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Palo Alto Networks Bolsters SASE Capabilities for Modern Workplace

PR Newswire

Unveils Prisma Access Browser 2.0, the world’s only SASE-native secure browser, perfect for the perimeterless, cloud-first world


SANTA CLARA, Calif.
, April 28, 2025 /PRNewswire/ — Palo Alto Networks® (NASDAQ: PANW), the global cybersecurity leader, today announced its latest advancements in Prisma® SASE, the industry’s most comprehensive secure access service edge (SASE) solution, including the unveiling of Prisma Access Browser 2.0, the world’s only SASE-native secure browser. Prisma Access Browser 2.0, along with Endpoint Data Loss Prevention (DLP) and expanded cloud presence with Oracle Cloud Infrastructure (OCI), are new Prisma SASE capabilities designed to secure generative AI (GenAI) usage, improve user experience and enhance operational resilience in the modern workplace.


Eighty-five percent
 of work today is happening in browsers, leading to potential data exposure and monitoring gaps. Palo Alto Networks 2025 Unit 42 Incident Report found that almost half (44%) of security incidents involved malicious activities initiated or enabled through employees’ browsers, such as phishing, URL redirect abuse and malware downloads.

“A secure browser extends SASE protection to where knowledge workers spend most of their time, securing third-party access, supporting BYOD, and reducing an organization’s reliance on legacy infrastructure like VDI,” said John Grady, principal analyst at Enterprise Strategy Group, now part of Omdia. “Palo Alto Networks unique approach of integrating its Prisma Access Browser with Prisma SASE helps organizations extend the same protection from advanced threats, user experience monitoring, and GenAI app protection from the network into the browser, ensuring users are protected, efficient, and productive.”

Uniquely the combination of Prisma SASE with Prisma Access Browser delivers safe, fast, policy-driven access to everything the modern workforce needs — without compromising experience or security. To further enable enterprises to browse securely from any device or any location, Prisma Access Browser 2.0 includes the following new capabilities:

  • Safely enabling GenAI use and protecting data in real time: Prisma Access Browser 2.0 now helps secure GenAI adoption with real-time visibility, access control and user coaching to accurately secure sensitive data at the last mile (e.g., clipboard, print, screenshots, typing), with LLM-powered context-based classification preventing unintentional leaks or breaches.
  • Defending against new sophisticated web attacks: Prisma Access Browser 2.0 delivers new protection powered by Precision AI® to detect evasive and targeted attacks such as AI-generated cloaking and SaaS-hosted phishing attacks in real time. This includes attacks such as evasive AI-generated code and malicious injections into compromised websites, which cannot be reliably detected outside of the browser.
  • Delivering a reimagined user experience: Prisma Access Browser 2.0 delivers maximum performance for modern web and SaaS applications, yet still provides users with the ability to easily launch legacy infrastructure such as VDI applications from the same browser for a unified experience.

“In the AI-first era, safeguarding customer data and intellectual property is paramount,” said Aathir Ahad, CISO, Wipro Limited. “Prisma Access Browser aligns with our Zero Trust strategy and our commitment to leveraging advanced technologies for rapid threat prevention, enhanced user experience, and robust data & privacy protection.”

“Secure browsers are absolutely essential for the modern workforce because today’s work is increasingly remote, cloud-based, and data-intensive,” said Anand Oswal, SVP and GM of Network Security, Palo Alto Networks. “This shift demands a unified, modern approach to security — a SASE natively integrated secure browser — that uniquely safeguards productivity, helps ensure resilience, and does so with a seamless user experience, making it the optimal choice for securing today’s dynamic work environments.”

Additional new advanced features to Palo Alto Networks Prisma SASE include:

  • Endpoint Data Loss Prevention (DLP) — to improve shadow data discovery and data classification accuracy as well as provide proactive measures against insider threats to safeguard sensitive information.
  • Extend App Acceleration to Branch — to expand support for new productivity apps and extend enhanced user-to-app performance to the branch with integration into Prisma SD-WAN.
  • Next-Generation Unified SASE Agent — to simplify the IT experience with a unified, next-generation agent for SASE use cases.
  • Oracle Cloud Infrastructure (OCI) — to broaden the global reach of Prisma SASE and build on the ability to deliver cloud resiliency and industry-leading uptime.

“Our long-standing collaboration with Palo Alto Networks helps organizations across the world securely accelerate their cloud journey,” said Karan Batta, senior vice president, Oracle Cloud Infrastructure. “By leveraging OCI to run Prisma SASE globally, Palo Alto Networks can provide its customers with operational resiliency, high performance, and an exceptional user experience. In addition, Prisma SASE helps our customers protect their OCI environments against emerging and sophisticated cyber threats.”

Join Palo Alto Networks Chairman and CEO Nikesh Arora for a live virtual event: “Hello Tomorrow,” and discover what’s next in AI and cybersecurity.

The announced new SASE features will be generally available in Q4 FY25. Learn more about these and other industry-leading SASE innovations, and register to attend InterSECt 2025 from June 24-26.

Follow Palo Alto Networks on X (formerly Twitter), LinkedIn, Facebook and Instagram.

About Palo Alto Networks
As the global cybersecurity leader, Palo Alto Networks (NASDAQ: PANW) is dedicated to protecting our digital way of life via continuous innovation. Trusted by organizations worldwide, we provide comprehensive AI-powered security solutions across network, cloud, security operations and AI, enhanced by the expertise and threat intelligence of Unit 42. Our focus on platformization allows enterprises to streamline security at scale, ensuring protection fuels innovation. Discover more at www.paloaltonetworks.com.

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

This press release contains forward-looking statements that involve risks, uncertainties and assumptions, including, without limitation, statements regarding the benefits, impact, or performance or potential benefits, impact or performance of our products and technologies or future products and technologies. These forward-looking statements are not guarantees of future performance, and there are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including, without limitation: developments and changes in general market, political, economic, and business conditions; risks associated with managing our growth; risks associated with new products and subscription and support offerings; shifts in priorities or delays in the development or release of new offerings, or the failure to timely develop, release and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support offerings; failure of our business strategies; rapidly evolving technological developments in the market for security products and subscription and support offerings; our customers’ purchasing decisions and the length of sales cycles; our competition; our ability to attract and retain new customers; and our ability to acquire and integrate other companies, products, or technologies.  We identify certain important risks and uncertainties that could affect our results and performance in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q, and our other filings with the U.S. Securities and Exchange Commission from time-to-time, each of which are available on our website at investors.paloaltonetworks.com and on the SEC’s website at www.sec.gov.  All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

 

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SOURCE Palo Alto Networks, Inc.

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GE HealthCare management to present at upcoming investor conferences

GE HealthCare management to present at upcoming investor conferences

CHICAGO–(BUSINESS WIRE)–
GE HealthCare (Nasdaq: GEHC) is announcing that members of its management team will present at the following upcoming investor conferences.

  • Bank of America Securities Healthcare Conference in Las Vegas, NV – May 13, 2025 at 10:00 am CT / 11:00 am ET
  • Goldman Sachs 46th Annual Global Healthcare Conference in Miami, FL – June 10, 2025 at 9:00 am CT / 10:00 am ET

Webcasts of these events can be accessed at the GE HealthCare website: https://investor.gehealthcare.com/news-events/events on the dates and times listed above.

About GE HealthCare Technologies Inc.

GE HealthCare is a trusted partner and leading global healthcare solutions provider, innovating medical technology, pharmaceutical diagnostics, and integrated, cloud-first AI-enabled solutions, services and data analytics. We aim to make hospitals and health systems more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 125 years, GE HealthCare is advancing personalized, connected and compassionate care, while simplifying the patient’s journey across care pathways. Together, our Imaging, Advanced Visualization Solutions, Patient Care Solutions and Pharmaceutical Diagnostics businesses help improve patient care from screening and diagnosis to therapy and monitoring. We are a $19.7 billion business with approximately 53,000 colleagues working to create a world where healthcare has no limits.

GE HealthCare is proud to be among 2025 Fortune World’s Most Admired Companies™.

Follow us on LinkedIn, X, Facebook, Instagram, and Insights for the latest news, or visit our website https://www.gehealthcare.com for more information.

GE HealthCare Investor Contact:

Carolynne Borders

(631) 662-4317

[email protected]

GE HealthCare Media Contact:

Jennifer Fox

(414) 530-3027

[email protected]

KEYWORDS: United States North America Nevada Illinois Florida

INDUSTRY KEYWORDS: Technology Biotechnology Health Radiology Pharmaceutical Professional Services Practice Management Medical Devices Software Managed Care General Health Data Analytics Health Technology Data Management

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Palo Alto Networks Introduces Prisma AIRS: the Foundation on which AI Security Thrives

PR Newswire

The world’s most comprehensive AI security platform designed to protect the entire AI ecosystem — Apps, agents, models, and data


SANTA CLARA, Calif.
, April 28, 2025 /PRNewswire/ — Palo Alto Networks® (NASDAQ: PANW), the world’s leading AI cybersecurity company, today announced Prisma AIRS™, a groundbreaking AI security platform that serves as the cornerstone for robust AI protection, designed to protect the entire enterprise AI ecosystem – AI apps, agents, models, and data – at every step. Building upon the company’s Secure AI by Design portfolio launched last year, Prisma AIRS enables customers to deploy AI bravely and addresses the critical need for robust security in the face of rapid AI adoption across enterprises.

Enterprises are rapidly embracing AI, deploying AI apps and LLMs in nearly every function, from customer support to code generation, driving innovation but also introducing security blind spots, risk, and vulnerabilities. To more effectively protect AI initiatives and prevent security incidents, organizations need a comprehensive AI security platform. Using best-in-class security to protect the entire AI ecosystem, Prisma AIRS empowers organizations to deploy AI confidently knowing that whatever they build is secure.

Capabilities of Prisma AIRS include:

  • AI Model Scanning: Enable safe adoption of AI models by scanning them for vulnerabilities. Secure your AI ecosystem against risks such as model tampering, malicious scripts and deserialization attacks.
  • Posture Management: Gain insight into security posture risks associated with your AI ecosystem such as excessive permissions, sensitive data exposure, platform misconfigurations, access misconfigurations and more.
  • AI Red Teaming: Uncover potential exposure and lurking risks before bad actors do. Perform automated penetration tests on your AI apps and models using our Red Teaming agent that stress tests your AI deployments, learning and adapting like a real attacker.
  • Runtime Security: Protect your LLM-powered AI apps, models and data against runtime threats such as prompt injection, malicious code, toxic content, sensitive data leak, resource overload, hallucination, and more.
  • AI Agent Security: Secure agents — including those built on no-code/low-code platforms — against new agentic threats such as identity impersonation, memory manipulation, and tool misuse.


Lee Klarich, Chief Product Officer for Palo Alto Networks:

“AI agents and apps are transforming the way we work and live. In parallel, the attack surface isn’t just expanding, it’s fundamentally changing. The last thing organizations need is more point products to secure their use of AI. Organizations need best-in-class security delivered via the right architecture – platformization is that architecture. Prisma AIRS addresses both traditional and AI specific threats with best-in-class security capabilities delivered in a comprehensive, unified AI security platform that enables organizations to deploy AI bravely.”


Anand Oswal, SVP and GM, Palo Alto Networks

“As organizations integrate AI into every aspect of their operations, securing it requires a runtime security platform that provides continuous visibility and real-time insight. Without this, security teams are left in the dark about how AI is being used, misused, or manipulated, which puts critical data and decisions at risk. Prisma AIRS empowers teams with answers to essential questions, like whether someone is exploiting an LLM to extract sensitive information or if a compromised API is feeding the model poisoned data. These insights are vital to maintaining trust and safeguarding AI.”

Prisma AIRS will be strategically enhanced by the company’s recently announced intent to acquire Protect AI, an innovative leader in securing the use of AI. The acquisition of Protect AI is subject to customary closing conditions and is expected to close by our first quarter of fiscal 2026.

To learn more about Prisma AIRS, and what’s next in AI security from Palo Alto Networks, register to attend the “Hello Tomorrow” livestream event on Tuesday, April 29, 2025 at 2:30PM PT.

Follow Palo Alto Networks on X (formerly Twitter), LinkedIn, Facebook and Instagram.

About Palo Alto Networks

As the global cybersecurity leader, Palo Alto Networks (NASDAQ: PANW) is dedicated to protecting our digital way of life via continuous innovation. Trusted by organizations worldwide, we provide comprehensive AI-powered security solutions across network, cloud, security operations and AI, enhanced by the expertise and threat intelligence of Unit 42. Our focus on platformization allows enterprises to streamline security at scale, ensuring protection fuels innovation. Discover more at www.paloaltonetworks.com. 

Palo Alto Networks, Prisma, Prisma AIRS, AI Runtime Security, and the Palo Alto Networks logo are trademarks of Palo Alto Networks, 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.

This press release contains forward-looking statements that involve risks, uncertainties and assumptions, including, without limitation, statements regarding the benefits, impact, or performance or potential benefits, impact or performance of our products and technologies or future products and technologies. These forward-looking statements are not guarantees of future performance, and there are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including, without limitation: developments and changes in general market, political, economic, and business conditions; risks associated with managing our growth; risks associated with new products and subscription and support offerings; shifts in priorities or delays in the development or release of new offerings, or the failure to timely develop, release and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support offerings; failure of our business strategies; rapidly evolving technological developments in the market for security products and subscription and support offerings; our customers’ purchasing decisions and the length of sales cycles; our competition; our ability to attract and retain new customers; and our ability to acquire and integrate other companies, products, or technologies.  We identify certain important risks and uncertainties that could affect our results and performance in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q, and our other filings with the U.S. Securities and Exchange Commission from time-to-time, each of which are available on our website at investors.paloaltonetworks.com and on the SEC’s website at www.sec.gov.  All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

 

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SOURCE Palo Alto Networks, Inc.

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Palo Alto Networks Announces Intent to Acquire Protect AI, a Game-Changing Security for AI Company

PR Newswire

The acquisition will enable secure pursuit of AI innovation with confidence by helping customers discover, manage, and protect against AI-specific security risks—securing AI end to end from development to runtime.


SANTA CLARA, Calif.
, April 28, 2025 /PRNewswire/ — Palo Alto Networks® (NASDAQ: PANW), the global cybersecurity leader, today announced that it has entered into a definitive agreement to acquire Protect AI, an innovative leader in securing the use of Artificial Intelligence (AI) and Machine Learning (ML) applications and models. This strategic acquisition reflects Palo Alto Networks’ commitment to remaining at the forefront of next-generation cybersecurity innovation, and expanding its capabilities to protect the dynamic new attack surface created by the explosion of AI.

Large enterprises and government organizations are building a complex ecosystem of AI models, agents, infrastructure, tools, APIs and third party components. This creates new and often overlooked risks, with threat actors exploiting vulnerabilities in different layers through techniques like model manipulation, data poisoning and prompt injection attacks. This threat landscape requires purpose-built solutions to reduce risk and provide best-in-class security. Palo Alto Networks was an early mover in building out solutions for securing AI, and Protect AI has already established itself as an important player in this increasingly critical new area of security.

After the close of the transaction, Protect AI’s solutions and team of experts will enable Palo Alto Networks to more quickly and comprehensively accelerate its vision for Prisma AIRS™, the industry’s most complete AI security platform, also announced today. Prisma AIRS will offer customers unparalleled protection for one of the most transformative technologies of our time. As organizations explore embedding AI in their processes, Prisma AIRS will enable them to deploy AI bravely by protecting the entire AI development lifecycle to meet enterprise requirements for model scanning, risk assessment, GenAI runtime security, posture management, and AI agent security.


Anand Oswal, SVP and GM, Palo Alto Networks

“As AI-powered applications become core to businesses, they bring risks traditional security tools can’t adequately handle. By extending our AI security capabilities to include Protect AI’s innovative solutions for Securing for AI, businesses will be able to build AI applications with comprehensive security. With the addition of Protect AI’s existing portfolio of solutions and team of experts, Palo Alto Networks will be well-positioned to offer a wide range of solutions for customers’ current needs, and also be able to continue innovating on delivering new solutions that are needed for this dynamic threat landscape.”


Ian Swanson, Co-Founder & CEO, Protect AI

“Joining forces with Palo Alto Networks will enable us to scale our mission of making the AI landscape more secure for users and organizations of all sizes. We are excited for the opportunity to unite with a company that shares our vision and brings the operational scale and cybersecurity prowess to amplify our impact globally.”

Protect AI CEO, founders, and employees are expected to join Palo Alto Networks once the deal closes. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close by Palo Alto Networks’ first quarter of fiscal 2026.

To learn more about Protect AI and Prisma AIRS, and what’s next in AI security from Palo Alto Networks, register to attend the “Hello Tomorrow” livestream event on Tuesday, April 29, 2025 at 2:30PM PT.

Follow Palo Alto Networks on Twitter, LinkedIn, Facebook and Instagram.

About Palo Alto Networks

As the global cybersecurity leader, Palo Alto Networks (NASDAQ: PANW) is dedicated to protecting our digital way of life via continuous innovation. Trusted by organizations worldwide, we provide comprehensive AI-powered security solutions across network, cloud, security operations and AI, enhanced by the expertise and threat intelligence of Unit 42. Our focus on platformization allows enterprises to streamline security at scale, ensuring protection fuels innovation. Discover more at www.paloaltonetworks.com. 

Palo Alto Networks, Prisma AIRS, and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States or in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners. Any unreleased services or features (and any services or features not generally available to customers) referenced in this or other press releases or public statements are not currently available (or are not yet generally available to customers) and may not be delivered when expected or at all. Customers who purchase Palo Alto Networks applications should make their purchase decisions based on services and features currently generally available.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions, including, but not limited to, statements regarding the anticipated benefits and impact of the proposed acquisition on Palo Alto Networks and its customers. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including, but not limited to: the effect of the announcement of the proposed acquisition on the parties’ commercial relationships and workforce; the ability to satisfy the conditions to the closing of the acquisition; the ability to consummate the proposed acquisition on a timely basis or at all; the ability of Palo Alto Networks to integrate Protect AI’s technology, operations and business; developments and changes in general market, political, economic, and business conditions; failure of our product offerings; failure to achieve the expected benefits of our acquisitions; risks associated with managing our growth; risks associated with new product, subscription and support offerings, including our efforts to leverage AI; shifts in priorities or delays in the development or release of new offerings, or the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products, subscriptions and support offerings; failure of our business strategies; rapidly evolving technological developments in the market for security products, subscriptions and support offerings; defects, errors, or vulnerabilities in our products, subscriptions or support offerings; our customers’ purchasing decisions and the length of sales cycles; our competition; our ability to attract and retain new customers; our ability to acquire and integrate other companies, products, or technologies in a successful manner; our debt repayment obligations; and our share repurchase program, which may not be fully consummated or enhance shareholder value, and any share repurchases which could affect the price of our common stock.

Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Quarterly Report on Form 10-Q filed with the SEC on February 14, 2025, which is available on our website at investors.paloaltonetworks.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

 

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SOURCE Palo Alto Networks, Inc.

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Heritage Distilling Co. Reports Full Year 2024 Financial Results

Company achieves EBITDA exceeding $4.5 million and profitability with net income exceeding $0.7 million, or $0.05 per share, for full year 2024

Heritage reported Q4 2024 topline revenue increased 26.4% versus Q4 2023, eclipsing $3 million

Heritage reported 5.4% year over year revenue growth

GIG HARBOR, Wash., April 28, 2025 (GLOBE NEWSWIRE) —  Heritage Distilling Company, Inc. (“HDC” or “Heritage” or the “Company”) (Nasdaq: CASK), a leading craft distiller of innovative premium brands, today reported its full year 2024 financial results for the twelve-month period ended December 31, 2024.

“2024 was a transformative year for Heritage. We successfully transitioned from a private company to a publicly traded company with our IPO in November, marking our debut on Nasdaq. This move strengthened our balance sheet, significantly reduced our liabilities, and put us in a position to grow significantly. I’m proud to report that we achieved positive EBITDA and net income for the first time in the Company’s history and increased our revenue year-over-year,” said Heritage Distilling co-founder and CEO, Justin Stiefel.

“We operate in the rapidly growing craft spirits segment of the $288 billion spirits market. In addition to our financial progress, we expanded into new markets last year including Colorado, Kentucky, and Oklahoma, launched new products, and continued our support for non-profits and charities. With a reach in 47 states, we plan to keep extending our growth through online direct-to-consumer sales and via Company-owned and co-located tasting rooms, as well as through our Tribal Beverage Network (TBN).

“With a solid financial foundation from which to build, Heritage is poised for continued expansion in 2025, with preliminary first quarter 2025 results already looking promising. We have also identified more than $1 million in annualized cost reductions already being put into place in 2025 as we work to get more efficient and preserve cash while focusing our resources on profitable growth.”

Full Year 2024 Financial Highlights

  • EBITDA: $4,539,962 for 2024 compared to $(32,834,439) for 2023
  • Net income: $710,458 – This is the first time the Company has achieved profitability
  • Net income per share: $0.05 per share
  • Revenue: Best topline revenue since COVID-19 pandemic, up 5.4% year over year, increasing $431,264 to $8,402,488 for 2024 compared to $7,971,224 in 2023.
  • Gross profit: $2,125,847
  • Total liabilities: Reduced by $42,482,429 year over year
  • Adjusted gross margin excluding unabsorbed overhead: 55.6% for 2024 compared to 54.8% for 2023
  • Cash based operating expenses reduced by $1.1 million in 2024 vs 2023
  • Q4 2024 gross revenue of $3,092,581 versus $2,445,840 for Q4 2023, an increase of 26.4%

Company Achievements Announced for 2024 and Q1 2025

  • Added three new board members with substantial public company leadership credentials:
    • Troy Alstead – 24-year veteran of Starbucks as CFO and COO; currently director for Harley-Davidson, Levi-Strauss, Array Technologies, OYO Global and RASA Indian Grill.
    • Andrew Varga – 23-year veteran of Brown-Forman as CMO and CMO of Papa John’s International
    • Matt Swann – 10-year VP at Amazon, CTO at Booking.com, CIO for Citibank and currently a director at Payfare Inc. and Thredd Payments.
  • Expanded wholesale distribution into Kentucky, Oklahoma and Colorado
  • Opened new Tribal Beverage Network “HDC” branded tasting room at the Angel of the Winds Casino and broke ground on two more new locations with Tribes in Oregon and Arizona
  • Saw its Cocoa Bomb chocolate whiskey win “World’s Best Flavored Whiskey” from Whiskey Magazine
  • Launched several new labels under its Salute Series brand, generating more than $2.4 million in retail sales since its launch, with more than 87% of it being sold through its high margin Direct to Consumer (DtC) channel, while raising more than $200,000 for military and first responder charities
  • Q1 2025 sales of the Salute Series surpassing Q4 2024 sales via DtC channel
  • Additional annualized expense reductions greater than $1 million being implemented for 2025

Full Year 2024 Financial Results

The Company reported net sales of approximately $8,402,488 and $7,971,224 for the years ended December 31, 2024, and 2023, respectively, an increase of approximately $431,264, or 5.4%, period over period. The increase in net sales resulted primarily from an increase in product sales of $1,478,451, or 28.8%, to $6,614,933 for the year ended December 31, 2024, compared to $5,136,482 for the year ended December 31, 2023, due mainly to the launch of the Special Operations Services product line in November 2023.

The Company reported a positive EBITDA of $4,539,962 for 2024 compared to an EBITDA of $(32,834,439) for 2023. The Company reported net income of approximately $710,458 or $0.05 per share for the year ended December 31, 2024, compared to a net loss of $(36,798,419), or $(96.45) per share for the year ended December 31, 2023. $18,185,869 of 2024 net income and $(23,005,013) of 2023 net loss stemmed from the (increase)/decrease in fair value of certain convertible notes, warrants and contingencies, and gain on investment. The Company expects to incur operating losses and higher operating expenses for the foreseeable future as it continues to invest in inventory, digital marketing to support its online DtC sales of its high margin Salute Series line of super premium whiskeys, and the overall growth of the business.

2024 operating expenses on a cash basis (excluding expenses related to non-cash share-based RSU grant awards) were reduced by $1,065,803 compared to cash expenses for 2023 as the Company worked towards streamlining operations, exiting certain low margin contracts and third-party production efforts, instead focusing on higher margin products and services. In particular, cash-based sales and marketing expenses were reduced by $629,271 as the Company put more focus on its online DtC model, featuring its high margin Salute Series line of super premium whiskeys honoring active duty and retired military and first responders and their families. Cash based general and administrative expenses were reduced by $437,048 as the Company completed its initial public offering in November 2024.

The Company noted reductions in liabilities of nearly $42.5 million year over year as a result of the closing of its IPO and the reclassification of the fair values of convertible notes and related warrant liabilities to stockholders’ equity. The overall reduction in liabilities also included a paydown of $8,465,877 in long term and short-term debt and other obligations through December 31, 2024.

The Company noted it ended 2024 with strong sales of $3.1 million for the 4th quarter, improving sales by $0.6 million over 4th quarter 2023, an increase of 26.4%.

The Company announced in February 2025 that it formalized a $15,000,000 equity line of credit, giving it access to more capital to help sustain and accelerate its growth. Management has identified more than $1,000,000 in annualized expense reductions slated for elimination in 2025 on top of the more than $1.0 million in expense reductions already realized in 2024 as the Company works to get more efficient, preserve cash and focus on products and activities leading to sustained profitability.

Financial Results

Additional information with respect to the Company’s business, operations and financial condition for the year ended December 31, 2024 is contained in the Company’s Annual Report on Form 10-K, which has been filed with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.

Use of Non-GAAP Measures

Heritage Distilling’s management evaluates and makes operating decisions using various financial metrics. In addition to the Company’s GAAP results, management also considers the non-GAAP measures of EBITDA, Adjusted EBITDA and Adjusted Gross Margin excluding unabsorbed overhead as supplements to GAAP results. Management believes these non-GAAP measures provide useful information about the Company’s operating results and assists investors in comparing the Company’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance.

The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. The Company defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, expenses related to equity-based compensation and other one-time items. The Company defines Adjusted Gross Margin excluding unabsorbed overhead as GAAP gross profit adjusted for (excluding) unabsorbed overhead. The final tables below provide a reconciliation of these non-GAAP financial measures with the most directly comparable GAAP financial measure.

About Heritage Distilling Company, Inc.

Heritage is among the premier independent craft distilleries in the United States offering a variety of whiskeys, vodkas, gins, rums and ready-to-drink canned cocktails. Heritage has been North America’s most awarded craft distillery by the American Distilling Institute for ten consecutive years out of the more than 2,600 craft producers. Beyond this remarkable achievement, Heritage has also garnered numerous Best of Class, Double Gold, and Gold medals at esteemed national and international spirits competitions. As one of the largest craft spirits producers on the West Coast by revenue, the company is expanding its presence nationwide through a diverse range of sales channels, including wholesale, on-premises venues, e-commerce and the innovative Tribal Beverage Network (TBN). The TBN initiative, a groundbreaking collaboration with Native American tribes, focuses on developing Heritage-branded distilleries, unique tribal brands and tasting rooms tailored to tribal communities. By serving patrons of tribal casinos and entertainment venues, the TBN creates meaningful economic and social benefits for participating tribes, while providing an additional avenue for tribes to exercise and strengthen their sovereignty. This unique partnership reflects Heritage’s commitment to innovation, community engagement and sustainable growth.

Forward-Looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding current or anticipated results, anticipated growth, or benefits anticipated from the Company’s plans or results.

Any forward-looking statements in this press release are based on Heritage’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks of slowing growth for its online eCommerce sales, interruptions in that market segment, or the availability and pricing of bulk bourbon for its products. These and other risks concerning Heritage’s programs and operations are described in additional detail in its registration statement on Form S-1, and its quarterly 10-Q and annual 10-K filings, which are on file with the SEC. Heritage explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

Investor Contact        
(800) 595-3550
[email protected]

Financial Summary Tables

The following financial information should be read in conjunction with the audited financial statements and accompanying notes filed by the Company with the Securities and Exchange Commission on Form 10-K for the period ended December 31, 2024, which can be viewed at www.sec.gov and in the investor relations section of the Company’s website at ir.heritagedistilling.com.

Heritage Distilling Holding Company, Inc.
Consolidated Balance Sheets
  As of December 31,
    2024     2023  
ASSETS    
Current Assets    
Cash $ 453,162   $ 76,878  
Accounts Receivable   638,890     721,932  
Inventory   2,471,567     2,756,350  
Other Current Assets   355,928     1,717,650  
Total Current Assets   3,919,547     5,272,810  
     
Long Term Assets    
Property and Equipment, net of Accumulated Depreciation   5,449,412     6,428,112  
Operating Lease Right-of-Use Assets, net   3,303,158     3,658,493  
Investment in Flavored Bourbon LLC   14,285,222     10,864,000  
Intangible Assets (Note 10)   421,151     0  
Goodwill (Note 10)   589,870     0  
Other Long Term Assets   31,666     44,817  
Total Long Term Assets   24,080,479     20,995,422  
Total Assets $ 28,000,026   $ 26,268,232  
     
LIABILITIES & STOCKHOLDERS’ EQUITY / (DEFICIT)    
Current Liabilities    
Accounts Payable $ 4,979,353   $ 5,228,786  
Accrued Payroll   950,974     1,321,298  
Accrued Tax Liability   1,535,628     1,468,994  
Other Current Liabilities   1,253,052     1,827,013  
Operating Lease Liabilities, Current   1,131,545     1,294,706  
Notes Payable, Current   3,758,595     14,270,956  
Convertible Notes Payable (2022 and 2023 Convertible Notes) (including related party convertible notes of $0 and $17,220,203 as of December 31, 2024 and 2023, respectively) (See Notes 5 and 15)   0     36,283,891  
Accrued Interest   202,367     1,152,998  
Total Current Liabilities   13,811,514     62,848,642  
     
Long Term Liabilities    
Operating Lease Liabilities, net of Current Portion   2,810,015     3,081,924  
Notes Payable, net of Current Portion   9,482,339     0  
Convertible Notes Payable (2022 and 2023 Convertible Notes) (including a related party convertible note of $0 and $3,476,057 as of December 31, 2024 and 2023, respectively)   0     0  
Convertible Notes Payable (Whiskey Notes) (including a related party convertible note of $390,607 and $0 as of December 31, 2024 and 2023, respectively)   0     1,452,562  
Warrant Liabilities (2022 and 2023 Convertible Notes) (including a related party warrant liability of $0 and $340,918 as of December 31, 2024 and 2023, respectively)   0     794,868  
Warrant Liabilities (Whiskey Notes) (including a related party warrant liability of $406,774 and $0 as of December 31, 2024 and 2023, respectively)   0     1,512,692  
Accrued Interest, net of Current Portion   977,316     0  
Other Long Term Liabilities   127,075     0  
Total Long-Term Liabilities   13,396,745     6,842,046  
Total Liabilities   27,208,259     69,690,688  
     
Commitments and Contingencies (Note 13)    
     
Stockholders’ Equity / (Deficit)    
Preferred Stock, par value $0.0001 per share; 5,000,000 and 0 shares authorized; 500,000 and 0 shares designated Series A as of December 31, 2024 and 2023, respectively; 494,840 and 0 shares issued and outstanding as of December 31, 2024 and 2023, respectively   49     0  
Common Stock, par value $0.0001 per share; 70,000,000 and 10,000,000 shares authorized as of December 31, 2024 and 2023 respectively; 5,273,611 and 381,484 shares issued and outstanding as of December 31, 2024 and 2023, respectively   556     67  
Additional Paid-In-Capital   74,925,180     31,421,953  
Accumulated Deficit   (74,134,018 )   (74,844,476 )
Total Stockholders’ Equity / (Deficit)   791,767     (43,422,456 )
Total Liabilities & Stockholders’ Equity / (Deficit) $ 28,000,026   $ 26,268,232  



Heritage Distilling Holding Company, Inc.
Consolidated Statement of Operations
  For the Years Ended

December 31,
    2024     2023  
NET SALES    
Products $ 6,614,933   $ 5,136,482  
Services   1,787,555     2,834,742  
Total Net Sales   8,402,488     7,971,224  
     
COST OF SALES    
Products   6,173,189     4,963,176  
Services   103,452     857,007  
Total Cost of Sales   6,276,641     5,820,183  
Gross Profit   2,125,847     2,151,041  
     
OPERATING EXPENSES    
Sales and Marketing   6,038,636     5,938,315  
General and Administrative   11,006,021     7,477,285  
Total Operating Expenses   17,044,657     13,415,600  
Operating Loss   (14,918,810 )   (11,264,559 )
     
OTHER INCOME / (EXPENSE)    
Interest Expense   (2,535,701 )   (2,526,740 )
Gain on Investment   3,421,222     0  
Change in Fair Value of Convertible Notes   14,028,067     (22,764,854 )
Change in Fair Value of Warrant Liabilities   736,580     (240,159 )
Change in Fair Value of Contingency Liability   0     0  
Other Income / (Expense)   (11,750 )   4,893  
Total Other Income / (Expense)   15,638,418     (25,526,860 )
Income / (Loss) Before Income Taxes   719,608     (36,791,419 )
Income Taxes   (9,150 )   (7,000 )
Net Income / (Loss) $ 710,458   $ (36,798,419 )
     
Net Income / (Loss) Per Share, Basic $ 0.05   $ (96.45 )
     
Weighted Average Common Shares Outstanding, Basic   1,281,339     381,543  
     
Net Income / (Loss) Per Share, Diluted (See Note 16) $ (1.97 ) $ (96.45 )
     
Weighted Average Common Shares Outstanding, Diluted   7,077,759     381,543  



Heritage Distilling Holding Company, Inc.
Gross Profit Analysis excluding unabsorbed overhead
    Years Ended

December 31,

(rounded to $000’s)
      2024     2023  
GAAP Total Net Sales   $ 8,403,000   $ 7,972,000  
GAAP Gross Profit     2,126,000     2,151,000  
GAAP Gross Profit Additions/(Deductions):      
Unabsorbed Overhead     2,550,000     2,215,000  
Adjusted Gross Profit excluding unabsorbed overhead   $ 4,676,000   $ 4,366,000  
GAAP Gross Margin     25.3 %   27.0 %
Adjusted Gross Margin excluding unabsorbed overhead     55.6 %   54.8 %



Heritage Distilling Holding Company, Inc.
EBITDA Analysis
    Years Ended

December 31,

(rounded to $000’s)
      2024     2023  
Net Income (Loss)   $ 710,000   $ (36,798,000 )
Add (Deduct):      
Income Tax     9,000     7,000  
Interest Expense     2,536,000     2,527,000  
Depreciation and Amortization     1,285,000     1,430,000  
EBITDA   $ 4,540,000   $ (32,834,000 )
Change in fair value of convertible notes     (14,028,000 )   22,765,000  
Change in fair value of warrant liabilities     (737,000 )   240,000  
Investment (Gain) Loss     (3,421,000 )   0  
Share-Based Compensation     4,892,000     19,000  
Adjusted EBITDA  
$
 		(8,754,000 ) $ (9,810,000
)
       

Heritage Distilling Holding Company, Inc.
Non-Cash Share-Based Compensation
    Years Ended

December 31,

(rounded to $000’s) 		 
      2024   2023 Change
Production / Cost of Sales   $ 178,000 $ – $ 178,000
Sales and Marketing     730,000   –   730,000
General and Administrative     2,414,000   6,000   2,408,000
Subtotal Employee Compensation     3,322,000   6,000   3,316,000
Professional Fees     1,570,000   13,000   1,557,000
Total Non-Cash Share-Based Compensation   $ 4,892,000 $ 19,000 $ 4,873,000



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Philip Morris International CEO Jacek Olczak Addresses Emerging Global Divide in Regulatory Approaches to Consumer Innovation

Philip Morris International CEO Jacek Olczak Addresses Emerging Global Divide in Regulatory Approaches to Consumer Innovation

Olczak issues call for pragmatic policies that accelerate advances in public health, noting that approximately 20% of smokers globally lack access to better alternatives to cigarettes

STAMFORD, Conn.–(BUSINESS WIRE)–
Jacek Olczak, Chief Executive Officer of Philip Morris International Inc. (NYSE: PM), outlined the need for common-sense regulations in the consumer goods sector while addressing global leaders at Semafor’s annual World Economy Summit in Washington, D.C., on April 25, 2025. Olczak emphasized the sector’s potential for innovation-led growth despite the volatile economic environment. He stressed, however, that without appropriate regulation and policy frameworks to enable scientific evaluation and consumer access, promising breakthroughs—such as innovations in wellness, food, and personal care products—could become missed opportunities.

While addressing the tobacco and nicotine industry specifically, Olczak stated, “Disparities in nicotine regulation are creating a global divide with profound health and economic impacts. Some countries that have prohibited smoke-free products are seeing higher smoking rates persist, while many of those whose policies encourage smokers to make better choices are advancing away from cigarettes more quickly. As a result, we are already starting to see nations where smoking has significantly declined while others unnecessarily continue to experience smoking rates of 20, 30% or higher.”

Today, more than 190 million smokers1 in more than 20 markets—nearly 20% of smokers globally—have no legal access to smoke-free products, while cigarettes—the most harmful way to consume nicotine—are available on the market. In many countries that explicitly prohibit smoke-free products—including Turkey and Brazil—smoking rate declines are stubbornly slower. In 2022, smoking prevalence in Turkey remained over 30%, essentially unchanged since 2014. This stagnation persists despite the introduction of advertising bans, high excise taxes, plain packaging, and a complete flavor ban on cigarettes.

Conversely, many countries that have embraced smoke-free products—including the United States, Sweden, Japan, and New Zealand—have seen correlating declines in cigarette sales and smoking rates. Specifically, Sweden is about to achieve “smoke-free” status (as defined by the World Health Organization), with smoking prevalence currently at 5.3%, the lowest in Europe. This is largely attributable to the long-running availability of snus as a less harmful alternative to cigarettes, in conjunction with traditional tobacco control measures. Japan has also seen a significant reduction in cigarette smoking over the last decade, with this accelerated decline attributed to the nationwide introduction of heated tobacco products in 2015, stable quitting rates, and record-low initiation rates among non-smokers and youth. Japan could eliminate cigarettes entirely within a few years leading the way in Asia, and with greater support from governments and regulatory bodies the entire world could follow.

“Innovation needs to be accessible and impactful. At PMI, we have invested heavily, innovated continually, and transformed our business model to replace cigarettes with better, smoke-free alternatives, which as of Q1 2025 represent 42% of our global net revenues—up from zero a decade ago. It is imperative that countries worldwide adopt policy frameworks that keep pace with these innovations to deliver on the promise of progress,” Olczak said while attending Semafor’s World Economy Summit.

As PMI continues to innovate and lead the way to a smoke-free future, it calls on policymakers worldwide to adopt pragmatic regulatory approaches—moving beyond outdated policies to prioritize the health and well-being of adult smokers, in their interest and the interest of public health.

Philip Morris International: A Global Smoke-Free Champion

Philip Morris International is a leading international consumer goods company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch, and e-vapor products. As of December 31, 2024, PMI’s smoke-free products were available for sale in 95 markets, and PMI estimates they were used by 38.6 million adults around the world. The smoke-free business accounted for 42% of PMI’s first-quarter 2025 total net revenues. Since 2008, PMI has invested over $14 billion to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults who would otherwise continue to smoke, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match’s General snus and ZYN nicotine pouches and versions of PMI’s IQOS devices and consumables – the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumablesand General snus also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness and healthcare areas and aims to enhance life through the delivery of seamless health experiences. References to “PMI”, “we”, “our”, and “us” mean Philip Morris International Inc., and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com.

1 WHO Global report on trends in prevalence of tobacco use 2000 – 2030

Philip Morris International

David Fraser

Philip Morris International

T. +41 (0)58 242 4500

E. [email protected]

KEYWORDS: Turkey Switzerland United States Japan North America Asia Pacific Europe Connecticut

INDUSTRY KEYWORDS: Public Policy/Government Tobacco Retail White House/Federal Government

MEDIA:

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The Cheesecake Factory Celebrates Mom With Special Online Gift Card Offer

The Cheesecake Factory Celebrates Mom With Special Online Gift Card Offer

Receive a $10 Bonus Card for every $50 in Gift Cards Purchased Online Now through Mother’s Day

CALABASAS HILLS, Calif.–(BUSINESS WIRE)–The Cheesecake Factory®(NASDAQ: CAKE), known for its extensive menu, generous portions and legendary desserts, is making Mother’s Day shopping sweeter and easier with a special online gift card offer: For every $50 in Gift Cards purchased online in a single transaction from Monday, April 28, 2025 through Mother’s Day, Sunday, May 11, 2025, guests will receive a complimentary $10 Bonus Card redeemable May 12, 2025 through June 4, 2025*.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250428423831/en/

With an extensive menu of more than 250 dishes – including more than 20 new items – freshly prepared and from scratch – and more than 30 legendary cheesecakes, The Cheesecake Factory Gift Cards and Bonus Cards are the perfect gifts for mom and anyone on your gift list (including self-gifting.) Use them when dining in or ordering pickup or curbside to-go online from https://www.thecheesecakefactory.com.

For more information about The Cheesecake Factory, please visit www.TheCheesecakeFactory.com

Find us on Facebook at www.facebook.com/TheCheesecakeFactory

Follow us on X atwww.x.com/cheesecake

Follow us on Instagram at www.instagram.com/cheesecakefactory

Follow us on TikTok at www.tiktok.com/@thecheesecakefactory

*Terms and Conditions:

  • Subject to availability, purchaser will receive one $10.00 Bonus Card for every $50.00 worth of The Cheesecake Factory gift cards purchased online in a single transaction from 04/28/2025 through 05/11/2025 at https://www.thecheesecakefactory.com/gift-cards. Bonus Cards may be used beginning 05/12/2025 and expire 06/04/2025 (end of business day). Promotion may be terminated at any time. Bonus Cards may not be used in conjunction with any other discount or offer. Full terms and conditions, including additional restrictions on the use of Bonus Cards, are available at https://www.thecheesecakefactory.com/gift-card-offer.

About The Cheesecake Factory Incorporated

The Cheesecake Factory is a leader in experiential dining. We are culinary forward and relentlessly focused on hospitality. Delicious, memorable experiences created by passionate people – this defines who we are and where we are going. We currently own and operate 357 restaurants throughout the United States and Canada under brands including The Cheesecake Factory®, North Italia®, Flower Child® and a collection of other FRC brands. Internationally, 33 The Cheesecake Factory® restaurants operate under licensing agreements. Our bakery division operates two facilities that produce quality cheesecakes and other baked products for our restaurants, international licensees and third-party bakery customers. In 2025, we were named to the FORTUNE Magazine “100 Best Companies to Work For®” list for the twelfth consecutive year. To learn more, visit www.thecheesecakefactory.com, www.northitalia.com, www.iamaflowerchild.com and www.foxrc.com.

From Fortune. ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Fortune® and Fortune 100 Best Companies to Work For® are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, The Cheesecake Factory Incorporated.

MEDIA

Berk Communications

Brooke Levine / Alexandra Seibt

732-735-5982 / 440-413-6606

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Retail Online Retail Restaurant/Bar Food/Beverage

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Robert Half Research Reveals Key Priorities and Challenges Facing Today’s Technology Leaders

PR Newswire

  • Key focus areas include closing skills gaps, addressing technical debt, and advancing tech modernization and digital transformation


MENLO PARK, Calif.
, April 28, 2025 /PRNewswire/ — New research from talent solutions and business consulting firm Robert Half reveals that a shortage of skilled technology talent is hindering companies’ ability to meet strategic goals and modernize their operations. According to Robert Half’s 2025 Building Future-Forward Tech Teams report, 74% of technology leaders with hiring plans are recruiting to support company growth, yet 87% report difficulty finding skilled candidates.

Top Priorities of Technology Leaders
The report identifies the following as top priorities for technology leaders in 2025:

  1. Security of IT systems and information: Keeping up with rapidly evolving cybersecurity threats requires advanced security measures and expertise.
  2. AI, machine learning and automation: These initiatives are key to improving productivity and enabling intelligent workflows.
  3. AI governance: Organizations must ensure AI tools and systems are deployed ethically, transparently and responsibly.
  4. Technology modernization: Updating legacy tools, systems and processes is essential for driving innovation and efficiency.
  5. Cloud initiatives: Cloud technology is foundational to growing and scaling operations and improving IT processes and support functions.

“Organizations require specialized technical expertise to meet business priorities, modernize IT operations and drive innovation,” said Ryan Sutton, executive director at Robert Half. “Building a next-gen team requires a strategic plan—not only for hiring the right talent but also for developing internal teams to maintain momentum on key initiatives.”

Technical Debt and Skills Gap Present Ongoing Challenges
Fifty-five percent of tech leaders cite technical debt—the need to modernize technology systems and operations—as a major barrier to achieving their strategic priorities in 2025. Addressing this issue requires specialized skills in areas such as AI development, cloud architecture and cybersecurity. However, 76% of tech leaders have identified skills gaps within their team, most notably in:

  • AI, machine learning and data science (44%)
  • IT operations and support (39%)
  • Cybersecurity and privacy (30%)

Digital Transformation and Enterprise Resource Planning

Enterprise systems like ERP play a critical role in digital transformation and IT modernization, fueling demand for talent with specialized expertise and skills. According to the report, 75% of tech leaders expect this demand to grow in 2025. However, 92% report challenges hiring for ERP-related roles. The top obstacles include:

  1. Finding candidates with ERP module experience
  2. Meeting candidates’ salary expectations
  3. Assessing candidates’ skills

“ERP platforms have evolved from back-office systems into dynamic, cloud-based solutions that connect every function of the enterprise,” Sutton added. “Today’s intelligent and integrated ERPs deliver real-time insights, enable AI-driven decision-making, and support agile operations—making them essential to modern IT infrastructure. However, finding skilled professionals with this expertise remains a challenge, prompting many organizations to rely on consultants and flexible staffing solutions to keep these projects on track and support broader digital transformation goals.”

For a deeper look at how technology leaders are navigating hiring challenges, addressing technical debt and building future-ready teams, check out Robert Half’s 2025 Building Future-Forward Tech Teams report.

About the Research
The data from the report is from a survey developed by Robert Half and conducted by an independent research firm. The survey contains responses from nearly 250 technology leaders at the director level or above at companies in the United States.

About Robert Half
Robert Half (NYSE: RHI) is the world’s first and largest specialized talent solutions and business consulting firm, connecting highly skilled job seekers with rewarding opportunities at great companies. We offer contract talent and permanent placement solutions in the fields of finance and accounting, technology, marketing and creative, legal, and administrative and customer support, and we also provide executive search services. Robert Half is the parent company of Protiviti®, a global consulting firm that delivers internal audit, risk, business and technology consulting solutions. In the past 12 months, Robert Half, including Protiviti, has been named one of the Fortune®Most Admired Companies™ and 100 Best Companies to Work For. Explore talent solutions, research and insights at roberthalf.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/robert-half-research-reveals-key-priorities-and-challenges-facing-todays-technology-leaders-302439086.html

SOURCE Robert Half

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StepStone Real Estate Closes Record-Breaking $3.77 Billion Real Estate Secondaries Fund, Surpassing $4.5 Billion in Total Investment Capacity

SREP V oversubscribed and significantly surpassed target

NEW YORK, April 28, 2025 (GLOBE NEWSWIRE) — StepStone Real Estate (SRE), the real estate arm of StepStone Group (Nasdaq: STEP), today announced the final closing of StepStone Real Estate Partners V (SREP V), its fifth flagship fund dedicated to GP-led secondaries and recapitalizations of real estate vehicles. With $3.77 billion in primary commitments, SREP V represents the largest real estate secondaries fund raised to date. Including co-investments completed and discretionary vehicles raised to invest alongside the fund, the total investment program exceeds $4.5 billion in capacity.

Despite challenging market conditions and a slowdown in fundraising across the real estate sector, SREP V was significantly oversubscribed, reflecting strong investor confidence in SRE’s differentiated strategy and past performance. To date, SREP V and related separate accounts have committed $1.7 billion across 8 investments, with a large pipeline of transactions currently closing, underscoring the significant demand for liquidity solutions from real estate GPs.

Founded in 2009, SRE was established by Jeff Giller, Partner and Head of StepStone Real Estate, Josh Cleveland, Partner and Head of EMEA, and Brendan MacDonald, Partner and Chief Operating Officer. Since inception, the firm has focused on providing liquidity to real estate funds and their investors during times of market dislocation.

“We believe the combination of value declines, historically low transaction volume, increased borrowing costs, and a slow fundraising environment has created unprecedented illiquidity across real estate markets,” said Giller. “Our strategy—providing liquidity solutions to real estate vehicles and investors when traditional liquidity avenues are challenged—has proven resilient through all phases of the market cycle, and it’s especially compelling today.”

“SREP V attracted a diverse global investor base, including sovereign wealth funds, pension funds, insurance companies, and wealth management platforms,” said Cleveland. “The fund saw notably higher participation from North American institutions compared to prior vintages, along with increased commitments from investors in Europe, Asia, the Middle East, and Latin America,” he added.

The success of the fundraise was also driven by the strength of SRE’s broader platform.   “Our advisory practice, which oversees roughly $170 billion in real estate assets under advisement, continues to play a pivotal role in sourcing and evaluating secondaries transactions,” said MacDonald. “We conduct over 1,000 manager meetings annually and have allocated approximately $17 billion per year across primary investments in funds, secondaries, and co-investments. This level of engagement gives us a distinct vantage point in the market—and a strong edge in deal sourcing and diligence.”

SREP V continues a strategy pioneered by SRE’s founders following the Global Financial Crisis, shifting from traditional secondaries focused on passive limited partner interests to control-oriented, GP-led secondaries and recapitalizations.

Latham & Watkins LLP advised on the formation of the fund and Threadmark Partners Limited provided placement agent services.

About StepStone and StepStone Real Estate

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2024, StepStone was responsible for $698 billion of total capital, including $179 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the real estate, private equity, infrastructure, and private debt asset classes.

Contacts

Shareholder Relations:

Seth Weiss
[email protected]
+1 (212) 351-6106

Media:

Brian Ruby / Chris Gillick / Matt Lettiero, ICR
[email protected]
+1 (203) 682-8268



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iRhythm Presents New Real-World Data on Ambulatory Cardiac Monitoring at HRS 2025 Reinforcing Clinical Superiority of Zio Long-Term Continuous Monitoring

  • Findings in a younger, commercially insured population build on Medicare-based CAMELOT results, expanding the generalizability of Zio LTCM’s clinical impact across patient groups.
  • Latest data showed Zio LTCM was associated with higher diagnostic yield and lower likelihood of repeat testing and cardiovascular events compared to all other LTCM products.

SAN FRANCISCO, April 28, 2025 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ:IRTC) announced results from a large real-world retrospective analysis presented at the Heart Rhythm Society’s annual meeting, HRS2025, held April 24–27 in San Diego, CA, The Assessment of Variation in AmbuLatory Cardiac MONitoring: Real-World Evidence of Commercially Insured Beneficiaries (AVALON) study—drawing on claims data from a cohort of 428,707 commercially insured patients—represents the largest real-world comparative evaluation of ambulatory cardiac monitoring (ACM) among this population to date, and reinforces the clinical superiority of the Zio® long-term continuous monitoring (LTCM) service.

The Zio LTCM service consists of a prescription-only, patch-based ECG monitoring device that captures up to 14 days of continuous, uninterrupted data, and the ZEUS® (Zio ECG Utilization Software) system with an FDA-cleared AI algorithm clinically proven to perform at the level of cardiologists.1 The system delivers an end-of-wear report that is reviewed and validated by qualified cardiac technicians, with a 99% physician agreement rate.2

Building on findings from the CAMELOT (Cardiac Ambulatory Monitor EvaLuation of Outcomes and Time to Events) study—published in the American Heart Journal—which demonstrated the clinical superiority of the Zio LTCM service among a Medicare population, the AVALON study evaluated a younger, commercially insured population (mean age: 46 years). Like CAMELOT, the AVALON data showed that Zio LTCM service was associated with the highest diagnostic yield compared to other ACM modalities and all other LTCM services, and a lower likelihood of repeat testing compared to all other LTCM services. AVALON also found that Zio LTCM service was associated with a lower likelihood of cardiovascular (CV) events compared to other ACM modalities and all other LTCM services.

Also at HRS, as part of a separate analysis, data were also presented showing that use of the MyZio® App, a patient smartphone accessory app designed to improve patient engagement and enable digital symptom logging, was associated with increased symptom reporting, improved symptom-rhythm correlation, and a greater rate of arrhythmia-correlated dairy entries compared to non-users — demonstrating that digital apps can provide additional contextual clinical information and reinforcing the value of digital engagement alongside ambulatory cardiac monitoring.

“Once again, we have strong real-world evidence that compellingly demonstrates the superiority of Zio’s 14-day, uninterrupted, patch-based monitoring — AVALON extends findings beyond Medicare to patients in common commercial insurance plans,” said Mintu Turakhia, MD, iRhythm Chief Medical and Scientific Officer and EVP of Product Innovation. “We’re also proud of MyZio, which enriches the patient experience and provides more information to their doctor. As a Top 40 Medical App, our iOS App has a 4.7 rating — a rare accomplishment among medical device connected apps.”

AVALON Study Evaluates Clinical Outcomes in Real-World Cardiac Monitoring

The AVALON study aimed to assess the impact of ambulatory cardiac monitoring strategy on three key clinical outcomes: diagnostic yield, likelihood of repeat testing, and likelihood of cardiovascular (CV) events.3 These outcomes reflect both the immediate diagnostic effectiveness of ambulatory cardiac monitoring and its longer-term clinical implications.

Diagnostic yield—the ability to identify clinically relevant arrhythmias during a monitoring period—is a critical measure of effectiveness, as it enables earlier, more confident treatment decisions and may reduce the need for additional testing. Arrhythmias are commonly paroxysmal and infrequent. Therefore, device design, and performance AI, and quality of technician review can all affect whether arrhythmias are identified. Repeat testing may reflect diagnostic uncertainty, which can delay care and increase the burden on both patients and clinicians. In real-world settings, retest rates offer practical insight into diagnostic efficiency. CV events, such as cardiac arrest, myocardial infarction (MI), embolic stroke, or heart failure, represent meaningful long-term outcomes. Reducing the likelihood of these CV events is a key goal in arrhythmia management and may reflect the broader clinical impact of monitoring strategy.

Using closed claims data,4 investigators identified 428,707 commercially insured patients who were diagnostically naïve — defined as having no prior cardiac monitoring, arrhythmia diagnosis, or arrhythmia-related procedures or medications in the 12 months prior to the index date (baseline period). Of the records analyzed, 36% of patients used LTCM, 36% used a Holter monitor, and 27% used an ambulatory event monitor (AEM). The mean age ranged from 45 to 46 years across ACM cohorts.

Diagnostic Yield and Likelihood of Retest and Cardiovascular Events

New arrhythmia diagnosis — as documented in clinical encounter claims using ICD-10 codes for specified arrhythmias, within the first 90 days was highest for Zio LTCM service (26.5%), followed by non-iRhythm LTCM (18.4%), AEM (17.0%), and Holter monitoring (14.7%).

Zio LTCM service was associated with the highest adjusted odds of a new arrhythmia encounter diagnosis compared to other ACM modalities and all other LTCM services. Compared to Holter monitors, Zio LTCM service was 2.04 times more likely to have a new arrhythmia encounter diagnosis within 90-days. Compared to AEM, Zio LTCM was 1.69 times more likely to have a new arrhythmia encounter diagnosis within 90-days. Compared to non-iRhythm LTCM services, Zio LTCM service was 1.56 times more likely to have a new arrhythmia encounter diagnosis within 90-days. Compared to Bardy LTCM service, Zio LTCM service was 1.12 times more likely to have a new arrhythmia encounter diagnosis within 90-days. Compared to Biotelemetry LTCM service, Zio LTCM service was 1.72 times more likely to have a new arrhythmia encounter diagnosis within 90-days. Compared to Preventice LTCM service , Zio LTCM service was 1.69 times more likely to have a new arrhythmia encounter diagnosis within 90-days. Compared to “Other LTCM,” Zio LTCM service was 1.61 times more likely to have a new arrhythmia encounter diagnosis within 90-days.

Zio LTCM service was associated with lowest adjusted odds of retesting within 180 days compared to all other LTCMs from service providers in the same extended monitoring category. Compared to Zio LTCM service, all non-iRhythm LTCMs were 1.95 times more likely to result in a retest. Across the providers in the LTCM space, Bardy, BioTelemetry, Preventice, and “Other LTCM” providers were associated, respectively, as 1.41, 1.39, 1.30, and 3.52 times more likely to result in a retest within 180 days compared to Zio LTCM.3

Zio LTCM service was associated with lowest adjusted odds of cardiovascular events within 1-year compared to ACM modalities and all other LTCMs from service providers in the same extended monitoring category.

Holter monitors were 1.13 times more likely and AEM were 1.21 times more likely to have a CV event within 1-year compared to Zio LTCM service. Compared to Zio LTCM service, non-iRhythm LTCMs were 1.23 times more likely to have a CV event within 1-year after accounting for baseline patient differences. Across the providers in the LTCM space, Bardy, BioTelemetry, Preventice, and “Other LTCM” providers were 1.11, 1.24, 1.19, and 1.23 times more likely, respectively, to have a CV event within 1-year compared to Zio LTCM.3

iRhythm’s Expanding Clinical Evidence Base

These new data build on iRhythm’s comprehensive clinical evidence program, encompassing more than 125 original research manuscripts,5 insights derived from over 2 billion hours of curated heartbeat data6 and more than 10 million patient reports posted since the company’s inception—underscoring the company’s ongoing commitment to expanding evidence that supports improved patient outcomes.

About the iRhythm Studies Presented at HRS2025



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itoring: Real-World Evidence of Commercially Insured Beneficiaries study

Ambulatory cardiac monitors (ACM) enable heart rhythm monitoring for various durations, including Holter monitors (0–48 hours), long-term continuous monitoring (LTCM, 3–14 days), and external ambulatory event monitors (AEM, up to 30 days). These devices detect intermittent or asymptomatic arrhythmias that might go unnoticed with a standard electrocardiogram. The prior CAMELOT study explored variations in ACM use among older and sicker Medicare beneficiaries (Mean Age: 76 years; Charlson Comorbidity Index [CCI]: 2.4), but differences among commercially insured patients remained unclear, until now.

The retrospective cohort study sought to assess the incidence of clinical outcomes among commercially insured diagnostic naïve patients who received their first ACM, using a large commercial claims database focused on patients without prior arrhythmia diagnoses who underwent their first ACM between 2016 and 2023. Outcomes included new arrhythmia diagnoses (based on ICD-10 codes) within 90 days, repeat ACM testing within 180 days, and cardiovascular events within 365 days of initiating ACM use. Results were stratified by major ACM manufacturers using national provider identifiers (NPI). To minimize confounding, inverse probability of treatment weighting (IPTW) balanced covariates, and adjusted regression models were used to evaluate outcomes during follow-up. Of 428,707 patients meeting inclusion, 36% used LTCM, 36% Holter, and 27% AEM.

Adjusted analyses showed Zio LTCM service was associated with higher odds of arrhythmia diagnoses, fewer retests (except AEM), and lower odds of cardiovascular events compared to other modalities and all other LTCM manufacturers.

Clinical outcomes vary by ACM type among commercially insured patients. Zio LTCM service demonstrated superior performance, with higher rates of arrhythmia diagnoses, fewer repeat tests, and fewer cardiovascular events compared to other ACM types and all other LTCM providers.

The AVALON study was funded by iRhythm Technologies, Inc; statistical analysis was independently performed by Blue Health Intelligence (BHI).



Digital Engagement With A Patient Smartphone App Is Associated With Increased
 Symptom Reporting And Symptom-Rhythm Correlation In Patients Undergoing Ambulatory Cardiac Monitoring

Patient-reported symptoms are the most common indication for ambulatory cardiac monitoring (ACM) and a key component of arrhythmia management used to guide treatment decisions. Symptom severity and context are useful in risk stratification and were traditionally captured in paper diaries. MyZio® mobile app is an optional patient smartphone app for use with Zio® ACMs (including LTCM and mobile cardiac telemetry devices) designed to improve engagement and enable digital symptom logging.

The retrospective study sought to evaluate the impact of MyZio App digital symptom logging, as compared to paper patient diaries, on symptom-rhythm correlation (SRC), and evaluated >164,000 randomly sampled ECG records from among patients ≥18 yrs prescribed Zio ACM for ≤14 days between Jan 1 and Jun 30, 2024. Symptoms were recorded by 1) a patient-activated button incorporated into the ACM, 2) entries in a paper diary provided with the ACM, or 3) entries in a digital diary available to app users. Continuous ECG data were analyzed using an FDA cleared deep learning algorithm for arrhythmia classification. Symptoms documented within ±45 seconds of an arrhythmia were considered rhythm correlated. We calculated the percentage of symptomatic episodes based on button presses or dairy entry and per-patient SRC.

Among 164,563 patients, 18.4% used the MyZio App. App users were younger and more likely to be female than non-users. App use was associated with increased odds of rhythm-correlated symptoms by button press (OR=1.86; 95%CI 1.84-1.89) and diary entry (OR=3.44; 95%CI 3.38-3.50). Overall engagement was greater among App users vs. non-users, with a higher rate of episodes identified by button press alone and per-patient SRC (16.0% vs. 13.9%). Use of the MyZio App was associated with a 1.85-fold increase in rate of rhythm-correlated diary entries (OR 1.85, 95%CI 1.81-1.89) over the increase in rate of rhythm-correlated button presses alone.

In patch-based ACM, use of the MyZio App was associated with increased symptom logging, greater SRC and higher odds of rhythm-correlated diary entries. Use of a patient digital app as an adjunct to ACM can provide greater contextual clinical information.

About iRhythm Technologies

iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all. To learn more about iRhythm and its Zio® portfolio of products and services, please visit https://www.irhythmtech.com/.

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1 Hannun et al. Cardiologist-level arrhythmia detection and classification in ambulatory electrocardiograms using a deep neural network. Nat Med. 2019;25:65-69. https://doi.org/10.1038/s41591-018-0268-3
2 99% of physicians agree with the comprehensive end-of-wear report. Based on a review of all online Zio XT, Zio monitor, and Zio AT end-of-wear reports. Data on file. iRhythm Technologies, 2023.
3 Cardiovascular Events defined as cardiac arrest, MI, arterial embolism and thrombosis, embolic stroke, systemic embolism, coronary heart disease, chronic obstructive pulmonary disease, cerebrovascular disease, heart failure
4 The analysis was conducted using closed claims data from a large, national commercial health plan dataset maintained by BHI (Blue Health Intelligence).
5 Data on file. iRhythm Technologies, 2025.
6 Data on file. iRhythm Technologies, 2024.