Quarterly net revenues were RMB539.4 million (US$76.9 million) 1 Quarterly lidar shipments were 134,208 units SHANGHAI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”), (NASDAQ: HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended September 30, 2024. Operational Highlights Management Remarks “We are thrilled to share that our business continues to thrive and advance on a strong growth path,” said Yifan “David” Li, Hesai’s Co-Founder and CEO. “This quarter, we have made significant strides in the ADAS market, securing new design wins, partnerships, and development programs with key players, including a Top 3 OEM in Japan, SAIC Volkswagen, Leapmotor, and a premium EV brand backed by a leading Chinese automotive group. We also have reached a key milestone in our global expansion by successfully delivering B-sample units for our worldwide shipping programs with a leading global automotive OEM. OEMs at home and abroad have widely recognized lidar's essential safety features as a critical component in their holistic safety systems, similar to an ‘active’ seat belt or airbag. Furthermore, lidar’s versatility, with applications in emerging areas such as industrial robotics, smart factories and logistics, continues to garner attention. Our latest flagship product, OT128, a 360° mechanical, automotive-grade long-range lidar, is designed for scalable deployment in robotaxi and industrial applications. We are actively exploring new use cases and engaging with customers across both ADAS and AM sectors, leveraging our full lineup of versatile lidars. “I am also delighted to announce that Andrew Fan has joined us as our Chief Financial Officer. Andrew brings a wealth of experience in financial strategy and corporate finance, as well as an impressive track record of driving growth and operational efficiency in dynamic industries. His insights and leadership will be invaluable as we navigate the evolving landscape and continue to strengthen our position in the global lidar industry,” Dr. Li continued. “Andrew's strategic vision aligns seamlessly with our goals, and I believe his commitment to innovation and financial rigor will help us unlock new levels of success. I am confident that with his expertise and dedication, we are well-positioned for another exciting chapter of growth and accomplishment.” Mr. Andrew Fan, Hesai’s CFO, added, “Our strong third quarter financial performance was highlighted by robust operational execution across all key metrics. Quarterly shipment volume reached 134,208 units, marking our second consecutive quarter of nearly 50% sequential growth and propelling net revenues to RMB539.4 million (US$76.9 million), surpassing the upper range of our guidance. We maintained a robust blended gross margin of 47.7%, driven by effective cost management and our flywheel approach to cost and scale optimization. The margin was further bolstered by NRE revenues from our L4 lidar, which is being prepared for potential large-scale deployment by a leading global robotaxi player in the coming years. Our strong commitment to operational efficiency and financial discipline has also enabled us to consistently reduce our GAAP net loss for four consecutive quarters. Looking ahead, we’re expecting a record-breaking fourth quarter, with lidar shipments projected to reach 200,000 units—an astounding volume nearly matching our total shipments in 2023. Based on our current estimates, fourth quarter net revenues are expected to soar to nearly US$100 million, delivering an estimated net profit of US$20 million and a positive operating cash flow. Additionally, we anticipate achieving full-year profitability on a non-GAAP basis for 2024, positioning us to become the first automotive lidar company worldwide to achieve this remarkable milestone. This anticipated explosive growth underscores our robust momentum as we drive toward a landmark fiscal year finish!” Financial Highlights for the Third Quarter of 2024 (in RMB millions, except for per ordinary share data and percentage) Business Outlook For the fourth quarter of 2024, the Company expects net revenues to approach US$100 million (RMB702 million). The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Conference Call The Company’s management will host an earnings conference call at 8:00 PM U.S. Eastern Time on November 25, 2024 (9:00 AM Beijing/Hong Kong Time on November 26, 2024). For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call. Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://investor.hesaitech.com . A replay of the conference call will be accessible approximately an hour after the conclusion of the call until December 3, 2024, by dialing the following telephone numbers: About Hesai Hesai is the global leader in three-dimensional light detection and ranging (lidar) solutions. The Company’s lidar products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. The Company’s commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai integrates lidar designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability. Hesai has established strong relationships with leading automotive OEMs, autonomous vehicle, and robotics companies worldwide, covering over 40 countries as of December 31, 2023. Use of Non-GAAP Financial Measures To supplement Hesai's consolidated financial results presented in accordance with GAAP, Hesai uses the following measures defined as non-GAAP financial measures by the SEC: loss from operation excluding share-based compensation expenses, net loss excluding share-based compensation expenses, net loss attributable to ordinary shareholders excluding share-based compensation, and per ordinary share net loss attributable to ordinary shareholders excluding share-based compensation. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release. Hesai believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. Hesai believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to Hesai's historical performance and liquidity. Hesai believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that they exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP financial measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.0176 to US$1.00, the exchange rate on September 30, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all. 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 “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; the trends in, expected growth and the market size of the ADAS, autonomous mobility and robotics industries; the market for and adoption of lidar and related technology; the Company’s ability to produce high-quality products with wide market acceptance; the success of the Company’s customers in developing and commercializing products using its solutions, and the market acceptance of those products; the Company’s ability to introduce new products that meet its customers’ requirement; the Company’s expectations regarding the effectiveness of its marketing initiatives and the relationship with its third-party partners; competition in the Company’s industry; the Company’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to the Company’s industry; the Company’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: Hesai Group Yuanting “YT” Shi, Investor Relations Director Email: ir@hesaitech.com Piacente Financial Communications Jenny Cai Tel: +86 (10) 6508-0677 Email: hesai@tpg-ir.com In the United States: Piacente Financial Communications Brandi Piacente Tel: +1-212-481-2050 Email: hesai@tpg-ir.com Source: Hesai Group _______________________________________ 1 All translations from RMB to USD for the third quarter of 2024 were made at the exchange rate of RMB7.0176 to US$1.00, the exchange rate on September 30, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. 2 See “Use of Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” included in this release for further details.
CLEVELAND, Ohio — A starter in the St. Edward defensive backfield since his sophomore season, Bradley Eaton has played a significant role in two of the three Eagles state championship runs. A former state wrestling champion, Eaton has been a sure tackler for the Eagles' defense with more than 100 in both his sophomore and junior year respectively. But this season, in his senior year, Eaton has added more to his plate. On top of his duties at safety, Eaton, with no prior experience, has been starting at running back for the Eagles since the last few weeks of the regular season. “I think the coolest thing about St. Ed’s is we got so many guys who can make plays everywhere,” Eaton said. “Sometimes your number gets called, you’re not expecting it, and you got to step into a role, but we got the guys to do it. I think that’s what’s special about special about St. Ed’s.” Eaton stepped into the role of running back out of necessity. Brandon White opened the season as the Eagles' starter after earning the job last year, but he’s been out with an injury since Week 3. Tyrese Buchanan picked up a lot of the slack in the weeks that followed before Eaton and Zack Hackleman found themselves taking the lion’s share of the carries. Well, Hackleman went down with an injury too, and Eaton, as well as starting linebacker turned power back Nate Gregory, have stepped up in a major way in response. “That’s senior leadership,” Eagles head coach Tom Lombardo said. “It’s their time. And you know, three year starters like that, Eaton, Gregory, and the others, Thomas Csanyi, they’re not going to go down.” They certainly didn’t go down in Friday’s Division I, Region 1 final. The Eagles kept their four-peat hopes alive with a 13-7 win against Mentor in that one, and Eaton had himself a day. He finished the night with 19 carries for 181 yards and TDs of 80 and 68 yards apiece, while playing nearly every offensive and defensive snap of the game. “The line did great blocking in front of me, and once you get to the second level, it’s kind of gets into my hand,” Eaton said. “Gotta make a couple guys miss, and then just turn on the jets and bring it home for the team.” Eaton went into the regional final with 80 carries for 427 yards and seven TDs, including a 157-yard three total TD day against St. Ignatius. He’s also got 124 yards and six receiving TDs on 13 receptions this season and that’s just offense. Prior to the regional final Eaton had 74 total tackles (43 solo), nine pass breakups, two picks, a blocked punt, which was recovered for a TD , and the Eagles' lone kick return TD of the season. After losing three All-Ohioan on their offensive line it says a lot about the Eagles that they have made it back to this point of the year. St. Edward went 5-5 in the regular season, but 4-0 this postseason is the only thing they care about. “Coming into the playoffs, I felt like our team had a lot left to prove. I mean, we were 5-5, but we played one of the toughest schedules in the country, in my opinion, and I just felt like we have a lot left to prove,” Eaton said. “I still think we got a lot left to prove, but it’s starting to show on the field.” With just one game separating the Eagles from a shot at the four-peat they have shown they’ll do what ever it takes. RECOMMENDED • cleveland .com Ohio Mr. Football: Who should be on 2024 watch list? Nov. 19, 2024, 1:29 p.m. Mentor vs. St. Edward football: Late stop sends Eagles to fourth consecutive state semifinal Nov. 22, 2024, 10:40 p.m. “We’re just finding a way. It’s a resilient team. That’s what we said all year, just keep swinging. Yeah, the record’s not as good, but the competition we played prepares us for these type of games,” St. Edward head coach Tom Lombardo said. “We’re 4-0 and there’s 28 teams left in the state and that’s all that matters.”
Revolutionary Single-Layer Film Eliminates Helmet Changes, Enhancing Driver Safety and Performance LAS VEGAS , Dec. 11, 2024 /PRNewswire/ -- Racing Optics®, the global leader in high-performance tearoff visor film technology, proudly unveils its latest innovation: the Twilight Tearoff . This groundbreaking single-layer tearoff is engineered to elevate driver visibility during late-afternoon and early-evening races, providing superior glare reduction and contrast enhancement. The Twilight Tearoff redefines race-day performance by allowing drivers to maintain focus and adapt seamlessly to changing light conditions, eliminating the need for disruptive helmet changes. This innovation represents a significant leap forward in racing vision technology, delivering immediate and measurable benefits to professional drivers and teams alike. "The Twilight Tearoff solves one of racing's most persistent challenges—ensuring optimal visibility as lighting transitions rapidly during twilight races," said Chris Colton , Chief Applications Engineer at Racing Optics . "Our dedication to driver safety and performance drives every innovation, and the Twilight Tearoff is no exception." Transforming Racing at Twilight Racing teams are already embracing the Twilight Tearoff as a game-changing solution for twilight and low-light racing conditions. One racing team manager shared their experience: "In a recent twilight race, the Twilight Tearoff gave our drivers unmatched visual clarity. Transitioning from glaring sunlight to artificial lighting without pausing to change helmets was a decisive advantage that kept us competitive." By streamlining the driver experience, the Twilight Tearoff enhances safety and helps maintain uninterrupted race momentum—a critical edge in the high-stakes world of motorsports. Exclusive Debut at PRI Show 2024 The Twilight Tearoff will make its debut at the Performance Racing Industry (PRI) Show , held December 12–14, 2024, in Indianapolis, Indiana . This highly anticipated event marks Racing Optics' 25th anniversary , celebrating a legacy of trailblazing innovations in motorsports safety and performance. Availability The Twilight Tearoff is now available for purchase at RacingOptics.com and through authorized dealers. Teams and drivers looking to gain a competitive edge are encouraged to explore this latest advancement. About Racing Optics For 25 years, Racing Optics has led the field in racing vision technology, delivering innovative solutions that enhance safety and performance. With a commitment to collaboration and innovation, the company continues to push the boundaries of motorsports protective equipment. For additional information, please visit RacingOptics.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/racing-optics-introduces-game-changing-twilight-tearoff-to-enhance-visibility-in-low-light-racing-conditions-302329546.html SOURCE Racing Optics, Inc.AP Sports SummaryBrief at 6:28 p.m. ESTCanadian Western Bank delays earnings release without saying why
Zinke urges US Postal Service to keep Missoula processing centerSAN FRANCISCO--(BUSINESS WIRE)--Nov 21, 2024-- Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch®, announced financial results for its second quarter of fiscal 2025 ended October 31, 2024. Second Quarter Fiscal 2025 Financial Highlights “Elastic delivered a strong second quarter supported by solid sales execution, exceeding our guidance across all revenue and profitability metrics,” said Ash Kulkarni, Chief Executive Officer, Elastic. “In Q2 we saw strong customer commitments with key wins across all our solution areas, with continued momentum in GenAI and platform consolidation. Our clear product differentiation, and our relentless pace of innovation is helping us become a natural choice for customers building GenAI applications.” Second Quarter Fiscal 2025 Key Metrics and Recent Business Highlights Key Customer Metrics Product Innovations and Updates Other Business Highlights Financial Outlook The Company is providing the following guidance: For the third quarter of fiscal 2025 (ending January 31, 2025): For fiscal 2025 (ending April 30, 2025): The guidance assumes, among others, the following exchange rates: 1 Euro = 1.060 US Dollars; and 1 Great British Pound = 1.267 US Dollars. See the section titled “Forward-Looking Statements” below for information on the factors that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. We present historical and forward-looking non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section entitled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of these non-GAAP measures. A reconciliation of forward-looking non-GAAP measures to the corresponding GAAP measures for operating margin and net loss per share is not available without unreasonable effort due to the uncertainty regarding, and the potential variability of, many of the costs and expenses that may be incurred in the future. These items necessary to reconcile such non-GAAP measures could be material and have a significant impact on the Company’s results computed in accordance with GAAP. Chief Financial Officer Transition Elastic also announced today that Janesh Moorjani, the Company’s Chief Financial Officer and Chief Operating Officer, will be leaving Elastic to pursue another opportunity and his last day with Elastic will be December 13, 2024. Eric Prengel, Elastic’s Group Vice President of Finance, has been appointed as interim Chief Financial Officer effective December 14, 2024. Prengel has been with Elastic for the past two years with broad responsibility for various FP&A and business partnership functions. Prior to joining Elastic, Prengel spent nearly 10 years at J.P. Morgan in various investment banking leadership roles. “I’d like to thank Janesh for all his contributions to Elastic over the past seven years. He has been a trusted colleague and a friend, and we wish him all the best as he pursues a new opportunity. Having worked closely with Eric during his time here, I am excited to have him step into the interim CFO role and I am confident in his disciplined leadership and ability to excel in this role,” said Kulkarni. Conference Call and Webcast Elastic’s executive management team will host a conference call today at 2:00 p.m. PT/5:00 p.m. ET to discuss the Company’s financial results and business outlook. A live audio webcast of the conference call will be available through Elastic’s Investor Relations website at ir.elastic.co. A presentation containing financial and operating information will be available at the same website. The replay of the webcast will also be available on the investor relations website. About Elastic Elastic (NYSE: ESTC), the Search AI Company, enables everyone to find the answers they need in real-time using all their data, at scale. Elastic’s solutions for search, observability and security are built on the Elastic Search AI Platform, the development platform used by thousands of companies, including more than 50% of the Fortune 500. Learn more at elastic.co. Elastic and associated marks are trademarks or registered trademarks of Elastic N.V. and its subsidiaries. All other company and product names may be trademarks of their respective owners. Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties, which include, but are not limited to, statements regarding our expected financial results for the fiscal quarter ending January 31, 2025 and the fiscal year ending April 30, 2025, the expected performance or benefits of our offerings, our product strategy and innovation, changes in leadership, expected market opportunities, and our ability to execute on those market opportunities. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements due to uncertainties, risks, and changes in circumstances, including but not limited to those related to: our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit or gross margin, operating expenses (which include changes in sales and marketing, research and development and general and administrative expenses), and our ability to achieve and maintain future profitability; our ability to continue to deliver and improve our offerings and develop new offerings (including innovations around AI use cases); customer acceptance and purchase of our new and existing offerings; the expansion and adoption of our Elastic Cloud offerings; our ability to realize value from investments in the business; our ability to maintain and expand our user and customer base; the impact of the evolving macroeconomic and geopolitical environments on our business, operations, hiring and financial results, and on businesses and spending priorities of our customers and partners; the impact of our pricing model strategies on our business; the impact of our licensing model on the use and adoption of our software; the impact of foreign currency exchange rate fluctuations and the uncertain inflation and interest rate environment on our results; our international expansion strategy; our operating results and cash flows; the sufficiency of our capital resources; our ability to successfully execute our go-to-market strategy, our forecasts regarding our business; and general market, political, economic and business conditions. Any additional or unforeseen effect from the evolving macroeconomic and geopolitical environments may exacerbate these risks. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those expressed or implied in our forward-looking statements are included in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended April 30, 2024 and subsequent reports filed with the SEC. SEC filings are available on the Investor Relations section of Elastic’s website at ir.elastic.co and the SEC’s website at www.sec.gov . Elastic assumes no obligation to, and does not currently intend to, update any such forward-looking statements, except as required by law. Statement Regarding Use of Non-GAAP Financial Measures In addition to our results determined in accordance with U.S. GAAP, we believe the non-GAAP measures listed below are useful in evaluating our operating performance. We use these non-GAAP financial measures to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with U.S. GAAP. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. Investors are encouraged to review the differences between GAAP financial measures and the corresponding non-GAAP financial measures, and not to rely on any single financial measure to evaluate our business. Reconciliations of historical GAAP financial measures to their respective historical non-GAAP financial measures are included below. In relation to constant currency non-GAAP financial measures, the only reconciling item between GAAP financial measures and non-GAAP financial measures is the effect of foreign currency rate fluctuations. Further details on how we calculate such effects can be found in the definition of “Constant Currency” below. Non-GAAP Gross Profit and Non-GAAP Gross Margin We define non-GAAP gross profit and non-GAAP gross margin as GAAP gross profit and GAAP gross margin, respectively, excluding stock-based compensation expense and related employer taxes and amortization of acquired intangible assets. We believe non-GAAP gross profit and non-GAAP gross margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations, as these metrics generally eliminate the effects of certain variables from period to period for reasons unrelated to overall operating performance. Non-GAAP Operating Income and Non-GAAP Operating Margin We define non-GAAP operating income and non-GAAP operating margin as GAAP operating loss and GAAP operating margin, respectively, excluding stock-based compensation expense and related employer taxes, amortization of acquired intangible assets, acquisition-related expenses, and restructuring and other related charges. We believe non-GAAP operating income and non-GAAP operating margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations, as these metrics generally eliminate the effects of certain variables from period to period for reasons unrelated to overall operating performance. Non-GAAP Net Income and Non-GAAP Earnings Per Share We define non-GAAP net income as GAAP loss, excluding stock-based compensation expense and related employer taxes, amortization of acquired intangible assets, acquisition-related expenses, restructuring and other related charges, and the related income tax effect of these adjustments as well as other significant tax adjustments. We define non-GAAP earnings per share, basic, as non-GAAP net income divided by weighted average shares outstanding and non-GAAP earnings per share, diluted, as non-GAAP net income divided by weighted average diluted shares outstanding, which includes the potentially dilutive effect of the company’s employee equity incentive plan awards. We believe non-GAAP earnings per share provides our management and investors consistency and comparability with our past financial performance and facilitates period-to-period comparisons of operations, as this metric generally eliminates the effects of certain variables from period to period for reasons unrelated to overall operating performance. Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin Adjusted free cash flow is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities adjusted for cash paid for interest less cash used for investing activities for purchases of property and equipment. Adjusted free cash flow margin is calculated as adjusted free cash flow divided by total revenue. Adjusted free cash flow does not represent residual cash flow available for discretionary expenditures since, among other things, we have mandatory debt service requirements. Constant Currency We compare the percent change in certain results from one period to another period using constant currency information to provide a framework for assessing how our business performed excluding the effect of foreign currency rate fluctuations. In presenting this information, current and comparative prior period results are converted into United States dollars at the exchange rates in effect on the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Contact Information Anthony Luscri Elastic Investor Relations ir@elastic.co Madge Miller Elastic Corporate Communications PR-Team@elastic.co View source version on businesswire.com : https://www.businesswire.com/news/home/20241120426893/en/ CONTACT: Anthony Luscri Elastic Investor Relations ir@elastic.coMadge Miller Elastic Corporate Communications PR-Team@elastic.co KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: APPS/APPLICATIONS TECHNOLOGY SECURITY SOFTWARE NETWORKS INTERNET IOT (INTERNET OF THINGS) DATA MANAGEMENT ARTIFICIAL INTELLIGENCE SOURCE: Elastic N.V. Copyright Business Wire 2024. PUB: 11/21/2024 04:05 PM/DISC: 11/21/2024 04:06 PM http://www.businesswire.com/news/home/20241120426893/enA federal judge on Tuesday night rejected the auction sale of Alex Jones’ Infowars to The Onion satirical news outlet, criticizing the bidding process as flawed and the amount of money that families of the 2012 Sandy Hook Elementary shooting stood to receive. The Onion had been named the winning bidder on Nov. 14 over a company affiliated with Jones, whose conspiracy theory platform was put up for sale as part of his bankruptcy case stemming from the nearly $1.5 billion that courts have ordered him to pay over falsely calling one of the deadliest school shootings in U.S. history a hoax. The decision by U.S. Bankruptcy Judge Christopher Lopez of Houston to not approve the sale means Jones can stay at his Infowars headquarters in Austin, Texas. The Onion had planned to kick Jones out and relaunch Infowars in January as a parody. “We are deeply disappointed in today’s decision, but The Onion will continue to seek a resolution that helps the Sandy Hook families receive a positive outcome for the horror they endured,” Ben Collins, CEO of The Onion’s parent company, Global Tetrahedron, posted on social media late Tuesday. Lopez cited problems — but no wrongdoing — with the auction process. He said he did not want another auction and left it up to the trustee who oversaw the auction to determine the next steps. The Onion offered $1.75 million in cash and other incentives for Infowars’ assets in the auction. First United American Companies, which runs a website in Jones’ name that sells nutritional supplements, bid $3.5 million. The bids were a fraction of the money that Jones has been ordered to pay in defamation lawsuits in Connecticut and Texas filed by relatives of victims of the Sandy Hook shooting. Lopez said the auction outcome “left a lot of money on the table” for families. “You got to scratch and claw and get everything you can for them,” Lopez said. Christopher Mattei, a lawyer for the Sandy Hook families who sued Jones in Connecticut, said they were disappointed in the judge’s ruling. “These families, who have already persevered through countless delays and roadblocks, remain resilient and determined as ever to hold Alex Jones and his corrupt businesses accountable for the harm he has caused,” Mattei said in a statement. “This decision doesn’t change the fact that, soon, Alex Jones will begin to pay his debt to these families and he will continue doing so for as long as it takes.” Jones, who did not attend the proceedings, quickly went back on the air to applaud the judge’s decision. “We can celebrate the judge doing the right thing with the most ridiculous, fraudulent auction known in human history,” he said. Although The Onion’s cash offer was lower than that of First United American, it also included a pledge by many of the Sandy Hook families to forgo $750,000 of the auction proceeds due to them and give it to other creditors, providing the other creditors more money than they would receive under First United American’s bid. Alex Jones’ bankruptcy case The sale of Infowars is part of Jones’ personal bankruptcy case, which he filed in late 2022 after he was ordered to pay nearly $1.5 billion in defamation lawsuits in Connecticut and Texas filed by relatives of victims of the Sandy Hook shooting. Jones repeatedly called the shooting that killed 20 children and six educators a hoax staged by actors and aimed at increasing gun control. Parents and children of many of the victims testified in court that they were traumatized by Jones’ conspiracies and threats from his followers. Jones has since acknowledged that the Connecticut school shooting happened. Most of the proceeds from the sale of Infowars, as well as many of Jones’ personal assets, will go to the Sandy Hook families. Some proceeds will go to Jones’ other creditors. The auction overseer defends his decision Trustee Christopher Murray had defended The Onion’s bid during a lengthy two-day hearing in Houston, testifying that he did not favor either bidder over the other and was not biased. He also revealed that First United American submitted a revised bid in recent days, but he said he could not accept it because the Sandy Hook families in the Connecticut lawsuit objected. The Onion valued its bid, with the Sandy Hook families’ offer, at $7 million because that amount was equal to a purchase price that would provide the same amount of money to the other creditors. In a court filing last month, Murray’s lawyers called First United American’s request to disqualify The Onion’s bid a “disappointed bidder’s improper attempt to influence an otherwise fair and open election process.” Jones’ attorney, Ben Broocks, noted that the Sandy Hook lawsuit judgments could be overturned in pending appeals and got Murray to acknowledge that the Sandy Hook families’ offer in The Onion bid could fall apart if that happens. That’s because the percentage of the auction proceeds they would be entitled to could drop sharply and they wouldn’t get the $750,000 from the sale to give to other creditors. Auctioneer Jeff Tanenbaum on Monday defended both the value of the bid and its selection. Putting Infowars up for auction Up for sale were all the equipment and other assets in the Infowars studio in Austin, as well as the rights to its social media accounts, websites, video archive and product trademarks. Jones uses the studio to broadcast his far-right, conspiracy theory-filled shows on the Infowars website, his account on the social platform X and radio stations. Many of Jones’ personal assets also are being sold. Jones has set up another studio, websites and social media accounts in case The Onion wins approval to buy Infowars and kicks him out. Jones has said he could continue using the Infowars platforms if the auction winner is friendly to him. Jones is appealing the money has been ordered to pay in judgments citing free speech rights.
Be Ice Aware as Season StartsVernon drug trafficker linked to heroin shipment hidden in lamps out on day parole (Vernon)
The royals are bringing the holiday spirit. Kate Middleton stepped out to host the fourth annual “Together at Christmas” service on Friday alongside her husband, Prince William, and their three children: sons Prince George, 11 , and Prince Louis, 6, and daughter Princess Charlotte, 9. The couple’s youngest child was photographed carrying a red piece of paper with a handwritten note about what he is thankful for. The family stopped at the famous “Kindness Tree” outside Westminster Abbey in London to hang their messages on the branches in dedication to someone who has supported them in their lives. In honor of the service’s theme of love and empathy, Prince Louis’ note read: “Thank you for Granny and Grandpa because they have played games with me.” Middleton also penned a letter to the 1,600 Abbey carol goers , which includes members of the royal family, sharing with them, “This Carol Service is a heartfelt celebration of every one of you, and a reminder that at Christmas, and throughout the year, we must all shine for each other. Because in times of joy and sadness, we are all each other’s light.” The Prince and Princess of Wales shared footage from their time at the service on social media, capturing the X post , “A wonderful time spent together with friends, family and those who make a real difference to the people around them.” “This year’s Together at Christmas Carol Service celebrated individuals who have inspired, counselled, comforted, and above all else shown that love is the greatest gift we can receive. Thank you for all you do!” Middleton spoke to several volunteers at the event and spent time with her family around the Kindness Tree. The Princess of Wales is getting back into the routine of her normal duties after having spent much of this year behind closed doors following her abdominal surgery in January, followed by her cancer diagnosis and subsequent treatment . In September, Middleton announced that she is now “cancer-free.” “I cannot tell you what a relief it is to have finally completed my chemotherapy treatment,” she announced in a statement on X. “Doing what I can to stay cancer free is now my focus. Although I have finished chemotherapy, my path to healing and full recovery is long and I must continue to take each day as it comes.” The mother of three said she was now “looking forward to being back at work and undertaking a few more public engagements in the coming months when I can.” Middleton thanked those who supported her during her monthslong battle. “The last nine months have been incredibly tough for us as a family. Life as you know it can change in an instant and we have had to find a way to navigate the stormy waters and road unknown,” she said. “The cancer journey is complex, scary and unpredictable for everyone, especially those closest to you. With humility, it also brings you face to face with your own vulnerabilities in a way you have never considered before, and with that, a new perspective on everything.” “Despite all that has gone before I enter this new phase of recovery with a renewed sense of hope and appreciation of life,” Middleton added.The NFL reinstated Jabrill Peppers from the commissioner’s exempt list on Monday afternoon. Peppers had been on the list since October 9, which prevented him from suiting up with the Patriots or practicing with the team. The safety hasn’t been cleared of the domestic violence charges he’s facing — his trial date is set for January 22 — but the Boston Herald’s Doug Kyed was able to offer a window into the league’s thinking. “Per a league source, the reason Patriots S Jabrill Peppers was removed from the commissioner’s exempt list was because the baseline suspension for a violation of the personal conduct policy involving the actions for which he’s accused is six games,” Kyed posted on X. “He’s already missed seven games. If Peppers had remained on the exempt list through his next court date, Jan. 22, he would have missed a total of 12 games. The NFL may still impose discipline at the end of the process if evidence is found that demonstrates Peppers violated the personal conduct policy. The NFL will look to conclude its investigation once there has been a disposition.” So the league could still suspend Peppers after the process is through, but for now, things are in the hands of the Patriots. Peppers faces charges of assault and battery with a dangerous weapon, strangulation or suffocation, possession of Class B substance (cocaine) and assault and battery on a household or family member stemming from a domestic dispute in October. In an interview last month, Patriots owner Robert Kraft said Peppers would “be gone” if the allegations against him were true. “When you read the (police report) initially, it turns your stomach,” Kraft said in October. “Once he goes on the commissioner exempt list, they do their independent checking. We’re doing ours. If what was reported is true, he’s gone. There have been some suggestions that this was a set-up and a lot of what was reported isn’t accurate ... We want to get the facts.” The Patriots issued a statement via a team spokesperson following Peppers’ reinstatement on Monday afternoon: “The league has removed Jabrill Peppers from the commissioner’s exempt list. After missing the past seven games, he will now return to the active roster. We understand that the league’s investigation into the matter will continue, as will the legal process. We will await the outcome of both before making any further comment.” Shortly after being reinstated, Peppers took to social media and posted a smiling photo with the caption, “Smile through it all, it’s gon be alright!” More Patriots ContentNone
The rapper took to social media to answer fan questions, where she confirmed that a new tour will be launched alongside the "next official album". In a follow-up post, she clarified: "Well let me clarify... you'll be notified of a tour in 2025. With the album. Not that the tour will start in 2025." The post comes less than a month before the rapper drops the final deluxe version of her 2023 album Pink Friday 2. Pink Friday 2 - The Hiatus is set for release on 13 December - just over a year after the release of the original album.The AP Top 25 college football poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here . PISCATAWAY, N.J. (AP) — Trailing by one at the 40-yard line with 14 seconds to play and no timeouts, Illinois coach Bret Bielema sent in a play known as “church” to Luke Altmyer. The quarterback was to hit a receiver who was to go to the ground immediately. The offense would rush to the line of scrimmage and Altmyer would spike the ball to set up a potential winning field goal. Pat Bryant caught the pass at the 22 and then called his own split-second audible. Seeing a path to the end zone, the star receiver ran across the field on the way to the winning touchdown with 4 seconds left, sending the Illini to a wild 38-31 victory over Rutgers on Saturday. “Coach called a perfect play,” Bryant said. “A play we run all the time in our two-minute drill. I caught the ball and saw the sideline and saw nobody was over there. I had one guy to beat. I gave him a little move. I heard everybody jump and say ’Get out, get out,’ but I put trust in myself and scored a touchdown.” Bryant’s ninth TD reception of the season capped a roller-coaster finish to a Big Ten game that featured three lead changes in the final 3:07. RELATED COVERAGE Auburn wins 43-41, four-OT thriller over playoff hopeful No. 15 Texas A&M Murphy, Pancol combine for three TD plays as Duke beats Virginia Tech 31-28 Arnold, Robinson run for more than 100 yards as Oklahoma stuns No. 7 Alabama 24-3 Illinois (8-3, 5-3) was down 31-30 when it sent long kicker Ethan Moczulski out for a desperation 58-yard field goal. Rutgers coach Greg Schiano called for a timeout right before Moczulski’s attempt was wide left and about 15 yards short. After the missed field goal was waved off by the timeout, Bielema sent his offense back on the field. “Pat is so aware of his surroundings,” Bielema said after Bryant finished with seven catches for a career-high 197 yards. “He saw that corner and took off.” Schiano didn’t second-guess his timeout but said he should have called it well before Moczulski kicked. “They made one more play than we did,” Schiano said. Rutgers (6-5, 3-5) gave up a safety on the final kickoff return, throwing a ball out of bounds in the end zone as players passed it around hoping for a miracle touchdown. Altmyer was 12-of-26 passing for 249 yards and two touchdowns. He put Illinois in front with a 30-yard TD run with 3:07 to go. He passed to Josh McCray on the 2-point conversion, making it 30-24. Rutgers responded with a 10-play, 65-yard drive. Athan Kaliakmanis had a 15-yard run on fourth down. He passed to running back Kyle Monangai for a 13-yard TD with 1:08 remaining. Illinois then drove 75 yards in eight plays for the win. “That’s big-time football,” Monangai said. “They made a great play at the end of the game. I think we we played our hearts out to the end, to the very end, even that last play. Illinois did the same. They’re a great team. The chips fell their way today.” Kaliakmanis was 18 for 36 for 174 yards and two touchdowns. He also had 13 carries for 84 yards and two TDs. Monangai had a career-high 28 carries for 122 yards. Kaliakmanis found Ian Strong for a 2-yard touchdown in the final seconds of the first half, and he scored on a 1-yard run to lift Rutgers to a 24-15 lead early in the fourth quarter. Illinois responded with Aidan Laughery’s 8-yard TD run, setting the stage for the dramatic finish. The start of the second half was delayed because of a scrum between the teams. There were no punches thrown and the officials called penalties on both schools. Monangai’s day Monangai become the third player in Rutgers history to rush for 3,000 yards when he picked up 4 on a third-and-1 carry early in the second quarter. The defending conference rushing champion joins Ray Rice and Terrell Willis in hitting the mark. The takeaway Illinois: The great finish keeps the Illini in line for its first nine-win season since 2007 and a prestigious bowl game this season. Rutgers: The Scarlet Knights were seconds away from their first in-conference three-game win streak since joining the Big Ten in 2014. Up next Illinois: At Northwestern next Saturday. Rutgers: At Michigan State next Saturday. ___ AP college football: https://apnews.com/hub/college-football and https://apnews.com/hub/ap-top-25-college-football-poll
Axios CEO Flips Out Over Elon Musk’s ‘Bulls**t’ Claim That X Users Are Replacing The Media
NoneBOULDER, Colo. — A 72-year-old lifelong Colorado fan with end-stage kidney failure waited to the side of the field in his wheelchair for Travis Hunter and the rest of the Buffaloes. One by one, players strolled over and signed a football for Riley Rhoades, his face lighting up with each signature. Standing close by and taking in the scene was Jeremy Bloom. He's become a wish facilitator for older adults. Bloom, the former Colorado wide receiver and Olympic freestyle skier, started the Wish of a Lifetime foundation in 2008, which has made thousands of aspirations turn into reality for older adults. The list of granted wishes range from taking veterans back to the beaches of Normandy to helping late-in-life authors publish a book. He's staged concerts for musicians, assisted some in daredevil feats such as jumping out of an airplane and even lined up a meeting between an Olympic medalist and former President Barack Obama. For Rhoades, his wish was simply to return to Folsom Field again, the place where he used to have season tickets but hasn't attended a game since 2004. "Everybody has somebody in their life —a grandparent, friend, neighbor — at that age where you wish you had more resources to help," said Bloom, whose college career was cut short two decades ago when the NCAA denied his reinstatement to play football and still ski professionally after receiving endorsement money to fuel his Olympic dreams. "Nothing can compare to seeing someone else's eyes light up because you helped make their dream come true." The foundation is a tribute to his grandparents. But the concept began to take root when he was a teenager. He was in Japan for a World Cup freestyle skiing competition when a woman tried to hop on a crowded bus. There was no room, but everyone in front rose from their seats to make space. That stuck with him, along with seeing these acts of kindness for older adults all over Europe and Asia as he traveled. An idea formed — bring that same level of appreciation to the United States, with a wish-granting element. Bloom's organization has been a charitable affiliate of AARP since 2020. It was the yearning of Rhoades that brought the two of them to Folsom Field last weekend. Rhoades, who had season tickets at Colorado for 27 years, wanted to see the Buffaloes in person after watching the team's resurgence on television. A few years ago, Rhoades, who was born with spina bifida, was diagnosed with end-stage renal failure. Being among the 54,646 fans Saturday stirred up plenty of emotions for Rhoades, as he watched the 16th-ranked Buffaloes (8-2, 6-1 Big 12, No. 16 CFP) beat Utah. Colorado remains in the race for not only a conference title but a spot in the College Football Playoff. "It's just great to be back here again," Rhoades said as he pointed out the section where he used to watch games. "It's just ... so cool." For Bloom, the success that coach Deion Sanders has brought to the program means more reunions with teammates as they pass through town. "I've been through many years where nobody comes to visit," Bloom said. "It's fun that Boulder has become the epicenter of college football." Leading the way for Colorado this season have been quarterback Shedeur Sanders and two-way star Hunter, who's the Heisman Trophy frontrunner. But what particularly pleases Bloom is that Sanders, Hunter and the rest of college football players are able to finally profit through name, image and likeness. In his day, Bloom got caught in the NCAA crosshairs for wanting to play both sports and to have sponsors in one (skiing) so he could fund his Olympic aspirations. How time have changed. "I'm just really grateful that this generation of athletes gets to monetize their skills and ability," said Bloom, who finished sixth in moguls at the 2006 Winter Games in Italy. "It's the right thing." He's thrown his passion into fulfilling wishes such as learning ballet, riding in a Formula 1 pace car or taking a flight in a fighter jet. He's also helped reconnect families and friends, including a reunion for a trio of centenarian sisters who hadn't seen each other in more than a decade. This granted wish has stuck with Bloom: A person in Alabama wasn't able to travel after being diagnosed with end-of-life emphysema. So he asked for postcards to be sent, just to learn what made someone's town so special. He received 2,000 postcards from 26 different countries. "There's no end to the things that they've done for us in the world," Bloom said of older adults. "We're one of the organizations that reminds them that their dreams still do matter and that we still appreciate them and we cherish them." Get local news delivered to your inbox!