Category: GlobeNewswire

MIL-OSI: Alarum Technologies Announces First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

Q1 2025 highlighted the growing traction of the company’s data collection solutions with leading AI and eCommerce players worldwide

Company strategically accelerated investments in scalable infrastructure and next-gen technologies to meet the rising demand for AI-ready data and to future-proof its position among top-tier global companies

First quarter 2025 revenue reached $7.1 million, in line with guidance, net profit was at $0.4 million and adjusted EBITDA exceeded guidance, reaching $1.3 million Cash and debt investments balance at quarter-end amounted to $24 million

TEL AVIV, Israel, May 29, 2025 (GLOBE NEWSWIRE) — Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of web data collection solutions, today announced financial results for the three-month period ended March 31, 2025.

“2025 began with strong momentum, as demand for scalable, high-quality data continues to accelerate, driven by the rapid growth of AI technologies and eCommerce platforms,” said Shachar Daniel, Chief Executive Officer of Alarum.

“During the quarter, several of the world’s leading AI and eCommerce companies significantly expanded their usage of our platform, relying on our advanced proxy infrastructure, innovative data collector, and Website Unblocker, to power data collection, model training, and real-time access to public web data.”

“In line with our long-term vision, we made a deliberate decision to increase investments in our infrastructure and products, aiming to meet the growing global demand for large-scale data solutions. While this impacted our gross margin, it reinforces our position as a foundational player in the AI data ecosystem,” Mr. Daniel added.

“With discipline and vision, we are building the backbone of data access for the AI era. Our technology and collaborations with customers uniquely position us to deliver long-term value for our stakeholders as the market continues to evolve,” Mr. Daniel concluded.

Market Trends, Recent Developments and Business Highlights

Expanded strategic partnerships with major AI and eCommerce players during the first quarter: Notable new collaborations include a top Asian marketplace, a global electronics brand, and a European AI firm, for large-scale data labeling and model fine-tuning with fresh public data.
Redefining industry trends and market dynamics: A new market is emerging around high-quality, scalable data infrastructure. As AI models require constant training and fine-tuning, Alarum is positioned to play a key role in shaping this space and powering the global AI transformation.
Advancing and investing in long-term strategy, supported by strong financials: Alarum continues to pursue its strategic decision to reinvest earnings into innovative products, scaling operations, expanding infrastructure, and strengthening its IP network. This positions the Company to meet rising demand from AI-driven customers and capture long-term value, while maintaining operational efficiency during this pivotal growth phase.
Powering data collection with Alarum’s enhanced offerings portfolio: Tech giants and startups rely on Alarum’s data collector, Website Unblocker, and proxy network to overcome data access barriers.
Entering 2025 with a strong momentum: NetNut Net Retention Rate (“NRR”)¹ reached 1.13 as of March 31, 2025, in yet another consecutive quarter of achieving an NRR well above 1. With its data collection offering, the Company is well-positioned amid a shifting landscape, and early results from its strategic investments and pipeline visibility support the positive outlook for the second quarter of 2025.

______________________

¹ See definition under “Other Metrics”.

Summary of Financial Results²(in millions of U.S. dollars, rounded, except per share amounts and margins)
	For the Three Months Ended March 31,		For the Year Ended December 31,
	2025	2024	2024
	(Unaudited)	(Unaudited)	(Audited)

Total Revenue	7.1	8.4	31.8
of which, Web Data Collection Revenue was	7.0	8.1	30.9
Gross profit	4.8	6.6	23.9
Gross margin (in percentage)	67.5%	78.5%	75.1%
Non-IFRS gross margin (in percentage)	69.4%	80.4%	77.0%
Total operating expenses	4.5	4.0	17.2
Financial income (expense), net	0.2	(0.9)	0.3
Tax expense	0.1	0.3	1.2
Net profit	0.4	1.4	5.8
Adjusted EBITDA	1.3	3.2	9.4
Basic earnings per American Depository Share (“ADS”) (in U.S. dollars)	$0.06	$0.23	$0.87
Non-IFRS basic earnings per ADS (in U.S. dollars)	$0.16	$0.45	$1.26
Cash, cash equivalents and debt investments (including accrued interest)³	24.0	15.1	25.0
Shareholders’ equity²	27.6	17.1	26.4

First Quarter 2025 Financial Analysis

Revenue in Q1 2025 totalled $7.1 million (Q1 2024: $8.4 million). The 15% year-over-year change reflects market dynamics that affected the demand from certain customers since mid-2024.
Cost of revenue in Q1 2025 was $2.3 million (Q1 2024: $1.8 million). The increase is mainly due to the investment in the Company’s IP network, specifically in infrastructure and servers, aligning with its strategic decision to boost its expansion capabilities.
As a result, Gross profit in Q1 2025 amounted to $4.8 million (Q1 2024: $6.6 million).
Operating expenses in Q1 2025 totalled $4.5 million (Q1 2024: $4.0 million). The difference was driven mainly by the increase in research and development salaries and share based payments costs.
Financial income, net, in Q1 2025 was $0.2 million (Q1 2024: financial expense, net, of $0.9 million). This shift was mainly due to the fair value decrease of derivative financial instruments (warrants issued in 2019-2020), resulting from the share price changes during the measured periods.
Net profit in Q1 2025 reached $0.4 (Q1 2024: $1.4 million).
As of March 31, 2025, shareholders’ equity increased to $27.6 million, up from $26.4 million as of December 31, 2024. The increase was driven by the quarterly net profit.
Outstanding ordinary share count as of March 31, 2025, was approximately 69.3 million shares, or 6.9 million in ADSs.

______________________

¹ See definition under “Other Metrics”.
² The table below contains certain non-IFRS financial measures. See “Use of Non-IFRS Financial Results” for additional information regarding these measures and reconciliations to the most comparable IFRS measures.
³ As of the last day of the period.

Financial Outlook

“First quarter revenues were in line with guidance, whilst Adjusted EBITDA exceeded expectations, surpassing our outlook,” said Mr. Shai Avnit, Chief Financial Officer of Alarum.

“Alarum has entered the second quarter of 2025 with solid momentum and demand. Accordingly, second quarter 2025 revenues are estimated at $7.9 million ±3%, and Adjusted EBITDA for the second quarter 2025 is expected to range from $0.5 million to $0.8 million. We remain attentive to market dynamics as the AI market reshapes and are actively optimizing our network infrastructure and product delivery, with a clear roadmap to drive efficiency, maintain high margins, and deliver long-term value to our stakeholders,” Mr. Avnit concluded.

We are unable to present a reconciliation of our estimated Adjusted EBITDA to net profit as we are unable to predict with reasonable certainty, and without unreasonable effort, the impact and timing of certain expenses on our net profit. The financial impact of these expenses is uncertain and is dependent on various factors, including timing, and could be material to our consolidated statements of profit or loss and other comprehensive income (loss).

First Quarter 2025 Financial Results Conference Call

Mr. Shachar Daniel, Chief Executive Officer of Alarum, and Mr. Shai Avnit, Chief Financial Officer of Alarum, will host a conference call today, May 29, 2025, at 8:30 a.m. ET, 5:30 a.m. Pacific time, 3:30 p.m. Israel, to discuss the first quarter of 2025 results and the second quarter 2025 outlook, followed by a Q&A session.

To attend, log in here or dial one of the following numbers, at least five minutes before the call starts: 1-877-407-0789 or 1-201-689-8562. If you are unable to connect using the toll-free number, please try the international dial-in number. An Israeli toll-free number is: 1 809 406 247. Participants will be required to state their name and company upon dialling in.

Replay: The conference call will be broadcast live and available for replay here, after 11:30 a.m. ET on May 29, 2025.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses that the demand for scalable, high-quality data continues to accelerate, driven by the rapid growth of AI technologies and eCommerce platforms; the Company’s focus and strategic; that its technology and collaborations with customers uniquely position it to deliver long-term value for its stakeholders as the market continues to evolve; emergence of a new market around high-quality, scalable data infrastructure; that early results from its strategic investments; pipeline visibility support the positive outlook for the second quarter of 2025; and its estimates regarding second quarter 2025 revenues and Adjusted EBITDA. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Alarum is not responsible for the contents of third-party websites.

Condensed Consolidated Statements of Financial Position
(in thousands of U.S. dollars)
	March 31,				December 31,
	2025		2024		2024
	(Unaudited)				(Audited)
Assets
Current assets:
Cash and cash equivalents	13,952		15,060		15,081
Trade receivables, net	3,789		2,945		3,231
Other receivables	698		1,449		503
	18,439		19,454		18,815

Non-current assets:
Long-term deposits	119		104		121
Other non-current assets	85		119		85
Property and equipment, net	134		110		130
Right-of-use assets	429		709		498
Deferred tax assets	497		244		422
Debt investments at fair value through other comprehensive income	9,331		–		9,256
Debt investments at fair value through profit or loss	564		–		555
Intangible assets, net	677		1,225		811
Goodwill	4,118		4,118		4,118
Total non-current assets	15,954		6,629		15,996
Total assets	34,393		26,083		34,811

Liabilities and equity
Current liabilities:
Trade payables	373		416		251
Other payables	2,815		3,056		4,484
Current maturities of long-term loan	965		353		938
Contract liabilities	2,072		2,728		1,987
Derivative financial instruments	1		952		148
Short-term lease liabilities	362		365		359
Total current liabilities	6,588		7,870		8,167

Non-current liabilities:
Long-term lease liabilities	186		462		261
Long-term loans, net of current maturities	–		691		32
Total non-current liabilities	186		1,153		293
Total liabilities	6,774		9,023		8,460

Equity:
Ordinary shares	–		–		–
Share premium	112,059		104,097		111,892
Other equity reserves	11,705		13,856		11,012
Accumulated deficit	(96,145	)	(100,893	)	(96,553	)
Total equity	27,619		17,060		26,351
Total liabilities and equity	34,393		26,083		34,811

Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss) (in thousands of U.S. dollars, except per share amounts)
	For the Three Months Ended March 31,		For the Year Ended December 31,
	2025	2024	2024
	(Unaudited)	(Unaudited)	(Audited)

Revenue	7,133	8,376	31,824
Cost of revenue	2,318	1,803	7,915
Gross profit	4,815	6,573	23,909

Operating expenses:
Research and development	1,370	1,022	4,495
Sales and marketing	1,827	1,725	7,033
General and administrative	1,285	1,240	5,661
Total operating expenses	4,482	3,987	17,189

Operating profit	333	2,586	6,720

Financial income (expense), net	212	(848)	281
Profit from operations before income tax	545	1,738	7,001
Tax expense	(137)	(298)	(1,221)
Net profit for the period	408	1,440	5,780
Other comprehensive income (loss) for the period Change in fair value of debt investments	72	–	(80)
Total comprehensive income for the period	480	1,440	5,700

Basic profit per share	$0.01	$0.02	$0.09
Diluted profit per share	$0.01	$0.02	$0.08
Basic profit per ADS	$0.06	$0.23	$0.87

Use of Non-IFRS Financial Results

In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of EBITDA (EBITDA loss), Adjusted EBITDA (Adjusted EBITDA loss), non-IFRS net profit (loss), non-IFRS gross profit, non-IFRS gross margin and non-IFRS basic earnings (loss) per share or ADS for the periods presented. The Company defines EBITDA (EBITDA loss) as net profit (loss) before depreciation, amortization and impairment of intangible assets (if any), financial income (expense) and income tax; defines Adjusted EBITDA (Adjusted EBITDA loss) as EBITDA (EBITDA loss) as further adjusted to remove the impact of (i) impairment of goodwill (if any); and (ii) share-based compensation; defines non-IFRS net profit (loss) as net profit (loss) before depreciation, amortization and impairment of intangible assets (if any), impairment of goodwill (if any), financial income (expense) effects primarily related to derivative financial instruments as well as long-term loans, deferred tax effects and share-based compensation; defines non-IFRS gross profit as gross profit adjusted to remove the impact of depreciation, amortization and impairment of intangible assets and share-based compensation recorded under cost of revenues; defines non-IFRS gross margin as the percentage of the non-IFRS gross profit out of revenues; and defines non-IFRS basic earnings (loss) per share or ADS as non-IFRS net profit (loss) divided by the weighted average number of ordinary shares or ADSs. The Company’s management believes the non-IFRS financial information provided in this press release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating its business internally, and as such deemed it important to provide this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with IFRS, and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Investors are encouraged to review the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures provided in the financial statement tables herein.

Other Metrics

Net retention rate (NRR) is a key indicator of customer base health and revenue expansion. It is based on NRR point in time, which measures the revenue growth of current customers over the past four quarters, compared to the revenue generated from these customers during the same period a year earlier.
NRR is calculated as an average of the NRR points in time for the end of the current period and the three preceding quarters.
NRR > 1 (or 100%): Indicates revenue growth driven by existing customers, where upsells and cross-sells outweigh churn.
NRR < 1 (or 100%): Shows revenue loss due to churn exceeding gains from upsells or cross-sells.

Non-IFRS Financial Measures
(in millions of U.S. dollars, rounded)

The following tables present the reconciled effect of the above on the Company’s Adjusted EBITDA; non-IFRS net profit; and non-IFRS gross profit for the three months ended March 31, 2025 and 2024, and the year ended December 31, 2024:

	For the Three Months Ended March 31,		For the Year Ended December 31,
	2025	2024	2024
Net profit	0.4	1.4	5.8
Adjustments:
Depreciation and amortization	0.2	0.2	0.6
Financial expense (income), net	(0.2)	0.9	(0.4)
Tax expense	0.1	0.3	1.4
EBITDA	0.5	2.8	7.4
Adjustments:
Share-based compensation	0.8	0.4	2.0
Adjusted EBITDA for the period	1.3	3.2	9.4

	For the Three Months Ended March 31,		For the Year Ended December 31,
	2025	2024	2024
Net profit	0.4	1.4	5.8
Adjustments:
Depreciation and amortization	0.2	0.2	0.6
Financial expense (income), net effects	(0.2)	0.9	0.1
Deferred tax effects	(0.1)	(0.1)	(0.1)
Share-based compensation	0.8	0.4	2.0
Non-IFRS net profit for the period	1.1	2.8	8.4

	For the Three Months Ended March 31,		For the Year Ended December 31,
	2025	2024	2024
Gross profit	4.8	6.6	23.9
Adjustments:
Depreciation and amortization	0.1	0.1	0.6
Share-based compensation	*	*	*
Non-IFRS gross profit for the period	4.9	6.7	24.5

* Less than $0.1 million

About Alarum Technologies Ltd.

Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of web data collection solutions, empowering organizations to gain a competitive edge by streamlining the collection, extraction, and analysis of large-scale structured data from public online sources. Our data collection solutions by NetNut, are based on our world’s fastest and most advanced and secured hybrid proxy network, which comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. Pushing the boundaries of innovation in data collection, we are building a robust platform, complemented by the Website Unblocker, Data Collector, Data Sets and AI data collector. As the impact of the AI revolution unfolds, Alarum, with its robust market-leading data collection offerings is preparing itself to play a meaningful role as the world reshapes in a new form.

For more information about Alarum and its web data collection solutions, please visit www.alarum.io.

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Investor Relations Contact:

investors@alarum.io

The MIL Network –

May 30, 2025

MIL-OSI: Polar Cooling Review: Does the Polar Cooling Portable AC Really Work? Best Portable AC 2025
Source: GlobeNewswire (MIL-OSI)

New York City, May 29, 2025 (GLOBE NEWSWIRE) — As temperatures rise globally, the demand for personal cooling devices is at an all-time high. Enter the Polar Cooling Portable AC, a sleek, compact solution designed to provide on-the-go relief from the heat. In this review, we’ll delve into the features, performance, pricing, and user feedback to answer the burning question: Does the Polar Cooling Portable AC really work? Is it the best portable air conditioner of 2025?

This article will cover everything you need to know about this innovative cooling device, helping you decide if it’s the right option for your needs.

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What is the Polar Cooling Portable AC?

The Polar Cooling Portable AC is an advanced, energy-efficient air cooling system designed for personal use. Unlike traditional bulky air conditioning units, the Polar Cooling AC is compact, portable, and doesn’t require installation or special tools to operate. Whether you’re working in a hot office or relaxing at home, this unit promises to cool your personal space effectively without consuming large amounts of energy.

Key Features:
- Insta-Frost Technology: Designed to rapidly cool the air in your immediate surroundings.
- Portability: Compact enough to be carried around easily, making it ideal for travel or personal spaces.
- Multi-Function: Not only does it cool the air, but it also functions as a humidifier and air purifier.
It’s an ideal solution for anyone looking for a quick, efficient, and affordable way to stay cool during hot weather without the complexity of larger air conditioning systems.

How Does the Polar Cooling Portable AC Work?

The Polar Cooling Portable AC uses a cooling mechanism called evaporative cooling. This process involves drawing air through a water-soaked filter that absorbs heat from the air. As the water evaporates, the air is cooled and then blown into your personal space.

Key features of its operation:
- USB-Powered: The device is powered via USB, meaning you can charge it from any USB outlet, making it perfect for on-the-go use.
- Rechargeable Battery: With its built-in rechargeable battery, it operates without needing to be plugged into a power outlet continuously, offering portability and convenience.
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Setting up the device is simple:
1. Fill the water tank.
2. Plug it into a USB outlet or charge it fully for portable use.
3. Turn on and adjust the settings according to your cooling preferences.
Design and Build Quality

One of the standout features of the Polar Cooling Portable AC is its design. It’s not only sleek but also built for durability and portability. The unit is compact and can fit in virtually any room, desk, or office setup. Its lightweight structure means you can easily move it from room to room or even take it with you on trips.

Made from premium, eco-friendly materials, it is built to last while being kind to the environment. Its minimalistic design ensures it blends well with any modern decor, from offices to living rooms.

Performance Analysis

When it comes to cooling performance, the Polar Cooling Portable AC delivers on its promise. Here’s how it holds up in real-world conditions:
- Cooling Power: It cools personal spaces effectively, offering a noticeable temperature drop in areas up to 100-200 square feet.
- Noise Levels: Operating at a whisper-quiet level, it provides a comfortable, undisturbed environment for work or relaxation.
- Battery Life: On a full charge, the unit can operate continuously for up to 8 hours, ensuring long-lasting performance throughout the day or night.
Maintenance Requirements are minimal. All you need to do is keep the water tank clean and replace the cooling filters as needed, making it easy to maintain and use over time.

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Energy Efficiency

One of the biggest draws of the Polar Cooling Portable AC is its energy efficiency. Unlike traditional air conditioners that consume large amounts of electricity, this unit operates on a USB-powered system, significantly lowering energy consumption.
- Power Consumption: With its USB charging feature, the Polar Cooling AC draws significantly less power compared to standard units, making it an ideal choice for those looking to reduce their energy bills.
- Comparison with Traditional ACs: In comparison to traditional air conditioners, the Polar Cooling unit uses about 80% less energy, making it an environmentally friendly and cost-effective solution for personal cooling needs.
How to Maximize the Efficiency of Polar Cooling AC in Hot Weather

When using the Polar Cooling Portable AC in hot weather, getting the most out of the unit requires more than just turning it on. Maximizing its efficiency ensures that you stay cool while saving on energy costs and extending the lifespan of your device. Here are several tips to help you get the best performance from your Polar Cooling AC during the summer heat:
1. Place the Unit in the Right Spot
For optimal cooling, position the Polar Cooling Portable AC in an area where airflow is unimpeded. Avoid placing it near walls, large furniture, or in corners, as this can restrict airflow and reduce its cooling effectiveness. It’s best to place the unit in the center of the room or near a window for better air circulation. Additionally, make sure the cooling vents are facing directly towards you to maximize cooling efficiency.
2. Keep the Water Tank Full
The Polar Cooling Portable AC uses evaporative cooling technology, which relies on the water tank to function effectively. Ensure that the tank is always filled with fresh water for the best cooling results. If the water levels are low, the device will struggle to maintain a consistent cooling effect. Refill the tank as needed, especially during prolonged use in hot weather, to ensure the unit runs at full capacity.
3. Regular Maintenance and Cleaning
To maintain peak performance, it’s important to clean and maintain the Polar Cooling AC regularly. The cooling filter should be checked for dirt and debris, which can reduce the airflow and cooling power. Clean the filter every couple of weeks, or more often if you’re using it in dusty environments. Also, empty and rinse the water tank periodically to prevent mold or bacteria build-up, which can affect both the unit’s performance and air quality.
4. Use the AC in Small Spaces
The Polar Cooling Portable AC is most efficient when used in smaller spaces. While it can provide cooling in larger rooms, its cooling power is optimized for areas like bedrooms, offices, or small living rooms. In hot weather, avoid using it in large, open areas where the cooling effect may dissipate too quickly. Using it in a confined space, such as a small room or office, will help create a more comfortable and consistent cooling environment.
5. Utilize the Fan and Humidifier Features
Along with cooling, the Polar Cooling AC also serves as a humidifier and fan. Use the fan function to circulate cool air more effectively across the room, especially in rooms with poor airflow. Additionally, when the air feels dry due to high heat, the humidifier feature can add moisture back into the air, making the cooling effect more comfortable. Proper use of all functions will help maximize the unit’s efficiency.
6. Close Doors and Windows
During the hottest part of the day, it’s important to keep doors and windows closed to trap cool air inside. This prevents hot air from entering the room and ensures that your Polar Cooling AC can maintain a lower, more consistent temperature.
By following these simple tips, you’ll get the most out of your Polar Cooling Portable AC, staying comfortable even during the hottest days of summer while maximizing energy efficiency.
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How to Use Polar Cooling for Sleep Comfort

Getting a good night’s sleep is essential, and Polar Cooling Portable AC can be a game-changer in creating the ideal sleep environment, especially during warm summer nights. Here’s how to use it effectively for better sleep comfort.
First, position the Polar Cooling Portable AC in your bedroom, preferably near your bed but not directly facing you. This will ensure that the cool air circulates throughout the room, providing an even temperature without making the airflow too intense. It’s important to adjust the fan speed to a comfortable level—setting it on low or medium works best for creating a gentle, consistent breeze that won’t disturb your rest.
Next, make sure the water tank is filled and fresh. The evaporative cooling system relies on water to work effectively, so keep it filled to ensure continuous cooling. If you prefer a more humid environment, use the humidifier feature to add moisture to the air, which can help prevent dryness that might disrupt your sleep.
The quiet operation of the Polar Cooling unit is a huge benefit when using it for sleep. Unlike larger air conditioning units, which can be noisy, this portable AC runs silently, ensuring that you won’t be disturbed by any loud, distracting sounds while trying to fall asleep.
Finally, make sure the room is sealed by closing windows and doors to retain cool air. By using the Polar Cooling Portable AC correctly, you can maintain a comfortable, cool temperature throughout the night, promoting a restful and refreshing sleep experience.
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Pricing & Refund Policy

Pricing Overview
The Polar Cooling Portable AC is competitively priced to offer an affordable solution for personal cooling needs. As of now, the standard retail price is $89.99, with an exclusive 50% discount available through the promo code CHILL25.
For those interested in multiple units, bundle deals are available:
- 1 Unit: $89.99
- 2 Units: $84.99/unit
- 3 Units: $79.99/unit
Each purchase includes one Polar Cooling unit and one charging system, providing a comprehensive solution for personal cooling needs.

Refund Policy
Customer satisfaction is a priority, and the Polar Cooling Portable AC comes with a 90-day money-back guarantee. To qualify for a full refund:
- The product must be returned in its original, unopened condition.
- The return must be initiated within 90 days of the original purchase date.
- Original shipping fees are non-refundable.
- Return shipping costs are the responsibility of the customer.
Please note that opened or used units are not eligible for a refund. For returns, contact customer service at 1-888-851-9719 to initiate the process and receive a Return Merchandise Authorization (RMA) number.
Disclaimer on pricing: Prices vary by package and seasonal promotions. Always refer to the official website for up-to-date pricing, as it is subject to change at any time.
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Customer Reviews and Feedback

James T., New York, NY

“I live in a small apartment in New York City, and the summer heat can get unbearable. I decided to give the Polar Cooling Portable AC a try, and I am absolutely amazed by its performance! It cools down my room within minutes, and the fact that it’s so easy to carry around makes it perfect for my mobile lifestyle. Highly recommend for anyone living in small spaces!”

Sarah M., Los Angeles, CA

“I’ve been using the Polar Cooling Portable AC in my office for the past month, and it’s been a game changer. The cooling effect is fantastic, and I love that I can move it from my office to the living room with ease. It’s super quiet and doesn’t disrupt my work. Plus, it’s energy-efficient, which is a huge plus in California’s hot weather. Definitely worth the investment!”

Michael R., Chicago, IL

“As someone who travels frequently for work, I needed a portable cooling solution for hotel rooms, and this unit is perfect. The Polar Cooling Portable AC is small enough to fit in my suitcase, but powerful enough to cool down any room. It’s been a lifesaver on several trips already. Great performance and very easy to use!”

Emily K., Miami, FL

“Living in Miami means dealing with intense heat and humidity. The Polar Cooling Portable AC has been my savior this summer. It cools my bedroom perfectly and helps me sleep comfortably at night. It’s so easy to set up, and I love that it doesn’t take up much space. This is a must-have for anyone dealing with hot weather in small spaces.”

David H., Dallas, TX

“I purchased the Polar Cooling Portable AC for my home office, and I couldn’t be happier. Texas summers are brutal, and this portable unit cools my entire office without using too much energy. I love how compact and quiet it is, and it has made working from home much more enjoyable. It’s one of the best purchases I’ve made this year.”

Comparison with Competitors

When compared to other popular portable AC units, the Polar Cooling Portable AC offers:
- Better Portability: Unlike many other brands, the Polar Cooling AC is designed for maximum portability without sacrificing performance.
- Eco-Friendliness: With its low energy consumption and eco-friendly design, it stands out in the market for users looking for sustainable solutions.
- Multi-functionality: While many portable ACs focus solely on cooling, the Polar Cooling model also works as a humidifier and air purifier, offering a more comprehensive solution.
Cool Your Space Anytime, Anywhere – Buy Polar Cooling Portable AC Today!

Pros and Cons

Pros:
- Compact and portable
- Multi-functional (cooling, humidifying, purifying)
- Energy-efficient, eco-friendly design
- Affordable compared to traditional AC units
Cons:
- Limited cooling capacity for larger rooms
- Requires periodic refilling of water tank
Who Should Consider Purchasing?

The Polar Cooling Portable AC is perfect for:
- Office workers who need a personal cooling solution.
- Students in dorm rooms or apartments looking for a compact AC.
- Travelers who want a portable and rechargeable option for hotel rooms or outdoor settings.
FAQs

Here are some of the most common questions about the Polar Cooling Portable AC:
Q1: How long does the battery last?
The Polar Cooling Portable AC provides up to 8 hours of continuous use on a full charge, depending on the cooling level and usage environment. It’s perfect for all-day cooling in small spaces.
Q2: Can it be used while charging?
Yes, you can use the Polar Cooling Portable AC while it’s charging, which makes it very convenient if you don’t want to rely on battery life.
Q3: Is it suitable for humid environments?
Yes, the Polar Cooling unit is designed to function well in moderately humid environments. It also doubles as a humidifier, which can be beneficial for maintaining a comfortable atmosphere in drier areas.
Q4: What maintenance is required?
To maintain the Polar Cooling Portable AC, simply clean the water tank regularly to prevent buildup. You’ll also need to replace the cooling filter as recommended by the manufacturer, ensuring optimal performance.
Q5: Does it come with a warranty?
The Polar Cooling Portable AC comes with a 1-year warranty that covers manufacturing defects and malfunctions under normal usage conditions.
Get Yours Before It Sells Out – Polar Cooling Portable AC Won’t Last Long!

Why Choose Polar Cooling Portable AC Over Traditional AC Units?
- Portability vs. Fixed AC Units: Compare the benefits of a portable unit like the Polar Cooling AC versus traditional wall-mounted or window units.
- Installation Ease: Discuss the convenience of using a portable AC that doesn’t require installation compared to complex traditional systems.
- Space Efficiency: Explain how the Polar Cooling unit saves space, especially in apartments and smaller living areas.
How Effective Is the Polar Cooling Portable AC for Various Environments?
- Indoor Use: Evaluate its performance in different indoor environments like bedrooms, offices, and living rooms.
- Outdoor Use: Discuss how effective it is for outdoor activities such as camping, picnics, or poolside relaxation.
- Travel-Friendly: Explore its suitability for travel in RVs, hotel rooms, or even outdoor adventures.
Understanding Evaporative Cooling: What You Need to Know
- How Evaporative Cooling Works: A deeper dive into the science behind evaporative cooling and why it’s effective in certain climates.
- Environmental Considerations: Discuss how the Polar Cooling Portable AC can be an eco-friendly alternative to traditional cooling methods.
- Humidity Impact: Explain how the device works best in areas with low to moderate humidity and the science behind it.
Beat the Heat NOW – Polar Cooling AC is Flying Off the Shelves

Polar Cooling in Different Climates: Works Best in Hot or Dry Environments?

The Polar Cooling Portable AC is a versatile cooling solution, but its performance is highly influenced by the climate in which it’s used. Understanding how the unit works in different climates is key to maximizing its effectiveness.
The Polar Cooling Portable AC uses evaporative cooling technology, which works by drawing warm air through a water-soaked filter. As the water evaporates, it cools the air and blows it into your space. This process is most effective in dry climates with low humidity. In areas like the desert or arid regions, the air can absorb more moisture, allowing the unit to cool the air more efficiently.
In contrast, in humid environments, such as coastal areas or places with high rainfall, the air is already saturated with moisture, which limits the effectiveness of evaporative cooling. In these areas, the Polar Cooling unit may still provide some relief, but it won’t cool the air as efficiently as it would in a dry climate. The high moisture content in the air reduces the evaporation rate, making the cooling effect less pronounced.
However, in hot but dry climates, the Polar Cooling Portable AC excels, offering excellent performance and cooling efficiency. For homeowners in these regions, the Polar Cooling unit is an ideal choice to combat the heat without the energy consumption of traditional air conditioning systems.
Act Fast – Polar Cooling AC Is Almost Gone! Order Now!

Common Issues and How to Fix Them
- Water Tank Leaks: Solutions for potential water tank leakage issues, along with troubleshooting tips.
- Cooling Performance Drops: Tips on how to maintain consistent cooling performance by cleaning filters and refilling water.
- Battery Life Issues: How to extend battery life and what to do if the unit isn’t holding a charge.
Polar Cooling Portable AC for Healthier Air Quality
- Air Purification Features: Discuss the additional benefit of air purification that comes with this unit.
- Allergy Relief: How the Polar Cooling AC can help reduce allergens like dust and pollen.
- Humidity Control: Explain how the built-in humidifier feature benefits respiratory health and comfort.
How to Maximize the Life of Your Polar Cooling Portable AC
- Maintenance Tips: Provide a step-by-step guide on how to clean the unit, replace filters, and keep it running efficiently.
- Storage Tips: Best practices for storing the device during the off-season to extend its life.
- Troubleshooting: Basic troubleshooting for common issues like low airflow or insufficient cooling.
Is Polar Cooling Suitable for Larger Spaces?
- Effective Cooling Range: Discuss the size of the space the Polar Cooling AC can effectively cool and whether it’s suited for larger rooms.
- Considerations for Large Homes: Offer alternative solutions for people living in larger homes who may need additional cooling units or supplementary devices.
Hurry! Limited Stock – Don’t Miss Out on Polar Cooling for Instant Relief!

Polar Cooling Portable AC: A Must-Have for Students and College Dorms
- Portable & Convenient: Why this product is a perfect choice for college students living in dorms or apartments without central AC.
- Space-Saving: How it helps students save space in small living conditions.
- Energy Efficiency for Students: How this portable AC can keep electricity costs down, ideal for a student budget.
Polar Cooling Portable AC for Small Business Owners

As a small business owner, maintaining a comfortable environment for both employees and customers is crucial for productivity and satisfaction. The Polar Cooling Portable AC offers an affordable, energy-efficient solution for cooling small business spaces, making it an ideal choice for a range of business environments, from home offices to retail shops.
One of the key benefits of the Polar Cooling Portable AC for small business owners is its portability. Unlike traditional air conditioning units that require permanent installation and significant space, this compact and lightweight unit can be easily moved from room to room. Whether you need to cool an office, a reception area, or a small retail space, the Polar Cooling AC can adapt to your needs, providing localized cooling exactly where it’s needed most.
Additionally, the energy efficiency of the Polar Cooling Portable AC is a major advantage for small businesses looking to cut down on operational costs. Traditional air conditioning units can consume a significant amount of energy, especially during the summer months. However, the Polar Cooling AC uses USB power and operates at a fraction of the cost, helping you save money on your electricity bills while still ensuring a comfortable atmosphere for both staff and customers.
The quiet operation of the Polar Cooling unit is another benefit for business environments. Unlike some larger air conditioners that can produce disruptive noise, this portable AC operates at a low noise level, making it ideal for customer-facing businesses or office environments where noise can be distracting.
In conclusion, the Polar Cooling Portable AC offers small business owners an efficient, cost-effective, and portable way to keep their spaces cool and comfortable, ensuring a productive environment without the added hassle of traditional AC systems.
This Offer Won’t Last – Buy Polar Cooling Portable AC Now Before It’s Gone!

How Polar Cooling Compares to Other Personal Cooling Devices
- Fans vs. Portable AC: Why the Polar Cooling unit is a better choice than traditional fans, and how it provides more effective cooling.
- Personal Coolers: Compare this unit with other small-scale cooling products like misting fans or portable fans.
- Swamp Coolers: A side-by-side comparison of swamp coolers and the Polar Cooling unit in terms of effectiveness and convenience.
Polar Cooling Portable AC for Offices and Workspaces
- Enhanced Productivity: Discuss how a cool workspace can improve focus and productivity.
- Quiet Operation: The advantage of using the Polar Cooling AC in an office without disruptive noise.
- Easy Portability Between Offices: How employees can easily move the AC from one office space to another.
Why Polar Cooling is the Ultimate Summer Investment for Homeowners

As summer temperatures rise, homeowners are always on the lookout for ways to stay cool without breaking the bank on expensive air conditioning units. The Polar Cooling Portable AC is the ultimate summer investment for homeowners seeking an affordable, efficient, and convenient cooling solution.
First, the portability of the Polar Cooling unit makes it an ideal choice for homeowners. Unlike traditional air conditioners that require complex installations and are fixed in one spot, the Polar Cooling AC is compact and lightweight. You can move it from room to room or even take it with you when traveling, ensuring that you stay comfortable no matter where you are.
The energy efficiency of the Polar Cooling Portable AC is another reason it’s a smart investment. Traditional air conditioners can lead to high electricity bills, especially during the peak summer months. In contrast, the Polar Cooling AC uses minimal power, helping homeowners save money while still providing effective cooling.
Moreover, with features like humidification and air purification, it doesn’t just cool your space—it improves air quality and provides added comfort during hot, dry weather.
In conclusion, the Polar Cooling Portable AC is a cost-effective, versatile, and efficient way for homeowners to stay cool this summer, making it a must-have investment for beating the heat.
The Ultimate Cooling Solution is Here – Get Your Polar Cooling Portable AC Now!

Customer Support and Warranty Information
- Customer Service: Overview of the support available for Polar Cooling users, including troubleshooting and replacement parts.
- Warranty Coverage: Clarify the details of the product’s warranty and what it covers.
- How to Contact Support: Provide information on how to reach Polar Cooling’s customer service for issues related to the product.
Final Thoughts

In conclusion, the Polar Cooling Portable AC stands out in the crowded market of portable cooling devices. Its unique combination of cooling, humidifying, and purifying functions makes it an excellent option for anyone who needs personal cooling in a small, convenient package. Whether you’re working at your desk, relaxing at home, or traveling, this portable AC offers exceptional value for its price.
Its energy efficiency, compact size, and user-friendly features position it as one of the best portable cooling options of 2025. While it may not cool large rooms like traditional air conditioning systems, it excels in small spaces and delivers impressive results where it matters most.
If you’re in the market for a portable, energy-efficient AC, the Polar Cooling Portable AC is certainly worth considering. With real user feedback and its multi-functional capabilities, it’s a smart investment for those who value comfort and convenience.

Company: Polar Cooling
Address: 6413 Bandini Blvd, Commerce, CA 90040, USA
Email: cs@getultimateac.com
Order Phone Support: 1-888-817-9080 (7AM – 5PM PST)

Disclaimer Legal Disclaimer
The information presented in this article is provided for general informational purposes only. While efforts are made to ensure accuracy and completeness, no content herein should be interpreted as a substitute for professional advice, product instructions, or manufacturer guidance. Product performance may vary depending on usage, environmental conditions, or maintenance habits. The Polar Cooling Portable AC is intended solely for non-medical, personal comfort use and is not designed to diagnose, treat, or prevent any medical condition. Readers with specific health concerns should consult a licensed healthcare provider before using any evaporative or air-modifying device.
The content in this article may include subjective assessments, third-party testimonials, or editorial opinion based on publicly available information. All users are responsible for their own due diligence prior to purchase.
Product specifications, pricing, and promotions mentioned are accurate at the time of publication but may change without notice. Readers are strongly encouraged to consult the official product website for the most current and accurate information before making any purchasing decision.
This article is not authored by or affiliated with the product manufacturer, and all trademarks are the property of their respective owners.

Affiliate Disclosure
This content may include affiliate links. If a purchase is made through such links, the publisher may receive a commission at no additional cost to the reader. These commissions help support editorial and content development but do not influence the opinions or recommendations shared.
The publisher of this article is not responsible for pricing discrepancies, product availability, incorrect claims, or typographical errors. All liability rests solely with the manufacturer and retail provider of the product. Syndication partners, editorial distributors, and third-party platforms sharing this content are likewise held harmless from any consequence resulting from use, misuse, or misunderstanding of the information contained herein.

Attachment
- Polar Cooling Review
The MIL Network –
May 30, 2025
MIL-OSI: Hyperscale Data Subsidiary Ault Capital Group Plans to Launch XRP Lending Platform for U.S. Public Companies in Q3 2025

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, May 29, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned subsidiary, Ault Capital Group, Inc. (“ACG”) is planning to launch an enterprise-focused XRP lending platform (the “Platform”) in the third quarter of 2025. The Platform, which will initially be a beta version, is expected to be ACG’s first decentralized finance (“DeFi”) application.

The Platform will be exclusively available to public companies listed on the New York Stock Exchange, the NYSE American and all three tiers of the NASDAQ Stock Market. Eligible applicants will be able to apply to borrow up to a fixed amount of XRP (each, a “Loan”) on terms and conditions negotiated between the applicant and ACG. Once finalized, the Loan details will be posted on-chain. The Loans are expected to be secured by assets of the applicant and/or convertible into registered shares of common stock of the applicant.

As the Loans are currently anticipated to be repaid in XRP, ACG expects to utilize XRP futures contracts on the Chicago Mercantile Exchange to hedge market exposure, bringing a different approach to risk management and financial sophistication to cryptocurrency-based lending. The Platform will leverage the XRP Ledger to facilitate fast, low cost, and secure lending, backed by ACG’s recently announced initiative to acquire up to $10 million of XRP.

ACG is seeking to deliver a secure, compliant and institutional-grade solution for blockchain-based lending. The Platform is part of ACG’s broader initiative to tokenize real-world assets, provide alternative financing solutions to listed companies, and facilitate cross-border settlements using blockchain technology. Additional crypto-financial instruments are expected to be announced in the coming months.

“We are seeking to build infrastructure that merges traditional finance with blockchain technology,” said Milton “Todd” Ault, III, Executive Chairman of Hyperscale Data. “With the host of enterprise features offered by XRP and the XRP Ledger, institutional borrowers and lenders now have access to integrated hedging and risk management tools as part of their operations. We look forward to exploring the desire of other publicly traded companies to participate in DeFi transactions that can provide greater transparency, efficiency and security.”

Hyperscale Data notes that acquisitions of XRP and the development and/or viability of the Platform are subject to various risks and uncertainties, one or more which could result in the planned acquisitions of XRP and the development of the Platform being curtailed, delayed or terminated, including, but not limited to: the volatility in XRP market price; the inability to, or cost prohibitive nature of, adequately hedging market exposure to XRP; the inability of the Company to have sufficient capital to purchase the intended amount of XRP; and regulatory challenges, consents or approvals, if necessary. The Company will continue to monitor market conditions and may increase or decrease its holdings of XRP as it deems appropriate.

For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

About Hyperscale Data, Inc.

Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence (“AI”) ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support high-performance computing services, though it may at that time continue to mine Bitcoin. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235

The MIL Network –

May 29, 2025
MIL-OSI: Influencer Crypto Costa Opens Short Position on XRP via BYDFi
Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, May 29, 2025 (GLOBE NEWSWIRE) — Crypto Costa, a well-known trading educator and content creator, has announced that he is initiating a short position on XRP, drawing notable attention and discussion across the trading community. The position was opened on BYDFi, a globally renowned crypto trading platform where Costa serves as a global brand ambassador.

XRP Surges Past $2.3 Amid Bullish Momentum

XRP recently climbed to $2.3, marking a significant rally after clearing a key psychological resistance level. The price movement follows renewed optimism in the broader Ripple ecosystem, fueled by legal progress and sustained investor interest. Trading volumes and social metrics have surged, reflecting growing retail and institutional participation in the asset.

BYDFi Ambassador Crypto Costa Against the Tide

While broader sentiment remains optimistic, Costa has taken a contrarian stance by initiating a short-selling strategy against XRP’s rally.

“I’m starting to scale into a short on #XRP. First short entry at $2.3,” Costa posted on X. “I think the top for this centralized coin is long gone, so I’m planning to hold the short through the upcoming dumps in the coming weeks and months.”

While Costa’s tone remains provocative, the move has sparked renewed discussion about XRP’s short-term volatility. As a trader, he noted BYDFi’s execution speed, depth of liquidity, and contract infrastructure as factors influencing his choice of platform for this trade.

About Crypto Costa

Crypto Costa is recognized for his outspoken market views and educational content across X and YouTube. Known for his contrarian takes, he shares trading insights with a global audience and joined BYDFi as a brand ambassador earlier this year.

About BYDFi

Established in 2020, BYDFi has grown to serve over 1,000,000 users across 190+ countries and regions. The platform has been recognized by Forbes as one of the Best Crypto Exchanges & Apps for Beginners of 2025, and offers a full suite of trading products—including spot, perpetual contracts, copy trading, trading bots, and on-chain tools—designed to support both beginners and experienced crypto users.

BYDFi is committed to providing a world-class crypto trading experience for every user.

BUIDL Your Dream Finance.
- Website: https://www.bydfi.com
- Support email: cs@bydfi.com
- Business partnerships: bd@bydfi.com
- Media inquiries: media@bydfi.com
Twitter( X ) | LinkedIn | Telegram | YouTube | How to Buy on BYDFi

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/445ba42c-a6e0-4f63-b56b-e4243bd0f2d7

https://www.globenewswire.com/NewsRoom/AttachmentNg/1c78e22a-1dca-4cd4-9368-678f28badf30

The MIL Network –
May 29, 2025
MIL-OSI: Zeo Energy Corp. to Acquire Heliogen, Inc., Expected to Create a Clean Energy Platform for Residential, Commercial, and Utility Markets
Source: GlobeNewswire (MIL-OSI)

Acquisition Seeks to Combine Zeo’s Solar Energy Platform with Heliogen’s Advanced Clean Storage Solutions

Transaction Represents Culmination of Heliogen’s Comprehensive Strategic Alternatives Review Process

NEW PORT RICHEY, Fla. and PASADENA, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Zeo Energy Corp. (Nasdaq: ZEO) (“Zeo Energy,” or “Zeo”), a leading Florida-based provider of residential solar and energy efficiency solutions, and Heliogen, Inc. (OTCQX: HLGN) (“Heliogen”), a provider of on-demand clean energy technology solutions, today announced they have entered into a definitive agreement and plan of merger and reorganization (the “Merger Agreement”) pursuant to which Zeo will acquire all of Heliogen’s outstanding equity securities in an all-stock transaction. The transaction is currently expected to close in the third quarter of 2025, subject to customary closing conditions.

Following the closing of the transaction, Zeo plans to leverage Heliogen’s solutions, brand, intellectual property, capital, and technical talent to establish a division focused on long-duration energy generation and storage for commercial and industrial-scale facilities, including artificial intelligence (AI) and cloud computing data centers. The transaction is expected to create a robust clean energy platform spanning residential, commercial, and utility-scale markets, supported by internal financing capabilities and domain expertise.

Management Commentary

“Heliogen brings a set of practical solutions to customers, particularly data centers, looking for longer duration energy storage with substantially lower costs than alternatives on the market,” said Tim Bridgewater, CEO of Zeo Energy. “Through this acquisition, we believe that Zeo will be able to accelerate our vision of serving energy consumers across the spectrum – from residential rooftops to larger-scale industrial solar and storage applications to build an energy platform at scale.”

“We believe this combination offers a compelling opportunity for Heliogen stockholders through the opportunity to participate in the substantial growth potential of the combined company,” added Christiana Obiaya, CEO of Heliogen. “We believe that Zeo’s proven track record and network of customers can enhance the value creation opportunities for Heliogen’s solutions and technical capabilities, while enhancing liquidity for stockholders. We’re proud to be joining forces to scale practical, dispatchable clean energy solutions. This transaction is the result of the Heliogen Board’s comprehensive review of strategic alternatives. Our Board is unanimous in its belief that this transaction is the optimal path forward and in the best interest of our stockholders.”

Strategic Rationale
- Expanded Market Reach: The transaction unites Zeo’s existing residential solar and storage footprint with Heliogen’s long-duration energy storage expertise. Heliogen’s commercial and utility-scale thermal storage solutions address mission-critical power quality and energy capacity issues faced by AI and cloud computing data centers, while concurrently aiding grid stability.
- Operational Synergies: The transaction is expected to streamline costs and reduce corporate overhead, while retaining core technical and commercial talent.
- Strengthened Balance Sheet: At close, Zeo anticipates benefiting from Heliogen’s incremental liquidity, supporting investments for future growth in the solar and energy storage space.
- Enhanced Financing Capabilities: Zeo’s affiliated financing arm, which has provided over $44 million in clean energy tax equity financing to date, has the ability to be used for future Heliogen utility-scale and long-duration energy storage projects.
- Accelerated Growth Opportunities: The transaction seeks to position Zeo to capitalize on increasing demand for resilient, cost-effective, low-carbon energy infrastructure, supported by favorable long-term tailwinds and potential tax equity investments.
Transaction Details and Closing Timeline

Under the terms of the Merger Agreement, upon the closing of the transaction, Heliogen’s securityholders will receive shares of Zeo’s Class A common stock valued at approximately $10 million in the aggregate, based on a Zeo Class A common stock price of $1.5859 per share, and subject to an adjustment mechanism based on Heliogen’s net cash at the closing.

The proposed transaction has been unanimously approved by the Board of Directors of both companies and is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions, including approval by Heliogen’s stockholders, as well as Heliogen having a specified minimum amount of net cash at the closing. Certain Heliogen stockholders holding approximately 23% of Heliogen’s outstanding shares of common stock have entered into voting agreements, pursuant to which they have agreed, among other things, to vote all of such shares in favor of the proposed transaction. The proposed transaction will not require the approval of Zeo’s stockholders under Nasdaq rules.

Advisors

Piper Sandler & Co. is acting as financial advisor and Ellenoff Grossman & Schole LLP is acting as legal counsel to Zeo.

Pickering Energy Partners is acting as financial advisor and Cooley LLP is acting as legal counsel to Heliogen.

About Zeo Energy Corp.

Zeo Energy Corp. is a Florida-based regional provider of residential solar, distributed energy, and energy efficiency solutions. Zeo Energy focuses on high-growth markets with limited competitive saturation. With its differentiated sales approach and vertically integrated offerings, Zeo serves customers who desire to reduce high energy bills and contribute to a more sustainable future. For more information on Zeo Energy Corp., please visit www.zeoenergy.com.

About Heliogen, Inc.

Heliogen (OTCQX: HLGN) is a renewable energy technology company that provides solutions for delivering cost-effective, low-carbon energy production around the clock. By combining commercially proven solar technologies with thermal systems expertise, Heliogen supports customers in achieving a practical transition to cleaner energy. For more information about Heliogen, please visit www.heliogen.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended (the “Securities Act“), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to Zeo and/or Heliogen. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, such as statements regarding the structure, timing, and completion of the proposed transaction between Zeo and Heliogen and the vision, goals, and trajectory of Zeo following the proposed transaction. The words “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Zeo’s or Heliogen’s views as of any subsequent date, and neither Zeo nor Heliogen undertakes any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, Zeo’s Heliogen’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the occurrence of any event, change, or other circumstances that could give rise to the right of one or both of Zeo or Heliogen to terminate the Merger Agreement; the possibility that the proposed transaction does not close when expected or at all because the conditions to closing are not satisfied on a timely basis or at all, including the failure to timely obtain stockholder approval for the proposed transaction from Heliogen’s stockholders, if at all; the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all; the possibility that the vision, goals, and trajectory of Zeo following the proposed transaction are not timely achieved or realized, if at all; the possibility that the integration of the two companies may be more difficult, time-consuming, or costly than expected; the possibility that the proposed transaction may be more expensive or take longer to complete than anticipated, including as a result of unexpected factors or events; the outcome of any legal proceedings that may be instituted against Zeo, Heliogen or others related to the proposed transaction; Zeo’s or Heliogen’s success in retaining or recruiting, or changes required in, its officers, key employees, or directors; Zeo’s ability to maintain the listing of its common stock and warrants on Nasdaq; limited liquidity and trading of Zeo’s or Heliogen’s securities; geopolitical risk and changes in applicable laws or regulations; the possibility that Zeo or Heliogen may be adversely affected by other economic, business, and/or competitive factors; operational risk; litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on Zeo’s or Heliogen’s resources; and other risks and uncertainties, including those included under the heading “Risk Factors” in Zeo’s and Heliogen’s Annual Reports on Form 10-K filed with the SEC for the year ended December 31, 2024 and in subsequent periodic reports and other filings with the SEC. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Zeo or Heliogen, or their respective directors, officers or employees or any other person that Zeo or Heliogen will achieve their objectives and plans in any specified time frame, or at all.

Additional Information and Where to Find It

In connection with the proposed transaction, Zeo and Heliogen intend to file relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 (the “Registration Statement”), which will include a proxy statement of Heliogen that will also constitute a prospectus of Zeo with respect to the shares of class A common stock of Zeo to be issued in the proposed transaction (the “proxy statement/prospectus”). After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to stockholders of Heliogen. This press release is not a substitute for any registration statement or proxy statement/prospectus, or other documents Zeo and/or Heliogen may file with the SEC in connection with the proposed acquisition. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, STOCKHOLDERS AND INVESTORS OF HELIOGEN AND ZEO ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AND ANY OTHER DOCUMENTS FILED BY HELIOGEN AND/OR ZEO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. The Registration Statement, the proxy statement/prospectus and other documents filed by Zeo and Heliogen with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by Heliogen online at investors.heliogen.com, and will be able to obtain free copies of the Registration Statement, proxy statement/prospectus and other documents filed with the SEC by Zeo online at investors.zeoenergy.com.

Participants in the Solicitation

This press release is not a solicitation of proxies in connection with the proposed transaction. However, under SEC rules, Heliogen, Zeo and certain of their respective directors, executive officers and other members of their management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the interests of Heliogen’s directors and executive officers and their ownership of Heliogen’s stock is set forth in Heliogen’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on March 27, 2025 (the “2024 Heliogen 10-K”). Information regarding the interests of Zeo’s directors and executive officers is set forth in Zeo’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on May 28, 2025 (the “2024 Zeo 10-K”). To the extent that either Zeo’s or Heliogen’s directors and executive officers and their respective affiliates have acquired or disposed of security holdings since the “as of” date indicated in the 2024 Zeo 10-K or 2024 Heliogen 10-K, such transactions have been or will be reflected on Statements of Change in Ownership on Form 4 or amendments to beneficial ownership reports on Schedule 13D filed with the SEC.

Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus relating to the proposed acquisition when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov, from Heliogen’s website at https://investors.heliogen.com/ and from Zeo’s website at https://investors.zeoenergy.com/.

No Offer or Solicitation

This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or sell any securities or the solicitation of any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or in a transaction exempt from the registration requirements of the Securities Act.

Zeo Energy Corp. Contacts

For Investors:
Tom Colton and Greg Bradbury
Gateway Group
ZEO@gateway-grp.com

For Media:
Zach Kadletz
Gateway Group
ZEO@gateway-grp.com

Heliogen Contacts

Investors Contact:
Phelps Morris
Chief Financial Officer
Phelps.Morris@heliogen.com

Heliogen Media Contact:
Cory Ziskind
ICR, Inc.
HeliogenPR@icrinc.com

The MIL Network –
May 29, 2025

MIL-OSI: Form 8.3 – AXA INVESTMENT MANAGERS: ALPHA GROUP INTERNATIONAL PL

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	AXA Investment Managers S.A.
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Alpha Group International plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	28 May 2025
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”	N/A

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	0.2p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	712,276	1.68
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	712,276	1.68

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/Sale	Number of securities	Price per unit
0.2p ordinary	Sale	2,340	GBP 30.11

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure:	29 May 2025
Contact name:	Anthony GILSOUL
*Telephone number:**	+33 1 44 45 97 54

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

The MIL Network –

May 29, 2025

MIL-OSI: Defiance Launches CVNX: The First 2X Long ETF for Carvana Co.

Source: GlobeNewswire (MIL-OSI)

MIAMI, May 29, 2025 (GLOBE NEWSWIRE) — Defiance ETFs introduces CVNX, the Defiance Daily Target 2X Long CVNA ETF (CVNX), a 2X leveraged single-stock ETF designed to provide amplified exposure to Carvana Co. (NYSE: CVNA). This ETF offers traders a way to pursue enhanced upside potential in Carvana without the need for a margin account.

CVNX seeks daily investment results, before fees and expenses, of two times (200%) the daily percentage change in the share price of Carvana Co., a trailblazer in the digital transformation of used-car retail.

“The Defiance Daily Target 2X Long CVNA ETF (CVNX) unleashes the full throttle of Carvana’s meteoric rise—up nearly 200% in the last year with Q1 2025 revenue smashing $4.23 billion. This ETF is built for savvy traders ready to amplify their stake in a company that’s rewriting the rules of used-car retail. With CVNA’s relentless growth, we’re giving investors the tools to seize this moment and ride the wave of automotive disruption.”
— Sylvia Jablonski, CEO and CIO, Defiance ETFs

For more information, visit DefianceETFs.com.

The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues a daily leveraged investment objective, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of the Underlying Security. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance declines over a period longer than a single day. An investor could lose the full principal value of their investment within a single day.

An investment in CVNX is not an investment in Carvana Co.

About Defiance ETFs

Founded in 2018, Defiance is at the forefront of ETF innovation. Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs. Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

IMPORTANT DISCLOSURES

Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and / or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

Total return represents changes to the NAV and accounts for distributions from the fund.

CVNA Risks: The Fund invests in swap contracts and options that are based on the share price of CVNA. This subjects the Fund to certain of the same risks as if it owned shares of CVNA even though it does not.

Indirect Investment Risk. CVNA is not affiliated with the Trust, the Fund, or the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares.

Trading Risk. The trading price of the Fund may be subject to volatility and could experience wide fluctuations due to various factors. Short sellers may also play a significant role in trading CVNA, potentially affecting the supply and demand dynamics and contributing to market price volatility. Public perception and external factors beyond the company’s control may influence CVNA’s stock price disproportionately.

Performance Risk. CVNA may fail to meet publicly announced guidelines or other expectations about its business, which could cause the price of CVNA to decline.

Automotive Industry Risk. The automotive retail industry is subject to significant risks that can impact both profitability and competitiveness. The industry is highly dependent on consumer demand, which can be influenced by various factors such as economic conditions, consumer confidence, fuel prices, and preferences for particular vehicle types.

Additional Risks:

Compounding and Market Volatility Risk. The Fund has a daily leveraged investment objective and the Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is very likely to differ from two times (200%) the Underlying Security’s performance, before the Fund’s management fee and other expenses.

Leverage Risk. The Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage. An investment in the Fund is exposed to the risk that a decline in the daily performance of the Underlying Security will be magnified.

Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risks related to the market, leverage, imperfect daily correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions.

Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in derivatives which exposes the Fund to the risk that the counterparty will not fulfill its obligation to the Fund.

Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed-income securities owned by the Fund.

Liquidity Risk. Some securities held by the Fund may be difficult to sell or be illiquid, particularly during times of market turmoil. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation, or regulatory changes inside or outside the United States.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Diversification does not ensure a profit nor protect against loss in a declining market. Brokerage Commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC

Contact Information
David Hanono
info@defianceetfs.com
833.333.9383

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f9cbde05-7266-4bc8-9d94-24ec43e4a822

The MIL Network –

May 29, 2025
MIL-OSI: Heron Power Raises $38M Series A to Accelerate an All-Electric Future

Source: GlobeNewswire (MIL-OSI)

Today’s electricity infrastructure can’t meet surging energy demand, holding back the electric economy and driving energy bills higher

Founded by longtime Tesla SVP and backed by leading VCs, Heron Power is developing cheaper, faster and smarter hardware solutions for renewable energy and data centers to connect to the grid

SCOTTS VALLEY, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Heron Power, an energy infrastructure company, today announced that it raised $38 million in Series A funding led by Capricorn Investment Group’s Technology Impact Fund, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn. The round brings the total funding raised by Heron Power to $43 million. The company is developing industrial power electronics purpose-built for the 21st-century grid, helping the electricity sector to grow faster with scalable, reliable and software-integrated infrastructure. Heron Power will use the new funding to expand its team and complete engineering of the Heron Link, a solid-state transformer solution displacing legacy transformers and power converters.

Over the last decade, technologies like solar, batteries, and data centers have scaled faster than anyone imagined—growing from a few gigawatts in 2014 to more than 500 GW in 2024, equivalent to roughly two-thirds of the U.S. peak demand. But while energy technologies have leapt forward, the equipment connecting them to the grid hasn’t changed in a century.

Today’s outdated medium-voltage transformers (MVTs) are massive, built with 10 tons of grain-oriented electrical steel and copper submerged in oil, and designed for a one-way, analog grid. They offer no real-time control, can’t regulate voltage or frequency, and can’t adapt to dynamic grid conditions. Now, as energy demand surges, transformers have become a critical bottleneck: lead times stretch up to 24 months, U.S. manufacturing meets less than 20% of demand, and prices have spiked 60-80% since 2020.

“We’re at an inflection point where clean, abundant energy is ready to come online—but grid interconnection challenges hold us back,” said Drew Baglino, Founder and CEO of Heron Power. “Heron Power aims to bridge that gap. With electrification on a path to triple electricity demand and AI’s exponential need for power, we’re moving fast on the opportunity to modernize the grid with more capable hardware.”

Heron Power’s first product, the Heron Link, deletes the legacy transformer and connects directly to medium voltage. It is a modular megawatt-scale power converter built on the latest advances in wide-bandgap semiconductors. Designed for high power density and ease of maintenance, it offers greater reliability and lower costs for renewable, energy storage, and data center developers. With integrated voltage and frequency regulation, Heron Link also enhances grid stability—helping to prevent cascading outages like the one in Spain in early 2025.

Heron Power has partnerships with major energy and datacenter developers. The company is targeting an internal pilot in 2026, partner installations in early 2027, and plans to manufacture Heron Link in the US. The team brings deep technical expertise, having collectively designed and deployed over 80 gigawatts of grid-connected power electronics over the past decade.

“Power electronics innovation brings the power of ‘Moore’s law’ to energy,” said Dipender Saluja, co-managing partner of Capricorn’s Technology Impact fund. “For two decades, we’ve sought out and invested in transportation, aviation, electronics, materials and energy companies with innovative power electronics at the core of their products. Heron Power’s team is singularly impressive: they have the technical depth, execution experience, and clarity of intention to reinvent utility-scale power electronics.”

About Heron Power

Heron Power Electronics Company is developing industrial power electronics purpose-built for the 21st-century grid, helping the electricity sector to grow faster with scalable, reliable and software-integrated infrastructure. Its modular solid state transformer technology enables renewable energy, storage, and datacenter developers to directly connect to medium voltage transmission without the use of a transformer. Led by founder and CEO Drew Baglino, the Scotts Valley, CA-based company combines expertise in power electronics, software, and high-volume manufacturing. For more information, visit www.heronpower.com.

Media Contact

press@heronpower.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ce02aff-c8e9-47f7-a919-f99d440e7ea2

The MIL Network –

May 29, 2025
MIL-OSI: Yuanbao Inc. to Announce First Quarter 2025 Financial Results on Thursday, June 5, 2025

Source: GlobeNewswire (MIL-OSI)

BEIJING, May 29, 2025 (GLOBE NEWSWIRE) — Yuanbao Inc. (“Yuanbao” or the “Company”) (NASDAQ: YB), a leading technology-driven online insurance distributor in China, today announced that it will release its first quarter 2025 unaudited financial results on Thursday, June 5, 2025, before the open of the U.S. markets.

The Company’s management will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time on June 5, 2025 or 8:00 P.M. Beijing Time to discuss the financial results.

Participants should complete online registration using the link provided below at least 15 minutes before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

Participant Online Registration:
https://register-conf.media-server.com/register/BIa888df307303472fb71951c383b5a7ba

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at ir.yb-inc.com.

About Yuanbao Inc.

Yuanbao Inc. is a leading technology-driven online insurance distributor in China, committed to protecting health and well-being through innovative technology. Leveraging its proprietary consumer service cycle engine and advanced technologies, Yuanbao delivers customized insurance solutions from its partnered insurance carriers to over ten million insurance consumers throughout the entire insurance lifecycle, ranging from personalized recommendations to post-sales services. Through deep collaboration with insurance carriers and the use of data-driven insights, Yuanbao empowers carriers to tailor flagship products, enhances consumer engagement, and drives scalable and efficient distribution.

For more information, please visit ir.yb-inc.com.

For investor and media inquiries, please contact:

In China:

Yuanbao Inc.
E-mail: ir@yb-inc.com

Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: yb@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: yb@thepiacentegroup.com

The MIL Network –

May 29, 2025
MIL-OSI: Himax Subsidiary Liqxtal Technology Pro-Eye Vision Care Display Makes its Medical Taiwan 2025 Debut

Source: GlobeNewswire (MIL-OSI)

TAINAN, Taiwan, May 29, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, and Liqxtal Technology Inc. (“Liqxtal”), a subsidiary of Himax dedicated to developing various liquid crystal optical components with exceptional design expertise, today jointly unveiled the industry’s first patented vision care display — the Liqxtal® Pro-Eye will be showcased at Medical Taiwan 2025, the premier medical and healthcare technology exhibition in the Asia-Pacific region taking place June 5 – 7 at the Taipei Nangang Exhibition Center, Hall 2. Liqxtal® Pro-Eye has already been deployed in multiple engineering projects with leading industry partners targeting applications addressing age-related presbyopia and slowing the progression of myopia for school-aged children, as well as eye comfort during extended viewing times. Alongside the Pro-Eye display, several other products will also be on display that integrate cutting-edge imaging and liquid crystal-based smart optical technologies.

Liqxtal® Pro-Eye employs patented electrically tunable liquid crystal technology to break beyond the typical 20 to 24-inch viewing distance of conventional computer monitors, projecting a virtual image roughly 16 feet away. This effectively relieves ciliary muscle fatigue, dramatically alleviating eye strain and creating a comfortable, low-effort virtual viewing distance, redefining the interactive experience of personalized displays. Liqxtal’s patented technology is especially suited for seniors and school-age children. It not only eases near-vision strain and eye dryness for individuals with presbyopia but also reduces the risk of axial elongation in children from prolonged close-range reading, thereby helping to delay myopia progression and support vision health.

Liqxtal^® Pro-Eye – Cutting-Edge Patented Vision Care Display

Dr. Hung Shan Chen, President of Liqxtal, will give a speech entitled “Presbyopia Savior! The Most Comfortable Vision-Care Display for Seniors,” on June 7 at 1:30 p.m. at the main stage where he will dive into the core technologies behind the Liqxtal® Pro-Eye and its revolutionary application scenarios.

Liqxtal will also showcase a range of other products that combine innovative imaging and smart optical technologies. Among them is the Liqxtal® Dim adaptive lens, which integrates Liqxtal’s exclusive pixelated light valve control with Himax’s WiseEye ultralow power AI sensing technology. Liqxtal® Dim can detect ambient light in real time and adaptively adjust light tuning, making it ideal for smart sunglasses and vision training devices, significantly improving user comfort in both bright sunlight and dim indoor conditions.

“Liqxtal has been relentlessly advancing liquid crystal-based optical technologies and expanding applications particularly in display and wearable applications. The Pro-Eye display showcased at Medical Taiwan is a prime example,” said Dr. Hung Shan Chen, President of Liqxtal. “With our patented electrically tunable liquid crystal technology, Pro-Eye significantly alleviates the fatigue and dryness associated with extended viewing, delivering unprecedented comfort and visual clarity. Whether for seniors, schoolchildren, or anyone who spends long hours in front of a screen, this truly is a tangible innovation in visual wellness for our digital age.”

Himax and Liqxtal warmly invite all interested media and professionals to visit Booth P0430 in the “Digital Health Pavilion” first floor of Hall 2 at the Taipei Nangang Exhibition Center. Come experience the Liqxtal® Pro-Eye display and other cutting-edge technologies firsthand and see how liquid crystal-based optics is transforming health-focused display applications.

About Liqxtal Technology Inc.

Liqxtal Technology Inc. is a Taiwan based company that has been focused on exploring opportunities with liquid crystal (“LC”) beyond just displays since the company’s inception. With a distinguished track record in liquid crystal optics, Liqxtal has developed liquid crystal based optical components such as LC lens for ophthalmic application, LC diffuser for 3D sensing and LC retarder for light sensing. Additionally, Liqxtal designed and released LQ001, a high voltage & tunable frequency LC driver with a 1mm x 2mm footprint, which is particularly ideal for portable products. As a subsidiary of Himax Technologies, Liqxtal also integrates novel display solutions such as tunable backlight with local dimming capability powered by FPGA for niche applications. Lastly, Liqxtal is dedicated to novel vision eyewear technology and strives to innovate and advance useful optical solutions to the world.

About Himax Technologies, Inc.

Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye^TM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

http://www.himax.com.tw

Forward Looking Statements

Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

Liqxtal Contact:
Henry Hung, Deputy Director of Market & Sales Division
Liqxtal Technology Inc.
Tel: +886-6-505-0880
Email: info@liqxtal.com

Himax Contacts:
Karen Tiao, Head of IR/PR
Himax Technologies, Inc.
Tel: +886-2-2370-3999
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Mark Schwalenberg, Director
Investor Relations – US Representative
MZ North America
Tel: +1-312-261-6430
Email: HIMX@mzgroup.us
www.mzgroup.us

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a129e586-9c5f-4f5f-998a-e831ea57972e

The MIL Network –

May 29, 2025
MIL-OSI: XenDex Presale Extension: $XDX Token Still Selling As The Project Team Reveals Investors’ Request For Presale Extension
Source: GlobeNewswire (MIL-OSI)

SYDNEY, May 29, 2025 (GLOBE NEWSWIRE) — In a dramatic turn of events, XenDex has announced a short extension to its presale following overwhelming requests from late investors. With less than 7% of the $XDX allocation remaining and growing demand, this short extension gives stragglers one last chance to secure tokens before listings go live. The timing is impeccable considering Ripple’s acquisition of Circle and Volatility Shares’ launch of the XRPI Futures ETF have intensified institutional interest in XRP, setting a bullish tone across the ecosystem.

Buy $XDX Before Listing On Exchanges Soon

As major buyers scramble to grab the last batch of tokens, the team has confirmed that the presale will not be extended again. $XDX is in discussion to be listed on Binance, BitMart, Gate.io, MagneticX, and FirstLedger, and investors who delay now risk buying at significantly higher post-launch prices.

What is XenDex on XRP Blockchain?

XenDex is the first all-in-one decentralized exchange (DEX) built entirely on the XRP Ledger. Designed for speed, security, and scalability, XenDex merges advanced DeFi tools into a clean, user-friendly interface.

Purchase XDX And Earn Rewards

Features and Problems XenDex Aims to Solve on XRPL

XenDex brings long-awaited DeFi functionality to XRP, including:
- AI Copy Trading – Auto-mirror expert traders and minimize loss
- Lending & Borrowing – Lend or borrow crypto without intermediaries
- Cross-Chain Trading – Swap XRP across other blockchain on Solana, Ethereum, BNB, etc.
- DAO Governance – Token holders vote on upgrades via $XDX
Why Should I Buy $XDX?

Holding $XDX gives users:
- rewards through Staking and liquidity provision
- Platform fee discounts
- Early access to features, airdrops, and listings
- Voting power on future platform decisions and upgrades
Where Can I Trade $XDX?

After the presale, $XDX is expected to be available for trading on major exchanges, with active discussions currently underway with Binance, Gate.io, MEXC, BitMart, MagneticX, and FirstLedger

Purchase $XDX At Its Cheapest Price Before Going Public

Is XenDex a Legit Project on XRP?

Yes. Developed by blockchain veterans with roots in Cardano and SUI, XenDex is undergoing full smart contract audits and integrates with Xaman, XRP Toolkit, and Github.

How Do I Buy $XDX?

Visit: https://xendex.net/presale
Rate: 1.25 XRP = 10 XDX
Minimum Buy: 150 XRP
Detailed Guide On How To Buy $XDX: https://xdxdocs.gitbook.io

XenDex Presale Details
- Soft Cap: Reached
- Hard Cap: 93% SoldTime Left: 72-Hour Grace Period Only
- Presale Rate: 150 XRP = 1200 $XDX
Buy XDX At A Discount Before Pumping Upon Listing on Exchanges: https://xendex.net/presale

Join XenDex Community Below

Website: https://xendex.net
Presale: https://xendex.net/presale
Telegram: https://t.me/xendexcommunity
Twitter/X: https://x.com/xendex_xrp
Docs: https://xdxdocs.gitbook.io

Contact:
Frank Richards
Frank@xendex.net

Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.
Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90def1a0-c55a-45eb-868a-c8c3060f6431

The MIL Network –
May 29, 2025
MIL-OSI: SPEC Releases New SPECapc for SNX 2024 Benchmark
Source: GlobeNewswire (MIL-OSI)

GAINESVILLE, Va., May 29, 2025 (GLOBE NEWSWIRE) — The Standard Performance Evaluation Corporation (SPEC), the trusted global leader in computing benchmarks, today announced the availability of an all-new SPECapc for SNX 2024 benchmark, providing a completely new take on measuring Siemens NX CAD and CAM software performance. Siemens NX is award-winning, processor-intensive software that helps designers and manufacturers deliver better products faster through a powerful combination of CAD and CAM solutions. The new benchmark runs on the continuous release version of Siemens NX, which will enable SPEC to update the benchmark more frequently.*

The SPECapc for SNX 2024 benchmark executes graphics tests that include rotation, pan, zoom and clipping for each model. Viewport tests within the benchmark measure performance for field of view and feature regeneration operations. Anti-aliasing can be enabled or disabled to allow users to assess performance differences between the two modes. With the SPECapc for SNX 2024 benchmark, the range of application users, including professionals, students, and artists, as well as hardware developers and vendors, can discover how different hardware configurations affect the performance of the application.

“SPEC is committed to providing the Siemens NX user and development communities with a fair and reliable benchmark for Siemens NX, and we are grateful for the opportunity to work with Siemens to make this happen,” said SPECapc Chair Jessica Heerboth. “We rigorously developed this benchmark according to our principles for creating a good benchmark, which include it being vendor agnostic, unbiased, use-case-dependent, scalable, extensible and more. These characteristics ensure the most accurate performance measurements, enabling the best possible decisions when making hardware purchases to run this processor-intensive design software.”

Key features of the SPECapc for SNX 2024 benchmark
- Exporting models to different file formats – This test measures exports to STEP and IGES, the most frequently used file formats.
- Closest point calculations – This test measures a picked point in space for every surface / edge on a model and calculates which point on the model is closest.
- Mass property calculations – For every solid body in the model, this test calculates the vector of mass / inertia / movement, etc. The test calculates forces in physical simulations: volume, mass, center of mass, moments, moments of inertia, spherical moments of inertia, radii of gyration, etc.
- Model loading – This test measures the basic app function of opening and loading a model.
- Display mode – This test iterates through multiple modes.
- Cross section – This test cuts a model in half and rotates it around, providing a detailed look at the inside of a model – all the parts and details and how they fit together.
- Explosion – This test explodes out to show an inner view of a model. It is similar to the cross section test but provides a view of each part individually without the detail of how they fit together.
- Sync views – This test provides two different views of the model and rotates them in a synchronized fashion, providing a view of how things fit and potentially fuse together from different angles.
- Multiple viewports – This test provides six different views of a model from different perspectives. It continuously shows the model from all angles to increase awareness of how changes affect the model.
Available for Immediate Download
The SPECapc for SNX 2024 benchmark is available for immediate download from SPEC under a two-tiered pricing structure: free for the user community and $2,500 for sellers of computer-related products and services. SPEC/GWPG members receive benchmark licenses as a membership benefit.

About SPEC
SPEC is a non-profit organization that establishes, maintains and endorses standardized benchmarks and tools to evaluate performance for the newest generation of computing systems. Its membership comprises more than 120 leading computer hardware and software vendors, educational institutions, research organizations, and government agencies worldwide.

*Please note: The SPECapc for SNX 2024 benchmark can run on the latest continuous release version of Siemens NX; however, since each new application build version can differ in terms of performance and output, please refer to the benchmark run rules for the exact Siemens NX build version officially supported.

Media contact:
Brigit Valencia
360.597.4516
brigit@compel-pr.com

Images available upon request.
SPEC® and SPECapc® are trademarks of the Standard Performance Evaluation Corporation. All other product and company names herein may be trademarks of their registered owners.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f0ac75e-fb34-4c2b-855a-c839ce7313c0

The MIL Network –
May 29, 2025

MIL-OSI: Futu Announces First Quarter 2025 Unaudited Financial Results

Source: GlobeNewswire (MIL-OSI)

HONG KONG, May 29, 2025 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Operational Highlights

Total number of funded accounts¹ increased 41.6% year-over-year to 2,673,119 as of March 31, 2025.
Total number of brokerage accounts² increased 30.0% year-over-year to 4,955,319 as of March 31, 2025.
Total number of users³ increased 16.8% year-over-year to 26.3 million as of March 31, 2025.
Total client assets increased 60.2% year-over-year to HK$829.8 billion as of March 31, 2025.
Daily average client assets were HK$790.4 billion in the first quarter of 2025, an increase of 64.7% from the same period in 2024.
Total trading volume in the first quarter of 2025 increased by 140.1% year-over-year to HK$3.22 trillion, in which trading volume for U.S. stocks was HK$2.25 trillion, and trading volume for Hong Kong stocks was HK$916.0 billion.
Margin financing and securities lending balance increased 33.7% year-over-year to HK$50.3 billion as of March 31, 2025.

First Quarter 2025 Financial Highlights

Total revenues increased 81.1% year-over-year to HK$4,694.6 million (US$603.4 million).
Total gross profit increased 85.9% year-over-year to HK$3,945.7 million (US$507.2 million).
Net income increased 107.0% year-over-year to HK$2,142.7 million (US$275.4 million).
Non-GAAP adjusted net income⁴ increased 97.7% year-over-year to HK$2,216.9 million (US$285.0 million).

Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We started 2025 on a strong note, adding approximately 262 thousand funded accounts in the first quarter, up 47.8% year-over-year and 21.9% quarter-over-quarter. Total funded accounts reached 2.7 million, representing a 41.6% increase year-over-year and a 10.9% increase quarter-over-quarter. Hong Kong remained the top contributor to new funded accounts, as our marketing initiatives effectively leveraged the Hong Kong market rally and IPO boom. We believe that brokers with leading brand equity, product experience and execution capabilities will gain outsized benefits from strong equity market performance. Malaysia posted the fastest sequential growth in new funded accounts among all seven markets. After a year of rapid market share gain in Malaysia, we think there is ample headroom for further growth and will continue to invest in our product and our brand. In Japan, new funded accounts enjoyed robust growth and reached a historic high, as we solidified our position as the go-to broker for U.S. stock trading. Funded account growth accelerated in the U.S. as we enhanced our offerings for active traders and our high-profile advertising campaigns boosted brand visibility. With one-third of our full-year target already achieved, we remain firmly on track to meet our guidance of 800 thousand net new funded accounts in 2025.”

“Total client assets reached HK$829.8 billion, up 60.2% year-over-year and 11.6% quarter-over-quarter, thanks to record net asset inflow. In Singapore, total client assets rose 11.4% quarter-over-quarter, sustaining its streak of double-digit sequential growth. Average client assets in Canada and Australia also logged five straight quarters of sequential increase. Margin financing and securities lending balance at quarter end remained largely stable at HK$50.3 billion, due to lower risk appetite in the second half of the quarter amid market pullback.”

“Total trading volume was HK$3.22 trillion, up 140.1% year-over-year and 11.4% quarter-over-quarter. U.S. stock trading volume grew 8.2% sequentially to HK$2.25 trillion, bolstered by clients’ bottom fishing of technology and semiconductor names. Hong Kong stock trading volume increased 21.4% quarter-over-quarter to HK$916.0 billion, as DeepSeek-induced market rally reignited investor interest.”

“We continued to drive product innovation, empowering retail investors with cutting-edge investment tools and seamless investment experience. In Hong Kong, we unveiled Futubull AI, our proprietarily trained, AI-powered investment assistance, and revealed a new desktop version with more intuitive tools and advanced features. In Japan, we continued to enhance our U.S. stock offerings as we rolled out U.S. fractional shares trading in the first quarter and subsequently launched U.S. options trading in April.”

“Wealth management client assets were HK$139.2 billion as of quarter end, up 117.7% year-over-year and 25.6% quarter-over-quarter. 29% of funded accounts held wealth management products, a further climb from 28% in the previous quarter. Money market funds remained the primary driver of asset inflow given the seek for stable returns amid market volatility. In Hong Kong and Singapore, we broadened our structured product suite with FX-linked notes in the first quarter. We also onboarded equity funds in Malaysia and money market funds in Japan.”

“We had 498 IPO distribution and IR clients as of quarter end, up 15.8% year-over-year. During the quarter, we served as joint lead manager for several high-profile Hong Kong IPOs, including those of Bloks Group and Guming Holdings. For both of these transactions, we were the exclusive online broker for IPO distribution. Notably, in the MIXUE Group IPO, more than 70 thousand clients contributed to over HK$1 trillion in subscription amount, putting us first among all brokers in number of subscribers and total subscription amount.”

First Quarter 2025 Financial Results

Revenues

Total revenues were HK$4,694.6 million (US$603.4 million), an increase of 81.1% from HK$2,592.5 million in the first quarter of 2024.

Brokerage commission and handling charge income was HK$2,310.2 million (US$296.9 million), an increase of 113.5% from the first quarter of 2024. This was mainly due to higher trading volume, partially offset by the decline in blended commission rate.

Interest income was HK$2,070.5 million (US$266.1 million), an increase of 52.9% from the first quarter of 2024. The increase was mainly driven by higher interest income from securities borrowing and lending business, margin financing and bank deposits.

Other income was HK$313.9 million (US$40.4 million), an increase of 101.0% from the first quarter of 2024. The increase was primarily attributable to higher fund distribution service income and currency exchange income.

Costs

Total costs were HK$749.0 million (US$96.3 million), an increase of 59.3% from HK$470.2 million in the first quarter of 2024.

Brokerage commission and handling charge expenses were HK$143.5 million (US$18.4 million), an increase of 138.0% from the first quarter of 2024. This increase was roughly in line with the growth of our brokerage commission and handling charge income.

Interest expenses were HK$469.3 million (US$60.3 million), an increase of 50.0% from the first quarter of 2024. The increase was primarily due to higher expenses associated with our securities borrowing and lending business and higher margin financing interest expenses.

Processing and servicing costs were HK$136.1 million (US$17.5 million), an increase of 40.2% from the first quarter of 2024. The increase was primarily due to higher market information and data fee for enhanced market data coverage.

Gross Profit

Total gross profit was HK$3,945.7 million (US$507.2 million), an increase of 85.9% from HK$2,122.2 million in the first quarter of 2024. Gross margin was 84.0%, as compared to 81.9% in the first quarter of 2024.

Operating Expenses

Total operating expenses were HK$1,260.4 million (US$162.0 million), an increase of 35.6% from HK$929.5 million in the first quarter of 2024.

Research and development expenses were HK$386.0 million (US$49.6 million), an increase of 15.1% from the first quarter of 2024. This increase was primarily driven by investment in AI capabilities and related technology initiatives.

Selling and marketing expenses were HK$459.2 million (US$59.0 million), an increase of 56.9% from HK$292.7 million in the first quarter of 2024. This was mainly driven by strong growth of new funded accounts.

General and administrative expenses were HK$415.2 million (US$53.4 million), an increase of 37.8% from the first quarter of 2024. The increase was primarily due to an increase in general and administrative personnel to support overseas market development.

Income from Operations

Income from operations increased by 125.1% to HK$2,685.3 million (US$345.2 million) from HK$1,192.7 million in the first quarter of 2024. Operating margin increased to 57.2% from 46.0% in the first quarter of 2024 mainly due to strong topline growth and operating leverage.

Net Income

Net income increased by 107.0% to HK$2,142.7 million (US$275.4 million) from HK$1,035.1 million in the first quarter of 2024. Net income margin for the first quarter of 2025 increased to 45.6% from 39.9% in the year-ago quarter.

Non-GAAP adjusted net income increased by 97.7% to HK$2,216.9 million (US$285.0 million) from the first quarter of 2024. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see “Use of Non-GAAP Financial Measures” at the bottom of this press release.

Net Income per ADS

Basic net income per American Depositary Share (“ADS”) was HK$15.44 (US$1.98), compared with HK$7.53 in the first quarter of 2024. Diluted net income per ADS was HK$15.28 (US$1.96), compared with HK$7.46 in the first quarter of 2024. Each ADS represents eight Class A ordinary shares.

Conference Call and Webcast

Futu’s management will hold an earnings conference call on Thursday, May 29, 2025, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

Please note that all participants will need to pre-register for the conference call, using the link

https://register-conf.media-server.com/register/BIb0180ca92acc4f49b995ccdec654eeb4.

It will automatically lead to the registration page of “Futu Holdings Ltd First Quarter 2025 Earnings Conference Call”, where details for RSVP are needed.

Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

About Futu Holdings Limited

Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company’s operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors’ assessment of its operating performance.

Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company’s operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance.

For more information on this non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of Non-GAAP and GAAP Results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7799 to US$1.00, the noon buying rate in effect on March 31, 2025 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu’s goal and strategies; Futu’s expansion plans; Futu’s future business development, financial condition and results of operations; Futu’s expectations regarding demand for, and market acceptance of, its credit products; Futu’s expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor inquiries, please contact:

Investor Relations
Futu Holdings Limited
ir@futuholdings.com

___________________________

¹ The number of funded accounts refers to the number of brokerage accounts with Futu that have a positive account balance. Multiple funded accounts by one client are counted as one funded account.
² Multiple brokerage accounts by one client are counted as one brokerage account.
³ The number of users refers to the number of user accounts registered with Futu.
⁴ Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except for share and per share data)
	As of December 31,	As of March 31,
	2024	2025	2025
	HK$	HK$	US$
ASSETS
Cash and cash equivalents	11,688,383	6,495,155	834,864
Cash held on behalf of clients	68,639,816	88,246,095	11,342,832
Restricted cash	1,121	7,857	1,010
Term deposit	4,990	5,240	674
Short-term investments	2,411,074	2,659,746	341,874
Securities purchased under agreements to resell	316,301	468,788	60,256
Loans and advances-current (net of allowance of HK$85,252 thousand and HK$133,380 thousand as of December 31, 2024 and March 31, 2025, respectively)	49,695,691	48,552,818	6,240,802
Receivables:
Clients	534,077	717,361	92,207
Brokers	17,224,387	17,913,085	2,302,483
Clearing organizations	3,277,063	8,189,215	1,052,612
Fund management companies and fund distributors	1,210,472	1,773,358	227,941
Interest	597,483	624,324	80,248
Amounts due from related parties	61,200	–	–
Prepaid assets	63,497	68,993	8,868
Other current assets	160,330	753,181	96,811
Total current assets	155,885,885	176,475,216	22,683,482

Operating lease right-of-use assets	253,212	390,760	50,227
Long-term investments	573,190	698,183	89,742
Loans and advances-non-current	18,805	18,843	2,422
Other non-current assets	2,025,841	3,055,412	392,730
Total non-current assets	2,871,048	4,163,198	535,121
Total assets	158,756,933	180,638,414	23,218,603

LIABILITIES
Amounts due to related parties	79,090		154,011		19,796
Payables:
Clients	72,379,135		95,452,151		12,269,072
Brokers	43,697,746		38,246,431		4,916,057
Clearing organizations	503,396		357,842		45,996
Fund management companies and fund distributors	507,076		1,509,340		194,005
Interest	86,964		69,180		8,892
Borrowings	5,702,259		9,897,658		1,272,209
Securities sold under agreements to repurchase	2,574,659		929,084		119,421
Lease liabilities-current	144,357		132,750		17,063
Accrued expenses and other current liabilities	4,936,805		3,316,253		426,259
Total current liabilities	130,611,487		150,064,700		19,288,770

Lease liabilities-non-current	132,924		275,538		35,418
Other non-current liabilities	8,061		8,058		1,035
Total non-current liabilities	140,985		283,596		36,453
Total liabilities	130,752,472		150,348,296		19,325,223


SHAREHOLDERS’ EQUITY
Class A ordinary shares	72		72		9
Class B ordinary shares	27		27		3
Additional paid-in capital	18,807,369		18,885,107		2,427,423
Treasury stock	(5,199,257	)	(5,199,257	)	(668,294	)
Accumulated other comprehensive loss	(249,916	)	(184,687	)	(23,739	)
Retained earnings	14,652,946		16,798,269		2,159,188
Total shareholders’ equity	28,011,241		30,299,531		3,894,590


Non-controlling interest	(6,780	)	(9,413	)	(1,210	)
Total equity	28,004,461		30,290,118		3,893,380
Total liabilities and equity	158,756,933		180,638,414		23,218,603

FUTU HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands, except for share and per share data)
	For the Three Months Ended
	March 31, 2024		March 31, 2025		March 31, 2025
	HK$		HK$		US$
Revenues
Brokerage commission and handling charge income	1,082,107		2,310,220		296,947
Interest income	1,354,166		2,070,469		266,131
Other income	156,186		313,948		40,354
Total revenues	2,592,459		4,694,637		603,432
Costs
Brokerage commission and handling charge expenses	(60,301	)	(143,505	)	(18,446	)
Interest expenses	(312,842	)	(469,333	)	(60,326	)
Processing and servicing costs	(97,103	)	(136,115	)	(17,496	)
Total costs	(470,246	)	(748,953	)	(96,268	)
Total gross profit	2,122,213		3,945,684		507,164

Operating expenses
Research and development expenses	(335,487	)	(385,979	)	(49,612	)
Selling and marketing expenses	(292,664	)	(459,202	)	(59,024	)
General and administrative expenses	(301,335	)	(415,245	)	(53,374	)
Total operating expenses	(929,486	)	(1,260,426	)	(162,010	)

Income from operations	1,192,727		2,685,258		345,154

Others, net	31,741		(20,598	)	(2,648	)

Income before income tax expense and share of loss from equity method investments	1,224,468		2,664,660		342,506

Income tax expense	(185,641	)	(490,959	)	(63,106	)
Share of loss from equity method investments	(3,694	)	(30,997	)	(3,984	)

Net income	1,035,133		2,142,704		275,416

Attributable to:
Ordinary shareholders of the Company	1,038,138		2,145,323		275,753
Non-controlling interest	(3,005	)	(2,619	)	(337	)
	1,035,133		2,142,704		275,416

Net income per share attributable to ordinary shareholders of the Company
Basic	0.94		1.93		0.25
Diluted	0.93		1.91		0.24

Net income per ADS
Basic	7.53		15.44		1.98
Diluted	7.46		15.28		1.96

Weighted average number of ordinary shares used in computing net income per share
Basic	1,102,929,775		1,113,426,758		1,113,426,758
Diluted	1,114,429,420		1,126,352,076		1,126,352,076

Net income	1,035,133		2,142,704		275,416
Other comprehensive (loss)/income, net of tax
Foreign currency translation adjustment	(29,441	)	65,215		8,382
Total comprehensive income	1,005,692		2,207,919		283,798

Attributable to:
Ordinary shareholders of the Company	1,008,732		2,210,552		284,136
Non-controlling interests	(3,040	)	(2,633	)	(338	)
	1,005,692		2,207,919		283,798

FUTU HOLDINGS LIMITED UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS (In thousands)
	For the Three Months Ended
	March 31, 2024	March 31, 2025	March 31, 2025
	HK$	HK$	US$

Net income	1,035,133	2,142,704	275,416
Add: Share-based compensation expenses	85,938	74,199	9,537
Adjusted net income	1,121,071	2,216,903	284,953

Non-GAAP to GAAP reconciling items have no income tax effect.

The MIL Network –

May 29, 2025

MIL-OSI: Aurora Mobile Limited Announces First Quarter 2025 Unaudited Financial Results

Source: GlobeNewswire (MIL-OSI)

SHENZHEN, China, May 29, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Financial Highlights

Revenues were RMB89.0 million (US$12.3 million), an increase of 38% year-over-year.
Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% year-over-year.
Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% year-over-year.
Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% year-over-year.
Net loss was RMB1.6 million (US$0.2 million), compared with a net loss of RMB2.6 million for the same quarter last year.
Net loss attributable to Aurora Mobile Limited’s shareholders was RMB2.6 million (US$0.4 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB2.4 million for the same quarter last year.
Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with a RMB1.3 million adjusted net loss for the same quarter last year.
Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand), compared with RMB0.2 million for the same quarter last year.

Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “We have had a great start to 2025. Our Q1’2025 performance and numbers are very impressive.

Firstly, our EngageLab business had a “Monster Quarter” where we closed out more than RMB63 million worth of contract value in just one quarter. This brings the total cumulative EngageLab contract value in excess of RMB110 million by March 31, 2025.
Secondly, the Group’s revenue this quarter reached RMB89.0 million, achieving a remarkable 38% growth year-over-year. EngageLab’s recognized revenue also grew by 127% year-over-year.
Thirdly, our Financial Risk Management business had its best quarter in history, recording the highest quarterly revenue of RMB22.2 million, revenue grew by 64% year-over-year.
Fourthly, gross profit grew strongly by 27% year-over-year, achieving the highest gross profit for the past 9 quarters. Gross margin has also improved 520 basis points quarter-over-quarter!
Fifthly, we recorded another Adjusted EBITDA profit in this quarter. This marks the 7th consecutive quarterly positive Adjusted EBITDA we have had.

With these numbers above, we are equally excited about 2025. This has no doubt set a great momentum for the rest of the 2025 ! The progress in our performance and our solid financial position enable us to invest more resources into the development of our enterprise AI agent platform and its global expansion.”

Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “In Q1’2025, our revenue grew by 38% year-over-year, gross profit grew by 27% whilst operating expenses grew by 14%. Overall, we are pleased to see how the operating expenses have been trending in view of the revenue and gross profit growth. This is a sustainable growth model on a long-term basis.”

First Quarter 2025 Financial Results

Revenues were RMB89.0 million (US$12.3 million), an increase of 38% from RMB64.5 million in the same quarter of last year, attributable to a 39% increase in revenue from Developer Services and a 35% increase in revenue from Vertical Applications. In particular, the revenues from Value-Added Services within Developer Services increased by 269% compared to the same quarter of last year.

Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% from RMB18.2 million in the same quarter of last year. The increase was mainly due to a RMB5.6 million increase in media cost, a RMB1.6 million increase in short messaging cost, and a RMB4.7 million increase in other direct costs related to revenue generation.

Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% from RMB46.4 million in the same quarter of last year.

Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% from RMB53.0 million in the same quarter of last year.

Research and development expenses were RMB24.6 million (US$3.4 million), an increase of 8% from RMB22.7 million in the same quarter of last year, mainly due to a RMB0.9 million increase in personnel costs and a RMB0.8 million increase in cloud cost.
Sales and marketing expenses were RMB23.3 million (US$3.2 million), an increase of 34% from RMB17.4 million in the same quarter of last year, mainly due to a RMB5.2 million increase in personnel costs.
General and administrative expenses were RMB12.7 million (US$1.7 million), a decrease of 2% from RMB12.9 million in the same quarter of last year, mainly due to a RMB0.6 million decrease in share-based compensation expenses.

Loss from operations was RMB1.5 million (US$0.2 million), compared with RMB5.1 million in the same quarter of last year.

Net Loss was RMB1.6 million (US$0.2 million), compared with RMB2.6 million in the same quarter of last year.

Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with RMB1.3 million in the same quarter of last year.

Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand) compared with RMB0.2 million for the same quarter of last year.

The cash and cash equivalents and restricted cash were RMB113.6 million (US$15.7 million) as of March 31, 2025 compared with RMB119.5 million as of December 31, 2024.

Business Outlook

For the second quarter of 2025, the Company expects the total revenue to be between RMB87.5 million and RMB90.5 million, representing year-over-year growth of approximately 10% to 14%.

The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

Update on Share Repurchase

As of March 31, 2025, the Company had repurchased a total of 295,179 ADS, of which 16,322 ADSs, or around US$170.5 thousand were repurchased during the first quarter in 2025.

Conference Call

The Company will host an earnings conference call on Thursday, May 29, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day).

All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

Participant Online Registration:
https://register-conf.media-server.com/register/BI47c63565ef284b3784a50da74dc4a38e

A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net (loss)/income and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net (loss)/income as net loss excluding share-based compensation. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax expenses/(benefits) and share-based compensation.

The Company believes that adjusted net (loss)/income and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

The Company believes that adjusted net (loss)/income and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net (loss)/income and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

About Aurora Mobile Limited

Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

For more information, please visit https://ir.jiguang.cn/.

For investor and media inquiries, please contact:

Aurora Mobile Limited

ir@jiguang.cn

Christensen

In China

Ms. Xiaoyan Su

Phone: +86-10-5900-1548

E-mail: Xiaoyan.Su@christensencomms.com

In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: linda.bergkamp@christensencomms.com

Footnote:

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.


AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)

	Three months ended
	March 31, 2024		December 31, 2024		March 31, 2025
	RMB		RMB		RMB		US$

Revenues	64,524		93,153		88,961		12,259
Cost of revenues	(18,152	)	(36,468	)	(30,117	)	(4,150	)
Gross profit	46,372		56,685		58,844		8,109
Operating expenses
Research and development	(22,681	)	(24,326	)	(24,607	)	(3,391	)
Sales and marketing	(17,391	)	(24,583	)	(23,303	)	(3,211	)
General and administrative	(12,932	)	(11,392	)	(12,676	)	(1,747	)
Total operating expenses	(53,004	)	(60,301	)	(60,586	)	(8,349	)
Other operating income	1,579		3,393		197		27
Loss from operations	(5,053	)	(223	)	(1,545	)	(213	)
Foreign exchange (loss)/gain, net	(23	)	(62	)	38		5
Interest income	2,187		288		236		33
Interest expenses	(6	)	(42	)	(39	)	(5	)
Other income/(loss)	15		(805	)	–		–
Gains from fair value change	23		45		38		5
Loss before income taxes	(2,857	)	(799	)	(1,272	)	(175	)
Income tax benefits/(expenses)	244		105		(336	)	(46	)
Net loss	(2,613	)	(694	)	(1,608	)	(221	)
Less: net (loss)/income attributable to noncontrolling interests	(214	)	372		944		130
Net loss attributable to Aurora Mobile Limited’s shareholders	(2,399	)	(1,066	)	(2,552	)	(351	)
Net loss per share, for Class A and Class B common shares:
Class A and B Common Shares – basic and diluted	(0.03	)	(0.01	)	(0.03	)	(0.00	)
Shares used in net loss per share computation:
Class A Common Shares – basic and diluted	62,687,345		63,200,100		63,254,710		63,254,710
Class B Common Shares – basic and diluted	17,000,189		17,000,189		17,000,189		17,000,189
Other comprehensive income/(loss)
Foreign currency translation adjustments	78		1,357		(82	)	(11	)
Total other comprehensive income/(loss), net of tax	78		1,357		(82	)	(11	)
Total comprehensive (loss)/income	(2,535	)	663		(1,690	)	(232	)
Less: comprehensive (loss)/income attributable to noncontrolling interests	(214	)	372		944		130
Comprehensive (loss)/income attributable to Aurora Mobile Limited’s shareholders	(2,321	)	291		(2,634	)	(362	)

AURORA MOBILE LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

	As of
	December 31, 2024		March 31, 2025
	RMB		RMB		US$
ASSETS
Current assets:
Cash and cash equivalents	119,171		113,267		15,609
Restricted cash	376		375		52
Accounts receivable	50,804		54,071		7,451
Prepayments and other current assets	14,264		17,354		2,391
Total current assets	184,615		185,067		25,503
Non-current assets:
Long-term investments	113,506		113,458		15,635
Property and equipment, net	4,573		4,331		597
Operating lease right-of-use assets	17,146		15,892		2,190
Intangible assets, net	13,767		12,788		1,762
Goodwill	37,785		37,785		5,207
Deferred tax assets	131		167		23
Other non-current assets	6,510		6,503		895
Total non-current assets	193,418		190,924		26,309
Total assets	378,033		375,991		51,812
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term loan	3,000		–		–
Accounts payable	32,691		34,114		4,701
Deferred revenue and customer deposits	147,111		156,929		21,625
Operating lease liabilities	4,461		4,152		572
Accrued liabilities and other current liabilities	74,370		66,407		9,151
Total current liabilities	261,633		261,602		36,049
Non-current liabilities:
Operating lease liabilities	13,376		12,292		1,694
Deferred tax liabilities	3,059		2,891		398
Other non-current liabilities	567		567		78
Total non-current liabilities	17,002		15,750		2,170
Total liabilities	278,635		277,352		38,219
Shareholders’ equity:
Common shares	50		51		7
Treasury shares	(1,674	)	(2,898	)	(399	)
Additional paid-in capital	1,045,221		1,047,375		144,332
Accumulated deficit	(995,715	)	(998,267	)	(137,565	)
Accumulated other comprehensive income	20,040		19,958		2,750
Total Aurora Mobile Limited’s shareholders’ equity	67,922		66,219		9,125
Noncontrolling interests	31,476		32,420		4,468
Total shareholders’ equity	99,398		98,639		13,593
Total liabilities and shareholders’ equity	378,033		375,991		51,812

AURORA MOBILE LIMITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

	Three months ended
	March 31, 2024		December 31, 2024		March 31, 2025
	RMB		RMB		RMB		US$
Reconciliation of Net Loss to Adjusted Net (Loss)/Income:
Net loss	(2,613	)	(694	)	(1,608	)	(221	)
Add:
Share-based compensation	1,268		795		407		56
Adjusted net (loss)/income	(1,345	)	101		(1,201	)	(165	)
Reconciliation of Net Loss to Adjusted EBITDA:
Net loss	(2,613	)	(694	)	(1,608	)	(221	)
Add:
Income tax (benefits)/expenses	(244	)	(105	)	336		46
Interest expenses	6		42		39		5
Depreciation of property and equipment	380		197		266		37
Amortization of intangible assets	1,369		1,052		1,019		140
EBITDA	(1,102	)	492		52		7
Add:
Share-based compensation	1,268		795		407		56
Adjusted EBITDA	166		1,287		459		63

AURORA MOBILE LIMITED

UNAUDITED SAAS BUSINESSES REVENUE

(Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))

Three months ended

March 31, 2024

December 31, 2024

March 31, 2025

RMB

US$

Developer Services

44,749

70,998

62,322

8,588

Subscription

42,351

54,687

53,467

7,368

Value-Added Services

2,398

16,311

8,855

1,220

Vertical Applications

19,775

22,155

26,639

3,671

Total Revenue

64,524

93,153

88,961

12,259

Gross Profits

46,372

56,685

58,844

8,109

Gross Margin

71.9%

60.9%

66.1%

The MIL Network –

May 29, 2025

MIL-OSI: Temenos Forward Awards celebrate banks leading the way in innovation

Source: GlobeNewswire (MIL-OSI)

GRAND-LANCY, Switzerland, May 29, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), a global leader in banking technology, today announced the winners of the Temenos Forward Awards 2025, which recognize the innovation of Temenos customers who are leading the way in the banking industry.

Jean-Pierre Brulard, Chief Executive Officer, Temenos, commented: “As banks adapt to changing customer demands and the opportunities and challenges of transformative technologies such as Generative AI, the Temenos community is shaping the future of finance. We are delighted to recognize the success of banks at the forefront of innovation with our Temenos Forward Awards. Congratulations to all our award winners. Together, we are leading banking forward.”

The following awards were selected by a judging panel comprised of Temenos executives, previous award winners, journalists and industry analysts.

Future-Ready Banking Award – Santander International

In 2024, Santander International became the first Temenos client to utilize lending on the Temenos SaaS Foundation Platform. Throughout the program it has transitioned to a near-zero customization SaaS architecture with integrations that enhance customer analysis and reporting, demonstrating Santander International’s commitment to agility and customer-centric solutions.

Customer Experience Excellence Award – PC Financial

Part of Loblaw Companies Limited, Canada’s leading food and pharmacy retailer, PC Financial offers a range of financial products designed to deliver on the company’s purpose – helping Canadians Live Life Well. The retailer went live on Temenos SaaS in just six months and has raised the bar in digital banking with the launch of an innovative new savings feature for the PC Money Account. PC Financial is seeing strong customer engagement with this feature and stands out with a unique customer experience strategy that seamlessly blends everyday banking products with retail offerings.

Fast Track Growth Award – STC Bank

STC Bank has emerged as a fintech leader in Saudi Arabia, transforming from STC Pay into STC Bank as a fully licensed digital bank. This evolution highlights its strategic investment in cutting-edge technologies and innovation to redefine banking services standards in the region. With Temenos Core, the bank has successfully launched a microservice and data-driven architecture and is expanding into innovative lending and digital deposit solutions, reinforcing its strategy of modular, data-driven offerings.

Digital Transformation Award – Credem

Credem, a prominent Italian bank, has emerged as a digital banking frontrunner through its deep commitment to innovation and client-centric experiences. Having launched several new mobile apps using Temenos Digital, the bank offers a seamless, consistent experience for Retail, SME, and Private Wealth clients. In 2024, Credem successfully launched a new Retail Online Banking (OLB) platform as well as a completely redesigned mobile banking interface, leading to a significantly enhanced user experience and a marked improvement in its AppStore ratings.

Ambassador Award – Jihyun Lee (Bank Julius Baer)

As Head of IT APAC and Global Core Banking at Bank Julius Baer, Jihyun has consistently demonstrated visionary leadership, driving transformative projects that redefine modern core banking systems. Her expertise in pioneering innovations such as fully automated CI/CD pipelines and real-time integration patterns has positioned her as a trusted strategic partner within the Temenos community. Jihyun’s commitment to excellence and her ability to foster collaborative relationships make her a true ambassador of Temenos’ values and a thought leader in the industry.

Additionally, the following clients were chosen for a People’s Choice Award for their successful deployment of an innovative solution. Voting was conducted by a jury, as well as peers on social media.

People’s Choice Award (Banking Innovation) – MIDBANK

Established in 1975, MIDBANK provides retail, corporate, and investment banking services across Egypt. The bank has modernized its core and digital banking operations with Temenos to enhance efficiency and customer experience. This has led to a 30% reduction in processing times for transactions, projected annual savings of 20% in operational costs due to improved automation and streamlined workflows, and 25% higher customer satisfaction scores within the first six months of its migration.

People’s Choice Award (Banking Innovation) – EQ Bank

EQ Bank is Canada’s first-born digital bank, showing Canadians how banking can – and should – be better. In collaboration with Temenos and Microsoft, EQ Bank developed the TDH-EQB Fabric environment – an innovative solution enabling near real-time data access within the Temenos Data Hub (TDH) environment. This initiative delivers significant benefits to both EQ Bank and Temenos by enhancing performance, optimizing operational efficiency, and enabling faster insights.

The MIL Network –

May 29, 2025
MIL-OSI: Mavenir Collaboration with Three UK and Red Hat Doubles Glasgow 5G Speeds in UK-First Open RAN Small Cells Roll-Out
Source: GlobeNewswire (MIL-OSI)
- Mavenir Open vRAN and O-RAN compliant small cells central to success of Three UK’s Glasgow City Centre roll-out – boosting coverage and capacity across a high-demand, dense urban environment
- Landmark trial demonstrates the benefit of deploying Open RAN small cells alongside existing macro networks to solve blackspot issues
GLASGOW, Scotland, May 29, 2025 (GLOBE NEWSWIRE) — Mavenir, the cloud-native network infrastructure provider, working in collaboration with operator Three UK and the world’s leading provider of open source solutions, Red Hat, has successfully demonstrated the performance benefits of 5G non-standalone O-RAN compliant small cells in Glasgow City Centre – doubling 5G speeds at peak times.

This milestone UK-first trial of Open RAN in a dense urban environment also marks the first live deployment of O-RAN compliant small cells working alongside legacy macro cells from traditional vendors in this environment – driving a significant reduction in traffic congestion by delivering high-quality coverage and additional capacity. During the initial phase of the trial, both 4G and 5G speeds doubled during the busiest times of the day, with Three UK’s 5G speeds reaching an impressive 520Mbps across the trial area. The capacity boost also cascaded into further performance and user experience improvements in surrounding sites.

Following the successful trial of 18 live sites in Glasgow City Centre, the project will now move into its final deployment phase, bringing the total number of Open RAN small cell sites to 34.

Mavenir’s roll-out of a small cell densification layer for Three UK is being delivered as part of the SCONDA (Small Cells O-RAN in Dense Areas) project – a key connectivity initiative backed by the UK government’s Department for Science, Innovation and Technology (DSIT). The project represents a significant step forward for Open RAN in the UK by trialing – for the first time – the integration of a full decentralized Open RAN architecture with existing traditional infrastructure into a high traffic, high footfall city setting.

Mavenir is delivering a full 4G and 5G O-RAN solution, including its OpenBeam small cell radios running on Red Hat OpenShift, the industry’s leading hybrid cloud application platform powered by Kubernetes. Mavenir 4G and 5G small cell radios are being deployed on lamp posts across Glasgow to offload macro traffic and enable automation of network performance within a challenging multi-vendor, multi-technology radio environment. Three UK is leveraging Red Hat OpenShift to build and deliver the Open vRAN network, integrated into the existing 4G core of Three UK, and operating alongside the operator’s traditional RAN.

Brandon Larson, SVP, Cloud and AI at Mavenir, said: “This network densification project proves that the Open RAN layer built by Mavenir can efficiently and effectively meet the needs of Three UK and its customers in one of the busiest cities in the UK. Our solution has delivered a 2x improvement in 5G speeds, a measurable uplift in capacity, and handover of customer traffic has been outstanding. This powerfully demonstrates that Open RAN can be fully integrated alongside traditional vendors – a breakthrough that will get the attention of radio network design teams around the world for the cost savings and flexibility it offers.”

Iain Milligan, Chief Network Officer at Three UK said: “Mavenir and Red Hat have been exceptional partners on this groundbreaking project – the UK’s first Open RAN trial to tackle the real-world complexity of a dense urban environment. We have pushed the boundaries and proven that the Open RAN approach is a hugely valuable addition to network design and deployment.”

He added: “Urban deployments bring a different level of technical and operational challenge compared to rural environments. We’ve had to navigate integration with legacy systems, security layers, and evolving software – all while delivering measurable improvements for customers. The trial results are encouraging and provide a strong foundation for further scaling and optimisation of Open RAN in cities.”

Honoré LaBourdette, Vice President, Global Telco Ecosystem at Red Hat, said: “Red Hat and Mavenir share a commitment to delivering optimized Open RAN solutions for service providers to achieve improved network performance and unlock the next generation of 5G use cases. We are pleased to collaborate with Mavenir to implement an integrated 5G Standalone Open RAN solution, powered by Red Hat OpenShift, to help Three UK deliver enhanced customer experiences and streamline operations for the city of Glasgow.”

With this latest deployment, Mavenir and Red Hat are continuing to offer carrier-grade telco cloud solutions to mobile network operators, leveraging a decade of well-established collaboration. Mavenir RAN workloads on Red Hat OpenShift offer an attractive value proposition for the mobile network operators.

Key benefits delivered by Mavenir using Red Hat OpenShift include:
- Full stack automation: Integration of Red Hat Advanced Cluster Management for Kubernetes with Mavenir’s Cloud-Native Automation provides full stack automation and streamlined day-1 and day-2 operational management.
- Pre-integrated and pre-tested reference architectures: Red Hat and Mavenir help minimize complexity and reduce time spent on integration by providing a common, pre-integrated reference architecture.
- Scalable design and faster time-to-market: Offering design flexibility to scale the architecture with Mavenir workloads on Red Hat OpenShift and leveraging additional tools for faster deployments.
- Comprehensive Security Capabilities: Mavenir’s Open RAN solution on Red Hat OpenShift provides mobile networks with core platform security controls, including admission controllers, container isolation via Security Context Constraints (SCCs), runtime protection using kernel-level security modules (seccomp, SELinux), role-based access controls (RBAC) and network segmentation through CNI/OVN. These capabilities align with industry practices, enabling operators to implement hardened configurations for compliance objectives.
Notes to editors

The SCONDA project is a partnership with Three UK, Mavenir, AWTG, Freshwave, PI Works, the 5G Scotland Centre and Accenture, with the support of Glasgow City Council and funding from the UK government’s Department for Science, Innovation and Technology (DSIT).

Three UK doubles Glasgow city centre speeds with UK-first Open RAN roll-out

About Three UK:

Hutchison 3G UK Limited, trading as Three UK, is a British telecommunications company based in Reading, England. It is an indirect, wholly owned subsidiary of CK Hutchison Holdings, a limited liability Cayman Islands company registered and listed in Hong Kong. Three is the fourth-largest mobile network operator in the United Kingdom, with about 10.9 million subscribers as of November 2024. For more information, please visit https://www.three.co.uk/

About Mavenir:

Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

Red Hat, the Red Hat logo and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

Mavenir PR Contact:
Emmanuela Spiteri
PR@mavenir.com

The MIL Network –
May 29, 2025
MIL-OSI: Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin Offerings on Spot Market

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, May 29, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Ripple USD (RLUSD) on its spot trading platform. RLUSD, an enterprise-grade USD-backed stablecoin issued by Ripple, enters the Bitget ecosystem at a time when demand for secure and compliant digital assets continues to rise, particularly among institutional participants and developers focused on enterprise-grade blockchain use cases.

As a stablecoin pegged 1:1 to the U.S. dollar, RLUSD is natively issued on both the XRP Ledger (XRPL) and Ethereum, leveraging the unique strengths of each blockchain. The asset is backed by a segregated reserve held in USD fiat and cash equivalents. Bitget’s decision to list RLUSD aligns with its strategy to support strong, high utility-driven assets across its growing spot market, which serves as a curated space for projects that advance blockchain adoption through real-world applications.

“We’re excited to partner with Ripple, a team that has consistently pushed forward the adoption of crypto,” said Gracy Chen, CEO of Bitget. “RLUSD stands out as one of the few stablecoins issued by a NYDFS-chartered limited purpose trust company, placing it in a uniquely clear regulatory framework. This is particularly important for institutions seeking transparency and compliance in today’s evolving digital asset landscape. Listing RLUSD also aligns with our 2025 strategy to expand institutional offerings and build a more robust, trusted ecosystem.”

The RLUSD listing on Bitget expanded access and offered a trusted trading venue for one of the industry’s most closely monitored digital assets.

Bitget continues to scale its listings to support the increasing demand of the crypto market. The integration of RLUSD responds to the ongoing wave of stablecoins gaining popularity as critical tools in decentralized finance (DeFi), gaming, and tokenized asset ecosystems.

With an extensive selection of over 900 crypto pairs and a commitment to broadening its offerings, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of RLUSD signals a strategic move to embrace regulated stablecoins’s becoming a gateway to trade innovative crypto projects.

To know more about RLUSD on Bitget please visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

About Ripple

Ripple is the leading provider of digital asset infrastructure for financial institutions and other enterprises—delivering simple, compliant, reliable software that unlocks efficiencies, reduces friction, and enhances innovation in global finance. Ripple’s solutions leverage the XRP Ledger and its native digital asset, XRP, which was purpose-built to enable fast, low-cost, highly scalable transactions across developer and financial use cases. With a proven track record of working with regulators and policymakers around the world, Ripple’s payments, custody and stablecoin solutions are pioneering the digital asset economy—building credibility and trust in enterprise blockchain. Together with customers, partners and the developer community, we are transforming the way the world creates, stores, manages and moves value.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cba8e14-64a1-4afa-b20e-1fb01bb7d4f6

The MIL Network –

May 29, 2025
MIL-OSI: Nokia brings Wi-Fi 7 to all with launch of Beacon 4 and 9 home devices
Source: GlobeNewswire (MIL-OSI)

Press Release
Nokia brings Wi-Fi 7 to all with launch of Beacon 4 and 9 home devices
- Nokia introduces new entry-level and mid-tier Beacons that can deliver speeds over 3x faster than Wi-Fi 6 devices.
- Nokia Beacons bring affordable Wi-Fi 7 to customers globally, providing multi-gigabit capacity needed to support future devices and services in the home.
- Nokia’s Beacon 4 and 9, powered by Corteca software, simplify device management and support enhanced services via applications available on the Corteca marketplace.
29 May 2025
Espoo, Finland – Today, Nokia launched two new Wi-Fi 7 gateways designed to deliver, reliable, ultra-fast broadband to every corner of the home. Nokia’s entry level Beacon 4 and mid-tier Beacon 9 offer gigabit speeds over Wi-Fi – essential for supporting the expanding demands of streaming, online gaming, video, smart home, and security applications in the home.

As XGS-PON and 25G PON services grow, Wi-Fi upgrades are essential to delivering multi-gigabit speeds into homes. Nokia’s new Beacon 4 and 9 are designed specifically for this purpose, allowing service providers to offer an affordable, best-in-class Wi-Fi 7 experience for the masses. Incorporating Wi-Fi 7’s full capabilities, the dual-band Beacon 4 gateway delivers 3.6Gbs speeds over Wi-Fi while the tri-band Beacon 9 gateway delivers blazingly fast 9.4Gbs speeds that help eliminate slowdowns and buffering issues. Both Beacons are powered by its Corteca software which allows operators to create and monetize better broadband experiences.

“As the connected home ecosystem grows increasingly complex, Wi-Fi 7 emerges not just as a technological upgrade, but as a strategic necessity. To unlock the full market potential of Wi-Fi 7, it is essential to accelerate its availability across a wider range of devices. Expanding access – while preserving opportunities for service providers to differentiate and monetize premium offerings – will be key to driving adoption at scale and delivering the elevated experience consumers expect.” said Alzbeta Fellenbaum, Practice Leader, Service Provider – Consumer at Omdia.

“Wi-Fi 7 is a pivotal new technology that will power the connected home of the future. Operators can now make Wi-Fi 7 a reality for customers, with two new affordable solutions that ensure multi-gigabit speeds are delivered to every corner of the home for the ultimate experience,” said Dirk Verhaegen, Head of Broadband Devices, Fixed Networks at Nokia.

The new gateways expand Nokia’s portfolio of Wi-Fi 7 devices which now include the Beacon 4, Beacon 9, Beacon 19 and Beacon 24 models, each designed to meet the varying demands of operators and end-users globally.

Multimedia, technical information and related news
Web Page: Nokia Wi-Fi
Web Page: Nokia Beacon 9
Web Page: Nokia Beacon 4

About Nokia
At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

Media inquiries
Nokia Press Office
Email: Press.Services@nokia.com

Follow us on social media
LinkedIn X Instagram Facebook YouTube

The MIL Network –
May 29, 2025
MIL-OSI: Lovart Launches The First Design Agent, Draws Global User Surge

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, May 29, 2025 (GLOBE NEWSWIRE) — Lovart, a San Francisco-based AI startup, has officially launched its autonomous design agent — a platform designed to automate the entire creative process, from concept to final deliverables.

Unlike traditional AI tools focused on single outputs, Lovart enables users to generate dozens of professional-grade assets simultaneously, spanning images, video, audio, and 3D. The system integrates multiple AI models, orchestrating hundreds of design steps automatically to produce layered, editable content ready for direct use.

From Concept to Production: A New Design Paradigm

Users input a single prompt, and Lovart delivers up to 40 outputs, including storyboards, branding kits, UI flows, and multimedia content. The platform features an infinite canvas with advanced editing tools familiar to designers, such as layers, masks, and text refinement. Export formats include PNG, SVG, video, and audio — ensuring outputs meet professional standards.

https://www.youtube.com/watch?v=KBeHmuRAJ7I&t=1s

Launch Reception and Market Response

Within the first 24 hours of its launch on X (formerly Twitter), a discussion thread about Lovart garnered over 5,000 posts, reflecting strong community engagement. The waitlist grew rapidly, surpassing 100,000 users across 70+ countries within five days.

Lovart’s Discord server has become a vibrant hub where users hold “Agent Battles,” competitions that pit the platform’s AI agents against complex creative briefs in real time.

Industry Context: The Rise of Vertical AI Agents

Industry analysts view Lovart as a prime example of the growing trend towards vertical AI agents — domain-specific AI systems designed to replace traditional workflows.

YC partner Jared Friedman characterizes these agents as “autonomous teammates” that extend beyond general-purpose AI, bringing specialized expertise to complex tasks.

Community and Creative Use Cases

Early adopters are using Lovart to produce full marketing campaigns, multimedia storyboards, and interactive design projects with minimal manual input. The platform’s seamless orchestration of multimodal AI models allows creatives to focus on ideas while the agent handles execution.

Access and Further Information

Lovart continues to onboard new users and expand its feature set. Interested professionals can learn more or join the waitlist via:

Lovart positions itself as a new standard in creative automation, offering professionals an autonomous agent capable of handling complex, multimodal design workflows from start to finish.

About Lovart

Lovart AI is a San Francisco-based technology company pioneering the world’s first Design Agent — an AI-native system that interprets creative intent, decomposes complex tasks, and coordinates leading multimodal models to deliver comprehensive outputs across image, video, and 3D formats. Co-founded by Haofan Wang, an AI researcher with training from Carnegie Mellon University, and supported by a global team of experts in AI systems and creative tooling, Lovart is transforming the creative landscape. Since launching in 2025, the platform has rapidly gained traction with over 100,000 users joining within just 5 days, fundamentally changing how modern creators and studios approach design workflows.

Media Contact

Organization: Resonate International lNC

Contact Person: Jane Huo

Email: aimeey@int.lovart.ai

Country: United States

City: San francisco

Website:https://www.lovart.ai/

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3c892497-f390-404c-9675-758657c5431e
https://www.globenewswire.com/NewsRoom/AttachmentNg/6481863c-d379-4206-8354-2c73aba65e10

The MIL Network –

May 29, 2025
MIL-OSI: NBPE – Transaction in Own Shares

Source: GlobeNewswire (MIL-OSI)

THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

St Peter Port, Guernsey 29 May 2025

NB Private Equity Partners (“NBPE” or the “Company”) today announces details of Class A Shares bought back pursuant to general authority granted by shareholders of the Company on 12 June 2024 and the share buy-back agreement with Jefferies International Limited.

Transaction on London Stock Exchange

Date of purchase of Shares 28 May 2025

Number of Shares purchased 1,586 Class A Shares

Highest price/lowest price paid £14.36 / £14.22

ISIN for the Shares GG00B1ZBD492

All Class A Shares bought back will be cancelled. Following the cancellation, the number of outstanding Class A Shares is 45,549,961‬. The Company also has 3,150,408 Class A shares held in treasury. For reporting purposes under the FCA’s Disclosure Guidance and Transparency Rules the market should use the figure of 45,549,961 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

For further information, please contact:

NBPE Investor Relations        +44 20 3214 9002
Luke Mason        NBPrivateMarketsIR@nb.com

Kaso Legg Communications        +44 (0)20 3882 6644

Charles Gorman        nbpe@kl-communications.com
Luke Dampier
Charlotte Francis

About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger Berman

Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $515 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of March 31, 2025.

This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

The MIL Network –

May 29, 2025
MIL-OSI: JuCoin Solves DeFi’s Accessibility Crisis with Breakthrough CeDeFi Solution
Source: GlobeNewswire (MIL-OSI)

Service-driven exchange JuCoin eliminates 65% user drop-off rate by removing wallet barriers and technical friction

SINGAPORE, May 29, 2025 (GLOBE NEWSWIRE) — JuCoin, the world’s first service-driven cryptocurrency exchange, has launched its revolutionary CeDeFi solution, empowering users to trade publicly available blockchain tokens directly through their exchange accounts without the traditional requirements of external wallets, seed phrase management, or blockchain technical knowledge.

This industry-leading innovation directly addresses crypto’s most significant adoption barrier: industry research reveals that 65% of users abandon decentralized applications after their first interaction due to overwhelming technical complexity and poor user experience design.

“The numbers tell the story, when nearly two-thirds of people try DeFi once and never return, we’re not dealing with a user problem, we’re dealing with a design problem,” stated Sammi Li, CEO of JuCoin. “We’ve eliminated the technical gatekeeping that has kept mainstream users locked out of blockchain innovation. Now, investing in emerging tokens is as simple as trading Bitcoin on any exchange.”

Democratizing Access to Blockchain Innovation

JuCoin’s CeDeFi solution delivers unprecedented accessibility through:
- Universal Blockchain Access: Direct trading of tokens from multiple networks without platform changes
- Centralized Portfolio Management: All blockchain assets visible and manageable through JuCoin’s interface
- One-Click Operations: Multi-step blockchain processes reduced to single actions
- Institutional-Level Security: JuCoin’s security infrastructure protecting all decentralized interactions
The solution breaks down the artificial barriers between centralized and decentralized finance, allowing users to explore the full spectrum of cryptocurrency innovation while maintaining the security, support, and familiarity of their trusted exchange platform.

Executing the Service-Driven Philosophy

This CeDeFi launch represents the culmination of JuCoin’s service-driven approach, which transforms exchanges from simple transaction processors into comprehensive financial service providers. Drawing from CEO Sammi Li’s expertise in luxury consumer experiences, JuCoin has consistently prioritized intuitive design and seamless functionality over technical showcasing.

“We don’t measure our success by how many features we can cram into a platform, but by how effortlessly our users can achieve their financial goals,” Li noted. “Our CeDeFi solution embodies this principle. It’s the result of making sophisticated blockchain technology completely invisible to the user experience.”

The innovation strengthens JuCoin’s comprehensive ecosystem approach, integrating with JuChain blockchain infrastructure, JuChat social platform, and JuOne hardware solutions to create a unified Web3 experience that prioritizes accessibility without sacrificing security or functionality.

Immediate Availability and Growth Trajectory

JuCoin’s CeDeFi solution is fully operational and available to all platform users starting today. The launch includes complete integration with Solana blockchain tokens, with additional network support planned for systematic deployment to expand access to the broader decentralized asset universe.

Detailed user guides and educational content are available through the JuCoin platform to help users maximize the benefits of this groundbreaking technology.

About JuCoin

JuCoin has operated as a leading cryptocurrency exchange since 2013, evolving into the world’s first service-driven crypto platform serving over 12 million users globally across more than 30 countries. The company maintains an integrated digital ecosystem including JuChain (Layer 1 blockchain), JuOne (Web3 AI-encrypted smartphone), JuChat (Web3 super app), and JuCoin Labs (innovation hub), all unified through the JU token.

The company’s service-driven philosophy focuses on removing complexity from cryptocurrency interactions, making advanced blockchain capabilities accessible to all users regardless of technical expertise or background.

Contact:
Nicolas Tang
nicolas_t@jucoin.com

Disclaimer: This is a paid post and is provided by JuCoin. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9966f22e-9134-47fb-8c75-49cf846d7b51

The MIL Network –
May 29, 2025
MIL-OSI: ORGANON BIOTHERAPEUTICS SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Organon & Co. – OGN

Source: GlobeNewswire (MIL-OSI)

NEW ORLEANS, May 28, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 22, 2025 to file lead plaintiff applications in a securities class action lawsuit against Organon & Co. (NYSE: OGN), if they purchased the Company’s securities between October 31, 2024 and April 30, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.

Get Help

Organon investors should visit us at https://claimsfiler.com/cases/nyse-ogn/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Organon and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On March 10, 2025, pre-market, the Company announced its financial results for the first quarter of 2025, disclosing, among other things, that management had reset the Company’s dividend payout, from $0.28 to $0.02, contradicting its prior statements assuring investors that the regular quarterly dividend was a number one priority and that the Company was committed to its capital allocation strategy through the aforementioned dividend. On this news, the price of Organon’s shares fell more than 27%, from a closing market price of $12.93 per share on April 30, 2025, to $9.45 per share on May 1, 2025.

The case is Hauser V. Organon & Co., et al., No. 25-cv-05322.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

The MIL Network –

May 29, 2025
MIL-OSI: SEON Accelerates APAC Growth Amid Rising Demand for Unified Fraud and AML Solutions

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas and SINGAPORE, May 28, 2025 (GLOBE NEWSWIRE) — SEON, a global leader in digital fraud prevention and compliance, today announced rapid growth across the Asia-Pacific region, driven by increasing demand for its unified, real-time fraud and AML solutions.

New APAC clients such as Salmon Group Ltd, CryptoGaming.com and Forever Network have adopted SEON’s Know Your User (KYU) and Know Your Customer (KYC) capabilities to navigate escalating fraud risks across the region’s complex digital landscape.

To support this momentum, SEON has expanded its team with technical, sales and support specialists in Singapore and Jakarta, providing clients with localized expertise and faster response times.

“APAC presents both extraordinary opportunity and operational complexity,” said Tamas Kadar, Co-founder and CEO, SEON. “The mix of advanced digital economies and rapidly growing markets creates a fragmented risk environment, and legacy point solutions can’t keep pace. Our unified platform delivers real-time visibility and protection across the entire customer journey.”

As digital threats and regulatory requirements grow throughout the region, businesses face mounting pressure to verify identities, manage payment risk and maintain compliance, without compromising user experience. SEON addresses these challenges with an AI-driven platform that combines digital footprint analysis, device intelligence and real-time analytics to detect and prevent fraud proactively.

“SEON has quickly become one of the most effective and user-friendly fraud detection tools we’ve used to date. Its ability to provide real-time insights, coupled with detailed device tracking and risk scoring, has greatly improved how we identify and respond to suspicious activity,” said Pauline Liu, Compliance Officer, TitanFX. “The platform is user-friendly, making it easy for both new and experienced team members to navigate and act swiftly. SEON has already proven to be a smart and dependable solution for our fraud monitoring needs.”

“Our regional clients are increasingly prioritizing fraud prevention platforms that can handle APAC’s payment complexity and varied identity verification methods,” said Troy Nyi Nyi, Senior Vice President and GM, SEON. “The iGaming, fintech and retail sectors in particular are seeking solutions that can operate across multiple jurisdictions without requiring separate tools for each market, which is why they’re turning to SEON.”

SEON will showcase its latest innovations at SiGMA Asia, taking place June 2-4 in Manila (Booth 1082). During the event, Troy Nyi Nyi, Senior Vice President and GM, SEON, will speak on “Beyond Defense: Leveraging Fraud Prevention as a Competitive Edge,” sharing practical insights for iGaming and fintech leaders.

About SEON
SEON helps risk teams detect and stop fraud and money laundering while ensuring regulatory compliance. By combining real-time digital footprint analysis, device intelligence and AI-driven rules, SEON empowers over 5,000 businesses globally to prevent threats before they occur. With integrated fraud prevention and AML capabilities, SEON operates from Austin, London, Budapest and Singapore. Learn more at seon.io.

Media
Press@seon.io

The MIL Network –

May 29, 2025
MIL-OSI: Rumble praises Trump decision to restrict visas of foreign nationals who censor Americans

Source: GlobeNewswire (MIL-OSI)

LONGBOAT KEY, Fla., May 28, 2025 (GLOBE NEWSWIRE) — Rumble (NASDAQ:RUM), the video-sharing platform and cloud services provider, today praised President Trump and U.S. Secretary of State Marco Rubio for their announcement that they will restrict the visas of foreign officials or nationals who engage in the censorship of Americans. As a company, Rumble has experience in this area as it is currently suing Brazilian Supreme Court Justice Alexandre de Moraes, alleging that Moraes violated the free speech protections of the First Amendment when he ordered the suspension of the U.S.-based Rumble accounts of a specific well-known, politically outspoken user.

“Freedom of expression is an innate human right, so it is great to see that President Trump has the United States leading the way once again,” said Rumble CEO Chris Pavlovski. “As Rumble has experienced, these enemies of free speech from around the world try to reach into America and supersede the First Amendment. Secretary of State Rubio has made clear that America will stand for freedom of speech around the world and that is tremendous news.”

“This move by the Trump administration is a landmark defense of American digital sovereignty and the First Amendment,” said Martin De Luca and Matthew L. Schwartz, attorneys at Boies Schiller Flexner LLP. “Foreign officials like Moraes have spent years issuing sealed censorship orders against U.S. companies, targeting American executives and users of these platforms, and attempting to criminalize protected speech on U.S. soil. We commend President Trump and Secretary Rubio for taking a decisive step to uphold the Constitution and protect digital sovereignty.”

ABOUT RUMBLE

Rumble is a high-growth video platform and cloud services provider that is creating an independent infrastructure. Rumble’s mission is to restore the internet to its roots by making it free and open once again. For more information, visit: corp.rumble.com.

Contact: press@rumble.com.

###

The MIL Network –

May 29, 2025
MIL-OSI: ThoughtSpot Accelerates Expansion in Japan, Welcomes Leading Enterprises and Deepens Strategic Partnerships

Source: GlobeNewswire (MIL-OSI)

MOUNTAIN VIEW, Calif., May 28, 2025 (GLOBE NEWSWIRE) — ThoughtSpot, the Agentic Analytics Platform company, today announced significant momentum in the Japanese market, highlighted by the addition of new and existing customers from a variety of industries and the expansion of key strategic partnerships. Over the past year, ThoughtSpot has supported leading organizations across Japan turn to ThoughtSpot to drive AI-powered data-driven decision making and innovation.

With the rapid advancement of AI technologies and increased adoption across industries such as healthcare and automotive, Japan’s generative AI market has seen remarkable growth and is anticipated to reach USD 25.7 billion by 2033. This is reflected among ThoughtSpot’s new and expanding customers, who are in some of Japan’s most respected enterprises, including Toyota, Omron, Kyocera, Seiko Epson, Okumuragumi and JGC. These organizations are leveraging ThoughtSpot’s intuitive search and AI-driven analytics to empower business users, accelerate insights, and unlock new value from their data.

“We’ve built something truly special at ThoughtSpot, and our growth in Japan is a testament to the value we deliver for our customers. Japan represents a massive opportunity for innovation, and we remain committed to supporting customers in the region.” said Ketan Kharkanis, CEO at ThoughtSpot. “We’re proud to help some of the country’s most respected organizations unlock the full power of their data with the latest innovations in AI-driven analytics. As Japanese enterprises accelerate their digital transformation, ThoughtSpot is uniquely positioned to empower every user across all levels of the organization to make smarter, faster decisions. We’re excited to partner with industry leaders and continue investing in local talent, partnerships, and technology to drive the next wave of data-driven growth in Japan.”

ThoughtSpot’s growth in Japan is further fueled by its expanding ecosystem of strategic alliances. The company recently announced a partnership with global IT leader Panasonic Solution Technologies (PSTC), enabling joint customers to harness the power of ThoughtSpot’s agentic analytics platform offerings on Panasonic’s modern cloud data infrastructures, empowering organizations to democratize data usage and accelerate agile decision-making. Additionally, the ongoing collaborations with Kyocera Mirai Envision (KCME) and NTTData Kansai, Zeal among other partnerships continue to deliver integrated solutions that help Japanese businesses modernize their analytics infrastructure and accelerate digital transformation.

This rapid expansion is underpinned by ThoughtSpot’s commitment to local customer success, with dedicated teams supporting implementation, adoption, and ongoing innovation. The company’s investments in bilingual product capabilities and tailored support for Japanese enterprises have been instrumental in driving adoption and satisfaction among customers such as Toyota, who value ThoughtSpot’s ease of use, advanced AI features, and true self-service BI capabilities.

“Japan is a critical market for ThoughtSpot, and we are thrilled to see such strong adoption from industry leaders,” said Kazuyo Yamashita, Country General Manager, ThoughtSpot Japan. “Our team’s relentless focus on customer success and local innovation has enabled us to address unique market needs and deliver real business impact. We are grateful for the trust our customers have placed in us and look forward to deepening these partnerships.”

About ThoughtSpot

ThoughtSpot is the Agentic Analytics Platform that empowers every enterprise to transform insights into action. Our mission is to create a more fact-driven world by delivering a platform where anyone can effortlessly explore any data, ask any question, and uncover actionable insights faster—leading to growth, better business outcomes, and efficiency in their organizations. Agentic AI combined with ThoughtSpot’s intuitive natural language search, every user can confidently discover proactive insights from their business data creating real-time decisioning with impact. The platform’s unified capabilities, along with our agentic AI analyst, Spotter, ensures insights are connected and pervasive, enabling users to create precise, transparent, personalized, and actionable insights with enterprise grade trust, security, and scale. Accessible via the web and mobile app, ThoughtSpot ensures intelligent decision-making happens seamlessly, wherever and whenever needed. For organizations looking to drive value, ThoughtSpot Embedded provides a low-code solution to integrate AI-powered analytics directly into products and services that make every application an intelligent experience, driving data monetization and boosting user engagement for customers. Industry leaders like NVIDIA, Toyota, Hilton Worldwide, Capital One and Matillion rely on ThoughtSpot to transform how their employees and customers take advantage of data to create better business outcomes. Try ThoughtSpot today and experience the new era of analytics.

PR Contact:
Lindsay Noonan
Director of Communications, ThoughtSpot
press@thoughtspot.com

The MIL Network –

May 29, 2025
MIL-OSI: Jena Acquisition Corporation II Announces Pricing of $200 Million Initial Public Offering

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, May 28, 2025 (GLOBE NEWSWIRE) — Jena Acquisition Corporation II (“Jena II” or the “Company”) announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange (“NYSE”) and trade under the ticker symbol “JENA.U” beginning May 29, 2025. Each unit consists of one Class A ordinary share and one right entitling the holder thereof to receive one-twentieth of one Class A ordinary share upon the consummation of an initial business combination. The Class A ordinary shares and rights comprising the units are expected to begin separate trading no later than the 52^nd day following this date. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on the NYSE under the symbols “JENA” and “JENA.R,” respectively.

Santander is acting as sole book-running manager. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.

The offering was made by means of a prospectus. Copies of the prospectus may be obtained from Santander US Capital Markets LLC, 437 Madison Avenue, New York, NY 10022, Attention: ECM Syndicate, by email at equity-syndicate@santander.us, or by telephone at 833-818-1602.

A registration statement relating to the securities became effective on May 28, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is expected to close on May 30, 2025, subject to customary closing conditions.

About Jena Acquisition Corporation II

The Company is a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination in any business or industry, it intends to capitalize on the ability of its management team and initially focus its search on identifying a prospective target business that can benefit from its co-founder and Chairman William P. Foley, II’s and its co-founder and Chief Executive Officer Richard N. Massey’s historical areas of business expertise. W. Dabbs Cavin, Dexter Fowler and Tim Hsia will be serving as board members.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contact:

Richard N. Massey
CEO
jenaacquisition.com

The MIL Network –

May 29, 2025
MIL-OSI: Purpose Investments Inc. Announces May 2025 Distribution for Purpose Global Bond Fund – ETF Units

Source: GlobeNewswire (MIL-OSI)

TORONTO, May 28, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. is pleased to announce the May 2025 distribution rate for Purpose Global Bond Fund – ETF Units. The May 2025 distribution for Purpose Global Bond Fund – ETF Units will be paid in June 2025.

The following table reflects the final distribution amount for the May 2025 distribution for Purpose Global Bond Fund – ETF Units. Ex-distribution date for the May 2025 distribution is June 3, 2025.

Open-End Fund Ticker
Symbol Final distribution
per unit Record Date Payable Date Distribution
Frequency

Purpose Global Bond Fund – ETF Units BND $0.0840 06/03/2025 06/06/2025 Monthly

About Purpose Investments Inc.

Purpose Investments Inc. is an asset management company with more than $24 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

The MIL Network –

May 29, 2025
MIL-OSI: Clear Blue Technologies Announces Q1 2025 Financial Results
Source: GlobeNewswire (MIL-OSI)

TORONTO, May 28, 2025 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (TSXV: CBLU) (FRANKFURT: OYA), the Smart Off-Grid™ Company, announces its financial results for the first quarter of 2025 (“Q1 2024”) ending March 31, 2025. A complete set of Financial Statements and Management’s Discussion & Analysis (“MD&A”) has been filed at www.sedarplus.ca. All dollar amounts are denominated in Canadian dollars.

On a Trailing Four Quarter (“TFQ”) basis:
- As of March 31, 2025, bookings decreased to $4,365,698, a decrease of 14%, when compared to $5,071,105 as of December 31, 2024, with delivery anticipated over the next three years. Of this, $3,636,637 is expected to be recognized over the next 12 months.
- TFQ revenue was $3,001,003, a 50% decrease from $5,950,005 in the corresponding previous period.
- TFQ recurring revenue was $676,137 a 40% decrease from $1,120,838 in the corresponding previous period.
- TFQ Gross Profit decreased to $1,563,054 compared to $2,716,412 in the comparable period, an 42% decrease. However, the gross margin percentage increased to 52% from 46% with the comparative TFQ period of 2024.
- Non-IFRS Adjusted EBITDA for the period was ($2,634,592) as compared to ($1,629,513) for the previous period, a 62% decrease from the comparative period of 2024. This increase is mainly attributable to financing challenges which also impacted revenue in 2024 which have now been resolved.
- Cash as of March 31, 2025, was $128,971 and remained stable through Q1.
- As of December 31, 2024, the Company had approximately $1,800,000 remaining from its IRAP Green Fund contract. At this time, it expects to receive $1,300,000 of that amount by the end of Q2 2025.
For Q1 F2024:
- Q1 2025 revenue was $1,051,261, a 30% increase from $808,553 in Q1 2024.
- Recurring revenue comprised $217,662 of the quarter’s revenue compared to $300,786 in Q1 2024, a 28% decrease.
- Gross Profit for Q1 2025 was $551,601 compared to $338,339 for Q1 2024, a 63% increase, mainly due to higher revenue for the quarter. The Gross Margin percentage for the quarter was quite healthy at 52%, increasing from 42% from the comparative quarter of 2024.
Clear Blue 2.0 – A Strong Foundation for 2025

Looking forward, Clear Blue sees three key themes as critical to triggering high growth for the company:

Smart Solar Lighting Goes Mainstream

Clear Blue is powering the shift as smart solar lighting becomes the default for municipalities, power utilities, and Departments of Transportation (DoTs) seeking sustainable, intelligent lighting solutions. (Clear Blue Products: Illumient & Senti)

Road to Zero Diesel: Empowering Africa’s Telecom Transition

As telecom operators across Africa transition away from diesel, Clear Blue delivers high-performance solar power systems that ensure energy reliability and cost savings—supporting the continent’s clean energy future. (Clear Blue Products: Micro & Nano)

Enabling Satellite Internet & IoT Expansion

Satellite internet is now critical infrastructure. Through our partnership with Eutelsat, Clear Blue is enabling large-scale rollouts of satellite-powered community internet and IoT services across emerging markets—unlocking a projected $25M revenue opportunity over the next three years. (Clear Blue’s Product: Pico)

Having filled out Clear Blue’s portfolio with 3 new products over the last two years, and having successfully completed the financial restructuring, Clear Blue is building a strong growth trajectory around the above key vectors.

Said CEO of Clear Blue, Miriam Tuerk, “In the quarter, the company successfully completed that last component of its financial restructuring, a herculean effort which demanded the energy of the entire management team. Now it’s time to look forward, build a strong growth trajectory and deliver to our stakeholders the results that everyone believes this company can deliver.”

Clear Blue will host a conference call on Thursday May 29th, at 11:00 a.m. Eastern Time, to review the financial restructuring, the Company’s 2024 results, and to provide an update on its 2025 outlook and growth plan going forward. Those interested can register at:

Registration Link

https://us06web.zoom.us/webinar/register/WN_06KGLRU8Tf6oobFxiB1LtQ

For more information, contact:

Miriam Tuerk, Co-Founder and CEO
+1 416 433 3952
investors@clearbluetechnologies.com

www.clearbluetechnologies.com/en/investors

About Clear Blue Technologies International

Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)

Legal Disclaimer

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Forward-Looking Statement

This press release contains certain “forward-looking information” and/or “forward-looking statements” within the meaning of applicable securities laws. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Clear Blue’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Clear Blue’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning financial results and future upcoming contracts.

By identifying such information and statements in this manner, Clear Blue is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Clear Blue to be materially different from those expressed or implied by such information and statements.

An investment in securities of Clear Blue is speculative and subject to several risks including, without limitation, the risks discussed under the heading “Risk Factors” in Clear Blue’s listing application dated July 12, 2018. Although Clear Blue has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, Clear Blue has made certain assumptions. Although Clear Blue believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release. All subsequent written and oral forward- looking information and statements attributable to Clear Blue or persons acting on its behalf is expressly qualified in its entirety by this notice.”

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Legal Disclaimer

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Forward-Looking Statement

This press release contains certain “forward-looking information” and/or “forward-looking statements” within the meaning of applicable securities laws. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Clear Blue’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Clear Blue’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information concerning financial results and future upcoming contracts.

By identifying such information and statements in this manner, Clear Blue is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Clear Blue to be materially different from those expressed or implied by such information and statements.

An investment in securities of Clear Blue is speculative and subject to several risks including, without limitation, the risks discussed under the heading “Risk Factors” in Clear Blue’s listing application dated July 12, 2018. Although Clear Blue has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, Clear Blue has made certain assumptions. Although Clear Blue believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release. All subsequent written and oral forward- looking information and statements attributable to Clear Blue or persons acting on its behalf is expressly qualified in its entirety by this notice.”

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

The MIL Network –
May 29, 2025

MIL-OSI: Kneat Announces Results of Voting at Annual General Meeting

Source: GlobeNewswire (MIL-OSI)

LIMERICK, Ireland, May 28, 2025 (GLOBE NEWSWIRE) — kneat.com, inc. (TSX: KSI) (OTC: KSIOF) (“Kneat” or the “Company”) a leader in digitizing and automating validation processes, announced results from its Annual General Meeting of Shareholders (the “2025 AGM”), which took place today. All director nominees were elected to the board of directors (the “Kneat Board”) and KPMG LLP was appointed as auditors, as further described in the related Management Information Circular dated April 23, 2025 (the “Circular”).

The detailed results of voting at the 2025 AGM are set out below:

1. Election of Directors

Shareholders voted to elect all five directors nominated to the Kneat Board.

Name of Nominee	Number of Votes Cast	Votes “For”	Votes “For” %
Ian Ainsworth	48,954,620	47,616,238	97.27%
Edmund Ryan	48,954,620	48,954,095	100.00%
Wade K. Dawe	48,954,620	47,008,047	96.02%
Nutan Behki	48,954,620	47,644,301	97.32%
Carol Leaman	48,954,620	48,939,765	99.97%

2. Re-Appointment of Auditors

Shareholders voted to approve management’s recommendation that KPMG LLP be re-appointed as auditors of the Company, to hold office until the close of the next annual meeting of shareholders, and to authorize the Company to fix their remuneration for the forthcoming year.

Number of Votes Cast	Votes “For”	Votes “For” %
48,954,620	48,908,449	99.91%

Final voting results on all matters voted at the 2025 AGM have been filed with Canadian securities regulators.

About Kneat

Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end to end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard.

For further information:

Katie Keita, Kneat Investor Relations
P: + 1 902-706-9074
E: katie.keita@kneat.com

The MIL Network –

May 29, 2025

MIL-OSI: Houston American Energy Corp. Announces 1-for-10 Reverse Stock Split
Source: GlobeNewswire (MIL-OSI)

HOUSTON, TX, May 28, 2025 (GLOBE NEWSWIRE) — Houston American Energy Corp. (NYSE American: HUSA) (“HUSA” or the “Company”) announced today that its Board of Directors approved a reverse stock split of the Company’s common stock at a ratio of 1-for-10. The reverse stock split is intended to increase the market price per share of the Company’s common stock and help the Company satisfy the initial listing requirements of the New York Stock Exchange American (the “NYSE”) in connection with the closing of HUSA’s previously announced acquisition of Abundia Global Impact Group, LLC (“AGIG”).

On April 24, 2025, at the Company’s special meeting of stockholders, the Company’s stockholders approved a reverse stock split of the Company’s common stock at a ratio in the range of 1-for-5 to 1-for-60, with such ratio to be determined by the Company’s Board of Directors. The reverse stock split is expected to be effective after market close on June 6, 2025 (the “Effective Time”) and the Company’s common stock will begin trading on a split-adjusted basis on the NYSE at the market open on June 9, 2025.

At the Effective Time, every 10 issued and outstanding shares of the Company’s common stock will be converted into one share of the Company’s common stock. Once effective, the reverse stock split will reduce the number of issued and outstanding shares of common stock from approximately 15,686,533 to approximately 1,568,653 shares.

Each stockholder’s percentage ownership interest in the Company will remain unchanged as a result of the reverse stock split. No fractional shares shall be issued in connection with the reverse stock split, and any fractional shares resulting from the reverse stock split will be rounded up at the participant level with The Depository Trust Company. Each certificate that immediately prior to the Effective Time represented shares of common stock shall thereafter represent that number of shares of common stock into which the shares of common stock represented by the certificate shall have been combined, subject to the elimination of fractional share interests as described above. Holders of the Company’s common stock held in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. Stockholders of record will be receiving information from Standard Registrar & Transfer Co., Inc., the Company’s transfer agent, regarding their stock ownership following the reverse stock split.

The reverse stock split will not modify any rights or preferences of the Company’s common stock. The trading symbol for the Company’s common stock will remain “HUSA.” The new CUSIP number for the Company’s common stock following the reverse stock split will be 44183U 308.

Additional information about the reverse stock split can be found in the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission (the “SEC”) on April 11, 2025, a copy of which is also available at www.sec.gov or at www.houstonamerican.com under the SEC Filings tab located in the Reports and Filings page.

About HUSA

HUSA is an independent oil and gas company focused on the development, exploration, exploitation, acquisition, and production of natural gas and crude oil properties. Our principal properties, and operations, are in the U.S. Permian Basin. Additionally, we have properties in the Louisiana U.S. Gulf Coast region. For more information, please visit: https://houstonamerican.com/

Important Information About the Proposed Acquisition and Where to Find It

This press release relates to the previously announced proposed acquisition of Abundia Global Impact Group, LLC (“AGIG”), pursuant to the share exchange agreement, dated as of February 20, 2025, by and among HUSA and AGIG (the “Proposed Acquisition”). For additional information on the Proposed Acquisition, see HUSA’s Current Report on Form 8-K, filed on February 24, 2025, as well as the proxy statement dated April 11, 2025, that was delivered to HUSA’s stockholders as of the applicable record date established for voting on the Proposed Acquisition. HUSA also will file other documents regarding the Proposed Acquisition with the SEC.

Investors and stockholders of HUSA are urged to carefully read the entire proxy statement and any other relevant documents filed with the SEC, as well as any amendments or supplements thereto, because they will contain important information about the Proposed Acquisition. The documents filed by HUSA with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov, or by directing a request to HUSA at 801 Travis Street, Suite 1425, Houston, Texas 77002.

Cautionary Note Regarding Forward-Looking Information:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of, and subject to the safe harbor created by, Section 27A of the Securities Act, Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995, which are referred to as the “safe harbor provisions.” Statements contained or incorporated by reference in this press release that are not historical facts are forward-looking statements, including statements regarding HUSA’s or AGIG’s business and future financial and operating results, and other aspects of HUSA’s or AGIG’s operations or operating results. Words such as “may,” “should,” “will,” “believe,” “expect,” “anticipate,” “target,” “project,” and similar phrases that denote future expectations or intent regarding HUSA’s or AGIG’s financial results, operations, and other matters are intended to identify forward-looking statements that are intended to be covered by the safe harbor provisions. Investors are cautioned not to rely upon forward-looking statements as predictions of future events. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause future events to differ materially from the forward-looking statements in this press release including:
- risks relating to fluctuations of the market value of common stock, including as a result of uncertainty as to the long-term value of the common stock of HUSA or as a result of broader stock market movements;
- the occurrence of any event, change, or other circumstances that could give rise to the termination of the Share Exchange Agreement;
- failure to attract, motivate and retain executives and other key employees;
- disruptions in the business of HUSA or AGIG, which could have an adverse effect on their respective businesses and financial results;
- the unaudited pro forma combined consolidated financial information in the proxy statement is presented for illustrative purposes only and may not be reflective of the operating results and financial condition of the combination of HUSA and AGIG; and
- other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the proxy statement, as well as HUSA’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and other documents filed by HUSA from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
The forward-looking statements included in this press release are made only as of the date hereof. HUSA does not undertake to update, alter, or revise any forward-looking statements made in this report to reflect events or circumstances after the date of this report or to reflect new information or the occurrence of unanticipated events, except as required by law.

For additional information, view the company’s website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.

The MIL Network –
May 29, 2025

Date of purchase of Shares	28 May 2025
Number of Shares purchased	1,586 Class A Shares
Highest price/lowest price paid	£14.36 / £14.22
ISIN for the Shares	GG00B1ZBD492

Open-End Fund	Ticker Symbol	Final distribution per unit	Record Date	Payable Date	Distribution Frequency
Purpose Global Bond Fund – ETF Units	BND	$0.0840	06/03/2025	06/06/2025	Monthly