WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump said Wednesday that he has chosen Keith Kellogg, a highly decorated retired three-star general, to serve as his special envoy for Ukraine and Russia. Kellogg, who is one of the architects of a staunchly conservative policy book that lays out an “America First” national security agenda for the incoming administration, will come into the role as Russia’s invasion of Ukraine enters its third year in February. Trump, making the announcement on his Truth Social account, said, “He was with me right from the beginning! Together, we will secure PEACE THROUGH STRENGTH, and Make America, and the World, SAFE AGAIN!” Kellogg, an 80-year-old retired Army lieutenant general who has long been Trump’s top adviser on defense issues, served as national security adviser to Vice President Mike Pence , was chief of staff of the National Security Council and then stepped in as an acting security adviser for Trump after Michael Flynn resigned. As special envoy for Ukraine and Russia, Kellogg will have to navigate an increasingly untenable war between the two nations. The Biden administration has begun urging Ukraine to quickly increase the size of its military by drafting more troops and revamping its mobilization laws to allow for the conscription of those as young as 18. The White House has pushed more than $56 billion in security assistance to Ukraine since the start of Russia’s February 2022 invasion and expects to send billions more before Biden leaves office in less than two months. The U.S. has recently stepped up weapons shipments and has forgiven billions in loans provided to Kyiv. Trump has criticized the billions the Biden administration has spent in supporting Ukraine and has said he could end the war in 24 hours, comments that appear to suggest he would press Ukraine to surrender territory that Russia now occupies. As a co-chairman of the American First Policy Institute’s Center for American Security, Kellogg wrote several of the chapters in the group’s policy book. The book, like the Heritage Foundation’s “Project 2025,” is designed to lay out a Trump national security agenda and avoid the mistakes of 2016 when he entered the White House largely unprepared. Kellogg in April wrote that “bringing the Russia-Ukraine war to a close will require strong, America First leadership to deliver a peace deal and immediately end the hostilities between the two warring parties.” Trump's proposed national security adviser , U.S. Rep. Michael Waltz of Florida, tweeted Wednesday that “Keith has dedicated his life to defending our great country and is committed to bringing the war in Ukraine to a peaceful resolution.” Kellogg featured in multiple Trump investigations dating to his first term. He was among the administration officials who listened in on the July 2019 call between Trump and Volodymyr Zelenskyy in which Trump prodded his Ukrainian counterpart to pursue investigations into the Bidens. The call, which Kellogg would later say did not raise any concerns on his end, was at the center of the first of two House impeachment cases against Trump, who was acquitted by the Senate both times. On Jan. 6, 2021, hours before pro-Trump rioters stormed the U.S. Capitol, Kellogg, who was then Pence’s national security adviser, listened in on a heated call in which Trump told his vice president to object or delay the certification in Congress of President Joe Biden ’s victory. He later told House investigators that he recalled Trump saying to Pence words to the effect of: “You’re not tough enough to make the call.” Baldor reported from Washington. AP writer Eric Tucker in Washington contributed to this report.The authorities handling the investigation have vowed to pursue all leads and gather all necessary evidence to bring the case to a resolution. The complexities of the case, however, pose numerous challenges and obstacles that must be overcome in order to reach a satisfactory conclusion.In recent years, the issue of personal pension has been gaining increasing attention in the industry. Governments and financial institutions around the world are looking to expand and optimize personal pension systems, aiming to enhance retirement security for individuals. As the aging population continues to grow, it has become imperative to develop comprehensive and efficient personal pension schemes to support retirees in their later years.
Marco Silva vowed Fulham will keep pushing for more after they leapt up to sixth in the Premier League following a 3-1 win over Brighton. Alex Iwobi scored twice to catapult the Cottagers six places from 12th in a congested table. Fulham were pegged back after Iwobi’s quickfire opener by Carlos Baleba’s fine strike early in the second half. But Matt O’Riley’s own goal gifted them the lead again and Iwobi hit his second to ensure Brighton have still never beaten Fulham in the Premier League. Silva said: “They are a really tough team to play against, top quality individuals, not losing many games. “We started the game the best way possible but the first half was really difficult for us. They had chances to equalise and were the better team. “The second half was completely different. Even when they equalised we were the best team on the pitch and we reacted well. It’s a big three points for us against top opposition. Credit to Brighton but I think we deserved the win. “We are pleased with the position, we know our reality and we are going to push ourselves.” Just three minutes had elapsed when Brighton handed Fulham the lead after playing the ball back to their goalkeeper Bart Verbruggen, a few yards to the left of his goal. The Dutchman was under minimal pressure, but his pass out towards Baleba on the edge of the box was intercepted by Iwobi who strode forward and tucked the ball into an empty net before Verbruggen could scramble back. The equaliser came moments later, and for all Brighton’s slick short passing it came from Jan Paul Van Hecke’s straightforward ball over the top. Joao Pedro did brilliantly to cushion the ball into the path of Baleba, with the Cameroon youngster bludgeoning a low shot from the edge of the box past Bernd Leno into the corner. But Fulham went ahead again with 11 minutes remaining when substitute Andreas Pereira swung in a corner. The ball skimmed off the head of Calvin Bassey and went in off the back of the unfortunate O’Riley. Then, with three minutes left, Iwobi spun away from two Brighton defenders before curling past Verbruggen into the far corner to secure victory for the upwardly-mobile Cottagers. It was an uncomfortable watch for Seagulls boss Fabian Hurzeler, albeit high up in Fulham’s plush new Riverside Stand while he served a touchline ban. “It’s not the best feeling to watch in the stand,” he said. “I think we all know that’s not the result we deserved. “We created a lot of chances and gave away a goal with an error in the build-up and an own goal. “But it’s football. That’s exactly what I demand from Bart, to find solutions on the ground. We will give him feedback and the players will improve. “But mistakes happen. If there were no mistakes there would be no goals.” This article was generated from an automated news agency feed without modifications to text.Saturday’s Zipping Classic could provide some limited consolation for Muramasa’s connections. Muramasa will tackle the $750,000 race less than a month after the gelding was withdrawn from the $8 million Melbourne Cup on veterinary advice. A panel of vets ruled out Muramasa after deeming scans revealed the stayer had an increased risk of injury if he ran in the Melbourne Cup. However, a second set of scans from more advanced technology at the University of Melbourne’s equine science centre showed Muramasa’s bone irregularity was inactive, clearing the five-year-old to race. • PUNT LIKE A PRO : Become a Racenet iQ member and get expert tips – with fully transparent return on investment statistics – from Racenet’s team of professional punters at our Pro Tips section. SUBSCRIBE NOW ! The turmoil surrounding Muramasa’s spring preparation left the stayer with a five-week gap between his most recent run, when third in the Geelong Cup , and the Zipping Classic. Co-trainer Trent Busuttin said the enforced break did not present the perfect scenario but he noted Muramasa performed well with four weeks between runs last spring. “He’s five weeks between runs and it’s still 2400(m) so it’s not ideal,” Busuttin, who trains Muramasa in partnership with Natalie Young, said. “He raced well with a few gaps between his races last year.” Busuttin said he and Young had been able to work Muramasa while the son of Deep Impact would be better for a jumpout at Cranbourne last Monday. Ladbrokes rated Muramasa as an $8 chance in early betting on Saturday’s Group 2 Zipping Classic at Caulfield. Picture: Racing Photos • Cachink won’t blink in Sandown Guineas “He trialled up last Monday over 1400(m) and it’s not the same as race day pressure but I’m pretty happy with where we are,” Busuttin said. “We’ve been able to get the work into him and he’s a naturally fit horse.” Busuttin said he and Young would keep an eye on the weather forecast in the next few days as Muramasa enjoyed racing on firmer tracks. The Bureau of Meteorology has forecast up to 15mm of rain on Wednesday, but Busuttin was hopeful the Caulfield track would dry sufficiently before Saturday. “For once we hope the weather gods are on our side because the long-range forecast looks a bit dodgy,” Busuttin said. RICHARD CALLANDER COLUMN While we fight amongst ourselves over the sale of Rosehill and Sandown, the pattern and the exorbitant cost of yearlings, @richieplz says racing is failing to address the industryâs most compelling challenge. ð https://t.co/Xhf9TVAtt4 pic.twitter.com/3oCJwbEaZG — Racenet (@RacenetTweets) November 25, 2024 Muramasa is one of 21 nominations for the Group 2 Zipping Classic. Tancred Stakes winner Arapaho and the 2019 Melbourne Cup winner Vow And Declare are among the Group 1 winners entered in the Zipping Classic. Arapaho is the highest-rated entry on 108, three points ahead of the Grahame Begg -trained Nonconformist . Coongy Cup winner Kingswood is the $5 favourite in Ladbrokes’ early betting on the Zipping Classic ahead of Arapaho and lightly-raced stayer Alma Rise at $7. Muramasa shares the third line of betting at $8 along with Naval College , Smokin’ Romans and Star Vega . Originally published as Melbourne Cup scratching Muramasa chasing Zipping Classic consolation prize at Caulfield Horse Racing Don't miss out on the headlines from Horse Racing. Followed categories will be added to My News. Join the conversation Add your comment to this story To join the conversation, please log in. Don't have an account? Register Join the conversation, you are commenting as Logout More related stories Horse Racing Jockey banned from media interviews amid charges Jockey Justin Huxtable has been allowed to ride by the Queensland Racing Appeals Panel under certain conditions after he was charged by police. Read more Horse Racing WATCH: Bjorn spells out why Overpass will again rule the west Bjorn Baker explains why his sprint warrior Overpass can successfully defend his Group 1 Winterbottom Stakes crown on Saturday. Read more7 Steps to Help Keep Your Small Business Cyber Safe This Holiday Season
BELLEVUE, Wash.--(BUSINESS WIRE)--Dec 5, 2024-- Smartsheet Inc. (NYSE: SMAR), the AI enhanced enterprise grade work management platform, today announced financial results for its third fiscal quarter ended October 31, 2024. Third Quarter Fiscal 2025 Financial Highlights Revenue: Total revenue was $286.9 million, an increase of 17% year over year. Subscription revenue was $273.7 million, an increase of 18% year over year. Professional services revenue was $13.2 million, a decrease of (2)% year over year. Operating loss: GAAP operating loss was $(3.4) million, or (1)% of total revenue, compared to $(35.5) million, or (14)% of total revenue, in the third quarter of fiscal 2024. Non-GAAP operating income: Non-GAAP operating income was $56.4 million, or 20% of total revenue, compared to $19.4 million, or 8% of total revenue, in the third quarter of fiscal 2024. Net income (loss): GAAP net income was $1.3 million, compared to GAAP net loss of $(32.4) million in the third quarter of fiscal 2024. GAAP basic and diluted net income per share was $0.01, compared to GAAP basic and diluted net loss per share of $(0.24) in the third quarter of fiscal 2024. Non-GAAP net income: Non-GAAP net income was $61.0 million, compared to $22.6 million in the third quarter of fiscal 2024. Non-GAAP basic and diluted net income per share was $0.44 and $0.43, respectively, compared to non-GAAP basic and diluted net income per share of $0.17 and $0.16, respectively, in the third quarter of fiscal 2024. Cash flow: Net operating cash flow was $63.5 million, compared to $15.1 million in the third quarter of fiscal 2024. Free cash flow was $61.8 million, or 22% of total revenue, compared to $11.4 million, or 5% of total revenue, in the third quarter of fiscal 2024. Third Quarter Fiscal 2025 Operational Highlights Annualized recurring revenue ("ARR") was $1.133 billion, an increase of 15% year over year Average ARR per domain-based customer was $10,708, an increase of 16% year over year Dollar-based net retention rate was 111% Number of all customers with ARR of $100,000 or more grew to 2,137, an increase of 20% year over year Number of all customers with ARR of $50,000 or more grew to 4,293, an increase of 15% year over year Number of all customers with ARR of $5,000 or more grew to 20,430, an increase of 5% year over year Third Quarter Fiscal 2025 Business Highlights Announced that Smartsheet entered into a definitive agreement to be acquired by Blackstone and Vista Equity Partners in an all-cash transaction valued at approximately $8.4 billion, or $56.50 per share Sold out our U.S. ENGAGE customer conference for the second consecutive year, welcoming over 4,000 attendees to Seattle to participate in more than 60 breakout sessions Unveiled the most comprehensive transformation of our offerings to date, debuting a new user experience and a range of first-of-a-kind features to empower organizations to operate at their peak Introduced a Smartsheet connector for Amazon Q Business, which will give Amazon Q Business customers the power to ask an intelligent assistant for information about their work in Smartsheet, eliminating data silos and enhancing visibility The section titled "Use of Non-GAAP Financial Measures" below contains a description of the non-GAAP financial measures with a reconciliation between GAAP and non-GAAP information. The section titled "Definitions of Key Business Metrics" contains definitions of certain non-financial metrics provided within this press release. Transaction with Blackstone and Vista Equity Partners In a separate press release issued on September 24, 2024, we announced that we have entered into a definitive agreement ("Merger Agreement"), to be acquired by Blackstone and Vista Equity Partners. A copy of the press release and supplemental materials can be found on the "Investors" page of our website at www.investors.smartsheet.com and on the Securities and Exchange Commission, or the SEC, website at www.sec.gov . Additional details and information about the terms and conditions of the Merger Agreement and the transactions contemplated by the Merger Agreement are available in the Current Report on Form 8-K filed with the SEC on September 24, 2024. Given the announced transaction, we will not be hosting an earnings conference call nor providing financial guidance in conjunction with this press release. For further detail and discussion of our financial performance, please refer to our third quarter 2025 Form 10-Q for the quarter ended October 31, 2024, filed today with the SEC. Use of Non-GAAP Financial Measures To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measures to such GAAP measures can be found in the accompanying financial statements included with this press release. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects, and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We are presenting these non-GAAP financial metrics to assist investors in seeing our financial performance through the eyes of management, and because we believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. We define non-GAAP operating income as GAAP operating loss excluding share-based compensation expense, amortization of acquisition-related intangible assets, one-time costs associated with mergers and acquisitions, lease restructuring costs, and litigation expenses and settlements related to matters that are outside the ordinary course of our business, as applicable. We define non-GAAP net income as GAAP net income (loss) excluding non-recurring income tax adjustments associated with mergers and acquisitions and the same exclusions that are used to derive non-GAAP operating income. We define basic non-GAAP net income per share as non-GAAP net income divided by weighted-average shares outstanding ("WASO"). We define diluted non-GAAP net income per share as non-GAAP net income divided by diluted WASO. Diluted WASO includes the impact of potentially dilutive securities, which include stock options, restricted share units, performance share units, and shares subject to our 2018 employee stock purchase plan. There are a number of limitations related to the use of these non-GAAP measures as compared to GAAP operating loss and net income (loss), including that the non-GAAP measures exclude share-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of our compensation strategy. We use the non-GAAP financial measure of free cash flow, which is defined as GAAP net cash flows from operating activities, reduced by cash used for purchases of property and equipment (inclusive of spend on internal-use software) and principal payments on finance lease obligations. We believe free cash flow is an important liquidity measure of the cash that is available, after capital expenditures and operational expenses, for investment in our business, share repurchases, and potential acquisitions. Free cash flow is useful to investors as a liquidity measure because it measures our ability to generate excess cash beyond what is required for our operations. Once our business needs and obligations are met, cash can be used to maintain a strong balance sheet and invest in future growth. There are a number of limitations related to the use of free cash flow as compared to net cash from operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made. Definitions of Key Business Metrics Annualized recurring revenue We define annualized recurring revenue, or ARR, as the annualized recurring value of all active subscription contracts at the end of a reporting period. We exclude the value of non-recurring revenue streams, such as our professional services revenue, that are recognized at a point in time. We use ARR as one of our operating measures to assess the strength of the Company’s subscription services. ARR is a performance metric and 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. Both multi-year contracts and contracts with terms less than one year are annualized by dividing the total committed contract value by the number of months in the subscription term and then multiplying by 12. Annualizing contracts with terms less than one year results in amounts being included in our ARR calculation that are in excess of the total contract value for those contracts at the end of the reporting period. The value of subscription contracts that are sold through third-party resellers, wherein we do not have visibility into the pricing provided, is based on the list price. Average ARR per domain-based customer We use average ARR per domain-based customer to measure customer commitment to our platform and sales force productivity. We define average ARR per domain-based customer as total outstanding ARR for domain-based subscriptions as of the end of the reporting period divided by the number of domain-based customers as of the same date. We define domain-based customers as organizations with a unique email domain name. Dollar-based net retention rate We calculate dollar-based net retention rate as of a period end by starting with the ARR from the cohort of all customers as of the 12 months prior to such period end (“Prior Period ARR”). We then calculate the ARR from these same customers as of the current period end (“Current Period ARR”). Current Period ARR includes any upsells and is net of contraction or attrition over the trailing 12 months, but excludes subscription revenue from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the dollar-based net retention rate. Any ARR obtained through merger and acquisition transactions does not affect the dollar-based net retention rate until one year from the date on which the transaction closed. The dollar-based net retention rate is used by us to evaluate the long-term value of our customer relationships and is driven by our ability to retain and expand the subscription revenue generated from our existing customers. About Smartsheet Smartsheet (NYSE: SMAR) is the modern enterprise work management platform trusted by millions of people at companies across the globe, including over 85% of the 2024 Fortune 500 companies. The category pioneer and market leader, Smartsheet delivers powerful solutions fueling performance and driving the next wave of innovation. Visit www.smartsheet.com to learn more. Disclosure of Material Information Smartsheet announces material information to its investors using SEC filings, press releases, public conference calls, and on its investor relations page of the company’s website at www.investors.smartsheet.com . SMARTSHEET INC. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenue Subscription $ 273,703 $ 232,470 $ 786,328 $ 659,993 Professional services 13,168 13,448 39,939 41,396 Total revenue 286,871 245,918 826,267 701,389 Cost of revenue Subscription 41,445 34,258 115,216 101,009 Professional services 12,291 12,780 36,693 38,948 Total cost of revenue 53,736 47,038 151,909 139,957 Gross profit 233,135 198,880 674,358 561,432 Operating expenses Research and development 63,477 58,257 189,514 172,805 Sales and marketing 127,854 137,920 383,315 382,685 General and administrative 45,155 38,153 124,489 109,654 Total operating expenses 236,486 234,330 697,318 665,144 Loss from operations (3,351 ) (35,450 ) (22,960 ) (103,712 ) Interest income 8,272 6,976 24,934 18,040 Other income (expense), net 47 (790 ) (593 ) (1,381 ) Income (loss) before income tax provision 4,968 (29,264 ) 1,381 (87,053 ) Income tax provision 3,644 3,164 1,057 8,602 Net income (loss) $ 1,324 $ (32,428 ) $ 324 $ (95,655 ) Net income (loss) per share, basic $ 0.01 $ (0.24 ) $ 0.00 $ (0.71 ) Net income (loss) per share, diluted $ 0.01 $ (0.24 ) $ 0.00 $ (0.71 ) Weighted-average shares outstanding used to compute net income (loss) per share, basic 139,007 135,189 138,287 133,868 Weighted-average shares outstanding used to compute net income (loss) per share, diluted 142,668 135,189 141,306 133,868 Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands, unaudited): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of subscription revenue $ 2,983 $ 3,164 $ 9,055 $ 9,980 Cost of professional services revenue 1,485 1,777 4,734 5,602 Research and development 17,763 17,220 54,036 52,263 Sales and marketing 14,453 17,462 45,472 55,505 General and administrative 9,151 10,024 29,827 30,099 Total share-based compensation expense $ 45,835 $ 49,647 $ 143,124 $ 153,449 SMARTSHEET INC. Condensed Consolidated Balance Sheets (in thousands, except share data) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 454,281 $ 282,094 Short-term investments 306,640 346,701 Accounts receivable, net of allowances of $5,335 and $6,560, respectively 200,436 238,708 Prepaid expenses and other current assets 69,840 64,366 Total current assets 1,031,197 931,869 Restricted cash 18 19 Deferred commissions 156,724 148,867 Property and equipment, net 39,139 42,362 Operating lease right-of-use assets 29,693 39,480 Intangible assets, net 20,635 27,960 Goodwill 141,477 141,477 Other long-term assets 4,408 5,445 Total assets $ 1,423,291 $ 1,337,479 Liabilities and shareholders’ equity Current liabilities: Accounts payable $ 1,128 $ 2,937 Accrued compensation and related benefits 74,840 77,453 Other accrued liabilities 37,309 30,534 Operating lease liabilities, current 15,288 16,040 Finance lease liabilities, current 255 216 Deferred revenue 556,320 568,670 Total current liabilities 685,140 695,850 Operating lease liabilities, non-current 23,936 33,100 Finance lease liabilities, non-current 279 455 Deferred revenue, non-current 4,095 1,785 Other long-term liabilities 696 434 Total liabilities 714,146 731,624 Shareholders’ equity: Preferred stock, no par value; 10,000,000 shares authorized, no shares issued or outstanding as of October 31, 2024 and January 31, 2024 — — Class A common stock, no par value; 500,000,000 shares authorized, 139,302,943 shares issued and outstanding as of October 31, 2024; 500,000,000 shares authorized, 136,884,011 shares issued and outstanding as of January 31, 2024 — — Class B common stock, no par value; 500,000,000 shares authorized, no shares issued and outstanding as of October 31, 2024 and January 31, 2024 — — Additional paid-in capital 1,621,429 1,468,805 Accumulated other comprehensive income (loss) 196 (146 ) Accumulated deficit (912,480 ) (862,804 ) Total shareholders’ equity 709,145 605,855 Total liabilities and shareholders’ equity $ 1,423,291 $ 1,337,479 SMARTSHEET INC. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Nine Months Ended October 31, 2024 2023 Cash flows from operating activities Net income (loss) $ 324 $ (95,655 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Share-based compensation expense 143,124 153,449 Depreciation and amortization 21,121 20,008 Net amortization of premiums (discounts) on investments (6,059 ) (8,746 ) Amortization of deferred commission costs 50,328 38,439 Unrealized foreign currency (gain) loss (577 ) 684 Non-cash operating lease costs 7,513 9,450 Impairment of long-lived assets 3,237 1,448 Other, net 5,495 3,089 Changes in operating assets and liabilities: Accounts receivable 33,770 16,541 Prepaid expenses and other current assets (5,576 ) 1,060 Other long-term assets (1,039 ) (1,401 ) Accounts payable (1,665 ) (997 ) Other accrued liabilities 6,656 4,100 Accrued compensation and related benefits (5,483 ) 2,021 Deferred commissions (58,185 ) (58,705 ) Deferred revenue (9,952 ) 25,439 Other long-term liabilities 262 278 Operating lease liabilities (10,544 ) (12,326 ) Net cash provided by operating activities 172,750 98,176 Cash flows from investing activities Purchases of short-term investments (235,421 ) (375,387 ) Maturities of short-term investments 281,965 281,900 Purchases of property and equipment (1,437 ) (2,097 ) Proceeds from sale of property and equipment 53 28 Capitalized internal-use software development costs (6,549 ) (7,850 ) Net cash provided by (used in) investing activities 38,611 (103,406 ) Cash flows from financing activities Proceeds from exercise of stock options 10,957 1,330 Taxes paid related to net share settlement of restricted stock units (14,896 ) (1,644 ) Proceeds from contributions to Employee Stock Purchase Plan 14,403 15,664 Principal payments of finance leases (141 ) — Repurchases of Class A Common Stock and related costs (50,000 ) — Net cash provided by (used in) financing activities (39,677 ) 15,350 Effects of changes in foreign currency exchange rates on cash, cash equivalents, and restricted cash 379 (248 ) Net increase in cash, cash equivalents, and restricted cash 172,063 9,872 Cash, cash equivalents, and restricted cash at beginning of period 282,442 223,757 Cash, cash equivalents, and restricted cash at end of period $ 454,505 $ 233,629 Supplemental disclosures Cash paid for interest $ 43 $ — Cash paid for income tax 7,655 9,471 Accrued purchases of property and equipment, including internal-use software 1,081 1,264 Share-based compensation expense capitalized in internal-use software development costs 2,355 3,283 Right-of-use assets obtained in exchange for new operating lease liabilities 558 1,684 Right-of-use asset reductions related to operating leases 2,832 4,451 Purchases of fixed assets under finance leases — 693 SMARTSHEET INC. Reconciliation from GAAP to Non-GAAP Financial Measures (unaudited) Reconciliation from GAAP operating loss to non-GAAP operating income and operating margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (dollars in thousands) Loss from operations $ (3,351 ) $ (35,450 ) $ (22,960 ) $ (103,712 ) Add: Share-based compensation expense (1) 46,842 50,170 145,511 154,919 Amortization of acquisition-related intangible assets (2) 2,308 2,701 7,320 8,117 Lease restructuring costs (3) 40 1,934 3,359 2,051 One-time acquisition costs 10,525 — 10,525 — Non-GAAP operating income $ 56,364 $ 19,355 $ 143,755 $ 61,375 Operating margin (1 )% (14 )% (3 )% (15 )% Non-GAAP operating margin 20 % 8 % 17 % 9 % (1) Includes amortization related to share-based compensation that was capitalized in internal-use software and other assets in previous periods. (2) Consists entirely of amortization of intangible assets that were recorded as part of purchase accounting. The amortization of intangible assets related to acquisitions will recur in future periods until such intangible assets have been fully amortized. (3) Includes charges related to the reassessment of our real estate lease portfolio. Reconciliation from GAAP net income (loss) to non-GAAP net income and per share data Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (in thousands, except per share data) Net income (loss) $ 1,324 $ (32,428 ) $ 324 $ (95,655 ) Add: Share-based compensation expense (1) 46,842 50,170 145,511 154,919 Amortization of acquisition-related intangible assets (2) 2,308 2,701 7,320 8,117 Lease restructuring costs (3) 40 2,142 3,359 2,258 One-time acquisition costs 10,525 — 10,525 — Non-GAAP net income $ 61,039 $ 22,585 $ 167,039 $ 69,639 Non-GAAP net income per share, basic $ 0.44 $ 0.17 $ 1.21 $ 0.52 Non-GAAP net income per share, diluted $ 0.43 $ 0.16 $ 1.18 $ 0.51 (1) Includes amortization related to share-based compensation that was capitalized in internal-use software and other assets in previous periods. (2) Consists entirely of amortization of intangible assets that were recorded as part of purchase accounting. The amortization of intangible assets related to acquisitions will recur in future periods until such intangible assets have been fully amortized. (3) Includes charges related to the reassessment of our real estate lease portfolio. SMARTSHEET INC. Reconciliation from GAAP to Non-GAAP Financial Measures (unaudited) Non-GAAP reconciliation from basic to diluted weighted-average shares outstanding Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (in thousands) Weighted-average shares outstanding; basic 139,007 135,189 138,287 133,868 Effect of dilutive securities: Shares subject to outstanding common stock awards 3,661 3,232 3,019 3,653 Weighted-average common shares outstanding; diluted 142,668 138,421 141,306 137,521 Reconciliation from net operating cash flow to free cash flow Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (in thousands) Net cash provided by operating activities $ 63,528 $ 15,146 $ 172,750 $ 98,176 Less: Purchases of property and equipment (414 ) (702 ) (1,437 ) (2,097 ) Capitalized internal-use software development costs (1,232 ) (3,035 ) (6,549 ) (7,850 ) Principal payments of finance leases (89 ) — (141 ) — Free cash flow $ 61,793 $ 11,409 $ 164,623 $ 88,229 View source version on businesswire.com : https://www.businesswire.com/news/home/20241205301940/en/ CONTACT: Smartsheet Inc. Investor Relations Contact Aaron Turner investorrelations@smartsheet.comMedia Contact Lisa Henthorn pr@smartsheet.com KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE DATA ANALYTICS FINANCE ARTIFICIAL INTELLIGENCE DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY FINTECH SOURCE: Smartsheet Copyright Business Wire 2024. PUB: 12/05/2024 04:07 PM/DISC: 12/05/2024 04:06 PM http://www.businesswire.com/news/home/20241205301940/en
Arne Slot was relieved to finally get one over Liverpool ’s “pain in the a**” Real Madrid as he exorcised Jurgen Klopp ’s demons. The Reds secured a memorable 2-0 win against the Spanish giants on Wednesday evening. Alexis Mac Allister and Cody Gakpo scored the goals for the hosts, while Mohamed Salah and Kylian Mbappe also missed penalties. The win leaves Liverpool top of the Champions League table with five wins from as many games. It was also the Reds’ first win against Real Madrid in their last seven meetings. Ex-Liverpool boss Klopp never managed to beat the Spanish side during his time at Anfield, a run that includes two Champions League final defeats. And Slot hailed his side for finally ending that tricky run. Speaking after the full-time whistle, the Dutchman said: "You know how special it is to play against a team that has won the Champions League so many times. They were a pain in the a** for Liverpool for many years too. It is a big week, and it is pleasing to see. "I didn't have schedule in terms of amount of points I wanted. You want to implement the playing style as soon as possible. That is not difficult because it wasn't that different to Jurgen's. It is great to see not only the starters but the players coming on are doing as we expect. “If before the season I had counted points for this point in the season I wouldn't have done as much as we have now. Every time Real Madrid threatened us was from us. I think we can play with more intensity and better with the ball." Away from Slot’s verdict, goalscorer Mac Allister was also left delighted. He hailed his teammates for their displays in what was a tricky game against the Spanish giants. Who was Liverpool's man-of-the-match vs Real Madrid? Share your thoughts in the comments below The midfielder said: "When you play against teams like Real Madrid, it is always nice to score – but the most important thing is that we won it – and I think in a really good way. We dominated the game. We needed a couple of times this guy ( Caoimhin Kelleher ) but thank God that he was there and he really deserved it. "When we say in the dressing room, we know players that come in are important to finish the games, and you know if you want to win trophies, you need them. Everyone does the best for the team." Liverpool face another difficult game this weekend as they come up against Pep Guardiola ’s Manchester City . The Reds could potentially extend their lead at the top of the Premier League table to 11 points with a win. Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. Sky has slashed the price of its Sky Sports, Sky Stream, Sky TV and Netflix bundle in an unbeatable new deal that saves £240 and includes 1,400 live matches across the Premier League, EFL and more.Senators launch bipartisan bills encouraging manufacturers to adopt carbon capture technology
The UK Championship, one of snooker's most prestigious events, witnessed Trump at his scintillating best. Displaying a combination of precision potting, strategic brilliance, and flawless cue action, he outplayed the competition and emerged victorious in a tournament filled with the top players from around the globe. His performance was a testament to his skill, composure under pressure, and sheer determination to succeed on the biggest stage.
Overall, the real estate market is poised for new developments and trends in the coming year, with enhanced policy measures expected to play a key role in shaping the sector. From addressing housing affordability and promoting sustainable development to improving urban planning practices, policymakers are expected to introduce a range of new measures aimed at regulating and stimulating the real estate market. As we look forward to the year ahead, it will be interesting to see how these new policy measures unfold and the impact they will have on the real estate market as a whole.