AI Will Soon Be Deciding What They Want to Do, Society Must Consider “Unplugging It” – Eric SchmidtBillboard announced a shocker today: Taylor Swift tapped in at #2 in the race of greatest pop star of the century and Swifties are over the moon. With competition from the likes of Usher, Drake, Katy Perry, Rihanna, Lady Gaga, and Adele out of the way due to lower rankings on the tally, it was presumed that Taylor Swift and Beyonce would be the finalists duking it out for the top two spots. Taylor Swift tapped in at #2 With the first position yet to be decided, fans are hooked to social media and waiting for the announcement. The anticipation between Taylor and Beyonce has been surfacing all over social media and netizens have been eagerly waiting for the big announcements. She is the only person to ever win album of the year at the Grammys four times. She has the second-most Billboard Hot 100 entries of all time (only Drake has more) and ties with Jay-Z for second-most No. 1 albums on the Billboard 200 (bested only by The Beatles). Taylor's Eras Tour Earlier, during her Toronto show, Taylor received a minutes-long standing ovation after performing Champagne Problems and this left her in tears on stage, reported People. In a video shared by a fan on social media, Swift can be heard telling her fans on stage, "Toronto, we're at the very end of this tour so you doing that, you have no idea how much it means to me and to my ..." "This tour ... I don't even know what I'm saying anymore. That was ... uh, I'm just having a bit of a moment so ..." Swift then paused, and wiped tears from her face as the audience clapped and cheered for her. Get Latest News Live on Times Now along with Breaking News and Top Headlines from Hollywood, Entertainment News and around the world.
- Raising the mid-points of billings, revenue, margins, earnings per share, and free cash flow guidance ranges. - Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year Constant currency change compared to prior fiscal year (In millions, except percentages) $ % % Net Revenue: Americas U.S. $ 579 $ 520 $ 59 11 % * Other Americas 126 120 6 5 % * Total Americas 705 640 65 10 % 11 % EMEA 580 516 64 12 % 13 % APAC 285 258 27 10 % 14 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % 12 % ____________________ * Constant currency data not provided at this level. Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year (In millions, except percentages) $ % AEC $ 751 $ 675 $ 76 11 % AutoCAD and AutoCAD LT 398 372 26 7 % MFG 307 269 38 14 % M&E 83 73 10 14 % Other 31 25 6 24 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Q4 FY25 Guidance Metrics Q4 FY25 (ending January 31, 2025) Revenue (in millions) $1,623 - $1,638 EPS GAAP $1.21 - $1.27 EPS non-GAAP (1) $2.10 - $2.16 ____________________ (1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.17 for the amortization of both purchased intangibles and developed technologies, and $0.05 for acquisition-related costs, partially offset by ($0.18) related to GAAP-only tax charges. Full Year Fiscal 2025 FY25 Guidance Metrics FY25 (ending January 31, 2025) Billings (in millions) $5,900 - $5,980 Up 14% - 15% Revenue (in millions) (1) $6,115 - $6,130 Up approx. 11% GAAP operating margin 21.5% - 22% Non-GAAP operating margin (2) 35.5% - 36% EPS GAAP $4.95 - $5.01 EPS non-GAAP (3) $8.29 - $8.35 Free cash flow (in millions) (4) $1,470 - $1,500 ____________________ (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance range would be approximately 1 percentage point higher. (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, and approximately 1% related to acquisition-related costs. (3) Non-GAAP earnings per diluted share excludes $3.15 related to stock-based compensation expense, $0.61 for the amortization of both purchased intangibles and developed technologies, $0.23 related to acquisition-related costs, and $0.04 related to losses on strategic investments, partially offset by ($0.69) related to GAAP-only tax charges. (4) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved. Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) Net revenue: Subscription $ 1,457 $ 1,314 $ 4,195 $ 3,777 Maintenance 9 12 31 40 Total subscription and maintenance revenue 1,466 1,326 4,226 3,817 Other 104 88 266 211 Total net revenue 1,570 1,414 4,492 4,028 Cost of revenue: Cost of subscription and maintenance revenue 105 94 305 285 Cost of other revenue 19 21 57 62 Amortization of developed technologies 23 12 62 34 Total cost of revenue 147 127 424 381 Gross profit 1,423 1,287 4,068 3,647 Operating expenses: Marketing and sales 525 439 1,474 1,344 Research and development 378 339 1,092 1,021 General and administrative 161 165 477 438 Amortization of purchased intangibles 13 10 37 31 Total operating expenses 1,077 953 3,080 2,834President-elect Donald Trump’s pick to chair the Federal Communications Commission has called out the Walt Disney Company CEO Bob Iger over the way he has run ABC News, saying “Americans no longer trust the national news media to report fully, accurately, and fairly.” Brendan Carr fired off a letter to Iger in the wake of ABC News’ more than $15 million settlement in Trump’s defamation suit against the Disney-owned news outlet. “Dear Mr. Iger, Americans no longer trust the national news media to report fully, accurately, and fairly,” Carr wrote, according to a copy of the December 21 correspondence posted by journalist Brian Stelter. Carr cited a recent Gallup poll showing just 31 percent of Americans gave a great deal or even a fair amount of trust in the news media — down from a high of 70 percent. “ABC’s own conduct has certainly contributed to this erosion in public trust.” ABC News recently agreed to pay $15 million to Trump’s future presidential foundation and museum, as well as an additional $1 million in attorney fees to settle the defamation case. Trump sued ABC News after host George Stephanopoulos repeated claimed on air that Trump was found “liable for rape” during a broadcast earlier this year. The New York jury in question found Trump liable for “sexual abuse” and cleared him of the rape allegation. Carr’s letter to Iger focused primarily on ABC’s on-going negotiations with its affiliate stations, with Carr voicing concern over ABC’s growing power over its local stations, many of which provide local news to viewers. In particular, Carr said ABC”s financial agreements with its affiliates contains a fee structure that ultimately benefits Disney’s streaming services to the detriment of local stations and their ability to provide local news. He noted that Americans still continue to trust local news over national news, and that the imbalance of power will harm the gathering of local news. Trump has hailed Carr as a “warrior for Free Speech,” saying he will take on the big tech censorship regime and champion the rights of ordinary Americans. ABC News showed clear bias against Trump multiple times throughout the recent election cycle. During the presidential debate between Trump and Kamala Harris, moderators David Muir and Linsey Davis repeatedly interrupted Trump with live fact checking, while failing to fact-check Harris even once . One of Muir’s fact checks of Trump even proved to be false . ABC News also oversees The View , whose co-hosts including Joy Behar and Whoopi Goldberg consistently use their platform to hurl insults at Trump and his supporters. Follow David Ng on Twitter @HeyItsDavidNg . Have a tip? Contact me at dng@breitbart.com.Ancelotti says Bellingham is 'fine' after Real Madrid midfielder substituted with apparent leg issue
Philadelphia Eagles quarterback Jalen Hurts left the game against the Washington Commanders on Sunday in the first quarter and was being evaluated for a concussion before being ruled out. Hurts was injured by a tackle from Washington's Frankie Luvu and Bobby Wagner at the end of an 11-yard run to the Washington 21. He briefly appeared about to return but was taken to the locker room. He was later ruled out for the rest of the game. Back-up Kenny Pickett came on and completed the drive with a 4-yard touchdown pass to A.J. Brown. The Eagles (12-2) are in pursuit of the top seed in the NFC, alongside the Detroit Lions and Minnesota Vikings, who are likewise 12-2. The Commanders (9-5) are in contention for an NFC wild-card berth. --Field Level MediaPublished 4:29 pm Tuesday, November 26, 2024 By Data Skrive The college basketball schedule on Wednesday is sure to please. Our computer model has provided picks against the spread for 10 games, including the Cornell Big Red taking on the Syracuse Orange at Imperial Arena. Watch men’s college basketball, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up for a free trial. Bet on this or any men’s college basketball matchup at BetMGM. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .Annual Gift of Giving at Dyker Beach Golf Course brings joy, honors legacy of late co-founder13-year-old cricketer Suryavanshi can become India's latest T20 batting sensation
New York Jets All-Pro defensive tackle Quinnen Williams is inactive for Sunday's home game against the Los Angeles Rams after missing practice all week because of a hamstring injury. His streak will end at 34 consecutive games started and played since his last deactivation for a Dec. 18, 2022, home game against the Detroit Lions, according to the team. He was downgraded from questionable for the game in East Rutherford, N.J. Williams, who turned 27 on Saturday, has started all 14 of New York's games this season and has 35 tackles (eight for loss), 17 quarterback hits and six sacks. The Jets selected Williams with the third overall pick of the 2019 NFL Draft out of Alabama. He has 288 career tackles (52 for loss), 97 QB hits, 39 sacks, one interception, five forced fumbles and three fumble recoveries in 88 games (84 starts). He was voted to the Pro Bowl in 2022 and 2023 and was first-team All-Pro in 2022. The Jets (4-10) inactive list also includes safety Jaylin Simpson, offensive linemen Jake Hanson and Xavier Newman, and cornerbacks Jarrick Bernard-Converse and Michael Carter II. The latter already had been ruled out because of a back injury. The Rams (8-6) announced their inactive players: quarterback Stetson Bennett, wide receiver Tyler Johnson, cornerback Emmanuel Forbes Jr., running back Cody Schrader, and offensive linemen Dylan McMahon and Warren McClendon Jr. --Field Level Media
Minister asks Kabul to rein in anti-Pakistan elements Amir Muqam says Pakistan hosted Afghan refugees for four decades and it was largest population of refugees in world HARIPUR: Federal Minister for Kashmir Affairs and Gilgit-Baltistan Amir Muqam on Saturday asked the Afghan government to rein in those involved in terrorist activities in Pakistan. He urged Afghanistan to stop hosting the anti-Pakistan elements. “It becomes difficult for us to defend them [refugees] in the wake of the anti-Pakistan activities,” he said speaking to Afghan refugees of Haripur camp here. He said that it was the responsibility of Afghanistan to stop the elements crossing into Pakistan for terrorist activities. The federal minister said that the government functionaries took notice of the anti-state activities of Afghan refugees who burned Pakistan’s flag and disrespected its national anthem. “I would ask the Afghans to avoid indulging in anti-Pakistan activities and politics at the cost of their refugee brothers as such behaviour creates difficulties for refugees,” he said. He urged the Afghan government to stop the youth from promoting anti-Pakistan agenda on social media as they were doing disservice to their own community. The minister said that Pakistan had always respected the freedom and solidarity of Afghanistan as it believed that a strong Afghanistan was in the favour of Pakistan and its people. He said that Pakistan had been hosting Afghan refugees for four decades and it was the largest population of refugees in the world and utilized its best efforts for providing them basic facilities. He said the majority of Afghans were doing business in Pakistan. “We respect and are happy that they are doing business and enjoying their stay in Pakistan but the Afghan government must now realize to desist from creating hardships for Afghans living in Pakistan and make sincere plans for their permanent repatriation to their homeland as their actual home is in Afghanistan and they have to return to their country one day,” he said. The federal minister asked the UN organizations to stop discrimination against Pakistan and extend generous financial support for Afghan refugees. About the stay of registered Afghan refugees in Pakistan, he said that Prime Minister Shehbaz Sharif had already announced a one-year extension for them. Commissioner Afghan Refugees Shakeel Muhammad Khan also addressed the participants and said that the government was making all-out efforts for providing basic facilities to the Afghan refugees. He said that Haripur was hosting a population of 77000 refugees with 21 primary schools, six Basic Health Units and other road infrastructure for them while the tube-wells meant for water supply to camps were being solarized.
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Stock market today: Wall Street’s rally stalls as Nasdaq pulls back from its recordOverhauls of 'heritage brands' raise the question: How important are our products to our identities?
STUART, Fla. , Dec. 24, 2024 /PRNewswire/ -- Health In Tech, an Insurtech platform company backed by third-party AI technology, today announced the closing of its initial public offering of 2,300,000 shares of its Class A common stock at a public offering price of $4.00 per share, for gross proceeds of $9,200,000 , before deducting underwriting discounts, commissions, and estimated offering expenses. The Company has granted the underwriter an option, exercisable within 30 days from the date of the final prospectus, to purchase an additional 345,000 shares of Class A common stock from Health In Tech at the initial public offering price, less underwriting discounts and commissions. Assuming such option is fully exercised, the Company may raise a total of approximately US$10,580,000 in gross proceeds from the Offering Health In Tech intends to use the net proceeds from the offering for system enhancements, expansion of service offerings, sales and distribution channels, talent development and retention, working capital, and other general corporate purposes. American Trust Investment Services, Inc. acted as the sole book-running manager for the offering. A registration statement on Form S-1 (File No. 333-281853) relating to the shares was filed with the Securities and Exchange Commission and became effective on December 19, 2024 . This offering was made only by means of a prospectus, forming part of the effective registration statement. A copy of the prospectus relating to the offering can be obtained when available, by contacting American Trust Investment Services, Inc., 230 W. Monroe Street , Suite 300, Chicago, IL 60606, or via E-Mail at ECM@amtruinvest.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Health In Tech Health in Tech ("HIT") is an Insurtech platform company backed by third-party AI technology. We offer a dynamic marketplace designed to create customized healthcare plan solutions while streamlining processes through vertical integration, process simplification, and automation. By eliminating friction and complexities, HIT enhances value propositions for employers and optimizes underwriting, sales, and service workflows for Managing General Underwriters (MGUs), insurance carriers, licensed brokers, and Third-Party Administrators (TPAs). Learn more at healthintech.com . Forward-Looking Statements Regarding Health In Tech Certain statements in this press release are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include estimates or expectations about Health In Tech's possible or assumed operational results, financial condition, business strategies and plans, market opportunities, competitive position, industry environment, and potential growth opportunities. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "design," "target," "aim," "hope," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "project," "potential," "goal," or other words that convey the uncertainty of future events or outcomes. These statements relate to future events or to Health In Tech's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause Health In Tech's actual results, levels of activity, performance, or achievements to be different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Health In Tech's control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Health In Tech's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to Health In Tech's operations, results of operations, growth strategy and liquidity. Investor Contact Investor Relations: ir@healthintech.com View original content to download multimedia: https://www.prnewswire.com/news-releases/health-in-tech-announces-closing-of-initial-public-offering-302338923.html SOURCE Health In TechPictured: Samurai Sword show-off, 24, who posed with his parents' weapon on Snapchat and said 'Where's Tommy Robinson?' before adding 'need to smash up this white lot' - as he's jailed By GEMMA PARRY Published: 19:54, 24 December 2024 | Updated: 19:56, 24 December 2024 e-mail View comments A man who posed with his parents' Samurai Sword in a picture posted on Snapchat with the caption: 'Where's Tommy Robinson ' has been jailed. The image shared by Mohammed Akhtar, 24, was seen by a handful on people on the social media platform before it was deleted in August of this year. Akhtar had also sent messages to various WhatsApp groups where he threatened to 'smash up this white lot' and said he was 'going to sharpen that samurai' to 'take with me later'. He also wrote to 'shout me if it kicks off lol I'm just down the road'. The post came the day after an anti-far right gathering in Bordesley Green which resulted in disorder and arrests amid civil unrest sparked by f alse claims that the suspect in a triple child murder case was an asylum seeker who had arrived in the UK by boat. Three girls - Alice Dasilva Aguiar, nine, Bebe King, six, and Elsie Dot Stancombe, seven - were fatally stabbed at a Southport Taylor Swift-themed holiday club in July. Akhtar, who was described as 'intelligent' and well-educated told Birmingham Crown Court he had been 'showing off' with the sword, which was a blunt ornament given to his parents as a wedding gift 20 years earlier. He said it was a 'silly mistake' and denied that he condoned violence, but admitted sending a communication threatening death of serious harm. Mohammed Akhtar, 24, shared the image online, which was seen by a handful of people Robinson, real name Stephen Yaxley-Lennon, was in Cyprus when the image was posted Akhtar was sentenced to 15 months behind bars at Birmingham Crown Court (pictured) Jonathan Baker, defending, told the court there was 'no prospect of harm' to Mr Robinson, whose real name is Stephen Yaxley-Lennon, as he was in Cyprus at the time of the Snapchat post. ' There are many references that attest to the defendant's positive good character', he said. 'He is a young man, educated, he is from a good family who has a lot going for him and good prospects. 'This was behaviour that was out of character and no doubt in part due to his lack of maturity and lack of consequential thinking.' Prosecutor Claire Harris said: 'Police received information that this defendant has posted on social media a photograph of himself holding a samurai sword with the caption 'where's Tommy Robinson?'. The defendant was identified through further enquiries. 'The defendant's home address was searched on August 11. His parents invited the police to his bedroom and that's where the samurai sword was recovered.' Akhtar, of Washwood Heath Road, Ward End, was sentenced to 15 months behind bars. Judge Paul Farrer KC said: ' The seriousness of the offence and the obvious need for deterrence is such that punishment can only be achieved by immediate custody.' Referencing the disorder and rioting across the country in the summer he added: 'In truth this disorder was nothing to do with exercising the right to lawful protest. 'Instead, it was motivated by intolerance and ignorance. For others it was an excuse to commit acts of violence, intimidation and criminal damage.' Taylor Swift Tommy Robinson Snapchat Share or comment on this article: Pictured: Samurai Sword show-off, 24, who posed with his parents' weapon on Snapchat and said 'Where's Tommy Robinson?' before adding 'need to smash up this white lot' - as he's jailed e-mail Add comment