Market Newsdesk

May 6, 2025 9:36 am

Transcat Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

Transcat Engages MZ Group to Lead Strategic Investor Relations and Shareholder Communications Program

ROCHESTER, N.Y.–(BUSINESS WIRE)–
Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of mission critical calibration services and distributor of test and measurement equipment to Fortune 500 Manufacturers, today announced it has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.

MZ Group will work closely with Transcat management to develop and implement a comprehensive Investor and Media Relations strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight Transcat’s market-leading position providing mission critical, accredited calibration services and equipment to a blue-chip client base, with the footprint and scale to support large national opportunities. Since 1964, clients served include a diverse set of industries in life sciences, aerospace and government/defense.

Transcat’s complementary business segments, combined with recent synergistic acquisitions, drove fiscal third quarter 2025 revenue of $66.8 million and full fiscal year 2024 growth of 13% to a record $259.5 million. High levels of recurring revenue streams in its Service segment have provided 63 consecutive quarters of revenue growth, and a gross margin of 34% in fiscal year 2024. Fiscal year 2024 Adjusted EBITDA of $38.6 million and net income of $13.6 million, up 28% from the prior year, further demonstrated the company’s differentiated value proposition. With $19.3 million in operating free cash flow, access to $40.5 million available under an existing credit facility and low leverage ratio of only 0.97, Transcat is well positioned to build on its growth and M&A initiatives.

MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts, and private investors and maintains offices worldwide. Chris Tyson, Executive Vice President & Partner at MZ North America, along with Directors Larry Holub and Brooks Hamilton, will advise Transcat’s investor relations team in all facets of investor relations, including, but not limited to, the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.

Chris Tyson commented: “The stringent regulatory standards for manufacturers imposed by entities including the FDA, FAA and Department of Defense to ensure product safety and environmental protection are driving the need for high-value calibration services. Growth from the increasing deployment of industrial automated systems and advanced manufacturing technologies demands more precise instrumentation and control, while medical device usage in diagnostics, treatment, and monitoring increases calibration service requirements. Additionally, high-precision instrumentation and strict safety protocols in aviation and defense necessitate frequent, exacting calibration. Across these industries, Markets and Markets estimates the global calibration services market size will grow to $8.1 billion by 2030. In the short term, required calibration provides recurring revenue and earnings visibility in an uncertain market. Longer term, domestic initiatives to bring manufacturing back to the US, most immediately the pharmaceutical industry, will provide additional growth opportunities. With this tremendous revenue potential, we look forward to sharing the Transcat story with our network of institutional investors, family offices and retail investors.”

“This is an exciting time for Transcat with recent acquisitions expanding our geographic footprint, capabilities, markets, revenue and margin,” said Lee D. Rudow, President and CEO of Transcat. “Namely, our recently acquired Martin Calibration business is increasing our Midwest service presence, which is rich in both life sciences and aerospace and defense manufacturing. This acquisition and pipeline of opportunities present compelling cross-sell synergies to drive revenue growth and margin into these acquired customer bases and our installed base. We look forward to working with Chris and the entire team at MZ Group to communicate our business milestones in the weeks and months ahead.”

For more information on Transcat, please visit www.transcat.com or the company’s blog at transcat.com/news. To schedule a conference call with management, please email your request to [email protected] or call Chris Tyson at 949-491-8235.

About MZ

MZ North America is the US division of MZ Group, a global leader in investor relations with over 250 employees and 800 clients across 12 different exchanges. For over 25 years, MZ has implemented award winning programs and developed a reputation for delivering tangible results for public and private companies via strategic communications, industry-leading investor outreach, public relations, a market intelligence desk, and a suite of technology solutions, spanning websites, conference call/webcasting, video production and XBRL/Edgar filing services. MZ maintains a global footprint with professionals located throughout every time zone in North America, as well as Taipei and São Paulo. For more information, please visit www.mzgroup.us.

About Transcat

Transcat Inc. is a leading provider of accredited calibration, reliability, maintenance optimization, quality and compliance, validation, Computerized Maintenance Management System (CMMS), and pipette services. The Company is focused on providing best-in-class services and products to highly regulated industries, particularly the Life Science industry, which includes pharmaceutical, biotechnology, medical device, and other FDA-regulated businesses, as well as aerospace and defense, and energy and utilities. Transcat provides periodic on-site services, mobile calibration services, pickup and delivery, in-house services at its 33 Calibration Service Centers strategically located across the United States, Puerto Rico, Canada, and Ireland. Inclusive of customer embedded locations and other field offices, we operate out of more than 50 locations. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be the best in the industry.

Transcat also operates as a leading value-added distributor that markets, sells and rents new and used national and proprietary brand instruments to customers primarily in North America. The Company believes its combined Service and Distribution segment offerings, experience, technical expertise, and integrity create a unique and compelling value proposition for its customers.

Transcat’s strategy is to leverage its strong brand and unique value proposition that includes its comprehensive instrument service capabilities, enterprise asset management, and leading distribution platform to drive organic sales growth. The Company will also look to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model. More information about Transcat can be found at: Transcat.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact and thus are subject to risks, uncertainties and assumptions. Forward-looking statements relate to expectations, estimates, beliefs, assumptions and predictions of future events and are identified by words such as “aim,” “anticipates,” “believes,” “can,” “could,” “designed,” “estimates,” “expects,” “focus,” “goal,” “intends,” “may,” “plan,” “outlook,” “potential,” “seek,” “strategy,” “strive,” “target,” “will,” “would,” and other similar words. All statements addressing operating performance, events or developments that Transcat expects or anticipates will occur in the future, including but not limited to statements relating to anticipated revenue, profit margins, the commercialization of software projects, sales operations, capital expenditures, cash flows, operating income, growth strategy, segment growth, potential acquisitions, integration of acquired businesses, market position, customer preferences, outlook and changes in market conditions in the industries in which Transcat operates are forward-looking statements. Forward-looking statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include those more fully described in Transcat’s Annual Report and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company disclaims any obligation to update, correct or publicly announce any revisions to any of the forward-looking statements contained in this news release, whether as the result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250506798019/en/

Investor Relations

Chris Tyson

Executive Vice President

MZ Group – MZ North America

949-491-8235

[email protected]

www.mzgroup.us

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Other Defense Pharmaceutical Utilities Energy Medical Devices Defense Public Relations/Investor Relations Biotechnology Communications Aerospace Manufacturing Health

MEDIA:

May 6, 2025 9:35 am

IceCure Receives High Level of Interest from Breast Surgeons at ASBrS 2025 Annual Meeting Following Recent Positive FDA Development on ProSense® Cryoablation

PR Newswire

Breast surgeons expressed strong interest in participating in IceCure’s planned post-market study for ProSense® in the treatment of early-stage breast cancer
ICE3 study named as one of the “Best Papers of 2024”
Cryoablation was mentioned favorably during the ASBrS Presidential Address

CAESAREA, Israel
, May 6, 2025 /PRNewswire/ — IceCure Medical Ltd. (Nasdaq: ICCM) (“IceCure”, “IceCure Medical” or the “Company”), developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal, today announced it participated in the American Society of Breast Surgeons (ASBrS) 2025 Annual Meeting on April 30 – May 4, 2025 in Las Vegas.

“We couldn’t be more pleased with the high level of interest in ProSense® at the ASBrS 2025 Annual Meeting and the reaction of breast surgeons to the recent positive U.S. Food and Drug Administration (“FDA”) development regarding our cryoablation system’s pathway to marketing authorization,” stated Eyal Shamir, IceCure’s Chief Executive Officer. “A large number of doctors approached our booth, asking how they could participate in our planned post-market study and how they could offer ProSense® to their patients following marketing authorization. We were fortunate that cryoablation for breast cancer was included in prominent presentations by thought leaders, including in the Presidential Address and the Best Papers of 2024 review, putting a spotlight on our technology which we believe can offer greater choice to women with early-stage breast cancer.”

The Company’s participation included:

Exhibiting its ProSense® cryoablation system at its booth and providing hands-on demonstrations;
Sponsoring and participating in the pre-conference ultrasound course where hands-on ProSense® training was provided; and
Hosting an Expert Booth meeting titled “The Future of Cryoablation in Breast Cancer: A Focus on the Patient Journey” with featured speaker Dr. Nathalie Johnson, former ASBrS President, and guest speaker Dr. Richard Fine, ICE3 Investigator

During the ASBrS Presidential Address, cryoablation was positively mentioned and the importance of breast surgeons needing to have the skills to provide all therapeutic procedures for their patients was underscored—including minimally invasive and percutaneous procedures, such as cryoablation. The address specifically mentioned the ICE3 study and stated that the ASBrS awaits a final decision from the FDA for breast cancer cryoablation.

Additionally, the ICE3 study was included in the Best Papers of 2024 review where a summary of the data was presented, and it was noted that cryoablation is a technique that should be “in the hands of” breast surgeons.

On April 30, 2025, IceCure announced it concluded a meeting with the FDA’s Center for Devices and Radiological Health regarding the Company’s De Novo marketing authorization request for ProSense® in the treatment of early-stage low risk breast cancer when combined with adjuvant endocrine therapy for women aged 70 and over. During the meeting, the FDA requested that IceCure conduct a study after marketing authorization has been granted, with the aim of producing additional data in this indication. IceCure will present its post-market study plan, which is expected to include a minimum of 400 patients at 25 sites, to the FDA, and upon the approval of such plan, the FDA’s final marketing authorization decision is expected.

About ProSense®

The ProSense® Cryoablation System is a minimally invasive cryosurgical tool that provides the option to destroy tumors by freezing them. The system uniquely harnesses the power of liquid nitrogen to create large lethal zones for maximum efficacy in tumor destruction in benign and cancerous lesions, including breast, kidney, lung, and liver.

ProSense® enhances patient and provider value by accelerating recovery, reducing pain, surgical risks, and complications. With its easy, transportable design and liquid nitrogen utilization, ProSense® opens that door to fast and convenient office-based procedures for breast tumors.

About IceCure Medical

IceCure Medical (Nasdaq: ICCM) develops and markets advanced liquid-nitrogen-based cryoablation therapy systems for the destruction of tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone and lung cancer. Its minimally invasive technology is a safe and effective alternative to hospital surgical tumor removal that is easily performed in a relatively short procedure. The Company’s flagship ProSense® system is marketed and sold worldwide for the indications cleared and approved to date including in the U.S., Europe and Asia.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, IceCure is using forward looking statements in this press release when it discusses: the prospective participation of doctors in the planned post-market study; the Company’s belief that its technology can offer greater choice to women with early-stage breast cancer; the prospective final decision from the FDA for marketing authorization for ProSense in the treatment of early-stage low risk breast cancer when combined with adjuvant endocrine therapy for women aged 70 and over; and the Company’s prospective post-market study plan presentation. Historical results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company’s planned level of revenues and capital expenditures; the Company’s available cash and its ability to obtain additional funding; the Company’s ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company’s ability to maintain its relationships with suppliers, distributors and other partners; the Company’s ability to maintain or protect the validity of its patents and other intellectual property; the Company’s ability to expose and educate medical professionals about its products; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024 filed with the SEC on March 27, 2025, and other documents filed with or furnished to the SEC which are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

IR Contact:

Email: [email protected]
Michael Polyviou
Phone: 732-232-6914
Todd Kehrli
Phone: 310-625-4462

Logo: https://mma.prnewswire.com/media/2319310/IceCure_Medical_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/icecure-receives-high-level-of-interest-from-breast-surgeons-at-asbrs-2025-annual-meeting-following-recent-positive-fda-development-on-prosense-cryoablation-302447085.html

SOURCE IceCure Medical

May 6, 2025 9:33 am

Contango Announces S-K 1300 Technical Report Summary with Robust Economics and One Year Payback for its Johnson Tract Project

PR Newswire

FAIRBANKS, AK
, May 6, 2025 /PRNewswire/ – Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) is pleased to announce that it has completed the Technical Report Summary (“TRS”) on the Johnson Tract Project (the “Project” or “Johnson Tract”), located in Alaska, U.S.A. The TRS summarizes the results of an Initial Assessment (“IA”) of the potential viability for a seven-year life of mine (“LOM”), underground mining operation, utilizing the same direct ship ore (“DSO”) approach as the highly successful Manh Choh mine.

Rick Van Nieuwenhuyse, the Company’s President and Chief Executive Officer said: “We are very pleased to release the results of our Initial Assessment for our Johnson Tract Project. Assuming a price of $2,200 per ounce of gold as the “Base Case”, the Project generates a Post-Tax NPV₅ of $225 million and IRR of 30% with a one-year payback from commencement of commercial production. Assuming a price of $3,000 per ounce of gold price demonstrates an NPV₅ of approximately $400 million and IRR of 45% with less than a year payback from commencement of production. Initial capital costs are estimated at a modest $214 million with an all-in-sustaining cost (“AISC”)¹ of $860 per gold equivalent ounce (“GEO”) sold at an average GEO ore grade estimated at 7.58 grams per tonne (“g/t”). Based on current resources, it is estimated that Johnson Tract will produce an annual average of 102,258 GEO and that 90,692 GEO will be recovered after processing and refining over the seven-year operating life (following the Initial Capital/Pre-Production phase). Once we get underground, we believe that drilling will define additional resources that will extend the current LOM.

We look forward to investigating potential upsides to improve the economics and extend the mine life, which includes additional underground drilling to expand the resource to extend the known orebody down dip and along strike. Another upside that we plan to evaluate is the use of ore sorting to upgrade run of mine ore grades at site by using sensor-based sorters (for example: Optical, XRT, Laser, X-Ray) to separate waste material from higher grade ore. This would result in two improvements – fewer tonnes to transport and higher head grade feed to the mill, resulting in improved economics.

We are currently focused on permitting the underground tunnel to access the million-ounce resource and conduct a detailed underground in-fill drill program. We will also conduct metallurgical, geotechnical and hydrology studies necessary to complete a feasibility study, which will include a detailed mining and transportation plan, as well as select a specific site for processing the ore along with any modifications necessary. In addition, we will need to conduct detailed environmental baseline work along the Road and Port Easements that have already been granted to Cook Inlet Regional Inc. (“CIRI”) by the Federal government earlier this year. We expect the permitting for the proposed tunnel and adjacent laydown site with the State of Alaska will take one year.

Part of Contango’s management team just spent a week in Washington D.C. for the “Alaska on the Hill” event. We began the week meeting with CIRI, our Alaska Native Corporation partner. We had great meetings with the heads of various federal agencies that will be involved with permitting the CIRI Road and Port Easements, along with constructive meetings with our two Senators, Murkowski and Sullivan, and our Congressman, Nick Begich. We were very impressed with the overwhelming support for permitting projects in Alaska, along with the recognition of the importance of developing a domestic source of critical metals. It was noted in such meetings that the Johnson Tract project is the only critical metals mining project in Alaska that is ready for permitting and may be selected when appropriate for FAST-41 priority permitting under the newly created National Energy Dominance Council (“NEDC”) and Permitting Council under the direction of the President’s Executive Order, “Immediate Measures to Increase American Mineral Production”, issued on March 20, 2025. We look forward to working with the Trump Administration and our Congressional delegation to develop the Johnson Tract project and help secure American supply chain of four critical metals.”

____________________________

¹ AISC includes all direct and indirect operating cash costs related directly to the physical activities of producing gold, copper, zinc, lead and silver including mining, processing and other plant costs, third-party refining expense, on-site general and administrative costs, sustaining capital and reclamation costs. Excluded from AISC are initial capital costs in the amount of $213.6 million (pre-production costs), as well as royalty and mining production taxes.

IA HIGHLIGHTS:

Pre-Tax net present value discounted at 5% (“NPV₅“) of USD $359.0 million
Pre-Tax Internal Rate of Return (“IRR”) of 37.4%
Post-Tax NPV₅ of USD $224.5 million with a post-tax IRR of 30.2%
7-year LOM
LOM annual average production of 102,258 GEO at 7.58 g/t
Initial Capital costs of $213.6 million, including $36 million for contingency costs
Sustaining Capital costs of USD $61.3 million, including $12.3 million for contingency costs
AISC estimated at $860 per GEO sold
Discounted payback period of 1.3 years

BACKGROUND:

As a U.S. domestic and domiciled company, Contango is required to report its mineral resources in accordance with Subpart 1300 of Regulation S-K (“S-K 1300”).
S-K 1300 was adopted by the Securities and Exchange Commission (the “SEC”) to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements for mineral properties with current industry and global regulatory standards.
The mineral resource estimate set forth in this TRS for the Johnson Tract Project has not previously been reported under the S-K 1300 format. The TRS was prepared in accordance with S-K 1300 and will be filed on or before May 12, 2025 with the SEC through EDGAR on Form 8-K.

IA SUMMARY

The IA is preliminary in nature and includes Indicated and Inferred resources that are considered too speculative to apply the economic considerations that would enable them to be categorized as mineral reserves. There is no certainty the estimates presented in the IA will be realized. This economic analysis is based on a Resource Estimate for the deposit listed in Table 3.

TABLE 1:
KEY ECONOMIC PARAMETERS (Base Case – $2,200 Gold Price)

ITEM	Description	Unit	Value
Finance
	NPV (Pre-Tax)	US$ (m)	359.0
	IRR (Pre-Tax)	%	37.4 %
	NPV (Post-Tax)	US$ (m)	224.5
	IRR (Post-Tax)	%	30.2 %
	Non-Discounted Payback Period	yr	1.1
	Discounted Payback Period	yr	1.3
Economics Summary
	Revenue (NSR less Royalties)	US$ (m)	1,296.7
	Operating Costs	US$ (m)	484.8
	Initial Capital Costs	US$ (m)	213.6
	Sustaining Capital Costs	US$ (m)	61.3
	Payable Metal Value
	Copper	US$ (m)	120.2
	Zinc	US$ (m)	274.2
	Lead	US$ (m)	36.6
	Gold	US$ (m)	1,014.0
	Silver	US$ (m)	5.1
Initial Capital
	Project Team	US$ (m)	5.0
	Development – Lateral + Ramp	US$ (m)	19.5
	Development – Vertical	US$ (m)	0.6
	Mobile Equipment	US$ (m)	18.9
	Surface Infrastructure	US$ (m)	91.5
	Underground Infrastructure	US$ (m)	13.3
	Capitalized Operating	US$ (m)	28.8
	Contingency	US$ (m)	36.0
	Initial Capital Total	US$ (m)	213.6
Sustaining Capital
	Project Team	US$ (m)	0.0
	Development – Lateral + Ramp	US$ (m)	8.9
	Development – Vertical	US$ (m)	0.4
	Mobile Equipment	US$ (m)	2.5
	Surface Infrastructure	US$ (m)	1.2
	Underground Infrastructure	US$ (m)	6.0
	Closure	US$ (m)	30.0
	Capitalized Operating	US$ (m)	0.0
	Contingency	US$ (m)	12.3
	Sustaining Capital Total	US$ (m)	61.3
Operating
	Mining	US$ (m)	213.4
	Mill	US$ (m)	102.9
	Transport to Dock	US$ (m)	11.6
	Surface Transportation (Barge)	US$ (m)	85.0
	Surface Transportation (Truck to Mill)	US$ (m)	18.8
	G&A	US$ (m)	53.1
	Operating Total	US$ (m)	484.8
Ore Production
	Ore Milled	mt	2.7
	Payable Metal
	Copper	mlb	32.2
	Zinc	mlb	279.3
	Lead	mlb	41.8
	Gold	moz	0.5
	Silver	moz	0.5

Metrics
	Mine Cost per Tonne Feed	US$/tonne	85.97
	Cash Cost per Tonne Feed	US$/tonne	191.25
	All–In-Sustaining Costs²	US$/ GEO	860.00
	Average Annual GEO Produced	Au Eq Oz / Yr	102,258
	Average Annual GEO Payable	Au Eq Oz / Yr	90,692
Mining Method
	LHOS Mining Cost per Tonne Feed	US$/tonne	85.24
	C&F Mining Cost per Tonne Feed	US$/tonne	90.89

____________________________

2 AISC includes all direct and indirect operating cash costs related directly to the physical activities of producing gold, copper, zinc, lead and silver including mining, processing and other plant costs, third-party refining expense, on-site general and administrative costs, sustaining capital and reclamation costs. Excluded from AISC are initial capital costs in the amount of $213.6 million (pre-production costs), as well as royalty and mining production taxes.

TABLE 2:
GOLD PRICE SENSITIVITY ANALYSIS

Sensitivity	$2,000 Au	$2,200 Au	$3,000 Au	$4,000 Au
Post-Tax NPV₅ (US$ m)	$181.0	$224.5	$398.2	$615.4

TABLE 3: RESOURCE ESTIMATE

Category	Tonnes (000s)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	AuEq (g/t)
Indicated	3,489	5.33	6.0	0.56	0.67	5.21	9.39
Inferred	706	1.36	9.1	0.59	0.30	4.18	4.76
Contained Metal
Category		Au (K oz)	Ag (K oz)	Cu (M lb)	Pb (M lb)	Zn (M lb)	AuEq (K oz)
Indicated		598	673	43.1	51.5	400.8	1,053
Inferred		31	207	9.2	4.7	65.1	108

Notes
1.	Includes all drill holes completed at Johnson Tract Deposit, with drilling completed between 1982 and most recently as October 2021
2.	Assumed metal prices are US$1650/oz for gold (Au), US$20/oz for silver (Ag), US$3.50/lb copper (Cu), US$1/lb lead (Pb), and US$1.50/lb for zinc (Zn). Metal prices were established considering the review of three-year averages of published monthly values.
3.	Gold Equivalent (AuEq) is based on assumed metal prices and payable metal recoveries of 97% for Au, 85% for Ag, 85% Cu, 72% Pb and 92% Zn from metallurgical testwork completed in 2022.
4.	AuEq equals = Au g/t + Ag g/t × 0.01 + Cu% × 1.27 + Pb% × 0.31 + Zn% × 0.59
5.	An average bulk density value of 2.84 used as determined by conventional analytical methods for assay samples
6.	Capping applied to assays to restrict the impact of high-grade outliers
7.	Preliminary underground constraints were applied, including the elimination of isolated or scattered blocks above cut-off grade to define the “reasonable prospects of eventual economic extraction” for the Mineral Resource Estimate
8.	Mineral resources as reported are undiluted
9.	Mineral resource tonnages have been rounded to reflect the precision of the estimate
10.	Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability

QUALIFIED PERSON DISCLOSURE:

This report dated May 6, 2025 was prepared as an Initial Assessment Technical Report Summary, in accordance with the Securities and Exchange Commission (SEC) S-K regulations (Title 17, Part 229, Item 601 and Subpart 1300 until 1305) for Contango by SRK Consulting (Canada) Inc. (SRK) on the Johnson Tract Polymetallic (Gold, Zinc, Copper, Silver, Lead) Project (the Project). Additional Qualified Persons were engaged by Contango to complete the Initial Assessment Technical Report as SRK is not the sole owner of the work and study. The TRS was prepared in accordance with S-K 1300 and will be filed on or before May 12, 2025 with the SEC through EDGAR on Form 8-K.

In accordance with the SEC S-K regulations, SRK Consulting (Canada) Inc. has authored Sections 13 (Mining Methods), 15 (Infrastructure), 17 (Environmental Studies, Permitting, and Plans, Negotiations, or Agreements with Local Individuals or Groups), 18 (Capital and Operating Costs), and 19 (Economic Analysis), as well as relevant content in Sections 1 (Executive Summary), 22 (Interpretations and Conclusions), and 23 (Recommendations) of the TRS report as a Qualified Person under Item 1302 of Regulation S-K, and has reviewed the inclusion of its summary of the report in this news release.

In accordance with the SEC S-K regulations, James Gray, P.Geo, Advantage Geoservices has authored Section 11 (Mineral Resource Estimates) of the TRS report as the Qualified Person under item 1302 of Regulation S-K, and has reviewed the inclusion of its summary of the report in this news release. International Metallurgical and Environmental, Inc. has authored Section 10 (Mineral Processing and Metallurgical Testing) of the TRS report as the Qualified Person under item 1302 of Regulation S-K, and has reviewed the inclusions of its summary of the report in this news release.

CONFERENCE CALL AND WEBCAST

Contango will host a conference call and webcast to discuss this release on May 8, 2025, at 1pm EST / 10am PST. Participants may join the webcast using the following call-in details: Contango Announces S-K 1300 Technical Report Summary with Robust Economics

ABOUT CONTANGO

Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in the Peak Gold JV, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, operator of the Peak Gold JV. The Company and its subsidiaries also have (i) a lease on the Johnson Tract project from the underlying owner, CIRI Native Corporation, (ii) a lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc., (iii) 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims, and (iv) a 100% interest in approximately 145,000 acres of State of Alaska mining claims that give Contango the exclusive right to explore and develop minerals on these lands. Additional information can be found on our web page at www.contangoore.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding Contango that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, based on Contango’s current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as “expects”, “projects”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, “probable”, or “intends”, or stating that certain actions, events or results “may”, “will”, “should”, or “could” be taken, occur or be achieved). Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to: the risks of the exploration and the mining industry (for example, operational risks in exploring for and developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and associated minerals; the existence and extent of commercially exploitable minerals in properties acquired by Contango or the Peak Gold JV; ability to realize the anticipated benefits of the Peak Gold JV; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; Contango’s inability to retain or maintain its relative ownership interest in the Peak Gold JV; inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; the extent of disruptions caused by an outbreak of disease, such as the COVID-19 pandemic; and the possibility that government policies may change, political developments may occur or governmental approvals may be delayed or withheld, including as a result of presidential and congressional elections in the U.S. or the inability to obtain mining permits. Additional information on these and other factors which could affect Contango’s exploration program or financial results are included in Contango’s other reports on file with the U.S. Securities and Exchange Commission. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Contango does not assume any obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.

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SOURCE Contango Ore

May 6, 2025 9:31 am

The Home Depot Foundation invests more than $5.5 million to strengthen disaster preparedness, response and rebuilding efforts

PR Newswire

Funding supports preparation for upcoming disasters and rebuilding after years of multiple billion-dollar events

ATLANTA
, May 6, 2025 /PRNewswire/ — This National Hurricane Preparedness Week, The Home Depot Foundation committed to invest more than $5.5 million to support nonprofit organizations as they help communities prepare for, respond to and recover from natural disasters. This funding, in addition to the $3 million committed earlier this year for wildfire response in Southern California, brings the Foundation’s support to $8.5 million so far for the 2025 disaster season.

“In 2024, our country experienced more than 27 natural disasters that incurred at least $1 billion each in losses,” said Erin Izen, executive director of The Home Depot Foundation. “It’s important that we not only work with our partners to provide relief in the immediate aftermath of a disaster, but also to help these communities prepare before a storm hits by making them more disaster-resistant.”

As the country continues to feel the impacts of hurricanes, tornadoes, wildfires and flooding, the Foundation is supporting several of its nonprofit partners as they prepare communities for future disasters. This includes working with Mercy Corps to equip “resilience hubs” and community centers in Puerto Rico and the U.S. Virgin Islands with critical emergency response items, while also supporting Inspiritus as it delivers specialized training to expand its volunteer pool and capabilities. Operation Blessing, a long-standing disaster relief partner that was critical to the Foundation’s response in Asheville following Hurricane Helene, will use its grant to pilot a new First Responder and Kid Care Kit initiative in preparation for future disasters.

“During recent disaster response operations in Texas and the Los Angeles area, our teams would develop first responder kits while on-site. Our aim for this pilot program is to have them prepped and ready for future events. The ‘Kid Care Kits’ will include coloring books and snacks as well as a stuffed animal to help provide comfort to children who have faced the trauma of witnessing a natural disaster,” said Diego Traverso, senior director of global disaster response for Operation Blessing. “With this renewed support from The Home Depot Foundation, we’re able to get ahead of what’s needed when we’re in the field, freeing up our teams to help with clean-up, provide hot meals and deliver other core relief services.”

While preparedness is a crucial component of disaster response, many of the Foundation’s partners will also focus on long-term recovery efforts for communities still rebuilding after damage sustained from past disasters. For example, nonprofit partner Rebuilding Together New Orleans will use its grant to fund repairs for at least 20 houses impacted by Hurricane Ian, helping families to live safely in their homes. Habitat for Humanity of Butte County will support long-term fire recovery and mitigation efforts in Northern California, and in addition to serving at least 800 communities in the aftermath of a disaster, Team Rubicon and the Foundation will partner to provide skilled trades training to 9,000 more volunteers and rebuild 20 homes destroyed by previous storms.

Additional funds from these grants will support ongoing disaster response and long-term rebuilding efforts with American Red Cross, Convoy of Hope, Community Foundation Santa Cruz County, World Central Kitchen and Habitat for Humanity International, including pre-positioning supplies, purchasing bulk food and delivering shelter as well as financial and emotional support for families impacted by natural disasters.

About The Home Depot Foundation

The Home Depot Foundation
, a nonprofit supported by The Home Depot (NYSE: HD), works to improve the homes and lives of U.S. veterans, support communities impacted by natural disasters and train skilled tradespeople to fill the labor gap. Since 2011, the Foundation has invested more than $550 million in veteran causes and improved more than 65,000 veteran homes and facilities. The Foundation has pledged to invest $750 million in veteran causes by 2030 and $50 million in training the next generation of skilled tradespeople through the Path to Pro program by 2028. To learn more about The Home Depot Foundation visit HomeDepotFoundation.org and follow us on Twitter @HomeDepotFound and on Facebook and Instagram @HomeDepotFoundation.

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SOURCE The Home Depot Foundation

May 6, 2025 9:30 am

Calling All Golf Fans: Score Behind-the-Scenes Access and $10,000 with New Wyndham Championship Gig

PR Newswire

The search is on for the first Wyndham Rewards Fairway Fellow, giving one golf lover the chance to work alongside the tournament director of a PGA TOUR official event —plus exclusive perks, access and more

PARSIPPANY, N.J.
, May 6, 2025 /PRNewswire/ — Most jobs come with a desk—this one comes with a fairway. Cue the echo of a perfect tee shot: Wyndham Rewards, proud title sponsor of the upcoming 86^th Wyndham Championship, is offering one golf-loving go-getter the chance to step inside the ropes as the tournament director’s right hand (wo)man for the day. In exchange for a job well done, the gig comes with $10,000 cash, insider access, pro-level perks—and an experience that plays well beyond the final round.

This coveted job isn’t just about folding polos or fetching Arnold Palmers. We’re talking clipboard in hand, headset on, assisting the conductor who makes the Sedgefield Country Club magic happen. Alongside their operational role, the first-ever Wyndham Rewards Fairway Fellow will also contribute and assist with content creation on tournament social media channels. In exchange, they’ll receive a $10,000 pay day, plus other perks including an upgrade to Wyndham Rewards Diamond membership, $500 Pro Shop shopping-spree, all-expenses-paid travel and hotel accommodations and VIP hospitality suite privileges throughout the week, including access to Club Wyndham Beach.

“Wyndham Rewards makes experiences more rewarding—whether that’s on a dream vacation or on the course at the Wyndham Championship. Our Fairway Fellow will have a once-in-a-lifetime opportunity to work behind the scenes of a major PGA TOUR event and, in turn, walk away with access, upgrades and an unforgettable experience that only the No. 1 hotel rewards program can deliver.”

– Michael Shiwdin, GVP, Guest Engagement, Loyalty & Partnerships, Wyndham Hotels & Resorts

“Year-in, year-out, the Wyndham Championship is known for being one of the most fan-friendly stops on the PGA TOUR. This year, with the help of Wyndham Rewards, we’re taking that to the next level, giving one lucky fan the chance to go inside the ropes while experiencing the best our tournament has to offer.”

– Bobby Powell, Wyndham Championship Tournament Director

The Ultimate Golf Gig

From pre-dawn planning huddles to last-minute media opportunities, the Fairway Fellow should be prepared to thrive under pressure (and in polos). From walking the grounds with the tournament crew to assisting with day-of logistics and content creation, they’ll gain exclusive access to players, caddies, press conferences and more. Plus, after the final putt drops and the celebration begins, they’ll be in the heart of the action, scoring a photo op with the newly-crowned champ.

Responsibilities:

Travel and attend the 2025 Wyndham Championship in Greensboro, N.C. (July 30 – August 4).
For one single day, step into the action, assisting the tournament director as the game unfolds.
Help ideate and create content for the tournament’s social platforms.
Represent Wyndham Rewards like a pro.

The Perks:

$10,000 cash payday.
VIP tickets to the Wyndham Championship + exclusive hospitality privileges for you and one guest.
Paid round-trip airfare, ground transportation, five (5) nights of hotel accommodations, and a daily meal stipend for you and one guest.
$500 gift card to the Wyndham Championship Pro Shop.
Wyndham Rewards^® Diamond level membership.

The Qualifications:

18 years or older.
Legal resident of the 50 United States, the District of Columbia, Puerto Rico, or Guam.
Valid passport and/or federal or state-issued ID.
Avid golf fan.

How to Apply:
Visit WyndhamRewards.com/Fellow by June 3, 2025, to submit:

Full name, phone number, email address and place of residence.
One short written essay OR video detailing your passion for golf and why you are the ideal candidate for this once-in-a-lifetime opportunity.

Wyndham Rewards will select the winning candidate on or around June 15, 2025. No purchase is necessary to enter. For official rules visit WyndhamRewards.com/Fellow.

About Wyndham Rewards
Proud title sponsor of the Wyndham Championship, Wyndham Rewards^® is the blue thread tying together some of the world’s largest and most well-known travel companies and brands: Wyndham Hotels & Resorts, the world’s largest hotel franchising company and Club Wyndham^®, the flagship vacation ownership brand of Travel + Leisure Co. Recognized as the #1 hotel rewards program by both U.S. News and World Report and USA Today, members—approximately 115 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous or offers more places to stay. Join for free at WyndhamRewards.com.

About the Wyndham Championship

Contested annually on the Donald Ross-designed golf course at Sedgefield Country Club in Greensboro, N.C., the Wyndham Championship was founded in 1938 and is the seventh-oldest event on the PGA TOUR, excluding the Majors. As the last tournament of the regular season, it sets the 70-player field for the FedExCup Playoffs. The tournament thanks title sponsor Wyndham Rewards and presenting sponsor Truist for their continued support. Additional tournament information is available at
WyndhamChampionship.com
and the tournament’s social media channels (@WyndhamChamp) on
Facebook
,
X
,
Instagram
and
LinkedIn.

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SOURCE Wyndham Hotels & Resorts

May 6, 2025 9:28 am

Baird Medical to Participate in the AAES 2025 Annual Meeting

PR Newswire

NEW YORK
, May 6, 2025 /PRNewswire/ — Baird Medical Investment Holdings Ltd. (NASDAQ: BDMD) (“Baird Medical” or the “Company”), a global leader in minimally invasive Microwave Ablation (MWA) technology, is pleased to announce its participation in the 45th Annual Meeting of the American Association of Endocrine Surgeons (AAES), taking place May 17-19, 2025, at the Baird Center in Milwaukee, Wisconsin.

The AAES Annual Meeting is widely regarded as the premier gathering of endocrine surgeons in North America, convening leading experts, clinicians, researchers, and trainees in the field. The conference is dedicated to advancing the science and practice of endocrine surgery through the presentation of cutting-edge research, expert panels, and collaborative discussions focused on thyroid diseases, parathyroid, adrenal glands, and endocrine pancreas.

Baird Medical’s presence at the AAES 2025 meeting highlights the growing significance of its MWA technology in the evolving landscape of minimally invasive treatment options for endocrine conditions, particularly thyroid nodules. The participation provides an excellent opportunity for the Company to engage with key opinion leaders in endocrine surgery, share clinical updates on its MWA systems, and contribute to discussions on innovative patient care strategies.

The Company views the AAES Annual Meeting as a crucial opportunity to gain firsthand insights into cutting-edge surgical advancements and evolving clinical trends in endocrine care. This engagement supports Baird Medical’s strategic initiatives, fosters valuable collaborations, and reinforces its commitment to developing effective, minimally invasive treatment solutions for patients with endocrine disorders.

Baird Medical remains committed to supporting the endocrine surgery community and advancing patient care through technological innovation. The Company looks forward to collaborating with AAES members and contributing to the scientific exchange at the 2025 meeting in Milwaukee.

About Baird Medical

Baird Medical is a forward-thinking medical device company specializing in minimally invasive diagnostics and treatment. It is dedicated to the research and development of surgical robotic systems and innovative minimally invasive surgical instruments. Our mission is to enhance patient outcomes through precision technology and advanced diagnostic solutions. The company will foster strategic collaborations with leading academic institutions. Our vision extends beyond surgical assistance, aiming to develop intelligent systems that proactively guide diagnostic decisions and preventive healthcare strategies. As an FDA 510(k)-certified medical device company, Baird Medical’s solutions have been used in over 30 prestigious hospitals and clinics across the United States, including Johns Hopkins Hospital, Tulane Medical Center, Weill Cornell Medicine, and Columbia University Medical Center. Baird Medical is also the market leader in China in thyroid microwave ablation devices and consumables. Meanwhile, the company’s minimally invasive treatment products are gradually expanding their commercial presence in over 20 countries worldwide.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Baird Medical’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “could”, “should”, “expect”, “intend”, “might”, “will”, “estimate”, “anticipate”, “believe”, “budget”, “forecast”, “intend”, “plan”, “potential”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Baird Medical and its management, are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Baird Medical does not undertake any duty to update these forward-looking statements.

Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) the risk that Baird Medical may not be successful in expanding its business in China or the United States; (2) changes in general economic conditions; (3) regulatory conditions and developments; (4) changes in applicable laws or regulations; (5) the nature, cost and outcome of pending and future litigation and other legal proceedings instituted against Baird Medical or others; and (5) other risks and uncertainties from time to time described in the Registration Statement relating to the Business Combination and the transition report, including those listed under the sections titled “Risk Factors” therein, and in ExcelFin’s other filings with the SEC.

The foregoing list of factors is not exclusive. Additional information concerning certain of these and other risk factors is contained in ExcelFin’s most recent filings with the SEC and in the Registration Statement described above filed by Baird Medical in connection with its business combination with ExcelFin. All subsequent written and oral forward-looking statements concerning Baird Medical, the business combination described herein or other matters attributable to Baird Medical or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Baird Medical expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact:
Eric Huang, PR Liaison
Baird Medical Investment Holdings Ltd.
Phone: +1 (888) 508-6228
Email: [email protected]

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SOURCE BDMD

May 6, 2025 9:26 am

Neurocrine Biosciences and Carnie Wilson Team Up to Launch ConnectING with Carnie™ Awareness Campaign for People with Tardive Dyskinesia

PR Newswire

New multimedia awareness campaign empowers people living with tardive dyskinesia to stand up to stigma and speak openly with their healthcare provider about symptoms and treatment

SAN DIEGO
, May 6, 2025 /PRNewswire/ — Neurocrine Biosciences, Inc. (Nasdaq: NBIX) today announced the launch of ConnectING with Carnie™, a multimedia awareness campaign in partnership with Grammy-nominated singer-songwriter and mental health advocate, Carnie Wilson. The campaign aims to support people struggling with the uncontrolled movements of tardive dyskinesia, an involuntary movement disorder associated with the use of antipsychotic medications, by sharing stories of courage and resilience in seeking diagnosis and treatment.

ConnectING with Carnie raises awareness of tardive dyskinesia (TD) and encourages individuals to stand up to stigma, speak openly about their symptoms without fear or embarrassment and seek diagnosis and treatment. Driven by her personal and family experiences with mental health challenges, Carnie is using her voice to empower those impacted by mental illness and TD to take action. Through the campaign, she’s connecting with individuals and care partners who share their lived experiences with mental illness and TD. This includes discussions about INGREZZA^® (valbenazine) capsules for the treatment of TD in adults.¹The ultimate aim is to encourage people living with TD to seek the help they deserve.

“Mental health is a topic close to my heart, and I’m grateful for the opportunity to partner with Neurocrine Biosciences to spread hope and positivity by sharing stories, connecting with individuals in the mental health community and encouraging those experiencing uncontrollable movements to speak with their healthcare provider about appropriate treatment,” Carnie said. “I’ve seen the difference that seeking support and treatment can make, and I want people who may be struggling with tardive dyskinesia to know they do not need to suffer in silence.”

Although Carnie does not have TD, she is committed to advocating for those with the condition. She has been inspired by conversations with mental health advocacy leaders regarding TD and its impact, in addition to individuals living with TD, their care partners and healthcare professionals who have shared experiences and success stories regarding treatment with INGREZZA. Videos featuring interviews of some of these conversations, along with resources for people living with TD, will be available on ConnectingWithCarnie.com.

“We are moved by Carnie’s passion to be a guiding voice for people impacted by TD, recognizing that even mild uncontrolled movements can significantly impact everyday activities, personal well-being and interactions with others,” said Eric Benevich, Chief Commercial Officer, Neurocrine Biosciences. “Our goal for ConnectING with Carnie is to reduce stigma, increase understanding and encourage individuals with involuntary movements to consult a healthcare provider for appropriate diagnosis and treatment options, such as INGREZZA.”

For more information on TD, INGREZZA and this partnership, visit ConnectingWithCarnie.com.

About ConnectING with Carnie
™
ConnectING with Carnie™ is a multimedia awareness campaign in partnership with Grammy-nominated singer-songwriter and mental health advocate, Carnie Wilson. The campaign aims to raise awareness of tardive dyskinesia (TD), combat stigma, promote diagnosis and empower patients to self-advocate and explore treatment options, including INGREZZA^® (valbenazine) capsules, an FDA-approved TD treatment for adults. Carnie Wilson is an advocate for those living with mental health conditions and TD. Carnie Wilson is a paid spokesperson for INGREZZA/Neurocrine Biosciences, Inc. She is not diagnosed with TD and does not take INGREZZA. To learn more about the campaign, visit ConnectingWithCarnie.com.

About Tardive Dyskinesia
Tardive dyskinesia (TD) is a movement disorder that is characterized by uncontrolled, abnormal and repetitive movements of the face, torso and/or other body parts, which may be disruptive and negatively impact patients. The condition is associated with taking certain kinds of mental health medicines (antipsychotics) that help control dopamine receptors in the brain. Taking antipsychotics commonly prescribed to treat mental illnesses such as major depressive disorder, bipolar disorder, schizophrenia and schizoaffective disorder and other prescription medicines (metoclopramide and prochlorperazine) used to treat gastrointestinal disorders are associated with TD. In patients with TD, these treatments are thought to result in irregular dopamine signaling in a region of the brain that controls movement. The symptoms of TD can be mild to severe and are often persistent and irreversible. TD is estimated to affect at least 800,000 adults in the U.S.

About INGREZZA^® (valbenazine) Capsules and INGREZZA^® SPRINKLE (valbenazine) Capsules

INGREZZA is a selective vesicular monoamine transporter 2 (VMAT2) inhibitor approved by the U.S. Food and Drug Administration for the treatment of adults with tardive dyskinesia and the treatment of chorea associated with Huntington’s disease (HD). Only INGREZZA offers a therapeutic dose from day one with no required titration.

INGREZZA, developed by Neurocrine Biosciences, selectively inhibits VMAT2 with no appreciable binding affinity for VMAT1, dopaminergic (including D2), serotonergic, adrenergic, histaminergic or muscarinic receptors. While the specific way INGREZZA works to treat TD and HD chorea is not fully understood, INGREZZA is unique in that it selectively and specifically targets VMAT2 to inhibit the release of dopamine, a chemical in the brain that helps control movement. INGREZZA is believed to reduce extra dopamine signaling, which may lead to fewer uncontrollable movements.

INGREZZA is proven across the widest range of patients. It is always one capsule, once daily and can be taken together with most stable mental health regimens such as antipsychotics or antidepressants. Only INGREZZA offers the benefit of a sprinkle formulation, INGREZZA SPRINKLE, for those who experience dysphagia, have difficulty swallowing or prefer not to swallow a pill. INGREZZA and INGREZZA SPRINKLE dosages approved for use are 40 mg, 60 mg and 80 mg capsules.

Important Information

Approved Uses

INGREZZA^®(valbenazine) capsules or INGREZZA^®SPRINKLE (valbenazine) capsules are prescription medicines used to treat adults with:

movements in the face, tongue, or other body parts that cannot be controlled (tardive dyskinesia).
involuntary movements (chorea) of Huntington’s disease. INGREZZA or INGREZZA SPRINKLE do not cure the cause of involuntary movements, and do not treat other symptoms of Huntington’s disease, such as problems with thinking or emotions.

It is not known if INGREZZA or INGREZZA SPRINKLE is safe and effective in children.

IMPORTANT SAFETY INFORMATION

INGREZZA or INGREZZA SPRINKLE can cause serious side effects in people with Huntington’s disease, including: depression, suicidal thoughts, or suicidal actions. Tell your healthcare provider before you start taking INGREZZA or INGREZZA SPRINKLE if you have Huntington’s disease and are depressed (have untreated depression or depression that is not well controlled by medicine) or have suicidal thoughts. Pay close attention to any changes, especially sudden changes, in mood, behaviors, thoughts, or feelings. This is especially important when INGREZZA or INGREZZA SPRINKLE is started and when the dose is changed. Call your healthcare provider right away if you become depressed, have unusual changes in mood or behavior, or have thoughts of hurting yourself.

Do not take INGREZZA or INGREZZA SPRINKLE if you:

are allergic to valbenazine, or any of the ingredients in INGREZZA or INGREZZA SPRINKLE.

INGREZZA or INGREZZA SPRINKLE can cause serious side effects, including:

Allergic reactions. Allergic reactions, including an allergic reaction that causes sudden swelling called angioedema, can happen after taking the first dose or after many doses of INGREZZA or INGREZZA SPRINKLE. Signs and symptoms of allergic reactions and angioedema include: trouble breathing or shortness of breath, swelling of your face, lips, eyelids, tongue, or throat, or other areas of your skin, trouble with swallowing, or rash, including raised, itchy red areas on your skin (hives). Swelling in the throat can be life-threatening and can lead to death. Stop taking INGREZZA or INGREZZA SPRINKLE and go to the nearest emergency room right away if you develop these signs and symptoms of allergic reactions and angioedema.
Sleepiness and tiredness that could cause slow reaction times (somnolence and sedation). Do not drive a car or operate dangerous machinery until you know how INGREZZA or INGREZZA SPRINKLE affects you. Drinking alcohol and taking other medicines may also cause sleepiness during treatment with INGREZZA or INGREZZA SPRINKLE.
Heart rhythm problems (QT prolongation). INGREZZA or INGREZZA SPRINKLE may cause a heart rhythm problem known as QT prolongation. You have a higher chance of getting QT prolongation if you also take certain other medicines during treatment with INGREZZA or INGREZZA SPRINKLE. Tell your healthcare provider right away if you develop any signs or symptoms of QT prolongation, including: fast, slow, or irregular heartbeat (heart palpitations), shortness of breath, dizziness or lightheadedness, or fainting or feeling like you are going to faint.
Neuroleptic Malignant Syndrome (NMS). NMS is a serious condition that can lead to death. Call a healthcare provider right away or go to the nearest emergency room if you develop these symptoms and they do not have another obvious cause: high fever, stiff muscles, problems thinking, irregular pulse or blood pressure, increased sweating, or very fast or uneven heartbeat.
Parkinson-like symptoms. Symptoms include: body stiffness, drooling, trouble moving or walking, trouble keeping your balance, shaking (tremors), or falls.

Before taking INGREZZA or INGREZZA SPRINKLE, tell your healthcare provider about all of your medical conditions including if you: have liver or heart problems, are pregnant or plan to become pregnant, or are breastfeeding or plan to breastfeed.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. Make sure you tell all of your healthcare providers that you are taking INGREZZA or INGREZZA SPRINKLE. Taking INGREZZA or INGREZZA SPRINKLE with certain other medicines may cause serious side effects. Especially tell your healthcare provider if you: take digoxin or take or have taken a monoamine oxidase inhibitor (MAOI) medicine. You should not take INGREZZA or INGREZZA SPRINKLE if you are taking, or have stopped taking, a MAOI within the last 14 days.

The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with tardive dyskinesia are sleepiness and tiredness.

The most common side effects of INGREZZA or INGREZZA SPRINKLE in people with chorea associated with Huntington’s disease include sleepiness and tiredness, raised itchy red areas on your skin (hives), rash, and trouble getting to sleep or staying asleep.

These are not all of the possible side effects of INGREZZA or INGREZZA SPRINKLE. Call your doctor for medical advice about side effects. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit MedWatch at www.fda.gov/medwatch or call 1-800-FDA-1088.

Dosage Forms and Strengths: INGREZZA and INGREZZA SPRINKLE are available in 40 mg, 60 mg, and 80 mg capsules.

Please see full

Prescribing Information

, including Boxed Warning, and

Medication Guide

.

About Neurocrine Biosciences, Inc.

Neurocrine Biosciences is a leading neuroscience-focused, biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering and developing life-changing treatments for patients with under-addressed neurological, neuroendocrine and neuropsychiatric disorders. The company’s diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington’s disease, classic congenital adrenal hyperplasia, endometriosis* and uterine fibroids,* as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across our core therapeutic areas. For three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn, X and Facebook. (*in collaboration with AbbVie)

The NEUROCRINE BIOSCIENCES Logo, NEUROCRINE, YOU DESERVE BRAVE SCIENCE and INGREZZA are registered trademarks of Neurocrine Biosciences, Inc. ConnectING with Carnie is a trademark of Neurocrine Biosciences, Inc.

Forward-Looking Statements

In addition to historical facts, this press release contains forward-looking statements that involve a number of risks and uncertainties. These statements include, but are not limited to, statements regarding the potential benefits to be derived from INGREZZA, the value INGREZZA may bring to patients, and the Company’s plans to encourage awareness that may help address the needs of people living with tardive dyskinesia (TD). Factors that could cause actual results to differ materially from those stated or implied in the forward-looking statements include, but are not limited to, the following: whether the Company can successfully encourage awareness of people living with TD, risks and uncertainties associated with Neurocrine Biosciences’ business and finances in general, as well as risks and uncertainties associated with the commercialization of INGREZZA; whether INGREZZA receives adequate reimbursement from third-party payors; risks and uncertainties relating to competitive products and technological changes that may limit demand for INGREZZA; risks associated with the Company’s dependence on third parties for development and manufacturing activities related to INGREZZA, and the ability of the Company to manage these third parties; risks that additional regulatory submissions for INGREZZA or other product candidates may not occur or be submitted in a timely manner; risks that the FDA or other regulatory authorities may make adverse decisions regarding INGREZZA; risks that post-approval INGREZZA commitments or requirements may be delayed; risks that INGREZZA may be precluded from commercialization by the proprietary or regulatory rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and other risks described in the Company’s periodic reports filed with the Securities and Exchange Commission, including without limitation the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2025. Neurocrine Biosciences disclaims any obligation to update the statements contained in this press release after the date hereof other than required by law.

REFERENCE

1. INGREZZA capsules [package insert]. San Diego, CA: Neurocrine Biosciences; 2024.

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SOURCE Neurocrine Biosciences, Inc.

May 6, 2025 9:25 am

Intelligent Bio Solutions Drives Global Growth Through Multilingual Digital Expansion

Arabic, Italian, and Spanish-language websites unlock commercial access to regions representing over 1.4 billion people

Multilingual rollout aligns with product readiness and accelerates international sales pipeline development

NEW YORK, May 06, 2025 (GLOBE NEWSWIRE) — Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced the launch of three new localized websites in Arabic, Italian, and Spanish. This rollout supports the Company’s global growth plans and international sales expansion by opening digital and commercial access to some of the world’s fastest-growing, high-demand regions for workplace safety and compliance solutions.

The newly launched websites form part of INBS’ broader localization strategy, ensuring the business is operationally ready and market-aligned to capture new revenue opportunities across Europe, the Middle East, and Latin America. Collectively, these regions represent a combined population of over 1.4 billion people¹.

“This is not just a translation project; it’s a commercial growth engine,” said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. “By localizing our online presence and sales infrastructure to make it ready for use by customers across the globe, we are building scalable access to high-potential markets. These initiatives are the foundation for strengthening distributor relationships, increasing lead generation, and facilitating faster market penetration worldwide.”

The Company has already seen strong interest from international partners following recent advancements in multilingual reader functionality, which enables its fingerprint sweat-based drug screening system, a portable, hygienic, and dignified alternative to urine or saliva testing, to be accessible and deployable in non-English speaking environments.

INBS has identified strong growth opportunities across Latin America, the Middle East, and Southern Europe. In Latin America, the drug screening market is projected to reach USD 1.1 billion by 2030², with Spanish serving as the official language in 20 countries across the region. Meanwhile, Gulf Cooperation Council (GCC) countries continue to strengthen enforcement of workplace safety standards, driving demand for compliant screening solutions in the Middle East.

The new websites are expected to strengthen inbound demand and accelerate conversion across distribution and sales channels by removing language barriers and aligning with regional expectations. They further complement the Company’s ongoing commercial initiatives, including expansion of its global distributor network and increased investment in digital lead generation and localization infrastructure. The new websites can be accessed through INBS’ global product website at www.intelligentfingerprinting.com.

INBS’ Intelligent Fingerprinting Drug Screening System is designed to detect recent drug use through fingerprint sweat analysis, providing results in under ten minutes. With over 400 active accounts in 19 countries, INBS continues to lead the evolution of drug screening technology, serving industries including construction, manufacturing, transport, and logistics.

About Intelligent Bio Solutions Inc.

Intelligent Bio Solutions Inc. (NASDAQ: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Screening System will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a hygienic and cost-effective system, the test screens for the recent use of drugs commonly found in the workplace, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool for employers in safety-critical industries. The Company’s current customer segments outside the US include construction, manufacturing and engineering, transport and logistics firms, drug treatment organizations, and coroners.

For more information, visit: http://www.ibs.inc/

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, Intelligent Bio Solutions Inc.’s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefit from its partnerships and collaborations, and secure regulatory approvals, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, included in Intelligent Bio Solutions’ public filings filed with the Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of its date. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Company Contact:

Intelligent Bio Solutions Inc.
[email protected]
LinkedIn | Twitter

Investor & Media Contact:

Valter Pinto, Managing Director
KCSA Strategic Communications
PH: (212) 896-1254
[email protected]

Hyperlinks and website references in this release are provided for convenience only, and do not incorporate the referenced content into this release.

¹ United Nations, 2024. World Population Prospects 2024, Department of Economic and Social Affairs, Population Division. Available at: https://population.un.org/wpp/
² Grand View Research 2025. Latin America Drug Screening Market Size & Outlook. Available at: https://www.grandviewresearch.com/horizon/outlook/drug-screening-market/latin-america

May 6, 2025 9:23 am

XPEL Reports Revenue Growth of 15.2%; Net Income Growth of 28.8% in First Quarter 2025; Announces $50 million Stock Repurchase Program

XPEL Reports Revenue Growth of 15.2%; Net Income Growth of 28.8% in First Quarter 2025; Announces $50 million Stock Repurchase Program

SAN ANTONIO, Texas–(BUSINESS WIRE)–
XPEL, Inc. (Nasdaq: XPEL) (the “Company”), a global provider of protective films and coatings, announced consolidated results¹ for the first quarter of 2025.

First Quarter 2025 Overview:

Revenue increased 15.2% to $103.8 million in the first quarter of 2025.
Gross margin of 42.3% in the first quarter of 2025.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 23.2% to $14.4 million, or 13.9% of revenue, compared to $11.7 million, or 13.0% of revenue in the first quarter of 2024.²
Net income increased 28.8% to $8.6 million, or $0.31 per basic and diluted share, versus net income of $6.7 million, or $0.24 per basic and diluted share in the first quarter of 2024.

Ryan Pape, President and Chief Executive Officer of XPEL, commented, “We are off to a good start in 2025 with both solid top line and bottom line performance. We will remain focused on delivering outstanding products and services to our customers as we navigate the ongoing tariff uncertainty.”

Stock Repurchase Program

The Company’s Board of Directors has authorized the Company to repurchase up to $50 million of the Company’s common stock. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. The repurchase program may be suspended or discontinued at any time.

Financial Highlights for the First Quarter 2025:

Summary consolidated financial information for the first quarter 2025 and 2024 (unaudited, dollars in thousands):

	Three Months Ended March 31,									% Change
	2025		% of Total Revenue		2024			% of Total Revenue		2025 vs. 2024
Total revenue	$	103,805	100.0	%	$	90,104		100.0	%	15.2	%
Gross margin		43,896	42.3	%		37,876		42.0	%	15.9	%
Operating Expenses		32,776	31.6	%		28,647		31.8	%	14.4	%
Net income		8,586	8.3	%		6,666		7.4	%	28.8	%
EBITDA²		14,411	13.9	%		11,700		13.0	%	23.2	%
Net cash provided by (used in) operating activities	$	3,228	3.1	%	$	(4,959	)	n/a		n/a

Geographical Revenue Summary

	Three Months Ended March 31,				% Change		% of Total Revenue
	2025		2024		Inc (Dec)		2025		2024
United States	$	58,073	$	52,048	11.6	%	56.0	%	57.8	%
Continental Europe		11,148		10,216	9.1	%	10.7	%	11.3	%
Canada		9,426		11,080	(14.9	)%	9.1	%	12.3	%
China		8,107		1,450	459.1	%	7.8	%	1.6	%
Middle East/Africa		5,910		5,143	14.9	%	5.7	%	5.7	%
Asia Pacific		5,000		3,750	33.3	%	4.8	%	4.2	%
United Kingdom		3,579		3,486	2.7	%	3.4	%	3.9	%
Latin America		2,562		2,931	(12.6	)%	2.5	%	3.2	%
Total	$	103,805	$	90,104	15.2	%	100.0	%	100.0	%

Overall Revenue

Total revenue grew 15.2% compared to first quarter of 2024 (“YoY”).
US revenue increased 11.6% YoY.
Middle East/Africa region had a record revenue quarter.

Product and Service Revenue

Total product revenue increased 17.7% YoY and represented 75.8% of total revenue.
Total window film revenue increased 28.1% YoY and represented 18.0% of total revenue.
Total service revenue increased 7.9% YoY and represented 24.2% of total revenue.
Total installation revenue (labor and product combined) grew 11.6% YoY.
Adjusted product revenue (combining cutbank credits revenue and product revenue) increased 16.2% YoY.

Other Financial Information

Gross margin percentage was 42.3% and 42.0% in the first quarter of 2025 and 2024, respectively.
Sales and marketing expense increased 14.3% YoY.
General and administrative expense increased 14.5% YoY.
Net income increased $1.9 million or 28.8% YoY.
EBITDA increased 23.2% YoY².

Cash Flows from Operations

Cash flows provided by operations were $3.2 million in the first quarter 2025.

2025 Second Quarter Outlook

The Company expects second quarter 2025 revenue of approximately $117 – $119 million.

Please see the information under “Forward-looking Statements” below regarding certain cautionary statements relating to our 2025 Second Quarter Outlook.

Conference Call Information

The Company will host a conference call and webcast today, May 6, 2025 at 11:00 a.m. Eastern Time to discuss the Company’s first quarter 2025 results.

To access the live webcast, please visit the XPEL, Inc. website at https://investor.xpel.com/events-and-presentations/.

To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 154157.

A replay of the teleconference will be available until June 5, 2025 and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52324.

About XPEL, Inc.

XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.

¹ The results summarized above for 2025 are preliminary and unaudited. As the Company completes its quarter-end financial close processes and finalizes its financial statements for the first quarter of 2025, it is possible that the Company may identify items that require it to make adjustments to the preliminary information set forth above, and those adjustments could be material. Full first quarter 2025 financial information will be included in the filing of the Company’s Quarterly Report on Form 10-Q with the Securities and Exchange Commission which is anticipated on or prior to May 9, 2025.

² See “Non-GAAP Financial Measure” and “Reconciliation of Non-GAAP Financial Measure” below.

Forward-looking Statements

This release includes forward-looking statements (within the meaning of Section 27A of the Securities act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding XPEL, Inc. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, execution of the company’s growth strategy and outlook. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “is expected,” “expects,” “scheduled,” “intends,” “contemplates,” “anticipates,” “believes,” “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and assumptions of the management of XPEL. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: competition, a prolonged or material contraction in automotive sales and production volumes, disruption in our supply chain, technology that could render our products obsolete, changes in the way vehicles are sold, damage to our brand and reputation, cyber events and other legal and regulatory developments. There are several risks, uncertainties, and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from the forward-looking statements contained in this press release, including those described in the “Risk Factors” section of Annual Report on Form 10-K. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measure

To aid in the understanding of XPEL’s ongoing business performance, XPEL uses EBITDA, a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of XPEL’s financial performance under GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly title measures. For a full reconciliation of EBITDA to comparable GAAP measure, refer to the reconciliation titled “Reconciliation of Non-GAAP Financial Measure.”


XPEL, Inc.
Consolidated Statements of Income (Unaudited)
(In thousands except per share data)

	Three Months Ended March 31,
	2025			2024
Revenue
Product revenue	$	78,712		$	66,852
Service revenue		25,093			23,252
Total revenue		103,805			90,104

Cost of Sales
Cost of product sales		48,439			42,135
Cost of service		11,470			10,093
Total cost of sales		59,909			52,228
Gross Margin		43,896			37,876

Operating Expenses
Sales and marketing		11,875			10,391
General and administrative		20,901			18,256
Total operating expenses		32,776			28,647

Operating Income		11,120			9,229

Interest expense		75			473
Foreign currency exchange (gain) loss		(235	)		272

Income before income taxes		11,280			8,484
Income tax expense		2,694			1,818
Net income	$	8,586		$	6,666

Earnings per share
Basic	$	0.31		$	0.24
Diluted	$	0.31		$	0.24
Weighted Average Number of Common Shares
Basic		27,655			27,630
Diluted		27,676			27,637


XPEL, Inc.
Consolidated Balance Sheets
(In thousands except share and per share data)

	(Unaudited)			(Audited)
	March 31, 2025			December 31, 2024
Assets
Current
Cash and cash equivalents	$	23,541		$	22,087
Accounts receivable, net		33,359			29,146
Inventory, net		115,306			110,904
Prepaid expenses and other current assets		6,093			5,314
Income tax receivable		—			893
Total current assets		178,299			168,344
Property and equipment, net		17,254			17,735
Right-of-use lease assets		19,240			19,490
Intangible assets, net		33,795			34,562
Deferred tax asset, net		235			—
Other non-current assets		1,555			1,350
Goodwill		44,444			44,126
Total assets	$	294,822		$	285,607
Liabilities
Current
Current portion of notes payable	$	65		$	63
Current portion lease liabilities		5,075			4,666
Accounts payable and accrued liabilities		34,377			36,789
Income tax payable		2,065			—
Total current liabilities		41,582			41,518
Deferred tax liability, net		—			469
Other long-term liabilities		1,826			1,810
Non-current portion of lease liabilities		15,809			16,126
Non-current portion of notes payable		151			229
Total liabilities		59,368			60,152
Commitments and Contingencies (Note 11)
Stockholders’ equity
Preferred stock, $0.001 par value; authorized 10,000,000; none issued and outstanding		—			—
Common stock, $0.001 par value; 100,000,000 shares authorized; 27,661,587 and 27,651,773 issued and outstanding, respectively		28			28
Additional paid-in-capital		16,136			15,550
Accumulated other comprehensive loss		(3,409	)		(4,236	)
Retained earnings		222,699			214,113
Total stockholders’ equity		235,454			225,455
Total liabilities and stockholders’ equity	$	294,822		$	285,607


XPEL, Inc.
Consolidated Statements of Cash Flows (Unaudited)
(In thousands)

	Three Months Ended March 31,
	2025			2024
Cash flows from operating activities
Net income	$	8,586		$	6,666
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation of property, plant and equipment		1,535			1,333
Amortization of intangible assets		1,521			1,410
Gain on sale of property and equipment		—			(18	)
Stock compensation		679			630
Provision for credit losses		73			89
Deferred income tax		(766	)		(157	)

Changes in assets and liabilities:
Accounts receivable		(3,915	)		(4,763	)
Inventory, net		(4,188	)		(3,878	)
Prepaid expenses and other current assets		(551	)		(2,325	)
Income taxes receivable and payable		2,954			904
Accounts payable and accrued liabilities		(2,700	)		(4,850	)
Net cash provided by (used in) operating activities		3,228			(4,959	)
Cash flows used in investing activities
Purchase of property, plant and equipment		(1,003	)		(2,017	)
Proceeds from sale of property and equipment		2			—
Acquisition of a business, net of cash acquired		(42	)		(757	)
Development of intangible assets		(513	)		(340	)
Net cash used in investing activities		(1,556	)		(3,114	)
Cash flows from financing activities
Net borrowings on revolving credit agreement		—			5,000
Restricted stock withholding taxes paid in lieu of issued shares		(93	)		—
Repayments of notes payable		(77	)		(15	)
Net cash (used in) provided by financing activities		(170	)		4,985
Net change in cash and cash equivalents		1,502			(3,088	)
Foreign exchange impact on cash and cash equivalents		(48	)		93
Increase (Decrease) in cash and cash equivalents during the period		1,454			(2,995	)
Cash and cash equivalents at beginning of period		22,087			11,609
Cash and cash equivalents at end of period	$	23,541		$	8,614

Supplemental schedule of non-cash activities
Non-cash lease financing	$	832		$	952
Issuance of common stock for vested restricted stock units	$	190		$	57
Supplemental cash flow information
Cash paid for income taxes	$	519		$	1,152
Cash paid for interest	$	89		$	430

Reconciliation of Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure. EBITDA is defined as net income (loss) plus interest expense, net, plus income tax expense plus depreciation expense and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. It is not a measurement of our financial performance under GAAP and should not be considered as alternatives to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our operating results as reported under GAAP.

EBITDA does not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of ongoing operations and other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure.


EBITDA Reconciliation (in thousands)

	(Unaudited)
	Three Months Ended March 31,
	2025		2024
Net Income	$	8,586	$	6,666
Interest		75		473
Taxes		2,694		1,818
Depreciation		1,535		1,333
Amortization		1,521		1,410
EBITDA	$	14,411	$	11,700

View source version on businesswire.com: https://www.businesswire.com/news/home/20250506168528/en/

For more information, contact:

Investor Relations:

John Nesbett/Jennifer Belodeau

IMS Investor Relations

Phone: (203) 972-9200

Email: [email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: General Automotive Automotive Manufacturing Manufacturing Automotive

MEDIA:

Logo

May 6, 2025 9:21 am

Quantum Announces Preliminary Fiscal Fourth Quarter 2025 Financial Results

Quantum Announces Preliminary Fiscal Fourth Quarter 2025 Financial Results

SAN JOSE, Calif.–(BUSINESS WIRE)–
Quantum Corporation (Nasdaq: QMCO) (“Quantum” or the “Company”), a leader in solutions for AI and unstructured data, today announced select preliminary financial results for its fiscal fourth quarter of 2025 ended March 31, 2025.

Based on preliminary unaudited financials, the Company expects its reported results for fiscal fourth quarter of 2025 to reflect the following:

Revenue of $65 – $67 million, in line with guidance of $66 million, plus or minus $2.0 million
Gross margin of approximately 44%, plus or minus 1%
GAAP net loss of approximately $3.5 million, plus or minus $1.0 million

Quantum will release its full results for the fiscal fourth quarter and full fiscal year ended March 31, 2025 in mid-June 2025.

About Quantum

Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset – their data. Quantum is listed on Nasdaq (QMCO). For more information visit www.quantum.com.

Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

Forward-Looking Information

The results reported in this press release are preliminary and unaudited, and are subject to change. The Company has not yet completed its annual financial close process for the fiscal 2025 fourth quarter and full fiscal year, and its independent auditors have not completed their audit of the Company’s financial statements for the full fiscal year ended March 31, 2025. The financial results in this earnings report does not present all necessary information for an understanding of the Company’s results of operations for the fiscal 2025 fourth quarter and full fiscal year. As the Company completes its financial close process and finalizes its financial statements, and as its independent auditors complete their review of the Company’s financial statements for the fiscal year ended March 31, 2025, it is possible the Company may identify items that require adjustments to the preliminary financial information set forth in this press release, and those changes could be material. The Company does not intend to update such financial information prior to the filing of its Annual Report on Form 10-K with the Securities and Exchange Commission (the “SEC”) for the fiscal year ended March 31, 2025, except as otherwise required by law.

The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements related to our financial results for the fourth quarter ended March 31, 2025.

These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: risks related to the completion of the Company’s annual financial close process and the independent auditors’ audit of the Company’s financial statements for the full fiscal year; any changes to the assumptions underlying the Company’s closing process and auditors’ audit; risks that the Company may identify additional items that require adjustments to the preliminary financial information; risks related to the need to address the many challenges facing our business; the impact macroeconomic and inflationary conditions on our business, including potential disruptions to our supply chain, employees, operations, sales and overall market conditions; the competitive pressures we face; risks associated with executing our strategy; the distribution of our products and the delivery of our services effectively; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; estimates and assumptions related to the cost (including any possible disruption of our business) and the anticipated benefits of the transformation and restructuring plans, including equity and debt financing options; the outcome of any claims and disputes; the ability to meet stock exchange continued listing standards; risks related to our ability to implement and maintain effective internal control over financial reporting in the future; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the SEC, including our Annual Report on Form 10-K filed with the SEC on June 28, 2024, and any subsequent reports filed with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250506988584/en/

Investor Relations Contacts:

Shelton Group

Leanne K. Sievers | Brett L. Perry

E: [email protected]

P: 214-272-0070

Media Contact:

Matter Communications

Sara Beth Fahey

E: [email protected]

P: 401-351-9507

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Software Technology Data Management Apps/Applications

MEDIA:

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