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U.S. Firms Push ServiceNow Providers on Future Workflows

Longtime users of the workflow automation platform are tackling industry-specific challenges with service providers’ help, ISG Provider Lens™report says

STAMFORD, Conn.–(BUSINESS WIRE)–
Many enterprises in the U.S., the most mature market for ServiceNow, are working with service providers to adapt the workflow automation platform to industry-specific processes, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2023 ISG Provider Lens™ ServiceNow Ecosystem Partners report for the U.S. finds this market is on the cutting edge of applying new capabilities to ServiceNow. The platform, which helps enterprises modernize workflows to improve business results, is expanding its role in digital transformation.

“Getting more out of ServiceNow is a much higher priority in the U.S. than in other regions,” said Bill Huber, global partner, digital platforms and solutions, at ISG. “Companies are ready to expand its role in enterprise workflows with the help of service providers.”

ServiceNow, which made its name by streamlining IT and HR processes to improve user experience, has been broadening its reach by adding AI-powered capabilities in areas such as predictive analytics, virtual agents and natural-language processing. As enterprises implement new work modes, they have a greater need to coordinate workflows across all parts of the organization, ISG says. ServiceNow provides a horizontal workflow automation bus that ties these workflows together.

U.S. enterprises that already use ServiceNow are seeking industry-specific specializations to improve processes well beyond IT or HR, such as financial reporting and regulatory compliance for particular sectors, the report says. By applying ServiceNow to more functions, they hope to realize higher returns on investment from the platform, a need that grows more vital as economic and competitive pressures increase.

Users of ServiceNow in the U.S. are also building more advanced enterprise data applications around it, taking advantage of new features in analytics and predictive modeling, ISG says. This allows for greater automation of tasks such as analyzing legal documents and evaluating progress toward environmental, social and governance (ESG) goals. ServiceNow provider partners bring essential AI and machine learning expertise to these initiatives.

“U.S. companies are becoming more agile through the integration of ServiceNow and sophisticated third-party data tools,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “These projects show what enterprises around the world can achieve.”

The report also examines other trends shaping the ServiceNow ecosystem in the U.S., including valuable features coming in the platform’s so-called “Tokyo” release, which will be generally available later this year, and the growing use of ServiceNow’s low-code/no-code development tools.

For more insights into enterprise workflow integration challenges and advice on how to evaluate providers’ solutions to them, see the ISG Provider Lens™ Focal Points briefing here.

The 2023 ISG Provider Lens™ ServiceNow Ecosystem Partners report for the U.S. evaluates the capabilities of 33 providers across three quadrants: ServiceNow Consulting Services, ServiceNow Implementation and Integration Services, and ServiceNow Managed Service Providers.

The report names Accenture, Capgemini, Cask, Cognizant, Deloitte, HCLTech, Hexaware, Infosys, LTIMindtree, TCS and Wipro as Leaders in all three quadrants. It names DXC Technology as a Leader in two quadrants and IBM as a Leader in one quadrant.

In addition, Coforge and INRY are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants each. RapDev is named as a Rising Star in one quadrant.

A customized version of the report is available from Hexaware.

The 2023 ISG Provider Lens™ ServiceNow Ecosystem Partners report for the U.S. is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005558/en/

Press Contacts:

Will Thoretz, ISG

+1 203 517 3119

[email protected]

Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

[email protected]

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Networks Data Management Other Technology Technology Software

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WSFS Bank Study Finds Americans Are Confident Managing Their Money, But Inflation, Rising Costs and Fears of an Economic Downturn Are Impacting Financial Security

WILMINGTON, Del.–(BUSINESS WIRE)–
A new survey from WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), found Americans are confident managing their money, including 91% of respondents in the Greater Philadelphia and Delaware region (89% nationally), but 34% in the region were not confident they could weather an economic downturn or recession (41% nationally).

The study, which surveyed 1,001 residents of the Greater Philadelphia and Delaware region and 1,000 national respondents, gauged the financial goals, confidence and access of those 18 years and older.

Impact of Inflation and Rising Costs

The study found 34% of regional respondents (39% nationally) were not confident they could afford rising costs of living, and many are making changes to their spending habits as a result.

Nearly two-thirds (61%) of total regional respondents said they are cutting back on non-essential spending, compared to 69% nationally, while 42% of regional respondents said they are delaying a large purchase like a home, car or furniture. Thirty-eight percent of regional respondents are focusing more on paying down debt because of rising costs, while 33% are tapping into their savings to help pay for everyday items.

Rising costs and interest rates have also resulted in 25% of regional respondents saying they have more debt now than a year ago. Among regional respondents, Black (71%) and White (74%) respondents were more likely to cite higher prices and cost of living due to inflation as a reason for their increased debt than Hispanic or Latino (57%) respondents.

Half (52%) of regional residents said if faced with an emergency expense of $1,000 or more, they would have to borrow money, take out a loan or pay it off with a credit card over time. Sixty-one percent of regional Hispanic or Latino respondents would need to do this compared to 50% of White and 46% of Black respondents.

“Inflation and rising costs have had an impact on many consumers’ financial security and goals over the past year,” said Shari Kruzinski, Executive Vice President and Chief Consumer Banking Officer at WSFS Bank. “High interest rates are making borrowing more expensive. One silver lining to increased rates is the opportunity to earn more on your savings by using higher interest savings tools like High Yield Money Markets and Certificates of Deposit (CDs). The most important thing is to strive to maintain a balanced budget. If you need more assistance, consider setting up an appointment with your local banker to discuss the accounts, products and services that may work best for your unique financial situation.”

Financial Education and Confidence

The impact of the current economic environment also played a role in the top financial goals this year, with regional respondents saying that building an emergency fund (52%) is their top goal, followed by increasing savings in retirement accounts (49%) and paying off debts (47%).

A key driver behind respondents’ financial confidence was their financial education. Banks and financial service providers (43%) topped the list of where regional respondents received their financial education, followed by websites, blogs, social media, podcasts and other online sources (42%).

Regionally, 44% feel they did not receive enough financial education and guidance about managing their money, and this figure rises to 52% nationally. Black respondents in the region (55%) were more likely to agree with this sentiment than White (45%) and Hispanic or Latino (30%) respondents. On the regional level, 45% of respondents said they felt disadvantaged by the amount of financial education they received, with Hispanic or Latino respondents (60%) being more likely to agree than White (39%) and Black (44%) respondents.

“Financial education plays a key role in building the confidence needed to achieve many major goals in life,” said Vernita Dorsey, Senior Vice President, Director of Community Strategy at WSFS Bank. “We understand the importance of working with the broader community to provide key lessons to students and adults of all age ranges. Learning is lifelong, and I encourage consumers to use tools like the WSFS Knowledge Center for tips and resources, in addition to our in-person Associate led workshops to further build their financial confidence.”

Importance of Financial Access and Advice

Seventy-one percent of regional respondents said they wished they had received more financial education (64% nationally), which can play a key role in building financial confidence to access the products and services needed.

Regionally, 30% said their financial institution has shared helpful financial advice through emails, online or through an app, and 26% said they were offered in-person advice.

Sixty-two percent in the region said they found it easy to access financial products to meet their individual needs, with Hispanic respondents most likely to agree (68%), followed by White (64%) and Black (47%) respondents.

High interest rates (39%) and fees/costs (39%) are the leading barrier to entry for regional residents when it comes to using financial products, with 36% and 43% of national respondents agreeing, respectively.

Survey Methodology

The study was conducted by research company Opinium. The sample includes 1,000 national respondents and 1,001 in the Greater Philadelphia and Delaware region who reside in five southeastern Pennsylvania counties (Bucks, Chester, Delaware, Montgomery and Philadelphia), four southern New Jersey counties (Atlantic, Burlington, Camden and Gloucester), and all three Delaware counties (Kent, Sussex and New Castle). All respondents were ages 18+. The online survey was conducted from February 28-March 8, 2023, with a combined regional and national margin of error of +/- 3.1 percent.

About Opinium, Inc.

Founded in 2007 Opinium is an award-winning strategic insight agency built on the belief that in a world of uncertainty and complexity, success depends on the ability to stay on the pulse of what people think, feel and do. Creative and inquisitive, the Opinium team is passionate about empowering clients to make the decisions that matter. Opinium works with organizations to define and overcome strategic challenges – helping them to get to grips with the world in which their brands operate. It uses the right approach and methodology to deliver robust insights, strategic counsel, and targeted recommendations that generate change and positive outcomes.

About WSFS Financial Corporation

WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region. As of December 31, 2022, WSFS Financial Corporation had $19.9 billion in assets on its balance sheet and $64.5 billion in assets under management and administration. WSFS operates from 119 offices, 92 of which are banking offices, located in Pennsylvania (61), Delaware (39), New Jersey (17), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust^®, The Bryn Mawr Trust Company of Delaware, Cash Connect^®, NewLane Finance^®, Powdermill^® Financial Solutions, WSFS Institutional Services^®, WSFS Mortgage^®, and WSFS Wealth^® Investments. Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005550/en/

Media:

Kyle Babcock

(215) 864-1795

[email protected]

KEYWORDS: United States North America Delaware

INDUSTRY KEYWORDS: Banking Personal Finance Professional Services Women Seniors Marketing Communications Men Family Consumer Finance

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Comcast Central Division Names Quiana Pinckney Vice President of Employee Communications

ATLANTA–(BUSINESS WIRE)–
Comcast has announced the appointment of Quiana Pinckney as Vice President of Employee Communications at its Central Division Headquarters in Atlanta, Georgia. In this role, Pinckney will serve as a key part of the Division Communications team and lead the development, delivery and transformation of strategic employee communications programs.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230330005181/en/

“Quiana brings a wealth of knowledge, insight and leadership that will play an instrumental role in reimagining employee communications and engagement at Comcast,” said Sophia Marshall, Comcast Central Division Senior Vice President of Communications. “Her proven ability to keep teams informed will further strengthen Comcast’s position as a leader in connected culture and employee relations.”

An accredited communications leader, Pinckney has more than 20 years of experience leading corporate communications, crisis management and delivering experiences through compelling storytelling. Most recently, she led communications and public relations as the Vice President of Corporate Communications at EmployBridge (EB), an industry-leading workforce solutions provider.

Before joining EB, Pinckney served as the Head of Strategic Communications and Public Relations for HD Supply, a wholly-owned subsidiary of The Home Depot. As the head of communications, Pinckney led integrated communications that included setting the communications strategy, managing merger, acquisition and divestiture communications, community relations and executive positioning.

Throughout her career, Pinckney has also held positions with increasing levels of responsibility at various organizations, including Constangy, Brooks, Smith & Prophete, LLP, a national labor and employment law firm, as well as The Powell Group, a public relations and marketing agency based in Dallas.

Pinckney holds a bachelor’s degree from the University of Arkansas at Pine Bluff, a master’s degree from George Washington University, and received her accreditation from the Universal Accreditation Board of Public Relations (APR) – PRSA – in 2015.

In 2019, Pinckney was named to the Georgia chapter of the Public Relations Society of America’s (PRSA) inaugural “Forty Under 40” list, honoring the state’s best and brightest young communications professionals. She is a board member of the Georgia Chapter of the Public Relations Society of America (PRSA) and is active in several community and charitable organizations.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005181/en/

Suzanne Forte

(cell) 404-955-4374

[email protected]

KEYWORDS: Georgia United States North America

INDUSTRY KEYWORDS: Entertainment Communications TV and Radio General Entertainment Other Communications Publishing Public Relations/Investor Relations

MEDIA:

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Quiana Pinckney appointed Vice President of Employee Communications at Comcast Central Division Headquarters in Atlanta. (Photo: Business Wire)

Quad Solution for Packaging In-Store Displays Eliminates Plastic at its Earliest Point of Entry

Innovative LAMà® Band rids hard-to-recycle waste from in-store signage

SUSSEX, Wis.–(BUSINESS WIRE)–
Quad/Graphics (NYSE: QUAD), a global marketing experience company, announced the LAMà Band, an innovative and sustainable solution for packaging the company’s proprietary signage offering. LAMà Displays will now be delivered to retailers bundled with an easy-to-remove band made of the same recyclable paperboard used for the signs themselves.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230330005141/en/

With assembly instructions printed directly on the LAMà Bands, they are expected to eliminate 330,000 plastic polybags, 330,000 one-time-use paper instruction sheets, 660 paper-ream wraps, 66 corrugated boxes, 132 plastic straps, and eight wooden pallets from ever entering the waste stream every year. (Based on Quad’s 2022 sales data.)

The creation of the LAMà Band is a story of Quad’s “maker culture” in action. Its concept originated with the Quad In-Store division’s structural design team, which was tasked with developing innovative ideas that would advance Quad’s ongoing commitment to sustainability – for its own business and for its clients. This update to the LAMà Display packaging is also cost-neutral, and the change removes friction for retailers by making the assembly process even easier.

“The LAMà Band is a testament to the innovation in Quad’s DNA. The company was founded on the idea that there’s a better way. This eco-friendly solution – which came from a ‘moonshot’ idea – is just that: a better way,” said Kelly Burt, Vice President of Quad In-Store. “This is another important step in our ongoing sustainability journey. I can’t wait to see what we do next.”

“The simplest way to reduce waste is through innovative solutions centered on the principles of continuous improvement, which is exactly what Quad is doing here,” said Maura Packham, Quad Senior Vice President of Corporate Responsibility. “We’re committed to advancing our own environmental initiatives and bringing sustainable solutions to our clients. These are intentional changes to our offerings that we believe will generate long-term environmental benefits and contribute to our bottom line.”

View a comparison of the old and new LAMà packaging in this video.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, our current expectations about the Company’s future results, financial condition, sales, earnings, free cash flow, margins, objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook of the Company and can generally be identified by the use of words or phrases such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “project,” “believe,” “continue” or the negatives of these terms, variations on them and other similar expressions. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control.

The factors that could cause actual results to materially differ include, among others: the impact of decreasing demand for printed materials and significant overcapacity in a highly competitive environment creates downward pricing pressures and potential under-utilization of assets; the impact of fluctuations in costs (including labor and labor-related costs, energy costs, freight rates and raw materials, including paper and the materials to manufacture ink) and the impact of fluctuations in the availability of raw materials, including paper, parts for equipment and the materials to manufacture ink; the impact macroeconomic conditions, including inflation, rising interest rates and recessionary concerns, as well as ongoing supply chain challenges, labor availability and cost pressures, distribution challenges and the COVID-19 pandemic, have had, and may continue to have, on the Company’s business, financial condition, cash flows and results of operations (including future uncertain impacts); the impact of increased business complexity as a result of the Company’s transformation to a marketing experience company; the inability of the Company to reduce costs and improve operating efficiency rapidly enough to meet market conditions; the impact of changes in postal rates, service levels or regulations, including delivery delays; the failure to attract and retain qualified talent across the enterprise; the impact of a data-breach of sensitive information, ransomware attack or other cyber incident on the Company; the fragility and decline in overall distribution channels; the impact of digital media and similar technological changes, including digital substitution by consumers; the impact negative publicity could have on our business and brand reputation; the failure of clients to perform under contracts or to renew contracts with clients on favorable terms or at all; the impact of risks associated with the operations outside of the United States, including trade restrictions, currency fluctuations, the global economy, costs incurred or reputational damage suffered due to improper conduct of its employees, contractors or agents, and geopolitical events like war and terrorism; the COVID-19 pandemic continues to negatively affect the Company’s business, financial condition, cash flows, results of operations, supply chain and raw materials availability, as well as client demand (including future uncertain impacts); the failure to successfully identify, manage, complete and integrate acquisitions, investment opportunities or other significant transactions, as well as the successful identification and execution of strategic divestitures; significant investments may be needed to maintain the Company’s platforms, processes, systems, client and product technology, marketing and talent, and to remain technologically and economically competitive; the impact of the various restrictive covenants in the Company’s debt facilities on the Company’s ability to operate its business, as well as the uncertain negative impacts macroeconomic conditions may have on the Company’s ability to continue to be in compliance with these restrictive covenants; the impact of an other than temporary decline in operating results and enterprise value that could lead to non-cash impairment charges due to the impairment of property, plant and equipment and other intangible assets; the impact of regulatory matters and legislative developments or changes in laws, including changes in cyber-security, privacy and environmental laws; the impact on the holders of Quad’s class A common stock of a limited active market for such shares and the inability to independently elect directors or control decisions due to the voting power of the class B common stock; and the other risk factors identified in the Company’s most recent Annual Report on Form 10-K, which may be amended or supplemented by subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission.

Except to the extent required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Quad

Quad (NYSE: QUAD) is a global marketing experience company that gives brands a more streamlined, impactful, flexible and frictionless way to go to market and reach consumers. Quad’s strategic priorities are powered by three key competitive advantages that include integrated marketing platform excellence, ongoing innovation, and culture and social purpose. The company’s integrated marketing platform is powered by a set of core specialties including strategy and consulting, data and analytics, technology solutions, media services, creative and content solutions, and managed services.

Serving more than 2,900 clients, Quad has approximately 15,000 people working in 14 countries around the world.

Please visit quad.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005141/en/

Jennifer Wasmer

Quad External Communications

203-522-1699

[email protected]

Tory Hyde

Stanton Communications

[email protected]

KEYWORDS: United States North America Wisconsin

INDUSTRY KEYWORDS: Chemicals/Plastics Retail Content Marketing Data Management Manufacturing Technology Advertising Communications Professional Services Supply Chain Management Other Technology Software Digital Marketing Data Analytics Packaging

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The LAMà® Band, a new packaging solution from Quad for its proprietary LAMá Displays, eliminates the need for single-use plastic bags and paper instruction sheets (pictured on left). The cost-neutral solution (right) showcases Quad’s steadfast commitments to sustainability and innovation – for its own business, and for its clients. (Photo: Business Wire)

Enrollment Opens for MN Online Public Schools with Teachers Specializing in Personalized Online Learning

Alternative options for part-time and full-time benefit MN students struggling in the classroom

MINNEAPOLIS–(BUSINESS WIRE)–
Enrollment is open for any Minnesota student to attend an online public school tailored to each student’s needs. Students looking for an alternative to traditional brick-and-mortar benefit from Stride-powered, tuition-free programming provided by licensed Minnesota teachers and based on 20 years of online K-12 teaching experience.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230330005127/en/

Minnesota’s K-12 online public schools provide a quality and personalized education for each student, regardless of individual circumstances. By leveraging Stride’s resources built on decades of online educational programming, the schools continue improving student experiences. These schools provide a variety of programming options reflecting the diverse student population and variety of student goals and motivations. Programming options include full- or part-time schooling and collaborative partnerships with brick-and-mortar public schools and community groups. Curriculum through the schools meets Minnesota standards.

School accommodations include rigorous career training and pathways, credit recovery, flexible scheduling, frequent one-on-one interactions with teachers, and a safe, accessible and inclusive learning environment. In addition to learning, students maintain social lives through student interaction in class, frequent in-person field trips, school clubs, and other local partnerships.

“We have been helping students succeed in an online environment for decades, and teachers have the benefit of teaching resources based on this experience,” said Stride Vice President of Minnesota William Johnston. “This is a great option for Minnesota students who are not thriving in the traditional setting and need an alternative, more personalized version of public education.”

Minnesota’s three Stride-powered schools each have different expertise. Minnesota Virtual Academy (MNVA) designs a program for each student’s needs, including options for college-level courses and career pathways. IQ Minnesota (IQMN) tailors each student’s experience by making a welcoming and safe environment a priority. Insight Minnesota assists students to find their identity and value in the educational journey, by helping them find their best learning style and through a focus on social justice and inclusivity.

“Our schools provide individualized support and are inclusive of all types of kids in the state of Minnesota,” said Minnesota Virtual Academy Superintendent Mary Morem. “There is a place in our schools for every Minnesota student, regardless of their previous educational experiences. We are interested in what is best for each student, and we partner with families to see how we can adapt our programming to meet their student’s needs.”

Enrollment is currently open throughout Minnesota for any student looking for alternative learning options. Click here to learn about enrollment at InsightMN, IQ MN and MNVA.

About Insight School of Minnesota:

Insight School of Minnesota (ISMN) is a tuition-free, full- and part-time online public school program of Brooklyn Center School District that serves students in grades 6 through 12. As a Minnesota public school, ISMN is tuition-free, giving parents and families the choice to access the curriculum provided by K12, a Stride company (NYSE: LRN). Stride offers learners of all ages a more effective way to learn and build their skills for the future. For more information about ISMN, visit mn.insightschools.net.

About iQ Academy Minnesota:

iQ Academy Minnesota (iQMN) is an accredited, full- and part-time online public school program of Independent School District No. 544 (Fergus Falls), serving students statewide in grades K through 12 throughout the state. As part of the Minnesota public school system, iQ Academy Minnesota is tuition-free and gives parents and families the choice to access the engaging curriculum and tools provided by K12, a Stride Company (NYSE: LRN). Stride offers learners of all ages a more effective way to learn and build their skills for the future. For more information about iQMN, visit mn.iqacademy.com.

About Minnesota Virtual Academy:

Minnesota Virtual Academy (MNVA) is a tuition-free online public school program of Houston Public Schools that serves students in grades K through 12. A Minnesota Department of Education-approved provider of online education, MNVA gives parents and families the choice to access the curriculum and tools provided by K12, a Stride company (NYSE: LRN). Stride offers learners of all ages a more effective way to learn and build their skills for the future. For more information about MNVA, visit mnva.k12.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005127/en/

Carol Schuler

[email protected]

612-281-7030

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Primary/Secondary Education Technology Software Other Education Internet

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Gatos Silver Files Financial Results for the First Three Quarters of 2022 and Announces Investor Conference Call for 2022 Year-End Results

VANCOUVER, British Columbia–(BUSINESS WIRE)–
Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) today filed its quarterly reports on Forms 10-Q for the quarters ended March 31, June 30, and September 30, 2022, which include its unaudited condensed consolidated financial statements for such periods. The 10-Qs were filed on both the EDGAR and SEDAR systems and are posted on the Gatos Silver website at https://gatossilver.com.

The Company expects that it will file its annual report on Form 10-K for the year ended December 31, 2022, on March 30, 2023, after markets close, which will include its financial results and its audited consolidated financial statements for the period.

The Company plans to host an investor and analyst call on March 31, 2023, details of which are provided below.

As previously disclosed, the unaudited condensed consolidated financial statements for the first three quarters of 2022 were delayed following Gatos Silver’s January 25, 2022, announcement of errors in the 2020 Technical Report that ultimately resulted in a reduction in the metal content of its previously estimated mineral reserves. With the filing of the Form 10-Qs for the first three quarters of 2022, Gatos Silver is current on its U.S. and Canadian securities regulatory filing requirements. The Company has, therefore, requested the Ontario Securities Commission to revoke the related Management Cease Trade Orders.

Gatos Silver’s net income for the nine months ended September 30, 2022, was $18.3 million¹ or $0.26 per basic and diluted share compared with a year-earlier net loss of $3.1 million or $0.05 per basic and diluted share. The improvement in net income was primarily due to an increase in revenue for the 70%-owned Los Gatos Joint Venture (“LGJV”) driven by strong production. Production results for the nine months ended September 30, 2022, were disclosed on October 11, 2022.

In summary, the LGJV achieved the following results for the nine months ended September 30, 2022, compared with the same period a year earlier (100% basis):

• Revenue of $218.7 million, up 23% from $178.3 million
• Cost of sales of $81.6 million, up 16% from $70.3 million
• Net income of $53.0 million, up 27% from $41.7 million
• Cash flow from operations of $118.3 million, up 39% from $85.0 million
• By-product cash cost² of $1.24 per payable ounce of silver, down 77% from $5.48
• By-product AISC² of $9.50 per ounce of payable silver, down 42% from $16.33

For additional details please see the Company’s quarterly filings on the Company’s website, or on EDGAR and SEDAR.

The Company remains well-positioned to achieve its guidance and disclosed plans for 2023, including the further optimization of the Cerro Los Gatos (“CLG”) operation, advancing mine life extension opportunities, accelerating the drilling on the mineralization recently discovered at depth in the new South-East Deeps zone, and continuing exploration of the highly prospective Los Gatos district.

______________

¹ The Company’s reporting currency is US dollars.

² See “Non-GAAP Financial Performance Measures” for additional information.

Financial Results Webcast and Conference Call

Investors and analysts are invited to attend the year-end financial results webcast and conference call as follows:

Date: Friday, March 31, 2023

Time: 8:00 a.m. PT / 11:00 a.m. ET

Listen-Only Webcast: https://events.q4inc.com/attendee/175852880

Dial In for Analysts only: 1 (888) 330-2513

An archive of the webcast will be available at https://gatossilver.com within 24 hours.

About Gatos Silver

Gatos Silver is a silver dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua State, Mexico. As a 70% owner of the LGJV, the Company is primarily focused on operating the Cerro Los Gatos mine and on growth and development of the Los Gatos district. The LGJV consists of over 103,000 hectares of mineral rights, representing a highly prospective and under-explored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets.

Non-GAAP Financial Performance Measures

We use certain measures that are not defined by GAAP to evaluate various aspects of our business. These non-GAAP financial measures are intended to provide additional information only and do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The measures are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Please see “Cash Costs and All-In Sustaining Costs” and “Reconciliation of expenses (GAAP) to non-GAAP measures” below.

Cash Costs and All-In Sustaining Costs

Cash costs and all-in sustaining costs (“AISC”) are non-GAAP measures. AISC was calculated based on guidance provided by the World Gold Council (“WGC”). WGC is not a regulatory industry organization and does not have the authority to develop accounting standards for disclosure requirements. Other mining companies may calculate AISC differently as a result of differences in underlying accounting principles and policies applied, as well as definitional differences of sustaining versus expansionary (i.e. non-sustaining) capital expenditures based upon each company’s internal policies. Current GAAP measures used in the mining industry, such as cost of sales, do not capture all of the expenditures incurred to discover, develop and sustain production. Therefore, we believe that cash costs and AISC are non-GAAP measures that provide additional information to management, investors and analysts that aid in the understanding of the economics of the Company’s operations and performance compared to other producers and provides investors visibility by better defining the total costs associated with production.

Cash costs include all direct and indirect operating cash costs related directly to the physical activities of producing metals, including mining, processing and other plant costs, treatment and refining costs, general and administrative costs, royalties and mining production taxes. AISC includes total production cash costs incurred at the LGJV’s mining operations plus sustaining capital expenditures. The Company believes this measure represents the total sustainable costs of producing silver from current operations and provides additional information of the LGJV’s operational performance and ability to generate cash flows. As the measure seeks to reflect the full cost of silver production from current operations, new project and expansionary capital at current operations are not included. Certain cash expenditures such as new project spending, tax payments, dividends, and financing costs are not included.

Reconciliation of expenses (GAAP) to non-GAAP measures

The table below presents a reconciliation between the most comparable GAAP measure of the LGJV’s expenses to the non-GAAP measures of (i) cash costs, (ii) cash costs, net of by-product credits, (iii) co-product all-in sustaining costs and (iv) by-product all-in sustaining costs for our operations.

		Nine Months Ended
(in thousands, except unit costs)		September 30, 2022		September 30, 2021
Cost of sales		$81,550		$70,275
Royalties		2,739		3,480
Exploration		6,235		3,505
General and administrative		9,846		9,493
Depreciation, depletion and amortization		52,340		36,388
Expenses		$152,710		$123,141
Depreciation, depletion and amortization		(52,340)		(36,388)
Exploration1		(6,235)		(3,505)
Treatment and refining charges2		15,668		16,372
Cash costs (A)		$109,803		$99,620
Sustaining capital		57,036		51,864
AISC (B)		$166,839		$151,484
By-product credits3		(101,200)		(73,402)
AISC, net of by-product credits (C)		$65,639		$78,082
Cash costs, net of by-product credits (D)		$8,603		$26,218
Payable ounces of silver equivalent4 (E)		11,877		7,837
Co-product cash cost per ounce of payable silver equivalent (A/E)		$9.25		$12.71
Co-product AISC per ounce of payable silver equivalent (B/E)		$14.05		$19.33
Payable ounces of silver (F)		6,912		4,782
By-product cash cost per ounce of payable silver (D/F)		$1.24		$5.48
By-product AISC per ounce of payable silver (C/F)		$9.50		$16.33
1 Exploration costs are not related to current operations.
2 Represent reductions on customer invoices and included in Sales of the LGJV combined statement of income (loss).
3 By-product credits reflect realized metal prices of zinc, lead and gold for the applicable period, which includes any final settlement adjustments from prior periods.
4 Silver equivalents utilize the average realized prices during the nine months ended September 30, 2022, of $20.38/oz silver, $1.55/lb zinc, $0.98/lb lead and $1,837/oz gold and the average realized prices during the three months ended September 30, 2022 of $17.25/oz silver, $1.52/lb zinc, $0.91/lb lead and $1,790/oz gold. Silver equivalents utilize the average realized prices during the nine months ended September 30, 2021 of $24.03/oz silver, $1.29/lb zinc, $0.97/lb lead and $1,799/oz gold and the average realized prices during the three months ended September 30, 2021 of $23.31/oz silver, $1.40/lb zinc, $0.99/lb lead and $1,776/oz gold.

Forward-Looking Statements

This press release contains statements that constitute “forward looking information” and “forward-looking statements” within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this press release that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including statements regarding completion and filing of the Company’s Form 10-K, its ability to achieve guidance and disclosed plans for 2023, further optimization of the CLG operation, the advancement of mine life extension opportunities including definition drilling in the South-East Deeps zone, and exploration in the Los Gatos district are forward-looking statements. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management, which include, but is not limited to, management’s belief that continued exploration of the Los Gatos district will yield positive results and that the conversion of the higher-grade portion of the current mineral resources into reserves can be achieved on a timely basis or at all. Actual results may differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, changes in development or mining plans due to changes in logistical, technical or other factors, the possibility that future exploration results will not be consistent with the Company’s expectations, assumptions regarding the availability of required permits, changes in world silver markets and silver prices and other risks described in our filings with the U.S. Securities and Exchange Commission and Canadian securities commissions. Gatos Silver expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005518/en/

Investors and Media Contact

André van Niekerk

Chief Financial Officer

[email protected]

(604) 424-0984

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Mining/Minerals Natural Resources

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