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Category: GlobeNewswire

  • MIL-OSI: Turtle Beach Corporation Announces Growth in Revenue, Adjusted EBITDA and Gross Margins in First Quarter 2025 Results and $75 Million Share Repurchase Program

    Source: GlobeNewswire (MIL-OSI)

    –Net Revenue of $63.9 million, up 14% compared to prior year–
    –Gross Margin improved to 36.6%, an increase of approximately 470 basis points compared to prior year–
    –Net Loss of $(0.7) million compared to Net Income of $0.2 million in prior year–
    –Adjusted EBITDA of $4.1 million, up from $1.4 million in prior year–
    –Generated $40.5 million in cash flow from operations, the highest level since 2019–
    –Authorized a new $75 million stock repurchase program–

    SAN DIEGO, May 08, 2025 (GLOBE NEWSWIRE) — Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories brand, today reported strong financial results, including growth in revenue, Adjusted EBITDA, and gross margins in the first quarter ended March 31, 2025.

    First Quarter Highlights

    • Net revenue was $63.9 million, an increase of 14% compared to the prior year period.
    • Gross margin improved approximately 470 basis points to 36.6% compared to 31.8% in the prior year.
    • Net loss was $(0.7) million or ($0.03) per diluted share compared to net income of $0.2 million or $0.01 per diluted share in the prior year period.
    • Adjusted EBITDA was $4.1 million, compared to $1.4 million in the prior year period.
    • Generated $40.5 million in cash flow from operations, the highest level since 2019.
    • Authorized a new $75 million stock repurchase program.

    “With incremental revenue and margin from our March 2024 acquisition of PDP, we delivered strong Q1 growth over the prior year, despite a year-to-date decline in gaming accessories markets due to current macroeconomic headwinds. Our Adjusted EBITDA growth reflects the benefits from our expanded portfolio of next-generation gaming accessories and highlights the accretive advantages of our M&A strategy and strong execution,” said Cris Keirn, CEO, Turtle Beach Corporation.

    “As we have entered into a dynamic and complex macroeconomic environment, we have rapidly adapted our operations to better position the Company for the future. We have been prepared for the potential shift in tariffs and have quickly responded.  We proactively increased inventory levels at the start of the year, and following the announcement in early April of new tariffs, we took immediate and decisive action. We are pleased to report that because of our early planning and preparedness, we are transitioning significant production out of China. As such, following the first quarter, less than 10% of our supply for the U.S. will come from China. For the remainder of 2025, our U.S. supply will primarily come from Vietnam, and we will continue evaluating and implementing further diversification of our end-to-end supply chain. Additionally, we have mitigation plans in place should additional changes occur to the current tariff environment for Vietnam. The portion of our supply chain that we continue maintaining in China will primarily be dedicated to producing goods for non-U.S. shipments.

    “Our commitment to long-term value creation extends beyond product innovation. Over the past year, we implemented the largest share repurchase program in the Company’s history, as we continue to opportunistically return capital to shareholders. The recent decision by our board of directors to authorize the repurchase of up to $75 million of our stock over the next two years signals our continued confidence in our prospects and our continued willingness to repurchase the Company’s shares.

    “Given recent events in the broader macroeconomic environment, we’ve made thoughtful revisions in our financial outlook. We remain confident in our near-term initiatives, the expertise of our team, and our ability to drive value for shareholders. Our focus on profitability, operational efficiency, and growth continues to drive our efforts as we adapt to these evolving conditions. We appreciate the ongoing support of our shareholders and stakeholders as we work toward more growth in 2026 and execute our strategy for sustainable, long-term success.”

    Share Repurchase Update
    For the first quarter ended March 31, 2025, the Company repurchased $1.8 million of common stock. Since the Company began repurchasing shares under the prior stock repurchase authorization program in the second quarter of 2024, the Company has repurchased 1.9 million shares for an aggregate purchase price of $29.5 million. In line with its continued commitment to return capital to shareholders, the Company is opportunistically assessing various potential share repurchase strategies. The Company has authorized a new stock repurchase program of up to $75 million over the next two years. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements, restrictions in the Company’s debt agreements and other factors. The Company intends to fund the share repurchases using cash from operations or short-term borrowings and may suspend or discontinue repurchases at any time. The share repurchase program is scheduled to expire on May 6, 2027.

    Balance Sheet and Cash Flow Summary
    As of March 31, 2025, the Company had net debt of $43.6 million, comprised of $55.2 million of borrowings less $11.7 million of cash. During the first quarter ended March 31, 2025, the Company generated $40.5 million in cash flow from operations, the highest level since 2019.

    Financial Outlook
    Due to the ongoing macroeconomic uncertainty and the recent industry announcements regarding new game releases, the Company is revising its financial outlook for the full year 2025. The Company currently expects gaming accessories markets to improve throughout 2025 but remain down for the full year compared to 2024, resulting in Company net revenues in the range of $340 million and $360 million. As the Company continues to execute on its profitability initiatives, it currently expects Adjusted EBITDA to be between $47 million and $53 million.

    Earnings Conference Call and Webcast Details
    Turtle Beach will host a conference call and audio webcast today, May 8, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time), during which management will discuss first quarter results and provide commentary on business performance and its current outlook for 2025. A question-and-answer session will follow the prepared remarks.

    The conference call may be accessed by telephone by dialing 877-407-0792 or 201-689-8263.

    A live audio webcast of the earnings conference call may be accessed on Turtle Beach’s website at corp.turtlebeach.com, along with a copy of this press release and an updated investor presentation. A telephone replay of the call will be available through May 22, 2025, and can be accessed by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13752645. A replay of the webcast will also be available on the investor relations website for a limited time.

    About Turtle Beach Corporation
    Turtle Beach Corporation (the “Company”) (corp.turtlebeach.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products LLC (www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: TBCH.

    Non-GAAP Financial Measures
    In addition to its reported results, the Company has included in this earnings release certain financial metrics, including Adjusted EBITDA, that the Securities and Exchange Commission define as “non-GAAP financial measures.” Management believes that such non-GAAP financial measures, when read in conjunction with the Company’s reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company’s results. Non-GAAP financial measures are not an alternative to the Company’s GAAP financial results and may not be calculated in the same manner as similar measures presented by other companies. “Adjusted EBITDA” is defined by the Company as net income (loss) before interest, taxes, depreciation and amortization, stock-based compensation (non-cash), and certain non-recurring special items that we believe are not representative of core operations, as further described in Table 4. These non-GAAP financial measures are presented because management uses non-GAAP financial measures to evaluate the Company’s operating performance, to perform financial planning, and to determine incentive compensation. Therefore, the Company believes that the presentation of non-GAAP financial measures provides useful supplementary information to, and facilitates additional analysis by, investors. The non-GAAP financial measures included herein exclude items that management does not believe reflect the Company’s core operating performance because such items are inherently unusual, non-operating, unpredictable, non-recurring, or non-cash. See a reconciliation of GAAP results to Adjusted EBITDA included as Table 4 below for the three months ended March 31, 2025, and March 31, 2024.

    By providing full year 2025 Adjusted EBITDA guidance, the Company provided its expectation of a forward-looking non-GAAP financial measure. Information reconciling full year 2025 Adjusted EBITDA to its most directly comparable GAAP financial measure, net income (loss), is unavailable to the Company without unreasonable effort due to the variability, complexity, and lack of visibility with respect to certain reconciling items between Adjusted EBITDA and net income (loss), including other income (expense), provision for income taxes and stock-based compensation. These items cannot be reasonably and accurately predicted without the investment of undue time, cost and other resources and, accordingly, a reconciliation of the Company’s Adjusted EBITDA outlook to its net income (loss) outlook for such periods is not provided. These reconciling items could be material to the Company’s actual results for such periods.

    Cautionary Note on Forward-Looking Statements
    This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions, or beliefs about future events. Statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “goal”, “project”, “intend” and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements are only predictions and are not guarantees of performance. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved. Forward-looking statements are based on management’s current beliefs and expectations, as well as assumptions made by, and information currently available to, management.

    While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to trade policies, including the imposition of tariffs on imported goods and other trade restrictions, the release and availability of successful game titles, macroeconomic conditions affecting the demand for our products, logistic and supply chain challenges and costs, dependence on the success and availability of third-parties to manufacture and manage the logistics of transporting and distributing our products, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, liquidity, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and the Company’s other periodic reports filed with the Securities and Exchange Commission. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

    CONTACTS

    Investors:
    tbch@icrinc.com
    (646) 277-1285

    Public Relations & Media:
    MacLean Marshall
    Sr. Director, Global Communications
    Turtle Beach Corporation
    (858) 914-5093
    maclean.marshall@turtlebeach.com

     
    Turtle Beach Corporation
    Condensed Consolidated Statements of Operations
    (in thousands, except per-share data)
    (unaudited)
    Table 1.
        Three Months Ended  
        March 31,     March 31,  
        2025     2024  
    Net revenue   $ 63,901     $ 55,848  
    Cost of revenue     40,534       38,062  
    Gross profit     23,367       17,786  
    Operating expenses:            
    Selling and marketing     12,453       9,013  
    Research and development     3,993       3,902  
    General and administrative     8,216       5,674  
    Insurance recovery     (3,439 )     –  
    Acquisition-related cost     608       4,910  
    Total operating expenses     21,831       23,499  
    Operating income (loss)     1,536       (5,713 )
    Interest expense     2,006       150  
    Other non-operating expense, net     303       370  
    Loss before income tax     (773 )     (6,233 )
    Income tax expense (benefit)     (109 )     (6,388 )
    Net income (loss)   $ (664 )   $ 155  
                 
    Net loss per share            
    Basic   $ (0.03 )   $ 0.01  
    Diluted   $ (0.03 )   $ 0.01  
    Weighted average number of shares:            
    Basic     20,506       18,321  
    Diluted     20,506       19,389  
     
     
    Turtle Beach Corporation
    Condensed Consolidated Balance Sheets
    (in thousands, except par value and share amounts)
    Table 2.
        March 31,     December 31,  
        2025     2024  
        (unaudited)        
    ASSETS      
    Current Assets:            
    Cash and cash equivalents   $ 11,684     $ 12,995  
    Accounts receivable, net     42,354       93,118  
    Inventories     73,664       71,251  
    Prepaid expenses and other current assets     14,533       11,007  
    Total Current Assets     142,235       188,371  
    Property and equipment, net     4,884       5,844  
    Goodwill     50,428       52,942  
    Intangible assets, net     40,382       42,398  
    Other assets     9,095       9,306  
    Total Assets   $ 247,024     $ 298,861  
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Current Liabilities:            
    Revolving credit facility   $ 6,592     $ 49,412  
    Accounts payable     39,539       34,839  
    Other current liabilities     26,294       39,421  
    Total Current Liabilities     72,425       123,672  
    Debt, non-current     45,544       45,620  
    Income tax payable     1,367       1,362  
    Other liabilities     6,814       7,603  
    Total Liabilities     126,150       178,257  
    Commitments and Contingencies            
    Stockholders’ Equity            
    Common stock     20       20  
    Additional paid-in capital     240,150       239,983  
    Accumulated deficit     (118,758 )     (118,094 )
    Accumulated other comprehensive loss     (538 )     (1,305 )
    Total Stockholders’ Equity     120,874       120,604  
    Total Liabilities and Stockholders’ Equity   $ 247,024     $ 298,861  
     
     
    Turtle Beach Corporation
    Condensed Consolidated Statements of Cash Flows
    (in thousands)
    (unaudited)
    Table 3.
        Three Months Ended  
        March 31, 2025     March 31, 2024  
           
    CASH FLOWS FROM OPERATING ACTIVITIES            
    Net (loss) income   $ (664 )   $ 155  
    Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:            
    Depreciation and amortization     1,110       916  
    Amortization of intangible assets     2,016       560  
    Amortization of debt financing costs     276       70  
    Stock-based compensation     1,912       1,105  
    Deferred income taxes     (445 )     (6,716 )
    Change in sales returns reserve     1,873       (2,410 )
    Provision for obsolete inventory     486       794  
    Changes in operating assets and liabilities, net of acquisitions:            
    Accounts receivable     48,891       35,918  
    Inventories     (2,899 )     (3,063 )
    Accounts payable     4,716       8,065  
    Prepaid expenses and other assets     (3,473 )     (357 )
    Income taxes payable     (1,401 )     2  
    Other liabilities     (11,946 )     (7,782 )
    Net cash provided by operating activities     40,452       27,257  
    CASH FLOWS FROM INVESTING ACTIVITIES            
    Purchases of property and equipment     (166 )     (731 )
    Acquisition of a business, net of cash acquired     2,515       (75,494 )
    Net cash provided by (used for) investing activities     2,349       (76,225 )
    CASH FLOWS FROM FINANCING ACTIVITIES            
    Borrowings on revolving credit facilities     65,276       80,288  
    Repayment of revolving credit facilities     (108,096 )     (80,288 )
    Proceeds of term loan     –       50,000  
    Repayment of term loan     (312 )     (104 )
    Proceeds from exercise of stock options and warrants     5       1,257  
    Repurchase of common stock     (1,750 )     –  
    Debt issuance costs     –       (3,170 )
    Net cash provided by (used for) financing activities     (44,877 )     47,983  
    Effect of exchange rate changes on cash and cash equivalents     765       75  
    Net decrease in cash and cash equivalents     (1,311 )     (910 )
    Cash and cash equivalents – beginning of period     12,995       18,726  
    Cash and cash equivalents – end of period   $ 11,684     $ 17,816  
     
     
    Turtle Beach Corporation
    GAAP to Adjusted EBITDA Reconciliation
    (in thousands)
    Table 4.
        Three Months Ended  
        March 31,  
        2025     2024  
        (in thousands)  
    Net (loss) income   $ (664 )   $ 155  
    Interest expense     2,006       150  
    Depreciation and amortization     3,126       1,476  
    Stock-based compensation     1,912       1,105  
    Income tax benefit (1)     (109 )     (6,388 )
    Restructuring expense (2)     5       41  
    Acquisition-related expense (3)     608       4,910  
    Insurance recovery (4)     (3,439 )     —  
    Loss on inventory in transit and other costs (5)     605       —  
    Adjusted EBITDA   $ 4,050     $ 1,449  
    (1) An income tax benefit of $7.0 million was recorded in the three months ended March 31, 2024 as a result of the reversal of a portion of the Company’s deferred tax asset valuation allowance.
    (2) Restructuring charges are expenses that are paid in connection with reorganization of our operations. These costs primarily include severance and related benefits.
    (3) Acquisition-related cost includes one-time costs we incurred in connection with acquisitions including warehouse lease impairment, professional fees such as legal and accounting along with other certain integration related costs.
    (4) Insurance proceeds from claims related to a loss of inventory while in transit that occurred in the fourth quarter of 2024.
    (5) Certain professional fees related to recovery initiatives in connection with a loss of Turtle Beach inventory while in transit that occurred in the fourth quarter of 2024.

    The MIL Network –

  • MIL-OSI: HCI Group Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter Diluted EPS of $5.35
    First Quarter Pre-Tax Income of $100.3 million
    Exzeo Ready to be Standalone Company

    TAMPA, Fla., May 08, 2025 (GLOBE NEWSWIRE) — HCI Group, Inc. (NYSE:HCI) reported pre-tax income of $100.3 million and net income of $74.2 million for the first quarter of 2025. Net income after noncontrolling interests was $69.7 million compared with $47.6 million in the first quarter of 2024. Diluted earnings per share were $5.35 in the first quarter of 2025, compared with $3.81 diluted earnings per share, in the first quarter of 2024.

    Management Commentary
    “HCI Group had a terrific first quarter,” said HCI Group Chairman and Chief Executive Officer Paresh Patel. “We are happy to announce that Exzeo is ready to be a standalone company. Consequently, our Board has determined to pursue a potential tax-free spin-off of Exzeo to existing HCI shareholders that, subject to customary conditions, is targeted for completion by the end of the year.”

    First Quarter 2025 Commentary
    Consolidated gross premiums earned in the first quarter of 2025 increased by 17.0% to $300.4 million from $256.6 million in the first quarter of 2024 driven primarily by assumptions of policies from Citizens Property Insurance Corporation.

    Premiums ceded for reinsurance in the first quarter of 2025 were $99.6 million compared with $68.1 million in the first quarter of 2024. The increase was primarily attributable to higher reinsurance costs due to growth in the number of policies in force and total insured value.

    Net investment income in the first quarter of 2025 was $13.8 million compared with $14.1 million in the first quarter of 2024. The decrease was primarily attributable to a decrease in income from limited partnership investments.

    Losses and loss adjustment expenses in the first quarter of 2025 were $59.3 million compared with $79.9 million in the first quarter of 2024 despite the growth in gross premiums earned. The decrease is primarily driven by a decline in claims and litigation frequency. The gross loss ratio in the first quarter was 19.7% compared to 31.1% in the first quarter of 2024.

    Policy acquisition and other underwriting expenses in the first quarter of 2025 were $27.3 million compared with $22.1 million in the first quarter of 2024 driven by higher gross premiums earned.

    General and administrative personnel expenses in the first quarter of 2025 increased to $20.5 million from $16.3 million in the first quarter of 2024. The increase was primarily attributable to higher accrued discretionary bonus, stock-based compensation and employee health benefits.

    Conference Call
    HCI Group will hold a conference call later today, May 8, 2025, to discuss these financial results. Chairman and Chief Executive Officer Paresh Patel, Chief Operating Officer Karin Coleman and Chief Financial Officer Mark Harmsworth will host the call starting at 4:45 p.m. Eastern time.

    Interested parties can listen to the live presentation by dialing the listen-only number below or by clicking the webcast link available on the Investor Information section of the company’s website at www.hcigroup.com.

    Listen-only toll-free number: (888) 506-0062
    Listen-only international number: (973) 528-0011
    Entry Code: 325047

    Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at (949) 574-3860.

    A replay of the call will be available by telephone after 8:00 p.m. Eastern time on the same day as the call and via the Investor Information section of the HCI Group website at www.hcigroup.com through May 8, 2026.

    Toll-free replay number: (877) 481-4010
    International replay number: (919) 882-2331
    Replay ID: 52364

    About HCI Group, Inc.
    HCI Group, Inc. is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results.

    The company’s common shares trade on the New York Stock Exchange under the ticker symbol “HCI” and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.

    Forward-Looking Statements
    This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. For example, the estimation of reserves for losses and loss adjustment expenses is an inherently imprecise process involving many assumptions and considerable management judgment. In addition, there can be no assurance the Internal Revenue Service will determine the company’s proposed spinoff will be tax free to HCI shareholders. Some of these risks and uncertainties are identified in the company’s filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company’s business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.

    Company Contact:
    Bill Broomall, CFA
    Investor Relations
    HCI Group, Inc.
    Tel (813) 776-1012
    wbroomall@typtap.com

    Investor Relations Contact:
    Matt Glover
    Gateway Group, Inc.
    Tel (949) 574-3860
    HCI@gateway-grp.com

     
    – Tables to follow –
     
    HCI GROUP, INC. AND SUBSIDIARIES
    Selected Financial Metrics
    (Dollar amounts in thousands, except per share amounts)
     
      Q1 2025   Q1 2024   FY 2024  
      (Unaudited)   (Unaudited)      
    Insurance Operations            
    Gross Written Premiums:            
    Homeowners Choice $ 117,133   $ 91,875   $ 593,943  
    TypTap Insurance Company   142,396     143,624     491,413  
    Condo Owners Reciprocal Exchange   7,731     19,487     81,411  
    Tailrow Reciprocal Exchange   21,985     –     –  
    Total Gross Written Premiums   289,245     254,986     1,166,767  
                 
    Gross Premiums Earned:            
    Homeowners Choice   156,489     149,271     589,137  
    TypTap Insurance Company   124,447     103,748     442,876  
    Condo Owners Reciprocal Exchange   15,325     3,625     51,207  
    Tailrow Reciprocal Exchange   4,122     –     –  
    Total Gross Premiums Earned   300,383     256,644     1,083,220  
                 
    Gross Premiums Earned Loss Ratio   19.7 %   31.1 %   34.6 %
                 
    Per Share Metrics            
    Diluted EPS $ 5.35   $ 3.81   $ 8.89  
                 
    Dividends per share $ 0.40   $ 0.40   $ 1.60  
                 
    Book value per share at the end of period $ 48.55   $ 38.50   $ 42.10  
                 
    Shares outstanding at the end of period   10,765,336     10,276,463     10,767,184  
     
    HCI GROUP, INC. AND SUBSIDIARIES
    Consolidated Balance Sheets
    (Dollar amounts in thousands)
     
      March 31, 2025     December 31, 2024  
      (Unaudited)        
    Assets          
    Fixed-maturity securities, available for sale, at fair value (amortized cost: $651,071 and $719,536, respectively and allowance for credit losses: $0 and $0, respectively) $ 652,861     $ 718,537  
    Equity securities, at fair value (cost: $52,962 and $52,030, respectively)   55,226       56,200  
    Limited partnership investments   20,176       20,802  
    Real estate investments   80,151       79,120  
    Total investments   808,414       874,659  
               
    Cash and cash equivalents   754,481       532,471  
    Restricted cash   3,722       3,714  
    Accrued interest and dividends receivable   7,650       6,008  
    Income taxes receivable   —       463  
    Deferred income taxes, net   1,502       72  
    Premiums receivable, net (allowance: $4,684 and $5,891, respectively)   54,704       50,582  
    Prepaid reinsurance premiums   38,009       92,060  
    Reinsurance recoverable, net of allowance for credit losses:          
    Paid losses and loss adjustment expenses (allowance: $0 and $0, respectively)   46,335       36,062  
    Unpaid losses and loss adjustment expenses (allowance: $151 and $186, respectively)   481,434       522,379  
    Deferred policy acquisition costs   56,398       54,303  
    Property and equipment, net   30,237       29,544  
    Right-of-use-assets – operating leases   1,124       1,182  
    Intangible assets, net   4,565       5,206  
    Funds withheld for assumed business   8,451       11,690  
    Other assets   9,642       9,818  
               
    Total assets $ 2,306,668     $ 2,230,213  
               
    Liabilities and Equity          
    Losses and loss adjustment expenses $ 798,146     $ 845,900  
    Unearned premiums   573,565       584,703  
    Advance premiums   37,807       18,867  
    Reinsurance payable on paid losses and loss adjustment expenses   —       2,496  
    Ceded reinsurance premiums payable   19,779       18,313  
    Assumed premiums payable   3,582       2,176  
    Accrued expenses   29,110       17,677  
    Income tax payable   33,378       5,451  
    Deferred income taxes, net   3,661       2,830  
    Revolving credit facility   42,000       44,000  
    Long-term debt   185,332       185,254  
    Lease liabilities – operating leases   1,131       1,185  
    Other liabilities   34,708       32,320  
               
    Total liabilities   1,762,199       1,761,172  
               
    Commitments and contingencies          
    Redeemable noncontrolling interest   1,637       1,691  
               
    Equity:          
    Common stock, (no par value, 40,000,000 shares authorized, 10,765,336 and 10,767,184 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively)   —       —  
    Additional paid-in capital   124,170       122,289  
    Retained income   397,171       331,793  
    Accumulated other comprehensive loss, net of taxes   1,342       (749 )
    Total stockholders’ equity   522,683       453,333  
    Noncontrolling interests   20,149       14,017  
    Total equity   542,832       467,350  
               
    Total liabilities, redeemable noncontrolling interest, and equity $ 2,306,668     $ 2,230,213  
     
    HCI GROUP, INC. AND SUBSIDIARIES
    Consolidated Statements of Income
    (Unaudited)
    (Dollar amounts in thousands, except per share amounts)
     
      Three Months Ended  
      March 31,  
      2025     2024  
    Revenue          
               
    Gross premiums earned $ 300,383     $ 256,644  
    Premiums ceded   (99,635 )     (68,106 )
               
    Net premiums earned   200,748       188,538  
               
    Net investment income   13,751       14,067  
    Net realized investment gains   1,167       —  
    Net unrealized investment (losses) gains   (1,906 )     2,635  
    Policy fee income   2,229       1,019  
    Other   444       355  
               
    Total revenue   216,433       206,614  
               
    Expenses          
               
    Losses and loss adjustment expenses   59,291       79,922  
    Policy acquisition and other underwriting expenses   27,287       22,139  
    General and administrative personnel expenses   20,483       16,274  
    Interest expense   3,384       3,149  
    Other operating expenses   5,649       7,700  
               
    Total expenses   116,094       129,184  
               
    Income before income taxes   100,339       77,430  
               
    Income tax expense   26,109       20,474  
               
    Net income $ 74,230     $ 56,956  
    Net income attributable to redeemable noncontrolling interests   —       (10,149 )
    Net (income) loss attributable to noncontrolling interests   (4,546 )     804  
               
    Net income after noncontrolling interests $ 69,684     $ 47,611  
               
    Basic earnings per share $ 6.47     $ 4.76  
               
    Diluted earnings per share $ 5.35     $ 3.81  
               
    Dividends per share $ 0.40     $ 0.40  
     
    HCI GROUP, INC. AND SUBSIDIARIES
    (Amounts in thousands, except per share amounts)
     
    A summary of the numerator and denominator of basic and diluted earnings per common share calculated in accordance with GAAP is presented below.
     
      Three Months Ended     Three Months Ended  
      March 31, 2025     March 31, 2024  
      Income     Shares (a)     Per Share     Income     Shares (a)     Per Share  
      (Numerator)     (Denominator)     Amount     (Numerator)     (Denominator)     Amount  
    Net income $ 74,230                 $ 56,956              
    Less: Net income attributable to redeemable noncontrolling interests   —                   (10,149 )            
    Less: Net (income) loss attributable to noncontrolling interests   (4,546 )                 804              
    Net income attributable to HCI   69,684                   47,611              
    Less: Income attributable to participating securities   (3,103 )                 (1,218 )            
    Basic Earnings Per Share:                                  
    Income allocated to common stockholders   66,581       10,286     $ 6.47       46,393       9,751     $ 4.76  
                                       
    Effect of Dilutive Securities:                                  
    Stock options   —       350             —       280        
    Convertible senior notes   1,873       2,142             1,640       2,282        
    Warrants   —       7             —       305        
                                       
    Diluted Earnings Per Share:                                  
    Income available to common stockholders and assumed conversions $ 68,454       12,785     $ 5.35     $ 48,033       12,618     $ 3.81  
                                       
    (a) Shares in thousands.  
       

    The MIL Network –

  • MIL-OSI: Canyon GBS Joins EDUCAUSE Webinar to Spotlight Practical, Compliant AI for Colleges and Universities

    Source: GlobeNewswire (MIL-OSI)

    Scottsdale, Arizona, May 08, 2025 (GLOBE NEWSWIRE) — Canyon GBS, a leader in AI-powered SaaS solutions for higher education, has announced its participation in an EDUCAUSE Industry Insights webinar titled “Unlocking AI’s Potential in Higher Ed” on Tuesday, May 13, 2025, from 2:00 p.m. to 3:00 p.m. Eastern Time. Joseph Licata, JD, Founder and CEO of Canyon GBS, will join a panel of experts to spotlight how compliant, AI-driven solutions can enhance advising, admissions, teaching, and IT operations while maintaining strict data privacy standards.

    Promotional banner for the EDUCAUSE webinar “Unlocking AI’s Potential in Higher Ed,” live on May 13, 2025, featuring Joseph Licata of Canyon GBS, Dr. George Kriss of Kaskaskia College, and Austin Laird of the Gates Foundation.

    As part of the EDUCAUSE Leadership Series, the webinar provides a vendor-agnostic forum where higher-education leaders can evaluate emerging technologies without product bias.

    FEATURED SPEAKERS

    • Joseph Licata, JD — Founder and CEO, Canyon GBS
    • Dr. George Kriss — Chief Information Officer, Kaskaskia College
    • Austin Laird — Sr. Program Officer, Gates Foundation

    WHY ATTEND

    • Learn how institutions are using AI to empower staff and improve student outcomes.
    • Review governance frameworks that protect sensitive data while enabling innovation.
    • Explore change-management tactics that drive rapid adoption across academic and administrative units.

    BONUS RESOURCE

    All registrants will receive immediate access to the AI Playbook for Higher Education Leadership, a practical guide that the panel will reference throughout the broadcast.

    REGISTRATION DETAILS

    The webinar is free of charge, and an EDUCAUSE profile is required to register. Those unable to attend live will automatically receive a recording after the event. More than 600 higher-education professionals have already secured their seats.

    Register now: https://events.educause.edu/webinar/2025/unlocking-ais-potential-in-higher-ed

    Canyon GBS® is a registered trademark of Canyon GBS LLC. EDUCAUSE® is a registered trademark of EDUCAUSE. All other trademarks are the property of their respective owners.


    About Canyon GBS

    A Phoenix-based tech innovator, we develop impactful AI-powered SaaS solutions for higher education and government agencies—providing more affordable products that enable staff to excel in their daily responsibilities.

    Press inquiries

    Canyon GBS
    https://canyongbs.com
    Lindsay Consalvos
    media@canyongbs.com
    520-357-1351

    The MIL Network –

  • MIL-OSI: Franklin Electric Announces Appointment of Jennifer L. Sherman as Chairperson; Mark Carano Elected to be a Director of the Company

    Source: GlobeNewswire (MIL-OSI)

    FORT WAYNE, Ind., May 08, 2025 (GLOBE NEWSWIRE) — The Board of Directors of Franklin Electric Co., Inc. (NASDAQ: FELE) has elected Jennifer L. Sherman, President and Chief Executive Officer of Federal Signal Corporation, as Chairperson effective as of May 2, 2025 for a term expiring at the 2026 Annual Meeting of Shareholders. Ms. Sherman has been a Director of the Company since 2015. Joe Ruzynski, the Company’s Chief Executive Officer, commented: “I want to congratulate Jennifer on her election as Chairperson of Franklin Electric. She knows the Company well, having served on our Board of Directors for 10 years, and I am looking forward to working closely with her to further develop and refine Franklin’s strategy.”

    In addition, the Company is pleased to announce that Mark A. Carano, Vice President, Chief Financial Officer and Treasurer of SPX Technologies, Inc. has been appointed as a director of the Company effective May 7, 2025 for a term expiring at the 2027 Annual Meeting of Shareholders. Mr. Carano has served in that role since 2023. Prior thereto, Mr. Carano served as Senior Vice President, Chief Financial Officer and Treasurer of Insteel Industries, Inc., and Chief Financial Officer of Big River Steel LLC, following 14 years in investment banking.

    Mr. Carano earned a Bachelor of Arts degree from Vanderbilt University and an MBA from Northwestern University’s Kellogg Business School.

    Ms. Sherman, Franklin’s Chairperson of the Board, commented: “I have confidence that Mark’s extensive financial and manufacturing sector experience will provide a unique perspective to our deliberations. His investment banking and corporate deal-making experience will be invaluable as Franklin Electric continues to look for opportunities to grow through accretive acquisitions. I join my fellow directors in welcoming Mark to the Board and we look forward to benefitting from his leadership and expertise.”

    About Franklin Electric
    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers worldwide in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be recognized in Newsweek’s lists of America’s Most Responsible Companies 2024, Most Trustworthy Companies 2024, and Greenest Companies 2025; Best Places to Work in Indiana 2024; and America’s Climate Leaders 2024 by USA Today.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    Contact:
    Russ Fleeger
    Franklin Electric Co., Inc.
    260.824.2900

    The MIL Network –

  • MIL-OSI: Mattermost and Qrypt Announce Joint Development Program for Quantum Secure End-to-End Encryption Collaboration Platform

    Source: GlobeNewswire (MIL-OSI)

    Baltimore, MD, May 08, 2025 (GLOBE NEWSWIRE) — Mattermost, the leading provider of secure collaboration and workflow for sensitive data environments, and Qrypt, a pioneer in quantum-secure encryption, today announced a Joint Development Program to deliver quantum-secure end-to-end encryption (E2EE) integrated within the Mattermost platform. The collaboration was officially unveiled at TechNet Cyber 2025. 

    This program enables early customers to actively participate in tailoring the solution to their specific operational needs, ensuring both immediate and long-term protection of critical data in the face of advancing cyber threats, including those posed by quantum computing. 

    “Our collaboration with Qrypt addresses an urgent need for quantum-secure communication solutions capable of safeguarding national security organizations against emerging threats,” said Dr. Bill Anderson, Principal Product Manager for Mattermost. “By combining Mattermost’s trusted platform with Qrypt’s quantum-secure encryption framework, we’re enabling customers to future-proof their sensitive communications.” 

    The integration leverages Qrypt’s BLAST protocol and unique quantum entropy, ensuring secure communication by eliminating key transmission risks, providing resilience by design, and seamlessly integrating quantum-secure E2EE into Mattermost’s user-friendly interface. This solution ensures that messages are secure both now and into the post-quantum future. 

    Key features of the integrated solution include: 

    • Quantum-Secure E2EE: Encryption per message with no single points of failure. 
    • Quantum Entropy Source: Leveraging the only US NIST ESV-certified source of quantum entropy for maximum security. 
    • Secure Channels: End-to-End secure channels protect sensitive team collaboration.   
    • Endpoint Protection: Robust protection ensuring that message content remains inaccessible without proper keys, even if a device is compromised. 
    • Ephemeral Messaging: Users can configure messages to expire, ensuring minimal data persistence. 
    • Deployment Flexibility: Available for on-premises, hosted, or cloud environments aligned with regulated and sovereign mandates. 
       

    “The quantum industry is advancing at a pace that compresses our cybersecurity timelines,” said Kevin Chalker, CEO of Qrypt. “This partnership with Mattermost is a critical step in transitioning to stronger encryption technologies, ensuring sensitive communications remain secure against today’s threats and the quantum risks on the near horizon.” 

    Early customers interested in joining the Joint Development Program and shaping the future of quantum-secure communication can visit Mattermost or Qrypt at TechNet Cyber Booth 3359, or at their respective websites. 

    About Mattermost: 
    Mattermost is the leading secure collaborative workflow platform that meets the unique requirements of defense, intelligence, and critical infrastructure organizations. Mattermost provides organizations with complete control over their sensitive communications and data. 

    About Qrypt: 
    Qrypt delivers quantum-secure encryption solutions, leveraging groundbreaking technology designed by leading cryptographic experts. Qrypt’s solutions are adopted across industries where the highest standards of security and privacy are required.  

    The MIL Network –

  • MIL-OSI: Best Online Casinos: JACKBIT Ranked As Top Online Casino Of 2025

    Source: GlobeNewswire (MIL-OSI)

    LARNACA, Cyprus, May 08, 2025 (GLOBE NEWSWIRE) — The online gambling industry is thriving, with countless platforms competing to be recognized as the best online casinos. For players seeking the most trusted online casino, navigating this crowded landscape can be overwhelming.

    Our team of experts conducted an exhaustive evaluation of over 100 online gambling sites, assessing licensing, security, game variety, bonuses, payout speeds, and customer support. After rigorous testing, JACKBIT Casino emerged as the best online casino for 2025.

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    A Closer Look At The Best Online Casino: JACKBIT Casino

    JACKBIT Casino has redefined excellence in online gambling, earning its place as the best online casino through innovation and quality. Launched in 2022, this new crypto casino has rapidly gained traction for its vast offerings and commitment to player satisfaction. Licensed by the Curacao Gaming Authority, JACKBIT ensures a secure and fair gaming environment, making it a legit casino online for players seeking reliability and trust.

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    Legal Disclaimer

    This content is for informational and entertainment purposes only and does not constitute legal, financial, or gambling advice. Information is presented “as is,” without warranties. Readers must verify compliance with local gambling laws. The publisher is not liable for losses or consequences.

    Affiliate Disclosure

    Some links may be affiliate links, earning a commission at no cost to you. Recommendations are objective, and partnerships do not influence content.

    Email: support@JACKBIT.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7307b375-0e00-45a3-aafd-693b0e28892e

    The MIL Network –

  • MIL-OSI: Kajeet Urges House to Support Schools and Libraries Counting on E-Rate Funding for Hotspots

    Source: GlobeNewswire (MIL-OSI)

    MCLEAN, Va., May 08, 2025 (GLOBE NEWSWIRE) — Following today’s Congressional Review Act (CRA) block of the Federal Communications Commission Wi-Fi hotspots order, which removes E-Rate funding eligibility for these devices, Kajeet®, a leading provider of managed internet solutions for education, expressed confidence the House of Representatives will recognize the profound benefits of hotspots. To continue its mission, Kajeet affirmed its commitment to honoring E-Rate pricing to help schools and libraries secure critical connectivity.

    While the CRA reversal presents a setback to efforts aimed at funding off-campus student Wi-Fi hotspots through E-Rate, Kajeet encourages the House to carefully consider the compelling data demonstrating the effectiveness and safety of managed hotspots. It is an undeniable reality that over 70% of students rely on out-of-school internet access for homework, underscoring the critical need for reliable home connectivity. The pandemic starkly illuminated the deep disparities that exist, with countless families depending on public Wi-Fi at locations like libraries, hospitals, and even fast-food restaurants to enable their students to complete assignments.

    “Every day, teachers across the nation grapple with the challenges faced by students who lack internet access at home, a significant barrier to learning in today’s digital world,” said Ben Weintraub, CEO of Kajeet. “We are resolute in our commitment and want to help these impacted districts and libraries pivot quickly.”

    Kajeet’s solutions prioritize student safety and security with robust content filtering and management tools that comply with educational requirements and the Children’s Internet Protection Act (CIPA). Last year, Kajeet Sentinel blocked billions of student attempts to access TikTok and other non-educational sites. This regulated filtering, with parameters set by school administrators based on grade level, has proven effective.

    Thousands of schools and libraries across the country applied for hotspot funding this year. It is estimated that this reversal could potentially impact more than 6 million individuals nationwide. As districts and libraries now face the pressing task of identifying alternative funding sources, Kajeet stands firm in its commitment to providing affordable and secure connectivity solutions.

    “We fully recognize the significant impact this E-Rate reversal for hotspots will have on districts’ carefully laid plans to provide essential off-campus connectivity,” added Weintraub. “By honoring E-Rate pricing, we aim to provide immediate stability and empower districts to continue their indispensable programs without disruption, ensuring that no student is left behind.”

    To take advantage of this limited E-Rate offer, please visit our website.

    About Kajeet:

    Kajeet provides optimized IoT connectivity, software and hardware solutions that deliver safe, reliable, and controlled internet connectivity to nearly 3,000 businesses, schools and districts, state, and local governments. Kajeet’s award-winning management platform, Sentinel®, includes visibility into real-time data usage, policy control management, custom content filters for added security, and multi-network flexibility. Since 2003, Kajeet has helped thousands of organizations connect over a million devices around the world. To learn more, visit kajeet.com

    Media Contact:

    Linda Jennings, Kajeet Corporate Communications

    248-521-3606 ljennings@kajeet.com

    The MIL Network –

  • MIL-OSI: Mountain America Credit Union Recognized as Utah’s Top SBA 7(a) Lender for Fourth Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    SANDY, Utah, May 08, 2025 (GLOBE NEWSWIRE) — Mountain America Credit Union has once again been recognized by the Utah District Office of the U.S. Small Business Administration (SBA) as the state’s top 7(a) lender by dollar amount for 2024. The award was presented during the SBA’s annual awards ceremony held on May 1, 2025.

    A Media Snippet accompanying this announcement is available in this link.

    This honor marks the fourth consecutive year that Mountain America has earned the distinction, having previously received the top 7(a) lender recognition in 2021, 2022, and 2023. The SBA 7(a) loan program is the agency’s primary vehicle for providing financial assistance to small businesses, and this award underscores Mountain America’s continued commitment to supporting the local business community.

    “At Mountain America, we believe small businesses are the heartbeat of our communities. We’re honored to be recognized by the SBA once again, and this achievement reflects our ongoing dedication to helping entrepreneurs succeed,” said Sterling Nielsen, president and CEO of Mountain America Credit Union. “Our business lending team works tirelessly to provide the resources, guidance, and capital our local business owners need to grow and thrive.”

    In addition to the Utah SBA district rankings, Mountain America stands as the nation’s top credit union SBA lender for total number of loans.

    Through its partnership with the SBA, Mountain America has helped hundreds of small businesses gain access to the funding they need to expand operations, create jobs, and build a stronger Utah economy. The credit union continues to enhance its lending services and outreach to ensure business owners receive timely, personalized financial solutions.

    Empowering Small Business Success Stories

    Mountain America’s impact can be seen in the success of its business members, like Alfonso Porras, owner of Sir Walter Candy Company. Sir Walter Candy Company was recently named the 2025 Small Business of the Year and Porras will go on to compete at the national level. His journey highlights the power of small business innovation and resilience, backed by strong financial partnerships.

    “It’s an incredible honor to be named the 2025 Small Business of the Year. Mountain America believed in our vision and helped us grow when we needed it most,” said Porras. “Their support has been key to our success and continues to empower us to dream bigger.”

    Additionally, Mountain America played a pivotal role in the success of Sun Print Solutions, co-owned by Jennifer Pettinger and Sara Deneau. In 2024, they were honored with the Woman-Owned Small Business of the Year award. A beacon of success in a traditionally male-dominated industry, Sun Print Solutions was recognized for its business innovation, leadership, and community involvement. When they needed assistance purchasing the land their business occupied, they turned to Mountain America for support, securing a foundation for continued growth.

    According to the SBA’s 2024 Small Business Profile, the 34.8 million small businesses in the United States account for more than 99.9% of all businesses. These small businesses provide jobs to 59 million people, representing 45.9% of private sector employees in the U.S.

    Mountain America offers a variety of financial resources and options to small business owners. These services include expert guidance and resources to improve business productivity and streamline finances through attentive, personalized services. This is achieved by featuring a full cash management suite of products, enhanced expense management business credit card software, merchant services, and top-of-market deposit rates.

    To learn more about Mountain America’s small business solutions, please visit macu.com/business.

    Loans are made on approved credit.

    About Mountain America Credit Union
    With more than 1 million members and $20 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across multiple states, and more than 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com.

    Contact: publicrelations@macu.com, macu.com/newsroom

    The MIL Network –

  • MIL-OSI: Bigbank AS Results for April 2025

    Source: GlobeNewswire (MIL-OSI)

    Bigbank’s loan portfolio grew by 55 million euros in April, representing the highest monthly increase so far this year. The growth continues to be driven by key products: the corporate loan portfolio increased by 26 million euros, and the home loan portfolio increased by 20 million euros. The consumer loan portfolio grew by 9 million euros.

    The deposit portfolio decreased by a total of 12 million euros in April. The larger liquidity buffer accumulated in the first quarter enabled continued optimisation of deposit pricing across all Bigbank markets during April. As a result, the volume of term deposits declined by 50 million euros, while the volume of savings deposits increased by 37 million euros. As the interest rates on term and savings deposits have decreased, customers are increasingly opting for the more flexible savings deposit product when placing new deposits.

    Net interest income at the end of April was 0.6 million euros, or 2%, lower year-on-year. On the interest income side, the growing loan portfolio has so far been sufficient to offset the lower income resulting from the decline in Euribor. However, interest expenses have grown at a slightly faster pace, as the drop in deposit interest rates has lagged behind the decline in Euribor and the deposit portfolio has expanded.

    One of the most positive developments in April was that the net allowance for expected credit losses remained significantly lower than in the same period last year. This is mainly due to improved repayment behaviour in the consumer loan portfolios of the Baltic countries. Despite the significant growth in the loan portfolio, the net allowance for expected credit losses and provision expenses decreased by a total of 4.2 million euros, or 42%, in the first four months of the year compared to the same period in 2024.

    Net profit in April amounted to 3.0 million euros – a solid result considering the continued decline in interest rates. It is also encouraging that the lower net interest income compared to last year has been compensated by lower expected credit losses, reduced administrative expenses, and growing net fee income. One of the key contributors to the strong performance is Bigbank’s dedicated and expanding team. At the same time, the growing team has increased salary expenses by 1.3 million euros over the four-month period. A negative development has been the 1.1 million euro increase in income tax expenses over the same period, mainly due to higher income tax rates introduced in Estonia and Lithuania at the beginning of 2025.

    Bigbank’s key financial indicators for April 2025:

    • Customer deposits and loans received increased by 358 million euros over the year, reaching 2.55 billion euros (+16%).
    • Loans to customers grew by 573 million euros year-on-year, reaching 2.37 billion euros (+32%).
    • Net interest income totalled 8.4 million euros in April; the four-month total reached 34.0 million euros. Compared to the same period last year, net interest income declined by 0.6 million euros (–2%).
    • Net allowance for expected credit losses and provision expenses totalled 5.8 million euros in the first four months of the year, down 4.2 million euros or 42% year-on-year.
    • Net profit in April was 3.0 million euros. Cumulative profit for the first four months amounted to 12.9 million euros, an increase of 3.6 million euros or 38% compared to the same period in 2024.
    • Return on equity in April was 13.4%.
    Income statement, in thousands of euros Apr 2025 YTD25 YTD24 Difference YoY
    Total net operating income, incl. 9,082 38,236 37,598 638 +2%
    Net interest income 8,384 33,958 34,592 -634 -2%
    Net fee and commission income 853 3,376 2,901 475 +16%
    Total expenses, incl. -4,131 -16,485 -16,421 -64 +0%
    Salaries and associated charges -2,517 -9,993 -8,734 -1,259 +14%
    Administrative expenses -898 -3,650 -4,943 1,293 -26%
    Profit before loss allowances 4,951 21,751 21,177 574 +3%
    Net allowance for expected credit losses and provision expenses -1,178 -5,813 -9,965 4,152 -42%
    Income tax expense -737 -3,038 -1,892 -1,146 +61%
    Profit for the period from continuing operations 3,036 12,900 9,320 3,580 +38%
    Profit or loss before tax from discounted operations 0 0 29 -29  
    Profit for the period 3,036 12,900 9,349 3,551 +38%
               
               
    Business volumes, in thousands of euros Apr 2025 YTD25 YTD24 Difference YoY
    Customer deposits and loans received 2,548,170 2,548,170 2,190,221 357,949 +16%
    Loans to customers 2,367,531 2,367,531 1,794,458 573,073 +32%
               
    Key figures Apr 2025 YTD25 YTD24 Difference YoY
    ROE 13.4% 14.2% 11.4% +2.8pp  
    Cost / income ratio (C/I) 45.5% 43.1% 43.7% -0.6pp  
    Net promoter score (NPS) 59 58 58 +0  

    Compared to the financial results published for April 2024, the net interest income and the net allowance for expected credit losses for the prior period have been adjusted, both reduced by 0.6 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure rather than on a net basis. This correction does not impact the net profit for April 2024.

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 April 2025, the bank’s total assets amounted to 2.9 billion euros, with equity of 274 million euros. Operating in nine countries, the bank serves more than 170,000 active customers and employs over 550 people. The credit rating agency Moody’s has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Telephone: +372 5393 0833
    Email: argo.kiltsmann@bigbank.ee
    www.bigbank.ee

    The MIL Network –

  • MIL-OSI: Applied Releases Commercial Lines Premium Rate Index Findings for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Toronto, ON, May 08, 2025 (GLOBE NEWSWIRE) — Applied Systems® today announced the first quarter 2025 results of the Applied Commercial Index™, the Canadian insurance industry’s premium rate index. Overall, the magnitude of rate increases was down across all lines relative to average premium renewals in the same quarter last year with 3.85% in Q1 2025 down from 6.14% in Q1 2024. All lines of business saw decreases compared to the same quarter last year.

    Quarter over quarter, Q1 2025 results showed average renewal rate change decreased across all lines of the most commonly placed Commercial Lines categories, including Real Estate Property, Business and Professional Services, Construction, Hospitality Services, and Retail Services.

    Significant findings include: 

    • Business and Professional Services: Q1 2025 premium renewal rate change average was 3.99%, down from the Q4 2024 average of 5.48%.     
    • Construction, Erection, and Installation Services: Premium renewal rate change average was 3.85% for the quarter, down from the Q4 2024 average of 4.78%.
    • Hospitality Services: Q1 2025 premium renewal rate change average was 3.08%, down from the Q4 2024 average of 3.79%.
    • Real Estate Property: Premium renewal rate change average was 3.58% for the quarter, down from the Q4 2024 average of 4.59%.
    • Retail Services: Premium renewal rate change averaged 4.57%, down relative to the Q4 2024 average of 6.84%.

    “This quarter’s average premium renewal rate change across all industries have somewhat dissipated, limiting the tailwind they provided over the recent period and therefore putting a greater focus on margins,” said Steve Whitelaw, SVP and general manager, Canada, Applied Systems. “As brokers begin their renewal conversations, the Applied Commercial Index will help them focus on specific lines that will foster more profitable growth opportunities.”

    Access the complete quarterly report here.                                                       

    # # #

    Applied Commercial Index is a trademark of Applied Systems, Inc. All data is fully anonymized when aggregating and analyzing the Applied Commercial Index.

    About Applied Systems
    Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.

    The MIL Network –

  • MIL-OSI: ASSOCIATED CAPITAL GROUP, INC. Reports First Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    • Performance for our Merger Arbitrage strategy in the first quarter was 3.8% before expenses and 2.8% after expenses
    • Assets Under Management (“AUM”): $1.27 billion at March 31, 2025 compared to $1.25 billion at December 31, 2024
    • Book Value per share ended the quarter at $42.51 per share vs $42.14 per share at December 31, 2024

    GREENWICH, Conn., May 08, 2025 (GLOBE NEWSWIRE) — Associated Capital Group, Inc. (“AC” or the “Company”), a diversified financial services company, today reported its financial results for the first quarter ended March 31, 2025.

    In March 2025, Doug Jamieson retired as our Chief Executive Officer and President but will continue serving the Company as a Director. We thank him for his years of dedicated service and look forward to his continued contributions as a member of the Board of Directors. Patrick Huvane was named Interim Chief Executive Officer upon Doug Jamieson’s retirement.

    “The prospects for Associated Capital Group remain strong and we are well positioned to grow value in the face of an uncertain environment. I am privileged to take on this opportunity to serve AC shareholders.” Mr. Huvane said.

    Financial Highlights
    ($ in 000’s except AUM and per share data)

     (Unaudited)   Three months ended  
        March 31,     December 31,     March 31,  
        2025     2024     2024  
    AUM – end of period (in millions)   $ 1,268     $ 1,248     $ 1,549  
    AUM – average (in millions)     1,261       1,291       1,556  
                             
    Revenues     2,129       5,154       3,011  
    Operating loss before management fee (Non-GAAP)     (4,185 )     (3,059 )     (2,988 )
    Investment and other non-operating income, net     15,834       4,372       22,625  
    Income before income taxes     10,546       1,179       17,655  
                             
    Net income     7,669       4,280       13,821  
    Net income per share-diluted     0.36       0.20       0.64  
                             
    Class A shares outstanding (000’s)     2,194       2,234       2,469  
    Class B ” “     18,951       18,951       18,951  
    Total ” “     21,145       21,185       21,420  
                             
    Book value per share   $ 42.51     $ 42.14     $ 42.80  


    First Quarter Financial Data

    • Assets under management ended the quarter at $1.27 billion versus $1.25 billion at December 31, 2024. 
    • Book value was $42.51 per share at March 31, 2025 versus $42.14 per share at December 31, 2024. 

    First Quarter Results

    Total revenues in the first quarter were $2.1 million compared to $3.0 million in the first quarter of 2024.  Revenues generated by the GAMCO International SICAV – GAMCO Merger Arbitrage (the “SICAV”) were $0.9 million versus $1.7 million in the prior year period due to lower average AUM in 2025. All other revenues were $1.2 million compared to $1.3 million in the year-ago quarter.

    Total operating expenses, excluding management fee, were $6.3 million in the first quarter of 2025 and $6.0 million in the first quarter of 2024. The increase is driven primarily by $0.9 million of mark to market expense on phantom RSA’s driven by an increase in AC’s stock price compared to 2024, partially offset by lower variable-based sales and marketing costs on the SICAV of $0.6 million.

    Net investment and other non-operating income was $15.8 million for the first quarter of 2025 compared to $22.6 million in the first quarter of 2024. The primary driver of the 2025 quarter’s results was our merger arbitrage partnerships. Interest income was lower in the 2025 quarter due to lower average interest rates in the first quarter of 2025.

    For the quarter ended March 31, 2025, the management fee was $1.1 million versus $2.0 million for the three months ended March 31, 2024.

    The effective tax rate applied to our pre-tax income for the quarter ended March 31, 2025 was 26.3%. In the year ago quarter, the effective tax rate was 21.5%; 2024’s lower rate is primarily driven by deferred tax benefits from a foreign investment.

    Assets Under Management (AUM)

    Assets under management at March 31, 2025 were $1.27 billion, $21 million higher than year-end 2024 primarily due to market appreciation of $33 million and the impact of currency fluctuations in non-US dollar denominated classes of investment funds ($13 million). These increases were partially offset by net outflows of $25 million. 

        March 31,     December 31,     March 31,  
        2025     2024     2024  
    ($ in millions)                        
    Merger Arbitrage(a)   $ 1,012     $ 1,003     $ 1,262  
    Long/Short Value(b)     221       209       251  
    Other     36       36       36  
    Total AUM   $ 1,269     $ 1,248     $ 1,549  

    (a) Includes $401, $408, and $580 of sub-advisory AUM related to GAMCO International SICAV – GAMCO Merger Arbitrage, $70, $68, and $66 of sub-advisory AUM related to Gabelli Merchant Partners Plc (f/k/a Gabelli Merger Plus+ Trust Plc), respectively.
    (b) Assets under management represent the assets invested in this strategy that are attributable to Associated Capital Group, Inc.

    Alternative Investment Management

    The alternative investment strategy offerings center around our merger arbitrage strategy which has an absolute return focus of generating returns independent of the broad equity and fixed income markets. We also offer strategies utilizing fundamental, active, event-driven and special situations investments.

    Merger Arbitrage

    For the first quarter of 2025, the longest continuously offered fund in the merger arbitrage strategy generated gross returns of 3.77% (2.81% net of fees). A summary of the performance is as follows:

                        Full Year                  
    Performance%(a)   1Q ’25     1Q ’24     2024     2023     2022     2021     5 Year(b)     Since 1985(b)(c)  
    Merger Arb                                                                
    Gross     3.77       1.33       5.83       5.49       4.47       10.81       9.57       10.02  
    Net     2.81       0.87       3.82       3.56       2.75       7.78       7.09       7.09  

    (a) Net performance is net of fees and expenses, unless otherwise noted. Performance shown for an actual fund in this strategy. The performance of other funds in this strategy may vary. Past performance is no guarantee of future results.
    (b) Represents annualized returns through March 31, 2025
    (c) Inception Date: February 1985

    Global M&A activity for the first quarter of 2025 totaled $890 billion, an increase of 15% compared to the first quarter of 2024. Technology was the most active sector with $165 billion, accounting for 19% of total value, followed by Financials ($165 billion or 19%) and Energy & Power ($126 billion or 14%). Europe was a bright spot with M&A totaling $154 billion in Q1 2025, a 12% increase compared to Q1 2024, while Asia Pacific M&A increased 59% to $187 billion. Both of these regions experienced their strongest performance in 3 years. Private Equity remained active, accounting for 21% of deal volume overall, or about $185 billion. This was the third strongest opening quarter for private equity and is indicative of the values PE firms are finding and reflective of the approximately $3 trillion of “dry powder” private equity firms have to deploy. Despite recent market volatility creating uncertainty, we believe a more accommodative antitrust environment and pent-up demand from acquirers should be supportive of ongoing M&A activity.

    The Merger Arbitrage strategy is offered by mandate and client type through partnerships and offshore corporations serving accredited as well as institutional investors. The strategy is also offered in separately managed accounts, a Luxembourg UCITS (an entity organized as an Undertaking for Collective Investment in Transferrable Securities) and a London Stock Exchange listed investment company, Gabelli Merchant Partners Plc (GMP-LN) (f/k/a Gabelli Merger Plus+ Trust Plc). 

    Acquisitions

    Associated Capital Group’s plan is to accelerate the use of its capital. We intend to leverage our research and investment capabilities by pursuing acquisitions and alliances that will broaden our product offerings and add new sources of distribution. In addition, we may make direct investments in operating businesses using a variety of techniques and structures to accomplish our objectives.

    Gabelli Private Equity Partners, LLC was created to launch a private equity business, somewhat akin to the success our predecessor PE firm had in the 1980s. We will continue our outreach initiatives with business owners, corporate management, and various financial sponsors. We are activating our program of buying privately owned, family started businesses, controlled and operated by the founding family.

    Shareholder Compensation

    On May 7, 2025, the Board of Directors declared a semi-annual dividend of $0.10 per share, which is payable on June 26, 2025 to shareholders of record on June 12, 2025.

    During the first quarter of 2025, AC repurchased 39,018 Class A shares, for $1.4 million, at an average price of $36.32 per share. In the first quarter of 2024, AC repurchased 117,354 Class A shares, for $3.9 million, at an average price of $33.63 per share.

    Since our spin-off from GAMCO on November 30, 2015, AC has returned $184.2 million to shareholders through share repurchases, exchange offers and dividends of $83.2 million.

    At March 31, 2025, there were 21.145 million shares outstanding, consisting of 2.194 million Class A shares and 18.951 million Class B shares outstanding.

    About Associated Capital Group, Inc.

    Associated Capital Group, Inc. (NYSE:AC), based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA”). We have also earmarked proprietary capital for our direct investment business that invests in new and existing businesses. The direct investment business is developing along several core pillars including Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor. We also created Gabelli Principal Strategies Group, LLC (“GPS”) in December 2015 to pursue strategic operating initiatives.

    Operating Loss Before Management Fee

    Operating loss before management fee expense represents a non-GAAP financial measure used by management to evaluate its business operations. We believe this measure is useful in illustrating the operating results of the Company as management fee expense is based on pre-tax income before management fee expense, which includes non-operating items including investment gains and losses from the Company’s proprietary investment portfolio and interest expense.

        Three Months Ended
    March 31,    		  
    ($ in 000’s)   2025     2024  
                     
    Operating loss – GAAP   $ (5,288 )   $ (4,970 )
                     
    Add: management fee expense (1)     1,103       1,982  
                     
    Operating loss before management fee – Non-GAAP   $ (4,185 )   $ (2,988 )

    (1) Management fee expense is incentive-based and is equal to 10% of Income before management fee and income taxes and excludes the impact of consolidating entities. For the three months ended March 31, 2025 and 2024, Income before management fee, income taxes and excluding consolidated entities was $11,028 and $19,822, respectively. As a result, $1,103 and $1,982 was accrued for the 10% management fee expense in the first quarters 2025 and 2024, respectively.

                       
    Table I
                       
    ASSOCIATED CAPITAL GROUP, INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (Amounts in thousands)
                       
        March 31,     December 31,     March 31,  
        2025     2024     2024  
    ASSETS                        
                             
    Cash, cash equivalents and US Treasury Bills(1)   $ 357,813     $ 367,850     $ 395,386  
    Investments in securities and partnerships(1)     506,156       487,623       442,458  
    Investment in GAMCO stock(2)     15,599       16,920       51,026  
    Receivable from brokers(1)     25,458       27,634       32,966  
    Income taxes receivable, including deferred tax assets, net(1)     3,310       6,021       6,444  
    Other receivables(1)     1,752       4,778       2,126  
    Other assets(1)     23,169       24,463       23,776  
    Total assets   $ 933,257     $ 935,289     $ 954,182  
                             
    LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY   
                             
    Payable to brokers(1)   $ 5,258     $ 5,491     $ 6,332  
    Income taxes payable, including deferred tax liabilities, net     –       –       1,723  
    Compensation payable(1)     12,456       17,747       11,545  
    Securities sold short, not yet purchased(1)     8,754       8,436       9,439  
    Accrued expenses and other liabilities(1)     2,149       5,317       2,514  
    Total liabilities   $ 28,617     $ 36,991     $ 31,553  
                             
    Redeemable noncontrolling interests(1)     5,682       5,592       5,779  
                             
    Total equity     898,958       892,706       916,850  
                             
    Total liabilities, redeemable noncontrolling interests and equity   $ 933,257     $ 935,289     $ 954,182  

    (1) Certain captions include amounts related to a consolidated variable interest entity (“VIE”) and voting interest entity (“VOE”); refer to footnote 4 of the Condensed Consolidated Financial Statements included in the 10-Q report to be filed for the quarter ended March 31, 2025 for more details on the impact of consolidating these entities.
    (2) Investment in GAMCO stock: 674,700, 699,749 and 2,382,170 shares, respectively.

           
    Table II
           
    ASSOCIATED CAPITAL GROUP, INC.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Amounts in thousands, except per share data)
           
        Three Months Ended
    March 31,    		  
        2025     2024  
                     
    Investment advisory and incentive fees   $ 2,004     $ 2,907  
    Other revenues     125       104  
    Total revenues     2,129       3,011  
                     
    Compensation     4,448       3,820  
    Other operating expenses     1,866       2,179  
    Total expenses     6,314       5,999  
                     
    Operating loss before management fee     (4,185 )     (2,988 )
                     
    Investment gain     10,892       16,794  
    Dividend income from GAMCO     54       95  
    Interest and dividend income, net     4,919       5,805  
    Shareholder-designated contribution     (31 )     (69 )
    Investment and other non-operating income, net     15,834       22,625  
                     
    Income before management fee and income taxes     11,649       19,637  
    Management fee     1,103       1,982  
    Income before income taxes     10,546       17,655  
    Income tax expense     2,777       3,798  
    Income before noncontrolling interests     7,769       13,857  
    Income attributable to noncontrolling interests     100       36  
    Net income attributable to Associated Capital Group, Inc.   $ 7,669     $ 13,821  
                     
    Net income per share attributable to Associated Capital Group, Inc.:                
    Basic and Diluted   $ 0.36     $ 0.64  
                     
    Weighted average shares outstanding:                
    Basic and Diluted     21,166       21,500  
                     
    Shares outstanding – end of period     21,145       21,420  

    SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

    The financial results set forth in this press release are preliminary. Our disclosure and analysis in this press release, which do not present historical information, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

    Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that could cause our actual results to differ from our expectations or beliefs include a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, and a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Form 10 and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8f083310-4b5e-4b0f-8176-453a01cbd4c1

    The MIL Network –

  • MIL-OSI: FHLBank San Francisco and Local Financial Institutions Deliver Nearly $4 Million for Wildfire Relief and Recovery in Southern California

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, May 08, 2025 (GLOBE NEWSWIRE) — In partnership with 41-member financial institutions, the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has delivered over $3.9 million in critical funding to support communities impacted by this year’s Southern California wildfires.

    FHLBank San Francisco matched 70 member donations, providing $1.4 million in funding to more than two dozen local nonprofits providing direct relief, plus contributed $600,000 in direct donations — $300,000 each to the California Fire Foundation and Habitat for Humanity of Greater Los Angeles — to support both immediate emergency response and long-term rebuilding efforts.

    “The tragic losses experienced by thousands of local residents and business owners in the Southern California wildfires earlier this year were truly heartbreaking,” said Joseph Amato, interim president and chief executive officer of FHLBank San Francisco. “We respond when our communities need us and are proud to partner with our member financial institutions to provide millions in donations to support local nonprofits and vital community organizations in wildfire relief efforts. Together, we can help Los Angeles recover and rebuild stronger than ever.”

    As part of its commitment to wildfire relief and recovery in Southern California, FHLBank San Francisco matched member donations up to $50,000 each. Donations were directed to nearly 50 local nonprofits and community organizations, including:

    • American Red Cross
    • California Community Foundation
    • Community Build, Inc.
    • Door of Hope
    • Fire Family Foundation
    • Los Angeles County Economic Development Corporation
    • Pasadena Community Foundation
    • Union Station Homeless Services
    • United Way of Greater Los Angeles
    • USC Community Credit Union Foundation
    • West Angeles Community Development Corporation
    • YMCA of Metropolitan Los Angeles

    Response to Wildfire Recovery

    In support of longer-term housing recovery, FHLBank San Francisco contributed $300,000 to California Fire Foundation and $300,000 to Habitat for Humanity of Greater Los Angeles, two leading nonprofits actively contributing to wildfire relief in Southern California.

    “These funds from the Federal Home Loan Bank of San Francisco are very helpful in serving as a catalyst to help the local wildfire recovery efforts,” said Erin Rank, president and chief executive officer of Habitat for Humanity of Greater Los Angeles. “We are deploying the funds to our Together, We Can ReBUILD LA® initiative that is focused on helping families rebuild, relocate, provide essential goods, provide rental or mortgage assistance, and other intermediate housing needs.”

    Member Engagement in Matching Funds

    Among the 41 FHLBank San Francisco member community financial institutions that participated in the matching funds, 17 requested the $50,000 maximum amount, including Wescom Central Credit Union which donated over $100,000 to the American Red Cross.

    “At Wescom, we are committed to supporting the financial well-being and resilience of our community, especially during times of crisis. In partnership with our credit union members and the Federal Home Loan Bank of San Francisco, we acted swiftly to provide not only the necessary financial resources but also to mobilize essential supplies,” said Darren Williams, President and CEO of Wescom Financial. “This effort is part of Wescom’s longstanding commitment to corporate social responsibility, and we remain focused on advancing our support as our community rebuilds.”

    A Broader Commitment to Recovery and Resilience

    FHLBank San Francisco’s wildfire relief and recovery efforts are a part of a suite of tools and resources that are available to help member financial institutions address both urgent needs and longer-term recovery in local communities. These tools and resources include discounted credit programs that support affordable housing, economic development and community revitalization efforts. Learn more at fhlbsf.com.

    About Federal Home Loan Bank of San Francisco

    The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient.

    The MIL Network –

  • MIL-OSI: Patrick Norman of USX Cyber to Speak at ACC Chief Legal Officer Global Summit

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, May 08, 2025 (GLOBE NEWSWIRE) — Patrick Norman, Chief Risk Officer and General Counsel at USX Cyber®, was named to speak at the Association of Corporate Counsel’s Chief Legal Officer Global Summit 2025 in Barcelona, Spain.

    The Association of Corporate Counsel (ACC) is a global bar association that promotes the common professional and business interests of in-house counsel through information, education, networking opportunities, and advocacy initiatives. Membership provides opportunities for in-house counsel to broaden their knowledge and expertise through collaboration with peers in their industry and region. ACC’s Chief Legal Officer (CLO) Global Summit brings chief legal officers together as peers to explore the next, best practices for driving innovation and addressing complex demands in the face of economic uncertainty and evolving business needs.

    Norman will be leading a roundtable discussing “Chief Legal Officers Leading through a VUCA World”. A VUCA world is one characterized by Volatility, Uncertainty, Complexity, and Ambiguity. The roundtable will explore the critical role of the chief legal officer in managing VUCA risks and offer strategic insights into proactive risk management, crisis leadership, regulatory adaptation, and ethical decision-making in uncertain times.

    ACC Chief Legal Officer Global Summit 2025
    May 21, 2025 – May 23, 2025
    Torre Melina Gran Meliá
    Av. Diagonal, 671, 08028 Barcelona, Spain
    Register: https://www.acc.com/closummit

    About USX Cyber®

    USX Cyber® is transforming cybersecurity compliance through its Guardiant® platform—a security-driven compliance solution built for today’s complex threat landscape. More than just a robust, end-to-end XDR platform, Guardiant® empowers the C-suite with real-time dashboard visibility into both their organization’s cybersecurity posture and compliance status. Executives gain immediate insight into live threats, risk exposure, and cybersecurity investments. Guardiant® accelerates compliance with major cybersecurity frameworks, with many protocols satisfied right out of the box, dramatically reducing time-to-compliance and overhead. Built on a powerful XDR core, Guardiant® unifies real-time threat detection, automated incident response, and centralized control—delivering comprehensive protection and compliance tracking through a single-pane-of-glass experience.

    Media Contact:
    Megan Donovan
    External Communications Director
    USX Cyber, LLC
    megan@howllouder.com
    732-245-3399

    The MIL Network –

  • MIL-OSI: U.S. Hospitals and Health Systems Hit with Long-running Increases in Medical Supply and Drug Expenses, Bad Debt and Charity Care, According to New Strata Report

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 08, 2025 (GLOBE NEWSWIRE) — Hospitals and health systems nationwide saw notable growth in medical supply and drug expenses and increases in bad debt and charity care in recent years — all factors that could be exacerbated in the coming months as the healthcare industry feels the effects of federal tariffs and other policy changes, according to a new report from Strata Decision Technology.

    Non-labor expenses have long been on the rise for U.S. hospitals, with total non-labor expense increasing year-over-year (YOY) each month for more than three years, according to Strata data. Medical supply and drug expenses have steadily grown as a share of overall expenses. Medical supply expense as a percent of total expense increased from 7.2% in the first quarter of 2023 to 8.0% in Q1 of this year. Drug expense as a percent of total expense rose from 4.1% in Q1 2023 to 4.4% in Q1 2025. 

    “Hospitals and health systems have battled persistent expense increases for years,” said Steve Wasson, Strata’s chief data and intelligence officer. “Now — with more than two-thirds of medical devices used in the U.S. manufactured outside of the country — tariffs and other federal policy changes could further drive up costs for pharmaceuticals, syringes, personal protective equipment, and other medical supplies and devices that healthcare professionals rely on every day to care for patients.”

    U.S. health systems also saw growth in charity and bad debt deductions in recent years. The median charity deduction for health systems increased 5.4% from Q1 2024 to Q1 2025, and jumped 21.4% in Q1 2025 versus Q1 2023. The median health system bad debt deduction increased 9.2% from Q1 2024 to Q1 2025 and 16.9% versus Q1 2023. 

    For hospitals, charity deductions for the first quarter rose 7.6% from Q1 2024 and jumped 24.5% versus Q1 2023. Bad debt deductions at hospitals decreased slightly at 0.9% from Q1 2024 to Q1 2025, but rose 15.3% versus two years ago. 

    Possible changes to Medicaid being discussed in Congress could contribute to further increases in bad debt and charity care. As of Q1 2025, the data show that Medicaid accounts for 12% or more of revenue for most U.S. hospitals, depending on the region. Hospitals in the Midwest have the lowest share of Medicaid revenue at 11.1%, while hospitals in the West have the largest at 14.4%. 

    About the Data 
    The report uses data from Strata’s StrataSphere® and Comparative Analytics database. Comparative Analytics offers access to near real-time data drawn from more than 135,000 physicians from over 10,000 practices and 139 specialty categories, and from 500+ unique departments across more than 1,600 hospitals. Comparative Analytics also provides data and comparisons specific to a single organization for visibility into how their market is evolving. StrataSphere is a unique and comprehensive data-sharing platform that helps providers leverage a network that represents approximately 25% of all provider spend in U.S. healthcare. This report incorporates data from more than 600 hospitals with StrataJazz® Decision Support.

    About Strata Decision Technology 
    Strata Decision Technology provides a cloud-based platform for software and service solutions to help organizations better analyze, plan, and perform in support of their missions. With the combination of Syntellis Performance Solutions’ Axiom solutions, more than 2,300 organizations rely on Strata to provide their financial analytics, planning, and performance solutions. Strata has been named the market leader for Business Decision Support for 18 consecutive years. By uniting these two industry leaders, Strata continues to deliver market-leading solutions and world-class service, with an increased focus on accelerating innovation. For more information, please go to www.stratadecision.com.

    Strata Social Networks 
    LinkedIn: Strata Decision Technology
    Media contact: 
    Sally Brown, Inkhouse 
    strata@inkhouse.com

    The MIL Network –

  • MIL-OSI: DRML Miner: The innovative leader in future cryptocurrency mining

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, May 08, 2025 (GLOBE NEWSWIRE) — The story of DRMLMiner stems from a deep understanding of digital currency and a keen insight into future technology. The founding team is composed of a group of engineers, economists, and technical experts who are passionate about blockchain technology and cryptocurrency. They are well aware that with the rise of Bitcoin and other digital currencies, the global economic and financial system is undergoing a transformation.

    However, with the fierce competition in the cryptocurrency market and the continuous evolution of blockchain technology, the mining industry is facing unprecedented challenges: high energy consumption, high costs, and huge environmental impact. Traditional cryptocurrency mining relies on huge electricity resources, which has become a bottleneck for many mines.

    The founders of DRMLMiner firmly believe that cryptocurrency mining should not come at the expense of the earth’s resources. Therefore, they decided to build a new mining platform that is more efficient, environmentally friendly, and sustainable. After several years of research and development and experimentation, DRMLMiner successfully launched a unique green mining solution and quickly became an innovator in the cryptocurrency mining industry.

    Mission: Create a green, smart and efficient future for cryptocurrency mining

    DRMLMiner’s core mission is to reshape the global cryptocurrency mining industry. We provide sustainable and efficient mining solutions for miners around the world through innovative technology, green energy and efficient mining machine design. Our vision is not only to provide users with high-return mining opportunities, but also to set new environmental standards for the industry.

    Our goal is to make the mining industry smarter and greener and contribute to the development of the digital currency market. We hope to make the future of digital currency more sustainable and efficient through technological innovation.

    DRMLMiner‘s core advantages:

    Green energy drive

    At DRMLMiner, we break through the traditional high-energy consumption mining model and instead use renewable energy (such as solar energy, wind energy, etc.) to drive the mining machine. Our mine relies entirely on green electricity, which not only effectively reduces the carbon footprint, but also significantly reduces energy consumption costs.

    High-efficiency mining machine technology

    DRMLMiner uses the latest high-efficiency mining machines, combined with the most advanced chip technology and cooling system, to greatly improve mining efficiency. Our mining machine design focuses on optimizing energy utilization, so that every kilowatt-hour of electricity can play the maximum efficiency, greatly reducing the energy consumption of mining.

    Smart Mining Platform

    We provide users with a smart mining management platform, which optimizes mining strategies through artificial intelligence and big data analysis. The system automatically analyzes market conditions and adjusts computing power configuration to ensure that users can obtain the best returns under different market conditions.

    Low-carbon and environmentally friendly operation

    DRMLMiner not only focuses on the efficient operation of mining equipment, but also pays more attention to environmental performance in operation. All our mines strictly comply with environmental regulations and use advanced cooling technology and waste heat recovery systems to minimize the impact on the environment.

    Technological innovation: making cryptocurrency mining more efficient and environmentally friendly

    Green mine design

    DRMLMiner mines use the latest green building technology to optimize energy utilization and environmental impact. Our mine construction is based on sustainability, using advanced heat recovery systems, solar panels, wind power generation equipment, etc. to achieve mine energy self-sufficiency.

    Efficient algorithms and hardware optimization

    Our mining machines use ASIC chips and GPU optimized algorithms, which have higher computing power and lower power consumption than traditional mining machines. We also customize hardware to ensure that the mining machines can perform well in mining different currencies, thereby improving the overall return on investment of users.

    Cloud Mining Service

    DRMLMiner also provides cloud mining services, allowing users around the world to easily participate in mining without having to purchase expensive hardware or bear high electricity bills. Through our cloud mining platform, users only need to pay the rental fee to enjoy mining benefits and enjoy a low-threshold, high-return mining experience.

    Decentralized Mining Pool

    In order to avoid the centralization problem of traditional mining pools, DRMLMiner introduced the concept of decentralized mining pools, using blockchain technology to ensure the transparency and fairness of all transactions, so that every participant can share the mining benefits fairly.

    The global impact of DRMLMiner

    With the global emphasis on environmental protection and energy efficiency, DRMLMiner is becoming a new force in the industry. We not only improve mining efficiency through innovative technologies, but also strive to bring more environmentally friendly and smarter solutions to the global mining industry.

    Providing sustainable profit opportunities for global miners: DRMLMiner is committed to helping global miners improve profitability while reducing operating costs. Through efficient mining machines and green energy solutions, we enable miners to reduce environmental burdens while obtaining rich returns.

    Driving the industry towards green and intelligent development: As an industry leader, DRMLMiner promotes the green transformation of the entire cryptocurrency mining industry through green mining, intelligent management and technological innovation.

    Build a global cryptocurrency community: We not only pay attention to the interests of miners, but also strive to provide a stable and fair mining platform for the global cryptocurrency community and promote the healthy development of the digital currency market.

    Join DRMLMiner: Create the future of cryptocurrency

    DRMLMiner is changing the future of cryptocurrency mining and has become one of the most influential mining platforms in the world. We sincerely invite global miners, investors and blockchain technology experts to join us to jointly promote the green revolution in the global cryptocurrency mining industry.

    DRMLMiner provides you with a more efficient, environmentally friendly and intelligent mining experience through innovative technologies and environmental solutions. Whether you are a novice miner or a senior investor, we will provide you with perfect technical support and the best mining benefits.

    Join DRMLMiner now Official link: https://drmlminer.com/

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: Sunlight Simplify and AndDone Unite to Streamline Insurance Operations and Payments

    Source: GlobeNewswire (MIL-OSI)

    ORLANDO, Fla. and KANSAS CITY, Mo., May 08, 2025 (GLOBE NEWSWIRE) — Sunlight Simplify, a leading provider of cloud-based, no-code and low-code policy administration solutions for insurance carriers and managing general agents (MGAs), and AndDone, a premier insurance-focused payments platform wholly owned by IPFS, are excited to announce a strategic partnership aimed at revolutionizing the insurance industry’s operational and payment processes.

    This collaboration integrates Sunlight Simplify’s robust policy administration capabilities, tailored specifically for the Medical Professional Liability (MPL) insurance sector, with AndDone’s flexible and secure payment solutions. The synergy between the two platforms promises to deliver a seamless experience for insurers, from policy management to premium collection.

    “By partnering with AndDone, we’re enhancing our platform’s capabilities to offer a more comprehensive solution for MPL insurers,” said Bernadette Leh, President & Co-Founder of Sunlight Simplify. “This integration allows our clients to manage policies and process payments within a unified, efficient system.”

    AndDone’s suite of payment solutions—including hosted payment portals, embedded payment options, and secure APIs—complements Sunlight Simplify’s features such as customer relationship management, billing, subledger management, and reporting analytics. Together, they provide a holistic approach to insurance operations, reducing administrative burdens and enhancing customer satisfaction.

    “Our mission at AndDone has always been to simplify payment processes for insurance professionals,” said Chase Courtney, Vice President at AndDone. “Collaborating with Sunlight Simplify aligns perfectly with our goals, enabling us to offer integrated solutions that address the unique challenges of the insurance industry.”

    The partnership is set to roll out in phases, with an initial integration focusing on streamlining payment processing for MPL insurers.  Future developments will include a premium finance option powered by IPFS as well as an aim to expand these capabilities to other insurance sectors, further enhancing the value proposition for clients.

    For more information about the partnership and upcoming integrations, please visit www.sunlightsimplify.com and www.anddone.com

    About Sunlight Simplify
    Sunlight Simplify is a cloud based, no-code & low-code, Policy Administration software solution for Insurance Carriers and MGAs. The enterprise suite is tailored to support the specific requirements of the Medical Professional Liability Insurance line of business. The highly flexible, multi-language, multi-currency configurable solution allows for quick implementation across states, territories and countries.

    Contacts:

    Martin Kowal
    Sunlight Simplify
    mkowal@sunlightsolutions.com
    708-668-3794

    About AndDone

    AndDone is a leading payments platform tailored specifically for the insurance industry. Offering a range of solutions including hosted payment portals, embedded payment options, secure payment APIs, and premium financing, AndDone simplifies the premium collection process for insurance professionals. With a focus on flexibility, security, and user experience, AndDone empowers agencies to enhance their payment workflows and improve customer satisfaction. For more information, please visit www.anddone.com.

    Contacts:

    Chase Courtney
    AndDone
    chase@anddone.com
    318-664-2053

    The MIL Network –

  • MIL-OSI: TiiCKER CEO Walter Ward to Join Michigan’s Leading Startup Founders on Stage at the 2025 Mackinac Policy Conference

    Source: GlobeNewswire (MIL-OSI)

    GRAND RAPIDS, Mich., May 08, 2025 (GLOBE NEWSWIRE) — TiiCKER, the world’s first shareholder engagement and retail investor perks platform, announced today that its CEO and co-founder, Walter Ward III, will join an elite panel of entrepreneurs at the 2025 Mackinac Policy Conference to explore how high-growth startups thrive in Michigan.

    Titled “How High-Growth Startups Make It in Michigan,” the panel will take place on Wednesday, May 29 from 1:30 to 2:10 p.m. at the Grand Hotel Theatre on Mackinac Island, Michigan. Ward will appear alongside Dr. Anthony Chang (Founder and CEO, BAMF Health), Greg Schwartz (Co-founder, StockX), and Andrea Wallace (CEO, Opnr), in a conversation moderated by Gary Torgow, Chairman of Huntington National Bank ($HBAN).

    The discussion will focus on the diverse and growing ecosystem that’s helping startups in Michigan scale, from financial and human capital to innovation hubs and public-private partnerships. Each panelist will share their personal entrepreneurial journey and insights on what it takes to succeed and scale in the Great Lakes State. TiiCKER was a 2023 recipient of a $510,000 talent incentive grant from the Michigan Economic Development Corporation (MEDC) aimed at supporting recruiting engineers and fintech talent to the Grand Rapids-based startup.

    “As we continue to grow TiiCKER in Michigan – where I was born and raised – I’m excited to highlight how this state is becoming a global model for startup success,” said Ward. “From fintech to healthtech and creative industries, we’re building something special here, and I couldn’t be prouder to represent the Michigan startup community on this national stage.”

    TiiCKER’s inclusion in this prestigious panel reflects the company’s rapid ascent as a disruptive force in fintech and retail investor engagement, including its work with Michigan public companies offering shareholder perks like Hagerty ($HGTY), Whirlpool ($WHR) and Wolverine Worldwide ($WWW). The platform enables publicly traded companies to connect to and reward their verified retail shareholders, creating new channels for brand engagement and customer loyalty. And it provides a pathway for retail investors to experience the benefits of being a shareholder in the companies and brands they love.

    For more information and ongoing updates about the 2025 Mackinac Policy Conference, visit www.detroitchamber.com/mpc.

    For more information, visit www.TiiCKER.com.

    About TiiCKER
    Fintech TiiCKER invented verified stock perks and direct-to-shareholder marketing through its web-based and mobile app software platforms, providing consumers and investors with a revolutionary way to engage with the brands they own and love. For America’s more than 100 million retail investors and fans of publicly traded brands, TiiCKER provides unique access to shareholder perks and discounts, custom articles and content, CEO and company-access events for retail investors, and TiiCKER Perks from marketing partners.

    For its brands and public company partners, TiiCKER creates and markets measurable Shareholder Loyalty Programs that drive more spending, investing and voting among their consumers and verified owners, maximizing Shareholder Lifetime Value™. As a result of its innovation and leadership in direct-to-shareholder marketing, TiiCKER was named: Best Shareholder Engagement Platform (2024 Benzinga Global Fintech Awards); Most Innovative Tech Companies of the Year at the 2024 American Business Awards®; Top MarTech Startup of 2023 by MarTech Outlook; and won the 2023 cohort for the AWS (Amazon Web Services) Fintech Accelerator program.

    Media Contact:
    Sarah Smith
    ssmith@tiicker.com

    The MIL Network –

  • MIL-OSI: Boomer Benefits Announces Upcoming Release of Audiobook: 10 Costly Medicare Mistakes You Can’t Afford to Make

    Source: GlobeNewswire (MIL-OSI)

    Fort Worth, Texas , May 08, 2025 (GLOBE NEWSWIRE) — Boomer Benefits, an award-winning advocate for seniors in the Medicare Supplement and Advantage Plan industry, is excited to announce the upcoming release of the audiobook version of 10 Costly Medicare Mistakes You Can’t Afford to Make.

    boomer benefits logo

    Authored by Boomer Benefits co-founder and nationally recognized Medicare expert Danielle K. Roberts, the book has already sold over 55,000 print copies. Since its original release, it has helped thousands of Americans better understand Medicare and avoid the common (and often expensive) pitfalls that come with it.

    For the first time, 10 Costly Medicare Mistakes will be available in audio format, read by the author herself. This new format makes Danielle’s guidance more accessible than ever, allowing listeners to learn on the go while reinforcing Boomer Benefits’ commitment to education and empowerment for Medicare beneficiaries.

    Key Highlights of the Audio Book:

    • The most common Medicare mistakes, including enrollment period pitfalls and plan selection
    • Tips to avoid late penalties and ensure timely enrollment
    • Clear explanations of Medicare coverages beneficiaries need to know
    • Bonus content: Medicare timelines, checklists, and exclusive video resources from Danielle Roberts

    “I wrote this book to simplify Medicare and help people avoid the costly missteps I’ve seen all too often,” said Danielle K. Roberts. “Bringing it to audio means even more people can access this information—whether they’re driving, walking, or just prefer listening to reading. I’m excited to help even more folks feel confident about their Medicare choices.”

    About Boomer Benefits

    Boomer Benefits is a nationwide, award-winning insurance agency specializing in Medigap and Advantage Plans for national carriers such as Blue Cross Blue Shield, Aetna, Cigna, Mutual of Omaha, and many other A-rated carriers. Licensed in 49 states, Boomer Benefits has a Client Service Team dedicated to helping clients with any Medicare issues that arise, free of charge.

    Press inquiries

    Boomer Benefits
    https://boomerbenefits.com
    Kelsey Mundfrom
    info@boomerbenefits.com

    A video accompanying this announcement is available at https://www.youtube.com/embed/kXkHqV_OBPE

    The MIL Network –

  • MIL-OSI: BTCC Exchange Brings Crypto’s Elite Influencers Together For Exclusive TOKEN2049 Yacht Experience

    Source: GlobeNewswire (MIL-OSI)

    A Media Snippet accompanying this announcement is available in this link.

    VILNIUS, Lithuania, May 08, 2025 (GLOBE NEWSWIRE) — BTCC, the world’s longest-serving crypto exchange, hosted an exclusive VIP yacht party that brought together cryptocurrency’s most prominent voices following TOKEN2049 Dubai on May 2, 2025. The luxurious event, set against the backdrop of Dubai’s coastline on the Arabian Sea, created a premier networking space where the industry’s leading content creators could connect in a more relaxed setting.

    The exclusive after-party attracted the crypto world’s most influential voices, with top-tier Key Opinion Leaders (KOLs) who collectively reach millions of followers across various social media platforms. Guests enjoyed perfect Dubai weather while cruising at sea, with live DJ music creating an energetic atmosphere that encouraged open conversation and networking.

    “Our goal is to create moments that matter—beyond charts and screens,” said Erik Gjergji, Head of Business Development at BTCC. “This yacht party isn’t just a celebration; it’s about turning online connections into real relationships and gaining insights that give us a competitive edge.”

    The exclusive event featured thrilling jetski sessions along Dubai’s coastline, live DJ performances, and exquisite Japanese cuisine prepared by Mr. Nishimura Yukou, the Head Chef from Umi Kei at Jumeirah Marsa Al Arab, one of Dubai’s premier dining destinations. As evening approached, guests enjoyed a scenic cruise showcasing Dubai’s iconic skyline at dusk, adding a magical backdrop to the networking experience.

    Unlike traditional conference settings, the yacht party provided a relaxed atmosphere where influential voices in the crypto space could engage in candid conversations about market trends, technological innovations, and the future of cryptocurrencies.

    BTCC Exchange has consistently demonstrated its commitment to fostering community connections through events alongside major industry conferences. By bringing together content creators in distinctive settings like yacht parties and desert safari tours, the exchange positions itself as a trusted name in the cryptocurrency space where meaningful dialogues flourish.

    As TOKEN2049 Dubai concludes, the relationships forged during these immersive experiences and on the conference floor will continue to thrive online, building trust, creating opportunities to collaborate, and ultimately enhancing the exchange’s services in meaningful ways.

    About BTCC Exchange

    Founded in 2011, BTCC is one of the world’s longest-serving cryptocurrency exchanges, offering secure and user-friendly trading services to millions of users globally. With a commitment to security, innovation, and community building, BTCC continues to be a trusted platform in the evolving cryptocurrency landscape.

    Website: https://www.btcc.com/en-US

    X: https://x.com/BTCCexchange

    Contact: press@btcc.com

    The MIL Network –

  • MIL-OSI: Viventium Unveils Enhanced Per Visit Pay Solution to Empower Home Health Agencies

    Source: GlobeNewswire (MIL-OSI)

    BERKELEY HEIGHTS, N.J., May 08, 2025 (GLOBE NEWSWIRE) — Viventium, who offers an industry-leading payroll, HR, and compliance platform purpose-built for healthcare providers, today announced Per Visit Pay enhancements to Viventium Payroll. Designed specifically to meet the growing needs of home health agencies, these enhancements streamline payroll processing and safeguard agencies against frequent errors that can result in costly penalties.

    As home health agencies adapt to shifting regulations, tight margins, and workforce expectations, Viventium Payroll with Per Visit Pay provides a smarter way for agencies to pay clinicians for skilled nursing and therapy visits. By aligning compensation with visit type while ensuring full compliance with Fair Labor Standards Act and Affordable Care Act requirements, the enhanced offering allows agencies to scale, optimize labor costs, and improve care delivery.

    “Home health organizations are being asked to do more with less while continuing to deliver exceptional care,” said Navin Gupta, CEO at Viventium. “Viventium Payroll is purpose-built for home health agencies. Our mission is to deliver industry-specific functionality that empowers agencies to stay compliant, support clinicians, and gain financial control — all in one powerful platform.”

    Unlike legacy payroll systems that convert visits into hours using a fixed multiplier, Viventium Payroll captures both the actual hours worked and the number of visits completed. This dual-tracking approach ensures accurate calculation of overtime, retroactive pay, ACA eligibility, sick leave accruals, and more. By automating every step of the payroll process, Viventium Payroll helps eliminate errors, prevent under- or overpayment, and ensure full compliance, streamlining the entire payroll process from start to finish.

    Key benefits for home health agencies include:

    • Predictable profitability: Consistent visit-based pay enables better cost forecasting and margin control.
    • Full compliance: Automatically tracks hours worked across visit types for accurate overtime, sick leave accruals, PTO accruals, and benefit calculations.
    • Integrated workflow: Imports data from the EHR and combines visit pay, hourly pay (meetings, travel, documentation), and mileage to reduce errors and save time.
    • Transparency and trust: Itemized pay stubs with visit details that clinicians can access easily in the employee self-service app reduce confusion and improve staff satisfaction.
    • Higher productivity: Seeing the direct impact of productivity on earnings potential, clinicians are rewarded for being efficient.

    This release comes at a crucial time. Despite rising costs, home health agencies only saw a modest 0.5% Medicare rate increase in 2025, a rate well below inflation. With expectations that the Centers for Medicare & Medicaid Services will further adjust payments under the Patient-Driven Groupings Model, agencies must maximize efficiency and quality to stay competitive.

    “With rising cost pressures and increasingly complex compliance demands, it’s more important than ever for home health agencies to have a payroll partner that truly understands their unique needs. At Viventium, we designed our enhanced Per Visit Pay solution to deliver the precision, adaptability, and visibility agencies need to support their clinicians and protect their margins with confidence,” said Terra Vicario, Chief Client Officer, Viventium.

    To learn more about Viventium Payroll and Per Visit Pay, visit viventium.com.

    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 fifty 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:
    Amanda Evans
    Director of Marketing, Home-Based Care
    aevans@viventium.com
    718.766.0360

    The MIL Network –

  • MIL-OSI: JAMining Launches Secure and Sustainable Cloud Mining Contracts Amid Crypto Market Maturity

    Source: GlobeNewswire (MIL-OSI)

    Warwick, UK, May 08, 2025 (GLOBE NEWSWIRE) — As global interest in cryptocurrency continues to grow, JAMining, a world-leading cloud mining platform, is introducing a new generation of secure and stable cloud mining contracts, making digital asset generation more accessible, sustainable, and profitable than ever before.

    By combining clean energy infrastructure, FCA regulation, and an intuitive user experience, JAMining is removing traditional entry barriers in the crypto mining space—such as high hardware costs and complex configurations—and empowering users to participate in mining Bitcoin, Ethereum, Dogecoin, and other major digital currencies with just a few clicks.

    Cloud Mining Reimagined: Simplicity, Security, and Real Profit

    For those seeking an alternative to volatile trading environments, cloud mining offers a dependable path to passive crypto income. JAMining’s platform is designed for investors of all backgrounds—whether they’re exploring crypto for the first time or diversifying an existing portfolio. With mining plans backed by top-tier infrastructure and daily payouts, users can enjoy a fully managed, automated revenue stream.

    Each mining contract is supported by enterprise-grade equipment, operated in facilities powered by 100% renewable energy sources. The result is a mining model that is both eco-conscious and investor-friendly.

    Key Advantages of JAMining

    •  $100 Welcome Bonus
       New users receive $100 in credit to try cloud mining risk-free—no obligations, no deposits.
    •  Zero Hidden Fees
       JAMining charges no service or management fees, ensuring transparent earnings.
    •  Green Energy Operations
       All mining activity is powered by solar, hydro, and wind energy, contributing to a carbon-neutral crypto future.
    •  FCA-Regulated Platform
       JAMining is officially registered and supervised by the UK Financial Conduct Authority, providing unparalleled trust and regulatory oversight.
    •  High Profitability & Daily Payouts
       Users benefit from daily return-sharing, making it easier to compound gains or withdraw at any time.
    •  Multi-Crypto Settlement Support
       JAMining supports over 9 cryptocurrencies for payouts, including BTC, DOGE, ETH, SOL, USDC, USDT, XRP, LTC, and BCH.
    •  Reliable Security & Infrastructure
       With McAfee® and Cloudflare® protection, and a 100% uptime guarantee, users enjoy a secure, seamless mining experience.

    Profit Potential – Daily Earnings Table

    To help investors better understand JAMining’s income model, below is a sample profit table based on recent contract terms:

    Mining Without Complexity

    JAMining’s team handles all the technical operations—from maintenance and energy management to 24/7 customer support—so users don’t have to. This hands-off approach allows users to focus purely on profits, without the burden of configuring hardware, paying electricity bills, or monitoring complex metrics.

    Whether you’re just starting out in crypto, looking to supplement your income, or planning a long-term accumulation strategy, JAMining delivers a frictionless entry into one of the most promising areas of digital finance.

    About JAMining

    JAMining is a globally trusted cloud mining platform offering access to clean-energy-driven mining services for BTC, DOGE, ETH, and more. Backed by a team of blockchain professionals, sustainable infrastructure, and regulatory oversight, JAMining provides users with a modern, secure way to mine digital currencies—anytime, anywhere.

    Company: JAMining
    Website: https://jamining.com
    Contact: info@jamining.com

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: TGS ASA – 2025 Annual General Meeting Held

    Source: GlobeNewswire (MIL-OSI)

    OSLO, NORWAY (8 May 2025) – The Annual General Meeting of TGS ASA was held on 8 May 2025. All resolutions proposed were approved by the shareholders. The minutes from the Annual General Meeting are available on www.tgs.com. 

    For more information, visit TGS.com (http://www.tgs.com), email generalmeeting@tgs.com, or contact:
    Bård Stenberg VP IR & Communication
    Tel: +47 992 45 235
    E-mail: investor@tgs.com

    About TGS
    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement
    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-OSI: MEXC Lists USD1, Accelerating Global Stablecoin Innovation with World Liberty Financial

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 08, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, announced that it will list World Liberty Financial USD (USD1) in the Innovation Zone on May 9, 2025 (UTC). The USD1/USDT trading pair will also open at 08:00 on May 8, 2025 (UTC), and the MEXC Convert feature will be available from 09:00 on May 8, 2025 (UTC), offering users a seamless asset conversion experience. This listing expands the range of digital assets on the platform and further demonstrates MEXC’s commitment to advancing the global stablecoin ecosystem.

    USD1: A New Era in Stablecoins and Financial Transparency

    USD1 is World Liberty Financial’s stablecoin that provides secure and transparent digital asset services for global users. The stablecoin is backed 1:1 by the US dollar, with its reserve assets custodied by BitGo, held by Fidelity and subject to regular audits by third-party accounting firms to ensure transparency and stability. Currently, USD1 is deployed on both Ethereum and Binance Smart Chain (BSC), with plans to expand to additional blockchains in the future to enhance interoperability.

    Furthermore, USD1 has made significant strides in the decentralized finance (DeFi) ecosystem. For example, ListaDAO has launched a USD1 lending vault on BNB Chain, providing liquidity support for 20 million USD1. Renowned market maker DWF Labs has also deployed USD1 liquidity across multiple platforms, further enhancing its availability and market depth. According to the data from CoinMarketCap, USD1’s market capitalization has surpassed USD 2.12 billion, demonstrating strong market demand.

    Special Promotion to Celebrate the Listing

    To celebrate the successful listing of USD1, MEXC is launching a series of special offers to thank its users for their support. Starting May 8, 2025, at 08:00 (UTC), users can enjoy the following benefits:

    • Zero Trading Fees: The USD1/USDT spot trading pair will have 0 trading fees.
    • Zero Withdrawal Fees: Users will enjoy 0 withdrawal fees when withdrawing USD1.

    MEXC Drives the Evolution of Stablecoins Through Ecosystem Empowerment

    As a leading global cryptocurrency exchange, MEXC has earned the trust of 36 million users across 170+ countries worldwide, thanks to its fast token listing process, diverse asset offerings, deep liquidity, and robust security. At the same time, MEXC continues to empower quality projects and partners, actively promoting the healthy development of the global digital asset and stablecoin ecosystem.

    Looking Ahead: A Shared Vision for the Future of Stablecoins

    MEXC’s listing partnership with World Liberty Financial further drives innovation in the development of stablecoins. Looking ahead, MEXC will continue to strengthen its support for stablecoin projects, promoting the widespread adoption of stablecoins globally. At the same time, the platform will keep iterating its products and services to provide users with a more secure and seamless trading experience.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

    Source

    Contact:
    Lucia Hu
    lucia.hu@mexc.com

    Disclaimer: This is a paid post and is provided by MEXC. 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/15818921-c5b2-4fbf-93a6-e7e0c7d6fdf6

    The MIL Network –

  • MIL-OSI: First Federal Savings Bank and ICBA Offer Tips to Help Graduates Strengthen Their Financial Futures

    Source: GlobeNewswire (MIL-OSI)

    EVANSVILLE, Ind., May 08, 2025 (GLOBE NEWSWIRE) — As new graduates prepare to transition into the workforce, First Federal Savings Bank and the Independent Community Bankers of America (ICBA) are providing tips to put them on the path to a prosperous financial future.

    “As financial stewards of our community, First Federal Savings Bank can be a resource for individuals taking the next step in their career journey to help them assess their financial situations and create a plan based on their unique circumstances and life goals,” said Courtney Schmitt, VP, Marketing Manager at First Federal Savings Bank. “We know that the move from scholarly activities to workplace dynamics can be a challenge and want to support recent graduates as they manage new financial obligations at this pivotal life stage.”

    First Federal Savings Bank and ICBA offer the following tips to help graduates create a financial game plan during their wealth-building years to set them up for success through their major financial lifecycle events:

    • Start a Budget: Use tools like online budgeting services to track your income, expenses, and savings. Establishing a budget early helps build strong financial habits and prevents overspending.
    • Prioritize Debt Management: Consider making extra payments on student loans or refinancing options to lower interest rates. If you have federal student loans, explore income-driven repayment options that adjust your monthly payments based on your income.
    • Spend Responsibly: Comparison shop before making major purchases and stay within budget to avoid jeopardizing your financial goals.
    • Invest in Yourself: Explore opportunities to continue your professional development and increase your earning potential. Many employers offer education benefits or tuition reimbursement programs that can offset costs and lead to long-term career growth.
    • Automate Savings: Set up automatic transfers to a savings account at First Federal Savings Bank. Even small, regular contributions can grow into significant savings over time, thanks to compound interest and can also provide a cushion against unexpected life events.
    • Understand Taxes: For many new graduates, taxes can be confusing. Ask about financial tools or resources available to ensure you’re filing correctly and maximizing refunds.

    “It’s never too early to take stock of your financial situation, develop and maintain good financial habits, and create a framework to help meet your financial goals and prepare for unexpected life occurrences,” said ICBA President and CEO Rebeca Romero Rainey. “Reach out to your local community banker to create an action plan to put your finances to work to help ensure your prosperous financial future.”

    To learn more about how to take control of your financial future, contact First Federal Savings Bank or stop by any of our 10 convenient locations.

    About First Federal Savings Bank Member FDIC

    First Federal Savings Bank was established on Evansville, Indiana’s Westside in 1904. A community bank offering eight locations in Posey, Vanderburgh, Warrick, and Henderson County. First Federal Savings Bank is also proud to offer Home Building Savings Bank locations in Daviess and Pike County.

    About ICBA

    The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.

    As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

    The MIL Network –

  • MIL-OSI: MiddleGround Capital Completes Add-On for Xtrac with Acquisition of Zoerkler

    Source: GlobeNewswire (MIL-OSI)

    LEXINGTON, Ky., May 08, 2025 (GLOBE NEWSWIRE) — MiddleGround Capital (“MiddleGround”), an operationally focused private equity firm that makes control investments in North American and European headquartered middle-market B2B industrial and specialty distribution companies, today announced that it has acquired Zoerkler GmbH & Co KG (“Zoerkler” or “the Company”), an Austria-based manufacturer and supplier of high-performance transmission components for the aerospace & defense, automotive, rail, and industrial industries. Zoerkler will be integrated into MiddleGround’s portfolio company, Xtrac, a leading designer, manufacturer, and supplier of high-performance transmissions and mechatronics for top-level professional motorsport and specialist high-performance automotive applications.

    Headquartered in Jois, Austria, Zoerkler is a leading manufacturer of gearing solutions and transmission systems specializing in high-performance applications serving industrial and mobility end-markets, including motorsport, automotive, aerospace & defense, agriculture, and rail. Zoerkler’s capabilities span the entire value chain, with an emphasis on R&D and prototyping activities that allow small-series production with high-batch-size spare parts to serve customers in short lead times that are best-in-class for the industry.

    “We’re very excited to welcome the Zoerkler team to the Xtrac platform. Zoerkler is well-established and highly regarded in the industry and offers a unique opportunity to bring a complementary transmission and drivetrain component specialist to our portfolio,” said John Stewart, Founding and Managing Partner of MiddleGround. “This acquisition underscores our commitment to partnering with leading technology and engineering companies aligned with our Mobility Thesis. Further, Zoerkler brings attractive end-market diversification to our Xtrac platform, allowing us to unlock new segments and customer demand, expand our high-performance engineering expertise into aerospace & defense, and other segments, and augment Xtrac’s long-term growth potential.”

    As a trusted partner of several blue-chip customers for high-quality components, including Leonardo, Safran, Mercedes AMG, Porsche, Honda and Comer Industries, Zoerkler has established a meaningful network which will enhance Xtrac’s product line and expand its offerings into highly attractive markets, whilst ensuring focus on serving long standing core motorsport and high performance automotive customers. The company’s production capabilities complement Xtrac’s, and its world-class manufacturing quality will unlock existing demand from both current and new motorsport and high-performance automotive customers. Further, Zoerkler’s additional machining capacity will facilitate higher production volumes and new programs across the Xtrac platform.

    “For over 100 years, Zoerkler has been recognized for superior quality and innovation in developing and producing premium drive systems,” said Bernhard Wagner, CEO at Zoerkler. “Joining forces with a cutting edge, market-leading brand like Xtrac will create new engineering and manufacturing synergies for both businesses. Additionally, MiddleGround’s operational expertise, combined with their support of our core values of quality, precision, reliability, and safety, makes them an ideal partner as we enter this next phase of growth.”

    “Adding Zoerkler to the Xtrac platform is highly exciting. As well as providing additional capacity and an established presence within Europe, the addition of Zoerkler will bring new products, precision manufacturing capacity, and an established aerospace presence, allowing us to better serve the complex needs of our customers,” said Adrian Moore, CEO at Xtrac. “Zoerkler’s unwavering commitment to innovation, quality, and customer satisfaction perfectly aligns with our mission, which prioritizes R&D, technological advancements, and the continuous development of our team, with exceptional customer service.”

    With the acquisition of Zoerkler, MiddleGround is further building on its extensive experience in electric drive systems manufacturing and the powersports aftermarket segments. Having already invested in Helix, a leading designer and manufacturer of the world’s most power-dense electric motors and inverters, and New Eagle, a leading provider of proprietary hardware and software technology solutions that are mission-critical for the development of mechanical control systems for a variety of applications, including autonomous and electric vehicles, MiddleGround continues to expand its portfolio of companies within the mobility sector.

    About Zoerkler GmbH & Co KG
    Headquartered in Jois, Burgenland, AT, Zoerkler is a leading manufacturing company specializing in high-performance drive systems for the aerospace, automotive, and industrial sectors. Founded more than 120 years ago, the firm is family-owned and owner-managed. They are guided by the principle “the spirit of precision”, and pay attention to quality, precision, reliability and safety in products as well as actions. Zoerkler is a reliable partner for companies worldwide in the development and production of high-quality drive systems. With expertise spanning the entire development process—from design and prototyping to series production—Zoerkler delivers customized solutions that meet the highest industry standards. For more information, please visit http://www.zoerkler.at.

    About Xtrac
    Based in Berkshire in the UK and Indiana and North Carolina in the US, Xtrac is a prominent ambassador for the UK’s world-renowned motorsport industry.

    Established in 1984, the company employs around 500 highly qualified employees, including those trained through Xtrac’s award-winning apprentice and undergraduate schemes to work on global customer programmes, supplying world-class transmission and driveline products, including gearboxes, differentials, and gearchange systems. It exports around 70 per cent of its manufacturing output to Asia, Australia, Europe, South America, and the US.

    Xtrac works mainly with the high-performance automotive sector alongside its traditional heartland of the motorsport industry. Customers of its high-performance automotive and motorsport business sectors rely on its specialist expertise, augmented by the company’s substantial investment in research and innovation supported by advanced design, engineering and manufacturing resources.

    For further information, please visit www.xtrac.com.

    About MiddleGround Capital
    MiddleGround Capital is a private equity firm based in Lexington, Kentucky with over $3.85 billion of assets under management. MiddleGround makes control equity investments in middle market B2B industrial and specialty distribution businesses. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. For more information, please visit: https://middleground.com/.

    MiddleGround Capital Media Contacts
    Doug Allen/Maya Hanowitz
    Dukas Linden Public Relations
    MiddleGround@dlpr.com
    +1 (646) 722-6530

    The MIL Network –

  • MIL-OSI: UAB “Valstybės investicinis kapitalas” Dividend Decision

    Source: GlobeNewswire (MIL-OSI)

    UAB Valstybės investicinis kapitalas, UAB informs that the company’s shareholder has decided to allocate EUR 34,059 for dividends. The remaining share of profit available for distribution EUR 6,777,798 will be allocated to the legal reserve.

    This decision follows the Resolution No. 256 of the Government of the Republic of Lithuania dated April 30, 2025 “Regarding the Dividends Payable by UAB Valstybės investicinis kapitalas for Shares Owned by the State”, which authorized the Ministry of Finance to decide in 2025 to allocate 0.5 percent of the company’s profit available for distribution for the 2024 financial year to dividends.

    Enclosed:

    Approved distribution of Valstybės investicinis kapitalas UAB profit (loss) for the year 2024.

    Contact person:

    Vaidas Daktariunas
    Valstybės investicinis kapitalas UAB, Chief Executive Officer
    Phone: +370 618 29216
    E-mail: vaidas.daktariunas@vika.lt

    Attachment

    The MIL Network –

  • MIL-OSI: Subsea 7 S.A. announces changes to Board composition

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 8 May 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the election of Lucia Andrade as a Non-Executive Director at the 2025 annual general meeting of shareholders (AGM) and the decision of Jean Cahuzac to retire from his position as Non-Executive Director with immediate effect.

    Jean has served on the Board since 2008, and was also CEO of Subsea7 until 31 December 2019. The Board would like to thank him for his commitment and valuable contribution to Subsea7.

    Jean was a member of the Compensation Committee and the Tender Committee and changes to committee memberships will be discussed at the next meeting of the Board, later this month.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com
    agm@subsea7.com

    This information is subject of the disclosure requirements of the Norwegian Securities Trading Act.
    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 8 May 2025 at 17:00 CET.

    Attachment

    The MIL Network –

  • MIL-OSI: Subsea 7 S.A. – 2025 AGM and EGM

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 8 May 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today announced that, at the 2025 annual general meeting of shareholders (AGM) on 8 May 2025, all resolutions were approved, including the payment of a dividend of NOK 13.00 per common share, to be paid in two equal instalments.

    In addition, at the subsequent extraordinary general meeting of shareholders (EGM) on the same day, both proposed resolutions, which related to (i) to the authority of the Board of Directors to repurchase and, as the case may be, to subsequently cancel Company shares and reduce the issued share capital accordingly and (ii) the renewal of authorisation for the Board of Directors to issue new shares and to limit or suppress preferential subscription rights, for up to 10% of the issued share capital, were approved.

    The minutes of both the AGM and EGM which detail the resolutions passed and the result of the votes cast in relation to each resolution and the changes to the Company’s articles of association are attached hereto. The minutes can also be found on the Company’s website.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com
    agm@subsea7.com

    This information is subject to the disclosure requirements of the Norwegian Securities Trading Act. 
    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 8 May 2025 at 17:15 CET.

    Attachments

    The MIL Network –

  • MIL-OSI: Virtru Names Wayne Chung as CTO to Drive Next Phase of Innovation and Growth

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, May 08, 2025 (GLOBE NEWSWIRE) — Virtru, a leader in data-centric security, today announced Dr. Wayne Chung has joined the company as Chief Technology Officer (CTO), where he will lead technical strategy and execution, partnering with Will Ackerly, Virtru Co-Founder, Chief Architect, and inventor of the Trusted Data Format (TDF), an open standard for data-centric security that is rapidly being adopted by national defense and intelligence agencies around the world.

    Chung’s appointment marks a significant milestone for Virtru as it accelerates the deployment of its Data Security Platform in the national security and commercial markets—while simultaneously growing its 6,000+ customer commercial SaaS business.

    “I’m honored to join Virtru at such an exciting moment,” said Chung. “The team’s vision for data-centric security across SaaS, defense, and AI is both bold and timely. Our national institutions need the fine-grained security, control, and simplicity that Virtru provides. I look forward to partnering with this team to scale Virtru’s impact and drive greater adoption of data-centric security.”

    Chung brings an exceptional track record with executive roles across both public and private sectors. At the FBI, he served as CTO, leading cloud migration, cybersecurity modernization, and the development of advanced data analytics, AI and ML capabilities. Chung also previously held the position of Innovator-In-Residence at the NSA’s Cybersecurity and Computer Network Operations Mission. He currently serves as a Technical Amicus Curiae to the U.S. Foreign Intelligence Surveillance Courts, and is a Senior Fellow at the Center for National Security and the Law at Georgetown University.

    In the private sector, Chung has held CTO roles at BlueVoyant and Clara Analytics, where he scaled cutting-edge data security and AI platforms.

    Ackerly will focus on advancing Virtru’s technical architecture and research, continuing to lead innovation efforts surrounding the Trusted Data Format (TDF) and pushing the boundaries of what data-centric solutions can achieve in the era of agentic AI.

    “As Virtru continues to deploy software at scale across large federal and commercial organizations, Wayne’s unique blend of public and private-sector experience is a valuable asset to our team,” said Ackerly. “His leadership will help Virtru remain ahead of the curve in enabling secure, data-centric collaboration for both government and enterprise customers.”

    For more information about Virtru and its Data Security Platform, please visit www.virtru.com.

    About Virtru

    Virtru empowers organizations to unlock the power of data while maintaining control wherever it’s stored and shared. Trusted by over 6,000 global customers, Virtru provides simple, powerful solutions for Zero Trust data-centric security, underpinned by the Trusted Data Format (TDF). Learn more at Virtru.com.

    Press Contact

    Nick Michael

    nick.michael@virtru.com 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28f2b422-d0c8-4752-aa9a-1474581b2058

    The MIL Network –

  • MIL-OSI: Tech CU Expands Executive Leadership Team with Strategic Appointments

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif. , May 08, 2025 (GLOBE NEWSWIRE) — Technology Credit Union (Tech CU) today welcomed two new leaders to its executive team: Terri Giannetti as Chief Marketing Officer and Josh Bluhm as Chief Lending Officer. These hires underscore Tech CU’s continued focus on growth, innovation, and delivering a strong member experience.

    As Chief Marketing Officer, Giannetti will be responsible for developing and executing strategies to drive lead generation, sales conversion, market share growth, member retention, and brand awareness. She brings over 27 years of leadership experience across the financial services and retail industries, most recently serving as Chief Experience Officer at Seattle Credit Union. There, she led a 72-person team spanning marketing, brand, retail, contact center, and facilities.

    “Terri’s extensive background in marketing, customer segmentation, data analytics and member experience, paired with her leadership at both credit unions and well-known retail brands, makes her an ideal fit to lead our marketing strategy,” said Todd Harris, CEO of Tech CU. “Her ability to align marketing and operational goals will be essential as we continue building momentum toward our current and future goals.”

    Additionally, Josh Bluhm has been promoted to Chief Lending Officer and officially joined Tech CU’s Executive Team. In this role, he will continue overseeing Consumer and Strategic Lending while focusing on growth and operational excellence.

    Bluhm brings over 27 years of banking and financial services leadership experience, with expertise spanning consumer lending, credit risk, and operations. Prior to becoming Chief Lending Officer, he served as Senior Vice President and Head of Retail Credit Risk and Operations at Tech CU, where he played a key role in creating operational efficiencies, implementing a strong consumer credit risk strategy, and driving lending growth. Earlier in his career, he held leadership positions at Peoples Bank and Whatcom Educational Credit Union.

    “Josh has demonstrated outstanding leadership and vision, particularly in executing a thoughtful structure for our new lending division,” said Harris. “His commitment to performance and collaboration has made a big impact, and I’m confident he will continue to elevate our lending programs as part of the executive team.”

    Bluhm was promoted to Chief Lending Officer in late 2024 and has since led the integration of new reporting lines, roles, and process redesign to support Tech CU’s evolving lending strategy.

    For more information about Tech CU, visit www.techcu.com.

    About Tech CU
    Tech CU is a $4.7 billion Bay Area credit union. As a federally insured not-for-profit organization, Tech CU has invested its resources to deliver superior rates, lower fees, and outstanding service and member benefits for more than 60 years while also supporting quality of life in local communities. It serves more than 200,000 members throughout the United States and provides financial products for all stages of its members’ lives, including personal banking, wealth management, private banking, commercial lending, and business banking. To learn more, please visit www.techcu.com.

    Contact:
    Linden Kohtz
    Public Relations, Tech CU
    lkohtz@techcu.com

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