Category: GlobeNewswire

MIL-OSI: Gevo Reports First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Quarterly Revenue Increased $25 Million Compared to First Quarter of 2024 Due to Strategic Growth Initiatives

Further Revenue and Adjusted EBITDA¹Growth is Expected in 2025

Gevo to Host Conference Call Today at 4:30 p.m. ET

ENGLEWOOD, Colo., May 13, 2025 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) (“Gevo”, the “Company”, “we”, “us” or “our”), a leading developer of cost-effective, renewable hydrocarbon fuels and chemicals that also can deliver significant carbon emission abatement, today announced financial results for the first quarter ended March 31, 2025.

Recent Corporate Highlights: Continuing on a Path to Positive Adjusted EBITDA¹

Revenue and Adjusted EBITDA growth: Total operating revenue increased by approximately $25 million in the first quarter of 2025 compared to the first quarter of 2024.
- This increase was primarily driven by inorganic revenue growth of $23 million during the last two months of the quarter from Gevo North Dakota (through the acquisition of substantially all of the assets of Red Trail Energy, LLC, which closed on January 31, 2025). Gevo’s consolidated financials for the first quarter of 2025 include Gevo North Dakota results for the two months of February and March 2025.
- RNG total operating revenue increased by $1.7 million, or 42%, compared to the first quarter of 2024. This was primarily driven by receiving approval of a -339 gCO2e/MJ carbon intensity (“CI”) score for our RNG project from the California Air Resources Board (“CARB”) under their Low Carbon Fuel Standard (“LCFS”) program, partially offset by lower Renewable Identification Number (“RIN”) prices.
- We expect further Adjusted EBITDA¹ growth through the rest of 2025 as a result of the expected monetization of Section 45Z tax credits generated by our low-carbon ethanol and biogas facilities.
- Other revenue, including sales of isooctane and software services, also increased by $0.6 million in the first quarter of 2025 compared to the first quarter of 2024.
Carbon abatement, a new product that can be sold: Gevo is actively developing the customers and markets for voluntary carbon abatement. Our drop-in fuel products generated total carbon abatement (i.e., emissions sequestered, reduced or avoided by using renewable instead of fossil inputs) of over 100 thousand metric tons of CO₂ in the first quarter of 2025.
- This carbon abatement includes captured and sequestered volume of approximately 29 thousand metric tons of CO₂ at Gevo North Dakota during the two months of February and March 2025.
- During the same period, Gevo North Dakota produced approximately 11.1 million gallons of low-carbon ethanol at an estimated CI of 21 gCO2e/MJ, contributing approximately 47 thousand metric tons of carbon abatement.
- RNG had production of 79,963 MMBtu in the first quarter of 2025 and over 60,000 metric tons of carbon credits were generated in the California LCFS system.

_________________________
¹ Adjusted EBITDA is a non-GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses for shared service functions, non-cash stock-based compensation, and the change in fair value of derivative instruments to GAAP loss from operations as well as monetized tax credits, if any. A reconciliation of adjusted EBITDA to GAAP loss from operations is provided in the financial statement tables following this release. Adjusted EBITDA was referred to as “cash EBITDA” in previous periods.

New offtake agreements for jet fuel and carbon abatement: In April 2025, Gevo signed a pioneering offtake agreement with Future Energy Global (“FEG”), under which FEG will acquire from Gevo the Scope 1 and Scope 3 emissions credits from 10 million gallons per year of fuel to be produced at one of our planned alcohol-to-jet (“ATJ”) facilities. Additionally, we entered into an agreement with a separate undisclosed party for an additional five million gallons per year of SAF, without the carbon value or Scope 1 and Scope 3 emissions credits attached. The carbon abatement for this additional 5 million gallons has been sold to a separate party, not the fuel buyer. Note that Scope 1 and Scope 3 emissions credits are in addition to, and separate from, state and federal compliance credits. These offtake agreements are expected to be useful for financing our ATJ projects in South Dakota or North Dakota.
Verity: Verity is our wholly owned, data verification platform that enables traceable, audit-ready carbon abatement accounting across complex supply chains, supporting regulatory compliance and carbon market participation. In the first quarter of 2025, Verity announced agreements with two new customers, Landus and Minnesota Soybean Processors. These agreements provide access to those customers to track and verify sustainable agriculture attributes, while streamlining compliance reporting and auditability.

2025 First Quarter Financial Highlights

Ended the first quarter with cash, cash equivalents and restricted cash of $134.9 million.
Combined operating revenue and investment income was $30.9 million for the first quarter.
- On a standalone basis, our RNG subsidiary generated revenue of $5.7 million during the first quarter of 2025. This reflects an increase of $1.7 million compared to the previous year, driven by increased LCFS credit generation due to our carbon score for the LCFS program, partially offset by reduced RIN prices.
Loss from operations of $20.1 million for the first quarter.
Non-GAAP Adjusted EBITDA loss¹ of $15.4 million for the first quarter.
Sale of environmental attributes by our RNG subsidiary of $5.4 million for the first quarter.
Gevo RNG generated income from operations of $0.5 million, and non-GAAP Adjusted EBITDA¹ of $2.7 million for the first quarter.
Gevo North Dakota generated income from operations of $1.1 million, and non-GAAP Adjusted EBITDA¹ of $1.8 million for the first quarter.
Net loss per share of $0.09 for the first quarter.

Management Comment

Dr. Patrick Gruber, Gevo’s Chief Executive Officer, commented, “We believe we can get to positive Adjusted EBITDA this year for the company. This is in spite of the perceived headwinds and noise in the marketplace. We have real products to sell now that we own our North Dakota plant. Gevo North Dakota produces ethanol, animal feed, corn oil, and importantly, carbon abatement. The carbon abatement value is generated by capturing CO2 and sending it more than a mile underground into what we think is the best well (or sequestration site) in the country. Having this carbon abatement available to us has opened up new doors in the marketplace as customers and partners don’t have to wait around for synthetic aviation fuel (“SAF”) projects to be built to start developing the market in a real sense. We have approval from the Internal Revenue Service to apply for the Section 45Z tax credit, so we will do that, and that should help meet our Adjusted EBITDA goals.”

Dr. Gruber continued, “We continue to believe that SAF offers an excellent market opportunity. We see that jet fuel demand, beyond SAF, is expected to grow. We continue to believe that alcohol-to-jet offers the most scalable and lowest cost of production route. We need to get plants financed and deployed. To that end, we are doing a few things. First, we continue to be engaged with the U.S. Department of Energy on financing our ATJ-60 project, which we believe advances the stated objectives of the White House to produce more home-made energy including ethanol, biofuels and jet fuel. Second, we are translating the designs and engineering from the ATJ-60 to deploy an ATJ plant that can produce 30 million gallons per year of jet fuel at our Gevo North Dakota site (“ATJ-30”). We expect that this ATJ-30 plant will be near-fully modularized to minimize cost, construction, and start-up risks, and be able to be deployed sooner than or on a similar timeframe as ATJ-60. We already have more than 50% of the capacity of the ATJ-30 sold. Third, by driving down capital costs, we expect that there will be several opportunities for us to “sell” plants, and license our technology portfolio in the future.”

“Unlike other companies in the ATJ space,” Dr. Gruber added, “we are using tried and true, proven at scale, unit operations to produce jet fuel. We figured out how to optimize them, integrate them, and make the jet fuel product in extremely high yield, with low production cost and a very low CI score. We have more than 100 patents covering the business system and technologies for ethanol to jet fuel and other hydrocarbons. We are pleased that Axens, who is the preeminent supplier of the various unit operations needed to make jet fuel from ethylene, including winning a Nobel prize for the trickiest step, has taken a license from Gevo for advanced ATJ processes. We are continuing to strengthen our partnership with Axens.”

“We are also aligning our strategic goals with fiscal discipline measures that should further enable our conservation of cash and realization of our target Adjusted EBITDA growth and strong fiscal year performance.”

Dr. Gruber concluded, “I like our position: we have operating assets that contribute Adjusted EBITDA, we have mature jet fuel projects, we have one of the few operating carbon capture and sequestration operations, we are developing markets with advanced carbon sequestration operations, we have a terrific site in North Dakota to build out capacity for jet fuel and other products, and we have a strong proprietary position given our patents and know-how.”

2025 First Quarter Financial Results

Operating revenue. During the three months ended March 31, 2025, operating revenue increased by $25.1 million compared to the three months ended March 31, 2024. This increase was primarily due to $22.8 million in revenue from Gevo North Dakota in the two months we have owned it, $1.7 million in additional revenue from our RNG project driven by an increase in LCFS credits generated due to our improved carbon score for the LCFS program offset by a decline in RIN prices, and $0.5 million from the sale of isooctane. During the three months ended March 31, 2025, we sold 79,963 MMBtu of RNG from our RNG project, resulting in $0.3 million in RNG sales and $5.4 million in environmental attribute sales.

Cost of production. Cost of production increased $18.9 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to $21.7 million from Gevo North Dakota, partially offset by $3.6 million of future corn basis gains.

Depreciation and amortization. Depreciation and amortization increased $1.2 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to $3.5 million of depreciation related to Gevo North Dakota, partially offset by a $2.6 million reduction of depreciation related to assets fully depreciated at our facility in Luverne, Minnesota (the “Luverne Facility”).

Research and development expense. Research and development expenses decreased $0.5 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to decreased consulting expenses and professional fees.

General and administrative expense. General and administrative expense decreased $1.1 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to a $2.3 million decrease in stock-based compensation, partially offset by $0.5 million higher employee costs, $0.2 million increase in insurance costs and $0.2 million increase in computer and software costs.

Project development costs. Project development costs are primarily related to our ATJ projects and Verity, which consist primarily of employee expenses, preliminary engineering costs, and technical consulting fees. Project development costs decreased $0.3 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to a $1.8 million wind-down fee incurred in 2024, partially offset by $1.1 million of additional employee related costs.

Acquisition related costs. Acquisition related costs of $4.4 million are due to our acquisition of Gevo North Dakota.

Facility idling costs. Facility idling costs are related to the care and maintenance of our Luverne Facility and reprocessing plant. Facility idling costs decreased $0.5 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to utilizing the reprocessing plant for isooctane production.

Loss from operations. The Company’s loss from operations decreased by $3.0 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to increased revenues from Gevo North Dakota and the reduction of general and administrative expenses, partially offset by the acquisition related costs.

Interest expense. Interest expense increased $2.8 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to the debt used to acquire Gevo North Dakota and a higher interest rate on our remarketed RNG bonds.

Interest and investment income. Interest and investment income decreased $2.8 million during the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily due to the usage of cash for the acquisition of Gevo North Dakota and to fund our capital projects and operating costs, resulting in a lower balance of cash equivalent investments during the three months ended March 31, 2025.

Other income (expense), net. Other income (expense), net remained flat for the three months ended March 31, 2025, compared to the three months ended March 31, 2024.

Webcast and Conference Call Information

Hosting today’s conference call at 4:30 p.m. ET will be Dr. Patrick R. Gruber, Chief Executive Officer, Dr. Chris Ryan, President and Chief Operating Officer, L. Lynn Smull, Chief Financial Officer, Dr. Paul Bloom, Chief Business Officer and Dr. Eric Frey, Vice President of Finance and Strategy. They will review Gevo’s financial results and provide an update on recent corporate highlights.

To participate in the live call, please register through the following event weblink: https://register-conf.media-server.com/register/BI14d4db26011d45b9871ce05b8b3c5a63. After registering, participants will be provided with a dial-in number and pin.

To listen to the conference call (audio only), please register through the following event weblink: https://edge.media-server.com/mmc/p/xd9v2i3x.

A webcast replay will be available two hours after the conference call ends on May 13, 2025. The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com.

About Gevo

Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including SAF, motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based RNG facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent CCS facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty ATJ fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.

For more information, see www.gevo.com.

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, the financing and the timing of our ATJ-60 project, our ATJ-30 project, our financial condition, our results of operation and liquidity, our business plans, our business development activities, financial projections related to our business, our RNG project, our sales agreements, our plans to develop our business, our ability to successfully develop, construct, and finance our operations and growth projects, our ability to achieve cash flow from our planned projects, the ability of our products to contribute to lower greenhouse gas emissions, particulate and sulfur pollution, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in our most recent Annual Report on Form 10-K and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Non-GAAP Financial Information

This press release contains a financial measure that does not comply with U.S. generally accepted accounting principles (“GAAP”), including non-GAAP adjusted EBITDA. Non-GAAP adjusted EBITDA excludes depreciation and amortization, allocated intercompany expenses for shared service functions, and non-cash stock-based compensation from GAAP loss from operations. Management believes this measure is useful to supplement its GAAP financial statements with this non-GAAP information because management uses such information internally for its operating, budgeting and financial planning purposes. This non-GAAP financial measure also facilitates management’s internal comparisons to Gevo’s historical performance as well as comparisons to the operating results of other companies. In addition, Gevo believes this non-GAAP financial measure is useful to investors because it allows for greater transparency into the indicators used by management as a basis for its financial and operational decision making. Non-GAAP information is not prepared under a comprehensive set of accounting rules and therefore, should only be read in conjunction with financial information reported under U.S. GAAP when understanding Gevo’s operating performance. A reconciliation between GAAP and non-GAAP financial information is provided below.

Gevo, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share amounts)


	March 31, 2025			December 31, 2024
Assets
Current assets
Cash and cash equivalents	$	65,288		$	189,389
Restricted cash		1,489			1,489
Trade accounts receivable, net		11,746			2,411
Inventories		16,787			4,502
Prepaid expenses and other current assets		8,545			5,920
Total current assets		103,855			203,711
Property, plant and equipment, net		339,070			221,642
Restricted cash		68,155			68,155
Operating right-of-use assets		2,283			1,064
Finance right-of-use assets		1,540			1,877
Intangible assets, net		52,113			8,129
Goodwill		41,605			3,740
Deposits and other assets		69,179			75,623
Total assets	$	677,800		$	583,941
Liabilities
Current liabilities
Accounts payable and accrued liabilities	$	28,770		$	22,006
Operating lease liabilities		692			333
Finance lease liabilities		1,610			2,001
Loans payable		19,925			21
Total current liabilities		50,997			24,361
Remarketed Bonds payable, net		67,317			67,109
Loans payable		79,773			—
Operating lease liabilities		1,840			966
Finance lease liabilities		210			187
Asset retirement obligation		2,142			—
Other long-term liabilities		729			1,830
Total liabilities		203,008			94,453

Redeemable non-controlling interest		4,955			—

Equity
Common stock, $0.01 par value per share; 500,000,000 shares authorized; 239,562,995 and 239,176,293 shares issued and outstanding at March 31, 2025, and December 31, 2024, respectively.		2,396			2,392
Additional paid-in capital		1,289,406			1,287,333
Accumulated deficit		(821,965	)		(800,237	)
Total stockholders’ equity		469,837			489,488
Total liabilities and stockholders’ equity	$	677,800		$	583,941

Gevo, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except share and per share amounts)


	Three Months Ended March 31,
	2025			2024
Total operating revenues	$	29,109		$	3,990
Operating expenses:
Cost of production		21,446			2,587
Depreciation and amortization		5,622			4,451
Research and development expense		1,052			1,548
General and administrative expense		11,084			12,150
Project development costs		5,002			5,319
Acquisition related costs		4,438			—
Facility idling costs		604			1,076
Total operating expenses		49,248			27,131
Loss from operations		(20,139	)		(23,141	)
Other (expense) income
Interest expense		(3,294	)		(542	)
Interest and investment income		1,770			4,593
Other (expense) income, net		(110	)		215
Total other (expense) income, net		(1,634	)		4,266
Net loss		(21,773	)		(18,875	)
Net loss attributable to non-controlling interest		(45	)		—
Net loss attributable to Gevo, Inc.	$	(21,728	)	$	(18,875	)

Net loss per share – basic and diluted	$	(0.09	)	$	(0.08	)
Weighted-average number of common shares outstanding – basic and diluted		232,027,993			240,844,334

Gevo, Inc.
Condensed Consolidated Statements of Stockholders’ Equity
(In thousands, except share amounts)


	For the Three Months Ended March 31, 2025 and 2024


	Common Stock									Accumulated			Stockholders’
	Shares			Amount			Paid-In Capital			Deficit			Equity
Balance, December 31, 2024		239,176,293		$	2,392		$	1,287,333		$	(800,237	)	$	489,488
Non-cash stock-based compensation		—			—			1,898			—			1,898
Stock-based awards and related share issuances, net		386,702			4			175			—			179
Net loss		—			—			—			(21,728	)		(21,728	)
Balance, March 31, 2025		239,562,995		$	2,396		$	1,289,406		$	(821,965	)	$	469,837

Balance, December 31, 2023		240,499,833		$	2,405		$	1,276,581		$	(721,597	)	$	557,389
Non-cash stock-based compensation		—			—			4,233			—			4,233
Stock-based awards and related share issuances, net		1,204,232			12			583			—			595
Repurchase of common stock		(2,127,661	)		(21	)		(1,376	)		—			(1,397	)
Net loss		—			—			—			(18,875	)		(18,875	)
Balance, March 31, 2024		239,576,404		$	2,396		$	1,280,021		$	(740,472	)	$	541,945

Gevo, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)


	Three Months Ended March 31,
	2025			2024
Operating Activities
Net loss	$	(21,773	)	$	(18,875	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		1,898			4,233
Depreciation and amortization		5,622			4,451
Change in fair value of derivative instruments		(2,732	)		—
Other non-cash (income) expense		1,004			656
Changes in operating assets and liabilities, net of effects of acquisition:
Accounts receivable		(4,355	)		135
Inventories		(1,045	)		(55	)
Prepaid expenses and other current assets, deposits and other assets		(2,264	)		(3,297	)
Accounts payable, accrued expenses and non-current liabilities		(403	)		(3,326	)
Net cash used in operating activities		(24,048	)		(16,078	)
Investing Activities
Acquisitions of property, plant and equipment		(5,834	)		(17,512	)
Acquisition of Red Trail Energy		(198,461	)		–
Net cash used in investing activities		(204,295	)		(17,512	)
Financing Activities
OIC loan proceeds		105,000			—
Payment of debt issuance costs		(5,480	)		—
Non-controlling interest		5,000			—
Proceeds from the exercise of stock options		179			—
Payment of loans payable		—			(32	)
Payment of finance lease liabilities		(457	)		(23	)
Repurchases of common stock		—			(1,397	)
Net cash provided by (used in) financing activities		104,242			(1,452	)
Net decrease in cash and cash equivalents		(124,101	)		(35,042	)
Cash, cash equivalents and restricted cash at beginning of period		259,033			375,597
Cash, cash equivalents and restricted cash at end of period	$	134,932		$	340,555

Gevo, Inc.
Reconciliation of GAAP to Non-GAAP Financial Information
(In thousands)


	Three Months Ended March 31,
	2025			2024
Non-GAAP Adjusted EBITDA (Consolidated):
Loss from operations	$	(20,139	)	$	(23,141	)
Depreciation and amortization		5,622			4,451
Stock-based compensation		1,898			4,233
Change in fair value of derivative instruments		(2,732	)		—
Non-GAAP adjusted EBITDA (loss) (Consolidated)	$	(15,351	)	$	(14,457	)

	Three Months Ended March 31, 2025

	Gevo			GevoFuels			GevoRNG			GevoND			Consolidated
Non-GAAP Adjusted EBITDA (Consolidated):
(Loss) income from operations	$	(20,984	)	$	(724	)	$	469		$	1,100		$	(20,139	)
Depreciation and amortization		747			—			1,403			3,472			5,622
Allocated intercompany expenses for shared service functions		(890	)		—			890			—			—
Stock-based compensation		1,937			—			(39	)		—			1,898
Change in fair value of derivative instruments		—			—			—			(2,732	)		(2,732	)
Non-GAAP adjusted EBITDA (loss) (Consolidated)	$	(19,190	)	$	(724	)	$	2,723		$	1,840		$	(15,351	)

	Three Months Ended March 31, 2024

	Gevo			GevoFuels			GevoRNG			Consolidated
Non-GAAP Adjusted EBITDA (Consolidated):
Loss from operations	$	(20,126	)	$	(1,010	)	$	(2,005	)	$	(23,141	)
Depreciation and amortization		3,077			—			1,374			4,451
Allocated intercompany expenses for shared service functions		(890	)		—			890			—
Stock-based compensation		4,199			—			34			4,233
Non-GAAP adjusted EBITDA (loss) (Consolidated)	$	(13,740	)	$	(1,010	)	$	293		$	(14,457	)

Media Contact
Heather Manuel
Vice President of Stakeholder Engagement & Partnerships
PR@gevo.com

Investor Contact
Eric Frey, PhD
Vice President of Finance and Strategy
IR@Gevo.com

The MIL Network –

May 14, 2025

MIL-OSI: AGM Group Holdings Inc. Files 2024 Annual Report on Form 20-F

Source: GlobeNewswire (MIL-OSI)

Beijing, May 13, 2025 (GLOBE NEWSWIRE) — AGM Group Holdings Inc. (“AGM Holdings” or the “Company”) (NASDAQ: AGMH), an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the “SEC”) on May 13, 2025.

The annual report on Form 20-F can be accessed on the SEC’s website at www.sec.gov and on the Company’s investor relations website at www.agmprime.com. The Company will also provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders upon request.

About AGM Group Holdings Inc.

AGM Group Holdings Inc. (NASDAQ: AGMH) is an integrated technology company specializing in the assembling and sales of high-performance hardware and computing equipment. With a mission to become a key participant and contributor in the global blockchain ecosystem, AGMH focuses on the research and development of blockchain-oriented Application-Specific Integrated Circuit (ASIC) chips, the assembling and sales of high-end crypto miners for Bitcoin and other cryptocurrencies. For more information, please visit www.agmprime.com.

For more information, please contact:

AGM Group Holdings Inc.
Email: ir@agmprime.com
Website: http://www.agmprime.com

Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

The MIL Network –

May 14, 2025

MIL-OSI: Robinhood Markets, Inc. Reports April 2025 Operating Data

Source: GlobeNewswire (MIL-OSI)

MENLO PARK, Calif., May 13, 2025 (GLOBE NEWSWIRE) — Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported select monthly operating data for April 2025.

Funded Customers at the end of April were 25.9 million (up approximately 120 thousand from March 2025, up approximately 2 million year-over-year).
Total Platform Assets at the end of April were $232 billion (up 5% from March 2025, up 88% year-over-year). Net Deposits were $6.8 billion in April, or a 37% annualized growth rate relative to March 2025 Total Platform Assets. Over the last twelve months, Net Deposits were $59.2 billion, or an annual growth rate of 48% relative to April 2024 Total Platform Assets.
Equity Notional Trading Volumes were $157.8 billion (up 26% from March 2025, up 123% year-over-year). Options Contracts Traded were 167.5 million (roughly flat to March 2025, up 32% year-over-year). Crypto Notional Trading Volumes were $8.6 billion (down 24% from March 2025, down 15% year-over-year).
Margin balances at the end of April were $8.4 billion (down 5% from the end of March 2025, up 105% year-over-year).
Total Cash Sweep balances at the end of April were $28.9 billion (up 2% from the end of March 2025, up 51% year-over-year).
Total Securities Lending Revenue in April was $25 million (up 4% from March 2025, up 19% year-over-year).

	April 2025	March 2025	M/M Change	April 2024	Y/Y Change
(M – in millions, B – in billions)
Funded Customer Growth (M)
Funded Customers	25.9	25.8	–	24.0	+8%

Asset Growth ($B)
Total Platform Assets	$232.3	$220.6	+5%	$123.3	+88%
Net Deposits	$6.8	$7.6	NM	$4.9	NM

Trading
Trading Days (Equities and Options)	21	21	–	22	(5%)
Total Trading Volumes
Equity ($B)	$157.8	$125.6	+26%	$70.7	+123%
Options Contracts (M)	167.5	167.9	–	126.6	+32%
Crypto ($B)	$8.6	$11.3	(24%)	$10.1	(15%)

Daily Average Revenue Trades (DARTs) (M)
Equity	2.3	2.3	–	1.8	+28%
Options	1.2	1.1	+9%	0.8	+50%
Crypto	0.5	0.6	(17%)	0.4	+25%

Customer Margin and Cash Sweep ($B)
Margin Book	$8.4	$8.8	(5%)	$4.1	+105%
Total Cash Sweep	$28.9	$28.2	+2%	$19.1	+51%
Gold Cash Sweep	$26.9	$26.4	+2%	$18.4	+46%
Non-Gold Cash Sweep	$2.0	$1.8	+11%	$0.7	+186%

Total Securities Lending Revenue ($M)	$25	$24	+4%	$21	+19%

Note: Net Deposits do not include results from TradePMR.

For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics release, which is available on investors.robinhood.com.

The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Robinhood’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Robinhood’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release.

About Robinhood

Robinhood Markets, Inc. (NASDAQ: HOOD) transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors. Today, Robinhood lets you trade stocks, options, futures (which includes options on futures, swaps, and event contracts), and crypto, invest for retirement, and earn with Robinhood Gold. Headquartered in Menlo Park, California, Robinhood puts customers in the driver’s seat, delivering unprecedented value and products intentionally designed for a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.

Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview) and its Newsroom (accessible at newsroom.aboutrobinhood.com), as means of disclosing information to the public in a broad, non-exclusionary manner for purposes of the SEC Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.

“Robinhood” and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners.

Contacts

Investor Relations

ir@robinhood.com

Media

press@robinhood.com

The MIL Network –

May 14, 2025

MIL-OSI: authID Reports Financial and Operating Results for the First Quarter Ended March 31, 2025

Source: GlobeNewswire (MIL-OSI)

DENVER, May 13, 2025 (GLOBE NEWSWIRE) — authID^® (Nasdaq: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today reported financial and operating results for the first quarter ended March 31, 2025.

First Quarter 2025 vs. First Quarter 2024 Financial Summary

Total revenue for the quarter increased to $0.30 million, compared to $0.16 million a year ago.
Operating expenses were $4.7 million, compared to $3.3 million a year ago.
Net loss was $4.3 million, or $0.40 per share, compared to a loss of $3.1 million, or $0.32 per share a year ago.
Adjusted EBITDA Loss of $3.9 million (non-GAAP measure as defined below), compared with $2.4 million a year ago.
Gross bARR (Booked Annual Recurring Revenue) of $0.01 million (non-GAAP measure as defined below), compared with $0.10 million a year ago.

“I’m incredibly excited about authID’s growth prospects in 2025 and beyond,” said Rhon Daguro, authID’s Chief Executive Officer. “We have solidified our foundation to become a leader in the evolving and fast-growing biometric authentication market while making progress on our ambitious 2025 goals. We are continuing to advance our conversations with key enterprise and platform partner prospects in order to achieve our bookings targets and are intensifying our focus on the large enterprise and large channel OEM segments as we move through the second quarter.

“We recently secured nearly $9 million in capital through two financing rounds to improve our balance sheet, broaden our investor base and provide us with additional expertise and support as we scale our business and invest in new opportunities. Through these efforts we have also created an advisory board comprised of two new expert advisors, Eric Swider and Donald Nitti. Both leaders have extensive experience in different industry and government sectors where authID’s biometric identity solutions can address critical needs.

“As we move through the year, we continue to expect to close multiple Fortune 500 and multi-national customers in 2025, and we are currently in the late stages of our sales cycle with these potential customers. I’m pleased with our momentum to date and remain confident that we will sign new customers and drive significant growth towards our $18 million bookings target for 2025.”

Recent Business and Operational Highlights

Secured nearly $9 million dollars after expenses from existing and new shareholders through two registered direct offerings, while also creating an advisory board comprised of two new expert advisors, Eric Swider and Donald Nitti.
Signed a paid live production trial agreement with a Global Fortune 500 prospect to deliver authID’s solution in a controlled rollout. Upon completion, authID expects to secure a longer-term agreement.
Advanced to final stages with a Global Fortune 500 biometric hardware provider to embed authID into a solution offering reusable, interoperable identity credentials for employee workforces.
Confirmed as the selected vendor by one of the largest identity fraud platforms and are in the final stages of contract negotiations.
Launched efforts into the Public Sector by providing a reuseable identity platform for removing the barriers between siloed systems for government workforces.
Began integration with a blockchain-based data privacy and security platform to validate identity of data owners through privacy preserving biometrics which bring authID’s technology into smart cities in South America and India to start.
Identified new opportunities in the Indian banking sector with our Indian partner to protect high value transactions and account access with authID’s PrivacyKey technology
Successfully delivered a proof of concept and entered into contract negotiations with a Fortune 500 prospect to deliver identity verification and biometric solutions.
Named “Best ID Management Platform” Award in 2025 FinTech Breakthrough Awards for the third time. authID was recognized for its groundbreaking biometric identity verification technology, which has set a new standard for precision, speed, and data privacy in the fintech industry, as well as the verification landscape at large.

Financial Results for the First Quarter Ended March 31, 2025

Total revenue for the three months ended March 31, 2025 was $0.30 million, compared with $0.16 million a year ago.

Operating expenses for the three months ended March 31, 2025, were $4.7 million, compared to $3.3 million a year ago. The 2025 increase is primarily due to increased headcount investment in sales and R&D.

Net loss for the three months ended March 31, 2025 was $4.3 million, of which non-cash charges were $0.5 million, compared with a net loss of $3.1 million a year ago, of which non-cash charges were $0.8 million

Loss per share for the three months ended March 31, 2025 was $0.40, compared with $0.32 a year ago.

Adjusted EBITDA loss was $3.9 million for the three months ended March 31, 2024, compared with $2.4 million a year ago. The increase in Adjusted EBITDA loss is primarily driven by the increase in headcount investment in sales and R&D. Please refer to Table 1 for reconciliation of net loss to Adjusted EBITDA (a non-GAAP measure).

Remaining Performance Obligation (RPO) as of March 31, 2025, was $13.85 million, of which $1.01 million is held as deferred revenue and $12.84 million is related to other non-cancellable contracted amounts, compared to RPO of $4.03 million as of March 31, 2024. The Company expects to recognize the full RPO of $13.85 million over the entire life of the contracts, which are typically signed with a 3-year term.

The gross amount of Booked Annual Recurring Revenue or bARR, (a non-GAAP measure, as defined below), signed in the first quarter of 2025 was $0.01 million, down from $0.10 million of gross bARR a year ago. The net amount of bARR was negative $0.13 million compared to $0.10 million of net bARR signed in the comparable period in 2024. The Q1 bARR is comprised of $0 million in Committed Annual Recurring Revenue (cARR) and $0.01 million in estimated Usage Above Commitments (UAC).

The net amount of bARR reflects the deduction of the bARR of contracts previously included in reported bARR, due to certain customers experiencing delays in Production Go-Live timing and volume ramping. See below for further definition and explanation of ARR and bARR, non-GAAP measures.

Conference Call

A conference call and webcast will be held today at 5.00 p.m. EDT, hosted by authID Chief Executive Officer, Rhon Daguro and Chief Financial Officer, Ed Sellitto to discuss the financial results and provide a corporate update. To participate on the live conference call, please access this registration link and you will be provided with dial-in details. To avoid delays, participants are encouraged to dial into the conference call 15 minutes ahead of the scheduled start time. A live webcast of the call will be available at webcast registration and on the “Events & Presentations” page of the Company’s website at investors.authid.ai. Only participants on the live conference call will be able to ask questions.

A replay of the event and a copy of the presentation will also be available for 90 days at authID’s Investor Relations site.

About authID Inc.

authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.

For further information please visit authid.ai

Investor Relations Contacts
authID Investor Relations
investor-relations@authID.ai

Media Contacts
Walter Fowler
1-631-334-3864
wfowler@nexttechcomms.com

Forward-Looking Statements

This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the future results of operations, growth and sales, potential contract signings, booked Annual Recurring Revenue (bARR) (and its components cARR and UAC), Annual Recurring Revenue (ARR), cash flow, cash position and financial position, business strategy, plans and objectives of management for future operations of both authID Inc. and its business partners, are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding authID’s present and future business strategies, and the environment in which authID expects to operate in the future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the Company’s ability to attract and retain customers; successful implementation of the services to be provided under new customer contracts and their adoption by customers’ users; the Company’s ability to compete effectively; changes in laws, regulations and practices; the increase in international tariffs and uncertainty over international trading conditions, changes in domestic and international economic and political conditions, the impact of the wars in Ukraine and the Middle East, inflationary pressures, changes in interest rates, and others. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2024 filed at www.sec.gov and other documents filed with the SEC for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this release and cannot be relied upon as a guide to future performance. authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based.

Non-GAAP Financial Information

The Company provides certain non-GAAP financial measures in this statement. These non-GAAP key business indicators, which include Adjusted EBITDA, bARR and ARR should not be considered replacements for and should be read in conjunction with the GAAP financial measures.

Management believes that Adjusted EBITDA, when viewed with our results under GAAP and the accompanying reconciliations, provides useful information about our period-over-period results. Adjusted EBITDA is presented because management believes it provides additional information with respect to the performance of our fundamental business activities and is also frequently used by securities analysts, investors, and other interested parties in the evaluation of comparable companies. We also rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our company and our management.

Adjusted EBITDA is a non-GAAP financial measure that represents GAAP net loss adjusted to exclude (1) interest expense and debt discount and debt issuance costs amortization expense, (2) interest income, (3) depreciation and amortization, (4) stock-based compensation expense (stock options) and certain other items management believes affect the comparability of operating results.

Please see Table 1 below for a reconciliation of Adjusted EBITDA – continuing operations to net loss – continuing operations, the most directly comparable financial measure calculated and presented in accordance with GAAP.


TABLE 1 Reconciliation of Loss from Continuing Operations to Adjusted EBITDA Continuing Operations.

	Three Months Ended March 31,
	2025			2024
Loss from continuing operations	$	(4,339,467	)	$	(3,057,577	)

Addback:

Interest expense, net		12,712			13,138
Other income		(51,544	)		(108,920	)
Depreciation and amortization		30,192			43,408
Stock compensation		454,339			722,971
Adjusted EBITDA continuing operations (Non-GAAP)		(3,893,768	)		(2,386,980	)

Management believes that bARR and ARR, when viewed with our results under GAAP, provide useful information about the direction of future growth trends of the Company’s revenues. We also rely on bARR as one of several primary measures to review and assess the sales performance of our Company and our management team in connection with our executive compensation. The Company defines Booked Annual Recurring Revenue or bARR, as the amount of annual recurring revenue represented by the estimated amounts of annual recurring revenue we believe will be earned under such contracted orders, looking out eighteen months from the date of signing of each customer contract. This estimate is comprised of two components (1) Committed Annual Recurring Revenue (cARR), which represents the minimum amounts that customers are contractually committed to pay each year over the life of the contract and (2) Usage Above Commitments (UAC), which represents our estimate of the rate of annual recurring revenue arising from actual usage of our services above the contractual minimums, that we believe the Customer will achieve after 18 months. The net amount of bARR reflects the deduction of the bARR of contracts previously included in reported bARR, which were subject to attrition, or other downward adjustments during the quarter.

The company defines Annual Recurring Revenue or ARR, as the amount of recurring revenue recognized during the last three months of the relevant period as determined in accordance with GAAP, multiplied by four.

bARR may be distinguished from ARR, as bARR does not take specifically into account the time to implement any contract for authID’s services, nor for any ramp in adoption, or seasonality of usage of our biometric products but is based on the assumption that 18 months after signing these matters will have been generally resolved. Furthermore, bARR is based on estimates of future revenues under particular contracts, whereas ARR, whilst also forward-looking, is based on historical revenues recognized in accordance with GAAP during the relevant period. A reconciliation of bARR to a GAAP measure is not provided as there is no comparable GAAP measure and we believe that any attempt at such reconciliation may be confusing to investors. bARR and ARR have limitations as analytical tools, and you should not consider them in isolation from, or as a substitute for, analysis of our results as reported under GAAP. Some of these limitations are:

bARR & ARR should not be considered as predictors of future revenues but only as indicators of the direction in which revenues may be trending. Actual revenue results in the future as determined in accordance with GAAP may be significantly different to the amounts indicated as bARR or ARR at any time.
bARR and ARR are to be considered “forward-looking statements” and subject to the same risks, as other such statements (see note on “Forward-Looking Statements” above).


authID INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

	Three Months Ended March 31,
	2025			2024
Revenues, net	$	296,256		$	157,378

Operating Expenses:
General and administrative		2,645,700			2,062,361
Research and development		1,998,663			1,204,968
Depreciation amortization		30,192			43,408
Total operating expenses		4,674,555			3,310,737

Loss from operations		(4,378,299	)		(3,153,359	)

Other Income (Expense):
Interest expense, net		(12,712	)		(13,138	)
Other income		51,544			108,920
Other income (expense), net		38,832			95,782

Net loss before income taxes		(4,339,467	)		(3,057,577	)
Income tax expense		–			–
Net Loss	$	(4,339,467	)	$	(3,057,577	)


Net Loss Per Share – Basic and Diluted operations	$	(0.40	)	$	(0.32	)

Weighted Average Shares Outstanding – Basic and Diluted		10,920,909			9,450,220


authID INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS

		March 31, 2025			December 31, 2024
ASSETS		(Unaudited)
Current Assets:
Cash	$	2,866,347		$	8,471,561
Accounts receivable, net		1,028,564			97,897
Contract assets		487,551			426,859
Deferred contract costs		595,359			617,918
Other current assets, net		623,475			460,192
Total current assets		5,601,296			10,074,427

Intangible assets, net		185,226			213,718
Goodwill		4,183,232			4,183,232
Total assets	$	9,969,754		$	14,471,377

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable and accrued expenses	$	811,934		$	1,715,410
Commission liability		191,519			459,657
Severance liability		325,000			325,000
Convertible debt, net		–			240,884
Deferred revenue		1,011,448			215,237
Total current liabilities		2,339,901			2,956,188

Total liabilities	$	2,339,901		$	2,956,188

Commitments and Contingencies (Note 8)

Stockholders’ Equity:
Common stock, $0.0001 par value, 150,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 10,920,909 shares issued and outstanding as of March 31, 2025 and December 31, 2024		1,092			1,092
Additional paid-in capital		185,766,847			185,312,508
Accumulated deficit		(178,147,996	)		(173,808,529	)
Accumulated comprehensive income		9,910			10,118
Total stockholders’ equity		7,629,853			11,515,189
Total liabilities and stockholders’ equity	$	9,969,754		$	14,471,377


authID INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

	Three Months Ended March 31,
	2025			2024
CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss	$	(4,339,467	)	$	(3,057,577	)
Adjustments to reconcile net loss with cash flows from operations:
Stock-based compensation		454,339			722,971
Depreciation and amortization expense		30,192			43,408
Amortization of debt discounts and issuance costs		4,116			4,115

Changes in operating assets and liabilities:
Accounts receivable		(930,667	)		(237,506	)
Contract assets		(60,692	)		(49,713	)
Deferred contract cost		22,559			(3,417	)
Other current assets		(163,283	)		(9,521	)
Commission liability		(268,138	)		(40,950	)
Accounts payable and accrued expenses		(903,476	)		(495,357	)
Deferred revenue		796,211			176,019
Net cash flows from operating activities		(5,358,306	)		(2,947,528	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of intangible assets		(1,700	)		–
Net cash flows from investing activities		(1,700	)		–

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of convertible notes		(245,000	)		–
Net cash flows from financing activities		(245,000	)		–

Effect of Foreign Currencies		(208	)		(3,359	)

Net Change in Cash		(5,605,214	)		(2,950,887	)
Cash, Beginning of the Period		8,471,561			10,177,099
Cash, End of the Period	$	2,866,347		$	7,226,212

Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	$	13,137		$	9,023

The MIL Network –

May 14, 2025

MIL-OSI: Urgently Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

VIENNA, Va., May 13, 2025 (GLOBE NEWSWIRE) — Urgent.ly Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today reported financial results for the first quarter ended March 31, 2025.

“I am pleased with our solid start to the year, as we delivered revenue in line with our expectations and record gross margin of 26%. In addition, we achieved GAAP operating loss improvement of 71% and non-GAAP operating loss improvement of 93%, or $0.4 million, which was ahead of our guidance for non-GAAP operating loss of $1.0 million. By almost all key measures, we delivered our best quarter as a public company, and I am proud of the tireless effort across the organization to achieve these results. As we look ahead to the balance of the year, we expect to deliver positive sequential revenue growth during the third quarter, sustain our non-GAAP operating break-even and move closer to positive cash flow,” said Matt Booth, CEO of Urgently.

First Quarter 2025 Updates:

Revenue of $31.3 million, a decrease of 22% year over year.
Gross profit of $8.0 million, a decrease of 15% year over year.
Gross margin of 26% compared to 23% in the prior year period.
GAAP operating expenses of $10.4 million, an improvement of 41%, compared to $17.7 million in the prior year period.
Non-GAAP operating expenses of $8.4 million, an improvement of 42%, compared to $14.5 million in the prior year period.
GAAP operating loss of $2.4 million compared to $8.3 million in the prior year period, an improvement of 71%.
Non-GAAP operating loss of $0.4 million, an improvement of 93%, compared to $5.1 million in the prior year period.
Approximately 189,000 dispatches completed.
Consumer satisfaction score of 4.6 out of 5 stars.

Earnings Conference Call

Urgently will host a conference call to discuss the first quarter 2025 financial results on May 13, 2025 at 5:00 p.m. Eastern Time. The conference call can be accessed live over the phone by dialing 1-877-317-6789 (USA) or 1-412-317-6789 (International). The replay will be available via webcast through Urgently’s Investor Relations website at https://investors.geturgently.com.

About Urgently

Urgently is focused on helping everyone move safely, without disruption, by safeguarding drivers, promptly assisting their journey, and employing technology to proactively avert possible issues. The company’s digitally native software platform combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for leading brands across automotive, insurance, telematics and other transportation-focused verticals. Urgently fulfills the demand for connected roadside assistance services, enabling its partners to deliver exceptional user experiences that drive high customer satisfaction and loyalty, by delivering innovative, transparent and exceptional connected mobility assistance experiences on a global scale. For more information, visit www.geturgently.com.

For media and investment inquiries, please contact:

Press: media@geturgently.com

Investor Relations: investorrelations@geturgently.com

Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, we believe Non-GAAP Operating Expenses and Non-GAAP Operating Loss are useful to investors in evaluating our operating performance. We use the non-GAAP financial measures to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that the non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. The non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, which could reduce the usefulness of the non-GAAP financial measures presented herein as a tool for comparison.

A reconciliation is provided below for each of the non-GAAP financial measures to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measures to our most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business. We define Non-GAAP Operating Expenses as operating expenses, excluding depreciation and amortization expense, stock-based compensation expense, and non-recurring charges (or income) such as transaction and restructuring costs. We define Non-GAAP Operating Loss as operating loss, excluding depreciation and amortization expense, stock-based compensation expense, and non-recurring charges (or income) such as transaction and restructuring costs.

For a discussion of Non-GAAP Operating Expenses and Non-GAAP Operating Loss, please see the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Urgently’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which will be filed with the Securities and Exchange Commission (the “SEC”) by May 15, 2025.

Forward Looking Statements

This press release contains or may contain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Urgently’s future financial or operating performance. Such statements are based upon current plans, estimates and expectations of management of Urgently in light of historical results and trends, current conditions and potential future developments, and are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Forward-looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “predict,” “target,” “believe,” “continue,” “estimate” or “expect” or the negative of these words or other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements, other than historical facts, including, without limitation, statements regarding Urgently’s expected revenue growth, cash flow and non-GAAP operating loss break-even, and any assumptions underlying any of the foregoing, are forward-looking statements.

There are a significant number of factors that could cause actual results to differ materially from statements made in this press release and our earnings call, including but not limited to: risks associated with our ability to raise funds through future financings and the sufficiency of our cash and cash equivalents to meet our liquidity needs; our history of losses; our limited operating history; our ability to service our debt, comply with our debt agreements and refinance our obligations under such agreements, including by successfully deploying the capital from the new credit facility and repaying our new and existing debt facilities; our ability to retain customers and expand existing customers’ use of our platform; our ability to attract new customers; our ability to expand into new solutions, technologies and geographic regions; our ability to adequately forecast consumer demand and optimize our network of service providers; our ability to compete in the markets in which we participate; our ability to comply with laws and regulations applicable to our business; our ability to continue as a going concern; our ability to develop and maintain an effective system of internal controls and procedures and accurately report our financial results in a timely manner; our ability to maintain the listing of our common stock on the Nasdaq Stock Market LLC; and expectations regarding the impact of weather events, natural disasters or health epidemics, including the war between Hamas and Israel, on our business. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our filings with the SEC, including in our annual report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on March 14, 2025, as amended by our annual report on Form 10-K/A, which was filed with the SEC on April 17, 2025, our quarterly reports on Form 10-Q, and other filings and reports that we may file from time to time with the SEC. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements.

Consolidated Balance Sheets
(in thousands)
(unaudited)

	March 31, 2025			December 31, 2024
Assets
Current assets:
Cash and cash equivalents	$	6,410		$	14,179
Accounts receivable, net		23,506			22,890
Prepaid expenses and other current assets		2,900			3,687
Total current assets		32,816			40,756
Right-of-use assets		681			810
Property, equipment and software, net		1,529			1,577
Capitalized software costs, net		5,291			4,637
Intangible assets, net		4,006			4,396
Other non-current assets		2,109			1,895
Total assets	$	46,432		$	54,071

Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable	$	3,160		$	2,900
Accrued expenses and other current liabilities		15,783			19,991
Current lease liabilities		371			446
Current portion of long-term debt, net		13,198			14,257
Total current liabilities		32,512			37,594
Long-term lease liabilities		406			466
Long-term debt, net		40,381			39,883
Derivative liability		471			—
Other long-term liabilities		8,740			7,798
Total liabilities		82,510			85,741
Stockholders’ deficit:
Common stock		1			1
Additional paid-in capital		168,201			167,125
Accumulated deficit		(204,280	)		(198,796	)
Total stockholders’ deficit		(36,078	)		(31,670	)
Total liabilities and stockholders’ deficit	$	46,432		$	54,071

Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)

	Three Months Ended March 31,
	2025			2024
Revenue	$	31,272		$	40,092
Cost of revenue		23,283			30,741
Gross profit		7,989			9,351
Operating expenses:
Research and development		1,968			4,243
Sales and marketing		703			2,019
Operations and support		2,411			4,321
General and administrative		4,368			6,014
Depreciation and amortization		986			1,102
Total operating expenses		10,436			17,699
Operating loss		(2,447	)		(8,348	)
Other income (expense), net:
Interest expense, net		(3,277	)		(3,789	)
Change in fair value of derivative liability		37			—
Change in fair value of accrued purchase consideration		77			821
Loss on debt extinguishment		—			(1,405	)
Income from equity method investment		150			—
Other expense, net		(5	)		(255	)
Total other expense, net		(3,018	)		(4,628	)
Loss before income taxes		(5,465	)		(12,976	)
Provision for income taxes		19			39
Net loss	$	(5,484	)	$	(13,015	)

Loss per share, basic and diluted	$	(4.69	)	$	(11.69	)

Non-GAAP Financial Measures
(in thousands)
(unaudited)

Reconciliation of Operating Expenses to Non-GAAP Operating Expenses

	Three Months Ended March 31,
	2025			2024
Operating expenses	$	10,436		$	17,699
Less: Depreciation and amortization expense		(986	)		(1,102	)
Less: Stock-based compensation expense		(538	)		(718	)
Less: Non-recurring transaction costs		(375	)		(726	)
Less: Restructuring costs		(174	)		(699	)
Non-GAAP operating expenses	$	8,363		$	14,454

Reconciliation of Operating Loss to Non-GAAP Operating Loss

	Three Months Ended March 31,
	2025			2024
Operating loss	$	(2,447	)	$	(8,348	)
Add: Depreciation and amortization expense		986			1,102
Add: Stock-based compensation expense		538			718
Add: Non-recurring transaction costs		375			726
Add: Restructuring costs		174			699
Non-GAAP operating loss	$	(374	)	$	(5,103	)

The MIL Network –

May 14, 2025

MIL-OSI: CalPrivate Bank Announces New Chief Credit Officer

Source: GlobeNewswire (MIL-OSI)

LA JOLLA, Calif., May 13, 2025 (GLOBE NEWSWIRE) — Private Bancorp of America, Inc. (OTCQX:PBAM) (“Company”), the parent company of CalPrivate Bank (“Bank”) announced the appointment of Andrew K Meitzen as the Bank’s new Executive Vice President and Chief Credit Officer. Mr. Meitzen brings impressive skills and diverse experience working in the banking industry at both community banks and the Office of the Comptroller of the Currency (OCC) with an emphasis in lending, credit, and enterprise risk management.

Rick Sowers, President and Chief Executive Officer of the Company and Bank stated, “We are excited to have Andrew join our team bringing his expertise in disciplined credit and deal structuring, along with the technical acumen to navigate the ever-evolving credit landscape of today’s economy.”

“I am honored to be joining the CalPrivate Team and excited to contribute to the ongoing success of the Bank and its Clients,” said Mr. Meitzen. “The core values of Relationships, Solutions and Trust resonate with me and are the perfect foundation for continued growth.”

About Private Bancorp of America, Inc.
Private Bancorp of America, Inc. (OTCQX: PBAM) PBAM is the holding company for CalPrivate Bank, which operates offices in Coronado, San Diego, La Jolla, Newport Beach, El Segundo, Beverly Hills, and soon Montecito, as well as through efficient digital banking services. CalPrivate Bank is driven by its core values of building client Relationships based on superior client Solutions, unparalleled Service, and mutual Trust. The Bank caters to high-net-worth individuals, professionals, closely held businesses, and real estate entrepreneurs, delivering a Distinctly Different™ personalized banking experience while leveraging cutting-edge technology to enhance our clients’ evolving needs. CalPrivate Bank is in the top tier of customer service survey ratings in the nation, scoring almost three times higher than the median domestic bank. The Bank offers comprehensive deposit and treasury services, rapid and creative loan options including various portfolio and government-guaranteed lending programs, cross border banking, and innovative, unique technologies that drive enhanced client performance. CalPrivate Bank has been recognized by Bank Director’s RankingBanking® as the 10th best bank in the country and the #1 bank in its asset class for both return on assets (ROA) and return on equity (ROE). CalPrivate Bank was also ranked in the top 5% of banks in the U.S. with assets between $2B and $10B by American Banker. Additionally, CalPrivate Bank is a Bauer Financial 5-star rated bank, an SBA Preferred Lender, and has been honored as Community Bank SBA 504 Lender of the Year by the NADCO Community Impact Awards, exemplifying excellence in the banking industry. These prestigious rankings highlight the Bank’s commitment to delivering exceptional banking services and setting new industry standards.

Learn more at www.calprivate.bank.

Investor Relations Contact
Rick Sowers
President and CEO
Private Bancorp of America, Inc.
(424) 303-4894

Safe Harbor Paragraph
This press release contains expressions of expectations, both implied and explicit, that are “forward looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. We caution you that a number of important factors could cause actual results to differ materially from those in the forward-looking statements, especially given the current turmoil in the banking and financial markets. These factors include the effects of depositors withdrawing funds unexpectedly, counterparties being unable to provide liquidity sources that we believe should be available, loan losses, economic conditions and competition in the geographic and business areas in which Private Bancorp of America, Inc. operates, including competition in lending and deposit acquisition, the unpredictability of fee income from participation in SBA loan programs, the effects of bank failures, liquidations and mergers in our markets and nationally, our ability to successfully integrate and develop business through the addition of new personnel, whether our efforts to expand loan, product and service offerings will prove profitable, system failures and data security, whether we can effectively secure and implement new technology solutions, inflation, fluctuations in interest rates, legislation and governmental regulation. You should not place undue reliance on forward-looking statements, and we undertake no obligation to update those statements whether as a result of changes in underlying factors, new information, future events or otherwise. These factors could cause actual results to differ materially from what we anticipate or project. You should not place undue reliance on any such forward-looking statement, which speaks only as of the date on which it was made. Although we, in good faith, believe the assumptions and bases supporting our forward-looking statements to be reasonable there can be no assurance that those assumptions and bases will prove accurate.

The MIL Network –

May 14, 2025

MIL-OSI: Waldencast Reports Q1 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Q1 Net Revenue of $65.4 million, (4.1)% decline from Q1 2024
76.4% Adjusted Gross Margin, an improvement of 10 basis points
$4.4 million of Adjusted EBITDA

LONDON, May 13, 2025 (GLOBE NEWSWIRE) — Waldencast plc (NASDAQ: WALD) (“Waldencast” or the “Company”), a global multi-brand beauty and wellness platform, today reported operating results for the three months ended March 31, 2025 (“Q1 2025”) on Form 6-K to the U.S. Securities and Exchange Commission (the “SEC”), which are also available on our investor relations site at http://ir.waldencast.com/.

Michel Brousset, Waldencast Founder and CEO, said: “As anticipated, in Q1 2025, Milk Makeup results were impacted by the cycling of the very successful launch of Jellies in Q1 2024, as well as the significant inventory reduction at the retail level versus a year ago.”

“Despite a broader slowdown in the prestige beauty category in the U.S., Milk Makeup ended the quarter on a very strong note, fueled by the highly successful launch of Hydro Grip Gel Tint, which sold out shortly after release. We are also very pleased with the brand’s entry into Ulta Beauty, with retail sales beginning in late February. Both initiatives exceeded expectations and contributed to the brand’s high single-digit growth in U.S. retail sales. This solid domestic performance was offset by the contraction of international sales, which faced a difficult comparison against last year’s Q1 distribution expansion, as well as inventory reduction by retail partners. In Q1, Milk Makeup partnered with Nike Running in North America for the Nike After Dark Tour in Los Angeles, bringing sport and self-expression together to keep expanding reach and deepen community engagement.”

“The Obagi Medical brand delivered a solid performance in the first quarter, although out of stocks in some key SKUs dampened volume growth. We are accelerating ongoing efforts to transform our supply chain—consolidating third party logistics partners and enhancing operational capabilities—to improve fulfillment, increase reliability, and support long-term, scalable growth.”

“Despite a difficult quarter, we continue to increase our investments in marketing, up in the high teens, to fuel brand equity and set a strong foundation for delivering our long-term ambitions, starting with our 2025 objectives.”

“We are confident in our ability to deliver a stronger performance throughout the remainder of the year, beginning in Q2. Key drivers include a robust pipeline of breakthrough innovation at both Milk Makeup and Obagi Medical, combined with restocking of Hydro Grip Gel Tint which is expected to fuel continued consumer demand. We also anticipate a meaningful uplift in Milk Makeup volumes from the successful Ulta Beauty launch. Additionally, ongoing improvements from Obagi Medical’s supply chain restructuring are expected to enhance fulfillment rates and operational resilience,” concluded Mr. Brousset.

Q1 2025 Results Overview

Please refer to the definitions and reconciliations set out further in this release with respect to certain adjusted non-GAAP measures discussed below which are included to provide an easier understanding of the underlying performance of the business, but should not be seen as a substitute for the U.S. GAAP numbers presented in this release.

For the three months ended March 31, 2025 compared to the three months ended March 31, 2024:

Net Revenue decreased 4.1% year-over-year to $65.4 million.

Gross Profit was $47.2 million, while Adjusted Gross Profit totaled $50.0 million, or 76.4% of net revenue, an expansion of 10 basis points compared to the prior year.

Net Loss for Q1 2025 was $20.7 million primarily driven by Depreciation and Financial charges. Non-recurring legal and advisory expenses totaled $1.5 million, continuing their decline from prior quarter.

Adjusted EBITDA was $4.4 million, or 6.7% of net revenue. The year-over-year decline reflects sustained investments in sales and marketing, and G&A deleverage stemming from lower revenue.

Liquidity: As previously announced, during Q1, Waldencast secured a new $205 million five-year credit facility, comprising a $175 million term loan and a $30 million revolving credit facility (“RCF”). This refinancing replaces the previous bank loans, enhances financial flexibility, and extends the Company’s debt maturity profile to March 2030, supporting long-term strategic priorities.

As of March 31, 2025, the Company held $10.8 million in cash and cash equivalents, $172.1 million in net debt, and approximately $22.5 million in available capacity under the RCF. The increase in net debt during the quarter is primarily due to refinancing-related costs. Cash consumption reflects lower Adjusted EBITDA and an inventory build-up to support expected sales growth in future quarters.

Outstanding Shares: As of April 30, 2025, we had 123,011,239 ordinary shares outstanding, consisting of 112,644,711 Class A shares and 10,366,528 Class B shares. As of December 31, 2024, we had 122,692,968 ordinary shares outstanding, consisting of 112,026,440 Class A shares and 10,666,528 Class B shares.


(In $ millions, except for percentages)	Q1 2025	% Sales	% Growth	Q1 2024	% Sales
Waldencast
Net Revenue	65.4	100.0%	(4.1)%	68.3	100.0%
Adjusted Gross Profit	50.0	76.4%	(4.0)%	52.1	76.3%
Adjusted EBITDA	4.4	6.7%	(61.5)%	11.4	16.6%

Obagi Medical
Net Revenue	36.2	100.0%	7.1%	33.8	100.0%
Adjusted Gross Profit	29.7	82.0%	7.9%	27.5	81.4%
Adjusted EBITDA	5.9	16.3%	(12.5)%	6.7	20.0%

Milk Makeup
Net Revenue	29.3	100.0%	(15.1)%	34.5	100.0%
Adjusted Gross Profit	20.4	69.5%	(17.3)%	24.6	71.3%
Adjusted EBITDA	4.4	14.9%	(56.4)%	10.0	29.1%

First Quarter 2025 Brand Highlights:

Obagi Medical:

Net Revenue reached $36.2 million, up 7.1% from $33.8 million in Q1 2024.
Growth was fueled by continued strength in the direct-to-consumer channels. The benefits from transitioning to a first-party model with our primary e-commerce distributor have now fully annualized.
The Physician Dispense channel declined in the quarter, largely due to ongoing supply chain restructuring and temporary inventory constraints affecting key products, which limited sales during the quarter.
Adjusted Gross Margin of 82.0% increased 60 basis points from Q1 2024, supported by a favorable channel mix and lower promotional activity.
Adjusted EBITDA was $5.9 million, down 12.5% compared to Q1 2024. The Adjusted EBITDA margin declined by 370 basis points year-over-year to 16.3%, primarily due to higher marketing investments and increased supply chain costs aimed at supporting future growth.

Milk Makeup:

As anticipated, Milk Makeup’s Net Revenue declined in the quarter. Net Revenue was $29.3 million, down 15.1% versus $34.5 million in Q1 2024. This result was a combination of cycling a very successful launch of Jellies in Q1 2024 and a significant reduction of retail inventory levels quarter-over-quarter.
Sales momentum accelerated in March, driven by the successful strategic launch of Hydro Grip Gel Tint, which significantly exceeded expectations and led to out of stocks.
The brand also expanded into Ulta Beauty during the quarter, with strong initial sell-out contributing to high single-digit growth in U.S. retail sales.
Adjusted Gross Margin declined by 180 basis points versus Q1 2024, mostly impacted by set-up costs for new retailers.
Adjusted EBITDA was $4.4 million, with an Adjusted EBITDA margin of 14.9%. The margin contraction was primarily driven by increased marketing investments and G&A deleverage resulting from lower sales.

Fiscal 2025 Outlook:

While mindful of the broader macroeconomic environment and assuming no further material changes to current tariffs, including the latest updates on China, we remain confident that our strategic initiatives position us well to deliver on our full-year guidance of mid-teens net revenue growth and an adjusted EBITDA margin in the mid-to-high teens.

Given our high gross margin business model and limited reliance on Asian sourcing, we expect a limited increase in cost of goods with any necessary price adjustments (likely in the low-to-mid single digits) to offset the announced tariff scenario.

Conference Call and Webcast Information

Waldencast will host a conference call to discuss its first quarter results on Wednesday, May 14, 2025, at 8:30 AM EDT for the period ended March 31, 2025. Those interested in participating in the conference call are invited to dial (877) 704-4453. International callers may dial (201) 389-0920. A live webcast of the conference call will include a slide presentation and will be available online at https://ir.waldencast.com/. A replay of the webcast will remain available on the website until our next conference call. The information accessible on, or through, our website is not incorporated by reference into this release.

Non-GAAP Financial Measures

In addition to the financial measures presented in this release in accordance with U.S. GAAP, Waldencast separately reports financial results on the basis of the measures set out and defined below which are non-GAAP financial measures. Waldencast believes the non-GAAP measures used in this release provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. Waldencast believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures also provide perspective on how Waldencast’s management evaluates and monitors the performance of the business.

There are limitations to non-GAAP financial measures because they exclude charges and credits that are required to be included in GAAP financial presentation. The items excluded from GAAP financial measures such as net income/loss to arrive at non-GAAP financial measures are significant components for understanding and assessing our financial performance. Non-GAAP financial measures should be considered together with, and not alternatives to, financial measures prepared in accordance with GAAP.

Please refer to definitions set out in the release and the tables included in this release for a reconciliation of these metrics to the most directly comparable GAAP financial measures.

Adjusted Gross Profit is defined as GAAP gross profit excluding the impact of amortization of the supply agreement and formulation intangible assets, and the amortization of the fair value of the related party liability from the Obagi Medical China Business, which was not acquired by Waldencast at the time of the business combination with Obagi Medical and Milk Makeup (the “Business Combination”). The Adjusted Gross Profit reconciliation by Segment for each period is included in the Appendix.

Adjusted Gross Margin is defined as Adjusted Gross Profit divided by GAAP Net Revenue.

Adjusted EBITDA is defined as GAAP net income (loss) before interest income or expense, income tax (benefit) expense, depreciation and amortization, and further adjusted for the items as described in the reconciliation below. We believe this information will be useful for investors to facilitate comparisons of our operating performance and better identify trends in our business. Adjusted EBITDA excludes certain expenses that are required to be presented in accordance with GAAP because management believes they are non-core to our regular business. These include non-cash expenses, such as depreciation and amortization, stock-based compensation, the amortization and release of fair value of the related party liability to the Obagi Medical China Business, change in fair value of assets and liabilities, and foreign currency translation loss (gain). In addition, adjustments include expenses that are not related to our underlying business performance including (1) legal, advisory and consultant fees related to the financial restatement of previously issued financial statements and associated regulatory investigation, and (2) other non-recurring costs, primarily legal settlement costs and restructuring costs. The Adjusted EBITDA by Segment for each period is included in the Appendix.

Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of net revenue. The Adjusted EBITDA Margin reconciliation by Segment for each period is included in the Appendix.


(In thousands, except for percentages)	Three Months Ended March 31, 2025			Three Months Ended March 31, 2024
Net Loss	$	(20,735	)	$	(3,894	)
Adjusted For:
Depreciation and amortization		14,998			14,884
Interest expense, net		6,384			4,293
Income tax expense (benefit)		1,398			(685	)
Stock-based compensation expense		2,368			1,059
Legal and advisory non-recurring costs⁽¹⁾		1,474			7,924
Change in fair value of assets and liabilities		(1,167	)		(12,160	)
Amortization and release of related party liability⁽²⁾		—			(316	)
Other costs⁽³⁾		(353	)		246
Adjusted EBITDA	$	4,366		$	11,351
Net Revenue	$	65,442		$	68,272
Net Loss % of Net Revenue	(31.7		)%	(5.7		)%
Adjusted EBITDA Margin		6.7	%		16.6	%

⁽¹⁾		Includes mainly legal, advisory and consultant fees related to the financial restatement of the 2020-2022 periods and associated regulatory investigation, and the Business Combination.
⁽²⁾		Relates to the fair value of the related party liability for the unfavorable discount to the Obagi Medical China Business as part of the Business Combination.
⁽³⁾		Other costs include legal settlements, foreign currency translation losses and (gains), and restructuring costs.

Net Debt Position is defined as the principal outstanding for the 2022 term loan and 2022 revolving credit facility minus the cash and cash equivalents as of March 31, 2025.


(In thousands)	Reconciliation of Net Carrying Amount of debt to Net Debt
Current portion of long-term debt	$	7,740
Long-term debt		164,694
Net carrying amount of debt		172,434
Adjustments:
Add: Unamortized debt issuance costs		10,401
Less: Cash & cash equivalents		(10,782	)
Net Debt	$	172,053

About Waldencast plc

Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the Business Combination. As part of the Waldencast platform, its brands will benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com.

Obagi Medical is an industry-leading, advanced skin care line rooted in research and skin biology, refined with a legacy of over 35 years’ experience. First known as leaders in the treatment of hyperpigmentation with the Obagi Nu-Derm^® System, Obagi Medical products are designed to address the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage. More information about Obagi Medical is available on the brand’s website at www.obagi.com.

Founded in 2016, Milk Makeup quickly became a cult-favorite among the beauty community for its values of self-expression and inclusion, captured by its signature “Live Your Look”, its innovative formulas, and clean ingredients. The brand creates vegan, cruelty-free, clean formulas and has its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup offers over 250 products through its U.S. website www.MilkMakeup.com, and retail partners including Sephora globally, Ulta Beauty in the U.S., Lyko in Scandinavia, Space NK and Boots in the United Kingdom and many more.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this release that are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about: Waldencast’s outlook and guidance for 2025; our ability to deliver financial results in line with expectations; expectations regarding sales, earnings or other future financial performance and liquidity or other performance measures; our long-term strategy and future operations or operating results; expectations with respect to our industry and the markets in which it operates; future product introductions; developments relating to the ongoing investigation and legal proceedings; and any assumptions underlying any of the foregoing. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements.

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including, among others: (i) the impact of the material weaknesses in our internal control over financial reporting, including associated investigations, our efforts to remediate such material weakness and the timing of remediation and resolution of associated investigations; (ii) our ability to recognize the anticipated benefits from any acquired business, including the Business Combination; (iii) our ability to successfully implement our management’s plans and strategies; (iv) the overall economic and market conditions, sales forecasts and other information about our possible or assumed future results of operations or our performance; (v) the general impact of geopolitical events, including the impact of current wars, conflicts or other hostilities; (vi) the potential for delisting, legal proceedings or existing or new government investigation or enforcement actions, including those relating to the restatement or the subject of the Audit Committee of our Board of Directors’ review further described in our annual report filed on Form 20-F for the year ended December 31, 2022; (vii) our ability to manage expenses, our liquidity and our investments in working capital; (viii) any failure to obtain governmental and regulatory approvals related to our business and products; (ix) the impact of any international trade or foreign exchange restrictions, increased tariffs, foreign currency exchange fluctuations; (x) our ability to raise additional capital or complete desired acquisitions; (xi) our ability to comply with financial covenants imposed by the new 2025 credit agreement we entered into referenced in the section entitled “Liquidity” above and the impact of debt service obligations and restricted debt covenants; (xii) volatility of Waldencast’s securities due to a variety of factors, including Waldencast’s inability to implement its business plans or meet or exceed its financial projections and changes; (xiii) the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; (xiv) the ability of Waldencast to implement its strategic initiatives and continue to innovate Obagi Medical’s and Milk Makeup’s existing products and anticipate and respond to market trends and changes in consumer preferences; (xv) any shifts in the preferences of consumers as to where and how they shop; (xvi) the impact of any unfavorable publicity on our business or products; (xvii) changes in future exchange or interest rates or credit ratings; (xviii) changes in, and uncertainty with respect to, laws, regulations, and policies, including as a result of the change in the U.S. administration; and (xix) social, political and economic conditions. These and other risks, assumptions and uncertainties are more fully described in the Risk Factors section of our 2024 20-F (File No. 01-40207), filed with the SEC on March 20, 2025, and in our other documents that we file or furnish with the SEC, which you are encouraged to read.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to rely on these forward-looking statements, which speak only as of the date they are made. Waldencast expressly disclaims any current intention, and assumes no duty, to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

Contacts:

Investors
ICR
Allison Malkin
waldencastir@icrinc.com

Media
ICR
Brittney Fraser/Alecia Pulman
waldencast@icrinc.com

Appendix

Adjusted Gross Profit


	Group
(In thousands, except for percentages)	Three months ended March 31, 2025			Three months ended March 31, 2024
Net Revenue	$	65,442		$	68,271
Gross Profit		47,205			49,580
Gross Profit Margin		72.1	%		72.6	%
Gross Margin Adjustments:
Amortization of the fair value of the related party liability⁽¹⁾		—			(316	)
Amortization impact of intangible assets⁽²⁾		2,801			2,801
Adjusted Gross Profit	$	50,006		$	52,065
Adjusted Gross Margin %		76.4	%		76.3	%

⁽¹⁾		Relates to the fair value of the related party liability for the unfavorable discount to the Obagi Medical China Business as part of the Business Combination.
⁽²⁾		The supply agreement and formulations intangible assets are amortized to cost of goods sold.

	Obagi Medical						Milk Makeup
(In thousands, except for percentages)	Three months ended March 31, 2025			Three months ended March 31, 2024			Three months ended March 31, 2025			Three months ended March 31, 2024
Net Revenue	$	36,166		$	33,768		$	29,276		$	34,503
Gross Profit		26,851			24,989			20,354			24,597
Gross Profit Margin		74.2	%		74.0	%		69.5	%		71.3	%
Gross Margin Adjustments:
Amortization of the fair value of the related party liability		—			(316	)		—			—
Amortization impact of intangible assets		2,801			2,801			—			—
Adjusted Gross Profit	$	29,652		$	27,474		$	20,354		$	24,597
Adjusted Gross Margin %		82.0	%		81.4	%		69.5	%		71.3	%

Adjusted EBITDA Margin by Segment

	Obagi Medical						Milk Makeup
(In thousands, except for percentages)	Three months ended March 31, 2025			Three months ended March 31, 2024			Three months ended March 31, 2025			Three months ended March 31, 2024
Net Loss	$	(9,056	)	$	(5,761	)	$	(1,004	)	$	5,340
Adjusted For:
Depreciation and amortization		10,420			10,395			4,578			4,489
Interest expense (income), net		3,385			3,187			(3	)		(55	)
Income tax expense (benefit)		1,369			(687	)		25			—
Stock-based compensation expense		(526	)		(781	)		568			357
Legal and advisory non-recurring costs		189			467			—			—
Change in fair value of assets and liabilities		14			—			—			—
Amortization and release of related party liability		—			(316	)		—			—
Other costs		104			239			206			(105	)
Adjusted EBITDA	$	5,900		$	6,743		$	4,370		$	10,026
Net Revenue	$	36,166		$	33,768		$	29,276		$	34,503
Net Loss % of Net Revenue	(25.0		)%	(17.1		)%	(3.4		)%		15.5	%
Adjusted EBITDA Margin		16.3	%		20.0	%		14.9	%		29.1	%

	Central costs
(In thousands, except for percentages)	Three months ended March 31, 2025			Three months ended March 31, 2024
Net Loss	$	(10,676	)	$	(3,472	)
Adjusted For:
Interest expense, net		3,002			1,160
Income tax expense		3			2
Stock-based compensation expense		2,326			1,482
Legal and advisory non-recurring costs		1,285			7,457
Change in fair value of assets and liabilities		(1,181	)		(12,160	)
Other costs		(664	)		112
Adjusted EBITDA	$	(5,904	)	$	(5,419	)
Net Revenue	$	—		$	—
Net Loss % of Net Revenue	N/A			N/A
Adjusted EBITDA Margin	N/A			N/A

The MIL Network –

May 14, 2025

MIL-OSI: Evolution Petroleum Reports Fiscal Third Quarter 2025 Results and Declares Quarterly Cash Dividend for Fiscal Fourth Quarter

Source: GlobeNewswire (MIL-OSI)

HOUSTON, Texas, May 13, 2025 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) (“Evolution” or the “Company”) today announced its financial and operating results for its fiscal third quarter ended March 31, 2025. Evolution also declared its 47^th consecutive quarterly cash dividend of $0.12 per common share for the fiscal 2025 fourth quarter.

Financial & Operational Highlights

($ in thousands)	Q3 2025			Q2 2025			Q3 2024		% Change vs Q3/Q2		% Change vs Q3/Q3		2025 YTD			2024 YTD		% Change vs YTD’24
Average BOEPD	6,667			6,935				7,209	(4	)%	(8	)%	7,033				6,651		6	%
Revenues	$	22,561		$	20,275		$	23,025	11	%	(2	)%	$	64,732		$	64,650		—	%
Net Income (Loss) ⁽¹⁾	$	(2,179	)	$	(1,825	)	$	289	NM		NM		$	(1,939	)	$	2,845		NM
Adjusted Net Income (Loss) ⁽¹⁾⁽²⁾	$	806		$	(841	)	$	978	NM		(18	)%	$	701		$	3,597		(81	)%
Adjusted EBITDA⁽³⁾	$	7,421		$	5,688		$	8,476	30	%	(12	)%	$	21,234		$	22,011		(4	)%

_____________________

⁽¹⁾	^{“NM” means “Not Meaningful.”}
⁽²⁾	^{Adjusted Net Income is a non-GAAP financial measure; see the non-GAAP reconciliation schedules to the most comparable GAAP measures at the end of this release for more information.}
⁽³⁾	^{Adjusted EBITDA is Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization and is a non-GAAP financial measure; see the non-GAAP reconciliation schedules to the most comparable GAAP measures at the end of this release for more information.}

Fiscal Q3 production was 6,667 average barrels of oil equivalent per day (“BOEPD”), with oil accounting for 52% of revenue, natural gas accounting for 35%, and natural gas liquids (“NGLs”) accounting for 13% of revenue during the quarter.
Amid market volatility in fiscal Q3, the Company benefited from its diversified energy portfolio, as reflected by a 30% increase in Adjusted EBITDA⁽³⁾ versus fiscal Q2.
Fiscal Q3 revenue rose 11% versus Fiscal Q2, largely driven by the strength of natural gas revenue, which increased 34% during the quarter.
$4.1 million returned to shareholders in the form of cash dividends during fiscal Q3, and $4.0 million of principal repaid on its Senior Secured Credit Facility.
Activities subsequent to quarter end:
- Four gross new wells were brought online at the Chaveroo Field under budget, with early production rates exceeding expectations.
- Closed the highly accretive $9.0 million acquisition of non-operated oil and natural gas assets located in New Mexico, Texas, and Louisiana (the “TexMex” acquisition).
- As of today, production adds from the four new gross Chaveroo wells and TexMex are contributing more than 850 net BOEPD to production.

Kelly Loyd, President and Chief Executive Officer, commented: “We are maintaining our quarterly dividend at $0.12 per share for the twelfth consecutive quarter, underscoring our commitment to sustainable shareholder returns as well as our confidence in the strength of our asset base, even in a volatile commodity price environment.

“Our third quarter results reflect the benefits of our balanced, long-life portfolio of producing assets that are capable of both flourishing in attractive price environments and withstanding cyclical lows. Despite weather and maintenance-related downtime, which affected production, we were able to more than meet all of our capital obligations during the quarter, including ~$8.5 million in dividend and capex payments, as well as repayment of $4.0 million of principal on our Senior Secured Credit Facility.

“Subsequent to quarter end, we closed the TexMex acquisition and turned in-line our latest four Chaveroo wells. TexMex and the four new gross Chaveroo wells are currently contributing more than 850 net BOEPD to production. We also expect to benefit from recent and ongoing drilling activities in our SCOOP/STACK area. When combined with the strength in natural gas prices, these production additions are expected to meaningfully benefit our next fiscal quarter.

Mr. Loyd concluded, “In coordination with our Chaveroo partner, we have agreed to delay the start of our third development block until later into our fiscal year 2026. Our current focus is on acquiring oil-weighted, low-decline producing properties at discounted prices, or natural gas properties which can be hedged favorably for years to come, while strategically deferring development of our high-value, oil-weighted locations, preserving value for our shareholders until oil market conditions improve. Maintaining our dividend is a top priority, and we believe our resilient portfolio and strong financial position will enable us to continue with our dividend program well into the future.”

Fiscal Third Quarter 2025 Financial Results

Total revenues decreased 2% to $22.6 million compared to $23.0 million in the year-ago quarter. The decline was driven primarily by an 8% decrease in production volumes, partially offset by a 7% increase in average realized commodity prices. The decrease in production volumes was primarily due to planned maintenance at the central facility and NGL plant downtime at Delhi Field, January winter weather impacts at Barnett Shale, as well as natural production declines, partially offset by additional production from the Company’s SCOOP/STACK properties acquired in February 2024.

Lease operating costs (“LOE”) increased to $13.4 million compared to $12.6 million in the year-ago quarter. The increase was driven by CO₂ purchases at Delhi Field, which resumed in October 2024 after being suspended in February 2024, coupled with a full quarter of the Company’s SCOOP/STACK properties acquired in February 2024, increasing lease operating costs by $0.5 million compared to the year-ago quarter. On a per unit basis, total LOE increased 16% to $22.32 per BOE compared to $19.24 per BOE in the year-ago quarter.

Depletion, depreciation, and accretion expense was $5.0 million compared to $5.9 million in the year-ago period. On a per BOE basis, the Company’s current quarter depletion rate decreased to $7.68 per BOE compared to $8.43 per BOE in the year-ago period due to a decrease in its depletable base.

General and administrative (“G&A”) expenses, excluding stock-based compensation, were $1.9 million for both the current and year-ago periods. On a per BOE basis, G&A expenses increased to $3.22 compared to $2.85 in the year-ago period. The increase per unit is the result of decreased production in the current period.

The Company reported a net loss of $2.2 million or $(0.07) per share, compared to net income of $0.3 million or $0.01 per share in the year-ago period. Excluding the impact of unrealized losses, adjusted net income was $0.8 million or $0.02 per diluted share, compared to adjusted net income of $1.0 million or $0.03 per diluted share in the prior quarter.

Adjusted EBITDA was $7.4 million compared to $8.5 million in the year-ago period. The decrease was primarily due to decreased revenue as a result of lower production and higher total operating costs due to CO₂ purchases at Delhi Field, which resumed in October 2024 after being suspended in February 2024.

Production & Pricing

Average price per unit:	Q3 2025		Q3 2024		% Change vs Q3/Q3
Crude oil (BBL)	$	68.42	$	73.06		(6)	%
Natural gas (MCF)		3.87		2.77		40	%
Natural Gas Liquids (BBL)		32.28		25.26		28	%
Equivalent (BOE)		37.60		35.10		7	%

Total production for the third quarter of fiscal 2025 decreased 7.5% to 6,667 net BOEPD compared to 7,209 net BOEPD in the year-ago period. Total production for the third quarter of fiscal 2025 included 1,911 barrels per day (“BOPD”) of crude oil, 3,723 BOEPD of natural gas, and 1,033 BOEPD of NGLs. The decrease in total production was driven by planned maintenance at the central facility and NGL plant downtime at Delhi Field, January winter weather impacts at Barnett Shale, as well as natural production declines partially offset by additional production from the Company’s SCOOP/STACK properties acquired in February 2024. Total oil and natural gas liquids production generated 65% of revenue for the quarter compared to 75% in the year-ago period.

The Company’s average realized commodity price (excluding the impact of derivative contracts) increased 7% to $37.60 per BOE, compared to $35.10 per BOE in the year-ago period. These increases were primarily driven by an increase of approximately 40% in realized natural gas prices year over year.

Operations Update

At SCOOP/STACK, the Company brought online 13 gross wells fiscal year-to-date, with an additional five wells in progress.

At Chaveroo, the Company successfully completed and brought online four new gross wells in the second development block. These wells were completed on schedule and under budget. Although very early in the productive life of the wells, production rates are significantly exceeding expectations.

In the Williston Basin, oil production was up quarter over quarter as a result of deferred oil sales at the end of Q2 to Q3. Gas and NGLs increased quarter over quarter, benefiting from a full quarter of gas sales. The Williston field continues to generate solid returns.

At Delhi, production was temporarily affected by planned maintenance at the Delhi Central Facility, which resulted in a shutdown of the entire field for a few days and at the NGL Plant for approximately two weeks. At the end of the quarter, the decision was made to switch from purchasing CO₂ volumes to additional water injection. The operator will continue to inject approximately 300 MMCFPD of recycled CO₂. The Company and the operator believe this will be the most economical way to run the field and will significantly reduce operating costs while maximizing cash flow.

Jonah remained steady, with a temporary dip in volumes during February due to the impact of winter weather. However, strong winter natural gas pricing contributed positively to overall cash flow for the quarter.

Barnett Shale delivered consistent cash-flow generation, reflecting its reliability and operational stability. Despite brief downtime in January due to winter storms, production remained steady overall, with improved realized pricing for natural gas and NGLs serving as a tailwind for financial results. These favorable pricing dynamics helped offset broader commodity price weakness and underscore Barnett’s continued role as a valuable contributor to our diversified portfolio.

Balance Sheet, Liquidity, and Capital Spending

On March 31, 2025, cash and cash equivalents totaled $5.6 million, with a working capital deficit of $2.7 million primarily due to unrealized losses on current derivative contracts, which vary quarter-to-quarter based on forecasted commodity prices at the end of each quarter. Evolution had $35.5 million of borrowings outstanding under its revolving credit facility and total liquidity of $20.1 million, including cash and cash equivalents. In Fiscal Q3, Evolution paid $4.1 million in common stock dividends, $4.0 million in repayments of borrowings of its Senior Secured Credit Facility, $1.8 million in deposits for its TexMex Acquisition, and $4.4 million in capital expenditures. During the quarter ended March 31, 2025, the Company sold a total of approximately 0.2 million shares of its common stock under its At-the-Market Sales Agreement for net proceeds of approximately $1.1 million, after deducting less than $0.1 million in offering costs.

The Company has received approval from its lender, MidFirst Bank, to extend the maturity of the existing Senior Secured Credit Facility to April 2028 and increase their total commitments from $50.0 million to $55.0 million. Also, the Company expects to receive $10.0 million in additional commitments from a new lender, Prism Bank, bringing the total commitments to $65.0 million.

Cash Dividend on Common Stock

On May 12, 2025, Evolution’s Board of Directors declared a cash dividend of $0.12 per share of common stock, which will be paid on June 30, 2025, to common stockholders of record on June 13, 2025. This will be the 47^th consecutive quarterly cash dividend on the Company’s common stock since December 31, 2013. To date, Evolution has returned approximately $130.7 million, or $3.93 per share, back to stockholders in common stock dividends.

Conference Call

As previously announced, Evolution Petroleum will host a conference call on Wednesday, May 14, 2025, at 10:00 a.m. CT to review its fiscal third quarter 2025 financial and operating results. Participants can join online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=ASNQRrWs or by dialing (844) 481-2813. Dial-in participants should ask to join the Evolution Petroleum Corporation call. A replay will be available through May 14, 2026, via the webcast link provided and on Evolution’s Investor Relations website at www.ir.evolutionpetroleum.com.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Visit www.evolutionpetroleum.com for more information.

Cautionary Statement

All forward-looking statements contained in this press release regarding the Company’s current and future expectations, potential results, and plans and objectives involve a wide range of risks and uncertainties. Statements herein using words such as “believe,” “expect,” “may,” “plans,” “outlook,” “should,” “will,” and words of similar meaning are forward-looking statements. Although the Company’s expectations are based on business, engineering, geological, financial, and operating assumptions that it believes to be reasonable, many factors could cause actual results to differ materially from its expectations. The Company gives no assurance that its goals will be achieved. These factors and others are detailed under the heading “Risk Factors” and elsewhere in our periodic reports filed with the Securities and Exchange Commission (“SEC”). The Company undertakes no obligation to update any forward-looking statement.

Contact
Investor Relations
(713) 935-0122
ir@evolutionpetroleum.com


Evolution Petroleum Corporation Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts)

	Three Months Ended									Nine Months Ended
	March 31,						December 31,			March 31,
	2025			2024			2024			2025			2024
Revenues
Crude oil	$	11,769		$	14,538		$	11,763		$	38,269		$	38,913
Natural gas		7,790			5,860			5,793			17,868			17,943
Natural gas liquids		3,002			2,627			2,719			8,595			7,794
Total revenues		22,561			23,025			20,275			64,732			64,650
Operating costs
Lease operating costs		13,388			12,624			12,793			37,971			36,865
Depletion, depreciation, and accretion		5,014			5,900			5,433			16,172			14,760
General and administrative expenses		2,573			2,417			2,654			7,754			7,522
Total operating costs		20,975			20,941			20,880			61,897			59,147
Income (loss) from operations		1,586			2,084			(605	)		2,835			5,503
Other income (expense)
Net gain (loss) on derivative contracts		(3,802	)		(1,183	)		(1,219	)		(3,223	)		(1,183	)
Interest and other income		55			63			52			164			283
Interest expense		(705	)		(518	)		(764	)		(2,292	)		(584	)
Income (loss) before income taxes		(2,866	)		446			(2,536	)		(2,516	)		4,019
Income tax (expense) benefit		687			(157	)		711			577			(1,174	)
Net income (loss)	$	(2,179	)	$	289		$	(1,825	)	$	(1,939	)	$	2,845
Net income (loss) per common share:
Basic	$	(0.07	)	$	0.01		$	(0.06	)	$	(0.07	)	$	0.09
Diluted	$	(0.07	)	$	0.01		$	(0.06	)	$	(0.07	)	$	0.08
Weighted average number of common shares outstanding:
Basic		33,433			32,702			32,934			33,027			32,692
Diluted		33,433			32,854			32,934			33,027			32,920

Evolution Petroleum Corporation Condensed Consolidated Balance Sheets (Unaudited) (In thousands, except share and per share amounts)

	March 31, 2025		June 30, 2024
Assets
Current assets
Cash and cash equivalents	$	5,601	$	6,446
Receivables from crude oil, natural gas, and natural gas liquids revenues		10,707		10,826
Derivative contract assets		828		596
Prepaid expenses and other current assets		2,658		3,855
Total current assets		19,794		21,723
Property and equipment, net of depletion, depreciation, and impairment
Oil and natural gas properties, net, full-cost method of accounting, of which none were excluded from amortization		133,514		139,685

Other noncurrent assets
Derivative contract assets		48		171
Other assets		3,038		1,298
Total assets	$	156,394	$	162,877
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$	11,977	$	8,308
Accrued liabilities and other		7,092		6,239
Derivative contract liabilities		3,453		1,192
State and federal taxes payable		—		74
Total current liabilities		22,522		15,813
Long term liabilities
Senior secured credit facility		35,500		39,500
Deferred income taxes		4,572		6,702
Asset retirement obligations		20,398		19,209
Derivative contract liabilities		1,742		468
Operating lease liability		—		58
Total liabilities		84,734		81,750
Commitments and contingencies
Stockholders’ equity
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 34,284,369 and 33,339,535 shares as of March 31, 2025 and June 30, 2024, respectively		34		33
Additional paid-in capital		45,786		41,091
Retained earnings		25,840		40,003
Total stockholders’ equity		71,660		81,127
Total liabilities and stockholders’ equity	$	156,394	$	162,877

Evolution Petroleum Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In thousands)

	Three Months Ended									Nine Months Ended
	March 31,						December 31,			March 31,
	2025			2024			2024			2025			2024
Cash flows from operating activities:
Net income (loss)	$	(2,179	)	$	289		$	(1,825	)	$	(1,939	)	$	2,845
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depletion, depreciation, and accretion		5,014			5,900			5,433			16,172			14,760
Stock-based compensation		642			549			659			1,860			1,585
Settlement of asset retirement obligations		(66	)		(19	)		(182	)		(346	)		(19	)
Deferred income taxes		(2,101	)		766			252			(2,130	)		124
Unrealized (gain) loss on derivative contracts		3,926			1,063			1,368			3,426			1,063
Accrued settlements on derivative contracts		(57	)		94			9			(114	)		94
Other		(4	)		(3	)		(1	)		(7	)		—
Changes in operating assets and liabilities:
Receivables from crude oil, natural gas, and natural gas liquids revenues		(26	)		(2,495	)		29			(34	)		(4,734	)
Prepaid expenses and other current assets		965			(1,151	)		(1,494	)		1,400			(1,425	)
Accounts payable, accrued liabilities, and other		1,149			(1,629	)		3,471			4,382			814
State and federal taxes payable		—			—			—			(74	)		(365	)
Net cash provided by operating activities		7,263			3,364			7,719			22,596			14,742
Cash flows from investing activities:
Acquisition deposits		(1,800	)		—			—			(1,800	)		—
Acquisition of oil and natural gas properties		(20	)		(43,788	)		(69	)		(351	)		(43,788	)
Capital expenditures for oil and natural gas properties		(4,404	)		(2,648	)		(758	)		(7,902	)		(8,353	)
Net cash used in investing activities		(6,224	)		(46,436	)		(827	)		(10,053	)		(52,141	)
Cash flows from financing activities:
Common stock dividends paid		(4,109	)		(4,003	)		(4,082	)		(12,224	)		(12,037	)
Common stock repurchases, including stock surrendered for tax withholding		(71	)		(818	)		(103	)		(262	)		(1,031	)
Borrowings under senior secured credit facility		—			42,500			—			—			42,500
Repayments of senior secured credit facility		(4,000	)		—			—			(4,000	)		—
Issuance of common stock		1,145			—			2,259			3,404			—
Offering costs		(70	)		—			(236	)		(306	)		—
Net cash provided by (used in) financing activities		(7,105	)		37,679			(2,162	)		(13,388	)		29,432
Net increase (decrease) in cash and cash equivalents		(6,066	)		(5,393	)		4,730			(845	)		(7,967	)
Cash and cash equivalents, beginning of period		11,667			8,460			6,937			6,446			11,034
Cash and cash equivalents, end of period	$	5,601		$	3,067		$	11,667		$	5,601		$	3,067

Evolution Petroleum Corporation

Non-GAAP Reconciliation – Adjusted EBITDA (Unaudited)

(In thousands)

Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items are non-GAAP financial measures that are used as supplemental financial measures by our management and by external users of our financial statements, such as investors, commercial banks, and others, to assess our operating performance as compared to that of other companies in our industry, without regard to financing methods, capital structure, or historical costs basis. We use these measures to assess our ability to incur and service debt and fund capital expenditures. Our Adjusted EBITDA and Net income (loss) and earnings per share, excluding selected items, should not be considered alternatives to net income (loss), operating income (loss), cash flows provided by (used in) operating activities, or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Our Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items in the same manner.

We define Adjusted EBITDA as net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion, and accretion (DD&A), stock-based compensation, ceiling test impairment, and other impairments, unrealized loss (gain) on change in fair value of derivatives, and other non-recurring or non-cash expense (income) items.


	Three Months Ended								Nine Months Ended
	March 31,					December 31,			March 31,
	2025			2024		2024			2025			2024
Net income (loss)	$	(2,179	)	$	289	$	(1,825	)	$	(1,939	)	$	2,845
Adjusted by:
Interest expense		705			518		764			2,292			584
Income tax expense (benefit)		(687	)		157		(711	)		(577	)		1,174
Depletion, depreciation, and accretion		5,014			5,900		5,433			16,172			14,760
Stock-based compensation		642			549		659			1,860			1,585
Unrealized loss (gain) on derivative contracts		3,926			1,063		1,368			3,426			1,063
Adjusted EBITDA	$	7,421		$	8,476	$	5,688		$	21,234		$	22,011

Evolution Petroleum Corporation Non-GAAP Reconciliation – Adjusted Net Income (Unaudited) (In thousands, except per share amounts)

	Three Months Ended									Nine Months Ended
	March 31,						December 31,			March 31,
	2025			2024			2024			2025			2024
As Reported:
Net income (loss), as reported	$	(2,179	)	$	289		$	(1,825	)	$	(1,939	)	$	2,845

Impact of Selected Items:
Unrealized loss (gain) on commodity contracts		3,926			1,063			1,368			3,426			1,063
Selected items, before income taxes	$	3,926		$	1,063		$	1,368		$	3,426		$	1,063
Income tax effect of selected items⁽¹⁾		941			374			384			786			311
Selected items, net of tax	$	2,985		$	689		$	984		$	2,640		$	752

As Adjusted:
Net income (loss), excluding selected items⁽²⁾	$	806		$	978		$	(841	)	$	701		$	3,597

Undistributed earnings allocated to unvested restricted stock		(96	)		(21	)		(100	)		(274	)		(73	)
Net income (loss), excluding selected items for earnings per share calculation	$	710		$	957		$	(941	)	$	427		$	3,524

Net income (loss) per common share — Basic, as reported	$	(0.07	)	$	0.01		$	(0.06	)	$	(0.07	)	$	0.09
Impact of selected items		0.09			0.02			0.03			0.08			0.02
Net income (loss) per common share — Basic, excluding selected items⁽²⁾	$	0.02		$	0.03		$	(0.03	)	$	0.01		$	0.11


Net income (loss) per common share — Diluted, as reported	$	(0.07	)	$	0.01		$	(0.06	)	$	(0.07	)	$	0.08
Impact of selected items		0.09			0.02			0.03			0.08			0.03
Net income (loss) per common share — Diluted, excluding selected items⁽²⁾⁽³⁾	$	0.02		$	0.03		$	(0.03	)	$	0.01		$	0.11

_____________________

⁽¹⁾	^{The tax impact for the three months ended March 31, 2025 and 2024, is represented using estimated tax rates of 24.0% and 35.2%, respectively. The tax impact for the three months ended December 31, 2024, is represented using estimated tax rates of 28.0%. The tax impact for the nine months ended March 31, 2025 and 2024 is represented using estimated tax rates of 22.9% and 29.2%, respectively.}
⁽²⁾	^{Net income (loss) and earnings per share excluding selected items are non-GAAP financial measures presented as supplemental financial measures to enable a user of the financial information to understand the impact of these items on reported results. These financial measures should not be considered an alternative to net income (loss), operating income (loss), cash flows provided by (used in) operating activities, or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Our Adjusted Net Income (Loss) and earnings per share may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted Net Income (Loss) and earnings per share in the same manner.}
⁽³⁾	^{The impact of selected items for the three months ended March 31, 2025, and 2024, were each calculated based upon weighted average diluted shares of 33.6 million and 32.9 million, respectively, due to the net income (loss), excluding selected items. The impact of selected items for the three months ended December 31, 2024, was calculated based upon weighted average diluted shares of 32.9 million due to the net income (loss), excluding selected items. The impact of selected items for the nine months ended March 31, 2025, and 2024, was each calculated based upon weighted average diluted shares of 33.2 million and 32.9 million, respectively, due to the net income (loss), excluding selected items.}

Evolution Petroleum Corporation Supplemental Information on Oil and Natural Gas Operations (Unaudited) (In thousands, except per unit and per BOE amounts)

	Three Months Ended						Nine Months Ended
	March 31,				December 31,		March 31,
	2025		2024		2024		2025		2024
Revenues:
Crude oil	$	11,769	$	14,538	$	11,763	$	38,269	$	38,913
Natural gas		7,790		5,860		5,793		17,868		17,943
Natural gas liquids		3,002		2,627		2,719		8,595		7,794
Total revenues	$	22,561	$	23,025	$	20,275	$	64,732	$	64,650

Lease operating costs:
Ad valorem and production taxes	$	1,473	$	1,459	$	1,441	$	4,328	$	4,009
Gathering, transportation, and other costs		2,913		2,527		2,889		8,592		6,926
Other lease operating costs		9,002		8,638		8,463		25,051		25,930
Total lease operating costs	$	13,388	$	12,624	$	12,793	$	37,971	$	36,865

Depletion of full cost proved oil and natural gas properties	$	4,607	$	5,532	$	5,024	$	14,956	$	13,680

Production:
Crude oil (MBBL)		172		199		179		555		519
Natural gas (MMCF)		2,011		2,115		2,125		6,364		6,091
Natural gas liquids (MBBL)		93		104		105		311		295
Equivalent (MBOE)⁽¹⁾		600		656		638		1,927		1,829
Average daily production (BOEPD)⁽¹⁾		6,667		7,209		6,935		7,033		6,651

Crude oil (BBL)	$	68.42	$	73.06	$	65.72	$	68.95	$	74.98
Natural gas (MCF)		3.87		2.77		2.73		2.81		2.95
Natural Gas Liquids (BBL)		32.28		25.26		25.90		27.64		26.42
Equivalent (BOE)⁽¹⁾	$	37.60	$	35.10	$	31.78	$	33.59	$	35.35

Average cost per unit:
Ad valorem and production taxes	$	2.46	$	2.22	$	2.26	$	2.25	$	2.19
Gathering, transportation, and other costs		4.86		3.85		4.53		4.46		3.79
Other lease operating costs		15.00		13.17		13.26		13.00		14.18
Total lease operating costs	$	22.32	$	19.24	$	20.05	$	19.71	$	20.16

Depletion of full cost proved oil and natural gas properties	$	7.68	$	8.43	$	7.87	$	7.76	$	7.48

_____________________

⁽¹⁾	^{Equivalent oil reserves are defined as six MCF of natural gas and 42 gallons of NGLs to one barrel of oil conversion ratio, which reflects energy equivalence and not price equivalence. Natural gas prices per MCF and NGL prices per barrel often differ significantly from the equivalent amount of oil.}
⁽²⁾	^{Amounts exclude the impact of cash paid or received on the settlement of derivative contracts since we did not elect to apply hedge accounting.}

Evolution Petroleum Corporation Summary of Production Volumes and Average Sales Price (Unaudited)

	Three Months Ended
	March 31,								December 31,
	2025				2024				2024
	Volume		Price		Volume		Price		Volume		Price
Production:
Crude oil (MBBL)
SCOOP/STACK		28	$	71.36		30	$	78.71		35	$	70.52
Chaveroo Field		8		56.78		15		76.39		9		67.55
Jonah Field		7		67.69		8		72.25		7		64.54
Williston Basin		34		64.35		35		70.29		30		64.64
Barnett Shale		3		68.03		3		73.05		2		65.99
Hamilton Dome Field		34		58.88		35		61.21		35		57.53
Delhi Field		58		76.04		73		77.08		60		68.66
Other		—		—		—		—		1		71.61
Total		172	$	68.42		199	$	73.06		179	$	65.72
Natural gas (MMCF)
SCOOP/STACK		317	$	4.91		214	$	2.11		314	$	2.89
Chaveroo Field		—		—		7		2.29		—		—
Jonah Field		758		4.02		843		3.94		803		3.21
Williston Basin		32		3.89		20		1.36		18		1.41
Barnett Shale		904		3.39		1,031		1.98		990		2.31
Total		2,011	$	3.87		2,115	$	2.77		2,125	$	2.73
Natural gas liquids (MBBL)
SCOOP/STACK		13	$	27.84		10	$	25.14		18	$	21.34
Chaveroo Field		—		—		1		22.86		—		—
Jonah Field		8		32.14		9		31.93		9		30.08
Williston Basin		8		23.74		4		23.96		2		17.86
Barnett Shale		49		33.48		59		22.85		57		25.86
Delhi Field		15		37.20		20		30.48		19		29.13
Other		—		—		1		25.87		—		—
Total		93	$	32.28		104	$	25.26		105	$	25.90

Equivalent (MBOE)⁽¹⁾
SCOOP/STACK		94	$	41.90		76	$	40.56		105	$	35.48
Chaveroo Field		8		56.78		17		68.40		9		67.55
Jonah Field		141		26.63		158		26.72		150		22.14
Williston Basin		47		53.08		42		61.15		35		57.00
Barnett Shale		203		24.13		234		15.41		224		17.29
Hamilton Dome Field		34		58.88		35		61.21		35		57.53
Delhi Field		73		68.19		93		67.21		79		59.37
Other		—		—		1		25.87		1		71.61
Total		600	$	37.60		656	$	35.10		638	$	31.78

Average daily production (BOEPD)⁽¹⁾
SCOOP/STACK		1,044				835				1,141
Chaveroo Field		89				187				98
Jonah Field		1,567				1,736				1,630
Williston Basin		522				462				380
Barnett Shale		2,256				2,571				2,435
Hamilton Dome Field		378				385				380
Delhi Field		811				1,022				859
Other		—				11				12
Total		6,667				7,209				6,935

_____________________

⁽¹⁾	^{Equivalent oil reserves are defined as six MCF of natural gas and 42 gallons of NGLs to one barrel of oil conversion ratio, which reflects energy equivalence and not price equivalence. Natural gas prices per MCF and NGL prices per barrel often differ significantly from the equivalent amount of oil.}

Evolution Petroleum Corporation Summary of Average Production Costs (Unaudited)

	Three Months Ended
	March 31,								December 31,
	2025				2024				2024
	Amount		Price		Amount		Price		Amount		Price
Production costs (in thousands, except per BOE):
Lease operating costs
SCOOP/STACK	$	1,106	$	11.74	$	619	$	8.18	$	1,050	$	9.97
Chaveroo Field		128		15.77		161		9.12		122		12.92
Jonah Field		2,184		15.51		2,313		14.63		2,196		14.62
Williston Basin		1,476		31.45		1,413		33.69		1,190		34.12
Barnett Shale		3,739		18.47		3,767		16.07		4,030		18.03
Hamilton Dome Field		1,237		36.36		1,566		45.34		1,188		34.18
Delhi Field		3,518		48.04		2,785		30.19		3,017		38.15
Total	$	13,388	$	22.32	$	12,624	$	19.24	$	12,793	$	20.05

Evolution Petroleum Corporation

Summary of Open Derivative Contracts (Unaudited)

For more information on the Company’s hedging practices, see Note 7 to its financial statements included on Form 10-Q filed with the SEC for the quarter ended March 31, 2025.
The Company had the following open crude oil and natural gas derivative contracts as of May 12, 2025:


			Volumes in	Swap Price per		Floor Price per		Ceiling Price per
Period	Commodity	Instrument	MMBTU/BBL	MMBTU/BBL		MMBTU/BBL		MMBTU/BBL
April 2025 – June 2025	Crude Oil	Fixed-Price Swap	25,571	$	73.49
April 2025 – June 2025	Crude Oil	Collar	41,601			$	65.00	$	84.00
April 2025 – December 2025	Crude Oil	Fixed-Price Swap	32,229		72.00
July 2025 – December 2025	Crude Oil	Fixed-Price Swap	81,335		71.40
January 2026 – March 2026	Crude Oil	Collar	43,493				60.00		75.80
April 2026 – June 2026	Crude Oil	Fixed-Price Swap	17,106		60.40
April 2025 – December 2025	Natural Gas	Collar	681,271				4.00		4.95
April 2025 – December 2026	Natural Gas	Fixed-Price Swap	3,010,069		3.60
January 2026 – March 2026	Natural Gas	Collar	375,481				3.60		5.00
January 2026 – March 2026	Natural Gas	Collar	213,251				4.00		5.39
April 2025 – December 2027	Natural Gas	Fixed-Price Swap	3,729,540		3.57
April 2026 – October 2026	Natural Gas	Collar	433,428				3.50		4.55

This press release was published by a CLEAR® Verified individual.

The MIL Network –

May 14, 2025

MIL-OSI: Global Clean Energy, Inc. Launches Cogeneration Division and Enters Strategic Agreement with Axiom Energy and SolydEra

Source: GlobeNewswire (MIL-OSI)

HOUSTON, May 13, 2025 (GLOBE NEWSWIRE) — Global Clean Energy, Inc. (OTC PINK: GCEI) today announced the formation of its Cogeneration Division, marking a significant milestone in its mission to deliver efficient, sustainable, and cost-effective energy solutions through its MicroUtility model.

Cogeneration, or Combined Heat and Power (CHP), is a highly efficient process that simultaneously generates electricity and captures usable heat. GCEI’s MicroUtility installations use natural gas-powered engines to generate electricity, while harnessing waste heat to produce hot water, creating a dual-output system that delivers meaningful energy savings to customers. GCEI owns, installs, and maintains these cogeneration systems, offering end-users guaranteed savings under a shared-savings model. The end-user pays zero out of pocket expenses for the system yet benefits from immediate savings.

To support this initiative, GCEI has finalized an exclusive consulting agreement with Axiom Energy Group, the manufacturer of a 4.4kw combined heat and power cogeneration system. These units can be modularly scaled up to 30kW, enabling deployment across a wide range of commercial and industrial settings.

GCEI is currently in discussions with multiple facility operators, ranging from hotels and health clubs to industrial laundries, and manufacturing plants, to deploy Axiom-powered MicroUtilities at strategic locations throughout North America.

As part of the agreement, GCEI has finalized an MOU to act as a North American Integrator for SolydEra’s Solid Oxide Fuel Cell (SOFC) stack technology, which provides a low-emission, high-efficiency alternative to engine-based systems. SolydEra’s modular SOFC systems, capable of producing 100kW of electricity and heat, are expected to be market-ready within the next 12 months.

GCEI will integrate American-made water purification and heat exchange components to complete the SolydEra subsystem offering, supporting its expansion into larger-scale installations of up to 200kW.

“These strategic partnerships with Axiom Energy and SolydEra allow us to deliver scalable clean energy systems, from 4.4kW to 200kW, to provide hot water for pools or process, and electricity to industries across the continent,” said Steven Mann, CDO of Global Clean Energy, Inc. “With our MicroUtility model, customers will realize immediate electrical and natural gas cost savings while significantly reducing their carbon footprint with zero out of pocket expense.”

“The collaboration with Global Clean Energy and SolydEra represents a pivotal step forward for all involved,” said James C. Green, President & CEO of Axiom Energy. “By integrating our high efficiency mCHP systems with SolydEra’s solid oxide fuel cell technology and Global Clean Energy’s MicroUtility platform, we are unlocking new opportunities for decarbonization and long-term growth. Together, the three companies are poised to deliver decentralized, low-emission energy solutions for residential, commercial, and industrial applications throughout North America. We look forward to working alongside such innovative partners to shape the future of sustainable energy.”

“We are enthusiastic about the partnership with Global Clean Energy, Inc. and Axiom Energy to bring our Solid Oxide Fuel Cell technology to North America,” said Alexander Liberov, CEO of SolydEra. “Our modular SOFC subsystems for CHPs offer a high-efficiency, low-emission alternative that complements GCEI’s innovative model. Together, we are paving the way for a sustainable energy future, providing reliable and scalable solutions that meet the energy needs of commercial and industrial sectors.”

Statements in this release may be regarded, in certain instances, as “forward-looking statements” pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. “Forward-looking statements” are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate, and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.

GLOBAL CLEAN ENERGY, INC.
Investor Relations
Info@globalcleanenergy.net
713-852-7474
www.globalcleanenergy.net

AXIOM ENERGY GROUP
info@axiom-energy.com

SOLYDERA
Info@solydera.com

The MIL Network –

May 14, 2025
MIL-OSI: EMGS reports first quarter 2025 results
Source: GlobeNewswire (MIL-OSI)

Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the first quarter of 2025 are attached.

Summary:

* The Company recorded revenues of USD 10.0 million, up from USD 0.2 million in the first quarter of 2024 and up from USD 9.7 million in the fourth quarter of 2024.

* Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 2.0 million, up from negative USD 3.8 million in the first quarter of 2024.

* Free cash decreased with USD 3.1 million during the quarter, to USD 6.0 million.

* During the quarter, the Atlantic Guardian completed the first of two proprietary acquisitions in India and commenced mobilisation for the second proprietary acquisition.

* Subsequent to the end of the quarter, on 6 May 2025, EMGS announced the establishment of a new business platform within offshore subsea construction through the acquisition of the OSCV Siem Day.

A pre-recorded presentation will be available over the internet from 20:00 (local time Norway) today. To access the presentation, please go to the Company’s homepage (www.emgs.com) and follow the link.

Contact
Anders Eimstad, Chief Financial Officer, +47 94 82 58 36

About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company’s services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. CSEM technology can also be used to detect the presence of marine mineral deposits (primarily Seabed Massive Sulphides) and EMGS believes that the technology can also be used to estimate the mineral content of such deposits. The Company is undertaking early-stage initiatives to position itself in this future market.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachments
- EMGS Q1 2025 Report
- EMGS Q1 2025 Presentation
The MIL Network –
May 14, 2025
MIL-OSI: Saudi Arabia and NVIDIA to Build AI Factories to Power Next Wave of Intelligence for the Age of Reasoning
Source: GlobeNewswire (MIL-OSI)

RIYADH, Saudi Arabia, May 13, 2025 (GLOBE NEWSWIRE) — NVIDIA and the Kingdom of Saudi Arabia (KSA) today announced partnerships to transform the country into a global powerhouse in AI, cloud and enterprise computing, digital twins and robotics.

During a state visit today with U.S. President Donald Trump and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, NVIDIA founder and CEO Jensen Huang said that the effort will harness sovereign AI infrastructure and expertise to propel Saudi Arabia to the ranks of global hyperscale AI leaders.

“AI, like electricity and internet, is essential infrastructure for every nation,” Huang said. “Together with HUMAIN, we are building AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom.”

“Our partnership with NVIDIA is a bold step forward in realizing the Kingdom’s ambitions to lead in AI and advanced digital infrastructure,” said Tareq Amin, CEO of HUMAIN. “Together, we are building the capacity, capability and a new globally enabled community to shape a future powered by intelligent technology and empowered people.”

Powerful Partnerships

NVIDIA and leading Saudi organizations will work together on several key initiatives:
- HUMAIN, a subsidiary of Saudi Arabia’s Public Investment Fund focused on AI, is making a major investment to build AI factories in KSA with a projected capacity of up to 500 megawatts powered by several hundred thousand of NVIDIA’s most advanced GPUs over the next five years. The first phase of deployment will be an 18,000 NVIDIA GB300 Grace Blackwell AI supercomputer with NVIDIA InfiniBand networking.
- HUMAIN will deploy the country’s first NVIDIA Omniverse Cloud to simulate and test physical AI solutions with digital twins.
- NVIDIA will strengthen the nation’s computing ecosystem and train thousands of developers with the skills to solve complex challenges with accelerated computing and AI.
- NVIDIA and the Saudi Data & AI Authority (SDAIA) will deploy up to 5,000 Blackwell GPUs for a sovereign AI factory and enable smart city solutions. NVIDIA and SDAIA will train government and university scientists and engineers on how to develop and deploy models for physical and agentic AI.
- Aramco Digital will develop AI computing infrastructure, collaborate with NVIDIA’s startup ecosystem, establish AI enterprise platforms, and create an engineering and robotics center of excellence including NVIDIA platforms.
“This partnership with NVIDIA reflects SDAIA’s commitment to harnessing and advancing the potential of data and AI through continuous innovation,” said H.E. Dr. Abdullah bin Sharaf Alghamdi, president of the SDAIA. “It marks a significant step toward positioning the Kingdom as a leader among data- and AI-driven economies, and in building a knowledge-based society and an advanced digital economy aligned with the objectives of Saudi Vision 2030.”

These initiatives will help industries such as energy, manufacturing and logistics to develop and deploy innovative solutions using the power of AI and digital twins to fuel growth and prosperity throughout the region, while boosting efficiency, safety and sustainability.

This effort will contribute to building a robust AI ecosystem and aligns with Saudi Arabia’s Vision 2030 goals of economic diversification and digital leadership.

About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.

For further information, contact:
Corporate Communications
NVIDIA Corporation
press@nvidia.com

Certain statements in this press release including, but not limited to, statements as to: the benefits and impact of NVIDIA’s products, services, and technologies; NVIDIA’s collaborations with third parties and the impact and benefits thereof; third parties adopting NVIDIA’s products and technologies and the impact and benefits thereof; and together with HUMAIN, NVIDIA building the AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom are 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, which are subject to the “safe harbor” created by those sections and that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2025 NVIDIA Corporation. All rights reserved. NVIDIA and the NVIDIA logo are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries.

The MIL Network –
May 14, 2025
MIL-OSI: The 2025 Healthcare Workforce Management Report Provides New Data and Insights on Improving Retention and Increasing Operational Excellence
Source: GlobeNewswire (MIL-OSI)

BERKELEY HEIGHTS, N.J., May 13, 2025 (GLOBE NEWSWIRE) — Viventium, who offers an industry-leading payroll, HR, and compliance platform purpose-built for healthcare providers, today published The 2025 Healthcare Workforce Management Report. Based on insights from an independent survey of nearly 650 professionals across home-, facility-, and community-based care, the research uncovers the disconnect between care staff and administrator perception, the role of technology and trust, and the impact of burnout and retention, and outlines what it takes to build stronger, more resilient teams from within.

“Our research highlights the underlying workforce challenges threaded throughout the macro trends shaping the industry,” said Navin Gupta, CEO of Viventium. “We’re excited to share our findings as a roadmap to help healthcare providers navigate these trends by identifying key areas that impact operational resilience, retention, and compliance.”

The report sheds light on the day-to-day realities behind the industry’s most pressing workforce issues –– such as areas where misalignment between care staff and administrators is quietly undermining trust, operations, and retention –– from persistent payroll errors to growing emotional strain.

Key findings include:
- 74% of providers report current staffing shortages.
- 20% of providers expect staffing shortages in the near future.
- 72% of care staff experience burnout on a monthly basis.
- 11% of care staff report feeling burnout daily.
- 81% of administrators encounter payroll errors every month, and nearly half report experiencing three or more payroll errors monthly.
- 1 in 5 care staff say a single payroll mistake would break their trust in their employer.
With this report, healthcare organizations will walk away with:
- Macro trends: 7 market forces shaping the future of healthcare.
- Pain points: 5 core issues related to workforce management that underlie each of the macro trends.
- Key insights: Gaps in perception between administrators and care staff and gaps in process and technology when it comes to payroll and compliance.
- Actionable strategies: Steps you can take today to rebuild morale, strengthen operations, and retain staff.
- Original research: Insights from hundreds of care professionals across care settings.
Download the full 2025 Healthcare Workforce Management Report to explore solutions and take the first step toward building a more resilient care team.

*Research conducted in December 2024.

About Viventium

Viventium is healthcare’s trusted ally for payroll, HR, and compliance, combining innovative solutions with deep expertise in the healthcare industry. Its purpose-built cloud-based platform is designed to tackle the complexity and compliance challenges healthcare providers face, simplifying the workday, every day. Viventium helps organizations hire and retain care staff, improve the employee experience, and drive measurable value. Serving clients in all 50 states and supporting over 500,000 healthcare employees, Viventium enables organizations to focus on what matters most: providing compassionate care. It’s a new day, with Viventium.

For more information, visit viventium.com.

Media Contact: jpetescia@viventium.com
The MIL Network –
May 14, 2025
MIL-OSI: ESS Launches the H.E.L.P.® Alert Network™
Source: GlobeNewswire (MIL-OSI)

HOUSTON, May 13, 2025 (GLOBE NEWSWIRE) — Emergency Safety Solutions (ESS), a leader in modernizing roadway safety with advance warning technologies, today announced the launch of the H.E.L.P.^® Alert Network™ — a breakthrough in real-time hazard communication. This vertically integrated, collaborative alerting and communications network delivers life-saving alerts and enhanced situational awareness, dramatically improving safety for all road users by overcoming the limitations of outdated hazard lights and fragmented connected vehicle technologies.

“The H.E.L.P. Alert Network represents a groundbreaking leap forward in how we protect vulnerable vehicles and individuals on the road,” said Tim VanGoethem, ESS Chief Product Officer. “By empowering a broader community of vehicles and systems to communicate with each other in real time, we’re working with our customers and network partners to deliver critical, life-saving awareness precisely where – and when – it’s needed most.”

The H.E.L.P. Alert Network collects, algorithmically calculates and distributes critical hazard data from connected vehicles, roadway work zones, fleet platforms and emergency systems — then delivers trusted, relevant information to navigation apps and in-vehicle displays with exceptional speed and accuracy.

This system enables smarter decision-making across the entire roadway ecosystem, giving both human drivers and autonomous systems more time to react — and more accurate information to act on.

A Unified Network for Safer Roadways

The H.E.L.P. Alert Network includes three coordinated service pillars:
- Notification Partner Network: Vehicles, devices, and platforms that detect and transmit critical hazard data, including disabled and vulnerable vehicles equipped with ESS’ globally patented H.E.L.P.^® Digital Alerts^TM, work crew vehicles, commercial fleet vehicles, DOT and municipal infrastructure, emergency response vehicles, and wrong way drivers.
- Protect Partner Network: Calculates and then distributes accurate, relevant and timely location of roadway hazards to mobile and embedded navigation platforms, in-dash displays, mobile devices, and autonomous vehicle systems as real-time alerts so that approaching drivers can safely avoid them.
- Response Partner Network: Shares incident and event information with Traffic Management Centers, 9-1-1 providers, public safety networks and incident response platforms to facilitate faster, more informed emergency response in situations where every second matters.
With its patented safety technologies now deployed in market, ESS is expanding H.E.L.P. and actively bidding projects with commercial fleets, Department of Transportation fleets, OEMs and beyond – advancing public safety and extending protection across America’s roadways.

Innovation Where It Counts

ESS’s H.E.L.P. safety features are redefining hazard communication for the modern roadway, replacing outdated systems that fail to keep pace with today’s transportation systems.
- H.E.L.P.^® Lighting Alerts: High-visibility flash pattern dramatically increases visibility of stationary and vulnerable vehicles – proven to induce behavior change in oncoming drivers by prompting them to slow down and move over.
- H.E.L.P.^® Digital Alerts: Disabled and vulnerable vehicle alerts that are delivered to oncoming motorists via mobile navigation applications and in-cabin displays to warn approaching drivers of potentials dangers ahead.
These connected vehicle features work together to enhance situational awareness, reduce collisions, and increase protection for not just drivers – but also passengers, pedestrians and roadside workers alike.

Advantages for OEMs, Fleets, Public Safety and Beyond

The H.E.L.P. Alert Network offers flexible deployment models tailored to the distinct needs of each customer segment ESS serves — including passenger and commercial vehicle OEMs, commercial fleets, emergency response teams, roadway work crews, and partners in connected infrastructure and communications.

With several leading automotive OEMs, commercial fleets and state DOT fleets already using ESS’ safety features as well as a rapidly growing roster of network partners, the H.E.L.P. Alert Network is connecting people, vehicles and infrastructure to save lives.

About ESS

Emergency Safety Solutions (ESS) is a certified minority-owned company revolutionizing roadway safety through its patented H.E.L.P.^® technologies. ESS delivers advanced lighting and real-time digital alerts as advance warnings to protect vulnerable passenger and commercial vehicles, emergency responders, and roadway workers. With the launch of the H.E.L.P. Alert Network™, ESS is building a globally connected roadway safety community that helps prevent crashes and save lives. Learn more at www.ess-help.com.

Media Contact: Craig Keller | ESS Communications | ckeller@ess-help.com | 847-476-7543 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f2ef5c4-9e50-4773-be7f-5192f535e179
The MIL Network –
May 14, 2025
MIL-OSI: Jeffersonville Bancorp Announces First Quarter Earnings of $2,718,000 or $0.64 per share; Declares Dividend of $0.15

Source: GlobeNewswire (MIL-OSI)

JEFFERSONVILLE, N.Y., May 13, 2025 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) announced today first quarter net income of $2,718,000 or $0.64 per share compared to $2,553,000 or $0.60 per share for the same quarter in 2024. The increase in quarterly net income compared to 2024 of $165,000 was primarily attributable to a decrease in interest expense of $621,000, an increase in loan interest and fees of $328,000, and an increase in non-interest income of $102,000. The increase was partially offset by a decrease in other interest income of $666,000, an increase in tax expense of $46,000, in salaries and employee benefits of $43,000, and in other non-interest expense of $33,000.

“The Company retired all wholesale funding by the end of 2024, reducing forward interest expense from already low levels.” said George W. Kinne, Jr., President and CEO, “Strong loan growth in the first quarter partially offset lower rates on funds held at the Federal Reserve and some planned runoff of securities. With economic uncertainty expected to continue in the near term, we are comfortable with our balance sheet continuing to be very liquid.”

A cash dividend in the amount of fifteen cents ($0.15) per share on the common stock of the company was declared at the May 13, 2025 meeting of the Board of Directors. The dividend is payable on June 5, 2025 to stockholders of record at the close of business on May 27, 2025.

Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.

For More Information, call: 845-482-4000

Contact: George W. Kinne, Jr., President – CEO

The MIL Network –

May 14, 2025
MIL-OSI: Oak Valley Community Bank Announces Promotion

Source: GlobeNewswire (MIL-OSI)

OAKDALE, Calif., May 13, 2025 (GLOBE NEWSWIRE) — Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), is pleased to announce the promotion of Jaime Gonzalez to Assistant Vice President, Branch Manager of the Modesto–Dale Road Branch.

Gonzalez has over 20 years of banking experience and has been with OVCB for more than eight years. He most recently served as Customer Service Manager at the Modesto–McHenry Branch. In his new role, he will oversee branch operations, manage sales efforts, and focus on business development.

“We are excited for Jaime to take on this new role,” said Julie DeHart, Executive Vice President of the Retail Banking Group. “His strong leadership and deep commitment to customer service will be instrumental in strengthening both new and existing client relationships in the Modesto region. We are confident in his continued dedication and passion for serving our clients.”

In 2019, Gonzalez was recognized as Customer Service Manager of the Year, a testament to his exemplary performance and contributions to the bank. He is an active member of St. Jude Catholic Church in Ceres and resides in Modesto with his wife, Viviana, and their two sons. Outside of work, he enjoys golfing, bike riding, coaching his sons’ baseball and soccer teams, and spending quality time with his family.

Oak Valley Bancorp operates Oak Valley Community Bank and its Eastern Sierra Community Bank Division, offering a full range of loan and deposit services to individuals and small businesses. The bank currently serves customers through 18 conveniently located branches in Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two locations in Sonora, three in Modesto, and three in the Eastern Sierra communities of Bridgeport, Mammoth Lakes, and Bishop. A 19th branch location is scheduled to open in Lodi later this year.

For more information, call 1-866-844-7500 or visit www.ovcb.com.

Contact: Chris Courtney/Rick McCarty

Phone: (209) 848-BANK (2265)

Toll Free (866) 844–7500

www.ovcb.com

The MIL Network –

May 14, 2025
MIL-OSI: VERB Publishes Management’s Prepared Remarks From Its First Quarter 2025 Earnings Call

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, May 13, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), Transforming the Landscape of Social Commerce, Social Telehealth and Social Crowdfunding with MARKET.live; LyveCom; VANITYPrescribed; GoodGirlRx; and the GO FUND YOURSELF TV Show, today filed its Form 10-Q reporting financial and operating results for the quarter ending March 31, 2025 and held an earnings conference call at 1 p.m. ET to discuss these results. Prepared remarks during the conference call of Rory J. Cutaia, the Company’s Chairman & CEO, are provided below.

Management Prepared Remarks

VERB 2025 First Quarter Financial Results Conference Call

Tuesday, May 13, 2025, 1 p.m. ET

Company Participant
Rory J. Cutaia, CEO

Operator:

Good afternoon and welcome to the first quarter 2025 Financial Results Conference Call for Verb Technology Company, Inc. At this time, all participants are in a listen-only mode. Please be advised, the call is being recorded at the Company’s request.

On our call today is Rory J. Cutaia, Verb’s Founder, Chairman and CEO.

Before we begin, I’d like to remind everyone that statements made during this conference call will include forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties that can cause actual results to differ materially. Forward-looking statements speak only as of the date they are made, except as required by law, as the underlying facts and circumstances may change. Verb Technology Company disclaims any obligations to update these forward-looking statements, as well as those contained in the Company’s current and subsequent filings with the SEC.

I would now like to turn the call over to Rory J. Cutaia, CEO. Rory?

Rory:

Thank you moderator, and thanks to everyone for joining us today for our first quarter 2025 financial results and business update conference call.

So for those of you who have reviewed our 10-Q filed this morning or the summarized results in the press release we issued this morning – well – you already know – right – you know the Company is firing on all cylinders – I’m talking about a 12 cylinder finely tuned exotic sports roadster – yeah – we had a crazy good quarter. This is the VERB we’ve envisioned – this is the VERB we’ve manifested and this is the VERB we have worked so hard to deliver. And the best part – the really best part – is this is just the beginning.

I’ve got to hand it to my management team – they never stopped believing – through all the trials and tribulations – and we’ve had more than our share – they stuck it out with me – we drew strength from one another – and no matter what – we never gave up. I appreciate them all so very much – and our amazing Board of Directors – and now that we’ve begun to hit our stride – they’re all feeling it – they know where we’re taking this vehicle – and for those of you listening to this who have stuck it out with us and for those of you thinking about joining us – from here on out, it’s going to be a fun ride.

We’re cashed-up, zero debt – insanely under-valued – and each VERB division is performing very, very well.

I’m not going to take your time reading the 10-Q or reiterating everything we discussed about the Company just 6 weeks or so ago when we reported our 2024 results – but I will definitely enjoy sharing some of our team’s accomplishments in the first 3 months of this year.

Let’s start with revenue – but first let me provide some context:

In Q1 of 2024 we reported revenue of just $7,000; In Q4 of 2024 we reported revenue of $723,000 – definitely a great quarter and the first full quarter after we instituted a number of changes to our business model – and for the entirety of 2024 – we reported a total of $895,000.

But in Q1 of 2025 we reported $1.3 Million – that’s 80% revenue growth over the prior quarter and approximately 46% growth over all 4 quarters of revenue of 2024 combined.

And while we were busy signing and launching a plethora of new clients, we identified what we believe is the hottest AI social commerce technology company in the market and negotiated the terms of an $8.5 Million cash and stock acquisition, signed a comprehensive term sheet, and then rapidly drove the deal to a closing – all while actively integrating their AI technology into our own platform.

We used about $4.2 Million in cash closing the acquisition – but I liked having a robust – zero debt – cashed-up balance sheet – so being an opportunist we identified a funding opportunity with extraordinary – shareholder friendly terms – negotiated it, documented it and closed it. A non-dilutive, non-convertible, non-voting, preferred stock deal with just a 9% annual dividend – and with that we added $5 Million back onto the balance sheet.

This deal is with a trusted financial partner with whom we’ve now done several very successful deals. I do feel sorry for other companies doing terrible – horrible financings – steep discounts to market price, pre-funded warrants, triple warrant coverage – decimating cap tables and rendering many of these companies unfinanceable going forward who ultimately get shorted into oblivion. You see it every day. Tough times for a lot of companies and I’m very grateful that we’re in such a strong cash position and we’ve been able to maintain a super clean cap table – no warrant overhang and a very tight float and obviously not desperate to find a source of capital.

In fact, with our cash on hand, no debt, and growing revenue across all business units, we expect to be able fund operations easily into 2028 and beyond.

As to the growth behind MARKET.live, we’ve signed many very high profile clients and continue to do so. I’ve been asked why we aren’t announcing them – which we’d have to do multiple times a month – but the answer is most of these deals are where we’re white labeling our platform for these well-known brands and our contract prohibits us from announcing the names. I wish I could – if I could, I doubt our stock would still be trading for 50% of our net cash – with zero value given for all our business units – it’s crazy – just crazy.

I’ve also been asked why we don’t see as many livestreams from MARKET.live as we used to and that’s because our new technology allows us to stream directly from our clients’ own websites and multicast their streams across multiple social media channels simultaneously. This is really the killer app, drawing so many more clients, because it allows these brands to own the customer relationship while still streaming over other social platforms. We’re also seeing strong, strong growth in shoppable ads, among many other areas of our MARKET.live and now Lyvecom business units.

Our telehealth platforms, VanityPrescribed and GoodGirlRX continue to grow month over month adding recurring subscription-based revenue. And our Go Fund Yourself, crowd funding TV show is developing an almost cult-like following and more and more issuers are applying to be on the show, forcing us to become much more selective, and to accommodate the demand we’re now shooting multiple episodes twice a month. Issuers pay to be on the show. We’re about to launch Season 2 on Cheddar.

In closing, I refer you to our Form 10-Q filed today for greater details concerning our Q1 2025 financial results as well as the press release distributed today summarizing those results for additional information I’ve not covered in my conference call today.

So thank you for your interest in VERB and for taking the time to listen to our Q1 2025 financial results. I presume you can tell how excited we are about the business – really excited – and oh yes – I do indeed expect Q2 results to be even better than this Q1 – so stand by.

Operator: This concludes the conference call. You may now disconnect.

About VERB

Verb Technology Company, Inc. (Nasdaq: VERB), is transforming the landscape of social commerce, social telehealth and social crowdfunding with MARKET.live, LyveCom, VANITYPrescribed, GoodGirlRx, and the GO FUND YOURSELF TV Show. The Company operates multiple business units, each of which leverages the Company’s social commerce technology and video marketing expertise.

MARKET.live, together with recently acquired AI social commerce technology innovator LyveCom, is a multi-vendor, livestream social shopping platform that allows brands and merchants to deliver a true omnichannel livestream shopping experience across their own websites, apps, and social platforms. Advanced AI capabilities power real-time user-generated-content creation, automated video content repurposing for high conversion video ads, and AI-powered virtual live shopping hosts that are virtually indistinguishable from human hosts, capable of real-time audience engagement. Brands utilize the Company’s proprietary AI model trained on tens of thousands of video commerce interactions to automate content creation and intelligent tools designed to optimize merchandising strategies and increase conversion rates.

GO FUND YOURSELF TV Show is a revolutionary interactive social crowd funding platform for public and private companies seeking broad-based exposure for their crowd-funded Regulation CF and Regulation A offerings. The platform combines a ground-breaking interactive national TV show with MARKET.live’s back-end capabilities allowing viewers to tap, scan or click on their screen to facilitate an investment, in real time, as they watch companies presenting before the show’s panel of “Titans”. Presenting companies that sell consumer products are able to offer their products directly to viewers during the show in real time through shoppable onscreen icons.

VANITYPrescribed.com and GoodGirlRx.com are telehealth portals, intended to redefine telehealth by offering a seamless, digital-first experience that empowers individuals to take control of their healthcare needs. They were designed and developed to disrupt the traditional healthcare model by providing tailored healthcare solutions at affordable, fixed prices – without hidden fees, membership costs, or inflated pharmaceutical markups. GoodGirlRx.com, a partnership with Savannah Chrisley, a well-known lifestyle personality and advocate for health and wellness, offers customers access to convenient, no-hassle telehealth services and pharmaceuticals, including the new weight-loss drugs, with fixed pricing regardless of dosage, breaking away from the industry’s traditional model of excessive pricing and pharmaceutical gatekeeping.

The Company is headquartered in Las Vegas, NV and operates full-service production and creator studios in the Los Angeles, California vicinity.

For more information, please visit: www.verb.tech

Follow VERB here:

Facebook: https://www.facebook.com/VerbTechCo

X: https://twitter.com/VerbTech_Co

LinkedIn: https://www.linkedin.com/company/verb-tech

YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ

Sign up for E-mail Alerts here: https://ir.verb.tech/news-events/email-alerts

FORWARD-LOOKING STATEMENTS
Statements contained in this press release that are not statements of historical fact are forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, these forward-looking statements can be identified by words such as “anticipate,” “designed,” “expect,” “may,” “will,” “should” and other comparable terms. Forward-looking statements include statements regarding VERB’s intentions, beliefs, projections, outlook, analyses or current expectations and the other risk factors and other cautionary statements included in VERB’s Annual Report on Form 10-K for the year ended December 31, 2024, and its subsequent filings with the Securities and Exchange Commission, including subsequent periodic reports on Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. All forward-looking statements made in this press release speak only as of the date of this press release and are based on management’s assumptions and estimates as of such date. Except as required by law, VERB undertakes no obligation to update or revise forward-looking statements to reflect new information, future events, changed conditions or otherwise after the date of this press release.

Investor Relations Contact: investors@verb.tech
Media Contact: info@verb.tech

The MIL Network –

May 14, 2025

MIL-OSI: Atlantic American Corporation Reports First Quarter Results for 2025

Source: GlobeNewswire (MIL-OSI)

ATLANTA, May 13, 2025 (GLOBE NEWSWIRE) — Atlantic American Corporation (Nasdaq- AAME) today reported net income of $0.8 million, or $0.03 per diluted share, in the first quarter of 2025 compared to net loss of ($2.0) million, or ($0.10) per diluted share, in the first quarter of 2024. The increase in net income for the first quarter of 2025 was primarily the result of an increase in premium revenue and favorable loss experience in the Company’s life and health operations. Premium revenue for the three month period ended March 31, 2025 increased $2.4 million, or 5.3%, to $46.9 million from $44.6 million in the three month period ended March 31, 2024.

The Company reported operating income (as defined below) of $0.3 million in the three month period ended March 31, 2025 compared to operating loss of ($2.4) million in the three month period ended March 31, 2024. The increase in operating income was primarily due to an increase in premium revenue and favorable loss experience in the Company’s life and health operations, as previously mentioned.

Commenting on the results, Hilton H. Howell, Jr., Chairman, President and Chief Executive Officer, stated, “We are pleased to report strong quarterly results, highlighted by improved profitability and solid growth in insurance premiums. New business momentum within our life and health segments remains robust, reinforcing our confidence in the Company’s long-term growth trajectory. While our property and casualty operations faced elevated losses this quarter, we expect recent rate adjustments to begin positively impacting results in the coming periods. Looking ahead, we see significant opportunities and remain confident in our outlook for the remainder of 2025.”

Atlantic American Corporation is an insurance holding company involved through its subsidiary companies in specialty markets of the life, health, and property and casualty insurance industries. Its principal insurance subsidiaries are American Southern Insurance Company, American Safety Insurance Company, Bankers Fidelity Life Insurance Company, Bankers Fidelity Assurance Company and Atlantic Capital Life Assurance Company.

Note regarding non-GAAP financial measure: Atlantic American Corporation presents its consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP). However, from time to time, the Company may present, in its public statements, press releases and filings with the Securities and Exchange Commission, non-GAAP financial measures such as operating income (loss). We define operating income (loss) as net income (loss) excluding: (i) income tax expense (benefit); (ii) realized investment (gains) losses, net; and (iii) unrealized (gains) losses on equity securities, net. Management believes operating income (loss) is a useful metric for investors, potential investors, securities analysts and others because it isolates the “core” operating results of the Company before considering certain items that are either beyond the control of management (such as income tax expense (benefit), which is subject to timing, regulatory and rate changes depending on the timing of the associated revenues and expenses) or are not expected to regularly impact the Company’s operating results (such as any realized and unrealized investment gains (losses), which are not a part of the Company’s primary operations and are, to a limited extent, subject to discretion in terms of timing of realization). The financial data attached includes a reconciliation of operating income (loss) to net income (loss), the most comparable GAAP financial measure. The Company’s definition of operating income (loss) may differ from similarly titled financial measures used by others. This non-GAAP financial measure should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.

Note regarding forward-looking statements: Except for historical information contained herein, this press release contains forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those indicated by such forward-looking statements due to a number of factors and risks, including, among others: the effects of macroeconomic conditions and general economic uncertainty; unexpected developments in the health care or insurance industries affecting providers or individuals, including the cost or availability of services, or the tax consequences related thereto; disruption to the financial markets; unanticipated increases in the rate, number and amounts of claims outstanding; our ability to remediate the identified material weakness in our internal control over financial reporting; the level of performance of reinsurance companies under reinsurance contracts and the availability, pricing and adequacy of reinsurance to protect the Company against losses; changes in the stock markets, interest rates or other financial markets, including the potential effect on the Company’s statutory capital levels; the uncertain effect on the Company of regulatory and market-driven changes in practices relating to the payment of incentive compensation to brokers, agents and other producers; the potential impact of public health emergencies; the incidence and severity of catastrophes, both natural and man-made; the possible occurrence of terrorist attacks; stronger than anticipated competitive activity; unfavorable judicial or legislative developments; the potential effect of regulatory developments, including those which could increase the Company’s business costs and required capital levels; the Company’s ability to distribute its products through distribution channels, both current and future; the uncertain effect of emerging claim and coverage issues; the effect of assessments and other surcharges for guaranty funds and other mandatory pooling arrangements; information technology system failures or network disruptions; risks related to cybersecurity matters, such as breaches of our computer network or those of other parties or the loss of or unauthorized access to the data we maintain; and those other risks and uncertainties detailed in statements and reports that the Company files from time to time with the Securities and Exchange Commission. As a result, undue reliance should not be placed upon forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to publicly update any forward-looking statements as a result of subsequent developments, changes in underlying assumptions or facts or otherwise, except as may be required by law.

For further information contact:
J. Ross Franklin	Hilton H. Howell, Jr.
Chief Financial Officer	Chairman, President & CEO
Atlantic American Corporation	Atlantic American Corporation
404-266-5580	404-266-5505

Atlantic American Corporation Financial Data

	Three Months Ended
	March 31,
(Unaudited; In thousands, except per share data)		2025			2024
Insurance premiums
Life and health	$	28,582		$	26,674
Property and casualty		18,331			17,878
Insurance premiums, net		46,913			44,552

Net investment income		2,442			2,556
Unrealized gains (losses) on equity securities, net		767			(114	)
Other income		3			3

Total revenue		50,125			46,997

Insurance benefits and losses incurred
Life and health		17,316			19,112
Property and casualty		14,597			12,813
Insurance benefits and losses incurred, net		31,913			31,925

Commissions and underwriting expenses		11,680			12,666
Interest expense		774			855
Other expense		4,723			4,057

Total benefits and expenses		49,090			49,503

Income (loss) before income taxes		1,035			(2,506	)
Income tax expense (benefit)		233			(508	)

Net income (loss)	$	802		$	(1,998	)

Earnings (loss) per common share (basic & diluted)	$	0.03		$	(0.10	)

Reconciliation of non-GAAP financial measure

Net income (loss)	$	802		$	(1,998	)
Income tax expense (benefit)		233			(508	)
Unrealized (gains) losses on equity securities, net		(767	)		114

Non-GAAP operating income (loss)	$	268		$	(2,392	)


	March 31,			December 31,
Selected balance sheet data		2025			2024

Total cash and investments	$	268,424		$	265,696
Insurance subsidiaries		263,490			258,675
Parent and other		4,934			7,021
Total assets		388,436			393,428
Insurance reserves and policyholder funds		220,520			225,106
Debt		37,760			37,761
Total shareholders’ equity		102,385			99,613
Book value per common share		4.80			4.61
Statutory capital and surplus
Life and health		33,468			32,443
Property and casualty		47,614			47,670

The MIL Network –

May 14, 2025

MIL-OSI: BitLyft AIR Launches Seamless Graylog Integration to Supercharge Cloud Identity Security with True No-Code Response
Source: GlobeNewswire (MIL-OSI)

ST. JOHN’S, Mich., May 13, 2025 (GLOBE NEWSWIRE) — BitLyft, a leading managed detection and response provider (MDR) offering a holistic defense approach, announces the launch of a powerful new integration between BitLyft AIR® and Graylog, delivering unprecedented visibility and automated response capabilities within an existing Security Information and Event Management (SIEM) environment. Graylog is a powerful SIEM solution offering a robust log analytics platform that simplifies the collection, search, analysis, and alerting of all types of machine-generated data. The new Graylog Integration in BitLyft AIR introduces native Graylog Dashboards inside the platform, giving security teams instant access to real-time alert data, enabled and disabled event definitions, and the ability to take immediate action without leaving the BitLyft AIR platform.

“BitLyft AIR is built with a focused belief that automation should be accessible,” says Jason Miller, CEO and Founder of BitLyft. “Our Graylog integration is the next step in helping security teams eliminate alert fatigue and respond faster where it matters most: in their identity and collaboration platforms.”

Map, Monitor, Mitigate — All Without Code

Security practitioners can now map Graylog Event Definitions to BitLyft AIR’s pre-built Automated Incident Response workflows. This enables instant containment and remediation of user compromises, business email compromises, and more the moment alerts trigger. Unlike traditional platforms that require a working knowledge of REST APIs or scripting, BitLyft AIR delivers a true no-code experience, empowering analysts of all skill levels to deploy effective responses across their environment in seconds.

Targeted Remediation for Where Attacks Begin with Users

BitLyft AIR offers a deep library of pre-built remediation actions and playbooks tailored specifically for the cloud and identity platforms most often targeted in modern attacks, including:
- Microsoft 365
- Google Workspace
- Okta
- Duo Security
- OneLogin
By focusing exclusively on the services that govern user access, email, and identity — the frontline of enterprise security — BitLyft AIR delivers maximum impact with minimal configuration.

No Developers Needed. No APIs to Learn. Just Secure Outcomes.

Where other incident response tools bog teams down with complex connectors and API calls, BitLyft AIR delivers an enterprise-ready experience that puts response automation directly into the hands of the SOC without any scripting or engineering overhead. With the new Graylog Integration, BitLyft AIR becomes an even more powerful force multiplier — closing the loop between detection and resolution in one streamlined platform.

About BitLyft

BitLyft enables utilities and corporations to meet regulatory and audit mandates for SOC2 Compliance. The venture’s managed detection and response (MDR) services with an Automated Incident Response (AIR) platform can be implemented cost-effectively and quickly. Prioritizing tech-powered yet high-touch cybersecurity solutions creates a holistic defense, giving clients unwavering confidence; BitLyft staff pledge to prioritize and protect every client. For more information, visit www.bitlyft.com.

For More Information, Contact:
Becky Boyd
MediaFirst
Cell: (404) 421-8497
Becky@MediaFirst.Net
The MIL Network –
May 14, 2025
MIL-OSI: MapleTech Publishes New Website

Source: GlobeNewswire (MIL-OSI)

HOLMDEL, N.J., May 13, 2025 (GLOBE NEWSWIRE) — Maple Technologies (MapleTech), developer of the Aspire suite, a platform of integrated modules for processing personal and commercial Property & Casualty insurance, published a new website as part of the re- positioning of its brand. The new site features improved navigation; more descriptive content of Aspire’s flexibility and capabilities; a new, interactive blog called, Samaras; and easier access to contact information.

“We’ve evolved steadily since our founding in 2001,” said Matt Blackley, President and CEO of MapleTech. “Given the ways in which we’ve evolved, Aspire has evolved, and technology continues to evolve, it made good business sense to let that evolution be reflected in a commensurate evolution of our website. Samaras are the seeds from maple trees, sometimes called helicopters or whirlybirds, that spin and disseminate from the parent tree, sometimes 300 feet or more, before taking root. We call our blog Samaras, because our posts are the seeds with which we disseminate our knowledge, letting it take root with our readers.”

Aspire is a web-facing, configurable, scalable, and secure core processing system for Property & Casualty insurance. It provides all the requisite policy, billing, and claims functionality to enable insurers to improve profitability and manage risk effectively. It allows insurers to respond to market changes, client needs, and regulatory updates easily and efficiently. And MapleTech’s private cloud ensures near 100 percent uptime with guaranteed scalability, data redundancy, authentication standards, and user-determined authorization levels.

About MapleTech

Maple Technologies is the developer of Aspire, a core processing system for Property & Casualty insurance. Aspire is used by carriers, reciprocals, risk-retention groups, captives, self-insureds, and MGAs that write personal, commercial, and specialty lines. Aspire is flexible, configurable, and reliable. Available as a pre-integrated suite or as standalone components, Aspire integrates with other systems and data sources with flexible APIs. It features configurable workflows. And by streamlining operations and enhancing efficiency, Aspire helps insurers reduce costs and improve profitability. For more details please visit www.maple-tech.com/, call (732) 863-5523, or email info@maple-tech.com.

Media contact:
JoAnna Bennett
O’Brien Communications Group
(201) 341-2360
joanna@obriencg.com

The MIL Network –

May 14, 2025
MIL-OSI: Mexco Energy Corporation Declares Dividend on Common Shares

Source: GlobeNewswire (MIL-OSI)

MIDLAND, TX, May 13, 2025 (GLOBE NEWSWIRE) — Mexco Energy Corporation (NYSE American: MXC) announced today that its Board of Directors declared a regular annual cash dividend of $0.10 per common share. The dividend is payable June 16, 2025 to the stockholders of record at the close of business on June 2, 2025.

Mexco Energy Corporation, a Colorado corporation, is an independent oil and gas company located in Midland, Texas engaged in the acquisition, exploration and development of oil and gas properties primarily in the Permian Basin. For more information on Mexco Energy Corporation, go to www.mexcoenergy.com.

Dividends are authorized and determined by the Company’s Board of Directors in its sole discretion. Decisions regarding the payment of dividends are subject to a number of considerations at the time, including without limitation, the Company’s liquidity and capital resources, the Company’s results of operations and anticipated future results of operations, the level of cash reserves the Company maintains to fund future capital expenditures or other needs, and other factors that the Board of Directors deems relevant. The Company can provide no assurance that dividends will be authorized or declared in the future or the amount of any future dividends.

For additional information, please contact: Tammy L. McComic, President and Chief Financial Officer, at Mexco Energy Corporation, (432) 682-1119.

The MIL Network –

May 14, 2025
MIL-OSI: Euronext completes the acquisition of Admincontrol
Source: GlobeNewswire (MIL-OSI)

Euronext completes the acquisition of Admincontrol

The integration of Admincontrol accelerates Euronext Corporate Solutions development in the Nordics and scales up Euronext’s SaaS offering.

Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 13 May 2025 – Euronext, the leading European capital market infrastructure, today announces that it has completed the acquisition of 100% of the shares of Admincontrol for an enterprise value of NOK 4,650 million. The transaction complies with Euronext’s capital allocation policy, with a ROCE expected to exceed WACC between years three to five after closing¹.

Admincontrol will be part of Euronext Corporate Solutions, strengthening the development of the franchise in the Nordics and the UK. The acquisition accelerates Euronext’s strategic ambition to scale up its SaaS offering and increases Euronext’s share of subscription-based revenue. It more than doubles the size of the Euronext governance offering and broadens capabilities with state-of-the-art solutions addressing mission-critical workflows.

Admincontrol has seen double-digit annual growth over the last five years and recorded NOK 452 million of revenues and NOK 200 million of EBITDA and 44% EBITDA margin in 2024². From the second quarter of 2025, Admincontrol’s revenue will be integrated into Euronext’s revenue line Corporate and Investor Solutions and Technology Services, which represented €170.8 million in 2024³.

Stéphane Boujnah, CEO of Euronext, said: “The acquisition of Admincontrol positions Euronext Corporate Solutions as a leader in the governance SaaS space and expands our access to new clients in the Nordics where we have already expanded our presence over the years with promising growth prospects. Admincontrol will benefit from Euronext Corporate Solutions’ unique network and expertise across Europe to boost the growth of its state-of-the-art governance solutions. We look forward to welcoming Admincontrol’s talented teams to further accelerate the deployment of its strategy in Europe.”

Møyfrid Øygard, CEO of Admincontrol, said: “Joining Euronext is a significant milestone in Admincontrol’s growth journey. Excellent governance is critical for the Euronext network of issuers and customers, and we are excited to bring our complementary product offering to market, supporting Euronext Corporate Solutions’ business and its position in the Nordics.”

CONTACTS

ANALYSTS & INVESTORS – ir@euronext.com

Investor Relations        Aurélie Cohen

        Judith Stein        +33 6 15 23 91 97

MEDIA – mediateam@euronext.com

Europe        Aurélie Cohen         +33 1 70 48 24 45

        Andrea Monzani         +39 02 72 42 62 13

Belgium        Marianne Aalders         +32 26 20 15 01

France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45

Ireland        Andrea Monzani         +39 02 72 42 62 13

Italy         Ester Russom         +39 02 72 42 67 56

The Netherlands        Marianne Aalders         +31 20 721 41 33

Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10

Portugal         Sandra Machado        +351 91 777 68 97

Corporate Solutions        Andrea Monzani         +39 02 72 42 62 13

About Euronext

Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.

As of March 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host nearly 1,800 listed issuers with €6.3 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.

For the latest news, go to euronext.com or follow us on X and LinkedIn.

Disclaimer

This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

© 2025, Euronext N.V. – All rights reserved.

The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.

¹ The cashflow related to the transaction will be communicated as part of Q2 2025 results
² Based on unaudited figures
³ Based on Euronext’s new reporting framework: http://www.euronext.com/en/media/13322/download

Attachment
- 20250513_Euronext PR_Admincontrol closing
The MIL Network –
May 14, 2025
MIL-OSI: Foodie Squirrel ($FDS) Sells Out on NovaMeme; IEO Launching on Toobit Speed Zone

Source: GlobeNewswire (MIL-OSI)

GEORGE TOWN, Cayman Islands, May 13, 2025 (GLOBE NEWSWIRE) — Foodie Squirrel ($FDS), a meme token created to bring food lovers into the Web3 ecosystem, has successfully completed its Initial DEX Offering (IDO) on NovaMeme, selling out in just five minutes. The strong market response underscores growing interest in community-powered tokens with cultural relevance.

Following this milestone, Foodie Squirrel will launch its Initial Exchange Offering (IEO) on Toobit Speed Zone, offering broader access to the token ahead of its official listing on Toobit. This exclusive token launch feature gives users early access to emerging tokens ahead of their official listing, giving new projects greater visibility while providing users with a valuable first-mover advantage.

“Foodie Squirrel’s IDO generated some of the fastest engagement we’ve seen on NovaMeme,” said Perry, founder of NovaMeme. “It’s a great example of how storytelling, culture, and utility can combine to capture real user interest. We’re excited to support the project as it grows its presence across the Web3 space.”

Foodie Squirrel is designed to engage users at the intersection of food culture and decentralized finance. With an emphasis on community participation, digital ownership, and social engagement, Foodie Squirrel aims to foster an inclusive ecosystem centered around shared passion and online expression.

The token’s IDO was hosted on NovaMeme, a decentralized launchpad that supports early-stage projects through transparent, community-first fundraising models. Backed by Mantle EcoFund, Bybit, Bybit Web3, HashKey, and OKX, NovaMeme continues to attract high-interest projects within the meme and culture-driven crypto space.

For more information on Foodie Squirrel, visit: https://www.foodiesquirrel.com/

About NovaMeme

NovaMeme is a leading decentralized finance (DeFi) launchpad that empowers creators and traders. Dedicated to offering fair and innovative asset launch solutions, the fundraising platform bridges the gap between early-stage projects and the DeFi community. NovaMeme is community-first, and is supported by Mantle Ecofund, Bybit, Bybit Web3, Hashkey, and OKX.

For more information about NovaMeme, visit: Website | X | Telegram | Discord

Contact: Davin C.
Email: pr@nova.meme
Toobit
market@toobit.com
Website: www.toobit.com

Disclaimer: This is a paid post and is provided by Toobit. 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/734073db-e268-43f1-9bd2-c64d0a9a17ca

The MIL Network –

May 14, 2025
MIL-OSI: Fluxys Belgium: Regulated information – Payment of dividend
Source: GlobeNewswire (MIL-OSI)

The Ordinary General Meeting of Shareholders of 13 May 2025 decided to distribute a dividend for the financial year 2024 and set the gross amount at EUR 1.40 per share.

The net dividend, after deduction of the 30% withholding tax, amounts to EUR 0.98 per share and is payable as from 21 May 2025.

Holders of dematerialised and registered shares on 20 May 2025 will receive the dividend as from 21 May 2025 as follows:
- The dividend of dematerialised shares will be paid automatically by the financial intermediary holding the shares on behalf of the shareholder.
- The dividend of registered shares will be paid directly to the shareholders entered in the register.
According to Euronext procedure: Ex date: 19.05.2025 / Record date: 20.05.2025 / Payment date: 21.05.2025

The MIL Network –
May 14, 2025
MIL-OSI: AMD and HUMAIN Form Strategic, $10B Collaboration to Advance Global AI
Source: GlobeNewswire (MIL-OSI)

SANTA CLARA, Calif. and RIYADH, Saudi Arabia, May 13, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) and HUMAIN, Saudi Arabia’s new AI enterprise, today announced a landmark agreement to build the world’s most open, scalable, resilient, and cost-efficient AI infrastructure, that will power the future of global intelligence through a network of AMD-based AI computing centers stretching from the Kingdom of Saudi Arabia to the United States.

As part of the agreement, the parties will invest up to $10B to deploy 500 megawatts of AI compute capacity over the next five years. The AI superstructure built by AMD and HUMAIN will be open by design, accessible at scale, and optimized to power AI workloads across enterprise, start-up and sovereign markets. HUMAIN will oversee end-to-end delivery, including hyperscale data center, sustainable power systems, and global fiber interconnects, and AMD will provide the full spectrum of the AMD AI compute portfolio and the AMD ROCm™ open software ecosystem.

“At AMD, we have a bold vision to enable the future of AI everywhere – bringing open, high-performance computing to every developer, AI start-up and enterprise around the world,” said Dr. Lisa Su, Chair and CEO, AMD. “Our investment with HUMAIN is a significant milestone in advancing global AI infrastructure. Together, we are building a globally significant AI platform that delivers performance, openness and reach at unprecedented levels.”

“This is not just another infrastructure play – it’s an open invitation to the world’s innovators,” said Tareq Amin, CEO of HUMAIN. “We are democratizing AI at the compute level, ensuring that access to advanced AI is limited only by imagination, not by infrastructure.”

With initial deployments already underway across key global regions, the collaboration is on track to activate multi-exaflop capacity by early 2026, supported by next-gen AI silicon, modular data center zones, and a developer-enablement focused software platform stack built around open standards and interoperability.

Full-Spectrum AI at Scale

The collaboration will deliver a market-defining value proposition by combining the Kingdom’s energy resources, AI-ready workforce and forward-looking national AI policies with the AMD full-spectrum AI stack including:
- AMD Instinct™ GPUs, with industry-leading memory and inference performance.
- AMD EPYC™ CPUs, offering world-class compute density and energy efficiency.
- AMD Pensando™ DPUs, enabling scalable, secure, and programmable networking.
- AMD Ryzen™ AI, bringing on-device AI compute to the edge.
- AMD ROCm open software ecosystem with built-in support for all AI frameworks (PyTorch, SGLang, etc.)
About AMD
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ:AMD) website, blog, LinkedIn and X pages.

About Humain
HUMAIN, a PIF company, is a global artificial intelligence company delivering full-stack AI capabilities across four core areas – next-generation data centers, hyper-performance infrastructure & cloud platforms, advanced AI Models, including the world’s most advanced Arabic multimodal LLMs, and transformative AI Solutions that combine deep sector insight with real-world execution. HUMAIN’s end-to-end model serves both public and private sector organisations, unlocking exponential value across all industries, driving transformation and strengthening capabilities through human-AI synergies. With a growing portfolio of sector-specific AI products and a core mission to drive IP leadership and talent supremacy world-wide, HUMAIN is engineered for global competitiveness and national distinction. www.humain.ai

AMD, the AMD logo, AMD Instinct, AMD ROCm, EPYC, Pensando, Ryzen and combinations thereof are trademarks of Advanced Micro Devices, Inc.

Cautionary Statement
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the expected benefits of the collaboration between AMD and HUMAIN; the expected plans to deploy up to 500 megawatts of AI infrastructure over the next five years; the ability of AMD to provide its AMD AI compute portfolio and software ecosystem; and the ability of the collaboration to activate multi-exaflop capacity by 2026, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: the impact of government actions and regulations such as export regulations, tariffs and trade protection measures, and licensing requirements; Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; Nvidia’s dominance in the graphics processing unit market and its aggressive business practices; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD’s ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD’s ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD’s reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD’s reliance on Microsoft and other software vendors’ support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; long-term impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes, the revolving credit agreement and the ZT Systems credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD’s business and AMD’s ability to integrate acquired businesses, including ZT Systems; AMD’s ability to sell the ZT Systems manufacturing business; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain qualified personnel; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

The MIL Network –
May 14, 2025
MIL-OSI: Not so fast! Northwest drivers say they drive safely in neighborhoods – but point fingers at other speeders

Source: GlobeNewswire (MIL-OSI)

SEATTLE, May 13, 2025 (GLOBE NEWSWIRE) — A new poll from PEMCO Mutual Insurance recently found that a majority of Pacific Northwest drivers say they abide by the appropriate speed limit on residential neighborhood streets – but they’re far less convinced that others share the same caution.

PEMCO’s poll of Washington and Oregon residents found that 87% of drivers believe the speed limit on residential streets should be 25 mph or lower, and most (80%) say they drive the appropriate speed often. Yet, only 30% believe other drivers often abide by the appropriate neighborhood speed limit.

“Most drivers genuinely believe they’re making safe choices, especially in neighborhoods. But we also see that people are quick to notice when others fall short,” said PEMCO spokesperson Jennifer Hawton. “That gap between what we think and what we see is a great reminder to stay alert and consistent behind the wheel to prevent accidents.”

While most poll respondents share concern for driving safely in neighborhoods, speeding in general remains a widespread behavior among Northwest drivers. In fact, 59% of respondents admit they speed at least occasionally, with 22% saying they do so often – suggesting that speeding is a habit most drivers can’t resist.

What’s more, nearly three out of four drivers (72%) believe in a so-called “buffer speed” – the belief that law enforcement won’t pull them over unless they’re significantly over the limit. Most assume that buffer is between five and nine miles per hour, but 12% believe they can go 10 mph or more over the limit without consequence.

So, why do people speed? The top reason, cited by 66% of drivers, is that “everyone else is doing it,” according to the PEMCO Poll.

“We’ve polled drivers on speeding in the past, and there appears to be a consistent disconnect between what drivers believe they can get away with and the actual risks they pose,” Hawton said. “Whether you’re on the freeway or driving through your neighborhood, speed matters, and slowing down can save lives.”

For a complete summary of PEMCO’s proprietary poll results visit www.pemco.com/blog/nw-polls.

About the PEMCO Insurance Northwest Poll

PEMCO Mutual Insurance commissioned this independent survey, conducted by Qualtrics, that asked Washington and Oregon residents questions about attitudes toward current Northwest issues. The sample size, 420 respondents in the Seattle Metro (King, Snohomish, Pierce Counties) region, 402 respondents in the Portland Metro (Multnomah, Marion, Clackamas, Washington Counties), and 383 respondents in the Spokane area (Spokane and Stevens Counties) yields an accuracy of +/- 5.0% respectively at the 95% confidence level. In other words, if this study were conducted 100 times, in 95 instances the data will not vary by more than the associated error range.

About PEMCO Mutual Insurance

PEMCO Mutual Insurance has been serving the Pacific Northwest for 75 years. PEMCO provides auto, home, renters, and boat coverage. We are honored to have been recognized as a Best American Insurance Company by Forbes Magazine based on customer feedback and as one of America’s Greatest Midsize Workplaces 2025 by Newsweek. We distinguish ourselves through award-winning customer service, industry expertise, and social impact programs focused on supporting youth and education; community impact programs that build a safer, stronger Pacific Northwest. To learn more, visit www.pemco.com.

The MIL Network –

May 14, 2025
MIL-OSI: FAVO Capital Announces Participation in the D. Boral Capital Inaugural Global Conference
Source: GlobeNewswire (MIL-OSI)

FORT LAUDERDALE, Fla., May 13, 2025 (GLOBE NEWSWIRE) — via IBN — FAVO Capital, Inc. (OTC: FAVO) (“FAVO Capital” or the “Company”), a leading provider of revenue-based funding solutions for small and medium-sized businesses (SMBs), today announced that it will participate in the D. Boral Capital Inaugural Global Conference, where Shaun Quin, President of FAVO Capital, will engage with potential investors and highlight the Company’s growth strategy and market opportunities.

Conference Details:
- Date: Wednesday, May 14, 2025
- Location: New York City
- Venue: The Plaza Hotel
“We are looking forward to engaging with potential investors and learning what exactly the industry is looking for in a company about to IPO”. Said Vincent Napolitano, CEO of FAVO Capital, he added, “We believe this platform will showcase the company to new and potential investors.”

The D. Boral Capital Inaugural Global Conference is a premier event bringing together emerging growth issuers and institutional investors. With approximately seventy-five companies presenting and hundreds of institutional investors in attendance, the conference provides FAVO Capital with a platform to showcase its innovative funding solutions and engage directly with the investment community.

“We are excited to participate in the D. Boral Capital Inaugural Global Conference,” said Shaun Quin, President of FAVO Capital. “This event is an excellent opportunity for us to connect with investors, share our strategy, and highlight our growth story as we embark towards an uplisting.”

Investors attending the conference are encouraged to reach out to FAVO Capital to arrange one-on-one meetings with the Company’s management team.

About FAVO Capital, Inc.

FAVO Capital, Inc. (OTC: FAVO) is a private credit firm specializing in alternative financing solutions for small and medium-sized businesses (SMBs) across the United States. Since its inception, FAVO Capital has supported more than 10,000 businesses. FAVO Capital is committed to financial transparency, sustainable growth, and empowering SMBs with flexible funding solutions. Headquartered in Fort Lauderdale, FL, the company also has operations in New York and the Dominican Republic.

For more information, visit www.favocapital.com and follow us on LinkedIn and X.

Investor Alerts

Interested investors and shareholders are encouraged to sign up for press releases and industry updates by registering for Email Alerts at FAVO News Alerts.

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 statements include, but are not limited to, projections, estimates, and expectations regarding future trends, financial performance, and operational strategies. Forward-looking statements are often identified by words such as “expects,” “anticipates,” “intends,” “believes,” “plans,” “seeks,” “estimates,” “may,” “will,” “should,” or similar expressions.

These statements are based on the company’s current beliefs, expectations, and assumptions and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual results to differ materially from those expressed or implied. Factors that may cause such differences include, but are not limited to, market conditions, regulatory developments, competition, economic conditions, and the company’s ability to execute its business strategy.

Actual results may differ materially from those anticipated, and investors are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to update or revise any forward-looking statements to reflect events, circumstances, or changes in expectations after the date of this press release, except as required by law.

Company Contact:

FAVO Capital, Inc.
4300 N University Drive
D-105
Lauderhill, FL 33351

Investor Relations:
Scott McGowan
InvestorBrandNetwork (IBN)
Phone: 310.299.1717
ir@favocapital.com

The MIL Network –
May 14, 2025
MIL-OSI: Santech Holdings Limited Files Its Fiscal Year 2024 Annual Report on Form 20-F

Source: GlobeNewswire (MIL-OSI)

HONG KONG, May 13, 2025 (GLOBE NEWSWIRE) — Santech Holdings Ltd. (“Santech” or the “Company”) (NASDAQ: STEC) today announced that it has filed its annual report containing its audited combined financial statements for the fiscal year ended June 30, 2024 on Form 20-F with the Securities and Exchange Commission (the “SEC”) on May 13, 2025 Eastern Time. The annual report can be accessed on Santech’s investor relations website at https://ir.santechholdings.com and on the SEC’s website at http://www.sec.gov. The Company will provide hard copies of the annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be sent to ir@santechholdings.com.

About Santech Holdings Limited

Santech Holdings Limited (NASDAQ: STEC) is a technology-focused company. The Company historically served a large number of high net-worth clients in China and Hong Kong in wealth management, asset management and health management, and accumulated a large customer base. The Company has since exited or disposed of its historical businesses in financial services, and is actively exploring innovative new opportunities in technology verticals, including and not limited to consumer technologies and enterprise technologies. For more information, please visit https://ir.santechholdings.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to 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 “anticipate,” “estimate,” “forecast,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Contact:

Santech Holdings Limited
Email: ir@santechholdings.com

The MIL Network –

May 14, 2025
MIL-OSI: Chino Commercial Bank Receives Super Premier Performing Recognition

Source: GlobeNewswire (MIL-OSI)

CHINO, Calif., May 13, 2025 (GLOBE NEWSWIRE) — Chino Commercial Bank, the wholly owned subsidiary of Chino Commercial Bancorp (OTC: “CCBC”), was recently recognized by The Findley Reports on Financial Institutions by receiving Findley’s highest rating of “Super Premier Performing Bank.” The Bank, which has branches in Chino, Ontario, Rancho Cucamonga, Upland, and a new branch planned for Corona, received the recognition from Findley for its financial and operational performance during the 2024 year. The recognition by Findley was based upon multiple factors, including Profitability, Return on beginning Equity and Loan performance.

Dann H. Bowman, President and CEO, stated, “We are very pleased to receive Findley Reports’ highest rating of Super Premier Performing Bank. 2024 was a very good year for the Bank, with increased revenue, earnings and earnings per share, in addition to strong credit performance. With the Bank’s strong capital position and low loan losses, we are in a good position to expand lending to the consumers and businesses in our area.”

Contact: Dann H. Bowman, President and CEO or Melinda Milincu, Vice President and CFO, Chino Commercial Bank, N.A., 14245 Pipeline Avenue, Chino, Ca. 91710, (909) 393-8880.

The MIL Network –

May 14, 2025
MIL-OSI: U.S. Ski & Snowboard, Stifel Extend Groundbreaking Title Partnership Through 2034

Source: GlobeNewswire (MIL-OSI)

PARK CITY, Utah and ST. LOUIS, May 13, 2025 (GLOBE NEWSWIRE) — U.S. Ski & Snowboard and Stifel Financial Corp. (NYSE: SF) are proud to announce a landmark renewal of their partnership from May 2026 through April 2034. This unprecedented 8-year agreement marks the most expansive partnership in U.S. Ski & Snowboard’s history and reflects a bold, shared vision through the next three Olympic and Paralympic Winter Games.

Under the renewed agreement, Stifel will be the title partner of the Stifel U.S. Ski Team, supporting the alpine, cross country, freeski, moguls, aerials, ski jumping, nordic combined and Para alpine teams, as well as the exclusive financial services partner of U.S. Ski & Snowboard.

“As we look ahead to three Olympic and Paralympic Games, including a home Salt Lake City-Utah 2034 Games, this extended partnership with Stifel represents a generational investment in our teams and our athletes,” said Sophie Goldschmidt, President and CEO of U.S. Ski & Snowboard. “Stifel’s support has also enabled us to implement innovative new initiatives that are having a direct impact on the organization. From World Cup podiums to grassroots development, Stifel’s belief in the power of sport and our athletes has been a game-changer.”

Since launching the partnership in 2022, Stifel’s support of U.S. Ski & Snowboard has driven record-breaking performances, increased the visibility of U.S. athletes and fueled the growth of competitive skiing in the U.S. Over the initial three years of partnership, the Stifel U.S. Ski Team has achieved historic success both athletically and as an organization.

Organizationally, U.S. Ski & Snowboard has expanded its World Cup footprint in North America with the support of Stifel, bringing the total amount of World Cups from four to a record 11 in 2024-25. In the same season, the organization’s streaming and broadcast audience has doubled, earned media surpassed 30 billion impressions and social media impressions increased 70%.

2024 was also a record-breaking year for Stifel, highlighting the strength and balance of a diversified business model, achieving net revenues of $4.97 billion, the highest in the firm’s history, and delivering a 23% return on average tangible equity, with non-GAAP net earnings of $756 million, or $6.81 per share – a 46% increase from the prior year. And finally, over the year, Stifel’s share price increased 56.4%.

“The news of Stifel’s renewal as title sponsor of the Stifel U.S. Ski Team is so incredible,” said two-time Olympic champion Mikaela Shiffrin. “Ron (Kruszewski, Chairman and CEO of Stifel) and Stifel have shown amazing support for snow sports and are truly invested in the stories of our athletes and the growth of our sports, which has translated into more success on the mountain.”

“Stifel has opened up so many opportunities for us as athletes and humans looking to reach our full potential, and I am so grateful for their support and proud to be part of their team,” said Olympic champion cross country skier Jessie Diggins. “Their commitment to helping us reach the top level is incredible and makes all the difference!”

“The Stifel U.S. Ski Team partnership continuation is monumental for both parties,” said two-time Olympic medalist freeskier Alex Ferreira. “It is where success meets success. I am humbled and grateful to benefit from all sides.”

Stifel also launched innovative programs around the increased domestic World Cup events, including the Stifel HERoic Cup, designed around U.S. Ski & Snowboard’s HERoic initiative celebrating women’s sport. Stifel also invested in the Stifel Bibbo Award for the athlete who moves up the most in ranks in alpine World Cup races, and continues to support the Stifel Success Tour, development-level NorAm races in the U.S. that feed the Stifel U.S. Ski Team pipeline. Additionally, Stifel supported the Stifel Snow Show, a weekly series on CNBC, Peacock and YouTube that highlighted the achievements and stories of U.S. Ski & Snowboard athletes each week throughout the season.

The Stifel brand will remain prominently displayed on team uniforms and event signage at US events, along with a continuation of the Stifel U.S. Ski Team branding across digital and broadcast platforms. Stifel will also support a new performance bonus program for athletes and coaches based on key results during the season.

“This partnership is about helping athletes reach their full potential,” said Ron Kruszewski, Chairman and CEO of Stifel. “As the firm Where Success Meets Success, we believe in backing those who strive for excellence—and that’s exactly what these athletes do, every day. We’re proud to support them not only as champions on the podium, but as role models, teammates and leaders who inspire us all.”

QUOTES
Mikaela Shiffrin, Stifel U.S. Alpine Ski Team
The news of Stifel’s renewal as title sponsor of the Stifel U.S. Ski Team is so incredible. Ron and Stifel have shown amazing support for snow sports and truly are invested in the stories of our athletes and the growth of our sports which has translated into more success on the mountain.

Jessie Diggins, Stifel U.S. Cross Country Ski Team
Stifel has opened up so many opportunities for us as athletes and humans looking to reach our full potential, and I am so grateful for their support and proud to be part of their team. Their commitment to helping us reach the top level is incredible and makes all the difference!

Alex Ferreira, Stifel U.S. Freeski Team
The Stifel U.S. Ski Team partnership continuation is monumental for both parties. It is where success meets success. I am humbled and grateful to benefit from all sides.

Nick Page, Stifel U.S. Freestyle Ski Team
Thank you Stifel for all of your support – it means the world to have you in our corner and on our team. I’m looking forward to the future and our continued success in 2026.

Niklas Malacinski, Stifel U.S. Nordic Combined Team
Having Stifel step up as the title sponsor of the Stifel U.S. Nordic Combined Team means the world to us. It’s not just an investment in our sport but it’s a belief in our potential. Their support gives us the opportunity to focus on training and competition so we can be at our best. We’re proud to wear their name and represent the U.S. with everything we’ve got.

Andrew Kurka, Stifel U.S. Para Alpine Ski Team
Stifel has been huge supporter of the Para alpine team. Helping fund our development, pipeline and giving us the support we need to pursue our careers as athletes. Most Para sports aren’t seen as equal opportunity athletic endeavors. But the fact that Stifel stands behind us, helping to fund our team. Shows they see the big picture and treat athletes on the US Ski team as more than just philanthropic endeavors.

Tate Frantz, Stifel U.S. Ski Jumping Team
Having Stifel come on as a title sponsor is a huge boost for our team. Their support means we can keep pushing the limits and representing our country at the highest level. It’s exciting to have a partner that believes in our journey and wants to be part of the ride.

ABOUT STIFEL
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com.

ABOUT U.S. SKI & SNOWBOARD
U.S. Ski & Snowboard is the Olympic and Paralympic National Governing Body of ski and snowboard sports in the USA, based in Park City, Utah. Started in 1905, the organization now represents nearly 240 elite skiers and snowboarders competing on 10 teams: alpine, cross country, freestyle moguls, freestyle aerials, snowboard, freeski, nordic combined, ski jumping, Para alpine and Para snowboard. In addition to the elite teams, U.S. Ski & Snowboard also provides leadership and direction for tens of thousands of young skiers and snowboarders across the USA, encouraging and supporting them in achieving excellence. By empowering national teams, clubs, coaches, parents, officials, volunteers and fans, U.S. Ski & Snowboard is committed to the progression of its sports, athlete success and the value of team. For more information, visit www.usskiandsnowboard.org

FOR MORE INFORMATION
Courtney Harkins
U.S. Ski & Snowboard, Director of Marketing & Communications
courtney.harkins@usskiandsnowboard.org

Rhett Geraghty
Stifel, Director, Advisor Recruiting & Brand Marketing
geraghtyr@stifel.com

The MIL Network –

May 14, 2025
MIL-OSI: Reliance Global Group Schedules First Quarter 2025 Financial Results and Business Update Conference Call

Source: GlobeNewswire (MIL-OSI)

Lakewood, NJ, May 13, 2025 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (NASDAQ: RELI) (“Reliance” or the “Company”), announced today that it will host a conference call Wednesday, May 14, 2025, at 4:30 PM Eastern Time to discuss financial results for the first quarter 2025 and provide a business update.

The conference call will be available via telephone by dialing toll-free +1 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and entering access code 848176. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2381/52473 or on the investor relations section of the Company’s website, https://relianceglobalgroup.com/events-and-presentations/.

A webcast replay will be available on the investor relations section of the Company’s website at https://relianceglobalgroup.com/events-and-presentations/ through May 13, 2026. A telephone replay of the call will be available approximately one hour following the call, through May 27, 2025, and can be accessed by dialing +1 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 52473.

About Reliance Global Group, Inc.

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

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

The MIL Network –

May 14, 2025

Contact:	Chris Courtney/Rick McCarty
Phone:	(209) 848-BANK (2265)
	Toll Free (866) 844–7500
	www.ovcb.com