Category: GlobeNewswire

MIL-OSI: Caliber Enters Exclusive Development Agreement with Hyatt to Bring 15 Hyatt Studios Hotels to Key U.S. Markets

Source: GlobeNewswire (MIL-OSI)

SCOTTSDALE, Ariz., May 06, 2025 (GLOBE NEWSWIRE) — Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, today announced that it has entered into a Development Rights Agreement with an affiliate of Hyatt Hotels Corporation (NYSE: H) to develop 15 new Hyatt Studios hotels in the United States. Under the terms of the agreement, Caliber Hospitality Development (“CHD”) will receive exclusive development rights for future development of Hyatt Studios hotels in target market areas within Arizona, Colorado, Nevada, Texas and Louisiana. Construction on the first hotel, located in Georgetown, Texas, a city within the Austin metropolitan district, is expected to break ground in the fourth quarter of 2025. The second hotel within the agreement will be in Scottsdale, Arizona and is expected to break ground second quarter of 2026.

Announced in 2023, Hyatt Studios is Hyatt’s first upper-midscale extended-stay brand, concepted in direct collaboration with owners and informed by guest feedback, featuring an efficient build cost, lean operating model, and design flexibility—all supported by Hyatt’s powerful commercial engine. Each Hyatt Studios hotel will include approximately 122 apartment-style suites equipped with in room kitchens, free high-speed fiber internet, EV charging stations, complimentary grab-and-go breakfast, a 24/7 market, self-service laundry, fitness studio, and pet friendly accommodations.

“Our new Hyatt Studios brand has been steadily growing since we announced it in 2023, and today we have more than 50 executed deals that will extend the Hyatt brand into more than 20 new markets,” said Jim Chu, Chief Growth Officer, Hyatt. “We are excited to be working with Caliber on the development of at least 15 new properties, many of which are expected to be located in new markets for Hyatt. This significant development agreement will advance Hyatt’s ongoing evolution, as we aim to make our brands even more profitable for owners and more desirable for travelers.”

“We are very excited about our new relationship with Hyatt, a world-class brand that shares our steadfast commitment to superior service for our guests,” said Chris Loeffler, CEO of Caliber. “As a hospitality investor and developer since 2013, Caliber has taken notice that hotel inventory across the United States is lower today than it was in January of 2020. This, combined with historically low new construction starts, and a recent return of demand for hotel rooms, makes the case to develop Hyatt Studios hotels in attractive, underserved markets. The Hyatt Studios brand offers Caliber the opportunity to capture a fundamental change in the way people work and their desire to stay in a hotel that feels like home for a longer trip,” continued Mr. Loeffler.

Caliber expects to develop 15 hotels over the course of the next three to five years, as the market bears opportunities, and will seek to expand the agreement if market conditions allow. Caliber expects these developments to deliver $400 million in additional assets under management (AUM) to the Platform, delivering an attractive operating margin and significant growth in annual and one-time Platform revenue.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Caliber (CaliberCos Inc.)
With more than $2.9 billion of managed assets, including estimated costs to complete assets under development, Caliber’s 15-year track record of managing and developing real estate is built on a singular goal: make money in all market conditions. Our growth is fueled by our performance and our competitive advantage: we invest in projects, strategies, and geographies that global real estate institutions do not. Integral to our competitive advantage is our in-house shared services group, which offers Caliber greater control over our real estate and visibility to future investment opportunities. There are multiple ways to participate in Caliber’s success: invest in Nasdaq-listed CaliberCos Inc. and/or invest directly in our Private Funds.

About Caliber Hospitality Trust
Caliber Hospitality Trust (“CHT”), an externally advised private hospitality corporation, is a subsidiary of CaliberCos Inc. (NASDAQ: CWD). Led by an experienced team of agile entrepreneurs and specialists, CHT offers a unique opportunity in an UPREIT strategy for hotel owners and managers to access scale on a tax-deferred basis. CHT is targeting middle-market, full service, select service, extended stay, and lifestyle hotels in attractive geographic locations. CHT’s asset management technology enables management of mixed asset classes, top-tier brands, and third-party managers, who all interact via an integrated platform. More information at CaliberHospitality.com

About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2025, the Company’s portfolio included more than 1,450 hotels and all-

inclusive properties in 79 countries across six continents. The Company’s offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Sunscape® Resorts & Spas, Alua Hotels & Resorts®, and Bahia Principe Hotels & Resorts; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Studios, Hyatt Select, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the Company’s public offering filed with the SEC and other reports filed with the SEC thereafter. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

CONTACTS:
Caliber:
Ilya Grozovsky
+1 480-214-1915
Ilya@caliberco.com

The MIL Network –

May 6, 2025
MIL-OSI: RentRedi Launches “The Rental Pro” Newsletter to Help Landlords Grow Their Rental Businesses
Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — RentRedi, the fastest-growing all-in-one property management software that makes renting easy for both landlords and renters, announces The Rental Pro newsletter, offering a powerful monthly resource designed to provide landlords, investors, real estate agents, and property managers with expert insights, real estate data, and actionable strategies. Delivered monthly, The Rental Pro is open to anyone interested in real estate investing or rental housing—not just RentRedi customers.

The Rental Pro marks a strategic evolution with a strong focus on investment growth. The newsletter is tailored specifically to those navigating the rental housing market, offering in-depth exclusive rental market data, expert commentary, and actionable advice that helps readers make smarter investment decisions, improve operations, and unlock new opportunities in real estate investing.

“The Rental Pro Newsletter is designed for real estate investors who want to work smarter, not harder—and grow faster because of it,” said RentRedi Co-founder and CEO Ryan Barone. “We’re giving them the tools, insights, and strategies to stay ahead of the curve and scale with confidence.”

Whether you’re managing a single-family home or expanding a multi-unit portfolio, this newsletter offers guidance that fuels sustainable business growth.

What readers will learn:
- How to identify trends and capitalize on market opportunities
- Ways to streamline property operations and reduce overhead
- Insights into pricing strategies, maintenance planning, and tenant retention
- Exclusive data reports and expert analysis not found anywhere else
- Tips for navigating regulations, leveraging tech, and scaling smarter
With The Rental Pro, RentRedi continues its mission to make property management not only more accessible and efficient, but also more strategic and growth-oriented.

To subscribe to The Rental Pro, visit: rentredi.com/newsletter.

About RentRedi

RentRedi offers an award-winning, comprehensive property management platform that simplifies the renting process for landlords and renters by automating and streamlining processes. DIY landlords can quickly grow their rental businesses by using RentRedi’s all-in-one web and mobile app for rent collection, market listings, tenant screening, lease signing, maintenance coordination, and accounting. Tenants enjoy the convenience and benefits of RentRedi’s easy-to-use mobile app that allows them to pay rent, set up auto-pay, build credit by reporting rent payments to all three major credit bureaus, prequalify and sign leases, and submit 24/7 maintenance requests.

Founded in 2016, RentRedi is VC-backed and a proven leader in the PropTech market. The company ranks No. 180 on the Inc. 5000 list and No. 13 on the Inc. 5000 Regionals list. It was also named an Inc. Power Partner in 2023 and 2024, and to Fast Company’s Next Big Things in Tech list in 2024, as well as HousingWire’s Tech100 list in 2025. To date, RentRedi has more than $28 billion in assets under management with nearly 200,000 landlords and tenants using its platform. The company partners with technology leaders such as Zillow, TransUnion, Experian, Equifax, Realtor.com, Lessen, Thumbtack, Plaid, and Stripe to create the best customer experience possible. For more information visit RentRedi.com.

The MIL Network –
May 6, 2025

MIL-OSI: YieldMax™ ETFs Announces Distributions on BIGY ($0.4609) and SOXY ($0.4384)

Source: GlobeNewswire (MIL-OSI)

CHICAGO and MILWAUKEE and NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Target 12™ ETFs listed in the table below. The Fund seeks to generate income with a 12% target annual income level.

ETF Ticker¹	ETF Name	Distribution Frequency	Distribution per Share	Distribution Rate²	30-Day SEC Yield³	ROC⁴	Ex-Date & Record Date	Payment Date
BIGY	YieldMax™ Target 12™ Big 50 Option Income ETF	Monthly	$0.4609	12.00%	0.18%	66.89%	5/7/25	5/8/25
RNTY*	YieldMax™ Target 12™ Real Estate Option Income ETF	Monthly	–	–	–	–	–	–
SOXY	YieldMax™ Target 12™ Semiconductor Option Income ETF	Monthly	$0.4384	12.00%	0.12%	100.00%	5/7/25	5/8/25

You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero.

Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

*The inception date for RNTY is April 16, 2025.

¹Each ETF’s strategy will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF.

²The Distribution Rate shown is as of close on May 5, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

³The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended April 30, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

⁴ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

Standardized Performance

For BIGY, click here. For SOXY, click here. For RNTY, click here.

Important Information

This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

Tidal Financial Group is the adviser for all YieldMax™ ETFs.

THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

Important Information
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

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

Tidal Financial Group is the adviser for all YieldMax™ ETFs.

THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

Risk Disclosures

Investing involves risk. Principal loss is possible.

Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

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

Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

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

Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

The MIL Network –

May 6, 2025

MIL-OSI: Greenbacker’s Cider solar project awarded North American Solar Deal of the Year
Source: GlobeNewswire (MIL-OSI)
- Utility-scale solar farm awarded for its innovative financing package—which includes one of the market’s earliest tax credit transfer bridge loans—on an industry-leading clean energy infrastructure project.
- Financing supports construction and operation of 674 MWdc / 500 MWac Cider, Greenbacker’s largest clean energy asset to date, expected to be the largest solar farm in the state of New York when completed in 2026.
NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“Greenbacker”), an energy transition-focused investment manager and independent power producer, is proud to announce today that its Cider solar project (“Cider”) has been named the 2024 North American Solar Deal of the Year by Proximo Infra.

The award honors the innovative multi-tranche financing package behind the project, which includes one of the market’s earliest tax credit transfer bridge loans. The nearly $1 billion project financing supports the construction and operation of the 674 MWdc / 500 MWac utility-scale project in Genesee County, New York—the largest solar project ever built in the state and the largest clean energy asset in Greenbacker’s portfolio to date.

The financing package comprises a $418 million tax equity bridge loan, a $373 million construction-to-term loan, and $79 million in letters of credit. It also includes an additional $81 million mezzanine financing in the form of a development loan.

This recognition underscores Greenbacker’s continued commitment to advancing the energy transition through strong industry partnerships and innovative financing packages.

“We’re incredibly proud of our team’s innovation, dedication, and expertise in bringing this financing to life,” said Carl Weatherley-White, interim CFO of Greenbacker. “While this award recognizes the innovative deal structure behind Cider, it’s also a reflection of the successful collaboration with our financing partners, our development partner Hecate Energy, our engineering, procurement, and construction managers, and a number of specialty firms we partnered with to make this project a reality. Greenbacker was able to realize this milestone with the commitment and precision of all parties involved.”

“Cider’s financing structure combined a range of innovative instruments—including the tax credit transfer bridge loan, deal-contingent interest rate hedges, and dual tranche construction and term-loan facilities—while at the same time balancing and optimizing between two different sources of capital: traditional bank financing and mezzanine financing,” said Michael Dudum, VP on Greenbacker’s infrastructure investment team. “This thoughtful layering allowed us to optimize the capital stack and deliver the project in a highly efficient, cost-effective way.”

The project was acquired from long-standing partner Hecate Energy, a leading US developer with a renewable energy and energy storage pipeline exceeding 43.7 GWac of projects. Cider broke ground in November 2024 and is expected to reach commercial operation in late 2026. Once operational, the project is estimated that Cider will generate enough clean energy to power more than 120,000 homes annually.¹

Over its lifetime, Cider is expected to generate approximately $100 million in tax revenue to the local community, funds that can support essential community services, such as local first responders, and important infrastructure, including area roadways, libraries, and schools.

As of December 31, 2024, Greenbacker’s clean energy assets had cumulatively produced more than 11 million MWh of clean power since January 2016, abating over 7 million metric tons of carbon² and saving nearly 8 billion gallons of water.³ Greenbacker’s fleet of operating and pre-operating projects currently support, or are expected to support, thousands of green jobs.⁴

About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides asset management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its asset management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

Greenbacker media contact
Chris Larson
Media Communications
646.569.9532
c.larson@greenbackercapital.com

¹Governor Hochul Announces Siting Approval of New York’s Largest Solar Facility to Date, governor.ny.gov.
² Data is as of December 31, 2024. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO₂ marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
³ Data is as of December 31, 2024. Water saved by Greenbacker’s clean energy projects is compared to the amount of water needed to produce the same amount of power by burning coal. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.
⁴ Data is as of December 31, 2024. Green jobs calculated using The National Renewable Energy Laboratory (NREL) State Clean Energy Employment Projection Support, nrel.gov.

The MIL Network –
May 6, 2025
MIL-OSI: Prairie Operating Co. Expands Senior Leadership Team

Source: GlobeNewswire (MIL-OSI)

HOUSTON, TX, May 06, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”) – an independent energy company engaged in the development and acquisition of oil and natural gas resources in the Denver-Julesburg (DJ) Basin – today announced the appointment of Maree K. Delgado, CPA, as Senior Vice President of Accounting & Controller.

With over two decades of experience across financial accounting, regulatory compliance, and risk management, primarily within the energy sector, Ms. Delgado brings a proven track record of building and leading high-performing finance teams through both growth and transformation. Her appointment reflects Prairie’s continued focus on operational excellence, financial discipline, and strong governance as it scales its DJ Basin platform.

Most recently, Ms. Delgado served as E&P Controller at Antero Resources Corporation, where she led all aspects of financial reporting, SOX compliance, treasury, and revenue accounting. During her tenure, she played a critical role in implementing strategic financial partnerships, driving internal efficiencies, and overseeing two major system implementations. Prior to Antero, she held key executive roles at Ultra Petroleum Corp (now PureWest Energy), including Vice President and Chief Accounting Officer, where she managed accounting, tax, treasury, and marketing back-office operations through significant corporate transitions.

Ms. Delgado is a Certified Public Accountant and holds a Bachelor of Commerce in Accounting and Business Law from Curtin University of Technology in Western Australia. She is licensed in the state of Colorado and brings global audit experience from her time at KPMG, where she managed energy-focused audits across multiple continents.

“Maree is a proven leader with deep experience across all facets of energy accounting, financial reporting, and compliance,” said Greg Patton, EVP and CFO of Prairie. “On behalf of the Prairie team, I’d like to welcome her to the team as we continue executing our strategic growth plan.”

About Prairie Operating Co.

Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil and natural gas resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation. More information about the Company can be found at www.prairieopco.com.

Forward-Looking Statement

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “strive”, “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. There may be additional risks not currently known by the Company or that the Company currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact the Company’s expectations can be found in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K filed with the SEC on March 6, 2025, and any subsequently filed Quarterly Report and Current Report on Form 8-K. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Investor Relations Contact:
Wobbe Ploegsma
info@prairieopco.com
832.274.3449

The MIL Network –

May 6, 2025

MIL-OSI: CareCloud Delivers Growth and Strong Cash Flow in Q1 2025, Advances AI and Acquisition Strategy

Source: GlobeNewswire (MIL-OSI)

SOMERSET, N.J., May 06, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO), a leader in healthcare technology and generative AI solutions, today announced strong financial results for the three months ended March 31, 2025. CareCloud’s strategic execution, AI-driven innovation, and disciplined financial management have fueled a transformational turnaround, positioning the Company for sustained profitability and long-term growth. Management will discuss these results and the Company’s 2025 growth strategies in a live conference call today at 8:30 a.m. ET.

First Quarter 2025 Financial Highlights:

Revenue of $27.6 million, compared to $26.0 million in Q1 2024, an increase of 6% year-over-year
GAAP net income of $1.9 million, compared to a net loss of $241,000 in Q1 2024
Adjusted EBITDA of $5.6 million, compared to $3.7 million in Q1 2024, an increase of 52%
Adjusted net income of $2.3 million, or $0.05 per share
Cash balance of $6.8 million and net working capital of $11.7 million as of March 31, 2025

Recent Strategic Updates

AI Center of Excellence Launched: CareCloud launched its dedicated AI Center of Excellence, onboarding the first wave of over 50 AI professionals and aiming to scale to 500 AI specialists by fourth quarter 2025. The initiative is fully self-funded through operating cash flows.
Series A Preferred Stock Conversion Completed: Successfully converted 3.5 million Series A preferred shares into 26 million common shares, reducing the annual dividend commitment by approximately $7.7 million and strengthening cash flow and the capital structure.
Resumption of Preferred Dividends: Payments of preferred dividends resumed in February 2025.
Acquisition Strategy Reignited: Completed two strategic acquisitions in March and April 2025, with additional acquisition opportunities actively under evaluation.

Management Commentary:

“The launch of our AI Center of Excellence marks a pivotal moment in CareCloud’s evolution,” said A. Hadi Chaudhry, Co-CEO of CareCloud. “By building one of the largest dedicated healthcare AI teams globally, we believe we are creating real-world solutions to automate clinical workflows, optimize revenue cycle management, and improve patient outcomes. This initiative is intended to accelerate our operational efficiency as well as positioning CareCloud at the forefront of intelligent healthcare transformation — driving sustainable profitability and long-term growth for ourselves and the healthcare providers who use our services.”

“After record profits and a successful turnaround in 2024, we are excited to announce continued momentum and strength as we enter 2025,” said Co-CEO Stephen Snyder. “With two recent acquisitions and the launch of our AI Center of Excellence, CareCloud is not just responding to the market shift — we are intending to lead it.”

“We are pleased to announce our fourth consecutive quarter of positive GAAP net income and an increase in revenue and adjusted EBITDA year over year,” said Norman Roth, Interim CFO and Corporate Controller of CareCloud. “We have resumed paying our Preferred Stock dividends monthly out of internally-generated free cash flow, while generating additional profits and cash flow to reinvest for future growth. To date we have declared six months of Preferred Stock dividends.”

Capital

On March 31, 2025, the Company had 984,530 shares of Series A Preferred Stock and 1,511,372 shares of non-convertible Series B Preferred Stock outstanding. As of March 31, 2025, the Series A and B shares both accrued dividends at the rate of 8.75% per annum, based on the $25.00 per share liquidation preference (equivalent to $2.1875 annually per share), and they are redeemable at the Company’s option once the preferred stock dividends are brought current.

2025 Guidance: Poised for Growth

CareCloud is reconfirming its earnings guidance for 2025, expecting:

For the Fiscal Year Ending December 31, 2025 Forward-Looking Guidance
Revenue	$111 – $114 million
Adjusted EBITDA	$26 – $28 million
Net Income Per Share (EPS)	$0.10 – $0.13

The Company continues to anticipate full year 2025 revenue of approximately $111 to $114 million. Revenue guidance is based on management’s expectations regarding revenue from existing clients, organic growth in new client additions and anticipated number of small tuck-in acquisitions.

Adjusted EBITDA is expected to be $26 to $28 million for full year 2025 and reflects improvements from the Company’s cost reduction efforts. EPS is expected to be $0.10 to $0.13 for full year 2025.

Conference Call Information

CareCloud management will host a conference call today at 8:30 a.m. Eastern Time to discuss the first three months of 2025 results. The live webcast of the conference call and related presentation slides can be accessed at ir.carecloud.com/events. An audio-only option is available by dialing 201-389-0920 and referencing “CareCloud First Quarter 2025 Results Conference Call.” Investors who opt for audio-only will need to download the related slides at ir.carecloud.com/events.

A replay of the conference call and related presentation slides will be available approximately three hours after conclusion of the call at the same link. An audio-only option can also be accessed by dialing 412-317-6671 and providing the access code 13753440.

Use of Non-GAAP Financial Measures

In our earnings releases, prepared remarks, conference calls, slide presentations, and webcasts, we use and discuss non-GAAP financial measures, as defined by SEC Regulation G. The GAAP financial measure most directly comparable to each non-GAAP financial measure used or discussed, and a reconciliation of the differences between each non-GAAP financial measure and the comparable GAAP financial measure, are included in this press release after the condensed consolidated financial statements. Our earnings press releases containing such non-GAAP reconciliations can be found in the Investor Relations section of our web site at ir.carecloud.com.

Forward-Looking Statements

This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, manage and keep our information systems secure and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

About CareCloud

CareCloud (Nasdaq: CCLD, CCLDO) brings disciplined innovation and generative AI solutions to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), artificial intelligence (AI), business intelligence (BI), patient experience management (PXM) and digital health, at carecloud.com.

Follow CareCloud on LinkedIn, X and Facebook.

For additional information, please visit our website at carecloud.com. To listen to video presentations by CareCloud’s management team, read recent press releases and view the latest investor presentation, please visit ir.carecloud.com.

SOURCE CareCloud

Company Contact:
Norman Roth
Interim Chief Financial Officer and Corporate Controller
CareCloud, Inc.
nroth@carecloud.com

Investor Contact:
Stephen Snyder
Co-Chief Executive Officer
CareCloud, Inc.
ir@carecloud.com

CARECLOUD, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
($ in thousands, except share and per share amounts)

		March 31,			December 31,
		2025			2024
		(Unaudited)
ASSETS
Current assets:
Cash	$	6,805		$	5,145
Accounts receivable – net		13,887			12,774
Contract asset		4,457			4,334
Inventory		609			574
Current assets – related party		16			16
Prepaid expenses and other current assets		2,843			1,957
Total current assets		28,617			24,800
Property and equipment – net		5,323			5,290
Operating lease right-of-use assets		3,097			3,133
Intangible assets – net		16,877			18,698
Goodwill		19,186			19,186
Other assets		456			507
TOTAL ASSETS	$	73,556		$	71,614
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	4,951		$	4,565
Accrued compensation		2,865			1,817
Accrued expenses		5,002			4,951
Operating lease liability (current portion)		1,355			1,287
Deferred revenue (current portion)		1,297			1,212
Notes payable (current portion)		133			310
Contingent consideration (current portion)		47			–
Dividend payable		1,299			5,438
Total current liabilities		16,949			19,580
Notes payable		23			26
Contingent consideration		60			–
Operating lease liability		1,776			1,847
Deferred revenue		571			387
Total liabilities		19,379			21,840
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.001 par value – authorized 7,000,000 shares. Series A, issued and outstanding 984,530 and 4,526,231 shares at March 31, 2025 and December 31, 2024, respectively. Series B, issued and outstanding 1,511,372 shares at March 31, 2025 and December 31, 2024.		2			6
Common stock, $0.001 par value – authorized 85,000,000 shares. Issued 43,061,928 and 16,997,035 shares at March 31, 2025 and December 31, 2024, respectively. Outstanding 42,321,129 and 16,256,236 shares at March 31, 2025 and December 31, 2024, respectively		43			17
Additional paid-in capital		123,537			121,046
Accumulated deficit		(64,682	)		(66,630	)
Accumulated other comprehensive loss		(4,061	)		(4,003	)
Less: 740,799 common shares held in treasury, at cost at March 31, 2025 and December 31, 2024		(662	)		(662	)
Total shareholders’ equity		54,177			49,774
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	73,556		$	71,614

CARECLOUD, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
($ in thousands, except share and per share amounts)
	Three Months Ended
	March 31,
	2025			2024*
NET REVENUE	$	27,632		$	25,962
OPERATING EXPENSES:
Direct operating costs		15,464			15,177
Selling and marketing		1,131			1,770
General and administrative		4,332			3,721
Research and development		1,235			913
Depreciation and amortization		3,337			3,930
Restructuring costs		114			322
Total operating expenses		25,613			25,833
OPERATING INCOME		2,019			129
OTHER:
Interest income		42			27
Interest expense		(58	)		(365	)
Other (expense) income – net		(14	)		7
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES		1,989			(202	)
Income tax provision		41			39
NET INCOME (LOSS)	$	1,948		$	(241	)

Preferred stock dividend		2,811			1,312
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(863	)	$	(1,553	)

Net loss per common share: basic and diluted	$	(0.04	)	$	(0.10	)
Weighted-average common shares used to compute basic and diluted loss per share		23,813,943			16,014,309

* Restated to include the preferred stock dividends earned, but not declared, during the three months ended March 31, 2024.

CARECLOUD, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024
($ in thousands)

		2025			2024
OPERATING ACTIVITIES:
Net income (loss)	$	1,948		$	(241	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		3,407			4,020
Lease amortization		480			509
Deferred revenue		269			58
Provision for expected credit losses		70			37
Foreign exchange gain		(1	)		(11	)
Interest accretion		107			168
Stock-based compensation expense (benefit)		108			(708	)
Changes in operating assets and liabilities:
Accounts receivable		(1,183	)		(111	)
Contract asset		(105	)		(361	)
Inventory		(35	)		(15	)
Other assets		(908	)		–
Accounts payable and other liabilities		956			721
Net cash provided by operating activities		5,113			4,066
INVESTING ACTIVITIES:
Purchases of property and equipment		(624	)		(298	)
Capitalized software and other intangible assets		(846	)		(1,570	)
Initial payment for acquisition		(40	)		–
Net cash used in investing activities		(1,510	)		(1,868	)
FINANCING ACTIVITIES:
Preferred stock dividends paid		(1,730	)		–
Settlement of tax withholding obligations on stock issued to employees		(21	)		(151	)
Repayments of notes payable		(181	)		(223	)
Repayment of line of credit		–			(1,000	)
Net cash used in financing activities		(1,932	)		(1,374	)
EFFECT OF EXCHANGE RATE CHANGES ON CASH		(11	)		(17	)
NET INCREASE IN CASH		1,660			807
CASH – Beginning of the period		5,145			3,331
CASH – End of the period	$	6,805		$	4,138
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES:
Conversion of preferred stock and accrued dividends to common stock	$	2,435		$	–
Dividends declared, not paid	$	1,299		$	5
Purchase of prepaid insurance with assumption of note	$	–		$	96
Reclass of deposits for property and equipment placed in service	$	–		$	296
SUPPLEMENTAL INFORMATION – Cash paid during the period for:
Income taxes	$	15		$	6
Interest	$	18		$	295

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO COMPARABLE GAAP MEASURES

The following is a reconciliation of the non-GAAP financial measures used by us to describe our financial results determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”). An explanation of these measures is also included below under the heading “Explanation of Non-GAAP Financial Measures.”

While management believes that these non-GAAP financial measures provide useful supplemental information to investors regarding the underlying performance of our business operations, investors are reminded to consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures prepared in accordance with GAAP. In addition, it should be noted that these non-GAAP financial measures may be different from non-GAAP measures used by other companies, and management may utilize other measures to illustrate performance in the future. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP.

Adjusted EBITDA to GAAP Net Income (Loss)

Set forth below is a reconciliation of our “adjusted EBITDA” to our GAAP net income (loss).

	Three Months Ended March 31,
	2025		2024
	($ in thousands)
Net revenue	$	27,632	$	25,962

GAAP net income (loss)		1,948		(241	)

Provision for income taxes		41		39
Net interest expense		16		338
Foreign exchange loss (gain) / other expense		19		(5	)
Stock-based compensation expense (benefit)		108		(708	)
Depreciation and amortization		3,337		3,930
Transaction and integration costs		12		12
Restructuring costs		114		322
Adjusted EBITDA	$	5,595	$	3,687

Non-GAAP Adjusted Operating Income to GAAP Operating Income

Set forth below is a reconciliation of our non-GAAP “adjusted operating income” and non-GAAP “adjusted operating margin” to our GAAP operating income and GAAP operating margin.

	Three Months Ended March 31,
	2025			2024
	($ in thousands)
Net revenue	$	27,632		$	25,962

GAAP net income (loss)		1,948			(241	)
Provision for income taxes		41			39
Net interest expense		16			338
Other expense (income) – net		14			(7	)
GAAP operating income		2,019			129
GAAP operating margin		7.3	%		0.5	%

Stock-based compensation expense (benefit)		108			(708	)
Amortization of purchased intangible assets		89			840
Transaction and integration costs		12			12
Restructuring costs		114			322
Non-GAAP adjusted operating income	$	2,342		$	595
Non-GAAP adjusted operating margin		8.5	%		2.3	%

Non-GAAP Adjusted Net Income to GAAP Net Income (Loss)

Set forth below is a reconciliation of our non-GAAP “adjusted net income” and non-GAAP “adjusted net income per share” to our GAAP net income (loss) and GAAP net loss per share.

	Three Months Ended March 31,
	2025		2024
	($ in thousands)
GAAP net income (loss)	$	1,948	$	(241	)

Foreign exchange loss (gain) / other expense		19		(5	)
Stock-based compensation expense (benefit)		108		(708	)
Amortization of purchased intangible assets		89		840
Transaction and integration costs		12		12
Restructuring costs		114		322
Non-GAAP adjusted net income	$	2,290	$	220

End-of-period common shares		42,321,129		16,118,492

Non-GAAP adjusted net income per share	$	0.05	$	0.01

For purposes of determining non-GAAP adjusted net income per share, we used the number of common shares outstanding as of March 31, 2025 and 2024.

	Three Months Ended March 31,
	2025			2024
GAAP net loss attributable to common shareholders, per share	$	(0.04	)	$	(0.10	)
Impact of preferred stock dividend		0.09			0.08
Net income (loss) per end-of-period share		0.05			(0.02	)

Foreign exchange loss (gain) / other expense		0.00			0.00
Stock-based compensation expense (benefit)		0.00			(0.04	)
Amortization of purchased intangible assets		0.00			0.05
Transaction and integration costs		0.00			0.00
Restructuring costs		0.00			0.02
Non-GAAP adjusted earnings per share	$	0.05		$	0.01

Net cash provided by operating activities to free cash flow

Set forth below is a reconciliation of our non-GAAP “free cash flow” to our GAAP net cash provided by operating activities.

	Three Months Ended March 31,
	2025			2024
	($ in thousands)
Net cash provided by operating activities	$	5,113		$	4,066

Purchases of property and equipment		(624	)		(298	)
Capitalized software and other intangible assets		(846	)		(1,570	)
Free cash flow	$	3,643		$	2,198

Net cash used in investing activities ¹	$	(1,510	)	$	(1,868	)
Net cash used in financing activities	$	(1,932	)	$	(1,374	)

¹ Net cash used in investing activities includes purchases of property and equipment and capitalized software and other intangible assets, which are also included in our computation of free cash flow.

Explanation of Non-GAAP Financial Measures

We report our financial results in accordance with accounting principles generally accepted in the United States of America, or GAAP. However, management believes that, in order to properly understand our short-term and long-term financial and operational trends, investors may wish to consider the impact of certain non-cash or non-recurring items, when used as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that vary in frequency and impact on continuing operations. Management also uses results of operations before such items to evaluate the operating performance of CareCloud and compare it against past periods, make operating decisions, and serve as a basis for strategic planning. These non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in our ongoing business by eliminating certain non-cash expenses and other items that management believes might otherwise make comparisons of our ongoing business with prior periods more difficult, obscure trends in ongoing operations, or reduce management’s ability to make useful forecasts. Management believes that these non-GAAP financial measures provide additional means of evaluating period-over-period operating performance. In addition, management understands that some investors and financial analysts find this information helpful in analyzing our financial and operational performance and comparing this performance to our peers and competitors.

Management uses adjusted EBITDA, adjusted operating income, adjusted operating margin, and non-GAAP adjusted net income to provide an understanding of aspects of operating results before the impact of investing and financing charges and income taxes. Adjusted EBITDA may be useful to an investor in evaluating our operating performance and liquidity because this measure excludes non-cash expenses as well as expenses pertaining to investing or financing transactions. Management defines “adjusted EBITDA” as the sum of GAAP net income (loss) before provision for income taxes, net interest expense, foreign exchange loss (gain) / other expense, stock-based compensation expense (benefit), depreciation and amortization, transaction and integration costs, and restructuring costs.

Management defines “non-GAAP adjusted operating income” as the sum of GAAP operating income before stock-based compensation expense (benefit), amortization of purchased intangible assets, transaction and integration costs, and restructuring costs, and “non-GAAP adjusted operating margin” as non-GAAP adjusted operating income divided by net revenue.

Management defines “non-GAAP adjusted net income” as the sum of GAAP net income (loss) before foreign exchange loss (gain) / other expense, stock-based compensation expense (benefit), amortization of purchased intangible assets, transaction and integration costs, and restructuring costs, and “non-GAAP adjusted net income per share” as non-GAAP adjusted net income divided by common shares outstanding at the end of the period.

Management defines “free cash flow” as the sum of net cash provided by operating activities less cash used for purchases of property and equipment and cash used to develop capitalized software and other intangible assets.

Management considers all of these non-GAAP financial measures to be important indicators of our operational strength and performance of our business and a good measure of our historical operating trends, in particular the extent to which ongoing operations impact our overall financial performance.

In addition to items routinely excluded from non-GAAP EBITDA, management excludes or adjusts each of the items identified below from the applicable non-GAAP financial measure referenced above for the reasons set forth with respect to that excluded item:

Foreign exchange loss (gain) / other expense. Other expense is excluded because foreign currency gains and losses and other non-operating expenses are expenditures that management does not consider part of ongoing operating results when assessing the performance of our business, and also because the total amount of the expense is partially outside of our control. Foreign currency gains and losses are based on global market factors which are unrelated to our performance during the period in which the gains and losses are recorded.

Stock-based compensation expense (benefit). Stock-based compensation expense (benefit) is excluded because this is primarily a non-cash expenditure that management does not consider part of ongoing operating results when assessing the performance of our business, and also because the total amount of the expenditure is partially outside of our control because it is based on factors such as stock price, volatility, and interest rates, which may be unrelated to our performance during the period in which the expenses are incurred. Stock-based compensation expense includes cash-settled awards based on changes in the stock price.

Amortization of purchased intangible assets. Purchased intangible assets are amortized over their estimated useful lives and generally cannot be changed or influenced by management after the acquisition. Accordingly, this item is not considered by management in making operating decisions. Management does not believe such charges accurately reflect the performance of our ongoing operations for the period in which such charges are recorded.

Transaction costs. Transaction costs are upfront costs related to acquisitions and related transactions, such as brokerage fees, pre-acquisition accounting costs and legal fees, and other upfront costs related to specific transactions. Management believes that such expenses do not have a direct correlation to future business operations, and therefore, these costs are not considered by management in making operating decisions. Management does not believe such charges accurately reflect the performance of our ongoing operations for the period in which such charges are incurred.

Integration costs. Integration costs are severance payments for certain employees relating to our acquisitions and exit costs related to terminating leases and other contractual agreements. Accordingly, management believes that such expenses do not have a direct correlation to future business operations, and therefore, these costs are not considered by management in making operating decisions. Management does not believe such charges accurately reflect the performance of our ongoing operations for the period in which such charges are incurred.

Restructuring costs. Restructuring costs primarily consist of severance and separation costs associated with the optimization of the Company’s operations and profitability improvements. Management believes that such expenses do not have a direct correlation to future business operations, and therefore, these costs are not considered by management in making operating decisions. Management does not believe such charges accurately reflect the performance of our ongoing operations for the period in which such charges are incurred.

Free cash flow. Management believes that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use in evaluating the Company’s financial performance. Free cash flow should be considered in addition to, rather than as a substitute for, consolidated net operating results as a measure of our performance and net cash provided by operating activities as a measure of our liquidity. Additionally, the Company’s definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures, due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, we believe it is important to view free cash flow as a measure that provides supplemental information to our condensed consolidated statements of cash flows.

The MIL Network –

May 6, 2025

MIL-OSI: FAVO Capital Secures $8 Million Series A Preferred Investment from Stewards Investment Capital

Source: GlobeNewswire (MIL-OSI)

FORT LAUDERDALE, Fla., May 06, 2025 (GLOBE NEWSWIRE) — via IBN — FAVO Capital, Inc. (OTC: FAVO), a rapidly growing private credit platform focused on revenue-based funding for small and medium-sized businesses (SMBs), today announced that it has secured an $8 million Series A Preferred equity investment from Stewards Investment Capital, a global asset manager with deep expertise in fintech and private credit.

Vincent Napolitano, CEO of FAVO Capital said, “Stewards has been a trusted partner, and this funding further positions us to serve the capital needs of underserved SMBs with speed, flexibility, and transparency.”

“This investment reflects institutional confidence in our platform’s scalability and disciplined strategy,” said Shaun Quin, President of FAVO Capital.

This investment will accelerate direct SMB funding, restructure a portion of our debt notes and expand embedded lending partnerships, all while reinforcing FAVO’s balance sheet and supporting its ongoing growth initiatives as it advances toward a Nasdaq uplisting.

Glen Steward, Founder and Chairman of Stewards Investment Capital added, “The growth trajectory of FAVO from our original investment has been nothing but positive and rewarding. Our continued support and investment from our international network has been a testament to the Award Winning bespoke investment products that we have been able to create around FAVO.”

The securities offered will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirement.

About FAVO Capital, Inc.

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

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

Investor Alerts

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

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, projections, estimates, and expectations regarding future trends, financial performance, and operational strategies. Forward-looking statements are often identified by words such as “expects,” “anticipates,” “intends,” “believes,” “plans,” “seeks,” “estimates,” “may,” “will,” “should,” or similar expressions.

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

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

Company Contact:

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

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

The MIL Network –

May 6, 2025
MIL-OSI: Strategic Venue Partners Expands C-Suite with Industry Veteran David Tokunaga as COO

Source: GlobeNewswire (MIL-OSI)

GREENWICH, Conn., May 06, 2025 (GLOBE NEWSWIRE) — Strategic Venue Partners (SVP), the leading provider of in-building wireless-connectivity-as-a-service, proudly announces the appointment of David Tokunaga, a seasoned wireless industry executive, as its new Chief Operating Officer. With a career spanning more than 25 years across some of the most influential names in telecommunications, Tokunaga will play a pivotal role in driving the company’s mission to transform venues with fast, reliable, and future-ready wireless network solutions. This strategic leadership appointment follows several key financial milestones for SVP, with Tokunaga’s operational prowess poised to drive further growth and meet the rising enterprise demand for in-building wireless solutions.

Tokunaga most recently served as General Manager of Boingo Wireless. In this role, he led sales, marketing, engineering, and operations for the enterprise segment. He also guided strategy, partnerships, and engineering initiatives. Previously, David also held senior roles at Qualcomm, leading global account teams and driving growth across emerging wireless technologies. Tokunaga also spent more than seven years at Nokia, overseeing product strategy during a pivotal phase in the company’s evolution.

“We’re thrilled to welcome David to the SVP leadership team,” said Justin Marron, CEO of SVP. “He brings a wealth of experience across enterprise sales, engineering, operations, and large-scale business leadership at some of the most respected companies in the wireless industry. His unique blend of strategic vision and hands-on execution has consistently delivered impactful, scalable solutions. David’s leadership arrives at a pivotal moment for SVP, as we continue to accelerate growth and meet rising demand for our essential infrastructure assets.”

“I’ve spent much of my career helping enterprises navigate the ever-changing wireless landscape—and I firmly believe that SVP’s approach is one of the most innovative and sustainable models I’ve ever seen,” said David Tokunaga, SVP’s new Chief Operating Officer. “By turning wireless connectivity into a managed service, SVP not only removes the financial and technological burden from its customers but also empowers them to grow and innovate faster utilizing SVP’s state-of-the-art wireless systems. I’m excited to join this incredible team and help continue to bring this vision to life at scale.”

“The addition of David marks another major step forward for SVP. Since inception, SVP has been focused on the growing need for long-term solutions that thousands of venues face regarding their mission-critical connectivity challenges. Justin and his co-founder, Chad Aaron, have assembled an elite team of knowledgeable and passionate professionals to provide bespoke solutions to each of SVP’s customers,” said Marc H. Blair, COO and Senior Managing Director at Tiger Infrastructure Partners, the majority shareholder in SVP. “While the existing team has created a highly efficient and scalable business, the addition of David to the “C suite” adds decades of valuable experience and will expand SVP’s strategic and operational capabilities.”

SVP’s infrastructure solutions are designed for each individual customer’s particular end use. SVP’s solutions can apply on a nearly universal basis and its customers operate in a wide variety of sectors, including healthcare, hospitality, information services and technology, higher education and retail. SVP’s long-term assets provide services essential to (i) the customer and employee experiences, (ii) optimization of business and enterprise operating systems and applications, (iii) timely dissemination of information and (iv) emergency communications.

David is set to join the team in Chicago next week during Connect (X), the premier communications infrastructure industry event proudly sponsored by SVP. He will represent SVP on an informative panel entitled, It’s Time to Radically Re-Think In-Building Wireless on Tuesday, May 13^th at 3:00 pm in Room W183B.

About SVP
Strategic Venue Partners (SVP) is the leading provider of in-building wireless connectivity-as-a-service. SVP partners directly with venues and carriers to design, develop, install, own, operate, and future-proof wireless infrastructure using solutions such as Distributed Antenna Systems, CBRS (OnGo^®), Private LTE, Public Safety Systems, Wi-Fi, IPTV, RTLS, and fiber assets. SVP’s utility-style model enables enterprise clients to access cutting-edge wireless technology without the capital burden, backed by a long-term partner who grows with their business. Learn more at www.strategicvenue.com.

About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. Visit www.tigerinfrastructure.com.

Media Contact
Megan Wesley, VP, Marketing
info@strategicvenue.com

The MIL Network –

May 6, 2025

MIL-OSI: Cipher Mining Provides First Quarter 2025 Business Update

Source: GlobeNewswire (MIL-OSI)

First Quarter 2025 Revenue of $49m, up 16% quarter over quarter

Signed term sheet with Fortress Credit Advisors to serve as the JV financing partner at Barber Lake

Nearing completion of 150 MW Phase I infrastructure at Black Pearl

First Quarter 2025 GAAP Net Loss of $39m, and Non-GAAP Adjusted Earnings of $6m

NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Cipher Mining Inc. (NASDAQ: CIFR) (“Cipher” or the “Company”) today announced its first quarter 2025 financial results, with an update on its operations and business strategy.

“The first quarter was marked by disciplined execution and steady progress as we advanced our 2025 expansion plans,” said Tyler Page, CEO. “Notably, we’re thrilled to have partnered with Fortress, a best-in-class financing partner, to develop a next-generation data center at Barber Lake. Fortress will not only bring extensive experience in data center development, but also a strong network of relationships with hyperscalers that complements our active discussions.”

Over the quarter, Cipher also made substantial progress on expanding its mining footprint, with rig deployment at Black Pearl anticipated ahead of schedule.

Mr. Page added, “We are nearing completion of the Black Pearl Data Center’s Phase I core and shell, and all four substation transformers are now onsite. Given the accelerated progress and expected energization in May, we’ve decided to immediately deploy rigs from inventory at the newly constructed site while we await the arrival of new machines expected later this summer. This strategic decision will bring approximately 2.5 exahashes per second online one quarter earlier than anticipated through the efficient use of idle assets at no additional capital expenditure to the company.”

This redeployment will bring Cipher to ~16.0 EH/s by the end of the second quarter, with expectations to scale to ~23.1 EH/s by the end of the third quarter, as the Company continues to monitor the tariff landscape and new rig delivery schedules come into focus.

“Cipher’s strong treasury management, disciplined approach to growth, and site flexibility continue to give me confidence in our ability to navigate a dynamic market environment and drive long-term success,” said Mr. Page.

Finance and Operations Highlights

Completed first full quarter of operations with the upgraded Odessa fleet, which increased Cipher’s total self-mining hashrate to ~13.5 EH/s
Signed term sheet with Fortress Credit Advisors LLC to serve as the JV financing partner at Barber Lake
Infrastructure at Black Pearl Phase I nearing completion, with energization expected ahead of schedule
Continued HPC tenant momentum at Barber Lake site with multiple tenants under NDA and performing due diligence
Pipeline of 2.8 GW of site capacity
Q1 2025 net loss of $39 million, or $0.11 per diluted share, and adjusted earnings of $6 million, or $0.02 per diluted share

Business Update Call and Webcast

The live webcast and a webcast replay of the conference call can be accessed from the investor relations section of Cipher’s website at https://investors.ciphermining.com/. To access this conference call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

About Cipher

Cipher is focused on the development and operation of industrial-scale data centers for bitcoin mining and HPC hosting. Cipher aims to be a market leader in innovation, including in bitcoin mining growth, data center construction and as a hosting partner to the world’s largest HPC companies. To learn more about Cipher, please visit https://www.ciphermining.com/.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws of the United States. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release that are not statements of historical fact, such as, statements about the Company’s beliefs and expectations regarding its future results of operations and financial position, its planned business model and strategy, its bitcoin mining and HPC data center development, timing and likelihood of success, capacity, functionality and timing of operation of data centers, expectations regarding the operations of data centers, potential strategic initiatives, such as joint ventures and partnerships, and management plans and objectives, are forward-looking statements and should be evaluated as such. These forward-looking statements generally are identified by the words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “seeks,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “strategy,” “future,” “forecasts,” “opportunity,” “predicts,” “potential,” “would,” “will likely result,” “continue,” and similar expressions (including the negative versions of such words or expressions).

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, Cipher’s evolving business model and strategy and efforts it may make to modify aspects of its business model or engage in various strategic initiatives, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Cipher’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”) on February 25, 2025, and in Cipher’s subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Website Disclosure

The company maintains a dedicated investor website at https://investors.ciphermining.com/investors (“Investors’ Website”). Financial and other important information regarding the Company is routinely posted on and accessible through the Investors Website. Cipher uses its Investors’ Website as a distribution channel of material information about the Company, including through press releases, investor presentations, reports and notices of upcoming events. Cipher intends to utilize its Investors’ Website as a channel of distribution to reach public investors and as a means of disclosing material non-public information for complying with disclosure obligations under Regulation FD. In addition, you may sign up to automatically receive email alerts and other information about the Company by visiting the “Email Alerts” option under the Investors Resources section of Cipher’s Investors’ Website and submitting your email address.

Non-GAAP Financial Measures

This press release includes supplemental financial measures for Adjusted Earnings (Loss) and Adjusted Earnings (Loss) per share – diluted, in each case that exclude the impact of (i) the non-cash change in fair value of derivative asset, (ii) share-based compensation expense, (iii) depreciation and amortization, (iv) deferred income tax expense, (v) nonrecurring gains and losses and (vi) the non-cash change in fair value of warrant liability. These supplemental financial measures are not measurements of financial performance under accounting principles generally accepted in the United Stated (“GAAP”) and, as a result, these supplemental financial measures may not be comparable to similarly titled measures of other companies. Management uses these non-GAAP financial measures internally to help understand, manage, and evaluate our business performance and to help make operating decisions. We believe the use of these non-GAAP financial measures can also facilitate comparison of our operating results to those of our competitors by excluding certain items that vary in our industry based on company policy.

Non-GAAP financial measures are subject to material limitations as they are not in accordance with, or a substitute for, measurements prepared in accordance with GAAP. For example, we expect that share-based compensation expense, which is excluded from the non-GAAP financial measure, will continue to be a significant recurring expense over the coming years and is an important part of the compensation provided to certain employees, officers and directors. Similarly, we expect that depreciation and amortization will continue to be a recurring expense over the term of the useful life of the related assets. Our non-GAAP financial measures are not meant to be considered in isolation and should be read only in conjunction with our condensed consolidated financial statements included elsewhere in this press release, which have been prepared in accordance with GAAP. We rely primarily on such condensed consolidated financial statements to understand, manage and evaluate our business performance and use the non-GAAP financial measures only supplementally.

Contacts:
Investor Contact:
Courtney Knight
Head of Investor Relations at Cipher Mining
Courtney.knight@ciphermining.com

Media Contact:
Ryan Dicovitsky / Kendal Till
Dukas Linden Public Relations
CipherMining@DLPR.com

CIPHER MINING INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except for share and per share amounts) (unaudited)
	March 31, 2025			December 31, 2024
ASSETS
Current assets
Cash and cash equivalents	$	23,173		$	5,585
Accounts receivable		758			596
Receivables, related party		300			2,090
Prepaid expenses and other current assets		2,970			3,387
Bitcoin		52,024			92,651
Receivable for bitcoin collateral		32,497			32,248
Derivative asset		42,835			31,648
Total current assets		154,557			168,205
Restricted cash		14,392			14,392
Property and equipment, net		477,972			480,865
Deposits on equipment		122,502			38,872
Intangible assets, net		9,043			8,881
Investment in equity investees		48,499			53,908
Derivative asset		50,165			54,022
Operating lease right-of-use asset		12,192			12,561
Security deposits		19,776			19,782
Other noncurrent assets		4,694			3,958
Total assets	$	913,792		$	855,446
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	29,879		$	22,699
Accrued expenses and other current liabilities		66,300			69,824
Finance lease liability, current portion		3,903			3,798
Operating lease liability, current portion		3,200			3,127
Short-term borrowings		35,459			32,330
Total current liabilities		138,741			131,778
Asset retirement obligations		20,801			20,282
Finance lease liability		6,315			7,331
Operating lease liability		9,506			9,833
Deferred tax liability		3,634			4,269
Total liabilities		178,997			173,493
Commitments and contingencies (Note 13)
Stockholders’ equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized, none issued and outstanding as of March 31, 2025, and December 31, 2024		–			–
Common stock, $0.001 par value, 500,000,000 shares authorized, 371,313,598 and 361,432,449 shares issued as of March 31, 2025 and December 31, 2024, respectively, and 370,857,699 and 350,783,817 shares outstanding as of March 31, 2025, and December 31, 2024, respectively		371			361
Additional paid-in capital		954,812			863,015
Accumulated deficit		(220,387	)		(181,412	)
Treasury stock, at par, 455,899 and 10,648,632 shares at March 31, 2025 and December 31, 2024, respectively		(1	)		(11	)
Total stockholders’ equity		734,795			681,953
Total liabilities and stockholders’ equity	$	913,792		$	855,446

CIPHER MINING INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except for share and per share amounts) (unaudited)
	Three Months Ended March 31,
		2025			2024
Revenue – bitcoin mining	$	48,959		$	48,137
Costs and operating (expenses) income
Cost of revenue		(14,894	)		(14,820	)
Compensation and benefits		(14,303	)		(13,036	)
General and administrative		(8,951	)		(6,077	)
Depreciation and amortization		(43,467	)		(17,244	)
Change in fair value of derivative asset		7,330			7,359
Power sales		991			1,173
Equity in income (losses) of equity investees		(5,292	)		738
Unrealized (losses) gains on fair value of bitcoin		(20,178	)		40,556
Realized gains on sale of bitcoin		12,196			–
Other gains		(479	)		–
Total costs and operating expenses		(87,047	)		(1,351	)
Operating (loss) income		(38,088	)		46,786
Other income (expense)
Interest income		190			786
Interest expense		(777	)		(400	)
Change in fair value of warrant liability		–			250
Other expense		(156	)		(1,958	)
Total other expense		(743	)		(1,322	)
(Loss) income before taxes		(38,831	)		45,464
Current income tax expense		(779	)		(386	)
Deferred income tax benefit (expense)		635			(5,178	)
Total income tax expense		(144	)		(5,564	)
Net (loss) income	$	(38,975	)	$	39,900
(Loss) income per share – basic and diluted	$	(0.11	)	$	0.13
Weighted average shares outstanding – basic		360,514,620			296,641,499
Weighted average shares outstanding – diluted		360,514,620			304,397,979

Non-GAAP Financial Measures

The following are reconciliations of our Adjusted Earnings (Loss) and Adjusted Earnings (Loss) per share – diluted, in each case excluding the impact of (i) the non-cash change in fair value of derivative asset, (ii) share-based compensation expense, (iii) depreciation and amortization, (iv) deferred income tax expense, (v) nonrecurring gains and losses and (vi) the non-cash change in fair value of warrant liability, to the most directly comparable GAAP measures for the periods indicated (in thousands, except for per share amounts):

	Three Months Ended March 31,
		2025			2024
Reconciliation of Adjusted Earnings:
Net (loss) income	$	(38,975	)	$	39,900
Change in fair value of derivative asset		(7,330	)		(7,359	)
Share-based compensation expense		9,132			8,317
Depreciation and amortization		43,467			17,244
Deferred income tax (benefit) expense		(635	)		5,178
Other losses – nonrecurring		479			–
Change in fair value of warrant liability		–			(250	)
Adjusted (loss) earnings	$	6,138		$	63,030


	Three Months Ended March 31,
		2025			2024
Reconciliation of Adjusted Earnings per share – diluted:
Net (loss) income per share – diluted	$	(0.11	)	$	0.13
Change in fair value of derivative asset per diluted share		(0.02	)		(0.03	)
Share-based compensation expense per diluted share		0.03			0.03
Depreciation and amortization per diluted share		0.12			0.06
Deferred income tax (benefit) expense per diluted share		—			0.02
Other losses – nonrecurring per diluted share		—			—
Change in fair value of warrant liability per diluted share		—			—
Adjusted (loss) earnings per diluted share	$	0.02		$	0.21

The MIL Network –

May 6, 2025

MIL-OSI: Datadog Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

First quarter revenue grew 25% year-over-year to $762 million

Robust growth of larger customers, with about 3,770 $100k+ ARR customers, up from about 3,340 a year ago

Announced 2025 DASH user conference, June 10-11, in New York City

NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Datadog, Inc. (NASDAQ:DDOG), the monitoring and security platform for cloud applications, today announced financial results for its first quarter ended March 31, 2025.

“Datadog executed solidly in the first quarter, with 25% year-over-year revenue growth, $272 million in operating cash flow, and $244 million in free cash flow,” said Olivier Pomel, co-founder and CEO of Datadog.

Pomel added, “We are innovating rapidly across the Datadog platform, to help customers observe, secure, and act to solve mission-critical business problems in their modern, cloud environments.”

First Quarter 2025 Financial Highlights:

Revenue was $762 million, an increase of 25% year-over-year.
GAAP operating loss was $(12) million; GAAP operating margin was (2)%.
Non-GAAP operating income was $167 million; non-GAAP operating margin was 22%.
GAAP net income per diluted share was $0.07; non-GAAP net income per diluted share was $0.46.
Operating cash flow was $272 million, with free cash flow of $244 million.
Cash, cash equivalents, and marketable securities were $4.4 billion as of March 31, 2025.

First Quarter & Recent Business Highlights:

As of March 31, 2025, we had about 3,770 customers with ARR of $100,000 or more, an increase of 13% from about 3,340 as of March 31, 2024.
Acquired Eppo, a feature flagging and experimentation platform, which will tightly integrate with Datadog’s existing Product Analytics suite.
Released the new report, State of DevSecOps 2025, which found that only a fraction of critical vulnerabilities are truly worth prioritizing.
Acquired Metaplane, an end-to-end data observability platform that provides advanced machine learning-powered monitoring and column-level lineage to prevent, detect and resolve data quality issues across a company’s entire data stack.
Named a Leader in The Forrester Wave™: AIOps Platforms, Q2 2025. Datadog’s AIOps solutions include Bits AI, Watchdog and Event Management.
Highlighted multiple recent product launches at Google Cloud Next, including expanded monitoring capabilities for BigQuery.
Announced plans for a new data center to be located in Australia. The data center instance will be Datadog’s first in Australia and adds to existing locations in North America, Asia, and Europe.
Opened registration for DASH, Datadog’s eighth annual global conference for CIOs, CISOs, developers, SREs, and security and operations professionals, to build and scale the next generation of applications, infrastructure, security, GenAI and teams. The conference will take place June 10-11, 2025 at North Javits Center in New York City.

Second Quarter and Full Year 2025 Outlook:

Based on information as of today, May 6, 2025, Datadog is providing the following guidance:

Second Quarter 2025 Outlook:
- Revenue between $787 million and $791 million.
- Non-GAAP operating income between $148 million and $152 million.
- Non-GAAP net income per share between $0.40 and $0.42, assuming approximately 361 million weighted average diluted shares outstanding.
Full Year 2025 Outlook:
- Revenue between $3.215 billion and $3.235 billion.
- Non-GAAP operating income between $625 million and $645 million.
- Non-GAAP net income per share between $1.67 and $1.71, assuming approximately 362 million weighted average diluted shares outstanding.

Datadog has not reconciled its expectations as to non-GAAP operating income, or as to non-GAAP net income per share, to their most directly comparable GAAP measure as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation and employer payroll taxes on equity incentive plans. Accordingly, reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to Datadog’s results computed in accordance with GAAP.

Conference Call Details:

What: Datadog financial results for the first quarter of 2025 and outlook for the second quarter and the full year 2025
When: May 6, 2025 at 8:00 A.M. Eastern Time (5:00 A.M. Pacific Time)
Dial in: To access the call in the U.S., please register here. Callers are encouraged to dial into the call 10 to 15 minutes prior to the start to prevent any delay in joining.
Webcast: https://investors.datadoghq.com (live and replay)
Replay: A replay of the call will be archived on the investor relations website

About Datadog

Datadog is the observability and security platform for cloud applications. Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, user experience monitoring, cloud security and many other capabilities to provide unified, real-time observability and security for our customers’ entire technology stack. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior, and track key business metrics.

Forward-Looking Statements

This press release and the earnings call referencing this press release contain “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Datadog’s strategy, product and platform capabilities, the growth in and ability to capitalize on long-term market opportunities including the pace and scope of cloud migration and digital transformation, gross margins and operating margins including with respect to third-party cloud infrastructure hosting costs, sales and marketing, research and development expenses, net interest and other income, cash taxes, investments and capital expenditures, and Datadog’s future financial performance, including its outlook for the second quarter and the full year 2025 and related notes and assumptions. These forward-looking statements are based on Datadog’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Datadog’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement.

The risks and uncertainties referred to above include, but are not limited to (1) our recent rapid growth may not be indicative of our future growth; (2) our history of operating losses; (3) our limited operating history; (4) our dependence on existing customers purchasing additional subscriptions and products from us and renewing their subscriptions; (5) our ability to attract new customers; (6) our ability to effectively develop and expand our sales and marketing capabilities; (7) risk of a security breach; (8) risk of interruptions or performance problems associated with our products and platform capabilities; (9) our ability to adapt and respond to rapidly changing technology or customer needs; (10) the competitive markets in which we participate; (11) risks associated with successfully managing our growth; and (12) general market, political, economic, and business conditions including concerns about trade policies, tariffs, reduced economic growth and associated decreases in information technology spending. These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 20, 2025. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other filings and reports that we may file from time to time with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements.

About Non-GAAP Financial Measures

Datadog discloses the following non-GAAP financial measures in this release and the earnings call referencing this press release: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (research and development, sales and marketing and general and administrative), non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, non-GAAP net income (loss) per basic share, free cash flow and free cash flow margin. Datadog uses each of these non-GAAP financial measures internally to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short- and long-term operating plans, and to evaluate Datadog’s financial performance. Datadog believes they are useful to investors, as a supplement to GAAP measures, in evaluating its operational performance, as further discussed below. Datadog’s non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring and unusual items. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Datadog’s reported financial results.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.

Datadog defines non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (research and development, sales and marketing and general and administrative), non-GAAP operating income (loss), non-GAAP operating margin and non-GAAP net income (loss) as the respective GAAP balances, adjusted for, as applicable: (1) stock-based compensation expense; (2) the amortization of acquired intangibles; (3) employer payroll taxes on employee stock transactions; (4) amortization of issuance costs; and (5) an assumed provision for income taxes based on our long-term projected tax rate. Our estimated long-term projected tax rate is subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in Datadog’s geographic earnings mix, or other changes to our strategy or business operations. We will re-evaluate our long-term projected tax rate as appropriate. Datadog defines free cash flow as net cash provided by operating activities, minus capital expenditures and minus capitalized software development costs, if any. Investors are encouraged to review the reconciliation of these historical non-GAAP financial measures to their most directly comparable GAAP financial measures.

Management believes these non-GAAP financial measures are useful to investors and others in assessing Datadog’s operating performance due to the following factors:

Stock-based compensation. Datadog utilizes stock-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, stock-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period.

Amortization of acquired intangibles. Datadog views amortization of acquired intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of acquired intangibles is an expense that is not typically affected by operations during any particular period.

Employer payroll taxes on employee stock transactions. Datadog excludes employer payroll tax expense on equity incentive plans as these expenses are tied to the exercise or vesting of underlying equity awards and the price of Datadog’s common stock at the time of vesting or exercise. As a result, these taxes may vary in any particular period independent of the financial and operating performance of Datadog’s business.

Amortization of issuance costs. In June 2020 and December 2024, Datadog issued $747.5 million of 0.125% convertible senior notes due 2025 and $1.0 billion of 0% convertible senior notes due 2029, respectively. Debt issuance costs, which reduce the carrying value of the convertible debt instrument, are amortized as interest expense over the term. The expense for the amortization of debt issuance costs is a non-cash item, and we believe the exclusion of this interest expense will provide for a more useful comparison of our operational performance in different periods.

Additionally, Datadog’s management believes that the non-GAAP financial measure free cash flow is meaningful to investors because it is a measure of liquidity that provides useful information in understanding and evaluating the strength of our liquidity and future ability to generate cash that can be used for strategic opportunities or investing in our business. Free cash flow represents net cash provided by operating activities, reduced by capital expenditures and capitalized software development costs, if any. The reduction of capital expenditures and amounts capitalized for software development facilitates comparisons of Datadog’s liquidity on a period-to-period basis and excludes items that management does not consider to be indicative of our liquidity.

Operating Metrics

Datadog’s number of customers with ARR of $100,000 or more is based on the ARR of each customer, as of the last month of the quarter.

We define the number of customers as the number of accounts with a unique account identifier for which we have an active subscription in the period indicated. Users of our free trials or tier are not included in our customer count. A single organization with multiple divisions, segments or subsidiaries is generally counted as a single customer. However, in some cases where they have separate billing terms, we may count separate divisions, segments or subsidiaries as multiple customers.

We define ARR as the annualized revenue run-rate of subscription agreements from all customers at a point in time. We calculate ARR by taking the monthly recurring revenue, or MRR, and multiplying it by 12. MRR for each month is calculated by aggregating, for all customers during that month, monthly revenue from committed contractual amounts, additional usage, usage from subscriptions for a committed contractual amount of usage that is delivered as used, and monthly subscriptions. ARR and MRR should be viewed independently of revenue, and do not represent our revenue under GAAP on a monthly or annualized basis, as they are operating metrics that can be impacted by contract start and end dates and renewal rates. ARR and MRR are not intended to be replacements or forecasts of revenue.


Datadog, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share data; unaudited)

	Three Months Ended March 31,
		2025			2024
Revenue	$	761,553		$	611,253
Cost of revenue ^(1)(2)(3)		157,628			110,098
Gross profit		603,925			501,155
Operating expenses:
Research and development ⁽¹⁾⁽³⁾		341,061			269,988
Sales and marketing ^(1)(2)(3)		214,291			173,881
General and administrative ⁽¹⁾⁽³⁾		60,993			45,290
Total operating expenses		616,345			489,159
Operating (loss) income		(12,420	)		11,996
Other income:
Interest expense ⁽⁴⁾		(2,963	)		(1,374	)
Interest income and other income, net		47,179			35,563
Other income, net		44,216			34,189
Income before provision for income taxes		31,796			46,185
Provision for income taxes		7,154			3,554
Net income	$	24,642		$	42,631
Net income per share – basic	$	0.07		$	0.13
Net income per share – diluted	$	0.07		$	0.12
Weighted average shares used in calculating net income per share:
Basic		343,097			331,806
Diluted		363,078			355,979

(1) Includes stock-based compensation expense as follows:
Cost of revenue	$	6,651	$	5,527
Research and development		105,735		88,413
Sales and marketing		34,125		28,531
General and administrative		17,754		12,562
Total	$	164,265	$	135,033

(2) Includes amortization of acquired intangibles as follows:
Cost of revenue	$	894	$	2,027
Sales and marketing		203		205
Total	$	1,097	$	2,232

(3) Includes employer payroll taxes on employee stock transactions as follows:
Cost of revenue	$	186	$	192
Research and development		9,582		10,819
Sales and marketing		1,570		2,153
General and administrative		2,225		2,057
Total	$	13,563	$	15,221

(4) Includes amortization of issuance costs as follows:
Interest expense	$	1,819	$	850
Total	$	1,819	$	850

Datadog, Inc.
Condensed Consolidated Balance Sheets
(In thousands; unaudited)

	March 31, 2025		December 31, 2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,079,854	$	1,246,983
Marketable securities		3,369,820		2,942,076
Accounts receivable, net of allowance for credit losses of $17,707 and $16,302 as of March 31, 2025 and December 31, 2024, respectively		490,172		598,919
Deferred contract costs, current		58,832		56,095
Prepaid expenses and other current assets		77,660		67,042
Total current assets		5,076,338		4,911,115
Property and equipment, net		249,916		226,970
Operating lease assets		203,074		172,512
Goodwill		361,738		360,381
Intangible assets, net		2,626		3,711
Deferred contract costs, non-current		90,501		86,573
Other assets		26,188		24,077
TOTAL ASSETS	$	6,010,381	$	5,785,339
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	98,442	$	107,731
Accrued expenses and other current liabilities		138,238		127,136
Operating lease liabilities, current		34,228		31,970
Convertible senior notes, net, current		634,780		634,023
Deferred revenue, current		949,135		961,853
Total current liabilities		1,854,823		1,862,713
Operating lease liabilities, non-current		227,974		196,905
Convertible senior notes, net, non-current		980,314		979,282
Deferred revenue, non-current		21,560		22,693
Other liabilities		9,036		9,383
Total liabilities		3,093,707		3,070,976
STOCKHOLDERS’ EQUITY:
Common stock		3		3
Additional paid-in capital		2,860,643		2,689,013
Accumulated other comprehensive income (loss)		1,338		(4,701	)
Retained earnings		54,690		30,048
Total stockholders’ equity		2,916,674		2,714,363
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	6,010,381	$	5,785,339

Datadog, Inc.
Condensed Consolidated Statements of Cash Flow
(In thousands; unaudited)

	Three Months Ended March 31,
		2025			2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	24,642		$	42,631
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		11,255			12,895
Accretion of discounts on marketable securities		(10,370	)		(14,126	)
Amortization of issuance costs		1,819			850
Amortization of deferred contract costs		14,853			11,844
Stock-based compensation, net of amounts capitalized		164,265			135,033
Non-cash lease expense		8,389			6,810
Allowance for credit losses on accounts receivable		4,520			2,732
(Gain) loss on disposal of property and equipment		(145	)		43
Changes in operating assets and liabilities:
Accounts receivable, net		104,227			55,490
Deferred contract costs		(21,519	)		(12,636	)
Prepaid expenses and other current assets		(10,263	)		(14,075	)
Other assets		(1,217	)		2,614
Accounts payable		(10,712	)		(17,122	)
Accrued expenses and other liabilities		5,648			(7,433	)
Deferred revenue		(13,851	)		6,720
Net cash provided by operating activities		271,541			212,270
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of marketable securities		(970,302	)		(637,351	)
Maturities of marketable securities		555,938			401,666
Proceeds from sale of marketable securities		(76	)		—
Purchases of property and equipment		(8,748	)		(14,158	)
Capitalized software development costs		(18,402	)		(11,365	)
Cash paid for acquisition of businesses; net of cash acquired		(1,818	)		—
Net cash used in investing activities		(443,408	)		(261,208	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options		1,673			2,191
Repayments of 2025 Convertible Senior Notes		(20	)		—
Net cash provided by financing activities		1,653			2,191

Effect of exchange rate changes on cash and cash equivalents		3,085			(1,374	)

NET DECREASE IN CASH AND CASH EQUIVALENTS		(167,129	)		(48,121	)
CASH AND CASH EQUIVALENTS—Beginning of period		1,246,983			330,339
CASH AND CASH EQUIVALENTS—End of period	$	1,079,854		$	282,218

Datadog, Inc.
Reconciliation from GAAP to Non-GAAP Results
(In thousands, except per share data; unaudited)

	Three Months Ended March 31,
		2025			2024
Reconciliation of gross profit and gross margin
GAAP gross profit	$	603,925		$	501,155
Plus: Stock-based compensation expense		6,651			5,527
Plus: Amortization of acquired intangibles		894			2,027
Plus: Employer payroll taxes on employee stock transactions		186			192
Non-GAAP gross profit	$	611,656		$	508,901
GAAP gross margin		79	%		82	%
Non-GAAP gross margin		80	%		83	%

Reconciliation of operating expenses
GAAP research and development	$	341,061		$	269,988
Less: Stock-based compensation expense		(105,735	)		(88,413	)
Less: Employer payroll taxes on employee stock transactions		(9,582	)		(10,819	)
Non-GAAP research and development	$	225,744		$	170,756

GAAP sales and marketing	$	214,291		$	173,881
Less: Stock-based compensation expense		(34,125	)		(28,531	)
Less: Amortization of acquired intangibles		(203	)		(205	)
Less: Employer payroll taxes on employee stock transactions		(1,570	)		(2,153	)
Non-GAAP sales and marketing	$	178,393		$	142,992

GAAP general and administrative	$	60,993		$	45,290
Less: Stock-based compensation expense		(17,754	)		(12,562	)
Less: Employer payroll taxes on employee stock transactions		(2,225	)		(2,057	)
Non-GAAP general and administrative	$	41,014		$	30,671

Reconciliation of operating (loss) income and operating margin
GAAP operating (loss) income	$	(12,420	)	$	11,996
Plus: Stock-based compensation expense		164,265			135,033
Plus: Amortization of acquired intangibles		1,097			2,232
Plus: Employer payroll taxes on employee stock transactions		13,563			15,221
Non-GAAP operating income	$	166,505		$	164,482
GAAP operating margin		(2	)%		2	%
Non-GAAP operating margin		22	%		27	%

Datadog, Inc.
Reconciliation from GAAP to Non-GAAP Results
(In thousands, except per share data; unaudited)

	Three Months Ended March 31,
		2025		2024
Reconciliation of net income (loss)
GAAP net income (loss)	$	24,642	$	42,631
Plus: Stock-based compensation expense		164,265		135,033
Plus: Amortization of acquired intangibles		1,097		2,232
Plus: Employer payroll taxes on employee stock transactions		13,563		15,221
Plus: Amortization of issuance costs		1,819		850
Non-GAAP net income before non-GAAP tax adjustments	$	205,386	$	195,967
Income tax effects and adjustments ⁽¹⁾		37,479		38,345
Non-GAAP net income after non-GAAP tax adjustments	$	167,907	$	157,622
Net income per share before non-GAAP tax adjustments – basic	$	0.60	$	0.59
Net income per share before non-GAAP tax adjustments – diluted	$	0.57	$	0.55

Net income per share after non-GAAP tax adjustments – basic	$	0.49	$	0.48
Net income per share after non-GAAP tax adjustments – diluted	$	0.46	$	0.44

Shares used in non-GAAP net income per share calculations:
Basic		343,097		331,806
Diluted		363,078		355,979
___________________
1) Non-GAAP financial information for the periods shown are adjusted for an assumed provision for income taxes based on our long-term projected tax rate of 21%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.

Datadog, Inc.
Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow
(In thousands; unaudited)

	Three Months Ended March 31,
		2025			2024
Net cash provided by operating activities	$	271,541		$	212,270
Less: Purchases of property and equipment		(8,748	)		(14,158	)
Less: Capitalized software development costs		(18,402	)		(11,365	)
Free cash flow	$	244,391		$	186,747
Free cash flow margin		32	%		31	%

Contact Information
Yuka Broderick
Datadog Investor Relations
IR@datadoghq.com

Dan Haggerty
Datadog Public Relations
Press@datadoghq.com

Datadog is a registered trademark of Datadog, Inc.
All product and company names herein may be trademarks of their registered owners.

The MIL Network –

May 6, 2025

MIL-OSI: Lantronix to Participate in the 22nd Annual Craig-Hallum Institutional Investor Conference on May 28, 2025

Source: GlobeNewswire (MIL-OSI)

IRVINE, Calif., May 06, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling Edge AI Intelligence, today announced that Lantronix CEO Saleel Awsare and CFO Brent Stringham will participate in one-on-one meetings with investors at the 22^nd Annual Craig-Hallum Institutional Investor Conference to be held on May 28, 2025, at the Depot Renaissance Hotel in Minneapolis.

Interested investors should contact Lantronix CFO Brent Stringham at investors@lantronix.com to inquire about availability for a one-on-one meeting.

About Lantronix

Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix products or leadership team. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties about which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com

Lantronix Analyst and Investor Contact:
investors@lantronix.com

©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

The MIL Network –

May 6, 2025
MIL-OSI: CECO Environmental Announces Upcoming Investor Conferences
Source: GlobeNewswire (MIL-OSI)

ADDISON, Texas, May 06, 2025 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment and industrial equipment, today announces that CECO management will participate at the following investor conferences:
- May 13, 2025 – The ONE Houlihan Lokey Global Industrials Conference
- May 28, 2025 – The 22^nd Annual Craig-Hallum Institutional Investor Conference in Minneapolis.
- June 10, 2025 – The Wells Fargo 2025 Industrials Conference in Chicago (To be confirmed)
- June 12, 2025 – The 15^th Annual East Coast IDEAS Conference in New York.
- June 25, 2025 – The Northland Growth Virtual Conference
- June 24-26, 2025 – The 15^th Annual ROTH London Conference
The presentations will be available on the Investor Relations section of the Company’s website www.cecoenviro.com.

ABOUT CECO ENVIRONMENTAL
CECO Environmental is a leading environmentally focused, diversified industrial company, serving a broad landscape of industrial air, industrial water, and energy transition markets globally through its key business segments: Engineered Systems and Industrial Process Solutions. Providing innovative technology and application expertise, CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. In regions around the world, CECO works to improve air quality, optimize the energy value chain, and provide custom solutions for applications in power generation, petrochemical processing, refining, midstream gas transport and treatment, electric vehicle and battery production, metals and mineral processing, polysilicon production, battery recycling, beverage can production, and produced and oily water/wastewater treatment along with a wide range of other industrial applications. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com.

Company Contact:
Peter Johansson
Chief Financial and Strategy Officer
888-990-6670

Investor Relations Contact:
Steven Hooser and Jean Marie Young
Three Part Advisors
214-872-2710
Investor.Relations@OneCECO.com

The MIL Network –
May 6, 2025

MIL-OSI: Willis Lease Finance Corporation Reports First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Delivers Pre-Tax Income of $25.3 Million and Record Quarterly Revenue of $157.7 Million

Declares Second Quarter 2025 Dividend of $0.25 Per Share

COCONUT CREEK, Fla., May 06, 2025 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, today announced its financial results for the first quarter ended March 31, 2025. The Company also announced a quarterly dividend of $0.25 per share, payable on May 22, 2025, to shareholders of record as of the close of business on May 12, 2025.

First Quarter 2025 Highlights (All metrics compared to first quarter 2024, except where noted)

Total, record, quarterly revenues of $157.7 million, an increase of 32.5%
Solid quarterly pre-tax income of $25.3 million
Lease rent revenue of $67.7 million, an increase of 28.1%
Maintenance reserve revenue of $54.9 million, an increase of 25.0%
Spare parts and equipment sales of $18.2 million, compared to $3.3 million
Portfolio utilization increased to 86.4% at quarter end, compared to 76.7% at year end 2024

For the three months ended March 31, 2025, total revenue was $157.7 million, up 32.5% as compared to $119.1 million for the same period in 2024. For the first quarter of 2025, core lease rent and maintenance reserve revenues were $122.6 million in the aggregate, up 27% as compared to $96.8 million for the same period in 2024. The growth was predominantly driven by core, recurring lease and maintenance revenues associated with the continued strength of the aviation marketplace, as airlines leverage the Company’s leasing, parts and maintenance capabilities to avoid protracted, expensive engine shop visits.

“WLFC’s strong first quarter 2025 financial results reflect the strength in our business model, which enables us to provide advanced and efficient solutions to airlines,” said Austin C. Willis, Chief Executive Officer of WLFC. “While concerns over tariffs have created market volatility, we remain confident in the drivers of our business. The cost of new engines continues to drive operators towards leasing, and our maintenance capabilities and programs provide value and certainty for cost conscious airlines.”

First Quarter 2025 Operating Results

Maintenance reserve revenue for the quarter ended March 31, 2025, was $54.9 million, compared to $43.9 million for the quarter ended March 31, 2024, reflecting the increased size of the Company’s lease portfolio and leases on short-term lease conditions.

Engines on lease with “non-reimbursable” usage fees generated $45.3 million of short-term maintenance revenues for the quarter ended March 31, 2025, compared to $37.6 million for the quarter ended March 31, 2024.

During the first quarter of 2025, the Company recognized $9.6 million of long-term maintenance revenue, compared to $6.3 million for the quarter ended March 31, 2024. Long-term maintenance revenue is recognized at the end of a lease period as the related maintenance reserve liability is released from the balance sheet.

Spare parts and equipment sales increased to $18.2 million for the quarter ended March 31, 2025, compared to $3.3 million for the quarter ended March 31, 2024. The year-over-year increase in spare parts sales reflects the heightened demand for surplus material as operators extend the lives of their current generation engine portfolios. The increase was influenced by a discrete $7.0 million sale. Equipment sales for the three months ended March 31, 2025, were $2.2 million for the sale of one engine. There were no equipment sales for the three months ended March 31, 2024.

For the quarter ended March 31, 2025, the gain on sale of leased equipment was $4.4 million, reflecting the sale of seven engines, one airframe, and other parts and equipment from the lease portfolio. During the three months ended March 31, 2024, the Company sold eight engines and other parts and equipment for a net gain of $9.2 million.

General and administrative expenses were influenced by an $11.4 million increase in consultant-related fees predominantly related to the Company’s sustainable aviation fuel project. As the project is in its early design stage, we have expensed the related costs, which is in line with accounting principles generally accepted in the United States (“GAAP”).

The book value of lease assets owned either directly or through WLFC’s joint ventures, inclusive of the Company’s equipment held for operating lease, maintenance rights, notes receivable, and investments in sales-type leases was $3,219.9 million as of March 31, 2025.

Balance Sheet

As of March 31, 2025, the Company’s lease portfolio was $2,819.5 million, consisting of $2,597.8 million of equipment held in its operating lease portfolio, $179.3 million of notes receivable, $25.2 million of maintenance rights, and $17.3 million of investments in sales-type leases, which represented 347 engines, 15 aircraft, one marine vessel and other leased parts and equipment. As of December 31, 2024, the Company’s lease portfolio was $2,872.3 million, consisting of $2,635.9 million of equipment held in its operating lease portfolio, $183.6 million of notes receivable, $31.1 million of maintenance rights, and $21.6 million of investments in sales-type leases, which represented 354 engines, 16 aircraft, one marine vessel and other leased parts and equipment.

Conference Call

WLFC will hold a conference call today at 10:00 a.m. Eastern Daylight Time to discuss its first quarter 2025 results. To participate in the conference call or webcast, please use the following dial-in numbers or visit the webcast link.

U.S. and Canada: +1 (800) 289-0459
International: +1 (646) 828-8082
Conference ID: 578662
https://event.webcasts.com/starthere.jsp?ei=1716437&tp_key=f56060bee8

A replay of the conference call will be available two hours after the completion of the conference call. To access the replay, please visit our website at www.wlfc.global under the Investor Relations section for details.

About Willis Lease Finance Corporation

Willis Lease Finance Corporation leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Additionally, through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.

Forward-Looking Statements

Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Any forward-looking statement made by the Company is based only on information currently available to the Company and speaks only as of the date on which it is made. We undertake no obligation to update them, except as may be required by law. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and pandemics; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing reports filed with the Securities and Exchange Commission.


Contact:	Scott B. Flaherty
	Executive Vice President & Chief Financial Officer
	561.413.0112

Unaudited Condensed Consolidated Statements of Income
(In thousands, except per share data)

	Three months ended March 31,
		2025		2024	% Change
REVENUE
Lease rent revenue	$	67,739	$	52,881		28.1	%
Maintenance reserve revenue		54,859		43,870		25.0	%
Spare parts and equipment sales		18,240		3,288		454.7	%
Interest revenue		3,934		2,269		73.4	%
Gain on sale of leased equipment		4,437		9,201		(51.8)	%
Gain on sale of financial assets		378		—	nm
Maintenance services revenue		5,586		5,227		6.9	%
Other revenue		2,559		2,347		9.0	%
Total revenue		157,732		119,083		32.5	%

EXPENSES
Depreciation and amortization expense		25,024		22,486		11.3	%
Cost of spare parts and equipment sales		15,323		2,705		466.5	%
Cost of maintenance services		5,329		5,574		(4.4)	%
Write-down of equipment		2,109		261		708.0	%
General and administrative		47,720		29,581		61.3	%
Technical expense		6,230		8,255		(24.5)	%
Net finance costs:
Interest expense		32,094		23,003		39.5	%
Total net finance costs		32,094		23,003		39.5	%
Total expenses		133,829		91,865		45.7	%

Income from operations		23,903		27,218		(12.2)	%
Income from joint ventures		1,351		2,674		(49.5)	%
Income before income taxes		25,254		29,892		(15.5)	%
Income tax expense		8,385		9,023		(7.1)	%
Net income		16,869		20,869		(19.2)	%
Preferred stock dividends		1,323		900		47.0	%
Accretion of preferred stock issuance costs		70		12		483.3	%
Net income attributable to common shareholders	$	15,476	$	19,957		(22.5)	%

Basic weighted average income per common share	$	2.34	$	3.12
Diluted weighted average income per common share	$	2.21	$	3.00

Basic weighted average common shares outstanding		6,606		6,387
Diluted weighted average common shares outstanding		7,000		6,659

Unaudited Condensed Consolidated Balance Sheets
(In thousands, except per share data)

	March 31, 2025		December 31, 2024
ASSETS
Cash and cash equivalents	$	32,356	$	9,110
Restricted cash		116,737		123,392
Equipment held for operating lease, less accumulated depreciation		2,597,792		2,635,910
Maintenance rights		25,167		31,134
Equipment held for sale		19,125		12,269
Receivables, net		41,504		38,291
Spare parts inventory		67,318		72,150
Investments		65,210		62,670
Property, equipment & furnishings, less accumulated depreciation		54,342		48,061
Intangible assets, net		1,601		2,929
Notes receivable, net		179,283		183,629
Investments in sales-type leases, net		17,271		21,606
Other assets		56,927		56,045
Total assets	$	3,274,633	$	3,297,196

LIABILITIES, REDEEMABLE PREFERRED STOCK AND SHAREHOLDERS’ EQUITY
Liabilities:
Accounts payable and accrued expenses	$	56,855	$	75,983
Deferred income taxes		191,297		185,049
Debt obligations		2,231,593		2,264,552
Maintenance reserves		104,452		97,817
Security deposits		24,090		23,424
Unearned revenue		37,666		37,911
Total liabilities		2,645,953		2,684,736

Redeemable preferred stock ($0.01 par value)		63,192		63,122

Shareholders’ equity:
Common stock ($0.01 par value)		74		72
Paid-in capital in excess of par		57,967		50,928
Retained earnings		505,083		491,439
Accumulated other comprehensive income, net of tax		2,364		6,899
Total shareholders’ equity		565,488		549,338
Total liabilities, redeemable preferred stock and shareholders’ equity	$	3,274,633	$	3,297,196

The MIL Network –

May 6, 2025

MIL-OSI: ARRAY Technologies, Inc. Reports Financial Results for the First Quarter 2025

Source: GlobeNewswire (MIL-OSI)

2025 First Quarter Highlights

Revenue of $302.4 million
Gross Margin of 25.3%
Adjusted gross margin⁽¹⁾ of 26.5%
Net income to common shareholders of $2.3 million
Adjusted EBITDA⁽¹⁾ of $40.6 million
Net income per basic and diluted share of $0.02
Adjusted net income per diluted share⁽¹⁾ of $0.13
Total executed contracts and awarded orders at March 31, 2025 were $2.0 billion
Successfully amended and extended our Revolving Credit Facility⁽²⁾

ALBUQUERQUE, N.M., May 06, 2025 (GLOBE NEWSWIRE) — ARRAY Technologies, Inc. (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology products, systems and services, today announced financial results for its first quarter ended March 31, 2025.

“ARRAY is off to a great start for 2025 with first quarter high double digits revenue growth compared with the first quarter of 2024, and achieving the second largest quarter of volume shipped since 2023, indicating solid market share recovery and the strength of our execution capabilities. We are now able to provide customers with quotes for our 100% domestic content trackers under Table I of the Inflation Reduction Act (“IRA”), an important milestone for ARRAY, reflecting our continued commitment to supply chain resilience and ability to minimize effects of geopolitical uncertainty, including tariffs. With electricity demand increasing and utility-scale solar being the lowest cost and fastest-growing energy source, domestic customers are expressing greater interest in Volume Commitment Agreements, and we are well positioned to help our customers deploy projects quickly and efficiently. We have a strong orderbook with 18% sequential growth in contracting for the quarter, gaining meaningful traction with Independent Power Producers across Europe, the Middle East and Asia, where we are seeing strong contracting momentum,” said Chief Executive Officer, Kevin G. Hostetler.

Mr. Hostetler continued, “Amidst global economic uncertainty related to tariffs, and potential changes to the IRA, we are confident in our ability to navigate changes in the utility-scale solar landscape. As we look forward to building on a strong first quarter, we have flexibility with the strength of our available liquidity, no near-term refinancing requirements, robust operational capabilities and an agile team. We maintain our full year 2025 guidance and remain focused on long-term value creation, deepening customer partnerships, and demonstrating consistent product leadership.”

Full Year 2025 Guidance

For the year ending December 31, 2025, the Company maintains guidance:

Revenue to be in the range of $1.05 billion to $1.15 billion
Adjusted EBITDA⁽³⁾⁽⁴⁾ to be in the range of $180 million to $200 million
Adjusted net income per share⁽³⁾⁽⁴⁾ to be in the range of $0.60 to $0.70

⁽¹⁾ A reconciliation of the most comparable GAAP measure to its Non-GAAP measure is included below.

⁽²⁾ Matures October 2028 or July 2027 if Term Loan under the Credit Agreement remains outstanding as of July 2027.

⁽³⁾ Guidance includes benefits related to the Inflation Reduction Act Section 45X Advanced Manufacturing Production Credit for torque tube and structural fastener manufacturing.

⁽⁴⁾ A reconciliation of projected Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA and Adjusted net income per share, which are forward-looking measures that are not prepared in accordance with GAAP, to the most directly comparable GAAP financial measures, is not provided because we are unable to provide such reconciliation without unreasonable effort. The inability to provide a quantitative reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the components of the applicable GAAP measures and non-GAAP adjustments may be recognized. The GAAP measures may include the impact of such items as non-cash share-based compensation, revaluation of the fair-value of our contingent consideration, and the tax effect of such items, in addition to other items we have historically excluded from Adjusted EBITDA and Adjusted net income per share. We expect to continue to exclude these items in future disclosures of these non-GAAP measures and may also exclude other similar items that may arise in the future (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments are inherently unpredictable as to if or when they may occur. As such, for our 2025 guidance, we have not included estimates for these items and are unable to address the probable significance of the unavailable information, which could be material to future results.

Supplemental Presentation and Conference Call Information

ARRAY has posted a supplemental presentation to its website, which will be discussed during the conference call hosted by management today (May 6, 2025) at 8:00 a.m. (ET). The conference call can be accessed live over the phone by dialing (877)869-3847 (domestic) or (201)689-8261 (international) and entering the passcode 13752974, or via webcast of the live conference call by logging onto the Investor Relations section of the Company’s website at http://ir.arraytechinc.com. A telephonic replay will be available approximately three hours after the call by dialing (877)660-6853 (domestic), or (201)612-7415 (international), with the passcode 13752974. The replay will be available until 11:59 p.m. (ET) on May 20, 2025. The online replay will be available for 30 days on the same website, immediately following the call.

About ARRAY Technologies, Inc.

ARRAY Technologies, Inc. (NASDAQ: ARRY) is a leading global provider of solar tracking technology to utility-scale and distributed generation customers, who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY’s high-quality solar trackers, software platforms and field services combine to maximize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology – relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.

Investor Relations Contact:

H. Keith Jennings
505-437-0010
investors@arraytechinc.com

Media Contact:

Nicole Stewart
505-589-8257

Forward-Looking Statements

This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing and investment plans, competitive position, industry and regulatory environment, including potential regulatory reform related to energy credits, uncertainty relating the implementation of tariffs and changes in trade policy, ability to provide 100% domestic content trackers, expectations regarding the macroeconomic environment and geopolitical developments, including the effects of tariffs, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” “designed to” or similar expressions and the negatives of those terms.

Array’s actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of certain risks, uncertainties and other factors, including without limitation: changes in the cost and availability of raw materials as a result of tariffs and other geopolitical uncertainty, changes in growth or rate of growth in demand for solar energy projects; competitive pressures within our industry; factors affecting viability and demand for solar energy, including but not limited to, the retail price of electricity, availability of in-demand components like high voltage breakers, various policies related to the permitting and interconnection costs of solar plants, and the availability of incentives for solar energy and solar energy production systems, which makes it difficult to predict our future prospects; competition from conventional and renewable energy sources; a loss of one or more of our significant customers, their inability to perform under their contracts, or their default in payment; a drop in the price of electricity derived from the utility grid or from alternative energy sources; fluctuations in our results of operations across fiscal periods, which could make our future performance difficult to predict and could cause our results of operations for a particular period to fall below expectations; any increase in interest rates, or a reduction in the availability of tax equity or project debt capital in the global financial markets, which could make it difficult for customers to finance the cost of a solar energy system; existing electric utility industry policies and regulations, and any subsequent changes or new related policies and regulations, may present technical, regulatory and economic barriers to the purchase and use of solar energy systems, which may significantly reduce demand for our products or harm our ability to compete; the interruption of the flow of materials from international vendors, which could disrupt our supply chain, including as a result of the imposition of new and/or additional duties, tariffs and other charges or restrictions on imports and exports; changes in the global trade environment, including the imposition of import tariffs or other import restrictions; geopolitical, macroeconomic and other market conditions unrelated to our operating performance including but not limited interest rates; our ability to convert our orders in backlog into revenue; the reduction, elimination or expiration, or our failure to optimize the benefits of government incentives for, or regulations mandating the use of, renewable energy and solar energy, particularly in relation to our competitors; failure to, or incurrence of significant costs in order to, obtain, maintain, protect, defend or enforce, our intellectual property and other proprietary right; delays in construction projects and any failure to manage our inventory; significant changes in the cost of raw materials; disruptions to transportation and logistics, including increases in shipping costs; defects or performance problems in our products, which could result in loss of customers, reputational damage and decreased revenue; delays, disruptions or quality control problems in our product development operations; our ability to retain our key personnel or failure to attract additional qualified personnel; additional business, financial, regulatory and competitive risks due to our continued planned expansion into new markets; cybersecurity or other data incidents, including unauthorized disclosure of personal or sensitive data or theft of confidential information; a failure to maintain an effective system of integrated internal controls over financial reporting; our substantial indebtedness, risks related to actual or threatened public health epidemics, pandemics, outbreaks or crises; changes to laws and regulations, including changes to tax laws and regulations, that are applied adversely to us or our customers, including our ability to optimize those changes brought about by the passage of the IRA or any repeal thereof; and the other risks and uncertainties described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC, each of which can be found on our website, www.arraytechinc.com.

Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this report. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Non-GAAP Financial Information

This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA, Adjusted net income, Adjusted net income per share, Adjusted general and administrative expense and Free cash flow.

We define Adjusted gross profit as gross profit plus (i) amortization of developed technology and (ii) other costs if applicable. We define Adjusted gross margin as Adjusted gross profit as a percentage of revenue. We define Adjusted EBITDA as net income (loss) to common shareholders plus (i) other expense, net, (ii) foreign currency (gain) loss, net, (iii) preferred dividends and accretion, (iv) interest expense, (v) income tax expense (benefit), (vi) depreciation expense, (vii) amortization of intangibles, (viii) amortization of developed technology, (ix) equity-based compensation, (x) change in fair value of contingent consideration, (xi) certain legal expenses, and (xii) other costs. We define Adjusted net income as net income (loss) to common shareholders plus (i) amortization of intangibles, (ii) amortization of developed technology, (iii) amortization of debt discount and issuance costs (iv) Series A preferred stock accretion, (v) equity-based compensation, (vi) change in fair value of contingent consideration, (vii) certain legal expenses, (viii) other costs, and (ix) income tax (benefit) expense adjustments. We define Adjusted general and administrative expense as general and administrative expense less (i) equity based compensation, (ii) certain legal expenses, and (iii) other costs. We define Free cash flow as Cash provided by (used in) operating activities less purchase of property, plant and equipment.

A detailed reconciliation between GAAP results and results excluding special items (“non-GAAP”) is included within this press release. We calculate net income (loss) per share as net income (loss) to common shareholders divided by the basic and diluted weighted average number of shares outstanding for the applicable period and we define Adjusted net income per share as Adjusted net income (as detailed above) divided by the basic and diluted weighted average number of shares outstanding for the applicable period.

We believe that these non-GAAP financial measures are provided to enhance the reader’s understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing the Company’s performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP and may be different from similarly titled non-GAAP measures used by other companies.

Among other limitations, Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA and Adjusted net income do not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; do not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of our ongoing operations; do not reflect income tax expense or benefit; and other companies in our industry may calculate Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA and Adjusted net income differently than we do, which limits their usefulness as comparative measures. Because of these limitations, Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA and Adjusted net income should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP.

We compensate for these limitations by relying primarily on our GAAP results and using Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA and Adjusted net income on a supplemental basis.

You should review the reconciliation of gross profit to Adjusted gross profit and net income (loss) to Adjusted EBITDA and Adjusted net income below and not rely on any single financial measure to evaluate our business.

Array Technologies, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except per share and share amounts)

	March 31, 2025			December 31, 2024
ASSETS
Current assets
Cash and cash equivalents	$	348,324		$	362,992
Restricted cash		1,169			1,149
Accounts receivable, net of allowance of $6,601 and $4,848, respectively		282,575			275,838
Inventories, net		186,875			200,818
Prepaid expenses and other		157,348			157,927
Total current assets		976,291			998,724

Property, plant and equipment, net		28,740			26,222
Goodwill		164,221			160,189
Other intangible assets, net		176,347			181,409
Deferred income tax assets		16,049			17,754
Other assets		64,110			41,701
Total assets	$	1,425,758		$	1,425,999

LIABILITIES, REDEEMABLE PERPETUAL PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	153,781		$	172,368
Accrued expenses and other		77,576			91,183
Accrued warranty reserve		2,045			2,063
Income tax payable		8,734			5,227
Deferred revenue		120,225			119,775
Current portion of contingent consideration		2,528			1,193
Current portion of debt		34,472			30,714
Other current liabilities		9,132			15,291
Total current liabilities		408,493			437,814

Deferred income tax liabilities		21,634			21,398
Contingent consideration, net of current portion		5,179			7,868
Other long-term liabilities		17,311			18,684
Long-term warranty		5,021			4,830
Long-term debt, net of current portion		644,520			646,570
Total liabilities		1,102,158			1,137,164

Commitments and contingencies (Note 11)

Series A Redeemable Perpetual Preferred Stock of $0.001 par value; 500,000 authorized; 468,122 and 460,920 shares issued as of March 31, 2025 and December 31, 2024, respectively; liquidation preference of $493.1 million at both dates		421,374			406,931

Stockholders’ equity
Preferred stock of $0.001 par value – 4,500,000 shares authorized; none issued at respective dates		—			—
Common stock of $0.001 par value – 1,000,000,000 shares authorized; 152,512,805 and 151,951,652 shares issued at respective dates		151			151
Additional paid-in capital		286,079			297,780
Accumulated deficit		(353,878	)		(370,624	)
Accumulated other comprehensive income		(30,126	)		(45,403	)
Total stockholders’ equity		(97,774	)		(118,096	)
Total liabilities, redeemable perpetual preferred stock and stockholders’ equity	$	1,425,758		$	1,425,999

Array Technologies, Inc. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except per share amounts)

	Three Months Ended March 31,
		2025			2024
Revenue	$	302,363		$	153,403
Cost of revenue
Cost of product and service revenue		222,296			94,674
Amortization of developed technology		3,639			3,639
Total cost of revenue		225,935			98,313
Gross profit		76,428			55,090

Operating expenses
General and administrative		43,945			37,784
Change in fair value of contingent consideration		(150	)		(735	)
Depreciation and amortization		5,349			9,627
Total operating expenses		49,144			46,676

Income from operations		27,284			8,414

Other expense, net		23			814
Interest income		3,319			3,680
Foreign currency gain (loss), net		689			(499	)
Interest expense		(8,035	)		(8,940	)
Total other expense, net		(4,004	)		(4,945	)

Income before income tax expense		23,280			3,469
Income tax expense		6,534			1,304
Net income		16,746			2,165
Preferred dividends and accretion		14,443			13,502
Net income (loss) to common shareholders	$	2,303		$	(11,337	)

Income (loss) per common share
Basic	$	0.02		$	(0.07	)
Diluted	$	0.02		$	(0.07	)
Weighted average number of common shares outstanding
Basic		152,076			151,351
Diluted		152,783			151,351

Array Technologies, Inc. and Subsidiaries Consolidated Statements of Cash Flows (unaudited) (in thousands)

	Three Months Ended March 31,
		2025			2024
Operating activities
Net income	$	16,746		$	2,165
Adjustments to reconcile net income to cash provided by operating activities:
Provision for bad debts		1,671			896
Deferred tax expense (benefit)		1,024			(13	)
Depreciation and amortization		5,932			10,125
Amortization of developed technology		3,639			3,639
Amortization of debt discount and issuance costs		1,506			1,553
Equity-based compensation		2,798			3,926
Change in fair value of contingent consideration		(150	)		(735	)
Warranty provision		1,720			(1,138	)
Inventory reserve		839			600
Changes in working capital, net		(48,784	)		26,484
Net cash provided by (used in) operating activities		(13,059	)		47,502
Investing activities
Purchase of property, plant and equipment		(2,352	)		(2,396	)
Retirement/disposal of property, plant and equipment		—			10
Net cash used in investing activities		(2,352	)		(2,386	)
Financing activities
Proceeds from issuance of other debt		7,862			2,283
Principal payments on other debt		(7,294	)		(3,781	)
Principal payments on term loan facility		(1,075	)		(1,070	)
Contingent consideration payments		(1,204	)		(1,427	)
Other financing		(14	)		(580	)
Net cash used in financing activities		(1,725	)		(4,575	)
Effect of exchange rate changes on cash and cash equivalent balances		2,488			(2,001	)
Net change in cash and cash equivalents and restricted cash		(14,648	)		38,540
Cash and cash equivalents, and restricted cash beginning of period		364,141			249,080
Cash and cash equivalents and restricted cash, end of period	$	349,493		$	287,620

Array Technologies, Inc. Adjusted Gross Profit, Adjusted EBITDA, Adjusted Net Income, General and Administrative Expense and Free Cash Flow Reconciliation (unaudited) (in thousands, except per share amounts)
The following table reconciles Gross profit to Adjusted gross profit:
	Three Months Ended March 31,
	2025		2024
Revenue	302,363		153,403
Cost of revenue	225,935		98,313
Gross profit	76,428		55,090
Gross margin	25.3	%	35.9	%

Amortization of developed technology	3,639		3,639
Adjusted gross profit	80,067		58,729
Adjusted gross margin	26.5	%	38.3	%

The following table reconciles net income (loss) to Adjusted EBITDA:

	Three Months Ended March 31,
		2025			2024
Net income	$	16,746		$	2,165
Preferred dividends and accretion		14,443			13,502
Net income (loss) to common shareholders	$	2,303		$	(11,337	)
Other expense, net		(3,342	)		(4,494	)
Foreign currency gain (loss), net		(689	)		499
Preferred dividends and accretion		14,443			13,502
Interest expense		8,035			8,940
Income tax expense (benefit)		6,534			1,304
Depreciation expense		1,043			883
Amortization of intangibles		4,889			9,254
Amortization of developed technology		3,639			3,639
Equity-based compensation		2,798			4,020
Change in fair value of contingent consideration		(150	)		(735	)
Certain legal expenses^(a)		1,083			730
Other costs^(b)		—			42
Adjusted EBITDA	$	40,586		$	26,247

^(a) Represents certain legal fees and other related costs associated with (i) actions filed against the company and certain officers and directors alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, which litigation was dismissed with prejudice by the Court on May 19, 2023 and subsequently appealed. The appeal has been fully briefed, argued, and the Company is awaiting a decision, and (ii) legal and success fees related to a regional tax dispute for a period prior to the acquisition of STI, and (iii) other litigation and legal matters. We consider these costs not representative of legal costs that we will incur from time to time in the ordinary course of our business.

^(b) For the three months ended March 31, 2024, other costs represent costs related to Capped-Call treatment evaluation for prior year.

Array Technologies, Inc. Adjusted Gross Profit, Adjusted EBITDA, Adjusted Net Income, General and Administrative Expense and Free Cash Flow Reconciliation (unaudited) (in thousands, except per share amounts)
The following table reconciles net income (loss) to Adjusted net income:
	Three Months Ended March 31,
		2025			2024
Net income	$	16,746		$	2,165
Preferred dividends and accretion		14,443			13,502
Net income (loss) to common shareholders	$	2,303		$	(11,337	)
Amortization of Intangibles		4,889			9,254
Amortization of developed technology		3,639			3,639
Amortization of debt discount and issuance costs		1,393			1,552
Series A Pref stock accretion		7,241			6,665
Equity based compensation		2,798			4,020
Change in fair value of contingent consideration		(150	)		(735	)
Certain legal expenses ^(a)		1,083			730
Other costs^(b)		—			42
Income tax expense of adjustments^(c)		(3,474	)		(4,852	)
Adjusted net income	$	19,722		$	8,978

Income (loss) per common share
Basic	$	0.02		$	(0.07	)
Diluted	$	0.02		$	(0.07	)
Weighted average number of common shares outstanding
Basic		152,076			151,351
Diluted		152,783			151,351

Adjusted net income per common share
Basic	$	0.13		$	0.06
Diluted	$	0.13		$	0.06
Weighted average number of common shares outstanding
Basic		152,076			151,351
Diluted		152,783			152,243

^(b) For the three months ended March 31, 2024, other costs represent costs related to Capped-Call treatment evaluation for prior year.

^(c) Represents the estimated tax impact of all Adjusted Net Income add-backs, excluding those which represent permanent differences between book versus tax.

Array Technologies, Inc. Adjusted Gross Profit, Adjusted EBITDA, Adjusted Net Income, General and Administrative Expense and Free Cash Flow Reconciliation (unaudited) (in thousands, except per share amounts)
The following table reconciles General and administrative expense to Adjusted general and administrative expense:
	Three Months Ended March 31,
	2025		2024
General and administrative expense	43,945		37,784
Equity based compensation	(2,798	)	(4,020	)
Certain legal expenses^(a)	(1,083	)	(730	)
Other costs^(b)	—		(42	)
Adjusted general and administrative expense	40,064		32,992

^(b) For the three months ended March 31, 2024, other costs represent costs related to Capped-Call treatment evaluation for prior year.

The following table reconciles cash provided by (used in) operating activities to Free cash flow:

	Three Months Ended March 31,
	2025		2024
Net cash provided by (used in) operating activities	(13,059	)	47,502
Purchase of property, plant and equipment	(2,352	)	(2,396	)
Free cash flow	(15,411	)	45,106

The MIL Network –

May 6, 2025

MIL-OSI: Keiretsu Forum Mid-Atlantic and South-East Appoints Christian Haller as Regional Vice President, Signaling Strategic Leadership Expansion

Source: GlobeNewswire (MIL-OSI)

PHILADELPHIA, May 06, 2025 (GLOBE NEWSWIRE) — Keiretsu Forum Mid-Atlantic and South-East, a leading network for accredited angel investors and innovators, is proud to announce the appointment of Christian Haller as Regional Vice President. Haller’s role marks a step forward in the organization’s commitment to accelerating growth and supporting high-potential startups across these dynamic regions.

Christian Haller brings more than 35 years of entrepreneurial and investment expertise to Keiretsu Forum. He currently serves on the board of innovative, actively funding companies including Tympanogen, Accelera.US and ALM Orthopaedics, and founded LifeLine Medical, a pioneer in wearable health technology.

Haller’s extensive background includes founding The RavenOye Group, LLC, where he has supported seed and pre-seed medtech companies through commercialization and growth strategy. He is recognized for his leadership in entrepreneurial education, founding AdvaMed’s Entrepreneur’s Boot Camp and EBD’s Japan Medtech Partnering Forum, and is a frequent speaker on topics of innovation and product commercialization.

“Christian’s track record as a founder, investor, and board leader in promising life-science and tech startups will elevate our ability to source, vet and accelerate the deal flow that our members care about most. His strategic insight aligns perfectly with Keiretsu Forum’s mission and will be invaluable as we expand our support for entrepreneurs and investors in the Mid-Atlantic and South-East regions.” said Howard Lubert, Area President of Keiretsu Forum MST.

“I am honored to join Keiretsu Forum as Regional Vice President,” said Christian Haller. “I look forward to working with our exceptional members and partners to accelerate innovation, support promising startups, and create value for our investor community.”

This expansion of leadership underscores Keiretsu Forum’s dedication to building a robust ecosystem for entrepreneurs and investors, positioning the organization for continued growth and influence in the innovation economy.

About Keiretsu Forum

Founded in 2000, Keiretsu Forum is the world’s largest global investment community of accredited private-equity angel investors, venture capitalists and corporate/institutional backers. Through 54 chapters on four continents, our members have invested over $1 billion in more than 1,400 high-growth companies. For more information, visit www.keiretsuforum-midatlantic.com

Media Contact
Cindi Sutera
Keiretsu Forum MST, Communications
CindiS@AMSCommunications.net
610-613-2773

The MIL Network –

May 6, 2025

MIL-OSI: Enlight Renewable Energy Reports First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted

TEL AVIV, Israel, May 06, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the first quarter of 2025 ending March 31, 2025. Registration links for the Company’s earnings English and Hebrew conference call and webcasts can be found at the end of this earnings release.

Financial Highlights

3 months ending March 31, 2025

Revenues and income of $130m, up 39% year over year
Adjusted EBITDA¹ of $132m, up 84% year over year
Net income of $102m, up 316% year over year
Cash flow from operations of $44m, up 24% year over year

	For the three months ended
($ millions)	31/03/2025	31/03/2024	% change
Revenues and Income	130	94	39%
Net Income	102	24	316%
Adjusted EBITDA	132	72	84%
Cash Flow from Operating Activities	44	35	24%

________________________
_{¹ The Company is unable to provide a reconciliation of Adjusted EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2}

In January 2025, the Company announced the sale of 44% of the Sunlight cluster of renewable energy projects in Israel for a consideration of $52m at a valuation of $119m, and deconsolidated the cluster from its balance sheet. The transaction added $42m to Adjusted EBITDA (actual consideration received less the book value of the associated assets) and $80m to net profit in the 1Q25 results.
A detailed analysis of financial results appears below

Impact of U.S. Tariffs on the Company’s Operations

Enlight’s procurement strategy has effectively mitigated significant exposure to increased U.S. import tariffs. The agreements and good relationships we have with our supply chain partners allow for a significant distribution of the impact of tariffs.

Costs

Solar panels for projects under construction are either domestically constructed or sourced from outside China and carry no tariff exposure
80% of battery capacity for projects under construction is supplied by Tesla, a supplier with high levels of domestic U.S. manufacturing

Revenues

Negotiations for PPA price adjustments are now underway to account for higher tariff-related construction costs

“Enlight showed strong financial results for 1Q25, including 84% growth in Adjusted EBITDA and a 316% rise in net profit,” said Gilad Yavetz, CEO of Enlight Renewable Energy.

“The introduction of U.S. tariffs underscores how Enlight’s diversified procurement strategy in this market over the past two years has proven itself, effectively shielding us from cost increases. As a result, our U.S. projects now under construction, with total capex of $1.7bn, have no solar panel exposure under the current tariff policy. Selecting Tesla as our primary storage supplier further strengthens this position – its substantial levels of U.S. manufacturing offer greater tariff protection than other battery suppliers.

“Securing $1.8bn in financing over recent months marks a significant milestone, and was achieved through three financial closings, a sale of a stake in the Sunlight cluster to institutional investors, and a successful bond issuance. This funding will enable the launch of our aggressive plan to begin construction on 4.7 FGW of capacity in 2025. Combined with our existing operating portfolio, these projects represent 90% of the capacity required to reach an annual revenue and income run rate of $1.4bn by 2027.”

Portfolio Review

Enlight’s total portfolio is comprised of 19.2 GW of generation capacity and 49.8 GWh storage (33.4 FGW²)
Of this, the Mature portfolio component (including operating projects, projects under construction or pre-construction) contains 6.1 GW generation capacity and 8.8 GWh of storage (8.6 FGW)
Within the Mature portfolio component, the operating component has 2.5 GW of generation capacity and 1.9 GWh of storage (3.0 FGW)

The full composition of the portfolio appears in the following table:

Component	Status	FGW²		Annual revenues & income run rate ($m)
Operating	Commercial operation	3.0			~500³
Under Construction	Under construction	1.8			~305
Pre-Construction	0-12 months to start of construction	3.8			~615
Total Mature Portfolio	Mature	8.6	1,420~
Advanced Development	13-24 months to start of construction	7	–
Development	2+ years to start of construction	17.8	–
Total Portfolio		33.4	–

________________________
_{² FGW (Factored GW) is a consolidated metric combining generation and storage capacity into a uniform figure based on the ratio of construction costs. The company’s current weighted average construction cost ratio is 3.5 GWh of storage per 1 GW of generation: FGW = GW + GWh / 3.5}
_{³ Based on the midpoint of 2025 guidance.}

Operating component of the portfolio: 3 FGW
- The operational portfolio totals 3 GW of capacity is spread over three regions: 44% of the capacity is located in 7 European countries, 29% is located in Israel, and 27% in the U.S.
- 81% of the operational capacity sells electricity under PPA agreements, with 29% of the power sold under inflation-linked PPAs.
- The operational portfolio generates annualized revenues and income of approximately $500 million.
Under Construction component of the portfolio: 1.8 FGW
- Consists of three projects in the U.S. with a total capacity of 1.4 FGW; the Gecama Solar project in Spain with a capacity of 0.3 FGW; the solar and storage cluster in Israel; and the addition of storage capacity at project Bjornberget in Sweden. Approximately half of the cluster is expected to reach COD in 2025, with the rest expected to commission in 2026.
- Projects under construction are expected to contribute $305m to the annual revenues and income run rate during their first full year of operation
Pre-construction component of the portfolio: 3.8 FGW
- Two mega projects in the U.S., Snowflake and CO Bar, with a combined capacity of 2.6 FGW will begin construction in 2025 and are expected to contribute $455m to revenues and income on an annualized basis.
- Nardo, a stand alone storage project in Italy with a capacity of 0.25 FGW, is expected to begin construction in 2H25. The Pre-construction portion of the Mature portfolio includes additional projects in Israel, Hungary, and the US with a combined capacity of 0.9 FGW.
- Pre-construction projects are expected to contribute $615m in revenues and income in their first full year of operations.
  The under construction and pre-construction projects are expected to reach COD by the end of 2027, which is expected to boost operating capacity to 8.6 FGW and the annualized revenue and income run rate to $1.4bn.

Advanced Development component of the portfolio component: 7 FGW
- 5.7 FGW in the U.S., with 100% of the capacity having passed completion of the System Impact Study, the most important study of the grid connection process, significantly de-risking the portfolio.
- The U.S. pipeline includes several mega-projects, including the 1.4 FGW Cedar Island facility in Oregon and the 1.1 FGW Blackwater project in Virginia.
- The U.S. portfolio includes several follow-ons to Mature projects, such as Atrisco 2 (0.7 FGW), the energy storage expansion at CO-Bar (0.9 FGW), and Snowflake B (1.3 FGW).
- These projects reflect the Company’s “Connect and Expand” strategy, leveraging existing grid infrastructure with the development of new ones, thereby reducing construction costs and project risks while improving project returns.
- 0.7 FGW in Europe, focused on Italy, Spain, and Croatia.
- 0.6 FGW in MENA, focused on solar and storage projects and stand alone storage facilities, including approximately 0.4 FGW that won availability tariffs as part of the Israel Electricity Authority’s first high voltage storage availability tariff tender.
Development component of the portfolio: 17.8 FGW
- 12 FGW in the U.S. with broad geographic presence, including the PJM, WECC, SPP and MISO regions. The storage portion of the US portfolio has grown by 5.6 FGW to reflect greater demand for energy storage in this region.
- 3 FGW in Europe, focused on Italy, Spain, Croatia and entry into stand-alone storage operations in Poland.
- 2.8 FGW in MENA, focused on solar combined storage projects and stand-alone storage facilities.

Mature Portfolio Components Expected to Generate Annualized Revenues and Income of ~$1.4bn⁴^,⁵

________________________
_{⁴ Projection based on 2025 guidance, adding on total revenues and income (sales of electricity and tax benefits) of under construction and pre-construction projects}
_{⁵ The company’s revenues from tax benefits are estimated at approximately 20-24% of the total revenue run rate for December 2025; approximately 22-26% of the total revenue run rate for December 2026, and approximately 26-30% of the total revenue run rate for December 2027}

Financing Activities

During the quarter, the Company secured $1bn in financial closings for the Country Acres and Quail Ranch projects, representing 830 FMW of combined capacity.
Along with the financial close on the 560 FMW Roadrunner project in December 2024, the financing for the second wave of U.S. projects in now complete, with a total of $1.5bn raised.
Raising $245m through the sale of Series G and H bonds to finance the Company’s growth.
Sale of 44% of the Sunlight cluster for $52m cash at a valuation of $119m, generating Adjusted EBITDA of $42m (actual consideration received less associated book value of assets) and a pre-tax profit of $97m.
As of the balance sheet date, the Company maintained $350m of revolving credit facilities, of which none have been drawn.

2025 Guidance

Construction and commissioning

Expected commissioning of 0.9 FGW of capacity, which is expected to add approximately $148-152m to annualized revenues and income and $129-133m annualized EBITDA, starting in 2026.
Starting construction on 2.9 FGW of capacity, which is expected to add approximately $487-495m in annualized revenues and income and approximately $428-436m in annualized EBITDA gradually through 2026-2027.

Financial guidance

Total revenues and income⁶ for 2025 are expected to range between $490m and $510m. Of the projected revenues and income, 38% are expected to be denominated in ILS, 35% in EUR, and 27% in USD.
Adjusted EBITDA⁷ for 2025 is expected to range between $360m and $380m.
Approximately 90% of the electricity volumes expected to be generated in 2025 will be sold at fixed prices through PPAs or hedges.

________________________
_{⁶ Total revenues and income include revenues from the sale of electricity along with income from tax benefits from US projects amounting to $60m-80m.}
_{⁷ EBITDA is a non-IFRS financial measure. The Company is unable to provide a reconciliation of EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2.}

Financial Results Analysis

Revenues & Income by Segment
($ millions)	For the three months ended
Segment	31/03/2025	31/03/2024	% change
MENA	42,867	28,474	51%
Europe	51,384	59,160	(13%)
U.S.	34,789	4,495	674%
Other	829	1,532	(46%)
Total Revenues & Income	129,869	93,661	39%

Revenues & Income

In the first quarter of 2025, the Company’s total revenues and income increased to $130m, up from $94m last year, a growth rate of 39% year over year. This was composed of revenues from the sale of electricity, which rose 21% to $110m compared to $90m in the same period of 2024, as well as recognition of $20m in income from tax benefits, up 516% compared to $3m in 1Q24.

The Company benefited from the revenues and income contribution of newly operational projects. Since the first quarter of last year, 576 MW and 1,526 MWh of new projects were connected to the grid and began selling electricity, including seven of the Israel Solar and Storage Cluster units in Israel, Atrisco in the U.S, Pupin in Serbia, and Tapolca in Hungary. The most important increases in revenue from the sale of electricity originated at Atrisco, which added $13m, followed by the Israel Solar and Storage Cluster, with $11m, while Pupin contributed $6m. In total, new projects contributed $30m to revenues from the sale of electricity.

Offsetting this growth, the amount of electricity generated at our wind projects operating in Europe was lower compared to the same period last year mainly due to weaker wind volumes. In addition, generation at project Bjornberget in Sweden this quarter fell compared to last year due to a blade malfunction experienced at one of the site’s turbines. This prompted a complete shutdown of the wind farm, which is now in the process of gradually resuming operations. The Company recognized compensation of $4m from Bjornberget’s operating contractor in lieu of the lost revenues, which is recorded in other income.

Revenues and income were distributed between MENA, Europe, and the US, with 34% denominated in Israeli Shekel, 39% in Euros, and 27% denominated in US Dollars.

Net Income

In the first quarter of 2025, the Company’s net income amounted to $102m compared to $24m last year, an increase of 316% year over year. This increase stems from the $28m increase in revenues and income and $80m profit from the partial sale of the Sunlight cluster. This was offset by higher total operating expenses of $17m and net financial expenses of $10m (all after tax).

Adjusted EBITDA⁸

The Company’s Adjusted EBITDA grew by 84% to $132m in the first quarter of 2025, compared to $72m for the same period in 2024. Of this increase, $36m was driven by the factors described in the Revenues and Income section. The partial sale of the Sunlight cluster contributed $42m, representing the actual consideration received less the book value of the associated assets. Offsetting this growth was an increase of $11m in COGS linked to the addition of new projects, and an increase of $4m in operating expenses. Adjusting for the effects of this transaction, 1Q25 Adjusted EBITDA grew by 25% year-on-year to $90m.

________________________
_{⁸ Adjusted EBITDA is a non-IFRS measure. Please see the appendix of this presentation for a reconciliation to Net Income}

Conference Call Information

Enlight plans to hold its First Quarter 2025 Conference Call and Webcasts on Tuesday, May 6, 2025 to review its financial results and business outlook in both English and Hebrew. Management will deliver prepared remarks followed by a question-and-answer session. Participants can join by dial-in or webcast:

Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.

The press release with the financial results as well as the investor presentation materials will be accessible from the Company’s website prior to the conference call. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://enlightenergy.co.il/info/investors/.

Supplemental Financial and Other Information

We intend to announce material information to the public through the Enlight investor relations website at https://enlightenergy.co.il/info/investors, SEC filings, press releases, public conference calls, and public webcasts. We use these channels to communicate with our investors, customers, and the public about our company, our offerings, and other issues. As such, we encourage investors, the media, and others to follow the channels listed above, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page of our website.

Non-IFRS Financial Measures

This release presents Adjusted EBITDA, a financial metric, which is provided as a complement to the results provided in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). A reconciliation of the non-IFRS financial information to the most directly comparable IFRS financial measure is provided in the accompanying tables found at the end of this release.

We define Adjusted EBITDA as net income (loss) plus depreciation and amortization, share based compensation, finance expenses, taxes on income and share in losses of equity accounted investees and minus finance income and non-recurring portions of other income, net. For the purposes of calculating Adjusted EBITDA, compensation for inadequate performance of goods and services procured by the Company are included in other income, net. Compensation for inadequate performance of goods and services reflects the profits the Company would have generated under regular operating conditions and is therefore included in Adjusted EBITDA. With respect to gains (losses) from asset disposals, as part of Enlight’s strategy to accelerate growth and reduce the need for equity financing, the Company sells parts of or the entirety of selected renewable project assets from time to time, and therefore includes realized gains or losses from these asset disposals in Adjusted EBITDA. In the case of partial assets disposals, Adjusted EBITDA includes only the actual consideration less the book value of the assets sold. Our management believes Adjusted EBITDA is indicative of operational performance and ongoing profitability and uses Adjusted EBITDA to evaluate the operating performance and for planning and forecasting purposes.

Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus comparable financial measures determined under IFRS. For example, other companies in our industry may calculate the non-IFRS financial measures that we use differently or may use other measures to evaluate their performance. All of these limitations could reduce the usefulness of our non-IFRS financial measures as analytical tools. Investors are encouraged to review the related IFRS financial measure, Net Income, and the reconciliations of Adjusted EBITDA provided below to Net Income and to not rely on any single financial measure to evaluate our business.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s business strategy and plans, capabilities of the Company’s project portfolio and achievement of operational objectives, market opportunity, utility demand and potential growth, discussions with commercial counterparties and financing sources, pricing trends for materials, progress of Company projects, including anticipated timing of related approvals and project completion and anticipated production delays, the Company’s future financial results, expected impact from various regulatory developments and anticipated trade sanctions, expectations regarding wind production, electricity prices and windfall taxes, and Revenues and Income and Adjusted EBITDA guidance, the expected timing of completion of our ongoing projects, and the Company’s anticipated cash requirements and financing plans , are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.

These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; disruptions in trade caused by political, social or economic instability in regions where our components and materials are made; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; exposure to market prices in some of our offtake contracts; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives or benefits for, or regulations mandating the use of, renewable energy; our ability to effectively manage the global expansion of the scale of our business operations; our ability to perform to expectations in our new line of business involving the construction of PV systems for municipalities in Israel; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, the impact of tariffs on the cost of construction and our ability to mitigate such impact, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with increasingly complex tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel, including the ongoing war in Israel, where our headquarters and some of our wind energy and solar energy projects are located; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”), as may be updated in our other documents filed with or furnished to the SEC.

These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

About Enlight

Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023.

Company Contacts

Yonah Weisz
Director IR
investors@enlightenergy.co.il

Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
+1 617 542 6180
investors@enlightenergy.co.il

Appendix 1 – Financial information

Consolidated Statements of Income
	For the three months ended at March 31
	2025	*2024()**
	USD in	USD in
	Thousands	Thousands

Revenues	109,758	90,397
Tax benefits	20,111	3,264
Total revenues and income	129,869	93,661

Cost of sales (**)	(26,638)	(15,436)
Depreciation and amortization	(33,789)	(25,604)
General and administrative expenses	(11,846)	(8,859)
Development expenses	(2,564)	(2,418)
Total operating expenses	(74,837)	(52,317)
Gains from projects disposals	97,262	27
Other income (expenses), net	(1,105)	1,517
Operating profit	151,189	42,888

Finance income	6,695	8,065
Finance expenses	(30,203)	(19,493)
Total finance expenses, net	(23,508)	(11,428)

Profit before tax and equity loss	127,681	31,460
Share of losses of equity accounted investees	(1,227)	(144)
Profit before income taxes	126,454	31,316
Taxes on income	(24,651)	(6,831)
Profit for the period	101,803	24,485

Profit for the period attributed to:
Owners of the Company	94,458	16,763
Non-controlling interests	7,345	7,722
	101,803	24,485
Earnings per ordinary share (in USD) with a par value of
NIS 0.1, attributable to owners of the parent Company:
Basic earnings per share	0.80	0.14
Diluted earnings per share	0.75	0.14
Weighted average of share capital used in the
calculation of earnings:
Basic per share	118,783,541	117,963,310
Diluted per share	125,316,177	122,889,909

(*) The Consolidated Statements of Income have been adjusted to present comparable information for the previous period. For additional details please see Appendix 8.
(**) Excluding depreciation and amortization.

Consolidated Statements of Financial Position as of

	March 31	December 31
	2025	2024
	USD in	USD in
	Thousands	Thousands
Assets

Current assets
Cash and cash equivalents	449,530	387,427
Restricted cash	82,692	87,539
Trade receivables	73,125	50,692
Other receivables	71,475	99,651
Other financial assets	405	975
Assets of disposal groups classified as held for sale	–	81,661
Total current assets	677,227	707,945

Non-current assets
Restricted cash	59,964	60,802
Other long-term receivables	62,092	61,045
Deferred costs in respect of projects	392,119	357,358
Deferred borrowing costs	61	276
Loans to investee entities	32,329	18,112
Investments in equity accounted investees	49,303	–
Fixed assets, net	3,961,021	3,699,192
Intangible assets, net	293,035	291,442
Deferred taxes assets	8,023	10,744
Right-of-use asset, net	210,739	210,941
Financial assets at fair value through profit or loss	74,555	69,216
Other financial assets	63,903	59,812
Total non-current assets	5,207,144	4,838,940

Total assets	5,884,371	5,546,885

Consolidated Statements of Financial Position as of (Cont.)

	March 31	December 31
	2025	2024
	USD in	USD in
	Thousands	Thousands
Liabilities and equity

Current liabilities
Credit and current maturities of loans from banks and other financial institutions	207,662	212,246
Trade payables	167,765	161,991
Other payables	101,928	107,825
Current maturities of debentures	23,049	44,962
Current maturities of lease liability	10,192	10,240
Other financial liabilities	5,777	8,141
Liabilities of disposal groups classified as held for sale	–	46,635
Total current liabilities	516,373	592,040

Non-current liabilities
Debentures	549,517	433,994
Other financial liabilities	118,891	107,865
Convertible debentures	232,536	133,056
Loans from banks and other financial institutions	2,024,315	1,996,137
Loans from non-controlling interests	79,081	75,598
Financial liabilities through profit or loss	25,985	25,844
Deferred taxes liabilities	62,310	41,792
Employee benefits	1,092	1,215
Lease liability	209,958	211,941
Deferred income related to tax equity	387,943	403,384
Asset retirement obligation	85,141	83,085
Total non-current liabilities	3,776,769	3,513,911

Total liabilities	4,293,142	4,105,951

Equity
Ordinary share capital	3,323	3,308
Share premium	1,028,528	1,028,532
Capital reserves	49,890	25,273
Proceeds on account of convertible options	25,083	15,494
Accumulated profit	202,377	107,919
Equity attributable to shareholders of the Company	1,309,201	1,180,526
Non-controlling interests	282,028	260,408
Total equity	1,591,229	1,440,934
Total liabilities and equity	5,884,371	5,546,885

Consolidated Statements of Cash Flows

	For the three months ended at March 31
	2025	2024
	USD in	USD in
	Thousands	Thousands

Cash flows for operating activities
Profit for the period	101,803	24,485

Income and expenses not associated with cash flows:
Depreciation and amortization	33,789	25,604
Finance expenses, net	22,388	11,486
Share-based compensation	1,710	3,117
Taxes on income	24,651	6,831
Tax benefits	(20,111)	(3,264)
Other income (expenses), net	1,105	(134)
Company’s share in losses of investee partnerships	1,227	144
Gains from projects disposals	(97,262)	(27)
	(32,503)	43,757

Changes in assets and liabilities items:
Change in other receivables	(856)	(2,142)
Change in trade receivables	(20,376)	(16,909)
Change in other payables	8,604	(539)
Change in trade payables	7,802	71
	(4,826)	(19,519)

Interest receipts	2,512	2,928
Interest paid	(22,298)	(15,624)
Income Tax paid	(1,075)	(798)

Net cash from operating activities	43,613	35,229

Cash flows for investing activities
Sale (Acquisition) of consolidated entities, net	36,223	(1,388)
Changes in restricted cash and bank deposits, net	8,176	(4,988)
Purchase, development, and construction in respect of projects	(255,862)	(199,733)
Loans provided and Investment in investees	(7,430)	(11,284)
Repayments of loans from investees	30,815	–
Payments on account of acquisition of consolidated entity	(7,447)	(10,851)
Purchase of financial assets measured at fair value through profit or loss, net	(3,040)	(8,409)
Net cash used in investing activities	(198,565)	(236,653)

Consolidated Statements of Cash Flows (Cont.)
	For the three months ended at March 31
	2025	2024
	USD in	USD in
	Thousands	Thousands

Cash flows from financing activities
Receipt of loans from banks and other financial institutions	143,578	71,371
Repayment of loans from banks and other financial institutions	(108,922)	(10,448)
Issuance of debentures	125,838	–
Issuance of convertible debentures	114,685	–
Repayment of debentures	(21,994)	(1,284)
Dividends and distributions by subsidiaries to non-controlling interests	–	(108)
Deferred borrowing costs	(35,199)	(2,682)
Repayment of loans from non-controlling interests	–	(955)
Increase in holding rights of consolidated entity	(1,392)	–
Exercise of share options	11	–
Repayment of lease liability	(4,058)	(3,671)
Proceeds from investment in entities by non-controlling interest	7,732	152

Net cash from financing activities	220,279	52,375

Increase (Decrease) in cash and cash equivalents	65,327	(149,049)

Balance of cash and cash equivalents at beginning of period	387,427	403,805

Effect of exchange rate fluctuations on cash and cash equivalents	(3,224)	(4,905)

Cash and cash equivalents at end of period	449,530	249,851

Information related to Segmental Reporting

	For the three months ended at March 31, 2025
	MENA()**	Europe()**	USA	Total reportable segments	Others	Total
	USD in thousands
Revenues	42,867	51,384	14,678	108,929	829	109,758
Tax benefits	–	–	20,111	20,111	–	20,111
Total revenues and income	42,867	51,384	34,789	129,040	829	129,869

Segment adjusted EBITDA	68,017	44,663	30,549	143,229	81	143,310

Reconciliations of unallocated amounts:
Headquarter costs (*)						(11,701)
Intersegment profit						106
Gains from projects disposals						54,973
Depreciation and amortization and share-based compensation						(35,499)
Operating profit						151,189
Finance income						6,695
Finance expenses						(30,203)
Share in the losses of equity accounted investees						(1,227)
Profit before income taxes						126,454

(*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

(**) Due to the Company’s organizational restructuring, the Chief Operation Decision Maker (CODM) now reviews the group’s results by segmenting them into three business units: MENA (Middle East and North Africa), Europe, and the US. Consequently, the Central/Eastern Europe and Western Europe segments have been consolidated into the “Europe” segment, the Israel segment has been incorporated into the MENA segment, and the Management and Construction segment has been excluded. The comparative figures for the three months ended March 31, 2024, have been updated accordingly.

Information related to Segmental Reporting

	For the three months ended at March 31, 2024
	MENA	Europe	USA	Total reportable segments	Others	Total
	USD in thousands
Revenues	28,474	59,160	1,231	88,865	1,532	90,397
Tax benefits	–	–	3,264	3,264	–	3,264
Total revenues and income	28,474	59,160	4,495	92,129	1,532	93,661

Segment adjusted EBITDA	24,528	50,707	3,122	78,357	668	79,025

Reconciliations of unallocated amounts:
Headquarter costs (*)						(7,606)
Intersegment profit						190
Depreciation and amortization and share-based compensation						(28,721)
Operating profit						42,888
Finance income						8,065
Finance expenses						(19,493)
Share in the losses of equity accounted investees						(144)
Profit before income taxes						31,316

(*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

Appendix 2 – Reconciliations between Net Income to Adjusted EBITDA


($ thousands)	For the three months ended at
	March 31, 2025	March 31, 2024
Net Income	101,803	24,485
Depreciation and amortization	33,789	25,604
Share based compensation	1,710	3,117
Finance income	(6,695)	(8,065)
Finance expenses	30,203	19,493
Gains from projects disposals (*)	(54,973)	–
Share of losses of equity accounted investees	1,227	144
Taxes on income	24,651	6,831
Adjusted EBITDA	131,715	71,609

* Profit from revaluation linked to partial sale of asset.

Appendix 3 – Debentures Covenants

Debentures Covenants

As of March 31, 2025, the Company was in compliance with all of its financial covenants under the indenture for the Series C, D, F, G and H Debentures, based on having achieved the following in its consolidated financial results:

Minimum equity

The company’s equity shall be maintained at no less than NIS 375 million so long as debentures F remain outstanding, NIS 1,250 million so long as debentures C and D remain outstanding, and USD 600 million so long as debentures G and H remain outstanding.

As of March 31, 2025, the company’s equity amounted to NIS 5,916 million (USD 1,591 million).

Net financial debt to net CAP

The ratio of standalone net financial debt to net CAP shall not exceed 70% for two consecutive financial periods so long as debentures F remain outstanding and shall not exceed 65% for two consecutive financial periods so long as debentures C, D, G and H remain outstanding.

As of March 31, 2025, the net financial debt to net CAP ratio, as defined above, stands at 36%.

Net financial debt to EBITDA

So long as debentures F remain outstanding, standalone financial debt shall not exceed NIS 10 million, and the consolidated financial debt to EBITDA ratio shall not exceed 18 for more than two consecutive financial periods.

For as long as debentures C and D remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 15 for more than two consecutive financial periods.

For as long as debentures G and H remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 17 for more than two consecutive financial periods.

As of March 31, 2025, the net financial debt to EBITDA ratio, as defined above, stands at 8.

Equity to balance sheet

The standalone equity to total balance sheet ratio shall be maintained at no less than 20% ,25% and 28%, respectively, for two consecutive financial periods for as long as debentures F, debentures C and D and debentures G and H remain outstanding.

As of March 31, 2025, the equity to balance sheet ratio, as defined above, stands at 55%.

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94346603-d361-4e84-aabc-62db3e22c10c

The MIL Network –

May 6, 2025

MIL-OSI: Bilibili Inc. to Report First Quarter 2025 Financial Results on Tuesday, May 20, 2025

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, May 06, 2025 (GLOBE NEWSWIRE) — Bilibili Inc. (“Bilibili” or the “Company”) (NASDAQ: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced that it will report its first quarter 2025 unaudited financial results on Tuesday, May 20, 2025, before the open of U.S. markets.

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 20, 2025 (8:00 PM Beijing/Hong Kong Time on May 20, 2025). Details for the conference call are as follows:

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a personal PIN, which will be used to join the conference call.

Additionally, a live webcast of the conference call will be available on the Company’s investor relations website at http://ir.bilibili.com, and a replay of the webcast will be available following the session.

About Bilibili Inc.

Bilibili is an iconic brand and a leading video community with a mission to enrich the everyday lives of young generations in China. Bilibili offers a wide array of video-based content with All the Videos You Like as its value proposition. Bilibili builds its community around aspiring users, high-quality content, talented content creators and the strong emotional bonds among them. Bilibili pioneered the “bullet chatting” feature, a live comment function that has transformed our users’ viewing experience by displaying the thoughts and feelings of audience members viewing the same video. The Company has now become the welcoming home of diverse interests among young generations in China and the frontier for promoting Chinese culture across the world.

For more information, please visit: http://ir.bilibili.com.

For investor and media inquiries, please contact:

In China:

Bilibili Inc.
Juliet Yang
Tel: +86-21-2509-9255 Ext. 8523
E-mail: ir@bilibili.com

Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
E-mail: bilibili@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: bilibili@tpg-ir.com

The MIL Network –

May 6, 2025
MIL-OSI: GSI Technology to Participate in the Sidoti May Micro-Cap Virtual Conference

Source: GlobeNewswire (MIL-OSI)

SUNNYVALE, Calif., May 06, 2025 (GLOBE NEWSWIRE) — GSI Technology, Inc. (Nasdaq: GSIT), the inventor of the Associative Processing Unit (APU), a paradigm shift in artificial intelligence (AI) and high-performance compute (HPC) processing providing true compute-in-memory technology, today announced that management is scheduled to virtually participate in the Sidoti May Micro-Cap Virtual Conference on May 21 – 22, 2025. On behalf of the company, Lee-Lean Shu, Chairman and Chief Executive Officer, and Didier Lasserre, Vice President of Sales and Investor Relations, will deliver a company presentation at 4:00 p.m. Eastern time on Wednesday, May 21 in Track 2 and host one-on-one virtual meetings on May 21^st and 22^nd.

For more information about the conference or to schedule a virtual one-on-one meeting with GSI Technology, please visit: Sidoti May Virtual Conference. Note that the conference organizer reserves the right to adjust a company’s meeting schedule, including its presentation time. It is recommended that participants confirm all meeting times with the organizer.

A webcast of GSI Technology’s presentation will be available on the company’s website under the Events and Presentations tab: https://ir.gsitechnology.com/events-and-presentations.

ABOUT GSI TECHNOLOGY
Founded in 1995, GSI Technology, Inc. is a leading provider of semiconductor memory solutions. GSI’s resources are focused on bringing new products to market that leverage existing core strengths, including radiation-hardened memory products for extreme environments and Gemini-I, the associative processing unit designed to deliver performance advantages for diverse artificial intelligence applications. GSI Technology is headquartered in Sunnyvale, California, and has sales offices in the Americas, Europe, and Asia. For more information, please visit www.gsitechnology.com.

Contacts:
Investor Relations
Hayden IR
Kim Rogers
541-904-5075
Kim@HaydenIR.com

Media Relations
Finn Partners for GSI Technology
Ricca Silverio
(415) 348-2724
gsi@finnpartners.com

Company
GSI Technology, Inc.
Douglas M. Schirle
Chief Financial Officer
408-331-9802

The MIL Network –

May 6, 2025

MIL-OSI: Marquette National Corporation Reports First Quarter 2025 Results

Source: GlobeNewswire (MIL-OSI)

CHICAGO, May 06, 2025 (GLOBE NEWSWIRE) — Marquette National Corporation (OTCQX: MNAT) today reported net loss of $2.9 million for the quarter ended March 31, 2025, compared to net income of $8.5 million for the first three months of 2024. The loss per share for the first three months of 2025 was $(0.67), as compared to income of $1.93 per share for the comparable period in 2024.

At March 31, 2025, total assets were $2.217 billion, an increase of $9.6 million, compared to $2.208 billion at December 31, 2024. Total loans increased by $4.6 million, to $1.410 billion compared to $1.405 billion at the end of 2024. Total deposits increased by $10.3 million, or 1%, to $1.750 billion compared to $1.740 billion at the end of 2024.

Paul M. McCarthy, Chairman & CEO, said, “the primary reason for the decrease in consolidated earnings was a lower level of unrealized gains on the Company’s equity portfolio in the first quarter of 2025. The decrease in unrealized gains on the Company’s equity portfolio was partially offset by an increase in net interest income. Other comprehensive income was positive for the first quarter and helped deliver an increase to tangible book value per share for the first quarter.”

Marquette National Corporation is a diversified financial holding company and the parent of Marquette Bank, a full-service, community bank that serves the financial needs of communities in Chicagoland. The Bank has branches located in: Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit and Tinley Park, Illinois.

For further information on financial results, visit: https://www.otcmarkets.com/stock/MNAT/disclosure.

Special Note Concerning Forward-Looking Statements.
This document contains, and future oral and written statements of the Company and its management may contain, forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future performance and business of the Company. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of the Company’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “bode”, “predict,” “suggest,” “project”, “appear,” “plan,” “intend,” “estimate,” ”annualize,” “may,” “will,” “would,” “could,” “should,” “likely,” “might,” “potential,” “continue,” “annualized,” “target,” “outlook,” as well as the negative forms of those words, or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actual results to differ materially from those in its forward-looking statements. These factors include, but are not limited to: (i) the strength of the local, state, national and international economies and financial markets (including effects of inflationary pressures and supply chain constraints); (ii) effects on the U.S. economy resulting from the implementation of policies proposed by the new presidential administration, including tariffs, mass deportations and tax regulations; (iii) the economic impact of any future terrorist threats and attacks, widespread disease or pandemics, acts of war or threats thereof (including the Russian invasion of Ukraine and ongoing conflicts in the Middle East), or other adverse events that could cause economic deterioration or instability in credit markets, and the response of the local, state and national governments to any such adverse external events; (iv) new or revised accounting policies and practices, as may be adopted by state and federal regulatory agencies, the Financial Accounting Standards Board or the Public Company Accounting Oversight Board; (v) changes in local, state and federal laws, regulations and governmental policies concerning the Company’s general business and any changes in response to the bank failures in 2023; (vi) the imposition of tariffs or other governmental policies impacting the value of products produced by the Company’s commercial borrowers; (vii) increased competition in the financial services sector, including from non-bank competitors such as credit unions and fintech companies, and the inability to attract new customers; (viii) changes in technology and the ability to develop and maintain secure and reliable electronic systems; (ix) unexpected results of acquisitions which may include failure to realize the anticipated benefits of the acquisitions and the possibility that transaction costs may be greater than anticipated; (x) the loss of key executives and employees, talent shortages and employee turnover; (xi) changes in consumer spending; (xii) unexpected outcomes and costs of existing or new litigation or other legal proceedings and regulatory actions involving the Company; (xiii) the economic impact on the Company and its customers of climate change, natural disasters and exceptional weather occurrences such as tornadoes, floods and blizzards; (xiv) fluctuations in the value of securities held in our securities portfolio, including as a result of changes in interest rates; (xv) credit risk and risks from concentrations (by type of borrower, geographic area, collateral and industry) within our loan portfolio and large loans to certain borrowers (including CRE loans); (xvi) the overall health of the local and national real estate market; (xvii) the ability to maintain an adequate level of allowance for credit losses on loans; (xviii) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and who may withdraw deposits to diversify their exposure; (xix) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact the Company’s cost of funds; (xx) the level of non-performing assets on our balance sheets; (xxi) interruptions involving our information technology and communications systems or third-party servicers; (xxii) the occurrence of fraudulent activity, breaches or failures of our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiii) changes in the interest rates and repayment rates of the Company’s assets; (xxiv) the effectiveness of the Company’s risk management framework, and (xxv) the ability of the Company to manage the risks associated with the foregoing as well as anticipated. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Marquette National Corporation and Subsidiaries
Financial Highlights
(Unaudited)
(in thousands, except share and per share data)

Balance Sheet
	03/31/25		12/31/24	Percent Change

Total assets	$2,217,293		$2,207,663	0	%
Total loans, net	1,395,105		1,390,799	0	%
Total deposits	1,750,071		1,739,799	1	%
Total stockholders’ equity	174,216		173,579	0	%

Shares outstanding	4,367,449		4,367,477	0	%
Book value per share	$39.89		$39.74	0	%
Tangible book value per share	$31.80		$31.65	0	%

Operating Results
	Three Months Ended March 31,			Percent Change
	2025		2024
Net Interest income	$12,098		$11,025	10	%
Provision for credit losses	328		200	64	%
Realized securities gains, net	6,316		215		*
Unrealized holding gains (losses) on equity securities and exchange traded funds	(11,963	)	9,860		*
Other income	3,658		4,331	-16	%
Other expense	14,086		13,835	2	%
Income tax expense (benefit)	(1,357	)	2,930		*

Net income (loss)	(2,948	)	8,466		*

Basic and fully diluted earnings (loss) per share	$(0.67	)	$1.93		*
Weighted average shares outstanding	4,367,473		4,381,148	0	%

Cash dividends declared per share	$0.31		$0.28	11	%

Comprehensive income	$1,992		$7,404	-73	%

* Not meaningful

For more information:
Patrick Hunt
EVP & CFO
708-364-9019
phunt@emarquettebank.com

The MIL Network –

May 6, 2025

MIL-OSI: Carlos Scarpero Helps Veterans with Bad Credit Unlock the Door to Homeownership with VA Loans

Source: GlobeNewswire (MIL-OSI)

Dayton, Ohio, May 06, 2025 (GLOBE NEWSWIRE) — Veterans facing credit challenges now have a powerful ally in the mortgage process. Carlos Scarpero, a trusted mortgage broker based in Dayton, Ohio, is offering expert guidance to help veterans secure VA home loans, even with poor credit.

Carlos Scarpero, a mortgage broker with Edge Home Finance

In his newly published article, “How to Get a VA Home Loan with Bad Credit,” Scarpero outlines practical steps for veterans to qualify for home financing using their VA benefits, dispelling common myths about credit score requirements and loan eligibility.

“Many veterans assume bad credit disqualifies them from homeownership,” says Scarpero. “That’s simply not true. With the right guidance and a little planning, it’s possible to buy a home—even with less-than-perfect credit.”

Key Insights from the Guide:
No Minimum Credit Score Set by the VA
The VA doesn’t require a minimum credit score for home loans. However, individual lenders often set their own thresholds, commonly around 580 to 620.

Lender Flexibility Exists
Some lenders may consider applicants with scores as low as 500, especially if other financial strengths, such as stable income or savings, are present.

Manual Underwriting as an Option
For borrowers with unique financial circumstances or limited credit history, manual underwriting allows lenders to evaluate alternative data like rent and utility payment history.

Handling Collections and Financial Setbacks
Scarpero details how medical collections, child support, credit card debt, and IRS obligations are treated during the VA loan process—and how to address them effectively.

Post-Bankruptcy and Foreclosure Recovery
Veterans with a history of bankruptcy or foreclosure may still qualify for a VA loan, often with shorter waiting periods compared to other mortgage options.

About Carlos Scarpero

Carlos Scarpero is a licensed mortgage broker with Edge Home Finance, specializing in VA and non-traditional home loans. With over a decade of experience and a passion for helping veterans achieve homeownership, he serves clients throughout Ohio, including Dayton, Cincinnati, and Columbus.

Scarpero’s approach is built on transparency, education, and tailored solutions—especially for those who may feel left behind by traditional lenders.

To read the full guide or get started with a VA loan, visit:
www.scarpero.com/how-to-get-a-va-home-loan-with-bad-credit

The MIL Network –

May 6, 2025
MIL-OSI: CBAK Energy to Participate in Shenzhen International Battery Technology Conference & Expo on Tuesday, May 15, 2025
Source: GlobeNewswire (MIL-OSI)

DALIAN, China, May 06, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy”, or the “Company”), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced its participation in the upcoming Shenzhen International Battery Technology Conference & Expo (“CIBF 2025”, or the “Event”), scheduled from Tuesday, May 15, 2025 to Saturday, May 17, 2025.

Event Details:
- Date: May 15-17, 2025 (Beijing Time)
- Location: Shenzhen International Convention & Exhibition Center, One Zhan Cheng Road, Bao’an District, Shenzhen, PRC
- Booth Number: Booth 12T008, Hall 12
CBAK Energy’s sales team and R&D department, along with key members of our management, will be attending the Event. All interested parties are welcomed to visit our booth and engage with our team.

About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.

For more information, please visit ir.cbak.com.cn

About CIBF 2025
CIBF 2025 is one of the largest and most influential international exhibitions in the global battery industry. Organized by the China Industrial Association of Power Sources, this event is expected to cover an exhibition area of over 300,000 square meters, with more than 3,000 exhibitors and over 400,000 professional visitors. The event will showcase the latest advancements in power batteries, energy storage solutions, hydrogen fuel cells, battery management systems (BMS), and sustainable energy innovations.

For more information, plesase visit https://www.bat-expo.com

For further inquiries, please contact:

In China:

CBAK Energy Technology, Inc.
Investor Relations Department
Email: ir@cbak.com.cn

The MIL Network –
May 6, 2025
MIL-OSI: CLEAR Announces $0.125 Regular Quarterly Cash Dividend

Source: GlobeNewswire (MIL-OSI)

NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Clear Secure, Inc. (NYSE: YOU) (“CLEAR” or the “Company”) today announced that its Board of Directors (the “Board”) declared a regular quarterly dividend of $0.125 per share, payable on June 17, 2025 to holders of record of Class A Common Stock and Class B Common Stock as of the close of business on June 10, 2025.

The Company will fund the payment of the quarterly dividend from proportionate cash distributions by its subsidiary.

The declaration, timing and amount of any future dividends will be subject to the discretion and approval of the Board and will depend on a number of factors, including CLEAR’s results of operations, cash flows, financial position and capital requirements, as well as general business conditions, legal, tax and regulatory restrictions and other factors the Board deems relevant at the time it determines to declare such dividends.

About CLEAR
CLEAR’s mission is to strengthen security and create frictionless experiences. With over 30 million Members and a growing network of partners across the world, CLEAR’s identity platform is transforming the way people live, work, and travel. Whether you are traveling, at the stadium, or on your phone, CLEAR connects you to the things that make you, you – making everyday experiences easier, more secure, and friction-free. CLEAR is committed to privacy done right. Members are always in control of their own information, and we never sell Member data. For more information, visit clearme.com.

Forward-Looking Statements
This release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any and such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors, including those described in the Company’s filings within the Securities and Exchange Commission, including the sections titled “Risk Factors” in our Annual Report on Form 10-K. The Company disclaims any obligation to update any forward-looking statements contained herein.

CLEAR
media@clearme.com

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

The MIL Network –

May 6, 2025
MIL-OSI: 21Shares Launches Cronos ETP to Expand Access to Emerging Web3 Infrastructure

Source: GlobeNewswire (MIL-OSI)

New product offers investors regulated exposure to the fast-growing Cronos blockchain, powered by Crypto.com

Zurich, 6 May 2025 – 21Shares AG (“21Shares”), one of the world’s largest issuers of crypto exchange-traded products (“ETPs”), today announced the launch of the 21Shares Cronos ETP (ticker: CRON), offering investors exposure to CRO, the native token of the Cronos blockchain.

Exchange Product Name Ticker ISIN Fee

Euronext Paris and Euronext Amsterdam 21Shares Cronos ETP CRON CH1443364232 2.50%

Cronos is a fast, scalable, and low-cost Layer 1 blockchain designed to support decentralised finance (DeFi), NFTs, and Web3 applications. Built for interoperability, Cronos seamlessly integrates with both Ethereum and Cosmos networks, creating a multi-chain environment that bridges centralized and decentralised ecosystems. The network also stands at the forefront of Web3 innovation, merging blockchain technology with AI to power the next generation of finance, gaming, and business applications.

“Cronos is uniquely positioned at the intersection of centralised access and decentralised innovation,” said Mandy Chiu, Head of Financial Products Development at 21Shares. “By launching a Cronos ETP, we are offering investors easy, regulated exposure to a blockchain ecosystem that is driving real-world adoption and pioneering the future of Web3.”

“Providing more ways for traders to engage with cryptocurrencies is central to our vision of further mainstreaming crypto,” said Eric Anziani, President and COO of Crypto.com. “Crypto.com is proud to be a long-time supporter and contributor to the Cronos ecosystem, and we are incredibly excited to partner with 21Shares to enable even more exposure to Cronos and Web3 infrastructure.”

The 21Shares Cronos ETP provides investors a straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges. Cronos benefits from a strong network and offers a compelling investment case with its focus on scalability, interoperability, and AI-driven applications.

Notes to editors

About 21Shares

21Shares is one of the world’s leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.

21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com

Media Contact
Matteo Valli
matteo.valli@21shares.com

About Cronos

Cronos (cronos.org) is a leading blockchain ecosystem, adopted by Crypto.com and more than 500 application developers and partners representing an addressable user base of more than 100 million people around the world. Cronos’ mission is to make it easy and safe for the next billion crypto users to adopt self-custody in Web3, with a focus on Decentralized Finance and Gaming.

The Cronos universe encompasses 3 chains: Cronos (EVM), the leading Ethereum-compatible blockchain built on Cosmos SDK; Cronos POS, a leading Cosmos chain for payments and NFTs; and Cronos zkEVM, a new high performance layer 2 network.

Cronos ranks among the top 15 blockchain ecosystems, safeguarding more than 6 billion dollars of user assets. Since launching in 2021, it has securely settled more than 100 million transactions.

Cronos Labs is the $100M startup accelerator focused on Cronos.

About Crypto.com

Founded in 2016, Crypto.com is trusted by more than 140 million customers worldwide and is the industry leader in regulatory compliance, security and privacy. Our vision is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation and empowering the next generation of builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.

Learn more at https://crypto.com.

DISCLAIMER

This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

###

The MIL Network –

May 6, 2025
MIL-OSI: Jitterbit Unveils Layered AI Architecture, Adds Accountable AI Agents to AI-Infused Low-Code Harmony Platform
Source: GlobeNewswire (MIL-OSI)

LONDON, May 06, 2025 (GLOBE NEWSWIRE) — Jitterbit, a global leader in accelerating business transformation for enterprise systems, today announced the evolution of its unified AI-infused low-code Harmony platform to deliver accountable, layered AI technology — including enterprise-ready AI agents — across its entire product portfolio.

“We’re not just automating; we’re transforming how enterprises operate,” said Jitterbit President and CEO Bill Conner. “Jitterbit is delivering the first layered AI and low-code architecture to democratize end-to-end automation with a focus on power, efficiency, and AI accountability. This isn’t just about automating tasks; it’s about architecting intelligent, autonomous agents with a unified platform that eliminates the ‘data divide’ between enterprise data and applications.”

Jitterbit Harmony, which includes iPaaS, App Builder, API Manager and EDI offerings, is designed for line-of-business leaders and IT/IS experts to collaborate on critical automation, application development and orchestration initiatives. The platform empowers both groups to build AI agents that seamlessly integrate with their complex enterprise architecture, driving unprecedented efficiency and innovation while maintaining rigorous control, transparency and accountability.

“The beauty of our layered AI approach is that our customers can use their current investments to design and implement AI agents, or have Jitterbit do it for them,” said Jitterbit CTO Manoj Chaudhary. “We’re not isolating AI to a particular product or feature; customers have full control to use low-code or natural language to take their existing implementations and quickly design new AI agents to accelerate their current systems and processes in ways they’ve never imagined.”

Accountable AI agents in action

Designed with security, governance and accountability as the foundation, Jitterbit’s layered AI and low-code Harmony platform deliver powerful AI agents to drive new levels of efficiency, ease of use, and faster time to value for businesses across all industries. Organizations can leverage Harmony to deploy AI agents via three distinct methods:
- Build new AI agents with ease. Design AI agents with natural language or low-code in the Harmony platform with the same easy-to-use studio where organizations orchestrate powerful system integrations and automations today.
- Leverage trusted AI agents. Source AI agents in the expanded Jitterbit Marketplace. This allows organizations to leverage agents created by Jitterbit, as well as third-party AI agents already vetted by Jitterbit.
- Outsource AI agent development. Jitterbit will design, test and deploy custom, purpose-built and accountable AI agents for organizations. This professional services offering will allow businesses to outsource the development of custom agents specifically designed to solve their core automation and orchestration needs. Jitterbit’s agentic AI professional services offering is available to customers beginning in May 2025.
“Regardless of how AI agents are built and deployed, trust and accountability are Jitterbit’s core tenets,” said Chaudhary. “We’re empowering organizations with the ‘checks and balances’ to ensure agents are not only making correct logical decisions, but also providing guardrails to mitigate issues like toxicity and AI hallucination. And, as always, we’re providing mechanisms for human oversight and verification for extra layers of accountability.”

According to Jitterbit’s latest research, “The 2025 Automation Benchmark Report: Insights from IT Leaders on Enterprise Automation & the Future of AI-Driven Businesses,” 99% of enterprises have integrated AI into their operations and 31% of enterprises are already planning for agentic AI, signaling the next wave of autonomous decision-making enterprise AI solutions, which require layered AI and integrated end-to-end AI automation.

“Accountability is no longer a ‘nice-to-have’ but a critical driver of business value in the age of agentic AI,” said Richard Guest, EMEA Delivery Director at Jeld-Wen, a global manufacturer and distributor that operates in 14 countries in North America and Europe and employs approximately 16,000 people. “A focus on layered and accountable AI enables organizations to confidently scale their automation initiatives, knowing they have the control and visibility needed to achieve strategic outcomes.”

Examples of agentic AI applications include intelligent customer service agents, automated supply-chain management, human resource onboarding, sales account planning, legal research, financial analysis, and more.

To learn more about Jitterbit’s layered AI framework and the Harmony platform, please visit jitterbit.com/harmony.

AI Assistants for Jitterbit App Builder, API Manager Reach General Availability

Jitterbit is also announcing the general availability of AI assistants for Jitterbit App Builder and Jitterbit API Manager. The AI assistants, which were announced and demoed at the annual Jitterbit Customer Meetup in London in November 2024, will be available to all customers in June 2025.
- Jitterbit App Builder AI Assistant: Leverage AI to build and/or modify an application using natural language in a chatbot interface. Create a unique, customized user interface (UI) by simply uploading an image file to guide the AI on the desired look and feel of the AI-built application.
- Jitterbit API Manager AI Assistant: Build an API using AI, pushing the boundaries of API management and integration. Create APIs with unprecedented efficiency and ease, significantly reducing development time and increasing productivity.
About Jitterbit
For organizations ready to modernize and innovate, Jitterbit provides a unified AI-infused low code platform for integration, orchestration, automation, and app development that accelerates business transformation, boosts productivity, and unlocks value. The Jitterbit Harmony platform, including iPaaS, API Manager, App Builder and EDI, future-proofs operations, simplifies complexity and drives innovation for organizations globally. Learn more at www.jitterbit.com and follow us on LinkedIn.

MEDIA CONTACT:

Geoff Blaine
Jitterbit
Email: geoff.blaine@jitterbit.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e9287edf-fe1e-41bc-aabc-7912603fc749

The MIL Network –
May 6, 2025
MIL-OSI: Best VPN for Android (2025): IPVanish Awarded Top Mobile VPN by Software Experts
Source: GlobeNewswire (MIL-OSI)

NEW YORK CITY, May 06, 2025 (GLOBE NEWSWIRE) — Software Experts has released its annual review of mobile VPN solutions, awarding IPVanish the title of Top Mobile VPN for Android in 2025. The recognition is based on an in-depth evaluation of performance metrics, privacy standards, mobile compatibility, and user-centric features, reflecting ongoing shifts in the mobile cybersecurity landscape.

Top VPN for Android:
- IPVanish – Whether for privacy, streaming, secure browsing, or data protection, IPVanish provides everything needed in a mobile VPN – without compromises.
As mobile devices become the primary access point for digital communication, media consumption, and online transactions, the importance of reliable mobile security tools continues to rise. Android, in particular, remains the most widely used mobile operating system worldwide, representing a substantial share of global mobile traffic. This broad adoption has also made Android a key target for privacy invasions, network-based attacks, and data surveillance.

In response to these growing threats, virtual private networks (VPNs) have emerged as a foundational layer in mobile cybersecurity. VPNs enable users to mask their IP addresses, encrypt their internet activity, and bypass content restrictions. Amid an increasingly crowded VPN market, IPVanish has demonstrated a consistent commitment to maintaining a secure, user-friendly mobile platform tailored for Android environments.

Award Criteria and Review Highlights

Software Experts’ evaluation criteria centered on five core areas: mobile app functionality, encryption strength, server availability, performance consistency, and data privacy policies. IPVanish received high marks across all categories, notably for its Android app interface, adaptive protocol support, and zero-logs policy.

The Android application delivers a streamlined experience, allowing users to connect with a single tap. Features such as split tunneling, kill switch, LAN blocking, and access to the WireGuard protocol allow Android users to manage privacy levels with flexibility. The app is also designed to optimize battery life and maintain high connection speeds, which is critical for users who rely on mobile data and public Wi-Fi networks.

Unlike many VPN services that outsource server management, IPVanish operates its own global server infrastructure. This approach allows greater oversight of hardware security, network uptime, and data routing. The current network spans more than 2,400 servers in over 90 locations worldwide.

Privacy Landscape and Market Context

The awarding of IPVanish aligns with a broader movement toward data transparency and security sovereignty. Mobile users are increasingly aware of how data is tracked, shared, and monetized. Android users, in particular, are more likely to install third-party applications and use unencrypted Wi-Fi networks – both of which increase exposure to data breaches and behavioral profiling.

Regulatory developments, including data protection laws such as the GDPR and California Consumer Privacy Act (CCPA), have also intensified scrutiny on how mobile data is handled. VPNs serve as a key tool in shielding personal activity from surveillance, whether conducted by advertisers, ISPs, or public network operators.

According to a report by Global Market Insights, the mobile VPN market is expected to exceed USD 120 billion by 2032, driven by rising adoption in both individual and enterprise sectors. Within this landscape, IPVanish’s emphasis on transparent practices and user control stands out as a response to growing market expectations for privacy-centric tools.

Technology Integration and Features

In addition to offering standard VPN encryption and IP masking, IPVanish’s Android app supports advanced protocols such as OpenVPN and WireGuard. These protocols provide different balances of security, speed, and stability, enabling users to adapt based on location and usage. WireGuard, in particular, has gained traction for its ability to maintain performance without compromising encryption standards.

Features like split tunneling allow users to choose which apps operate through the VPN and which do not – a useful option for mobile banking, gaming, or media apps that require direct internet access. The built-in kill switch cuts off internet traffic if the VPN disconnects unexpectedly, minimizing the risk of accidental exposure.

Subscription Plans and Consumer Flexibility

IPVanish offers two main service tiers – Essential and Advanced – each available in monthly, annual, and two-year billing cycles. The Essential tier provides high-speed VPN access, privacy protection, and unlimited connections. The Advanced plan includes additional tools such as a private browser and 1TB of encrypted cloud backup with secure file sharing capabilities.

All long-term plans are covered by a 30-day money-back guarantee, providing risk-free access to the service for new users. Monthly plans remain flexible but do not qualify for the refund policy.

Software Experts noted that IPVanish’s subscription model delivers value without compromising security or limiting access to features. All users receive full access to core security capabilities, regardless of the selected plan.

Android Device Security Outlook

The mobile threat landscape is expected to intensify, particularly in urban and enterprise environments where users routinely access sensitive data on public or shared networks. Android’s open ecosystem, while offering flexibility, introduces increased vulnerabilities due to third-party app stores, varied device manufacturers, and inconsistent security updates.

Mobile VPNs are being adopted not just for encryption, but as part of broader strategies for remote work, cloud storage protection, and secure communications. IPVanish addresses this demand by delivering tools that integrate privacy controls with cloud and browser utilities, especially within its Advanced plan.

Software Experts emphasized that tools like IPVanish are no longer supplementary but essential for maintaining mobile privacy. Android users, who face distinct risks based on usage behavior and geography, benefit from real-time data masking and adaptive security protocols.

Recognition Reflects Shifting Priorities in Mobile Privacy

The decision to recognize IPVanish as the leading Android VPN for 2025 underscores how security, transparency, and performance are becoming baseline expectations for mobile security providers. With increased awareness around digital privacy and the expanding role of Android devices in everyday life, users are seeking tools that can safeguard both routine browsing and sensitive transactions.

By delivering an Android app that meets these demands through practical design, advanced security protocols, and flexible pricing, IPVanish has positioned itself as a prominent solution within an evolving digital ecosystem.

The full review and technical evaluation of IPVanish’s Android offering can be found at Software Experts.

About IPVanish: IPVanish, a Ziff Davis company, is an award-winning cybersecurity provider whose tools and products support internet safety, digital privacy, and online freedom. With a commitment to innovation, transparency, and user-centric solutions, IPVanish is a leading name in the VPN industry.

About Software Experts: Software Experts provides news and reviews of consumer products and services. As an affiliate, Software Experts may earn commissions from sales generated using links provided.

The MIL Network –
May 6, 2025
MIL-OSI: Nagano Lean Body Tonic Reviews (WARNING) Shocking Consumer Reports on Ingredients, Side Effects, And Benefits!
Source: GlobeNewswire (MIL-OSI)

Explore the benefits, side effects, and user feedback on Nagano Tonic. Learn how this natural weight loss formula boosts metabolism, supports energy and promotes healthy fat burning with its clinically-backed ingredients.

NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Nagano Lean Body Tonic is a natural solution that is claimed to promote healthy weight loss in the body. The creator of the supplement says that this solution contains a proprietary blend of clinically proven natural ingredients that acts on the prime factor that can induce healthy fat-burning in the body which is activating your metabolism.

In this Nagano Lean Body Tonic review, we will study and analyze everything about the supplement that will help you decide if it is the right product for you or not.

MUST READ: Critical Evaluation – Expert Opinions On Nagano Lean Body Tonic’s Results And Effectiveness!

Nagano Lean Body Tonic Reviews: How It Targets Stubborn Fat Using Science-Backed Ingredients?

This recently launched weight loss solution has been receiving massive hype from weight loss supplement users in the last few users. It seems that the prime reason why the formula is hyped is because of the fact that the supplement is effective in initiating healthy weight loss in the body.

However, it is important to make sure that the supplement is effective and for this, we will have to dig deep into the supplement and examine its various aspects such as the ingredients of the formula, its working principle, the benefits that it offers, its safety and manufacturing quality, and so on.

In this Nagano Lean Body Tonic review, we present you with a detailed analysis of all aspects of the supplement that can help you determine its effectiveness. Along with this, we will also look at a few other factors about the supplement such as its cost, refund policy, and availability to reach an informed decision on whether or not the supplement is worth spending your money on.

Therefore, without further ado, let’s dive into the review.

Official Website – Click Here!

What Exactly Is Nagano Lean Body Tonic?

Nagano Lean Body Tonic is a natural weight loss supplement that is made for all people struggling to keep a healthy weight. The formula is a proprietary blend of clinically backed natural ingredients that activates your body’s metabolism which will induce a healthy weight loss in the body.

Besides helping a person lose weight, the natural solution also minimizes cravings, boosts energy levels, supports mental clarity, improves digestion, and increases energy levels. The weight loss formula is made in FDA-registered lab facilities in the US by following strict quality control measures.

The supplement contains only high-quality natural ingredients and there are no artificial substances in the supplement which suggests that it is a safe one. The manufacturer has made the formula in powder form which you can take by mixing with water or any beverage of your choice.

How Does It Reshape Your Body?

Nagano Lean Body Tonic is a natural solution that is formulated based on an Eastern Elixir that has helped people in Japan stay fit and lean even in their old age. The formula works on the main factor that works to help you lose weight which is your body’s metabolism.

Nagano Lean Body Tonic consists of ingredients that have properties that activate your metabolism and increase its rate. This will result in the release of excess fat in the body and they will be then burnt for energy production, thus inducing healthy fat loss in the body.

Along with helping you lose weight, the ingredients of Nagano Lean Body Tonic can also help in improving gut health, increasing energy and vitality, improving mental clarity, and minimizing cravings. All of these can help a person stay fit and healthy.

Curious To Know More About Nagano Tonic? Visit The Official Website

Nagano Lean Body Tonic Ingredients: What’s Inside?

Nagano Lean Body Tonic contains the following ingredients that are added in the right proportions to work effectively in the body. Let us now take a detailed look at a few of the main ingredients of the supplement:

Camu Camu

Camu camu is an ingredient that is packed with vitamin C and antioxidants that are beneficial for improving your overall health. The ingredient can help you lose weight by igniting metabolism at a deeper level. Camu camu also boosts energy levels and helps you stay active.

EGCG

EGCG is an active substance in green tea that has been used in various traditional medicines to treat numerous ailments. This ingredient can increase your metabolic rate which will help you lose extra fat in the body. EGCG also boosts your vitality.

Mangosteen

Mangosteen is a nutrient-rich fruit that promotes healthy weight loss in the body by boosting your metabolism. The ingredient has powerful antioxidant properties that protect your body from oxidative stress. Mangosteen also aids in maintaining healthy digestion.

Panax

Panax is an ingredient that is commonly used in East Asian traditional medicines for various purposes. The ingredient has numerous health properties that can improve gut health, boost metabolism, and initiate weight loss in the body.

Momordica Charantia

Momordica charantia is one of the main ingredients of Nagano Lean Body Tonic that helps you lose weight by enhancing your metabolism. The ingredient can also aid in boosting your energy levels by burning extra fat in the body for energy production.

Ashwagandha

Ashwagandha is a powerful adaptogen that can offer physical, mental, and cognitive health benefits. The ingredients can boost your metabolism, increase your energy levels, and enhance vitality. It also helps you burn excess fat in the body.

Besides these ingredients, the Nagano Lean Body Tonic formula also contains acerola, eleuthero root, alfalfa leaf, cinnamon cassia, ginger, and inulin, and a proprietary blend of 8 powerful antioxidants.

Click To Read The Scientific Evidence That Supports the Nagano Tonic Formula

What Benefits Can Be Expected From Nagano Tonic?

Now let’s see what are the benefits that Nagano Lean Body Tonic offers:
- The formula can help you lose weight
- Nagano Lean Body Tonic minimizes cravings
- The supplement boosts energy and vitality
- The supplement supports mental clarity
Manufacturing Quality And Safety Standards

Nagano Lean Body Tonic is made using natural ingredients that are sourced from trusted suppliers and then they were made into a unique proprietary blend in FDA-registered facilities that follows GMP guidelines. The creator has taken extensive quality measures in each step of the manufacturing process ensuring quality.

Nagano Lean Body Tonic does not have any artificial ingredients, harmful chemicals, additives, or preservatives. This shows that the manufacturer has followed the necessary safety standards in the formulation of the supplement. The safety standard of the supplement also makes sure that it is completely free of all kinds of harmful side effects.

Click To Verify Nagano Tonic’s Availability On The Official Website

Right Way To Use Nagano Tonic To Minimize Side Effects

The manufacturer of Nagano Lean Body Tonic has included a formula worth a month’s use in each bottle. As per the official website, the ideal dosage that needs to be followed when taking the supplement is one scoop per day. You may take the supplement by mixing it with water or any other drink of your choice.

If you are unsure about the dosage, you may consult a doctor and take the supplement as advised by them. In both cases, the manufacturer advises that you stick to the dosage that is healthy for your body.

Nagano Lean Body Tonic Results And Longevity

Nagano Lean Body Tonic is a supplement that can give you effective and long-lasting results within a short span of time. You will see changes in your body weight within a few weeks of use and then consistent use of the supplement for a few months will give you maximum results.

As per the manufacturer, the average time needed to get effective results from the supplement is three months. This may vary from person to person. Nagano Lean Body Tonic works in your body to give you long-lasting results and the manufacturer says that the result that you receive from the supplement will last for a few years if you follow a healthy lifestyle.

Benefits And Side Effect Reports from Real Users

Nagano Lean Body Tonic is a natural weight loss supplement praised for its ability to boost metabolism, burn stubborn fat, and improve digestion using a blend of herbal ingredients. Many users report noticeable results in energy levels and fat reduction within weeks of use.

On platforms like Reddit, most discussions around Nagano Tonic focus on its mild to non-existent side effects. Common feedback highlights how it doesn’t cause jitters, crashes, or stomach discomfort—issues often associated with weight loss products.

A few users mentioned that results can be slower without diet and exercise changes, and some expressed skepticism about marketing claims. However, complaints about side effects are minimal to none, with the majority of users reporting a smooth experience.

Overall, Nagano Tonic is gaining a positive reputation among health-conscious individuals seeking a more natural and gentle approach to weight loss.

Want To Read Genuine Customer Reviews? Visit The Official Website!

Real User Testimonials And Experiences

Curious about what others are experiencing with Nagano Lean Body Tonic? Here are a few honest testimonials from real users who noticed results without the harsh side effects.
- Emily R., 42 – Dallas, TX
“I’ve tried a lot of weight loss products, and most left me jittery or upset my stomach. With Nagano Lean Body Tonic, I noticed steady progress without any of those issues. No headaches, no nausea—just a gentle boost in energy and fewer cravings. It felt like my body was finally working with me, not against me.”
- Jake M., 35 – Boulder, CO
“I was skeptical at first, but I started taking the tonic with breakfast every day. What stood out to me was how easy it was on my body—no crashes or weird side effects. I felt more focused, and my midsection started slimming down after a few weeks. Best part? Zero side effects for me.”
- Maria S., 59 – Tampa, FL
“I have a sensitive system, so I’m very cautious with supplements. But Nagano Lean Body Tonic was surprisingly gentle. It didn’t interfere with my digestion or sleep. I’ve lost 8 pounds so far and feel lighter overall—with none of the usual discomfort I’ve had from other products.”
- Daniel K., 47 – Portland, OR
“I’ve been using Nagano Lean Body Tonic for over a month now, and what impressed me most is how clean it feels. No racing heart, no bloating, and no sleep issues—which I usually get with weight loss supplements. It’s been a smooth ride, and I’m already down 10 pounds. Highly recommend it if you’re looking for results without the side effects.”

How Much Does Nagano Lean Body Tonic Cost?

The price details of Nagano Lean Body Tonic as per the weight loss formula’s official website are given below:
- 30-Day Supply: 1 bottle – $69 total ($69 per bottle)
- 90-Day Supply: 3 bottles – $177 total ($59 per bottle)
- 180-Day Supply: 6 bottles – $234 total ($39 per bottle)
Click Here To Buy Nagano Lean Body Tonic From Its Official Website

Where To Order Nagano Lean Body Tonic For The Best Price?

At present, Nagano Lean Body Tonic is available for the best price on its official website. The manufacturer says that you can order the supplement on its official website without any hassles. The supplement isn’t sold by the manufacturer through any third-party websites or stores.

Since Nagano Lean Body Tonic is quite popular, there could be gimmicks of the formula sold by unauthorized sellers which may look similar to the original one but won’t work as effectively. Therefore, to get the original Nagano Lean Body Tonic, we recommend ordering the supplement on its official website only.

Bonuses

With the 3-bottle and 6-bottle package of Nagano Lean Body Tonic, you will receive two free bonuses and they are the following:
- Bonus #1 – Anti-Aging Blueprint: This bonus is an e-book in which you can discover breakthrough methods that can boost your energy levels and make you feel and look younger than your real age.
- Bonus #2 – Sleep The Fat Off: The second bonus is also an e-book that will tell you about a unique meal timing method that is proven to support healthy weight loss in the body.
- Bonus #3 – Energy-Boosting Smoothies: The third bonus is an e-book that consists of recipes for energy-boosting smoothies which will help you stay fuller for a longer period of time.
Does Nagano Lean Body Tonic Have A Money-Back Guarantee?

Nagano Lean Body Tonic is supported by a money-back guarantee that is valid for 180 days from the date of purchase. Therefore, if you don’t receive the expected weight loss results from the supplement, you have the option to get a refund from the manufacturer if you contact the manufacturer within 180 days from the date of purchase.

You can contact the manufacturer of Nagano Lean Body Tonic at support@leanbodytonic.com

Final Verdict On Nagano Lean Body Tonic Reviews

Let’s now conclude this Nagano Lean Body Tonic review by taking a quick look at everything we have analyzed and discussed. Nagano Lean Body Tonic is a natural dietary supplement made to initiate healthy weight loss in the body. The formula works by boosting your body’s metabolism which will burn excess fat in the body for energy production.

Besides weight loss, the supplement also increases energy levels, improving gut health, enhancing skin health, and so on. The supplement is made in an FDA-registered and GMP-certified lab facility in the United States which shows that the supplement is manufactured the right way. It does not contain any kind of harmful substances and works safely without causing any side effects.

The supplement can give you long-lasting results within three to six months of use. Nagano Lean Body Tonic is an affordable supplement that is offered on the official website at reasonable prices. The manufacturer offers three free bonuses with the supplement that can help in improving your overall health.

Furthermore, the supplement is backed by a money-back guarantee which ensures that investing money in the supplement is entirely risk-free. So all in all, Nagano Lean Body Tonic seems to be a supplement that is worth trying out.

Click Here To Purchase Nagano Tonic From Its Official Website (180-day Money-Back Guarantee)

Frequently Asked Questions (FAQs)
- Are there any side effects with Nagano Lean Body Tonic?
Most users experience no side effects. The natural ingredients are gentle, but individual reactions may vary. If discomfort occurs, consult a healthcare professional.
- How long before I see results from Nagano Lean Body Tonic?
Results vary, but many users notice changes within 2-3 weeks. For optimal results, use it consistently for 3-6 months, along with a healthy diet and exercise.
- Can I take Nagano Lean Body Tonic with other supplements or medications?
It’s best to consult a healthcare provider before combining it with other supplements or medications, especially if you are on prescriptions.
- Why are the ingredients in Nagano Lean Body Tonic effective for weight loss?
Ingredients like EGCG and Momordica Charantia boost metabolism and promote fat burning, helping support healthy weight loss.
- Is Nagano Lean Body Tonic safe for long-term use?
Yes, it’s safe for long-term use as it contains natural ingredients, but it’s always good to monitor your body’s response and consult a doctor if needed.

Disclaimer: The statements made regarding Nagano Lean Body Tonic have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease. Results may vary from person to person. Always consult a licensed healthcare provider before starting any new supplement, especially if you have underlying health conditions or are taking prescribed medications.

This content is for informational purposes only and should not be interpreted as medical advice. Some of the links in this article may be affiliate links, which means we may earn a small commission if you choose to purchase through them. Always prioritize guidance from your healthcare professional when making decisions about your health or wellness routine.

Email: support@leanbodytonic.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fc110417-9765-4af1-b923-063fdbb99ca6

https://www.globenewswire.com/NewsRoom/AttachmentNg/5c46d641-61b5-4851-b604-1bc4cbe42bf0

https://www.globenewswire.com/NewsRoom/AttachmentNg/4c5fa20d-58c6-4faf-8189-1aa65b50e0cf

The MIL Network –
May 6, 2025

MIL-OSI: Correction: Director/PDMR Shareholding

Source: GlobeNewswire (MIL-OSI)

Volta Finance Limited (VTA/VTAS)

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

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

*****
Guernsey, 2 May 2025

Pursuant to the announcements made on 5 April 2019 and 26 June 2020 relating to changes to the payment of directors fees, Volta Finance Limited (the “Company” or “Volta”) has purchased 3,307 ordinary shares of no par value in the Company (“Ordinary Shares”) at an average price of €6.18 per share.

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

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

Dagmar Kershaw, Chairman and a PDMR for the purposes of MAR, acquired 1,018 additional Ordinary Shares in the Company. Following the settlement of this transaction, Ms Kershaw will have an interest in 34,903 Ordinary Shares, representing 0.09% of the issued shares of the Company;
Stephen Le Page, Director and a PDMR for the purposes of MAR, acquired 712 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mr Le Page will have an interest in 52,707 Ordinary Shares, representing 0.14% of the issued shares of the Company;
Yedau Ogoundele, Director and a PDMR for the purposes of MAR acquired 712 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mrs Ogoundele will have an interest in 9,007 Ordinary Shares, representing 0.02% of the issued shares of the Company; and
Joanne Peacegood, Director and a PDMR for the purposes of MAR acquired 865 additional Ordinary Shares in the Company. Following the settlement of this transaction, Mrs Peacegood will have an interest in 6,110 Ordinary Shares, representing 0.01% of the issued shares of the Company;

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

Details of the person discharging managerial responsibilities / person closely associated
a) Dagmar Kershaw CHAIRMAN & DIRECTOR	b) Stephen Le Page DIRECTOR			c) Yedau Ogoundele DIRECTOR	d) Joanne Peacegood DIRECTOR
Reason for the notification
a. Position/status			Director
b. Initial notification/Amendment			Initial notification
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a. Name			Volta Finance Limited
b. LEI			2138004N6QDNAZ2V3W80
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a. Description of financial instrument, type of instrument			Ordinary Shares
b. Identification code			GG00B1GHHH78
c. Nature of the transaction			Purchase and allocation of Ordinary Shares relation to the part-payment of Directors’ fees for the quarter ended 30 April 2025.
d. Price(s)			€6.18 per share
e. Volume(s)			Total: 3,307
f. Date of transaction			2 May 2025
g. Place of transaction			On-market – London
Aggregate Purchase Information
a) Dagmar Kershaw Chairman and Director		b) Stephen Le Page Director		c) Yedau Ogoundele Director	d) Joanne Peacegood Director
Aggr. Volume: 1,018 Price: €6.18 per share		Aggr. Volume: 712 Price: €6.18per share		Aggr. Volume: 712 Price: €6.18 per share	Aggr. Volume: 865 Price: €6.18 per share

CONTACTS

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

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

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

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

*****
ABOUT VOLTA FINANCE LIMITED

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

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

*****

ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,800 professionals and €859 billion in assets under management as of the end of June 2024.

*****

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

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

*****

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

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

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

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

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

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

*****

The MIL Network –

May 6, 2025

MIL-OSI: Best Online Casinos Canada | Experts Name 7Bit Casino as the #1 Choice
Source: GlobeNewswire (MIL-OSI)

WINNIPEG, Manitoba, May 06, 2025 (GLOBE NEWSWIRE) — We checked out several crypto casinos in Canada, but most didn’t live up to the hype. The bonuses were weak, the game libraries were limited, and the overall experience felt lacking.

That’s when we took a tip from some of the best local casino players in Canada, who recommended 7Bit Casino, and they were right. The sign-up process was seamless, the welcome bonus was generous, and crypto withdrawals were lightning-fast. With an extensive game selection and smooth performance, 7Bit Casino truly stands out as a top-tier choice for Canadian players.

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Understand the Best Online Casinos Canada: 7Bit

Our team of experts has researched the online casino options available in Canada. 7 Bit Online Casino has been selected after multiple analyses. We have tried and tested multiple online casino options before picking our top one. The features, gaming options, bonuses, promotions, rewards, and robust security measures were considered during the analysis.

7Bit Online Casino: Our Favourite Online Casino in Canada

7Bit Casino is chosen as the leading casino option from the list of the best online casino options in Canada. It can be considered a go-to platform for Canadians interested in the best online casino experience.

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In the selection process of the best online casinos in Canada, we followed a strict set of criteria. These criteria are just to ensure that our recommendations related to the gaming experience are safe, rewarding, and worth enough.

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Conclusion: 7Bit The Best Canadian Online Casino

If you are looking for the best online casino in Canada, then 7Bit online casino could be the right choice for you. As per our analysis, the platform caters to all the major requirements of the gamers. Since the platform is issued under the license of the Government of Curacao, the authenticity of 7Bit is confirmed. Your personal information will be accurately stored.

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Commonly Asked Questions About The Best Online Casinos Canada

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A)   7Bit casino has been identified as the best online casinos Canada based on facts like the variety of games that ensure players with different preferences and styles are addressed. The user-friendly interface with multiple payment options, responsive customer support, and many other features contributes to the value of the casino.

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A)   7Bit is a must-visit online casino for all gamblers who are interested in a reliable, safe, and fun casino. It offers an extensive list of games, great bonus offers, and a player-centric experience.

3 . Does 7Bit Casino Canada accept crypto payments?
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Customer Support

Support is available 24/7 via:
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Email: support@7bit.com

Disclaimer and Affiliate Disclosure

Disclaimer: Gambling online comes with financial risks. Make sure you meet the legal age requirement (19+) in your region and follow local laws. Always engage in responsible gambling and check 7Bit’s official site for the latest terms, as promotions and payment methods may be updated.

General Disclaimer

This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of writing. No warranties are made, and users must verify information before acting.

Casino and Gambling Disclaimer

Online gambling carries risks and isn’t for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

Affiliate Disclosure

This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4279a210-7c59-48a8-8b7e-4137a50005bb

The MIL Network –
May 6, 2025
MIL-OSI: Launch of Atigro AI-ERP CEM for Construction & Engineering Management Companies Expands Atigro’s ERP Transformation Industry Leadership
Source: GlobeNewswire (MIL-OSI)

MCLEAN, Va., May 06, 2025 (GLOBE NEWSWIRE) — Atigro, a proven ERP transformation firm that leverages its modular augmentation capabilities paired with AI-native frameworks, expanded its industry leadership today with the launch of Atigro AI-ERP CEM for construction and engineering management (CEM) companies. Atigro AI-ERP CEM is a set of practical ERP augmentation services and a secure AI toolkit that revitalizes existing ERP assets with modularly augmented functionality paired with strategically layered AI-native frameworks to quickly and effectively provide CEMs with real oversight, control and efficiency in their business operations.

Atigro AI-ERP CEM is tailored to meet the needs of the labor intensive CEM industry, delivering executives new levels of ERP capabilities, specifically the ability to collect granular, contextual data and business processes to lay the foundation for strategically layering on AI capabilities. It flexibly captures, manages and controls a combination of data and contextual changes in business processes CEMs have adopted due to the changing micro-and macro-business environment. This gives them a revitalized asset that can be exploited to gain more control over their operations, address more business opportunities and drive profitability through true advancements in productivity.

“Most “ERP transformations” essentially tear down and rebuild the ERP platforms with new functionality, which is both costly and time consuming. Even worse, they still don’t address one of the biggest issues, revamping ERP systems quickly enough to meet the fast changing business environment. This means the very processes that a company is looking to manage within the ERP platform have likely changed since the customization request was made,” said Ken Fischer, CEO of Atigro, Inc. “At Atigro, our proven methodology of ERP transformation consists of augmenting ERP assets with more granular, contextual data collection and functionality capabilities, in combination with strategic and impactful AI integration. Atigro’s AI-ERP CEM augmentation allows for rapid development and provisioning of new functionality that address dynamically changing business processes. Atigro’s transformation through augmentation quickly revitalizes ERP assets, at lower costs, while significantly increasing our clients’ productivity and ROI.”

CEM IT Challenges
Construction and engineering management companies face some daunting IT challenges. Their projects are diverse so one system typically does not fit all the needs of any given project. This is compounded by the fact that the number of activities CEMs need to carry out intersect with many state, federal and local regulations. The level of IT products and services utilized varies from vendor to vendor, so what they need to track and check can vary greatly from job to job. Most of their IT, and specifically their ERP systems, are off-the-shelf with little customization. Their ERP platforms have been supplemented by physical workarounds, like managers using spreadsheets and other ad hoc means.

Unfortunately, most ERP implementations are too rigid to quickly or effectively adapt to CEMs’ dynamic operations in the necessary timeframe. Usually, pockets of a CEM company’s business operations have been addressed by the ERP integration. Their data storage has been housed in disparate databases, or more commonly, on excel spreadsheets or even paper. Very little contextual data, the business processes employees perform outside of digitized workflow, has been integrated either. This has hindered ROI and hampered the addition of practical and useful ERP advancements.

Atigro AI-ERP CEM – Developed to Meet the Needs of CEMs
CEM companies operate long supply chains, have dispersed assets and personnel and have projects that vary greatly in requirements, size and scope. An ERP is an excellent way to gain control of assets, billing, purchasing, internal assets rental and payroll management, among other key functions.

With its practical data management and application coordination capabilities, paired with AI intelligence integration, Atigro AI-ERP CEM acts as a force multiplier. Atigro augments CEM’s existing ERP assets, mapping them to true business workflows, rationalizing and tying in disparate data sources and strategically interspersing intelligent AI agents. These scalable system enhancements deliver real-time insights, drive efficiencies, improve accountability, clarify reporting and provide construction management and engineering companies with actionable intelligence to exploit previously unrecognized business opportunities.

Atigro AI-ERP CEM has tailored solutions to revitalize, augment and fully integrate with CEM’s ERP platforms, including:
- Asset Management – Streamlines maintenance, optimizes service management, simplifies workflows, and lets companies gain full visibility of assets across their lifecycle.
- Billing Management – Simplifies billing, optimizes processes, and automates tasks; while helping construction management and engineering companies realize accurate usage costs, detailed project billing and precise invoicing.
- Purchasing Management – Optimizes purchase, procurement, and supplier management at every step, while enhancing transparency, control and decision making.
- Internal Asset Rental – Modernizes operations, optimizes asset tracking, automates maintenance and other tasks, and ensures seamless integration.
- Payroll Management – Simplifies personnel hour tracking, vacation tracking, leave requests, shift differentials and allow/allowance approval and tracking to make salary / wage payments and reimbursements fast and accurate.
Atigro AI-ERP CEM Intelligent Agents
ERP systems are supposed to track and mirror a construction and engineering management company’s business operations and requirements. However, for employees across a spectrum of business units, ERPs are often difficult to get answers from because they have very set ways of presenting data. Therefore, getting an answer might require combining data in spreadsheets, looking at records one at a time or having a database administrator research it for them. Additionally, the data reports presented to employees and executives is not provided in a manner that is easy to consume.

Atigro harnesses the power of AI to create tailored AI agents that dynamically interact with people and databases throughout ERP workflows. These intelligent AI agents accept requests from employees and access information from databases and other data sources, solve tasks and provide results in an easy to consume manner. This makes it easier for construction management and engineering companies’ employees to focus on work activities instead of data entry – increasing employee efficiency, satisfaction and retention.

Atigro AI-ERP CEM Security Compliance
Atigro AI-ERP CEM’s toolkit complies with enterprise security and DevSecOps best-practices, can be integrated with Entra-A or Corporate Google Workspace logins and use multiple enterprise-ready databases. It also can be integrated with custom mobile apps. It also contains an AI-friendly event system which makes it easy to research and understand past transactions in the system. All of Atigro AI-ERP CEM’s systems are hosted in a closed environment and do not share information with external services or partners.

Pricing & Availability
Atigro AI-ERP CEM is available today. It is sold as a platform in conjunction with Atigro’s configuration services. Pricing is based on discovery, which begins at $25,000. Interested parties may contact Atigro for additional information.

About Atigro, Inc.
Founded in 2005, Atigro is a proven ERP transformation firm because it leverages its modular augmentation capabilities paired with AI-native frameworks. It allows for rapid development and provisioning of new ERP functionality that meets dynamically changing business processes. Atigro’s proven methodology of ERP transformation consists of augmenting clients’ existing ERP assets with more granular, contextual data collection, fully capturing and integrating business processes, while strategically layering on AI capabilities. Atigro’s transformation through augmentation quickly revitalizes ERP assets, at lower costs, while significantly increasing its clients’ productivity and ROI. For more information, please visit www.atigro.com.

Atigro and Atigro AI-ERP and Atigro AI-ERP CEM are the property of Atigro, Inc. All other names, trademarks and service marks are the property of their respective holders.

Media & Industry Analyst Contact Only:
Ed Schauweker
AVID Public Relations for Atigro
ed@avidpr.com
703.963.5238

The MIL Network –
May 6, 2025
MIL-OSI: 1 in 3 Canadians say down payments are blocking homeownership

Source: GlobeNewswire (MIL-OSI)

TORONTO and MONTREAL, May 06, 2025 (GLOBE NEWSWIRE) — As rent prices outpace inflation and wages lag, one-in-three (32%) Canadians say saving for a down payment is the biggest barrier keeping them out of the housing market, according to a new survey from CPA Canada and BDO Debt Solutions.

Another 30 per cent of Canadians point to the ongoing cost of mortgage payments as their main obstacle to owning a home, while just 10 per cent of respondents say they prefer the flexibility of renting.

With 43 per cent of all respondents reporting the high cost of living as their top financial challenge—and another 14 per cent pointing to paying down debt—many Canadians are struggling to manage day-to-day expenses, let alone save for a home.

“Like sucking the oxygen out of a room, rising housing costs in Canada leave little left for consumers to spend in the overall economy,” says David-Alexandre Brassard, Chief Economist at CPA Canada. “High down payments restrict access to real estate investments and exacerbate wealth inequality, leading to social consequences.”

The financial impact of the housing market is also evident in the growing reliance on credit and shrinking emergency savings, says Nancy Snedden, Licensed Insolvency Trustee and President at BDO Debt Solutions.

“The dream of owning a first home is slipping away for many Canadians. With the cost of living on the rise, saving for a home has become increasingly challenging,” says Snedden. “It’s concerning that only two per cent of non-homeowners in Canada are able to make their emergency fund a financial priority, while many are relying on credit to cover their expenses.”

The results also reveal a clear generational divide: while three quarters (74%) of Canadians aged 55 and older own their homes, that number drops to 63 per cent for those aged 35 to 54, and just 31 per cent for Canadians aged 18 to 34.

“Homeownership is closely tied to financial stability and wealth accumulation,” says Li Zhang, Financial Literacy Leader at CPA Canada. “This is reflected in the behaviour of Canadians: homeowners are more likely to save for retirement and invest, while renters often live paycheque to paycheque. Only four per cent of renters report prioritizing lifestyle spending—most are simply struggling to cover the basics.”

Nearly half of homeowners are focused on savings, compared with just 12 per cent of renters and non-homeowners. In fact, 28 per cent of homeowners say their top financial goal is saving for retirement or long-term investments.

To schedule an interview with one of our spokespeople, please contact media@cpacanada.ca.

Survey methodology

Leger conducted the 2025 Housing Market OMNIbus online survey from Feb. 7 to Feb. 10, 2025, among 1,590 randomly selected Canadians aged 18 and over.

The MIL Network –

May 6, 2025

Exchange	Product Name	Ticker	ISIN	Fee
Euronext Paris and Euronext Amsterdam	21Shares Cronos ETP	CRON	CH1443364232	2.50%