Market Newsdesk

B2B payor revenue grew 135% year-over-year

2Q 2023 Operating expenses of $24.2 million, down 32% year-over-year

Reduced Net Loss to $4.7 million and Adjusted EBITDA

¹

loss to $4.0 million, down 80% and 77% year-over-year, respectively

Raises FY 2023 Revenue and Adjusted EBITDA guidance; Reaffirms break-even by end of 1Q 2024

NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) — Talkspace, Inc. (NASDAQ: TALK), today reported second quarter 2023 financial results.

		Three Months				Six Months
Period Ended June 30, 2023 (Unaudited)		Results		Variance from Prior Year %		Results		Variance from Prior Year %
(In thousands unless otherwise noted)
Number of B2B eligible lives at period end (in millions)		110		42%		110		42%
Number of completed B2B sessions		200.5		109%		372.2		100%
Number of Consumer active members at period end		13.7		(32)%		13.7		(32)%
Total revenue		$35,645		19%		$68,981		15%
Gross profit		$17,812		22%		$34,560		17%
Gross margin %		50.0%				50.1%
Operating expenses		$24,220		(32)%		$50,007		(30)%
Net loss		$(4,704)		80%		$(13,462)		69%
Adjusted EBITDA1		$(3,977)		77%		$(10,407)		71%
Cash and cash equivalents at period end		$126,104		—		$126,104		—
(1) Adjusted EBITDA is a non-GAAP financial measure. For a definition of the measure and a reconciliation to the most directly comparable GAAP measure, see “Reconciliation of Non-GAAP Results to GAAP Results.”

Dr. Jon Cohen, CEO of Talkspace, said, “We built on the first quarter’s strong momentum in our payor business by expanding our relationships with commercial partners while activating a growing proportion of our member base. We continued to introduce product innovations and grow our clinical network while maintaining stringent quality standards, driving gains in access and engagement metrics and improving network productivity. As we look to the second half of the year and beyond, we remain confident in our ability to capitalize on the growing need for covered mental health services and to deliver profitable growth.”

Jennifer Fulk, CFO of Talkspace, said, “Our revenue growth continued to accelerate in the second quarter, with the business-to-business (“B2B”) categories contributing an increasing portion of overall revenue as planned. We unlocked significant efficiencies in our cost structure as we drove further operating leverage, accelerated collection timing and enhanced treasury operations, which enabled us to achieve positive cash flow for the quarter.”

Second Quarter 2023 Key Performance Metrics

• Revenue increased 19% over the prior-year period to $35.6 million, driven by an 82% year-over-year increase in the B2B revenue categories, partially offset by a 41% year-over-year consumer revenue decline.
• Gross profit increased 22% over the prior-year period to $17.8 million, and gross margin expanded to 50.0% from 48.7% year-over-year, driven by higher network productivity.
• Operating expenses were $24.2 million, down 32% year-over-year, driven by a reduction across all our operating cost categories.
• Net loss was $(4.7) million, an improvement from $(23.0) million in the second quarter of 2022, primarily driven by lower operating expenses and an increase in revenues.

Financial Outlook

The following guidance is based on current market conditions and expectations and what the Company knows today.

For the Fiscal Year 2023, Talkspace expects:

• Revenue to be in the range of $137 million to $142 million, improved from our previous expectations of $130 million to $135 million.
• Adjusted EBITDA loss to be in the range of $(16) million to $(19) million, improved from our previous expectations of $(19) million to $(21) million.

The Company expects to reach break-even Adjusted EBITDA by the end of the first quarter of 2024, with a cash balance of over $100 million.

Conference Call, Presentation Slides, and Webcast Details

The conference call will be available via audio webcast at investors.talkspace.com and can also accessed by dialing (888) 330-2391 for U.S. participants, or +1 (240) 789-2702 for international participants, and referencing participant code 2348878. A replay will be available shortly after the call’s completion and remain available for approximately 90 days.

About Talkspace

Talkspace (Nasdaq: TALK) is a leading virtual behavioral healthcare company committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. At Talkspace, we believe that mental healthcare is core to overall healthcare and should be available to everyone.

Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services from self-guided products to individual and couples therapy, in addition to psychiatric treatment and medication management. With Talkspace’s core psychotherapy offering, members are matched with one of thousands of licensed providers across all 50 states and can choose from a variety of subscription plans including live video, text or audio chat sessions and/or asynchronous text messaging.

All care offered at Talkspace is delivered through an easy-to-use, fully-encrypted web and mobile platform that meets HIPAA, federal, and state regulatory requirements. Talkspace covers approximately 110 million lives as of June 30, 2023, through our partnerships with employers, health plans, and paid benefits programs.

For more information, visit www.talkspace.com.

For Investors:

Neal Nagarajan
Sloane & Company
(301) 273-5662
[email protected]

For Media:

John Kim
SKDK
(310) 997-5963
[email protected]

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial performance, achieving profitability, business strategy and plans, market opportunity and expansion and objectives of our management for future operations. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast”, “future”, “intend,” “may,” “might”, “opportunity”, “plan,” “possible”, “potential,” “predict,” “project,” “should,” “strategy”, “strive”, “target,” “will,” or “would”, the negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many important factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to factors and the other risks and uncertainties described under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (“SEC”) on March 10, 2023, and our other documents filed from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise unless required to do so under applicable law. We do not give any assurance that we will achieve our expectations.

Talkspace, Inc. Condensed Consolidated Statements of Operations Unaudited
		Three Months Ended June 30,						Six Months Ended June 30,
		2023		2022		% Change		2023		2022		% Change
(in thousands, except percentages, share and per share data)
Revenue:
Payor revenue		$18,539		$7,880		135.3		$33,350		$15,990		108.6
DTE revenue		8,039		6,685		20.3		16,715		12,346		35.4
Total B2B revenue		26,578		14,565		82.5		50,065		28,336		76.7
Consumer revenue		9,067		15,279		(40.7)		18,916		31,658		(40.2)
Total revenue		35,645		29,844		19.4		68,981		59,994		15.0
Cost of revenues		17,833		15,297		16.6		34,421		30,426		13.1
Gross profit		17,812		14,547		22.4		34,560		29,568		16.9
Operating expenses:
Research and development, net		4,171		5,576		(25.2)		9,524		10,611		(10.2)
Clinical operations, net		1,675		2,316		(27.7)		3,276		4,092		(19.9)
Sales and marketing		13,045		18,931		(31.1)		26,514		40,339		(34.3)
General and administrative		5,329		8,792		(39.4)		10,693		16,802		(36.4)
Total operating expenses		24,220		35,615		(32.0)		50,007		71,844		(30.4)
Operating loss		(6,408)		(21,068)		69.6		(15,447)		(42,276)		63.5
Financial (income) expense, net		(1,712)		1,865		*		(2,136)		996		*
Loss before taxes on income		(4,696)		(22,933)		79.5		(13,311)		(43,272)		69.2
Taxes on income		8		89		(91.0)		151		110		37.3
Net loss		$(4,704)		$(23,022)		79.6		$(13,462)		$(43,382)		69.0
Net loss per share:
Basic and Diluted		$(0.03)		$(0.15)		80.0		$(0.08)		$(0.28)		71.4
Weighted average number of common shares:
Basic and Diluted		164,195,697		155,709,901				163,003,363		154,901,165
* Percentage not meaningful.

Talkspace, Inc. Condensed Consolidated Balance Sheets
		June 30, 2023				December 31, 2022
(in thousands)		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	126,104			$	138,545
Accounts receivable			8,420				9,640
Other current assets			2,920				4,372
Total current assets			137,444				152,557
Property and equipment, net			456				677
Intangible assets, net			2,157				2,529
Other assets			464				491
Total assets		$	140,521			$	156,254
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable		$	5,484			$	6,461
Deferred revenues			3,683				4,355
Accrued expenses and other current liabilities			10,444				16,502
Total current liabilities			19,611				27,318
Warrant liabilities			820				939
Other liabilities			295				461
Total liabilities			20,726				28,718
Commitments and contingencies
STOCKHOLDERS’ EQUITY:
Common stock			16				16
Additional paid-in capital			384,443				378,722
Accumulated deficit			(264,664	)			(251,202	)
Total stockholders’ equity			119,795				127,536
Total liabilities and stockholders’ equity		$	140,521			$	156,254

Talkspace, Inc. Condensed Consolidated Statements of Cash Flows Unaudited
		Six Months Ended June 30,
		2023				2022
(in thousands)
Cash flows from operating activities:
Net loss		$	(13,462	)		$	(43,382	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			608				697
Stock-based compensation			4,432				6,207
Remeasurement of warrant liabilities			(119	)			1,217
Decrease (increase) in accounts receivable			1,220				(1,650	)
Decrease in other current assets			1,452				5,622
(Decrease) increase in accounts payable			(977	)			381
Decrease in deferred revenues			(672	)			(1,236	)
Decrease in accrued expenses and other current liabilities			(6,058	)			(1,145	)
Other			(172	)			178
Net cash used in operating activities			(13,748	)			(33,111	)
Cash flows from investing activities:
Purchase of property and equipment			(10	)			(160	)
Proceeds from sale of property and equipment			28				—
Net cash provided by (used in) investing activities			18				(160	)
Cash flows from financing activities:
Proceeds from exercise of stock options			1,490				2,349
Payments for employee taxes withheld related to vested stock-based awards			(201	)			(67	)
Payments from reverse capitalization, net of transaction costs			—				(645	)
Net cash provided by financing activities			1,289				1,637
Net decrease in cash and cash equivalents			(12,441	)			(31,634	)
Cash and cash equivalents at the beginning of the period			138,545				198,256
Cash and cash equivalents at the end of the period		$	126,104			$	166,622

Non-GAAP Financial Measures

In addition to our financial results determined in accordance with GAAP, we believe adjusted EBITDA, a non-GAAP measure, is useful in evaluating our operating performance, and our management uses it as a key performance measure to assess our operating performance. Because adjusted EBITDA facilitates internal comparisons of our historical operating performance on a more consistent basis, we use this measure for business planning purposes and in evaluating acquisition opportunities. We also use adjusted EBITDA to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that this non-GAAP financial measure, when taken together with the corresponding GAAP financial measures, provides meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. We believe that the use of adjusted EBITDA is helpful to our investors as it is a metric used by management in assessing the health of our business and our operating performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP.

Some of the limitations of adjusted EBITDA include (i) adjusted EBITDA does not necessarily reflect capital commitments to be paid in the future and (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and adjusted EBITDA does not reflect these requirements. In evaluating adjusted EBITDA, you should be aware that in the future we will incur expenses similar to the adjustments described herein. Our presentation of adjusted EBITDA should not be construed as an inference that our future results will be unaffected by these expenses or any unusual or non-recurring items. Our adjusted EBITDA may not be comparable to similarly titled measures of other companies because they may not calculate adjusted EBITDA in the same manner as we calculate the measure, limiting its usefulness as a comparative measure. Adjusted EBITDA should not be considered as an alternative to loss before income taxes, net loss, loss per share, or any other performance measures derived in accordance with U.S. GAAP. When evaluating our performance, you should consider adjusted EBITDA alongside other financial performance measures, including our net loss and other GAAP results.

A reconciliation is provided below for adjusted EBITDA to net loss, the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review our financial statements prepared in accordance with GAAP and the reconciliation of our non-GAAP financial measure to its most directly comparable GAAP financial measure, and not to rely on any single financial measure to evaluate our business. We do not provide a forward-looking reconciliation Adjusted EBITDA guidance as the amount and significance of the reconciling items required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts. These reconciling items could be meaningful.

Adjusted EBITDA

We calculate adjusted EBITDA as net loss adjusted to exclude (i) depreciation and amortization, (ii) interest and other expenses (income), net, (iii) tax benefit and expense, and (iv) stock-based compensation expense.

Talkspace, Inc. Reconciliation of Non-GAAP Results to GAAP Results Unaudited
		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
(in thousands)
Net loss		$(4,704)		$(23,022)		$(13,462)		$(43,382)
Add:
Depreciation and amortization		302		268		608		697
Financial (income) expense, net(1)		(1,712)		1,865		(2,136)		996
Taxes on income		8		89		151		110
Stock-based compensation		2,129		3,839		4,432		6,207
Adjusted EBITDA		$(3,977)		$(16,961)		$(10,407)		$(35,372)
(1) For the three months ended June 30, 2023, financial (income), net, primarily consisted of $1.5 million of interest income from our money market accounts and $0.3 million in gains resulting from the remeasurement of warrant liabilities. For the six months ended June 30, 2023, financial (income), net, primarily consisted of $2.1 million of interest income from our money market accounts. For the three and six months ended June 30, 2022, financial expense net, primarily consisted of $2.1 million and $1.2 million, respectively, in losses resulting from the remeasurement of warrant liabilities.

 

 

SAN DIEGO, July 27, 2023 (GLOBE NEWSWIRE) — Bionano Genomics, Inc. (Nasdaq: BNGO) today announced that Erik Holmlin, Ph.D., Bionano’s president and chief executive officer will present at the Canaccord Genuity 43rd Annual Growth Conference on August 10, 2023.

Conference & Webcast Details

Date:	Thursday, August 10th, 2023
Time:	11:30 a.m. to 11:55 a.m. ET
Presenter:	Erik Holmlin, Ph.D., CEO of Bionano
Webcast:	https://wsw.com/webcast/canaccord89/bngo/2447258

A replay / recording of the session will be available following the conference through the Bionano website at https://ir.bionano.com/ for at least 30 days.

About the Canaccord Genuity 43rd Annual Growth Conference

This annual event brings together institutional investors from across the globe with some of the best and most promising growth companies in Canaccord Genuity’s core sectors – Technology, Healthcare & Life Sciences, Sustainability, Industrials, and Consumer & Retail.  

About Bionano

Bionano is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company’s mission is to transform the way the world sees the genome through OGM solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. The Company also offers an industry-leading, platform-agnostic software solution, which integrates next-generation sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. The Company additionally offers nucleic acid extraction and purification solutions using proprietary isotachophoresis (ITP) technology. For more information, visit www.bionano.com, www.bionanolaboratories.com or www.purigenbio.com.

CONTACTS

Company Contact:

Erik Holmlin, CEO
Bionano Genomics, Inc.
+1 (858) 888-7610
[email protected]

Investor Relations:

David Holmes
Gilmartin Group
+1 (858) 888-7625
[email protected]

BEDFORD, Mass. and LIVERPOOL, U.K., July 27, 2023 (GLOBE NEWSWIRE) — Berkshire Grey, Inc., a leader in AI-enabled robotic solutions that automate supply chain processes, and Maersk, an integrated logistics company working to connect and simplify its customers’ supply chains, today announce their first collaboration in the UK. The project, to be deployed ahead of peak in its 685,000 sq ft facility at SEGRO Logistics Park East Midlands Gateway, is part of Maersk’s key visions of leveraging cutting-edge technology to integrate logistics and offer flexible and resilient end-to-end solutions to its customers.

Details of the project:

• Maximize SKU coverage across a variety of Maersk customers / use cases
• Increase resilience and flexibility to the supply chain
• Continue to build on Maersk’s commitment to sustainability
• Fast deployment and minimal interruption to the existing warehouse infrastructure

The BG technology, deployed across multiple industry use-cases throughout North America, easily integrates into existing fulfillment processes to sort orders 3X faster, improves upstream batch inventory picking by up to 33% and handles 100% of typical SKU assortments, order profiles and packages. The successful deployment of the BG Robotic Shuttle Put Walls (BG RSPW) will enable Maersk to further optimize its warehouse operations and strengthen Maersk’s position further by providing a larger array of services for their customers.

“Berkshire Grey’s AI-enabled robotic solutions have a proven track record across various industries in North America and we are delighted to tap into these benefits for our customers in UK now,” says Fergus Whinham, Area Head of the “Fulfilled by Maersk” product in UK & Ireland. “This sophisticated, flexible system reflects our commitment to optimizing processes and better serving our customers in rapidly evolving markets.”

“This project represents an opportunity for BG to collaborate with the Maersk team on their vision to take its customers’ supply chains to the next level; streamlining processes and enhancing productivity through cutting-edge technology,” said Steve Johnson, President and COO of Berkshire Grey. “We are excited to collaborate closely, leveraging our expertise and passion for automation, to create a transformative impact for Maersk and their customers.”

About Berkshire Grey

Berkshire Grey, Inc., helps customers radically change the essential way they do business by delivering game-changing technology that combines AI and robotics to automate fulfillment, supply chain, and logistics operations. Berkshire Grey solutions are a fundamental engine of change that transform pick, pack, move, store, organize, and sort operations to deliver competitive advantage for enterprises serving today’s connected consumers. Berkshire Grey customers include Global 100 retailers and logistics service providers. More information is available at www.berkshiregrey.com.

Berkshire Grey and the Berkshire Grey logo are registered trademarks of Berkshire Grey. Other trademarks referenced are the property of their respective owners.

To learn more about Berkshire Grey, please visit BerkshireGrey.com and follow Berkshire Grey on LinkedIn, Twitter and YouTube.

About A.P. Moller – Maersk

A.P. Moller – Maersk is an integrated logistics company working to connect and simplify its customers’ supply chains. As a global leader in shipping services, the company operates in more than 130 countries and employs over 110,000 people worldwide. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels, and green fuels.

Contacts:

Media: Cailin Radcliffe
Berkshire Grey, Inc.
[email protected]

RENO, Nev., July 27, 2023 (GLOBE NEWSWIRE) — Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), a pioneer in sustainable lithium-ion battery recycling, today announced that it will report financial results for the second quarter ended June 30, 2023, and provide a business update after the market closes on Wednesday, August 9, 2023 and host a conference call that day at 4:30 p.m. ET.

The live webcast can be accessed at https://event.webcasts.com/aqms or from the investor relations section of the Company’s website at https://ir.aquametals.com/. Alternatively, interested parties can access the audio call by dialing 877-407-9708 (toll-free) or 201-689-8259 (international).

Following the conclusion of the live event, a replay will be available until February 9, 2024 by dialing 877-660-6853 or 201-612-7415 and using passcode 13740097. The webcast replay will also be available in the investor events section of the Aqua Metals website.

Additional Resources

Learn more about Aqua Metals’ Li AquaRefining Pilot and see updates at www.aquametals.com/pilot-recycling-hub

About Aqua Metals

Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The company is pioneering a sustainable recycling solution for materials strategic to energy storage and electric vehicle manufacturing supply chains. AquaRefining™ is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and minimal waste. Aqua Metals is based in Reno, NV and operates the first sustainable lithium battery recycling facility at the company’s Innovation Center in the Tahoe-Reno Industrial Center.

To learn more, please visit www.aquametals.com

Aqua Metals Social Media

Aqua Metals has used, and intends to continue using, its investor relations website (https://ir.aquametals.com), in addition to its Twitter, LinkedIn and YouTube accounts at https://twitter.com/AquaMetalsInc (@AquaMetalsInc), https://www.linkedin.com/company/aqua-metals-limited and https://www.youtube.com/channel/UCvxKNWcB69K0t7e337uQ8nQ respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contact Information:

Investor Relations

Bob Meyers & Rob Fink
FNK IR
646-878-9204
[email protected]

Media

Jennifer Johnson Avril
Warner Communications
917-982-9012
[email protected]

Source: Aqua Metals

CHINO, Calif., July 27, 2023 (GLOBE NEWSWIRE) — Karat Packaging Inc. (“Karat” or the “Company”) (Nasdaq: KRT), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced it will release its 2023 second quarter financial results after market close on Wednesday, August 9, 2023. The Company will host an investor conference call on the same day.

Call Date:	Wednesday, August 9, 2023
Time:	2:00 p.m. PT/5:00 p.m. ET
Phone:	877-418-4045 (domestic); 412-317-6745 (international)
Conference ID:	Karat Packaging Inc.
Webcast:	Accessible at https://irkarat.com/events-presentations/; archive available for approximately one year

About Karat Packaging Inc.

Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. The company’s eco-friendly Karat Earth® line offers quality, sustainably focused products that are made from renewable resources. Karat Packaging also offers customized solutions, including new product development and design, printing, and logistics services. To learn more about Karat Packaging, please visit the company’s website at www.karatpackaging.com.

Investor Relations and Media Contacts:


PondelWilkinson Inc.
Judy Lin or Roger Pondel
310-279-5980
[email protected]

Dallas, Texas, July 27, 2023 (GLOBE NEWSWIRE) — Mangoceuticals, Inc. (NASDAQ:MGRX) (“MangoRx” or the “Company”), a company focused on developing, marketing and selling a variety of men’s health and wellness products via a secure telemedicine platform, including its uniquely formulated erectile dysfunction (ED) drug branded “Mango,” is excited to announce that the Company has been engaged as an exclusive new sponsor by ITS MEDIA for the wildly popular Pillow Talk podcast. The arrangement also covers ad placement on Pillow Talk’s popular related Instagram and TikTok feeds.

The Pillow Talk podcast boasts a ranking of #1 among all Canadian podcasts in the world. It also holds the #3 ranking in the world in terms of most viewed podcast clips on social media and the #6 ranking in terms of downloads within the global Comedy podcast segment. The podcast has been downloaded over Apple and Spotify over 272,000 times in the past three months. It has also racked up over 12 million impressions per month on YouTube and Twitter.

Pillow Talk also has an enormous social media footprint, with over 36 million accounts reached on Instagram in the past 90 days and more than 25 million TikTok views in the past 60 days.

“We look forward to working with Ryan and his team at Pillow Talk as we see this as another true top-tier male focused media channel capable of delivering enormous results in terms of connecting MangoRx with our target demographic,” commented Jacob Cohen, CEO and Co-Founder of MangoRx.

Management notes that the primary ads will occur in the form of “Mid Roll Promotional spots” with the show’s hosts speaking organically on behalf of MangoRx products in a non-scripted read.

Ryan Pownall, host of Pillow Talk, stated, “We are so excited about our partnership with MangoRx! We love the brand, and we love the team. But most of all, we love the product. Just like Pillow Talk, Mango is 10/10 on & off the court. My girlfriend says THANK YOU.”

About Mango

Created using a special formulation featuring the same active ingredient as in Cialis™ (Tadalafil), each part of the Mango formulation plays a critical role in helping men achieve optimum performance. We believe the key to our success lies in our unique blend of ingredients, which are used in U.S. Food and Drug Administration (“FDA”) approved drugs. Mango contains a combination of Tadalafil, Oxytocin, and L-Arginine that have been traditionally used to treat sexual dysfunction.

Mango is a prescription medication that must be approved by a physician. After an individual has completed an online tele-health visit, our network of medical providers will review and approve a prescription if medically appropriate. Mango is a rapidly dissolved tablet (RDT) that is absorbed orally. For best results, we advise taking Mango at least 15 minutes before engaging in sexual activity. Tadalafil, one of the main ingredients in Mango, typically has effects that last up to 36 hours.

About
Mangoceuticals

Mangoceuticals, Inc. is a company focused on developing, marketing, and selling a variety of men’s health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men’s wellness telemedicine services and products as a growing sector and especially related to the area of erectile dysfunction (ED). The Company has developed a new brand of ED product under the brand name “Mango” (think: “Man, Go!”).

For more information, please visit www.MangoRx.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to; our ability to obtain additional funding and generate revenues to support our operations; risks associated with our ED product which have not been, and will not be, approved by the U.S. Food and Drug Administration (“FDA”) and have not had the benefit of the FDA’s clinical trial protocol which seeks to prevent the possibility of serious patient injury and death; risks that the FDA may determine that the compounding of our planned products does not fall within the exemption from the Federal Food, Drug, and Cosmetic Act (“FFDCA Act”) provided by Section 503A; risks associated with related party relationships and agreements; the effect of data security breaches, malicious code and/or hackers; competition and our ability to create a well-known brand name; changes in consumer tastes and preferences; material changes and/or terminations of our relationships with key parties; significant product returns from customers, product liability, recalls and litigation associated with tainted products or products found to cause health issues; our ability to innovate, expand our offerings and compete against competitors which may have greater resources; our significant reliance on related party transactions; the projected size of the potential market for our technologies and products; risks related to the fact that our Chairman and Chief Executive Officer, Jacob D. Cohen, has majority voting control over the Company; risks related to the significant number of shares in the public float, our share volume, the effect of sales of a significant number of shares in the marketplace, and the fact that the majority of our shareholders paid less for their shares than the public offering price of our common stock in our recent initial public offering; the fact that we have a significant number of outstanding warrants to purchase shares of common stock at $1.00 per share, the resale of which underlying shares have been registered under the Securities Act of 1933, as amended; our ability to build and maintain our brand; cybersecurity, information systems and fraud risks and problems with our websites; changes in, and our compliance with, rules and regulations affecting our operations, sales, marketing and/or our products; shipping, production or manufacturing delays; regulations we are required to comply with in connection with our operations, manufacturing, labeling and shipping; our dependency on third-parties to prescribe and compound our ED product; our ability to establish or maintain relations and/or relationships with third-parties; potential safety risks associated with our Mango ED product, including the use of ingredients, combination of such ingredients and the dosages thereof; the effects of high inflation, increasing interest rates and economic downturns, including potential recessions, as well as macroeconomic, geopolitical, health and industry trends, pandemics, acts of war (including the ongoing Ukraine/Russian conflict) and other large-scale crises; our ability to protect intellectual property rights; our ability to attract and retain key personnel to
manage our business effectively; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; overhang which may reduce the value of our common stock; volatility in the trading price of our common stock; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties.

More information on potential factors that could affect the Company’s financial results is included from time to time in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, including the Company’s Quarterly Report on Form 10-Q for the Quarter ended March 31, 2023. These filings are available at www.sec.gov and at our website at https://investors.mangorx.com/sec-filings. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

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FOR INVESTOR RELATIONS

Mangoceuticals Investor Relations

Email: [email protected]

MEDIA CONTACT

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[email protected]

SOURCE: Mangoceuticals Inc.

DANBURY, Conn., July 27, 2023 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq: FCEL) has taken significant strides in its Korean market re-entry by forging relationships with domestic clean energy electric utilities that have installed FuelCell Energy power platforms.

The company signed a long-term service agreement (LTSA) with Noeul Green Energy on July 27 and has also established a memorandum of understanding (MOU) with Gyeonggi Green Energy, both aimed at the continuation of stable fuel cell operations and advancing eco-friendly power generation in Korea.

Noeul Green Energy and Gyeonggi Green Energy will enjoy the same superior service FuelCell Energy has provided Korean Southern Power Company since installing a 20-megawatt (MW) FuelCell Energy power platform in 2018.

FuelCell Energy President and Chief Executive Officer Jason Few said, “Through this LTSA and MOU, we are delighted to continue building our relationships with leading generation companies in the Seoul metropolitan area and support their clean energy power delivery commitments in Korea.”

Few added, “Moving forward, Noeul Green Energy and Gyeonggi Green Energy will receive best in class customer service, and benefit from the technology advances integrated into our next generation stack modules. We will continue to enhance our technology, improve stack life as we have demonstrated since our first commercial product launch in 2003, and improve system efficiency, contributing to sustainable and efficient energy production.”

Long-Term Service Agreement with Noeul Green Energy

The LTSA with Noeul Green Energy marks a significant milestone in the collaboration between the two companies, focused on ensuring uninterrupted fuel cell operation at the power plants, a reduction in emissions and improved service delivery.

The site contains eight SureSource 3000 carbonate fuel cell platforms, operating at an output of 20 MW, enough to power around 43,000 households and produce 82 billion kcal of clean heat per year, supplying heat to around 6,500 households. Through this LTSA, the replacement of the 16 modules and operations of the power plant over the next 14 years will be overseen by FuelCell Energy. The Noeul Green fuel cell park, capable of producing approximately 150 million kWh of eco-friendly electricity annually, has been in operation since December 2016.

Noeul Green Energy CEO Ko Chang-suk stated, “FuelCell Energy’s ongoing efforts to enhance profitability for their utility partners through initiatives like extending fuel cell lifespan and improving energy efficiency are highly commendable, fostering mutual benefits. Leveraging the LTSA with FuelCell Energy, Noeul Green Energy is committed to fulfilling its original role as an eco-friendly power plant while also exploring possibilities for transitioning into a clean hydrogen power plant in the future.”

Memorandum of Understanding with Gyeonggi Green Energy

In addition to the LTSA, FuelCell Energy signed a MOU with Gyeonggi Green Energy.

Located within the Hwaseong Balan Industrial Complex in Korea, Gyeonggi Green Energy houses a 58.8 MW fuel cell park, the largest fuel cell power platform operating anywhere in the world, equipped with 21 SureSource 3000 2.8 MW fuel cell platforms.

With the capacity to supply electricity to approximately 135,000 households, it can generate up to 460,000 MWh of power. It also produces approximately 250 billion kcal of medium-temperature water for heating purposes annually, which can be supplied to around 20,000 households.

Gyeonggi Green Energy CEO Kim Dae-young, stated, “As a provider of fuel cell technology, FuelCell Energy is a practical technological partner for our hydrogen fuel cell power generation project at Gyeonggi Green Energy. We are committed to playing a leading role and making every effort as FuelCell Energy’s representative business partner in showcasing a diverse range of forward-looking hydrogen fuel cell technologies in Korea.”

Kim further added, “Ultimately, we aim to welcome the era of the hydrogen economy and low-carbon society, presenting the future landscape of South Korea’s new energy industry with eco-friendly and highly efficient decentralized energy sources.”

About FuelCell Energy

FuelCell Energy is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety, and global urbanization. It collectively holds more than 450 fuel cell technology patents in the United States and globally. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments, and municipalities. The Company’s solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe.

About Noeul Green Energy

Noeul Green Energy is a special purpose corporation (SPC) established to undertake an eco-friendly hydrogen fuel cell power generation project in line with the government’s policies on the development and expansion of new and renewable energy, as well as Seoul City’s energy self-reliance policy. Located within Noeul Park in Sangam-dong, Mapo-gu, Seoul, Noeul Green Energy has constructed a fuel cell power plant with a capacity of 20 MW (8 units of 2.5 MW each) by utilizing unused urban infrastructure (waste treatment facilities) sites. The commercial operation of the power plant commenced in December 2016. Annually, the power plant generates approximately 160 million kWh, which is roughly equivalent to the electricity consumption of around 45,000 households for one year.

About Gyeonggi Green Energy

Gyeonggi Green Energy is an energy-focused company affiliated with Korea Hydro & Nuclear Power. Since 2013, it has been operating the world’s largest 58.8 MW MCFC hydrogen power plant. This environmentally friendly power plant utilizes clean fuel and liquefied natural gas (LNG) to produce and supply electricity and heat using fuel cells. The plant’s impressive capabilities include a CO₂ reduction effect of 220,000 tons and a substitution effect for crude oil imports of 120,000 TOE (Tonne of Oil Equivalent), making it the largest of its kind employing a single type of fuel cell (MCFC) in the world. Moreover, Gyeonggi Green Energy aims to play a future-oriented role and make dedicated efforts as an eco-friendly decentralized energy source in line with Korea’s domestic situation.

Media Contact: Kathleen Blomquist


[email protected]


203-546-5844

Investor Contact: Tom Gelston


[email protected]


203-830-7494

NEW YORK and LONDON, July 27, 2023 (GLOBE NEWSWIRE) — Akari Therapeutics, Plc (Nasdaq: AKTX), a late-stage biotechnology company developing advanced therapies for autoimmune and inflammatory diseases, today announced that the European Commission granted orphan drug designation to nomacopan as a treatment in hematopoietic stem cell transplantation following the European Medicines Agency positive opinion in June. Akari is currently conducting a registrational Phase 3 study of nomacopan in pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy (HSCT-TMA). Additionally, the company is moving forward into a Phase 3 double-blind placebo-controlled clinical trial of nomacopan in adult HSCT-TMA with enrollment expected to begin in 2024.

This orphan drug designation is an important addition to the Rare Pediatric Disease (which entitles Akari to a Priority Review Voucher at approval), Orphan Drug (pediatric and adult), and Fast Track (pediatric) designations already granted to nomacopan in HSCT-TMA by the U.S. Food and Drug Administration.

Orphan drug designation is reserved for medicines treating rare, life-threatening, or chronically debilitating diseases. There are currently no approved therapies for HSCT-TMA, a rare condition with an 80% mortality rate in high-risk (severe) pediatric and adult patients.

About Akari Therapeutics

Akari Therapeutics, plc (Nasdaq: AKTX) is a biotechnology company developing advanced therapies for autoimmune and inflammatory diseases. Akari’s lead asset, investigational nomacopan, is a bispecific recombinant inhibitor of complement C5 activation and leukotriene B4 (LTB4) activity. Akari’s pipeline includes a Phase 3 clinical trial program investigating nomacopan for severe pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy (HSCT-TMA). Akari has been granted Orphan Drug, Fast Track and Rare Pediatric Disease designations from the FDA for nomacopan for the treatment of pediatric HSCT-TMA. Akari’s pipeline also includes a clinical program developing nomacopan for adult HSCT-TMA and pre-clinical research of long-acting PAS-nomacopan in geographic atrophy (GA). For more information about Akari, please visit akaritx.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies, and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control. Such risks and uncertainties for our company include, but are not limited to: needs for additional capital to fund our operations, our ability to continue as a going concern; uncertainties of cash flows and inability to meet working capital needs; an inability or delay in obtaining required regulatory approvals for nomacopan and any other product candidates, which may result in unexpected cost expenditures; our ability to obtain orphan drug designation in additional indications; risks inherent in drug development in general; uncertainties in obtaining successful clinical results for nomacopan and any other product candidates and unexpected costs that may result there; difficulties enrolling patients in our clinical trials; failure to realize any value of nomacopan and any other product candidates developed and being developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; inability to develop new product candidates and support existing product candidates; the approval by the FDA and EMA and any other similar foreign regulatory authorities of other competing or superior products brought to market; risks resulting from unforeseen side effects; risk that the market for nomacopan may not be as large as expected risks associated with the impact of the COVID-19 pandemic; inability to obtain, maintain and enforce patents and other intellectual property rights or the unexpected costs associated with such enforcement or litigation; inability to obtain and maintain commercial manufacturing arrangements with third party manufacturers or establish commercial scale manufacturing capabilities; the inability to timely source adequate supply of our active pharmaceutical ingredients from third party manufacturers on whom the company depends; unexpected cost increases and pricing pressures and risks and other risk factors detailed in our public filings with the U.S. Securities and Exchange Commission, including our most recently filed Annual Report on Form 20-F filed with the SEC. Except as otherwise noted, these forward-looking statements speak only as of the date of this press release and we undertake no obligation to update or revise any of these statements to reflect events or circumstances occurring after this press release. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.

For more information

Investor Contact:
Mike Moyer
LifeSci Advisors
(617) 308-4306
[email protected]

Media Contact:
Eliza Schleifstein
Schleifstein PR 
(917) 763-8106
[email protected]

SAN DIEGO, July 27, 2023 (GLOBE NEWSWIRE) —


Genasys Inc.


(NASDAQ: GNSS), the global provider of Protective Communications solutions, today announced a new multi-year contract for Genasys Protect™ Platform with Boulder County Colorado extending Genasys coverage in the state to 10 counties and two cities as agencies continue to modernize emergency response and critical communications and management.

Boulder County joins many Colorado communities prone to wildfires and floods in deploying Genasys solutions. Together, the network of Genasys users across jurisdictions have emergency preparation and response solutions with a flexible data foundation that can aggregate and distill crucial information. They can execute emergency response plans and take action based on a complete and unified operating picture, helping to meet the specific needs of emergency management and the public they aim to protect.

Boulder Fire launched Genasys in late 2022, on the one-year anniversary of the Marshall Fire, a grass fire in Boulder County that became the most destructive fire in the state’s history. Using zone-based planning and predictive simulation, the decision assistance around critical evacuation facilities is aiding Boulder first responders with evacuation planning.

“The Office of Disaster Management for the City of Boulder and Boulder County is excited to have Genasys Protect coverage across the region, including all municipalities and special districts,” said Michael Chard, Director of the Office of Disaster Management. “This solution enhances the public’s understanding of evacuation orders with an accessible map, additional messaging support, and locations of evacuation sites, shelters, and road closures. It also provides valuable operational decision-making support for first responders, offering detailed data on critical evacuation sites, fire modeling, and evacuation routes. Genasys Protect’s integration with our emergency notification system in the coming year will further elevate it as a valuable alerting tool, community preparedness program, and operational planning, training, and decision support platform.”

To date, over 12 cities and counties in Colorado have implemented Genasys. In addition, Genasys solutions are in more than 500 cities, counties and states in the U.S. – including 34 of 58 counties in California alone – to ensure organizations and public safety agencies are Ready when it matters™.

“Boulder County sets the bar high in emergency response management, and Genasys is proud to support their efforts,” said Paul Neyman, VP of Sales, Genasys, Inc. “Our tech-forward approach enables firefighters to evacuate areas by highlighting zones on a preloaded map, providing seamless coordination among jurisdictions and real-time updates to the public for effective emergency response.”

Genasys Protect is a SaaS-based platform offering a comprehensive preparedness, response, and analytics software and systems portfolio. It combines real-time zone-based mapping, mass notification technology, and long-range acoustic devices for audible alerts. It facilitates a unified operating picture among emergency management, law enforcement, fire services, and the community. With integrated multichannel communications across various platforms, including an interactive web and mobile app that keeps people informed about critical events in their zones and surrounding areas, Genasys Protect empowers effective planning and management before, during, and after critical events, revolutionizing emergency management capabilities and ensuring safety.

About Genasys Inc.

Genasys Inc. (NASDAQ: GNSS) is the global provider of Protective Communications Solutions, offering Genasys Protect, the first and only complete portfolio of Protective Communications Software and Systems. Through Genasys Protect, the Company serves the following markets and sectors: federal governments and the military; state and local governments, agencies, and education (SLED); and enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive. Genasys Protective Communications Solutions have a diverse range of applications, including emergency warning and highly customizable mass notification for public safety; critical event management for enterprise companies; de-escalation for defense and law enforcement; as well as automatic detection of real-time threats like active shooters and severe weather. Genasys today protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties and states in the U.S. For more information, visit genasys.com.

Forward-Looking Statements

Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments, and other factors that we believe are appropriate under the circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation the business impact of epidemics or pandemics, geopolitical conflict, and other events that may affect our supply chain, and other risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. Risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management’s expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended September 30, 2022. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.

###

Investor Relations Contact
Brian Alger, CFA
SVP, IR and Corporate Development
[email protected]
(858) 676-0582

Media Contact:
Erin Zwirn
Scratch Marketing and Media
[email protected]

Passwordless authentication secured and simplified with authID’s facial biometric, multi-factor authentication

DENVER, CO, July 27, 2023 (GLOBE NEWSWIRE) — : authID (Nasdaq: AUID), a leading provider of secure identity authentication solutions, and ABM (NYSE: ABM), one of the world’s largest providers of facility services and solutions, with over 100,000 employees, announced today that they have signed an agreement to deploy authID’s identity authentication solutions to optimize facilities’ operations and secure employee access across shared devices. authID’s strong biometric authentication services will allow ABM to deploy next-generation security, while delivering a cost-effective and intuitive user authentication experience to critical workforce applications.

Organizations that deploy shared workforce devices battle constant attacks by cybercriminals who prey on passwords, legacy authentication, and employee error. Corporate IT teams must address significant shared device authentication challenges including difficult user experiences, shared passwords, hardware tokens for MFA, and ultimately ensuring that an employee is who they say they are when accessing enterprise resources. Next-generation authentication that offers a highly secure, cost-effective, and streamlined user experience across a range of shared workstations, laptops and mobile devices is critical to accelerating a zero-trust security framework.

authID’s patented identity platform and its streamlined, cloud-based facial biometric authentication will help reinforce ABM’s enterprise security with passwordless login across shared corporate devices. ABM employees, deployed across diverse customer environments including aviation, education, healthcare, and hospitality, will be able to quickly authenticate to vital ABM corporate applications, with a simple facial biometric capture, while authID seamlessly protects against attacks.

authID will help ABM reduce operational complexities, while delivering an easy user authentication experience—without the added costs or challenges of requiring employees to carry physical tokens or rely on secondary personal mobile devices.  Further, authID will provide off-line authentication to allow secure systems access when internet connectivity is unavailable, a difficult challenge given the diverse physical environments in which ABM employees are deployed.  

“We are excited to partner with ABM to deliver the best possible, passwordless employee authentication experience,” said Rhon Daguro, CEO of authID. “We’ve dedicated our entire mission to providing the fastest and easiest passwordless security on the market. Our platform ensures legitimate users access shared devices and enterprise systems as quickly as possible, helping them perform their jobs securely, day after day, and enabling ABM to operate as efficiently as possible, with the highest levels of security.”

“At ABM, we are focused on elevating the client and team member experience through technology and data,” said Stephanie Franklin-Thomas, Chief Information Security Officer of ABM. “We selected authID for its combination of security, seamless user experience, shared device support and cost-effective delivery. Their innovative biometric authentication solutions offer the ultimate in passwordless security, accuracy, and speed.”

About authID Inc.

At authID® (Nasdaq: AUID), We Are Digital Identity®. authID provides secure identity verification and authentication through Verified™, an easy-to-integrate strong authentication platform. Verified combines document-based identity verification with strong FIDO2 passwordless device authentication and cloud biometrics to deliver identity-first cybersecurity for both workforce and consumer applications. Powered by sophisticated biometric and artificial intelligence technologies, authID establishes trusted digital identities, binds an identity to provisioned devices, and eliminates the risks of passwords to deliver the faster, frictionless, and accurate user identity solutions demanded by today’s digital ecosystem.

About ABM

ABM (NYSE: ABM) is one of the world’s largest providers of facility services and solutions. A driving force for a cleaner, healthier, and more sustainable world, ABM provides essential services and forward-looking performance solutions that improve the spaces and places that matter most. From curbside to rooftop, ABM’s comprehensive services include janitorial, engineering, parking, electrical and lighting, energy and electric vehicle charging infrastructure, HVAC and mechanical, landscape and turf, and mission critical solutions. ABM serves a wide range of industries – from commercial office buildings to universities, airports, hospitals, data centers, manufacturing plants and distribution centers, entertainment venues and more. Founded in 1909, ABM serves over 20,000 clients, with annualized revenue approaching $8 billion and more than 100,000 team members in 350+ offices throughout the United States, United Kingdom, Republic of Ireland, and other international locations. For more information, visit www.abm.com.

authID PR Contact

Rhon Daguro, CEO
[email protected]

ABM PR Contact

Michael Valentino
[email protected]

Forward-Looking Statements

This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein, including, without limitation, those regarding the plans and objectives of management for future operations of both authID Inc. and its customers or business partners, are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding authID’s present and future business strategies, and the environment in which authID expects to operate in the future, and successful implementation of the services which are the subject of the referenced agreement, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the Company’s ability to attract and retain customers; changes in laws, regulations and practices; changes in domestic and international economic and political conditions, the as yet uncertain impact of the war in Ukraine, inflationary pressures,  increases in interest rates, and others. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2022 filed at www.sec.gov and other documents filed with the SEC for other 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.