Category: Intelligence

MIL-OSI USA: Rep. Dan Goldman Blasts Hill Republicans for Exacerbating Violence and Disorder at Metropolitan Detention Center

Source: US Congressman Dan Goldman (NY-10)

17 Inmates Have Died at the Metropolitan Detention Center Since 2020, Largely Due to Staffing Shortages and Poor Wages

Trump Admin Has Terminated Retention Bonuses for Bureau of Prison Correctional Officers and Cancelled Their Collective Bargaining Agreements

President’s FY26 Budget Does Not Include Funding for Law Mandating Meaningful Oversight of Federal Prisons

Rep. Dan Goldman: We must be living in Fantasyland. We’re trying to have a normal hearing doing oversight of the Bureau of Prisons when the President and Elon Musk are taking a hatchet to the Bureau, canceling the collective bargaining agreement for all of the correctional officers, eliminating retention bonuses for the correctional officers while making sure that every masked undercover Gestapo agent with ICE gets a $40,000 bonus.”

Rep. Dan Goldman: “My colleagues sit over there acting as if they’re really interested in correcting the Bureau of Prisons and all the problems that we have there. Then put some money where it is, because we all know that’s how you correct the problem. That’s how you implement the First Step Act. That’s how you implement and fund the Federal Prison Oversight Act, a bipartisan bill that we passed last Congress that has not been funded and can’t do anything.

Watch Full Committee Remarks Here

Washington, DC – Congressman Dan Goldman (NY-10) today at a House Judiciary Committee hearing condemned the impact of the Trump administration’s policies on the Brooklyn Metropolitan Detention Center (MDC) in his district, where 17 inmates have died since 2020, in large part due to correctional officers’ inability to effectively oversee the prison due to staffing shortages. The Congressman highlighted how the Trump administration is undermining the safety and security of both prison inmates and staff by eliminating corrections officers’ collective bargaining agreements and staff retention bonuses.

A rush transcript of Congressman Goldman’s committee remarks is below:

Congressman Goldman: Thank you very much, Mr. Chairman. And I would ordinarily appreciate this hearing very much, because the Bureau of Prisons is a critical component of the Department of Justice that is woefully underfunded and struggling to implement their mission.

But we must be living in Fantasyland. We’re trying to have a normal hearing doing oversight of the Bureau of Prisons when the President and Elon Musk are taking a hatchet to the Bureau, canceling the collective bargaining agreement for all of the correctional officers, eliminating retention bonuses for the correctional officers while making sure that every masked undercover Gestapo agent with ICE gets a $40,000 bonus. In fact, the bill you passed last week, that Republicans passed last week would give $12 billion in pay increases and bonuses to ICE and CBP, and nothing to the Bureau of Prisons.

And yet my colleagues sit over there acting as if they’re really interested in correcting the Bureau of Prisons and all the problems that we have there. Then put some money where it is, because we all know that’s how you correct the problem. That’s how you implement the First Step Act. That’s how you implement and fund the Federal Prison Oversight Act, a bipartisan bill that we passed last Congress that has not been funded and can’t do anything.

You are passing a partisan reconciliation bill. You have the purse strings. And yet we’re supposed to sit here thinking that you’re really serious about making sure that we’re helping the corrections officer. It’s just bogus.

And let’s take the Metropolitan Detention Center in my district in Brooklyn. Since 2020, there have been 17 inmates that have been killed, and the staffing shortages are devastating and have been devastating.

There have been numerous, numerous lockdowns simply because there is not enough staff. So, inmates are kept in isolation for multiple days at a time because of staffing shortages. There was a crackdown by the FBI and the Department of Justice in March. 25 inmates were arrested for all sorts of various smuggling efforts, violent assaults with scalpels. And, as my colleague from Florida said, smuggling cell phones.

There’s not enough staff to actually monitor what is going on. So, what did they do at MDC? Well, under President Biden, they implemented a retention bonus of 35% that enabled them to hire 87 additional people for that one location, the most in years and years. And it decreased lockdowns.

Since August of 2024, there have only been three days of lockdowns due to staff shortages. So, you would think that’s a productive way of boosting employment, boosting staffing, which I think every single one of our witnesses has said is an essential part of addressing the problems in the Bureau of Prisons.

So, what does President Trump do? Gets rid of the retention bonuses – gone. Gets rid of the collective bargaining agreement. How on earth do you think you are going to increase staffing by taking away all of the correction officers’ benefits, by taking away their retention bonus, which proved to be successful and is necessary.

And yet we’re here talking about implementing recidivism programs. It’s a joke. So, Mr. Biggs, you asked for some action items.

I’ll give you some action items.

Rep. Andy Biggs (AZ-05): Can I ask you a question?

Congressman Goldman: After I give you the action items, I’m happy to have a colloquy. One: restore the retention bonuses so that we can hire more corrections officers to implement all of the laws that we want to implement in a bipartisan way, and so we can keep the inmates safe.

Two: restore the collective bargaining agreement rather than unilaterally canceling a negotiated collective bargaining agreement that gives the corrections officers very important protections.

And three: let’s fund the First Step Act. Let’s fund the Federal Prison Oversight Act, which has not been funded. There are three action items that you can take back to Mr. Trump to try to actually address the issues at the Bureau of Prisons.

###

MIL OSI USA News –

May 8, 2025

MIL-OSI: Symbotic Reports Second Quarter Fiscal Year 2025 Results

Source: GlobeNewswire (MIL-OSI)

WILMINGTON, Mass., May 07, 2025 (GLOBE NEWSWIRE) — Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics technology for the supply chain, announced financial results for its second quarter of fiscal year 2025, which ended on March 29, 2025. Symbotic posted revenue of $550 million, a net loss of $21 million and adjusted EBITDA¹ of $35 million for the second quarter of fiscal year 2025.

By comparison, in the second quarter of fiscal year 2024, Symbotic had revenue of $393 million, a net loss of $55 million and adjusted EBITDA¹ of $9 million.

Cash and cash equivalents increased by $52 million from the prior quarter to $955 million at the end of the second quarter of fiscal year 2025.

“Our execution has improved, and our margins expanded,” said Symbotic Chairman and Chief Executive Officer Rick Cohen. “With stronger project execution and a compelling roadmap of product innovation, we remain well-positioned to deliver increasing value to our stakeholders.”

“Second quarter revenue grew by 40% year-over-year, and we delivered a record number of system starts and completes,” said Symbotic Chief Financial Officer, Carol Hibbard. “Looking forward, we remain committed to delivering improved execution while investing to support our future growth and innovation.”

OUTLOOK

For the third quarter of fiscal 2025, Symbotic expects revenue of $520 million to $540 million, and adjusted EBITDA² of $26 million to $30 million.

WEBCAST INFORMATION

Symbotic will host a webcast today at 5:00 pm ET to discuss its second quarter of fiscal year 2025 results. The webcast link is: https://edge.media-server.com/mmc/go/Symbotic-Q2-2025.

ABOUT SYMBOTIC

Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, A.I.-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-generation technology, high-density storage and machine learning to solve today’s complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce, Symbotic transforms the flow of goods and the economics of the supply chain for its customers. For more information, visit www.symbotic.com.

USE OF NON-GAAP FINANCIAL INFORMATION

Symbotic reports its financial results in accordance with Generally Accepted Accounting Principles in the United States (“U.S. GAAP”). This press release contains financial measures that are not recognized under U.S. GAAP (“non-GAAP financial measures”), including adjusted EBITDA, adjusted gross profit, adjusted gross profit margin, and free cash flow. These non-GAAP financial measures have limitations as an analytical tool as they do not have a standardized meaning prescribed by U.S. GAAP. The non-GAAP financial measures Symbotic uses may not be the same non-GAAP financial measures, and may not be calculated in the same manner, as that of other companies and, therefore, are unlikely to be comparable to similar measures presented by other companies. Rather, these non-GAAP financial measures are provided as a supplement to corresponding U.S. GAAP measures to provide additional information regarding the results of operations from management’s perspective. Accordingly, non-GAAP financial measures should not be considered a substitute for, in isolation from, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. All non-GAAP financial measures presented in this press release are reconciled to their closest reported U.S. GAAP financial measures. Symbotic recommends that investors review the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures provided in the financial statement tables included below in this press release, and not rely on any single financial measure to evaluate its business.

Symbotic defines adjusted EBITDA, a non-GAAP financial measure, as GAAP net loss excluding the following items: interest income; income taxes; depreciation and amortization of tangible and intangible assets; stock-based compensation; business combination transaction expenses; equity method investment; internal control remediation; business transformation costs; fair value adjustments on strategic investments; restructuring charges; joint venture formation fees; equity financing transaction costs; and other infrequent items that may arise from time to time. Symbotic defines adjusted gross profit, a non-GAAP financial measure, as GAAP gross profit excluding the following items: depreciation, stock-based compensation, and restructuring charges. Symbotic defines adjusted gross profit margin, a non-GAAP financial measure, as adjusted gross profit divided by revenue. Symbotic defines free cash flow, a non-GAAP financial measure, as net cash provided by or used in operating activities less purchases of property and equipment and capitalization of internal use software development costs. In addition to Symbotic’s financial results determined in accordance with U.S. GAAP, Symbotic believes that adjusted EBITDA, adjusted gross profit, adjusted gross profit margin, and free cash flow non-GAAP financial measures, are useful in evaluating the performance of Symbotic’s business because they highlight trends in its core business.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, Symbotic’s expectations or predictions of future financial or business performance or conditions. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning our possible or assumed future actions, business strategies, events, backlog or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions.

Forward-looking statements include, but are not limited to, statements about the ability of or expectations regarding Symbotic to:

meet the technical requirements of existing or future supply agreements with its customers, including with respect to existing backlog;
expand its target customer base and maintain its existing customer base;
realize the benefits expected from the acquisition of Walmart’s Advanced Systems and Robotics business, the GreenBox joint venture, the Commercial Agreement with GreenBox, Symbotic’s acquisitions of developed technology intangible assets, and the commercial agreement with Walmart de México y Centroamérica;
realize its outlook, including its system gross margin;
anticipate industry trends;
maintain and enhance its system;
maintain the listing of the Symbotic Class A Common Stock on Nasdaq;
execute its growth strategy;
develop, design and sell systems that are differentiated from those of competitors;
execute its research and development strategy;
acquire, maintain, protect and enforce intellectual property;
attract, train and retain effective officers, key employees or directors;
comply with laws and regulations applicable to its business;
stay abreast of modified or new laws and regulations applying to its business;
successfully defend litigation;
issue equity securities in connection with future transactions;
meet future liquidity requirements and, if applicable, comply with restrictive covenants related to long-term indebtedness;
timely and effectively remediate any material weaknesses in its internal control over financial reporting;
anticipate rapid technological changes; and
effectively respond to general economic and business conditions.

Forward-looking statements also include, but are not limited to, statements with respect to:

the future performance of Symbotic’s business and operations;
expectations regarding revenues, expenses, adjusted EBITDA and anticipated cash needs;
expectations regarding cash flow, liquidity and sources of funding;
expectations regarding capital expenditures;
the anticipated benefits of Symbotic’s leadership structure;
the effects of pending and future legislation, regulation and trade practices, including tariffs;
business disruption;
disruption to the business due to Symbotic’s dependency on certain customers;
increasing competition in the warehouse automation industry;
any delays in the design, production or launch of Symbotic’s systems and products;
the failure to meet customers’ requirements under existing or future contracts or customer’s expectations as to price or pricing structure;
any defects in new products or enhancements to existing products;
the fluctuation of operating results from period to period due to a number of factors, including the pace of customer adoption of Symbotic’s new products and services and any changes in its product mix that shift too far into lower gross margin products; and
any consequences associated with joint ventures and legislative and regulatory actions and reforms.

Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in Symbotic’s Annual Report on Form 10-K for the fiscal year ended September 28, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 4, 2024. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are expressed in good faith, and Symbotic believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements are provided for the purposes of assisting the reader in understanding our financial performance, financial position and cash flows as of and for periods ended on certain dates and to present information about management’s current expectations and plans relating to the future, and the reader is cautioned not to place undue reliance on these forward-looking statements because of their inherent uncertainty and to appreciate the limited purposes for which they are being used by management. While we believe that the assumptions and expectations reflected in the forward-looking statements are reasonable based on information currently available to management, there is no assurance that such assumptions and expectations will prove to have been correct. Forward-looking statements speak only as of the date they are made and are based on the beliefs, estimates, expectations and opinions of management on that date. Symbotic is not under any obligation, and expressly disclaims any obligation to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports that Symbotic has filed or will file from time to time with the SEC.

In addition to factors previously disclosed in Symbotic’s Annual Report on Form 10-K for the fiscal year ended September 28, 2024 filed with the SEC on December 4, 2024 and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the acquisition of Walmart’s Advanced Systems and Robotics business and risks related to the acquisition.

Any financial projections in this press release or discussed in the webcast are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Symbotic’s control. While all projections are necessarily speculative, Symbotic believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that Symbotic, or its representatives, considered or considers the projections to be a reliable prediction of future events.

Annualized, projected and estimated numbers are not forecasts and may not reflect actual results.

This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Symbotic and is not intended to form the basis of an investment decision in Symbotic. The forward-looking statements contained in this press release and other reports we file with, or furnish to, the SEC and other regulatory agencies and made by our directors, officers, other employees and other persons authorized to speak on our behalf are expressly qualified in their entirety by these cautionary statements.

INVESTOR RELATIONS CONTACT

Charlie Anderson
Vice President, Investor Relations & Corporate Development
ir@symbotic.com

MEDIA INQUIRIES
mediainquiry@symbotic.com

Symbotic Inc. and Subsidiaries Consolidated Statements of Operations

	Three Months Ended									Six Months Ended
(in thousands, except share and per share information)	March 29, 2025			December 28, 2024			March 30, 2024			March 29, 2025			March 30, 2024
Revenue:
Systems	$	513,372		$	464,059		$	370,693		$	977,431		$	718,398
Software maintenance and support		6,685			5,525			2,566			12,210			4,735
Operation services		29,594			17,109			20,073			46,703			30,142
Total revenue		549,651			486,693			393,332			1,036,344			753,275
Cost of revenue:
Systems		414,560			381,819			342,124			796,378			626,071
Software maintenance and support		2,095			1,884			1,936			3,979			3,662
Operation services		25,168			22,951			19,052			48,120			29,266
Total cost of revenue		441,823			406,654			363,112			848,477			658,999
Gross profit		107,828			80,039			30,220			187,867			94,276
Operating expenses:
Research and development expenses		61,540			43,592			46,462			105,133			88,606
Selling, general, and administrative expenses		78,347			61,076			48,652			139,421			95,663
Total operating expenses		139,887			104,668			95,114			244,554			184,269
Operating loss		(32,059	)		(24,629	)		(64,894	)		(56,687	)		(89,993	)
Other income, net		11,714			7,823			9,812			19,536			16,011
Loss before income tax and equity method investment		(20,345	)		(16,806	)		(55,082	)		(37,151	)		(73,982	)
Income tax expense (benefit)		1,397			(150	)		252			1,248			80
Loss from equity method investment		(2,490	)		(1,564	)		—			(4,055	)		—
Net loss		(21,438	)		(18,520	)		(54,830	)		(39,958	)		(73,902	)
Net loss attributable to noncontrolling interests		(17,513	)		(15,044	)		(46,021	)		(32,557	)		(62,257	)
Net loss attributable to common stockholders	$	(3,925	)	$	(3,476	)	$	(8,809	)	$	(7,401	)	$	(11,645	)

Loss per share of Class A Common Stock:
Basic and Diluted	$	(0.04	)	$	(0.03	)	$	(0.09	)		(0.07	)	$	(0.13	)
Weighted-average shares of Class A Common Stock outstanding:
Basic and Diluted		107,726,978			106,098,566			93,043,769			106,900,622			88,155,791

Symbotic Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures

The following table reconciles GAAP net loss to Adjusted EBITDA:

	Three Months Ended									Six Months Ended
(in thousands)	March 29, 2025			December 28, 2024			March 30, 2024			March 29, 2025			March 30, 2024
Net loss	$	(21,438	)	$	(18,520	)	$	(54,830	)	$	(39,958	)	$	(73,902	)
Interest income		(7,229	)		(7,769	)		(9,795	)		(14,998	)		(15,944	)
Income tax expense (benefit)		(1,397	)		150			(252	)		(1,248	)		(80	)
Depreciation and amortization		11,169			6,860			2,468			18,029			5,033
Stock-based compensation		47,962			28,741			34,726			76,703			64,188
Business Combination transaction expenses		3,298			3,802			—			7,100			—
Equity method investment		2,490			1,564			—			4,055			—
Internal control remediation		2,175			3,076			—			5,251			—
Business transformation costs		2,400			—			—			2,400			—
Fair value adjustments on strategic investments		(4,481	)		—			—			(4,481	)		—
Restructuring charges		(231	)		—			34,206			(231	)		34,206
Joint venture formation fees		—			—			—			—			1,089
Equity financing transaction costs		—			—			1,985			—			1,985
Adjusted EBITDA	$	34,718		$	17,904		$	8,508		$	52,622		$	16,575

The following table reconciles GAAP gross profit to Adjusted gross profit:

	Three Months Ended									Six Months Ended
(in thousands)	March 29, 2025			December 28, 2024			March 30, 2024			March 29, 2025			March 30, 2024
Gross profit	$	107,828		$	80,039		$	30,220		$	187,867		$	94,276
Depreciation		2,949			2,469			88			5,418			181
Stock-based compensation		11,264			3,709			5,156			14,973			8,587
Restructuring charges		(231	)		—			34,206			(231	)		34,206
Adjusted gross profit	$	121,810		$	86,217		$	69,670		$	208,027		$	137,250

Gross profit margin		19.6	%		16.4	%		7.7	%		18.1	%		12.5	%
Adjusted gross profit margin		22.2	%		17.7	%		17.7	%		20.1	%		18.2	%

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

	Three Months Ended									Six Months Ended
(in thousands)	March 29, 2025			December 28, 2024			March 30, 2024			March 29, 2025			March 30, 2024

Net cash provided by (used in) operating activities	$	269,575		$	205,027		$	21,072		$	474,602		$	(9,078	)
Purchases of property and equipment and capitalization of internal use software development costs		(20,560	)		(7,357	)		(2,871	)		(27,917	)		(5,864	)
Free cash flow	$	249,015		$	197,670		$	18,201		$	446,685		$	(14,942	)

Symbotic Inc. and Subsidiaries
Supplemental Common Share Information

Total Common Shares issued and outstanding:

	March 29, 2025	September 28, 2024
Class A Common Shares issued and outstanding	108,380,772	104,689,377
Class V-1 Common Shares issued and outstanding	76,223,325	76,965,386
Class V-3 Common Shares issued and outstanding	404,309,196	404,309,196
	588,913,293	585,963,959

Symbotic Inc. and Subsidiaries Consolidated Balance Sheets

(in thousands, except share data)	March 29, 2025			September 28, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	954,944		$	727,310
Accounts receivable		137,562			201,548
Unbilled accounts receivable		160,248			218,233
Inventories		146,281			106,136
Deferred expenses		4,979			1,058
Prepaid expenses and other current assets		93,966			101,252
Total current assets		1,497,980			1,355,537
Property and equipment, net		123,706			97,109
Intangible assets, net		125,793			3,664
Goodwill		68,669			—
Equity method investment		85,323			81,289
Other assets		62,714			40,953
Total assets	$	1,964,185		$	1,578,552
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	220,027		$	175,188
Accrued expenses and other current liabilities		166,269			165,644
Deferred revenue		1,086,297			676,314
Total current liabilities		1,472,593			1,017,146
Deferred revenue		8,152			129,233
Other liabilities		61,866			42,043
Total liabilities		1,542,611			1,188,422
Commitments and contingencies		—			—
Equity:
Class A Common Stock, 3,000,000,000 shares authorized, 108,380,772 and 104,689,377 shares issued and outstanding at March 29, 2025 and September 28, 2024, respectively		13			13
Class V-1 Common Stock, 1,000,000,000 shares authorized, 76,223,325 and 76,965,386 shares issued and outstanding at March 29, 2025 and September 28, 2024, respectively		7			7
Class V-3 Common Stock, 450,000,000 shares authorized, 404,309,196 shares issued and outstanding at March 29, 2025 and September 28, 2024		40			40
Additional paid-in capital		1,539,378			1,523,692
Accumulated deficit		(1,331,326	)		(1,323,925	)
Accumulated other comprehensive loss		(2,698	)		(2,594	)
Total stockholders’ equity		205,414			197,233
Noncontrolling interest		216,160			192,897
Total equity		421,574			390,130
Total liabilities and equity	$	1,964,185		$	1,578,552

Symbotic Inc. and Subsidiaries Consolidated Statements of Cash Flows

	Three Months Ended									Six Months Ended
(in thousands)	March 29, 2025			December 28, 2024			March 30, 2024			March 29, 2025			March 30, 2024
Cash flows from operating activities:
Net loss	$	(21,438	)	$	(18,520	)	$	(54,830	)	$	(39,958	)	$	(73,902	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		12,279			7,645			3,155			19,924			6,352
Equity in net loss from equity method investment		4,055			—			—			4,055			—
Foreign currency (gains) losses, net		20			(32	)		(30	)		(12	)		(8	)
Gain on investments		—			—			(8,745	)		—			(8,745	)
Loss on disposal of assets		—			201			—			201			—
Provision for excess and obsolete inventory		292			688			34,206			980			34,276
Stock-based compensation		43,355			26,773			28,065			70,128			57,527
Gain from strategic investment fair value adjustment		(4,481	)		—			—			(4,481	)		—
Changes in operating assets and liabilities:
Accounts receivable		(3,195	)		67,376			25,328			64,181			(58,461	)
Inventories		(23,232	)		(10,425	)		(16,353	)		(33,657	)		(17,920	)
Prepaid expenses and other current assets		89,491			10,317			(9,777	)		99,808			(42,430	)
Deferred expenses		(1,757	)		(2,164	)		2,106			(3,921	)		(5,046	)
Other assets		(6,400	)		(1,079	)		440			(7,479	)		(5,466	)
Accounts payable		13,806			31,145			30,576			44,951			23,315
Accrued expenses and other current liabilities		(65,685	)		45,540			(17,600	)		(20,145	)		(1,884	)
Deferred revenue		230,283			58,336			2,678			288,619			72,644
Other liabilities		2,182			(10,774	)		1,853			(8,592	)		10,670
Net cash provided by (used in) operating activities		269,575			205,027			21,072			474,602			(9,078	)
Cash flows from investing activities:
Purchases of property and equipment and capitalization of internal use software development costs		(20,560	)		(7,357	)		(2,871	)		(27,917	)		(5,864	)
Proceeds from maturities of marketable securities		—			—			140,000			—			290,000
Purchases of marketable securities		—			—			(343	)		—			(48,660	)
Acquisitions of strategic investments		—			(17,992	)		—			(17,992	)		—
Cash paid for business acquisitions		(200,000	)		—			—			(200,000	)		—
Net cash provided by (used in) investing activities		(220,560	)		(25,349	)		136,786			(245,909	)		235,476
Cash flows from financing activities:
Payment for taxes related to net share settlement of stock-based compensation awards		—			(3,012	)		(3,125	)		(3,012	)		(3,181	)
Net proceeds from issuance of common stock under employee stock purchase plan		3,233			—			3,435			3,233			3,435
Distributions to or on behalf of Symbotic Holdings LLC partners		(382	)		(850	)		—			(1,232	)		—
Proceeds from issuance of Class A Common Stock		—			—			257,985			—			257,985
Proceeds from exercise of warrants		—			—			—			—			158,702
Net cash provided by (used in) financing activities		2,851			(3,862	)		258,295			(1,011	)		416,941
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		50			(84	)		(13	)		(34	)		(15	)
Net increase in cash, cash equivalents, and restricted cash		51,916			175,732			416,140			227,648			643,324
Cash, cash equivalents, and restricted cash – beginning of period		906,086			730,354			488,102			730,354			260,918
Cash, cash equivalents, and restricted cash – end of period	$	958,002		$	906,086		$	904,242		$	958,002		$	904,242


	Three Months Ended									Six Months Ended
(in thousands)	March 29, 2025			December 28, 2024			March 30, 2024			March 29, 2025			March 30, 2024
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	$	954,944		$	903,034		$	901,382		$	954,944		$	901,382
Restricted cash		3,058			3,052			2,860			3,058			2,860
Cash, cash equivalents, and restricted cash	$	958,002		$	906,086		$	904,242		$	958,002		$	904,242

¹ Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) is a non-GAAP financial measure as defined below under “Use of Non-GAAP Financial Information.” See the tables below for reconciliations to net loss, the most comparable GAAP measure.

² Symbotic is not providing guidance for net loss, which is the most comparable GAAP financial measure to adjusted EBITDA, because information reconciling forward-looking adjusted EBITDA to net loss is unavailable to it without unreasonable effort. Symbotic is not able to provide reconciliations of adjusted EBITDA to GAAP financial measures because certain items required for such reconciliations are outside of Symbotic’s control and/or cannot be reasonably predicted, such as the provision for stock-based compensation.

The MIL Network –

May 8, 2025

MIL-OSI: SLR Investment Corp. Announces Quarter Ended March 31, 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Net Investment Income of $0.41 Per Share for Q1 2025;

Declared Quarterly Distribution of $0.41 Per Share;

Stable NAV/Strong Credit Quality

NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) — SLR Investment Corp. (NASDAQ: SLRC) (the “Company”, “SLRC”, “we”, “us”, or “our”) today reported net investment income (“NII”) of $22.1 million, or $0.41 per share, for the first quarter of 2025. On May 7, 2025, the Board declared a quarterly distribution of $0.41 per share payable on June 27, 2025, to holders of record as of June 13, 2025.

As of March 31, 2025, net asset value (“NAV”) was $18.16 per share, compared to $18.20 per share at December 31, 2024.

“We remain pleased with the composition, quality, and performance of our portfolio on an absolute and relative basis in the first quarter,” said Michael Gross, Co-CEO of SLR Investment Corp. “While the ultimate impact from tariffs remains highly uncertain, we are actively engaged with our portfolio companies and believe that our portfolio, which is heavily collateralized by working capital assets and focused on domestic services businesses, is well positioned for the current environment.”

“We are seeing a significant and growing pipeline of asset-based lending investment opportunities driven by both the market dislocation and the retreat of traditional bank lenders which allows us to remain selective while investing in structures that are designed to be more resilient in today’s uncertain environment,” said Bruce Spohler, Co-CEO of SLR Investment Corp. “With conservative portfolio net leverage near the low-end of our target range and available capital of over $800 million, SLRC is well positioned to take advantage of our attractive investment pipeline amidst continued market volatility.”

FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED MARCH 31, 2025:

At March 31, 2025:

Investment Portfolio fair value: $2.0 billion | Comprehensive Investment Portfolio⁽¹⁾ fair value: $3.1 billion
Non-accruals: 0.4% at fair value, 0.6% at cost of Investment Portfolio
Net assets: $990.5 million or $18.16 per share
Leverage: 1.04x net debt-to-equity

Operating Results for the Quarter Ended March 31, 2025:

Net investment income: $22.1 million or $0.41 per share
Net realized and unrealized losses: $2.2 million or $0.04 per share
Net increase in net assets from operations: $19.9 million or $0.37 per share

Comprehensive Investment Portfolio Activity⁽²⁾for the Quarter Ended March 31, 2025:

Investments made: $361.3 million
Investments prepaid and sold: $390.6 million

_{⁽¹⁾ The Comprehensive Investment Portfolio for the quarter ended March 31, 2025 is comprised of SLRC’s investment portfolio and SLR Credit Solutions’ (“SLR-CS”) portfolio, SLR Equipment Finance’s (“SLR-EF”) portfolio, Kingsbridge Holdings, LLC’s (“KBH”) portfolio, SLR Business Credit’s (“SLR-BC”) portfolio, SLR Healthcare ABL’s (“SLR-HC ABL”) portfolio owned by the Company (collectively, the Company’s “Commercial Finance Portfolio Companies”), and the senior secured loans held by the SLR Senior Lending Program LLC (“SSLP”) attributable to the Company, and excludes the Company’s fair value of the equity interests in SSLP and the Commercial Finance Portfolio Companies and also excludes SLRC’s loans to KBH, SLR-EF, and SLR HC ABL.}
_{⁽²⁾ Comprehensive Investment Portfolio activity for the quarter ended March 31, 2025, includes investment activity of the Commercial Finance Portfolio Companies and SSLP attributable to the Company.}

Comprehensive Investment Portfolio

Portfolio Activity

During the three months ended March 31, 2025, SLRC had Comprehensive Investment Portfolio originations of $361.3 million and repayments of $390.6 million across the Company’s four investment strategies:

For the Quarter Ended March 31, 2025 *($mm)*

Asset Class	Sponsor Finance⁽¹⁾	Asset-based Lending⁽²⁾	Equipment Finance⁽³⁾	Life Science Finance	Total Comprehensive Investment Portfolio Activity
Originations	$44.8	$163.8	$128.1	$24.6	$361.3
Repayments / Amortization	$73.0	$98.9	$173.5	$45.2	$390.6
Net Portfolio Activity	($28.2)	$64.9	$(45.4)	($20.6)	($ 29.3)

_{⁽¹⁾ Sponsor Finance refers to cash flow loans to sponsor-owned companies including cash flow loans held in SSLP attributable to the Company.}
_{⁽²⁾ Includes SLR-CS, SLR-BC and SLR-HC ABL’s portfolios, as well as asset-based loans on the Company’s balance sheet.}
_{⁽³⁾ Includes SLR-EF’s portfolio and equipment financings on the Company’s balance sheet and Kingsbridge Holdings’ (KBH) portfolio.}

Comprehensive Investment Portfolio Composition

The Comprehensive Investment Portfolio is diversified across approximately 940 unique issuers, operating in over 105 industries, and resulting in an average exposure of $3.2 million or 0.1% per issuer. As of March 31, 2025, 98.2% of the Company’s Comprehensive Investment Portfolio was invested in senior secured loans of which 96.4% was held in first lien senior secured loans. Second lien ABL exposure was 1.6% and second lien cash flow exposure was 0.2% of the Comprehensive Investment Portfolio as of March 31, 2025.

SLRC’s Comprehensive Investment Portfolio composition by asset class as of March 31, 2025 was as follows:

Comprehensive Investment Portfolio Composition (at fair value)	Amount				Weighted Average Asset Yield⁽⁵⁾
	($mm)		%		Weighted Average Asset Yield⁽⁵⁾
Senior Secured Investments
Cash Flow Loans (Sponsor Finance)⁽¹⁾	$	588.0	19.3	%	10.4	%
Asset-Based Loans⁽²⁾	$	1,121.3	36.7	%	13.8	%
Equipment Financings⁽³⁾	$	1,102.6	36.1	%	11.5	%
Life Science Loans	$	186.8	6.1	%	12.5	%
Total Senior Secured Investments	$	2,998.7	98.2	%	12.2	%
Equity and Equity-like Securities	$	54.2	1.8	%
Total Comprehensive Investment Portfolio	$	3,052.9	100.0	%
Floating Rate Investments⁽⁴⁾	$	1,872.7	61.8	%
First Lien Senior Secured Loans	$	2,942.9	96.4	%
Second Lien Senior Secured Asset-Based Loans	$	48.0	1.6	%
Second Lien Senior Secured Cash Flow Loans	$	7.8	0.2	%

_{⁽¹⁾ Includes cash flow loans held in the SSLP attributable to the Company and excludes the Company’s equity investment in SSLP.}
_{⁽²⁾ Includes SLR-CS, SLR-BC, and SLR-HC ABL’s portfolios, as well as asset-based loans on the Company’s balance sheet, and excludes the Company’s equity investments in each of SLR-CS, SLR-BC, and SLR-HC ABL.}
_{⁽³⁾ Includes SLR-EF’s portfolio and equipment financings on the Company’s balance sheet and Kingsbridge Holdings’ (KBH) portfolio. Excludes the Company’s equity and debt investments in each of SLR-EF and KBH.}
_{⁽⁴⁾ Floating rate investments are calculated as a percent of the Company’s income-producing Comprehensive Investment Portfolio. The majority of fixed rate loans are associated with SLR-EF and leases held by KBH. Additionally, SLR-EF and KBH seek to match-fund their fixed rate assets with fixed rate liabilities.}
_{⁽⁵⁾ The weighted average asset yield for income producing cash flow, asset-based and life science loans on balance sheet is based on a yield to maturity calculation. The weighted average asset yield calculation for Life Science loans includes the amortization of expected exit/success fees. The weighted average yield for on-balance sheet equipment financings is calculated based on the expected average life of the investments. The weighted average asset yield for SLR-CS asset-based loans is an Internal Rate of Return (IRR) calculated using actual cash flows received and the expected terminal value. The weighted average asset yield for SLR-BC and SLR-HC ABL represents total interest and fee income for the three-month period ended on March 31, 2025 against the average portfolio over the same fiscal period, annualized. The weighted average asset yield for SLR-EF represents total interest and fee income for the three-month period ended on March 31, 2025 compared to the portfolio as of March 31, 2025, annualized. The weighted average yield for the KBH equipment leasing portfolio represents the blended yield from the company’s 1^st lien loan on par value and the annualized dividend yield on the cost basis of the company’s equity investment as of March 31, 2025.}

SLR Investment Corp. Portfolio

Asset Quality

As of March 31, 2025, 99.6% of SLRC’s portfolio was performing on a fair value basis and 99.4% on a cost basis, with only one investment on non-accrual.

The Company puts its largest emphasis on risk control and credit performance. On a quarterly basis, or more frequently if deemed necessary, the Company formally rates each portfolio investment on a scale of one to four, with one representing the least amount of risk.

As of March 31, 2025, the composition of our investment portfolio, on a risk ratings basis, was as follows:

Internal Investment Rating	Investments at Fair Value ($mm)	% of Total Portfolio
1	$622.3	31.0%
2	$1,334.9	66.6%
3	$39.4	2.0%
4	$7.8	0.4%

Investment Income Contribution by Asset Class

*Investment Income Contribution by Asset Class⁽¹⁾ ($mm)*
For the Quarter Ended:	Sponsor Finance		Asset-based Lending		Equipment Finance		Life Science Finance		Total
3/31/2025	$17.0		$19.5		$9.7		$7.0		$53.2
% Contribution		32.0%		36.7%		18.2%		13.1%		100.0%

⁽¹⁾ Investment Income Contribution by Asset Class includes: interest income/fees from Sponsor Finance (cash flow) loans on balance sheet and distributions from SSLP; income/fees from asset-based loans on balance sheet and distributions from SLR-CS, SLR-BC, SLR-HC ABL; income/fees from equipment financings and distributions from SLR-EF and distributions from KBH; and income/fees from life science loans on balance sheet.

SLR Senior Lending Program LLC (SSLP)

As of March 31, 2025, the Company and its 50% partner, Sunstone Senior Credit L.P., had contributed combined equity capital of $95.8 million of a total $100 million equity commitment to the SSLP. At quarter end, SSLP had total commitments of $177.0 million at par and total funded portfolio investments of $165.6 million at fair value, consisting of floating rate senior secured loans to 31 different borrowers and an average investment of $5.3 million per borrower. This compares to funded portfolio investments of $178.7 million at fair value across 32 different borrowers at December 31, 2024. During the quarter ended March 31, 2025, SSLP invested $6.6 million in 6 portfolio companies and had $19.9 million of investments repaid.

In Q1 2025, the Company earned income of $1.9 million from its investment in the SSLP, representing an annualized yield of 15.7% on the cost basis of the Company’s investment, consistent with the annualized yield in Q4 2024.

SLR Investment Corp.’s Results of Operations Quarter Over Quarter

Investment Income

For the fiscal quarters ended March 31, 2025, and 2024, gross investment income totaled $53.2 million and $58.1 million, respectively. The decrease in gross investment income for the year over year three-month periods was primarily due to a decrease in the size of the income producing investment portfolio as well as a decrease in index rates.

Expenses

SLRC’s net expenses totaled $31.1 million and $34.2 million, respectively, for the fiscal quarters ended March 31, 2025, and 2024. The decrease in expenses for the year-over-year three-month periods was primarily due to lower interest expense from a decrease in average borrowings as well as a decrease in the index rates on borrowings.

SLRC’s investment adviser agreed to waive incentive fees resulting from income earned due to the accretion of the purchase price discount allocated to investments acquired in the Company’s merger with SLR Senior Investment Corp., which closed on April 1, 2022. For the fiscal quarters ended March 31, 2025 and 2024, $2 thousand and $46 thousand, respectively, of such performance-based incentive fees were waived.

Net Investment Income

SLRC’s net investment income totaled $22.1 million and $23.9 million, or $0.41 and $0.44, per average share, respectively, for the fiscal quarters ended March 31, 2025, and 2024.

Net Realized and Unrealized Loss

Net realized and unrealized gain (loss) for the fiscal quarters ended March 31, 2025 and 2024 totaled $(2.2) million and $4.0 million, respectively.

Net Increase in Net Assets Resulting from Operations

For the fiscal quarters ended March 31, 2025, and 2024, the Company had a net increase in net assets resulting from operations of $19.9 million and $27.9 million, respectively. For the same periods, earnings per average share were $0.37 and $0.51, respectively.

Capital and Liquidity

Credit Facilities

As of March 31, 2025, the Company had $549.3 million drawn on $970 million of total commitments available on its revolving credit facilities and $140 million of term loans outstanding.

Unsecured Debt

On February 18, 2025, the Company closed a private offering of $50.0 million of unsecured notes due 2028 with a fixed rate of interest of 6.14% and a maturity date of February 18, 2028. The issuance of notes in the first quarter followed the $49.0 million issuance of unsecured notes in the fourth quarter of 2024 with a maturity date of December 16, 2027. As of March 31, 2025, the Company had $359 million of unsecured notes outstanding and the company does not have any near-term refinancing obligations with the next maturity occurring in December 2026.

Leverage

As of March 31, 2025, the Company’s net debt-to-equity ratio was 1.04x compared to 1.03x at December 31, 2024 and 1.16x at March 31, 2024. The Company’s target range is 0.9x to 1.25x net debt-to-equity.

Available Capital

As of March 31, 2025, including anticipated available borrowing capacity at the SSLP and our specialty finance portfolio companies, subject to borrowing base limits, SLRC, SSLP and our specialty finance portfolio companies had over $800 million of available capital in the aggregate.

Unfunded Commitments

As of March 31, 2025, excluding commitments of $72.4 million to SLR-CS, SLR-BC, SLR-HC ABL, SLR Equipment Finance, and SSLP, over which the Company has discretion to fund, the Company had unfunded commitments of approximately $196.2 million.

Subsequent Events

On May 7, 2025, the Board declared a quarterly distribution of $0.41 per share payable on June 27, 2025, to holders of record as of June 13, 2025.

Conference Call and Webcast Information

The Company will host an earnings conference call and audio webcast at 10:00 a.m. (Eastern Time) on Thursday, May 8, 2025. All interested parties may participate in the conference call by dialing (800) 225-9448 approximately 5-10 minutes prior to the call, international callers should dial (203) 518-9708. Participants should reference SLR Investment Corp. and Conference ID: SLRC1Q25. A telephone replay will be available until May 22, 2025 and can be accessed by dialing (800) 925-9527. International callers should dial (402) 220-5388.

This conference call will also be broadcast live over the Internet and can be accessed by all interested parties from the Event Calendar within the “Investors” tab of SLR Investment Corp.’s website at https://slrinvestmentcorp.com/Investors/Event-Calendar. Please register online prior to the start of the call. For those who are not able to listen to the broadcast live, a replay of the webcast will be available soon after the call.

SLR INVESTMENT CORP. CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (in thousands, except share and per share amounts)

Assets	March 31, 2025 (unaudited)		December31, 2024
Investments at fair value:
Companies less than 5% owned (cost: $1,015,960 and $1,019,357, respectively)	$	1,021,278		$	1,027,457
Companies 5% to 25% owned (cost: $105,224 and $103,655, respectively)		89,490			89,945
Companies more than 25% owned (cost: $918,904 and $916,554, respectively)		893,631			888,232
Cash		19,931			16,761
Cash equivalents (cost: $447,074 and $397,510, respectively)		447,074			397,510
Dividends receivable		17,423			15,375
Interest receivable		11,645			11,993
Receivable for investments sold		1,336			1,573
Prepaid expenses and other assets		1,164			571
Total assets	$	2,502,972		$	2,449,417
Liabilities
Debt ($1,048,260 and $1,041,093 face amounts, respectively, reported net of unamortized debt issuance costs of $8,848 and $9,399, respectively.	$	1,039,412		$	1,031,694
Payable for investments and cash equivalents purchased		447,074			397,510
Management fee payable		7,513			7,739
Performance-based incentive fee payable		5,523			5,920
Interest payable		6,040			7,836
Administrative services payable		4,084			3,332
Other liabilities and accrued expenses		2,841			2,460
Total liabilities	$	1,512,487		$	1,456,491

Net Assets
Common stock, par value $0.01 per share, 200,000,000 and 200,000,000 common shares
authorized, respectively, and 54,554,634 and 54,554,634 shares issued and
outstanding, respectively	$	546		$	546
Paid-in capital in excess of par		1,117,606			1,117,606
Accumulated distributable net loss		(127,667	)		(125,226	)
Total net assets	$	990,485		$	992,926
Net Asset Value Per Share	$	18.16		$	18.20

SLR INVESTMENT CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)

	Three months ended
	March 31, 2025			March 31, 2024
INVESTMENT INCOME:
Interest:
Companies less than 5% owned	$	29,174		$	41,004
Companies 5% to 25% owned		1,224			831
Companies more than 25% owned		3,235			3,338
Dividends:
Companies 5% to 25% owned		770			—
Companies more than 25% owned		17,796			12,227
Other income:
Companies less than 5% owned		874			574
Companies more than 25% owned		105			125
Total investment income		53,178			58,099
EXPENSES:
Management fees		7,513			7,882
Performance-based incentive fees		5,526			5,952
Interest and other credit facility expenses		15,840			18,188
Administrative services expense		1,361			1,376
Other general and administrative expenses		835			895
Total expenses		31,075			34,293
Performance-based incentive fees waived		(2	)		(46	)
Net expenses		31,073			34,247
Net investment income	$	22,105		$	23,852
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS:
Net realized gain (loss) on investments and cash equivalents (companies less than 5% owned)	$	(422)		$	135
Net change in unrealized gain (loss) on investments and cash equivalents:
Companies less than 5% owned		(2,780	)		3,484
Companies 5% to 25% owned		(2,027	)		1
Companies more than 25% owned		3,050			399
Net change in unrealized gain (loss) on investments and cash equivalents		(1,757	)		3,884
Net realized and unrealized gain (loss) on investments and cash equivalents		(2,179	)		4,019
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	19,926		$	27,871
EARNINGS PER SHARE	$	0.37		$	0.51

About SLR Investment Corp.

SLR Investment Corp. is a closed-end investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. A specialty finance company with expertise in several niche markets, the Company primarily invests in leveraged, U.S. upper middle market companies in the form of cash flow, asset-based, and life sciences senior secured loans.

Forward-Looking Statements

Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: the Company’s access to deal flow and its ability to take advantage of attractive investment opportunities; the market environment and its impact on the business prospects of SLRC and the prospects of SLRC’s portfolio companies; prospects for growth of SLRC’s investment pipeline and resiliency of investing structures; the quality of, and the impact on the performance of SLRC from the investments that SLRC has made and expects to make; and the anticipated availability of capital. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with: (i) changes or potential disruptions in SLRC’s operations, the economy, financial markets and political environment, including those caused by tariffs and trade disputes with other countries, inflation and changing interest rates; (ii) risks associated with possible disruption in the operations of SLRC or the economy generally due to terrorism, war or other geopolitical conflicts, natural disasters, pandemics or cybersecurity incidents; (iii) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (iv) conditions in SLRC’s operating areas, particularly with respect to business development companies or regulated investment companies; and (v) other considerations that may be disclosed from time to time in SLRC’s publicly disseminated documents and filings. SLRC has based the forward-looking statements included in this press release on information available to it on the date of this press release, and SLRC assumes no obligation to update any such forward-looking statements. Although SLRC undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that it may make directly to you or through reports that SLRC in the future may file with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Contact
SLR Investment Corp.
Investor Relations
slrinvestorrelations@slrcp.com | (646) 308-8770

The MIL Network –

May 8, 2025

MIL-OSI: Encore Capital Group Announces First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Favorable purchasing conditions continue in U.S. market
Global portfolio purchases up 24% to $368 million, including record $316 million in U.S.
Global collections up 18% to $605 million, including record $454 million in U.S.
Earnings per share of $1.93

SAN DIEGO, May 07, 2025 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today reported consolidated financial results for the first quarter ended March 31, 2025.

“Encore’s 2025 is off to a strong start, which is reflected in every measure of our first quarter financial performance,” said Ashish Masih, President and Chief Executive Officer. “Portfolio purchases in Q1 of $368 million were up 24% compared to the first quarter last year and collections of $605 million were up 18%. Our collections performance helped earnings more than double compared to last year, as first quarter earnings per share of $1.93 was up 103% compared to the $0.95 per share we delivered a year ago.”

“Our MCM business in the U.S. continues to deliver very strong results. Empowered by the ongoing favorable supply environment, MCM portfolio purchases in the first quarter were a record $316 million, up 34% compared to the year ago quarter, at very attractive returns. MCM also delivered record collections of $454 million in the first quarter, up 23% compared to Q1 a year ago, driven by superior execution.”

“Our Cabot business in Europe delivered a solid first quarter. Portfolio purchases of $51 million were in line with Cabot’s historical trend and collections of $150 million were up 7% compared to the first quarter last year.”

“As a result of our strong start to the year and our continued investment and operational execution, we are reiterating our guidance for 2025 which we originally established in February. We anticipate our global portfolio purchasing this year will exceed the $1.35 billion of purchases we made in 2024 and we expect our year-over-year collections growth to be 11% to $2.4 billion. As always, we remain committed to the critical role we play in the consumer credit ecosystem and to helping consumers restore their financial health,” said Masih.

In the first quarter, the company repurchased $10 million of its shares of common stock.

Financial Highlights for the First Quarter of 2025:

	Three Months Ended March 31,
(in thousands, except percentages and earnings per share)		2025		2024	Change
Portfolio purchases⁽¹⁾	$	367,851	$	295,714	24	%
Average receivable portfolios⁽²⁾	$	3,864,450	$	3,499,910	10	%
Estimated Remaining Collections (ERC)	$	8,862,661	$	8,307,294	7	%
Collections	$	604,807	$	510,887	18	%
Revenues	$	392,775	$	328,386	20	%
Operating expenses	$	263,432	$	244,795	8	%
Net income	$	46,796	$	23,239	101	%
Earnings per share	$	1.93	$	0.95	103	%

______________________

(1) Includes U.S. purchases of $316.4 million and $236.5 million, and Europe purchases of $51.5 million and $59.2 million in Q1 2025 and Q1 2024, respectively.

(2) Represents the average of receivable portfolios for the quarter (receivable portfolios at the beginning and end of the quarter divided by 2).

Conference Call and Webcast

Encore will host a conference call and slide presentation today, May 7, 2025, at 2:00 p.m. Pacific / 5:00 p.m. Eastern time, to present and discuss first quarter results.

Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore’s website at encorecapital.com. To access the live conference call by telephone, please pre-register using this link. Registrants will receive confirmation with dial-in details.

For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company’s website shortly after the call concludes.
Non-GAAP Financial Measures

This news release includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company has included information concerning adjusted EBITDA because management utilizes this information in the evaluation of its operations and believes that this measure is a useful indicator of the Company’s ability to generate cash collections in excess of operating expenses through the liquidation of its receivable portfolios. Adjusted EBITDA has not been prepared in accordance with GAAP and should not be considered as an alternative to, or more meaningful than, net income and net income per share as indicators of the Company’s operating performance. Further, this non-GAAP financial measure, as presented by the Company, may not be comparable to similarly titled measures reported by other companies. A reconciliation of Adjusted EBITDA to its most directly comparable GAAP financial measure is below.

About Encore Capital Group, Inc.

Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services for consumers across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases portfolios of consumer receivables from major banks, credit unions, and utility providers.

Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at http://www.encorecapital.com.

Forward Looking Statements

The statements in this press release that are not historical facts, including, most importantly, those statements preceded by, or that include, the words “will,” “may,” “believe,” “projects,” “expects,” “anticipates” or the negation thereof, or similar expressions, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). These statements may include, but are not limited to, statements regarding our future operating results (including purchases and collections), performance, supply and pricing, liquidity, business plans or prospects. For all “forward-looking statements,” the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are discussed in the reports filed by the Company with the Securities and Exchange Commission, including the most recent report on Form 10-K, as it may be amended from time to time. The Company disclaims any intent or obligation to update these forward-looking statements.

Contact:

Bruce Thomas
Encore Capital Group, Inc.
Vice President, Global Investor Relations
bruce.thomas@encorecapital.com

SOURCE: Encore Capital Group, Inc.

FINANCIAL TABLES FOLLOW


ENCORE CAPITAL GROUP, INC.
Condensed Consolidated Statements of Financial Condition
(In Thousands, Except Par Value Amounts)
(Unaudited)
	March 31, 2025			December 31, 2024
Assets
Cash and cash equivalents	$	187,117		$	199,865
Receivable portfolios, net		3,952,531			3,776,369
Property and equipment, net		82,014			80,597
Other assets		228,514			225,090
Goodwill		519,410			507,808
Total assets	$	4,969,586		$	4,789,729
Liabilities and Equity
Liabilities:
Accounts payable and accrued liabilities	$	234,000		$	233,545
Borrowings		3,790,698			3,672,762
Other liabilities		125,827			116,091
Total liabilities		4,150,525			4,022,398
Commitments and Contingencies
Equity:
Convertible preferred stock, $0.01 par value, 5,000 shares authorized, no shares issued and outstanding		—			—
Common stock, $0.01 par value, 75,000 shares authorized, 23,510 and 23,691 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively		235			237
Additional paid-in capital		9,645			19,297
Accumulated earnings		956,723			909,927
Accumulated other comprehensive loss		(147,542	)		(162,130	)
Total stockholders’ equity		819,061			767,331
Total liabilities and stockholders’ equity	$	4,969,586		$	4,789,729

The following table presents certain assets and liabilities of consolidated variable interest entities (“VIEs”) included in the condensed consolidated statements of financial condition above. Most assets in the table below include those assets that can only be used to settle obligations of consolidated VIEs. The liabilities exclude amounts where creditors or beneficial interest holders have recourse to the general credit of the Company.


	March 31, 2025		December 31, 2024
Assets
Cash and cash equivalents	$	37,113	$	23,875
Receivable portfolios, net		907,079		895,704
Other assets		4,583		3,699
Liabilities
Accounts payable and accrued liabilities		3,148		2,946
Borrowings		626,879		599,830
Other liabilities		2,644		887

ENCORE CAPITAL GROUP, INC.
Condensed Consolidated Statements of Income
(In Thousands, Except Per Share Amounts)
(Unaudited)
	Three Months Ended March 31,
		2025			2024
Revenues
Portfolio revenue	$	345,218		$	315,852
Changes in recoveries		21,464			(12,409	)
Total debt purchasing revenue		366,682			303,443
Servicing revenue		22,547			20,379
Other revenues		3,546			4,564
Total revenues		392,775			328,386
Operating expenses
Salaries and employee benefits		105,932			104,184
Cost of legal collections		68,013			58,721
General and administrative expenses		41,018			36,241
Other operating expenses		34,252			30,367
Collection agency commissions		6,873			7,434
Depreciation and amortization		7,344			7,848
Total operating expenses		263,432			244,795
Income from operations		129,343			83,591
Other expense
Interest expense		(70,530	)		(55,765	)
Other income		1,647			2,666
Total other expense		(68,883	)		(53,099	)
Income before income taxes		60,460			30,492
Provision for income taxes		(13,664	)		(7,253	)
Net income	$	46,796		$	23,239

Earnings per share:
Basic	$	1.96		$	0.98
Diluted	$	1.93		$	0.95

Weighted average shares outstanding:
Basic		23,879			23,784
Diluted		24,269			24,468

ENCORE CAPITAL GROUP, INC.
Condensed Consolidated Statements of Cash Flows
(Unaudited, In Thousands)
	Three Months Ended March 31,
		2025			2024
Operating activities:
Net income	$	46,796		$	23,239
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		7,344			7,848
Other non-cash interest expense, net		3,544			3,727
Stock-based compensation expense		3,424			3,357
Changes in recoveries		(21,464	)		12,409
Other, net		1,737			887
Changes in operating assets and liabilities
Other assets		(3,499	)		(6,223	)
Accounts payable, accrued liabilities and other liabilities		7,401			5,740
Net cash provided by operating activities		45,283			50,984
Investing activities:
Purchases of receivable portfolios, net of put-backs		(362,712	)		(291,367	)
Collections applied to receivable portfolios		259,589			195,035
Purchases of property and equipment		(6,990	)		(6,861	)
Other, net		9,835			12,311
Net cash used in investing activities		(100,278	)		(90,882	)
Financing activities:
Payment of loan and debt refinancing costs		(255	)		(10,202	)
Proceeds from credit facilities		246,426			248,549
Repayment of credit facilities		(185,831	)		(696,351	)
Proceeds from senior secured notes		—			500,000
Repayment of senior secured notes		—			(9,770	)
Repurchase and retirement of common stock		(10,004	)		—
Other, net		(9,999	)		23,564
Net cash provided by financing activities		40,337			55,790
Net (decrease) increase in cash and cash equivalents		(14,658	)		15,892
Effect of exchange rate changes on cash and cash equivalents		1,910			(1,266	)
Cash and cash equivalents, beginning of period		199,865			158,364
Cash and cash equivalents, end of period	$	187,117		$	172,990

Supplemental disclosures of cash flow information:
Cash paid for interest	$	41,303		$	46,469
Cash paid for income taxes, net of refunds		1,247			1,542
Supplemental schedule of non-cash investing activities:
Receivable portfolios transferred to real estate owned	$	1,040		$	2,045

ENCORE CAPITAL GROUP, INC.
Supplemental Financial Information
Reconciliation of Non-GAAP Metrics
Adjusted EBITDA
	Three Months Ended March 31,
(in thousands, unaudited)		2025			2024
GAAP net income, as reported	$	46,796		$	23,239
Adjustments:
Interest expense		70,530			55,765
Interest income		(1,546	)		(1,368	)
Provision for income taxes		13,664			7,253
Depreciation and amortization		7,344			7,848
Stock-based compensation expense		3,424			3,357
Net loss (gain) on derivative instruments⁽¹⁾		—			(195	)
Acquisition, integration and restructuring related expenses⁽²⁾		248			2,319
Adjusted EBITDA	$	140,460		$	98,218
Collections applied to principal balance⁽³⁾	$	244,300		$	214,551

________________________

(1) Amount represents gain or loss recognized on derivative instruments that are not designated as hedging instruments or gain or loss recognized on derivative instruments upon dedesignation of hedge relationships. We adjust for this amount because we believe the gain or loss on derivative contracts is not indicative of ongoing operations.
(2) Amount represents acquisition, integration and restructuring related expenses. We adjust for this amount because we believe these expenses are not indicative of ongoing operations; therefore, adjusting for these expenses enhances comparability to prior periods, anticipated future periods, and our competitors’ results.
(3) Amount represents (a) gross collections from receivable portfolios less (b) debt purchasing revenue, plus (c) proceeds applied to basis from sales of real estate owned (“REO”) assets and, when applicable, other receivable portfolios. A reconciliation of “collections applied to receivable portfolios, net” to “collections applied to principal balance” is available in the Form 10-Q for the period ending March 31, 2025.

The MIL Network –

May 8, 2025

MIL-OSI: H&R Block Reports Fiscal 2025 Third Quarter Results

Source: GlobeNewswire (MIL-OSI)

— Delivered Revenue Growth of 4%, Net Income Growth of 5%, and EPS Growth of 9% —

— Improved Volume and Market Share Trends in Assisted Channel Through April 30 —

— Reaffirms Full Year 2025 Outlook —

KANSAS CITY, Mo., May 07, 2025 (GLOBE NEWSWIRE) — H&R Block, Inc. (NYSE: HRB) (the “Company”) today released financial results¹ for its fiscal 2025 third quarter ended March 31, 2025.

“Today we are reaffirming our FY25 outlook,” said Jeff Jones, president and chief executive officer. “Our transformation continues to gather momentum and deliver results. We meaningfully enhanced the new client experience this season, driving higher client satisfaction scores and improving volume and market share trends in the Assisted channel.”

Fiscal 2025 Third Quarter Results and Key Financial Metrics

“In the Assisted channel, we struck a healthy balance of price, volume, and mix in the quarter which is a testament to our redesigned client experience and our unwavering commitment to delivering value for our clients,” said Tiffany Mason, chief financial officer. “I remain confident in our ability to continue driving significant value as we have a resilient business with strong financial fundamentals, consistent cash flow generation, and a shareholder-friendly capital return practice.”

Total revenue of $2.3 billion increased by $92.3 million, or 4.2%, versus prior year. The increase was the result of an increase in overall net average charge (NAC), and higher company-owned return volumes in the U.S, partially offset by lower international revenue, and lower interest and fee income on Emerald Advance.

Total operating expenses of $1.3 billion increased by $42.2 million or 3.4%, primarily due to higher tax professional wages and benefits as a result of the increase in company-owned return volume.

Net income from continuing operations increased $31.3 million, or 4.5% to $722.9 million.

Earnings per share from continuing operations² increased 9.2% to $5.32, and adjusted earnings per share from continuing operations² increased 8.9% to $5.38, due to higher net income and fewer shares outstanding from share repurchases.

Capital Allocation

The Company reported the following related to its capital structure:

As previously announced, a quarterly cash dividend of $0.375 per share will be paid on July 3, 2025 to shareholders of record as of June 4, 2025. H&R Block has paid quarterly dividends consecutively since the Company became public in 1962.
In the first and second quarters of fiscal 2025, the company repurchased 6.5 million shares at an aggregate price of $400 million, or $61.10 per share.
The Company has approximately $1.1 billion remaining on its $1.5 billion share repurchase program.

Since 2016, the Company has returned more than $4.5 billion to shareholders in the form of dividends and share repurchases, buying back over 43% of its shares outstanding³.

Fiscal Year 2025 Outlook Reaffirmed

The Company continues to expect:

Revenue to be in the range of $3.69 to $3.75 billion.
EBITDA⁴ to be in the range of $975 million to $1.02 billion.
Effective tax rate to be approximately 13%, resulting in a one-time benefit to EPS of approximately 50 cents.
Adjusted Diluted Earnings Per Share⁴ to be in the range of $5.15 to $5.35.

Conference Call

The Company will host a conference call for analysts and investors to discuss third quarter 2025 results at 4:30 p.m. ET on Wednesday, May 7, 2025. To join live, participants must register at https://register-conf.media-server.com/register/BI6c8ca5ffb9a24eecba80c3c3a79d2043. Once registered, the participant will receive a dial-in number and unique PIN to access the call. Please join approximately 5 minutes prior to the scheduled start time.

The call, along with a presentation for viewing, will also be webcast in a listen-only format for the media and general public. The webcast can be accessed directly at https://edge.media-server.com/mmc/p/wfx9997r and will be available for replay 2 hours after the call is concluded and continuing for 90 days.

About H&R Block

H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News.

About Non-GAAP Financial Information

This press release and the accompanying tables include non-GAAP financial information. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with generally accepted accounting principles, please see the section of the accompanying tables titled “Non-GAAP Financial Information.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “commits,” “seeks,” “estimates,” “projects,” “forecasts,” “targets,” “would,” “will,” “should,” “goal,” “could” or “may” or other similar expressions. Forward-looking statements provide management’s current expectations or predictions of future conditions, events or results. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. They may include estimates of revenues, client trajectory, income, effective tax rate, earnings per share, cost savings, capital expenditures, dividends, share repurchases, liquidity, capital structure, market share, industry volumes or other financial items, descriptions of management’s plans or objectives for future operations, products or services, or descriptions of assumptions underlying any of the above. They may also include the expected impact of external events beyond the Company’s control, such as outbreaks of infectious disease, severe weather events, natural or manmade disasters, or changes in the regulatory environment in which we operate. All forward-looking statements speak only as of the date they are made and reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data or methods, future events or other changes, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to a variety of economic, competitive and regulatory factors, many of which are beyond the Company’s control, that are described in our Annual Report on Form 10-K for the most recently completed fiscal year in the section entitled “Risk Factors” and additional factors we may describe from time to time in other filings with the Securities and Exchange Commission. You may get such filings for free at our website at https://investors.hrblock.com. In addition, factors that may cause the Company’s actual estimated effective tax rate to differ from estimates include the Company’s actual results from operations compared to current estimates, future discrete items, changes in interpretations and assumptions the Company has made, future actions of the Company, or increases in applicable tax rates in jurisdictions where the Company operates. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

¹All amounts in this release are unaudited. Unless otherwise noted, all comparisons refer to the current period compared to the corresponding prior year period.
²All per share amounts are based on fully diluted shares at the end of the corresponding period. The Company reports non-GAAP financial measures of performance, including adjusted earnings per share (EPS), earnings before interest, tax, depreciation, and amortization (EBITDA) from continuing operations, and free cash flow which it considers to be useful metrics for management and investors to evaluate and compare the ongoing operating performance of the Company. See “About Non-GAAP Financial Information” below for more information regarding financial measures not prepared in accordance with generally accepted accounting principles (GAAP).
³Shares outstanding calculated as of April 30, 2016.
⁴Adjusted Diluted EPS and EBITDA from continuing operations are non-GAAP financial measures. Future period non-GAAP outlook includes adjustments for items not indicative of our core operations, which may include, without limitation, items described in the below section titled “Non-GAAP Financial Information” and in the accompanying tables. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual, or unanticipated charges, expenses or gains, or other items that may not directly correlate to the underlying performance of our business operations. The exact amounts of these adjustments are not currently determinable but may be significant. It is therefore not practicable to provide the comparable GAAP measures or reconcile this non-GAAP outlook to the most comparable GAAP measures.

For Further Information

Investor Relations:		Jordyn Eskijian, (816) 854-5674, jordyn.eskijian@hrblock.com
Media Relations:		Media Desk, mediadesk@hrblock.com

FINANCIAL RESULTS	(unaudited, in 000s – except per share amounts)
	Three months ended March 31,						Nine months ended March 31,
		2025			2024			2025			2024
REVENUES:
U.S. tax preparation and related services:
Assisted tax preparation	$	1,635,877		$	1,534,825		$	1,727,220		$	1,622,430
Royalties		133,961			141,915			143,312			153,070
DIY tax preparation		214,666			198,570			231,646			215,529
Refund Transfers		113,732			118,937			115,229			120,892
Peace of Mind® Extended Service Plan		15,625			16,813			54,867			59,100
Tax Identity Shield®		7,025			7,536			14,947			16,810
Other		14,582			12,065			40,215			32,637
Total U.S. tax preparation and related services		2,135,468			2,030,661			2,327,436			2,220,468
Financial services:
Emerald Card® and Spruce^SM		40,195			41,160			59,169			61,493
Interest and fee income on Emerald Advance®		14,286			21,169			26,594			36,702
Total financial services		54,481			62,329			85,763			98,195
International		60,438			68,264			157,104			158,398
Wave		26,717			23,580			79,681			70,656
Total revenues	$	2,277,104		$	2,184,834		$	2,649,984		$	2,547,717
Compensation and benefits:
Field wages		532,916			510,299			682,575			650,529
Other wages		74,621			75,356			230,687			222,125
Benefits and other compensation		111,575			99,653			188,731			170,964
		719,112			685,308			1,101,993			1,043,618
Occupancy		119,709			119,364			326,026			319,843
Marketing and advertising		196,667			194,349			221,502			211,135
Depreciation and amortization		29,221			30,672			87,247			91,004
Bad debt		40,479			41,008			62,625			67,560
Other		193,603			185,929			393,900			360,111
Total operating expenses		1,298,791			1,256,630			2,193,293			2,093,271
Other income (expense), net		4,554			5,224			19,215			20,982
Interest expense on borrowings		(24,686	)		(26,070	)		(62,285	)		(63,304	)
Pretax income		958,181			907,358			413,621			412,124
Income taxes		235,253			215,772			104,580			72,527
Net income from continuing operations		722,928			691,586			309,041			339,597
Net loss from discontinued operations		(598	)		(849	)		(2,707	)		(2,097	)
Net income	$	722,330		$	690,737		$	306,334		$	337,500
DILUTED EARNINGS PER SHARE
Continuing operations	$	5.32		$	4.87		$	2.23		$	2.34
Discontinued operations		(0.01	)		(0.01	)		(0.02	)		(0.02	)
Consolidated	$	5.31		$	4.86		$	2.21		$	2.32
WEIGHTED AVERAGE DILUTED SHARES		135,329			141,540			137,944			144,594
Adjusted diluted EPS ⁽¹⁾	$	5.38		$	4.94		$	2.41		$	2.54
EBITDA ⁽¹⁾	$	1,012,088		$	964,100		$	563,153		$	566,432

⁽¹⁾All non-GAAP measures are results from continuing operations. See “Non-GAAP Financial Information” for a reconciliation of non-GAAP measures.

CONSOLIDATED BALANCE SHEETS	(unaudited, in 000s – except per share data)
As of	March 31, 2025			June 30, 2024

ASSETS
Cash and cash equivalents	$	772,946		$	1,053,326
Cash and cash equivalents – restricted		16,744			21,867
Receivables, net		352,398			69,075
Prepaid expenses and other current assets		104,450			95,208
Total current assets		1,246,538			1,239,476
Property and equipment, net		146,456			131,319
Operating lease right of use assets		417,197			461,986
Intangible assets, net		270,007			264,102
Goodwill		785,936			785,226
Deferred tax assets and income taxes receivable		308,989			271,658
Other noncurrent assets		69,888			65,043
Total assets	$	3,245,011		$	3,218,810
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES:
Accounts payable and accrued expenses	$	243,754		$	155,830
Accrued salaries, wages and payroll taxes		269,849			105,548
Accrued income taxes and reserves for uncertain tax positions		346,733			318,830
Current portion of long-term debt		349,787			—
Operating lease liabilities		173,902			206,070
Deferred revenue and other current liabilities		205,778			191,050
Total current liabilities		1,589,803			977,328
Long-term debt and line of credit borrowings		1,142,890			1,491,095
Deferred tax liabilities and reserves for uncertain tax positions		337,634			291,063
Operating lease liabilities		252,630			265,373
Deferred revenue and other noncurrent liabilities		114,892			103,357
Total liabilities		3,437,849			3,128,216
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock, no par, stated value $.01 per share		1,644			1,709
Additional paid-in capital		758,821			762,583
Accumulated other comprehensive loss		(71,317	)		(48,845	)
Retained earnings (deficit)		(236,909	)		12,654
Less treasury shares, at cost		(645,077	)		(637,507	)
Total stockholders’ equity (deficiency)		(192,838	)		90,594
Total liabilities and stockholders’ equity	$	3,245,011		$	3,218,810

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	(unaudited, in 000s)
Nine months ended March 31,		2025			2024

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	306,334		$	337,500
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		87,247			91,004
Provision for credit losses		56,042			61,359
Deferred taxes		(12,503	)		(58,223	)
Stock-based compensation		25,420			25,310
Changes in assets and liabilities, net of acquisitions:
Receivables		(335,605	)		(348,106	)
Prepaid expenses, other current and noncurrent assets		(7,504	)		(18,037	)
Accounts payable, accrued expenses, salaries, wages and payroll taxes		240,246			223,045
Deferred revenue, other current and noncurrent liabilities		20,684			12,483
Income tax receivables, accrued income taxes and income tax reserves		50,049			93,961
Other, net		(1,088	)		(32	)
Net cash provided by operating activities		429,322			420,264
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		(71,784	)		(53,831	)
Payments made for business acquisitions, net of cash acquired		(35,323	)		(43,163	)
Franchise loans funded		(21,455	)		(18,815	)
Payments from franchisees		11,478			12,884
Other, net		6,194			3,282
Net cash used in investing activities		(110,890	)		(99,643	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of line of credit borrowings		(1,950,000	)		(1,025,000	)
Proceeds from line of credit borrowings		1,950,000			1,025,000
Dividends paid		(147,136	)		(135,127	)
Repurchase of common stock, including shares surrendered		(436,516	)		(379,018	)
Other, net		(11,854	)		(6,358	)
Net cash used in financing activities		(595,506	)		(520,503	)
Effects of exchange rate changes on cash		(8,429	)		(2,739	)
Net decrease in cash and cash equivalents, including restricted balances		(285,503	)		(202,621	)
Cash, cash equivalents and restricted cash, beginning of period		1,075,193			1,015,316
Cash, cash equivalents and restricted cash, end of period	$	789,690		$	812,695
SUPPLEMENTARY CASH FLOW DATA:
Income taxes paid, net (includes payments for purchased investment tax credits)	$	65,505		$	35,888
Interest paid on borrowings		63,251			66,464
Accrued additions to property and equipment		2,448			1,477
New operating right of use assets and related lease liabilities		135,372			139,872
Accrued dividends payable to common shareholders		50,194			44,648

(in 000s)
	Three months ended March 31,				Nine months ended March 31,
NON-GAAP FINANCIAL MEASURE – EBITDA		2025		2024		2025		2024

Net income – as reported	$	722,330	$	690,737	$	306,334	$	337,500
Discontinued operations, net		598		849		2,707		2,097
Net income from continuing operations – as reported		722,928		691,586		309,041		339,597
Add back:
Income taxes		235,253		215,772		104,580		72,527
Interest expense		24,686		26,070		62,285		63,304
Depreciation and amortization		29,221		30,672		87,247		91,004
		289,160		272,514		254,112		226,835
EBITDA from continuing operations	$	1,012,088	$	964,100	$	563,153	$	566,432

(in 000s, except per share amounts)
	Three months ended March 31,						Nine months ended March 31,
NON-GAAP FINANCIAL MEASURE – EBITDA		2025			2024			2025			2024

Net income from continuing operations – as reported	$	722,928		$	691,586		$	309,041		$	339,597
Adjustments:
Amortization of intangibles related to acquisitions (pretax)		11,278			12,869			33,316			37,693
Tax effect of adjustments ⁽¹⁾		(2,927	)		(2,793	)		(8,111	)		(8,815	)
Adjusted net income from continuing operations	$	731,279		$	701,622		$	334,246		$	368,475
Diluted earnings per share from continuing operations – as reported	$	5.32		$	4.87		$	2.23		$	2.34
Adjustments, net of tax		0.06			0.07			0.18			0.20
Adjusted diluted earnings per share from continuing operations	$	5.38		$	4.94		$	2.41		$	2.54

⁽¹⁾Tax effect of adjustments is the difference between the tax provision calculated on a GAAP basis and on an adjusted non-GAAP basis.

Non-GAAP Financial Information

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. Because these measures are not measures of financial performance under GAAP and are susceptible to varying calculations, they may not be comparable to similarly titled measures for other companies.

We consider our non-GAAP financial measures to be performance measures and a useful metric for management and investors to evaluate and compare the ongoing operating performance of our business. We make adjustments for certain non-GAAP financial measures related to amortization of intangibles from acquisitions and goodwill impairments. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures.

We measure the performance of our business using a variety of metrics, including earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, adjusted EBITDA from continuing operations, adjusted diluted earnings per share from continuing operations, and free cash flow. We also use EBITDA from continuing operations and pretax income from continuing operations, each subject to permitted adjustments, as performance metrics in incentive compensation calculations for our employees.

The MIL Network –

May 8, 2025

MIL-OSI Video: Operation Restore Justice

Source: Federal Bureau of Investigation (FBI) (video statements)

In an unprecedented nationwide operation to protect our children and mark April’s National Child Abuse Prevention Month, the FBI announces Operation Restore Justice, a five-day, sweeping FBI initiative to identify, track, and arrest child sex predators across the country in coordination with all 55 of our FBI field offices.

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https://www.youtube.com/watch?v=K1nwTQcuZac

MIL OSI Video –

May 8, 2025
MIL-OSI Security: Lower Brule Man Sentenced to 27 Months in Federal Prison for for Possessing a Firearm While Using Drugs

Source: Office of United States Attorneys

PIERRE – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Eric C. Schulte has sentenced a Lower Brule, South Dakota, man convicted of Possession of a Firearm by a Prohibited Person. The sentencing took place on May 6, 2025.

Stephen Biviano Zapata, age 28, was sentenced to two years and three months in federal prison, followed by three years of supervised release. He was also ordered to pay a $100 special assessment to the Federal Crime Victims Fund.

Zapata was indicted by a federal grand jury in September 2024. He pleaded guilty on January 27, 2025.

This conviction stems from a traffic stop on March 27, 2024, in Lower Brule, in the Lower Brule Sioux Indian Reservation. Law enforcement was aware Zapata had an outstanding tribal arrest warrant. Upon his arrest officers searched Zapata’s person and vehicle locating three baggies containing methamphetamine, other drug paraphernalia, and an AR-style semi-automatic rifle with two magazines containing 48 rounds of ammunition. Zapata admitted to being a methamphetamine user and submitted a sample for urinalysis testing that was positive for methamphetamine. Zapata is prohibited from possessing firearms based on his drug use.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

This case was investigated by the FBI, the Bureau of Indian Affairs-Office of Justice Services, Lower Brule Agency, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Assistant U.S. Attorney Meghan Dilges prosecuted the case.

Zapata was immediately remanded to the custody of the U.S. Marshals Service.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Justice Department Announces Results Of Operation Restore Justice: 205 Child Sex Abuse Offenders Arrested in FBI-Led Nationwide Crackdown, Including 4 in the Western District of New York

Source: Office of United States Attorneys

BUFFALO, NY – Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation, and the FBI will continue to be relentless in our pursuit of those who exploit the most vulnerable among us,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children.”

“These arrests should send a clear message that, together with our law enforcement partners at all levels, we will track down and prosecute those who target our children,” stated U.S. Attorney Michael DiGiacomo. “Our office will never stop doing all that we can to protect children from these harmful predators.”

“Operation Restore Justice’ sends a powerful message: the FBI is unwavering and united in its fight to protect our children,” said Matthew Miraglia, the Special Agent-in- Charge of the FBI’s Buffalo Field Office. “These arrests demonstrate the unwavering dedication of the FBI and our law enforcement partners. Our work does not stop here. The FBI is committed to holding predators accountable and pursuing justice for victims.”

Arrested in the Western District of New York and charged with possession of child pornography are:

Brian Keith, 68, of Niagara Falls, NY. During the execution of a search warrant on March 13, 2025, at Keith’s residence, Niagara Falls Police officers seized a DVR, laptop, five hard drives and two tablets. A review of the electronic devices recovered images of child pornography. Keith is a registered Level 3 sex offender.

Matthew Kowalski, 25, of Kenmore, NY. In October 2024, he was sentenced to 10 years’ probation for Possessing a Sexual Performance of a Minor, a New York State Penal Law violation. On April 11, 2025, during an unannounced home visit by Erie County Probation Officers, a cellular phone with an SD card was found, which Kowalski was not permitted to possess. A search of the phone and SD card recovered multiple images and videos of suspected child pornography.

Samari Thompson, 20, of Buffalo, NY. On November 4, 2024, investigators executed a search warrant at Thompson’s residence, seizing electronic devices, including a cellular telephone. A search of the cell phone recovered 48 images and 16 videos of suspected child pornography. Some of the images and videos depicted infants.

Jamie R. Anderson, 25, of Buffalo, NY. In January 2022, Anderson was sentenced to 10 years’ probation for Possessing a Sexual Performance of a Minor, a New York State Penal Law violation. On July 3, 2024, the social media application Kik reported to the National Center for Missing and Exploited Children that 13 video and image files of apparent child pornography were uploaded to their server. Subsequent investigation traced the uploaded files to Anderson. The investigation also determined that Anderson was the subject of two other tipline reports.

Others arrested around the country are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, N.Y.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org.

The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children

How we can help you: Parents and caregivers protecting your kids

Arrests in the Western District of New York are the result of investigations by the Federal Bureau of Investigation Child Exploitation Task Force, the New York State Police, the Town of Tonawanda Police Department, the Niagara County Sheriff’s Office, the Erie County Probation Department, and the Niagara Falls Police Department.

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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MIL Security OSI –

May 8, 2025
MIL-OSI Security: Tooele County Man Indicted After Allegedly Assaulting Two Motorcyclists for “Trespassing”

Source: Office of United States Attorneys

SALT LAKE CITY, Utah – A federal grand jury returned an indictment today charging a Utah man with multiple violent crimes after he allegedly zip-tied, kidnapped, and assaulted two motorcyclists who were riding their bikes in Tooele County, Utah, when they unknowingly crossed onto the Skull Valley Indian Reservation.

Russell Allen, 50, of Tooele County, Utah, was charged by complaint on April 28, 2025.

According to court documents, on April 26, 2025, Allen and another person allegedly assaulted the victims and told them they were trespassing on Indian land. The victims were allegedly ordered to the ground facedown, zip-tied, kicked and threatened with a knife. Allen and the other person allegedly took the victims’ belongings, including their motorcycles, purportedly as an impound for trespassing. Law enforcement later recovered the motorcycles in a maintenance shed on Skull Valley Indian Reservation Road. However, a search warrant later showed that many of the stolen items (camera equipment, cash, gift cards, wallets, and cell phones) were not recovered. The victims were then transported in a truck traveling at an estimated 100 mph to a remote desert area. The victims were then released without any of their property and had to walk over 10 miles for help from the Dugway gate guards in a hike believed to have taken six or seven hours.

Allen is charged with kidnapping, assault, and theft while within Indian Country. His initial appearance on the indictment is May 7, 2025, at 3:00 p.m. in courtroom 8.4 before a U.S. Magistrate Judge at the Orrin G. Hatch United States District Courthouse in downtown Salt Lake City.

Acting United States Attorney Felice John Viti for the District of Utah made the announcement.

The case is being investigated by the FBI Violent Crimes Task Force.

Assistant United States Attorney Sam Pead of the United States Attorney’s Office for the District of Utah is prosecuting the case.

An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Hopkinsville, Kentucky Man Sentenced to 30 Years in Federal Prison for Methamphetamine and Fentanyl Trafficking Conspiracy and Money Laundering

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

Paducah, KY – A Hopkinsville, Kentucky man was sentenced yesterday to 30 years in federal prison for his role in a methamphetamine and fentanyl trafficking conspiracy and money laundering. The sentence follows a conviction on all counts after a three-day jury trial earlier this year.

U.S. Attorney Michael A. Bennett of the Western District of Kentucky, Special Agent in Charge Jim Scott of the DEA Louisville Field Division, U.S. Postal Inspector in Charge Lesley Allison of the of the Pittsburgh Division, Special Agent in Charge Karen Wingerd, Cincinnati Field Office, IRS Criminal Investigation, Special Agent in Charge John Nokes of the ATF Louisville Field Division, and Chief Jason Newby of the Hopkinsville Police Department made the announcement.

According to court documents, Robert Blaine, 46, was sentenced to 30 years in federal prison, followed by 10 years of supervised release, for one count of conspiring to distribute controlled substances and 7 counts of money laundering.

Blaine was on supervised release for a federal drug trafficking conviction at the time he committed the instant offenses.

According to court documents and evidence presented at trial, between May 20, 2020, and January 22, 2022, Blaine conspired with Roderick Tutt, 36, of Hopkinsville, Kentucky, and Jessica Ochoa, 40, of Phoenix Arizona, to possess with the intent to distribute over 50 grams of methamphetamine and over 400 grams of a fentanyl mixture. During that time frame, Blaine wired money to Ochoa as payment for the drugs and in furtherance of the overall conspiracy. Blaine also mailed a box containing $36,960 in U.S. currency to Ochoa that he obtained from proceeds of illegal drug sales. On January 21, 2022, Blaine arranged for Tutt to travel to Arizona to pick up fentanyl and methamphetamine from Ochoa. Tutt was supposed to bring the drugs back to Blaine in Hopkinsville. Tutt was arrested on the way back to Hopkinsville with 2,059 fentanyl pills and approximately 8 kilograms of methamphetamine.

Blaine has previously been convicted of the following drug trafficking crimes.

On or about June 13, 2008, in Fulton Circuit Court, Blaine was convicted of trafficking in marijuana, greater than 5 pounds.

On or about January 6, 2009, in Caldwell Circuit Court, Blaine was convicted of first-degree trafficking in a controlled substance – cocaine.

On or about August 27, 2009, in Christian Circuit Court, Blaine was convicted of first-degree trafficking in a controlled substance – cocaine.

On or about October 14, 2014, in the United States District Court for the Western District of Kentucky, Paducah Division, Blaine was convicted of three counts of manufacturing, distributing, or dispensing a controlled substance, cocaine.

Tutt and Ochoa previously pled guilty and were sentenced.

On March 25, 2025, Tutt was sentenced to 2 years in prison, followed by 3 years of supervised release, for conspiring with Blaine to possess with the intent to distribute over 50 grams of methamphetamine and 400 grams of a mixture and substance containing fentanyl.

On March 25, 2025, Ochoa was sentenced to 7 years and 4 months in prison, followed by 5 years of supervised release, for conspiring with Blaine to possess with the intent to distribute over 50 grams of methamphetamine and 400 grams of a mixture and substance containing fentanyl and seven counts of money laundering.

There is no parole in the federal system.

This case was investigated by the DEA Paducah Post of Duty, the United States Postal Inspection Service Bowling Green Office, the Internal Revenue Service Criminal Investigation Division Bowling Green Office, the ATF Bowling Green Field Office, and the Hopkinsville Police Department, with assistance from the FBI Louisville Field Division, the Tonto Apache Police Department, the DEA Phoenix Division, and the United States Postal Inspection Service Phoenix Division.

Assistant United States Attorney Leigh Ann Dycus, of the U.S. Attorney’s Paducah Branch Office, prosecuted the case with assistance from paralegal Cristy Crockett.

This case was sentenced under Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

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MIL Security OSI –

May 8, 2025
MIL-OSI Security: Lower Brule Man Sentenced to 27 Months in Federal Prison for for Possessing a Firearm While Using Drugs

Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

PIERRE – United States Attorney Alison J. Ramsdell announced today that U.S. District Judge Eric C. Schulte has sentenced a Lower Brule, South Dakota, man convicted of Possession of a Firearm by a Prohibited Person. The sentencing took place on May 6, 2025.

Stephen Biviano Zapata, age 28, was sentenced to two years and three months in federal prison, followed by three years of supervised release. He was also ordered to pay a $100 special assessment to the Federal Crime Victims Fund.

Zapata was indicted by a federal grand jury in September 2024. He pleaded guilty on January 27, 2025.

This conviction stems from a traffic stop on March 27, 2024, in Lower Brule, in the Lower Brule Sioux Indian Reservation. Law enforcement was aware Zapata had an outstanding tribal arrest warrant. Upon his arrest officers searched Zapata’s person and vehicle locating three baggies containing methamphetamine, other drug paraphernalia, and an AR-style semi-automatic rifle with two magazines containing 48 rounds of ammunition. Zapata admitted to being a methamphetamine user and submitted a sample for urinalysis testing that was positive for methamphetamine. Zapata is prohibited from possessing firearms based on his drug use.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

This case was investigated by the FBI, the Bureau of Indian Affairs-Office of Justice Services, Lower Brule Agency, and the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Assistant U.S. Attorney Meghan Dilges prosecuted the case.

Zapata was immediately remanded to the custody of the U.S. Marshals Service.

MIL Security OSI –

May 8, 2025
MIL-OSI Video: Justice Department Announces Results of Operation Restore Justice

Source: United States Department of Justice (video statements)

The Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section (CEOS) in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

Related: https://www.justice.gov/opa/pr/justice-department-announces-results-operation-restore-justice-205-child-sex-abuse-offenders

https://www.youtube.com/watch?v=n-DjwnMS1rQ

MIL OSI Video –

May 8, 2025
MIL-OSI Security: Twenty-Eight Month Prison Term for Felon Who Twice Possessed Firearms

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

WASHINGTON – Deionta Person, 27, of the District of Columbia, was sentenced today in U.S. District Court to 28 months in federal prison in connection with being a felon in possession of a firearm, announced U.S. Attorney Edward R. Martin Jr., Special Agent in Charge Sean Ryan of the FBI Washington Field Office Criminal and Cyber Division, Chief Jessica M. E. Taylor of the United States Park Police (USPP), and Chief Pamela Smith of the Metropolitan Police Department (MPD).

Person pleaded guilty on Jan. 15, 2025, to unlawful possession of a firearm and ammunition by a felon. In addition to the 28-month prison term, U.S. District Court Judge Randolph D. Moss ordered Person to serve three years of supervised release.

According to court documents, on Sept. 5, 2021, USPP officers observed four individuals, including Person, exit a vehicle and walk towards an apartment complex located in the 2600 block of Douglass Place, SE. As the officers attempted to stop the quartet, Person ran away. At the back of the apartment building on the 2700 block of Douglass Place, Person discarded a black Glock 22 .40 caliber handgun loaded with 21 rounds of ammunition. USPP subsequently recovered this firearm.

On December 1, 2023, MPD officers observed Person seated in the driver’s seat of a vehicle parked on the 2700 block of Douglas Place, SE. As MPD officers attempted to speak to Person, he fled on foot down the sidewalk and discarded a Glock 30 .45 caliber handgun modified with a machine gun conversion device, loaded with 25 rounds.

In June of 2018, Person was convicted of robbery in Prince George’s County, Maryland, and sentenced to 15 years in prison with 12 years suspended.

This case was investigated by the U.S. Park Police and the Metropolitan Police Department with assistance from the FBI. It is being prosecuted by Assistant U.S. Attorney Jared English with valuable assistance from former Assistant U.S. Attorney Justin Song.

24cr14

MIL Security OSI –

May 8, 2025
MIL-OSI Security: FBI New Orleans Announces Results of Operation Restore Justice

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

Four individuals from across the state of Louisiana were charged between April 29 and May 2, 2025, during Operation Restore Justice, a nationwide initiative to identify, track, and arrest child predators. The operation coincided with the annual nationwide observance of Child Abuse Prevention Month in April. FBI agents were joined by our partners across the country in arresting 205 subjects and rescuing 115 children during the surge of resources deployed for Operation Restore Justice.

“The FBI is unwavering in its fight to protect children,” said Jonathan Tapp, special agent in charge of FBI New Orleans. “Each arrest is a powerful testament to the tireless efforts of the FBI and our dedicated law enforcement partners to protect the most vulnerable among us. It reaffirms the FBI’s commitment to pursuing justice for victims and hold predators accountable.”

“This joint operation signals our unrelenting effort to identify and prosecute those individuals responsible for the sexual exploitation of our nation’s youth,” stated Acting United States Attorney Michael M. Simpson. “Together with our law enforcement partners, our office stands ready and committed to utilizing our collective resources to bring justice to both the victims and the perpetrators of these crimes.”

“This nationwide effort has made its way to the Western District of Louisiana and the U.S. Attorney’s Office stands ready to join with the FBI and our state and local law enforcement partners to continue this investigation,” said Acting U.S. Attorney Alexander C. Van Hook. “These types of crimes against minor children are reprehensible and we are committed to doing what we can to get these child predators off of our streets.”

Three of the subjects arrested in Louisiana were charged following a joint undercover operation by the FBI, Alexandria Police Department, and Louisiana State Police. One of those individuals faces federal charges that will be prosecuted by the U.S. Attorney’s Office for the Western District of Louisiana. The other two face state charges that will be prosecuted by the Rapides Parish District Attorney’s Office. The fourth subject was indicted in the Eastern District of Louisiana on five separate counts, including sexual exploitation of children, distributing child sexual material (CSAM), receiving CSAM, and transmitting extortionate interstate communications (see press release from the USAO EDLA).

The FBI proactively identifies individuals involved in child sexual exploitation and the production of child sexual abuse material through our far-reaching, nationwide network of personnel and law enforcement partners. The Crimes Against Children (CAC) program provides a rapid, proactive, and comprehensive capacity to counter all threats of abuse against children. This capacity leverages partnerships within the FBI’s 89 Child Exploitation Human Trafficking Task Forces (CEHTTFs) across the country. Additionally, the FBI has Intelligence Analysts assigned to address the VCAC threat, both at Headquarters and the field. The FBI also leads a Violent Crimes Against Children International Task Force which includes nearly 100 International Task Force Officers representing over 60 countries to expand our ability to address the threat worldwide. 

The FBI also partners with the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org. In further partnership and collaboration with NCMEC, the FBI launched the Endangered Child Alert Program (ECAP) in 2004 to identify individuals involved in the sexual abuse of children and the production of child sexual abuse material. To date, ECAP has identified 36 individuals.

For more information about the crimes investigated by the FBI as well as the variety of resources we provide to protect and keep children safe, please visit:

Violent Crimes Against Children — FBI

Parents, Caregivers, Teachers — FBI

Welcome to sos.fbi.gov — FBI Safe Online Surfing (SOS)

As always, the FBI urges the public to remain vigilant and report any suspect crime against a child to 911 and local law enforcement immediately, as well as the FBI at 1-800-CALL-FBI (225-5324), online at tips.fbi.gov, or by contacting your local FBI field office.

Additional Resources

An electronic press kit that includes an interview with the Darren Cox, the FBI’s Deputy Assistant Director for the Criminal Investigative Division can be found here: FBI DVIDS Page (suggested: “Courtesy: FBI”). The raw interview is designed to be edited by each media outlet for the needs of their media market.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: FBI Announces Local Results of Nationwide Effort to Arrest Child Sex Abuse Offenders

Source: Federal Bureau of Investigation (FBI) State Crime News

The Federal Bureau of Investigation has concluded a national surge of resources to arrest accused child sex abuse offenders and combat child exploitation. In a coordinated effort by all 55 FBI field offices called Operation Restore Justice, 205 people were arrested nationwide.

The FBI Sacramento Field Office arrested four individuals on federal charges as part of this operation. Charges include sexual exploitation of a child and receipt and distribution of child pornography. Eleven additional arrests on state charges resulted from an undercover operation in collaboration with the Bakersfield Police Department Vice Unit to combat human trafficking and solicitation of prostitution in the city of Bakersfield.

“No child should ever have to suffer at the hands of a predator,” said Special Agent in Charge Sid Patel of the FBI Sacramento Field Office. “The FBI is committed to breaking the cycle of abuse and ensuring those who exploit children are brought to justice. We work closely with our federal, state, and local law enforcement partners to identify these offenders and to protect the most vulnerable members of our communities.”

This initiative between April 28 and May 1 was a joint effort with federal, state, and local partners to coincide with the end of Child Abuse Prevention Month and highlight the FBI’s ongoing efforts to confront these crimes. Investigating child sex abuse is an ongoing high-priority mission of the FBI. The FBI’s Violent Crimes Against Children (VCAC) program coordinates and bolsters efforts to counter all threats of abuse and exploitation of children that fall under FBI jurisdiction—including the production, sharing, and possession of child sexual abuse material; domestic or international travel to engage sexually with children; and the extortion of children to provide sexually explicit material of themselves. VCAC also helps to identify, locate, and recover child victims and strengthen partnerships that are critical to prevent abuse and capture offenders.

The FBI investigates cases through Child Exploitation and Human Trafficking Task Forces (CEHTTFs) located in each field office, allowing the FBI to combine resources with federal, state, and local law enforcement agencies. The FBI also partners with the nonprofit National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24-hour hotline at 1-800-THE-LOST and on missingkids.org.

In 2004, the FBI created the Endangered Child Alert Program (ECAP) to identify individuals involved in the sexual abuse of children and the production of child sexual abuse material. The program is a collaborative effort between the FBI and NCMEC.

The FBI also offers resources for parents and caregivers to stay engaged with their children’s online and offline activities. The FBI’s Safe Online Surfing (SOS) program teaches students in grades 3 to 8 how to navigate the web safely.

To submit a tip about the potential exploitation of a child, call 1-800-CALL-FBI (225-5324), visit tips.fbi.gov, or call your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children

How We Can Help You: Parents and Caregivers Protecting your Kids

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Crew of Fentanyl Dealers Indicted in Colorado

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

DENVER – The United States Attorney’s Office for the District of Colorado announces that a grand jury has returned an indictment charging Exor Omar Villanueva Raudales, a/k/a “Brian,” age 36, Alex Yubini Canaca Calix, age 32, Luis Fernando Banega Moncada, age 21, Alejandro Torres Ochoa, age 38, and Juan Carlos Sosa Villanueva, age 34, with possessing with intent to distribute fentanyl on different occasions between June 2024 and April 2025.

The indictment alleges a series of distinct episodes in which one or more of the defendants distributed fentanyl pills. Four involved Raudales, who worked with Calix, Moncada, and Villaneuva to execute fentanyl deals. Two involved Ochoa, who executed a deal by himself on one day and with Raudales and Villanueva on another. The deals involved substantial amounts of fentanyl, a dangerous Schedule II controlled substance.

Defendants Moncada, Ochoa, and Villanueva – all Honduran nationals without authorization to be in the United States – had initial appearances in federal court on April 29, 2025. All have since been detained pending trial after detention hearings in U.S. District Court. Raudales remains at large. Calix was unlawfully present and has previously been deported.

The investigation is being conducted by the Denver Field Office of the FBI, the Denver Field Office of the DEA, ICE Enforcement and Removal Operations, and IRS Criminal Investigation. The prosecution is being handled by the Transnational Organized Crime and Money Laundering Section of the United States Attorney’s Office.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

The charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt.

Case Number: 25-cr-00131-CNS

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Law Enforcement Seizes 9 DDoS-for-Hire Webpages as Part of Global Crackdown on ‘Booter’ and ‘Stresser’ DDoS Services

Source: Office of United States Attorneys

LOS ANGELES – The Justice Department today announced the court-authorized seizure of nine internet domains associated with some of the world’s leading DDoS-for-hire services. Poland’s Central Cybercrime Bureau simultaneously announced the arrests of four administrators of such services, investigations which were assisted by U.S. authorities. Several of the arrested administrators operated websites seized pursuant to previous operations by the Central District of California.

Federal law enforcement continues to seize websites that allow paying users to launch powerful distributed denial-of-service (DDoS) attacks. These attacks flood targeted computers and servers with information to prevent them from being able to access the internet.

Booter services such as those named in this action allegedly attacked a wide array of victims in the United States and abroad, including schools, government agencies, gaming platforms, and millions of people. In addition to affecting targeted victims, these attacks can significantly degrade internet services and completely disrupt internet connections.

The websites targeted in this operation were used for hundreds of thousands of actual or attempted DDoS attacks targeting victims worldwide. While some of these services claimed to offer “stresser” services that purportedly could be used for network testing, the Defense Criminal Investigative Service (DCIS) determined these claims to be a pretense, and “thousands of communications between booter site administrators and their customers…make clear that both parties are aware that the customer is not attempting to attack their own computers,” according to an affidavit filed in support of court-authorized warrants to seize the booter sites.

Today’s announcement builds on the success of the prior cases by targeting all known booter sites, shutting down as many as possible, and undertaking a public education campaign. In the last four years more than 11 defendants have been charged in Los Angeles and Anchorage for facilitating DDoS-for-hire services. More than 75 domains associated with such services have been seized.

“Booter services facilitate cyberattacks that harm victims and compromise everyone’s ability to access the internet,” said United States Attorney Bill Essayli for the Central District of California. “This week’s sweeping law enforcement activity is a major step in our ongoing efforts to eradicate criminal conduct that threatens the internet’s infrastructure and our ability to function in a digital world.”

“DDoS for hire criminal booter services impact internet services for victims in every corner of the United States, including Alaska,” said U.S. Attorney Michael J. Heyman for the District of Alaska. “This threat highlights the continued need to pursue cybercrime services like booter providers. We remain committed to bolstering our collaborative partnerships in the U.S. and abroad to address threats to critical internet infrastructure and services.”

“The enforcement actions launched today, made possible by enduring partnerships between law enforcement and private industry, represents continued pressure on DDoS-for-hire services and the cybercriminals and hacktivists who use them.” said Special Agent in Charge Kenneth DeChellis of the Defense Criminal Investigative Service (DCIS), Cyber Field Office. “This success demonstrates the resolve of the DCIS to relentlessly pursue those who target our warfighters and their information systems.”

In conjunction with the website seizures, Homeland Security Investigations, DCIS, and the Netherlands Police have launched an advertising campaign using targeted placement ads in search engines, which are triggered by keywords associated with DDoS activities. The purpose of the ads is to deter potential cybercriminals searching for DDoS services in the United States and around the globe, and to educate the public on the illegality of DDoS activities.

In recent years, booter services have continued to proliferate as they offer a low barrier to entry for users looking to engage in cybercriminal activity. These types of DDoS attacks are so named because they result in the “booting” or dropping of the targeted computer from the internet.

For additional information on booter and stresser services and the harm that they cause, please visit: https://www.fbi.gov/contact-us/field-offices/anchorage/fbi-intensify-efforts-to-combat-illegal-ddos-attacks.

The seizures announced today were performed by DCIS’s Cyber-West Resident Agency.

These law enforcement actions were taken in conjunction with Operation PowerOFF, an ongoing, coordinated effort among international law enforcement agencies aimed at dismantling criminal DDoS-for-hire infrastructures worldwide, and holding accountable the administrators and users of these illegal services. Principal partners in Operation PowerOFF include EUROPOL; the United States Attorney’s Office for the District of Alaska; The Department of Justice Computer Crime and Intellectual Property Section (CCIPS); FBI’s Anchorage and Los Angeles field offices; HSI’s Columbus field office; Germany’s Bundeskriminalamt (BKA); United Kingdom’s National Crime Agency (NCA); Netherlands Police; Polish Central Cybercrime Bureau; Brazilian Federal Police, Japan’s National Police Agency, France’s Police Nationale, and many others.

Assistance was provided by Akamai, Amazon Web Services, Cloudflare, Digital Ocean, Flashpoint, Google, PayPal, The University of Cambridge, and Unit 221B.

Assistant United States Attorneys James E. Dochterman of the Asset Forfeiture and Recovery Section and Aaron Frumkin of the Cyber and Intellectual Property Crimes Section are handling this investigation.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: MS-13 Gang Member Sentenced to 55 Years in Prison for the Murders of Four Young Men in a Central Islip Park

Source: Office of United States Attorneys

The Defendant, Omar Antonio Villalta, a.k.a. “Anticristo,” Also Committed a Fifth Murder in Virginia After Fleeing Long Island to Evade Law Enforcement

Earlier today, at the federal courthouse in Central Islip, Omar Antonio Villalta, also known as “Anticristo,” a member of the Guanacos Lil Cycos Salvatruchas (Guanacos) clique of the violent transnational criminal organization La Mara Salvatrucha, also known as the MS-13, was sentenced by United States District Judge Gary R. Brown to 55 years’ imprisonment. On May 26, 2023, Villalta pleaded guilty to racketeering, including predicate acts of murder and conspiracy to murder rival gang members. The charges stemmed from his involvement in the April 11, 2017 murders of Justin Llivicura, Michael Lopez, Jorge Tigre, and Jefferson Villalobos, who were hacked to death in a Central Islip park, and his involvement in the July 3, 2017 murder of Marvin Rivera Guevara, in Charlottsville, Virginia.

Joseph Nocella, Jr., United States Attorney for the Eastern District of New York; Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI); and Kevin Catalina, Commissioner, Suffolk County Police Department (SCPD), announced the sentence.

“My Office and our law enforcement partners have worked endlessly to hold MS-13 accountable for their unspeakable crimes and the harm they’ve caused to countless victims and their loved ones,” stated United States Attorney Nocella. “This sentencing and others demonstrate our relentless pursuit to dismantle MS-13 and other violent criminal organizations in totality.”

“Omar Antonio Villalta, an MS-13 member, repeatedly played judge, jury, and executioner by unlawfully issuing death sentences to five victims perceived to be disrespectful or rivals to the gang,” stated FBI Assistant Director in Charge Raia. “These slaughters reflect the gang’s gruesome retributive tactics while demonstrating utter disregard for life with the rapid succession of murders. May today’s legitimate sentencing reflect the FBI’s steadfast commitment to dismantling any gang from plaguing our communities with rampant violence.”

“The torture carried out at the hands of Villalta was inconceivable and sadistic— all because of his devotion to MS-13,” stated Suffolk County Police Commissioner Kevin Catalina. “His crimes sent shock waves through our communities but thanks to our collaboration with our law enforcement partners, Villalta was apprehended, and we will continue to target violent gang members who are a threat public safety.”

As set forth in the government’s sentencing memorandum, prior court filings, and statements during the sentencing, Llivicura, Lopez, Tigre, and Villalobos were lured to their deaths by Villalta and more than a dozen other members and associates of the MS-13. Specifically, the victims were led to a community park in Central Islip (the Park) by two female associates of the MS-13, Leniz Escobar and Keyli Gomez, where they were attacked by members and associates of the gang, including Josue Portillo, Freiry Martinez, Alexis Hernandez, Edwin Rodriguez, Sergio Segovia-Pineda, Henry Salmeron, Anderson Sanchez, and others.

The MS-13 members believed the victims to be members of a rival gang and at least two of the victims had offended the MS-13 by posting photos on social media in which they wore certain items and flashed hand signs that signified membership in the MS-13 gang. After the gang-related photos were brought to their attention by Escobar and Gomez, Villalta and several other MS-13 members formulated and carried out a plan to kill the victims. On the night of the murders, Villalta and more than a dozen other MS-13 members and associates gathered in the woods adjacent to the Park. Once there, the members who had been planning the attack, including Villalta, instructed the others to prepare themselves, as the female associates were luring a group of rivals to the Park for them to attack and kill.

Villalta distributed weapons to certain gang members, including knives and machetes, while others took clubs made of tree limbs as the group waited for the victims to arrive. Meanwhile, Escobar and Gomez met the victims, drove with them to the Park, led them to a predetermined wooded area, and sent the MS-13 members text-messages notifying them of their arrival. The MS-13 members and associates proceeded to the designated location and encircled the victims under the cover of darkness. One of the intended victims immediately fled and was able to escape. Llivicura, Lopez, Tigre, and Villalobos were surrounded by the MS-13 members, who attacked them with machetes, knives, an axe, and wooden clubs. After the attack, the MS-13 members dragged the victims’ bodies to a more secluded spot in the woods, piled them up, and fled. The victims’ bodies were discovered the following evening.

Following the murders, Villalta fled to Charlottesville, Virginia, where he connected with local MS-13 members. He soon began work at a pizzeria with a fellow MS-13 member. Within days of starting work, Villalta reported to other MS-13 members, including the leader of the Guanacos clique, that a co-worker, Marvin Rivera Guevara, had flashed an 18th Street gang hand sign indicating his membership in one of the MS-13’s principal rivals. Villalta was given authorization to kill the victim and a plan was quickly developed to carry out the murder. On the evening of July 3, 2017, the MS-13 member who worked at the pizzeria convinced the victim to drive with him to a remote location under the guise of smoking marijuana and meeting women. Once they arrived at the designated location, Villalta and other MS-13 members forced the victim at gunpoint deeper into the woods where they attacked him with a machete and knives. Villalta and the others then threw the victim’s body off a nearby bridge into the river below.

More than a dozen MS-13 members and associates have been charged in connection with the April 11, 2017 quadruple murder, including the individuals listed above. Of these defendants, Villalta is the sixth person to be sentenced. Josue Portillo was sentenced to 55 years’ imprisonment; Freiry Martinez to 50 years’ imprisonment; Leniz Escobar to 50 years’ imprisonment; Anderson Sanchez to 32 years’ imprisonment; and Alexis Hernandez to 29 years’ imprisonment. The remaining defendants are awaiting sentence.

Today’s sentencing is the latest in a series of federal prosecutions by the United States Attorney’s Office for the Eastern District of New York targeting members of MS-13. Since 2010, the Office has obtained indictments charging MS-13 members with carrying out more than 70 murders in the Eastern District of New York, resulting in the convictions of dozens of MS-13 leaders and members in connection with those murders. These prosecutions are the product of investigations led by the FBI’s Long Island Gang Task Force, which is comprised of agents and officers of the FBI, SCPD, Nassau County Police Department, Nassau County Sheriff’s Department, Suffolk County Probation Office, Suffolk County Sheriff’s Office, the New York State Police, the Hempstead Police Department, the Rockville Centre Police Department, and the New York State Department of Corrections and Community Supervision.

This case is also part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and other transnational criminal organizations, and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Project Safe Neighborhood.

The government’s case is being handled by the Criminal Section of the Office’s Long Island Division. Assistant United States Attorneys Paul G. Scotti, Justina L. Geraci, and Megan E. Farrell are in charge of the prosecution, with the assistance of Automated Litigation Support Specialist Michael Compitello.

The Defendant:

OMAR ANTONIO VILLALTA (also known as “Anticristo”)
Age: 29
Central Islip, New York

E.D.N.Y. Docket No. 16-CR-403 (S-8) (GRB)

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Justice Department Announces Results of Operation Restore Justice
Source: Office of United States Attorneys

205 Child Sex Abuse Offenders Arrested in FBI-led Nationwide Crackdown, Including Two in the Western District of Oklahoma

OKLAHOMA CITY – Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation, and the FBI will continue to be relentless in our pursuit of those who exploit the most vulnerable among us,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children.”

“Those who prey upon children leave a horrific trail of lives damaged and futures destroyed,” said United States Attorney Robert J. Troester. “My office is proud to join with our partners at the FBI and U.S. Attorney’s Offices across the country to prioritize the safety of children and bringing justice to those who seek to harm them.”

“Operation Restore Justice is not just about upholding the rule of law – it’s about standing up as a society for the safety of children and showing predators that we will not allow them to rob kids of their innocence,” said FBI Oklahoma City Special Agent in Charge Doug Goodwater. “The FBI is proud to collaborate with our law enforcement partners every single day to ensure anyone involved in criminal behavior against a child is brought to justice.”

Defendants in the Western District of Oklahoma have been charged as follows:
- COLT TRAVIS GLADDING, SR., 41, of Coyle, Oklahoma, has been charged by Complaint with sexual exploitation of a child and possession of material containing child pornography. According to the Complaint, on July 15, 2024, officers with the Troy Police Department (TPD) in Troy, New Hampshire, received a report regarding the sexual abuse of a minor. The minor reported that between the ages of 14 and 16, she lived in Coyle, Oklahoma, where she was sexually abused by Gladding several times over two years. Gladding also coerced the victim to send him photos that were sexual in nature. If found guilty, Gladding faces not less than 15 years and up to 50 years in federal prison, and fines of up to $500,000.
- DALTON CUNNINGHAM, 31, of Alva, Oklahoma, has been charged by Complaint with possession of and/or access with intent to view child pornography. According to the Complaint, the FBI obtained a federal search warrant for Cunningham’s phone and found videos and images of child sexual abuse material, including files depicting prepubescent children. If found guilty, Cunningham faces up to 20 years in federal prison and a fine of up to $250,000.
*The public is reminded that these charges are merely allegations, and that the defendants are innocent unless and until proven guilty beyond a reasonable doubt.

Others arrested around the country are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, N.Y.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April, and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org.

The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children

How we can help you: Parents and caregivers protecting your kids

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –
May 8, 2025

MIL-OSI Security: Justice Department Announces Results of Operation Restore Justice:

Source: Office of United States Attorneys

205 Child Sex Abuse Offenders Arrested in FBI-led Nationwide Crackdown, Including Four in the Southern District of Indiana

May 7, 2025 – Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation, and the FBI will continue to be relentless in our pursuit of those who exploit the most vulnerable among us,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children.”

“Children are the foundation of our communities. It is not their burden to protect themselves; it is our absolute responsibility as adults to shield them from the egregious predators charged today,” said John E. Childress, Acting United States Attorney for the Southern District of Indiana. “I commend the exceptional and tireless work of our law enforcement partners and AUSAs Tiffany Preston, Carolyn Haney, Samantha Spiro, and Jeremy Kemper, who are doing their part to execute Operation Restore Justice.”

“Behind every arrest during Operation Restore Justice was a child who was being exploited – who was suffering in silence,” said FBI Indianapolis Acting Special Agent in Charge Dominique Evans. “These crimes are both heartbreaking and deeply disturbing and the FBI remains committed to identifying and investigating these cases and ensuring those who responsible for such heinous acts are held accountable. Our hope is that these children now have a chance to heal and to rebuild their lives in safety, free from fear and surrounded by the care and support they need.”

In the Southern District of Indiana, the following four individuals were arrested and charged with federal crimes:

Defendant Name(s)	Offense(s) Charge
Raymond Robert Lapensee, Jr., 33, of Evansville	Possession of Sexually Explicit Material Involving Minors (3 Counts)
James Dean Collett, Jr, 29, of New Albany	Sexual Exploitation of a Child and Attempt (4 Counts) Possession of Child Pornography (2 Counts)
Eric Lee Dicken, 35, of Columbus	Possession of Child Pornography
Beau R. Thornburgh, 45, of Lebanon *Convicted sex offender	Possession of Child Pornography

Others arrested around the country are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, N.Y.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April, this effort and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org.

The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

An indictment or criminal complaint are merely allegations, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

###

MIL Security OSI –

May 8, 2025

MIL-OSI Security: Justice Department Announces Results of Operation Restore Justice: 205 Child Sex Abuse Offenders Arrested in FBI-led Nationwide Crackdown, Including in the District of Utah

Source: Office of United States Attorneys

SALT LAKE CITY, Utah – Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation, and the FBI will continue to be relentless in our pursuit of those who exploit the most vulnerable among us,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children.”

“When it comes to child sex abuse, Utah is no exception to the rest of the country and there is no shortage of work for our prosecutors or law enforcement partners,” said Acting U.S. Attorney Felice John Viti of the U.S. Attorney’s Office for the District of Utah. “No matter the age or demographic, any child can become a victim and keeping our children safe is a top priority in the District of Utah.”

“If your child has access to the internet, he or she is likely to encounter a predator looking to entice or harm them,” said Special Agent in Charge Mehtab Syed of the Salt Lake City FBI. “The FBI’s Child Exploitation and Human Trafficking Task Force combines the resources and expertise of our law enforcement partners to safeguard society’s most vulnerable.”

As part of this operation, FBI Salt Lake City field office investigations led to federal arrests and indictments against:

1. Gustavo Uroza-Rodriguez, charged on April 23, 2025, with attempted coercion and enticement, distribution of child pornography, and possession of child pornography.
2. Melissa Goodrich, charged on April 23, 2025, with trafficking of a minor.

Others arrested around the country are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, N.Y.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April, and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org.

The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children
How we can help you: Parents and caregivers protecting your kids

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Justice Department Announces Results of Operation Restore Justice: 205 Child Sex Abuse Offenders Arrested in FBI-led Nationwide Crackdown, Including Two in the Western District of Arkansas

Source: Office of United States Attorneys

FORT SMITH – Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children. The FBI is relentless in our pursuit of those who exploit the most vulnerable among us.”

“Our top priority in Western Arkansas is making our communities safer and better,” said the United States Attorney for Western Arkansas, David Clay Fowlkes. “This crucial mission begins with protecting those who cannot protect themselves, particularly children residing in Western Arkansas. This operation, and many others like it, are vital to helping us accomplish this important mission by concentrating our efforts on prosecuting those who engage in child abuse. Furthermore, this operation serves as a significant demonstration of our collaborative partnerships with federal, local, and state law enforcement officers who share our unwavering commitment to pursuing these important cases.”

“This operation is a testament to the efforts of the FBI and our dedicated law enforcement partners to protect children in our communities,” said FBI Little Rock Special Agent in Charge Alicia D. Corder. “FBI Little Rock will continue to prioritize these investigations, seek justice for victims and hold predators accountable for their actions.”

Others arrested around the country are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, N.Y.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org.

The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children

How we can help you: Parents and caregivers protecting your kids

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Pendleton County Man Facing Child Pornography Charges as a part of Nationwide Initiative “Operation Restore Justice”

Source: Office of United States Attorneys

ELKINS, WEST VIRGINIA – Jerry Lewis Ayres, age 55, of Franklin, West Virginia, was arrested on charges of receipt and possession of child pornography as a part of the nationwide effort Operation Restore Justice.

According to court documents, the West Virginia State Police, on a tip from the Virginia State Police Internet Crimes Against Children Unit, opened an investigation into Ayres. On multiple occasions, Ayres downloaded child pornography depicting minors, some under the age of 12, in sexual acts and positions. Investigators searched Ayres’ home, phone, and computer and discovered nearly 1500 images. He is charged with receipt of child pornography and possession of child pornography.

Ayres’ arrest is a part of the Department of Justice’s Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“As a nation, we are measured by how well we protect our most vulnerable citizens including our very young as well as our elderly populations,” stated Randolph J. Bernard, Acting United States Attorney for the Northern District of West Virginia. “Operation Restore Justice is a testament to our solemn duty to ensure that our children are safe from those who would exploit and abuse them. The United States Attorney’s Office will continue to seek the most serious charges and severe penalties for those who commit these crimes.”

Ayres is facing at least five years and up to 20 years on the receipt count and facing up to 20 years on the possession count. He is currently being held in the Tygart Valley Regional Jail.

Assistant U.S. Attorney Christie Utt is prosecuting the case on behalf of the government. The FBI and the West Virginia State Police are investigating.

The U.S. Attorney’s Office works with the FBI and other law enforcement to bring those who prey upon children to justice. In the past year, the U.S. Attorney’s Office has charged 23 individuals with crimes involving sexual offenses against children, one of whom was sentenced this week to 10 years in prison for his crime. See the press release here: www.justice.gov/usao-ndwv/pr/brooke-county-man-sentenced-decade-prison-child-pornography-charge

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The FBI urges the public to remain vigilant and report suspected exploitation of a child through the tiplines at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: Justice Department Announces Results of Operation Restore Justice: 205 Child Sex Abuse Offenders Arrested in FBI-led Nationwide Crackdown, Including Four in the Western District of Missouri

Source: Office of United States Attorneys

KANSAS CITY, Mo. – Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation, and the FBI will continue to be relentless in our pursuit of those who exploit the most vulnerable among us,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children.”

In the Western District of Missouri four individuals, Clinton Gray, 47, Joplin, Mo., Andrew Charles Nicholls, 38, Columbia, Mo., and Trevor Scott Teegarden, 34, Liberty, Mo., along with one additional defendant were arrested last week in separate cases. Charges include attempted production of child pornography, attempted transfer of obscene material to a minor, receipt and distribution of child pornography, and receipt and possession of child pornography. All charging documents have been unsealed following their arrests last week.

These Western District of Missouri cases are being prosecuted by Assistant U.S. Attorney Maureen A. Brackett, Assistant U.S. Attorney Ashley Turner, and Assistant U.S. Attorney James J. Kelleher. They were investigated by the Federal Bureau of Investigation, FBI Kansas City Child Exploitation Task Force, Boone County Sheriff’s Cyber Crime Task Force, Joplin, Missouri, Police Department, Southwest Missouri Cyber Crimes Task Force, and the Bureau of Indian Affairs.

Others arrested around the country are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, N.Y.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org. The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children

How we can help you: Parents and caregivers protecting your kids

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

May 8, 2025
MIL-OSI Security: FBI Arrests 205 Alleged Child Sex Abuse Offenders in Five Day Nationwide Crackdown

Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

In an unprecedented nationwide operation to protect our children and mark April’s National Child Abuse Prevention Month, the FBI announces Operation Restore Justice, a five-day, sweeping FBI initiative to identify, track, and arrest child sex predators across the country in coordination with all 55 of our FBI field offices.

FBI Cleveland Field arrested 11 people as part of this operation. Since the start of 2025, the division identified and arrested 28 individuals for violent crimes against children and in 2024, identified and arrested 37 individuals.

“Preying on children, the most vulnerable members of our community, is appalling. These arrests highlight the importance of strong partnerships and unwavering collaboration with members of our federal, state, and local agencies,” said FBI Cleveland Special Agent in Charge Greg Nelsen. “The FBI and our partners are fully committed to protecting children from abuse while ensuring those who exploit or harm them are identified and investigated, and their networks of nefarious activity are dismantled.”

Last week alone, the FBI arrested 205 subjects and rescued 115 children across the country during the surge of resources deployed for Operation Restore Justice. The subjects arrested in this operation included those in positions of public trust–law enforcement, members of the military and teachers. Others are your neighbors, proving criminal activity can be found even in the most familiar places. They’re accused of various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking.

But our work didn’t just happen last week. Throughout the entire month of April, the FBI along with our state and local law enforcement partners, additionally arrested more than 190 perpetrators on charges related to crimes against children. With nearly 400 arrests in one month, these actions are the direct result of the FBI’s continued efforts to track down and stop sexual predators before they can harm more victims.

While the number of arrests is significant, the details of the cases underscore the disturbing nature of the crimes. In Minneapolis, MN, a state trooper and Army Reservist was arrested for producing sexual abuse material of a young child while wearing his uniforms. In Norfolk, VA, an illegal immigrant from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former MPD Police Officer previously convicted for sex trafficking was again arrested for doing the same thing. He’s accused of trafficking additional young victims while on supervised release. In Louisville, KY, two teachers were charged in separate incidents after alleged misconduct with students involving inappropriate communication and behavior. 

In some cases, it was the vigilance of parents and community outreach efforts that played a critical role in bringing these offenders to justice. In one case, a California man was arrested eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, NY. In another case, a tip from the victim’s parents led to a man accused of coercing a minor into sending inappropriate images over social media.

This operation was the result of a dedicated and targeted effort, reflecting countless hours of work by hundreds of special agents, intel analysts and other FBI personnel. It further emphasizes the FBI’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Bureau works relentlessly to investigate these crimes every day, April serves as a powerful reminder of the importance of prevention, community education and the FBI’s never-ending pursuit of criminals who exploit our children.

The FBI proactively identifies individuals involved in child sexual exploitation and the production of child sexual abuse material through our far-reaching, nationwide network of personnel and law enforcement partners. The Violent Crimes Against Children (VCAC) program provides a rapid, proactive, and comprehensive capacity to counter all threats of abuse against children. This capacity leverages partnerships within the FBI’s 89 Child Exploitation Human Trafficking Task Forces (CEHTTFs) across the country. Additionally, the FBI has Intelligence Analysts assigned to address the VCAC threat, both at Headquarters and the field. The FBI also leads a Violent Crimes Against Children International Task Force, which includes nearly 100 International Task Force Officers representing over 60 countries to expand our ability to address the threat worldwide. 

The FBI also partners with the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org. In further partnership and collaboration with NCMEC, the FBI launched the Endangered Child Alert Program (ECAP) in 2004 to identify individuals involved in the sexual abuse of children and the production of child sexual abuse material. To date, ECAP has identified 36 individuals.

For more information about the crimes investigated by the FBI as well as the variety of resources we provide to protect and keep children safe, please visit:

As always, the FBI urges the public to remain vigilant and report any suspect crime against a child to 911 and local law enforcement immediately, as well as the FBI at 1-800-CALL-FBI (225-5324), online at tips.fbi.gov, or by contacting your local FBI field office.

MIL Security OSI –

May 8, 2025
MIL-OSI USA: Justice Department Announces Results of Operation Restore Justice: 205 Child Sex Abuse Offenders Arrested in FBI-led Nationwide Crackdown

Source: US State of California

Today, the Department of Justice announced the results of Operation Restore Justice, a coordinated enforcement effort to identify, track and arrest child sex predators. The operation resulted in the rescue of 115 children and the arrests of 205 child sexual abuse offenders in the nationwide crackdown. The coordinated effort was executed over the course of five days by all 55 FBI field offices, the Child Exploitation and Obscenity Section (CEOS) in the Department’s Criminal Division, and United States Attorney’s Offices around the country.

“The Department of Justice will never stop fighting to protect victims — especially child victims — and we will not rest until we hunt down, arrest, and prosecute every child predator who preys on the most vulnerable among us,” said Attorney General Pamela Bondi. “I am grateful to the FBI and their state and local partners for their incredible work in Operation Restore Justice and have directed my prosecutors not to negotiate.”

“Every child deserves to grow up free from fear and exploitation, and the FBI will continue to be relentless in our pursuit of those who exploit the most vulnerable among us,” said FBI Director Kash Patel. “Operation Restore Justice proves that no predator is out of reach and no child will be forgotten. By leveraging the strength of all our field offices and our federal, state and local partners, we’re sending a clear message: there is no place to hide for those who prey on children.”

Those arrested are alleged to have committed various crimes including the production, distribution, and possession of child sexual abuse material, online enticement and transportation of minors, and child sex trafficking. In Minneapolis, for example, a state trooper and Army Reservist was arrested for allegedly producing child sexual abuse material while wearing his uniforms. In Norfolk, VA, an illegal alien from Mexico is accused of transporting a minor across state lines for sex. In Washington, D.C., a former Metropolitan Police Department Police Officer was arrested for allegedly trafficking minor victims.

In many cases, parental vigilance and community outreach efforts played a critical role in bringing these offenders to justice. For example, a California man was arrested about eight hours after a young victim bravely came forward and disclosed their abuse to FBI agents after an online safety presentation at a school near Albany, NY.

This effort follows the Department’s observance of National Child Abuse Prevention Month in April, this effort and underscores the Department’s unwavering commitment to protecting children and raising awareness about the dangers they face. While the Department, including the FBI, investigates and prosecutes these crimes every day, April serves as a powerful reminder of the importance of preventing these crimes, seeking justice for victims, and raising awareness through community education.

The Justice Department is committed to combating child sexual exploitation. These cases were brought as part of Project Safe Childhood, a nationwide initiative to combat the epidemic of child sexual exploitation and abuse launched in May 2006 by the Department of Justice. Led by U.S. Attorneys’ Offices and CEOS, Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the internet, as well as to identify and rescue victims. For more information about Project Safe Childhood, visit www.justice.gov/psc.

The Department partners with and oversees funding grants for the National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24/7 hotline at 1-800-THE-LOST and on missingkids.org.

The Department urges the public to remain vigilant and report suspected exploitation of a child through the FBI’s tipline at 1-800-CALL-FBI (225-5324), tips.fbi.gov, or by calling your local FBI field office.

Other online resources:

Electronic Press Kit

Violent Crimes Against Children

How we can help you: Parents and caregivers protecting your kids

An indictment is merely an allegation. The defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL OSI USA News –

May 8, 2025
MIL-OSI: Turbo Energy Showcasing Its Line of Innovative Ai-Optimized Sunbox Energy Storage Solutions at Intersolar Europe 2025
Source: GlobeNewswire (MIL-OSI)

VALENCIA, Spain, May 07, 2025 (GLOBE NEWSWIRE) — Turbo Energy S.A. (Nasdaq: TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced that the Company is showcasing its growing line of smart SUNBOX energy storage solutions at Intersolar Europe, being held in Munich, Germany beginning today and continuing through Friday, May 9, 2025. As the world’s leading exhibition for the solar industry, Intersolar consistently attracts more than 110,000 participants each year, providing a premier opportunity to connect with partners, customers and peers across Europe and beyond. For Turbo Energy, this event is expected to play a vital role in sharing its latest energy storage advancements, strengthening business relationships and continuing to expand the Company’s impact on the global renewable energy market.

Join Turbo Energy at Intersolar Europe 2025 in Munich, Germany at Booth B1.430 in Hall B1

Turbo Energy can be found at Booth B1.430 in Hall B1, where several of the Company’s senior executives and top technical, sales and marketing representatives will be on hand to discuss how AI-enabled SUNBOX solutions for residential, commercial/industrial and utility-scale applications are helping to transform the way energy is stored and managed.

NOTE TO MEDIA: To schedule an interview with a member of Turbo Energy’s senior management on-site at the event, please contact Silvia Perez Rios at silviaperez@turbo-e.com.

About Turbo Energy, S.A.

Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, please visit www.turbo-e.com.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

For more information, please contact:
At Turbo Energy, S.A.
Dodi Handy, Director of Communications
Phone: 407-960-4636
Email: dodihandy@turbo-e.com

Attachment
- Join Turbo Energy at Intersolar Europe 2025 in Munich, Germany at Booth B1.430 in Hall B1
The MIL Network –
May 8, 2025
MIL-OSI Global: Why are India and Pakistan on the brink of war and how dangerous is the situation? An expert explains

Source: The Conversation – UK – By Natasha Lindstaedt, Professor in the Department of Government, University of Essex

India has launched military strikes against a number of sites in Pakistan and Pakistan’s side of the disputed region of Kashmir, reportedly killing 26 people and injuring dozens more. India claimed the attacks were on terrorist infrastructure, but Pakistan denied this, and said these were civilians.

India says another ten people on the Indian side of the Kashmir region have been killed by shelling from Pakistan in the same period.

The exchange comes two weeks after a terrorist attack in Kashmir killed 26 people. The group Resistance Front (TRF), which India argues is a proxy for the Pakistani-based terrorist group Lashkar-e-Taiba, claimed responsibility for the attack.

India claimed that Pakistan had indirectly supported the terrorist attack, but Pakistan vehemently denies this.

The escalating conflict between two of the world’s major military powers has the potential to destablise Asia and beyond. Already, many countries around the world, including the UK, France and Russia, have made public their concerns about what happens next.

Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.

How do India and Pakistan’s militaries compare?

India is ranked as one of the world’s top five military nations by Military Watch magazine and Pakistan is ranked ninth. Both countries have nuclear weapons.

Overall, India is considered to have the military edge with a bigger and more modern military force, while Pakistan has a smaller and more agile force that has been primarily focused on defensive and covert activities.

While neither country has used nuclear weapons in a conflict, there are always concerns that this norm may be broken. Both countries are nuclear powers with India holding 180 nuclear warheads, and Pakistan possessing about 170.

Though India has a “no first use” policy, which it claims means the country would never use nuclear weapons first, there have been signs it is reconsidering this policy since 2019.

Pakistan has never declared a no first use policy and argues that tactical nuclear weapons are important to countering India’s larger conventional forces.

Details of Indian air strikes.

The concern is that even if a small nuclear exchange were to take place between the two countries, it could kill up to 20 million people in a matter of days.

Why are the countries fighting over Kashmir?

Kashmir has been a source of tension and conflict even before India and Pakistan gained independence from the British empire in 1947. Originally the Muslim-majority Kashmir was free to accede to either India or Pakistan.

While the local ruler (maharaja), Hari Singh, originally wanted Kashmir to be independent, he eventually sided with India, leading to a conflict in 1947. This resulted in a UN-mediated ceasefire in 1949 and agreement that Kashmir would be controlled partly by Pakistan and partly by India, splitl along what’s known as the Line of Surveillance (or Line of Control).

As Kashmir is rich in minerals such as borax, sapphire, graphite, marble, gypsum and lithium, the region is strategically important. It is also culturally and historically important to both Pakistan and India.

Read more:
India and Pakistan tension escalates with suspension of historic water treaty

Due to the region’s significance and disagreement over sovereignty, multiple conflicts have taken place over Kashmir, with wars erupting in 1965 and 1999. Tensions were renewed in 2016, after 19 Indian soldiers were killed in Uri, on the Indian side of Kashmir. India responded by launching “surgical strikes” across the Line of Control, targeting alleged militant bases.

Then in 2019, a bombing in Pulwama (again part of the Indian-administered Kashmir) that killed more than 40 Indian paramilitary personnel led to Indian airstrikes in Balakot which borders Kashmir. This was the first action inside Pakistan since the Indian-Pakistani conflict in 1971 and again led to retaliatory raids from Pakistan and a brief aerial conflict.

A map of the Kashmir region.
CIA, CC BY

These past conflicts never intensified further in part because India applied a massive diplomatic pressure campaign on the US, the UK and Pakistan, warning against escalation, while Pakistan showed a willingness to back down. Both sides as nuclear powers (India gained nuclear weapons in 1974 and Pakistan in 1998) had an understanding that escalating to full-scale war would be incredibly risky.

What will happen next?

The question is whether or not cooler heads will prevail this time. The strikes by India, part of Operation Sinhoor, were met with mass approval across many political lines in India, with both the ruling Bharatiya Janata party (BJP) and the opposition Congress party voicing their support for the operation.

This helps Modi gain more backing, at a time when his popularity has been falling. Modi and the BJP suffered a shocking result in the 2024 election, losing 63 seats out of 543 seats and falling short of a majority in the Lok Sabha (lower house of parliament).

Under Modi, India has been rapidly becoming more autocratic, another source of concern as such countries are more likely to take risks when it comes to conflict. As power becomes increasingly personalised and dissent is repressed, would-be autocrats may be more likely to take on bold moves to garner more public and elite support.

Pakistan may also have reason to respond with more force to India’s recent attack than in the past. Pakistan’s powerful military has often stoked fears of a conflict with India to justify its enormous military budget. Regardless of the outcome, it needs a success to sell to its domestic audience.

Pakistan has been de facto led by its military for decades, which also makes it more likely to engage in conflict. In spite of intervals of civilian rule, the military has always held a lot of power, and in contrast to India (where there is a wider role for a civilian minister of defence), the Pakistani military has more influence over nuclear and security policy.

Both military regimes and multi-party autocracies may see conflict as a way of gaining legitimacy, particularly if both regimes think their political support is unravelling.

Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences. Join The Conversation for free today.

This most recent escalation is also significant because it is the first time in the Kashmir conflict that India has struck at Punjab, considered the heart of Pakistan. Pakistan will face internal pressure to respond, settle the score and restore deterrence.

Both sides have been resolute in not losing an inch of territory. The question is how quickly diplomatic pressure can work. Neither India nor Pakistan are engaged in security dialogue, and there is no bilateral crisis management mechanisms in place.

Further complicating matters is that the US’s role as a crisis manager in south Asia has diminished. Under Donald Trump, Washington cannot be counted on. This all makes deescalating this conflict much more difficult.

Natasha Lindstaedt does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Why are India and Pakistan on the brink of war and how dangerous is the situation? An expert explains – https://theconversation.com/why-are-india-and-pakistan-on-the-brink-of-war-and-how-dangerous-is-the-situation-an-expert-explains-256125

MIL OSI – Global Reports –

May 8, 2025
MIL-OSI Security: FBI Newark Announces Arrests in National Crimes Against Children Operation: Restore Justice
Source: Federal Bureau of Investigation FBI Crime News (b)

Newark, NJ – FBI Newark and our state and local law enforcement partners arrested five people as part of a national surge of resources to arrest accused child sex abuse offenders and combat child exploitation. In a coordinated effort by all 55 FBI field offices called Operation Restore Justice, 205 people were arrested nationwide. Six children were rescued.

This initiative was a joint effort with federal, state, and local partners to coincide with the end of Child Abuse Prevention Month and highlight the FBI’s ongoing efforts to confront these crimes. Investigating child sex abuse is an ongoing, high-priority mission of the FBI. Agents and task force officers made the following five arrests in New Jersey from April 28 and May 2, 2025:
- David Tuytjens, age 69, was arrested for possession of child pornography.
- Natasha Rivas, age 23, was arrested for the distribution of child pornography.
- Dwayne Smalls Jr., age 24, was arrested for the distribution of child pornography.
- Elliott Souder, age 52, was charged with receipt and possession of child pornography.
- Keshawn Harley, age 38, was charged with possession and production of child pornography and sex trafficking of a minor.
“This week was a snapshot of the never-ending work our agents and TFOs do day in and day out to apprehend and hold accountable the vilest of criminals,” says Acting Special Agent in Charge Terence G. Reilly. “Though this marks the conclusion of Child Abuse Awareness Month, our mission is omnipresent: to protect vulnerable children from these predators by bringing them to justice. Let this be a continued reminder to guardians of children everywhere to stay present and vigilant in your young one’s lives. FBI Newark would like to thank the tireless work of our partner agencies; together, we will continue to weed these monsters out of society.”

The FBI’s Violent Crimes Against Children (VCAC) program coordinates and bolsters efforts to counter all threats of abuse and exploitation of children that fall under FBI jurisdiction—including the production, sharing, and possession of child sexual abuse material; domestic or international travel to engage sexually with children; and the extortion of children to provide sexually explicit material of themselves. The VCAC program also strives to identify, locate, and recover child victims and to strengthen partnerships that are critical to prevent abuse and capture offenders.

The FBI investigates cases through Child Exploitation and Human Trafficking Task Forces (CEHTTFs) located in each field office, allowing the FBI to combine resources with federal, state, and local law enforcement agencies. The FBI also partners with the nonprofit National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24-hour hotline at 1-800-THE-LOST and on missingkids.org.

If you are a victim or know a victim of a crime involving children, call the FBI at 1-800-CALL-FBI, the FBI Newark Field Office at 973-792-3000, or submit a tip online at tips.fbi.gov.

FBI Newark would like to thank its partners for their assistance in these cases, including New Jersey State Parole Board, Hunterdon County Prosecutor’s Office, the Passaic County Sheriff’s Office, the Somerset County Prosecutor’s Office, the IRS, the Passaic County Prosecutor’s Office, and the Bergen County Prosecutor’s Office.

MIL Security OSI –
May 8, 2025
MIL-OSI Security: FBI Cincinnati Announces Arrests as Part of Nationwide Operation Restore Justice

Source: Federal Bureau of Investigation FBI Crime News (b)

FBI Cincinnati Special Agent in Charge Elena Iatarola today announced four arrests made as part of Operation Restore Justice—a sweeping FBI initiative to identify, track, and arrest child sex predators across the country. Operation Restore Justice is a joint effort with federal, state, and local partners to coincide with the end of Child Abuse Prevention Month and highlight the FBI’s ongoing work to confront these crimes.

“I hope the message is clear – crimes against children will not be tolerated,” stated FBI Cincinnati Special Agent in Charge Elena Iatarola. “The FBI will always protect the vulnerable, especially the children in our community. We will continue to prioritize these investigations and support our partners in pursuing predators and delivering justice.”

“This nationwide operation serves as a significant reminder that, if you are a child predator, you will be identified and prosecuted, no matter where you are,” said Acting U.S. Attorney Kelly A. Norris. “The Southern District of Ohio is proud to join our law enforcement partners across the nation in the efforts to protect children and bring justice to victims.”

Last week alone, the FBI arrested 205 subjects and rescued 115 children across the country during the surge of resources deployed for Operation Restore Justice.

The local arrests made during this operation include:

William Clark Shepherd, a former Cincinnati-area resident, was arrested in Orange County, CA on April 28, 2025. He is charged with coercion and enticement of a minor after contacting a minor male victim on Roblox and later exchanging sexually explicit photos. These alleged acts occurred while Shepherd was living in Warren County, OH. The case was investigated by FBI Cincinnati with the Warren County Sheriff’s Office, the Aurora (Illinois) Police Department, and supported by the FBI Los Angeles Field Office.

Brett Jarrett Farley, of Delaware, OH, was arrested by the FBI on Thursday, May 1, 2025. Farley is accused of production/manufacturing of child sexual abuse material involving a minor in Louisiana. According to court documents, Farley contacted the minor victim via Snapchat and requested nude photographs. The FBI New Orleans Field Office provided significant assistance in this investigation.

Philip Michener, of Cambridge, OH, was arrested by the FBI on Thursday, May 1, 2025. Michener is accused of distribution, receipt, and possession of child pornography after prior conviction. FBI special agents seized several electronic devices from Michener which contained over 1,000 images and 400 videos of suspected child pornography. In 2016, Michener was convicted of state offenses related to possession of child pornography. The Cambridge Police Department and the FBI Charlotte Field Office aided in the investigation.

Dakota Michael English, of Middletown, OH, was taken into custody on Friday, May 2, 2025. English is charged with distribution of child pornography and possession of child pornography. He is accused of using the Kik app to share child pornography. A court-authorized search of his phone revealed over 700 images and videos containing suspected child pornography.

The FBI proactively identifies individuals involved in child sexual exploitation and the production of child sexual abuse material through a far-reaching, nationwide network of personnel and law enforcement partners. The Violent Crimes Against Children (VCAC) program provides a rapid and comprehensive capacity to counter threats of abuse against children. This capacity leverages partnerships within the FBI’s 89 Child Exploitation Human Trafficking Task Forces (CEHTTFs) across the country. The FBI Cincinnati Field Office leads CEHTTFs in Cincinnati, Dayton, and Columbus.

As always, the FBI urges the public to remain vigilant and report any suspected crimes against a child to 911 and local law enforcement immediately, as well as the FBI at 1-800-CALL-FBI (225-5324), online at tips.fbi.gov, or by contacting your local FBI field office.

FBI Cincinnati thanks all the law enforcement partners involved in these efforts and the U.S. Attorney’s Office for the Southern District of Ohio for prosecuting these cases.

Charging documents merely contain allegations, and defendants are presumed innocent unless proven guilty in a court of law.

MIL Security OSI –

May 8, 2025

Category: Intelligence

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