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Lord Cameron of Chipping Norton revealed on Wednesday that he has changed his mind and now supports a bill to legalise assisted dying, arguing that it will help bring about a “meaningful reduction in human suffering”. Writing in The Times, the former prime minister says that he previously opposed changing the law because he feared that “vulnerable people could be pressurised into hastening their own deaths”. However he now accepts the argument that it is “not about ending life, it is about shortening death”, adding that his concerns have been allayed by safeguards included in the legislation. • David Cameron: Why I’m now backing assisted dying Cameron says: “When we know that there’s no cure, when we know death is imminent, when patients enter aThe normally reliable centre-back passed the ball into his own net in the 26th minute after failing to spot goalkeeper Kasper Schmeichel’s positioning. But a brilliant turn and finish on the hour mark from Daizen Maeda changed the game and ultimately earned the Scottish champions a 1-1 home draw. On the opener, Rodgers said: “Mistakes happen and it was just unfortunate. He’s played that pass a million times and it’s gone back and then we’ve been able to play forward. It was just one of those unfortunate moments in the game that happens. “But he’s a really, really tough character. He’s a great guy, he picked himself up. He was really strong and aggressive again in the game and got on with it and had a real bravery in the second half, because he was the one carrying the ball forward for us to start the attack.” Despite the gift, Brugge were worthy of their lead and Rodgers admitted his side were too passive in their pressing in the opening half. Some tactical tweaks – and the introduction of Paulo Bernardo – helped Celtic dominate after Maeda’s equaliser, although Brugge had a goal disallowed for a marginal offside. “I can only credit the players for the second half, because we had to fight,” Rodgers said. “And we’re still one of those teams that’s really pushing to try and make a mark at this level. So to make the comeback, score the goal, play with that courage, I was so pleased. “You want to win but I’ve been here enough times to have lost a game like that, but we didn’t. We showed a real strong mentality and we kept pushing right to the very end and the players did well. “I thought they showed great courage in the second half because we weren’t at our level in the first half. Sometimes a game like that can get away from you, but it didn’t. “We stayed with it, showed that determination, showed that mentality, never to quit, to keep going. And then we were much, much better, much freer in the second half. “So we’re on eight points, nine to play for. We’re still very much on course to get to where we want to get to and still three games to go.” Rodgers added: “It’s 20 games now and we’ve won 16 and drawn three and lost one, so it shows you the mentality is there, and especially at this level, you need to have that.”
Record Revenues as Global Logistics Network Expands WATERLOO, Ontario and ATLANTA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The Descartes Systems Group Inc. DSG DSGX announced its financial results for its fiscal 2025 third quarter ( Q3FY25 ). All financial results referenced are in United States ( US ) currency and, unless otherwise indicated, are determined in accordance with US Generally Accepted Accounting Principles ( GAAP ). "Our business has grown organically while we've added complementary solutions to our Global Logistics Network by way of acquisition," said Edward J. Ryan, Descartes' CEO. "We listen to our customers about where best to invest to help them meet the many logistics and supply chain challenges they're facing, which contributed to us completing two acquisitions this past quarter. The global trade landscape remains highly uncertain and complex for our customers, especially with potential upcoming changes to tariffs and sanctions and the resulting impact on trade. As always, our goal is to help our customers manage this complexity so that they can continue to focus on their core businesses." Q3FY25 Financial Results As described in more detail below, key financial highlights for Descartes' Q3FY25 included: Revenues of $168.8 million, up 17% from $144.7 million in the third quarter of fiscal 2024 ( Q3FY24 ) and up 3% from $163.4 million in the previous quarter ( Q2FY25 ); Revenues were comprised of services revenues of $149.7 million (89% of total revenues), professional services and other revenues of $15.6 million (9% of total revenues) and license revenues of $3.5 million (2% of total revenues). Services revenues were up 15% from $130.4 million in Q3FY24 and up 2% from $146.2 million in Q2FY25; Cash provided by operating activities of $60.1 million, up 7% from $56.1 million in Q3FY24 and up 73% from $34.7 million in Q2FY25. Cash provided by operating activities was negatively impacted in Q2FY25 by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition; Income from operations of $45.8 million, up 41% from $32.4 million in Q3FY24 and down from $45.9 million in Q2FY25; Net income of $36.6 million, up 38% from $26.6 million in Q3FY24 and up 5% from $34.7 million in Q2FY25. Net income as a percentage of revenue was 22%, compared to 18% in Q3FY24 and 21% in Q2FY25; Earnings per share on a diluted basis of $0.42, up 35% from $0.31 in Q3FY24 and up 5% from $0.40 in Q2FY25, respectively; and Adjusted EBITDA of $72.1 million, up 14% from $63.5 million in Q3FY24 and up 2% from $70.6 million in Q2FY25. Adjusted EBITDA as a percentage of revenues was 43%, compared to 44% and 43% in Q3FY24 and Q2FY25, respectively. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures provided as a complement to financial results presented in accordance with GAAP. We define Adjusted EBITDA as earnings before interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). These items are considered by management to be outside Descartes' ongoing operational results. We define Adjusted EBITDA as a percentage of revenues as the quotient, expressed as a percentage, from dividing Adjusted EBITDA for a period by revenues for the corresponding period. A reconciliation of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income determined in accordance with GAAP is provided later in this release. The following table summarizes Descartes' results in the categories specified below over the past 5 fiscal quarters (unaudited; dollar amounts, other than per share amounts, in millions): Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Revenues 168.8 163.4 151.3 148.2 144.7 Services revenues 149.7 146.2 137.8 135.7 130.4 Gross margin 74 % 75% 77% 76% 76% Cash provided by operating activities* 60.1 34.7 63.7 50.8 56.1 Income from operations 45.8 45.9 42.4 37.0 32.4 Net income 36.6 34.7 34.7 31.8 26.6 Net income as a % of revenues 22 % 21% 23% 21% 18% Earnings per diluted share 0.42 0.40 0.40 0.37 0.31 Adjusted EBITDA 72.1 70.6 67.0 65.7 63.5 Adjusted EBITDA as a % of revenues 43 % 43% 44% 44% 44% (*) Q2FY25 cash provided by operating activities was negatively impacted by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition Year-to-Date Financial Results As described in more detail below, key financial highlights for Descartes' nine-month period ended October 31, 2024 ( 9MFY25 ) included: Revenues of $483.5 million, up 14% from $424.7 million in the same period a year ago ( 9MFY24 ); Revenues were comprised of services revenues of $433.7 million (90% of total revenues), professional services and other revenues of $44.4 million (9% of total revenues) and license revenues of $5.4 million (1% of total revenues). Services revenues were up 13% from $385.3 million in 9MFY24; Cash provided by operating activities of $158.5 million, up 1% from $156.9 million in 9MFY24. Cash provided by operating activities was negatively impacted in 9MFY25 by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition; Income from operations of $134.0 million, up 27% from $105.8 million in 9MFY24; Net income of $105.9 million, up 26% from $84.1 million in 9MFY24. Net income as a percentage of revenues was 22%, compared to 20% in 9MFY24; Earnings per share on a diluted basis of $1.21, up 25% from $0.97 in 9MFY24; and Adjusted EBITDA of $209.7 million, up 15% from $181.7 million in 9MFY24. Adjusted EBITDA as a percentage of revenues was 43%, consistent with 9MFY24. The following table summarizes Descartes' results in the categories specified below over 9MFY25 and 9MFY24 (unaudited, dollar amounts in millions): 9MFY25 9MFY24 Revenues 483.5 424.7 Services revenues 433.7 385.3 Gross margin 75 % 76% Cash provided by operating activities * 158.5 156.9 Income from operations 134.0 105.8 Net income 105.9 84.1 Net income as a % of revenues 22 % 20% Earnings per diluted share 1.21 0.97 Adjusted EBITDA 209.7 181.7 Adjusted EBITDA as a % of revenues 43 % 43% (*) 9MFY25 cash provided by operating activities was negatively impacted by the payment of $25.0 million in contingent acquisition consideration for previously completed deals, which was not accrued for at the time of acquisition Cash Position At October 31, 2024, Descartes had $181.3 million in cash. Cash decreased by $71.4 million in Q3FY25 and $139.7 million in 9MFY25. The table set forth below provides a summary of cash flows for Q3FY25 and 9MFY25 in millions of dollars: Q3FY25 9MFY25 Cash provided by operating activities 60.1 158.5 Additions to property and equipment (1.3 ) (4.7 ) Acquisitions of subsidiaries, net of cash acquired (132.8 ) (286.5 ) Issuances of common shares, net of issuance costs 2.4 9.9 Payment of withholding taxes on net share settlements - (6.7 ) Payment of contingent consideration - (9.2 ) Effect of foreign exchange rate on cash 0.2 (1.0 ) Net change in cash (71.4 ) (139.7 ) Cash, beginning of period 252.7 321.0 Cash, end of period 181.3 181.3 Acquisition of MyCarrierPortal On September 17, 2024, Descartes acquired all of the shares of Assure Assist, Inc., doing business as MyCarrierPortal ("MCP"), a leading provider of carrier onboarding and risk monitoring solutions for the trucking industry. The purchase price for the acquisition was approximately $22.5 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $6.0 million based on MCP achieving revenue-based targets over the first two years post-acquisition. Acquisition of Sellercloud On October 11, 2024, Descartes acquired all of the shares of Sellercloud LLC and certain assets of Sellercloud Europe Ltd. (collectively referred to as "Sellercloud"), a leading provider of omnichannel ecommerce solutions. The purchase price for the acquisition was approximately $110.2 million, net of cash acquired, which was funded from cash on hand, plus potential performance-based consideration of up to $20.0 million based on Sellercloud achieving revenue-based targets over the first two years post-acquisition. Conference Call Members of Descartes' executive management team will host a conference call to discuss the company's financial results at 5:30 p.m. ET on Tuesday, December 3, 2024. Designated numbers are +1 289 514 5100 and +1 800 717 1738 for Toll-Free in North America, using conference ID 07584. The company will simultaneously conduct an audio webcast on the Descartes website at www.descartes.com/descartes/investor-relations. Phone conference dial-in or webcast login is required approximately 10 minutes beforehand. Replays of the conference call will be available until December 10, 2024, by dialing +1 289 819 1325 or Toll-Free for North America using +1 888 660 6264 with Playback Passcode: 07584#. An archived replay of the webcast will be available at www.descartes.com/descartes/investor-relations. About Descartes Descartes DSGX DSG is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com , and connect with us on LinkedIn and X (Twitter ) . Descartes Investor Contact Laurie McCauley (519) 746-2969 investor@descartes.com Cautionary Statement Regarding Forward-Looking Statements This release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements") that relates to Descartes' expectations concerning future revenues and earnings, and our projections for any future reductions in expenses or growth in margins and generation of cash; our assessment of the potential impact of geopolitical events, such as the ongoing conflict between Russia and Ukraine (the "Russia-Ukraine Conflict"), and between Israel and Hamas ("Israel-Hamas Conflict"), or other potentially catastrophic events, on our business, results of operations and financial condition; continued growth and acquisitions including our assessment of any increased opportunity for our products and services as a result of trends in the logistics and supply chain industries; rate of profitable growth and Adjusted EBITDA margin operating range; demand for Descartes' solutions; growth of Descartes' Global Logistics Network ("GLN"); customer buying patterns; customer expectations of Descartes; development of the GLN and the benefits thereof to customers; and other matters. These forward-looking statements are based on certain assumptions including the following: global shipment volumes continuing at levels generally consistent with those experienced historically; the Russia-Ukraine Conflict and Israel-Hamas Conflict not having a material negative impact on shipment volumes or on the demand for the products and services of Descartes by its customers and the ability of those customers to continue to pay for those products and services; countries continuing to implement and enforce existing and additional customs and security regulations relating to the provision of electronic information for imports and exports; countries continuing to implement and enforce existing and additional trade restrictions and sanctioned party lists with respect to doing business with certain countries, organizations, entities and individuals; Descartes' continued operation of a secure and reliable business network; the stability of general economic and market conditions, currency exchange rates, and interest rates; equity and debt markets continuing to provide Descartes with access to capital; Descartes' continued ability to identify and source attractive and executable business combination opportunities; Descartes' ability to develop solutions that keep pace with the continuing changes in technology, and our continued compliance with third party intellectual property rights. These assumptions may prove to be inaccurate. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Descartes, or developments in Descartes' business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, Descartes' ability to successfully identify and execute on acquisitions and to integrate acquired businesses and assets, and to predict expenses associated with and revenues from acquisitions; the impact of network failures, information security breaches or other cyber-security threats; disruptions in the movement of freight and a decline in shipment volumes including as a result of contagious illness outbreaks; a deterioration of general economic conditions or instability in the financial markets accompanied by a decrease in spending by our customers; the ability to attract and retain key personnel and the ability to manage the departure of key personnel and the transition of our executive management team; changes in trade or transportation regulations that currently require customers to use services such as those offered by Descartes; changes in customer behaviour and expectations; Descartes' ability to successfully design and develop enhancements to our products and solutions; departures of key customers; the impact of foreign currency exchange rates; Descartes' ability to retain or obtain sufficient capital in addition to its debt facility to execute on its business strategy, including its acquisition strategy; disruptions in the movement of freight; the potential for future goodwill or intangible asset impairment as a result of other-than-temporary decreases in Descartes' market capitalization; and other factors and assumptions discussed in the section entitled, "Certain Factors That May Affect Future Results" in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada, including Descartes' most recently filed Management's Discussion and Analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. Reconciliation of Non-GAAP Financial Measures - Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with GAAP. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with GAAP. We believe that current shareholders and potential investors in our company use non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues, in making investment decisions about our company and measuring our operational results. The term "Adjusted EBITDA" refers to a financial measure that we define as earnings before certain charges that management considers to be non-operating expenses and which consist of interest, taxes, depreciation, amortization, stock-based compensation (for which we include related fees and taxes) and other charges (for which we include restructuring charges, acquisition-related expenses, and contingent consideration incurred due to better-than-expected performance from acquisitions). Adjusted EBITDA as a percentage of revenues divides Adjusted EBITDA for a period by the revenues for the corresponding period and expresses the quotient as a percentage. Management considers these non-operating expenses to be outside the scope of Descartes' ongoing operations and the related expenses are not used by management to measure operations. Accordingly, these expenses are excluded from Adjusted EBITDA, which we reference to both measure our operations and as a basis of comparison of our operations from period-to-period. Management believes that investors and financial analysts measure our business on the same basis, and we are providing the Adjusted EBITDA financial metric to assist in this evaluation and to provide a higher level of transparency into how we measure our own business. However, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues are non-GAAP financial measures and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues should not be construed as a substitute for net income determined in accordance with GAAP or other non-GAAP measures that may be used by other companies, such as EBITDA. The use of Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues does have limitations. In particular, we have completed seven acquisitions since the beginning of fiscal 2024 and may complete additional acquisitions in the future that will result in acquisition-related expenses and restructuring charges. As these acquisition-related expenses and restructuring charges may continue as we pursue our consolidation strategy, some investors may consider these charges and expenses as a recurring part of operations rather than expenses that are not part of operations. The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for Q3FY25, Q2FY25, Q1FY25, Q4FY24, and Q3FY24, which we believe is the most directly comparable GAAP measure. Q3FY25 Q2FY25 Q1FY25 Q4FY24 Q3FY24 Net income , as reported on Consolidated Statements of Operations 36.6 34.7 34.7 31.8 26.6 Adjustments to reconcile to Adjusted EBITDA: Interest expense 0.2 0.2 0.3 0.3 0.3 Investment income (2.9 ) (2.7) (4.1) (3.4) (2.7) Income tax expense 11.9 13.6 11.5 8.3 8.2 Depreciation expense 1.4 1.4 1.4 1.4 1.5 Amortization of intangible assets 17.5 17.4 15.0 15.1 15.3 Stock-based compensation and related taxes 5.6 5.8 4.3 4.7 4.6 Other charges 1.8 0.2 3.9 7.5 9.7 Adjusted EBITDA 72.1 70.6 67.0 65.7 63.5 Revenues 168.8 163.4 151.3 148.2 144.7 Net income as % of revenues 22 % 21% 23% 21% 18% Adjusted EBITDA as % of revenues 43 % 43% 44% 44% 44% The table below reconciles Adjusted EBITDA and Adjusted EBITDA as a percentage of revenues to net income reported in our unaudited Consolidated Statements of Operations for 9MFY25 and 9MFY24, which we believe is the most directly comparable GAAP measure. (US dollars in millions) 9MFY25 9MFY24 Net income , as reported on Consolidated Statements of Operations 105.9 84.1 Adjustments to reconcile to Adjusted EBITDA: Interest expense 0.8 1.0 Investment income (9.7 ) (6.3) Income tax expense 37.0 27.0 Depreciation expense 4.1 4.1 Amortization of intangible assets 50.0 45.4 Stock-based compensation and related taxes 15.7 12.4 Other charges 5.9 14.0 Adjusted EBITDA 209.7 181.7 Revenues 483.5 424.7 Net income as % of revenues 22 % 20% Adjusted EBITDA as % of revenues 43 % 43% The Descartes Systems Group Inc. Condensed Consolidated Balance Sheets (US dollars in thousands; US GAAP; Unaudited) October 31, January 31, 2024 2024 ASSETS CURRENT ASSETS Cash 181,282 320,952 Accounts receivable (net) Trade 54,326 51,569 Other 17,268 12,193 Prepaid expenses and other 40,743 33,468 293,619 418,182 OTHER LONG-TERM ASSETS 24,560 24,737 PROPERTY AND EQUIPMENT, NET 12,048 11,552 RIGHT-OF-USE ASSETS 6,576 6,257 DEFERRED INCOME TAXES 3,184 2,097 INTANGIBLE ASSETS, NET 343,811 251,047 GOODWILL 935,440 760,413 1,619,238 1,474,285 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable 20,599 17,484 Accrued liabilities 78,205 91,824 Lease obligations 2,821 3,075 Income taxes payable 16,108 6,734 Deferred revenue 101,140 84,513 218,873 203,630 LEASE OBLIGATIONS 4,121 3,903 DEFERRED REVENUE 1,215 1,464 INCOME TAXES PAYABLE 4,949 6,153 DEFERRED INCOME TAXES 33,817 21,101 262,975 236,251 SHAREHOLDERS' EQUITY Common shares – unlimited shares authorized; Shares issued and outstanding totaled 85,539,437 at October 31, 2024 (January 31, 2024 – 85,183,455) 564,793 551,164 Additional paid-in capital 498,787 494,701 Accumulated other comprehensive income (loss) (33,978 ) (28,586) Retained earnings 326,661 220,755 1,356,263 1,238,034 1,619,238 1,474,285 The Descartes Systems Group Inc. Consolidated Statements of Operations (US dollars in thousands, except per share and weighted average share amounts; US GAAP; Unaudited) Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2024 2023 2024 2023 REVENUES 168,756 144,698 483,529 424,705 COST OF REVENUES 43,154 34,325 119,115 102,184 GROSS MARGIN 125,602 110,373 364,414 322,521 EXPENSES Sales and marketing 19,134 17,209 55,636 51,583 Research and development 24,472 21,118 70,572 62,923 General and administrative 16,858 14,712 48,328 42,747 Other charges 1,830 9,679 5,898 14,067 Amortization of intangible assets 17,519 15,250 49,962 45,408 79,813 77,968 230,396 216,728 INCOME FROM OPERATIONS 45,789 32,405 134,018 105,793 INTEREST EXPENSE (244 ) (343 ) (760 ) (1,020 ) INVESTMENT INCOME 2,883 2,717 9,657 6,287 INCOME BEFORE INCOME TAXES 48,428 34,779 142,915 111,060 INCOME TAX EXPENSE (RECOVERY) Current 18,310 10,334 42,105 30,207 Deferred (6,440 ) (2,157 ) (5,096 ) (3,218 ) 11,870 8,177 37,009 26,989 NET INCOME 36,558 26,602 105,906 84,071 EARNINGS PER SHARE Basic 0.43 0.31 1.24 0.99 Diluted 0.42 0.31 1.21 0.97 WEIGHTED AVERAGE SHARES OUTSTANDING (thousands) Basic 85,501 85,101 85,403 85,045 Diluted 87,342 86,791 87,231 86,772 The Descartes Systems Group Inc. Condensed Consolidated Statements of Cash Flows (US dollars in thousands; US GAAP; Unaudited) Three Months Ended Nine Months Ended October 31, October 31, October 31, October 31, 2024 2023 2024 2023 OPERATING ACTIVITIES Net income 36,558 26,602 105,906 84,071 Adjustments to reconcile net income to cash provided by operating activities: Depreciation 1,393 1,452 4,137 4,080 Amortization of intangible assets 17,519 15,250 49,962 45,408 Stock-based compensation expense 5,298 4,513 14,575 11,883 Other non-cash operating activities (42 ) (15 ) (1 ) 57 Deferred tax expense (recovery) (6,440 ) (2,157 ) (5,096 ) (3,218 ) Changes in operating assets and liabilities 5,860 10,405 (10,936 ) 14,635 Cash provided by operating activities 60,146 56,050 158,547 156,916 INVESTING ACTIVITIES Additions to property and equipment (1,313 ) (1,462 ) (4,653 ) (4,845 ) Acquisition of subsidiaries, net of cash acquired (132,753 ) - (286,468 ) (142,700 ) Cash used in investing activities (134,066 ) (1,462 ) (291,121 ) (147,545 ) FINANCING ACTIVITIES Payment of debt issuance costs (15 ) - (53 ) (39 ) Issuance of common shares for cash, net of issuance costs 2,373 447 9,887 6,468 Payment of withholding taxes on net share settlements - - (6,745 ) (4,886 ) Payment of contingent consideration - - (9,223 ) (6,320 ) Cash provided by (used in) financing activities 2,358 447 (6,134 ) (4,777 ) Effect of foreign exchange rate changes on cash 191 (2,835 ) (962 ) (1,370 ) (Decrease) increase in cash (71,371 ) 52,200 (139,670 ) 3,224 Cash, beginning of period 252,653 227,409 320,952 276,385 Cash, end of period 181,282 279,609 181,282 279,609 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Marvell Technology, Inc. Declares Quarterly Dividend Payment
Shedeur Sanders gifts $200,000 car that 'practically floats down the road' to Colorado teammate
SANTA CLARA, Calif. , Dec. 13, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), today announced a quarterly dividend of $0.06 per share of common stock payable on January 30, 2025 to shareholders of record as of January 10, 2025 . About Marvell To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better. Marvell® and the Marvell logo are registered trademarks of Marvell and/or its affiliates. For further information, contact: Ashish Saran Senior Vice President, Investor Relations 408-222-0777 ir@marvell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/marvell-technology-inc-declares-quarterly-dividend-payment-302331636.html SOURCE MarvellOTTAWA — NDP Leader Jagmeet Singh says his party is ready to introduce motions as early as today that would help the Liberals pass legislation to create their promised GST holiday but only if they separate it from their parallel promise to send $250 cheques to working Canadians. Singh said his party would open the procedural "gates" including motions to extend the sitting hours of the House of Commons to debate and pass the legislation in time for it take effect as promised on Dec. 14. Last week, the Liberals brought forward a plan to pause the GST on items like premade grocery items, beer and wine, toys and other holiday staples. The pause would last for two months. Singh says the NDP supports this idea, but oppose the associated $250 working Canadians benefit that is supposed to be mailed in the spring to anyone who earned an income up to $150,000 last year. Singh wants the benefit expanded to include non-working seniors and people who rely on disability benefits who did not have a working income in 2023. The Liberals have put the GST and benefit cheque bill on notice in the House of Commons but have been unable to introduce it because of an ongoing filibuster by the Conservatives over an unrelated matter of privilege. A Conservative motion demanding the government turn over unredacted documents to the RCMP on a green technology fund has been debated since late September, preventing any bills or other motions from being introduced or debated. The Conservatives insist that debate will continue until the documents are given to the RCMP or the NDP join them and the Bloc Québécois to vote non confidence in the government. At least two parties would need to support a motion to end or pause that debate. Prime Minister Justin Trudeau said last week that both the GST holiday and the $250 cheques are aimed at helping people struggling with the cost of living. The rebate as planned would be issued to an estimated 18 million Canadians in the spring and cost around $4.7 billion. The government has issued notice of the legislation but hasn't introduced it in the House yet. It also has put on notice a motion calling for debate on the bill, when it is introduced, to be limited to one 10-minute speech per party, and undergo just one vote for all the required stages of debate. Some Liberal MPs said Wednesday they think their government should consider expanding the eligibility for the benefit cheques. After the Liberal caucus meeting Seniors Minister Steven MacKinnon said the government has created a number of benefits to help low-income seniors. But Milton MP Adam van Koeverden said he wants to see more ambition in helping seniors and Thunder Bay-Rainy River MP Marcus Powlowski said if the government can afford to include seniors in the payments it absolutely should. The Bloc Québécois is also calling on the government to offer the rebate to seniors who are fully retired. Conservative Leader Pierre Poilievre called the measure a "tiny, two month tax trick" and says if Trudeau cared about affordability he'd get rid of the carbon tax. This report by The Canadian Press was first published Nov. 27, 2024. David Baxter, The Canadian Press"We are excited to move our headquarters to Cary, North Carolina , which represents a significant milestone in Heron's journey," said Craig Collard , Chief Executive Officer of Heron. "This move will not only strengthen our ability to support our employees by centralizing our operations and resources, but also positions us in an excellent location from which we can continue making strategic partnerships as we growing our existing portfolio focused on improving the lives of patients in the acute and oncology care settings. This is an exciting chapter for Heron, and we look forward to the continued success and partnerships that lie ahead." The new address for Heron's corporate headquarters is 100 Regency Forest Drive, Suite 300, Cary, NC 27518. About Heron Therapeutics, Inc. Heron Therapeutics, Inc. is a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care. Our advanced science, patented technologies, and innovative approach to drug discovery and development have allowed us to create and commercialize a portfolio of products that aim to advance the standard-of-care for acute care and oncology patients. For more information, visit www.herontx.com . Forward-looking Statements This news release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Heron cautions readers that forward-looking statements are based on management's expectations and assumptions as of the date of this news release and are subject to certain risks and uncertainties that could cause actual results to differ materially. Therefore, you should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, and in our other reports filed with the Securities and Exchange Commission, including under the caption "Risk Factors." Forward-looking statements reflect our analysis only on their stated date, and Heron takes no obligation to update or revise these statements except as may be required by law. Investor Relations and Media Contact: Ira Duarte Executive Vice President, Chief Financial Officer Heron Therapeutics, Inc. iduarte@herontx.com 858-251-4400 View original content to download multimedia: https://www.prnewswire.com/news-releases/heron-therapeutics-announces-corporate-headquarters-relocation-to-cary-north-carolina-302338528.html SOURCE Heron Therapeutics, Inc.
Jayden Daniels and Michael Penix Jr. trained and went through the NFL draft process together on the way to becoming two of the five quarterbacks taken in the top 10. After going off the board earlier with the second pick by the Washington Commanders, Daniels has been their starter all season and one of football's breakout stars . Penix, taken eighth in a move coach Raheem Morris joked “shocked the world," waited behind Kirk Cousins until usurping the veteran and making his first pro start last week. On Sunday night, they'll face off in the league's first prime-time showdown of rookie QBs selected in the first round, and the spotlight is bright with significant playoff implications at stake. “I'm happy for him — he waited his time,” Daniels said of Penix. “He's a phenomenal player in my eyes, and I'm excited to be able to match up against him.” Daniels and the Commanders (10-5) are in the playoffs with a win. They might already be in before kickoff if Tampa Bay loses at home to Carolina, though the Buccaneers are 8-point favorites on BetMGM Sportsbook. Washington is favored by 4 against the Falcons (8-7), who are vying with the Bucs for the NFC South title and a home playoff game and also in contention with the Commanders and others for the conference's wild-card spots. “The reality is that you fight, you fight, you fight and you put yourself in a position to go out there and win your division,” Penix said. "You put yourself in a chance to get yourself to qualify for extra play. We’re right in the mix of doing that, and we’ve got to go do it and finish.” Daniels, who threw five touchdown passes to beat Philadelphia last week and end the Eagles’ winning streak at 10 games, is the prohibitive favorite to win AP Offensive Rookie of the Year honors. Penix completed 18 of 27 passes for 202 yards in a rout of the New York Giants that included two touchdowns by Atlanta's defense and two on the ground from running back Bijan Robinson. “I was really pleased with his composure, his poise, his ability to click through progressions,” Morris said. "Realistically, it was a pretty clean game at the quarterback position. I’m very pleased with what he did and how he did it and the support that he had around him.” Coaching connection Washington's Dan Quinn is facing the Falcons as a head coach for the first time since they fired him in 2020. He was replaced then on an interim basis by Morris, who was an assistant on his staff in Atlanta the entire time Quinn was in charge, including the run to the Super Bowl in the 2016 season. “It’s always fun to play against your friends, your confidants, your mentors — whatever you want to look at it as — that we’ve been able to grow up with throughout this whole process,” said Morris, who was an assistant in Washington from 2012-14 under Mike Shanahan and interviewed for the Commanders job last winter. “Dan coaching me in college," Morris added, "and then having a chance to work together and then having a chance to really follow the same path to the National Football League and then to now being in a fortunate position to be head coaches in this awesome league and having a chance to compete against each other at a very high level with high stakes on the line in prime time and all of those things — I just enjoy those moments of being able to go against guys that you care about.” Morris said conversations from their close working relationship, which dates to their time together at Hofstra, are on a break right now. “Obviously you swap texts on normal weeks,” Morris said. “I won’t talk to him this week. I’ll ban him. I’ll block him on the phone.” More zip leads to more drops Penix's results would have been even more impressive if not for some drops by receivers. Ray-Ray McCloud and Drake London had miscues on Atlanta’s opening drive. Tight end Kyle Pitts bobbled a pass later that led to Penix's interception. Serving as scout-team QB while Cousins was the starter , Penix had little practice time with the first-string offense before last week. As a left-hander, Penix gives receivers a different look, but perhaps the biggest adjustment was the added zip on his passes when compared with Cousins. “We kind of talked about that,” Morris said. “We figured that would happen. ... We talked about the reps with these guys, not having as many. So, things like that are going to happen. But I do like the fact that we’re able to keep playing and pushing and watch the guys get better and better as we went. Fuller strength The Commanders are expected to get two-time Pro Bowl defensive tackle Jonathan Allen back after surgery in October to repair a torn pectoral muscle initially looked to be season-ending . “We know the caliber of Jon and what he can bring,” Quinn said. “He’s strong. He’s tough. So when that does happen, that’ll be something that will definitely bring energy to our defense.” Allen had 15 tackles and two sacks in five-plus games before getting injured at Baltimore on Oct. 13. Sacks on the rise After ranking last in the league with 10 sacks through the first 11 games, Atlanta’s long-struggling pass rush has enjoyed a dramatic surge. The Falcons have at least three in four consecutive games, the longest active streak in the league, with 16 total over this stretch. Arnold Ebiketie recorded his fifth sack and recovered a fumble against the Giants, and Kaden Elliss had a strip sack. Elliss also has five sacks and has dropped opposing QBs in four consecutive games: the longest streak by a Falcons defender since Patrick Kerney's five in a row in 2001. AP Sports Writer Charles Odum contributed. AP NFL: https://apnews.com/hub/NFLAP Sports SummaryBrief at 5:03 p.m. ESTWhat’s Driving Demand for Cardano? Crypto Expert Predicts Shocking Announcement for US Cryptocurrencies
takes on the next trial with McFly's Danny Jones on Friday's after Ant admitted his reaction to Thursday's trial was "unprofessional". Tense scenes reveal the pair are given electric shocks while taking part in the High Street of Horrors trial. Discussing Radio 1 DJ McCullough facing his fourth Bushtucker trial this week, held his hands up and admitted he couldn't hide his annoyance after Thursday's trial. His words were prompted by social media conversation about Ant looking "furious" with McCullough. He said on I'm a Celebrity's spin off show Unpacked: "I told you not to talk to me about it Sam [Thompson, the host of Unpacked]. My annoyance came across on screen and I was quite unprofessional and I'm not happy about it. You get to the point where you're like what are you doing?" Thompson was very amused as he added: "The memes online are quite good." Ant had said he would like to see McCullough raise his game when taking part in the trial with Jones. Dec Donnelly playfully mocked his partner. "I think you hid it quite well Ant," he then deliberately looked to the side to show he was not being 100% truthful. I'm a Celebrity is on every night Monday to Friday on ITV1 and available to stream on ITVX. The 2024 campmates have been in the jungle for nearly a week now as the show kicked off on Sunday 17 November. This year, the late arrivals Maura Higgins and Rev Richard Coles have already headed into camp — although they are staying in a separate site at the moment. Usually I'm a Celebrity is on our screens for three weeks, taking us closer to Christmas. We can't wait to see how this series unfolds! 15 mins until Danny and Dean face the High Street of Horrors! Will their shopping bags be filled with Stars or will they return to Camp with an empty trolley? 🛒 Watch at 9pm on ITV1, STV and ITVX — I'm A Celebrity... (@imacelebrity) I'm a Celebrity's late arrivals have already got everyone at home very excited about the 2024 series. Couldn’t think of two better people to be put together — I'm A Celebrity... (@imacelebrity) Thursday night proved to be chaotic in the jungle as we saw: Maura Higgins and Richard Coles enter a separate camp and be set a secret mission. They must lie telling the other stars they are living in a hell hole when in fact they are living in luxury. Dean McCullough said I'm a Celebrity... Get Me Out Of Here for a second time. He got four stars but got a heroes welcome with the celebrities giving him a bath. McCullough was voted to do the next Bushtucker trial alongside McFly's Danny Jones. They will take on the High Street of Horrors with Ant and Dec watching on. has had a tough first week in the camp, finding himself taking on more than his fair share of trials. The BBC Radio 1 DJ has been targeted by viewers in nearly every Bushtucker Trial vote so far, surpassing early favourite choice GK Barry as the campmate most of the fans want to see try to win stars for meals. McCullough's screams, tendency to quit trials, and could all have contributed to viewers voting for him, but the radio presenter has been left looking shocked and appalled at his nominations. Meanwhile, even host Ant McPartlin struggled to disguise his frustration at McCullough . No celebrity signs up to go into camp thinking it'll be a breeze, but some have a much tougher time on the ITV show than others. These famous campmates found I'm A Celebrity the stuff of nightmares as they were voted into the Bushtucker Trials time and again by both viewers and their co-stars. Whether it was because of their hilarious reactions to the task horrors, or as punishment for how they treated their campmates, these unlucky contestants took on more than their fair share of challenges — will McCullough join this hall of fame? have been punished after breaking the rules this week. boasted about and secretly brought in a packet of salt to flavour the bland rice and beans. Smug Ant and Dec warned the viewers at home that contraband equals consequences. After the dingo dollar challenge, five cupcakes were confiscated meaning the celebrities had less treats. The chucking Geordie hosts enjoyed their sweet, sweet revenge. Tense scenes show Danny Jones and Dean McCullough getting "electrifying" shocks in Friday's episode. McFly's Jones cries out when he crawls through a bug-infested space with lots of wires dangling down. Ant explains what is happening: "Yeah that's why it's the electrifying electrical store - you might get a few shocks in here!" The musician screams out so his co-star McCullough tries to help him by leaning in but then gets a shock of his own — causing him to runs away. "It's not worth it, it's not worth it," he protests. Ant and Dec are very amused, giggling away. ‘It’s not worth it!’ ⚡️ Danny and Dean’s shocking trip to the High Street Of Horrors has in stitches! Will the boys find any Stars among the bargains? returns tonight at 9pm on ITV1, STV and ITVX. — I'm A Celebrity... (@imacelebrity) Forget 's reported £1.5m signing, I think and Rev ' late arrival is one of bosses' best decision in years. Ant and Dec's brutal jokes about and..... have been good fun (and we all know Vardy is 100% watching and voting for Rooney to do the Bushtucker trials thanks to her ). Yet is totally genius. Their double act will go down as one of the funniest moments in I'm a Celebrity history. I feel both Higgins and Coles are going to be earning every penny ITV bosses have paid them. Danny Jones and Dean McCullough take on the Highstreet of Horrors. How will they fare in Friday's Bushtucker trial? The McFly star has already proved he's incredibly brave, facing his fear of snakes head on in the first bushtucker trial on day one of camp. Albeit screaming, at the end of the trial but he managed to get all five stars. Meanwhile, McCullough has called out I'm a Celebrity... Get Me Out Of Here during two of his trials. The first time because of sand and the second time because of fishguts (which definitely annoyed Ant!). On Thursday, the radio star got four stars. However, on Wednesday he got zero while working with GK Barry and during his first trial he got two stars. Take a sneak look at what is in store for tonight's trial. ‘It’s not worth it!’ ⚡️ Danny and Dean’s shocking trip to the High Street Of Horrors has in stitches! Will the boys find any Stars among the bargains? returns tonight at 9pm on ITV1, STV and ITVX. — I'm A Celebrity... (@imacelebrity) Ant McPartlin held his hands up as he didn't mind admitting he was "unprofessional" after viewers noticed he looked "furious" when Dean McCullough was struggling. Discussing Radio 1 DJ McCullough facing his fourth Bushtucker trial this week, Ant admitted he couldn't hide his annoyance after Thursday's trial. Playfully he said on I'm a Celebrity's spin off show Unpacked: "I told you not to talk to me about it Sam [Thompson, the host of Unpacked]. "My annoyance came across on screen and I was quite unprofessional and I'm not happy about it. You get to the point where you're like what are you doing?" Thompson was very amused as he added: "The memes online are quite good. Ant had said he would like to see McCullough raise his game when taking part in the trial with Jones. Dec Donnelly playfully mocked his partner. "I think you hid it quite well Ant," he then deliberately looked to the side to show he was not being 100% truthful. Ant admitted: "You get to the point where you are like, what are you doing?" Joel Dommett pointed out that it got to the point where McCullough had asked him if he had been to Benidorm and Ant bluntly said "no". "I'm not making small talk with you anymore!" Ant said of the moment, wagging his finger playfully. "I'll be kind to him today. I'm going to try good cop today." Read more
Pittsburgh Steelers star edge rusher, TJ Watt was hoping for a much better outing against the Cleveland Browns than he gave in Week 12. The Steelers lost the game 24-19 , and it was a disappointing showing for most of the game. Despite a late rally that gave them a 19-18 lead, Pittsburgh couldn’t stop Cleveland when it mattered most, allowing the Browns to drive down the field for the game-winning score. The loss added to the frustration of a performance that lacked consistency from the Steelers' defense, including Watt. Throughout the game, Browns star defensive player Myles Garrett was dominating. Garrett finished with three sacks and a forced fumble, consistently disrupting Russell Wilson and putting pressure on the Steelers’ offense. It was clear that Garrett was one of the primary reasons for Cleveland's success. Meanwhile, Watt, despite being one of the NFL's top pass rushers, struggled to make those splash plays that typically define his impact. As the game unfolded, former Steelers Super Bowl champion Trai Essex took to social media to share his thoughts on Watt's performance. "TJ has been above reproach for so long.......not today," Essex wrote. "Dude has been non existent. His individual nemesis has made an impact and 90 hasn’t. Simply put." Essex, known for his candid opinions, questioned whether Watt’s lack of impact in such a crucial game was a sign of something bigger. His comments sparked debate among Steelers fans. One fan responded to Essex saying that it was one game and that he was overreacting. Essex added clarity to his comments about Watt. "Not calling for his job my man," Essex said. "Calling a bad game when we see it." The first thing to note is that the impact Watt has had on the Steelers—and continues to have—extends beyond what shows up in the box score. Even when he doesn’t register big stats, his presence on the field is often felt. Essex, a seasoned football mind, understands that great players can still influence the game even when they aren't getting the obvious numbers. In this case, Essex was looking beyond the typical statistics used to measure production. While Watt faced constant double-teams and chips throughout the game, there were moments when he wasn’t being pressured as heavily, yet he still failed to make the key plays that Essex felt were necessary. Great players, especially someone like Watt, are held to the highest standard—making an impact no matter the circumstances. It was a disappointing showing from Watt, but not just him. The entire defense struggled in several areas, and as a unit, they failed to rise to the occasion. Overall, the team didn’t appear prepared for a Browns squad that, while dangerous, has had its struggles this season. From a defensive standpoint, the Steelers seemed unready to deal with Cleveland’s offensive schemes, leaving them exposed when it mattered most. The lack of preparation was glaring, and it cost the Steelers dearly in this crucial matchup. Steelers' TJ Watt Gets Strange Hate From Browns' Myles Garrett Essex knows football well enough to recognize when Watt deserves criticism, and in this case, he felt Watt needed to make a bigger impact. Watt himself would likely be the first to agree. The game was further fueled by some interesting comments from Garrett about Watt, and after the game, Garrett continued to take shots at the Steelers' star. The rivalry between these two pass rushers is sure to intensify, and for now, Garrett holds the upper hand. However, Watt is known for bouncing back and will undoubtedly have a major game soon. No player, no matter how great, is beyond scrutiny—especially when you suffer a loss to a team like the Browns. This article first appeared on SteelerNation.com and was syndicated with permission.Photo: © Getty Images Miley Cyrus used to struggle to "connect with people" because of her fame. The 31-year-old singer became known around the world when she took on the title role in the Disney Channel sitcom 'Hannah Montana' as a teenager and went on to become one of the world's biggest pop stars in the process but noted that having that kind of notoriety "got in the way" of her social relationships. She told Harper's Bazaar: "Obviously, [being a child star] shaped me into a very different adult than some of my peers or my friends. It is just a really different childhood to have. For a while, I thought it got in the way of me connecting with people." Just before the new interview, the 'Flowers' hitmaker had done a Chinese medicine quiz, and one of the questions was about whether she felt she could easily form relationships with others. Miley wasn't exactly sure how to answer that but did recall that while she can "drop" her celebrity persona whenever she chooses, it can be difficult for others to perceive her as an ordinary person. She said: "I don’t even know how to really answer that because for who I am as a person, yes, I feel like I can connect to people and I feel like I’m a friend to all. But because of how I’ve grown up, sometimes people make it harder. I can drop my persona really easily, but it’s hard for other people to erase that part of you." The Grammy Award-winning star appeared on the hit Disney Channel series alongside her father Billy Ray Cyrus and the success of the sitcom made her a multimillionaire by her mid-teens, but she recalled that it was her mother Tish Cyrus who would often step in to discipline her. She said: "My mom said that I had to get a Nissan or Toyota just like my other siblings. She was never afraid to take my cell phone away. Even when I paid my own cell phone bill! I would always go, like, Mom, that’s for kids that don’t pay their own cell-phone bill. "And she’s like, 'I don’t care. You’re not getting your phone.'"