NewzIntel.com

Category: Latin America

  • MIL-OSI Security: Shiprock Man Sentenced to 10 Years for Deadly Drunk Driving Crash

    Source: US FBI

    ALBUQUERQUE – A Shiprock man has been sentenced to 10 years in federal prison for causing a deadly drunk driving crash on the Navajo Nation reservation that resulted in two deaths and serious injuries.

    According to court documents, on December 1, 2023, Brian Gonnie, 45, an enrolled member of the Navajo Nation, was operating a vehicle under the influence of alcohol on Highway 64 in Shiprock, New Mexico. He was traveling at approximately 86 mph in a 35-mph zone when he crossed into the oncoming lane and struck another vehicle head-on. The crash claimed the lives of Gonnie’s passenger and the driver of the other vehicle. A passenger in the struck vehicle sustained life-altering injuries, including multiple fractures and required extensive surgery.

    Gonnie’s blood alcohol concentration was measured at .267%, with numerous empty alcohol containers found in his vehicle. During an interview with FBI agents, Gonnie admitted to drinking and driving the night of the crash.

    Gonnie subsequently pled to two counts of involuntary manslaughter and one count of assault. Upon his release, Gonnie will be subject to up to three years of supervised release.

    U.S. Attorney Ryan Ellison Philip Russell, Acting Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    This case was investigated by the Farmington Resident Agency of the FBI Albuquerque Field Office with assistance from the Navajo Police Department and Navajo Department of Criminal Investigations and the New Mexico State Police. Assistant United States Attorney Jesse Pecoraro is prosecuting the case. 

    MIL Security OSI –

  • MIL-OSI Asia-Pac: President Lai meets Somaliland Foreign Minister Abdirahman Dahir Adam  

    Source: Republic of China Taiwan

    Details
    2025-07-22
    President Lai meets cross-party Irish Oireachtas delegation
    On the morning of July 22, President Lai Ching-te met with a cross-party delegation from the Oireachtas (parliament) of Ireland. In remarks, President Lai stated that Taiwan and Ireland are both guardians of the values of freedom and democracy. He indicated that Taiwan will continue to take action and show the world that it is a trustworthy democratic partner that can contribute to the international community, saying that we look forward to building an even closer partnership with Ireland as we work together for the well-being of our peoples and for global democracy, peace, and prosperity. A translation of President Lai’s remarks follows: Deputy Speaker John McGuinness is a dear friend of Taiwan who also chairs the Ireland-Taiwan Parliamentary Friendship Association. Thanks to his efforts over the years, support for Taiwan has grown stronger in the Oireachtas. I thank him and all of our guests for traveling such a long way to demonstrate support for Taiwan and open more doors for exchanges and cooperation. Europe is Taiwan’s third largest trading partner and largest source of foreign investment. Ireland is a European stronghold for technology and innovative industries. Just like Taiwan, Ireland is an export-oriented economy. Our industrial structures are highly complementary. We hope that Taiwan’s electronics manufacturing and machinery industries can explore deeper cooperation with Ireland’s ICT software and biopharmaceutical fields, creating win-win outcomes. In May, the Irish government launched its National Semiconductor Strategy, outlining a vision to become a global semiconductor hub. Taiwan is home to the world’s most critical semiconductor ecosystem, and our own industrial development closely parallels that of Ireland. Moreover, we aspire to build non-red technological supply chains with democratic partners. I believe that going forward, Taiwan and Ireland can bolster collaboration so as to upgrade the competitiveness of our respective semiconductor industries. Together, we can help build a values-based economic system for democracies. I was delighted to receive congratulations from Deputy Speaker McGuinness on my election. Taiwan and Ireland are both guardians of the values of freedom and democracy. This visit from our guests further attests to our common beliefs. As authoritarianism continues to expand, Taiwan will continue to take action and show the world that it is a trustworthy democratic partner that can contribute to the international community. We look forward to building an even closer partnership with Ireland as we work together for the well-being of our peoples and for global democracy, peace, and prosperity. Deputy Speaker McGuinness then delivered remarks, stating that he has been to Taiwan on many occasions and that it is a great honor to join President Lai and his staff at the Presidential Office. He said that Ireland has continued to build its strong relationship with Taiwan based on our democratic values and the interests that we have in trade throughout the world, strengthening this relationship based on culture, education, and more. Noting that he served with many other diplomats from Taiwan, he said all had the same goal, which was to further the interests of the Ireland-Taiwan friendship and to ensure that it grows and prospers. The deputy speaker then extended to President Lai the delegation’s best wishes for his term in office, stating that they commit to the same values as the previous friendship groups that have been visiting Taiwan. He went on to say that some members of the group are newly elected, representing the next generation of the association, and that they are committed to working together with Taiwan to stand strong in the defense of democracy. Deputy Speaker McGuinness also noted that the father of Deputy Ken O’Flynn, one of the delegation members, played an important role as a former chairman of the association, remarking that it is good to see such continuity taking place. Deputy Speaker McGuiness said that he believes the world is facing huge challenges and uncertainty in terms of our markets and trade with one another. He said we have to watch for what the United States will do next and be conscious of what China is doing, emphasizing that the European Union stands strong in the center of this, while Ireland plays a huge role in the context of democracy, trade, and the betterment of all things for the citizens that they represent. The deputy speaker then stated that while we focus on the development of AI that is extremely important for all of us, we can work together to ensure that we control AI rather than AI controlling us. He also remarked that we cannot lose sight of our traditional trading means, saying that we have to keep all of our trade together, expand on that trade, and then take on the new technologies that come before us. Deputy Speaker McGuinness concluded his remarks by thanking President Lai for receiving the delegation, stating that they commit to their continuation of support for Taiwan and for democracy. Also in attendance were Deputies Malcolm Byrne and Barry Ward, and Senator Teresa Costello.

    Details
    2025-07-22
    President Lai meets official delegation from European Parliament’s Special Committee on the European Democracy Shield
    On the morning of July 22, President Lai Ching-te met with an official delegation from the European Parliament’s Special Committee on the European Democracy Shield (EUDS). In remarks, President Lai thanked the committee for choosing to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe. President Lai emphasized that Taiwan, standing at the very frontline of the democratic world, is determined to protect democracy, peace, and prosperity worldwide. He expressed hope that we can share our experiences with Europe to foster even more resilient societies. A translation of President Lai’s remarks follows: Firstly, on behalf of the people of Taiwan, I extend a warm welcome to your delegation, which marks another official visit from the European Parliament. The Special Committee on the EUDS aims to strengthen societal resilience and counter disinformation and hybrid threats. Having been constituted at the beginning of this year, the committee has chosen to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe and the unlimited possibilities for deepening cooperation on issues of concern. I am also delighted to see many old friends of Taiwan gathered here today. I deeply appreciate your longstanding support for Taiwan. Taiwan and the European Union enjoy close trade and economic relations and share the values of freedom and democracy. However, in recent years, we have both been subjected to information manipulation and infiltration by foreign forces that seek to interfere in democratic elections, foment division in our societies, and shake people’s faith in democracy. Taiwan not only faces an onslaught of disinformation, but also is the target of gray-zone aggression. That is why, after taking office, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office, with myself as convener. The committee is a platform that integrates domestic affairs, national defense, foreign affairs, cybersecurity, and civil resources. It aims to strengthen the capability of Taiwan’s society to defend itself against new forms of threat, pinpoint external and internal vulnerabilities, and bolster overall resilience and security. The efforts that democracies make are not for opposing anyone else; they are for safeguarding the way of life that we cherish – just as Europe has endeavored to promote diversity and human rights. The Taiwanese people firmly believe that when our society is united and people trust one another, we will be able to withstand any form of authoritarian aggression. Taiwan stands at the very frontline of the democratic world. We are determined to protect democracy, peace, and prosperity worldwide. We also hope to share our experiences with Europe and deepen cooperation in such fields as cybersecurity, media literacy, and societal resilience. Thank you once again for visiting Taiwan. Your presence further strengthens the foundations of Taiwan-Europe relations. Let us continue to work together to uphold freedom and democracy and foster even more resilient societies. EUDS Special Committee Chair Nathalie Loiseau then delivered remarks, saying that the delegation has members from different countries, including France, Germany, the Czech Republic, Poland, and Belgium, and different political parties, but that they have in common their desire for stronger relations between the EU and Taiwan. Committee Chair Loiseau stated that the EU and Taiwan, having many things in common, should work more together. She noted that we have strong trade relations, strong investments on both sides, and strong cultural relations, while we are also facing very similar challenges and threats. She said that we are democracies living in a world where autocracies want to weaken and divide democracies. She added that we also face external information manipulation, cyberattacks, sabotage, attempts to capture elites, and every single gray-zone activity that aims to divide and weaken us. Committee Chair Loiseau pointed out another commonality, that we have never threatened our neighbors. She said that we want to live in peace and we care about our people; we want to defend ourselves, not to attack others. We are not being threatened because of what we do, she emphasized, but because of what we are; and thus there is no reason for not working more together to face these threats and attacks. Committee Chair Loiseau said that Taiwan has valuable experience and good practices in the area of societal resilience, and that they are interested in learning more about Taiwan’s whole-of-society approach. They in Europe are facing interference, she said, mainly from Russia, and they know that Russia inspires others. She added that they in the EU also have experience regulating social media in a way which combines freedom of expression and responsibility. In closing, the chair said that they are happy to have the opportunity to exchange views with President Lai and that the European Parliament will continue to strongly support relations between the EU and Taiwan. The delegation also included Members of the European Parliament Engin Eroglu, Tomáš Zdechovský, Michał Wawrykiewicz, Kathleen Van Brempt, and Markéta Gregorová.

    Details
    2025-07-17
    President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  
    On the morning of July 17, President Lai Ching-te met with a delegation led by Nery Abilio Ramos y Ramos, the president of the Congress of the Republic of Guatemala. In remarks, President Lai thanked Congress President Ramos and the Guatemalan Congress for their support for Taiwan, and noted that official diplomatic relations between Taiwan and Guatemala go back more than 90 years. As important partners in the global democratic community, the president said, the two nations will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. A translation of President Lai’s remarks follows:  I recall that when Congress President Ramos visited Taiwan in July last year, he put forward many ideas about how our countries could promote bilateral cooperation and exchanges. Now, a year later, he is leading another cross-party delegation from the Guatemalan Congress on a visit, demonstrating support for Taiwan and continuing to help deepen our diplomatic ties. In addition to extending a sincere welcome to the distinguished delegation members who have traveled so far to be here, I would also like to express our concern and condolences for everyone in Guatemala affected by the earthquake that struck earlier this month. We hope that the recovery effort is going smoothly. Official diplomatic relations between Taiwan and Guatemala go back more than 90 years. In such fields as healthcare, agriculture, education, and women’s empowerment, we have continually strengthened our cooperation to benefit our peoples. Just last month, Guatemala’s President Bernardo Arévalo and the First Lady led a delegation on a state visit to Taiwan. President Arévalo and I signed a letter of intent for semiconductor cooperation, and also witnessed the signing of cooperation documents to establish a political consultation mechanism and continue to promote bilateral investment. This has laid an even sounder foundation for bilateral exchanges and cooperation, and will help enhance both countries’ international competitiveness. Taiwan is currently running a semiconductor vocational training program, helping Guatemala cultivate semiconductor talent and develop its tech industry, and demonstrating our determination to share experience with democratic partners. At the same time, we continue to assist Taiwanese businesses in their efforts to develop overseas markets with Guatemala as an important base, spurring industrial development in both countries and increasing economic and trade benefits. I want to thank Congress President Ramos and the Guatemalan Congress for their continued support for Taiwan’s international participation. Representing the Guatemalan Congress, Congress President Ramos has signed resolutions in support of Taiwan, and has also issued statements addressing China’s misinterpretation of United Nations General Assembly Resolution 2758. Taiwan and Guatemala, as important partners in the global democratic community, will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. Congress President Ramos then delivered remarks, first noting that the members of the delegation are not only from different parties, but also represent different classes, cultures, professions, and departments, which shows that the diplomatic ties between Guatemala and the Republic of China (Taiwan) are based on firm friendships at all levels and in all fields. Noting that this was his second time to visit Taiwan and meet with President Lai, Congress President Ramos thanked the government of Taiwan for its warm hospitality. With the international situation growing more complex by the day, he said, Guatemala highly values its longstanding friendship and cooperative ties with Taiwan, and hopes that both sides can continue to deepen their cooperation in such areas as the economy, technology, education, agriculture, and culture, and work together to spur sustainable development in each of our countries. Congress President Ramos said that the way the Taiwan government looks after the well-being of its people is an excellent model for how other countries should promote national development and social well-being. Accordingly, he said, the Guatemalan Congress has stood for justice and, for a second time, adopted a resolution backing Taiwan’s participation in the World Health Assembly. Regarding President Arévalo’s state visit to Taiwan the previous month, Congress President Ramos commented that this high-level interaction has undoubtedly strengthened the diplomatic ties between Taiwan and Guatemala and led to more opportunities for cooperation. Congress President Ramos emphasized that democracy, freedom, and human rights are universal values that bind Taiwan and Guatemala together, and that he is confident the two countries’ diplomatic ties will continue to grow deeper. In closing, on behalf of the Republic of Guatemala, Congress President Ramos presented President Lai with a Chinese translation of the resolution that the Guatemalan Congress proposed to the UN in support of Taiwan’s participation in international organizations, demonstrating the staunch bonds of friendship between the two countries. The delegation was accompanied to the Presidential Office by Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-07-01
    President Lai meets delegation from 2025 Taiwan International Ocean Forum
    On the afternoon of July 1, President Lai Ching-te met with a delegation from the 2025 Taiwan International Ocean Forum (TIOF). In remarks, President Lai noted that the people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. He expressed hope that their visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. A translation of President Lai’s remarks follows: I want to thank our guests for coming here to the Presidential Office. The 2025 TIOF will take place tomorrow and the day after, and I thank you all for making the long trip to Taiwan to attend the event and share your valuable insights and experiences. This year’s forum will focus on strategies for strengthening maritime security and pathways to achieving a sustainable blue economy. By attending this forum, our guests are highlighting their commitment to safeguarding the oceans, and beyond that, taking concrete action to demonstrate support for Taiwan. I once again offer deepest gratitude on behalf of the people of Taiwan. Taiwan holds a key position on the first island chain, is one of the world’s top 10 shipping nations, and accounts for close to 10 percent of global container shipping by volume. As such, Taiwan occupies a unique and important position in maritime strategy. For Taiwan, the ocean is more than just a basis for survival and development; it is also an important driver of national prosperity. In my inaugural address last year, I spoke of a threefold approach to further Taiwan’s development. One of these involves further developing our strengths as a maritime nation. Our government must actively help deepen our connections with the ocean, and must continue to promote green shipping, a sustainable fishing industry, marine renewable energy, and other forms of industrial transformation. It must also make use of marine technology and digital innovation to create a new paradigm that balances environmental, economic, and social inclusion concerns. This will help enhance Taiwan’s responsibilities and competitiveness as a maritime nation. Taiwan is surrounded by ocean, and our territorial waters are a natural protective barrier. However, continued gray-zone aggression from China creates serious threats and challenges to peace and stability in the Taiwan Strait. Our government continues to invest resources to deal with increasingly complex maritime security issues. In addition to building coast guard patrol vessels, we must also step up efforts to build underwater, surface, and airborne unmanned vehicles and smart reconnaissance equipment, so as to demonstrate Taiwan’s determination to defend democracy and freedom and commitment to maintaining peace and stability in the Taiwan Strait. Oceans are Taiwan’s roots, and provide the channels by which we engage with the world. The people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. The TIOF was first launched in 2020, and has now become an important platform for enhancement of cooperation between Taiwan and other countries. I hope that our distinguished guests will reap great benefits at this year’s forum, and further hope that this visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. Chairman of The Washington Times Thomas McDevitt, a member of the delegation, then delivered remarks, noting first that July 4th, this Friday, is Independence Day in America. Independence is a sacred, powerful word which has great meaning in this part of the world, he said. Chairman McDevitt indicated that Taiwan has truly become a global beacon of democracy and a key partner for many nations. He then quoted President Lai’s 2024 inaugural address: “We will work together to combat disinformation, strengthen democratic resilience, address challenges, and allow Taiwan to become the MVP of the democratic world.” Chairman McDevitt went on to say that he appreciated the president’s speech with regard to his philosophical depth, sensitivity, and both moral and political clarity. He said that he was deeply moved by the speech, but within a few days of it, China responded with military activities and many threats. The chairman then emphasized that we are in a civilization crisis. Chairman McDevitt mentioned that President Lai has begun a series of 10 lectures, and remarked that they would help the world to understand the identity and the nature of Taiwan, as well as the situation we are in in the world. On behalf of all the delegation, Chairman McDevitt thanked the president for his leadership in dealing with these issues thoughtfully. Chairman McDevitt concluded with a line from the Old Testament which states that if the people have no vision, they will perish. He said that he believes Taiwan’s president has led the people of Taiwan, and the world, with a vision of how to navigate this great civilization crisis together. The delegation also included Members of the Japanese House of Representatives Kikawada Hitoshi, Aoyama Yamato, and Genma Kentaro, and Member of Parliament of the United Kingdom Gavin Williamson.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: News 07/24/2025 VIDEO: Blackburn Slams Democrats for Obstructing President Trump’s Agenda and Will of the American People

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – U.S. Senator Marsha Blackburn (R-Tenn.) delivered remarks on the Senate floor slamming Democrats for obstructing the voting process on President Trump’s nominees, his efforts to enforce our immigration laws and secure the border, and his America First policies in the courts:

    Click here to download Senator Blackburn’s remarks on the Senate floor. 

    REMARKS AS PREPARED

    While Republicans Work to Deliver Wins for the American People, Democrats Are Obstructing President Trump’s Agenda

    In November, President Trump and Republicans received a powerful mandate from the American people to secure our border, strengthen our economy, rein in wasteful spending, and Make America Great Again.

    By passing the One Big Beautiful Bill, we delivered on this mandate by securing…

    The largest tax cut in U.S. history—including reduced taxes on tips and overtime, a $6,000 bonus deduction for seniors, and the permanent extension of President Trump’s 2017 tax cuts;

    It also reduces the burden of the death tax for millions, providing critical relief for family-owned businesses and farmers;

    It bolsters our Armed Forces with a $150 billion increase in military spending;

    It provides the largest-ever investment in border security so that we can complete the border wall and hire thousands of new Border Patrol Agents;

    It strengthens Medicaid by rooting out waste, fraud, and abuse in the program;

    It restores fiscal sanity by eliminating hundreds of billions of dollars in far-left spending;

    And it accomplishes so much more.

    These are huge wins for the American people. But our work is far from finished.

    Democrats Are Hurting Americans by Obstructing President Trump’s Nominees

    At the top of the list: confirming President Trump’s nominees.

    The President deserves to have his team in place to enact his America First agenda.

    But instead of working with us to carry out the will of the American people, our colleagues across the aisle have chosen to obstruct at any cost.

    Right now, we have 135 pending nominations in the Senate.

    There is absolutely zero reason we should have this backlog—especially with such important nominations:

    U.S. ambassadorships to the Vatican, the Netherlands, Chile, Greece, and the European Union;

    Seven federal judgeships;

    U.S. Attorneys;

    Under Secretaries for the Departments of Veterans Affairs and the Navy;

    The Commissioner of the Securities and Exchange Commission;

    And much more.

    Democrats, however, are trying to slow down the voting process on these qualified nominees as much as possible.

    They’re losing at the ballot box, in the halls of Congress, and in the courts—so stalling is all they have left to spite the President.

    They might think that they are hurting Republicans. In reality, they are hurting the American people.

    Every single day that goes by with stalled nomination votes is another day that these qualified nominees are unable to get to work on behalf of our country.

    Democrats’ Obstruction Is Nothing New – Recent Disclosures Show Obama Manufactured Russia Collusion Hoax to Derail President Trump

    Unfortunately, this obstruction is nothing new.

    With the recent disclosures from Director of National Intelligence Gabbard, we are learning even more about how President Obama and Democrats manufactured the Russia Hoax to try to derail President Trump’s first term.

    Activist Judges Have Blocked Lawful Orders from President Trump in Attempts to Obstruct His Agenda

    For months, far-left activist judges undermined our Constitution by blocking lawful orders from the Trump administration in a brazen effort to decide nationwide policy.

    Their abuse of power only came to an end when the Supreme Court reined in the use of nationwide injunctions.

    Democrats Have Obstructed ICE Agents from Enforcing Immigration Law

    And more recently, we’ve seen Democrats try their best to obstruct a core part of the America First agenda: Securing our border.

    Americans want our border to be secure. And they want criminal illegal aliens removed from their communities. 

    Across the country, ICE and Border Patrol agents have been hard at work carrying out this mandate and arresting criminals who have no right to be in our country.

    Yet Democrats are working to vilify and undermine our brave federal law enforcement.

    We’ve seen congressional Democrats try to storm ICE facilities—including a House member who faces federal charges for assaulting an ICE officer.

    They’ve smeared ICE agents who are risking their lives to protect our country, comparing them to “secret police” and the Nazis.

    They’ve pushed legislation that would prohibit officers from wearing masks, exposing them and their families to targeted harassment.

    This is all happening as ICE officers face an 830 percent surge in assaults.

    MIL OSI USA News –

  • MIL-OSI USA News: Headlines Underscore President Trump’s Promises Kept

    Source: US Whitehouse

    President Donald J. Trump has delivered on his promises unlike any commander-in-chief in history — and the wins keep coming, perfectly illustrated by three recent headlines:

    • Trump’s ‘No Tax on Tips’ policy could put thousands back in servers’ pockets (KXXV-TV, Waco, TX): “Servers and other tipped workers could see significant financial benefits from President Trump’s ‘No Tax on Tips’ policy, potentially saving thousands of dollars annually.”
    • Health Care Provider Puts Stop To Trans Surgeries On Kids (The Daily Wire): “Health care provider Kaiser Permanente confirmed to The Daily Wire on Wednesday that it was pausing all transgender surgeries for patients under the age of 19 in response to pressure from the Trump administration.”
    • Trump Delivers Most Secure Border in History — June Migrant Arrests Drop 15 Percent from Prior Record (Breitbart): “The Trump administration delivered on its promise to secure the U.S.-Mexico border and set new records for the lowest number of migrant encounters. The June Southwest Land Border Encounters Report from U.S. Customs and Border Protection shows yet another decrease in migrant encounters, including the lowest number of encounters in a single day.”

    MIL OSI USA News –

  • MIL-OSI: TransFi Announces Global Stablecoin Payment Infrastructure to Drive Real-World Adoption

    Source: GlobeNewswire (MIL-OSI)

    NEW DELHI, India, July 24, 2025 (GLOBE NEWSWIRE) — TransFi, a leading global payments infrastructure company, announces the expansion of its platform designed to power real-world adoption of stablecoins by enabling fast, secure, and compliant cross-border transactions. Operating in over 100 countries with support for more than 250 local payment methods and 40 currencies, TransFi bridges the gap between digital assets and everyday financial utility.

    As emerging markets increasingly seek stable currency alternatives, the demand for dollar-backed stablecoins is accelerating. According to a recent study by the Centre for Economics and Business Research (Cebr), users in 17 countries are willing to pay an average premium of 4.7% for access to stable digital currencies, with this figure reaching as high as 30% in inflation-affected economies like Argentina. This growing demand is projected to amount to $25.4 billion in annual premium payments by 2027.

    TransFi’s AI-powered smart routing engine optimizes the payment experience by identifying the fastest and most cost-efficient rails across both fiat and stablecoin networks. This innovation reduces settlement times from days to seconds, unlocking an estimated $2.9 billion in annual efficiency gains and addressing the $11.6 billion typically trapped in slow settlement systems.

    “Our platform is built to meet the needs of a rapidly evolving financial landscape by combining speed, security, and compliance with the benefits of stablecoins,” said Rahul Sahni, COO & CPO of TransFi. “We’re proud to provide businesses and consumers with infrastructure that turns digital assets into practical financial tools.”

    TransFi offers an enterprise-ready, regulation-compliant platform with built-in KYC and AML processes. Its key services include:

    • BizPay: Streamlined business payments with fast onboarding and low fees
    • Wallet: Multi-currency storage and conversion
    • Ramp: Instant crypto on/off-ramps via 250+ payment methods
    • Single API & Widget: Easy platform integration for businesses
    • Payouts & Collections: Comprehensive global payment infrastructure

    The company’s solutions support a wide range of use cases, including remittances, payroll, digital banking, Web3, and iGaming, enabling businesses to scale with stablecoin-powered efficiency.

    About TransFi
    TransFi is a global payments infrastructure company dedicated to bridging digital assets with real-world financial systems. With operations in over 100 countries, TransFi provides secure, compliant, and fast cross-border payment solutions, supporting 250+ local payment methods and 40+ currencies. Its AI-driven platform empowers businesses and individuals to seamlessly transact using both fiat and digital currencies.

    Media Contact:

    Farhan Ahmed
    farhan@transfi.com

    Company Website: https://www.transfi.com

    Disclaimer: This content is provided by TransFi. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7aa46009-5aaf-42c0-994c-ee95cab75bbc

    The MIL Network –

  • MIL-OSI Submissions: We tracked illegal fishing in marine protected areas – satellites and AI show most bans are respected, and could help enforce future ones

    Source: The Conversation – USA (2) – By Jennifer Raynor, Assistant Professor of Natural Resource Economics, University of Wisconsin-Madison

    A school of bigeye trevally swims near Bikar Atoll. Enric Sala/National Geographic Pristine Seas

    Marine protected areas cover more than 8% of the world’s oceans today, but they can get a bad rap as being protected on paper only.

    While the name invokes safe havens for fish, whales and other sea life, these areas can be hard to monitor. High-profile violations, such as recent fishing fleet incursions near the Galapagos Islands and ships that “go dark” by turning off their tracking devices, have fueled concerns about just how much poaching is going undetected.

    But some protected areas are successfully keeping illegal fishing out.

    In a new global study using satellite technology that can track large ships even if they turn off their tracking systems, my colleagues and I found that marine protected areas where industrial fishing is fully banned are largely succeeding at preventing poaching.

    What marine protected areas aim to save

    Picture a sea turtle gliding by as striped butterfly fish weave through coral branches. Or the deep blue of the open ocean, where tuna flash like silver and seabirds wheel overhead.

    These habitats, where fish and other marine life breed and feed, are the treasures that marine protected areas aim to protect.

    The value of marine protected areas for people and nature.

    A major threat to these ecosystems is industrial fishing.

    These vessels can operate worldwide and stay at sea for years at a time with visits from refrigerated cargo ships that ferry their catch to port. China has an extensive global fleet of ships that operate as far away as the coast of South America and other regions.

    The global industrial fishing fleet – nearly half a million vessels – hauls in about 100 million metric tons of seafood each year. That’s about a fivefold increase since 1950, though it has been close to flat for the past 30 years. Today, more than one-third of commercial fish species are overfished, exceeding what population growth can replenish.

    Large fleets of fishing boats, supported by refrigerator ships to ferry their catch to shore, can stay at sea for months at a time.
    VCG/VCG via Getty Images

    When well designed and enforced, marine protected areas can help to restore fish populations and marine habitats. My previous work shows they can even benefit nearby fisheries because the fish spill over into surrounding areas.

    That’s why expanding marine protected areas is a cornerstone of international conservation policy. Nearly every country has pledged to protect 30% of the ocean by 2030.

    Big promises – and big doubts

    But what “protection” means can vary.

    Some marine protected areas ban industrial fishing. These are the gold standard for conservation, and research shows they can be effective ways to increase the amount of sea life and diversity of species.

    However, most marine protected areas don’t meet that standard. While governments report that more than 8% of the global ocean is protected, only about 3% is actually covered by industrial fishing bans. Many “protected” areas even allow bottom trawling, one of the most destructive fishing practices, although regulations are slowly changing.

    Grey reef sharks at Bokak Pass, in the Marshall Islands’ first marine protected area, created in January 2025.
    Manu San Félix, National Geographic Pristine Seas

    The plentiful fish in better-protected areas can also attract poachers. In one high-profile case, a Chinese vessel was caught inside the Galápagos Marine Reserve with 300 tons of marine life, including 6,000 dead sharks, in 2017. This crew faced heavy fines and prison time. But how many others go unseen?

    Shining a light on the ‘dark fleet’

    Much of what the world knows about global industrial fishing comes from the automatic identification system, or AIS, which many ships are required to use. This system broadcasts their location every few seconds, primarily to reduce the risk of collisions at sea. Using artificial intelligence, researchers can analyze movement patterns in these messages to estimate when and where fishing is happening.

    But AIS has blind spots. Captains can turn it off, tamper with data or avoid using it entirely. Coverage is also spotty in busy areas, such as Southeast Asia.

    New satellite technologies are helping to see into those blind spots. Synthetic aperture radar can detect vessels even when they’re not transmitting AIS. It works by sending radar pulses to the ocean surface and measuring what bounces back. Paired with artificial intelligence, it reveals previously invisible activity.

    Synthetic aperture radar still has limits – primarily difficulty detecting small boats and less frequent coverage than AIS – but it’s still a leap forward. In one study of coastal areas using both technologies, we found in about 75% of instances fishing vessels detected by synthetic aperture radar were not being tracked by AIS.

    New global analysis shows what really happens

    Two studies published in the journal Science on July 24, 2025, use these satellite datasets to track industrial fishing activity in marine protected areas.

    Our study looked just at those marine protected areas where all industrial fishing is explicitly banned by law.

    We combined AIS vessel tracking, synthetic aperture radar satellite imagery, official marine protected area rules, and implementation dates showing exactly when those bans took effect. The analysis covers nearly 1,400 marine protected areas spanning about 3 million square miles (7.9 million square kilometers) where industrial fishing is explicitly prohibited.

    AIS transponder signals over 2017-2021 (top) and synthetic aperture radar data (bottom) both show industrial fishing activity (yellow) mostly avoiding Carrington Point State Marine Reserve, a protected area off California’s Santa Rosa Island.
    Jennifer Raynor, Sara Orofino and Gavin McDonald

    The results were striking:

    • Most of these protected areas showed little to no signs of industrial fishing.

    • We detected about five fishing vessels per 100,000 square kilometers on average in these areas, compared to 42 on average in unprotected coastal areas.

    • 96% had less than one day per year of alleged illegal fishing effort.

    The second study uses the same AIS and synthetic aperture radar data to examine a broader set of marine protected areas – including many that explicitly allow fishing. They document substantial fishing activity in these areas, with about eight times more detections than in the protected areas that ban industrial fishing.

    Combined, these two studies lead to a clear conclusion: Marine protected areas with weak regulations see substantial industrial fishing, but where bans are in place, they’re largely respected.

    We can’t tell whether these fishing bans are effective because they’re well enforced or simply because they were placed where little fishing happened anyway. Still, when violations do occur, this system offers a way for enforcement agencies to detect them.

    A reason for optimism

    These technological advances in vessel tracking have the potential to reshape marine law enforcement by significantly reducing the costs of monitoring.

    Agencies such as national navies and coast guards no longer need to rely solely on costly physical patrols over huge areas. With tools such as the Global Fishing Watch map, which makes vessel tracking data freely available to the public, they can monitor activity remotely and focus patrol efforts where they’re needed most.

    A French navy officer documents a fishing boat’s location in February 2024. Satellites make it easier to monitor activity on the ocean.
    Loic Venance/AFP via Getty Images

    That can also have a deterrent effect. In Costa Rica’s Cocos Island National Park, evidence of illegal fishing activity decreased substantially after the rollout of satellite and radar-based vessel tracking. Similar efforts are strengthening enforcement in the Galapagos Islands and Mexico’s Revillagigedo National Park.

    Beyond marine protected areas, these technologies also have the potential to support tracking a broad range of human activities, such as oil slicks and deep-sea mining, making companies more accountable in how they use the ocean.

    Jennifer Raynor receives funding from National Geographic Pristine Seas. She is a trustee at Global Fishing Watch, one of the primary data providers for this study.

    – ref. We tracked illegal fishing in marine protected areas – satellites and AI show most bans are respected, and could help enforce future ones – https://theconversation.com/we-tracked-illegal-fishing-in-marine-protected-areas-satellites-and-ai-show-most-bans-are-respected-and-could-help-enforce-future-ones-252800

    MIL OSI –

  • MIL-OSI USA: National Guard soldier deployed to South Texas to help secure border convicted of smuggling illegal aliens into US

    Source: US Immigration and Customs Enforcement

    CORPUS CHRISTI, Texas — A National Guard member deployed to South Texas to help secure the border was convicted of smuggling illegal aliens into the U.S. July 21. Findings of the smuggling were due to the combined investigation efforts of U.S. Immigration and Customs Enforcement Homeland Security Investigations Corpus Christi, the U.S. Department of Defense’s Office of the Inspector General Defense Criminal Investigative Service, and the U.S. Customs and Border Protection Office of Professional Responsibility.

    Mario Sandoval, a 27-year-old resident of Houston, was found guilty of conspiring to smuggle illegal aliens at the end of a one-day trial in the U.S. District Court for the Southern District of Texas.

    “Driven exclusively by greed, this individual betrayed the solemn oath he swore to defend when he enlisted in the National Guard,” said HSI Houston Special Agent in Charge Chad Plantz. “His actions directly undermined the very mission he was deployed to support and put his fellow guard members in danger. Working closely with our partners, we were able to expose his scheme and hold him accountable for this unconscionable betrayal of our nation’s trust.”

    Sandoval was deployed to the U.S.-Mexico border with the Texas National Guard as part of Operation Lonestar. Following release from his orders, Sandoval remained in the Rio Grande Valley and began smuggling illegal aliens into the country in July 2024.

    During his trial, the jury was provided with text messages from Sandoval’s phone expressing that drivers were needed for trips from the Rio Grande Valley to destinations north of the immigration checkpoint. Surveillance showed Sandoval’s location at the immigration checkpoint while he was sending text messages about law enforcement and K-9 patrol presence. The defense attempted to convince the jury no conspiracy existed, and his text messages were out of context. The Jury did not believe those claims and found Sandoval guilty as charged after deliberating for less than an hour.

    “The conduct in this case represents an unthinkable violation of public trust,” said U.S. Attorney Nicholas J. Ganjei. “Thousands of brave men and women, military and civilian alike, work tirelessly to keep our border secure. It is truly disheartening that one bad apple chose to betray his fellow soldiers, his fellow citizens, and his country by engaging in human smuggling. I wish to thank the jury for their time and attention to this matter.”

    Sandoval was discharged from the Texas National Guard in October 2024. He is scheduled to be sentenced Oct. 22. He faces up to 10 years in federal prison.

    Assistant U.S. Attorneys John Lamont and Ashley Martin prosecuted the case.

    For more news and information on how HSI Houston combats alien smuggling and other transnational criminal activity in Southeast Texas follow us on X at @HSIHouston.

    MIL OSI USA News –

  • MIL-OSI Security: Mexican Men Charged with Immigration-Related Crimes Following Search Warrants in Navarre

    Source: US FBI

    PENSACOLA, FLORIDA –Crescencio Diaz-Diaz, 36, and Marcelo Perez-Santiz, 33, both of the country of Mexico, have been charged in federal court with illegal reentry of a removed alien. Diaz-Diaz has additionally been charged with possession and use of fraudulent employment authorization documents.  The charges were announced by John P. Heekin, United States Attorney for the Northern District of Florida.

    Court documents allege that Crescencio Diaz-Diaz reentered the United States illegally after being previously deported in 2020.  He was encountered by federal agents during the execution of federal criminal search warrants at a Navarre business, Emerald Coast Lawns, and an adjacent residence yesterday.  During the search, agents seized a fraudulent permanent resident card (sometimes referred to as a “green card”) and social security card bearing Diaz-Diaz’s name and/or photograph but another person’s identifying information, which Diaz-Diaz allegedly admitted he presented to Emerald Coast Lawns in order to gain employment.

    Separate court documents allege that Marcelo Perez-Santiz reentered the United States illegally after being previously deported on three separate occasions in 2012 and had been found at the business address for Emerald Coast Lawns back in February.  Perez-Santiz was arrested yesterday on a criminal complaint and had an initial appearance before United States Magistrate Judge Zachary C. Bolitho.

    The penalty for illegally reentering the United States after deportation is a maximum of two years in prison and a $250,000 fine.

    The cases are being investigated by U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and Enforcement and Removal Operations with assistance from the Federal Bureau of Investigations, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, Florida Highway Patrol, United States Marshals Service and the Santa Rosa County Sheriff’s Office.  The cases are being prosecuted by Assistant United States Attorney Alicia H. Forbes.

    This case is part of Operation Take Back America (https://www.justice.gov/dag/media/1393746/dl?inline ) 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).

    A criminal complaint is merely an allegation by a sworn affiant that a defendant has committed a violation of federal criminal law and is not evidence of guilt. All defendants are presumed innocent and entitled to due process, to include a fair trial, during which it is the government’s burden to prove guilt beyond a reasonable doubt at trial.

    The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General.  To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

    MIL Security OSI –

  • MIL-OSI Analysis: Could climate anxiety be a form of pre-traumatic stress disorder? A psychologist explains the research

    Source: The Conversation – UK – By Geoff Beattie, Professor of Psychology, Edge Hill University

    Malchevska/Shutterstock

    We are living in an age of anxiety. People face multiple existential crises such as climate change and conflicts that could potentially escalate into nuclear war.

    So how do people cope with competing threats like this? And what happens to climate anxiety when wars suddenly erupt and compete for our attention?

    Climate change affects our physical and mental health, directly through extreme climate-related droughts, wildfires and intense storms. It also affects some people indirectly through so-called “climate anxiety”. This term covers a range of negative emotions and states, including not just anxiety, but worry and concern, hopelessness, anger, fear, grief and sadness.

    A team of researchers led by Caroline Hickman from the University of Bath surveyed 10,000 children and young people (aged 16 to 25 years) in ten countries (Australia, Brazil, Finland, France, India, Nigeria, Philippines, Portugal, the UK and the US). They found that 45% of respondents said their feelings about climate change negatively affected their daily lives. It was worse for respondents from developing countries.

    Climate anxiety can potentially serve a positive function. Anger, for example, can push people to act to help mitigate the effects of climate change.

    But it can also lead to “eco-paralysis”, a feeling of being overwhelmed, inhibiting people from taking any effective action, affecting their sleep, work and study, as a result of them dwelling endlessly on the problem.

    Climate anxiety is not included in the American Psychiatric Association’s authoritative guide to the diagnosis of mental disorders. In other words, it is not officially recognised as a mental disorder.

    Climate anxiety relates to other forms of clinical anxiety.
    Malchevska/Shutterstock

    Some say this is a good thing. The author and Stanford academic Britt Wray wrote: “The last thing we want is to pathologise this moral emotion, which stems from an accurate understanding of the severity of our planetary health crisis.”

    But if it is not officially recognised, will people take it seriously enough? Will they just dismiss people who suffer from it as “snowflakes” – too sensitive and too easily hurt by the hard realities of life. This is a major dilemma.

    I explore how climate anxiety relates to other types of clinical anxiety in my recent book, Understanding Climate Anxiety, recognising that there are adaptive and non-adaptive forms of anxiety.

    According to Steven Taylor, a clinical psychologist from the University of British Columbia, adaptive anxiety can “motivate climate activism, such as efforts to reduce one’s carbon footprint”. Maladaptive anxiety, however, may “take the form of anxious passivity”, he warned, where the person feels anxious but utterly helpless.

    Identifying different types of climate anxiety, understanding their precursors and how they interact with personality is a major psychological challenge. Identifying ways of alleviating climate anxiety and making it more adaptive, and focused on possible climate mitigation, is a major societal challenge.

    But there’s another important issue. Some global leaders, including Donald Trump, don’t believe in human-induced climate change, claiming it’s “one of the great scams”. He seems to view climate anxiety as an overblown reaction to propaganda pumped out by a biased media.

    This can make the experience much worse for those who feel anxious but then having their feelings dismissed.

    Some psychologists argue that climate anxiety can be a form of pre-traumatic stress disorder. This hypothesis arose from observations of climate scientists and their growing feelings of anger, distress, helplessness and depression as the climate situation has worsened.

    In 2015, researchers devised a new clinical measure to assess pre-traumatic stress reactions using items found in the diagnostic and statistical manual for post-traumatic stress disorder, but now focused on the future rather than the past, asking about “repeated, disturbing dreams of a possible future stressful experience”, for example.

    They tested Danish soldiers before their deployment in Afghanistan and found that “involuntary intrusive images and thoughts of possible future events … were experienced at the same level as post-traumatic stress reactions to past events before and during deployment”.

    They also found that soldiers who experienced higher levels of pre-traumatic stress before deployment had an increased risk of post-traumatic stress disorder after their return from the war zone. Their hypervigilance primed their nervous system to react more strongly when anything untoward occurred.

    This would suggest that we need to take stress reactions to future anticipated events such as climate change very seriously.

    The crisis response

    But how important is climate anxiety in the context of these other threats? Researchers assessed the emotional state and mental health of people aged 18 to 29 years in five countries (China, Portugal, South Africa, the US and UK) focusing on three global issues: climate change, an environmental disaster (the Fukushima nuclear accident in Japan), and the wars in Ukraine and the Middle East.

    They found the strongest emotional engagement was with the ongoing wars, with climate change a close second, and the radiation leak third. The strongest emotional responses to the wars were concern, sadness, helplessness, disgust, outrage and anger. For climate change, the strongest responses were concern, sadness, helplessness, disappointment and anxiety.

    All three crises made young people feel concerned, sad, and very importantly helpless, but climate change has this burning level of anxiety added into the bubbling mix.

    It seems that climate anxiety still has this undiminished power regardless of all the other awful things that are currently happening in the world, and I suspect the stigma of being dismissed as “snowflakes” makes this particular fear response all the more unbearable.

    Don’t have time to read about climate change as much as you’d like?_

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 45,000+ readers who’ve subscribed so far.

    Geoff Beattie has received funding from the British Academy and the AHRC to investigate psychological barriers to climate change mitigation and the effects of climate change on emotional responses.

    – ref. Could climate anxiety be a form of pre-traumatic stress disorder? A psychologist explains the research – https://theconversation.com/could-climate-anxiety-be-a-form-of-pre-traumatic-stress-disorder-a-psychologist-explains-the-research-260849

    MIL OSI Analysis –

  • MIL-OSI United Kingdom: Manchester Guest City programme announced for iconic Barcelona La Mercè 2025 festival

    Source: City of Manchester

    The programme has been announced for Manchester’s role as Guest City at this year’s iconic La Mercè festival in Barcelona – which each year attracts hundreds of thousands of visitors into the city for a 6-day cultural festival that sets the very highest of bars for festivals everywhere, showcasing the very best of traditional Catalan culture, outdoor arts, and music.

    Manchester was chosen last year by its Catalan counterparts to be the first-ever English guest city at this year’s event which takes place from 23 – 28 September.

    A Memorandum of Understanding signed between Manchester and Barcelona last year, noted that the two cities share both a very similar industrial past with histories that are linked to workers’ movements, as well as a present and future with great cultural wealth linked to the creative industries. 

    The Memorandum kicked off a cultural collaboration between the two cities, providing a working framework for artists, organisations, and other partners, focusing initially on music and street arts events for this year’s La Mercè festival.

    Since then the two cities have been working closely to put together a spectacular programme of Mancunian grown talent in outdoor arts and music for audiences in Barcelona to enjoy.

    Councillor Garry Bridges, Deputy Leader, Manchester City Council, said:  “Guest City status for Manchester at this year’s La Mercè festival is a huge honour for us and we’re enormously grateful to our partners, colleagues and friends in Barcelona for the opportunity to collaborate and play a part in their iconic festival.

    “Culture and diversity are big deals for us in Manchester and play a vital part in helping strengthen and shape our communities, pride and prosperity. Thanks to our wonderfully diverse artists, venues, festivals, and creative workforce, culture has had a transformative effect on our city.

    “The Manchester programme for La Mercè showcases the very best of our fantastically diverse cultural scene and our hugely talented artists and creators.

    “We hope it gives a flavour of the vibrant and thriving cultural scene we have here in Manchester and look forward to further strengthening our ties with the great city of Barcelona and welcoming new visitors and audiences to our city off the back of this.”

    The resulting programme is a celebration of fantastic outdoor work created by Manchester artists and organisations. 

    Highlights in the special cultural exchange include two unique new commissions from Manchester-based creators working with Barcelona-based performers, alongside new work created to celebrate Manchester and its people at La Mercè.

    The programme for Manchester as Guest City has been led by XTRAX and Without Walls. It showcases the diverse cultural communities of Manchester and the rich diversity of the UK outdoor arts scene – including parades, dance, music, poetry, fire and installations.

    Maggie Clarke, Director at XTRAX, said: “I’m delighted that Manchester will be Guest City at La Mercè 2025, which is the result of many years of collaboration between XTRAX and colleagues in Barcelona City Council and the Catalan arts scene. La Mercè is recognised as one of the greatest festivals of outdoor arts in the world, and it is an honour to present some of the fantastic work from Manchester at this prestigious event.

    “XTRAX firmly believes in the importance of outdoor festivals, and their valuable role in bringing people and communities together. Our programme at La Mercè celebrates the diversity and quality of work from our region and we hope will inspire other global cities to seek collaborations with Manchester and the great artists from our city.

    “I’m thrilled to have secured a great opportunity for UK artists in Barcelona and we look forward to continuing this exchange by hosting Barcelona artists in Manchester in 2026, and ongoing collaboration in years to come.”

    Manchester at La Mercè has been produced by XTRAX, and co-curated by Without Walls.

    Ralph Kennedy, Chief Executive at Without Walls, said: “We’re honoured to have collaborated with XTRAX as a strategic partner for Mercè Arts de Carrer (MAC), the La Mercè outdoor programme.  Without Walls has been proudly based in Manchester since its founding, and we’re absolutely thrilled to be part of this exciting city to city partnership.

    “Manchester is a vibrant hub for some of the best outdoor art being created in the UK today.  The programme of shows curated by XTRAX and Without Walls for Barcelona, in partnership with the artistic director of MAC, stands as a testament to the city’s incredible creative energy.”

    The Manchester at La Mercè programme features several major collaboration projects between Manchester and Barcelona artists, as well as new work created especially for this unique event.

    Here are some of the highlights:

    Bee for Barcelona

    Carnival arts specialists Global Grooves (Manchester) team up with renowned Catalan artists Pau Reig and Dolors Sans (Barcelona) to create Bee for Barcelona – a striking new collaboration to create two Giant Bees, celebrating shared industrial heritage, cultural pride, and artistic exchange. These Giants will perform in front of thousands of people as part of La Mercè world famous Parades of Giants and Beasts.

    Queen Bee Gigante, wears a costume reflecting Greater Manchester’s communities and cotton legacy. She transforms into a maypole, surrounded by 30 community dancers and musicians in a fusion of Morris and Classical Indian dance—re-imagining May Day and Carnival traditions.

    Alongside her, Worker Bee, a 4-metre kinetic sculpture, shimmers with hand-painted silks encased in fibreglass, evoking stained glass. Copper legs and cog motifs nod to the textile mills and industrial histories of Manchester and Barcelona and the birth of the Industrial Revolution.

    Blending Mancunian, Catalan, Pan-African, and South Asian influences, the project features 30 diverse performers from groups including Saddleworth Women’s Morris and Clog, and The Indian Association Oldham’s Dancing Diyas.

    Leon Patel, CEO, Carnival arts organisation Global Grooves, said: “Queen Bee and Worker Bee tell a powerful story of how they earned their stripes.

    “Queen Bee represents the evolution of that labour into opportunity, progress, culture, and celebration.  She is not born of royal blood, but is Queen for a day, like the Cotton Queens of Greater Manchester’s mill towns, the Carnival Queens of the Afro-Brazilian tradition, and the flower-crowned May Queen.  Work Bee honours the sweat and toil of workers wo build Manchester’s global industrial might.

    “Both bees will be animated in parades and performances at La Mercè accompanied by an original musical score blending Mancunian, Catalan, Pan-African, and South Asian sounds.”

    Both bees will be brought to life in parades and performances with an original multicultural musical score.

    Global Grooves producers visited Barcelona in March 2025, with Pau Reig and Dolors Sans joining a Manchester residency from 21–27 July 2025.

    Bee for Barcelona is commissioned by XTRAX for MCRxLaMerce2025. Supported by Manchester City Council, Arts Council England and XTRAX. Funded by Greater Manchester Combined Authority (GMCA), GM Arts, Oldham Council, and Tameside Metropolitan Borough Council.

    Following its premiere at La Mercè 2025, Queen Bee Gigante and Worker Bee will return for Manchester Day in July 2026.
                                                                                                       

    The Ultimate Player’s Handbook

    Manchester’s leading contemporary dance company Company Chameleon has been commissioned to create a new dance performance, The Ultimate Player’s Handbook, for La Mercè with Barcelona dance duo Clémentine & Lisard

    In the heart of a town’s square, a living handbook unfolds — one written not on paper, but in movement, strategy, and play.

    The Ultimate Player’s Handbook is a vibrant street performance that explores the games we play every day – where rules are made and broken, roles shift between winner and loser, and cooperation is as vital as competition.

    Co-directed by Company Chameleon (UK) and Clémentine & Lisard (CAT), the piece transforms public space into a playground where teams form, alliances shift, and every move asks us to reflect on the parts we play.

    With music, dance, and celebration, this handbook in motion invites us to question: how do we navigate rules – and how do we bring a sense of playfulness in our everyday lives?

    Barcelona-based Clémentine & Lisard have spent the last two weeks in Manchester (14-25 July) to create this new choreographed performance with two of Company Chameleon’s dancers and Artistic Director Kevin Turner, MBE, at Company Chameleon’s studios in Gorton.

    Kevin Turner, MBE, Artistic Director of Company Chameleon said: “International collaboration has always been at the heart of Chameleon’s work, and we’re delighted to be working with Clémentine & Lisard. The commission allows us to work with a really exciting and innovative Barcelona based dance company and create something new and interesting.  The collaboration gives us the chance to learn from each other, explore commonalities in our practice, and share and benefit from each other’s touring networks.”

    Blending the athletic and emotionally rich movement styles of both groups, the work will debut at La Mercè in Barcelona on 24, 27, and 28 September 2025 and return for Manchester Day 2026.

    The Ultimate Players’ Handbook is commissioned by XTRAX and the Institut de Cultura de Barcelona and funded by Arts Council England and Manchester City Council.

    Barcelona Bee Hive

    Another World Premiere, Barcelona Bee Hive will also be created especially for Manchester at La Mercè.

    Artizani is a UK-based arts company specialising in spectacular theatre performed in unconventional spaces. One of Europe’s most stylish and striking street theatre acts, their work is accessible and thought-provoking, featuring high production values and a surreal twist.

    The bee is the symbol of Manchester – historically representing its hard-working, unified community, and more recently serving as a powerful emblem of unity and resilience.

    Audiences are invited to wander among the honey-perfumed colony, tended by ethereal beekeepers, and peer into surreal miniature worlds of ‘working’ wonder.  In a specially commissioned new bee hive, created to celebrate Manchester at La Mercè, visitors can see Mancunian bees enjoying scenes from traditional Catalan festivities.

    Barcelona Bee Hive is commissioned by XTRAX and funded by Arts Council England and Manchester City Council. 

    OUR CITY SPEAKS – poetry films from Manchester                                                                                    

    Another unique project developed especially for Manchester’s programme at La Mercè that celebrates Manchester’s wealth of poets and spoken word artists working in a wide range of diverse styles and languages.

    A captivating curated selection of short films featuring some of the city’s current leading poetry performers will take viewers on a journey through poetry that talks about identity, unity, resistance, and resilience.

    Jo Flynn, Director of External Affairs, Manchester City of Literature said: “Barcelona and Manchester already share cultural ties as sister UNESCO Cities of Literature, and in many ways their dynamic cultural identity and literary boldness align too. We’re thrilled at Manchester City of Literature to be part of La Mercè programme celebrating this partnership with Manchester poetry films on stage for the festival in September. We can’t wait to see where the partnership between the cities will take us next, across all artforms.”

    Manchester UNESCO City of Literature has curated this collection to share with Catalan audiences in Manchester’s sister UNESCO City of Literature during La Mercè.

    The project builds on Manchester City of Literature’s strong relationship with Barcelona City of Literature which has seen a number of artistic exchanges. The partnership between the two UNESCO Cities of Literature has seen Manchester novelists, poets and performers featured at Barcelona Literary festivals throughout 2025, in celebration of La Mercè. Barcelona poets will be commissioned to help translate the work of the Manchester poets into Catalan, so the works can be understood by local audiences and a number of Catalan poets will be invited to share work about Barcelona in Manchester in 2026.

    The project has been commissioned by XTRAX, funded by Manchester City Council and Arts Council England, and is delivered in partnership with Manchester City of Literature and Barcelona City of Literature.

    Fire Garden by Walk The Plank

    Walk the Plank, one of the UK’s leading outdoor arts specialists, will bring their acclaimed Fire Garden installation to Trinitat Park for La Mercè 2025. Known for creating ambitious public celebrations and immersive outdoor spectacles for over thirty years, the company will transform the park into a glowing landscape of metal, fire and music created by local musicians in Barcelona.

    Liz Pugh, Creative Producer for the Fire Garden, said: “We’re delighted to be bringing some Mancunian magic to La Mercè, and particularly excited to see how our installation of kinetic fire sculptures animate Parc de la Trinitat in a new and different way.  To be invited to bring UK work to the heart of the Catalan cultural festival is an honour indeed.”

    Walk the Plank will be working with students recruited from local colleges, offering the opportunity for young people from Barcelona and elsewhere to work alongside the company’s professional fire technicians.

    Liz added: “Investing in the talent of the next generation is important to us, and we seek to provide opportunities for young people to gain experience. The chance to work alongside international artists is valuable for young people: they can gain new skills and expand their ideas of what is possible through culture. We look forward to welcoming some of the Catalan artists, the musicians and the students to Manchester next year too – let’s find a way to repay the warm invitation which the city of Barcelona and MAC festival are offering to us.”

     

    Other dynamic performances from Manchester outdoor arts companies featuring at La Mercè festival in Barcelona in September 2025 will include: Company Chameleon – Umbra; DamaeDance – IRMÃ-sister; Ghetto Fabulous – Family Catwalk Extravaganza; Joseph Toonga, Just Us Dance Theatre – Born to Protest; Mark Anderson in collaboration with Liam Walsh – Warning Notes; Motionhouse – WILD; Mr Wilson’s Second Liners; Stopgap Dance Company – RO-TES រទេះ

    Music programme

    The Manchester Guest City music programme at La Mercè is presented by Manchester Music City, led by Brighter Sound.

    Kate Lowes, Director, Brighter Sound (sector lead Manchester Music City) said: “We’re thrilled to announce such an exciting group of artists representing Manchester at La Mercè 2025 – Children of Zeus, Chloe Slater, Clara la San, Porij, Ríoghnach Connolly and Honeyfeet, and Space Afrika – a powerful showcase of the city’s rich and genre-defying music scene. We’re also proud to be supporting a brand-new musical collaboration between Manchester’s Werkha and Catalan artist Queralt Lahoz, which will premiere at the festival. As a member of the Music Cities Network, Manchester is proudly international in its musical outlook. This is a fantastic opportunity to deepen creative exchange between Manchester and Barcelona, and to celebrate our shared love of music on an international stage.”

    International Speakers Panel Discussions and Professional Networking Events                               

    Alongside the outdoor performance programme at La Mercè there will also be a number of panel discussions and networking events exploring the importance of outdoor festivals in giving visibility to cultural communities and bringing people together.

    These discussions will include international speakers and policy makers and will be attended by festival organisers, local authorities, artists and producers from across Europe. These events are a prelude to Mondiacult, the world’s biggest cultural policy conference for the member states of UNESCO taking place in Barcelona from 29 September – 1 October 2025.

    This programme has been organised by XTRAX, Without Walls, La Mercè, ICEC Catalan Arts and Unlimited, with support from British Council and the British Embassy in Spain.

    The Manchester guest city programme at La Mercè  is being supported by Arts Council England through a grant to producers XTRAX.

    Jen Cleary, Director North West, Arts Council England said: “We’re proud to be supporting Manchester’s Guest City programme at La Mercè in Barcelona this September. Not only will it create opportunities for talented Mancunian artists to showcase their work on an international stage, but it is a shining example of how arts and culture can support greater connections and dialogue between cities and communities across the world. La Mercè is a major event in the European outdoor arts calendar and we can’t wait to see Manchester take pride of place as the Festival’s Guest City.” 

    Find out full details about the Manchester programme at La Mercè  

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: UN forum affirms stronger commitment to achieve sustainable development

    Source: United Nations 2

    At the end of the conference, Member States adopted a Ministerial Declaration by a vote of 154-2-2, with the United States and Israel voting against the document and Paraguay and Iran abstaining.  

    “We strongly reaffirm our commitment to effectively implement the 2030 Agenda [which]… remains our overarching roadmap for achieving sustainable development and overcoming the multiple crises we face,” the declaration said.  

    15 years of HLPF

    The HLPF has happened on an annual basis since 2010 and is convened by the Economic and Social Council (ECOSOC) to discuss the progress, or lack thereof, on the 17 Sustainable Development Goals (SDGs), which were adopted in 2015 as part of the 2030 Agenda and aspire to create a more equitable and inclusive world.

    This year, the forum focused on five of these goals: good health and wellbeing, gender equality, decent work and economic growth, life below water and partnerships.

    Negotiations regarding the ministerial document were led by representatives from Czechia and St. Vincent and the Grenadines, who highlighted the significance of the proceedings.  

    “This year’s deliberations have held particular significance. Ten years after the adoption of the 2030 Agenda, a range of interlinked and persistent challenges continues to jeopardise the full realisation of the SDGs,” said Jakub Kulhánek, permanent representative of Czechia and one of the two lead facilitators of the declaration.  

    The clock is ticking

    In the ministerial declaration, Member States said that time is running out to achieve the SDGs, which remain severely off track.  

    According to the Secretary-General’s report on the Goals, which was released on the first day of the HLPF, only 18 per cent of the SDGs are on track to be achieved by 2030, with over half making progress that is too slow.  

    While the ministerial declaration addressed each of the five SDGs in the spotlight at the forum, Member States particularly emphasised the role of poverty in impeding sustainable development and the worsening climate crisis that is threatening all aspects of the development agenda.  

    The declaration called both of these issues some of the “greatest global challenges” that the world faces.

    In keeping with SDG 16, which underlines the role that institutions like governments must play in promoting peace, Member States also affirmed that strong governance and partnership is essential to realising peace as a prerequisite for development.

    “We recognise that sustainable development cannot be realised without peace and security, and peace and security will be at risk without sustainable development,” it stated.

    Plan of Action

    In the midst of challenges to multilateralism, Member States said that the declaration was an affirmation of the UN’s commitment to multilateralism, which is celebrating its 80th anniversary this year.

    “At a time when serious doubts about the future of multilateralism persist, your steadfast commitment has been both reassuring and inspiring,” said Mr. Kulhánek.

    Member States, in the declaration, affirmed a commitment to urgently working towards the SDGs in order to achieve a better world.  

    “We will act with urgency to realise its vision as a plan of action for people, planet, prosperity, peace and partnership, leaving no one behind.” 

    MIL OSI United Nations News –

  • MIL-OSI: Mark Cuban Foundation Launches 2025 AI Bootcamps

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, July 24, 2025 (GLOBE NEWSWIRE) — The Mark Cuban Foundation today announced significant updates and a nationwide expansion of its free AI Bootcamps, designed to bring advanced artificial intelligence education to underserved high school students and educators. The program will operate in 29 cities across the U.S. this fall, reinforcing the foundation’s commitment to closing the digital divide and nurturing future innovators.

    Applications are now open for high school students (grades 9–12) and educators interested in the Teacher Bootcamp, a year-long, free professional development initiative. The AI Bootcamps are open to all high school students, and prioritize accepting girls, students of color, first-generation college-goers, and students from low-income backgrounds. Applications will be accepted through September 30, 2025.

    “As AI becomes an integral part of daily life, it’s essential that all young people have access to this powerful technology,” said Mark Cuban, Founder of the Mark Cuban Foundation. “Our goal is to ensure that every interested student, regardless of background or resources, can explore AI and its limitless possibilities.”

    The updated curriculum includes hands-on experience with generative AI tools, modules on ethical AI, and specialized tracks covering healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, and future readiness. Participants will complete capstone projects under mentorship from industry professionals. Additionally, each location will now have a dedicated Teacher Fellow to further enhance educational outcomes and community involvement. Applications for the Teacher Fellowship program open in January.

    All student bootcamps will take place over three Saturdays (November 1, 8, and 15, 2025, from 11 a.m. to 4 p.m.), with meals, transportation assistance, and technology provided at no cost.

    Charlotte Dungan, Chief Learning Officer at the Mark Cuban Foundation, emphasized, “By equipping underserved students and educators with practical AI skills and ethical insights, we’re actively working toward equity in education and preparing young people for the future.”

    Confirmed 2025 Bootcamp Locations:

    • Arizona: Tempe
    • California: Mountain View
    • Colorado: Denver
    • Connecticut: Hartford
    • Florida: Melbourne, Miami
    • Georgia: Atlanta
    • Illinois: Chicago
    • Indiana: Fort Wayne, Indianapolis
    • Iowa: Johnston (Des Moines area)
    • Kansas: Hutchinson
    • Michigan: Pontiac
    • Minnesota: Minneapolis
    • Missouri: St. Louis
    • Nebraska: Omaha
    • New York: New York City
    • North Carolina: Charlotte, Raleigh
    • Ohio: Cleveland
    • Pennsylvania: Philadelphia, Pittsburgh
    • Rhode Island: Providence
    • Texas: Houston, Richardson, San Antonio, Plano
    • Utah: Salt Lake City
    • Virginia: Richmond

    Key local partnerships include Girls Inc. in San Antonio, Miami Dade College in Florida, Electric Works in Fort Wayne, Indiana, and Perficient in St. Louis, Minneapolis, and Plano, TX.

    Since 2019, the Mark Cuban Foundation AI Bootcamp has successfully provided AI education to thousands of students in over 30 cities nationwide. The Teacher Fellowship, which began in March 2025 and runs through May 2026, supports 30 selected educators with stipends, mentorship, and national opportunities to showcase their achievements. Teacher Bootcamps have participants in 48 states and impact over 100,000 students.

    Interested students and educators can apply for bootcamps now at markcubanai.org. 

    Companies interested in hosting a future bootcamp can complete our interest form.

    Watch Mark Cuban’s message about Mark Cuban Foundation’s AI bootcamps and access the full media kit here.

    This bootcamp is facilitated with support from Mark Cuban Foundation AI Bootcamp Program’s media partner, Notified, a globally trusted technology partner for investor relations, public relations and marketing professionals.

    About Mark Cuban Foundation’s AI Bootcamp Initiative
    The Mark Cuban Foundation is a 501(c)(3) private non-profit led by entrepreneur and investor Mark Cuban. The AI Bootcamps Program at MCF seeks to inspire young people with emerging technology so that they can create more equitable futures for themselves and their communities. Over 3 consecutive Saturdays, underserved 9th – 12th grade students learn what AI is and isn’t, where they already interact with AI in their own lives, the ethical implications of AI systems, and much more. Learn more about the no-cost AI Bootcamp program at markcubanai.org.

    Media Contact:
    bishop.wash@markcubanai.com

    The MIL Network –

  • MIL-OSI USA: Attorney General Bonta Challenges Trump Administration’s Withholding of AmeriCorps Funds

    Source: US State of California

    OAKLAND – California Attorney General Rob Bonta today, as part of a coalition of 23 attorneys general and two states, expanded its ongoing legal challenge of the Trump Administration’s attempt to gut AmeriCorps by adding the White House Office of Management and Budget (OMB) as a defendant for withholding tens of millions of dollars in funding for critical service programs. In June, Attorney General Bonta and the coalition secured a court order that reinstated hundreds of AmeriCorps programs that were unlawfully cancelled and barred AmeriCorps from making similar cuts without formal rulemaking. Despite this order, OMB is withholding vast sums intended for outstanding service programs, threatening their survival and the wellbeing of those who depend on their services. Because of the Trump Administration’s withholding of these critical resources, Attorney General Bonta and the coalition today filed an amended lawsuit that adds OMB as a defendant and brings new legal claims against the agency. 

    “AmeriCorps represents the best of who we are, what we can be, as a nation,” said Attorney General Bonta. “Last month, I secured a court order stopping the illegal dismantling of AmeriCorps – ensuring these selfless servicemembers can continue to serve our communities while litigation continues. But now, President Trump is trying a different, yet similarly, illegal tactic to withhold funding. We’re going back to court to block this latest maneuver – and we’ll keep fighting to ensure this invaluable program continues.”   

    AmeriCorps, an independent federal agency that engages Americans in meaningful community-based service, provides opportunities for more than 200,000 Americans to serve their communities every year. AmeriCorps supports national and state community service programs by funding and placing volunteers in local and national organizations that address critical community needs. Organizations rely on support from AmeriCorps to recruit, place, and supervise AmeriCorps members nationwide. 

    In 2024, more than 6,150 California members served at least 1,200 locations, including schools, food banks, homeless shelters, health clinics, youth centers, veterans’ facilities, and other nonprofit and faith-based organizations. AmeriCorps invested more than $133 million in federal funding to California that same year to support cost-effective community solutions, working with local partners on the ground to help communities tackle their toughest challenges. This includes programs like:

    • Prevent Child Abuse California, which hosts 65 AmeriCorps members who provide academic assistance, life skills, and financial literacy to hundreds of foster youths across 15 counties. 
    • Partnership for Veterans and People Experiencing Homeless, which hosts 25 AmeriCorps members that provide housing services, job placement, and case management to veterans and homeless individuals in Santa Barbara County.
    • Reading Partners California, which hosts 80 AmeriCorps members who recruit and manage approximately 1400 volunteers to provide one-on-one literacy tutoring to students at 58 low-income elementary schools.

    In the amended complaint, Attorney General Bonta and the coalition allege that OMB has unlawfully withheld from plaintiff states well over $38 million in support intended for specific AmeriCorps programs, across multiple funding streams. For example, OMB appears to have withheld tens of millions of dollars intended for AmeriCorps Senior Companion Programs and Foster Grandparent Programs in plaintiff states, programs that pair low-income seniors with children in need of mentorship and support or with other seniors in need of companionship and care. The Administration has also withheld approximately $5 million intended for plaintiff state service commissions, which was needed to provide training and technical assistance to service members across the country. And while AmeriCorps decided to fund numerous programs in plaintiff states with over $33 million in highly competitive grants for the next service year, OMB is preparing to withhold these funds from distribution as well.    

    The coalition establishes that the Trump Administration has acted unlawfully in its withholding of AmeriCorps funds, violating both the Administrative Procedure Act and the separation of powers under the U.S. Constitution. Congress created AmeriCorps and appropriated funding to support public service, and neither OMB nor AmeriCorps hold authority to defy Congress by refusing to distribute funds to worthy service programs.   

    In filing the amended complaint, Attorney General Bonta and the attorneys general of Maryland, Delaware, and Colorado lead the attorneys general of Arizona, Connecticut, Hawaii, Illinois, Maine, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, New York, North Carolina, Oregon, Rhode Island, Vermont, Washington, Wisconsin, the District of Columbia, as well as the states of Kentucky and Pennsylvania. 

    A copy of the amended complaint is available here. 

    MIL OSI USA News –

  • MIL-OSI: LECTRA: First half 2025: stable revenues and limited decline in EBITDA in a context of increased volatility in Q2

    Source: GlobeNewswire (MIL-OSI)

    First half 2025: stable revenues and limited decline in EBITDA in a context of increased volatility in Q2

    • Revenues: 261.3 million euros (stable)*
    • EBITDA before non-recurring items: 40.4 million euros (-4%)*
    • Annual objectives are no more relevant, in the absence of visibility

    (*) At actual exchange rates

      April 1 – June 30 January 1 – June 30
      2025 2024 Variation 2025/2024   2025 2024 Variation 2025/2024
    (in millions of euros)     Actual exchange rates Like-for-like(1)       Actual exchange rates Like-for-like(1)
    Revenues 126.8 132.7 -4% -2%   261.3 262.3 0% -1%
    ARR (2)(3) – – – –   90.9 88.9 +2% +6%
    EBITDA before non-recurring items (3) 19.2 21.2 -9% -3%   40.4 42.2 -4% -4%
    EBITDA margin before non-recurring items 15.2% 15.9% -0.7 point -0.2 point   15.4% 16.1% -0.7 point -0.7 point
    Net income 5.3 4.4 20% –   11.1 11.1 0% –
    Consolidated Shareholders’ Equity (2) – – – –   343.8 374.4 – –
    Net cash (+) / Net debt (-) (2) – – – –   -34.1 -20.6 – –

    (1) At constant exchange rates and comparable scope
    (2) As of June 30, 2025 and December 31, 2024
    (3) The definition of performance indicators is included in the Financial report as of 30 June 2025

    Paris, July 24, 2025. Today, Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the first half of 2025, which have been subject to a limited review by the Statutory Auditors.

    1. A PARADIGM SHIFT AT THE GLOBAL LEVEL

    The deterioration in the global economic situation since early March continued throughout the second quarter, extending to all geographical areas and all sectors of activity. The US tariff announcements on April 2 came as a shock that increased the uncertainty weighing on the business climate, particularly for the Group’s customers, who are highly exposed to international trade.

    While the direct impact of these measures is limited for Lectra, the indirect impacts, linked to the reactions of the customers concerned, together with the lack of visibility, have led to a pause in their investment decisions. The Group’s customers — brands and subcontractors alike — must adapt to this new economic situation, whether in terms of pricing policy, production, investment or future strategy, and are waiting for negotiations to be concluded before choosing their options.

    The 90-day suspension of reciprocal tariffs, announced on April 9 and due to end on July 9 was followed by further announcements. The frequent changes in the decisions of the US administration and the negotiations still underway have contributed to persistent uncertainty.

    The direct impacts of tariffs remain limited, and are under control

    European and Chinese exports to the United States account for less than 10% of Lectra’s sales. Starting in April, Lectra has taken several measures to deal with the new commercial situation: the Group has reflected the full impact of customs tariffs on price lists in the United States for equipment, consumables and parts and maintenance contracts. It also rerouted some shipments to Mexico to avoid customs formalities and removed several products from the Chinese and American catalogs.

    Indirect impacts are characterized by high customer wait-and-see position

    Lectra’s three strategic markets are highly exposed to tariffs.

    Particularly in the fashion and automotive sectors, the United States’ dependence on imports is very strong. Whatever the outcome of the negotiations, the need to diversify sources of supply and their countries of origin seems clear and will require additional production capacities and relocations.

    In the Group’s three strategic markets, the turbulence of the last few months represents medium- and long-term development opportunities for Lectra, irrespective of the tariff rates ultimately decided, and will necessarily lead to structural changes in the industrial landscape and supply chains.

         2.   Q2 2025

    The slowdown that affected the Americas and Automotive from mid-March onwards spread to all geographies and sectors. Indeed, the successive announcements, then the shock of “Liberation Day” on April 2, have led to a strong wait-and-see attitude from customers. New systems orders were accordingly 27% lower in the second quarter.

    Q2 2025 revenues were down 4% on an actual basis and 2% on a like-for-like basis, reflecting the continued slowdown that began in mid-March.

    EBITDA before non-recurring items (€19.2 million) declined 3%, resulting in a recurring EBITDA margin before non-recurring items of 15.2%, down 0.7 percentage point on an actual basis (0.2 percentage point like-for-like).

    Considering the amortization of intangible assets (€5.7 million), income from operations before non-recurring items was down 6% on a like-to-like basis, to €8.9 million. Net income reached €5.3 million, up 20% on an actual basis, driven by a reduction in tax expense. 

         3.   FIRST HALF 2025

    To facilitate analysis of the Group’s results, the financial statements are compared to those published in 2024 that consolidated Launchmetrics as of January 23 (“actual”) and, for the analysis of variations, to the 2024 Proforma statements that consolidate Launchmetrics as of January 1, expressed at 2024 exchange rates (like-for-like”). Proforma revenues and EBITDA increased by €2.5 million and €0.3 million respectively compared to the reported financial statements.

    H1 2025 revenues amounted to €261.3 million, down 1%. This breaks down into €69.3 million in non-recurring revenues, down 7%, and €192.0 million in recurring revenues (73% of revenues), up 2%, including €43.6 million in revenues from SaaS subscription contracts (17% of revenues, +13%).

    The ARR at June 30, 2025 was €90.9 million, up 6% on a like-for-like basis (+2% on an actual basis) compared to the level at the end of 2024, confirming the relevance of Lectra’s strategy.

    In a context of declining revenues, the gross margin reached €190.0 million, up 1%, and the gross margin rate stood at 72.7%, up 1 point, thanks to the favorable sales mix and strengthened cost control.

    EBITDA before non-recurring items reached €40.4 million, down 4%, with an EBITDA margin before non-recurring items of 15.4%, down 0.6 point.

    Income from operations before non-recurring items amounted to €19.2 million, down 9%.

    Net income, following a tax expense of 3.6 million euros, was stable at 11.1 million euros.

    Free cash flow before non-recurring items remained high in the first half of 2025 at € 33.0 million, reflecting good management of the working capital requirement, which was negative by €41.6 million, benefiting from lower receivables and a further reduction in inventories.

    As of June 30, 2025, the Group’s balance sheet remained very strong: shareholders’ equity stood at €343.8 million and net debt at €34.1 million after disbursement of the second tranche of Launchmetrics’ share capital (€20.5 million), the acquisition of Glengo Turkey (€1.7 million), and dividend payments (€15.2 million). Net debt consisted in financial debt of €94.6 million and cash of €60.6 million, reflecting the continued deleveraging of the company.

         4.   OUTLOOK

    In the Annual Financial Report 2024 published February 12, 2025, Lectra reiterated its long-term vision, as well as the objectives of its 2023-2025 strategic roadmap. The Group then underlined, in a deteriorating environment, its resilient nature, the quality of its fundamentals, and the pursuit of its strategy with a focus on the development of its SaaS business.

    Following the series of announcements on tariffs, the 2025 outlook had not been updated when the first quarter 2025 results were published on April 24, 2025.

    At the end of the second quarter, there were still no signs of significant improvement that would point to an upturn in activity. The economic and political context remains uncertain and continues to lead to a strong wait-and-see attitude on the part of the Group’s customers. In this context, the annual objectives announced by the Group in February 2025 are no more relevant.

    The Company remains attentive to the evolution of the situation and relies on its solid fundamentals, notably its low net debt and high free cash flow generation, to pursue its strategy.

    The 2024 Annual Financial Report, as well as the Management Discussion and Analysis of Financial Conditions and Results of Operations and the financial statements for H1 2025 are available on lectra.com. Q3 and the first nine months of 2025 earnings will be published on October 29, 2025 after market. 

    About Lectra

    At the forefront of innovation since its founding in 1973, Lectra provides industrial intelligence technology solutions—combining software in SaaS mode, cutting equipment, data, and associated services—to players in the fashion, automotive and furniture industries. With boldness and passion, Lectra accelerates the transformation and success of its customers in a world in perpetual motion thanks to the key technologies of Industry 4.0: AI, big data, cloud and the internet of things. 

    The Group is present in more than one hundred countries. It operates three production sites for its cutting equipment, located in France, China and the United States. Lectra’s 3,000 employees are driven by three core values: being open-minded thinkers, trusted partners and passionate innovators. They all share the same concern for social responsibility, which is one of the pillars of Lectra’s strategy to ensure its sustainable growth and that of its customers.

    Lectra reported revenues of €527 million in 2024, including €77 million coming from its SaaS offerings. The company is listed on Euronext, and is included in the CAC All Shares, CAC Technology, EN Tech Leaders and ENT PEA-PME 150 indices.

    For more information, visit ww.lectra.com. 

    Lectra – World Headquarters et siège social: 16–18, rue Chalgrin • 75016 Paris • France
    Tel. +33 (0)1 53 64 42 00 – lectra.com
    A French Société Anonyme with capital of € 37,966,274. RCS Paris B 300 702 305

    Attachment

    The MIL Network –

  • MIL-OSI Security: Illegal Alien Caught Dragging Trafficked Woman Back to Captivity Arrested After His Removal Proceedings Were Terminated by Biden Administration

    Source: US Department of Homeland Security

    ICE immediately lodged an arrest detainer to ensure this criminal illegal alien will never be released into American communities

    WASHINGTON — On July 15, 2025, Immigration and Customs Enforcement (ICE) issued a detainer for Jose Armando Carcamo-Perdomo, an illegal alien from Honduras, charged by local police with kidnapping and assault. This criminal illegal alien is suspected of sex trafficking and assaulting a Chinese woman.

    According to local reports, Carcamo “kept the sex-trafficking victim hostage for five days without food or water — while he beat her and sexually assaulted her.” A nearby Ring doorbell camera recorded Carcamo picking up the victim on the street and abducting her. Local reports say he is also accused of tying her up, punching, and raping her. 

    “This accused kidnapper and suspected sex trafficker was just one of the countless criminal illegal aliens who inexplicably had their removal proceedings terminated by the Biden Administration and were allowed to remain in the country,” said Assistant Secretary Tricia McLaughlin. “Thanks to the leadership of President Trump and Secretary Noem, criminal illegal aliens are being locked up and will no longer be allowed to terrorize American communities. Our message is clear: criminals are not welcome in the United States.” 

    Carcamo illegally entered the United States at the southern border on November 24, 2020. Under the Biden Administration, ICE filed a motion with an immigration judge to have his removal proceedings terminated.  

    On September 8, 2023, a judge granted the Biden Administration’s motion.  

    Following his arrest for kidnapping and assault, ICE, in accordance with the Laken Riley Act, issued a detainer for his arrest to ensure this criminal illegal alien will never be released into American communities.

    ###

    MIL Security OSI –

  • MIL-OSI USA: Vasquez Announces Major Milestone: $4.3 Million Returned to Southern New Mexicans through Casework

    Source: US Representative Gabe Vasquez’s (NM-02)

    WASHINGTON, D.C. – On July 24, 2025, U.S. Representative Gabe Vasquez (NM-02) announced that his office has successfully returned over $4.3 million to constituents in New Mexico’s Second District in 2025. 

    “I’m excited to announce that my office has put over $4 million back in constituents’ pockets,” said Vasquez. “New Mexicans deserve an accessible, accountable government that works for them without red tape or bureaucracy. These success stories are a testament to my office’s commitment to ensuring hard working folks get every last dollar they deserve.”

    Rep. Vasquez’s casework team works directly with constituents to resolve issues with federal agencies including the IRS, Social Security Administration, Department of Veterans Affairs, and more.

    “With the help of Congressman Vasquez, our case was resolved in just two weeks — with back pay of $4,555.00 and monthly benefits of $421.00. We are so grateful for the fast, successful outcome thanks to Congressman Vasquez. After a tough year of loss and disappointment, their help turned everything around,” said Dorothy and Stefanie of Socorro.

    “Congressman Vasquez was a great help in helping me recover $9,512 in delayed income tax refunds from the past two years, which had been held up after my husband passed away,” said Kate of Las Cruces.

    “Before my VA benefits were approved, I was barely getting by, unable to afford basics like food. With the $78,816 I received in benefits and back pay, I paid off high‑interest debt and now can live with dignity. I’m deeply grateful to Congressman Vasquez and his office for helping make this possible,” said Jerome of Belen.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Gov. Kemp: Pilgrim’s to Build New Prepared Foods Facility, Creating 630 New Jobs in Walker County

    Source: US State of Georgia

    ATLANTA – Governor Brian P. Kemp today announced that Pilgrim’s, one of the world’s leading food companies, will invest $400 million to expand its footprint in Georgia. The company will build a new, multi-phase prepared foods facility in LaFayette, Walker County, supporting more than 630 new jobs at full capacity.

    “Georgia’s No. 1 industry of agriculture continues to drive growth with companies like Pilgrim’s creating quality jobs in communities like LaFayette,” said Governor Brian Kemp. “As our state’s economy continues to advance, we are excited to see these continued innovations and the opportunities they will bring for hardworking Georgians.”

    Pilgrim’s is a leading global provider of high-quality food products. Across the State of Georgia, the company currently supports an estimated 7,500 jobs and operates seven food production facilities, in addition to supporting facilities like feed mills and hatcheries.

    “Expanding the Pilgrim’s footprint in Georgia highlights our ongoing commitment to the region and our company’s long-term growth strategy,” said Fabio Sandri, Pilgrim’s CEO. “This significant investment will allow further growth of our prepared foods business by expanding brands like Just Bare, Pilgrim’s, and Gold Kist, and supporting increasing demand in retail and foodservice channels. We are also proud of our role in creating jobs and being a strong community partner.”

    The new facility, located at the Walker County Business Park in LaFayette, will produce a variety of fully cooked chicken products to support the growth of its fast-growing prepared foods business. The project is expected to get underway in the fall of 2025, and hiring is expected to begin in 2027, aligning with the expected completion of the first phase of construction. To learn more about Pilgrim’s, including where interested individuals can apply for jobs, visit jobs.pilgrims.com.

    “We welcome Pilgrim’s to Walker County and LaFayette,” said LaFayette Mayor and Chairman of the Walker County Development Authority Andy Arnold. “Pilgrim’s has a wonderful history of positive community involvement, and the creation of up to 630 jobs for our area is a game changer for many families. We look forward to our partnership.”

    “This is a tremendous opportunity for Walker County to provide stable jobs and long-term security for residents who want to work where they live,” said Chairwoman and CEO Angie Teems, Walker County Government. “Not only is this a well-respected company with a strong track record, but it already has a presence in our community through its partnerships with local poultry growers. Expanding their operations here is a natural next step that will strengthen our local economy and reinforce our county’s commitment to supporting hardworking families.”

    Senior Regional Project Manager Lori Dowdy represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce team on this competitive project in partnership with the Walker County Development Authority and Georgia Quick Start.

    “We are excited that Pilgrim’s continues to grow its footprint and drive economic opportunities here in Georgia,” said GDEcD Commissioner Pat Wilson. “Agriculture has long been the backbone of our economy, laying the groundwork for today’s thriving food and beverage sector. Critical industries like cold storage and logistics build on that legacy, generating jobs and opportunities across the state. Congratulations to Walker County for helping bring these new investments and possibilities to LaFayette.”

    About Pilgrim’s

    Pilgrim’s employs over 61,000 people and operates protein processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, the Republic of Ireland, and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com.

    MIL OSI USA News –

  • MIL-OSI: BexBack Launches 100x Leverage, Double Deposit Bonus, and No KYC – Empowering Everyday Traders to Achieve Financial Freedom

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 24, 2025 (GLOBE NEWSWIRE) — As the cryptocurrency market continues its upward trajectory, BexBack Exchange is setting a new standard in accessible trading with an unprecedented offer designed to empower both new and experienced traders. In the wake of Bitcoin’s remarkable surge, BexBack introduces an enticing promotional package featuring 100x leverage, a 100% deposit bonus, and the best part – NO KYC required.

    Breaking Down Barriers for Ordinary People

    BexBack has always been committed to providing opportunities that allow anyone, regardless of experience, to access the world of cryptocurrency trading. Now, with the introduction of 100x leverage, traders can control significantly larger positions while using minimal capital, enhancing their potential profits without needing substantial upfront investment. This high leverage option makes it possible for traders to capitalize on even the smallest price fluctuations, offering greater returns in a volatile market.

    Moreover, BexBack’s 100% deposit bonus gives users the opportunity to double their initial deposits, allowing them to increase their trading capital without having to deposit additional funds. Whether you are a newcomer or a seasoned investor, this bonus is designed to maximize trading potential and enhance the ability to leverage market volatility.

    NO KYC – Fast, Secure, and Anonymous Trading

    In a significant move to improve user experience, BexBack is also eliminating the KYC (Know Your Customer) requirements, ensuring fast, secure, and anonymous trading. This means that new users can register and begin trading within minutes, without the need to undergo lengthy verification processes. This commitment to privacy ensures that BexBack users can focus entirely on maximizing their trading potential without additional administrative hurdles.

    The Power of Leverage and Bonus to Achieve Financial Freedom

    For many people, achieving financial freedom may seem like an impossible dream, but with BexBack’s tools, it’s now within reach. With the added advantage of up to 100x leverage and double deposit bonuses, ordinary traders can amplify their earnings and increase their potential returns with little initial capital. This makes high-stakes crypto futures trading more accessible than ever before, allowing anyone to turn market volatility into wealth-building opportunities.

    Why Choose BexBack?

    1. 100x Leverage – Maximize your returns with up to 100x leverage on crypto futures.
    2. 100% Deposit Bonus – Double your trading capital immediately with every deposit.
    3. NO KYC – Trade anonymously without the need for extensive verification.
    4. Diverse Asset Support – Trade over 50 digital assets with ease.
    5. Instant Activation – Get started quickly without delays and start leveraging market movements.
    6. $50 Welcome Bonus: available to new users who meet the requirements.
    7. Comprehensive Customer Support – Our 24/7 multilingual support is always available to guide you.

    About BexBack?

    BexBack is a leading cryptocurrency derivatives platform offering up to 100x leverage on futures contracts for BTC, ETH, ADA, SOL, XRP, and over 50 other digital assets. Headquartered in Singapore, the platform also operates offices in Hong Kong, Japan, the United States, the United Kingdom, and Argentina. Like many top-tier exchanges, BexBack holds a U.S. MSB (Money Services Business) license and is trusted by more than 500,000 traders worldwide. The platform accepts users from the United States, Canada, and Europe, with zero deposit fees and 24/7 multilingual customer support, delivering a secure, efficient, and user-friendly trading experience.

    Take Control of Your Financial Future

    Whether you are looking to diversify your portfolio or dive deeper into crypto futures trading, BexBack is giving you the tools to take control of your financial future. The combination of 100x leverage, double deposit bonuses, and NO KYC opens up opportunities for everyone, regardless of their trading background.

    Sign Up Now and Start Trading on BexBack — No KYC. No Hassles. Just high-leverage trading opportunities to maximize your profits.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

    Disclaimer: This content is provided by BexBack. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f963b2d1-0380-42be-ac17-2b76312bd6e7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d4cf04a6-6926-489c-a3b1-dc71e66805b5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d6a167e5-8849-415e-a701-7c9096e04c43

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a978b0c8-8c1c-4dd9-a0bf-c5aea8479410

    The MIL Network –

  • MIL-OSI Submissions: What makes a person cool? Global study has some answers

    Source: The Conversation – Africa – By Todd Pezzuti, Associate Professor, Business School, Universidad Adolfo Ibáñez

    From Lagos to Cape Town, Santiago to Seoul, people want to be cool. “Cool” is a word we hear everywhere – in music, in fashion, on social media. We use it to describe certain types of people.

    But what exactly makes someone cool? Is it just about being popular or trendy? Or is there something deeper going on?

    In a recent study I conducted with other marketing professors, we set out to answer a simple but surprisingly unexplored question. What are the personality traits and values that make someone seem cool – and do they differ across cultures?

    We asked nearly 6,000 people from 12 countries to think of someone they personally knew who was “cool”, “not cool”, “good”, or “not good”. Then we asked them to describe that person’s traits and values using validated psychological measures. We used this data to examine how coolness differs from general likeability or morality.



    Read more:
    What makes a person seem wise? Global study finds that cultures do differ – but not as much as you’d think

    The countries ranged from Australia to Turkey, the US to Germany, India to China, Nigeria to South Africa.

    Our data showed that coolness is uniquely associated with the same six traits around the world: cool people tend to be extroverted, hedonistic, adventurous, open, powerful, and autonomous.

    These findings help settle a long debate about what it means to be cool today.

    A brief history of cool

    Early writing on coolness described it as emotional restraint: being calm, composed and unbothered. This view, rooted in the metaphor of temperature and emotion, saw coolness as a sign of self-control and mastery.

    Some of these scholars trace this form of cool to slavery and segregation, where emotional restraint was a survival strategy among enslaved Africans and their descendants, symbolising autonomy and dignity in the face of oppression. Others propose “cool” restraint existed long before slavery.

    Regardless, jazz musicians in the 1940s first helped popularise this cool persona – relaxed, emotionally contained, and stylish – an image later embraced by youth and various countercultures. Corporations like Nike, Apple and MTV commercialised cool, turning a countercultural attitude into a more commercially friendly global aesthetic.

    This is what makes someone cool

    Our findings suggest that the meaning of cool has changed. It’s a way to identify and label people with a specific psychological profile.

    Cool people are outgoing and social (extroverted). They seek pleasure and enjoyment (hedonistic). They take risks and try new things (adventurous). They are curious and open to new experiences (open). They have influence or charisma (powerful). And perhaps most of all, they do things their own way (autonomous).

    This finding held remarkably steady across countries. Whether you’re in the US, South Korea, Spain or South Africa, people tend to think that cool individuals have this same “cool profile”.

    We also found that even though coolness overlaps with being good or favourable, being cool and being good are not the same. Being kind, calm, traditional, secure and conscientious were more associated with being good than cool. Some “cool” traits were not necessarily good at all, like extroversion and hedonism.

    What about South Africa and Nigeria?

    One of the most fascinating aspects of our study was seeing how consistent the meaning of coolness was across cultures – even in countries with very different traditions and values.

    In South Africa, participants viewed cool people as extroverted, hedonistic, powerful, adventurous, open and autonomous – just like participants from Europe to Asia. In South Africa, however, coolness is especially distinct from being good. South Africa is one of the countries in which being hedonistic, powerful, adventurous and autonomous was much more cool than good.



    Read more:
    Which African countries are flourishing? Scientists have a new way of measuring well-being

    Nigeria was the only country in which cool and uncool people were equally autonomous. So basically, individuality wasn’t seen as cool. That difference might reflect cultural values that place a greater emphasis on community, respect for elders, or collective identity. In places where tradition and hierarchy matter, doing your own thing might not be cool.

    Social sciences, like all science, however, are not perfect. So, it’s reasonable to speculate that autonomy might still be cool in Nigeria, with the discrepancy resulting from methodological issues such as how the Nigerian participants interpreted and responded to the survey.

    Nigeria was also unique because the distinction between cool and good wasn’t as notable as in other countries. So coolness was seen more as goodness than in the other countries.

    Why does this matter?

    The fact that so many cultures agree on what makes someone cool suggests that “coolness” may serve a shared social function. The traits that make people cool may make them more likely to try new things, innovate new styles and fashions, and influence others. These individuals often push boundaries and introduce new ideas – in fashion, art, politics, or technology. They inspire others and help shape what’s seen as modern, desirable, or forward-thinking.

    Coolness, in this sense, might function as a kind of cultural status marker – a reward for being bold, open-minded and innovative. It’s not just about surface style. It’s about signalling that you’re ahead of the curve, and that others should pay attention.

    So what can we learn from this?

    For one, young people in South Africa, Nigeria, and around the world may have more in common than we often think. Despite vast cultural differences, they tend to admire the same traits. That opens up interesting possibilities for cross-cultural communication, collaboration and influence.

    Second, if we want to connect with or inspire others – whether through education, branding, or leadership – it helps to understand what people see as cool. Coolness may not be a universal virtue, but it is a universal currency.

    And finally, there’s something reassuring in all this: coolness is not about being famous or rich. It’s about how you live. Are you curious? Courageous? True to yourself? If so, chances are someone out there thinks you’re cool – no matter where you’re from.

    Todd Pezzuti received funding from ANID Chile to conduct this research.

    – ref. What makes a person cool? Global study has some answers – https://theconversation.com/what-makes-a-person-cool-global-study-has-some-answers-261266

    MIL OSI –

  • MIL-OSI Submissions: What makes a person cool? Global study has some answers

    Source: The Conversation – Africa – By Todd Pezzuti, Associate Professor, Business School, Universidad Adolfo Ibáñez

    From Lagos to Cape Town, Santiago to Seoul, people want to be cool. “Cool” is a word we hear everywhere – in music, in fashion, on social media. We use it to describe certain types of people.

    But what exactly makes someone cool? Is it just about being popular or trendy? Or is there something deeper going on?

    In a recent study I conducted with other marketing professors, we set out to answer a simple but surprisingly unexplored question. What are the personality traits and values that make someone seem cool – and do they differ across cultures?

    We asked nearly 6,000 people from 12 countries to think of someone they personally knew who was “cool”, “not cool”, “good”, or “not good”. Then we asked them to describe that person’s traits and values using validated psychological measures. We used this data to examine how coolness differs from general likeability or morality.



    Read more:
    What makes a person seem wise? Global study finds that cultures do differ – but not as much as you’d think

    The countries ranged from Australia to Turkey, the US to Germany, India to China, Nigeria to South Africa.

    Our data showed that coolness is uniquely associated with the same six traits around the world: cool people tend to be extroverted, hedonistic, adventurous, open, powerful, and autonomous.

    These findings help settle a long debate about what it means to be cool today.

    A brief history of cool

    Early writing on coolness described it as emotional restraint: being calm, composed and unbothered. This view, rooted in the metaphor of temperature and emotion, saw coolness as a sign of self-control and mastery.

    Some of these scholars trace this form of cool to slavery and segregation, where emotional restraint was a survival strategy among enslaved Africans and their descendants, symbolising autonomy and dignity in the face of oppression. Others propose “cool” restraint existed long before slavery.

    Regardless, jazz musicians in the 1940s first helped popularise this cool persona – relaxed, emotionally contained, and stylish – an image later embraced by youth and various countercultures. Corporations like Nike, Apple and MTV commercialised cool, turning a countercultural attitude into a more commercially friendly global aesthetic.

    This is what makes someone cool

    Our findings suggest that the meaning of cool has changed. It’s a way to identify and label people with a specific psychological profile.

    Cool people are outgoing and social (extroverted). They seek pleasure and enjoyment (hedonistic). They take risks and try new things (adventurous). They are curious and open to new experiences (open). They have influence or charisma (powerful). And perhaps most of all, they do things their own way (autonomous).

    This finding held remarkably steady across countries. Whether you’re in the US, South Korea, Spain or South Africa, people tend to think that cool individuals have this same “cool profile”.

    We also found that even though coolness overlaps with being good or favourable, being cool and being good are not the same. Being kind, calm, traditional, secure and conscientious were more associated with being good than cool. Some “cool” traits were not necessarily good at all, like extroversion and hedonism.

    What about South Africa and Nigeria?

    One of the most fascinating aspects of our study was seeing how consistent the meaning of coolness was across cultures – even in countries with very different traditions and values.

    In South Africa, participants viewed cool people as extroverted, hedonistic, powerful, adventurous, open and autonomous – just like participants from Europe to Asia. In South Africa, however, coolness is especially distinct from being good. South Africa is one of the countries in which being hedonistic, powerful, adventurous and autonomous was much more cool than good.



    Read more:
    Which African countries are flourishing? Scientists have a new way of measuring well-being

    Nigeria was the only country in which cool and uncool people were equally autonomous. So basically, individuality wasn’t seen as cool. That difference might reflect cultural values that place a greater emphasis on community, respect for elders, or collective identity. In places where tradition and hierarchy matter, doing your own thing might not be cool.

    Social sciences, like all science, however, are not perfect. So, it’s reasonable to speculate that autonomy might still be cool in Nigeria, with the discrepancy resulting from methodological issues such as how the Nigerian participants interpreted and responded to the survey.

    Nigeria was also unique because the distinction between cool and good wasn’t as notable as in other countries. So coolness was seen more as goodness than in the other countries.

    Why does this matter?

    The fact that so many cultures agree on what makes someone cool suggests that “coolness” may serve a shared social function. The traits that make people cool may make them more likely to try new things, innovate new styles and fashions, and influence others. These individuals often push boundaries and introduce new ideas – in fashion, art, politics, or technology. They inspire others and help shape what’s seen as modern, desirable, or forward-thinking.

    Coolness, in this sense, might function as a kind of cultural status marker – a reward for being bold, open-minded and innovative. It’s not just about surface style. It’s about signalling that you’re ahead of the curve, and that others should pay attention.

    So what can we learn from this?

    For one, young people in South Africa, Nigeria, and around the world may have more in common than we often think. Despite vast cultural differences, they tend to admire the same traits. That opens up interesting possibilities for cross-cultural communication, collaboration and influence.

    Second, if we want to connect with or inspire others – whether through education, branding, or leadership – it helps to understand what people see as cool. Coolness may not be a universal virtue, but it is a universal currency.

    And finally, there’s something reassuring in all this: coolness is not about being famous or rich. It’s about how you live. Are you curious? Courageous? True to yourself? If so, chances are someone out there thinks you’re cool – no matter where you’re from.

    Todd Pezzuti received funding from ANID Chile to conduct this research.

    – ref. What makes a person cool? Global study has some answers – https://theconversation.com/what-makes-a-person-cool-global-study-has-some-answers-261266

    MIL OSI –

  • MIL-OSI USA: Ranking Member Frankel Opening Remarks at Full Committee Markup of the National Security, Department of State, and Related Programs Funding Bill

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Thank you, Mr. Chairman. I’m going to start by recognizing the collegiality of our Chairman Mr. Diaz-Balart and the thoughtful members on both sides of the aisle. And of course, I want to thank our hardworking staff for their tireless efforts. But most of all, I want to recognize the brave and committed Americans—our diplomats, USAID workers, humanitarian teams, and public health experts and our partners around the world—who bring our country’s values to the world’s toughest places. They’re the ones who delivered vaccines to remote villages in Congo, who help girls in Ethiopia escape forced marriage and find education and safety. 

    I’ve seen their work up close–I know many of us have—and the impact of the programs we funded. Children who escaped the brutality of Assad’s Syria thriving in classrooms in Jordan. Mothers in Malawi learning skills to support their families. Pregnant women in Kenya staying healthy with support from HIV clinics. To all of these workers —past and present: You are the patriots. You represent the best of America. And those who are still serving deserve more than our thanks. They deserve the tools to get the job done.

    Mr. Chairman, I wish we had a bipartisan bill in front of us that I could support that honored that service and reflected America’s leadership. If we had a responsible allocation and a White House that understood diplomacy, development, and humanitarian aid, we could have gotten there. But instead, here we are, questioning whether any of this matters when the President just ignores the will of Congress and the laws we pass.

    So today, I strongly oppose the FY 2026 Republican bill. It’s not just a funding cut—it’s a reckless blueprint for American retreat. Our President seems to think relying on threats and bullying alone is a smart strategy. But chaotic tariffs, cruel immigration crackdowns, and this tepid foreign aid plan before us today is not going to make us more safe, secure, or more prosperous. And attention: we are ceding the world to China. And let me be clear: This bill does not lower costs for hard working families and retirees on day one as promised by President Trump—instead it puts hard earned finances at risk by hurting global stability.

    And tax breaks for billionaires is not a trade-off for millions of starving children and let me just say that this bill does not make one bit of difference in making up the $4 trillion addition to our debt when the Republicans pass what they call their Big Bill their Big Beautiful Bill I call it the Big Ugly Bill   And this bill is just adds to the list of  troubling actions by the Administration.

    Here’s what’s happened leading up: Foreign aid has been held up illegally, then justified by an inane clawback known as recission; USAID—an agency backed by Congress that fights poverty and prevents conflict—gutted; Over 10,000 development and humanitarian professionals dismissed by Elon Musk; 5,000 life-saving aid programs abruptly terminated; 1,300 State Department staff laid off; Offices shuttered. Decades of progress wiped out. How disgusting , the richest man in the world was allowed to pull the plug on programs that save the world’s poorest children.

    The infrastructure and staffing is no longer present to carry out the few programs that remain. Let me say this again with emphasis: The infrastructure and staffing is no longer present to carry out the few programs that remain.

    All while the world faces crisis after crisis: Wars and armed conflict, Extreme weather, Hunger and famine, Disease outbreaks, Mass migration, and Rising authoritarian regimes

    These aren’t distant problems. They land right at our door: Fragile states collapse and migration surges; Trade stops and U.S. farmers and businesses lose buyers ;Climate disasters destroy crops and homes; Broken health systems allow deadly viruses to spread; And when we step back, China and Russia step in—not to help, but to expand their grip.

    We’re leaving behind a gap they fill with money, weapons, and propaganda taking over the airwaves – reaching listeners who used to rely on Voice of America and our international broadcasting. They want to remake the world to fit their playbook.

    Meanwhile, sadly our allies are also slashing foreign aid —pushed to spend more on weapons by Mr. Trump. As global needs explode, democracy’s soft power is vanishing. This bill fails to meet this moment.

    Here’s what it really does:

    Cuts 22% from the international affairs budget – that’s $13 billion, diminishing funding for development and economic assistance:

    • Kids kicked out of the classroom and cut off from clean water
    • Farmers losing seeds and tools to make a living
    • Violence prevention programs vanishing
    • Local nonprofits shut down

    The bill slashes humanitarian aid by 42%:

    • In Nigeria, malnourished infants are dying without food
    • In Myanmar, hospitals are going dark
    • In The Gambia, support for survivors of female genital mutilation has ended—as the country debates making it legal again
    • In Ukraine, wounded soldiers go without care
    • In Ecuador, women entrepreneurs are losing lifelines and heading for our border

    This is a blow to our credibility, our moral standing, and our global influence. Soft power – interestingly enough – development and diplomacy – have been secret weapons abroad. Without them, we’re losing Americans on the ground who know the terrain, see trouble coming, and keep us one step ahead.

    And as always, my, my, my. Here we go again–Republicans couldn’t resist one more swipe at women: Slashing family planning programs that save hundreds of thousands of lives each year and prevent millions of unplanned pregnancies, Reinstating the Global Gag Rule—which blocks funding to foreign groups that even talk about abortion; you can’t even say the word “abortion”, not do abortion, say the word “abortion”– you lose your funding, Gutting the UNFPA—which provides basic reproductive and maternal care in over 150 countries

    And while this bill guts humanitarian programs and walks away from the world’s most vulnerable, the administration is also on the road to destroying one of the smartest, most effective tools of U.S. foreign policy: the Women, Peace, and Security agenda. WPS is not some fringe idea. It’s the law, signed by guess who, Donald Trump. It passed with strong bipartisan support. And here’s why: Women experience conflict differently than men—often bearing the brunt of sexual violence, displacement, and the burden of caring for families amid chaos—yet they are too often excluded from life changing decisions. The WPS agenda has helped train diplomats, strengthen alliances, and put more women at the center of peace and security.

    When women are at the table for peace talks, recovery, and crisis response, the results are better. Period. Peace lasts longer. Communities recover faster. And Missions succeed. And yet, this administration shut down the State Department’s office that leads that work—right when we need women’s leadership the most. That’s not just shortsighted. It makes the world less safe and works directly against our own interests.

    The bill also abandons multilateral institutions and organizations—UNICEF, the UN Development Program, the African and Asian Development Banks, the World Bank, the World Health Organization—undermining our ability to shape the global agenda and ceding ground to autocrats. Guess who? Attention: China is going to take over this world.

    So why should Americans care that these cuts are going to cost more than they save? Because these cuts hurt American families, too.  When we walk away from the world: Chaos spreads; Troops are put in harm’s way; Our adversaries gain ground; And we pay the price—in dollars, and in lives.

    And look, I say this not just as a lawmaker, but as a mother. My son served in the Marines. He was sent to two wars–Iraq and Afghanistan– I know what it means when diplomacy fails. The cost isn’t hypothetical—it hits our soldiers and their families the hardest.

    Let me remind you: the international affairs budget was already less than 1% of our federal spending. But it delivered huge returns: Markets for American goods; Stability abroad; Protection from pandemics; Fewer troops sent into harm’s way.

    Last week, we passed an $832 billion defense bill—that’s hard power. But even our top generals warn: without soft power alongside it, that number will only keep rising. So, Mr. Chairman, This bill is a lost opportunity. It’s a failure to lead. It hurts American families because when health systems collapse, people get sick.  When trade stalls, jobs vanish. When diplomacy fails, our loved ones go to war.  So let me close with this: Democrats aren’t giving up. We’re ready to work together with Republicans to reach a bill that reflects our values, keeps our promises, and protects American lives. Because we can’t bomb and drone our way to peace and prosperity.  A strong America doesn’t hide. And it doesn’t bully. A strong America leads—with vision, with courage, and compassion. And That’s the bill we should be fighting for. Thank you. I yield back.

    MIL OSI USA News –

  • MIL-OSI: Mark Cuban Foundation and Who We Play For Bring Free AI Bootcamp to Melbourne Teens

    Source: GlobeNewswire (MIL-OSI)

    MELBOURNE, Fla., July 24, 2025 (GLOBE NEWSWIRE) — High school students in Melbourne have the chance to get hands-on experience with artificial intelligence through a free AI Bootcamp launched by the Mark Cuban Foundation, in partnership with Who We Play For and Groundswell Startups. Applications close September 30.

    This event brings the only artificial intelligence (AI) camp of its kind, free of charge, to the Space Coast. With a custom and highly-relevant curriculum focused on teaching students about the latest developments in the world of AI and Generative AI, the camp will provide the tools to make these technologies work for them and promises to educate, inspire and fuel the next generation of AI professionals.

    The program aims to provide students with a foundational understanding of artificial intelligence and its applications to future careers. Students can select from six tracks: healthcare, arts and entertainment, business and entrepreneurship, computer science, sports science, or education and career readiness. Driven by the belief that fostering interest in AI at a young age is crucial for preparing the next generation for their future, the AI Bootcamps are introductory and accessible to students in 9-12 grade with an interest in technology. Students do not need any familiarity with computer science or programming to attend.

    This free AI Bootcamp is hosted for underserved high school students with a transparent focus on recruiting girls, students of color, first generation college students, and those from low to moderate income households. The AI Bootcamp Program provides students with lunch and a snack, transportation assistance, and technology equipment during bootcamp.

    “As AI continues to become an undeniable force in all of our lives, it’s crucial that we open the door to this knowledge, especially to young people who want to explore it,” said Mark Cuban, founder. “While technology expands and becomes more advanced, it becomes more critical that we ensure our students are prepared when they apply for schools or jobs in the future. Thanks to our work with Who We Play For and Groundswell Startups, the bootcamp will offer an avenue to explore this fascinating field of technology to any student, no matter their means.”

    This year’s bootcamp, taking place in Melbourne on November 1st, 8th, and 15th is hosted and staffed by Groundswell Startups and Who We Play For, two organizations dedicated to fostering innovation, growth, and opportunity on the Space Coast.

    Who We Play For, a nonprofit organization committed to preventing sudden cardiac death in young people by providing affordable and accessible heart screenings. Founded in memory of Rafe Maccarone, a local student-athlete who lost his life to sudden cardiac arrest in 2007, the organization works tirelessly to ensure that no family, team, or community has to experience a similar loss. Through partnerships with schools, sports clubs, and community organizations, Who We Play For brings non-invasive heart screenings to youth across the country while raising awareness about the importance of early detection and advocating for increased access to life-saving resources.

    Groundswell Startups, founded in 2016, is a non-profit incubator and coworking space bringing concepts to life and accelerating scalability for businesses ranging from tech to manufacturing in Florida’s Space Coast and around the Southeast region.

    “This partnership reflects what Groundswell was built to do,” said Groundswell Co-Founder Bud Deffebach. “Events like these empower the next generation of tech innovators to understand and utilize AI. We are proud to join with the Mark Cuban Foundation in providing this experience to local students.”

    This partnership is one of more than 25 selected to host camps across the U.S. and the only event hosted in Florida.

    “We are thrilled to partner with the Mark Cuban Foundation and Groundswell Startups to share insights on artificial intelligence and the importance of early exposure to emerging technologies. This partnership is a great opportunity to showcase how AI is driving meaningful impact in our work here at Who We Play For, and we are proud to bring the AI Bootcamp to our hometown,” said Who We Play For Technical Director, Klynton Holmes.

    There are just 9 weeks left until the September 30 deadline. Do not miss your chance—submit your application now, as spaces are limited.

    Apply for the bootcamp at: markcubanai.org.

    Watch Mark Cuban’s message about Mark Cuban Foundation’s AI bootcamps and access the full media kit here.

    To learn more, visit markcubanai.org.

    This bootcamp is facilitated with support from Mark Cuban Foundation AI Bootcamp Program’s media partner, Notified, a globally trusted technology partner for investor relations, public relations and marketing professionals.

    About Mark Cuban Foundation’s AI Bootcamp Initiative
    The Mark Cuban Foundation is a 501(c)(3) private non-profit led by entrepreneur and investor Mark Cuban. The AI Bootcamps Program at MCF seeks to inspire young people with emerging technology so that they can create more equitable futures for themselves and their communities. Over 3 consecutive Saturdays underserved 9th – 12th grade students learn what AI is and isn’t, where they already interact with AI in their own lives, the ethical implications of AI systems, and much more. Learn more about the no-cost AI Bootcamp program at markcubanai.org.

    About Who We Play For

    WWPF represents every young person who lost their life to sudden cardiac arrest (SCA). Our fight is to ensure that other families, teams, and communities will never know that pain.

    On our mission to eliminate preventable sudden cardiac death in the young through affordable heart screenings, WWPF has screened over 450,000 youth across more than 500 communities throughout the United States. As a result of WWPF’s screening program, more than 450 youth with life threatening heart conditions have received immediate, life-saving medical intervention and thousands more are now aware of cardiac abnormalities that may increase their risk for SCA later in life.

    Alongside the world’s leaders in pediatric cardiology, our vision is to elevate the standard of care for ALL youth, no matter their level of athletics, socio-economic status or geographical location.

    About Groundswell Startups

    Groundswell, a nonprofit high-tech incubator in Florida’s Space Coast, serves as a hub that unites founders, mentors, investors, and trusted support services. Our mission is simple yet powerful: to envelop entrepreneurs in a supportive ecosystem abundant with resources. We pave the way for company building, industry disruption, and scalable growth. At Groundswell, we believe in empowering startups with the essential network and resources to thrive in the heart of the Space Coast’s innovation landscape. Learn more or find support for your startup idea at www.swellstartups.com.

    The MIL Network –

  • MIL-OSI: Silvaco Strengthens Leadership Team with Three Industry Veterans to Drive Innovation and Growth

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., July 24, 2025 (GLOBE NEWSWIRE) — Silvaco Group, Inc. (“Silvaco”) (NASDAQ: SVCO), a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation, today announced the addition of three seasoned industry veterans to its leadership team: Andrew Wright as Senior Vice President and General Manager of the Semiconductor IP Business Unit, Jasvinder Singh as Senior Vice President and General Manager of the EDA Business Unit, and John Berg as Vice President of Business Development. Collectively, they bring decades of experience in semiconductor design and software development to Silvaco and will play pivotal roles in accelerating innovation and operational excellence.

    “Adding these accomplished leaders strengthens our ability to innovate and scale Silvaco’s organic growth,” said Babak Taheri, CEO of Silvaco. “Their insights and proven track records will help advance and accelerate the next phase of our growth. With their expertise, we are well-positioned to broaden our market presence and deliver even greater value to our customers worldwide.”

    Andrew Wright leads Silvaco’s Semiconductor IP Business Unit. Most recently, he served as Senior Vice President of R&D and New Product Introduction at Efabless. He previously served as Executive Vice President of New Product Development at Cypress Semiconductor where he led the company’s chip and IP design methodologies and oversaw the development of all Cypress IP and new products. He has also held executive roles at UltraSense and Waterbit.

    Jasvinder Singh leads Silvaco’s EDA Business Unit. With over 20 years of leadership experience in EDA, AI, semiconductor and autonomous systems. Jasvinder has built and scaled global R&D teams and driven product, platform and engineering growth for multi-billion-dollar organizations. He has held senior roles at Synopsys, SiClarity, and Cadence, where he led innovations across AI, verification and cloud-enabled design platforms.

    John Berg leads business development across all of Silvaco’s product lines. He brings over two decades of leadership experience in quantum computing, semiconductor electronics, and photonics. John has a track record of productizing transformative hardware technologies and solving complex operational challenges. Most recently, he served as Vice President of Supply Chain at PsiQuantum. He has held senior leadership roles at American Semiconductor, Nantero, and Cypress Semiconductor.

    About Silvaco Group, Inc.
    Silvaco is a provider of TCAD, EDA software, and SIP solutions that enable semiconductor design and digital twin modeling through AI software and innovation. Silvaco’s solutions are used for semiconductor and photonics processes, devices, and systems development across display, power devices, automotive, memory, high performance compute, foundries, photonics, internet of things, and 5G/6G mobile markets for complex SoC design. Silvaco is headquartered in Santa Clara, California, and has a global presence with offices located in North America, Europe, Brazil, China, Japan, Korea, Singapore, and Taiwan. Learn more at silvaco.com.

    Contacts
    Media Relations:
    Tiffany Behany, press@silvaco.com

    Investor Relations:
    Greg McNiff, investors@silvaco.com

    The MIL Network –

  • MIL-OSI Submissions: As Mexico’s LGBTQ+ community battles for inclusion, two drag performers have become internet stars – with more than 2 million TikTok followers

    Source: The Conversation – USA (2) – By Francisco Tijerina, PhD Candidate in Hispanic Studies, Washington University in St. Louis

    Turbulence Queen, left, and Burrita Burrona perform at the Mexico City Pride Parade in June 2024. Jaime Nogales/Medios y Media via Getty Images News

    In January 2022, Erick Martínez, also known as Turbulence Queen, introduced a guest on his YouTube channel: Ivan “Momo” Guzmán, with the stage name Burrita Burrona, a drag performer wearing a cartoonish donkey costume topped by a wig.

    During their interview, Turbulence and Burrita shared stories, gossiped and threw shade at Mexican actors, newscasters and performers. Soon after, their careers took off.

    Before Burrita’s first appearance, Turbulence’s YouTube channel had fewer than 5,000 subscribers. Now, after the rebranding of the show to include Burrita’s name, their channel has about 375,000. More than 2 million subscribe to them on TikTok – Turbulence, with 600,000 followers and 16 million likes; Burrita with 1.5 million followers and 28 million likes. Their “El Podcast del Momento” has more than 225,000 subscribers.

    The two proved so popular that corporate sponsors started getting in on the action. Soriana, a large supermarket chain in Mexico, splashed their images on a line of cakes. Netflix Latin America had them hosting a series of videos promoting its new South Korean dramas. The media giant Televisa included Turbulence and Burrita as part of their comedic coverage of the 2024 Paris Olympics.

    Over the past 3 ½ years, the YouTube show has added some new characters, including Burrita’s mom and an on-and-off love interest, a butch lesbian wolf. Along with the interviews, the characters do comedic cooking segments and sketches. Even in today’s fragmented and cluttered media environment, the program regularly gets around 250,000 views, with some episodes reaching more than 1 million.

    While drag performers are not new in Mexico, Burrita is something of a novelty: a drag mascot. Although long a part of Mexico’s commercial culture – mascots promote everything from soccer teams to pharmacies and are a staple at children’s birthday parties – Burrita is the first to do it in drag.

    A clip from an episode of ‘El Podcast del Momento.’

    Discrimination and violence

    As a Mexican scholar who specializes in the study of gender and sexuality, I’m struck by how these LGBTQ+ characters have become enormously popular in what I consider a relatively conservative and deeply religious country. However, that too is changing: Today’s Mexico is sometimes called a conservative country with liberal laws. Still, in a country where about 5% of the population self-identify as LGBTQ+, the battle for inclusion – and more diverse representation of gender and sexuality – is far from over.

    In 2023, conservative groups pressured the International Book Fair of Monterrey to cancel a public short-story reading by drag queens. In 2024, a social media influencer’s misogynistic, homophobic and transphobic remarks ran live on national television. Also in 2024, San Nicolás de los Garza, a city of more than 400,000 people, banned public performances by drag queens. Ironically, San Nicolás is in the state of Nuevo Leon, which has one of the largest LGBTQ+ populations in Mexico.

    Indeed, national policies protecting the LGBTQ+ community don’t always apply equally; some states are more restrictive than others. For example, although Mexico’s Supreme Court legalized same-sex marriage in 2015, three states have yet to ratify it in their state constitutions.

    Turbulence Queen is interviewed on local TV at a 2023 red carpet event in Mexico.
    Jaime Nogales/Medios y Media via Getty Images Entertainment

    In May 2025, Mexico’s National Institute of Statistics and Geography reported these findings: 60% of the LGBTQ+ community say they’ve been subjected to some form of violence. Nearly 30% have had suicidal thoughts or have attempted suicide. Just over 37% say they experienced some form of discrimination during the past year. From 2020 to 2025, 25% said they were denied access to health care, education or social support. Hate crimes are on the rise, with 672 reported over a five-year period, including 141 in 2024, a significant jump from the 92 reported in 2023. The 2024 statistic includes 55 murders of transgender women.

    Taking off the mask

    Turbulence and Burrita’s swift success is impressive, but not all LGBTQ+ citizens in Mexico enjoy the same level of recognition and privilege. And as the fight for equal treatment continues, the country’s politics over the past decade has shifted. In 2018, leftist Andrés Manuel López Obrador was elected president. His successor, Claudia Sheinbaum, a climate scientist and a close ally of López Obrador’s, was elected in 2024.

    But although both López Obrador and Sheinbaum are more progressive than previous administrations, neither has been particularly vocal about their support for the LGBTQ+ community. For instance: Although Sheinbaum, Mexico’s first female and Jewish president, mentioned her support for the LGBTQ+ community during her campaign, she has largely ignored LGBTQ+ issues since taking office.

    Until recently, there were few openly LGBTQ+ people pitching products or appearing on television. But Guzmán, who’s the first mascot to perform in drag, is not hiding his sexuality, despite the costume. Rather, he can be read as a symbol of Mexico’s ongoing pursuit of equality. And perhaps his character’s visibility will allow more in the community to be able to shed their masks and come out.

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

    – ref. As Mexico’s LGBTQ+ community battles for inclusion, two drag performers have become internet stars – with more than 2 million TikTok followers – https://theconversation.com/as-mexicos-lgbtq-community-battles-for-inclusion-two-drag-performers-have-become-internet-stars-with-more-than-2-million-tiktok-followers-241552

    MIL OSI –

  • MIL-OSI Submissions: Why 2025 became the summer of flash flooding in America

    Source: The Conversation – USA (2) – By Jeffrey Basara, Professor of Meteorology, UMass Lowell

    Rescuers searched for survivors after a flash flood in Texas Hill Country on July 4, 2025, that killed more than 130 people. Jim Vondruska/Getty Images

    The National Weather Service has already issued more than 3,600 flash flood warnings across the United States in 2025, and that number is increasing as torrential downpours continue in late July. There’s a good chance the U.S. will exceed its yearly average of around 4,000 flash flood warnings soon.

    For communities in Texas, New Mexico, West Virginia and New Jersey, the floods have been deadly. And many more states have seen flash flood damage in recent weeks, including New York, Oklahoma, Kansas, Vermont and Iowa.

    What’s causing so much extreme rain and flooding?

    Much of the central and eastern U.S. has had above-normal precipitation over the three months from April 23 through July 24, 2025. Blues are 150% to 200% of normal. Purples are even higher.
    NOAA National Water Prediction Service

    I study extreme precipitation events along with the complex processes that lead to the devastating damage they cause.

    Both the atmosphere and surface conditions play important roles in when and where flash floods occur and how destructive they become, and 2025 has seen some extremes, with large parts of the country east of the Rockies received at least 50% more precipitation than normal from mid-April through mid-July.

    Excess water vapor, weaker jet stream

    Flash floods are caused by excessive precipitation over short periods of time. When rain accumulates too fast for the local environment to absorb or reroute it, flooding ensues, and conditions can get dangerous fast.

    Flooding from heavy rain in the Boston area on July 10, 2025, shut down an interstate and filled streets and garages with water.
    John Tlumacki/The Boston Globe via Getty Images

    During the warm season, intrusions of tropical air with excessive water vapor are common in the U.S., and they can result in intense downpours.

    In addition, the jet stream and westerly winds – which move storm systems from west to east across the U.S. – tend to weaken during summer. As a result, the overall movement of thunderstorms and other precipitation-producing systems slows during the summer months, and storm systems can remain almost stationary over a location.

    The combination of intense rainfall rates and extended precipitation increases the likelihood of flash flooding.

    The surface rain falls on makes a difference, too

    Local surface characteristics also play important roles in how flash floods develop and evolve.

    When intense precipitation is combined with saturated soils, steep slopes, urban areas and sparse vegetation, runoff can quickly overwhelm local streams, rivers and drainage systems, leading to the rapid rise of water levels.

    When the remnants of Hurricane Helene hit the mountains of North Carolina in October 2024, the intense rainfall on steep slopes quickly filled streams and then rivers that washed away homes in their narrow valleys.
    Sean Rayford/Getty Images

    Because the characteristics of the surface can vary significantly along a stream or river, the timing and location of a heavy downpour pose unique risks for each local area.

    What’s driving flash floods in 2025?

    During the horrific flooding in Texas Hill Country on July 4, 2025, that killed more than 135 people, atmospheric water vapor in the region was at or near historic levels. The storm hit at the headwaters of the Guadalupe River, over streams that converge in the river valley.

    As thunderstorms developed and remained nearly stationary over the region, they were fueled by the excessive atmospheric water vapor. That led to high rainfall rates. Hours of heavy rainfall early that morning sent the river rising quickly at a summer camp near Hunt, Texas, where more than two dozen girls and staff members died. Downstream at Kerrville, the river rose even faster, gaining more than 30 feet in 45 minutes.

    Overall, a persistent atmospheric pattern in late spring and summer 2025 has included a shift of the jet stream farther to the south than normal and, along with lower atmospheric pressures, has supported excessive rainfall across the central and eastern U.S.

    While the West Coast has experienced dry conditions in early summer 2025 due to a ridge of high pressure, the U.S. east of the Rockies has seen an active storm track with frontal boundaries and disturbances that produced thunderstorms and intense downpours across the region.

    Warmer-than-normal ocean water can also boost rainfall. The Caribbean and the Atlantic Ocean are source regions for atmospheric water vapor in the central and eastern U.S. In summer 2025, that water vapor has created extremely humid conditions, which have produced very high rainfall rates when storms develop.

    The result has been flash floods in several states producing catastrophic destruction and loss of life.

    Looking to the future

    The U.S. has seen devastating flash floods throughout its history, but rising global temperatures today are increasing the risk of flooding.

    As ocean and air temperatures rise, atmospheric water vapor increases. Higher ocean temperatures can produce more atmospheric water vapor through evaporation, and a warmer atmosphere can hold more moisture, fueling downpours. In some high-risk areas, meteorologists, aware of the risks, say they are becoming more proactive about warnings.

    Currently, evidence shows that atmospheric water vapor is increasing in the overall global climate system as temperatures rise.

    Jeffrey Basara receives funding from the National Science Foundation, NASA, and NOAA.

    – ref. Why 2025 became the summer of flash flooding in America – https://theconversation.com/why-2025-became-the-summer-of-flash-flooding-in-america-261650

    MIL OSI –

  • MIL-OSI: Donegal Group Inc. Announces Second Quarter and First Half 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    MARIETTA, Pa., July 24, 2025 (GLOBE NEWSWIRE) — Donegal Group Inc. (NASDAQ: DGICA) and (NASDAQ: DGICB) today reported its financial results for the second quarter and first half of 2025.

    Significant Items for Second Quarter of 2025 (all comparisons to second quarter of 2024):

    • Net premiums earned decreased 1.1% to $231.8 million
    • Combined ratio of 97.7%, compared to 103.0%
    • Net income of $16.9 million, or 46 cents per diluted Class A share, compared to $4.2 million, or 13 cents per diluted Class A share
    • Net investment gains (after tax) of $1.2 million, or 3 cents per diluted Class A share, compared to $0.6 million, or 2 cents per diluted Class A share, are included in net income
    • Annualized return on average equity of 11.3%, compared to 3.4%
    • Book value per share of $16.62 at June 30, 2025, compared to $14.48 at June 30, 2024

    Financial Summary

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands, except per share amounts)
                           
    Income Statement Data                      
    Net premiums earned $ 231,775     $ 234,311       -1.1 %   $ 464,476     $ 462,060       0.5 %
    Investment income, net   12,540       11,068       13.3       24,524       22,041       11.3  
    Net investment gains   1,544       737       109.5       1,073       2,850       -62.4  
    Total revenues   247,148       246,773       0.2       491,953       487,913       0.8  
    Net income   16,866       4,153       306.1       42,071       10,108       316.2  
    Non-GAAP operating income1   15,647       3,571       338.2       41,224       7,857       424.7  
    Annualized return on average equity   11.3 %     3.4 %   7.9 pts     14.6 %     4.2 %   10.4 pts
                           
    Per Share Data                      
    Net income – Class A (diluted) $ 0.46     $ 0.13       253.8 %   $ 1.17     $ 0.31       277.4 %
    Net income – Class B   0.43       0.11       290.9       1.08       0.28       285.7  
    Non-GAAP operating income – Class A (diluted)   0.43       0.11       290.9       1.14       0.24       375.0  
    Non-GAAP operating income – Class B   0.40       0.10       300.0       1.06       0.22       381.8  
    Book value   16.62       14.48       14.8       16.62       14.48       14.8  
                           
                           

    1The “Definitions of Non-GAAP Financial Measures” section of this release defines and reconciles data that we prepare on an accounting basis other than U.S. generally accepted accounting principles (“GAAP”).

    Management Commentary

    Kevin G. Burke, President and Chief Executive Officer of Donegal Group Inc., stated, “We are pleased with the progress we have made and the results we delivered for both the second quarter and first half of 2025, which we believe reflect the strength of our strategic execution and underwriting discipline. A meaningful improvement in our core loss ratio for both periods underscores our commitment to disciplined risk management and sustainable profitability. As expected, net premiums written1 declined this quarter, as lower new business writings and planned attrition modestly outpaced ongoing premium rate increases and solid retention levels. As a proactive measure, we intentionally slowed new business writings in our personal lines of business to protect underwriting margins and ensure we remain focused on profitable growth opportunities. We continue to identify and pursue profitable new business opportunities in states and classes that match our objectives.

    “We reached a significant milestone in our multi-year systems modernization project with the successful deployment of our final major commercial lines systems release. During the second half of 2025, we will begin to roll out this enhanced platform on a state-by-state basis, enabling us to more effectively target and win key middle market accounts. When the rollout is completed in the first half of 2026, we will be operating on a single modern technology platform for all of our middle market and small business commercial product offerings.

    “As we look ahead, we remain focused on disciplined execution, organizational alignment and operational excellence to further strengthen our long-term competitive position and enhance value for our stockholders.”

    Insurance Operations

    Donegal Group is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in three Mid-Atlantic states (Delaware, Maryland and Pennsylvania), five Southern states (Georgia, North Carolina, South Carolina, Tennessee and Virginia), eight Midwestern states (Illinois, Indiana, Iowa, Michigan, Nebraska, Ohio, South Dakota and Wisconsin) and five Southwestern states (Arizona, Colorado, New Mexico, Texas and Utah). Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group conduct business together as the Donegal Insurance Group.

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands)
                           
    Net Premiums Earned                      
    Commercial lines $ 138,527     $ 134,489       3.0 %   $ 274,743     $ 266,581       3.1 %
    Personal lines   93,248       99,822       -6.6       189,733       195,479       -2.9  
    Total net premiums earned $ 231,775     $ 234,311       -1.1 %   $ 464,476     $ 462,060       0.5 %
                           
    Net Premiums Written                      
    Commercial lines:                      
    Automobile $ 50,584     $ 47,089       7.4 %   $ 107,109     $ 100,603       6.5 %
    Workers’ compensation   24,243       27,591       -12.1       52,997       58,665       -9.7  
    Commercial multi-peril   56,478       55,870       1.1       117,268       113,373       3.4  
    Other   13,609       11,698       16.3       28,158       25,101       12.2  
    Total commercial lines   144,914       142,248       1.9       305,532       297,742       2.6  
    Personal lines:                      
    Automobile   52,741       62,427       -15.5       107,933       123,808       -12.8  
    Homeowners   33,590       39,608       -15.2       62,378       71,367       -12.6  
    Other   2,568       2,906       -11.6       5,062       5,714       -11.4  
    Total personal lines   88,899       104,941       -15.3       175,373       200,889       -12.7  
    Total net premiums written $ 233,813     $ 247,189       -5.4 %   $ 480,905     $ 498,631       -3.6 %
                           
                           

    Net Premiums Written

    The 5.4% decrease in net premiums written for the second quarter of 2025 compared to the second quarter of 2024, as shown in the table above, represents the net combination of a 1.9% increase in commercial lines net premiums written and a 15.3% decrease in personal lines net premiums written. The $13.3 million decrease in net premiums written for the second quarter of 2025 compared to the second quarter of 2024 included:

    • Commercial Lines: $2.7 million increase that we attribute primarily to solid retention and a continuation of renewal premium increases in lines other than workers’ compensation, offset partially by lower new business writings.
    • Personal Lines: $16.0 million decrease that we attribute primarily to planned attrition due to lower new business writings and non-renewal actions, offset partially by a continuation of renewal premium rate increases and solid retention.

    Underwriting Performance

    We evaluate the performance of our commercial lines and personal lines segments primarily based upon the underwriting results of our insurance subsidiaries as determined under statutory accounting practices. The following table presents comparative details with respect to the GAAP and statutory combined ratios1 for the three and six months ended June 30, 2025 and 2024:

      Three Months Ended   Six Months Ended
      June 30   June 30
        2025       2024       2025       2024  
                   
    GAAP Combined Ratios (Total Lines)              
    Loss ratio – core losses   50.1 %     55.0 %     52.1 %     56.8 %
    Loss ratio – weather-related losses   11.1       10.6       7.4       7.7  
    Loss ratio – large fire losses   5.2       5.3       4.3       5.9  
    Loss ratio – net prior-year reserve development   -1.3       -0.3       -2.9       -2.0  
    Loss ratio   65.1       70.6       60.9       68.4  
    Expense ratio   32.2       31.9       33.4       33.8  
    Dividend ratio   0.4       0.5       0.3       0.5  
    Combined ratio   97.7 %     103.0 %     94.6 %     102.7 %
                   
    Statutory Combined Ratios              
    Commercial lines:              
    Automobile   97.7 %     93.5 %     94.6 %     96.6 %
    Workers’ compensation   104.9       117.0       111.3       114.2  
    Commercial multi-peril   97.5       110.6       93.9       106.7  
    Other   119.8       94.3       100.6       88.3  
    Total commercial lines   101.0       104.9       97.8       103.3  
    Personal lines:              
    Automobile   79.3       95.6       82.2       97.7  
    Homeowners   115.1       103.1       99.0       102.7  
    Other   55.2       104.7       55.9       94.8  
    Total personal lines   91.7       98.6       87.5       99.4  
    Total lines   97.4 %     102.2 %     93.9 %     101.7 %
                   
                   

    Loss Ratio

    For the second quarter of 2025, the loss ratio decreased to 65.1%, compared to 70.6% for the second quarter of 2024. For the commercial lines segment, the core loss ratio, which excludes weather-related losses, large fire losses and net development of reserves for losses incurred in prior accident years, of 54.5% for the second quarter of 2025 decreased modestly from 54.8% for the second quarter of 2024. For the personal lines segment, the core loss ratio of 43.3% for the second quarter of 2025 decreased from 55.3% for the second quarter of 2024, due largely to the favorable impact of premium rate increases on net premiums earned for that segment.

    Weather-related losses were $25.8 million, or 11.1 percentage points of the loss ratio, for the second quarter of 2025, compared to $24.7 million, or 10.6 percentage points of the loss ratio, for the second quarter of 2024. Weather-related loss activity for the second quarter of 2025 was higher than our previous five-year average of $18.9 million, or 9.2 percentage points of the loss ratio, for second-quarter weather-related losses. Atlantic States Insurance Company, our largest insurance subsidiary, incurred $3.0 million in net losses from a catastrophic wind and hail loss event in April 2025, with Donegal Mutual assuming losses that subsidiary incurred from the event in excess of its retention under an intercompany catastrophe reinsurance agreement.

    Large fire losses, which we define as individual fire losses in excess of $50,000, for the second quarter of 2025 were $12.1 million, or 5.2 percentage points of the loss ratio. That amount was comparable to the large fire losses of $12.5 million, or 5.3 percentage points of the loss ratio, for the second quarter of 2024. We experienced a modest decrease in commercial property fire losses that was partially offset by a modest increase in homeowners fire losses compared to the prior-year quarter.

    Net favorable development of reserves for losses incurred in prior accident years reduced the loss ratio by 1.3 percentage points for the second quarter of 2025 and had virtually no impact for the second quarter of 2024. Our insurance subsidiaries experienced favorable development primarily in the personal automobile and homeowners lines of business, partially offset by adverse development in other commercial lines that we primarily attribute to higher-than-anticipated case reserve development.

    Expense Ratio

    The expense ratio was 32.2% for the second quarter of 2025, compared to 31.9% for the second quarter of 2024. The increase in the expense ratio primarily reflected higher underwriting-based incentive costs for agents and employees, partially offset by the favorable impact of ongoing expense management initiatives. The impact from costs that Donegal Mutual Insurance Company allocated to our insurance subsidiaries related to its ongoing systems modernization project peaked at approximately 1.3 percentage points of the full year 2024 expense ratio, and we expect that impact to subside gradually over the next several years. Allocated costs related to that project represented approximately 1.0 percentage point of the expense ratio for the second quarter of 2025, and we expect the full year 2025 expense ratio impact will also be approximately 1.0 percentage point.

    Investment Operations

    Donegal Group’s investment strategy is to generate an appropriate amount of after-tax income on its invested assets while minimizing credit risk through investment in high-quality securities. As a result, we had invested 95.4% of our consolidated investment portfolio in diversified, highly rated and marketable fixed-maturity securities at June 30, 2025.

      June 30, 2025   December 31, 2024
      Amount   %   Amount   %
      (dollars in thousands)
    Fixed maturities, at carrying value:              
    U.S. Treasury securities and obligations of U.S.            
    government corporations and agencies $ 145,585       10.2 %   $ 170,423       12.3 %
    Obligations of states and political subdivisions   424,010       29.7       409,560       29.6  
    Corporate securities   441,603       30.9       440,552       31.8  
    Mortgage-backed securities   353,639       24.7       304,459       22.0  
    Allowance for expected credit losses   (1,374 )     -0.1       (1,388 )     -0.1  
    Total fixed maturities   1,363,463       95.4       1,323,606       95.6  
    Equity securities, at fair value   41,007       2.9       36,808       2.6  
    Short-term investments, at cost   24,764       1.7       24,558       1.8  
    Total investments $ 1,429,234       100.0 %   $ 1,384,972   100.0 %
                   
    Average investment yield   3.5 %         3.3 %    
    Average tax-equivalent investment yield   3.6 %         3.4 %    
    Average fixed-maturity duration (years)   5.2           5.2      
                   
                   

    Net investment income of $12.5 million for the second quarter of 2025 increased 13.3% compared to $11.1 million for the second quarter of 2024. The increase in net investment income primarily reflected an increase in average investment yield relative to the prior-year second quarter.

    Net investment gains of $1.5 million for the second quarter of 2025 were primarily related to unrealized gains in the fair value of equity securities held at June 30, 2025, offset partially by net realized investment losses on the sale of available-for-sale fixed-maturity securities. Net investment gains of $0.7 million for the second quarter of 2024 were primarily related to unrealized gains in the fair value of equity securities held at June 30, 2024.

    Our book value per share was $16.62 at June 30, 2025, compared to $15.36 at December 31, 2024, with the increase related to net income as well as $10.7 million of after-tax unrealized gains within our available-for-sale fixed-maturity portfolio during 2025 that increased our book value by $0.31 per share, offset partially by cash dividends declared.

    Definitions of Non-GAAP Financial Measures

    We prepare our consolidated financial statements on the basis of GAAP. Our insurance subsidiaries also prepare financial statements based on statutory accounting principles state insurance regulators prescribe or permit (“SAP”). In addition to using GAAP-based performance measurements, we also utilize certain non-GAAP financial measures that we believe provide value in managing our business and for comparison to the financial results of our peers. These non-GAAP measures are net premiums written, operating income or loss and statutory combined ratio.

    Net premiums written and operating income or loss are non-GAAP financial measures investors in insurance companies commonly use. We define net premiums written as the amount of full-term premiums our insurance subsidiaries record for policies effective within a given period less premiums our insurance subsidiaries cede to reinsurers. We define operating income or loss as net income or loss excluding after-tax net investment gains or losses, after-tax restructuring charges and other significant non-recurring items. Because our calculation of operating income or loss may differ from similar measures other companies use, investors should exercise caution when comparing our measure of operating income or loss to the measure of other companies.

    The following table provides a reconciliation of net premiums earned to net premiums written for the periods indicated:

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands)
                           
    Reconciliation of Net Premiums                      
    Earned to Net Premiums Written                      
    Net premiums earned $ 231,775     $ 234,311       -1.1 %   $ 464,476     $ 462,060       0.5 %
    Change in net unearned premiums   2,038       12,878       -84.2       16,429       36,571       -55.1  
    Net premiums written $ 233,813     $ 247,189       -5.4 %   $ 480,905     $ 498,631       -3.6 %
                           
                           

    The following table provides a reconciliation of net income to operating income for the periods indicated:

      Three Months Ended June 30,   Six Months Ended June 30,
        2025       2024     % Change     2025       2024     % Change
      (dollars in thousands, except per share amounts)
                           
    Reconciliation of Net Income                      
    to Non-GAAP Operating Income                      
    Net income $ 16,866     $ 4,153       306.1 %   $ 42,071     $ 10,108       316.2 %
    Investment gains (after tax)   (1,219 )     (582 )     109.5       (847 )     (2,251 )     -62.4  
    Non-GAAP operating income $ 15,647     $ 3,571       338.2 %   $ 41,224     $ 7,857       424.7 %
                           
    Per Share Reconciliation of Net Income                      
    to Non-GAAP Operating Income                      
    Net income – Class A (diluted) $ 0.46     $ 0.13       253.8 %   $ 1.17     $ 0.31       277.4 %
    Investment gains (after tax)   (0.03 )     (0.02 )     50.0       (0.03 )     (0.07 )     -57.1  
    Non-GAAP operating income – Class A $ 0.43     $ 0.11       290.9 %   $ 1.14     $ 0.24       375.0 %
                           
    Net income – Class B $ 0.43     $ 0.11       290.9 %   $ 1.08     $ 0.28       285.7 %
    Investment gains (after tax)   (0.03 )     (0.01 )     200.0       (0.02 )     (0.06 )     -66.7  
    Non-GAAP operating income – Class B $ 0.40     $ 0.10       300.0 %   $ 1.06     $ 0.22       381.8 %
                           
                           

    The statutory combined ratio is a non-GAAP standard measurement of underwriting profitability that is based upon amounts determined under SAP. The statutory combined ratio is the sum of:

    • the statutory loss ratio, which is the ratio of calendar-year incurred losses and loss expenses, excluding anticipated salvage and subrogation recoveries, to premiums earned;
    • the statutory expense ratio, which is the ratio of expenses incurred for net commissions, premium taxes and underwriting expenses to premiums written; and
      • the statutory dividend ratio, which is the ratio of dividends to holders of workers’ compensation policies to premiums earned.

    The statutory combined ratio does not reflect investment income, federal income taxes or other non-operating income or expense. A statutory combined ratio of less than 100% generally indicates underwriting profitability.

    Dividend Information

    On July 17, 2025, we declared a regular quarterly cash dividend of $0.1825 per share for our Class A common stock and $0.165 per share for our Class B common stock, which are payable on August 15, 2025 to stockholders of record as of the close of business on August 1, 2025.

    Pre-Recorded Webcast

    At approximately 8:30 am ET on Thursday, July 24, 2025, we will make available in the Investors section of our website a pre-recorded audio webcast featuring management commentary on our quarterly results and general business updates. You may listen to the pre-recorded webcast by accessing the link on our website at http://investors.donegalgroup.com. A supplemental investor presentation is also available via our website.

    About the Company

    Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in certain Mid-Atlantic, Midwestern, Southern and Southwestern states. Donegal Mutual Insurance Company and the insurance subsidiaries of Donegal Group Inc. conduct business together as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).

    The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. We are focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing our operations and processes to transform our business, capitalizing on opportunities to grow profitably and providing superior experiences to our agents, policyholders and employees.

    Safe Harbor

    We base all statements contained in this release that are not historic facts on our current expectations. Such statements are forward-looking in nature (as defined in the Private Securities Litigation Reform Act of 1995) and necessarily involve risks and uncertainties. Forward-looking statements we make may be identified by our use of words such as “will,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “seek,” “estimate” and similar expressions. Our actual results could vary materially from our forward-looking statements. The factors that could cause our actual results to vary materially from the forward-looking statements we have previously made include, but are not limited to, adverse litigation and other trends that could increase our loss costs (including social inflation, labor shortages and escalating medical, automobile and property repair costs, including due to tariffs), adverse and catastrophic weather events (including from changing climate conditions), our ability to maintain profitable operations (including our ability to underwrite risks effectively and charge adequate premium rates), the adequacy of the loss and loss expense reserves of our insurance subsidiaries, the availability and successful operation of the information technology systems our insurance subsidiaries utilize, the successful development of new information technology systems to allow our insurance subsidiaries to compete effectively, business and economic conditions in the areas in which we and our insurance subsidiaries operate, interest rates, competition from various insurance and other financial businesses, terrorism, the availability and cost of reinsurance, legal and judicial developments, changes in regulatory requirements, our ability to attract and retain independent insurance agents, changes in our A.M. Best rating and the other risks that we describe from time to time in our filings with the Securities and Exchange Commission. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    Investor Relations Contacts

    Karin Daly, Vice President, The Equity Group Inc.

    Phone: (212) 836-9623
    E-mail: kdaly@theequitygroup.com

    Jeffrey D. Miller, Executive Vice President & Chief Financial Officer
    Phone: (717) 426-1931
    E-mail: investors@donegalgroup.com

    Financial Supplement

    Donegal Group Inc.
    Consolidated Statements of Income
    (unaudited; in thousands, except share data)
           
      Quarter Ended June 30,
        2025       2024  
           
    Net premiums earned $ 231,775     $ 234,311  
    Investment income, net of expenses   12,540       11,068  
    Net investment gains   1,544       737  
    Lease income   76       78  
    Installment payment fees   844       579  
    Other income, net   369       –  
    Total revenues   247,148       246,773  
           
    Net losses and loss expenses   150,917       165,360  
    Amortization of deferred acquisition costs   39,501       40,656  
    Other underwriting expenses   35,150       34,037  
    Policyholder dividends   819       1,187  
    Interest   337       155  
    Other expenses, net   –       365  
    Total expenses   226,724       241,760  
           
    Income before income tax expense   20,424       5,013  
    Income tax expense   3,558       860  
           
    Net income $ 16,866     $ 4,153  
           
    Net income per common share:      
    Class A – basic $ 0.47     $ 0.13  
    Class A – diluted $ 0.46     $ 0.13  
    Class B – basic and diluted $ 0.43     $ 0.11  
           
    Supplementary Financial Analysts’ Data      
           
    Weighted-average number of shares      
    outstanding:      
    Class A – basic   30,678,158       27,844,811  
    Class A – diluted   31,336,862       27,844,903  
    Class B – basic and diluted   5,576,775       5,576,775  
           
    Net premiums written $ 233,813     $ 247,189  
           
    Book value per common share      
    at end of period $ 16.62     $ 14.48  
           
    Annualized operating return on average equity   11.3 %     3.4 %
    Donegal Group Inc.
    Consolidated Statements of Income
    (unaudited; in thousands, except share data)
           
      Six Months Ended June 30,
        2025       2024  
           
    Net premiums earned $ 464,476     $ 462,060  
    Investment income, net of expenses   24,524       22,041  
    Net investment gains   1,073       2,850  
    Lease income   153       159  
    Installment payment fees   1,727       803  
    Total revenues   491,953       487,913  
           
    Net losses and loss expenses   282,950       316,257  
    Amortization of deferred acquisition costs   78,732       80,258  
    Other underwriting expenses   76,345       75,777  
    Policyholder dividends   1,578       2,241  
    Interest   670       309  
    Other expenses, net   93       810  
    Total expenses   440,368       475,652  
           
    Income before income tax expense   51,585       12,261  
    Income tax expense   9,514       2,153  
           
    Net income $ 42,071     $ 10,108  
           
    Net income per common share:      
    Class A – basic $ 1.19     $ 0.31  
    Class A – diluted $ 1.17     $ 0.31  
    Class B – basic and diluted $ 1.08     $ 0.28  
           
    Supplementary Financial Analysts’ Data      
           
    Weighted-average number of shares      
    outstanding:      
    Class A – basic   30,400,944       27,828,062  
    Class A – diluted   30,884,992       27,845,608  
    Class B – basic and diluted   5,576,775       5,576,775  
           
    Net premiums written $ 480,905     $ 498,631  
           
    Book value per common share      
    at end of period $ 16.62     $ 14.48  
           
    Annualized operating return on average equity   14.6 %     4.2 %
    Donegal Group Inc.
    Consolidated Balance Sheets
    (in thousands)
           
      June 30,   December 31,
        2025       2024  
      (unaudited)    
           
    ASSETS
    Investments:      
    Fixed maturities:      
    Held to maturity, at amortized cost $ 737,356     $ 705,714  
    Available for sale, at fair value   626,107       617,892  
    Equity securities, at fair value   41,007       36,808  
    Short-term investments, at cost   24,764       24,558  
    Total investments   1,429,234       1,384,972  
        57,437       52,926  
    Premiums receivable   198,885       181,107  
    Reinsurance receivable   411,125       420,742  
    Deferred policy acquisition costs   76,620       73,347  
    Prepaid reinsurance premiums   182,795       176,162  
    Other assets   51,739       46,776  
    Total assets $ 2,407,835     $ 2,336,032  
           
    LIABILITIES AND STOCKHOLDERS’ EQUITY
    Liabilities:      
    Losses and loss expenses $ 1,117,010     $ 1,120,985  
    Unearned premiums   635,538       612,476  
    Borrowings under lines of credit   35,000       35,000  
    Other liabilities   14,618       21,795  
    Total liabilities   1,802,166       1,790,256  
    Stockholders’ equity:      
    Class A common stock   339       329  
    Class B common stock   56       56  
    Additional paid-in capital   383,546       369,680  
    Accumulated other comprehensive loss   (17,517 )     (28,200 )
    Retained earnings   280,471       245,137  
    Treasury stock   (41,226 )     (41,226 )
    Total stockholders’ equity   605,669       545,776  
    Total liabilities and stockholders’ equity $ 2,407,835     $ 2,336,032  

    The MIL Network –

  • MIL-OSI United Nations: 24 July 2025 Departmental update WHO unveils health and environment scorecards for 194 countries

    Source: World Health Organisation

    The World Health Organization (WHO) has released the 2024 update of its health and environment country scorecards, assessing how countries are managing eight major environmental threats to health across sectors. These threats include air pollution, unsafe water, sanitation and hygiene (WASH), climate change, loss of biodiversity, exposure to chemicals, and radiation, occupational risks, and environmental risks in and around health care facilities. This year’s edition also introduces a new summary score, offering a concise snapshot of how environmental conditions are impacting people’s health.

    WHO’s health and environment country scorecards serve as a valuable tool for guiding national action. They provide detailed data across the eight key areas linking environment, climate change, and health policies, promoting cross-sectoral engagement, and helping governments prioritize evidence-based interventions. 

    “Tackling environmental risks isn’t optional—it’s a prescription for better health, stronger economies, and a safer future. You can’t have healthy people on a sick planet,” said Dr Maria Neira, WHO Director, Department of Environment, Climate Change and Health. “We urge all countries to take bold, coordinated action across sectors to reduce environmental threats. Investing in clean air, safe water, and climate-protective policies is not just good for the planet. It’s essential for the health and future of their people.”

    From among countries, Norway and Canada received the highest scores overall. Among income groups, Argentina scored highest for upper-middle-income countries, Jordan for lower-middle-income, and Malawi for low-income countries. European countries led in regional averages, followed by the Americas, Western Pacific, and Eastern Mediterranean, and other regions.

    In this third round of scorecards, the introduction of the summary score marks a significant step forward in helping countries prioritize action on health and environment. The summary score is designed to condense a wide range of environmental health indicators into a single, accessible measure. Comprising 25 key indicators across environment, climate change, and health, the score enables countries to track progress at national, regional, and global levels—highlighting trends in exposures, health impacts, policy implementation, as well as identifying critical data gaps.

    The scorecards support countries in conducting situation assessments and setting evidence-based priorities for action. While large disparities exist between countries, shaped in part by differing levels of economic resources, every country has an opportunity to strengthen efforts to reduce environmental health risks.

    “The updated scorecards, together with the summary score, now bring new visibility to the links between environment and health at country level,” said Dr Annette Pruess, Unit Head, Department of Environment, Climate Change and Health, WHO. “This is a powerful tool for governments to identify challenges and shape targeted responses.”

    About 25% of the global burden of disease is linked to environmental threats that are largely preventable. By addressing these environmental risk factors through stronger policies, cleaner technologies, and sustainable practices, we can significantly reduce preventable illnesses and deaths—improving health outcomes while protecting our planet.

    MIL OSI United Nations News –

  • MIL-OSI: FirstCash Reports Record Second Quarter Operating Results; Strong Performance Across All Segments Drives Over 30% Year-to-Date EPS Growth; Increases Quarterly Cash Dividend 11%

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, July 24, 2025 (GLOBE NEWSWIRE) — FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), the leading international operator of more than 3,000 retail pawn stores and a leading provider of retail point-of-sale payment solutions, today announced operating results for the three and six month periods ended June 30, 2025. The Company also announced that the Board of Directors declared a quarterly cash dividend of $0.42 per share, an increase of 11% over the previous quarterly dividend, which will be paid in August 2025.

    Mr. Rick Wessel, chief executive officer, stated, “FirstCash is pleased to report outstanding earnings results for the second quarter and year-to-date periods. Pawn demand remains extremely robust, with local currency same-store pawn receivables up 13% in both the U.S. and Latin America, driving strong earnings growth for both segments. AFF posted growth in originations for the second quarter and a segment earnings increase of 46% versus last year. Driven by strong cash flows, the Board of Directors increased the quarterly cash dividend by 11%, which further reflects the strength of our business and long-term earnings prospects.”

    Additionally, the Company expects to complete its previously announced acquisition of H&T Group plc (“H&T”) by the end of the third quarter of 2025, subject to receipt of the required approvals by the Financial Conduct Authority of the United Kingdom (“FCA”) and satisfaction of the other remaining closing conditions. H&T is the largest pawnbroker in the U.K. with 285 locations and would represent FirstCash’s first operations in Europe.

    This release contains adjusted financial measures, which exclude certain non-operating and/or non-cash income and expenses, that are non-GAAP financial measures. Please refer to the descriptions and reconciliations to GAAP of these and other non-GAAP financial measures at the end of this release.

        Three Months Ended June 30,
        As Reported (GAAP)   Adjusted (Non-GAAP)
    In thousands, except per share amounts   2025   2024   2025   2024
    Revenue   $ 830,622   $ 831,012   $ 830,622   $ 831,012
    Net income   $ 59,805   $ 49,073   $ 79,620   $ 61,898
    Diluted earnings per share   $ 1.34   $ 1.08   $ 1.79   $ 1.37
    EBITDA (non-GAAP measure)   $ 132,753   $ 117,651   $ 145,129   $ 121,882
    Weighted-average diluted shares     44,552     45,289     44,552     45,289
        Six Months Ended June 30,
        As Reported (GAAP)   Adjusted (Non-GAAP)
    In thousands, except per share amounts   2025   2024   2025   2024
    Revenue   $ 1,667,045   $ 1,667,382   $ 1,667,045   $ 1,667,382
    Net income   $ 143,396   $ 110,441   $ 172,399   $ 132,087
    Diluted earnings per share   $ 3.21   $ 2.44   $ 3.86   $ 2.91
    EBITDA (non-GAAP measure)   $ 295,714   $ 250,238   $ 308,009   $ 253,474
    Weighted-average diluted shares     44,670     45,338     44,670     45,338
     

    Consolidated Operating Highlights

    • Diluted earnings per share for the second quarter increased 24% over the prior-year quarter on a GAAP basis while adjusted diluted earnings per share increased 31% compared to the prior-year quarter.
    • Year-to-date diluted earnings per share increased 32% over the prior-year period on a GAAP basis and adjusted diluted earnings per share increased 33% compared to the prior-year period.
    • Net income for the second quarter increased 22% over the prior-year quarter on a GAAP basis while adjusted net income increased 29% compared to the prior-year quarter.
    • Year-to-date net income increased 30% over the prior-year period on a GAAP basis and adjusted net income increased 31% compared to the prior-year period.
    • Adjusted EBITDA for the second quarter increased 19% compared to the prior-year quarter. On a year-to-date basis, adjusted EBITDA increased 22% compared to the comparative prior-year period.
    • For the trailing twelve month period ended June 30, 2025 the Company reported:
      • Revenues of $3.4 billion
      • Net income of $292 million on a GAAP basis and adjusted net income of $343 million
      • Adjusted EBITDA of $613 million
      • Operating cash flows of $555 million and adjusted free cash flows (a non-GAAP measure) of $267 million

    Store Base and Platform Growth

    • U.K. Pawn Acquisition Update
      • On July 2, 2025 the shareholders of H&T voted to approve the acquisition.
      • Pending approvals by the FCA and the satisfaction of other closing conditions, the Company expects the transaction to close by the end of the third quarter.
      • The total equity value for the H&T acquisition is approximately £291 million ($396 million USD using GBP/USD exchange rate of 1.36) which the Company intends to fund utilizing its revolving bank credit facility.
      • This combination of FirstCash and H&T will create the largest publicly traded pawn platform in the United States, Latin America and the United Kingdom with more than 3,300 total locations.
    • Other Pawn Store Additions
      • A total of 13 pawn locations were added in the second quarter and 25 stores added year-to-date.
      • Three U.S. stores were acquired in Illinois, bringing the total to 39 locations in that market. Additionally, one new location in Texas was opened during the second quarter. Year-to-date through June 30, 2025, a total of six new locations were opened or acquired in the U.S.
      • There were nine new store openings in Latin America, all of which are located in Mexico. Year-to-date through June 30, 2025, a total of 19 new locations were opened in Latin America.
      • The Company purchased the underlying real estate of 14 U.S. stores during the quarter, bringing the total number of company owned locations to 421 at quarter end.
      • As of June 30, 2025, the Company had 3,027 locations, comprised of 1,194 U.S. locations and 1,833 locations in Latin America. Additionally, two U.S. stores were acquired in July 2025 in separate transactions.
    • Retail POS Payment Solutions (AFF) Merchant Partnerships
      • At June 30, 2025, there were approximately 15,300 active retail and e-commerce merchant partner locations, representing a 19% increase in the number of active merchant locations compared to a year ago. Excluding furniture locations that closed in the prior year due to merchant partner bankruptcies, the number of active doors increased 29%.

    U.S. Pawn Segment Operating Results

    • Segment pre-tax operating income in the second quarter of 2025 was a record $98 million, an increase of $8 million, or 8%, compared to the prior-year quarter. The resulting segment pre-tax operating margin was 24% for the second quarter of 2025, which equaled the prior-year quarter.
    • Year-to-date segment pre-tax operating income increased by $24 million, or 13%, compared to the prior-year period. The pre-tax operating margin was 25% for the year-to-date period, which equaled the prior-year period.
    • Pawn receivables increased 12% in total at June 30, 2025 compared to the prior year, driven by an impressive 13% increase in same-store pawn receivables. On a two-year stacked basis, same-store pawn receivables were up 24%.
    • Pawn loan fees increased 9% for the second quarter both in total and on a same-store basis.
    • Retail merchandise sales increased 9% in the second quarter of 2025 compared to the prior-year quarter, while same-store retail sales increased 7% compared to the prior-year quarter.
    • Retail sales margins increased to 43% for the second quarter compared to 42% in the prior-year quarter. Annualized inventory turnover was 2.8 times for the trailing twelve months ended June 30, 2025, which equaled the inventory turnover during the same prior-year period. Inventories aged greater than one year at June 30, 2025 remained low at 2% of total inventories.

    Latin America Pawn Segment Operating Results

    Note: Certain growth rates below are calculated on a constant or local currency basis, a non-GAAP financial measure defined at the end of this release. The average Mexican peso to U.S. dollar exchange rate for the second quarter of 2025 was 19.5 pesos / dollar, an unfavorable change of 13% versus the comparable prior-year period, and for the six month period ended June 30, 2025 was 20.0 pesos / dollar, an unfavorable change of 17% versus the prior-year period.

    • Despite the 13% decrease in the average Mexican peso exchange rate, second quarter segment pre-tax operating income increased 10% on a U.S. dollar basis and totaled a record $41 million compared to last year. On a local currency basis, segment earnings increased 22% over last year, with resulting segment pre-tax operating margins of 20% for both measures, compared to 18% in the prior year.
    • Year-to-date segment pre-tax operating income totaled $72 million, a 5% increase on a U.S. dollar-basis compared to the prior-year period and an 18% increase on a local currency basis. The year-to-date pre-tax operating margin increased to 19% compared to 17% in the prior-year period.
    • Pawn receivables at June 30, 2025 increased 11% on a U.S. dollar basis while increasing 14% on a constant currency basis compared to the prior year. On a same-store basis, pawn receivables increased 10% on a U.S. dollar basis and increased 13% on a constant currency basis compared to the prior year.
    • While total and same-store pawn loan fees in the second quarter decreased 1% and 2% on a U.S. dollar-basis, respectively, they both increased 11% on a constant currency basis compared to the prior-year quarter.
    • Retail merchandise sales in the second quarter of 2025 increased 1% on a U.S. dollar-basis compared to the prior-year quarter while increasing 14% on a constant currency basis. On a same-store basis, second quarter retail merchandise sales were flat on a U.S. dollar basis while increasing 13% on a constant currency basis compared to the prior-year quarter.
    • Retail margins were 36% for the second quarter of 2025, which equaled the prior-year quarter. Annualized inventory turnover was 4.1 times for the trailing twelve months ended June 30, 2025 compared to 4.3 times in the prior-year period. Inventories aged greater than one year at June 30, 2025 remained extremely low at 1%.

    American First Finance (AFF) – Retail POS Payment Solutions Segment Operating Results

    • Second quarter segment pre-tax operating income totaled $38 million, an increase of 46% compared to the prior-year quarter. The growth in earnings was driven primarily by gross margin improvement and operating expense reductions. Year-to-date segment pre-tax operating income totaled $90 million, a 53% increase over the prior-year period which was $59 million.
    • While gross revenues for the second quarter decreased 14%, primarily due to the American Freight Warehouse (“A-Freight”) and Conn’s Home Plus (“Conn’s”) bankruptcies in late 2024, net revenue increased 2%, driven by growth in revenue from other merchant partners and lower net credit provisioning expenses.
    • Gross transaction volume of lease and loan originations during the second quarter increased 3%, compared to the second quarter of last year. Excluding 2024 originations from A-Freight and Conn’s, second quarter 2025 origination volume increased approximately 34%. For the year-to-date period, overall gross transaction volume decreased 2% over the same prior-year period and was up 29% excluding A-Freight and Conn’s.
    • As a percentage of the total gross transaction volume, the combined lease and loan loss provision expense was 29% for the second quarter of 2025 compared to 31% in the second quarter of 2024. The decrease reflected lower than expected charge-offs on older portfolio vintages which resulted in net reserve releases. The combined allowance as a percentage of combined leased merchandise and finance receivables at June 30, 2025 was 43% compared to 45% a year ago.
    • Operating expenses decreased 31% compared to the prior-year quarter, primarily due to the elimination of certain expenses associated with supporting the A-Freight and Conn’s relationships in the prior-year period along with continued realization of operating synergies, including greater efficiencies in technology and development infrastructure, coupled with other cost reduction initiatives.

    Cash Flow and Liquidity

    • Consolidated operating cash flows for the twelve month period ended June 30, 2025 grew 26% and totaled $555 million compared to $439 million in the same prior-year period, with significant contributions from each of the Company’s three business segments.
    • Adjusted free cash flows increased 21% to $267 million in the twelve month period ended June 30, 2025 compared to $220 million in the same prior-year period.
    • The operating cash flows helped fund significant growth in earning assets, continued investments in the pawn store platform and shareholder returns over the past twelve months with a nominal increase in net debt:
      • Pawn earning assets (pawn receivables and inventories) increased $99 million compared to last year.
      • A total of 15 pawn stores were acquired for a combined purchase price of $44 million.
      • 42 new pawn stores were added with a combined investment of $16 million in fixed assets and working capital.
      • Real estate purchases totaled $93 million as the Company purchased the underlying real estate at 60 of its existing pawn stores, bringing the number of Company-owned properties to 421 locations.
      • Shareholder returns comprised of stock repurchases and cash dividends of $127 million.
    • Net debt at June 30, 2025 was $1.6 billion, of which $1.5 billion is fixed rate debt with favorable interest rates ranging from 4.625% to 6.875% and maturity dates that do not begin until 2028 and continue into 2032. The outstanding balance under the Company’s $700 million revolving line of credit totaled $152 million at June 30, 2025.
    • Based on trailing twelve month results, the Company’s net debt to adjusted EBITDA ratio improved to 2.6x at June 30, 2025.

    Shareholder Returns

    • The Board of Directors declared a $0.42 per share third quarter cash dividend, which will be paid on August 29, 2025 to stockholders of record as of August 15, 2025. This represents an 11% increase over the previous quarterly dividend.
    • On an annualized basis, the dividend is now $1.68 per share, also representing an 11% increase over the previous annualized dividend of $1.52 per share. Any future dividends are subject to approval by the Company’s Board of Directors.
    • Over the past twelve months, the Company has repurchased 525,000 shares of common stock at a total cost of $60 million and paid out $68 million in cash dividends, representing a payout ratio of approximately 44% of net income over the same period.
    • The Company has $55 million available under the $200 million share repurchase program authorized in July 2023. Future share repurchases are subject to expected liquidity, acquisitions and other investment opportunities, debt covenant restrictions, market conditions and other relevant factors.
    • The Company generated a 14% return on equity and a 7% return on assets for the twelve months ended June 30, 2025. Using adjusted net income for the twelve months ended June 30, 2025, the adjusted return on equity was 17% while the adjusted return on assets was 8%.

    2025 Outlook

    Driven by the strong first half results and continuing customer demand for pawn loans, the outlook for 2025 remains highly positive, with expected year-over-year growth in income driven by the continued growth in earning asset balances coupled with store additions. While the H&T acquisition is now anticipated to close by the end of the third quarter of 2025, the estimates provided below do not yet include revenue and contributions from H&T. Anticipated conditions and trends for the remainder of 2025 include the following:

    Pawn Operations:

    • Pawn operations are expected to remain the primary earnings driver in 2025 as the Company expects segment income from the combined U.S. and Latin America pawn segments to be over 80% of total segment level pre-tax income for the full year.
    • The Company expects further growth in the pawn store base in 2025 through a combination of new store openings and potential small acquisitions.

    U.S. Pawn

    • Based on strong first half results and expected store additions, the outlook for anticipated revenue growth and margins has been increased for all metrics.
    • Same-store pawn loans at June 30, 2025 were up 13% compared to a year ago, with July balances to date up similarly. Given these trends, the outlook for pawn fee growth is now expected to be in a range of 10% to 12% for the full year versus the prior expectation of 9% to 11% for the full year.
    • Retail sales are expected to grow in a high single digit range in 2025 versus prior expectations of mid single digits. Retail sales margins are now targeted at the upper end of the 41% to 42% guidance range.

    Latin America Pawn

    • U.S. dollar-reported first half results for Latin America in 2025 were negatively impacted by the lower exchange rate for the Mexican peso during the first half of this year compared to last year. With the recent favorable movement in the peso and the better than expected growth in the underlying business, the Company is increasing its full year revenue outlook for the Latin America pawn segment.
    • Same-store pawn receivables at June 30, 2025 were up 10% on a U.S. dollar basis and up 13% on a constant currency basis, with July balances to date up similarly. Full year pawn fee growth is now expected to increase in a range of 10% to 12% on a local currency basis and is now projected to be flat to up slightly on a U.S. dollar basis versus prior expectations of flat to down slightly on a U.S. dollar basis.
    • Retail sales in Latin America are also expected to track similarly to pawn fees in 2025 with consistent retail margins.

    Retail POS Payment Solutions (AFF) Operations:

    • The forecast for full year origination volume for 2025 is expected to be relatively consistent with the 2024 volume. Excluding 2024 originations from Conn’s and A-Freight, origination volumes are expected to increase in a range of 20% to 25% over 2024, reflecting continued diversification outside the furniture vertical.
    • The outlook for full year net revenues has improved, with the revised forecast for net revenues now expected to decline only 6% to 8% compared to last year versus the previously forecasted decline of 8% to 12%.
    • The net lease and loan charge-off rates for the second half of 2025 are expected to remain consistent with the charge-off rates in the second half of last year. Quarterly operating expenses for the balance of 2025 are expected to remain generally consistent with the second quarter run rate.

    Tax Rates and Currency:

    • The full year 2025 effective income tax rate under current tax codes in the U.S. and Latin America is expected to range from 24.5% to 25.5%.
    • Each full point change in the exchange rate of the Mexican peso is projected to have an annual earnings impact of approximately $0.10 per share.

    Additional Commentary and Analysis

    Mr. Wessel further commented on FirstCash’s second quarter results and the outlook for the remainder of 2025, “Operating performance across all business segments continues to be incredibly strong, driving year-to-date earnings per share growth of 32% on a GAAP basis and a 33% increase on an adjusted basis. FirstCash also achieved another significant earnings milestone this quarter with adjusted EBITDA for the trailing twelve months exceeding $600 million for the first time in Company history.

    “The U.S. pawn segment has now recorded eight consecutive quarters of double-digit growth in same-store receivables with continuing demand remaining strong thus far in July. At the same time, we remain disciplined in managing loan-to-value ratios as evidenced by the improved U.S. retail margins in the second quarter. The demand for value priced merchandise remains strong as well with same-store retail sales up 7% for the most recent quarter.

    “In Latin America, we have seen tremendous growth in pawn receivables over the last three quarters, including a 13% increase in same-store pawn receivables in the second quarter. This trend continued to accelerate, with same-store pawn loan originations in Mexico up over 20% over the last thirty days. Our outlook for Latin America is further enhanced by the improved exchange rate for the Mexican peso since the last quarter, which has reduced the previously anticipated currency headwinds and improved our full year outlook for the region.

    “Solid performance at AFF further bolstered second quarter and year-to-date operating results for our Retail POS Payment Solutions segment. AFF now has over 15,000 active doors, an increase of 19% over a year ago. Coupled with a 12% increase in same-door originations, AFF fully offset the impact of the loss of two significant merchant partners to bankruptcy last year and realized an overall total increase in originations in the second quarter. Growth continues to be particularly robust in verticals such as elective medical and automotive services. Driven by the solid revenue performance and significant expense savings, profitability for AFF has been especially strong in the first half of the year.

    “Looking ahead, we continue to progress toward the closing of the H&T acquisition. H&T represents a highly complementary strategic fit as the U.K.’s largest pawnbroker, operating with a network of 285 stores, which will expand FirstCash’s geographic footprint into a new and attractive market further providing the Company with enhanced scale, operating efficiencies and long-term growth opportunities. We continue to believe in the financial and strategic rationale for expanding our international operations as part of our long-term growth strategy.

    “Lastly, based on strong earnings results, robust operating cash flows and the strength of its balance sheet, FirstCash continues to make significant investments in new stores, acquisitions and shareholder returns. To that end, we are again pleased to announce an increased quarterly cash dividend to be paid in August which is expected to provide an annualized payout of $1.68 per share further augmenting shareholder returns” concluded Mr. Wessel.

    About FirstCash

    FirstCash is the leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash’s more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash’s pawn segments in the U.S. and Latin America currently account for approximately 80% of annualized segment earnings, with the remainder provided by its wholly owned subsidiary, AFF, which provides lease-to-own and retail finance payment solutions for consumer goods and services.

    FirstCash is a component company in both the Standard & Poor’s MidCap 400 Index® and the Russell 2000 Index®. FirstCash’s common stock (ticker symbol “FCFS”) is traded on the Nasdaq, the creator of the world’s first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash’s websites located at http://www.firstcash.com and http://www.americanfirstfinance.com.

    Forward-Looking Information

    This release contains forward-looking statements about the business, financial condition, outlook and prospects of FirstCash Holdings, Inc. and its wholly owned subsidiaries (together, the “Company”), including the Company’s outlook for 2025 and the Company’s previously announced H&T acquisition. Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of forward-looking terminology such as “outlook,” “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations, outlook and future plans. Forward-looking statements can also be identified by the fact these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties.

    While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Such factors and risks may include, without limitation, risks related to the extensive regulatory environment in which the Company operates, including uncertainty involving the current regulatory environment under the current presidential administration; risks associated with the legal and regulatory proceedings that the Company is a party to or may become a party to in the future; risks related to the Company’s acquisitions, including the failure of the Company’s acquisitions to deliver the estimated value and benefits expected by the Company and the ability of the Company to continue to identify and consummate acquisitions on favorable terms, if at all; risks related to the H&T acquisition, in particular, the ability to obtain the necessary regulatory approvals for the H&T acquisition from the FCA and to satisfy the other closing conditions in the expected timeframe, if at all, and the ability to achieve the anticipated benefits from the H&T acquisition; potential changes in consumer behavior and shopping patterns which could impact demand for the Company’s pawn loan, retail, lease-to-own (“LTO”) and retail finance products; labor shortages and increased labor costs; a deterioration in the economic conditions in the United States and Latin America, including as a result of inflation, elevated interest rates and trade policy, which potentially could have an impact on discretionary consumer spending and demand for the Company’s products; currency fluctuations, primarily involving the Mexican peso; competition the Company faces from other retailers and providers of retail payment solutions; the ability of the Company to successfully execute on its business strategies; contraction in sales activity at merchant partners of the Company’s retail point-of-sale (“POS”) payment solutions business; impact of store closures, financial difficulties or even bankruptcies at the merchant partners of the Company’s retail POS payment solutions business; the ability of the Company’s retail POS payment solutions business to continue to grow its base of merchant partners, including those outside of the furniture vertical; and other risks discussed and described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), including the risks described in Part 1, Item 1A, “Risk Factors” thereof, and other reports filed with the SEC. Many of these risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. The forward-looking statements contained in this release speak only as of the date of this release, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    FIRSTCASH HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (unaudited, in thousands)
     
      Three Months Ended   Six Months Ended
      June 30,   June 30,
        2025       2024       2025       2024  
    Revenue:              
    Retail merchandise sales $ 385,125     $ 363,463     $ 756,181     $ 730,284  
    Pawn loan fees   190,822       181,046       382,693       360,581  
    Leased merchandise income   139,784       194,570       296,702       400,241  
    Interest and fees on finance receivables   76,075       56,799       149,488       114,186  
    Wholesale scrap jewelry sales   38,816       35,134       81,981       62,090  
    Total revenue   830,622       831,012       1,667,045       1,667,382  
                   
    Cost of revenue:              
    Cost of retail merchandise sold   230,326       218,147       454,450       441,676  
    Depreciation of leased merchandise   78,272       110,157       167,091       230,441  
    Provision for lease losses   32,543       47,653       60,105       90,663  
    Provision for loan losses   41,761       31,116       78,121       61,534  
    Cost of wholesale scrap jewelry sold   34,904       28,542       70,259       51,831  
    Total cost of revenue   417,806       435,615       830,026       876,145  
                   
    Net revenue   412,816       395,397       837,019       791,237  
                   
    Expenses and other income:              
    Operating expenses   222,493       228,369       437,079       449,505  
    Administrative expenses   59,263       46,602       107,786       90,620  
    Depreciation and amortization   25,864       26,547       51,366       52,574  
    Interest expense   26,337       25,187       53,808       50,605  
    Interest income   (527 )     (261 )     (1,756 )     (1,004 )
    (Gain) loss on foreign exchange   (1,271 )     1,437       (1,285 )     1,251  
    Merger and acquisition expenses   2,777       1,364       3,239       1,961  
    Other income, net   (3,199 )     (26 )     (5,514 )     (2,338 )
    Total expenses and other income   331,737       329,219       644,723       643,174  
                   
    Income before income taxes   81,079       66,178       192,296       148,063  
                   
    Provision for income taxes   21,274       17,105       48,900       37,622  
                   
    Net income $ 59,805     $ 49,073     $ 143,396     $ 110,441  
     
    Certain amounts in the consolidated statement of income for the three and six months ended June 30, 2024 have been reclassified in order to conform to the 2025 presentation.
    FIRSTCASH HOLDINGS, INC.
    CONSOLIDATED BALANCE SHEETS
    (unaudited, in thousands)
     
      June 30,   December 31,
        2025       2024       2024  
    ASSETS          
    Cash and cash equivalents $ 101,467     $ 113,693     $ 175,095  
    Accounts receivable, net   76,062       72,158       73,325  
    Pawn loans   550,718       491,731       517,867  
    Finance receivables, net   154,518       105,401       147,501  
    Inventories   355,733       315,424       334,580  
    Leased merchandise, net   100,689       142,935       128,437  
    Prepaid expenses and other current assets   35,667       31,923       26,943  
    Total current assets   1,374,854       1,273,265       1,403,748  
               
    Property and equipment, net   750,862       661,005       717,916  
    Operating lease right of use asset   342,859       324,651       324,646  
    Goodwill   1,826,184       1,794,957       1,787,172  
    Intangible assets, net   204,643       253,910       228,858  
    Other assets   9,805       9,606       9,934  
    Deferred tax assets, net   5,042       5,014       4,712  
    Total assets $ 4,514,249     $ 4,322,408     $ 4,476,986  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Accounts payable and accrued liabilities $ 145,035     $ 141,314     $ 171,540  
    Customer deposits and prepayments   80,848       76,452       72,703  
    Lease liability, current   100,845       97,809       95,161  
    Total current liabilities   326,728       315,575       339,404  
               
    Revolving unsecured credit facilities   152,000       150,000       198,000  
    Senior unsecured notes   1,532,865       1,529,870       1,531,346  
    Deferred tax liabilities, net   125,290       129,060       128,574  
    Lease liability, non-current   237,198       219,454       225,498  
    Total liabilities   2,374,081       2,343,959       2,422,822  
               
    Stockholders’ equity:          
    Common stock   575       575       575  
    Additional paid-in capital   1,760,179       1,760,986       1,767,569  
    Retained earnings   1,520,677       1,296,721       1,411,083  
    Accumulated other comprehensive loss   (96,267 )     (84,366 )     (129,596 )
    Common stock held in treasury, at cost   (1,044,996 )     (995,467 )     (995,467 )
    Total stockholders’ equity   2,140,168       1,978,449       2,054,164  
    Total liabilities and stockholders’ equity $ 4,514,249     $ 4,322,408     $ 4,476,986  
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS
    (UNAUDITED)
     

    The Company organizes its operations into three reportable segments as follows:

    • U.S. pawn
    • Latin America pawn
    • Retail POS payment solutions (AFF)

    Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, gain on foreign exchange, merger and acquisition expenses, and other income, net, are presented on a consolidated basis and are not allocated to the segments. Intersegment transactions related to AFF’s LTO payment solution product offered in U.S. pawn stores are eliminated from consolidated totals.

    U.S. Pawn Operating Results and Margins (dollars in thousands)

      Three Months Ended        
      June 30,    
      2025
    		   2024   Increase
    Revenue:                  
    Retail merchandise sales $ 249,918     $ 230,093       9 %  
    Pawn loan fees   130,948       120,332       9 %  
    Wholesale scrap jewelry sales   28,740       26,311       9 %  
    Total revenue   409,606       376,736       9 %  
                       
    Cost of revenue:                  
    Cost of retail merchandise sold   143,149       132,449       8 %  
    Cost of wholesale scrap jewelry sold   26,265       21,269       23 %  
    Total cost of revenue   169,414       153,718       10 %  
                       
    Net revenue   240,192       223,018       8 %  
                       
    Segment expenses:                  
    Operating expenses   133,815       125,192       7 %  
    Depreciation and amortization   8,091       7,231       12 %  
    Total segment expenses   141,906       132,423       7 %  
                       
    Segment pre-tax operating income $ 98,286     $ 90,595       8 %  
                       
    Operating metrics:                  
    Retail merchandise sales margin 43 %   42 %        
    Net revenue margin 59 %   59 %        
    Segment pre-tax operating margin 24 %   24 %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    U.S. Pawn Operating Results and Margins (dollars in thousands)

      Six Months Ended        
      June 30,    
      2025    2024    Increase
    Revenue:                  
    Retail merchandise sales $ 501,143     $ 467,083       7 %  
    Pawn loan fees   268,896       243,306       11 %  
    Wholesale scrap jewelry sales   62,232       44,037       41 %  
    Total revenue   832,271       754,426       10 %  
                       
    Cost of revenue:                  
    Cost of retail merchandise sold   288,907       272,363       6 %  
    Cost of wholesale scrap jewelry sold   53,489       36,535       46 %  
    Total cost of revenue   342,396       308,898       11 %  
                       
    Net revenue   489,875       445,528       10 %  
                       
    Segment expenses:                  
    Operating expenses   262,766       244,087       8 %  
    Depreciation and amortization   15,691       14,244       10 %  
    Total segment expenses   278,457       258,331       8 %  
                       
    Segment pre-tax operating income $ 211,418     $ 187,197       13 %  
                       
    Operating metrics:                  
    Retail merchandise sales margin 42 %   42 %        
    Net revenue margin 59 %   59 %        
    Segment pre-tax operating margin 25 %   25 %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    U.S. Pawn Earning Assets and Portfolio Metrics (dollars in thousands, except as otherwise noted)

      As of June 30,    
      2025
    		   2024   Increase
    Earning assets:                  
    Pawn loans $ 400,143     $ 356,342       12 %  
    Inventories   252,885       223,428       13 %  
      $ 653,028     $ 579,770       13 %  
                       
    Average outstanding pawn loan amount (in ones) $ 286     $ 260       10 %  
                       
    Composition of pawn collateral:                  
    General merchandise 28 %   30 %        
    Jewelry 72 %   70 %        
      100 %   100 %        
                       
    Composition of inventories:                  
    General merchandise 39 %   43 %        
    Jewelry 61 %   57 %        
      100 %   100 %        
                       
    Percentage of inventory aged greater than one year 2 %   1 %        
                       
    Inventory turns (trailing twelve months cost of merchandise sales divided by average inventories) 2.8 times   2.8 times        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Constant currency results are non-GAAP financial measures, which exclude the effects of foreign currency translation and are calculated by translating current-year results at prior-year average exchange rates. See the “Constant Currency Results” section below for additional discussion of constant currency operating results.

    Latin America Pawn Operating Results and Margins (dollars in thousands)

                          Constant Currency Basis
                          Three Months        
                    Ended        
        Three Months Ended           June 30,   Increase /
        June 30,   Increase /     2025     (Decrease)
          2025         2024     (Decrease)   (Non-GAAP)   (Non-GAAP)
    Revenue:                              
    Retail merchandise sales   $ 135,956       $ 134,445       1   %   $ 153,234       14   %
    Pawn loan fees     59,874         60,714       (1 ) %     67,497       11   %
    Wholesale scrap jewelry sales     10,076         8,823       14   %     10,076       14   %
    Total revenue     205,906         203,982       1   %     230,807       13   %
                                   
    Cost of revenue:                              
    Cost of retail merchandise sold     87,579         86,276       2   %     98,641       14   %
    Cost of wholesale scrap jewelry sold     8,639         7,273       19   %     9,811       35   %
    Total cost of revenue     96,218         93,549       3   %     108,452       16   %
                                   
    Net revenue     109,688         110,433       (1 ) %     122,355       11   %
                                   
    Segment expenses:                              
    Operating expenses     64,414         67,902       (5 ) %     72,340       7   %
    Depreciation and amortization     4,294         5,418       (21 ) %     4,804       (11 ) %
    Total segment expenses     68,708         73,320       (6 ) %     77,144       5   %
                                   
    Segment pre-tax operating income   $ 40,980       $ 37,113       10   %   $ 45,211       22   %
                                   
    Operating metrics:                              
    Retail merchandise sales margin 36  %   36  %         36  %        
    Net revenue margin 53  %   54  %         53  %        
    Segment pre-tax operating margin 20  %   18  %         20  %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Latin America Pawn Operating Results and Margins (dollars in thousands)

                          Constant Currency Basis
                          Six Months        
                    Ended        
        Six Months Ended           June 30,   Increase /
        June 30,   Increase /     2025     (Decrease)
          2025         2024     (Decrease)   (Non-GAAP)   (Non-GAAP)
    Revenue:                              
    Retail merchandise sales   $ 256,488       $ 265,294       (3 ) %   $ 296,887       12   %
    Pawn loan fees     113,797         117,275       (3 ) %     131,755       12   %
    Wholesale scrap jewelry sales     19,749         18,053       9   %     19,749       9   %
    Total revenue     390,034         400,622       (3 ) %     448,391       12   %
                                   
    Cost of revenue:                              
    Cost of retail merchandise sold     166,318         170,459       (2 ) %     192,333       13   %
    Cost of wholesale scrap jewelry sold     16,770         15,296       10   %     19,491       27   %
    Total cost of revenue     183,088         185,755       (1 ) %     211,824       14   %
                                   
    Net revenue     206,946         214,867       (4 ) %     236,567       10   %
                                   
    Segment expenses:                              
    Operating expenses     125,831         135,327       (7 ) %     144,841       7   %
    Depreciation and amortization     8,730         10,523       (17 ) %     10,008       (5 ) %
    Total segment expenses     134,561         145,850       (8 ) %     154,849       6   %
                                   
    Segment pre-tax operating income   $ 72,385       $ 69,017       5   %   $ 81,718       18   %
                                   
    Operating metrics:                              
    Retail merchandise sales margin 35  %   36  %         35  %        
    Net revenue margin 53  %   54  %         53  %        
    Segment pre-tax operating margin 19  %   17  %         18  %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Latin America Pawn Earning Assets and Portfolio Metrics (dollars in thousands, except as otherwise noted)

                          Constant Currency Basis
                          As of        
                          June 30,    
      As of June 30,       2025   Increase
      2025   2024   Increase   (Non-GAAP)   (Non-GAAP)
    Earning assets:                              
    Pawn loans $ 150,575     $ 135,389       11 %     $ 154,466     14 %  
    Inventories   102,848       91,996       12 %       105,501     15 %  
      $ 253,423     $ 227,385       11 %     $ 259,967     14 %  
                                   
    Average outstanding pawn loan amount (in ones) $ 96     $ 89       8 %     $ 98     10 %  
                                   
    Composition of pawn collateral:                              
    General merchandise 57 %   63 %                    
    Jewelry 43 %   37 %                    
      100 %   100 %                    
                                   
    Composition of inventories:                              
    General merchandise 59 %   69 %                    
    Jewelry 41 %   31 %                    
      100 %   100 %                    
                                   
    Percentage of inventory aged greater than one year 1 %   1 %                    
                                   
    Inventory turns (trailing twelve months cost of merchandise sales divided by average inventories) 4.1 times   4.3 times                    
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Retail POS Payment Solutions Operating Results (dollars in thousands)

      Three Months Ended        
      June 30,   Increase /
      2025   2024   (Decrease)
    Revenue:              
    Leased merchandise income $ 139,784   $ 194,570     (28 ) %
    Interest and fees on finance receivables   76,075     56,799     34   %
    Total revenue   215,859     251,369     (14 ) %
                   
    Cost of revenue:              
    Depreciation of leased merchandise   78,529     110,567     (29 ) %
    Provision for lease losses   32,667     47,824     (32 ) %
    Provision for loan losses   41,761     31,116     34   %
    Total cost of revenue   152,957     189,507     (19 ) %
                   
    Net revenue   62,902     61,862     2   %
                   
    Segment expenses:              
    Operating expenses   24,264     35,275     (31 ) %
    Depreciation and amortization   699     678     3   %
    Total segment expenses   24,963     35,953     (31 ) %
                   
    Segment pre-tax operating income $ 37,939   $ 25,909     46   %
      Six Months Ended        
      June 30,   Increase /
      2025   2024   (Decrease)
    Revenue:              
    Leased merchandise income $ 296,702   $ 400,241     (26 ) %
    Interest and fees on finance receivables   149,488     114,186     31   %
    Total revenue   446,190     514,427     (13 ) %
                   
    Cost of revenue:              
    Depreciation of leased merchandise   167,672     231,341     (28 ) %
    Provision for lease losses   60,271     91,004     (34 ) %
    Provision for loan losses   78,121     61,534     27   %
    Total cost of revenue   306,064     383,879     (20 ) %
                   
    Net revenue   140,126     130,548     7   %
                   
    Segment expenses:              
    Operating expenses   48,482     70,091     (31 ) %
    Depreciation and amortization   1,404     1,399     —   %
    Total segment expenses   49,886     71,490     (30 ) %
                   
    Segment pre-tax operating income $ 90,240   $ 59,058     53   %
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Retail POS Payment Solutions Gross Transaction Volumes (dollars in thousands)

      Three Months Ended           Six Months Ended        
      June 30,   Increase /   June 30,   Increase /
      2025   2024   (Decrease)   2025   2024   (Decrease)
    Leased merchandise $ 110,516   $ 146,778     (25 ) %   $ 204,822   $ 300,899     (32 ) %
    Finance receivables   149,943     105,258     42   %     291,205     207,422     40   %
    Total gross transaction volume $ 260,459   $ 252,036     3   %   $ 496,027   $ 508,321     (2 ) %
     

    Retail POS Payment Solutions Earning Assets (dollars in thousands)

      As of June 30,   Increase /
        2025       2024     (Decrease)
    Leased merchandise, net:              
    Leased merchandise, before allowance for lease losses $ 170,824     $ 246,457       (31 ) %
    Less allowance for lease losses   (69,972 )     (103,301 )     (32 ) %
    Leased merchandise, net $ 100,852     $ 143,156       (30 ) %
                   
    Finance receivables, net:              
    Finance receivables, before allowance for loan losses $ 277,392     $ 205,362       35   %
    Less allowance for loan losses   (122,874 )     (99,961 )     23   %
    Finance receivables, net $ 154,518     $ 105,401       47   %
     

    Portfolio Metrics

      Three Months Ended   Six Months Ended
      June 30,   June 30,
        2025       2024       2025       2024  
    Leased merchandise portfolio metrics:                      
    Provision rate (1) 30 %   33 %   29 %   30 %
    Average monthly net charge-off rate (2), (3) 6.2 %   5.4 %   6.2 %   5.4 %
    Delinquency rate (4) 23.2 %   23.0 %   23.2 %   23.0 %
                           
    Finance receivables portfolio metrics:                      
    Provision rate (1) 28 %   30 %   27 %   30 %
    Average monthly net charge-off rate (2) 4.6 %   4.5 %   4.4 %   4.7 %
    Delinquency rate (4) 20.6 %   20.0 %   20.6 %   20.0 %

    (1) Calculated as provision for lease or loan losses as a percentage of the respective gross transaction volume originated.
    (2) Calculated as charge-offs, net of recoveries, as a percentage of the respective average earning asset balance before allowance for lease or loan losses.
    (3) The increase in leased merchandised net charge-off rate for 2025 is the expected result given reduced originations of new leases in 2025.
    (4) Calculated as the percentage of the respective contractual earning asset balance owed that is 1 to 89 days past due (the Company charges off leases and finance receivables when they are 90 days or more contractually past due).

    FIRSTCASH HOLDINGS, INC.
    PAWN STORE LOCATIONS AND MERCHANT PARTNER LOCATIONS
     

    Pawn Operations

    As of June 30, 2025, the Company operated 3,027 pawn store locations composed of 1,194 stores in 29 U.S. states and the District of Columbia, 1,731 stores in 32 states in Mexico, 72 stores in Guatemala, 18 stores in El Salvador and 12 stores in Colombia.

    The following tables detail pawn store count activity for the three and six months ended June 30, 2025:

      Three Months Ended June 30, 2025
      U.S.   Latin America   Total
    Total locations, beginning of period 1,197     1,826     3,023  
    New locations opened 1     9     10  
    Locations acquired 3     —     3  
    Consolidation of existing pawn locations (1) (7 )   (2 )   (9 )
    Total locations, end of period 1,194     1,833     3,027  
               
               
      Six Months Ended June 30, 2025
      U.S.   Latin America   Total
    Total locations, beginning of period 1,200     1,826     3,026  
    New locations opened 2     19     21  
    Locations acquired 4     —     4  
    Consolidation of existing pawn locations (1) (12 )   (12 )   (24 )
    Total locations, end of period 1,194     1,833     3,027  

    (1) Store consolidations were primarily acquired locations which have been combined with overlapping stores and for which the Company expects to maintain a significant portion of the acquired customer base in the consolidated location.

    Retail POS Payment Solutions

    As of June 30, 2025, AFF provided LTO and retail POS payment solutions for consumer goods and services through a network of approximately 15,300 active retail merchant partner locations. This compares to the active door count of approximately 12,800 locations at June 30, 2024.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES
    (UNAUDITED)
     

    The Company uses certain financial calculations such as adjusted net income, adjusted diluted earnings per share, EBITDA, adjusted EBITDA, free cash flow, adjusted free cash flow, adjusted return on equity, adjusted return on assets and constant currency results as factors in the measurement and evaluation of the Company’s operating performance and period-over-period growth. The Company derives these financial calculations on the basis of methodologies other than generally accepted accounting principles (“GAAP”), primarily by excluding from a comparable GAAP measure certain items the Company does not consider to be representative of its actual operating performance. These financial calculations are “non-GAAP financial measures” as defined under the SEC rules. The Company uses these non-GAAP financial measures in operating its business because management believes they are less susceptible to variances in actual operating performance that can result from the excluded items, other infrequent charges and currency fluctuations. The Company presents these financial measures to investors because management believes they are useful to investors in evaluating the primary factors that drive the Company’s core operating performance and provide greater transparency into the Company’s results of operations. However, items that are excluded and other adjustments and assumptions that are made in calculating these non-GAAP financial measures are significant components in understanding and assessing the Company’s financial performance. These non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, the Company’s GAAP financial measures. Further, because these non-GAAP financial measures are not determined in accordance with GAAP, and are thus susceptible to varying calculations, the non-GAAP financial measures, as presented, may not be comparable to other similarly-titled measures of other companies.

    The Company has adjusted the applicable financial calculations to exclude merger and acquisition expenses, amortization of acquired AFF intangible assets, the Consumer Financial Protection Bureau (“CFPB”) litigation settlement and certain other income and expenses. The Company does not consider these items to be related to the organic operations of the Company’s businesses or its continuing operations and are generally not relevant to assessing or estimating the long-term performance of the Company. In addition, excluding these items allows for more accurate comparisons of the financial results to prior periods. Merger and acquisition expenses include incremental costs directly associated with merger and acquisition activities, including professional fees, legal expenses, severance, retention and other employee-related costs, contract breakage costs and costs related to the consolidation of technology systems and corporate facilities, among others.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Adjusted Net Income and Adjusted Diluted Earnings Per Share

    Management believes the presentation of adjusted net income and adjusted diluted earnings per share provides investors with greater transparency and provides a more complete understanding of the Company’s financial performance and prospects for the future by excluding items that management believes are non-operating in nature and are not representative of the Company’s core operating performance. In addition, management believes the adjustments shown below are useful to investors in order to allow them to compare the Company’s financial results for the current periods presented with the prior periods presented.

    The following tables provide a reconciliation between net income and diluted earnings per share calculated in accordance with GAAP to adjusted net income and adjusted diluted earnings per share, which are shown net of tax (in thousands, except per share amounts):

                      Trailing Twelve
      Three Months Ended   Six Months Ended   Months Ended
      June 30,   June 30,   June 30,
        2025       2024     2025       2024     2025     2024  
      In Thousands   In Thousands   In Thousands   In Thousands   In Thousands   In Thousands
    Net income, as reported $ 59,805     $ 49,073   $ 143,396     $ 110,441   $ 291,770   $ 237,174  
    Adjustments, net of tax:                      
    Merger and acquisition expenses   2,134       1,047     2,488       1,504     2,690     7,380  
    AFF purchase accounting and other adjustments   9,258       9,572     18,516       19,145     37,660     51,497  
    CFPB litigation settlement   9,390       —     9,390       —     9,390     —  
    Other (income) expenses, net   (967 )     2,206     (1,391 )     997     1,482     (343 )
    Adjusted net income $ 79,620     $ 61,898   $ 172,399     $ 132,087   $ 342,992   $ 295,708  
      Three Months Ended   Six Months Ended
      June 30,   June 30,
        2025     2024   2025   2024
      Per Share   Per Share   Per Share   Per Share
    Diluted earnings per share, as reported $ 1.34     $ 1.08   $ 3.21     $ 2.44
    Adjustments, net of tax:              
    Merger and acquisition expenses   0.05       0.03     0.06       0.03
    AFF purchase accounting and other adjustments   0.21       0.21     0.41       0.42
    CFPB litigation settlement   0.21       —     0.21       —
    Other (income) expenses, net   (0.02 )     0.05     (0.03 )     0.02
    Adjusted diluted earnings per share $ 1.79     $ 1.37   $ 3.86     $ 2.91
    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA

    The Company defines EBITDA as net income before income taxes, depreciation and amortization, interest expense and interest income and adjusted EBITDA as EBITDA adjusted for certain items, as listed below, that management considers to be non-operating in nature and not representative of its actual operating performance. The Company believes EBITDA and adjusted EBITDA are commonly used by investors to assess a company’s financial performance, and adjusted EBITDA is used as a starting point in the calculation of the consolidated total debt ratio as defined in the Company’s senior unsecured notes. The following table provides a reconciliation of net income to EBITDA and adjusted EBITDA (in thousands):

                                Trailing Twelve
        Three Months Ended   Six Months Ended   Months Ended
        June 30,   June 30,   June 30,
        2025   2024   2025   2024   2025   2024
    Net income   $ 59,805     $ 49,073     $ 143,396     $ 110,441     $ 291,770     $ 237,174  
    Income taxes     21,274       17,105       48,900       37,622       95,239       80,001  
    Depreciation and amortization     25,864       26,547       51,366       52,574       103,733       107,574  
    Interest expense     26,337       25,187       53,808       50,605       108,429       101,880  
    Interest income     (527 )     (261 )     (1,756 )     (1,004 )     (2,687 )     (1,548 )
    EBITDA     132,753       117,651       295,714       250,238       596,484       525,081  
    Adjustments:                                    
    Merger and acquisition expenses     2,777       1,364       3,239       1,961       3,506       9,600  
    AFF purchase accounting and other adjustments (1)     —       —       —       —       —       13,968  
    CFPB litigation settlement     11,000       —       11,000       —       11,000       —  
    Other (income) expenses, net     (1,401 )     2,867       (1,944 )     1,275       1,982       (486 )
    Adjusted EBITDA   $ 145,129     $ 121,882     $ 308,009     $ 253,474     $ 612,972     $ 548,163  

    (1) For the twelve months ended June 30, 2024, amount represents other non-recurring costs included in administrative expenses related to a discontinued finance product.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Free Cash Flow and Adjusted Free Cash Flow

    For purposes of its internal liquidity assessments, the Company considers free cash flow and adjusted free cash flow. The Company defines free cash flow as cash flow from operating activities less purchases of furniture, fixtures, equipment and improvements and net fundings/repayments of pawn loan and finance receivables, which are considered to be operating in nature by the Company but are included in cash flow from investing activities. Adjusted free cash flow is defined as free cash flow adjusted for merger and acquisition expenses paid that management considers to be non-operating in nature.

    Free cash flow and adjusted free cash flow are commonly used by investors as additional measures of cash generated by business operations that may be used to repay scheduled debt maturities and debt service or, following payment of such debt obligations and other non-discretionary items, that may be available to invest in future growth through new business development activities or acquisitions, repurchase stock, pay cash dividends or repay debt obligations prior to their maturities. These metrics can also be used to evaluate the Company’s ability to generate cash flow from business operations and the impact that this cash flow has on the Company’s liquidity. However, free cash flow and adjusted free cash flow have limitations as analytical tools and should not be considered in isolation or as a substitute for cash flow from operating activities or other income statement data prepared in accordance with GAAP. The following table reconciles cash flow from operating activities to free cash flow and adjusted free cash flow (in thousands):

                        Trailing Twelve
        Three Months Ended   Six Months Ended   Months Ended
        June 30,   June 30,   June 30,
          2025       2024       2025       2024       2025       2024  
    Cash flow from operating activities   $ 116,854     $ 106,187     $ 243,494     $ 228,719     $ 554,733     $ 439,192  
    Cash flow from certain investing activities:                        
    Pawn loans, net (1)     (50,032 )     (46,036 )     (30,592 )     (20,887 )     (81,704 )     (56,053 )
    Finance receivables, net     (35,411 )     (22,252 )     (55,977 )     (37,563 )     (157,728 )     (95,880 )
    Purchases of furniture, fixtures, equipment and improvements     (12,952 )     (16,237 )     (25,866 )     (42,664 )     (51,447 )     (74,464 )
    Free cash flow     18,459       21,662       131,059       127,605       263,854       212,795  
    Merger and acquisition expenses paid, net of tax benefit     2,134       1,047       2,488       1,504       2,690       7,380  
    Adjusted free cash flow   $ 20,593     $ 22,709     $ 133,547     $ 129,109     $ 266,544     $ 220,175  

    (1) Includes the funding of new loans net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Adjusted Return on Equity and Adjusted Return on Assets

    Management believes the presentation of adjusted return on equity and adjusted return on assets provides investors with greater transparency and provides a more complete understanding of the Company’s financial performance by excluding items that management believes are non-operating in nature and not representative of the Company’s core operating performance.

    Annualized adjusted return on equity and adjusted return on assets is calculated as follows (dollars in thousands):

      Trailing Twelve
      Months Ended
      June 30, 2025
    Adjusted net income (1) $ 342,992  
         
    Average stockholders’ equity (average of five most recent quarter-end balances) $ 2,046,067  
    Adjusted return on equity (trailing twelve months adjusted net income divided by average equity) 17 %
         
    Average total assets (average of five most recent quarter-end balances) $ 4,426,553  
    Adjusted return on assets (trailing twelve months adjusted net income divided by average total assets) 8 %

    (1) See detail of adjustments to net income in the “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section above.

    Constant Currency Results

    The Company’s reporting currency is the U.S. dollar, however, certain performance metrics discussed in this release are presented on a “constant currency” basis, which is considered a non-GAAP financial measure. The Company’s management uses constant currency results to evaluate operating results of business operations in Latin America, which are transacted in local currencies in Mexico, Guatemala and Colombia. The Company also has operations in El Salvador, where the reporting and functional currency is the U.S. dollar.

    The Company believes constant currency results provide valuable supplemental information regarding the underlying performance of its business operations in Latin America, consistent with how the Company’s management evaluates such performance and operating results. Constant currency results reported herein are calculated by translating certain balance sheet and income statement items denominated in local currencies using the exchange rate from the prior-year comparable period, as opposed to the current comparable period, in order to exclude the effects of foreign currency rate fluctuations for purposes of evaluating period-over-period comparisons. See the Latin America pawn segment tables elsewhere in this release for additional reconciliation of certain constant currency amounts to as reported GAAP amounts.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Exchange Rates for the Mexican Peso, Guatemalan Quetzal and Colombian Peso

      June 30,   Favorable /
      2025   2024   (Unfavorable)
    Mexican peso / U.S. dollar exchange rate:              
    End-of-period 18.9   18.4     (3 ) %
    Three months ended 19.5   17.2     (13 ) %
    Six months ended 20.0   17.1     (17 ) %
                   
    Guatemalan quetzal / U.S. dollar exchange rate:              
    End-of-period 7.7   7.8     1   %
    Three months ended 7.7   7.8     1   %
    Six months ended 7.7   7.8     1   %
                   
    Colombian peso / U.S. dollar exchange rate:              
    End-of-period 4,070   4,148     2   %
    Three months ended 4,199   3,927     (7 ) %
    Six months ended 4,195   3,921     (7 ) %

    The MIL Network –

  • MIL-OSI: FirstCash Reports Record Second Quarter Operating Results; Strong Performance Across All Segments Drives Over 30% Year-to-Date EPS Growth; Increases Quarterly Cash Dividend 11%

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, July 24, 2025 (GLOBE NEWSWIRE) — FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), the leading international operator of more than 3,000 retail pawn stores and a leading provider of retail point-of-sale payment solutions, today announced operating results for the three and six month periods ended June 30, 2025. The Company also announced that the Board of Directors declared a quarterly cash dividend of $0.42 per share, an increase of 11% over the previous quarterly dividend, which will be paid in August 2025.

    Mr. Rick Wessel, chief executive officer, stated, “FirstCash is pleased to report outstanding earnings results for the second quarter and year-to-date periods. Pawn demand remains extremely robust, with local currency same-store pawn receivables up 13% in both the U.S. and Latin America, driving strong earnings growth for both segments. AFF posted growth in originations for the second quarter and a segment earnings increase of 46% versus last year. Driven by strong cash flows, the Board of Directors increased the quarterly cash dividend by 11%, which further reflects the strength of our business and long-term earnings prospects.”

    Additionally, the Company expects to complete its previously announced acquisition of H&T Group plc (“H&T”) by the end of the third quarter of 2025, subject to receipt of the required approvals by the Financial Conduct Authority of the United Kingdom (“FCA”) and satisfaction of the other remaining closing conditions. H&T is the largest pawnbroker in the U.K. with 285 locations and would represent FirstCash’s first operations in Europe.

    This release contains adjusted financial measures, which exclude certain non-operating and/or non-cash income and expenses, that are non-GAAP financial measures. Please refer to the descriptions and reconciliations to GAAP of these and other non-GAAP financial measures at the end of this release.

        Three Months Ended June 30,
        As Reported (GAAP)   Adjusted (Non-GAAP)
    In thousands, except per share amounts   2025   2024   2025   2024
    Revenue   $ 830,622   $ 831,012   $ 830,622   $ 831,012
    Net income   $ 59,805   $ 49,073   $ 79,620   $ 61,898
    Diluted earnings per share   $ 1.34   $ 1.08   $ 1.79   $ 1.37
    EBITDA (non-GAAP measure)   $ 132,753   $ 117,651   $ 145,129   $ 121,882
    Weighted-average diluted shares     44,552     45,289     44,552     45,289
        Six Months Ended June 30,
        As Reported (GAAP)   Adjusted (Non-GAAP)
    In thousands, except per share amounts   2025   2024   2025   2024
    Revenue   $ 1,667,045   $ 1,667,382   $ 1,667,045   $ 1,667,382
    Net income   $ 143,396   $ 110,441   $ 172,399   $ 132,087
    Diluted earnings per share   $ 3.21   $ 2.44   $ 3.86   $ 2.91
    EBITDA (non-GAAP measure)   $ 295,714   $ 250,238   $ 308,009   $ 253,474
    Weighted-average diluted shares     44,670     45,338     44,670     45,338
     

    Consolidated Operating Highlights

    • Diluted earnings per share for the second quarter increased 24% over the prior-year quarter on a GAAP basis while adjusted diluted earnings per share increased 31% compared to the prior-year quarter.
    • Year-to-date diluted earnings per share increased 32% over the prior-year period on a GAAP basis and adjusted diluted earnings per share increased 33% compared to the prior-year period.
    • Net income for the second quarter increased 22% over the prior-year quarter on a GAAP basis while adjusted net income increased 29% compared to the prior-year quarter.
    • Year-to-date net income increased 30% over the prior-year period on a GAAP basis and adjusted net income increased 31% compared to the prior-year period.
    • Adjusted EBITDA for the second quarter increased 19% compared to the prior-year quarter. On a year-to-date basis, adjusted EBITDA increased 22% compared to the comparative prior-year period.
    • For the trailing twelve month period ended June 30, 2025 the Company reported:
      • Revenues of $3.4 billion
      • Net income of $292 million on a GAAP basis and adjusted net income of $343 million
      • Adjusted EBITDA of $613 million
      • Operating cash flows of $555 million and adjusted free cash flows (a non-GAAP measure) of $267 million

    Store Base and Platform Growth

    • U.K. Pawn Acquisition Update
      • On July 2, 2025 the shareholders of H&T voted to approve the acquisition.
      • Pending approvals by the FCA and the satisfaction of other closing conditions, the Company expects the transaction to close by the end of the third quarter.
      • The total equity value for the H&T acquisition is approximately £291 million ($396 million USD using GBP/USD exchange rate of 1.36) which the Company intends to fund utilizing its revolving bank credit facility.
      • This combination of FirstCash and H&T will create the largest publicly traded pawn platform in the United States, Latin America and the United Kingdom with more than 3,300 total locations.
    • Other Pawn Store Additions
      • A total of 13 pawn locations were added in the second quarter and 25 stores added year-to-date.
      • Three U.S. stores were acquired in Illinois, bringing the total to 39 locations in that market. Additionally, one new location in Texas was opened during the second quarter. Year-to-date through June 30, 2025, a total of six new locations were opened or acquired in the U.S.
      • There were nine new store openings in Latin America, all of which are located in Mexico. Year-to-date through June 30, 2025, a total of 19 new locations were opened in Latin America.
      • The Company purchased the underlying real estate of 14 U.S. stores during the quarter, bringing the total number of company owned locations to 421 at quarter end.
      • As of June 30, 2025, the Company had 3,027 locations, comprised of 1,194 U.S. locations and 1,833 locations in Latin America. Additionally, two U.S. stores were acquired in July 2025 in separate transactions.
    • Retail POS Payment Solutions (AFF) Merchant Partnerships
      • At June 30, 2025, there were approximately 15,300 active retail and e-commerce merchant partner locations, representing a 19% increase in the number of active merchant locations compared to a year ago. Excluding furniture locations that closed in the prior year due to merchant partner bankruptcies, the number of active doors increased 29%.

    U.S. Pawn Segment Operating Results

    • Segment pre-tax operating income in the second quarter of 2025 was a record $98 million, an increase of $8 million, or 8%, compared to the prior-year quarter. The resulting segment pre-tax operating margin was 24% for the second quarter of 2025, which equaled the prior-year quarter.
    • Year-to-date segment pre-tax operating income increased by $24 million, or 13%, compared to the prior-year period. The pre-tax operating margin was 25% for the year-to-date period, which equaled the prior-year period.
    • Pawn receivables increased 12% in total at June 30, 2025 compared to the prior year, driven by an impressive 13% increase in same-store pawn receivables. On a two-year stacked basis, same-store pawn receivables were up 24%.
    • Pawn loan fees increased 9% for the second quarter both in total and on a same-store basis.
    • Retail merchandise sales increased 9% in the second quarter of 2025 compared to the prior-year quarter, while same-store retail sales increased 7% compared to the prior-year quarter.
    • Retail sales margins increased to 43% for the second quarter compared to 42% in the prior-year quarter. Annualized inventory turnover was 2.8 times for the trailing twelve months ended June 30, 2025, which equaled the inventory turnover during the same prior-year period. Inventories aged greater than one year at June 30, 2025 remained low at 2% of total inventories.

    Latin America Pawn Segment Operating Results

    Note: Certain growth rates below are calculated on a constant or local currency basis, a non-GAAP financial measure defined at the end of this release. The average Mexican peso to U.S. dollar exchange rate for the second quarter of 2025 was 19.5 pesos / dollar, an unfavorable change of 13% versus the comparable prior-year period, and for the six month period ended June 30, 2025 was 20.0 pesos / dollar, an unfavorable change of 17% versus the prior-year period.

    • Despite the 13% decrease in the average Mexican peso exchange rate, second quarter segment pre-tax operating income increased 10% on a U.S. dollar basis and totaled a record $41 million compared to last year. On a local currency basis, segment earnings increased 22% over last year, with resulting segment pre-tax operating margins of 20% for both measures, compared to 18% in the prior year.
    • Year-to-date segment pre-tax operating income totaled $72 million, a 5% increase on a U.S. dollar-basis compared to the prior-year period and an 18% increase on a local currency basis. The year-to-date pre-tax operating margin increased to 19% compared to 17% in the prior-year period.
    • Pawn receivables at June 30, 2025 increased 11% on a U.S. dollar basis while increasing 14% on a constant currency basis compared to the prior year. On a same-store basis, pawn receivables increased 10% on a U.S. dollar basis and increased 13% on a constant currency basis compared to the prior year.
    • While total and same-store pawn loan fees in the second quarter decreased 1% and 2% on a U.S. dollar-basis, respectively, they both increased 11% on a constant currency basis compared to the prior-year quarter.
    • Retail merchandise sales in the second quarter of 2025 increased 1% on a U.S. dollar-basis compared to the prior-year quarter while increasing 14% on a constant currency basis. On a same-store basis, second quarter retail merchandise sales were flat on a U.S. dollar basis while increasing 13% on a constant currency basis compared to the prior-year quarter.
    • Retail margins were 36% for the second quarter of 2025, which equaled the prior-year quarter. Annualized inventory turnover was 4.1 times for the trailing twelve months ended June 30, 2025 compared to 4.3 times in the prior-year period. Inventories aged greater than one year at June 30, 2025 remained extremely low at 1%.

    American First Finance (AFF) – Retail POS Payment Solutions Segment Operating Results

    • Second quarter segment pre-tax operating income totaled $38 million, an increase of 46% compared to the prior-year quarter. The growth in earnings was driven primarily by gross margin improvement and operating expense reductions. Year-to-date segment pre-tax operating income totaled $90 million, a 53% increase over the prior-year period which was $59 million.
    • While gross revenues for the second quarter decreased 14%, primarily due to the American Freight Warehouse (“A-Freight”) and Conn’s Home Plus (“Conn’s”) bankruptcies in late 2024, net revenue increased 2%, driven by growth in revenue from other merchant partners and lower net credit provisioning expenses.
    • Gross transaction volume of lease and loan originations during the second quarter increased 3%, compared to the second quarter of last year. Excluding 2024 originations from A-Freight and Conn’s, second quarter 2025 origination volume increased approximately 34%. For the year-to-date period, overall gross transaction volume decreased 2% over the same prior-year period and was up 29% excluding A-Freight and Conn’s.
    • As a percentage of the total gross transaction volume, the combined lease and loan loss provision expense was 29% for the second quarter of 2025 compared to 31% in the second quarter of 2024. The decrease reflected lower than expected charge-offs on older portfolio vintages which resulted in net reserve releases. The combined allowance as a percentage of combined leased merchandise and finance receivables at June 30, 2025 was 43% compared to 45% a year ago.
    • Operating expenses decreased 31% compared to the prior-year quarter, primarily due to the elimination of certain expenses associated with supporting the A-Freight and Conn’s relationships in the prior-year period along with continued realization of operating synergies, including greater efficiencies in technology and development infrastructure, coupled with other cost reduction initiatives.

    Cash Flow and Liquidity

    • Consolidated operating cash flows for the twelve month period ended June 30, 2025 grew 26% and totaled $555 million compared to $439 million in the same prior-year period, with significant contributions from each of the Company’s three business segments.
    • Adjusted free cash flows increased 21% to $267 million in the twelve month period ended June 30, 2025 compared to $220 million in the same prior-year period.
    • The operating cash flows helped fund significant growth in earning assets, continued investments in the pawn store platform and shareholder returns over the past twelve months with a nominal increase in net debt:
      • Pawn earning assets (pawn receivables and inventories) increased $99 million compared to last year.
      • A total of 15 pawn stores were acquired for a combined purchase price of $44 million.
      • 42 new pawn stores were added with a combined investment of $16 million in fixed assets and working capital.
      • Real estate purchases totaled $93 million as the Company purchased the underlying real estate at 60 of its existing pawn stores, bringing the number of Company-owned properties to 421 locations.
      • Shareholder returns comprised of stock repurchases and cash dividends of $127 million.
    • Net debt at June 30, 2025 was $1.6 billion, of which $1.5 billion is fixed rate debt with favorable interest rates ranging from 4.625% to 6.875% and maturity dates that do not begin until 2028 and continue into 2032. The outstanding balance under the Company’s $700 million revolving line of credit totaled $152 million at June 30, 2025.
    • Based on trailing twelve month results, the Company’s net debt to adjusted EBITDA ratio improved to 2.6x at June 30, 2025.

    Shareholder Returns

    • The Board of Directors declared a $0.42 per share third quarter cash dividend, which will be paid on August 29, 2025 to stockholders of record as of August 15, 2025. This represents an 11% increase over the previous quarterly dividend.
    • On an annualized basis, the dividend is now $1.68 per share, also representing an 11% increase over the previous annualized dividend of $1.52 per share. Any future dividends are subject to approval by the Company’s Board of Directors.
    • Over the past twelve months, the Company has repurchased 525,000 shares of common stock at a total cost of $60 million and paid out $68 million in cash dividends, representing a payout ratio of approximately 44% of net income over the same period.
    • The Company has $55 million available under the $200 million share repurchase program authorized in July 2023. Future share repurchases are subject to expected liquidity, acquisitions and other investment opportunities, debt covenant restrictions, market conditions and other relevant factors.
    • The Company generated a 14% return on equity and a 7% return on assets for the twelve months ended June 30, 2025. Using adjusted net income for the twelve months ended June 30, 2025, the adjusted return on equity was 17% while the adjusted return on assets was 8%.

    2025 Outlook

    Driven by the strong first half results and continuing customer demand for pawn loans, the outlook for 2025 remains highly positive, with expected year-over-year growth in income driven by the continued growth in earning asset balances coupled with store additions. While the H&T acquisition is now anticipated to close by the end of the third quarter of 2025, the estimates provided below do not yet include revenue and contributions from H&T. Anticipated conditions and trends for the remainder of 2025 include the following:

    Pawn Operations:

    • Pawn operations are expected to remain the primary earnings driver in 2025 as the Company expects segment income from the combined U.S. and Latin America pawn segments to be over 80% of total segment level pre-tax income for the full year.
    • The Company expects further growth in the pawn store base in 2025 through a combination of new store openings and potential small acquisitions.

    U.S. Pawn

    • Based on strong first half results and expected store additions, the outlook for anticipated revenue growth and margins has been increased for all metrics.
    • Same-store pawn loans at June 30, 2025 were up 13% compared to a year ago, with July balances to date up similarly. Given these trends, the outlook for pawn fee growth is now expected to be in a range of 10% to 12% for the full year versus the prior expectation of 9% to 11% for the full year.
    • Retail sales are expected to grow in a high single digit range in 2025 versus prior expectations of mid single digits. Retail sales margins are now targeted at the upper end of the 41% to 42% guidance range.

    Latin America Pawn

    • U.S. dollar-reported first half results for Latin America in 2025 were negatively impacted by the lower exchange rate for the Mexican peso during the first half of this year compared to last year. With the recent favorable movement in the peso and the better than expected growth in the underlying business, the Company is increasing its full year revenue outlook for the Latin America pawn segment.
    • Same-store pawn receivables at June 30, 2025 were up 10% on a U.S. dollar basis and up 13% on a constant currency basis, with July balances to date up similarly. Full year pawn fee growth is now expected to increase in a range of 10% to 12% on a local currency basis and is now projected to be flat to up slightly on a U.S. dollar basis versus prior expectations of flat to down slightly on a U.S. dollar basis.
    • Retail sales in Latin America are also expected to track similarly to pawn fees in 2025 with consistent retail margins.

    Retail POS Payment Solutions (AFF) Operations:

    • The forecast for full year origination volume for 2025 is expected to be relatively consistent with the 2024 volume. Excluding 2024 originations from Conn’s and A-Freight, origination volumes are expected to increase in a range of 20% to 25% over 2024, reflecting continued diversification outside the furniture vertical.
    • The outlook for full year net revenues has improved, with the revised forecast for net revenues now expected to decline only 6% to 8% compared to last year versus the previously forecasted decline of 8% to 12%.
    • The net lease and loan charge-off rates for the second half of 2025 are expected to remain consistent with the charge-off rates in the second half of last year. Quarterly operating expenses for the balance of 2025 are expected to remain generally consistent with the second quarter run rate.

    Tax Rates and Currency:

    • The full year 2025 effective income tax rate under current tax codes in the U.S. and Latin America is expected to range from 24.5% to 25.5%.
    • Each full point change in the exchange rate of the Mexican peso is projected to have an annual earnings impact of approximately $0.10 per share.

    Additional Commentary and Analysis

    Mr. Wessel further commented on FirstCash’s second quarter results and the outlook for the remainder of 2025, “Operating performance across all business segments continues to be incredibly strong, driving year-to-date earnings per share growth of 32% on a GAAP basis and a 33% increase on an adjusted basis. FirstCash also achieved another significant earnings milestone this quarter with adjusted EBITDA for the trailing twelve months exceeding $600 million for the first time in Company history.

    “The U.S. pawn segment has now recorded eight consecutive quarters of double-digit growth in same-store receivables with continuing demand remaining strong thus far in July. At the same time, we remain disciplined in managing loan-to-value ratios as evidenced by the improved U.S. retail margins in the second quarter. The demand for value priced merchandise remains strong as well with same-store retail sales up 7% for the most recent quarter.

    “In Latin America, we have seen tremendous growth in pawn receivables over the last three quarters, including a 13% increase in same-store pawn receivables in the second quarter. This trend continued to accelerate, with same-store pawn loan originations in Mexico up over 20% over the last thirty days. Our outlook for Latin America is further enhanced by the improved exchange rate for the Mexican peso since the last quarter, which has reduced the previously anticipated currency headwinds and improved our full year outlook for the region.

    “Solid performance at AFF further bolstered second quarter and year-to-date operating results for our Retail POS Payment Solutions segment. AFF now has over 15,000 active doors, an increase of 19% over a year ago. Coupled with a 12% increase in same-door originations, AFF fully offset the impact of the loss of two significant merchant partners to bankruptcy last year and realized an overall total increase in originations in the second quarter. Growth continues to be particularly robust in verticals such as elective medical and automotive services. Driven by the solid revenue performance and significant expense savings, profitability for AFF has been especially strong in the first half of the year.

    “Looking ahead, we continue to progress toward the closing of the H&T acquisition. H&T represents a highly complementary strategic fit as the U.K.’s largest pawnbroker, operating with a network of 285 stores, which will expand FirstCash’s geographic footprint into a new and attractive market further providing the Company with enhanced scale, operating efficiencies and long-term growth opportunities. We continue to believe in the financial and strategic rationale for expanding our international operations as part of our long-term growth strategy.

    “Lastly, based on strong earnings results, robust operating cash flows and the strength of its balance sheet, FirstCash continues to make significant investments in new stores, acquisitions and shareholder returns. To that end, we are again pleased to announce an increased quarterly cash dividend to be paid in August which is expected to provide an annualized payout of $1.68 per share further augmenting shareholder returns” concluded Mr. Wessel.

    About FirstCash

    FirstCash is the leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash’s more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash’s pawn segments in the U.S. and Latin America currently account for approximately 80% of annualized segment earnings, with the remainder provided by its wholly owned subsidiary, AFF, which provides lease-to-own and retail finance payment solutions for consumer goods and services.

    FirstCash is a component company in both the Standard & Poor’s MidCap 400 Index® and the Russell 2000 Index®. FirstCash’s common stock (ticker symbol “FCFS”) is traded on the Nasdaq, the creator of the world’s first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash’s websites located at http://www.firstcash.com and http://www.americanfirstfinance.com.

    Forward-Looking Information

    This release contains forward-looking statements about the business, financial condition, outlook and prospects of FirstCash Holdings, Inc. and its wholly owned subsidiaries (together, the “Company”), including the Company’s outlook for 2025 and the Company’s previously announced H&T acquisition. Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of forward-looking terminology such as “outlook,” “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations, outlook and future plans. Forward-looking statements can also be identified by the fact these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties.

    While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned that such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Such factors and risks may include, without limitation, risks related to the extensive regulatory environment in which the Company operates, including uncertainty involving the current regulatory environment under the current presidential administration; risks associated with the legal and regulatory proceedings that the Company is a party to or may become a party to in the future; risks related to the Company’s acquisitions, including the failure of the Company’s acquisitions to deliver the estimated value and benefits expected by the Company and the ability of the Company to continue to identify and consummate acquisitions on favorable terms, if at all; risks related to the H&T acquisition, in particular, the ability to obtain the necessary regulatory approvals for the H&T acquisition from the FCA and to satisfy the other closing conditions in the expected timeframe, if at all, and the ability to achieve the anticipated benefits from the H&T acquisition; potential changes in consumer behavior and shopping patterns which could impact demand for the Company’s pawn loan, retail, lease-to-own (“LTO”) and retail finance products; labor shortages and increased labor costs; a deterioration in the economic conditions in the United States and Latin America, including as a result of inflation, elevated interest rates and trade policy, which potentially could have an impact on discretionary consumer spending and demand for the Company’s products; currency fluctuations, primarily involving the Mexican peso; competition the Company faces from other retailers and providers of retail payment solutions; the ability of the Company to successfully execute on its business strategies; contraction in sales activity at merchant partners of the Company’s retail point-of-sale (“POS”) payment solutions business; impact of store closures, financial difficulties or even bankruptcies at the merchant partners of the Company’s retail POS payment solutions business; the ability of the Company’s retail POS payment solutions business to continue to grow its base of merchant partners, including those outside of the furniture vertical; and other risks discussed and described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), including the risks described in Part 1, Item 1A, “Risk Factors” thereof, and other reports filed with the SEC. Many of these risks and uncertainties are beyond the ability of the Company to control, nor can the Company predict, in many cases, all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. The forward-looking statements contained in this release speak only as of the date of this release, and the Company expressly disclaims any obligation or undertaking to report any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    FIRSTCASH HOLDINGS, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (unaudited, in thousands)
     
      Three Months Ended   Six Months Ended
      June 30,   June 30,
        2025       2024       2025       2024  
    Revenue:              
    Retail merchandise sales $ 385,125     $ 363,463     $ 756,181     $ 730,284  
    Pawn loan fees   190,822       181,046       382,693       360,581  
    Leased merchandise income   139,784       194,570       296,702       400,241  
    Interest and fees on finance receivables   76,075       56,799       149,488       114,186  
    Wholesale scrap jewelry sales   38,816       35,134       81,981       62,090  
    Total revenue   830,622       831,012       1,667,045       1,667,382  
                   
    Cost of revenue:              
    Cost of retail merchandise sold   230,326       218,147       454,450       441,676  
    Depreciation of leased merchandise   78,272       110,157       167,091       230,441  
    Provision for lease losses   32,543       47,653       60,105       90,663  
    Provision for loan losses   41,761       31,116       78,121       61,534  
    Cost of wholesale scrap jewelry sold   34,904       28,542       70,259       51,831  
    Total cost of revenue   417,806       435,615       830,026       876,145  
                   
    Net revenue   412,816       395,397       837,019       791,237  
                   
    Expenses and other income:              
    Operating expenses   222,493       228,369       437,079       449,505  
    Administrative expenses   59,263       46,602       107,786       90,620  
    Depreciation and amortization   25,864       26,547       51,366       52,574  
    Interest expense   26,337       25,187       53,808       50,605  
    Interest income   (527 )     (261 )     (1,756 )     (1,004 )
    (Gain) loss on foreign exchange   (1,271 )     1,437       (1,285 )     1,251  
    Merger and acquisition expenses   2,777       1,364       3,239       1,961  
    Other income, net   (3,199 )     (26 )     (5,514 )     (2,338 )
    Total expenses and other income   331,737       329,219       644,723       643,174  
                   
    Income before income taxes   81,079       66,178       192,296       148,063  
                   
    Provision for income taxes   21,274       17,105       48,900       37,622  
                   
    Net income $ 59,805     $ 49,073     $ 143,396     $ 110,441  
     
    Certain amounts in the consolidated statement of income for the three and six months ended June 30, 2024 have been reclassified in order to conform to the 2025 presentation.
    FIRSTCASH HOLDINGS, INC.
    CONSOLIDATED BALANCE SHEETS
    (unaudited, in thousands)
     
      June 30,   December 31,
        2025       2024       2024  
    ASSETS          
    Cash and cash equivalents $ 101,467     $ 113,693     $ 175,095  
    Accounts receivable, net   76,062       72,158       73,325  
    Pawn loans   550,718       491,731       517,867  
    Finance receivables, net   154,518       105,401       147,501  
    Inventories   355,733       315,424       334,580  
    Leased merchandise, net   100,689       142,935       128,437  
    Prepaid expenses and other current assets   35,667       31,923       26,943  
    Total current assets   1,374,854       1,273,265       1,403,748  
               
    Property and equipment, net   750,862       661,005       717,916  
    Operating lease right of use asset   342,859       324,651       324,646  
    Goodwill   1,826,184       1,794,957       1,787,172  
    Intangible assets, net   204,643       253,910       228,858  
    Other assets   9,805       9,606       9,934  
    Deferred tax assets, net   5,042       5,014       4,712  
    Total assets $ 4,514,249     $ 4,322,408     $ 4,476,986  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Accounts payable and accrued liabilities $ 145,035     $ 141,314     $ 171,540  
    Customer deposits and prepayments   80,848       76,452       72,703  
    Lease liability, current   100,845       97,809       95,161  
    Total current liabilities   326,728       315,575       339,404  
               
    Revolving unsecured credit facilities   152,000       150,000       198,000  
    Senior unsecured notes   1,532,865       1,529,870       1,531,346  
    Deferred tax liabilities, net   125,290       129,060       128,574  
    Lease liability, non-current   237,198       219,454       225,498  
    Total liabilities   2,374,081       2,343,959       2,422,822  
               
    Stockholders’ equity:          
    Common stock   575       575       575  
    Additional paid-in capital   1,760,179       1,760,986       1,767,569  
    Retained earnings   1,520,677       1,296,721       1,411,083  
    Accumulated other comprehensive loss   (96,267 )     (84,366 )     (129,596 )
    Common stock held in treasury, at cost   (1,044,996 )     (995,467 )     (995,467 )
    Total stockholders’ equity   2,140,168       1,978,449       2,054,164  
    Total liabilities and stockholders’ equity $ 4,514,249     $ 4,322,408     $ 4,476,986  
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS
    (UNAUDITED)
     

    The Company organizes its operations into three reportable segments as follows:

    • U.S. pawn
    • Latin America pawn
    • Retail POS payment solutions (AFF)

    Corporate expenses and income, which include administrative expenses, corporate depreciation and amortization, interest expense, interest income, gain on foreign exchange, merger and acquisition expenses, and other income, net, are presented on a consolidated basis and are not allocated to the segments. Intersegment transactions related to AFF’s LTO payment solution product offered in U.S. pawn stores are eliminated from consolidated totals.

    U.S. Pawn Operating Results and Margins (dollars in thousands)

      Three Months Ended        
      June 30,    
      2025
    		   2024   Increase
    Revenue:                  
    Retail merchandise sales $ 249,918     $ 230,093       9 %  
    Pawn loan fees   130,948       120,332       9 %  
    Wholesale scrap jewelry sales   28,740       26,311       9 %  
    Total revenue   409,606       376,736       9 %  
                       
    Cost of revenue:                  
    Cost of retail merchandise sold   143,149       132,449       8 %  
    Cost of wholesale scrap jewelry sold   26,265       21,269       23 %  
    Total cost of revenue   169,414       153,718       10 %  
                       
    Net revenue   240,192       223,018       8 %  
                       
    Segment expenses:                  
    Operating expenses   133,815       125,192       7 %  
    Depreciation and amortization   8,091       7,231       12 %  
    Total segment expenses   141,906       132,423       7 %  
                       
    Segment pre-tax operating income $ 98,286     $ 90,595       8 %  
                       
    Operating metrics:                  
    Retail merchandise sales margin 43 %   42 %        
    Net revenue margin 59 %   59 %        
    Segment pre-tax operating margin 24 %   24 %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    U.S. Pawn Operating Results and Margins (dollars in thousands)

      Six Months Ended        
      June 30,    
      2025    2024    Increase
    Revenue:                  
    Retail merchandise sales $ 501,143     $ 467,083       7 %  
    Pawn loan fees   268,896       243,306       11 %  
    Wholesale scrap jewelry sales   62,232       44,037       41 %  
    Total revenue   832,271       754,426       10 %  
                       
    Cost of revenue:                  
    Cost of retail merchandise sold   288,907       272,363       6 %  
    Cost of wholesale scrap jewelry sold   53,489       36,535       46 %  
    Total cost of revenue   342,396       308,898       11 %  
                       
    Net revenue   489,875       445,528       10 %  
                       
    Segment expenses:                  
    Operating expenses   262,766       244,087       8 %  
    Depreciation and amortization   15,691       14,244       10 %  
    Total segment expenses   278,457       258,331       8 %  
                       
    Segment pre-tax operating income $ 211,418     $ 187,197       13 %  
                       
    Operating metrics:                  
    Retail merchandise sales margin 42 %   42 %        
    Net revenue margin 59 %   59 %        
    Segment pre-tax operating margin 25 %   25 %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    U.S. Pawn Earning Assets and Portfolio Metrics (dollars in thousands, except as otherwise noted)

      As of June 30,    
      2025
    		   2024   Increase
    Earning assets:                  
    Pawn loans $ 400,143     $ 356,342       12 %  
    Inventories   252,885       223,428       13 %  
      $ 653,028     $ 579,770       13 %  
                       
    Average outstanding pawn loan amount (in ones) $ 286     $ 260       10 %  
                       
    Composition of pawn collateral:                  
    General merchandise 28 %   30 %        
    Jewelry 72 %   70 %        
      100 %   100 %        
                       
    Composition of inventories:                  
    General merchandise 39 %   43 %        
    Jewelry 61 %   57 %        
      100 %   100 %        
                       
    Percentage of inventory aged greater than one year 2 %   1 %        
                       
    Inventory turns (trailing twelve months cost of merchandise sales divided by average inventories) 2.8 times   2.8 times        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Constant currency results are non-GAAP financial measures, which exclude the effects of foreign currency translation and are calculated by translating current-year results at prior-year average exchange rates. See the “Constant Currency Results” section below for additional discussion of constant currency operating results.

    Latin America Pawn Operating Results and Margins (dollars in thousands)

                          Constant Currency Basis
                          Three Months        
                    Ended        
        Three Months Ended           June 30,   Increase /
        June 30,   Increase /     2025     (Decrease)
          2025         2024     (Decrease)   (Non-GAAP)   (Non-GAAP)
    Revenue:                              
    Retail merchandise sales   $ 135,956       $ 134,445       1   %   $ 153,234       14   %
    Pawn loan fees     59,874         60,714       (1 ) %     67,497       11   %
    Wholesale scrap jewelry sales     10,076         8,823       14   %     10,076       14   %
    Total revenue     205,906         203,982       1   %     230,807       13   %
                                   
    Cost of revenue:                              
    Cost of retail merchandise sold     87,579         86,276       2   %     98,641       14   %
    Cost of wholesale scrap jewelry sold     8,639         7,273       19   %     9,811       35   %
    Total cost of revenue     96,218         93,549       3   %     108,452       16   %
                                   
    Net revenue     109,688         110,433       (1 ) %     122,355       11   %
                                   
    Segment expenses:                              
    Operating expenses     64,414         67,902       (5 ) %     72,340       7   %
    Depreciation and amortization     4,294         5,418       (21 ) %     4,804       (11 ) %
    Total segment expenses     68,708         73,320       (6 ) %     77,144       5   %
                                   
    Segment pre-tax operating income   $ 40,980       $ 37,113       10   %   $ 45,211       22   %
                                   
    Operating metrics:                              
    Retail merchandise sales margin 36  %   36  %         36  %        
    Net revenue margin 53  %   54  %         53  %        
    Segment pre-tax operating margin 20  %   18  %         20  %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Latin America Pawn Operating Results and Margins (dollars in thousands)

                          Constant Currency Basis
                          Six Months        
                    Ended        
        Six Months Ended           June 30,   Increase /
        June 30,   Increase /     2025     (Decrease)
          2025         2024     (Decrease)   (Non-GAAP)   (Non-GAAP)
    Revenue:                              
    Retail merchandise sales   $ 256,488       $ 265,294       (3 ) %   $ 296,887       12   %
    Pawn loan fees     113,797         117,275       (3 ) %     131,755       12   %
    Wholesale scrap jewelry sales     19,749         18,053       9   %     19,749       9   %
    Total revenue     390,034         400,622       (3 ) %     448,391       12   %
                                   
    Cost of revenue:                              
    Cost of retail merchandise sold     166,318         170,459       (2 ) %     192,333       13   %
    Cost of wholesale scrap jewelry sold     16,770         15,296       10   %     19,491       27   %
    Total cost of revenue     183,088         185,755       (1 ) %     211,824       14   %
                                   
    Net revenue     206,946         214,867       (4 ) %     236,567       10   %
                                   
    Segment expenses:                              
    Operating expenses     125,831         135,327       (7 ) %     144,841       7   %
    Depreciation and amortization     8,730         10,523       (17 ) %     10,008       (5 ) %
    Total segment expenses     134,561         145,850       (8 ) %     154,849       6   %
                                   
    Segment pre-tax operating income   $ 72,385       $ 69,017       5   %   $ 81,718       18   %
                                   
    Operating metrics:                              
    Retail merchandise sales margin 35  %   36  %         35  %        
    Net revenue margin 53  %   54  %         53  %        
    Segment pre-tax operating margin 19  %   17  %         18  %        
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Latin America Pawn Earning Assets and Portfolio Metrics (dollars in thousands, except as otherwise noted)

                          Constant Currency Basis
                          As of        
                          June 30,    
      As of June 30,       2025   Increase
      2025   2024   Increase   (Non-GAAP)   (Non-GAAP)
    Earning assets:                              
    Pawn loans $ 150,575     $ 135,389       11 %     $ 154,466     14 %  
    Inventories   102,848       91,996       12 %       105,501     15 %  
      $ 253,423     $ 227,385       11 %     $ 259,967     14 %  
                                   
    Average outstanding pawn loan amount (in ones) $ 96     $ 89       8 %     $ 98     10 %  
                                   
    Composition of pawn collateral:                              
    General merchandise 57 %   63 %                    
    Jewelry 43 %   37 %                    
      100 %   100 %                    
                                   
    Composition of inventories:                              
    General merchandise 59 %   69 %                    
    Jewelry 41 %   31 %                    
      100 %   100 %                    
                                   
    Percentage of inventory aged greater than one year 1 %   1 %                    
                                   
    Inventory turns (trailing twelve months cost of merchandise sales divided by average inventories) 4.1 times   4.3 times                    
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Retail POS Payment Solutions Operating Results (dollars in thousands)

      Three Months Ended        
      June 30,   Increase /
      2025   2024   (Decrease)
    Revenue:              
    Leased merchandise income $ 139,784   $ 194,570     (28 ) %
    Interest and fees on finance receivables   76,075     56,799     34   %
    Total revenue   215,859     251,369     (14 ) %
                   
    Cost of revenue:              
    Depreciation of leased merchandise   78,529     110,567     (29 ) %
    Provision for lease losses   32,667     47,824     (32 ) %
    Provision for loan losses   41,761     31,116     34   %
    Total cost of revenue   152,957     189,507     (19 ) %
                   
    Net revenue   62,902     61,862     2   %
                   
    Segment expenses:              
    Operating expenses   24,264     35,275     (31 ) %
    Depreciation and amortization   699     678     3   %
    Total segment expenses   24,963     35,953     (31 ) %
                   
    Segment pre-tax operating income $ 37,939   $ 25,909     46   %
      Six Months Ended        
      June 30,   Increase /
      2025   2024   (Decrease)
    Revenue:              
    Leased merchandise income $ 296,702   $ 400,241     (26 ) %
    Interest and fees on finance receivables   149,488     114,186     31   %
    Total revenue   446,190     514,427     (13 ) %
                   
    Cost of revenue:              
    Depreciation of leased merchandise   167,672     231,341     (28 ) %
    Provision for lease losses   60,271     91,004     (34 ) %
    Provision for loan losses   78,121     61,534     27   %
    Total cost of revenue   306,064     383,879     (20 ) %
                   
    Net revenue   140,126     130,548     7   %
                   
    Segment expenses:              
    Operating expenses   48,482     70,091     (31 ) %
    Depreciation and amortization   1,404     1,399     —   %
    Total segment expenses   49,886     71,490     (30 ) %
                   
    Segment pre-tax operating income $ 90,240   $ 59,058     53   %
    FIRSTCASH HOLDINGS, INC.
    SEGMENT RESULTS (CONTINUED)
    (UNAUDITED)
     

    Retail POS Payment Solutions Gross Transaction Volumes (dollars in thousands)

      Three Months Ended           Six Months Ended        
      June 30,   Increase /   June 30,   Increase /
      2025   2024   (Decrease)   2025   2024   (Decrease)
    Leased merchandise $ 110,516   $ 146,778     (25 ) %   $ 204,822   $ 300,899     (32 ) %
    Finance receivables   149,943     105,258     42   %     291,205     207,422     40   %
    Total gross transaction volume $ 260,459   $ 252,036     3   %   $ 496,027   $ 508,321     (2 ) %
     

    Retail POS Payment Solutions Earning Assets (dollars in thousands)

      As of June 30,   Increase /
        2025       2024     (Decrease)
    Leased merchandise, net:              
    Leased merchandise, before allowance for lease losses $ 170,824     $ 246,457       (31 ) %
    Less allowance for lease losses   (69,972 )     (103,301 )     (32 ) %
    Leased merchandise, net $ 100,852     $ 143,156       (30 ) %
                   
    Finance receivables, net:              
    Finance receivables, before allowance for loan losses $ 277,392     $ 205,362       35   %
    Less allowance for loan losses   (122,874 )     (99,961 )     23   %
    Finance receivables, net $ 154,518     $ 105,401       47   %
     

    Portfolio Metrics

      Three Months Ended   Six Months Ended
      June 30,   June 30,
        2025       2024       2025       2024  
    Leased merchandise portfolio metrics:                      
    Provision rate (1) 30 %   33 %   29 %   30 %
    Average monthly net charge-off rate (2), (3) 6.2 %   5.4 %   6.2 %   5.4 %
    Delinquency rate (4) 23.2 %   23.0 %   23.2 %   23.0 %
                           
    Finance receivables portfolio metrics:                      
    Provision rate (1) 28 %   30 %   27 %   30 %
    Average monthly net charge-off rate (2) 4.6 %   4.5 %   4.4 %   4.7 %
    Delinquency rate (4) 20.6 %   20.0 %   20.6 %   20.0 %

    (1) Calculated as provision for lease or loan losses as a percentage of the respective gross transaction volume originated.
    (2) Calculated as charge-offs, net of recoveries, as a percentage of the respective average earning asset balance before allowance for lease or loan losses.
    (3) The increase in leased merchandised net charge-off rate for 2025 is the expected result given reduced originations of new leases in 2025.
    (4) Calculated as the percentage of the respective contractual earning asset balance owed that is 1 to 89 days past due (the Company charges off leases and finance receivables when they are 90 days or more contractually past due).

    FIRSTCASH HOLDINGS, INC.
    PAWN STORE LOCATIONS AND MERCHANT PARTNER LOCATIONS
     

    Pawn Operations

    As of June 30, 2025, the Company operated 3,027 pawn store locations composed of 1,194 stores in 29 U.S. states and the District of Columbia, 1,731 stores in 32 states in Mexico, 72 stores in Guatemala, 18 stores in El Salvador and 12 stores in Colombia.

    The following tables detail pawn store count activity for the three and six months ended June 30, 2025:

      Three Months Ended June 30, 2025
      U.S.   Latin America   Total
    Total locations, beginning of period 1,197     1,826     3,023  
    New locations opened 1     9     10  
    Locations acquired 3     —     3  
    Consolidation of existing pawn locations (1) (7 )   (2 )   (9 )
    Total locations, end of period 1,194     1,833     3,027  
               
               
      Six Months Ended June 30, 2025
      U.S.   Latin America   Total
    Total locations, beginning of period 1,200     1,826     3,026  
    New locations opened 2     19     21  
    Locations acquired 4     —     4  
    Consolidation of existing pawn locations (1) (12 )   (12 )   (24 )
    Total locations, end of period 1,194     1,833     3,027  

    (1) Store consolidations were primarily acquired locations which have been combined with overlapping stores and for which the Company expects to maintain a significant portion of the acquired customer base in the consolidated location.

    Retail POS Payment Solutions

    As of June 30, 2025, AFF provided LTO and retail POS payment solutions for consumer goods and services through a network of approximately 15,300 active retail merchant partner locations. This compares to the active door count of approximately 12,800 locations at June 30, 2024.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES
    (UNAUDITED)
     

    The Company uses certain financial calculations such as adjusted net income, adjusted diluted earnings per share, EBITDA, adjusted EBITDA, free cash flow, adjusted free cash flow, adjusted return on equity, adjusted return on assets and constant currency results as factors in the measurement and evaluation of the Company’s operating performance and period-over-period growth. The Company derives these financial calculations on the basis of methodologies other than generally accepted accounting principles (“GAAP”), primarily by excluding from a comparable GAAP measure certain items the Company does not consider to be representative of its actual operating performance. These financial calculations are “non-GAAP financial measures” as defined under the SEC rules. The Company uses these non-GAAP financial measures in operating its business because management believes they are less susceptible to variances in actual operating performance that can result from the excluded items, other infrequent charges and currency fluctuations. The Company presents these financial measures to investors because management believes they are useful to investors in evaluating the primary factors that drive the Company’s core operating performance and provide greater transparency into the Company’s results of operations. However, items that are excluded and other adjustments and assumptions that are made in calculating these non-GAAP financial measures are significant components in understanding and assessing the Company’s financial performance. These non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, the Company’s GAAP financial measures. Further, because these non-GAAP financial measures are not determined in accordance with GAAP, and are thus susceptible to varying calculations, the non-GAAP financial measures, as presented, may not be comparable to other similarly-titled measures of other companies.

    The Company has adjusted the applicable financial calculations to exclude merger and acquisition expenses, amortization of acquired AFF intangible assets, the Consumer Financial Protection Bureau (“CFPB”) litigation settlement and certain other income and expenses. The Company does not consider these items to be related to the organic operations of the Company’s businesses or its continuing operations and are generally not relevant to assessing or estimating the long-term performance of the Company. In addition, excluding these items allows for more accurate comparisons of the financial results to prior periods. Merger and acquisition expenses include incremental costs directly associated with merger and acquisition activities, including professional fees, legal expenses, severance, retention and other employee-related costs, contract breakage costs and costs related to the consolidation of technology systems and corporate facilities, among others.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Adjusted Net Income and Adjusted Diluted Earnings Per Share

    Management believes the presentation of adjusted net income and adjusted diluted earnings per share provides investors with greater transparency and provides a more complete understanding of the Company’s financial performance and prospects for the future by excluding items that management believes are non-operating in nature and are not representative of the Company’s core operating performance. In addition, management believes the adjustments shown below are useful to investors in order to allow them to compare the Company’s financial results for the current periods presented with the prior periods presented.

    The following tables provide a reconciliation between net income and diluted earnings per share calculated in accordance with GAAP to adjusted net income and adjusted diluted earnings per share, which are shown net of tax (in thousands, except per share amounts):

                      Trailing Twelve
      Three Months Ended   Six Months Ended   Months Ended
      June 30,   June 30,   June 30,
        2025       2024     2025       2024     2025     2024  
      In Thousands   In Thousands   In Thousands   In Thousands   In Thousands   In Thousands
    Net income, as reported $ 59,805     $ 49,073   $ 143,396     $ 110,441   $ 291,770   $ 237,174  
    Adjustments, net of tax:                      
    Merger and acquisition expenses   2,134       1,047     2,488       1,504     2,690     7,380  
    AFF purchase accounting and other adjustments   9,258       9,572     18,516       19,145     37,660     51,497  
    CFPB litigation settlement   9,390       —     9,390       —     9,390     —  
    Other (income) expenses, net   (967 )     2,206     (1,391 )     997     1,482     (343 )
    Adjusted net income $ 79,620     $ 61,898   $ 172,399     $ 132,087   $ 342,992   $ 295,708  
      Three Months Ended   Six Months Ended
      June 30,   June 30,
        2025     2024   2025   2024
      Per Share   Per Share   Per Share   Per Share
    Diluted earnings per share, as reported $ 1.34     $ 1.08   $ 3.21     $ 2.44
    Adjustments, net of tax:              
    Merger and acquisition expenses   0.05       0.03     0.06       0.03
    AFF purchase accounting and other adjustments   0.21       0.21     0.41       0.42
    CFPB litigation settlement   0.21       —     0.21       —
    Other (income) expenses, net   (0.02 )     0.05     (0.03 )     0.02
    Adjusted diluted earnings per share $ 1.79     $ 1.37   $ 3.86     $ 2.91
    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA

    The Company defines EBITDA as net income before income taxes, depreciation and amortization, interest expense and interest income and adjusted EBITDA as EBITDA adjusted for certain items, as listed below, that management considers to be non-operating in nature and not representative of its actual operating performance. The Company believes EBITDA and adjusted EBITDA are commonly used by investors to assess a company’s financial performance, and adjusted EBITDA is used as a starting point in the calculation of the consolidated total debt ratio as defined in the Company’s senior unsecured notes. The following table provides a reconciliation of net income to EBITDA and adjusted EBITDA (in thousands):

                                Trailing Twelve
        Three Months Ended   Six Months Ended   Months Ended
        June 30,   June 30,   June 30,
        2025   2024   2025   2024   2025   2024
    Net income   $ 59,805     $ 49,073     $ 143,396     $ 110,441     $ 291,770     $ 237,174  
    Income taxes     21,274       17,105       48,900       37,622       95,239       80,001  
    Depreciation and amortization     25,864       26,547       51,366       52,574       103,733       107,574  
    Interest expense     26,337       25,187       53,808       50,605       108,429       101,880  
    Interest income     (527 )     (261 )     (1,756 )     (1,004 )     (2,687 )     (1,548 )
    EBITDA     132,753       117,651       295,714       250,238       596,484       525,081  
    Adjustments:                                    
    Merger and acquisition expenses     2,777       1,364       3,239       1,961       3,506       9,600  
    AFF purchase accounting and other adjustments (1)     —       —       —       —       —       13,968  
    CFPB litigation settlement     11,000       —       11,000       —       11,000       —  
    Other (income) expenses, net     (1,401 )     2,867       (1,944 )     1,275       1,982       (486 )
    Adjusted EBITDA   $ 145,129     $ 121,882     $ 308,009     $ 253,474     $ 612,972     $ 548,163  

    (1) For the twelve months ended June 30, 2024, amount represents other non-recurring costs included in administrative expenses related to a discontinued finance product.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Free Cash Flow and Adjusted Free Cash Flow

    For purposes of its internal liquidity assessments, the Company considers free cash flow and adjusted free cash flow. The Company defines free cash flow as cash flow from operating activities less purchases of furniture, fixtures, equipment and improvements and net fundings/repayments of pawn loan and finance receivables, which are considered to be operating in nature by the Company but are included in cash flow from investing activities. Adjusted free cash flow is defined as free cash flow adjusted for merger and acquisition expenses paid that management considers to be non-operating in nature.

    Free cash flow and adjusted free cash flow are commonly used by investors as additional measures of cash generated by business operations that may be used to repay scheduled debt maturities and debt service or, following payment of such debt obligations and other non-discretionary items, that may be available to invest in future growth through new business development activities or acquisitions, repurchase stock, pay cash dividends or repay debt obligations prior to their maturities. These metrics can also be used to evaluate the Company’s ability to generate cash flow from business operations and the impact that this cash flow has on the Company’s liquidity. However, free cash flow and adjusted free cash flow have limitations as analytical tools and should not be considered in isolation or as a substitute for cash flow from operating activities or other income statement data prepared in accordance with GAAP. The following table reconciles cash flow from operating activities to free cash flow and adjusted free cash flow (in thousands):

                        Trailing Twelve
        Three Months Ended   Six Months Ended   Months Ended
        June 30,   June 30,   June 30,
          2025       2024       2025       2024       2025       2024  
    Cash flow from operating activities   $ 116,854     $ 106,187     $ 243,494     $ 228,719     $ 554,733     $ 439,192  
    Cash flow from certain investing activities:                        
    Pawn loans, net (1)     (50,032 )     (46,036 )     (30,592 )     (20,887 )     (81,704 )     (56,053 )
    Finance receivables, net     (35,411 )     (22,252 )     (55,977 )     (37,563 )     (157,728 )     (95,880 )
    Purchases of furniture, fixtures, equipment and improvements     (12,952 )     (16,237 )     (25,866 )     (42,664 )     (51,447 )     (74,464 )
    Free cash flow     18,459       21,662       131,059       127,605       263,854       212,795  
    Merger and acquisition expenses paid, net of tax benefit     2,134       1,047       2,488       1,504       2,690       7,380  
    Adjusted free cash flow   $ 20,593     $ 22,709     $ 133,547     $ 129,109     $ 266,544     $ 220,175  

    (1) Includes the funding of new loans net of cash repayments and recovery of principal through the sale of inventories acquired from forfeiture of pawn collateral.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Adjusted Return on Equity and Adjusted Return on Assets

    Management believes the presentation of adjusted return on equity and adjusted return on assets provides investors with greater transparency and provides a more complete understanding of the Company’s financial performance by excluding items that management believes are non-operating in nature and not representative of the Company’s core operating performance.

    Annualized adjusted return on equity and adjusted return on assets is calculated as follows (dollars in thousands):

      Trailing Twelve
      Months Ended
      June 30, 2025
    Adjusted net income (1) $ 342,992  
         
    Average stockholders’ equity (average of five most recent quarter-end balances) $ 2,046,067  
    Adjusted return on equity (trailing twelve months adjusted net income divided by average equity) 17 %
         
    Average total assets (average of five most recent quarter-end balances) $ 4,426,553  
    Adjusted return on assets (trailing twelve months adjusted net income divided by average total assets) 8 %

    (1) See detail of adjustments to net income in the “Adjusted Net Income and Adjusted Diluted Earnings Per Share” section above.

    Constant Currency Results

    The Company’s reporting currency is the U.S. dollar, however, certain performance metrics discussed in this release are presented on a “constant currency” basis, which is considered a non-GAAP financial measure. The Company’s management uses constant currency results to evaluate operating results of business operations in Latin America, which are transacted in local currencies in Mexico, Guatemala and Colombia. The Company also has operations in El Salvador, where the reporting and functional currency is the U.S. dollar.

    The Company believes constant currency results provide valuable supplemental information regarding the underlying performance of its business operations in Latin America, consistent with how the Company’s management evaluates such performance and operating results. Constant currency results reported herein are calculated by translating certain balance sheet and income statement items denominated in local currencies using the exchange rate from the prior-year comparable period, as opposed to the current comparable period, in order to exclude the effects of foreign currency rate fluctuations for purposes of evaluating period-over-period comparisons. See the Latin America pawn segment tables elsewhere in this release for additional reconciliation of certain constant currency amounts to as reported GAAP amounts.

    FIRSTCASH HOLDINGS, INC.
    RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES
    TO GAAP FINANCIAL MEASURES (CONTINUED)
    (UNAUDITED)
     

    Exchange Rates for the Mexican Peso, Guatemalan Quetzal and Colombian Peso

      June 30,   Favorable /
      2025   2024   (Unfavorable)
    Mexican peso / U.S. dollar exchange rate:              
    End-of-period 18.9   18.4     (3 ) %
    Three months ended 19.5   17.2     (13 ) %
    Six months ended 20.0   17.1     (17 ) %
                   
    Guatemalan quetzal / U.S. dollar exchange rate:              
    End-of-period 7.7   7.8     1   %
    Three months ended 7.7   7.8     1   %
    Six months ended 7.7   7.8     1   %
                   
    Colombian peso / U.S. dollar exchange rate:              
    End-of-period 4,070   4,148     2   %
    Three months ended 4,199   3,927     (7 ) %
    Six months ended 4,195   3,921     (7 ) %

    The MIL Network –

  • MIL-OSI Security: Smuggler of Firearms from Key West to Haiti Sentenced in D.C. to 30 Months in Prison

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

                WASHINGTON – Jean Wiltene Eugene, 57, of Key West, Florida, was sentenced today in U.S. District Court to 30 months in prison and a $20,000 fine for his role in a gunrunning operation that illegally exported firearms to Haiti, announced U.S. Attorney Jeanine Ferris Pirro.

                Eugene pleaded guilty on April 11, 2025, to one count of smuggling. In addition to the prison term, Judge Carl J. Nichols ordered Eugene to serve 24 months of supervised release.

                Joining in the announcement of the sentence were Assistant Attorney General John A. Eisenberg of the Justice Department’s National Security Division, and FBI Acting Special Agent in Charge Justin Fleck of the Miami Field Office.

                According to court documents, Eugene is a U.S. citizen who was born in Haiti and resides in Key West. On Sept. 23, 2021, Eugene knowingly exported more than two firearms from the United States to Haiti contrary to U.S. laws and regulations, including the prohibitions in the Export Administration Regulations and the Export Control Reform Act of 2018, knowing the firearms were intended for exportation contrary to such laws and regulations. In particular, Eugene exported the firearms without having first obtained the required license from the Bureau of Industry and Security, located in the District of Columbia. Anyone who violates the smuggling statute may be fined up to $250,000 and imprisoned for up to 10 years.

                Eugene arranged to ship vehicles to Haiti through a Florida-based export company. Eugene signed the company’s terms and conditions of shipments, which required the shipper to affirm that the vehicles did not contain any firearms or ammunition. In a subsequent interview with law enforcement, Eugene admitted that, in 2020 and 2021, he shipped two vehicles to Haiti with firearms hidden inside. Eugene stated that he placed food and other items around the bins holding the firearms so border authorities would not find the weapons.

                In a later interview with federal agents, Eugene stated that nine firearms he purchased in Key West under his name were currently located at his gas station in Haiti and that none of those firearms remained in the United States. He admitted that he knew it was illegal to ship weapons to Haiti when confronted by the federal agents.

                Eugene was arrested May 4, 2024, in Key West.

                This case was investigated by the FBI Miami Field Office with assistance from the Bureau of Alcohol, Tobacco, Firearms and Explosives and the Department of Commerce’s Office of Export Enforcement. It was prosecuted by Assistant U.S. Attorney Kimberly Paschall and Trial Attorney Beau Barnes of the National Security Division, as well as former Assistant U.S. Attorney Pravallika Palacharla. Substantial assistance was provided by the United States Attorney’s Office for the Southern District of Florida.

    25cr78

    MIL Security OSI –