Market Newsdesk

March 17, 2025 8:41 am

Sonida Senior Living, Inc. Announces Fourth Quarter and Full Year 2024 Results

Sonida Senior Living, Inc. Announces Fourth Quarter and Full Year 2024 Results

DALLAS–(BUSINESS WIRE)–
Sonida Senior Living, Inc. (the “Company,” “Sonida,” “we,” “our,” or “us”) (NYSE: SNDA) a leading owner, operator and investor of senior housing communities, today announced its results for the fourth quarter and for the full year ended December 31, 2024.

“2024 was a transformative year for Sonida, highlighted by the combination of organic and inorganic growth and continued strengthening of our balance sheet. We delivered another year of strong NOI growth in our same-store portfolio, driven by improvements across all key metrics, and coupled this with the acquisition of 20 high-quality communities with significant embedded upside. Sonida executed on its first overnight equity offering and put in place a new secured corporate credit facility, creating the dry powder to fuel the rapid pace of acquisition activity. Cumulatively, these activities position Sonida for accelerated NOI growth in 2025, demonstrating the power of our owner/operator model and high-touch approach to the resident experience,” said Brandon Ribar, President and CEO.

Fourth Quarter and Full Year Highlights

Weighted average occupancy for the Company’s owned same-store portfolio increased 70 basis points to 86.6% in Q4 2024 from 85.9% in Q4 2023.
Same-store resident revenue increased $3.6 million, or 6.0%, comparing Q4 2024 to Q4 2023.
Net loss attributable to Sonida stockholders for 2024 was $2.1 million compared to $21.1 million for 2023, representing a $19.0 million improvement.
2024 Adjusted EBITDA, a non-GAAP measure, was $43.2 million, as compared to $33.9 million in 2023, representing an increase of $9.3 million or 27.4%, driven primarily by continued improvement in operations.
Results for the Company’s same-store owned portfolio of 61 communities:
- Q4 2024 vs. Q4 2023:
  - Revenue Per Available Unit (“RevPAR”) increased 6.0% to $3,678.
  - Revenue Per Occupied Unit (“RevPOR”) increased 5.1% to $4,248.
  - Q4 2024 Community Net Operating Income, a non-GAAP measure, was $16.0 million compared to $16.3 million for Q4 2023. The slight decrease was a result of prior year real estate tax protest settlements of $1.0 million and decrease in workers compensation reserve of $0.7 million recognized in Q4 2023, partially offset by continued improvement in operations.
  - Community Net Operating Income Margin (“NOI Margin”), a non-GAAP measure, was 25.5% as compared to 27.4% for Q4 2023. Excluding the Q4 2023 real estate tax protest settlements and workers compensation reserve decrease, the NOI Margin for Q4 2023 would have been 24.6%.
- 2024 vs. 2023:
  - RevPAR increased 8.1% to $3,650.
  - RevPOR increased 5.9% to $4,224.
  - Community Net Operating Income increased $7.5 million to $65.4 million.
  - Community Net Operating Income Margin was 26.2% and 25.0% for 2024 and 2023, respectively. Adjusted Community Net Operating Income Margin, which excludes $2.9 million in state relief grants received in 2023, was 26.2% and 24.0% for 2024 and 2023, respectively.

Recent Highlights

Cincinnati Acquisition

In December 2024, the Company closed on the acquisition of an unoccupied single senior living community located in Cincinnati, Ohio for a purchase price of $16.3 million. Sonida funded the transaction with $18.3 million of senior mortgage debt, including $2.0 million for capital expenditure investment into the facility, which is expected to be utilized to furnish the community and prepare it for residents prior to opening. The non-recourse mortgage has an 84-month term and 24-month interest waiver to support lease-up and stabilization, with a 3% fixed-interest-only rate thereafter. Due to its geographical proximity, this community is operationally positioned as a dual campus with the Company’s existing community, the Wellington at North Bend Crossing.

Atlanta Acquisition

In November 2024, the Company acquired two senior living communities in the Atlanta, Georgia market for $29.0 million (“Atlanta Acquisition”) to further expand our owned communities and support our growth initiative.

Fannie Mae Loan Extension

In December 2024, the Company entered into an Omnibus Amendment to Multifamily Loan and Security Agreements (the “Omnibus Amendment”) with Federal National Mortgage Association (“Fannie Mae”). The Omnibus Amendment amends the terms of each of the loan agreements (each, a “2024 Loan Agreement” and collectively, the “2024 Loan Agreements”) relating to an aggregate of $220 million of loans for 18 of the Company’s 37 senior living communities encumbered by mortgage agreements with Fannie Mae to, among other things, extend the maturity dates of each 2024 Loan Agreements from December 1, 2026 to January 1, 2029 in exchange for $10 million of scheduled principal paydowns on the 2024 Loan Agreements, which included a $2 million paydown made at closing and a series of $2 million, $3 million and $3 million due in November 2025, 2026 and 2027, respectively.

Senior Secured Revolving Credit Facility

In October 2024, the Company closed on the additional $75.0 million commitment under our senior secured revolving credit facility (the “Credit Facility”). The incremental $75.0 million availability results in a total aggregate commitment under the Credit Facility of up to $150.0 million. The Credit Facility has a term of three years, a leverage-based pricing matrix between SOFR plus 2.10% margin and SOFR plus 2.60% and is fully recourse to Sonida. On October 30, 2024, the Company drew down $60.0 million under the Credit Facility and used such borrowing to fund the Atlanta Acquisition and the Texas DPO (as defined below) as well as for liquidity and general corporate purposes. Borrowing availability under the Credit Facility is generally determined based upon the value of the senior living communities that secure the Company’s obligations under the Credit Facility. Our current borrowing of $60 million is secured by 13 of our senior living communities.

Texas DPO

In November 2024, the Company exercised its option to make a discounted payoff (“Texas DPO”) of the outstanding loan principal for two communities located in Texas. The Texas DPO amount of $18.3 million represents a discount of 36% on the total principal outstanding of $28.4 million (as of November 1, 2024). The Texas DPO represents the last material restructuring of the Company’s legacy debt portfolio, with 58 of 60 loans having been addressed over the past 12 months.

Results of Operations

Three months ended December 31, 2024 as compared to three months ended December 31, 2023

Revenues

Resident revenue for the three months ended December 31, 2024 was $77.1 million as compared to $59.3 million for the three months ended December 31, 2023, an increase of $17.8 million, or 30.0%. The increase in revenue was primarily due to increased occupancy, increased average rent rates, and 16 acquired consolidated communities (including one unoccupied community acquired on December 31, 2024) as compared to the prior period.

Expenses

Operating expenses for the three months ended December 31, 2024 were $59.2 million as compared to $44.4 million for the three months ended December 31, 2023, an increase of $14.8 million. The increase was attributable to increases in community labor costs of $8.8 million and an increase in other variable operating expenses of $6.0 million, primarily as a result of increased occupancy in the Company’s same store communities and 16 acquired consolidated communities (including one unoccupied community acquired on December 31, 2024) as compared to the prior period.

General and administrative expenses for the three months ended December 31, 2024 were $11.8 million as compared to $9.9 million for the three months ended December 31, 2023, an increase of $1.9 million, or 19.2%. The increase primarily represents additional labor costs of $3.5 million incurred to support the Company’s 2024 acquisitions, which includes $2.1 million in severance. These additional labor costs are offset by a decrease in transaction costs of $1.4 million and a decrease in other expenses of $0.2 million.

Gain on extinguishment of debt for the three months ended December 31, 2024 was $10.4 million, related to the derecognition of notes payable and accrued interest as a result of the Texas DPO.

The Company reported a net loss of $6.2 million for the three months ended December 31, 2024 compared to $14.6 million for the three months ended December 31, 2023.

Year ended December 31, 2024 as compared to the year ended December 31, 2023

Revenues

Resident revenue for the year ended December 31, 2024 was $267.8 million as compared to $232.0 million for the year ended December 31, 2023, an increase of $35.8 million, or 15.4%. The increase in revenue was primarily due to increased occupancy, increased average rent rates, and 16 acquired consolidated communities (including one unoccupied community acquired on December 31, 2024) as compared to the prior year.

Managed community reimbursement revenue for the year ended December 31, 2024 was $33.1 million as compared to $21.1 million for the year ended December 31, 2023, representing an increase of $12.0 million, or 56.9%. The increase was primarily a result of managing three more third-party communities and four unconsolidated joint venture communities during the year ended December 31, 2024 that were not in our prior year results.

Expenses

Operating expenses for the year ended December 31, 2024 were $202.0 million as compared to $177.3 million for the year ended December 31, 2023, an increase of $24.7 million. The increase was primarily attributable to the increase in community labor costs of $15.7 million and an increase in other variable operating expenses of $5.3 million, as a result of increased occupancy in the Company’s same store communities and 16 acquired consolidated communities (including one unoccupied community acquired on December 31, 2024) as compared to the prior the year.

General and administrative expenses for the year ended December 31, 2024 were $40.0 million as compared to $32.2 million for year ended December 31, 2023, an increase of $7.8 million, or 24.2%. The increase is primarily due to a $6.6 million increase in labor costs to support the Company’s 2024 acquisitions and continued acquisition strategy, including $2.1 million in severance, and a $1.6 million increase in stock-based compensation expense, partially offset by a decrease in other expenses of $0.4 million.

During the year ended December 31, 2024, there were no impairments on long-lived assets. During the year ended December 31, 2023, the Company recorded a non-cash impairment charge of $6.0 million related to one owned community with decreased cash flow estimates as a result of recurring net operating losses.

Managed community reimbursement expense for the year ended December 31, 2024 was $33.1 million as compared to $21.1 million for the year ended December 31, 2023, an increase of $12.0 million, or 56.9% related to the result of managing more communities during the year ended December 31, 2024 as compared to the prior year period.

Gain on extinguishment of debt for the year ended December 31, 2024 was $48.5 million related to the derecognition of notes payable and accrued liabilities as a result of the 2024 Loan Purchase and the Texas DPO from two of our lenders. Gain on extinguishment of debt for the year ended December 31, 2023 was $36.3 million related to the derecognition of notes payable and liabilities as a result of the transition of legal ownership of two communities to Fannie Mae, the holder of the related non-recourse debt.

As a result of the foregoing factors, the Company reported net loss of $3.3 million for the year ended December 31, 2024, compared to net loss of $21.1 million for the year ended December 31, 2023.

Liquidity and Capital Resources

Cash flows

The table below presents a summary of the Company’s net cash provided by (used in) operating, investing, and financing activities (in thousands):

	Years ended December 31,
		2024			2023
Net cash provided by (used in) operating activities	$	(1,782	)	$	10,683
Net cash used in investing activities		(208,923	)		(16,562	)
Net cash provided by (used in) financing activities		232,042			(7,113	)
Increase (decrease) in cash and cash equivalents	$	21,337		$	(12,992	)

In addition to $17.0 million of an unrestricted cash balance as of December 31, 2024, our future liquidity will depend in part upon our operating performance, which will be affected by prevailing economic conditions, and financial, business and other factors, some of which are beyond our control. Principal sources of liquidity are expected to be cash flows from operations, proceeds from equity offerings, including sales of common stock under our ATM Sales Agreement, borrowings under our Credit Facility, proceeds from debt refinancings or loan modifications, and proceeds from the sale of owned assets. During 2023, we entered into loan modifications with Fannie Mae, an amendment with Ally Bank, including a revised Limited Payment Guaranty, and an Equity Commitment with Conversant. During 2024, we completed the 2024 Private Placement pursuant to which we issued and sold an aggregate of approximately 5.0 million shares of our common stock to several of our shareholders for gross cash proceeds of $47.8 million, which enabled us to purchase all the Company’s debt then outstanding with a certain lender at a substantial discount, as well as fund future working capital and growth initiatives. Additional financing of $24.8 million for the debt purchase was provided by an expansion of the Company’s existing Ally Bank term loan. In addition, during April 2024, the Company entered into the At-the-Market Issuance Sales Agreement (the “ATM Sales Agreement”), whereby the Company may sell, at its option, shares of its common stock up to an aggregate offering price of $75,000,000. As of December 31, 2024, the Company has received $18.7 million in net proceeds from the ATM sales. During August 2024, the Company completed a public offering and issued 4.8 million shares of common stock for net proceeds of $124.1 million, after deducting underwriting discounts and commissions and the Company’s offering expenses. During August 2024, the Company entered into a Credit Facility in which borrowing availability is determined based upon the value of the senior living communities. As of December 31, 2024, the Company had outstanding borrowings under its Credit Facility of $60.0 million. These transactions are expected to provide additional financial flexibility to us and increase our liquidity position.

The Company, from time to time, considers and evaluates financial and capital raising transactions related to its portfolio, including debt financing and refinancings, purchases and sales of assets, equity offerings, and other transactions. There can be no assurance that the Company will continue to generate cash flows at or above current levels, or that the Company will be able to obtain the capital necessary to meet the Company’s short and long-term capital requirements.

Recent changes in the current economic environment, and other future changes, could result in decreases in the fair value of assets, slowing of transactions, and the tightening of liquidity and credit markets. These impacts could make securing debt or refinancings for the Company or prospective buyers of the Company’s properties more difficult or on terms not acceptable to the Company. The Company’s actual liquidity and capital funding requirements depend on numerous factors, including its operating results, its capital expenditures for community investment, and general economic conditions, as well as other factors described in “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 17, 2025.

Conference Call Information

The Company will host a conference call with senior management to discuss the Company’s financial results for the fourth quarter and full year 2024, on Monday March 17, 2025, at 11:00 a.m. Eastern Time. To participate, dial 800-715-9871, passcode 4619110. A link to the simultaneous webcast of the teleconference will be available at: https://events.q4inc.com/attendee/338479365.

For the convenience of the Company’s shareholders and the public, the conference call will be recorded and available for replay starting March 18, 2025 through March 24, 2025. To access the conference call replay, call 800-770-2030, passcode 4619110. A transcript of the call will be posted in the Investor Relations section of the Company’s website.

About the Company

Dallas-based Sonida Senior Living, Inc. is a leading owner, operator and investor in independent living, assisted living and memory care communities and services for senior adults. The Company provides compassionate, resident-centric services and care as well as engaging programming at our senior housing communities. As of December 31, 2024, the Company owned, managed or invested in 94 senior housing communities in 20 states with an aggregate capacity of approximately 10,000 residents, including 81 owned senior housing communities (including four owned through joint venture investments in consolidated entities, and four owned through a joint venture investment in an unconsolidated entity, and one unoccupied) and 13 communities that the Company managed on behalf of a third-party. For more information, visit www.sonidaseniorliving.com or connect with the Company on Facebook, X or LinkedIn.

Safe Harbor

This release contains forward-looking statements which are subject to certain risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including, among others, the risks, uncertainties and factors set forth under “Item. 1A. Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on March 17, 2025, and also include the following: the Company’s ability to generate sufficient cash flows from operations, proceeds from equity issuances and debt financings, and proceeds from the sale of assets to satisfy its short and long-term debt obligations and to fund the Company’s acquisitions and capital improvement projects to expand, redevelop, and/or reposition its senior living communities; elevated market interest rates that increase the cost of certain of our debt obligations; increased competition for, or a shortage of, skilled workers, including due to general labor market conditions, along with wage pressures resulting from such increased competition, low unemployment levels, use of contract labor, minimum wage increases and/or changes in immigration or overtime laws; the Company’s ability to obtain additional capital on terms acceptable to it; the Company’s ability to extend or refinance its existing debt as such debt matures; the Company’s compliance with its debt agreements, including certain financial covenants and the risk of cross-default in the event such non-compliance occurs; the Company’s ability to complete acquisitions and dispositions upon favorable terms or at all, including the possibility that the expected benefits and the Company’s projections related to such acquisitions may not materialize as expected; the risk of oversupply and increased competition in the markets which the Company operates; the Company’s ability to maintain effective internal controls over financial reporting; the cost and difficulty of complying with applicable licensure, legislative oversight, or regulatory changes; risks associated with current global economic conditions and general economic factors such as elevated labor costs due to shortages of medical and non-medical staff, competition in the labor market, increased costs of salaries, wages and benefits, and immigration laws, the consumer price index, commodity costs, fuel and other energy costs, supply chain disruptions, increased insurance costs, tariffs, elevated interest rates and tax rates; the impact from or the potential emergence and effects of a future epidemic, pandemic, outbreak of infectious disease or other health crisis; the Company’s ability to maintain the security and functionality of its information systems, to prevent a cybersecurity attack or breach, and to comply with applicable privacy and consumer protection laws, including HIPAA; and changes in accounting principles and interpretations.

For information about Sonida Senior Living, visit www.sonidaseniorliving.com or connect with the Company on Facebook, X or LinkedIn.

SONIDA SENIOR LIVING, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)

	Quarters Ended December 31,						Years Ended December 31,
		2024			2023			2024			2023
Revenues:
Resident revenue	$	77,053		$	59,349		$	267,849		$	232,032
Management fees		916			586			3,381			2,191
Managed community reimbursement revenue		13,962			5,785			33,096			21,099
Total revenues		91,931			65,720			304,326			255,322
Expenses:
Operating expense		59,225			44,367			202,015			177,323
General and administrative expense		11,815			9,946			39,997			32,198
Depreciation and amortization expense		13,320			10,137			44,051			39,888
Long-lived asset impairment		—			—			—			5,965
Managed community reimbursement revenue		13,962			5,785			33,096			21,099
Total expenses		98,322			70,235			319,159			276,473
Other income (expense):
Interest income		302			87			1,681			608
Interest expense		(9,596	)		(9,673	)		(36,990	)		(36,118	)
Gain on extinguishment of debt, net		10,388			—			48,536			36,339
Loss from equity method investment		(714	)		—			(895	)		—
Other expense, net		(161	)		(480	)		(540	)		(532	)
Loss before provision for income taxes		(6,172	)		(14,581	)		(3,041	)		(20,854	)
Provision for income taxes		(46	)		(48	)		(239	)		(253	)
Net loss		(6,218	)		(14,629	)		(3,280	)		(21,107	)
Less: Net loss attributable to noncontrolling interests		714			—			1,221			—
Net loss attributable to Sonida shareholders		(5,504	)		(14,629	)		(2,059	)		(21,107	)
Dividends on Series A convertible preferred stock		(1,409	)		—			(2,818	)		—
Undeclared dividends on Series A convertible preferred		—			(1,299	)		(2,707	)		(4,992	)
Net loss attributable to common stockholders	$	(6,913	)	$	(15,928	)	$	(7,584	)	$	(26,099	)

Per share data:
Basic net loss per share	$	(0.38	)	$	(2.17	)	$	(0.54	)	$	(3.85	)
Diluted net loss per share	$	(0.38	)	$	(2.17	)	$	(0.54	)	$	(3.85	)
Weighted average common shares outstanding — basic		18,048			7,331			14,109			6,786
Weighted average common shares outstanding — diluted		18,048			7,331			14,109			6,786

SONIDA SENIOR LIVING, INC. CONSOLIDATED BALANCE SHEET (in thousands)

	December 31, 2024			December 31, 2023
Assets:
Current assets:
Cash and cash equivalents	$	16,992		$	4,082
Restricted cash		22,095			13,668
Accounts receivable, net of allowance for credit losses of $7.9 million and $5.3 million, respectively		18,965			8,017
Prepaid expenses and other assets		4,634			4,475
Derivative assets		1,403			2,103
Total current assets		64,089			32,345
Property and equipment, net		739,884			588,179
Investment in unconsolidated entity		10,943			—
Intangible assets, net		24,526			622
Other assets, net		2,479			314
Total assets	$	841,921		$	621,460
Liabilities:
Current liabilities:
Accounts payable	$	9,031		$	11,375
Accrued expenses		45,024			42,388
Current portion of debt, net of deferred loan costs		15,486			42,323
Deferred income		5,361			4,041
Federal and state income taxes payable		243			215
Other current liabilities		470			519
Total current liabilities		75,615			100,861
Long-term debt, net of deferred loan costs		635,904			587,099
Other long-term liabilities		793			49
Total liabilities		712,312			688,009
Commitments and contingencies
Redeemable preferred stock:
Series A convertible preferred stock, $0.01 par value; 41 shares authorized, 41 shares issued and outstanding as of December 31, 2024 and 2023		51,249			48,542
Equity:
Sonida’s shareholders’ equity (deficit):
Preferred stock, $0.01 par value:
Authorized shares — 15,000 as of December 31, 2024 and 2023; none issued or outstanding, except Series A convertible preferred stock as noted above		—			—
Common stock, $0.01 par value:
Authorized shares — 30,000 and 15,000 as of December 31, 2024 and 2023, respectively; 18,992 and 8,178 shares issued and outstanding as of December 31, 2024 and 2023, respectively		190			82
Additional paid-in capital		491,819			302,992
Retained deficit		(420,224	)		(418,165	)
Total Sonida shareholders’ equity (deficit)		71,785			(115,091	)
Noncontrolling interest:		6,575			—
Total equity (deficit)		78,360			(115,091	)
Total liabilities, redeemable preferred stock and equity (deficit)	$	841,921		$	621,460

SONIDA SENIOR LIVING, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)

	Years Ended December 31,
(In thousands)		2024			2023
Operating Activities
Net loss	$	(3,280	)	$	(21,107	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		44,051			39,888
Amortization of deferred loan costs		1,619			1,552
Loss on derivative instruments, net		3,950			2,981
(Gain) loss on sale of assets, net		(192	)		118
Long-lived asset impairment		—			5,965
Gain on extinguishment of debt		(48,536	)		(36,339	)
Loss from equity method investment		895			—
Provision for bad debt		2,596			1,151
Non-cash stock-based compensation expense		4,369			2,749
Other non-cash items		(35	)		(53	)
Changes in operating assets and liabilities:
Accounts receivable, net		(13,543	)		(3,249	)
Prepaid expenses and other assets		(156	)		2,918
Other assets, net		—			276
Accounts payable and accrued expenses		5,151			13,013
Federal and state income taxes receivable/payable		28			217
Deferred income		1,320			622
Customer deposits		(19	)		(19	)
Net cash provided by (used in) operating activities		(1,782	)		10,683
Investing Activities
Investments in unconsolidated entities		(22,409	)		—
Return of investment in unconsolidated entities		10,571			—
Acquisition of new communities		(172,546	)		—
Capital expenditures		(25,170	)		(17,938	)
Proceeds from sale of assets		631			1,376
Net cash used in investing activities		(208,923	)		(16,562	)
Financing Activities
Proceeds from issuance of common stock, net of issuance costs		190,537			10,000
Proceeds from notes payable		56,040			—
Repayments of notes payable		(72,026	)		(13,802	)
Proceeds from credit facility		68,705			—
Repayment of credit facility		(8,705	)		—
Proceeds from noncontrolling investors in joint ventures		7,796			—
Dividends paid on Series A convertible preferred stock		(2,818	)		—
Deferred loan costs paid		(3,726	)		(825	)
Purchase of derivative assets		(3,312	)		(2,362	)
Other financing costs		(449	)		(124	)
Net cash provided by (used in) financing activities		232,042			(7,113	)
Increase (decrease) in cash and cash equivalents		21,337			(12,992	)
Cash and cash equivalents and restricted cash at beginning of year		17,750			30,742
Cash and cash equivalents and restricted cash at end of year	$	39,087		$	17,750

DEFINITIONS

RevPAR, or average monthly revenue per available unit, is defined by the Company as resident revenue for the period, divided by the weighted average number of available units in the corresponding portfolio for the period, divided by the number of months in the period.

RevPOR, or average monthly revenue per occupied unit, is defined by the Company as resident revenue for the period, divided by the weighted average number of occupied units in the corresponding portfolio for the period, divided by the number of months in the period.

Same-Store Community is defined by the Company as communities that are consolidated, wholly owned, and operational for the full period in both comparison years. Consolidated communities excluded from the same-store community portfolio include communities acquired or disposed of since the beginning of the prior year and certain communities that have experienced a casualty event that has significantly impacted their operations.

NON-GAAP FINANCIAL MEASURES

This earnings release contains the financial measures (1) Net Operating Income and Adjusted Net Operating Income, (2) Net Operating Income Margin and Adjusted Net Operating Income Margin, (3) Adjusted EBITDA, and (4) Same-store amounts for these metrics, each of which is not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Presentations of these non-GAAP financial measures are intended to aid investors in better understanding the factors and trends affecting the Company’s performance and liquidity. However, investors should not consider these non-GAAP financial measures as a substitute for financial measures determined in accordance with GAAP, including net income (loss), income (loss) from operations, net cash provided by (used in) operating activities, or revenue. Investors are cautioned that amounts presented in accordance with the Company’s definitions of these non-GAAP financial measures may not be comparable to similar measures disclosed by other companies because not all companies calculate non-GAAP measures in the same manner. Investors are urged to review the reconciliations of these non-GAAP financial measures from the most comparable financial measures determined in accordance with GAAP, which are included below.

The Company believes that presentation of Net Operating Income, Net Operating Income Margin, Adjusted Net Operating Income, and Adjusted Net Operating Income Margin as performance measures is useful to investors because such measures are some of the metrics used by the Company’s management to evaluate the performance of the Company’s owned portfolio of communities, to review the Company’s comparable historic and prospective core operating performance of the Company’s owned communities, and to make day-to-day operating decisions. The Company also believes that the presentation of such non-GAAP financial measures and Adjusted EBITDA is useful to investors because such measures provide an assessment of operational factors that management can impact in the short-term, primarily revenues and the controllable cost structure of the organization, by eliminating items related to the Company’s financing and capital structure and other items that management does not consider as part of the Company’s underlying core operating performance and that management believes impact the comparability of performance between periods.

Net Operating Income, Net Operating Income Margin, Adjusted Net Operating Income and Adjusted Net Operating Income Margin have material limitations as performance measures, including the exclusion of general and administrative expenses that are necessary to operate the Company and oversee its communities. Furthermore, such non-GAAP financial measures and Adjusted EBITDA exclude (i) interest that is necessary to operate the Company’s business under its current financing and capital structure, and (ii) depreciation, amortization, and impairment charges that may represent the wear and tear and/or reduction in value of the Company’s communities and other assets and may be indicative of future needs for capital expenditures. The Company may also incur income/expense similar to those for which adjustments may be made and such income/expense may significantly affect the Company’s operating results.

Net Operating Income and Net Operating Income Margin

Net Operating Income and Net Operating Income Margin are non-GAAP performance measures that the Company defines as net income (loss) excluding: general and administrative expenses (inclusive of stock-based compensation expense), interest income, interest expense, other expense, provision for income taxes, management fees, and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, or organizational restructuring items that management does not consider as part of the Company’s underlying core operating performance and that management believes impact the comparability of performance between periods. For the periods presented herein, such other items include depreciation and amortization expense, long-lived asset impairment, gain on extinguishment of debt, loss from equity method investment, casualty loss, non-recurring settlement fees, non-income tax, and non-property tax. Net Operating Income Margin is calculated by dividing Net Operating Income by resident revenue. Adjusted Net Operating Income and Adjusted Net Operating Income Margin are further adjusted to exclude the impact from any non-recurring state grant funds received by the Company. The Company presents these non-GAAP measures on a consolidated community and same-store community basis

The following table presents a reconciliation of the Non-GAAP Financial Measures of Net Operating Income, Adjusted Net Operating Income, Net Operating Income Margin and Adjusted Net Operating Income Margin, in each case, on a consolidated community and same-store community basis to the most directly comparable GAAP financial measure of net loss for the periods indicated:

(in thousands)	Three Months Ended December 31,						Three Months Ended September 30,			Years Ended December 31,
		2024			2023			2024			2024			2023
Same-store community net operating income ⁽¹⁾
Net loss	$	(6,218	)	$	(14,629	)	$	(14,265	)	$	(3,280	)	$	(21,107	)
General and administrative expense		11,815			9,946			11,793			39,997			32,198
Depreciation and amortization expense		13,320			10,137			10,729			44,051			39,888
Long-lived asset impairment		—			—			—			—			5,965
Interest income		(302	)		(87	)		(853	)		(1,681	)		(608	)
Interest expense		9,596			9,673			9,839			36,990			36,118
Gain on extinguishment of debt, net		(10,388	)		—			—			(48,536	)		(36,339	)
Loss from equity method investment		714			—			146			895			—
Other expense, net		161			480			153			540			532
Provision for income taxes		46			48			68			239			253
Management fees		(916	)		(586	)		(1,151	)		(3,381	)		(2,191	)
Other operating expenses ⁽²⁾		1,220			1,279			630			2,834			3,193
Consolidated community net operating income		19,048			16,261			17,089			68,668			57,902
Net operating (income)loss for non same-store communities ⁽¹⁾		(3,020	)		—			(277	)		(3,232	)		—
Same-store community net operating income		16,028			16,261			16,812			65,436			57,902
Resident revenue	$	77,053		$	59,349		$	66,951		$	267,849		$	232,032
Resident revenue for non same-store communities ⁽¹⁾		14,125			—			3,915			18,409			—
Same-store community resident revenue		62,928			59,349			63,036			249,440			232,032
Same-store community net operating income margin		25.5	%		27.4	%		26.7	%		26.2	%		25.0	%

State relief grants⁽³⁾		—			—			—			—			2,926
Adjusted resident revenue		62,928			59,349			63,036			249,440			229,106
Adjusted community net operating income	$	16,028		$	16,261		$	16,812		$	65,436		$	54,976
Adjusted community net operating income margin		25.5	%		27.4	%		26.7	%		26.2	%		24.0	%

⁽¹⁾ Q4 2024 excludes 16 senior living consolidated communities acquired by the Company in 2024 (including one unoccupied community acquired on December 31, 2024). Q3 2024 excludes five senior living consolidated communities acquired by the Company. ⁽²⁾ Includes casualty loss, non-recurring settlement fees, non-income tax, and non-property tax. ⁽³⁾ State relief revenue are grants and other funding received from third parties due to the financial distress impacts of the pandemic and includes state relief funds received.

ADJUSTED EBITDA (UNAUDITED)

Adjusted EBITDA is a non-GAAP performance measure that the Company defines as net income (loss) excluding: depreciation and amortization expense, interest income, interest expense, other expense/income, provision for income taxes; and further adjusted to exclude income/expense associated with non-cash, non-operational, transactional, or organizational restructuring items that management does not consider as part of the Company’s underlying core operating performance and that management believes impact the comparability of performance between periods. For the periods presented herein, such other items include stock-based compensation expense, provision for bad debt, long-lived asset impairment, gain on extinguishment of debt, executive transition costs, casualty losses, and transaction and conversion costs.

The following table presents a reconciliation of the Non-GAAP Financial Measures of Adjusted EBITDA to the most directly comparable GAAP financial measure of net loss for the periods indicated:

(In thousands)	Three Months Ended December 31,						Three Months Ended September 30,			Years Ended December 31,
		2024			2023			2024			2024			2023
Adjusted EBITDA
Net loss	$	(6,218	)	$	(14,629	)	$	(14,265	)	$	(3,280	)	$	(21,107	)
Depreciation and amortization expense		13,320			10,137			10,729			44,051			39,888
Stock-based compensation expense		1,175			605			1,408			4,369			2,749
Provision for bad debt		1,086			568			629			2,596			1,151
Interest income		(302	)		(87	)		(853	)		(1,681	)		(608	)
Interest expense		9,596			9,673			9,839			36,990			36,118
Long-lived asset impairment		—			—			—			—			5,965
Gain on extinguishment of debt, net		(10,388	)		—			—			(48,536	)		(36,339	)
Executive transition costs		2,157			—			—			2,157			—
Other expense, net		161			480			153			540			532
Provision for income taxes		46			48			68			239			253
Casualty losses ⁽¹⁾		947			348			267			2,069			1,008
Transaction and conversion costs ⁽²⁾		768			2,159			2,098			3,730			4,294
Adjusted EBITDA	$	12,348		$	9,302		$	10,073		$	43,244		$	33,904

⁽¹⁾ Casualty losses relate to non-recurring insured claims for unexpected events. ⁽²⁾ Transaction and conversion costs relate to legal and professional fees incurred for transactions, restructuring projects, or related projects.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250317320436/en/

Investor Relations

Jason Finkelstein

Ignition IR

[email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Health Consumer Hospitals Seniors Other Health Managed Care

MEDIA:

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March 17, 2025 8:40 am

Daleep Singh, former U.S. deputy national security advisor, rejoins PGIM Fixed Income

Daleep Singh, former U.S. deputy national security advisor, rejoins PGIM Fixed Income

Singh named Vice Chair, Chief Global Economist and Head of Global Macroeconomic Research

NEWARK, N.J.–(BUSINESS WIRE)–
PGIM Fixed Income, one of the largest fixed income managers globally with $837 billion in assets under management, welcomes Daleep Singh back as vice chair, chief global economist and head of global macroeconomic research, effective April 21, 2025.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250317092417/en/

Daleep Singh, Vice Chair, Chief Global Economist and Head of Global Macroeconomic Research, PGIM Fixed Income

Singh rejoins PGIM Fixed Income after being reinstated as U.S. deputy national security advisor for international economics and deputy director of the National Economic Council in February 2024, a role he also held between February 2021 and June 2022. In this capacity, he served as former President Biden’s top international economics advisor, driving policy formulation at the intersection of economics and national security.

Singh previously served as PGIM Fixed Income’s global chief economist and head of macroeconomic research from June 2022 through February 2024, before he was once again called upon to serve at the White House.

Singh will report to Gregory Peters, co-chief investment officer for PGIM Fixed Income, and will be responsible for oversight of the global macroeconomic research team, which includes senior economists with extensive experience in the public and private sectors. As vice chair, he will also assume broad executive responsibilities including building out the firm’s global brand and serving on PGIM Fixed Income’s senior leadership team.

“Daleep is one of the most sought-after experts on the global economy, and we are thrilled to welcome him back to PGIM Fixed Income. Daleep’s extensive experience and insight at the highest levels of government will be fundamental in helping our firm navigate the increasingly complex macroeconomic and geopolitical forces driving global financial markets,” Peters said. “We look forward to the impact he’ll have on our organization and on investment outcomes for our clients.”

Before initially joining the Biden administration, Singh was executive vice president and head of the markets group at the New York Fed. From 2011 to 2017, he worked for the U.S. Department of the Treasury, including as acting assistant secretary for Financial Markets and deputy assistant secretary for Europe and Eurasia. Preceding his tenure at the Treasury Department, Singh spent eight years at Goldman Sachs focused on U.S. interest rates and emerging markets.

“I’m delighted to return to PGIM Fixed Income and grateful for the opportunity to take on a broader set of responsibilities to help the organization — and its clients — meet the transformative moment we’re in,” said Singh.

ABOUT PGIM FIXED INCOME

PGIM Fixed Income, with $837 billion in assets under management as of Dec. 31, 2024, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark,N.J., London, Amsterdam, Zurich, Munich, Paris, Singapore, Sydney, Hong Kong, and Tokyo. For more information, visit pgimfixedincome.com.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 41 offices across 19 countries, our more than 1,450 investment professionals serve both retail and institutional clients around the world.

As a leading global asset manager with $1.38 trillion in assets under management,¹ PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialized expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information, visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

¹As of Dec. 31, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250317092417/en/

MEDIA CONTACT

Kylie Scott

+1 908-313-5332

[email protected]

KEYWORDS: United States North America New Jersey

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Daleep Singh, Vice Chair, Chief Global Economist and Head of Global Macroeconomic Research, PGIM Fixed Income

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Greg Peters, Co-Chief Investment Officer, PGIM Fixed Income

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Posted on March 17, 2025 8:40 am
CenterWell, Icon Health Collaborate to Transform Musculoskeletal Care for Seniors

PR Newswire

Specialty care model introduced first in Palm Beach County

LOUISVILLE, Ky. and STAMFORD, Conn., March 17, 2025 /PRNewswire/ — Senior-focused primary care providers CenterWell Senior Primary Care^® and Conviva Senior Primary Care^® are now partnering with Icon Health, a leading provider of value-based musculoskeletal healthcare, to provide seniors with convenient access to quality, integrated musculoskeletal care in their primary care centers.

Musculoskeletal conditions, including back pain, arthritis, and joint injuries, are among the primary causes of disability in the senior population. These conditions often require coordinating care between orthopedic specialists, physical therapists and primary care physicians. The partnership embeds specialized advanced practice providers in the primary care centers to deliver care in-person and virtually, ensuring convenience for seniors while improving their health outcomes. This care model is available throughout Palm Beach County via virtual care delivery, or telehealth appointments, and in-person with specialists.

“This collaboration is advancing the delivery of whole-person musculoskeletal care,” said Dr. Evan Jacobs, Associate Vice President for Specialty Care at CenterWell and Conviva. “We’re encouraged by the early results showing that by integrating Icon Health’s specialized, team-based approach, we’re making it easier for our members to access comprehensive treatment. This is another way CenterWell and Conviva are partnering with specialty care providers to better address conditions prevalent among seniors.”

Specialist Value-Based Care Model Results in Better Outcomes
Icon’s value-based care model prioritizes early intervention, precise diagnosis and personalized treatment plans. Seniors will benefit from:

Virtual-First Access: Patients have increased access to musculoskeletal specialists providing convenient, timely care enhanced by evidence-based approaches.

Proactive Coordinated Care: Seniors receive continuous support from musculoskeletal specialists and care management technology that guide a multi-disciplinary approach.

Decision Support: Icon’s decision support tools help enable symptom identification, so patients quickly receive proactive care from specialized nurse practitioners that addresses their symptoms and underlying causes.

“This partnership reflects a shared commitment to advancing value-based care and delivering exceptional health outcomes,” said Duncan Sibson, Chief Executive Officer for Icon Health. “By partnering with CenterWell and Conviva Senior Primary Care, we’re bridging the gap between value-based primary care and specialty value-based musculoskeletal care.”

CenterWell and Conviva accept patients with Original Medicare and a wide range of Medicare Advantage plans. Icon Health accepts those same health plans, offering even more ease and convenience for patients.

For more information about CenterWell and Conviva, contact:
Lisa Ferguson
[email protected]

For more information about Icon Health, contact:
Duncan Sibson
[email protected]

About CenterWell
CenterWell Senior Primary Care and Conviva Senior Primary Care are part of CenterWell, a leading health care services business focused on creating integrated and differentiated experiences that put our patients at the center of everything we do. The result is high quality health care that is accessible, comprehensive, and most of all, personalized. As the largest provider of senior-focused primary care, one of the leading providers of home health care, and a leading integrated home delivery, specialty, hospice, and retail pharmacy, CenterWell is focused on whole health and addressing the physical, emotional and social wellness of our patients. CenterWell is part of Humana Inc. (NYSE: HUM). Learn more about what we offer at CenterWell.com.

About Icon Health

Icon Health is a leading provider of value-based musculoskeletal care, leveraging a virtual-first approach to deliver multidisciplinary, evidence-based treatment. Icon’s specialized care model ensures that each patient is paired with the optimal specialists, treatments, and recovery plans personalized for their individual MSK health needs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/centerwell-icon-health-collaborate-to-transform-musculoskeletal-care-for-seniors-302402890.html

SOURCE Icon Health

Posted on March 17, 2025 8:40 am
Bread Financial Provides Performance Update for February 2025

COLUMBUS, Ohio, March 17, 2025 (GLOBE NEWSWIRE) — Bread Financial ^® Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers, provided a performance update. The following tables present the Company’s net loss rate and delinquency rate for the periods indicated:

For the

month ended

February 28, 2025 For the

month ended

February 29, 2024

(dollars in millions)

End-of-period credit card and other loans $ 17,949 $ 18,391

Average credit card and other loans $ 18,141 $ 18,541

Year-over-year change in average credit card and other loans (2 %) (6 %)

Net principal losses $ 120 $ 131

Net loss rate 8.6 % 8.9 %

As of

February 28, 2025 As of

February 29, 2024

(dollars in millions)

30 days + delinquencies – principal $ 1,027 $ 1,130

Period ended credit card and other loans – principal $ 16,506 $ 16,962

Delinquency rate 6.2 % 6.7 %

About Bread Financial
^®
 

Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.

To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn. 

Forward-Looking Statements

This release contains 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. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,” “likely,” “may,” “should” or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions.

We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including ongoing wars and military conflicts and natural disasters; future credit performance, including the level of future delinquency and write-off rates; the loss of, or reduction in demand from, significant brand partners or customers in the highly competitive markets in which we compete; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including the amount of our Allowance for credit losses and our credit risk management models; the inability to realize the intended benefits of acquisitions, dispositions and other strategic initiatives; our level of indebtedness and ability to access financial or capital markets; pending and future federal and state legislation, regulation, supervisory guidance, and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; impacts arising from or relating to the transition of our credit card processing services to third party service providers that we completed in 2022; failures or breaches in our operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects or otherwise; and any tax or other liability or adverse impacts arising out of or related to the spinoff of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. (LVI) and certain of its subsidiaries and subsequent litigation or other disputes. In addition, the Consumer Financial Protection Bureau (CFPB) has issued a final rule that, absent a successful legal challenge, will place significant limits on credit card late fees, which would have a significant impact on our business and results of operations for at least the short term and, depending on the effectiveness of the mitigating actions that we have taken or may in the future take in anticipation of, or in response to, the final rule, may potentially adversely impact us over the long term; we cannot provide any assurance as to the effective date of the rule, the result of any pending or future challenges or other litigation relating to the rule, or our ability to mitigate or offset the impact of the rule on our business and results of operations. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and we undertake no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise.

Contacts

Brian Vereb — Investor Relations
[email protected]

Susan Haugen — Investor Relations
[email protected]

Rachel Stultz — Media
[email protected]

Posted on March 17, 2025 8:40 am
Bandwidth Puts IT Leaders in Control With AI-Ready, Software-Powered Cloud Communications at Enterprise Connect

PR Newswire

Bandwidth Maestro, prior winner of “Best of Enterprise Connect,” highlighted as the orchestration platform for best-in-class capabilities across voice AI, CCaaS, UCaaS

Bandwidth leaders to share expert insights in conference sessions

Enterprise IT teams invited to experience the future of cloud communications and meet with an expert at Booth 1411

ORLANDO, Fla.
, March 17, 2025 /PRNewswire/ — At the Enterprise Connect Conference & Expo beginning today, Bandwidth Inc. (NASDAQ: BAND) is showcasing how AI-ready, software-driven cloud communications empower enterprise IT leaders to take control, simplify complexity and deliver world-class customer and employee experiences.

As AI, fraud prevention, and cloud-to-cloud migrations reshape the enterprise communications landscape, Bandwidth is leading the way—helping global enterprises modernize infrastructure, future-proof operations and drive ROI with flexible, integrated solutions.

“Enterprise IT leaders today face big challenges to integrate voice AI, compose complex call flows, fight fraud, automate back-office functions and much more,” said Sandy Preizler, Bandwidth’s Chief Revenue Officer. “Bandwidth is the trusted partner to help enterprises simplify complexity and make future-proofed technology choices to deliver exceptional customer experiences worldwide.”

Experience Bandwidth Innovations at Booth 1411
Attendees visiting Bandwidth’s booth can meet with experts and experience live demonstrations of the company’s innovations, including:

Bandwidth Maestro

^™, the AI-ready enterprise communications platform that previously won Best of Enterprise Connect. Maestro exemplifies Bandwidth’s open strategy with the most bring-your-own-carrier (BYOC) integrations of any provider–giving IT leaders the most freedom and flexibility as they build their best-in-class communications tech stack.

AIBridge
, the voice AI enabler that lets enterprises easily integrate AI-driven customer experiences. AIBridge integrates pre-built or custom AI apps to accelerate enterprise voice AI adoption.

The Universal Platform
, which turbocharges the Bandwidth customer experience with faster onboarding, automated workflow management, assistance in complying with local requirements and deeper performance monitoring–all controlled with software APIs on a single platform experience.

Visual Builder
via Maestro, a powerful, no-code call flow orchestration and automation tool that lets enterprises compose, customize and deploy complex call routing with just a few clicks.

Voice Authentication
and Call Verification, which are AI and machine-learning powered tools that can automate fraud detection for secure and trusted customer interactions.

Bandwidth Voice & Messaging Insights & Alerts
, which provide real-time performance analytics to optimize call quality and message deliverability, helping enterprises make data-driven decisions to improve engagement.

Plus more innovative solutions on our roadmap, including expanding our portfolio of BYOC integrations and bolstering our Trust Services portfolio.

Bandwidth Experts Take the Stage
Beyond the booth, Bandwidth executives are featured in four key Enterprise Connect conference panels and two expo hall sessions to share their expertise on some of the industry’s most pressing challenges and opportunities:

Lauren Brockman, Senior Director of Product, “Is There a Case for a UC/Contact Center On-Prem or Private Cloud Strategy?” on March 18 at 8:45 am.

Sarah Delphey, Director of Global Trusted Solutions, and Marissa Brinkman, Solution Marketing Manager, “Mythbusting: How to Fix Improper Spam Call Labels” on March 18 at 2 pm (Expo Hall).

Travis Hinton, Vice President of Solution Marketing, “Modernizing Enterprise Communications: A Look at Viking, Doosan, Docusign and Cerner” on March 18 at 5:15 pm (Expo Hall).

John Bell, Chief Product Officer, “Programmable Communications for Business Continuity and Digital Transformation” on March 19 at 9:00 am.

Robin Erkkila, Solutions Engineer, “Best Practices for Implementing NG911” on March 19 at 9:00 am.

Sarah Delphey, Director of Global Trusted Solutions, “Building Trust in Outbound Calling Systems” on March 20 at 9:00 am.

Meet With A Bandwidth Expert

Enterprise IT leaders ready to take control of their cloud communications journey can click here to book a meeting or demo with a Bandwidth expert, or visit Booth 1411 at Enterprise Connect in Orlando, March 17-20.

About Bandwidth Inc.
Bandwidth (NASDAQ: BAND) is a global cloud communications software company that helps enterprises deliver exceptional experiences through voice calling, text messaging and emergency services. Our solutions and our Communications Cloud, covering 65+ countries and over 90 percent of global GDP, are trusted by all the leaders in unified communications and cloud contact centers–including Amazon Web Services (AWS), Cisco, Google, Microsoft, RingCentral, Zoom, Genesys and Five9–as well as Global 2000 enterprises and SaaS builders like Docusign, Uber and Yosi Health. As a founder of the cloud communications revolution, we are the first and only global Communications Platform-as-a-Service (CPaaS) to offer a unique combination of composable APIs, AI capabilities, owner-operated network and broad regulatory experience. Our award-winning support teams help businesses around the world solve complex communications challenges every day. For more information, visit Bandwidth.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bandwidth-puts-it-leaders-in-control-with-ai-ready-software-powered-cloud-communications-at-enterprise-connect-302402451.html

SOURCE Bandwidth Inc.

Posted on March 17, 2025 8:40 am
Adecoagro Continuing Discussions With Tether

PR Newswire

LUXEMBOURG
, March 17, 2025 /PRNewswire/ — Adecoagro S.A. (NYSE: AGRO) (the “Company”), a leading sustainable production company in South America, announces it is continuing discussions with Tether Investments S.A. de C.V. (“Tether“) on Tether‘s proposal to acquire outstanding Common Shares of the Company at a price of $12.41 per Common Share through a tender offer that would result in Tether collectively holding 51% of the outstanding Common Shares of the Company. The Company and Tether have agreed to extend the expiration date of the previously executed Exclusivity Letter through March 30, 2025.

No assurances can be given that a definitive agreement will be entered into, that any transaction will be consummated, or the timing, terms or conditions of any such transaction. The Company’s Board of Directors and management team are committed to enhancing shareholder value.

The Company does not intend to comment further on market speculation or disclose any developments unless and until it otherwise deems further disclosure is appropriate or required. The Company’s shareholders are not required to take any action at this time.

About Adecoagro:
Adecoagro is a leading sustainable production company in South America. Adecoagro owns 210.4 thousand hectares of farmland, and several industrial facilities spread across the most productive regions of Argentina, Brazil and Uruguay, where it produces over 2.8 million tons of agricultural products and over 1 million MWh of renewable electricity.

For questions please contact:
Victoria Cabello
IR Officer
Email: [email protected]

No Offer or Solicitation; Additional Information and Where to Find It
The tender offer referenced in this communication has not yet commenced. This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell securities. The solicitation and offer to buy the Company’s securities will only be made pursuant to an Offer to Purchase and related tender offer materials. At the time the tender offer is commenced, Tether will be required to file a tender offer statement on Schedule TO and thereafter the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 WILL CONTAIN IMPORTANT INFORMATION. THE COMPANY’S STOCKHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF THE COMPANY’S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SECURITIES. These materials will be made available to the Company’s stockholders at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s website at www.sec.gov. Copies of the documents filed by the Company with the SEC by will be available free of charge on the Company’s internet website at www.adecoagro.com or by contacting the Company’s investor relations department at [email protected].

Forward Looking Statements
This release contains information that may constitute forward-looking statements for purposes of applicable securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as “anticipate,” “estimate,” “expect,” “believe,” “will likely result,” “outlook,” “project” and other words and expressions of similar meaning. Investors are cautioned not to place undue reliance on forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of the Company’s Form 20-F for the fiscal year ended December 31, 2023 and subsequent filings with the SEC. The Company may not succeed in addressing these and other risks. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this release.

View original content:https://www.prnewswire.com/news-releases/adecoagro-continuing-discussions-with-tether-302403041.html

SOURCE Adecoagro S.A.

Posted on March 17, 2025 8:40 am
SaverOne Regains Compliance with Nasdaq Minimum Bid Price Requirement

Petah Tikvah, Israel, March 17, 2025 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), today announced that it received formal written confirmation from The Nasdaq Stock Market, LLC (“Nasdaq”) confirming that the Company has regained compliance with Nasdaq’s minimum bid price requirement. The regaining of compliance is a result of the Company’s closing bid price of the Company’s American Depository Shares (ADS) being at least $1.00 for at least the preceding 10 consecutive business days.

The closing bid price of the ADS has been above $1.00 or greater per ADS for more than 10 consecutive business days from February 21, 2025. Accordingly, Nasdaq Listing Qualifications Staff has notified the Company that it has determined that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2).

About the SaverOne System

SaverOne’s system is installed in vehicles to solve the problem of driver distraction, as a result of drivers using distracting applications on their mobile phones while driving in a way that endangers their safety and the safety of their passengers. This phenomenon is considered one of the leading causes of global road accidents. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States stands at about $870 billion each year, excluding the costs of serious injury or death, with a quarter of those accidents estimated to be related to the use of the mobile phones while driving. SaverOne’s technology specifically recognizes the driver area in the vehicle. It prevents the driver from accessing distracting applications such as messaging while allowing others (navigation as an example) without user intervention or consent, creating a safer driving environment.

SaverOne’s primary target markets include commercial and private vehicle fleets interested in reducing potential damages and significant costs, vehicle manufacturers interested in integrating safety solutions into their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with a focus on the Israeli, European, and US markets and other markets worldwide. SaverOne believes that an increased focus on monitoring and prevention of cellular distraction systems in vehicles, driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.

The Company’s strategy is to provide its technology to customers in the aftermarket and address OEM vehicle manufacturers to integrate the Company’s protection technologies during the vehicle manufacturing process.

About SaverOne

SaverOne is a technology company that designs, develops, and commercializes OEM and aftermarket solutions and technologies to lower the risk of and prevent vehicle accidents.

SaverOne’s initial product line is a suite of solutions that saves lives by preventing car accidents resulting from distraction from using mobile phones while driving. SaverOne is also developing a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) through their cellphone footprint.

Learn more at https://saver.one/

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws that are subject to substantial risks and uncertainties. All statements, besides those of historical fact, contained in this press release are forward-looking. Forward-looking statements contained in this press release include but are not limited to, statements regarding SaverOne’s strategic and business plans, technology, relationships, objectives, and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations, and financial performance and condition and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions. However, not all forward-looking statements contain these words. Forward-looking statements are based on SaverOne’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions about future events that may not prove accurate. Many factors could cause SaverOne’s actual activities or results to differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: SaverOne’s ability to maintain its listing on the Nasdaq Capital Market; the ability of SaverOne’s technology to substantially improve the safety of drivers; its ability to market and sell its products; its plans to continue to invest in research and development to develop technology for both existing and new products; SaverOne’s intention to advance its technologies and commercialization efforts; SaverOne’s intention to use local distributors in each country or region in which it conducts business to distribute products or technology; SaverOne’s plan to seek patent, trademark and other intellectual property rights for products and technologies in the United States and internationally, as well as its ability to maintain and protect the validity of currently held intellectual property rights; SaverOne’s expectations regarding future changes in its cost of revenues and operating expenses; SaverOne’s expectations regarding its tax classifications; interpretations of current laws and the passage of future laws; acceptance of its business model by investors; the ability to correctly identify and enter new markets; the impact of competition and new technologies; general market, political and economic conditions in the countries in which SaverOne operates; projected capital expenditures and liquidity; SaverOne’s intention to retain key employees, and its belief that it will maintain good relations with all employees; a resurgence of the COVID-19 pandemic and its impact on business and industry; as well as other risks and uncertainties, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 25, 2024 and in subsequent filings with the SEC. Forward-looking statements in this announcement are made as of this date, and SaverOne undertakes no duty to update such information except as required under applicable law.

International Investor Relations Contact:

Ehud Helft
+1 212 378 8040
[email protected]

Posted on March 17, 2025 8:39 am
NYIAX Technology Platform Powered by Nasdaq Collaborates with Datavault AI’s Patented Information Data Exchange® through Co-Marketing and Technology Alliance

NYIAX Technology Platform Powered by Nasdaq Collaborates with Datavault AI’s Patented Information Data Exchange® through Co-Marketing and Technology Alliance

Unlocking New Revenue Streams: Transforming Real-World Assets and Data into Financial Opportunities

BEAVERTON, Ore.–(BUSINESS WIRE)–Datavault AI Inc. (Nasdaq: DVLT), a leader in AI-driven data experience, valuation, and monetization, today announced a multi-year commercial and intellectual property (IP) alliance with NYIAX, a pioneer in transparent trading technology built on the Nasdaq financial framework. This partnership will integrate Datavault AI’s patented Information Data Exchange® (IDE) and award-winning Data Vault® platform with NYIAX’s cutting-edge blockchain exchange technology. The collaboration leverages NYIAX’s capabilities, enabling businesses to scale, list, price, and trade data and digital assets efficiently, creating new revenue opportunities. With the increasing recognition of data as a strategic financial asset, this partnership provides businesses with the infrastructure to monetize data in a secure and scalable environment, bridging the gap between data valuation and liquidity.

Market Impact and Growth Potential

The global data monetization market is expected to exceed $700 billion by 2025¹, fueled by the rising demand for platforms that convert data into financial assets.

“Companies possess data with untapped economic value that can generate significant revenue,” said Teri Gallo, CEO of NYIAX. “This alliance establishes a structured market where data is traded like traditional assets, offering businesses greater valuation transparency and liquidity.”

Key Highlights of the Alliance:

Seamless, Transparent Trading – Leveraging the joint NYIAX-Nasdaq patented technology and Datavault AI’s Information Data Exchange®, this collaboration establishes the most robust cross-sector data-trading platform.

AI-Powered Data Monetization – Datavault AI’s high-performance computing and AI agents will enhance NYIAX’s capabilities in advertising, digital asset trading and data exchanges.

Scalable and Secure Transactions – Datavault AI and NYIAX will develop cyber-secure, scalable, and regulatory-compliant real-time transactions with built-in audit trails.

Next-Generation Web 3.0 Monetization – The integration introduces tokenized data exchanges, allowing AI-driven real-time pricing, valuation, and liquidity management.

Nathaniel Bradley, CEO of Datavault AI, emphasized the transformative potential of this partnership:

“This is a breakthrough for businesses looking to unlock financial value from their data. By integrating the Information Data Exchange® with NYIAX’s platform built on co-developed patents with Nasdaq, we are enabling a new era of AI-driven data monetization. Our customers gain access to secure, real-time valuation and trading mechanisms, helping them capitalize on the expanding data economy. The integration introduces multi-sector, tokenized data exchanges, enabling AI agents that provide for real-time pricing, scoring and liquidity estimations while ensuring transactional integrity and compliance. Web 3.0 solutions, including Datavault AI agents DataValue®, DataScore®, and Data Vault Bank® enable automated smart contract administration, data completeness accuracy and Information Data Exchange provides for bid/ask data exchange management.”

Opportunity and Business Implications

Through this collaboration, Datavault AI and NYIAX create a direct financial pathway for data monetization within NYIAX’s industry-leading Smart Contract trading platform, providing businesses with a clear mechanism to convert proprietary data into a liquid asset.

The partnership delivers a structured, scalable revenue model that enables businesses to leverage AI and blockchain for:

Automated smart contract execution ensuring data integrity.

Transparent price discovery for data assets.

Enhanced market liquidity through tokenized trading solutions.

About Datavault AI Inc.

Datavault AI Inc. (Nasdaq: DVLT) is a leading data technology and licensing company focused on AI-driven data valuation and monetization. Through its cloud-based Web 3.0 platform, Datavault AI offers solutions in high-performance computing, experiential data perception, and secure monetization.

Learn more at: www.dvlt.ai

About NYIAX

Founded with a vision of delivering trust and transparency to the markets of tomorrow, NYIAX brings a new wave of innovation to the advertising industry — solving the industry’s most pressing challenges.

Built on the Nasdaq Financial Framework and powered by blockchain, NYIAX’s patented technology addresses market inefficiencies, fraud, supply chain opacity, and outdated legacy processes. By unifying direct and programmatic workflows, NYIAX streamlines the entire media process from discovery to billing, creating a marketplace designed for the future that buyers and sellers have long sought.

For more information, visit: www.nyiax.com

Cautionary Note Regarding Forward-Looking Statements

This press release of Datavault AI contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, include, among others, the Company’s expectations with respect to the strategic business and intellectual property agreements (the “Agreements”), including statements regarding the benefits of the Agreements, the implied valuation of the Company, the products offered by the Company and the markets in which it operates, and the Company’s projected future results and market opportunities, as well as information with respect to Datavault AI’s future operating results and business strategy. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) risks and uncertainties impacting Datavault AI’s business including, risks related to its current liquidity position and the need to obtain additional financing to support ongoing operations, Datavault AI’s ability to continue as a going concern, Datavault AI’s ability to maintain the listing of its common stock on Nasdaq, Datavault AI’s ability to predict the timing of design wins entering production and the potential future revenue associated with design wins, Datavault AI’s ability to predict its rate of growth, Datavault AI’s ability to predict customer demand for existing and future products and to secure adequate manufacturing capacity, consumer demand conditions affecting Datavault AI’s customers’ end markets, Datavault AI’s ability to hire, retain and motivate employees, the effects of competition on Datavault AI’s business, including price competition, technological, regulatory and legal developments, developments in the economy and financial markets, and potential harm caused by software defects, computer viruses and development delays, (ii) risks related to Datavault AI’s ability to realize some or all of the anticipated benefits from the Agreements, any risks that may adversely affect the business, financial condition and results of operations of Datavault AI after the completion of the Agreements, including but not limited to cybersecurity risks, the potential for AI design and usage errors, risks related to regulatory compliance and costs, potential harm caused by data privacy breaches, digital business interruption and geopolitical risks, and (iii) other risks as set forth from time to time in Datavault AI’s filings with the U.S. Securities and Exchange Commission. The information in this press release is as of the date hereof and the Company undertakes no obligation to update such information unless required to do so by law. The reader is cautioned not to place under reliance on forward looking statements. The Company does not give any assurance that the Company will achieve its expectations.

¹Data Monetization Market to touch US$ 708.86 Bn by 2025 – TMR

View source version on businesswire.com: https://www.businesswire.com/news/home/20250317242359/en/

Investor and Media Contacts

Investors:

David Barnard, Alliance Advisors Investor Relations

(415) 433-3777

[email protected]

Media Inquiries:

Sonia Choi

(844) DATA-400

[email protected]

KEYWORDS: United States North America Oregon

INDUSTRY KEYWORDS: Technology Mobile/Wireless Audio/Video Web3 Blockchain Finance Professional Services Artificial Intelligence Other Technology Marketing Software Communications Data Management Consumer Electronics

MEDIA:

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Posted on March 17, 2025 8:39 am
Venu Holding Corporation Teams up with Connect Partnership Group to Accelerate Corporate Sales and Partnership Strategy

Venu Holding Corporation Teams up with Connect Partnership Group to Accelerate Corporate Sales and Partnership Strategy

COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–
Venu Holding Corporation (“VENU” or the “Company”) (NYSE American: VENU), today announced a strategic alliance with Connect Partnership Group, a leading sales and consulting agency, to serve as its official sponsorship sales partner. The collaboration is designed to accelerate VENU’s comprehensive corporate partnership strategy, driving revenue growth, maximizing brand alignment opportunities, and capitalizing on the Company’s expanding portfolio of entertainment properties.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250317995622/en/

Connect Partnership Group & Venu Holding Corporation

Leading this initiative is VENU’s Chief Marketing Officer, Terri Liebler. With more than 30 years experience in the sports and entertainment sales industry, Terri has a proven track record of driving success. Through this partnership, VENU anticipates generating tens-of-millions in sponsorship revenue by 2029 across its growing portfolio. The partnership will enhance VENU’s ability to cultivate high-value relationships with top-tier brands, building on existing alliances with partners such as NFL Hall of Famer Troy Aikman’s EIGHT Beer, Ford Dealerships, and Kaiser Permanente.

Terri Liebler, Chief Marketing Officer of VENU, added, “VENU’s approach to entertainment is unlike any other. Creating ultimate desinations that captivate audiences. We need a sales partner that will match that energy. Connect Partnership Group has the proven track record to take our strategy to new heights, bringing brands to the table that not only align with our vision but truly resonate with our music fans. The future of VENU is brighter than ever. Through this collaboration, we’re elevating our venues with premium brand integrations, ensuring deserving fans get the top-tier experiences they expect.”

“At Connect Partnership Group, we specialize in bringing brands and entertainment properties together in meaningful ways that deliver on both parties’ business objectives,” said Danielle Shuff, Founder and Co-CEO at Connect Partnership Group. “VENU is creating world-class entertainment destinations, and we’re excited to help drive their sponsorship strategy forward. This partnership is a perfect alignment of vision and expertise, and we look forward to delivering results that will elevate VENU’s brand and business.”

VENU’s Business Model: Seven Revenue Streams Driving Growth

VENU’s business model leverages seven distinct revenue streams, reinforcing its position as a disruptive force in the live entertainment industry. The Company generates substantial income through sponsorships and partnerships, which include naming rights, in-venue activations, and brand collaborations. Ticket sales and fees contribute significantly, driven by national touring acts, VIP experiences, and premium seating options. Food and beverage sales from upscale dining and beverage services further enhance revenue across VENU’s facilities. Parking and venue rentals generate additional income through event-related parking fees and facility leasing, while licensing agreements, strategic partnerships, and premium hospitality services generate additional fee income.

Source: Venu Holding Corporation

About Venu Holding Corporation

Venu Holding Corporation (“VENU”) (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to crafting luxury, experience-driven entertainment destinations. VENU’s campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 8,000-seat Ford Amphitheater. Expanding with new Sunset Amphitheaters in Oklahoma and Texas, VENU’s upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU’s vision of redefining the live entertainment experience. Click here for company overview.

VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Lager, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit venu.live

About Connect Partnership Group

Connect Partnership Group is a leading sales and consulting agency that specializes in representing and selling partnerships, naming rights and media in sports, entertainment and mixed-use real estate environments, while also providing an experienced business development team to companies that sell products and services to Large Public Venues. Headquartered in Dallas, with teams in New York, Chicago, Boston, Washington D.C. and Phoenix, Connect capitalizes on decades of experience selling and activating partnerships, operating events, and consulting on behalf of Fortune 500 companies.

For more information, visit www.ConnectWins.com

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250317995622/en/

Media Relations

Chloe Hoeft

Venu Holding Corporation (“VENU”)

719-895-5470

[email protected]

Investor Relations

Dave Gentry

RedChip Companies, Inc.

1-407-644-4256

[email protected]

KEYWORDS: United States North America Colorado

INDUSTRY KEYWORDS: Consulting Advertising Communications General Entertainment Licensing (Entertainment) Professional Services Events/Concerts Entertainment

MEDIA:

Photo

Connect Partnership Group & Venu Holding Corporation

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Posted on March 17, 2025 8:39 am
Wyndham Rewards Launches Industry-First U.S. Debit Card

PR Newswire

Developed in collaboration with Galileo Financial Technologies, SoFi’s Technology Platform, new Mastercard offers elevated membership status, booking discounts and easy point earning on everyday spend

PARSIPPANY, N.J.
, March 17, 2025 /PRNewswire/ — Cash-savvy travelers now have a new way to earn Wyndham Rewards^® points on their everyday spend thanks to the launch of the Wyndham Rewards Debit Card—a first of its kind offering from a major hospitality brand in the U.S.

Designed for younger travelers as well as those who prefer a debt-free lifestyle, the Wyndham Rewards Debit Card makes it easy to earn Wyndham Rewards points on day-to-day transactions, from gas and groceries, to dining, retail and more. Points can be redeemed for a wide-range of rewards—including free nights at more than 60,000 hotels, vacation club resorts and vacation rentals globally—while other cardholder perks include complimentary Wyndham Rewards Gold level membership, hotel booking discounts, a rich annual point bonus and more.

“Research continues to show a large number of travelers, particularly younger consumers such as Gen Z, prefer debit cards as their primary method of payment. Unfortunately, that means many have been left on the sidelines when it comes to earning free hotel nights and other travel rewards. With the Wyndham Rewards Debit Card, that’s no longer the case. Now anyone and everyone can earn points on their day-to-day purchases and in turn, enjoy meaningful rewards.”

– Charmaine Taylor, SVP, Strategic and Financial Partnership, Wyndham Hotels & Resorts

A recent EY study from just last year found that nearly 70% of Gen Z consumers use their debit cards once or more per week. At the same time, research last summer from PMG shows travel as a key area of spend for Gen Z, 65% of whom intend to spend more on travel in 2025 and nearly 60% of whom consider loyalty programs essential when booking their travel.

Key benefits of the new Wyndham Rewards Debit Card include:

Easy Point Earning: Earn one Wyndham Rewards point per dollar spent on eligible Hotels by Wyndham, gas, and grocery purchases; and one Wyndham Rewards point per two dollars spent on all other qualifying purchases.¹

Upgraded Status: Enjoy Wyndham Rewards GOLD level membership and unlock perks like accelerated points earning, preferred rooms, late checkout and more.⁵

Welcome Bonus: Kickstart your rewards journey with 2,500 Wyndham Rewards bonus points after opening your account, making at least two direct deposits and spending $100 in the first 90 days.²

Annual Bonus: Receive up to 7,500 bonus points each year on your card anniversary— enough for a free night at thousands of Hotels by Wyndham worldwide.³

Card Member Booking Discount: Save even more for stays at participating Hotels by Wyndham.⁶

Waived Monthly Fee: Pay only a $6 Monthly Fee, which is waived with a minimum average monthly account balance of $2,500.⁴

Waived ATM Fees: Pay no surcharges when using an ATM in the Cirrus network.⁷

The Wyndham Rewards Debit Card is powered by Galileo Financial Technologies, SoFi’s Technology Platform, and is issued by Sunrise Banks N.A. and backed by Mastercard as the payments network.

“People who use debit are often overlooked by traditional rewards programs, which is what makes this card—a first of its kind in the hospitality space—so special. What’s more, with the help of Galileo, Wyndham was able to stand its offering up in just a few months. That’s the power of our platform. By bringing together card issuing, processing, Cyberbank Digital and program management, brands can launch quickly and efficiently, delivering innovative financial products that strengthen customer relationships and drive revenue.”

– Derek White, CEO, Galileo Financial Technologies

“Brands are looking for payment products that enhance loyalty and deepen the relationship they have with consumers. The new Wyndham Rewards Debit Card unlocks access to rewards and benefits curated to enhance consumer value while enjoying their passion for travel.”

– Chiro Aikat, Co-President of the United States, Mastercard

The Wyndham Rewards Debit Card complements Wyndham’s existing suite of credit card offerings, including the Wyndham Rewards Earner^® Plus Card, Wyndham Rewards Earner^® Card and Wyndham Rewards Earner^® Business Card. The award-winning suite of cards—designed specifically for road trippers and road warriors—offers up to 8x earn on gas purchases and Wyndham hotel stays, up to 5x earn on marketing, advertising and utility purchases (Wyndham Rewards Earner Business Card only) and up to 4x earn on restaurant and grocery purchases. Other benefits include Wyndham Rewards membership upgrades, booking discounts, anniversary bonuses and more. Terms and conditions apply. Sunrise Banks is not affiliated with the Wyndham Rewards Earner® Plus Card, Wyndham Rewards Earner® Card or Wyndham Rewards Earner® Business Card.

For more information on the card and its benefits, including how to open an account, visit wyndhamrewardscards.com/debit-card. Terms and conditions apply.

Banking services provided by Sunrise Banks N.A., Member FDIC. The Wyndham Rewards Debit Card is issued by Sunrise Banks N.A., Member FDIC pursuant to a license from Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. This card may be used everywhere Debit Mastercard is accepted. Use of this card constitutes acceptance of the terms & conditions stated in the Account Agreement.

Images associated with this release can be found here.

About Wyndham Rewards
Part of Wyndham Hotels & Resorts (NYSE: WH), the world’s largest hotel franchising company, Wyndham Rewards is the #1 hotel rewards program as named by both U.S. News & World Report and USA Today. Members—approximately 114 million enrolled around the world—earn a guaranteed 1,000 points with every qualified stay and can redeem for free nights starting at just 7,500 points. With more than 60,000 hotels, vacation club resorts and vacation rentals globally, no other hotel rewards program is more generous or offers members more places to stay. Join for free at WyndhamRewards.com.

About Galileo Financial Technologies

Galileo Financial Technologies

, LLC and certain of its affiliates collectively comprise a financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI) that enables fintechs, financial institutions, and emerging and established brands to build differentiated financial solutions that deliver exceptional, customer-centric experiences. Through modern, open APIs, Galileo’s flexible, secure, scalable and fully integrated platform drives innovation across payments and financial services. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning, tailored and differentiated financial products and more, across industries and geographies.

©2025 Galileo Financial Technologies, LLC. All rights reserved. Galileo Financial Technologies, LLC is a technology company, not a bank. Galileo partners with many issuing banks to provide banking services in North and Latin America.

About Sunrise Banks
Sunrise Banks is no ordinary bank; we strive to be a place where money and values meet for our customers and our communities. We do this by prioritizing social responsibility, community impact and environmental sustainability alongside our essential financial products and services. Sunrise Banks is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation earned by approximately 100 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Visit sunrisebanks.com to learn more. Member FDIC.

Terms and Conditions

¹ Link your Wyndham Rewards Member Account to your eligible Wyndham Rewards Debit Card to earn points on qualifying transactions. Returns, refunds, and adjustments are excluded. Points will be awarded after the close of each Card Account monthly statement. There is no limit to the total points you can earn as long as the Wyndham Rewards Program remains active and your Card Account is open, active, and in good standing. Restrictions apply. See the Account Agreement and Points Earning Terms for full details on eligibility, qualifying transactions, and restrictions.

²You are eligible to receive a one-time bonus of 2,500 Points when you satisfy both of the following requirements within 90 days of Card Account opening: (1) establish and receive at least 2 direct deposits, recurring monthly or more frequently, and (2) make at least $100 in Net Purchases using your Card. Net Purchases are all purchases made using the Card, excluding any returns, refunds, or adjustments.

³So long as the Card Account is open, active and in good standing, you are eligible to earn bonus Points based on annual spend each anniversary year as follows:

Annual Net Purchases

Anniversary Bonus Points Awarded

$5,000.00 – $9,999.99

2,500 Points

$10,000.00 – $14,999.99

5,000 Points

$15,000.00.00 and above

7,500 Points

⁴This fee will be waived for any statement cycle during which you maintain an average monthly balance of at least $2,500 in your Card Account. Other fees may apply. See terms and conditions for details.

⁵To qualify for a Complimentary Gold member level, you must be an Eligible Member. For more information about eligibility, Member Levels including the perks available to Gold Members, visit wyndhamrewards.com/levels .

⁶You will receive an additional discount when booking the Wyndham Rewards Member Rate at participating properties; for more information, please visit WyndhamRewards.com/terms/cardmemberrate for additional details.

⁷Out-of-network ATM withdrawals are subject to a $3 fee, and ATM operators may impose their own additional fees.

View original content to download multimedia:https://www.prnewswire.com/news-releases/wyndham-rewards-launches-industry-first-us-debit-card-302403003.html

SOURCE Wyndham Hotels & Resorts

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