Market Newsdesk

PACCAR Achieves Excellent Financial Performance

Strong Global Demand for Trucks, Parts and Financial Services Drive Results

BELLEVUE, Wash.–(BUSINESS WIRE)–
“PACCAR reported record revenues and excellent net income in the first quarter of 2023,” said Preston Feight, chief executive officer. “PACCAR’s results reflect ongoing strong demand for premium quality DAF, Peterbilt and Kenworth trucks, aftermarket parts and financial services worldwide. I am very proud of our employees and dealers who have delivered outstanding trucks and transportation solutions to our customers.”

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230425005257/en/

PACCAR achieved record quarterly revenues of $8.47 billion in the first quarter of 2023, compared to the $6.47 billion reported in the same period in 2022. The company reported net income of $733.9 million ($1.40 per diluted share) in the first quarter of 2023, including a $446.4 million after-tax, non-recurring charge related to civil litigation in Europe. The civil litigation followed a 2016 settlement with the European Commission regarding an investigation of all European truck manufacturers. Excluding the non-recurring charge, the company earned adjusted net income (non-GAAP)¹ of $1.18 billion ($2.25 per diluted share) in the first quarter of 2023. PACCAR achieved net income of $600.5 million ($1.15 per diluted share) in the first quarter last year.

Feight added, “PACCAR’s long-term investments in new truck models, advanced manufacturing and a dynamic aftermarket parts business are contributing to PACCAR’s higher operating margins. DAF, Peterbilt and Kenworth vehicles deliver premium quality and industry-leading fuel efficiency, which benefits customers’ operations. PACCAR is also investing in next generation battery electric and hydrogen powertrains, development of the PACCAR Autonomous Vehicle Platform, and enhanced PACCAR Connect telematics.”

Highlights – First Quarter 2023

Highlights of PACCAR’s financial results during the first quarter of 2023 include:

• Record consolidated revenues of $8.47 billion.

• Net income of $733.9 million.

• Adjusted net income (non-GAAP)¹ of $1.18 billion, excluding the $446.4 million non-recurring charge related to civil litigation in Europe.

• Record PACCAR Parts revenue of $1.62 billion.

• Record PACCAR Parts pretax income of $438.6 million.

• PACCAR Financial Services pretax income of $148.8 million.

• Cash provided by operations of $684.8 million.

• Capital investment of $132.9 million and R&D expense of $97.2 million.

• Record stockholders’ equity of $13.88 billion.

• Manufacturing cash and marketable securities of $5.92 billion.

¹ See attached supplementary information on non-GAAP financial measures.

Strong Global Truck Markets

“Good freight markets and strong customer demand are driving the resilient truck market in North America,” said Darrin Siver, PACCAR executive vice president. “Kenworth and Peterbilt vehicles provide customers with industry-leading fuel efficiency, which enhances their operating performance and benefits the environment.” U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 280,000-320,000 trucks in 2023.

Harald Seidel, DAF president, said, “Robust truck demand in Europe for the innovative, aerodynamic DAF XD, XF, XG and XG+ trucks is due to their best-in-class fuel efficiency and safety features, and superior driver comfort.” European truck industry registrations in the above 16-tonne market in 2023 are estimated to be in the range of 280,000-320,000 trucks.

Lance Walters, DAF Brasil president, commented, “DAF Brasil is celebrating its tenth year of operations this year. The durability and reliability of DAF’s premium above 16-tonne trucks, and strong customer demand, are driving DAF Brasil to record market share.” The South American above 16-tonne truck market is projected to be in the range of 115,000-125,000 trucks in 2023. DAF Brasil achieved a record 8.6% market share in the Brasil above 16-tonne market in the first quarter of 2023, compared to 6.9% in 2022.

PACCAR Parts Achieves Record Revenues and Profits

PACCAR Parts achieved record quarterly pre-tax income of $438.6 million, 29% higher than the $340.2 million earned in the first quarter of 2022. First quarter 2023 revenues were a record $1.62 billion compared to $1.39 billion reported in the first quarter of 2022. Laura Bloch, PACCAR vice president and PACCAR Parts general manager, said, “PACCAR Parts is accelerating its high margin business by providing strategic, technology-driven aftermarket solutions that deliver greater uptime and profitability for its customers. PACCAR Parts’ excellent performance reflects investments in its TRP all-makes parts and TRP stores, technologies such as e-commerce and managed dealer inventory, and a growing number of PACCAR trucks with PACCAR powertrains in operation.”

PACCAR Parts’ 18 global parts distribution centers support more than 2,000 DAF, Kenworth and Peterbilt dealer sales, parts and service locations, and more than 250 TRP stores. These independent, well-capitalized dealers provide an unparalleled level of service to customers, complementing the premium quality of DAF, Kenworth and Peterbilt vehicles.

PACCAR Financial Services Achieves Excellent Quarterly Profits

PACCAR Financial Services (PFS) achieved strong pretax income of $148.8 million in the first quarter of 2023, compared to $147.0 million earned in the first quarter of 2022. First quarter 2023 revenues were $423.2 million compared to $366.2 million in the same quarter of 2022. “PFS achieved excellent results due to the high quality of its growing portfolio, and very good used truck performance. PFS is leveraging investments in its 13 worldwide used truck centers to sell an increased number of used trucks at higher retail prices,” said Todd Hubbard, PACCAR vice president. Kenworth and Peterbilt truck resale values command a 10-20% premium over competitors’ trucks.

PFS has a portfolio of 220,000 trucks and trailers, with total assets of $17.91 billion. PacLease, a major full-service truck leasing company in North America and Europe with a fleet of over 41,000 vehicles, is included in this segment. “PACCAR’s strong balance sheet, complemented by its A+/A1 credit ratings, enables PFS to offer competitive retail financing to Kenworth, Peterbilt and DAF dealers and customers in 26 countries on four continents,” said Craig Gryniewicz, PACCAR Financial Corp. president. “PACCAR Financial Services has excellent access to the debt markets, issuing $800 million in medium-term notes during the first quarter of 2023.”

Capital and R&D Investments in Products, Technologies and Facilities

PACCAR’s consistent long-term profits, strong balance sheet, and focus on quality, technology and innovation have enabled the company to invest $7.4 billion in world-class facilities, next generation products and state of the art technologies during the past decade. PACCAR invested $132.9 million in capital projects and $97.2 million in research and development expenses in the first quarter of 2023. Harrie Schippers, president and chief financial officer, said, “Capital expenditures are projected to be in the range of $600-$650 million and research and development expenses are estimated to be in the range $380-$420 million in 2023. PACCAR is increasing its investment in next generation clean diesel and electric powertrain technologies, autonomous driving systems, connected vehicle services, advanced manufacturing and distribution capabilities.”

DAF is expanding its production facilities in Eindhoven with a new electric truck assembly factory to meet increasing customer demand. DAF XD and XF Electric trucks provide a range of over 300 miles, enabling customers to use zero emissions transport solutions in several applications, including regional haul, local distribution and refuse.

PACCAR Announces Investment in Platform Science

PACCAR announced last month that it made a minority equity investment in its connected truck partner, Platform Science. The strategic investment complements the two companies’ partnership, which will integrate Platform Science’s Virtual Vehicle technology with the PACCAR Connect telematics system.

John Rich, PACCAR chief technology officer, said, “PACCAR is pleased to deepen our strategic relationship by investing in Platform Science. PACCAR Connect will provide the industry with a user-friendly, customizable and productive connected truck solution, enhancing operations for customers and increasing recurring digital services revenue for PACCAR. We look forward to launching the system on Kenworth and Peterbilt trucks in 2024.”

PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced powertrains, provides financial services and information technology, and distributes truck parts related to its principal business.

PACCAR will hold a conference call with securities analysts to discuss first quarter earnings on April 25, 2023, at 8:00 a.m. Pacific time. Interested parties may listen to the call by selecting “Q1 Earnings Webcast” at PACCAR’s homepage. The webcast will be available on a recorded basis through May 2, 2023. PACCAR shares are traded on the Nasdaq Stock Market, symbol PCAR. Its homepage is www.paccar.com.

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in PACCAR’s filings with the Securities and Exchange Commission.

PACCAR Inc
SUMMARY STATEMENTS OF OPERATIONS
(in millions except per share amounts)
		Three Months Ended
		March 31
		2023				2022
Truck, Parts and Other:
Net sales and revenues		$	8,050.1			$	6,106.4
Cost of sales and revenues			6,493.1				5,285.5
Research and development			97.2				78.0
Selling, general and administrative			159.8				148.0
Interest and other expenses (income), net			578.8	(1)			(32.0	)
Truck, Parts and Other Income Before Income Taxes			721.2				626.9
Financial Services:
Revenues			423.2				366.2
Interest and other			236.1				183.3
Selling, general and administrative			35.2				35.7
Provision for losses on receivables			3.1				.2
Financial Services Income Before Income Taxes			148.8				147.0
Investment income (loss)			49.0				(2.5	)
Total Income Before Income Taxes			919.0				771.4
Income taxes			185.1				170.9
Net Income		$	733.9			$	600.5
Net Income Per Share:
Basic		$	1.40			$	1.15
Diluted		$	1.40			$	1.15
Weighted Average Shares Outstanding:
Basic			523.5				522.4
Diluted			524.4				523.3
Dividends declared per share		$	.25			$	.23

(1) Includes a $600.0 million non-recurring charge related to civil litigation in Europe (EC-related claims).

PACCAR Inc
CONDENSED BALANCE SHEETS
(in millions)
			March 31			December 31
			2023			2022
ASSETS
Truck, Parts and Other:
Cash and marketable securities			$	5,922.2		$	6,158.9
Trade and other receivables, net				2,347.0			1,919.8
Inventories, net				2,609.2			2,198.8
Property, plant and equipment, net				3,511.6			3,468.4
Equipment on operating leases and other, net				2,526.6			2,350.0
Financial Services Assets				17,909.8			17,179.6
			$	34,826.4		$	33,275.5
LIABILITIES AND STOCKHOLDERS’ EQUITY
Truck, Parts and Other:
Accounts payable, deferred revenues and other			$	7,514.2		$	7,185.6
Financial Services Liabilities				13,430.2			12,922.8
STOCKHOLDERS’ EQUITY				13,882.0			13,167.1
			$	34,826.4		$	33,275.5
Common Shares Outstanding				522.6			522.0

PACCAR Inc
CONDENSED CASH FLOW STATEMENTS
(in millions)
Three Months Ended March 31		2023				2022
OPERATING ACTIVITIES:
Net income		$	733.9			$	600.5
Depreciation and amortization:
Property, plant and equipment			103.0				74.0
Equipment on operating leases and other			118.1				111.7
Net change in trade receivables, inventory and payables			(187.2	)			(61.6	)
Net increase in wholesale receivables on new trucks			(451.2	)			(327.4	)
All other operating activities, net			368.2				62.1
Net Cash Provided by Operating Activities			684.8				459.3
INVESTING ACTIVITIES:
Payments for property, plant and equipment			(138.7	)			(138.4	)
Acquisitions of equipment for operating leases			(153.1	)			(230.2	)
Net increase in financial services receivables			(178.9	)			(248.5	)
Net increase in marketable debt securities			(10.9	)			(3.8	)
Proceeds from asset disposals and other			188.9				214.8
Net Cash Used in Investing Activities			(292.7	)			(406.1	)
FINANCING ACTIVITIES:
Payments of cash dividends			(1,105.3	)			(639.4	)
Purchases of treasury stock			(3.0	)			(1.9	)
Proceeds from stock compensation transactions			20.5				16.7
Net increase in debt and other			397.0				468.2
Net Cash Used in Financing Activities			(690.8	)			(156.4	)
Effect of exchange rate changes on cash			17.9				(10.2	)
Net Decrease in Cash and Cash Equivalents			(280.8	)			(113.4	)
Cash and cash equivalents at beginning of period			4,690.9				3,428.3
Cash and cash equivalents at end of period		$	4,410.1			$	3,314.9

PACCAR Inc
SEGMENT AND OTHER INFORMATION
(in millions)
		Three Months Ended
		March 31
		2023					2022
Sales and Revenues:
Truck		$	6,413.8				$	4,697.1
Parts			1,623.0					1,388.9
Financial Services			423.2					366.2
Other			13.3					20.4
		$	8,473.3				$	6,472.6
Pretax Profit:
Truck		$	894.3				$	276.7
Parts			438.6					340.2
Financial Services			148.8					147.0
Investment Income and Other			(562.7	)	(1)			7.5
		$	919.0				$	771.4
GEOGRAPHIC REVENUE
(in millions)
		Three Months Ended
		March 31
			2023					2022
United States and Canada		$	5,040.1				$	3,761.4
Europe			2,275.5					1,873.3
Other			1,157.7					837.9
		$	8,473.3				$	6,472.6
NEW TRUCK DELIVERIES
		Three Months Ended
		March 31
			2023					2022
United States and Canada			26,000					20,700
Europe			17,400					16,100
Other			7,700					6,200
			51,100					43,000

(1) Includes a $600.0 million non-recurring charge related to civil litigation in Europe (EC-related claims).

PACCAR Inc
SUPPLEMENTARY INFORMATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
This earnings release includes “adjusted net income (non-GAAP)” and “adjusted net income per diluted share (non-GAAP)”, which are financial measures that are not in accordance with U.S. generally accepted accounting principles (“GAAP”), since they exclude a charge for EC-related claims. These measures differ from the most directly comparable measures calculated in accordance with GAAP and may not be comparable to similarly titled non-GAAP financial measures used by other companies.
Adjustment for the EC-related claims relates to a pre-tax charge of $600.0 million ($446.4 million after-tax) for estimable total costs recorded in Interest and other expenses (income), net in the first quarter 2023.
Management utilizes these non-GAAP measures to evaluate the Company’s performance and believes these measures allow investors and management to evaluate operating trends by excluding a significant non-recurring charge that is not representative of underlying operating trends.
Reconciliations from the most directly comparable GAAP measures to adjusted net income (non-GAAP) and adjusted net income per diluted share (non-GAAP) are as follows:
	Three Months Ended
($ in millions, except per share amounts)	March 31, 2023
Net income	$	733.9
EC-related claims, net of taxes		446.4
Adjusted net income (non-GAAP)	$	1,180.3
Per diluted share:
Net income	$	1.40
EC-related claims, net of taxes		.85
Adjusted net income (non-GAAP)	$	2.25

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005257/en/

Ken Hastings

(425) 468-7530

[email protected]

KEYWORDS: Washington United States North America

INDUSTRY KEYWORDS: Trucking EV/Electric Vehicles Aftermarket Automotive Vehicle Technology Transport Automotive Manufacturing Manufacturing Fleet Management

MEDIA:

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Peterbilt 579, Kenworth T680 and DAF XG+ Trucks (Photo: Business Wire)

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PACCAR Parts Distribution Center in Louisville, Kentucky (Photo: Business Wire)

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DAF Electric Truck Factory, Eindhoven, Netherlands (Photo: Business Wire)

Ooma AirDial, the Innovative POTS Replacement Solution, Adds Powerful Management Features Including API Integration

SUNNYVALE, Calif.–(BUSINESS WIRE)–Ooma, Inc., a smart communications platform for businesses and consumers, today announced a wide-ranging set of powerful new management features, including API integration, for Ooma AirDial, its innovative POTS replacement solution.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230425005342/en/

Legacy copper-wire phone lines, also known as plain old telephone service or POTS, are reaching end of life as many carriers hike monthly rates and allow quality of service to slip. This creates significant challenges for safety equipment and business-critical systems that require a POTS line – ranging from fire alarm panels to elevator phones, fax machines, public safety phones, building access systems and more – that often can’t be migrated to voice over internet, or VoIP, service.

Ooma AirDial (https://www.ooma.com/airdial) provides turnkey replacement for POTS lines by combining the AirDial base station with virtual analog phone service from Ooma, a data and voice connection through a nationwide wireless network, and cloud-based management with Ooma Remote Device Management (RDM), an online portal for monitoring and managing AirDial units in one place, from anywhere.

New management features added to AirDial include:

• API integration – Network managers can streamline workflows by passing AirDial status information and notifications into any monitoring tool that supports REST-based APIs. These integrations increase efficiency by combining AirDial monitoring with existing workflows in Network Operating Centers (NOCs).

• Roles-based access – There are now four levels of RDM access: owner, administrator, user and editor. Only owners and administrators, for example, can add and remove users, while editors can’t. This gives organizations flexibility in making RDM widely accessible without the risk of unintended changes.

• Call logs – RDM provides a log, updated in real time, of all outbound and inbound calls on each phone line connected to an AirDial device. This is useful for troubleshooting, confirming that equipment is operational and establishing the time for crucial events such as 911 calls.

• Hunt groups – AirDial units can be configured to roll over an inbound call to one or more lines if the first line is busy, doesn’t answer or is offline. This is critical for certain use cases, such as on-premise PBXs in retail locations that have a single inbound phone number to reach the store. AirDial also allows setting the outbound Caller ID to a single number for calls made from multiple lines.

• Temperature readings – RDM now displays the internal temperature for individual AirDial devices, showing if the device is in a location that has become too hot or too cold.

• Number porting – Existing phone numbers for equipment connected to AirDial devices can be ported to Ooma from an RDM screen. This removes the need to contact Ooma customer support, accelerating the timeline when porting multiple phone numbers.

• Search – Administrators can now search RDM for individual AirDial devices by individual phone numbers, equipment labels, LTE status and more. This makes it easy, when managing large numbers of AirDial devices, to quickly find a relevant device or group of devices.

“POTS replacement can be complicated, but we are committed to making the process easy and quick with Ooma AirDial. We have been working hard to introduce features that support seamless installation, number porting, testing, and monitoring to ensure critical equipment connected to legacy POTS lines remains reliable.” said Thad White, vice president of product management at Ooma. “AirDial is superior among POTS replacement solutions in the efficiency and flexibility unlocked by our continuing expansion of Remote Device Management capabilities.”

To learn more about Ooma AirDial and POTS replacement, please visit https://www.ooma.com/airdial.

About Ooma

Ooma (NYSE: OOMA) creates powerful connected experiences for businesses and consumers, delivered from its smart cloud-based SaaS platform. For businesses of all sizes, Ooma provides advanced voice and collaboration features including messaging, intelligent virtual attendants, and videoconferencing to help them run more efficiently. For consumers, Ooma’s residential phone service provides PureVoice HD voice quality, advanced functionality and integration with mobile devices. Learn more at www.ooma.com or www.ooma.ca in Canada.

Forward-Looking Statements

This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” The forward-looking statements contained in this press release include, without limitation, statements related to the functionality, features and certification of Ooma AirDial. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements, including whether Ooma AirDial will continue to meet the requirements of the applicable certifications or whether Ooma AirDial can obtain certifications under new relevant standards and/or regulations. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in Ooma’s filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2023, filed on April 7, 2023, and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date they are made. Ooma undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005342/en/

MEDIA CONTACT:

Mike Langberg at Ooma

[email protected]

650-566-6693

INVESTOR CONTACT:

Matt Robison at Ooma

[email protected]

650-300-1480

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Internet Audio/Video Data Management Technology Apps/Applications VoIP Mobile/Wireless

MEDIA:

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Ooma today announced a wide-ranging set of powerful new management features, including API integration, for Ooma AirDial, its innovative POTS replacement solution. With API integration, network managers can streamline workflows by passing AirDial status information and notifications into any monitoring tool that supports REST-based APIs. This increase efficiency by combining AirDial monitoring with existing workflows in Network Operating Centers (NOCs). (Graphic: Business Wire)

OFS Capital Corporation Announces Date for Its First Quarter 2023 Earnings Release and Conference Call

CHICAGO–(BUSINESS WIRE)–
OFS Capital Corporation (NASDAQ: OFS) (“OFS Capital”), a business development company, announced today that, prior to the opening of the stock market on Friday, May 5, 2023, it will report its first quarter 2023 earnings results.

A conference call is scheduled for later that day at 10:00 a.m. Eastern Time to discuss OFS Capital’s financial results and business. Bilal Rashid, Chairman & Chief Executive Officer, will host the call, along with Jeffrey Cerny, Chief Financial Officer & Treasurer.

Interested parties can listen to the call via the following:

INTERNET:		Go to www.ofscapital.com at least 15 minutes prior to the start time of the call to register, download and install any necessary audio software. A replay will be available for 90 days on our website at www.ofscapital.com.
PHONE:		1-844-763-8274 (Domestic) or 1-412-717-9224 (International)
REPLAY:		Available through May 15, 2023 at 9:00 a.m. Eastern Time. 1-877-344-7529 (Domestic) or 1-412-317-0088 (International) – conference ID # 6430152

ABOUT OFS CAPITAL

OFS Capital Corporation is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company. OFS Capital’s investment objective is to provide stockholders with both current income and capital appreciation primarily through debt investments and, to a lesser extent, equity investments. OFS Capital invests primarily in privately held middle-market companies in the United States, including lower-middle-market companies, targeting investments of $3 to $20 million in companies with annual EBITDA between $5 million and $50 million. OFS Capital offers flexible solutions through a variety of asset classes including senior secured loans, which includes first-lien, second-lien and unitranche loans, as well as subordinated loans and, to a lesser extent, warrants and other equity securities. OFS Capital’s investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940ⁱ and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.

ⁱ Registration does not imply a certain level of skill or training

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005069/en/

Steve Altebrando – Investor Relations

646.652.8473 or [email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Asset Management Professional Services Finance

MEDIA:

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Introducing Toast Tables: Integrated Reservation and Waitlist Management for Restaurants

New solution simplifies table management, personalizes hospitality, and enables restaurants to reach guests where they search

BOSTON–(BUSINESS WIRE)–
Toast (NYSE: TOST), the all-in-one technology platform built for restaurants, today announced the launch of Toast Tables, a reservation and waitlist management solution that integrates with the company’s robust restaurant technology platform. Toast Tables gives restaurants an affordable option to manage seating and turn first-time guests into regulars, including features like real-time table updates, automatically synced server rosters, and personalized guest profiles to power Toast Marketing and Loyalty integrations. The new suite is available to Toast customers for a flat monthly price, no fees per cover, and package options for different seating policies.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230425005054/en/

As part of the new solution, Toast also expands its collaboration with Google to tap into millions of guests searching for restaurants and enable them to book a reservation through Toast Tables, directly on a restaurant’s Google Business Profile. According to Toast’s Voice of the Restaurant Guest survey¹, when it comes to finding full service restaurants, guests use Google Maps more than any other restaurant discoverability channel except for personal recommendations. The extension of this collaboration helps restaurants to save money on costly third-party reservation platforms—which account for only three percent of guests’ restaurant discovery².

“Reservation and waitlist management capabilities have moved from ‘nice to have’ to ‘must have’ for many restaurants in recent years,” said Aman Narang, Chief Operating Officer and Co-Founder of Toast. “Toast Tables empowers restaurants to provide more personalized and efficient hospitality before, during, and between guest visits. We’re pleased to see our collaboration with Google come to life again in this launch and benefit the restaurant community.”

Toast Tables allows restaurants to:

• Benefit from a fully integrated reservation and waitlist solution: Toast Tables is easy to use and integrates with the broader Toast platform. Toast Tables syncs seamlessly with products like Toast Point of Sale (POS) and Kitchen Display Systems (KDS), so restaurants can spend less time updating systems and more time with their guests. Restaurants can get started in minutes with a host app on select Android and iOS devices that automatically imports their floor plan and server roster while eliminating the need to manage a separate reservation and waitlist provider.
• Manage capacity without the complexity: With real-time table status updated from the POS and KDS, the host can see what guests have ordered, when orders have been fulfilled, and when they have paid for their meals. Hosts can keep servers happy by seating based on built-in cover counts and “next up” server rotations. Restaurants can avoid no-shows thanks to estimated wait times, automated notifications, and two-way SMS messaging, which make it easy for guests to stay up-to-date and communicate if their plans change.
• Personalize hospitality to turn first-time guests into regulars: Guests can easily find restaurants they love and reserve a table or join an online waitlist directly from Google Search and Maps. With personalized guest profiles, restaurants can anticipate preferences, recognize special occasions, reward regulars or VIPs, and grow their marketing list. Guests can view the menu to prepare for their visit and even opt into the restaurant’s loyalty program, so that owners and operators can prompt repeat visits by re-engaging guests with meaningful conversation and offers.

“Toast Tables has become one of my favorite parts about Toast,” said Franco DiCarlo, owner of PA House. “Turn times, check sizes, popular items, server efficiency – I can see it all right from my iPad. With online reservations through our website as well as through Reserve with Google, our guest list stays full, and with auto-confirmation texts, we’re able to keep it that way.”

Learn more about Toast Tables.

ABOUT TOAST

Toast [NYSE: TOST] is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. Toast provides a single platform of software as a service (SaaS) products and financial technology solutions that give restaurants everything they need to run their business across point of sale, operations, digital ordering and delivery, marketing and loyalty, and team management. By serving as the restaurant operating system across dine-in, takeout, and delivery channels, Toast helps restaurants streamline operations, increase revenue, and deliver amazing guest experiences. For more information, visit www.toasttab.com.

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when Toast or its management is discussing its beliefs, estimates or expectations. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “may,” “could,” “should,” “will,” “expects,” “estimates,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. These statements are not historical facts or guarantees of future performance, but represent the beliefs of Toast and its management at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside Toast’s control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements include, without limitation, statements regarding the expected results of the launch of Toast Tables and the benefits of Toast’s expanded collaboration with Google on Toast’s business and operations.

The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Toast’s filings with the Securities and Exchange Commission (“SEC”), including in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Toast’s Annual Report on Form 10-K for the year ended December 31, 2022 and Toast’s subsequent SEC filings. Toast can give no assurance that the plans, intentions, expectations or strategies as reflected in or suggested by those forward-looking statements will be attained or achieved. The forward-looking statements in this release are based on information available to Toast as of the date hereof, and Toast disclaims any obligation to update any forward-looking statements, except as required by law. These forward-looking statements should not be relied upon as representing Toast’s views as of any date subsequent to the date of this press release.

TOST-CORP

¹ Data from Voice of the Restaurant Guest, served by Toast. Toast conducted a blind survey of 969 US consumers from January 13, 2023 – January 23, 2023. Respondents were not made aware that Toast was fielding the study. Incentives for participation were granted to respondents from the panels that conducted the survey. The margin of error is +/-3 percent.

² Data from Voice of the Restaurant Guest, served by Toast. Toast conducted a blind survey of 969 US consumers from January 13, 2023 – January 23, 2023. Respondents were not made aware that Toast was fielding the study. Incentives for participation were granted to respondents from the panels that conducted the survey. The margin of error is +/-3 percent.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005054/en/

Media: [email protected]

Investors: [email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Software Technology Retail Restaurant/Bar

MEDIA:

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HPE Aruba Networking simplifies IT operations with AIOps-driven cloud management and new network-as-a-service capabilities available on HPE GreenLake

Next generation of HPE Aruba Networking Central paves the way for the era of AI-powered network management; ‘Agile NaaS’ strategy simplifies delivery of critical network services via HPE GreenLake

LAS VEGAS–(BUSINESS WIRE)–Hewlett Packard Enterprise (NYSE: HPE) today introduced product innovations to help enterprise IT teams simplify network management processes and improve operational agility with the next generation of HPE Aruba Networking Central, a cloud-native network management solution. HPE Aruba Networking also announced Network-as-a-service (NaaS) capabilities for customers and channel partners to acquire, deploy, and manage on the HPE GreenLake platform with a monthly subscription.

As IT teams remain understaffed and overtaxed, many enterprises lack the personnel required to manage multiple networking products and capabilities from multiple vendors. To alleviate time spent on network troubleshooting and optimization, the HPE Aruba Networking Central cloud network management platform has been re-designed to simplify operations and improve productivity by leveraging artificial intelligence for IT operations (AIOps) to reduce manual tasks, so stretched networking teams can focus on more strategic and higher-value projects.

HPE Aruba Networking is also introducing its Agile NaaS framework, designed to make on-demand networking easier for partners to sell and end-user customers to consume. New service pack capabilities added to HPE GreenLake for Aruba networking enable partners to bundle their design and delivery services for their customers with a monthly NaaS technology subscription.

“A modernized network is the backbone for powering next-generation digital experiences and enabling new business models,” said Phil Mottram, executive vice president and general manager, HPE Aruba Networking. “The evolution of our AIOps in HPE Aruba Networking Central and Agile NaaS represents the next step toward more effectively managing operational complexity, while connecting with ever-expanding workloads from edge to cloud for a seamless hybrid work experience.”

The next generation of HPE Aruba Networking Central enables a wide range of business outcomes across industries such as automated factory operations, personalized customized customer experiences, omnichannel retail operations for a seamless shopping experience whether in-store, mobile, or online, and a reduced carbon footprint. Its new design leapfrogs legacy network management tools with new features that include:

• Operator-centric design with a simplified user experience to enable more people across all skill levels, featuring entity-centric “solar system” views to promote intuitive navigation and reduce cognitive loads

• The industry’s first “time-travel” feature for a contextually correlated ‘point-in-time’ view of the network that allows recovery in minutes to a specific point

• Multi-layer physical and logical “sunburst” topology views to transform visualization of large, complex networks

• Intelligent assurance indicators for device health and client experience, enabling rapid first-level triage

• AI-powered full-stack insights for enhanced root cause analysis (RCA), impact assessment, and precise recommendations

• Device-agnostic Day 0 and Day 1 workflows with 100% API support to automate network configurations at scale

“To manage the modern network, tools need to sufficiently empower IT teams in a rapidly changing landscape, but unfortunately, too many network operations professionals feel their management tools aren’t reducing network problems to the degree they should,” said Maribel Lopez, founder and principal analyst, Lopez Research. “Companies need a new generation of management tools that are built for an AIOps environment, with unified workflows from Day 0 planning to Day 1 deployment and Day 2 troubleshooting and optimization, ultimately allowing the needs of the business to drive timelines for technology and the network – not the other way around.”

Agile NaaS is Aruba’s framework for helping customers successfully navigate and implement new consumption choices with network-as-a-service to deliver business outcomes faster:

• Tools to enable networking teams to partner with the business to develop a NaaS strategy that meets their individual requirements

• Support for a range of acquisition, deployment, and management models

• The ability to incrementally introduce Network-as-a-Service without an entire network refresh

• World class Zero Trust and SASE security, cloud performance and scale, and AI-powered automation so customers start with the best network foundation

New Service Pack enhancements on HPE GreenLake for Aruba networking include:

• A new Network Policy NaaS service pack, based on Aruba’s award winning ClearPass network access control solution. This adds a new standardized NaaS network policy offering to complement eight previously introduced wired, wireless, and SD-Branch NaaS service packs from 2022.

• HPE GreenLake for Aruba networking service packs are available for order by channel partners across 15 countries including Australia, Canada, Finland, France, Germany, Italy, Japan, Korea, Netherlands, New Zealand, Norway, Spain, Sweden, United Kingdom and United States. The new Network Policy service pack will be available for order starting in Q3 of HPE’s 2023 fiscal year.

“As organizations across the globe build a future connectivity strategy, they’re increasingly focusing on modern enterprise networks that are agile, responsive to business needs and simple to operate – while being powerful drivers of transformation,” said Brandon Butler, IDC Research Manager, Enterprise Networks. “HPE Aruba Networking has recognized that each organization has unique needs and is at the forefront of reinventing how customers and partners can consume or deliver more business-outcome focused networking. With the enhancements announced today, HPE Aruba Networking continues to advance its mature portfolio in the areas of AI, security, automation and Network as a Service.”

“With network operations under pressure from a combination of the IT skills shortage, data complexity and fragmented network operations requirements, many enterprise customers are looking to automate more of their network management operations – and at the same time use AIOps to streamline delivery of network as a service,” said Joel Grace, senior vice president of client services, Sayers. “HPE GreenLake for Aruba networking service packs are exactly what our customers need to build and run an edge-to-cloud infrastructure in one place and pay for it all as a service.”

Integration of Axis Security and Athonet

HPE recently announced two acquisitions to expand the HPE Aruba Networking portfolio: Athonet for Private 5G connectivity and Axis Security for comprehensive SASE security solutions. The Axis Security acquisition closed in March, and its edge-to-cloud security solutions are now integrated with HPE Aruba Networking’s technology and will be on display at the innovation zone at Atmosphere. The Athonet transaction is expected to close during the fourth quarter of HPE’s 2023 fiscal year, and HPE will integrate the solutions with the HPE Aruba Networking portfolio and existing telco software following the close of the transaction.

Read more about each of the product innovations announced today, as well as an overview from HPE Aruba Networking’s executive vice president and general manager Phil Mottram on today’s announcement:

• “Welcome to Next” announcement overview blog by Phil Mottram, executive vice president and general manager, HPE Aruba Networking

• Blog for overview of HPE Aruba Networking Central announcement: “Introducing the next generation of HPE Aruba Networking Central”
• Blog for overview of HPE GreenLake for Aruba networking announcement: “The Future is Flexible. The Future is Agile NaaS.”

Both new innovations will be announced onstage during Atmosphere, the organization’s flagship event, taking place April 23-28 at the Venetian Resort in Las Vegas. Register here to watch the keynotes live online and learn how HPE Aruba Networking provides the necessary network infrastructure, security, and automation to ensure networks deliver the right business outcomes.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise (NYSE: HPE) is the global edge-to-cloud company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way people live and work, HPE delivers unique, open, and intelligent technology solutions as a service. With offerings spanning Cloud Services, Compute, High Performance Computing & AI, Intelligent Edge, Software, and Storage, HPE provides a consistent experience across all clouds and edges, helping customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005031/en/

Ben Stricker

[email protected]

KEYWORDS: Nevada United States North America

INDUSTRY KEYWORDS: Networks Internet Hardware Technology Software

MEDIA:

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Sasol Chemicals partners with Mission Possible Partnership to develop the company’s Lake Charles sustainability hub

Collaboration will accelerate evaluation of potential decarbonisation projects

HOUSTON–(BUSINESS WIRE)–
Sasol Chemicals, a business unit of Sasol Ltd. (JSE: SOL; NYSE: SSL), and Mission Possible Partnership (MPP) announced a collaboration to evaluate potential projects for Sasol’s sustainability hub at its Lake Charles, La. location.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230425005022/en/

MPP will advise Sasol on potential projects related to the use of hydrogen as an energy source; carbon capture, use and storage; and sustainable aviation fuel production, with the goal of advancing one or more projects to final investment decision. Sasol will provide subject matter experts to collaborate with MPP to determine the best paths forward.

“We look forward to drawing on the experience and expertise of MPP’s work with public, private and governmental organizations to advance decarbonisation projects,” said Tim Rogers, Sustainability Hub Program Director for Sasol Chemicals. “Positioning our Lake Charles site as a sustainability hub is a key transformation imperative to advance our Future Sasol ambitions. With development-ready land, advantaged feedstock access, prime transport infrastructure and our reputation as a reliable partner, the site is uniquely positioned to lead the way to a more sustainable chemicals industry.”

“Decarbonising the chemicals sector is crucial to reaching U.S. climate targets,” said Bryan Fisher, Director of Hubs at the Mission Possible Partnership. “We look forward to helping Sasol realise its decarbonisation ambitions at its Lake Charles facility and the community benefits offered by clean energy development, such as job creation and cleaner production processes.”

MPP has secured funding from the Bezos Earth Fund to support up to 10 industrial decarbonization projects in the U.S. Gulf Coast region and identified Sasol’s Lake Charles facility as a location. Sasol’s team will benefit from MPP’s decades of experience helping organizations navigate operations optimization, robust decision analysis and supporting of technoeconomic analysis for sustainable energy investments.

MPP was co-founded by and comprises four core partners: RMI (Rocky Mountain Institute), the Energy Transition Commission, We Mean Business Coalition and the World Economic Forum. The ambitious mission of MPP is to trigger a net-zero transformation of seven key industrial sectors, leveraging the convening power, talent, and expertise of world-leading organizations on climate action. More than 400 of the leading global industry companies are involved in MPP’s coalition.

About Sasol Chemicals

Sasol Chemicals partners with our customers, suppliers, employees and communities to create innovative solutions for a better world. Our unique chemistry provides the building blocks for a sustainable future and is used by more than 6,500 customers in 118 countries in countless products that improve the quality of life for people around the world.

Sasol Chemicals is a business of Sasol Limited. For more information, visit the Sasol Chemicals website.

About Mission Possible Partnership

The Mission Possible Partnership (MPP) is an alliance of leading companies and climate action organisations working to decarbonise seven hard-to-abate industrial and mobility sectors: aluminum, aviation, cement and concrete, chemicals, shipping, steel and trucking. MPP’s 2030 Milestones are real-economy targets for action in this decade to achieve net zero emissions by 2050, developed from sector transition strategies endorsed by more than 200 companies. MPP was founded to foster radical collaboration between stakeholders in industry, finance, policy and markets by four partners: Energy Transitions Commission, RMI, We Mean Business Coalition and the World Economic Forum.

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Scott Henry

BCW Global on behalf of Sasol Chemicals

[email protected]

+1 (412) 523-3010

Melia Manter

MPP

[email protected]

KEYWORDS: Texas Louisiana United States North America

INDUSTRY KEYWORDS: Chemicals/Plastics Environment Manufacturing Sustainability Alternative Energy Energy

MEDIA:

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UroGen Pharma to Present at H.C. Wainwright BioConnect Conference

– Fireside Chat May 2, 2023 from 10:00 – 10:30 AM ET –

PRINCETON, N.J.–(BUSINESS WIRE)–
UroGen Pharma Ltd. (Nasdaq: URGN), a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers, today announced that it will participate in a fireside chat at the upcoming H.C. Wainwright BioConnect Conference on May 2, 2023 at 10:00 AM ET.

A live audio webcast will be available in the “Events and Presentations” section of UroGen’s investor website. A replay will be available for approximately 30 days.

About UroGen Pharma Ltd.

UroGen is a biotech company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers because patients deserve better options. UroGen has developed RTGel® reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based platform technology that has the potential to improve therapeutic profiles of existing drugs. UroGen’s sustained release technology is designed to enable longer exposure of the urinary tract tissue to medications, making local therapy a potentially more effective treatment option. Jelmyto® (mitomycin) for pyelocaliceal solution and investigational treatment UGN-102 (mitomycin) for intravesical solution are designed to ablate tumors by non-surgical means. UroGen is headquartered in Princeton, NJ with operations in Israel. Visit www.urogen.com to learn more or follow us on Twitter, @UroGenPharma.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005188/en/

INVESTOR CONTACT:

Vincent Perrone

Senior Director, Investor Relations

[email protected]

609-460-3588

MEDIA CONTACT:

Cindy Romano

UroGen Corporate Communications

[email protected]

908-963-7827

KEYWORDS: New Jersey United States North America

INDUSTRY KEYWORDS: Research FDA Clinical Trials Biotechnology General Health Pharmaceutical Health Science Oncology Other Science

MEDIA:

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bioAffinity Technologies Presents at Cleveland Clinic Lung Cancer Symposium

SAN ANTONIO–(BUSINESS WIRE)–bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on the need for noninvasive, accurate tests for the detection of early-stage cancer, will present at the Cleveland Clinic’s invitation-only Advances in Early Lung Cancer Detection annual symposium in Cleveland, Ohio, on April 27, 2023.

The presentation by Vivienne I. Rebel, MD, PhD, bioAffinity Technologies Executive Vice President and Chief Science and Medical Officer, will focus on advancements in CyPath^® Lung, the Company’s noninvasive test for detection of early-stage lung cancer. CyPath^® Lung uses flow cytometry and artificial intelligence to analyze the lung microenvironment to identify cell populations that accurately predict cancer in patients at high risk for lung cancer.

The fourth annual Advances in Early Lung Cancer Detection symposium brings together global leaders in the field of lung cancer, including physicians, advocates and industry, to accelerate the development and implementation of new technologies and methods to find lung cancer at the earliest stages when it is most treatable. This is bioAffinity Technologies’ fourth invitation to present before symposium attendees.

About bioAffinity Technologies, Inc.

bioAffinity Technologies, Inc. addresses the need for noninvasive diagnosis of early-stage cancer and diseases of the lung and targeted cancer treatment. The Company’s first product, CyPath^® Lung, is a noninvasive test that has shown high sensitivity and specificity for the detection of early-stage lung cancer. CyPath® Lung is marketed as a Laboratory Developed Test (LDT) by Precision Pathology Services. OncoSelect^® Therapeutics, LLC, a subsidiary of bioAffinity Technologies, is advancing its discoveries shown in vitro to kill cancer cells without harm to normal cells. Research and optimization of the Company’s platform technologies are conducted in its laboratories at The University of Texas at San Antonio. For more information, visit www.bioaffinitytech.com and follow us on LinkedIn and Twitter.

About the Cleveland Clinic

The Cleveland Clinic is a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education. Founded in 1921 to provide outstanding patient care based upon cooperation, compassion and innovation, the Cleveland Clinic has pioneered many medical breakthroughs and is consistently named one of the nation’s best hospitals.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the anticipated use of proceeds from the Company’s offering of common shares. Forward-looking statements can be identified by words such as “believes,” “expects,” “estimates,” “intends,” “may,” “plans,” “will” and similar expressions, or the negative of these words. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. Readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005119/en/

bioAffinity Technologies

Julie Anne Overton

Director of Communications

[email protected]

LHA Investor Relations

Tirth T. Patel

[email protected]

KEYWORDS: Texas Ohio United States North America

INDUSTRY KEYWORDS: Biotechnology Medical Devices Health Medical Supplies Oncology

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OmniAb to Participate in Upcoming Investor Conferences in May

EMERYVILLE, Calif.–(BUSINESS WIRE)–OmniAb, Inc. (NASDAQ: OABI) today announced that management will be participating in five upcoming investor conferences in May.

• H.C. Wainwright BioConnect Investor Conference at NASDAQ, May 2, 2023 at Nasdaq World Headquarters, New York City. Management will be participating in a fireside chat on Tuesday, May 2^nd at 9:30 a.m. Eastern time and will be hosting one-on-one meetings with investors.

• Inaugural E.F. Hutton Global Conference,May 10-11, 2023 at The Plaza Hotel, New York City. Management will be hosting one-on-one meetings with investors on May 11.

• Benchmark 3^rd Annual Virtual Healthcare House Call 1×1 Investor Conference, May 23, 2023. Management will be hosting virtual one-on-one meetings with investors.

• B. Riley Securities 23^rd Annual Institutional Investor Conference,May 24-25, 2023 at The Beverly Hilton, Beverly Hills. Management will be hosting one-on-one meetings with investors on May 24.

• Craig-Hallum 20^th Annual Institutional Investor Conference,May 31, 2023 at The Depot Renaissance Minneapolis Hotel, Minneapolis. Management will be hosting one-on-one meetings with investors.

About OmniAb^®

OmniAb’s discovery platform provides pharmaceutical industry partners access to diverse antibody repertoires and high-throughput screening technologies to enable discovery of next-generation therapeutics. At the heart of the OmniAb platform is the Biological Intelligence™ (BI) of our proprietary transgenic animals, including OmniRat^®, OmniChicken^® and OmniMouse^® that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates. OmniFlic^® (transgenic rat) and OmniClic^® (transgenic chicken) address industry needs for bispecific antibody applications though a common light chain approach, and OmniTaur™ features unique structural attributes of cow antibodies for complex targets. We believe the OmniAb animals comprise the most diverse host systems available in the industry and they are optimally leveraged through computational antigen design and immunization methods, paired with high-throughput single B cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms to identify fully human antibodies with superior performance and developability characteristics. An established core competency focused on ion channels and transporters further differentiates our technology and creates opportunities in emerging target classes. OmniAb antibodies have been leveraged across modalities, including bispecific antibodies, antibody-drug conjugates and others. The OmniAb suite of technologies span from BI-powered repertoire generation to cutting edge antibody discovery and optimization offering a highly efficient and customizable end-to-end solution for the growing discovery needs of the global pharmaceutical industry.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005012/en/

OmniAb, Inc.

Neha Singh

[email protected]

Twitter @OmniAbTech

(510) 768-7760

LHA Investor Relations

Yvonne Briggs

[email protected]

(310) 691-7100

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Science Other Science Biotechnology Research Pharmaceutical Health Genetics Clinical Trials

MEDIA:

Posted on April 25, 2023 8:02 am

Science 37 Appoints SVP, Erica Prowisor, to Bolster Patient Recruitment Velocity, Diversity

New role supports the Company’s objective to lead the industry with faster, more inclusive clinical research

RESEARCH TRIANGLE PARK, N.C., April 25, 2023 (GLOBE NEWSWIRE) — Science 37 Holdings, Inc. (Nasdaq: SNCE), the industry-leading Metasite™, announced today Erica Prowisor as SVP of Patient and Provider Networks to accelerate patient recruitment, ensure participant diversity and gain operational efficiencies.

Erica has been forging new ground as a leader in patient recruitment for nearly 20 years, most notably with IQVIA where she was Global Head of Recruitment and Retention for more than three years and led the company’s direct-to-patient recruitment and retention efforts. Prior to IQVIA, Erica spent 11 years with Acurian through the acquisition by PPD where she was Head of Enrollment Operations, and in charge of global operations for the company’s Accelerated Enrollment Solutions business.

“As a Metasite, we access patients that can’t be accessed by traditional brick and mortar sites, and we have proven to enroll patients significantly faster on almost every single trial,” said Darcy Forman, Chief Delivery Officer at Science 37. “With Erica’s prolific experience in patient recruitment, we are excited to further accelerate our recruitment velocity and extend our leadership position, while also gaining efficiencies that can lower our cost per acquisition.”

“The Science 37 Metasite™ offers a unique opportunity to transform clinical trials by providing expansive access,” said Erica Prowisor. “I look forward to being able to help drive better patient outcomes by finding the most representative patient populations, regardless of location.”

Science 37 boasts myriad channels for recruiting patients including its own network of more than 600 thousand patients, approximately 35 thousand community providers that reach approximately 35 million patient lives, in addition to partnerships with third-party patient communities, pharmacies, labs, associations, and digital media outlets. The company uses an omnichannel approach to find patients, and a high-efficiency enrollment process that includes an online screening process, a technology-enabled contact center, and eConsent to ensure that no patient is left behind.

About Science 37

Science 37 Holdings, Inc.’s (Nasdaq: SNCE) mission is to accelerate clinical research by enabling universal trial access for patients. Through our Metasite™ we reach an expanded population beyond the traditional site, delivering on our goal of clinical research that works for everyone—with greater patient diversity. Patients gain the flexibility to participate from the comfort of their own homes, at their local community provider, or at a traditional site when needed. Our Metasite is powered by a proprietary technology platform with in-house medical and operational experts that drive uniform study orchestration, enabling greater compliance and high-quality data. To learn more, visit www.science37.com, or email [email protected].

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products offered by Science 37 and the markets in which it operates, and Science 37’s anticipated growth and profitability. These forward-looking statements generally are identified by the words “believe,” “can,” “could”, “seek”, “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “might”, “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions. 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 factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the ability to maintain the listing of Science 37’s securities on The Nasdaq Stock Market LLC, (ii) volatility in the price of Science 37’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Science 37 operates, variations in performance across competitors, changes in laws and regulations affecting Science 37’s business, changes in its capital structure, and general economic and financial market conditions, including fluctuations in currency exchange rates, economic instability, and inflationary conditions (iii) the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional opportunities, (iv) the risk that Science 37 may never achieve or sustain profitability, (v) the risk that Science 37 will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (vi) failure to realize anticipated cost savings, and (vii) risks related to general economic and financial market conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Science 37’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 6, 2023, and in the other documents filed by Science 37 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 Science 37 assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Science 37 does not give any assurance that Science 37 will achieve its expectations.

MEDIA INQUIRIES:

Grazia Mohren
Science 37
[email protected]

INVESTOR RELATIONS:

Steve Halper
LifeSci Advisors
[email protected]