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Docusign Announces Third Quarter Fiscal 2025 Financial ResultsCDS Harps On Critical Role Of DECAN In Promoting National SecurityThe Los Angeles Galaxy will aim to complete one of the most remarkable transformations in Major League Soccer history on Saturday when they host the New York Red Bulls chasing a record-extending sixth MLS Cup crown. A year ago, the California franchise had hit rock bottom, plummeting to their worst ever regular season record to finish one place off the bottom of the Western Conference. The team that had once been a home to the likes of David Beckham, Steven Gerrard and Zlatan Ibrahimovic were engulfed in crisis, with fans boycotting fixtures after nearly a decade of failure on the field. Moreover, the Galaxy's status as one of MLS's glamour clubs had been diminished by the arrival of Lionel Messi at Inter Miami, as well as the emergence of city rivals Los Angeles FC, winners of the MLS Cup in 2022. The febrile atmosphere at the Galaxy prompted team ownership to shake up their front office, with Will Kuntz appointed general manager to replace long-time predecessor Chris Klein, who was fired in May 2023. The turnaround since those changes has been dramatic. After winning just eight fixtures in the 2023 season, the Galaxy under head coach Greg Vanney won a record-equalling 19 games this season to finish joint top of the table, second only to leaders LAFC on goal difference. The Galaxy kept up their winning ways in the postseason, swatting aside Colorado 9-1 on aggregate to wrap up their first round series, before thrashing Minnesota United 6-2 and then squeezing past Seattle 1-0 last weekend. Those results have left the club on the threshold of a first MLS Cup title since 2014 and a record sixth championship overall. Victory in Saturday's showpiece in Carson would be especially sweet for Vanney, who appeared in three MLS Cup finals with the Galaxy as a player in 1996, 1999 and 2001 -- and lost all three. Reflecting on his team's journey to this year's final, Vanney said this week his team had thrived under the pressure of being expected to challenge for silverware. - Creating new legacy - "The expectation is to be in games like this, to win trophies and win championships," Vanney said. "This group has come out and attacked it from day one and hasn't been afraid of it or in awe of it -- and that's one of the beauties of this group. "I'm excited for this group and this opportunity and now the objective is to win it and put the stamp on it, rewriting a new group of players and new legacy for this organisation." Vanney's task has become more complicated by an injury to star midfielder Riqui Puig, who suffered torn knee ligaments in last week's Western Conference final win over Seattle and will miss Saturday's game. "He's the ultimate competitor," Vanney said. "He wants to win, compete, and take responsibility on the field. He drives the team in so many ways. "We're going to have to adapt, and we're going to have to adapt in a collective way." The Galaxy meanwhile will be wary of a New York Red Bulls line-up that have ripped up the form book en route to the final. After finishing seventh in the Eastern Conference -- 27 points behind leaders Inter Miami -- the Red Bulls stunned reigning champions Columbus in the first round of the playoffs before wins on the road over rivals New York City FC and Orlando to book their place in their first MLS Cup since 2008. New York's Scotland international midfielder Lewis Morgan says the team is unfazed by Saturday's assignment in Los Angeles. "For me, it doesn't really matter where it is: it's playoff football," Morgan said this week. "It's not the regular season. These games are more cagey. You go 1-0 up, we defend a little bit deeper and we're relying on guys at the back. There have been massive performances." rcw/bbREDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 9, 2024-- Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced financial results for its fiscal third quarter ended October 31, 2024. Third Quarter Fiscal 2025 Financial Results: Revenue: Subscription revenue was $105.3 million, an increase of 7% year-over-year. Total revenue was $116.9 million, an increase of 6% year-over-year. GAAP Loss from Operations: GAAP loss from operations was $11.7 million, compared to a loss from operations of $8.8 million in the third quarter of fiscal 2024. Non-GAAP Income from Operations: Non-GAAP income from operations was $25.1 million, compared to non-GAAP income from operations of $16.0 million in the third quarter of fiscal 2024. GAAP Net Loss: GAAP net loss was $32.2 million, or 28% of revenue, compared to a net loss of $5.5 million, or 5% of revenue, in the third quarter of fiscal 2024. GAAP net loss per share was $0.21 based on 152.3 million weighted-average shares outstanding, compared to a net loss per share of $0.04 based on 141.5 million weighted-average shares outstanding in the third quarter of fiscal 2024. The GAAP net loss reflects increased costs associated with our proposed acquisition, including a debt redemption liability of $20.2 million as of October 31, 2024 associated with our obligation to repurchase a portion of our 2029 Notes pursuant to our proposed acquisition, and $9.8 million of legal, consulting, and other transaction related costs. Refer below for further information on the proposed acquisition. Non-GAAP Net Income: Non-GAAP net income was $24.8 million, compared to non-GAAP net income of $12.3 million in the third quarter of fiscal 2024. Non-GAAP net income per share was $0.16 based on 152.3 million weighted-average shares outstanding, compared to non-GAAP net income per share of $0.09 based on 141.5 million weighted-average shares outstanding in the third quarter of fiscal 2024. Cash Flow: Net cash provided by operating activities was $22.4 million, compared to net cash used in operating activities of $55.7 million in the third quarter of fiscal 2024. Adjusted Free Cash Flow: Adjusted free cash flow was $25.5 million compared to $12.7 million in the third quarter of fiscal 2024. Cash and Investments: Cash and cash equivalents and short-term investments were $558.5 million as of October 31, 2024. Descriptions of our non-GAAP financial measures are contained in the section titled "Explanation of Non-GAAP Financial Measures" below and reconciliations of GAAP and non-GAAP financial measures are contained in the tables below. Proposed Acquisition; Conference Call and Guidance On October 17, 2024, we announced that Zuora entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. (“GIC”). The transaction is valued at $1.7 billion, with Silver Lake and GIC to acquire all outstanding shares of Zuora common stock for $10.00 per share in cash. The acquisition is expected to close in the first calendar quarter of 2024, subject to customary closing conditions and approvals, including the receipt of the required regulatory approvals. Upon completion of the transaction, Zuora will become a privately held company. Given the proposed acquisition of Zuora, we will not be holding a conference call or live webcast to discuss Zuora's third quarter of fiscal 2025 financial results, we will not be providing any forward looking guidance, and we are withdrawing all previously provided goals, outlook, and guidance. Key Operational and Financial Metrics: Customers with annual contract value (ACV) equal to or greater than $250,000 were 451, compared to 453 as of October 31, 2023. Dollar-based retention rate (DBRR) was 103%, compared to 108% as of October 31, 2023. Annual recurring revenue (ARR) was $419.9 million compared to $396.0 million as of October 31, 2023, representing ARR growth of 6%. Explanation of Key Operational and Financial Metrics: Annual Contract Value (ACV) . We define ACV as the subscription revenue we would contractually expect to recognize from a customer over the next twelve months, assuming no increases or reductions in their subscriptions. We define the number of customers at the end of any particular period as the number of parties or organizations that have entered into a distinct subscription contract with us and for which the term has not ended. Each party with whom we have entered into a distinct subscription contract is considered a unique customer, and in some cases, there may be more than one customer within a single organization. Dollar-based Retention Rate (DBRR) . We calculate DBRR as of a period end by starting with the sum of the ACV from all customers as of twelve months prior to such period end, or prior period ACV. We then calculate the sum of the ACV from these same customers as of the current period end, or current period ACV. Current period ACV includes any upsells and also reflects contraction or attrition over the trailing twelve months but excludes revenue from new customers added in the current period. We then divide the current period ACV by the prior period ACV to arrive at our dollar-based retention rate. Annual Recurring Revenue (ARR). ARR represents the annualized recurring value at the time of initial booking or contract modification for all active subscription contracts at the end of a reporting period. ARR excludes the value of non-recurring revenue such as professional services revenue as well as contracts with new customers with a term of less than one year. ARR should be viewed independently of revenue and deferred revenue, and is not intended to be a substitute for, or combined with, any of these items. ARR growth is calculated by dividing the ARR as of a period end by the ARR for the corresponding period end of the prior fiscal year. Explanation of Non-GAAP Financial Measures: In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain non-GAAP financial measures including: non-GAAP cost of subscription revenue; non-GAAP subscription gross margin; non-GAAP cost of professional services revenue; non-GAAP professional services gross margin; non-GAAP gross profit; non-GAAP gross margin; non-GAAP income from operations; non-GAAP operating margin; non-GAAP net income; non-GAAP net income per share; and adjusted free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. We use non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our Board of Directors concerning our financial performance. We believe these non-GAAP measures provide investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our operating results. We also believe these non-GAAP measures are useful in evaluating our operating performance compared to that of other companies in our industry, as they generally eliminate the effects of certain items that may vary for different companies for reasons unrelated to overall operating performance. We exclude the following items from one or more of our non-GAAP financial measures: Stock-based compensation expense . We exclude stock-based compensation expense, which is a non-cash expense, because we believe that excluding this item provides meaningful supplemental information regarding operational performance. In particular, stock-based compensation expense is not comparable across companies given it is calculated using a variety of valuation methodologies and subjective assumptions. Amortization of acquired intangible assets . We exclude amortization of acquired intangible assets, which is a non-cash expense, because we do not believe it has a direct correlation to the operation of our business. Charitable contributions. We exclude expenses associated with charitable donations of our common stock. We believe that excluding these non-cash expenses allows investors to make more meaningful comparisons between our operating results and those of other companies. Shareholder matters . We exclude non-recurring charges and benefits, net of insurance recoveries, including litigation expenses, settlements and other legal, consulting and advisory fees, related to shareholder matters that are outside of the ordinary course of our business, including expenses related to a cooperation agreement. We believe these charges and benefits do not have a direct correlation to the operations of our business and may vary in size depending on the timing, results and resolution of such litigation, settlements, agreements or other shareholder matters. Asset impairment . We exclude non-cash charges for impairment of assets, including impairments related to internal-use software, office leases, and acquired intangible assets. Impairment charges can vary significantly in terms of amount and timing and we do not consider these charges indicative of our current or past operating performance. Moreover, we believe that excluding the effects of these charges allows investors to make more meaningful comparisons between our operating results and those of other companies. Change in fair value of debt derivative and warrant liabilities. We exclude fair value adjustments related to the debt derivative and warrant liabilities, which are non-cash gains or losses, as they can fluctuate significantly with changes in Zuora's stock price and market volatility, and do not reflect the underlying cash flows or operational results of the business. Acquisition-related expenses . We exclude acquisition-related expenses (including integration-related charges) that are not related to our ongoing operations. These expenses include gains or losses recognized on contingent consideration related to acquisitions, including costs associated with our proposed acquisition. We do not consider these transaction expenses as reflective of our core business or ongoing operating performance. Workforce reductions . We exclude charges related to workforce reduction plans, including severance, health care and related expenses. We believe these charges are not indicative of our continuing operations. Additionally, we disclose "adjusted free cash flow", which is a non-GAAP measure that includes adjustments to operating cash flows for cash impacts related to Shareholder matters and Acquisition-related expenses described above, and net purchases of property and equipment. We include the impact of net purchases of property and equipment in our adjusted free cash flow calculation because we consider these capital expenditures to be a necessary component of our ongoing operations. We believe this measure is meaningful to investors because management reviews cash flows generated from operations excluding such expenditures that are not related to our ongoing operations. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures. Forward-Looking Statements: This press release contains forward-looking statements that involve a number of risks and uncertainties. Words such as “believes,” “may,” “will,” “determine,” “estimates,” “potential,” “continues,” “anticipates,” “intends,” “expects,” “could,” “would,” “projects,” “plans,” “targets,” “strategy,” “likely,” and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this release include statements regarding the proposed acquisition of Zuora, including the expected timing of the closing of the acquisition, and expectations for Zuora following the completion of the acquisition. Forward-looking statements are based on management's expectations as of the date of this filing and are subject to a number of risks, uncertainties and assumptions, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our Form 10-Q filed with the Securities and Exchange Commission on August 29, 2024 as well as other documents that may be filed by us from time to time with the Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the possibility that the closing conditions to the proposed acquisition are not satisfied (or waived), including the risk that required approvals from Zuora’s stockholders for the proposed acquisition or required regulatory approvals to consummate the acquisition are not obtained in a timely manner (or at all); the outcome of the current complaint and any potential litigation relating to the proposed acquisition; uncertainties as to the timing of the consummation of the proposed acquisition; the ability of each party to consummate the proposed acquisition; our ability to attract new customers and retain and expand sales to existing customers; our ability to manage our future revenue and profitability plans effectively; adoption of monetization platform software and related solutions, as well as consumer adoption of products and services that are provided through such solutions; our ability to develop and release new products and services, or successful enhancements, new features and modifications; challenges related to growing our relationships with strategic partners; loss of key employees; our ability to compete in our markets; adverse impacts on our business and financial condition due to macroeconomic or market conditions; the impact of actions to improve operational efficiencies and operating costs; our history of net losses and ability to achieve or sustain profitability; market acceptance of our products; the success of our product development efforts; risks associated with currency exchange rate fluctuations; risks associated with our debt obligations; successful deployment of our solutions by customers after entering into a subscription agreement with us; the success of our sales and product initiatives; our security measures; our ability to adequately protect our intellectual property; interruptions or performance problems; litigation and other shareholder related costs; the anticipated benefits of acquisitions and ability to integrate operations and technology of any acquired company; geopolitical conflicts or destabilizing events; other business effects, including those related to industry, market, economic, political, regulatory and global health conditions and other risks and uncertainties. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Important Information and Where to Find It In connection with the proposed acquisition, Zuora has filed with the Securities and Exchange Commission (the “SEC”) a proxy statement in preliminary form on November 25, 2024, a definitive version of which will be mailed or otherwise provided to its stockholders. The Company and affiliates of the Company have jointly filed a transaction statement on Schedule 13E-3 (the Schedule 13E-3). Zuora may also file other documents with the SEC regarding the potential transaction. BEFORE MAKING ANY VOTING DECISION, ZUORA’S STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND THE SCHEDULE 13E-3 IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED WITH THE SEC AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the proxy statement, the Schedule 13E-3 and other documents that Zuora files with the SEC from the SEC’s website at www.sec.gov and Zuora’s website at investor.zuora.com . In addition, the proxy statement, the Schedule 13E-3 and other documents filed by Zuora with the SEC (when available) may be obtained from Zuora free of charge by directing a request to Zuora’s Investor Relations at investorrelations@zuora.com . Participants in the Solicitation Zuora and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from Zuora’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed to be participants in the solicitation of the stockholders of Zuora in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise will be set forth in the proxy statement and Schedule 13E-3 and other materials to be filed with the SEC. You may also find additional information about Zuora’s directors and executive officers in Zuora’s proxy statement for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on May 16, 2024 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected in Zuora’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You can obtain free copies of these documents from Zuora using the contact information above. About Zuora, Inc. Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of usage-based models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com . © 2024 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, Subscription Economy Index, Zephr, and Subscription Experience Platform are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release. SOURCE: ZUORA, INC. ZUORA, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands, except per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenue: Subscription $ 105,253 $ 98,048 $ 308,263 $ 283,232 Professional services 11,676 11,801 33,831 37,760 Total revenue 116,929 109,849 342,094 320,992 Cost of revenue: Subscription 1 23,954 20,378 67,207 62,304 Professional services 1 14,383 14,650 43,483 47,851 Total cost of revenue 38,337 35,028 110,690 110,155 Gross profit 78,592 74,821 231,404 210,837 Operating expenses: Research and development 1 26,833 27,504 76,853 79,428 Sales and marketing 1 36,597 40,245 108,579 124,488 General and administrative 1 26,880 15,893 71,351 54,160 Total operating expenses 90,310 83,642 256,783 258,076 Loss from operations (11,718 ) (8,821 ) (25,379 ) (47,239 ) Change in fair value of debt derivative and warrant liabilities (20,174 ) 6,997 (29,115 ) 2,241 Interest expense (7,045 ) (5,610 ) (20,781 ) (14,604 ) Interest and other income (expense), net 6,505 2,272 19,988 13,639 Loss before income taxes (32,432 ) (5,162 ) (55,287 ) (45,963 ) Income tax (benefit) provision (226 ) 340 (2,152 ) 1,396 Net loss (32,206 ) (5,502 ) (53,135 ) (47,359 ) Comprehensive loss: Foreign currency translation adjustment 462 (696 ) 386 (1,383 ) Unrealized gain (loss) on available-for-sale securities 248 (18 ) 63 494 Comprehensive loss $ (31,496 ) $ (6,216 ) $ (52,686 ) $ (48,248 ) Net loss per share, basic and diluted $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Weighted-average shares outstanding used in calculating net loss per share, basic and diluted 152,263 141,488 149,457 138,789 (1) Stock-based compensation expense was recorded in the following cost and expense categories: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of subscription revenue $ 2,331 $ 2,350 $ 6,291 $ 6,889 Cost of professional services revenue 2,598 2,747 7,359 8,997 Research and development 7,697 7,165 21,680 20,661 Sales and marketing 7,613 8,191 20,609 24,857 General and administrative 4,694 5,648 13,163 16,569 Total stock-based compensation expense $ 24,933 $ 26,101 $ 69,102 $ 77,973 ZUORA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 277,615 $ 256,065 Short-term investments 280,909 258,120 Accounts receivable, net 82,414 124,602 Deferred commissions, current portion 15,995 15,870 Prepaid expenses and other current assets 25,183 23,261 Total current assets 682,116 677,918 Property and equipment, net 27,403 25,961 Operating lease right-of-use assets 20,591 22,462 Purchased intangibles, net 23,146 10,082 Deferred commissions, net of current portion 24,941 27,250 Goodwill 73,903 56,657 Other assets 4,972 3,506 Total assets $ 857,072 $ 823,836 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 761 $ 3,161 Accrued expenses and other current liabilities 45,167 32,157 Accrued employee liabilities 29,860 37,722 Deferred revenue, current portion 177,436 199,615 Operating lease liabilities, current portion 7,030 6,760 Total current liabilities 260,254 279,415 Long-term debt 368,348 359,525 Deferred revenue, net of current portion 860 2,802 Operating lease liabilities, net of current portion 32,573 37,100 Deferred tax liabilities 4,066 3,725 Other long-term liabilities 6,781 7,582 Total liabilities 672,882 690,149 Stockholders’ equity: Class A common stock 15 14 Class B common stock 1 1 Additional paid-in capital 1,067,329 964,141 Accumulated other comprehensive loss (410 ) (859 ) Accumulated deficit (882,745 ) (829,610 ) Total stockholders’ equity 184,190 133,687 Total liabilities and stockholders’ equity $ 857,072 $ 823,836 ZUORA, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Nine Months Ended October 31, 2024 2023 Cash flows from operating activities: Net loss $ (53,135 ) $ (47,359 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation, amortization and accretion 14,715 13,684 Stock-based compensation 69,102 77,973 Provision for credit losses 2,117 457 Amortization of deferred commissions 13,946 14,415 Reduction in carrying amount of right-of-use assets 3,470 4,876 Change in fair value of debt derivative and warrant liabilities 29,115 (2,241 ) Other (2,418 ) 2,630 Changes in operating assets and liabilities: Accounts receivable 40,149 12,476 Prepaid expenses and other assets (2,657 ) 878 Deferred commissions (12,107 ) (12,013 ) Accounts payable (2,529 ) (634 ) Accrued expenses and other liabilities 6,843 (82,904 ) Accrued employee liabilities (7,986 ) 509 Deferred revenue (24,439 ) (7,461 ) Operating lease liabilities (7,476 ) (10,962 ) Net cash provided by (used in) operating activities 66,710 (35,676 ) Cash flows from investing activities: Purchases of property and equipment (9,252 ) (6,913 ) Purchases of short-term investments (240,093 ) (66,665 ) Maturities of short-term investments 222,279 175,128 Cash paid for acquisition, net of cash acquired (24,786 ) (4,524 ) Net cash (used in) provided by investing activities (51,852 ) 97,026 Cash flows from financing activities: Proceeds from issuance of common stock upon exercise of stock options 3,372 1,000 Proceeds from issuance of common stock under employee stock purchase plan 4,481 4,765 Payment for taxes related to net share settlement of stock options (1,547 ) — Proceeds from issuance of convertible senior notes, net of issuance costs — 145,861 Net cash provided by financing activities 6,306 151,626 Effect of exchange rates on cash and cash equivalents 386 (1,383 ) Net increase in cash and cash equivalents 21,550 211,593 Cash and cash equivalents, beginning of period 256,065 203,239 Cash and cash equivalents, end of period $ 277,615 $ 414,832 ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (in thousands, except percentages) (unaudited) Subscription Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of cost of subscription revenue: GAAP cost of subscription revenue $ 23,954 $ 20,378 $ 67,207 $ 62,304 Less: Stock-based compensation (2,331 ) (2,350 ) (6,291 ) (6,889 ) Amortization of acquired intangibles (1,164 ) (607 ) (2,706 ) (2,083 ) Workforce reductions (228 ) — (796 ) (38 ) Acquisition-related expenses (12 ) — (103 ) — Asset impairment — (439 ) — (439 ) Shareholder matters — — (20 ) — Non-GAAP cost of subscription revenue $ 20,219 $ 16,982 $ 57,291 $ 52,855 GAAP subscription gross margin 77 % 79 % 78 % 78 % Non-GAAP subscription gross margin 81 % 83 % 81 % 81 % Professional Services Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of cost of professional services revenue: GAAP cost of professional services revenue $ 14,383 $ 14,650 $ 43,483 $ 47,851 Less: Stock-based compensation (2,598 ) (2,747 ) (7,359 ) (8,997 ) Acquisition-related expenses (22 ) — (22 ) — Shareholder matters — — (28 ) — Workforce reductions — — (5 ) (46 ) Non-GAAP cost of professional services revenue $ 11,763 $ 11,903 $ 36,069 $ 38,808 GAAP professional services gross margin (23 )% (24 )% (29 )% (27 )% Non-GAAP professional services gross margin (1 )% (1 )% (7 )% (3 )% ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (in thousands, except percentages) (unaudited) Total Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of gross profit: GAAP gross profit $ 78,592 $ 74,821 $ 231,404 $ 210,837 Add: Stock-based compensation 4,929 5,097 13,650 15,886 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 228 — 801 84 Acquisition-related expenses 34 — 125 — Asset impairment — 439 — 439 Shareholder matters — — 48 — Non-GAAP gross profit $ 84,947 $ 80,964 $ 248,734 $ 229,329 GAAP gross margin 67 % 68 % 68 % 66 % Non-GAAP gross margin 73 % 74 % 73 % 71 % Operating (Loss) Income and Operating Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of (loss) income from operations: GAAP loss from operations $ (11,718 ) $ (8,821 ) $ (25,379 ) $ (47,239 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP income from operations $ 25,100 $ 15,990 $ 69,287 $ 31,620 GAAP operating margin (10 )% (8 )% (7 )% (15 )% Non-GAAP operating margin 21 % 15 % 20 % 10 % ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (in thousands, except per share data) (unaudited) Net (Loss) Income and Net (Loss) Income Per Share Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of net (loss) income: GAAP net loss $ (32,206 ) $ (5,502 ) $ (53,135 ) $ (47,359 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Change in fair value of debt derivative and warrant liabilities 20,174 (6,997 ) 29,115 (2,241 ) Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP net income $ 24,786 $ 12,312 $ 70,646 $ 29,259 GAAP net loss per share, basic and diluted 1 $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Non-GAAP net income per share, basic and diluted 1 $ 0.16 $ 0.09 $ 0.47 $ 0.21 (1) For the three months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 152.3 million and 141.5 million basic and diluted weighted-average shares of common stock, respectively. For the nine months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 149.5 million and 138.8 million basic and diluted weighted-average shares of common stock, respectively. Adjusted Free Cash Flow Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of adjusted free cash flow: Net cash provided by (used in) operating activities (GAAP) $ 22,408 $ (55,657 ) $ 66,710 $ (35,676 ) Add: Acquisition-related expenses 5,587 28 7,300 135 Shareholder matters 824 71,377 4,379 72,130 Less: Purchases of property and equipment (3,330 ) (3,075 ) (9,252 ) (6,913 ) Adjusted free cash flow (non-GAAP) $ 25,489 $ 12,673 $ 69,137 $ 29,676 Net cash provided by (used in) investing activities (GAAP) $ 18,999 $ 2,005 $ (51,852 ) $ 97,026 Net cash (used in) provided by financing activities (GAAP) $ (1,295 ) $ 145,899 $ 6,306 $ 151,626 View source version on businesswire.com : https://www.businesswire.com/news/home/20241209614914/en/ CONTACT: Investor Relations Contact: Luana Wolk investorrelations@zuora.com 650-419-1377Media Relations Contact: Margaret Juhnke press@zuora.com 619-609-3919 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE PAYMENTS ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY ELECTRONIC COMMERCE FINTECH OTHER TECHNOLOGY SOURCE: Zuora, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:10 PM/DISC: 12/09/2024 04:08 PM http://www.businesswire.com/news/home/20241209614914/en
The Los Angeles Galaxy will aim to complete one of the most remarkable transformations in Major League Soccer history on Saturday when they host the New York Red Bulls chasing a record-extending sixth MLS Cup crown. A year ago, the California franchise had hit rock bottom, plummeting to their worst ever regular season record to finish one place off the bottom of the Western Conference. The team that had once been a home to the likes of David Beckham, Steven Gerrard and Zlatan Ibrahimovic were engulfed in crisis, with fans boycotting fixtures after nearly a decade of failure on the field. Moreover, the Galaxy's status as one of MLS's glamour clubs had been diminished by the arrival of Lionel Messi at Inter Miami, as well as the emergence of city rivals Los Angeles FC, winners of the MLS Cup in 2022. The febrile atmosphere at the Galaxy prompted team ownership to shake up their front office, with Will Kuntz appointed general manager to replace long-time predecessor Chris Klein, who was fired in May 2023. The turnaround since those changes has been dramatic. After winning just eight fixtures in the 2023 season, the Galaxy under head coach Greg Vanney won a record-equalling 19 games this season to finish joint top of the table, second only to leaders LAFC on goal difference. The Galaxy kept up their winning ways in the postseason, swatting aside Colorado 9-1 on aggregate to wrap up their first round series, before thrashing Minnesota United 6-2 and then squeezing past Seattle 1-0 last weekend. Those results have left the club on the threshold of a first MLS Cup title since 2014 and a record sixth championship overall. Victory in Saturday's showpiece in Carson would be especially sweet for Vanney, who appeared in three MLS Cup finals with the Galaxy as a player in 1996, 1999 and 2001 -- and lost all three. Reflecting on his team's journey to this year's final, Vanney said this week his team had thrived under the pressure of being expected to challenge for silverware. "The expectation is to be in games like this, to win trophies and win championships," Vanney said. "This group has come out and attacked it from day one and hasn't been afraid of it or in awe of it -- and that's one of the beauties of this group. "I'm excited for this group and this opportunity and now the objective is to win it and put the stamp on it, rewriting a new group of players and new legacy for this organisation." Vanney's task has become more complicated by an injury to star midfielder Riqui Puig, who suffered torn knee ligaments in last week's Western Conference final win over Seattle and will miss Saturday's game. "He's the ultimate competitor," Vanney said. "He wants to win, compete, and take responsibility on the field. He drives the team in so many ways. "We're going to have to adapt, and we're going to have to adapt in a collective way." The Galaxy meanwhile will be wary of a New York Red Bulls line-up that have ripped up the form book en route to the final. After finishing seventh in the Eastern Conference -- 27 points behind leaders Inter Miami -- the Red Bulls stunned reigning champions Columbus in the first round of the playoffs before wins on the road over rivals New York City FC and Orlando to book their place in their first MLS Cup since 2008. New York's Scotland international midfielder Lewis Morgan says the team is unfazed by Saturday's assignment in Los Angeles. "For me, it doesn't really matter where it is: it's playoff football," Morgan said this week. "It's not the regular season. These games are more cagey. You go 1-0 up, we defend a little bit deeper and we're relying on guys at the back. There have been massive performances." rcw/bbMaravai LifeSciences Appoints R. Andrew Eckert as Chairman of the Board of Directors
Dear Eric: I have a widowed friend we’ll call Vivian. Since her husband died a few years ago, my husband and I have invited her to have dinner with us on several occasions. Recently, I invited her to join us on a certain Friday. I asked about 10 days in advance, and we then settled on a time and restaurant. Everything was fine until about three days before our date. I got a text from her saying that her nephew was coming to town, and she might have a family obligation on Friday. She would let me know whether or not she could make “our date”. I don’t understand. She makes the date with me and then decides this may not work? My husband said that Vivian values her family over our friendship. Your thoughts? – Dining Alone Dear Dining: While I understand the disappointment of canceled plans, I think your read of Vivian is a bit uncharitable. If her nephew doesn’t live in town, it stands to reason that she doesn’t have as many chances to see him as she does you. I’d hope you’d be happy that your friend gets to maintain family connections. Your friendship isn’t in competition with Vivian’s family. They are separate relationships, each with its own importance. But, resenting her seeing family members indicates an insecurity that could poison your relationship. So, don’t let it. Right-size your feelings about this, suggest a few dates to reschedule, and wish Vivian well at her family event. Dear Eric: A, B, and C live in the same senior apartment building. A invites B to go to lunch or a movie or any social gathering. Can B suggest they invite C? My friend says that is bad manners. I say the opposite. Who is right? – Social Rules Dear Social: Some of this depends on context. Inviting a third person to a movie is different from inviting them to, say, your friend’s niece’s baby shower. But asking for permission beforehand is, generally, good form. Moreover, it can bring up the kind of unspoken rules that can result in bruised feelings if broken. It sounds like you’re trying to expand your social circle (presuming you’re B). Your friend may feel insecurity or shyness, or she simply may not want to hang out with C. I don’t see the ask as bad manners, but what’s most important is why your friend sees it that way. Asking a follow-up question like “is there a time when inviting C would be better for you?” or simply “can you tell me why you feel that way?” will help you understand each other more clearly. Send questions to R. Eric Thomas at eric@askingeric.com or P.O. Box 22474, Philadelphia, PA 19110. Follow him on Instagram and sign up for his weekly newsletter at rericthomas.com .Mission 1st of 144 B.C. RCMP detachments to rollout body-worn cameras
Man, woman attacked as kids’ fight becomes brawlHyperLocal Don't miss out on the headlines from HyperLocal. Followed categories will be added to My News. These matters will be heard in Sunshine Magistrates' Court today: Today's court listings are published as part of News Corporation's commitment to public interest journalism and are compiled from information made publicly available by the courts in each State and territory. The list is a public record of people appearing before the relevant court and there is no suggestion whatsoever of any wrongdoing by anyone named in these lists. Beans Technology Pty Ltd Beazley, Ben Beazley, Ben Erskin, Henrietta Kowalski, Kryszof Jordan, Benjamin West, Damian Robert Etimani, Simon Mez, Warren Peter Amato, Peni Brown, Ricky Brown, Ricky Brown, Ricky Etimani, Simon Chow, Ervein Javed, Saad Lai, Phat Balshaw, Jackson Neale, Kimberly Marsh, Joseph Webb, Shane Victor Sergiou, Peter Bowen, Bradley Bowen, Bradley Akok, Ngor Mudliar, Alin Naeck, Jayganaden Purcell, Rudy Singh, Manpreet Hallinan, Tyson Corevski, Tony Amato, Peni Amato, Peni Nguyen, Minh Bami, Richard Murdoch, Rebecca Davey, Joanne Abrahm, David Sergiou, Peter Ferguson, Terry Mark Zulfija, Penny Tenerezza, Riccardo Sheikh, Ahmed Nur Abraham, Blessed Ashard-Moore, Rebecca Kapoor, Vivek Day, Kristy Ann Kowalski, Krzysztof Cauchi, Jeffrey Slat, Robert Brown, Ricky Uppal, Gaganpreet Mudliar, Alin Marinelli, Maurice Baird, Victoria Batty, Matthew Morrison, Tamika Abdullah, Lina Bekut-Smoult, Dusanka Daytha, Kiran Daytha, Kiran Zagami, Dean Murphy, Christine Parker, Jack Else, Shaun Kowalski, Krzysztof Wells, Chantelle Cauchi, Jeffrey Desilva, Tyler Tong, Bol Chol Topal, Ann-Marie Tran, Thein Houng Arop, Madut Aropp, Madut Aropp, Madut Mudliar, Alin Alton, Bradley Doolan, Chris James Christov, Jennifer Lai, Phat Kowalski, Krzysztof Kowalski, Krysztof Nguyen, Thinh Parker, Jack Parker, Jack Bailey, Nicholas James Magayane, Espoir Townsend, Lisa Hassan, Feriha Batty, Matthew Cave, Matthew Mclarty, Ty Calderon, Ruben Johnson, Kane Hester, Paul Kowalski, Krzysztof Kacinari, Armando Ferguson, Terry Ferguson, Terry Mez, Warren Carlin, Chris Else, Shaun Robert Wilson, Bailey Uppal, Gaganpreet Kaur Deng, Faiza Anwari, Sayed Asad Jafari, Hussain Kowalski, Krzysztof Ferguson, Terry Mark Majok, Majok Thompson, Blake Kacinari, Armando Fawcett, Wade Majok, Majok Mudliar, Alin Sammut, Rachael Mudliar, Alin Dawam, Yout Vu, Dung Deng, Majok Majok Cauchi, Jeffrey Dawam, Yout Kuer, Deng Elliott, Amanda Aropp, Madut Aropp, Madut Carruthers, Simon Daytha, Kiran Mathieson, Scott Daytha, Kiran Manouk, Mayong Mudliar, Alin Cauchi, Jeffrey Blanchonette, James Bruce Beazley, Ben Presta, Shanella Mez, Warren Peter Dawam, Yout Dawam, Yout Beazley, Ben Beazley, Ben Beazley, Ben Mez, Warren Manouk, Mayong Chee, Shaun Michael Amato, Peni Dawam, Yout Singh, Amninder Paull, Mathew Tran, Dung Dawam, Yout Vigeneashwaran, Pooja Abbott, Christopher Moore, Rebecca Tran, Dung Van Brown, Cowen Stewart, Michelle Tariq, Umar Wiliams-Farmilo, Nellie Willis, Robert Purcell, Rudy William Awad, Maged Beazley, Ben Leivers, Kristian Irvine, Nathan Deng, Aguek Portelli, Adrian Portelli, Adrian Deng, Aquek Deng, Aguek Tuimaseve, Akeripa Deng, Aguek Ferguson, Terry Mark El-Chikhani, Michel Beazley, Ben Sobat, Milos Beazley, Benjamin Nguyen, Vu Huy Nicholson, Joshua Al Dahan, Ali Beazley, Ben Beazley, Ben Kur, Abraham Purcell, Rudy Purcell, Rudy Mathieson, Nigel Akok, Ngor Deng, Thokbany Akok, Ngor Anwari, Sayed Quach, Khai Shilling, Vanessa Kur, Abraham Presta, Shanella Tasevski, Robert Kur, Abraham Brancatella, Roberto Dawam, Yout Amato, Peni The previous court list article for Sunshine Magistrates' Court can be viewed here . More related stories HyperLocal Here’s what you can expect with today’s Wyndham weather As we move into summer what can locals expect today? We have the latest word from the Weather Bureau. Read more HyperLocal Everybody appearing at Werribee Magistrates’ Court, Tuesday, December 10 Here is a list of matters listed at Werribee Magistrates' Court on Tuesday. Read moreMission 1st of 144 B.C. RCMP detachments to rollout body-worn cameras
Ludhiana: A minor fight between two children in a posh housing society at Pakhowal road led to a violent clash when parents of one of the kids attacked the mother of another on Sunday. The accused also attacked a neighbour who tried to intervene, leaving him with a head injury. Rahul Singla, husband of the injured woman, said that his son called him saying that some people were beating his mother. He rushed home to find his wife injured. He added that their neighbour, Vishal Bhatia, tried to rescue his wife and sustained a severe head injury. Singla said that the dispute started when two groups of children fought with each other while playing. Matters escalated when parents of a few children went to Singla’s house and attacked his wife. Bhatia said, “I heard screams of the children and Rahul Singla’s wife and saw a group of people attacking her. Had I not intervened, they would have torn her clothes. When I tried to stop them, the accused assaulted me.” ASI Balbir Singh, in charge, Lalton Kalan Police Post, said that the police have received a written complaint. tnn We also published the following articles recently When Prince Harry said Meghan Markle and his late mother Princess Diana would have been thick as thieves Prince Harry and Meghan Markle's 2017 engagement was marked by a touching tribute to Princess Diana. Harry incorporated diamonds from his mother's jewelry into Meghan's ring, symbolizing Diana's presence on their journey. Meghan expressed gratitude for this thoughtful gesture, feeling connected to Diana through the ring and those who knew her. Man asks estranged wifes neighbour to fix a meet with her, kidnaps his son A 25-year-old laborer, Varun, was arrested in Gurgaon for abducting a 10-year-old boy. He demanded his estranged wife, residing in the same locality, meet him as a condition for the boy's release. The boy's father, also a laborer, received the call from Varun after his son disappeared from a local park. All about David Perdue's family: Meet his wife Bonnie Dunn, children and grandchildren Former Georgia Senator David Perdue has been appointed by Donald Trump as the next US Ambassador to China. Trump highlighted Perdue's Asian business experience and Senate committee work. Perdue, a businessman and politician, previously served as a US Senator from 2015-2021 and unsuccessfully ran for Georgia governor in 2022. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , and Mini Crossword .
NoneSecond Cup closes cafés, cuts ties with Montreal franchisee over 'hateful remarks and gestures'It’s a stormy holiday weekend, and you’ve just received the last notification you want in the busiest travel week of the year: The first leg of your flight is significantly delayed. You might expect this means you’ll be sitting on hold with airline customer service for half an hour. But this time, the process looks a little different: You have a brief text exchange with the airline’s AI chatbot, which quickly assesses your situation and places you in a priority queue. Shortly after, a human agent takes over, confirms the details, and gets you rebooked on an earlier flight so you can make your connection. You’ll be home in time to enjoy mom’s pot roast. Generative AI is becoming a key component of business operations and customer service interactions today. According to Salesforce research, three out of five workers (61%) either currently use or plan to use generative AI in their roles. A full 68% of these employees are confident that the technology—which can churn out text, video, image, and audio content almost instantaneously—will enable them to provide more enriching customer experiences. But the technology isn’t a complete solution—or a replacement for human workers. Sixty percent of the surveyed employees believe that human oversight is indispensable for effective and trustworthy generative AI. Generative AI enables people and increases efficiencies in business operations, but using it to empower employees will make all the difference. Its full business value will only be achieved when it is used thoughtfully to blend with human empathy, ingenuity, and emotional intelligence. Though the technology is still nascent, many generative AI use cases are starting to emerge. In sales and marketing, generative AI can assist with creating targeted ad content, identifying leads, upselling, cross-selling, and providing real-time sales analytics. When used for internal functions like IT, HR, and finance, generative AI can improve help-desk services, simplify recruitment processes, generate job descriptions, assist with onboarding and exit processes, and even write code.
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Kyiv: Russia fired a hypersonic intermediate-range ballistic missile at the city of Dnipro on Thursday in response to the US and UK allowing Kyiv to strike Russian territory with advanced Western weapons , in a further escalation of the 33-month-old war. The weapon contained multiple independent warheads, a key design feature of many nuclear weapons. In this screen grab from a video provided by the Come Back Alive Foundation, lights are seen in the sky during a Russian attack on Dnipro, Ukraine. Credit: AP Russian President Vladimir Putin, in a televised address, said Moscow struck a Ukrainian military facility with a new ballistic missile known as Oreshnik (“the hazel”) and warned that more could follow. “A regional conflict in Ukraine previously provoked by the West has acquired elements of a global character,” Putin said in an address to the nation carried by state television after 8pm Moscow time (0400 Friday AEDT). A US official said Washington was pre-notified by Russia shortly before its strike, while another said they had briefed Kyiv and other close allies in recent days to prepare for the possible use of such a weapon. Earlier on Thursday, Kyiv said that Russia had fired an intercontinental ballistic missile (ICBM ), a weapon designed for long-distance nuclear strikes and never before used in war, though US officials said it was an intermediate-range ballistic missile (IRBM) that has a smaller range. Putin addresses the nation from the Kremlin in Moscow. Credit: AP Regardless of its classification, the latest strike highlighted rapidly rising tensions in the past several days. Ukraine fired US and British missiles at targets inside Russia this week despite warnings by Moscow that it would see such action as a major escalation. “Today, there was a new Russian missile. All the characteristics – speed, altitude – are (of an) intercontinental ballistic (missile). An expert investigation is currently under way,” Ukrainian President Volodymyr Zelensky said in a video statement. Rescue workers put out a fire of a burning house damaged by a Russian strike on Dnipro, Ukraine. Credit: AP Ukraine’s Foreign Ministry urged the international community to react swiftly to the use of what it said was “the use by Russia of a new type of weaponry”. A US official, speaking on condition of anonymity, said Russia likely possesses a handful of the “experimental” IRBMs used in Thursday’s strike. Ukraine’s air force said the missile targeted Dnipro in central-eastern Ukraine and was fired from the Russian region of Astrakhan, more than 700 kilometres away. It did not specify what kind of warhead the missile was carrying, and there was no suggestion it was nuclear-armed. Intermediate-range ballistic missiles have a range of 3000 – 5500 kilometres. Loading “Whether it was an ICBM or an IRBM, the range isn’t the important factor,” said Fabian Hoffmann, a doctoral research fellow at Oslo University specialising in missile technology and nuclear strategy. “The fact that it carried a MIRV-ed (Multiple Independently targetable Re-entry Vehicle) payload is much more significant for signalling purposes and is the reason Russia opted for it. This payload is exclusively associated with nuclear-capable missiles.” Russia also fired a Kinzhal hypersonic missile and seven Kh-101 cruise missiles at Dnipro, targeting enterprises and critical infrastructure, six of which were shot down, the Ukrainian Air Force said. Dnipro was a missile-making centre in the Soviet era. Ukraine has expanded its military industry during the war but has kept its whereabouts secret. The air force did not say what the missile targeted or whether it had caused any damage, but regional Governor Serhiy Lysak said the attack damaged an industrial enterprise and set off fires the city. Two people were hurt. Ukrainska Pravda , a Kyiv-based media outlet, had cited anonymous sources saying the missile was an RS-26 Rubezh, a solid-fuelled ICBM with a range of 5,800 kilometres, according to the Arms Control Association. A group of glowing projectiles could be seen plummeting to the ground from the night sky in a video published by Come Back Alive, a Ukrainian military charity. It said the video was of Dnipro overnight. The NATO military alliance did not respond to a request for comment. The US European Command said it had nothing on the reported use of an ICBM and referred questions to the US Department of Defence. Act of deterrence Loading Some military experts said the missile launch if confirmed, could be seen as an act of deterrence by Moscow following Kyiv’s strikes into Russia with Western weapons this week. Russian war correspondents on Telegram and an official speaking on condition of anonymity said Kyiv fired British Storm Shadow cruise missiles into Russia’s Kursk region bordering Ukraine on Wednesday. Russia’s Defence Ministry, in its daily report of events over the previous 24 hours on Thursday, said air defences had shot down two British Storm Shadow cruise missiles but did not say where. Britain had previously let Ukraine use Storm Shadows only within Ukrainian territory. Ukraine also fired American ATACMS missiles into Russia on Tuesday after US President Joe Biden gave the all-clear to use such missiles in this way, two months before he leaves office and Donald Trump returns to the White House. Putin on Tuesday lowered Russia’s threshold for a nuclear strike in response to a broader range of conventional attacks. Trump has said he will end the war, without saying how, and has criticised billions of dollars in aid for Ukraine under Biden. The warring sides believe Trump is likely to push for peace talks – not known to have been held since the war’s earliest months – and are trying to attain strong positions before negotiations. Moscow has said the use of Western weapons to strike Russian territory far from the border would be a major escalation. Kyiv says it needs the capability to defend itself by hitting Russian bases used to support its forces in Ukraine. Reuters Get a note directly from our foreign correspondents on what’s making headlines around the world. Sign up for the weekly What in the World newsletter here . Save Log in , register or subscribe to save articles for later. Russia Russia Ukraine Most Viewed in World LoadingOur community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Gogglebox 's Stephen Webb and his estranged Daniel Lustig-Webb are mourning the loss of their cherished dog. The pair, who were married in 2018 and surprised fans with news of their split earlier this year , have been co-parenting their adorable brood of dogs amidst their separation. Despite going their separate ways, they've been lauded for their commitment to their furry friends. However, a touching Instagram post on Sunday, 24 November, the former couple announced the sad passing of one of their beloved pets. They posted an image of their dog donning a vibrant orange collar against a blustery backdrop. Alongside the photo, they penned a heartfelt tribute: "Today we said goodbye to the kindest little girl, our princess RIP @lustig75." Their followers flooded the comments with messages of condolence, with one fan commenting: "Sending you the biggest love the paw print they leave on our hearts stay forever." Another shared: "I'm sorry for your loss," reports the Mirror . Meanwhile another added: "Run free sweetheart." The tragic news comes seven months after the pair shocked fans by revealing their plan to divorce following six years of marriage. In a candid interview, Daniel told The Sun on Sunday in April their plans to divorce. "It's with much sadness Daniel and I have decided to divorce. There is, and always will be, a lot of love there but we've unfortunately grown apart and made the decision to part ways," he said. He continued by stating, "We've made the decision with a very heavy heart to confirm our marriage has come to an end. I'm sure we will forever be friends." Despite their split, Daniel and Stephen earned admiration for still teaming up to take care of their pets. Just weeks following their unexpected separation, Stephen shared snaps of Daniel with their treasured dogs on Instagram, captioning them: "Co parenting and shopping with the poodles [heart emoji] @lustig75." Their supportive followers flooded the comments with positive messages, praising the mature handling of their breakup. Fans were quick to express their adoration for the duo's friendship, with heartfelt comments like "You guys [heart emoji] - you could teach many divorced couples a thing or two." Another said: "Love that you are both still good friends. Some people need to take a leaf out of your book xx Have the best day." Others added their personal experiences, saying, "I love this, me and my ex-husband are best friends, we speak every day! Good luck to both of you," while another stated, "Inspirational breakup behaviour. So many could learn from you guys." Stephen and Daniel were a staple on Gogglebox from 2018 to 2023, before making the shocking decision to leave the show. Prior to this, Stephen had been a regular face on the programme alongside his ex-boyfriend Christopher Steed, with their stint running from 2013 to 2017.
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