Category: Artificial Intelligence

  • MIL-OSI Submissions: Environment – Invasive predators from the ocean: not only ships, but also many fish use the Panama Canal

    Source: Leibniz Institute of Freshwater Ecology and Inland Fisheries (IGB)

    The Panama Canal is a busy maritime route, with 14,000 ships passing through it every year. But this canal is also a potential pathway for the spread of non- native fishes from one ocean to another. 

    Researchers at the Leibniz Institute of Freshwater Ecology and Inland Fisheries (IGB), Freie Universität Berlin, Smithsonian Tropical Research Institute in Panama and Harvard University have now compared the fish communities of Lake Gatun in the Panama Canal aquatic corridor before and after the canal’s expansion in 2016. 

    Since the extensive structural changes to the canal’s lock system, significantly more marine fish species have entered the freshwater lake; they now make up 76 percent of the total biomass of the fish population and are primarily large predatory fishes. 

    As a result, the lake’s food web is changing and local fisheries are heavily impacted. There is also an increased risk that some species will pass through the canal and colonize the opposite ocean – with important ecological and evolutionary consequences.

    Maritime shipping is one of the most important introduction pathways for invasive species. Historically, species introductions through the Panama Canal have been relatively low, largely due to the existence of a soft barrier – the freshwater artificial Lake Gatun – inside the Canal. However, the 2016 expansion of the Panama Canal involved major structural changes to the canal’s lock system, which may have increased the likelihood that more marine fish species and greater numbers of them enter the lake and eventually cross the canal. This is because the new locks for the passage of mega-ships (called Neopanamax) are substantially larger than the old ones. So for every ship transit through the new locks, more freshwater flows into the sea, but also more seawater enters Lake Gatun – and therefore potentially more marine fishes.

    The research team compared the fish populations before (2013-2016) and after (2019-2023) the expansion of the canal. They used a unique long-term series of scientific standardized catch data on the number, biomass and spatial distribution of the fish community. “The Panama Canal has the potential to connect the marine biota of the Atlantic and Pacific Oceans, which have been separated for three million years. Before the canal’s expansion, this potential was relatively low. Now it looks that the permeability of the canal to interoceanic invasions is increasing after its expansion”, said Gustavo A. Castellanos-Galindo. He is one of the two lead authors of the study and a researcher at IGB, FU Berlin and the Smithsonian Tropical Research Institute.

    After the canal expansion: the proportion of marine fish species in total mass increased from 26 to 76 percent

    Since 2016, the composition of the fish community in Lake Gatun has significantly shifted from freshwater to marine fish species. Before the canal’s expansion, marine fishes made up only 26 percent of the total fish biomass; now they account for 76 percent. Of these species, 18 are originally from the Atlantic and five from the Pacific. Prior to 2016, around 57 percent of the biomass of the lake’s fish community consisted of non-native freshwater fishes, particularly the Peacock Bass (Cichla ocellaris var. monoculus) and the Nile Tilapia (Oreochromis niloticus), while native freshwater fishes made up 17 percent. After the expansion, native and non-native freshwater fish species make up only 11 and 13 percent of the total fish biomass, respectively.

    Large predatory fishes from the ocean change the food web and thus the fish stocks for local fisheries

    The researchers also looked at functional groups. These are groups of fish species that use environmental resources in a similar way. With this approach, the impact of the altered fish community on the ecosystem can be better assessed. The team found 15 new functional groups in the fish community of Lake Gatun following the canal’s expansion. The most representative group (by weight) are large pelagic predators, such as the Atlantic Tarpon (Megalops atlanticus). Conversely, eight groups from the pre-enlargement period are missing: they correspond mainly to native freshwater fish species, mostly small in size, that feed on detritus or are omnivores, for example Brycon petrosus. “The food web in Lake Gatun is being severely altered by the novel marine fish species. This has also important impacts on local fisheries”, said Prof. Jonathan Jeschke, co-author of the study and researcher at IGB and FU Berlin.

    Risk of interoceanic invasions

    The researchers also investigated the risk that these changes pose for possible interoceanic migrations. “The increase in marine organisms in this water corridor could represent a potential invasion in progress, increasing the likelihood that some species will pass through the canal and colonize the opposite ocean. Since most of these marine fish are apex predators with a broad niche range, their colonization of the Atlantic and Pacific is likely to alter ecological interactions and possibly lead to ecosystem-level changes”, said Gustavo A. Castellanos-Galindo.

    Publication:

    Gustavo A. Castellanos-Galindo, Diana M.T. Sharpe, D. Ross Robertson, Victor Bravo, Jonathan M. Jeschke, Mark E. Torchin, New fish migrations into the Panama Canal increase likelihood of interoceanic invasions in the Americas, Current Biology, 2025, ISSN 0960-9822, https://doi.org/10.1016/j.cub.2025.01.049

    Gustavo A. Castellanos-Galindo, IGB: https://www.igb-berlin.de/en/profile/gustavo-castellanos-galindo

    About the Leibniz Institute of Freshwater Ecology and Inland Fisheries (IGB):

    IGB is Germany’s largest and one of the leading international centres for freshwater research. It is also one of the oldest institutions in this field. The roots of the predecessor institutions can be traced back to the end of the 19th century. Today, science at IGB covers a wide range of disciplines – from hydrology, physics, geography, ecology and evolution to socio-ecology, from molecular biology to the study of entire ecosystems and catchments, and from microbial ecology to fish behaviour. 

    Our findings and methods provide an excellent basis to train young scientists and to promote an open knowledge exchange with society. Thus, we contribute to coping with ecological and societal challenges, such as the adaptation to global change, the conservation of aquatic biodiversity and the sustainable use and management of inland waters. https://www.igb-berlin.de/en/

    IGB Newsroom: https://www.igb-berlin.de/en/newsroom

    IGB Newsletter: https://www.igb-berlin.de/en/newsletter

    IGB at Bluesky: @leibnizigb.bsky.social 

    MIL OSI – Submitted News

  • MIL-OSI New Zealand: Business Appointments – Raine & Horne beefs up executive team in New Zealand with the appointment of James Shepherd

    Source: Raine & Horne

    Highlights

    • Raine & Horne appoints James Shepherd as Supervision and Compliance Manager for New Zealand, bringing almost 16 years of industry experience to support the super brand’s rapid expansion.
    • Mr Shepherd is excited about the company’s growth in New Zealand and is eager to unlock further potential and streamline processes for improved sales and compliance.
    • Looking ahead for 2025, Mr Shepherd predicts steady market conditions across New Zealand, offering opportunities for savvy buyers and vendors, particularly for downsizing.

    Christchurch, NZ (25 February 2025) One of Australasia’s fastest-growing real estate networks Raine & Horne has scored a major executive coup with Mr James Shepherd’s appointment as Supervision and Compliance Manager for New Zealand.

    Mr Shepherd, who began his real estate career in 2009 after transitioning from the machinery and construction sector, has almost 16 years of experience working with two major real estate networks.

    Besides his compliance role, Mr Shepherd will also assume general management responsibilities for the rapidly growing brand. Raine & Horne has quickly grown its footprint in New Zealand, with over 70 offices since launching in April 2023.

    Mr Angus Raine, Executive Chairman of Raine & Horne, is thrilled to welcome Mr Shepherd to the team. He believes his extensive background in office ownership, management, and sales will be invaluable.

    “James is a major asset for our business as we expand across New Zealand. He has a strong background in office ownership and management, sales management, and a wealth of recent sales experience in the Christchurch region,” said Mr Raine.

    “With his extensive background, he will be responsible for supporting our existing offices and sales agents and helping to grow the office network. His role will, of course, also strongly focus on our compliance framework.”

    Amplifying rapid growth for Raine & Horne’s offices, sales agents and brand

    Mr Shepherd said he is excited to join Raine & Horne at this point in its growth curve in New Zealand.

    “The impressive growth the brand has experienced over the past 18 months, particularly after the acquisitions in 2024, shows a strong upward trajectory,” he said.

    “Our new offices want to grow their businesses and are embracing Raine & Horne’s systems and processes, and there’s massive potential for them to expand. I’m excited that I’ll be helping them to unlock this potential.”

    Mr Shepherd noted that one exciting opportunity for real estate businesses in New Zealand is the chance to streamline administrative processes and navigate complex regulations more efficiently.

    “With my deep understanding of compliance issues, I’m confident I can help streamline the process and free up salespeople to focus on what matters – selling their vendor’s properties.”

    Having worked with two of New Zealand’s major real estate brands, Mr Shepherd is excited to be part of a company pushing beyond the status quo.

    “Raine & Horne’s unique edge is our advanced technology, and I am eager to drive awareness of our ecosystem of technology firsts throughout New Zealand, particularly the first-to-market AI-powered social media marketing platform, Amplify.”

    Mr Shepherd also sees tremendous potential for Raine & Horne’s rural real estate division in New Zealand, drawing from his extensive rural background in farming before his stint in construction.

    “New Zealand has a deep connection to rural life, so I see excellent opportunities for Raine & Horne Rural in New Zealand,” he said.

    Steady market conditions expected in 2025

    Looking ahead to the remainder of 2025, Mr Shepherd believes vendors and buyers can expect a steady year. “While there are still some economic challenges to navigate, I expect the residential property market to remain steady and gradually build momentum.

    “It won’t be a year for price surges, but this also means 2025 will be an excellent year for those ready to make moves,” he adds.  

    “If you’ve got your finances in order, 2025 could be the year to jump in, while conditions remain stable.”

    Mr Shepherd also sees a strong opportunity for those considering a move. Despite increased stock levels, the highest seen in a decade, he envisages the potential for better prices in 2025 than the past couple of years.

    Finally, Mr Shepherd is excited about the future with Raine & Horne, saying, “I’m thrilled about the opportunities ahead. I’m eager to dive in, visit the offices, meet the teams, and help build the future of this exciting business.”

    MIL OSI New Zealand News

  • MIL-OSI USA: SBA Administrator Loeffler Issues Memo on Day One Priorities

    Source: United States Small Business Administration

    WASHINGTON — Following her confirmation and swearing-in as the 28th Administrator of the U.S. Small Business Administration, Kelly Loeffler issued a Day One memo outlining her top priorities for the agency.

    “Small businesses are the backbone of our nation, driving innovation, job creation, and prosperity – and there’s no stronger advocate for small business than President Trump or myself. But over the last four years, the SBA has burdened entrepreneurs with bureaucracy – with its programs becoming mired in fraud, waste, and abuse,” SBA Administrator Loeffler said. “That changes today. My first priority is rebuilding the SBA into an America First engine for free enterprise – by empowering small businesses and fueling economic growth.

    “From day one, we will uphold the highest standards of accountability, performance, and integrity, where taxpayer dollars will be safeguarded, not squandered. We will streamline operations, drive efficiency, and ensure programs deliver real results. It’s a new day at the SBA, and I’m honored to lead a team that is committed to serving America’s job creators and citizens when disaster strikes.”

    The following priorities have been distributed to all SBA staff as the agency prepares to carry out President Trump’s America First agenda and empower small businesses to thrive:

    Supporting President Trump’s America First Agenda

    1. Promoting “Made in America” with U.S. manufacturing: The vast majority of America’s manufacturers are small businesses, and SBA programs have powered tens of thousands of them. This agency is committed to supporting the America First agenda by rebuilding American supply chains and investing in manufacturing to strengthen our economy and national security. The agency will transform its Office of International Trade into the Office of Manufacturing and Trade – which will focus on promoting economic independence, job creation, and fair trade practices to power the next blue-collar boom. SBA will also partner across agencies to scale innovative manufacturing and technology startups that will help our nation return to “Made in America.”
    2. Implementing President Trump’s executive orders: SBA will enforce all of President Trump’s executive orders including Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government, Ending Radical and Wasteful Government DEI Programs and Preferencing and Unleashing American Energy. To date, SBA has already taken the following actions:
      • Eliminated the Office of Diversity, Equity, Inclusion, and Accessibility, placing DEIA employees on administrative leave.
      • Paused grants across the agency that do not comply with President Trump’s executive orders.
      • Paused the Green Lender Initiative to reverse the previous Administration’s favoritism for Green New Deal ventures that did not support America’s return to energy dominance.
    3. Supporting the Department of Government Efficiency: SBA will continue working closely with President Trump’s DOGE as the federal government moves into a new era of accountability, transparency, and efficiency. SBA will prioritize eliminating fraud and waste within the agency, to ensure American taxpayer dollars are utilized in the most productive way possible to benefit small businesses and economic growth and resilience.
    4. Mandating full-time, in-office work for SBA employees: Pursuant to President Trump’s Return to In-Person Work presidential memorandum, SBA will require all employees, unless exempt, to return to their respective duty stations five days a week as of today, Monday, Feb. 24, 2025.
    5. Prioritizing workforce optimization: As part of the broader effort to support President Trump’s workforce optimization initiatives, SBA will continue to evaluate workforce reduction measures, including the overhaul of all advisory boards, to ensure the agency is operating with maximum efficiency to deliver results for U.S. taxpayers, small businesses, and those affected by disaster.
    6. Cracking down on fraud: SBA’s loan programs should be a powerful tool for empowering small business formation and delivering critical aid to disaster victims. The prior Administration left these programs with unaddressed fraud – including an estimated $200 billion in pandemic-era fraud. Starting today, the SBA will institute a zero-tolerance policy for fraud and investigate fraud across all programs. The agency has established a Fraud Working Group and will appoint a Fraud Czar to identify, stop, and claw back criminally obtained funds on behalf of American taxpayers – working across agencies to prevent fraud.

    Eliminating Wasteful Spending and Cracking Down on Fraud

    1. Conducting an agency-wide financial audit: As fraud has risen, so too have delinquencies, defaults, and charge-offs on loan programs, exacerbated by the previous Administration’s lax loan underwriting, servicing, and collection efforts. As a result, SBA has not satisfactorily completed a financial audit for several consecutive years. Therefore, the agency will request an independent audit of its financials to address mismanagement, restore the credibility of financial statements, and preserve the solvency of public-private programs like the 7(a) lending program and the Small Business Investment Company program, which are designed to drive economic growth without taxpayer subsidy.
    2. Protecting the solvency of loan programs and restoring underwriting standards: Likewise, SBA will review all options to protect the solvency of its lending programs, including revising practices that have jeopardized the zero-subsidy status of programs like 7(a). The agency will also restart its dormant collections programs effective immediately. Furthermore, SBA will restore its underwriting standards, ensuring taxpayer dollars only go to supporting eligible small businesses across America – by conducting a full review of current lending SOPs, ending the “Do What You Do” standard for lending, and enhancing oversight of non-bank lenders.
    3. Banning illegal aliens from receiving SBA assistance: Programs funded by American citizens should only benefit American citizens. Consistent with President Trump’s Ending Taxpayer Subsidization of Open Borders executive order, the agency will implement a policy banning illegal aliens from receiving any taxpayer-funded assistance from SBA – putting U.S. citizens and America first.
    4. Restricting hostile foreign nationals from accessing SBA assistance: Similarly, in the interest of national security, the agency will implement measures to prevent hostile foreign nationals, especially those with ties to the Chinese Communist Party, from accessing SBA assistance.

    Empowering Small Businesses

    1. Creating a strike force to cut regulation: For the first time in years, SBA will fully staff and empower the Office of Advocacy to utilize its power to identify and eliminate burdensome regulations promulgated by all federal agencies, as authorized by the Regulatory Flexibility Act, Small Business Regulatory Enforcement Fairness Act of 1996, the Congressional Review Act, and other statutes. The Administrator will work alongside the Chief Counsel for Advocacy to cut past and future regulations across the board and partner with all federal agencies to ensure they are working to reduce bureaucracy and costs for job creators and promote successful business formation.
    2. Improving SBA customer service, technology, and cybersecurity: Respecting that small businesses must perform for their customers, the SBA must meet performance standards across our own operations. Working with DOGE, the SBA will review the agency’s multiple digital interfaces. To streamline and improve user experience across all platforms, the agency will also review its technology for cybersecurity, response times, and customer satisfaction – including by collaborating with the White House on the application of artificial intelligence.
    3. Promoting fair competition by returning 8(a) contracting goals to statutory levels: The previous Administration increased the 8(a) federal contracting goal for Small Disadvantaged Businesses to an all-time high of 15%. This action unfairly tipped the scales against any small business that did not qualify as “disadvantaged,” negatively impacting many veteran-owned small businesses. As part of a broader effort to support competition and equal access to federal contracting for all small business owners, SBA has returned the 8(a) SDB contracting goal to its statutory level of 5%.
    4. Relocating regional offices out of sanctuary cities: To better serve Main Streets across America, especially in rural areas, SBA will relocate regional offices currently based in sanctuary cities to less costly, more accessible locations in communities that comply with federal immigration law. Additionally, Administrator Loeffler commits to personally visiting SBA’s regional offices and district offices – to facilitate a continuous dialogue with small business owners and hear directly from local job creators about real-world challenges and opportunities to support growth and innovation.
    5. Ending partisan voter registration activities: The SBA will end all taxpayer-funded voter registration activities – starting by rescinding the agency’s 2024 Memorandum of Understanding with the Michigan Secretary of State’s office, which forced SBA district offices to conduct partisan voter registration on behalf of the previous Administration. Instead, the agency will return its focus to its founding mission of empowering job creators, delivering disaster relief, and driving economic growth.

    # # #

     

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News

  • MIL-OSI Economics: African Development Bank and global public development banks to convene in Cape Town to advance climate resilience

    Source: African Development Bank Group

    WHAT:            Finance in Common Summit 2025

    WHEN:           February 26-28, 2025

    WHERE:         Cape Town, South Africa

    WHO:             The African Development Bank; senior leaders of 530 public development banks                                   representing 155 countries; global development and finance leaders

    The Fifth Finance in Common Summit (FiCS), co-hosted by the Development Bank of Southern Africa (DBSA) and the Asian Infrastructure Investment Bank (AIIB) with the support of Agence Française de Développement (AFD), will take place this year in Cape Town, South Africa from 26-28 February. The African Development Bank is a sponsor for the event.

    The African Development Bank President Dr Akinwumi Adesina will lead a delegation to the summit which has the theme, Fostering Infrastructure and Finance for Fair and Sustainable Growth. The theme aligns with the objectives of South Africa’s presidency of the G20: Solidarity, Equity, Sustainability.

    Dubbed a “Summit of Solutions,” the event will bring together institutions that manage US$23 trillion in assets (10% of global investments) to address critical infrastructure needs in climate-vulnerable regions and advance financial innovation and sustainable development, focusing on Africa and developing Asian nations. It will focus on three critical pillars: inclusive finance to reduce inequality, digital transformation to bridge technological gaps, and climate-resilient infrastructure development, all aimed at creating a more equitable and sustainable world.

    The African Development Bank delegation also includes Solomon Quaynor, Vice President for Private Sector, Infrastructure & Industrialization; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Hassatou Diop N’Sele, Vice President for Finance and Chief Financial Officer; Leila Farah Mokaddem, Director General for Southern Africa and Moono Mupotola, Deputy Director General for Southern Africa, who will be speaking at sessions across the three days.

    The Finance in Common Summit, launched in 2020, represents the world’s largest gathering of public development banks.

    To request media interviews with members of the Bank’s delegation, please email the contact below.

    Click here to register for the event and more information.

    Join the conversation: #FiCS2025 #SustainableFinance

    MIL OSI Economics

  • MIL-OSI USA: Sen. Billy Hickman to Celebrate Georgia Reads Day at State Capitol

    Source: US State of Georgia

    ATLANTA (February 24, 2025) — On Tuesday, February 25, at 12:00 p.m., Sen. Billy Hickman (R–Statesboro) will celebrate Georgia Reads Day with the Georgia Council on Literacy. Sen. Hickman will be joined by Georgia Reads Coach Malcolm Mitchell, Rep. Chris Erwin (R–Homer) and leadership from the Georgia Council on Literacy. The 2025 Georgia READBowl champions and the Georgia Reads Community Award winners will be recognized during the event.

    EVENT DETAILS:                      

    • Date: Tuesday, February 25, 2025
    • Time: 12:00 p.m.
    • Where: Georgia State Capitol, North Steps, 206 Washington St., Atlanta, GA 30334
    • This Event is Open to the Public.

    MEDIA OPPORTUNITIES:

    We kindly request that members of the media confirm their attendance in advance by contacting Jantz Womack at SenatePressInquiries@senate.ga.gov.

    More information on Georgia Reads can be found here.

    # # # #

    Sen. Billy Hickman serves as Chairman of the Senate Committee on Education and Youth. He represents the 4th Senate District which includes Bulloch, Candler, Effingham, and Evans County as well as a small portion of Chatham County. He may be reached at 404.463.1371 or by email at billy.hickman@senate.ga.gov

    MIL OSI USA News

  • MIL-OSI USA: Murphy, Blumenthal, Colleagues Urge Secretary Rubio To Restore Critical Global Health Programs To Keep Americans Safe

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Foreign Relations Committee, and Richard Blumenthal (D-Conn.) joined 19 of their Senate colleagues in sending a letter to U.S. Secretary of State Marco Rubio urging him to restore funding for global health, development, and humanitarian programs. In the wake of the Trump administration’s abrupt termination of key foreign assistance programs and personnel without review, the senators highlight the national security imperatives of U.S. global health efforts, which keep Americans safe, strengthen U.S. leadership, and increase global stability.

    “The Trump Administration’s freeze on foreign assistance and opaque waiver process, coupled with the attempted dismantling of the U.S. Agency for International Development (USAID) has significantly weakened our ability to respond to emergencies, left gaps in disease surveillance, and undermined global partnerships— leaving a vacuum that our adversaries are eager to fill,” the senators wrote.  

    Without American global health programs, current outbreaks of infectious diseases like Ebola, Marburg Virus, and Bird Flu have the potential for spreading to U.S. soil. According to the Centers for Disease Control and Prevention (CDC), an infectious disease can spread from a remote village to a major city in the United States in as little as 36 hours. Additionally, the foreign assistance funding freeze has stopped critical Malaria interventions before peak transmission and paused many clinical trials and data collection endeavors that require continuous data collection. As a result, product development for desperately needed drugs and vaccines have been brought to a halt. 

    “The U.S. cannot afford to withdraw from the global stage. Weak health systems in already fragile regions create opportunities for infectious disease to spread unchecked, for extremist groups to gain influence, and for adversaries to expand their reach,” they continued.

    The senators warned Secretary Rubio that Russian leaders have publicly praised the decision to dismantle USAID, an agency that helps counter China’s efforts to expand its Belt and Road Initiative in Africa and Latin America. Additionally, China is already stepping in to fill the vacuum left by the United States at the World Health Organization.  

    “We urge you to reverse the damaging personnel actions at USAID, and swiftly restart U.S. investments in global health, development, and humanitarian aid—not just as a moral obligation, but as part of the necessary strategy to protect America’s national security. In the meantime, there must be a clear process to achieve and implement waivers for these critical programs… Restoring these investments and the professional staff with training and skillsets to implement these life-saving programs will strengthen global health security, reinforce our leadership on the world stage, and make us safer at home,” the senators concluded.

    U.S. Senators Cory Booker (D-N.J.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), Chris Coons (D-Del.), Martin Heinrich (D-N.M.), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Patty Murray (D-Wash.), Alex Padilla (D-Calif.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Hawaii), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below:

    Dear Secretary Rubio,

    At a time when the world faces increasing instability—from disease outbreaks, to violent conflicts, to economic crises—U.S. investments in global health, development, and humanitarian aid are more than acts of goodwill; they are strategic imperatives contributing to our strength, security, and prosperity. Without strong and sustained U.S. leadership, American lives and economic stability is at risk.

    The Trump Administration’s freeze on foreign assistance and opaque waiver process, coupled with the attempted dismantling of the U.S. Agency for International Development (USAID) has significantly weakened our ability to respond to emergencies, left gaps in disease surveillance, and undermined global partnerships— leaving a vacuum that our adversaries are eager to fill.

    The freeze on global health activities is particularly troubling. There is resounding evidence that global health programs protect Americans. Recent history has shown that infectious disease outbreaks in distant regions can quickly reach U.S. soil, causing devastation to lives and livelihoods. According to the Centers for Disease Control and Prevention, a disease can spread from a remote village to a major city– including in the United States– in as little 36 hours. Such deadly diseases continue to emerge in countries which need assistance to respond. Consider the following examples:

    1. Ebola: Uganda is currently experiencing a deadly outbreak of Sudan Ebola virus in its capital city of Kampala, with a population of 1.9 million people. Suspected cases have also been reported in the Democratic Republic of the Congo. USAID and the Centers for Disease Control and Prevention (CDC) global health programs are critical to helping countries control and manage these outbreaks. The 2014-2016 West African Ebola outbreak spread beyond the region, with cases reaching the U.S. and Europe. American led investments in global health systems helped contain the crisis, prevented further transmission and strengthened global preparedness. Just within the last four years, USAID and CDC frontline health responders played critical roles in halting 11 similar outbreaks, but we are unaware of any USAID personnel having been deployed to Kampala to specifically respond to the outbreak. The Trump Administration’s retreat from these investments has left the world—and the U.S.—more vulnerable to future outbreaks.
    2. Marburg Virus: Tanzania recently confirmed an outbreak of Marburg virus—an illness as deadly as Ebola, but with less treatment and vaccine options. This deadly outbreak has highlighted the urgent need for disease surveillance and rapid response. The U.S. has long been a leader in these efforts, but the freeze on USAID has hindered our ability to detect and contain these threats before they become global crises.
    3. Malaria: While malaria may seem like a distant problem, it deeply affects regions where the U.S. has significant interests. The next few weeks, just before peak transmission, are critical for malaria prevention campaigns. Malaria is preventable, but if this particular window is missed, lives will be lost, most of whom will likely be children. The President’s Malaria Initiative (PMI) has reduced cases and deaths worldwide, fostering healthier, more productive societies and reducing the risk of political instability and migration crises. The halt in U.S. funding threatens decades of progress. According to Malaria No More, halting PMI programs for 90 days would prevent the delivery of approximately: 9 million insecticide-treated bed nets; 25.3 million rapid diagnostic tests for malaria; 15.6 million life-saving antimalarial treatments; 48 million doses of seasonal malaria chemoprevention; and safe, effective indoor residual spraying for 3.8 million people.
    4. Bird Flu: Bird flu has already caused one death in the U.S. and is currently circulating throughout America’s livestock. With the foreign aid freeze, the monitoring of bird flu effectively ends in 49 countries, leaving the U.S. in the dark regarding a pressing threat should the virus evolve or mutate to start spreading more rapidly among humans.
    5. PEPFAR: Though the waiver for certain PEPFAR activities is slowly being implemented, critical prevention services remain paused. Without access to pre-exposure prophylaxis (PrEP) and other prevention services, HIV transmission will increase, risking an upsurge of the disease across partner countries and undermining the more than $100 billion in U.S. investment contributed toward the HIV response to date.

    In addition, the foreign assistance funding freeze has paused many clinical trials and data collection endeavors that require continuous data collection. This will significantly delay the product development timelines for desperately needed drugs and vaccines. Clinical trials are now hanging on by a thread and will have to shut down soon if the pause is not lifted. This risks the health of the trial participants around the world and the lives in the U.S. and globally that could be saved thanks to the results of these trials. Furthermore, U.S. global health programs that treat, monitor, and prevent the spread of HIV/AIDS, Tuberculosis, Polio, and other infectious diseases are all vital to saving lives and keeping Americans safe.

    The U.S. cannot afford to withdraw from the global stage. Weak health systems in already fragile regions create opportunities for infectious disease to spread unchecked, for extremist groups to gain influence, and for adversaries to expand their reach. Already, Russian leaders have publicly applauded the decision to dismantle USAID, an agency that is also uniquely positioned to forestall China’s expansion of its Belt and Road Initiative in Africa and Latin America. China is already trying to fill the vacuum left by the United States at the World Health Organization when President Trump issued his intent to withdraw. Investing in foreign assistance, including global health and development programs, strengthens our alliances, promotes stability, and reduces the need for costly emergency interventions and military engagements.

    We urge you to reverse the damaging personnel actions at USAID, and swiftly restart U.S. investments in global health, development, and humanitarian aid—not just as a moral obligation, but as part of the necessary strategy to protect America’s national security. In the meantime, there must be a clear process to achieve and implement waivers for these critical programs. Nearly all USAID staff and critical implementing partners have been eliminated and payment systems are not functioning for the vast majority of implementers, rendering the waiver process irrelevant. Restoring these investments and the professional staff with training and skillsets to implement these life-saving programs will strengthen global health security, reinforce our leadership on the world stage, and make us safer at home. Sincerely,

    MIL OSI USA News

  • MIL-OSI: Xtract One Announces Fiscal 2025 Second Quarter Conference Call

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”), a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced that it will release fiscal 2025 second quarter results after the close of trading on March 12, 2025. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will host a webcast and conference call at 10:00 a.m. Eastern Time the following day, March 13, 2025, to review the three months ended January 31, 2025.

    The webcast and presentation will be accessible on the company’s website, and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers). Management will provide an overview of the interim financial results along with management’s outlook for the business, followed by a question-and-answer period.

    About Xtract One Technologies
    Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn

    About Threat Detection and Security Solutions
    Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today’s world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.

    For further information, please contact:
    Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com    
    Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
    Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com

    The MIL Network

  • MIL-OSI: POPcodes Wins ETA’s Most Innovative Solution for 2025

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 24, 2025 (GLOBE NEWSWIRE) — POPcodes, Inc. (POPcodes), a leading provider of value-added, B2B and B2C solutions for payment providers, is honored to receive the Most Innovative Product or Solution Award from the Electronic Transactions Association (ETA). POPcodes will receive the award during the Visa Celebration & ETA Star Awards on April 2, 2025, at TRANSACT, the premier annual event for the payments industry.

    The Most Innovative Product or Solution Award recognizes companies that deliver exceptional increases in usability, reduced friction, increased profitability, or drive advancements for the payments ecosystem. POPcodes’ Direct-to-MerchantTM (D2M) Communication Platform embodies all those criteria, transforming how payment solution providers (PSPs) and their enterprise and SMB merchant customers connect, communicate, and engage.

    D2M accelerates activations, reduces training and support costs, and drives increased adoption of value-added service by enabling instant, campaign-based, and self-serve messaging with graphical, omnichannel workflows delivered in the merchants’ preferred language directly to the in-person point of purchase.

    POPcodes’ unique cloud/app-based hybrid platform gives PSPs unprecedented simplicity, flexibility, control, and effectiveness when meeting their B2B communication and process automation needs — delivering a better merchant experience while meeting the payment ecosystem’s rigorous security and stability demands.

    POPcodes’ clients include two of the top five global payment processors. These processors use D2M to solve multiple business-critical challenges, including delivering a better first experience for new merchants, accelerating new device and application rollouts, reducing training support and costs, and guiding merchants through PCI and AML/KYC compliance. Most importantly, POPcodes drive merchant referrals and increase value-added service sales. By leveraging the D2M platform’s features and POPcodes’ expertise, the solution has proven value to the PSP’s portfolio growth, profitability, and retention goals.

    CEO Gregg Aamoth explained, “We’re dedicated to revolutionizing the payments industry by helping PSPs around the world deliver seamless, secure, and user-friendly workflows that empower merchants and enhance their experience, while optimizing PSPs’ business, partnerships, and shareholder value.”

    “This recognition is an honor and testament to our team’s hard work. We look forward to expanding our mission of innovation and excellence around the globe, ultimately connecting all players in the multi-trillion dollar retail and payments value chains,” Aamoth said.

    The award is the latest for POPcodes’ D2M platform. The company was runner-up in the ETA’s Most Innovation Solution category in 2024 and also received awards and recognitions at Money 20/20 and the SouthEast, NorthEast, and Western States Acquirers Association conferences.

    POPcodes congratulates all nominees and winners in this year’s ETA Awards for their accomplishments and dedication to advancing payment innovation.

    About POPcodes

    POPcodes’ cloud-based platform, white-labeled apps, and AI-enabled content, workflow, and campaign management services transform the rapidly expanding network of smart, in-person payment devices into an exclusive, owned digital media channel with secure, bi-directional messaging and omnichannel workflows that help globally recognized brands meet their B2B, B2B2B, B2C, and B2B2C obligations and goals.

    Learn more at popcodes.com

    Contact
    Kristi Hamilton
    (904) 718-8972
    Kristi@Skyrocketgroup.com

    The MIL Network

  • MIL-OSI: Alaris Equity Partners Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION IN THE UNITED STATES.
    FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

    CALGARY, Alberta, Feb. 24, 2025 (GLOBE NEWSWIRE) — (all numbers in this release are in US dollars (US$) unless otherwise noted) Alaris Equity Partners Income Trust (the “Trust“) (TSX: AD.UN) is pleased to announce that its subsidiary, Alaris Equity Partners USA Inc. (collectively, with the Trust and its other subsidiaries, “Alaris“) has made an investment of $21.0 million into Berg Demo Holdings, LLC (“Berg“) (the “Berg Investment”) and $61.1 million into Professional Electric Contractors of Connecticut, Inc. (“PEC“) (the “PEC Investment“). Alaris is also pleased to announce the redemption of Alaris’ investment in Unify Consulting LLC (“Unify“), which closed in December, and resulted in gross proceeds of $12.3 million to Alaris (the “Unify Redemption“).

    “A productive start to 2025 with the closing of two new partnerships and the successful exit of another. Berg and PEC both signify the forming of partnerships with very strong entrepreneurs. David Berg and Jim Bisson from Berg and PEC respectively are exactly what we look for in partners. Long track records of success and a strong passion to continue to grow their businesses. Both partners have the capacity and desire to grow through acquisitions in addition to continued organic growth.

    I’d like to thank Darren Alger and his team at Unify for a wonderful eight years as our partner. Alaris originally funded a management buyout for Darren and we are proud of how well he has done as majority owner. Crystallizing another investment with an IRR of 20% is also an excellent result for our management team,” said Steve King, Chief Executive Officer, Alaris.

    Berg Investment

    The Berg Investment consists of: (i) $17.15 million (the “Berg Preferred Contribution“) of preferred equity, entitling Alaris to an initial annualized distribution of $2.40 million (the “Berg Distribution“); and (ii) $3.85 million (the “Berg Common Equity“) for a minority common equity ownership in Berg. The Berg Distribution will reset annually based on the percentage change in gross profit, subject to a collar of +/- 7%.

    Berg has an earnings coverage ratio between 1.5x and 2.0x based on Berg’s trailing twelve-month financial results and giving effect to certain other changes to Berg’s capital structure. The Berg Investment will be used for capital investment and to provide partial liquidity to equity holders.

    “We are thrilled to partner with Alaris, a partnership that strengthens our leadership team’s ability to drive future growth. As a third-generation demolition, scrap, and hazardous materials company, Berg has built a legacy of excellence. With Alaris’s strategic support and expertise, we are confident that Berg will continue to thrive as an industry leader for generations to come,” said David Berg, Founder, Berg.

    Berg is a leading demolition solutions provider serving public, commercial and industrial end markets in the Baltimore and DC, Maryland & Virginia (“DMV”) metropolitan area in the United States. Founded in 1998 by David Berg and headquartered in Baltimore, MD, Berg has become the preeminent hazardous material abatement, selective structural and building razing operation in the region.

    PEC Investment

    The PEC Investment of $61.1 million consists of a $37.0 million investment in debt and preferred equity (the “PEC Contribution“) as well as an investment of $24.1 million in exchange for a minority common equity ownership in PEC (the “PEC Common Equity“). Included within the $37.0 million PEC Contribution is $10.0 million of preferred equity redeemable at par. The PEC Contribution will result in an annualized cash distribution to Alaris of $5.18 million (the “PEC Distribution“), an initial combined annual yield of 14% and will reset annually +/- 7% based on changes in PEC’s revenue. The proceeds from the PEC Investment were used for partial liquidity to existing PEC shareholders.

    PEC has an earnings coverage ratio between 1.5x and 2.0x, based on PEC’s trailing twelve-month financial results and giving effect to changes to PEC’s capital structure following the Alaris investment.

    “When we first met Alaris, we liked their people and their unique model immediately; Alaris’ combination of financial strength and M&A acumen will allow us to focus on growth, while their approach recognizes our desire to protect and preserve PEC’s culture, which has always been a competitive advantage and our defining attribute,” said Jim Bisson, Jr., President and Chief Executive Officer, PEC.

    PEC is a full-service electrical contracting firm with a broad range of capabilities ranging from commercial installations, historical structural retrofits and large scale Photovoltaic (PV) projects. In addition, through its subsidiary North American Renewables, Inc, PEC is a leading solar engineering, procurement and construction (“EPC”) contractor. PEC serves the Greater New England and New York area.

    Unify Redemption

    Alaris successfully exited its partnership with Unify after eight years resulting in total gross proceeds over the life of the investment of CAD$51.6 million. Alaris’ total return on the Unify investment is CAD$38.6 million, equating to an unlevered IRR of 20% and MOIC of 1.9x.

    Following the Berg and PEC Investment, and the Unify Redemption, Alaris will have approximately CA$412.9 million drawn on its senior credit facility (the “Facility“) and $87.1 million available for investment purposes while the total senior debt to EBITDA on a proforma basis is approximately 2.43x. Alaris estimates its run rate payout ratio to be approximately 57.6% following today’s announcement.

    About Alaris:

    The Trust, through its subsidiaries, invests in a diversified group of private businesses (“Private Company Partners“) primarily through structured equity. The primary goal of our structured equity investments is to deliver stable and predictable returns to our unitholders through both cash distributions and capital appreciation. This strategy is enhanced by common equity positions, which allow us to generate returns in alignment with the founders of our Private Company Partners.

    NON-IFRS MEASURES:

    Earnings Coverage Ratio refers to the Normalized EBITDA of a Partner divided by such Partner’s sum of debt servicing (interest and principal), unfunded capital expenditures and distributions to Alaris. Management believes the earnings coverage ratio is a useful metric in assessing our partners continued ability to make their contracted distributions.

    Normalized EBITDA refers to EBITDA excluding items that are non-recurring in nature and is calculated by adjusting for non-recurring expenses and gains to EBITDA. Management deems non-recurring charges to be unusual and/or infrequent charges that our Partners incur outside of its common day-to-day operations.

    EBITDA refers to earnings determined in accordance with IFRS, before depreciation and amortization, net of gain or loss on disposal of capital assets, interest expense and income tax expense. EBITDA is used by management and many investors to determine the ability of an issuer to generate cash from operations.

    IRR is a supplementary financial measure and refers to internal rate of return, which is a metric used to determine the discount rate that derives a net present value of cash flows to zero. Management uses IRR to analyze partner returns. The Trust’s method of calculating this supplementary financial measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures by other issuers.

    MOIC is a supplementary financial measure and refers to multiple of capital invested, which is a financial metric used to evaluate the value of an investment relative to the initial capital. Management uses MOIC to analyze partner returns. The Trust’s method of calculating this supplementary financial measure may differ from the methods used by other issuers. Therefore, it may not be comparable to similar measures by other issuers.

    The terms Earnings Coverage Ratio, Normalized EBITDA, EBITDA, IRR and MOIC (the “Non-IFRS Measures“) are not standard measures under IFRS. Alaris’ calculation of the Non-IFRS Measures may differ from those of other issuers and, therefore, should only be used in conjunction with the Trust’s annual audited and unaudited interim financial statements, which are available under the Trust’s (and its predecessor’s) profile on SEDAR+ at www.sedarplus.ca.

    FORWARD LOOKING STATEMENTS

    This news release contains forward-looking statements, including forward-looking statements within the meaning of “safe harbor” provisions under applicable securities laws (“forward-looking statements”). Statements other than statements of historical fact contained in this news release may be forward-looking statements, including, without limitation, management’s expectations, intentions and beliefs concerning the Berg and PEC Investments and the Unify redemption. Many of these statements can be identified by words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words or the negative thereof. Forward looking statements in this news release include, without limitation, statements regarding: the annualized distributions for the Berg and PEC Investments; the earnings coverage ratios for Berg and PEC; and Alaris’ outstanding indebtedness and use of the balance of the Facility. Any forward-looking statements herein which constitute a financial outlook or future-oriented financial information (including the impact on Run Rate Payout Ratio) were approved by management as of the date hereof and have been included to provide an understanding of Alaris’ financial performance and are subject to the same risks and assumptions disclosed herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.

    By their nature, forward-looking statements require Alaris to make assumptions and are subject to inherent risks and uncertainties. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect Alaris’ business and that of its Partners are material factors considered by Alaris management when setting the outlook for Alaris. Key assumptions include, but are not limited to, assumptions that: interest rates will not rise in a matter materially different from the prevailing market expectations over the next 12 to 24 months; no widespread global health crisis will impact the economy or any Partners’ operations in a material way in the next 12 months; the businesses of the majority of our Partners will continue to grow; the businesses of new Partners and those of existing partners will perform in line with Alaris’ expectations and diligence; more private companies will require access to alternative sources of capital and that Alaris will have the ability to raise required equity and/or debt financing on acceptable terms. Management of Alaris has also assumed that the Canadian and U.S. dollar trading pair will remain in a range of approximately plus or minus 15% of the current rate expectations over the next 6 months. In determining expectations for economic growth, management of Alaris primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies as well as prevailing economic conditions at the time of such determinations.

    Forward-looking statements are subject to risks, uncertainties and assumptions and should not be read as guarantees or assurances of future performance. The actual results of the Trust and the Partners could materially differ from those anticipated in the forward-looking statements contained herein as a result of certain risk factors, including, but not limited to: the ability of our Partners and, correspondingly, Alaris to meet performance expectations for 2025 and beyond; any change in the senior lenders’ outlook for Alaris’ business; management’s ability to assess and mitigate the impacts of any local, regional, national or international health crises like COVID-19 or its variants; the dependence of Alaris on the Partners; reliance on key personnel; general economic conditions in Canada, North America and globally; failure to complete or realize the anticipated benefit of Alaris’ financing arrangements with the Partners; a failure of the Trust or any Partners to obtain required regulatory approvals on a timely basis or at all; changes in legislation and regulations and the interpretations thereof; risks relating to the Partners and their businesses, including, without limitation, a material change in the operations of a Partner or the industries they operate in; inability to close additional Partner contributions in a timely fashion, or at all; a change in the ability of the Partners to continue to pay Alaris’ distributions; a material change in the unaudited information provided to Alaris by the Partners; a failure of a Partner (or Partners) to realize on their anticipated growth strategies; a failure to achieve the expected benefits of the third-party asset management strategy or similar new investment structures and strategies; conflicts of interest that may arise under the asset management strategy or otherwise; a failure to achieve resolutions for outstanding issues with Partners on terms materially in line with management’s expectations or at all; and a failure to realize the benefits of any concessions or relief measures provided by Alaris to any Partner or to successfully execute an exit strategy for a Partner where desired. Additional risks that may cause actual results to vary from those indicated are discussed under the heading “Risk Factors” and “Forward Looking Statements” in the Trust’s Management Discussion and Analysis for the year ended December 31, 2023, which is filed under the Trust’s profile at www.sedar.com and on its website at www.alarisequitypartners.com.

    This news release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about increases to the Trust’s net operating cash from activities and revenues, each of which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI and forward-looking statements. Alaris’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and FOFI, or if any of them do so, what benefits the Trust will derive therefrom. The Trust has included the forward-looking statements and FOFI in order to provide readers with a more complete perspective on Alaris’ future operations and such information may not be appropriate for other purposes. Alaris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Readers are cautioned not to place undue reliance on any forward-looking information contained in this news release as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Statements containing forward-looking information reflect management’s current beliefs and assumptions based on information in its possession on the date of this news release. Although management believes that the assumptions reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations will prove to be correct.

    The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date of this news release and Alaris does not undertake or assume any obligation to update or revise such statements to reflect new events or circumstances except as expressly required by applicable securities legislation.

    Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

    For further information please contact:

    ir@alarisequity.com
    P: (403) 260-1457
    Alaris Equity Partners Income Trust
    Suite 250, 333 24th Avenue S.W.
    Calgary, Alberta T2S 3E6

    www.alarisequitypartners.com

    The MIL Network

  • MIL-OSI Global: U.S. cuts to HIV/AIDS funding will be detrimental for vulnerable groups in Kenya

    Source: The Conversation – Canada – By Toby Le, PhD Candidate in Medical Microbiology, University of Manitoba

    On his first day in office, U.S. President Donald Trump signed an executive order to freeze foreign aid funding. This was followed by a stop-work order for dozens of life-saving humanitarian programs.

    One of the programs affected by this announcement is the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR). This program has invested more than US$100 billion in the global HIV/AIDS response since it was founded in 2003. This makes the U.S. the largest funder of HIV/AIDS programs worldwide.

    Although a 90-day waiver has since been issued which temporarily allows life-saving HIV drugs to continue being delivered, the impact of this executive order is already being felt across the globe — including in Africa, where PEPFAR funding has been integral in controlling the HIV/AIDS epidemic.

    If PEPFAR funding ends when the waiver expires — or resumes but doesn’t allow funding for services to all key populations — this will have severe impacts on those in the continent living with HIV or at high-risk of infection.

    HIV/ AIDS research

    For 45 years, the University of Manitoba has been part of an important initiative in Nairobi, Kenya — partnering with the Sex Worker Outreach Program (SWOP and local agency Partners for Health and Development in Africa (PHDA) to develop effective strategies against HIV that can be employed in the region and communities worldwide. The approach, developed in 1985 by Elizabeth Ngugi, a public health nurse, and Francis Plummer, a University of Manitoba researcher, has empowered the community to share knowledge and to advocate for their rights. It has been vital in reducing HIV prevalence.

    This partnership between the University of Manitoba and SWOP has been funded by PEPFAR since 2003. It receives an average of US$1.5 million annually to deliver reproductive health, tuberculosis, sexually transmitted infection and HIV services to key populations. Currently, this funding allows the program to operate nine clinics in Kenya, which annually provide services to over 40,000 female sex workers, 12,000 men who have sex with men and 1,400 transgender people.

    The program offers safe spaces and tailors services to address the specific needs of each group and reduces health-care barriers. Our research team assessed gaps and refined approaches so that this partnership could serve the most vulnerable — transforming engagement with key groups.

    Groundbreaking research findings have also emerged because of this partnership. University of Manitoba research conducted with the SWOP community was among the first to show that STIs increase the risk of HIV infection, that breastfeeding heightens the risk of transmitting HIV to babies, that male circumcision helps prevent HIV and that some people exposed to HIV have a natural immunity to the virus.

    These findings have informed global prevention strategies and highlight the partnership’s significant impact.

    Critical funding

    If PEPFAR funding does indeed end in April once the temporary waiver expires, it would have a serious impact on the HIV/AIDS programs being delivered not only in Kenya but around the globe.

    SWOP clinics have been instrumental in curbing HIV infections among sex workers. HIV prevalence among female sex workers accessing SWOP clinics declined from 44 per cent in 2008 to 12 per cent in 2017. This 67 per cent reduction can be attributed to an increase in HIV testing, community education and STI treatment. The program also highlighted the prevalence of HPV anal lesions in men who have sex with men and the importance of early detection. The cessation of PEPFAR funding will jeopardize STI and HIV services.

    After much advocating, the SWOP clinics servicing female sex workers were able to resume some of their activities last week (Feb. 12, 2025). However, the waiver specified that PEPFAR-funded HIV care and treatment services could only be offered to certain groups. This meant we were unable to resume HIV prevention services for all key groups.

    Without a strong contingency plan, the abrupt end to PEPFAR funding will have devastating consequences. It would mean an immediate end to SWOP activities. This would mean no more HIV testing, preventive treatment and anti-retroviral therapy — which would increase the risk of transmission, leading to an increase in cases and even a greater number of deaths in people living with HIV.

    Key groups accessing SWOP are among the most marginalized in Kenya. Without access to dedicated clinics, the majority will avoid seeking care due to fear of stigma, discrimination and harassment in clinics designed for the general public.

    SWOP partners with local agencies to provide empowerment, legal support and counselling. Closing these clinics could leave the communities they serve more vulnerable to violence, exploitation and human rights abuse.

    On the research front, funding cuts would mean ongoing projects would be halted and new ones couldn’t be started. Three already-funded University of Manitoba studies are planned to start this year. These aim to further investigate the impact of HIV on women living in the region and understand how women’s health can be improved not only in Kenya but worldwide.

    But without SWOP’s infrastructure (such as their clinics and outreach team) we won’t be able to start these new studies. Furthermore, the implementation of research-based programs that aim to prevent HPV-related cancers would be stopped.

    Cuts to HIV/AIDS funding could threaten the 40 years of work that has gone into ending the AIDS epidemic — potentially putting the lives of millions of people at risk.

    The PEPFAR program has saved over 25 million lives since its beginning in 2003. Ending the PEPFAR program would have serious impacts on services for key populations and the LGBTQ+ communities. If the funding does end after the waiver expires in April, it will be necessary for Canada’s provincial and federal governments to step in and become leaders in global health and the fight against HIV.

    Toby Le receives funding from CIHR and Research Manitoba.

    Julie Lajoie receives funding from Grand Challenge Canada, Canadian Institute of Health Research, CANFAR and MMSF (Manitoba Medical Service Fundation).

    Keith Fowke receives funding from CIHR and the Bill and Melinda Gates Foundation.

    ref. U.S. cuts to HIV/AIDS funding will be detrimental for vulnerable groups in Kenya – https://theconversation.com/u-s-cuts-to-hiv-aids-funding-will-be-detrimental-for-vulnerable-groups-in-kenya-250001

    MIL OSI – Global Reports

  • MIL-OSI: Zoom Communications Reports Fourth Quarter and Fiscal Year 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth quarter total revenue of $1,184.1 million, up 3.3% year over year as reported and 3.6% in constant currency; full fiscal year total revenue of $4,665.4 million, up 3.1% year over year as reported and 3.3% in constant currency
    • Fourth quarter Enterprise revenue of $706.8 million, up 5.9% year over year; full fiscal year Enterprise revenue of $2,754.2 million, up 5.2% year over year
    • Fourth quarter operating cash flow of $424.6 million, up 20.9% year over year; full fiscal year operating cash flow of $1,945.3 million, up 21.7% year over year; full fiscal year operating cash flow margin of 41.7%
    • Fourth quarter GAAP operating margin of 19.0%, up 430 bps year over year, and non-GAAP operating margin of 39.5%, up 80 bps year over year; full fiscal year GAAP operating margin of 17.4%, up 580 bps year over year, and non-GAAP operating margin of 39.4%, up 20 bps year over year
    • Number of customers contributing more than $100,000 in trailing 12 months revenue up 7.3% year over year
    • Repurchased approximately 4.3 million shares of common stock in fourth quarter and approximately 15.9 million shares of common stock during full fiscal year

    SAN JOSE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) — Zoom Communications, Inc. (NASDAQ: ZM), an AI-first work platform for human connection, today announced financial results for the fourth quarter and fiscal year ended January 31, 2025.

    “In FY25, Zoom AI Companion emerged as the driving force behind our transformation into an AI-first company, enabling our customers to discover enhanced productivity opportunities. As Zoom AI Companion becomes increasingly agentic, we look forward to continuing to help our customers fully realize the benefits of AI and discover what’s possible with AI agents,” said Eric S. Yuan, Zoom’s founder and CEO. “Both Contact Center and Workvivo had incredible years capped by excellent Q4s in terms of strategic logo wins, upmarket momentum and broader customer growth. As we rapidly innovated for our customers, we delivered a robust 5.8-point expansion in FY25 GAAP operating margin driven by increased focus on prioritizing investments and controlling share-based compensation, and grew FY25 operating cash flow 21.7% year over year to nearly $2 billion, representing an operating cash flow margin of 41.7%.”

    Fourth Quarter Fiscal Year 2025 Financial Highlights:

    • Revenue: Total revenue for the fourth quarter was $1,184.1 million, up 3.3% year over year. After adjusting for foreign currency impact, revenue in constant currency was $1,188.0 million, up 3.6% year over year. Enterprise revenue was $706.8 million, up 5.9% year over year, and Online revenue was $477.3 million, down 0.4% year over year.
    • Income from Operations and Operating Margin: GAAP income from operations for the fourth quarter was $225.1 million, compared to GAAP income from operations of $168.5 million in the fourth quarter of fiscal year 2024. Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, and acquisition-related expenses, was $468.0 million for the fourth quarter, compared to non-GAAP income from operations of $443.7 million in the fourth quarter of fiscal year 2024. For the fourth quarter, GAAP and non-GAAP operating margin was 19.0% and 39.5%, respectively, up from 14.7% and 38.7%, respectively, in the fourth quarter of fiscal year 2024.
    • Net Income and Diluted Net Income Per Share: GAAP net income for the fourth quarter was $367.9 million, or $1.16 per share, compared to GAAP net income of $298.8 million, or $0.95 per share in the fourth quarter of fiscal year 2024.

      Non-GAAP net income, which adjusts for stock-based compensation expense and related payroll taxes, gains on strategic investments, net, acquisition-related expenses, and the tax effects on non-GAAP adjustments, was $446.9 million for the fourth quarter. Non-GAAP net income per share was $1.41 in the fourth quarter. In the fourth quarter of fiscal year 2024, non-GAAP net income was $444.0 million, or $1.42 per share.

    • Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of January 31, 2025 was $7.8 billion.
    • Cash Flow: Net cash provided by operating activities was $424.6 million for the fourth quarter, compared to $351.2 million in the fourth quarter of fiscal year 2024, up 20.9% year over year. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $416.2 million in the fourth quarter, compared to $332.7 million in the fourth quarter of fiscal year 2024, up 25.1% year over year.

    Full Fiscal Year 2025 Financial Highlights:

    • Revenue: Total revenue for the fiscal year was $4,665.4 million, up 3.1% year over year. After adjusting for foreign currency impact, revenue in constant currency was $4,675.0 million, up 3.3% year over year. Enterprise revenue was $2,754.2 million, up 5.2% year over year, and Online revenue was $1,911.2 million, up 0.2% year over year.
    • Income from Operations and Operating Margin: GAAP income from operations for the fiscal year was $813.3 million, compared to GAAP income from operations of $525.3 million for fiscal year 2024. Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, litigation settlements, net, and acquisition-related expenses, was $1,837.9 million for the fiscal year, compared to non-GAAP income from operations of $1,774.9 million for fiscal year 2024. For the fiscal year, GAAP and non-GAAP operating margin was 17.4% and 39.4% respectively, up from 11.6% and 39.2%, respectively, in the fourth quarter of fiscal year 2024.
    • Net Income and Diluted Net Income Per Share: GAAP net income for the fiscal year was $1,010.2 million, or $3.21 per share, compared to GAAP net income of $637.5 million, or $2.07 per share for fiscal year 2024.

      Non-GAAP net income, which adjusts for stock-based compensation expense and related payroll taxes, litigation settlements, net, gains on strategic investments, net, acquisition-related expenses, and the tax effects on non-GAAP adjustments, was $1,744.8 million for the fiscal year. Non-GAAP net income per share was $5.54. In fiscal year 2024, non-GAAP net income was $1,608.0 million, or $5.21 per share.

    • Cash Flow: Net cash provided by operating activities was $1,945.3 million for the fiscal year, compared to $1,598.8 million for fiscal year 2024 up 21.7% year over year. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $1,808.7 million, compared to $1,471.9 million for fiscal year 2024, up 22.9% year over year.

    Customer Metrics: Drivers of revenue included acquiring new customers and expanding across existing customers. At the end of the fourth quarter of fiscal year 2025, Zoom had:

    • Approximately 192,600 Enterprise customers.
    • A trailing 12-month net dollar expansion rate for Enterprise customers of 98%.
    • 4,088 customers contributing more than $100,000 in trailing 12 months revenue, up approximately 7.3% from the same quarter last fiscal year.
    • Online average monthly churn of 2.8% for the fourth quarter, down 20 bps from the same quarter last fiscal year.
    • At the end of the fourth quarter, the percentage of total Online MRR from Online customers with a continual term of service of at least 16 months was 75.1%, up 90 bps year over year.

    As Zoom continues to expand and evolve, we have seen an increasing overlap between our Enterprise and Online customer categories. Over time, customers with lower MRR are expected to move from Enterprise to Online as we optimize our sales strategies. While these moves do not have a material impact on other customer metrics, the number of customers between these two groups has become less meaningful as a customer metric. Therefore, beginning in the first quarter of fiscal year 2026, we will no longer report the number of Enterprise customers as a customer metric. However, we will continue to provide this metric in the appendix of our investor deck through the end of fiscal year 2026, which will be accessible on our investor relations website (investors.zoom.us).

    Financial Outlook: Zoom is providing the following guidance for its first quarter of fiscal year 2026 and its full fiscal year 2026.

    • First Quarter Fiscal Year 2026: Total revenue is expected to be between $1.162 billion and $1.167 billion and revenue in constant currency is expected to be between $1.168 billion and $1.173 billion. Non-GAAP income from operations is expected to be between $440.0 million and $445.0 million. First quarter non-GAAP diluted EPS is expected to be between $1.29 and $1.31 with approximately 316 million non-GAAP weighted average shares outstanding.
    • Full Fiscal Year 2026: Total revenue is expected to be between $4.785 billion and $4.795 billion and revenue in constant currency is expected to be between $4.803 billion and $4.813 billion. Non-GAAP income from operations is expected to be between $1.850 billion and $1.860 billion. Full fiscal year non-GAAP diluted EPS is expected to be between $5.34 and $5.37 with approximately 318 million non-GAAP weighted average shares outstanding. Full fiscal year free cash flow is expected to be between $1.680 billion and $1.720 billion.

    The EPS and share count figures do not include any impact from $1.6 billion of authorized share repurchase remaining as of January 31, 2025.

    Additional information on Zoom’s reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future, although it is important to note that these factors could be material to Zoom’s results computed in accordance with GAAP.

    A supplemental financial presentation and other information can be accessed through Zoom’s investor relations website at investors.zoom.us.

    Zoom Video Earnings Call

    Zoom will host a Zoom Video Webinar for investors on February 24, 2025 at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the company’s financial results, business highlights and financial outlook. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.us/ 

    About Zoom

    Zoom’s mission is to provide an AI-first platform for human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com.

    Forward-Looking Statements

    This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Zoom’s financial outlook for the first quarter of fiscal year 2026 and full fiscal year 2026, Zoom’s market position, opportunities, and growth strategy, product initiatives, including future product and feature releases and the potential of agentic AI, and go-to-market motions and the expected benefits resulting from the same, market trends, and Zoom’s stock repurchase program. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: declines in new customers, renewals or upgrades, or decline in demand for our platform, difficulties in evaluating our prospects and future results of operations given our limited operating history, competition from other providers of communications platforms, the effect of macroeconomic conditions on our business, including tariffs and trade tensions, inflationary pressures and market volatility, lengthened sales cycles with large organizations, delays or outages in services from our co-located data centers, failures in internet infrastructure or interference with broadband access, compromised security measures, including ours and those of the third parties upon which we rely, and global security concerns and their potential impact on regional and global economies and supply chains. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our quarterly report on Form 10-Q for the fiscal quarter ended October 31, 2024. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    Non-GAAP Financial Measures

    Zoom has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Zoom uses these non-GAAP financial measures internally in analyzing its financial results and believes that use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing Zoom’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.

    Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with Zoom’s condensed consolidated financial statements prepared in accordance with GAAP. A reconciliation of Zoom’s historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.

    Non-GAAP Income from Operations and Non-GAAP Operating Margin. Zoom defines non-GAAP income from operations as income from operations excluding stock-based compensation expense and related payroll taxes, acquisition-related expenses, restructuring expenses, and litigation settlements, net. Zoom excludes stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding Zoom’s operational performance and allows investors the ability to make more meaningful comparisons between Zoom’s operating results and those of other companies. Zoom excludes the amount of employer payroll taxes related to employee stock plans, which is a cash expense, in order for investors to see the full effect that excluding stock-based compensation expense had on Zoom’s operating results. In particular, this expense is dependent on the price of our common stock and other factors that are beyond our control and do not correlate to the operation of the business. Zoom views acquisition-related expenses when applicable, such as amortization of acquired intangible assets, transaction costs, and acquisition-related retention payments that are directly related to business combinations as events that are not necessarily reflective of operational performance during a period. Restructuring expenses are expenses associated with a formal restructuring plan and may include employee notice period costs, severance payments, and other related expenses. Zoom excludes these restructuring expenses because they are distinct from ongoing operational costs and Zoom does not believe they are reflective of current and expected future business performance and operating results. Zoom excludes significant litigation settlements, net of amounts covered by insurance, that we deem not to be in the ordinary course of our business. In fact, Zoom believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods that may or may not include such expenses and assist in the comparison with the results of other companies in the industry. Zoom defines non-GAAP operating margin as non-GAAP income from operations divided by GAAP revenue.

    Non-GAAP Net Income and Non-GAAP Net Income Per Share, Basic and Diluted. Zoom defines non-GAAP net income as GAAP net income adjusted to exclude stock-based compensation expense and related payroll taxes, acquisition-related expenses, restructuring expenses, gains on strategic investments, net, litigation settlements, net, income tax benefits from discrete activities, and the tax effects of all non-GAAP adjustments. Zoom excludes these items because they are considered by management to be outside of Zoom’s core operating results. These adjustments are intended to provide investors and management with greater visibility to the underlying performance of Zoom’s business operations, facilitate comparison of its results with other periods, and may also facilitate comparison with the results of other companies in the industry. Zoom defines non-GAAP net income per share, basic and diluted, as non-GAAP net income divided by the number of shares outstanding, basic and diluted, calculated in accordance with GAAP.

    Free Cash Flow and Free Cash Flow Margin. Zoom defines free cash flow as GAAP net cash provided by operating activities less purchases of property and equipment. Zoom considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Zoom defines free cash flow margin as free cash flow divided by GAAP revenue.

    Revenue in Constant Currency. Zoom defines revenue in constant currency as GAAP revenue adjusted for revenue reported in currencies other than United States dollars as if they were converted into United States dollars using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods. Zoom provides revenue in constant currency information as a framework for assessing how Zoom’s underlying businesses performed period to period, excluding the effects of foreign currency fluctuations.

    Customer Metrics

    Zoom defines a customer as a separate and distinct buying entity, which can be a single paid user or an organization of any size (including a distinct unit of an organization) that has multiple users. Zoom defines Enterprise customers as distinct business units that have been engaged by either our direct sales team, resellers, or strategic partners. All other customers that subscribe to our services directly through our website are referred to as Online customers.

    Zoom calculates net dollar expansion rate as of a period end by starting with the annual recurring revenue (“ARR”) from Enterprise customers as of 12 months prior (“Prior Period ARR”). Zoom defines ARR as the annualized revenue run rate of subscription agreements from all customers at a point in time. Zoom calculates ARR by taking the monthly recurring revenue (“MRR”) and multiplying it by 12. MRR is defined as the recurring revenue run-rate of subscription agreements from all Enterprise customers for the last month of the period, including revenue from monthly subscribers who have not provided any indication that they intend to cancel their subscriptions. Zoom then calculates the ARR from these Enterprise customers as of the current period end (“Current Period ARR”), which includes any upsells, contraction, and attrition. Zoom divides the Current Period ARR by the Prior Period ARR to arrive at the net dollar expansion rate. For the trailing 12 months calculation, Zoom takes an average of the net dollar expansion rate over the trailing 12 months.

    Zoom calculates online average monthly churn by starting with the Online customer MRR as of the beginning of the applicable quarter (“Entry MRR”). Zoom defines Entry MRR as the recurring revenue run-rate of subscription agreements from all Online customers except for subscriptions that Zoom recorded as churn in a previous quarter based on the customers’ earlier indication to us of their intention to cancel that subscription. Zoom then determines the MRR related to customers who canceled or downgraded their subscription or notified us of that intention during the applicable quarter (“Applicable Quarter MRR Churn”) and divides the Applicable Quarter MRR Churn by the applicable quarter Entry MRR to arrive at the MRR churn rate for Online Customers for the applicable quarter. Zoom then divides that amount by three to calculate the online average monthly churn.

    Public Relations

    Colleen Rodriguez
    Head of Global Public Relations
    press@zoom.us 

    Investor Relations

    Charles Eveslage
    Head of Investor Relations
    investors@zoom.us 

    Zoom Communications, Inc.
    Consolidated Balance Sheets
    (In thousands)

        As of January 31,
          2025     2024
    Assets   (unaudited)    
    Current assets:        
    Cash and cash equivalents   $ 1,349,380   $ 1,558,252
    Marketable securities     6,442,329     5,404,233
    Accounts receivable, net     495,228     536,078
    Deferred contract acquisition costs, current     188,358     208,474
    Prepaid expenses and other current assets     200,679     219,182
    Total current assets     8,675,974     7,926,219
    Deferred contract acquisition costs, noncurrent     123,464     138,724
    Property and equipment, net     330,475     293,704
    Operating lease right-of-use assets     55,900     58,975
    Strategic investments     591,481     409,222
    Goodwill     307,295     307,295
    Deferred tax assets     749,759     662,177
    Other assets, noncurrent     154,073     133,477
    Total assets   $ 10,988,421   $ 9,929,793
    Liabilities and stockholders’ equity        
    Current liabilities:        
    Accounts payable   $ 8,345   $ 10,175
    Accrued expenses and other current liabilities     558,562     500,164
    Deferred revenue, current     1,336,387     1,251,848
    Total current liabilities     1,903,294     1,762,187
    Deferred revenue, noncurrent     17,274     18,514
    Operating lease liabilities, noncurrent     37,406     48,308
    Other liabilities, noncurrent     95,363     81,378
    Total liabilities     2,053,337     1,910,387
             
    Stockholders’ equity:        
    Common stock     305     307
    Additional paid-in capital     5,130,271     5,228,756
    Accumulated other comprehensive income     4,990     1,063
    Retained earnings     3,799,518     2,789,280
    Total stockholders’ equity     8,935,084     8,019,406
    Total liabilities and stockholders’ equity   $ 10,988,421   $ 9,929,793
                 

    Note: The amount of unbilled accounts receivable included within accounts receivable, net on the consolidated balance sheets was $118.5 million and $124.8 million as of January 31, 2025 and 2024, respectively.

    Zoom Communications, Inc.
    Consolidated Statements of Operations
    (Unaudited, in thousands, except share and per share amounts)

        Three Months Ended January 31,   Year Ended January 31,
          2025     2024     2025     2024
    Revenue   $ 1,184,138   $ 1,146,457   $ 4,665,433   $ 4,527,224
    Cost of revenue     287,355     276,307     1,129,627     1,077,801
    Gross profit     896,783     870,150     3,535,806     3,449,423
    Operating expenses:                
    Research and development     217,121     205,282     852,415     803,187
    Sales and marketing     358,903     371,052     1,427,384     1,541,307
    General and administrative     95,696     125,286     442,712     579,650
    Total operating expenses     671,720     701,620     2,722,511     2,924,144
    Income from operations     225,063     168,530     813,295     525,279
    Gains on strategic investments, net     150,357     101,296     177,142     109,770
    Other income, net     74,899     83,057     325,147     197,263
    Income before provision for income taxes     450,319     352,883     1,315,584     832,312
    Provision for income taxes     82,454     54,051     305,346     194,850
    Net income     367,865     298,832     1,010,238     637,462
                     
    Net income per share:                
    Basic   $ 1.20   $ 0.98   $ 3.28   $ 2.12
    Diluted   $ 1.16   $ 0.95   $ 3.21   $ 2.07
    Weighted-average shares used in computing net income per share:                
    Basic     306,553,952     305,822,936     307,981,971     300,748,162
    Diluted     316,693,346     313,467,303     315,069,582     308,519,897
                             

    Zoom Communications, Inc.
    Consolidated Statements of Cash Flows
    (Unaudited, in thousands)

        Three Months Ended January 31,   Year Ended January 31,
          2025       2024       2025       2024  
    Cash flows from operating activities:                
    Net income   $ 367,865     $ 298,832     $ 1,010,238     $ 637,462  
    Adjustments to reconcile net income to net cash provided by operating activities:                
    Stock-based compensation expense     222,939       254,373       931,309       1,057,161  
    Deferred income taxes     (18,416 )     (136,735 )     (90,551 )     (116,679 )
    Amortization of deferred contract acquisition costs     71,063       66,793       282,103       270,701  
    Gains on strategic investments, net     (150,357 )     (101,296 )     (177,142 )     (109,770 )
    Depreciation and amortization     34,591       27,272       122,632       104,451  
    Provision for accounts receivable allowances     2,983       6,182       20,022       35,244  
    Unrealized foreign exchange losses (gains)     12,364       (11,022 )     17,165       12,259  
    Non-cash operating lease cost     6,205       5,225       24,066       21,066  
    Amortization of discount/premium on marketable securities     (16,871 )     (17,463 )     (71,636 )     (50,770 )
    Other     630       (2,419 )     4,048       (7,670 )
    Changes in operating assets and liabilities:                
    Accounts receivable     (47,632 )     (18,723 )     26,640       53,270  
    Prepaid expenses and other assets     (11,360 )     53,208       (17,114 )     (71,247 )
    Deferred contract acquisition costs     (79,932 )     (68,303 )     (246,727 )     (214,657 )
    Accounts payable     (1,686 )     (2,158 )     (3,133 )     (4,416 )
    Accrued expenses and other liabilities     65,245       51,989       62,277       51,974  
    Deferred revenue     (26,253 )     (48,637 )     79,995       (46,719 )
    Operating lease liabilities, net     (6,812 )     (5,893 )     (28,884 )     (22,824 )
    Net cash provided by operating activities     424,566       351,225       1,945,308       1,598,836  
    Cash flows from investing activities:                
    Purchases of marketable securities     (919,938 )     (1,120,371 )     (4,622,104 )     (4,083,968 )
    Maturities of marketable securities     919,856       773,341       3,610,274       3,131,419  
    Sales of marketable securities           1,191       47,482       1,191  
    Purchases of property and equipment     (8,334 )     (18,540 )     (136,560 )     (126,953 )
    Purchases of strategic investments     (5,000 )     (17,727 )     (18,500 )     (70,527 )
    Proceeds from strategic investments     8,530       62,823       13,384       170,067  
    Cash paid for acquisition, net of cash acquired                       (204,918 )
    Net cash used in investing activities     (4,886 )     (319,283 )     (1,106,024 )     (1,183,689 )
    Cash flows from financing activities:                
    Cash paid for repurchases of common stock     (354,567 )           (1,093,878 )      
    Proceeds from issuance of common stock for employee stock purchase plan     19,745       21,584       54,008       54,097  
    Proceeds from exercise of stock options     867       1,859       4,619       10,195  
    Proceeds from employee equity transactions to be remitted (remitted) to employees and tax authorities, net     4,984       791       7,174       (4,106 )
    Net cash (used in) provided by financing activities     (328,971 )     24,234       (1,028,077 )     60,186  
    Effect of exchange rate changes on cash, cash equivalents, and restricted cash     (12,150 )     11,077       (15,170 )     (10,196 )
    Net increase (decrease) in cash, cash equivalents, and restricted cash     78,559       67,253       (203,963 )     465,137  
    Cash, cash equivalents, and restricted cash—beginning of year     1,282,858       1,498,127       1,565,380       1,100,243  
    Cash, cash equivalents, and restricted cash—end of year   $ 1,361,417     $ 1,565,380     $ 1,361,417     $ 1,565,380  
                                     

    Zoom Communications, Inc.
    Reconciliation of GAAP to Non-GAAP Measures
    (Unaudited, in thousands, except share and per share amounts)

        Three Months Ended January 31,   Year Ended January 31,
          2025       2024       2025       2024  
    GAAP income from operations   $ 225,063     $ 168,530     $ 813,295     $ 525,279  
    Add:                
    Stock-based compensation expense and related payroll taxes     232,983       262,754       966,732       1,076,212  
    Litigation settlements, net                 16,250       52,500  
    Acquisition-related expenses     9,916       12,465       41,618       47,904  
    Restructuring expenses                       72,993  
    Non-GAAP income from operations   $ 467,962     $ 443,749     $ 1,837,895     $ 1,774,888  
    GAAP operating margin     19.0 %     14.7 %     17.4 %     11.6 %
    Non-GAAP operating margin     39.5 %     38.7 %     39.4 %     39.2 %
                     
    GAAP net income   $ 367,865     $ 298,832     $ 1,010,238     $ 637,462  
    Add:                
    Stock-based compensation expense and related payroll taxes     232,983       262,754       966,732       1,076,212  
    Litigation settlements, net                 16,250       52,500  
    Gains on strategic investments, net     (150,357 )     (101,296 )     (177,142 )     (109,770 )
    Acquisition-related expenses     9,916       12,465       41,618       47,904  
    Restructuring expenses                       72,993  
    Income tax benefits from discrete activities           (8,272 )           (8,272 )
    Tax effects on non-GAAP adjustments     (13,461 )     (20,512 )     (112,945 )     (161,006 )
    Non-GAAP net income   $ 446,946     $ 443,971     $ 1,744,751     $ 1,608,023  
                     
    Net income per share – basic and diluted:                
    GAAP net income per share – basic   $ 1.20     $ 0.98     $ 3.28     $ 2.12  
    Non-GAAP net income per share – basic   $ 1.46     $ 1.45     $ 5.67     $ 5.35  
    GAAP net income per share – diluted   $ 1.16     $ 0.95     $ 3.21     $ 2.07  
    Non-GAAP net income per share – diluted   $ 1.41     $ 1.42     $ 5.54     $ 5.21  
                     
    GAAP and non-GAAP weighted-average shares used to compute net income per share – basic     306,553,952       305,822,936       307,981,971       300,748,162  
    GAAP and non-GAAP weighted-average shares used to compute net income per share – diluted     316,693,346       313,467,303       315,069,582       308,519,897  
                     
    Net cash provided by operating activities   $ 424,566     $ 351,225     $ 1,945,308     $ 1,598,836  
    Less: Purchases of property and equipment     (8,334 )     (18,540 )     (136,560 )     (126,953 )
    Free cash flow (non-GAAP)     416,232       332,685       1,808,748       1,471,883  
    Net cash used in investing activities   $ (4,886 )   $ (319,283 )   $ (1,106,024 )   $ (1,183,689 )
    Net cash provided by financing activities   $ (328,971 )   $ 24,234     $ (1,028,077 )   $ 60,186  
    Operating cash flow margin (GAAP)     35.9 %     30.6 %     41.7 %     35.3 %
    Free cash flow margin (non-GAAP)     35.2 %     29.0 %     38.8 %     32.5 %
                     
        Three Months Ended January 31,   Year Ended January 31,
          2025       2025  
        Revenue   YoY Revenue Growth (%)   Revenue   YoY Revenue Growth (%)
    GAAP revenue   $ 1,184,138       3.3 %   $ 4,665,433       3.1 %
    Add: Constant currency impact     3,835       0.3 %     9,545       0.2 %
    Revenue in constant currency (non-GAAP)   $ 1,187,973       3.6 %   $ 4,674,978       3.3 %

    The MIL Network

  • MIL-OSI: Wah Fu Education Group Deeply Integrates DeepSeek: Driving AI-based Education Innovation and Establishing Long-term Growth Strategies

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, China, Feb. 24, 2025 (GLOBE NEWSWIRE) — Wah Fu Education Group Limited (“Wah Fu” or the “Company”) (NASDAQ: WAFU), a provider of online education and exam preparation services, as well as related training materials and technology solutions for both institutions and individuals, announced that it planned to fully access a domestic large language model – DeepSeek, and to officially enter a new era of strategic AI-based education transformation through by intelligently upgrading the curriculum system. 

    AI-driven Product Innovation: Optimization of Short-term Tactics

    Answer questions accurately and intelligently to improve learning efficiency. Wah Fu  has introduced DeepSeek into its self-taught online assisted learning programs to provide AI-based Q&A assistants for more than a thousand popular programs. With the aid of DeepSeek’s powerful natural language processing capabilities and in combination with the knowledge base of the programs, the students can quickly get accurate answers when they have questions. Complex theoretical doubts can be cleared in time, thus helping students understand knowledge, improve their learning efficiency, and enhancing their learning continuity and enthusiasm.

    Personalized learning support increases customer stickiness. Based on DeepSeek’s comprehension, Wah Fu customizes exclusive learning plans based on the students’ learning habits, mastery of knowledge and answering of questions. It pushes learning materials and exercises suitable for the students, teaching the students in accordance with their aptitudes. This cannot only improve the learning efficiency, but also significantly increase the customer stickiness, thereby enhancing market competitiveness of the products.

    Building an AI-based Education Ecosystem: Long-term Strategic Layout

    Perform technological integration and innovation to foster core competencies. Access to DeepSeek is just the beginning. Wah Fu will continuously invest resources in optimizing the knowledge base of programs and the cooperative mechanism of models, to improve the efficiency of data processing and knowledge matching.

    Expand market businesses and develop new growth paths. Taking the upgrading of self-taught education as a breakthrough, Wah Fu continuously expands AI-empowered fields, constantly making adult education, vocational training, evaluation, examination, and resource construction more intelligent.

    About Wah Fu Education Group Limited

    Since its establishment in 1999, Wah Fu has been committed to providing diversified and customized education solutions for the development of students, institutions and universities. It keeps innovating in self-taught examination for higher academic degrees, information application in adult education, non-degree training and others. It has now become one of the most influential brands of distance education for adults in China.

    Safe Harbor Statement

    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; government regulations; and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    For more information, please contact:

    At the Company:

    Raincy Du
    ir@edu-edu.com.cn

    The MIL Network

  • MIL-OSI: HTXMining: Transforming Passive Income with Next-Generation Crypto Staking Solutions

    Source: GlobeNewswire (MIL-OSI)

    London, UK, Feb. 24, 2025 (GLOBE NEWSWIRE) — HTXMining, a leading Liquidity Staking Platform, is making waves in the cryptocurrency industry by providing one of the best ways to earn passive income. HTXMining can rock the world of cryptocurrencies with its appealing features. Htxmining impressed its investors by providing new ways to make the most of their digital assets, all while keeping things safe and profitable.

    HTXMining: The Future of Crypto Staking

    Cryptocurrency staking is a new way to earn passive income. HTXMining is the best crypto-staking platform to stake your digital assets and get high returns. Since staking won’t ask you to invest in expensive hardware or consume excess energy, it will be an eco-friendly and sustainable investment compared to traditional mining.

    HTXMining’s staking services allow you to lock your assets for a set period and earn staking rewards in return. HTXMining is the go-to platform for both beginners and experienced investors because of its high annual percentage yields (APYs), user-friendly interface, and low transaction fees.

    Liquidity Staking Platform: Profitability & Accessibility

    HTXMining is ahead of the curve with its Liquidity Staking Platform. Liquidity staking allows you to stake your assets while keeping liquidity, so you can still trade or use your funds while earning rewards. This is unique to HTXMining and investors have flexibility and financial freedom.

    HTXMining’s staking model guarantees stakers trading and staking rewards. You can maximize your profit potential by providing liquidity to decentralized exchanges (DEXs) and automated market makers (AMMs) without sacrificing asset availability.

    Liquidity Mining Platform: Maximizing Crypto Returns

    HTXMining’s Liquidity Mining Platform is designed to provide unparalleled earning opportunities to crypto enthusiasts. Liquidity mining involves providing assets to liquidity pools in decentralized finance (DeFi) protocols. As a reward for their contribution, liquidity providers can get extra tokens, a share of the transaction fees, or even voting rights within the platform.

    The platform offers diverse liquidity mining pools. Whether staking Ethereum (ETH), Bitcoin (BTC), or stablecoins like USDT and USDC, HTXMining ensures that users can diversify their investments while optimizing their earnings.

    Why HTXMining Serves the Best Crypto Staking Platform

    HTXMining is regarded as the leading platform for crypto staking due to its commitment to transparency, security, and profitability. Among the key distinguishing features of HTXMining are:

    • High-Yield Staking Plans: Users can select from flexible or fixed staking options, with competitive APYs.
    • Low Transaction Fees: Users can maximize their staking and liquidity mining rewards since Htxmining has minimal transaction fees.
    • User-Friendly Interface: The intuitive interface of HTXMining and it is easy to get in touch with a platform for both beginners and experienced users.
    • 24/7 Customer Support: HTXMining provides 24/7 assistance to help users with any inquiries.

    Best Ways to Earn Passive Income with HTXMining

    It was never so easy to earn passive income through cryptocurrency investments as is possible now with HTXMining’s comprehensive solutions for staking and liquidity mining. Whether you’re a beginner or a seasoned investor, here are the best ways to earn passive income on HTXMining:

    1. Traditional Staking

    By staking cryptocurrencies on HTXMining, users can earn attractive staking rewards with minimal risk. Traditional staking offers long-term stability and predictable returns, making it ideal for investors seeking a reliable income stream.

    2. Liquidity Staking

    Liquidity staking in HTXMining enables investors to stake their assets while still being able to access liquidity. HTXMining’s liquidity staking mechanism ensures that stakers benefit from both trading and staking rewards

    3. Liquidity Mining

    HTXMining’s liquidity mining pools are another lucrative way to earn passive income. Investors can boost their overall earnings when they contribute their assets to liquidity pools.

    4. Referral and Affiliate Programs

    HTXMining has an affiliate program where the users can earn commission by referral that helps to earn by referring new investors to the platform. This serves as a good income generator to earn passive income.  

    The Future of Crypto Staking and Liquidity Mining with HTXMining

    The user experience and profitability would be increased by introducing new features with the continuously evolving nature of Htxmining. Upcoming developments will include AI-powered staking optimization, advanced DeFi integration, and multi-chain functionality, which will allow users to stake tokens on various blockchain networks.

    HTXMining holds in high regard innovation, transparency, and financial independence. The platform’s Liquidity Staking Platform and Liquidity Mining Platform provide unparalleled opportunities for investors to generate sustainable passive income in the rapidly growing digital asset space.

    Join HTXMining Today!

    The robust security measures and liquidity mining solutions offer the best way to earn passive income with Htxmining. without considering whether you are a pro or a newcomer to the crypto world. HTXMining is the top choice for anyone looking to make the most out of their crypto. It offers high returns, top-notch security, and an incredibly smooth user experience.

    Get started with Htxmining today, the leading Liquidity Staking Platform and the best crypto staking platform for earning passive income.

    About HTXMining: HTXMining is a cutting-edge cryptocurrency staking and liquidity mining platform that provides users with innovative solutions to earn passive income. With its advanced staking options, secure infrastructure, and user-friendly interface, HTXMining is revolutionizing the way investors engage with digital assets.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network

  • MIL-OSI: Goosehead Insurance, Inc. Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Total Revenue Increased 20% for the year to $314.5 million
    Core Revenue Grew 17% for the year to $273.7 million
    Total Written Premium in 2024 Increased 29% to $3.8 billion
    2024 Net Income of $49.1 million versus $23.7 million in 2023
    Adjusted EBITDA in 2024 up 43% to $99.9 million

    WESTLAKE, Texas, Feb. 24, 2025 (GLOBE NEWSWIRE) — Goosehead Insurance, Inc. (“Goosehead” or the “Company”) (NASDAQ: GSHD), a rapidly growing independent personal lines insurance agency, today announced results for the fourth quarter and year ended December 31, 2024.

    Fourth Quarter 2024 Highlights

    • Total Revenues grew 49% over the prior-year period to $93.9 million in the fourth quarter of 2024
    • Fourth quarter Core Revenues* of $68.0 million increased 19% over the prior-year period
    • Fourth quarter net income of $23.8 million improved from net income of $5.4 million a year ago. EPS of $0.60 per share increased 300% and adjusted EPS* of $0.79 per share increased 182%, over the prior-year period
    • Net income margin for the fourth quarter was 25%
    • Adjusted EBITDA* of $37.4 million increased 164% from $14.1 million in the prior-year period
    • Adjusted EBITDA Margin* increased 17 percentage points over the prior-year period to 40%
    • Total written premiums placed for the fourth quarter increased 28% over the prior-year period to $965.6 million
    • Policies in force grew 13% from the prior-year period to approximately 1,674,000

    *Core Revenue, Adjusted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin are non-GAAP measures. Reconciliations of Core Revenue to total revenues, Adjusted EPS to basic earnings per share and Adjusted EBITDA to net income, the most directly comparable financial measures presented in accordance with GAAP, are set forth in the reconciliation table accompanying this release.

    “We had an outstanding 2024 in the face of significant macro headwinds. For the full year premium growth was 29%, total revenue increased 20%, core revenue was up 17%, net income grew 107% to $49.1 million and Adjusted EBITDA grew 43% to $99.9 million, with net income margin of 16% up 700 basis points and Adjusted EBITDA Margin of 32% up 500 basis points,” stated Mark K Miller, President and CEO. “I am pleased we began to demonstrate growth re-acceleration in a number of key performance indicators including policies in force were up 13%. Our producer base is healthier than ever as franchise productivity was up 49%, coupled with franchise producer growth of 7%. Loss activity and insurance market challenges in 2024 and the start of 2025 have further highlighted the importance of appropriate personal lines coverage, as well as the value we bring to clients, agents and carriers. We are encouraged to be seeing signs of gradual improvement in the product market. I couldn’t be more excited for what lies ahead as we continue to invest in people and technology. This further expands our competitive moat as we progress on our journey to becoming the largest distributor of personal lines in the US.” 

    Fourth Quarter 2024 Results
    For the fourth quarter of 2024, revenues were $93.9 million, an increase of 49% compared to the corresponding period in 2023. Core Revenues, a non-GAAP measure which excludes contingent commissions, initial franchise fees, interest income, and other income, were $68.0 million, a 19% increase from $56.9 million in the prior-year period. Core Revenues are the most reliable revenue stream for the Company, consisting of New Business Commissions, Agency Fees, New Business Royalty Fees, Renewal Commissions, and Renewal Royalty Fees. Core Revenue growth was primarily driven by strong client retention of 84% and rising premium rates as well as increases in both the number of corporate agents and productivity per agency. The Company grew total written premiums, which we consider to be the leading indicator of future revenue growth, by 28% in the fourth quarter compared to the corresponding period in prior year.

    Total operating expenses, excluding equity-based compensation, depreciation and amortization and impairment expenses, for the fourth quarter of 2024 were $56.5 million, up 16% from $48.9 million in the prior-year period. The increase from the prior period was primarily due to increased employee compensation and benefits expenses related to investments in corporate producers, technology, and service functions. General and administrative expenses, excluding impairment, increased to $17.8 million from $14.1 million primarily due to investments in technology and systems to drive growth and continue to improve the client experience. Equity-based compensation increased to $6.9 million for the period, compared to $5.0 million a year ago. Bad debt expense of $0.6 million decreased from $1.0 million a year ago.

    Net income in the fourth quarter of 2024 was $23.8 million versus net income of $5.4 million a year ago, with the improvement primarily due to strong revenue growth and expense discipline. Earnings per share and Net Income Margin for the fourth quarter of 2024 were $0.60 and 25%, respectively. Adjusted EPS for the fourth quarter of 2024, which excludes equity-based compensation and impairment expense, was $0.79 per share. Total Adjusted EBITDA was $37.4 million for the fourth quarter of 2024 compared to $14.1 million in the prior-year period. Adjusted EBITDA Margin of 40% was up 17 percentage points in the quarter.

    Liquidity and Capital Resources
    As of December 31, 2024, the Company had cash and cash equivalents of $58.0 million. We had an unused line of credit of $74.8 million as of December 31, 2024. Total outstanding term note payable balance was $93.1 million as of December 31, 2024.

    On January 8, 2025, the Company entered into a credit agreement (the “2025 Credit Agreement”) providing for an aggregate $300 million term notes payable (the “2025 Initial Term Loan”) and $75 million revolving credit facility (the “2025 Revolving Credit Facility”). The 2025 Initial Term Loan matures on January 8, 2032 and the 2025 Revolving Credit Facility matures on January 8, 2030. This credit agreement replaces the existing Second Amended and Restated Credit Agreement, dated July 21, 2021, which was repaid with the proceeds of the 2025 Initial Term Loan and terminated.

    On January 9, 2025, Goosehead Financial, LLC (“GF”) declared a special distribution of $175 million, which was paid in cash on January 31, 2025 to holders of record of LLC Units, including to GSHD, as of the close of business on January 21, 2025. The special distribution resulted in a payment of $59 million to our non-controlling interest holders. On January 9, 2025, the board of directors of the Company declared a one-time special cash dividend of $5.91 to all holders of Class A common stock of GSHD as of the close of business on January 21, 2025, which was paid in cash on January 31, 2025 for a total of $146 million. $1.22 of the special cash dividend was funded by cash received by GSHD from prior tax distributions from GF that are in excess of the corporate income taxes payable by GSHD. The remaining $4.69 of the special dividend was funded by the cash received by the Company from the special distribution by GF.

    2025 Outlook
    Our guidance for the full year 2025 is as follows:

    • Total written premiums placed are expected to be between $4.65 billion and $4.88 billion representing 22% organic growth on the low end of the range, and 28% organic growth on the high end of the range.
    • Total revenues are expected to be between $350 million and $385 million representing 11% organic growth on the low end of the range and 22% organic growth on the high end of the range.

    Conference Call Information
    Goosehead will host a conference call and webcast today at 4:30 PM ET to discuss these results.

    To access the call by phone, participants should go to this link (registration link), and you will be provided with the dial in details.

    In addition, a live webcast of the conference call will also be available on Goosehead’s investor relations website at http://ir.goosehead.com.

    A webcast replay of the call will be available at http://ir.goosehead.com for one year following the call.

    About Goosehead

    Goosehead (NASDAQ: GSHD) is a rapidly growing and innovative independent personal lines insurance agency that distributes its products and services through corporate and franchise locations throughout the United States. Goosehead was founded on the premise that the consumer should be at the center of our universe and that everything we do should be directed at providing extraordinary value by offering broad product choice and a world-class service experience. Goosehead represents over 200 insurance companies that underwrite personal and commercial lines. For more information, please visit goosehead.com or goosehead.com/become-a-franchisee.

    Forward-Looking Statements

    This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Goosehead’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or Goosehead’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.

    Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, conditions impacting insurance carriers or other parties with which Goosehead does business, the loss of one or more key executives or an inability to attract and retain qualified personnel and the failure to attract and retain highly qualified franchisees. These risks and uncertainties also include, but are not limited to, those described under the captions “1A. Risk Factors” in Goosehead’s Annual Report on Form 10-K for the year ended December 31, 2024 and in Goosehead’s other filings with the SEC, which are available free of charge on the Securities Exchange Commission’s website at: www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to Goosehead or to persons acting on behalf of Goosehead are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Goosehead does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.

    Contacts
    Investor Contact:
    Dan Farrell
    Goosehead Insurance – VP Capital Markets
    Phone: (214) 838-5290
    Email: dan.farrell@goosehead.com; IR@goosehead.com 

    PR Contact:
    Mission North for Goosehead Insurance
    Email: goosehead@missionnorth.com; PR@goosehead.com

    Goosehead Insurance, Inc.
    Consolidated Statements of Operations
    (Unaudited)
    (In thousands, except per share amounts)

        Three Months
    Ended December 31,
      Twelve Months
    Ended December 31,
          2024       2023       2024       2023  
    Revenues:                
    Commissions and agency fees   $ 50,277     $ 27,424     $ 139,059     $ 116,061  
    Franchise revenues     43,438       35,282       174,514       143,772  
    Interest income     207       308       932       1,443  
    Total revenues     93,922       63,014       314,505       261,276  
    Operating Expenses:                
    Employee compensation and benefits     45,044       38,803       172,942       152,604  
    General and administrative expenses     17,833       14,092       67,069       62,111  
    Bad debts     556       1,009       2,901       4,361  
    Depreciation and amortization     2,639       2,427       10,453       9,244  
    Total operating expenses     66,072       56,331       253,365       228,320  
    Income from operations     27,850       6,683       61,140       32,956  
    Other Income:                
    Interest expense     (1,810 )     (1,511 )     (7,339 )     (6,568 )
    Other income (expense)     (1,359 )           (7,101 )      
    Income before taxes     24,681       5,172       46,700       26,388  
    Tax expense (benefit)     859       (252 )     (2,413 )     2,692  
    Net Income     23,822       5,423       49,113       23,696  
    Less: net income attributable to non-controlling interests     8,968       1,803       18,688       9,556  
    Net Income attributable to Goosehead Insurance, Inc.   $ 14,855     $ 3,620     $ 30,425     $ 14,140  
    Earnings per share:                
    Basic   $ 0.60     $ 0.15     $ 1.23     $ 0.59  
    Diluted   $ 0.57     $ 0.14     $ 1.15     $ 0.55  
    Weighted average shares of Class A common stock outstanding:                
    Basic     24,562       24,688       24,657       23,929  
    Diluted     38,399       25,516       38,301       38,356  
                                     


    Goosehead Insurance, Inc.

    Consolidated Statements of Operations
    (Unaudited)
    (In thousands, except per share amounts)

        Three Months
    Ended December 31,
      Twelve Months
    Ended December 31,
          2024       2023       2024       2023  
    Revenues:                
    Core Revenue:                
    Renewal Commissions(1)   $ 18,171     $ 17,335     $ 74,938     $ 70,730  
    Renewal Royalty Fees(2)     34,990       27,180       138,942       107,524  
    New Business Commissions(1)     5,997       5,512       24,608       23,411  
    New Business Royalty Fees(2)     6,725       5,349       27,122       23,168  
    Agency Fees(1)     2,091       1,532       8,127       8,174  
    Total Core Revenue     67,974       56,908       273,737       233,007  
    Cost Recovery Revenue:                
    Initial Franchise Fees(2)     1,332       2,458       6,620       11,238  
    Interest Income     207       308       932       1,443  
    Total Cost Recovery Revenue     1,539       2,766       7,552       12,681  
    Ancillary Revenue:                
    Contingent Commissions(1)     24,018       3,045       31,385       13,746  
    Other Franchise Revenues(2)     391       296       1,831       1,843  
    Total Ancillary Revenue     24,409       3,340       33,216       15,588  
    Total Revenues     93,922       63,014       314,505       261,276  
    Operating Expenses:                
    Employee compensation and benefits, excluding equity-based compensation     38,155       33,765       144,971       128,615  
    General and administrative expenses, excluding impairment     17,833       14,092       66,723       58,483  
    Bad debts     556       1,009       2,901       4,361  
    Total     56,544       48,866       214,594       191,459  
    Adjusted EBITDA     37,378       14,148       99,911       69,817  
    Adjusted EBITDA Margin     40 %     22 %     32 %     27 %
                     
    Interest expense     (1,810 )     (1,511 )     (7,339 )     (6,568 )
    Depreciation and amortization     (2,639 )     (2,427 )     (10,453 )     (9,244 )
    Tax (expense) benefit     (859 )     252       2,413       (2,692 )
    Equity-based compensation     (6,889 )     (5,038 )     (27,971 )     (23,989 )
    Impairment expense                 (347 )     (3,628 )
    Other Income (expense)     (1,359 )           (7,101 )      
    Net Income   $ 23,822     $ 5,423     $ 49,113     $ 23,696  
    Net Income Margin     25 %     9 %     16 %     9 %

    (1) Renewal Commissions, New Business Commissions, Agency Fees, and Contingent Commissions are included in “Commissions and agency fees” as shown on the Consolidated Statements of Operations within Goosehead’s Form 10-K for the twelve months ended December 31, 2024 and 2023.
    (2) Renewal Royalty Fees, New Business Royalty Fees, Initial Franchise Fees, and Other Franchise Revenues are included in “Franchise revenues” as shown on the Consolidated Statements of Operations within Goosehead’s Form 10-K for the twelve months ended December 31, 2024 and 2023.

    Goosehead Insurance, Inc.
    Consolidated Balance Sheets
    (Unaudited) 
    (In thousands, except par value amounts)

        December 31,
          2024     2023
    Assets        
    Current Assets:        
    Cash and cash equivalents   $ 54,280   $ 41,956
    Restricted cash     3,693     2,091
    Commissions and agency fees receivable, net     31,375     12,903
    Receivable from franchisees, net     11,077     9,720
    Prepaid expenses     8,139     7,889
    Total current assets     108,564     74,559
    Receivable from franchisees, net of current portion     3,469     9,269
    Property and equipment, net of accumulated depreciation     24,101     30,316
    Right-of-use asset     37,420     38,406
    Intangible assets, net of accumulated amortization     25,075     17,266
    Deferred income taxes, net     193,478     181,209
    Other assets     5,546     3,867
    Total assets   $ 397,653   $ 354,892
    Liabilities and Stockholders’ Equity        
    Current Liabilities:        
    Accounts payable and accrued expenses   $ 22,894   $ 16,398
    Premiums payable     3,693     2,091
    Lease liability     6,535     8,897
    Contract liabilities     3,275     4,129
    Note payable     10,063     9,375
    Total current liabilities     46,460     40,890
    Lease liability, net of current portion     54,536     57,382
    Note payable, net of current portion     82,251     67,562
    Contract liabilities, net of current portion     15,191     22,970
    Liabilities under tax receivable agreement     160,142     149,302
    Total liabilities     358,580     338,106
    Total equity     39,073     16,786
    Total liabilities and equity   $ 397,653   $ 354,892

    Goosehead Insurance, Inc.
    Reconciliation Non-GAAP Measures to GAAP

    This release includes Core Revenue, Cost Recovery Revenue, Ancillary Revenue, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EPS that are not required by, nor presented in accordance with, generally accepted accounting principles in the United States (“GAAP”). The Company refers to these measures as “non-GAAP financial measures.” The Company uses these non-GAAP financial measures when planning, monitoring and evaluating its performance and considers these non-GAAP financial measures to be useful metrics for management and investors to facilitate operating performance comparisons from period to period by excluding potential differences caused by variations in capital structures, tax position, depreciation, amortization and certain other items that the Company believes are not representative of its core business. The Company uses Core Revenue, Cost Recovery Revenue, Ancillary Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted EPS for business planning purposes and in measuring its performance relative to that of its competitors.

    These non-GAAP financial measures are defined by the Company as follows:

    • “Core Revenue” is a supplemental measure of our performance and includes Renewal Commissions, Renewal Royalty Fees, New Business Commissions, New Business Royalty Fees, and Agency Fees. We believe that Core Revenue is an appropriate measure of operating performance because it summarizes all of our revenues from sales of individual insurance policies.
    • “Cost Recovery Revenue” is a supplemental measure of our performance and includes Initial Franchise Fees and Interest Income. We believe that Cost Recovery Revenue is an appropriate measure of operating performance because it summarizes revenues that are viewed by management as cost recovery mechanisms.
    • “Ancillary Revenue” is a supplemental measure of our performance and includes Contingent Commissions and Other Income. We believe that Ancillary Revenue is an appropriate measure of operating performance because it summarizes revenues that are ancillary to our core business.
    • “Adjusted EBITDA” is a supplemental measure of the Company’s performance. We believe that Adjusted EBITDA is an appropriate measure of operating performance because it eliminates the impact of items that do not relate to business performance. Adjusted EBITDA is defined as net income (the most directly comparable GAAP measure) before interest, income taxes, depreciation and amortization, adjusted to exclude equity-based compensation, impairment expense, and other non-operating items, including, among other things, certain non-cash charges and certain non-recurring or non-operating gains or losses.
    • “Adjusted EBITDA Margin” is Adjusted EBITDA as defined above, divided by total revenue. Adjusted EBITDA Margin is helpful in measuring profitability of operations on a consolidated level.
    • “Adjusted EPS” is a supplemental measure of our performance, defined as earnings per share (the most directly comparable GAAP measure) before non-recurring or non-operating income and expenses. Adjusted EPS is a useful measure to management because it eliminates the impact of items that do not relate to business performance and helps measure our profitability on a consolidated level.

    While the Company believes that these non-GAAP financial measures are useful in evaluating its business, this information should be considered as supplemental in nature and is not meant as a substitute for revenues, net income, or earnings per share, in each case as recognized in accordance with GAAP. In addition, other companies, including companies in the Company’s industry, may calculate such measures differently, which reduces their usefulness as comparative measures.

    The following tables show a reconciliation from total revenues to Core Revenue, Cost Recovery Revenue, and Ancillary Revenue (non-GAAP basis) for the three and twelve months ended December 31, 2024 and 2023 (in thousands):

      Three Months
    Ended December 31,
      Twelve Months
    Ended December 31,
        2024     2023     2024     2023
    Total Revenues $ 93,922   $ 63,014   $ 314,505   $ 261,276
                   
    Core Revenue:              
    Renewal Commissions(1) $ 18,171   $ 17,335   $ 74,938   $ 70,730
    Renewal Royalty Fees(2)   34,990     27,180     138,942     107,524
    New Business Commissions(1)   5,997     5,512     24,608     23,411
    New Business Royalty Fees(2)   6,725     5,349     27,122     23,168
    Agency Fees(1)   2,091     1,532     8,127     8,174
    Total Core Revenue   67,974     56,908     273,737     233,007
    Cost Recovery Revenue:              
    Initial Franchise Fees(2)   1,332     2,458     6,620     11,238
    Interest Income   207     308     932     1,443
    Total Cost Recovery Revenue   1,539     2,766     7,552     12,681
    Ancillary Revenue:              
    Contingent Commissions(1)   24,018     3,045     31,385     13,746
    Other Franchise Revenues(2)   391     296     1,831     1,843
    Total Ancillary Revenue   24,409     3,340     33,216     15,588
    Total Revenues $ 93,922   $ 63,014   $ 314,505   $ 261,276

    (1) Renewal Commissions, New Business Commissions, Agency Fees, and Contingent Commissions are included in “Commissions and agency fees” as shown on the Consolidated Statements of Operations.
    (2) Renewal Royalty Fees, New Business Royalty Fees, Initial Franchise Fees, and Other Franchise Revenues are included in “Franchise revenues” as shown on the Consolidated Statements of Operations.

    The following tables show a reconciliation from net income to Adjusted EBITDA and Adjusted EBITDA Margin (non-GAAP basis) for the three and twelve months ended December 31, 2024 and 2023 (in thousands):

        Three Months
    Ended December 31,
      Twelve Months
    Ended December 31,
          2024       2023       2024       2023  
    Net Income   $ 23,822     $ 5,423     $ 49,113     $ 23,696  
    Interest expense     1,810       1,511       7,339       6,568  
    Depreciation and amortization     2,639       2,427       10,453       9,244  
    Tax expense (benefit)     859       (252 )     (2,413 )     2,692  
    Equity-based compensation     6,889       5,038       27,971       23,989  
    Impairment expense                 347       3,628  
    Other (income) expense     1,359             7,101        
    Adjusted EBITDA   $ 37,378     $ 14,148     $ 99,911     $ 69,817  
    Net Income Margin(1)     25 %     9 %     16 %     9 %
    Adjusted EBITDA Margin(2)     40 %     22 %     32 %     27 %

    (1) Net Income Margin is calculated as Net Income divided by Total Revenue ($23,822/$93,922) and ($5,423/$63,014) for the three months ended December 31, 2024 and 2023. Net Income Margin is calculated as Net Income divided by Total Revenue ($49,113/$314,505) and ($23,696/$261,276) for the twelve months ended December 31, 2024 and 2023
    (2) Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by Total Revenue ($37,378/$93,922), and ($14,148/$63,014) for the three months ended December 31, 2024 and 2023, respectively. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by Total Revenue ($99,911/$314,505), and ($69,817/$261,276) for the twelve months ended December 31, 2024 and 2023.

    The following tables show a reconciliation from basic earnings per share to Adjusted EPS (non-GAAP basis) for the three and twelve months ended December 31, 2024 and 2023. Note that totals may not sum due to rounding:

        Three Months
    Ended December 31,
      Twelve Months
    Ended December 31,
          2024     2023     2024     2023
    Earnings per share – basic (GAAP)   $ 0.60   $ 0.15   $ 1.23   $ 0.59
    Add: equity-based compensation(1)     0.19     0.13     0.75     0.64
    Add: impairment expense(2)             0.01     0.10
    Adjusted EPS (non-GAAP)   $ 0.79   $ 0.28   $ 1.99   $ 1.33

    (1) Calculated as equity-based compensation divided by sum of weighted average Class A and Class B shares [$6.9 million/(24.6 million + 12.7 million)] for the three months ended December 31, 2024 and [$5.0 million/ (24.7 million + 13.2 million)] for the three months ended December 31, 2023. Calculated as equity-based compensation divided by sum of weighted average Class A and Class B shares [$28.0 million/(24.7 million + 12.7 million)] for the twelve months ended December 31, 2024 and [$24.0 million/ (23.9 million + 13.8 million)] for the twelve months ended December 31, 2023.
    (2) Calculated as impairment expense divided by sum of weighted average Class A and Class B shares [$0.3 million/(24.7 million + 12.7 million)] for the twelve months ended December 31, 2024 and [$3.6 million/ (23.9 million + 13.8 million)] for the twelve months ended December 31, 2023. No impairment was recorded for the three months ended December 31, 2024 nor the three months ended December 31, 2023.


    Goosehead Insurance, Inc.

    Key Performance Indicators

        December 31, 2024   December 31, 2023
    Corporate sales agents < 1 year tenured     253       135  
    Corporate sales agents > 1 year tenured     164       165  
    Operating franchises < 1 year tenured     90       183  
    Operating franchises > 1 year tenured     1,013       1,043  
    Total Franchise Producers     2,092       1,957  
    QTD Corporate Agent Productivity < 1 Year (1)   $ 12,787     $ 13,789  
    QTD Corporate Agent Productivity > 1 Year (1)   $ 26,788     $ 25,738  
    QTD Franchise Productivity < 1 Year (2)   $ 17,861     $ 10,975  
    QTD Franchise Productivity > 1 Year (2)   $ 29,089     $ 21,103  
    Policies in Force     1,674,000       1,486,000  
    Client Retention     84 %     86 %
    Premium Retention     98 %     101 %
    QTD Written Premium (in thousands)   $ 965,596     $ 756,082  
    Net Promoter Score (“NPS”)     89       92  

    (1) – Corporate Productivity is New Business Production per Agent (Corporate): The New Business Revenue collected related to corporate sales, divided by the average number of full-time corporate sales agents for the same period. This calculation excludes interns, part-time sales agents and partial full-time equivalent sales managers.
    (2) – Franchise Productivity is New Business Production per Agency: The gross commissions paid by Carriers and Agency Fees received related to policies in their first term sold by franchise sales agents, divided by the average number of franchises for the same period, prior to paying Royalty Fees to the Company.

    The MIL Network

  • MIL-OSI: Dave to Participate in Upcoming Investor Conferences in March

    Source: GlobeNewswire (MIL-OSI)

    Los Angeles, California , Feb. 24, 2025 (GLOBE NEWSWIRE) — Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced that the Company will participate in two upcoming investor conferences in March 2025.

    • The Citizens JMP Technology Conference is being held March 3-4 at The Ritz-Carlton in San Francisco, CA. The Company will participate in a fireside chat at 12:30pm PT and hold 1×1 meetings throughout the day on March 4. Please click here to view the live event. A replay of the presentation will also be available on the Dave investor relations website at investors.dave.com.
    • The Wolfe Research FinTech Forum is being held March 11-12 at the Lotte New York Palace in New York, NY. The Company will participate in an investor presentation and hold 1×1 meetings throughout the day on March 12.

    To request a meeting with the Dave team, please contact your respective conference representative or email the Company’s investor relations team at DAVE@elevate-ir.com.

    About Dave

    Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, a FDIC member. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.

    Investor Relations Contact

    Sean Mansouri, CFA
    Elevate IR
    DAVE@elevate-ir.com

    Media Contact

    Dan Ury
    press@dave.com

    The MIL Network

  • MIL-OSI: Varonis to Present at March Investor Conference

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 24, 2025 (GLOBE NEWSWIRE) — Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, announced its participation at the following upcoming conference:

    • The Morgan Stanley Technology, Media & Telecom Conference, March 3 – 6, in San Francisco. The presentation is scheduled for March 3 at 1:50 p.m. PT.

    The audio presentations will be webcast live and available by visiting the “Investor Relations” section of Varonis’ website at ir.varonis.com. The webcasts will be archived on the website for a limited time following the conferences.

    Additional Resources

    About Varonis

    Varonis (Nasdaq: VRNS) is a leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

    Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), and insider risk management.

    Varonis protects data first, not last. Learn more at www.varonis.com.

    Investor Relations Contact:
    Tim Perz
    Varonis Systems, Inc.
    646-640-2112
    investors@varonis.com

    News Media Contact:
    Rachel Hunt
    Varonis Systems, Inc.
    877-292-8767 (ext. 1598)
    pr@varonis.com

    The MIL Network

  • MIL-OSI: EverQuote Announces Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth Quarter Revenue Growth of 165% Year-Over-Year to $147.5 million
    • Fourth Quarter Variable Marketing Dollars Increases Over 110% Year-Over-Year to $44.0 million
    • Delivers Fourth Quarter Net Income of $12.3 million and Adjusted EBITDA of $18.9 million
    • Full Year Revenue Grows 74% and Variable Marketing Dollars Increases 55%, Year-Over-Year
    • Full Year Net Income Increases to $32.2 million and Generates Operating Cash Flow of $66.6 million

    CAMBRIDGE, Mass., Feb. 24, 2025 (GLOBE NEWSWIRE) — EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2024.

    “I am proud of our remarkable team and our financial accomplishments in 2024. We grew revenue by 74% year-over-year to cross the $500 million mark for the first time, increased Adjusted EBITDA to almost $60 million, and finished the year with over $100 million of cash on the balance sheet, and no debt,” said Jayme Mendal, CEO of EverQuote. “Over the last year, we have refocused and clarified our vision to become the leading growth partner for P&C insurance providers by efficiently delivering better performing referrals, bigger traffic scale and a broader suite of products and services. We are emerging from the auto insurance downturn with record performance, and expect to carry forward our positive momentum and profitable growth into 2025 and beyond.”

    “Our strong momentum continued through the fourth quarter, as we again exceeded guidance across all three of our primary financial metrics: total revenue, Variable Marketing Dollars or VMD, and Adjusted EBITDA. We produced a record-level of revenue and net income, as well as a record-level of Adjusted EBITDA and operating cash flow for the full year 2024,” said Joseph Sanborn, CFO of EverQuote. “As we progress through 2025, we plan to make continued strategic investments to accelerate the advancement of our technology platform to enable faster development of product enhancements and new offerings for our customers. We are excited about our ability to continue to leverage our traffic expertise, data assets and technology to support our insurance provider customers in successfully expanding their business; and in turn enable EverQuote to further scale and drive growing profitability.”

    Fourth Quarter 2024 Highlights:
    (Unless otherwise noted, all comparisons are relative to the fourth quarter of 2023).

    • Total revenue of $147.5 million, an increase of 165%.
    • Automotive insurance vertical revenue of $135.9 million, an increase of over 200%.
    • Home and renters insurance vertical revenue of $11.3 million, an increase of 15%.
    • VMD more than doubled to $44.0 million, compared to $20.7 million.
    • GAAP net income of $12.3 million, compared to a GAAP net loss of ($6.3) million.
    • Adjusted EBITDA of $18.9 million, compared to ($0.9) million.
    • Operating cash flow of $20.1 million, compared to ($0.8) million.
    • Ended the quarter with $102.1 million in cash and cash equivalents, an increase of 23% from $82.8 million at the end of the third quarter of 2024.

    Full Year 2024 Highlights:
    (Unless otherwise noted, all comparisons are relative to full year 2023 results).

    • Total revenue of $500.2 million, an increase of 74%.
    • Automotive insurance vertical revenue of $446.1 million, an increase of 96%.
    • Home and renters insurance vertical revenue of $52.0 million, an increase of 27%.
    • VMD increased 55% to $155.2 million, compared to $100.3 million.
    • GAAP net income of $32.2 million, compared to a GAAP net loss of ($51.3) million. The net loss for 2023 includes $23.6 million of restructuring and other charges related to the sale of our health insurance vertical assets and workforce reduction.
    • Adjusted EBITDA of $58.2 million, compared to $0.5 million.
    • Operating cash flow of $66.6 million, compared to ($2.8) million.

    First Quarter 2025 Outlook:

    • Revenue of $155.0 – $160.0 million, representing 73% year-over-year growth at the midpoint.
    • Variable Marketing Dollars of $44.0 – $46.0 million, representing 46% year-over-year growth at the midpoint.
    • Adjusted EBITDA of $19.0 – $21.0 million, representing 163% year-over-year growth at the midpoint.

    With respect to the Company’s expectations under “First Quarter 2025 Outlook” above, the Company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net income (loss) in this press release because the Company does not provide guidance for stock-based compensation expense, depreciation and amortization expense, restructuring and other charges, acquisition-related costs, interest income, and income taxes on a consistent basis as the Company is unable to quantify these amounts without unreasonable efforts, which would be required to include a reconciliation of Adjusted EBITDA to GAAP net income (loss). In addition, the Company believes such a reconciliation would imply a degree of precision that could be confusing or misleading to investors.

    Conference Call and Webcast Information

    EverQuote will host a conference call and live webcast to discuss its fourth quarter and full year 2024 financial results at 4:30 p.m. Eastern Time today, February 24, 2025. To access the conference call, dial Toll Free: +1 (800) 715-9871 for the US, or +1 (646) 307-1963 for international callers, and provide conference ID 4210704. The live webcast and replay will be available on the Investors section of the Company’s website at https://investors.everquote.com.

    Safe Harbor Statement

    This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “should,” “expects,” “might,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “seek,” “would” or “continue,” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, liquidity and results of operations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions described in our annual report on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K as filed with the Securities and Exchange Commission (“SEC”) from time to time. Additional information will also be set forth in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2024, which will be filed with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. While we may elect to update these forward-looking statements at some point in the future, whether as a result of any new information, future events, or otherwise, we have no current intention of doing so except to the extent required by applicable law. Some of the key factors that could cause actual results to differ include: (1) our dependence on revenue from the property and casualty insurance industries, and specifically automotive insurance, and exposure to risks related to those industries; (2) our dependence on our relationships with insurance providers with no long-term minimum financial commitments; (3) our reliance on a small number of insurance providers for a significant portion of our revenue; (4) our dependence on third-party media sources for a significant portion of visitors to our websites and marketplace; (5) our ability to attract consumers searching for insurance to our websites and marketplace through Internet search engines, display advertising, social media, content-based online advertising and other online sources; (6) any limitations restricting our ability to market to users or collect and use data derived from user activities; (7) risks related to cybersecurity incidents or other network disruptions; (8) risks related to the use of artificial intelligence; (9) our ability to develop new and enhanced products and services to attract and retain consumers and insurance providers, and to successfully monetize them; (10) the impact of competition in our industry and innovation by our competitors; (11) our ability to hire and retain necessary qualified employees to expand our operations; (12) our ability to stay abreast of and comply with new or modified laws and regulations that currently apply or become applicable to our business, including with respect to the insurance industry, telemarketing restrictions and data privacy requirements; (13) our ability to protect our intellectual property rights and maintain and build our brand; (14) our future financial performance, including our expectations regarding our revenue, cost of revenue, variable marketing dollars, operating expenses, cash flows and ability to achieve, and maintain, future profitability; (15) our ability to properly collect, process, store, share, disclose and use consumer information and other data; and (16) the future trading prices of our Class A common stock.

    About EverQuote

    EverQuote operates a leading online marketplace for insurance shopping, connecting consumers with insurance provider customers, which includes both carriers and agents. Our vision is to be the leading growth partner for property and casualty, or P&C, insurance providers. Our results-driven marketplace, powered by our proprietary data and technology platform, is improving the way insurance providers attract and connect with consumers shopping for insurance.

    For more information, visit https://investors.everquote.com and follow on LinkedIn.

    Investor Relations Contact

    Brinlea Johnson
    The Blueshirt Group
    (415) 489-2193

     
    EVERQUOTE, INC.
    STATEMENTS OF OPERATIONS
     
        Three Months Ended
    December 31,
        Year Ended December
    31,
     
        2024     2023     2024     2023  
        (in thousands except per share)  
    Revenue   $ 147,455     $ 55,705     $ 500,190     $ 287,921  
    Cost and operating expenses(1):                                
    Cost of revenue     5,420       4,988       20,922       22,455  
    Sales and marketing     114,209       44,594       387,700       240,131  
    Research and development     7,640       5,944       29,553       27,591  
    General and administrative     8,159       6,962       30,264       26,301  
    Restructuring and other charges           (21 )           23,568  
    Acquisition-related costs                       (150 )
    Total cost and operating expenses     135,428       62,467       468,439       339,896  
    Income (loss) from operations     12,027       (6,762 )     31,751       (51,975 )
    Other income:                                
    Interest income     683       382       2,079       1,251  
    Other income, net   24       9     178     14  
    Total other income, net     707       391       2,257       1,265  
    Income (loss) before income taxes     12,734       (6,371 )     34,008       (50,710 )
    Income tax (expense) benefit     (428 )     23       (1,839 )     (577 )
    Net income (loss)   $ 12,306     $ (6,348 )   $ 32,169     $ (51,287 )
    Net income (loss) per share:                                
    Basic   $ 0.35     $ (0.19 )   $ 0.92     $ (1.54 )
    Diluted   $ 0.33     $ (0.19 )   $ 0.88     $ (1.54 )
    Weighted average common shares
        outstanding, basic and diluted
                                   
    Basic     35,490       33,954       35,007       33,350  
    Diluted     37,051       33,954       36,646       33,350  
                                     
    (1) Amounts include stock-based compensation expense, as follows:                          
        Three Months Ended
    December 31,
        Year Ended December
    31,
     
        2024     2023     2024     2023  
        (in thousands)  
    Cost of revenue   $ 53     $ 49     $ 182     $ 219  
    Sales and marketing     1,713       1,906       6,796       8,667  
    Research and development     1,422       1,574       5,502       8,053  
    General and administrative     2,122       1,284       8,134       5,869  
    Restructuring and other charges                       1,288  
        $ 5,310     $ 4,813     $ 20,614     $ 24,096  
     
     
    EVERQUOTE, INC.
    BALANCE SHEET DATA
     
        December 31,  
        2024     2023  
        (in thousands)  
    Cash and cash equivalents   $ 102,116     $ 37,956  
    Working capital     99,131       39,293  
    Total assets     210,530       110,925  
    Total liabilities     75,162       30,018  
    Total stockholders’ equity     135,368       80,907  
     
     
    EVERQUOTE, INC.
    STATEMENTS OF CASH FLOWS
     
        Three Months Ended
    December 31,
        Year Ended December
    31,
     
        2024     2023     2024     2023  
        (in thousands)  
    Cash flows from operating activities:                                
    Net income (loss)   $ 12,306     $ (6,348 )   $ 32,169     $ (51,287 )
    Adjustments to reconcile net income (loss) to net cash provided by
       (used in) operating activities:
                                   
    Depreciation and amortization     1,555       1,075       5,672       6,196  
    Stock-based compensation expense     5,310       4,813       20,614       24,096  
    Loss on sale of health assets                       19,388  
    Impairment of right-of-use asset                       384  
    Change in fair value of contingent consideration
       liabilities
                          (150 )
    Provision for (recovery of) bad debt     (3 )     18       13       204  
    Unrealized foreign currency transaction (gains) losses     (82 )     22       (26 )     21  
    Changes in operating assets and liabilities:                                
    Accounts receivable     (13,099 )     952       (40,178 )     8,219  
    Prepaid expenses and other current assets     128       (1,675 )     440       962  
    Commissions receivable, current and non-current     1,158       1,565       4,880       4,176  
    Operating lease right-of-use assets     371       491       2,213       2,497  
    Other assets           385       (291 )     421  
    Accounts payable     12,961       (3,382 )     42,664       (13,411 )
    Accrued expenses and other current liabilities     (73 )     1,979       1,040       (1,543 )
    Deferred revenue     (14 )     (29 )     (107 )     5  
    Operating lease liabilities     (384 )     (658 )     (2,537 )     (3,006 )
    Net cash provided by (used in) operating activities     20,134       (792 )     66,566       (2,828 )
    Cash flows from investing activities:                                
    Acquisition of property and equipment, including costs
        capitalized for development of internal-use software
        (1,003 )     (852 )     (4,114 )     (3,840 )
    Proceeds from sale of health assets                       13,194  
    Net cash provided by (used in) investing activities     (1,003 )     (852 )     (4,114 )     9,354  
    Cash flows from financing activities:                                
    Proceeds from exercise of stock options     651       639       3,553       979  
    Tax withholding payments related to net share settlement     (496 )     (103 )     (1,846 )     (402 )
    Net cash provided by financing activities     155       536       1,707       577  
    Effect of exchange rate changes on cash,
        cash equivalents and restricted cash
        (11 )     15       1       18  
    Net increase (decrease) in cash, cash equivalents and
       restricted cash
        19,275       (1,093 )     64,160       7,121  
    Cash, cash equivalents and restricted cash at beginning
       of period
        82,841       39,049       37,956       30,835  
    Cash, cash equivalents and restricted cash at end
       of period
      $ 102,116     $ 37,956     $ 102,116     $ 37,956  
     
     
    EVERQUOTE, INC.
    FINANCIAL AND OPERATING METRICS
    Revenue by vertical:
        Three Months Ended
    December 31,
        Change  
        2024     2023     %  
        (in thousands)          
    Automotive   $ 135,930     $ 44,985       202.2 %
    Home and Renters     11,298       9,821       15.0 %
    Other     227       899       -74.7 %
    Total Revenue   $ 147,455     $ 55,705       164.7 %
        Year Ended December 31,     Change  
        2024     2023     %  
        (in thousands)          
    Automotive   $ 446,095     $ 227,505       96.1 %
    Home and Renters     52,013       40,889       27.2 %
    Other     2,082       19,527       -89.3 %
    Total Revenue   $ 500,190     $ 287,921       73.7 %
                             
    Other financial and non-financial metrics:
        Three Months Ended
    December 31,
        Change  
        2024     2023     %  
        (in thousands)          
    Income (loss) from operations   $ 12,027     $ (6,762 )     -277.9 %
    Net income (loss)   $ 12,306     $ (6,348 )     -293.9 %
    Variable marketing dollars   $ 44,023     $ 20,668       113.0 %
    Adjusted EBITDA(1)   $ 18,916     $ (886 )   NM  
        Year Ended December 31,     Change  
        2024     2023     %  
        (in thousands)          
    Income (loss) from operations   $ 31,751     $ (51,975 )     -161.1 %
    Net income (loss)   $ 32,169     $ (51,287 )     -162.7 %
    Variable marketing dollars   $ 155,227     $ 100,282       54.8 %
    Adjusted EBITDA(1)   $ 58,215     $ 461     NM  
     
    (1 ) Adjusted EBITDA is a non-GAAP measure. Please see “EverQuote, Inc. Reconciliation of Non-GAAP Measures to GAAP” below for more information.
         

    To supplement the Company’s financial statements presented in accordance with GAAP and to provide investors with additional information regarding EverQuote’s financial results, the Company has presented Adjusted EBITDA as a non-GAAP financial measure. This non-GAAP financial measure is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similarly titled measures presented by other companies.

    The Company defines Adjusted EBITDA as net income (loss), excluding the impact of stock-based compensation expense; depreciation and amortization expense; restructuring and other charges; acquisition-related costs; interest income; and income taxes. The most directly comparable GAAP measure is net income (loss). The Company monitors and presents Adjusted EBITDA because it is a key measure used by management and the board of directors to understand and evaluate operating performance, to establish budgets and to develop operational goals for managing EverQuote’s business. In particular, the Company believes that excluding the impact of these items in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of EverQuote’s core operating performance.

    The Company uses Adjusted EBITDA to evaluate EverQuote’s operating performance and trends and make planning decisions. The Company believes that this non-GAAP financial measure helps identify underlying trends in EverQuote’s business that could otherwise be masked by the effect of the items that the Company excludes in the calculations of Adjusted EBITDA. Accordingly, the Company believes that this financial measure provides useful information to investors and others in understanding and evaluating EverQuote’s operating results, enhancing the overall understanding of the Company’s past performance and future prospects.

    The Company’s non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA rather than net income (loss), which is the most directly comparable financial measure calculated and presented in accordance with GAAP. In addition, other companies may use other measures to evaluate their performance, which could reduce the usefulness of the Company’s non-GAAP financial measures as tools for comparison.

    The following table reconciles Adjusted EBITDA to net income (loss), the most directly comparable financial measure calculated and presented in accordance with GAAP.

     
    EVERQUOTE, INC.
    RECONCILIATION OF NON-GAAP MEASURES TO GAAP
     
        Three Months Ended
    December 31,
        Year Ended December
    31,
     
        2024     2023     2024     2023  
        (in thousands)  
    Net income (loss)   $ 12,306     $ (6,348 )   $ 32,169     $ (51,287 )
    Stock-based compensation     5,310       4,813       20,614       22,808  
    Depreciation and amortization     1,555       1,075       5,672       6,196  
    Restructuring and other charges           (21 )           23,568  
    Acquisition-related costs                       (150 )
    Interest income     (683 )     (382 )     (2,079 )     (1,251 )
    Income taxes     428       (23 )     1,839       577  
    Adjusted EBITDA   $ 18,916     $ (886 )   $ 58,215     $ 461  

    The MIL Network

  • MIL-OSI Canada: Agritech projects, training will strengthen B.C. agriculture

    Source: Government of Canada regional news

    Rahul Singh, director, B.C. Centre for Agritech Innovation –

    “BCCAI proudly supports B.C.’s agriculture and agrifood sectors by advancing agritech innovation and its adoption. The launch of 19 new projects and nine training programs underscores the strong demand for innovation and training among farmers, growers, and small and medium-sized businesses. With support from the government and industry partners, BCCAI is committed to meeting this need.”

    Dugan O’Neil, vice-president, research and innovation, Simon Fraser University –

    “Simon Fraser University is proud to support British Columbia’s leadership in agritech through BCCAI. By fostering a thriving, sustainable agritech ecosystem, we’re supporting local agri-producers, empowering small and medium-sized businesses, and delivering benefits to consumers, all while driving economic growth. We greatly appreciate the government’s support for innovation and the partnerships that are advancing B.C.’s agriculture and food sector.”

    Gavin Schneider, CEO and co-founder, Maia Farms –

    “Maia Farms provides a smarter, climate-conscious way to nourish people and the planet. Our team has developed a process that transforms agricultural side streams into sustainable, high-protein and versatile food ingredients through mushroom biomass fermentation. With the generous support of BCCAI, Maia Farms was able to open the foundation Fungal Intelligence Lab in Vancouver, creating 10 full time jobs and paving the way for a new fungal food economy.”

    Gaby Wickstrom, chief operating officer, ‘Na̲mg̲is Business Development Corporation –

    “The ‘Na̲mg̲is Hydroponic Greenhouse Initiative is a vital step toward food security and sustainability for the ‘Na̲mg̲is First Nation and surrounding region. With BCCAI’s support, we’re enhancing local food production and creating new economic opportunities by providing communities and businesses with fresh, locally grown food year round.”

    Michael Williamson, CEO and founder, Cascadia Seaweed –

    “Institutional partnerships and government funding give Canadian companies a competitive edge, but more support is needed to drive innovation at scale. We look forward to continuing our work with BCCAI and partner universities to validate that our B.C.-grown, ocean-cultivated kelp can help Canadian farmers increase yields and reduce emissions.”

    Chi Ta, CEO, C&T Mushroom Farm Ltd. –

    “We are excited to partner with BCCAI on our automated worm farm technology. This initiative transforms organic waste into high-quality fertilizer, promoting sustainability and creating a circular ecosystem for local agriculture. By reusing organic waste, we minimize environmental impact and enhance soil quality. We are proud to contribute to a more resilient and sustainable future for British Columbians.”

    Raj Jampala, manager operations, AgriForest Bio-Technologies Ltd. –

    “Food security and agricultural innovation are critical for B.C. and Canada. With BCCAI’s support, AgriForest Bio-Technologies is developing advanced vertical growing systems using tissue culture and photoautotrophic micropropagation to meet market demands for high-quality berry and winegrape planting stock. This project will enhance local food production, strengthen the economy, and position B.C. as a leader in sustainable agri-tech.”

    Rodrigo Santana, CEO, BeriTech Inc. –

    “During the off-season, British Columbians are dependent on lower quality imported berries that are subject to substantial price fluctuations, are mostly produced using unsustainable farming practices and rely on high-carbon transport from distant production regions. Our BCCAI-funded project will provide B.C. consumers with local, premium off-season berries and help local farmers to extend their season, better utilizing labour and infrastructure.”

    Annett Rozek, chief scientific officer, Catalera BioSolutions –

    “Catalera BioSolutions and Terramera are extremely grateful to be recipients of support from BCCAI in pursuit of innovative agricultural technologies that benefit B.C., Canada and beyond. Together with BCCAI, Catalera is helping to make safe and effective biocontrol solutions the first choice for the future of agriculture.”

    Ravi Cheema, chief executive officer, Fresh4Sunset Farms Ltd. –

    “The funding from BCCAI will help our farm incorporate advanced technologies, sustainable practices and data-driven strategies for breeding good bugs to fight pests. I am excited to share our data with other greenhouse growers, enabling new entrants to make informed decisions, optimizing treatment plans and reducing pesticide use. By fostering collaboration between universities and private companies, we will facilitate the sharing of knowledge and resources throughout B.C. and beyond.”

    Joachim Knauf, CEO/president, ChamberTrust Management International Inc. (CTMI) –

    “ChamberTrust Management International Inc. appreciates its partnership with BCCAI for the CeV project that is focused on controlled environment agriculture, artificial intelligence and intellectual property protection. This includes the additional sector knowledge and industry contacts BCCAI brought to the table. CTMI has years of background with international business associations and it was a pleasure and very fruitful to partner with BCCAI.”

    Sukh Kahlon, director, Kahlon farms –

    “It has been great working with BCCAI. They were a great support in helping with our project to reduce the planting to harvest timeline for early season field strawberry production.”

    Ajay Potluri, president and CEO, GreenSmart Technologies –

    “GreenSmart is proud to announce the successful demonstration of Liquidseal, a pioneering edible solution that extends the shelf life of cranberries produced in British Columbia. Facilitated by the BCCAI in collaboration with BCIT and Oceanspray Ltd., this partnership advances innovative agritech solutions that extend the shelf life of fresh produce, reduce food waste, provides locally grown high‑quality food and greater access to distant export market opportunities – strengthening food security for British Columbians.”

    Mohamed Imam, senior researcher, Perkins and Will Canada Architects Co. –

    “Through our partnership with BCCAI, we are creating new ways of integrating urban agriculture into the built environment. This will benefit British Columbians by supporting local food production systems that strengthen food security and reduce environmental impact. This collaboration reflects our firm’s commitment to leveraging innovation and evidence-based design to create resilient cities and achieve our clients’ sustainability goals.”

    Rick Cox, president, Ocion Water Sciences Inc. –

    “As a leader in reducing environmentally stressful chemicals for use in agriculture, we are excited and grateful for the support from BCCAI and UBC. As a leader in water treatment, Ocion embraced the opportunity to work with industry experts to reduce greenhouse gas emissions, and to improve productivity and efficiency in the agritech sector. With these projects, we hope to position Canada as a leader, raising the bar for what can be accomplished in collaborative funded projects.”

    Kevin Kung, CTO, Takachar Limited –

    “This support made possible a first-of-a-kind pilot in the Okanagan area, turning hazardous, wildfire-prone residues into agricultural amendments. By operating this alongside our local community partner, we pushed the technology to its limits and learned tremendous lessons along the way.”

    Sean O’Connor, CEO, 4AG Robotics –

    “We are super excited to be partnering with BCCAI on this  project. As an ecosystem, we can build global leading companies here in British Columbia, while helping increase the quality and quantity of fresh cultivated food in the province. We are excited to be one of the projects selected to harness AI and robotics to improve the profitability and stability of B.C.-based mushrooms businesses.”

    Gary Jones, program manager, Industry Development, BC Greenhouse Growers’ Association –

    “Funding from BCCAI helped our grower members explore techniques for reducing waste and improving workplace efficiencies as they continue to provide fresh, nutritious and local greenhouse vegetables for our expanding population. Training opportunities like Lean 101 are important for our industry professionals to keep developing their skills and empowering their workforce.”

    Renee Prasad, department head, agriculture department, University of the Fraser Valley – 

    “Biological control is an important tool in the sustainable production of fruits and vegetables. This funding from BCCAI helps the UFV agriculture department connect with growers and answer their pressing questions in implementing sustainable production practices.”

    Eric Gerbrandt, research director, BC Blueberry Council, and the Raspberry Industry Development Council, and BC Strawberry Grower’s Association –

    “The B.C. berry sector’s sustainability will rely on adoption of superior berry varieties, with improved yield, quality, pest resistance and local climatic adaptation being developed by the BC Berry Breeding Program. A recent BCCAI workshop trained our stakeholders in testing, commercializing and marketing novel plant genetics, paving the way to a brighter future with better blueberry, raspberry and strawberry varieties.”

    Shannon Wagner, vice-president, research, Thompson Rivers University –

    “Thompson Rivers University is proud to be a contributor to increasing B.C.’s agricultural innovation with the support of BCCAI funding. Sharing innovative precision ranching methods will help improve outcomes for B.C.’s ranching communities and strengthen regional food security.”

    Jerry DuBovis, president, Pacific Regional Society for Soil Science (PRSSS) –

    “Through our collaboration with BCCAI, we have expanded our capacity to teach soil science skills to early-career professionals in B.C. The skills imparted through our workshops and seminars will greatly bolster B.C.’s ability to sustainably manage soil, an important resource for many sectors.”

    Stefania Pizzirani, associate director, Food and Agriculture Institute, and associate professor, department of planning, geography, and environmental studies, University of the Fraser Valley –

    “Across B.C., the agritechnology sector is progressing at an exciting and rapid rate. Our recent BCCAI-funded project focuses on developing four micro-credentials in collaboration with the University of the Fraser Valley, Royal Roads and BCCAI. These micro-credentials will help build up the skills needed to meet the emerging and expanding employment needs of B.C.’s dynamic agritechnology sector.”

    Paul Adams, Sherman Jen research chair in applied genomics, director of Applied Genomics Centre, Kwantlen Polytechnic University (KPU) –

    “The molecular biology workshop for agriculture, presented in partnership with BCCAI and KPU’s Applied Genomics Centre, offers a unique opportunity for industry professionals, government personnel, and university students to gain hands-on experience with qPCR and DNA extraction. This workshop equips participants with the knowledge and skills to apply molecular tools to real-world agricultural challenges.”

    Fred Popowich, scientific director, SFU’s Big Data Hub and professor of computing science, Simon Fraser University (SFU) –

    “We are proud to have partnered with the B.C. Centre for Agritech Innovation. In November, our collaboration provided essential training, equipping agritech professionals with the knowledge and skills to leverage AI and data science tools and techniques effectively. This partnership highlights our commitment to fostering innovation and sustainability in the agricultural sector.”

    Jason Ho, academic director, undergraduate programs, Beedie school of business, SFU at SFU’s Big Data Hub –

    “Collaboration with BCCAI and QuantoTech exemplifies the innovative spirit we strive to instill in our students – blending cutting-edge technology with a decentralized business model to ensure urban food stability. Their work highlights the vital intersection of innovation, social responsibility and global perspective, the three pillars of our program.”

    Jacob Beaton, owner, Tea Creek Training –

    “Tea Creek Training supports Indigenous Peoples and communities to revitalize their food sovereignty systems while utilizing Indigenous technologies. Tea Creek provides introductory skills training for Indigenous participants to enter meaningful employment and apprenticeships. BCCAI’s support is allowing us to build the necessary capacity required to support our Indigenous Foodland Employment Apprenticeship Skills Training (I-FEAST) that is being delivered to Indigenous communities across B.C.”

    MIL OSI Canada News

  • MIL-OSI United Nations: Nuclear weapons are ‘one-way road to annihilation’ warns Guterres

    Source: United Nations MIL OSI b

    Peace and Security

    UN Secretary-General António Guterres on Monday warned that the risk of nuclear conflict is rising – as global security arrangements unravel and military spending soars – urging governments to push for total disarmament.

    The nuclear option is not an option at all,” he said, addressing the UN Conference on Disarmament in Geneva.

    It is a one-way road to annihilation. We need to avoid this dead-end at all costs.”

    Arms race spreading to space

    Mr. Guterres warned delegates of heightened global security concerns, noting that trust between nations is crumbling, international law is being undermined and multilateral treaties are under strain.

    The so called “Doomsday Clock” – a metaphorical indicator of how close humanity is to destroying the world – moved one second closer to midnight last month, underscoring the growing peril.

    “Others are expanding their inventories of nuclear weapons and materials. Some continue to rattle the nuclear sabre as a means of coercion. We see signs of new arms races including in outer space,” Mr. Guterres said. 

    “And the weaponization of Artificial Intelligence is moving forward at an alarming pace.”

    Sign of hope

    Despite the grim picture, the Secretary-General highlighted the Pact for the Future adopted by world leaders at the General Assembly last September, as a sign of hope.

    It marked the first new international nuclear disarmament agreement in over a decade.

    Through the Pact, Member States also committed to revitalizing the role of the United Nations in disarmament,” he continued, calling also for holding accountable anyone who uses chemical or biological weapons.

    Alongside, he urged delegates to prevent an arms race in outer space through new negotiations, calling for the UN’s role in disarmament and global security to be strengthened.

    Humanity is counting on us to get this right. Let us keep working to deliver the safe, secure and peaceful world that every person needs and deserves,” Mr. Guterres said.

    The Conference on Disarmament

    The Conference on Disarmament (CD) is the world’s sole multilateral forum for negotiating arms control and disarmament agreements.

    Comprising 65 member states, including nuclear and militarily significant nations, the Conference has played a key role in shaping treaties such as the Nuclear Non-Proliferation Treaty (NPT) and the Comprehensive Nuclear-Test-Ban Treaty (CTBT).

    Its agenda includes nuclear disarmament, preventing an arms race in outer space, and addressing new weapons of mass destruction. Non-member States also attend its sessions, with 50 joining discussions in 2019, the highest in two decades.

    MIL OSI United Nations News

  • MIL-OSI: CORRECTION — Intchains Group Limited to Report Unaudited Fourth Quarter and Full Year 2024 Financial Results on Thursday, February 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, Feb. 24, 2025 (GLOBE NEWSWIRE) — Intchains Group Limited (Nasdaq: ICG) (“we,” or the “Company”), a provider of integrated solutions consisting of efficient mining products for altcoins, and on acquiring and holding ETH-based cryptocurrencies as its long-term asset reserve to support its Web3 industry development initiatives including actively developing Web3-based applications, today announced it will release its unaudited financial results for the fourth quarter and full year of 2024 ended December 31, 2024.

    Conference Call Information

    The Company’s management team will host an earnings conference call to discuss its financial results at 8:00 PM U.S. Eastern Time on February 27, 2025 (9:00 AM Beijing Time on February 28, 2025). Details for the conference call are as follows:

    All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of dial-in numbers and a personal access PIN, which will be used to join the conference call.

    Additionally, a live and archived webcast of the conference call will also be available at the Company’s website at https://intchains.com/.

    About Intchains Group Limited

    Intchains Group Limited is an innovative altcoins development company that primarily focuses on providing integrated solutions consisting of mining products for altcoins, and on acquiring and holding ETH-based cryptocurrencies as its long-term asset reserve to support its Web3 industry development initiatives including actively developing Web3-based applications. For more information, please visit the Company’s website at: https://intchains.com/.

    For investor and media inquiries, please contact:

    Intchains Group Limited

    Investor relations
    Email: ir@intchains.com

    Redhill

    Belinda Chan
    Tel: +852-9379-3045
    Email: belinda.chan@creativegp.com

    The MIL Network

  • MIL-OSI United Nations: Human Rights Council Opens Fifty-Eighth Regular Session and Holds Minute of Silence for Victims of Human Rights Violations

    Source: United Nations – Geneva

    The Human Rights Council this morning opened its fifty-eighth regular session, hearing statements from the President of the General Assembly, the United Nations Secretary-General, the United Nations High Commissioner for Human Rights, and the Head of the Federal Department of Foreign Affairs of Switzerland.  The President of the Council called for a minute of silence for victims of human rights violations around the world. 

    Jürg Lauber, President of the United Nations Human Rights Council, declared the fifty-eighth session of the Human Rights Council open, saying they were gathered at a time of profound global challenges and an alarming backlash against human rights around the world.  The Council’s responsibility was to make a tangible impact on people’s lives.  Victims of human rights violations needed to be at the centre of discussions.  The international community needed to rise to the challenge and reaffirm that human rights were not optional; they were essential for peace, security and development. 

    Philemon Yang, President of the General Assembly, said the three pillars of the United Nations were deeply interwoven.  Upholding human rights was fundamental to achieving lasting peace and security, and constituted a sound basis for the realisation of the 2030 Agenda for Sustainable Development.  The world faced serious global challenges and was witnessing a sharp decline in human rights, with growing violations and often brazen disregard for international humanitarian law.  The human suffering and destruction of civilian infrastructure in Gaza, Ukraine, Sudan, Haiti and the Democratic Republic of the Congo were intolerable; these injustices must end.  Mr. Yang said protecting human rights and dignity was a cornerstone of his role as President of the General Assembly. 

    António Guterres, United Nations Secretary-General, said the session was beginning under the weight of a grim milestone: the third anniversary of Russia’s invasion of Ukraine, in violation of the United Nations Charter.  Human rights were the oxygen of humanity.  But one by one, human rights were being suffocated: by autocrats; by a patriarchy that kept girls out of school, and women from basic rights; by wars and violence; by warmongers who disregarded international law and the United Nations Charter; by the climate crisis; by a morally bankrupt global financial system; by runaway technologies like artificial intelligence; by growing intolerance against entire groups; and by voices of division and anger.  This represented a direct threat to all the hard-won mechanisms and systems established over the last 80 years to protect and advance human rights. 

    Volker Türk, United Nations High Commissioner for Human Rights, said the international system was going through a tectonic shift, and the human rights edifice built up over decades had never been under so much strain.  Last year, the Office contributed to the release of some 3,145 arbitrarily detained people and took part in some 11,000 human rights monitoring missions.  It also observed nearly 1,000 trials, and documented some 15,000 situations of human rights violations around the world.  Mr. Türk said upholding human rights made eminent sense for stability, for prosperity, for a better common future, and was a winning proposition for humanity. 

    Ignazio Cassis, Head of the Federal Department of Foreign Affairs of Switzerland, said today, he had mixed feelings.  He was proud because Switzerland had been elected to the Human Rights Council and because Ambassador Lauber had been elected as the Council’s President, the first appointment of a Swiss President to the Council.  However, Mr. Cassis said, he was also deeply concerned as they lived in a time of global uncertainty, influenced by the climate crisis and global authoritarianism; a large portion of the global population lived under authoritarian rule. In this context, the Council had a duty to act. 

    The webcast of the Human Rights Council meetings can be found here.  All meeting summaries can be found here.  Documents and reports related to the Human Rights Council’s fifty-eighth regular session can be found here.

    The fifty-eighth session of the Council is being held from 24 February to 4 April.  At 10 a.m., the Council started its high-level segment.

    Opening Remarks by the President of the Council

    JÜRG LAUBER, President of the United Nations Human Rights Council, declared the fifty-eighth session of the Human Rights Council open.  They were gathered at a time of profound global challenges and an alarming backlash against human rights around the world.  All needed to reflect on whether they were doing enough to protect the most vulnerable.  When human rights weakened, conflicts escalated, and societies fractured. Today, they were seeing this play out in real time with the escalation of violations and the shrinking of human rights protections.  This required an urgent response.  The Council’s responsibility was to make a tangible impact on people’s lives. Victims of human rights violations needed to be at the centre of discussions.  Their dignity needed to be everyone’s priority, Mr. Lauber said.

    Mr. Lauber said all needed to rise to the challenge and reaffirm that human rights were not optional; they were essential for peace, security and development. They needed to engage in earnest discussions and ensure that their words translated into actions, he concluded.

    At the request of the President, the Council held a minute’s silence in memory of victims of human rights violations around the world.

    Statements by Keynote Speakers

    PHILEMON YANG, President of the General Assembly, congratulated the President of the Council and the Bureau on their election. The three pillars of the United Nations were deeply interwoven.  Upholding human rights was fundamental to achieving lasting peace and security, and constituted a sound basis for the realisation of the 2030 Agenda for Sustainable Development.  The world faced serious global challenges and was witnessing a sharp decline in human rights, with growing violations and often brazen disregard for international humanitarian law.  Those violations had devastating consequences: more than 300 million people now required humanitarian assistance.  In every conflict, the victims were often women, children and minorities who bore the heaviest burden.  The human suffering and destruction of civilian infrastructure in Gaza, Ukraine, Sudan, Haiti and the Democratic Republic of Congo were intolerable; these injustices must end.  Even war had rules.  Civilians must never be targets. 

    The recent special session and the establishment of an independent fact-finding mission to investigate and document violations in the eastern Democratic Republic of the Congo were good symbols.  The Council had demonstrated its availability to act swiftly and uphold accountability.  The recent ceasefire and hostage release deal in Gaza offered a glimmer of hope.  Just and lasting peace in the Middle East depended on the two State solution, which would allow Israel and Palestine to exist in peace and stability.  Dialogue was a powerful weapon which needed to be used for peace everywhere.  With the eightieth anniversary of the United Nations approaching, calls for global peace needed to be more resolute, harnessing the powerful symbolism of this milestone year.

    Last September, world leaders unanimously adopted the Pact for the Future, along with the Global Digital Compact and the Declaration for Future Generations.  The Pact charted a course toward a more just, equitable, and sustainable world, and reaffirmed international law, including the Charter of the United Nations, the Universal Declaration of Human Rights and international humanitarian law.  The challenge now was implementation which required full global mobilisation, with robust engagement from governments, United Nations agencies, and civil society.   Organizations in Geneva would play a critical role in this process.

    Mr. Yang said protecting human rights and dignity was a cornerstone of his role as President of the General Assembly.  Last month, he convened a signature event on preserving dignity in armed conflict.  He was encouraged by the strong political will of Member States to uphold and reinforce their commitment to international humanitarian law.  Advocacy would be continued to eliminate child labour in all forms, including in armed conflict, and a discussion on child labour would be held in this regard. 

    Additionally, in the coming months, a high-level meeting would be convened to consider the recommendations of the working group on aging, to ensure older persons had full enjoyment of their human rights.  The spirit that guided the decision of Member States last December to declare a second International Decade for People of African Descent would be upheld.  Mr. Yang said he would convene the annual commemorative meetings for the International Day for the Elimination of Racial Discrimination and the International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade.

    Mr. Yang said he had joined the gender champions network, pledging to promote gender equality and empowerment and implementing a gender perspective throughout the work of the General Assembly.  He had re-established the Advisory Board on Gender Equality to focus on women’s economic empowerment and was happy that the Human Rights Council had followed this good practice.  Additionally, co-facilitators had been appointed to lead consultations in preparation for a high-level meeting, which would commemorate the thirtieth anniversary of the Fourth World Conference on Women and the landmark Beijing Declaration and Platform for Action—Beijing+30.

    This year marked the thirtieth anniversary of the World Programme for Youth, underscoring the critical role of young people in driving sustainable development.  A discussion would be held in May on how digitalisation could enhance the Sustainable Development Goals.  Throughout these engagements, Mr. Yang said he would outline the importance of civil society’s work in enhancing human rights.  The annual high-level debate on crime prevention would be held, which would mark the ten-year anniversary of the Nelson Mandela Rules.  This year, the Nelson Mandela prize would also be awarded to two individuals who had dedicated their lives to serving humanity.  States and relevant stakeholders were invited to submit their nominations this month. 

    These topics aimed to promote human rights and preserve human dignity for all everywhere.  Strengthening cooperation between the General Assembly and the Human Rights Council had never been more urgent.  The shared goal of the two mechanisms was upholding human rights and dignity, for everyone, everywhere. 

    ANTÓNIO GUTERRES, United Nations Secretary-General, said the session was beginning under the weight of a grim milestone: the third anniversary of Russia’s invasion of Ukraine, in violation of the United Nations Charter.  More than 12,600 civilians had been killed, with many more injured.  Entire communities had been reduced to rubble, hospitals and schools destroyed.  All needed to spare no effort to bring an end to this conflict and achieve a just and lasting peace in line with the United Nations Charter, international law and General Assembly resolutions.  Conflicts like the war in Ukraine exacted a heavy toll on people; on fundamental principles like territorial integrity, sovereignty and the rule of law; and on the vital business of this Council.  Without respect for human rights — civil, cultural, economic, political and social — sustainable peace was a pipedream.

    Like the Council, human rights shone a light in the darkest places. Through its work, and the work of the High Commissioner’s Office around the world, the Council was supporting brave human rights defenders risking persecution, detention and even death.  It was working with governments, civil society and others to strengthen action on human rights.  And it was supporting investigations and accountability.  Five years ago, the United Nations launched its Call to Action for Human Rights, embedding human rights across the work of the United Nations around the world in close cooperation with partners.  Mr. Guterres said he would continue supporting this important work, and the High Commissioner’s Office, as the United Nations fought for human rights everywhere.

    Mr. Guterres said that human rights were the oxygen of humanity.  But one by one, human rights were being suffocated — by autocrats, crushing opposition because they feared what a truly empowered people would do; by a patriarchy that kept girls out of school, and women at arm’s length from basic rights; by wars and violence that stripped populations of their right to food, water and education; and by warmongers who thumbed their nose at international law, international humanitarian law and the United Nations Charter.

    Human rights were being suffocated by the climate crisis; by a morally bankrupt global financial system that too often obstructed the path to greater equality and sustainable development; by runaway technologies like artificial intelligence that held great promise, but also the ability to violate human rights at the touch of a button; by growing intolerance against entire groups — from indigenous peoples, to migrants and refugees, to the lesbian, gay, bisexual, transgender, queer and intersex plus community, to persons with disabilities; and by voices of division and anger who viewed human rights not as a boon to humanity, but as a barrier to the power, profit and control they sought.  In short, human rights were on the ropes and being pummelled hard.  This represented a direct threat to all the hard-won mechanisms and systems established over the last 80 years to protect and advance human rights.

    But as the recently adopted Pact for the Future reminded all, human rights were, in fact, a source of solutions.  The Pact provided a playbook on how the world could win the fight for human rights on several fronts.

    First, human rights through peace and peace through human rights. Conflicts inflicted human rights violations on a massive scale.  In the Occupied Palestinian Territory, violations of human rights had skyrocketed since the horrific Hamas attacks of October 7 and the intolerable levels of death and destruction in Gaza.  Mr. Guterres expressed grave concern about the rising violence in the occupied West Bank by Israeli settlers and other violations, as well as calls for annexation. The world was witnessing a precarious ceasefire.  The world needed to avoid at all costs a resumption of hostilities.  The people in Gaza had already suffered too much.  It was time for a permanent ceasefire, the dignified release of all remaining hostages, irreversible progress towards a two-State solution, an end to the occupation, and the establishment of an independent Palestinian State, with Gaza as an integral part.

    In Sudan, bloodshed, displacement and famine were engulfing the country. The warring parties needed to take immediate action to protect civilians, uphold human rights, cease hostilities and forge peace.  Domestic and international human rights monitoring and investigation mechanisms needed to be permitted to document what was happening on the ground.

    In the Democratic Republic of the Congo, the world was seeing a deadly whirlwind of violence and horrifying human rights abuses, amplified by the recent M23 offensive, supported by the Rwandan Defence Forces.  As more cities fell, the risk of a regional war rose.  It was time to silence the guns, time for diplomacy and dialogue.  The recent joint summit in Tanzania offered a way forward with a renewed call for an immediate ceasefire.  The sovereignty and territorial integrity of the Democratic Republic of the Congo needed to be respected.  The Congolese people deserved peace.

    Mr. Guterres called for a renewed regional dialogue in the Sahel to protect citizens from terrorism and systemic violations of human rights, and to create the conditions for sustainable development.

    In Myanmar, the situation had grown far worse in the four years since the military seized power and arbitrarily detained members of the democratically elected government.  The world needed greater cooperation to bring an end to the hostilities and forge a path towards an inclusive democratic transition and a return to civilian rule, allowing for the safe return of the Rohingya refugees.

    In Haiti, the world was seeing massive human rights violations, including more than a million people displaced, and children facing a horrific increase in sexual violence and recruitment into gangs.  Mr. Guterres said that in the coming days, he would put forward proposals to the United Nations Security Council for greater stability and security for the people of Haiti, namely through an effective United Nations assistance mechanism to support the Multilateral Security Support Mission, the national police and Haitian authorities.  A durable solution required a political process led and owned by the Haitian people that restored democratic institutions through elections. 

    The Pact for the Future called for peace processes and approaches rooted in the Universal Declaration of Human Rights, international law and the United Nations Charter.  It proposed specific actions to prioritise conflict prevention, mediation, resolution and peacebuilding.  It also included a commitment to tackle the root causes of conflict, which were so often enmeshed in denials of basic human needs and rights.

    Second, the Pact for the Future advanced human rights through development. The Sustainable Development Goals and human rights were fundamentally intertwined.  They represented real human needs: health, food, water, education, decent work and social protection.  With less than one-fifth of the Goals on track, the Pact called for a massive acceleration through a Sustainable Development Goal Stimulus, reforming the global financial architecture, and taking meaningful action for countries drowning in debt.  This needed to include focused action to conquer the most widespread human rights abuse in history: inequality for women and girls.  The Pact called for investing in battling all forms of discrimination and violence against women and girls, and ensuring their meaningful participation and leadership across all walks of life.

    Along with the Declaration on Future Generations, the Pact also called for supporting the rights and futures of young people through decent work, removing barriers for youth participation, and enhancing training.  The Global Digital Compact called on nations to champion young innovators, nurture entrepreneurial spirit, and equip the next generation with digital literacy and skills.

    Third, the Pact for the Future recognised that the rule of law and human rights went hand-in-hand.  The rule of law, when founded on human rights, was an essential pillar of protection. It shielded the most vulnerable. It was the first line of defence against crime and corruption.  It supported fair, just and inclusive economies and societies.  It held perpetrators of human rights atrocities to account.  It enabled civic space for people to make their voices heard, and for journalists to carry out their essential work, free from interference or threats.  It also reaffirmed the world’s commitment to equal access to justice, good governance, and transparent and accountable institutions.

    Fourth, the world needed to achieve human rights through climate action. Last year was the hottest on record, capping the hottest decade on record.  Rising heat, melting glaciers and hotter oceans were a recipe for disaster. Floods, droughts, deadly storms, hunger, mass displacement — the war on nature was also a war on human rights.  The world needed to choose a different path. Mr. Guterres said he saluted the many Member States who legally recognised the right to a healthy environment, and he called on all countries to do the same. 

    Governments needed to keep their promise to produce new, economy-wide national climate action plans this year, well ahead of the thirtieth Conference of the Parties in Brazil.  Those plans needed to limit the rise in global temperature to 1.5 degrees, including by accelerating the global energy transition.  The world also needed a surge in finance for climate action in developing countries, to adapt to global heating, slash emissions and accelerate the renewables revolution, which represented a massive economic opportunity. They needed to stand up to the misleading campaign of many in the fossil fuel industry and its enablers, who were aiding and abetting this madness, while also protecting and defending those on the front lines of climate justice.

    Fifth, the Pact promoted human rights through stronger, better governance of technology.  Mr. Guterres expressed deep concern about human rights being undermined as fast-moving technologies expanded into every aspect of everyone’s lives.  At its best, social media was a meeting ground for people to exchange ideas and spark respectful debate.  But it could also be an arena of fiery combat and blatant ignorance; a place where the poisons of misinformation, disinformation, racism, misogyny and hate speech were not only tolerated, but often encouraged.  Verbal violence online could easily spill into physical violence in real life.  Recent rollbacks on fact-checking and content moderation online were re-opening the floodgates to more hate, more threats, and more violence.  These rollbacks would lead to less free speech, not more, as people became increasingly fearful to engage on these platforms.  Meanwhile, the great promise of artificial intelligence was matched by limitless peril to undermine human autonomy, human identity, human control and human rights.

    In the face of these threats, the Global Digital Compact brought the world together to ensure that human rights were not sacrificed on the altar of technology. This included working with digital companies and policymakers to extend human rights to every corner of cyberspace, including a new focus on information integrity across digital platforms. Mr. Guterres said the Global Principles for Information Integrity that he launched last year would support and inform this work as all pushed for a more humane information ecosystem.

    The Global Digital Compact also included the first universal agreement on the governance of artificial intelligence that brought every country to the table and set commitments on capacity building, so all countries and people benefited from artificial intelligence’s potential — by investing in affordable internet, digital literacy, and infrastructure; by helping developing countries use artificial intelligence to grow small businesses, improve public services, and connect communities to new markets; and by placing human rights at the centre of artificial intelligence-driven systems. The Pact’s decisions to create an Independent International Scientific Panel on Artificial Intelligence and an ongoing global dialogue that ensured all countries had a voice in shaping its future were important steps forward.  All needed to implement them, Mr. Guterres said.

    Mr. Guterres said all could help end the suffocation of human rights by breathing life into the Pact for the Future and the work of this Council.  He called for the Council’s cooperation, saying that there was no time to lose.

    VOLKER TÜRK, United Nations High Commissioner for Human Rights, said the international system was going through a tectonic shift, and the human rights edifice built up over decades had never been under so much strain. Today marked the third anniversary of the full-scale Russian invasion of Ukraine.  Any sustainable peace must be anchored in the rights, needs and aspirations of the Ukrainian people, in accountability, and in the principles of the United Nations Charter and international law.  In Israel and the Occupied Palestinian Territory, where the suffering had been unbearable, Mr. Türk repeated his call for an independent investigation into grave violations of international law, committed by Israel in its attacks across Gaza, and by Hamas and other Palestinian armed groups. Any sustainable solution must be based on accountability, justice, the right to self-determination, and the human rights and dignity of both Israelis and Palestinians.  Any suggestion of forcing people from their land was completely unacceptable. 

    Beyond Ukraine and Gaza, conflicts and crises were tearing communities and societies apart, from Sudan to the Democratic Republic of the Congo, Haiti, Myanmar and Afghanistan.  Social tensions were rising; the richest one per cent controlled more wealth than most of humanity; and the climate crisis was a human rights catastrophe.  Digital technologies were widely misused to suppress, limit and violate rights, with artificial intelligence bringing new speed and scale.  This was the backdrop against which the Office and the broader human rights ecosystem, including the Council, were working to safeguard and promote the rights of everyone, everywhere. 

    Last year, the Office contributed to the release of some 3,145 arbitrarily detained people and took part in some 11,000 human rights monitoring missions; observed nearly 1,000 trials, and documented some 15,000 situations of human rights violations around the world.  In addition to daily interventions with governments, the team issued about 245 statements, shining a light on human rights concerns in some 130 countries.  Teams on the ground contributed to human rights-based approaches to sustainable development, taxation and public spending, from Cambodia to Jordan and Serbia. Mr. Türk called on the international community to ensure the Office, national human rights institutions, and human rights non-governmental organizations could continue their essential work. 

    Since the adoption of the Universal Declaration of Human Rights, despite setbacks, there had been steady progress, but today this could no longer be taken for granted.  The global consensus on human rights was crumbling under the weight of authoritarians, strongmen and oligarchs, with autocrats now controlling around one-third of the world’s economy, more than double the proportion 30 years ago. 

    Everywhere, there were attempts to ignore, undermine, and redefine human rights, to chip away at gender equality and the rights of migrants, refugees, people with disabilities, and other minorities. 

    There needed to be an all-out effort by everyone, to make sure that human rights and the rule of law remained foundational to communities, societies and international relations.  Otherwise, the picture was very dangerous.  In previous centuries, the unrestrained use of force by the powerful, indiscriminate attacks on civilians, population transfers, and child labour were commonplace.  Dictators could order atrocity crimes consigning vast numbers of people to their deaths.  This could happen again.  But the world was far from powerless to prevent it.  The tools were the United Nations Charter, the Universal Declaration of Human Rights; the body of international law; and the institutions that worked to implement them.

    Today, there needed to be an alternative vision, rooted in facts, the law and compassion.  Human rights were about facts.  That was why the Office was monitoring, documenting, and reporting on violations and abuses in war zones and crises around the world, including Ukraine, the Occupied Palestinian Territory, the Democratic Republic of the Congo, Myanmar, Sudan, Syria, Afghanistan and Haiti.  Facts on their own could and must prompt action, which was why the work of the Council, and the other human rights mechanisms, was so important.  International legal frameworks and institutions, including the International Criminal Court, were fundamental to ensuring justice and achieving accountability, preventing future violations, and making the world safer for everyone. It was also important to have strong institutions at the national level to protect vulnerable people.

    Finally, human rights were nothing without compassion, going beyond thought leadership, to heart leadership.  Human rights had been central to movements for equality and justice throughout history and had the universal power to move people to action. In countries where human rights were not widely respected, people would risk their lives to defend them.  Mr. Türk paid tribute to brave human rights activists everywhere.  Upholding human rights made eminent sense for stability, for prosperity, for a better common future, and was a winning proposition for humanity. 

    IGNACIO CASSIS, Chief of the Federal Department of Foreign Affairs of Switzerland, said today, he had mixed feelings — a sense of pride and deep worry.  He said he was proud because Switzerland had been elected to the Human Rights Council and because Ambassador Lauber had been elected as the Council’s President, the first appointment of a Swiss President to the Council.

    However, Mr. Cassis said, he was also deeply concerned as they lived in a time of global uncertainty, influenced by the climate crisis and global authoritarianism — a large portion of the global population lived under authoritarian rule.  In this context, the Council had a duty to act.

    Last year was marked by major elections.  More than four billion citizens, half of the world’s population, went to the ballot box.  This was a test for global democracy, and the result of these elections was deep unease. Young people were becoming more radical and social networks were exposing all to unfiltered hatred. Globalisation had reduced poverty but had led to deindustrialisation.  Identity claims had taken on a scale that was destabilising societies.  Social networks and the climate crisis were fuelling a sense of chaos and distrust in governments.

    Human rights were a fundamental bedrock on which all could stabilise societies. Rights to free and transparent elections, the right to work and the right to a sustainable environment were all very important, but the challenges to these and all rights were growing. Today, the world marked the third anniversary of the war in Ukraine.  There was also conflict in the Middle East, instability in southern Africa and war in sub-Saharan Africa.  It was more necessary than ever before to focus efforts on fundamental rights, including the right to education, ownership and the total prohibition of torture and slavery.  The Human Rights Council needed to act in a united manner and with determination. Concerted action was needed to guarantee peace and stability.  This was something the Swiss Presidency could achieve.

    Human rights were not a luxury but a necessity.  Switzerland was concerned by the decisions of some Member States to withdraw from the Council.  Every member of the United Nations needed to shoulder their responsibilities toward human rights.  Mr. Cassis expressed his full support for Ambassador Lauber, whose experience inside and outside the United Nations system would serve him well.

    Switzerland would also endeavour to uphold international humanitarian law and human rights as pillars of peace and security, as a member of the United Nations Security Council.  The state of the world was a reminder that Switzerland’s mission was far from complete. Mr. Cassis closed by wishing the Council fruitful discussions.

    __________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    HRC25.004E

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: CENTRE FOR UN PEACEKEEPING HOSTS ‘CONFERENCE ON WOMEN PEACEKEEPERS FROM GLOBAL SOUTH’ AT MANEKSHAW CENTRE IN NEW DELHI

    Source: Government of India (2)

    Posted On: 24 FEB 2025 5:01PM by PIB Delhi

    Indian Army, through the Centre for United Nations Peacekeeping (CUNPK), India, is hosting a two-day conference titled ‘Conference on Women Peacekeepers from the Global South’ at the Manekshaw Centre, New Delhi, on 24-25 February 2025. This conference, being organised by the Ministry of External Affairs in collaboration with the Ministry of Defence, has brought together women peacekeepers from 35 nations to explore the evolving role of women in peacekeeping operations and discuss strategies to enhance their participation in these crucial missions.

    The conference aims to strengthen the role of women in UN peacekeeping by fostering dialogue, sharing experiences, and improving collaboration among the nations of the Global South.

    On the inaugural day, the participants had the honour of calling on Smt Draupadi Murmu, the Hon’ble President of India, at Rashtrapati Bhawan. This was followed by a keynote address by Shri S Jaishankar, External Affairs Minister.

    In his opening remarks, Lt Gen NS Raja Subramani, Vice Chief of Army Staff (VCOAS), expressed deep appreciation for the women peacekeepers’ exceptional service and commitment to global peace and security. He said, “the Women Peacekeepers have broken the stereotypes, shattered barriers, and rose above challenges to become leaders and protectors of their nation and also in the communities, where they have been engaged in for peacekeeping”. He further said that, “As a key partner in Global South, India brings forth a wealth of experience, resources and expertise to the table, contributing to the collective effort of developing nations”, adding, “We, as representatives of Global South, stand together in strength, resilience and unwavering commitment to global peace”.

    In his address, Lt Gen Rakesh Kapoor, Deputy Chief of Army Staff (IS&C), highlighted that International Humanitarian Law is facing a lot of challenges, making task of peacekeepers ever more challenging. He also acknowledged that Women Peacekeepers with their presence, are the role models of women empowerment and encourage women of host nation to contribute towards upliftment of their society.

    On the inaugural day of the conference, following sessions were conducted:

    • Session 1- Addressing Sexual Exploitation and Abuse: This session was moderated by Mr Christian Saunders, UN Special Coordinator, with participation by Maj Radhika Sen, UN Military Gender Advocate of the Year 2023, Maj Hind Jirari (Morocco) and Col Simone PC Antunes (Brazil). The session focused on mechanisms for preventing, reporting, and addressing cases of sexual exploitation and abuse in peacekeeping environments. Participants explored best practices, accountability measures, and the role of leadership in promoting a culture of zero tolerance for misconduct.

     

    • Session 2- Technology in Peacekeeping: Can We Do Better?: The second session was moderated by Ms Debjani Ghosh, Distinguished Fellow,  Niti Aayog and Former President NASSCOM. Lt Gen Sadhna Nair, DGMS (Army) and Brig Munesh Tamang, Former Sector Commander, UNMISS were the distinguished participants in the session. As technology continues to transform peacekeeping, this session examined how tools such as surveillance drones, AI-powered data analysis, and real-time communication systems can improve operational effectiveness and enhance mission capabilities. Experts discussed the challenges of integrating technology into peacekeeping and how nations in the Global South can leverage these advancements to strengthen their security efforts.

    Shri Sanjay Seth, Hon’ble Raksha Rajya Mantri, will attend the final day of the conference. The concluding sessions will cover the following topics:

    • Session 3 – Role of Women Peacekeepers. The Session will witness participation by Dr Kiran Bedi, IPS (Retd), Former Lt Governor, Puducherry, Lt Col Neha Khajuria, Pol CUPNK, Lt Col Ayishetu Sandow (Ghana) and Lt Col Sulochana Poudel (Nepal).

     

    • Session 4 – Opportunities for Collaboration in Training and Capacity Building in the Global South. The speakers for this session would include, Lt Gen MP Singh, Director General Staff Duties, Col Samar Raghav, Centre for UN Peacekeeping, Col Phoung Thi Minh Nyugen (Vietnam) and Col Dilya Akhmetova (Kazakhstan).

     

    • Session 5 – Promoting Regional Cooperation in Peacekeeping: The Global South Context. The concluding session will witness participation by Mr Jean-Pierre Lacroix, USG DPO, Mr Tshering W Sherpa, JS (UNP), MEA, Brig Joyce C Sitienei (Kenya) and Ms Alesi Dau (Fiji).

    This conference reaffirms India’s leadership in promoting inclusive and effective peacekeeping operations, underscoring the nation’s commitment to gender equality and the vital role women play in global security and peace efforts. Through collaborative discussions and actionable strategies, the conference will enhance the understanding of the role of women peacekeepers and increase their impact on future missions.

    _____________________________________________________________

    SC

    (Release ID: 2105783) Visitor Counter : 36

    MIL OSI Asia Pacific News

  • MIL-OSI USA: DLNR News Release- Exploring our Wildfire Future is Theme of 2025 Hawai’i Wildfire Summit, Feb. 24, 2025

    Source: US State of Hawaii

    DLNR News Release- Exploring our Wildfire Future is Theme of 2025 Hawai’i Wildfire Summit, Feb. 24, 2025

    Posted on Feb 24, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF LAND AND NATURAL RESOURCES

     

    JOSH GREEN, M.D.
    GOVERNOR

     

    DAWN CHANG
    CHAIRPERSON

     

     

    EXPLORING OUR WILDFIRE FUTURE IS THEME OF 2025 HAWAI‘I WILDFIRE SUMMIT

    FOR IMMEDIATE RELEASE

    February 24, 2024

    HONOLULU — Wildfire experts, community leaders, emergency responders and policymakers will gather together for the 2025 Hawai‘i Wildfire Summit, Feb. 27-28 in Kona on Hawai‘i Island. They’ll share insights and tackle challenges aimed at building a stronger, more wildfire resilient Hawai‘i.

    Organized and hosted by the Hawai‘i Wildfire Management Organization (HWMO) and supported by the DLNR Division of Forestry and Wildlife (DOFAW), the National Park Service (NPS), the Hawai‘i County Civil Defense Agency, U.S. Army Fire, the Western Fire Leadership Council, and all four county fire departments, the summit hopes to “ignite action.”

    Elizabeth Pickett, co-executive director of HWMO said, “On the first day we have a series of expert panels and interactive sessions. Our focus will be on wildfire resilience, lessons from recent fires, and innovations in wildfire safety and planning.

    The first day of the summit includes the following panels:

    • Keynote Panel: Lessons from Lahaina
    • Why the Built Environment Matters
    • Firewise Communities in Action
    • Fire Weather, Technology and Notifications
    • Policy Updates and Next Steps

    On the second day participants can chose from two pathways.

    Key sessions for Pathway 1:

    • Understanding Wildfire Risk from Local to National
    • Wildfire Resilient Land Management Strategis
    • Our Wildfire Funding and Policy Context
    • Wildfire Advocacy, Communications and Media Engagement

    Key sessions for Pathway 2:

    • Fire Weather and Fuel Monitoring
    • WIldfire Pre-Attack Plans
    • Incident Management Best Practices
    • Codes and Standards

    Pickett added that the summit is an opportunity to gain insights from leading professionals in wildfire resilience and management and to build connections with peers, policymakers, and advocates.

    “Across the state, we need to face our increasing wildfire risks together and for the long term. We hope to ignite action by having everyone leave the summit committed and connected to each other, and with actionable knowledge, tools and resources to strengthen wildfire preparedness.” Pickett said.

    One day before the summit (Feb.26) and one day after (March 1), HWMO is offering Home Ignition Zone Assessment and Mitigation (HIZAM) workshops, which is hands-on training for wildfire risk potential and mitigation measures.

    Media coverage is welcome.

     

    # # # 

     

    RESOURCES 

    (All images/video courtesy: DLNR) 

     

    2025 Hawai‘i Wildfire Summit and Home Ignition Zone Assessment and Mitigation workshop:

    FAQs: attached

     

    Media Contact: 

    Dan Dennison

    Communications Director

    808-587-0396

    Email: Dlnr.comms@hawaii.gov

    MIL OSI USA News

  • MIL-OSI USA: NEWS RELEASE: DLIR HOSTS JOB FAIR FOR FEDERAL WORKERS AND CONTRACTORS

    Source: US State of Hawaii

    NEWS RELEASE: DLIR HOSTS JOB FAIR FOR FEDERAL WORKERS AND CONTRACTORS

    Posted on Feb 24, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF LABOR AND INDUSTRIAL RELATIONS

    KA ʻOIHANA PONO LIMAHANA

     

    JOSH GREEN, M.D.

    GOVERNOR

    KE KIAʻĀINA

    JADE T. BUTAY

    DIRECTOR

    KA LUNA HOʻOKELE

    DLIR HOSTS JOB FAIR FOR FEDERAL WORKERS AND CONTRACTORS

     

    FOR IMMEDIATE RELEASE

    February 24, 2025

     

    HONOLULU — The Hawaiʻi State Department of Labor and Industrial Relations (DLIR) is hosting a hiring fair on Friday, Feb. 28, 2025, aimed at addressing the state’s labor shortages and supporting workers affected by federal layoffs, resignations and other employment transitions.

    “We invite individuals impacted by recent federal policy changes to explore career opportunities within our department or consider other state positions,” said DLIR Director Jade T. Butay. “We have immediate openings and an expedited hiring process for those interested in continuing their careers in public service.”

    “We value the experience and dedication of federal workers,” said Department of Human Resources Development Director Brenna H. Hashimoto. “We are eager to welcome those impacted by the changes at the federal level to our workforces, as we believe they will make an immediate, positive impact.”

    Attendees will have the chance to explore open positions within DLIR’s divisions, meet with hiring managers, participate in on-the-spot interviews, and receive support with job-matching and applications for DLIR.

    The event, “Operation Hire Hawaiʻi: A Workforce Transition Initiative,” will be from 11 a.m. to 1 p.m., at 830 Punchbowl St., Rooms 310, 313 and 314, in Honolulu.

    # # #

    Equal Opportunity Employer/Program
    Auxiliary aids and services are available upon request to individuals with disabilities.
    TDD/TTY Dial 711 then ask for 808-586-8842

    View DLIR news releases:

    http://labor.hawaii.gov/blog/category/news/

    Media Contact:

    Chavonnie Ramos

    Public Information Officer

    Department of Labor and Industrial Relations

    Phone: 808-586-9720

    Email: [email protected]

    Website: http://labor.hawaii.gov

     

    MIL OSI USA News

  • MIL-OSI USA: DLNR News Release – HAWAIʻI ISLAND 2025 SPRING BEARDED TURKEY SEASON, Feb. 21, 2025

    Source: US State of Hawaii

    DLNR News Release – HAWAIʻI ISLAND 2025 SPRING BEARDED TURKEY SEASON, Feb. 21, 2025

    Posted on Feb 21, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF LAND AND NATURAL RESOURCES

    KA ʻOIHANA KUMUWAIWAI ‘ĀINA

     

     

         JOSH GREEN, M.D.
    GOVERNOR

     

    DAWN CHANG
    CHAIRPERSON

     

    HAWAIʻI ISLAND 2025 SPRING BEARDED TURKEY SEASON

     

    FOR IMMEDIATE RELEASE

    Feb. 21, 2025

     

    Hilo, Hawaiʻi – The 2025 Spring Bearded Turkey Hunting Season opens on Saturday, March 1 and will run for 46 consecutive days through Tuesday, April 15, 2025. The spring season will be for bearded turkeys only in locations identified below.

     

     

    Open Turkey Hunting Areas Special Conditions Season Dates Hunting Hours
    Unit A – Mauna Kea Forest Reserve and GMA Mammal hunting with rifle, muzzle- loader, handgun, and shotgun is limited to above treeline during spring turkey season. Archery hunting is allowed below treeline with blaze orange garment.  

     

     

     

     

    March 1 – April 15, 2025

    (46 consecutive days)

     

     

     

     

     

     

     

     

     

     

     

     

    One-half hour before sunrise to one-half hour after sunset
    Unit C – Upper Pīhā and Upper Laupāhoehoe Forest Reserves NA
    Unit F – Pu‘u Waawaa Forest Reserve All gates must be closed. Paddocks where cattle are present will be closed to hunting.
    Unit G – Ka‘ohe GMA Also open daily to mammal hunting for archery.
    Private Lands Hunters required to have valid hunting license, current turkey tags and landowner permission.
    Unit E – Kīpuka Ainahou Nēnē 

    Sanctuary

    Archery only March 1 – March 31, 2025

    (31 consecutive days)

     

     

    Bag Limits and Tags

     

    The daily bag limit will be three bearded turkeys per hunter, with a season bag limit of three. All hunters must have a current unused turkey tag in their possession while hunting. Tags are currently $5 per tag for residents and $20 per tag for nonresidents. Turkey tags are nontransferable. Traditional tags must be fastened with snaps, and printed tags must be placed in a sealable plastic bag and secured tightly around the neck or leg of any bird taken immediately after the kill. Tags may be purchased in person at the Hilo Division of Forestry and Wildlife (DOFAW) office or online.

     

    # # #

     

    RESOURCES

    (All images/video courtesy: DLNR)

     

    Hunting information: http://dlnr.hawaii.gov/recreation/hunting

     

    Gamebird hunting information and rules: https://dlnr.hawaii.gov/recreation/hunting/bird/

     

    Purchase turkey tags: https://gohunthawaii.ehawaii.gov/public/tags

     

    Photograph – attached

     

    For more information, contact DOFAW at:

     

    Hilo: 808-974-4221

    Waimea: 808-887-6063

    Main office (Oʻahu): 808-587-0166

     

     

    Media Contact: 

    Ryan Aguilar

    Communications Specialist

    Hawaiʻi Dept. of Land and Natural Resources

    Communications Office: 808-587-0396

    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI USA: DCCA NEWS RELEASE: IOLANI SCHOOL WINS THE 2025 HAWAIʻI LIFESMARTS STATE COMPETITION

    Source: US State of Hawaii

    DCCA NEWS RELEASE: IOLANI SCHOOL WINS THE 2025 HAWAIʻI LIFESMARTS STATE COMPETITION

    Posted on Feb 21, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS

    KA ʻOIHANA PILI KĀLEPA

    BUSINESS REGISTRATION DIVISION

     

    JOSH GREEN, M.D.

    GOVERNOR

    KE KIAʻĀINA

     

    NADINE Y. ANDO

    DIRECTOR

    KA LUNA HOʻOKELE

    TY Y. NOHARA

    COMMISSIONER OF SECURITIES

    IOLANI SCHOOL WINS THE 2025 HAWAIʻI LIFESMARTS STATE COMPETITION

     

    FOR IMMEDIATE RELEASE

    February 21, 2025

    HONOLULU — The state Department of Commerce and Consumer Affairs (DCCA) Business Registration Division and Insurance Division, and Hawaiʻi Credit Union League (HCUL) announces that the team from Iolani School today won the annual Hawaiʻi LifeSmarts State Competition at the Neal S. Blaisdell Center in Honolulu.

    The competition tests students on their knowledge of personal finance, health and safety, the environment, technology, and consumer rights and responsibilities. Following the preliminary online portion of the competition, top scoring teams from Kalani, Iolani and Waipahu High Schools were invited to compete in today’s in-person competition, where they tested their skills through a “speed smarts” activity, and game show-style buzzer rounds.

    Iolani School will go on to represent Hawaiʻi at the National LifeSmarts Competition in Chicago, Illinois from April 24 – 27, 2025. Members of the team are: Kevin Fleming (team captain), Jeremy Choi, Cade McDevitt, Tyler Hijirida, and Ryan Chan.  The team was coached by Kit U Wong.

    “Congratulations to Iolani School as it advances to the National Competition in Chicago,” said Department of Commerce and Consumer Affairs Director Nadine Ando. “The LifeSmarts program teaches our students practical, real-life skills that they will need as they enter adulthood, and we are proud to be a sponsor of this statewide program. Thank you to our staff, volunteers, and community partners for their generous contributions towards another successful year of Hawaiʻi LifeSmarts.”

    2025 Hawaiʻi State Competition Community Supporters include:

     

    • Aloha Pacific Federal Credit Union
    • Amazon Web Services
    • Better Business Bureau
    • Big Island Federal Credit Union
    • Cisco
    • Coastal Construction Co., Inc.
    • eWorld Enterprise Solutions, Inc., Google Cloud
    • Farmers Hawaiʻi
    • Hawaiʻi Community Federal Credit Union
    • Hawaiʻi Credit Union League
    • Hawaii Government Employees Association (HGEA)
    • Hawaiʻi Information Service
    • Hawaiʻi State Federal Credit Union
    • HawaiiUSA Federal Credit Union Foundation
    • Hawaiʻi Medical Service Association (HMSA)
    • International Brotherhood of Electrical Workers (IBEW), Local 1186
    • Laborers-Employers Cooperation and Education Trust (LECET)
    • Outrigger Resorts & Hotels
    • Pacxa
    • Pasha Group and Pasha Hawaiʻi
    • Pearl Hawaiʻi Federal Credit Union
    • Schofield Federal Credit Union
    • SHI International Corp.
    • University of Hawaiʻi at Mānoa Shidler College of Business, Pacific Asian Center for Entrepreneurship (PACE)
    • Walmart

     

    Visit www.LifeSmartsHawaii.com for more information.

    LINK: PHOTOS AND B-ROLL

    LifeSmarts is a national consumer education program that prepares students to enter the real world as smart consumers by teaching them the skills needed to succeed in today’s global marketplace. The program is run by the National Consumers League and sponsored locally by the DCCA Business Registration Division and Insurance Division, in partnership with the Hawaiʻi Credit Union League.

    ###

    Media Contact:

    Communications Office
    Department of Commerce and Consumer Affairs

    Phone: 808-586-2760
    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI USA: DLNR News Release-Voyaging Canoe Lost in Lahaina Wildfires Being Replaced, Feb. 21, 2025

    Source: US State of Hawaii

    DLNR News Release-Voyaging Canoe Lost in Lahaina Wildfires Being Replaced, Feb. 21, 2025

    Posted on Feb 21, 2025 in Newsroom

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF LAND AND NATURAL RESOURCES

    KA ‘OIHANA KUMUWAIWAI ‘ĀINA

     

         JOSH GREEN, M.D.
    GOVERNOR

     

    DAWN CHANG
    CHAIRPERSON

     

     

    VOYAGING CANOE LOST IN LAHAINA WILDFIRES BEING REPLACED

    Donations Came From Around the State

     

    FOR IMMEDIATE RELEASE    

    Feb. 21, 2025

     

    KAHULUI, Maui — A trucker, a shipping company, a canoe builder, and the DLNR are helping Hui O Wa‘a Kaulua replace a voyaging canoe that burned in the Lahaina wildfires.

     

    The Mo‘olele was birthed 50 years ago and was in a park along the ocean, at 525 Front Street, when it burned. Timothy ‘Timi’ Gilliom is a captain and the builder of the Mo‘okiha O Pi‘ilani and the new canoe that’s replacing the Mo‘olele, the Nāleilehua.

     

    He’d been working in Lahaina on August 8, 2023, and had gone to the boat hale where the Mo‘olele was being restored. As he was evacuating the burning town he looked back and recalls, “When I looked at Mo‘olele, I knew I’d never see her again. And she was already finished, ready to go.”

     

    Gilliom said it was a devastating blow. Building Polynesian canoes is a laborious, painstaking and expensive process. It’s rich in Hawaiian tradition, which explains the kōkua his group received through a series of connections and donations.

     

    Tons of koa, land and ocean shipping and fiberglass hulls – all donated – has Gilliom and his crew of three working to try and have Nāleilehua finished this year.

     

    “Mo‘olele was 42 feet. This (Nāleilehua) is 44 feet, a little longer, same crab claw sail, same parts, and everything. And we moved from Lahaina (to Kahului) which is where our nonprofit was. It’s called Hui O Wa‘a Kaulua, the group of the double hull canoes,” Gilliom explained.

     

    He said they didn’t know if they would be able to use koa for the new canoe, because it was hard to get. “Then we got ahold of David Tsuchiya (Kaua‘i Branch District Superintendent for the DLNR Division of State Parks-DSP) and he ended up sending us a container load. So, we got a lot of koa now. It was 22,000 pounds,” Gilliom commented.

     

    Some of the koa was salvaged from tree fall from lessees, but most of it was collected in Koke‘e State Park when it falls across roadways and other common areas of the park. It is stored for potential future public auction, which has happened in the past. DSP Administrator Curt Cottlrell said, “There was no question that State Parks preferred to donate this koa for Nāleilehua.”

      

    From Koke‘e, trucker Timmy Lopez, drove the long shipping container to the harbor, where Pasha-Hawai‘i loaded it onto a container ship for the voyage to Maui.

     

    “The trucking was free…the shipping was at the discounted employee rate. The koa that we have is heavy koa. So, it’s older koa,” Gilliom said. “It was overwhelming,” he added.

     

    “My actual genealogy is from Pi‘ilani, from that area where Mo‘olele lived before,” remarked Makaio Lorenzo as he sawed and cut fiberglass hatch covers. He describes Nāleilehua as, “Kind of riding the line, right in the middle. So, functions as traditional, looks very traditional, but we have more modernized stuff, like hatch covers for our storage. I’m sure back then our kūpuna had something like storage containers, but it’s just the cleaner, more modernized way of doing it.”

     

    But, it’s the sense of tradition and ancestry that has Lorenzo all in, “100%” he says. “I get to be what Timi was to Mo‘olele, to this canoe now. And it doesn’t stop with Timi and Mo‘olele. It goes further with his teachers, Uncle Leon, and it’s continuing that genealogy through our canoes.”

     

    Lorenzo looks forward to sailing on the Nāleilehua. One day he’d like to be its captain. “I dream about it every single night and I just keep thinking about her. I have no idea what’s going to happen. I don’t know if I’m going to cry. I don’t know if I’m going to just stand there and be like, good job. No idea,” Lorenzo concluded.

     

    # # #

     

         RESOURCES

    (All images/video courtesy: DLNR)

     

    HD video – A New Wa‘a for Lahaina (web feature):

    https://www.dropbox.com/scl/fi/52ldhm7ucwf2fog160z2f/A-New-Wa-a-for-Lahaina.mov?rlkey=i4om3yjk4ncjixcz5aiuvxyrz&st=zdmffla8&dl=0

     

    HD video – New wa‘a for Lahaina media clips (Feb. 19, 2025)

    https://www.dropbox.com/scl/fi/a2yqbwx2852oz5x7bb942/New-Wa-a-for-Lahaina-media-clips-Feb.-19-2025.mov?rlkey=j6zf39npth3pvopjjpn9xrech&st=pwcuoh9e&dl=0

    (Shot sheet/transcriptions attached)

     

    Photographs – New wa‘a for Lahaina (Feb. 19, 2025):

    https://www.dropbox.com/scl/fo/iacc0ic3vexhs5zvffdka/ABYFZYpXQ_ihpxQqboKDVqs?rlkey=7ripzvh88hclphdlito6kbr4u&st=pdlv7w8k&dl=0

     

     

    Media Contact: 

    Dan Dennison

    Communications Director

    Hawaiʻi Dept. of Land and Natural Resources

    808-587-0396

    Dlnr.comms@hawaii.gov

     

     

    MIL OSI USA News

  • MIL-OSI Europe: Answer to a written question – Ensuring EU competitiveness in pharmaceutical innovation – E-002808/2024(ASW)

    Source: European Parliament

    1. The Draghi report recognises the merits of the EU pharmaceutical reform[1] as it envisages a ‘modern and simplified regulatory framework with faster authorisation of new medicines[2]. The report highlights elements such as simplification of the framework, speed of procedures, enabling the use of digitalisation and Artificial Intelligence, a conducive Research & Development (R&D) investment environment. The proposed reform will reduce administrative burden for medicine developers and authorities and make the framework simpler and future-proof. The reform also proposes increasing the speed and efficiency of the processes while maintaining high standards for quality and safety of medicines in the EU.

    2. The Commission fully shares the Draghi report’s finding in relation to the intellectual property in the pharmaceutical sector. The report points out that ‘given the long development times of medicines, stability in the incentives offered by this framework is needed. At the same time, pharmaceutical markets are dynamic, driven by scientific developments. Their competitive functioning evolves in parallel, implying that future changes to this framework are likely.’ The Commission is following the discussions in the European Parliament and the Council, which will facilitate the agreement in this spirit. The future pharmaceutical legislation should support the creation of a new European health industry that is globally competitive and puts patients always in the centre.

    • [1] https://health.ec.europa.eu/medicinal-products/pharmaceutical-strategy-europe/reform-eu-pharmaceutical-legislation_en
    • [2] The future of European competitiveness, In-depth analysis and recommendations (Sept. 2024), pg. 195.
    Last updated: 24 February 2025

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation, Shri Amit Shah interacts with 250 children from Jammu and Kashmir under ‘Watan Ko Jano’ programme in New Delhi

    Source: Government of India

    Union Home Minister and Minister of Cooperation, Shri Amit Shah interacts with 250 children from Jammu and Kashmir under ‘Watan Ko Jano’ programme in New Delhi

    The main objective of the ‘Watan Ko Jano’ programme is to familiarize the youth of J&K with the social and cultural diversities of the country and to bring about an emotional connect among them

    PM Modi united the entire country by abolishing Article 370, now the children of Kashmir have as much right over the country as the children of any other state

    Our goal is to make Jammu and Kashmir such that not a single person of Jammu and Kashmir dies due to terrorism

    The peace that has come to Jammu and Kashmir has to be converted into permanent peace

    In the last 10 years, stone pelting, bomb blasts and terrorism have ended in Jammu and Kashmir and development has gained new momentum

    Union Home Minister appeals to the children to go back and talk about peace, harmony and development to their families, friends and villages

    Posted On: 24 FEB 2025 8:24PM by PIB Delhi

    Union Home Minister and Minister of Cooperation, Shri Amit Shah interacted with 250 children from Jammu and Kashmir under ‘Watan Ko Jano’ programme in New Delhi today. Union Home Secretary and Director of the Intelligence Bureau (IB) were also present on the occasion. The program aims to introduce the youth and children of Jammu and Kashmir to the nation’s dynamic progress, rich social fabric, and cultural diversity, fostering a strong sense of social, cultural, and emotional connection.

     

     

    During the interaction, Union Home Minister Shri Amit Shah described the ‘Watan Ko Jano’ program as an initiative to deepen the understanding of our country. He said that our country is our home and just as we are familiar with every part of our home, we should also know our country in the same way. Shri Shah said that this vision led the Government of India to launch the ‘Watan Ko Jano’ program. Home Minister said that Prime Minister Shri Narendra Modi has united the whole country by abolishing Article 370 and now the citizens of Kashmir have the same rights on the country as the citizens of any other state.

     

    Shri Amit Shah underlined that under the leadership of Prime Minister Shri Narendra Modi, significant efforts have been made over the past decade to make India prosperous, modern, and a global leader. He expressed confidence that in the future, students from around the world will come to India for education. As India advances, it will naturally drive progress for all. Home Minister emphasized that a more prosperous, modern, and developed India will bring benefits to everyone.

    Union Home Minister said that under Prime Minister Modi’s leadership, Jammu and Kashmir has witnessed significant development in education, industry, healthcare, and infrastructure. He highlighted that the world’s highest railway arch bridge, Asia’s largest tunnel, and the country’s only cable suspension bridge have all been built in Kashmir. Jammu and Kashmir is also the only region in India to have two All India Institutes of Medical Sciences (AIIMS), along with two Indian Institutes of Management (IIMs). It also has 24 major colleges, and eight universities. He emphasized that Kashmir, once badly affected by bomb blasts and terrorism, has undergone a remarkable transformation over the past decade. Incidents of stone pelting, bomb blasts, and terrorism have been eliminated, allowing schools to function smoothly. Infrastructure development, including roads, hospitals, and universities, has progressed rapidly. Moreover, 36,000 elected public representatives now have their rightful authority at the Panchayat and Municipality levels, strengthening grassroots democracy in the region.

    Shri Amit Shah said that development can only happen when there is peace. He said no one benefits from terrorism. In the last 30 years, 38 thousand people have been killed in Kashmir due to violence. Shri Shah said that there has been an 80 per cent reduction in the death of civilians in Kashmir, and people are happy about this, but true happiness will come when not a single citizen of Jammu and Kashmir loses their life. Union Home Minister said that it is our goal to make Jammu and Kashmir a place where not a single person dies due to terrorism. He said that the responsibility of creating such a Jammu and Kashmir lies with the children and youth.

     

     

    Union Home Minister and Minister of Cooperation told the children that the entire country belongs to them and they should go back to Kashmir with the same spirit. He said that peace and tranquility is the most important thing and peace has come there under the rule of PM Modi. He said that under the Modi government, educational systems have been established, industries have come, hospitals have been built, drinking water facilities have been provided, and large infrastructure projects have been carried out. Shri Shah stated that no government can maintain peace in Jammu and Kashmir, only children can do so. He mentioned that if every child in Jammu and Kashmir explains to their parents and neighbours that the entire country belongs to us, and we need to live in peace with everyone while driving terrorism out of here, then there will be no need for police or army. He further said that the day is not far when there will be no weapons in anyone’s hands, and there will be no need for police or army with weapons.

    Shri Amit Shah appealed to the children to go back to their villages and talk to their parents, siblings, friends, relatives, and people in their village about peace, harmony, and development. He said that this country belongs to everyone, and it is important to instill this belief in the people of Jammu and Kashmir. Shri Shah said that Prime Minister Modi has brought so much development to the country, creating numerous avenues and opportunities that await the youth and children, and they should take advantage of these opportunities. He added that we all must work together to transform the peace established in Jammu and Kashmir into lasting peace.

     

    Two hundred fifty children from weaker sections of Jammu and Kashmir including 62 girls and 188 boys in the age group of 9-18 years visited Jaipur, Ajmer and Delhi under ‘Watan Ko Jano’ programme organized by Social Welfare Department of the Govt of J&K in coordination with Ministry of Home Affairs (MHA). During their exposure trip, started on 15th February, 2025, the children visited many important and historic places in Jaipur and Ajmer. They reached Delhi on 23rd February to meet dignitaries and to visit Qutub Minar, Red Fort and other important places in the national capital. The children will return to Jammu & Kashmir on 27th February, 2025.

    The Ministry of Home Affairs and Government of Jammu and Kashmir have been conducting Youth Exchange programme.  The main objective of the programme is to expose the youth and children of Jammu and Kashmir to vibrant development and social and cultural diversity of India so that they can feel socially, culturally and emotionally integrated with rest of the country. The programme is expected to have positive impact on the thinking of the youth.

    Under the leadership of Prime Minister Shri Narendra Modi and guidance of Union Home Minister Shri Amit Shah, the MHA is committed to such initiatives for development and progress of youth and children of Jammu and Kashmir. ‘Watan Ko Jano’ programme in one such initiative through which, children of terrorism affected families and/or weaker sections of society in Jammu and Kashmir identified by J&K Rehabilitation Council are taken for exposure trip.

    The youth and children are mainly selected from the various orphanages in the districts of J&K. Preference is given to children from terrorism affected families, destitute children and children from weaker sections. The other criterion for selection apart from socio economic background, is proficiency in education, sports and cultural activities.  So far, about 2868 youth/children have participated in ‘Watan Ko Jano’ programme.

    *****

    RK/VV/ASH/PR/PS

    (Release ID: 2105908) Visitor Counter : 98

    Read this release in: Hindi

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: The India-EU Trade and Technology Council first Workshop on Electric Vehicles (EV) Charging Technology paves the way for new advancements in standardisation and sustainable mobility

    Source: Government of India (2)

    Posted On: 24 FEB 2025 8:14PM by PIB Delhi

    The EU and India are deepening their partnership as part of a new strategic agenda to enhance prosperity, stability, security and people-to-people connections, to which the cooperation in the area of research brings a dynamic contribution.

    The first India-EU Workshop on Electric Vehicles Charging Technology was held in Pune, India, on 24th Feb 2025 under the auspices of the India-EU Trade and Technology Council (TTC) Working Group 2 on Green and Clean Energy Technologies, successfully bringing together policy-makers, representatives from electro-mobility industry, standardisation associations and technical testing facilities, to foster harmonised solutions for sustainable transport.  The workshop was attended by Dr. Monoranjan Mohanty (Adviser) and Dr Hafsa Ahmad (Scientist) from Office of the Principal Scientific Adviser to Government of India, Dr. Reji Mathai (Director) and Mr. Abhihit Mulay (Deputy Director) from the Automotive Research Association of India and Mr. Nitish Kumar Jain, Deputy Director, Bureau of Indian Standards. Participants from European Commission included Dr. Liliana Pasecinic, Dr. Harald Scholz, Mr. Dirk Groβmann and Dr. Saki Gerassis, who joined online. Stakeholders from the Indian and European industry also actively participated in the workshop.

    The workshop has been one of milestones in the TTC Working Group 2 work agenda and will be discussed as an achievement in the forthcoming 2nd TTC Ministerial meeting to be held in New Delhi on 28th Feb 2025.

    Organised by the Automotive Research Association of India (ARAI) and the European Commission’s Joint Research Centre (JRC), with the support of the Office of the Principal Scientific Adviser (PSA) to the Government of India, the workshop addressed key policy and technical aspects of EV charging, covering all size classes of electric vehicles, and focusing on standardisation, and strategic cooperation. The workshop featured expert presentations, policy dialogues, and panel discussions, covering critical topics such as:

    • The EU- and Indian charging standards, infrastructure requirements, requirements for communication and interoperability targets;
    • Insights about the future strategic directions in India and the EU in sustainable mobility, including potential synergies leading to economies of scale;
    • EV Charging system testing capabilities and pre-normative research, with focus on ARAI and JRC facilities;
    • Industry perspectives to enhance India-EU collaboration in EV-charging

    The workshop provided the opportunity to deepen bilateral cooperation on harmonising standards for EV charging infrastructure, including cooperative, pre-normative research for harmonised testing solutions and knowledge exchange in the field of electro-mobility.

    Additionally, the participants were provided the opportunity to visit the ARAI laboratory, gaining first-hand exposure to India’s state-of-the-art EV and electro-mobility testing facilities.

     

    About the Trade and Technology Council set up by India and the EU

    The India-EU Trade and Technology Council (TTC) was first announced by the European Commission President, Ursula von der Leyen, and India’s Prime Minister, Narendra Modi, in April 2022. Established on February 6, 2023, this strategic coordination mechanism allows both sides to tackle challenges at the nexus of trade, trusted technology, and security, and deepens cooperation in these fields. Establishing India-EU TTC is a key step towards a strengthened strategic partnership for the benefit of all people in India and the EU.

    The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners. Geostrategic challenges have reinforced the EU and India’s common interest in ensuring security, prosperity, and sustainable development based on shared values.

    The TTC consists of three Working Groups:

    1. Working Group 1 on Strategic Technologies, Digital Governance and Digital Connectivity
    2. Working Group 2 on Green and Clean Energy Technologies; and
    3. Working Group 3 on Trade, Investment and Resilient Value Chains.

    Working Groups are now jointly working to advance identified objectives and key actions. The India-EU TTC Working Group 2 on Green and Clean Energy Technologies is being led by the Office of the Principal Scientific Adviser to the Government of India from the Indian side and the Directorate-General for Research and Innovation of the European Commission from the EU side.

    Both sides expect to report at the next TTC Meeting at Ministerial level, in 2025, on the progress made in this area through initiatives such as this workshop on Standardisation Strategy and trustable testing possibilities in EV mobility.  

     

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    MJPS/ST

    (Release ID: 2105904) Visitor Counter : 43

    MIL OSI Asia Pacific News