Market Newsdesk

BURLINGTON, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) — Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, announced today that Jeff Rosica, Chief Executive Officer and President, and Ken Gayron, Chief Financial Officer and Executive Vice President, will host a conference call on Wednesday, August 9, 2023, at 5:30 p.m. ET to discuss the company’s earnings for the second quarter of 2023, ended June 30, 2023, which will be published after the market closes that day. Investors are invited to register for the Zoom video webinar by visiting https://ir.avid.com/events-and-presentations. A replay will be available for a limited time by visiting the Events & Presentations page on Avid’s investor relations website.

Avid Powers Greater Creators

People who create media for a living become greater creators with Avid’s award-winning technology solutions to make, manage and monetize today’s most celebrated video and audio content—from iconic movies and binge-worthy TV series, to network news and sports, to recorded music and the live stage. What began more than 30 years ago with our invention of nonlinear digital video editing has led to individual artists, creative teams and organizations everywhere subscribing to our powerful tools and collaborating securely in the cloud. We continue to re-imagine the many ways editors, musicians, producers, journalists and other content creators will bring their stories to life. Discover the possibilities at avid.com and join the conversation on social media with the multitude of brilliant creative people who choose Avid for a lifetime of success.

© 2023 Avid Technology, Inc., Avid and its logo are property of Avid. All rights reserved. Other trademarks are property of their respective owners.

Investor Contact:
Whit Rappole
Avid
[email protected]

PR Contact:
Jim Sheehan
Avid
[email protected]

MANITOWOC, Wis., Aug. 03, 2023 (GLOBE NEWSWIRE) — Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting and controls, maintenance services and electric vehicle (EV) charging station solutions, announced the signing of a significant 3-year LED lighting preventative maintenance contract with an existing major retail customer. This partnership involves the maintenance of LED lighting systems at approximately 2,000 locations nationwide, formalizing an existing maintenance service relationship.

The selection of Orion as the maintenance provider was driven by its national maintenance footprint and its proven ability to effectively organize, manage, and communicate large-scale projects involving multiple vendors across all 50 states. This capability will greatly reduce the customer’s internal overhead dedicated to maintaining their lighting systems.

As a dependable partner, Orion is committed to promptly responding to maintenance requests, ensuring minimal disruptions to store operations. Orion’s proactive maintenance program will help the customer avoid interruptions and provide a seamless lighting experience for their retail customers.

“We are thrilled to be entrusted with this significant lighting maintenance contract for this highly respected retail customer,” said Mike Jenkins, CEO at Orion. “With our expertise and nationwide coverage, we are confident in our ability to deliver exceptional service and ensure the optimal performance of the LED lighting systems at our customer’s retail locations across the country.”

Orion’s comprehensive approach to lighting maintenance, coupled with its highly skilled technicians and state-of-the-art equipment, will guarantee the highest level of service quality and reliability. By leveraging its industry-leading expertise and customer service commitment, Orion aims to exceed customer expectations and establish long-term partnerships built on trust and exceptional results.

About Orion Energy Systems

Orion provides energy efficiency and clean tech solutions, including LED lighting and controls, maintenance services and electrical vehicle (EV) charging solutions. Orion specializes in turnkey design-through-installation solutions for large national customers, with a commitment to helping customers achieve their business and environmental goals with healthy, safe, and sustainable solutions that reduce their carbon footprint and enhance business performance.

Orion is committed to operating responsibly throughout all areas of our organization. Learn more about our ESG priorities, goals and progress here or visit our website at www.orionlighting.com.

Safe Harbor Statement

Certain matters discussed in this press release, are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements will include words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or words of similar import. Similarly, statements that describe our future plans, objectives or goals, including business relationships with government customers, are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected including, but not limited to, the risks described in our filings with the Securities and Exchange Commission.

Shareholders, potential investors and other readers are urged to consider risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov or at http://investor.oriones.com/ in the Investor Relations section of our Website. Except as required by applicable law, we assume no obligation to update any forward-looking statements publicly or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

Engage with Us

Twitter: @OrionLighting and @OrionLightingIR
StockTwits: @Orion_LED_IR

Marketing Contact

Steve Paulus, Director, Marketing and Communications
Orion Energy Systems, Inc.
[email protected]
(920) 239-8007

Investor Relations Contacts

Per Brodin, CFO	William Jones; David Collins
Orion Energy Systems, Inc.	Catalyst IR
[email protected]	(212) 924-9800 or [email protected]

SOUTH SAN FRANCISCO, Calif., Aug. 03, 2023 (GLOBE NEWSWIRE) — Nkarta, Inc. (Nasdaq: NKTX), a biopharmaceutical company developing engineered natural killer (NK) cell therapies, today announced its participation at an upcoming investor conference:

Canaccord Genuity 43

^rd

Annual Growth Conference

August 10, 2023
12:00 p.m. ET – fireside chat

A simultaneous webcast of each event will be available on the Investors section of Nkarta’s website, www.nkartatx.com, and a replay will be archived on the website for approximately 90 days.

About Nkarta

Nkarta is a clinical-stage biotechnology company advancing the development of allogeneic, off-the-shelf natural killer (NK) cell therapies. By combining its cell expansion and cryopreservation platform with proprietary cell engineering technologies and CRISPR-based genome engineering capabilities, Nkarta is building a pipeline of future cell therapies engineered for deep anti-tumor activity and intended for broad access in the outpatient treatment setting. For more information, please visit the company’s website at www.nkartatx.com.  

Nkarta Media/Investor Contact:

Greg Mann
Nkarta, Inc.
[email protected]

PHILADELPHIA, Aug. 03, 2023 (GLOBE NEWSWIRE) — Kaskela Law LLC announces that it is investigating the recently announced proposed stockholder buyout of Sculptor Capital Management, Inc. (NYSE: SCU) (“Sculptor”) on behalf of the company’s shareholders.

On July 24, 2023, Sculptor announced that it would be acquired by Rithm Capital Corp. at a price of $11.15 per share in cash. Following the closing of the proposed transaction, Sculptor shareholders will be cashed out of their investment position.

The as agreed-to $11.15 per share buyout price appears to undervalue Sculptor’s shares. For example, at the time the proposed buyout was negotiated and announced, several stock analysts were maintaining price targets on SCU’s shares well above the $11.15 per share buyout price, including Credit Suisse who had assigned a $13.00 per share price target to the shares.

In light of the above, Kaskela Law is investigating whether Sculptor’s shareholders will be receiving sufficient cash consideration for their SCU shares in the proposed buyout, and whether Sculptor’s officers and/or directors breached their fiduciary duties or violated the securities laws in agreeing to sell the company to Rithm Capital Corp. at $11.15 per share.

Sculptor


shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (888)


715 – 1740, or by email (




[email protected]




/




[email protected]




) or online at




https://kaskelalaw.com/cases/sculptor-capital-management/




, for additional information about this investigation and their legal rights and options with respect to this matter.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:

KASKELA LAW LLC

D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

DALLAS, Aug. 03, 2023 (GLOBE NEWSWIRE) — Asset Entities Inc. (NASDAQ: ASST) (the “Company” or “Asset Entities”), a provider of digital marketing and content delivery services across Discord and other social media platforms, announces that Matchbox Twenty has chosen Asset Entities to Design, Develop, and Manage its server on the Discord social community platform. Matchbox Twenty, the Multi-Platinum Band, whose career has generated sales of over 40 million records worldwide, attracts a massive following across all age groups from 7 to 70.

“Matchbox Twenty has decided to join the future of fan engagement via Discord to create its digital fan community, and the band chose to do it with Asset Entities. As we continue to grow our audience, we want to partner with the best in the game and when it comes to a new platform like Discord, Asset Entities is just that,” said Nick Lippman, Manager of Matchbox Twenty.

To join Matchbox Twenty’s new Discord where you can interact with Eddie the AI Rock Bot, go to https://Discord.gg/matchboxtwenty.

Jeff Blue, Asset Entities Head of Entertainment, who has a professional relationship with Lippman and the band which spans multiple decades, said, “When I met the guys in 1996, they were called Tabitha’s Secret. I felt their authenticity and incredible song writing would be legendary. Working with Matchbox Twenty is a fantastic opportunity for both Asset Entities and Matchbox Twenty, as Asset Entities further expands its objective of connecting and influencing today’s younger generations.” Blue went on to say, “Matchbox Twenty has built its legacy making a significant impact on the world with amazing hits like “Push” and “3AM.” It is impossible not to hum along (or even sing aloud) to generational anthems that also include smashes such as “Unwell,” “Bent,” “If You’re Gone,” and “How Far we’ve Come.” Matchbox Twenty is one of the first major recording artists we are bringing to Discord as part of our Asset Entertainment initiative, and we are extremely excited about this new chapter of our relationship with Nick and Matchbox Twenty.”

Matchbox Twenty has quietly woven their songs into the very fabric of American popular culture. The band has sold over 40 million records worldwide, dominated charts, garnered multiple GRAMMY Award nominations, and played to millions of fans in arenas, amphitheaters, and stadiums across continents.

Earning hits in each of the last three decades, Matchbox Twenty has gone from perennially dominating radio airwaves and ruling MTV to piling up streams in the billions, speaking to the enduring appeal of their music. Fueled by such classic songs as “Real World,” “Back 2 Good” and the No. 1 smash hits “Push” and “3AM,” 1996’s Diamond-certified Yourself or Someone Like You proved a worldwide sensation and instantly established the band as global superstars. 2000 saw the band release the four-times Platinum Mad Season, containing the No. 1 singles “Bent” and “If You’re Gone.” Their third release, More Than You Think You Are, also was certified double-Platinum and featured the No. 1 hit, “Unwell.” 2007’s greatest hits compilation album with six new songs, “Exile On Mainstream” yielded yet another No. 1 track, “How Far We’ve Come,” while 2012’s North, exploded into the top position on the Billboard 200 release – Matchbox Twenty’s first-ever chart-topper and No. 1 debut.

Now nearly eleven years later, the band sounds refreshed as ever on Where The Light Goes, benefiting from the musicians’ respective solo journeys. Rob Thomas has proven one of the most highly decorated artists of recent years – releasing five solo albums and receiving three GRAMMY Awards, 11 BMI Awards, the first-ever Songwriters Hall of Fame Hal David Starlight Award, two Billboard “Songwriter of the Year” honors, and top 5 placement on Billboard’s Top 20 Hot 100 Songwriters (2000-2011). Meanwhile, Paul Doucette has scored and contributed original music to film and television series such as Utopia, For All Mankind, and more.

Matchbox Twenty’s song “Push,” provides for a familiar and entertaining experience for fans. For the music video for the song, “Push”, visit: https://www.youtube.com/watch?app=desktop&v=HAkHqYlqops)
To learn about the AE.360.DDM suite of services, go to ae360ddm.com or https://discord.gg/ae360ddm.

To learn about Matchbox Twenty, see upcoming tour dates, and purchase their merchandise, visit: https://matchboxtwenty.com/

About Asset Entities

Asset Entities Inc. is a technology company providing social media marketing, management and content delivery across Discord, TikTok, Instagram, Twitter, and YouTube and other social media platforms. Asset Entities is believed to be the first publicly-traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers.

The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities.

The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses.

Learn more at assetentities.com, and follow the Company on Twitter at $ASST and @assetentities.

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the “Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statement that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) the Company’s limited operating history; (ii) the Company’s ability to introduce new products and services; (iii) regulatory and compliance requirements; (iv) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (v) other risks and uncertainties described herein, as well as those risks and uncertainties that are described more fully in the section titled “Risk Factors” in the final prospectus related to the initial public offering filed with the SEC and other reports filed with the SEC thereafter. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

Company Contacts:

Arshia Sarkhani, President and Chief Executive Officer
Michael Gaubert, Executive Chairman
Asset Entities Inc.
Tel +1 (214) 459-3117        
Email Contact

Investor Contact:

Skyline Corporate Communications Group, LLC
Scott Powell, President
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: [email protected]

SHANGHAI, China, Aug. 03, 2023 (GLOBE NEWSWIRE) — Intchains Group Limited (Nasdaq: ICG) (“Intchains” or the “Company”), a provider of integrated solutions consisting of high-performance computing ASIC chips and ancillary software and hardware for blockchain applications, today announced that it will release its unaudited financial results for second quarter of 2023 after the U.S. market closes on Wednesday, August 16, 2023.

The Company will host an earnings conference call to discuss its financial results at 9:00 P.M. U.S. Eastern Time on August 16, 2023 (9:00 A.M. Beijing Time on August 17, 2023). Details for the conference call are as follows:

Event Title:	Intchains Group Limited Second Quarter 2023 Earnings Conference Call
Date:	August 16, 2023
Time:	9:00 P.M. U.S. Eastern Time
Registration Link:	https://register.vevent.com/register/BI41e89d9be4de44169f6ccdb152a02fe8

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of dial-in numbers and a personal access PIN, which will be used to join the conference call.

Additionally, a live and archived webcast of the conference call will also be available at the Company’s website at https://intchains.com/.

About Intchains Group Limited

Intchains Group Limited is a provider of integrated solutions consisting of high-performance ASIC chips and ancillary software and hardware for blockchain applications. The Company utilizes a fabless business model and specializes in the front-end and back-end of IC design, which are the major components of the IC product development chain. The Company has established strong supply chain management with a leading foundry, which helps to ensure its product quality and stable production output. The Company’s products consist of high-performance ASIC chips that have high computing power and superior power efficiency as well as ancillary software and hardware, which cater to the evolving needs of the blockchain industry. The Company has built a proprietary technology platform named “Xihe” Platform, which allows the Company to develop a wide range of ASIC chips with high efficiency and scalability. For more information, please visit the Company’s website at: https://intchains.com/.

For investor and media inquiries, please contact:

Intchains Group Limited

Investor relations
Email: [email protected]

Piacente Financial Communications

In China:

Helen Wu
Tel: +86-10-6508-0677
E-mail: [email protected]

In the United States:

Brandi Piacente
Tel: +1-212-481-2050
Email: [email protected] 

WORCESTER, Mass., Aug. 03, 2023 (GLOBE NEWSWIRE) — Mustang Bio, Inc. (“Mustang”) (Nasdaq: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases, today announced that Manuel Litchman, M.D., President and Chief Executive Officer, will participate in two investor conferences in August 2023.

Details of the events are as follows:

• BTIG Virtual Biotechnology Conference 2023: The company will present a corporate update on Tuesday, August 8, 2023, at 9:00 a.m. ET and will participate in one-on-one meetings during the conference. For more information or to join the conference, email [email protected].
• H.C. Wainwright Immune Cell Engager Virtual Conference: The company will participate in a fireside chat on Thursday, August 17, 2023, at 3:00 p.m. ET and will attend one-on-one meetings during the conference. A webcast of the company’s fireside chat will be available on the News & Events page of the Investor Relations section of Mustang’s website, www.mustangbio.com, for approximately 30 days after the conference.

About Mustang Bio

Mustang Bio, Inc. is a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for difficult-to-treat cancers and rare genetic diseases. Mustang aims to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, to fund research and development, and to outlicense or bring the technologies to market. Mustang has partnered with top medical institutions to advance the development of CAR-T therapies across multiple cancers, as well as lentiviral gene therapies for severe combined immunodeficiency. Mustang’s common stock is registered under the Securities Exchange Act of 1934, as amended, and Mustang files periodic reports with the U.S. Securities and Exchange Commission (“SEC”). Mustang was founded by Fortress Biotech, Inc. (Nasdaq: FBIO). For more information, visit www.mustangbio.com.

Forward‐Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions. The Company’s forward-looking statements, include, but are not limited to, any statements relating to our growth strategy and product development programs, including the timing of and our ability to make regulatory filings such as INDs and other applications and to obtain regulatory approvals for our product candidates, statements concerning the potential of therapies and product candidates and any other statements that are not historical facts. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. Risks and uncertainties include, among other things, risks related to whether Company’s third-party manufacturer is able to successfully perform its obligation to produce the Company’s products under the manufacturing services agreement on a timely basis and to acceptable standards; disruption from the sale of the Company’s manufacturing facility making it more difficult to maintain business and operational relationships; negative effects of the announcement of the consummation of the sale of the Company’s manufacturing facility on the market price of the Company’s common stock; significant transaction costs; the development stage of the Company’s primary product candidates, our ability to obtain, perform under, and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in Part I, Item 1A, “Risk Factors,” in our Annual Report on Form 10-K filed on March 30, 2023, subsequent Reports on Form 10-Q, and our other filings we make with the SEC. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Company Contact:

Jaclyn Jaffe
Mustang Bio, Inc.
(781) 652-4500
[email protected]

Investor Relations Contact:

Daniel Ferry
LifeSci Advisors, LLC
(617) 430-7576
[email protected]

Media Relations Contact:

Tony Plohoros
6 Degrees
(908) 591-2839
[email protected]

LAKEWOOD, Colo., Aug. 03, 2023 (GLOBE NEWSWIRE) — Mesa Laboratories, Inc. (NASDAQ:MLAB), a global leader in the design and manufacturing of life science tools and critical quality control solutions, today announced results for its first fiscal quarter (“1Q24”) ended June 30, 2023.

First quarter FY 2024 highlights compared to first quarter FY 2023:

• Revenues increased 0.4%
• Non-GAAP core organic revenues growth
  ³
  was 2.0%
• Operating loss decreased 85.5%
• Non-GAAP adjusted operating income
  ¹
  excluding unusual items increased 46.2%

Executive Commentary (amounts in thousands)

“Revenues of $50,645 in the quarter resulted in an organic revenue (“organic”) increase of 0.3% for the quarter. Revenues headwinds remain unchanged from 4Q23: a slowing capital equipment market in the broader life science tools space, the previously announced customer loss at Sema4, and currency headwinds. Specifically, capital equipment placements in the Biopharmaceutical Development division were below expectations for the quarter with sales cycles elongating. Excluding currency and COVID related revenues, core organic revenues growth (“core organic”) was 2.0% for the quarter. The primary gap to our long-term core growth target is the approximate 4.0% headwind from the loss of the Sema4 business,” said Gary Owens, Chief Executive Officer of Mesa.

“Profitability as measured by our primary metric of adjusting operating income (“AOI”) excluding unusual items came in at $9,524 or 18.8% of revenues, an increase of 46.2% versus prior year.   Despite the challenging sales environment, gross profit percentages held roughly steady and operating expenses declined 2.6% sequentially and 11.4% versus prior year as cost reductions enacted in 4Q23 and a continuous improvement in internal productivity delivered significantly improved bottom line results,” added Mr. Owens.

“We are pleased to see our Calibration Solutions division return to growth as our supply chain issues abate, that the Clinical Genomics business systems pipeline continues to grow in North America, and that our overall business in China remains robust. Given ongoing economic uncertainty, we will be conservative in deploying operating expenses,” concluded Mr. Owens.

Financial Results (amounts in thousands, except per share data)

Total revenues were $50,645, an increase of 0.4% compared to the first quarter of fiscal year 2023 (“1Q23”) as last year’s acquisition of Belyntic made a modest contribution to revenue. Operating loss decreased 85.5% to $ (664). Net loss was $(549), a decrease of 61.8% or $(0.10) per diluted share of common stock.   As detailed in the Unusual Items table below, operating income for 1Q23 was impacted by unusual items totaling $356.

On a non-GAAP basis, core organic growth was 2.0% and AOI increased 54.7% to $9,524 or $1.77 per diluted share of common stock compared to 1Q23. As detailed in the Unusual Items table below, AOI for 1Q23 was impacted by an unusual item totaling $356. Excluding the unusual item, AOI would have increased 46.2% from 1Q23 to 1Q24. A reconciliation of non-GAAP measures is provided in the tables below.

Division Performance

	Revenues		Organic Revenues Growth 2		Core Organic Revenues Growth 3
(Amounts in thousands)	Three Months Ended June 30, 2023		Three Months Ended June 30, 2023		Three Months Ended June 30, 2023
Clinical Genomics	$	13,369	(7.8)%		(4.4)%
Sterilization and Disinfection Control		15,927	7.8%		7.2%
Biopharmaceutical Development		9,889	(10.3)%		(6.6)%
Calibration Solutions		11,460	12.3%		12.5%
Total reportable segments	$	50,645	0.3%		2.0%

Clinical Genomics (26% of revenues in 1Q24) revenues were $13,369 for the quarter (which includes $31 of COVID related revenues) resulting in an organic decline of 7.8% for the quarter and a core organic decline of 4.4%. Excluding the 1Q23 Sema4 loss, core organic growth for this division would have been approximately 11% for the quarter, slightly higher than our long-term growth expectations. Gross profit percentage was 50.3% in the quarter, moderately below our long-term target in the mid 50’s.

Sterilization and Disinfection Control (31% of revenues in 1Q24) revenues were $15,927 for the quarter which resulted in organic growth of 7.8% and core organic growth of 7.2% versus prior year. Overall growth was weaker than expected and was impacted by a warehouse relocation of a significant distributor which depressed orders in the quarter. Gross profit percentage for the quarter was essentially flat versus prior year.

Biopharmaceutical Development (20% of revenues in 1Q24) revenues were $9,889 which yielded an organic decline of 10.3% for the quarter and a core organic quarterly decline of 6.6% versus prior year. Division growth was well below our expectations and was impacted by softening demand for capital equipment and a slower than expected ramp from newer sales representatives.   Division gross profit percentage increased by 60 bps primarily as a result of mix and to a lesser extent, price increases.

Calibration Solutions (23% of revenues in 1Q24) revenues were $11,460, an organic increase of 12.3% and a core organic increase of 12.5% versus prior year. Supply chain issues are abating and orders are picking up as turn-around times shrink.   Gross profit percentage increased by 60bps in the quarter with volume overcoming negative mix.

Use of Non-GAAP Financial Measures

Adjusted operating income, organic revenues growth and core organic revenues growth are non-GAAP measures that exclude or adjust for certain items, as detailed after the tables that accompany this press release under the heading “Supplemental Information Regarding Non-GAAP Financial Measures.” Reconciliations of GAAP to non-GAAP financial measures are provided in the tables that accompany this press release.

¹ The non-GAAP measures of adjusted operating income and adjusted operating income per diluted share are defined to exclude the non-cash impact of amortization of intangible assets acquired in a business combination, stock-based compensation and impairment of goodwill and long-lived assets. A reconciliation between these non-GAAP measures and their GAAP counterparts is set forth below, along with additional information regarding their use.

² Organic revenues growth, a non-GAAP measure, is reported revenues growth excluding the impact of acquisitions.

³ Core organic revenues growth, a non-GAAP measure, is reported revenues growth excluding the impact of acquisitions, currency translation and COVID related revenues.

About Mesa Laboratories, Inc.

Mesa is a global leader in the design and manufacturing of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. Mesa offers products and services to help our customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world.

For more information about Mesa, please visit its website at www.mesalabs.com.

Forward Looking Statements

This press release contains forward-looking statements regarding our future business expectations.   Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and present expectations or projections. Any statements contained herein that are not statements of historical fact may be forward-looking statements, including statements relating to: the duration and impact of the COVID-19 pandemic and its adverse effects on our business; our ability to successfully grow our business, including as a result of acquisitions; the results on operations of acquisitions; our ability to consummate acquisitions at our historical rate and at appropriate prices; our ability to effective integrate acquired businesses and achieve desired results; the market acceptance of our products; reduced demand for our products that adversely impacts our future revenues, cash flows, results of operations and financial condition; conditions in the global economy and the particular markets we serve; significant developments or uncertainties stemming from the U.S. government, including changes in U.S. trade policies and medical device regulations; the timely development and commercialization, and customer acceptance, of enhanced and new products and services; projections of revenues, growth, operating results, profit margins, expenses, earnings, margins, tax rates, tax provisions, cash flows, liquidity, demand, and competition; the effects of additional actions taken to become more efficient or lower costs; restructuring activities; laws regulating fraud and abuse in the health care industry and the privacy and security of health and personal information; outstanding claims, legal proceedings, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; general economic, industry, and capital markets conditions; the timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that Mesa intends or believes will or may occur in the future. Without limiting the foregoing, the words “expect,” “plan,” “seek,” “anticipate,” “intend,” “believe,” “could,” “should,” “estimate,” “may,” “target,” “project,” and similar expressions identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These forward-looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to risks and uncertainties relating to our operations and business environments, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by these forward-looking statements. These risks and uncertainties also include, but are not limited to, those described in our filings with the Securities and Exchange Commission including our Annual Report on Form 10-K for the year ended March 31, 2023 and our subsequent Quarterly Reports on Form 10-Q. We assume no obligation to update the information in this press release.

Mesa Laboratories Contacts:
Gary Owens; President and CEO,
John Sakys; CFO
1-303-987-8000
[email protected]

Financial Summary (Unaudited except for the information as of March 31, 2023)

Condensed Consolidated Statements of Operations

(Amounts in thousands, except per share data)	Three Months Ended June 30,
		2023			2022
Revenues	$	50,645		$	50,453
Cost of revenues		19,462			19,112
Gross profit		31,183			31,341
Operating expenses		31,847			35,935
Operating (loss)		(664	)		(4,594	)
Nonoperating expense		273			818
(Loss) before income taxes		(937	)		(5,412	)
Income tax (benefit)		(388	)		(3,974	)
Net (loss)	$	(549	)	$	(1,438	)
(Loss) per share (basic)	$	(0.10	)	$	(0.27	)
(Loss) per share (diluted)		(0.10	)		(0.27	)
Weighted average common shares outstanding:
Basic		5,372			5,273
Diluted		5,372			5,273

Consolidated Condensed Balance Sheets
(Amounts in thousands)	June 30, 2023		March 31, 2023
Cash and cash equivalents	$	32,376	$	32,910
Other current assets		82,432		86,065
Total current assets		114,808		118,975
Property, plant and equipment, net		27,953		28,149
Other assets		499,850		514,708
Total assets	$	642,611	$	661,832
Liabilities	$	254,892	$	268,352
Stockholders’ equity		387,719		393,480
Total liabilities and stockholders’ equity	$	642,611	$	661,832

(Amounts in thousands, except per share data)	Three Months Ended June 30,
		2023			2022
Operating (loss) (GAAP)	$	(664	)	$	(4,594	)
Amortization of intangible assets		7,220			7,320
Stock-based compensation expense		2,968			3,432
Adjusted operating income (non-GAAP)	$	9,524		$	6,158
Adjusted operating income per share (basic)	$	1.77		$	1.17
Adjusted operating income per share (diluted)	$	1.77		$	1.17
Weighted average common shares outstanding:
Basic		5,372			5,273
Diluted		5,372			5,273

Organic and Core Organic Revenues Growth (Unaudited)

	Three Months Ended June 30, 2023
Total revenues growth	0.4%
Impact of acquisitions	(0.1)%
Organic revenues growth	0.3%
Currency translation	1.3%
COVID related revenues	0.4%
Core organic revenues growth	2.0%

Detail of Unusual Items (Unaudited)

As discussed above, operating income and adjusted operating income were impacted by various unusual items during the three months ended June 30, 2022. The following table provides detail of such items and reconciles the impact on operating income as reported under GAAP and non-GAAP adjusted operating income.   (Amounts in thousands.)

Impact of unusual items on operating income	Three Months Ended June 30,
		2023			2022
Operating (loss) (GAAP)	$	(664	)	$	(4,594	)
Unusual items – before tax
Agena integration costs		—			356
Total Impact of unusual items on operating income – before tax		—			356
Operating income (loss) excluding unusual items	$	(664	)	$	(4,238	)
Impact of unusual items on adjusted operating income	Three Months Ended June 30,
		2023			2022
Adjusted operating income (non-GAAP)	$	9,524		$	6,158
Unusual items – before tax
Agena integration costs	$	—		$	356
Total impact of unusual items on adjusted operating income – before tax		—			356
Adjusted operating income excluding unusual items	$	9,524		$	6,514

Supplemental Information Regarding Non-GAAP Financial Measures

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), we provide non-GAAP adjusted operating income, non-GAAP adjusted operating income per share amounts, non-GAAP adjusted operating income excluding unusual items, organic revenues growth, and core organic revenues growth in order to provide meaningful supplemental information regarding our operational performance. We believe that the use of these non-GAAP financial measures, in addition to GAAP financial measures, helps investors to gain a better understanding of our operating results, consistent with how management measures and forecasts its operating performance, especially when comparing such results to previous periods and to the performance of our competitors. Such measures are also used by management in their financial and operating decision-making and for compensation purposes.  This information facilitates management’s internal comparisons to our historical operating results as well as to the operating results of our competitors. Since management finds this measure to be useful, we believe that our investors can benefit by evaluating both GAAP and non-GAAP results.

The non-GAAP measures of adjusted operating income and adjusted operating income per share presented in the reconciliation above are defined to exclude the non-cash impact of amortization of intangible assets acquired in a business combination, stock-based compensation and impairment of goodwill and long-lived assets. To calculate adjusted operating income, we exclude, as applicable:

• Impairments of long-lived assets as such charges are outside of our normal operations and in most cases are difficult to accurately forecast.
• Stock-based compensation expense as it is a non-cash charge and costs calculated for this expense vary in accordance with the stock price on the date of grant.
• The expense associated with the amortization of acquisition-related intangible assets as a significant portion of the purchase price for acquisitions may be allocated to intangible assets that have lives of up to 20 years. Exclusion of the amortization expense allows comparisons of operating results that are consistent over time for both our newly acquired and long-held businesses and with both acquisitive and non-acquisitive peer companies.

Our management recognizes that items such as amortization of intangible assets, stock-based compensation expense and impairment losses on goodwill and long-lived assets can have a material impact on our operating and net income. To gain a complete picture of all effects on our profit and loss from any and all events, management does (and investors should) rely upon the GAAP consolidated statements of operations. The non-GAAP numbers focus instead upon our core operating business.

Readers are reminded that non-GAAP measures are merely a supplement to, and not a replacement for, or superior to financial measures prepared according to GAAP. They should be evaluated in conjunction with the GAAP financial measures. Our non-GAAP information may be different from the non-GAAP information provided by other companies.

 

Record data center operations at 111°F (44°C)

Appointment of Sunita Parasuraman to Board of Directors

SYDNEY, Australia, Aug. 03, 2023 (GLOBE NEWSWIRE) — Iris Energy Limited (NASDAQ: IREN) (“Iris Energy” or “the Company”), a leading owner and operator of institutional-grade, highly efficient proprietary Bitcoin mining data centers powered by 100% renewable energy, today published a monthly investor update for July 2023, containing its results from operations as well as business updates.

Key Highlights

¹

Key metrics 2	Jul-23
Average operating hashrate (PH/s)	5,562
Bitcoin mined	423
Mining revenue (US$’000)	12,660
Electricity costs (US$’000)	6,552
Revenue per Bitcoin (US$)	29,939
Electricity costs per Bitcoin (US$)	15,494

• Corporate:
  • Record data center operations at 111°F (44°C) intake temperatures
    • Maintained stable hashrate through extreme temperatures
    • Demonstrates Iris Energy’s industry-leading data centers
    • Further validates proprietary air-cooled data center design
  • Appointment of Sunita Parasuraman to Board of Directors
    • Senior technology executive, previous experience with Meta (Facebook), VMware, Genentech, and Apple
• Operations (for the month of July 2023):
  • Average operating hashrate of 5,562 PH/s (flat vs. June)
  • Monthly operating revenue of US$12.7 million (+9% vs. June)
  • 423 Bitcoin mined (-1% vs. June)
  • ~US$0.2 million of estimated power sales at Childress via automated algorithm (~6 Bitcoin equivalent)³
  • Higher electricity costs per Bitcoin ($15.5k vs. $13.0k in June) primarily attributable to higher prices at Childress during the month (typically higher during summer months) and reduced market volatility (lower energy trading proceeds). The Company retains flexibility to reduce future power costs through adjusting miner output in response to changes in mining economics
• Construction:
  • Childress (Phase 1: 100MW – Texas, USA)
    • 20MW data center operating
    • Civil works for remaining 80MW scheduled to commence in August

Corporate update

Appointment of Sunita Parasuraman to Board of Directors

On July 18, 2023, the Company announced the appointment of Sunita Parasuraman to its Board of Directors. Ms. Parasuraman will also serve as Chair of the Audit and Risk Committee. During her career as a senior technology executive, Ms. Parasuraman has built and scaled world-class teams at Meta (Facebook), VMware, Genentech, and Apple.

Ms. Parasuraman currently serves on the Board of Baldwin Risk Partners (NASDAQ: BRP), a leading publicly-traded insurance distribution company, where she is a member of its Audit and Cyber Risk Committees.

The full announcement can be accessed via the following link.

Livewire Markets, David Bartholomew on ‘The Pitch’

David Bartholomew (Independent Chair) participated in a two-part video series with Livewire Markets to discuss the Company’s infrastructure business model, alternate use cases for its data centers (e.g. HPC and AI), the economics of Bitcoin mining and the attributes that set Iris Energy apart.

The video series can be accessed via the followings links: Video 1 and Video 2.

Canaccord Genuity 43rd Annual Growth Conference

Bom Shin (Head of Capital Markets) is scheduled to participate in a fireside chat with Joseph Vafi (Managing Director, Equity Research) on Wednesday, August 9 at 4.00pm Eastern Time.

The fireside chat will be recorded, and the replay accessible shortly after the event via the following link.

Mr. Shin will also be available for 1×1 meetings with investors. For more information about the conference or to request a 1×1 meeting, please contact a Canaccord Genuity representative.

Canal Flats update (0.8 EH/s, 30MW capacity) – BC, Canada

Canal Flats has been powered by 100% renewable energy since inception⁴.

The project achieved average monthly operating hashrate of 825 PH/s in July compared to 831 PH/s last month.

Mackenzie update (2.6 EH/s, 80MW capacity) – BC, Canada

Mackenzie has been powered by 100% renewable energy since inception⁴.

The project achieved average monthly operating hashrate of 2,583 PH/s in July compared to 2,572 PH/s last month.

Prince George update (1.6 EH/s, 50MW capacity) – BC, Canada

Prince George has been powered by 100% renewable energy since inception⁴.

The project achieved average monthly operating hashrate of 1,592 PH/s in July compared to 1,608 PH/s last month. During the month, the team conducted scheduled maintenance at Prince George (reliability testing of the 25kV cables between the substation and switchgear occurred on July 12-13).

Childress update (0.6 EH/s, 20MW operating / 80MW under construction) – Texas, USA

Childress has been powered by 100% renewable energy since inception via the purchase of RECs.

The project achieved average monthly operating hashrate of 562 PH/s in July compared to 577 PH/s last month.

The data center at Childress successfully maintained stable hashrate at intake temperatures of up to ~111°F (~44°C) (see chart below), further validating the Company’s industry-leading proprietary air-cooled data center design.

The Company’s ability to operate in Texas through extreme temperatures demonstrates the quality of our proprietary data centers, allowing us to enhance the operating environment of our hardware (and thereby extend asset life). This also provides true optionality to transition between mining Bitcoin and energy trading to optimize profitability, in contrast to operators who may be forced to curtail at high temperatures regardless of energy market conditions (i.e. due to operational limitations).

Childress: Hashrate vs. Intake Temperature chart is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80970e50-c5a4-4c2a-8c06-6df2fdc40e3e

Construction of the remaining 80MW is underway for Phase 1 (first 100MW), with civil works scheduled to commence in August.

The Company’s significant upfront investment in key infrastructure also provides a rapid, efficient and near-term growth pathway for the subsequent 500MW of 600MW power capacity at the site.

Community engagement

Canal Flats is pleased to advise it has renewed its sponsorship of the Columbia Valley Rockies Hockey team for the 2023/2024 season. A sponsorship of C$10,000 will go towards supporting the local youth for what is looking to be another exciting hockey season.

Applications have now closed for the 2023 Community Grants Programs for Mackenzie and Prince George. The Company is currently reviewing submissions and successful recipients are expected to be announced in the coming months.

Applications are currently being accepted for the 2023 Community Grants Program for Childress, with Iris Energy to invest up to US$100,000 into local non-profit organizations in the community.

Future development sites

Development works continued across additional sites in Canada, the USA and Asia-Pacific, which have the potential to support up to an additional >1GW of aggregate capacity that can power growth beyond the Company’s 760MW of announced capacity.

Operating and financial results

Daily average operating hashrate chart is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb12d311-6313-4d48-9ad8-a6e153a7c689

Technical commentary

The Company’s average operating hashrate was 5,562 PH/s in July (compared to 5,587 PH/s in June) with the marginal decrease primarily attributable to scheduled maintenance at Prince George (reliability testing of the 25kV cables between the substation and switchgear occurred on July 12-13). The decrease in Bitcoin mined (423 vs. 428 in June) was primarily attributable to a decrease in network transaction fees and an increase in network difficulty. The increase in electricity costs per Bitcoin ($15.5k vs. $13.0k in June) was primarily attributable to higher prices at Childress (typically higher during summer months) and reduced market volatility (lower energy trading proceeds), noting the Company retains flexibility to reduce future power costs through adjusting miner output in response to changes in mining economics.

Operating	May-23	Jun-23	Jul-23
Renewable energy usage (MW) 5	167	169	170
Avg operating hashrate (PH/s)	5,510	5,587	5,562

Financial (unaudited) 2	May-23	Jun-23	Jul-23
Bitcoin mined	508	428	423
Mining revenue (US$’000)	13,526	11,653	12,660
Electricity costs (US$’000)	6,056	5,572	6,552
Revenue per Bitcoin (US$)	26,628	27,211	29,939
Electricity costs per Bitcoin (US$)	11,922	13,011	15,494

Site	Capacity (MW)	Capacity (EH/s) 6	Timing	Status
Canal Flats (BC, Canada)	30	0.8	Complete	Operating
Mackenzie (BC, Canada)	80	2.6	Complete	Operating
Prince George (BC, Canada)	50	1.6	Complete	Operating
Total (BC, Canada)	160	5.0
Childress (Texas, USA)	20	0.6	Complete	Operating
Total Operating (Canada & USA)	180	5.6
Childress (Texas, USA)	80	3.57	Early 20248	Under construction
Total (Canada & USA)	260	9.1

About Iris Energy

Iris Energy is a sustainable Bitcoin mining company that supports the decarbonization of energy markets and the global Bitcoin network.

• 100% renewables: Iris Energy targets markets with low-cost, under-utilized renewable energy, and where the Company can support local communities
• Long-term security over infrastructure, land and power supply: Iris Energy builds, owns and operates its electrical infrastructure and proprietary data centers, providing long-term security and operational control over its assets
• Seasoned management team: Iris Energy’s team has an impressive track record of success across energy, infrastructure, renewables, finance, digital assets and data centers with cumulative experience in delivering >$25bn in energy and infrastructure projects globally

Forward-Looking Statements

This investor update includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iris Energy’s future financial or operating performance. For example, forward-looking statements include but are not limited to the Company’s business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Iris Energy’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Iris Energy’s limited operating history with operating losses; electricity outage, limitation or availability of electricity supply or increase in electricity costs, as well as limitations on the availability of electrical supply for Bitcoin mining due to restrictions imposed by governmental authorities or otherwise; long term outage or limitation of the internet connection at Iris Energy’s sites; any critical failure of key electrical or data center equipment; serial defects or underperformance with respect to Iris Energy’s equipment; failure of suppliers to perform under the relevant supply contracts for equipment that has already been procured which may delay Iris Energy’s expansion plans; supply chain and logistics issues for Iris Energy or Iris Energy’s suppliers; cancellation or withdrawal of required operating and other permits and licenses; customary risks in developing greenfield infrastructure projects; Iris Energy’s evolving business model and strategy; Iris Energy’s ability to successfully manage its growth; Iris Energy’s ability to raise additional financing (whether because of the conditions of the markets, Iris Energy’s financial condition or otherwise) on a timely basis, or at all, which could adversely impact the Company’s ability to meet its capital commitments (including payments due under any hardware purchase contracts or debt financing obligations) and the Company’s growth plans; the failure of Iris Energy’s wholly-owned special purpose vehicles to make required payments of principal and/or interest under their limited recourse equipment financing arrangements when due or otherwise comply with the terms thereof, as a result of which the lender thereunder has declared the entire principal amount of each loan to be immediately due and payable, and is taking steps to enforce the indebtedness and its rights in the Bitcoin miners with respect to certain of such loans and other assets securing such loans, including appointing a receiver with respect to such special purpose vehicles, which is expected to result in the loss of the relevant Bitcoin miners securing such loans and has materially reduced the Company’s operating capacity, and could also lead to bankruptcy or liquidation of the relevant special purpose vehicles, and materially and adversely impact the Company’s business, operating expansion plans, financial condition, cash flows and results of operations; the terms of any additional financing or any refinancing, restructuring or modification to the terms of any existing financing, which could be less favorable or require Iris Energy to comply with more onerous covenants or restrictions, any of which could restrict its business operations and adversely impact its financial condition, cash flows and results of operations; competition; Bitcoin prices, global hashrate and the market value of Bitcoin miners, any of which could adversely impact its financial condition, cash flows and results of operations, as well as its ability to raise additional financing and the ability of its wholly owned special purpose vehicles to make required payments of principal and/or interest on their equipment financing facilities; risks related to health pandemics including those of COVID-19; changes in regulation of digital assets; and other important factors discussed under the caption “Risk Factors” in Iris Energy’s annual report on Form 20-F filed with the SEC on September 13, 2022, and the Company’s report on Form 6-K filed with the SEC on February 15, 2023, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of Iris Energy’s website at https://investors.irisenergy.co.

These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this investor update. Any forward-looking statement that Iris Energy makes in this investor update speaks only as of the date of such statement. Except as required by law, Iris Energy disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Preliminary Financial Information

The preliminary financial information for the month of July 2023 included in this investor update is not subject to the same closing procedures as our unaudited quarterly financial results and has not been reviewed by our independent registered public accounting firm. The preliminary financial information included in this investor update does not represent a comprehensive statement of our financial results or financial position and should not be viewed as a substitute for unaudited financial statements prepared in accordance with International Financial Reporting Standards. Accordingly, you should not place undue reliance on the preliminary financial information included in this investor update.

Contacts

Media

Jon Snowball
Domestique
+61 477 946 068

Investors

Lincoln Tan
Iris Energy
+61 407 423 395
[email protected]

To keep updated on Iris Energy’s news releases and SEC filings, please subscribe to email alerts at https://investors.irisenergy.co/ir-resources/email-alerts.

_________________________________________________

¹ All timing references in this investor update are to calendar months, in each case unless otherwise specified.
² Bitcoin and Bitcoin mined in this investor update are presented in accordance with our revenue recognition policy which is determined on a Bitcoin received basis (post deduction of mining pool fees as applicable).
³ Represents unaudited estimated power credits (primarily driven by curtailment) under hedge contracts (based on current meter data and average quarter hour spot prices) and are reflected within the electricity costs. Bitcoin equivalent calculated by dividing the estimated power credits by the average revenue per Bitcoin of $29,939 for the month of July. Current internal estimate as monthly electricity invoices have not yet been issued for Childress.
⁴ Currently approximately 97% directly from renewable energy sources; approximately 3% from purchase of RECs.
⁵ Comprises actual power usage for Canal Flats, Mackenzie, Prince George and Childress. Canal Flats, Mackenzie and Prince George have been powered by 100% renewable energy since inception of which approximately 97% is directly from renewable energy sources; approximately 3% is from the purchase of RECs. Childress has been powered by 100% renewable energy since inception via the purchase of RECs.
⁶ Reflects estimated hashrate capacity by site assuming full utilization of existing available data center capacity with Bitmain S19j Pro miners.
⁷ Assumes purchase of Bitmain S19 XP miners. Additional miners have not yet been purchased and the Company will continue to monitor the market for purchase opportunities. Hashrate figures may change depending on miner procurement selection.
⁸ Indicative timing for completion of data centers.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0347c5ac-9ca8-482a-83df-a2556298e7f9

https://www.globenewswire.com/NewsRoom/AttachmentNg/ce69c5d1-caa1-48f7-9460-f7c32abda1ca