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Suspended driver nabbed by automated licence plate recognition camera
By Stephen Beech via SWNS Cleaning surfaces every two hours at airports cuts potentially deadly norovirus infections by 83%, according to a new study. Researchers found that airport restaurants had the highest risk of norovirus transmission . But frequently disinfecting surfaces, mask-wearing and antimicrobial surface coatings at the transport hubs can all help prevent the highly contagious illness - also known as the winter vomiting bug - from spreading, say scientists. Study author Professor Nan Zhang, of the Beijing University of Technology in China, said: "Norovirus causes severe vomiting and diarrhea and is responsible for about 685 million cases and 200,000 deaths each year. "The virus is primarily transmitted through surfaces and outbreaks during air travel are especially common, due to the large number of public surfaces in airports." To investigate the risk of norovirus infection from surfaces among passengers in different zones of the airport, the research team collected real touch data from 21.3 hours of video, which captured almost 26,000 touches. They developed a model of surface transmission and simulated the risk of infection from norovirus and the effectiveness of various interventions in different airport areas. Zhang said: "The touch data showed that, without any interventions, restaurants at airports had the highest risk of norovirus transmission, with approximately 4.6 out of 51,494 travelers infected. "Disinfecting public surfaces every two hours reduced the risk of norovirus infection per visit to the airport by 83.2%. "In contrast, handwashing every two hours reduced the risk by only 2%, and mask-wearing 50% of the time reduced risk by 48.0%, because masks stop people from touching their face. "Furthermore, using antimicrobial copper or copper-nickel alloy coatings for most public surfaces lowered the infection risk by 15.9% to 99.2%." He says the study, published in the journal PLOS Computational Biology , provides "crucial" insights for developing infection prevention and control strategies specifically tailored for norovirus within airport environments. Zhang noted that the data for the study was collected during the COVID-19 pandemic , so surface-touching behaviors may have been different from normal. But he said that, overall, the simulated results indicated that public surface disinfection, mask-wearing wearing and the use of antimicrobial surfaces are effective ways of controlling the spread of norovirus via surfaces. Zhang added: "Regular surface infection is much more effective than regular handwashing for blocking norovirus transmission via fomite route in airports."
Matt Gaetz on Thursday dropped out of consideration to be Donald Trump’s new Attorney General, and readers as far west as Topeka might have heard the whooshing noise, as Senate Republicans in Washington sighed in collective relief. Mr. Gaetz was an awful choice for many reasons, and the question is what lesson Mr. Trump draws from this mistake. In a Truth Social post, Mr. Trump said Mr. Gaetz “did not want to be a distraction for the Administration,” but that he “was doing very well.” He wishes. On Wednesday the House Ethics Committee declined to release a report on Mr. Gaetz’s alleged misconduct, but Democrats said they’d try to force a floor vote, and lawyers for Mr. Gaetz’s accusers have been talking to the press anyway. Give credit to the Republican Senators, including John Cornyn of Texas, who made clear that even under a GOP President they planned to take seriously their constitutional duty of vetting cabinet nominees. South Dakota Sen. Mike Rounds told CNN that seeing the House report on Mr. Gaetz could speed confirmation hearings. “If it’s not available and we have to recreate it ourselves,” he said, “that would delay our ability to make a decision.” Instead Mr. Trump cut his losses on a bad nomination, and in the end this will help him. Mr. Gaetz’s confirmation by the Senate was seriously in doubt. Although he denies wrongdoing, the hearings would have included claims that Mr. Gaetz had sex with a 17-year-old in 2017, an embarrassing and damaging spectacle for Mr. Trump. A yes vote by GOP Senators in swing states would have been thrown back at them in attack ads in 2026 or 2028. Does Mr. Trump recognize now that the Republican Senate is going to give his cabinet nominees a fair hearing, but not a complete pass? Maybe he does. On Thursday night he went a different direction, announcing that his new AG nominee is Pam Bondi, who was Florida’s Attorney General from 2011-2019. “Pam was a prosecutor for nearly 20 years, where she was very tough on Violent Criminals,” he said on Truth Social. “Then, as Florida’s first female Attorney General, she worked to stop the trafficking of deadly drugs.” In Florida Ms. Bondi was among the state AGs who sued to block ObamaCare. She’s a serious lawyer, unlike Mr. Gaetz, and the President-elect may trust her because she was part of his impeachment defense team in 2020. Mr. Trump wants loyalists but he also needs competent deputies who won’t distract from his second-term goals. On that score he should be weighing whether to stick with Pete Hegseth as Defense Secretary and Tulsi Gabbard as Director of National Intelligence. For Labor Secretary, he’s considering Rep. Lori Chavez-DeRemer, who supports the union giveaway Pro Act.Live Music Market Size To Increase By USD 35.56 Billion Between 2023 To 2028, Market Segmentation By Revenue, Genre, Geography, Technavio
COMMERCE, Texas (AP) — Myles Corey had 27 points in South Alabama's 81-72 victory against East Texas A&M on Sunday. Corey also added five assists and four steals for the Jaguars (7-3). Barry Dunning Jr. scored 14 points and added five rebounds. John Broom went 4 of 5 from the field (3 for 3 from 3-point range) to finish with 11 points, while adding four steals. The Lions (1-10) were led in scoring by Khaliq Abdul-Mateen, who finished with 17 points. Yusef Salih added 17 points for Texas A&M-Commerce. Tay Mosher also had eight points. The loss is the seventh straight for the Lions. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Billionaires have seen their combined wealth shoot up 121 percent over the past decade to $14 trillion, Swiss bank UBS said Thursday, with tech billionaires' coffers filling the fastest. Switzerland's biggest bank, which is among the world's largest wealth managers, said the number of dollar billionaires increased from 1,757 to 2,682 over the past 10 years, peaking in 2021 with 2,686. The 10th edition of UBS's annual Billionaire Ambitions report, which tracks the wealth of the world's richest people, found that billionaires have comfortably outperformed global equity markets over the past decade. The report documents "the growth and investment of great wealth, as well as how it's being preserved for future generations and used to have a positive effect on society", said Benjamin Cavalli, head of strategic clients at UBS global wealth management. Between 2015 and 2024, total billionaire wealth increased by 121 percent from $6.3 trillion to $14.0 trillion -- while the MSCI AC World Index of global equities rose 73 percent. The wealth of tech billionaires increased the fastest, followed by that of industrialists. Worldwide, tech billionaires' wealth tripled from $788.9 billion in 2015 to $2.4 trillion in 2024. "In earlier years, the new billionaires commercialised e-commerce, social media and digital payments; more recently they engineered the generative AI boom, while also developing cyber-security, fintech, 3D printing and robotics," UBS said. The report found that since 2020, the global growth trend had slowed due to declines among China's billionaires. From 2015 to 2020, billionaire wealth grew globally at an annual rate of 10 percent, but growth has plunged to one percent since 2020. Chinese billionaire wealth more than doubled from 2015 to 2020, rising from $887.3 billion to $2.1 trillion, but has since fallen back to $1.8 trillion. However, North American billionaire wealth has risen 58.5 percent to $6.1 trillion since 2020, "led by industrials and tech billionaires". Meanwhile billionaires are relocating more frequently, with 176 having moved country since 2020, with Switzerland, the United Arab Emirates, Singapore and the United States being popular destinations. In 2024, some 268 people became billionaires for the first time, with 60 percent of them entrepreneurs. "The year's new billionaires were mainly self-made," said UBS. The report said US billionaires accrued the greatest gains in 2024, reinforcing the country's place as the world's main centre for billionaire entrepreneurs. Their wealth rose 27.6 percent to $5.8 trillion, or more than 40 percent of billionaire wealth worldwide. Billionaires' wealth from mainland China and Hong Kong fell 16.8 percent to $1.8 trillion, with the number of billionaires dropping from 588 to 501. Indian billionaires' wealth increased 42.1 percent to $905.6 billion, while their number grew from 153 to 185. Western Europe’s total billionaire wealth rose 16.0 percent to $2.7 trillion -- partly due to a 24 percent increase in Swiss billionaires. UAE billionaires' aggregate wealth rose 39.5 percent to $138.7 billion. UBS said billionaires faced an "uncertain world" over the next 10 years, due to high geopolitical tensions, trade barriers and governments with mounting spending requirements. Billionaires will therefore need to rely on their previous distinctive traits: "smart risk-taking, business focus and determination". "Risk-taking billionaires are likely to be at the forefront of creating two technology-related industries of the future already taking shape: generative AI and renewables/electrification," UBS predicted. And more flexible wealth planning will be needed as billionaire families move country and spread around the world. The heirs and philanthropic causes of baby boom billionaires are set to inherit an estimated $6.3 trillion over the next 15 years, UBS said. rjm/gv
ROCKVILLE, Md.--(BUSINESS WIRE)--Dec 5, 2024-- Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announces financial results for its third quarter of fiscal year 2025 ended October 31, 2024. The Company will host an investor conference call today, December 5, 2024, at 5:00 p.m. ET. Consolidated Financial Highlights ($ in thousands, except per share data) October 31, For the Quarter Ended: 2024 2023 Change Revenues $ 257,008 $ 163,755 $ 93,253 Gross profit 44,327 19,235 25,092 Gross margin % 17.2 % 11.7 % 5.5 % Net income $ 28,010 $ 5,464 $ 22,546 Diluted income per share 2.00 0.40 1.60 EBITDA 37,509 12,180 25,329 Cash dividends per share 0.375 0.300 0.075 October 31, For the Nine Months Ended: 2024 2023 Change Revenues $ 641,705 $ 408,779 $ 232,926 Gross profit 93,376 57,201 36,175 Gross margin % 14.6 % 14.0 % 0.6 % Net income $ 54,090 $ 20,340 $ 33,750 Diluted income per share 3.91 1.50 2.41 EBITDA 74,241 33,774 40,467 Cash dividends per share 0.975 0.800 0.175 October 31, January 31, As of: 2024 2024 Change Cash, cash equivalents and investments $ 506,282 $ 412,405 $ 93,877 Net liquidity (1) 280,977 244,919 36,058 Share repurchase treasury stock, at cost 102,746 97,528 5,218 Project backlog 800,000 757,000 43,000 (1) Net liquidity, or working capital, is defined as total current assets less total current liabilities. David Watson, President and Chief Executive Officer of Argan, commented, “Our third quarter revenues and earnings, each the second highest in Company history, reflect strong execution across all of our businesses, which drove consolidated revenues growth of 57% to $257 million, gross margin of 17.2%, net income of $28.0 million, or $2.00 per diluted share, and EBITDA of $37.5 million. Our power industry services segment had a particularly strong quarter as evidenced by revenue growth of 75% to $212 million with gross margin of 18.3%, demonstrating our ability to drive enhanced profitability on our renewable as well as on our natural gas projects. “Our backlog of $0.8 billion at the close of the quarter increased 6% compared to backlog entering fiscal year 2025, and includes $478 million of renewable projects, reflecting the market appeal of our energy agnostic capabilities and our ability to diversify our backlog mix. The industry is seeing strong demand for natural gas projects and we believe that our expertise, well-established industry relationships and reputation for enabling efficient and on-budget project completion provide a competitive advantage as we pursue new opportunities. “As we move through the close of our fiscal year, we are encouraged by the strengthening pipeline of planned energy facilities as the industry prepares for the anticipated unprecedented growth in power demand driven by data centers, reshoring of manufacturing operations and increased EV charger utilization. We believe our successful track record as an effective partner in the construction of both traditional and renewable power facilities position us well to capitalize on the current and future need for high quality energy resources to support the power grid.” Third Quarter Results Consolidated revenues for the quarter ended October 31, 2024 were $257.0 million, an increase of $93.3 million, or 57%, from consolidated revenues of $163.8 million reported for the comparable prior year quarter. The Company achieved increased revenues with heightened quarterly construction activities at several projects, including the Midwest Solar and Battery Projects; the Trumbull Energy Center, a large combined cycle, gas-fired power plant under construction near Lordstown, Ohio; the 405 MW Midwest Solar Project; and the Louisiana LNG Facility. The overall increase in consolidated revenues between quarters was partially offset by decreased construction revenues associated with the Guernsey Power Station project, the Shannonbridge Power Project and the ESB FlexGen Peaker Plants, as those projects have been completed. For the quarter ended October 31, 2024, Argan’s consolidated gross profit was approximately $44.3 million, or 17.2% of consolidated revenues, reflecting profit contributions from all three reportable business segments. The consolidated gross margin for the quarter reflects the changing mix of projects, strong execution and certain positive job closeouts. Last year, during the third quarter ended October 31, 2023, gross profit was negatively impacted by a loss on the Kilroot project, which reduced gross profit by approximately $10.7 million. Consolidated gross profit for the quarter ended October 31, 2023 was $19.2 million, or 11.7% of consolidated revenues. Selling, general and administrative expenses increased by $2.6 million to $14.0 million for the quarter ended October 31, 2024, from $11.4 million in the comparable prior year quarter. However, as a percentage of revenues, these expenses declined to 5.4% in the third quarter of fiscal 2025 as compared to 6.9% in the third quarter of fiscal 2024. Other income, net, for the three months ended October 31, 2024 was $6.6 million, which reflected income earned during the period on invested funds in the total amount of approximately $4.8 million. During the quarter ended October 31, 2024, the Company recorded income tax expense of $9.0 million, primarily due to consolidated pre-tax book income of $37.0 million. For the comparable period last year, the effective tax rate was higher primarily due to the unrecognized tax loss benefit related to the Kilroot project. For the quarter ended October 31, 2024, Argan achieved net income of $28.0 million, or $2.00 per diluted share, compared to $5.5 million, or $0.40 per diluted share, for last year’s third quarter. EBITDA for the quarter ended October 31, 2024 increased to $37.5 million compared to $12.2 million in the same quarter of last year. Argan maintained a substantial total balance of cash, cash equivalents and investments during the quarter. The total balances were $506.3 million and $412.4 million as of October 31 and January 31, 2024, respectively. Balance sheet net liquidity was $281.0 million at October 31, 2024 and $244.9 million at January 31, 2024; furthermore, the Company had no debt. First Nine Months Results Consolidated revenues for the nine months ended October 31, 2024 were $641.7 million, an increase of $232.9 million, or 57.0%, from consolidated revenues of $408.8 million reported for the comparable prior year period. For the nine months ended October 31, 2024, consolidated gross profit increased to approximately $93.4 million, which represented a consolidated gross margin of 14.6%, compared to consolidated gross profit of $57.2 million, or consolidated gross margin of 14.0%, reported for the nine months ended October 31, 2023. The gross profit percentage increased between periods primarily due to the changing mix of projects and contract types. Additionally, during the nine-month periods ended October 31, 2024 and 2023, gross profit was negatively impacted by a loss recorded on the Kilroot Project, which reduced gross profit by approximately $2.6 million and $11.5 million, respectively. Selling, general and administrative expenses increased by $5.4 million to $37.8 million for the nine months ended October 31, 2024, from $32.5 million in the comparable prior year period. However, as a percentage of revenues, these expenses declined to 5.9% from 7.9% between the periods. Other income, net, for the nine months ended October 31, 2024 was $17.0 million, which reflected income earned during the period on invested funds of approximately $14.0 million, as the weighted average balances of investments are meaningfully higher this year. The Company recorded income tax expense of $18.5 million for the nine months ended October 31, 2024 primarily due to corresponding consolidated pre-tax book income of $72.6 million. For the comparable period last year, the effective tax rate was higher primarily due to the unrecognized tax loss benefit related to the Kilroot project. For the nine months ended October 31, 2024, Argan achieved net income of $54.1 million, or $3.91 per diluted share, versus net income of $20.3 million, or $1.50 per diluted share, for last year’s comparable period. EBITDA for the nine months ended October 31, 2024 was $74.2 million compared to $33.8 million in the same period of last year. Conference Call and Webcast Argan will host a conference call and webcast for investors today, December 5, 2024, at 5:00 p.m. ET. Domestic stockholders and interested parties may participate in the conference call by dialing (888) 506-0062 and international participants should dial (973) 528-0011; all callers shall use access code: 925404. The call and the accompanying slide deck will also be webcast at: https://www.webcaster4.com/webcast/page/2961/51625 The conference call and slide deck may also be accessed via the Investor Center section of the Company’s website at https://arganinc.com/investor-center . Please allow extra time prior to the call to visit the site. A replay of the teleconference will be available until December 19, 2024, and can be accessed by dialing 877-481-4010 (domestic) or 919-882-2331 (international). The replay access code is 51625. A replay of the webcast can be accessed until December 5, 2025. About Argan Argan’s primary business is providing a full range of construction and related services to the power industry. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, maintenance, project development and technical consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated industrial construction, fabrication and plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services. Non-GAAP Financial Measures The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). Within this press release, the Company makes reference to earnings before interest, taxes, depreciation and amortization (“EBITDA”), a non-GAAP financial measure. The Company believes that the non-GAAP financial measure described in this press release is important to management and investors because the measure supplements the understanding of Argan’s ongoing operating results, excluding the effects of capital structure, depreciation, amortization, and income tax rates. The non-GAAP financial measure referred to above should be considered in conjunction with, and not as a substitute for, the GAAP financial information presented in this press release. Financial tables at the end of this press release provide a reconciliation of the non-GAAP financial measures to the comparable GAAP measures. Safe Harbor Statement Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company’s future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, the Company’s ability to successfully complete the projects that it obtains, and the Company’s effectiveness in mitigating future losses related to the Kilroot loss contract. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company’s SEC filings. ARGAN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended October 31, October 31, 2024 2023 2024 2023 REVENUES $ 257,008 $ 163,755 $ 641,705 $ 408,779 Cost of revenues 212,681 144,520 548,329 351,578 GROSS PROFIT 44,327 19,235 93,376 57,201 Selling, general and administrative expenses 13,995 11,375 37,848 32,467 INCOME FROM OPERATIONS 30,332 7,860 55,528 24,734 Other income, net 6,646 3,733 17,044 7,222 INCOME BEFORE INCOME TAXES 36,978 11,593 72,572 31,956 Income tax expense 8,968 6,129 18,482 11,616 NET INCOME 28,010 5,464 54,090 20,340 OTHER COMPREHENSIVE INCOME, NET OF TAXES Foreign currency translation adjustments (957 ) (882 ) (1,933 ) (627 ) Net unrealized losses on available-for-sale securities (659 ) (427 ) (169 ) (1,147 ) COMPREHENSIVE INCOME $ 26,394 $ 4,155 $ 51,988 $ 18,566 NET INCOME PER SHARE Basic $ 2.07 $ 0.41 $ 4.04 $ 1.52 Diluted $ 2.00 $ 0.40 $ 3.91 $ 1.50 WEIGHTED AVERAGE SHARES OUTSTANDING Basic 13,530 13,328 13,398 13,381 Diluted 14,034 13,559 13,830 13,549 CASH DIVIDENDS PER SHARE $ 0.375 $ 0.300 $ 0.975 $ 0.800 ARGAN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share data) October 31, January 31, 2024 2024 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 175,349 $ 197,032 Investments 330,933 215,373 Accounts receivable, net 131,660 47,326 Contract assets 44,620 48,189 Other current assets 34,579 39,259 TOTAL CURRENT ASSETS 717,141 547,179 Property, plant and equipment, net 14,147 11,021 Goodwill 28,033 28,033 Intangible assets, net 1,924 2,217 Deferred taxes, net 1,254 2,259 Right-of-use and other assets 6,365 7,520 TOTAL ASSETS $ 768,864 $ 598,229 LIABILITIES AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES Accounts payable $ 87,085 $ 39,485 Accrued expenses 78,393 81,721 Contract liabilities 270,686 181,054 TOTAL CURRENT LIABILITIES 436,164 302,260 Noncurrent liabilities 3,996 5,030 TOTAL LIABILITIES 440,160 307,290 STOCKHOLDERS’ EQUITY Preferred stock, par value $0.10 per share – 500,000 shares authorized; no shares issued and outstanding — — Common stock, par value $0.15 per share – 30,000,000 shares authorized; 15,828,289 shares issued; 13,569,104 and 13,242,520 shares outstanding at October 31, 2024 and January 31, 2024, respectively 2,374 2,374 Additional paid-in capital 168,441 164,183 Retained earnings 266,334 225,507 Treasury stock, at cost – 2,259,185 and 2,585,769 shares at October 31, 2024 and January 31, 2024, respectively (102,746 ) (97,528 ) Accumulated other comprehensive loss (5,699 ) (3,597 ) TOTAL STOCKHOLDERS’ EQUITY 328,704 290,939 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 768,864 $ 598,229 ARGAN, INC. AND SUBSIDIARIES RECONCILIATION TO EBITDA (In thousands) (Unaudited) Three Months Ended October 31, 2024 2023 Net income, as reported $ 28,010 $ 5,464 Income tax expense 8,968 6,129 Depreciation 433 489 Amortization of intangible assets 98 98 EBITDA $ 37,509 $ 12,180 Nine Months Ended October 31, 2024 2023 Net income, as reported $ 54,090 $ 20,340 Income tax expense 18,482 11,616 Depreciation 1,376 1,524 Amortization of intangible assets 293 294 EBITDA $ 74,241 $ 33,774 View source version on businesswire.com : https://www.businesswire.com/news/home/20241205082200/en/ CONTACT: Company: David Watson 301.315.0027 Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor Relations 203.972.9200 argan@imsinvestorrelations.com KEYWORD: EUROPE UNITED STATES UNITED KINGDOM NORTH AMERICA MARYLAND INDUSTRY KEYWORD: OTHER ENERGY SUSTAINABILITY ALTERNATIVE ENERGY ENERGY TECHNOLOGY OTHER CONSTRUCTION & PROPERTY CONSTRUCTION & PROPERTY ENVIRONMENT OTHER COMMUNICATIONS ENGINEERING COMMUNICATIONS TELECOMMUNICATIONS MANUFACTURING SOURCE: Argan, Inc. Copyright Business Wire 2024. PUB: 12/05/2024 04:05 PM/DISC: 12/05/2024 04:05 PM http://www.businesswire.com/news/home/20241205082200/enWhat are the drones over New Jersey? All the key theories so far from foreign spies to Project Blue Beam
Photo: The Canadian Press B.C. Premier David Eby holds a press conference at the legislature in Victoria, Nov. 13. THE CANADIAN PRESS/Chad Hipolito British Columbia Premier David Eby says Canada's premiers and the federal government have hatched a game plan over possible U.S. tariffs, where Conservative premiers lobby their Republican counterparts and left-leaning leaders court the Democrats, while the federal government focuses on president-elect Donald Trump. Eby says the premiers and Prime Minister Justin Trudeau talked about using their political diversity and connections to approach politicians and business leaders in the United States, as talks over Trump's proposed 25 per cent tariff on imports from Canada and Mexico ramp up. He says it has been discussed that Conservative premiers Danielle Smith in Alberta, Doug Ford in Ontario and Nova Scotia's Tim Houston are well-placed to lobby their contacts with Republican governors and business leaders. In a year-end interview, Eby says as a New Democrat leader he will likely have more in common speaking with Democrat governors and business leaders from the West Coast states. He says Canada's diversity of representation, ranging from the right and left sides of the political spectrum, can bring leverage and advantages in tariff talks. Eby also says — if it is deemed helpful — he is prepared to appear on American's right-leaning Fox News TV network as did premiers Ford and Smith.
SAN FRANCISCO , Dec. 5, 2024 /PRNewswire/ -- Docusign, Inc. (NASDAQ: DOCU) today announced results for its fiscal quarter ended October 31, 2024. Prepared remarks and the news release with the financial results will be accessible on Docusign's website at investor.docusign.com prior to its webcast. "Docusign delivered powerful new innovation for customers highlighted by new capabilities to its Intelligent Agreement Management ("IAM") platform," said Allan Thygesen , CEO of Docusign. "In Q3, early IAM momentum outpaced expectations, and we continued to drive improvement in our core business with strong revenue growth and operating profit." Third Quarter Financial Highlights A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures and Other Key Metrics." Key Business Highlights: IAM Product Releases and Highlights : Docusign announced new product capabilities to its IAM platform. Highlights from recent product releases include: Contract Lifecycle Management ("CLM") Product Releases and Highlights : Developer Ecosystem: Guidance The company currently expects the following guidance: Total revenue $758 to $762 Subscription revenue $741 to $745 Billings $870 to $880 Non-GAAP gross margin 81.0 % to 82.0 % Non-GAAP operating margin 27.5 % to 28.5 % Non-GAAP diluted weighted-average shares outstanding 209 to 214 Total revenue $2,959 to $2,963 Subscription revenue $2,885 to $2,889 Billings $3,056 to $3,066 Non-GAAP gross margin 81.9 % to 82.1 % Non-GAAP operating margin 29.5 % to 29.7 % Non-GAAP diluted weighted-average shares outstanding 210 to 212 A reconciliation of non-GAAP guidance measures to corresponding GAAP guidance measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by many factors, including the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP financial results included in this release. Webcast Conference Call Information The company will host a conference call on December 5, 2024 at 2:00 p.m. PT ( 5:00 p.m. ET ) to discuss its financial results. A live webcast of the event will be available on the Docusign Investor Relations website at investor.docusign.com . Prepared remarks and the news release with the financial results will also be accessible on Docusign's website prior to the webcast. A live dial-in will be available domestically at 877-407-0784 or internationally at 201-689-8560. A replay will be available domestically at 844-512-2921 or internationally at 412-317-6671 until midnight (EST) December 19, 2024 using the passcode 13750095. About Docusign Docusign brings agreements to life. Over 1.6 million customers and more than a billion people in over 180 countries use Docusign solutions to accelerate the process of doing business and simplify people's lives. With intelligent agreement management, Docusign unleashes business critical data that is trapped inside of documents. Until now, these were disconnected from business systems of record, costing businesses time, money, and opportunity. Using Docusign's IAM platform, companies can create, commit, and manage agreements with solutions created by the #1 company in e-signature and CLM. Learn more at www.docusign.com . Copyright 2024. Docusign, Inc. is the owner of DOCUSIGN® and all its other marks (www.docusign.com/IP). Investor Relations: Docusign Investor Relations investors@docusign.com Media Relations: Docusign Corporate Communications media@docusign.com Forward-Looking Statements This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently available to management, and which statements involve substantial risk and uncertainties. All statements contained in this press release other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth and trends, objectives for future operations, and the impact of such assumptions on our financial condition and results of operations are forward-looking statements. Forward-looking statements in this press release also include, among other things, statements under "Guidance" above and any other statements about expected financial metrics, such as revenue, billings, non-GAAP gross margin, non-GAAP operating margin, non-GAAP diluted weighted-average shares outstanding, and non-financial metrics, as well as statements related to our expectations regarding the benefits, rollout and customer demand of the Docusign IAM platform. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this press release include, but are not limited to, statements about: our expectations regarding global macro-economic conditions, including the effects of inflation, volatile interest rates, and market volatility on the global economy; our ability to estimate the size and growth of our total addressable market; our ability to compete effectively in an evolving and competitive market; the impact of any data breaches, cyberattacks or other malicious activity on our technology systems; our ability to effectively sustain and manage our growth and future expenses and maintain or increase future profitability; our ability to attract new customers and maintain and expand our existing customer base; our ability to effectively implement and execute our restructuring plans; our ability to scale and update our platform to respond to customers' needs and rapid technological change, including our ability to successfully incorporate generative artificial intelligence into our existing and future products; our ability to successfully execute our technical developments, go-to-market and sales strategy for our IAM platform; our ability to expand use cases within existing customers and vertical solutions; our ability to expand our operations and increase adoption of our platform internationally; our ability to strengthen and foster our relationships with developers; our ability to retain our direct sales force, customer success team and strategic partnerships around the world; our ability to identify targets for and execute potential acquisitions and to successfully integrate and realize the anticipated benefits of such acquisitions; our ability to maintain, protect and enhance our brand; the sufficiency of our cash, cash equivalents and capital resources to satisfy our liquidity needs; limitations on us due to obligations we have under our credit facility or other indebtedness; our ability to realize the anticipated benefits of our stock repurchase program; our failure or the failure of our software to comply with applicable industry standards, laws and regulations; our ability to maintain, protect and enhance our intellectual property; our ability to successfully defend litigation against us; our ability to attract large organizations as users; our ability to maintain our corporate culture; our ability to offer high-quality customer support; our ability to hire, retain and motivate qualified personnel, including executive level management; our ability to successfully manage and integrate executive management transitions; uncertainties regarding the impact of general economic and market conditions, including as a result of regional and global conflicts; and our ability to maintain proper and effective internal controls. Additional risks and uncertainties that could affect our financial results are included in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K for the fiscal year ended January 31, 2024 filed on March 21, 2024 , our quarterly report on Form 10-Q for the quarter ended October 31, 2024 , which we expect to file on December 6, 2024 with the Securities and Exchange Commission (the "SEC"), and other filings that we make from time to time with the SEC. The forward-looking statements made in this press release relate only to events as of the date on which such statements are made. We undertake no obligation to update any forward-looking statements after the date of this press release or to conform such statements to actual results or revised expectations, except as required by law. Non-GAAP Financial Measures and Other Key Metrics To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly-titled measures used by other companies, are presented to enhance investors' overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects, and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We present these non-GAAP measures to assist investors in seeing our financial performance using a management view, and because we believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry. However, these non-GAAP measures are not intended to be considered in isolation from, a substitute for, or superior to our GAAP results. Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income and non-GAAP net income per share : We define these non-GAAP financial measures as the respective GAAP measures, excluding expenses related to stock-based compensation, employer payroll tax on employee stock transactions, amortization of acquisition-related intangibles, amortization of debt discount and issuance costs, fair value adjustments to strategic investments, acquisition-related expenses, lease-related impairment and lease-related charges, restructuring and other related charges, as these costs are not reflective of ongoing operations and, as applicable, other special items. The amount of employer payroll tax-related items on employee stock transactions is dependent on our stock price and other factors that are beyond our control and do not correlate to the operation of the business. When evaluating the performance of our business and making operating plans, we do not consider these items (for example, when considering the impact of equity award grants, we place a greater emphasis on overall stockholder dilution rather than the accounting charges associated with such grants). We believe it is useful to exclude these expenses in order to better understand the long-term performance of our core business and to facilitate comparison of our results to those of peer companies and over multiple periods. In addition to these exclusions, we subtract an assumed provision for income taxes to calculate non-GAAP net income. We utilize a fixed long-term projected tax rate in our computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2024 and fiscal 2025, we have determined the projected non-GAAP tax rate to be 20%. Free cash flow : We define free cash flow as net cash provided by operating activities less purchases of property and equipment. We believe free cash flow is an important liquidity measure of the cash that is available (if any), after purchases of property and equipment, for operational expenses, investment in our business, and to make acquisitions. Free cash flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash in excess of our capital investments in property and equipment. Once our business needs and obligations are met, cash can be used to maintain a strong balance sheet and invest in future growth. Billings : We define billings as total revenues plus the change in our contract liabilities and refund liability less contract assets and unbilled accounts receivable in a given period. Billings reflects sales to new customers plus subscription renewals and additional sales to existing customers. Only amounts invoiced to a customer in a given period are included in billings. We believe billings can be used to measure our periodic performance, when taking into consideration the timing aspects of customer renewals, which represents a large component of our business. Given that most of our customers pay in annual installments one year in advance, but we typically recognize a majority of the related revenue ratably over time, we use billings to measure and monitor our ability to provide our business with the working capital generated by upfront payments from our customers. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure, please see "Reconciliation of GAAP to Non-GAAP Financial Measures" below. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended October 31, Nine Months Ended October 31, (in thousands, except per share data) 2024 2023 2024 2023 Revenue: Subscription $ 734,693 $ 682,352 $ 2,143,542 $ 1,991,026 Professional services and other 20,127 18,069 56,945 58,470 Total revenue 754,820 700,421 2,200,487 2,049,496 Cost of revenue: Subscription 134,587 114,227 393,561 339,354 Professional services and other 21,950 28,418 67,887 85,360 Total cost of revenue 156,537 142,645 461,448 424,714 Gross profit 598,283 557,776 1,739,039 1,624,782 Operating expenses: Sales and marketing 290,597 292,473 859,705 867,916 Research and development 151,101 136,640 432,992 387,964 General and administrative 97,555 108,215 277,162 316,910 Restructuring and other related charges — 710 29,721 30,293 Total operating expenses 539,253 538,038 1,599,580 1,603,083 Income from operations 59,030 19,738 139,459 21,699 Interest expense (462) (1,577) (1,150) (5,135) Interest income and other income, net 13,006 17,673 41,745 47,373 Income before provision for (benefit from) income taxes 71,574 35,834 180,054 63,937 Provision for (benefit from) income taxes 9,151 (2,971) (804,340) 17,198 Net income $ 62,423 $ 38,805 $ 984,394 $ 46,739 Net income per share attributable to common stockholders: Basic $ 0.31 $ 0.19 $ 4.81 $ 0.23 Diluted $ 0.30 $ 0.19 $ 4.69 $ 0.23 Weighted-average shares used in computing net income per share: Basic 203,567 204,456 204,674 203,609 Diluted 208,706 208,054 209,755 208,317 Stock-based compensation expense included in costs and expenses: Cost of revenue—subscription $ 14,862 $ 13,705 $ 44,636 $ 38,143 Cost of revenue—professional services and other 4,765 7,343 14,465 21,359 Sales and marketing 49,347 53,715 154,396 150,604 Research and development 53,184 48,310 150,816 129,458 General and administrative 31,070 36,337 91,239 111,271 Restructuring and other related charges — 8 4,836 4,996 CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) October 31, 2024 January 31, 2024 Assets Current assets Cash and cash equivalents $ 610,870 $ 797,060 Investments—current 331,506 248,402 Accounts receivable, net 300,444 439,299 Contract assets—current 13,645 15,922 Prepaid expenses and other current assets 75,412 66,984 Total current assets 1,331,877 1,567,667 Investments—noncurrent 112,805 121,977 Property and equipment, net 278,623 245,173 Operating lease right-of-use assets 113,365 123,188 Goodwill 455,678 353,138 Intangible assets, net 83,307 50,905 Deferred contract acquisition costs—noncurrent 445,987 409,627 Deferred tax assets—noncurrent 816,538 2,031 Other assets—noncurrent 132,028 97,584 Total assets $ 3,770,208 $ 2,971,290 Liabilities and Equity Current liabilities Accounts payable $ 18,144 $ 19,029 Accrued expenses and other current liabilities 94,591 104,037 Accrued compensation 158,779 195,266 Contract liabilities—current 1,307,749 1,320,059 Operating lease liabilities—current 19,507 22,230 Total current liabilities 1,598,770 1,660,621 Contract liabilities—noncurrent 22,931 21,980
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Zero Trust Software-Defined Perimeter Market Industry Dynamics and Contributions by Cloudflare, Fortinet, Twingate, ZoneZero, Cisco, NordLayer, Perimeter 81, Zscaler 12-15-2024 08:49 PM CET | IT, New Media & Software Press release from: STATS N DATA Zero Trust Software-Defined Perimeter Market The Zero Trust Software-Defined Perimeter (SDP) market is rapidly evolving, driven by the increasing need for enhanced security measures in an era of relentless cyber threats. As organizations worldwide continue to shift towards remote work and cloud services, the relevance and scope of Zero Trust architecture have become paramount. This innovative security model, which operates on the principle of ""never trust, always verify,"" offers robust protection for sensitive data and critical infrastructure. With its key applications spanning various sectors, including finance, healthcare, and government, the Zero Trust SDP market is positioned for significant growth. You can access a sample PDF report here: https://www.statsndata.org/download-sample.php?id=94912 Recent developments in cybersecurity have underscored the importance of Zero Trust principles. Factors driving growth include advancements in artificial intelligence (AI) and machine learning (ML), which enhance threat detection and response capabilities. Additionally, strategic collaborations among technology providers are fostering innovation and developing more comprehensive solutions tailored to evolving market demands. Organizations are increasingly adopting Zero Trust frameworks to safeguard their digital environments, making it essential for stakeholders to stay informed about current trends and market dynamics. Key Growth Drivers and Trends Shaping the Market The Zero Trust SDP market is influenced by several critical factors that are driving demand. Sustainability initiatives, along with the ongoing digital transformation across industries, are leading organizations to reassess their cybersecurity strategies. As consumers become more aware of data privacy issues, there is a growing emphasis on implementing secure access controls and data protection measures. Emerging trends, such as the integration of AI and automation in security solutions, are reshaping the landscape. Organizations are leveraging these technologies to enhance threat intelligence and streamline security operations. Additionally, product customization is gaining traction as businesses seek tailored solutions that address their unique security needs. The rise of IoT devices also presents both opportunities and challenges, as organizations must secure an expanding array of endpoints and connections. Market Segmentation: Understanding Dynamics The Zero Trust Software-Defined Perimeter market can be segmented into various categories that provide insights into its structure and dynamics: • Segment by Type - Cloud Based: This segment includes solutions delivered via cloud platforms, offering scalability and flexibility to organizations. - On Premises: On-premises solutions provide organizations with greater control over their security infrastructure, appealing to those with specific compliance requirements. • Segment by Application - Large Enterprises: Large organizations often operate complex IT environments, necessitating comprehensive Zero Trust strategies to protect sensitive data. - SMEs: Small and medium-sized enterprises are increasingly adopting Zero Trust frameworks as cybersecurity threats continue to rise, recognizing the importance of safeguarding their digital assets. Get 30% Discount On Full Report: https://www.statsndata.org/ask-for-discount.php?id=94912 Competitive Landscape: Leaders Driving Market Innovation Several key players are at the forefront of the Zero Trust Software-Defined Perimeter market, influencing trends and driving innovation: • Cloudflare: Known for its cutting-edge security solutions, Cloudflare is enhancing Zero Trust frameworks with its unique approach to network security and performance. • Fortinet: Fortinet's comprehensive security offerings include advanced threat detection capabilities, helping organizations implement effective Zero Trust strategies. • Twingate: Twingate specializes in secure remote access solutions that align with Zero Trust principles, empowering organizations to embrace remote work securely. • ZoneZero: ZoneZero is innovating within the Zero Trust space, providing solutions that simplify access control while maintaining robust security. • Cisco: Cisco's extensive portfolio includes Zero Trust solutions that integrate seamlessly with existing infrastructure, supporting organizations in their cybersecurity journeys. • NordLayer: NordLayer is focused on delivering secure access solutions, enabling businesses to protect their networks while embracing digital transformation. • Perimeter 81: Perimeter 81's cloud-based security platform offers organizations a comprehensive Zero Trust approach to network security. • Zscaler: Zscaler is a pioneer in cloud security, providing solutions that facilitate secure access to applications and data from anywhere. • Appgate: Appgate's Zero Trust solutions empower organizations to adopt a more secure approach to remote access and identity management. Each of these companies is making notable contributions to the market through product innovations, strategic partnerships, and expansions, solidifying their roles as leaders in the industry. Opportunities and Challenges in the Market Landscape The Zero Trust SDP market presents a wealth of opportunities for growth, particularly in untapped regions and sectors. As organizations increasingly recognize the importance of cybersecurity, there is a rising demand for solutions that align with Zero Trust principles. Evolving consumer preferences, driven by heightened awareness of data security, are prompting businesses to invest in advanced security measures. However, the market is not without its challenges. Regulatory constraints can complicate the implementation of Zero Trust frameworks, as organizations must navigate compliance requirements while ensuring robust security. Additionally, operational inefficiencies and talent shortages in the cybersecurity workforce pose significant hurdles for businesses seeking to adopt these strategies. Solutions to these challenges include investing in training programs to develop cybersecurity talent and leveraging automation to streamline security operations. Technological Advancements Shaping the Future Technological advancements are at the heart of the Zero Trust Software-Defined Perimeter market's evolution. AI and machine learning are playing pivotal roles in enhancing threat detection and response capabilities, enabling organizations to identify and mitigate risks in real time. Virtual tools are also becoming increasingly important, allowing for secure remote access and collaboration among distributed teams. The integration of IoT-driven systems is another key trend, as organizations must secure not only traditional IT infrastructure but also a growing number of connected devices. This shift requires a reevaluation of security strategies, ensuring that Zero Trust principles are applied across all endpoints and connections. Research Methodology and Insights At STATS N DATA, our research approach is rooted in a comprehensive methodology that ensures accuracy and reliability. We employ both top-down and bottom-up methodologies to gather insights from various sources. Primary research, including interviews with industry experts and stakeholders, complements our secondary research, which involves analyzing existing reports and data. We utilize triangulation techniques to validate our findings, ensuring that our insights reflect the true state of the Zero Trust Software-Defined Perimeter market. By combining qualitative and quantitative data, we provide a holistic view of market trends, challenges, and opportunities. In conclusion, the Zero Trust Software-Defined Perimeter market is on a trajectory of growth driven by the increasing need for robust cybersecurity measures. With key players leading the charge, organizations are poised to adopt innovative solutions that enhance their security postures. As the landscape continues to evolve, stakeholders must remain vigilant and adaptable to capitalize on emerging trends and navigate the challenges ahead. STATS N DATA stands ready to provide insights and guidance in this dynamic market environment. For customization requests, please visit: https://www.statsndata.org/request-customization.php?id=94912 Full Zero Trust Software-Defined Perimeter Market Report Link: https://www.statsndata.org/report/Global-Zero-Trust-Software-Defined-Perimeter-Market-94912 Related Reports: Automotive Filters Market https://www.statsndata.org/report/automotive-filters-market-56199 Fuel Delivery Management Software Market https://www.statsndata.org/report/fuel-delivery-management-software-market-130690 Knurling Tool Holder Market https://www.statsndata.org/report/knurling-tool-holder-market-45358 Frozen Meatballs Market https://www.statsndata.org/report/frozen-meatballs-market-18654 Textile Recycling Market https://www.statsndata.org/report/textile-recycling-market-56087 John Jones Sales & Marketing Head | Stats N Data Phone: +1 (315) 642-4324 Email: sales@statsndata.org Website: www.statsndata.org STATS N DATA is a trusted provider of industry intelligence and market research, delivering actionable insights to businesses across diverse sectors. We specialize in helping organizations navigate complex markets with advanced analytics, detailed market segmentation, and strategic guidance. Our expertise spans industries including technology, healthcare, telecommunications, energy, food & beverages, and more. Committed to accuracy and innovation, we provide tailored reports that empower clients to make informed decisions, identify emerging opportunities, and achieve sustainable growth. Our team of skilled analysts leverages cutting-edge methodologies to ensure every report addresses the unique challenges of our clients. At STATS N DATA, we transform data into knowledge and insights into success. Partner with us to gain a competitive edge in today's fast-paced business environment. For more information, visit https://www.statsndata.org or contact us today at sales@statsndata.org This release was published on openPR.
NoneRenuka Rayasam | (TNS) KFF Health News In April, just 12 weeks into her pregnancy, Kathleen Clark was standing at the receptionist window of her OB-GYN’s office when she was asked to pay $960, the total the office estimated she would owe after she delivered. Clark, 39, was shocked that she was asked to pay that amount during this second prenatal visit. Normally, patients receive the bill after insurance has paid its part, and for pregnant women that’s usually only when the pregnancy ends. It would be months before the office filed the claim with her health insurer. Clark said she felt stuck. The Cleveland, Tennessee, obstetrics practice was affiliated with a birthing center where she wanted to deliver. Plus, she and her husband had been wanting to have a baby for a long time. And Clark was emotional, because just weeks earlier her mother had died. “You’re standing there at the window, and there’s people all around, and you’re trying to be really nice,” recalled Clark, through tears. “So, I paid it.” On online baby message boards and other social media forums , pregnant women say they are being asked by their providers to pay out-of-pocket fees earlier than expected. The practice is legal, but patient advocacy groups call it unethical. Medical providers argue that asking for payment up front ensures they get compensated for their services. How frequently this happens is hard to track because it is considered a private transaction between the provider and the patient. Therefore, the payments are not recorded in insurance claims data and are not studied by researchers. Patients, medical billing experts, and patient advocates say the billing practice causes unexpected anxiety at a time of already heightened stress and financial pressure. Estimates can sometimes be higher than what a patient might ultimately owe and force people to fight for refunds if they miscarry or the amount paid was higher than the final bill. Up-front payments also create hurdles for women who may want to switch providers if they are unhappy with their care. In some cases, they may cause women to forgo prenatal care altogether, especially in places where few other maternity care options exist. It’s “holding their treatment hostage,” said Caitlin Donovan, a senior director at the Patient Advocate Foundation . Medical billing and women’s health experts believe OB-GYN offices adopted the practice to manage the high cost of maternity care and the way it is billed for in the U.S. When a pregnancy ends, OB-GYNs typically file a single insurance claim for routine prenatal care, labor, delivery, and, often, postpartum care. That practice of bundling all maternity care into one billing code began three decades ago, said Lisa Satterfield, senior director of health and payment policy at the American College of Obstetricians and Gynecologists . But such bundled billing has become outdated, she said. Previously, pregnant patients had been subject to copayments for each prenatal visit, which might lead them to skip crucial appointments to save money. But the Affordable Care Act now requires all commercial insurers to fully cover certain prenatal services. Plus, it’s become more common for pregnant women to switch providers, or have different providers handle prenatal care, labor, and delivery — especially in rural areas where patient transfers are common. Some providers say prepayments allow them to spread out one-time payments over the course of the pregnancy to ensure that they are compensated for the care they do provide, even if they don’t ultimately deliver the baby. “You have people who, unfortunately, are not getting paid for the work that they do,” said Pamela Boatner, who works as a midwife in a Georgia hospital. While she believes women should receive pregnancy care regardless of their ability to pay, she also understands that some providers want to make sure their bill isn’t ignored after the baby is delivered. New parents might be overloaded with hospital bills and the costs of caring for a new child, and they may lack income if a parent isn’t working, Boatner said. In the U.S., having a baby can be expensive. People who obtain health insurance through large employers pay an average of nearly $3,000 out-of-pocket for pregnancy, childbirth, and postpartum care, according to the Peterson-KFF Health System Tracker . In addition, many people are opting for high-deductible health insurance plans, leaving them to shoulder a larger share of the costs. Of the 100 million U.S. people with health care debt, 12% attribute at least some of it to maternity care, according to a 2022 KFF poll . Families need time to save money for the high costs of pregnancy, childbirth, and child care, especially if they lack paid maternity leave, said Joy Burkhard , CEO of the Policy Center for Maternal Mental Health, a Los Angeles-based policy think tank. Asking them to prepay “is another gut punch,” she said. “What if you don’t have the money? Do you put it on credit cards and hope your credit card goes through?” Calculating the final costs of childbirth depends on multiple factors, such as the timing of the pregnancy , plan benefits, and health complications, said Erin Duffy , a health policy researcher at the University of Southern California’s Schaeffer Center for Health Policy and Economics. The final bill for the patient is unclear until a health plan decides how much of the claim it will cover, she said. But sometimes the option to wait for the insurer is taken away. During Jamie Daw’s first pregnancy in 2020, her OB-GYN accepted her refusal to pay in advance because Daw wanted to see the final bill. But in 2023, during her second pregnancy, a private midwifery practice in New York told her that since she had a high-deductible plan, it was mandatory to pay $2,000 spread out with monthly payments. Daw, a health policy researcher at Columbia University, delivered in September 2023 and got a refund check that November for $640 to cover the difference between the estimate and the final bill. “I study health insurance,” she said. “But, as most of us know, it’s so complicated when you’re really living it.” While the Affordable Care Act requires insurers to cover some prenatal services, it doesn’t prohibit providers from sending their final bill to patients early. It would be a challenge politically and practically for state and federal governments to attempt to regulate the timing of the payment request, said Sabrina Corlette , a co-director of the Center on Health Insurance Reforms at Georgetown University. Medical lobbying groups are powerful and contracts between insurers and medical providers are proprietary. Because of the legal gray area, Lacy Marshall , an insurance broker at Rapha Health and Life in Texas, advises clients to ask their insurer if they can refuse to prepay their deductible. Some insurance plans prohibit providers in their network from requiring payment up front. If the insurer says they can refuse to pay up front, Marshall said, she tells clients to get established with a practice before declining to pay, so that the provider can’t refuse treatment. Related Articles Health | Which health insurance plan may be right for you? Health | California case is the first confirmed bird flu infection in a US child Health | Your cool black kitchenware could be slowly poisoning you, study says. Here’s what to do Health | Does fluoride cause cancer, IQ loss, and more? Fact-checking Robert F. Kennedy Jr.’s claims Health | U.S. towns plunge into debates about fluoride in water Clark said she met her insurance deductible after paying for genetic testing, extra ultrasounds, and other services out of her health care flexible spending account. Then she called her OB-GYN’s office and asked for a refund. “I got my spine back,” said Clark, who had previously worked at a health insurer and a medical office. She got an initial check for about half the $960 she originally paid. In August, Clark was sent to the hospital after her blood pressure spiked. A high-risk pregnancy specialist — not her original OB-GYN practice — delivered her son, Peter, prematurely via emergency cesarean section at 30 weeks. It was only after she resolved most of the bills from the delivery that she received the rest of her refund from the other OB-GYN practice. This final check came in October, just days after Clark brought Peter home from the hospital, and after multiple calls to the office. She said it all added stress to an already stressful period. “Why am I having to pay the price as a patient?” she said. “I’m just trying to have a baby.” ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.This Creature’s ‘Sexual Parasitism’ Strategy Will Give You NightmaresFuture of Industrial Boiler Water Treatment Equipment Market: Analysis and Leadership by Veolia Water Technologies, Suez, Kurita Water Industries, Pentair, Ecolab, ChemTreat, Solenis, Evoqua Water Technologies 12-15-2024 10:09 PM CET | Industry, Real Estate & Construction Press release from: STATS N DATA Industrial Boiler Water Treatment Equipment Market The Industrial Boiler Water Treatment Equipment Market is witnessing significant growth as industries worldwide increasingly recognize the importance of efficient water treatment solutions. This market is not only pivotal for maintaining the operational efficiency of industrial boilers but also plays a crucial role in ensuring environmental sustainability and compliance with regulatory standards. The market encompasses a wide range of equipment designed to treat water used in industrial boilers, thereby optimizing performance and prolonging equipment life. You can access a sample PDF report here: https://www.statsndata.org/download-sample.php?id=97437 Recent developments in the market indicate a shift towards innovative technologies and strategic partnerships among key players. The rising demand for clean and sustainable water solutions is driving the adoption of advanced water treatment technologies. In addition, collaborations between equipment manufacturers and technology providers are fostering the development of smarter, more efficient systems. These advancements are crucial as industries seek to minimize operational costs while enhancing productivity. Market participants are increasingly focused on delivering actionable insights to address the current trends and evolving dynamics of the Industrial Boiler Water Treatment Equipment Market. As organizations strive to become more environmentally conscious, the demand for efficient water treatment solutions is expected to rise, presenting an opportunity for growth in this sector. Key Growth Drivers and Trends Several critical factors are influencing the demand for industrial boiler water treatment equipment. Sustainability is at the forefront, as businesses increasingly prioritize environmentally friendly practices. The need to reduce water consumption and minimize waste is pushing organizations to invest in more efficient water treatment systems. Digitization is another significant trend impacting the market. The integration of digital technologies allows for real-time monitoring and control of water treatment processes, enhancing efficiency and reducing downtime. Companies are harnessing data analytics and IoT platforms to optimize their operations, leading to better decision-making and improved performance. Consumer awareness is also contributing to the market's growth. Industrial clients are becoming more informed about the environmental and economic benefits of investing in advanced water treatment technologies. This awareness is prompting organizations to seek out innovative solutions that not only meet their operational needs but also align with their sustainability goals. Emerging technologies such as artificial intelligence (AI) are shaping the future landscape of the industrial boiler water treatment market. AI can help in predictive maintenance, optimizing treatment processes, and enhancing overall efficiency. Customization of products and services is another trend gaining traction, with manufacturers offering tailored solutions to meet specific industry requirements. Market Segmentation The Industrial Boiler Water Treatment Equipment Market can be segmented based on type and application, providing a clearer perspective on the various facets of this industry. - Segment by Type: - Reverse Osmosis Equipment - Water Softening Equipment - Filter Equipment - Segment by Application: - Oil Refineries - Paper Mills - Food & Beverage - Others Each segment plays a vital role in the market's overall dynamics. For instance, reverse osmosis equipment is essential for removing impurities and ensuring water quality, particularly in industries with stringent quality requirements like food and beverage. Water softening equipment is crucial for preventing scale buildup in boilers, which can lead to reduced efficiency and increased operational costs. Filter equipment is equally important for maintaining water purity and protecting boiler components. Get 30% Discount On Full Report: https://www.statsndata.org/ask-for-discount.php?id=97437 Competitive Landscape The competitive landscape of the Industrial Boiler Water Treatment Equipment Market is characterized by several key players who are driving innovation and shaping industry trends. These companies include: - Veolia Water Technologies: Known for its extensive portfolio of water treatment solutions, Veolia focuses on sustainable practices and technological advancements to enhance operational efficiency. - Suez: A leader in water management, Suez is committed to providing cutting-edge solutions that address water scarcity and quality challenges. - Kurita Water Industries: This company specializes in water treatment chemicals and services, offering customized solutions tailored to various industrial applications. - Pentair: Renowned for its innovative water treatment technologies, Pentair provides a range of solutions aimed at improving water quality and reducing operational costs. - Ecolab: Ecolab is a global leader in water, hygiene, and energy technologies, offering integrated solutions to enhance water management across industries. - ChemTreat: With a focus on water treatment chemicals and services, ChemTreat delivers tailored solutions to optimize water usage and minimize waste. - Solenis: Solenis combines advanced chemistry and technology to provide effective water treatment solutions, emphasizing sustainability and efficiency. - Evoqua Water Technologies: Evoqua focuses on providing water treatment solutions that ensure compliance with environmental regulations while enhancing operational efficiency. - Aquatech International: Specializing in water purification and wastewater treatment, Aquatech offers innovative solutions to meet the evolving needs of various industries. - Beijing Zhongtianhengyuan: This company is known for its contributions to water treatment technologies, focusing on advancements that promote sustainability. - Thermax: Thermax provides a wide range of water treatment solutions, emphasizing energy efficiency and sustainable practices. These companies are not only pivotal in shaping market trends but also play a crucial role in driving innovation through product developments, market expansions, and strategic partnerships. Opportunities and Challenges The Industrial Boiler Water Treatment Equipment Market presents numerous opportunities for growth, particularly in untapped regions and evolving consumer preferences. As industries increasingly prioritize sustainability, there is a growing demand for advanced water treatment solutions. Companies that can provide innovative, efficient, and environmentally friendly products are well-positioned to capture market share. However, challenges remain, including regulatory constraints that can hinder market entry and operational efficiencies that may affect productivity. Talent shortages in specialized fields also pose a challenge for companies looking to innovate and grow. Addressing these challenges requires strategic planning and investment in workforce development. To navigate these obstacles, companies can focus on building strong partnerships with regulatory bodies and investing in employee training and development programs. Emphasizing research and development can also foster innovation, allowing organizations to stay ahead of market trends and consumer demands. Technological Advancements Technological advancements are playing a crucial role in reshaping the Industrial Boiler Water Treatment Equipment Market. The integration of cutting-edge technologies such as artificial intelligence, machine learning, and IoT-driven systems is revolutionizing water treatment processes. These technologies enable real-time monitoring, predictive maintenance, and enhanced efficiency, ultimately leading to cost savings and improved performance. AI-driven systems can analyze vast amounts of data to optimize treatment processes, while IoT solutions facilitate remote monitoring and control, ensuring that water treatment systems operate at peak efficiency. Virtual tools are also becoming increasingly popular, providing companies with the ability to simulate and optimize treatment processes before implementation. As these technologies continue to evolve, they are expected to drive further innovation in the market, creating opportunities for companies to enhance their product offerings and improve service delivery. Research Methodology and Insights The insights presented in this press release are based on rigorous research methodologies employed by STATS N DATA. The approach includes both top-down and bottom-up methodologies to ensure comprehensive market coverage. Primary and secondary research techniques were utilized to gather data from industry experts, market participants, and reputable sources. Triangulation methods were employed to validate findings and ensure the accuracy of insights. This meticulous research process enables STATS N DATA to deliver accurate, reliable, and actionable insights into the Industrial Boiler Water Treatment Equipment Market. In conclusion, the Industrial Boiler Water Treatment Equipment Market is poised for significant growth, driven by technological advancements, sustainability initiatives, and rising consumer awareness. As the industry continues to evolve, companies that embrace innovation and prioritize efficient water treatment solutions will thrive in this dynamic landscape. With the support of detailed research and insights, stakeholders can make informed decisions that drive success in this vital market. For customization requests, please visit: https://www.statsndata.org/request-customization.php?id=97437 Full Industrial Boiler Water Treatment Equipment Market Report Link: https://www.statsndata.org/report/Global-Industrial-Boiler-Water-Treatment-Equipment-Market-97437 Related Reports: Conjoint Analysis Software Market https://www.statsndata.org/report/conjoint-analysis-software-market-129531 Synthetic Mentha Oil Market https://www.statsndata.org/report/synthetic-mentha-oil-market-99335 Ready to Eat Meat for Sous Vide Market https://www.statsndata.org/report/ready-to-eat-meat-for-sous-vide-market-30214 AI Sales Assistant Software Market https://www.statsndata.org/report/ai-sales-assistant-software-market-7190 Travel Mosquito Nets Market https://www.statsndata.org/report/travel-mosquito-nets-market-353078 John Jones Sales & Marketing Head | Stats N Data Phone: +1 (315) 642-4324 Email: sales@statsndata.org Website: www.statsndata.org STATS N DATA is a trusted provider of industry intelligence and market research, delivering actionable insights to businesses across diverse sectors. We specialize in helping organizations navigate complex markets with advanced analytics, detailed market segmentation, and strategic guidance. Our expertise spans industries including technology, healthcare, telecommunications, energy, food & beverages, and more. Committed to accuracy and innovation, we provide tailored reports that empower clients to make informed decisions, identify emerging opportunities, and achieve sustainable growth. Our team of skilled analysts leverages cutting-edge methodologies to ensure every report addresses the unique challenges of our clients. At STATS N DATA, we transform data into knowledge and insights into success. Partner with us to gain a competitive edge in today's fast-paced business environment. For more information, visit https://www.statsndata.org or contact us today at sales@statsndata.org This release was published on openPR.
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