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Jordan Jones scores 18 to lead Central Connecticut over Johnson & Wales (RI) 100-51WASHINGTON (AP) — Pete Hegseth, President-elect Donald Trump’s nominee to lead the Defense Department, said he had a “wonderful conversation” with Maine Sen. Susan Collins on Wednesday as he pushed to win enough votes for confirmation. He said he will not back down after allegations of excessive drinking and sexual misconduct. Collins said after the hourlong meeting that she questioned Hegseth about the allegations amid reports of drinking and the revelation that he made a settlement payment after being accused of a sexual assault that he denies. She said she had a “good, substantive” discussion with Hegseth and “covered a wide range of topics,” including sexual assault in the military, Ukraine and NATO. But she said she would wait until a hearing, and notably a background check, to make a decision. “I asked virtually every question under the sun,” Collins told reporters as she left her office after the meeting. "I pressed him both on his position on military issues as well as the allegations against him, so I don’t think there was anything that we did not cover.” The meeting with Collins was closely watched as she is seen as more likely than most of her Republican Senate colleagues to vote against some of Trump’s Cabinet picks. She and Alaska Sen. Lisa Murkowski, a fellow moderate Republican, did not shy from opposing Trump in his first term when they wanted to do so and sometimes supported President Joe Biden’s nominees for the judicial and executive branches. And Hegseth, an infantry combat veteran and former “Fox & Friends” weekend host, is working to gain as many votes as he can as some senators have expressed concerns about his personal history and lack of management experience. “I’m certainly not going to assume anything about where the senator stands,” Hegseth said as he left Collins’ office. “This is a process that we respect and appreciate. And we hope, in time, overall, when we get through that committee and to the floor that we can earn her support.” Hegseth met with Murkowski on Tuesday. He has also been meeting repeatedly with Iowa Sen. Joni Ernst, a military veteran who has said she is a survivor of sexual assault and has spent time in the Senate working on improving how attacks are reported and prosecuted within the ranks. On Monday, Ernst said after a meeting with him that he had committed to selecting a senior official to prioritize those goals. Republicans will have a 53-49 majority next year, meaning Trump cannot lose more than three votes on any of his nominees. It is so far unclear whether Hegseth will have enough support, but Trump has stepped up his pressure on senators in the last week. “Pete is a WINNER, and there is nothing that can be done to change that!!!” Trump posted on his social media platform last week. On Thursday, Hegseth plans to meet with a Democrat — Pennsylvania Sen. John Fetterman. Fetterman confirmed the meeting to The Associated Press but did not say whether he was considering supporting Hegseth or what he planned to discuss. ___ Associated Press writer Ali Swenson contributed to this report. Mary Clare Jalonick And Matt Brown, The Associated Press
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The is upon us and as exhilarating this time of the year can be, it can also be overwhelming. Truth is, there is so much to consider. Between hosting dinners, shopping for gifts and traveling to see loved ones, our to-do lists are full. Sometimes it feels like there is never enough time to do it all and, if you’re someone like me who waits until the last minute to get things in order, you’re certainly feeling the pressure. While holiday shopping never seems to come easy, beauty and wellness are truly the gifts that keep on giving. Any contribution to someone’s health is memorable. It’s often a second thought for some, but as a recipient of this kind of gift, you’ll always find it useful. That said, in efforts to make your shopping experience easier this year, below, I put together a list of the perfect skincare and wellness items to potentially gift a pre-teen, family member, lover or a friend. Happy Holidays! As it pertains to skincare, kids don’t necessarily need a vigorous routine. However, they can benefit from the essential steps of maintenance and developing the act of caring for themselves. What better way to implement that practice than to give them their own mini regimen? includes a multivitamin gentle foam wash, a lightweight face cream and a mineral spf of 30. Great for your pre-teen and allows them to join in on self care with the family. Whether you’re an adult or a child, reassurance is vital. Activities like and act as an outlet for children to express their feelings and feed their emotions in a meaningful way. Customize this moment with their nickname or a familiar phrase and create a night out of the week to go over it together. After all, emotional wellness is the key to glowing and healthy skin! When I think of the holidays, I think of baked goods, good music and candles burning. Vacation has created a that includes their signature three pine blend, intended to fill the air with a crisp winter aroma. What makes this special is its premium giftable packaging, long-lasting burn time and most importantly its luxurious fragrance. Gift this on its own or pair it with other self care items—either way you can’t go wrong. One way to elevate your skincare experience and put a smile on your loved ones face is to gift them a set that they’ll stick to. Omorovicza has curated the perfect bundle, titled the , that includes the brand’s bestsellers. With diamond peptides as its hero ingredient, meant to feed into the skin’s longevity, it will certainly take anyone’s skin to the next level. I’d classify this as the ultimate stocking stuffer. Showering is more than just cleansing—it is an opportunity to relax, connect with your thoughts, and tap into affection. is not your ordinary showerhead. Its filtered system removes impurities, aiding in clearer skin and stronger hair. A daily ritual and two-in-one upgrade that you and your partner can enjoy together. Additionally, one way to spice up the intimacy between you and your lover is by introducing into your moments of pleasure. This natural, unscented lubrication is made in the form of a stone that doubles as a moisturizer. It also melts immediately upon contact with the skin. Due to its solid shape, it leaves no mess behind, making it great for travel or kept on your night stand for easy access. Look at it as a bonus to your passion for love. I know we’ve seen so many versions of light masks on our timelines, as it is one of the most popular skin care devices of today. For good reason, its benefits are extensive. If used correctly you’re bound to see results you’ll be proud of. operates on a clinical level and is one of the most effective devices I’ve experienced. It improves the skin barrier, muscle recovery, collagen and the body’s natural healing functionality. I’m sure you have a friend that has been interested in owning a treatment like this at home. Make this a special holiday for him or her. And speaking of skin, one area of the body that we often neglect are our hands. I had the opportunity to test out and, as someone who is constantly washing their hands and struggling with dryness, I approve of this cream. With its ultra-rich texture and low levels of retinol, this is designed as an overnight hand treatment. Great at restoring the skin, strengthening the nails and polishing the cuticles. The result? Your hands will slowly but surely become irresistibly soft. It’s highly functional packaging is not only aesthetically beautiful but it can also be used as a jewelry holder. Go and add this as a part of the gift to all of your friends this year.More than 40 years since the first American servicewomen were allowed to serve in combat, Idaho U.S. Sen. Jim Risch thinks the “jury’s still out” on how the U.S. military should manage women’s involvement in a war zone. The three-term Republican senator responded to a question over the weekend related to President-elect Donald Trump’s nomination of Fox News host Pete Hegseth to lead the Pentagon as U.S. defense secretary. Hegseth, who served in Iraq and Afghanistan as an Army National Guard member has said several times, including recently , that women shouldn’t serve in combat. “Look, I think it’s delusional for anybody to not agree that women in combat creates certain unique situations that have to be dealt with. I think the jury’s still out on how to do that,” Risch said in a panel appearance at the annual Halifax International Security Forum over the weekend. “I’m not a military person,” Risch continued. “I rely on the military to handle those kinds of things. What I demand of the military is that they focus on the No. 1 job they have, and that is winning, if indeed we get into combat. So I’ll leave that to them to sort that out.” Risch, 81, a senior member of the Senate Foreign Relations Committee , is expected to take over as chair of the influential committee when Republicans take control of Congress’s upper chamber in January. Previously as Idaho’s lieutenant governor, Risch also stepped in for six months as governor because of a presidential Cabinet appointment during the George W. Bush administration. Risch’s comments drew almost immediate scorn from the top commander of the Armed Forces in Canada, the host nation for the weekend event. Gen. Jennie Carignan, the first woman to hold the leading military position of the U.S.’s northern neighbor, called out Risch by name for suggesting the “idea that women are a distraction to defense and national security” or “some kind of social experiment,” the Associated Press reported . “I can’t believe that in 2024, we still have to justify the contribution of women to their defense and to their service in their country,” Carignan said . “And all the women sitting here in uniform, stepping in and deciding to get into harm’s way and fight for their country, need to be recognized for doing so.” Carignan received a standing ovation following her comments. “And that, folks, is the distraction, not the women themselves,” she added. Carignan, Canada’s chief of the defense staff after her appointment in July by Prime Minister Justin Trudeau, has served nearly 40 years in her nation’s military, including several international combat zones. Risch’s office did not respond Monday to the Idaho Statesman’s request for comment Women make up nearly one-fifth of US military With the withdrawal last week by former Rep. Matt Gaetz, R-Florida, for attorney general, Hegseth is now widely viewed as the most controversial of Trump’s unorthodox Cabinet picks. Hegseth is accused of sexually assaulting a woman in California in 2017 and has acknowledged paying her in a confidential settlement. In addition, Hegseth has ties to Christ Church, a Christian nationalist congregation based in Moscow, the Idaho Capital Sun reported . Risch’s fellow weekend panelist, U.S. Sen. Jeanne Shaheen, D-New Hampshire, also on the Senate Foreign Relations Committee, stood up for keeping women in the military in combat. Women currently make up nearly a fifth of the U.S. military, she said. “If women think they can’t participate fully in our military, take on combat roles, that’s going to have an impact on what women are willing to join our military,” Shaheen said . “That’s going to have a significant impact on our readiness, on our ability to do the mission of the men and women of the armed services, and I think that will be very clearly asked at the (confirmation) hearing for Mr. Hegseth.” She is involved in continuing to address the issue of sexual assault in the military until it is resolved, she said. Based on the allegations against him, Hegseth’s nomination could complicate those efforts, said Shaheen, a former governor of New Hampshire. “I don’t think having someone with a questionable record on that issue is a message to the women of the military that we want to send, or the women of the country that we want to send,” she said. U.S. Sen. Kevin Cramer, R-North Dakota, told Politco last week that he supports Hegseth for defense secretary. But he felt the nominee needed to walk back his prior statements about the future of U.S. servicewomen in combat to improve his chances of Senate confirmation. “The requirement for combat readiness has to be the same for women as it is for men,” Cramer said. “And there are a lot of women who have met that standard that a lot of men could not, in which case, why would you not allow women in combat?” Over the weekend, Risch, who said he considers Trump a friend, poked at those who have criticized the president-elect for choosing “loyalists” rather than people with clearer credentials for key Cabinet posts. “Well, duh. Who would you expect (him) to appoint, someone who’s not loyal?” Risch said , turning to Shaheen. “I suspect when you were governor, like I was, the list I had was pretty much made up of people who were loyal to me, and if they said they weren’t, they wouldn’t be on the list. So don’t be surprised at that.” ©2024 The Idaho Statesman. Visit idahostatesman.com . Distributed by Tribune Content Agency, LLC.
Five holiday wishes for the Minnesota WildHigher oil prices in 2021 led to a healthy rebound in global drilling activity the following year, helping production in areas such as the USA and Brazil reach new heights. Indications of a softening drilling market in certain areas were seen in 2023 but became more prominent in 2024 with lagging rig activity onshore USA and high-profile rig contract suspensions onshore and offshore Saudi Arabia. With OPEC+ agreeing on 5 December to extend its voluntary output cuts into 2025, there are indications that the market may shrink further as we enter 2025. Westwood’s latest Wells & Production Outlook indicates that, although there are undoubtedly some downward pressures for drilling, especially in the short-term, the global picture still has significant positives. Over the 2025-2031 period, Westwood forecasts an average of 53,000 wells to be spud annually. On a regional level, the Americas is expected to lead drilling activity, driven by the USA (68% of regional activity), followed by Asia, where China dominates with 81%. Africa and Europe will be driven by activities in Russia, which will account for 79% of wells spud in the region, while drilling activities in the Middle East are more even spread, with the largest country, Oman, representing 27%. Proportion of Global Wells Drilled by Region 2025-2031 Source: Westwood Wells & Production Outlook 2025-2031 Back in 2018, the first year covered by this edition of the report, 59,000 wells were drilled globally. This is more than any year since, and any year expected over the forecast. Indexing this year to 100, it becomes clear that Asia and the Middle East are both expected to improve on 2018 levels throughout the forecast, with the number of wells drilled 18% and 26% higher over the forecast respectively. For Asia, this will be driven by China, which is expected to continue drilling >10,000 wells per year, while other countries, such as Indonesia and Thailand, drill at greater rates. The Middle East is expected to see the largest improvement, averaging over 4,000 wells per year, as NOCs ramp up drilling operations in onshore unconventional projects and brownfield offshore projects. Conversely, Africa and Europe, which are collated into one region for this report, are expected to average 9,360 wells over the forecast, down 4% on 2018. The region that stands out most clearly however is the Americas – the largest driller but also the one with little to no forecast growth. Taking 2018, when 26,300 wells were drilled as 100, the average indexed rate of drilling over the forecast will be 72, with an average of 19,000 wells drilled per year. This compares to 95 (Africa and Europe), 118 (APAC) and 126 (Middle East). Regionally, North America (Canada and the USA) is expected to dominate, with drilling in the Lower 48 remaining the key driver of regional activity. However, the USA is not expected to return to previous drilling levels. Instead, the country is forecast to continue to be dominated by the theme of capital efficiency and profit over pure production growth. 2024, a year with low natural gas prices and high supply costs, has shown that if market conditions aren’t right, operators will not hesitate to reduce rig activity until market conditions improve. Drilling in 2024 is estimated to be 7% lower than 2023 and 40% below 2018. Indexed Change in Wells Drilled by Region 2018-2031 Source: Westwood Wells & Production Outlook 2025-2031 Technological and drilling advancements are likely to be a major theme over the forecast, with operators drilling longer laterals and U-turn wells to further extract maximum value from each well. This is expected to continue to put downward pressure on the number of wells required annually, with an annual average of 12,400 onshore development wells over the forecast, 2% below an annual average of 12,700 wells in a hindcast impacted by the COVID-19 demand destruction in 2020. The election of Donald Trump and his “drill baby drill” slogan is unlikely to receive much of a reaction from operators predicted to continue with their capital conscious approach. However, the expected rescinding of Biden’s pause on approvals of new LNG export agreements should support an uplift in drilling in the shale basins with a higher gas content, which has been hit particularly hard this year. Activity in the USA has settled into a new normal – with the previous levels of drilling highly unlikely to be seen again. For those service companies and rig contractors who can offer the technologies and rigs that are growing increasingly important to operators in the shale plays, there remains huge opportunities despite the reduction in the volume of wells drilled. Another reason for the decline in drilling activities in the Americas since 2018 is onshore Latin America, where there is a limited positive outlook except for Argentina. The entire region is on a downward curve over the forecast as dwindling reserves, poor economic factors and political unrest impact drilling activity. In Mexico, 52 onshore wells were drilled in 1H 2024, compared to 88 in 1H 2023, a 41% decline YoY. This comes despite several promising condensate discoveries in recent years (Ixachi, Quesqui and Baktegas) and the delivery of 10 newbuild land rigs. It is unclear what impact the new president, Claudia Sheinbaum, will have on an industry that subsequent governments have failed to materially improve. However, Westwood does expect some improvement on the low 2024 figure (estimated at 85 for the year), with an average of 126 onshore wells over the forecast. Americas Drilling Outlook by Country Source: Westwood Wells & Production Outlook 2025-2031 Other regional players, including Colombia and Peru, have consistently recorded drilling numbers below historic levels in recent years, and there is little indication of improvement. This is despite some bullish production forecasts and new schemes in most countries to raise production – something that has failed to translate into material production improvement in the past. Despite this, there are several areas of the Americas predicted to see major growth over the forecast, including Argentina, where activity has ramped up from a low of 430 well spuds in 2020 to 1,071 in 2023. Operators pledged investments of US$9 billion into the Vaca Muerta shale play in 2024 and is on track to beat 2023 with 546 development wells drilled in 1H 2024, up 11% YoY. Removing restrictions on investment has become the centrepiece of the current government, given historic issues. This, coupled with increased offtake routes, should see the number of wells drilled increase YoY to almost 1,500 by 2031, a potentially conservative number but one reflective of the challenges that remain. Latin America Onshore Drilling Outlook (Excl. Argentina) Source: Westwood Wells & Production Outlook 2025-2031 Argentina remains beset by economic problems, while any potential changes in the government could disrupt the industry as they have in the past. On a more practical level, a significant increase in both equipment, including onshore rigs, and export infrastructure is vital to ensuring that growth can be maintained. Another key bright spot is in the subsea sector, where the Americas is forecast to lead global demand for subsea development wells, accounting for 47% over the forecast period, a 37% increase on the hindcast. This reflects the increase in activity in the well-established Brazilian deepwater sector, which will lead subsea development with 360 wells spud. Guyana will also have an increase in activity, with 220 subsea development wells expected over the forecast. Furthermore, the recently sanctioned GranMorgu will kickstart an era of deepwater development drilling offshore Suriname. Petronas’ discoveries in Suriname’s Block 52, as well as Petrobras’ and Shell’s gas discoveries offshore Colombia, add further interest and upside potential in the buoyant deepwater region. Proportion of Global Subsea Tree Installations (RoW vs Americas) Source: Westwood Wells & Production Outlook 2025-2031, SubseaLogix Continued strong investment in the deepwater US Gulf of Mexico will also boost regional activity, with approximately 115 subsea trees installed over the forecast. At the same time, the first deepwater fields in the Falkland Islands, Mexico and the aforementioned Suriname are expected online, adding a combined 84 subsea development wells to this already dominant region for subsea activity. With more than 133,000 wells to be drilled over the forecast, the Americas continues to represent a major area for drilling. The region is expected to remain a bright spot for deepwater drilling, led by Brazil and Guyana, while onshore North America is expected to remain in high demand, albeit with activity in the Lower 48 settled into a new normal. Argentina is expected to be a bright spot in what is otherwise a more negative outlook onshore Latin America. Source: Westwood Global Energy Group
BUTTE COUNTY, Calif. — Much of Northern California has seen three days of substantial rain, leading to flooding in some parts of the region. In Butte County, crews had to rescue two people and a dog from a flooded roadway in the North Chico area, according to the Cal Fire/Butte County Fire Department. First responders went to Hicks Lane and Keefer Road on Thursday evening. The fire department said this roadway was not closed at the time. Butte County is one of several areas that has seen a lot of rain in recent days and will continue to see more on Friday. Follow live weather updates here . TRACK INTERACTIVE, DOPPLER RADAR Click here to see our interactive radar. DOWNLOAD OUR APP FOR THE LATEST Here is where you can download our app . Follow our KCRA weather team on social media Watch our forecasts on TV or online Here's where to find our latest video forecast . You can also watch a livestream of our latest newscast here . The banner on our website turns red when we're live. We're also streaming on the Very Local app for Roku, Apple TV or Amazon Fire TV. See more coverage of top California stories here | Download our app | Subscribe to our morning newsletter
Russia's Oreshnik Missile: A New Wave of Geopolitical TensionFirst Quarter Highlights Revenue grows 26% year-over-year to $628.0 million Calculated billings grows 13% year-over-year to $516.7 million Deferred revenue grows 27% year-over-year to $1,783.7 million GAAP net loss of $12.1 million compared to GAAP net loss of $33.5 million on a year-over-year basis Non-GAAP net income of $124.3 million compared to non-GAAP net income of $86.4 million on a year-over-year basis SAN JOSE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Zscaler, Inc. (Nasdaq: ZS), the leader in cloud security, today announced financial results for its first quarter of fiscal year 2025 , ended October 31, 2024. “Growing customer engagements and strong sales execution drove a solid Q1 with all metrics exceeding our guidance. The combination of Zero Trust and AI is creating exciting new opportunities, which we are well positioned to capture with our large and expanding platform,” said Jay Chaudhry, Chairman and CEO of Zscaler. “With our customer obsession, the world’s largest cybersecurity cloud, and an upleveled go-to-market machine, we are driving strong growth.” First Quarter Fiscal 2025 Financial Highlights Revenue: $628.0 million, an increase of 26% year-over-year. Income (loss) from operations: GAAP loss from operations was $30.7 million, or 5% of revenue, compared to $46.1 million, or 9% of revenue, in the first quarter of fiscal 2024. Non-GAAP income from operations was $134.1 million, or 21% of revenue, compared to $89.7 million, or 18% of revenue, in the first quarter of fiscal 2024. Net income (loss) : GAAP net loss was $12.1 million, compared to $33.5 million in the first quarter of fiscal 2024. Non-GAAP net income was $124.3 million, compared to $86.4 million in the first quarter of fiscal 2024. Net income (loss) per share, diluted: GAAP net loss per share was $0.08, compared to $0.23 in the first quarter of fiscal 2024. Non-GAAP net income per share was $0.77, compared to $0.55 in the first quarter of fiscal 2024. Cash flows: Cash provided by operations was $331.3 million, or 53% of revenue, compared to $260.8 million, or 53% of revenue, in the first quarter of fiscal 2024. Free cash flow was $291.9 million, or 46% of revenue, compared to $224.7 million, or 45% of revenue, in the first quarter of fiscal 2024. Deferred revenue: $1,783.7 million as of October 31, 2024, an increase of 27% year-over-year. Cash, cash equivalents and short-term investments: $2,707.9 million as of October 31, 2024, an increase of $298.2 million from July 31, 2024. Recent B usiness Highlights Zscaler’s cloud security platform reached a new scalability milestone, surpassing half a trillion daily transactions, which is nearly 60 times greater than the total number of Google searches per day. This milestone underscores the unparalleled scalability, resilience, and trust customers have placed in the Zscaler platform, which enables organizations to secure users, applications, and devices, while simplifying operations and consolidating costs. Appointed Adam Geller as Chief Product Officer to accelerate Zscaler’s next phase of innovation and growth. Geller’s proven security product and engineering experience will be invaluable to the development of Zscaler’s AI-driven security operations platform. Announced a set of AI and Zero Trust integrations with the CrowdStrike Falcon® cybersecurity platform to advance security operations by providing advanced threat detection, response, and risk management. Announced four new integrations with Okta designed to accelerate joint customers' Zero Trust transformation by delivering end-to-end, context-aware security. Together, Okta and Zscaler are helping customers reduce risk, improve the user experience, and enable cross-domain response through shared telemetry and threat intelligence. Published the Zscaler ThreatLabz 2024 Mobile, IoT, and OT Threat Report, which provides detailed insights covering mobile and IoT/OT cyber threat landscape from June 2023 through May 2024. ThreatLabz found that the Zscaler cloud blocked 45% more IoT malware transactions than last year–indicating botnets continue to proliferate across IoT devices. Change in Non-GAAP Measures Presentation Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change. Financial Outlook For the second quarter of fiscal 2025, we expect: Revenue of $633 million to $635 million Non-GAAP income from operations of $126 million to $128 million Non-GAAP net income per share of approximately $0.68 to $0.69, assuming approximately 163 million fully diluted shares outstanding and a non-GAAP tax rate of 23% For the full year of fiscal 2025, we expect: Revenue of approximately $2.623 billion to $2.643 billion Calculated billings of $3.124 billion to $3.149 billion Non-GAAP income from operations of $549 million to $559 million Non-GAAP net income per share of $2.94 to $2.99, assuming approximately 164 million fully diluted shares outstanding and a non-GAAP tax rate of 23% These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. Guidance for non-GAAP income from operations excludes stock-based compensation expense and related employer payroll taxes, amortization of debt issuance costs, and amortization expense of acquired intangible assets. We have not reconciled our expectations of non-GAAP income from operations and non-GAAP net income per share to their most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. For those reasons, we are also unable to address the probable significance of the unavailable information, the variability of which may have a significant impact on future results. Accordingly, a reconciliation for the guidance for non-GAAP income from operations and non-GAAP net income per share is not available without unreasonable effort. For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the "Explanation of Non-GAAP Financial Measures" section of this press release. Conference Call and Webcast Information Zscaler will host a conference call for analysts and investors to discuss its first quarter of fiscal 2025 and outlook for its second quarter of fiscal 2025 and full year fiscal 2025 today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). Upcoming Conferences Second quarter of fiscal 2025 investor conference participation schedule: UBS Global Technology and AI Conference in Scottsdale Wednesday, December 4, 2024 BTIG Virtual Software Forum Monday, December 9, 2024 Scotiabank Annual Global Technology Conference in San Francisco Tuesday, December 10, 2024 Barclays Annual Global Technology Conference in San Francisco Wednesday, December 11, 2024 Needham Growth Conference Thursday, January 9, 2025 and Friday, January 10, 2025 Sessions which offer a webcast will be available on the Investor Relations section of the Zscaler website at https://ir.zscaler.com/ Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding our future financial and operating performance, including our financial outlook for the second quarter of fiscal 2025 and full year fiscal 2025. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including but not limited to: macroeconomic influences and instability, geopolitical events, operations and financial results and the economy in general; risks related to the use of AI in our platform; our limited operating history; our ability to identify and effectively implement the necessary changes to address execution challenges; risks associated with managing our rapid growth, including fluctuations from period to period; our limited experience with new products and subscriptions and support introductions and the risks associated with new products and subscription and support offerings, including the discovery of software bugs; our ability to attract and retain new customers; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support; rapidly evolving technological developments in the market for network security products and subscription and support offerings and our ability to remain competitive; length of sales cycles; useful lives of our assets and other estimates; and general market, political, economic and business conditions. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” set forth from time to time in our filings and reports with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, filed on September 12, 2024, as well as future filings and reports by us, copies of which are available on our website at ir.zscaler.com and on the SEC’s website at www.sec.gov. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Use of Non-GAAP Financial Information We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the “Explanation of Non-GAAP Financial Measures” section of this press release. About Zscaler Zscaler (Nasdaq: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust ExchangeTM platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 160 data centers globally, the SSE-based Zero Trust Exchange is the world’s largest in-line cloud security platform. ZscalerTM and the other trademarks listed at https://www.zscaler.com/legal/trademarks are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners. Investor Relations Contacts Ashwin Kesireddy VP, Investor Relations and Strategic Finance (415) 798-1475 ir@zscaler.com Natalia Wodecki Media Relations Contact press@zscaler.com (1) Includes stock-based compensation expense and related payroll taxes as follows: (2) Includes amortization expense of acquired intangible assets as follows: ___________________ (1) Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change. (2) Adjustment related to the difference between the GAAP provision for income taxes and Non-GAAP provision for income taxes. (3) The sum of the fully diluted earnings per share impact of individual reconciling items may not total to fully diluted non-GAAP net income per share due to the weighted-average shares used in computing the GAAP net loss per share differs from the weighted-average shares used in computing the non-GAAP net income per share, and due to rounding of the individual reconciling items. The GAAP net loss per share calculation uses a lower share count as it excludes potentially dilutive shares, which are included in calculating the non-GAAP net income per share. (4) We exclude the in-the-money portion of the convertible senior notes for non-GAAP weighted-average diluted shares as they are covered by our capped call transactions. Our outstanding capped call transactions are antidilutive under GAAP but are expected to mitigate the dilutive effect of the convertible senior notes, and therefore are included in the calculation of non-GAAP diluted shares outstanding. The capped calls have an antidilutive impact when the average stock price of our common stock in a given period is higher than their exercise price. ZSCALER, INC. Explanation of Non-GAAP Financial Measures In addition to our results determined in accordance with generally accepted accounting principles in the United States of America ("GAAP"), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, as it has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In particular, free cash flow is not a substitute for cash provided by operating activities. Additionally, the utility of free cash flow as a measure of our liquidity is further limited as it does not represent the total increase or decrease in our cash balance for a given period. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation of our historical non-GAAP financial measures to their most directly comparable financial measures stated in accordance with GAAP has been included in this press release. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. Investors are encouraged to review these reconciliations, and not to rely on any single financial measure to evaluate our business. Expenses Excluded from Non-GAAP Measures Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer payroll taxes related to stock-based compensation, which is a cash expense, are excluded because these are tied to the timing and size of the exercise or vesting of the underlying equity incentive awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business. Amortization expense of acquired intangible assets and amortization of debt issuance costs from the convertible senior notes are excluded because these are non-cash expenses and are not reflective of our ongoing operational performance. Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change. Non-GAAP Financial Measures Non-GAAP Gross Profit and Non-GAAP Gross Margin . We define non-GAAP gross profit as GAAP gross profit excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue. Non-GAAP Income from Operations and Non-GAAP Operating Margin . We define non-GAAP income from operations as GAAP loss from operations excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP operating margin as non-GAAP income from operations as a percentage of revenue. Non-GAAP Net Income per Share, Diluted . We define non-GAAP net income as GAAP net loss excluding stock-based compensation expense and related employer payroll taxes, amortization expense of acquired intangible assets, amortization of debt issuance costs, and the non-GAAP provision for income taxes adjustment. We define non-GAAP net income per share, diluted, as non-GAAP net income plus the non-GAAP interest expense related to the convertible senior notes divided by the weighted-average diluted shares outstanding, which includes the effect of potentially diluted common stock equivalents outstanding during the period and the anti-dilutive impact of the capped call transactions entered into in connection with the convertible senior notes. Calculated Billings . We define calculated billings as revenue plus the change in deferred revenue in a period. Calculated billings in any particular period aims to reflect amounts invoiced for subscriptions to access our cloud platform, together with related support services for our new and existing customers. We typically invoice our customers annually in advance, and to a lesser extent quarterly in advance, monthly in advance or multi-year in advance. Free Cash Flow and Free Cash Flow Margin . We define free cash flow as net cash provided by operating activities less purchases of property, equipment and other assets and capitalized internal-use software. We define free cash flow margin as free cash flow divided by revenue. We believe that free cash flow and free cash flow margin are useful indicators of liquidity that provide information to management and investors about the amount of cash generated from our operations that, after the investments in property, equipment and other assets and capitalized internal-use software, can be used for strategic initiatives.
Iconoclast: Pelosi’s Jan. 6 Narrative Collapsing Jan. 6 was not “an insurrection,” but “a protest that became a riot when a woefully insufficient security plan collapsed,” argues Jonathan Turley at The Hill . Nancy Pelosi’s “House Select Committee to investigate Jan. 6” pushed the narrative that it “ was an attempt to overthrow our democracy by Trump and his supporters,” but “fostered false accounts” and dismissed evidence that “confirmed that Trump did, in fact, offer the deployment of the National Guard in anticipation of the protest.” Now a new report “shows that it was the Defense Department that delayed the eventual deployment of National Guard in the critical hours of the riot.” “None of this means that Trump” is “without fault in this matter,” but “these reports only further highlight what we still do not know about that day.” From the right: Democrats Deaf to Voters “The first step to any recovery is admitting you have a problem,” argues The Wall Street Journal’s Allysia Finley . Yet Democrats “won’t admit that their policies are the cause.” From his “bubble,” California Gov. Gavin Newsom “ordered a special legislative session to ’Trump-proof’ California’s progressive policies, such as its electric-vehicles mandate.” New York Gov. Kathy Hochul “revived a $9 tax on commuters driving into lower Manhattan” days after Trump’s win. Chicago Mayor Brandon Johnson “is seeking to raise taxes on homeowners” to “pay the city’s soaring pension bills.” Those “high taxes are driving off businesses and residents.” Democrats may “recognize their political problem but their solution is to pour another shot.” Culture critic: Dems’ Disconnect on Trans Debate “In a parallel universe,” snarks The Free Press’ Peter Savodnik , “progressives would be rallying around” Rep. Seth Moulton for expressing fear that trans athletes could injure his daughters in sports. Yet “in this universe,” they “hate him.” Progressives “have called him a ‘Nazi cooperator,’ ‘transphobic,’ and ‘offensive,’ ” and demanded he resign. Tuft University’s poli-sci chairman threatened to bar students from interning in his office. Moulton just sees the “disconnect between the party’s activist base and the tens of millions of voters it counts on to win national elections,” blasting those who won’t “even tolerate debate on such issues.” “The only way forward now, Moulton said, is for the Democratic Party to reclaim its liberal soul — its appetite for arguments.” Science desk: Rx for Real Science at FDA “Donald Trump has nominated Dr. Marty Makary of Johns Hopkins University to be commissioner of the Food and Drug Administration,” notes Public’s Alex Gutentag . Makary has a “track record of standing up to the pharmaceutical industry” on opioids and other issues and was “right on key issues” during COVID, like community masking and vaccine mandates — where authorities’ errors “severely harmed trust in public health institutions.” In office, “Makary must work to depoliticize the FDA” and ensure it’s “focused on science, high-quality evidence, and thorough safety monitoring” and to end the “conflicts of interest” that are “not the exception at the FDA” but the rule, where a revolving door between the agency and big pharma operates. Only then will the FDA “function like a real regulator again.” Defense beat: NATO Unready for ‘Hybrid War’ “Russia’s hybrid-warfare model — the integration of numerous non-military means of conflict and proxy wars, backed by the threat of military force, to achieve strategic goals” — poses a huge challenge to NATO, which is organized “to deter against an invasion or nuclear attack on Europe,” warns Patrick Hess at UnHerd . Since the Ukraine war began, Moscow has employed an “escalating string” of “low-threshold, non-military and plausibly deniable tactics” against European countries. These include “sabotage and arson, GPS-signal jamming, disinformation campaigns, weaponised people-smuggling, and phone-hacking,” all “deployed to disrupt, confuse, and blur the lines between peace and wartime.” “As Europe prepares to take primary responsibility for its own security, this new order must include a coherent strategy to deal with Moscow’s hybrid threats, including how and when to respond.” — Compiled by The Post Editorial BoardFeds clear Va. to use to extend broadband to unserved parts of state
Who Is Abdus Salam Pintu? Bangladesh Frees Ex-Minister Who Helped Terrorists Attack IndiaJared Birchall, Elon Musk’s money manager and the head of his family office, is listed as the chief executive officer. Jehn Balajadia, a longtime Musk aide who has worked at SpaceX and the Boring Co., is named as an official contact. Related Articles But they’re not connected to Musk’s new technology venture, or the political operation that’s endeared him to Donald Trump. Instead, they’re tied to the billionaire’s new Montessori school outside Bastrop, Texas, called Ad Astra, according to documents filed with state authorities and obtained via a Texas Public Information Act request. The world’s richest person oversees an overlapping empire of six companies — or seven, if you include his political action committee. Alongside rockets, electric cars, brain implants, social media and the next Trump administration, he is increasingly focused on education, spanning preschool to college. One part of his endeavor was revealed last year, when Bloomberg News reported that his foundation had set aside roughly $100 million to create a technology-focused primary and secondary school in Austin, with eventual plans for a university. An additional $137 million in cash and stock was allotted last year, according to the most recent tax filing for the Musk Foundation. Ad Astra is closer to fruition. The state documents show Texas authorities issued an initial permit last month, clearing the way for the center to operate with as many as 21 pupils. Ad Astra’s website says it’s “currently open to all children ages 3 to 9.” The school’s account on X includes job postings for an assistant teacher for preschool and kindergarten and an assistant teacher for students ages 6 to 9. To run the school, Ad Astra is partnering with a company that has experience with billionaires: Xplor Education, which developed Hala Kahiki Montessori school in Lanai, Hawaii, the island 98% owned by Oracle Corp. founder Larry Ellison. Ad Astra sits on a highway outside Bastrop, a bedroom community about 30 miles from Austin and part of a region that’s home to several of Musk’s businesses. On a visit during a recent weekday morning, there was a single Toyota Prius in the parking lot and no one answered the door at the white building with a gray metal roof. The school’s main entrance was blocked by a gate, and there was no sign of any children on the grounds. But what information there is about Ad Astra makes it sound like a fairly typical, if high-end, Montessori preschool. The proposed schedule includes “thematic, STEM-based activities and projects” as well as outdoor play and nap time. A sample snack calendar features carrots and hummus. While Birchall’s and Balajadia’s names appear in the application, it isn’t clear that they’ll have substantive roles at the school once it’s operational. Musk, Birchall and Balajadia didn’t respond to emailed questions. A phone call and email to the school went unanswered. Access to high quality, affordable childcare is a huge issue for working parents across the country, and tends to be an especially vexing problem in rural areas like Bastrop. Many families live in “childcare deserts” where there is either not a facility or there isn’t an available slot. Opening Ad Astra gives Musk a chance to showcase his vision for education, and his support for the hands-on learning and problem solving that are a hallmark of his industrial companies. His public comments about learning frequently overlap with cultural concerns popular among conservatives and the Make America Great Again crowd, often focusing on what he sees as young minds being indoctrinated by teachers spewing left-wing propaganda. He has railed against diversity, equity and inclusion efforts, and in August posted that “a lot of schools are teaching white boys to hate themselves.” Musk’s educational interests dovetail with his new role as Trump’s “first buddy.” The billionaire has pitched a role for himself that he — and now the incoming Trump administration — call “DOGE,” or the Department of Government Efficiency. Though it’s not an actual department, DOGE now posts on X, the social media platform that Musk owns. “The Department of Education spent over $1 billion promoting DEI in America’s schools,” the account posted Dec. 12. Back in Texas, Bastrop is quickly becoming a key Musk point of interest. The Boring Co., his tunneling venture, is based in an unincorporated area there. Across the road, SpaceX produces Starlink satellites at a 500,000-square-foot (46,000-square-meter) facility. Nearby, X is constructing a building for trust and safety workers. Musk employees, as well as the general public, can grab snacks at the Boring Bodega, a convenience store housed within Musk’s Hyperloop Plaza, which also contains a bar, candy shop and hair salon. Ad Astra is just a five-minute drive away. It seems to have been designed with the children of Musk’s employees — if not Musk’s own offspring — in mind. Musk has fathered at least 12 children, six of them in the last five years. “Ad Astra’s mission is to foster curiosity, creativity, and critical thinking in the next generation of problem solvers and builders,” reads the school’s website. A job posting on the website of the Montessori Institute of North Texas says “While their parents support the breakthroughs that expand the realm of human possibility, their children will grow into the next generation of innovators in a way that only authentic Montessori can provide.” The school has hired an executive director, according to documents Bloomberg obtained from Texas Health and Human Services. Ad Astra is located on 40 acres of land, according to the documents, which said a 4,000-square-foot house would be remodeled for the preschool. It isn’t uncommon for entrepreneurs to take an interest in education, according to Bill Gormley, a professor emeritus at the McCourt School of Public Policy at Georgetown University who studies early childhood education. Charles Butt, the chairman of the Texas-based H-E-B grocery chain, has made public education a focus of his philanthropy. Along with other business and community leaders, Butt founded “Raise Your Hand Texas,” which advocates on school funding, teacher workforce and retention issues and fully funding pre-kindergarten. “Musk is not the only entrepreneur to recognize the value of preschool for Texas workers,” Gormley said. “A lot of politicians and business people get enthusiastic about education in general — and preschool in particular — because they salivate at the prospect of a better workforce.” Musk spent much of October actively campaigning for Trump’s presidential effort, becoming the most prolific donor of the election cycle. He poured at least $274 million into political groups in 2024, including $238 million to America PAC, the political action committee he founded. While the vast majority of money raised by America PAC came from Musk himself, it also had support from other donors. Betsy DeVos, who served as education secretary in Trump’s first term, donated $250,000, federal filings show. The Department of Education is already in the new administration’s cross hairs. Trump campaigned on the idea of disbanding the department and dismantling diversity initiatives, and he has also taken aim at transgender rights. “Rather than indoctrinating young people with inappropriate racial, sexual, and political material, which is what we’re doing now, our schools must be totally refocused to prepare our children to succeed in the world of work,” Trump wrote in Agenda 47, his campaign platform. Musk has three children with the musician Grimes and three with Shivon Zilis, who in the past was actively involved at Neuralink, his brain machine interface company. All are under the age of five. Musk took X, his son with Grimes, with him on a recent trip to Capitol Hill. After his visit, he shared a graphic that showed the growth of administrators in America’s public schools since 2000. Musk is a fan of hands-on education. During a Tesla earnings call in 2018, he talked about the need for more electricians as the electric-car maker scaled up the energy side of its business. On the Joe Rogan podcast in 2020, Musk said that “too many smart people go into finance and law.” “I have a lot of respect for people who work with their hands and we need electricians and plumbers and carpenters,” Musk said while campaigning for Trump in Pennsylvania in October. “That’s a lot more important than having incremental political science majors.” Ad Astra’s website says the cost of tuition will be initially subsidized, but in future years “tuition will be in line with local private schools that include an extended day program.” “I do think we need significant reform in education,” Musk said at a separate Trump campaign event. “The priority should be to teach kids skills that they will find useful later in life, and to leave any sort of social propaganda out of the classroom.” ©2024 Bloomberg News. Visit at bloomberg.com. 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Storm dumps record rain and heavy snow on Northern California. Many in Seattle still without power