 Financial Summary

Revenues were $20.6 million for the fourth quarter, up 2% compared to $20.1 million in the same period in 2023.

	Three Months Ended December 31,
	(in millions, except percentages)
	2024		2023		$ Change			% Change

ACH and complementary service revenue	$	4.6	$	3.9	$	0.7			17	%
Credit card revenue		7.2		6.9		0.4			6	%
Prepaid card services revenue		3.0		4.0		(1.0	)		(24	)%
Output Solutions revenue		5.1		4.6		0.6			13	%
Interest – ACH and complementary services		0.2		0.2		(0.1	)		(22	)%
Interest – Prepaid card services		0.3		0.5		(0.2	)		(41	)%
Interest – Output Solutions		0.0		0.0		0.0			73	%
Total Revenue	$	20.6	$	20.1	$	0.4			2	%

Revenue growth was primarily attributable to 17% growth in our ACH and complementary services revenue, alongside 13% growth in Output solutions, helping offset a 24% decrease in Prepaid revenues associated with the anticipated wind down of COVID incentive programs in 2024. Credit card revenues also saw a 6% increase, due to the success of our PayFac portfolio achieving 29% growth in the quarter, mitigating the continued attrition of our legacy credit card portfolios.

Gross profits were $5.1 million, down 4% from $5.3 million for the in 2023. Gross margins were 24.6% compared to 26.1% in the same period in 2023. Gross margins in the quarter primarily reflect a shift in revenue mix, and a decline in interest revenues versus the prior year period due to the lower interest rates in the period.

The Company had an operating loss of $0.6 million, compared to an operating loss of $0.0 million from the same period in 2023.

Adjusted EBITDA¹ was positive $0.5 million in the quarter, down $0.5 million from $1.1 million in the same period in 2023, due primarily to lower gross profit margins, and an 8% increase in SG&A expense.

For the quarter, the Company generated $0.5 million of interest revenue compared to $0.8 million in the year ago quarter.

Net income for the fourth quarter of 2024 was $0.6 million, or $0.02 per share, compared to net income of $0.03 million or $0.00 per share for the same period in 2023. Results in the current quarter primarily by the receipt and recognition of approximately $1.5 million in funds related to the employee retention tax credit made available through the CARES Act, and extended through the American Rescue Plan Act.

During the quarter, the Company repurchased 331,222 shares of its stock at an average price of $1.46 for a total cost of $482,426 as part of its share buyback program.

¹ See reconciliation of non-GAAP financial measures below.

Financial Results for Full Year 2024

Revenues for 2024 were $82.9 million, down 1% from $84.1 million for the same period in 2023.

	Year Ended December 31,
	(in millions, except percentages)
	2024		2023		$ Change			% Change

ACH and complementary service revenue	$	16.7	$	14.9	$	1.8			12	%
Credit card revenue	29.3			28.5		0.8			3	%
Prepaid card services revenue		14.1		18.7		(4.6	)		(25	)%
Output Solutions revenue		20.6		20.5		0.1			1	%
Interest – ACH and complementary services		0.8		0.5		0.3			59	%
Interest – Prepaid card services		1.3		0.9		0.4			44	%
Interest – Output Solutions		0.2		0.0		0.1			220	%
Total Revenue	$	82.9	$	84.1	$	(1.1	)		(1	)%

The Company experienced strong revenue growth in its ACH and complementary services business segment, seeing an $1.8 million, or 12% increase over 2023. This revenue growth, alongside a 55% increase in aggregate interest revenues, helped to offset the 25% decline in our prepaid card services, as we saw the anticipated wind down of revenues associated with COVID incentive programs in 2024. Strong net new customer and organic growth, specifically in our corporate and commercial card programs, generated over $7 million of revenues in 2024, greatly offsetting the revenues in 2023 associated with those COVID programs. Credit card revenues were also up 3%, with PayFac growing 22% in 2024, mitigating attrition in our legacy credit card lines of business. Revenues associated with our PayFac portfolio now exceed 50% of total credit card processing revenues, and performance associated with our PayFac model is anticipated to become more representative of overall credit card revenue growth. Output Solutions revenues were up 1%, as we fully implemented our new processing equipment through the year in order to position the business unit for continued growth in 2025 due to the increased capacity, efficiency, and speed our new equipment provides.

Gross profit for the year ended December 31, 2024 was $19.6 million, down 2% from $20.1 million in fiscal 2023. Gross margins were 23.7% for the year ended December 31, 2024 compared to 23.9% in fiscal 2023, generally reflecting a shift in business mix over the year.

The Company reported $2.9 million in Adjusted EBITDA¹ for the year ended December 31, 2024, a $1.0 million decline versus $3.9 million in 2023, due primarily to slightly lower revenues and gross margin, alongside a 3% increase in SG&A expense in 2024. The Company increased its cash balance by $0.9 million, while utilizing $1.4 million on share repurchases in 2024. The Company significantly improved its net income for the year by $3.8 million to $3.3 million compared to a loss of $0.5 million for fiscal 2023 due to the recognition of an approximate $3.1 million federal tax benefit. The Company reported earnings of $0.12 per share, a significant improvement compared to loss of $(0.02) per share, in fiscal 2023.

Conference Call and Webcast

Usio, Inc.’s management will host a conference call with a live webcast Wednesday, March 26, 2025 at 4:30 pm Eastern time to provide a business update. To listen to the conference call, interested parties within the U.S. should call +1-844-883-3890. International callers should call + 1-412-317-9246. All callers should ask for the Usio conference call. The conference call will also be available through a live webcast, which can be accessed via the company’s website at www.usio.com/invest.

A replay of the call will be available approximately one hour after the end of the call through April 10, 2025. The replay can be accessed via the Company’s website or by dialing +1-877-344-7529 (U.S.) or +1-412-317-0088 (international). The replay conference playback code is 2388192.

About Usio, Inc.

Usio, Inc. (Nasdaq: USIO), is a leading Fintech that operates a full stack of proprietary, cloud-based integrated payment and embedded financial solutions in a single ecosystem to a wide range of merchants, billers, banks, service bureaus and card issuers. The Company operates credit/debit and ACH payment processing platforms, as well as a turn-key card issuing platform to deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has a development office in Austin, Texas.

Websites: www.usio.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com. Find us on Facebook® and Twitter.

About Non-GAAP Financial Measures

This press release includes non-GAAP financial measures, EBITDA, adjusted EBITDA, and adjusted EBITDA margins, as defined in Regulation G of the Securities and Exchange Act of 1934, as amended. The Company reports its financial results in compliance with GAAP, but believes that also discussing non-GAAP financial measures provides investors with financial measures it uses in the management of its business. The Company defines EBITDA as operating income (loss), before interest, taxes, depreciation and amortization of intangibles. The Company defines adjusted EBITDA as EBITDA, as defined above, plus non-cash stock option costs and certain non-recurring items, such as costs related to acquisitions. These measures may not be comparable to similarly titled measures reported by other companies. Management uses EBITDA, adjusted EBITDA, and adjusted EBITDA margins as indicators of the Company’s operating performance and ability to fund acquisitions, capital expenditures and other investments and, in the absence of refinancing options, to repay debt obligations.

In previous periods, the Company reported the non-GAAP financial measure of adjusted operating cash flows, which excluded certain items from operating cash flows to provide a measure of cash generated from its core operations. Beginning with the current reporting period, the Company is no longer presenting adjusted operating cash flows as a non-GAAP financial measure. The decision to discontinue reporting adjusted operating cash flows is due to changes in the presentation of certain assets, specifically the movement of assets held for customers, into the financing activities section of our cash flow statement. As a result of this reclassification, the need for the adjusted operating cash flows measure is no longer required, as the adjustments previously made to exclude these amounts are not necessary.

Management believes EBITDA, adjusted EBITDA, and adjusted EBITDA margins are helpful to investors in evaluating the Company’s operating performance because non-cash costs and other items that management believes are not indicative of its results of operations are excluded.

EBITDA, adjusted EBITDA, and adjusted EBITDA margins should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. They are not measurements of our financial performance under GAAP and should not be considered as alternatives to revenue, or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA, adjusted EBITDA, and adjusted EBITDA margins have limitations as analytical tools and you should not consider these Non-GAAP measures in isolation or as a substitute for analysis of our operating results as reported under GAAP.

¹ See reconciliation of non-GAAP financial measures below.

FORWARD-LOOKING STATEMENTS DISCLAIMER

Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “could,” “should,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2024. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.

Contact:

Paul Manley
Senior Vice President, Investor Relations
Paul.Manley@usio.com
612-834-1804

USIO, INC. CONSOLIDATED BALANCE SHEETS

	December 31, 2024			December 31, 2023
ASSETS
Cash and cash equivalents	$	8,056,891		$	7,155,687
Accounts receivable		5,053,639			5,564,138
Accounts receivable, tax credit		1,494,612			—
Settlement processing assets		47,104,006			44,899,603
Prepaid card load assets		25,648,688			31,578,973
Customer deposits		1,918,805			1,865,731
Inventory		403,796			422,808
Prepaid expenses and other		585,500			444,071
Current assets before merchant reserves		90,265,937			91,931,011
Merchant reserves		4,890,101			5,310,095
Total current assets		95,156,038			97,241,106

Property and equipment, net		3,194,818			3,660,092

Other assets:
Intangibles, net		881,346			1,753,333
Deferred tax asset		4,580,440			1,504,000
Operating lease right-of-use assets		3,037,928			2,420,782
Other assets		357,877			355,357
Total other assets		8,857,591			6,033,472

Total Assets	$	107,208,447		$	106,934,670

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	1,256,819		$	1,031,141
Accrued expenses		3,366,925			3,801,278
Operating lease liabilities, current portion		612,680			633,616
Equipment loan, current portion		147,581			107,270
Settlement processing obligations		47,104,006			44,899,603
Prepaid card load liabilities		25,648,688			31,578,973
Customer deposits		1,918,805			1,865,731
Current liabilities before merchant reserve obligations		80,055,504			83,917,612
Merchant reserve obligations		4,890,101			5,310,095
Total current liabilities		84,945,605			89,227,707

Non-current liabilities:
Equipment loan, non-current portion		571,862			718,980
Operating lease liabilities, non-current portion		2,534,017			1,919,144
Total liabilities		88,051,484			91,865,831

Commitments and Contingencies
Stockholders’ Equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized; -0- shares issued and outstanding in 2024 and 2023		—			—
Common stock, $0.001 par value, 200,000,000 shares authorized; 29,902,415 and 28,671,606 issued and 26,609,651 and 26,332,523 outstanding in 2024 and 2023 (see Note 12)		198,317			197,087
Additional paid-in capital		99,676,457			97,479,830
Treasury stock, at cost; 3,292,764 and 2,339,083 shares in 2024 and 2023 (see Note 12)		(5,770,592	)		(4,362,150	)
Deferred compensation		(6,914,563	)		(6,907,775	)
Accumulated deficit		(68,032,656	)		(71,338,153	)
Total stockholders’ equity		19,156,963			15,068,839

Total Liabilities and Stockholders’ Equity	$	107,208,447		$	106,934,670

USIO, INC. CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months Ended (unaudited)						Twelve Months Ended
	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023
Revenues	$	20,560,088		$	20,130,642		$	82,931,840		$	84,066,245
Cost of services		15,495,310			14,871,207			63,317,396			63,992,417
Gross profit		5,064,778			5,259,435			19,614,444			20,073,828

Selling, general and administrative:
Stock-based compensation		564,300			545,711			2,093,406			2,222,969
Other expenses		4,547,694			4,195,580			16,728,081			16,216,690
Depreciation and Amortization		555,581			521,932			2,263,302			2,081,533
Total operating expenses		5,667,575			5,263,223			21,084,789			20,521,192

Operating loss		(602,797	)		(3,788	)		(1,470,345	)		(447,364	)

Other income:
Interest income		116,558			103,337			464,746			219,986
Other income		1,476,272			—			1,737,685			50,000
Interest expense		(12,267	)		(3,614	)		(53,802	)		(5,202	)
Other income, net		1,580,563			99,723			2,148,629			264,784

Income (loss) before income taxes		977,766			95,935			678,284			(182,580	)

Federal income tax expense (benefit)		109,613			—			(3,076,440	)		—
State income tax expense		239,227			70,000			449,227			292,524
Income tax expense (benefit)		348,840			70,000			(2,627,213	)		292,524

Net Income (Loss)	$	628,926		$	25,935		$	3,305,497		$	(475,104	)

Earnings (Loss) Per Share
Basic income (loss) per common share:	$	0.02		$	0.00		$	0.12		$	(0.02	)
Diluted income (loss) per common share:	$	0.02		$	0.00		$	0.12		$	(0.02	)
Weighted average common shares outstanding
Basic		27,162,675			26,503,251			26,852,129			26,490,868
Diluted		27,162,675			26,503,251			26,852,129			26,490,868

USIO, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS

	December 31, 2024			December 31, 2023
Operating Activities
Net income (loss)	$	3,305,497		$	(475,104	)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation		1,391,315			1,209,506
Amortization		871,987			872,027
Loss on disposal of equipment		18,340			—
Deferred federal income tax		(3,076,440	)		—
Employee stock-based compensation		2,093,406			2,190,369
Vendor stock-based compensation		—			32,600
Non-cash revenue from return of treasury stock		—			(156,162	)
Changes in operating assets and liabilities:
Accounts receivable		510,499			(1,192,498	)
Accounts receivable, tax credit		(1,494,612	)		—
Prepaid expenses and other		(141,429	)		6,318
Operating lease right-to-use assets		(617,146	)		374,701
Other assets		(2,520	)		—
Inventory		19,012			84,547
Accounts payable and accrued expenses		(208,675	)		252,689
Operating lease liabilities		593,937			(403,506	)
Merchant reserves		(419,994	)		400,594
Customer deposits		53,074			311,609
Net cash provided by operating activities		2,896,251			3,507,690

Investing Activities
Purchases of property and equipment		(991,881	)		(834,964	)
Sale of equipment		47,500			—
Net cash used by investing activities		(944,381	)		(834,964	)

Financing Activities
Payments on equipment loan		(106,807	)		(56,992	)
Proceeds from issuance of common stock		97,663			—
Purchases of treasury stock		(1,408,442	)		(456,961	)
Assets held for customers		(3,725,882	)		6,570,747
Net cash provided (used) by financing activities		(5,143,468	)		6,056,794

Change in cash, cash equivalents, customer deposits and merchant reserves		(3,191,598	)		8,729,520
Cash, cash equivalents, customer deposits and merchant reserves, beginning of year		90,810,089			82,080,569

Cash, Cash Equivalents, Settlement Processing Assets, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Year	$	87,618,491		$	90,810,089

Supplemental disclosures of cash flow information
Cash paid during the period for:
Interest	$	53,802		$	5,202
Income taxes		290,144			116,204
Non-cash operating activities:
Right of use assets obtained in exchange for operating lease liabilities	$	1,156,543		$	–
Non-cash investing and financing activities:
Issuance of deferred stock compensation	$	1,497,300		$	2,650,505
Non-cash transaction for acquisition of equipment in exchange for note payable		—			811,819

USIO, INC. STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

	Common Stock						Additional Paid- In			Treasury			Deferred			Accumulated			Total Stockholders’
	Shares			Amount			Capital			Stock			Compensation			Deficit			Equity

Balance at December 31, 2022		27,044,900		$	195,471		$	94,048,603		$	(3,749,027	)	$	(5,697,900	)	$	(70,863,049	)	$	13,934,098

Issuance of common stock under equity incentive plan		1,731,506			1,731			3,619,315			—			(2,650,505	)		—			970,541
Reversal of deferred compensation amortization that did not vest		(115,000	)		(115	)		(188,088	)		—			103,091			—			(85,112	)
Deferred compensation amortization		—			—			—			—			1,337,539			—			1,337,539
Non-cash return of treasury stock		—			—			—			(156,162	)		—			—			(156,162	)
Purchase of treasury stock		—			—			—			(456,961	)		—			—			(456,961	)
Net loss		—			—			—			—			—			(475,104	)		(475,104	)

Balance at December 31, 2023		28,661,406		$	197,087		$	97,479,830		$	(4,362,150	)	$	(6,907,775	)	$	(71,338,153	)	$	15,068,839

Issuance of common stock under equity incentive plan		1,189,050			1,178			2,130,336			—			(1,497,300	)		—			634,214
Issuance of common stock under employee stock purchase plan		66,959			67			97,596			—			—			—			97,663
Reversal of deferred compensation amortization that did not vest		(15,000	)		(15	)		(31,305	)		—			31,320			—			—
Deferred compensation amortization		—			—			—			—			1,459,192			—			1,459,192
Purchase of treasury stock		—			—			—			(1,408,442	)		—			—			(1,408,442	)
Net income		—			—			—			—			—			3,305,497			3,305,497

Balance at December 31, 2024		29,902,415		$	198,317		$	99,676,457		$	(5,770,592	)	$	(6,914,563	)	$	(68,032,656	)	$	19,156,963

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

	Three Months Ended (unaudited)						Twelve Months Ended
	December 31, 2024			December 31, 2023			December 31, 2024			December 31, 2023

Reconciliation from Operating Income/(Loss) to Adjusted EBITDA:
Operating income (loss)	$	(602,797	)	$	(3,788	)	$	(1,470,345	)	$	(447,364	)
Depreciation and amortization		555,581			521,932			2,263,302			2,081,533
EBITDA		(47,216	)		518,144			792,957			1,634,169
Non-cash stock-based compensation expense, net		564,300			545,711			2,093,406			2,222,969
Adjusted EBITDA	$	517,084		$	1,063,855		$	2,886,363		$	3,857,138


Calculation of Adjusted EBITDA margins:
Revenues	$	20,560,088		$	20,130,642		$	82,931,840		$	84,066,245
Adjusted EBITDA		517,084			1,063,855			2,886,363			3,857,138
Adjusted EBITDA margins		2.5	%		5.3	%		3.5	%		4.6	%

The MIL Network –

March 27, 2025

MIL-OSI Video: Ahead of the Threat Podcast: Episode Eight – Scott Aaronson

Source: Federal Bureau of Investigation (FBI) (video statements)

Class is in session! Professor Scott Aaronson, a leading researcher in quantum computers, takes time away from his teaching at the University of Texas at Austin to give Ahead of the Threat a detailed overview of quantum theory and the applications of what a quantum computer could do—when one is invented. Though a real quantum computer remains unlikely for a few more years, its potential to unravel nearly all known encryption has led to the development of post-quantum encryption to protect sensitive data.

In the episode’s Top Three segment that highlights current cybersecurity news, hosts Bryan Vorndran, assistant director of the FBI’s Cyber Division, and Jamil Farshchi, FBI strategic engagement advisor, discuss Google’s acquisition of the cloud computing company Wiz for $32 billion; the European Union’s Artificial Intelligence Act, and a new ransomware attack at Jaguar Land Rover.

You can read an FBI Joint Cybersecurity Advisory on Medusa Ransomware at https://www.cisa.gov/news-events/cybersecurity-advisories/aa25-071a. You can also read NIST’s Post-Quantum Cryptography Standardization Overview at https://csrc.nist.gov/projects/post-quantum-cryptography.

Listen to Ahead of the Threat episodes, read the transcripts, and find related material at https://www.fbi.gov/aheadofthethreat.
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https://www.youtube.com/watch?v=WB9bvr_Nf4w

MIL OSI Video –

March 27, 2025
MIL-OSI Video: How the Coast Guard Seizes 45,000 lbs of Cocaine at Sea

Source: US Coast Guard (video statements)

INSIDE THE U.S. COAST GUARD’S COCAINE SEIZURE AT SEA

The U.S. Coast Guard Cutter Stone has offloaded over 45,600 pounds of cocaine worth $517.5 million at Port Everglades following 14 high-stakes drug interdictions in international waters. These operations, spanning from the Eastern Pacific Ocean to the waters off Mexico, Ecuador, Colombia, and Costa Rica, resulted in the apprehension of 35 suspected smugglers—a major blow to transnational drug cartels, including Sinaloa and Cartel Jalisco Nueva Generación.

Highlights from the CGC Stone’s Deployment
Interdicted four go-fast vessels in just 15 minutes—seizing 11,000 pounds of cocaine
HITRON aircrews deployed airborne use-of-force tactics to stop non-compliant drug runners
Unmanned aircraft systems (UAS drones) assisted in locating traffickers hundreds of miles offshore
Seizures took place hundreds of miles off Mexico, Ecuador, Colombia, and Costa Rica

“The fight against drug trafficking starts far from U.S. shores,” said Cmdr. David Ratner, underscoring the Coast Guard’s relentless mission to stop narco-terrorism before it reaches America.

Featured Coast Guard Assets & Teams
USCGC Stone (WMSL 758) & USCGC Mohawk (WMEC 913)
Helicopter Interdiction Tactical Squadron (HITRON)
Tactical Law Enforcement Team-Pacific (PAC-TACLET)
Joint Interagency Task Force-South (JIATFS)
Eleventh Coast Guard District

Subscribe for more real-life Coast Guard missions, maritime law enforcement, and drug interdiction operations! #CoastGuard #DrugBust #CocaineSeizure #USCG #MaritimeSecurity #HITRON #DrugInterdiction #NarcoTerrorism #BorderSecurity

https://www.youtube.com/watch?v=1Gbo_B2wHbs

MIL OSI Video –

March 27, 2025
MIL-OSI NGOs: Trump vs. Plastic Pollution

Source: Greenpeace Statement –

Underwater image of a turtle with plastic on his head. © Troy Mayne / Oceanic Imagery Publications

In his first month back in the Oval Office, Trump made moves that sent shockwaves in the world of plastic pollution. First, there was the announcement of a 25% tariff on imported steel and aluminum, to which top global plastic polluter The Coca-Cola Company responded by announcing that they would produce even more plastic bottles to counter the increased price of aluminum cans. Then, there was the executive order to “bring America back” to plastic straws by ending federal procurement of paper straws. But perhaps the biggest blow came as unelected billionaire Elon Musk began efforts to dismantle the National Oceanic and Atmospheric Administration (NOAA), the government agency in charge of managing coastal and marine ecosystems, which are heavily threatened by plastic pollution.

While the paper straws announcement may have received far more media attention than it deserves, we cannot let such ridiculous symbolic distractions take our collective focus away from the most important issue here: the larger systemic crisis of dismantling key government institutions, such as NOAA, the Environmental Protection Agency (EPA), and the National Park Service (NPS) among others, which protect the public good. Make no mistake, our efforts to end plastic pollution will continue no matter what obstacles lie ahead. In the absence of strong government leadership to enact effective policies that can address this crisis at the source, however, the battle to end plastic pollution has certainly gotten longer. But it doesn’t have to be this way.

US Senator Chris Van Hollen (MD) at press conference to defend NOAA

Take the Coca-Cola announcement. Instead of responding to the rising cost of aluminum by scaling up plastic bottles, Coke could seize this moment as an opportunity to shift a greater portion of its packaging away from single-use altogether and invest in expanding its existing refillable and returnable packaging portfolio. In 2023, the company reported selling 14% of its total beverage volume in reusable packaging already! Coca-Cola is uniquely positioned to scale up its existing reuse systems that already operate successfully around the world. Refillable Coke bottles are used widely in large country markets such as India, Brazil, Chile, the Philippines, and Mexico, among others.

Similarly, Trump’s executive order about straws (unsurprisingly) misses the point. The debate between paper or plastic – whether it be straws, cups, or takeout containers – bypasses a much more important opportunity to move away from single-use disposable packaging altogether and expand reuse systems. Particularly in the case of packaging that comes into direct contact with food and beverages, both disposable plastic and paper alike have been found to contain harmful chemicals such as PFAS, phthalates, and bisphenols which are linked to a wide range of health issues. Arguing between paper or plastic is wasting precious time while we could be building large scale reuse systems that are better for the environment, human health, and the economy.

Coca-Cola pioneered the reusable glass bottle system in the 1940s with great success. It knows full well how to operate large-scale reuse and refill systems using glass, which, unlike plastic, poses no health risks to consumers. PET plastic bottles shed microplastics and contain harmful chemicals linked to cancer, hormone disruption, obesity, early puberty in children, reproductive health problems, and declining fertility. Chemicals in plastics cost Americans over $250 billion in annual healthcare. Coca-Cola is contributing to this public health crisis through its use of unsafe levels of antimony – a known carcinogen – and other chemicals in its PET plastic bottles.

From household brand names like Coca-Cola to bulk packaging manufacturers, businesses are failing to seize the significant economic advantages that come with shifting to reusables (which has just been made easier than ever thanks to recent FDA changes to the federal food code). Unlike what the plastic industry would like us to believe, reuse systems can, in fact, be much better for business than single-use. Converting just 20% of global plastic packaging into reuse models could represent a $10 billion business opportunity, according to the Ellen MacArthur Foundation’s Reuse: Rethinking Packaging report. The cost savings can be tremendous for even small businesses, which can save an average of $3,000 to $22,000 annually by transitioning from disposables to reusables. Even after accounting for upfront capital and labor costs, data from hundreds of case studies show that businesses that switch from single-use to reuse save money 100% of the time.

The majority of American voters – Democrats and Republicans – want action to cut plastic pollution and protect our health. And literally zero Americans voted for Elon Musk’s takeover of the federal government. Musk’s DOGE agency has been wreaking havoc for weeks, slashing programs and firing workers who oversee essential services. NOAA, the National Oceanic and Atmospheric Administration, is the latest victim as hundreds of employees were fired late February. The consequences of this may be dire for plastic pollution as well as broader oceans issues alike.

Many Americans interact with NOAA every day, maybe without even realizing it. NOAA provides vital services including weather and tide forecasts, extreme weather alerts, as well as fisheries and water quality data that keep people safe and allow businesses to thrive. One of NOAA’s most essential services include weather forecasts, which keep Americans informed about increasingly frequent and severe extreme weather events. In 2024, the USA’s hottest year on record, the cost for the U.S. of these disasters was at least $182.7 billion. NOAA’s timely forecasting saves lives and livelihoods. Losing NOAA’s essential services could result in even greater costs and higher loss of life following the ever increasing extreme weather events. Tourism, transportation, food, retail, and other businesses depend on NOAA to keep their doors open.

NOAA Fisheries uses the best available science to ensure safe, healthy food and to protect endangered species. When US consumers go to the supermarket to buy seafood, at least 80% of which is imported, NOAA Fisheries’s Seafood Import Monitoring Program (SIMP) is the filter that aims to prevent seafood fraud or seafood tainted with forced labor from ending up in people’s shopping baskets. Americans want to know what they are buying and feeding their families, and they support more transparency and traceability in seafood. At this time, the US government should be expanding this program and strengthening the enforcement of import controls to prevent market access of goods produced by illegal, unreported and unregulated fishing or forced labor. This would also better protect American seafood producers from unfair competition that relies on labor abuses and environmental destruction to keep costs low.

Thankfully, people are rising up in defense of NOAA, and Greenpeace USA is too. At a recent press conference organized by US Senator Chris Van Hollen (MD), climate and environmental advocates, scientists, and members of Congress, Greenpeace USA was there in solidarity – along with our life-sized sea turtle sculpture! Here she is front and center, despite the plastic straw in her nose and oil spill covering her shell, with a few new friends a sign that says it all: “Trump is polluting our democracy.” To take a stand in support of sea turtles and other endangered marine animals, add your name here to contact your Member of Congress to save NOAA’s programs that are critical to our oceans, coastal communities, and economies. If you represent an organization, you can also consider signing onto this letter to protect NOAA, joining the close to 500 other organizations from around the country. Together, our voices are stronger.

MIL OSI NGO –

March 27, 2025
MIL-OSI Security: HIGH SPRINGS MAN SENTENCED TO FEDERAL PRISON FOR WIRE FRAUD

Source: Office of United States Attorneys

GAINESVILLE, FLORIDA – Sean Walker, 34, of High Springs, Florida, was sentenced to 42 months in federal prison for wire fraud in connection with COVID-19 relief fraud. The sentence was announced by Michelle Spaven, Acting United States Attorney for the Northern District of Florida.

“Our office will continue to eliminate waste, fraud, and abuse of taxpayer money, including holding those accountable who conspired to falsely obtain government funds during the COVID‑19 pandemic,” said Acting United States Attorney Spaven.

Court documents reflect that Walker obtained over $20,000 in unemployment insurance benefits from the State of California, which were funded in part by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. These funds were intended to provide emergency financial assistance to the millions of Americans who were suffering from the economic effects caused by the COVID-19 pandemic. Walker’s benefits application contained materially false and fraudulent statements. Walker knew that he had never lived or worked in that state and was not entitled to unemployment insurance benefits from California.

In addition to his prison sentence, Walker was also ordered to pay $21,690 in restitution to California’s Employment Development Department. Walker’s imprisonment will also be followed by three years of supervised release.

Walker is one of nine defendants who were convicted of similar COVID-19 relief fraud as a result of a joint investigation by the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation (IRS-CI). The case was prosecuted by Assistant United States Attorneys Adam Hapner and David P. Byron.

“While many were facing hardship and uncertainty, these defendants sought to exploit government programs intended to help those in need,” said Special Agent in Charge Ron Loecker, of the IRS-CI, Tampa Field Office. “Their actions were driven by greed and a blatant disregard for the law, undermining the purpose of critical relief efforts. We remain committed to holding accountable those who abuse these programs for personal gain and ensuring that justice is served.”

“The sentencing of Sean Walker conveys the important message that you cannot steal money from Americans without consequence,” said Kristin Rehler, Special Agent in Charge of the FBI Jacksonville Division. “The funds stolen by this defendant and other co-conspirators add to the massive amount of COVID-19 relief fraud that will ultimately be paid for by taxpayers. The FBI’s investigation into these schemes exemplifies our commitment to hold thieves accountable, and we will continue to work in coordination with our partners to protect the pocketbooks of hard-working Americans.”

The COVID-19 Fraud Enforcement Task Force marshals the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit Justice.gov/Coronavirus and Justice.gov/Coronavirus/CombatingFraud.

Anyone with information about allegations of attempted fraud involving COVID-19 relief funds can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline via the NCDF Web Complaint Form.

The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

MIL Security OSI –

March 27, 2025
MIL-OSI: AutoScheduler.AI Recognized as a Winner of the 2025 Artificial Intelligence Excellence Awards

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas, March 26, 2025 (GLOBE NEWSWIRE) — AutoScheduler.AI, an innovative Warehouse Orchestration Platform and WMS accelerator, announces being recognized as a winner of the 2025 Artificial Intelligence Excellence Awards in the Automated Planning and Scheduling category from the Business Intelligence Group. This prestigious recognition highlights the company’s commitment to innovation and its contributions to advancing artificial intelligence.

AutoScheduler.AI ushers in a new era as the brains of a warehousing operation and is the only solution on the market designed to optimize operational activity to decrease touches and increase capacity per headcount. AutoScheduler.AI helps businesses manage what they need today to succeed while predicting what they need in the future to meet the increased demand in labor, space, and time.

“We are incredibly honored to receive this recognition from the Business Intelligence Group,” says Keith Moore, CEO of AutoScheduler.AI. “This award is a testament to the dedication of our team and our mission to push the boundaries of AI to create meaningful solutions that improve lives and industries.”

“The AI industry is evolving rapidly, and it is through the efforts of companies like AutoScheduler.AI that we see real-world applications driving change,” said Russ Fordyce, CEO of the Business Intelligence Group. “Their work exemplifies the kind of innovation and leadership that is shaping the future of artificial intelligence.”

This year’s honorees represent the pinnacle of AI advancement, excelling in predictive analytics, generative AI, explainable AI, and beyond. Selected by a panel of industry experts, these winners exemplify the transformative power of artificial intelligence across diverse industries, from finance and healthcare to cybersecurity and autonomous systems.

The Artificial Intelligence Excellence Awards celebrate those at the forefront of AI’s evolution. From startups pioneering new applications to established enterprises leveraging AI to drive efficiency and innovation, these winners and finalists are setting new standards for the industry.

For more details on the 2025 Artificial Intelligence Excellence Awards and a complete list of winners and finalists, visit https://www.bintelligence.com/awards/artificial-intelligence-excellence-awards.

About AutoScheduler.AI

AutoScheduler.AI empowers you to take full control of your warehouse with a cloud-based solution that seamlessly integrates with your existing WMS/LMS/YMS or any other solution. We automate critical tasks like labor scheduling, dock management, and task sequencing, ensuring everything runs smoothly and efficiently. You’ve already invested in the software to run your warehouse—what we do is provide the orchestration layer that ties it all together to make real-time data driven decisions. With AutoScheduler.AI, you get smart orchestration for a smarter, more agile warehouse. For more information, visit: http://www.autoscheduler.ai.

About Business Intelligence Group www.bintelligence.com

The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, these programs are judged by business executives having experience and knowledge. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and rewards those companies whose achievements stand above those of their peers.

Contact:
Becky Boyd
MediaFirst PR
Becky@MediaFirst.Net
Cell: (404) 421-8497

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c292b523-c116-4e5b-898b-942f46926d2a

The MIL Network –

March 27, 2025
MIL-OSI Global: Global population data is in crisis – here’s why that matters

Source: The Conversation – UK – By Andrew J Tatem, WorldPop Director, Professor of Spatial Demography and Epidemiology, University of Southampton

Arthimedes/Shutterstock

Every day, decisions that affect our lives depend on knowing how many people live where. For example, how many vaccines are needed in a community, where polling stations should be placed for elections or who might be in danger as a hurricane approaches. The answers rely on population data.

But counting people is getting harder.

For centuries, census and household surveys have been the backbone of population knowledge. But we’ve just returned from the UN’s statistical commission meetings in New York, where experts reported that something alarming is happening to population data systems globally.

Census response rates are declining in many countries, resulting in large margins of error. The 2020 US census undercounted America’s Latino population by more than three times the rate of the 2010 census. In Paraguay, the latest census revealed a population one-fifth smaller than previously thought.

South Africa’s 2022 census post-enumeration survey revealed a likely undercount of more than 30%. According to the UN Economic Commission for Africa, undercounts and census delays due to COVID-19, conflict or financial limitations have resulted in an estimated one in three Africans not being counted in the 2020 census round.

When people vanish from data, they vanish from policy. When certain groups are systematically undercounted – often minorities, rural communities or poorer people – they become invisible to policymakers. This translates directly into political underrepresentation and inadequate resource allocation.

As the Brookings Institution, a US research organisation, has highlighted, undercounts have “cost communities of colour political representation over the next decade”.

This is happening because several factors have converged. Trust in government institutions is eroding worldwide, with the Organisation for Economic Co-operation and Development (OECD) reporting that by late 2023, 44% of people across member countries had low or no trust in their national governments. Research shows a clear trend of declining trust specifically in representative institutions like parliaments and governments. This makes people less likely to respond to government-issued census requests.

The COVID-19 pandemic created logistical nightmares for census takers. Many countries had to postpone their censuses. Budget cuts to statistical offices reduced capacity, while countries struggled with recruiting field staff.

International funding for population data is also disappearing. The US-funded Demographic and Health Surveys program, which provided vital survey data across 90 countries for four decades, was terminated in February 2025. Unicef’s Multi-Indicator Cluster program, which carries out household surveys, faces an uncertain future amid shrinking global aid budgets. US government cuts to support for UN agencies and development banks undertaking census support will likely have further impacts.

This is incredibly worrying to us as geography academics, because gathering accurate population data is fundamentally about making everyone visible. As population scientists Sabrina Juran and Arona Pistiner wrote, this information allows governments to plan for the future of a country and its people.

The US census directly impacts the allocation of more than US$1.5 trillion (£1.2 trillion) in public resources each year. How can governments distribute healthcare funding without knowing who lives where? How can disaster response be effective if vulnerable populations are invisible in official population counts?

Solutions that count

Countries are adapting. The COVID-19 pandemic accelerated the transition to alternative census methodologies. Many countries turned to online questionnaires, telephone interviews and administrative data sources to reduce face-to-face interactions.

The UN Economic Commission for Africa recommends that countries move from using paper forms for census data collection and embrace new digital technologies that can be cheaper and more reliable. Turkey’s switch in 2011 reduced census costs from US$48.3 million to US$13.9 million while improving data quality and timeliness, and nearly 80% of countries used tablets or smartphones for data collection in the 2020 round of censuses.

Collecting census data digitally in Pakistan in 2023.
Abdul Rauf Khan/Shutterstock

At WorldPop, our research group at the University of Southampton, we’re also helping governments to develop solutions using new technologies. Buildings mapped from satellite imagery using AI, together with counts of populations from small areas, can help create detailed population estimates to support census implementation or provide estimates for undersurveyed areas.

As we face growing challenges, from climate change to economic inequality, having accurate, reliable and robust population data isn’t a luxury. It’s essential for a functioning society. National statistical offices, UN agencies, academics, the private sector and donors must urgently focus on how to build cost-effective solutions to provide reliable and robust population data, especially in resource-poor settings where recent cuts will be felt hardest.

When people disappear from the data, they risk disappearing from public policy too. Making everyone count starts with counting everyone.

Don’t have time to read about climate change as much as you’d like?

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

Andrew J Tatem works for the University of Southampton, and is Director of WorldPop. His research on mapping populations has been funded by donors such as the Gates Foundation, Wellcome Trust, GAVI.

Jessica Espey works for the University of Southampton. Her research on data, statistics and evidence use has previously been funded by the William and Flora Hewlett Foundation, Gates Foundation and others.

– ref. Global population data is in crisis – here’s why that matters – https://theconversation.com/global-population-data-is-in-crisis-heres-why-that-matters-251751

MIL OSI – Global Reports –

March 27, 2025
MIL-OSI United Nations: Secretary-General Outlines Four Areas of Focus in Implementing Pact for Future

Source: United Nations General Assembly and Security Council

Following are UN Secretary-General António Guterres’ remarks to the informal interactive dialogue on the implementation of the Pact for the Future, in New York today:

I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months. From day one of the Pact for the Future’s adoption, the President has been its active champion. I deeply appreciate your efforts, Mr. President, and your leadership.

Adopting the Pact was the beginning of the process, not the end. Today, I want to focus on what we have done over the last six months — and what we need to do.

We face a long list of challenges. Conflicts and climate disasters are intensifying. The Sustainable Development Goals (SDGs) are far off-track — as is the funding required to achieve them. Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

But, let me be very clear. It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever. And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come. Resources are shrinking across the board — and they have been for a long time.

From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our Organization. Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment. All these will contribute for a more effective implementation of the Pact for the Future.

We’ve wasted no time moving into the implementation phase of the Pact. From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas: Sustainable Development Goals acceleration; peace and security; international financial architecture; digital technologies; UN governance; and youth.

We’ve created two task teams focusing on future generations and the need to look beyond GDP [gross domestic product] as a measure of progress and guide to policymaking.

And we’re establishing an internal tracking system to monitor our progress on Pact implementation. Today, I’d like to report on our efforts since the Pact was adopted and outline the work ahead in four areas.

First, peace and security. United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world. The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund. We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.

And we’re progressing on a review of all forms of peace operations, as requested in the Pact. Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

It will also recognize the limitations of our operations where there is little or no peace to keep. We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

Second, finance for development. Since the Pact’s adoption, we’ve taken action on several fronts. For example, our resident coordinators and country teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

We’ve begun analysing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September. The Expert Group called for in the Pact to develop measures of progress that go beyond gross domestic product will soon be announced and will work throughout the year before an intergovernmental process takes over in 2026.

And we’ve been working closely with the World Bank and the International Monetary Fund (IMF) to follow-up on the Pact’s action points addressing improvements to the international financial system.

Developing countries must be represented fairly in the governance of the very institutions they depend on. We know the environment is not favourable. But we must not give up.

Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt. In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

Debt relief is a central issue if we want the implementation and the Pact for the Future a reality. At the same time, we will continue advocating to increase the lending capacity of multilateral development banks, to make them bigger and bolder. This includes both stretching their balance sheets and recapitalization.

And we must ensure that concessional finance is deployed where it is most needed. Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

Three, youth and future generations. Our efforts must deliver for young people and the generations to come. The Pact’s central promise to young people is to listen to their concerns and ideas and including them at the decision-making table.

Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities. With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

Through the Declaration on Future Generations, we’re also looking to the generations yet to be born. We’ve established a Strategic Foresight Network and Community of Practice to ensure our policies, programmes and field operations are based on long-term thinking. And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

Fourth, technology. We’re implementing the Global Digital Compact’s calls to close all digital divides and ensure all people benefit from a safe and secure digital space. Artificial intelligence (AI) is a particular focus.

We’re developing a report on innovative voluntary financing options for AI capacity-building to help the global South harness AI for the greater good, taking into account the recommendations of my High-Level Advisory Body.

The zero-draft resolution to establish the International Independent Scientific Panel on AI and convene a Global Dialogue on AI Governance was also circulated last week — thanks to the work of the co-facilitators, Spain and Costa Rica.

I urge the General Assembly to act swiftly to establish this Panel and ensure that AI expertise and knowledge are available to all countries, while supporting the Global Dialogue. The UN system stands ready to support this work.

As we push for these priorities, we’re also improving the efficiency and effectiveness of our operations, as called for by the Pact.

Last fall, we undertook a comprehensive assessment across UN entities to harness the potential of innovation, data analytics, digital transformation and foresight across our work — as called for in the UN 2.0 initiative.

We’re already seeing results: from speeding up disaster assessments in the Asia-Pacific [region], to strengthening social security programmes in Malawi, to consolidating information technology functions across the UN system. This work must continue, especially in light of the funding challenges we face. We’re counting on your support as we move forward.

The Pact for the Future is an essential part of this process of constant renewal, as we reshape the multilateral system for the challenges of today’s world. We cannot dilute our efforts.

We need to sustain the same spirit and determination in which the Pact was forged and adopted. We count on you to inform, inspire and guide the implementation work ahead. Once again, thank you for your ideas and commitment.

MIL OSI United Nations News –

March 27, 2025
MIL-OSI Global: Spring statement: defence spending boosted as further disability benefit cuts announced – experts react

Source: The Conversation – UK – By Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array of unpalatable choices – notably cutting disability benefits – to enable her to increase defence spending and stabilise the public finances. Here’s what our panel of experts made of the statement:

Falling inflation wasn’t enough to prevent further disability cuts

Shampa Roy-Mukherjee, Vice Dean and Professor in Economics, University of East London

The independent Office for Budget Responsibility (OBR) has halved the UK’s 2025 growth forecast to 1%, down from the previously projected 2%. This sluggish growth, coupled with increased borrowing costs, has effectively eliminated the government’s £9.9 billion “fiscal headroom” – its financial buffer – resulting in a £4.1 billion shortfall by 2029-30.

There was some short-term relief in the latest inflation figures. These showed a slowdown in price rises in February (2.8% against 3% in January). The dip was caused by discounting of items like clothing. But given around half of businesses are considering price rises to combat tax hikes and the national living wage increase coming in April, this relief is likely to be short-lived. The OBR forecasts that inflation will climb back up to 3.2% this year.

The government had previously set out its controversial plans for £5 billion in welfare cuts. But the OBR rejected the claim that the reforms would save that much, estimating the savings at £3.4 billion, leaving Reeves with a £1.6 billion shortfall. As such, she has had to announce additional welfare reforms.

These include freezing the universal credit health element until 2030 and reducing it to £50 a week for new claimants. This is aimed at saving an additional £500 million by 2030 – and combined with other planned welfare reforms could affect more than 3 million people. But the standard allowance for universal credit will see an above-inflation increase from 2026-27 and the incomes of those with the most severe lifelong conditions will be protected.

Civil service administrative budgets are also to be reduced – by 15% by 2029-30. This, along with other efficiency and productivity improvements, will lead to annual savings of £3.5 billion. These cuts will focus on areas like human resources, policy advice, and office management, rather than frontline services.

Reeves resorted to tricks and ‘efficiency savings’

Steve Schifferes, Honorary Research Fellow, City St George’s, University of London

Reeves has announced a series of tweaks to her spending plans to address the economic situation which has meant that she is in danger of breaking her self-imposed fiscal rules. The chancellor was at pains to say that these rules are “non-negotiable”.

But these are unlikely to tackle the deeper problem – that in the short term she cannot rely on economic growth to square the circle of Labour’s three contradictory election pledges. These were more spending on public services, lower taxes and strict fiscal rules.

The UK, in fact, is particularly vulnerable to the disruption of global trade that is likely to result from US president Donald Trump’s tariff wars. And the productivity gains from her long-term infrastructure plans will take years – if not a decade – to translate into higher growth.

Like many chancellors, Reeves has resorted to various tricks – such as counting money moved to the defence budget to build tanks and aircraft as capital spending (and therefore exempt from the borrowing rules). And she has called for “efficiency savings” in the civil service and government departments that are unlikely to be realised.

But the biggest savings are coming from deeper than expected cuts in disability payments and other welfare payments, reducing the income of more than 3 million people. This is upsetting many Labour MPs. Her big sweetener – £2 billion for social housing next year – is actually less than that already allocated by the previous Conservative government.

Crucially, the further savings likely to be demanded in the spending review (announced on June 11) from unprotected departments including local government, justice and environment, will certainly look a lot like a return to austerity.

In the end – and possibly as soon as the autumn budget – the chancellor will have to accept that as well as spending cuts, she will have to consider tax increases and possibly even a revision of the fiscal rules.

Otherwise, she will remain at the mercy of the markets and the forecasters. Any long-term strategy will be strangled by the need to continually adjust policy to meet the fiscal “headroom” target she has set which leaves little room for manoeuvre. This requires an implausibly accurate prediction of the state of the economy in five years’ time by the OBR.

The Civil Service could see 10,000 jobs axed.
pxl.store/Shutterstock

Commitment to financial stability is actually increasing uncertainty

Linda Yueh, Fellow and Adjunct Professor of Economics, University of Oxford

The chancellor’s self-imposed fiscal rules are intended to provide stability – one of the foundations of economic growth. One of those rules, which Rachel Reeves has said she will not bend, is that government day-to-day spending must be balanced by tax receipts by the end of this parliament.

This is intended to provide transparency on fiscal policy. And Reeves clearly understands the importance of how international financial markets react to the UK’s level of spending – and its public debt (currently about 100% of GDP).

But the world is not a stable place. And with the OBR halving its 2025 GDP growth forecast from 2% to 1%, unplanned cuts to public spending followed.

Consistency in fiscal policy helps households and business to plan for the future. But during times of heightened uncertainty with global tariffs looming, GDP is likely to remain volatile. This makes not changing the government’s fiscal stance particularly challenging.

It is also challenging for chancellor personally, as she would prefer to have one “fiscal event” a year, rather than two. But the OBR is obliged to provide economic forecasts twice a year, and when it slashes expected growth, she is duty bound to respond.

Somewhat ironically then, the government’s stability rule is having the unintended consequence of adding policy uncertainty to an already uncertain overall economic environment – and more frequent changes to fiscal policy.

‘Let’s shake on increasing defence spending, bigly.’
Joshua Sukoff/Shutterstock

Modest defence spending boost will struggle to reverse years of decline

Jamie Gaskarth, Professor of Foreign Policy and International Relations, the Open University

In two months, the UK defence sector has been turned upside down – primarily by Donald Trump. His administration has made implied threats to invade a NATO ally (Denmark), challenged the sovereignty of another (Canada) and pulled support for Ukraine, openly siding with Russia in ceasefire negotiations. There is a real chance the US will draw down its security presence in Europe.

If European countries are to meet the full cost of their own security, this will have to mean a dramatic increase in defence budgets. So far, the UK has redistributed aid money to help fund an increase in defence spending to 2.5% of GDP (from 2.3%) by 2027, with the ambition to raise it to 3% in the next parliament.

It has also offered an extra £2 billion to underwrite defence exports. But this is small beer.

As with many areas of public spending, dramatic cuts to the defence budget during the years of austerity (22% in real terms) have meant delays to procurement, crumbling estates and a chronic lack of investment.

This will take a substantial uplift to redress. Recent increases under the Conservatives were eaten up by capital costs and inflation.

And while ideas such as the £400 million ringfenced to support innovation in AI and new technology are welcome, these are tiny amounts in the grand scheme of things. The UK is not going to be a “defence industrial superpower” any time soon if budget announcements are this small, and increases so modest.

Promise to disabled people in tatters

William E. Donald, Associate Professor of Sustainable Careers and Human Resource Management, University of Southampton

In November, social security and disability minister Sir Stephen Timms spoke passionately at the Shaw Trust Disability Power 100 awards, vowing to undo past injustices and declaring: “We now want to put that right.” As a disabled person, I cheered. That promise now lies in ruins.

Despite government claims there will be no return to austerity, sick and disabled people face a real-terms cut to their incomes and the criteria for claiming personal independence payment (Pip) will become stricter than ever. This isn’t just a policy to save £5 billion, it’s cruelty and a devastating attack on disabled people.

Pip isn’t means-tested and is paid regardless of whether you work. It exists because, according to disability charity Scope, disabled households need an additional £1,010 a month to achieve the same standard of living as others. Stripping this support away while NHS mental health waiting lists grow, energy and food prices rise, and the disability pay gap sits at 12.7% won’t push people into work. It will push them into crisis.

Last year, Labour promised to break barriers for disabled people. Instead, they are building new ones. These cuts come at the expense of society’s most vulnerable. The consequences will be catastrophic.

Building a future?
Ian Dyball/Shutterstock

Social housing boost – but homes could be improved now

Nicky Shaw, Senior Lecturer in Operations Management, Leeds University Business School, and Simon Williams, Associate Faculty, Leeds University Business School

The chancellor’s £2 billion investment in new homes will certainly help to increase the availability of affordable social housing. Everyone agrees that access to decent, affordable homes is important, but the quality and maintenance of existing social houses remains critical. Replacing cladding, for example, is stubbornly challenging.

But beyond just building more social housing, our research has explored key measures of tenant satisfaction. The potential ways for digital tools such as AI to improve the efficiency of tasks like repairs and maintenance in future are numerous.

But social housing’s tenant demographic includes many people who are more vulnerable, some of whom prefer not to – or simply cannot – engage with digital services. This means that sustaining face-to-face contact with tenants is critical. Investing in tenants’ experience now could really deliver tangible benefits for some of Britain’s most vulnerable people.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Spring statement: defence spending boosted as further disability benefit cuts announced – experts react – https://theconversation.com/spring-statement-defence-spending-boosted-as-further-disability-benefit-cuts-announced-experts-react-253149

MIL OSI – Global Reports –

March 27, 2025
MIL-OSI United Kingdom: Chancellor delivers security and national renewal for Northern Ireland in new era of global change
Source: United Kingdom – Executive Government & Departments

Press release

Chancellor delivers security and national renewal for Northern Ireland in new era of global change

The UK Chancellor delivered the Spring Statement today (Wednesday 26 March 2025)
Chancellor vows to bring about “new era of security and national renewal” as she delivered a Spring Statement to kickstart economic growth, protect working people and keep Britain safe.

People across the UK to be on average £500 a year better off by the end of this parliament compared to under the previous government, putting more money in people’s pockets.

Growth at the heart of Plan for Change as £13 billion of additional capital spend allocated alongside £2.2 billion defence funding boost next year will get Britain building.

People across the UK will be on average £500 better off from 2029, relative to OBR’s autumn forecast, helping to deliver the Plan for Change as the Chancellor today (Wednesday 26 March) announced a Spring Statement to grasp the opportunities in a changing world.

The OBR also confirmed that the UK economy is expected to grow faster than expected from 2026 and will be larger by 2029 compared to its autumn forecast – up to 9.5% compared to 9.2%.

The Chancellor also set out how the government is protecting national security and maximising the growth potential of the UK defence sector by confirming a £2.2 billion increase in the UK-wide defence budget in 2025-26.

The Spring Statement delivers UK Government spending plans focused on its core objectives, bringing security and stability for working people across the UK.

It follows the Budget in the autumn where the Chancellor announced that the Northern Ireland Executive will be provided with an £18.2 billion settlement in 2025/26 – the largest in real terms in the history of devolution. This includes an additional £1.5 billion through the Barnett formula, with £1.2 billion for day-to-day spending and £270 million for capital investment.

The measures taken today top these Barnett consequentials up by a further £14 million in 2025/26. The Northern Ireland Executive are receiving over 24% more per person than equivalent UK Government spending in the rest of the UK, including the 2024 restoration financial package.

The Northern Ireland Executive’s block grant funding from 2026-27 onwards will be confirmed at Phase 2 of the Spending Review, which concludes on 11 June 2025. The Chief Secretary to the Treasury will meet with his counterparts from the devolved governments to discuss their priorities ahead of its conclusion.

Secretary of State for Northern Ireland Hilary Benn said:

I welcome the fact that Northern Ireland will receive a £14 million boost in Barnett consequentials as a result of today’s announcements, building on the record £18.2 billion settlement which was confirmed by the UK Government last Autumn.

This also follows a  £235 million package to transform public services in Northern Ireland, which will support the transformation of key public services which make a real impact on people’s lives, including health, education, planning and justice.

Importantly, today’s announcement reinforces the economic growth potential of the UK defence sector, and follows  the Prime Minister’s announcement of a £1.6bn deal to provide air defence missiles for Ukraine, which will create 200 jobs in Northern Ireland and demonstrates the strength of the local defence industry.

From next week, working people across Northern Ireland and the UK will also benefit from an increase to the National Living Wage, putting more money into the pockets of hard-working people.

And the UK Government continues to provide support  across Northern Ireland through City and Growth deal packages, having confirmed the Mid-South West and Causeway Coast and Glens City deal last year.

Taken together, these measures will foster growth in Northern Ireland, creating jobs, supporting public services, and boosting the quality of life for local people.”

Growth

Kickstarting economic growth is the number one mission of this government, putting more money in people’s pockets.

The UK Government has already made considerable progress on growth in Northern Ireland, including confirming the Mid-South West and Causeway Coast and Glens City deal. Earlier this month, the Prime Minister also announced a £1.6bn deal to provide air defence missiles for Ukraine, which will create 200 jobs in Northern Ireland. In February we launched Intertrade UK which will advise on how businesses can take advantage of the full opportunities of the UK internal market.

The actions of this government across the Autumn Budget and Spring Statement, if sustained, lead to a 0.6% rise in the level of real GDP by 2034-25.

The OBR concluded that the stability rule is met by £9.9 billion and the investment rule is met by £15.1 billion. Both rules are met two years early, meaning from 2027-28 the government is only borrowing for investment and net financial debt is falling.

The government is not satisfied with short-term growth figures, and is going further and faster today to improve this.

The Chancellor has announced a further £13 billion of capital investment over the Parliament to go further on growth, on top of the £100 billion uplift announced at Autumn Budget. This will deliver the projects needed to catalyse private investment, boost growth and drive forward the UK’s modern industrial strategy.

Taken together, this greater capital investment more than offsets the modest savings on day-to-day spending and means the total departmental spending will increase over the next five years, when compared with plans in the Autumn.

Defence

The world is changing before our eyes, reshaped by global instability, including Russian aggression in Ukraine. Europe is facing a once-in-a-generation moment for its collective security, with conflicts overseas undermining security and prosperity at home.

A month ago, the Prime Minister announced the biggest sustained increase in defence spending since the Cold War as a result of the changing global picture, now reaching 2.5% of GDP by April 2027, and with an ambition to reach 3% in the next Parliament subject to economic and fiscal conditions.

We are going further and faster to protect our national security and maximise the economic growth potential of the UK defence sector.

Increasing the defence budget by £2.2 billion in 2025-26, taking additional spending on defence to over £5 billion since the Autumn Budget.

This raises spending on defence to 2.36% next year and will be invested in fitting Royal Navy ships with Directed Energy Weapons five years earlier than planned, providing better homes for military families and modernising His Majesty’s Naval Base Portsmouth.

Setting a minimum 10 percent ringfence for equipment spending on emerging technologies like drones and autonomous systems, dual-use technology, and AI-powered capabilities, so that British troops have the tools they need to fight and win in modern warfare.

Getting this new tech into the hands of our armed forces quicker by cutting away bureaucracy, with a new UK Defence Innovation unit within the Ministry of Defence spearheading efforts to identify promising technology and ensure these get to the frontline at speed, while also bolstering the UK tech sector and crowding in private investment.

Creating bespoke procurement processes for different types of military equipment, learning lessons from our rapid support for Ukraine to drive faster timescale targets for operationalising new tanks, aircraft and other essential tools for modern warfare.

This government is determined to transform the defence sector into an engine for growth by focusing this investment on where it boosts the productive capacity of the economy such as investment in innovation and novel technologies. As a result of the increase in defence spending to 2.5%, the government estimates this could lead to around 0.3% higher GDP in the long run, equivalent to around £11 billion of GDP in today’s money.

The government’s investment in defence will also support its number one mission to deliver economic growth. UK citizens will be protected from threats at home whilst creating a stable environment in which businesses can thrive, and supporting highly skilled jobs and apprenticeships across the whole of the UK.

Reform

The UK Government is determined to make the public sector more productive and to improve services for working people. But the changing world means we need to go further and faster to ensure we can deliver the public services that working people care most about.

The government has shown its commitment to taking the difficult decisions required to drive efficiencies and reform the state – reducing bureaucratic inefficiencies and duplication; and driving out wasteful government spend through cancelling thousands of government credit cards.

Getting more people into jobs is also central to the government’s growth mission. The broken welfare system is letting people down by asking them to prove what they can’t do, rather than focusing on what they could do with the right support – trapping people due to fear of trying work, lack of support and poor financial incentives.

The Chancellor has confirmed the creation of a £3.25 billion Transformation Fund to support the fundamental reform of public services, seize the opportunities of digital technology and Artificial Intelligence (AI), and transform frontline delivery to release savings for taxpayers over the long-term.

The UK Government provided £235 million to transform public services in Northern Ireland as part of the £3.3 billion restoration package for the Executive. This month we agreed to allocate £129 million of that funding to projects across several priority public services including health, education, planning and justice. The funding will see £61 million go towards expanding the multi-disciplinary teams in GP clinics across Northern Ireland, and support five other projects across justice, special education and infrastructure which represent key priorities in the Executive’s Programme for Government.

Looking Forward

This Spring Statement builds on the Autumn Budget and the decisions taken since required to deliver stability to the British economy and kickstart economic growth.

The government will set out its plans for spending and key public sector reforms at the Spending Review which will conclude on 11 June 2025.

Notes to editors

Government calculations for the long-run impacts of higher defence spending are based on estimates from Antolin-Diaz and Surico (2025), forthcoming in the American Economic Review (AER), of the GDP impact of higher defence spending on GDP. Their estimates of the GDP multiplier stabilise after ten years at around 1.6, which is assumed to reflect an appropriate long-run multiplier for potential output, as any demand-side effects are likely to have dissipated at the ten-year horizon.

Defence spending as a share of GDP is set to rise from 2.3% to 2.5%, an increase of 0.2 percentage points. Applying an elasticity of 1.6 to this change implies a long-run increase in the level of potential output of approximately 0.3%. A long-run increase to the level of potential output of 0.3% is equivalent to around £11 billion of GDP in the long run, in today’s prices.

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Published 26 March 2025
MIL OSI United Kingdom –
March 27, 2025

MIL-OSI: Sidetrade Annual Results for 2024: Operating Margin exceeds 15% of Revenue and Net Profit up 40%

Source: GlobeNewswire (MIL-OSI)

New record in year-over-year bookings (+13% in ACV)

Strong revenue growth: up 26% with SaaS subscriptions up 22%

Operating margin ⁽³⁾exceeds 15% of revenue (+45%)

Surge in net profit to €7.9 million, up 40%

Operating cash flow strongly supporting the acquisition of SHS Viveon

Recognized ESG commitment: Platinum by EthiFinance and Silver by EcoVadis

Sidetrade, the global leader in AI-powered Order-to-Cash applications, today announces a 26% increase in revenue for 2024, with a surge in operating margin ⁽³⁾of €8.4 million (+45%) and in net profit of €7.9 million (+40%).

Sidetrade (€m)	2024	2023	Change

Revenue	55.0 ⁽¹⁾	43.7	+26%
SaaS subscriptions	45.5 ⁽²⁾	36.6	+22%

Gross margin	43.1	35.3	+22%

Operating expenses (OPEX)	(34.6)	(29.4)	+18%

Operating margin ⁽³⁾	8.4	5.8	+45%
as a % of revenue	15%	13%
Net profit	7.9	5.6	+40%

2024 information is from consolidated, unaudited data.
(1) includes €4.4m in SHS Viveon revenue
(2) includes €3.0m in SHS Viveon recurring revenue
(3) Operating margin corresponds to operating profit based on 2024 accounting standards in France, including the French Research Tax Credit.

Olivier Novasque, CEO of Sidetrade commented:

“2024 once again illustrates the strength of Sidetrade’s business model, combining growth with profitability. Our 26% revenue increase was driven by a major breakthrough in the North American market, a leading-edge AI offering embraced by large enterprises, and the acquisition of SHS Viveon in Germany, which has further solidified our leadership in Order-to-Cash solutions across Europe. For the first time in our history, we have surpassed €8 million in operating profit, a significant 45% increase, highlighting the effectiveness and balance of our expansion strategy. But the real story goes beyond this impressive performance. We are witnessing an accelerated revolution in how businesses leverage artificial intelligence, marked by the emergence of specialized AI agents. Unlike traditional automation models that rely on rigid rule-based programming and constant human oversight, AI agents bring a new level of autonomous decision-making and real time operational optimization. These are no longer mere automation tools; they are intelligent entities capable of anticipating needs and acting independently within a company’s IT infrastructure, with minimal human intervention. Where traditional software simply organizes workflows using pre-defined rules, an AI agent trains, learns, adapts, and executes complex processes on its own. And this agentic revolution is only just beginning! At Sidetrade, Aimie represents the next generation of AI, evolving into an agentic AI that will orchestrate a network of AI agents, each managing a specific link in the Order-to-Cash cycle: risk, disputes, collections, cash application, and more. Aimie will direct, coordinate, and interconnect these high-specialized agents. Backed by the Sidetrade Data Lake, the most unique in the Order-to-Cash market and built on $7.2 trillion in B2B transactions spanning over 39.9 million businesses, Aimie is already powered by a one-of-a-kind training dataset in our field that will give its AI agents unmatched intelligence. Thanks to intensified R&D investments in 2024, we are set to launch our first next-gen AI agent in 2025, one that will redefine the boundaries of autonomy and capability. Companies that fail to embrace this paradigm shift will be rapidly outpaced by those that embed AI agents at the core of their operational excellence. With Aimie, Sidetrade is fully aligned with this AI agent revolution and is uniquely positioned to lead the race in its field.”

New record in year-over-year bookings (+13% in ACV)
Sidetrade maintained its growth trajectory in 2024 and set a new record with Annual Contract Value (ACV) reaching €12.73 million, up 13% compared to 2023. Annual Recurring Revenue (New ARR), increased by 6%, amounting to €6.53 million while Services bookings grew by 21%, totaling €6.2 million.

Bookings by new customers (“New Business”) accounted for 63% of total new bookings in 2024, while contract extensions (“Cross-sell”) and additional modules to existing customers (“Upsell”) contributed 18% and 19% of bookings, respectively.

Strong revenue growth in 2024: up 26% with SaaS subscriptions up 22%

In 2024, Sidetrade reported annual revenue of €55.0 million, marking a 26% increase compared to the previous year, and a 16% increase on a reported basis (excluding the acquisition of SHS Viveon finalized in June 2024). Several factors contributed to this strong performance:

Sustained organic growth: Overall revenue (excluding the acquisition of SHS Viveon) grew by 16%, while SaaS subscriptions increased by 15%. Meanwhile, Services showed impressive growth of 24%, driven by global implementation projects.
Strategic acquisition of SHS Viveon opening the DACH region: Since July 1, 2024, SHS Viveon has contributed €4.4 million to Sidetrade’s revenue, now accounting for 15% of total revenue in the second half of 2024.
Expanding international reach: The integration of SHS Viveon has increased the share of revenue generated outside of France to 65%. With 70% of its workforce now based internationally, Sidetrade demonstrates its ability to scale globally while maintaining strong local client relationships, key to building trust and driving operational efficiency.
Outstanding performance in North America: North America recorded the highest growth in 2024, with a 36% increase, bringing annual revenue to €16.6 million. This strategic market is central to Sidetrade’s ambitions.

Sidetrade continues to strengthen its position among multinationals, with a 44% increase in subscriptions from companies generating over €2.5 billion in revenue. These contracts now represent 50% of total subscriptions. More broadly, companies generating over €1 billion in revenue account for 79% of the portfolio, cementing Sidetrade’s status as a preferred partner for large enterprises.

Gross margin and operating margin: strongly accelerating performance

Strong growth in gross margin: +22% with an increase of €7.8 million

The sustained momentum in subscription growth continued to drive the expansion of the gross margin in 2024. On a like-for-like basis (excluding SHS Viveon), the gross margin rate for subscriptions remained particularly high at 92%, compared to 93% in 2023. SaaS subscriptions now represent 97% of the total gross margin.

Sidetrade’s overall gross margin rate on a like-for-like basis stood at 80%, versus 81% the previous year. Including the impact of SHS Viveon acquisition, the consolidated gross margin rate reached 78% of total revenue for the 2024 fiscal year.

In total, in 2024, Sidetrade delivered an incremental gross margin increase of €7.8 million compared to 2023, representing a +22% year-over-year growth.

Operating margin exceeding 15% of revenue (vs 13% in 2023)

Sidetrade’s operating margin showed a remarkable increase, reaching €8.4 million in 2024, up 45% from €5.8 million in 2023. This profitability is driven by sustained business growth, an excellent gross margin and disciplined cost management.

Thanks to this momentum, Sidetrade has continued its investment strategy, with an increase in expenditure of €5.2 million over 2023, and a particular focus on R&D (+€2.4 million), notably to accelerate the integration of generative AI into its core product offering.

The 2024 operating margin includes a French Research Tax Credit of €2.6 million (versus €2.4 million in 2023) as well as activation of €0.16 million in marginal R&D costs, i.e., 2% of R&D costs for the full year.

As a result, Sidetrade’s operating margin stands at 15% of revenue versus 13% in 2023, representing a 2-point gain year-over-year.

Surge in net profit to €7.9 million: up 40%

Sidetrade’s financial income, recorded as of December 31, 2024, stands at €0.7 million, up significantly from 2023 (€0.4 million). This performance is mostly due to interest earned on short-term investments during the year and the foreign exchange gains realized over the period.

Corporate income tax for 2024 is estimated at €1.1 million, versus €0.6 million in 2023.

All told, Sidetrade’s net profit for 2024 was €7.9 million, an increase of 40%, confirming the solid balance between growth and profitability.

Operating cash flow strongly supporting the acquisition of SHS Viveon

In 2024, Sidetrade generated a solid operating cash flow of €9.6 million, up €3.3 million (excluding the timing impact of the French Research Tax Credit refund). This level of cash generation enabled the Company to fully self-finance the acquisition of SHS Viveon, with a net cash outlay of €5.2 million (€6.6 million for the purchase of shares, offset by €1.4 million in available cash held by SHS Viveon).

As of December 31, 2024, Sidetrade reported €25.2 million in gross cash, up €1.3 million compared to year-end 2023.

In addition, Sidetrade held 85,437 of its own shares, valued at €19.1 million as of December 31, 2024.

Financial debt stood at €7.9 million, down €2.3 million year-over-year. Even after the SHS Viveon acquisition, Sidetrade retains substantial investment capacity, well-positioned to support its continued expansion strategy.

Recognized ESG commitment: Platinum by EthiFinance and Silver by EcoVadis

In 2024, Sidetrade accelerated its transition toward becoming a more responsible company and was awarded a Platinum medal from EthiFinance and a Silver medal from EcoVadis, with respective scores of 84/100 and 70/100. Now ranked among the top 15% of the most highly rated companies audited by EcoVadis, demonstrating its leadership in social responsibility.

These accolades confirm the relevance of Sidetrade’s strategy and its ability to anticipate the environmental and social challenges of tomorrow.

Sidetrade looks ahead to the fiscal year 2025 with confidence and a clear vision, and has the resources to fulfill its ambitions.

Next financial announcement
First Quarter Revenue for 2025: April 15, 2025, after the stock market closes.
Investor relations
Christelle Dhrif 00 33 6 10 46 72 00 cdhrif@sidetrade.com
Media relations @Sidetrade
Becca Parlby 00 44 7824 5055 84 bparlby@sidetrade.com

About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform designed to revolutionize how cash flow is secured and accelerated. Leveraging its next-generation AI, nicknamed Aimie, Sidetrade analyzes $7.2 trillion worth of B2B payment transactions daily in its Cloud, thereby anticipating customer payment behavior and the attrition risk of 39.9 million buyers worldwide. Aimie recommends the best operational strategies, dematerializes and intelligently automates Order-to-Cash processes to enhance productivity, results and working capital across organizations.
Sidetrade has a global reach, with 400+ talented employees based in Europe, the United States and Canada, serving global businesses in more than 85 countries. Amongst them: Bidcorp, Biffa, Bunzl, Engie, Inmarsat, KPMG, Lafarge, Manpower, Page, Randstad, Saint-Gobain, Securitas, Tech Data, UGI, and Veolia.
Sidetrade is a participant of the United Nations Global Compact, adhering to its principles-based approach to responsible business.

For further information, visit us at www.sidetrade.com and follow @Sidetrade on LinkedIn.
In the event of any discrepancy between the French and English versions of this press release, only the French version is to be taken into account.

Attachment

Sidetrade Annual Results for 2024: Operating Margin exceeds 15% of Revenue and Net Profit up 40%

The MIL Network –

March 27, 2025

MIL-OSI: Quadient SA: FY 2024 results: Solid 1st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

Source: GlobeNewswire (MIL-OSI)

Quadient FY 2024 results:
Solid 1^st year delivery of “Elevate to 2030” strategic plan, with Digital Solution achieving €267m in revenue and 61% EBITDA growth to €47m

Key highlights

FY 2024 financial targets achieved
Two operating profitability milestones reached:
Digital EBITDA margin at 17.5%, up 5.7pts yoy, reflecting strong profitability improvement
All three solutions are EBITDA positive
Consolidated sales of €1,093 million, up +2.8% on a reported basis, including the contribution of the latest acquisitions
FY 2024 subscription-related revenue up +10.2% in Digital and up +11.5% in Lockers
FY 2024 subscription-related revenue of €777m, representing 71% of total revenue, up +€30m yoy,
vs. +€90m 2026 target
FY 2024 Group current EBIT of €146 million, up +2.2% organically
Proposed dividend of €0.70 per share, up by €0.05 for the fourth consecutive year
FY 2025 outlook: acceleration both in organic revenue growth and in current EBIT organic growth vs. 2024

Paris, 26 March 2025

Quadient S.A. (Euronext Paris: QDT), an Intelligent automation platform powering secure and sustainable business connections, today announces its 2024 fourth-quarter consolidated sales and full-year results (period ended on 31 January 2025). The full year 2024 results were approved by the Board of Directors during a meeting held on 25 March 2025.

Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated: “We have delivered a solid first year of our Elevate to 2030 strategic plan.

Our Digital Automation platform has reached the record level of c.€270 million in revenue thanks to both the addition of 2,600+ new customers and the contribution from the increased usage and upsell from our existing 16,500 customer base. This strong revenue increase has been delivered together with a significant improvement in profitability with EBITDA rising by 61% to reach €47 million. We are now in a good position to exceed the 20% EBITDA margin ambition set for 2026.

2024 also saw the highest level of Digital cross-sold deals into our Mail customer base while at the same time our Mail business continues to outpace competition. In Lockers, investments made over the past couple of years are paying off, contributing to a strong performance in H2 with double digit growth in revenue thanks to increased usage of the locker base across all regions. In addition, Lockers have reached EBITDA breakeven over the full year and profitability will further improve as we continue to increase the size of our network, grow its usage and take advantage of the recent addition of Package Concierge in the US residential sector.

At Company level, this solid performance translates into a €30 million increase in annual recurring revenue, well on track to deliver the €90 million increase targeted by 2026. Based on this solid start to the strategic plan, we are confident in our ability to continue building a €1bn recurring revenue platform by 2030, generating €250 million current EBIT. Therefore, we are proposing to increase our dividend for the fourth consecutive year in a row, to €0.70.

While macro uncertainties have recently been growing, we are expecting an acceleration of organic growth in revenue and current EBIT in 2025 against 2024 levels.”

Comments on FY 2024 performance

Group sales came in at €1,093 million in FY 2024, a +2.8% increase on a reported basis, and +0.4% organic growth compared to FY 2023, in line with Quadient’s expectations. The reported growth includes a positive currency impact of €2 million and a positive scope effect of €24 million, which is related to the acquisitions of Daylight (September 2023), Frama (February 2024) and Package Concierge (December 2024).

In the fourth quarter of 2024, reported revenue growth stood at +4.1% and organic revenue growth was broadly flat, at -0.2%, compared to Q4 2023.

Subscription-related revenue reached €777 million in FY 2024, growing +1.6% organically, and representing 71% of total sales. This represents a €30 million increase year-on-year (compared to the +€90 million target by 2026), progressing toward the €1 billion subscription-related revenue target by 2030. Performance in the fourth quarter of 2024 was steady, up 2.1% organically against Q4 2023, driven by a double-digit organic increase in Digital and in Lockers. Non-recurring revenue declined by 2.4% organically in FY 2024, including a 5.1% decline in Q4 2024, essentially due to a high comparison basis in Mail hardware sales.

By geography, North America (58% of revenue) continued to outperform other regions with a +2.8% organic growth achieved in FY 2024.

Consolidated sales and EBITDA by Solution

FY 2024 consolidated sales

In € million	FY 2024	FY 2023	Change	Organic change
Digital	267	245	+9.1%	+7.7%
Mail	732	729	+0.4%	(2.5)%
Lockers	94	88	+5.7%	+4.3%
Group total	1,093	1,062	+2.8%	+0.4%

EBITDA and EBITDA margin

	FY 2024		FY 2023
In € million	EBITDA	EBITDA margin	EBITDA	EBITDA margin
Digital	47	17.5%	29	11.8%
Mail	200	27.4%	218	29.9%
Lockers	1	0.6%	(3)	(3.0)%
Group total	247	22.6%	244	23.0%

Digital

In FY 2024, revenue from Digital reached €267 million, up 7.7% organically (+10.1% in Q4 2024 vs. Q4 2023) and up 9.1% on a reported basis (including the contribution from Daylight) compared to FY 2023.

This solid performance was driven by a strong 10.2% organic growth in subscription-related revenue in FY 2024 (+10.5% in Q4 2024 vs. Q4 2023), including a good contribution from North America and continued positive commercial trends across the platform with further solid cross-selling and up-selling. In FY 2024, subscription-related revenue was representing 82% of Digital total sales, a further increase compared to 80% in FY 2023.

At the end of FY 2024, annual recurring revenue (ARR), which is a forward-looking indicator of future subscription-related revenue, reached €232 million, up from €206 million at the end of FY 2023, representing a 12.7% organic growth.

EBITDA for Digital was €47 million in FY 2024, up +61% year-on-year. EBITDA margin was at 17.5%, a strong improvement of 5.7 points compared to FY 2023. In H2 2024, EBITDA margin further improved, reaching 19.1%, after 15.7% in H1 2024. This positive evolution in profitability reflects the combination of subscription-related revenue growth and platform maturity. The Digital solution is well on track to reach its target of EBITDA margin greater than 20% in 2026.

As part of its customer acquisition strategy, Digital continues to demonstrate strong commercial momentum. Over
2,600 new customers were added in FY 2024 thanks in particular to robust cross-selling with Mail, especially in North America. Digital experienced a dynamic fourth quarter, with several key deals secured in the US. Additionally, a new partnership was established with Avaloq to deliver Customer Communications Management capabilities to the financial services industry.

As part of the customer expansion process, the focus continues to be on further increasing up-selling, notably in financial automation process. Several platform innovations have been made, to bring added value to customers, including the ramp-up and extension of Repay for direct supplier invoice payments in the US and Canada, and new electronic invoice formats (UBL, CII, Factur-X) to align with upcoming European e-invoicing regulation.

In Quadient’s core geographies, the addressable demand for its Digital automation platform is set to grow from
c.€6 billion in 2023 to c.€9 billion in 2027, representing a +10% CAGR, creating substantial growth opportunities in both communication and financial automation.

To capture this growth, Quadient is strongly positioned, leveraging on:

a sound base of highly predictable business, with over 16,500 customers, 82% subscription-based revenue,
and a churn rate well below 5%,
a highly recognized platform in financial & communication automation, and 84.5% of Saas customers,
across three regions,
a fully scalable and modulable platform, for small to large customers, driving new client acquisition (+2,600 in FY 2024) and record cross-sell of Digital solutions into Quadient Mail customers and increased upsell opportunities among existing customers,
an efficient go-to-market organisation that driving a 34% year-on-year increase in bookings in Q4 2024 and +12.7% growth of ARR at the end of the year.

Mail

Mail revenue reached €732 million in FY 2024, down 2.5% on an organic basis (-4.6% in Q4 2024 vs. Q4 2023). The reported growth stood at +0.4%, including the contribution of Frama.

Hardware sales recorded a minor -1.7% organic decline in FY 2024, despite a 7.3% drop registered in Q4 2024, mainly reflecting a high comparison basis related to deals signed in H2 2023.

Subscription-related revenue (68% of Mail sales) recorded a 2.9% organic decline in FY 2024.

EBITDA for Mail was €200 million for FY 2024. EBITDA margin reached 27.4%, down 2.5 points compared to FY 2023. Mail EBITDA margin was impacted by the dilutive effect of Frama acquisition, including integration costs. Frama’s performance is due to improve significantly from 2025 onward, with positive current EBIT already reached in FY 2024 and payback of the acquisition expected in FY 2025.

Thanks to its strong focus on customer acquisition, Quadient’s Mail business continues to outperform the market. In Q4 2024, commercial performance remained resilient in North America, particularly in highly regulated industries where secure mail communications are key.

As part of the customer expansion focus, outlook remains strong driven by a high customer satisfaction rate of 95.7% and robust cross-selling performance, especially in the US where a record-breaking performance in placement of Digital solutions was recorded in Q4 2024. Mail business also benefited from the positive impact of the ongoing US mailing systems decertification, though this impact is expected to conclude in Q1 2025. Lastly, Quadient aims at upgrading Frama’s installed base and initiating some cross-selling to promote its Digital offer to Frama’s customers.

At the end of January 2025, already 42.4% of Quadient installed base has been upgraded with its newest technology.

Lockers

Lockers revenue reached €94 million in FY 2024, a +4.3% increase on an organic basis, with strong momentum in the latter part of the year (+8.0% in Q4 2024 vs. Q4 2023, after a strong Q3 2024, up +14.3% year-on-year) and a +5.7% increase on a reported basis compared to FY 2023, including a marginal contribution from Package Concierge.

Subscription-related revenue was up 11.5% organically in FY 2024 (+19.6% in Q4 2024 vs. Q4 2023), benefiting from:

the continued strong volumes ramp up in the British and the French open networks;
the sustained strong momentum in the US, driven by higher monetization of usage fees;
a resilient performance in Japan, despite an unfavorable e-commerce environment.

Overall, subscription-related revenue stood at 64% of total revenue in FY 2024, up from 61% in FY 2023.

Non-recurring revenue (license & hardware sales and professional services) were down 6.8% organically in FY 2024. Hardware sales were still impacted by slower new installations in North America.

Quadient’s global locker installed base reached c.25,700 units at the end of FY 2024, including c. 3,000 units from Package Concierge, vs. c.20,200 units at the end of FY 2023. This is reflecting an acceleration in the pace of installation of new lockers, notably in the UK, fueled by the partnerships signed by Quadient to host parcel lockers in new suitable locations.

EBITDA for Lockers was above breakeven, at €1 million in FY 2024. EBITDA margin stood at 0.6%, up by 3.6 points compared to FY 2023. This significant profitability improvement, illustrated by a 6.7% EBITDA margin in H2 2024, was driven by growing recurring revenue and increased usage. Additionally, the revised commercial agreement with Yamato for the Japanese installed base was implemented at the beginning of H2 2023.

As part of the customer acquisition focus, Quadient is accelerating the pace of installation for new lockers in its open networks in Europe, mostly in France and the UK, with installed base up 145% year-on-year. This is supported by the additional deals signed for premium locations (including Morrisons Daily Stores and ScotRail…). Additionally, the trend for new installations in North America has turned positive in Q4, where market share leadership position in Residences and Universities remains robust.

As part of the customer expansion strategy, volumes from both pick-up and drop-off in European open networks saw a significant increase, growing sevenfold between Q4 2023 and Q4 2024. The momentum in North America for the locker network, particularly across the multifamily sector and higher education campuses was strong in Q4 2024. In Japan, macroeconomic conditions have impacted parcel volumes, but new initiatives, such as the new partnership with Japan Post, are aimed at driving volume growth and increasing adoption.

REVIEW OF 2024 FULL-YEAR RESULTS

Simplified P&L

In € million	FY 2024	FY 2023	Change
Sales	1,093	1,062	+2.8%
Gross profit	818	788	+3.7%
Gross margin	74.8%	74.2%
EBITDA	247	244	+1.2%
EBITDA margin	22.6%	23.0%
Current EBIT	146	147	(0.5)%
Current EBIT margin	13.4%	13.8%
Optimization expenses and other operating income & expenses	(23)	(15)	+58.0%
EBIT	123	132	(7.0)%
Financial income/(expense)	(39)	(31)	+24.8%
Income before tax	84	101	(16.8)%
Share of results of associated companies	1	(0)	n/a
Income taxes	(17)	(17)	+2.8%
Net income of continued operations	68	84	(19.4)%
Net income from discontinued operations	(0)	(14)	(98.7)%
Net attributable income	66	69	(3.4)%
Earnings per share	1.94	2.02
Diluted earnings per share	1.94	2.01

Gross margin stood at 74.8% in FY 2024 slightly up compared to FY 2023, due to lower cost of sales.

EBITDA⁽¹⁾ for the Group reached €247 million in FY 2024, up €3 million compared to FY 2023. EBITDA grew by 3.0% organically, driven by strong growth of 80% in Digital and improved profitability in Lockers, which more than compensated for the softer EBITDA performance in Mail. The EBITDA margin reached 22.6% in FY 2024. It was almost stable compared to FY 2023: despite the impact of the change in revenue mix and the dilutive effect of Frama acquisition, the Group EBITDA margin was supported by significant profitability gains in Digital and Lockers.

Depreciation and amortization stood at €101 million in FY 2024, compared to €98 million in FY 2023. This slightly higher depreciation mainly reflects the increase in Lockers’ asset base.

Current operating income (current EBIT) reached €146 million in FY 2024 compared to €147 million in FY 2023, up 2.2% on an organic basis. Current EBIT margin stood at 13.4% of sales in FY 2024 compared to 13.8% in FY 2023.

Optimization costs and other operating expenses stood at €23 million in FY 2024, versus €15 million in FY 2023. This increase mainly relates to the write-off of an IT project, additional office optimization and Frama restructuring costs.

Consequently, EBIT reached €123 million in FY 2024, versus €132 million recorded in FY 2023.

Net attributable income

Net cost of debt was up from €29 million in FY 2023 to €39 million in FY 2024, impacted by higher interest rates. The currency gains & losses and other financial items was broadly flat in FY 2024, compared to a loss of €2 in FY 2023. Overall, net financial result was a loss of €39 million in FY 2024 compared to a loss of €31 million in FY 2023.

Income tax expense was stable year-on-year at €17 million.

Net income from discontinued operations of the Mail Italian subsidiary was null in FY 2024, compared to a €14 million loss in FY 2023. This loss included exceptional charges related to the sale process for this subsidiary, which was sold to a local mail distribution company in October 2024.

Net attributable income after minority interests amounted to €66 million in FY 2024 compared to €69 million in FY 2023.

Earnings per share⁽²⁾ stood at €1.94 in FY 2024 compared to €2.02 in FY 2023. The fully diluted earnings per share⁽²⁾ was €1.94 in FY 2024 compared to €2.01 in FY 2023.

Cash flow generation

The change in working capital was a net cash inflow of €9 million in FY 2024 compared to a net cash outflow of €6 million in FY 2023, mostly reflecting the positive impact from timing on prepaid expenses and customers deposits.

The leasing portfolio and other financing services stood at €623 million as of 31 January 2025, compared to €598 million as of 31 January 2024, up on an organic basis (i.e. excluding currency impact of €18 million) for the first time in several years thanks to good hardware placements in Mail. While generating future subscription-related revenue, this increase in lease receivables resulting from the good performance in the placement of new equipment translates into a cash outflow of
€7 million in FY 2024. At the end of FY 2024, the default rate of the leasing portfolio stood at around 1.1% compared to c.1.3% at the end of FY 2023.

Interest and taxes paid increased to €67 million in FY 2024 versus the amount of €55 million paid in FY 2023. The difference was mostly explained by higher interest rates in FY 2024.

Capital expenditure reached €108 million in FY 2024, up €7 million compared to FY 2023, mostly due to UK locker open network deployment. Capex for Digital reached €24 million in FY 2024, slightly up compared to €22 million in FY 2023 and was mainly focused on R&D and platform development. Capex for Mail remained at fairly high level of €51 million
(vs. €53 million in FY 2023), due to continued high placement of machines related to the US decertification, which is expected to end in Q1 2025. Capex for Lockers increased from €26 million to €33 million to support the ramp-up of the deployment of the open network in the UK. The sale of Frama real estate in Switzerland generated €6 million in cash inflows in FY 2024.

All in all, cash flow after capital expenditure (free cash flow) reached €66 million in FY 2024, compared to €64 million in FY 2023.

Leverage and liquidity position

Net debt stood at €741 million as of 31 January 2025, a slight increase against €709 million as of 31 January 2024. In FY 2024, Quadient successfully raised approximately €325 million in new facilities, including the following transactions in H2 2024:

in October 2024, the Company secured EBRD financing, including a €25 million Schuldschein;
in December 2024, the Company secured a USD 50 million bank loan;
in January 2025, Quadient further strengthened its financial position with the issuance of a USD 100 million USPP.

These new facilities enabled Quadient to repay post-closing its €260 million bond due in February 2025 and settle the repayment of Schuldschein loans for €29 million, also due in early 2025. As a result of these transactions, the Company’s average debt maturity has been extended to four years as of the end of February 2025, compared to three years at the end of FY 2023.

The leverage ratio (net debt/EBITDA) remained broadly stable at 3.0x⁽³⁾ as of 31 January 2025 compared to 2.9x⁽³⁾ as of 31 January 2024. Excluding leasing, Quadient leverage ratio remained stable at 1.7x⁽³⁾ as of 31 January 2025, despite the acquisitions of Frama and Package Concierge in 2024, as well as the implementation of a share buyback programs.

As of 31 January 2025, the Group had a strong liquidity position of €667 million, split between €367 million in cash and a €300 million undrawn credit line, maturing in 2029.

Shareholders’ equity stood at €1,113 million as of 31 January 2025 compared to €1,069 million as of 31 January 2024. The gearing ratio⁽⁴⁾ stood at 66.6% as of 31 January 2025.

SHAREHOLDER’ RETURN

Proposed dividend for FY 2024 stands at €0.70 per share, representing an 8% increase against FY 2023, and a payout ratio of 36.1% of net income, higher than Quadient’s minimum 20% pay-out ratio of net income as per the Group’s dividend policy. This represents a €0.05 year-on-year increase, for the fourth consecutive year. The dividend is subject to approval by the Annual General Meeting, scheduled for 13 June 2025, and will be paid in cash in one instalment on 6 August 2025.

In addition, Quadient’s announced in September 2024 the launch of a share buyback program for a total consideration of up to €30 million. To date, €10 million worth of shares have been repurchased, with the program set to be executed over an
18-month⁽⁵⁾ period. This operation demonstrates Quadient’s confidence in the value creation potential of its “Elevate to 2030” strategic plan, its ability to reach its FY 2026 leverage ratio target⁽⁶⁾ and is in line with the capital allocation policy of the Company, while improving shareholders’ return.

OUTLOOK

The evolving dynamics within Quadient’s business portfolio, characterized by strong growth in Digital and Lockers revenue alongside a moderate decline in Mail revenue, will naturally drive a year-on-year acceleration in the Company’s total revenue growth.

As Digital and Lockers continue to expand their share of Quadient’s revenue and profit, while simultaneously improving their profitability, this shift is expected to contribute to a higher growth in current EBIT

As a result, Quadient targets an acceleration in organic revenue growth and in current EBIT organic growth in 2025 compared to 2024.

Quadient also confirms its 3-year guidance for the 2024-2026 period of minimum 1.5% organic revenue CAGR and minimum 3% organic current EBIT CAGR.

Q4 2024 BUSINESS HIGHLIGHTS

Avaloq and Quadient Partner to Elevate Client Communications for Financial Services
On 3 December 2024, Quadient and Avaloq announced today their partnership to offer unrivaled customer communications management (CCM) capabilities for the financial services industry. Avaloq has selected Quadient Inspire as its standard CCM solution, seamlessly integrating it into the Avaloq platform.

Quadient Launches SimplyMail in Europe to Help Small Businesses Leverage Digital Solutions to Enhance Efficiency in Mail Operations
On 11 December 2024, Quadient announced the launch in Europe of SimplyMail, a solution designed to address the growing needs for smaller businesses to automate and optimize their mail operations with ease.

Quadient Named a Worldwide Automated Document Generation and CCM Leader by IDC
On 12 December 2024, Quadient announced it has been named a Leader in the IDC MarketScape: Worldwide Automated Document Generation and Customer Communication Management 2024 Vendor Assessment.

Quadient Recognized in Two IDC MarketScape Reports for Accounts Receivable Automation Applications
On 16 December 2024, announced it has been named a Leader in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for Small and Midmarket 2024 Vendor Assessment. Additionally, Quadient has been recognized for the first time as a Major Player in the IDC MarketScape: Worldwide Accounts Receivable Automation Applications for the Enterprise 2024 Vendor Assessment.

Quadient Surpasses 25,000 Global Locker Installations with US Package Concierge Acquisition, Setting Sights on Exceeding €100M of Locker Revenue in 2025
On 18 December 2024, Quadient announced the acquisition of US-based parcel management solutions provider Package Concierge®, exceeding the 25,000-unit mark in its global installed base. Package Concierge provides innovative digital locker technology that addresses the growing challenges of package management in residential, commercial, retail and university campuses across the United States.

Quadient strengthens its financial position with a USD50 million bank loan from Bank of America
On 20 December 2024, announced a USD50 million bank loan from Bank of America. This new credit facility, which comes with a 3-year maturity at a variable rate, strengthens Quadient’s financial position ahead of debt maturities due in 2025.

Report by Leading Analyst Firm Shows Quadient Recorded the Fastest Growth in 2023 Among CCM Market Leaders
On 10 January 2025, Quadient announced that a newly released report by market research and consulting firm IDC shows Quadient rapidly closing the gap on the top position. Quadient’s 13.7% year-on-year revenue growth in 2023 has accelerated from its 11% growth in 2022. This is also the fastest growth among the major Customer Communications Management (CCM) vendors globally, outperforming the overall market growth.

Quadient Secures New c.$1.6 Million Contract to Enhance US Government Agency’s Mail Automation Capacity
On 14 January 2025, Quadient announced that it has been selected by a US government agency to modernize its mail automation infrastructure in a contract valued at c.$1.6 million. This follows a previous announcement in October 2024, where Quadient was awarded a contract worth nearly $1 million for a similar modernization project with another federal agency.

Leading Human Resources Technology Company Selects Quadient for Accessibility Compliance in Customer Communications
On 16 January 2025, Quadient announced that a leading US provider of integrated benefits, payroll, and human resources cloud solutions has selected customer communications management (CCM) platform Quadient Inspire to ensure accessibility compliance for its US federal agency client.

Quadient Partners with ScotRail to Introduce Parcel Lockers at Stations Across Scotland
On 21 January 2025, Quadient announced a partnership with ScotRail to deploy Parcel Pending by Quadient automated lockers across Scotland’s rail network. ScotRail, Scotland’s national rail operator, is enhancing its passenger experience and operational efficiency with the installation of parcel lockers in its stations.

Quadient strengthens its financial position through a USD100 million US Private Placement from MetLife
On 22 January 2025, Quadient announced that it has signed a new USD100 million US Private Placement (USPP) with MetLife Investment Management (“MIM”), reinforcing its financial position. This new USPP of USD 100 million senior notes has a
7-year average maturity and comes with an additional shelf facility allowing the issue of senior notes for a maximum aggregate principal amount of USD50 million.

Quadient Teams Up with Buzz Bingo to Bring Convenient Parcel Lockers to Bingo Clubs Across the UK
On 28 January 2025, Quadient announced a partnership with Buzz Bingo to deploy Parcel Pending by Quadient automated lockers in 35 of its 81 bingo clubs across the UK, with plans for further installations in the future. This collaboration enhances parcel collection, delivery, and return convenience while improving the customer experience at Buzz Bingo locations.

Leading US Law Firm Chooses Quadient in a Deal Over $1M to Streamline Mailing, Shipping, and Accounting Processes
On 30 January 2025, Quadient announced a new contract with one of the largest injury law firms in the US, transitioning the firm from its long-standing provider to Quadient. Under the new agreement, worth over 1 million dollars, the firm is rolling out nearly 100 Quadient iX-Series mailing systems at offices across the country, all seamlessly integrated with Quadient’s cloud-based S.M.A.R.T. accounting and shipping software.

Quadient Reports Strong Year-End Locker Usage Growth in Multifamily and Higher Education Campuses in North America
On 31 January 2025, Quadient announced strong year-end momentum in the adoption and usage of its Parcel Pending by Quadient locker network across multifamily and higher education campuses in North America.

POST-CLOSING EVENTS

Morrisons Partners with Quadient for Convenient Parcel Delivery at its Morrisons Daily Stores
On 18 February 2025, Quadient announced a new partnership with Morrisons. The partnership will see Parcel Pending by Quadient parcel lockers installed at 230 Morrisons Daily stores by spring 2025.

Quadient Enables New Shipping Service with Japan Post on its Open Locker Network, Driving Convenience and Increased Parcel Volume
On 3 March 2025, Quadient announced an expanded partnership between Japan Post and Packcity Japan, a joint venture between Quadient and Yamato Transport. Thanks to the extended partnership, consumers will not only receive Japan Post deliveries at Packcity Japan’s nationwide open network of automated parcel lockers, but they will also now be able to ship parcels from the lockers, called PUDO stations. Consumers using Japan Post’s Yu-Pack parcel service use a mobile app to ship from a PUDO station, eliminating the need to wait at delivery counters or manually handling shipping slips.

Quadient Maintains Leader Position on Aspire Leaderboard for Customer Communications and Interaction Experience Software
On 13 March 2025, Quadient announced it has maintained its leadership position on the Aspire Leaderboard. Produced by independent advisory firm Aspire CCS, the Aspire Leaderboard highlights and compares vendors in the customer communications management (CCM) and customer experience management software space. It is updated in real-time as vendors release enhancements and adjust strategies.

To know more about Quadient’s news flow, previous press releases are available on our website at the following address: https://invest.quadient.com/en/newsroom.

CONFERENCE CALL & WEBCAST

Quadient will host a conference call and webcast today at 6:00 pm Paris time (5:00 pm London time).

To join the webcast, click on the following link: Webcast.

To join the conference call, please use one of the following phone numbers:

▪ France: +33 (0) 1 70 37 71 66.
▪ United States: +1 786 697 3501.
▪ United Kingdom (standard international): +44 (0) 33 0551 0200.

Password: Quadient

A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.

Calendar

3 June 2025: Q1 2025 sales release (after close of trading on the Euronext Paris regulated market)
13 June 2025: Annual General Meeting

About Quadient®

Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.

For more information about Quadient, visit https://invest.quadient.com/en/.

Contacts

APPENDIX

Digital: New name for Intelligent Communication Automation

Mail: New name for Mail-Related Solutions

Lockers: New name for Parcel Locker Solutions

FY 2024 and Q4 2024 consolidated sales

FY 2024 consolidated sales by geography

In € million	2024	2023	Change	Organic change
North America	632	607	+4.0%	+2.8%
Main European countries^(a)	369	354	+4.5%	(2.0)%
International^(b)	92	101	(9.7)%	(5.4)%
Group total	1,093	1,062	+2.8%	+0.4%
Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

Q4 2024 consolidated sales by Solution

In € million	Q4 2024	Q4 2023	Change	Organic change
Digital	73	65	+11.5%	+10.1%
Mail	196	196	(0.3)%	(4.6)%
Lockers	27	22	+20.2%	+8.0%
Group total	295	284	+4.1%	(0.2)%

Q4 2024 consolidated sales by geography

In € million	Q4 2024	Q4 2023	Change	Organic change
North America	171	160	+7.0%	+2.5%
Main European countries^(a)	100	97	+3.3%	(2.9)%
International^(b)	24	27	(10.7)%	(6.9)%
Group total	295	284	+4.1%	(0.2)%
Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom International includes the activities of Digital, Mail and Lockers outside of North America and the Main European countries

Financial statements – Full-year 2024

Consolidated income statement

In € million	FY 2024 (period ended on 31 January 2025)	FY 2023 (period ended on 31 January 2024)
Sales	1,093	1,062
Cost of sales	(275)	(274)
Gross margin	818	788
R&D expenses	(63)	(63)
Sales and marketing expenses	(287)	(275)
Administrative and general expenses	(187)	(176)
Service and support expenses	(116)	(109)
Employee profit-sharing, share-based payments and other expenses	(10)	(7)
M&A and strategic projects expenses	(8)	(11)
Current operating income	146	147
Optimization expenses and other operating income & expenses	(23)	(15)
Operating income	123	132
Financial income/(expense)	(39)	(31)
Income before taxes	84	101
Income taxes	(17)	(17)
Share of results of associated companies	1	(0)
Net income from continued operations	68	84
Net income of discontinued operations	(0)	(14)
Net income	67	70
Of which: Minority interests	1	1
Net attributable income	66	69

Simplified consolidated balance sheet

Assets In € million	FY 2024 (period ended on 31 January 2025)	FY 2023 (period ended on 31 January 2024)
Goodwill	1,131	1,082
Intangible fixed assets	119	121
Tangible fixed assets	170	156
Other non-current financial assets	65	65
Other non-current receivables	2	2
Leasing receivables	623	598
Deferred tax assets	38	17
Inventories	75	67
Receivables	240	228
Other current assets	79	84
Cash and cash equivalents	367	118
Current financial instruments	1	2
Assets held for sale	0	9
TOTAL ASSETS	2,910	2,550

Liabilities In € million	FY 2024 (period ended on 31 January 2025)	FY 2023 (period ended on 31 January 2024)
Shareholders’ equity	1,113	1,069
Non-current provisions	12	12
Non-current financial debt	722	715
Current financial debt	347	66
Lease obligations	38	46
Other non-current liabilities	3	2
Deferred tax liabilities	101	104
Financial instruments	5	5
Trade payables	104	79
Deferred income	223	212
Other current liabilities	242	225
Liabilities held for sale	0	15
TOTAL LIABILITIES	2,910	2,550

Simplified cash flow statement

In €millions	FY 2024 (period ended on 31 January 2025)	FY 2023 (period ended on 31 January 2024)
EBITDA	247	244
Other elements	(15)	(19)
Cash flow before net cost of debt and income tax	233	225
Change in the working capital requirement	9	(6)
Net change in leasing receivables	(7)	(0)
Cash flow from operating activities	235	219
Interest and tax paid	(67)	(55)
Net cash flow from operating activities	168	165
Capital expenditure	(108)	(101)
Disposal of assets	6	0
Net cash flow after investing activities	66	64
Impact of changes in scope	(37)	(5)
Net cash flow after acquisitions and divestments	29	59
Dividends paid	(22)	(21)
Change in debt and others	219	(39)
Net cash flow after financing activities	226	(1)
Cumulative translation adjustments on cash	(6)	(2)
Net cash from discontinued operations	(1)	(9)
Change in net cash position	219	(11)

^([1]) EBITDA = current operating income + provisions for depreciation of tangible and intangible fixed assets.
^([2]) For the FY 2024, the average compounded number of shares is 34,114,060. Diluted number of shares is 34,486,288.
([3]) Including IFRS 16
([4]) Net debt / shareholder’s equity
([5]) Subject to the renewal of the share buyback authorizations at the 2025 AGM
([6]) FY 2026 leverage ratio excluding leasing target of 1.5x

Attachment

The MIL Network –

March 27, 2025

MIL-OSI United Nations: Pact for the Future: Countries urged to translate pledges into action

Source: United Nations 2

26 March 2025 UN Affairs

UN Member States met on Wednesday for the first of three key meetings to advance a global agreement that pledges concrete actions to achieve a safer, more peaceful, sustainable and inclusive world for generations to come.

General Assembly President Philémon Yang convened the informal interactive dialogue on the implementation of the Pact for the Future, which covers five areas: sustainable development, international peace and security, science and technology, youth, and transforming global governance.

It was adopted at a UN summit in September 2024 together with two annexes – a Global Digital Compact and a Declaration for Future Generations – marking a significant step towards a renewed multilateral system.

For a look back at our full live coverage on the day, go here.

‘A shared commitment’

“The Pact for the Future is a shared commitment to a more just, sustainable and secure world. But a promise is only meaningful when it has been translated into action,” Mr. Yang told delegates gathered in the Trusteeship Council at UN Headquarters in New York.

He recognized the complexity and unique challenges that each country will face in implementation, including least developed countries, landlocked developing countries, and small island developing states.

Mr. Yang emphasized that implementation must reflect what works best for each nation, which requires tailored approaches that consider resource restraints and capacity gaps. 

“To succeed, we must build an enabling environment through smart investments and right reforms,” he said, calling for closing the resource gap, flexible trade policies, and stronger international cooperation in technical assistance, capacity-building and knowledge-sharing.

Divisions and mistrust

UN Secretary-General António Guterres highlighted action that has occurred since the Pact’s adoption but also the work that still lies ahead amid “a long list of challenges” that include intensifying conflicts and climate disasters.

“Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself,” he said.

“Meanwhile, critical funding is being drastically cut for people in desperate need – with more reductions to come,” he warned.

Progress on peace efforts

Mr. Guterres updated on progress in four key areas, starting with peace and security. He said the Pact represents a commitment to strengthen tools to prevent and address conflict and ensure that UN peace efforts respond to new and emerging threats.

In this regard, he noted progress on a review of all Peace Operations, as requested in the agreement.

“The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable – with viable exit strategies and transition plans,” he said.

“It will also recognize the limitations of our operations where there is little or no peace to keep,” he added.

Fairer financial system

Turning next to finance for development, Mr. Guterres said the UN has been working closely with the World Bank and the International Monetary Fund (IMF) to follow-up on action points in the Pact regarding improvements to the international financial system.

“Developing countries must be represented fairly in the governance of the very institutions they depend on,” he said.

The Secretary-General also has established an expert group to identify practical steps for action on debt.

“At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, making them bigger and bolder,” he said.

“This includes both stretching their balance sheets and recapitalization. And we must ensure that concessional finance is deployed where it is most needed.”

Meanwhile, the UN will also continue pushing forward on other priorities outlined in the Pact, including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

Focus on youth

Mr. Guterres was adamant the international community must deliver for young people and generations to come.

He said progress is being made towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

The UN is also developing core principles to strengthen youth engagement across its work, while the Declaration on Future Generations looks to those yet to be born.

The Secretary-General said that later this year he will appoint a Special Envoy for Future Generations to scale up these efforts.

Closing digital divides

His final point concerned technology, and Mr. Guterres reported that the UN is implementing the Global Digital Compact’s calls to close all digital divides and ensure everyone, everywhere, benefits from a safe and secure digital space.

Particular focus is on Artificial Intelligence (AI), he said, and a report is being developed on voluntary financing options to help countries in the Global South to harness AI for the greater good.

Furthermore, the zero draft of a resolution to establish the International Independent Scientific Panel on AI and convene a Global Dialogue on AI Governance was circulated last week.

The UN chief urged the General Assembly to act swiftly to establish the Panel, ensure AI expertise and knowledge are available to all countries, and support the Global Dialogue.

UN taking action

Mr. Guterres added that as the UN pushes for these priorities, the global body is also improving the efficiency and effectiveness of its operations, in line with the Pact.

“We’re already seeing results: from speeding-up disaster assessments in the Asia-Pacific, to strengthening social security programmes in Malawi, to consolidating Information Technology functions across the UN System,” he said.

The Secretary-General stressed that this work must continue “especially in light of the funding challenges we face,” underlining the need for support.

MIL OSI United Nations News –

March 27, 2025
MIL-OSI: Bitcoinese Launches Blockchain Research Lab to Accelerate Innovation and Global Collaboration

Source: GlobeNewswire (MIL-OSI)

Hamburg, Germany, March 26, 2025 (GLOBE NEWSWIRE) — Bitcoinese has officially launched its new Blockchain Research Lab, a dedicated initiative focused on advancing blockchain infrastructure, smart contract security, cross-chain technology, and applied AI systems. This move positions Bitcoinese at the forefront of blockchain research, aiming to foster innovation through global academic and industry partnerships.

Establishing a Research-Driven Future for Blockchain Development

The newly formed Bitcoinese Blockchain Research Lab will serve as a central hub for exploring next-generation blockchain solutions, with a strong emphasis on interdisciplinary collaboration. By uniting researchers, developers, and technologists, the lab will produce whitepapers, prototypes, and open-source frameworks designed to solve complex challenges in digital infrastructure.

Key areas of focus include:

Scalable Blockchain Architecture: Researching high-throughput, low-latency consensus mechanisms and energy-efficient systems.

Smart Contract Security: Developing automated audit tools and formal verification methods for decentralized applications.

Cross-Chain Protocols: Designing interoperability frameworks for seamless asset transfers between blockchains.

AI Integration: Investigating the convergence of artificial intelligence and decentralized ledgers for predictive analytics and autonomous finance.

The lab will operate with a global, open-access model, allowing select external contributors to participate in research programs and collaborate on technical publications.

Partnerships with Universities and Industry Experts

To ensure real-world impact, Bitcoinese is forming strategic partnerships with universities, technology institutes, and blockchain research foundations across Europe, Asia, and North America. These collaborations will involve joint publications, co-hosted conferences, and talent development programs aimed at fostering the next generation of blockchain engineers and scientists.

Bitcoinese will also offer research grants and fellowships to emerging scholars and developers working on critical blockchain advancements. The lab will regularly publish peer-reviewed studies and technical documentation for the public and industry stakeholders.

Accelerating Open-Source Innovation

A core goal of the Blockchain Research Lab is to support the open-source blockchain ecosystem. All major findings and tools developed by the lab will be published under open-source licenses, enabling adoption and contribution from global communities.

Initial projects under development include:

A modular testing environment for smart contract stress testing.

A decentralized benchmarking tool for cross-chain bridges.

An open AI oracle system for autonomous smart contract execution.

These initiatives are expected to provide essential infrastructure for developers working on DeFi, enterprise blockchain, supply chain, and digital identity solutions.

Bitcoinese’s Commitment to Long-Term Technological Advancement

By launching the Blockchain Research Lab, Bitcoinese reinforces its commitment to long-term technological innovation and global cooperation. The company views research as a foundational pillar of its ecosystem and believes that investment in knowledge, transparency, and experimentation is critical to driving the next wave of blockchain adoption.

Bitcoinese plans to host its first Blockchain Research Forum in the coming year, inviting scholars, developers, and policymakers to engage in discussions around security, regulation, scalability, and ethics in decentralized technology.

This research-led initiative underscores Bitcoinese’s vision of building a blockchain future grounded in evidence-based development and collaborative progress.

The MIL Network –

March 27, 2025
MIL-OSI Global: Trump’s push for AI deregulation could put financial markets at risk

Source: The Conversation – Canada – By Sana Ramzan, Assistant Professor in Business, University Canada West

As Canada moves toward stronger AI regulation with the proposed Artificial Intelligence and Data Act (AIDA), its southern neighbour appears to be taking the opposite approach.

AIDA, part of Bill C-27, aims to establish a regulatory framework to improve AI transparency, accountability and oversight in Canada, although some experts have argued it doesn’t go far enough.

Meanwhile, United States President Donald Trump’s is pushing for AI deregulation. In January, Trump signed an executive order aimed at eliminating any perceived regulatory barriers to “American AI innovation.” The executive order replaced former president Joe Biden’s prior executive order on AI.

Read more:
How the US threw out any concerns about AI safety within days of Donald Trump coming to office

Notably, the U.S. was also one of two countries — along with the U.K. — that didn’t sign a global declaration in February to ensure AI is “open, inclusive, transparent, ethical, safe, secure and trustworthy.”

Eliminating AI safeguards leaves financial institutions vulnerable. This vulnerability can increase uncertainty and, in a worst-case scenario, increase the risk of systemic collapse.

Read more:
The Paris summit marks a tipping point on AI’s safety and sustainability

The power of AI in financial markets

AI’s potential in financial markets is undeniable. It can improve operational efficiency, perform real-time risk assessments, generate higher income and forecast predictive economic change.

My research has found that AI-driven machine learning models not only outperform conventional approaches in identifying financial statement fraud, but also in detecting abnormalities quickly and effectively. In other words, AI can catch signs of financial mismanagement before they spiral into a disaster.

In another study, my co-researcher and I found that AI models like artificial neural networks and classification and regression trees can predict financial distress with remarkable accuracy.

Artificial neural networks are brain-inspired algorithms. Similar to how our brain sends messages through neurons to perform actions, these neural networks process information through layers of interconnected “artificial neurons,” learning patterns from data to make predictions.

Similarly, classification and regression trees are decision-making models that divide data into branches based on important features to identify outcomes.

Our artificial neural networks models predicted financial distress among Toronto Stock Exchange-listed companies with a staggering 98 per cent accuracy. This suggests suggests AI’s immense potential in providing early warning signals that could help avert financial downturns before they start.

However, while AI can simplify manual processes and lower financial risks, it can also introduce vulnerabilities that, if left unchecked, could pose significant threats to economic stability.

The risks of deregulation

Trump’s push for deregulation could result in Wall Street and other major financial institutions gaining significant power over AI-driven decision-making tools with little to no oversight.

When profit-driven AI models operate without the appropriate ethical boundaries, the consequences could be severe. Unchecked algorithms, especially in credit evaluation and trading, could worsen economic inequality and generate systematic financial risks that traditional regulatory frameworks cannot detect.

Algorithms trained on biased or incomplete data may reinforce discriminatory lending practices. In lending, for instance, biased AI algorithms can deny loans to marginalized groups, widening wealth and inequality gaps.

In addition, AI-powered trading bots, which are capable of executing rapid transactions, could trigger flash crashes in seconds, disrupting financial markets before regulators have time to respond. The flash crash of 2010 is a prime example where high-frequency trading algorithms aggressively reacted to market signals causing the Dow Jones Industrial Average to drop by 998.5 points in a matter of minutes.

Furthermore, unregulated AI-driven risk models might overlook economic warning signals, resulting in substantial errors in monetary control and fiscal policy.

Striking a balance between innovation and safety depends on the ability for regulators and policymakers to reduce AI hazards. While considering financial crisis of 2008, many risk models — earlier forms of AI — were wrong to anticipate a national housing market crash, which led regulators and financial institutions astray and exacerbated the crisis.

A blueprint for financial stability

My research underscores the importance of integrating machine learning methods within strong regulatory systems to improve financial oversight, fraud detection and prevention.

Durable and reasonable regulatory frameworks are required to turn AI from a potential disruptor into a stabilizing force. By implementing policies that prioritize transparency and accountability, policymakers can maximize the advantages of AI while lowering the risks associated with it.

A federally regulated AI oversight body in the U.S. could serve as an arbitrator, just like Canada’s Digital Charter Implementation Act of 2022 proposes the establishment of an AI and Data Commissioner. Operating with checks and balances inherent to democratic structures would ensure fairness in financial algorithms and stop biased lending policies and concealed market manipulation.

Financial institutions would be required to open the “black box” of AI-driven alternatives by mandating transparency through explainable AI standards — guidelines that are aimed at making AI systems’ outputs more understandable and transparent to humans.

Machine learning’s predictive capabilities could help regulators identify financial crises in real-time using early warning signs — similar to the model developed by my co-researcher and me in our study.

However, this vision doesn’t end at national borders. Globally, the International Monetary Fund and the Financial Stability Board could establish AI ethical standards to curb cross-border financial misconduct.

Crisis prevention or catalyst?

Will AI still be the key to foresee and stop the next economic crisis, or will the lack of regulatory oversight cause a financial disaster? As financial institutions continue adopt AI-driven models, the absence of strong regulatory guardrails raises pressing concerns.

Without proper safeguards in place, AI is not just a tool for economic prediction — it could become an unpredictable force capable of accelerating the next financial crisis.

The stakes are high. Policymakers must act swiftly to regulate the increasing impact of AI before deregulation opens the path for an economic disaster.

Without decisive action, the rapid adoption of AI in finance could outpace regulatory efforts, leaving economies vulnerable to unforeseen risks and potentially setting the stage for another global financial crisis.

Sana Ramzan 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. Trump’s push for AI deregulation could put financial markets at risk – https://theconversation.com/trumps-push-for-ai-deregulation-could-put-financial-markets-at-risk-251208

MIL OSI – Global Reports –

March 27, 2025
MIL-OSI: Dinewise, Inc. (DWIS) Releases New Corporate Structure

Source: GlobeNewswire (MIL-OSI)

Dinewise files for Name Change and negotiates with Acquisition Targets

ATLANTA, GA, March 26, 2025 (GLOBE NEWSWIRE) — Dinewise, Inc (OTC PINK-DWIS) (referred to as “Dinewise”, “we”, “us”, “our” or the “Company”) A leading national technology conglomerate specializing in automotive, fintech, and entertainment solutions officially announces its rebranding and strategic acquisition targets today.

The Dinewise Board of Directors has approved a corporate name change, which is currently being filed with the State of Nevada. The company will now be known as Superstar Platforms, Inc. (“Superstar”), in honor of its patriarch, Mel Farr, Sr., who was widely recognized as the Superstar Dealer. Mel Farr, Sr. embodied the American Dream, rising from humble beginnings in Beaumont, Texas, to becoming the largest African American business in the country during the 1990s. He was a pioneer in the automotive and retail industries, creating opportunities for countless others. His iconic jingle, “Mel Farr, the Superstar, for a Farr Better Deal,” still resonates with many, even decades later.

Superstar Platforms will serve as the parent company that owns and controls a diversified portfolio of subsidiaries across various industries. Growth will primarily be driven through strategic acquisitions. The company is finalizing its negotiations with TitlePal, a fintech company that has developed an innovative online solution for Title Pawn transactions, and anticipates closing the acquisition in Q2/ 2025 with minimal shareholder dilution. Additionally, Superstar is in advanced discussions to become the exclusive North American distributor for a multinational automotive company.

PawnTrust, the company’s specialized marketplace for pawn shops, will now operate as a subsidiary of Superstar. The platform is scheduled to launch in June 2025.

“My father frequently quoted Lucius Annaeus Seneca, saying, ‘If a man does not know to which port he sails, no wind is favorable.’ The corporate structure we’ve built serves as the foundation for our success. With this structure in place, we can intensely drive our initiatives forward,” Michael Farr, Chief Executive Officer.

Superstar Platforms, Inc. is now positioned to file a registration statement, moving swiftly toward becoming a fully SEC-reporting company.

About Superstar Platforms

Superstar Platforms, a leading national technology conglomerate, owns PawnTrust— a specialized marketplace designed exclusively for the approximately 11,000 pawn shops across the country. The online marketplace (www.pawntrust.com) digitizes the inventory using advanced image recognition algorithms to automate item descriptions of the participating pawn shops and markets them on a national scale. The marketplace contains cutting-edge technology that streamlines the borrowing, buying, and bartering transactions typically found at a pawn shop. The platform plans to leverage Artificial Intelligence (AI) to optimize pricing, reduce fraud, and create personalized search recommendations to enhance the customer’s experience. These enhancements let consumers experience a frictionless shopping experience on their mobile app that gives them instant access to this nationwide inventory of pawn shops. Not only does this provide a more efficient way for consumers to shop, eliminating the need to visit multiple stores, but it also amplifies the reach of individual pawn shop owners. By joining the PawnTrust- ‘Pawn Partners’ network, shop owners gain access to a broader audience, enhancing their visibility and sales opportunities. This innovative approach aligns customer convenience with business growth, reshaping how people interact with the pawn industry. Consumers that purchase items outside of their local area will have their items conveniently shipped to them. As the intermediary in each transaction, PawnTrust earns a fee on every item sold in the marketplace. Many of these local pawn shops lack an online presence or the capital to market their inventory on a national scale. By bridging this gap, PawnTrust opens up opportunities for incremental sales from a wider buying base, effectively transforming the pawn shop and micro-lending industries. This model not only supports local businesses but also extends their reach, driving growth and innovation within the market.”

Forward-Looking Information

This release includes statements that may constitute ”forward-looking” statements, usually containing the words ”believe,” ”estimate,” ”project,” ”expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, risks and uncertainties related to the current unknown duration and severity of the COVID-19 pandemic and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Investor Relations:
Resources Unlimited
718-269-3366
mike@resourcesunlimitedllc.com

The MIL Network –

March 27, 2025
MIL-OSI: Paperclip joins forces with White Swan to Streamline and Digitize the Insurance Sales Process with Seamless Data Integration

Source: GlobeNewswire (MIL-OSI)

HACKENSACK, N.J., March 26, 2025 (GLOBE NEWSWIRE) — Paperclip (OTCMKTS:PCPJ), a publicly traded leader in insurance data management and automation, has announced a strategic integration with White Swan, an AI-powered, no-code platform transforming insurance distribution. This partnership enhances insurance application processing, data workflows, and multi-carrier submissions, reducing administrative friction for agents and financial services firms.

Through this collaboration, Paperclip’s Mojo—a cutting-edge solution for processing and automating insurance data management—now seamlessly connects with White Swan’s AI-powered sales platform, bringing together the best in data automation and modernized insurance distribution.

“At Paperclip, we’re committed to modernizing insurance workflows through automation and intelligent data management,” said Bill Weiss, CEO at Paperclip. “Partnering with White Swan expands the impact of our technology, bringing seamless front-end digital distribution to our industry-leading back-end automation.”

This integration enables:

• Seamless, data-driven insurance sales – White Swan’s marketing, education, and quoting tools help advisors engage clients, while Paperclip ensures structured, accurate data processing throughout the application journey.
• Faster, more efficient application workflows – White Swan enables a frictionless digital application process, while Paperclip automates document structuring and carrier submissions, reducing administrative efforts.
• Integrated with major agency management systems (AMS) – Paperclip ensures smooth data flow to AMS platforms like iPipeline, AgencyBloc, SmartOffice, Salesforce, Agency Integrator, and NetX360.
• Compliance-ready and scalable – White Swan’s intelligent application system ensures a pleasant client experience, while Paperclip automates processing, compliance, and secure document handling for long-term scalability.

“White Swan’s mission is to make insurance sales frictionless,” said Pontus Lagerberg, CEO at White Swan. “By integrating with Paperclip, we’re ensuring that the digital experience we provide advisors is backed by powerful automation that simplifies data handling, compliance, and carrier submissions.”

By bridging AI-powered digital distribution with Paperclip’s industry-leading data infrastructure, this integration simplifies insurance sales while ensuring compliance, accuracy, and scalability.

Learn more about how this integration is empowering financial professionals, streamlining insurance sales, and shaping the future of the industry by visiting https://paperclip.com/white-swan-paperclip/ or https://www.whiteswan.io/integrations/paperclip.

About Paperclip
With over three decades of customer-centric innovation, Paperclip is a proven strategic partner that continues to revolutionize data encryption, content supply chain, and document management for Fortune 1000 companies worldwide. Paperclip’s innovative solutions—such as Mojo, Virtual Client Folder (VCF), and SAFE—have helped the financial and insurance industries automate compliance, streamline carrier submissions, and optimize data processing. Paperclip’s technology is trusted by insurance carriers, agencies, and financial institutions to securely manage documents and drive operational efficiency.
As a trusted leader, Paperclip continues to innovate, adapt and excel within a rapidly changing digital world. Learn more at www.paperclip.com.

About White Swan
White Swan is an AI-enabled platform that serves as a comprehensive B2B life & LTC insurance solution, designed to simplify insurance automation and sales digitization for businesses and advisors. Through its no-code tools, intuitive client journeys, and seamless partner integrations and white labeling options, White Swan helps businesses serve their clients insurance online with modules to help them research, quote, and apply for insurance.

Media Contact:

PAPERCLIP
Megan Brandow
Director of Marketing
www.paperclip.com
(585) 727-0983
mbrandow@paperclip.com

WHITE SWAN
Pontus Lagerberg
Founder & CEO at White Swan
https://whiteswan.io
United States
pontus@whiteswan.io

The MIL Network –

March 27, 2025
MIL-OSI United Nations: Secretary-General’s remarks to the Informal Interactive Dialogue on the Implementation of the Pact for the Future [bilingual, as delivered; scroll down for all-English version]

Source: United Nations secretary general

Mr. President of the General Assembly, Excellencies, Ladies and Gentlemen,

I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months.

From day one of the Pact for the Future’s adoption, the President has been its active champion.

I deeply appreciate your efforts, Mr. President, and your leadership.

Excellencies,

Adopting the Pact was the beginning of the process, not the end.

Today I want to focus on what we have done over the last six months — and what we need to do.

We face a long list of challenges.

Conflicts and climate disasters are intensifying.

The Sustainable Development Goals are far off-track — as is the funding required to achieve them.

Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

But let me be very clear. It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever. And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come.

Resources are shrinking across the board — and they have been for a long time.

From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our organization.

Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment.

All these will contribute for a more effective implementation of the Pact for the Future.

Excellencies,

We’ve wasted no time moving into the implementation phase of the Pact.

From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas:

Sustainable Development Goals acceleration…peace and security… international financial architecture…digital technologies…UN governance…and youth.

We’ve created two task teams focusing on future generations and the need to look beyond GDP as a measure of progress and guide to policy-making.

And we’re establishing an internal tracking system to monitor our progress on Pact implementation.

Today, I’d like to report on our efforts since the Pact was adopted, and outline the work ahead in four areas.

First — peace and security.

United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world.

The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund.

We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.

And we’re progressing on a review of all forms of Peace Operations — as requested in the Pact.

Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

It will also recognize the limitations of our operations where there is little or no peace to keep.

We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

Second — finance for development.

Since the Pact’s adoption, we’ve taken action on several fronts.

For example, our Resident Coordinators and Country Teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

We’ve begun analyzing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September.

The Expert Group called for in the Pact to develop measures of progress that go beyond Gross Domestic Product will soon be announced, and will work throughout the year before an inter-governmental process takes over in 2026.

And we’ve been working closely with the World Bank and the IMF to follow-up on the Pact’s action points addressing improvements to the international financial system.

Developing countries must be represented fairly in the governance of the very institutions they depend on.

We know the environment is not favourable.

But we must not give up.

Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt.

In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

Debt relief is a central issue if we want the implementation and the Pact for the Future a reality.

At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, to make them bigger and bolder.

This includes both stretching their balance sheets and recapitalization.

And we must ensure that concessional finance is deployed where it is most needed.

Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

Three — youth and future generations

Our efforts must deliver for young people and the generations to come.

The Pact’s central promise to young people is to listen to their concerns and ideas, and including them at the decision-making table.

Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities.

With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

Through the Declaration on Future Generations, we’re also looking to the generations yet to be born.

We’ve established a Strategic Foresight Network and Community of Practice, to ensure our policies, programmes and field operations are based on long-term thinking.

And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

Quatrièmement : la technologie.

Nous mettons en œuvre les appels du Pacte mondial pour le numérique pour combler toutes les fractures numériques et veiller à ce que tout le monde puisse bénéficier d’un espace numérique sûr et sécurisé.

L’intelligence artificielle fait l’objet d’une attention particulière.

Nous élaborons un rapport sur les options novatrices de financement volontaire qui permettraient de renforcer les capacités en matière d’intelligence artificielle afin d’aider les pays du Sud à exploiter cette technologie au service de l’intérêt général – en tenant compte des recommandations formulées par mon Organe consultatif de haut niveau.

Un avant-projet de résolution visant à établir le Groupe scientifique international indépendant sur l’IA et à organiser un Dialogue mondial sur la gouvernance de l’IA a été distribué la semaine dernière – grâce au travail des co-facilitateurs, l’Espagne et le Costa Rica.

J’invite l’Assemblée générale à agir rapidement pour mettre sur pied ce Groupe et veiller à ce que le savoir-faire et les connaissances en matière d’IA soient mis à la disposition de tous les pays – tout en soutenant le Dialogue mondial.

L’ensemble du système de l’ONU se tient prêt à soutenir ces travaux.

Excellences,

Tout en défendant ces priorités, nous nous attelons par ailleurs à améliorer l’efficience et l’efficacité de nos opérations – comme l’exige le Pacte.

L’automne dernier, nous avons entrepris une évaluation complète dans l’ensemble des entités de l’ONU afin d’exploiter le potentiel de l’innovation, de l’analyse des données, de la transformation numérique et de la prospective dans l’ensemble de nos travaux – conformément à l’initiative ONU 2.0.

Les résultats sont déjà au rendez-vous : nous avons par exemple été capable de constater une accélération de l’évaluation des catastrophes dans la région Asie-Pacifique, un renforcement des programmes de sécurité sociale au Malawi, ou encore une consolidation des fonctions relatives à l’informatique dans l’ensemble du système des Nations Unies.

Ces efforts, où les données sont une question essentielle pour que nous puissions faire une bien meilleure gestion de ces données – ces efforts doivent se poursuivre, en particulier au regard des problèmes de financement auxquels nous devons faire face.

Nous comptons sur votre soutien pour mener ce travail à bien.

Excellences,

Alors que nous œuvrons pour remodeler le système multilatéral et ainsi relever les défis du monde d’aujourd’hui, le Pacte pour l’avenir est un rouage essentiel de ce processus de renouvellement constant.

Nous ne pouvons pas diluer nos efforts.

Gardons intact l’esprit et la détermination qui ont permis de forger et d’adopter le Pacte.

Nous comptons sur vous pour éclairer, inspirer et guider le travail de mise en œuvre à venir.

Une fois encore, merci pour vos idées et votre engagement.

***
[All-English]

Mr. President of the General Assembly, Excellencies, Ladies and Gentlemen,

I thank the President of the General Assembly for convening this important dialogue — the first of three in the coming months.

From day one of the Pact for the Future’s adoption, the President has been its active champion.

I deeply appreciate your efforts, Mr. President, and your leadership.

Excellencies,

Adopting the Pact was the beginning of the process, not the end.

Today I want to focus on what we have done over the last six months — and what we need to do.

We face a long list of challenges.

Conflicts and climate disasters are intensifying.

The Sustainable Development Goals are far off-track — as is the funding required to achieve them.

Geopolitical divisions and mistrust are blocking effective action, with some actively questioning the value of international cooperation and the multilateral system itself.

But let me be very clear. It is exactly because of these divides and these mistrusts that the Pact for the Future and the two parallel documents are more important than ever. And the bigger the obstacle, the bigger will be my determination to make things move forward in line with the will expressed by Member States in the Summit of the Future.

Meanwhile, critical funding is being drastically cut for people in desperate need — with more reductions to come.

Resources are shrinking across the board — and they have been for a long time.

From day one of my mandate, we embarked on an ambitious agenda to become more effective and cost-effective across our organization.

Earlier this month, I announced the “UN80” initiative to continue this work and intensify it.

We’re reviewing efficiencies and improvements to current arrangements, the implementation of mandates handed down by Member States, and structural changes and programme realignment.

All these will contribute for a more effective implementation of the Pact for the Future.

Excellencies,

We’ve wasted no time moving into the implementation phase of the Pact.

From an operational perspective, we established a principal-level steering committee — which I chair — overseeing six working groups focused on action and reforms in key areas:

Sustainable Development Goals acceleration…peace and security… international financial architecture…digital technologies…UN governance…and youth.

We’ve created two task teams focusing on future generations and the need to look beyond GDP as a measure of progress and guide to policy-making.

And we’re establishing an internal tracking system to monitor our progress on Pact implementation.

Today, I’d like to report on our efforts since the Pact was adopted, and outline the work ahead in four areas.

First — peace and security.

United Nations peace operations help safeguard people and communities in some of the most desperate corners of the world.

The Pact represents a commitment to strengthen tools to prevent and address conflict, to ensure that our peace efforts respond to new and emerging threats.

In November, I issued a report on peacebuilding which included concrete suggestions to strengthen the Peacebuilding Commission and Fund.

We’re actively working on the second independent progress study on the positive contribution of young people to peace processes.

And we’re progressing on a review of all forms of Peace Operations — as requested in the Pact.

Our recent proposals to the Security Council regarding Haiti are a case in point where new approaches can be developed to complex security challenges.

The review will be an opportunity to help adapt peace operations to today’s realities, and ensure they’re guided by clear and sequenced mandates that are realistic and achievable — with viable exit strategies and transition plans.

It will also recognize the limitations of our operations where there is little or no peace to keep.

We will also continue pushing forward on other peace-related priorities of the Pact — including disarmament commitments around nuclear, biological and chemical weapons, lethal autonomous weapons and the growing weaponization of outer space.

And we will continue advocating — including through the intergovernmental negotiations process — for the Pact’s call to make the Security Council more representative of today’s world and more effective in the capacity to promote peace in the world.

Second — finance for development.

Since the Pact’s adoption, we’ve taken action on several fronts.

For example, our Resident Coordinators and Country Teams are now mapping out how we can accelerate progress at the national levels in close cooperation with the Governments.

We’ve begun analyzing the impact of military expenditure on the achievement of the SDGs and on our own work at the UN — with a final report out by September.

The Expert Group called for in the Pact to develop measures of progress that go beyond Gross Domestic Product will soon be announced, and will work throughout the year before an inter-governmental process takes over in 2026.

And we’ve been working closely with the World Bank and the IMF to follow-up on the Pact’s action points addressing improvements to the international financial system.

Developing countries must be represented fairly in the governance of the very institutions they depend on.

We know the environment is not favourable.

But we must not give up.

Since the Pact’s adoption, I have also established an expert group to identify practical steps for action on debt.

In the coming weeks, they will propose a list of achievable outcomes — and release a full report in June in advance of the Financing for Development Conference in Spain.

Debt relief is a central issue if we want the implementation and the Pact for the Future a reality.

At the same time, we will continue advocating to increase the lending capacity of Multilateral Development Banks, to make them bigger and bolder.

This includes both stretching their balance sheets and recapitalization.

And we must ensure that concessional finance is deployed where it is most needed.

Many of these actions depend on decisions of other multilateral institutions and of Member States, but we will not relent in our constant advocacy for what the Pact for the Future has clearly indicated as the way to pursue.

Three — youth and future generations

Our efforts must deliver for young people and the generations to come.

The Pact’s central promise to young people is to listen to their concerns and ideas, and including them at the decision-making table.

Following the establishment of a UN Youth Office in 2022, young people played a key role in shaping the Pact’s priorities.

With the Pact’s adoption, we’re now progressing towards establishing a Youth Investment Platform to ensure that national funding mechanisms and investment platforms are focused on the needs of young people.

And we’re developing core principles to strengthen youth engagement across our work at the United Nations — including by broadening the representation of younger colleagues within our organizational structures.

Through the Declaration on Future Generations, we’re also looking to the generations yet to be born.

We’ve established a Strategic Foresight Network and Community of Practice, to ensure our policies, programmes and field operations are based on long-term thinking.

And later this year, I will appoint a Special Envoy for Future Generations to scale up these efforts.

Fourth — technology.

We’re implementing the Global Digital Compact’s calls to close all digital divides and ensure all people benefit from a safe and secure digital space.

Artificial Intelligence is a particular focus.

We’re developing a report on innovative voluntary financing options for AI capacity-building to help the Global South harness AI for the greater good, taking into account the recommendations of my High-Level Advisory Body.

The zero draft resolution to establish the International Independent Scientific Panel on AI and convene a Global Dialogue on AI Governance was also circulated last week — thanks to the work of the co-facilitators, Spain and Costa Rica.

I urge the General Assembly to act swiftly to establish this Panel, and ensure that AI expertise and knowledge are available to all countries, while supporting the Global Dialogue.

The UN system stands ready to support this work.

Excellencies,

As we push for these priorities, we’re also improving the efficiency and effectiveness of our operations, as called for by the Pact.

Last fall, we undertook a comprehensive assessment across UN entities to harness the potential of innovation, data analytics, digital transformation and foresight across our work — as called for in the UN 2.0 initiative.

We’re already seeing results: from speeding-up disaster assessments in the Asia-Pacific, to strengthening social security programmes in Malawi, to consolidating Information Technology functions across the UN System.

This work must continue — especially in light of the funding challenges we face.

We’re counting on your support as we move forward.

Excellencies,

The Pact for the Future is an essential part of this process of constant renewal, as we re-shape the multilateral system for the challenges of today’s world.

We cannot dilute our efforts.

We need to sustain the same spirit and determination in which the Pact was forged and adopted.

We count on you to inform, inspire and guide the implementation work ahead.

Once again, thank you for your ideas and commitment.

MIL OSI United Nations News –

March 27, 2025
MIL-OSI: LambdaTest’s Chandni Chopra Wins 2025 DE&I Leadership Award for Championing Inclusive Innovation
Source: GlobeNewswire (MIL-OSI)

Delhi/San Francisco, March 26, 2025 (GLOBE NEWSWIRE) — LambdaTest, a unified agentic AI and cloud engineering platform is proud to announce that Chandni Chopra, VP of People and Culture, has been honored with the DE&I in Tech Leadership Award at The RISING 2025, India’s biggest summit celebrating women in tech and AI, hosted by Analytics India Magazine. The award ceremony took place on March 21, 2025, in Bengaluru.

The RISING 2025 shines a spotlight on changemakers who are reimagining what inclusive leadership looks like. The DE&I in Tech Leadership Award recognizes individuals who champion equity, actively dismantle barriers and create opportunities for underrepresented communities in the tech ecosystem.

Over the past five years, Chandni Chopra has been the heart of LambdaTest’s culture journey—moving beyond traditional HR practices to build a workplace where inclusion shows up in daily behavior. She led the creation of Employee Resource Groups (ERGs) like The Phoenix Project for women, which provided mentorship opportunities, mental wellness support, and a safe space for honest dialogue. Through carefully curated self-care journals and mental health workshops, women across LambdaTest found new confidence and connection within their teams.

Chandni also spearheaded LambdaTest’s Diversity & Inclusion Learning Initiative—a comprehensive framework that introduced cultural sensitization workshops, policy reforms for accessibility, and a globally compliant DEI charter backed by a dedicated budget. These efforts have elevated LambdaTest’s workplace into one where equity is not aspirational—it’s operational.

“What began as a vision to create an inclusive, empowering environment has become the very foundation of LambdaTest’s culture,” said Chandni Chopra, VP of People and Culture, LambdaTest. “This award isn’t just a personal milestone—it’s a collective win for every voice that’s been amplified, every stereotype we’ve challenged, and every door we’ve opened for others to walk through.”

LambdaTest’s commitment to DE&I goes far beyond policy. As a company, it believes innovation thrives when everyone belongs. The company’s initiatives are embedded in its DNA—whether it’s inclusive hiring, equitable growth paths, or safe spaces for open conversations. The result is a workplace where authenticity is valued and diverse perspectives lead to transformative outcomes.

“At LambdaTest, we’ve always believed that building great products starts with building inclusive teams,” said Asad Khan, CEO and Founder of LambdaTest. “Chandni’s recognition is a testament to the culture we’re proud of—a place where people feel seen, heard, and empowered. This award is just the beginning.”

To learn more about The RISING 2025 and this year’s DE&I champions, click here.

About LambdaTest

LambdaTest is an AI-native, omnichannel software quality platform that empowers businesses to accelerate time to market through intelligent, cloud-based test authoring, orchestration, and execution. With over 15,000 customers and 2.3 million+ users across 130+ countries, LambdaTest is the trusted choice for modern software testing.
- Browser & App Testing Cloud: Enables manual and automated testing of web and mobile apps across 10,000+ browsers, real devices, and OS environments, ensuring cross-platform consistency.
- HyperExecute: An AI-native test execution and orchestration cloud that runs tests up to 70% faster than traditional grids, offering smart test distribution, automatic retries, real-time logs, and seamless CI/CD integration.
- KaneAI: The world’s first GenAI-native testing agent, leveraging LLMs for effortless test creation, intelligent automation, and self-evolving test execution. It integrates directly with Jira, Slack, GitHub, and other DevOps tools.
For more information, please visit, https://lambdatest.com

The MIL Network –
March 27, 2025

Category: Artificial Intelligence

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