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Pete Hegseth appears to have won over a prominent holdout in his quest to serve as President-elect Donald Trump’s Department of Defense secretary. Iowa Republican Sen. Joni Ernst signaled support for Hegseth’s nomination following their meeting Monday afternoon. “I appreciate Pete Hegseth’s responsiveness and respect for the process,” Ernst said in a statement following the meeting. “Following our encouraging conversations, Pete committed to completing a full audit of the Pentagon and selecting a senior official who will uphold the roles and values of our service men and women — based on quality and standards, not quotas — and who will prioritize and strengthen my work to prevent sexual assault within the ranks.” (EXCLUSIVE: Hegseth Confirmation Battle Heats Up With New Ad Targeting Joni Ernst) “As I support Pete through this process, I look forward to a fair hearing based on truth, not anonymous sources,” Ernst added. 🚨BREAKING: Senator Joni Ernst announces her SUPPORT For Pete Hegseth as Secretary of Defense. Ernst says she believes Pete Hegseth and not “anonymous sources” WE WON: pic.twitter.com/j73zDDkdtV — Benny Johnson (@bennyjohnson) December 9, 2024 Ernst, who sits on the Senate Armed Services Committee, is seen as a crucial vote Hegseth has to secure in his fight to win Senate confirmation. Hegseth is facing scrutiny from Ernst and other Republican senators over anonymous sexual assault and drinking allegations , which he and his former colleagues have fiercely denied . Hegseth praised Ernst following the meeting, calling the Iowa Republican a “dedicated” voice on defense issues. “The more we talk, the more we’re reminded of as two combat veterans how dedicated we are to defense,” Hegseth told reporters. No Republican senators have pledged to oppose Hegseth’s nomination, but several senators, including Republican Maine Sen. Susan Collins and Republican Alaska Sen. Lisa Murkowski, are noncommittal. Hegseth met with Ernst last week, but the Iowa Republican notably withheld her support, telling reporters they would continue having “constructive conversations” regarding his nomination. Hegseth told SiriusXM’s Megyn Kelly last Wednesday that he believed his nomination to serve as defense secretary was being subjected to a “smear campaign.” (RELATED: Pete Hegseth Tells Megyn Kelly He Believes He Is Being ‘Kavanaugh’d’ During Confirmation Process) . @PeteHegseth responds to 2017 rape accusation, the settlement with the accuser, and how he changed his life https://t.co/zha7qV7p4a — The Megyn Kelly Show (@MegynKellyShow) December 4, 2024 “I had a member, not 45 minutes ago, look me in the eye in private, just he and I, and say ‘That’s what they’re trying to do to you,'” Hegseth told Kelly. “‘That’s their playbook. Get ready for more, and they’re gonna make it up, just like they have so far. All anonymous, all innuendo, all rumor, nothing sourced, no verification and they’re just gonna keep doing it, because you’re a threat to them. You’re a threat to their system. You’re a threat to all the things in Washington D.C., the swamp, the things that people have rejected. You’re a threat to that, and so they’re coming after you.'” Ernst’s signal of support for Hegseth follows President-elect Donald Trump’s public defense of his embattled defense secretary nominee. “Pete is a WINNER, and there is nothing that can be done to change that!!!,” Trump wrote in a Truth Social post on Dec. 6. All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org .
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, /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that it will release financial results for its second quarter of fiscal year 2025, ended , after the close of the New York Stock Exchange trading session on . On , at , AAR will hold a conference call to discuss the results. A listen-only webcast and slides can be accessed at . Participants may join via phone by registering at . Once registered, participants will receive a dial-in number and a unique PIN that will allow them to access the call. A replay of the conference call will be available for on-demand listening shortly after the completion of the call at the webcast link and will remain available for approximately one year. AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at . Director of Investor Relations +1-630-227-5830 View original content to download multimedia: SOURCE AAR CORP.
Andrej Stojakovic made 11 free throws to help craft a team-high 20 points, freshman Jeremiah Wilkinson had his second consecutive big game off the bench and Cal ran its winning streak to three with an 83-77 nonconference victory over Sacramento State on Sunday afternoon in Berkeley, Calif. Wilkinson finished with 16 points and Rytis Petraitis 13 for the Golden Bears (5-1), whose only loss this season was at Vanderbilt. Jacob Holt went for a season-high 25 points for the Hornets (1-4), who dropped their fourth straight after a season-opening win over Cal State Maritime. Seeking a fourth straight home win, Cal led by as many as 12 points in the first half and 40-33 at halftime before Sacramento State rallied. The Hornets used a 14-5 burst out of the gate following the intermission to grab a 47-45 lead. Julian Vaughns had a 3-pointer and three-point play in the run. But Cal dominated pretty much the rest of the game, taking the lead for good on a Petraitis 3-pointer with 14:50 remaining. Stojakovic, a transfer from rival Stanford, went 11-for-15 at the foul line en route to his third 20-point game of the young season. Cal outscored Sacramento State 26-17 on free throws to more than account for the margin of victory. Coming off a 23-point explosion in his first extended action of the season, Wilkinson hit five of his 10 shots Sunday. The Golden Bears outshot the Hornets 47.2 percent to 43.1 percent. Joshua Ola-Joseph contributed 10 points and six rebounds, Mady Sissoko also had 10 points and Petraitis found time for a team-high five assists. Holt complemented his 25 points with a game-high eight rebounds. He made four 3-pointers, as did Vaughns en route to 18 points, helping Sacramento State outscore Cal 30-21 from beyond the arc. EJ Neal added 16 points for the Hornets, while Emil Skytta tied for game-high assist honors with five to go with seven points. --Field Level MediaAt launch events for both the and , Apple made much of its new Apple Intelligence software features: a collection of AI tools and features intended to help you get more from your iPhone. Now, those features are starting to roll out—though we’re still waiting for certain upgrades. Here’s everything you can do at the moment in Apple Intelligence on iOS 18.2, in the parts of the world where it has launched (including the US and Canada). You’ll also need an iPhone 15 Pro, an iPhone 15 Pro Max, or any of the iPhone 16 models to access these AI functions. You’ll be prompted to set up Apple Intelligence right after upgrading to iOS 18, but if you need to set it up later, head to Settings in iOS: Tap , and then . You’ll get an explanation of some of the AI upgrades you can use, and a short demo of how they work. You can also choose to enable notification summaries as you work through the setup process. The feature will be explained on screen, but it’s basically exactly what it sounds like: Apple Intelligence will attempt to summarize multiple notifications from the same apps, so you don’t have to waste time wading through each one. iOS will give you the option of choosing particular categories for summaries (you can change this later if needed): , , and . Some trial and error will probably be needed to figure out how you want to use it—it doesn’t necessarily work great . The AI image creation capabilities need to be downloaded and installed separately. The easiest way to trigger this is to find the new Image Playground app on your phone. Once you’ve launched this, and followed the prompts on screen, the image creation setup process is initiated (you’ll get a notification when it’s ready to use). This setup process covers the Image Playground app (for general AI image creation), Genmoji (emoji made from your text prompts), and the Image Wand (which lets you turn rough sketches into AI images through the Notes app). If you try to use these apps ahead of time, you’ll see a message saying the necessary files are still being downloaded. Finally, you can set up ChatGPT inside Siri. If you choose from iOS Settings then tap on , you can give Siri access to ChatGPT for longer or more complex answers. You can connect an existing ChatGPT account to Siri, but you don’t need to (if you’ve got a ChatGPT Plus account, connecting this will mean you “can use advanced ChatGPT capabilities more often” ). The menu in Settings gives you access to most of the settings you’ll need to manage AI on your iPhone. You can enable or disable the AI features on your handset, for example, as well as control which apps have access to these tools (you might not want every app infused with some extra AI). Right now, you can split Apple Intelligence features on the iPhone into three sections. The first is Writing Tools, which show up in any app with a text box: Select the text you’re composing, then tap on the toolbar that pops up. You can have the text rewritten in a certain style or tone, or proofread it for errors. You can also expand or shorten blocks of text, and compose new text with ChatGPT. You can also use Writing Tools to summarize existing blocks of text. For example: Highlight text on a webpage, then choose , and you can pick from , , , or to get a more digestible breakdown. You can use it on long emails, long documents, or anywhere else summaries are useful. These summaries are presented in a separate overlay on screen. The second group of tools covers image creation, and we’ve already mentioned the three key components in the setup section. Launch the Image Playground app, and you can start prompting: Ask for a cabin in the woods, or a cosy winter scene, or a cat heading off to space on a rocketship. Whatever you can imagine, Image Playground can create. You can also add to prompts using suggested themes, costumes, and other tweaks. Genmoji is similar, but for emojis: Look for the Genmoji symbol on the right of the emoji keyboard in any app. There’s also the Image Wand, which you can find in the drawing tools inside any note in Notes: Tap the pen icon then the wand (which looks like a magic wand), and you’re able to start creating images with a combination of AI and your own drawing. Finally, there’s ChatGPT in Siri. Whenever you launch Siri by saying “hey Siri” or by pressing and holding the power button, you’ll see a suggestion to use ChatGPT for certain prompts and questions. You can also specify that ChatGPT gets used in your requests—so you could say “hey Siri, use ChatGPT to plan out a birthday party for a 5-year-old that lasts an hour” for example. ChatGPT can also lend a hand in a feature called Visual Intelligence, though this is an iPhone 16 exclusive. Launch the iPhone Camera app, get something in shot, then press and hold the Camera Control button on the side of your phone. Tap the speech bubble button on screen, and ChatGPT will give you a description of what you’re looking at, and any more information you need about it. There are more features on the way too: More advanced and personalized Siri responses are expected for iOS 18.4, and it’s thought Apple is working on its own ChatGPT competitor so that eventually Siri won’t need any extra help. More picture styles are for Image Playground too.BMO Capital Markets Forecasts Strong Price Appreciation for Dollar Tree (NASDAQ:DLTR) Stock
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Washington: In the heat of the 2000 presidential campaign, Democratic candidate vice president Al Gore took a break from barnstorming battleground states to attend a fundraiser for the Democratic National Committee in East Hampton, New York. Standing behind Gore onstage was Scott Bessent, a hedge fund manager and — at the time — a major donor to Democrats who cohosted the event at his home. On Saturday AEDT, Bessent was tapped by President-elect Donald Trump to be his Treasury secretary. Having won the trust of Trump and his inner circle, Bessent would lead a Republican economic agenda of cutting taxes, culling federal regulations and enacting sweeping tariffs. As Treasury secretary, Scott Bessent would help Donald Trump as he attempts to remake the US economy. Credit: AP The selection caps an extraordinary career arc for an investor who was once a protege of liberal billionaire philanthropist George Soros and gave money to top Democrats, including Hillary Clinton, John Kerry and Barack Obama. “He was very supportive of the causes and the people that we supported,” said Will Trinkle, a Democrat who cohosted the event with Gore. He noted that Bessent, who would be the first openly gay Treasury secretary, was a strong advocate for gay rights and marriage equality. If confirmed by the Senate, Bessent would help Trump as he attempts to remake the US economy. As Treasury secretary, Bessent would work to steer tax cuts through Congress, lead trade negotiations with China and help cull federal regulations that Trump believes are stifling the economy. Bessent, 62, declined to be interviewed. But friends and former colleagues described him as driven by data and as intellectually curious, with an ability to work with people from across the ideological and political spectrum. Raised in a fishing village in South Carolina, Bessent is the son of a real estate developer who experienced several of his own financial booms and busts. He went on to Yale University, where he was class treasurer, wrote for The Yale Daily News and wanted to become a journalist. In college, Bessent reflected on the challenges of being a Southerner in New England, writing in the paper in 1981: “I was the only one in the dorm who was heartbroken when George Wallace decided not to run for president.” Bessent studied political science but ended up working in finance after getting an internship with Jim Rogers, an investor and business partner of Soros’. In the 1990s, he worked as a partner at Soros Fund Management, gaining notoriety by betting against the British pound and earning the firm $US1 billion. After leaving to start his own fund, Bessent returned in 2011 to become Soros’ chief investment officer. By then, Bessent had become a major donor to Republican candidates. According to a summary of his donations provided by his office, Bessent has given about $US15 million ($23 million) to political causes over the years, and all but $US300,000 has gone to Republicans. He gave $US1 million to Trump’s inauguration in 2016. Scott Bessent has described tariffs as a useful tool for achieving foreign policy objectives. Credit: Bloomberg Bessent was not part of Trump’s political orbit during his first campaign or term as president but has known the Trump family for decades and was close friends with the president-elect’s late brother, Robert. This past spring, when many business leaders were hesitant to back Trump publicly as his legal troubles mounted, Bessent took a different view. He saw Trump as a “stock that goes up on bad news”, as he explained it to political analyst Mark Halperin last month, because every apparent setback appeared to strengthen his candidacy. Concerned about the exploding national debt and the need to change the international trading system, Bessent set up a meeting with Trump and started exchanging economic policy ideas. In recent months, Bessent has pitched a “3-3-3” plan that would aim for 3 per cent economic growth, reduce the budget deficit to 3 per cent of gross domestic product and increase domestic oil production by 3 million barrels per day. He also came up with an idea that would allow the president to essentially sideline the chair of the Federal Reserve, although he has backed down from that proposal in the face of opposition. In some policy areas, Bessent has demonstrated an inclination to temper Trump’s economic impulses. He suggested that Trump’s idea of assigning a 15 per cent tax rate to companies that produce their products in the US could run afoul of international trade laws. And he has described Trump’s plan for blanket tariffs as a “maximalist” negotiating strategy, suggesting that tariffs should be phased in to give markets time to adjust. Bessent was chosen after an internal tussle among Trump’s aides over the job. Howard Lutnick, Trump’s transition team co-chair and chief executive of Cantor Fitzgerald, made a late pitch to secure the Treasury secretary role for himself. As Trump was deciding, sceptics of Bessent raised concerns about his ties to Soros and suggested he was not a true believer in tariffs. However, he won the public support of key advisers to Trump such as Larry Kudlow and Steve Bannon, who viewed him as the best choice. Loading For Bessent, the challenge now will be remaining in Trump’s good graces as the president-elect once again looks to upend the international trading system and rewrite the tax code. Trump’s first Treasury secretary, Steven Mnuchin, often tried to dissuade Trump from imposing new tariffs and would attempt to calm markets as trade tensions flared. Still, he managed to maintain Trump’s trust. Stanley Druckenmiller, a hedge fund investor who worked with Bessent at Soros Fund Management, said that although Bessent is soft-spoken, he can also be “tough and persuasive” and that he has the right temperament to work for a demanding boss such as Trump. “If anybody can handle it, it’s Scott,” Druckenmiller said. This article originally appeared in The New York Times . Save Log in , register or subscribe to save articles for later. US Votes 2024 USA US politics Donald Trump For subscribers Most Viewed in World LoadingWOBURN, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Bridgeline Digital, Inc. (NASDAQ: BLIN ), a global leader in AI-powered marketing technology, today announced financial results for its fiscal fourth quarter ended September 30, 2024. “HawkSearch is the leader in AI-powered product discovery. This year we nearly doubled our sales contracts, launched a new HawkSearch site every week, had better than 103% net revenue retention for HawkSearch, and released 5 AI products under the HawkSearch brand,” said Ari Kahn, Bridgeline’s President and Chief Executive Officer. “We begin 2025 with the largest sales pipeline in the company’s history, an AI product suite that both existing customer and new customers need, and an outstanding industry reputation from customers and analysts.” Financial Highlights – Fourth Quarter of Fiscal Year 2024 Total revenue was $3.9 million, compared to $3.8 million in the prior year period. Subscription and licenses revenue was $3.0 million, compared to $3.1 million in the prior year period. Gross profit was $2.7 million, compared to $2.6 million in the prior year period. Gross margin was 69% compared to 68% in the prior year period. Financial Highlights – Fiscal Year 2024 Total revenue was $15.4 million, compared to $15.9 million in the prior year period. Subscription and licenses revenue was $12.1 million, compared to $12.7 million in the prior year period. Gross profit was $10.4 million, compared to $10.9 million in the prior year period. Gross margin was 68% compared to 68% in the prior year period. Sales Highlights In the fourth quarter of fiscal year 2024, Bridgeline signed 17 license sales, adding over $360 thousand in annual recurring revenue. For fiscal year 2024, Bridgeline signed 83 license sales, adding $2.1 million in annual recurring revenue, totaling $6.2 million in new customer contracts. Demand for AI-powered search is transforming sales, as companies align with customer expectations for smarter search experiences. This surge in demand for higher quality search is driving upgrades to Bridgeline’s HawkSearch platform. Product Highlights The Hawk AI Product Suite now includes advanced features like Smart Search, Smart Response, and Smart Tools. A new Smart Agent lets users adjust prompts and foundation model settings through an intuitive interface to optimize interactions with Hawk AI. HawkSearch launched Conversational Search. Powered by GenAI, this feature uses NLP to interpret user intent and phrasing, transforming searches into conversational interactions with accurate, meaningful results. HawkSearch launched Smart Facets for Concept Search. Powered by GenAI, Smart Facets transforms the search experience by enabling users to ask detailed, context-rich questions that automatically select relevant search facets. HawkSearch announced a new Smart Response feature that analyzes PDF content and delivers specific answers to user queries. The innovation includes tools for extracting content from large PDF repositories and using GenAI to create helpful search features such as thumbnails of PDFs, summaries of pages within each PDF, and extraction of other important metadata such as file names and categorization. HawkSearch’s Rapid UI Framework had a major update launched, which included a new GenAI capability component that accelerates the integration of Smart Response into search interfaces. Partner Highlights Optimizely is promoting HawkSearch as a top paid app in their app store and HawkSearch-AI was showcased at Opticon 2024 in San Antonio, Texas in November. HawkSearch announced a leading distributor of fasteners and industrial supplies has selected HawkSearch to enhance their on-site search capabilities. This distributor, the first lead from our partner Xngage, will use HawkSearch to power their product discovery on the Optimizely platform using the Xngage XConnect connector for HawkSearch. HawkSearch was named Moblico Partner of the Year. Moblico’s integration of HawkSearch’s AI capabilities enhances mobile engagement for distributors, optimizing real-time shopping experiences and increasing customer retention. This collaboration allows distributors to provide personalized customer experiences, leading to increased revenue and stronger market positioning. Product Genius Technology, a leading provider of innovative solutions with decades of experience in the fastener industry, partnered with HawkSearch to provide patented search technology to enhance customer engagement and drive sales by simplifying the search, sort and display of complex product categories. Human Element, Inc., a leading eCommerce services agency, will leverage HawkSearch AI-powered search technology to enhance customer engagement and drive sales for eCommerce platforms. Human Element will partner with HawkSearch to expand its offerings for B2B and B2C merchants to include AI-powered search technology, and the partnership gives Adobe Commerce (Magento), BigCommerce, and Shopify platform users easy access to HawkSearch’s AI-powered search. Customer Highlights Duda has expanded its partnership with the WooRank SEO platform. The agency now offers WooRank’s SEO insights and performance data as part of its top-tier SEO package, enhancing its clients' digital marketing strategies. An aftermarket automotive truck parts retailer has chosen HawkSearch to power product discovery for its eCommerce website. The retailer is set to boost sales using HawkSearch's AI-powered Smart Search which allows customers to enter a concept or question into the search bar and receive more accurate, relevant results tailored to the customer’s query. A top 10 U.S. electrical distributor has expanded its license with HawkSearch to enhance its Salesforce B2B Commerce experience. HawkSearch will support over 740 profit centers, improving the distributor’s product discovery with the Unit of Measure Conversion feature, while providing additional hosting services to address growing traffic demands. A leader in fastener distribution has selected HawkSearch to enhance its search experience across 15 countries and 12 languages, leveraging HawkSearch’s Keyword & Concept Search to improve product discovery. Additionally, it will optimize part number searches, ensure accurate results for terms with varying spacing, support different format variations, and incorporate advanced machine learning and reporting capabilities. A leading manufacturer and distributor of life safety gear, equipment, and training for first responders selected HawkSearch to improve their on-site search and merchandising powered by Salesforce Commerce Cloud. The manufacturer will also leverage Instant Engage for surfacing trending items, categories, and content as soon as the user clicks on the search box. A prominent supplier in the construction materials testing equipment industry has selected HawkSearch and will leverage Instant Engage and Autocomplete to display popular products, category pages, and relevant content as soon as users interact with the search bar. A leading wholesale hardware distributor has selected HawkSearch to deliver an improved product discovery experience with highly relevant, accurate search results and personalized recommendations for their Optimizely Configured Commerce site. Financial Results – Fourth Quarter of Fiscal Year 2024 Total revenue, which is comprised of Licenses and Services revenue, was $3.9 million for the quarter ended September 30, 2024, as compared to $3.8 million for the same period in 2023. Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue was $3.0 million for the quarter ended September 30, 2024, as compared to $3.1 million for the same period in 2023. As a percentage of total revenue, Subscription and licenses revenue was 78% of total revenue for the quarter ended September 30, 2024, compared to 81% for the same period in 2023. Services revenue was $0.8 million for the quarter ended September 30, 2024, as compared to $0.7 million for the same period in 2023. As a percentage of total revenue, Services revenue accounted for 22% of total revenue for the quarter ended September 30, 2024, compared to 19% for the same period in 2023. Cost of revenue was $1.2 million for the quarter ended September 30, 2024, as compared to $1.2 million for the same period in 2023. Gross profit was $2.7 million for the quarter ended September 30, 2024, as compared to $2.6 million for the same period in 2023. Gross margin was 69% for the quarter ended September 30, 2024, as compared to 68% for the same period in 2023. Subscription and licenses gross margin was 72% for three months ended September 30, 2024, as compared to 73% for the same period in 2023. Services gross margin was 58% for the three months ended September 30, 2024, as compared to 46% for the same period in 2023. Operating expenses were $3.1 million for the quarter ended September 30, 2024, as compared to $10.8 million for the same period in 2023 which included a goodwill impairment of $7.5 million. Operating loss for the quarter ended September 30, 2024 was $0.5 million, as compared to $8.2 million for the same period in 2023 which included the impact of a goodwill impairment. The warrant liability revaluation resulted in a nominal non-cash loss attributable to the change in the fair value of the warrant liabilities for the quarter ended September 30, 2024. This compares to a non-cash gain from revaluation of $0.2 million for the same period in 2023. Net loss for the quarter ended September 30, 2024, was $0.4 million, compared to a net loss of $8.1 million for the same period in 2023 which included the impact of goodwill impairment. Financial Results – Year-to-Date Twelve Months of Fiscal Year 2024 Total revenue, which is comprised of Licenses and Services revenue, was $15.4 million for the twelve months ended September 30, 2024, as compared to $15.9 million for the same period in 2023. Subscription and licenses revenue, which is comprised of SaaS licenses, maintenance and hosting revenue and perpetual license revenue was $12.1 million for the twelve months ended September 30, 2024, as compared to $12.7 million for the same period in 2023. As a percentage of total revenue, Subscription and licenses revenue was 79% of total revenue for the twelve months ended September 30, 2024, compared to 80% for the same period in 2023. Services revenue was $3.2 million for the twelve months ended September 30, 2024, as compared to $3.1 million for the same period in 2023. As a percentage of total revenue, Services revenue accounted for 21% of total revenue for the twelve months ended September 30, 2024, compared to 20% for the same period in 2023. Cost of revenue was $4.9 million for the twelve months ended September 30, 2024, as compared to $5.0 million for the same period in 2023. Gross profit was $10.4 million for the twelve months ended September 30, 2024, as compared to $10.9 million for the same period in 2023. Gross margin was 68% for the twelve months ended September 30, 2024, as compared to 68% for the same period in 2023. Subscription and licenses gross margin were 72% for the twelve months ended September 30, 2024, as compared to 74% for the same period in 2023. Services gross margin was 52% for the twelve months ended September 30, 2024, as compared to 48% for the same period in 2023. Operating expenses were $12.5 million for the twelve months ended September 30, 2024, as compared to $20.8 million for the same period in 2023 which included a goodwill impairment of $7.5 million. Operating loss for the twelve months ended September 30, 2024, was $2.0 million, as compared to an operating loss of $9.9 million for the same period in 2023 which included the impact of the goodwill impairment. The warrant liability revaluation resulted in a $0.1 million non-cash gain attributable to the change in the fair value of the warrant liabilities for the twelve months ended September 30, 2024. This compares to a non-cash gain the change in the fair value of $0.6 million for the same period in 2023. Net loss for the twelve months ended September 30, 2024, was $2.0 million, compared to a net loss of $9.4 million for the same period in 2023, which included the impact of the goodwill impairment. Conference Call Bridgeline Digital, Inc. will hold a conference call today, December 23, 2024, at 4:30 p.m. Eastern Time to discuss these results. The Company’s President and Chief Executive Officer, Ari Kahn, and Chief Financial Officer, Thomas Windhausen, will host the call, followed by a question-and-answer period. The details of the conference call and replay are as follows: Bridgeline Digital Fourth Quarter 2024 Earnings Call Monday, December 23, 2024, at 4:30 p.m. ET Participants can register for the conference call using the above URL above. Once registered, participants will receive dial-in numbers and unique PIN number. Non-GAAP Financial Measures This press release contains the following Non-GAAP financial measures: Adjusted EBITDA, Non-GAAP adjusted net income (loss), and Non-GAAP adjusted net earnings (loss) per diluted share. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation expense, impairment of goodwill and intangible assets, non-cash warrant related income/expense, changes in fair value of contingent consideration, restructuring and acquisition-related costs, amortization of debt discounts, preferred stock dividends and any related tax effects. Bridgeline uses Adjusted EBITDA and Non-GAAP adjusted net income (loss) as supplemental measures of our performance that are not required by, or presented in accordance with, accounting principles generally accepted in the United States ("GAAP"). Non-GAAP adjusted net income (loss) and Non-GAAP adjusted net income (loss) per diluted share are calculated as net income (loss) or net income (loss) per share on a diluted basis, excluding, where applicable, amortization of intangible assets, change in fair value of warrants, stock-based compensation, restructuring and acquisition-related costs, goodwill impairment charges, preferred stock dividends and any related tax effects. Bridgeline's management does not consider these Non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. 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 the Company's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expenses and income are excluded or included in determining these Non-GAAP financial measures. To compensate for these limitations, Bridgeline management presents Non-GAAP financial measures in connection with GAAP results. Bridgeline urges investors to review the reconciliation of its Non-GAAP financial measures to the comparable GAAP financial measures, which is included in this press release, and not to rely on any single financial measure to evaluate Bridgeline's financial performance. Our definitions of Non-GAAP Adjusted EBITDA and adjusted net income (loss) may differ from and therefore may not be comparable with similarly titled measures used by other companies, thereby limiting their usefulness as comparative measures. As a result of the limitations that Adjusted EBITDA and Non-GAAP adjusted net income (loss) have as an analytical tool, investors should not consider them in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Safe Harbor for Forward-Looking Statements Statement under the Private Securities Litigation Reform Act of 1995 All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These statements appear in a number of places and include statements regarding the intent, belief or current expectations of Bridgeline Digital, Inc. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions, including, but not limited to, business operations and the business of our customers, suppliers and partners; our ability to retain and upgrade current customers, increasing our recurring revenue, our ability to attract new customers, our revenue growth rate; our history of net loss and our ability to achieve or maintain profitability, instability in the financial markets, including the banking sector; our liability for any unauthorized access to our data or our users' content, including through privacy and data security breaches; any decline in demand for our platform or products; changes in the interoperability of our platform across devices, operating systems, and third party applications that we do not control; competition in our markets; our ability to respond to rapid technological changes, extend our platform, develop new features or products, or gain market acceptance for such new features or products, particularly in light of potential disruptions to the productivity of our employees resulting from remote work; our ability to manage our growth or plan for future growth, and our acquisition of other businesses and the potential of such acquisitions to require significant management attention, disrupt our business, or dilute stockholder value; the volatility of the market price of our common stock, the ability to maintain our listing on the NASDAQ Capital Market; or our ability to maintain an effective system of internal controls as well as other risks described in our filings with the Securities and Exchange Commission. Any of such risks could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Bridgeline Digital, Inc. assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by applicable law. About Bridgeline Digital Bridgeline is a marketing technology company that offers a suite of products that help companies grow online revenue by driving more traffic to their websites, converting more visitors to purchasers, and increasing average order value. To learn more, please visit www.bridgeline.com or call (800) 603-9936. Contact: Bridgeline Digital, Inc. Thomas R. Windhausen Chief Financial Officer twindhausen@bridgeline.com
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When Dr. Kemi Wijesundera moved into the new Telus Health family medicine clinic in downtown Toronto, he quickly found he had one less thing to worry about during consults. Each of the seven examination rooms in the modern new clinic, which Telus Health has opened under its “MyCare” brand, is equipped with “AI scribe” software that listens to appointments (with patients’ consent) and uses artificial intelligence to summarize the conversations in the standardized medical note form. Before the patient even gets out the door, the notes from their appointment, including their medical history, as well as any requisitions, prescriptions and special instructions from their doctor, are uploaded to their phone through the Telus MyCare app. “This is the future of health care,” says Wijesundera, a recent medical school grad and one of six family physicians at the new Telus Health MyCare Union clinic. Located in repurposed office space on York Street, just south of Union Station, the “digital first” clinic, which had a soft launch in late summer, is now fully operational. 516 k Estimated number of Torontonians without a family doctor 2.5 M Estimated number of Ontarians without a family doctor 6.5 M Estimated number of Canadians without a family doctor Source: Ontario College of Family Physicians, Ontario Community Health Profiles Partnership, OurCare Initiative Toronto Star graphic Located in repurposed office space on York Street, just south of Union Station, the “digital first” clinic, which had a soft launch in late summer, is now fully operational and facing a unique challenge: at a time when an estimated 516,000 Torontonians are looking for a family doctor, the physicians at the clinic are looking for patients — up to 6,000 of them. “It gives people who live in the Toronto area a new way to become attached to a family doctor within the public health-care system,” says Chris Engst, vice-president of consumer health for Telus Health, which opened its first two MyCare clinics in Victoria and Vancouver in 2020. The expansion is part of a broader, global trend that’s seeing private companies taking ownership stakes in the provision of medical services, an area many investors see as ripe with opportunity as wait-lists for family doctors and certain surgical procedures remain stubbornly high. Unlike its main telecom competitors, Rogers Communications and BCE, which have diversified into sports team and media ownership, Telus is staking a claim on health care. In 2022, it acquired digital-health provider LifeWorks , formerly Morneau Shepell, for $2.3 billion, as well as buying up a substantial share of the market for electronic medical record (EMR) software in Canada over the last decade. After these and other acquisitions, Telus says it now provides health-care services to some 76 million people in more than 160 countries. “It’s a regular family practice. The physicians are doing everything from preventative care, immunizations, chronic disease management, acute care, whatever the care needs are of their patients,” says Dr. Alissia Valentinis, a family doctor and medical director of the Toronto MyCare clinic. 1 M Estimated number of Torontonians who could be without a family doctor by 2026 4.4 M Estimated number of Ontarians who could be without a family doctor by 2026 Source: Ontario College of Family Physicians, INSPIRE-Primary Health Care Toronto Star graphic Dr. Alissia Valentinis, medical director of the Telus Health MyCare Union clinic, explains that the MyCare model is similar to other private clinics where doctors pay a percentage of their provincial billings to the company running the clinic to cover rent, staff and insurance. In this case, Telus Health manages the clinic while the physicians are independent contractors who are “100 per cent publicly funded.” “It’s a regular family practice. The physicians are doing everything from preventative care, immunizations, chronic disease management, acute care, whatever the care needs are of their patients,” says Valentinis. One thing the new Toronto MyCare clinic isn’t: a cramped and stuffy space in a lowrise office complex that some may associate with more traditional medical offices. A wall covered with plants about six metres long that stretches to the ceiling greets patients in the clinic’s waiting room on the second floor of Telus Harbour, a 30-storey, LEED Platinum office building next to Scotiabank Arena. Floor-to-ceiling windows that look down on York Street illuminate the seven, gleaming-white examination rooms that are equipped with two computer screens, one for virtual consultations and one for medical charting. One slightly larger examination room can accommodate minor procedures, such as the removal of lumps or bumps. A counselling room featuring cushioned seats offers a quiet space for doctors to have difficult conversations with patients, if necessary, or for breastfeeding moms to find some privacy. A team of clinical operations support staff assist physicians with administration, pharmacy inquiries, referrals and appointment bookings. “We’ve been using technology to try and think about, how do you deliver primary care in a unique way which helps to support the needs of patients and also helps to support the needs of the clinicians who work with us?” says Engst. A key pillar in this quest is the Telus Health MyCare app, a sort of all-in-one platform that not only holds MyCare patients’ electronic medical records, but also allows patients to book same-day or next-day appointments and see physicians at the Union clinic virtually or in-person. Despite the obvious value for patients in a city starved of family doctors like Toronto, the company’s expansion into the health-care space has not been without controversy. A few years ago, Telus Health opened but then closed the doors of a family medicine clinic in downtown Toronto, a move it said was a “strategic decision” to “re-evaluate and refine our approach to supporting health-care needs in Toronto.” “This period of reflection and analysis led to the development and launch of the Telus Health MyCare Union clinic,” the company said in an email. “This new model represents an evolution of our initial concept, incorporating lessons learned and aligning more closely with our goal of improving access to primary care for thousands of Toronto residents.” In late 2022, British Columbia’s Medical Services Commission, responsible for that province’s public health insurance system, went to court seeking an injunction against a separate Telus Health program, called LifePlus, that the government alleged charged patients thousands of dollars a year for care already covered publicly — an illegal practice under the B.C. Medicare Protection Act. In April 2023, the commission and Telus Health reached an agreement and clarified processes to better distinguish insured from uninsured services, the company said. It’s unclear how much, if any, profit Telus is making on the Toronto MyCare clinic, but Engst did say its physicians bill the provincial health system just like any other public health-care clinician, with a portion of those fees going to cover support staff and overhead. A less tangible benefit for the company could be a treasure trove of potentially valuable data. And that has not gone unnoticed by privacy and public health-care advocates, who question what the Vancouver-based company is doing with its now vast holdings of personal health information. “Telus owns most of the electronic medical record (EMR) software market in Canada, including the EMR that I use. All of my prescribing information is in my EMR. Where is the data going and are they monetizing it for secondary use?” says Danielle Martin, chair of the Department of Family and Community Medicine at the University of Toronto. Danielle Martin, chair of the Department of Family and Community Medicine at the University of Toronto, says that while the MyCare Union clinic “is what every doctor and every patient wants and deserves” when it comes to physicians being able to focus on being clinicians instead of running an office, she questions why a private company is stepping in to meet demand instead of the public health-care system. Engst says Telus Health, as both a technology and health-care company, “brings unique capabilities to improve health-care delivery and access.” “To be clear, the Telus Health MyCare Union clinic supports the public health-care system by providing access to publicly insured services,” he added. Martin notes that the province already funds models similar to the MyCare clinics through family health teams and community health centres, but these interprofessional teams — which include not only doctors, but also nurses, social workers, dietitians and pharmacists — only cover about 30 per cent of the population. “This is what creates a market for Telus, because doctors prefer to work in an environment like that and patients prefer to get care in an environment like that,” says Martin, who is also a family doctor. But she questions what Telus Health does with the patient data it retains. “Telus owns most of the electronic medical record (EMR) software market in Canada, including the EMR that I use. All of my prescribing information is in my EMR. Where is the data going and are they monetizing it for secondary use?” Martin says. In an email, Telus Health said it does not sell any data collected by its virtual-care platforms, including MyCare, and is “deeply committed” to the internationally recognized Privacy By Design principles. Privacy by Design, created by Ontario’s former privacy commissioner Ann Cavoukian, is a system based on seven principles intended to proactively embed privacy into information technology and business systems. “All data collected from our services are treated as personal health information and handled in accordance with the rigorous laws and best practices applicable to personal health information,” the company said. 19 Estimated number of hours per week family doctors spend on administrative work Source: Ontario Medical Association Toronto Star graphic Back at the MyCare Union clinic, Wijesundera says the technology deployed by Telus Health is what made working at the clinic attractive as a new medical grad who wants to spend more time seeing patients and less time doing paperwork. “This is potentially going to solve physician burnout,” he says. The Ontario Medical Association reports that family doctors spend about 19 hours per week on administrative tasks, such as writing notes or filling in patient forms. “I get more time to look at the patient, have a conversation and it’s not just me on the computer typing. It’s a nice interaction. The patients feel heard as well.”