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Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend

Atlantic Union Bankshares Corporation Declares Quarterly Common Stock Dividend and Preferred Stock Dividend

RICHMOND, Va.–(BUSINESS WIRE)–
The Board of Directors (the “Board”) of Atlantic Union Bankshares Corporation (the “Company”) has declared a quarterly dividend of $0.34 per share of common stock, which is the same as the first quarter of 2025 and a $0.02, or an approximately 6%, increase from the dividend in the second quarter of 2024. Based on the Company’s common stock closing price of $29.10 on May 5, 2025, the dividend yield is approximately 4.7%. The common stock dividend is payable on June 6, 2025 to common shareholders of record as of May 23, 2025.

The Board also declared a quarterly dividend on the outstanding shares of the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A (the “Series A preferred stock”). The Series A preferred stock is represented by depositary shares, each representing a 1/400th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on June 2, 2025 to holders of record as of May 16, 2025.

About Atlantic Union Bankshares Corporation

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located throughout Virginia and in portions of Maryland and North Carolina. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

Bill Cimino, Senior Vice President and Director of Investor Relations 804.448.0937

KEYWORDS: United States North America Virginia

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Cytokinetics Reports First Quarter 2025 Financial Results and Provides Business Update

PDUFA Date for Aficamten in Obstructive HCM Extended by FDA to December 26, 2025

Topline Results from MAPLE-HCM Expected in May

Enrollment Completed in ACACIA-HCM; Topline Results Expected in 1H 2026

~$1.1 Billion in Cash, Cash Equivalents and Investments as of March 31, 2025

SOUTH SAN FRANCISCO, Calif., May 06, 2025 (GLOBE NEWSWIRE) — Cytokinetics, Incorporated (Nasdaq: CYTK) reported a management update and financial results for the first quarter of 2025.

“In the first quarter, we made progress towards commercial readiness and advanced our specialty cardiology pipeline,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “Recently, our PDUFA date for aficamten in obstructive HCM was extended by FDA to provide time to review a REMS submission made at the Agency’s request subsequent to the initial NDA filing acceptance. We remain confident in the distinct benefit-risk and pharmaceutic profile of aficamten, and our top priority is bringing this potential therapy to patients. This month, we also expect to report topline results from MAPLE-HCM, and we continue conduct of ACACIA-HCM, for which we have now completed enrollment of patients. With a strong balance sheet and prudent attention to capital deployment, we are well positioned to deliver across regulatory, clinical and commercial milestones.”

Q1 and Recent Highlights


Cardiac Muscle Programs


aficamten
 (cardiac myosin inhibitor)

  • The U.S. Food & Drug Administration (FDA) extended the Prescription Drug User Fee Act (PDUFA) target action date for the New Drug Application (NDA) for aficamten for the treatment of patients with obstructive hypertrophic cardiomyopathy (HCM) to December 26, 2025. Following pre-NDA discussions with FDA in which safety and risk mitigation were discussed, Cytokinetics submitted the NDA for aficamten in obstructive HCM without an accompanying REMS and the FDA accepted the NDA for filing. During the NDA review, the FDA requested that Cytokinetics submit a REMS consistent with the inherent characteristics of aficamten, which the company provided. The submission of a REMS has now been determined by FDA to be a Major Amendment to the NDA resulting in a standard three-month extension to the original PDUFA action date. No additional clinical data or studies have been requested of Cytokinetics by FDA.
  • Completed a mid-cycle review meeting with FDA for the NDA for aficamten. The FDA indicated that it does not plan to convene an Advisory Committee meeting to review the NDA for aficamten. We expect to participate in a late-cycle meeting with the FDA in June.
  • Received Day 120 List of Questions from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) regarding the Marketing Authorization Application (MAA) for aficamten for the treatment of obstructive HCM and have begun to prepare responses.
  • Continued to support the review of the NDA for aficamten for obstructive HCM by the Center for Drug Evaluation (CDE) in China.
  • Advanced the ongoing clinical trials program for aficamten:
    • Continued conduct of MAPLE-HCM (Metoprolol vs Aficamten in Patients with LVOT Obstruction on Exercise Capacity in HCM), a Phase 3 clinical trial comparing aficamten as monotherapy to metoprolol as monotherapy in patients with symptomatic obstructive HCM. We expect to share topline results in May 2025.
    • Completed enrollment in the primary cohort (excluding Japan) of ACACIA-HCM (Assessment Comparing Aficamten to Placebo on Cardiac Endpoints In Adults with Non-Obstructive HCM), a pivotal Phase 3 clinical trial of aficamten in patients with non-obstructive HCM, in Q1 2025, ahead of schedule and with over 500 patients enrolled, surpassing the original enrollment target. We expect to share topline results in 1H 2026.
    • Updated the primary endpoint for ACACIA-HCM from a single primary endpoint of change in Kansas City Cardiomyopathy Questionnaire (KCCQ) Clinical Summary Score to a dual primary endpoint of change in KCCQ Clinical Summary Score and change in maximal exercise performance (peak VO2) from baseline to Week 36. This change in the primary endpoint is intended to unify the protocol and statistical analysis plans across regions in response to feedback from global regulators. The update to the primary endpoint does not change conduct of the clinical trial.
    • Conducted start-up activities for the Japan cohort of ACACIA-HCM with enrollment expected to begin in Q2 2025 to support regulatory activities in Japan.
    • Continued enrolling patients in CEDAR-HCM (Clinical Evaluation of Dosing with Aficamten to Reduce Obstruction in a Pediatric Population in HCM), a clinical trial of aficamten in a pediatric population with symptomatic obstructive HCM. We expect to complete patient enrollment of the adolescent cohort in 2H 2025.
    • Completed conduct of the Phase 1 study of aficamten in healthy Japanese and Caucasian participants.
  • Presented new analyses at the American College of Cardiology Annual Scientific Session and Expo related to aficamten expanding on its metabolic pathways, combination therapy with disopyramide and longer-term effects on cardiac structure and function.
  • Expanded U.S. commercial readiness activities for aficamten including initiating sales force recruiting. Continued building our bespoke patient support programs by contracting with strategic partners and finalizing the design of our customer-facing teams. Confirmed channel distribution partners and continued market research on our promotional launch campaign.
  • Advanced European commercial readiness activities including hiring key leadership positions in Europe, establishing new regional entities in France and the U.K., validating our reimbursement strategy and began developing our Health Technology Assessment (HTA) dossiers.
  • Published the following manuscripts:
    • “Aficamten and Disopyramide in Symptomatic Obstructive Hypertrophic Cardiomyopathy” in the Journal of the American College of Cardiology: Heart Failure
    • “Aficamten vs Metoprolol for Obstructive Hypertrophic Cardiomyopathy: MAPLE-HCM Rationale, Study Design, and Baseline Characteristics” in the Journal of the American College of Cardiology: Heart Failure
    • “Effect of Hepatic Impairment or Renal Impairment on the Pharmacokinetics of Aficamten” in Clinical Pharmacokinetics
    • “Clinical Evaluation of the Effect of Aficamten on QT/QTc Interval in Healthy Participants” in Clinical and Translational Science
    • “A Characterization of the Nonclinical Pharmacology and Toxicology of Aficamten, a Reversible Allosteric Inhibitor of Cardiac Myosin” in the International Journal of Toxicology


omecamtiv mecarbil
 (cardiac myosin activator)

  • Continued conduct of COMET-HF (Confirmation of Omecamtiv MecarbilEfficacy Trial in Heart Failure), a confirmatory Phase 3 clinical trial of omecamtiv mecarbil in patients with symptomatic heart failure with severely reduced ejection fraction. We expect to continue enrollment through 2025 to enable completion of enrollment in 2026.

CK-4021586 (CK-586, cardiac myosin inhibitor)

  • Continued conduct of AMBER-HFpEF (Assessment of CK-586 in a Multi-Center, Blinded Evaluation of Safety and Tolerability Results in HFpEF), a Phase 2 clinical trial of CK-586 in patients with symptomatic heart failure with preserved ejection fraction (HFpEF) with left ventricular ejection fraction (LVEF) ≥ 60%. We expect to complete patient enrollment of the first two cohorts in 2H 2025.

CK-4015089 (CK-089, fast skeletal muscle troponin activator)

  • Conducted the initial single ascending dose cohorts of the Phase 1 randomized, double-blind, placebo-controlled clinical study of CK-4015089 (CK-089) in healthy human participants.


Pre-Clinical Development and Ongoing Research

  • Continued pre-clinical development and research activities directed to additional muscle biology focused programs.


Corporate

  • Participated in Series B financing of Imbria Pharmaceuticals to support advancement of ninerafaxstat for the treatment of non-obstructive HCM.
  • Released the 2024 Corporate Responsibility Report outlining the Company’s commitment and activities related to social and environmental responsibility, ethics and governance and patient and community engagement.
  • Launched EARTH-HCM (Epidemiology, Awareness, Real-world Treatment and Health Outcomes in HCM), an online, open access, interactive public health education tool developed by Cytokinetics in collaboration with leading academic institutions, that leverages real-world, de-identified claims data to visualize and analyze population differences in patient characteristics, treatments, clinical outcomes, healthcare resource utilization and costs in HCM in the U.S.
  • Awarded Cytokinetics Communications Fellowship Grants to patient advocacy organizations serving the HCM and heart failure communities to support increased capacity in communications, awareness building and community engagement.


First Quarter 2025 Financial Results

Cash, Cash Equivalents and Investments

  • As of March 31, 2025, the company had approximately $1.1 billion in cash, cash equivalents and investments compared to $1.2 billion at December 31, 2024. Cash, cash equivalents and investments declined by approximately $132.2 million during the first quarter of 2025.

Revenue

  • Total revenues for the first quarter of 2025 were $1.6 million compared to $0.8 million for the same period in 2024.

Research and Development (R&D) Expenses

  • R&D expenses for the first quarter of 2025 were $99.8 million, which included $11.7 million of non-cash stock-based compensation expense, compared to $81.6 million for the same period in 2024, which included $8.6 million of non-cash stock-based compensation expense. The increase was primarily due to advancing our clinical trials and higher personnel-related costs.

General and Administrative (G&A) Expenses

  • G&A expenses for the first quarter of 2025 were $57.4 million, which included $11.9 million of non-cash stock-based compensation expense, compared to $45.5 million for the same period in 2024, which included $13.0 million of non-cash stock-based compensation expense. The increase was primarily due to investments in commercial readiness and higher personnel-related costs.

Net Income (Loss)

  • Net loss for the first quarter of 2025 was $161.4 million, or $(1.36) per share, basic and diluted, compared to a net loss of $135.6 million, or $(1.33) per share, basic and diluted, for the same period in 2024.

2025 Financial Guidance

The company is maintaining its full year 2025 financial guidance:

GAAP operating expense* $670 million to $710 million
Non-cash stock-based compensation expense included
in GAAP operating expense		 $120 million to $110 million

*GAAP operating expense comprised of R&D and SG&A expenses.

Anticipated year-over-year increase in GAAP operating expense includes investments toward commercial readiness for the potential approval and launch of aficamten for patients with obstructive HCM.

The financial guidance does not include the effect of GAAP adjustments as may be caused by events that occur subsequent to publication of this guidance, including but not limited to Business Development activities.

Conference Call and Webcast Information

Members of Cytokinetics’ senior management team will review the company’s first quarter 2025 results on a conference call today at 4:30 PM Eastern Time. The conference call will be simultaneously webcast and can be accessed from the Investors & Media section of Cytokinetics’ website at www.cytokinetics.com. The live audio of the conference call can also be accessed by telephone by registering in advance at the following link: Cytokinetics Q1 2025 Earnings Conference Call. Upon registration, participants will receive a dial-in number and a unique passcode to access the call. An archived replay of the webcast will be available via Cytokinetics’ website for twelve months.

About Cytokinetics

Cytokinetics is a specialty cardiovascular biopharmaceutical company, building on its over 25 years of pioneering scientific innovations in muscle biology to advance a pipeline of potential new medicines for patients suffering from diseases of cardiac muscle dysfunction. Cytokinetics is readying for potential regulatory approvals and commercialization of aficamten, a cardiac myosin inhibitor following positive results from SEQUOIA-HCM, the pivotal Phase 3 clinical trial in patients with obstructive hypertrophic cardiomyopathy (HCM). Aficamten is also being evaluated in additional clinical trials enrolling patients with obstructive and non-obstructive HCM. Cytokinetics is also developing omecamtiv mecarbil, a cardiac myosin activator, in patients with heart failure with severely reduced ejection fraction (HFrEF), CK-586, a cardiac myosin inhibitor with a mechanism of action distinct from aficamten, for the potential treatment of heart failure with preserved ejection fraction (HFpEF) and CK-089, a fast skeletal muscle troponin activator with potential therapeutic application to a specific type of muscular dystrophy and other conditions of impaired skeletal muscle function.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on X, LinkedIn, Facebook and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but not limited to, statements, express or implied, relating to our or our partners’ research and development and commercial readiness activities, including the initiation, conduct, design, enrollment, progress, continuation, completion, timing and results of any of our clinical trials, or more specifically, our receipt of regulatory approval by FDA or any other regulatory authority to enable our commercialization of aficamten in the United States or any other jurisdiction by the target PDUFA date or any other date, if ever, our ability to complete enrollment of CEDAR-HCM and AMBER-HFpEF in the second half of 2025, our ability to complete patient enrollment of COMET-HF in 2026, our ability to commence enrollment of ACACIA-HCM in Japan in the second quarter of 2025, our ability to announce the results of any of our clinical trials by any particular date, the timing of interactions with FDA or any other regulatory authorities in connection to any of our drug candidates and the outcomes of such interactions; statements relating to the potential patient population who could benefit from aficamten, omecamtiv mecarbil, CK-586, CK-089 or any of our other drug candidates; statements relating to our ability to receive additional capital or other funding, including, but not limited to, our ability to meet any of the conditions relating to or to otherwise secure additional loan disbursements under any of our agreements with entities affiliated with Royalty Pharma or additional milestone payments from Sanofi or Bayer in connection with our collaborations for aficamten in China or Japan respectively; statements relating to our operating expenses or cash utilization for the remainder of 2025 or any other period, statements relating to our cash balance at any particular date or the amount of cash runway such cash balances represent at any particular time and statements related to the potential benefits of our participation in the Series B financing of Imbria Pharmaceuticals to support the advancement of ninerafaxstat for the treatment of nHCM. Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to Cytokinetics’ need for additional funding and such additional funding may not be available on acceptable terms, if at all; potential difficulties or delays in the development, testing, regulatory approvals for trial commencement, progression or product sale or manufacturing, or production of Cytokinetics’ drug candidates that could slow or prevent clinical development or product approval; patient enrollment for or conduct of clinical trials may be difficult or delayed; the FDA or foreign regulatory agencies may delay or limit Cytokinetics’ or its partners’ ability to conduct clinical trials; Cytokinetics may incur unanticipated research and development and other costs; standards of care may change, rendering Cytokinetics’ drug candidates obsolete; and competitive products or alternative therapies may be developed by others for the treatment of indications Cytokinetics’ drug candidates and potential drug candidates may target. For further information regarding these and other risks related to Cytokinetics’ business, investors should consult Cytokinetics’ filings with the Securities and Exchange Commission, particularly under the caption “Risk Factors” in Cytokinetics’ Annual Report on Form 10-K for the year ended December 31, 2024. Forward-looking statements are not guarantees of future performance, and Cytokinetics’ actual results of operations, financial condition and liquidity, and the development of the industry in which it operates, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that Cytokinetics makes in this press release speak only as of the date of this press release. Cytokinetics assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

CYTOKINETICS® and the CYTOKINETICS and C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries.

Contact:

Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757

 
Cytokinetics, Incorporated
Condensed Consolidated Balance Sheets
(in thousands)
       
       
  March 31, 2025   December 31, 2024
  (unaudited)    
ASSETS      
Current assets:      
Cash and short term investments $ 938,218     $ 1,076,014  
Other current assets   17,835       31,926  
Total current assets   956,053       1,107,940  
Long-term investments   150,687       145,055  
Property and equipment, net   67,175       65,815  
Operating lease right-of-use assets   77,439       75,158  
Other assets   12,697       7,705  
Total assets $ 1,264,051     $ 1,401,673  
LIABILITIES AND STOCKHOLDERS’ DEFICIT      
Current liabilities:      
Accounts payable and accrued liabilities $ 57,300     $ 75,692  
Short-term operating lease liabilities   19,574       18,978  
Current portion of long-term debt   12,960       11,520  
Derivative liabilities measured at fair value   11,700       11,300  
Deferred revenue   52,370       52,370  
Other current liabilities   5,822       9,814  
Total current liabilities   159,726       179,674  
Term loan, net   92,025       93,227  
Convertible notes, net   553,143       552,370  
Liabilities related to revenue participation right purchase agreements, net   476,296       462,192  
Long-term operating lease liabilities   113,353       112,582  
Liabilities related to RPI Transactions measured at fair value   133,100       137,000  
Other non-current liabilities   2,821       —  
Total liabilities   1,530,464       1,537,045  
Commitments and contingencies      
Stockholders’ deficit      
Common stock   119       118  
Additional paid-in capital   2,595,063       2,563,876  
Accumulated other comprehensive income   1,545       2,398  
Accumulated deficit   (2,863,140 )     (2,701,764 )
Total stockholders’ deficit   (266,413 )     (135,372 )
Total liabilities and stockholders’ deficit $ 1,264,051     $ 1,401,673  
 

Cytokinetics, Incorporated
Condensed Consolidated Statements of Operations
(in thousands except per share data)
(unaudited)
  Three Months Ended
  March 31, 2025   March 31, 2024
Revenues:      
Collaboration revenues $ 1,579     $ 835  
Operating expenses:      
Research and development   99,841       81,570  
General and administrative   57,369       45,500  
Total operating expenses   157,210       127,070  
Operating loss   (155,631 )     (126,235 )
Interest and other expense, net   (8,868 )     (7,103 )
Non-cash interest expense on liabilities related to revenue participation right purchase agreements   (14,078 )     (10,218 )
Interest and other income, net   13,701       7,913  
Change in fair value of derivative liabilities   (400 )     —  
Change in fair value of liabilities related to RPI Transactions   3,900       —  
Net loss $ (161,376 )   $ (135,643 )
Net loss per share — basic and diluted $ (1.36 )   $ (1.33 )
Weighted-average number of shares used in computing net loss per share — basic and diluted   118,496       101,924  



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Cirrus Logic Reports Fourth Quarter Revenue of $424.5Million and Full Fiscal Year 2025 Revenue of $1.90 Billion

Cirrus Logic Reports Fourth Quarter Revenue of $424.5Million and Full Fiscal Year 2025 Revenue of $1.90 Billion

AUSTIN, Texas–(BUSINESS WIRE)–
Cirrus Logic, Inc. (NASDAQ: CRUS)today posted on its website at investor.cirrus.com the quarterly shareholder letter that contains the complete financial results for the fourth quarter and full fiscal year 2025, which ended March 29, 2025, as well as the company’s current business outlook.

“Cirrus Logic delivered six percent revenue growth and record earnings per share in FY25. We are pleased with our achievements during the year, with the company making excellent progress executing our strategic growth plan. In FY25, we began shipping the latest generation of our boosted amplifier and our first 22-nanometer smart codec, grew our momentum in the laptop market, and introduced a series of general market components that expand our product portfolio and revenue opportunities across a number of markets,” said John Forsyth, Cirrus Logic president and chief executive officer. “With a rich portfolio of products and an exciting pipeline of innovations in development, we look forward to capitalizing on the many opportunities ahead of us to further broaden our technology and market reach.”

Reported Financial Results – Fourth Quarter FY25

  • Revenue of $424.5 million;
  • GAAP and non-GAAP gross margin of 53.4 percent and 53.5 percent;
  • GAAP operating expenses of $140.8 million and non-GAAP operating expenses of $120.0 million; and
  • GAAP earnings per share of $1.31 and non-GAAP earnings per share of $1.67.

Reported Financial Results – Full Fiscal Year 2025

  • Revenue of $1.90 billion;
  • GAAP and non-GAAP gross margin of 52.5 percent and 52.6 percent;
  • GAAP operating expenses of $585.7 million and non-GAAP operating expenses of $494.1 million; and
  • GAAP earnings per share of $6.00 and non-GAAP earnings per share of $7.54.

A reconciliation of GAAP to non-GAAP financial information is included in the tables accompanying this press release.

Business Outlook – First Quarter FY26

  • Revenue is expected to range between $330 million and $390 million;
  • GAAP gross margin is forecasted to be between 51 percent and 53 percent; and
  • Combined GAAP R&D and SG&A expenses are anticipated to range between $141 million and $147 million, including approximately $20 million in stock-based compensation expense and $2 million in amortization of acquired intangibles, resulting in a non-GAAP operating expense range between $119 million and $125 million.

Share Repurchase Authorization

The company also announced that in March 2025 its Board of Directors authorized the repurchase of up to an additional $500 million of the company’s common stock. The repurchases are expected to be funded from working capital and anticipated cash flow from operations and may occur from time to time depending on a variety of factors, including general market and economic conditions and other corporate considerations. Repurchases may be affected through a variety of means, including open market purchases, privately negotiated transactions, 10b5-1 plans, or other means, in accordance with applicable securities laws. The Company is not obligated to repurchase any specific amount of shares, and repurchases may be suspended or discontinued at any time without notice.

Cirrus Logic will host a live Q&A session at 5 p.m. EDT today to discuss its financial results and business outlook. Participants may listen to the conference call on the investor relations website at investor.cirrus.com. A replay of the webcast can be accessed on the Cirrus Logic website approximately two hours following its completion or by calling (609) 800-9909 or toll-free at (800) 770-2030 (Access Code: 95424).

About Cirrus Logic, Inc.

Cirrus Logic is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world’s top mobile and consumer applications. With headquarters in Austin, Texas, Cirrus Logic is recognized globally for its award-winning corporate culture.

Cirrus Logic, Cirrus and the Cirrus Logic logo are registered trademarks of Cirrus Logic, Inc. All other company or product names noted herein may be trademarks of their respective holders.

Use of non-GAAP Financial Information

To supplement Cirrus Logic’s financial statements presented on a GAAP basis, the company has provided non-GAAP financial information, including non-GAAP net income, diluted earnings per share, operating income and profit, operating expenses, gross margin and profit, tax expense, tax expense impact on earnings per share, effective tax rate, free cash flow, and free cash flow margin. A reconciliation of the adjustments to GAAP results is included in the tables below. Non-GAAP financial information is not meant as a substitute for GAAP results but is included because management believes such information is useful to our investors for informational and comparative purposes. In addition, certain non-GAAP financial information is used internally by management to evaluate and manage the company. The non-GAAP financial information used by Cirrus Logic may differ from that used by other companies. These non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP.

Safe Harbor Statement

Except for historical information contained herein, the matters set forth in this news release contain forward-looking statements including our statement about our ability to capitalize on the many opportunities ahead of us; and our estimates for the first quarter fiscal year 2026 revenue, gross margin, combined research and development and selling, general and administrative expense levels, stock-based compensation expense, and amortization of acquired intangibles. In some cases, forward-looking statements are identified by words such as “expect,” “anticipate,” “target,” “project,” “believe,” “goals,” “opportunity,” “estimates,” “intend,” and variations of these types of words and similar expressions. In addition, any statements that refer to our plans, expectations, strategies, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are based on our current expectations, estimates, and assumptions and are subject to certain risks and uncertainties that could cause actual results to differ materially, and readers should not place undue reliance on such statements. These risks and uncertainties include, but are not limited to, the following: the level and timing of orders and shipments during the first quarter of fiscal year 2026; customer cancellations of orders; the failure to place orders consistent with forecasts; changes in government trade policies, including the imposition of tariffs or export restrictions; and global economic conditions and uncertainty, along with the risk factors listed in our Form 10-K for the year ended March 30, 2024 and in our other filings with the Securities and Exchange Commission, which are available at www.sec.gov. The foregoing information concerning our business outlook represents our outlook as of the date of this news release, and we expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise, unless required by law.

 

Summary Financial Data Follows:

CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS

(in thousands, except per share data; unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

Mar. 29,

 

Dec. 28,

 

Mar. 30,

 

Mar. 29,

 

Mar. 30,

 

 

2025

 

 

 

2024

 

 

 

2024

 

 

 

2025

 

 

 

2024

 

 

Q4’25

 

Q3’25

 

Q4’24

 

Q4’25

 

Q4’24

Audio

$

255,326

 

 

$

346,272

 

 

$

226,681

 

 

$

1,137,157

 

 

$

1,083,939

 

High-Performance Mixed-Signal

 

169,130

 

 

 

209,466

 

 

 

145,146

 

 

 

758,920

 

 

 

704,951

 

Net sales

 

424,456

 

 

 

555,738

 

 

 

371,827

 

 

 

1,896,077

 

 

 

1,788,890

 

Cost of sales

 

197,720

 

 

 

257,951

 

 

 

179,202

 

 

 

900,039

 

 

 

872,818

 

Gross profit

 

226,736

 

 

 

297,787

 

 

 

192,625

 

 

 

996,038

 

 

 

916,072

 

Gross margin

 

53.4

%

 

 

53.6

%

 

 

51.8

%

 

 

52.5

%

 

 

51.2

%

 

 

 

 

 

 

 

 

 

 

Research and development

 

103,420

 

 

 

112,976

 

 

 

103,383

 

 

 

434,684

 

 

 

426,475

 

Selling, general and administrative

 

37,370

 

 

 

39,042

 

 

 

36,866

 

 

 

150,995

 

 

 

144,172

 

Restructuring costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,959

 

Total operating expenses

 

140,790

 

 

 

152,018

 

 

 

140,249

 

 

 

585,679

 

 

 

572,606

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

85,946

 

 

 

145,769

 

 

 

52,376

 

 

 

410,359

 

 

 

343,466

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

8,604

 

 

 

8,146

 

 

 

7,360

 

 

 

33,086

 

 

 

20,578

 

Other income (expense)

 

55

 

 

 

(214

)

 

 

(78

)

 

 

1,469

 

 

 

(108

)

Income before income taxes

 

94,605

 

 

 

153,701

 

 

 

59,658

 

 

 

444,914

 

 

 

363,936

 

Provision for income taxes

 

23,338

 

 

 

37,696

 

 

 

14,816

 

 

 

113,407

 

 

 

89,364

 

Net income

$

71,267

 

 

$

116,005

 

 

$

44,842

 

 

$

331,507

 

 

$

274,572

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

$

1.35

 

 

$

2.19

 

 

$

0.83

 

 

$

6.24

 

 

$

5.06

 

Diluted earnings per share:

$

1.31

 

 

$

2.11

 

 

$

0.81

 

 

$

6.00

 

 

$

4.90

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares:

 

 

 

 

 

 

 

 

 

Basic

 

52,756

 

 

 

53,081

 

 

 

53,739

 

 

 

53,135

 

 

 

54,290

 

Diluted

 

54,324

 

 

 

55,076

 

 

 

55,559

 

 

 

55,241

 

 

 

56,021

 

 

 

 

 

 

 

 

 

 

 

Prepared in accordance with Generally Accepted Accounting Principles

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL INFORMATION

(in thousands, except per share data; unaudited)

(not prepared in accordance with GAAP)

 

 

 

 

 

 

 

 

 

 

Non-GAAP financial information is not meant as a substitute for GAAP results, but is included because management believes such information is useful to our investors for informational and comparative purposes. In addition, certain non-GAAP financial information is used internally by management to evaluate and manage the company. As a note, the non-GAAP financial information used by Cirrus Logic may differ from that used by other companies. These non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP.

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

Mar. 29,

 

Dec. 28,

 

Mar. 30,

 

Mar. 29,

 

Mar. 30,

 

 

2025

 

 

 

2024

 

 

 

2024

 

 

 

2025

 

 

 

2024

 

Net Income Reconciliation

Q4’25

 

Q3’25

 

Q4’24

 

Q4’25

 

Q4’24

GAAP Net Income

$

71,267

 

 

$

116,005

 

 

$

44,842

 

 

$

331,507

 

 

$

274,572

 

Amortization of acquisition intangibles

 

1,647

 

 

 

1,647

 

 

 

1,973

 

 

 

7,130

 

 

 

8,285

 

Stock-based compensation expense

 

19,491

 

 

 

20,823

 

 

 

22,158

 

 

 

84,146

 

 

 

89,271

 

Lease impairment

 

—

 

 

 

661

 

 

 

—

 

 

 

1,680

 

 

 

—

 

Restructuring costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,959

 

Acquisition-related costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4,105

 

Adjustment to income taxes

 

(1,772

)

 

 

(827

)

 

 

75

 

 

 

(7,866

)

 

 

(8,926

)

Non-GAAP Net Income

$

90,633

 

 

$

138,309

 

 

$

69,048

 

 

$

416,597

 

 

$

369,266

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Share Reconciliation

 

 

 

 

 

 

 

 

 

GAAP Diluted earnings per share

$

1.31

 

 

$

2.11

 

 

$

0.81

 

 

$

6.00

 

 

$

4.90

 

Effect of Amortization of acquisition intangibles

 

0.03

 

 

 

0.03

 

 

 

0.03

 

 

 

0.13

 

 

 

0.15

 

Effect of Stock-based compensation expense

 

0.36

 

 

 

0.38

 

 

 

0.40

 

 

 

1.52

 

 

 

1.59

 

Effect of Lease impairment

 

—

 

 

 

0.01

 

 

 

—

 

 

 

0.03

 

 

 

—

 

Effect of Restructuring costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.04

 

Effect of Acquisition-related costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.07

 

Effect of Adjustment to income taxes

 

(0.03

)

 

 

(0.02

)

 

 

—

 

 

 

(0.14

)

 

 

(0.16

)

Non-GAAP Diluted earnings per share

$

1.67

 

 

$

2.51

 

 

$

1.24

 

 

$

7.54

 

 

$

6.59

 

 

 

 

 

 

 

 

 

 

 

Operating Income Reconciliation

 

 

 

 

 

 

 

 

 

GAAP Operating Income

$

85,946

 

 

$

145,769

 

 

$

52,376

 

 

$

410,359

 

 

$

343,466

 

GAAP Operating Profit

 

20.2

%

 

 

26.2

%

 

 

14.1

%

 

 

21.6

%

 

 

19.2

%

Amortization of acquisition intangibles

 

1,647

 

 

 

1,647

 

 

 

1,973

 

 

 

7,130

 

 

 

8,285

 

Stock-based compensation expense – COGS

 

360

 

 

 

351

 

 

 

362

 

 

 

1,332

 

 

 

1,403

 

Stock-based compensation expense – R&D

 

13,079

 

 

 

14,498

 

 

 

15,483

 

 

 

59,184

 

 

 

63,678

 

Stock-based compensation expense – SG&A

 

6,052

 

 

 

5,974

 

 

 

6,313

 

 

 

23,630

 

 

 

24,190

 

Lease impairment

 

—

 

 

 

661

 

 

 

—

 

 

 

1,680

 

 

 

—

 

Restructuring costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,959

 

Acquisition-related costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4,105

 

Non-GAAP Operating Income

$

107,084

 

 

$

168,900

 

 

$

76,507

 

 

$

503,315

 

 

$

447,086

 

Non-GAAP Operating Profit

 

25.2

%

 

 

30.4

%

 

 

20.6

%

 

 

26.5

%

 

 

25.0

%

 

 

 

 

 

 

 

 

 

 

Operating Expense Reconciliation

 

 

 

 

 

 

 

 

 

GAAP Operating Expenses

$

140,790

 

 

$

152,018

 

 

$

140,249

 

 

$

585,679

 

 

$

572,606

 

Amortization of acquisition intangibles

 

(1,647

)

 

 

(1,647

)

 

 

(1,973

)

 

 

(7,130

)

 

 

(8,285

)

Stock-based compensation expense – R&D

 

(13,079

)

 

 

(14,498

)

 

 

(15,483

)

 

 

(59,184

)

 

 

(63,678

)

Stock-based compensation expense – SG&A

 

(6,052

)

 

 

(5,974

)

 

 

(6,313

)

 

 

(23,630

)

 

 

(24,190

)

Lease impairment

 

—

 

 

 

(661

)

 

 

—

 

 

 

(1,680

)

 

 

—

 

Restructuring costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,959

)

Acquisition-related costs

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(4,105

)

Non-GAAP Operating Expenses

$

120,012

 

 

$

129,238

 

 

$

116,480

 

 

$

494,055

 

 

$

470,389

 

 

 

 

 

 

 

 

 

 

 

Gross Margin/Profit Reconciliation

 

 

 

 

 

 

 

 

 

GAAP Gross Profit

$

226,736

 

 

$

297,787

 

 

$

192,625

 

 

$

996,038

 

 

$

916,072

 

GAAP Gross Margin

 

53.4

%

 

 

53.6

%

 

 

51.8

%

 

 

52.5

%

 

 

51.2

%

Stock-based compensation expense – COGS

 

360

 

 

 

351

 

 

 

362

 

 

 

1,332

 

 

 

1,403

 

Non-GAAP Gross Profit

$

227,096

 

 

$

298,138

 

 

$

192,987

 

 

$

997,370

 

 

$

917,475

 

Non-GAAP Gross Margin

 

53.5

%

 

 

53.6

%

 

 

51.9

%

 

 

52.6

%

 

 

51.3

%

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

Mar. 29,

 

Dec. 28,

 

Mar. 30,

 

Mar. 29,

 

Mar. 30,

 

 

2025

 

 

 

2024

 

 

 

2024

 

 

 

2025

 

 

 

2024

 

Effective Tax Rate Reconciliation

Q4’25

 

Q3’25

 

Q4’24

 

Q4’25

 

Q4’24

GAAP Tax Expense

$

23,338

 

 

$

37,696

 

 

$

14,816

 

 

$

113,407

 

 

$

89,364

 

GAAP Effective Tax Rate

 

24.7

%

 

 

24.5

%

 

 

24.8

%

 

 

25.5

%

 

 

24.6

%

Adjustments to income taxes

 

1,772

 

 

 

827

 

 

 

(75

)

 

 

7,866

 

 

 

8,926

 

Non-GAAP Tax Expense

$

25,110

 

 

$

38,523

 

 

$

14,741

 

 

$

121,273

 

 

$

98,290

 

Non-GAAP Effective Tax Rate

 

21.7

%

 

 

21.8

%

 

 

17.6

%

 

 

22.5

%

 

 

21.0

%

 

 

 

 

 

 

 

 

 

 

Tax Impact to EPS Reconciliation

 

 

 

 

 

 

 

 

 

GAAP Tax Expense

$

0.43

 

 

$

0.68

 

 

$

0.27

 

 

$

2.05

 

 

$

1.60

 

Adjustments to income taxes

 

0.03

 

 

 

0.02

 

 

 

—

 

 

 

0.14

 

 

 

0.16

 

Non-GAAP Tax Expense

$

0.46

 

 

$

0.70

 

 

$

0.27

 

 

$

2.19

 

 

$

1.76

 

CONSOLIDATED CONDENSED BALANCE SHEET

(in thousands; unaudited)

 

 

 

 

 

 

 

 

 

Mar. 29,

 

Dec. 28,

 

Mar. 30,

 

 

 

2025

 

 

 

2024

 

 

 

2024

 

ASSETS

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

539,620

 

 

$

526,444

 

 

$

502,764

 

Marketable securities

 

 

56,160

 

 

 

37,535

 

 

 

23,778

 

Accounts receivable, net

 

 

216,009

 

 

 

261,943

 

 

 

162,478

 

Inventories

 

 

299,092

 

 

 

275,558

 

 

 

227,248

 

Prepaid wafers

 

 

52,560

 

 

 

66,113

 

 

 

86,679

 

Other current assets

 

 

76,293

 

 

 

82,857

 

 

 

103,245

 

Total current Assets

 

 

1,239,734

 

 

 

1,250,450

 

 

 

1,106,192

 

 

 

 

 

 

 

 

Long-term marketable securities

 

 

239,036

 

 

 

252,594

 

 

 

173,374

 

Right-of-use lease assets

 

 

126,688

 

 

 

129,597

 

 

 

138,288

 

Property and equipment, net

 

 

159,900

 

 

 

163,837

 

 

 

170,175

 

Intangibles, net

 

 

27,461

 

 

 

23,957

 

 

 

29,578

 

Goodwill

 

 

435,936

 

 

 

435,936

 

 

 

435,936

 

Deferred tax asset

 

 

48,150

 

 

 

40,895

 

 

 

48,649

 

Long-term prepaid wafers

 

 

15,512

 

 

 

23,020

 

 

 

60,750

 

Other assets

 

 

34,656

 

 

 

42,954

 

 

 

68,634

 

Total assets

 

$

2,327,073

 

 

$

2,363,240

 

 

$

2,231,576

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

Accounts payable

 

$

63,162

 

 

$

77,907

 

 

$

55,545

 

Accrued salaries and benefits

 

 

52,075

 

 

 

48,029

 

 

 

47,612

 

Lease liability

 

 

21,811

 

 

 

21,858

 

 

 

20,640

 

Other accrued liabilities

 

 

58,140

 

 

 

63,119

 

 

 

62,596

 

Total current liabilities

 

 

195,188

 

 

 

210,913

 

 

 

186,393

 

 

 

 

 

 

 

 

Non-current lease liability

 

 

121,908

 

 

 

124,622

 

 

 

134,576

 

Non-current income taxes

 

 

44,040

 

 

 

43,401

 

 

 

52,013

 

Other long-term liabilities

 

 

16,488

 

 

 

21,506

 

 

 

41,580

 

Total long-term liabilities

 

 

182,436

 

 

 

189,529

 

 

 

228,169

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

Capital stock

 

 

1,860,281

 

 

 

1,840,791

 

 

 

1,760,701

 

Accumulated earnings

 

 

90,351

 

 

 

124,101

 

 

 

58,916

 

Accumulated other comprehensive loss

 

 

(1,183

)

 

 

(2,094

)

 

 

(2,603

)

Total stockholders’ equity

 

 

1,949,449

 

 

 

1,962,798

 

 

 

1,817,014

 

Total liabilities and stockholders’ equity

 

$

2,327,073

 

 

$

2,363,240

 

 

$

2,231,576

 

 

 

 

 

 

 

 

Prepared in accordance with Generally Accepted Accounting Principles
 

CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS

(in thousands; unaudited)

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

 

 

Mar. 29,

 

Mar. 30,

 

 

 

2025

 

 

 

2024

 

 

 

Q4’25

 

Q4’24

Cash flows from operating activities:

 

 

 

 

Net income

 

$

71,267

 

 

$

44,842

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

 

13,150

 

 

 

12,009

 

Stock-based compensation expense

 

 

19,491

 

 

 

22,158

 

Deferred income taxes

 

 

(7,497

)

 

 

(14,426

)

Loss on retirement or write-off of long-lived assets

 

 

1

 

 

 

2

 

Other non-cash charges

 

 

(33

)

 

 

86

 

Net change in operating assets and liabilities:

 

 

 

 

Accounts receivable, net

 

 

45,934

 

 

 

54,791

 

Inventories

 

 

(23,534

)

 

 

29,427

 

Prepaid wafers

 

 

21,061

 

 

 

10,917

 

Other assets

 

 

11,341

 

 

 

6,621

 

Accounts payable and other accrued liabilities

 

 

(17,937

)

 

 

(2,411

)

Income taxes payable

 

 

(2,858

)

 

 

6,510

 

Net cash provided by operating activities

 

 

130,386

 

 

 

170,526

 

Cash flows from investing activities:

 

 

 

 

Maturities and sales of available-for-sale marketable securities

 

 

9,392

 

 

 

13,614

 

Purchases of available-for-sale marketable securities

 

 

(13,322

)

 

 

(108,174

)

Purchases of property, equipment and software

 

 

(3,429

)

 

 

(7,057

)

Investments in technology

 

 

(5,752

)

 

 

(638

)

Net cash used in investing activities

 

 

(13,111

)

 

 

(102,255

)

Cash flows from financing activities:

 

 

 

 

Issuance of common stock, net of shares withheld for taxes

 

 

—

 

 

 

2,719

 

Repurchase of stock to satisfy employee tax withholding obligations

 

 

(4,099

)

 

 

(2,165

)

Repurchase and retirement of common stock

 

 

(100,000

)

 

 

(49,992

)

Net cash used in financing activities

 

 

(104,099

)

 

 

(49,438

)

Net increase in cash and cash equivalents

 

 

13,176

 

 

 

18,833

 

Cash and cash equivalents at beginning of period

 

 

526,444

 

 

 

483,931

 

Cash and cash equivalents at end of period

 

$

539,620

 

 

$

502,764

 

 

 

 

 

 

Prepared in accordance with Generally Accepted Accounting Principles
 

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL INFORMATION

(in thousands; unaudited)

 

 

 

 

 

 

 

 

 

 

 

Free cash flow, a non-GAAP financial measure, is GAAP cash flow from operations (or cash provided by operating activities) less capital expenditures. Capital expenditures include purchases of property, equipment and software as well as investments in technology, as presented within our GAAP Consolidated Condensed Statement of Cash Flows. Free cash flow margin represents free cash flow divided by revenue.

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve

Months

Ended

 

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

Mar. 29,

 

Mar. 29,

 

Dec. 28,

 

Sep. 28,

 

Jun. 29,

 

 

 

2025

 

 

 

2025

 

 

 

2024

 

 

 

2024

 

 

 

2024

 

 

 

Q4’25

 

Q4’25

 

Q3’25

 

Q2’25

 

Q1’25

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by operating activities (GAAP)

 

$

444,366

 

 

$

130,386

 

 

$

218,588

 

 

$

8,231

 

 

$

87,161

 

Capital expenditures

 

 

(28,753

)

 

 

(9,181

)

 

 

(6,687

)

 

 

(2,740

)

 

 

(10,145

)

Free Cash Flow (Non-GAAP)

 

$

415,613

 

 

$

121,205

 

 

$

211,901

 

 

$

5,491

 

 

$

77,016

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flow from Operations as a Percentage of Revenue (GAAP)

 

 

23

%

 

 

31

%

 

 

39

%

 

 

2

%

 

 

23

%

Capital Expenditures as a Percentage of Revenue (GAAP)

 

 

2

%

 

 

2

%

 

 

1

%

 

 

1

%

 

 

3

%

Free Cash Flow Margin (Non-GAAP)

 

 

22

%

 

 

29

%

 

 

38

%

 

 

1

%

 

 

21

%

RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL INFORMATION

(in millions; unaudited)

(not prepared in accordance with GAAP)

 

 

 

 

 

Q1 FY26

 

 

Guidance

Operating Expense Reconciliation

 

 

GAAP Operating Expenses

 

$141 – 147

Stock-based compensation expense

 

(20)

Amortization of acquisition intangibles

 

(2)

Non-GAAP Operating Expenses

 

$119 – 125

 

Investor Contact:

Chelsea Heffernan

Vice President, Investor Relations

Cirrus Logic, Inc.

(512) 851-4125

[email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Telecommunications Networks Internet Audio/Video Consumer Electronics Technology Mobile/Wireless Other Technology

MEDIA:

Posted on

CVD Equipment Corporation to Report First Quarter 2025 Financial Results on May 13, 2025

CVD Equipment Corporation to Report First Quarter 2025 Financial Results on May 13, 2025

CENTRAL ISLIP, N.Y.–(BUSINESS WIRE)–
CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition and thermal process equipment, today announced that it will release its financial results for the first quarter ended March 31, 2025 after the market close on Tuesday, May 13, 2025.

The Company will hold a conference call to discuss its results at 5:00 p.m. (Eastern Time) that day. To participate in the live conference call, please dial toll free 1-877-407-2991 or 1-201-389-0925. A telephone replay will be available for 7 days. To access the replay, dial toll free 1-877-660-6853 or 1-201-612-7415. The replay passcode is 13753736.

A live and archived webcast of the call will also be available on the company’s website at www.cvdequipment.com/events. The archived webcast will be available at the same location approximately two hours following the end of the live event.

About CVD Equipment Corporation

CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, thermal and physical vapor transport process equipment, gas and chemical delivery control systems, and other equipment and process solutions used to develop and manufacture materials and coatings for industrial applications and research. Our products are used in production environments as well as research and development centers, both academic and corporate. Major target markets include aerospace & defense (ceramic matrix composites), high power electronics (silicon carbide), and EV battery materials / energy storage (carbon nanotubes, graphene, and silicon nanowires). Through its application laboratory, the Company allows customers the option to bring their process tools to our laboratory and to work collaboratively with our scientists and engineers to optimize process performance.

For further information about this topic please contact:

Richard Catalano, Executive Vice President & CFO

Phone: (631) 981-7081

Email: [email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Technology Other Defense Air Engineering Transport Chemicals/Plastics Aerospace Manufacturing Hardware Defense

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Cognyte to Participate in 20th Annual Needham Technology & Media Conference

Cognyte to Participate in 20th Annual Needham Technology & Media Conference

HERZLIYA, Israel–(BUSINESS WIRE)–Cognyte Software Ltd. (NASDAQ: CGNT) (“Cognyte”), a global leader in software-driven technology for investigative analytics, today announced that Elad Sharon, Cognyte’s Chief Executive Officer, and David Abadi, Cognyte’s Chief Financial Officer, will hold a fireside chat at the 20th Annual Needham Technology & Media Conference on Monday, May 12, 2025, at 8:45 am ET. An online, real-time webcast and replay of the discussion will be available on our website at https://www.cognyte.com/investors/.

About Cognyte Software Ltd.

Cognyte is a leading software-driven technology company, focused on solutions for data processing and investigative analytics that allow customers to generate Actionable Intelligence for a Safer World™. Cognyte’s solutions empower law enforcement, national security, national and military intelligence agencies, and other organizations to navigate an increasingly complex threat landscape. With offerings that leverage state-of-the-art technology, including Artificial Intelligence (AI), big data analytics and advanced machine learning, Cognyte helps customers make smarter, faster decisions with their data for the best possible outcomes. Hundreds of customers rely on Cognyte’s investigative analytics solutions to uncover critical insights from past events and anticipate emerging threats. By harnessing AI-driven intelligence, Cognyte accelerates investigations with exceptional speed and accuracy while enabling customers to better investigate, anticipate, predict and mitigate risks with greater precision. Learn more at www.cognyte.com.

Investor Relations

Dean Ridlon

Cognyte Software Ltd.

[email protected]

KEYWORDS: Israel Middle East

INDUSTRY KEYWORDS: Other Defense White House/Federal Government Security Data Management State/Local Technology Law Enforcement/Emergency Services Finance Consulting Banking Homeland Security Professional Services Defense Public Policy/Government Telecommunications Software

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Lattice to Showcase Advanced Edge AI Solutions at New-Tech 2025 Exhibition

Lattice to Showcase Advanced Edge AI Solutions at New-Tech 2025 Exhibition

HILLSBORO, Ore.–(BUSINESS WIRE)–Lattice Semiconductor (NASDAQ: LSCC), the low power programmable leader, today announced that it will showcase its latest FPGA technology at the New-Tech 2025 Exhibition. Lattice technology demos will be featured in the Telsys Ltd. booth, showcasing industry-leading low power, small form factor FPGAs and application-specific solutions enabling advanced embedded vision, artificial intelligence, and sensor fusion capabilities.

Additionally, Lattice will deliver a technical presentation titled “Power-Efficient Robotics and Automation Fueled by Lattice FPGA Technology” about how advanced, power-optimized FPGAs can dramatically reduce power consumption for next-generation automation and robotics solutions for Industrial applications.

  • Who: Lattice Semiconductor
  • What / When:
    • May 20 – 21: Lattice demo showcase (Telsys Ltd. Booth #67-68)
    • May 21, 10:20 a.m.: “Power-Efficient Robotics and Automation Fueled by Lattice Semiconductor FPGA Technology” technical presentation
  • Where: New-Tech 2025 Exhibition
    • Event venue: EXPO Tel-Aviv Convention Center, Pavilion 1, Tel Aviv-Yafo, Israel

About Lattice Semiconductor

Lattice Semiconductor (NASDAQ: LSCC) is the low power programmable leader. We solve customer problems across the network, from the Edge to the Cloud, in the growing Communications, Computing, Industrial, Automotive, and Consumer markets. Our technology, long-standing relationships, and commitment to world-class support let our customers quickly and easily unleash their innovation to create a smart, secure, and connected world.

For more information about Lattice, please visit www.latticesemi.com. You can also follow us via LinkedIn, Twitter, Facebook, YouTube, WeChat, or Weibo.

Lattice Semiconductor Corporation, Lattice Semiconductor (& design), and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries. The use of the word “partner” does not imply a legal partnership between Lattice and any other entity.

GENERAL NOTICE: Other product names used in this publication are for identification purposes only and may be trademarks of their respective holders.

MEDIA CONTACT:

Sophia Hong

Lattice Semiconductor

503-268-8786

[email protected]

INVESTOR CONTACT:

Rick Muscha

Lattice Semiconductor

408-826-6000

[email protected]

KEYWORDS: United States North America Oregon

INDUSTRY KEYWORDS: Semiconductor Data Management Technology Software Internet Hardware

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Barrick Announces Name Change to BARRICK MINING CORPORATION and Election of Directors

TORONTO, May 06, 2025 (GLOBE NEWSWIRE) — Barrick Mining Corporation (NYSE:GOLD1)(TSX:ABX) (“Barrick” or the “Company”) today announced that it has completed its name change to Barrick Mining Corporation and « Société minière Barrick » in French, following receipt of shareholder approval at its Annual and Special Meeting of Shareholders held earlier today.

The Barrick common shares will commence trading under the Company’s new name on the New York Stock Exchange and the Toronto Stock Exchange at the start of trading on May 9, 2025. In connection with the name change, the ticker symbol for the Barrick common shares listed on the New York Stock Exchange will be changed to ‘B’, effective as of the start of trading on May 9, 2025. The Barrick common shares will continue to trade under the ‘ABX’ ticker symbol on the Toronto Stock Exchange. The new CUSIP number for the Barrick common shares effective at the start of trading on May 9, 2025 will be 06849F108.

The Company also today announced that the nominees put forward in the Information Circular for the 2025 Annual and Special Meeting of Shareholders were elected as directors of Barrick.

Detailed voting results of the business considered at the 2025 Annual and Special Meeting of Shareholders are set out below.

Voting results for the election of each of the directors are as follows:

Nominee Votes For % For Votes Withheld % Withheld
D. Mark Bristow 1,020,378,227 98.51 % 15,416,258 1.49 %
Helen Cai 1,010,295,881 97.54 % 25,498,604 2.46 %
Isela A. Costantini 1,005,499,131 97.08 % 30,295,354 2.92 %
Brian L. Greenspun 983,079,618 94.91 % 52,714,867 5.09 %
J. Brett Harvey 942,971,604 91.04 % 92,822,881 8.96 %
Anne N. Kabagambe 1,015,871,620 98.08 % 19,222,865 1.92 %
Loreto Silva 1,014,662,624 97.96 % 21,131,861 2.04 %
John L. Thornton 883,067,332 85.26 % 152,727,153 14.74 %
Ben van Beurden 1,025,415,531 99.00 % 10,378,954 1.00 %
Pekka J. Vauramo 1,005,397,144 97.07 % 30,397,341 2.93 %


Voting results for the resolution approving the appointment of the auditor are as follows:

Votes For % For Votes Withheld % Withheld
1,074,381,424 93.24 % 77,936,649 6.76 %


Voting results for the advisory resolution on executive compensation are as follows:

Votes For % For Votes Against % Against
945,831,487 91.28 % 90,362,970 8.72 %


Voting results for the special resolution approving the name change are as follows:

Votes For % For Votes Against % Against
1,131,229,279 98.14 % 21,482,618 1.86 %



Enquiries:

Investor and Media Relations

Kathy du Plessis
+44 20 7557 7738
Email: [email protected]

Website:www.barrick.com

Endnote 1

The ticker symbol for the Barrick common shares listed on the New York Stock Exchange is changing from ‘GOLD’ to ‘B’, effective at the start of trading on May 9, 2025. The Barrick common shares will continue to trade under the ‘ABX’ ticker symbol on the Toronto Stock Exchange. The new CUSIP number for the Barrick common shares effective at the start of trading on May 9, 2025 will be 06849F108.

Cautionary Statement on Forward-Looking Information

Certain information contained in this press release constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “build”, “strategy”, “commitment”, “develop”, “replenish”, “secure”, “transform”, “continue”, “expand”, “grow”, “expand”, “extension”, “invest”, “will” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick’s future plans and the timing for such plans, growth potential, financial strength, investments and overall strategy; and expectations regarding future price assumptions, financial performance, shareholder returns and other outlook or guidance.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.



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authID Announces Pricing of Approximately $2,100,000 Million Registered Direct Offering

DENVER, May 06, 2025 (GLOBE NEWSWIRE) — authID Inc. (NASDAQ: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today announced it has entered into a definitive agreement with investors to sell approximately 373,060 shares of its common stock (the “Shares”), pursuant to a registered direct offering (the “Registered Direct Offering”). The purchase price for one Share will be $5.60. The aggregate gross proceeds from the Offering are expected to be approximately $2,100,000 million before deducting placement agent fees and other offering expenses.

The closing of the Registered Direct Offering is expected to occur on or about May 7, 2025, subject to the satisfaction of customary closing conditions.

Dominari Securities LLC and Madison Global Partners, LLC, acted as Co-Placement Agents for the offering.

authID intends to use the net proceeds for working capital and general corporate purposes.

The Shares offered in the Registered Direct Offering are being offered by the Company pursuant to a shelf registration statement (Registration No. 333-283580) filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on December 13, 2024. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement and accompanying prospectus relating to the Registered Direct Offering will be filed with the SEC and, when available, may be obtained for free on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the Registered Direct offering may be obtained by contacting Madison Global Partners, LLC, Attention: David S. Kaplan, 350 Motor Parkway, Suite 205, Hauppauge, NY 11788, by email at [email protected], or by telephone at (646) 690-0330.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About authID Inc.

authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.

For further information please visit authid.ai

Media Contacts

NextTech Communications
Walter Fowler
1-631-334-3864
[email protected]

Investor Relations Contacts
[email protected]

Cautionary Statement Regarding Forward-Looking Statements:

This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein are forward-looking statements. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2024, filed at www.sec.gov and other documents filed with the SEC for risk factors which investors should consider. These forward-looking statements speak only as to the date of this release and cannot be relied upon as a guide to future performance. authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based.



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RB Global Reports on Voting Results From the 2025 Annual and Special Meeting of Shareholders

RB Global Reports on Voting Results From the 2025 Annual and Special Meeting of Shareholders

WESTCHESTER, Ill.–(BUSINESS WIRE)–
The Annual and Special Meeting of Shareholders (the “Meeting”) of RB Global, Inc. (the “Company”, NYSE and TSX: RBA) was held on May 5, 2025. Each of the matters voted upon at the Meeting is discussed in detail in the Company’s Proxy Statement dated March 24, 2025, which can be found on the Company’s website at: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001046102/a520564c-c2db-4929-b19a-158d9bdef2c8.pdf.

Per TSX reporting requirements, the Company wishes to disclose that the total number of shares represented by shareholders in person and by proxy at the Meeting was 171,979,474 common shares of the Company and 485,000,000 Series A senior preferred shares of the Company, representing approximately 89.62% of the total votes eligible to be cast. The voting results for the election of directors were as follows:

Name of Director

For

Against

 

Robert G. Elton

165,597,450

 

3,134,198

 

Jim Kessler

 

168,459,097

 

272,551

 

Brian Bales

 

168,457,685

 

273,963

 

Adam DeWitt

 

168,278,934

 

452,714

 

Gregory B. Morrison

 

168,157,419

 

574,229

 

Timothy O’Day

 

164,944,095

 

3,787,553

 

Sarah Raiss

 

167,712,289

 

1,019,359

 

Michael Sieger

 

166,909,338

 

1,822,310

 

Debbie Stein

 

166,501,352

 

2,230,296

 

Carol Stephenson

 

166,304,935

 

2,426,713

 

On May 6, 2025, the Company filed a report of voting results on all resolutions voted on at the Meeting on www.sedarplus.com.

About RB Global

RB Global, Inc. (NYSE: RBA) (TSX: RBA) is a leading, omnichannel marketplace that provides value-added insights, services and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Through its global network of auction sites and digital platform, RB Global serves customers worldwide across a variety of asset classes, including automotive, construction, commercial transportation, government surplus, lifting and material handling, energy, mining and agriculture. The company’s end-to-end marketplace solutions include Ritchie Bros., IAA, Rouse Services, SmartEquip and VeriTread. For more information about RB Global, visit www.rbglobal.com.

Sameer Rathod Vice President, Investor Relations & Market Intelligence

+1 510-381-7584

[email protected]

KEYWORDS: United States North America Canada Illinois

INDUSTRY KEYWORDS: Other Transport Construction & Property Automotive Other Energy Transport Other Automotive Energy Mining/Minerals Other Construction & Property Natural Resources

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Draganfly to Host Shareholder Update Call on May 8, 2025

Saskatoon, SK, May 06, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A) (“Draganfly” or the “Company”), an award-winning, industry-leading developer of drone solutions and systems, today announced that it will host a shareholder update call on May 8, 2025, at 5:30 p.m. EST.

Draganfly CEO, Cameron Chell will lead the call, providing an overview of the Company’s first quarter milestones. CFO Paul Sun will present the Company’s Q1 2025 financial results, which are scheduled for release after market close on May 8, 2025. Pre-submitted investor questions will also be addressed during the call.

Registration for the call can be accessed here.

Investors are encouraged to submit their questions in advance to:

[email protected].

About Draganfly

Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

For more information, visit www.draganfly.com.

For investor details, visit:

Media Contact
[email protected]

Company Contact
[email protected]