By JILL COLVIN and STEPHEN GROVES WASHINGTON (AP) — After several weeks working mostly behind closed doors, Vice President-elect JD Vance returned to Capitol Hill this week in a new, more visible role: Helping Donald Trump try to get his most contentious Cabinet picks to confirmation in the Senate, where Vance has served for the last two years. Vance arrived at the Capitol on Wednesday with former Rep. Matt Gaetz and spent the morning sitting in on meetings between Trump’s choice for attorney general and key Republicans, including members of the Senate Judiciary Committee. The effort was for naught: Gaetz announced a day later that he was withdrawing his name amid scrutiny over sex trafficking allegations and the reality that he was unlikely to be confirmed. Thursday morning Vance was back, this time accompanying Pete Hegseth, the “Fox & Friends Weekend” host whom Trump has tapped to be the next secretary of defense. Hegseth also has faced allegations of sexual assault that he denies. Vance is expected to accompany other nominees for meetings in coming weeks as he tries to leverage the two years he has spent in the Senate to help push through Trump’s picks. Vice President-elect JD Vance, still a Republican senator from Ohio, walks from a private meeting with President-elect Donald Trump’s nominee to be attorney general, former Rep. Matt Gaetz, R-Fla., at the Capitol in Washington, Wednesday, Nov. 20, 2024. (AP Photo/J. Scott Applewhite) President-elect Donald Trump’s nominee to be attorney general, former Rep. Matt Gaetz, R-Fla., center, and Vice President-elect JD Vance, left, walk out of a meeting with Republican Senate Judiciary Committee members, at the Capitol in Washington, Wednesday, Nov. 20, 2024. (AP Photo/Ben Curtis) FILE – Sen. JD Vance, R-Ohio, departs the chamber at the Capitol in Washington, March 15, 2023. (AP Photo/J. Scott Applewhite, File) FILE – Sen. JD Vance, R-Ohio, center speaks during a Senate Banking Committee hearing on Capitol Hill in Washington, March 7, 2023. (AP Photo/Andrew Harnik, File) FILE – Sen. JD Vance, R-Ohio, right, speaks with Sen. Sherrod Brown, D-Ohio, before testifying at a hearing, March 9, 2023, in Washington. (AP Photo/Kevin Wolf, File) FILE – Sen. JD Vance, R-Ohio, arrives for a classified briefing on China, at the Capitol in Washington, Feb. 15, 2023. (AP Photo/J. Scott Applewhite, File) FILE – Sen. JD Vance, R-Ohio, arrives for a vote on Capitol Hill, Sept. 12, 2023 in Washington. (AP Photo/Mark Schiefelbein, File) FILE – Sen. JD Vance R-Ohio speaks during a news conference on Capitol Hill in Washington, Feb. 6, 2024. (AP Photo/Jose Luis Magana, File) Vice President-elect JD Vance, still a Republican senator from Ohio, walks from a private meeting with President-elect Donald Trump’s nominee to be attorney general, former Rep. Matt Gaetz, R-Fla., at the Capitol in Washington, Wednesday, Nov. 20, 2024. (AP Photo/J. Scott Applewhite) The role of introducing nominees around Capitol Hill is an unusual one for a vice president-elect. Usually the job goes to a former senator who has close relationships on the Hill, or a more junior aide. But this time the role fits Vance, said Marc Short, who served as Trump’s first director of legislative affairs as well as chief of staff to Trump’s first vice president, Mike Pence, who spent more than a decade in Congress and led the former president’s transition ahead of his first term. ”JD probably has a lot of current allies in the Senate and so it makes sense to have him utilized in that capacity,” Short said. Unlike the first Trump transition, which played out before cameras at Trump Tower in New York and at the president-elect’s golf club in Bedminster, New Jersey, this one has largely happened behind closed doors in Palm Beach, Florida. There, a small group of officials and aides meet daily at Trump’s Mar-a-Lago resort to run through possible contenders and interview job candidates. The group includes Elon Musk, the billionaire who has spent so much time at the club that Trump has joked he can’t get rid of him. Vance has been a constant presence, even as he’s kept a lower profile. The Ohio senator has spent much of the last two weeks in Palm Beach, according to people familiar with his plans, playing an active role in the transition, on which he serves as honorary chair. Vance has been staying at a cottage on the property of the gilded club, where rooms are adorned with cherubs, oriental rugs and intricate golden inlays. It’s a world away from the famously hardscrabble upbringing that Vance documented in the memoir that made him famous, “Hillbilly Elegy.” His young children have also joined him at Mar-a-Lago, at times. Vance was photographed in shorts and a polo shirt playing with his kids on the seawall of the property with a large palm frond, a U.S. Secret Service robotic security dog in the distance. On the rare days when he is not in Palm Beach, Vance has been joining the sessions remotely via Zoom. Though he has taken a break from TV interviews after months of constant appearances, Vance has been active in the meetings, which began immediately after the election and include interviews and as well as presentations on candidates’ pluses and minuses. Among those interviewed: Contenders to replace FBI Director Christopher Wray , as Vance wrote in a since-deleted social media post. Defending himself from criticism that he’d missed a Senate vote in which one of President Joe Biden’s judicial nominees was confirmed, Vance wrote that he was meeting at the time “with President Trump to interview multiple positions for our government, including for FBI Director.” “I tend to think it’s more important to get an FBI director who will dismantle the deep state than it is for Republicans to lose a vote 49-46 rather than 49-45,” Vance added on X. “But that’s just me.” While Vance did not come in to the transition with a list of people he wanted to see in specific roles, he and his friend, Trump’s eldest son, Donald Trump Jr., who is also a member of the transition team, were eager to see former Democratic Rep. Tulsi Gabbard and Robert F. Kennedy Jr. find roles in the administration. Trump ended up selecting Gabbard as the next director of national intelligence , a powerful position that sits atop the nation’s spy agencies and acts as the president’s top intelligence adviser. And he chose Kennedy to lead the Department of Health and Human Services , a massive agency that oversees everything from drug and food safety to Medicare and Medicaid. Vance was also a big booster of Tom Homan, the former acting director of Immigration and Customs Enforcement, who will serve as Trump’s “border czar.” In another sign of Vance’s influence, James Braid, a top aide to the senator, is expected to serve as Trump’s legislative affairs director. Allies say it’s too early to discuss what portfolio Vance might take on in the White House. While he gravitates to issues like trade, immigration and tech policy, Vance sees his role as doing whatever Trump needs. Vance was spotted days after the election giving his son’s Boy Scout troop a tour of the Capitol and was there the day of leadership elections. He returned in earnest this week, first with Gaetz — arguably Trump’s most divisive pick — and then Hegseth, who has was been accused of sexually assaulting a woman in 2017, according to an investigative report made public this week. Hegseth told police at the time that the encounter had been consensual and denied any wrongdoing. Vance hosted Hegseth in his Senate office as GOP senators, including those who sit on the Senate Armed Services Committee, filtered in to meet with the nominee for defense secretary. While a president’s nominees usually visit individual senators’ offices, meeting them on their own turf, the freshman senator — who is accompanied everywhere by a large Secret Service detail that makes moving around more unwieldy — instead brought Gaetz to a room in the Capitol on Wednesday and Hegseth to his office on Thursday. Senators came to them. Vance made it to votes Wednesday and Thursday, but missed others on Thursday afternoon. Vance is expected to continue to leverage his relationships in the Senate after Trump takes office. But many Republicans there have longer relationships with Trump himself. Sen. Kevin Cramer, a North Dakota Republican, said that Trump was often the first person to call him back when he was trying to reach high-level White House officials during Trump’s first term. “He has the most active Rolodex of just about anybody I’ve ever known,” Cramer said, adding that Vance would make a good addition. “They’ll divide names up by who has the most persuasion here,” Cramer said, but added, “Whoever his liaison is will not work as hard at it as he will.” Cramer was complimentary of the Ohio senator, saying he was “pleasant” and ” interesting” to be around. ′′He doesn’t have the long relationships,” he said. “But we all like people that have done what we’ve done. I mean, that’s sort of a natural kinship, just probably not as personally tied.” Under the Constitution, Vance will also have a role presiding over the Senate and breaking tie votes. But he’s not likely to be needed for that as often as was Kamala Harris, who broke a record number of ties for Democrats as vice president, since Republicans will have a bigger cushion in the chamber next year. Colvin reported from New York. Associated Press writer Mary Clare Jalonick contributed to this report.Quarterly net revenues were RMB539.4 million (US$76.9 million) 1 Quarterly lidar shipments were 134,208 units SHANGHAI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Hesai Group (“Hesai” or the “Company”), (NASDAQ: HSAI), the global leader in three-dimensional light detection and ranging (lidar) solutions, today announced its unaudited financial results for the three months ended September 30, 2024. Operational Highlights Q3 2024 ADAS lidar shipments were 129,913 units, representing an increase of 220.0% from 40,593 units in the corresponding period of 2023. Q3 2024 Total lidar shipments were 134,208 units, representing an increase of 182.9% from 47,440 units in the corresponding period of 2023. ADAS lidar shipments in the first nine months of 2024 were 263,148 units, representing an increase of 129.9% from 114,482 units in the corresponding period of 2023. Total lidar shipments in the first nine months of 2024 were 279,835 units, representing an increase of 108.2% from 134,380 units in the corresponding period of 2023. Management Remarks “We are thrilled to share that our business continues to thrive and advance on a strong growth path,” said Yifan “David” Li, Hesai’s Co-Founder and CEO. “This quarter, we have made significant strides in the ADAS market, securing new design wins, partnerships, and development programs with key players, including a Top 3 OEM in Japan, SAIC Volkswagen, Leapmotor, and a premium EV brand backed by a leading Chinese automotive group. We also have reached a key milestone in our global expansion by successfully delivering B-sample units for our worldwide shipping programs with a leading global automotive OEM. OEMs at home and abroad have widely recognized lidar's essential safety features as a critical component in their holistic safety systems, similar to an ‘active’ seat belt or airbag. Furthermore, lidar’s versatility, with applications in emerging areas such as industrial robotics, smart factories and logistics, continues to garner attention. Our latest flagship product, OT128, a 360° mechanical, automotive-grade long-range lidar, is designed for scalable deployment in robotaxi and industrial applications. We are actively exploring new use cases and engaging with customers across both ADAS and AM sectors, leveraging our full lineup of versatile lidars. “I am also delighted to announce that Andrew Fan has joined us as our Chief Financial Officer. Andrew brings a wealth of experience in financial strategy and corporate finance, as well as an impressive track record of driving growth and operational efficiency in dynamic industries. His insights and leadership will be invaluable as we navigate the evolving landscape and continue to strengthen our position in the global lidar industry,” Dr. Li continued. “Andrew's strategic vision aligns seamlessly with our goals, and I believe his commitment to innovation and financial rigor will help us unlock new levels of success. I am confident that with his expertise and dedication, we are well-positioned for another exciting chapter of growth and accomplishment.” Mr. Andrew Fan, Hesai’s CFO, added, “Our strong third quarter financial performance was highlighted by robust operational execution across all key metrics. Quarterly shipment volume reached 134,208 units, marking our second consecutive quarter of nearly 50% sequential growth and propelling net revenues to RMB539.4 million (US$76.9 million), surpassing the upper range of our guidance. We maintained a robust blended gross margin of 47.7%, driven by effective cost management and our flywheel approach to cost and scale optimization. The margin was further bolstered by NRE revenues from our L4 lidar, which is being prepared for potential large-scale deployment by a leading global robotaxi player in the coming years. Our strong commitment to operational efficiency and financial discipline has also enabled us to consistently reduce our GAAP net loss for four consecutive quarters. Looking ahead, we’re expecting a record-breaking fourth quarter, with lidar shipments projected to reach 200,000 units—an astounding volume nearly matching our total shipments in 2023. Based on our current estimates, fourth quarter net revenues are expected to soar to nearly US$100 million, delivering an estimated net profit of US$20 million and a positive operating cash flow. Additionally, we anticipate achieving full-year profitability on a non-GAAP basis for 2024, positioning us to become the first automotive lidar company worldwide to achieve this remarkable milestone. This anticipated explosive growth underscores our robust momentum as we drive toward a landmark fiscal year finish!” Product Updates : Launched the OT128, the Company’s latest flagship 360° mechanical automotive-grade long-range lidar product, at the 2024 IAA Transportation Fair in Germany. Inheriting 95% of the key components from Hesai's best-selling AT128P ADAS lidar, the OT128 boasts a point rate of 3.45 million per second and a 200-meter detection range at 10% reflectivity. This high-performance, 360-degree perception lidar with a market-proven, vertically integrated architecture makes OT128 an ideal solution for scalable applications, including robotaxis, industrial robotics, smart factories, and logistics. Since its launch, the OT128 has secured contracts with 90+ global and domestic clients, including WeRide, Westwell, Embotech and EasyMile. Production and delivery of the OT128 have already begun. Business Updates : Global: Hesai’s worldwide shipping programs with a leading global automotive OEM have progressed to the successful delivery of B-sample units, a key step in validating the performance of the Company’s technology and ensuring alignment with the partner’s rigorous standards. Secured two new development projects, specifically Proof of Concept (POC) programs, in the Asia market with a Top 3 OEM in Japan, covering both L2+ passenger vehicles and L4 robotaxi applications. Hesai currently has four POC programs underway with three global OEMs, each holding strong potential as these partnerships move toward the next phase. Domestic: Secured another new platform with Leapmotor, a leading EV automaker in China, as well as facelifts for two flagship models with a premium EV brand backed by a leading Chinese automotive group. A leading EV manufacturer in China has signed agreements to exclusively adopt Hesai’s L3 ultra-high-performance lidar and cost-efficient ATX lidar for their 2025 models. The ATX is advancing toward the SOP phase, generating strong interest as a standard feature in 2025 OEM lineups. Signed a cooperative framework with SAIC Volkswagen for an automotive lidar program, elevating the Company’s position to a strategic supplier for this top-selling automotive joint venture in China by sales volume. Hesai has secured ADAS design wins with 20 OEMs globally across 75 vehicle models. Management Change The Board of Directors of the Company (the "Board") has approved the appointment of Mr. Andrew Fan as the Company’s Chief Financial Officer, effective November 25, 2024. Mr. Fan has over 18 years of experience in accounting and corporate financing. From May 2021 to September 2024, Mr. Fan held the position of chief financial officer at a leading automotive technology company. Prior to that, Mr. Fan held senior finance-related roles at listed companies including Hailiang Education Group Inc., Aesthetic Medical International Holdings Group Limited, and Dali Foods Group Company Limited, and various roles at financial institutions including Deutsche Bank, HSBC, and Macquarie. Additionally, Mr. Fan has served as an independent non-executive director of Jiangsu Innovative Ecological New Materials Limited (HKEX: 2116) since 2018. Mr. Fan graduated from Tsinghua University, with bachelor’s and master’s degrees in accounting in 2004 and 2006, respectively. Financial Highlights for the Third Quarter of 2024 (in RMB millions, except for per ordinary share data and percentage) Net revenues were RMB539.4 million (US$76.9 million) for the third quarter of 2024, representing an increase of 21.1% from RMB445.6 million for the same period of 2023. Product revenues were RMB503.1 million (US$71.7 million) for the third quarter of 2024, representing an increase of 18.1% from RMB425.8 million for the same period of 2023. The year-over-year increase was mainly attributable to increased revenues from sales of ADAS lidar products due to robust demand in China, partially offset by decreased revenues from the autonomous driving business. Service revenues were RMB36.3 million (US$5.2 million) for the third quarter of 2024, representing an increase of 84.1% from RMB19.7 million for the same period of 2023. The year-over-year increase was driven by increased revenues from non-recurring engineering services. Cost of revenues was RMB281.9 million (US$40.2 million) for the third quarter of 2024, representing a decrease of 8.9% from RMB309.4 million for the same period of 2023. Gross margin was 47.7% for the third quarter of 2024, compared with 30.6% for the same period of 2023. The year-over-year increase was due to effective cost and scale optimization on both Autonomous Mobility lidars and ADAS lidars, as well as the higher margin contributed by non-recurring engineering services performed. Sales and marketing expenses were RMB46.2 million (US$6.6 million) for the third quarter of 2024, representing an increase of 25.5% from RMB36.8 million for the same period of 2023. The year-over-year increase was primarily due to increased payroll expenses and share-based expenses of RMB8.5 million (US$1.2 million) attributable to an expanded sales and marketing team. General and administrative expenses were RMB76.5 million (US$10.9 million) for the third quarter of 2024, representing a decrease of 5.0% from RMB80.5 million for the same period of 2023. Research and development expenses were RMB220.2 million (US$31.4 million) for the third quarter of 2024, representing an increase of 14.3% from RMB192.6 million for the same period of 2023. The year-over-year increase was mainly due to increased payroll expenses of RMB18.8 million (US$2.7 million) attributable to increased headcount for research and development, and increased depreciation expenses amounting to RMB9.7 million (US$1.4 million). Loss from operations was RMB77.2 million (US$11.0 million) for the third quarter of 2024, representing a decrease of 53.8% from RMB167.2 million for the same period of 2023. Excluding share-based compensation expenses, non-GAAP loss from operations was RMB50.9 million (US$7.3 million) for the third quarter of 2024, compared with RMB127.4 million for the same period of 2023. Net loss was RMB70.4 million (US$10.0 million) for the third quarter of 2024, compared with RMB141.8 million for the same period of 2023. Excluding share-based compensation expenses, non-GAAP net loss was RMB44.0 million (US$6.3 million) for the third quarter of 2024, compared with RMB101.9 million for the same period of 2023. Net loss attributable to ordinary shareholders of the Company was RMB70.4 million (US$10.0 million) for the third quarter of 2024, compared with RMB141.8 million for the same period of 2023. Excluding share-based compensation expenses, non-GAAP net loss attributable to ordinary shareholders of the Company was RMB44.0 million (US$6.3 million) for the third quarter of 2024, compared with RMB101.9 million for the same period of 2023. Basic and diluted net loss per ordinary share were both RMB0.54 (US$0.08) for the third quarter of 2024. Excluding share-based compensation expenses, non-GAAP basic and diluted net loss per ordinary share were both RMB0.34 (US$0.05) for the third quarter of 2024. Cash and cash equivalents, restricted cash and short-term investments were RMB2,530.7 million (US$360.6 million) as of September 30, 2024, compared with RMB2,752.9 million as of June 30, 2024. Business Outlook For the fourth quarter of 2024, the Company expects net revenues to approach US$100 million (RMB702 million). The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Conference Call The Company’s management will host an earnings conference call at 8:00 PM U.S. Eastern Time on November 25, 2024 (9:00 AM Beijing/Hong Kong Time on November 26, 2024). For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call. Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://investor.hesaitech.com . A replay of the conference call will be accessible approximately an hour after the conclusion of the call until December 3, 2024, by dialing the following telephone numbers: About Hesai Hesai is the global leader in three-dimensional light detection and ranging (lidar) solutions. The Company’s lidar products enable a broad spectrum of applications across passenger and commercial vehicles with advanced driver assistance systems (ADAS) and autonomous vehicle fleets (autonomous mobility). Hesai's technology also empowers robotics applications such as last-mile delivery robots and logistics robots in restricted areas. The Company’s commercially validated solutions are backed by superior R&D capabilities across optics, mechanics, and electronics. Hesai integrates lidar designs with an in-house manufacturing process, facilitating rapid product development while ensuring high performance, consistent quality and affordability. Hesai has established strong relationships with leading automotive OEMs, autonomous vehicle, and robotics companies worldwide, covering over 40 countries as of December 31, 2023. Use of Non-GAAP Financial Measures To supplement Hesai's consolidated financial results presented in accordance with GAAP, Hesai uses the following measures defined as non-GAAP financial measures by the SEC: loss from operation excluding share-based compensation expenses, net loss excluding share-based compensation expenses, net loss attributable to ordinary shareholders excluding share-based compensation, and per ordinary share net loss attributable to ordinary shareholders excluding share-based compensation. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release. Hesai believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. Hesai believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to Hesai's historical performance and liquidity. Hesai believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using these non-GAAP financial measures is that they exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP financial measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.0176 to US$1.00, the exchange rate on September 30, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; the trends in, expected growth and the market size of the ADAS, autonomous mobility and robotics industries; the market for and adoption of lidar and related technology; the Company’s ability to produce high-quality products with wide market acceptance; the success of the Company’s customers in developing and commercializing products using its solutions, and the market acceptance of those products; the Company’s ability to introduce new products that meet its customers’ requirement; the Company’s expectations regarding the effectiveness of its marketing initiatives and the relationship with its third-party partners; competition in the Company’s industry; the Company’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to the Company’s industry; the Company’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: Hesai Group Yuanting “YT” Shi, Investor Relations Director Email: ir@hesaitech.com Piacente Financial Communications Jenny Cai Tel: +86 (10) 6508-0677 Email: hesai@tpg-ir.com In the United States: Piacente Financial Communications Brandi Piacente Tel: +1-212-481-2050 Email: hesai@tpg-ir.com Source: Hesai Group _______________________________________ 1 All translations from RMB to USD for the third quarter of 2024 were made at the exchange rate of RMB7.0176 to US$1.00, the exchange rate on September 30, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. 2 See “Use of Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” included in this release for further details.
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Interventional Cardiology and Peripheral Vascular Devices Market to See Rapid Expansion Over the Next Decade 2024-2032In a significant legal battle, the lawsuit between Arm Holdings and Qualcomm ended in a mistrial. The jury ruled in Qualcomm's favor on a critical licensing issue involving its central processor chips, resulting in a rise in Qualcomm's shares and a decline in Arm's stock. The Delaware federal court case could face a retrial, as Judge Maryellen Noreika encouraged both parties towards mediation, noting neither side secured a definitive victory. Deliberations lasted over nine hours but failed to produce a unanimous verdict on claims that Nuvia, a startup acquired by Qualcomm for $1.4 billion, violated its Arm license. The jury did, however, find Qualcomm's use of Nuvia technology in its chips to be properly licensed under Qualcomm's agreement with Arm, enabling further sales in the PC market. Qualcomm celebrated the decision, while Arm has yet to comment. Analysts expressed reduced concern over Qualcomm's future without Nuvia's technology. (With inputs from agencies.)
Black Friday is almost here, and Walmart is back again with some of the hottest deals on home goods! If you need a new bedding set or high-speed blender, now's the time to shop because so many home essentials are up to 70% off. Check out some of our favorite home deals below: 1. A warm leather and amber candle that smells way more expensive than it actually is. This candle will fill your room with a warm, musky, and cozy scent that'll make you feel like you're cuddled up in a chic hotel. Promising review: "Let's just say I love this particular candle so much I have four. It has become one of my favorite scents. These candles are quality items, smell great, and are long-lasting." — Morgan Price: $5 (originally $9.78) 2. And a candle warmer lamp to go with your new candle. This uses heat, not fire, to melt the wax, making it a much safer option for those who have animals or little ones running around the house. Promising review: "I have several half-used candle jars that I loved the smell so much I didn't want to throw away. Now I can enjoy them again! I love the dimmer, adjustable height, and timer options. Also, I like the fact that it plugs into the wall and does not require batteries." — Patricia Price: $18.99 (originally $29.99) 3. A faux fur memory foam bath mat , because the bane of your existence is cold tiles on wet feet. This'll keep you nice and cozy while providing shock support from hard floors. Price: $4 4. A countertop ice machine so you don't have to invest in a fancy fridge for automatic ice cubes. You can use it anywhere from your kitchen to your office at work, and even your RV! Promising review: "I was excited to begin using this ice maker. After reading the directions, I placed it in my RV and plugged it in. I added distilled water and turned the unit on. It began humming away and, within minutes, produced its first cubes. I love the idea that the cubes are contained in a plastic basket above the water reservoir. How genius! That way, if the cubes begin to melt, the water returns to the reservoir!" — Margaret Price: $53.99 (originally $129.99; available in two colors) 5. A ceramic kitchen canister set to add a bit of pizazz to your kitchen setup (AKA, give you a designated space to put all those miscellaneous coffee cans and sugar bags that are currently crowding your counter). Price: $20 6. A surround sound bar system , because watching a suspensful movie with surround sound feels like you're in the thick of the action. This pairs with most modern TVs and even has Bluetooth capabilities! Promising review: "Amazing product for the price. This is a legit, non-paid review. I was looking for a gift for my son's birthday, and he wanted a subwoofer for his room. Well, let me tell you that the bass is awesome. If you position the speakers around the room, you are in the movie." — J Price: $89.99 (originally $199.99) 7. An eight-piece reversible comforter set so that you can add a luxurious feel to your space at a fraction of the price. This set conveniently comes in a bag, meaning it stores super easily. It comes with one comforter , one quilt, two standard comforter shams, one flat sheet, one fitted sheet, and two standard pillowcases. Price: $28 (available in sizes queen–king and in two colors) 8. A Shark IQ robot vacuum , because your daily chores add up, and anything that can help take the load off is welcome. This vacuum memorizes your home's floor plan, maneuvering around corners and furniture to get all the dust and debris that accumulates throughout the day. Plus, it holds up to 60 days of dirt! How neat is that? Price: $248 (originally $499.99) 9. A Ninja single-serve blender so that you can extract necessary nutrients and vitamins from your favorite fruits and veggies. This blends directly into an on-the-go cup, making clean up after solo smoothies and protein shakes a breeze. Price: $25 (originally $49; available in four colors) 10. A hand towel and washcloth set so that you can add a hotel feel to your WC without dropping serious coin. Price: $4+ (available in three colors and two set sizes) 11. A 12-piece silicone cooking utensil set , because that one ladle you've had since 2006? Yeah, it's due for an upgrade. This set comes with everything you need to cook or bake your favorite meals. This set includes a slotted turner, a mini turner, a solid spoon, a mini solid spoon, a spatula, a mini spatula, a whisk, a mini whisk, tongs, a silicone spoon rest, and a silicone sponge. Price: $20 (originally $58.56) 12. And a 32-piece non-stick cookware and bakeware set , just in case your kitchen is due for a total makeover. Honestly, getting these many pots, pans, baking sheets, and cooking utensils for under 100 bucks is such a steal. You'll get an 8-inch frying pan, a 10-inch frying pan, a 2-quart saucepan with a matching lid, a 2.5-quart saucepan with a matching lid, a 5.5-quart Dutch oven with a matching lid, a lasagna pan, a pizza pan, a quarter sheet pan with a gold-tone rack, a medium baking sheet, a medium silicone baking sheet, plus a slotted spoon, a mixing spoon, a spatula, a slotted spatula, a serving spoon, a pasta fork, a basting brush, a silicone spoon rest, six measuring spoons, and four measuring cups. Price: $87 (originally $198) 13. An espresso machine with a steam wand that will save you soooo much money in the long run. Think of all the cappuccinos, lattes, and macchiatos you'll be getting from the comfort of your own home and NOT from the expensive coffee shop down the street. Promising review: "This Chefman espresso machine makes rich, flavorful coffee with ease. Its sleek design and user-friendly features make it a standout choice." — Adina Price: $50 14. A digital toaster and air fryer with space to toast six slices of bread at once! You can also use this to roast a whole chicken, dehydrate kale for kale chips, bake sweet treats, and air fry with almost no oil thanks to its patented Fry Force 360° Technology. Promising review: "This air fryer is my favorite one so far. It has several presets that make it super easy to use. It comes with more than one shelf, allowing me to cook different things simultaneously. I use it to cook just about every meal for the three of us." — heather Price: $50 (originally $99) 15. A pack of adhesive shower caddies , because a bathroom upgrade can look as simple as clearing your bathtub of products that are crowding the corners. Promising review: "I was worried that the adhesive wouldn't stick well to the wall, but to my surprise, it was super easy to install and looks great! The shelves are sturdy and can hold much weight without damaging the wall. Highly recommend for anyone looking for a simple and hassle-free solution." — Monica Price: $14.99+ (originally $69.99; available 2- or 3-packs, with a towel rack, and in four colors) 16. And an over-the-toilet storage shelf since your sink deserves the same treatment! You can finally take all your skincare off your sink and place them in a spot where they're just as easy to reach. It's also a great place to store extra hand towels, TP, and candles. Promising review: "I looked at a bunch of these over-the-toilet storage units before choosing this one. I'm impressed with the overall quality and stability. It looks nice, and has helped add some organization/storage to an extremely tiny bathroom. I found the assembly pretty straightforward." — Ali Price: $46.99 (originally $199.99; available in four colors) 17. A sleek TV console to add a MCM vibe to your place without spending a fortune on actual vintage MCM pieces. Promising review: "Love the brown color. Very nice with my 58” TV. Good material. My husband was able to set up well with instructions. Very quick delivery. Stated it would come by the end of the week and ended up showing up five days early, which was very unexpected. Delivered with care." — Eva Price: $53.99+ (originally $126.99; available in two colors) 18. A 7.5-qt stand mixer if you've always wanted to enjoy the power of a "paddle attachment" but have been saving a certain stand mixer for your wedding registry. This works just as well for whipping desserts and mixing batter. Promising review: "This is the first stand mixer I bought. I absolutely love it! I can double my thick oatmeal cookie dough without my arm getting sore lol. It works great and gets to the bottom of the bowl. The bowl is very nice as well. Very sturdy. It's also light enough to store in my pantry and pull out only as needed." — Miriam Price: $79.99 (originally $169+; available in four colors and a 6.3-quart size) 19. And an arched bookcase with doors will add a super luxe, city-like feel to your home while being the perfect place to hide more unsightly things like extra cords, sewing kits, hardware boxes — you get it. Promising review: "Truly has made our space warm and inviting. Took about two hours to assemble, but the instructions are straightforward and straightforward. Highly recommend!" — Dana Price: $309.99+ (originally $419.99+; available in three colors) You, shopping for new home goods at Walmart's Black Friday Sale : Reviews have been edited for length and/or clarity. Need ingredients for all your new recipes? Shop each recipe directly through the app, or check out Walmart’s grocery selection to get veggies, meat, seafood, and more delivered right to your door.