S&P Global Market Intelligence's New Outlook Report Shows the Convergence of Public and Private Credit Markets and Expects the Trend to Continue into 2025LOS ANGELES — Top-ranked South Carolina felt something it hasn't known in over 2 1/2 years. The sting of defeat after being thoroughly dominated in a 77-62 loss to No. 5 UCLA on Sunday. Gone was the overall 43-game winning streak. Done was the run of 33 consecutive road victories. And the No. 1 ranking it's held for 23 consecutive polls will disappear Monday. "This is what we usually do to teams," coach Dawn Staley said. "We were on the receiving end of it." South Carolina hadn't lost since April 2023, when Caitlin Clark and Iowa beat the Gamecocks in the national semifinals of the NCAA Tournament. The Bruins (5-0) shot 47% from the floor and 3-point range, hit 11 of 14 free throws and had five players in double figures. "They actually executed our game plan to a T," Staley said. The Gamecocks (5-1) were held to 36% shooting, had just two players in double figures and neither was leading scorer Chloe Kitts, who was held to 2 points on 1 of 7 shooting. They never led, got beat on the boards, 41-34, and were outscored 26-18 in the paint and 8-1 in fast break points. They only made eight trips to the free throw line. "Our kids fought," Staley said, "but we ran into a buzzsaw." South Carolina did manage to limit 6-foot-7 UCLA star Lauren Betts, who had 11 points and 14 rebounds, despite no longer having a dominant center of their own. The Bruins responded by getting the ball to others and eight of their 10 players scored. "We did an excellent job on Betts and we got killed by everyone else," Staley said. Tessa Johnson was the only other Gamecock in double figures with 14. "We needed a lot more than Tessa today," Staley said. The Gamecocks never got their offense in gear, starting the game 0 for 9 before trailing 20-10 at the end of the first quarter. They were down 43-22 at halftime. "Our shot selection is something we're dealing with on a daily basis," Staley said. The Gamecocks outscored UCLA 40-34 in the second half, but the Bruins' big early lead easily held up. "Beautiful basketball by UCLA," Staley said. "You can't help but to love up on it cause it was fluid on both sides of the ball." Given that it's only late November, the Gamecocks have plenty of time to figure things out. "We had some really good contributions from people that don't play a whole lot and we could probably give a little bit more minutes to," Staley said. "Taking a loss will help us focus on anybody that we play." Get local news delivered to your inbox!Is it safe? That was the first question Captain Keagan Pang’s mother asked when she found out he was going to be a pilot at a low-cost carrier. The year was 2011, and budget airlines here were expanding and looking to hire. Having developed an interest in aviation after working in the air force and as a cabin crew member at national carrier Singapore Airlines (SIA), Captain Pang did not hesitate to sign up as a cadet at Jetstar Asia, before joining Tiger Airways. Now an associate management pilot with SIA’s low-cost arm Scoot, the 42-year-old has flown all over Asia, from Ipoh in Malaysia to Osaka in Japan. Despite her initial reticence, Captain Pang’s mother has become a regular on budget airlines, too. Fittingly, her most recent trip in 2024 was to Osaka on Scoot. When it took off 20 years ago, the low-cost carrier industry in Singapore was met with fervour by some and doubt by others. But budget airlines have since become an accepted – even essential – part of the aviation landscape, opening up air travel to millions and creating a new breed of travellers . While budget carriers make up about a fifth of the airlines at Changi Airport today, they fly to more than half of the 165 cities that the airport is connected with. The shortest non-stop budget flight from Singapore is 55 minutes to Melaka. The longest is 12 hours to Athens. More than 40 destinations are exclusively served by budget carriers, including Vientiane in Laos and Jeju in South Korea. In the first nine months of 2024, a third of the 49.8 million passengers who passed through Changi Airport flew on low-cost airlines. Mr Ellis Taylor, Asia editor of aviation analytics firm Cirium, said the conventional wisdom in the late 1990s and early 2000s was that Asian travellers would not fly on budget carriers. This has been proven wrong. By cutting costs and offering low fares, they have been able to launch new routes that other airlines wouldn’t have tried, and have played a key role in enabling tourism across Asia and beyond. With thinner margins, low-cost airlines have been among the first to adopt new technology and business models to reduce costs, pushing full-service carriers to rethink their processes and product offerings. AirAsia Malaysia chief executive Fareh Mazputra said the low-cost carrier model has democratised air travel. With a growing middle class expected to fuel greater demand for affordable flights, he and the heads of Singapore-based Scoot and Jetstar Asia believe the sky’s the limit for budget carriers in South-east Asia, even with the challenges that lie ahead. The low-cost carrier wave in Singapore began on May 5, 2004, when a Valuair flight left Changi Airport for Bangkok with 162 passengers on board. It was the first budget flight to be operated by a Singapore carrier, with fares that were 40 per cent to 50 per cent cheaper than full-service ones. Later that year, Tiger Airways – which was set up by SIA Group, Singapore’s investment company Temasek and the founders of Irish no-frills carrier Ryanair – entered the fray. Qantas subsidiary Jetstar Asia joined in too, with its maiden flight on Dec 13, 2004. The three upstarts were inspired by the successes of Southwest Airlines in the United States, and Ryanair and easyJet in Europe. The emergence of AirAsia in 2001 brought the low-cost fever closer to home. Yet, many in the industry remained sceptical about low-cost carriers, as they felt consumers here were not ready for them, said a former airline head who was involved in the launch of budget flights here. Travel was still a luxury in Asia then, and many airlines pitched themselves as delivering a premium service, which came at a high cost and with high fares. But there was, in fact, a hankering for cheaper flights, and the response to the launch of budget flights in Singapore was huge. Weeks before Valuair’s first flights, which were priced at a promotional rate of $138 to Bangkok and $300 to Hong Kong, full-service airlines such as SIA and Cathay Pacific began slashing their fares to keep up. “We proved we could sell at lower fares and turn in operating profits on routes,” said the former airline executive, who declined to be named for this story. By 2007, Jetstar Asia and Tiger Airways, which was later rebranded as Tigerair, had already made it onto the list of Changi Airport’s 10 largest carriers by passenger numbers. By 2009, low-cost carriers accounted for 23 per cent of the airport’s total passenger traffic. While the budget aviation sector has grown over the years, it encountered turbulence along the way. The first storm came shortly after lift-off, as irrational pricing by full-service carriers in response to the competition and expensive fuel made 2005 a tough year for budget airlines. Countries like Indonesia had also shut the door on foreign low-cost carriers, leaving a few crowded regional routes for Singapore carriers to compete on. The first casualty was Valuair, which tried to offer a “mid-cost” alternative by providing some frills such as free hot meals and assigned seating. But it did not have deep-enough pockets, nor could it attract enough investors, leading to its merger with Jetstar Asia in 2005. More turbulence came in the 2010s, after the skies in South-east Asia opened up. Aggressive expansion by low-cost carriers caused markets to be flooded with seats. Fares tumbled, as did earnings, prompting a scaling back of operations and a wave of consolidations and bailouts. The growing proportion of low-cost carrier flights from Changi Airport relative to total flights The rise of budget airlines prompted the development of new airport infrastructure, with the Budget Terminal opening in Singapore in 2006. With no aerobridges and transfer facilities, the no-frills single-storey terminal at Changi was meant to help budget carriers save on airport costs. Two years later, a $10 million expansion more than doubled the terminal’s capacity from 2.7 million to seven million passengers a year. In 2012, a decision was made to redevelop the Budget Terminal into the larger Terminal 4. Mr Lim Ching Kiat, Changi Airport Group’s (CAG) executive vice-president for air hub and cargo development, said this was because the cost savings for low-cost carriers at the Budget Terminal were marginal, and passengers wanted a consistent experience at the airport. Budget airlines in Singapore started to fly farther as well. In 2010, Jetstar Asia’s sister airline Jetstar Airways started flying non-stop to Melbourne. Two years later, SIA launched Scoot to serve medium and long-haul routes. In 2017, Tigerair merged with Scoot to capture a greater share of the low-cost market. Scoot’s first European service to Athens started the same year. A recent trend has been the arrival of North-east Asian low-cost carriers at Changi Airport, such as South Korea’s Jeju Air and Japan’s Zipair. The latest additions are Air Japan and Peach Aviation, both subsidiaries of full-service carrier All Nippon Airways. With the liberalisation of air service agreements and low-cost airlines buying new narrow-body aircraft with longer ranges, CAG’s Mr Lim expects the growth of such carriers in Singapore to continue. “Because of our location, we can actually access a bigger market, such as the northern parts of India and China, and Central Asia,” he said. As acceptance of low-cost carriers has grown, the mix of passengers on board has become more varied. Expectations have changed too. “In the early days, there was this misperception about low-cost airlines being less safe. But over time, people have seen, and the track record has proven, that this is untrue,” said Scoot’s Captain Pang. Mr Lim said the stereotype that budget airlines are only for travellers on a shoestring is also no longer true, citing the example of Zipair, which offers lie-flat seats on its red-eye Singapore-Tokyo flights, a feature more commonly associated with premium airlines. “My take is that people are more savvy these days,” he added. Ms Florence Chan, 38, who joined Scoot as a cabin crew member in 2012, said she still gets questions from passengers about the lack of certain amenities on flights, but these have become less common. She and other cabin crew members noted that no-frills does not mean no service. Ms Mei Ng, 49, who has been working as a cabin crew member for 19 years, first with Valuair and then with Jetstar Asia, said: “We’ve had parents request milk, passengers needing earplugs, or even asking for unexpected items like sanitary napkins – all of which we do our best to accommodate.” Scoot chief executive Leslie Thng said customers are becoming more sophisticated, which is why low-cost carriers now offer different ways to bundle ancillary services, such as checked baggage and in-flight meals. There has also been a move towards self-service options. Mr Thng said Scoot is using technology and data in all facets of its operations – from improving sales to simplifying work processes for staff. Generative artificial intelligence is also a big trend, with both Scoot and AirAsia using it to give their customer chatbots a boost. Mr Kenji Soh, general manager at corporate travel management company FCM Travel South-east Asia, said low-cost carriers have started offering products aimed at corporate travellers, including quiet zones and business class. Pointing to a 13 per cent increase in low-cost bookings on FCM Travel’s platform, he said there is a trend of companies incorporating budget carriers into their travel policies for shorter flights. In the past 20 years, there has also been a growing convergence between the low-cost and full-service models, giving rise to more hybrid airlines. For example, while traditional low-cost carriers would not facilitate passengers transferring between flights or between other airlines, this is now the norm in Asia, Mr Taylor from Cirium said. Jetstar Asia was the first to do this here, and it now has interline and codeshare agreements with more than 40 carriers out of Singapore, including Emirates and KLM. This has allowed the budget airline to grow beyond the reach of its own direct customers. Scoot is taking a similar approach with SIA. “We don't have a domestic market, so transit traffic is also very important for us,” Mr Thng said, noting that transfer passengers now make up about a quarter of Scoot’s traffic. Legacy airlines too have adopted parts of the low-cost carrier playbook, such as charging passengers for ancillary services. Mr Taylor said this convergence will most likely continue as airlines adapt to the needs of different markets. This could mean more budget carriers adopting a frequent flier programme and offering business class cabins to compete against traditional carriers. While the Covid-19 pandemic dealt low-cost carriers a major blow, budget airlines in Singapore have bounced back from that. Between January and September, budget airline passenger traffic at Changi Airport was 101.6 per cent of 2019 levels. With Covid-19 in the rear-view mirror, the sector is now looking at growth. Mr Thng said he sees immense potential in South-east Asia, which he views as Scoot’s hinterland. Scoot has focused on shorter hops within the region in 2024, with the roll-out of its new Embraer E190-E2 jets. But the airline wants to grow its medium- and long-haul network too, pending the delivery of more wide-body Boeing 787s. AirAsia’s Captain Fareh said Singapore contributes significantly to the carrier’s overall passenger load, and the goal is to also expand its network here. Growing the airline’s fleet would allow it to increase flight frequencies from the Republic, the former pilot added. At a regional level, AirAsia has ambitions of turning its Kuala Lumpur and Bangkok bases into low-cost Dubai-like hubs. It is also eyeing global expansion, with plans to launch routes to Africa, Europe and the US by 2030. For Jetstar Asia, which has been slower to recover from the pandemic, the aim is to gain a firmer footing after the airline almost doubled its fleet from seven to 13 aircraft in two years. While it is still short of the 18 jets that it had before Covid-19, Jetstar Asia chief executive John Simeone said the airline is making sure its current network is profitable. He said the competitive environment within South-east Asia is intense, and Jetstar Asia, like all airlines, faces challenges such as volatility in fuel prices and broader geopolitical tensions. With revenge travel coming off the boil, demand is likely to slow too. Other headwinds include supply chain snags, which have delayed plane deliveries and grounded existing ones, and sustainable aviation fuel mandates, which will drive costs up. While Singapore will continue to play a key role in the growth of low-cost carriers in the region, airlines have highlighted several challenges operating here too. The biggest concern is Changi’s costs, which are set to rise further over the next six years. Jetstar Asia’s Mr Simeone said this may impact the number of tickets that the airline can sell below $100, which now make up about two-thirds of all its flights. The difficulty in securing take-off and landing slots at Changi is another issue, and Captain Fareh believes slot availability at the airport can be better optimised. Peach Aviation’s chief corporate planning officer Satoru Endo said he hopes that Changi Airport’s capacity will be expanded, so the airline can mount more flights in the future. “Since Singapore is a popular and busy destination in terms of airport traffic, it is not very easy to get our desired slot,” he added. A related question that has come up is whether there is room for another Singapore-based low-cost carrier. This is after AirAsia founder Tony Fernandes told the Malaysian media in September that the carrier will not give up on securing an airline licence in Singapore, despite having been rejected thrice. Asked about Changi Airport’s capacity for more budget carriers, CAG’s Mr Lim said the airport is committed to working with its existing carriers so they continue to grow, and it is happy to partner with other airlines to drive traffic and expand its network. In response to a similar query, and about whether there is room for another local budget carrier here, the Civil Aviation Authority of Singapore (CAAS) said only that it will continue to work with CAG to support all airlines that are committed to the Singapore air hub. CAAS director of air transport Sidney Koh said: “Low-cost carriers have played, and will continue to play, an important role in Singapore.”
MALVERN, Pa., Dec. 13, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA Bio") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions, today announced that the Compensation Committee of the Board of Directors of TELA Bio approved inducement grants of restricted stock units covering 1,700 shares of its common stock to three newly-hired employees, with a grant date of December 11, 2024 (the "Grant Date"). The restricted stock units were granted pursuant to the Nasdaq Rule 5635(c)(4) inducement grant exception as a component of each individual's employment compensation and were granted as an inducement material to his or her acceptance of employment with TELA Bio. The restricted stock units will vest in equal annual installments over four years, subject to each individual's continued service with TELA Bio through the applicable vesting dates. About TELA Bio, Inc. TELA Bio, Inc. (NASDAQ: TELA) is a commercial-stage medical technology company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials. For more information, visit www.telabio.com. Caution Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of TELA Bio's management. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements. These risks and uncertainties are described more fully in the "Risk Factors" section and elsewhere in our filings with the Securities and Exchange Commission and available at www.sec.gov, including in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this announcement speak only as of the date of this press release, and TELA Bio assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law. Investor Contact Louisa Smith ir@telabio.comUnless otherwise specified, all sizes in this post are listed in women's. 1. A set of cami bras for those days when you're lounging around the house but still want to keep the girls supported. Promising review: "Loved the five colors, very VERY comfortable and worth the price. The material is very soft, feels like you have nothing on. I HIGHLY RECOMMEND this product." — Amazon Customer Price: $25.99+ for a set of four (available in sizes S–3XL and in six color sets) If you like these, check out our picks for the best tank tops with built-in bras ! 2. A Maidenform convertible push-up bra that goes from strapless to secured in seconds. You'll get a lil' extra boost thanks to the push-up design and the monochrome colors make it the perfect pick under any outfit. Promising review: "Bought this to wear as a strapless to a wedding. I didn’t have to constantly pull it up, which has always been why I stay away from strapless. It was tight, and I did receive a size bigger than I ordered, so keep that in mind. Glad it was tight though!" — Kara Price: $17.76+ (available in sizes 34C–40DD and in two designs) 3. A seamless medium-low support workout bra so you can stay supported while still looking super cute. I honestly wouldn't blame you if you wore this cutie sans anything over the top of it (aka, as a shirt). Promising review: "I'm a 32DDD and it's so hard finding good sports bras. The cups add nice shape so I don't get an underboob look and it's so cute from the back!" — H Price: $19.99+ (available in sizes XS–XL and in 14 colors and designs) You can also find this bra at #1 in our list of chic sports bras ! 4. A wire-free and bulge-free bra because bra bulge is the one thing that no one needs in their lives. Yes, it's a relief when you take off your bra at the end of the day, but what makes it even better is not having any indents on your skin. Promising review: "The product is exactly what was needed. It is soft and supportive. It doesn’t hide your shape and is not too tight. Soft material and Excellent fit." – Anna Price: $16.94 (available in sizes S–XXL and in four colors) 5. A padded push-up bra to add an entire cup size in an instant. Seem too good to be true? Just take a look at the almost 10,000 5-star ratings. Promising review: "For all my natural big-breasted sisters...get this bra!! This is by far one of the best bras I have ever owned. This bra is super comfortable and attractive. I totally recommend. Can't beat it for the price." — Amazon Customer Price: $29.99+ (available in sizes 32A–40DDD and in 16 colors) 6. A Hanes ComfortFlex foam bra so light and comfortable that you'll probably think, "did I remember to put a bra on today?" Promising review: "I hate bras. I find almost all of them TOTALLY uncomfortable no matter what...UNTIL NOW!!!!!!! THIS BRA IS THE BEST!!!! It's so comfy and I never have to adjust it because it's bothering me. Just enough padding that you don't see nipple bumps in a T-shirt. Sometimes I even continue to wear it after I get home from work, unlike others I would NEED to take off immediately the second I could. I will forget I'm wearing this!!! Highly recommend!!!" — Brandy Lunn Price: $12.99 (available in sizes S–3XL and in six colors) 7. A lace halter bralette , because nothing is fancier than a lacy bralette. This bb will look amazing with your shirt draped off your shoulder — why wouldn't you want to show it off? Promising review: "There’s a reason why this bra is is popular: it’s really cute and super comfortable. It doesn’t have any padding or much support but still held me well. " — Candy Price: $12.59+ (available in sizes S–XL and in eight colors) 8. A half-cup mesh bra to make you feel *so* good. This is the ideal bra to wear under your fancier clothes, but it's also comfy enough for every day. Promising review: "I am picky with bras and this really surprised me. It fits so well and makes the girls look amazing. I bought it in more colors. It runs true to size." — Kindle Customer Price: $25.99+ (available in sizes 32A–38DD and in 12 colors) 9. A padded bra top so you can wear your underwear as outerwear. Reviewers love this 2-in-1 so much, many say they often sleep in it. Promising review: "This got delivered less than 10 minutes ago and I’ve already purchased two more colors. This sports bra is so comfy and the perfect crop length for biker shorts or leggings. The material is high quality and super soft. I am a 34D wearing a medium and it’s the perfect amount of support for training. Might want something tighter or go down a size if you're a runner and don’t want anything to move. You need this in your closet!!" — Alyssa Price: $21.99 (available in sizes S–XXL and in 27 colors and styles) 10. A secure Glamorise front-closure bra , because who has time to contort themselves for 20 minutes each morning until they *finally* hook the back clasp? This game-changing bra also has an underwire that cradles your bust so the wire never touches your body. FYI, it is included in Prime Wardrobe so you can give it a trial run if you're a member! Promising review: "I hate ordering bras online because I never know what size to order. I took a risk, thinking that I would just return it if it didn’t work. But this one did!! She holds the (big) girls in so well! There’s also that lift and separate action that I love so much! I highly recommend this very comfortable and beautiful bra!" — BSong Price: $47.20 (available in sizes 34B–50H and in 11 colors) 11. A vintage-inspired balconette underwire bra that'll be perfectly paired with your ever-growing collection of retro dresses (or by itself under a blazer 😉). Promising review: "Size 34FF fits great, although typically I wear a 34DDD in American sizes. I have narrow shoulders and a narrow back. Finally, not a minimizer, but a great-looking bra to make my beauty shine. It has just enough padding to be appropriate to wear with a T-shirt, not over-padded. Absolutely recommend this bra to those of us who are well-endowed!" – Lydia32 Price: $39+ (available in sizes 30D–44GG and in 12 colors) 12. An ultra-light smoothing bra because your bra showing through your top is not always the vibe. (Unless it is, you do you!) For around 20 bucks, you can't go wrong. Promising review: "I'm so glad I purchased this bra. It’s hard finding my size bra (34DD) in stores. It seems as if it’s nonexistent. I don’t feel like paying double the price at VS for my bra size (just to get a DD bra you have to pay $10 more...there isn’t $10 more worth of fabric so I don’t see the justification). The bra is very comfortable, buttery soft, and no boob spillage. Definitely would buy again. Just wish there were more color options." – MillB Price: $22.66+ (available in band sizes 34–42, cup sizes B–DD, and 12 colors) 13. A lightly padded satin bra with over 4K 5-star reviews and a comfortable, gorgeous design. FYI, bra is included in Prime Wardrobe so you can give it a trial run if you're a member! Price: $53.99+ (available in sizes 34D–44DD and in 14 colors) 14. A darling Natori plunge contour bra that magically molds to your shape to give you the best fit yet. Promising review: "I now own this bra in three colors; it's that amazing. This bra looks and feels incredible; you scarcely feel it at all when it's on. It's invisible under nearly all clothing, as the lace at the top lies flat; to me, this is very important, as I hate seeing the tops of bra cups poking through the fabric of your shirt! Not a problem here. I wear this bra daily with confidence, and I can't recommend it highly enough." — Amanda H. Smith Get it from Amazon for $46.80+ (available in band sizes 30–38, cup sizes A–G, and dozens of colors). 15. An unlined Calvin Klein bra ~sheer~ to be your new favorite. It's super soft, comfortable, and will bring some designer goodness to your underwear drawer. Promising review: "Exactly what I was looking for. I did not want any thick material, just the shaping from the underwire and a more natural feel and look beyond that. These bras have only sheer mesh material in the cup, and I love it. Super comfortable, make me feel like I look great. I ended up buying four more for this to be my go-to everyday bra. If you don’t want thick layers of fabric this bra is for you. Note on colors: 'nymph's thigh' is really closer to very light pink, and 'nude' is a darker tan. I only wish there was a white option for wearing under white layers. Other than that, this bra is a great, simple (and also sexy) product. If you are looking for thick padding, then this will not be what you want. The fit was perfect to my expectations (based off of my measurements)." — E N Allen Price: $9.45+ (available in band sizes 30–38, cup sizes A–DD, and in seven colors). 16. A Lilyette by Bali minimizer bra for compressing the girls and making them look smaller while still giving you a beautiful silhouette and a ton of support. This bra can reduce your bust projection up to 1.5 inches! Promising review: "Why did no one tell me the wonders of minimizing bras?!? But all is forgiven now that my 38DD otherwise unwieldy breasts are now properly contained! All my life, I've worn 'regular' bras, and all my life, they've wiggled, jiggled, pooched over the cups, and I've hated them. But now, I might be OK with a larger chest! This bra is phenomenal. I'm DD, sometimes DDD, and wearing regular bras correctly sized was horrible. Professional fittings, those $70 bras I'd still look jiggly in, and I'd still end up with boobage up out of the cup. Looked ridiculous. This bra nicely does whatever it does to push your breasts down enough that they don't pop out. But you don't look like you have smashed breasts or a uni-boob! They stay nicely separated; I've worn it several times and not once had spillage over. I'm ordering two more, pleased as punch. FINALLY, after over 25 years of bra wearing, found what I didn't know I was missing! I hope someone else is able to have the joy of nicely contained boobs!" — 3LittleFish Price: $21.99+ (available in band sizes 34–42, cup sizes C–DDD, and in eight colors). For more bust-reducing styles, take a look at our picks for the best minimizer bras . 17. A buttery soft wireless comfort bra that will become your new everyday go-to. Bras that feel like you're not wearing one? Sign me up. Promising review: "Absolutely love this bra! It's incredibly comfortable and offers great support without feeling restrictive. The fabric is soft and breathable, making it perfect for all-day wear. It fits true to size and provides a flattering shape. I’m so happy I found this, it’s now my go-to! Highly recommend!! Truly sooo Comfortable." — Gisele Marson Price: $16.99+ (available in band sizes 32–40, cup sizes A–D, and in 21 colors) 18. A floral lace bralette for a classically chic look that will enhance any outfit thanks to its incredible support and darling design. Promising review: "Love this bra! Sexy and comfortable. I ordered it in black but ordering other colors. My boyfriend loves this on me." — Rocio Andrade Price: $28.99+ (available in band sizes 32–44, cup sizes B–G, and in five colors) 19. An unlined lace bra that will keep everything right where you want it to be, but with ~elegance.~ Promising review: "To preface this, I NEVER go out of my way to leave reviews for things, but have to say this is one of the best bras I’ve ever put on my body! Being plus size, I’ve found that it’s always been hard to find something comfortable and cute for my size and I felt so much relief after putting this on. Finally a bra that lifts and supports the way it should and makes me feel confident. I’ll definitely be ordering more!! Not to mention it has a super thick strap and connector on the back that leaves that whole area looking seamless. No back fat spilling over whatsoever. 1000/10 recommend." — jessica Price: $24.99+ (available in band sizes 34–46, cup sizes C–I and in 14 colors) 20. A crisscross sports bra for jogging, dancing, boxing, or in the words of Rebel Wilson in Pitch Perfect , horizontal running (aka laying on your couch and binge-watching your latest Netflix obsession). Promising review: "I own a hundred sports bras and this one’s my favorite. Firstly, it is very easy to put on and remove and it looks really nice when paired with a pair of black leggings. They come padded, and I found them to provide good support during high-intensity exercises as well. The blue shade also looks very elegant. Overall great product." — AA Price: $12.99 (available in sizes S–3XL and in six colors) 21. A high-impact sports bra designed with strenuous activity in mind. It's made from a comfy four-way stretch, moisture-wicking fabric so you can stay supported and dry no matter what you're doing. Promising review: "Oh my, where to start!? It is very well made and comfortable to wear! I love that the padding is sewn in place, so you don’t have to worry about removing them or worse trying to get them back in place! It offers great support for running, but is cool and comfortable enough to just wear when you don’t feel like wearing a regular bra. This bra stays in place and holds *everything* in place as you run, exercise etc. and all at a great price. I highly recommend trying this sports bra!" — Tamara Price: $22.99+ (available in sizes S–3XL and in 38 colors) 22. A full coverage bra that will give the twins the *ultimate lift* without an underwire. Promising review: " I have been buying this same style of bra since the 1990s and have never found a rival for attractiveness, coverage, comfort, and good fit. These bras also last for years and years when laundered in a bag on gentle cycle and hung dry. I added this bra to have another color in my collection and anticipate many years of good fit. Playtex 18 Hour bras are genuinely so comfortable you can wear them all day and night, if need be." — Susan L. Price: $12.99+ (available in band sizes 34–54, cup sizes B–G, 19 colors, and various sets of two) 23. A super sexy sheer bra for feeling like your best self. Best worn while listening to Taylor Swift's Vigilante Sh*t . Promising review: "Great quality. See-through material makes it very sexy. Comfortable." — Robin C Meade Price: $19.99+ (available in band sizes 34–44, cup sizes B–F, and in seven colors) 24. A Bali Breathe T-Shirt bra that holds the girls in place well enough for everyday wear but adds a sultry edge with a lace finish. I own a couple of these bras, and when I tell you they are my favorite bras EVER! I'm a DD cup, and they are so incredibly comfortable and supportive. Thanks to the lacey material, they also make me feel so good. Plus, they're WIRELESS!!! Promising review: "This bra has a beautiful style, a great fit with a very accurate sizing chart, and is very comfortable. I am buying another in a different color." — fbk Price: $25.99 (available in sizes S–3XL and in six colors) 25. A wire-free and seamless scallop-detail bra to add a fun and playful pop to your underwear drawer. Promising review: "As a petite woman with a larger bust, well-fitted and comfortable bras are hard to come by. This one is so comfortable and cute and I really like the way the clasps are sort of magnetic. It makes it easier to find the right hook while uncomfortably reaching your arms completely behind your back, lol." — Amber Way Price: $26.99+ (available in sizes S–3XL and in 11 colors) 26. A longline bralette for those who are partial to a sexy lace number but don't want to compromise on comfort. Reviewers with *bustier* chests are fans, so know you don't have to settle for something drab just because you're a D+. Promising review: "The fit and support of this bralette for larger busts is so good! Fits true to size per the size chart and has great coverage. Will be getting other colors!" — Nat Price: $10.48+ (available in sizes S–XXL, 11 colors, and in two-packs and three-packs) Reviews have been edited for length and/or clarity.Brisbane news live: Labor eyes last chance of 2024 to tick policy boxes
Convicted child sex offender hired by government-funded legal serviceThe Nasdaq Composite is a tech-centric index that tracks the performance of more than 3,000 stocks listed on the exchange. Just this week, the Nasdaq, the S&P 500 , and the Dow Jones Industrial Average all climbed to record heights, the latest in a long line of all-time highs hit this year. The ongoing rally has a great many stocks at or near new record highs, leaving some investors to wonder whether there's still upside ahead. Those concerns are unfounded, according to Wall Street, which remains remarkably bullish. As we close out the year, forecasts for 2025 continue to ratchet higher. While these targets are focused on the broader S&P 500, they can be instructive. Analysts at Goldman Sachs predict the S&P 500 will hit 6,500 in December 2025, representing gains of roughly 7% compared to Thursday's closing price. Not to be outdone, Bank of America issued a year-end price target of 6,666 for 2025, or upside of 10% from its current level. Just this week, Wells Fargo issued the most bullish forecast yet, calling for the benchmark index to hit 7,007 next year, representing potential gains of about 15%. Despite the recent run-up, opportunities abound. Let's take a look at two Nasdaq stocks with additional upside of up to 115%, according to certain Wall Street analysts. Sirius XM Holdings: Implied upside of 59% The first Nasdaq stock with significant potential upside is Sirius XM Holdings ( SIRI 4.58% ) . The company dominates satellite radio services in North America, with 34 million paying subscribers. Its customer base jumps to 150 million when you include its ad-supported Pandora music streaming service, so its audience is unmatched. However, the recent economic downturn and a complicated merger took a toll. Decades-high inflation forced cash-strapped consumers to make difficult choices with their limited disposable income. Some, understandably, chose to let their SiriusXM subscription lapse. There was also a fundamental misunderstanding of its recent merger, the reverse stock split , and the resulting complicated accounting transactions, which weighed on its results. These combined to drag the stock down 51% so far this year -- but things aren't as bad as they might seem at first glance. In the third quarter, Sirius' revenue slipped 4% year over year to $2.17 billion while reporting a loss per share of $8.74, compared to diluted EPS of $0.82 in the prior year quarter -- but that needs context. The company took a one-time, non-cash impairment charge of $3.36 billion to goodwill related to its acquisition of Liberty Sirius XM tracking stock. Had it not been for that one-time charge, Sirius would have delivered EPS of roughly $1.17, an increase of 43%. At the same time, paid subscribers increased by 14,000, resulting from lower churn . Paid promotional subscribers, which declined by 114,000 as automakers transitioned to shorter or unpaid plans, further weighed on the results. Some on Wall Street believe the selling has simply gone too far. Included among their ranks is Benchmark analyst Matthew Harrigan. He maintains a buy rating on Sirius XM, with a price target of $43. That represents upside potential of 59% compared to Thursday's closing price. The analyst cites an investor disconnect surrounding the recent merger. He also believes that management's "strategic initiatives" will take hold. Furthermore, the lower stock price represents a compelling opportunity for savvy investors, including Warren Buffett, who has been loading up on the stock. Sirius XM is currently selling for roughly 8 times earnings, with almost no future growth baked into the stock price -- and therein lies the opportunity. I believe that, given the steadily improving economic conditions, churn will continue to slow, and subscriber growth will gradually return, which would be just the spark needed to send Sirius XM stock higher. Symbotic: Implied upside of 115% One consequence of the rise of online retail has been a rush to bring warehouse automation into the 21st century. That's where Symbotic ( SYM 0.14% ) comes in. The company created artificial intelligence (AI) solutions to automate the processing of individual cases and full pallets to use every inch of available warehouse space. Symbotic developed advanced algorithms that control a legion of smart robots that work in concert to stock pallets, load and unload trucks, and isolate and handle individual crates. In doing so, the company can squeeze more inventory into less space, saving customers money. By increasing efficiency, reducing labor costs, and slashing operating and delivery expenses, Symbotic's systems pay for themselves in short order. The company estimates that each "module" can pay for itself several times over during its useful life, saving companies tens or even hundreds of millions of dollars. The results speak for themselves. In its fiscal 2024 fourth quarter (ended Sep. 28), Symbotic generated revenue that grew 47% year over year to $577 million while delivering EPS of $0.05, swinging from a sizable loss in the prior-year quarter. After announcing a restatement of earlier 2024 quarterly financial reports, management noted these resulted from timing differences with "no impact to full-year fiscal year 2024 results." On Thursday, Symbotic filed its annual report with no additional changes, removing the final overhang from the stock. In the wake of the company's quarterly results, Cantor Fitzgerald analyst Derek Soderberg reiterated his overweight (buy) rating and $60 price target on the stock, which represents potential upside of 115% compared to Thursday's closing price. The bullish take came after the analyst quizzed management about its recent international expansion agreement with Walmex and the state of its warehouse-as-a-service joint venture . Similar to many early-stage, high-growth stocks, Symbotic stock carries a bit of additional risk, so any position should be sized accordingly. On the bright side, after its recent sell-off, Symbotic is selling for a song at just 1.5 times sales. I would suggest that's an attractive price to pay for a leader in an emerging AI-fueled industry.NEW YORK (AP) — President-elect wants to turn the lights out on daylight saving time. In a post on his social media site Friday, Trump said his party would try to end the practice when he returns to office. “The Republican Party will use its best efforts to eliminate Daylight Saving Time, which has a small but strong constituency, but shouldn’t! Daylight Saving Time is inconvenient, and very costly to our Nation,” he wrote. Setting clocks forward one hour in the spring and back an hour in the fall is intended to maximize daylight during summer months, but has long been subject to scrutiny. Daylight saving time was first adopted as a wartime measure in 1942. Lawmakers have occasionally proposed getting rid of the time change altogether. The most prominent recent attempt, a now-stalled bipartisan bill named the , had proposed making daylight saving time permanent. The measure was , whom Trump has tapped to helm the State Department. Related Articles “Changing the clock twice a year is outdated and unnecessary,” Republican Sen. Rick Scott of Florida said as the Senate voted in favor of the measure. Health experts have said that lawmakers have it backward and that standard time should be made permanent. , including the American Medical Association and American Academy of Sleep Medicine, have said that it’s time to do away with time switches and that sticking with standard time aligns better with the sun — and human biology. do not observe daylight saving time. For those that do, the date that clocks are changed varies, creating a complicated tapestry of changing time differences. Arizona and Hawaii don’t change their clocks at all.
Romanian far-right candidate says democracy 'cancelled' along with election
LOS ANGELES — Top-ranked South Carolina felt something it hasn't known in over 2 1/2 years. The sting of defeat after being thoroughly dominated in a 77-62 loss to No. 5 UCLA on Sunday. Gone was the overall 43-game winning streak. Done was the run of 33 consecutive road victories. And the No. 1 ranking it's held for 23 consecutive polls will disappear Monday. "This is what we usually do to teams," coach Dawn Staley said. "We were on the receiving end of it." South Carolina hadn't lost since April 2023, when Caitlin Clark and Iowa beat the Gamecocks in the national semifinals of the NCAA Tournament. The Bruins (5-0) shot 47% from the floor and 3-point range, hit 11 of 14 free throws and had five players in double figures. "They actually executed our game plan to a T," Staley said. The Gamecocks (5-1) were held to 36% shooting, had just two players in double figures and neither was leading scorer Chloe Kitts, who was held to 2 points on 1 of 7 shooting. They never led, got beat on the boards, 41-34, and were outscored 26-18 in the paint and 8-1 in fast break points. They only made eight trips to the free throw line. "Our kids fought," Staley said, "but we ran into a buzzsaw." South Carolina did manage to limit 6-foot-7 UCLA star Lauren Betts, who had 11 points and 14 rebounds, despite no longer having a dominant center of their own. The Bruins responded by getting the ball to others and eight of their 10 players scored. "We did an excellent job on Betts and we got killed by everyone else," Staley said. Tessa Johnson was the only other Gamecock in double figures with 14. "We needed a lot more than Tessa today," Staley said. The Gamecocks never got their offense in gear, starting the game 0 for 9 before trailing 20-10 at the end of the first quarter. They were down 43-22 at halftime. "Our shot selection is something we're dealing with on a daily basis," Staley said. The Gamecocks outscored UCLA 40-34 in the second half, but the Bruins' big early lead easily held up. "Beautiful basketball by UCLA," Staley said. "You can't help but to love up on it cause it was fluid on both sides of the ball." Given that it's only late November, the Gamecocks have plenty of time to figure things out. "We had some really good contributions from people that don't play a whole lot and we could probably give a little bit more minutes to," Staley said. "Taking a loss will help us focus on anybody that we play."
Global reaction to the fall of Assad ranges from jubilation to alarmSchmidt scores 19 off the bench, Valparaiso downs Eastern Illinois 81-53SAN FRANCISCO--(BUSINESS WIRE)--Nov 26, 2024-- PagerDuty, Inc. (NYSE:PD), a leader in digital operations management, today announced financial results for the third quarter of fiscal 2025, ended October 31, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241126811639/en/ (Graphic: Business Wire) “PagerDuty delivered a solid quarter with revenue and non-GAAP operating income results well above third quarter guidance ranges with annual recurring revenue increasing to $483 million, growing 10% year-over-year,” said Chairperson and CEO, Jennifer Tejada. “Consistent performance over the past four quarters has led to stabilization across all business segments, and along with improving leading indicators, positions the business on a strong upward trajectory.” Third Quarter Fiscal 2025 Financial Highlights Revenue was $118.9 million, an increase of 9.4% year over year. Loss from operations was $10.3 million; operating margin was negative 8.7%. Non-GAAP operating income was $25.0 million; non-GAAP operating margin was 21.0%. Net loss per share attributable to PagerDuty, Inc. common stockholders was $0.07. Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders was $0.25. Net cash provided by operating activities was $22.1 million, with free cash flow of $19.4 million. Cash, cash equivalents, and investments were $542.2 million as of October 31, 2024. The section titled “Non-GAAP Financial Measures” below contains a description of the non-GAAP financial measures and reconciliations between GAAP and non-GAAP financial information. Third Quarter and Recent Highlights Customers with annual recurring revenue over $100 thousand grew 6% to 825 as of October 31, 2024, compared to 778 a year ago. Dollar-based net retention rate was 107% as of October 31, 2024, compared to 110% a year ago. Free and paid customers totaled more than 30,000 as of October 31, 2024, representing approximately 11% growth year over year. Total paid customers were 15,050 as of October 31, 2024, compared to 15,049 a year ago. Remaining performance obligations were $405 million as of October 31, 2024. Of this amount, the Company expects to recognize revenue of approximately $278 million, or 69%, over the next 12 months with the balance to be recognized as revenue thereafter. (1) Lands and expands include: Alphonso Inc,, CFP Energy Limited, Cloudflare, Infosys, NVIDIA Corporation, Waste Management Inc., and Zscaler. Announced Jennifer Tejada as guest speaker during the 2024 AWS re:Invent keynote. Introduced enterprise-grade, AI-powered innovations. Released Total Economic Impact Study revealing a 249% return on investment over three years using the PagerDuty Operations Cloud. Recognized as a Leader in 2024 GigaOm Radar for AIOps. Showcased PagerDuty customer - Anaplan. Recognized by Fortune's Best Workplaces as one of the top 25 companies for women in their small and medium designation. (1) Beginning in the first quarter of fiscal 2025, the Company began to include contracts with an original term of less than 12 months in this disclosure which comprised $116 million of remaining non-cancelable performance obligations as of October 31, 2024. Financial Outlook For the fourth quarter of fiscal 2025, PagerDuty currently expects: Total revenue of $118.5 million - $120.5 million, representing a growth rate of 7% - 8% year over year. Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.15 - $0.16 assuming approximately 93 million diluted shares and a non-GAAP tax rate of 23%. For the full fiscal year 2025, PagerDuty currently expects: Total revenue of $464.5 million - $466.5 million (compared to the previous guidance of $463.0 million - $467.0 million), representing a growth rate of 8% year over year. Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.78 - $0.79 (up from $0.67 - $0.72) assuming approximately 95 million diluted shares and a non-GAAP tax rate of 23%. These statements are forward-looking and actual results may differ materially. Please refer to the section titled "Forward-Looking Statements" below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. PagerDuty has not reconciled forward-looking net loss per share attributable to PagerDuty, Inc. common stock holders to forward-looking non-GAAP net income per share attributable to PagerDuty, Inc. common stockholders because certain items are out of PagerDuty's control or cannot be reasonably predicted. Accordingly, such reconciliation is not available without unreasonable effort. Conference Call Information PagerDuty will host a conference call and live webcast (Zoom meeting ID 975 4160 6140) for analysts and investors at 2:00 p.m. Pacific Time on November 26, 2024. For audio only, the dial-in number 1-312-626-6799 may be used. This news release with the financial results will be accessible from PagerDuty’s website at investor.pagerduty.com prior to the conference call. A live webcast of the conference call will be accessible from the PagerDuty investor relations website at investor.pagerduty.com . Supplemental Financial and Other Information Supplemental financial and other information can be accessed through PagerDuty’s investor relations website at investor.pagerduty.com . PagerDuty uses the investor relations section on its website as the means of complying with its disclosure obligations under Regulation FD. Accordingly, we recommend that investors monitor PagerDuty’s investor relations website in addition to following PagerDuty’s press releases, SEC filings, social media, including PagerDuty’s LinkedIn account ( https://www.linkedin.com/company/482819 ), X (formerly Twitter) account @pagerduty, the X account @jenntejada and Facebook page (facebook.com/pagerduty), and public conference calls and webcasts. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our future financial performance and outlook, and market positioning. Words such as “expect,” “extend,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “accelerate,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks and other factors detailed in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (SEC) on March 18, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024 and other filings and reports that we may file from time to time with the SEC. In particular, the following risks and uncertainties, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the effect of unfavorable conditions in our industry or the global economy, or reductions in information technology spending on our business and results of operations; our ability to achieve and maintain future profitability; our ability to attract new customers and retain and sell additional functionality and services to our existing customers; our ability to sustain and manage our growth; our dependence on revenue from a single product; our ability to compete effectively in an increasingly competitive market; and general global market, political, economic, and business conditions. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. About PagerDuty, Inc. PagerDuty, Inc. (NYSE:PD) is a global leader in digital operations management, enabling customers to achieve operational efficiency at scale with the PagerDuty Operations Cloud. The PagerDuty Operations Cloud combines AIOps, Automation, Customer Service Operations and Incident Management with a powerful generative AI assistant to create a flexible, resilient and scalable platform to increase innovation velocity, grow revenue, reduce cost, and mitigate the risk of operational failure. Half of the Fortune 500 and nearly 70% of the Fortune 100 rely on PagerDuty as essential infrastructure for the modern enterprise. To learn more and try PagerDuty for free, visit www.pagerduty.com . The PagerDuty Operations Cloud The PagerDuty Operations Cloud is the platform for mission-critical, time-critical operations work in the modern enterprise. Through the power of AI and automation, it detects and diagnoses disruptive events, mobilizes the right team members to respond, and streamlines infrastructure and workflows across your digital operations. The Operations Cloud is essential infrastructure for revolutionizing digital operations to compete and win as a modern digital business. PAGERDUTY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Cost of revenue (1) 20,268 19,705 59,691 57,474 Gross profit 98,678 89,015 286,362 262,108 Operating expenses: Research and development (1) 34,267 34,272 106,878 104,221 Sales and marketing (1) 49,272 49,630 148,737 143,155 General and administrative (1) 25,432 25,955 78,800 77,547 Total operating expenses 108,971 109,857 334,415 324,923 Loss from operations (10,293 ) (20,842 ) (48,053 ) (62,815 ) Interest income (2) 6,912 6,029 21,408 15,242 Interest expense (2,377 ) (1,454 ) (6,888 ) (4,184 ) Gain on partial extinguishment of convertible senior notes — 3,970 — 3,970 Other income (expense), net (2) 346 (834 ) 212 (960 ) Loss before (provision for) benefit from income taxes (5,412 ) (13,131 ) (33,321 ) (48,747 ) (Provision for) benefit from income taxes (715 ) 41 (1,335 ) 197 Net loss $ (6,127 ) $ (13,090 ) $ (34,656 ) $ (48,550 ) Net loss attributable to redeemable non-controlling interest (203 ) (324 ) (681 ) (1,513 ) Net loss attributable to PagerDuty, Inc. $ (5,924 ) $ (12,766 ) $ (33,975 ) $ (47,037 ) Less: Adjustment attributable to redeemable non-controlling interest 634 2,359 9,881 4,088 Net loss attributable to PagerDuty, Inc. common stockholders $ (6,558 ) $ (15,125 ) $ (43,856 ) $ (51,125 ) Weighted average shares used in calculating net loss per share, basic and diluted 91,438 93,104 92,530 92,257 Net loss per share, basic and diluted, attributable to PagerDuty, Inc. common stockholders $ (0.07 ) $ (0.16 ) $ (0.47 ) $ (0.55 ) (1) Includes stock-based compensation expense as follows: Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Cost of revenue $ 1,432 $ 1,820 $ 4,696 $ 5,860 Research and development 11,576 11,128 34,640 34,002 Sales and marketing 7,639 8,094 23,702 22,362 General and administrative 11,126 10,786 34,041 32,686 Total $ 31,773 $ 31,828 $ 97,079 $ 94,910 (2) Includes a reclassification for the three and nine months ended October 31, 2023 for a portion of other income to the interest income line item to conform to current period presentation. PAGERDUTY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 326,440 $ 363,011 Investments 215,722 208,178 Accounts receivable, net of allowance for credit losses of $803 and $1,382 as of October 31, 2024 and January 31, 2024, respectively 75,182 100,413 Deferred contract costs, current 19,632 19,502 Prepaid expenses and other current assets 17,157 12,094 Total current assets 654,133 703,198 Property and equipment, net 19,573 17,632 Deferred contract costs, non-current 24,167 25,118 Lease right-of-use assets 2,436 3,789 Goodwill 137,401 137,401 Intangible assets, net 23,698 32,616 Other assets 5,346 5,552 Total assets $ 866,754 $ 925,306 Liabilities, redeemable non-controlling interest, and stockholders’ equity Current liabilities: Accounts payable $ 7,116 $ 6,242 Accrued expenses and other current liabilities 15,801 15,472 Accrued compensation 34,474 30,239 Deferred revenue, current 214,058 223,522 Lease liabilities, current 3,550 6,180 Convertible senior notes, net, current 57,332 — Total current liabilities 332,331 281,655 Convertible senior notes, net, non-current 392,697 448,030 Deferred revenue, non-current 2,659 4,639 Lease liabilities, non-current 6,119 6,809 Other liabilities 4,859 5,280 Total liabilities 738,665 746,413 Redeemable non-controlling interest 16,493 7,293 Stockholders' equity Common stock — — Additional paid-in capital 699,633 774,768 Accumulated other comprehensive loss (502 ) (733 ) Accumulated deficit (586,410 ) (552,435 ) Treasury stock (1,125 ) (50,000 ) Total stockholders’ equity 111,596 171,600 Total liabilities, redeemable non-controlling interest, and stockholders' equity $ 866,754 $ 925,306 PAGERDUTY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Cash flows from operating activities: Net loss attributable to PagerDuty, Inc. common stockholders $ (6,558 ) $ (15,125 ) $ (43,856 ) $ (51,125 ) Net loss and adjustment attributable to redeemable non-controlling interest 431 2,035 9,200 2,575 Net loss (6,127 ) (13,090 ) (34,656 ) (48,550 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 5,071 5,025 15,526 15,016 Amortization of deferred contract costs 5,555 5,123 16,261 15,286 Amortization of debt issuance costs 671 523 1,950 1,456 Gain on extinguishment of convertible senior notes — (3,970 ) — (3,970 ) Stock-based compensation 31,773 31,828 97,079 94,910 Non-cash lease expense 903 1,106 2,538 3,425 Other (1,387 ) (1,524 ) (3,852 ) (1,426 ) Changes in operating assets and liabilities: Accounts receivable (8,406 ) (5,420 ) 24,751 18,983 Deferred contract costs (5,311 ) (5,520 ) (15,441 ) (12,285 ) Prepaid expenses and other assets (2,217 ) (1,289 ) (5,079 ) (2,674 ) Accounts payable (176 ) (757 ) 603 (1,002 ) Accrued expenses and other liabilities (473 ) 781 (1,302 ) 767 Accrued compensation 4,823 5,706 4,002 (13,086 ) Deferred revenue (1,070 ) (119 ) (11,386 ) (12,547 ) Lease liabilities (1,556 ) (1,486 ) (4,505 ) (4,484 ) Net cash provided by operating activities 22,073 16,917 86,489 49,819 Cash flows from investing activities: Purchases of property and equipment (552 ) (245 ) (1,646 ) (1,193 ) Capitalized internal-use software costs (2,078 ) (1,441 ) (5,019 ) (3,812 ) Purchases of available-for-sale investments (54,721 ) (43,927 ) (153,121 ) (151,984 ) Proceeds from maturities of available-for-sale investments 54,250 56,500 147,827 164,064 Proceeds from sales of available-for-sale investments — — 2,237 — Purchases of non-marketable equity investments — — — (200 ) Net cash (used in) provided by investing activities (3,101 ) 10,887 (9,722 ) 6,875 Cash flows from financing activities: Proceeds from issuance of convertible senior notes, net of issuance costs — 391,543 (403 ) 391,543 Purchases of capped calls related to convertible senior notes — (55,102 ) — (55,102 ) Repurchases of convertible senior notes — (223,471 ) — (223,471 ) Investment from redeemable non-controlling interest holder — — — 1,781 Repurchases of common stock (70,310 ) (50,000 ) (97,523 ) (50,000 ) Proceeds from employee stock purchase plan — — 5,735 6,292 Proceeds from issuance of common stock upon exercise of stock options 723 973 1,527 8,390 Employee payroll taxes paid related to net share settlement of restricted stock units (8,531 ) (9,786 ) (22,659 ) (25,772 ) Net cash (used in) provided by financing activities (78,118 ) 54,157 (113,323 ) 53,661 Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash (86 ) (177 ) (109 ) (451 ) Net change in cash, cash equivalents, and restricted cash (59,232 ) 81,784 (36,665 ) 109,904 Cash, cash equivalents, and restricted cash at beginning of period 389,234 302,139 366,667 274,019 Cash, cash equivalents, and restricted cash at end of period $ 330,002 $ 383,923 $ 330,002 $ 383,923 Non-GAAP Financial Measures This press release and the accompanying tables contain the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to PagerDuty, Inc. common stockholders, non-GAAP net income per share attributable to PagerDuty, Inc. common stockholders, free cash flow, and free cash flow margin. PagerDuty believes that non-GAAP financial measures, when taken collectively, may be helpful to investors because they provide consistency and comparability with past financial performance and can assist in comparisons with other companies, some of which use similar non-GAAP financial measures to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in PagerDuty’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by PagerDuty’s management about which expenses and income are excluded or included in determining these non-GAAP financial measures. A reconciliation is provided below for each historical non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP. Specifically, PagerDuty excludes the following from its historical and prospective non-GAAP financial measures, as applicable: Stock-based compensation: PagerDuty utilizes stock-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, stock-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period. Employer taxes related to employee stock transactions: PagerDuty views the amount of employer taxes related to its employee stock transactions as an expense that is dependent on its stock price, employee exercise and other award disposition activity, and other factors that are beyond PagerDuty’s control. As a result, employer taxes related to employee stock transactions vary for reasons that are generally unrelated to financial and operational performance in any particular period. Amortization of acquired intangible assets: PagerDuty views amortization of acquired intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period. Acquisition-related expenses: PagerDuty views acquisition-related expenses, such as transaction costs, acquisition-related retention payments, and acquisition-related asset impairment, as events that are not necessarily reflective of operational performance during a period. In particular, PagerDuty believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses. Amortization of debt issuance costs: The imputed interest rates of the Company's convertible senior notes (the "2025 Notes" and the "2028 Notes" or, collectively, the "Notes") was approximately 1.91% for the 2025 Notes and 2.13% for the 2028 Notes. This is a result of the debt issuance costs, which reduce the carrying value of the convertible debt instruments. The debt issuance costs are amortized as interest expense. The expense for the amortization of the debt issuance costs is a non-cash item, and we believe the exclusion of this interest expense will provide for a more useful comparison of our operational performance in different periods. Restructuring costs: PagerDuty views restructuring costs, such as employee severance-related costs and real estate impairment costs, as events that are not necessarily reflective of operational performance during a period. In particular, PagerDuty believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses. Gains (or losses) on partial extinguishment of convertible senior notes: PagerDuty views gains (or losses) on partial extinguishment of debt as events that are not necessarily reflective of operational performance during a period. PagerDuty believes that the consideration of measures that exclude such gain (or loss) impact can assist in the comparison of operational performance in different periods which may or may not include such gains (or losses). Adjustment attributable to redeemable non-controlling interest: PagerDuty adjusts the value of redeemable non-controlling interest of its joint venture PagerDuty K.K. according to the operating agreement. PagerDuty believes this adjustment is not reflective of operational performance during a period and exclusion of such adjustments can assist in comparison of operational performance in different periods. Income tax effects and adjustments: Based on PagerDuty's financial outlook for fiscal 2025, PagerDuty is utilizing a projected non-GAAP tax rate of 23% in order to provide better consistency across the interim reporting periods by eliminating the impact of non-recurring and period specific items, which can vary in size and frequency. PagerDuty's estimated tax rate on non-GAAP income is determined annually and may be adjusted during the year to take into account events or trends that PagerDuty believes materially impact the estimated annual rate including, but not limited to, significant changes resulting from tax legislation, material changes in the geographic mix of revenue and expenses and other significant events. Non-GAAP gross profit and non-GAAP gross margin We define non-GAAP gross profit as gross profit excluding the following expenses typically included in cost of revenue: stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, and restructuring costs. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue. Non-GAAP operating expenses We define non-GAAP operating expenses as operating expenses excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments, and asset impairment, and restructuring costs which are not necessarily reflective of operational performance during a given period. Non-GAAP operating income and non-GAAP operating margin We define non-GAAP operating income as loss from operations excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments, and asset impairment, and restructuring costs which are not necessarily reflective of operational performance during a given period. We define non-GAAP operating margin as non-GAAP operating income as a percentage of revenue. Non-GAAP net income attributable to PagerDuty, Inc. common stockholders We define non-GAAP net income attributable to PagerDuty, Inc. common stockholders as net loss attributable to PagerDuty, Inc. common stockholders excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of debt issuance costs, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments and asset impairment, restructuring costs, adjustment attributable to redeemable non-controlling interest, and income tax adjustments, which are not necessarily reflective of operational performance during a given period. Non-GAAP net income per share, basic and diluted We define non-GAAP net income per share, basic as non-GAAP net income attributable to PagerDuty, Inc. common stockholders divided by weighted average shares outstanding at the end of the reporting period. We define non-GAAP net income per share, diluted as non-GAAP net income attributable to PagerDuty, Inc. common stockholders divided by weighted average diluted shares outstanding at the end of the reporting period. Free cash flow and free cash flow margin We define free cash flow as net cash provided by operating activities, less cash used for purchases of property and equipment and capitalization of internal-use software costs. We define free cash flow margin as free cash flow as a percentage of revenue. In addition to the reasons stated above, we believe that free cash flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash in excess of our capital investments in property and equipment in order to enhance the strength of our balance sheet and further invest in our business and potential strategic initiatives. A limitation of the utility of free cash flow as a measure of our liquidity is that it does not represent the total increase or decrease in our cash balance for the period. We use free cash flow in conjunction with traditional U.S. GAAP measures as part of our overall assessment of our liquidity, including the preparation of our annual operating budget and quarterly forecasts and to evaluate the effectiveness of our business strategies. There are a number of limitations related to the use of free cash flow as compared to net cash provided by operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made. PagerDuty encourages investors to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate PagerDuty’s business. Please see the reconciliation tables at the end of this release for the reconciliation of non-GAAP financial measures to their most-comparable GAAP financial measures. PAGERDUTY, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands, except percentages and per share data) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Non-GAAP gross profit and non-GAAP gross margin Gross profit $ 98,678 $ 89,015 $ 286,362 $ 262,108 Add: Stock-based compensation 1,432 1,820 4,696 5,860 Employer taxes related to employee stock transactions 29 21 112 138 Amortization of acquired intangible assets 2,200 2,087 6,875 6,260 Restructuring costs — — (2 ) 137 Non-GAAP gross profit $ 102,339 $ 92,943 $ 298,043 $ 274,503 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Gross Margin 83.0 % 81.9 % 82.8 % 82.0 % Non-GAAP gross margin 86.0 % 85.5 % 86.1 % 85.9 % Non-GAAP operating expenses Research and development $ 34,267 $ 34,272 $ 106,878 $ 104,221 Less: Stock-based compensation 11,576 11,128 34,640 34,002 Employer taxes related to employee stock transactions 173 210 691 930 Acquisition-related expenses 227 161 750 484 Amortization of acquired intangible assets — 88 116 262 Restructuring costs — — (2 ) (5 ) Non-GAAP research and development $ 22,291 $ 22,685 $ 70,683 $ 68,548 Sales and marketing $ 49,272 $ 49,630 $ 148,737 $ 143,155 Less: Stock-based compensation 7,639 8,094 23,702 22,362 Employer taxes related to employee stock transactions 128 39 463 589 Amortization of acquired intangible assets 632 610 1,897 1,830 Restructuring costs — (1 ) (10 ) (49 ) Non-GAAP sales and marketing $ 40,873 $ 40,888 $ 122,685 $ 118,423 General and administrative $ 25,432 $ 25,955 $ 78,800 $ 77,547 Less: Stock-based compensation 11,126 10,786 34,041 32,686 Employer taxes related to employee stock transactions 122 145 463 658 Acquisition-related expenses — 530 (1 ) 530 Amortization of acquired intangible assets — 21 29 65 Restructuring costs — 133 24 1,451 Non-GAAP general and administrative $ 14,184 $ 14,340 $ 44,244 $ 42,157 Note: Certain figures may not sum due to rounding. PAGERDUTY, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued) (in thousands, except percentages and per share data) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Non-GAAP operating income and non-GAAP operating margin Loss from operations $ (10,293 ) $ (20,842 ) $ (48,053 ) $ (62,815 ) Add: Stock-based compensation 31,773 31,828 97,079 94,910 Employer taxes related to employee stock transactions 452 415 1,729 2,315 Amortization of acquired intangible assets 2,832 2,806 8,917 8,417 Acquisition-related expenses 227 691 749 1,014 Restructuring costs — 132 10 1,534 Non-GAAP operating income $ 24,991 $ 15,030 $ 60,431 $ 45,375 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Operating margin (8.7 )% (19.2 )% (13.9 )% (19.7 )% Non-GAAP operating margin 21.0 % 13.8 % 17.5 % 14.2 % Non-GAAP net income attributable to PagerDuty, Inc. common stockholders Net loss attributable to PagerDuty, Inc. common stockholders $ (6,558 ) $ (15,125 ) $ (43,856 ) $ (51,125 ) Add: Stock-based compensation 31,773 31,828 97,079 94,910 Employer taxes related to employee stock transactions 452 415 1,729 2,315 Amortization of debt issuance costs 671 523 1,950 1,456 Amortization of acquired intangible assets 2,832 2,806 8,917 8,417 Acquisition-related expenses 227 691 749 1,014 Restructuring costs — 132 10 1,534 Gain on extinguishment of convertible senior notes — (3,970 ) — (3,970 ) Adjustment attributable to redeemable non-controlling interest 634 2,359 9,881 4,088 Income tax effects and adjustments (6,310 ) (466 ) (16,402 ) (1,920 ) Non-GAAP net income attributable to PagerDuty, Inc. common stockholders $ 23,721 $ 19,193 $ 60,057 $ 56,719 Non-GAAP net income per share, basic Net loss per share, basic, attributable to PagerDuty, Inc. common stockholders $ (0.07 ) $ (0.16 ) $ (0.47 ) $ (0.55 ) Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders 0.33 0.37 1.12 1.16 Non-GAAP net income per share, basic, attributable to PagerDuty, Inc. common stockholders $ 0.26 $ 0.21 $ 0.65 $ 0.61 Non-GAAP net income per share, diluted (1) Net loss per share, diluted, attributable to PagerDuty, Inc. common stockholders $ (0.07 ) $ (0.16 ) $ (0.47 ) $ (0.55 ) Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders 0.32 0.36 1.10 1.13 Non-GAAP net income per share, diluted, attributable to PagerDuty, Inc. common stockholders $ 0.25 $ 0.20 $ 0.63 $ 0.58 Weighted-average shares used in calculating net loss per share, basic and diluted 91,438 93,104 92,530 92,257 Weighted-average shares used in calculating non-GAAP net income per share Basic 91,438 93,104 92,530 92,257 Diluted 94,036 96,235 95,549 100,834 Note: Certain figures may not sum due to rounding. (1) On October 13, 2023, the Company provided written notice to the trustee and the note holders of the 2025 Notes that it had irrevocably elected to settle the principal amount of its convertible senior notes in cash and pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in respect to the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2025 Notes being converted. The company uses the if-converted method to calculate the non-GAAP net income per diluted share attributable to PagerDuty, Inc. related to the convertible notes due 2025 prior to the election on October 13, 2023. As such, approximately 5.8 million and 6.7 million shares related to the convertible notes due 2025 were included in the non-GAAP diluted outstanding share number for the three and nine months ended October 31, 2023, respectively, related to the period prior to the election on October 13, 2023. Similarly, for the three and nine months ended October 31, 2023, the numerator used to compute this measure was increased by $0.7 million and $2.5 million, respectively, for after-tax interest expense savings related to our convertible notes. PAGERDUTY, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued) (in thousands, except percentages) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Free cash flow and free cash flow margin Net cash provided by investing activities $ 22,073 $ 16,917 $ 86,489 $ 49,819 Purchases of property and equipment (552 ) (245 ) (1,646 ) (1,193 ) Capitalization of internal-use software costs (2,078 ) (1,441 ) (5,019 ) (3,812 ) Free cash flow $ 19,443 $ 15,231 $ 79,824 $ 44,814 Net cash (used in) provided by investing activities $ (3,101 ) $ 10,887 $ (9,722 ) $ 6,875 Net cash (used in) provided by financing activities $ (78,118 ) $ 54,157 $ (113,323 ) $ 53,661 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Free cash flow margin 16.3 % 14.0 % 23.1 % 14.0 % View source version on businesswire.com : https://www.businesswire.com/news/home/20241126811639/en/ CONTACT: Investor Relations Contact: Tony Righetti investor@pagerduty.comMedia Contact: Debbie O'Brien media@pagerduty.comSOURCE PagerDuty KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ARTIFICIAL INTELLIGENCE DATA MANAGEMENT SOURCE: PagerDuty, Inc. Copyright Business Wire 2024. PUB: 11/26/2024 04:05 PM/DISC: 11/26/2024 04:05 PM http://www.businesswire.com/news/home/20241126811639/en
Worker protests over conditions, staffing are more than justified | EDITORIALThe Sri Lanka Agripreneurs’ Forum (SLAF) last week congratulated the newly elected Government and Parliament, expressing optimism for a transformative era in Sri Lanka’s agricultural and economic landscape. “SLAF firmly believes that the new Government, with its visionary leadership, has the potential to bring about the comprehensive changes needed to uplift the agriculture sector. This leadership offers a unique opportunity to address systemic challenges while fostering innovation, sustainability, and economic inclusivity, ensuring that all stakeholders benefit from a reinvigorated and modernised framework,” SLAF said in a statement. It also said the following: This juncture presents an extraordinary opportunity to strengthen the national framework for agribusinesses, fostering an inclusive climate that supports innovation, sustainability, and growth in the agriculture sector. Representing over 20,000 agripreneurs and stakeholders, SLAF is dedicated to its mission of transitioning subsistence-level farmers, reliant on subsidies, into successful agripreneurs capable of contributing significantly to the national economy. By modernising agricultural practices, streamlining value chains, and encouraging entrepreneurial spirit, the Forum envisions a future where Sri Lanka’s agricultural sector thrives as a driver of sustainable development and food security. The Forum emphasises the need for policy consistency and a collaborative approach to address longstanding challenges in the agricultural value chain. Enhancing access to modern technologies, expanding financial opportunities for agripreneurs, and improving rural infrastructure are critical to this transformation. Additionally, promoting skill development and facilitating market access will empower farmers to move beyond traditional subsistence farming into profitable and innovative ventures that benefit both the local and international markets. SLAF believes that the new Government holds the potential to implement impactful reforms that align with the broader goal of national progress. By creating a cohesive and inclusive environment, the Government can enable agripreneurs to adopt advanced practices, contribute to economic resilience, and ensure long-term sustainability. The Sri Lanka Agripreneurs’ Forum remains committed to partnering with the Government in shaping a vibrant, future-ready agriculture sector. Together, we can transform agriculture into a cornerstone of Sri Lanka’s economic growth, empowering communities and fostering shared prosperity for generations to come.