NewzIntel.com

Category: Machine Learning

  • MIL-OSI: Global Expansion of Turbo Energy Gains Momentum with Launch of Turbo Energy Solutions’ New Business Line in Latin America

    Source: GlobeNewswire (MIL-OSI)

    Introduces New Energy-as-a-Service (EaaS) Financing Model to Mitigate Large Initial Investments in Sustainable Energy Technologies by Customers in Chile

    Performance of the First SUNBOX Industry Installation in Temuco, Chile Successfully Put to the Test During Recent Massive Country-Wide Blackout Just Days After Activation

    VALENCIA, Spain, March 19, 2025 (GLOBE NEWSWIRE) — Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today proudly announced its expansion into Latin America with the formation of Turbo Energy Solutions (“TES”), a wholly owned subsidiary of the Company created to offer advanced, fully integrated, end-to-end solutions for scalable generation, storage and intelligent AI-optimized management of solar energy for commercial and industrial (“C&I”) customers in Chile.

    Turbo Energy Solutions, in collaboration with the Molina Brothers’ Smart Dock group, complete installation of Latin America’s first fully integrated solar generation, storage and AI-optimized energy management system at Alto Labranzo Shopping Center in Chile

    Through TES, the Company has also introduced its new Energy-as-a-Service financing program, which enables C&I customers in Chile to acquire, deploy and capitalize on advanced solar energy production systems integrated with SUNBOX Industry and its innovative AI-powered energy management system, without the need to make large upfront investments in equipment. Customers benefit from an optimized, efficient and sustainable energy supply while also taking full economic advantage of a payment system based on SUNBOX Industry’s AI-powered energy management performance. The EaaS financing program represents a potentially lucrative new recurring revenue stream for Turbo Energy that is expected to fuel exponential growth for the Company as market acceptance and adoption of SUNBOX Industry gains momentum in the region.

    Senior officials from Turbo Energy Solutions and the Smart Dock industrial group: (left to right) Andres Molina, TES Business Partner; Rafael Gonzalez, TES Solar Self-Consumption Director; Agustin Molina, TES Business Partner; Santiago Molina, TES Business Partner; Felipe Bozzo, TES LATAM Strategy Director; Javier Ferrer, TES Business Development Manager, SUNBOX Industry

    Marking the first project in partnership with the Smart Dock industrial group, an enterprise owned and operated by Chile’s prominent Molina Garcia family, TES completed the debut installation of the SUNBOX Industry smart energy storage system in the Alto Labranza shopping center located in Temuco, Chile. The full project involved the implementation of a hybrid solar generation and active storage system consisting of a photovoltaic installation integrated with the SUNBOX Industry system featuring 102.4 kWh of capacity and supported by Turbo Energy’s AI-optimized energy management system. It is estimated that Alto Labranza will produce more than 147 MWh of clean energy annually, while optimizing its energy efficiency.

    Within days following the live activation of the system at Alto Labranza, on February 26, 2025, Chile suffered a massive blackout that affected much of the country, from Arica to the Los Lagos region, including the nation’s capital, Santiago. Despite the widespread power outage, the Alto Labranza shopping center remained fully operational without interruptions, validating the viability, reliability and efficiency of renewable energy and smart storage in the operation of commercial facilities.

    “The installation in the Labranza center signifies the achievement of double milestones for our Company. On the one hand, it represents Turbo Energy’s entry into a leading country in renewable energy with an innovative business model, further demonstrating that execution of our planned global expansion initiative is on track and gaining traction. On the other hand, it represents the first smart storage system implemented in Latin America, setting a precedent for the incorporation of new models that promote the economic decarbonization of this high growth region,” said Mariano Soria, CEO of Turbo Energy.

    For more information on SUNBOX Industry smart energy storage solutions, please email Turbo Energy at sales@Turbo-e.com.  

    About Turbo Energy, S.A.

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

    Forward-Looking Statements

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

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

    Attachments

    The MIL Network –

  • MIL-OSI: Annual Report for the year ended 30 November 2024 and Notice of Meeting

    Source: GlobeNewswire (MIL-OSI)

    OCTOPUS AIM VCT 2 PLC

    Annual Report for the year ended 30 November 2024 and Notice of Meeting

    Further to the announcement of annual results for the year ended 30 November 2024, Octopus AIM VCT 2 plc (the ‘Company’) announces that the Annual Report has been posted or otherwise made available to shareholders. A copy of the Annual Report is also available to view on the Company’s website at http://www.octopusinvestments.com

    The Annual Report includes the Notice of Meeting for the Annual General Meeting of the Company to be held on 23 May 2025.

    The Annual Report, together with the Form of Proxy, has been submitted to the Financial Conduct Authority’s Electronic Submission System and is available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

    For further information please contact:

    Rachel Peat

    Octopus Company Secretarial Services Limited
    Tel: +44 (0)80 0316 2067

    LEI: 213800BW27BKJCI35L17

    The MIL Network –

  • MIL-OSI Africa: Deputy President stresses importance of coordinated approach to challenges

    Source: South Africa News Agency

    Deputy President Paul Mashatile has stressed the need for a coordinated approach to peacebuilding and economic resilience.

    This as he highlighted that the conflicts between Russia and Ukraine and conflicts in the eastern Democratic Republic of Congo, Sudan, in the Sahel, and in Gaza, continue to exert a heavy human toll while heightening global insecurity. 

    The Deputy President was speaking at the United Nations University (UNU) in Tokyo, Japan on Tuesday. 

    The UNU, in partnership with the Embassy of South Africa in Japan, is co-hosting a symposium exploring South Africa’s G20 Presidency and steps to ensure solidarity, equality and sustainability for all. 

    Touching on the deepening conflict and instability across Africa and the world, the Deputy President said this requires coordinated preventive action including dedicated intervention on peace building that is programmatic in nature.

    “We are encouraged by the partnership between the United Nations University and the University of South Africa (UNISA) in cooperation with other relevant partner organisations to co-design and co-deliver required capacity building programmes for African leaders and mediators for resolving conflicts and blazing a path towards achieving peace, security and prosperity, “the Deputy President explained.

    He further emphasised the urgent need for comprehensive, African-centred peace-building research and training programmes that span throughout Africa to address the urgent demand for capacity for conflict management and resolution, as well as society reconstruction.

    G20 Presidency

    “In our G20 Presidency, South Africa will continue to advocate for diplomatic solutions. Inclusive dialogue is the foremost guarantor of sustainable peace.
    “South Africa has shown a firm resolve in its foreign policy by promoting principles of justice, solidarity, equality, peace, and respect, underpinned by its commitment to human dignity and leaving no one behind,” he said. 

    This was the reason South Africa has placed solidarity, equality, sustainability at the centre of its G20 Presidency.

    As part of South Africa’s G20 intention to place Africa’s development at the top of the agenda, Mashatile outlined four key priorities which are strengthening disaster resilience, ensuring debt sustainability for developing economies, mobilising finance for a just energy transition, and harnessing critical minerals for sustainable growth. 

    “Our hosting of the G20 Finance Ministers and Central Bank Governors Meeting, and the Business 20 provided an opportunity for us to promote South Africa and Africa as a business and investment destination and for the country to take the lead on providing solutions to global economic challenges,” he said. 

    He emphasised the country’s commitment to driving economic reforms, increasing investor confidence, and enhancing structural efficiencies in energy, water, and transport sectors.

    “We believe that addressing structural concerns is essential to maintaining investor confidence and ensuring long-term economic stability. It is only by accelerating structural reforms and harnessing the power of the private sector that the country can sustain economic momentum and attract further foreign investment.

    “As the South African government, we are implementing extensive structural, policy, and regulatory reforms to enhance the economy’s performance,” he said. 

    AI role in shaping Africa’s economic future

    The Deputy President also emphasised the role of artificial intelligence (AI) and digital transformation in shaping Africa’s economic future, calling for greater collaboration between African institutions and international organisations. 

    Quoting Professor Tshilidzi Marwala, he noted the need for South Africa to embrace AI while also ensuring ethical considerations remain central to its deployment. 

    He urged institutions like UNU to partner with African universities to foster digital skills development and AI-driven innovation.

    As the G20 Presidency has shifted to South Africa, the Deputy President said that AI has emerged as a key area of focus.

    Through the G20 Presidency, he said the country aims to harness AI to advance the Sustainable Development Goals agenda and address global challenges.

    “We encourage the United Nations University to work alongside Africa in the development of AI, which has the potential to considerably boost the continent’s economies. You must cooperate with additional universities in South Africa and throughout Africa to help overcome digital barriers, promote equality, and support inclusive sustainable development,” he said. 

    Mashatile added that African governments are also recognising the importance of the digital economy, which is heavily influenced by artificial intelligence. He noted that the digital economy and AI are becoming more important drivers of economic and social value creation throughout the world. 

    “We are investing in digital infrastructure, skills development, and entrepreneurship to assist Africa’s digital economy to expand,” he said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: Coalesce Expands Data Platform With CastorDoc Acquisition and Introduces Catalog

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, March 19, 2025 (GLOBE NEWSWIRE) — Coalesce, the data transformation company, has acquired CastorDoc, the AI-powered data catalog company. With the acquisition, CastorDoc is now Coalesce Catalog, an intuitive, AI-driven metadata management solution for modern data teams. While the name has changed, the product remains the same—continuing to deliver industry-leading data governance and discovery as part of the Coalesce product suite.

    This acquisition expands Coalesce’s data transformation platform with dynamic metadata management and AI-assisted discoverability features. The integration provides immediate benefits for all data consumers by offering full visibility into data flow from source to insight, while establishing a long-term vision of embedding governance into the data development process from the start, rather than as an afterthought.

    Coalesce Catalog’s AI-powered data catalog and intuitive documentation capabilities democratize data access, allowing technical and non-technical customers to understand and interact with information via AI agents. This acquisition aligns with Coalesce’s mission to simplify data transformation, bridging the gap between engineers, analysts, and business leaders to reduce complexity in the data ecosystem.

    “Maximizing value for every data practitioner is core to the Coalesce mission. We’re thrilled to be the first Modern Data Stack vendor to make a cross-category acquisition with CastorDoc, whose team and vision align perfectly with ours,” said Armon Petrossian, Co-founder and CEO of Coalesce. “This strategic move accelerates our innovation roadmap, offering customers and partners an integrated data transformation and governance solution that’s unmatched in today’s market.”

    A Defining Moment for the Modern Data Stack

    “This is a pivotal moment for the Modern Data Stack. While many have predicted consolidation, this is the first true example of two high-growth, early-stage companies joining forces across different parts of the stack,” said Sanjeev Mohan, Principal at SanjMo and former Research VP at Gartner. “By combining best-in-class capabilities across transformation and data governance, this move expands Coalesce’s total addressable market and sets a new precedent for how data teams utilize tightly integrated, multi-cloud solutions that span multiple stages of the data lifecycle.”

    A Phased Approach to Product Integration
    The strategic roadmap outlines an incremental approach to deepening product connectivity:

    • Short-term: Automated lineage tracking from source to business intelligence, improved discoverability, and AI-enabled metadata insights.
    • Long-term: A fully integrated platform with governance, observability, and intelligence capabilities embedded into the data transformation lifecycle. Powered by agentic AI, the platform will automate data management, adapt to business needs, and enhance decision-making at every stage, allowing people to build, manage, and consume trusted data efficiently.

    For current CastorDoc customers, nothing changes except the name—the product experience remains the same, and all existing functionality continues as is. With Coalesce, customers can expect significant investments in innovation and expanded capabilities—all enabled by AI automation.

    Expanding Coalesce’s Vision for Data Management
    This acquisition strengthens the Coalesce transformation platform beyond data teams—empowering more users with greater access to trusted data. This integration will:

    • Enable end-to-end data lineage & visibility: Track data transformations, dependencies, and historical context from ingestion to business intelligence apps, improving transparency and trust.
    • Strengthen AI-powered development & knowledge sharing: Empower teams to accelerate data transformation and collaboration using AI, making data more accessible and improving quality without compromising governance.
    • Embed governance into data workflows: Move governance from a disconnected, after-the-fact process to an integrated, proactive approach embedded directly into data transformation. By shifting governance left, business definitions and compliance policies become part of data development from the start—ensuring accuracy, trust, and collaboration between technical and business teams, without slowing them down.
    • Leverage dynamic metadata for smarter decisions: Move beyond static catalogs with dynamic metadata management, providing detailed context and enabling real-time decision-making, automation, and knowledge sharing.
    • Enhance collaboration across teams: Empower engineers, analysts, and business users to build, manage, and utilize data assets confidently within a shared, AI-enhanced environment.
    • Scale with an intelligent data transformation platform: Unify data pipeline development, discoverability, and governance into a single platform, allowing organizations to build, govern, and innovate at any scale.

    “We built CastorDoc to make data accessible to everyone by providing an AI-driven catalog that helps people document, discover, and navigate their data effortlessly,” said Tristan Mayer, Co-founder and CEO of CastorDoc. “Joining Coalesce allows us to accelerate this mission, empowering technical and non-technical professionals with trusted, high-quality data. We’re excited for what’s ahead.”

    For more information on this acquisition and what it means for customers, visit Building the Future of Data Together: Why Coalesce Acquired CastorDoc.

    About Coalesce
    Coalesce transforms how data teams work by simplifying data development and governance. The platform enables data practitioners of all skill levels to build, discover, and scale data projects with unprecedented speed and quality. Designed for flexibility, Coalesce empowers organizations to accelerate the delivery and consumption of trusted, enterprise-ready data—while reducing time and effort tenfold. Learn more at Coalesce.io.

    The MIL Network –

  • MIL-OSI: Oxbridge / SurancePlus Announces Partnership with Plume, Expanding Access to Millions of Potential Investors

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, March 19, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), through its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities, today announced SurancePlus’ partnership with Plume, a leading blockchain optimized for Real-World Asset Finance (RWAfi). This collaboration aims to significantly expand the distribution of SurancePlus’ 2025-2026 tokenized reinsurance securities – EtaCat Re and ZetaCat Re – which target annual returns of 20% and 42%, respectively.

    Plume provides an extensive ecosystem for distributing tokenized assets, making this collaboration a significant step toward increasing investor participation in high-yield, RWA backed securities. Plume provides seamless RWA distribution to over 18 million unique addresses, facilitating more than 280 million transactions, with $4.5 billion in committed assets on its platform. This underscores its influence in the tokenized finance space, presenting a valuable distribution opportunity for SurancePlus’ securities.

    Jay Madhu, CEO of Oxbridge, commented, “Announcing this partnership at Digital Assets Summit 2025 aligns perfectly with our vision of democratizing access to institutional-grade reinsurance investments. Plume’s ecosystem presents a strong opportunity to expand the distribution of our 2025 reinsurance securities and connect with a broader audience of investors seeking high yield opportunities that are uncorrelated to the capital markets. SurancePlus’ parent company, Nasdaq-listed Oxbridge, brings critical elements of compliance and transparency, bridging the gap between blockchain/RWAs and the SEC.”

    Chris Yin, CEO & Co-Founder of Plume, commented: “Plume is committed to bridging traditional finance and blockchain by offering access to yield-bearing real world assets. Working with SurancePlus aligns perfectly with our mission. Their balanced yield offering, EtaCat Re, and their high-yield offering, ZetaCat Re, represent exactly the type of opportunities our investors are looking for.”

    Why This Collaboration Matters

    • Expanded Investor Reach: Plume’s extensive ecosystem and DeFi infrastructure provide immediate access to millions of active users, significantly broadening the potential investor base for EtaCat Re and ZetaCat Re.
    • Efficient & Scalable Distribution: Plume’s full-stack, vertically integrated technology ensures seamless issuance, trading, and integration of RWAs, enhancing the liquidity and accessibility of SurancePlus’ tokenized securities.
    • Alignment with Institutional & Retail Demand: Plume specializes in connecting investors with yield-generating RWAs, ensuring that SurancePlus’ offerings reach the right audience – those seeking stable, transparent, and high-yield investment opportunities.

    By integrating with Plume, SurancePlus builds on its position as a leader in tokenized reinsurance securities, reinforcing its commitment to providing investors with access to fully collateralized, high-return digital securities backed by real-world reinsurance contracts.

    Disclaimer: This press release does not constitute an offer to sell nor a solicitation of an offer to buy the ZetaCat Re or EtaCat Re tokenenized reinsurance securities (the “Securities”). The Securities are not required to be, and have not been, registered under the United States Securities Act of 1933, as amended, in reliance on the exemptions provided by Regulation S and SEC Rule 506(c) thereunder. Offers and sales of the Securities are made only by, and pursuant to, the terms set forth in the Confidential Private Placement Memorandum relating to the Securities. The offering of the Securities is not being made to persons in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction.

    About Oxbridge Re Holdings Limited

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non U.S. investors.

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    About Plume

    Plume is the first full-stack L1 RWA chain purpose-built for Real World Asset Finance (RWAfi), enabling the integration and adoption of real world assets through its ecosystem. With 180+ protocols building on the network and a $25M RWAfi Ecosystem Fund for early-stage projects, Plume offers a composable, EVM-compatible environment for onboarding and managing diverse real world assets. Coupled with an end-to-end tokenization engine and a network of financial infrastructure partners, Plume enables seamless DeFi integration for RWAs so anyone can tokenize real world assets, distribute them globally, and make them useful for blockchain native users.

    Learn More:
    https://plumenetwork.xyz and https://x.com/plumenetwork

    Company Contact:
    press@plumenetwork.xyz

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2024 and in our other filings with the SEC. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

    The MIL Network –

  • MIL-OSI: SpyCloud’s 2025 Identity Exposure Report Reveals Surging Identity-Based Threats as Stolen Identity Records Increase 22% from Last Year

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, March 19, 2025 (GLOBE NEWSWIRE) — SpyCloud, the leader in identity threat protection, today released its 2025 SpyCloud Annual Identity Exposure Report, uncovering the staggering scale of digital identity sprawl, the growing risks organizations face, and actionable insights to combat cyber threats before they escalate.

    SpyCloud has recaptured 53.3 billion distinct identity records, a 22% increase from 2023, underscoring the increasing prevalence of stolen data such as credentials and personally identifiable information (PII) circulating the darknet. These identity records, consisting of harvested employee, consumer, and supply chain data, are the fuel that power cyberattacks like ransomware, account takeover, and fraud – nearly 80% of breaches last year involved the use of stolen credentials. 

    Despite this surge in identity-based threats, many organizations remain unaware of the massive breadth of digital identity data stolen from users, traded among cybercriminals, and leveraged to infiltrate organizations.

    “Traditional security models focus on an isolated exposure data point, like a single stolen password or breached email, without accounting for the full picture of an individual’s digital footprint and other potential exposures,” said Damon Fleury, Chief Product Officer at SpyCloud. “But modern threats are far more complex. At SpyCloud, we’ve pioneered a holistic approach to identity security, mapping exposures across breaches, malware infections, phishing campaigns, and combolists to reveal the true scale of risk from compromised users. This shift is essential for defenders to proactively mitigate threats from stolen identity data before they escalate into full-scale cyberattacks.”

    Key Findings from the 2025 Annual Identity Exposure Report:

    The True Scale of Identity Exposure is Greater Than Previously Estimated

    By applying proprietary holistic identity matching, SpyCloud researchers discovered that the actual scale of exposure is, on average, more than twelve times larger than previously estimated – providing security teams with a clearer, more actionable picture of identity risk:

    • 146 identity records per corporate user → compared to just 11 using traditional methods
    • 141 stolen credential pairs per user → versus just 7 with legacy visibility
    • 74% of recaptured consumer records include location data, increasing risks of fraud and identity theft

    With a holistic approach to identity security, enterprises can move beyond isolated credential leaks and better understand their interconnected exposures – empowering them to act before an attack occurs.

    Infostealer Malware: The Primary Driver of Modern Cybercrime

    Infostealer malware – stealthy, highly efficient tools that extract user information, browser cookies, and system details from infected devices – has emerged as one of the most persistent and dangerous threats to enterprise security. SpyCloud recaptures data from more than 75 different malware families including LummaC2, Redline Stealer, and Vidar. This year’s research into the recaptured data from those families found that:

    • About 1 in 2 of corporate users were exposed through infostealer malware in the past year through a personal or corporate device
    • 7 million stolen credentials for third-party applications were recaptured—a 48% increase from last year. Trending third-party application targets include:
      • 895,802 stolen credentials for enterprise AI tools, exposing sensitive business insights and proprietary data
      • 159,313 stolen credentials from password managers, undermining critical security layers
    • 17 billion stolen cookies were recaptured, enabling attackers to side-step multi-factor authentication (MFA) and hijack active sessions

    Infostealers’ role in identity exposures has real, lasting effects on businesses and individuals. Last year, nearly one-third of companies that suffered a ransomware attack had previously experienced an infostealer infection.

    Phishing: A Growing Threat Fueled by AI and Phishing-as-a-Service (PhaaS)

    Phishing tactics evolved in 2024, becoming more sophisticated with AI-driven campaigns and turnkey PhaaS platforms. Attackers increasingly targeted high-value data, including personal and corporate credentials, financial accounts, and session cookies. SpyCloud’s 2025 research reveals:

    • 97% of recaptured phished data contains email addresses
    • 64% contains IP addresses
    • 51% contains city or postal codes, increasing risks of location-based fraud

    PII Exposure Surges, Fueling Identity Fraud

    The exposure of PII reached 44.8 billion recaptured records in 2024 – a 39% increase from the previous year – due in large part to breaches such as the Mother of All Breaches (MOAB) and the National Public Data Breach. Both exploding the available PII circulating the criminal underground and still providing cybercriminals with the raw materials to commit identity fraud and financial crimes. Key exposed PII data points include:

    • 3.05 billion Social Security and national ID numbers
    • 4.4 billion full names
    • 2.8 billion phone numbers
    • 42.97 million passport and driver’s license numbers
    • 36.97 million credit card numbers

    Cybercriminals are also capitalizing on sprawling digital identities and expanding their targets to include other forms of credentials. SpyCloud also recaptured 33.1 million exposed API keys and 147,132 compromised cryptowallet addresses, highlighting critical vulnerabilities in modern digital ecosystems.

    Weak Password Practices Continue to Undermine Security

    Despite growing awareness of identity threats, weak password practices remain a constant source of risk, making users easy targets for automated credential stuffing and account takeover attacks:

    • 3.1 billion exposed passwords were recaptured – a 125% increase from last year
    • 70% of users exposed in breaches last year reused previously-exposed passwords across multiple accounts, up from 61% in 2023
    • Most commonly exposed passwords include: “123456,” “Admin,” “Qwerty”
    • Pop culture continues to drive popular password choices. While these passwords are personal to the users, they are predictable and continue to reign as a top entry point for threat actors.
      • Almost 3 billion referenced the fall season
      • 7.5 million referenced major international events in tennis 
      • Over 7 million referenced cats 
      • Passwords influenced by video games surged, including passwords related to The Legend of Zelda (2 million), Super Mario Brothers (almost 1.5 million) and Fortnite (almost 1 million)
      • Passwords influenced by the year’s hottest artists such as Taylor Swift (1.5 million) and Charli XCX (295,000) were also common

    Looking Ahead: Proactive Identity Protection is Critical

    As identity threats continue to evolve, organizations must adopt a proactive, holistic approach to identity security. Defending against cybercrime requires continuous monitoring for dark web identity exposures, rapid and automated remediation of stolen identity data, and enhanced security measures to combat emerging threats.

    “The rise of infostealer malware and ever-evolving phishing attacks created a surge in the theft of sensitive identity data, but the size and scale of breaches like MOAB and NPD demonstrate traditional attack methods continue to be dangerous,” said Trevor Hilligoss, Senior Vice President of Security Research, SpyCloud Labs at SpyCloud. “In an era where identity data is cybercriminals’ most valuable currency, organizations must think beyond traditional security perimeters and leverage intelligence from the criminal underground to disrupt cybercrime before it strikes.”

    Read the full 2025 SpyCloud Identity Exposure Report here.

    About SpyCloud

    SpyCloud transforms recaptured darknet data to disrupt cybercrime. Its automated holistic identity threat protection solutions leverage advanced analytics to proactively prevent ransomware and account takeover, safeguard employee and consumer accounts, and accelerate cybercrime investigations. SpyCloud’s data from breaches, malware-infected devices, and successful phishes also powers many popular dark web monitoring and identity theft protection offerings. Customers include seven of the Fortune 10, along with hundreds of global enterprises, mid-sized companies, and government agencies worldwide. Headquartered in Austin, TX, SpyCloud is home to more than 200 cybersecurity experts whose mission is to protect businesses and consumers from the stolen identity data criminals are using to target them now.

    To learn more and see insights, users can visit spycloud.com.

    Contact:
    Emily Brown
    REQ on behalf of SpyCloud
    spycloud@req.co

    The MIL Network –

  • MIL-OSI: Coralogix Leverages Aporia Acquisition to Deliver True AI Observability, Detecting Hallucinations, Data Leakage, Toxicity and More

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, March 19, 2025 (GLOBE NEWSWIRE) — Coralogix, the leading full-stack observability platform, today launched its AI Center, which empowers organizations with real-time visibility into all of their AI applications. By delivering comprehensive, real-time insights into AI performance, quality, security, and governance within a single platform, the AI Center empowers businesses to accelerate AI adoption and manage AI agents with confidence.

    According to the National Institute of Standards and Technology (NIST), AI applications require rigorous oversight, as inadequate management can lead to unforeseen or inequitable outcomes. Existing AI observability approaches fall short by focusing on performance vs. other attributes that impact effective usage.

    Coralogix tackles this issue by observing with customizable evaluators that address the “grey areas,” i.e. when AI appears to perform correctly, but has issues related to its responses. Unlike other vendors, Coralogix reviews the content of the user and the AI to determine whether, for example, there is a chance that an exchange contains toxicity, the AI is hallucinating, or a bad actor is trying to breach the chatbot to steal customer data.

    With this addition, Coralogix is now the first cross-stack observability platform, transforming how businesses analyze their software, security, and AI systems. The company’s unique ability to analyze data in real-time as it’s ingested provides businesses with real-time monitoring, advanced analytics, and incident management, all while significantly reducing costs and time-to-insight.

    “AI is not just another technology layer; it’s a distinct stack with its own complexities and risks,” said Ariel Assaraf, CEO of Coralogix. “Our AI Center delivers real-time transparency into every aspect of that stack, ensuring organizations can monitor, troubleshoot, and secure their AI initiatives before minor errors become major crises. This launch represents a significant step forward in our mission to provide the most advanced cross-stack observability platform imaginable.”

    With over 2,000 enterprise customers globally, Coralogix has long led observability innovation. In December 2024, the company acquired Aporia, a leading provider of AI observability and guardrails. That acquisition fueled the rapid development of advanced AI solutions, culminating in today’s launch.

    Coralogix’s AI Center Provides:

    • AI Evaluation Engine: Allows users to evaluate AI applications for quality, correctness, security and compliance. Moreover, they can tailor specialized evaluators for each AI use case. The evaluators actively assess each interaction, scanning every prompt and response for potential risks or quality issues.
    • AI-SPM (Security Posture Management): Provides real-time, dedicated monitoring of the security and performance of AI agents across an organization. Its dashboards highlight risks such as prompt injections, data leaks, and PII leakage, allowing teams to pinpoint and address breaches or security risks.
    • Complete User Journey & Cost Tracking: Provides full visibility into user interactions, from conversation histories and logins to token usage. This granular tracking enables teams to pinpoint suspicious resource consumption, detect cost harvesting attempts, and optimize budgets without compromising performance.
    • Performance Metrics: Delivers in-depth insights into AI agent performance. It detects issues like poor response accuracy, latency spikes, and malicious user inputs, enabling teams to resolve underperforming agents before they impact the user experience. By focusing on AI-specific metrics, organizations can ensure a seamless, high-quality AI environment.

    “The launch of our AI Center unlocks a significant barrier faced by many AI teams – crossing the chasm from pilot to production,” commented Liran Hason, VP of AI, Coralogix and previously CEO of Aporia. “Having a centralized place to observe and manage all your AI applications for performance, quality and security is the key missing piece to launching AI apps safely.”

    “Acquiring Aporia enabled us to rapidly deliver real-time AI observability and establish our new AI Research Center,” said Yoni Farin, CTO and Co-founder of Coralogix. “This expansion goes beyond observability; we’re investing in top-tier talent to build the next generation of AI-driven solutions for our customers worldwide.”

    About Coralogix

    Coralogix is a modern, cross-stack observability platform that enables businesses to monitor and manage data in real time, providing instant insights without the need for complex storage solutions. The platform supports application performance monitoring (APM), security information and event management (SIEM), real user monitoring (RUM), and infrastructure monitoring, offering complete visibility into AI performance, security, and governance in a single solution. Coralogix offers a simple pricing model based on data volume, along with world-class support that ensures rapid response times and swift resolutions.

    Following the acquisition of Aporia in December 2024, Coralogix expanded into AI observability, giving businesses the ability to monitor and govern generative AI models with full transparency. To learn more about how Coralogix can help your business, visit www.coralogix.com.

    PR Contact

    Mark Prindle

    mark.prindle@fusionpr.com

    The MIL Network –

  • MIL-OSI Africa: Mashatile to lead official World TB Day and National End TB campaign

    Source: South Africa News Agency

    The Chairperson of the South African National AIDS Council (SANAC), Deputy President Paul Mashatile, will deliver the keynote address at the national World TB Day commemorative event on Monday, 24 March 2025. 

    World TB Day is commemorated annually on the 24th of March to raise public awareness about the global epidemic of tuberculosis (TB) and highlight efforts to eliminate the disease. 

    The day is also designated to highlight the devastating health, social and economic impact of TB. 

    During the event on Monday, the Deputy President will also launch the National End TB Campaign at the Ugu Sports and Leisure Centre in Gamalakhe Township, Ugu District, KwaZulu-Natal.

    According to the Presidency, South Africa is one of the countries most affected by TB and remains the leading cause of death in the country, claiming approximately 56 000 lives each year, with 54% of these deaths among people living with HIV.

    This year’s official country theme for World TB Day is “Yes! You and I Can End TB – Commit, Invest, Deliver”.

    “This is a clarion call for leaders to champion TB efforts in their respective constituencies and encourage individual action from all South Africans to contribute to the national effort against TB.“

    The Deputy President’s Office said the significance of this year’s commemoration will be marked by the launch of the National End TB campaign designed to substantially reduce TB incidence and mortality in South Africa by 2035. 

    This campaign will be carried out in phases, beginning with a focus on case finding and linking patients to care in the year 2025/26.

    The campaign aims to diagnose 250 000 new TB cases by 2025/26 through targeted testing of five million people. 

    This will be accomplished by implementing Accelerated Targeted Universal TB Testing (TUTT) to reach individuals living with HIV and household contacts with confirmed TB cases.

    The Deputy President will be joined by the Minister of Health Dr Aaron Motsoaledi, Premier of KwaZulu-Natal Thamsanqa Ntuli, SANAC Civil Society Chairperson Solly Nduku, Chairperson of the SANAC Private Sector Forum Mpumi Zikalala, and SANAC CEO Dr Thembi Xulu. 

    They will also be joined by representatives from development partners inclusive of the United Nations agencies, United States government agencies, research entities, civil society movements and the private sector. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI: GigaOm Recognizes Infinidat as a Leader and a Fast Mover in Storage as a Service

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., March 19, 2025 (GLOBE NEWSWIRE) — Infinidat, a leading provider of enterprise storage solutions, today announced that GigaOm, a leading IT analyst firm, has recognized Infinidat as a Leader and a Fast Mover in the 2025 GigaOm Sonar Report for Storage as a Service (STaaS). GigaOm analysts cited Infinidat’s STaaS platform as “an excellent choice for enterprises requiring high-performance storage for mission-critical applications.” Details are available in the 2025 GigaOm Sonar Report for Storage as a Service.

    “It’s outstanding that Infinidat continues to be recognized for our innovation and our feature-rich platform for Storage as a Service,” said Eric Herzog, CMO at Infinidat. “We’re pleased that GigaOm’s independent analysis of Infinidat recognizes us as a Leader. Infinidat’s high performance, scalability, 100% availability and cyber storage resilience capabilities make our Storage as a Service platform ideal for enterprises requiring robust storage solutions capable of delivering reliable performance, real-time scaling, and cyber protection in large-scale operations. Infinidat offers an extremely competitive STaaS solution that is worthy of being in every conversation about storage services in high-end enterprises.”

    “Organizations with dynamic workloads will benefit from Infinidat’s scalability and AI-driven optimization,” said GigaOm Analyst James Brown. “Infinidat is particularly well suited for industries with high-performance storage needs, such as financial services, healthcare, and technology. Its ultra-low latency, robust reliability, cyber storage resilience, and cyber recovery capabilities make it ideal for real-time applications, including trading platforms, AI/ML workloads, and analytics. Enterprises with a focus on data security and regulatory compliance will appreciate Infinidat’s comprehensive cyber protection features, ensuring sensitive information is safeguarded at all times.”

    According to GigaOm, “Storage as a Service (STaaS) transforms how companies consume storage infrastructure by combining the elasticity and flexibility of cloud consumption models with the control and performance of on-premises solutions.” The analyst firm also states that STaaS is “a vital driver of digital transformation,” as more enterprises increasingly realize the benefits of hybrid approaches. STaaS provides SaaS-like, flexible consumption models, pay-as-you-go pricing, and dynamic storage capacity management. GigaOm calls STaaS “a game-changing cloud storage solution” with a quick deployment model that ensures “faster time-to-value.”

    GigaOm’s 2025 Sonar Report identifies the following as Infinidat’s greatest strengths for Storage as a Service:

    • Cost and billing granularity: Infinidat’s InfiniVerse® platform offers highly granular, daily usage tracking with transparent, predictable pricing.
    • Scalability for expansion: The platform supports real-time scaling with pre-provisioned resources, ensuring seamless performance under high demand.
    • Ease of use: Infinidat delivers predictable analytics and self-service provisioning tools that enhance user experience.

    GigaOm’s analysts wrote in the report: “Infinidat is classified as a Fast Mover in the Feature Play quadrant, demonstrating its ability to keep pace with evolving customer needs. With a focus on scalability, reliability, and performance, Infinidat has strengthened its position as a viable competitor in the STaaS market. By continuing to expand hybrid cloud capabilities and enhancing its feature set, Infinidat is well-positioned to address the demands of enterprise workloads.”

    The GigaOm report also highlights the Infinidat platform’s operational efficiency and hybrid multi-cloud support. As a standalone offering within Infinidat’s portfolio, the STaaS platform emphasizes operational efficiency through features such as proactive monitoring, intelligent tiering, and seamless scalability. It integrates well with hybrid multi-cloud environments with the InfuzeOS® Cloud Edition, supporting public cloud platforms such as AWS and Azure.

    To download the full analyst report, click the link below:

    About Infinidat
    Infinidat provides enterprises and service providers with a platform-native primary and secondary storage architecture that delivers comprehensive data services based on InfiniVerse®. This unique platform delivers outstanding IT operating benefits, support for modern workloads across on-premises and hybrid multi-cloud environments. Infinidat’s cyber resilient-by-design infrastructure, consumption-based performance, 100% availability, and cyber security guaranteed SLAs align with enterprise IT and business priorities. Infinidat’s award-winning platform-native data services and acclaimed white glove service are continuously recommended by customers. For more information, visit www.infinidat.com.

    Connect with Infinidat
    About Infinidat
    Read our blog
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    Be our partner

    Media Contact
    Infinidat
    Sapna Capoor
    Director of Global Communications
    scapoor@infinidat.com I Mobile: +44 (0) 7789684159

    The MIL Network –

  • MIL-OSI: One Stop Systems Reports Q4 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Strength in both segments contributed to consolidated year-over-year revenue growth for Q4 2024

    Consolidated revenue increased sequentially every quarter throughout 2024, reflecting the success of the Company’s transformation strategy to higher-growth markets

    Management expects double-digit consolidated revenue growth in 2025, driven by anticipated OSS segment revenue of over 20% and consolidated EBITDA break even for the year

    ESCONDIDO, Calif., March 19, 2025 (GLOBE NEWSWIRE) — One Stop Systems, Inc. (“OSS” or the “Company”) (Nasdaq: OSS), a leader in rugged Enterprise Class compute for artificial intelligence (AI), machine learning (ML) autonomy and sensor processing at the edge, reported results for the three- and twelve-month periods ended December 31, 2024. Comparisons for the three- and twelve-month periods are to the same year-ago periods unless otherwise noted.

    “I am pleased to report a return to consolidated year-over-year revenue growth for the fourth quarter, as sales from both our OSS and Bressner segments grew at double digit rates. Throughout 2024 we executed on our multi-year transformation, making significant progress in shifting our business toward higher-margin, higher-growth markets. We invested in our platform, strengthened our pipeline, and deepened collaboration with customers developing high-performance, Enterprise Class, edge computing solutions for both commercial and defense applications,” stated OSS President and CEO, Mike Knowles.

    “As efforts to reposition the Company for revenue growth gained momentum during 2024 and our business model evolved, we adjusted our legacy inventory and program costs to better align with our focus on improving efficiencies and increasing profitability. We believe the progress we made in 2024 strengthened our business, positioning the Company for higher sales and profitability in 2025 and beyond,” concluded Mr. Knowles.

    2024 Fourth-Quarter Financial Summary

    Consolidated revenue was $15.1 million, compared to $13.2 million in the fourth quarter of 2023. The 15.1% year-over-year increase was a result of a $1.3 million increase in Bressner segment revenue and a $642,000 year-over-year increase in OSS segment revenue. The 10% year-over-year increase in OSS segment revenue was primarily due to higher revenue from defense and commercial customers, as well as new customer-funded development orders, aligned directly with the Company’s strategic focus and plan.

    The following table sets forth net revenue by segment for the three months ended December 31, 2024, and December 31, 2023 (Dollars may not calculate due to rounding):

      Three Months Ended
    Entity: December 31, 
    2024
    		   % of Net
    Revenue
    		   December 31, 
    2023
    		   % of Net
    Revenue
    		   % Change  
    OSS $ 7,042,613   46.5 %   $ 6,401,047   48.7 %   10.0 %
    Bressner   8,097,533   53.5 %     6,754,161   51.3 %   19.9 %
    Total net revenue $ 15,140,146   100.0 %   $ 13,155,209   100.0 %   15.1 %
     

    During the fourth quarter ended December 31, 2024, the Company took a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2022.   This charge reduced reported gross margin, net income, and adjusted EBITDA for the three- and twelve-month periods ended December 31, 2024. Management does not currently foresee any further charges related to this customer-funded development contract.  

    Consolidated gross margin percentage was 15.7%, compared to 33.7% in the prior year quarter. Gross margin, excluding the one-time charges, was 23.8%, compared to 33.7% in the same period last year. The decrease in gross margin was primarily due to product mix.

    On a segment basis, the OSS segment had a gross margin of 9.4%, compared to 45.9% for the same period a year ago. OSS segment gross margin, excluding the one-time charges, was 26.8%, compared to 45.9%. The decrease from the same period last year was primarily driven by product mix. The Company’s Bressner segment had a gross margin percentage of 21.2%, compared to 22.2% in the same period last year.  

    Total operating expenses increased 15.1% to $5.5 million. This increase was predominantly attributable to higher general and administrative costs related to planned sales and program management investments made during the quarter.

    The Company reported a net loss of $3.1 million, or $(0.15) per share, as compared to a net loss of $278,000, or $(0.01) per share, in the prior year period.

    Adjusted EBITDA, a non-GAAP metric, was a loss of $2.3 million, inclusive of $1.2 million in one-time charges, compared to adjusted EBITDA of $322,000 in the prior year period.

    As of December 31, 2024, the Company reported cash and short-term investments of $10.0 million and total working capital of $24.0 million, compared to cash and short-term investments of $11.8 million and total working capital of $35.6 million at December 31, 2023. The reduction in cash and short-term investments was primarily driven by the paydown of $1 million of notes payable.  

    2024 Twelve Months Financial Summary

    Consolidated revenue was $54.7 million, compared to $60.9 million for the same period last year. The 10.2% year-over-year reduction in consolidated revenue was primarily a result of approximately $4.8 million related to a former media customer, for whom shipments ceased in the second quarter of 2023. This decrease was partially offset by higher sales to customers in the military and defense end markets. In addition, Bressner segment revenue declined by $2.0 million on a year-over-year basis, associated with slower economic activity in the German economy.  

    The following table sets forth net revenue by segment for the twelve months ended December 31, 2024, and December 31, 2023 (Dollars may not calculate due to rounding):

      Twelve Months Ended
    Entity: December 31, 
    2024
    		   % of Net
    Revenue
    		   December 31, 
    2023
    		   % of Net
    Revenue
    		   % Change
    OSS $ 24,558,809   44.9 %   $ 28,809,888   47.3 %   (14.8 )%
    Bressner   30,135,550   55.1 %     32,086,910   52.7 %   (6.1 )%
    Total net revenue $ 54,694,358   100.0 %   $ 60,896,798   100.0 %   (10.2 )%
                                 

    For the year ended December 31, 2024, the Company incurred a total of $8.3 million of one-time charges that reduced reported gross margin, net income, and adjusted EBITDA. During the fourth quarter of 2024, the Company took a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2022.   Additionally, during the year, OSS incurred $7.1 million of inventory charges related to obsolete and slow-moving inventory associated with the transition of the Company’s business model and operating strategies, as well as slower adoption and movement in certain commercial and defense edge compute markets. Management does not currently foresee any further significant adjustments to costs related to this customer-funded development contract or inventory charges, outside of historical trends.  

    Consolidated gross margin percentage was 14.1%, compared to 29.5% in the prior year. On a full year basis, consolidated gross margin, excluding one-time charges, was 29.3%, compared to 29.5% in 2023.

    On a segment basis, the Company’s OSS segment had a gross margin of 2.5%, compared to 35.6% for the same period a year ago. OSS segment gross margin, excluding one-time charges, was 36.4%, up from 35.6% for 2023. The Company’s Bressner segment had a gross margin of 23.5%, compared to 24.0% in the same period last year.  

    Total operating expenses decreased 18.6% to $21.1 million. This decrease was predominantly attributable to a charge of $5.6 million for an impairment of goodwill that occurred during the 2023 twelve-month period, the elimination of costs associated with organizational restructuring, timing of certain new product introduction activities and the deployment of engineering resources onto customer funded development efforts, partially offset by increased costs for personnel and for tradeshow participation.

    The Company reported a net loss of $13.6 million, or $(0.65) per share, as compared to a net loss of $6.7 million, or $(0.32) per share, in the prior year. Non-GAAP net loss and loss per share was $11.6 million, or $(0.56) per share, as compared to non-GAAP net loss and loss per share of $415,000, or $(0.02) per share, in the prior year period. Net loss and non-GAAP net loss for the period ended December 31, 2024, are inclusive of $8.3 million of one-time charges.

    Adjusted EBITDA, a non-GAAP metric, was a loss of $10.3 million, inclusive of $7.1 million of inventory-related charges and a $1.2 million contract loss related to a customer-funded development contract that was entered into in 2022, compared to adjusted EBITDA of $1.1 million in the prior year.

    2025 Full Year Outlook

    The Company anticipates consolidated revenue of $59 to $61 million for the full year of 2025. This includes expected OSS segment revenue of approximately $30 million, representing over 20% year-over-year growth in the OSS segment. In addition, the Company expects to be EBITDA break-even for the full year of 2025. Management expects revenue and profitability to improve at a higher rate in the second half of 2025 based on current trends and the Company’s expanding sales pipeline.   

    Conference Call

    OSS will hold a conference call to discuss its results for the fourth quarter of 2024, followed by a question-and-answer period.

    Date: Wednesday, March 19, 2025
    Time: 10:00 a.m. ET (7:00 a.m. PT)
    Toll-free dial-in: 1-800-717-1738
    International dial-in: 1-646-307-1865
    Conference ID: 35863 (required for entry)
    Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1706031&tp_key=7e52a82afd

    A replay of the call will be available after 1:00 p.m. ET on March 19, 2025, through April 2, 2025.

    Toll-free replay: 1-844-512-2921
    International replay: 1-412-317-6671
    Passcode: 1135863

    About One Stop Systems

    One Stop Systems, Inc. (Nasdaq: OSS) is a leader in AI enabled solutions for the demanding ‘edge’. OSS designs and manufactures Enterprise Class compute and storage products that enable rugged AI, sensor fusion and autonomous capabilities without compromise. These hardware and software platforms bring the latest data center performance to harsh and challenging applications, whether they are on land, sea or in the air.

    OSS products include ruggedized servers, compute accelerators, flash storage arrays, and storage acceleration software. These specialized compact products are used across multiple industries and applications, including autonomous trucking and farming, as well as aircraft, drones, ships and vehicles within the defense industry.

    OSS solutions address the entire AI workflow, from high-speed data acquisition to deep learning, training and large-scale inference, and have delivered many industry firsts for industrial OEM and government customers.

    As the fastest growing segment of the multi-billion-dollar edge computing market, AI enabled solutions require—and OSS delivers—the highest level of performance in the most challenging environments without compromise.

    OSS products are available directly or through global distributors. For more information, go to www.onestopsystems.com. You can also follow OSS on X, YouTube, and LinkedIn.

    Non-GAAP Financial Measures

    We believe that the use of adjusted earnings before interest, taxes, depreciation and amortization, or adjusted EBITDA, is helpful for an investor to assess the performance of the Company. The Company defines adjusted EBITDA as income (loss) before interest, taxes, depreciation, amortization, acquisition expense, impairment of long-lived assets, financing costs, government funded programs, fair value adjustments from purchase accounting, stock-based compensation expense, and expenses related to discontinued operations.

    Adjusted EBITDA is not a measurement of financial performance under generally accepted accounting principles in the United States, or GAAP. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash operating expenses, we believe that providing a non-GAAP financial measure that excludes non-cash and non-recurring expenses allows for meaningful comparisons between our core business operating results and those of other companies, as well as providing us with an important tool for financial and operational decision making and for evaluating our own core business operating results over different periods of time.

    Our adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring and unusual items. Our adjusted EBITDA is not a measurement of financial performance under GAAP, and should not be considered as an alternative to operating income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. We do not consider adjusted EBITDA to be a substitute for, or superior to, the information provided by GAAP financial results.

      For the Three Months Ended
    December 31,    		     For the Year Ended 
    December 31,    		  
      2024     2023     2024     2023  
    Net loss $ (3,134,782 )   $ (277,560 )   $ (13,634,333 )   $ (6,716,176 )
    Depreciation and amortization of intangibles   226,417       263,743       1,041,837       1,077,516  
    Amortization of right-of-use assets, net of changes in lease liability   (2,488 )     (30,208 )     29,885       22,592  
    Stock-based compensation expense   564,176       454,461       1,988,125       2,345,358  
    Interest expense   3,206       29,662       74,116       117,774  
    Interest income   (100,805 )     (159,487 )     (477,745 )     (544,958 )
    Impairment of goodwill   –       –       –       5,630,788  
    Employee retention credit (ERC)   –       –       –       (1,716,727 )
    Provision for income taxes   157,120       41,796       726,502       927,128  
    Adjusted EBITDA $ (2,287,156 )   $ 322,407     $ (10,251,613 )   $ 1,143,296  
                           

    FOOTNOTE: Adjusted EBITDA for the fourth quarter and full year ended December 31, 2024, included a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2023. Adjusted EBITDA for the full year ended December 31, 2024, also included inventory-related charges of $7.1 million.  

    (Dollars may not calculate due to rounding)

    Adjusted EPS excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. We believe that exclusion of certain selected items assists in providing a more complete understanding of our underlying results and trends and allows for comparability with our peer company index and industry. We use this measure along with the corresponding GAAP financial measures to manage our business and to evaluate our performance compared to prior periods and the marketplace. The Company defines non-GAAP income (loss) as income or (loss) before amortization, government funded programs, impairment of long lived assets, stock-based compensation, expenses related to discontinued operations, and acquisition costs. Adjusted EPS expresses adjusted income (loss) on a per share basis using weighted average diluted shares outstanding.

    Adjusted EPS is a non-GAAP financial measure and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. We expect to continue to incur expenses similar to the adjusted income from continuing operations and adjusted EPS financial adjustments described above, and investors should not infer from our presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

    The following table reconciles non-GAAP net income and basic and diluted earnings per share:

      For the Three Months Ended 
    December 31,    		     For the Full Year Ended
    December 31,    		  
      2024     2023     2024     2023  
    Net loss $ (3,134,782 )   $ (277,560 )   $ (13,634,333 )   $ (6,716,176 )
    Amortization of intangibles   –       –       –       42,154  
    Impairment of goodwill   –       –       –       5,630,788  
    Employee retention credit (ERC)   –       –       –       (1,716,727 )
    Stock-based compensation expense   564,176       454,461       1,988,125       2,345,358  
    Non-GAAP net loss $ (2,570,606 )   $ 176,901     $ (11,646,208 )   $ (414,603 )
    Non-GAAP net loss per share:                      
    Basic $ (0.12 )   $ 0.01     $ (0.56 )   $ (0.02 )
    Diluted $ (0.12 )   $ 0.01     $ (0.56 )   $ (0.02 )
    Weighted average common shares outstanding:                      
    Basic   21,120,396       20,632,300       20,953,397       20,854,777  
    Diluted   21,120,396       20,632,300       20,953,397       20,854,777  
                           

    FOOTNOTE: Non-GAAP net loss for the fourth quarter and full year ended December 31, 2024, included a charge related to contract losses of $1.2 million for incurred and anticipated costs to satisfy performance obligations on a customer-funded development contract that was entered into in 2023. Non-GAAP net loss for the full year ended December 31, 2024, also included an inventory charge of $6.1 million.  

    (Dollars may not calculate due to rounding)

    Forward-Looking Statements

    One Stop Systems cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by One Stop Systems or its partners that any of our plans or expectations will be achieved, including but not limited to, our ability to expand our product offerings and further penetrate our target markets, future demand for AI/ML integrations, expected or anticipated increase in revenues, and our business strategies. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in our latest Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Media Contacts:
    Robert Kalebaugh
    One Stop Systems, Inc.
    Tel (858) 518-6154
    Email contact

    Investor Relations:
    Andrew Berger
    Managing Director
    SM Berger & Company, Inc.
    Tel (216) 464-6400
    Email contact

    ONE STOP SYSTEMS, INC. (OSS)
    CONSOLIDATED BALANCE SHEETS
     
      Audited     Audited  
      December 31,     December 31,  
      2024     2023  
    ASSETS          
    Current assets          
    Cash and cash equivalents $ 6,794,093     $ 4,048,948  
    Short-term investments   3,217,065       7,771,820  
    Accounts receivable, net   8,177,371       8,318,247  
    Inventories, net   13,176,156       21,694,748  
    Prepaid expenses and other current assets   836,364       611,066  
    Total current assets   32,201,048       42,444,829  
    Property and equipment, net   1,669,026       2,370,224  
    Operating lease right-of use assets   1,536,094       1,922,784  
    Deposits and other   38,093       38,093  
    Goodwill   1,489,722       1,489,722  
    Total Assets $ 36,933,982     $ 48,265,652  
               
    LIABILITIES AND STOCKHOLDERS’ EQUITY          
    Current liabilities          
    Accounts payable $ 2,068,017     $ 1,201,781  
    Accrued expenses and other liabilities   4,806,675       3,202,519  
    Current portion of operating lease obligation   285,937       390,926  
    Current portion of notes payable   1,035,050       2,077,895  
    Total current liabilities   8,195,679       6,873,121  
    Deferred tax liability, net   52,574       44,673  
    Operating lease obligation, net of current portion   1,513,684       1,765,536  
    Total liabilities   9,761,937       8,683,330  
    Commitments and contingencies          
    Stockholders’ equity          
    Common stock, $0.0001 par value; 50,000,000 shares authorized; 21,148,810 and 20,661,341 shares issued and outstanding at December 31, 2024 and 2023, respectively   2,115       2,066  
    Additional paid-in capital   49,082,737       47,323,673  
    Accumulated other comprehensive income   140,254       675,310  
    Accumulated deficit   (22,053,061 )     (8,418,727 )
    Total stockholders’ equity   27,172,045       39,582,322  
    Total Liabilities and Stockholders’ Equity $ 36,933,982     $ 48,265,652  
               
    ONE STOP SYSTEMS, INC. (OSS)
    UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Dollars may not calculate due to rounding)
     
      For the Three Months Ended
    December 31,    		     For the Year Ended
    December 31,    		  
      2024     2023     2024     2023  
    Revenue:                      
    Product $ 14,280,939     $ 12,335,554     $ 51,003,350     $ 59,200,580  
    Customer funded development   859,207       819,655       3,691,009       1,696,217  
        15,140,146       13,155,209       54,694,358       60,896,797  
    Cost of revenue:                      
    Product   10,829,859       8,229,397       42,953,344       41,907,604  
    Customer funded development   1,930,800       491,242       4,022,707       1,034,571  
        12,760,659       8,720,639       46,976,051       42,942,175  
    Gross (loss) profit   2,379,487       4,434,570       7,718,307       17,954,622  
    Operating expenses:                      
    General and administrative   2,413,102       1,970,746       8,971,909       9,264,447  
    Impairment of goodwill   –       –       –       5,630,788  
    Marketing and selling   1,821,918       1,667,765       8,005,982       6,651,516  
    Research and development   1,250,377       1,127,194       4,097,229       4,331,024  
    Total operating expenses   5,485,397       4,765,704       21,075,120       25,877,775  
    Loss from operations   (3,105,910 )     (331,134 )     (13,356,813 )     (7,923,153 )
    Other income (expense), net:                      
    Interest income   100,805       159,487       477,745       544,958  
    Interest expense   (3,206 )     (29,662 )     (74,116 )     (117,774 )
    Employee retention credit (ERC)   –       418,431       –       1,716,727  
    Other income (expense), net   30,647       (452,886 )     45,353       (9,806 )
    Total other income, net   128,246       95,370       448,982       2,134,105  
    Loss before income taxes   (2,977,664 )     (235,764 )     (12,907,831 )     (5,789,048 )
    Provision for income taxes   157,119       41,796       726,502       927,128  
    Net loss $ (3,134,783 )   $ (277,560 )   $ (13,634,333 )   $ (6,716,176 )
                           
    Net loss per share:                      
    Basic $ (0.15 )   $ (0.01 )   $ (0.65 )   $ (0.32 )
    Diluted $ (0.15 )   $ (0.01 )   $ (0.65 )   $ (0.32 )
                           
    Weighted average common shares outstanding:                      
    Basic   21,120,396       20,632,300       20,953,397       20,854,777  
    Diluted   21,120,396       20,632,300       20,953,397       20,854,777  
                                   
    ONE STOP SYSTEMS, INC. (OSS)
    UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
     
      For the Twelve Months Ended
    December 31,
      2024     2023 
    Cash flows from operating activities:        
    Net loss $ (13,634,333 )   $ (6,716,176 )
    Adjustments to reconcile net loss to net cash provided by operating activities:        
    Deferred income taxes   28,082       (95,496 )
    Loss (gain) on disposal of property and equipment   354       –  
    Provision for bad debt   85,447       4,160  
    Impairment of goodwill   –       5,630,788  
    Warranty reserves   (79,962 )     11,846  
    Amortization of intangibles   –       42,154  
    Depreciation   1,041,837       1,035,362  
    Amortization of right-of-use assets   377,206       1,241,445  
    Inventory reserves   7,348,390       962,458  
    Stock-based compensation expense   1,988,125       2,345,358  
    Employee retention credit   –       (1,716,727 )
    Changes in operating assets and liabilities:        
    Accounts receivable   (190,339 )     3,095,701  
    Inventories   658,303       (1,636,153 )
    Prepaid expenses and other current assets   (238,554 )     (100,848 )
    Accounts payable   926,231       (3,408,487 )
    Accrued expenses and other liabilities   1,928,436       83,789  
    Operating lease liabilities   (347,321 )     (1,218,853 )
    Net cash provided by operating activities   (108,098 )     (439,679 )
             
    Cash flows from investing activities:        
    Redemption of short-term investment grade securities   4,553,535       2,342,552  
    Purchases of property and equipment, including capitalization of labor   (362,748 )     (821,753 )
    Net cash provided by investing activities   4,190,787       1,520,799  
             
    Cash flows from financing activities:        
    Proceeds from exercise of stock options and warrants   237,749       62,422  
    Payment of payroll taxes on net issuance of employee stock options   (466,762 )     (597,856 )
    Repayments on notes payable   (954,939 )     (1,352,637 )
    Employee retention credit benefit   –       1,716,727  
    Net cash (used in) provided by financing activities   (1,183,952 )     (171,344 )
             
    Net change in cash and cash equivalents   2,898,737       909,776  
    Effect of exchange rates on cash   (153,592 )     26,977  
    Cash and cash equivalents, beginning of period   4,048,948       3,112,196  
    Cash and cash equivalents, end of period $ 6,794,093     $ 4,048,948  

    The MIL Network –

  • MIL-OSI: October Three Expands O3 PRIME to Address Shortcomings of Corporate Retirement Plans

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 19, 2025 (GLOBE NEWSWIRE) — October Three, an industry-leading retirement strategy, actuarial and administration consulting firm, announced the expansion of its O3 PRIME lifetime retirement income plan. PRIME stands for Personalized Retirement Income for My Employees (or, from the employee’s perspective, for ME).

    O3 PRIME provides security and flexibility by combining the best advantages of a defined benefit (DB) plan and a defined contribution (DC) plan. The result is a market-based cash balance plan tightly integrated with a 401(k) plan that reduces risk and complexity for businesses while producing up to 30 percent more lifetime income for employees compared to what a DC plan can provide. It is a win-win for employers and employees.

    October Three has been implementing market-based cash balance plans for over a decade and is the market leader in this design. In 2023, October Three constructed the PRIME design and began implementing it for several clients. Based on the success of this design, October Three rolled out a PRIME plan for its own staff in January.

    “Traditional retirement plans fail to meet the needs of a modern workforce,” said Jeff Stevenson, President and CEO of October Three. “O3 PRIME goes beyond traditional retirement savings methods to create a plan that effectively balances the needs of employers and employees, to help employees secure their retirement without exposing their employer to excessive risk.”

    Americans are finding it harder to save money for retirement through employer-sponsored 401(k) plans due to the current economic climate. According to the Employee Benefit Research Institute (EBRI), “83% of workers are concerned that the increasing cost of living will make it harder to save as much as they want.” As a result, only “two in 10 workers are very confident in having enough money to live comfortably in retirement.”

    “The plan design of O3 PRIME modernizes companies’ current retirement programs to make managing the plan easier for employers while delivering predictable monthly retirement income for their employees,” said Idan Shlesinger, Partner and Retirement Solutions Practice Leader at October Three. “PRIME provides incentives that are attractive to the modern workforce. This is a key piece of the strategy for companies to recruit and retain the best talent.”

    About October Three:

    October Three Consulting, LLC is a full service actuarial, consulting and technology firm that is re-engineering defined benefit plan strategy, management and administration to meet the needs of the modern and future workforce. The company’s O3 PRIME (Personalized Retirement Income for My Employees) plan is based on cutting-edge technology, risk analysis and data-driven insights that minimize financial risk and volatility while maximizing employees’ potential for predictable retirement income. For more information, follow October Three on LinkedIn and visit our website at octoberthree.com.

    Media Contact:
    Sean Harris
    October Three Consulting
    +1 512.553.6404
    sharris@octoberthree.com

    The MIL Network –

  • MIL-OSI: Town of Lovell, Wyoming Settles Collective Intellectual Property Infringement Claims With Eastern Point Trust Company

    Source: GlobeNewswire (MIL-OSI)

    Cheyenne, March 19, 2025 (GLOBE NEWSWIRE) — Coal Creek Law of Cheyenne Wyoming announces, on behalf of its client Eastern Point Trust Company (Eastern Point), the final settlement and resolution of intellectual property infringement claims brought by Eastern Point against the Town of Lovell, Wyoming (Lovell). The settled claims included, but were not limited to, evidence of Lovell’s infringement of Eastern Point’s Collective Intellectual Property.

    Town Attorney Alexa Rolin of Copenhaver, Kitchen, and Kolpitcke is quoted in the March 6, 2025, Lovell Chronicle article (https://www.lovellchronicle.com/content/town-lovell-terminates-qsf-agreement-colorado-bank) as saying, “‘The town is no longer working with Flatirons in any capacity,’ she said. ‘The agreement is terminated.’” The same Chronicle article further stated, “In a follow-up interview on March 3, Rolin explained that the vote on the settlement agreement the previous week had the effect of an immediate termination of the QSF relationship with Flatirons Bank.”

    Sam Kott, Vice President and Corporate Counsel, commented, “Eastern Point invested heavily in its pioneering intellectual property and leads the Qualified Settlement Fund industry in innovation and proprietary process development. We are grateful to the Town of Lovell’s leadership for quickly resolving the matter and ceasing all associated activities.” Additionally, Mr. Kott noted, “Without exception, Eastern Point will vigorously defend its property rights and pursue all infringements to the fullest extent of the law, which provides relief and enforcement through both civil and contractual rights avenues.”

    In related comments, Edward “Ned” Armand, CEO and chairman of Eastern Point, observed, “Federal and state laws prohibit the misappropriation of trade secrets, industrial espionage, and related infringement activity. Eastern Point will, in every instance, enforce its rights using all available avenues and tools against all infringing parties.’ He stated, “No ethical businessperson will justify misappropriating or otherwise converting another business’s trade secrets and IP property as an allowable or defensible action.”

    For more information, please contact Sam Kott, as shown below.

    About Coal Creek Law

    Coal Creek Law (Evans, Bush, Coppede & Wilkens) is an experienced Rocky Mountain and Great Plains law firm in Cheyenne, Wyoming. It provides legal counsel in Wyoming, Colorado, and Nebraska. Coal Creek strives to provide results-oriented and value-driven legal support to individuals and businesses.

    About Eastern Point Trust Company

    Eastern Point Trust Company is a leading innovative trust and trust administration service provider that delivers personalized solutions for attorneys, individuals, families, and institutions. With a steadfast commitment to excellence and integrity, Eastern Point Trust Company offers a comprehensive range of trust-based and ministerial solutions. Moreover, it continues to lead the way in the trust and settlement administration industry, focusing on innovation, speed, and customer satisfaction. Eastern Point Trust Company is committed to delivering cutting-edge solutions that empower the Qualified Settlement Fund Administration and settlement industry to achieve its goals.

    Contact: 

    Sam Kott
    Phone: 855-222-7513 (#217)
    Email: SamKott@easternpointservices.com
    Website: www.easternpointtrust.com

    Disclaimer: The information in this press release is for informational purposes only. It does not constitute legal or investment advice, nor is it an offer to sell or a solicitation to purchase a security or service in any jurisdiction.

    The MIL Network –

  • MIL-OSI: New Flexera Report Finds that 84% of Organizations Struggle to Manage Cloud Spend

    Source: GlobeNewswire (MIL-OSI)

    ITASCA, Ill., March 19, 2025 (GLOBE NEWSWIRE) — Flexera, the global leader in technology spend and risk management, today announced the release of its 2025 State of the Cloud Report. The 14th annual report, which polled more than 750 technical professionals and executive leaders worldwide who were involved in the use of cloud, uncovered that 84% of respondents believe that managing cloud spend is the top cloud challenge for organizations today. With cloud spend expected to increase by 28% in the coming year, the report findings suggest that many respondents are rethinking their existing cloud cost management strategies.

    As organizations continue to invest in artificial intelligence (AI), nearly one-third (33%) of organizations are spending more than $12 million annually on the public cloud alone. With cloud budgets already exceeding limits by 17%, organizations are increasingly turning to managed service providers (60%) and expanding use of their FinOps teams to regain control over spending (59%). In fact, the number of respondents that use, or plan to use, a FinOps team increased by eight percentage points year over year.

    “AI is in its prime with no indication of losing momentum,” said Jay Litkey, Senior Vice President of Cloud and FinOps at Flexera and Governing Board Member at the FinOps Foundation. “I suspect we’ll see further acceleration of AI use as more organizations embrace their own AI investments and technology vendors introduce agentic AI into their existing toolsets. To stay on budget and accurately forecast for future needs, organizations need to fine-tune how to track and manage their cloud spend and use with FinOps now—or risk a significantly wasted investment.”

    While estimated wasted cloud spend is falling, the adoption of AI-related public cloud services is rising. In addition to an increase in the use of data warehouse services (76%), often leveraged to feed AI models, generative AI (GenAI) public cloud services use is booming with 72% of organizations reportedly using the technology either extensively or sparingly, as compared to 47% in 2024.

    “FinOps is taking center stage as many enterprises prepare for the onslaught of AI services to eat away at their cloud resources and budgets,” said Becky Trevino, Chief Product Officer at Flexera. “As we’re witnessing an increase in FinOps adoption, we’re simultaneously seeing estimated wasted cloud spend trending downward. This illustrates the power and promise of FinOps practices, proving it is a winning strategy for organizations worldwide.”

    Additional key findings include:

    • Cloud repatriation is starting to slowly unfold. Today, analysts and experts have indicated that some organizations are moving their workloads back to non-cloud environments (their own data centers and/or co-located/hosted environments). While this is beginning to happen, only a minority (21%) of cloud workloads have been repatriated. However, the ongoing migration to the cloud and net-new cloud workloads outstrip these cloud exits, resulting in continued cloud growth.
    • Cloud sustainability initiatives are becoming top-of-mind. Organizations are highly focused on fine-tuning their sustainability practices. Over half (57%) of respondents reported they have, or plan to have, a defined sustainability initiative in place within twelve months, including carbon footprint tracking of cloud use. Regardless, ​saving money is still top of mind given 57% said cost optimization takes priority over sustainability.
    • Cost efficiency continues to be the shining metric. Eighty-seven percent of respondents indicated that cost efficiency/savings is the number one metric used for assessing progress against cloud goals for the sixth year in a row, a 22-point increase from 2024. Organizations are also focused on the volume of workloads migrated (up from 36% in 2024 to 78% in 2025), and cost avoidance, which saw an uptick from 28% to 64%. This continues to validate the narrative that more workloads are moving to—or being developed in—the cloud, making a case for increased cost optimization tools.
    • Organizations are extending the scope of cloud costs to SaaS and software licensing. Those responsible for managing cloud use and costs are increasingly expanding their world beyond public cloud (IaaS/PaaS) to more effectively balance costs, usage and future spend. Seventy-nine percent of respondents indicated that they are now involved in cloud software decisions, with 69% involved in managing use and/or cost of SaaS applications and 64% are managing the use and/or costs of cloud licenses (or software running in the cloud).
    • Amazon Web Services (AWS) and Microsoft Azure competition remains heated. According to those surveyed, AWS and Azure continue to compete for the top spot regarding public cloud adoption. Recent data shows that AWS maintains a lead among SMBs—53% of SMBs reportedly use AWS, compared to 29% leveraging Azure. Google Cloud Platform holds the third spot, with just under half (46%) of all organizations running some or significant workloads on it.

    For more information on the Flexera 2025 State of the Cloud report, please visit: https://info.flexera.com/CM-REPORT-State-of-the-Cloud.

    Follow Flexera

    About Flexera
    Flexera helps organizations understand and maximize the value of their technology, saving billions of dollars in wasted spend. Powered by the Flexera Technology Intelligence Platform, our award-winning IT asset management, FinOps and SaaS management solutions provide comprehensive visibility and actionable insights on an organization’s entire IT ecosystem. This intelligence enables IT, finance, procurement, FinOps and cloud teams to address skyrocketing costs, optimize spend, mitigate risk and identify opportunities to create positive business outcomes. More than 50,000 global organizations rely on Flexera and its Technopedia reference library, the largest repository of technology asset data. Learn more at flexera.com.

    For more information, contact:
    Ciri Haugh
    Flexera
    publicrelations@flexera.com

    The MIL Network –

  • MIL-OSI: GDS Holdings Limited Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, March 19, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024.

    DayOne Data Centers Limited (“DayOne”), previously known as GDS International or GDSI, completed and closed its Series B equity raise on December 31, 2024. At closing, GDS’s equity interest in DayOne was diluted from 52.7% to 35.6%. Accordingly, GDS deconsolidated DayOne as a subsidiary and recognized DayOne as an equity investee. In the consolidated financial statements for the quarter and year ended December 31, 2024, DayOne’s operational results and cash flows have been excluded from the Company’s financial results from continuing operations and have been separately itemized under discontinued operations. Retrospective adjustments to the historical statements of operations and cash flows have also been made to provide a consistent basis of comparison for the financial results. Furthermore, retrospective adjustments were made to categorize and label DayOne’s assets and liabilities as “assets or liabilities of discontinued operations” on balance sheets for the comparative periods. Additionally, DayOne’s operating metrics have also been excluded from the Company’s operating metrics and have been separately itemized under discontinued operations.

    Fourth Quarter 2024 Financial Highlights For Continuing Operations

    • Net revenue increased by 9.1% year-over-year (“Y-o-Y”) to RMB2,690.7 million (US$368.6 million) in the fourth quarter of 2024 (4Q2023: RMB2,465.3 million).
    • Net loss from continuing operations was RMB173.4 million (US$23.8 million) in the fourth quarter of 2024 (4Q2023: RMB3,074.6 million).
    • Adjusted EBITDA (non-GAAP) increased by 13.9% Y-o-Y to RMB1,297.7 million (US$177.8 million) in the fourth quarter of 2024 (4Q2023: RMB1,139.2 million). See “Non-GAAP Disclosure” and “Reconciliations of GAAP and non-GAAP results” elsewhere in this earnings release.
    • Adjusted EBITDA margin (non-GAAP) was 48.2% in the fourth quarter of 2024 (4Q2023: 46.2%).

    Full Year 2024 Financial Highlights For Continuing Operations

    • Net revenue increased by 5.5% Y-o-Y to RMB10,322.1 million (US$1,414.1 million) in 2024 (2023: RMB9,782.4 million).
    • Net loss from continuing operations was RMB770.9 million (US$105.6 million) in 2024 (2023: RMB3,926.0 million).
    • Adjusted EBITDA (non-GAAP) increased by 3.0% Y-o-Y to RMB4,876.4 million (US$668.1 million) in 2024 (2023: RMB4,733.0 million). See “Non-GAAP Disclosure” and “Reconciliations of GAAP and non-GAAP results” elsewhere in this earnings release.
    • Adjusted EBITDA margin (non-GAAP) was 47.2% in 2024 (2023: 48.4%).

    Fourth Quarter and Full Year 2024 Operating Highlights For Continuing Operations

    • Total area committed and pre-committed increased by 1.8% Y-o-Y to 629,997 sqm as of December 31, 2024 (December 31, 2023: 618,942 sqm).
    • Area utilized increased by 11.8% Y-o-Y to 453,094 sqm as of December 31, 2024 (December 31, 2023: 405,302 sqm).
    • Utilization rate for area in service was 73.8% as of December 31, 2024 (December 31, 2023: 73.9%).

    “In 2024, we executed our business strategy in a disciplined way,” stated Mr. William Huang, Chairman and CEO of GDS. “We focused on backlog delivery while being selective on new commitments. At the same time, we made significant progress with our asset monetisation program with first ever data center ABS issue in China. Looking forward, we are well positioned strategically and financially to capture new business opportunities arising from AI.”

    Fourth Quarter 2024 Financial Results For Continuing Operations

    Net revenue in the fourth quarter of 2024 was RMB2,690.7 million (US$368.6 million), a 9.1% increase over the same period last year of RMB2,465.3 million. The Y-o-Y increase was mainly due to continued ramp-up of our data centers.

    Cost of revenue in the fourth quarter of 2024 was RMB2,112.5 million (US$289.4 million), a 3.9% increase over the same period last year of RMB2,032.4 million. The Y-o-Y increase was in line with the continued growth of our business.

    Gross profit was RMB578.1 million (US$79.2 million) in the fourth quarter of 2024, a 33.5% increase over the same period last year of RMB432.9 million.

    Gross profit margin was 21.5% in the fourth quarter of 2024, compared with 17.6% in the same period last year. The Y-o-Y increase was mainly due to a lower level of depreciation and amortization costs as percentage of net revenue as the data centers continue to ramp up.

    Adjusted Gross Profit (“Adjusted GP”) (non-GAAP) is defined as gross profit excluding depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs and share-based compensation expenses allocated to cost of revenue. Adjusted GP was RMB1,396.7 million (US$191.3 million) in the fourth quarter of 2024, an 11.8% increase over the same period last year of RMB1,249.3 million. See “Non-GAAP Disclosure” and “Reconciliations of GAAP and non-GAAP results” elsewhere in this earnings release.

    Adjusted GP margin (non-GAAP) was 51.9% in the fourth quarter of 2024, compared with 50.7% in the same period last year. The Y-o-Y increase was mainly due to a lower level of cash cost components as percentage of net revenue.

    Selling and marketing expenses, excluding share-based compensation expenses of RMB6.9 million (US$0.9 million), were RMB23.7 million (US$3.2 million) in the fourth quarter of 2024, a 4.1% decrease over the same period last year of RMB24.7 million (excluding share-based compensation of RMB9.3 million). The Y-o-Y decrease was mainly due to less marketing activities.

    General and administrative expenses, excluding share-based compensation expenses of RMB55.9 million (US$7.7 million), depreciation and amortization expenses of RMB79.0 million (US$10.8 million) and operating lease cost relating to prepaid land use rights of RMB15.6 million (US$2.1 million), were RMB108.5 million (US$14.9 million) in the fourth quarter of 2024, a 3.3% increase over the same period last year of RMB105.1 million (excluding share-based compensation expenses of RMB35.8 million, depreciation and amortization expenses of RMB88.9 million and operating lease cost relating to prepaid land use rights of RMB16.6 million). The Y-o-Y increase was due to an increase in corporate activities as business continues to grow.

    Research and development costs were RMB6.9 million (US$0.9 million) in the fourth quarter of 2024, compared with RMB12.8 million in the same period last year.

    Impairment losses of long-lived assets was zero in the fourth quarter of 2024, compared with RMB3,013.4 million in the same period last year.

    Net interest expenses for the fourth quarter of 2024 were RMB458.7 million (US$62.8 million), a 1.8% increase over the same period last year of RMB450.7 million. The Y-o-Y increase was mainly due to a higher level of total borrowings.

    Foreign currency exchange gain for the fourth quarter of 2024 was RMB8.1 million (US$1.1 million), compared with a loss of RMB6.0 million in the same period last year.

    Others, net for the fourth quarter of 2024 was RMB29.7 million (US$4.1 million), compared with RMB30.3 million in the same period last year.

    Income tax expenses for the fourth quarter of 2024 were RMB34.1 million (US$4.7 million), compared with income tax benefits of RMB225.3 million in the same period last year.

    Net loss from continuing operations in the fourth quarter of 2024 was RMB173.4 million (US$23.8 million), compared with RMB3,074.6 million in the same period last year.

    Adjusted EBITDA (non-GAAP) is defined as net income (loss) excluding income (loss) from discontinued operations, net interest expenses, income tax expenses (benefits), depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs, share-based compensation expenses, gain from purchase price adjustment and impairment losses of long-lived assets. Adjusted EBITDA was RMB1,297.7 million (US$177.8 million) in the fourth quarter of 2024, a 13.9% increase over the same period last year of RMB1,139.2 million.

    Adjusted EBITDA margin (non-GAAP) was 48.2% in the fourth quarter of 2024, compared with 46.2% in the same period last year. The Y-o-Y increase was mainly due to a lower level of cash cost components as percentage of net revenue and a decrease in corporate expenses as percentage of net revenue.

    Full Year 2024 Financial Results For Continuing Operations

    Net revenue in 2024 was RMB10,322.1 million (US$1,414.1 million), a 5.5% increase from RMB9,782.4 million in 2023, or a 6.3% increase excluding previously disclosed one-time items in 2023.

    Cost of revenue in 2024 was RMB8,099.4 million (US$1,109.6 million), a 3.4% increase from RMB7,831.2 million in 2023.

    Gross profit was RMB2,222.6 million (US$304.5 million) in 2024, a 13.9% increase from RMB1,951.2 million in 2023. Gross profit margin was 21.5% in 2024, compared with 19.9% in 2023.

    Selling and marketing expenses, excluding share-based compensation expenses of RMB25.0 million (US$3.4 million), were RMB91.4 million (US$12.5 million) in 2024, a 5.9% decrease from RMB97.1 million (excluding share-based compensation of RMB43.8 million) in 2023.

    General and administrative expenses, excluding share-based compensation expenses of RMB165.6 million (US$22.7 million), depreciation and amortization expenses of RMB291.7 million (US$40.0 million) and operating lease cost relating to prepaid land use rights of RMB65.3 million (US$8.9 million), were RMB395.3 million (US$54.2 million) in 2024, a 13.9% increase from RMB347.1 million (excluding share-based compensation expenses of RMB162.9 million, depreciation and amortization expenses of RMB387.8 million and operating lease cost relating to prepaid land use rights of RMB68.2 million) in 2023.

    Research and development costs were RMB36.3 million (US$5.0 million) in 2024, compared with RMB38.2 million in 2023.

    Impairment losses of long-lived assets was zero in 2024, compared with RMB3,013.4 million in 2023.

    Net interest expenses were RMB1,834.9 million (US$251.4 million) in 2024, a 0.4% decrease from RMB1,842.5 million in 2023.

    Others, net was RMB49.1 million (US$6.7 million) in 2024, compared with RMB109.7 million in 2023.

    Net loss from continuing operations was RMB770.9 million (US$105.6 million) in 2024, compared with RMB3,926.0 million in 2023.

    Adjusted EBITDA (non-GAAP) was RMB4,876.4 million (US$668.1 million) in 2024, a 3.0% increase from RMB4,733.0 million in 2023, or a 5.1% increase excluding previously disclosed one-time items in 2023.

    Adjusted EBITDA margin (non-GAAP) was 47.2% in 2024, compared with 48.4% in 2023, or 47.8% excluding previously disclosed one-time items in 2023.

    Fourth Quarter and Full Year 2024 Financial Results for Discontinued Operations

    Net revenue was RMB443.4 million (US$60.7 million) in the fourth quarter of 2024, a 331.1% increase from RMB102.9 million in the same period last year. For the full year 2024, net revenue was RMB1,262.1 million (US$172.9 million), a 618.2% increase from RMB175.7 million in 2023.

    Loss from operations of discontinued operations, net of income taxes in the fourth quarter of 2024 was RMB190.5 million (US$26.1 million), compared with RMB90.0 million in the same period last year. Loss from operations of discontinued operations, net of income taxes in 2024 was RMB400.8 million (US$54.9 million), compared with RMB359.4 million in 2023.

    Adjusted EBITDA (non-GAAP) for discontinued operations is defined as loss from operations of discontinued operations, net of income taxes excluding net interest expenses, income tax expenses (benefits), depreciation and amortization, operating lease cost relating to prepaid land use rights and accretion expenses for asset retirement costs. Adjusted EBITDA (non-GAAP) was RMB109.7 million (US$15.0 million) in the fourth quarter of 2024, compared with RMB3.8 million in the same period last year. For the full year 2024, Adjusted EBITDA (non-GAAP) was RMB332.3 million (US$45.5 million), compared with negative RMB98.5 million in 2023.

    Adjusted EBITDA margin (non-GAAP) was 24.7% in the fourth quarter of 2024, compared with 3.7% in the same period last year. For the full year 2024, adjusted EBITDA margin (non-GAAP) was 26.3% compared with negative 56.1% in 2023.

    Gain on Deconsolidation of Subsidiaries

    Gain on deconsolidation of subsidiaries in the fourth quarter of 2024 and full year of 2024 was RMB4,475.5 million (US$613.1 million), arising from the difference between the aggregate of the fair value of retained non-controlling equity interest and the carrying amount of equity interest owned by other investors in former subsidiaries at the date of deconsolidation, and the carrying amount of the deconsolidated subsidiaries’ assets and liabilities.

    Net Income

    Net income in the fourth quarter of 2024 was RMB4,111.6 million (US$563.3 million), compared with a net loss of RMB3,164.6 million in the same period last year.

    Net income was RMB3,303.8 million (US$452.6 million) in 2024, compared with a net loss of RMB4,285.4 million in 2023.

    Basic and diluted income per ordinary share in the fourth quarter of 2024 was RMB2.81 (US$0.39), compared with loss of RMB2.16 in the same period last year.

    Basic and diluted income per American Depositary Share (“ADS”) in the fourth quarter of 2024 was RMB22.51 (US$3.08), compared with loss of RMB17.30 in the same period last year.

    Basic and diluted income per ordinary share was RMB2.29 (US$0.31) in 2024, compared with loss of RMB2.96 in 2023.

    Basic and diluted income per ADS was RMB18.28 (US$2.50) in 2024, compared with loss of RMB23.67 in 2023.

    Liquidity for GDS Excluding DayOne

    GDS deconsolidated DayOne as a subsidiary on December 31, 2024. As a result, the following financial information excludes DayOne’s assets and liabilities.

    As of December 31, 2024, cash was RMB7,867.7 million (US$1,077.9 million).

    Total short-term debt was RMB4,978.4 million (US$682.0 million), comprised of short-term borrowings and the current portion of long-term borrowings of RMB4,341.6 million (US$594.8 million), the current portion of convertible bonds payable of RMB575 thousand (US$79 thousand) and the current portion of finance lease and other financing obligations of RMB636.2 million (US$87.2 million). Total long-term debt was RMB38,084.2 million (US$5,217.5 million), comprised of long-term borrowings (excluding current portion) of RMB21,906.0 million (US$3,001.1 million), the non-current portion of convertible bonds payable of RMB8,576.6 million (US$1,175.0 million) and the non-current portion of finance lease and other financing obligations of RMB7,601.7 million (US$1,041.4 million).

    During the fourth quarter of 2024, the Company obtained new debt financing and refinancing facilities of RMB960.0 million (US$131.5 million) for continuing operations.

    During the full year of 2024, the Company obtained new debt financing and refinancing facilities of RMB5,734.0 million (US$785.5 million) for continuing operations.

    Liquidity For DayOne

    As of December 31, 2024, upon deconsolidation, cash was RMB9,930.9 million (US$1,360.5 million). Total gross debt, including borrowings and finance lease and other financing obligations, was RMB10,417.6 million (US$1,427.2 million).

    Fourth Quarter and Full Year 2024 Operating Results For Continuing Operations

    Sales

    Total area committed and pre-committed at the end of the fourth quarter of 2024 was 629,997 sqm, compared with 618,942 sqm at the end of the fourth quarter of 2023 and 626,783 sqm at the end of the third quarter of 2024, an increase of 1.8% Y-o-Y and 0.5% quarter-over-quarter (“Q-o-Q”), respectively. In the fourth quarter of 2024, gross additional total area committed was 9,387 sqm, mainly contributed by data centers in Shanghai. Net additional total area committed was 3,214 sqm. In the full year of 2024, gross additional total area committed was 49,452 sqm, and net additional total area committed was 11,055 sqm.

    Data Center Resources

    Area in service at the end of the fourth quarter of 2024 was 613,583 sqm, compared with 548,352 sqm at the end of the fourth quarter of 2023 and 595,606 sqm at the end of the third quarter of 2024, an increase of 11.9% Y-o-Y and 3.0% Q-o-Q. In the fourth quarter of 2024, net additional area in service for China was 17,977 sqm, mainly from data centers in Changshu, Langfang and Huizhou.

    Area under construction at the end of the fourth quarter of 2024 was 102,691 sqm, compared with 151,602 sqm at the end of the fourth quarter of 2023 and 120,422 sqm at the end of the third quarter of 2024, a decrease of 32.3% Y-o-Y and 14.7% Q-o-Q, respectively.

    Commitment rate for area in service was 91.9% at the end of the fourth quarter of 2024, compared with 92.5% at the end of the fourth quarter of 2023 and 92.1% at the end of the third quarter of 2024. Pre-commitment rate for area under construction was 64.1% at the end of the fourth quarter of 2024, compared with 73.8% at the end of the fourth quarter of 2023 and 65.1% at the end of the third quarter of 2024.

    Move-In

    Area utilized at the end of the fourth quarter of 2024 was 453,094 sqm, compared with 405,302 sqm at the end of the fourth quarter of 2023 and 438,654 sqm at the end of the third quarter of 2024, an increase of 11.8% Y-o-Y and 3.3% Q-o-Q. In the fourth quarter of 2024, gross additional area utilized was 16,390 sqm, mainly contributed by data centers in Langfang, Huizhou and Shanghai. Net additional area utilized was 14,440 sqm. In the full year of 2024, gross additional area utilized was 79,431 sqm, and net additional area utilized was 47,792 sqm.

    Utilization rate for area in service was 73.8% at the end of the fourth quarter of 2024, compared with 73.9% at the end of the fourth quarter of 2023 and 73.6% at the end of the third quarter of 2024.

    Fourth Quarter and Full Year 2024 Operating Results for Discontinued Operations

    Total power committed was 469 MW as of December 31, 2024, an increase from 433 MW as of September 30, 2024. The contribution was mainly from the two sites in Johor, Malaysia.

    Power Capacity in Service was 132 MW as of December 31, 2024, compared to 131 MW as of September 30, 2024. Power Capacity Under Construction was 369 MW as of December 31, 2024, an increase from 320 MW as of September 30, 2024. This increase was primarily driven by the progress of two new data centers under construction in Johor sites.

    Power utilized was 123 MW as of December 31, 2024, an increase from 105 MW as of September 30, 2024. Utilization Rate was 93.6% as of December 31, 2024.

    Recent Development

    Reference is made to the Company’s press release on March 10, 2025 where it announced that it has entered into definitive agreements to monetize, on a net basis, a 70% equity interest in certain of its data centers, at an implied enterprise value (“EV”) to EBITDA multiple of around 13 times. In such transaction, GDS is selling a 100% equity interest in certain data center project companies to a purchaser which is special purpose vehicle involving the issue of an Asset Backed Security (“ABS”). The ABS is 70% subscribed by top tier institutional investors in China, led by China Life Insurance Company Limited (“China Life”), whilst GDS subscribes for the remaining 30% and retains the rights for on-going operation of the underlying data centers. The ABS will be registered on the Shanghai Stock Exchange as a privately-held standardized security product. The ABS is specifically designed to facilitate an eventual injection into a public REIT vehicle (commonly referred to as “C-REIT”) for public offering and listing in the future, when certain qualification requirements under the ABS scheme are satisfied. Notwithstanding the above, such potential injection remains subject to, among other things, the satisfaction of relevant regulatory and disclosure requirements (including but not limited to the Hong Kong Listing Rules requirement on spin-off listing) and there is currently no concrete or definitive plan in this regard.

    Business Outlook For Continuing Operations

    For the full year of 2025, the Company expects its total revenues to be between RMB11,290 million to RMB11,590 million, implying a year-on-year increase of between approximately 9.4% to 12.3%; and its Adjusted EBITDA to be between RMB5,190 million to RMB5,390 million, implying a year-on-year increase of between approximately 6.4% to 10.5%. In addition, the Company expects capex to be around RMB4,300 million for the full year of 2025.

    This forecast assumes completion of the ABS transaction and deconsolidation of the underlying data center project companies. However, the gain on sale is not included in Adjusted EBITDA.

    This forecast reflects the Company’s preliminary view on the current business situation and market conditions, which are subject to change.

    Conference Call

    Management will hold a conference call at 8:00 a.m. U.S. Eastern Time on March 19, 2025 (8:00 p.m. Beijing Time on March 19, 2025) to discuss financial results and answer questions from investors and analysts.

    Participants should complete online registration using the link provided below at least 15 minutes before the scheduled start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.

    Participant Online Registration:
    https://register-conf.media-server.com/register/BI4cc739e1f3c748ffa22f7df4125e5079

    A live and archived webcast of the conference call will be available on the Company’s investor relations website at investors.gds-services.com.

    Non-GAAP Disclosure

    Our management and board of directors use Adjusted EBITDA, Adjusted EBITDA margin, Adjusted GP and Adjusted GP margin, which are non-GAAP financial measures, to evaluate our operating performance, establish budgets and develop operational goals for managing our business. We believe that the exclusion of the income and expenses eliminated in calculating Adjusted EBITDA and Adjusted GP can provide useful and supplemental measures of our core operating performance. In particular, we believe that the use of Adjusted EBITDA as a supplemental performance measure captures the trend in our operating performance by excluding from our operating results the impact of our capital structure (primarily interest expense), asset base charges (primarily depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs and impairment losses of long-lived assets), other non-cash expenses (primarily share-based compensation expenses), and other income and expenses which we believe are not reflective of our operating performance, whereas the use of adjusted gross profit as a supplemental performance measure captures the trend in gross profit performance of our data centers in service by excluding from our gross profit the impact of asset base charges (primarily depreciation and amortization, operating lease cost relating to prepaid land use rights and accretion expenses for asset retirement costs) and other non-cash expenses (primarily share-based compensation expenses) included in cost of revenue. In addition, we exclude the income (loss) from discontinued operation from our Adjusted EBITDA and Adjusted EBITDA margin to measure our financial performance from continuing operations, which will be consistent with our future financial performance disclosure.

    We note that depreciation and amortization is a fixed cost which commences as soon as each data center enters service. However, it usually takes several years for new data centers to reach high levels of utilization and profitability. The Company incurs significant depreciation and amortization costs for its early stage data center assets. Accordingly, gross profit, which is a measure of profitability after taking into account depreciation and amortization, does not accurately reflect the Company’s core operating performance.

    We also present these non-GAAP measures because we believe these non-GAAP measures are frequently used by securities analysts, investors and other interested parties as measures of the financial performance of companies in our industry.

    These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, cash flows or our liquidity, investors should not consider them in isolation, or as a substitute for gross profit, net income (loss), cash flows provided by (used in) operating activities or other consolidated statements of operations and cash flow data prepared in accordance with U.S. GAAP. There are a number of limitations related to the use of these non-GAAP financial measures instead of their nearest GAAP equivalent. First, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted GP, and Adjusted GP margin are not substitutes for gross profit, net income (loss), cash flows provided by (used in) operating activities or other consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. Second, other companies may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of these non-GAAP financial measures as tools for comparison. Finally, these non-GAAP financial measures do not reflect the impact of income (loss) from discontinued operations, net interest expenses, incomes tax benefits (expenses), depreciation and amortization, operating lease cost relating to prepaid land use rights, accretion expenses for asset retirement costs, share-based compensation expenses, gain from purchase price adjustment and impairment losses of long-lived assets, each of which have been and may continue to be incurred in our business.

    We mitigate these limitations by reconciling the non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We do not provide forward-looking guidance for certain financial data, such as depreciation, amortization, accretion, share-based compensation and net income (loss); the impact of such data and related adjustments can be significant. As a result, we are not able to provide a reconciliation of forward-looking U.S. GAAP to forward-looking non-GAAP financial measures without unreasonable effort. Such forward-looking non-GAAP financial measures include the forecast for Adjusted EBITDA in the section captioned “Business Outlook For Continuing Operations” set forth in this press release.

    For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and non-GAAP results” set forth at the end of this press release.

    Exchange Rate

    This announcement contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all.

    Statement Regarding Preliminary Unaudited Financial Information

    The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company’s year-end audit, which could result in significant differences from this preliminary unaudited financial information.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    GDS HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
     
        As of December 31, 2023 As of December 31, 2024
        RMB RMB US$
             
      Assets      
    Current assets      
      Cash 7,354,809   7,867,659   1,077,865  
      Accounts receivable, net of allowance for credit losses 2,493,059   3,021,956   414,006  
      Value-added-tax (“VAT”) recoverable 214,385   240,506   32,949  
      Prepaid expenses and other current assets 483,833   482,950   66,164  
      Current assets of discontinued operations 437,567   0   0  
      Total current assets 10,983,653   11,613,071   1,590,984  
             
    Non-current assets      
      Long-term investments in equity investees 7,298   7,544,555   1,033,600  
      Property and equipment, net 40,098,423   40,204,133   5,507,944  
      Prepaid land use rights, net 22,388   21,774   2,983  
      Operating lease right-of-use assets 5,310,723   5,193,408   711,494  
      Goodwill and intangible assets, net 6,574,669   6,367,493   872,343  
      Other non-current assets 2,538,542   2,704,194   370,473  
      Non-current assets of discontinued operations 8,910,994   0   0  
      Total non-current assets 63,463,037   62,035,557   8,498,837  
      Total assets 74,446,690   73,648,628   10,089,821  
             
      Liabilities, Mezzanine Equity and Equity      
    Current liabilities      
      Short-term borrowings and current portion of long-term borrowings 2,582,350   4,341,649   594,803  
      Convertible bonds payable, current 0   575   79  
      Accounts payable 2,749,896   2,593,305   355,281  
      Accrued expenses and other payables 1,265,259   1,389,072   190,302  
      Operating lease liabilities, current 132,811   117,345   16,076  
      Finance lease and other financing obligations, current 547,847   636,152   87,152  
      Current liabilities of discontinued operations 1,027,313   0   0  
      Total current liabilities 8,305,476   9,078,098   1,243,693  
             
    Non-current liabilities      
      Long-term borrowings, excluding current portion 23,088,055   21,905,985   3,001,108  
      Convertible bonds payable, non-current 8,434,766   8,576,583   1,174,987  
      Operating lease liabilities, non-current 1,344,264   1,279,726   175,322  
      Finance lease and other financing obligations, non-current 7,894,185   7,601,651   1,041,422  
      Other long-term liabilities 1,586,012   1,537,952   210,699  
      Non-current liabilities of discontinued operations 3,670,129   0   0  
      Total non-current liabilities 46,017,411   40,901,897   5,603,538  
      Total liabilities 54,322,887   49,979,995   6,847,231  
             
    Mezzanine equity      
      Redeemable preferred shares 1,064,766   1,080,656   148,049  
      Total mezzanine equity 1,064,766   1,080,656   148,049  
             
    GDS Holdings Limited shareholders’ equity      
      Ordinary shares 516   527   72  
      Additional paid-in capital 29,337,095   29,596,268   4,054,672  
      Accumulated other comprehensive loss (974,393 ) (1,094,377 ) (149,929 )
      Accumulated deficit (9,469,758 ) (6,044,372 ) (828,075 )
      Total GDS Holdings Limited shareholders’ equity 18,893,460   22,458,046   3,076,740  
    Non-controlling interests 165,577   129,931   17,801  
      Total equity 19,059,037   22,587,977   3,094,541  
             
      Total liabilities, mezzanine equity and equity 74,446,690   73,648,628   10,089,821  
                   
    GDS HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”)
    except for number of shares and per share data)
     
        Three months ended   Year ended  
        December 31, 2023 September 30, 2024 December 31, 2024   December 31, 2023 December 31, 2024
        RMB RMB RMB US$   RMB RMB US$
                       
    Net revenue                
    Service revenue 2,465,283   2,619,578   2,690,482   368,595     9,781,884   10,321,888   1,414,093  
    Equipment sales 0   0   180   25     564   180   25  
    Total net revenue 2,465,283   2,619,578   2,690,662   368,620     9,782,448   10,322,068   1,414,118  
    Cost of revenue (2,032,352 ) (2,061,995 ) (2,112,545 ) (289,417 )   (7,831,222 ) (8,099,439 ) (1,109,619 )
    Gross profit 432,931   557,583   578,117   79,203     1,951,226   2,222,629   304,499  
                       
    Operating expenses                
      Selling and marketing expenses (34,050 ) (32,356 ) (30,571 ) (4,188 )   (140,890 ) (116,440 ) (15,952 )
      General and administrative expenses (246,274 ) (211,392 ) (259,048 ) (35,490 )   (965,982 ) (917,877 ) (125,748 )
      Research and development expenses (12,800 ) (8,588 ) (6,862 ) (940 )   (38,159 ) (36,319 ) (4,976 )
      Impairment losses of long-lived assets (3,013,416 ) 0   0   0     (3,013,416 ) 0   0  
    (Loss) income from continuing operations (2,873,609 ) 305,247   281,636   38,585     (2,207,221 ) 1,151,993   157,823  
    Other income (expenses):              
      Net interest expenses (450,700 ) (463,327 ) (458,745 ) (62,848 )   (1,842,529 ) (1,834,851 ) (251,374 )
      Foreign currency exchange (loss) gain, net (5,991 ) 586   8,117   1,112     (1,573 ) 18,942   2,595  
      Others, net 30,347   5,001   29,727   4,072     109,729   49,057   6,721  
    Loss from continuing operations before income taxes (3,299,953 ) (152,493 ) (139,265 ) (19,079 )   (3,941,594 ) (614,859 ) (84,235 )
    Income tax benefits (expenses) 225,342   347   (34,144 ) (4,678 )   15,577   (156,053 ) (21,379 )
    Net loss from continuing operations (3,074,611 ) (152,146 ) (173,409 ) (23,757 )   (3,926,017 ) (770,912 ) (105,614 )
                       
    Discontinued operations                
      Loss from operations of discontinued operations, net of income taxes (90,033 ) (78,963 ) (190,491 ) (26,097 )   (359,376 ) (400,796 ) (54,909 )
      Gain on deconsolidation of subsidiaries 0   0   4,475,539   613,146     0   4,475,539   613,146  
    (Loss) income from discontinued operations (90,033 ) (78,963 ) 4,285,048   587,049     (359,376 ) 4,074,743   558,237  
                       
    Net (loss) income (3,164,644 ) (231,109 ) 4,111,639   563,292     (4,285,393 ) 3,303,831   452,623  
                       
    Net loss from continuing operations (3,074,611 ) (152,146 ) (173,409 ) (23,757 )   (3,926,017 ) (770,912 ) (105,614 )
    Net income from continuing operations attributable to non-controlling interests (1,676 ) (1,755 ) (1,268 ) (174 )   (5,026 ) (6,209 ) (851 )
    Net loss from continuing operations attributable to GDS Holdings Limited shareholders (3,076,287 ) (153,901 ) (174,677 ) (23,931 )   (3,931,043 ) (777,121 ) (106,465 )
                       
    (Loss) income from discontinued operations (90,033 ) (78,963 ) 4,285,048   587,049     (359,376 ) 4,074,743   558,237  
    Net loss from discontinued operations attributable to non-controlling interests 366   5,092   3,373   462     366   7,317   1,003  
    Net loss from discontinued operations attributable to redeemable non-controlling interests 0   35,432   75,550   10,350     0   120,447   16,501  
    Net (loss) income from discontinued operations attributable to GDS Holdings Limited shareholders (89,667 ) (38,439 ) 4,363,971   597,861     (359,010 ) 4,202,507   575,741  
                       
    Net (loss) income attributable to GDS Holdings Limited shareholders (3,165,954 ) (192,340 ) 4,189,294   573,930     (4,290,053 ) 3,425,386   469,276  
    Cumulative dividend on redeemable preferred shares (13,679 ) (13,618 ) (13,679 ) (1,874 )   (53,625 ) (54,232 ) (7,430 )
    Net (loss) income available to GDS Holdings Limited ordinary shareholders (3,179,633 ) (205,958 ) 4,175,615   572,056     (4,343,678 ) 3,371,154   461,846  
                       
    (Loss) income per ordinary share              
    Basic and diluted (2.16 ) (0.14 ) 2.81   0.39     (2.96 ) 2.29   0.31  
                       
    Weighted average number of ordinary share outstanding              
    Basic and diluted 1,469,982,015   1,476,130,132   1,484,083,188   1,484,083,188     1,468,187,956   1,475,079,754   1,475,079,754  
                                   
    GDS HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
     
      Three months ended   Year ended
      December 31, 2023 September 30, 2024 December 31, 2024   December 31, 2023 December 31, 2024
      RMB RMB RMB US$   RMB RMB US$
                     
    Net (loss) income (3,164,644 ) (231,109 ) 4,111,639   563,292     (4,285,393 ) 3,303,831   452,623  
    Foreign currency translation adjustments, net of nil tax 117,674   538,739   (391,639 ) (53,654 )   (125,118 ) 74,741   10,239  
    Defined benefit plan, net of nil tax 0   0   (41 ) (6 )   0   (41 ) (6 )
    Amounts reclassified from accumulated other comprehensive loss 0   0   (96,957 ) (13,283 )   0   (96,957 ) (13,283 )
    Comprehensive (loss) income (3,046,970 ) 307,630   3,623,002   496,349     (4,410,511 ) 3,281,574   449,573  
    Comprehensive (income) loss attributable to non-controlling interests (1,678 ) (5,287 ) 6,631   908     (5,575 ) (1,076 ) (147 )
    Comprehensive (income) loss attributable to redeemable non-controlling interests 0   (107,365 ) 126,721   17,361     0   24,904   3,412  
    Comprehensive (loss) income attributable to GDS Holdings Limited shareholders (3,048,648 ) 194,978   3,756,354   514,618     (4,416,086 ) 3,305,402   452,838  
                                   
    GDS HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
     
      Three months ended   Year ended
      December
    31, 2023    		 September
    30, 2024    		 December 31, 2024   December 31,
    2023    		 December 31, 2024
      RMB RMB RMB US$   RMB RMB US$
                     
    Net (loss) income (3,164,644 ) (231,109 ) 4,111,639   563,292     (4,285,393 ) 3,303,831   452,623  
    Net loss (income) from discontinued operations 90,033   78,963   (4,285,048 ) (587,049 )   359,376   (4,074,743 ) (558,237 )
    Depreciation and amortization 865,485   803,535   865,896   118,627     3,368,474   3,243,004   444,290  
    Amortization of debt issuance cost and debt discount 34,010   33,467   18,290   2,506     140,625   110,724   15,169  
    Share-based compensation expense 80,765   61,194   82,965   11,366     336,616   296,487   40,619  
    Impairment losses of long-lived assets 3,013,416   0   0   0     3,013,416   0   0  
    Others (202,637 ) (63,810 ) (29,703 ) (4,069 )   (187,844 ) (115,941 ) (15,884 )
    Changes in operating assets and liabilities 326,171   (42,362 ) 315,821   43,267     (385,994 ) (543,700 ) (74,487 )
    Net cash provided by operating activities from continuing operations 1,042,599   639,878   1,079,860   147,940     2,359,276   2,219,662   304,093  
    Net cash (used in) provided by operating activities from discontinued operations (93,209 ) 1,636   (150,554 ) (20,626 )   (294,019 ) (281,297 ) (38,538 )
    Net cash provided by operating activities 949,390   641,514   929,306   127,314     2,065,257   1,938,365   265,555  
                     
    Purchase of property and equipment and land use rights (282,591 ) (788,123 ) (381,382 ) (52,249 )   (3,175,406 ) (2,965,384 ) (406,256 )
    (Payments) receipts related to acquisitions and investments (396,051 ) 0   27,000   3,699     (1,339,639 ) 1,125,023   154,128  
    Net cash used in investing activities from continuing operations (678,642 ) (788,123 ) (354,382 ) (48,550 )   (4,515,045 ) (1,840,361 ) (252,128 )
    Net cash used in investing activities from discontinued operations (784,990 ) (2,110,682 ) (3,011,040 ) (412,511 )   (2,827,863 ) (6,920,177 ) (948,060 )
    Net cash used in investing activities (1,463,632 ) (2,898,805 ) (3,365,422 ) (461,061 )   (7,342,908 ) (8,760,538 ) (1,200,188 )
                     
    Net cash (used in) provided by financing activities from continuing operations (271,778 ) (392,325 ) (612,447 ) (83,905 )   1,266,936   174,295   23,878  
    Net cash provided by financing activities from discontinued operations 958,799   2,334,112   11,441,448   1,567,472     2,892,824   16,883,042   2,312,967  
    Net cash provided by financing activities 687,021   1,941,787   10,829,001   1,483,567     4,159,760   17,057,337   2,336,845  
    Effect of exchange rate changes on cash and restricted cash 4,705   (28,109 ) (6,457 ) (885 )   154,302   (13,592 ) (1,862 )
                     
    Net increase (decrease) of cash and restricted cash 177,484   (343,613 ) 8,386,428   1,148,935     (963,589 ) 10,221,572   1,400,350  
    Cash and restricted cash at beginning of period 7,740,395   10,096,689   9,753,076   1,336,166     8,882,066   7,917,932   1,084,752  
    Reclassification as assets of disposal group classified as held for sale 53   0   0   0     (545 ) 0   0  
    Cash and restricted cash at end of period 7,917,932   9,753,076   18,139,504   2,485,101     7,917,932   18,139,504   2,485,102  
    Less: Cash and restricted cash of discontinued operations at end of period or deconsolidation date (420,610 ) (1,760,719 ) (10,045,974 ) (1,376,293 )   (420,610 ) (10,045,974 ) (1,376,293 )
    Cash and restricted cash of continuing operations at end of period 7,497,322   7,992,357   8,093,530   1,108,808     7,497,322   8,093,530   1,108,809  
                                   
    GDS HOLDINGS LIMITED
    RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”)
    except for percentage data)
     
      Three months ended   Year ended
      December 31,
    2023    		 September 30,
    2024    		 December 31, 2024   December 31, 2023 December 31, 2024
      RMB RMB RMB US$   RMB RMB US$
                     
    Gross profit 432,931   557,583   578,117   79,203     1,951,226   2,222,629   304,499  
    Depreciation and amortization 775,122   731,630   786,869   107,801     2,974,546   2,947,444   403,798  
    Operating lease cost relating to prepaid land use rights 10,615   11,536   11,996   1,643     38,792   44,872   6,147  
    Accretion expenses for asset retirement costs 1,588   1,730   1,709   234     6,599   6,827   935  
    Share-based compensation expenses 29,066   20,549   18,002   2,466     116,467   92,402   12,659  
    Adjusted GP 1,249,322   1,323,028   1,396,693   191,347     5,087,630   5,314,174   728,038  
    Adjusted GP margin 50.7%   50.5%   51.9%   51.9%     52.0%   51.5%   51.5%  
                                   
    GDS HOLDINGS LIMITED
    RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”)
    except for percentage data)
     
      Three months ended   Year ended
      December 31, 2023 September 30, 2024 December 31, 2024   December 31, 2023 December 31, 2024
      RMB RMB RMB US$   RMB RMB US$
                     
    Net (loss) income (3,164,644 ) (231,109 ) 4,111,639   563,292     (4,285,393 ) 3,303,831   452,623  
    Loss (income) from discontinued operations 90,033   78,963   (4,285,048 ) (587,049 )   359,376   (4,074,743 ) (558,237 )
    Net loss from continuing operations (3,074,611 ) (152,146 ) (173,409 ) (23,757 )   (3,926,017 ) (770,912 ) (105,614 )
    Net interest expenses 450,700   463,327   458,745   62,848     1,842,529   1,834,851   251,374  
    Income tax (benefits) expenses (225,342 ) (347 ) 34,144   4,678     (15,577 ) 156,053   21,379  
    Depreciation and amortization 865,485   803,535   865,896   118,627     3,368,474   3,243,004   444,290  
    Operating lease cost relating to prepaid land use rights 27,199   27,602   27,609   3,782     106,964   110,126   15,087  
    Accretion expenses for asset retirement costs 1,588   1,730   1,709   234     6,599   6,827   935  
    Share-based compensation expenses 80,765   61,194   82,965   11,366     336,616   296,487   40,619  
    Impairment losses of long-lived assets 3,013,416   0   0   0     3,013,416   0   0  
    Adjusted EBITDA 1,139,200   1,204,895   1,297,659   177,778     4,733,004   4,876,436   668,070  
    Adjusted EBITDA margin 46.2%   46.0%   48.2%   48.2%     48.4%   47.2%   47.2%  
    Additional Information for Discontinued Operations
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”))
     
      As of December
    31, 2023    		 As of December 31, 2024
      RMB RMB US$
    Property and equipment, net 7,401,071 16,646,191 2,280,519
    Cash 355,902 9,930,915 1,360,530
    Gross debt 5,169,734 (1) 10,417,647 1,427,212

    Note:

    1. Including amounts due to GDSH.
    Additional Information for Discontinued Operations Cont’d
    (Amount in thousands of Renminbi (“RMB”) and US dollars (“US$”)
    except for percentage data)
     
      Three months ended   Year ended
      December 31, 2023 September 30, 2024 December 31, 2024   December 31, 2023 December 31, 2024
      RMB RMB RMB US$   RMB RMB US$
                     
    Net revenue 102,853   363,209   443,413   60,747     175,737   1,262,063   172,902  
    Cost of revenue (90,862)   (252,211)   (290,131)   (39,748)     (194,570)   (859,254)   (117,717)  
    Operating expenses (66,214)   (88,776)   (150,543)   (20,624)     (233,249)   (400,336)   (54,846)  
    (Loss) income from operations (54,223)   22,222   2,739   375     (252,082)   2,473   339  
    Other expenses, net (35,020)   (110,846)   (126,457)   (17,324)     (106,494)   (346,145)   (47,422)  
    Loss from operations of discontinued operations before income taxes (89,243)   (88,624)   (123,718)   (16,949)     (358,576)   (343,672)   (47,083)  
    Income tax (expenses) benefits (790)   9,661   (66,773)   (9,148)     (800)   (57,124)   (7,826)  
    Loss from operations of discontinued operations, net of income taxes (90,033)   (78,963)   (190,491)   (26,097)     (359,376)   (400,796)   (54,909)  
    Net interest expenses 42,060   76,069   102,991   14,110     107,286   280,652   38,449  
    Income tax expenses (benefits) 790   (9,661)   66,773   9,148     800   57,124   7,826  
    Depreciation and amortization 50,650   107,739   128,662   17,627     151,271   393,735   53,941  
    Operating lease cost relating to prepaid land use rights 295   0   1,778   244     1,290   1,782   244  
    Accretion expenses for asset retirement costs 52   0   (1)   0     206   (211)   (29)  
    Adjusted EBITDA 3,814   95,184   109,712   15,032     (98,523)   332,286   45,522  
    Adjusted EBITDA margin 3.7%   26.2%   24.7%   24.7%     (56.1)%   26.3%   26.3%  
                     
    Net cash (used in) provided by operating activities (93,209)   1,636   (150,554)   (20,626)     (294,019)   (281,297)   (38,538)  
    Net cash used in investing activities (784,990)   (2,110,682)   (3,011,040)   (412,511)     (2,827,863)   (6,920,177)   (948,060)  
    Net cash provided by financing activities 958,799   2,334,112   11,441,448   1,567,472     2,892,824   16,883,042   2,312,967  
                                   

    The MIL Network –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on CRSH (100.59%), ULTY (79.43%), TSLY (76.84%), LFGY (66.79%), SNOY (63.58%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, March 19, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group A ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution
    per Share    		 Distribution Rate2,4 30-Day 
    SEC Yield3    		 ROC5 Ex-Date &
    Record Date    		 Payment
    Date
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.2640 33.60% 0.00% 0.00% 3/20/2025 3/21/2025
    LFGY YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF Weekly $0.4723 66.79% 0.00% 53.27% 3/20/2025 3/21/2025
    QDTY YieldMax™ Nasdaq 100 0DTE Covered Call ETF Weekly $0.3124 – – 47.65% 3/20/2025 3/21/2025
    RDTY YieldMax™ R2000 0DTE Covered
    Call ETF    		 Weekly $0.3193 – – 0.00% 3/20/2025 3/21/2025
    SDTY YieldMax™ S&P 500 0DTE Covered Call ETF Weekly $0.3175 – – 100.00% 3/20/2025 3/21/2025
    ULTY YieldMax™ Ultra Option Income Strategy ETF Weekly $0.0977 79.43% 0.00% 100.00% 3/20/2025 3/21/2025
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Weekly $0.0850 29.28% 61.87% 24.87% 3/20/2025 3/21/2025
    YMAX YieldMax™ Universe Fund of Option Income ETFs Weekly $0.1526 57.05% 85.03% 43.60% 3/20/2025 3/21/2025
    CRSH  YieldMax™ Short TSLA Option Income Strategy ETF Every 4 weeks $0.6458 100.59% 3.00% 98.10% 3/20/2025 3/21/2025
    FEAT YieldMax™ Dorsey Wright Featured 5 Income ETF Every 4 weeks $0.6925 25.57% 122.88% 0.00% 3/20/2025 3/21/2025
    FIVY YieldMax™ Dorsey Wright Hybrid 5 Income ETF Every 4 weeks $0.7092 25.90% 67.34% 0.00% 3/20/2025 3/21/2025
    GOOY YieldMax™ GOOGL Option Income Strategy ETF Every 4 weeks $0.3284 33.98% 4.12% 0.00% 3/20/2025 3/21/2025
    OARK YieldMax™ Innovation Option Income Strategy ETF Every 4 weeks $0.3210 51.60% 3.25% 71.26% 3/20/2025 3/21/2025
    SNOY YieldMax™ SNOW Option Income Strategy ETF Every 4 weeks $0.8119 63.58% 2.45% 0.00% 3/20/2025 3/21/2025
    TSLY YieldMax™ TSLA Option Income Strategy ETF Every 4 weeks $0.4638 76.84% 4.69% 94.16% 3/20/2025 3/21/2025
    TSMY YieldMax™ TSM Option Income Strategy ETF Every 4 weeks $0.5772 47.98% 3.59% 93.02% 3/20/2025 3/21/2025
    XOMO YieldMax™ XOM Option Income Strategy ETF Every 4 weeks $0.2950 26.06% 3.38% 77.73% 3/20/2025 3/21/2025
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Every 4 weeks $0.4357 56.11% 1.61% 97.70% 3/20/2025 3/21/2025
    Weekly Payers & Group B ETFs scheduled for next week: GPTY LFGY QDTY RDTY SDTY ULTY YMAG YMAX BABO DIPS FBY GDXY JPMO MARO MRNY NVDY PLTY
     

    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed.  The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs.  In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

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

    1   All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.

    2   The Distribution Rate shown is as of close on March 18, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3  The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

    4  Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

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

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

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here.  For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here. For RDTY, click here.

    Important Information

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

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

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

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

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

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.  Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

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

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

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

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

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

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

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

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

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

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

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

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole. 

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

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

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

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: InitVerse 2nd Anniversary Celebration — Full Breakdown of 500,000 $INI, Limited NFTs, and Exclusive Benefits

    Source: GlobeNewswire (MIL-OSI)

    TORTOLA, British Virgin Islands, March 19, 2025 (GLOBE NEWSWIRE) — InitVerse, the next-generation Web3 SaaS platform, has rapidly expanded its footprint across nine countries, including Japan, Vietnam, France, Eastern Europe, the Middle East, Turkey, the Philippines, Indonesia, and Thailand. With over 20 localized Telegram and Discord communities, InitVerse now boasts a global user base exceeding 400,000 users.

    On March 17th, InitVerse celebrates its 2nd anniversary, marking an exciting Web3 carnival where technology, profitability, and exclusivity converge. To express gratitude to the global community, InitVerse is generously distributing 500,000 $INI tokens through various activities, including NFT minting, on-chain tasks, staking and mining, and community KOL recruitment. Each activity incorporates limited-edition elements and high-reward mechanisms, creating a thrilling event that blends innovation with financial rewards.

    This article will dive deep into the anniversary celebration, focusing on technological empowerment, revenue strategies, and effective participation methods, helping you seize this golden opportunity to achieve high returns at zero cost.

    Tech at the Core: How INIChain Redefines Blockchain with Privacy Computing and Dynamic Block Partitioning

    From its inception to the upcoming 2025 mainnet launch, INIChain has established a foundational privacy computing infrastructure. Coupled with the InitVerse SaaS platform, which provides streamlined developer tools, the ecosystem covers the entire lifecycle of blockchain application development—from core privacy infrastructure to rapid dApp deployment. Together, INIChain and InitVerse have built a comprehensive ecosystem catering to miners, developers, and blockchain builders. At the core of this vibrant InitVerse ecosystem lies INIChain’s innovative technology, transforming traditional Proof-of-Work (PoW) from an “energy-intensive competition” into a collaborative privacy-computing infrastructure. The recent 2nd-anniversary event prominently showcased these groundbreaking technical capabilities:

    1. TfhEVM: The “Invisibility Cloak” for Private Smart Contracts
      • Technology Overview: TfhEVM integrates Fully Homomorphic Encryption (TFHE) with Ethereum’s EVM, enabling real-time computations on encrypted data. Input data is transformed into randomized polynomial ciphertexts, ensuring results are verifiable without decrypting sensitive information.
      • Developer Advantages: Through the InitVerse SaaS platform, Ethereum developers can easily deploy or migrate dApps with just one click, significantly reducing costs while providing robust privacy protection.
    2. DDA Mechanism: The “Hash Power Regulator” for Miners
      • Dynamic Block Partitioning: Blocks are segmented into high-privacy blocks (requiring TFHE computation) and standard blocks (traditional PoW). High-privacy blocks offer higher rewards but have a higher computational barrier, whereas standard blocks enable participation from regular CPU miners.
      • VersaHash Algorithm: A more equitable mining approach that dynamically adjusts computational difficulty, ensuring balanced earnings across miners of varying capabilities.
      • Miner Rewards Model:
        • Base Reward: Each block consistently yields 727.39 $INI, distributed proportionally based on mining contributions.
        • Privacy Computing Bonus: Miners participating in high-privacy block validation receive an additional 15% reward boost.

    Earn 500,000 $INI Risk-Free: Events You Shouldn’t Miss!

    The anniversary event offers a series of mini-challenges that caters to users of all levels, allowing you to get high returns and unique rewards. Participate via the official event page.

    Event 1: Limited NFT Minting – Guaranteed 5 $INI for First 10,000 Participants + Exclusive Epic Cards!

    • Total Rewards: 50,000 $INI + Limited Edition INIBoo NFTs
    • Event Period: From March 17th to April 13th. Split into 4 batches, each batch lasting 7 days (the first batch ends on March 13th).
    • Participation Steps: Log in to the Candy platform → Complete verification → Select the batch → Pay 0.5 $INI → Mint NFT and claim $INI.

    How It Works:

    • Step-by-Step Participation:
      • Follow InitVerse on X, join the Telegram and Discord groups—this grants eligibility for a free NFT mint.
      • $INI back immediately — even after deducting the 0.5 $INI mint cost, yielding a net profit of 4.5 $INI per mint.
    • Guaranteed Earnings:
      Each mint directly returns rewards—every user will profit at least 4.5 $INI per NFT minted.
    • Scarcity and Benefits:
      • The NFT collection “INIBoo” is limited, featuring epic cards whose availability decreases daily.
      • NFT holders get perks such as merchandise, early testing access, whitelist airdrops, exclusive event tickets, VIP privileges, and governance rights, with benefits expanding alongside ecosystem growth.

    Event 2: Earn 10 $INI + Mining Rewards in 4 Easy Steps!

    • Prize Pool: 100,000 $INI
    • Event Window: March 28 – April 16 (UTC), limited to the first 10,000 participants.

    Step-by-Step Guide:

    1. Follow the InitVerse X account and retweet the pinned tweet.
    2. Join the Telegram and Discord communities.
    3. Perform 10 mainnet transactions (e.g., token transfers between your addresses).
    4. Mine on C-Mining Pool via provided tutorials (only 5 hours required).

    After completing these tasks, claim your guaranteed 10 $INI reward.

    Extra Benefits: Double your earnings by stacking mining rewards and the 10 $INI task reward.

    Event 3: High-Yield Staking—Earn up to 50% APR!

    • Total Prize Pool: 300,000 $INI
    • Event Duration: March 28–April 16 (UTC). The staking period is fixed at 20 days, after which participation closes.
    • Eligibility: Must first complete Event 2.

    Participation Details:

    • Stake at least 10 $INI on the event page.
    • Rewards released after completing a 20-day staking period.
    • Open to all, making it accessible even to small token holders.

    Dynamic Reward:

    • If ≥50,000 participants join, staking rewards increase to 50%, encouraging collective community participation.
    • Guaranteed Minimum: Even if fewer than 20,000 users join, participants will still earn a guaranteed 10% return, far exceeding typical DeFi standards.
    • Low Barrier to Entry: Participation starts from just 10 $INI, with straightforward staking rules, ensuring inclusivity for small-scale holders.

    Ideal for: Long-term holders, community governance participants, and those seeking to maximize returns.

    Event 4: 50,000 $INI Partnership Program

    Details:
    Seeking partnerships and influencers who can bring additional traffic and collaborate with InitVerse.

    • Application:
      Directly message on Telegram: @samylmz

    Final Thoughts:

    InitVerse’s 2nd anniversary emphasizes universal community engagement, attractive rewards, and unique privileges, distributing 450,000 $INI directly to participants, with an additional 50,000 $INI allocated to strategic partnerships. This celebration isn’t just about rewards—it’s a decentralized initiative showcasing the power of community-driven innovation, paving the way for blockchain’s future.

    About InitVerse:

    InitVerse is an automated Web3 SaaS platform designed for streamlined DApp development and deployment, backed by INIChain and INICloud. It simplifies blockchain app creation, enhancing development efficiency through comprehensive, user-friendly tools.

    Contact:
    Sami Yilmaz
    support@inichain.com

    Disclaimer: This press release is provided by INIChain. 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. 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. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.

    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 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/a50c8380-529d-4650-97e4-fed7f10f3ace

    The MIL Network –

  • MIL-OSI Russia: Health Science – Moscow Scientists Prove Telemedicine Effectiveness for Patients with Inflammatory Bowel Diseases

    Translartion. Region: Russians Fedetion –

    Source: Center for Diagnostics and Telemedicine

    Researchers from Moscow have confirmed the effectiveness of telemedicine in the treatment of inflammatory bowel disease (IBD), demonstrating that remote monitoring and online consultations can significantly improve patient outcomes.

    Center for Diagnostics and Telemedicine.

    A recent study found that patients who received care through a specialized telemedicine platform reported lower levels of anxiety, better treatment adherence, and overall improved quality of life compared to those who received traditional in-person consultations.

    At the same time, studies show that remote monitoring is comparable to in-person monitoring in its ability to reduce disease activity and improve quality of life.

    In a recent study involving more than 60 patients diagnosed with inflammatory bowel disease, scientists compared two different treatments.

    One group received traditional face-to-face consultations, while the other used a specialized medical web platform. This platform allowed patients to report their health status and participate in online consultations with gastroenterologists.

    The aim of the study was to assess a range of well-being indicators, including quality of life, levels of anxiety and depression, patient satisfaction with health care and adherence to prescribed medication regimens.

    The experiment was conducted jointly with the Center for Diagnostics and Telemedicine and the First Moscow State Medical University named after I.M. Sechenov.

    The results of the study showed a significant reduction in anxiety levels in the telemedicine group, by 30% compared to the face-to-face group. In addition, depression decreased by 29%, and colon pain sensitivity by 27%. Notably, both groups experienced a reduction in disease severity.

    According to Yuri Vasiliev, General Director of the Center for Diagnostics and Telemedicine of the Moscow Department of Health and Chief Consultant for Radiology of the Moscow Department of Health, the results obtained clearly demonstrated the benefits of remote treatment.

    “The results obtained highlight the effectiveness of telemedicine in the treatment of inflammatory bowel diseases,” Vasiliev noted.

    “By using digital platforms, patients can have more convenient access to treatment, which can lead to improved psychological outcomes and greater adherence to treatment plans.”

    This design allows for a comprehensive assessment of the impact of telemedicine on the treatment of inflammatory bowel diseases in the context of Russian healthcare.

    The study began in 2023 and is part of Moscow’s broader efforts to integrate telemedicine and artificial intelligence into healthcare.

    This study adds to the growing body of evidence supporting the role of telemedicine in chronic disease management, highlighting its potential to increase access, improve patient outcomes and reduce the burden on health systems.

    The Diagnostics and Telemedicine Center, established in 1996, is a leading scientific and practical organization within the Moscow City Hall Social Development Complex. The Center is engaged in the implementation of artificial intelligence in medicine, the development of radiology and medical personnel training programs.

    MIL OSI Russia News –

  • MIL-OSI United Nations: Mozambique and Tanzania strengthen South-South cooperation in early warning and disaster preparedness

    Source: UNISDR Disaster Risk Reduction

    Dodoma, Tanzania – On 3-4, March 2025, a delegation from Mozambique visited Tanzania’s Emergency Operations and Communication Centre (EOCC) National Situation Room in Dodoma. This visit was part of a technical advisory mission co-organized by UNDRR, the CIMA Foundation and the African Union Commission as part of the African Multi-Hazard Early Warning and Action System (AMHEWAS) programme.

    Tanzania and Mozambique face similar and often transboundary threats, such as droughts, floods and cyclones. Strengthening cooperation between their respective disaster risk management authorities is critical for improving coordination in early warning and early action efforts within the Southern African Development Community (SADC).

    During the visit, Mozambique’s National Disaster Management Institute had the opportunity to engage with Tanzania’s Disaster Management Department counterparts and observe the operational framework of Tanzania’s National Situation Room, which was inaugurated in June 2024, supported by the Government of Italy.

    The insights gained from this exchange will be instrumental in the ongoing modernization of Mozambique’s own National Situation Room in Maputo. Within the Italian Agency for Development Cooperation funded Ready2Act project in Mozambique, the situation room will be refurbished and better connected with AMHEWAS.

    Additionally, the exchange will inform the installation of a pilot province-level situation room in Beira, set to further strengthen Mozambique’s disaster risk management infrastructure. Mozambique also hosts the SADC Humanitarian and Emergency Operations Centre (SHOC) in Nacala that is connected to AMHEWAS.

    “This event in Dodoma is a practical example of what AMHEWAS can and should be, a network for exchanging risk information, but also, and above all, knowledge and experience, between experts and institutions.” said Mr. Luca Ferraris, President of CIMA Research Foundation

    The mission highlighted the value of South-South cooperation in disaster risk reduction, showcasing how shared experiences and collaborative learning can enhance national and regional capacities. By leveraging Tanzania’s experience, Mozambique aims to refine its own institutional mechanisms, improve connectivity with AMHEWAS, and ensure timely and coordinated disaster response.

    “The technical exchange mission with ourTanzanian counterparts was timely as Mozambique is working towards upgrading its own Situation Room. As Tanzania launched its own Situation Room in 2024, they already have some valuable experience and lessons that Mozambique can learn from. More so, Mozambique and Tanzania are neighbours, with similar risk profiles and often experience transboundary risk. This exchange builds the foundation for information sharing for better transboundary risk management.” Mr. Alberto Armando, head of the Mozambique Delegation.

    Through the AMHEWAS network, disaster risk management authorities of both countries can strengthen their relations, enabling experience and information sharing for a more coordinated management of warnings and emergencies.

    “Natural phenomena become disasters without adequate prevention. AICS works with stakeholders to enhance early warning and early action systems at all levels. Italy, renowned for its expertise in risk management and civil protection, has contributed to establishing Situation Rooms in Addis Ababa (continental level), regional centers in Niamey, Nairobi, and Abuja, and a national office in Dodoma. This know-how strengthens Partner Countries’ resilience and response capacity.” Marco Riccardo Rusconi, Director of the Italian Development Cooperation Agency. 

    This visit marks an important step in fostering resilience against climate-related disasters in the region. Through continued cooperation and knowledge sharing, both Mozambique and Tanzania are setting a precedent for effective and coordinated disaster risk management in Africa.

    “This technical exchange represents a learning opportunity, and an opportunity to reinforce the partnership among different AMHEWAS stakeholders. It is from such events that we can collectively take stock of our progress and identify priorities for further investment in early warning systems.” Tsitsi Magadza, Programme Management Officer for Early Warning Systems, UNDRR. 

    MIL OSI United Nations News –

  • MIL-OSI Russia: Health Science – Moscow Scientists Demonstrate the Effectiveness of Telemedicine for Patients with Inflammatory Bowel Disease

    Source:  Center for Diagnostics and Telemedicine
     
    Researchers in Moscow have confirmed the effectiveness of telemedicine in managing inflammatory bowel disease (IBD), demonstrating that remote monitoring and online consultations can significantly improve patient outcomes.
    Center for Diagnostics and Telemedicine.
    A recent study found that patients who received care via a specialized telemedicine platform reported lower anxiety levels, better adherence to treatment, and an overall improved quality of life compared to those receiving traditional face-to-face consultations.
    Simultaneously, study indicate that remote monitoring is comparable to in-person monitoring in its ability to reduce disease activity and improve quality of life.
    In a recent study involving over 60 patients diagnosed with inflammatory bowel diseases, researchers implemented a comparative analysis between two distinct care methods.
    One group received traditional face-to-face medical consultations, while the other group used a specialized health web platform. This platform enabled patients to report their health status and engage in online consultations with gastroenterologists.
    The study aimed to evaluate a range of well-being indicators, including quality of life, levels of anxiety and depression, patient satisfaction with medical care, and adherence to prescribed medication regimens.
    This experiment is a collaborative effort between the Center for Diagnostics and Telemedicine and the I.M. Sechenov First Moscow State Medical University.
    The findings revealed a significant reduction in anxiety among the telemedicine group, with levels 30% lower than those in the face-to-face group. Additionally, depression decreased by 29%, and colonic pain sensitivity was reduced by 27%. Notably, both groups experienced a decrease in disease severity.
    According to Yuri Vasiliev, CEO of the Center for Diagnostics and Telemedicine of the Moscow Healthcare Department and Chief Consultant for Radiology in the Moscow Healthcare Department, the results clearly demonstrated the benefits of remote care.  
    “The results underscore the effectiveness of telemedicine in managing inflammatory bowel diseases,” Vasilev noted.
    “By leveraging digital platforms, patients can access care more conveniently, which may lead to improved psychological outcomes and better adherence to treatment plans.”
    “IBD patients require continuous treatment and lifelong follow-up. These conditions, including Crohn’s disease and ulcerative colitis, can significantly impact quality of life, making it difficult for patients to visit hospitals regularly. Our research confirms that telemedicine provides a more convenient and accessible alternative, reducing the need for frequent hospital visits while maintaining high standards of care,” said Anton Vladzimirskyy, Dr.Sc. and Deputy Director for Research at the Center for Diagnostics and Telemedicine. 
    The study, titled “Effectiveness of Telemedicine in Inflammatory Bowel Diseases in Russia,” is a randomized controlled trial. It comprises three stages: (1) patient selection and random assignment into two groups with a 1:1 allocation ratio, (2) follow-up care utilizing either telemonitoring or traditional face-to-face appointments, and (3) evaluation and comparison of the efficacy of follow-up in both groups.
    This design allows for a comprehensive assessment of telemedicine’s impact on managing inflammatory bowel diseases in the Russian healthcare context.
    The research began in 2023 and is part of Moscow’s broader efforts to integrate telemedicine and artificial intelligence into healthcare.
    This study adds to a growing body of evidence supporting the role of telemedicine in managing chronic diseases, highlighting its potential to enhance accessibility, improve patient outcomes, and reduce the burden on healthcare systems. 
    The Center for Diagnostics and Telemedicine, established in 1996, is a leading scientific and practical organization within the Social Development Complex of the Moscow Mayor’s Office. The Center focuses on the implementation of AI in medicine, the advancement of radiology, and the development of medical training programs. 

    MIL OSI Russia News –

  • MIL-OSI Russia: How Moscow companies are implementing digital technologies in business

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Moscow companies that have completed the pilot part of the federal project “Labor Productivity” have begun to implement digital technologies to improve the efficiency of business processes. Comprehensive support in this regard is provided to enterprises by the regional Moscow Competence Center and the federal ANO “Digital Technologies of Productivity”, created in 2021 as part of the implementation of the national project “Labor Productivity”. This was reported by Maria Bagreeva, Deputy Mayor of Moscow, head of the capital’s Department of Economic Policy and Development.

    “Companies that participated in pilot projects have already achieved significant results due to lean technologies. The next step is the implementation of digital solutions to improve efficiency. We offer participants in the federal project comprehensive support – from diagnosing bottlenecks to selecting and implementing advanced automation and digitalization solutions. This allows businesses not only to optimize the use of manual labor, but also to abandon it where there are digital services that significantly increase productivity and competitiveness,” emphasized Maria Bagreeva.

    The project offers Moscow companies various services and programs for digitalization and automation. This allows for the optimization of operations and the improvement of business process efficiency. Over 600 digital solutions covering key areas of activity are available to enterprises. For example, they are helped to debug supply chains, improve customer service, implement a video analytics system with artificial intelligence and technological process monitoring programs. In addition, the services facilitate the automation of warehouse logistics and the introduction of biometric identification of employees using a facial recognition algorithm.

    Three participants in the federal project have already begun implementing digital technologies to improve productivity. All enterprises that have completed the first phase of the federal project are expected to join the project.

    For example, the company “GS Cosmetics” is going to increase the efficiency of the brewing shop by introducing digital technologies into the processes of accounting, control and planning. For this purpose, additional functions will be introduced into the 1C system and a special mobile application for operators will be developed. Thanks to the innovations, the speed of operations will increase, the volume of production will increase, the number of defects will be minimized and production losses will be reduced.

    Logistics company LogLab intends to implement neural network video analytics to improve the efficiency of warehouse employees. Artificial intelligence will analyze video from cameras in the warehouse, which will speed up the processing of goods, reduce the time for acceptance and shipment, and reduce the likelihood of errors in counting and identifying products. All this can significantly increase the throughput of the warehouse and improve safety and management efficiency.

    The SV Teips company plans to use the WMS warehouse business process automation system to improve the efficiency of logistics operations and reduce costs. The service will help improve inventory accuracy, reduce product processing time, reduce the likelihood of errors and prevent the risks of shortages and surpluses. In addition, warehouse analytics will improve, personnel and storage costs will decrease, and the quality of customer service will increase.

    The national project “Labor Productivity” was implemented in Moscow in 2022-2024 at the expense of the city budget. Earlier, Sergei Sobyanin reported, that all 419 capital participants of the national project have completed the pilot stage and are now independently implementing a culture of continuous improvement.

    As part of the federal project “Labor Productivity”, which is part of the national project “Efficient and competitive economy”, Moscow companies continue to increase labor productivity at enterprises. Applications for participation are accepted on the website of the regional Moscow Competence Center.

    19 residents of the Technopolis Moscow SEZ have completed the pilot stage of the national project “Labor Productivity”

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151428073/

    MIL OSI Russia News –

  • MIL-OSI Economics: Samsung Members Connect 2025: A Galaxy AI-Powered Experience at SRI-Noida

    Source: Samsung

     
    The 2025 edition of Samsung Members Connect at Samsung R&D Institute India, Noida (SRI-Noida) brought together 74 passionate Galaxy users for an immersive journey into the world of Galaxy AI and the Galaxy S25 Series. This exclusive event offered a deep dive into AI-driven personalization, seamless productivity, enhanced gaming, and next-gen camera experiences, making it an unforgettable day for Samsung Members.
     
    A Day of Learning, Fun & Innovation
    The day kicked off with a welcome address by Samsung leaders, setting the stage for an insightful exploration of Samsung’s latest innovations. Participants got an exclusive first look at One UI 7.x, learning how it enhances personalization, convenience, and security across devices.
     
    “Samsung Members Connect is more than just an event—it’s a unique platform where our engineers and passionate users come together, exchange ideas, and experience the future of technology firsthand. Their feedback drives us to keep pushing boundaries,” said Kyungyun Roo, Managing Director, SRI-Noida.
     

     
    To keep the energy high, engaging energizer sessions were woven throughout the event, creating an interactive and exciting atmosphere.
     
    “Being part of Samsung Members Connect is always special, but this time, the focus on AI-powered personalization and seamless device integration truly blew my mind!” shared Ashutosh Singhal, a thrilled participant.
     
    The Multi-Device Experience segment showcased Samsung’s connected ecosystem, emphasizing seamless transitions between the Galaxy S25 series, Galaxy Watch, and Galaxy Buds for an effortless productivity and entertainment experience.
     

     
    Next-Gen Gaming & Creative Camera Innovations
    For gaming enthusiasts, the Enhanced Game Performance session provided insights into how AI optimizations in the Galaxy S25 series are delivering smoother gameplay, faster response times, and immersive visuals.
     
    “As a mobile gamer, I was amazed to see the AI-powered improvements in gaming performance. The live demos truly showcased how the S25 series is redefining mobile gaming,” said Ravi Joshi, another Samsung Member.
     
    Samsung’s Creative Camera Experience was a major highlight, featuring hands-on photography workshops where users explored advanced AI-powered editing tools and pro-grade photography features on the Galaxy S25 Ultra. The event also included a contest, challenging participants to capture the best creative shots using their devices.
     
    A Celebration of Innovation & Community
    Beyond the tech, Samsung Members Connect was filled with fun activities, a facility tour, contests, and a lucky draw. The day concluded with a cake-cutting ceremony, group photo, and hi-tea, celebrating the shared passion for innovation.
     
    With an outstanding 95% positive feedback, the event was a resounding success, reaffirming Samsung’s commitment to delivering meaningful innovation and building a thriving community of Galaxy enthusiasts.
     
    Until next time, keep exploring the endless possibilities with Galaxy AI!

    MIL OSI Economics –

  • MIL-OSI NGOs: Cholera and Mpox cases increasing dangerously in DRC as aid cuts push health systems to near-collapse

    Source: Oxfam –

    Preventable diseases are sweeping the Democratic Republic of Congo (DRC). Cholera cases increased by 326, Mpox by 269, and measles by 95 people in North Kivu alone, during the last week of February, according to Oxfam’s partners on the ground. 

    In January, new cases of cholera infections in the country more than doubled to over 3,850, and 67 people died, which is three times more deaths than the previous month, Oxfam calculates based on WHO data.  

    Ongoing violence and USAID funding suspension is accelerating the collapse of DRC’s fragile health system, leaving millions defenseless against preventable diseases like cholera.   

    Since the start of the conflict this year, DRC has faced major setbacks in controlling cholera and Mpox. The country lacks testing centers and functional hospitals. The destruction of displacement camps during the violence, including vital water and sanitation infrastructure, is making the situation worse. 

    “This is turning into a full-blown humanitarian catastrophe. People are drinking water straight from contaminated rivers and springs because water tanks and sanitation facilities have been destroyed. When you combine this with a collapsed health system, cholera is spreading like wildfire,” said Oxfam DRC Country Director, Dr Manenji Mangundu.  

    “Imagine a hospital without supplies, people drinking untreated water, and patients without much money still being asked to pay for their care. It’s a disaster.” he added.   

    The suspension of USAID-funded programs in the DRC is already having devastating consequences for vulnerable communities. These abrupt cuts are an immediate threat to the lives of 7.8 million internally displaced people (IDPs) who are already struggling for food, water and shelter. The worst-affected areas include Kirotshe and the city of Goma, where displaced families in overcrowded conditions have little to no access to clean water. More than 70 health facilities and testing centers in North Kivu have been completely destroyed. Those that are running are unable to cope with the multiple outbreaks of preventable diseases.   

    “Our hospital was 100 percent dependent on humanitarian support,” said Kamara Wabomundu, staff member of the CCLK/Bulimba Health Zone Central Office, one of Oxfam partners. “When our funding was cut, everything collapsed—we had no backup plan. Neither the hospitals nor the communities were prepared. We are asking people to pay for care when they can’t even afford their next meal,” added Kamara. 

    “USAID was the leading donor in DRC and most aid agencies here relied on its funding to provide life-saving assistance. The international community needs to understand that the systems are rapidly collapsing in DRC. Every moment of inaction means more lives are being lost that could be saved,” added Dr Mangundu 

    The closure of banks and microfinance institutions has made the situation even worse, paralyzing the distribution of emergency aid through cash transfers. The shutdown of Goma and Kavumu airports has also driven up food prices, making them too expensive for millions of people. 

    /ENDS 
     

    According to the World Health Organization (WHO) from January 1 to 26, 2025, 3,853 cases of cholera infections and 67 deaths were confirmed which represents a 112 percent increase from the previous month in infection rates as well as a 235 percent increase in deaths in DRC. Data on February infections and deaths comes from Oxfam partners working in DRC.  

    The United States Agency for International Development (USAID) is the leading humanitarian donor in the Democratic Republic of the Congo (DRC). Last year’s report indicates that it provided over $838 million in 2024 alone, including $414 million specifically for humanitarian needs resulting from the ongoing conflict and displacement.  

    According to the UN  2025 Humanitarian Response Plan, there are 7.8 million Internally Displaced People (IDP) in DRC — among the world’s highest displacement figures.  

    MIL OSI NGO –

  • MIL-OSI China: US judge finds Musk’s USAID cuts likely unconstitutional

    Source: China State Council Information Office

    A U.S. federal judge ruled on Tuesday that the dismantling of the U.S. Agency for International Development (USAID) has likely violated the Constitution, and ordered an indefinite pause on further cuts to the agency.

    U.S. District Judge Theodore Chuang in Maryland ordered the administration of U.S. President Donald Trump to restore email and computer access to all USAID employees, including those on administrative leave, though the ruling does not reverse firings or fully restore the agency.

    The lawsuit was filed by USAID employees and contractors, arguing that Elon Musk and his Department of Government Efficiency (DOGE) are wielding power reserved by the Constitution for elected officials or those confirmed by the Senate.

    The judge rejected DOGE’s argument that Musk’s role is merely an adviser to Trump, finding that Musk has “firm control over DOGE.”

    DOGE’s fast-moving destruction of USAID likely harmed the public interest by depriving elected lawmakers of their “constitutional authority to decide whether, when and how to close down an agency created by Congress,” ruled the judge.

    The ruling came as a significant setback for Musk and the Trump administration, which had been rapidly dismantling USAID over the past two months. The administration has also placed top security officials on forced leave, terminated a large portion of the agency’s program contracts and ordered most staff members off the job through forced leaves and firings.

    Chuang did not stop the mass terminations of USAID’s contracts and the firing of personnel. Though likely unconstitutional, these moves were approved by unnamed government officials, said the judge.

    The judge’s decision is seen as a milestone in pushback against DOGE, with critics arguing that the rapid dismantling of USAID has disrupted global humanitarian relief efforts and harmed the public interest.

    Trump told Fox News that his administration would appeal the ruling. “I guarantee you we will be appealing it. We have rogue judges that are destroying our country,” Trump said.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Cabinet approves implementation of revised Rashtriya Gokul Mission with enhanced allocation for the years 2024-25 and 2025-26

    Source: Government of India (2)

    Posted On: 19 MAR 2025 4:19PM by PIB Delhi

    The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has today approved the Revised Rashtriya Gokul Mission (RGM) to boost growth in livestock sector.  Implementation of revised RGM, as Central Sector component of Development Programmes scheme is being done with an additional outlay of Rs.1000 crore that is total outlay of Rs.3400 crore during 15th Finance Commission cycle from 2021-22 to 2025-26.

    Two New activities added are: (i) One-time assistance of 35% of the capital cost for establishment of Heifer Rearing Centres to Implementing Agencies for creation of 30 housing facilities having total 15000 heifers and (ii) To encourage farmers to purchase High genetic merit (HGM) IVF heifers to provide 3% interest subvention on loan taken by the farmer from milk unions / financial institutions/ banks for such purchase.  This will help in systemic induction of high yielding breeds.

    The revised Rashtriya Gokul Mission is approved with an allocation Rs.3400 crore during 15th Finance Commission cycle (2021-22 to 2025-26).

    The scheme is for continuation of ongoing activities of Rashtriya Gokul Mission- strengthening of semen stations, Artificial Insemination network, implementation of bull production programme, accelerated breed improvement programme using sex sorted semen, skill development, farmer awareness, support for innovative activities including establishment of Centre of Excellence, strengthening of Central Cattle Breeding Farms and strengthening of Central Cattle Breeding Farms without any change in the pattern of assistance in any of these activities.

    With the implementation of the Rashtriya Gokul Mission and other efforts of the Government, milk production has increased by 63.55% in the last ten years, along with the availability of milk per person, which was 307 grams per day in 2013-14, has increased to 471 grams per day in 2023-24. Productivity has also increased by 26.34% in the last ten years.

    The Nationwide Artificial Insemination Programme (NAIP) under the RGM provides free of cost Artificial Insemination (AI) at the farmer’s doorstep in 605 districts across the country where the baseline AI coverage was below 50%. Till date, over 8.39 crores animals have been covered and 5.21crores farmers have been benefitted. RGM has also been at the forefront in bringing the latest technological interventions in breeding to the farmer’s doorstep. A total of 22 in vitro fertilization (IVF) labs have been set up across the country under the State Livestock Boards (SLBs) or in Universities and over 2541 HGM calves have been born. Two path breaking steps in Atmanirbhar technology are the Gau Chip and Mahish Chip, genomic chips for indigenous bovines developed by National Dairy Development Board (NDDB) and ICAR National Bureau of Animal Genetic Resources (NBAGR) and Gau Sort indigenously developed sex sorted semen production technology developed by NDDB.

    The scheme is set to significantly boost milk production and productivity, ultimately increasing farmers’ incomes. It focuses on the protection and preservation of India’s indigenous bovine breeds through systematic and scientific efforts in bull production and the development of indigenous bovine genomic chips. Additionally, in Vitro Fertilization (IVF) has become an established technology, due to the initiatives taken under the scheme. This initiative will not only enhance productivity but also improves livelihoods of 8.5 crores farmers engaged in Dairying.

    *****

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: PALIAMENT QUESTION: RESEARCH AND INNOVATION IN S &T

    Source: Government of India (2)

    Posted On: 19 MAR 2025 4:12PM by PIB Delhi

    The Research and Development (R&D) measures increased the exposure of the students in academic institutions to real-world problems and created opportunities for working on the state-of-the-art R&D infrastructure created in the Country. These measures cultivated critical thinking and innovation skills, bridged the gap between theoretical knowledge and practical applications and helped in building a very strong academia-industry ecosystem wherein research lead to technology transfer. R&D in academic institutions thus increased the exposure of students beyond the confines of traditional education and propelled them to the forefront of global competitiveness, positioning them for cutting-edge research, interdisciplinary collaboration, intellectual contributions and preparing them for the demands of a knowledge-driven society.

    The impact of R&D measures taken by the Government in increasing exposure of students in academic institutions is given below:

    The total Ph.D. enrolment in India has increased to 81.2% in 2021-2022 (2.13 lakh) from 2015-2016 (1.17 lakh). In 2021-22, female enrolment in PhD programs in India doubled to 99,000 (0.99 lakh) from 48,000 (0.48 lakh) in 2014-15, representing a significant increase in women’s participation in higher education, especially at the PhD level. In the year 2021-22, Gross Enrolment Ratio (GER) in higher education for the age group 18-23 years is estimated as 28.4, as compared to 23.7 in 2014-15. Female GER has increased to 28.5 in 2021-22 from 22.9 in 2014-15. Of the total enrolment in 2021-22, the number of Student enrolment in STEM for UG, PG, Ph.D. and M.Phil. levels is 98,49,488 (25.6%).

    The details of various measures taken by the Government to collaborate with academic institutions to foster research and innovation in science and technology, thereby increasing exposure of students in academic institutions to Research and Development is given in Annexure – I.

     

    ANNEXURE – I

    1. Department of Biotechnology (DBT)

    (a) Fellowship Programmes: DBT has taken significant steps to collaborate with academic institutions to foster research and innovation in science and technology. The Department has established several fellowship programs and initiatives that enhance collaboration between researchers and academic institutions. The DBT – Junior Research Fellowship Programme, DBT-RA Program in Biotechnology and Life Sciences, Ramalingaswami Re-entry Fellowship, Biotechnology Career Advancement and Re-orientation (BioCARe) Fellowship, and M K Bhan Fellowship programs represent significant initiatives by the Department to foster collaboration with academic institutions. These programs enhance exposure to research environments by creating pathways for researchers to engage with academic institutions, establish research groups, mentor students, and contribute to India’s scientific advancement.

    (b) R&D Infrastructure: DBT has been supporting the development of research infrastructure at universities and research institutes across the country under Research Resource, Service Facility and Platform (abbreviated as RRSFP) Programme through the following components

    • DBT- Boost to University Interdisciplinary Life Science Departments for Education and Research Programme (DBT-BUILDER) which focuses on upgrading the post-graduate teaching and training laboratories by enabling interdisciplinary advanced research and teaching capacity emphasizing discovery and innovation in proposed research areas, addressing emerging technologies with inter-disciplinary cross talk. In the DBT-BUILDER programme a total of 45 Universities and Institutes were supported, comprising 9 Central University, 14 State University, and 22 Private Universities or Postgraduate Colleges. Across these institutions, 177 departments received support, with 34 in central universities, 56 in state universities, and 87 in private institutions.
    • DBT – Scientific Infrastructure Access for Harnessing Academia University Research Joint Collaboration (DBT-SAHAJ) aims at creating “national” service facility/research resource/platform to provide access to resources that could not be provided by any single researcher’s laboratory or scientific department. The Unified Online Booking Portal under the DBT-SAHAJ lists available equipment, user charges, and availability, allowing users to book facilities in advance.

    (c) Star College Programme: The Star College Programme was initiated by DBT in 2008 to support colleges and universities offering undergraduate education to improve science teaching across the country. This Programme was launched for improving critical thinking and encouraging ‘hands on’ experimental science at undergraduate level in basic science subjects. On a larger perspective, the programme was initiated envisioning that it shall encourage more students to take up higher education in science. Through this programme the Department identifies colleges with potential for excellence and provides support for developing infrastructure for academics and laboratory activities. This support is in turn expected to invigorate teaching and provide unique exposure of students to experimental science.

    (d) DBT-BIRAC Amrit Team Grant: is a new program of Department of Biotechnology (DBT) to support new and innovative collaborative research programs involving academia, the clinic and start-ups.

     

    2. Department of Scientific & Industrial Research (DSIR)

     

    1. and Postdoctoral fellowships: The Council of Scientific and Industrial Research (CSIR) under the Department of Scientific & Industrial Research (DSIR), Ministry of Science and Technology through its “Capacity Building and Human Resource Development Scheme” carried out by National S&T Human Resource Development Group (HRDG) has been providing doctoral and postdoctoral fellowships to young budding researchers through its various fellowship programmes. These young researchers are basically involved in science and technology development. The main objective of the programme is to nurture the budding scientific talent and to nourish the objective of pursuit of scientific research. The CSIR supported research fellows are working in more than 650 academic and R&D institutions. Apart from doctoral and postdoctoral fellowships, CSIR provides financial assistance to academic and R&D institution to carry out basic and applied research in the frontier and emerging areas of science and technology. These research projects of CSIR awarded to academic and R&D institutions are also a source of S&T human resource development as the principal investigators of these research projects are a guiding force and train young researchers in recent trends of science and technology research. These researchers contribute in the scientific publications, patents, technology, processes and overall development of S&T in the country. It is an established fact that the number of research articles published from an academic institute are proportional to the number of research scholars. This is the pool of young researchers being utilised by universities and R&D institutions for their research and development work/activities and is a precious S&T asset of the country. The research activities such as doctoral and postdoctoral fellowships and research grants are contributing in the scientific development of the country as India has attained 3rd position in terms of publishing the Science and Engineering research articles, contributed in increase in researchers per million populations from India which has now reached to 260 in 2020 compared to 215 in 2015.

     

    3. Department of Science and Technology (DST)

     

    DST is making several efforts through its various schemes and programmes to collaborate with academic institutions to foster research and innovation in science and technology, thereby increasing exposure of students in academic institutions to Research and Development. Details of significant initiatives are given below.

     

    (a) Innovation in Science Pursuit for Inspired Research (INSPIRE): The Scheme aims at attracting young talent toward pursuing research as a career by leveraging the existing educational structure for talent identification, without conducting any competitive exams. Covering meritorious youth from school to university levels, the scheme supports those interested in studying science and choosing scientific research as a career. It facilitates human capacity building through scholarships, fellowships, and research exposure, enabling students to develop their skills and pursue opportunities in scientific research. The Scheme has the following components to create a robust ecosystem for cultivating future leaders in scientific research:

    • INSPIRE Internship: Provides exposure to the top 1% of students at the Class X Board level by organizing Science Camps during summer or winter. These camps allow students to interact with renowned scientists, including Nobel Laureates, fostering curiosity and inspiring them to pursue science at an early age (16-17 years).
    • Scholarship for Higher Education (SHE): Offers 12,000 scholarships annually to meritorious students aged 17-22 years, encouraging them to study basic and natural sciences at the undergraduate level with additional scholarship and mentorship support.
    • INSPIRE Fellowship: Awards 1,000 fellowships annually to students aged 22-27 years for pursuing Ph.D. in basic and applied sciences, including engineering, medicine, agriculture, and veterinary sciences.
    • INSPIRE Faculty Fellowship: Provides 100 fellowships annually to young researchers aged 27-32 years with a Ph.D. qualification, offering them the opportunity to carry out research in both basic and applied science areas for a duration of 5 years, helping them establish themselves as independent researchers.

     

    (b) Fund for Improvement of S&T Infrastructure (FIST): The Schemes supports basic infrastructure and enabling facilities for promoting R&D activities in new and emerging areas and attracting fresh talents in universities & other educational institutions. It is considered as complimentary support for enabling Departments/ Centres/ Schools/ Colleges to pursue research activities more effectively and efficiently It was launched in 2000 under the Department of Science & Technology (DST). The duration of support for each FIST Project will be 5 years and will have 4 levels – Level-0, Level-1, Level-2, and Level-3. The programme has played a crucial role in fostering academic and research growth by providing financial support to a vast network of 3072 departments and PG colleges with an allocated budget of approximately Rs 3130.82 crores. This consistent support has significantly contributed to the advancement of scientific and technological endeavours across various universities and colleges, fuelling innovation and progress in India’s educational landscape.

     

    (c) Sophisticated Analytical and Technical Help Institutes (SATHI) Centres: These Centres organizes training program for researchers, MSME and start-ups for sensitization and utilization of high-end equipment and provides appropriate level platform for networking and to explore possibilities for collaborative research and sharing of data, among the participants.

     

    (d) Promotion of University Research and Scientific Excellence” (PURSE): The Scheme aims to bolster the Research and Development (R&D) foundation of universities nationwide. The primary objective is to enhance the research capabilities of Indian universities, fostering a robust research ecosystem and strengthening their R&D bases.

     

    (e) Women in Science and Engineering-KIRAN (WISE-KIRAN): ensures the participation of women in the field of Science and Technology (S&T) through various gender-enabling programmes. The various components of the Scheme for improving the exposure of women to Research and Development are given below.

    • The WISE Fellowship Programme aims to provide support to women who want to pursue a Ph.D and Post Doctorate
    • Women’s Instinct for Developing and Ushering in Scientific Heights & Innovations (WIDUSHI): WIDUSHI Programme aims to encourage and support senior women scientists to conduct research in interdisciplinary areas of Science & Technology
    • WISE Internship in Intellectual Property Rights (WISE-IPR) – WISE-IPR programme provides one-year training to women in the area of Intellectual Property Rights in order to develop a core professional skill in this domain
    • Women International Grant Support (WINGS): WINGS Programme provides opportunities to Indian Women scientists to undertake research in the International research labs and academic institutions
    • Consolidation of University Research for Innovation and Excellence (CURIE): CURIE Programme provides support to women institutions for establishing State-of-the art research infrastructure to enhance research facilities and improving R&D activities in order to create excellence in Science & Technology (S&T) domain
    • VigyanJyoti programme aims to encourage girls to pursue higher education and career in STEM (Science, Technology, Engineering and Mathematics) especially in the areas where women participation is low in order to balance gender ratio across the streams

     

    (f) The Anusandhan National Research Foundation (ANRF), erstwhile Science and Engineering Research Board (SERB) provides a wide range of fellowship which had increased the exposure of students to foster research and innovation in science and technology.

     

    4. Department of Higher Education:

     

    (a) The Prime Minister’s Research Fellowship (PMRF) Scheme: PMRF was introduced in 2018, with the objective to attract top talent to doctoral research in India, particularly in Science and Technology, by offering attractive fellowships at institutions like IITs, IISc, and IISERs. The PMRF scheme aims to improve the quality of research in higher educational institutions and foster innovation. The scheme is offered at all IITs, IISERs, Indian Institute of Science (IISc) Bangalore, and some top Central Universities/NITs that offer science and/or technology degrees. The fellowship covers a research grant of Rs. 2 lakhs per year (up to Rs. 10 lakhs for five years). A new version of the PMRF scheme, PMRF 2.0, was announced in the current budget with the introduction of 10,000 fellowships over the next 5 years to boost R&D and provide enhanced PhD fellowships. Industry participation in the PMRF program is explored through CSR funding or otherwise to enable industry to sponsor Fellows.

     

    (b) University Grants Commission (UGC): The UGC supports research and innovation in educational institutions through schemes like “Teaching and Research in Interdisciplinary and Emerging Areas,” encouraging innovative proposals and specialized courses, and promoting Research Development Cells (RDCs) to foster a strong research ecosystem.

     

    (c) All India Council for Technical Education (AICTE): AICTE supports research and innovation in technical education through various schemes, including the AICTE-Research Promotion Scheme (RPS), AICTE AURA, and by promoting infrastructure development, faculty development, and industry-institute interaction.

     

    This information was given by Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, MoS PMO, Department of Atomic Energy, Department of Space, Dr. Jitendra Singh in a written reply in the Lok Sabha today.

     

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  • MIL-OSI United Kingdom: UK science uncovers mysteries of dark universe with Euclid data

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK science uncovers mysteries of dark universe with Euclid data

    Cutting-edge UK research is benefiting the European Space Agency’s Euclid mission, with new data released today (19 March) set to uncover the secrets of dark energy and matter. 

    Euclid visual: ESA/Euclid/Euclid Consortium/NASA. Background galaxies: NASA, ESA, and S. Beckwith (STScI) and the HUDF Team Euclid observations: ESA/Euclid/Euclid Consortium/NASA, image processing by J.-C. Cuillandre, E. Bertin, G. Anselmi

    The wealth of new data from the mission – described as the ultimate discovery machine – includes details of 500 galaxies that seem to experience a phenomenon known as strong lensing. 

    This is where light from more distant galaxies is bent around closer galaxies due to gravity, like how light is focused through a glass lens on Earth.  

    The way the light bends indicates the total mass, which includes both visible matter and, potentially, dark matter – so scientists can analyse this, begin to identify where dark matter is located, and understand its properties.   

    Euclid’s data is revolutionising the study of strong lensing. New techniques using machine learning and AI have been developed to find these rare objects. Citizen science has also contributed significantly, with over 1000 volunteers participating in visual inspections. 

    This image shows examples of gravitational lenses that Euclid captured in its first observations of the Deep Field areas. Credit: ESA/Euclid/Euclid Consortium/NASA, image processing by M. Walmsley, M. Huertas-Company, J.-C. Cuillandre

    UK Science Minister, Lord Vallance said:  

    The UK space sector is playing a leading role in the Euclid mission which, as this new data shows, is revealing more about the role of gravity in our Universe, and the nature of dark energy and matter. The British-made visible imager and data processing tools are central to these observations.  

    The technological advances achieved in missions like this will not only benefit our understanding of the universe, but may help us to better process data here on Earth, helping us to grow our economy and support our Plan for Change. 

    The Euclid mission, launched in July 2023, carries a visible imager (VIS) from the UK, funded by £37 million from the UK Space Agency. The VIS, designed and built by a UCL-led team, is a super high-resolution camera (609 million pixels), with a focal plane about the size of a large pizza box, that can take incredibly detailed pictures of the sky. It is currently observing billions of galaxies up to 10 billion light years away.  

    The new data release includes observations of distant regions of space, displaying hundreds of thousands of galaxies and many transient phenomena—astronomical events that are temporary or short-lived relative to cosmic history. These include supernovae (explosions of stars at the end of their life cycles), gamma-ray bursts (extremely energetic explosions observed in distant galaxies), and fast radio bursts (brief but intense bursts of radio waves from unknown sources in space). 

    All of this allows scientists to gain insights into the dynamic processes occurring in the universe. The release classifies over 380,000 galaxies and 500 gravitational lens candidates. 

    This is a zoom-in of Euclid’s Deep Field North, showing the Cat’s Eye Nebula in the centre of the image, around 3000 light-years away. Also known as NGC 6543, this nebula is a visual ‘fossil record’ of the dynamics and late evolution of a dying star. This dying star is shedding its outer colourful shells. Credit: ESA/Euclid/Euclid Consortium/NASA, image processing by J.-C. Cuillandre, E. Bertin, G. Anselmi

    ESA’s Director of Science, Prof. Carole Mundell, said:

    Euclid shows itself once again to be the ultimate discovery machine. It is surveying galaxies on the grandest scale, enabling us to explore our cosmic history and the invisible forces shaping our Universe.

    The ‘quick’ data release 

    Euclid ‘quick’ releases, such as this one, are of selected areas, intended to demonstrate the data products to be expected in the major data releases that follow, and to allow scientists to sharpen their data analysis tools in preparation. The mission’s first cosmology data will be released to the community in October 2026. 

    Aprajita Verma, a Senior Researcher at the University of Oxford, said:

    This early data release showcases the amazing images that we will receive from the Euclid telescope. Even in this tiny area (less than 0.5% of the Euclid survey), Euclid has revealed millions of galaxies in exquisite detail.

    Nestled among these galaxies are strong gravitational lenses. This rare phenomenon is seen around massive galaxies that can distort or warp space-time so much that light from objects behind them can be brought into view as rings, arcs or multiple images.  

    Verma said:

    This is exactly what has been revealed in this early Euclid data, and at a higher frequency than we’ve seen from surveys with ground-based telescopes.

    The team used a combination of machine learning with visual inspection from citizen scientists and the team to develop an efficient discovery engine.  

    Phil Holloway, PhD student at the University of Oxford said: 

    Incredibly, over 1000 citizen scientists volunteered to hunt for the strong lenses through the Space Warps project on the Zooniverse platform. We are amazed by the interest, dedication and skill of the citizen scientists, we wouldn’t have been able to find 500 of these rare gems without them! This was a huge collaborative effort and this early data signposts that there will be many discoveries to be made with the Euclid Wide Survey – there are exciting times ahead!

    Space Warps is a dedicated project to discover strong gravitational lenses co-founded by Phil Marshall, Anupreeta More, and Aprajita Verma on the Zooniverse citizen science platform. 

    Professor Thomas Collett, from the University of Portsmouth’s Institute of Cosmology and Gravitation, said:

    Euclid has provided spectacular image quality across a huge area of the sky, which is critical to discovering small, rare objects. We’ve found 500 new strong gravitational lenses in the Euclid dataset.  

    These are galaxies distorted into rings of light by the mass of another foreground galaxy. We have combined the strengths of machine learning and citizen scientists to sift out these rare objects from the millions of other galaxies in Euclid. These new lenses will allow us to make new measurements of the mysterious dark matter and dark energy that make up 95% of our Universe but which are poorly understood.

    Euclid’s transformative capabilities 

    Before Euclid, astronomers had to choose between wide-field images from lower resolution telescopes like the Dark Energy Survey in Chile, or detailed zoomed-in images from telescopes like Hubble, but only on small regions. Euclid, with its 609 megapixel camera led by the UK, combines both panoramic mode and detailed imaging. The area mapped in this release is already a significant fraction of all the sky covered by Hubble since 1990.   

    This innovation is transformative for strong lensing studies, which require large panoramic images to locate rare objects and detailed views to analyse them.  

    Professor Adam Amara, Chief Scientist at the UK Space Agency, who first proposed the idea for Euclid, said: 

    Previously, astronomers like me used wide low-resolution surveys to find strong lenses and then requested Hubble for follow-up observations. Now, Euclid accomplishes both tasks in one shot.  

    This data release is the first clear evidence that Euclid will be a unique rare object finder (as well as an exquisite dark energy measuring machine). In terms of rare objects in the universe, I’m excited to see what ‘unknown-unknowns’ it will discover – it’s been a long wait.

    Professor Mark Cropper (Mullard Space Science Laboratory at UCL), who led on designing and developing Euclid’s VIS optical camera over 16 years, working with teams at UCL, Open University and across Europe, said:  

    Euclid is allowing us to understand the universe on another level entirely. It gives us fine detail over a vast scale. To pick one example, Euclid found 70,000 globular clusters – very old, tightly packed groups of stars – in the Perseus Cluster of galaxies. And it has found 500 strong gravitational lenses, where light from distant galaxies has been bent by intervening matter – that doubles the number we knew about previously. All this and much more in just two days of data.

    Dr James Nightingale , Research Fellow, Newcastle University School of Mathematics, Statistics and Physics said: 

    For the past decade, my research has been defined by painstakingly analysing the same 50 strong gravitational lenses, but with the Q1 data release, I was handed 500 new strong lenses in under a week. It’s a seismic shift — transforming how I do science practically overnight.

    UK involvement and contributions 

    The UK has played a pivotal role in the Euclid mission, contributing significantly to the development of both the mission’s instruments and data processing capabilities. 

    Marie-Claire Perkinson, Chair of UKSpace Space Science and Exploration Committee said: 

    The UKSpace Space Science and Exploration committee is delighted to see this data release and the knowledge generated by this exciting mission. We are pleased to see a strong UK contribution – including UKspace member Teledyne who are providing the instrument detectors.  

    Mullard Space Science Laboratory and XCAM Ltd. have also made significant contributions to the development of the mission, providing leadership of the VIS instrument, and the Charge-Coupled Device test bench (CCD) test bench for the Euclid visible channel.

    Daniel Waller, General Manager and Vice-President of Teledyne Space Imaging in Chelmsford Essex said: 

    Teledyne Space Imaging delivered the detectors for both the VIS and NISP instruments for Euclid. We are humbled by the astonishing detailed results that has been returned so far. The teams here in Chelmsford and in California feel privileged to have made their contribution to this scientific endeavour of understanding our Universe.

    In addition to the VIS instrument UK scientists and institutions around the country have developed bespoke data processing tools for Euclid and are analysing the wealth of data being returned by the mission. Five key papers led by UK researchers are shared as part of this data release. 

    Professor Mike Lockwood, President of the Royal Astronomical Society, said:  

    To see UK astronomers, space scientists and engineers playing key roles in this extraordinary scientific endeavour is truly inspiring – and what’s even better is that this is just the beginning. 

    We can look forward to Euclid giving us the most detailed ever 3D map of the cosmos, helping to solve the biggest cosmic mysteries – what the universe is made of, how it evolved, and what its future holds.

    The wider benefits of space science  

    The ripple effects of technological advances in space science extend far beyond the realm of space exploration, driving advances and growth across multiple sectors in the UK. The need for compact and efficient technology in space missions has led to advancements in miniaturisation, which benefit consumer electronics such as smartphones and laptops.

    In healthcare, machine learning techniques developed for imaging technologies used in space exploration are being adapted to create more precise medical imaging techniques, potentially improving diagnosis and patient outcomes. The vast amounts of data collected by missions like Euclid are processed using advanced algorithms, which are now being used in healthcare to analyse patient data and predict disease outbreaks. 

    Updates to this page

    Published 19 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: Governor Newsom proclaims Women’s Military History Week

    Source: US State of California 2

    Mar 18, 2025

    Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring March 17, 2025 through March 23, 2025, as Women’s Military History Week.

    The text of the proclamation and a copy can be found below:

    PROCLAMATION

    From the Revolutionary War to today, women have played vital roles in our nation’s defense, answering the call to serve and demonstrating courage and dedication in every branch of the military – even before they could officially serve. Women’s Military History Week honors these women, recognizing their resilience, sacrifice, and leadership.

    World War II marked a turning point with the creation of the Women’s Army Corps and the historic 6888th Central Postal Directory Battalion, an all-Black and all-woman unit that ensured frontline troops received their mail. These forerunners helped pave the way for the full integration of women into all military roles, including combat positions.

    Breaking down barriers has always made our military – and our country – stronger. This week, we celebrate all the women who have chosen to serve this country, no matter the cost to themselves, and we honor the history they’ve made in doing so. 

    From U.S. Army Sergeant Sagen Maddalena, silver medal winner in the 2024 Summer Olympics, to Captain Sage Fox, the first transgender soldier to openly serve, to our own CalVet Secretary Lindsey Sin, California is home to countless women who have selflessly and bravely put their lives on the line – all of them history makers in their own way.

    Each of these servicemembers, whether they’re active-duty or a veteran, those with us today and those who have passed on, deserve recognition and respect. At a moment when important parts and people of military history are being removed, we take this moment to acknowledge women’s military history. Our military is strong because of its many parts – because it draws on the strengths of our people, coming together in unity and in defense of our country.

    Women’s Military History Week is a time to recognize these achievements and reaffirm our commitment to a military where all servicemembers have equal opportunities and recognition. Their stories inspire us and remind us of the strength that diversity brings to our U.S. Armed Forces.

    NOW THEREFORE I, GAVIN NEWSOM, Governor of the State of California, do hereby proclaim March 17-23, 2025, as “Women’s Military History Week.”

    IN WITNESS WHEREOF I have hereunto set my hand and caused the Great Seal of the State of California to be affixed this 16th day of March 2025.

    GAVIN NEWSOM
    Governor of California

    ATTEST:
    SHIRLEY N. WEBER, Ph.D.
    Secretary of State

    Recent news

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    Mar 18, 2025

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    Mar 18, 2025

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    MIL OSI USA News –

  • MIL-OSI USA: Millions of Californians to get average of $137 in credits on their April utility bills thanks to state’s climate program

    Source: US State of California 2

    Mar 18, 2025

    What you need to know: California will provide a total of $2.4 billion in utility bill credits this year thanks to the state’s Cap-and-Trade program that funds critical climate action.

    SACRAMENTO – Today, Governor Gavin Newsom announced millions of Californians will receive an average of $137 in credits on their April gas and electric bills. The California Climate Credit – automatically applied to Californians’ bills every April and October – is a direct result of the state’s nation-leading Cap-and-Trade climate program that requires polluters to pay for climate action.

    Since 2014, California households have already received an average of $1,120 in combined automatic April and October climate credits on their utility bills.

    Every year, our Cap-and-Trade program provides essential funding to California’s efforts to clean the air while also giving residents money back on their utility bills. Millions of California families will benefit from this relief.

    Governor Gavin Newsom

    Since 2014, the state’s Cap-and-Trade program has delivered $10.9 billion in bill credits back to utility customers. This year, California will provide a total of $2.4 billion in residential credits – $1.4 billion for electric customers, $1 billion for natural gas customers, and an additional $122 million for small businesses.

    How it works

    The credits range from $35 to $259 for electricity bills – with most set to receive $56 to $81 – and approximately $54 to $87 on natural gas bills for residential customers of PG&E, San Diego Gas & Electric, Southern California Gas Company, and Southwest Gas. Californians can check how much their credit will be here.

    Californians do not need to do anything to get the credit. The California Climate Credit comes from the State’s Cap-and-Trade Program managed by the California Air Resources Board. The credit on utility bills represents the consumer’s share of the payments from the State’s program.

    In addition to utility bill credits, California’s Cap-and-Trade program has funded $28 billion in climate investments delivering more than half a million projects across the state, supporting 30,000 jobs and cutting millions of tons of carbon emissions. The investments include a wide range of solutions such as putting affordable housing near job centers, building the nation’s first high-speed rail, and adding zero-emission transportation options in underserved communities.

    Press Releases, Recent News

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    Mar 18, 2025

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    Mar 17, 2025

    News SACRAMENTO – Governor Gavin Newsom issued the following statement regarding the death of San Bernardino County Sheriff’s Deputy Hector Cuevas Jr.:“Jennifer and I are deeply saddened by the tragic loss of Deputy Cuevas. Our heartfelt condolences go out to his…

    MIL OSI USA News –

  • MIL-OSI Russia: Rosneft to Present Latest Achievements in Hydrocarbon Production in Ufa

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    The Rosneft Scientific Institute in Ufa will hold a scientific and technical conference “Innovative Technologies in Hydrocarbon Production” from May 20 to 23, 2025. The co-organizer is the Academy of Sciences of the Republic of Bashkortostan. More than 700 leading representatives of the oil industry and scientists from different cities of Russia are expected to participate.

    The large-scale event will combine the Company’s traditional conferences “Digital Technologies in Hydrocarbon Production” and “Practical Aspects of Oilfield Chemistry”. The program will cover key issues of oil and gas production: from prospecting and exploration to field development design. Participation in the conference will allow you not only to get acquainted with theoretical aspects, but also to discuss real production situations.

    The conference sections will be devoted to the following topical issues:

    oil and gas field development: digital projects and technologies, practical aspects of oilfield chemistry, artificial intelligence in the oil and gas industry, training and advanced training of personnel, modern IT solutions in the field of capital construction, mathematical modeling technologies.

    The event will also include a competition for the best information models* of capital construction projects among Rosneft employees. Scientists from corporate institutes will present their developments in this area. Specialists from production enterprises will show the most effective examples of implementing information models in production.

    Registration of participants is open until April 21 on the website HTTPS: // Events.rn. Digital/Conf/it 2025.

    *A building information model (BIM model) is a detailed model, a data storage of the object’s geometry, materials and equipment. It is used throughout the entire life cycle of the object: during construction, reconstruction, operation and dismantling.

    Department of Information and Advertising of PJSC NK Rosneft March 19, 2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: CONTROLLING OF SPAM CALLS BY TRAI

    Source: Government of India

    Posted On: 19 MAR 2025 3:27PM by PIB Delhi

    The Telecom Regulatory Authority of India (TRAI) has amended the Telecom Commercial Communications Customer Preference Regulations (TCCCPR), 2018 on 12.02.2025 which has, inter-alia, following provisions:

    1. A customer can now make a complaint about spam/ Unsolicited Commercial Communication (UCC) within 7 days of receiving spam as compared to earlier 3-day time limit.
    2. Time limit for taking action by the access providers against the UCC from unregistered senders has been reduced from 30 days to 5 days.
    3. To ensure prompt action against the senders of UCC, the criterion for taking action against them has been revised and made more stringent. As compared to earlier criterion of ‘having 10 complaints against the sender in last 7 days’ to trigger action, it has been modified to ‘having 5 complaints against the sender in last 10 days’.

     

    These amendments shall come into force after thirty days from the date of their publication in the Official Gazette except regulation 8, regulation 17; sub-clauses (a) and (b) of regulation 20; and sub-clause (b) of regulation 21, which shall come into force after sixty days of publication of these regulations in the Official Gazette. Moreover, TRAI issued directions on 13.08.2024 to disconnect all telecom resources of unregistered Senders/ Unregistered Telemarketers (UTMs) which are being used for making spam calls and to blacklist such Senders. Access Providers have taken widespread actions which has led to a significant reduction in the complaints against UTMs from 1,89,419 in August 2024 to 1,34,821 in January 2025. More than 1150 Number of entities/individuals have been blacklisted & more than 18.8 lakh telecom resources have been disconnected. 

    This information was given by the Minister of State for Communications and Rural Development, Dr. Pemmasani Chandra Sekhar in a written reply to a question in Lok Sabha today.

    *****

    Samrat/Allen

     

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