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Annaly Capital Management, Inc. Increases 1^st Quarter 2025 Common Stock Dividend to $0.70 per Share

NEW YORK–(BUSINESS WIRE)–
The Board of Directors of Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) increased the first quarter 2025 common stock cash dividend to $0.70 per common share. This dividend is payable April 30, 2025, to common shareholders of record on March 31, 2025. The ex-dividend date is March 31, 2025.

About Annaly

Annaly is a leading diversified capital manager with investment strategies across mortgage finance. Annaly’s principal business objective is to generate net income for distribution to its stockholders and to optimize its returns through prudent management of its diversified investment strategies. Annaly is internally managed and has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Additional information on the company can be found at www.annaly.com.

Forward-Looking Statements

This news release and our public documents to which we refer contain or incorporate by reference certain forward-looking statements which are based on various assumptions (some of which are beyond our control) and may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as “may,” “will,” “should,” “estimate,” “project,” “believe,” “expect,” “anticipate,” “continue,” or similar terms or variations on those terms or the negative of those terms. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability of mortgage-backed securities and other securities for purchase; the availability of financing and, if available, the terms of any financing; changes in the market value of our assets; changes in business conditions and the general economy; our ability to grow our residential credit business; our ability to grow our mortgage servicing rights business; credit risks related to our investments in credit risk transfer securities and residential mortgage-backed securities and related residential mortgage credit assets; risks related to investments in mortgage servicing rights; the our ability to consummate any contemplated investment opportunities; changes in government regulations or policy affecting our business; our ability to maintain our qualification as a REIT for U.S. federal income tax purposes; our ability to maintain our exemption from registration under the Investment Company Act of 1940; and operational risks or risk management failures by us or critical third parties, including cybersecurity incidents. For a discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250313872422/en/

Annaly Capital Management, Inc.

Investor Relations

1-888-8Annaly

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Construction & Property Professional Services REIT Finance

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Cherry Hill Mortgage Investment Corporation Announces Common and Preferred Dividends for the First Quarter 2025

TINTON FALLS, N.J.–(BUSINESS WIRE)–
Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that its Board of Directors declared a dividend of $0.15 per share on the Company’s common stock for the first quarter of 2025. The dividend will be payable in cash on April 30, 2025 to holders of the common stock of record as of the close of business on March 31, 2025.

Additionally, Cherry Hill announced that its Board of Directors has declared a dividend of $0.5125 per share on the Company’s 8.20% Series A Cumulative Redeemable Preferred Stock and a dividend of $0.6372 per share on the Company’s 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for the first quarter of 2025. The dividends will be payable in cash on April 15, 2025 to holders of the applicable Series of Preferred Stock of record as of the close of business on March 31, 2025.

About Cherry Hill Mortgage Investment Corporation

Cherry Hill Mortgage Investment Corporation is a real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. For additional information, visit www.chmireit.com.

Forward-Looking Statements

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including, among others, statements relating to the Company’s long-term growth opportunities and strategies, expand its market opportunities and create its own Excess MSRs and its ability to generate sustainable and attractive risk-adjusted returns for stockholders. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other documents filed by the Company with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250312274756/en/

Investor Relations

(877) 870 – 7005

[email protected]

KEYWORDS: United States North America New Jersey

INDUSTRY KEYWORDS: REIT Finance Professional Services Residential Building & Real Estate Construction & Property

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Posted on March 13, 2025 8:04 am

CION Investment Corporation Reports Fourth Quarter and Year End 2024 Financial Results

CION Investment Corporation Reports Fourth Quarter and Year End 2024 Financial Results

Continued Strong Performance in 2024 With $1.79 in Net Investment Income and $1.52 in Total Shareholder Distributions

NEW YORK–(BUSINESS WIRE)–
CION Investment Corporation (NYSE: CION) (“CION” or the “Company”) today reported financial results for the fourth quarter and year ended December 31, 2024 and filed its Form 10-K with the U.S. Securities and Exchange Commission.

CION also announced that, on March 10, 2025, its co-chief executive officers declared a first quarter 2025 base distribution of $0.36 per share payable on April 11, 2025 to shareholders of record as of March 28, 2025.

FOURTH QUARTER AND OTHER HIGHLIGHTS

• Net investment income and earnings per share for the quarter ended December 31, 2024 were $0.35 per share and $0.10 per share, respectively;
• Net asset value per share was $15.43 as of December 31, 2024 compared to $15.73 as of September 30, 2024, a decrease of $0.30 per share, or 1.9%. The decrease was primarily due to mark-to-market price adjustments to the Company’s portfolio during the quarter ended December 31, 2024;
• As of December 31, 2024, the Company had $1.12 billion of total principal amount of debt outstanding, of which 38% was comprised of senior secured bank debt and 62% was comprised of unsecured debt. The Company’s net debt-to-equity ratio was 1.27x as of December 31, 2024 compared to 1.18x as of September 30, 2024;
• As of December 31, 2024, the Company had total investments at fair value of $1.82 billion in 105 portfolio companies across 24 industries. The investment portfolio was comprised of 86.1% senior secured loans, including 86.0% in first lien investments;¹
• During the quarter, the Company funded new investment commitments of $100 million, funded previously unfunded commitments of $12 million, and had sales and repayments totaling $48 million, resulting in a net increase to the Company’s funded portfolio of $64 million;
• As of December 31, 2024, investments on non-accrual status amounted to 1.41% and 3.22% of the total investment portfolio at fair value and amortized cost, respectively, which are down from 1.85% and 3.40%, respectively, as of September 30, 2024;
• During the quarter, the Company repurchased 170,617 shares of its common stock under its 10b5-1 trading plan at an average price of $11.74 per share for a total repurchase amount of $2.0 million. Through December 31, 2024, the Company repurchased a total of 3,769,171 shares of its common stock under its 10b5-1 trading plan at an average price of $10.16 per share for a total repurchase amount of $38.3 million;
• On October 3, 2024, the Company completed a public baby bond offering in the U.S. pursuant to which the Company issued $172.5 million of its unsecured 7.50% Notes due 2029, which listed and commenced trading on the NYSE under the ticker symbol “CICB” on October 9, 2024; and
• On February 13, 2025, the Company terminated its existing senior secured repurchase facility with UBS AG (“UBS”) and simultaneously entered into a new 3-year, $125 million senior secured credit facility with UBS, under which the floating interest rate payable by the Company on all advances was reduced by 0.45% per year, from the three-month SOFR plus a credit spread of 3.20% per year to SOFR plus a credit spread of 2.75% per year.

DISTRIBUTIONS

• For the quarter ended December 31, 2024, the Company paid a quarterly base distribution totaling $19.2 million, or $0.36 per share, and declared a year-end special distribution totaling $2.7 million, or $0.05 per share, paid on January 27, 2025 to shareholders of record as of December 30, 2024.

Michael A. Reisner, co-Chief Executive Officer of CION, commented:

“We are very pleased with our 2024 results, particularly against a backdrop of elevated competition and shifting expectations around both inflation and interest rates. Our BDC continues to generate a very attractive yield for our investors, which was enhanced this past year by our mid-year and year-end special distributions. We also had the pleasure of hosting both analysts and investors at CION’s first investor day as a listed company in January, highlighting our unique investment strategy as well as our track record of strong shareholder returns.”

SELECTED FINANCIAL HIGHLIGHTS

		As of
(in thousands, except per share data)		December 31, 2024			September 30, 2024
Investment portfolio, at fair value1		$	1,819,870		$	1,752,726
Total debt outstanding2		$	1,117,344		$	1,069,844
Net assets		$	820,810		$	839,190
Net asset value per share		$	15.43		$	15.73
Debt-to-equity		1.36x			1.28x
Net debt-to-equity		1.27x			1.18x

		Three Months Ended
(in thousands, except share and per share data)		December 31, 2024				September 30, 2024
Total investment income		$	57,894			$	59,627
Total operating expenses and income tax expense		$	39,208			$	38,009
Net investment income after taxes		$	18,686			$	21,618
Net realized (losses) gains		$	(2,238	)		$	3,938
Net unrealized losses		$	(10,990	)		$	(25,935	)
Net increase (decrease) in net assets resulting from operations		$	5,458			$	(379	)
Net investment income per share		$	0.35			$	0.40
Net realized and unrealized losses per share		$	(0.25	)		$	(0.41	)
Earnings per share		$	0.10			$	(0.01	)
Weighted average shares outstanding			53,268,577				53,439,316
Distributions declared per share		$	0.41			$	0.36

Total investment income for the three months ended December 31, 2024 and September 30, 2024 was $57.9 million and $59.6 million, respectively. The decrease in total investment income was primarily driven by lower SOFR rates on our investments during the three months ended December 31, 2024 as compared to the three months ended September 30, 2024.

Operating expenses for the three months ended December 31, 2024 and September 30, 2024 were $39.2 million and $38.0 million, respectively. The increase in operating expenses was driven by higher interest expense due to an increase in the Company’s total debt outstanding during the quarter ended December 31, 2024, partially offset by lower advisory fees paid to CIM due to a decrease in investment income during the quarter ended December 31, 2024 as compared to the quarter ended September 30, 2024.

PORTFOLIO AND INVESTMENT ACTIVITY¹

A summary of the Company’s investment activity for the three months ended December 31, 2024 is as follows:

		New Investment Commitments					Sales and Repayments
Investment Type		$ in Thousands			% of Total		$ in Thousands			% of Total
Senior secured first lien debt		$	101,784		96%		$	47,637		99%
Collateralized securities and structured products – equity			2,002		2%			25		—
Equity			2,333		2%			627		1%
Total		$	106,119		100%		$	48,289		100%

During the three months ended December 31, 2024, new investment commitments were made across 5 new and 15 existing portfolio companies. During the same period, the Company received the full repayment on investments in 2 portfolio companies and wrote-off the remaining investment in 1 portfolio company. As a result, the number of portfolio companies increased from 103 as of September 30, 2024 to 105 as of December 31, 2024.

PORTFOLIO SUMMARY¹

As of December 31, 2024, the Company’s investments consisted of the following:

		Investments at Fair Value
Investment Type		$ in Thousands			% of Total
Senior secured first lien debt		$	1,563,256		86.0%
Senior secured second lien debt			2,680		0.1%
Collateralized securities and structured products – equity			2,682		0.1%
Unsecured debt			11,814		0.6%
Equity			239,438		13.2%
Total		$	1,819,870		100.0%

The following table presents certain selected information regarding the Company’s investments:

		As of
		December 31, 2024		September 30, 2024
Number of portfolio companies		105		103
Percentage of performing loans bearing a floating rate3		93.8%		94.3%
Percentage of performing loans bearing a fixed rate3		6.2%		5.7%
Yield on debt and other income producing investments at amortized cost4		12.28%		12.23%
Yield on performing loans at amortized cost4		12.74%		12.73%
Yield on total investments at amortized cost		10.96%		10.88%
Weighted average leverage (net debt/EBITDA)5		5.02x		5.02x
Weighted average interest coverage5		2.07x		2.14x
Median EBITDA6		$34.2 million		$32.8 million

As of December 31, 2024, investments on non-accrual status represented 1.41% and 3.22% of the total investment portfolio at fair value and amortized cost, respectively. As of September 30, 2024, investments on non-accrual status represented 1.85% and 3.40% of the total investment portfolio at fair value and amortized cost, respectively.

LIQUIDITY AND CAPITAL RESOURCES

As of December 31, 2024, the Company had $1,117 million of total principal amount of debt outstanding, comprised of $425 million of outstanding borrowings under its senior secured credit facilities and $692 million of unsecured notes and term loans. The combined weighted average interest rate on debt outstanding was 7.8% for the quarter ended December 31, 2024. As of December 31, 2024, the Company had $76 million in cash and short-term investments and $131 million available under its financing arrangements.²

EARNINGS CONFERENCE CALL

CION will host an earnings conference call on Thursday, March 13, 2025 at 11:00 am Eastern Time to discuss its financial results for the fourth quarter and year ended December 31, 2024. Please visit the Investor Resources – Earnings Presentation section of the Company’s website at www.cionbdc.com for a slide presentation that complements the earnings conference call.

All interested parties are invited to participate via telephone or listen via the live webcast, which can be accessed by clicking the following link: CION Investment Corporation Fourth Quarter and Year End Conference Call. Domestic callers can access the conference call by dialing (877) 484-6065. International callers can access the conference call by dialing +1 (201) 689-8846. All callers are asked to dial in approximately 10 minutes prior to the call. An archived replay will be available on a webcast link located in the Investor Resources – Earnings Call section of CION’s website.

ENDNOTES

1)		The discussion of the investment portfolio excludes short-term investments.
2)		Total debt outstanding excludes netting of debt issuance costs of $18.2 million and $14.9 million as of December 31, 2024 and September 30, 2024, respectively.
3)		The fixed versus floating composition has been calculated as a percentage of performing debt investments measured on a fair value basis, including income producing preferred stock investments and excludes investments, if any, on non-accrual status.
4)		Computed based on the (a) annual actual interest rate or yield earned plus amortization of fees and discounts on the performing debt and other income producing investments as of the reporting date, divided by (b) the total performing debt and other income producing investments (excluding investments on non-accrual status) at amortized cost. This calculation excludes exit fees that are receivable upon repayment of the investment.
5)		For a particular portfolio company, the Company calculates the level of contractual indebtedness net of cash (“net debt”) owed by the portfolio company and compares that amount to measures of cash flow available to service the net debt. To calculate net debt, the Company includes debt that is both senior and pari passu to the tranche of debt owned by it but excludes debt that is legally and contractually subordinated in ranking to the debt owned by the Company. The Company believes this calculation method assists in describing the risk of its portfolio investments, as it takes into consideration contractual rights of repayment of the tranche of debt owned by the Company relative to other senior and junior creditors of a portfolio company. The Company typically calculates cash flow available for debt service at a portfolio company by taking EBITDA for the trailing twelve-month period. Weighted average net debt to EBITDA is weighted based on the fair value of the Company’s performing debt investments and excluding investments where net debt to EBITDA may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue.
		For a particular portfolio company, the Company also calculates the level of contractual interest expense owed by the portfolio company and compares that amount to EBITDA (“interest coverage ratio”). The Company believes this calculation method assists in describing the risk of its portfolio investments, as it takes into consideration contractual interest obligations of the portfolio company. Weighted average interest coverage is weighted based on the fair value of the Company’s performing debt investments, and excludes investments where interest coverage may not be the appropriate measure of credit risk, such as cash collateralized loans and investments that are underwritten and covenanted based on recurring revenue.
		Portfolio company statistics, including EBITDA, are derived from the financial statements most recently provided to the Company for each portfolio company as of the reported end date. Statistics of the portfolio companies have not been independently verified by the Company and may reflect a normalized or adjusted amount.
6)		Median EBITDA is calculated based on the portfolio company’s EBITDA as of the Company’s initial investment.

CĪON Investment Corporation Consolidated Balance Sheets (in thousands, except share and per share amounts)
		December 31, 2024				September 30, 2024
						(unaudited)
Assets
Investments, at fair value:
Non-controlled, non-affiliated investments (amortized cost of $1,489,777 and $1,421,998, respectively)		$	1,448,107			$	1,381,177
Non-controlled, affiliated investments (amortized cost of $274,642 and $276,204, respectively)			269,205				273,152
Controlled investments (amortized cost of $179,274 and $152,042, respectively)			171,376				151,900
Total investments, at fair value (amortized cost of $1,943,693 and $1,850,244, respectively)			1,888,688				1,806,229
Cash			7,670				29,765
Interest receivable on investments			45,140				49,446
Receivable due on investments sold and repaid			2,965				28,604
Dividends receivable on investments			—				76
Prepaid expenses and other assets			1,265				1,501
Total assets		$	1,945,728			$	1,915,621
Liabilities and Shareholders’ Equity
Liabilities
Financing arrangements (net of unamortized debt issuance costs of $18,156 and $14,925, respectively)		$	1,099,187			$	1,054,919
Payable for investments purchased			1,019				—
Accounts payable and accrued expenses			1,034				1,316
Interest payable			8,244				7,201
Accrued management fees			6,761				6,854
Accrued subordinated incentive fee on income			3,964				4,586
Accrued administrative services expense			2,006				1,515
Share repurchases payable			40				40
Shareholder distribution payable			2,663				—
Total liabilities			1,124,918				1,076,431
Shareholders’ Equity
Common stock, $0.001 par value; 500,000,000 shares authorized; 53,192,808 and
53,363,245 shares issued, and 53,189,269 and 53,359,886 shares outstanding, respectively			53				53
Capital in excess of par value			1,021,684				1,023,687
Accumulated distributable losses			(200,927	)			(184,550	)
Total shareholders’ equity			820,810				839,190
Total liabilities and shareholders’ equity		$	1,945,728			$	1,915,621
Net asset value per share of common stock at end of period		$	15.43			$	15.73

CĪON Investment Corporation Consolidated Statements of Operations (in thousands, except share and per share amounts)
		Three Months Ended December 31,								Year Ended December 31,
			2024				2023				2024				2023
		(unaudited)				(unaudited)
Investment income
Non-controlled, non-affiliated investments
Interest income		$	31,289			$	43,096			$	165,786			$	184,013
Paid-in-kind interest income			11,586				6,581				31,397				22,317
Fee income			3,754				3,127				9,865				7,871
Dividend income			371				128				5,855				210
Non-controlled, affiliated investments
Paid-in-kind interest income			2,810				2,419				11,692				8,372
Interest income			2,095				1,519				6,426				7,068
Dividend income			282				—				411				3,946
Fee income			50				—				3,648				2,432
Controlled investments
Interest income			3,584				2,786				12,970				8,090
Dividend income			—				—				—				4,250
Paid-in-kind interest income			—				2				—				1,050
Fee income			2,073				341				4,382				1,391
Total investment income			57,894				59,999				252,432				251,010
Operating expenses
Management fees			6,762				6,893				27,321				26,856
Administrative services expense			1,261				1,228				4,783				3,971
Subordinated incentive fee on income			3,963				4,615				20,334				22,277
General and administrative			1,859				1,422				7,157				7,382
Interest expense			25,244				24,023				96,870				85,556
Total operating expenses			39,089				38,181				156,465				146,042
Net investment income before taxes			18,805				21,818				95,967				104,968
Income tax expense (benefit), including excise tax			119				60				107				(54	)
Net investment income after taxes			18,686				21,758				95,860				105,022
Realized and unrealized (losses) gains
Net realized losses on:
Non-controlled, non-affiliated investments			(5,383	)			(351	)			(24,367	)			(31,927	)
Non-controlled, affiliated investments			3,145				—				(3,946	)			—
Controlled investments			—				—				—				—
Net realized losses			(2,238	)			(351	)			(28,313	)			(31,927	)
Net change in unrealized (depreciation) appreciation on:
Non-controlled, non-affiliated investments			1,124				7,050				(8,218	)			15,658
Non-controlled, affiliated investments			(4,358	)			1,801				5,059				(7,335	)
Controlled investments			(7,756	)			20,734				(30,486	)			13,896
Net change in unrealized (depreciation) appreciation			(10,990	)			29,585				(33,645	)			22,219
Net realized and unrealized (losses) gains			(13,228	)			29,234				(61,958	)			(9,708	)
Net increase in net assets resulting from operations		$	5,458			$	50,992			$	33,902			$	95,314
Per share information—basic and diluted
Net increase in net assets per share resulting from operations		$	0.10			$	0.94			$	0.63			$	1.74
Net investment income per share		$	0.35			$	0.40			$	1.79			$	1.92
Weighted average shares of common stock outstanding			53,268,577				54,292,065				53,564,788				54,685,327

ABOUT CION INVESTMENT CORPORATION

CION Investment Corporation is a leading publicly listed business development company that had approximately $1.9 billion in total assets as of December 31, 2024. CION seeks to generate current income and, to a lesser extent, capital appreciation for investors by focusing primarily on senior secured loans to U.S. middle-market companies. CION is advised by CION Investment Management, LLC, a registered investment adviser and an affiliate of CION. For more information, please visit www.cionbdc.com.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully because they discuss CION’s plans, strategies, prospects and expectations concerning its business, operating results, financial condition and other similar matters. These statements represent CION’s belief regarding future events that, by their nature, are uncertain and outside of CION’s control. There are likely to be events in the future, however, that CION is not able to predict accurately or control. Any forward-looking statement made by CION in this press release speaks only as of the date on which it is made. Factors or events that could cause CION’s actual results to differ, possibly materially from its expectations, include, but are not limited to, the risks, uncertainties and other factors CION identifies in the sections entitled “Risk Factors” and “Forward-Looking Statements” in filings CION makes with the SEC, and it is not possible for CION to predict or identify all of them. CION undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

OTHER INFORMATION

The information in this press release is summary information only and should be read in conjunction with CION’s Annual Report on Form 10-K, which CION filed with the SEC on March 13, 2025, as well as CION’s other reports filed with the SEC. A copy of CION’s Annual Report on Form 10-K and CION’s other reports filed with the SEC can be found on CION’s website at www.cionbdc.com and the SEC’s website at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250313921164/en/

Media

Susan Armstrong

[email protected]

Investor Relations

Charlie Arestia

[email protected]

(646) 253-8259

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

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ChargePoint Deploys EV Fast Charging in New York with Support from NY State Energy Research and Development Authority

CAMPBELL, Calif.–(BUSINESS WIRE)–ChargePoint (NYSE: CHPT), a leading provider of networked charging solutions for electric vehicles (EVs), today announced the opening of five ultra-fast charging sites in upstate New York. The sites are supported by the New York State Energy Research and Development Authority (NYSERDA), and are located in Cortland, Waterloo, Lake Placid, Niagara Falls, and Ripley. Drivers may find, use and pay for charging at these locations via the ChargePoint mobile app.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250312974340/en/

“ChargePoint’s collaboration with NYSERDA demonstrates the critical role that public-private partnerships will continue to play in the build out of charging infrastructure, particularly at the state level,” said Rick Wilmer, CEO of ChargePoint. “When all types of institutions work together to defray costs, much-needed EV charging infrastructure can scale at an accelerated pace.”

NYSERDA President and CEO Doreen M. Harris said, “NYSERDA is proud to work with ChargePoint to bring these fast chargers to Cortland, Waterloo, Lake Placid, Niagara Falls, and Ripley. This private-public investment will expand access to reliable public charging for a growing number of electric vehicle drivers while helping to reduce pollution and improve air quality across the state.”

NYSERDA’s support, through its Clean Transportation program, enables the build-out of critical EV charging infrastructure across New York State, reducing the capital investment needed to deploy public charging sites. This includes building out access in underserved communities, defined as disadvantaged communities by New York State’s Climate Justice Working Group. Fifty percent of the fast-charging stations funded through this program will be located in communities designated as disadvantaged.

To learn more about EV charging funding programs available from NYSERDA, please visit: https://www.nyserda.ny.gov/All-Programs/Charging-Station-Programs.

ChargePoint and the ChargePoint logo are trademarks of ChargePoint, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.

About ChargePoint Holdings, Inc.

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. For more information, visit the ChargePoint pressroom, the ChargePoint InvestorRelations site, or contact the ChargePoint North American press office or Investor Relations.

CHPT-IR

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ChargePoint

John Paolo Canton

Vice President, Communications

[email protected]

AJ Gosselin

Director, Corporate Communications

[email protected]

[email protected]

KEYWORDS: United States North America California New York

INDUSTRY KEYWORDS: Hardware Alternative Energy Construction & Property State/Local Energy Green Technology Alternative Vehicles/Fuels Technology EV/Electric Vehicles Environmental Policy Environment Public Policy/Government Urban Planning Automotive Software

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ChargePoint today announced the opening of five ultra-fast charging sites in upstate New York, supported by the New York State Energy Research and Development Authority (NYSERDA). (Photo: Business Wire)

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Rallybio Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Updates

— Key Data Readouts from Sentinel Participant in RLYB212 Phase 2 Clinical Trial Expected in 2Q 2025 and 3Q 2025 —

— Initiation of RLYB116 Confirmatory PK/PD Study Expected in 2Q 2025, with Data Anticipated in 2H 2025 —

— $65.5 Million in Cash, Cash Equivalents, and Marketable Securities as of December 31, 2024 Provides Runway into 2H 2026 —

NEW HAVEN, Conn.–(BUSINESS WIRE)–
Rallybio Corporation (Nasdaq: RLYB), a clinical-stage biotechnology company translating scientific advances into transformative therapies for patients with devastating rare diseases, today reported financial results for the fourth quarter and full year ended December 31, 2024, and provided an update on recent company developments.

“We are pleased with our strong execution in 2024, and look forward to reporting on our planned milestones in 2025,” said Stephen Uden, M.D., Chief Executive Officer of Rallybio. “Dosing in our RLYB212 Phase 2 trial is underway, our differentiated C5 inhibitor, RLYB116, is on track to enter a confirmatory pharmacokinetic/pharmacodynamic study in the second quarter, and our potentially best-in-class ENPP1 inhibitor for patients with hypophosphatasia, REV102, is advancing toward Phase 1 in 2026. Through exceptional execution of these programs and continued financial discipline, we are laser focused on driving value for Rallybio in 2025 and positioning the Company for sustained growth and success in the future.”

Recent Business Highlights and Upcoming Milestones:

RLYB212 Program

• In February 2025, Rallybio announced that the sentinel participant was dosed in the Phase 2 trial investigating RLYB212 in pregnant women at higher risk for HPA-1a alloimmunization and fetal and neonatal alloimmune thrombocytopenia (FNAIT). Pharmacokinetic (PK) and safety data from the second trimester are expected in the second quarter of 2025, with PK and safety data at the time of delivery expected in the third quarter of 2025. The Company received regulatory approval to begin the Phase 2 trial in October 2024 and initiated screening in November 2024.

• More than 14,300 pregnant women were screened in Rallybio’s FNAIT natural history study as of January 31, 2025, at which time screening was concluded at sites in the United States and Canada. Natural history data will continue to be collected in a sub-study of the Phase 2 trial, where participants at higher risk for HPA-1a alloimmunization and FNAIT who do not receive RLYB212 are eligible to enroll.

• Rallybio expects to present interim data from the FNAIT natural history study in mid-2025, including data evaluating the frequency of FNAIT risk across racial and ethnic populations.

RLYB116 Program

• In December 2024, Rallybio presented biomarker characterization analyses indicating that RLYB116 led to a meaningfully greater degree of complement inhibition in the Phase 1 multiple ascending dose (MAD) study than initially reported and as a result, may be effective in treating a broad range of complement-mediated diseases, including paroxysmal nocturnal hemoglobinuria (PNH), generalized myasthenia gravis (gMG), and antiphospholipid syndrome (APS).

• Rallybio plans to initiate a confirmatory clinical pharmacokinetic/pharmacodynamic (PK/PD) study in the second quarter of 2025, with data readouts from Cohorts 1 and 2 expected in the third and fourth quarter of 2025, respectively.

REV102 Program

• Rallybio advanced REV102, an ENPP1 inhibitor for the treatment of patients with hypophosphatasia (HPP), which is being developed through a joint venture with Recursion Pharmaceuticals.

• Investigational new drug application (IND)-enabling studies are underway to support the initiation of a Phase 1 study in 2026.

• Presentation of data evaluating REV102 in a preclinical model of later-onset HPP is expected in the second half of 2025.

RLYB332 Program

• In December 2024, Rallybio presented preclinical data for RLYB332 at the American Society for Hematology (ASH) annual meeting, which demonstrated that single intravenous injections of RLYB332 to humanized FcRn mice had rapid and sustained effects on PD parameters, including serum iron, unsaturated iron binding capacity (UIBC), and transferrin saturation (TSAT), with greater impact than those produced by comparator molecules.

• The favorable PD data relative to comparator molecules support RLYB332 as a long-acting, potentially best-in-class therapy for the treatment of diseases of iron overload.

Fourth Quarter and Full Year 2024 Financial Results

• Revenue: Revenue was $38 thousand for the fourth quarter of 2024 and $0.6 million for the year ended December 31, 2024, compared to no revenue in the same periods in 2023. The increase in revenue for both the fourth quarter of 2024 and the year ended December 31, 2024 was related to Rallybio’s entrance into the collaboration agreement with Johnson & Johnson in the second quarter of 2024 and the recognition of revenue related to the collaboration’s performance obligations.
• Research & Development (R&D) Expenses: R&D expenses were $7.4 million for the fourth quarter of 2024, compared to $15.9 million for the same period in 2023. R&D expenses were $41.5 million for the year ended December 31, 2024 compared to $53.5 million for the year ended December 31, 2023. The decrease in R&D expenses for both the fourth quarter of 2024 and the year ended December 31, 2024 was primarily due to a decrease in development costs related to RLYB212, RLYB116 and other program candidates, in addition to a decrease in payroll and personnel-related costs, largely related to the workforce reduction.
• General & Administrative (G&A) Expenses: G&A expenses were $4.3 million for the fourth quarter of 2024, compared to $5.2 million for the same period in 2023. G&A expenses were $19.6 million for the year ended December 31, 2024, compared to $25.4 million for the year ended December 31, 2023. The decrease in G&A expenses for both the fourth quarter of 2024 and the year ended December 31, 2024 was primarily due to a decrease in other general and administrative expenses including consulting fees, director and officer insurance premiums and professional fees, in addition to lower payroll and personnel-related costs, largely related to the workforce reduction and lower ongoing headcount in 2024 as compared to 2023.
  

• Net Loss and Net Loss Per Common Share: Rallybio reported a net loss of $11.0 million, or $0.25 per common share, for the fourth quarter of 2024 compared to a net loss of $20.2 million, or $0.50 per common share, for the same period in 2023. A net loss of $57.8 million, or $1.33 per common share, was reported for the year ended December 31, 2024 compared to a net loss of $74.6 million, or $1.84 per common share, for the year ended December 31, 2023.
• Cash Position: As of December 31, 2024, cash, cash equivalents, and marketable securities were $65.5 million. Rallybio expects these funds will be sufficient to support operations into the second half of 2026.

About Rallybio

Rallybio (NASDAQ: RLYB) is a clinical-stage biotechnology company with a mission to develop and commercialize life-transforming therapies for patients with severe and rare diseases. Rallybio has built a broad pipeline of promising product candidates aimed at addressing diseases with unmet medical need in areas of maternal fetal health, complement dysregulation, hematology, and metabolic disorders. The Company has two clinical stage programs: RLYB212, an anti-HPA-1a antibody for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT) and RLYB116, a C5 inhibitor with the potential to treat several diseases of complement dysregulation, as well as additional programs in preclinical development. Rallybio is headquartered in New Haven, Connecticut. For more information, please visit www.rallybio.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and currently available information. All statements, other than statements of historical facts contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements concerning the timing of disclosure of preliminary PK and safety data for the sentinel participant in the RLYB212 Phase 2 trial, presenting or disclosing interim data from the FNAIT natural history study and the timing of such disclosure, whether RLYB212 will be an effective therapeutic approach for FNAIT, the timing of initiating the RLYB116 confirmatory PK/PD study and the date when data is available, including data for Cohorts 1 and 2, whether RLYB116 will be effective in treating a broad range of complement-mediated diseases, the timing of initiation of IND-enabling activities for REV102, and the timing of data in a preclinical model of later-onset HPP. The forward-looking statements in this press release are only predictions and are based largely on management’s current expectations and projections about future events and financial trends that management believes may affect Rallybio’s business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, our ability to successfully initiate and conduct our planned clinical trials, including the RLYB116 confirmatory PK/PD study, and the Phase 2 trial for RLYB212, and complete such clinical trials and obtain results on our expected timelines, or at all, whether our cash resources will be sufficient to fund our operating expenses and capital expenditure requirements and whether we will be successful raising additional capital, our ability to enter into strategic partnerships or other arrangements, competition from other biotechnology and pharmaceutical companies, and those risks and uncertainties described in Rallybio’s filings with the U.S. Securities and Exchange Commission (SEC), including Rallybio’s Quarterly Report on Form 10-Q for the period ended September 30, 2024, and subsequent filings with the SEC. The events and circumstances reflected in our forward-looking statements may not be achieved or occur and actual future results, levels of activity, performance and events and circumstances could differ materially from those projected in the forward-looking statements. Except as required by applicable law, we are not obligated to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.

Financial Tables
RALLYBIO CORPORATION
SELECTED CONDENSED CONSOLIDATED FINANCIAL INFORMATION
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)
	FOR THE THREE MONTHS ENDED DECEMBER 31,								FOR THE YEAR ENDED DECEMBER 31,
(in thousands, except share and per share amounts)	2024				2023				2024				2023
Revenue:
Collaboration and license revenue	$	38			$	—			$	636			$	—
Total revenue		38				—				636				—
Operating expenses:
Research and development		7,385				15,924				41,507				53,544
General and administrative		4,261				5,188				19,625				25,388
Total operating expenses		11,646				21,112				61,132				78,932
Loss from operations		(11,608	)			(21,112	)			(60,496	)			(78,932	)
Other income:
Interest income		811				1,448				4,216				6,147
Other income		183				35				744				262
Total other income, net		994				1,483				4,960				6,409
Loss before equity in losses of joint venture		(10,614	)			(19,629	)			(55,536	)			(72,523	)
Loss on investment in joint venture		430				613				2,239				2,041
Net loss	$	(11,044	)		$	(20,242	)		$	(57,775	)		$	(74,564	)
Net loss per common share, basic and diluted	$	(0.25	)		$	(0.50	)		$	(1.33	)		$	(1.84	)
Weighted-average common shares outstanding, basic and diluted		44,660,619				40,639,567				43,544,824				40,447,388
Other comprehensive (loss) gain:
Net unrealized (loss) gain on marketable securities		(101	)			223				53				229
Other comprehensive (loss) gain		(101	)			223				53				229
Comprehensive loss	$	(11,145	)		$	(20,019	)		$	(57,722	)		$	(74,335	)

Condensed Consolidated Balance Sheets
(Unaudited)
	DECEMBER 31, 2024			DECEMBER 31, 2023
(in thousands)
Cash, cash equivalents and marketable securities	$	65,511		$	109,929
Total assets		68,108			115,620
Total liabilities		6,454			9,436
Total stockholders’ equity		61,654			106,184

 

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Investor Contacts

Samantha Tracy

Rallybio Corporation

(475) 47-RALLY (Ext. 282)

[email protected]

Kevin Lui

Precision AQ

(212) 698-8691

[email protected]

Media Contact

[email protected]

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Biotechnology General Health Health Pharmaceutical Clinical Trials

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KB Home Announces the Grand Opening of Its Newest Community in Mount Dora, Florida

Hillside at Mount Dora offers personalized, new homes in a desirable location near outdoor recreation and shopping and dining in downtown Mount Dora, priced from the $360,000s.

ORLANDO, Fla.–(BUSINESS WIRE)–
KB Home (NYSE: KBH), one of the largest and most trusted homebuilders in the U.S., today announced the grand opening of Hillside at Mount Dora, a new-home community in Mount Dora. These new homes are designed for the way people live today, with popular features like modern kitchens overlooking large great rooms, expansive bedroom suites with walk-in closets, and lofts. The community’s one- and two-story floor plans feature up to six bedrooms and four-and-a-half baths.

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What sets KB Home apart is the company’s focus on building strong, personal relationships with every customer, so they have a real partner in the homebuying process. Every KB home is uniquely built for each customer, so no two KB homes are the same. Homebuyers have the ability to personalize their new home, from floor plans to exterior styles to where they live in the community. Their home comes to life in the KB Home Design Studio, a one-of-a-kind experience where customers get both expert advice and the opportunity to select from a wide range of design choices that fit their style and their budget. Reflecting the company’s commitment to creating an exceptional homebuying experience, KB Home is the #1 customer-ranked national homebuilder based on homebuyer satisfaction surveys from a leading third-party review site.

“We are pleased to offer homebuyers in Central Florida spacious new one- and two-story homes near shopping and dining in downtown Mount Dora,” said Fred Wyborski, President of KB Home’s Orlando division. “Families will appreciate Hillside at Mount Dora’s proximity to a variety of outdoor recreation, including Wekiwa Springs State Park and popular lakes for fishing and boating. At KB Home, we’re here to help you achieve your dream with a personalized new home built uniquely for you and your life.”

Innovative design plays an essential role in every home KB builds. The company’s floor plans inspire contemporary living, with a focus on roomy, light-filled spaces that have easy indoor/outdoor flow. KB homes are engineered to be highly energy and water efficient and include features that support healthier indoor environments. They are also designed to be ENERGY STAR^® certified — a standard that fewer than 12% of new homes nationwide meet — offering greater comfort, well-being and utility cost savings than new homes without certification.

Hillside at Mount Dora is situated in a commuter-friendly location off Robie Avenue and convenient to US-441, Highway 429 and Highway 46. The community provides easy access to quaint historic downtown Mount Dora, known for its variety of antique and specialty shops, local dining and events, including the Mount Dora Spring Festival of Arts and Crafts, which is one of the top craft festivals in America. Residents will also enjoy Hillside at Mount Dora’s proximity to highly rated golf courses like Mount Dora Golf Club, Deer Island Country Club and Country Club of Mount Dora as well as Wekiwa Springs State Park and Kelly Park for fishing, swimming and hiking.

The Hillside at Mount Dora sales office and model homes are open for walk-in visits and private in-person tours by appointment. Homebuyers also have the flexibility to arrange a live video tour with a sales counselor. Pricing begins from the $360,000s.

For more information on KB Home, call 888-KB-HOMES or visit kbhome.com.

About KB Home

KB Home is one of the largest and most trusted homebuilders in the United States. We operate in 49 markets, have built nearly 700,000 quality homes in our more than 65-year history, and are honored to be the #1 customer-ranked national homebuilder based on third-party buyer surveys. What sets KB Home apart is building strong, personal relationships with every customer and creating an exceptional experience that offers our homebuyers the ability to personalize their home based on what they value at a price they can afford. As the industry leader in sustainability, KB Home has achieved one of the highest residential energy-efficiency ratings and delivered more ENERGY STAR® certified homes than any other builder, helping to lower the total cost of homeownership. For more information, visit kbhome.com.

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For Further Information:

Cara Kane, KB Home

321-299-6844

[email protected]

KEYWORDS: United States North America Florida

INDUSTRY KEYWORDS: Building Systems Environment Residential Building & Real Estate Construction & Property Sustainability

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KB Home announces the grand opening of Hillside at Mount Dora, a new-home community in Mount Dora. (Photo: Business Wire)

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Quantum Launches GO Refresh for DXi T-Series: A Simple, Subscription-Based Model for Scalable Data Protection and Unmatched Cyber Resilience

New model delivers seamless hardware refreshes, eliminating end-of-life concerns while enhancing cyber resilience, performance, and cost predictability

SAN JOSE, Calif.–(BUSINESS WIRE)–Quantum® Corporation (NASDAQ: QMCO) today announced the availability of Quantum GO Refresh™ for the DXi T-Series®, a program that provides flexible payment options and hardware refreshes to help customers immutably protect and quickly recover mission-critical data and IT infrastructure to overcome the ever-present threat of ransomware and other cyber-attacks. Quantum GO Refresh, a new offering within the Quantum GO™ portfolio, offers a turnkey subscription model paid quarterly or annually for Quantum’s DXi® all-flash T-Series backup appliances that includes the typical hardware, software, and support that Quantum customers have come to expect and adds a new dimension of ongoing hardware refreshes as the solution ages. This makes it easy for customers to deploy backup and data protection solutions that reduce upfront costs under a simple “everything included” subscription model and enables aggressive adoption of all-flash data protection and fast recovery across organizations of all sizes.

“With Quantum GO Refresh for DXi T-Series, we’re making enterprise-grade data protection and cyber resilience more accessible and predictable with a low-cost, yet powerful, future-proof solution,” said Willem Dirven, chief customer officer for Quantum. “By offering a simple subscription model that includes hardware refreshes, customers can focus on their business priorities without worrying about upfront investments or unexpected costs as hardware platforms go end of service. This is a game-changer for organizations looking to enhance cyber resilience with a flexible, cost-effective, forever-ready solution.”

Traditional data protection methods have been highly reliant on low-cost cloud storage and HDD-based backup targets that are storage-inefficient, limit data accessibility, and result in slow restore times exactly when data recovery is most urgent. Further, deployments are hampered by significant capital outlays and unpredictable networking and egress costs. Quantum GO Refresh for DXi T-Series simplifies DXi T-Series procurement, deployment, and ongoing hardware maintenance, enabling on-premises, pay-as-you-go solutions that provide high-performance access and fast recovery of immutable data copies stored on local, all-flash DXi T-Series systems. The new Quantum GO Refresh for DXi gives customers the convenience of unlimited software and hardware refreshes under a subscription model, so organizations can focus on scaling their business without having to worry about hardware and software renewals.

Key benefits for Quantum GO Refresh for DXi T-Series:

• Forever Ready
  
  Quantum GO Refresh for DXi T-Series subscriptions are easily extended and include continuing software upgrades. Plus, when installed hardware reaches end-of-service life, hardware is refreshed to the latest generation platform.
• Pay-As-You-Grow
  
  Choose the length of term and initial capacity to get started, then pay-as-you-go on an annual or quarterly basis for a true OPEX model experience, expanding capacity as needed.
• Bundled, Turnkey Solution
  
  Simple subscription model for the all-flash DXi T-Series that includes hardware, software, and support.
• Flexible and Configurable
  
  Customers can add additional services including installation, data migration, and solution management for easy periodic payments of these services.
• Security Your Way
  
  Gain better control and security over data – the solution is installed in the customer’s data center within the customer network and customer security policies.
• Up to 70x More Data Stored
  
  Quantum’s industry-leading deduplication technology delivers up to 70x* the data storage on disk vs. a non-deduplication system, with no access or egress fees for the on-premises solution.
• Diverse ecosystem support
  
  DXi T-Series are Veeam® Ready/Veeam Integrated and compatible with a broad range of additional backup software solutions

Quantum GO Refresh is available now for the DXi T-Series through Quantum’s worldwide network of resellers. Agreement terms range from 3 to 5 years, with either quarterly or annual payments. The program will be extended to other Quantum solutions later this year. For more information on Quantum GO, including GO Refresh for DXi T-Series, please visit https://www.quantum.com/go.

*Deduplication rates are variable based on data type.

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 Statements

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 (“Exchange Act”). 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 about the anticipated benefits and features of Quantum GO and Quantum GO Refresh as well as our business prospects, changes and trends in our business and the markets in which we operate.

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: the potential impact of the COVID-19 pandemic 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; whether the market for Quantum GO and Qua develops as anticipated and whether our products meet the developing needs of this market; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and any subsequent filings 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 or regulation.

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Media Contact:

Sara Beth Fahey

Matter Communications

[email protected]

401.351.9507

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Security Hardware Data Management Technology Software

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Accenture Invests in OPAQUE to Advance Confidential AI and Data Solutions

NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)–
Accenture (NYSE: ACN) has made a strategic investment in OPAQUE, a provider of a confidential AI platform that empowers organizations to run cloud-scale, general purpose AI workloads using encrypted data and governed data sharing, with a focus on privacy, sovereignty and compliance. This investment, made through Accenture Ventures, underscores Accenture’s commitment to accelerating AI adoption by helping enterprises securely unlock the full value of sensitive data.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250313747826/en/

A recent survey by Accenture of 2,300 business leaders found that nearly all (97%) said they believe that generative AI is a “game-changing” technology worthy of long-term investment. However, 48% said their organizations lacked enough high-quality data to operationalize their generative AI initiatives.

In addition to this investment, Accenture also intends to embed OPAQUE’s confidential AI platform into the Accenture AI Refinery and Accenture’s Trusted Data Services. This combined offering will help enterprises scale AI innovations with confidence, ensuring increased compliance and security without compromising data utility. OPAQUE’s technology removes common barriers to enterprise AI so that enterprises can use sensitive data without exposure risk and run AI workloads with full regulatory compliance and verifiable audit trails.

“AI is only as good as the data it learns from, but privacy concerns have held businesses back from fully using more sensitive datasets,” said Teresa Tung, global lead of Data Capability, Accenture. “OPAQUE’s confidential AI platform helps businesses deploy AI agents that operate within confidential environments while maintaining data integrity and compliance. It’s about building trust with customers and unlocking a new era where AI can operate at scale, securely and responsibly.”

Working together, Accenture and OPAQUE will help enterprises use their most valuable and sensitive data for AI-driven insights, aiding the development of AI-powered customer intelligence, autonomous decision-making, and operational efficiency—all without sacrificing security. Enterprises can more rapidly deploy analytics, ML, and AI agents that can operate within confidential environments and execute complex workflows.

“OPAQUE is unlocking the power of data that has been locked away for too long. Enterprises can finally move fast without breaking security,” said Aaron Fulkerson, CEO of OPAQUE. “As a leader in enterprise AI deployments, Accenture understands this better than anyone and is at the forefront of the charge to bring AI to enterprises safely and effectively.”

“The future of AI will be built on privacy and trust, and our investment in OPAQUE is a pivotal move as we recognize the immense value in confidential AI platforms,” said Tom Lounibos, global lead, Accenture Ventures. “OPAQUE’s technology aligns with our vision for responsible innovation. This investment and collaboration will boost our focus on bringing transformative solutions to market that allow businesses to harness the full power of data without compromising privacy.”

OPAQUE will also join Accenture Ventures’ Project Spotlight, a vertical accelerator for data and AI companies. Project Spotlight offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups harness creativity and deliver on the promise of their technology.

Terms of the investment were not disclosed.

About Accenture

Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with 799,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. Our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at accenture.com.

About OPAQUE

OPAQUE is a confidential AI platform developed by world-renowned researchers at the Berkeley RISELab. The platform empowers organizations to run cloud-scale, general-purpose AI workloads on encrypted data, supporting popular languages and frameworks such as Python and Spark. OPAQUE enables governed data sharing with cryptographic verification of privacy and sovereignty, allowing customers to deploy high-performance AI and innovate more efficiently.

Copyright © 2025 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

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Julie Bennink

Accenture

+1 312 693 7301

[email protected]

LaunchSquad for OPAQUE

[email protected]

KEYWORDS: United States North America California New York

INDUSTRY KEYWORDS: Software Networks Consulting Artificial Intelligence Data Management Professional Services Technology Security

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Accenture has made a strategic investment in OPAQUE, a provider of a confidential AI platform that empowers organizations to run cloud-scale, general purpose AI workloads using encrypted data and governed data sharing, with a focus on privacy, sovereignty and compliance. (Graphic: Business Wire)