Nov 23 (Reuters) - Girona's rediscovered form is thanks to the return of players from injury which has given the side new energy, coach Michel said after they thrashed Espanyol 4-1 in La Liga on Saturday. Michel's side had endured a shaky start to the season but moved up to fifth in the standings on 21 points after a superb home victory featuring a Bojan Miovski brace and goals by Bryan Gil and Ladislav Krejci. "Today's victory, which is our third (in a row), it's due to the fact we got people back, because we've rested, because we've had a very good week of training and because that energy today was noticeable," Michel told a press conference. "The only thing I hope is that we continue to recover people, that we continue to have the necessary minutes for everyone and that, as we have very tough games coming up every three days, we need everyone to be at one hundred percent; we'll see if we can achieve this without any problems." Yaser Asprilla and Krejci, back from injury, combined for the fourth goal but it was the pairing of Miovski and Gil who made the night with lethal attacks for the second and third goals. "I am very happy for Miovski, he is a player who gives everything in training," Michel added. "I was worried because he wasn't scoring goals. He always tries to do his best for the team, he needs time. I am happy for him. "Bryan is a very important player for everyone, his best version is yet to come. Right now the process with him is what we all expect," the manager said. Last season's surprise package Girona face Austrian side Sturm Graz in the Champions League on Wednesday and the manager hopes they can repeat Saturday's performance in the European game. "This is the Girona I want, one hundred per cent. We started the game very well, that's the reality. The first half hour was spectacular, with and without the ball... We had a presence up front. The first half hour is what we want to do this season," Michel said. Sign up here. Reporting by Angelica Medina in Mexico City; editing by Clare Fallon Our Standards: The Thomson Reuters Trust Principles. , opens new tabRain, snow, sleet or state playoffs can’t stop T-Day grid traditions in Newark & E.O.Will Utah State or Boise State forfeit vs. San Jose State in the Mountain West semifinals?
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NoneCENTENNIAL, Colo.--(BUSINESS WIRE)--Nov 22, 2024-- NUBURU, Inc. (“NUBURU” or the “Company”) (NYSE American: BURU), a leading innovator in high-power and high-brightness industrial blue laser technology, today announced it has received a notice of non-compliance (the “NYSE Notice”) from the staff of the NYSE American Market (the “Exchange”) indicating that the Company has become noncompliant with the continued listing standard set forth in Section 803B(2)(c) of the NYSE American Company Guide (the “Company Guide”), since the Company’s Audit Committee is no longer comprised of at least two independent directors, as a result of the recent resignation of an independent director from the Company’s Board of Directors. The NYSE Notice stated that, pursuant to Section 803B(6)(b) of the Company Guide, the Company has until the earlier of its next annual meeting of stockholders or one year from the occurrence of the event that caused the failure to comply with the audit committee composition requirements to regain compliance with the continued listing standards; provided that, if the annual meeting of stockholders occurs no later than 75 days following the event that caused the failure to comply, the Company will instead have 75 days from such event to regain compliance. As a result, the Company has until January 4, 2025 to regain compliance. The Board is undertaking a process to identify two independent directors to join the Board within the permitted time frame. The NYSE Notice does not have any immediate effect on the listing of the Company’s common stock on the Exchange, which remains trading under the trading symbol “BURU”. There can be no assurance, however, that the Company will be able to regain compliance with the continued listing standard discussed above in the permitted time frame. About NUBURU Founded in 2015, NUBURU, Inc. (NYSEAM: BURU) is a developer and manufacturer of industrial blue lasers that leverage fundamental physics and high-brightness, high-power design to produce higher quality welds and parts at a faster rate than current lasers can produce for laser welding and additive manufacturing of copper, gold, aluminum and other industrially important metals. NUBURU’s industrial blue lasers produce minimal to defect-free welds at a rate that is up to eight times faster than traditional welding methods — all with the flexibility inherent to laser processing. For more information, please visit www.nuburu.net . Forward-Looking Statements This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release may be forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “seek,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. Forward-looking statements in this press release include, among other things, developments with our Board of Directors and our compliance with Exchange listing standards. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by NUBURU and its management, are inherently uncertain and many factors may cause the company’s actual results to differ materially from current expectations which include, but are not limited to: (1) the ability to continue to meet the Exchange’s listing standards; (2) failure to achieve expectations regarding its product development and pipeline; (3) the inability to access sufficient capital to operate as anticipated; (4) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (5) changes in applicable laws or regulations; (6) the possibility that NUBURU may be adversely affected by other economic, business and/or competitive factors; (7) volatility in the financial system and markets caused by geopolitical and economic factors; (8) failing to realize benefits from the partnership with GE Additive; and (9) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in NUBURU’s most recent periodic report on Form 10-K or Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. NUBURU does not give any assurance that it will achieve its expected results. NUBURU assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law. View source version on businesswire.com : https://www.businesswire.com/news/home/20241122726110/en/ CONTACT: Investor Relations: NUBURU, Inc. ir@nuburu.net (720) 767-1400 KEYWORD: COLORADO UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: MACHINE TOOLS, METALWORKING & METALLURGY MINING/MINERALS MANUFACTURING NATURAL RESOURCES MACHINERY STEEL SOURCE: NUBURU, Inc. Copyright Business Wire 2024. PUB: 11/22/2024 06:45 PM/DISC: 11/22/2024 06:47 PM http://www.businesswire.com/news/home/20241122726110/en
AUTODESK, INC. ANNOUNCES FISCAL 2025 THIRD QUARTER RESULTSRonan O'Gara said he was "more than pretty happy" with his side's opening night victory away to Bath in the Champions Cup. The French side won 24-20, holding on in the second half after an opening 40 minutes which looked to have them cruising towards a bonus point win. La Rochelle led 21-6 at the break but added just three points in the second half as the English Premiership leaders fought back. "It's just about getting started and winning," said O'Gara told Premier Sports. "We can look at the content tomorrow, Monday, Tuesday and get better for Bristol. "Brilliant first half, shocking second half. But character from the boys because we could have buckled, but some young fellas put up their hands and we've got a good team spirit. I think the better team won tonight." La Rochelle scored three first half tries through Oscar Jegou, Reda Wardi and Tawera Kerr-Barlow. "We were very accurate," O'Gara said. "It's always really pleasing when you construct a maul like that and you score off it. Then you kind of bluff them into going off the top. Obviously, Tawera showed exceptional hands to be able to control the ball and run through. I suppose the thought process involved in that is interesting. "Our first try was obviously just battering away near the line. So 21 points, which was good. And then we started the second half really poorly. "Backed up errors, discipline, scrum count. Lineout struggled a little bit, but then we got four (match) points, and in these conditions that's great because you can defend like dogs and we defended really well at the end." La Rochelle, struggling in the Top 14 this season, face Bristol at home next weekend. "You have to be smart with the different conditions," said O'Gara, "maybe it could be OK next week because tonight it's a very different rugby to potentially Bristol, how they'd like to play because they throw the ball around and their skill levels are top. "We put teams under pressure a bit and we squeeze them but we can play ball as well. If we get conditions, it's about being smart and opening your game plan or closing it up. "Tonight, for 40 minutes, that obviously won us the game. The boys should be very happy tonight. It's a good reaction from last week's Top 14, but this competition is special and we want to be involved in the knockout stages."UCLA women’s basketball coach Cori Close eyeing school history
- Raising the mid-points of billings, revenue, margins, earnings per share, and free cash flow guidance ranges. - Janesh Moorjani appointed as chief financial officer. SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the third quarter of fiscal 2025. All growth rates are compared to the third quarter of fiscal 2024, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document. Third Quarter Fiscal 2025 Financial Highlights "Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there's more to come in the next phase," said Andrew Anagnost , Autodesk president and CEO. "We will continue to deploy capital to offset and buy forward dilution, a practice which has reduced our share count over the last three years, and have significantly extended the duration of our repurchase program by increasing our stock repurchase authorization. Our goal is to deliver sustainable shareholder value over many years." "We generated broad-based underlying growth across products and regions. Overall, macroeconomic, policy, and geopolitical challenges, and the underlying momentum of the business, were consistent with the last few quarters with continued strong renewal rates and headwinds to new business growth," said Betsy Rafael , Autodesk interim CFO. "Given Autodesk's sustained momentum in the third quarter, and smooth launch of the new transaction model in Western Europe , we are raising the midpoints of our billings, revenue, margins, earnings per share, and free cash flow guidance ranges." Additional Financial Details Third Quarter Fiscal 2025 Business Highlights Net Revenue by Geographic Area Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year Constant currency change compared to prior fiscal year (In millions, except percentages) $ % % Net Revenue: Americas U.S. $ 579 $ 520 $ 59 11 % * Other Americas 126 120 6 5 % * Total Americas 705 640 65 10 % 11 % EMEA 580 516 64 12 % 13 % APAC 285 258 27 10 % 14 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % 12 % ____________________ * Constant currency data not provided at this level. Net Revenue by Product Family Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). Three Months Ended October 31, 2024 Three Months Ended October 31, 2023 Change compared to prior fiscal year (In millions, except percentages) $ % AEC $ 751 $ 675 $ 76 11 % AutoCAD and AutoCAD LT 398 372 26 7 % MFG 307 269 38 14 % M&E 83 73 10 14 % Other 31 25 6 24 % Total Net Revenue $ 1,570 $ 1,414 $ 156 11 % Business Outlook The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2025 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2025 GAAP and non-GAAP estimates is provided below or in the tables following this press release. Fourth Quarter Fiscal 2025 Q4 FY25 Guidance Metrics Q4 FY25 (ending January 31, 2025) Revenue (in millions) $1,623 - $1,638 EPS GAAP $1.21 - $1.27 EPS non-GAAP (1) $2.10 - $2.16 ____________________ (1) Non-GAAP earnings per diluted share excludes $0.85 related to stock-based compensation expense, $0.17 for the amortization of both purchased intangibles and developed technologies, and $0.05 for acquisition-related costs, partially offset by ($0.18) related to GAAP-only tax charges. Full Year Fiscal 2025 FY25 Guidance Metrics FY25 (ending January 31, 2025) Billings (in millions) $5,900 - $5,980 Up 14% - 15% Revenue (in millions) (1) $6,115 - $6,130 Up approx. 11% GAAP operating margin 21.5% - 22% Non-GAAP operating margin (2) 35.5% - 36% EPS GAAP $4.95 - $5.01 EPS non-GAAP (3) $8.29 - $8.35 Free cash flow (in millions) (4) $1,470 - $1,500 ____________________ (1) Excluding the impact of foreign currency exchange rates and hedge gains/losses, revenue guidance range would be approximately 1 percentage point higher. (2) Non-GAAP operating margin excludes approximately 11% related to stock-based compensation expense, approximately 2% for the amortization of both purchased intangibles and developed technologies, and approximately 1% related to acquisition-related costs. (3) Non-GAAP earnings per diluted share excludes $3.15 related to stock-based compensation expense, $0.61 for the amortization of both purchased intangibles and developed technologies, $0.23 related to acquisition-related costs, and $0.04 related to losses on strategic investments, partially offset by ($0.69) related to GAAP-only tax charges. (4) Free cash flow is cash flow from operating activities less approximately $30 million of capital expenditures. The fourth quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 20 percent and 19 percent for GAAP and non-GAAP results, respectively. Shifts in geographic profitability continue to impact the annual effective tax rate due to significant differences in tax rates in various jurisdictions. Therefore, assumptions for the annual effective tax rate are evaluated regularly and may change based on the projected geographic mix of earnings. Earnings Conference Call and Webcast Autodesk will host its third quarter conference call today at 5 p.m. ET . The live broadcast can be accessed at autodesk.com/investor . A transcript of the opening commentary will also be available following the conference call. A replay of the broadcast will be available at 7 p.m. ET at autodesk.com/investor . This replay will be maintained on Autodesk's website for at least 12 months. Investor Presentation Details An investor presentation, Excel financials and other supplemental materials providing additional information can be found at autodesk.com/investor . Key Performance Metrics To help better understand our financial performance, we use several key performance metrics including billings, recurring revenue and net revenue retention rate. These metrics are key performance metrics and should be viewed independently of revenue and deferred revenue. These metrics are not intended to be combined with those items. We use these metrics to monitor the strength of our recurring business. We believe these metrics are useful to investors because they can help in monitoring the long-term health of our business. Our determination and presentation of these metrics may differ from that of other companies. The presentation of these metrics is meant to be considered in addition to, not as a substitute for or in isolation from, our financial measures prepared in accordance with GAAP. Glossary of Terms Billings: Total revenue plus the net change in deferred revenue from the beginning to the end of the period. Cloud Service Offerings : Represents individual term-based offerings deployed through web browser technologies or in a hybrid software and cloud configuration. Cloud service offerings that are bundled with other product offerings are not captured as a separate cloud service offering. Constant Currency (CC) Growth Rates: We attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates as well as eliminating hedge gains or losses recorded within the current and comparative periods. We calculate constant currency growth rates by (i) applying the applicable prior period exchange rates to current period results and (ii) excluding any gains or losses from foreign currency hedge contracts that are reported in the current and comparative periods. Design Business: Represents the combination of maintenance, product subscriptions, and all EBAs. Main products include, but are not limited to, AutoCAD, AutoCAD LT, Industry Collections, Revit, Inventor, Maya and 3ds Max. Certain products, such as our computer aided manufacturing solutions, incorporate both Design and Make functionality and are classified as Design. Enterprise Business Agreements (EBAs): Represents programs providing enterprise customers with token-based access to a broad pool of Autodesk products over a defined contract term. Flex: A pay-as-you-go consumption option to pre-purchase tokens to access any product available with Flex for a daily rate. Free Cash Flow: Cash flow from operating activities minus capital expenditures. Industry Collections: Autodesk Industry Collections are a combination of products and services that target a specific user objective and support a set of workflows for that objective. Our Industry Collections consist of: Autodesk Architecture, Engineering and Construction Collection, Autodesk Product Design and Manufacturing Collection, and Autodesk Media and Entertainment Collection. Maintenance Plan: Our maintenance plans provide our customers with a cost effective and predictable budgetary option to obtain the productivity benefits of our new releases and enhancements when and if released during the term of their contracts. Under our maintenance plans, customers are eligible to receive unspecified upgrades when and if available, and technical support. We recognize maintenance revenue over the term of the agreements, generally one year. Make Business: Represents certain cloud-based product subscriptions. Main products include, but are not limited to, Assemble, Autodesk Build, BIM Collaborate Pro, BuildingConnected, Fusion, and Flow Production Tracking. Certain products, such as Fusion, incorporate both Design and Make functionality and are classified as Make. Net Revenue Retention Rate (NR3): Measures the year-over-year change in Recurring Revenue for the population of customers that existed one year ago ("base customers"). Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago. Recurring Revenue is based on USD reported revenue, and fluctuations caused by changes in foreign currency exchange rates and hedge gains or losses have not been eliminated. Recurring Revenue related to acquired companies, one year after acquisition, has been captured as existing customers until such data conforms to the calculation methodology. This may cause variability in the comparison. Other Revenue: Consists of revenue from consulting, and other products and services, and is recognized as the products are delivered and services are performed. Product Subscription: Provides customers a flexible, cost-effective way to access and manage 3D design, engineering, and entertainment software tools. Our product subscriptions currently represent a hybrid of desktop and cloud functionality, which provides a device-independent, collaborative design workflow for designers and their stakeholders. Recurring Revenue: Consists of the revenue for the period from our traditional maintenance plans, our subscription plan offerings, and certain Other revenue. It excludes subscription revenue related to third-party products. Recurring revenue acquired with the acquisition of a business is captured when total subscriptions are captured in our systems and may cause variability in the comparison of this calculation. Remaining Performance Obligations (RPO): The sum of total short-term, long-term, and unbilled deferred revenue. Current remaining performance obligations is the amount of revenue we expect to recognize in the next twelve months. Solution Provider : Solution Provider is the name of our channel partners who primarily serve our new transaction model customers worldwide. Solution Providers may also be resellers in relation to Autodesk solutions. Spend : The sum of cost of revenue and operating expenses. Subscription Plan: Comprises our term-based product subscriptions, cloud service offerings, and EBAs. Subscriptions represent a combined hybrid offering of desktop software and cloud functionality which provides a device-independent, collaborative design workflow for designers and their stakeholders. With subscription, customers can use our software anytime, anywhere, and get access to the latest updates to previous versions. Subscription Revenue: Includes our cloud-enabled term-based product subscriptions, cloud service offerings, and flexible EBAs. Unbilled Deferred Revenue: Unbilled deferred revenue represents contractually stated or committed orders under early renewal and multi-year billing plans for subscription, services, and maintenance for which the associated deferred revenue has not been recognized. Under FASB Accounting Standards Codification ("ASC") Topic 606, unbilled deferred revenue is not included as a receivable or deferred revenue on our Condensed Consolidated Balance Sheet. Safe Harbor Statement This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements in the paragraphs under "Business Outlook" above statements about our short-term and long-term goals, statements regarding our strategies, market and product positions, performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Our estimates as to tax rate are based on current interpretations of existing tax law and could be affected by changing interpretations, further guidance, and additional tax legislation. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. About Autodesk The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk uses its investors.autodesk.com website as a means of disclosing material non-public information, announcing upcoming investor conferences and for complying with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website in addition to following our press releases, SEC filings and public conference calls and webcasts. Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and service offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. © 2024 Autodesk, Inc. All rights reserved. Autodesk, Inc. Condensed Consolidated Statements of Operations (In millions, except per share data) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 (Unaudited) (Unaudited) Net revenue: Subscription $ 1,457 $ 1,314 $ 4,195 $ 3,777 Maintenance 9 12 31 40 Total subscription and maintenance revenue 1,466 1,326 4,226 3,817 Other 104 88 266 211 Total net revenue 1,570 1,414 4,492 4,028 Cost of revenue: Cost of subscription and maintenance revenue 105 94 305 285 Cost of other revenue 19 21 57 62 Amortization of developed technologies 23 12 62 34 Total cost of revenue 147 127 424 381 Gross profit 1,423 1,287 4,068 3,647 Operating expenses: Marketing and sales 525 439 1,474 1,344 Research and development 378 339 1,092 1,021 General and administrative 161 165 477 438 Amortization of purchased intangibles 13 10 37 31 Total operating expenses 1,077 953 3,080 2,834
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