'That draw feels like a win' - City fans react to Baggies tieAs AI systems become increasingly integral to devices such as smartphones, autonomous vehicles, and data centres, the use of gold has surged due to its unparalleled properties, according to the World Gold Council report. Gold demand in the electronics sector peaked in 2010 at 328 tons but gradually declined to 249 tons by 2023. Recent quarters, however, have shown a modest recovery, driven in part by the expansion of AI-enabled devices. As manufacturers strive to meet the technological demands of AI, gold’s unique properties ensure its continued relevance in high-performance electronic applications. Gold’s exceptional electrical conductivity and resistance to corrosion make it indispensable in advanced hardware components, ensuring high-speed data processing, minimal energy loss, and long-lasting performance. The healthcare and financial sectors, among others, are heavily investing in AI to boost innovation and efficiency, further amplifying gold’s demand. As these industries expand their reliance on AI, gold’s role in delivering reliable and efficient electronic components is becoming more prominent. From processors to sensors, gold remains a critical material for enabling AI-driven technology. As per the WGC report, the rising cost of gold, which recently surpassed Rs 72,056 per 10 grams (USD 2,700 per ounce), poses significant challenges for manufacturers. During previous price surges, like those between 2001 and 2011, industries responded by substituting gold with alternatives such as silver or copper and adopting thrifting techniques to reduce usage. Yet, most of the “easy” reductions have already been implemented, leaving little room for further cost-saving measures without compromising performance. Despite technological shifts in areas like LED production–where gold-free mini-LEDs are gaining ground–the growing complexity of AI systems is likely to sustain demand for gold. Beyond AI, gold’s versatility underpins its significance in other industries. In healthcare, it is used in therapeutic devices and as a key component in diagnostics and experimental drug delivery systems. In aerospace, gold protects sensitive satellite and spacecraft components from extreme temperatures and radiation. Additionally, in clean energy technologies, gold serves as a chemical catalyst in processes like hydrogen production and carbon dioxide transformation. (ANI)
Vance takes on a more visible transition role, working to boost Trump’s most contentious picksPep Guardiola gives Man City brutal Anfield warning over Premier League title hopes | Sporting News
Hideo Kojima offers another Death Stranding 2 update and a demonstration of his unique PS5 controller technique: "Building the game"
Libra, Weekly Horoscope, December 29 to January 04, 2025: Cautious financial management neededAmbarella, Inc. Announces Third Quarter Fiscal Year 2025 Financial Results
The Trojans moved up three spots in the AP Top 25 after beating the then-No. 4 Huskies 72-70 on Saturday night in a rematch of last season's Elite Eight game that UConn won. "It feels great to get the dub always," USC star JuJu Watkins said after the victory. "I think it hit a little different knowing the history of last year and how they sent us home." This was the Trojans' first win ever over UConn. "This is a really significant win, and it's a really significant win because of the stature of UConn's program and what Geno Auriemma has done for our sport," USC coach Lindsay Gottlieb said. "It doesn't matter to me that they haven't won a championship in a couple years. There's still a way that they prepare, a way that they play, that makes you better, and it made us better." UCLA, South Carolina and Notre Dame remained the top three teams. The Bruins received 30 of the 32 first-place votes from a national media panel. The Gamecocks and the Fighting Irish each got one first-place vote. UConn fell to seventh behind Texas and LSU. Maryland, Oklahoma and Ohio State rounded out the top 10 teams. Falling Blue Devils Duke dropped five spots to No. 14 after losing to South Florida on Saturday. The Blue Devils' other two losses this season were to Maryland and South Carolina. The Bulls are 7-6 on the season, with four of those losses coming against ranked opponents (UConn, Louisville, TCU and South Carolina). Welcome back Alabama jumped back into the poll at No. 20 two weeks after falling out. The Crimson Tide had an impressive 82-67 victory over Michigan State, handing the Spartans their first loss of the season. It was Alabama's first victory over a ranked opponent this year. Conference breakdown The Southeastern Conference has eight teams in the poll this week with Alabama's return. The Big Ten is next with seven. The ACC has six while the Big 12 has three and the Big East one. Game of the week No. 23 Michigan at No. 4 USC, Sunday. The Wolverines start Big Ten play with a trip to Los Angeles to face the Trojans on Sunday and then the Bruins a few days later. Coach Kim Barnes Arico's young team is off to a 10-2 start.Virgo, Weekly Horoscope, December 29 to January 04, 2025: Love, career, and financial aspects see promising developments
Bluesky basicsSouthern California jumped to No. 4 in The Associated Press women's college basketball poll on Monday after edging UConn. The Trojans moved up three spots in the AP Top 25 after beating the then-No. 4 Huskies 72-70 on Saturday night in a rematch of last season's Elite Eight game that UConn won. "It feels great to get the dub always," USC star JuJu Watkins said after the victory. "I think it hit a little different knowing the history of last year and how they sent us home." This was the Trojans' first win ever over UConn. "This is a really significant win, and it's a really significant win because of the stature of UConn's program and what Geno Auriemma has done for our sport," USC coach Lindsay Gottlieb said. "It doesn't matter to me that they haven't won a championship in a couple years. There's still a way that they prepare, a way that they play, that makes you better, and it made us better." UCLA, South Carolina and Notre Dame remained the top three teams. The Bruins received 30 of the 32 first-place votes from a national media panel. The Gamecocks and the Fighting Irish each got one first-place vote. UConn fell to seventh behind Texas and LSU. Maryland, Oklahoma and Ohio State rounded out the top 10 teams. Duke dropped five spots to No. 14 after losing to South Florida on Saturday. The Blue Devils' other two losses this season were to Maryland and South Carolina. The Bulls are 7-6 on the season, with four of those losses coming against ranked opponents (UConn, Louisville, TCU and South Carolina). Alabama jumped back into the poll at No. 20 two weeks after falling out. The Crimson Tide had an impressive 82-67 victory over Michigan State, handing the Spartans their first loss of the season. It was Alabama's first victory over a ranked opponent this year. The Southeastern Conference has eight teams in the poll this week with Alabama's return. The Big Ten is next with seven. The ACC has six while the Big 12 has three and the Big East one. No. 23 Michigan at No. 4 USC, Sunday. The Wolverines start Big Ten play with a trip to Los Angeles to face the Trojans on Sunday and then the Bruins a few days later. Coach Kim Barnes Arico's young team is off to a 10-2 start. Get local news delivered to your inbox!
Trump taps Rollins as agriculture chief, completing proposed slate of Cabinet secretariesHow parties fared across 5 regions of Maharashtra
Leafs head into Christmas break on a downer in loss to JetsMan found dead named as murder investigation continues
CAL ST.-FULLERTON (0-5) Hernandez 5-10 0-0 10, Levingston 5-8 0-0 10, Lagway 6-13 0-0 13, Stanton 3-9 3-4 9, Strachan 0-6 2-2 2, Falsdottir 2-5 1-2 7, Muniz 3-7 0-0 7, Totals 24-58 6-8 58 WASHINGTON (5-1) Daniels 3-9 2-5 8, Eke 0-1 0-0 0, Ladine 8-18 3-4 20, Sellers 4-7 1-2 9, Stines 3-9 0-0 7, Gillmer 2-5 0-0 5, McDonald 1-2 0-0 2, Briggs 0-1 0-0 0, Brown 1-1 0-0 3, Coppinger 2-6 2-2 8, Totals 24-59 8-13 62 Cal St.-Fullerton 15 22 14 7 — 58 Washington 17 17 21 7 — 62 3-Point Goals_Cal St.-Fullerton 4-9 (Lagway 1-2, Stanton 0-1, Falsdottir 2-2, Muniz 1-4), Washington 6-21 (Daniels 0-2, Ladine 1-5, Stines 1-6, Gillmer 1-3, Brown 1-1, Coppinger 2-4). Assists_Cal St.-Fullerton 12 (Hernandez 4), Washington 10 (Daniels 5). Fouled Out_Cal St.-Fullerton Levingston. Rebounds_Cal St.-Fullerton 25 (Lagway 7, Levingston 7), Washington 42 (Daniels 9). Total Fouls_Cal St.-Fullerton 16, Washington 17. Technical Fouls_None. A_1,575.Where I Live: Westcliff resident feels ‘a strong sense of belonging’ in welcoming community
Mumbai, Dec 28 (IANS): Leading brokerage Ventura Securities Ltd has set a bullish target of Rs 3,801 for Adani Enterprises Ltd's (AEL) stock, which is a potential upside of 57.8 per cent over the next 24 months. The share of Adani Group's flagship company is currently trading at Rs 2,409 apiece. In a bull case scenario, the target price rises to Rs 5,748, which would mark an upside of 138.6 per cent, the brokerage said in its note. “We have assumed revenue of Rs 1,66,615 crore (FY24-27E CAGR of 20 per cent) and an EBITDA margin of 20 per cent at an EV/EBITDA of 23.4X, which will result in a bull case price target of Rs 5,748," said the brokerage. Adani Enterprises is on a strong growth trajectory, as per the note by Ventura. Over fiscal years 2024 to 2027, its consolidated revenue is expected to grow at a compounded annual growth rate of 17.5 per cent to Rs 1.56 lakh crore. "EBITDA and net margins are projected to expand by 647 basis points to 18.3 per cent and 255 bps to 5.9 per cent, respectively," it said, adding that "return ratios – RoE and RoIC – are expected to improve by 563 bps to 14.5 per cent and 99 bps to 11.3 per cent, respectively". According to the note, this growth will be driven by the company’s expansion of airport, solar, and wind turbine businesses, as well as revenue contributions from copper business. The Adani Group’s flagship company is targeting Rs 6.5-7 lakh crore in capital expenditure over the next decade, primarily focusing on airports, data centres, copper, and green hydrogen, Ventura said. "This expansion will be funded through debt, which is expected to lead to an increase in the company's debt-to-equity and debt-to-EBITDA ratios over the next few years," it added.After Trump's Project 2025 denials, he is tapping its authors and influencers for key roles
- Raising the mid-points of billings, revenue, margins, earnings per share, and free cash flow guidance ranges. - Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year Constant currency change compared to prior fiscal year (In millions, except percentages) $ % % Net Revenue: Americas U.S. $ 579 $ 520 $ 59 11 % * Other Americas 126 120 6 5 % * Total Americas 705 640 65 10 % 11 % EMEA 580 516 64 12 % 13 % APAC 285 258 27 10 % 14 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % 12 % ____________________ * Constant currency data not provided at this level. Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year (In millions, except percentages) $ % AEC $ 751 $ 675 $ 76 11 % AutoCAD and AutoCAD LT 398 372 26 7 % MFG 307 269 38 14 % M&E 83 73 10 14 % Other 31 25 6 24 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Q4 FY25 Guidance Metrics Q4 FY25 (ending January 31, 2025) Revenue (in millions) $1,623 - $1,638 EPS GAAP $1.21 - $1.27 EPS non-GAAP (1) $2.10 - $2.16 ____________________ (1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.17 for the amortization of both purchased intangibles and developed technologies, and $0.05 for acquisition-related costs, partially offset by ($0.18) related to GAAP-only tax charges. Full Year Fiscal 2025 FY25 Guidance Metrics FY25 (ending January 31, 2025) Billings (in millions) $5,900 - $5,980 Up 14% - 15% Revenue (in millions) (1) $6,115 - $6,130 Up approx. 11% GAAP operating margin 21.5% - 22% Non-GAAP operating margin (2) 35.5% - 36% EPS GAAP $4.95 - $5.01 EPS non-GAAP (3) $8.29 - $8.35 Free cash flow (in millions) (4) $1,470 - $1,500 ____________________ (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance range would be approximately 1 percentage point higher. (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, and approximately 1% related to acquisition-related costs. (3) Non-GAAP earnings per diluted share excludes $3.15 related to stock-based compensation expense, $0.61 for the amortization of both purchased intangibles and developed technologies, $0.23 related to acquisition-related costs, and $0.04 related to losses on strategic investments, partially offset by ($0.69) related to GAAP-only tax charges. (4) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved. Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) Net revenue: Subscription $ 1,457 $ 1,314 $ 4,195 $ 3,777 Maintenance 9 12 31 40 Total subscription and maintenance revenue 1,466 1,326 4,226 3,817 Other 104 88 266 211 Total net revenue 1,570 1,414 4,492 4,028 Cost of revenue: Cost of subscription and maintenance revenue 105 94 305 285 Cost of other revenue 19 21 57 62 Amortization of developed technologies 23 12 62 34 Total cost of revenue 147 127 424 381 Gross profit 1,423 1,287 4,068 3,647 Operating expenses: Marketing and sales 525 439 1,474 1,344 Research and development 378 339 1,092 1,021 General and administrative 161 165 477 438 Amortization of purchased intangibles 13 10 37 31 Total operating expenses 1,077 953 3,080 2,834
ROSEVILLE, Minn. (AP) — Republicans will start the year with at least a temporary majority in the Minnesota House after a Democrat decided not to appeal a judge's decision that he failed to establish residency in the suburban district he was elected to represent. That means Republicans will have a slim 67-66 majority in the House when the Legislature begins Jan. 14. That may not last long because Gov. Tim Walz has already scheduled a Jan. 28 special election in the Democratic-leaning district that Curtis Johnson won by 30 points in November. “While I disagree with the conclusions reached by the District Court, I recognize that whatever the decision on appeal the ultimate decision belongs to the Legislature, where it appears there is no viable pathway for me being allowed to retain my seat,” Johnson said in his resignation letter Friday. “Rather than dragging this out further, I have decided to resign now, so that a special election can be held as soon as possible.” Ramsey County Judge Leonardo Castro ruled last week that Johnson didn’t live in the Roseville-area district for the required six months ahead of the election and is therefore ineligible to serve. Johnson's Republican challenger, Paul Wikstrom, presented surveillance video and photos in court to show Johnson did not reside in the apartment he claimed as his residence. The St. Paul Pioneer Press reported that the lack of utility hookups and regular activity at the apartment reinforced that conclusion. Republican Rep. Lisa Demuth, who is in line to become House speaker with the GOP in control, said she is pleased the judge's decision will stand. Previously, leaders of both parties had been working out a power-sharing agreement given that the chamber was expected to be divided equally 67-67. “This confirms that Republicans will have an organizational majority on day one, and we look forward to ensuring that a valid candidate represents District 40B in the upcoming legislative session,” Demuth said in a statement. Although Democrats argue that Republicans would need to have at least 68 seats to control the House. The Democrats' narrow one-vote control of the Senate — combined with Walz's veto power — will be able to stop Republicans from being able to pass laws, but the GOP could still push its agenda. Republicans will have working control of committees to advance bills to the floor, which could force Democrats from swing districts to face tough decisions on bills. And Republicans could try to launch investigations they have been seeking for a long time into the Walz administration and problems it has had limiting fraud. Demuth also questioned whether Walz has the power to set the special election so quickly even before the Legislature certifies the vacancy. If that argument prevails that would extend Republican control of the House longer, but the secretary of state's office told Minnesota Public Radio that Walz's order setting the special election is proper. Whenever the election happens, Democrats are confident they will win the seat, current House speaker Rep. Melissa Hortman said. “A prompt special election will allow the voters of District 40B to ensure that they will be represented in the Minnesota House for the bulk of the session,” Hortman said in a written statement. “We expect the district will again vote to elect a Democrat by overwhelming margins.” A pending court challenge in a different suburban district could also affect the balance of power in the House, but it appears Democrats will likely prevail in that dispute. Incumbent Democratic Rep. Brad Tabke, of Shakopee, was declared the winner by 14 votes over Republican Aaron Paul despite 20 missing ballots that were accepted but never counted and then apparently thrown away. At a hearing, his attorneys presented six of those affected voters who testified that they supported Tabke, which would be enough to preserve his win. A judge is expected to decide within the next few weeks how to proceed. The Associated Press