NewzIntel.com

Category: Artificial Intelligence

  • MIL-OSI: Nutanix is Positioned Furthest in Vision Among All Vendors in 2024 Gartner® Magic Quadrant™ for File and Object Storage Platforms

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) — Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced it is positioned furthest in vision among all vendors in the 2024 Gartner Magic Quadrant for File and Object Storage Platforms. Nutanix believes this recognition is due to the company’s strong vision for an enterprise storage platform that unifies unstructured data across edge, public and private clouds. This, along with the ability to consolidate files, objects and block storage across virtual machines and containers enables customers to consolidate architectures, simplify operations and reduce cost.

    “Nutanix is widely recognized for block-based hyperconverged infrastructure, so it’s particularly rewarding to see our vision recognized in bringing consistent operational leverage to file and object use cases, which increasingly form the data backbone for modern applications and generative AI” said Lee Caswell, SVP, Product and Solutions Marketing at Nutanix.

    Nutanix believes the company was positioned furthest in vision for five key reasons:

    • Modern scale-out architecture: Nutanix Unified Storage (NUS) offers a modern scale-out architecture that enables organizations to start small and efficiently scale out to very large volumes of multi-Petabyte data while also scaling performance;
    • Software-defined storage: NUS provides a software-defined solution that can be deployed across any server platform as well as any location – at the edge, in data centers or in public clouds;
    • Cloud operating model: Nutanix delivers a cloud operating model that extends the Nutanix hallmark of management simplicity to storage and data;
    • Integrated cyber resilience: NUS offers integrated cyber resilience and data security capabilities aligned to the National Institute of Standards and Technology (NIST) cybersecurity framework;
    • Unified platform and licensing: NUS delivers a unified storage platform for NFS, SMB, S3, and iSCSI with a single license meter for any data access type.

    NUS is a software-defined data platform that uniquely consolidates access and management of siloed file, object, and block storage into a single platform. Powered by rich data services such as analytics, ransomware protection, lifecycle management, and data protection, NUS enables organizations to adapt to fast-changing applications’ needs and shift their focus from data storage to more strategic data management. Additionally, in the past year, Nutanix showed significant advancements in high performance for AI workloads with top placement in MLPerf Storage benchmark for training, data protection with zero RPO/RTO metro sync, enhanced cyber resilience through Nutanix Data Lens with an innovative threat containment window followed by automated recovery, and expanded hybrid cloud integration with AWS.

    NUS is designed to power AI and modern cloud-native workloads by offering data locality, exceptional performance, linear scalability, and uncompromising security, supporting both training and inferencing use cases across industries. It also supports hybrid cloud use cases such as disaster recovery, cloud bursting, analytics, and cloud-based data replication and tiering. For video surveillance, NUS delivers high throughput and fault-tolerant storage, ensuring a high ROI for archival, retrieval, and analytics of video data. And finally, it enables workload consolidation by allowing all unstructured data workloads to run on a single platform, supporting both file and object services with multi-protocol capabilities based on application needs.

    “Our video surveillance system is important to physical security on campus, and we often need to add capacity and bandwidth,” said Jeff Blomendahl, IT Manager, University of Kansas Medical Center. “Nutanix makes it easy to grow the system and provide more resources as they are needed.”

    More information on Nutanix and a complimentary copy of the report are available here.

    Source:
    Source: Gartner, Magic Quadrant for File and Object Storage Platforms, Chandra Mukhyala, Julia Palmer, Chandra Mukhyala, Jeff Vogel, 8 October 2024
    GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About Nutanix
    Nutanix is a global leader in cloud software, offering organizations a single platform for running applications and managing data, anywhere. With Nutanix, companies can reduce complexity and simplify operations, freeing them to focus on their business outcomes. Building on its legacy as the pioneer of hyperconverged infrastructure, Nutanix is trusted by companies worldwide to power hybrid multicloud environments consistently, simply, and cost-effectively. Learn more at www.nutanix.com or follow us on social media @nutanix.

    © 2024 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or unregistered trademarks of Nutanix, Inc. (“Nutanix”) in the United States and other countries. Other brand names or marks mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). This press release is for informational purposes only and nothing herein constitutes a warranty or other binding commitment by Nutanix. This release may contain express and implied forward-looking statements, which are not historical facts and are instead based on Nutanix’s current expectations, estimates and beliefs. The accuracy of such statements involves risks and uncertainties and depends upon future events, including those that may be beyond Nutanix’s control, and actual results may differ materially and adversely from those anticipated or implied by such statements. Any forward-looking statements included herein speak only as of the date hereof and, except as required by law, Nutanix assumes no obligation to update or otherwise revise any of such forward-looking statements to reflect subsequent events or circumstances.

    The MIL Network –

  • MIL-OSI: Volta Finance Limited – Director/PDMR Shareholding

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA/VTAS)

    Notification of transactions by directors, persons discharging managerial
    responsibilities and persons closely associated with them

    NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

    *****
    Guernsey, 4 November 2024

    Pursuant to the announcements made on 5 April 2019 and 26 June 2020 relating to changes to the payment of directors fees, Volta Finance Limited (the “Company” or “Volta”) has purchased 3,403 ordinary shares of no par value in the Company (“Ordinary Shares”) at an average price of €5.5 per share.

    Each director receives 30% of their Director’s fees for any year in the form of shares, which they are required to retain for a period of no less than one year from their respective date of issue.

    The shares will be issued to the Directors, who for the purposes of Regulation (EU) No 596/2014 on Market Abuse (“MAR“) are “persons discharging managerial responsibilities” (a “PDMR“).

    • Dagmar Kershaw, Chairman and a PDMR for the purposes of MAR, acquired 1,047 additional Ordinary Shares in the Company. Following the settlement of this transaction, Ms Kershaw will have an interest in 13,885 Ordinary Shares, representing 0.04% of the issued shares of the Company;
    • Stephen Le Page, Director and a PDMR for the purposes of MAR, acquired 733 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Le Page will have an interest in 51,295 Ordinary Shares, representing 0.14% of the issued shares of the Company;
    • Yedau Ogoundele, Director and a PDMR for the purposes of MAR acquired 733 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mrs Ogoundele will have an interest in 7,595 Ordinary Shares, representing 0.02% of the issued shares of the Company; and
    • Joanne Peacegood, Director and a PDMR for the purposes of MAR acquired 890 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mrs Peacegood will have an interest in 4,395 Ordinary Shares, representing 0.01% of the issued shares of the Company;

    The notifications below, made in accordance with the requirements of MAR, provide further detail in relation to the above transactions:

    1. Details of the person discharging managerial responsibilities / person closely associated
    a)   Dagmar Kershaw
    CHAIRMAN & DIRECTOR      		 b) Stephen Le Page
    DIRECTOR    		   c) Yedau Ogoundele
    DIRECTOR    		 d) Joanne Peacegood
    DIRECTOR
    1. Reason for the notification
    a. Position/status Director
    b. Initial notification/Amendment Initial notification
    1. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
    a. Name Volta Finance Limited
    b. LEI 2138004N6QDNAZ2V3W80
    1. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
    a. Description of financial instrument, type of instrument Ordinary Shares
    b. Identification code GG00B1GHHH78
    c. Nature of the transaction Purchase and allocation of Ordinary Shares relation to the part-payment of Directors’ fees for the quarter ended 31 October 2024
    d. Price(s) €5.5 per share
    e. Volume(s) Total: 3,403
    f. Date of transaction 1 November 2024
    g. Place of transaction On-market – London
    1. Aggregate Purchase Information
    a)
    Dagmar Kershaw
    Chairman and Director    		 b)
    Stephen Le Page
    Director    		   c)
    Yedau Ogoundele
    Director    		 d)
    Joanne Peacegood
    Director
    Aggr. Volume:
    1,047

    Price:
    €5.5per share

    		 Aggr. Volume:
    733

    Price:
    €5.5 per share

    		   Aggr. Volume:
    733

    Price:
    €5.5 per share

    		 Aggr. Volume:
    890

    Price:
    €5.5 per share

    CONTACTS

    For the Investment Manager
    AXA Investment Managers Paris
    François Touati
    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    Olivier Pons
    Olivier.pons@axa-im.com
    +33 (0) 1 44 45 87 30

    Company Secretary and Administrator
    BNP Paribas S.A, Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com 
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Securities plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management as of the end of December 2023.  

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    The MIL Network –

  • MIL-OSI: Grayscale® Digital Large Cap Fund (Ticker: GDLC) Application to Uplist as Exchange-Traded Product Now Published in Federal Register

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., Nov. 04, 2024 (GLOBE NEWSWIRE) — Grayscale Investments®, an asset management firm with expertise in crypto investing offering more than 25 crypto investment products, today announced that NYSE Arca, Inc.’s (“NYSE Arca”) Form 19b-4 proposing to list and trade shares of Grayscale Digital Large Cap Fund (OTCQX: GDLC) as an Exchange-Traded Product (ETP) has been published in the Federal Register (link), formally initiating the review process which can take up to 240 days. The proposed rule change, if adopted, would represent the first national securities exchange ruleset permitting the listing and trading of shares of multi-crypto asset ETPs: NYSE Arca Rule 8.800-E (Commodity- and/or Digital Asset-Based Investment Interests).

    As part of the Form 19b-4 filing, NYSE Arca’s proposed rule change aims to revise how the exchange defines ETPs that hold commodities and digital assets beyond Bitcoin and Ether.

    “Grayscale is committed to pioneering the next generation of digital asset investing, and client focus is foundational to our firm’s evolution,” said Peter Mintzberg, Grayscale’s CEO. “As investors seek to maximize risk-adjusted returns and build financial portfolios that can adapt to market shifts, they are increasingly allocating to digital assets. At Grayscale, we aspire to proactively meet our clients’ needs and be the go-to crypto investing partner for decades to come.”

    As of November 1, 2024, GDLC currently holds assets under management of more than $530M, and includes the following large-cap digital assets from the CoinDesk Large Cap Select Index (DLCS) that are rebalanced quarterly*:

    • Bitcoin, 76.53%
    • Ether, 16.92%
    • Solana, 4.36%
    • XRP, 1.63%
    • Avalanche, 0.56%

    “Grayscale Digital Large Cap Fund is currently trading on OTC Markets under ticker: GDLC, and continues to meet growing investor demand by providing diversified exposure to crypto through a portfolio of market-leading digital assets,” said David LaValle, Grayscale’s Global Head of ETFs. “Grayscale and NYSE Arca have taken a thoughtful approach toward developing a proposed ruleset to permit the listing and trading of shares of multi-crypto asset ETPs within the SEC’s existing standard, and we look forward to engaging constructively with regulators, as we seek to bring digital assets further into the U.S. regulatory perimeter and deliver for our clients.”

    Under the proposal, funds invested in a diversified basket index must invest at least 90% in commodities with an established surveillance or futures market, like Bitcoin and Ether, while up to 10% could be allocated elsewhere. If approved, this rule would directly benefit GDLC, which tracks the CoinDesk Large Cap Select Index (DLCS) and invests in a diversified basket of large-cap digital assets that is rebalanced quarterly.

    Grayscale is firmly committed to building future-forward regulated investment vehicles that are designed to help investors build stronger diversified portfolios. GDLC first launched as a private placement in February 2018, began publicly trading on OTC Markets under ticker: GDLC in November 2019, and became an SEC reporting entity in July 2022.

    Grayscale has several private placement products currently open for investment by eligible accredited investors, including diversified funds that track thematic indices and are rebalanced quarterly, such as Grayscale Decentralized AI Fund, as well as single-asset trusts that provide clients with exposure to a singular digital asset, including Grayscale Avalanche Trust, Grayscale Aave Trust, Grayscale Bittensor Trust, Grayscale MakerDAO Trust, Grayscale NEAR Trust, Grayscale Stacks Trust, Grayscale Sui Trust and Grayscale XRP Trust.

    For updates and more information about Grayscale’s products, please visit https://www.grayscale.com/

    *Holdings as of 11/1/2024 and are subject to change

    This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

    Grayscale intends to attempt to have shares of new products quoted on a secondary market. However, there is no guarantee that we will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in the new products should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions regulators, such as the SEC, FINRA, or other regulatory bodies may have regarding such products. As a result, shareholders of such products should be prepared to bear the risk of investment in the shares indefinitely. To date, certain products have not met their investment objective and the shares of such products quoted on OTC Markets have not reflected the value of the digital assets held by such products, less such products’ expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial. There have also been instances where the shares of certain products have traded at a discount.

    Private placement securities are speculative, illiquid, and entail a high level of risk, including the risk that an investor could lose their entire investment.

    Smart contracts are a new technology and ongoing development may magnify initial problems, cause volatility on the networks that use smart contracts and reduce interest in them, which could have an adverse impact on the value of MKR.

    The Artificial Intelligence protocols underlying the Grayscale Decentralized AI Fund components were only recently conceived and the technologies underlying the protocols may not function as intended, which could have an adverse impact on the value of the Fund Components and an investment in the shares.

    The Avalanche protocol was only conceived in 2018 and the Avalanche protocol or its subnet mechanisms may not function as intended, which could have an adverse impact on the value of AVAX and an investment in the shares.

    The Bittensor protocol was only conceived in 2017 and its Yuma Consensus and Proof-of-Authority consensus mechanisms may not function as intended, which could have an adverse impact on the value of TAO and an investment in the shares.

    The MakerDao protocol was only conceived in 2015 and the MakerDao protocol, Dai, or CDPs may not function as intended, which could have an adverse impact on the value of MKR and an investment in the shares.

    The Stacks protocol was only conceived in 2017 and its “proof-of transfer” consensus mechanisms may not function as intended, which could have an adverse impact on the value of STX and an investment in the Shares. The Stacks Network only launched in 2021 and cross-blockchain scaling solutions are a new technology that could fail to attract users, which could have an adverse impact on the value of STX and an investment in the shares.

    The Sui protocol and Near protocol were only conceived in 2017 and such protocols or their Nightshade and Doomslug consensus mechanisms, respectively, may not function as intended, which could have an adverse impact on the value of SUI and NEAR and an investment in the shares.

    The Ripple protocol was only launched in 2012 and the Ripple Network, the Ripple Ledger, or the Trusted Nodes Lists may not function as intended, which could have an adverse impact on the value of XRP and an investment in the shares.

    About Grayscale Investments®
    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC).

    Media Contact
    Jennifer Rosenthal
    press@grayscale.com

    Client Contact
    866-775-0313
    info@grayscale.com

    The MIL Network –

  • MIL-OSI: EveLab Insight Unveils Advanced Neck Analysis with Revolutionary Panoramic AI Skin Analysis System

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Nov. 04, 2024 (GLOBE NEWSWIRE) — A revolutionary player in the beauty tech space, EveLab Insight’s Eve V Panoramic AI Skin Analysis System uncovers the ground truth of skin by capturing high quality 3D face contour and high resolution skin photographs in 25 seconds, accurately assessing skin concerns such as aging, redness, acne, skin tone, pigmentary spots and more. The Eve V system precisely analyzes the skin and provides customized skincare routines that allow individuals to discover the full potential of healthy skin. 

    Previously focused solely on facial analysis, EveLab Insight’s cutting-edge skin analysis system now makes a groundbreaking leap to the neck area. This innovative feature comprehensively evaluates neck wrinkles and fine lines, setting a new standard for neck scans in the market. With a sophisticated four-degree system and nine distinct grades to assess the severity of neck wrinkles, EveLab Insight can now provide precise scoring that highlights the condition of your skin. Levels include:

    None: No wrinkles are present, and the skin appears smooth.
    Mild: Presence of shallow wrinkles, either 1-2 or 3 or more.
    Moderate: Medium-depth wrinkles ranging from 1-2 or 3 or more.
    Severe: Deep wrinkles, with possible accompanying loose soft tissue in the neck area. The severity ranges from a few deep wrinkles to very noticeable loose tissue.

    The addition of neck analysis to the EveV Panoramic AI Skin Analysis System is a powerful tool that can be used by brands, spas, clinicians and more for a plethora of reasons:

    Personalized Product Recommendations:
    The neck wrinkles analysis feature allows beauty brands to offer highly personalized skincare product recommendations. By analyzing the severity and specific characteristics of neck wrinkles, brands can suggest tailored products such as targeted neck creams, serums, and masks. If a client’s analysis indicates moderate to severe neck wrinkles, the brand can recommend their specialized neck cream designed to address these specific concerns. This enhances the customer experience, increases sales of specialized products, and builds stronger customer loyalty.

    Promoting Existing Neck Creams:
    Beauty brands with existing neck creams can leverage the neck wrinkles analysis to effectively promote these products. By demonstrating the efficacy of their neck creams through before-and-after skin analysis reports, brands can build trust and convince clients of the product’s benefits. This targeted approach not only boosts sales but also positions the brand as a leader in anti-aging solutions.

    Data-Driven Product Development:
    Beauty brands can use the detailed data from the neck wrinkles analysis report to drive research and development. Understanding common aging patterns and the effectiveness of existing products help in creating new, more effective formulations. This ensures that the products address the most prevalent issues, enhancing their market competitiveness and effectiveness.

    Customized Treatment Plans:
    Aesthetic clinics can use the neck wrinkles analysis to create highly customized treatment plans. By providing accurate and detailed information on wrinkle severity and characteristics, clinicians can design targeted treatments such as laser therapy, radiofrequency treatments, or injectable fillers. This precision leads to better treatment outcomes and higher client satisfaction.

    The launch of EveLab Insight’s advanced neck analysis marks a significant step in addressing the unique skincare needs of the neck area. By providing precise assessments of neck wrinkles and fine lines, we empower brands and clinics to offer targeted solutions, enhancing personalized care for this often-overlooked region and transforming how we approach neck skincare.

    Media contact:
    Daisy Zhang
    daisy.zhang@evelabinsight.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b6e0c379-e053-4521-bb58-b3859aab8be8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c06855a5-dc85-4500-a9ea-0fe513885ba3

    The MIL Network –

  • MIL-OSI Canada: MP Chahal announces federal investments to grow Alberta’s aerospace and aviation industry

    Source: Government of Canada News (2)

    News release

    Over $4.3 million through PrairiesCan to manufacture and commercialize new technologies, connect small- and medium-sized firms with procurement opportunities, and create new career paths for underrepresented groups

    November 4, 2024 – Edmonton, Alberta – PrairiesCan

    With more than 500 small- and medium-sized businesses that employ thousands of workers, Alberta’s aerospace and aviation industry is playing a key role in diversifying local economies and creating good-paying jobs in communities across the province. The Government of Canada is collaborating with partners like post-secondary institutions, industry associations, municipalities and businesses to strengthen this important industry’s competitiveness.

    Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, highlighted five projects receiving more than $4.3 million in PrairiesCan funding that are contributing to Alberta’s leadership in aerospace and aviation innovation. The projects include:

    • Over $186,000 for the Alberta Aviation & Aerospace Council to develop and deliver the Alberta Aerospace and Defence Conference in 2025 in Calgary and 2026 in Edmonton. This newly established in-person event will help connect Alberta’s small- and medium-sized firms with procurement and investment opportunities with global defence contractors.
    • Over $100,000 for Elevate Aviation to develop and launch a mentorship initiative that provides access to personalized mentorship connections, networking opportunities and professional development courses—ultimately leading to job placement opportunities for underrepresented groups while addressing the demand for skilled workers in in the aerospace and aviation industry.
    • Over $1.4 million for the Southern Alberta Institute of Technology (SAIT) to create an aerospace composite materials laboratory. Innovations that use advanced composite materials have the potential to enhance aircraft performance while reducing the environmental impact of the aviation sector. This new lab includes leading-edge manufacturing and testing equipment, as well as a team of expert researchers and engineers to support cutting-edge research in the aerospace manufacturing sector.
    • Over $50,000 for Sturgeon County to develop a report and ecosystem map on the Alberta’s aerospace and defence sector value chain. This project is better enabling the County and sector partners to identify and connect local small business suppliers to larger companies.
    • $2.6 million for UVAD Technologies Inc. for developing, demonstrating and commercializing an electric fixed-wing uncrewed aerial vehicle.  

    In total, today’s investments are expected to benefit over 330 small- and medium sized businesses and support more than 360 jobs.

    In line with the principles of the Government of Canada’s Framework to Build a Green Prairie Economy, these investments are about collaborating on local priorities and building on local strengths to seize opportunities for prosperity in a sustainable net-zero Prairie economy.

    Quotes

    “Municipalities, the private sector and post-secondary institutions are all part of the vital ecosystem for Alberta’s growing aerospace and aviation sector. Our government’s investments in these projects are helping empower cutting-edge research and commercialization, connecting local businesses to new markets, and breaking down barriers for underrepresented people seeking careers in this growing sector.”
    –The Honourable Dan Vandal, Minister for PrairiesCan

    “Alberta has a global reputation for excellence in aerospace and aviation thanks to the ingenuity, innovation and hard work of our small- and medium-sized businesses, innovators and talented workforce. Calgary Skyview is home to some of the best aerospace and aviation companies in Canada and are benefiting greatly from our government’s investments in the growing sector.”
    –George Chahal, Member of Parliament for Calgary Skyview

    “Alberta’s aviation and aerospace industries have incredible potential, and the addition of defence to our conference will create critical connections and opportunities for businesses to grow within the global aerospace and defence market. Bringing industry stakeholders together under one roof will accelerate Alberta’s role in these sectors, driving innovation and investment in our province.”
    –Kendra Kincade, Chair, Alberta Aviation & Aerospace Council

    “This investment enables us to expand our mentorship initiatives, opening doors for individuals who bring diverse perspectives, drive innovation, and strengthen the industry. By connecting participants with mentorship, networking, and professional development, we are setting the stage for a stronger, more inclusive future for aviation.”
    –Laura Sinclair, Chief Operating Officer / Chief Financial Officer, Elevate Aviation 

    “This significant investment in SAIT’s aerospace composite materials laboratory within our Applied Research and Innovation Services (ARIS) area positions Alberta at the forefront of sustainable aerospace innovation. Equipped with advanced technology and a skilled research team, this lab will drive new levels of performance and environmental responsibility across the aerospace sector. This project also aligns with SAIT’s plans to expand CIRAMM’s newly established Alberta Aerospace Research Centre (AARC), advancing Alberta’s aerospace capabilities and elevating Canada’s standing in this critical industry.”
    –Dr. Hamid Rajani, Chair of CIRAMM – Centre for Innovation and Research in Advanced Manufacturing and Materials at ARIS

    “Sturgeon County is ideally situated near three army and two Royal Canadian Air Force bases, the epicenter of Alberta’s aerospace and defence sectors. Defining the skills, knowledge and expertise within the aerospace and defence ecosystem will help us attract further investment into our region. We’re thankful for PrairiesCan support, and are already seeing the benefits from this work as we engage in conversations with potential investors.”
    –Alanna Hnatiw, Mayor of Sturgeon County

    “Funding received by UVAD Technologies Inc. through PrairiesCan and the Aerospace Regional Recovery Initiative is critically important to our efforts in developing and commercializing an industry leading Uncrewed Aircraft Vehicle (UAV) on a global scale.  The Alpine Swift, UVAD’s all-electric UAV, has progressed significantly through the support of this program. Government support has also enabled Southern Alberta to attract world leading experts in the UAV field, and UVAD is strategically positioned to build on this expertise. UVAD has grown exponentially since establishing our facility in Medicine Hat, Alberta.”
    –David Birkett, President and CEO, UVAD Technologies Inc.

    Quick facts

    • Federal funding for these projects is being provided through PrairiesCan, the federal department that supports economic growth in Alberta, Saskatchewan and Manitoba.

    • The total federal investment of $4,350,160 announced today is allocated through three programs administered by PrairiesCan: the Aerospace Regional Recovery Initiative (ARRI), the Community Economic Development and Diversification (CEDD) program, and the Regional Innovation Ecosystems (RIE) program.

      • ARRI is a national program that is providing $250 million over three years to help the Canadian aerospace sector emerge from the pandemic and continue to compete on the global stage and the intake period is now closed.
      • CEDD supports economic development initiatives that contribute to the economic growth and diversification of communities across the Prairie provinces. Through this program, PrairiesCan enables communities to leverage their capacity and strengths to respond to economic development opportunities and adjust to changing and challenging economic circumstances.
      • RIE creates, grows and nurtures inclusive regional ecosystems that support what businesses need to innovate from start to finish and an environment where companies can innovate, grow and compete.

    • The Framework to Build a Green Prairie Economy is a long-term commitment to work differently, through stronger coordination among federal departments on investments for the Prairies and closer collaboration with Prairie partners on their priorities for a prosperous and sustainable Prairie economy.

    Associated links

    Contacts

    Carson Debert
    Press Secretary
    Office of the Minister of Northern Affairs and Minister responsible for PrairiesCan and CanNor
    Carson.Debert@rcaanc-cirnac.gc.ca

    Rohit Sandhu
    Communications Manager
    Prairies Economic Development Canada
    rohit.sandhu@prairiescan.gc.ca

    Stay connected

    Follow PrairiesCan on X (formerly Twitter) and LinkedIn

    Toll-Free Number: 1-888-338-9378
    TTY (telecommunications device for the hearing impaired):     1-877-303-3388

    MIL OSI Canada News –

  • MIL-OSI USA: DOD Awards Project to Develop Open Radio Access Network Prototype at Fort Bliss

    Source: United States Department of Defense

    The Department of Defense (DoD) announced today the award of a contract in the amount of $6,514,697.51 to Hughes Network Systems, LLC for the development of an Open Radio Access Network (Open RAN) prototype at Fort Bliss, Texas. Open RAN offers DoD greater choice, resiliency, and innovation. The 5G Open RAN prototype equipment will be installed on Fort Bliss to operate a temporary network for evaluation purposes, which will then transition to serve as part of the Hughes’ commercial network supporting both DoD and commercial customers in and around Fort Bliss. The project is a joint effort of the U.S. Army, the DoD Chief Information Officer (CIO), and the Office of the Under Secretary of Defense for Research and Engineering (OUSD(R&E)).

    Open RAN allows components from different vendors — including radio, hardware, and software — to be interoperable on the same platform. Modularity in the RAN allows agility and promotes supply chain security, vendor competition, and, ultimately, innovation and cost efficiencies. Open RAN’s ecosystem provides numerous benefits to DoD including increased functionality and scalability of 5G wireless networks, incorporation of artificial intelligence/machine learning (AI/ML) into DoD systems, and greater flexibility in acquiring or replacing the software and hardware used in military equipment.

    Specifically, Open RAN and the ability to exert near-real time control over the RAN, via a RAN Intelligent Controller (RIC), enables strategic advantages to the warfighter. The primary use case that the Fort Bliss prototype will test through the RIC is the ability to rapidly change spectrum at the 5G control node, a capability that has real world relevance to resilient communications for a mobile command post.

    “The Open RAN project at Fort Bliss is a valuable opportunity for the DoD to explore the enhanced command and control capabilities that near-real time control of the RAN offers DoD. The DoD CIO will continue to prioritize the deployment of Open RAN architectures and 5G across the Department, leveraging these information communications technologies for strategic warfighter advantage,” said Mr. Anthony Smith, DoD CIO’s Acting Deputy Chief Information Officer for Command, Control, & Communications.

    The scope of the Open RAN project at Fort Bliss is designed to meet key strategic milestones that support FY 2024 National Defense Authorization Act requirements and DoD initiatives to diversify supply chain. It will also improve Army processes for enabling MNO access to installations. This initiative will serve as a testing ground for developing new Open RAN RIC tactical applications, developing footprints for other installations, and establishing a training site for both civilian and military technical staff. The Army will also evaluate policies and network architecture standards that leverage commercially interchangeable and vendor agnostic solutions to enhance the Army Unified Network.

    MIL OSI USA News –

  • MIL-OSI USA: Supplemental Disaster Benefits Issued to People Receiving Food and Nutrition Benefits in 23 Counties Impacted by Hurricane Helene

    Source: US State of North Carolina

    Headline: Supplemental Disaster Benefits Issued to People Receiving Food and Nutrition Benefits in 23 Counties Impacted by Hurricane Helene

    Supplemental Disaster Benefits Issued to People Receiving Food and Nutrition Benefits in 23 Counties Impacted by Hurricane Helene
    hejones1

    In response to Hurricane Helene, the North Carolina Department of Health and Human Services is providing one-time disaster supplement benefits to help households already receiving Food and Nutrition Services in 23 counties. This supplemental payment was automatically loaded onto participants’ Electronic Benefit Transfer cards Sunday and are now available for use. There is no action FNS participants need to take to receive the benefit.  The total benefit is more than $16 million that was issued to 68,000 households and 135,000 FNS participants in western North Carolina. The benefit will bring FNS recipients up to the maximum benefit level they can receive for their monthly benefit for one month.

    “We are pulling every lever we can to provide support for people and families impacted by Hurricane Helene,” said NC Health and Human Services Secretary Kody H. Kinsley. “Our commitment to helping communities rebuild and recover from Hurricane Helene includes ensuring no one goes hungry during this challenging time.”

    NCDHHS received federal authority to issue this one-month disaster benefit from the U.S. Department of Agriculture to ensure households receive the same level of support as those newly eligible for Disaster Supplemental Nutrition Assistance Program (D-SNAP) benefits due to the hurricane. If ongoing SNAP households are not already at the maximum benefit level for their household size, these supplements will bring their benefits up to that maximum amount.

    For an individual, the benefit brings them up to a total of $292; for a family of four, the benefit received brings the family up to $975; and for a family of seven, the benefit ensures the family receives $1,536. The benefit total is based on what the household received in September. Individuals and households already receiving the maximum monthly benefit are not eligible for the disaster benefit supplement.

    Individuals and households receiving FNS benefits in the following 23 counties approved by the USDA will receive the one-time benefit: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Cleveland, Gaston, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Transylvania, Watauga, Wilkes, and Yancey counties.

    For more information about disaster supplements and eligibility, please visit www.ncdhhs.gov/fns or contact your local DSS office. For information regarding Hurricane Helene and additional resources and flexibilities in place go to www.ncdhhs.gov/helene or www.ncdps.gov/helene. 

    ###

    In accordance with federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, this institution is prohibited from discriminating on the basis of race, color, national origin, sex (including gender identity and sexual orientation), religious creed, disability, age, political beliefs, or reprisal or retaliation for prior civil rights activity.

    Program information may be made available in languages other than English. Persons with disabilities who require alternative means of communication to obtain program information (e.g., Braille, large print, audiotape, American Sign Language), should contact the agency (state or local) where they applied for benefits. Individuals who are deaf, hard of hearing or have speech disabilities may contact USDA through the Federal Relay Service at (800) 877-8339.

    To file a program discrimination complaint, a Complainant should complete a Form AD-3027, USDA Program Discrimination Complaint Form which can be obtained online at: https://www.usda.gov/sites/default/files/documents/ad-3027.pdf, from any USDA office, by calling (866) 632-9992, or by writing a letter addressed to USDA. The letter must contain the complainant’s name, address, telephone number, and a written description of the alleged discriminatory action in sufficient detail to inform the Assistant Secretary for Civil Rights (ASCR) about the nature and date of an alleged civil rights violation. The completed AD-3027 form or letter must be submitted to:

    1. Mail: 
      Food and Nutrition Service, USDA
      1320 Braddock Place, Room 334
      Alexandria, VA 22314; or
    2. Fax:
      (833) 256-1665 or (202) 690-7442; or
    3. Email:
      FNSCIVILRIGHTSCOMPLAINTS@usda.gov

    This institution is an equal opportunity provider.

    En respuesta al huracán Helene, el Departamento de Salud y Servicios Humanos de Carolina del Norte está proporcionando beneficios suplementarios para desastres para ayudar a los hogares que ya reciben Servicios de Alimentos y Nutrición en 23 condados. Este pago suplementario se cargó automáticamente en las tarjetas de transferencia electrónica de beneficios de los participantes el domingo y ahora está disponible para su uso. No hay ninguna acción que los participantes de Servicios de Alimentos y Nutrición (FNS, por sus siglas en inglés) deban tomar para recibir el beneficio.  El beneficio total es de más de $ 16 millones que se emitió a 68,000 hogares y 135,000 participantes de FNS en el oeste de Carolina del Norte. El beneficio llevará a los beneficiarios de FNS hasta el nivel máximo de beneficio que pueden recibir por su beneficio mensual durante un mes.

    “Estamos haciendo todo lo posible para brindar apoyo a las personas y familias afectadas por el huracán Helene”, dijo el secretario de Salud y Servicios Humanos de Carolina del Norte, Kody H. Kinsley. “Nuestro compromiso de ayudar a las comunidades a reconstruirse y recuperarse del huracán Helene incluye garantizar que nadie pase hambre durante este momento difícil”.

    El Departamento de Salud y Servicios Humanos de Carolina del Norte (NCDHHS, por sus siglas en inglés) recibió la autoridad federal para emitir este beneficio de un mes para desastres por parte del Departamento de Agricultura de los Estados Unidos, para garantizar que los hogares reciban el mismo nivel de apoyo que los recién elegibles para los beneficios del Programa de Asistencia Nutricional Suplementaria para Desastres (D-SNAP, por sus siglas en inglés) debido al huracán. Si los hogares que ya reciben SNAP aún no están en el nivel máximo de beneficios para el tamaño de su hogar, estos suplementos llevarán sus beneficios hasta esa cantidad máxima.

    Para un individuo, el beneficio lo lleva a un total de $ 292 dólares; para una familia de cuatro, el beneficio recibido lleva a la familia hasta $ 975 dólares; y para una familia de siete, el beneficio asegura que la familia reciba $ 1,536 dólares. El total de beneficios se basa en lo que el hogar recibió en septiembre. Las personas y los hogares que ya reciben el beneficio mensual máximo no son elegibles para el suplemento de beneficios por desastre.

    Las personas y los hogares que reciben beneficios del FNS en los siguientes 23 condados aprobados por el la Departamento de Agricultura de los Estados Unidos (USDA, por sus siglas en inglés) recibirán el beneficio único: los condados de Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Cleveland, Gaston, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Transylvania, Watauga, Wilkes y Yancey.

    Para obtener más información sobre los suplementos para desastres y los requisitos, visite www.ncdhhs.gov/fns o comuníquese con su oficina local de DSS. Para obtener información sobre el huracán Helene y los recursos y flexibilidades adicionales disponibles, visite www.ncdhhs.gov/helene o www.ncdps.gov/helene.

    ###

    De acuerdo con la ley federal de derechos civiles y las regulaciones y políticas de derechos civiles del Departamento de Agricultura de los Estados Unidos (USDA, por sus siglas en inglés), esta institución tiene prohibido discriminar por motivos de raza, color, origen nacional, sexo (incluyendo la identidad de género y la orientación sexual), credo religioso, discapacidad, edad, creencias políticas o represalias o repercusiones por actividades anteriores en defensa de los derechos civiles.

    La información del programa puede estar disponible en otros idiomas además del inglés. Las personas con discapacidades que necesiten medios alternativos de comunicación para obtener información sobre el programa (braille, letra grande, cinta de audio, lenguaje de señas estadounidense, etc.) deben contactar a la agencia estatal o local en la que solicitaron los beneficios. Las personas sordas o con problemas de audición o discapacidades del habla pueden comunicarse con el USDA a través del Servicio de Retransmisión/Relé Federal al (800) 877-8339.

    Para presentar una queja por discriminación, el demandante debe completar un Formulario AD-3027, Formulario de queja de discriminación de programa del USDA, que se puede obtener en línea en: https://www.usda.gov/sites/default/files/documents/ad-3027.pdf, desde cualquier oficina del USDA, llamando al (866) 632-9992 o escribiendo una carta dirigida al USDA. La carta debe contener el nombre, dirección y número de teléfono del demandante, así como una descripción escrita de la supuesta acción discriminatoria con el suficiente detalle para informar al subsecretario de Derechos Civiles (ASCR, por sus siglas en inglés) sobre la naturaleza y la fecha de una supuesta violación de los derechos civiles. El formulario AD-3027 completo o la carta debe enviarse a:

    1. Correo: 
      Food and Nutrition Service, USDA
      1320 Braddock Place, Sala 334
      Alexandria, VA 22314
    2. Fax: 0-0
      (833) 256-1665 o (202) 690-7442
    3. Correo electrónico:
      FNSCIVILRIGHTSCOMPLAINTS@usda.gov

    Esta institución ofrece igualdad de oportunidades. 

    Nov 4, 2024

    MIL OSI USA News –

  • MIL-OSI USA: Winter Park Express Will Offer Expanded Service for 2025 Winter Season; Including the 2024 December Holidays

    Source: US State of Colorado

    WINTER PARK — Today, the Winter Park Express (WPE), operated by Amtrak, announced in cooperation with the State of Colorado and the Colorado Department of Transportation, that it will kick off the 2025 season with expanded service five days a week, launching on Thursday, Jan. 9, 2025. To offer even more convenience and to meet demand, the Winter Park Express will also offer a special expanded holiday service Dec. 20-22, and Dec. 27-29, 2024. Regular expanded service will run Thursday through Monday, from January 9 through March 31, 2025. Tickets, with a significantly lower price this year, go on sale today, Monday, November 4. 

    “The Winter Park Express is a great opportunity for Coloradans and visitors to explore our mountains without the hassle of driving or traffic. Now with expanded service and lower costs, Coloradans can save time and money on our way to enjoying our great outdoors. I look forward to taking the train into the mountains this season,” said Governor Jared Polis. 

    Winter Park Resort offers its expanded and improved WPE through cooperation and partnership with the State of Colorado and the Colorado Department of Transportation (CDOT). Tickets for this year’s Winter Park Express range from $19 – $39 and children 2-12 are eligible for 50% off base fares. These fare prices are 43% lower than previous years’ fares and will be available beginning today. 

    Passenger rail along the Front Range and through the U.S. Highway 40 mountain corridor is an important priority for Coloradans and the Polis-Primavera administration, and the Winter Park Express shows public demand for more mass transit options through the mountains and beyond. The rail line on which the Winter Park Express operates is the first leg of proposed mountain passenger rail that would run from Denver to Craig. 

    Winter Park Express expanded service will run every Thursday through Monday, January through March. The expanded service is also adding a stop at the Fraser platform, five miles west of Winter Park. That means the Winter Park Express will more effectively serve non-ski passengers wanting to travel from Denver to the Fraser Valley whether for business or recreation. Passengers can also load the train in Fraser for the return trip to Denver. The expanded service will also carry two additional passenger cars, raising the number of seats available from approximately 268 to 402 on each trip. A total of 69 roundtrips will operate this season, 29 more than during the 2024 season. 

    “The Winter Park Express ski train has long been a beloved tradition for Colorado and our guests from around the globe. It has demonstrated the desire from both residents and visitors for transportation options other than passenger vehicles. The Winter Park Express gives people another way to get to the slopes that’s more scenic, sustainable, and relaxing than getting in a car and driving,” said Sky Foulkes, president of Winter Park Resort. 

    Bring your skis and snowboards as a carry-on for no additional charge. While onboard, you’ll enjoy a trip in Coach class featuring wide, reclining seats with a big picture window, ample legroom and no middle seat. The train also features a bi-level Sightseer Lounge – the social hub of the train – offering panoramic views of the Rocky Mountains from upstairs and café service with snacks and drinks for sale downstairs. 

    “At CDOT, we know that big ski days often mean tough drives in the mountains, and the Winter Park Express offers a great option to take a relaxing, affordable trip. We are excited to join in this innovative partnership to expand service and lower costs for an iconic Colorado travel experience,” said CDOT Executive Director Shoshana Lew. 

    Tickets between Denver Union Station (station code: DEN) to Winter Park Resort (station code: WPR) and Fraser (station code: WIP) can be purchased at Amtrak.com/WinterParkExpress and the Amtrak app. The train departs Denver at 7 a.m. and arrives at the resort at 9 a.m. The return trip departs Winter Park Resort at 4:30 p.m. and arrives in Denver at 6:40 p.m. All times Mountain. Denver Union Station is served by the Regional Transportation District’s commuter trains from Denver International Airport as well as light rail, local or intercity buses, ride-sharing services, and taxis. 

    Customers in groups of up to eight can purchase Winter Park Express tickets at Amtrak.com/WinterParkExpress and the Amtrak app. Customers in groups of 9-14 can call 800-USA-RAIL (1-800-872-7245) to make a reservation. Groups of 15 or more—including requests for exclusive railcar occupancy—should fill out this form. For more information about group travel, call 800-USA-1GRP (1-800-872-1477) weekdays 6 a.m. – 6 p.m. MT, or email GroupSales@Amtrak.com. 

    Lift tickets and other passes can be purchased directly from the Winter Park Resort website. Winter Park Resort is an Alterra Mountain Company property and its Ikon Pass welcomes skiers and riders to a community of inspiring mountain destinations across the Americas, Europe, Australia, New Zealand and Japan 

    About Winter Park Resort 

    Winter Park Resort, Colorado’s quintessential mountain and ski resort, is located less than 70 miles from the city of Denver. Flanked by the dramatic Continental Divide and Rocky Mountains, the resort is defined by its pure natural environment, and its unique Colorado adventure culture. During the winter, Winter Park receives some of the state’s most consistent snowfall across its 3000+ acres of world-class terrain, and has been voted USA Today’s #1 Ski Resort in North America multiple times. During summer, the resort is home to renowned Trestle bike park, and has been named as Colorado’s Top Adventure Town. For more information, visit www.winterparkresort.com. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: SR 410 Chinook Pass and SR 123 Cayuse Pass to remain closed for the season due to heavy snowfall, avalanche danger

    Source: Washington State News 2

    MOUNT RAINIER – State Routes 410 and 123, including Chinook Pass and Cayuse Pass within Mount Rainier National Park, will remain closed for the season due to heavy snowfall and avalanche danger.

    The Washington State Department of Transportation temporarily closed both passes on Oct. 31 for the safety of maintenance crews and travelers as road conditions deteriorated and the risk of avalanches increased.

     Chinook Pass (5,430 feet) and Cayuse Pass (4,675 feet) are closed between Crystal Mountain Boulevard, approximately 12 miles northwest of the summit near the Mount Rainier National Park boundary, and Morse Creek, five miles east of the summit.

    Over Nov. 2 – 3, Chinook Pass received over two feet of snow at the summit and more snow is forecasted for the week.

    Current weather and highway conditions are posted on the WSDOT mountain passes webpage and through the WSDOT app. Visit the Mount Rainier National Park’s road status webpage for updates about roads within Mount Rainier National Park. 

    MIL OSI USA News –

  • MIL-OSI Global: Mosquito season in southern Africa: tonic water and vitamins won’t protect you but knowing where the hotspots are will

    Source: The Conversation – Africa – By Shüné Oliver, Medical scientist, National Institute for Communicable Diseases

    While the emergence of colourful butterflies is a welcome sign of summer, the constant buzzing of mosquitoes is an annoying part of the season.

    Mosquitoes are more than just pests. They are the world’s most dangerous animal. Their presence signals the start of the malaria season in southern Africa.

    It is for this reason that the Southern African Development Community recognises the first week of November as SADC Malaria Week, with 6 November as SADC Malaria Day.

    During this week the dangers of malaria are highlighted. As South Africa edges closer towards malaria elimination, this has become more important as many South Africans are unaware of the malaria risk within the country’s borders.



    Read more:
    The seven steps South Africa is taking to get it closer to eliminating malaria

    Know your enemy

    Malaria is usually spread through a bite of an infected female Anopheles mosquito. In rare cases, malaria can spread through blood transfusions, organ transplants or sharing contaminated needles.

    There is also the possibility that mothers can pass on the disease to their babies while pregnant or during delivery.

    Mosquitoes that spread malaria are usually only active between dusk and dawn. Some mosquitoes, particularly the large black and white Aedes mosquitoes,
    are active during the day. These mosquitoes spread diseases like yellow fever and Zika.

    Although malaria-spreading mosquitoes are active at night, they are not the mosquitoes that make the annoying buzzing sound that prevents you from getting a peaceful night’s sleep.

    Instead, malaria mosquitoes are near-silent, often referred to as silent killers. Frequently, you only realise you have been bitten when it is too late.

    Most malaria vectors tend to bite and rest outdoors. This means that you have to take extra care when outdoors.

    Know your enemy’s whereabouts

    Malaria mosquitoes require specific environmental conditions to breed and survive.

    They are found in low-lying tropical areas in most southern African countries, with the exception of Lesotho and the Seychelles. Angola, the Democratic Republic of Congo, Malawi, Mozambique, Tanzania, Zambia and Zimbabwe have regions of high malaria risk.

    In South Africa, malaria is restricted to the low-lying border regions of northern KwaZulu-Natal, Mpumalanga and Limpopo provinces.

    Before visiting any of these areas, familiarise yourself with the malaria risk map for South Africa and take the appropriate precautions.

    In the southern hemisphere, the malaria risk is particularly high over the December holidays. This is due to the warm, wet weather conditions that favour mosquito growth.

    Over the past few years, the non-endemic South African province of Gauteng has reported a high number of
    cases. This can happen in any province: there have been incidents in the Eastern Cape and Western Cape, as well as the North-West.

    Most of these cases are imported from high-risk regions within
    and outside South Africa.

    A few rare cases are the result of odyssean malaria (also known as taxi or airport malaria).

    This happens throughout Africa. It is largely associated with migration. This happens when one or more malaria-carrying mosquitoes are accidentally transported from their natural home. They can then randomly infect people outside the malaria-risk area.

    When you have an unexplained fever in summer, think malaria. This is true even if you have not travelled to a malaria-risk area.

    It is especially important if you stayed near a major transport route or transport hub. These include places such as taxi ranks or bus depots.

    Know your enemy’s gameplan

    Malaria is preventable and treatable. The odds of a complete recovery are very high if a malaria infection is detected early. This is aided by prompt treatment with effective antimalarial medication.

    Symptoms of the milder version of malaria (uncomplicated malaria) are non-specific. This can include fever, headaches, sluggishness, nausea, and muscular/joint pains.

    Loss of consciousness, convulsions, jaundice and kidney failure are associated with the more severe, life threatening form of malaria.



    Read more:
    We’re a step closer to figuring out why mosquitoes bite some people and not others

    Keep yourself safe from the enemy

    The easiest way to prevent yourself from getting malaria is to avoid being bitten by an infected mosquito.

    If outdoors during the evening, wear long-sleeved shirts, trousers and socks, and use repellents that contain at least 30% of the insect repellent DEET.

    Doors and windows should be screened. Where possible, sleep under a bednet or in an air-conditioned room.

    In addition to these non-pharmaceutical measures, you can protect yourself by taking anti-malarial medications which you can get from a pharmacy or primary healthcare clinic.

    Discuss your anti-malarial options with a healthcare professional.

    Medication that prevents malaria does not mask the symptoms of the disease.

    The recommended treatment in South Africa, artemether-lumefantrine (Coartem), is highly effective. This is the most widely used malaria treatment across Africa.

    Know the myths about the enemy

    You cannot get malaria from drinking contaminated water or eating rotten fruit.

    There is limited evidence that vitamin-enriched products or home remedies containing natural products like citronella offer any protection against malaria.

    In addition, tonic water contains a very low concentration of antimalarial ingredients. It is therefore not possible for one person to drink sufficient quantities to protect against malaria.

    Crucially, one malaria infection will not keep you safe from future infections. You can get malaria more than once.

    Finally, always be aware – although the malaria risk is higher in summer, you can also get the disease in the dry season. You could also potentially be infected in any province due to an infected travelling mosquito.

    So if you have an unexplained fever, think malaria!

    Shüné Oliver receives funding from the National Research Foundation of South Africa, South African Medical Research Council and Female Academic Leadership Fellowship. She is affiliated with the National Institute for Communicable Diseases and the Wits Research Institute for Malaria.

    Jaishree Raman receives funding from the Bill and Melinda Gates Foundation, CHAI, the Global Fund, the National Institute for Communicable Disease, the National Research Foundation, the South African Medical Research Council, and the Research Trust. She is affiliated with the Wits Research Institute for Malaria and the University of Pretoria’s Institute for Sustainable Malaria Control.

    – ref. Mosquito season in southern Africa: tonic water and vitamins won’t protect you but knowing where the hotspots are will – https://theconversation.com/mosquito-season-in-southern-africa-tonic-water-and-vitamins-wont-protect-you-but-knowing-where-the-hotspots-are-will-242620

    MIL OSI – Global Reports –

  • MIL-OSI Global: Social media and generative AI can have a large climate impact – here’s how to reduce yours

    Source: The Conversation – UK – By Domenico Vicinanza, Associate Professor of Intelligent Systems and Data Science, Anglia Ruskin University

    CREATIVE WONDER / shutterstock

    On a train or bus, or just standing in a queue, the most common sight these days is the muted glow of a screen, and the flickering thumbs of people lost in the endless scroll on their smartphones.

    Across the world, about 62% of people are active social media users. In some countries, that figure is over 90%. That adds up to a lot of usage: the average UK adult spends 3 hours and 41 minutes online each day, which translates to around 56 days a year, almost two whole months.

    Every time we read an article, see an advertisement, watch a photo or video, that content needs to be transferred from the social media platform’s servers to our device. The larger the file, the more data needs to be transferred. And high-resolution images or long videos involve lots of data.

    That data is distributed across many “server farms” (typically housed in a large warehouse with thousands of computers) around the world. If you load a video from Youtube you don’t connect to a single “Youtube data HQ” somewhere in California, but will instead gather data from many different servers often in different countries or continents.

    Moving data across the internet requires energy, sending signals through various electronic devices, including routers, servers, and our own mobile phone or laptop. Each of these devices consumes energy to function, while servers need to be kept cool. And this energy is often generated from fossil fuels.

    Low-energy LinkedIn tops the charts.
    Greenspector, CC BY-SA

    Tiktok is the least eco-friendly of the social media platforms, according to a study of internet users in France run by Greenspector in 2021 and then updated in 2023.

    Simply scrolling through the app exchanges a lot of data as Tiktok is constantly running videos, including many preloaded in the background that you may never even see.

    At the end side of the spectrum is LinkedIn. As a text-based platform, with fewer photos and videos, scrolling through LinkedIn uses much less data.

    Generative AI is energy-hungry

    Social media is of course not the only offender. Generative AI, with its ability to create text, images, music and even videos, is completely reshaping lots of creative processes. But though it is appealing, and sometimes a necessity, it comes with an environmental price tag.

    Unsurprisingly, the more powerful the AI, the more energy it consumes. Unlike when you stream video or load a large web page, with generative AI most energy is used at their end, while processing your query. If you ask ChatGPT to write you a novel, the process of writing involves lots of calculations, even if the resulting text itself doesn’t use much data.

    Your request is being processed…
    Caureem / shutterstock

    All this of course raises critical questions about the sustainability of generative AI and about our own carbon footprints. The AI companies themselves are reluctant to tell us exactly how much energy they use, but they apparently can’t stop their own chatbots having a stab. I asked ChatGPT-4 “how much energy was used to process this query?” and it said “0.002 to 0.02 kWh”, which it said “would be similar to keeping a 60-watt bulb on for about 2 minutes”.

    This roughly matches numbers offered by independent analysis and is tens of times more energy than required for a Google search. With millions of queries per day to ChatGPT alone, it all adds up to a huge amount of additional energy use. As generative AI continues to evolve, the demand for energy will only increase.

    What you can do

    While the environmental impact of these technologies raises valid concerns, it’s also essential to recognise their benefits. To take one example, AI-assisted tools like text-to-speech, voice recognition and auto-captioning have already made society more inclusive particularly for disabled or neurodiverse people. I don’t want to suggest we scrap social media or reject generative AI entirely.

    But there are things we can do to reduce the carbon footprint of our internet use, involving a combination of individual actions and systemic changes. Here are some strategies we can all adopt:

    First, limit the screen time. This is the most obvious one. Reducing the amount of time spent on social media can directly decrease energy consumption.

    Second, use energy-saving settings on your devices, such as lowering screen brightness, using a dark background, and enabling power-saving modes.

    Third, consider choosing less energy-demanding social media, using environmental ranking information to inform the decision. That means more text, and less video and generative AI.

    Fourth, whenever possible, use wifi over 4G or 5G mobile data: wifi generally consumes less energy.

    So, next time we find ourselves scrolling endless sequences of pictures and videos, our face lit by the blue glow of our screens, let’s just stop for a second and start implementing those simple strategies, so we can enjoy the benefits of being connected, while minimising the impact on our planet resources. Ultimately, the choice is ours.

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

    – ref. Social media and generative AI can have a large climate impact – here’s how to reduce yours – https://theconversation.com/social-media-and-generative-ai-can-have-a-large-climate-impact-heres-how-to-reduce-yours-240661

    MIL OSI – Global Reports –

  • MIL-OSI Global: Doctors are already using AI in care – but we don’t actually know what safe use should look like

    Source: The Conversation – UK – By Mark Sujan, Chair in Safety Science, University of York

    It’s too soon to safely use GenAI in regular clinical practice. Josep Suria/ Shutterstock

    One in five UK doctors use a generative artificial intelligence (GenAI) tool – such as OpenAI’s ChatGPT or Google’s Gemini – to assist with clinical practice. This is according to a recent survey of around 1,000 GPs.

    Doctors reported using GenAI to generate documentation after appointments, help make clinical decisions and provide information to patients – such as comprehensible discharge summaries and treatment plans.

    Considering the hype around artificial intelligence coupled with the challenges health systems are facing, it’s no surprise doctors and policymakers alike see AI as key in modernising and transforming our health services.

    But GenAI is a recent innovation that fundamentally challenges how we think about patient safety. There’s still much we need to know about GenAI before it can be used safely in everyday clinical practice.

    The problems with GenAI

    Traditionally, AI applications have been developed to perform a very specific task. For example, deep learning neural networks have been used for classification in imaging and diagnostics. Such systems prove effective in analysing mammograms to aid in breast cancer screening.

    But GenAI is not trained to perform a narrowly defined task. These technologies are based on so-called foundation models, which have generic capabilities. This means they can generate text, pixels, audio or even a combination of these.

    These capabilities are then fine-tuned for different applications – such as answering user queries, producing code or creating images. The possibilities for interacting with this type of AI appear to be limited only by the user’s imagination.

    Crucially, because the technology has not been developed for use in a specific context or to be used for a specific purpose, we don’t actually know how doctors can use it safely. This is just one reason why GenAI isn’t suited for widespread use in healthcare just yet.

    Another problem in using GenAI in healthcare is the well documented phenomenon of “hallucinations”. Hallucinations are nonsensical or untruthful outputs based on the input that has been provided.

    Hallucinations have been studied in the context of having GenAI create summaries of text. One study found various GenAI tools produced outputs that made incorrect links based on what was said in the text, or summaries included information that wasn’t even referred to in the text.

    Hallucinations occur because GenAI works on the principle of likelihood – such as predicting which word will follow in a given context – rather than being based on “understanding” in a human sense. This means GenAI-produced outputs are plausible rather than necessarily truthful.

    This plausibility is another reason it’s too soon to safely use GenAI in routine medical practice.

    Generative AI functions on the basis of plausibility.
    egaranugrah/ Shutterstock

    Imagine a GenAI tool that listens in on a patient’s consultation and then produces an electronic summary note. On one hand, this frees up the GP or nurse to better engage with their patient. But on the other hand, the GenAI could potentially produce notes based on what it thinks may be plausible.

    For instance, the GenAI summary might change the frequency or severity of the patient’s symptoms, add symptoms the patient never complained about or include information the patient or doctor never mentioned.

    Doctors and nurses would need to do an eagle-eyed proofread of any AI-generated notes and have excellent memory to distinguish the factual information from the plausible – but made-up – information.

    This might be fine in a traditional family doctor setting, where the GP knows the patient well enough to identify inaccuracies. But in our fragmented health system, where patients are often seen by different healthcare workers, any inaccuracies in the patient’s notes could pose significant risks to their health – including delays, improper treatment and misdiagnosis.

    The risks associated with hallucinations are significant. But it’s worth noting researchers and developers are currently working on reducing the likelihood of hallucinations.

    Patient safety

    Another reason it’s too soon to use GenAI in healthcare is because patient safety depends on interactions with the AI to determine how well it works in a certain context and setting – looking at how the technology works with people, how it fits with rules and pressures and the culture and priorities within a larger health system. Such a systems perspective would determine if the use of GenAI is safe.

    But because GenAI isn’t designed for a specific use, this means it’s adaptable and can be used in ways we can’t fully predict. On top of this, developers are regularly updating their technology, adding new generic capabilities that alter the behaviour of the GenAI application.

    Furthermore, harm could occur even if the technology appears to work safely and as intended – again, depending on context of use.

    For example, introducing GenAI conversational agents for triaging could affect different patients’ willingness to engage with the healthcare system. Patients with lower digital literacy, people whose first language isn’t English and non-verbal patients may find GenAI difficult to use. So while the technology may “work” in principle, this could still contribute to harm if the technology wasn’t working equally for all users.

    The point here is that such risks with GenAI are much harder to anticipate upfront through traditional safety analysis approaches. These are concerned with understanding how a failure in the technology might cause harm in specific contexts. Healthcare could benefit tremendously from the adoption of GenAI and other AI tools.

    But before these technologies can be used in healthcare more broadly, safety assurance and regulation will need to become more responsive to developments in where and how these technologies are used.

    It’s also necessary for developers of GenAI tools and regulators to work with the communities using these technologies to develop tools that can be used regularly and safely in clinical practice.

    Mark Sujan is a member of the Centre for Assuring Autonomy, which is funded jointly by Lloyd’s Register Foundation and the University of York. He is author and Deputy Editor at BMJ Health & Care Informatics. The journal frequently publishes research on healthcare AI.

    – ref. Doctors are already using AI in care – but we don’t actually know what safe use should look like – https://theconversation.com/doctors-are-already-using-ai-in-care-but-we-dont-actually-know-what-safe-use-should-look-like-241175

    MIL OSI – Global Reports –

  • MIL-OSI: OnStation Welcomes Former Infotech VP Ward Zerbe to Accelerate Public Sector Adoption

    Source: GlobeNewswire (MIL-OSI)

    OnStation Announces Ward Zerbe as Their New Director of Public Sector Programs

    Ward adds over 40 years of wealth of industry knowledge and experience to the OnStation team.

    CLEVELAND, Nov. 04, 2024 (GLOBE NEWSWIRE) — OnStation, the leading provider of digital stationing solutions for the heavy highway industry, today announced the appointment of Ward Zerbe as its new Director of Public Sector Programs.

    With more than 40 years of experience of successfully driving innovation and delivering information technology solutions, Ward’s experience covers federal, state, local, and international government. Prior to OnStation, Ward spent over 20 years with Infotech, Inc in several roles driving business growth in the transportation infrastructure sector working with state and local governments and contractors. Most recently Ward was Infotech’s Executive Relationships Officer engaging senior customer and industry executives to develop long term relationships that span the transportation infrastructure industry. Previously, Ward served as the Vice President for the AASHTOWare Products Division overseeing the software development and maintenance, implementation services, and support for the AASHTOWare Project suite of applications for construction contract management. As an Account Manager at Infotech, he was instrumental in creating the account management structure that resulted in unprecedented growth.

    As the transportation construction industry continues to evolve, the necessity of accurate stationing data is critical to any construction project. It is central to construction administration, digital project delivery, eTicketing, and asset management. OnStation’s digital stationing tool has been embraced in the industry to provide a common, accurate reference from bidding through closeout. Now is the time to accelerate the presence of OnStation’s solutions wherever transportation infrastructure projects are executed.

    Ward brings a wealth of industry knowledge and experience as a trusted advisor to customers throughout the US. “After hearing about OnStation several times from various colleagues, my research led me to determine their solution was going to be a game changer. I see a lot of possibilities for the product even beyond its current use today. Also, OnStation has the right approach to working with public sector customers. I had to be a part of this important venture.”

    The opportunity to add Ward to the OnStation Team was an easy decision, said CEO Patrick Russo. “Ward originally connected with Dave Thomas, our Director of Business Development, and expressed interest in joining OnStation. After a couple of direct conversations, I could tell Ward fit into the OnStation culture of operating with high integrity and shared the same goals of continuing to transform our industry with innovative, worker first tools that easily tie stationing, documentation and inspection together. Full gas ahead!”

    For more information about OnStation and its solutions, please visit www.onstationapp.com.

    About Ward Zerbe

    Ward graduated from The George Washington University with a bachelor’s degree in business administration and information systems and he holds the PMP certification from the Project Management Institute. Ward’s career highlights include implementing the first nationwide network infrastructure for the Federal Highway Administration, delivering intelligent transportations systems for the Maryland Department of Transportation, and delivering a SaaS data analytics module as the capstone for AASHTOWare Project. Ward also spent a year overseas as an adviser to the Royal Thai Government implementing a project management system. For Ward, it’s the relationships that are key to making technology successful.

    Ward and his wife Kim have been married over 41 years and have 4 grown married children and 2 granddaughters. They enjoy traveling, making new friends, and working on their farm in Virginia.

    About OnStation

    OnStation is a collaborative digital stationing platform that offers location-based project records from bid to close. Specifically designed for the heavy highway industry, OnStation’s mobile app centralizes communication, boosts productivity, enhances worker safety, and improves project quality. Users benefit from live jobsite stationing, milepost, and LRS capabilities. They can overlay design layers on the project map and communicate via a custom chat platform that organizes and records project events at their locations. OnStation is available on both the Apple App Store and Google Play Store and is supported on all desktop systems.

    Contact
    Jessica Kodrich
    jkodrich@onstationapp.com 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6ecb230e-7164-403e-acbb-14bf56514960

    The MIL Network –

  • MIL-OSI: WISDOMTREE MULTI ASSET ISSUER PUBLIC LIMITED COMPANY (a public company incorporated with limited liability in Ireland) WISDOMTREE GOLD 3X DAILY SHORT SECURITIES ISIN: IE00B6X4BP29

    Source: GlobeNewswire (MIL-OSI)

    4 November 2024

    LSE Code: 3GOS

    WISDOMTREE MULTI ASSET ISSUER PUBLIC LIMITED COMPANY
    (a public company incorporated with limited liability in Ireland)
    WISDOMTREE GOLD 3X DAILY SHORT SECURITIES ISIN: IE00B6X4BP29

    RESULTS OF MEETING OF THE ETP SECURITYHOLDERS

    WisdomTree Multi Asset Issuer Public Limited Company (the “Issuer”) wishes to announce that the Extraordinary Resolution regarding the reduction in the principal amount of the WisdomTree Gold 3x Daily Short Securities (the “Affected Securities”) from USD 2 to USD 0.2, as set out in a notice to holders of the Affected Securities dated 18 September 2024, was passed at an adjourned meeting of the holders of the Affected Securities held at 11am on 4 November 2024.

    As a result, the Deed of Amendment has been duly executed by the Issuer, the Manager and the Trustee to put the proposed amendments to the Trust Deed into effect from 4 November 2024.

    The MIL Network –

  • MIL-OSI: Announcement of the total number of voting rights as at 31 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Regulated information, Leuven, 4 November 2024 (17.40 hrs CET)

    In application of Article 15 of the Act of 2 May 2007 on the disclosure of major shareholdings in issuers whose shares are admitted to trading on a regulated market, KBC Ancora publishes on its website and via a press release on a monthly basis the total capital, the movements in the total number of voting shares and the total number of voting rights, in so far as these particulars have changed during the preceding month.

    Situation as at 31 October 2024
    Total capital :         EUR 3,158,128,455.28
    Total number of voting shares :            77,011,844
    Number of shares with double voting rights :        39,855,415
    Total number of voting rights (= denominator) :        116,867,259

    The total number of voting rights (the ‘denominator’) serves as the basis for the disclosure of major shareholdings by shareholders.

    On the basis of this information, shareholders of KBC Ancora can verify whether they are above or below one of the thresholds of 3% (threshold set by the Articles of Association), 5%, 10%, and so on (in multiples of five) of the total voting rights, and whether there is therefore an obligation to notify the company that they have exceeded this threshold.

    ———————————

    KBC Ancora is a listed company which holds 18.6% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders ensures the shareholder stability and further development of the KBC group. As core shareholders of KBC Group, they have to this end signed a shareholder agreement.

    Financial calendar:
    31 January 2025                        Interim financial report 2024/2025
    29 August 2025                        Annual press release for the financial year 2024/2025
    23 September 2025 (17.40 CEST)        Annual report 2024/2025 available

    This press release is available in Dutch, French and English on the website www.kbcancora.be.

    KBC Ancora Investor Relations & Press contact: Jan Bergmans
    tel.: +32 (0)16 27 96 72 – e-mail: jan.bergmans@kbcancora.be or mailbox@kbcancora.be

    Attachment

    The MIL Network –

  • MIL-OSI: WISeKey Subsidiary WISeSat.Space Prepares for a January 2025 Launch of Next-Generation Satellite, Supporting European Satellite Independence and IoT Connectivity

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Subsidiary WISeSat.Space Prepares for a January 2025 Launch of Next-Generation Satellite, Supporting European Satellite Independence and IoT Connectivity

    Launch Timed with WISeKey’s Davos Roundtable on Space Technology

    Geneva, Switzerland – November 4, 2024: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a global leader in cybersecurity, digital identity, and Internet of Things (IoT) innovations operating as a holding company, today announces that its subsidiary, WISeSat.Space, is preparing for the mid-January 2025 launch of its next-generation satellite. This satellite, initially planned for Q4 2024, will now launch just days ahead of WISeKey’s January 22, 2025 event in Davos, which includes a roundtable focused on advancements in space technology.
    For more information about the Davos annual event visit: https://www.wisekey.com/davos25/howspacewillbethenextinternet/.

    This launch represents a significant development in WISeSat.Space’s mission to provide secure IoT connectivity, advance climate change monitoring capabilities, and support European satellite independence with cutting-edge technology.

    WISeSat.Space’s new generation of low-orbit satellites leverages compact picosatellites equipped with SEALSQ Corp. (“SEALSQ”) (NASDAQ: LAES) semiconductor technology and WISeKey’s renowned cryptographic keys. These integrated solutions enhance the security, performance, and resilience of satellite-based IoT systems, and support a diverse range of applications including environmental monitoring, disaster management, smart agriculture, and industrial IoT solutions. The satellites are specifically designed to support low-power sensors, enabling data collection in remote and off-grid areas. WISeSat.Space’s picosatellites, which are smaller and more cost-effective than traditional satellites, make global IoT connectivity feasible by reducing launch costs and optimizing data transmission. The satellite technology incorporates Quantum-Resistant cryptographic keys, and offers future-proof security against potential quantum computing threats, a step critical to the long-term security of global IoT ecosystems.

    An essential component of WISeSat.Space’s strategy is the creation of a European-based, neutral satellite constellation. By anchoring operations in Europe, WISeSat.Space is able to ensure data sovereignty and reduce reliance on non-European providers for critical IoT and environmental data. This independence not only strengthens data security but also allows for robust, unencumbered international cooperation. A neutral European constellation addresses global trust concerns, positioning Europe as a leader in secure and autonomous satellite technology. This approach further aligns with EU objectives for strategic autonomy and technological resilience, fostering economic growth and high-tech job creation within the region.

    The advanced satellite set for January 2025 launch includes key enhancements to bolster connectivity for diverse IoT applications. The satellites’ upgraded semiconductor technology, developed by SEALSQ, optimizes both processing and communication capabilities. This facilitates faster data relay and enhanced responsiveness, crucial for applications in real-time environmental monitoring, industrial automation, and smart agriculture. For climate change monitoring, the WISeSat constellation allows for the real-time tracking of environmental variables, enabling early detection and response to extreme weather events. The satellites contribute to disaster management through early warning systems, aiding vulnerable communities and ecosystems by providing timely, high-quality data. These capabilities not only support critical disaster preparedness but also allow policymakers to make informed decisions about climate resilience and adaptation.

    WISeSat.Space’s picosatellites employ a unique design focused on compactness and cost-effectiveness. Through the combination of low-orbit satellite networks and low-power, long-range sensors, WISeSat.Space provides a reliable network with low latency and high data accuracy—ideal for continuous tracking and monitoring across large, remote areas. These picosatellites are designed to operate with minimal power consumption, which is crucial for sustainable, long-term deployment in remote locations. Each satellite is embedded with WISeKey’s advanced cybersecurity protocols, ensuring that data is encrypted and secure from unauthorized access throughout its journey from sensor to end-user.

    The launch’s timing aligns with WISeKey’s annual event in Davos, where industry leaders, policymakers, and technologists will convene for a roundtable on space technology and its applications in IoT and climate monitoring. This roundtable will provide a platform to discuss how space-based systems can address global challenges and explore the role of satellite technology in building a sustainable and secure digital future. With the upcoming launch of this next-generation satellite, WISeSat.Space reaffirms its commitment to pioneering secure, scalable IoT solutions and advancing European autonomy in space technology. WISeKey looks forward to this critical addition to its constellation as it leverages space to enhance secure connectivity, climate resilience, and technological independence for the global community.

    About WISeSat.Space

    WISeSat AG is pioneering a transformative approach to IoT connectivity and climate change monitoring through its innovative satellite constellation. By providing cost-effective, secure, and global IoT connectivity, WISeSat is enabling a wide range of applications that support environmental monitoring, disaster management, and sustainable practices. The integration of satellite data with advanced climate models holds great promise for enhancing our understanding of climate change and developing effective strategies to combat its impacts. As the world continues to grapple with the challenges of climate change, initiatives like WISeSat’s IoT satellite constellation are essential for creating a more resilient and sustainable future.

    About WISeKEY:

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, and (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people.
    For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com
    Katie Murphy
    Tel: +1 212 836-9612 / kmurphy@equityny.com

    The MIL Network –

  • MIL-OSI: Gaia Partners with EigenLayer to Bring Powerful AVS Security to Decentralized AI

    Source: GlobeNewswire (MIL-OSI)

    By integrating Gaia’s AI Agent deployment framework with EigenLayer’s AVS security, developers can now build more secure, robust, incentive-aligned AI systems.

    NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) — Gaia, a decentralized, open-source AI infrastructure platform, is partnering with EigenLayer to integrate Gaia’s AI services with EigenLayer’s Active Validator Services (AVS) framework. This collaboration will enhance AI inferencing, enable multitoken staking, and deliver advanced security for decentralized AI applications.

    Gaia’s AI agents will integrate with EigenLayer’s AVS validators to monitor and provide security for nodes on the Gaia network. This system will ensure the accuracy of AI model updates, proper execution of AI tasks, and consistent node performance and uptime. Additionally, the partnership with EigenLayer will verify that AI Agents deployed on the Gaia network are behaving in a way that encourages positive actions across the network. By leveraging EigenLayer’s security infrastructure, Gaia can ensure that its AI tasks and models are safeguarded within a decentralized and secure environment.

    “At Gaia, we see AI’s future rooted in decentralization, security, and shared innovation,” said Matt Wright, CEO of Gaia. “Our collaboration with EigenLayer strengthens this vision by combining Gaia’s decentralized AI infrastructure with EigenLayer’s advanced security model. Together, we’re enabling developers to build intelligent, secure, and scalable applications that prioritize both transparency and community engagement within a trusted ecosystem.”

    The partnership will also allow for integrations between Gaia’s AI framework and EigenDA, a decentralized data availability network. This integration will enable shared datasets to be used for AI inference, improving both speed and accuracy. EigenLayer has already implemented a Gaia integration to filter user-submitted ideas on the EigenDA feedback board, demonstrating the practical impact of this collaboration.

    Gaia and EigenLayer will offer tools and SDKs to facilitate the deployment of AI-powered decentralized applications. These resources will allow developers to quickly and easily deploy AI dApps using both Gaia and EigenLayer, benefiting from streamlined, one-click deployment and security via EigenLayer’s AVS.

    By integrating with EigenLayer, Gaia aims to allow developers to build more secure and scalable AI-driven applications.

    To stay up-to-date on developments and opportunities through Gaia, follow Gaia on Twitter @Gaianet_AI and visit the website: www.Gaianet.ai.

    About Gaia
    Gaia is a pioneering decentralized AI platform dedicated to transforming knowledge into a dynamic, secure, and collaborative ecosystem. By addressing the issues introduced by centralized AI solutions, such as censorship, bias, and IP infringement, Gaia offers a knowledge-sharing ecosystem and foundation for new applications that protects information and rewards knowledge sharers. With a commitment to privacy, adaptability, and collaboration, Gaia is redefining the future of AI, making knowledge a vibrant, protected, and accessible resource for all.

    Website: www.Gaianet.ai
    Github: https://github.com/Gaia-AI
    Twitter: @Gaianet_AI

    About EigenLayer

    EigenLayer is a decentralized re-staking protocol that enhances the security and scalability of blockchain ecosystems by allowing Ethereum validators to extend their security guarantees to additional networks and services. By leveraging the existing Ethereum staking infrastructure, EigenLayer enables developers and decentralized applications to benefit from Ethereum’s robust security without the need to establish separate validator networks.

    Website: eigenlayer.xyz
    Twitter: @eigenlayer

    Contact:

    Gaia
    Ali Adkins
    Email: hello@gaianet.ai

    EigenLayer
    Nader
    nader@eigenlayer.xyz

    MEDIA CONTACT:
    Melrose PR
    gaia@melrosepr.com
    (310) 260-7901

    Disclaimer: This content is provided by Gaia. The statements, views and opinions expressed in this column are solely those of the content provider. 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. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/64c8ffe8-fb65-402d-bb30-0b7dde2b31fb

    The MIL Network –

  • MIL-OSI: Alpine Credits Ltd. Expands Philanthropic Efforts with $200,000 Initiative for Local Charities

    Source: GlobeNewswire (MIL-OSI)

    SURREY, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) — Alpine Credits Ltd., a leader in alternative home equity financing, is proud to announce its 2024 philanthropy initiative, committing up to $200,000 to charitable organizations through parent company Amur Financial Group.

    This initiative underscores the company’s dedication to making a meaningful impact in local communities across B.C.

    In its continuous effort to support those in need, Alpine Credits has chosen to collaborate with Mom2Mom Vancouver this year. This organization bridges the gap for mothers and children facing economic hardships by providing essential resources and fostering vital connections.

    “We pride ourselves on trying to make a difference in the lives of individuals and families within our community,” said the VP of Sales for Alpine Credits. “Our employees are passionate about giving back, and this initiative allows us to support causes that matter to them while helping organizations like Mom2Mom fulfill their mission.”

    The partnership with Mom2Mom Vancouver holds special significance, reflecting Alpine Credits’ commitment to social responsibility and enhancing community well-being. By assisting in the provision of essential resources, Alpine Credits aims to improve the lives of vulnerable families and ensure they receive the support needed during challenging times.

    Alpine Credits has a long-standing tradition of philanthropy, having previously raised over $80,000 for various organizations, including the Children’s Wish Foundation and Family Services of Greater Vancouver.

    In addition to Mom2Mom, Amur Financial Group, Alpine Credits’ parent company, is supporting three other charities that were selected by different teams across the organization.

    Since its inception in 1969, Alpine Credits has facilitated over $5 billion in home equity financing, establishing itself as Canada’s leading alternative lender.

    By unlocking the value of their homes, Canadians can meet financial obligations, fund renovations, and invest in new home repair projects.

    About Alpine Credits

    Alpine Credits is a leading provider of home equity financing solutions in Canada. With over 50 years of experience, the company focuses on providing quick support and flexible lending products, helping Canadians unlock the value of their homes.

    For more information, please visit Alpine Credits.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f0d483ff-6574-4cca-8093-219fa05a4970

    The MIL Network –

  • MIL-OSI: EXL to Participate in J.P. Morgan 2024 Ultimate Services Investor Conference

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) — ExlService Holdings, Inc. (NASDAQ: EXLS), a leading data analytics and digital operations and solutions company, today announced that Maurizio Nicolelli, executive vice president and chief financial officer, will participate in the J.P. Morgan 2024 Ultimate Services Investor Conference in New York. A simultaneous webcast will take place on Thursday, Nov. 14.

    J.P. Morgan Ultimate Services Investor Conference
    Presenter: Maurizio Nicolelli, CFO
    Date: Thursday, Nov. 14, 2024
    Time: 1:10 PM (Eastern)
    Location: New York, NY

    A link to the webcast is available in the Investor Relations section of EXL’s website at ir.exlservice.com. A replay will be available for approximately 30 days on the company’s website.

    About ExlService Holdings, Inc.
    EXL (Nasdaq: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 57,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Contacts:

    Investor Relations
    John Kristoff
    Vice President, Investor Relations
    +1 212 209 4613
    ir@exlservice.com

    Media – US
    Keith Little
    Assistant Vice President, Media Relations
    +1 703 598 0980
    media.relations@exlservice.com

    The MIL Network –

  • MIL-OSI: MARA Schedules Conference Call for Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Earnings Webcast and Conference Call Set for Tuesday, November 12, 2024 at 5:00 p.m. ET

    Fort Lauderdale, FL, Nov. 04, 2024 (GLOBE NEWSWIRE) — MARA (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, will hold a webcast and conference call on Tuesday, November 12, 2024 at 5:00 p.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2024. Financial results will be published in a shareholder letter prior to the call and available on the investor relations section of the Company’s website.

    To register to participate in the conference call or to listen to the live audio webcast, please use this link. The webcast will also be broadcast live and available for replay via the investor relations section of the Company’s website.

    Earnings Webcast and Conference Call Details
    Date: Tuesday, November 12, 2024
    Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
    Registration link: LINK

    If you have any difficulty connecting with the conference call, please contact MARA’s investor relations team at ir@mara.com.

    About MARA
    MARA (NASDAQ: MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value.

    For more information, visit www.mara.com, or follow us on:

    Twitter: @MARAHoldings
    LinkedIn: www.linkedin.com/company/marathon-digital-holdings 
    Facebook: www.facebook.com/MarathonDigitalHoldings 
    Instagram: @marathondigitalholdings

    MARA Company Contact:
    Telephone: 800-804-1690
    Email: ir@mara.com 

    MARA Media Contact:
    Email: mara@wachsman.com

    The MIL Network –

  • MIL-OSI: Intapp Announces First Quarter Fiscal Year 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • First quarter SaaS revenue of $76.9 million, up 30% year-over-year
    • Cloud annual recurring revenue (ARR) of $309.1 million, up 27% year-over-year
    • Trailing twelve months’ cloud net revenue retention rate as of September 30, 2024 was 119%

    PALO ALTO, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) — Intapp, Inc. (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, announced financial results for its fiscal first quarter ended September 30, 2024. Intapp also provided its outlook for the second quarter and updated outlook for the full fiscal year 2025.

    “We’re pleased to start the fiscal year––our fourth as a public company––with the launch of a new vertical AI solution aimed directly at the needs of our target market,” said John Hall, CEO of Intapp. “We are excited by the interest in our new product releases and the ability to support our clients as they move towards digitization and look to innovate through the use of advanced technology.”

    First Quarter of Fiscal Year 2025 Financial Highlights

    • SaaS revenue was $76.9 million, a 30% year-over-year increase compared to the first quarter of fiscal year 2024.
    • Total revenue was $118.8 million, a 17% year-over-year increase compared to the first quarter of fiscal year 2024.
    • Cloud ARR was $309.1 million as of September 30, 2024, a 27% year-over-year increase compared to Cloud ARR as of September 30, 2023. Cloud ARR represented 74% of total ARR as of September 30, 2024, compared to 69% as of September 30, 2023.
    • Total ARR was $417.2 million as of September 30, 2024, a 19% year-over-year increase compared to total ARR as of September 30, 2023.
    • GAAP operating loss was $(7.3) million, compared to a GAAP operating loss of $(14.0) million in the first quarter of fiscal year 2024.
    • Non-GAAP operating income was $15.1 million, compared to a non-GAAP operating income of $6.4 million in the first quarter of fiscal year 2024.
    • GAAP net loss was $(4.5) million, compared to a GAAP net loss of $(15.3) million in the first quarter of fiscal year 2024.
    • Non-GAAP net income was $16.8 million, compared to a non-GAAP net income of $4.6 million in the first quarter of fiscal year 2024.
    • GAAP net loss per share was $(0.06), compared to a GAAP net loss per share of $(0.22) in the first quarter of fiscal year 2024.
    • Non-GAAP diluted net income per share was $0.21, compared to a non-GAAP diluted net income per share of $0.06 in the first quarter of fiscal year 2024.

    Balance Sheet and Cash Flow Highlights

    • Cash and cash equivalents were $253.8 million as of September 30, 2024, compared to $208.4 million as of June 30, 2024.
    • For the three months ended September 30, 2024, net cash provided by operating activities was $24.4 million, compared to net cash provided by operating activities of $11.6 million for the three months ended September 30, 2023.

    Business Highlights

    • As of September 30, 2024, we served more than 2,600 clients, 707 of which each with contracts greater than $100,000 of ARR.
    • We upsold and cross-sold our existing clients such that our trailing twelve months’ cloud net revenue retention rate as of September 30, 2024 was 119%.
    • We continued to add new clients and expand existing accounts including Crete Professionals Alliance, an alliance of accounting and professional services firms, and private equity firms Alpaca Real Estate and NORD Holding.
    • We announced the availability of Intapp Assist for Terms, which expands generative AI functionality to Intapp’s compliance solutions.
    • Intapp DealCloud was named Deal Origination Solution of the Year at the 2024 Private Equity Wire U.S. Credit Awards.

    Second Quarter and Full Fiscal Year 2025 Outlook

      Fiscal 2025 Outlook
      Second Quarter Fiscal Year
      (in millions, except per share data)
    SaaS revenue $79.5 – $80.5 $327.6 – $331.6
    Total revenue $120.5 – $121.5 $495.5 – $499.5
    Non-GAAP operating income $14.0 – $15.0 $61.5 – $65.5
    Non-GAAP diluted net income per share $0.15 – $0.17 $0.73 – $0.77
     

    The guidance provided above constitutes forward-looking statements and actual results may differ materially. Refer to the “Forward-Looking Statements” safe harbor section below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.
    The information presented in this press release includes non-GAAP financial measures such as “non-GAAP operating income,” “non-GAAP net income,” and “non-GAAP diluted net income per share.” Refer to “Non-GAAP Financial Measures and Other Metrics” for a discussion of these measures and the financial tables below for reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.

    The guidance regarding non-GAAP operating income excludes known pre-tax charges related to estimated stock-based compensation of $23.3 million for the second quarter of fiscal year 2025 and $85.4 million for fiscal year 2025 and amortization of intangible assets of $2.9 million for the second quarter of fiscal year 2025 and $11.2 million for fiscal year 2025. The guidance regarding non-GAAP diluted net income per share excludes known pre-tax charges related to estimated stock-based compensation of $0.28 per share for the second quarter of fiscal year 2025 and $1.02 per share for fiscal year 2025 and amortization of intangible assets of $0.04 per share for the second quarter of fiscal year 2025 and $0.13 per share for fiscal year 2025. The Company has not included a quantitative reconciliation of its guidance for non-GAAP operating income and non-GAAP diluted net income per share to their most directly comparable GAAP financial measures, other than stock-based compensation and amortization of intangible assets, because certain of these reconciling items, including change in fair value of contingent consideration, transaction costs, restructuring and other costs and income tax effect of non-GAAP adjustments, could be highly variable and cannot be reasonably predicted without unreasonable effort. This is due to the inherent difficulty of forecasting the timing of certain events that have not yet occurred and are out of the Company’s control and the amounts of associated reconciling items. Please note that the unavailable reconciling items could significantly impact the Company’s GAAP operating results.

    Corporate Presentation

    A supplemental financial presentation and other information will be accessible through Intapp’s investor relations website at https://investors.intapp.com/.

    Webcast
    Intapp will host a conference call for analysts and investors on Monday, November 4, 2024, beginning at 2:00 p.m. PT (5:00 p.m. ET). The call will be webcast live via the “Investors” section of the Intapp company website at https://investors.intapp.com/. A replay of the call will be available through the Intapp website for 90 days.

    About Intapp

    Intapp software helps professionals unlock their teams’ knowledge, relationships, and operational insights to increase value for their firms. Using the power of Applied AI, we make firm and market intelligence easy to find, understand, and use. With Intapp’s portfolio of vertical SaaS solutions, professionals can apply their collective expertise to make smarter decisions, manage risk, and increase competitive advantage. The world’s top firms — across accounting, consulting, investment banking, legal, private capital, and real assets — trust Intapp’s industry-specific platform and solutions to modernize and drive new growth.

    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 our financial outlook for the second quarter and full fiscal year 2025, growth strategy, business plans and market position. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” “expand,” “outlook” 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: our ability to continue our growth at or near historical rates; our future financial performance and ability to be profitable; the effect of global events on the U.S. and global economies, our business, our employees, our results of operations, our financial condition, demand for our products, sales and implementation cycles, and the health of our clients’ and partners’ businesses; our ability to prevent and respond to data breaches, unauthorized access to client data or other disruptions of our solutions; our ability to effectively manage U.S. and global market and economic conditions, including inflationary pressures, economic and market downturns and volatility in the financial services industry, particularly adverse to our targeted industries; the length and variability of our sales cycle; our ability to attract and retain clients; our ability to attract and retain talent; our ability to compete in highly competitive markets, including AI products; our ability to manage additional complexity, burdens, and volatility in connection with our international sales and operations; the successful assimilation or integration of the businesses, technologies, services, products, personnel or operations of acquired companies; our ability to incur indebtedness in the future and the effect of conditions in credit markets; the sufficiency of our cash and cash equivalents to meet our liquidity needs; and our ability to maintain, protect, and enhance our intellectual property rights. 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 Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and any subsequent public filings. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Forward-looking statements speak only as of the date the statements are made and are based on information available to us at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. We assume no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    Presentation Changes Related to SaaS and License Revenue

    Effective July 1, 2024, the Company adjusted the classification of support services related to subscription license to be included within “license” on the unaudited condensed consolidated statements of operations. Prior to July 1, 2024, support services related to subscription license were included in a line item entitled “SaaS and Support.” Accordingly, effective July 1, 2024, SaaS revenues include subscription fees from clients accessing our SaaS solutions, premium support services related to SaaS, and updates, if any, to the subscribed service during the subscription term. There was no change to the Company’s revenue recognition policy, except for the change in classification noted herein.

    The presentation of cost of revenues has been conformed to reflect the changes related to the presentation of revenues. Such reclassifications related to the presentation of revenues and cost of revenues did not affect total revenues, operating income, or net income.

    Non-GAAP Financial Measures and Other Metrics

    This press release contains the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, and non-GAAP diluted net income per share. These non-GAAP measures exclude the impact of stock-based compensation, amortization of intangible assets, change in fair value of contingent consideration, transaction costs, restructuring and other costs and the income tax effect of non-GAAP adjustments. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.

    Free cash flow is a non-GAAP financial measure, and a supplemental liquidity measure that management uses to evaluate our core operating business and our ability to meet our current and future financing and investing needs. It consists of net cash provided by operating activities less cash paid for purchases of property and equipment. See below for a reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure.

    Other metrics include total ARR, Cloud ARR and cloud net revenue retention rate. Total ARR represents the annualized recurring value of all active SaaS and on-premise subscription license contracts at the end of a reporting period. Cloud ARR is the portion of the annualized recurring value of our active SaaS contracts at the end of a reporting period. Contracts with a term other than one year are annualized by taking the committed contract value for the current period divided by number of days in that period, then multiplying by 365. Cloud net revenue retention rate is the portion of our net revenue retention rate, which represents the net revenue retention of our SaaS contracts. We calculate Cloud net revenue retention by starting with the Cloud ARR from the cohort of all clients as of the twelve months prior to the applicable fiscal period, or prior period Cloud ARR. We then calculate the Cloud ARR from these same clients as of the current fiscal period, or current period Cloud ARR. We then divide the current period Cloud ARR by the prior period Cloud ARR to calculate the Cloud net revenue retention.

    We believe these non-GAAP financial measures and metrics provide useful information to investors as they are used by management to manage the business, make planning decisions, evaluate our performance, and allocate resources and provide useful information regarding certain financial and business trends relating to our financial condition and results of operations. These non-GAAP financial measures, which may be different than similarly-titled measures used by other companies, should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

    Guidance for non-GAAP financial measures excludes stock-based compensation expense and amortization of intangible assets. Non-GAAP diluted net income per share is calculated by dividing non-GAAP net income by the estimated diluted weighted average shares outstanding for the period.

    Investor Contact

    David Trone
    Senior Vice President, Investor Relations
    Intapp, Inc.
    ir@intapp.com

    Media Contact

    Ali Robinson
    Global Media Relations Director
    Intapp, Inc.
    press@intapp.com

    INTAPP, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited, in thousands, except per share data and percentages)
     
        Three Months Ended
    September 30,    		  
        2024     2023  
    Revenues            
    SaaS   $ 76,876     $ 58,913  
    License     28,492       28,051  
    Professional services     13,437       14,611  
    Total revenues     118,805       101,575  
    Cost of revenues            
    SaaS     15,318       12,711  
    License     1,752       1,702  
    Professional services     14,864       17,160  
    Total cost of revenues     31,934       31,573  
    Gross profit     86,871       70,002  
    Gross margin     73.1 %     68.9 %
    Operating expenses:            
    Research and development     32,427       28,496  
    Sales and marketing     37,760       34,419  
    General and administrative     23,938       21,052  
    Total operating expenses     94,125       83,967  
    Operating loss     (7,254 )     (13,965 )
    Interest and other income (expense), net     3,422       (943 )
    Net loss before income taxes     (3,832 )     (14,908 )
    Income tax expense     (688 )     (413 )
    Net loss   $ (4,520 )   $ (15,321 )
    Net loss per share, basic and diluted   $ (0.06 )   $ (0.22 )
    Weighted-average shares used to compute net loss per share, basic and diluted     75,604       68,937  
    INTAPP, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited, in thousands)
     
        September 30,
    2024    		     June 30,
    2024    		  
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 253,847     $ 208,370  
    Restricted cash     200       200  
    Accounts receivable, net     62,053       95,103  
    Unbilled receivables, net     12,777       13,300  
    Other receivables, net     2,732       2,743  
    Prepaid expenses     11,294       9,031  
    Deferred commissions, current     13,678       13,907  
    Total current assets     356,581       342,654  
    Property and equipment, net     19,441       18,944  
    Operating lease right-of-use assets     20,030       21,382  
    Goodwill     286,472       285,969  
    Intangible assets, net     37,291       40,293  
    Deferred commissions, noncurrent     17,057       18,495  
    Other assets     5,550       5,262  
    Total assets   $ 742,422     $ 732,999  
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Accounts payable   $ 16,013     $ 13,348  
    Accrued compensation     33,958       42,066  
    Accrued expenses     8,600       12,040  
    Deferred revenue, net     203,114       218,923  
    Other current liabilities     11,575       14,270  
    Total current liabilities     273,260       300,647  
    Deferred tax liabilities     1,298       1,336  
    Deferred revenue, noncurrent     2,097       3,563  
    Operating lease liabilities, noncurrent     18,626       19,605  
    Other liabilities     5,021       4,610  
    Total liabilities     300,302       329,761  
    Stockholders’ equity:            
    Common stock     78       75  
    Additional paid-in capital     934,585       891,681  
    Accumulated other comprehensive loss     (841 )     (1,336 )
    Accumulated deficit     (491,702 )     (487,182 )
    Total stockholders’ equity     442,120       403,238  
    Total liabilities and stockholders’ equity   $ 742,422     $ 732,999  
    INTAPP, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited, in thousands)
     
        Three Months Ended
    September 30,    		  
        2024     2023  
    Cash Flows from Operating Activities:            
    Net loss   $ (4,520 )   $ (15,321 )
    Adjustments to reconcile net loss to net cash provided by operating activities:            
    Depreciation and amortization     4,467       4,009  
    Amortization of operating lease right-of-use assets     1,280       1,130  
    Accounts receivable allowances     550       425  
    Stock-based compensation     19,989       18,757  
    Change in fair value of contingent consideration     (1,004 )     (1,431 )
    Deferred income taxes     (48 )     (113 )
    Other     38       38  
    Changes in operating assets and liabilities:            
    Accounts receivable     30,207       23,472  
    Unbilled receivables, current     523       (3,886 )
    Prepaid expenses and other assets     (2,568 )     (1,342 )
    Deferred commissions     1,667       121  
    Accounts payable and accrued liabilities     (8,060 )     (11,277 )
    Deferred revenue, net     (17,275 )     222  
    Operating lease liabilities     (1,331 )     (1,571 )
    Other liabilities     531       (1,621 )
       Net cash provided by operating activities     24,446       11,612  
    Cash Flows from Investing Activities:            
    Purchases of property and equipment     (354 )     (1,141 )
    Capitalized internal-use software costs     (1,534 )     (1,861 )
    Business combinations, net of cash acquired     (897 )     —  
       Net cash used in investing activities     (2,785 )     (3,002 )
    Cash Flows from Financing Activities:            
    Payments for deferred offering costs     —       (633 )
    Proceeds from stock option exercises     22,918       2,324  
    Payments of deferred contingent consideration and holdback associated with acquisitions     (1,387 )     —  
       Net cash provided by financing activities     21,531       1,691  
    Effect of foreign currency exchange rate changes on cash and cash equivalents     2,285       261  
       Net increase in cash, cash equivalents and restricted cash     45,477       10,562  
    Cash, cash equivalents and restricted cash – beginning of period     208,570       131,185  
    Cash, cash equivalents and restricted cash – end of period   $ 254,047     $ 141,747  
    INTAPP, INC.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
    (Unaudited, in thousands, except per share data and percentages)
     
    The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP financial measures for the periods indicated below:
     
    Non-GAAP Gross Profit
        Three Months Ended
    September 30,    		  
        2024     2023  
    GAAP gross profit   $ 86,871     $ 70,002  
    Adjusted to exclude the following:            
    Stock-based compensation     2,232       1,874  
    Amortization of intangible assets     1,571       1,055  
    Restructuring and other costs     10       —  
    Non-GAAP gross profit   $ 90,684     $ 72,931  
    Non-GAAP gross margin     76.3 %     71.8 %
    Non-GAAP Operating Expenses
        Three Months Ended
    September 30,    		  
        2024     2023  
    GAAP research and development   $ 32,427     $ 28,496  
    Stock-based compensation     (4,624 )     (4,646 )
    Restructuring and other costs     (48 )     —  
    Non-GAAP research and development   $ 27,755     $ 23,850  
                 
    GAAP sales and marketing   $ 37,760     $ 34,419  
    Stock-based compensation     (5,738 )     (5,339 )
    Amortization of intangible assets     (1,268 )     (1,487 )
    Non-GAAP sales and marketing   $ 30,754     $ 27,593  
                 
                 
    GAAP general and administrative   $ 23,938     $ 21,052  
    Stock-based compensation     (7,395 )     (6,898 )
    Amortization of intangible assets     (163 )     (163 )
    Change in fair value of contingent consideration     1,004       1,431  
    Transaction costs (1)     (134 )     (328 )
    Restructuring and other costs     (172 )     —  
    Non-GAAP general and administrative   $ 17,078     $ 15,094  
    Non-GAAP Operating Income
        Three Months Ended
    September 30,    		  
        2024     2023  
    GAAP operating loss   $ (7,254 )   $ (13,965 )
    Adjusted to exclude the following:            
    Stock-based compensation     19,989       18,757  
    Amortization of intangible assets     3,002       2,705  
    Change in fair value of contingent consideration     (1,004 )     (1,431 )
    Transaction costs (1)     134       328  
    Restructuring and other costs     230       —  
    Non-GAAP operating income   $ 15,097     $ 6,394  
    Non-GAAP Net Income
        Three Months Ended
    September 30,    		  
        2024     2023  
    GAAP net loss   $ (4,520 )   $ (15,321 )
    Adjusted to exclude the following:            
    Stock-based compensation     19,989       18,757  
    Amortization of intangible assets     3,002       2,705  
    Change in fair value of contingent consideration     (1,004 )     (1,431 )
    Transaction costs (1)     134       328  
    Restructuring and other costs     230       —  
    Income tax effect of non-GAAP adjustments     (1,024 )     (415 )
    Non-GAAP net income   $ 16,807     $ 4,623  
                 
    GAAP net loss per share, basic and diluted   $ (0.06 )   $ (0.22 )
    Non-GAAP net income per share, diluted   $ 0.21     $ 0.06  
                 
    Weighted-average shares used to compute GAAP net loss per share, basic and diluted     75,604       68,937  
    Weighted-average shares used to compute non-GAAP net income per share, diluted     81,538       79,567  
    Free Cash Flow
        Three Months Ended
    September 30,    		  
        2024     2023  
    Net cash provided by operating activities   $ 24,446     $ 11,612  
    Adjusted for the following cash outlay:            
    Purchases of property and equipment     (354 )     (1,141 )
    Free cash flow (2)   $ 24,092     $ 10,471  
     
    (1) Consists of acquisition-related transaction costs and costs related to certain non-capitalized offering-related expenses.
     
    (2) Beginning with the second quarter ended December 31, 2023, we have excluded capitalized internal-use software costs and cash paid for interest from the calculation of our free cash flow, which we believe better aligns with industry standard. Our free cash flow for prior period presented were recast to conform to the updated methodology and are reflected herein for comparison purposes.

    The MIL Network –

  • MIL-OSI: EverQuote Announces Record Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Revenue Exceeds 150% Year-Over-Year Growth to $144.5 million
    • Variable Marketing Margin Increases Over 125% Year-Over-Year to $43.9 million
    • Delivers Net Income of $11.6 million and Adjusted EBITDA of $18.8 million

    CAMBRIDGE, Mass., Nov. 04, 2024 (GLOBE NEWSWIRE) — EverQuote, Inc. (Nasdaq: EVER), a leading online insurance marketplace, today announced financial results for the third quarter ended September 30, 2024.

    “We delivered record third quarter results for revenue, Variable Marketing Margin, or VMM, and Adjusted EBITDA that once again exceeded the high-end of our guidance range,” said Jayme Mendal, CEO of EverQuote. “We continue to benefit from the auto industry recovery and strong execution.  We are strategically investing into this strengthening demand environment, as we continue to effectively optimize our traffic operations, improve our AI-powered bidding solutions, and roll-out our next generation agent technology platform.”

    “Our record third quarter financial results and cash flow are evidence that we are emerging from the auto insurance downturn as a stronger company due to our ability to efficiently scale, drive strong operational leverage, and maintain disciplined expense management,” said Joseph Sanborn, CFO of EverQuote.  “Looking ahead, we expect to build upon our strong performance this year, while judiciously investing to position ourselves as the leader in our industry.”

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

    • Total revenue of $144.5 million, an increase of 163%.
    • Automotive insurance vertical revenue of $130.0 million, up 202%, and representing 90% of revenue.
    • Home and renters insurance vertical revenue of $14.1 million, up 30% compared to $10.9 million.
    • VMM increased to $43.9 million, compared to VMM of $19.4 million.
    • GAAP net income improved to $11.6 million, compared to a GAAP net loss of $29.2 million.
    • Adjusted EBITDA increased to $18.8 million, compared to an Adjusted EBITDA loss of $1.9 million.
    • Cash flow from operations of $23.6 million, compared to cash flow from operations of ($4.1) million.
    • Ended the quarter with $82.8 million in cash and cash equivalents, an increase of 36% from $60.9 million at the end of the second quarter of 2024.

    Fourth Quarter 2024 Outlook:

    • Revenue of $131.0 – $136.0 million, representing 140% year-over-year growth at the midpoint.
    • Variable Marketing Margin of $38.0 – $40.0 million, representing 89% year-over-year growth at the midpoint.
    • Adjusted EBITDA of $14.0 – $16.0 million, versus a loss of ($0.9) million in the prior year’s period.

    With respect to the Company’s expectations under “Fourth Quarter 2024 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 third quarter 2024 financial results at 4:30 p.m. Eastern Time today, November 4, 2024. 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 quarterly report on Form 10-Q for the fiscal quarter ended September 30, 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 margin, 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 insurance marketplace, connecting consumers with insurance providers. Our vision is to become the largest online source of insurance policies by using data, technology, and knowledgeable advisors to make insurance simpler, more affordable, and personalized.

    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
    September 30,    		     Nine Months Ended
    September 30,    		  
      2024     2023     2024     2023  
      (in thousands except per share)  
    Revenue $ 144,530     $ 55,011     $ 352,735     $ 232,216  
    Cost and operating expenses(1):                              
    Cost of revenue   5,450       6,150       15,502       17,467  
    Sales and marketing   111,794       46,505       273,491       195,537  
    Research and development   8,026       6,270       21,913       21,647  
    General and administrative   7,594       5,741       22,105       19,339  
    Restructuring and other charges   —       19,757       —       23,589  
    Acquisition-related costs   —       —       —       (150 )
    Total cost and operating expenses   132,864       84,423       333,011       277,429  
    Income (loss) from operations   11,666       (29,412 )     19,724       (45,213 )
    Other income:                              
    Interest income   554       411       1,396       869  
    Other income, net   53       20       154       5  
    Total other income, net   607       431       1,550       874  
    Income (loss) before income taxes   12,273       (28,981 )     21,274       (44,339 )
    Income tax expense   (719 )     (236 )     (1,411 )     (600 )
    Net income (loss) $ 11,554     $ (29,217 )   $ 19,863     $ (44,939 )
    Net income (loss) per share:                              
    Basic $ 0.33     $ (0.87 )   $ 0.57     $ (1.36 )
    Diluted $ 0.31     $ (0.87 )   $ 0.54     $ (1.36 )
    Weighted average common shares outstanding:                              
    Basic   35,234       33,549       34,845       33,146  
    Diluted   37,214       33,549       36,509       33,146  
                                   
    (1) Amounts include stock-based compensation expense, as follows:          
      Three Months Ended
    September 30,    		     Nine Months Ended
    September 30,    		  
      2024     2023     2024     2023  
      (in thousands)  
    Cost of revenue $ 51     $ 57     $ 129     $ 170  
    Sales and marketing   1,837       2,216       5,083       6,761  
    Research and development   1,342       1,820       4,080       6,479  
    General and administrative   2,216       1,386       6,012       4,585  
    Restructuring and other charges   —       165       —       1,288  
      $ 5,446     $ 5,644     $ 15,304     $ 19,283  
                                   
    EVERQUOTE, INC.
    BALANCE SHEET DATA
     
      September 30,     December 31,  
      2024     2023  
      (in thousands)  
    Cash and cash equivalents $ 82,841     $ 37,956  
    Working capital   79,913       39,293  
    Total assets   180,539       110,925  
    Total liabilities   62,837       30,018  
    Total stockholders’ equity   117,702       80,907  
                   
    EVERQUOTE, INC.
    STATEMENTS OF CASH FLOWS
     
      Three Months Ended
    September 30,    		     Nine Months Ended
    September 30,    		  
      2024     2023     2024     2023  
      (in thousands)  
    Cash flows from operating activities:                              
    Net income (loss) $ 11,554     $ (29,217 )   $ 19,863       (44,939 )
    Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                              
    Depreciation and amortization expense   1,618       2,251       4,117       5,121  
    Stock-based compensation expense   5,446       5,644       15,304       19,283  
    Loss on sale of health assets   —       19,388       —       19,388  
    Impairment of right-of-use asset   —       384       —       384  
    Change in fair value of contingent consideration liabilities   —       —       —       (150 )
    Provision for bad debt   8       (38 )     16       186  
    Unrealized foreign currency transaction (gains) losses   59       (17 )     56       (1 )
    Changes in operating assets and liabilities:                              
    Accounts receivable   (219 )     (63 )     (27,079 )     7,267  
    Prepaid expenses and other current assets   (1,002 )     770       312       2,637  
    Commissions receivable, current and non-current   1,078       2,740       3,722       2,611  
    Operating lease right-of-use assets   590       632       1,842       2,006  
    Other assets   —       —       (291 )     36  
    Accounts payable   5,220       (2,217 )     29,703       (10,029 )
    Accrued expenses and other current liabilities   75       (3,791 )     1,113       (3,522 )
    Deferred revenue   (120 )     92       (93 )     34  
    Operating lease liabilities   (693 )     (705 )     (2,153 )     (2,348 )
    Net cash provided by (used in) operating activities   23,614       (4,147 )     46,432       (2,036 )
    Cash flows from investing activities:                              
    Acquisition of property and equipment, including costs capitalized for development of internal-use software   (1,489 )     (966 )     (3,111 )     (2,988 )
    Proceeds from sale of health assets   —       13,194       —       13,194  
    Net cash provided by (used in) investing activities   (1,489 )     12,228       (3,111 )     10,206  
    Cash flows from financing activities:                              
    Proceeds from exercise of stock options   288       —       2,902       340  
    Tax withholding payments related to net share settlement   (507 )     (67 )     (1,350 )     (299 )
    Net cash provided by (used in) financing activities   (219 )     (67 )     1,552       41  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash   16       (13 )     12       3  
    Net increase in cash, cash equivalentsand restricted cash   21,922       8,001       44,885       8,214  
    Cash, cash equivalents and restricted cash at beginning of period   60,919       31,048       37,956       30,835  
    Cash, cash equivalents and restricted cash at end of period $ 82,841     $ 39,049     $ 82,841     $ 39,049  
                                   
    EVERQUOTE, INC.
    FINANCIAL AND OPERATING METRICS
     
    Revenue by vertical:
     
      Three Months Ended September 30,     Change  
      2024     2023     %  
      (in thousands)          
    Automotive $ 130,005     $ 43,077       201.8 %
    Home and renters   14,142       10,889       29.9 %
    Other   383       1,045       -63.3 %
    Total revenue $ 144,530     $ 55,011       162.7 %
                           
      Nine Months Ended September 30,     Change  
      2024     2023     %  
      (in thousands)          
    Automotive $ 310,165     $ 182,520       69.9 %
    Home and renters   40,715       31,068       31.1 %
    Other   1,855       18,628       -90.0 %
    Total revenue $ 352,735     $ 232,216       51.9 %
                           

    Other financial and non-financial metrics:

      Three Months Ended September 30,     Change  
      2024     2023     %  
      (in thousands)          
    Income (loss) from operations $ 11,666     $ (29,412 )     -139.7 %
    Net income (loss) $ 11,554     $ (29,217 )     -139.5 %
    Variable marketing margin $ 43,931     $ 19,368       126.8 %
    Adjusted EBITDA(1) $ 18,783     $ (1,905 )   NM  
                         
      Nine Months Ended September 30,     Change  
      2024     2023     %  
      (in thousands)          
    Income (loss) from operations $ 19,724     $ (45,213 )     -143.6 %
    Net income (loss) $ 19,863     $ (44,939 )     -144.2 %
    Variable marketing margin $ 111,204     $ 79,614       39.7 %
    Adjusted EBITDA(1) $ 39,299     $ 1,347     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
    September 30,    		     Nine Months Ended
    September 30,    		  
      2024     2023     2024     2023  
      (in thousands)  
    Net income (loss) $ 11,554     $ (29,217 )   $ 19,863     $ (44,939 )
    Stock-based compensation   5,446       5,479       15,304       17,995  
    Depreciation and amortization   1,618       2,251       4,117       5,121  
    Restructuring and other charges   —       19,757       —       23,589  
    Acquisition-related costs   —       —       —       (150 )
    Interest income   (554 )     (411 )     (1,396 )     (869 )
    Income tax expense   719       236       1,411       600  
    Adjusted EBITDA $ 18,783     $ (1,905 )   $ 39,299     $ 1,347  

    The MIL Network –

  • MIL-OSI: NXP Semiconductors Reports Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    EINDHOVEN, The Netherlands, Nov. 04, 2024 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the third quarter, which ended September 29, 2024. “NXP delivered quarterly revenue of $3.25 billion, in-line with our overall guidance. While we experienced some strength against our expectations in the Communication Infrastructure, Mobile and Automotive end markets, we were confronted with increasing macro related weakness in the Industrial & IoT market. Our guidance for the fourth quarter reflects broader macro weakness especially in Europe and the Americas. We focus on managing what is in our control enabling NXP to drive resilient profitability and earnings in an uncertain demand environment,” said Kurt Sievers, NXP President and Chief Executive Officer.

    Key Highlights for the Third Quarter 2024:

    • Revenue was $3.25 billion, down 5 percent year-on-year;
    • GAAP gross margin was 57.4 percent, GAAP operating margin was 30.5 percent and GAAP diluted Net Income per Share was $2.79;
    • Non-GAAP gross margin was 58.2 percent, non-GAAP operating margin was 35.5 percent, and non-GAAP diluted Net Income per Share was $3.45;
    • Cash flow from operations was $779 million, with net capex investments of $186 million, resulting in non-GAAP free cash flow of $593 million;
    • During the third quarter of 2024, NXP continued to execute its capital return policy with the payment of $259 million in cash dividends, and the repurchase of $305 million of its common shares. The total capital return of $564 million in the quarter represented 95 percent of third quarter non-GAAP free cash flow. On a trailing twelve month basis, capital return to shareholders represented $2.4 billion or 87 percent of non-GAAP free cash flow. The interim dividend for the third quarter 2024 was paid in cash on October 9, 2024 to shareholders of record as of September 12, 2024. On August 29th, the NXP board of directors authorized an additional $2.0 billion for share repurchases, resulting in a $2.64 billion share repurchase balance at the end of the third quarter. Subsequent to the end of the third quarter, between September 30, 2024 and November 1, 2024, NXP executed via a 10b5-1 program additional share repurchases totaling $117 million;
    • On August 20, 2024, ESMC, the previously announced manufacturing joint venture between TSMC, Robert Bosch GmbH, Infineon Technologies AG and NXP Semiconductors N.V. held a groundbreaking ceremony to mark the initial phase of construction of its first semiconductor fab in Dresden, Germany;
    • On September 4, 2024, Vanguard International Semiconductor Corporation and NXP Semiconductors N.V. announced the receipt of all necessary governmental approvals from relevant authorities and injected capital to officially establish the previously announced VisionPower Semiconductor Manufacturing Company Pte Ltd (VSMC) manufacturing joint venture. The company will now proceed with the planned construction of VSMC’s first 300mm wafer manufacturing facility;
    • On September 10, 2024, NXP announced the Trimension® SR250, the industry’s first single-chip, UWB solution to enable Industrial and IoT applications that integrates on-chip processing capabilities with both short-range UWB-based radar and secure ranging;
    • On September 17, 2024, NXP announced the MC33777, the world’s first electric vehicle battery junction box IC that consolidates essential BMS functions into a single device; and
    • On September 24, 2024, NXP announced the new i.MX RT700 crossover MCU family, designed to power smart AI-enabled edge devices, such as wearables, consumer medical devices, smart home devices and HMI platforms.

    Summary of Reported Third Quarter 2024 ($ millions, unaudited) (1)

      Q3 2024
    		   Q2 2024
    		   Q3 2023    Q – Q   Y – Y
    Total Revenue $ 3,250     $ 3,127     $ 3,434     4%   -5%
    GAAP Gross Profit $ 1,866     $ 1,792     $ 1,965     4%   -5%
    Gross Profit Adjustments(i) $ (26 )   $ (41 )   $ (45 )        
    Non-GAAP Gross Profit $ 1,892     $ 1,833     $ 2,010     3%   -6%
    GAAP Gross Margin   57.4 %     57.3 %     57.2 %        
    Non-GAAP Gross Margin   58.2 %     58.6 %     58.5 %        
    GAAP Operating Income (Loss) $ 990     $ 896     $ 992     10%   —%
    Operating Income Adjustments(i) $ (163 )   $ (175 )   $ (211 )        
    Non-GAAP Operating Income $ 1,153     $ 1,071     $ 1,203     8%   -4%
    GAAP Operating Margin   30.5 %     28.7 %     28.9 %        
    Non-GAAP Operating Margin   35.5 %     34.3 %     35.0 %        
    GAAP Net Income (Loss) attributable to Stockholders $ 718     $ 658     $ 787          
    Net Income Adjustments(i) $ (172 )   $ (171 )   $ (178 )        
    Non-GAAP Net Income (Loss) Attributable to Stockholders $ 890     $ 829     $ 965          
    GAAP diluted Net Income (Loss) per Share(ii) $ 2.79     $ 2.54     $ 3.01          
    Non-GAAP diluted Net Income (Loss) per Share(ii) $ 3.45     $ 3.20     $ 3.70          
    Additional information
      Q3 2024
    		   Q2 2024
    		   Q3 2023
    		   Q – Q   Y – Y
    Automotive $ 1,829     $ 1,728     $ 1,891     6%   -3%
    Industrial & IoT $ 563     $ 616     $ 607     -9%   -7%
    Mobile $ 407     $ 345     $ 377     18%   8%
    Comm. Infra. & Other $ 451     $ 438     $ 559     3%   -19%
    DIO   149       148       134          
    DPO   60       64       60          
    DSO   30       27       25          
    Cash Conversion Cycle   119       111       99          
    Channel Inventory (weeks / months)   8 / 1.9       7 / 1.7       7 / 1.5          
    Gross Financial Leverage(iii)   1.9x       1.9x       2.1x          
    Net Financial Leverage(iv)   1.3x       1.3x       1.3x          
                                   
    1. Additional Information for the Third Quarter 2024:
      1. For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”.
      2. Refer to Table 1 below for the weighted average number of diluted shares for the presented periods.
      3. Gross financial leverage is defined as gross debt divided by trailing twelve months adjusted EBITDA.
      4. Net financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.

    Guidance for the Fourth Quarter 2024: ($ millions, except Per Share data) (1)

                  Guidance Range              
      GAAP   Reconciliation   non-GAAP
      Low   Mid   High       Low   Mid   High
    Total Revenue $3,000   $3,100   $3,200       $3,000   $3,100     $3,200
    Q-Q -8%   -5%   -2%       -8%   -5     -2%
    Y-Y -12%   -9%   -6%       -12%   -9     -6%
    Gross Profit $1,674   $1,746   $1,820   $(35)   $1,709   $1,781     $1,855
    Gross Margin 55.8%   56.3%   56.9%       57.0%   57.5%     58.0%
    Operating Income (loss) $810   $872   $936   $(184)   $994   $1,056     $1,120
    Operating Margin 27.0%   28.1%   29.3%       33.1%   34.1%     35.0%
    Financial Income (expense) $(87)   $(87)   $(87)   $(10)   $(77)   $(77)     $(77)
    Tax rate 17.2%-18.2%       16.3%-17.3%
    NCI & Other $(14)   $(14)   $(14)   $(3)   $(11)   $(11)     $(11)
    Shares – diluted 257.0   257.0   257.0       257.0   257.0     257.0
    Earnings Per Share – diluted $2.26   $2.46   $2.66       $2.93   $3.13     $3.33
                                 

    Note (1) Additional Information:

    1. GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(10) million; Share-based Compensation, $(15) million; Other Incidentals, $(10) million;
    2. GAAP Operating Income (loss) is expected to include PPA effects, $(39) million; Share-based Compensation, $(118) million; Restructuring and Other Incidentals, $(27) million;
    3. GAAP Financial Income (expense) is expected to include Other financial expense $(10) million;
    4. GAAP Non-Controlling Interest (NCI) and Other is expected to include results relating to non-foundry equity-accounted investees $(3) million;
    5. GAAP diluted EPS is expected to include the adjustments noted above for PPA effects, Share-based Compensation, Restructuring and Other Incidentals in GAAP Operating Income (loss), the adjustment for Other financial expense, the adjustment for Non-controlling interest & Other and the adjustment on Tax due to the earlier mentioned adjustments.

    NXP has based the guidance included in this release on judgments and estimates that management believes are reasonable given its assessment of historical trends and other information reasonably available as of the date of this release. Please note, the guidance included in this release consists of predictions only, and is subject to a wide range of known and unknown risks and uncertainties, many of which are beyond NXP’s control. The guidance included in this release should not be regarded as representations by NXP that the estimated results will be achieved. Actual results may vary materially from the guidance we provide today. In relation to the use of non-GAAP financial information see the note regarding “Non-GAAP Financial Measures” below. For the factors, risks, and uncertainties to which judgments, estimates and forward-looking statements generally are subject see the note regarding “Forward-looking Statements.” We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance set forth herein, to reflect future events or circumstances.

    Non-GAAP Financial Measures

    In managing NXP’s business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures, that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (“GAAP”). In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting NXP’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to core operating performance, certain non-cash expenses and share-based compensation expense, which may obscure trends in NXP’s underlying performance. This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management.

    These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).” Please refer to the NXP Historic Financial Model file found on the Financial Information page of the Investor Relations section of our website at https://investors.nxp.com for additional information related to our rationale for using these non-GAAP financial measures, as well as the impact of these measures on the presentation of NXP’s operations.

    In addition to providing financial information on a basis consistent with GAAP, NXP also provides the following selected financial measures on a non-GAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of acquisition-related intangible assets, (vi) Other income, (vii) Operating income (loss), (viii) Operating margin, (ix) Financial Income (expense), (x) Income tax benefit (provision), (xi) Results relating to non-foundry equity-accounted investees, (xii) Net income (loss) attributable to stockholders, (xiii) Earnings per Share – Diluted, (xiv) EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xv) free cash flow, trailing 12 month free cash flow and trailing 12 month free cash flow as a percent of Revenue. The non-GAAP information excludes, where applicable, the amortization of acquisition related intangible assets, the purchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration costs), certain items related to divestitures, share-based compensation expense, restructuring and asset impairment charges, extinguishment of debt, foreign exchange gains and losses, income tax effect on adjustments described above and results from non-foundry equity-accounted investments.

    The difference in the benefit (provision) for income taxes between our GAAP and non-GAAP results relates to the income tax effects of the GAAP to non-GAAP adjustments that we make and the income tax effect of any discrete items that occur in the interim period. Discrete items primarily relate to unexpected tax events that may occur as these amounts cannot be forecasted (e.g., the impact of changes in tax law and/or rates, changes in estimates or resolved tax audits relating to prior year tax provisions, the excess or deficit tax effects on share-based compensation, etc.).

    Conference Call and Webcast Information

    The company will host a conference call with the financial community on Tuesday, November 5, 2024 at 8:00 a.m. U.S. Eastern Standard Time (EST) to review the third quarter 2024 results in detail.

    Interested parties may preregister to obtain a user-specific access code for the call here.

    The call will be webcast and can be accessed from the NXP Investor Relations website at www.nxp.com. A replay of the call will be available on the NXP Investor Relations website within 24 hours of the actual call.

    About NXP Semiconductors

    NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $13.28 billion in 2023. Find out more at www.nxp.com.

    Forward-looking Statements

    This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results of operations, market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; our ability to successfully introduce new technologies and products; the demand for the goods into which NXP’s products are incorporated; trade disputes between the U.S. and China, potential increase of barriers to international trade and resulting disruptions to NXP’s established supply chains; the impact of government actions and regulations, including restrictions on the export of US-regulated products and technology; increasing and evolving cybersecurity threats and privacy risks, including theft of sensitive or confidential data; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity to meet both NXP’s debt service and research and development and capital investment requirements; our ability to accurately estimate demand and match our production capacity accordingly or obtain supplies from third-party producers to meet demand; our access to production capacity from third-party outsourcing partners, and any events that might affect their business or NXP’s relationship with them; our ability to secure adequate and timely supply of equipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our alliance partners; our ability to win competitive bid selection processes; our ability to develop products for use in customers’ equipment and products; the ability to successfully hire and retain key management and senior product engineers; global hostilities, including the invasion of Ukraine by Russia and resulting regional instability, sanctions and any other retaliatory measures taken against Russia and the continued hostilities and the armed conflict in the Middle East, which could adversely impact the global supply chain, disrupt our operations or negatively impact the demand for our products in our primary end markets; the ability to maintain good relationships with NXP’s suppliers; and a change in tax laws could have an effect on our estimated effective tax rate. In addition, this document contains information concerning the semiconductor industry, our end markets and business generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our end markets and business will develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.

    For further information, please contact:
       
    Investors: Media:
    Jeff Palmer Paige Iven
    jeff.palmer@nxp.com paige.iven@nxp.com
    +1 408 205 0687  +1 817 975 0602

    NXP-CORP

    NXP Semiconductors
    Table 1: Condensed consolidated statement of operations (unaudited)

    ($ in millions except share data) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
               
    Revenue $ 3,250     $ 3,127     $ 3,434  
    Cost of revenue   (1,384 )     (1,335 )     (1,469 )
    Gross profit   1,866       1,792       1,965  
    Research and development   (577 )     (594 )     (601 )
    Selling, general and administrative   (265 )     (270 )     (294 )
    Amortization of acquisition-related intangible assets   (29 )     (28 )     (71 )
    Total operating expenses   (871 )     (892 )     (966 )
    Other income (expense)   (5 )     (4 )     (7 )
    Operating income (loss)   990       896       992  
    Financial income (expense):          
    Extinguishment of debt   —       —       —  
    Other financial income (expense)   (82 )     (75 )     (75 )
    Income (loss) before income taxes   908       821       917  
    Benefit (provision) for income taxes   (173 )     (154 )     (123 )
    Results relating to equity-accounted investees   (6 )     (3 )     (2 )
    Net income (loss)   729       664       792  
    Less: Net income (loss) attributable to non-controlling interests   11       6       5  
    Net income (loss) attributable to stockholders   718       658       787  
               
    Earnings per share data:          
    Net income (loss) per common share attributable to stockholders in $
    Basic $ 2.82     $ 2.58     $ 3.06  
    Diluted $ 2.79     $ 2.54     $ 3.01  
               
    Weighted average number of shares of common stock outstanding during the period (in thousands):
    Basic   254,458       255,478       257,488  
    Diluted   257,717       258,732       261,095  
               

    NXP Semiconductors
    Table 2: Condensed consolidated balance sheet (unaudited)

    ($ in millions) As of
      September 29, 2024   June 30, 2024   October 1, 2023
    ASSETS          
    Current assets:          
    Cash and cash equivalents $ 2,748     $ 2,859     $ 4,042  
    Short-term deposits   400       400       —  
    Accounts receivable, net   1,070       927       939  
    Inventories, net   2,234       2,148       2,140  
    Other current assets   574       546       495  
    Total current assets   7,026       6,880       7,616  
               
    Non-current assets:          
    Other non-current assets   2,641       2,290       2,236  
    Property, plant and equipment, net   3,309       3,289       3,197  
    Identified intangible assets, net   735       796       1,010  
    Goodwill   9,958       9,941       9,937  
    Total non-current assets   16,643       16,316       16,380  
               
    Total assets   23,669       23,196       23,996  
               
    LIABILITIES AND EQUITY          
    Current liabilities:          
    Accounts payable   899       929       959  
    Restructuring liabilities-current   52       62       16  
    Other current liabilities   1,542       1,622       1,990  
    Short-term debt   499       499       999  
    Total current liabilities   2,992       3,112       3,964  
               
    Non-current liabilities:          
    Long-term debt   9,683       9,681       10,173  
    Restructuring liabilities   4       7       3  
    Deferred tax liabilities   57       48       44  
    Other non-current liabilities   1,189       1,003       1,014  
    Total non-current liabilities   10,933       10,739       11,234  
               
    Non-controlling interests   338       327       310  
    Stockholders’ equity   9,406       9,018       8,488  
    Total equity   9,744       9,345       8,798  
               
    Total liabilities and equity   23,669       23,196       23,996  
               

    NXP Semiconductors
    Table 3: Condensed consolidated statement of cash flows (unaudited)

    ($ in millions) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    Cash flows from operating activities:          
    Net income (loss) $ 729     $ 664     $ 792  
    Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:          
    Depreciation and amortization   218       213       273  
    Share-based compensation   115       114       103  
    Amortization of discount (premium) on debt, net   —       1       1  
    Amortization of debt issuance costs   2       1       2  
    Results relating to equity-accounted investees   6       3       2  
    (Gain) loss on equity securities, net   7       3       4  
    Deferred tax expense (benefit)   (40 )     (23 )     (33 )
    Changes in operating assets and liabilities:          
    (Increase) decrease in receivables and other current assets   (167 )     10       40  
    (Increase) decrease in inventories   (86 )     (46 )     (34 )
    Increase (decrease) in accounts payable and other liabilities   118       (220 )     (128 )
    (Increase) decrease in other non-current assets   (134 )     40       (49 )
    Exchange differences   7       5       5  
    Other items   4       (4 )     10  
    Net cash provided by (used for) operating activities   779       761       988  
    Cash flows from investing activities:          
    Purchase of identified intangible assets   (26 )     (55 )     (42 )
    Capital expenditures on property, plant and equipment   (186 )     (185 )     (200 )
    Proceeds from the disposals of property, plant and equipment   —       1       —  
    Purchase of investments   (159 )     —       (31 )
    Net cash provided by (used for) investing activities   (371 )     (239 )     (273 )
    Cash flows from financing activities:          
    Dividends paid to common stockholders   (259 )     (260 )     (262 )
    Proceeds from issuance of common stock through stock plans   39       3       36  
    Purchase of treasury shares and restricted stock unit
    withholdings    		   (305 )     (310 )     (306 )
    Other, net   (1 )     —       (1 )
    Net cash provided by (used for) financing activities   (526 )     (567 )     (533 )
    Effect of changes in exchange rates on cash positions   7       (4 )     (3 )
    Increase (decrease) in cash and cash equivalents   (111 )     (49 )     179  
    Cash and cash equivalents at beginning of period   2,859       2,908       3,863  
    Cash and cash equivalents at end of period   2,748       2,859       4,042  
               
    Net cash paid during the period for:          
    Interest   27       86       38  
    Income taxes, net of refunds   196       193       165  
    Net gain (loss) on sale of assets:          
    Cash proceeds from the sale of assets   —       1       —  
    Book value of these assets   —       (1 )     —  
    Non-cash investing activities:          
    Non-cash capital expenditures   125       166       167  
               

    NXP Semiconductors
    Table 4: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)

    ($ in millions except share data) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    GAAP Gross Profit $ 1,866     $ 1,792     $ 1,965  
    PPA Effects   (12 )     (12 )     (13 )
    Restructuring   —       (4 )     —  
    Share-based compensation   (14 )     (15 )     (14 )
    Other incidentals   —       (10 )     (18 )
    Non-GAAP Gross Profit $ 1,892     $ 1,833     $ 2,010  
    GAAP Gross margin   57.4 %     57.3 %     57.2 %
    Non-GAAP Gross margin   58.2 %     58.6 %     58.5 %
    GAAP Research and development $ (577 )   $ (594 )   $ (601 )
    Restructuring   —       (4 )     4  
    Share-based compensation   (58 )     (58 )     (53 )
    Other incidentals   —       —       (2 )
    Non-GAAP Research and development $ (519 )   $ (532 )   $ (550 )
    GAAP Selling, general and administrative $ (265 )   $ (270 )   $ (294 )
    PPA effects   (1 )     (1 )     (1 )
    Restructuring   —       2       —  
    Share-based compensation   (43 )     (41 )     (36 )
    Other incidentals   (2 )     (2 )     (4 )
    Non-GAAP Selling, general and administrative $ (219 )   $ (228 )   $ (253 )
    GAAP Operating income (loss) $ 990     $ 896     $ 992  
    PPA effects   (42 )     (41 )     (85 )
    Restructuring   —       (6 )     4  
    Share-based compensation   (115 )     (114 )     (103 )
    Other incidentals   (6 )     (14 )     (27 )
    Non-GAAP Operating income (loss) $ 1,153     $ 1,071     $ 1,203  
    GAAP Operating margin   30.5 %     28.7 %     28.9 %
    Non-GAAP Operating margin   35.5 %     34.3 %     35.0 %
    GAAP Income tax benefit (provision) $ (173 )   $ (154 )   $ (123 )
    Income tax effect   9       15       45  
    Non-GAAP Income tax benefit (provision) $ (182 )   $ (169 )   $ (168 )
    GAAP Net income (loss) attributable to stockholders $ 718     $ 658     $ 787  
    PPA Effects   (42 )     (41 )     (85 )
    Restructuring   —       (6 )     4  
    Share-based compensation   (115 )     (114 )     (103 )
    Other incidentals   (6 )     (14 )     (27 )
    Other adjustments:          
    Adjustments to financial income (expense)   (12 )     (8 )     (10 )
    Income tax effect   9       15       45  
    Results relating to equity-accounted investees, excluding Foundry investees1   (6 )     (3 )     (2 )
    Non-GAAP Net income (loss) attributable to stockholders $ 890     $ 829     $ 965  
               
               
    Additional Information:          
    1. Refer to Table 7 below for further information regarding the results relating to equity-accounted investees.
               
    GAAP net income (loss) per common share attributable to stockholders – diluted $ 2.79     $ 2.54     $ 3.01  
    PPA Effects   (0.16 )     (0.16 )     (0.33 )
    Restructuring   —       (0.02 )     0.01  
    Share-based compensation   (0.45 )     (0.44 )     (0.40 )
    Other incidentals   (0.02 )     (0.06 )     (0.10 )
    Other adjustments:          
    Adjustments to financial income (expense)   (0.05 )     (0.03 )     (0.03 )
    Income tax effect   0.04       0.06       0.17  
    Results relating to equity-accounted investees, excluding Foundry investees1   (0.02 )     (0.01 )     (0.01 )
    Non-GAAP net income (loss) per common share attributable to stockholders – diluted $ 3.45     $ 3.20     $ 3.70  
               
               
    Additional Information:          
    1. Refer to Table 7 below for further information regarding the results relating to equity-accounted investees.

    NXP Semiconductors
    Table 5: Financial Reconciliation of GAAP to non-GAAP Financial income (expense) (unaudited)

    ($ in millions) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    GAAP Financial income (expense) $ (82 )   $ (75 )   $ (75 )
    Foreign exchange loss   (3 )     (2 )     (3 )
    Other financial expense   (9 )     (6 )     (7 )
    Non-GAAP Financial income (expense) $ (70 )   $ (67 )   $ (65 )
               

    NXP Semiconductors
    Table 6: Financial Reconciliation of GAAP to non-GAAP Other income (expense) (unaudited)

    ($ in millions) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    GAAP Other income (expense) $ (5 )   $ (4 )   $ (7 )
    Other incidentals   (4 )     (2 )     (3 )
    Non-GAAP Other income (expense) $ (1 )   $ (2 )   $ (4 )
               

    NXP Semiconductors
    Table 7: Financial Reconciliation of GAAP to non-GAAP Results relating to equity-accounted investees (unaudited)

    ($ in millions) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    GAAP Results relating to equity-accounted investees $ (6 )   $ (3 )   $ (2 )
    Results of equity-accounted investees, excluding Foundry investees1   (6 )     (3 )     (2 )
    Non-GAAP Results relating to equity-accounted investees $ —     $ —     $ —  
               
    Additional Information:
    1. We adjust our results relating to equity-accounted investees for those results from investments over which NXP has significant influence, but not control, and whose business activities are not related to the core operating performance of NXP. Our equity-investments in foundry partners are part of our long-term core operating performance and accordingly those results comprise the Non-GAAP Results relating to equity-accounted investees.

    NXP Semiconductors
    Table 8: Adjusted EBITDA and Free Cash Flow (unaudited)

    ($ in millions) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    GAAP Net income (loss) $ 729     $ 664     $ 792  
    Reconciling items to EBITDA (Non-GAAP)          
    Financial (income) expense   82       75       75  
    (Benefit) provision for income taxes   173       154       123  
    Depreciation   149       146       163  
    Amortization   69       67       110  
    EBITDA (Non-GAAP) $ 1,202     $ 1,106     $ 1,263  
    Reconciling items to adjusted EBITDA (Non-GAAP)          
    Results of equity-accounted investees, excluding Foundry investees1   6       3       2  
    Restructuring   —       6       (4 )
    Share-based compensation   115       114       103  
    Other incidental items   6       14       27  
    Adjusted EBITDA (Non-GAAP) $ 1,329     $ 1,243     $ 1,391  
    Trailing twelve month adjusted EBITDA (Non-GAAP)   5,235       5,297       5,384  
               
               
    Additional Information:          
    1. Refer to Table 7 above for further information regarding the results relating to equity-accounted investees.
               
               
    ($ in millions) Three months ended
      September 29, 2024   June 30, 2024   October 1, 2023
    Net cash provided by (used for) operating activities $ 779     $ 761     $ 988  
    Net capital expenditures on property, plant and equipment   (186 )     (184 )     (200 )
    Non-GAAP free cash flow $ 593     $ 577     $ 788  
    Trailing twelve month non-GAAP free cash flow $ 2,759     $ 2,954     $ 2,568  
    Trailing twelve month non-GAAP free cash flow as percent of Revenue   21 %     23 %     20 %
               

    The MIL Network –

  • MIL-OSI: Reliance Global Group Schedules Third Quarter 2024 Financial Results and Business Update Conference Call

    Source: GlobeNewswire (MIL-OSI)

    Lakewood, NJ, Nov. 04, 2024 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance” or the “Company”), announced today that it will host a conference call Thursday, November 7, 2024, at 4:30 PM Eastern Time to discuss financial results for the third quarter of 2024 and provide a business update.

    The conference call will be available via telephone by dialing toll-free +1 877-545-0320 for U.S. callers or +1 973-528-0002 for international callers and entering access code 442767. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2381/51535 or on the investor relations section of the Company’s website, https://relianceglobalgroup.com/events-and-presentations/.

    A webcast replay will be available on the investor relations section of the Company’s website at https://relianceglobalgroup.com/events-and-presentations/ through November 7, 2025. A telephone replay of the call will be available approximately one hour following the call, through November 21, 2024, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 51535.

    About Reliance Global Group, Inc.

    Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance.  In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.

    Contact:

    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: RELI@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: American Coastal Insurance Corporation to Host Their 2024 Virtual Investor Day on December 4th at 11:00 a.m. ET

    Source: GlobeNewswire (MIL-OSI)

    ST. PETERSBURG, Fla., Nov. 04, 2024 (GLOBE NEWSWIRE) — American Coastal Insurance Corporation (Nasdaq Ticker: ACIC) (“the Company”, “American Coastal” or “ACIC”) the insurance holding company of American Coastal Insurance Company (“AmCoastal”), will host their 2024 Virtual Investor Day on Wednesday, December 4, 2024, at 11:00 a.m. Eastern Time.

    During the Investor Day, American Coastal’s management team will provide an in-depth presentation of the Company’s strategic initiatives, operation strategies, and financial outlook. The formal presentations will be followed by an interactive Q&A session.

    The event will be broadcast live via webcast in the Investor Relations section of the Company’s website at investors.amcoastal.com. A replay of the video broadcast will be available following the conclusion of the event.

    About American Coastal Insurance Corporation:
    American Coastal Insurance Corporation (amcoastal.com) is the holding company of the insurance carrier, American Coastal Insurance Company, which was founded in 2007 for the purpose of insuring Condominium and Homeowner Association properties, and apartments in the state of Florida. American Coastal Insurance Company has an exclusive partnership for distribution of Condominium Association properties in the state of Florida with AmRisc Group (amriscgroup.com), one of the largest Managing General Agents in the country specializing in hurricane-exposed properties. American Coastal Insurance Company has earned a Financial Stability Rating of “A”, Exceptional’ from Demotech, and maintains an “A-” insurance financial strength rating with a Stable outlook by Kroll. ACIC maintains a ‘BB+’ issuer rating with a Stable outlook by Kroll.

    Contact Information:                
    Alexander Baty                
    Vice President, Finance & Investor Relations, American Coastal Insurance Corporation
    investorrelations@amcoastal.com
    (727) 425-8076        

    Karin Daly
    Investor Relations, Vice President, The Equity Group
    kdaly@equityny.com
    (212) 836-9623

    The MIL Network –

  • MIL-OSI USA: MEDIA ADVISORY: Senate Study Committee on Artificial Intelligence to Hold Seventh Meeting

    Source: US State of Georgia

    ATLANTA (November 4, 2024) — On Friday, November 8th,2024, at 10:00 a.m., the Senate Study Committee on Artificial Intelligence, chaired by Sen. John Albers (R–Roswell), will hold its seventh hearing, in conjunction with the House Technology and Infrastructure Innovation Subcommittee on AI.

    EVENT DETAILS:                      

    • Date: Friday, November 8th, 2024
    • Time: 10:00 a.m.
    • Location: Emory University, 1365 Clifton Road, Atlanta GA 30322
    • This event is open to the public and will be live-streamed on the Georgia General Assembly website here.

    ABOUT THE MEETING:         

    The committee is tasked with promoting responsible innovation, competition, and collaboration in public and private sectors will allow Georgia to be a leader in ensuring that such technology will advance in a way that enforces the existing consumer protection laws and principles for its citizens while enacting any additional appropriate safeguards against, fraud, unintended bias, discrimination, infringements on privacy, and other potential harms from AI.

    MEDIA OPPORTUNITIES:

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

    # # # #

    Sen. John Albers serves as Chairman of the Senate Committee on Public Safety. He represents the 56th Senate District, which includes portions of Cherokee, Cobb, and North Fulton counties. He may be reached at his office at 404.463.8055 or by email at john.albers@senate.ga.gov.

    MIL OSI USA News –

  • MIL-OSI USA: Welch Awarded American Farm Bureau Federation’s “Friend of the Farm Bureau” Award 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    Welch Joins Vermont Farmers and Agriculture Leaders in Fairlee 
    FAIRLEE, VT – U.S. Senator Peter Welch (D-Vt.), Chair of the Senate Agriculture Subcommittee on Rural Development and Energy, was awarded the American Farm Bureau Federation’s “Friend of the Farm Bureau” Award for the 118th Congress for his leadership and commitment to Vermont’s farmers and rural communities. Senator Welch accepted the award at the Vermont Farm Bureau’s annual dinner in Fairlee. 
    “Agriculture is at the heart of what makes Vermont special— our sense of community, our working lands, and neighbors feeding neighbors. But this important part of our State’s culture has been threatened by market pressures and back-to-back floods, which have made it tough for rural families to make ends meet and farmers to stay in business. I’m fighting in Washington to help and will keep working to support Vermont farmers, farmworkers, and families,” said Senator Welch. 
    View photos from the event below: 

    Senator Welch earned the “Friend of the Farm Bureau” award for his dedication and commitment to Vermont’s farmers, agricultural industry, and rural communities. He was nominated by the Vermont Farm Bureau.  
    At the event, Senator Welch highlighted the urgent need to pass a bipartisan Farm Bill to help farmers keep farming and put food on the table for families across America. The Senate’s draft Farm Bill, the Rural Prosperity and Food Security Act, includes several priorities championed by Sen. Welch that will strengthen Vermont’s farms, rural communities, and families, including: 

    The Farmland Access Act, legislation to improve Agricultural Conservation Easement Program (ACEP) entity certification and buy-protect-sell provisions to help protect American farmland for its intended use and expand access to farming for the next generation. 

    The Future Farmers and Ranchers of Tomorrow Act, bicameral legislation to increase access to U.S. Department of Agriculture (USDA) programs for young and new farmers by revising USDA’s “qualified beginning farmer or rancher” definition to allow non-related beginning farmers and ranchers in joint entities to be eligible for FSA loans. 

    The O DAIRY Act, legislation to improve collection of organic dairy market data. 

    The ReConnecting Rural America Act, bipartisan legislation that would codify and clarify components of USDA’s ReConnect Loan and Grant Program and, in so doing, reduce red tape, and speed broadband deployment. 

    The Rural Prosperity and Food Security Act contains more than 100 pieces of legislation that aim to support our farms, create jobs, improve rural infrastructure, expand access to childcare and health care, support rural education and skills training, build out high-speed rural broadband, help build more affordable housing in rural America, assist homeowners and farms transition to greener energy and lower their utility bills, clean up our drinking water, conserve our land, and more.  

    MIL OSI USA News –

  • MIL-OSI United Nations: Leadership for Peace Means ‘Living Up to UN Charter’, Says Secretary-General at Security Council Debate

    Source: United Nations – Peacekeeping

    Following are UN Secretary-General António Guterres’ remarks to the Security Council’s high-level debate on “Leadership for peace:  united in respect of the UN Charter, in search of a secure future”, in New York today:

    I thank the Government of Slovenia for convening this high-level debate on Leadership for Peace.

    The topic is rooted in a fundamental truth:  Peace is never automatic.  Peace demands action.  And peace demands leadership.

    Instead, we’re seeing deepening geo-political divisions and mistrust.  Impunity is spreading, with repeated violations of international law and the UN Charter.   Conflicts are multiplying, becoming more complex and deadlier. All regions are affected.

    And civilians are paying the steepest price.  From Gaza to Ukraine to Sudan and beyond — wars grind on, suffering grows, hunger deepens, lives are upended, and the legitimacy and effectiveness of the United Nations, and this Council, are undermined.

    Leadership for peace requires action in at least two key areas.

    First — leadership for peace means all Member States living up to their commitments in the UN Charter, in international law and in recent agreements such as the Pact for the Future.

    Among other things, the Pact calls for strengthening tools and frameworks to prevent conflict, sustain peace and advance sustainable development, with the full, equal and meaningful participation of women.

    It calls for updating our tools for peace operations to allow for more agile, tailored responses to existing, emerging and future challenges.

    It reinforces the commitment to all human rights — civil, political, economic, social and cultural.

    It includes initiatives around disarmament, peacebuilding, and managing threats posed by lethal autonomous weapons and artificial intelligence and in new domains, including outer space and cyberspace.

    It calls for measures to quickly address complex global shocks. And it contains a new push to reform key institutions of global governance, including the global financial architecture and this very Council.

    The Pact is a down-payment on these reforms.  But we will need strong political will to implement them and rebuild the legitimacy and effectiveness of this Council.  Which brings me to my second point about leadership for peace.

    Leadership for peace means ensuring that the UN Security Council acts in a meaningful way to ease global tensions and help address the conflicts that are inflicting so much suffering around the world.

    Geopolitical divisions continue to block effective solutions.  A united Council can make a tremendous difference for peace.  A divided Council cannot.  It is imperative that Council Members spare no effort to work together to find common ground.  And it has proven capable of doing so in some key areas.

    From currently overseeing 11 peacekeeping operations on three continents, involving nearly 70,000 uniformed peacekeeping personnel…

    To resolutions that help keep vital humanitarian aid flowing to the world’s hotspots…

    To the landmark resolution 2719 (2023), which provides for African-Union led peace support operations authorized by the Council to have access to UN assessed contributions…

    To the groundbreaking resolutions that recognized the clear implications of peace and security challenges on the lives of women and youth…

    To this Council’s growing ties to regional and subregional organizations to foster consensus and peace.  These examples — and more — prove that forging peace is possible.

    When we consider the most difficult and intractable conflicts on this Council’s agenda, peace can seem an impossible dream.

    But I strongly believe that peace is possible if we stick to principles.  Peace in Ukraine is possible.  By following the UN Charter and abiding by international law.

    Peace in Gaza is possible.  By sparing no effort for an immediate ceasefire, the immediate release of all hostages, and the beginning of an irreversible process towards a two-State solution.

    Peace in Sudan is possible.  By sending a clear message to the warring parties that all Members of this Council — including the five permanent Members — will not tolerate the horrific violence and desperate humanitarian crisis being unleashed on innocent civilians.

    The situations on this Council’s agenda are complex and do not have quick fixes.  But the scale of the challenge should not deter us.  Our only hope for progress on peace is active collaboration and unity among Council Members.

    Today, I call on all Members to live up to this great responsibility, and to the promise of the UN Charter.  Contribute to this Council’s success — not its diminishment.  Let’s ensure that this Council serves as an effective and representative forum for peace — today and in the years to come.

    MIL OSI United Nations News –

  • MIL-OSI: TeraWulf Announces October 2024 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    Accelerating delivery of 72.5 MW high-performance computing (HPC) hosting capacity by end of Q2 2025

    8.1 EH/s of operational self-mining capacity, up 62% year-over-year

    EASTON, Md., Nov. 04, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today provided its unaudited monthly production and operations update for October 2024.

    October 2024 Production and Operations Highlights

    • Self-Mined Bitcoin: TeraWulf mined 150 bitcoin, with an average daily production rate of approximately 4.8 bitcoin.
    • Operating Capacity: The Company maintained 8.1 EH/s of operational self-mining capacity, reflecting a 62.0% increase year-over-year.
    • Power Cost: Achieved an average power cost of $36,789 per bitcoin mined, equivalent to approximately $0.048/kWh, excluding proceeds from demand response and ancillary services.
    • Miner Refresh Program: The miner refresh at Lake Mariner progressed with the replacement of older S19 Pro/J-Pro and M30s+ models with approximately 12,200 S19 XP miners received in connection with sale of the Company’s interest in the Nautilus Cryptomine facility.
    Key Metrics1 October 2024 September 2024
    Bitcoin Self-Mined Lake Mariner   150   140
    Bitcoin Self-Mined Nautilus2   —   36
    Value per Bitcoin Self-Mined3 $ 65,427 $ 60,168
    Power Cost per Bitcoin Self-Mined $ 36,789 $ 35,109
    Avg. Operating Hash Rate (EH/s)4   6.8   8.2
    Nameplate Miner Efficiency (J/TH)5   22.0   24.6

    Management Commentary

    “October marked another productive month, with TeraWulf mining 150 bitcoin and sustaining an average daily production of around 5 bitcoin,” said Sean Farrell, Senior Vice President of Operations at TeraWulf. “In line with our previously outlined plans, we are accelerating the transition to more efficient mining hardware by replacing older miners at Lake Mariner with S19 XP models. We are also working closely with Bitmain’s warranty department on a recovery plan to repair and replace 1.5 EH of mining equipment with a target completion by the end of the year. Furthermore, we have established a dedicated Business Development and Performance Optimization team, focused on integrating advanced IT and software solutions to improve our operational hash rate and overall efficiency. Building 5, which has been designed to handle higher heat exhaust of the latest generation miners, remains on track to be operational in Q1 2025.”

    Farrell added, “The proceeds from our recent sale of equity interest in Nautilus and successful convertible notes financing have positioned us to fast-track the expansion of our HPC and AI initiatives at Lake Mariner. We are targeting the delivery of 72.5 MW of HPC hosting capacity by the end of Q2 2025, which will allow us to meet the growing demand for high-performance computing solutions.”

    Production and Operations Update

    As of October 31, 2024, TeraWulf’s operational bitcoin mining capacity included 195 MW at the Lake Mariner facility. With the reinstallation of XP miners from Nautilus underway, the Company expects its total self-mining hash rate to increase to approximately 8.7 EH/s.

    In October, the Company’s miners operated at an average hash rate of 6.8 EH/s, with adjustments made for demand response events and performance optimization strategies to maximize profitability.

    On the WULF Compute front, TeraWulf continues its rapid progress in large-scale HPC hosting infrastructure at Lake Mariner. Notable progress includes the recent completion of a 2.5 MW HPC/AI proof-of-concept project designed to accommodate current and next-gen GPU technology. Additionally, construction of CB-1, a 20 MW HPC hosting facility with Tier 3-grade redundancy features, is on schedule for completion in Q1 2025. Preparations for CB-2, a 50 MW HPC hosting facility, are also progressing as key components have already been secured, ensuring timely delivery by the end of Q2 2025.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and high-performance computing. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including nuclear and hydroelectric power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com

    Media:
    media@terawulf.com

    1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indicators of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
    2 The Company sold its 25% equity interest in the Nautilus Cryptomine facility effective October 2, 2024.
    3 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
    4 While nameplate mining inventory as of October 31, 2024 for Lake Mariner is estimated at 8.1 EH/s, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS due to adverse weather and ASIC maintenance and repair. Performance in October is especially impacted by miner fleet upgrade work.
    5 Nameplate miner efficiency excludes auxiliary load.

    The MIL Network –

  • MIL-OSI: Phunware to Report Third Quarter 2024 Financial Results on Thursday, November 7, 2024

    Source: GlobeNewswire (MIL-OSI)

    Management to Host Business Update Conference Call on Thursday, November 7, 2024 at 4:30 p.m. ET

    AUSTIN, Texas, Nov. 04, 2024 (GLOBE NEWSWIRE) — Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, announces it will report third quarter 2024 financial results after the U.S. financial markets close on Thursday, November 7, 2024 and will host a live conference call at 4:30 p.m. ET to discuss the results, recent leadership changes, ongoing initiatives and upcoming milestones. Following management’s formal remarks, there will be a question-and-answer session.

    To listen to the conference call, interested parties within the U.S. should dial 1-888-506-0062 (domestic) or 973-528-0011 (international). All callers should dial in approximately 10 minutes prior to the scheduled start time and use Participant Access Code 704558 to be joined into the Phunware conference call.

    The conference call will also be available through a live webcast that can be accessed at Phunware 3Q24 Earnings Webcast. A webcast earnings call replay will be available approximately one hour after the live call until November 7, 2025 with this same weblink.

    A telephonic replay of the call will be available until November 21, 2024 by dialing 1-877-481-4010 (or 919-882-2331 for international callers) and using replay access code 51482.

    About Phunware

    Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.

    Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, digital asset holders, and market participants. Phunware is poised to expand its software products and services audience through its new platform, utilize and monetize its patents and other intellectual property, and reintroduce its digital asset ecosystem for existing holders and new market participants.

    For more information on Phunware, please visit www.phunware.com. To better understand and leverage generative AI and Phunware’s mobile app technologies, visit https://ai.phunware.com/advocacy.

    Safe Harbor / Forward-Looking Statements

    This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions are intended to identify forward-looking statements. For example, Phunware is using forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.

    The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. These forward-looking statements involve risks, uncertainties, and other assumptions that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC. We undertake no obligation to update any forward-looking statements.

    By their nature, forward-looking statements involve risks and uncertainties. We caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those expressed or implied by these forward-looking statements.

    Investor Relations Contact:

    Chris Tyson, Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    PHUN@mzgroup.us
    www.mzgroup.us

    Phunware Media Contact:

    Joe McGurk, Managing Director
    917-259-6895
    PHUN@mzgroup.us

    The MIL Network –