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Category: Business

  • MIL-OSI USA: Russian GRU Cyber Actors Targeting Western Logistics Entities and Tech Companies

    News In Brief – Source: US Computer Emergency Readiness Team

    Today, CISA, the National Security Agency, the Federal Bureau of Investigation, and other U.S. and international partners released a joint Cybersecurity Advisory, Russian GRU Targeting Western Logistics Entities and Technology Companies.  

    This advisory details a Russian state-sponsored cyber espionage-oriented campaign targeting technology companies and logistics entities, including those involved in the coordination, transport, and delivery of foreign assistance to Ukraine.

    Russian General Staff Main Intelligence Directorate (GRU) 85th Main Special Service Center, military unit 26165 cyber actors are using a mix of previously disclosed tactics, techniques, and procedures (TTPs) and are likely connected to these actors’ widescale targeting of IP cameras in Ukraine and bordering NATO nations.

    Executives and network defenders at logistics entities and technology companies should recognize the elevated threat of until 26165 targeting, increase monitoring and threat hunting for known TTPs and indicators of compromise, and posture network defenses with a presumption of targeting. For more information on Russian state-sponsored threat actor activity, see CISA’s Russia Cyber Threat Overview and Advisories page. 

    MIL OSI USA News –

  • MIL-OSI USA: DBEDT NEWS RELEASE: HAWAI‘I APRIL UNEMPLOYMENT RATE REMAINS AT 2.9 PERCENT

    Source: US State of Hawaii

    DBEDT NEWS RELEASE: HAWAI‘I APRIL UNEMPLOYMENT RATE REMAINS AT 2.9 PERCENT

    Posted on May 20, 2025 in Latest Department News, Newsroom

     

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

    DEPARTMENT OF BUSINESS, ECONOMIC DEVELOPMENT AND TOURISM

    KA ʻOIHANA HOʻOMOHALA PĀʻOIHANA, ʻIMI WAIWAI A HOʻOMĀKAʻIKAʻI

     

    RESEARCH AND ECONOMIC ANALYSIS DIVISION

     

    JAMES KUNANE TOKIOKA

    DIRECTOR

    KA LUNA HOʻOKELE

     

    1. EUGENE TIAN

    CHIEF STATE ECONOMIST

    HAWAI‘I APRIL UNEMPLOYMENT RATE REMAINS AT 2.9 PERCENT 

    Jobs Increased by 17,000 Year-Over-Year

    FOR IMMEDIATE RELEASE

    May 20, 2025

    HONOLULU — The Hawai‘i State Department of Business, Economic Development and Tourism (DBEDT) today announced that the seasonally adjusted unemployment rate for April was 2.9 percent, the same as in March. In April, 668,650 persons were employed and 19,650 were unemployed, for a total seasonally adjusted labor force of 688,300 statewide. Nationally, the seasonally adjusted unemployment rate was 4.2 percent in April, the same as in March.

    The unemployment rate figures for the state of Hawai‘i and the U.S. in this release are seasonally adjusted in accordance with U.S. Bureau of Labor Statistics (BLS) methodology. The not-seasonally adjusted rate for the state was 2.5 percent in April, compared to 2.4 percent in March.

    Industry Payroll Employment (Establishment Survey)

    In a separate measure of employment, total nonagricultural jobs increased by 1,500 month-over-month, from March 2025 to April 2025. Job gains were experienced in Leisure & Hospitality (+1,900); Private Education & Health Services (+1,100); Trade, Transportation & Utilities (+500); Professional & Business Services (+400); Construction (+300); and Information (+100). Within Leisure & Hospitality, the rise in employment primarily occurred in Food Services & Drinking Places. Within Private Education & Health Services, the bulk of job gains were spread out over the subsectors of Health Care & Social Assistance. Employment in Manufacturing remained unchanged. Job losses occurred in Financial Activities (-200); and Other Services (-200). Government employment went down by 2,400 jobs, primarily due to below average over-the-month change in staffing at both the Department of Education and the University of Hawai‘i system. Year-over-year, nonfarm jobs have gone up by 17,000, or 2.7 percent.

     

    Technical Notes:

    Labor Force Components

    The concepts and definitions used by the Local Area Unemployment Statistics (LAUS) program are the same as those used in the Current Population Survey for the national labor force data:

    • Civilian labor force. Included are all persons in the civilian noninstitutional population ages 16 and older classified as either employed or unemployed. (See the definitions below.)
    • Employed persons. These are all persons who, during the reference week (the week including the twelfth day of the month), (a) did any work as paid employees, worked in their own business or profession or on their own farm, or worked 15 hours or more as unpaid workers in an enterprise operated by a member of their family, or (b) were not working but who had jobs from which they were temporarily absent because of vacation, illness, bad weather, childcare problems, maternity or paternity leave, labor-management dispute, job training, or other family or personal reasons, whether or not they were paid for the time off or were seeking other jobs. Each employed person is counted only once, even if he or she holds more than one job.
    • Unemployed persons. Included are all persons who had no employment during the reference week, were available for work, except for temporary illness and had made specific efforts to find employment sometime during the four-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.
    • Unemployment rate. The unemployed percent of the civilian labor force [i.e., 100 times (unemployed/civilian labor force)].

    Seasonal Adjustment

    The seasonal fluctuations in the number of employed and unemployed persons reflect hiring and layoff patterns that accompany regular events such as the winter holiday season and the summer vacation season. These variations make it difficult to tell whether month-to-month changes in employment and unemployment are due to normal seasonal patterns or to changing economic conditions. Therefore, the BLS uses a statistical technique called seasonal adjustment to address these issues. This technique uses the history of the labor force data and the job count data to identify the seasonal movements and to calculate the size and direction of these movements. A seasonal adjustment factor is then developed and applied to the estimates to eliminate the effects of regular seasonal fluctuations on the data. Seasonally adjusted statistical series enable more meaningful data comparisons between months or with an annual average.

    Current Population (Household) Survey (CPS)

    A survey conducted for employment status in the week that includes the twelfth day of each month generates the unemployment rate statistics, which is a separate survey from the Establishment Survey that yields the industry job counts. The CPS survey contacts approximately 1,000 households in Hawai‘i to determine an individual’s current employment status. Employed persons consist of 1) all persons who did any work for pay or profit during the survey reference week, 2) all persons who did at least 15 hours of unpaid work in a family owned enterprise operated by someone in their household and 3) all persons who were temporarily absent from their regular jobs, whether they were paid or not. Persons considered unemployed are those that do not have a job, have actively looked for work in the prior four weeks and are available for work. Temporarily laid-off workers are counted as unemployed, whether or not they have engaged in a specific job-seeking activity. Persons not in the labor force are those who are not classified as employed or unemployed during the survey reference week.

    Benchmark Changes to Local Area Unemployment Statistics Data

    Statewide and sub-state data for 2019 to 2024 have revised inputs and data for 1990 to 2024 have been re-estimated to reflect revised population controls and model re-estimation.

    Change to Monthly Employment Estimates

    This release incorporates revised job count figures for the seasonally adjusted series. The revised data reflects historical corrections applied to unadjusted super sector or sector-level series dating back from 2018 through 2024. For years, analysts with the state of Hawai‘i Department of Labor and Industrial Relations Research and Statistics Office have developed monthly employment estimates for Hawai‘i and its metropolitan areas. These estimates were based on a monthly survey of Hawai‘i businesses and analysts’ knowledge about our local economies. Beginning with the production of preliminary estimates for March 2011, responsibility for the production of state and metropolitan area (MSA) estimates were transitioned from individual state agencies to the U.S. Bureau of Labor Statistics (BLS).

    For Hawai‘i, this means the transition of statewide, Honolulu and Kahului-Wailuku MSA estimates for both the seasonally adjusted and not-seasonally adjusted areas are produced by BLS. State agencies will continue to provide the BLS with information on local events that may affect the estimates, such as strikes or large layoffs/hiring at businesses not covered by the survey and to disseminate and analyze the Current Employment Statistics (CES) estimates for local data users. BLS feels this change is designed to improve the cost efficiency of the CES program and to reduce the potential bias in state and area estimates. A portion of the cost savings generated by this change is slated to be directed toward raising survey response rates in future years, which will decrease the level of statistical error in the CES estimates. Until then, state analysts feel this change could result in increased month-to-month variability for the industry employment numbers, particularly for Hawai‘i’s counties and islands. BLS can be reached at 202-691-6555 for any questions about these estimates.

    The not-seasonally adjusted job estimates for Hawai‘i County, Kaua‘i County, Maui, Moloka‘i and Lāna‘i are produced by the state of Hawai‘i Department of Business, Economic Development and Tourism.

    Labor Force Estimates for Small Areas

    Labor Force estimates for the islands within Maui County (Maui, Moloka‘i and Lānai) are produced by the state of Hawai‘i Department of Business, Economic Development and Tourism.

    Seasonally Adjusted Labor Force and Unemployment Estimates for Honolulu and Maui County

    BLS publishes smoothed seasonally adjusted civilian labor force and unemployment estimates for all metropolitan areas, which includes the City and County of Honolulu and Maui County.

    BLS releases this data each month in the Metropolitan Area Employment and Unemployment news release. The schedule is available at http://www.bls.gov/news.release/metro.toc.htm.

    Alternative Measures of Labor Underutilization

     

    Alternative Measures of Labor Underutilization for States, Second Quarter of 2024 through First Quarter of 2025 Averages  
    Area Measure  
    U-1 U-2 U-3 U-4 U-5 U-6
                 
    United States 1.5 2.0 4.1 4.3 5.0 7.7
                 
    Hawai‘i 0.7 1.2 3.0 3.1 3.9 6.2

     

    The six alternative labor underutilization state measures based on the Current Population Survey (CPS) and compiled on a four-quarter moving-average basis defined as:

    U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;

    U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;

    U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);

    U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;

    U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers*, as a percent of the civilian labor force plus all marginally attached workers; and

    U-6, total unemployed, plus all marginally attached workers, plus total employed part-time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.

    *Individuals who want and are available for work, and who have looked for a job sometime in the prior 12 months (or since the end of their last job if they had one within the past 12 months) but were not counted as unemployed because they had not searched for work in the four weeks preceding the survey, for such reasons as childcare or transportation problems, for example. Discouraged workers are a subset of the marginally attached.

    Please note that the state unemployment rates (U-3) that are shown are derived directly from the CPS. As a result, these U-3 measures may differ from the official state unemployment rates for the latest four-quarter period. The latter are estimates developed from statistical models that incorporate CPS estimates, as well as input data from other sources, such as state unemployment claims data.

    # # #

    Media contacts:

     

    Dr. Eugene Tian

    Chief State Economist

    Research and Economic Analysis Division

    Department of Business, Economic Development and Tourism, State of Hawai‘i

    Phone: 808-586-2470

    Email: [email protected]

    Laci Goshi

    Communications Officer

    Department of Business, Economic Development and Tourism, State of Hawai‘i

    Cell: 808-518-5480

    Email: [email protected]

    MIL OSI USA News –

  • MIL-OSI USA: Senator Hassan Slams GOP’s $490 Billion Medicare Cut in Tax Bill

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan
    WASHINGTON – U.S. Senator Maggie Hassan (D-NH), Ranking Member of the Senate Finance Subcommittee on Health, responded to a new analysis from the non-partisan Congressional Budget Office finding that the plan put forward by President Trump and Congressional Republicans to give corporate special interests and billionaires a tax break increases the deficit by $2.3 trillion, which will trigger a $490 billion automatic cut to Medicare over the next 10 years.
    “Seniors pay into Medicare their entire life, based on the promise that it will provide them with health care when they retire. It is absolutely ridiculous that Republicans want to take hundreds of billions of dollars away from Medicare in order to provide more tax giveaways to corporate special interests and billionaires,” said Senator Hassan, Ranking Member of the Senate Finance Subcommittee on Health. “At a time when we should be working to make health care more affordable, Congressional Republicans instead continue to push ahead with this partisan tax giveaway paid for by exploding the deficit and cutting Medicare, Medicaid, and Affordable Care Act, which will only increase health care costs for millions of Americans across the country.” 
    The non-partisan Congressional Budget Office analysis finds that because the Congressional Republican plan increases the deficit by $2.3 trillion, it will trigger automatic cuts of $490 billion to Medicare. More than 60 million American seniors are enrolled in Medicare. An additional recent non-partisan analysis of the Republican tax plan finds that the legislation will also result in 13.7 million Americans losing their health insurance by 2034 because of proposed cuts to Medicaid and the Affordable Care Act.  

    MIL OSI USA News –

  • MIL-OSI Europe: Written question – Can the Commission guarantee that citizens’ deposits will stay untouched under the Savings and Investments Union during emergencies such as nearby conflicts or new pandemics? – E-001893/2025

    Source: European Parliament

    Question for written answer  E-001893/2025
    to the Commission
    Rule 144
    Tiago Moreira de Sá (PfE), Hans Neuhoff (ESN), Filip Turek (PfE), Jorge Buxadé Villalba (PfE), Branko Grims (PPE), Dominik Tarczyński (ECR), Petr Bystron (ESN), Petar Volgin (ESN), Gheorghe Piperea (ECR), Stanislav Stoyanov (ESN), António Tânger Corrêa (PfE), Fernand Kartheiser (ECR), Petra Steger (PfE)

    The Savings and Investments Union (SIU) is a new strategy by the Commission aimed at ‘directing savings towards productive investments’. Given the public information, which has never been denied, that the SIU could involve channelling citizens’ deposits, we would like to ask for the following clarifications:

    • 1.Given that around EUR 10 trillion in low-yielding bank deposits could be transferred to higher-risk capital markets, how does the Commission intend to ensure that small savers and pensioners are not exposed to significant losses, and what concrete mechanisms will be implemented to prevent the marketing of high-risk investment products to these less informed citizens?
    • 2.In view of the undisputed information about the possibility of the ‘confiscation’ of savings to finance the defence sector, what measures is the Commission taking to clarify the real objectives of the SIU? Can the Commission guarantee that citizens’ deposits will not be mobilised, even in emergency situations such as armed conflicts in the vicinity of the EU or new pandemics, and how will the Commission ensure that this strategy fully respects national and individual sovereignty?

    Submitted: 12.5.2025

    Last updated: 21 May 2025

    MIL OSI Europe News –

  • MIL-OSI: BAWAG Group: Moody’s affirms ratings and changes outlook from stable to positive

    Source: GlobeNewswire (MIL-OSI)

    VIENNA, Austria – May 21, 2025 – Today, Moody’s announced that it affirms the ratings of BAWAG P.S.K. and changed the outlook on the long-term deposit, senior unsecured, and long-term issuer ratings from stable to positive.

    The positive outlook is a reflection of our to-be integrated recent acquisitions which show a steady business performance and could result in a sustainably improved financial profile.

    The release of Moody’s is available on our website https://www.bawaggroup.com.

    David O’Leary, Chief Risk Officer of BAWAG Group, commented: “The change to a positive outlook is a testament to our strategy focused on sustainable growth, efficiency and maintaining a safe and secure balance sheet. While our strategy has been unchanged since 2012, with the recent acquisitions, our business profile with focus on DACH/NL region as well as Retail & SME had been enhanced. The improved outlook highlights the resilience and stability of our business, with increased profitability after our acquisitions.”

    About BAWAG Group
    BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving our over 4 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Ireland, the United Kingdom, and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.

    BAWAG Group’s Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

    Forward-looking statement
    This release contains “forward-looking statements” regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management’s expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking “safe harbor provisions”.

    Financial Community:
    Jutta Wimmer (Head of Investor Relations)
    Tel: +43 (0) 5 99 05-22474

    IR Hotline: +43 (0) 5 99 05-34444
    E-mail: investor.relations@bawaggroup.com

    Media:
    Manfred Rapolter (Head of Corporate Communications & Social Engagement)
    Tel: +43 (0) 5 99 05-31210
    E-mail: communications@bawaggroup.com

    This text can also be downloaded from our website: https://www.bawaggroup.com

    The MIL Network –

  • MIL-OSI: United Fire Group, Inc. reports on annual meeting of shareholders

    Source: GlobeNewswire (MIL-OSI)

    Director elections to the board of directors announced

    Director elections to the board of directors

    CEDAR RAPIDS, Iowa, May 21, 2025 (GLOBE NEWSWIRE) — United Fire Group, Inc. (UFG) (Nasdaq: UFCS) announced today that its shareholders elected three Class B directors to its 11-member board of directors at the 2025 annual meeting of shareholders held on May 21, 2025.

    The following individuals were each elected as Class B directors to serve three-year terms expiring in 2028:

    • John-Paul Besong, retired chief information officer executive.
    • Matthew R. Foran, co-founder and president of Stoic Lane, Inc.
    • James W. Noyce, retired insurance and financial services executive.

    In other official business, shareholders:

    • Ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for 2025.
    • Approved, on an advisory basis, the compensation of the company’s named executive officers.

    About UFG

    Founded in 1946 as United Fire & Casualty Company, UFG, through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance. The company is licensed as a property and casualty insurer in 50 states and the District of Columbia, and is represented by approximately 1,000 independent agencies. AM Best assigns a rating of “A-” (Excellent) for members of the United Fire & Casualty Group. For more information about UFG, visit www.ufginsurance.com.

    Contact:

    Investor relations
    Email: ir@unitedfiregroup.com

    Media inquiries
    Email: news@unitedfiregroup.com

    The MIL Network –

  • MIL-OSI: Strong First Quarter Supports TrustCo’s Declaration of Dividend; Continues Reliable Payout

    Source: GlobeNewswire (MIL-OSI)

    GLENVILLE, N.Y., May 21, 2025 (GLOBE NEWSWIRE) — The Board of Directors of TrustCo Bank Corp NY (TrustCo, Nasdaq: TRST) on May 20, 2025, declared a quarterly cash dividend of $0.36 per share, or $1.44 per share on an annualized basis. The dividend will be payable on July 1, 2025 to shareholders of record at the close of business on June 6, 2025.

    Chairman, President, and Chief Executive Officer Robert J. McCormick said: “We often hear that people use our dividend to pay college tuition, fund retirements, and for other significant life events. The dividend declared this quarter is another in an uninterrupted series ongoing since 1904. We are very pleased that the Company’s excellent first-quarter performance enables us to make this distribution to our owners.”  

    About TrustCo Bank Corp NY

    TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company. Through its subsidiary, Trustco Bank, Trustco operates 136 offices in New York, New Jersey, Vermont, Massachusetts and Florida. Trustco has a more than 100-year tradition of providing high-quality services, including a wide variety of deposit and loan products. In addition, Trustco Bank’s Financial Services Department offers a full range of investment services, retirement planning and trust and estate administration services. Trustco Bank is rated as one of the best performing savings banks in the country. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST. For more information, visit www.trustcobank.com.

    Forward-Looking Statements
    All statements in this news release that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future developments, results or periods. TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made, and such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements. Examples of these include, but are not limited to: the effects of ongoing inflationary pressures and changes in monetary and fiscal policies and laws, including increases in the Federal funds target rate by, and interest rate policies of, the Federal Reserve Board; changes in and uncertainty related to benchmark interest rates used to price loans and deposits; instability in global economic conditions and geopolitical matters; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling;; the risks and uncertainties under the heading “Risk Factors” in our most recent annual report on Form 10-K and, if any, in our subsequent quarterly reports on Form 10-Q or other securities filings, including our upcoming annual report on Form 10-K for fiscal 2024; the other financial, operational and legal risks and uncertainties detailed from time to time in TrustCo’s cautionary statements contained in its filings with the Securities and Exchange Commission; and the effect of all of such items on our operations, liquidity and capital position, and on the financial condition of our borrowers and other customers. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

    Subsidiary: Trustco Bank

    Contact: Robert M. Leonard
      Executive Vice President
      (518) 381-3693
       

    The MIL Network –

  • MIL-OSI: Raj Judge Joins Zscaler’s Board of Directors and as EVP of Corporate Strategy & Ventures

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., May 21, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, is pleased to announce that Raj Judge has been appointed to the company’s Board of Directors and joined as Executive Vice President of Corporate Strategy and Ventures. In this role, Judge will lead the company’s growth strategy, business development, and venture investment initiatives to drive Zscaler to $5 billion in ARR and beyond.

    Judge brings over 25 years of experience in the tech legal and venture capital space, having previously served at Wilson Sonsini as Senior Partner and Co-Chair of the firm’s core practice, Emerging Companies and Venture Capital. Throughout his career, he has been instrumental in driving strategic growth, identifying emerging market opportunities, and creating solutions that have led to significant business growth for his clients.

    “Raj’s deep expertise in corporate strategy and investment, combined with his track record of success, makes him the ideal leader to drive Zscaler’s growth and innovation agenda,” said Jay Chaudhry, Chairman and CEO of Zscaler. “We are excited to welcome Raj to our leadership team and we look forward to the impact he will have on shaping the future of our company.”

    Judge will be responsible for key growth and investment opportunities as well as forging strategic initiatives. He will work closely with internal and external stakeholders to accelerate innovation and substantially broaden the company’s platform for Zscaler’s customers. The appointment of Judge to the Board further demonstrates the company’s dedication to advancing its corporate strategy and long-term vision.

    “I am excited to join Zscaler at such a pivotal time in its growth journey,” said Raj. “I look forward to bringing my experience and strategic skills to drive new initiatives and investments that will accelerate its continued success.”

    Forward-Looking Statements
    This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include the potential impact of the executive appointment to Zscaler’s future strategic investments and our ability to grow and scale. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. A significant number of factors could cause actual results to differ materially from statements made in this press release. Additional risks and uncertainties are set forth in our most recent Annual Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on May 29, 2025, which is available on our website at ir.zscaler.com and on the SEC’s website at www.sec.gov. Any forward-looking statements in this release are based on the limited information currently available to Zscaler as of the date hereof, which is subject to change, and Zscaler will not necessarily update the information, even if new information becomes available in the future.

    About Zscaler
    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

    Zscaler™, Zscaler Zero Trust Exchange™, Zscaler Internet Access™, and Zscaler Private Access™, ZIA™, and ZPA™ and Zscaler B2B™ are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.

    Media Contact
    Pavel Radda
    press@zscaler.com

    Investor Relations Contact
    Ashwin Kesireddy
    ir@zscaler.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96cf5114-9019-4fa0-abd7-c9d7346123a6

    The MIL Network –

  • MIL-OSI: Raj Judge Joins Zscaler’s Board of Directors and as EVP of Corporate Strategy & Ventures

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., May 21, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, is pleased to announce that Raj Judge has been appointed to the company’s Board of Directors and joined as Executive Vice President of Corporate Strategy and Ventures. In this role, Judge will lead the company’s growth strategy, business development, and venture investment initiatives to drive Zscaler to $5 billion in ARR and beyond.

    Judge brings over 25 years of experience in the tech legal and venture capital space, having previously served at Wilson Sonsini as Senior Partner and Co-Chair of the firm’s core practice, Emerging Companies and Venture Capital. Throughout his career, he has been instrumental in driving strategic growth, identifying emerging market opportunities, and creating solutions that have led to significant business growth for his clients.

    “Raj’s deep expertise in corporate strategy and investment, combined with his track record of success, makes him the ideal leader to drive Zscaler’s growth and innovation agenda,” said Jay Chaudhry, Chairman and CEO of Zscaler. “We are excited to welcome Raj to our leadership team and we look forward to the impact he will have on shaping the future of our company.”

    Judge will be responsible for key growth and investment opportunities as well as forging strategic initiatives. He will work closely with internal and external stakeholders to accelerate innovation and substantially broaden the company’s platform for Zscaler’s customers. The appointment of Judge to the Board further demonstrates the company’s dedication to advancing its corporate strategy and long-term vision.

    “I am excited to join Zscaler at such a pivotal time in its growth journey,” said Raj. “I look forward to bringing my experience and strategic skills to drive new initiatives and investments that will accelerate its continued success.”

    Forward-Looking Statements
    This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include the potential impact of the executive appointment to Zscaler’s future strategic investments and our ability to grow and scale. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. A significant number of factors could cause actual results to differ materially from statements made in this press release. Additional risks and uncertainties are set forth in our most recent Annual Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on May 29, 2025, which is available on our website at ir.zscaler.com and on the SEC’s website at www.sec.gov. Any forward-looking statements in this release are based on the limited information currently available to Zscaler as of the date hereof, which is subject to change, and Zscaler will not necessarily update the information, even if new information becomes available in the future.

    About Zscaler
    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

    Zscaler™, Zscaler Zero Trust Exchange™, Zscaler Internet Access™, and Zscaler Private Access™, ZIA™, and ZPA™ and Zscaler B2B™ are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.

    Media Contact
    Pavel Radda
    press@zscaler.com

    Investor Relations Contact
    Ashwin Kesireddy
    ir@zscaler.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96cf5114-9019-4fa0-abd7-c9d7346123a6

    The MIL Network –

  • MIL-OSI: LiveRamp Announces Fourth Quarter and Fiscal Year 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Q4 Revenue up 10% year-over-year

    FY25 Operating Cash Flow increases 46% year-over-year

    FY25 Share Repurchases totaled $101 million

    SAN FRANCISCO, May 21, 2025 (GLOBE NEWSWIRE) — LiveRamp® (NYSE: RAMP), a leading data collaboration platform, today announced its financial results for the quarter and fiscal year ended March 31, 2025.

    Q4 Financial Highlights1

    • Total revenue was $189 million, up 10%.
    • Subscription revenue was $145 million, up 9%.
    • Marketplace & Other revenue was $44 million, up 14%.
    • GAAP gross profit was $131 million, up 5%. GAAP gross margin of 69% compressed by 3 percentage points. Non-GAAP gross profit was $136 million, up 5%. Non-GAAP gross margin of 72% compressed by 3 percentage points.
    • GAAP operating loss was $12 million compared to $14 million. GAAP operating margin of negative 6% expanded by 2 percentage points. Non-GAAP operating income was $23 million compared to $16 million. Non-GAAP operating margin of 12% expanded by 3 percentage points.
    • GAAP diluted loss per share was $0.10 and non-GAAP diluted earnings per share was $0.30.
    • Net cash provided by operating activities was $63 million compared to $28 million.
    • Share repurchases in the fourth quarter totaled approximately 950 thousand shares for $25 million.

    Fiscal Year Financial Highlights1

    • Total revenue was $746 million, up 13%.
    • Subscription revenue was $569 million, up 11%, and represented 76% of total revenue.
    • Marketplace & Other revenue was $177 million, up 21%.
    • GAAP gross profit was $530 million, up 10%, and GAAP gross margin of 71% compressed by 2 percentage points. Non-GAAP gross profit was $550 million, up 12%, and non-GAAP gross margin of 74% compressed by 1 percentage point.
    • GAAP operating income was $5 million compared to $11 million. GAAP operating margin of 1% compressed by 1 percentage point. Non-GAAP operating income was $136 million compared to $105 million. Non-GAAP operating margin of 18% expanded by 2 percentage points.
    • GAAP diluted loss per share was $0.01, and non-GAAP diluted EPS was $1.70.
    • Net cash provided by operating activities was $154 million compared to $106 million.
    • Share repurchases in fiscal 2025 totaled approximately 3.8 million shares for $101 million. As of March 31, 2025, there was $256 million in remaining capacity under the share repurchase authorization that expires on December 31, 2026.

    A reconciliation between GAAP and non-GAAP results is provided in the schedules to this press release.

    Commenting on the results, CEO Scott Howe said: “We had a strong finish to fiscal 2025, with fourth quarter revenue and operating income exceeding our expectations, revenue growing at a double-digit rate and operating cash flow reaching a record high. As we enter fiscal 2026, more so than ever, we are focused on controlling what we can control: Making our platform faster and easier to use; rolling out new functionality, such as our new Cross Media Intelligence measurement solution; helping customers optimize ad spend by harnessing the power of our Data Collaboration Network; and, finally, prudently managing our own costs and growth investments. The near-term macro environment may be uncertain, but we remain confident that in the long-run we can drive sustained growth and shareholder value creation.”

    GAAP and Non-GAAP Results
    The following table summarizes the Company’s financial results for the fiscal 2025 fourth quarter and full year ended March 31, 2025 ($ in millions, except per share amounts):

           
      GAAP   Non-GAAP
      Q4 FY25 FY25   Q4 FY25 FY25
    Subscription revenue $145 $569   — —
    YoY change 9% 11%   — —
    Marketplace & Other revenue $44 $177   — —
    YoY change 14% 21%   — —
    Total revenue $189 $746   — —
    YoY change 10% 13%   — —
               
    Gross profit $131 $530   $136 $550
    % Gross margin 69% 71%   72% 74%
    YoY change (3 pts) (2 pts)   (3 pts) (1 pt)
               
    Operating income (loss) ($12) $5   $23 $136
    % Operating margin (6%) 1%   12% 18%
    YoY change 2 pts (1 pt)   3 pts 2 pts
               
    Net earnings (loss) ($6) ($1)   $20 $115
    Diluted earnings (loss) per share ($0.10) ($0.01)   $0.30 $1.70
               
    Shares to calculate diluted EPS 66.0 66.1   67.5 67.5
    YoY change (1%) (3%)   (1%) (1%)
               
    Net operating cash flow $63 $154   — —
    Free cash flow — —   $62 $153
               
    Totals may not sum due to rounding.
     
     

    A detailed discussion of our non-GAAP financial measures and a reconciliation between GAAP and non-GAAP results is provided in the schedules attached to this press release.

    Additional Business Highlights & Metrics

    • On February 25 we hosted an investor day presentation in San Francisco. The video replay, slide presentation and transcript are available on our investor relations website. Additionally, please see our investor day recap that highlights 10 interesting slides from the presentation, available here.
    • On February 25-27 we hosted our annual customer and partner conference, RampUp, in San Francisco, bringing together more than 2,500 leaders at the intersection of marketing, technology and data science. The event featured product demonstrations and 40+ panels and presentations featuring 110 leaders from some of the largest brands in the world, including Disney, Home Depot, P&G and Uber – to name a few. Video replays of these sessions are available here and an event recap for investors is available here.
    • On February 25 we announced Cross-Media Intelligence, a new capability that enables marketers to better measure and optimize campaigns anywhere their customers are. LiveRamp’s Cross-Media Intelligence is a premier solution for next-generation cross-media measurement, unifying insights across partners and datasets, and delivering actionable, repeatable insights with unmatched speed and precision. With Cross-Media Intelligence, marketers for the first time can access unified, deduplicated reporting across screens and platforms (additional information).
    • On April 22 Google announced that it will no longer roll out a new standalone prompt for consumers to opt-in to third-party cookie tracking on Chrome. LiveRamp’s mission remains the same: Enable best-in-class addressable reach and connectivity across every consumer experience by continuing to develop the largest and most useful data collaboration network. We will use cookies to extend reach on Chrome, while continuing to invest and expand our authenticated ecosystem across cookieless browsers (Safari, Firefox, and Edge), direct publisher integrations, CTV, mobile/gaming, and new AI integrations. Please see our blog post for additional information.
    • On March 6 we announced a workforce restructuring involving approximately 5% of our full-time employees. The restructuring is part of a broader strategic reprioritization to build a stronger, more profitable company by tightening our focus and simplifying and driving efficiency into our business processes. In the fourth quarter we incurred $7.2 million of restructuring and related charges primarily related to employee severance and benefits.
    • LiveRamp ended the year with 128 customers whose annualized subscription revenue exceeds $1 million, compared to 115 in the prior year.
    • LiveRamp ended the year with 840 direct subscription customers, compared to 900 in the prior year.
    • Fourth quarter subscription net retention was 104% and platform net retention was 106%.
    • Fourth quarter annualized recurring revenue (ARR), which is the last month of the quarter fixed subscription revenue annualized, was $504 million, up 8% compared to the prior year period.
    • Current remaining performance obligations (CRPO), which is contracted and committed revenue expected to be recognized over the next 12 months, was $471 million, up 14% compared to the prior year period.

    Financial Outlook

    LiveRamp’s non-GAAP operating income guidance excludes the impact of non-cash stock compensation, purchased intangible asset amortization, and restructuring and related charges.

    For the first quarter of fiscal 2026, LiveRamp expects to report:

    • Revenue of $191 million, an increase of 9%
    • GAAP operating loss of $33 million
    • Non-GAAP operating income of $6 million

    For fiscal 2026, LiveRamp expects to report:

    • Revenue of between $787 million and $817 million, an increase of between 6% and 10%
    • GAAP operating loss of between $178 million and $182 million
    • Non-GAAP operating income of between $85 million and $89 million

    Conference Call

    LiveRamp will hold a conference call today at 1:30 p.m. PT (4:30 p.m. ET) to further discuss this information. Interested parties are invited to listen to a webcast of the conference, which can be accessed on LiveRamp’s investor site. A slide presentation will be referenced during the call and is available here.

    About LiveRamp

    LiveRamp is a leading data collaboration technology company, empowering marketers and media owners to deliver and measure marketing performance everywhere it matters. LiveRamp’s data collaboration network seamlessly unites data across advertisers, platforms, publishers, data providers, and commerce media networks—unlocking deep insights, delivering transformational consumer experiences, and driving measurable growth.

    Built on a foundation of strict neutrality, interoperability, and global scale, LiveRamp enables organizations to maximize the value of their data while accelerating innovation. Trusted by many of the world’s leading brands, retailers, financial services providers, and healthcare innovators, LiveRamp is helping shape the future of responsible data collaboration in an AI-driven, outcomes-focused world where advertisers reach intended audiences and consumers receive more relevant advertising messages.

    LiveRamp is headquartered in San Francisco, California, with offices worldwide. Learn more at LiveRamp.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the “PSLRA”). Forward-looking statements are often identified by words or phrases such as “anticipate,” “estimate,” “plan,” “expect,” “believe,” “intend,” “foresee,” or the negative of these terms or other similar variations thereof, but the absence of these words does not mean that a statement is not forward-looking. These statements, which are not statements of historical fact, include, but are not limited to, the Company’s guidance regarding revenue, GAAP operating loss and Non-GAAP operating income for the first quarter and full year of fiscal 2026 and other similar estimates, assumptions, forecasts, projections and expectations regarding market position, product development, growth opportunities, economic conditions and other future events and trends.

    These forward-looking statements are not guarantees of future performance and are subject to a number of factors and uncertainties that could cause the Company’s actual results and experiences to differ materially from the anticipated results and expectations expressed in the forward-looking statements.

    Among the factors that may cause actual results and expectations to differ from anticipated results and expectations expressed in forward-looking statements are economic uncertainties that could impact us or our suppliers, customers and partners, including, geo-political circumstances, including risk related to tariffs and other trade restrictions, the possibility of a recession, general inflationary pressure and high interest rates; the ability and willingness of our customers to renew their agreements with us upon their expiration; our ability to add new customers and upsell within our subscription business; our reliance upon partners, including data suppliers, who may withdraw or withhold data from us; increased competition and rapidly changing technology that could impact our products and services; the risk that we fail to realize the potential benefits of or have difficulty integrating acquired businesses; and our inability to attract, motivate and retain talent. Additional risks include maintaining our culture and our ability to innovate and evolve while operating in a hybrid work environment, with some employees working remotely at least some of the time within a rapidly changing industry, while also avoiding disruption from reductions in our current workforce as well as disruptions resulting from acquisition, divestiture and other activities affecting our workforce. Our global workforce strategy could possibly encounter difficulty and not be as beneficial as planned. Our international operations are also subject to risks, including the performance of third parties as well as impacts from war and civil unrest, that may harm the Company’s business. The risk of a significant breach of the confidentiality of the information or the security of our or our customers’, suppliers’, or other partners’ data and/or computer systems, or the risk that our current insurance coverage may not be adequate for such a breach, that an insurer might deny coverage for a claim or that such insurance will continue to be available to us on commercially reasonable terms, or at all, could be detrimental to our business, reputation and results of operations. Other business risks include unfavorable publicity and negative public perception about our industry; interruptions or delays in service from data center or cloud hosting vendors we rely upon; and our dependence on the continued availability of third-party data hosting and transmission services. Our clients’ ability to use data on our platform could be restricted if the industry’s use of third-party cookies and tracking technology declines due to technology platform changes, regulation or increased user controls. Continued changes in the judicial, legislative, regulatory, accounting, cultural and consumer environments affecting our business, including but not limited to litigation, investigations, legislation, regulations and customs at the state, federal and international levels relating to information collection and use represents a risk, as well as changes in tax laws and regulations that are applied to our customers which could cause enterprise software budget tightening. In addition, third parties may claim that we are infringing their intellectual property or may infringe our intellectual property which could result in competitive injury and / or the incurrence of significant costs and draining of our resources.

    For a discussion of these and other risks and uncertainties that could affect LiveRamp’s business, reputation, results of operation, financial condition and stock price, please refer to LiveRamp’s filings with the U.S. Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of LiveRamp’s most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings.

    The financial information set forth in this press release reflects estimates based on information available at this time.

    LiveRamp assumes no obligation and does not currently intend to update these forward-looking statements.

    To automatically receive LiveRamp financial news by email, please visit www.LiveRamp.com and subscribe to email alerts.

    For more information, contact:

    LiveRamp Investor Relations
    Investor.Relations@LiveRamp.com

    LiveRamp® and RampID™ and all other LiveRamp marks contained herein are trademarks or service marks of LiveRamp, Inc. All other marks are the property of their respective owners.

    ________________________
    1 Unless otherwise indicated, all comparisons are to the prior year period.

                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                 
      For the three months ended March 31,
              $ %
      2025     2024     Variance Variance
                 
    Revenues 188,724     171,852     16,872   9.8 %
    Cost of revenue 57,929     47,722     10,207   21.4 %
    Gross profit 130,795     124,130     6,665   5.4 %
    % Gross margin 69.3 %   72.2 %      
                 
    Operating expenses            
    Research and development 45,926     45,161     765   1.7 %
    Sales and marketing 56,961     60,476     (3,515 ) (5.8 )%
    General and administrative 32,175     30,252     1,923   6.4 %
    Gains, losses and other items, net 7,241     2,516     4,725   187.8 %
    Total operating expenses 142,303     138,405     3,898   2.8 %
                 
    Loss from operations (11,508 )   (14,275 )   2,767   19.4 %
    % Margin (6.1 )%   (8.3 )%      
                 
    Total other income, net 4,762     5,070     (308 ) (6.1 )%
    Loss from continuing operations before income taxes (6,746 )   (9,205 )   2,459   26.7 %
    Income tax benefit (479 )   (3,027 )   2,548   84.2 %
    Net earnings from continuing operations (6,267 )   (6,178 )   (89 ) (1.4 )%
                 
    Earnings from discontinued operations, net of tax –     805     (805 ) (100.0 )%
                 
    Net loss (6,267 )   (5,373 )   (894 ) (16.6 )%
                 
    Basic loss per share:            
    Continuing operations (0.10 )   (0.09 )   (0.00 ) (2.0 )%
    Discontinued operations 0.00     0.01     (0.01 ) (100.0 )%
    Basic loss per share (0.10 )   (0.08 )   (0.01 ) (17.3 )%
                 
    Diluted loss per share:            
    Continuing operations (0.10 )   (0.09 )   (0.00 ) (2.0 )%
    Discontinued operations 0.00     0.01     (0.01 ) (100.0 )%
    Diluted loss per share (0.10 )   (0.08 )   (0.01 ) (17.3 )%
                 
    Basic weighted average shares 65,957     66,323        
    Diluted weighted average shares 65,957     66,323        
                 
    Some totals may not sum due to rounding.            
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                 
      For the twelve months ended March 31,
              $ %
      2025     2024     Variance Variance
                 
    Revenues 745,580     659,661     85,919   13.0 %
    Cost of revenue 215,910     179,489     36,421   20.3 %
    Gross profit 529,670     480,172     49,498   10.3 %
    % Gross margin 71.0 %   72.8 %      
                 
    Operating expenses            
    Research and development 176,668     151,201     25,467   16.8 %
    Sales and marketing 213,106     195,693     17,413   8.9 %
    General and administrative 126,499     110,166     16,333   14.8 %
    Gains, losses and other items, net 7,993     11,708     (3,715 ) (31.7 )%
    Total operating expenses 524,266     468,768     55,498   11.8 %
                 
    Income from operations 5,404     11,404     (6,000 ) (52.6 )%
    % Margin 0.7 %   1.7 %      
                 
    Total other income, net 17,436     22,957     (5,521 ) (24.0 )%
    Income from continuing operations before income taxes 22,840     34,361     (11,521 ) (33.5 )%
    Income tax expense 25,342     24,270     1,072   4.4 %
    Net earnings (loss) from continuing operations (2,502 )   10,091     (12,593 ) (124.8 )%
                 
    Earnings from discontinued operations, net of tax 1,688     1,790     (102 ) (5.7 )%
                 
    Net earnings (loss) (814 )   11,881     (12,695 ) (106.9 )%
                 
    Basic earnings (loss) per share:            
    Continuing operations (0.04 )   0.15     (0.19 ) (124.8 )%
    Discontinued operations 0.03     0.03     (0.00 ) (5.5 )%
    Basic earnings (loss) per share (0.01 )   0.18     (0.19 ) (106.9 )%
                 
    Diluted earnings (loss) per share:            
    Continuing operations (0.04 )   0.15     (0.19 ) (125.5 )%
    Discontinued operations 0.03     0.03     (0.00 ) (3.1 )%
    Diluted earnings (loss) per share (0.01 )   0.17     (0.19 ) (107.0 )%
                 
    Basic weighted average shares 66,126     66,266        
    Diluted weighted average shares 66,126     67,918        
                 
    Some totals may not sum due to rounding.            
                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                   
      For the three months
    ended March 31,    		   For the twelve months
    ended March 31,
      2025     2024     2025     2024
                   
    Income (loss) from continuing operations before income taxes (6,746 )   (9,205 )   22,840     34,361
    Income tax expense (benefit) (479 )   (3,027 )   25,342     24,270
    Net earnings from continuing operations (6,267 )   (6,178 )   (2,502 )   10,091
    Earnings from discontinued operations, net of tax –     805     1,688     1,790
    Net earnings (loss) (6,267 )   (5,373 )   (814 )   11,881
                   
    Basic earnings (loss) per share (0.10 )   (0.08 )   (0.01 )   0.18
    Diluted earnings (loss) per share (0.10 )   (0.08 )   (0.01 )   0.17
                   
    Excluded items:              
    Purchased intangible asset amortization (cost of revenue) 3,135     3,097     14,415     8,785
    Non-cash stock compensation (cost of revenue and operating expenses) 24,166     24,780     107,979     71,304
    Restructuring and merger charges (gains, losses, and other) 7,241     2,516     7,993     11,708
    Transformation costs (general and administrative) —     —     —     1,875
    Total excluded items from continuing operations 34,542     30,393     130,387     93,672
                   
    Income from continuing operations before income taxes and excluding items 27,796     21,188     153,227     128,033
    Income tax expense (2) 7,759     3,947     38,296     29,882
    Non-GAAP net earnings (loss) from continuing operations 20,037     17,241     114,931     98,151
                   
    Non-GAAP earnings per share from continuing operations              
    Basic 0.30     0.26     1.74     1.48
    Diluted 0.30     0.25     1.70     1.45
                   
    Basic weighted average shares 65,957     66,323     66,126     66,266
    Diluted weighted average shares 67,479     68,471     67,499     67,918
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    (2) Non-GAAP income taxes were calculated by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusting for discrete tax items in the period. The differences between our GAAP and non-GAAP effective tax rates were primarily due to the net tax effects of the excluded items, coupled with the valuation allowance and smaller pre-tax income for GAAP purposes.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP INCOME FROM OPERATIONS (1)
    (Unaudited)
    (Dollars in thousands)
                   
      For the three months
    ended March 31,    		   For the twelve months
    ended March 31,
      2025     2024     2025     2024  
                   
    Income (loss) from operations (11,508 )   (14,275 )   5,404     11,404  
    Operating income (loss) margin (6.1 )%   (8.3 )%   0.7 %   1.7 %
                   
    Excluded items:              
    Purchased intangible asset amortization (cost of revenue) 3,135     3,097     14,415     8,785  
    Non-cash stock compensation (cost of revenue and operating expenses) 24,166     24,780     107,979     71,304  
    Restructuring and merger charges (gains, losses, and other) 7,241     2,516     7,993     11,708  
    Transformation costs (general and administrative) –     –     –     1,875  
    Total excluded items 34,542     30,393     130,387     93,672  
                   
    Income from operations before excluded items 23,034     16,118     135,791     105,076  
    Non-GAAP operating income margin 12.2 %   9.4 %   18.2 %   15.9 %
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF ADJUSTED EBITDA (1)
    (Unaudited)
    (Dollars in thousands)
                   
      For the three months
    ended March 31,    		   For the twelve months
    ended March 31,
      2024     2023     2024     2023  
                   
    Net earnings (loss) from continuing operations (6,267 )   (6,178 )   (2,502 )   10,091  
    Income tax expense (benefit) (479 )   (3,027 )   25,342     24,270  
    Total other expense, net (4,762 )   (5,070 )   (17,436 )   (22,957 )
                   
    Income (loss) from operations (11,508 )   (14,275 )   5,404     11,404  
    Depreciation and amortization 3,803     3,823     17,207     11,508  
                   
    EBITDA (7,705 )   (10,452 )   22,611     22,912  
                   
    Other adjustments:              
    Non-cash stock compensation (cost of revenue and operating expenses) 24,166     24,780     107,979     71,304  
    Restructuring and merger charges (gains, losses, and other) 7,241     2,516     7,993     11,708  
    Transformation costs (general and administrative) –     –     –     1,875  
                   
    Other adjustments 31,407     27,296     115,972     84,887  
                   
    Adjusted EBITDA 23,702     16,844     138,583     107,799  
                   
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
                   
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED BALANCE SHEETS
    (Dollars in thousands)
                 
      March 31   March 31   $ %
      2025     2024     Variance Variance
    Assets            
    Current assets:            
    Cash and cash equivalents 413,331     336,867     76,464   22.7 %
    Restricted cash 595     2,604     (2,009 ) (77.2 )%
    Short-term investments 7,500     32,045     (24,545 ) (76.6 )%
    Trade accounts receivable, net 186,169     190,313     (4,144 ) (2.2 )%
    Refundable income taxes, net 9,708     8,521     1,187   13.9 %
    Other current assets 38,886     31,682     7,204   22.7 %
    Total current assets 656,189     602,032     54,157   9.0 %
                 
    Property and equipment 23,813     25,394     (1,581 ) (6.2 )%
    Less – accumulated depreciation and amortization 17,629     17,213     416   2.4 %
    Property and equipment, net 6,184     8,181     (1,997 ) (24.4 )%
                 
    Intangible assets, net 20,167     34,583     (14,416 ) (41.7 )%
    Goodwill 501,756     501,756     –   – %
    Deferred commissions, net 44,452     48,143     (3,691 ) (7.7 )%
    Other assets, net 30,623     36,748     (6,125 ) (16.7 )%
      1,259,371     1,231,443     27,928   2.3 %
                 
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Trade accounts payable 112,271     81,202     31,069   38.3 %
    Accrued payroll and related expenses 50,776     61,575     (10,799 ) (17.5 )%
    Other accrued expenses 38,586     42,857     (4,271 ) (10.0 )%
    Deferred revenue 45,885     30,942     14,943   48.3 %
    Total current liabilities 247,518     216,576     30,942   14.3 %
                 
    Other liabilities 62,994     65,732     (2,738 ) (4.2 )%
                 
    Stockholders’ equity:            
    Preferred stock –     –     –   n/a
    Common stock 15,918     15,594     324   2.1 %
    Additional paid-in capital 2,045,316     1,933,776     111,540   5.8 %
    Retained earnings 1,313,358     1,314,172     (814 ) (0.1 )%
    Accumulated other comprehensive income 4,295     3,964     331   8.4 %
    Treasury stock, at cost (2,430,028 )   (2,318,371 )   (111,657 ) 4.8 %
    Total stockholders’ equity 948,859     949,135     (276 ) (0.0 )%
      1,259,371     1,231,443     27,928   2.3 %
                 
           
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (Dollars in thousands)
      For the three months
    ended March 31,
      2025     2024  
    Cash flows from operating activities:      
    Net loss (6,267 )   (5,373 )
    Earnings from discontinued operations, net of tax —     (805 )
    Non-cash operating activities:      
    Depreciation and amortization 3,803     3,823  
    Loss on disposal or impairment of assets 44     6  
    Lease-related impairment and restructuring charges (28 )   (546 )
    Gain on sale of strategic investments (515 )   —  
    Loss on marketable equity securities 206     —  
    Provision for doubtful accounts (453 )   1,947  
    Deferred income taxes (496 )   (498 )
    Non-cash stock compensation expense 24,166     24,780  
    Changes in operating assets and liabilities:      
    Accounts receivable, net 25,187     8,700  
    Deferred commissions 46     (3,971 )
    Other assets 4,703     8,514  
    Accounts payable and other liabilities 11,738     (246 )
    Income taxes (523 )   (7,285 )
    Deferred revenue 969     (1,403 )
    Net cash provided by operating activities 62,580     27,643  
    Cash flows from investing activities:      
    Capital expenditures (293 )   (1,791 )
    Cash paid in acquisitions, net of cash received —     (170,281 )
    Purchases of investments —     (24,509 )
    Proceeds from sales of investments —     25,000  
    Proceeds from sale of strategic investment 763     —  
    Net cash provided by (used in) investing activities 470     (171,581 )
    Cash flows from financing activities:      
    Proceeds related to the issuance of common stock under stock and employee benefit plans 202     1  
    Shares repurchased for tax withholdings upon vesting of stock-based awards (1,026 )   (719 )
    Acquisition of treasury stock (25,447 )   (15,177 )
    Net cash used in financing activities (26,271 )   (15,895 )
    Net cash provided by (used in) continuing operations 36,779     (159,833 )
    Cash flows from discontinued operations:      
    From operating activities (798 )   805  
    Net cash provided by (used in) discontinued operations (798 )   805  
    Net cash provided by (used in) continuing and discontinued operations 35,981     (159,028 )
    Effect of exchange rate changes on cash 580     (447 )
           
    Net change in cash, cash equivalents and restricted cash 36,561     (159,475 )
    Cash, cash equivalents and restricted cash at beginning of period 377,365     498,946  
    Cash, cash equivalents and restricted cash at end of period 413,926     339,471  
           
    Supplemental cash flow information:      
    Cash paid for income taxes, net from continuing operations 558     4,905  
    Cash received for income taxes, net from discontinued operations —     (1,258 )
    Cash paid for operating lease liabilities 2,426     2,594  
           
           
    Operating lease assets obtained in exchange for operating lease liabilities —     148  
    Operating lease assets, and related lease liabilities, relinquished in lease terminations (40 )   —  
    Purchases of property, plant and equipment remaining unpaid at period end 20     104  
    Marketable equity securities obtained in disposition of strategic investment 652     —  
    Excise tax payable on net stock repurchases 64     —  
           
           
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (Dollars in thousands)
      For the twelve months
    ended March 31,
      2025     2024  
    Cash flows from operating activities:      
    Net earnings (loss) (814 )   11,881  
    Earnings from discontinued operations, net of tax (1,688 )   (1,790 )
    Non-cash operating activities:      
    Depreciation and amortization 17,207     11,508  
    Loss on disposal or impairment of assets 85     1,219  
    Lease-related impairment and restructuring charges 14     1,769  
    Gain on sale of strategic investments (515 )   —  
    Loss on marketable equity securities 206     —  
    Provision for doubtful accounts 695     2,254  
    Impairment of goodwill —     2,875  
    Deferred income taxes (447 )   (458 )
    Non-cash stock compensation expense 107,979     71,304  
    Changes in operating assets and liabilities:      
    Accounts receivable, net 3,547     (32,336 )
    Deferred commissions 3,691     (11,113 )
    Other assets 2,105     9,426  
    Accounts payable and other liabilities 3,573     8,508  
    Income taxes 3,430     22,275  
    Deferred revenue 14,897     8,334  
    Net cash provided by operating activities 153,965     105,656  
    Cash flows from investing activities:      
    Capital expenditures (1,042 )   (4,255 )
    Cash paid in acquisitions, net of cash received (1,951 )   (170,281 )
    Purchases of investments (1,967 )   (48,894 )
    Proceeds from sales of investments 26,989     50,750  
    Proceeds from sale of strategic investment 763     —  
    Purchases of strategic investments (1,400 )   (1,000 )
    Net cash provided by (used in) investing activities 21,392     (173,680 )
    Cash flows from financing activities:      
    Proceeds related to the issuance of common stock under stock and employee benefit plans 8,833     7,222  
    Shares repurchased for tax withholdings upon vesting of stock-based awards (10,331 )   (5,835 )
    Acquisition of treasury stock (101,198 )   (60,502 )
    Net cash used in financing activities (102,696 )   (59,115 )
    Net cash provided by (used in) continuing operations 72,661     (127,139 )
    Cash flows from discontinued operations:      
    From operating activities 1,688     1,790  
    Net cash provided by discontinued operations 1,688     1,790  
    Net cash provided by (used in) continuing and discontinued operations 74,349     (125,349 )
    Effect of exchange rate changes on cash 106     372  
           
    Net change in cash, cash equivalents and restricted cash 74,455     (124,977 )
    Cash, cash equivalents and restricted cash at beginning of period 339,471     464,448  
    Cash, cash equivalents and restricted cash at end of period 413,926     339,471  
           
    Supplemental cash flow information:      
    Cash paid for income taxes, net from continuing operations 22,548     2,465  
    Cash received for income taxes, net from discontinued operations (2,486 )   (2,765 )
    Cash received for tenant improvement allowances (2,628 )   —  
    Cash paid for operating lease liabilities 9,798     10,293  
           
           
    Operating lease assets obtained in exchange for operating lease liabilities 2,327     11,825  
    Operating lease assets, and related lease liabilities, relinquished in lease terminations (595 )   (4,486 )
    Purchases of property, plant and equipment remaining unpaid at period end 20     104  
    Marketable equity securities obtained in disposition of strategic investment 652     —  
    Excise tax payable on net stock repurchases 128     —  
           
    LIVERAMP HOLDINGS, INC AND SUBSIDIARIES
    CALCULATION OF FREE CASH FLOW (1)
    (Unaudited)
    (Dollars in thousands)
                           
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025
                           
    Net cash provided by (used in) operating activities $ 25,693   $ 35,764   $ 16,556   $ 27,643   $ 105,656     $ (9,328 ) $ 55,596   $ 45,117   $ 62,580   $ 153,965  
                           
    Less:                      
    Capital expenditures   (53 )   (200 )   (2,211 )   (1,791 )   (4,255 )     (226 )   (241 )   (282 )   (293 )   (1,042 )
                           
    Free Cash Flow $ 25,640   $ 35,564   $ 14,345   $ 25,852   $ 101,401     $ (9,554 ) $ 55,355   $ 44,835   $ 62,287   $ 152,923  
                           
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
     
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (Dollars in thousands, except per share amounts)
                              Yr-to-Yr
      FY2024   FY2025   FY2025 to FY2024
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025   % $
                                 
    Revenues   154,069     159,871     173,869     171,852     659,661       175,961     185,483     195,412     188,724     745,580     13.0 % 85,919  
    Cost of revenue   45,621     41,212     44,934     47,722     179,489       51,749     51,234     54,998     57,929     215,910     20.3 % 36,421  
    Gross profit   108,448     118,659     128,935     124,130     480,172       124,212     134,249     140,414     130,795     529,670     10.3 % 49,498  
    % Gross margin   70.4 %   74.2 %   74.2 %   72.2 %   72.8 %     70.6 %   72.4 %   71.9 %   69.3 %   71.0 %      
                                 
    Operating expenses                            
    Research and development   34,519     33,733     37,788     45,161     151,201       44,118     43,889     42,735     45,926     176,668     16.8 % 25,467  
    Sales and marketing   44,879     44,135     46,203     60,476     195,693       54,175     51,107     50,863     56,961     213,106     8.9 % 17,413  
    General and administrative   26,664     26,009     27,241     30,252     110,166       30,961     31,369     31,994     32,175     126,499     14.8 % 16,333  
    Gains, losses and other items, net   116     6,574     2,502     2,516     11,708       206     397     149     7,241     7,993     (31.7 )% (3,715 )
    Total operating expenses   106,178     110,451     113,734     138,405     468,768       129,460     126,762     125,741     142,303     524,266     11.8 % 55,498  
                                 
    Income (loss) from operations   2,270     8,208     15,201     (14,275 )   11,404       (5,248 )   7,487     14,673     (11,508 )   5,404     (52.6 )% (6,000 )
    % Margin   5.0 %   24.3 %   40.2 %   (31.6 )%   1.7 %     (3.0 )%   4.0 %   7.5 %   (6.1 )%   0.7 %      
                                 
    Total other income, net   4,849     6,431     6,607     5,070     22,957       4,444     4,197     4,033     4,762     17,436     (24.0 )% (5,521 )
                                 
    Income (loss) from continuing operations before income taxes   7,119     14,639     21,808     (9,205 )   34,361       (804 )   11,684     18,706     (6,746 )   22,840     (33.5 )% (11,521 )
    Income tax expense (benefit)   8,705     10,163     8,429     (3,027 )   24,270       6,685     9,952     9,184     (479 )   25,342     4.4 % 1,072  
    Net earnings (loss) from continuing operations   (1,586 )   4,476     13,379     (6,178 )   10,091       (7,489 )   1,732     9,522     (6,267 )   (2,502 )   (124.8 )% (12,593 )
                                 
    Earnings from discontinued operations, net of tax   –     387     598     805     1,790       –     –     1,688     –     1,688     (5.7 )% (102 )
                                 
    Net earnings (loss) $ (1,586 ) $ 4,863   $ 13,977   $ (5,373 ) $ 11,881     $ (7,489 ) $ 1,732   $ 11,210   $ (6,267 ) $ (814 )   (106.9 )% (12,695 )
                                 
    Basic earnings (loss) per share:                            
    Continuing Operations   (0.02 )   0.07     0.20     (0.09 )   0.15       (0.11 )   0.03     0.15     (0.10 )   (0.04 )   (124.8 )% (0.19 )
    Discontinued Operations   0.00     0.01     0.01     0.01     0.03       0.00     0.00     0.03     0.00     0.03     (5.5 )% (0.00 )
    Basic earnings (loss) per share   (0.02 )   0.07     0.21     (0.08 )   0.18       (0.11 )   0.03     0.17     (0.10 )   (0.01 )   (106.9 )% (0.19 )
                                 
    Diluted earnings (loss) per share:                            
    Continuing Operations   (0.02 )   0.07     0.20     (0.09 )   0.15       (0.11 )   0.03     0.14     (0.10 )   (0.04 )   (125.5 )% (0.19 )
    Discontinued Operations   0.00     0.01     0.01     0.01     0.03       0.00     0.00     0.03     0.00     0.03     (3.1 )% (0.00 )
    Diluted earnings (loss) per share   (0.02 )   0.07     0.21     (0.08 )   0.17       (0.11 )   0.03     0.17     (0.10 )   (0.01 )   (107.0 )% (0.19 )
                                 
                                 
    Basic weighted average shares   66,497     66,284     65,961     66,323     66,266       66,621     66,294     65,631     65,957     66,126        
    Diluted weighted average shares   66,497     67,868     67,943     66,323     67,918       66,621     67,309     66,743     65,957     66,126        
                                 
    Some earnings (loss) per share amounts may not add due to rounding.         
                                 
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EXPENSES (1)
    (Unaudited)
    (Dollars in thousands)
      FY2024   FY2025
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025
    Expenses:                      
    Cost of revenue 45,621   41,212   44,934   47,722   179,489     51,749   51,234   54,998   57,929   215,910  
    Research and development 34,519   33,733   37,788   45,161   151,201     44,118   43,889   42,735   45,926   176,668  
    Sales and marketing 44,879   44,135   46,203   60,476   195,693     54,175   51,107   50,863   56,961   213,106  
    General and administrative 26,664   26,009   27,241   30,252   110,166     30,961   31,369   31,994   32,175   126,499  
    Gains, losses and other items, net 116   6,574   2,502   2,516   11,708     206   397   149   7,241   7,993  
                           
    Gross profit, continuing operations: 108,448   118,659   128,935   124,130   480,172     124,212   134,249   140,414   130,795   529,670  
    % Gross margin 70.4 % 74.2 % 74.2 % 72.2 % 72.8 %   70.6 % 72.4 % 71.9 % 69.3 % 71.0 %
                           
    Excluded items:                      
    Purchased intangible asset amortization (cost of revenue) 3,290   1,217   1,181   3,097   8,785     3,846   3,748   3,686   3,135   14,415  
    Non-cash stock compensation (cost of revenue) 629   629   817   1,478   3,553     1,596   1,499   1,455   1,615   6,165  
    Non-cash stock compensation (research and development) 5,077   5,293   6,960   9,859   27,189     10,205   10,920   10,085   10,494   41,704  
    Non-cash stock compensation (sales and marketing) 3,736   4,786   4,089   6,337   18,948     7,093   7,383   7,278   5,716   27,470  
    Non-cash stock compensation (general and administrative) 3,850   5,027   5,631   7,106   21,614     9,091   9,266   7,942   6,341   32,640  
    Restructuring charges (gains, losses, and other) 116   6,574   2,502   2,516   11,708     206   397   149   7,241   7,993  
    Transformation costs (general and administrative) 1,875   —   —   —   1,875     —     —   —   —  
    Total excluded items 18,573   23,526   21,180   30,393   93,672     32,037   33,213   30,595   34,542   130,387  
                           
    Expenses, excluding items:                      
    Cost of revenue 41,702   39,366   42,936   43,147   167,151     46,307   45,987   49,857   53,179   195,330  
    Research and development 29,442   28,440   30,828   35,302   124,012     33,913   32,969   32,650   35,432   134,964  
    Sales and marketing 41,143   39,349   42,114   54,139   176,745     47,082   43,724   43,585   51,245   185,636  
    General and administrative 20,939   20,982   21,610   23,146   86,677     21,870   22,103   24,052   25,834   93,859  
                           
    Gross profit, excluding items: 112,367   120,505   130,933   128,705   492,510     129,654   139,496   145,555   135,545   550,250  
    % Gross margin 72.9 % 75.4 % 75.3 % 74.9 % 74.7 %   73.7 % 75.2 % 74.5 % 71.8 % 73.8 %
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
     
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
    (Unaudited)
    (Dollars in thousands, except per share amounts)
      FY2024   FY2025
      6/30/2023 9/30/2023 12/31/2023 3/31/2024 FY2024   6/30/2024 9/30/2024 12/31/2024 3/31/2025 FY2025
                           
    Income (loss) from continuing operations before income taxes 7,119   14,639 21,808 (9,205 ) 34,361   (804 ) 11,684 18,706 (6,746 ) 22,840  
    Income tax expense (benefit) 8,705   10,163 8,429 (3,027 ) 24,270   6,685   9,952 9,184 (479 ) 25,342  
    Net earnings (loss) from continuing operations (1,586 ) 4,476 13,379 (6,178 ) 10,091   (7,489 ) 1,732 9,522 (6,267 ) (2,502 )
                           
    Earnings from discontinued operations, net of tax –   387 598 805   1,790   –   – 1,688 –   1,688  
                           
    Net earnings (loss) (1,586 ) 4,863 13,977 (5,373 ) 11,881   (7,489 ) 1,732 11,210 (6,267 ) (814 )
                           
    Earnings (loss) per share:                      
    Basic (0.02 ) 0.07 0.21 (0.08 ) 0.18   (0.11 ) 0.03 0.17 (0.10 ) (0.01 )
    Diluted (0.02 ) 0.07 0.21 (0.08 ) 0.17   (0.11 ) 0.03 0.17 (0.10 ) (0.01 )
                           
    Excluded items:                      
    Purchased intangible asset amortization (cost of revenue) 3,290   1,217 1,181 3,097   8,785   3,846   3,748 3,686 3,135   14,415  
    Non-cash stock compensation (cost of revenue and operating expenses) 13,292   15,735 17,497 24,780   71,304   27,985   29,068 26,760 24,166   107,979  
    Restructuring and merger charges (gains, losses, and other) 116   6,574 2,502 2,516   11,708   206   397 149 7,241   7,993  
    Transformation costs (general and administrative) 1,875   – – –   1,875   –   – – –   –  
    Total excluded items from continuing operations 18,573   23,526 21,180 30,393   93,672   32,037   33,213 30,595 34,542   130,387  
                           
    Income from continuing operations before income taxes and excluding items 25,692   38,165 42,988 21,188   128,033   31,233   44,897 49,301 27,796   153,227  
    Income tax expense (2) 6,167   9,036 10,732 3,947   29,882   7,371   10,745 12,421 7,759   38,296  
    Non-GAAP net earnings from continuing operations 19,525   29,129 32,256 17,241   98,151   23,862   34,152 36,880 20,037   114,931  
                           
    Non-GAAP earnings per share from continuing operations                      
    Basic 0.29   0.44 0.49 0.26   1.48   0.36   0.52 0.56 0.30   1.74  
    Diluted 0.29   0.43 0.47 0.25   1.45   0.35   0.51 0.55 0.30   1.70  
                           
    Basic weighted average shares 66,497   66,284 65,961 66,323   66,266   66,621   66,294 65,631 65,957   66,126  
    Diluted weighted average shares 67,388   67,868 67,943 68,471   67,918   68,463   67,309 66,743 67,479   67,499  
                           
    Some totals may not add due to rounding           
                           
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.
     
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME GUIDANCE (1)
    (Unaudited)
    (Dollars in thousands)
      For the   For the
      quarter ending   year ending
      June 30,
    2025    		   March 31,
    2026
               
          Low   High
               
    GAAP income from operations $ 6,000   $ 85,000   $ 89,000
               
    Excluded items:          
    Purchased intangible asset amortization   3,000     11,000     11,000
    Non-cash stock compensation   24,000     82,000     82,000
    Total excluded items   27,000     93,000     93,000
               
    Non-GAAP income from operations $ 33,000   $ 178,000   $ 182,000
               
               
    (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.
               
    APPENDIX A
    LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
    Q4 FISCAL 2025 FINANCIAL RESULTS
    EXPLANATION OF NON-GAAP MEASURES AND OTHER KEY METRICS
     
    To supplement our financial results, we use non-GAAP measures which exclude certain acquisition related expenses, non-cash stock compensation and restructuring charges. We believe these measures are helpful in understanding our past performance and our future results. Our non-GAAP financial measures and schedules are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated GAAP financial statements. Our management regularly uses these non-GAAP financial measures internally to understand, manage and evaluate our business and to make operating decisions. These measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is also based in part on the performance of our business based on these non-GAAP measures.
     
    Our non-GAAP financial measures, including non-GAAP earnings (loss) per share, non-GAAP income (loss) from operations, non-GAAP operating income (loss) margin, non-GAAP expenses and adjusted EBITDA reflect adjustments based on the following items, as well as the related income tax effects when applicable:
     
    Purchased intangible asset amortization: We incur amortization of purchased intangibles in connection with our acquisitions. Purchased intangibles include (i) developed technology, (ii) customer and publisher relationships, and (iii) trade names. We expect to amortize for accounting purposes the fair value of the purchased intangibles based on the pattern in which the economic benefits of the intangible assets will be consumed as revenue is generated. Although the intangible assets generate revenue for us, we exclude this item because this expense is non-cash in nature and because we believe the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding our operational performance.
     
    Non-cash stock compensation: Non-cash stock compensation consists of charges for employee restricted stock units, performance shares and stock options in accordance with current GAAP related to stock-based compensation including expense associated with stock-based compensation related to unvested options assumed in connection with our acquisitions. As we apply stock-based compensation standards, we believe that it is useful to investors to understand the impact of the application of these standards to our operational performance. Although stock-based compensation expense is calculated in accordance with current GAAP and constitutes an ongoing and recurring expense, such expense is excluded from non-GAAP results because it is not an expense that typically requires or will require cash settlement by us and because such expense is not used by us to assess the core profitability of our business operations.
     
    Restructuring charges: During the past several years, we have initiated certain restructuring activities in order to align our costs in connection with both our operating plans and our business strategies based on then-current economic conditions. As a result, we recognized costs related to termination benefits for employees whose positions were eliminated, lease and other contract termination charges, and asset impairments. These items, as well as third party expenses associated with business acquisitions in the prior years, reported as gains, losses, and other items, net, are excluded from non-GAAP results because such amounts are not used by us to assess the core profitability of our business operations.
     
    Transformation costs: In previous years, we incurred significant expenses to separate the financial statements of our operating segments, with particular focus on segment-level balance sheets, and to evaluate portfolio priorities. Our criteria for excluding transformation expenses from our non-GAAP measures is as follows: 1) projects are discrete in nature; 2) excluded expenses consist only of third-party consulting fees that we would not incur otherwise; and 3) we do not exclude employee related expenses or other costs associated with the ongoing operations of our business. We substantially completed those projects during the third quarter of fiscal year 2018. Beginning in the fourth quarter of fiscal 2018, and through most of fiscal 2019, we incurred transaction support expenses and system separation costs related to the Company’s announced evaluation of strategic options for its Marketing Solutions (AMS) business. In the first and second quarters of fiscal 2021 in response to the potential COVID-19 pandemic impact on our business and again during fiscal 2023 in response to macroeconomic conditions, we incurred significant costs associated with the assessment of strategic and operating plans, including our long-term location strategy, and assistance in implementing the restructuring activities as a result of this assessment.  Our criteria for excluding these costs are the same. We believe excluding these items from our non-GAAP financial measures is useful for investors and provides meaningful supplemental information.
     
    Our non-GAAP financial schedules are:
     
    Non-GAAP EPS, Non-GAAP Income from Operations, and Non-GAAP expenses: Our Non-GAAP earnings per share, Non-GAAP income from operations, Non-GAAP operating income margin, and Non-GAAP expenses reflect adjustments as described above, as well as the related tax effects where applicable.
     
    Adjusted EBITDA: Adjusted EBITDA is defined as net income from continuing operations before income taxes, other income and expenses, depreciation and amortization, and including adjustments as described above. We use Adjusted EBITDA to measure our performance from period to period both at the consolidated level as well as within our operating segments and to compare our results to those of our competitors. We believe that the inclusion of Adjusted EBITDA provides useful supplementary information to and facilitates analysis by investors in evaluating the Company’s performance and trends. The presentation of Adjusted EBITDA is not meant to be considered in isolation or as an alternative to net earnings as an indicator of our performance.
     
    Free Cash Flow: To supplement our statement of cash flows, we use a non-GAAP measure of cash flow to analyze cash flows generated from operations. Free cash flow is defined as operating cash flow less capital expenditures. Management believes that this measure of cash flow is meaningful since it represents the amount of money available from continuing operations for the Company’s discretionary spending. The presentation of non-GAAP free cash flow is not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.
     

    PDF available: http://ml.globenewswire.com/Resource/Download/f10eae40-8315-4829-8708-f54db5dee34b

    The MIL Network –

  • MIL-OSI: Synaptics Names Rahul Patel as President and Chief Executive Officer

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., May 21, 2025 (GLOBE NEWSWIRE) — Synaptics® Incorporated (Nasdaq: SYNA) announced today that Rahul Patel has been appointed President and Chief Executive Officer, and a Director of the company. Patel succeeds Synaptics CFO Ken Rizvi, who has served as the company’s Interim CEO since February 2025. Rizvi will continue to serve as the company’s CFO.

    With more than 30 years of leadership experience in the semiconductor industry, Patel has a proven track record of driving growth and product innovation, particularly in the areas of high-performance Edge-AI wireless connectivity solutions for handsets, tablets, PCs, wearables such as smartwatches and earbuds, IoT applications, and networking and broadband solutions for enterprises and home markets.

    Prior to joining Synaptics, he spent a decade at Qualcomm, including most recently as SVP and Group General Manager of the Connectivity, Broadband, & Networking Group, where he was responsible for overseeing a multi-billion-dollar portfolio of wireless networking and connectivity business.

    Prior to Qualcomm, Patel spent 13 years in various senior leadership roles at Broadcom, including serving as Senior Vice President and General Manager, Wireless Connectivity Group, where he played a pivotal role in expanding Broadcom’s Wi-Fi®, Bluetooth®, and GPS leadership across all market segments.

    “On behalf of the Board of Directors, we are delighted to welcome Rahul as Synaptics’ next CEO. Rahul’s extensive semiconductor expertise and strong vision uniquely position him to accelerate our growth and innovation, steering us into our next chapter as we broaden our market reach,” said Nelson Chan, Chairman of Synaptics’ Board of Directors. “Rahul’s deep expertise with wireless connectivity, coupled with his proven track record of launching successful product lines and developing high-performing global teams, will be instrumental in advancing our technology roadmap and driving long-term growth. I’d like to sincerely thank Ken for his exceptional leadership as Interim CEO and for ensuring the seamless execution of our strategic initiatives during this transition period.”

    “I am truly honored and excited to join Synaptics, a leader in high-performance Processing, Connectivity, and Sensing solutions,” said Rahul Patel. “Synaptics’ culture of innovation, exceptional engineering talent, and diversified portfolio of solutions uniquely position the company to excel. I look forward to working with the talented team at Synaptics to execute on our growth roadmap and deliver next-generation technology that brings unparalleled value to our customers, partners, and investors.”

    About Synaptics Incorporated
    Synaptics (Nasdaq: SYNA) is driving innovation in AI at the Edge, bringing AI closer to end users and transforming how we engage with intelligent connected devices, whether at home, at work, or on the move. As a go-to partner for forward-thinking product innovators, Synaptics powers the future with its cutting-edge Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing solutions. We’re making the digital experience smarter, faster, more intuitive, secure, and seamless. From touch, display, and biometrics to AI-driven wireless connectivity, video, vision, audio, speech, and security processing, Synaptics is the force behind the next generation of technology enhancing how we live, work, and play. Follow Synaptics on LinkedIn, X, and Facebook, or visit www.synaptics.com. 

    Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.

    For further information, please contact:

    Investor Relations
    Munjal Shah  
    Synaptics  
    +1-408-518-7639
    munjal.shah@synaptics.com

    Media Contact  
    Neeta Shenoy 
    Synaptics 
    +1-408-425-2654
    neeta.shenoy@synaptics.com

    The MIL Network –

  • MIL-OSI: NextNRG Reports Q1 2025 Revenues up 147% Year-over-Year

    Source: GlobeNewswire (MIL-OSI)

    Triple-Digit Growth Highlights Execution of Integrated Energy Infrastructure Strategy

    Q1 2025 Conference Call Scheduled for May 22, 2025 at 9:15 AM ET

    MIAMI, May 21, 2025 (GLOBE NEWSWIRE) — NextNRG, Inc. (Nasdaq: NXXT), a pioneer in AI-driven energy innovation—transforming how energy is produced, managed and delivered through its advanced Utility Operating System, smart microgrid technology, wireless EV charging and on-demand mobile fuel delivery solutions— today announced financial results for the first quarter ended March 31, 2025, and provided a strategic update on its technology roadmap and growth trajectory.

    The Company will host a conference call to discuss these results on May 22, 2025 at 9:15 AM ET. Dial-in details are as follows:

    Selected Financial & Operational Highlights

    Metric Q1 2025 (unaudited) Q1 2024 (unaudited)
    Revenue $16.3M $6.6M
    Gross Profit $518K $462K
         

    “We entered 2025 with tremendous momentum and a clear roadmap to scale, and Q1 results are a reflection of that execution,” said Michael D. Farkas, CEO of NextNRG. “With triple-digit revenue growth, record-setting fuel volumes, and expanding margins, our core operations continue to exceed expectations. At the same time, we are advancing the next phase of our integrated energy strategy, with smart microgrid deployments and wireless EV charging programs progressing toward commercial launch.

    We believe our hybrid platform—combining traditional fueling, electrification, and AI-driven grid intelligence—represents the future of distributed energy,” Farkas added. “As we continue executing on this vision, we are building an ecosystem capable of delivering reliable, intelligent, and sustainable infrastructure at national scale laying the foundation for enormous long-term SaaS-based recurring revenue streams.”

    Recent Accomplishments

    • Strong April Momentum Across Key Metrics: Preliminary April 2025 revenue reached $5.82 million, up 154% year-over-year. Volume increased 207%, underscoring sustained demand across multiple regions.
    • Commercial Enterprise Expansion: Extended key existing relationships into Texas using a dedicated fleet portal for operational oversight, increasing engagement from enterprise clients seeking scalable site-level energy solutions.
    • Oklahoma Market Entry: Expanded footprint into a seventh operational state under a long-term agreement with one of the country’s largest in-house fleet operators.
    • Network Reach Strengthened: Grew national deployment capacity to 144 active vehicles servicing major logistics corridors across metro regions including California, Michigan, Tennessee, and the Southeastern U.S.

    Q1 2025 Strategic and Operational Highlights

    • Corporate Rebrand and Capital Formation: Completed $15 million public offering and corporate rebrand to NextNRG.
    • Utility OS Rollout Underway: Initiated deployment of NextNRG’s AI-powered Utility Operating System to optimize microgrid efficiency, automate fleet energy delivery, and enable real-time energy management across new infrastructure projects.
    • Smart Microgrids: On track to begin utility-scale microgrid deployment in Northern Florida in Q2 2025.
    • EV Innovation: Planning launch of the largest bidirectional wireless EV charging pilot in Southern Florida later this year.
    • Infrastructure Expansion with Strategic Acquisitions: Completed the Shell Oil mobile fleet acquisition and integration of Yoshi Mobility assets, boosting logistics capacity and infrastructure access.
    • Geographic Growth in Four New Markets: Entered Phoenix, Austin, San Antonio, and Houston, furthering national service availability and support for new utility and municipal customers.
    • Commercial Channel Maturation: Executed logistics support agreements with major national brands, reinforcing recurring delivery demand and infrastructure reliability.
    • Fleet Partnerships: Initiated deliveries to the world’s largest e-commerce company under a multi-year agreement, significantly expanding the Company’s B2B revenue base.

    First Quarter 2025 Performance

    • Revenue reached $16.3 million, a 147% increase from $6.6 million in Q1 2024.
    • Gallons delivered totaled 4.7 million, up 183% from 1.7 million in the prior-year quarter.
    • Average fuel margin per gallon expanded to $0.71, compared to $0.65 in Q1 2024.
    • Gross profit rose to $518,000, a 12% increase from $462,000 in the same period last year.
    • Ended the quarter with $2.1 million in cash, a 31% year-over-year increase.

    Looking Ahead: Scaling the Energy Intelligence Grid

    NextNRG is focused on expanding its integrated platform across three infrastructure-aligned revenue streams:

    1. Utility Operating System and Smart Microgrids: Deploying AI-driven grid management software and battery/solar microgrid systems through SaaS and power purchase agreements.
    2. Wireless EV Charging: Advancing from R&D to commercial pilots with property owners, CPOs, and municipalities.
    3. Mobile Energy Logistics: Scaling across sectors with centralized scheduling and recurring site-level optimization.

    About NextNRG, Inc.
    NextNRG, Inc. (NextNRG) is Powering What’s Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem.

    At the core of NextNRG’s strategy is its Utility Operating System, which leverages AI and ML to help make existing utilities’ energy management as efficient as possible, and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, schools, hospitals, nursing homes, parking garages, rural and tribal lands, recreational facilities and government properties, expanding energy accessibility while supporting decarbonization initiatives.

    NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility’s fuel division and Shell Oil’s trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, supporting more efficient fuel delivery while advancing clean energy adoption. The transition process is expected to include the deployment of NextNRG’s innovative wireless EV charging solutions.

    To find out more visit: www.nextnrg.com

    Forward-Looking Statements
    This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG’s goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as “expect,” “intends,” “will,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG’s business and macroeconomic and geopolitical events. These and other risks are described in NextNRG’s filings with the Securities and Exchange Commission from time to time. NextNRG’s forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG’s forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.

    Investor Relations Contact
    NextNRG, Inc.
    Sharon Cohen
    SCohen@nextnrg.com

    The MIL Network –

  • MIL-OSI: LPL Financial to Present at the Bernstein Strategic Decisions Conference

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, May 21, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC today announced that Rich Steinmeier, Chief Executive Officer, will present at the Bernstein Strategic Decisions Conference on May 28.

    The presentation takes place at 8 a.m. ET. A live audio webcast of the presentation will be accessible at investor.lpl.com, with a replay available on the website after the presentation.

    Contacts

    Investor Relations
    investor.relations@lplfinancial.com

    Media Relations
    media.relations@lplfinancial.com

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

    Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer. Member FINRA/SIPC.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

    The MIL Network –

  • MIL-OSI: Zoom Communications Reports Financial Results for the First Quarter of Fiscal Year 2026

    Source: GlobeNewswire (MIL-OSI)

    • First quarter total revenue of $1,174.7 million, up 2.9% year over year as reported and 3.4% in constant currency
    • First quarter Enterprise revenue of $704.7 million, up 5.9% year over year
    • First quarter GAAP operating margin of 20.6% and non-GAAP operating margin of 39.8%
    • First quarter GAAP EPS of $0.81, up 18.7% year over year, and non-GAAP EPS of $1.43, up 6.0% year over year
    • Number of customers contributing more than $100,000 in trailing 12 months revenue up 8.0% year over year
    • Repurchased approximately 5.6 million shares of common stock in Q1, up from 4.3 million shares in Q4

    SAN JOSE, Calif., May 21, 2025 (GLOBE NEWSWIRE) — Zoom Communications, Inc. (NASDAQ: ZM), today announced financial results for the first fiscal quarter ended April 30, 2025.

    “We delivered another solid quarter, exceeding guidance in both revenue and profitability — a testament to the strength of our platform and AI-first innovation,” said Eric S. Yuan, Zoom’s founder and CEO. “In an uncertain macro-economic environment, customers are turning to Zoom to drive efficiency, improve customer and employee experiences, and future-proof their businesses. We saw continued momentum in Zoom Customer Experience, Zoom Revenue Accelerator, and Workvivo as customers look to elevate CX, reinvigorate sales, and strengthen culture. In Q1, we launched multiple new products, maintained strong operational discipline, and accelerated our share repurchase activity, reinforcing our commitment to shareholder value.”

    First Quarter Fiscal Year 2026 Financial Highlights:

    • Revenue: Total revenue for the first quarter was $1,174.7 million, up 2.9% year over year. Adjusting for foreign currency impact, revenue in constant currency was $1,179.5 million, up 3.4% year over year. Enterprise revenue was $704.7 million, up 5.9% year over year, and Online revenue was $470.0 million, down 1.2% year over year.
    • Income from Operations and Operating Margin: GAAP income from operations for the first quarter was $241.6 million, compared to GAAP income from operations of $203.0 million in the first quarter of fiscal year 2025. Non-GAAP income from operations, which adjusts for stock-based compensation expense and related payroll taxes, and acquisition-related expenses, was $467.3 million for the first quarter, compared to non-GAAP income from operations of $456.6 million in the first quarter of fiscal year 2025. For the first quarter, GAAP operating margin was 20.6% and non-GAAP operating margin was 39.8%.
    • Net Income and Diluted Net Income Per Share: GAAP net income for the first quarter was $254.6 million, or $0.81 per share, compared to GAAP net income of $216.3 million, or $0.69 per share, in the first quarter of fiscal year 2025. Non-GAAP net income for the first quarter, which adjusts for stock-based compensation expense and related payroll taxes, gains/losses on strategic investments, net, acquisition-related expenses, and the tax effects on non-GAAP adjustments, was $448.3 million, or $1.43 per share. In the first quarter of fiscal year 2025, non-GAAP net income was $426.3 million, or $1.35 per share.
    • Cash and Marketable Securities: Total cash, cash equivalents, and marketable securities, excluding restricted cash, as of April 30, 2025 was $7.8 billion.
    • Cash Flow: Net cash provided by operating activities was $489.3 million for the first quarter, compared to $588.2 million in the first quarter of fiscal year 2025. Free cash flow, which is net cash provided by operating activities less purchases of property and equipment, was $463.4 million, compared to $569.7 million in the first quarter of fiscal year 2025.

    Customer Metrics: Drivers of total revenue included acquiring new customers. At the end of the first quarter of fiscal year 2026, Zoom had:

    • 4,192 customers contributing more than $100,000 in trailing 12 months revenue, up 8.0% from the same quarter last fiscal year.
    • A trailing 12-month net dollar expansion rate for Enterprise customers of 98%.
    • Online average monthly churn of 2.8% for the first quarter, down 40 bps from the same quarter last fiscal year.
    • The percentage of total Online MRR from Online customers with a continual term of service of at least 16 months was 74.2%, up 40 bps year over year.

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

    • Second Quarter Fiscal Year 2026: Total revenue is expected to be between $1.195 billion and $1.200 billion and revenue in constant currency is expected to be between $1.196 billion and $1.201 billion. Non-GAAP income from operations is expected to be between $460.0 million and $465.0 million. Non-GAAP diluted EPS is expected to be between $1.36 and $1.37 with approximately 310 million weighted average shares outstanding.
    • Full Fiscal Year 2026: Total revenue is expected to be between $4.800 billion and $4.810 billion and revenue in constant currency is expected to be between $4.808 billion and $4.818 billion. Full fiscal year non-GAAP income from operations is expected to be between $1.865 billion and $1.875 billion. Full fiscal year non-GAAP diluted EPS is expected to be between $5.56 and $5.59 with approximately 312 million weighted average shares outstanding. Full fiscal year free cash flow is expected to be between $1.680 billion and $1.720 billion.

    The EPS and share count figures do not include any impact from $1.2 billion of authorized share repurchase remaining as of April 30, 2025.

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

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

    Zoom Video Earnings Call

    Zoom will host a Zoom Video Webinar for investors on May 21, 2025 at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss the company’s financial results, business highlights and financial outlook. Investors are invited to join the Zoom Video Webinar by visiting: https://investors.zoom.com/

    About Zoom

    Zoom’s mission is to provide the AI-first work platform for human connection. Zoom Workplace — the company’s AI-powered, open collaboration platform built for modern work — will streamline communications, increase employee engagement, optimize in-person time, improve productivity, and offer customer choice with third-party apps and integrations. Zoom Workplace, powered by Zoom AI Companion, will include collaboration solutions like meetings, team chat, phone, scheduler, whiteboard, spaces, Workvivo, and more. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more information at zoom.com

    Forward-Looking Statements

    This press release contains express and implied “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Zoom’s financial outlook for the second quarter of fiscal year 2026 and full fiscal year 2026, Zoom’s market position, opportunities, and growth strategy, product initiatives, including future product and feature releases and the potential of agentic AI, and go-to-market motions and the expected benefits resulting from the same, market trends, and Zoom’s stock repurchase program. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: declines in new customers, renewals or upgrades, or decline in demand for our platform, difficulties in evaluating our prospects and future results of operations given our limited operating history, competition from other providers of communications platforms, the effect of macroeconomic conditions on our business, including geopolitical tensions, tariffs and escalating trade tensions, interest rate fluctuations, inflationary pressures and market and foreign currency exchange rate volatility, lengthened sales cycles with large organizations, delays or outages in services from our co-located data centers, failures in internet infrastructure or interference with broadband access, compromised security measures, including ours and those of the third parties upon which we rely, and global security concerns and their potential impact on regional and global economies and supply chains. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” and elsewhere in our most recent filings with the Securities and Exchange Commission (the “SEC”), including our annual report on Form 10-K for the fiscal year ended January 31, 2025. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

    Non-GAAP Financial Measures

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

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

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

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

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

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

    Customer Metrics

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

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

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

    Public Relations

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

    Investor Relations

    Charles Eveslage
    Head of Investor Relations
    investors@zoom.us

    Zoom Communications, Inc.
    Condensed Consolidated Balance Sheets
    (In thousands)
     
        As of
        April 30,
    2025    		   January 31,
    2025
    Assets   (unaudited)    
    Current assets:        
    Cash and cash equivalents   $ 1,228,847   $ 1,349,380  
    Marketable securities     6,563,976     6,442,329  
    Accounts receivable, net     477,242     495,228  
    Deferred contract acquisition costs, current     175,900     188,358  
    Prepaid expenses and other current assets     220,812     200,679  
    Total current assets     8,666,777     8,675,974  
    Deferred contract acquisition costs, noncurrent     114,513     123,464  
    Property and equipment, net     312,211     330,475  
    Operating lease right-of-use assets     53,217     55,900  
    Strategic investments     576,139     591,481  
    Goodwill     307,295     307,295  
    Deferred tax assets     769,189     749,759  
    Other assets, noncurrent     152,555     154,073  
    Total assets   $ 10,951,896   $ 10,988,421  
    Liabilities and stockholders’ equity        
    Current liabilities:        
    Accounts payable   $ 14,205   $ 8,345  
    Accrued expenses and other current liabilities     473,951     558,562  
    Deferred revenue, current     1,409,217     1,336,387  
    Total current liabilities     1,897,373     1,903,294  
    Deferred revenue, noncurrent     16,185     17,274  
    Operating lease liabilities, noncurrent     35,894     37,406  
    Other liabilities, noncurrent     100,076     95,363  
    Total liabilities     2,049,528     2,053,337  
             
    Stockholders’ equity:        
    Common stock     302     305  
    Additional paid-in capital     4,832,800     5,130,271  
    Accumulated other comprehensive (loss) income     15,145     4,990  
    Retained earnings     4,054,121     3,799,518  
    Total stockholders’ equity     8,902,368     8,935,084  
    Total liabilities and stockholders’ equity   $ 10,951,896   $ 10,988,421  
     
    Note: The amount of unbilled accounts receivable included within accounts receivable, net on the condensed consolidated balance sheets was $108.1 million and $118.5 million as of April 30, 2025 and January 31, 2025, respectively.
     
    Zoom Communications, Inc.
    Condensed Consolidated Statements of Operations
    (Unaudited, in thousands, except share and per share amounts)
     
        Three Months Ended April 30,
          2025       2024  
    Revenue   $ 1,174,715     $ 1,141,234  
    Cost of revenue     278,402       273,302  
    Gross profit     896,313       867,932  
    Operating expenses:        
    Research and development     205,416       205,558  
    Sales and marketing     346,970       348,008  
    General and administrative     102,335       111,344  
    Total operating expenses     654,721       664,910  
    Income from operations     241,592       203,022  
    (Losses) gains on strategic investments, net     (13,619 )     17,354  
    Other income, net     87,792       71,588  
    Income before provision for income taxes     315,765       291,964  
    Provision for income taxes     61,162       75,656  
    Net income     254,603       216,308  
             
    Net income per share:        
    Basic   $ 0.84     $ 0.70  
    Diluted   $ 0.81     $ 0.69  
    Weighted-average shares used in computing net income per share:        
    Basic     304,908,652       308,700,582  
    Diluted     312,783,861       315,360,678  
     
    Zoom Communications, Inc.
    Condensed Consolidated Statements of Cash Flows
    (Unaudited, in thousands)
     
        Three Months Ended April 30,
          2025       2024  
    Cash flows from operating activities:        
    Net income   $ 254,603     $ 216,308  
    Adjustments to reconcile net income to net cash provided by operating activities:        
    Stock-based compensation expense     201,569       229,425  
    Amortization of deferred contract acquisition costs     69,557       68,125  
    Depreciation and amortization     35,316       26,667  
    Deferred income taxes     (24,690 )     (7,952 )
    Losses (gains) on strategic investments, net     13,619       (17,354 )
    Provision for accounts receivable allowances     5,855       6,782  
    Unrealized foreign exchange (gains) losses     (7,626 )     7,237  
    Non-cash operating lease cost     6,108       5,368  
    Amortization of discount/premium on marketable securities     (12,845 )     (17,668 )
    Other     4,142       98  
    Changes in operating assets and liabilities:        
    Accounts receivable     12,485       12,260  
    Prepaid expenses and other assets     (12,293 )     35,839  
    Deferred contract acquisition costs     (48,148 )     (40,128 )
    Accounts payable     7,252       7,276  
    Accrued expenses and other liabilities     (80,383 )     (14,942 )
    Deferred revenue     72,141       77,964  
    Operating lease liabilities, net     (7,401 )     (7,114 )
    Net cash provided by operating activities     489,261       588,191  
    Cash flows from investing activities:        
    Purchases of marketable securities     (1,135,024 )     (867,911 )
    Maturities of marketable securities     1,033,279       776,941  
    Sales of marketable securities     2,525       —  
    Purchases of property and equipment     (25,910 )     (18,508 )
    Purchases of strategic investments     —       (3,000 )
    Proceeds from strategic investments     —       4,654  
    Net cash used in investing activities     (125,130 )     (107,824 )
    Cash flows from financing activities:        
    Proceeds from exercise of stock options     954       1,016  
    Proceeds from employee equity transactions to be remitted to employees and tax authorities, net     8,690       6,581  
    Cash paid for repurchases of common stock     (418,021 )     (150,048 )
    Taxes paid related to net share settlement of equity awards     (82,153 )     —  
    Net cash used in financing activities     (490,530 )     (142,451 )
    Effect of exchange rate changes on cash, cash equivalents, and restricted cash     11,854       (6,852 )
    Net (decrease) increase in cash, cash equivalents, and restricted cash     (114,545 )     331,064  
    Cash, cash equivalents, and restricted cash – beginning of period     1,361,417       1,565,380  
    Cash, cash equivalents, and restricted cash – end of period   $ 1,246,872     $ 1,896,444  
     
    Zoom Communications, Inc.
    Reconciliation of GAAP to Non-GAAP Measures
    (Unaudited, in thousands, except share and per share amounts)
     
        Three Months Ended April 30,
          2025       2024  
    GAAP income from operations   $ 241,592     $ 203,022  
    Add:        
    Stock-based compensation expense and related payroll taxes     216,730       242,874  
    Acquisition-related expenses     9,004       10,701  
    Non-GAAP income from operations   $ 467,326     $ 456,597  
    GAAP operating margin     20.6 %     17.8 %
    Non-GAAP operating margin     39.8 %     40.0 %
             
    GAAP net income   $ 254,603     $ 216,308  
    Add:        
    Stock-based compensation expense and related payroll taxes     216,730       242,874  
    Losses (gains) on strategic investments, net     13,619       (17,354 )
    Acquisition-related expenses     9,004       10,701  
    Tax effects on non-GAAP adjustments     (45,663 )     (26,211 )
    Non-GAAP net income   $ 448,293     $ 426,318  
             
    Net income per share – basic and diluted:        
    GAAP net income per share – basic   $ 0.84     $ 0.70  
    Non-GAAP net income per share – basic   $ 1.47     $ 1.38  
    GAAP net income per share – diluted   $ 0.81     $ 0.69  
    Non-GAAP net income per share – diluted   $ 1.43     $ 1.35  
             
    GAAP and non-GAAP weighted-average shares used to compute net income per share – basic     304,908,652       308,700,582  
    GAAP and non-GAAP weighted-average shares used to compute net income per share – diluted     312,783,861       315,360,678  
             
    Net cash provided by operating activities   $ 489,261     $ 588,191  
    Less: Purchases of property and equipment     (25,910 )     (18,508 )
    Free cash flow (non-GAAP)   $ 463,351     $ 569,683  
    Net cash used in investing activities   $ (125,130 )   $ (107,824 )
    Net cash (used in) provided by financing activities   $ (490,530 )   $ (142,451 )
    Operating cash flow margin (GAAP)     41.6 %     51.5 %
    Free cash flow margin (non-GAAP)     39.4 %     49.9 %
             
        Three Months Ended April 30,
          2025  
        Revenue   YoY Revenue
    Growth (%)
    GAAP revenue   $ 1,174,715       2.9 %
    Add: Constant currency impact     4,762       0.5 %
    Revenue in constant currency (non-GAAP)     1,179,477       3.4 %
     

    The MIL Network –

  • MIL-OSI Economics: DG Okonjo-Iweala: MC14 must deliver outcomes on WTO reform

    Source: World Trade Organization

    Reporting to the meeting in her capacity as Chair of the Trade Negotiations Committee (TNC), the Director-General said that in recent meetings she had with leaders and ministers in Japan and the Republic of Korea, the issue of WTO reform “was front and centre” of the discussions.

    “Prime Minister Ishiba (of Japan) and his ministers of trade, foreign affairs and finance, along with virtually every APEC minister that I met in Jeju, have bought into the idea that we must not waste a crisis, and that we need deep and thorough reform of the WTO if it is to remain relevant,” DG Okonjo-Iweala said.

    “For a successful MC14, we must act here in Geneva to deliver a package of reform proposals for ministers to consider and bless at MC14,” she added. “Nothing short of this can reposition this organization in the way and form needed.”

    The Director-General met with Prime Minister Ishiba and other senior Japanese government officials in Tokyo on 13 May and then attended a meeting of trade ministers from the Asia-Pacific Economic Cooperation (APEC) forum in Jeju, Republic of Korea, on 15-16 May.

    At their 12th Ministerial Conference in 2022, WTO members for the first time agreed to undertake a comprehensive review of the WTO’s functions in order to ensure the organization is capable of responding more effectively to both the challenges facing the multilateral trading system and the opportunities provided by contemporary developments in global trade.

    The Director-General said that while the ministers she met “made clear they value the system, they also admitted it cannot continue the way it is.”

    “Members keep sweeping things under the carpet and not solving problems,” she said. “I think what has brought us here is the inability to solve problems when they occur, and this has led to unilateral actions, instead of a cooperative approach to solve these problems.”

    “It has taken time for members to admit that things are not working as well as they should, and that they want solutions,” she continued.

    The Director-General said she was pleased work is continuing on possible deliverables for MC14, including further work on fisheries subsidies, agriculture, the Investment Facilitation for Development initiative, electronic commerce, and issues pertaining to least developed countries (LDCs).  Members will have a chance to assess progress on these issues at the next TNC meeting in July and decide later which packages are ready to take forward to MC14 for decision. 

    She welcomed the recent progress made on member acceptances of the Agreement on Fisheries Subsidies, noting that 99 members have now accepted the Agreement with only 12 more needed to bring it into force.

    Twenty-six delegations took the floor after the Director-General’s intervention, some of them speaking on behalf of groups of members.  Many members commented on a suggested road map for MC14 prepared by the WTO Secretariat and highlighted issues of interest, including WTO reform, new disciplines on fisheries subsidies, progress on agriculture, the e-commerce moratorium, and industrial policy, among others.

    General Council Chair to initiate MC14 consultations

    Under a separate agenda item, the General Council Chair, Ambassador Saqer Abdullah Almoqbel (Kingdom of Saudi Arabia), noted that discussions he had with delegations over the past weeks revealed various calls to proceed with work in three key areas, namely: WTO reform; dispute settlement reform; and the process towards preparing a possible MC14 outcome document.

    With MC14 taking place in 10 months, “time is not on our side,” he told members.  “Accordingly, immediately after this General Council meeting, I intend to consult interested delegations on how to take forward work in each of these areas.” 

    Investment facilitation for development

    On the Investment Facilitation for Development (IFD) initiative, members were once again unable to reach consensus on the request supported by 126 members to incorporate the IFD Agreement under Annex 4 of the Marrakesh Agreement establishing the WTO. This marked the eighth time the proposal has been submitted to members for adoption.

    Speaking on behalf of the 126 co-sponsors, the Republic of Korea underlined the urgent need for incorporating the Agreement into the WTO framework in order to help members attract investment, in particular developing and least developed country members. IFD Agreement participants are also actively engaging with non-participating members to build understanding and highlight the Agreement’s benefit, the Republic of Korea said.

    Three members reiterated their objections to incorporating the IFD Agreement into the WTO multilateral framework.

    Current trade tensions

    On behalf of 47 members, Singapore and Switzerland introduced a statement in support of the rules-based multilateral trading system. The statement cites the value and achievements of the WTO since it was established in 1995, underlining how the organization has contributed to the economic development of both developed and developing members by promoting trade liberalization and facilitating economic integration, fostering stability, predictability and consumers’ trust while preserving incentives for innovation. The WTO’s support for developing economies, including LDCs, has lifted millions out of poverty, the co-sponsors said.

    China introduced its communication regarding heightened trade turbulence and responses from the WTO.  Faced with the current situation of heightened trade turbulence, China said, members should safeguard the rules-based multilateral trading system with the WTO at its core. China proposed a “Stability, Development and Reform” (SDR) approach for the WTO and said it stands ready to work with all parties to safeguard the WTO rules system and inject more certainty and predictability into the global economy.

    The European Union introduced an item on fragmentation of global trade through tariffs and the global costs. The EU said the item was submitted in response to the economic and trade uncertainty created by recent tariff actions. The EU underlined its support for a rules-based multilateral trading system and highlighted the importance of ongoing dialogue on tariffs to assess impacts, monitor trade patterns, and consider systemic effects.

    WTO retreat on sustainable agriculture

    Brazil expressed its appreciation for the recent WTO retreat on sustainable agriculture and the broad engagement across regions and constituencies. It highlighted trends in agriculture production globally, including towards increased productivity and the search for greater resilience and sustainability.  Brazil said it saw value in further discussing this topic in a forward-looking manner as a conversational WTO exercise.

    Thirty-six delegations took the floor to comment.

    Electronic commerce

    Japan, on behalf of the co-sponsors of the Agreement on Electronic Commerce, informed members of the co-sponsors’ recent efforts to gather members’ support for incorporation of the Agreement into the WTO multilateral framework. Japan also reported that the co-sponsors are undertaking work to advance implementation of the Agreement, including a needs assessment survey to better understand priorities for implementation support.

    Several members reiterated their concerns about the Agreement and their objections to its incorporation into the WTO multilateral framework.

    Next meeting

    The next meeting of the General Council is tentatively scheduled for 22-23 July.

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    MIL OSI Economics –

  • MIL-OSI Economics: Tawazun Council and Thales Sign Agreement to Establish Ground Master Air Surveillance Radar Production Facility in UAE

    Source: Thales Group

    Headline: Tawazun Council and Thales Sign Agreement to Establish Ground Master Air Surveillance Radar Production Facility in UAE

    • As part of the Tawazun Economic Program, Thales Emarat Technologies announces its investment in a state-of-the-art factory to produce Ground Master series air surveillance radars.
    • The facility is expected to be fully operational by 2027, enhancing the UAE’s sovereign and manufacturing capabilities.
    • This strategic cooperation agreement signed between Tawazun Council and Thales aims to strengthen partnership and support local production.

    Abu Dhabi, 20 May 2025 – Tawazun Council and Thales, have signed a cooperation agreement to produce locally advanced Ground Master series air surveillance radars. This agreement supports the UAE’s vision to boost local manufacturing and develop national defence capabilities.

    The signing took place during the fourth edition of “Make it in the Emirates 2025,” with Matar Ali Al Romaithi, Sector Chief of Defence and Security Industry Affairs at Tawazun Council, and Abdelhafid Mordi, CEO of Thales in the UAE, alongside representatives from both sides.

    This reflects Thales’ commitment to supporting the UAE’s vision of advancing manufacturing capabilities through innovation and industrial excellence.

    The Ground Master radars are internationally recognized for their reliability, superior performance, mobility, and adaptability to diverse missions, positioning them amongst the world’s leading air surveillance and defence systems. The facility is scheduled to be fully operational by 2027, where it will assemble, test, and qualify advanced air surveillance radars to meet both domestic and export markets needs.

    This factory will serve as a strategic asset, bolstering the UAE’s defence manufacturing capabilities, enhancing self-sufficiency in critical technologies, and providing flexibility to address varying operational requirements.

    A core pillar of Thales Radar Centre of Excellence’s expansion is the development of Emirati talents. Thales places localization at the heart of its growth strategy through advanced training programs and sustainable professional career development, building specialized local expertise in advanced radar technologies in support of the UAE’s National Defence Strategy and its vision of a highly capable, future-ready national workforce. As the project is not only focused on building the radar system, but also on qualifying domestic suppliers, it further contributes to strengthening the national industrial base and promoting long-term self-reliance.

    Commenting on the agreement, Matar Ali Al Romaithi, Sector Chief of Defence and Security Industry Affairs at Tawazun Council, said: “The expansion of Thales’ Radar Centre of Excellence reflects the strength of the UAE’s defence industrial strategy and its regional leadership in advanced technologies. This initiative enhances national capabilities in air surveillance radar systems while creating significant opportunities for local companies to grow, innovate, and compete globally.”

    Abdelhafid Mordi, CEO of Thales in the UAE said: “Thales is proud to contribute to the growth of the UAE’s industrial defence ecosystem by advancing local capabilities, in-line with the national vision. The expansion of our Radar Centre of Excellence, through the establishment of a new production facility, marks a major milestone – from integration, testing, manufacturing to lifecycle support. This investment reinforces the UAE’s sovereignty in critical defence technologies, strengthens the national supply chain, embarks UAE talents and deepens local expertise in advanced radar systems.”

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services addresses several major challenges: sovereignty, security, sustainability and inclusion.

    The Group invests more than €4 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, cybersecurity, quantum and cloud technologies.

    Thales has more than 83,000 employees in 68 countries. In 2024, the Group generated sales of €20.6 billion.

    About Thales in the UAE

    Thales has been present in the UAE for 50 years, providing customers with technologically advanced solutions in Defence and Security, Digital Identity and Security, Aerospace, and Space industries.

    Part of the Tawazun Economic Program, Thales Emarat Technologies (TET) is a fully-owned Thales Group entity that was established in 2019 to boost localization and the development of Emirati talent. It houses centres of excellence for critical systems and a variety of defence and digital aerospace technologies. Since its establishment in 2019, Tawazun Economic Council and TET have launched the Radar Centre of Excellence, the Defence Services Center and Digital Center of Excellence. 

    MIL OSI Economics –

  • MIL-OSI New Zealand: Commonsense financial reforms underway

    Source: NZ Music Month takes to the streets

    Last night the Government took a major step toward restoring common sense to financial regulation, with the first readings of three important reform bills, says Commerce and Consumer Affairs Minister Scott Simpson.

    “Our Government is delivering on its promise to make it easier for New Zealanders to access the financial services they need, whether it’s buying a home, growing a business, or simply managing everyday life,” says Mr Simpson.

    “For too long, New Zealanders have been trapped by rules that are overly bureaucratic, unnecessarily repetitive, and sometimes just downright silly. Today, we’ve begun to fix that.”

    The Credit Contracts and Consumer Finance Amendment Bill, the Financial Markets Conduct Amendment Bill, and the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill are the first legislative steps in a broader package aimed at rewiring New Zealand’s financial services regulation. Together, they form part of a comprehensive overhaul that will rebalance the system to ensure consumer protection without stifling access to credit or innovation.

    “For many Kiwis, the absurdity of past rules became clear when banks were forced to quiz them about what they’d been spending on takeaways or Netflix subscriptions before approving a mortgage. That wasn’t responsible lending, it was regulatory overreach.”

    These three bills focus on addressing some of the most counterproductive aspects of the current law:

    • Regulators empowered to take proactive action: The Financial Markets Authority will be given the tools needed to effectively oversee lending, banking and insurance markets to the benefit of consumers.
    • Removing unnecessary personal liability: Senior managers and directors will no longer face personal liability for compliance failures. Responsibility will sit with the businesses, where it belongs.
    • Streamlining licensing requirements: Financial service providers will no longer need to hold multiple overlapping conduct licences, reducing duplication and compliance costs across the sector.
    • Improving dispute resolution services: The Bill strengthens oversight and independent governance of financial dispute resolution schemes, ensuring Kiwis can have confidence in fair, effective support when things go wrong.
    • A fairer and more proportionate approach to non-disclosures: Another change, which will apply retrospectively for the period between 2015 and 2019, will enable the courts to apply greater discretion when a lender has failed to disclose certain information to consumers.

    “These changes are pro-consumer, pro-competition, and pro-growth. They ensure that financial institutions are held to account without being tied up in needless red tape that drives up costs for everyone.”

    The reform package delivers on a core part of the National-ACT coalition agreement to rewrite the Credit Contracts and Consumer Finance Act 2003.

    “These changes are about enabling our economy to flourish. Financial regulation should protect people, not block their ambitions. This progress means we’re one step closer to a more dynamic, fair, and accessible financial system for all.”

    Notes to editors

    Fact sheet for the Bills is attached.

    MIL OSI New Zealand News –

  • MIL-OSI: Paperclip Adds Renowned CISO and Cybersecurity Expert to Advisory Committee for SAFE® Encryption Technology

    Source: GlobeNewswire (MIL-OSI)

    HACKENSACK, N.J., May 21, 2025 (GLOBE NEWSWIRE) — Heather Lowrie, a highly-experienced CISO, keynote speaker, and cybersecurity advocate, joins Paperclip as an advisor for its SAFE encryption solution. Lowrie will help guide Paperclip SAFE into the international cybersecurity market and bring data-centric security and encryption to the forefront of enterprise security.

    With more than 25 years’ experience across cybersecurity, technology, risk, and resilience, Lowrie has led major digital and security transformations for high-impact public and private sector organizations. She is known for delivering business-aligned security that drives growth, builds trust, and creates societal value—underpinned by deep, hands-on experience in managing major cyber incidents.

    “We’re thrilled to have Heather join us in an advisory capacity and to benefit from her deep expertise as we continue to advance Paperclip SAFE®,” said Chad Walter, CRO at Paperclip. “We’re excited to collaborate on cybersecurity thought leadership, participate in key industry events, and refine our go-to-market strategy to elevate encryption-in-use and the SAFE technology across the data security landscape.”

    Lowrie was recognized by her peers as CISO of the Year at the 2024 SC Awards Europe and is a Fellow of the Chartered Institute of Information Security. She is an accomplished strategist with extensive experience leading through crises—including major cyber incidents—and driving strategic change across digital transformation, data and AI, cybersecurity, and organizational culture initiatives. 

    Lowrie is also the Co-Founder of Resilionix, a deep-tech startup dedicated to helping organizations build resilience in an increasingly complex and uncertain world.

    “I’m delighted to join Paperclip in an advisory capacity and help bring data-centric security and encryption to the forefront of enterprise security,” Lowrie said. “I look forward to working with the excellent team at Paperclip to advance the adoption of encryption-in-use and to support organizations in building resilience”.

    Lowrie is a graduate of the University of Edinburgh, where she earned a Master of Science by Research in Science, Technology and Innovation Studies with distinction. She also holds a postgraduate diploma in Information Technology, awarded with distinction, from the University of the West of Scotland, alongside other academic qualifications. Lowrie holds numerous cybersecurity certifications from both U.S. and European organizations, including CISSP, CCSP, CISM, CDPSE, CIPP/E, and more. 

    About Paperclip, Inc.

    Paperclip is a proven technology partner that continues to revolutionize data security, content and document management for Fortune 1,000 companies worldwide. Every second of every day, our innovative solutions are securely processing, transcribing, storing, and communicating highly sensitive content across the internet. Maximizing efficiency to save millions annually, while maintaining absolute security and compliance. For more information, visit paperclip.com.

    About SAFE

    Paperclip SAFE builds on the foundation of trust and collaboration that Paperclip has established with its security and content management solutions over three decades. Paperclip SAFE utilizes in-depth knowledge of the database and data pipeline to secure all points within the data lifecycle. Nine of the 10 top life insurance carriers in the U.S. are currently protected by Paperclip SAFE. With Paperclip SAFE, outpace threats with data that is always encrypted and always ahead of evolving risk. For more information, visit paperclip.com/safe.

    MEDIA CONTACT:
    Megan Brandow
    Paperclip, Inc.
    MBrandow@paperclip.com
    585.727.0983

    The MIL Network –

  • MIL-OSI Global: How outdoor sports can support youth as they navigate climate change

    Source: The Conversation – Canada – By Brett Tomlinson, Adjunct Professor, Faculty of Educaiton, Nipissing University

    As climate change continues to impact the way we interact with our planet, it’s critical to consider ways we can encourage youth to participate in climate action initiatives.

    Young people across Canada are feeling frightened about the future of the planet. A Canadian study published in 2023 surveyed 1,000 young participants on their feelings about climate change. Sixty-six per cent of respondents said they felt anxiousness or hopelessness about climate change, while 78 per cent said it impacts their overall mental health.

    There are a number of ways to approach this overwhelming emotion, considering it could result not only in poor quality of life for youth but also continued inaction for the planet.

    My research in outdoor physical education leads me to consider more positive behaviour for youth in association to climate change that could likely benefit youth and the planet. The challenge is finding opportunities to develop pro-environmental behaviours and environmental stewardship with Canadian youth.



    Read more:
    6 ways to build resilience and hope into young people’s learning about climate change

    It’s about more than time outdoors

    When looking to develop pro-environmental behaviours, one way could be to simply encourage more time outdoors. But research from Germany suggests that just interacting with nature is not enough; rather, young people need to find ways to engage with nature and use the natural landscape to develop an emotional connection with the environment.

    According to the German study, certain sports can lead to more environmentally sustainable attitudes and behaviours from participants. Some sports in particular — like cross-country skiing, mountain biking or triathlon — increase those positive behaviours more than others. This isn’t simply because participants are alone within a natural setting; it’s because the focus of the sport is on the natural landscape.

    To explain a bit further, soccer, for example, is typically played outside but often on a manicured, sometimes artificial, field that is in many ways devoid of any natural influence.

    Alternatively, mountain biking requires participants to ride on trails that take them directly through forested areas or spaces that are selected based on their unique natural landscape. As athletes participate in sports more frequently and spend more time within nature, they then develop a stronger emotional connection to the space they’re in. This leads to pro-environmental behaviours and attitudes, which can then generate environmental stewardship.



    Read more:
    Earth Day 2024: ‘Green muscle memory’ and climate education promote behaviour change

    Rock climbing

    Within rock climbing groups and organizations, there is evidence suggesting members frequently participate in beneficial environmental stewardship projects. Outdoor rock-climbing groups typically manage spaces — sometimes privately owned, but frequently under government jurisdiction in provincial or national parks — to ensure safe and responsible climbing practices. Climbers rely on ropes, equipment and bolts to ensure safety as they’re climbing.

    But another obvious factor is the rock face they climb. The connection to rock and the climbing routes over those rock faces help foster a sense of environmental stewardship within climbers. Similar to mountain biking, the process starts with an introduction to the sport, but slowly develops into more care and attention paid to the natural spaces where climbers practise their activity.

    One American study indicates that rock climbing organizations often find opportunities to clean up the areas where they climb, and also look to maintain the natural features of that space.

    The research finds that for climbers, the challenge is to maintain natural spaces and keep the rock as pristine as possible. This also extends to conservation efforts to ensure that space maintains its use for climbing as opposed to turning it into a more urban or commercialized area.

    The joy that participants received from the sport of climbing initiated this environmental stewardship and maintained progressive action in local environmental initiatives.

    Element of physical risk

    One thing to note is that climbing and mountain biking do involve an element of physical risk.

    Doing some research on these sports can help youth assess risks alongside what can be gained from participating. But it’s also important to acknowledge that encouraging young people to foster deeper connections to nature as opposed to having simple interactions with outdoor spaces doesn’t mean they have to cycle down a mountain or climb a massive rock wall.

    Risk cannot be completely eliminated from outdoor sports and recreation, but there can be great social and personal benefit from participating in these types of activities.

    Instead of a high-risk sport, educators and outdoor leaders can influence participants with simpler actions. I am aware of outings involving outdoor hikes, or taking time at night to gaze at the stars and listen to the sounds of nature, that have sparked in young people an interest in outdoor spaces — and caring for them.

    Such experiences can then lead young people to continue to explore outdoor adventure and sport, that can , significantly, foster an appreciation of natural settings through direct interaction as well as a positive sense of community. This can be a starting point to help alleviate feelings of hopelessness to climate change.



    Read more:
    Teachers need bolder action from our school boards to educate in and for a climate emergency

    Addressing potential harms, amplifying benefits

    Despite the benefits of participating in outdoor sports, there is a need to acknowledge that participation can have some negative impact on the environment.

    For example, interaction with nature through sport can impact natural habitats and has the potential to alter behavioural patterns of animals. Furthermore, there is a risk of erosion of natural spaces, as well as the slim potential for the movement of invasive species.

    This being said, it’s critical to consider what we can gain from supporting youth to participate in outdoor sport and education when such activities are planned with attentiveness and care.

    Brett Tomlinson 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. How outdoor sports can support youth as they navigate climate change – https://theconversation.com/how-outdoor-sports-can-support-youth-as-they-navigate-climate-change-256643

    MIL OSI – Global Reports –

  • MIL-OSI Global: Worker-led programs are tackling gender-based violence in supply chains, but they’re at risk

    Source: The Conversation – Canada – By Genevieve LeBaron, Distinguished SFU Professor of Global Supply Chain Governance, Simon Fraser University

    Gender-based violence and harassment is a widespread issue in supply chains. Women workers in garment manufacturing, food production and hospitality are routinely subjected to unwanted touching and sexual advances and inappropriate comments, while promotion and advancement are often conditional on sex. In the most severe cases, this abuse escalates to sexual assault and rape.

    Despite decades of awareness and an International Labour Organization convention passed in 2019 and ratified by 49 countries, research indicates little progress has been made.

    A 2024 report from Statistics Canada, for instance, has found that 47 per cent of women have experienced some form of harassment or sexual assault in the workplace.

    Rates of gender-based violence and harassment are thought to be even higher in some countries and industries. In Bangladesh, a 2018 study found at least 60 per cent of garment workers had experienced it in the previous year. Another found 85 per cent of garment workers in Indonesia were concerned about sexual harassment at work.

    In the face of such a persistent global issue, women working in garment supply chains have pioneered a highly effective solution for tackling gender-based violence and harassment.

    Worker-led binding agreements

    Supported by labour unions and organizations like the Asia Floor Wage Alliance, Worker Rights Consortium and Global Labor justice, women workers have led the development of legally binding agreements with brands and suppliers to eliminate gender-based violence and harassment.

    The latest of these is called the Central Java Agreement for Gender Justice. Signed in July 2024, it covers 6,250 workers producing clothing for brands like Nike and Fanatics, Inc. under licenses with universities affiliated with the Worker Rights Consortium.

    Worker Rights Consortium persuaded Fanatics, which is also licensed to produce apparel bearing the Nike logo, to enter into the agreement in response to complaints of gender-based violence and harassment at two garment factories in central Java, Indonesia, owned by the Korean-based firm Ontide.

    This agreement creates a union-led program to address the problem at two Indonesian factories; if factory management does not comply, it risks losing business with Nike and Fanatics.

    Building on success from India to Indonesia

    The 2024 Central Java Agreement builds on and incorporates key features of previous worker-led agreements to address the issue.

    In particular, it builds on the 2022 Dindigul Agreement to Eliminate Gender-Based Violence and Harassment in India and the 2019 Agreements to Eliminate Gender-Based Violence and Harassment in Lesotho.

    The Dindigul agreement was led by an independent, majority-Dalit trade union run by women. It established a set of legally binding agreements with major garment companies including H&M Group, Gap Inc., PVH and Eastman Exports Global Clothing Ltd.

    The Lesotho agreements involved brands such as Levi Strauss & Co., Nien Hsing Textile Co., unions, women’s rights advocates and labour organizations.

    While each agreement is unique, they all adhere to the principles of worker-driven social responsibility.

    Under this governance model, “worker organizations and unions, suppliers, and brand companies enter into enforceable and legally binding agreements” and “transnational corporations use their leverage and supply chain relationships to effect change amongst supplier worksites.”

    A new model of accountability

    These agreements include worker-led detection and remediation systems to address gender-based violence and harassment. For example, under the Lesotho agreement, workers can access a 24-hour hotline operated by a local women’s organization to lodge complaints or bring them directly to the unions involved in the agreement.

    The Dindigul agreement also provides multiple channels for workers to raise complaints of gender-based violence and harassment, including shop floor monitors selected by the local union (one for every 25 workers). It also offers multiple avenues for raising complaints, including to the union or to sexual harassment committees required under Indian law.

    Under the Central Java Agreement, workers can bring complaints to committees aimed at eliminating the problem, to shop floor monitors or their unions. Not only do each of the agreements permit workers to request independent investigations, they all provide a wide array of remedies in the case of any incidents and violations of freedom of association.

    What sets these agreements apart from most other initiatives to combat gender-based violence and harassment in supply chains is that they actually work. One study of the two-year impact of the Dindigul Agreement by Cornell University’s Global Labor Institute found that 76 per cent of grievances were resolved in two weeks.

    The report said the program “constituted a powerful monitoring mechanism, ensuring effective remediation and deterring violations” of both gender-based violence and harassment and freedom of association — briefly put, the right to voluntarily join or leave groups (like unions), and for those groups to pursue collective action.

    Now, a key question is whether and to what extent these successful programs will continue to thrive and grow under the current “America First” agenda of the U.S. government.

    Progress under threat

    Despite their success, these worker-led initiatives face mounting challenges.

    Labour organizations that support these agreements are under strain, with some potentially at high risk of collapsing. The U.S. Bureau of International Labor Affairs is cutting US$500 million in funding that supports labour enforcement efforts across 40 countries.

    At the same time, company rollbacks of diversity, equity and inclusion programs are constraining, if not eliminating, the political space in which labour groups negotiate such agreements.

    Tariffs and upheaval in global trade — especially efforts to redraw supply chains to evade costly tariffs — gives brands cover to withdraw commitments to worker-led initiatives and change sourcing patterns to circumvent them.

    Within the United States, cuts and funding freezes — including to sexual assault prevention groups — are a worrying sign that support for preventing gender-based violence and harassment and helping its survivors are being undercut and failing.

    If labour stakeholders lose the resources to support such initiatives, the impacts on women and workplaces within supply chains across the world will be devastating. These programs show that when workers lead, real change is possible, but they need continued investment and political support to survive.

    Genevieve LeBaron receives funding from the Social Sciences and Humanities Research Council of Canada, Humanity United Foundation, and Ford Foundation.

    Judy Fudge 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. Worker-led programs are tackling gender-based violence in supply chains, but they’re at risk – https://theconversation.com/worker-led-programs-are-tackling-gender-based-violence-in-supply-chains-but-theyre-at-risk-255756

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Written question – EU strategy on price transparency and access to medicines – E-001918/2025

    Source: European Parliament

    Question for written answer  E-001918/2025
    to the Commission
    Rule 144
    Valentina Palmisano (The Left)

    Major pharmaceutical companies have recently announced investments of over USD 165 billion in the United States, thus shifting part of their production apparatus.

    The CEOs of Novartis and Sanofi have criticised EU policy, which they deem to be unattractive, citing regulatory uncertainty and price controls.

    The Commission has submitted proposals such as a European price list based on US prices, the elimination of spending caps and a European target for innovative medicines.

    Given the foregoing and the fact that equitable access to medicines and the sustainability of healthcare systems are fundamental rights, that World Health Organisation resolution WHA72.8 calls for price transparency but no such policy enforces it in Europe, and that the evaluation of medicines does not systematically include added therapeutic value, can the Commission say:

    • 1.What stance it takes on Big Pharma’s proposals and the associated risks for the sustainability of healthcare systems and equitable access to medicines?
    • 2.What measures it intends to take to increase price transparency in line with Resolution WHA72.8 and improve information exchange between Member States?
    • 3.Whether it intends to introduce the criterion of added therapeutic value in the assessment of medicines at European level, with a view to steering innovation towards real clinical benefits and avoiding incremental innovation?

    Submitted: 14.5.2025

    Last updated: 21 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – Generational renewal in EU agriculture – 21-05-2025

    Source: European Parliament

    Attracting young people to agriculture has been a goal of the European Union’s (EU) common agricultural policy (CAP) since the 1980s. However, EU farmers are getting older – 57 % of farm managers are over 55 years of age, while only 12 % are under 40. Young farmers ensure continuity of agricultural production and bring vitality to rural areas. They are also more likely to modernise farms, engage in environmentally friendly practices and employ new business models and ideas. Young people who decide to go into farming often experience difficulties in accessing land, finance and knowledge. They also have to navigate the general challenges that come with living in rural areas. To address these issues, the CAP mandates that EU Member States allocate an equivalent of 3 % of their direct payments to support young farmers. This support can come in the form of complementary income support, installation aid and support for investment. Furthermore, Member States use the LEADER programme to improve infrastructure and basic services in rural areas. Some also provide support for farms that are being passed down from one generation to the next. However, several studies reveal that, despite several decades of efforts, these measures have shown limited results. The support being provided is considered insufficient to address the issue of access to land, especially for people entering agriculture without inheriting a farm. Nonetheless, this support is crucial for convincing young people to take over a farm and is often used for investment, as collateral when obtaining a loan, or for expanding an existing farm. Over the next three years, in addition to what is being provided under the CAP, the European Investment Bank Group is planning to provide €3 billion in loans on favourable terms for agriculture, with a share reserved for young farmers. In the current term, the European Parliament has not adopted a formal position on young farmers and generational renewal. However, its committees are working on own-initiative reports on the future of agriculture and strengthening rural areas. Parliament has previously called for a dedicated EU strategy on generational renewal, which the European Commission plans to put forward in 2025.

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Social Climate Fund (SCF) and limited liability housing companies in Finland – E-001228/2025(ASW)

    Source: European Parliament

    The rules of the Social Climate Fund (SCF) and those concerning the use of the remaining Member State revenues under the new Emissions Trading System for buildings, road transport and additional sectors (ETS2) are different. SCF rules are more targeted and developed through the SCF Regulation[1], the recently adopted Guidances on the Social Climate Plans[2] and on the do no significant harm (DNSH) principle[3].

    Article 9 of the SCF Regulation allows support through intermediaries, if the entire benefit is passed on to the vulnerable and relevant safeguards are in place. Thus, the investments and measures carried out by the Finnish limited liability housing companies could be financed if they are included the Finnish Social Climate Plan and if a measure can be designed in such a way that the entire benefit is passed on to vulnerable households (homeowners, or renters), e.g. in the form of an improved building standard and reduced heating bills.

    Under the ETS Directive[4], Member States must use the revenues for the purposes listed in Articles 10(3) and 30d(6), which include measures to improve energy efficiency and deep renovations. The decarbonisation of heating and cooling of buildings, the reduction of the energy needs of buildings and social aspects are mentioned especially when it comes to ETS2.

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2023.130.01.0001.01.ENG .
    • [2] https://climate.ec.europa.eu/document/download/9fbce2e3-5052-4d61-874a-54af0c7dbf55_en?filename=c_2025_881_part_1_en.pdf .
    • [3] https://climate.ec.europa.eu/document/download/2f3269ea-fb02-4481-a1d5-3453ba3172ea_en?filename=c_2025_880_part_1_en.pdf .
    • [4] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02003L0087-20240301 .
    Last updated: 21 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Problems with the security company responsible for EUPOL COPPS – E-001477/2025(ASW)

    Source: European Parliament

    Page Group Ltd is a United Kingdom based private security company (PSC) providing security services to the European Union Mission for the Support of Palestinian Police and Rule of Law[1] ( EUPOL COPPS). The company delivers security services such as 24/7 on-site guarding of the premises and monitors all moves of the Mission and the security situation in the area of operations.

    The strike of the PSC personnel started on 8 January 2025 and ended on 22 January 2025. Page Group Ltd informed EUPOL COPPS that the interruption of the service was due to internal issues between Page Group Ltd and its local employees falling outside the remits of EUPOL COPPS. The Mission immediately requested the management of Page Group Ltd to resolve the issue as soon as possible.

    In parallel, a business continuity plan was implemented by EUPOL COPPS for the duration of the strike, focusing on a seamless continuation of the provision of the security services such as Warden and Duty Security Officer duties using Mission staff.

    • [1] https://eupolcopps.eu/.
    Last updated: 21 May 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Justification and conditionality of financial support to South Africa under the Global Gateway initiative – E-001120/2025(ASW)

    Source: European Parliament

    The EU and South Africa (SA) have a Strategic Partnership based, among other, on democratic values and human rights, as exemplified by the recent EU-SA Summit, where the EU announced the Global Gateway Investment Package with South Africa to which the Honourable Member refers. This package will mainly support projects promoting SA’s clean and just energy transition. In the context of this partnership, the EU and SA are engaged in a regular human rights dialogue.

    With Global Gateway, the EU aims to embed democratic principles, and transparency in all investments. The EU assesses in each country whether the required pre-conditions for investments exist, including regarding human rights.

    When the Commission becomes aware of any suspected cases of fraud, corruption or any other illegal activity affecting the EU budget, it takes all measures deemed fit and informs without delay the European Anti-Fraud Office and, where applicable, the European Public Prosecutor’s Office.

    The new Financial Regulation (Article 6(3))[1] makes an explicit reference to the EU values, including human dignity, freedom, democracy, and the rights of minorities, and requires that the EU budget be implemented in full respect of such values. In cases of serious human rights violations, the Commission may take precautionary and/or corrective measures such as suspending or terminating contracts, carrying out internal or external audits, verifying expenditures, and applying other relevant controls.

    • [1] https://eur-lex.europa.eu/eli/reg/2024/2509?utm_source.
    Last updated: 21 May 2025

    MIL OSI Europe News –

  • MIL-OSI Russia: Xinjiang launches first direct cargo air route to Baltic region

    Translation. Region: Russian Federal

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

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

    URUMQI, May 21 (Xinhua) — A cargo plane carrying 51 tonnes of e-commerce goods took off from northwest China’s Xinjiang Uygur Autonomous Region on Wednesday and arrived in Estonia’s capital Tallinn, marking the launch of the first direct cargo air route from Xinjiang to the Baltic region.

    The new route will be operated once a week by a Boeing 767 cargo aircraft, with a one-way flight time of approximately 11 hours. Compared with conventional aircraft, this aircraft offers 30 percent more cargo capacity, primarily transporting light industry products such as clothing and daily necessities, effectively reducing logistics costs.

    According to Feng Liang, general manager of Xinjiang Wanshengtong Supply Chain Management Co, Ltd., the air route will provide Chinese merchants with the opportunity to directly interact with e-commerce platforms in Northern Europe and help improve the shopping experience of consumers in the region.

    To date, 20 international cargo air routes have been launched from Xinjiang’s capital Urumqi to 20 cities, including 12 routes covering key hubs in Northern, Eastern and Western Europe.

    From January to April 2025, the customs office of Urumqi Diwopu International Airport handled 1,584 cargo flights, a whopping 1,157.1 percent increase year-on-year, and the cargo turnover of this airport reached 26,000 tons, an increase of 522.2 percent compared with the same period last year.

    The regular operation of multiple international air cargo routes will help Xinjiang-based cross-border e-commerce companies expand their presence in overseas markets, boosting exports of textiles, electronics and other competitive products and promoting the quality and efficiency of trade among Belt and Road Initiative participants, said Zhao Beijing, an official with Diwopu Customs. –0–

    MIL OSI Russia News –

  • MIL-OSI: Check Point Software Technologies Named One of America’s Best Cybersecurity Companies by Newsweek and Statista

    Source: GlobeNewswire (MIL-OSI)

    REDWOOD CITY, Calif., May 21, 2025 (GLOBE NEWSWIRE) — Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a pioneer and global leader of cyber security solutions, today announced it has been recognized on Newsweek’s 2025 list of America’s Best Cybersecurity Companies. This prestigious acknowledgment underscores Check Point’s commitment to delivering AI-powered security solutions and its dedication to preventing cyber threats and protecting digital trust globally.

    Newsweek’s annual ranking, developed in collaboration with Statista, evaluates companies based on public sentiment and expert evaluations, covering topics including service quality, professional quality, product satisfaction, false positive rate and threat response time criteria including innovation, customer satisfaction, and overall excellence in cybersecurity. Check Point’s inclusion in this list highlights its role as a trusted partner for over 100,000 organizations worldwide, offering comprehensive security across networks, cloud environments, endpoints, and mobile devices.

    “We are honored to be recognized by Newsweek as one of America’s Best Cybersecurity Companies,” said Shashi Kiran, Chief Marketing Officer at Check Point Software. “This accolade reflects our team’s relentless pursuit of excellence and our mission to secure and empower organizations to operate confidently in today’s digital landscape.”

    This recognition adds to a series of accolades for Check Point, including being named one of the World’s Best Companies by TIME and Statista in 2024 and earning a spot on the Forbes list of the World’s Best Employers for five consecutive years.

    Follow Check Point via:
    LinkedIn: https://www.linkedin.com/company/check-point-software-technologies
    X: https://www.twitter.com/checkpointsw
    Facebook: https://www.facebook.com/checkpointsoftware
    Blog: https://blog.checkpoint.com
    YouTube: https://www.youtube.com/user/CPGlobal

    About Check Point Software Technologies Ltd. 

    Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading protector of digital trust, utilizing AI-powered cyber security solutions to safeguard over 100,000 organizations globally. Through its Infinity Platform and an open garden ecosystem, Check Point’s prevention-first approach delivers industry-leading security efficacy while reducing risk. Employing a hybrid mesh network architecture with SASE at its core, the Infinity Platform unifies the management of on-premises, cloud, and workspace environments to offer flexibility, simplicity and scale for enterprises and service providers.

    Legal Notice Regarding Forward-Looking Statements  
    This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding future growth, the expansion of Check Point’s industry leadership, the enhancement of shareholder value and the delivery of an industry-leading cyber security platform to customers worldwide. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2024. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

    The MIL Network –

  • MIL-OSI: KGN Cloud Launches Intelligent Cloud Mining Platform AI Reshapes Crypto Landscape

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, May 21, 2025 (GLOBE NEWSWIRE) —

    Following never-before-seen crypto rises, KGN Cloud, the innovative digital mining venture of KGN Investing Limited, has rolled out an AI-integrated, ready framework for legislation and an environment-friendly cloud mining platform. Major nations are speeding up their regulatory frameworks for digital assets ,when Bitcoin is already above $80,000, and KGN Cloud, now made available to individuals and businesses, facilitates the mining of top cryptocurrencies without owning physical rigs or dealing with complicated setups.

    New users get an automatic bonus of $100 after registration, which they can use to start mining in minutes.

    “The alignment of AI, energy sustainability, and global regulatory convergence has created a perfect milieu for intelligent mining,” said Rachel M. Jones, Chief Product Officer, KGN Cloud. “This is a platform we created to bring everyone—from the freshers in crypto to hedge funds—a trusted entry point into blockchain mining.”

    Crypto’s Historic 2025 Rally: The Numbers Behind the Boom

    Bitcoin hit $80,000 on May 10th, 2025, according to CoinMetrics and Messari, as a result of a combination of spot ETF approvals in the US, Hong Kong, and the UAE, as well as increasing interest for Ethereum Layer 2 solutions and institutional DeFi.

    Key market trends fueling demand for mining:

    • Spot Bitcoin ETF inflows exceeded $14B in April 2025 alone
    • Ethereum (ETH) surged 30% in Q2 as staking rewards hit record highs
    • Solana (SOL) and Avalanche (AVAX) are seeing adoption across real-world asset (RWA) tokenization
    • Global mining hash rate hit a new high of 660 EH/s post-halving, pushing smaller miners toward cloud-based options

    As a result, cloud mining is seeing an unprecedented surge in demand.

    Enter KGN Cloud: Mining Powered by AI, Sustainability, and Simplicity

    Traditionally, mining is beset with the barriers of hardware costs, inefficient use of energy, and absence of technical expertise; KGN Cloud deals with all these issues. There will be no capital costs because the platform will allow on-demand, Web-based access to the mining of Bitcoin, Ethereum, and other proof-of-work coins, using AI-enabled optimization—all this from anywhere with an Internet connection.

    Platform Highlights:

    • AI Predictive Allocation: Algorithmic intelligence predicts block difficulty shifts and reallocates hash power accordingly
    • Green Mining Infrastructure: Partnerships with hydro and solar-powered data centers in Canada, Norway, and Iceland
    • Zero Maintenance: KGN handles all technical configurations, upgrades, and storage
    • 24/7 Dashboard Access: Monitor earnings, switch coins, and reinvest profits instantly
    • Daily Payouts in BTC/ETH/USDT: Users can withdraw earnings anytime

    Real-Time Plan Examples (as of May 2025):

    • Starter AI Plan – $300, 3-day contract, return: ~$330
    • Optimized Yield Plan – $1,200, 5-day contract, return: ~$1,350
    • AI Green Plan – $5,000, 10-day contract, return: ~$6,050
    • Institutional Pro Plan – $10,000, 14-day contract, return: ~$12,800

    All plans include automated reinvestment options and 100% uptime guarantees.

    Crypto Goes Green: Cloud Mining’s Carbon Pivot

    The recently released G20 Digital Finance Taskforce aims to ensure that by 2026, 80% of all crypto mining operations will be tasked to meet net-zero emissions goals in key jurisdictions such as the EU, UAE, and Canada.

    In anticipation of said regulatory shift, KGN Cloud was built with low-emission data centers using renewable energy integrations. It is one of the few platforms already poised for full ESG compliance.

    “Regulatory alignment isn’t a threat—it’s the future…Our eco-first mining platform helps investors stay ahead of compliance curves without compromising on profitability,” stated Jones.

    AI + Crypto: From Trend to Necessity

    AI is no longer a buzzword—it’s defining the mining landscape in 2025. KGN Cloud’s proprietary AI engine analyzes:

    • Real-time token volatility
    • Network congestion
    • Global mining pool saturation
    • Gas fees and reward difficulty across BTC, ETH, LTC, etc.

    With the above input arriving every couple of hours, KGN Cloud reestablishes its mining focus, thereby maximizing yields for its users even when the market conditions are hostile.

    Referral Ecosystem: Earn More by Sharing

    In an effort to encourage community growth, KGN Cloud is running a Referral Earnings Program whereby users earn a commission of 5%-7% on each mining contract purchased through their link.

    Top affiliates are given access to exclusive “Pro Contracts,” which include advanced features like auto-compounding strategies and enhanced daily rewards.

    New Markets, New Users: Global Access & Regulation-Ready

    Currently functional in over 160 nations, KGN Cloud also runs its exclusive infrastructure through regulation-friendly hubs including Switzerland, Singapore, and Estonia.

    The said platform conforms to the FATF travel rule standard; UK financial oversight requirements; and the data protections of GDPR.

    “This is what KGN Cloud is for-the globe,” Jones said. “If you’re in Tokyo, you’re in Dubai, you’re in São Paulo-you’re mining securely, legally, and profitably.”

    What’s Ahead for KGN Cloud in 2025?

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    Attachment

    The MIL Network –

  • MIL-OSI: C&F Financial Corporation Announces Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., May 21, 2025 (GLOBE NEWSWIRE) — The board of directors of C&F Financial Corporation (NASDAQ:CFFI) (the Corporation) has declared a regular cash dividend of 46 cents per share, which is payable July 1, 2025 to shareholders of record on June 13, 2025.

    The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.

    About C&F

    C&F Bank operates 31 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company is a regional finance company purchasing automobile, marine and recreational vehicle loans primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission, are available on the Corporation’s website at http://www.cffc.com.

    Contact: Jason Long
    Chief Financial Officer and Secretary
    (804) 843-2360

    The MIL Network –

  • MIL-OSI: C&F Financial Corporation Announces Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    TOANO, Va., May 21, 2025 (GLOBE NEWSWIRE) — The board of directors of C&F Financial Corporation (NASDAQ:CFFI) (the Corporation) has declared a regular cash dividend of 46 cents per share, which is payable July 1, 2025 to shareholders of record on June 13, 2025.

    The Board of Directors of the Corporation continually reviews the amount of cash dividends per share and the resulting dividend payout ratio in light of changes in economic conditions, current and future capital requirements, and expected future earnings.

    About C&F

    C&F Bank operates 31 banking offices and four commercial loan offices located throughout eastern and central Virginia and offers full wealth management services through its subsidiary C&F Wealth Management, Inc. C&F Mortgage Corporation and its subsidiary C&F Select LLC provide mortgage loan origination services through offices located in Virginia and the surrounding states. C&F Finance Company is a regional finance company purchasing automobile, marine and recreational vehicle loans primarily in the Mid-Atlantic, Midwest and Southern United States from its headquarters in Henrico, Virginia.

    Additional information regarding the Corporation’s products and services, as well as access to its filings with the Securities and Exchange Commission, are available on the Corporation’s website at http://www.cffc.com.

    Contact: Jason Long
    Chief Financial Officer and Secretary
    (804) 843-2360

    The MIL Network –