FLORHAM PARK, N.J. (AP) — The New York Jets might be dealing with an opponent even tougher to overcome than their poor play, missed opportunities and ill-timed mistakes. Wide receiver Garrett Wilson suggested last Sunday a losing “gene” might be an explanation for the Jets’ inability to pull out victories after the team dropped to 3-10 with a loss at Miami. On Wednesday, Aaron Rodgers presented another perhaps more sinister reason. “I mean, it might be something like that," the quarterback said of Wilson's theory. "It might be some sort of curse we've got to snap as well.” Generations of frustrated Jets fans have half-jokingly insisted there have been negative forces at work against the franchise since Joe Namath delivered on his Super Bowl guarantee in January 1969. It remains the team's only appearance in the NFL's biggest game. Rodgers has been there once — and won — with Green Bay. The 41-year-old quarterback came to New York hoping to finally lead the Jets back to the Super Bowl. He even commented on how lonely the team's only Lombardi Trophy looked during his introductory news conference 20 months ago. Instead, Rodgers' first season in New York was cut short by a torn Achilles tendon just four snaps in, immediately resurrecting "curse” theories among jaded Jets fans. With its loss last Sunday, New York extended its playoff drought to 14 straight years, the longest active skid among the major North American sports leagues. And the team will be looking for a new general manager and coach after this season, and Rodgers' future in New York is very much up in the air. “Whatever the case, this team, this organization is going to figure out how to get over the hump at some point,” Rodgers said. “The culture is built by the players. There’s a framework set down by the organization, by the upper ups, by the staff. But in the end, it’s the players that make it come to life. "And at some point, everybody’s going to have to figure out what that special sauce is to turn those games that should be wins into wins.” The Jets have held the lead in the fourth quarter in five games this season. They've lost each of them, including the past three games. New York's inability to come away with wins in those prompted Wilson's “gene” theory. “I’m not exactly sure what he was talking about there,” Rodgers said with a smile. "I don’t know what the proper nomenclature is for the situation where we’ve lost some leads or haven’t been able to take the lead late in the game, but that’s the way it goes sometimes. We haven’t been great in situational football. “A lot of those games come down to the plays in the first and second, even third quarter, where if you make the play the game is not in that situation. But in those situations, we haven’t been very good on offense or defense or even (special) teams.” Rodgers said “it takes a conscious effort, it takes an intentional effort” to establish a winning culture, and it includes leadership, practice habits and setting standards inside and outside of the locker room. And this year's Jets, Rodgers said, are “on the edge” of that. “We just haven’t quite figured out how to get that special sauce worked out, mixed up,” he said. “It’s close and a lot of great guys are in the locker room. There’s some good mix of veterans and young guys, but we just haven’t quite put it all together.” AP NFL: https://apnews.com/hub/NFLHoliday school vacations can be difficult for working parents. Experts would like to see more flexible work schedules and four-day workweeks. Year-round schooling could also help alleviate pressure, they say. Even before November started, I was stressed about the number of days my kids had off over the coming two months. There was Veterans Day, Thanksgiving break, winter holidays, and even a teacher in-service day thrown in for good measure. Then, my first grader missed 10 days of school due to pneumonia, and my fifth grader was struck with a stomach bug. Advertisement My husband and I are both self-employed , so with some wrangling, we were able to create a schedule that allowed us to meet our deadlines despite the kids being home seemingly constantly. We're lucky to be able to do that. And still, I kept thinking, "There must be a better way." So, I reached out to four experts on the workplace, policy, and sociology to see how we can better align the schedules of working parents and kids . Here's what they envision. Advertisement Make flexible work policies the norm Courtney Murphy, founder and CEO of WorkWell People Solutions, would like to see flexible work arrangements become the norm. She says they not only benefit parents and others with family obligations — they also serve employers by increasing productivity and job satisfaction while reducing burnout. "The ideal scenario for working parents combines hybrid work with flexible hours, focusing on outcomes rather than time spent," Murphy said. "The key is to shift from managing employees' time to managing their work, holding them accountable for results rather than hours logged." A sample policy might say something like, "Employees are empowered to manage their work schedule to meet both personal and professional responsibilities, provided all job duties are fulfilled, and team collaboration is maintained. Regular communication and coordination with managers about scheduling is expected." If set work hours are important, the company could add, "Official operating hours are 8 a.m. to 5 p.m. Employees should align with these where practical." Advertisement This approach would be tricker for service professionals, but Murphy said "creative solutions like automated services during peak family times, staggered schedules, or job-sharing could provide the necessary flexibility" for those parents too. Adopt a 4-day work and school week Joelle Moray, author of " What Are We Doing?! Radical Self-care for the Hustle Culture ," says, "A world where the four-day week exists for both employees and their families is a world I very much want to live in." In her ideal scenario, students would complete their education during four longer school days , which better aligns with parents' traditional 9-5 work schedules. Some employers are already pivoting to a four-day workweek, and those that are unable to could offer remote work where possible, she said. Advertisement Melissa Loble , chief academic officer at Instructure, an education technology company, would also like to see a four-day academic week, with an optional fifth day with a more flexible structure. On that day, students "could engage in sports activities, work-study, internships, or other types of activities that can be coordinated through the school." This approach would provide supervision during the workday while also giving "students a 'breather' day where they feel less pressure from the hectic school day and pursue their non-academic pursuits," Loble added. Advertisement Choose year-round school Margaret M. Quinlan , a professor and director of Health & Medical Humanities at the University of North Carolina at Charlotte, has a two-part solution: year-round schooling and remote work after 2 p.m. Related stories A flexible afternoon schedule "would maximize quality time with family while still fulfilling work responsibilities," Quinlan said. It would also be handy for parents like her who need to take their kids to many therapy appointments in the afternoons. She added that the US could also pivot to a shorter summer break, following countries like Australia and Japan. Advertisement In addition to reducing the challenge of finding and paying for summer childcare, "This would minimize summer learning loss and ensure that kids have access to nutritious meals and care during these breaks," Quinlan said.
NoneMexico's president discussed migration and drug trafficking with US President-elect Donald Trump on Wednesday -- two issues he had raised as justification for raising import tariffs on America's southern neighbor. Claudia Sheinbaum said she had had "an excellent conversation" with Trump, just hours after her economy minister warned that the cost to US companies of Trump's tariffs would be "huge." "We discussed Mexico's strategy regarding the phenomenon of migration," Sheinbaum said on X, adding she had told Trump that caravans of migrants "are not arriving at the northern border because they are being attended to in Mexico." They also discussed "strengthening collaboration on security issues" as well as "the campaign we are conducting in the country to prevent the consumption of fentanyl," the president said. Trump on Monday said he would impose tariffs of 25 percent on Mexican and Canadian imports and 10 percent on goods from China. "This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" Trump wrote on his Truth Social page. The Republican, who won an election in which illegal migration was a top issue, has vowed to declare a national emergency on border security and use the US military to carry out a mass deportation of undocumented migrants. Mexican Economy Minister Marcelo Ebrard said Wednesday some "400,000 jobs will be lost" in the United States if Trump followed through on his threat. He cited a study based on figures from US carmakers that manufacture in Mexico. Ebrard said the tariffs would also hit US consumers hard, citing the US market for pickup trucks -- most of which are manufactured in Mexico. The tariffs, the minister said, would add $3,000 to the cost of a new vehicle. "The impact of this measure will chiefly be felt by consumers in the United States... That is why we say that it would be a shot in the foot," Ebrard told reporters, speaking alongside Sheinbaum at her regular morning conference. Mexico and China have been particularly vociferous in their opposition to Trump's threats of a trade war from day one of his second presidential term, which begins on January 20. Sheinbaum has declared the threats "unacceptable" and pointed out that Mexico's drug cartels exist mainly to serve drug use in the United States. China has warned that "no one will win a trade war." During his first term as president, Trump launched full-blown trade hostilities with Beijing, imposing significant tariffs on hundreds of billions of dollars of Chinese goods. China responded with retaliatory tariffs on American products, particularly affecting US farmers. The United States, Mexico and Canada are tied to a three-decade-old largely duty-free trade agreement, called the USMCA, that was renegotiated under Trump after he complained that US businesses, especially automakers, were losing out. jla/cb/mlr/bjt
NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid mixed trading. The S&P 500 rose 0.2% Monday after closing November at an all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared after saying an investigation found no evidence of misconduct by its management or the company’s board. Retailers were mixed coming off Black Friday and heading into what’s expected to be the best Cyber Monday on record. Treasury yields held relatively steady in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — Technology stocks are pulling Wall Street toward another record amid mixed trading on Monday. The S&P 500 rose 0.2% in afternoon trading after closing its best month of the year at an all-time high . The Dow Jones Industrial Average was down 86 points, or 0.2%, with a little more than an hour remaining in trading, while the Nasdaq composite was 0.9% higher. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 31.1% to lead the market. Following accusations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company's board. It also said it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 2.9% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 1.1% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street's frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 3.7% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.6%. Walmart , which gave a more optimistic forecast, rose 0.3%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.3%. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday's headliner report to show U.S. employers accelerated their hiring in November, coming off October's lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.3 US senators urge Biden administration to protect immigrants before Trump takes office
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Jack Henry & Associates Inc. stock remains steady Friday, underperforms marketThe much-hyped Mike Tyson fight against YouTuber-turned-boxer Jake Paul showed the potential power of Netflix to create live, global sports events on streaming video. For many people though, it also demonstrated the limitations of the technology. Thousands of Netflix users reported technical difficulties while trying to watch the fight. Frustrated viewers contended with buffering and blurry video, a result of tens of millions of households trying to watch the bout at once. It’s the kind of thing that, if the event were aired on a traditional network, would have provoked angry calls to cable companies. Live sports is considered one of the great opportunities for streamers, including Netflix, which need mass audiences tuning in to please advertisers. Companies including Amazon and Apple are spending big, driving up the price of live sports rights and encroaching further on the turf of legacy network rivals. But sports are also a challenge for tech firms. Even without buffering or grainy feeds, live streams are typically delayed compared with cable and satellite broadcasts, which means streaming audiences risk seeing spoilers on social media if the events are simulcast. For Netflix, the stakes are high. The company will host its first live NFL games on Christmas, including one featuring a halftime show from Beyoncé. Netflix is also preparing to air WWE’s “Raw” pro-wrestling franchise starting next year. Brandon Riegg, Netflix’s vice president of nonfiction series and sports, said he has “full faith” in the company’s engineering team, which learned much from the Paul vs. Tyson live match and will adjust before the NFL games. Netflix said it worked quickly to stabilize the viewing for a majority of its subscribers during the boxing event, in which the 27-year-old Paul defeated the 58-year-old Tyson. “We were overwhelmed in the sense of the expectation — it far exceeded our expectations in terms of how many people came to the fight,” Riegg told The Los Angeles Times. “It’s as simple as that. As much as we forecast how many people would come, many, many more people came. It’s impossible for our engineering team to test that magnitude of traffic and viewership unless they have a real, live thing, which is what happened.” On the bright side, Netflix showed that it can be a big draw for sports fans, with an average audience of 108 million live viewers globally tuning in for the fight. Netflix said there were 65 million live concurrent streams, calling it the “most-streamed global sporting event ever.” Industry observers say the day is coming when streamers could place their own bid to host the Super Bowl on their platforms, as long as they can handle the traffic. “Once they prove that they’re capable of delivering a consistent, robust, top-of-the-line, premium experience for these events that consumers have grown to expect, then I have no doubt that we’re going to get there,” said Rob Rosenberg, a former Showtime Networks executive and founder of New York-based Telluride Legal Strategies. The technological challenges aren’t unique to Netflix. Glitches have arisen during other live events streamed on competitors’ platforms, including on YouTube during an NFL game last year and on Amazon’s Prime Video during a Thursday Night Football game in 2022. There are various reasons why buffering occurs, particularly with a highly-anticipated program. When a sporting event is being live streamed, the captured video is released in smaller segments of a few seconds in length that are then transmitted to streaming subscribers and decoded by the users’ devices. If too many devices are seeking those video segments at the same time, it can cause a backlog. Streamers can try to solve the problem by rerouting traffic, but even that sometimes isn’t enough. Streaming services can try to prepare ahead of time by buying more bandwidth capacity from the internet service providers, but it can be difficult to guess how many people will watch, especially if the streamer is new to a particular type of content. There may be limits on how much bandwidth companies can buy. For example, Australia has much less available bandwidth compared with the United States, said Simon Wistow, a co-founder and vice president of strategic initiatives at cloud computing company Fastly. Wistow added that if streamers buy too much capacity and it isn’t used, that’s wasted money. “There’s a lot of complexities, a lot of things go on,” Wistow said. “The scale of internet traffic just gets bigger and bigger every year.” Netflix said it will improve its systems to better handle live events at unprecedented scale and work with ISPS to continue increasing its capacity. The company has been steadily putting on more live events, such as a hot dog eating competition, Screen Actors Guild Awards and a tennis exhibition match. The company’s first live event was a Chris Rock comedy special last year, which has drawn 23.5 million views. An early effort at live streaming, a “Love Is Blind” reunion special, encountered technical trouble due to a bug that went unnoticed until people tried to watch the program. The Paul vs. Tyson event was a new milestone for Netflix’s live streaming efforts. For some viewers, like Florida resident Malcolm Scott, the streamer’s issues were unacceptable. Scott even sued Netflix for breach of contract last week, alleging that Netflix viewers missed large portions of the fight. Netflix declined to comment on the lawsuit. Brian Comiskey, a futurist at the trade group Consumer Technology Assn., chalked Netflix’s problems up to technological growing pains. “At the end of the day this is content being delivered from thousands of miles away via files,” said Comiskey, calling himself a millennial who remembers what it was like pre-smartphone. “This is a tremendous step in technology, but it only gets better from there.” Brian Rolapp, the NFL’s chief media and business officer said he believes Netflix will be ready to stream its games. “I think it shows the power of their global platform, their international reach, which is one reason why we did this deal,” Rolapp said during the Sports Business Journal Media Innovators Conference. “So, I think what they did was pretty extraordinary.” Get local news delivered to your inbox!
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Mexico's president discussed migration and drug trafficking with US President-elect Donald Trump on Wednesday -- two issues he had raised as justification for raising import tariffs on America's southern neighbor. Claudia Sheinbaum said she had had "an excellent conversation" with Trump, just hours after her economy minister warned that the cost to US companies of Trump's tariffs would be "huge." "We discussed Mexico's strategy regarding the phenomenon of migration," Sheinbaum said on X, adding she had told Trump that caravans of migrants "are not arriving at the northern border because they are being attended to in Mexico." They also discussed "strengthening collaboration on security issues" as well as "the campaign we are conducting in the country to prevent the consumption of fentanyl," the president said. Trump on Monday said he would impose tariffs of 25 percent on Mexican and Canadian imports and 10 percent on goods from China. "This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" Trump wrote on his Truth Social page. The Republican, who won an election in which illegal migration was a top issue, has vowed to declare a national emergency on border security and use the US military to carry out a mass deportation of undocumented migrants. Mexican Economy Minister Marcelo Ebrard said Wednesday some "400,000 jobs will be lost" in the United States if Trump followed through on his threat. He cited a study based on figures from US carmakers that manufacture in Mexico. Ebrard said the tariffs would also hit US consumers hard, citing the US market for pickup trucks -- most of which are manufactured in Mexico. The tariffs, the minister said, would add $3,000 to the cost of a new vehicle. "The impact of this measure will chiefly be felt by consumers in the United States... That is why we say that it would be a shot in the foot," Ebrard told reporters, speaking alongside Sheinbaum at her regular morning conference. Mexico and China have been particularly vociferous in their opposition to Trump's threats of a trade war from day one of his second presidential term, which begins on January 20. Sheinbaum has declared the threats "unacceptable" and pointed out that Mexico's drug cartels exist mainly to serve drug use in the United States. China has warned that "no one will win a trade war." During his first term as president, Trump launched full-blown trade hostilities with Beijing, imposing significant tariffs on hundreds of billions of dollars of Chinese goods. China responded with retaliatory tariffs on American products, particularly affecting US farmers. The United States, Mexico and Canada are tied to a three-decade-old largely duty-free trade agreement, called the USMCA, that was renegotiated under Trump after he complained that US businesses, especially automakers, were losing out. jla/cb/mlr/bjtLuxembourg – 11 December 2024 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial 1 contract for a subsea tieback development in the US Gulf of Mexico. Subsea7's scope of work includes the engineering, procurement, construction, and installation (EPCI) of subsea equipment, including structures, umbilicals, production risers, and flowlines. Project management and engineering work will start immediately at Subsea7's office in Houston, Texas, with offshore activities expected to begin in 2026. Craig Broussard, Senior Vice President of Subsea7 Gulf of Mexico, said, “ We are proud to be part of this high-pressure deepwater subsea tieback development. This project builds on our strong track record of successfully delivering oil and gas projects in the deepwater Gulf of Mexico .” Subsea7 defines a substantial contract as being between $150 million and $300 million. ******************************************************************************* Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries: Katherine Tonks Investor Relations Director Tel +44 20 8210 5568 ir@subsea7.com Contact for media enquiries: Ashley Shearer Communications Manager Tel +1-713-300-6792 ashley.shearer@subsea7.com Forward-Looking Statements: This document may contain ‘forward-looking statements’ (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘future’, ‘goal’, ‘intend’, ‘likely’ ‘may’, ‘plan’, ‘project’, ‘seek’, ‘should’, ‘strategy’ ‘will’, and similar expressions. The principal risks which could affect future operations of the Group are described in the ‘Risk Management’ section of the Group’s Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 11 December 2024 at 23:25 CET. Attachment SUBC Gulf of Mexico Dec 2024HOUSTON (AP) — Kavion McClain scored 14 points as Texas Southern beat Texas A&M-Kingsville 80-72 on Wednesday. McClain added six assists for the Tigers (2-5). Grayson Carter scored 13 points, shooting 6 of 7 from the field. Kenny Hunter and Alex Anderson both added 12. The Javelinas were led by Isaiah Payne, who recorded 18 points and four assists. Texas A&M-Kingsville also got 16 points from Allen Singleton. Nate Lacewell also had 13 points and seven rebounds. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar . For copyright information, check with the distributor of this item, Data Skrive.Kendall Jenner shares glimpse into festive Christmas eve party
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Spears added five rebounds for the Roadrunners (2-3). Jonnivius Smith scored 11 points while shooting 5 of 7 from the field and added 20 rebounds. Marcus Millender went 3 of 9 from the field (2 for 6 from 3-point range) to finish with 10 points. Adam Clark led the way for the Warriors (1-6) with 28 points, six rebounds and four steals. Devon Savage added 15 points for Merrimack. Bryan Etumnu finished with 12 points, 11 rebounds and four blocks. The loss was the Warriors' sixth in a row. Damari Monsanto put up eight points in the first half for UTSA, who led 37-36 at halftime. Spears scored a team-high 24 points for UTSA in the second half. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
First Quarter Highlights Revenue grows 26% year-over-year to $628.0 million Calculated billings grows 13% year-over-year to $516.7 million Deferred revenue grows 27% year-over-year to $1,783.7 million GAAP net loss of $12.1 million compared to GAAP net loss of $33.5 million on a year-over-year basis Non-GAAP net income of $124.3 million compared to non-GAAP net income of $86.4 million on a year-over-year basis SAN JOSE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Zscaler, Inc. ZS , the leader in cloud security, today announced financial results for its first quarter of fiscal year 2025 , ended October 31, 2024. "Growing customer engagements and strong sales execution drove a solid Q1 with all metrics exceeding our guidance. The combination of Zero Trust and AI is creating exciting new opportunities, which we are well positioned to capture with our large and expanding platform," said Jay Chaudhry, Chairman and CEO of Zscaler. "With our customer obsession, the world's largest cybersecurity cloud, and an upleveled go-to-market machine, we are driving strong growth." First Quarter Fiscal 2025 Financial Highlights Revenue: $628.0 million, an increase of 26% year-over-year. Income (loss) from operations: GAAP loss from operations was $30.7 million, or 5% of revenue, compared to $46.1 million, or 9% of revenue, in the first quarter of fiscal 2024. Non-GAAP income from operations was $134.1 million, or 21% of revenue, compared to $89.7 million, or 18% of revenue, in the first quarter of fiscal 2024. Net income (loss) : GAAP net loss was $12.1 million, compared to $33.5 million in the first quarter of fiscal 2024. Non-GAAP net income was $124.3 million, compared to $86.4 million in the first quarter of fiscal 2024. Net income (loss) per share, diluted: GAAP net loss per share was $0.08, compared to $0.23 in the first quarter of fiscal 2024. Non-GAAP net income per share was $0.77, compared to $0.55 in the first quarter of fiscal 2024. Cash flows: Cash provided by operations was $331.3 million, or 53% of revenue, compared to $260.8 million, or 53% of revenue, in the first quarter of fiscal 2024. Free cash flow was $291.9 million, or 46% of revenue, compared to $224.7 million, or 45% of revenue, in the first quarter of fiscal 2024. Deferred revenue: $1,783.7 million as of October 31, 2024, an increase of 27% year-over-year. Cash, cash equivalents and short-term investments: $2,707.9 million as of October 31, 2024, an increase of $298.2 million from July 31, 2024. Recent B usiness Highlights Zscaler's cloud security platform reached a new scalability milestone, surpassing half a trillion daily transactions, which is nearly 60 times greater than the total number of Google searches per day. This milestone underscores the unparalleled scalability, resilience, and trust customers have placed in the Zscaler platform, which enables organizations to secure users, applications, and devices, while simplifying operations and consolidating costs. Appointed Adam Geller as Chief Product Officer to accelerate Zscaler's next phase of innovation and growth. Geller's proven security product and engineering experience will be invaluable to the development of Zscaler's AI-driven security operations platform. Announced a set of AI and Zero Trust integrations with the CrowdStrike Falcon® cybersecurity platform to advance security operations by providing advanced threat detection, response, and risk management. Announced four new integrations with Okta designed to accelerate joint customers' Zero Trust transformation by delivering end-to-end, context-aware security. Together, Okta and Zscaler are helping customers reduce risk, improve the user experience, and enable cross-domain response through shared telemetry and threat intelligence. Published the Zscaler ThreatLabz 2024 Mobile, IoT, and OT Threat Report, which provides detailed insights covering mobile and IoT/OT cyber threat landscape from June 2023 through May 2024. ThreatLabz found that the Zscaler cloud blocked 45% more IoT malware transactions than last year–indicating botnets continue to proliferate across IoT devices. Change in Non-GAAP Measures Presentation Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change. Financial Outlook For the second quarter of fiscal 2025, we expect: Revenue of $633 million to $635 million Non-GAAP income from operations of $126 million to $128 million Non-GAAP net income per share of approximately $0.68 to $0.69, assuming approximately 163 million fully diluted shares outstanding and a non-GAAP tax rate of 23% For the full year of fiscal 2025, we expect: Revenue of approximately $2.623 billion to $2.643 billion Calculated billings of $3.124 billion to $3.149 billion Non-GAAP income from operations of $549 million to $559 million Non-GAAP net income per share of $2.94 to $2.99, assuming approximately 164 million fully diluted shares outstanding and a non-GAAP tax rate of 23% These statements are forward-looking and actual results may differ materially. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. Guidance for non-GAAP income from operations excludes stock-based compensation expense and related employer payroll taxes, amortization of debt issuance costs, and amortization expense of acquired intangible assets. We have not reconciled our expectations of non-GAAP income from operations and non-GAAP net income per share to their most directly comparable GAAP measures because certain items are out of our control or cannot be reasonably predicted. For those reasons, we are also unable to address the probable significance of the unavailable information, the variability of which may have a significant impact on future results. Accordingly, a reconciliation for the guidance for non-GAAP income from operations and non-GAAP net income per share is not available without unreasonable effort. For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the "Explanation of Non-GAAP Financial Measures" section of this press release. Conference Call and Webcast Information Zscaler will host a conference call for analysts and investors to discuss its first quarter of fiscal 2025 and outlook for its second quarter of fiscal 2025 and full year fiscal 2025 today at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). Date: Monday, December 2, 2024 Time: 1:30 p.m. PT Webcast: https://ir.zscaler.com Dial-in: To join by phone, register at the following link: ( https://register.vevent.com/register/BIe2c2c82d1e694dd3a00b3debc6f30548 ). After registering, you will be provided with a dial-in number and a personal PIN that you will need to join the call. Upcoming Conferences Second quarter of fiscal 2025 investor conference participation schedule: UBS Global Technology and AI Conference in Scottsdale Wednesday, December 4, 2024 BTIG Virtual Software Forum Monday, December 9, 2024 Scotiabank Annual Global Technology Conference in San Francisco Tuesday, December 10, 2024 Barclays Annual Global Technology Conference in San Francisco Wednesday, December 11, 2024 Needham Growth Conference Thursday, January 9, 2025 and Friday, January 10, 2025 Sessions which offer a webcast will be available on the Investor Relations section of the Zscaler website at https://ir.zscaler.com/ Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding our future financial and operating performance, including our financial outlook for the second quarter of fiscal 2025 and full year fiscal 2025. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including but not limited to: macroeconomic influences and instability, geopolitical events, operations and financial results and the economy in general; risks related to the use of AI in our platform; our limited operating history; our ability to identify and effectively implement the necessary changes to address execution challenges; risks associated with managing our rapid growth, including fluctuations from period to period; our limited experience with new products and subscriptions and support introductions and the risks associated with new products and subscription and support offerings, including the discovery of software bugs; our ability to attract and retain new customers; the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support; rapidly evolving technological developments in the market for network security products and subscription and support offerings and our ability to remain competitive; length of sales cycles; useful lives of our assets and other estimates; and general market, political, economic and business conditions. Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" set forth from time to time in our filings and reports with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the fiscal year ended July 31, 2024, filed on September 12, 2024, as well as future filings and reports by us, copies of which are available on our website at ir.zscaler.com and on the SEC's website at www.sec.gov . You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Use of Non-GAAP Financial Information We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. For further information regarding why we believe that these non-GAAP measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the "Explanation of Non-GAAP Financial Measures" section of this press release. About Zscaler Zscaler ZS accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust ExchangeTM platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 160 data centers globally, the SSE-based Zero Trust Exchange is the world's largest in-line cloud security platform. ZscalerTM and the other trademarks listed at https://www.zscaler.com/legal/trademarks are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners. Investor Relations Contacts Ashwin Kesireddy VP, Investor Relations and Strategic Finance (415) 798-1475 ir@zscaler.com Natalia Wodecki Media Relations Contact press@zscaler.com ZSCALER, INC. Condensed Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) Three Months Ended October 31, 2024 2023 Revenue $ 627,955 $ 496,703 Cost of revenue (1) (2) 141,462 111,394 Gross profit 486,493 385,309 Operating expenses: Sales and marketing (1) (2) 306,087 267,111 Research and development (1) (2) 154,254 113,539 General and administrative (1) 56,819 50,716 Total operating expenses 517,160 431,366 Loss from operations (30,667 ) (46,057 ) Interest income 30,048 25,942 Interest expense (3) (3,143 ) (3,159 ) Other expense, net (652 ) (1,212 ) Loss before income taxes (4,414 ) (24,486 ) Provision for income taxes 7,637 8,997 Net loss $ (12,051 ) $ (33,483 ) Net loss per share, basic and diluted $ (0.08 ) $ (0.23 ) Weighted-average shares used in computing net loss per share, basic and diluted 152,557 147,625 (1) Includes stock-based compensation expense and related payroll taxes as follows: Cost of revenue $ 15,793 $ 12,955 Sales and marketing 64,866 58,668 Research and development 58,865 41,043 General and administrative 21,050 20,063 Total $ 160,574 $ 132,729 (2) Includes amortization expense of acquired intangible assets as follows: Cost of revenue $ 3,675 $ 2,717 Sales and marketing 425 226 Research and development 140 93 Total $ 4,240 $ 3,036 (3) Includes amortization of debt issuance costs $ 981 $ 977 ZSCALER, INC. Condensed Consolidated Balance Sheets (in thousands) (unaudited) October 31, July 31, 2024 2024 Assets Current assets: Cash and cash equivalents $ 1,553,645 $ 1,423,080 Short-term investments 1,154,252 986,574 Accounts receivable, net 424,573 736,529 Deferred contract acquisition costs 152,475 148,873 Prepaid expenses and other current assets 108,835 101,561 Total current assets 3,393,780 3,396,617 Property and equipment, net 409,005 383,121 Operating lease right-of-use assets 84,091 89,758 Deferred contract acquisition costs, noncurrent 286,656 296,525 Acquired intangible assets, net 59,595 63,835 Goodwill 417,029 417,029 Other noncurrent assets 58,846 58,083 Total assets $ 4,709,002 $ 4,704,968 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 25,368 $ 23,309 Accrued expenses and other current liabilities 83,384 91,708 Accrued compensation 126,379 160,810 Deferred revenue 1,533,080 1,643,919 Convertible senior notes 1,145,799 1,142,275 Operating lease liabilities 49,600 50,866 Total current liabilities 2,963,610 3,112,887 Deferred revenue, noncurrent 250,640 251,055 Operating lease liabilities, noncurrent 41,938 44,824 Other noncurrent liabilities 24,269 22,100 Total liabilities 3,280,457 3,430,866 Stockholders' Equity Common stock 153 152 Additional paid-in capital 2,593,010 2,426,819 Accumulated other comprehensive loss (4,487 ) (4,789 ) Accumulated deficit (1,160,131 ) (1,148,080 ) Total stockholders' equity 1,428,545 1,274,102 Total liabilities and stockholders' equity $ 4,709,002 $ 4,704,968 ZSCALER, INC. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended October 31, 2024 2023 Cash Flows from Operating Activities Net loss $ (12,051 ) $ (33,483 ) Adjustments to reconcile net loss to cash provided by operating activities: Depreciation and amortization expense 21,423 13,962 Amortization expense of acquired intangible assets 4,240 3,036 Amortization of deferred contract acquisition costs 39,068 30,111 Amortization of debt issuance costs 981 977 Non-cash operating lease costs 15,657 9,903 Stock-based compensation expense 157,178 129,138 Accretion of investments purchased at a discount (5,003 ) (3,199 ) Unrealized losses on hedging transactions 3,689 1,564 Deferred income taxes 186 (43 ) Other 644 1,031 Changes in operating assets and liabilities, net of effects of business acquisitions: Accounts receivable 311,975 215,082 Deferred contract acquisition costs (32,801 ) (27,680 ) Prepaid expenses, other current and noncurrent assets (8,767 ) 1,349 Accounts payable 1,043 4,596 Accrued expenses, other current and noncurrent liabilities (6,240 ) 4,859 Accrued compensation (34,431 ) (39,232 ) Deferred revenue (111,254 ) (40,154 ) Operating lease liabilities (14,202 ) (11,011 ) Net cash provided by operating activities 331,335 260,806 Cash Flows from Investing Activities Purchases of property, equipment and other assets (17,025 ) (28,659 ) Capitalized internal-use software (22,429 ) (7,429 ) Payments for business acquisitions, net of cash acquired — (4,377 ) Purchase of strategic investments (561 ) — Purchases of short-term investments (430,296 ) (375,929 ) Proceeds from maturities of short-term investments 268,651 253,849 Net cash used in investing activities (201,660 ) (162,545 ) Cash Flows from Financing Activities Proceeds from issuance of common stock upon exercise of stock options 890 1,256 Net cash provided by financing activities 890 1,256 Net increase in cash and cash equivalents 130,565 99,517 Cash and cash equivalents at beginning of period 1,423,080 1,262,206 Cash and cash equivalents at end of period $ 1,553,645 $ 1,361,723 ZSCALER, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except percentages) (unaudited) Three Months Ended October 31, 2024 2023 Revenue $ 627,955 $ 496,703 Non-GAAP Gross Profit and Non-GAAP Gross Margin GAAP gross profit $ 486,493 $ 385,309 Add: Stock-based compensation expense and related payroll taxes 15,793 12,955 Add: Amortization expense of acquired intangible assets 3,675 2,717 Non-GAAP gross profit $ 505,961 $ 400,981 GAAP gross margin 77 % 78 % Non-GAAP gross margin 81 % 81 % Non-GAAP Income from Operations and Non-GAAP Operating Margin GAAP loss from operations $ (30,667 ) $ (46,057 ) Add: Stock-based compensation expense and related payroll taxes 160,574 132,729 Add: Amortization expense of acquired intangible assets 4,240 3,036 Non-GAAP income from operations $ 134,147 $ 89,708 GAAP operating margin (5 )% (9 )% Non-GAAP operating margin 21 % 18 % ZSCALER, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except per share amounts) (unaudited) Three Months Ended October 31, 2024 2023 Non-GAAP Net Income per Share, Diluted GAAP net loss $ (12,051 ) $ (33,483 ) Add: GAAP provision for income taxes 7,637 8,997 GAAP loss before income taxes (4,414 ) (24,486 ) Add: Stock-based compensation expense and related payroll taxes 160,574 132,729 Amortization expense of acquired intangible assets 4,240 3,036 Amortization of debt issuance costs 981 977 Non-GAAP net income before income taxes 161,381 112,256 Non-GAAP provision for income taxes (1) 37,118 25,819 Non-GAAP net income $ 124,263 $ 86,437 Add: Non-GAAP interest expense related to the convertible senior notes 359 359 Numerator used in computing non-GAAP net income per share, diluted $ 124,622 $ 86,796 GAAP net loss per share, diluted $ (0.08 ) $ (0.23 ) Stock-based compensation expense and related payroll taxes 1.00 0.84 Amortization expense of acquired intangible assets 0.03 0.02 Amortization of debt issuance costs 0.01 0.01 Non-GAAP provision for income taxes adjustment (2) (0.18 ) (0.11 ) Non-GAAP interest expense related to the convertible senior notes — — Adjustment to total fully diluted earnings per share (3) (0.01 ) 0.02 Non-GAAP net income per share, diluted $ 0.77 $ 0.55 Weighted-average shares used in computing GAAP net loss per share, diluted 152,557 147,625 Add: Outstanding potentially dilutive equity incentive awards 2,348 3,431 Add: Convertible senior notes 7,626 7,626 Less: Antidilutive impact of capped call transactions (4) (1,235 ) (177 ) Weighted-average shares used in computing non-GAAP net income per share, diluted 161,296 158,505 ___________________ (1) Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods in fiscal 2025 and beyond. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change. (2) Adjustment related to the difference between the GAAP provision for income taxes and Non-GAAP provision for income taxes. (3) The sum of the fully diluted earnings per share impact of individual reconciling items may not total to fully diluted non-GAAP net income per share due to the weighted-average shares used in computing the GAAP net loss per share differs from the weighted-average shares used in computing the non-GAAP net income per share, and due to rounding of the individual reconciling items. The GAAP net loss per share calculation uses a lower share count as it excludes potentially dilutive shares, which are included in calculating the non-GAAP net income per share. (4) We exclude the in-the-money portion of the convertible senior notes for non-GAAP weighted-average diluted shares as they are covered by our capped call transactions. Our outstanding capped call transactions are antidilutive under GAAP but are expected to mitigate the dilutive effect of the convertible senior notes, and therefore are included in the calculation of non-GAAP diluted shares outstanding. The capped calls have an antidilutive impact when the average stock price of our common stock in a given period is higher than their exercise price. ZSCALER, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (in thousands, except percentages) (unaudited) Three Months Ended October 31, 2024 2023 Calculated Billings Revenue $ 627,955 $ 496,703 Add: Total deferred revenue, end of period 1,783,720 1,399,544 Less: Total deferred revenue, beginning of period (1,894,974 ) (1,439,676 ) Calculated billings $ 516,701 $ 456,571 Free Cash Flow Net cash provided by operating activities $ 331,335 $ 260,806 Less: Purchases of property, equipment and other assets (17,025 ) (28,659 ) Less: Capitalized internal-use software (22,429 ) (7,429 ) Free cash flow $ 291,881 $ 224,718 Free Cash Flow Margin Net cash provided by operating activities, as a percentage of revenue 53 % 53 % Less: Purchases of property, equipment and other assets, as a percentage of revenue (3 )% (6 )% Less: Capitalized internal-use software, as a percentage of revenue (4 )% (2 )% Free cash flow margin 46 % 45 % ZSCALER, INC. Explanation of Non-GAAP Financial Measures In addition to our results determined in accordance with generally accepted accounting principles in the United States of America ("GAAP"), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, as it has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In particular, free cash flow is not a substitute for cash provided by operating activities. Additionally, the utility of free cash flow as a measure of our liquidity is further limited as it does not represent the total increase or decrease in our cash balance for a given period. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation of our historical non-GAAP financial measures to their most directly comparable financial measures stated in accordance with GAAP has been included in this press release. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. Investors are encouraged to review these reconciliations, and not to rely on any single financial measure to evaluate our business. Expenses Excluded from Non-GAAP Measures Stock-based compensation expense is excluded primarily because it is a non-cash expense that management believes is not reflective of our ongoing operational performance. Employer payroll taxes related to stock-based compensation, which is a cash expense, are excluded because these are tied to the timing and size of the exercise or vesting of the underlying equity incentive awards and the price of our common stock at the time of vesting or exercise, which may vary from period to period independent of the operating performance of our business. Amortization expense of acquired intangible assets and amortization of debt issuance costs from the convertible senior notes are excluded because these are non-cash expenses and are not reflective of our ongoing operational performance. Effective August 1, 2024, the beginning of our fiscal year ending July 31, 2025, we are using a long-term projected non-GAAP tax rate of 23% for the purpose of determining our non-GAAP net income and non-GAAP net income per share to provide better consistency across interim reporting periods. Given the significant growth of our business and non-GAAP operating income, we believe this change is necessary to better reflect the performance of our business. We will continue to assess the appropriate non-GAAP tax rate on a regular basis, which could be subject to changes for a variety of reasons, including the rapidly evolving global tax environment, significant changes in our geographic earnings mix, or other changes to our strategy or business operations. Prior period amounts have been recast to reflect this change. Non-GAAP Financial Measures Non-GAAP Gross Profit and Non-GAAP Gross Margin . We define non-GAAP gross profit as GAAP gross profit excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue. Non-GAAP Income from Operations and Non-GAAP Operating Margin . We define non-GAAP income from operations as GAAP loss from operations excluding stock-based compensation expense and related employer payroll taxes and amortization expense of acquired intangible assets. We define non-GAAP operating margin as non-GAAP income from operations as a percentage of revenue. Non-GAAP Net Income per Share, Diluted . We define non-GAAP net income as GAAP net loss excluding stock-based compensation expense and related employer payroll taxes, amortization expense of acquired intangible assets, amortization of debt issuance costs, and the non-GAAP provision for income taxes adjustment. We define non-GAAP net income per share, diluted, as non-GAAP net income plus the non-GAAP interest expense related to the convertible senior notes divided by the weighted-average diluted shares outstanding, which includes the effect of potentially diluted common stock equivalents outstanding during the period and the anti-dilutive impact of the capped call transactions entered into in connection with the convertible senior notes. Calculated Billings . We define calculated billings as revenue plus the change in deferred revenue in a period. Calculated billings in any particular period aims to reflect amounts invoiced for subscriptions to access our cloud platform, together with related support services for our new and existing customers. We typically invoice our customers annually in advance, and to a lesser extent quarterly in advance, monthly in advance or multi-year in advance. Free Cash Flow and Free Cash Flow Margin . We define free cash flow as net cash provided by operating activities less purchases of property, equipment and other assets and capitalized internal-use software. We define free cash flow margin as free cash flow divided by revenue. We believe that free cash flow and free cash flow margin are useful indicators of liquidity that provide information to management and investors about the amount of cash generated from our operations that, after the investments in property, equipment and other assets and capitalized internal-use software, can be used for strategic initiatives. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
"Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" To keep reading, please log in to your account, create a free account, or simply fill out the form below.NoneEuropean Residential Real Estate Investment Trust ( TSE:ERE-UN – Get Free Report )’s share price dropped 0.5% during trading on Friday . The stock traded as low as C$3.77 and last traded at C$3.82. 271,963 shares were traded during trading, The stock had previously closed at C$3.84. European Residential Real Estate Investment Trust Stock Down 0.5 % The company has a debt-to-equity ratio of 256.06, a quick ratio of 0.20 and a current ratio of 0.27. The firm has a market cap of C$351.44 million, a price-to-earnings ratio of 20.11 and a beta of 1.28. The business’s 50 day moving average price is C$3.52 and its 200 day moving average price is C$3.00. European Residential Real Estate Investment Trust Company Profile ( Get Free Report ) ERES is an unincorporated, open-ended real estate investment trust. ERES's REIT Units are listed on the TSX under the symbol ERE.UN. ERES is Canada's only European-focused multi-residential REIT, with a current portfolio of high-quality, multi-residential real estate properties in the Netherlands. Read More Receive News & Ratings for European Residential Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for European Residential Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter .