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Category: GlobeNewswire

  • MIL-OSI: Paytronix 2025 Loyalty Report Finds Loyalty Check Sizes Growing, But Not Universally

    Source: GlobeNewswire (MIL-OSI)

    NEWTON, Mass., April 16, 2025 (GLOBE NEWSWIRE) — Paytronix, the leader in guest engagement for restaurants and convenience stores, has published the 2025 Paytronix Loyalty Report, which finds that while loyalty check size is rising across both restaurant concepts and c-stores, flat check sizes are common. The report recommends a combination of AI-enhanced data analytics, qualitative behavior feedback along with gamification, AR and mobile loyalty tools to increase engagement and grow loyalty spend.

    Download the 2025 Paytronix Loyalty Report

    The Paytronix 2025 Loyalty Report explores the forces shaping guest loyalty in 2025. It offers data-backed insights, real-world case studies, and actionable strategies to help restaurant and convenience store brands of all sizes harness the full potential of their loyalty programs.

    While loyalty check size growth is promising, it’s important to understand what this number means. Loyalty check size measures per-visit spend among loyalty members—not overall average order value (AOV). This distinction matters because a growing check size within loyalty programs doesn’t always mean members are spending more than non-loyalty guests or that programs are driving net-new profitability. 

    Loyalty check sizes are growing, but not universally – 50% of FSRs, 44% of QSRs, and 31% of c-stores saw loyalty check sizes rise by more than 10% year-over-year. 

    Some brands saw declines – 12–25% of brands, across segments, saw declines in loyalty checks, which indicates that without good strategy, check size can stagnate or shrink, even as membership grows. 

    Flat check sizes are common – Around a quarter of QSR and FSR brands saw little movement, clarifying loyalty alone isn’t enough to grow spend. 

    The report finds that AI-powered personalization, smart upsells, and relevant offers are key to increasing both loyalty check sizes and visit frequency, and ensures that loyalty program participation turns into revenue.

    The report also discusses the following trends in data analytics and solutions that can provide brands with new opportunities to segment guests and further personalize guest interactions based on their behaviors.

    It recommends the following three drivers for better personalization, which, in turn, helps programs align offers with guest preferences and deliver high-quality, thoughtful dining experiences.

    AI-enhanced data analytics are a loyalty program game-changer that makes getting to the crux of customer motivations both quicker and more accurate. Smart brands are deploying it to explore different demographics, whether B2B, B2C, generational, or lifestyle-based, to create new opportunities.

    Qualitative behavior feedback is software dedicated to scanning guest reviews across social media and analyzing voice/text messages, using sentiment analysis algorithms to read between the lines. It goes beyond spoken or written words to read the emotions behind them, indicating whether a guest was frustrated, angry, severely stressed, friendly, or enthusiastic.

    “It is obvious that today more and more brands are becoming increasingly focused on one-to-one messaging and how to be as granular as possible when segmenting their audiences. It is so crucial for success, specifically when trying to increase the likelihood of visitation in the early parts of your relationship with a new customer,” said Rachel Peterson, loyalty strategist, Paytronix. “Personalization is key to impacting behaviors and determining who is more likely to visit versus someone who is unlikely to open your doors again. The more information you have, the more targeted you can be with your messaging and offers that get them to convert again, and again.”

    About Paytronix
    Paytronix, an Access Group company, is a cloud-based digital guest engagement platform for the hospitality industry. Our innovative, unified platform provides loyalty programs, online ordering, gift cards, branded mobile applications, and strategic insights to more than 1,800 leading restaurant and convenience store brands. Our valued clients leverage the power of Paytronix across 50,000 sites globally to create seamless, personalized, and brand-authentic experiences that foster lasting relationships with their customers. For more than 20 years, Paytronix has been a trusted partner helping brands maximize the lifetime value of their guests and grow more profitable businesses. For more information, visit www.paytronix.com.

    Media Contact:
    Calen McGee
    Paytronix Systems, Inc.
    Calen.McGee@theaccessgroup.com

    The MIL Network –

  • MIL-OSI: Vorlon’s DataMatrix™ Cracks Open ‘Black Box’ of SaaS Ecosystem Security to Eliminate Blind Spots

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 16, 2025 (GLOBE NEWSWIRE) — For the first time, Vorlon is enabling security teams to crack open the opaque “black box” of SaaS security with the introduction of its patent-pending DataMatrix™. The technology breakthrough fills the API security logging gaps present in more than 50% of SaaS apps and gives security teams the visibility and tools needed to protect the entire interconnected SaaS ecosystem.

    Vorlon will be at RSAC 2025, demonstrating DataMatrix™ and its SaaS ecosystem security platform at Booth #ESE-66 in the Early Stage Expo Hall.

    Existing solutions don’t solve the problem

    Today’s SaaS security is broken, not just due to misconfigurations but also because security teams cannot see data flowing through APIs, SaaS human and non-human identities, and third-party services. Akamai estimates that app-to-app data flows already represent 83% of internet traffic.

    Yet, these webs of API-enabled connections are unmonitored and leave blind spots that attackers are increasingly exploiting, leading to a 68% yearly growth rate in third-party breaches (Verizon DBIR). Furthermore, this complex attack surface is expanding rapidly due to the distributed nature of modern applications, no-code integrations, and AI-driven automation.

    “Vorlon gives me a visualization of our SaaS ecosystem,” said Anthony Lee-Masis, CISO and Vice President of IT at ThoughtSpot. “With Vorlon, I can click into one of my SaaS apps and see all the other apps, services, and secrets connecting to it, and where the data is going. I’ve got the full context, and in the security world, context is king.”

    Vorlon’s research into top SaaS apps shows more than 50% of SaaS apps fail at meeting basic logging requirements because of the lack of maturity, consistency, and availability of SaaS API audit logs. Other red-flag findings were:

    • 30% lacked full API logging, meaning security teams would have no record of certain API-based activity
    • 40% failed to distinguish between human and machine-based activity, creating a major attribution challenge for security teams
    • Nearly 50% required additional licensing or manual support requests to access security logs

    In addition, existing security approaches, such as SaaS Security Posture Management (SSPM) or Non-Human Identity (NHI) security tools, only solve half the problem.

    • SSPM helps enforce access policies and reduce misconfiguration risks, but lacks real-time detection and response capabilities, especially when it comes to issues unrelated to configurations, such as traffic volume anomalies, dormant secrets, multi-use secrets, sensitive data access, and more.
    • NHI tools help track API keys, but do not provide the SaaS-wide visibility and context needed to prioritize risk and detect active threats.

    The bottom line is that these tools fail to provide the context needed to detect and respond to threats in this highly interconnected environment.

    Introducing Vorlon’s SaaS ecosystem security platform  

    In sharp contrast, Vorlon unifies SSPM, NHI security, data flow visibility, and detection and response into a single platform, providing the context to detect, investigate, and respond to real threats across modern SaaS ecosystems.

    “SaaS security is more than managing configurations or tracking API keys. It is about understanding how applications, integrations, sensitive data, and identities interact in real time to create a baseline, monitor suspicious activity, and prioritize risk,” said Amir Khayat, CEO and co-founder of Vorlon.

    “Today, security teams are missing this critical SaaS forensic data, making it difficult to detect, investigate, and respond to SaaS-based threats. This results in greater cybersecurity risks for enterprises, as it limits their ability to preemptively stop breaches and slows down the response to incidents when they occur. Vorlon closes these gaps to protect the entire SaaS ecosystem.”

    According to Gartner®, “Software as a service ecosystem security encompasses a comprehensive set of security controls and safeguards to secure the SaaS environment of an enterprise. Similar to multicloud protection providers, these solutions are multi-SaaS protection offerings. They support the ability to perform detection and response and respond to security incidents in real time with multi-SaaS alert ingestion and application visibility into shadow IT and user usage of applications. These security measures are essential for protecting sensitive data and ensuring the availability and integrity of that data within SaaS.”1

    SaaS security has long been constrained by a fragmented approach, in which individual applications are treated as isolated security challenges rather than part of an interconnected whole.

    Vorlon’s innovative approach secures the SaaS ecosystem as it really exists — one entire, interconnected attack surface. The company combines a unique set of capabilities in a single platform that examines what talks to what and how sensitive data flows across this complicated web of connections.

    To achieve this, Vorlon first eliminates the gaps in SaaS API monitoring. It captures API traffic from the environment’s SaaS apps, including third-party SaaS and mission-critical custom applications that are often deeply integrated into the broader SaaS ecosystem. It then enriches the raw data with intelligence gleaned from each SaaS vendor’s API docs and proprietary research.

    Addition of powerful DataMatrix™ engine provides single solution

    Using this information, the new DataMatrix™ technology generates an algorithmic model of the entire SaaS ecosystem. This “digital twin” comprises an out-of-band model, updated in near real time, which can now monitor sensitive data flows, detect anomalies and policy drift, and provide the context necessary for faster, AI-driven incident remediations.

    Vorlon’s SaaS ecosystem security platform, with its powerful DataMatrix™ engine, unifies SSPM and NHI security, data flow visibility and detection and response into a single solution, providing security teams with the context necessary to detect, investigate and respond to real threats across modern SaaS ecosystems. For the first time, teams can use a single solution that:

    • Provides comprehensive API visibility: Examines in depth how app-to-app data, identities, and secrets move between SaaS, internal applications, and connected services
    • Delivers real-time detection and response: Alerts on active threats in near real time; provides remediation steps that integrate with existing workflows in SIEM, SOAR, and ITSM tools
    • Correlates posture misconfigurations, secrets, API activity, and sensitive data flows: Alerts when the same secret is used across multiple SaaS applications, identifies active data exfiltration attempts, and revokes the key in two clicks before damage is done
    • Provides full context for security investigations: Shows what identities are doing, what data they can access, and whether the access is being misused

    Use cases for Vorlon’s SaaS ecosystem security platform include:

    • Breach Response: Assess the impact and recover from a third-party app breach
    • Third-Party Risk Management: Add real-time monitoring to cyber TPRM programs
    • NHI Security: Manage secrets and respond to suspicious behavior
    • SaaS Security: Provide visibility into APIs, risky misconfigurations, sensitive data flows, and suspicious behavior
    • Compliance: Audit-ready reports for PCI and data privacy mandates

    ​​​Schedule a meeting with Vorlon at RSA Conference 2025.

    Learn more about how Vorlon and DataMatrix provide proactive SaaS security online or schedule a demo now.

    Gartner, Emerging Tech: SaaS Ecosystem Security Products Transform SaaS Security, By Lawrence Pingree, Mark Wah, 19 July 2024.1 GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

    About Vorlon
    SaaS moves fast—Vorlon’s SaaS ecosystem security platform gives enterprises the context to move faster. By combining data flow visibility, posture and secrets management, and detection and response, Vorlon helps you see what’s connected, what’s at risk, and what to do next. With its agentless, patent-pending DataMatrix™ technology, Vorlon builds a live model of your SaaS environment to power fast, AI-driven remediation. Backed by Accel and SOC 2 Type 2 Certified, Vorlon is trusted by Fortune 500 companies to secure what others miss: the interactions between apps, identities, and data that power modern business. Learn more at vorlon.io.

    Media Contact:
    Montner Tech PR Deb Montner
    dmontner@montner.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ab69bd5-fe1f-4344-9078-b035007c7ff8

    The MIL Network –

  • MIL-OSI: Fortinet Releases its 2024 Sustainability Report

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., April 16, 2025 (GLOBE NEWSWIRE) — News Summary

    Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today released its 2024 Sustainability Report, outlining the company’s approach, key commitments, and progress on the sustainability topics that matter most to the company and its stakeholders.

    “As digital transformation accelerates, cybersecurity is more critical than ever to safeguarding businesses, the global economy and society at large,” said Michael Xie, Founder, President and CTO at Fortinet. “Fortinet is committed to having our products, services, and people contribute to building a more secure and sustainable society–from improving the environmental impact of our products through energy efficiency and more sustainable packaging, to our commitment to closing the cybersecurity skills gap by training 1 million individuals by 2026. We are proud of the progress we’ve made and remain committed to integrating sustainability across all aspects of our operations.”

    As cybersecurity continues to play a leading role in enabling a sustainable digital future, Fortinet remains committed to protecting people, businesses, and communities worldwide while operating responsibly and minimizing its environmental footprint.

    Highlights from the Fortinet 2024 Sustainability Report include:

    • Driving innovation and responsible technology to secure the digital world: With nearly 1,400 patents issued and more than 450 pending, Fortinet continues to pioneer AI-powered security solutions, collaborating with organizations such as University of California (UC) Berkeley, the World Economic Forum, and the Cybersecurity and Infrastructure Security Agency (CISA) to advance AI use in cybersecurity. In 2024, Fortinet also became one of the early signatory of CISA’s Secure by Design pledge, reinforcing its commitment to security at every stage of the product lifecycle.
    • Strengthening global efforts to combat cybercrime: In 2024, Fortinet deepened its engagement with numerous global organizations dedicated to halting cybercrime, supporting major initiatives such as INTERPOL’s Operation Serengeti and the World Economic Forum Cybercrime Atlas Project. These collaborative efforts in 2024 contributed to over 1,000 arrests, the dismantling of 134,000+ malicious networks, and the recovering of $44 million USD.
    • Accelerating climate action with near-term, science-based targets: In 2024, Fortinet’s near-term greenhouse gas emissions reduction targets were validated by the Science Based Targets initiative. These climate near-term targets include scopes 1 and 2 emissions, aligned with a 1.5°C trajectory to limit global warming, as well as scope 3 targets focused on supplier and customer engagement to drive emission reductions across the value chain.
    • Improving product energy efficiency and sustainable packaging: In 2024, Fortinet introduced new FortiGate models that are, on average, 61% more energy efficient than previous generations. Additionally, the company expanded its efforts to minimize environmental impact by launching 22 FSC-certified packaging models, prioritizing plastic-free packaging across 86 top-selling products, and avoiding 387 metric tons of CO2e emissions, including 77 metric tons of plastic reduction.
    • Addressing the cybersecurity skills gap and expanding access to education: Since 2022, Fortinet has trained more than 630,000 individuals in cybersecurity through the Fortinet Training Institute initiatives. In 2024, Fortinet joined the European Commission’s Cybersecurity Skills Academy, committing to train 75,000 people in the EU by 2027. Fortinet also contributed to the World Economic Forum’s 2024 Strategic Cybersecurity Talent Framework, helping to shape global best practices for sustainable cybersecurity talent development.
    • Upholding strong business ethics and information security practices: In 2024, 100% of Fortinet’s top contract manufacturers (covering 90% of spend) and distributors completed business ethics and compliance training. Fortinet expanded its ISO 27001/17/18 certifications and its SOC2 Type II examinations, achieving 81 information security certifications and examinations strengthening data protection and privacy measures.

    Industry Recognition for Responsible Business Practices
    Fortinet’s continued progress in sustainability and responsible business practices has been recognized through multiple industry accolades, including:

    • Inclusion in the 2024 Dow Jones Best-in-Class World and North America Indices for the third consecutive year, reflecting its leadership in corporate responsibility.
    • An improved CDP Climate Change rating, moving from a B- to a B score, reflecting strengthened climate action and transparency.
    • Recognition as a 2024 “Best Company to Work For” by Glassdoor and a “Great Place to Work,” underscoring Fortinet’s commitment to fostering a workplace where everyone can thrive.
    • Recognized as No. 7 on Forbes’ Most Trusted Companies in America 2025 list—and the most trusted U.S.-based cybersecurity company.

    Fortinet’s 2024 Sustainability Report references the Task Force on Climate-related Financial Disclosures (TCFD), the Global Reporting Initiative (GRI) Standards, Sustainability Accountability Standards Board (SASB) Standards and the United Nations Sustainable Development Goals (UN SDGs). The report details Fortinet’s progress and metrics across the following eight priority issues: innovation and responsible technology; cybercrime disruption; climate change; product environmental impacts; inclusion and belonging; cybersecurity skills gap; business ethics; and information security and data privacy.

    Additional Resources

    About Fortinet
    Fortinet (Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams (“CERTS”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.

    Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.

    Media Contact: Investor Contact: Analyst Contact:
    Stephanie Lira
    Fortinet, Inc.
    408-235-7700
    pr@fortinet.com     		 Aaron Ovadia
    Fortinet, Inc.
    408-235-7700
    investors@fortinet.com    		 Brian Greenberg
    Fortinet, Inc.
    408-235-7700
    analystrelations@fortinet.com

    The MIL Network –

  • MIL-OSI: FFB Bancorp Announces First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    FRESNO, Calif., April 16, 2025 (GLOBE NEWSWIRE) — FFB Bancorp (the “Company”) (OTCQX: FFBB), the parent company of FFB Bank (the “Bank”), today reported net income of $8.10 million, or $2.55 per diluted share, for the first quarter of 2025, an increase of 4% from the $7.79 million, or $2.46 per diluted share, reported for the first quarter of 2024. The Bank reported $9.72 million, or $3.05 per diluted share, for the fourth quarter of 2024. All results are unaudited.

    First Quarter 2025 Highlights: As of, or for the quarter ended March 31, 2025, compared to the quarter ended March 31, 2024:

    • Pre-tax, pre-provision income increased 10% to $12.01 million.
    • Net income increased 4% to $8.10 million.
    • Return on average equity (“ROAE”) was 18.83%.
    • Return on average assets (“ROAA”) was 2.14%.
    • Net interest margin expanded 20 basis points to 5.35% from 5.15%.
    • Operating revenue (net interest income, before the provision for credit losses, plus non-interest income) increased 21% to $28.48 million.
    • Total assets increased 12% to $1.56 billion.
    • Total portfolio of loans increased 18% to $1.09 billion.
    • Total deposits increased 10% to $1.32 billion.
    • Shareholder equity increased 26% to $174.71 million.
    • Book value per common share increased 27% to $55.52.
    • The Company’s tangible common equity ratio was 11.20%, while the Bank’s regulatory leverage capital ratio was 14.66%, and the total risk-based capital ratio was 21.09% at March 31, 2025.

    “In spite of the general market headwinds, and the constant noise surrounding potential policy changes, our first quarter 2025 results still came in quite strong because the team was able to stay focused on the basics,” said Steve Miller, President & CEO. “The loan portfolio increased $21 million, deposits grew $36 million, and total assets grew $56 million. In addition, we were able to record strong earnings while improving our book value per common share through our strategic share repurchase program.”

    “During the quarter we have made consistent progress on the matters outlined in our consent order, although ultimate compliance will be determined by our regulators. The team has been diligent in working with our regulators to complete the necessary steps to meet consent order timelines. We have confidence we can continue to address these items going forward.”

    Linda Emtman and Miles Mahoney Join Board of Directors of FFB Bancorp and FFB Bank:

    Linda Emtman and Miles Mahoney have been appointed to the Board of Directors for the Company and Bank, expanding the number of directors for both boards to 11 from 9.

    Ms. Emtman was a Principal in Financial Services at Ernst & Young in San Francisco until her retirement. She is on the executive leadership team of the American Heart Association, and an Ambassador at the Bay Area Cor Vitae Society. Ms. Emtman is a graduate of the University of Washington where she earned her bachelor’s degree in Business Administration and completed her Master Deal Maker certification at the Wharton School.

    Mr. Mahoney is the President of U2 Science Labs, Inc, an advanced analytics and data science platform, in Orange County and the Founder and Managing Partner of Irish Acquisitions, Inc. He has served as a board member of a number of different organizations over a 15-year period. Mr. Mahoney is a graduate of Montana State University where he earned his bachelor’s degree in Business Administration & Finance and completed his MBA at the Pepperdine Graziadio School of Business.

    “We are delighted to welcome Linda and Miles to our Company’s Board of Directors and look forward to working with them as we pursue our mission to grow our franchise. They bring a wealth of experience and a broad depth of knowledge that will help propel us forward for future success,” said Mark Saleh, Chairman of the Boards. “Recently, one of our founding board members, Al Smith, passed away. He was instrumental in the early development of our brand. His commitment to the bank and creative ideas will be missed.”

    Update on Stock Repurchase Program:

    On January 22, 2025, the Company announced that it had authorized a plan to utilize up to $15.0 million of capital to repurchase shares of the Company’s common stock. As of March 31, 2025, the Company has repurchased 41,915 shares, at an average price of $81.60, totaling $3.42 million. This represents approximately 1.78% of total shareholders’ equity at March 31, 2025.

    Under the terms of the repurchase plan, the Company may repurchase shares of the Company’s common stock from time to time, through December 31, 2025, in open market purchases or privately negotiated transactions. Repurchases under the plan may also be made pursuant to a trading plan under Securities and Exchange Commission Rule 10b5-1 under the Securities Exchange Act of 1934, which would permit shares to be repurchased by the Company when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The timing, manner, price and exact amount of any repurchases by the Company will be determined at the Company’s discretion and depend on various factors including the performance of the Company’s stock price, general market and economic conditions, applicable legal and regulatory requirements, availability of funds, and other relevant factors. Through December 31, 2025, the repurchase plan may be discontinued, suspended or restarted at any time.

    Results of Operations

    Quarter ended March 31, 2025:

    Operating revenue, consisting of net interest income before the provision for credit losses and non-interest income, increased 21% to $28.48 million for the first quarter of 2025, compared to $23.61 million for the first quarter a year ago, and increased 1% from $28.25 million from the fourth quarter of 2024.

    Net interest income, before the provision for credit losses, increased 17% to $18.90 million for the first quarter of 2025, compared to $16.14 million for the same quarter a year ago, and remained consistent with the $18.81 million reported last quarter. “The increase in net interest income compared to prior year was primarily driven by loan portfolio growth,” said Bhavneet Gill, Chief Financial Officer. “We have also seen some relief in funding costs as a result of the FOMC rate cuts from the second half of 2024.”

    The Company’s net interest margin (“NIM”) increased by 20 basis points to 5.35% for the first quarter of 2025, compared to 5.15% for the first quarter of 2024, and increased 11 basis points from 5.24% for the preceding quarter. “Our yield on earning assets increased 8 basis points in the first quarter primarily from changes within the loan portfolio. Additionally, the expansion of NIM was buoyed by a 4 basis point decrease in the cost to fund earning assets as average non-interest bearing deposits increased $11.68 million quarter-over-quarter,” noted Gill.

    The yield on earning assets was 6.31% for the first quarter of 2025, compared to 6.15% for the first quarter a year ago, and 6.24% for the previous quarter. The cost to fund earning assets decreased to 0.96% for the first quarter of 2025 compared to 1.00% for the previous quarter, and 1.00% for the same quarter a year earlier.

    Total non-interest income was $9.58 million for the first quarter of 2025, compared to $7.47 million for the first quarter of 2024, and $9.44 million for the previous quarter. The increase in non-interest income, from the first quarter of 2024, was driven by higher merchant services revenue and a reduction in loss on sale of investments, partially offset by lower gain on sale of loans revenue. The quarter-over-quarter increase in non-interest income was attributed to higher merchant services revenue due to seasonal activity, partially offset by a reduction in the gain on sale of loans revenue.

    Merchant services revenue increased 30% to $7.86 million for the first quarter of 2025, compared to $6.07 million from the first quarter of 2024. The increase was primarily due to higher volume across all merchant business lines and higher gross revenue related to FFB Payments. Merchant services revenue increased from $7.56 million when compared to the fourth quarter of 2024 as a result of an increase in processing volume during the quarter, primarily due to seasonal activity. First quarter 2025 ISO Partner Sponsorship volumes include $2.78 billion in volume for the ISO partners being exited in the second quarter of 2025. First quarter 2025 ISO Partner Sponsorship revenue includes $990,000 in revenue from the ISO partners being exited in the second quarter of 2025. “These ISO exits were the right decision to help ensure we are aligned with our partners in regard to best in class oversight. We anticipate replacing this volume and revenue through growth in FFB Payments and with our remaining ISO partners as we move forward,” said Miller.

    Merchant ISO Processing Volumes (in thousands)
    Source Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
    ISO Partner Sponsorship $ 5,007,998   $ 4,891,643   $ 4,556,868   $ 4,391,365   $ 3,763,289  
    FFB Payments- Sub-ISO Merchants   21,551     22,950     24,661     24,414     19,370  
    FFB Payments – Direct Merchants   97,095     91,133     64,512     76,059     77,349  
    Total volume $ 5,126,644   $ 5,005,726   $ 4,646,041   $ 4,491,838   $ 3,860,008  
    Merchant ISO Processing Revenues (in thousands)
    Source of Revenue Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
    Net Revenue*:          
    ISO Partner Sponsorship $ 2,410   $ 2,535   $ 2,284   $ 2,156   $ 2,183  
               
    Gross Revenue:          
    FFB Payments- Sub-ISO Merchants   745     764     810     795     672  
    FFB Payments – Direct Merchants   4,709     4,262     2,476     3,117     3,213  
        5,454     5,026     3,286     3,912     3,885  
    Gross Expense:          
    FFB Payments- Sub-ISO Merchants   616     638     723     675     518  
    FFB Payments – Direct Merchants   2,558     2,511     1,766     1,989     1,842  
        3,174     3,149     2,489     2,664     2,360  
    Net Revenue:          
    FFB Payments- Sub-ISO Merchants   129     126     87     120     154  
    FFB Payments – Direct Merchants   2,151     1,751     710     1,128     1,371  
    FFB Payments Net Revenue   2,280     1,877     797     1,248     1,525  
    Net Merchant Services Income: $ 4,690   $ 4,412   $ 3,081   $ 3,404   $ 3,708  
     
    *ISO Partnership Sponsorship is recognized net of expense in Merchant Services Income. FFB Payments revenues are recognized gross in Merchant Services Income and Merchant Services expenses are recognized in Non-Interest Expense.
     

    Total deposit fee income increased 7% to $849,000 for the first quarter of 2025, compared to $796,000 for the first quarter of 2024, and decreased 1% from $856,000 for the previous quarter.

    There was a $261,000 gain on sale of loans during the first quarter of 2025, compared to a gain on sale of loans of $451,000 during the first quarter 2024, and a gain on sale of loans of $929,000 in the previous quarter. There was no loss on sale of investments during the first quarter of 2025, compared to a $373,000 loss during the first quarter of 2024, and a $482,000 loss in the previous quarter.

    Non-interest expense increased 30% to $16.47 million for the first quarter of 2025, compared to $12.70 million for the first quarter 2024, and increased 24% from $13.27 million from the previous quarter. The increases on a year-over-year and quarterly comparison were driven by increases in salaries and employee benefits expense.

    Salaries and employee benefits increased 22% to $8.06 million for the first quarter of 2025, compared to $6.58 million for the first quarter 2024. Total salaries and employee benefits increased 56% from $5.18 million in the previous quarter. The quarterly increase in salaries and employee benefits expense is partially attributed to $1.96 million in non-recurring reductions to performance bonus and ESOP accruals recognized in the fourth quarter of 2024. The balance of the increase was primarily the result of expense associated with full-time employees hired in the fourth quarter of 2024 and the first quarter of 2025. Full-time employees increased to 175 at March 31, 2025, compared to 147 full-time employees a year earlier, and 168 full-time employees from the previous quarter.

    “Over the last few quarters, we’ve made intentional investments in people and technology to ensure that the bank can efficiently scale moving forward, and specifically to support our payment ecosystem, product development, regional expansion, and compliance/risk management initiatives. We continue to see elevated legal, audit, and technology related expenses mostly related to addressing the Consent Order,” said Miller.

    Occupancy and equipment expenses decreased 8% from a year ago, representing 2% of non-interest expense, and decreased 14% from the preceding quarter. Merchant operating expense totaled $3.17 million for the first quarter of 2025, compared to $2.36 million for the first quarter of 2024 and $3.15 million for the preceding quarter. The change in merchant operating expense is attributed to fluctuations in volume and revenue for the FFB Payments lines of business. Merchant operating expenses include interchange fees, chargebacks, partnership fees, and other card brand fees.

    Other operating expense increased 45% or $1.51 million to $4.88 million from a year earlier and increased 8% or $351,000 from the previous quarter. The year-over-year increase was driven by increases of $252,000 in data and software related expense, $355,000 in professional fees, $262,000 in marketing expense, $111,000 in regulatory assessment expense, and $321,000 in operational losses. The increase in data and software expense and professional fees, which include legal, audit, and consulting fees, are primarily due to actions taken to enhance the Company’s AML/CFT, compliance, and merchant services programs.

    The efficiency ratio was 57.83% for the first quarter of 2025, compared to 52.96% for the same quarter a year ago, and 46.19% for the preceding quarter. The efficiency ratio can fluctuate period over period based on changes in merchant services’ gross revenues and associated expenses. The Company also calculates an adjusted efficiency ratio where the merchant services’ gross expense, which is included in non-interest expense, is netted against merchant services’ revenue in non-interest income. The adjusted efficiency ratio was 52.54% for the first quarter of 2025, compared to 47.82% for the same quarter a year ago, and 39.57% for the previous quarter.

    Balance Sheet Review

    Total assets increased 12% to $1.56 billion at March 31, 2025, compared to $1.40 billion at March 31, 2024, and increased 4% compared to December 31, 2024.

    The total portfolio of loans increased 18%, or $165.66 million, to $1.09 billion, compared to $926.78 million at March 31, 2024, and increased $21.36 million, from $1.07 billion at December 31, 2024.

    Commercial real estate loans increased 28% year-over-year to $696.63 million, representing 64% of total loans at March 31, 2025. The CRE portfolio includes approximately $282.54 million in multi-family loans originated by the Southern California team that the Company may consider selling at some point in the future for liquidity and concentration management. The multi-family portfolio includes $84.52 million in short-term bridge loans for transitional projects of multi-family properties. The short-term bridge loans are conservatively underwritten with minimum DSCR and liquidity requirements. The bank continues to market our bridge loan product in a more measured approach, keeping to our conservative underwriting standards. The real estate construction and land development loan portfolio decreased 84% from a year ago to $12.65 million, representing 1% of total loans, while residential RE 1-4 family loans totaled $17.15 million, or 2% of loans, at March 31, 2025.

    The commercial and industrial (C&I) portfolio increased 16% to $260.06 million, at March 31, 2025, compared to $224.55 million a year earlier, and decreased 3% from $267.95 million at December 31, 2024. C&I loans represented 24% of total loans at March 31, 2025. Agriculture loans represented 10% of the loan portfolio at March 31, 2025. At March 31, 2025, the SBA, USDA, and other government agencies guaranteed loans totaled $61.37 million, or 5.6% of the loan portfolio.

    Investment securities totaled $313.83 million at March 31, 2025, compared to $328.91 million a year earlier, and decreased $8.36 million from $322.19 million at December 31, 2024. The investment portfolio consists of mortgage-backed and municipal securities, both tax exempt and taxable, treasury securities as well as other domestic debt. At March 31, 2025, the Company had a net unrealized loss position on its investment securities portfolio of $24.50 million, compared to a net unrealized loss of $25.89 million at December 31, 2024. The Company’s investment securities portfolio had an effective duration of 5.61 years at March 31, 2025, compared to 5.32 years at December 31, 2024.

    Total deposits increased 10%, or $119.85 million, to $1.32 billion at March 31, 2025, compared to $1.20 billion from a year earlier, and increased $36.00 million from $1.28 billion at December 31, 2024. The quarter-over-quarter increase in deposit balances is primarily attributed to an increase in interest bearing checking accounts. Non-interest bearing demand deposits increased 10% to $825.40 million at March 31, 2025, compared to $751.64 million at March 31, 2024, and decreased $3.10 million from $828.51 million at December 31, 2024. Non-interest bearing demand deposits represented 63% of total deposits at March 31, 2025.

    Included in non-interest bearing deposits are $89.98 million from ISO partners for merchant reserves, $135.48 million from ISO partners for settlement, and $9.63 million in ISO partner operating accounts. These deposits represent 28.5% of non-interest bearing deposits and 17.8% of total deposits. Included in the $235.09 million in ISO partner deposits as of March 31, 2025 are $137.82 million in deposits for ISO partners being exited in the second quarter of 2025. The Bank plans to replace these non-interest bearing deposits with growth from new Bank customers in its markets and from the existing ISO partners it will continue to support. In the short-term, the new deposit growth will likely be made up of a higher percentage of interest bearing deposits.

    There was $10.00 million in short-term borrowings at March 31, 2025, compared to no borrowings at December 31, 2024, or March 31, 2024. The Company primarily utilizes FHLB advances and the Federal Reserve discount window for short-term borrowings. The following table summarizes the Company’s primary and secondary sources of liquidity which were available at March 31, 2025:

    Liquidity Source (in thousands) March 31, 2025 December 31, 2024
         
    Cash and cash equivalents $ 103,071   $ 63,415  
    Unpledged investment securities, fair value   104,732     118,957  
    FHLB advance capacity   338,036     304,077  
                 
    Federal Reserve discount window capacity   130,590     166,475  
    Correspondent bank unsecured lines of credit   70,000     91,500  
      $ 746,429   $ 744,424  
     

    The total primary and secondary liquidity of $746.43 million at March 31, 2025 represents an increase of $2.0 million in primary and secondary liquidity quarter-over-quarter. On-balance sheet cash and cash equivalents increased as a result of deposit growth in the quarter.

    Shareholders’ equity increased 26% to $174.71 million at March 31, 2025, compared to $138.72 million from a year ago, and grew 4% from $168.39 million at December 31, 2024. Book value per common share increased 27% to $55.52, at March 31, 2025, compared to $43.69 at March 31, 2024, and increased 5% from $53.02 at December 31, 2024. The tangible common equity ratio was 11.20% at March 31, 2025, compared to 9.94% a year earlier, and 11.20% at December 31, 2024. Additionally, book value improved as a result of quarterly net income and a reduction in shares outstanding.

    At the Bank level, unrealized losses and gains reflected in AOCI are not included in regulatory capital. As a result, Tier-1 capital at the Bank for regulatory purposes was $226.64 million at quarter end excluding the unrealized loss. The regulatory leverage capital ratio was 14.66% for the current quarter, while the total risk-based capital ratio was 21.09%, exceeding regulatory minimums to be considered well-capitalized.

    Asset Quality

    Nonperforming assets increased to $15.37 million, or 0.98% of total assets, at March 31, 2025, compared to $9.89 million, or 0.66% of total assets, from the preceding quarter. Of the $15.37 million nonperforming loans, $11.37 million are covered by SBA guarantees. Total delinquent loans increased to $19.12 million at March 31, 2025, compared to $8.32 million at December 31, 2024.

    Past due loans 30-60 days were $17.53 million at March 31, 2025, compared to $4.89 million at December 31, 2024, and $3.22 million at March 31, 2024. This increase in 30-60 days past due loans is the result of three multi-family loans, which are real estate secured, totaling $11.55 million to a related group of borrowers. There were $1.54 million past due loans from 60-90 days at March 31, 2025, compared to $2.45 million at December 31, 2024 and $1.95 million in past due loans from 60-90 days a year earlier. Past due loans 90+ days at quarter end totaled $46,000 at March 31, 2025, compared to $1.33 million, at March 31, 2024. Of the $19.12 million in past due loans at March 31, 2025, $2.75 million were purchased government guaranteed loans, which are guaranteed by the SBA for the full payment of the principal plus interest.

    Delinquent Loan Summary Organic Purchased Govt.
    Guaranteed    		 Total
    (in thousands)
           
    Delinquent accruing loans 30-59 days $ 16,147   $ 1,386   $ 17,533  
    Delinquent accruing loans 60-89 days   218     1,319     1,537  
    Delinquent accruing loans 90+ days   —     46     46  
    Total delinquent accruing loans $ 16,365   $ 2,751   $ 19,116  
           
    Non-Accrual Loan Summary Organic Purchased Govt.
    Guaranteed    		 Total
    (in thousands)
           
    Loans on non-accrual $ 15,366   $ —   $ 15,366  
    Non-accrual loans with SBA guarantees   11,371     —     11,371  
    Net Bank exposure to non-accrual loans $ 3,995   $ —   $ 3,995  
     

    There was a $1.16 million provision for credit losses in the first quarter of 2025, compared to $378,000 provision for credit losses in the first quarter a year ago, and a $1.67 million provision for credit losses booked in the fourth quarter of 2024. The provision recorded during the first quarter of 2025 is the result of loan portfolio growth and a $5.47 million increase in non-accrual loans which were individually evaluated in the allowance for credit losses. The increase in non-accrual loans was primarily related to SBA loans.

    “We watch the SBA portfolio very closely since rates have increased so rapidly over the last two years, putting pressure on borrowers. A majority of the loans within the portfolio are floating rate loans tied to WSJ Prime and reset quarterly. Borrowers saw a 50bps reduction in their rates on January 1, 2025 and additional rate relief is expected during the second half of 2025,” added Miller. “The ratio of allowance for credit losses to the total, non-guaranteed, loan portfolio was 1.25%, as of March 31, 2025, and our total non-guaranteed exposure on these SBA loans is $42.80 million spread over 222 loans.”

    “We incurred net charge offs of $167,000 during the current quarter, compared to $4,000 in net recoveries in the first quarter a year ago, and $1.29 million in net charge offs in the previous quarter,” said Miller. “Our loan portfolio increased 18% from a year ago with commercial real estate (“CRE”) loans representing 64% of the total loan portfolio. Within the CRE portfolio, there are $52.45 million in loans for CRE office as shown in the table below. Since the majority of our CRE office exposure is concentrated in the Central Valley, we are experiencing less volatility than city center CRE markets. Our credit metrics remain strong as we continue to maintain conservative underwriting standards.”

    (in thousands) CRE Office Exposure of March 31, 2025
    Region Owner-Occupied Non-Owner Occupied Total
    Central Valley $ 27,314   $ 13,544   $ 40,858  
    Southern California   2,271     352     2,623  
    Other California   4,492     3,948     8,440  
    Total California   34,077     17,844     51,921  
    Out of California   —     527     527  
    Total CRE Office $ 34,077   $ 18,371   $ 52,448  
     

    The ratio of allowance for credit losses to total loans was 1.18% at March 31, 2025, compared to 1.12% a year earlier and 1.10% at December 31, 2024. The Company individually evaluates non-accrual loans in the allowance for credit losses which has resulted in carrying a higher level of reserve.

    About FFB Bancorp

    FFB Bancorp, formerly Communities First Financial Corporation, a bank holding company established in 2014, is the parent company of FFB Bank, founded in 2005 in Fresno, California. As a leading SBA Lender in California’s Central Valley and one of the few direct acquiring banks in the United States, FFB Bank offers clients a range of personal and business checking accounts, payment processes, and loan programs. Among the Bank’s awards and accomplishments, it was ranked #1 on American Banker’s list of the Top 20 Publicly Traded Banks under $2 Billion in Assets for 2024. For 2025, the Bank was also ranked by S&P Global as the #34 best performing community bank under $3 billion in assets. The Company has also received recognition as part of the OTCQX Best 50 Companies for 2019, 2023, and 2024. For additional information, you can visit the Company’s website at www.ffb.bank or by contacting a representative at 559-439-0200.

    Forward Looking Statements

    This earnings release may contain forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on managements’ expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Company’s ability to effectively execute its business plans; the impact of the Consent Order on our financial condition and results of operations; changes in general economic and financial market conditions; changes in interest rates; and, in particular, actions taken by the Federal Reserve to try and control inflation; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Company’s business; international developments; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company undertakes no obligation to release publicly the results of any revisions to the forward-looking statements included herein to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

    Member FDIC

    Select Financial Information and Ratios For the Quarter Ended:
    March 31, 2025   December 31, 2024   March 31, 2024
    BALANCE SHEET- ENDING BALANCES:          
    Total assets $ 1,560,376     $ 1,504,128     $ 1,395,095  
    Total portfolio loans   1,092,441       1,071,079       926,781  
    Investment securities   313,826       322,186       328,906  
    Total deposits   1,320,381       1,284,377       1,200,529  
    Shareholders equity, net   174,711       168,392       138,716  
               
    INCOME STATEMENT DATA          
    Operating revenue   28,476       28,247       23,610  
    Operating expense   16,467       13,270       12,701  
    Pre-tax, pre-provision income   12,009       14,977       10,909  
    Net income after tax   8,098       9,718       7,790  
               
    SHARE DATA          
    Basic earnings per share $ 2.56     $ 3.06     $ 2.46  
    Fully diluted EPS $ 2.55     $ 3.05     $ 2.46  
    Book value per common share $ 55.52     $ 53.02     $ 43.69  
    Common shares outstanding   3,146,727       3,175,817       3,175,048  
    Fully diluted shares   3,175,178       3,189,949       3,170,981  
    FFBB – Stock price $ 76.50     $ 97.97     $ 82.99  
               
    RATIOS          
    Return on average assets   2.14 %     2.53 %     2.32 %
    Return on average equity   18.83 %     23.11 %     23.27 %
    Efficiency ratio   57.83 %     46.19 %     52.96 %
    Adjusted efficiency ratio   52.54 %     39.57 %     47.82 %
    Yield on earning assets   6.31 %     6.24 %     6.15 %
    Yield on investment securities   4.36 %     4.34 %     4.47 %
    Yield on portfolio loans   6.81 %     6.95 %     6.68 %
    Cost to fund earning assets   0.96 %     1.00 %     1.00 %
    Cost of interest-bearing deposits   2.60 %     2.69 %     2.57 %
    Net Interest Margin   5.35 %     5.24 %     5.15 %
    Equity to assets   11.20 %     11.20 %     9.94 %
    Net loan to deposit ratio   82.74 %     83.39 %     77.20 %
    Full time equivalent employees   175       168       147  
               
    BALANCE SHEET- AVERAGES          
    Total assets   1,531,573       1,529,439       1,347,625  
    Total portfolio loans   1,076,848       1,038,215       925,561  
    Investment securities   325,699       333,135       315,820  
    Total deposits   1,300,550       1,299,069       1,149,117  
    Shareholders equity, net   174,410       167,268       134,621  
                           
    Consolidated Balance Sheet (unaudited) March 31, 2025   December 31, 2024   March 31, 2024
    (in thousands)    
    ASSETS          
    Cash and due from banks $ 83,033     $ 43,905     $ 37,360  
    Interest bearing deposits in banks   20,038       19,510       53,556  
    CDs in other banks   1,724       1,723       1,693  
    Investment securities   313,826       322,186       328,906  
    Loans held for sale   —       —       —  
               
    Construction & land development   12,649       26,522       77,318  
    Residential RE 1-4 family   17,146       16,846       16,114  
    Commercial real estate   696,625       669,285       545,358  
    Agriculture   104,616       90,017       63,281  
    Commercial and industrial   260,063       267,948       224,551  
    Consumer and other   1,342       461       159  
    Portfolio loans   1,092,441       1,071,079       926,781  
    Deferred fees & discounts   (3,946 )     (4,200 )     (4,181 )
    Allowance for credit losses   (12,913 )     (11,834 )     (10,407 )
    Loans, net   1,075,582       1,055,045       912,193  
               
    Non-marketable equity investments   8,890       8,891       7,357  
    Cash value of life insurance   12,496       12,402       12,119  
    Accrued interest and other assets   44,787       40,466       41,911  
    Total assets $ 1,560,376     $ 1,504,128     $ 1,395,095  
               
    LIABILITIES AND EQUITY          
    Non-interest bearing deposits $ 825,404     $ 828,508     $ 751,636  
    Interest checking   109,555       62,034       54,659  
    Savings   54,686       55,219       52,090  
    Money market   218,940       212,322       220,559  
    Certificates of deposits   111,796       126,294       121,585  
    Total deposits   1,320,381       1,284,377       1,200,529  
    Short-term borrowings   10,000       —       —  
    Long-term debt   38,046       38,007       39,638  
    Other liabilities   17,238       13,352       16,212  
    Total liabilities   1,385,665       1,335,736       1,256,379  
               
    Common stock   35,693       38,436       36,910  
    Retained earnings   156,235       148,138       121,780  
    Accumulated other comprehensive loss   (17,217 )     (18,182 )     (19,974 )
    Shareholders’ equity   174,711       168,392       138,716  
    Total liabilities and shareholders’ equity $ 1,560,376     $ 1,504,128     $ 1,395,095  
    Consolidated Income Statement (unaudited) Quarter ended:
    (in thousands) March 31, 2025   December 31, 2024   March 31, 2024
               
    INTEREST INCOME:          
    Loan interest income $ 18,069   $ 18,131     $ 15,372  
    Investment income   3,499     3,631       3,512  
    Int. on fed funds & CDs in other banks   574     504       255  
    Dividends from non-marketable equity   132     137       129  
    Total interest income   22,274     22,403       19,268  
               
    INTEREST EXPENSE:          
    Int. on deposits   2,891     3,115       2,518  
    Int. on short-term borrowings   31     12       149  
    Int. on long-term debt   451     464       464  
    Total interest expense   3,373     3,591       3,131  
    Net interest income   18,901     18,812       16,137  
    PROVISION FOR CREDIT LOSSES   1,164     1,671       378  
    Net interest income after provision   17,737     17,141       15,759  
               
    NON-INTEREST INCOME:          
    Total deposit fee income   849     856       796  
    Debit / credit card interchange income   191     196       167  
    Merchant services income   7,864     7,562       6,068  
    Gain on sale of loans   261     929       451  
    Loss (gain) on sale of investments   —     (482 )     (373 )
    Other operating income   410     374       364  
    Total non-interest income   9,575     9,435       7,473  
               
    NON-INTEREST EXPENSE:          
    Salaries & employee benefits   8,056     5,177       6,582  
    Occupancy expense   353     411       383  
    Merchant services operating expense   3,174     3,149       2,360  
    Other operating expense   4,884     4,533       3,376  
    Total non-interest expense   16,467     13,270       12,701  
               
    Income before provision for income tax   10,845     13,306       10,531  
    PROVISION FOR INCOME TAXES   2,747     3,588       2,741  
    Net income $ 8,098   $ 9,718     $ 7,790  
    ASSET QUALITY March 31, 2025   December 31, 2024   March 31, 2024
    (in thousands)    
    Delinquent accruing loans 30-60 days $ 17,533     $ 4,886     $ 3,220  
    Delinquent accruing loans 60-90 days   1,537       2,449       1,950  
    Delinquent accruing loans 90+ days   46       987       1,332  
    Total delinquent accruing loans $ 19,116     $ 8,322     $ 6,502  
               
    Loans on non-accrual $ 15,366     $ 9,894     $ 7,156  
    Other real estate owned   —       —       —  
    Nonperforming assets $ 15,366     $ 9,894     $ 7,156  
               
    Delinquent 30-60 / Total Loans   1.60 %     0.46 %     0.35 %
    Delinquent 60-90 / Total Loans   0.14 %     0.23 %     0.21 %
    Delinquent 90+ / Total Loans   — %     0.09 %     0.14 %
    Delinquent Loans / Total Loans   1.75 %     0.78 %     0.70 %
    Non-accrual / Total Loans   1.41 %     0.92 %     0.77 %
    Nonperforming assets to total assets   0.98 %     0.66 %     0.51 %
               
    Year-to-date charge-off activity          
    Charge-offs $ 167     $ 1,287     $ —  
    Recoveries   —       35       4  
    Net charge-offs (recoveries) $ 167     $ 1,252     $ (4 )
    Annualized net loan losses to average loans   0.06 %     0.12 %     — %
               
    CREDIT LOSS RESERVE RATIOS:          
    Allowance for credit losses $ 12,913     $ 11,834     $ 10,407  
               
    Total loans $ 1,092,441     $ 1,071,079     $ 926,781  
    Purchased govt. guaranteed loans $ 16,081     $ 16,323     $ 19,642  
    Originated govt. guaranteed loans $ 45,285     $ 42,737     $ 38,228  
               
    ACL / Total loans   1.18 %     1.10 %     1.12 %
    ACL / Loans less 100% govt. gte. loans (purchased)   1.20 %     1.12 %     1.15 %
    ACL / Loans less all govt. guaranteed loans   1.25 %     1.17 %     1.20 %
    ACL / Total assets   0.83 %     0.79 %     0.75 %
    SELECT FINANCIAL TREND INFORMATION For the Quarter Ended:
    March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Mar. 31, 2024
    BALANCE SHEET- PERIOD END          
    Total assets $ 1,560,376   $ 1,504,128   $ 1,512,241   $ 1,443,723   $ 1,395,095  
    Loans held for sale   —     —     —     —     —  
    Loans held for investment   1,092,441     1,071,079     998,222     969,764     926,781  
    Investment securities   313,826     322,186     345,428     345,491     328,906  
               
    Non-interest bearing deposits   825,404     828,508     826,708     731,030     751,636  
    Interest bearing deposits   494,977     455,869     460,241     437,927     448,893  
    Total deposits   1,320,381     1,284,377     1,286,949     1,168,957     1,200,529  
    Short-term borrowings   10,000     —     —     68,000     —  
    Long-term debt   38,046     38,007     37,967     39,678     39,638  
               
    Total equity   191,928     186,574     176,350     167,286     158,690  
    Accumulated other comprehensive loss   (17,217 )   (18,182 )   (12,715 )   (18,646 )   (19,974 )
    Shareholders’ equity   174,711     168,392     163,635     148,640     138,716  
               
    QUARTERLY INCOME STATEMENT          
    Interest income $ 22,274   $ 22,403   $ 21,404   $ 20,887   $ 19,268  
    Interest expense   3,373     3,591     3,617     3,581     3,131  
    Net interest income   18,901     18,812     17,787     17,306     16,137  
    Non-interest income   9,575     9,435     7,616     7,423     7,473  
    Gross revenue   28,476     28,247     25,403     24,729     23,610  
               
    Provision for credit losses   1,164     1,671     762     291     378  
               
    Non-interest expense   16,467     13,270     12,735     13,285     12,701  
    Net income before tax   10,845     13,306     11,906     11,153     10,531  
    Tax provision   2,747     3,588     3,343     3,077     2,741  
    Net income after tax   8,098     9,718     8,563     8,076     7,790  
               
    BALANCE SHEET- AVERAGE BALANCE          
    Total assets $ 1,531,573   $ 1,529,439   $ 1,477,259   $ 1,704,255   $ 1,347,604  
    Loans held for sale   —     —     —     —     —  
    Loans held for investment   1,076,848     1,038,215     982,152     954,871     925,561  
    Investment securities   325,699     333,135     343,096     334,416     315,820  
               
    Non-interest bearing deposits   850,426     838,748     822,200     758,977     755,603  
    Interest bearing deposits   450,124     460,321     432,143     440,147     393,514  
    Total deposits   1,300,550     1,299,069     1,254,343     1,199,124     1,149,117  
    Short-term borrowings   2,856     951     —     10,053     9,562  
    Long-term debt   38,028     37,989     39,479     39,660     39,620  
               
    Shareholders’ equity   174,410     167,268     161,363     141,881     134,621  
                                   

    Contact: Steve Miller – President & CEO
    Bhavneet Gill – EVP & CFO
    (559) 439-0200

    The MIL Network –

  • MIL-OSI: Chestnut Market Launches First Shell-Branded Store With Mashgin AI Checkout

    Source: GlobeNewswire (MIL-OSI)

    WHITE PLAINS, N.Y., April 16, 2025 (GLOBE NEWSWIRE) — Chestnut Market today announced it has deployed Mashgin’s AI-powered checkout system at its 203 Greenwood Ave, Bethel, CT location. This marks the first Shell-branded store to roll out Mashgin’s technology, which seamlessly integrates with Shell’s payment network through the Invenco EDGEPro device.

    This technological advancement represents a significant step forward in modernizing the convenience store experience. Chestnut Market recently won a Store Design Award for their Hutchinson Parkway location that features 6 Mashgin kiosks.

    “After witnessing the tremendous success of Mashgin’s technology at our Hutchinson Parkway location, where we completely eliminated checkout lines, we’re excited to bring this same level of convenience to this location’s customers,” said Faheem Jamal, Director of Retail at Chestnut Market. “Retail is detail, and keeping lines short is a big one. This continued expansion demonstrates our commitment to enhancing the customer experience through innovative, practical technology.”

    This pilot program showcases how Shell delivers top tier service to consumers and wholesalers with industry leading technology. A key capability of the Invenco EDGEPro device is enabling options for third party POS systems to be integrated at retail stations. Mashgin’s AI system and Shell’s payment network are a pivotal example of delivering technological capabilities.

    “We’re excited to add Mashgin, one of the quickest and most intuitive AI POS options for Shell Branded locations,” said Elaine Mohr, GM of Operations at Shell Mobility Americas. “This seamless integration demonstrates the value brought to stores with EDGEPro technology as it rolls out across the country.”

    This implementation represents a significant milestone in the convenience store industry, combining Shell’s trusted fuel operations with cutting-edge AI technology to create a faster and customer-friendly shopping experience. Chestnut Market plans to deploy Mashgin’s AI-powered checkout system into additional stores this year.

    “The team at Chestnut is truly exceptional when it comes to building stores that people want to visit,” said Jack Hogan, SVP of Partnerships at Mashgin. “This collaboration with Shell helps us to deliver that next level of customer experience at Chestnut Market, and we look forward to the same for more branded Wholesalers going forward.” 

    About Chestnut Market:

    Chestnut Market is a family-owned convenience store chain operating 75 locations in New York, New Jersey and Connecticut. Their values, friendliness, cleanliness and safety, attest to their commitment of making an impact to the communities that they serve across the Hudson Valley and beyond. Each store is curated to meet the demands of customers. They form strategic partnerships ranging from local collaborations to high-tech solutions and offer a wide selection of snacks, beverages and fresh food options.

    For more information about Chestnut Market, go to https://chestnutmarket.com/.

    About Mashgin:

    Mashgin is the world’s fastest checkout system, powered by AI and computer vision. By eliminating barcode scanning, Mashgin allows customers to simply place items on the tray, pay, and be on their way in under 10 seconds. With checkout speeds up to four times faster than traditional systems, Mashgin not only enhances customer satisfaction but also boosts revenue for retailers by reducing wait times and streamlining operations. Founded in 2014 and headquartered in Palo Alto, California, Mashgin is a privately held company backed by NEA, Matrix Partners, Susa Ventures, and Y Combinator.

    Follow Mashgin on LinkedIn or learn more about Mashgin at www.mashgin.com.

    Press Contact:
    Quinn Trask
    104 West on behalf of Mashgin
    Quinn.trask@104west.com

    The MIL Network –

  • MIL-OSI: 22 X Ventures Invests in PureWager Group, LLC to Transform the U.S. Gaming Landscape

    Source: GlobeNewswire (MIL-OSI)

    SHERIDAN, Wyo., April 16, 2025 (GLOBE NEWSWIRE) — 22 X Ventures, a private equity firm known for investing in disruptive and mission-driven companies, today announced its strategic investment in PureWager Group, LLC, an emerging force in the U.S. sports betting and online gaming sector.

    Founded by gaming veterans Wayne Stevenson and Elliott Banks, PureWager brings together over 50 years of combined leadership in gaming, fintech, and global entertainment technologies. The company is developing a next-generation platform that integrates real-time fan engagement, cutting-edge gamification, and AI-powered personalization. Its proprietary technology stack is well underway, with key operational milestones scheduled ahead of its official launch in 2025.

    “PureWager is uniquely positioned to capture a meaningful share of the booming online sports betting market,” said Minh Le, Managing Partner at 22 X Ventures. “Their bold vision, commitment to ethical user engagement, and AI-powered platform make them one of the most compelling opportunities in the space.”

    The U.S. sports betting market is projected to surpass $45 billion by 2030, driven by accelerating legislation and increased access through both state and sovereign tribal partnerships. 22 X Ventures’ investment will help PureWager fast-track its go-to-market strategy, licensing efforts, and platform innovation.

    “Over the past 30+ months, PureWager has quietly developed a series of strategic advantages and partnerships that will give us a competitive edge at launch,” said Wayne Stevenson, Co-Founder of PureWager Group.

    “This platform is designed to do more than entertain—it’s meant to redefine how communities engage with gaming in an ethical and immersive way,” added Elliott Banks, Co-Founder of PureWager Group.

    This investment marks a continued expansion of 22 X Ventures’ portfolio in high-impact sectors including fintech, infrastructure, AI, and gaming innovation.

    About 22 X Ventures, LLC  
    22 X Ventures, LLC is a private equity firm investing in transformative companies that align with its mission to create sustainable value across industries and communities. The firm focuses on growth-stage companies with high disruption potential and clear market advantages. Learn more www.22xventures.com.

    About PureWager Group, LLC

    PureWager Group, LLC is a gaming technology company reimagining the sports betting experience through real-time interaction, personalized engagement, and responsible innovation. Co-founded by Wayne Stevenson and Elliott Banks, the company is preparing for a national rollout of its proprietary platform in regulated and sovereign markets across the United States.

    Media Contact:

    Minh Le
    Public Relations Manager
    22 X Ventures & PureWager Group
    Email: info@22capitalpartners.com
    Phone: 703-629-1131

    The MIL Network –

  • MIL-OSI: MiddleGround Capital Hires Private Equity Industry Veteran Jonathan La as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    LEXINGTON, Ky., April 16, 2025 (GLOBE NEWSWIRE) — MiddleGround Capital (“MiddleGround”), an operationally focused private equity firm that makes control investments in North American and European headquartered middle-market B2B industrial and specialty distribution companies, today announced that it has hired Jonathan La as Chief Financial Officer. He reports to Christopher Speight, Partner, and works in MiddleGround’s New York office. He began the position in February 2025.

    In this role, Jonathan is responsible for all aspects of the firm’s financial operations, as well as for accurate and timely financial reporting. Additionally, he leads the Accounting and Fund Accounting teams for all of MiddleGround’s U.S. and European offices. Jonathan joins MiddleGround Capital with 25 years of experience in the private equity industry, including serving for 17 years at Monomoy Capital Partners as Director of Finance. He was involved in all aspects of financial planning, treasury functions and tax structuring, and implemented new ERP and budgeting systems to increase efficiency and reporting capabilities.

    “Having worked with Jonathan for many years at Monomoy, I can say that MiddleGround is very fortunate to have such an experienced financial expert on board,” said John Stewart, Founding and Managing Partner of MiddleGround. “His expertise in middle market private investment accounting practices is second to none, and his help in building efficient reporting structures and processes will be a great asset for our stakeholders.”

    Prior to Monomoy, Jonathan worked at Evercore Partners, where he helped transition the books and records of the private equity funds in-house for IPOs. Before that, he was at BISYS, a private equity fund administrator, managing various private equity funds, fund of funds and hedge funds clients. He began his career at Deloitte & Touche LLP in their private equity audit practice.

    “MiddleGround’s focus on continual improvement and operational excellence across its platform investments makes it a true innovator in the private equity space,” said Jonathan. “I’m very excited to help further those efforts from a financial, accounting, and tax perspective.”

    Jonathan graduated from Bernard M. Baruch College with a Bachelor of Business Administration in Accounting, and is a CPA.

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

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

    The MIL Network –

  • MIL-OSI: Zoom Workplace for Frontline now available to improve on-shift communications and work management for frontline workers

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., April 16, 2025 (GLOBE NEWSWIRE) — Today, Zoom Communications, Inc. (NASDAQ: ZM), announced the launch of Zoom Workplace for Frontline, a purpose-built mobile-first solution that unlocks agentic Zoom AI Companion skills for all frontline workers and managers with paid Zoom accounts. Zoom Workplace for Frontline is designed to streamline on-shift communications and work management tools to help frontline workers—ranging from retail and manufacturing to healthcare and first responders—get more done, do better work, and strengthen relationships.

    “Our mission of delivering an AI-first open work platform isn’t just limited to knowledge workers; we’re also thinking about how we can address the needs of frontline workers, who represent over 80% of the global workforce,” said Smita Hashim, chief product officer at Zoom. “Zoom Workplace for Frontline empowers frontline workers to stay connected, access critical information on the go, and streamline daily tasks – ultimately fostering a more engaged, productive, and connected workforce.”

    Key features of Zoom Workplace for Frontline include:

    On-shift communications:

    • Real-time activity feed on Zoom’s mobile app: Enables workers to access critical shift communications and resources, and tasks at hand to get the job done quickly.
    • Auto-generated on-shift chat groups: Instantly connects employees, clearly identifying on-floor workers and managers, and removes the tedious task of manually creating new chats for every shift.
    • Push-to-talk functionality: Enables seamless real-time voice communication at the push of a button.

    Work management capabilities:

    • Shift swapping: Allows employees to request and manage shift swaps directly from their mobile devices.
    • Task management: Streamlines work assignments and progress tracking for improved efficiency with Zoom Tasks.
    • Shift summaries: Provides an overview of key conversations, pending tasks, and other important updates for the incoming shift. Enables shift managers to have oversight on shift progress, attendance, and task reports.

    Zoom AI Companion:

    • Automatic shift reporting: AI-generated shift discussion summaries, attendance reports, and task reports expedite shift handoffs.
    • Smart, natural search: Access information trained on knowledge bases.
    • Automatic translation: Chat messages in the user’s preferred supported language.

    To learn more about Zoom’s commitment to frontline workers, click here.

    About Zoom

    Zoom’s mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion that empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Get more information at zoom.com.

    Zoom Public Relations
    Bridget Moriarty
    press@zoom.us

    The MIL Network –

  • MIL-OSI: Tenable Appoints Steve Vintz and Mark Thurmond as Co-CEOs

    Source: GlobeNewswire (MIL-OSI)

    COLUMBIA, Md., April 16, 2025 (GLOBE NEWSWIRE) — Tenable®, the exposure management company, today announced that its Board of Directors has unanimously appointed Steve Vintz and Mark Thurmond as co-Chief Executive Officers on a permanent basis. Following an extensive search process that considered both internal and external candidates, the Board concluded that Vintz and Thurmond are best positioned to move the company forward. The decision reflects the Board’s confidence in the strength of their leadership following a successful interim period during which they drove significant operational and strategic momentum. The Board also intends to appoint Vintz and Thurmond to the Board immediately following the company’s annual shareholder meeting to be held on May 14, 2025.

    Vintz, Tenable’s Chief Financial Officer since 2014, and Thurmond, who has served as Chief Operating Officer since 2020, bring deep industry and operational experience. Under the co-CEO structure, Vintz will oversee product, cyber security, corporate development and all general and administrative functions, while Thurmond will oversee GTM functions including sales, professional services, technical support, marketing, and customer success. Together, they will continue to guide the company’s mission to help organizations understand and reduce cyber risk across their modern attack surfaces.

    “Mark and Steve have demonstrated exceptional leadership and alignment during their time as interim co-CEOs,” said Art Coviello, Chairman of the Tenable Board of Directors. “Their collaborative leadership style, deep industry knowledge, and customer-first mindset have already created strong results. We are confident in their ability to continue driving innovation and long-term value for all stakeholders.”

    Under their interim leadership, Tenable has expanded its customer footprint, with strong adoption of the Tenable One Exposure Management platform and growing momentum behind Tenable Cloud Security. They also completed the strategic acquisition of Vulcan Cyber, advancing Tenable’s product roadmap with the expected launch of a significantly expanded version of Tenable One that we believe will be the most comprehensive exposure management platform on the market.

    “We are honored to lead Tenable as co-CEOs and energized by the opportunity ahead,” said Vintz and Thurmond in a joint statement. “We have tremendous belief in Tenable’s mission, team and market position, and we’re excited to build on our momentum to deliver meaningful outcomes for our customers, employees and shareholders.”

    Coviello, a respected cybersecurity leader, will remain Chairman of the Board. Additionally, Steve Vintz will continue to serve as Chief Financial Officer, while the company conducts a CFO search.

    About Tenable
    Tenable® is the exposure management company, exposing and closing the cybersecurity gaps that erode business value, reputation and trust. The company’s AI-powered exposure management platform radically unifies security visibility, insight and action across the attack surface, equipping modern organizations to protect against attacks from IT infrastructure to cloud environments to critical infrastructure and everywhere in between. By protecting enterprises from security exposure, Tenable reduces business risk for approximately 44,000 customers around the globe. Learn more at tenable.com.

    Media Contact:
    Tenable
    tenablepr@tenable.com

    Forward-Looking Statements

    This press release includes forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding the effects of appointing the co-CEOs, are forward-looking statements and represent our views as of the date of this press release. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of assumptions and risks and uncertainties, many of which involve factors or circumstances that are beyond our control that could affect our financial results. These risks and uncertainties are detailed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2024 as well as other filings that we make from time to time with the SEC, which are available on the SEC’s website at sec.gov. 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, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in any forward-looking statements. Except as required by law, we are under no obligation to update these forward-looking statements subsequent to the date of this press release, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

    The MIL Network –

  • MIL-OSI: 84% of Organizations’ SOC Analysts are Unknowingly Investigating the Same Incidents

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, April 16, 2025 (GLOBE NEWSWIRE) — Devo Technology, the security data analytics company, today unveiled the results of a new survey examining alert management in security operations centers (SOCs) and the growing need for a shift to an Alertless SOC. The Evolution Toward an Alertless SOC report found that the current alert-centric SOC architecture creates numerous pain points for analysts, including duplicated work.

    Organizations reported that their analysts spend significant time manually gathering evidence from different tools, enriching data, and cross-checking data to understand if new alerts are connected to already-known incidents. More specifically, the survey found that:

    • 83% of analysts are overwhelmed by alert volume, false positives, and lack of alert context.
    • 85% of analysts spend substantial time gathering and connecting evidence to transform an alert into an actionable security case.

    The alert-centric model also duplicates work, wasting analysts’ already limited time. A staggering 84% of organizations report that SOC analysts unknowingly investigate the same incidents several times a month or more. More specifically, 60% reported discovering duplicated investigations at least once per week.

    Under-delivery from tools and a reactive approach hinders SOC efficiency
    The study showed that analysts are more likely to take a reactive approach, working in response to alert notifications rather than proactively investigating and threat hunting. In total, 47% say they primarily discover security incidents through alerts, compared with just 33% who say discovery comes primarily through proactive investigation.

    The under-delivery of tools in the SOC technology stack exacerbates this reactive approach. When asked to rank the top capabilities that are not meeting expectations, organizations cited case management (77%), threat intelligence integration (76%), reporting metrics (75%), investigation workflow automation (75%), and alert prioritization accuracy (73%).

    “Even with best-in-class technology and highly-skilled teams, the alert-centric model still leaves SOC analysts overwhelmed,” said Rakesh Nair, chief technology officer at Devo. “As AI-enhanced threats become more prevalent, it’s more important than ever to free analysts’ time to focus on proactive investigation to maintain and improve organizations’ security posture.”

    Organizations are ready to level up AI use in the SOC
    While AI adoption in the SOC is widespread, current use cases are focused on basic functions like alert severity (47%), response triggers (42%), and anomaly detection (41%). A significant opportunity exists to leverage AI for more impactful, proactive security measures. Despite high demand, fewer than one in three organizations use AI for automated alert triage, and only 36% use it for alert enrichment, both critical for reducing manual labor. However, organizations are eager to advance within the next year:

    • 82% want to prioritize proactive investigations instead of reactive alert responses.
    • 81% aim to enhance alert correlation and enrichment.
    • 80% seek cost-effective methods to analyze broader data sources.

    The Alertless SOC charts a path away from the alert-centric SOC model
    The Alertless SOC offers a new approach to SOC work by unleashing analysts’ expertise through intelligent automation and investigation capabilities. Devo’s vision for the Alertless SOC goes beyond the traditional Threat Detection, Investigation, and Response (TDIR)—it’s a fundamental reimagining of how SOC teams operate, replacing reactive alert management with precision threat hunting and coordinated response.

    Read the full survey results and learn more about the Alertless SOC in Devo’s Evolution Toward an Alertless SOC report.

    Methodology
    The Evolution Toward an Alertless SOC survey was conducted by Wakefield Research among 200 US security operations professionals with seniority of manager or director who work at companies with a minimum of 1,000 employees, between January 28 and February 10, 2025, using an email invitation and online survey.

    About Devo
    Devo Technology delivers a real-time security data platform that serves as the foundation of your security operations and includes data-powered threat detection, automated case management, autonomous investigations and threat hunting. AI and intelligent automation help your SOC work faster and smarter so your team can proactively make the right decisions in real time. Headquartered in Boston, Massachusetts, with operations in North America, Europe, and Asia Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures and Eurazeo.

    The MIL Network –

  • MIL-OSI: STMicroelectronics future-proofs the development of next-gen cars with innovative memory solution for automotive microcontrollers

    Source: GlobeNewswire (MIL-OSI)

    STMicroelectronics future-proofs the development of next-gen cars
    with innovative memory solution for automotive microcontrollers

    • New Stellar microcontrollers with xMemory enable simpler, more scalable computing platform for developing software-defined vehicles and evolving electric vehicle architectures  
    • Extensible capability equips carmakers for continuous innovation, including more memory-hungry AI applications  
    • xMemory, based on ST proprietary phase-change memory (PCM) technology, will start production later in 2025 

    Geneva, Switzerland, April 16, 2025 — STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, has announced Stellar with xMemory, a new generation of extensible memory embedded into its Stellar series of automotive microcontrollers, that transforms the challenging process of developing software-defined vehicles (SDV) and evolving platforms for electrification.  

    Instead of managing multiple devices with varying memory options and the associated development and qualification costs, Stellar with xMemory introduces a single, innovative device with extensible memory, providing customers with an efficient and cost-effective solution. This simpler approach from the start enables carmakers to future-proof their designs, with room for additional innovation later in their development cycle, reducing development costs and accelerating time to market with a simpler supply chain. Stellar with xMemory will be first available on the Stellar P6 MCUs, which target the new drivetrain trends and architectures for electric vehicles (EVs), with production to start later in 2025. 

     “ST has developed the ultimate memory technology for the automobile market with the smallest bit cell to meet the endless need for more memory. Stellar with xMemory will streamline the car architectures of tomorrow, making them more cost-effective and significantly reduce development time for carmakers,” said Luca Rodeschini, Group Vice President and General Purpose and Automotive Microcontrollers Division General Manager, STMicroelectronics. “This innovative solution enables the same hardware to ensure carmakers have the infrastructure and capabilities with the headroom to continuously innovate their products over time. It provides peace of mind to introduce new innovations in digitalization and electrification, allowing them to stay ahead in the market and extend the lifetime of their vehicles.” 

    “With the embedded Phase Change Memory (PCM) technology, Stellar offers a robust and flexible memory concept to create highly performant, adaptable microcontrollers for automotive usage. The technology provides application advantages compared to other memory technologies, such as RRAM and MRAM,” said Axel Aue, Vice President, Bosch. 

    “By choosing an extensible MCU like Stellar with xMemory, engineers can avoid costly hardware redesigns to support software features. As software inevitably grows, whether during the initial development or through post-launch OTA updates, the same platform can be upgraded in the field, significantly reducing time-to-market and maintenance costs. A solution like Stellar with xMemory also enables simplified logistics and bill of material efficiency,” said Anshel Sag, Principal Analyst, Moor Insights & Strategy.

    How it works 
    Carmakers need seamless integration of software and hardware to maximize reuse across platforms, extend vehicle longevity and enhance digital capabilities. Memory becomes a bottleneck as software complexity grows, driven by new features and regulations, memory-hungry AI and Machine Learning applications, and over-the-air (OTA) updates. ST’s xMemory addresses this challenge by extending the memory either during the development phase or when vehicle is in the field, giving them unlimited application upgrades. 

    Selecting the right MCU at the start of the SDV lifecycle ensures sufficient on-chip memory for future software development. Today’s choice of over-specifying memory increases costs, while under-specifying may necessitate finding and re-qualifying a different MCU with extra memory later, adding complexity, cost, and delays. Stellar MCUs with xMemory are competitively priced to bring additional savings, simplify the OEM supply chain, and accelerate time to market by lengthening the product lifetime and maximizing reuse across projects to reduce time for qualification. 

    Technical notes for editors on PCM and Stellar: 
    ST has been at the forefront of the transition from Flash to eNVM technology in automotive MCUs, introducing the first 28nm eNVM qualified for automotive applications, which is at the core of the xMemory. ST’s embedded Phase-Change Memory (ePCM) has the best power, performance, area (PPA) index of NVM technologies such as RRAM, MRAM, and Flash. 

    With the industry’s smallest eNVM cell size, PCM fabricated at 18nm and 28nm nodes provides twice the memory density of other technologies.

    The latest-generation PCM technology will be available on all upcoming Arm®-based Stellar P and G automotive MCUs. The Stellar family is dedicated to automotive applications and simplifies vehicle electrical architectures for increased power, flexibility, and safety. The portfolio includes Stellar Integration MCUs (Stellar P and Stellar G series) for centralized zone and domain controllers and body applications, which consolidate the functions of multiple, separate communication and control ECUs, and Stellar Electrification MCUs (Stellar E series), which are optimized for control of EV traction-module power converters.  

    For more information, please go to www.st.com/stellar-xmemory  

    About STMicroelectronics
    At ST, we are 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027.

    Further information can be found at www.st.com.

    INVESTOR RELATIONS
    Jérôme Ramel
    EVP Corporate Development & Integrated External Communication
    Tel: +41.22.929.59.20
    jerome.ramel@st.com

    MEDIA RELATIONS
    Alexis Breton
    Corporate External Communications
    Tel: +33.6.59.16.79.08
    alexis.breton@st.com

    Attachments

    The MIL Network –

  • MIL-OSI: Varonis and Concentrix Forge Partnership to Deliver Data Security for the AI Revolution

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 16, 2025 (GLOBE NEWSWIRE) — Varonis Systems, Inc. (Nasdaq: VRNS) announced a strategic partnership with Concentrix Corporation (NASDAQ: CNXC) to deliver end-to-end solutions to help large enterprises implement and harness AI safely and effectively while protecting what matters most — data.

    The partnership brings together two global security leaders. Concentrix is a Fortune 500 company serving 155+ Fortune Global 500 clients. Varonis is the leader and customer favorite in data security trusted by thousands of organizations to protect data wherever it lives.

    The companies will provide technology and services to help organizations reduce sensitive data exposure from AI agents, chatbots, and LLMs, and address AI-driven cyber threats. Varonis’ Data Security Platform will integrate with Concentrix, offering automated data classification, remediation, alerting, and AI readiness monitoring while providing customers with 24/7 Managed Data Detection and Response service.

    “AI is transforming business performance, but it’s also introducing new vulnerabilities and placing critical data at risk,” said Ryan Peterson, Chief Product Officer at Concentrix. “Our partnership with Varonis enables us to bring to market a robust, turnkey solution that leverages best-in-class automated data security to stop threats before they start. Whether it’s threat detection, vulnerability management, or compliance assurance, we provide our clients with unparalleled security, efficiency, and operational excellence.”

    “AI, LLMs, and agentic AI increase data vulnerability,” stated Varonis Vice Chairman of Sales Jim O’Boyle. “Endpoint security, MFA, and other technologies are important but don’t prevent data breaches. Partial solutions that discover issues or sample data are inadequate. Only automated, end-to-end data security backed by a dedicated team can protect data in the AI era — and that’s why we are thrilled to collaborate with Concentrix.”

    Additional Resources

    About Concentrix: Powering a World That Works  
    Concentrix Corporation (NASDAQ: CNXC), a Fortune 500® company, is the global technology and services leader that powers the world’s best brands, today and into the future. We’re solution-focused, tech-powered, intelligence-fueled. Every day, we design, build, and run fully integrated, end-to-end solutions at speed and scale across the entire enterprise, helping over 2,000 clients solve their toughest business challenges. With unique data and insights, deep industry expertise, and advanced technology solutions, we’re the intelligent transformation partner that powers a world that works, helping companies become refreshingly simple to work, interact, and transact with. Delivering outcomes unimagined across every major vertical in 70+ markets. Virtually everywhere. Visit concentrix.com to learn more. 

    About Varonis
    Varonis (Nasdaq: VRNS) is the leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

    Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), AI security, and insider risk management.

    Varonis protects data first, not last. Learn more at www.varonis.com.

    Varonis Investor Relations Contact:
    Tim Perz
    Varonis Systems, Inc.
    646-640-2112
    investors@varonis.com

    Varonis News Media Contact:
    Rachel Hunt
    Varonis Systems, Inc.
    877-292-8767 (ext. 1598)
    pr@varonis.com 

    Concentrix Public Relations Contact:
    Concentrix Media
    media@concentrix.com

    From Fortune ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 500 are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Concentrix.

    The MIL Network –

  • MIL-OSI: Plumas Bancorp Reports First Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    RENO, Nev., April 16, 2025 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank (the “Bank”), today announced first quarter earnings of $7.2 million or $1.21 per share, up from $6.3 million or $1.06 per share during the first quarter of 2024. Diluted earnings per share was $1.20 during the three months ended March 31, 2025, up from $1.05 per share during the quarter ended March 31, 2024. Return on average assets was 1.79% during the current quarter, up from 1.55% during the first quarter of 2024. Return on average equity was 16.0% for the three months ended March 31, 2025, down from 16.4% during the first quarter of 2024.

    Net-interest income increased by $1.1 million from $17.4 million during the three months ended March 31, 2024, to $18.5 million during the current quarter. The provision for credit losses decreased from $821 thousand during the first quarter of 2024 to $250 thousand during the current quarter.

    Non-interest income increased by $1.1 million from $2.1 million during the three months ended March 31, 2024 to $3.2 million during the first quarter of 2025 related to a legal settlement totaling $1.1 million. This settlement related to the Dixie Fire in August of 2021 which swept through the town of Greenville, California. The fire caused severe damage to the Greenville area, including the telecommunications infrastructure which adversely affected our ability to service our customers in this area during the last few years.

    Non-interest expense increased by $1.1 million from $10.4 million during the first quarter of 2024 to $11.5 million during the current quarter. Of this amount, $569 thousand relates to costs associated with our pending acquisition of Cornerstone Community Bancorp. We signed a definitive agreement to acquire Cornerstone Community Bancorp on January 28, 2025. Merger transaction costs that facilitate the merger are not deductible for income tax purposes. Of the $569 thousand in merger related costs, $562 thousand is estimated to be not deductible for state and federal income tax.

    The provision for income taxes increased by $731 thousand from $2.1 million, 25.4% of pre-tax income, during the three months ended March 31, 2024 to $2.9 million, or 28.5% of pre-tax income, during the current quarter.

    Balance sheet Highlights
    March 31, 2025 compared to March 31, 2024

    • Gross loans increased by $35 million, or 3.5%, to $1.0 billion.
    • Total deposits increased by $73 million, or 5.6% to $1.4 billion.
    • Borrowings decreased by $105 million, or 87.5% to $15 million.
    • Total equity increased by $26 million, or 16.2% to $187.6 million.
    • Book value per share increased by $4.29, or 15.7% to $31.68.

    President’s Comments

    Andrew J. Ryback, director, president, and chief executive officer of Plumas Bancorp and Plumas Bank, described the first quarter accomplishments, saying, “The highlight of this quarter is the announcement of our definitive merger agreement with Cornerstone Community Bancorp, a partnership that will result in a combined company with over $2.3 billion in assets, $2.0 billion in deposits, and $1.5 billion in loans. This merger reinforces our commitment to serving Northern California and Western Nevada, creating enhanced opportunities for our clients, shareholders, and team members.

    Through this merger, we unite Cornerstone Community Bank’s local expertise and strong practices with Plumas Bank’s innovative technology and business solutions. Together, we are positioned to expand our footprint and strengthen our offerings, ensuring sustained value for the communities we serve. With projected earnings accretion and a focused integration process, we are confident in our ability to deliver long-term growth and success.”

    Mr. Ryback noted additional developments during the quarter, saying, “Piper Sandler added Plumas to its independent research coverage, boosting Plumas’ visibility among investors and enhancing market confidence. With coverage from Raymond James and Stephens, too, we expect fair market valuation as all three firms previously released ‘Buy’ recommendations for PLBC stock.”

    Mr. Ryback concluded, “I want to express my gratitude to our shareholders, employees, and partners for their support during this transformative time. As we move forward, we remain steadfast in our dedication to fostering growth, innovation, and community impact, while maintaining the exceptional financial results and service excellence that define Plumas Bancorp.”

    Loans, Deposits, Investments and Cash

    Gross loans increased by $34.5 million, or 3.5%, from $976 million at March 31, 2024, to $1.0 billion at March 31, 2025. Increases of $98 million in commercial real estate loans and $1 million in equity lines of credit were partially offset by decreases of $31 million in automobile loans, $18 million in construction loans, $11 million in agricultural loans and $4 million in commercial loans.

    On March 31, 2025, approximately 77% of the Company’s loan portfolio was comprised of variable rate loans. The rates of interest charged on variable rate loans are set at specific increments in relation to the Company’s lending rate or other indexes such as the published prime interest rate or U.S. Treasury rates and vary with changes in these indexes. The frequency at which variable rate loans reprice can vary from one day to several years. Most of our commercial real estate portfolio reprices every five years. Loans indexed to the prime interest rate were approximately 16% of the Company’s loan portfolio; these loans reprice within one day to three months of a change in the prime rate.

    Total deposits increased by $73 million to $1.4 billion at March 31, 2025. The increase in deposits includes increases of $10 million in demand deposits and $76 million in money market accounts. Partially offsetting these increases were decreases of $5 million in savings deposits and $8 million in time deposits. We attribute much of the increase in money market accounts to higher rate public entity deposits. At December 31, 2025, 49% of the Company’s deposits were in the form of non-interest-bearing demand deposits. The Company has no brokered deposits.

    Investment securities totaled $447 million at March 31, 2025 and 2024. The Bank’s investment security portfolio consists of debt securities issued by US Government agencies, US Government sponsored agencies and municipalities. Cash and due from banks decreased by $41 million from $128 million at March 31, 2024, to $87 million at March 31, 2025.

    Asset Quality

    Nonperforming assets (which are comprised of nonperforming loans, other real estate owned (“OREO”) and repossessed vehicle holdings) at March 31, 2025, were $3.8 million, down from $6.0 million at March 31, 2024. Nonperforming assets as a percentage of total assets decreased to 0.23% at March 31, 2025, down from 0.37% at March 31, 2024. OREO decreased by $266 thousand from $357 thousand at March 31, 2024, to $91 thousand at March 31, 2025. Nonperforming loans were $3.7 million at March 31, 2025, and $5.6 million at March 31, 2024. Nonperforming loans as a percentage of total loans decreased to 0.36% at March 31, 2025, down from 0.57% at March 31, 2024.

    During the first quarter of 2025 we recorded a provision for credit losses of $250 thousand consisting of a provision for credit losses on loans of $250 thousand. This compares to a provision for credit losses of $821 thousand consisting of a provision for credit losses on loans of $900 thousand and a decrease in the reserve for unfunded commitments of $79 thousand during the first quarter of 2024.

    Net charge-offs totaled $127 thousand and $610 thousand during the three months ended March 31, 2025 and 2024, respectively. The allowance for credit losses totaled $13.3 million at March 31, 2025, and $13.2 million at March 31, 2024. The allowance for credit losses as a percentage of total loans was 1.32% at March 31, 2025, and 1.35% at March 31, 2024.

    The following tables present the activity in the allowance for credit losses and the reserve for unfunded commitments during the three months ended March 31, 2025 and 2024 (in thousands).

    Allowance for Credit Losses   March 31, 2025     March 31, 2024
    Balance, beginning of period $ 13,196     $ 12,867  
    Provision charged to operations   250       900  
    Losses charged to allowance   (312 )     (680 )
    Recoveries   185       70  
    Balance, end of period $ 13,319     $ 13,157  
    Reserve for Unfunded
    Commitments    		  

    March 31, 2025

    		      

    March 31, 2024
    Balance, beginning of period $ 620     $ 799  
    Provision charged to operations   –       (79 )
    Balance, end of period $ 620     $ 720  


    Bank Term Funding Program (BTFP)

    At March 31, 2024, the Company had outstanding borrowings under BTFP totaling $105 million. All BTFP borrowings were paid off during 2024. Interest expense recognized on the BTFP borrowings for the three months ended March 31, 2024, was $1.2 million.

    Shareholders’ Equity

    Total shareholders’ equity increased by $26.1 million from $162 million at March 31, 2024, to $188 million at March 31, 2025. The $26.1 million includes earnings during the twelve-month period totaling $29.5 million, a decrease in accumulated other comprehensive loss of $2.1 million and stock option activity totaling $1.0 million. These items were partially offset by the payment of cash dividends totaling $6.5 million.

    Liquidity

    The Company manages its liquidity to provide the ability to generate funds to support asset growth, meet deposit withdrawals (both anticipated and unanticipated), fund customers’ borrowing needs and satisfy maturity of short-term borrowings. The Company’s liquidity needs are managed using assets or liabilities, or both. On the asset side, in addition to cash and due from banks, the Company maintains an investment portfolio which includes unpledged U.S. Government-sponsored agency securities that are classified as available-for-sale. On the liability side, liquidity needs are managed by offering competitive rates on deposit products and the use of established credit lines.

    The Company is a member of the Federal Home Loan Bank of San Francisco (FHLB) and can borrow up to $251 million from the FHLB secured by commercial and residential mortgage loans with carrying values totaling $441 million. The Company is also eligible to borrow at the FRB Discount Window. At March 31, 2025 the Company could borrow up to $115 million at the Discount Window secured by investment securities with a fair value of $119 million. In addition to its FHLB borrowing line and the Discount Window, the Company has unsecured short-term borrowing agreements with two of its correspondent banks in the amounts of $50 million and $20 million. There were no outstanding borrowings to the FHLB, FRB Discount Window or the correspondent banks at March 31, 2025, and March 31, 2024.

    Customer deposits are the Company’s primary source of funds. Total deposits increased by $73 million to $1.4 billion at March 31, 2025. Deposits are held in various forms with varying maturities. The Company estimates that it has approximately $510 million in uninsured deposits which includes uninsured deposits of Plumas Bancorp. Of this amount, $190 million represents deposits that are collateralized such as deposits of states, municipalities and tribal accounts.

    The Company’s securities portfolio, Discount Window advances, FHLB advances, and cash and due from banks serve as the primary sources of liquidity, providing adequate funding for loans during periods of high loan demand. During periods of decreased lending, funds obtained from the maturing or sale of investments, loan payments, and new deposits are invested in short-term earning assets, such as cash held at the FRB and investment securities, to serve as a source of funding for future loan growth. Management believes that the Company’s available sources of funds, including borrowings, will provide adequate liquidity for its operations in the foreseeable future.

    Net Interest Income and Net Interest Margin

    Driven mostly by growth in the loan portfolio and the repayment of the BTFP borrowings, net interest income increased by $1.1 million from $17.4 million during the three months ended March 31, 2024, to $18.5 million for the three months ended March 31, 2025. The increase in net interest income includes an increase of $564 thousand in interest income and a decline of $518 thousand in interest expense.

    Interest and fees on loans increased by $804 thousand related both to an increase in average balance and an increase in yield. Average loan balances increased by $48 million, while the average yield on loans increased by 8 basis points from 6.09% during the first quarter of 2024 to 6.17% during the current quarter. The average prime interest rate decreased from 8.5% during the first quarter of 2024 to 7.5% during the current quarter. Approximately 16% of the Company’s loans are tied to the prime interest rate and most of these reprice within one to three months with a change in prime. The negative effect of the decrease in prime was offset by an increase in average yield on the bank’s fixed rate portfolio which includes growth in fixed rate SBA loans which totaled $74 million at March 31, 2025, and $47 million at March 31, 2024. The weighted average rate earned on this portfolio at March 31, 2025, was 8.3%.

    Interest on investment securities increased by $114 thousand related to an increase in yield on investment securities of 44 basis points to 4.12%. The increase in investment yields is consistent with the partial restructuring of the investment portfolio during the first quarter of 2024. The effect of this increase in yield was mostly offset by a decline of $36 million in average investment securities.

    Interest on cash balances decreased by $354 thousand related to a decline in average balance of $14 million and a decrease in average rate paid on cash balances of 105 basis points from 5.57% during the first quarter of 2024 to 4.52% during the current quarter. This decline in yield was mostly related to a decline in rate paid on balances held at the Federal Reserve Bank (FRB). The average rate earned on FRB balances decreased from 5.40% during the first quarter of 2024 to 4.40% during the current quarter.

    Interest expense decreased by $518 thousand, mostly related to the repayment of the BTFP borrowings as discussed earlier. The average rate paid on interest bearing liabilities decreased from 1.33% during the 2024 quarter to 1.14% in 2025 related mainly to the decrease in these borrowings.

    Interest paid on deposits increased by $710 thousand and is broken down by product type as follows: money market accounts – $770 thousand and savings deposits – $26 thousand. The increase in interest paid on money market accounts mostly relates to an increase in public entity balances. Interest on time deposits declined by $86 thousand related to a decline in average balance of $3 million and a decline in rate paid of 27 basis points. During the second half of 2024 and continuing into 2025, we have offered a premium rate on large balances of public entities in our service area, matching the rate they could earn from the California local agency investment fund. This has led to a significant increase in these balances and an increase in the overall rate paid on money market accounts. The average rate paid on interest-bearing deposits increased from 0.75% during the first quarter of 2024 to 1.11% during the current quarter.

    Net interest margin for the three months ended March 31, 2025, increased 33bp to 4.95%, up from 4.62% for the same period in 2024.

    Non-Interest Income/Expense

    During the three months ended March 31, 2025, non-interest income totaled $3.2 million, an increase of $1.1 million from the three months ended March 31, 2024. The largest component of this increase was the $1.1 million settlement related to the Dixie Fire as discussed earlier.

    During the three months ended March 31, 2025, total non-interest expense increased by $1.1 million from $10.4 million during the first quarter of 2024 to $11.5 million during the current quarter. The largest components of this increase were merger related expenses of $569 thousand. Salary and benefit expense increased by $514 thousand which includes an increase in salary expense of $269 thousand related primarily to merit and promotional salary increases. Related mostly to an increase in pre-tax income, bonus expense increased by $216 thousand. A decrease in deferred loan origination fees of $97 thousand was offset by a decline in commission expense of $137 thousand. Both items mostly relate to a decline in SBA loan production during the comparison quarters. Occupancy and equipment expense increased by $324 thousand from $1.7 million during the first quarter of 2024 to $2.0 million during the current quarter related to an increase of $338 thousand in rent expense related to the February 2024 sales/leaseback transaction.

    Plumas Bancorp is headquartered in Reno, Nevada. Plumas Bancorp’s principal subsidiary is Plumas Bank, which was founded in 1980. Plumas Bank is a full-service community bank headquartered in Quincy, California. The bank operates fifteen branches: thirteen located in the California counties of Butte, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, and Sutter and two branches located in Nevada in the counties of Carson City and Washoe. The bank also operates two loan production offices located in Auburn, California and Klamath Falls, Oregon. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com.

    This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended and Plumas Bancorp intends for 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. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

    Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

    Contact: Jamie Huynh
    Investor Relations
    Plumas Bancorp
    5525 Kietzke Lane Ste. 100
    Reno, NV 89511
    775.786.0907 x8908
    investorrelations@plumasbank.com

    PLUMAS BANCORP
    CONDENSED CONSOLIDATED BALANCE SHEETS  
    (In thousands)
    (Unaudited)
      As of March 31,      
      2025   2024   Dollar
    Change    		   Percentage
    Change
    ASSETS              
    Cash and due from banks $ 87,327   $ 128,231   $ (40,904)   (31.9)%
    Investment securities 447,293   447,445   (152)   (0.0)%
    Loans, net of allowance for credit losses 1,000,651   966,141   34,510   3.6%
    Premises and equipment, net 12,349   12,960   (611)   (4.7)%
    Right-of-use assets 24,003   25,295   (1,292)   (5.1)%
    Bank owned life insurance 16,628   16,206   422   2.6%
    Real estate acquired through foreclosure 91   357   (266)   (74.5)%
    Goodwill 5,502   5,502   –   0.0%
    Accrued interest receivable and other assets 39,448   38,196   1,252   3.3%
    Total assets $ 1,633,292   $ 1,640,333   $ (7,041)   (0.4)%
                   
    LIABILITIES AND              
       SHAREHOLDERS’ EQUITY  
    Deposits $ 1,373,061   $ 1,299,688   $ 73,373   5.6%
    Lease liabilities 24,523   25,424   (901)   (3.5)%
    Accrued interest payable and other liabilities 33,105   33,730   (625)   (1.9)%
    Borrowings 15,000   120,000   (105,000)   (87.5)%
    Total liabilities 1,445,689   1,478,842   (33,153)   (2.2)%
    Common stock 29,454   28,492   962   3.4%
    Retained earnings 179,411   156,414   22,997   14.7%
    Accumulated other comprehensive loss, net (21,262)   (23,415)   2,153   9.2%
    Shareholders’ equity 187,603   161,491   26,112   16.2%
    Total liabilities and shareholders’ equity $ 1,633,292   $ 1,640,333   $ (7,041)   (0.4)%
                   
                   
    PLUMAS BANCORP
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share data)
    (Unaudited)
                   
    FOR THE THREE MONTHS ENDED MARCH 31, 2025   2024   Dollar
    Change    		   Percentage
    Change
                   
    Interest income $ 20,590   $ 20,026   $ 564   2.8%
    Interest expense 2,051   2,569   (518)   -20.2%
    Net interest income before provision for credit losses 18,539   17,457   1,082   6.2%
    Provision for credit losses 250   821   (571)   (69.5)%
    Net interest income after provision for credit losses 18,289   16,636   1,653   9.9%
    Non-interest income 3,213   2,140   1,073   50.1%
    Non-interest expense 11,466   10,397   1,069   10.3%
    Income before income taxes 10,036   8,379   1,657   19.8%
    Provision for income taxes 2,856   2,125   731   34.4%
    Net income $ 7,180   $ 6,254   $ 926   14.8%
                   
    Basic earnings per share $ 1.21   $ 1.06   $ 0.15   14.2%
    Diluted earnings per share $ 1.20   $ 1.05   $ 0.15   14.3%
                   
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
    (Dollars in thousands, except per share data)
    (Unaudited)
                       
      Three Months Ended   Year Ended
      3/31/2025   12/31/2024     3/31/2024     12/31/2024   12/31/2023
    EARNINGS PER SHARE                        
    Basic earnings per share $ 1.21     $ 1.31     $ 1.06     $ 4.85     $ 5.08  
    Diluted earnings per share $ 1.20     $ 1.29     $ 1.05     $ 4.80     $ 5.02  
    Weighted average shares outstanding   5,911       5,900       5,887       5,895       5,863  
    Weighted average diluted shares outstanding   6,002       5,995       5,946       5,968       5,934  
    Cash dividends paid per share 1 $ 0.30     $ 0.27     $ 0.27     $ 1.08     $ 1.00  
                             
    PERFORMANCE RATIOS (annualized for the three months)                
    Return on average assets   1.79 %     1.87 %     1.55 %     1.74 %     1.88 %
    Return on average equity   16.0 %     17.1 %     16.4 %     17.2 %     23.4 %
    Yield on earning assets   5.50 %     5.50 %     5.30 %     5.49 %     5.03 %
    Rate paid on interest-bearing liabilities   1.14 %     1.27 %     1.33 %     1.39 %     0.67 %
    Net interest margin   4.95 %     4.90 %     4.62 %     4.79 %     4.71 %
    Noninterest income to average assets   0.80 %     0.53 %     0.53 %     0.53 %     0.68 %
    Noninterest expense to average assets   2.85 %     2.57 %     2.57 %     2.56 %     2.36 %
    Efficiency ratio 2   52.7 %     50.4 %     53.1 %     51.3 %     46.6 %
                       
      3/31/2025   3/31/2024   12/31/2024   12/31/2023   12/31/2022
    CREDIT QUALITY RATIOS AND DATA                  
    Allowance for credit losses $ 13,319   $ 13,157   $ 13,196   $ 12,867     $ 10,717  
    Allowance for credit losses as a percentage of total loans   1.32     1.35     1.30     1.34 %     1.18 %
    Nonperforming loans $ 3,686   $ 5,610   $ 4,105   $ 4,820     $ 1,172  
    Nonperforming assets $ 3,787   $ 6,000   $ 4,307   $ 5,315     $ 1,190  
    Nonperforming loans as a percentage of total loans   0.36     0.57     0.40     0.50 %     0.13 %
    Nonperforming assets as a percentage of total assets   0.23     0.37     0.27     0.33 %     0.07 %
    Year-to-date net charge-offs $ 127   $ 610   $ 1,046   $ 954     $ 935  
    Year-to-date net charge-offs as a percentage of average   0.05     0.25     0.11     0.10 %     0.11 %
    loans (annualized)        
                       
    CAPITAL AND OTHER DATA                  
    Common shares outstanding at end of period   5,922     5,896     5,903     5,872       5,850  
    Shareholders’ equity $ 187,603   $ 161,491   $ 177,899   $ 147,317     $ 119,004  
    Book value per common share $ 31.68   $ 27.39   $ 30.14   $ 25.09     $ 20.34  
    Tangible common equity3 $ 181,354   $ 155,048   $ 171,606   $ 140,823     $ 112,273  
    Tangible book value per common share4 $ 30.62   $ 26.30   $ 29.07   $ 23.98     $ 19.19  
    Tangible common equity to total assets   11.1     9.5     10.6     8.7 %     6.9 %
    Gross loans to deposits   73.6     75.1     74.1     71.9 %     62.6 %
                       
    PLUMAS BANK REGULATORY CAPITAL RATIOS              
    Tier 1 Leverage Ratio   12.3     11.0     11.9     10.8 %     9.2 %
    Common Equity Tier 1 Ratio   17.8     16.1     17.3     15.7 %     14.7 %
    Tier 1 Risk-Based Capital Ratio   17.8     16.1     17.3     15.7 %     14.7 %
    Total Risk-Based Capital Ratio   19.0     17.4     18.5     16.9 %     15.7 %
     
    (1) The Company paid a quarterly cash dividend of $0.30 per share on February 17, 2025 and a quarterly cash dividend of $0.27 per share on February 15, 2024, May 15, 2024, August 15, 2024 and November 15, 2024 and a quarterly cash dividend of $0.25 per share on February 15, 2023, May 15, 2023, August 15, 2023 and November 15, 2023.
    (2) Efficiency ratio is defined as noninterest expense divided by total revenue (net interest income and total noninterest income).
    (3) Tangible common equity is defined as common equity less core deposit intangibles and goodwill.
    (4) Tangible common book value per share is defined as tangible common equity divided by common shares outstanding.
             
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                           
    The following table presents for the three-month periods indicated the distribution of consolidated average assets, liabilities and shareholders’ equity.
                           
      For the Three Months Ended   For the Three Months Ended
      3/31/2025   3/31/2024
      Average       Yield/   Average       Yield/
      Balance   Interest   Rate   Balance   Interest   Rate
    Interest-earning assets:                      
    Loans (2) (3) $ 1,011,968   $ 15,396   6.17 %   $ 964,132   $ 14,592   6.09 %
    Investment securities   369,126     3,927   4.31 %     371,792     3,605   3.90 %
    Non-taxable investment securities (1)   74,883     583   3.16 %     108,175     791   2.94 %
    Interest-bearing deposits   61,409     684   4.52 %     75,005     1,038   5.57 %
    Total interest-earning assets   1,517,386     20,590   5.50 %     1,519,104     20,026   5.30 %
    Cash and due from banks   26,477             26,586        
    Other assets   86,335             80,508        
    Total assets $ 1,630,198           $ 1,626,198        
                           
    Interest-bearing liabilities:                      
    Money market deposits   279,184     1,145   1.66 %     211,183     375   0.71 %
    Savings deposits   323,449     206   0.26 %     335,565     180   0.22 %
    Time deposits   88,386     545   2.50 %     91,501     631   2.77 %
    Total deposits   691,019     1,896   1.11 %     638,249     1,186   0.75 %
    Borrowings   15,000     145   3.92 %     114,342     1,367   4.81 %
    Other interest-bearing liabilities   21,190     10   0.19 %     21,713     16   0.30 %
    Total interest-bearing liabilities   727,209     2,051   1.14 %     774,304     2,569   1.33 %
    Non-interest-bearing deposits   682,495             673,789        
    Other liabilities   38,096             24,440        
    Shareholders’ equity   182,398             153,665        
    Total liabilities & equity $ 1,630,198           $ 1,626,198        
    Cost of funding interest-earning assets (4)         0.55 %           0.68 %
    Net interest income and margin (5)     $ 18,539   4.95 %       $ 17,457   4.62 %
                           
    (1) Not computed on a tax-equivalent basis.                      
    (2) Average nonaccrual loan balances of $3.8 million for 2025 and $5.6 million for 2024 are included in average loan balances for computational purposes.  
    (3) Net costs included in loan interest income for the three-month periods ended March 31, 2025 and 2024 were $275 thousand and $344 thousand, respectively.  
    (4) Total annualized interest expense divided by the average balance of total earning assets.        
    (5) Annualized net interest income divided by the average balance of total earning assets.        
    PLUMAS BANCORP
    SELECTED FINANCIAL INFORMATION
     (Dollars in thousands)
    (Unaudited)
                   
    The following table presents the components of non-interest income for the three-month periods ended March 31, 2025 and 2024.
                   
      For the Three Months Ended        
      March 31,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Service charges on deposit accounts   705     715       (10 )   (1.4 )%
    Interchange income $ 690   $ 739       (49 )   (6.6 )%
    Loan servicing fees   186     213       (27 )   (12.7 )%
    FHLB Dividends   137     137       –     – %
    Earnings on life insurance policies   109     96       13     13.5 %
    Gain on sale of buildings   –     19,854       (19,854 )   (100.0 )%
    Loss on sale of investment securities   –     (19,826 )     19,826     100.0 %
    Other   1,386     212       1,174     553.8 %
    Total non-interest income $ 3,213   $ 2,140     $ 1,073     50.1 %
                   
    The following table presents the components of non-interest expense for the three-month periods ended March 31, 2025 and 2024.
                   
      For the Three Months Ended        
      March 31,        
        2025     2024     Dollar
    Change    		   Percentage
    Change
    Salaries and employee benefits $ 5,880   $ 5,366     $ 514     9.6 %
    Occupancy and equipment   2,014     1,690       324     19.2 %
    Outside service fees   1,263     1,132       131     11.6 %
    Merger and acquisition expenses   569     –       569     100.0 %
    Advertising and shareholder relations   262     244       18     7.4 %
    Professional fees   229     439       (210 )   (47.8 )%
    Armored car and courier   217     203       14     6.9 %
    Deposit insurance   182     187       (5 )   (2.7 )%
    Telephone and data communication   174     222       (48 )   (21.6 )%
    Director compensation and expense   167     167       –     – %
    Business development   167     153       14     9.2 %
    Loan collection expenses   72     104       (32 )   (30.8 )%
    Amortization of Core Deposit Intangible   44     51       (7 )   (13.7 )%
    Other   226     439       (213 )   (48.5 )%
    Total non-interest expense $ 11,466   $ 10,397     $ 1,069     10.3 %
                   
    PLUMAS BANCORP  
    SELECTED FINANCIAL INFORMATION  
     (Dollars in thousands)  
    (Unaudited)  
                     
    The following table shows the distribution of loans by type at March 31, 2025 and 2024.  
                     
          Percent of       Percent of  
          Loans in Each       Loans in Each  
      Balance at End Category to   Balance at End Category to  
      of Period   Total Loans   of Period   Total Loans  
      3/31/2025   3/31/2025   3/31/2024   3/31/2024  
    Commercial $ 77,745   7.7 %   $ 82,136   8.4 %  
    Agricultural   112,018   11.1 %     123,239   12.6 %  
    Real estate – residential   11,606   1.1 %     11,872   1.2 %  
    Real estate – commercial   660,926   65.4 %     562,870   57.7 %  
    Real estate – construction & land   46,730   4.6 %     64,547   6.6 %  
    Equity Lines of Credit   38,634   3.8 %     37,196   3.8 %  
    Auto   58,295   5.8 %     89,399   9.2 %  
    Other   4,769   0.5 %     4,953   0.5 %  
    Total Gross Loans $ 1,010,723   100 %   $ 976,212   100 %  
                     
       
    The following table shows the distribution of Commercial Real Estate loans at March 31, 2025 and 2024.  
                     
          Percent of       Percent of  
          Loans in Each       Loans in Each  
      Balance at End Category to   Balance at End Category to  
      of Period   Total Loans   of Period   Total Loans  
      3/31/25   3/31/25   3/31/24   3/31/24  
    Owner occupied $ 295,593   44.7 %   $ 194,954   34.6 %  
    Investor   365,333   55.3 %     367,916   65.4 %  
    Total real estate – commercial $ 660,926   100 %   $ 562,870   100 %  
                     
                     
    The following table shows the distribution of deposits by type at March 31, 2025 and 2024.  
                     
          Percent of       Percent of  
          Deposits in Each     Deposits in Each  
      Balance at End Category to   Balance at End Category to  
      of Period   Total Deposits   of Period   Total Deposits  
      3/31/2025   3/31/2025   3/31/2024   3/31/2024  
    Non-interest bearing $ 676,461   49.3 %   $ 665,975   51.2 %  
    Money Market   290,125   21.1 %     214,257   16.5 %  
    Savings   323,496   23.6 %     328,781   25.3 %  
    Time   82,979   6.0 %     90,675   7.0 %  
    Total Deposits $ 1,373,061   100 %   $ 1,299,688   100 %  
                     

    The MIL Network –

  • MIL-OSI: 96% of Enterprises are Expanding Use of AI Agents, According to Latest Data from Cloudera

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., April 16, 2025 (GLOBE NEWSWIRE) — Cloudera, the only true hybrid platform for data, analytics, and AI, released the findings of its latest survey report, “The Future of Enterprise AI Agents.” The survey polled nearly 1,500 enterprise IT leaders across 14 countries to understand their adoption patterns, use cases, and sentiments around AI agents. Results show an overwhelming 96% of respondents have plans to expand their use of AI agents in the next 12 months, with half aiming for significant, organization-wide expansion. The applications for this deployment include performance optimization bots (66%), security monitoring agents (63%), and development assistants (62%).

    For business and IT leaders alike, agentic AI marks a new frontier—moving beyond traditional automation to systems that can reason, act, and adapt in real-time. When implemented effectively, these intelligent agents unlock operational agility, drive cost savings, and dramatically improve customer engagement. As a result, AI agents are quickly becoming a key source of competitive advantage, with 83% of organizations stating that investing in them is crucial to maintaining their edge in the market.

    In addition to the benefits of the technology, Cloudera’s survey answered some of the biggest questions around agentic AI, including:

    • How widely is this being adopted? Adoption is already underway. A majority (57%) of enterprise IT leaders report they’ve implemented AI agents in the past two years—21% in just the last year—signaling rapid momentum that’s only expected to grow.
    • How are organizations deploying agents? Two-thirds (66%) are building agents on enterprise AI infrastructure platforms, while 60% are leveraging agentic capabilities embedded in existing core applications. This hybrid approach reflects a clear preference for scalable, secure, and close-to-data deployments.
    • What’s getting in the way? The top three barriers are data privacy (53%), integration with legacy systems (40%), and high implementation costs (39%). These pain points all stem from a common root: the need for robust, unified data management and governance.
    • Where should companies begin? Start with a contained, high-impact project—such as an internal IT support agent. These “fast-to-value” use cases help teams prove ROI, build internal confidence, and lay the foundation for broader, scaled deployments.

    “AI agents have moved beyond experimentation—they’re now delivering real automation, efficiency, and business results. We’re seeing enterprises run hundreds of models in production, all demanding high-fidelity, well-managed data to drive better outcomes,” said Abhas Ricky, Chief Strategy Officer, Cloudera. “In 2025, agentic AI is taking center stage, building on the momentum of generative AI but with even greater operational impact. Cloudera is enabling this transformation through a robust Enterprise AI Ecosystem, helping global organizations design secure, scalable, and integrated AI workflows that turn data into action.”

    Cloudera’s report also addresses what enterprises are actually doing with AI agents. The top use cases vary by industry, shaped by the specific needs and priorities of each sector:

    • Finance & Insurance: Fraud detection (56%), risk assessment (44%), and investment advisory (38%) are the leading use cases. AI agents are flagging suspicious transactions in real time, simulating market scenarios to evaluate risk, and supporting advisors with personalized investment suggestions.
    • Manufacturing: Top applications include process automation (49%), supply chain optimization (48%), and quality control (47%). Agents are monitoring production lines to catch defects early, rerouting logistics to avoid delays, and streamlining repetitive tasks to improve efficiency.
    • Healthcare: Appointment scheduling (51%), diagnostic assistance (50%), and medical records processing (47%) are the most common use cases. AI agents are reducing admin burden by coordinating schedules, surfacing relevant EMR data, and helping clinicians identify conditions in imaging data.
    • Telecommunications: The telecoms industry is seeing substantial innovation fueled by AI. Customer support bots (49%), customer experience agents (44%), and security monitoring agents (49%) are key deployments. Agents are resolving service issues instantly, flagging at-risk customers using behavior data, and protecting networks from emerging threats.

    To download the full report, click here.

    About Cloudera
    Cloudera is a hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to use their data to solve what once seemed impossible—today and in the future. 

    To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

    Contact
    Jess Hohn-Cabana
    cloudera@v2comms.com

    The MIL Network –

  • MIL-OSI: Goosehead Insurance, Inc. to Report First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    WESTLAKE, Texas, April 16, 2025 (GLOBE NEWSWIRE) — Goosehead Insurance, Inc. (“Goosehead” or the “Company”) (NASDAQ: GSHD) announced today that it will report its first quarter 2025 results after the market close on Wednesday, April 23, 2025.

    The company will hold a conference call to discuss results at 4:30 PM ET on April 23rd. To access the call by phone, participants should go to this link (registration link), and you will be provided with the dial in details. A live webcast of the conference call will also be available on Goosehead’s investor relations website at ir.gooseheadinsurance.com.

    A webcast replay of the call will be available at ir.gooseheadinsurance.com for one year following the call.

    About Goosehead

    Goosehead (NASDAQ: GSHD) is a rapidly growing and innovative independent personal lines insurance agency that distributes its products and services through corporate and franchise locations throughout the United States. Goosehead was founded on the premise that the consumer should be at the center of our universe and that everything we do should be directed at providing extraordinary value by offering broad product choice and a world-class service experience. Goosehead represents over 150 insurance companies that underwrite personal and commercial lines. For more information, please visit goosehead.com or goosehead.com/become-a-franchisee.

    Contacts

    Investor Contact:

    Dan Farrell
    Goosehead Insurance – VP Capital Markets
    Phone: (214) 838-5290
    E-mail: dan.farrell@goosehead.com; IR@goosehead.com

    PR Contact

    Mission North for Goosehead Insurance
    Email: goosehead@missionnorth.com; PR@goosehead.com

    The MIL Network –

  • MIL-OSI: ISO Recertification of xSuite Group’s ISM System

    Source: GlobeNewswire (MIL-OSI)

    Specialist in automated invoice processing successfully completes transition to the updated ISO 27001:2022 standard

    Ahrensburg, Germany – April 16, 2025. TÜV NORD affirms that xSuite Group, an international software manufacturer of applications for document-based processes, operates an information security management system (ISMS) in compliance with the requirements of ISO/IEC 27001:2022. The certificate covers xSuite’s development of software products (cloud and on-premises) for the procedural handling of inbound administrative documents in companies as well as supporting IT operations and other corporate functions.

    Following its initial certification in January 2023, xSuite has now completed the transition to the updated ISO 27001:2022 standard. This once again demonstrates the software manufacturer’s ability to operate an effective ISMS, as was confirmed as part of the latest surveillance audit. ISO/IEC 27001 is the leading international standard for ISMSs, making it one of the most important cyber security certifications. It specifies the conditions such a system must meet. The new certificate is now available and will be provided on request.

    With the transition to the revised standard, the xSuite Group is now drawing on the latest international standards to ensure information security. These specifically take into account current developments in the area of cyber security risks and up-to-date protective measures. The certification underscores the company’s ongoing commitment to the highest security standards and provides customers and partners with a reliable foundation for protecting their sensitive information.

    Matthias Lemenkühler, Chief Product & Technology Officer at xSuite: “The challenges posed by today’s cyber threat situation place high demands on software developers. We are therefore striving to continuously improve the security measures safeguarding our internal processes and products – and the successful transition to ISO 27001:2022 marks an important step in this direction.”

    The xSuite Group uses its company-wide ISMS to define and document all processes and structures, ensuring long-term information security through continuous improvement.

    About xSuite Group

    xSuite is a software manufacturer of applications for document-based processes and provides standardized, digital solutions worldwide that enable simple, secure, and fast work. We focus mainly on the automation of important work processes in conjunction with end-to-end document management. Our core competence lies in accounts payable (AP) automation in SAP (including
    e-invoicing), for leading companies worldwide, as well as for public clients.

    This is supplemented by applications for purchasing and order processes as well as archiving – all delivered from a single source, including both software components and services. xSuite solutions operate in the cloud or in hybrid scenarios.

    We take pride in the high-quality solutions we offer, as evidenced by the regular certifications we receive for our SAP solutions and deployment environments.” With over 300,000 users benefitting from our solutions, xSuite processes more than 80 million documents per year in over 60 countries.

    Founded in 1994 and headquartered in Ahrensburg, Germany, xSuite has around 300 staff across nine locations worldwide – in Europe, Asia, and the United States. Our company has an established information security management system that is certified in accordance with ISO 27001:2022.

    Contact:
    Barbara Wirtz
    xSuite Group GmbH
    Marketing & PR
    Tel. +49 (0)4102/88 38 36
    barbara.wirtz@xsuite.com
    www.xsuite.com

    The MIL Network –

  • MIL-OSI: Vimeo to Report Q1 2025 Earnings and Host Earnings Video Event on May 5, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 16, 2025 (GLOBE NEWSWIRE) — Vimeo, Inc. (NASDAQ: VMEO) today announced the date for its first quarter and fiscal year 2025 earnings report and earnings video event. After the close of market trading on Monday, May 5, 2025, Vimeo will post its results on the Investor Relations section of its website at https://www.vimeo.com/investors. On the same day, at 5:00 p.m. ET, Vimeo will livestream a video conference to answer questions. The live stream and replay of the video will be accessible to the public at https://www.vimeo.com/investors.

    About Vimeo:

    Vimeo (NASDAQ: VMEO) is the world’s most innovative video experience platform. We enable anyone to create high-quality video experiences to better connect and bring ideas to life. We proudly serve our community of millions of users – from creative storytellers to globally distributed teams at the world’s largest companies – whose videos receive billions of views each month. Learn more at www.vimeo.com.

    Contact Us

    Vimeo Investor Relations
    ir@vimeo.com

    Vimeo Communications
    Ronda Morra
    press@vimeo.com

    The MIL Network –

  • MIL-OSI: Sagtec Global Limited (Nasdaq: SAGT) Successfully Deployed the First Batch of Speed+ Smart Cloud Ordering Software Licenses to Indonesia Sole Distributor

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, Malaysia, April 16, 2025 (GLOBE NEWSWIRE) — Sagtec Global Limited (NASDAQ: SAGT) (“Sagtec” or the “Company”), a leading provider of customizable software solutions, announced today the successful deployment of the first batch of its Speed+ Smart Cloud Ordering Software licenses to Indonesia Sole Distributor, marking the Company’s official operational launch in the market.

    This shipment signifies the commencement of Sagtec’s rollout in Indonesia following the Company’s strategic push to expand its presence across Southeast Asia. The Speed+ system — a cloud-based ordering solution designed to digitalize operations for food and retail businesses — is set to empower businesses with tools for real-time order tracking, digital menus, integrated payment systems, and performance analytics.

    “The delivery of our first Speed+ licenses into Indonesia represents a strong validation of our product and regional strategy,” said Kevin Ng, Chairman, Executive Director, and Chief Executive Officer of Sagtec. “As digitalization accelerates across Asia, we are committed to providing high-impact solutions that help businesses stay agile, competitive, and efficient.”

    Speed+ is targeted at restaurants, cafés, and retail chains looking to optimize workflows, improve customer satisfaction, and increase order accuracy. It supports multi-device connectivity and can be customized to suit various operational sizes, from small outlets to multi-location chains.

    With Indonesia’s digital economy forecasted to reach US$60 billion by 2030, and the region’s cloud-based POS market growing at nearly 20% CAGR, this initial shipment lays the groundwork for long-term growth and adoption. Sagtec will continue to monitor local feedback, enhance its support infrastructure, and expand outreach to drive further deployments in the months ahead.

    About Sagtec Global Limited

    Sagtec is a leading provider of customizable software solutions, primarily serving the Food & Beverage (F&B) sector. The Company also offers software development, data management, and social media management to enhance operational efficiency across various industries, including Key Opinion Leaders (KOLs).

    For more information on the Company, please log on to https://www.sagtec-global.com/.

    Contact Information:

    Sagtec Global Limited Contact:
    Ng Chen Lok
    Chairman, Executive Director & Chief Executive Officer
    Telephone +6011-6217 3661  
    Email: info@sagtec-global.com

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/6da26f12-a824-4ec5-aa5c-1bfe44174c10

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3a80cea3-9455-458c-bd77-aaccfde3aa17

    The MIL Network –

  • MIL-OSI: NANO Nuclear Energy Launches Recruitment Drive to Build Full-Scale KRONOS MMR Reactors

    Source: GlobeNewswire (MIL-OSI)

    NANO Nuclear Aims to Expand Engineering and Project Development Team to Support U.S. and Canadian KRONOS MMR Energy System Reactor Construction and Licensing Efforts

    New York, N.Y., April 16, 2025 (GLOBE NEWSWIRE) — Nano Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or the “Company”) is launching a recruitment initiative focused on the Midwest region to support its ambitious plans to construct, demonstrate and gain regulatory approval for full-scale KRONOS MMR Energy Systems in both the United States and Canada.

    NANO Nuclear’s plans to extend its technical and project execution team are critical in the Company’s transition from design to ultimate commercial deployment of the proprietary, stationary KRONOS microreactor. In tandem with upcoming geological characterization work at the University of Illinois Urbana-Champaign (UIUC) site, this workforce build-out will consolidate the expertise and provide the personnel necessary to complete the construction permit application and begin construction of the first KRONOS prototype on the UIUC campus shortly thereafter.

    Rendering of the KRONOS MMRTMEnergy System

    “As we prepare to break ground on the KRONOS reactor prototype at UIUC, it’s time to scale our team to match our vision,” said James Walker, Chief Executive Officer of NANO Nuclear. “This is a call to the best and brightest in nuclear and energy innovation in the Midwest region—we’re building a reactor, and we need you on the team.”

    Now Hiring Across All Core Disciplines

    NANO Nuclear is actively recruiting top talent across a variety of critical disciplines for the KRONOS MMR project. Open positions include:

    • Nuclear Engineers – Fuel & materials, reactor physics, thermal hydraulics, safety, and licensing
    • Mechanical Engineers – design, structural, CAD, balance of plant
    • Electrical Engineers – Instrumentation & control (I&C), power electronics, transmission
    • Civil Engineers & Geotechnical Experts – Site layout, structural foundations, drilling operations
    • Project Managers & Construction Specialists – Full-cycle oversight from permitting through commissioning
    • QA/QC Professionals – Nuclear-grade standards, documentation, and supplier oversight
    • Licensing & Regulatory Affairs Experts – NRC and CNSC compliance and filings
    • Skilled Technicians – Fabrication, assembly, testing, and field support

    Applicants with previous experience in nuclear R&D, DOE national labs, SMR or MMR programs, or international reactor development are especially encouraged to apply.

    “Our collaboration with UIUC will be a critical operations hub for our KRONOS reactor development effort,” said Jay Yu, Founder, Chairman and President of NANO Nuclear. “It will house the growing team that’s building not only our U.S. research reactor, but also laying the foundation for our demonstration reactor deployment in Canada, which will open the path for eventual commercial rollout in both the U.S. and Canada.”

    Canadian Reactor Construction Also in Focus

    In parallel with the UIUC research reactor, Nano Nuclear is actively preparing to construct a KRONOS demonstration reactor in Canada, where it will enter the licensing process under Canadian Nuclear Safety Commission (CNSC) oversight. The effort will establish a second fully licensed KRONOS unit, positioning NANO Nuclear to efficiently move its microreactor technology through construction, demonstration, regulatory licensing and eventual commercialization across North America.

    “Canada represents an incredible opportunity for clean, reliable microreactor deployment,” added Florent Heidet, Chief Technology Officer and Head of Reactor Development of NANO Nuclear. “By expanding our team and bringing additional talents onboard, we ensure we have the capacity to deliver simultaneous full-scale projects in two countries, each with independent regulatory pathways and future market potential.”

    Join the Team Shaping the Future of Nuclear Energy

    NANO Nuclear is a company that doesn’t just imagine the future—it’s engineering it, constructing it and moving towards regulatory licensing for it. With multiple microreactor project in progress, fuel qualification methodology already accepted by the NRC, and strategic partnerships underway, NANO Nuclear is one of the most active and ambitious advanced nuclear developers in the world.

    “This recruitment drive is about finding those who want to be part of history,” said James Walker, Chief Executive Officer of NANO Nuclear. “If you want to help build the next generation of nuclear reactors from the ground up—this is your chance.”

    How to Apply

    Interested candidates can view open positions, including details regarding salary ranges and benefit offerings, and apply directly at:

    https://nanonuclearenergy.com/careers

    For inquiries, please contact:
    Email: careers@nanonuclearenergy.com
    Business Tel: (212) 634-9206

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR™Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

    NANO Nuclear Energy LINKEDIN
    NANO Nuclear Energy YOUTUBE
    NANO Nuclear Energy X PLATFORM

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statement relate to the NANO Nuclear’s recruitment drive and its development, demonstration, licensing and commercial plans, each as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE, the Canadian Nuclear Safety Commission (CNSC) and the U.S. Nuclear Regulatory Commission (NRC), and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI: CUSIP Request Volumes for New Corporate Debt and Equity Instruments Increase in March

    Source: GlobeNewswire (MIL-OSI)

    NORWALK, Conn., April 16, 2025 (GLOBE NEWSWIRE) — CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for March 2025. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a monthly increase in request volume for new corporate debt and equity identifiers, while monthly request volume for new municipal identifiers was slightly lower.

    North American corporate CUSIP requests totaled 8,447 in March, which is up 4.2% on a monthly basis. On an annualized basis, North American corporate requests were down 16.9% over March 2024 totals. The monthly increase was driven by a 2.4% rise in request volume for U.S. corporate debt identifiers and a 5.5% increase in request volume for U.S. corporate equity identifiers.

    The aggregate total of identifier requests for new municipal securities – including municipal bonds, long-term and short-term notes, and commercial paper – fell 1.1% versus February totals. On a year-over-year basis, overall municipal volumes were up 11.4% through the end of March. Texas led state-level municipal request volume with a total of 106 new CUSIP requests in March, followed by California (104) and New York (81).

    “We are seeing a steady volume of new corporate debt and equity issuance throughout the first quarter,” said Gerard Faulkner, Director of Operations for CGS. “As interest rates fluctuate and uncertainty around the future of the U.S. economy continues to grow, it will be interesting to see if that pace continues.”

    Requests for international equity CUSIPs rose 2.6% in March and international debt CUSIP requests fell 5.9%. On an annualized basis, international equity CUSIP requests were up 9.0% and international debt CUSIP requests were up 20.5%.

    To view the full CUSIP Issuance Trends report for March, please click here.

    Following is a breakdown of new CUSIP Identifier requests by asset class year-to-date through March 2025:

    Asset Class 2025 YTD 2024 YTD YOY Change
    Long-Term Municipal Notes 100 63 58.7%
    Private Placement Securities 1,123 912 23.1%
    International Debt 1,793 1,488 20.5%
    U.S. Corporate Debt 8,518 7,285 16.9%
    Municipal Bonds 2,258 1,979 14.1%
    International Equity 434 398 9.0%
    U.S. Corporate Equity 3,115 2,939 6.0%
    Syndicated Loans 700 702 -0.3%
    Canada Corporate Debt & Equity 1,693 1,861 -9.0%
    Short-Term Municipal Notes 192 246 -22.0%
    CDs < 1-year Maturity 2,216 2,880 -23.1%
    CDs > 1-year Maturity 1,803 2,530 -28.7%


    About CUSIP Global Services

    CUSIP Global Services (CGS) is the global leader in securities identification. The financial services industry relies on CGS’ unrivaled experience in uniquely identifying instruments and entities to support efficient global capital markets. Its extensive focus on standardization over the past 50 plus years has helped CGS earn its reputation as the industry standard provider of reliable, timely reference data. CGS is also a founding member of the Association of National Numbering Agencies (ANNA) and co-operates ANNA’s hub of ISIN data, the ANNA Service Bureau. CGS is managed on behalf of the American Bankers Association (ABA) by FactSet Research Systems Inc., with a Board of Trustees that represents the voices of leading financial institutions. For more information, visit www.cusip.com.

    About The American Bankers Association

    The American Bankers Association is the voice of the nation’s $24.2 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.1 trillion in deposits and extend $12.6 trillion in loans.

    For More Information:

    John Roderick
    john@jroderick.com
    +1 (631) 584.2200

    The MIL Network –

  • MIL-OSI: Runway Growth Finance Corp. Announces Date for First Quarter 2025 Financial Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    MENLO PARK, Calif., April 16, 2025 (GLOBE NEWSWIRE) — Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced that it will release its first quarter 2025 financial results after market close on Tuesday, May 13, 2025. Runway Growth will discuss its financial results on a conference call that day at 2:00 p.m. PT (5:00 p.m. ET).

    To participate in the conference call or webcast, participants should register online at the Runway Growth Investor Relations website. Participants are requested to register a day in advance or at a minimum 15 minutes before the start of the call. The earnings call can also be accessed through the following links:

    A replay of the webcast will be available two hours after the call and archived on the same web page for 90 days.

    About Runway Growth Finance Corp.
    Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth is externally managed by Runway Growth Capital LLC, an established registered investment adviser that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.

    Forward-Looking Statements
    Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    IR Contacts:
    Taylor Donahue, Prosek Partners, rway@prosek.com
    Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com

    The MIL Network –

  • MIL-OSI: Rocket Software Celebrates 35 Years of Innovation in IT Modernization

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., April 16, 2025 (GLOBE NEWSWIRE) — Rocket Software, a global technology leader in modernization software, is celebrating 35 years of innovation, growth, and excellence. Trusted by 43 of the Fortune 50, Rocket Software has grown from a start-up focused on enabling IBM solutions into a global enterprise driving the modernization efforts of over 12,500 customers and 750 partners. Founded in 1990 by Andy Youniss and Johan Magnusson Gedda, the company now proudly employs more than 3,200 employees worldwide. Over the decades, the company has modernized billions of lines of code, transformed countless databases, and helped organizations unlock the true potential of their IT infrastructure.

    “Rocket Software has been a catalyst for modernization—and we’re just getting started,” said Milan Shetti, president and CEO of Rocket Software. “We remain committed to bold innovation, empowering our global customers to solve complex IT challenges while modernizing without disruption. Our momentum is unstoppable, and we’re shaping the future of digital transformation. A heartfelt thank you to our incredible Rocketeers for their dedication over the past 35 years. Their hard work and passion are the foundation of our success, and together, we’ll continue to push the boundaries of innovation.”

    A Legacy of Innovation and Growth
    Over the last few years, the company has expanded its global partner program to include leading global system integrators, value-added resellers, and cloud service providers. While the company continues to grow its partner ecosystem, its relationship with IBM has deepened over 35 years. As a longtime IBM partner, the company has worked closely to enhance enterprise modernization solutions, helping businesses optimize their mission-critical IBM systems, ensuring seamless operations and future-ready innovation.

    “AI is fundamentally changing the mainframe experience, empowering developers, operations staff and business users,” said Skyla Loomis, General Manager, IBM Z Software. “IBM Z is built on a foundation of performance, resiliency and trust at the core to help clients create value from their mission-critical applications and data. Congratulations to Rocket Software on this anniversary. We look forward to innovating new AI use cases together that help our mutual clients take full advantage the newly released IBM z17.”

    Rocket Software has spent more than three decades modernizing IT infrastructure, applications, and data for some of the world’s most essential businesses. Building on this legacy, the company continues to drive innovation by helping organizations integrate with hybrid cloud environments, strengthen security, and unlock the power of metadata for AI and analytics-driven decision-making.

    Since its founding, the company has acquired many organizations, including Aldon, ASG Technologies, D3, Key Resources, Shadow, and Zephyr, strengthening its solutions and teams to better serve mission-critical industries such as banking, healthcare, manufacturing, and government. In 2024, the company completed the $2.275 billion acquisition of OpenText’s Application Modernization and Connectivity (AMC) business.

    A Culture of Excellence and Community Commitment
    The company’s success is driven by a strong culture, grounded in its core values of Empathy, Humanity, Trust, and Love. In line with its commitment to developing future software developers, the company established the NextGen Academy, a six-month program offering its employees the opportunity to take on full-time engineering roles. This program provides employees with valuable hands-on experience and mentorship from industry experts.

    To celebrate 35 years of growth, the company is hosting a Community Day on April 16. This initiative, which began over two decades ago, provides employees with dedicated time off to volunteer and create a positive impact in their communities. In recent years, its employees have donated thousands of hours to philanthropic projects around the world.

    Looking ahead, the company remains focused on its mission to help organizations modernize without disruption—today, tomorrow, and for many years to come.

    A Media Snippet accompanying this announcement is available by clicking on this link.

    About Rocket Software
    Rocket Software is a global technology leader in modernization and a partner of choice that empowers the world’s leading businesses on their modernization journeys, spanning core systems to the cloud. Trusted by over 12,500 customers and 750 partners, and with more than 3,200 global employees, Rocket Software enables customers to maximize their data, applications, and infrastructure to deliver critical services that power our modern world. Rocket Software is a privately held U.S. corporation headquartered in the Boston area with centers of excellence strategically located throughout North America, Europe, Asia and Australia. Rocket Software is a portfolio company of Bain Capital Private Equity. Follow Rocket Software on LinkedIn and X or visit www.RocketSoftware.com.

    IBM is a trademark of International Business Machines Corporation.

    Media Contact
    Lacey Darrow
    ldarrow@rocketsoftware.com

    The MIL Network –

  • MIL-OSI: iRhythm Technologies Releases 2024 Corporate Sustainability Report That Demonstrates Ongoing Commitment to Culture of Quality and Sustainability

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 16, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today announced that it has published its 2024 Corporate Sustainability Report, highlighting the company’s efforts to build a sustainable and inclusive future.

    “iRhythm’s core mission is to create a better world for patients by delivering better health and better insights through our trusted solutions and innovative technologies,” said Sumi Shrishrimal, iRhythm’s Chief Risk Officer and leader of Sustainability and Impact. “We accomplish this by being a responsible, ethical, and inclusive company dedicated to the highest standards of quality and excellence across our business as we execute upon our long-term strategic growth plan. I am so proud of the work our teams do every day, and our 2024 Corporate Sustainability Report reflects how we make cardiac monitoring more accessible, how we enable providers to better detect and prevent disease, and how we impact our communities as a global company.”

    The 2024 Corporate Sustainability Report details sustainability accomplishments across four key pillars:

    • Quality and Sustainable Technology Innovation highlights include enhancing our quality systems, improving our customers’ experience through Electronic Health Record (EHR) integration and innovative product launches, securing a strategic licensing agreement to advance connected patient care, and forming an Artificial Intelligence (“AI”) Governance Steering Committee to address AI risks and opportunities in alignment with the company’s strategic goals
    • Access and Health Equity highlights include expanding globally by launching commercially in four European countries (Austria, the Netherlands, Spain, and Switzerland) and receiving regulatory approval from the Japanese Pharmaceutical and Medical Device Agency for the Zio® 14-day, long-term continuous ECG monitoring system
    • Workforce and Inclusion highlights include refreshing our core values to define the workplace culture we would like to shape going forward, revising our code of conduct to provide employees with resources and guidance needed to operate with unquestionable integrity, and introducing new recognition opportunities to celebrate employees who elevate the company’s values through their work
    • Environmental Impact highlights include completing inventory of Scope 3 greenhouse gas emissions, achieving 89.5% landfill waste diversion across our operations, obtaining ISO 14001:2015 Environmental Management Systems Certification, completing a life cycle analysis (LCA) of our products, and being named to Newsweek’s list of America’s Greenest Companies for 2025

    For more information about iRhythm’s corporate sustainability efforts, please visit our Corporate Sustainability page here.

    About iRhythm Technologies
    iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all. To learn more, please visit https://www.irhythmtech.com/.

    Investor Contact
    Stephanie Zhadkevich
    investors@irhythmtech.com

    Media Contact
    Kassandra Perry
    irhythm@highwirepr.com

    The MIL Network –

  • MIL-OSI: Biz2Credit Small Business Earnings Report Finds SMB Earnings Continue to Rise in March 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 16, 2025 (GLOBE NEWSWIRE) — Biz2Credit’s monthly Small Business Earnings Report for March 2025 found that average monthly earnings were up to $38,600, an increase of $1,500 from February’s number. This continued rise in earnings is a welcome sign amidst the recent uncertainty within the stock market.

    Key Findings for March 2025

    • Average Monthly Earnings: $38,600. (Feb. 2025: $37,100 – an increase of $1,500)
    • Average Monthly Revenue: $531,900. (Feb. 2025: $627,900 – a decrease of $96,000)
    • Average Monthly Expenses: $493,300. (Feb. 2025: $590,800 – a decrease of $97,500)

    A year ago (March 2024), average revenues were $692,900, while average expenses were $651,200. Average earnings were $41,700, a figure that is $3,100 more than the average earnings in March 2025.

    “Although average revenues were down, expenses declined by an even wider margin, and the net result was higher earnings for small businesses in March,” said Rohit Arora, CEO and co-founder of Biz2Credit.

    “Right now, there is uncertainty for small business owners because of the tariffs that President Trump announced on ‘Liberation Day’ and ambiguity whether they will remain. Higher tariffs will mean higher prices, since businesses will pass the cost onto consumers,” added Arora, one of the nation’s leading experts in small business finance. “We don’t yet know which countries will negotiate and which ones will retaliate. Small business owners are preparing for higher costs, and that will impact their bottom lines.”

    The Biz2Credit Small Business Earnings Report summarizes primary data of companies that applied for funding each month. It assesses the financial health of small businesses by analyzing primary data provided directly by small to midsized firms in the U.S. as part of the application process on Biz2Credit’s award-winning digital funding platform. The report provides one of the most up-to-date readings on the financial health of small businesses currently available. Click here to review the Small Business Earnings Report.

    Methodology
    Biz2Credit examines a number of small business financial metrics in the Small Business Earnings Report, including annual revenue, operating expenses, age of business, credit score, approval rate, and funding rate. Data is drawn from over 100,000 completed financing applications submitted to Biz2Credit’s online small business funding platform between Jan. 2022 and Mar. 2025. (The numbers were extracted from non-PPP loan applications.)

    About Biz2Credit
    Founded in 2007, Biz2Credit has helped thousands of companies access more than $10 billion in small business financing. The company is expanding its industry-leading Biz2X technology in custom digital platform solutions for banks and other financial institutions, investors, and service providers. Visit www.biz2credit.com, LinkedIn, Instagram, Facebook, and X (formerly Twitter).

    Editor’s Note: A spreadsheet of three years’ worth of earnings data is available upon request.

    Media Contact: Brett Holzhauer, (818) 326-1109, brett.holzhauer@biz2credit.com

    The MIL Network –

  • MIL-OSI: Intermex to Release First Quarter 2025 Earnings

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, April 16, 2025 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI), also known as Intermex, will release its First Quarter 2025 earnings before the start of trading on Wednesday, May 7, 2025. The Intermex management team will be hosting a conference call on the same day at 9:00 am ET.

    Interested parties are invited to join the discussion and gain firsthand knowledge about Intermex’s financial performance and operational achievements through the following channels:

    • A live broadcast of the conference call may be accessed via the Investor Relations section of Intermex’s website at https://investors.intermexonline.com/.
    • To participate in the live conference call via telephone, please register HERE. Upon registering, a dial-in number and unique PIN will be provided to join the conference call.
    • Following the conference call, an archived webcast of the call will be available for one year on Intermex’s website at https://investors.intermexonline.com/.

    About International Money Express, Inc.
    Founded in 1994, Intermex applies proprietary technology, enabling consumers to send money from the United States, Canada, and Europe to more than 60 countries. The Company provides the digital movement of money through a network of agent retailers in the United States, Canada, and Europe; Company-operated stores; our mobile app; and the Company’s websites. Transactions are fulfilled and paid through thousands of retail and bank locations around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.

    Investor Relations:
    Alex Sadowski
    Investor Relations Coordinator
    Tel: 305-671-8000
    IR@intermexusa.com

    The MIL Network –

  • MIL-OSI: Dayforce to Announce First Quarter 2025 Financial Results on May 7th and Participate in Upcoming Investor Conferences

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS and TORONTO, April 16, 2025 (GLOBE NEWSWIRE) — Dayforce, Inc. (NYSE:DAY) (TSX:DAY), a global human capital management (HCM) leader that makes work life better, announced today the date for the release of its first quarter 2025 earnings and its participation at upcoming investor conferences.

    First Quarter 2025 Earnings Date

    Dayforce will release first quarter 2025 financial results before the open of regular market trading on Wednesday, May 7, 2025.

    The company will host a live webcast and conference call at 8:00 a.m. Eastern Time on May 7, 2025 to discuss the aforementioned financial results. Those wishing to participate via the webcast should access the call through the Investor Relations section of the Dayforce website. Those wishing to participate via the telephone may dial in at 877-497-9071 (USA) or 201-689-8727 (International). The webcast replay will be available through the Investor Relations section of the Dayforce website.

    Upcoming Investor Conferences

    Members of Dayforce management will participate in the following investor conferences:

    • The J.P. Morgan Global Technology, Media and Communications Conference at the Westin Boston Seaport District Hotel in Boston, Massachusetts on Tuesday, May 13, 2025.
    • The Baird Global Consumer, Technology and Services Conference at the InterContinental New York Barclay in New York City on Tuesday, June 3, 2025.
    • The BMO Virtual Software Conference on Monday, June 9, 2025.
    • The Mizuho Technology Conference at the Conrad New York Downtown in New York City on Tuesday, June 10, 2025.

    A live webcast and replay of the presentations will be available through the Dayforce Investor Relations website. Management will also be available for one-on-one and small group meetings with investors.

    About Dayforce

    Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, Pay, Time, Talent, and Analytics equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.

    Source: Dayforce, Inc.

    For more information, contact:

    David Niederman
    Investor Relations
    1-844-829-9499
    investors@dayforce.com

    The MIL Network –

  • MIL-OSI: Questor Announces December 31, 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, April 16, 2025 (GLOBE NEWSWIRE) — Questor Technology Inc. (“Questor” or the “Company”) (TSX-V: QST) announced today its financial and operating results for the fourth quarter and year ended December 31, 2024.  

    Questor’s audited Condensed Consolidated Financial Statements and Management’s Discussion and Analysis for the year ended December 31, 2024 are available on the Company’s website at www.questortech.com/quarterly-reports and at www.sedarplus.ca.

    Unless otherwise noted, all financial figures are presented in Canadian dollars, prepared in accordance with International Financial Reporting Standards and are unaudited for the three months ended December 31, 2024.

    FOURTH QUARTER AND 2024 CONSOLIDATED FINANCIAL RESULTS

      Three months ended December 31,   Twelve months ended December 31,  
    For the 2024   2023   2024   2023  
    (Stated in CDN $)        
    Revenue 1,775,892   1,445,128   4,520,580   7,190,871  
    Gross profit 595,405   738,031   1,233,410   2,730,907  
    Adjusted EBITA(1) 5,246   152,543   (1,450,452)   488,787  
    Loss for the period (1,041,393)   (891,982)   (3,233,997)   (4,806,412)  
    Loss per share – basic and diluted (0.04)   (0.03)   (0.12)   (0.17)  
             
    As at         December 31, 2024     December 31, 2023  
    (Stated in CDN $)        
    Working capital(2)     7,570,934   11,844,178  
    Total assets     24,090,332   27,125,820  
    Total equity     21,110,076   24,357,652  

    (1)Non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” section at the end of this MD&A.
    (2)Working capital is defined as total current assets less total current liabilities.

    Revenue for the three and twelve months ended December 31, 2024 was $1.8 million and $4.5 million compared to $1.4 million and $7.2 million for the same periods in 2023. The reduction was mainly attributed to a strategic shift in Questor’s business focus towards the international market. Questor’s USA sales team was hired in the second half of 2024 with a focus on rebuilding rental and sales revenue lost primarily due to merger and acquisition activity combined with regulatory changes in the space over the past few years. The revenue focus is primarily in the Permian basin, Colorado, North Dakota, New Mexico and Wyoming. The company is exploring potential rental opportunities in Mexico, with rental activities set to begin in Q1 2025. While short-term results were impacted by the change in our client base combined with regulatory changes, our refreshed focus on global markets with opportunities to eliminate methane and VOC emissions will position the Company for stronger, more diversified and ultimately more sustainable growth in the long term. As at the date of this press release, the Company has secured $4.5 million of committed equipment sales revenue, expected to be fulfilled in the first half of 2025.

    Gross profit as a percentage of revenue for the three and twelve months ended December 31, 2024 was 34 percent and 27 percent compared to 51 percent and 38 percent for the same periods in 2023. The reduction for the twelve and three months ended December 31, 2024 compared to the prior periods is mainly due to a lower revenue, where the Company continues to incur fixed costs and due to the revenue and sales mix. Additionally, 2024 cost of sales expense benefited from the absence of a $0.2 million valuation allowance for slow-moving inventory, which was recognized in 2023.

    Adjusted EBITDA for the three and twelve months ended December 31, 2024 was nil and negative $1.5 million, compared to positive $0.2 million and $0.5 million for the same periods in 2023. The reduction in Adjusted EBITDA is mainly due to lower revenue, where the Company continues to incur operational and administrative fixed costs.

    The Company continues to have a strong financial position at December 31, 2024 including cash and cash equivalents of $5.3 million, $1.7 million of highly liquid short-term investments, and working capital of $7.6 million.

    2024 HIGHLIGHTS AND SUBSEQUENT EVENTS

    In the fourth quarter of 2024, Questor received the final payment of $1,393,246 for the milestone one of the Waste Heat to Power project from Sustainable Development Technology Canada (“SDTC”).

    The construction of the 1500kW waste heat to power prototype neared completion in Q4, with final testing underway in Q1 2025. Commissioning is scheduled to begin in Q2 2025. Meanwhile, Questor has advanced negotiations and preparations for the prototype’s field demonstration, with the field deployment expected in the second half of 2025.

    On February 9, 2024, Questor commenced Normal Course Issuer Bid (“NCIB”) allowing Questor to purchase a maximum of 1,400,000 common shares over the 12-month period for cancellation. NCIB is effective until the earliest of (i) February 7, 2025, (ii) the Company purchasing the maximum of 1,400,000 Shares, and (iii) the Company terminating the NCIB. In connection with the current NCIB, Questor entered into an automatic share purchase plan (“ASPP”) with its designated broker to enable the purchase of shares during blackout periods during which the Company would not ordinarily be permitted to purchase shares. Purchases under the ASPP during those periods are determined by the designated broker in its sole discretion based on the purchasing parameters set by Questor in accordance with the rules of the TSX Venture Exchange, applicable securities laws and the terms of the ASPP. Outside of the periods noted above, purchases under the current NCIB are completed at Questor’s discretion. As of December 31, 2024 under the current NCIB and the instructions in place with the broker, Questor purchased for cancellation of 671,500 shares for the weighted average of $0.48. Subsequent to the year-end, the Company’s NCIB expired and was formally concluded on February 7, 2025. As a result of the NCIB, which was active from February 9, 2024 to February 7, 2025, the Company repurchased and cancelled a total of 731,500 shares at a weighted average price of $0.47 per share.

    In the first quarter of 2025, Questor announced a $0.9 million purchase order to supply clean combustion solutions for managing railcar vapours at Caltrax Inc.’s Calgary facility. During the same period, the company also secured a $2.4 million contract in Iraq, marking the second unit supplied in the MENA region for a leading global exploration and production company focused on reducing flaring and methane emissions.

    PRESIDENT’S MESSAGE

    The global regulatory landscape for emissions is rapidly evolving, with increasing pressure from regulators, courts, investors, and the public to reduce flaring and venting in industrial operations. As a result, Questor is seeing significant global interest in our technology solutions to help address these critical challenges.

    Flaring and venting not only waste valuable resources but also contribute significantly to air pollution. This practice releases methane, hydrocarbons, fine particulates (PM2.5), and volatile organic compounds (VOCs) such as benzene, toluene, ethylbenzene, xylene, formaldehyde, and acetaldehyde into the atmosphere. These harmful pollutants have been directly linked to higher cancer rates, respiratory diseases, and other chronic health conditions. Methane, in particular, is a climate “super pollutant” with 86 times the warming potential of carbon dioxide over 20 years. It is responsible for 30% of observed global warming to date, making it a key target for climate change mitigation.

    At Questor, we offer proven solutions to combat these challenges. Our ISO 14034-certified thermal oxidizer achieves a 99.99% combustion efficiency, ensuring that our clients can demonstrate compliance with emissions standards and eliminate the release of harmful pollutants. This clean combustion technology significantly reduces health risks in surrounding communities, including respiratory illnesses and cancers. Additionally, our organic Rankine cycle (ORC) repurposes heat from methane combustion, creating a revenue stream that offsets the costs of achieving net-zero carbon dioxide equivalent emissions.

    Many major oil and gas producers have pledged to reduce flaring, venting, and methane emissions while working toward net-zero goals. Questor’s innovative combination of clean combustion and waste heat-to-power technology enables our clients to meet these all these commitments at a net-zero cost.

    Questor’s multi-year strategy to intentionally diversify revenue streams globally has focussed on those jurisdictions that have created favorable conditions that have considered the environmental and social impacts of energy production and want to grow their future production in a sustainable manner. As an example, the Iraq contract awarded early 2025 in partnership with OilSERV was for TotalEnergies EP Ratawi Hub, as a part of the multi-energy Gas Growth Integrated Project (GGIP) operated by TotalEnergies. The GGIP is designed to enhance the development of Iraq’s natural resources to improve the country’s electricity supply. This 4-in-1 project comprises the recovery of gas that is currently flared at three oil fields in southern Iraq to supply electric power plants, the redevelopment of the Ratawi oil field, the construction of a 1 GWac (1.25GWp) solar farm and of a seawater treatment plant. The Questor Q5000 Unit will initially treat 2.1 MMSCFD of associated gas during the pilot phase. Subsequently, the unit will treat an additional 1.2 to 2 MMSCFD of low-pressure gas, maximizing the Q5000’s potential and reducing site GHG emissions in the frame of AGUP Phase 1 development. This is the second unit that TotalEnergies has purchased in the Middle East North Africa (MENA) region. TotalEnergies exemplifies the ideal partner for Questor’s solutions, utilizing our thermal oxidizer to reduce methane and VOC emissions, and the future potential of utilizing waste-heat in the GGIP and converting it to power with our 1.5MW Organic Rankin Cycle (ORC) generator.

    To accelerate global adoption, we have partnered with key industry leaders. In Iraq, we collaborate with OilSERV, a top-tier integrated oilfield services provider in the Middle East. In Nigeria, we are represented by Ar-Rahman Technical Services Nig. Limited. In Latin America, our partnership with Hoerbiger, an established multinational company with over 120 locations in 50 countries, further expands our reach. In Mexico, we work with JHJ and GSM Carso, leading service providers supplying units to Pemex. Over the past three years, we have built strong relationships with these partners, educating them on our technology and supporting them in client engagements. With a 25-year track record of eliminating flaring and venting, we are confident that Questor can set the standard for best practices in these regions.

    As global incentives for methane and VOC reduction continue to grow, Questor is uniquely positioned to help clients improve environmental performance while strengthening their community relations. We anticipate that both new and existing clients will view Questor as the ideal partner to accelerate the attainment of their environmental pledges—reducing emissions while simultaneously cutting costs and generating revenue.

    Finally, we acknowledge the evolving political and economic landscape and its potential impact on our operations. We have assessed the risks associated with tariffs and remain confident in our ability to adapt. With strategically positioned inventory in Canada and the United States and established supply chains across North America, Questor is well-prepared to navigate uncertainties. Our global partnerships further diversify our revenue streams, ensuring continued resilience and growth.  

    As we move forward, Questor remains committed to driving innovation, sustainability, and global leadership in emissions reduction.

    FORWARD LOOKING STATEMENTS

    Certain information in this news release constitutes forward-looking statements. When used in this news release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. This news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

    ABOUT QUESTOR TECHNOLOGY INC.

    Questor Technology Inc., incorporated in Canada under the Business Companies Act (Alberta) is an environmental emissions reduction technology company founded in 1994, with global operations. The Company is focused on clean air technologies that safely and cost effectively improve air quality, support energy efficiency and greenhouse gas emission reductions. The Company designs, manufactures and services high efficiency clean combustion systems that destroy harmful pollutants, including Methane, Hydrogen Sulfide gas, Volatile Organic Hydrocarbons, Hazardous Air Pollutants and BTEX (Benzene, Toluene, Ethylbenzene and Xylene) gases within waste gas streams at >99.99 percent efficiency per its ISO 14034 Certification. This enables its clients to meet emission regulations, reduce greenhouse gas emissions, address community concerns and improve safety at industrial sites.

    The Company also has proprietary heat to power generation technology and is currently targeting new markets including landfill biogas, syngas, waste engine exhaust, geothermal and solar, cement plant waste heat in addition to a wide variety of oil and gas projects. The combination of Questor’s clean combustion and power generation technologies can help clients achieve net zero emission targets for minimal cost. The Company is also doing research and development on data solutions to deliver an integrated system that amalgamates all the emission detection data available to demonstrate a clear picture of the site’s emission profile.

    The Company’s common shares are traded on the TSX Venture Exchange under the symbol “QST”. The address of the Company’s corporate and registered office is 1920, 707 – 8th Avenue S.W. Calgary, Alberta, Canada, T2P 1H5.

    QUESTOR TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL ‘QST’

    Investor Relations Contact

    Aly Sumar – Chief Financial Officer

    investor@questortech.com

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

    This document is not intended for dissemination or distribution in the United States.

    The MIL Network –

  • MIL-OSI: Richtech Robotics Announces an Agreement to Purchase an Approximately 20,000 Square Foot Property to Expand Its Headquarters 

    Source: GlobeNewswire (MIL-OSI)

    New Las Vegas-based facility plans to increase manufacturing and assembly capacity by 400% and accommodate further integration of domestic supply chain

    Las Vegas, NV, April 16, 2025 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or “the Company”), a Nevada-based provider of AI-driven service robots, announced the entry of a purchase and sale agreement for the purchase of a piece of land located at 2975 Lincoln Road, Las Vegas, Nevada (“Lincoln Property”), covering approximately 20,000 square feet, to expand its headquarters. The acquisition of the Lincoln Property is scheduled to close on or before May 15, 2025, and is expected to quadruple the Company’s assembly and manufacturing footprint for its robotics solutions, supporting increased demand and future growth.

    “Richtech Robotics is experiencing rapid growth in demand for our AI-powered service robots,” said Matt Casella, President of Richtech Robotics. “At the same time, we remain committed to strengthening our domestic supply chain. Staying in Las Vegas is a strategic decision for a variety of reasons, and this new facility gives us the expanded capacity and flexibility needed to scale with the increasing interest in our robotics solutions.”

    The Company anticipates the new facility will ultimately result in long-term cost savings compared to their previous rental arrangement. In addition to the expanded assemble and manufacturing capacity, the new headquarters is also expected to include a dedicated studio for content creation.

    As part of its continued expansion, Richtech Robotics has also signed a lease for a new office in Newark, California, located near the heart of Silicon Valley. Engineers who have undergone training at the Las Vegas headquarters will now begin working out of the Newark location, helping to further develop and deploy the Company’s AI and robotics platforms.

    Richtech Robotics maintains its commitment to U.S. assembly and manufacturing, with flagship ADAM and Scorpion robot systems being engineered, developed, and assembled in the Company’s Las Vegas headquarters. These systems feature American-engineered control technologies and are powered by NVIDIA-based operating platforms. The Company also regularly seeks to expand the reach of its supply chain to increase the use of U.S. sourced materials.

    About Richtech Robotics

    Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com.

    Forward Looking Statements

    Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the performance of Richtech Robotics’ products, the targeted closing date of the Lincoln Property, and the increase of manufacturing and assembly capacity as a result of the acquisition of the Lincoln Property.

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the targeted closing date of the Lincoln Property, the increase of manufacturing and assembly capacity as a result of the acquisition of the Lincoln Property, and the ability of AI-powered robotic solutions to improve efficiency. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on March 4, 2025, the IPO registration statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

    Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:

    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com

    Media: 
    Timothy Tanksley
    Director of Marketing
    Richtech Robotics, Inc
    press@richtechrobotics.com
    702-534-0050

    Attachment

    The MIL Network –

  • MIL-OSI: Melissa Accelerates FedRAMP Momentum with Webinar for Government IT Resellers

    Source: GlobeNewswire (MIL-OSI)

    RANCHO SANTA MARGARITA, Calif., April 16, 2025 (GLOBE NEWSWIRE) — In response to a changing regulatory landscape, Melissa is building on its FedRAMP® Authorization with a webinar to support IT value-added resellers (VARs) and government consultants. A global leader in data quality and address management solutions, Melissa will host a live online event on Thursday, April 24, 2025, at 2pm Eastern/11am Pacific, offering expert technical guidance to standardize, validate, verify, and enhance the people data used in public sector operations. The session, “Ensure Accurate, Up-to-Date Address Data with Melissa’s GovCloud Address Suite,” is designed to arm IT partners with the know-how to deliver pre-authorized, compliant address verification services to federal and state clients—streamlining the next wave of secure cloud modernization.

    “Our FedRAMP status gives agencies and their IT partners a clear head start. We’ve already cleared the hurdles, making it easy for IT resellers to plug in and deliver immediate value to their government clients,” said Bud Walker, Chief Information Officer at Melissa.

    With recent FedRAMP updates reducing barriers to vendor entry, the public sector cloud marketplace is rapidly expanding. Melissa stands out as an early, proven player, giving IT VARs and consultants a low-friction way to add FedRAMP-approved data tools to their portfolio—and start selling today. Melissa’s GovCloud Address Suite offers:

    • Global address validation & geocoding
    • USPS® NCOALink® processing
    • Multisource reference data & address correction
    • Turnkey compliance with cloud, privacy, and postal standards

    These tools are now deployable via secure cloud infrastructure, backed by Melissa’s four decades of address intelligence and identity verification expertise.

    “With FedRAMP opening the door to more cloud innovation, we’re not just early—we’re trusted. Our tools are already in place, tested, and ready to serve agencies looking to streamline operations, reduce fraud, and improve service delivery,” said Walker. “This is also a game-changer for any VAR building long-term government relationships and recurring revenue streams.”

    Register here for the event spotlighting how Melissa, a USPS® Full-Service Provider Licensee for CASS™, DPV® and NCOALink®, can help reduce undeliverable mail, improve data accuracy, and boost citizen engagement by using the Move Update service in its GovCloud Address Suite, available now at the FedRAMP® marketplace.

    To learn more about Melissa’s FedRAMP-authorized GovCloud solutions or to explore VAR partnership opportunities, visit www.melissa.com or call 1-800-MELISSA.

    About Melissa
    Powering clean customer data for 40 years, Melissa is the Address Expert. Providing address validation, address autocomplete, and geo-verified address data for 240+ countries, Melissa supports global businesses with its offices across five continents. Melissa’s suite of data quality, ID verification, and location data tools and services drives better decision-making, reduced costs, increased efficiency, and improved compliance. Our APIs, CRM and ecommerce integrations, and online tools help Melissa’s 10,000 customers worldwide process billions of addresses daily, fully capitalizing on the business value of customer data. For more information, visit www.Melissa.com or call 1-800-MELISSA (635-4772).

    Media contacts
    Greg Brown
    Vice President, Global Marketing, Melissa
    greg.brown@Melissa.com
    +1-800-635-4772 x1130

    MPoweredPR for Melissa
    pr@mpoweredpr.com
    +1-877-794-6777

    The MIL Network –

  • MIL-OSI: Aviva’s Charged for Change Program to Power Up another 10 Canadian Communities with EV Charging Stations

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 16, 2025 (GLOBE NEWSWIRE) — Aviva Canada is thrilled to announce that an additional 10 communities across Canada will soon be equipped with Level 2 electric vehicle (EV) charging stations thanks to its Charged for Change program, presented in partnership with Earth Day Canada. This year also marks the first time the program will fund EV infrastructure projects on First Nations territory.

    The recipients are:

    • We’koqma’q First Nation, NS
    • qathet Regional District, BC
    • Municipality of Neguac, NB
    • Village of Arcadia, NB
    • Municipality of Thames Centre, ON
    • Town of Essex, ON
    • Town of Fort Erie, ON
    • Town of Otterburn Park, QC
    • Town of Gravelbourg, SK
    • Town of Radisson, SK

    Charged for Change is an initiative aimed at addressing barriers to EV adoption in communities that lack adequate access to public charging infrastructure. Since 2021, this $3 million partnership has enabled municipalities and Indigenous communities to apply for funding to install Level 2 EV charging stations. In its first two years, the program successfully provided funding for public charging stations to 15 municipalities across Canada.

    “We’re grateful for the enthusiastic response from municipalities to our Charged for Change initiative, and pleased that Aviva has made a positive difference in multiple communities across the country,” stated Pascal Dessureault, Aviva Canada’s Chief Public Affairs, Marketing and Communications Officer. “While this marks the final year of the program, we know there’s still so much more to be done to support the climate transition and we’re eager to explore those opportunities.”

    Valérie Mallamo, Executive Director of Earth Day Canada, added, “For three years, Charged for Change and our partnership with Aviva Canada has supported small, rural communities across Canada in making their EV public infrastructure projects a reality. We’re very excited for this final cohort of communities to benefit from the program and to see them support EV adoption for their residents.”

    Testimonials from year three Charged for Change recipients:

    “The addition of new EV charging stations reflects Fort Erie’s ongoing commitment to building a greener future. This grant allows us to expand our efforts to combat climate change. It’s encouraging to see our community take tangible steps towards continued sustainability, such as welcoming our first EV and enhancing local charging infrastructure.”
    — Wayne Redekop, Mayor, Town of Fort Erie

    “We’koqma’q First Nation applied for Charged for Change funding because we are committed to building a greener, more sustainable future for our community. With the climate challenges we face, including rising water levels and increased flooding, we know the importance of taking action now. This funding allows us to invest in cleaner transportation and infrastructure, helping us reduce emissions and move towards energy independence. Receiving this support is a huge step forward for our community, and we are excited about the positive impact it will have for generations to come.”
    – Jordan Keeling, Director of Public Works, We’koqma’q First Nation

    “The qathet Regional District is proud to have been selected for the Charged for Change program, which will help bring much-needed public EV charging infrastructure to our rural, remote, and island communities, including Texada Island. By expanding access to EV charging in underserved areas, we are supporting sustainable transportation, reducing greenhouse gas emissions, fostering tourism, and strengthening local and regional economies. This funding is a crucial step in advancing our climate action goals and ensuring a more connected and resilient future for our communities.”
    – Mikhael Drosdovech, Manager of Assets and Capital Projects, qathet Regional District

    About Aviva Canada

    Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, lifestyle, and business insurance to 2.5 million customers coast to coast. A subsidiary of UK-based Aviva plc, we have the financial strength, scale and are a trusted insurance provider globally for more than 325 years.

    For more information, visit aviva.ca or Aviva Canada’s blog, LinkedIn and Instagram pages.

    The MIL Network –