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Palo Alto Networks Cortex XSIAM Delivers Industry’s First AI-Driven SecOps Platform to Span Proactive and Reactive Security

PR Newswire

Evolves industry-leading capabilities with AI-driven Cortex Exposure management and Advanced Email Security


SANTA CLARA, Calif.
, April 28, 2025 /PRNewswire/ — Palo Alto Networks® (NASDAQ: PANW), the global cybersecurity leader, today unveiled Cortex XSIAM® 3.0, the next evolution of its industry-leading SecOps platform, bolstered with proactive exposure management and advanced email security, enabling customers to further consolidate on Cortex for significantly better, faster and more cost-effective security operations.

Three years ago, Palo Alto Networks anticipated the future of security operations by introducing Cortex XSIAM, which consolidates and normalizes all cybersecurity data to fuel advanced, real-time analytics and automation, making disjointed point products obsolete. The best-selling platform surged past $1 billion cumulative bookings in FY25 Q2, making it our fastest offering to reach this milestone. Earlier this year, Palo Alto Networks doubled down on cloud security with the introduction of Cortex Cloud, converging its industry-leading CNAPP and CDR capabilities on the unified Cortex platform.

Cortex XSIAM 3.0 continues its relentless disruption of the security operations market by upending decades-old approaches to vulnerability management and email security. It further expands the scope of the SOC from reactive to proactive security to prevent breaches before they happen, in addition to its current powerful incident response capabilities. These new XSIAM innovations will help customers modernize legacy offerings across a total TAM of $37 billion.


Gonen Fink, SVP of Products, Cortex at Palo Alto Networks:
“Cortex XSIAM harnesses the power of the world’s largest and most comprehensive set of security data to transform our customers’ ability to rapidly counter evolving attacks with advanced AI and automation. This expansion of our groundbreaking SecOps platform merges best-in-class reactive with proactive security measures, allowing customers to achieve unprecedented risk reduction across their entire enterprise, from code to cloud to SOC.”

Cortex XSIAM 3.0 will enable customers to stop attacks at scale using AI-driven threat defense with Cortex Exposure Management and Advanced Email Security.

Cortex Exposure Management: Cut vulnerability noise by up to 99% with AI-driven prioritization and automated remediation spanning the entire enterprise:

  • See every exposure: Uncover risks with a unified solution spanning native network, endpoint and cloud scanners — extended with integration from any third-party source.
  • Cut alert noise based on actual risk, not compliance: Use AI to prioritize high-risk, exploitable vulnerabilities with no compensating controls, eliminating false alarms.
  • Close the loop with industry-leading automation to prevent future attacks: Seamlessly create new protections for critical risks in native network, endpoint and cloud security solutions. Automate remediation across first- and third-party tools with playbook automation.

Cortex Advanced Email Security: Stop sophisticated email-based attacks missed by other solutions, with advanced AI and automation:

  • Outsmart GenAI-powered threats: Detect advanced phishing and email-based threats based on attacker intent with LLM-powered analytics that continuously learn from emerging threats.
  • Stop attacks in real time with built-in automation: Automatically remove malicious emails, disable compromised accounts, and isolate affected endpoints with best-in-class workflow automation.
  • Extend industry-leading detection and response with complete email context: Correlate email, identity, endpoint and cloud data for unparalleled visibility into the full attack path for effective incident response.


Chris DeBrunner, VP of Security Operations, CBTS: 
“The transition to Cortex XSIAM has transformed our SOC operations at CBTS. Previously, we struggled with alert fatigue due to multi-console complexity, multiple data sources, disparate vendors, and labor-intensive tasks. With the consolidation of major security capabilities into one platform, we have achieved remarkable efficiencies. Our incident close-out rate has reached 100%, and we have significantly reduced our median time to resolution (MTTR) from days to, in some cases, seconds. The automation provided by XSIAM has been crucial in managing the alert overwhelm we faced, making our team more effective and less error-prone.”

Chase Hymel, CISO, State of Louisiana: 
“Discovering the capabilities of Cortex XSIAM was a game-changer for the State of Louisiana. It’s helped us to modernize our security infrastructure and set an example for other states to follow. By adopting XSIAM, we have significantly improved threat visibility and response effectiveness. Cortex XSIAM has allowed us to consolidate our security tools into one integrated platform, enhancing our security operations and protecting citizen data effectively. We have reduced MTTR from over 24 hours to under two minutes and automated the resolution of 86% of incidents.”

Availability: Exposure Management and Advanced Email Security are expected to be generally available to customers globally in FY25 Q4. For more details on Cortex XSIAM 3.0, read our blog here.



Register
 to attend: On Tuesday, April 29, 2025, from 2:30-4:30 p.m. PDT, join Palo Alto Networks Chairman and CEO Nikesh Arora for a virtual event: Hello Tomorrow, and dive into how innovations in AI-driven SecOps are redefining security from the inside out.

Don’t miss the launch event:

Register
 for a one-hour virtual event June 4-5, 2025, to be among the first to see Cortex XSIAM 3.0 in action.

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

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

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

 

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SOURCE Palo Alto Networks, Inc.

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Yiren Digital Files 2024 Annual Report on Form 20-F

PR Newswire


BEIJING
, April 28, 2025 /PRNewswire/ — Yiren Digital Ltd. (NYSE: YRD) (“Yiren Digital” or the “Company”), an AI-powered platform providing a comprehensive suite of financial and lifestyle services in China, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission on April 28, 2025.

The annual report can be accessed on the Company’s investor relations website at https://ir.yiren.com. The Company will provide a hard copy of the annual report containing its audited consolidated financial statements, free of charge, to its shareholders and holders of American Depositary Shares upon request.

About Yiren Digital 

Yiren Digital Ltd. is an advanced, AI-powered platform providing a comprehensive suite of financial and lifestyle services in China. Our mission is to elevate customers’ financial well-being and enhance their quality of life by delivering digital financial services, tailor-made insurance solutions, and premium lifestyle services. We support clients at various growth stages, addressing financing needs arising from consumption and production activities, while aiming to augment the overall well-being and security of individuals, families, and businesses.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Yiren Digital’s control. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to Yiren Digital’s ability to attract and retain borrowers and investors on its marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, PRC regulations and policies relating to the peer-to-peer lending service industry in China, general economic conditions in China, and Yiren Digital’s ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE or other stock exchange, including its ability to cure any non-compliance with the NYSE’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in Yiren Digital’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Yiren Digital does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

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SOURCE Yiren Digital

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Palo Alto Networks Bolsters SASE Capabilities for Modern Workplace

PR Newswire

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


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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

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SOURCE Palo Alto Networks, Inc.

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GE HealthCare management to present at upcoming investor conferences

GE HealthCare management to present at upcoming investor conferences

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

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

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

About GE HealthCare Technologies Inc.

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

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

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

GE HealthCare Investor Contact:

Carolynne Borders

(631) 662-4317

[email protected]

GE HealthCare Media Contact:

Jennifer Fox

(414) 530-3027

[email protected]

KEYWORDS: United States North America Nevada Illinois Florida

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

MEDIA:

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

PR Newswire

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


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

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

Capabilities of Prisma AIRS include:

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


Lee Klarich, Chief Product Officer for Palo Alto Networks:

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


Anand Oswal, SVP and GM, Palo Alto Networks

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

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

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

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

About Palo Alto Networks

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

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

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

 

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SOURCE Palo Alto Networks, Inc.

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

PR Newswire

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


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

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

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


Anand Oswal, SVP and GM, Palo Alto Networks

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


Ian Swanson, Co-Founder & CEO, Protect AI

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

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

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

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

About Palo Alto Networks

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

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

Forward-Looking Statements

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

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

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/palo-alto-networks-announces-intent-to-acquire-protect-ai-a-game-changing-security-for-ai-company-302439638.html

SOURCE Palo Alto Networks, Inc.

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Heritage Distilling Co. Reports Full Year 2024 Financial Results

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

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

Heritage reported 5.4% year over year revenue growth

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

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

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

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

Full Year 2024 Financial Highlights

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

Company Achievements Announced for 2024 and Q1 2025

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

Full Year 2024 Financial Results

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

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

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

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

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

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

Financial Results

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

Use of Non-GAAP Measures

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

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

About Heritage Distilling Company, Inc.

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

Forward-Looking Statements

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

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

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

Financial Summary Tables

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

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



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

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



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

December 31,

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



Heritage Distilling Holding Company, Inc.
EBITDA Analysis
    Years Ended

December 31,

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

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

December 31,

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



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

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

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

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

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

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

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

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

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

Philip Morris International: A Global Smoke-Free Champion

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

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

Philip Morris International

David Fraser

Philip Morris International

T. +41 (0)58 242 4500

E. [email protected]

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

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

MEDIA:

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The Cheesecake Factory Celebrates Mom With Special Online Gift Card Offer

The Cheesecake Factory Celebrates Mom With Special Online Gift Card Offer

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

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

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

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

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

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

Follow us on X atwww.x.com/cheesecake

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

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

*Terms and Conditions:

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

About The Cheesecake Factory Incorporated

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

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

PR Newswire

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


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

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

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

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

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

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

Digital Transformation and Enterprise Resource Planning

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

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

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

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

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

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

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SOURCE Robert Half