Market Newsdesk

May 17, 2021 9:05 am

Spark Networks SE Reports First Quarter 2021 Financial Results

– Spark recorded revenue of $56.4 million for the First Quarter 2021

– Monthly Average Revenue Per User, or Monthly ARPU, increased to $20.97

PR Newswire

BERLIN, May 17, 2021 /PRNewswire/ — Spark Networks SE (NYSE American: LOV), one of the world’s leading online dating platforms leveraging premium, complementary brands including Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, today reported first quarter 2021 financial results.

“I am pleased with our first quarter financial results and the progress we are making in establishing Spark as a leader in social dating for meaningful relationships,” said Eric Eichmann, CEO of Spark Networks. “We are improving the dater’s experience and setting a strong foundation for top line growth. We are on track to launch livestreaming on Zoosk and complete the rollout of compelling new aesthetics for our top brands in Q3. These innovations, combined with additional future social features should lead to higher user engagement across our properties.”

First Quarter 2021 Financial Results

Revenue for the first quarter of 2021 was $56.4 million, a decrease of $1.3 million compared to $57.7 million in the first quarter of 2020. The decrease in Revenue was attributable to the 3.0% decrease in the number of average paying subscribers.
Net Loss was $6.5 million in the first quarter of 2021, an increase of $2.7 million compared to Net Loss of $3.8 million in the first quarter of 2020. The increase in Net Loss was primarily driven by a decrease in contribution and an increase in personnel costs.
Adjusted EBITDA was $4.8 million in the first quarter of 2021, a decrease of $2.7 million compared to $7.5 million in the first quarter of 2020.
The Company ended the quarter with $17.3 million in cash and $96.1 million in debt.

Key Performance Indicators

Average Paying Subscribers decreased by 27,837, or 3.0%, to 896,344 in the first quarter of 2021, compared to 924,181 in the same period of 2020.
Monthly Average Revenue Per User, or Monthly ARPU, increased to $20.97 in the first quarter of 2021, compared to $20.80 in the same period of 2020.

Financial Outlook

Spark’s first quarter 2021 financials remain in-line with its previously stated 2021 guidance of $238 to $244 million and Adjusted EBITDA of $33 to $36 million. The Company anticipates that both Second Quarter revenue and Adjusted EBITDA will increase and are providing revenue guidance of $54–$56 million and Adjusted EBITDA of $6 to $7 million.

Key Metrics

(Amounts in $ millions, except Total Registrations, Avg. Paying Subs, and Monthly ARPU)

	Three Months Ended March 31,
	2021		2020		% Change
Revenue	$	56.4	$	57.7	(2.2)	%
Contribution¹	$	26.0	$	27.8	(6.6)	%
Net loss	$	(6.5)	$	(3.8)	69.9	%
Adjusted EBITDA²	$	4.8	$	7.5	(35.6)	%
Cash Balance	$	17.3	$	19.3	(10.4)	%
Total Registrations³	3,607,702		3,908,906		(7.7)	%
Avg. Paying Subs⁴	896,344		924,181		(3.0)	%
Monthly ARPU⁵	$	20.97	$	20.80	0.8	%

Investor Conference Call

Spark Networks will discuss its financial results during a live teleconference today at 10:00 a.m. Eastern time.

Toll-Free (United States):          1-877-705-6003
Toll-Free (Germany):               0-800-182-0040
International:                             1-201-493-6725

In addition, Spark Networks will host a webcast of the call which will be accessible in the Investor Relations section of the Company’s website at https://investor.spark.net/investor-relations/home

A replay will begin approximately three hours after completion of the call and run until May 31, 2021.

Replay
Toll-Free (United States):          1-844-512-2921
International:                              1-412-317-6671
Passcode:                                  13719604

Safe Harbor Statement:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, statements involving known and unknown risks, uncertainties, and other factors that may cause Spark Networks’ performance or achievements to be materially different from those of any expected future results, performance, or achievements. These statements include statements regarding Spark Networks’ setting of a strong foundation for topline growth, Spark Networks being on track to launch livestreaming on Zoosk and complete the rollout of compelling new aesthetics for Spark Networks’ top brands in Q3, Spark Networks’ belief that such innovations combined with additional future social features should lead to higher user engagement across Spark Networks’ properties, and Spark Networks’ financial outlook for Second Quarter revenue and Adjusted EBITDA.

Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as “believes,” “hopes,” “intends,” “estimates,” “expects,” “projects,” “plans,” “anticipates,” and variations thereof, or the use of future tense, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially, including, but not limited to, the risk that the benefits from the acquisition of Zoosk, Inc. may not be fully realized or may take longer to realize than expected; risks related to the degree of competition in the markets in which Spark Networks operates; risks related to the ability of Spark Networks to retain and hire key personnel, operating results and business generally; the timing and market acceptance of new products introduced by Spark Networks’ competitors; Spark Networks’ ability to identify potential acquisitions; Spark Networks’ ability to comply with new and evolving regulations relating to data protection and data privacy; general competition and price measures in the market place; risks related to the duration and severity of COVID-19 and its impact on Spark Networks’ business; and general economic conditions. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” in Spark Networks’ Annual Report on Form 10-K for the year ended December 31, 2020 and in other sections of Spark Networks’ filings with the Securities and Exchange Commission (“SEC”), and in Spark Networks’ other current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward-looking statement except as required by law.

About Spark Networks SE:

Spark Networks SE is a leading global dating company, listed on the New York Stock Exchange American under the ticker symbol “LOV,” with headquarters in Berlin, Germany, and offices in New York and Utah. The Company’s widening portfolio of premium and freemium dating apps include Zoosk, EliteSingles, SilverSingles, Christian Mingle, Jdate, and JSwipe, among others. Spark Networks SE in its current form is the result of the merger between Affinitas GmbH and Spark Networks, Inc. in 2017 and the addition of Zoosk, Inc. in 2019. Spark has approximately one million monthly paying subscribers globally.

For More Information

Investors:
Christopher Camarra
Vice President of Investor Relations
[email protected]

¹ Contribution is defined as revenue, net of refunds and credit card chargebacks, less direct marketing. Direct Marketing is defined as online and offline advertising spend, and is included within Cost of revenue, exclusive of depreciation and amortization within Spark Networks’ Condensed Consolidated Statements of Operations and Comprehensive Loss.

² Adjusted EBITDA is one of the primary metrics by which we evaluate the performance of our business, budget, forecast and compensate management. We believe this measure provides management and investors with a consistent view, period to period, of the core earnings generated from the ongoing operations and excludes the impact of items that we do not consider representative of our ongoing performance. This includes: depreciation and amortization, share-based compensation, asset impairments, gains or losses on foreign currency transactions and net interest expense, acquisition related costs and other costs. Adjusted EBITDA has inherent limitations in evaluating the performance of the Company, including, but not limited to the following:

Adjusted EBITDA does not reflect the cash capital expenditures during the measurement period;
Adjusted EBITDA does not reflect any changes in working capital requirements during the measurement period;
Adjusted EBITDA does not reflect the cash tax payments during the measurement period;
Adjusted EBITDA may be calculated differently by other companies in our industry, thus limiting its value as a comparative measure;

Because of these limitations, Adjusted EBITDA should be considered in addition to other financial performance measures, including net income and our other U.S. GAAP results. A reconciliation of the Adjusted EBITDA for the three months ended March 31, 2021 and 2020 can be found in the table below.

Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, share-based compensation, impairment of intangible assets and goodwill, and acquisition or other costs.

Statements regarding our expectations as to the second quarter 2021 Adjusted EBITDA do not include certain charges and costs. The adjustments to EBITDA in future periods are generally expected to be similar to the kinds of charges and costs excluded from Adjusted EBITDA in prior periods, including (i) items such as share-based compensation, asset impairments, gains or losses on foreign currency transactions and interest expense, and (ii) items related to acquisitions or other costs that are non-recurring, infrequent, or unusual in nature including transaction and advisory fees, merger integration costs, other employee payments, and severance. The exclusion of these charges and costs in future periods will have a significant impact on our Adjusted EBITDA. We are not able to provide a reconciliation of our non-GAAP financial guidance to the corresponding GAAP measures without unreasonable effort because of the uncertainty and variability of the nature and amount of these future charges and costs.

³Total registrations are defined as the total number of new members registering to the platforms with their email address. Those include members who enter into premium subscriptions and free memberships.

⁴ Paying subscribers are defined as individuals who have paid a monthly fee for access to premium services, which include, among others, unlimited communication with other registered users, access to user profile pictures and enhanced search functionality. Average paying subscribers for each month are calculated as the sum of the paying subscribers at the beginning and the end of the month, divided by two. Average paying subscribers for periods longer than one month are calculated as the sum of the average paying subscribers for each month, divided by the number of months in such period.

⁵ Monthly Average Revenue Per User, or Monthly ARPU, represents the total net subscriber revenue for the period divided by the number of average paying subscribers for the period, divided by the number of months in the period.

Spark Networks SE
Condensed Consolidated Balance Sheets
(in thousands, except share data)
	March 31, 2021		December 31, 2020
Assets
Current assets:
Cash and cash equivalents	$	17,258	$	19,267
Accounts receivable, net of allowance of $441 and $93, respectively	8,613		5,507
Prepaid expenses	5,129		4,366
Other current assets	505		2,140
Total current assets	31,505		31,280
Property and equipment, net of accumulated depreciation of $6,241 and $6,252, respectively	10,802		11,418
Goodwill	156,552		156,582
Intangible assets, net of accumulated amortization of $21,043 and $21,768, respectively	57,295		58,999
Deferred tax assets	20,754		23,522
Other assets	8,164		8,642
Total assets	$	285,072	$	290,443
Liabilities and Shareholders’ Equity
Current liabilities:
Current portion of long-term debt	$	19,373	$	19,037
Accounts payable	12,241		11,127
Deferred revenue	40,017		38,304
Accrued expenses and other current liabilities	26,742		28,429
Total current liabilities	98,373		96,897
Long-term debt, net of current portion	76,701		80,109
Deferred tax liabilities	950		993
Other liabilities	17,259		17,541
Total liabilities	193,283		195,540
Contingencies (Note 6)
Shareholders’ Equity:
Common stock, €1.00 nominal value; 2,661,386 shares issued as of March 31, 2021 and December 31, 2020; 2,605,689 shares outstanding as of March 31, 2021 and December 31, 2020	3,064		3,064
Treasury stock, at nominal value; 55,697 shares as of March 31, 2021 and December 31, 2020	(61)		(61)
Additional paid-in capital	221,888		220,852
Accumulated deficit	(138,752)		(132,248)
Accumulated other comprehensive income	5,650		3,296
Total shareholders’ equity	91,789		94,903
Total liabilities and shareholders’ equity	$	285,072	$	290,443

Spark Networks SE
Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except share and per share data)

	Three Months Ended March 31,
	2021		2020
Revenue	$	56,379	$	57,657
Operating costs and expenses:
Cost of revenue, exclusive of depreciation and amortization	36,918		36,541
Sales and marketing expenses	833		879
Customer service expenses	1,770		2,040
Technical operations and development expenses	4,455		5,380
General and administrative expenses	9,093		7,184
Depreciation and amortization	2,290		2,321
Total operating costs and expenses	55,359		54,345
Operating income	1,020		3,312
Other income (expense):
Interest income	—		31
Interest expense	(3,440)		(3,376)
Loss on foreign currency transactions	(1,728)		(952)
Other income (expense)	(16)		—
Total other expense	(5,184)		(4,297)
Loss before income taxes	(4,164)		(985)
Income tax expense	(2,340)		(2,844)
Net loss	(6,504)		(3,829)
Other comprehensive income (loss):
Foreign currency translation adjustment	2,354		1,218
Comprehensive loss	$	(4,150)	$	(2,611)

Loss per share:
Basic earnings (loss) per share	$	(2.50)	$	(1.47)
Diluted earnings (loss) per share	$	(2.50)	$	(1.47)

Weighted average shares outstanding:
Basic	2,605,689		2,605,689
Diluted	2,605,689		2,605,689

Reconciliation of Net Loss to Adjusted EBITDA:
	Three Months Ended March 31,
(in thousands)	2021		2020
Net loss	$	(6,504)	$	(3,829)
Net interest expense	3,440		3,345
Loss on foreign currency transactions	1,728		952
Income tax expense	2,340		2,844
Depreciation and amortization	2,290		2,321
Stock-based compensation expense	1,036		910
Acquisition related costs⁽¹⁾	—		791
Other costs⁽²⁾	472		128
Adjusted EBITDA	$	4,802	$	7,462

⁽¹⁾Acquisition related costs primarily consist of transaction costs, including legal, consulting, advisory fees, and severance and retention costs.
⁽²⁾ Includes primarily consulting and advisory fees related to special projects, as well as post-merger integration activities and long-term debt transaction and advisory fees.

Spark Networks SE
Condensed Consolidated Statements of Cash Flows
(in thousands)
					Three Months Ended March 31,
					2021		2020
Net loss					$	(6,504)	$	(3,829)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization					2,290		2,321
Unrealized loss on foreign currency transactions					340		13
Stock-based compensation expense					1,036		910
Amortization of debt issuance costs and accretion of debt discounts					916		795
Deferred tax expense					2,340		2,844
Provision for credit losses					95		31
Non-cash lease expense					470		475
Change in operating assets and liabilities:
Accounts receivable					(3,328)		(3,589)
Prepaid expenses and other current assets					(2,095)		(737)
Other assets					(33)		35
Accounts payable, accrued expenses, and other current liabilities					1,533		(3,300)
Other liabilities					(93)		(472)
Deferred revenue					2,646		191
Net cash used in operating activities					(387)		(4,312)
Capital expenditures					(423)		(197)
Acquisitions of businesses, net of cash acquired					—		(513)
Net cash used in investing activities					(423)		(710)
Repayment of bank loans					(3,163)		(2,984)
Payments directly related to loan facility					(523)		—
Net cash used in financing activities					(3,686)		(2,984)

Net change in cash and cash equivalents and restricted cash					(4,496)		(8,006)
Effects of exchange rate fluctuations on cash and cash equivalents and restricted cash					781		354
Net decrease in cash and cash equivalents and restricted cash					(3,715)		(7,652)
Cash and cash equivalents and restricted cash at beginning of period					21,117		17,457
Cash and cash equivalents and restricted cash at end of period					17,402		9,805

Supplemental disclosure of cash flow information:
Cash paid for interest					2,497		2,892

Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets	Mar-21		Dec-20		Mar-20		Dec-19
Cash and cash equivalents	$	17,258	$	19,267	$	9,659	$	17,207
Restricted cash included in other current assets	144		1,850		146		250
Total cash and cash equivalents and restricted cash as shown on the consolidated statements of cash flows	$	17,402	$	21,117	$	9,805	$	17,457

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SOURCE Spark Networks SE

May 17, 2021 9:05 am

Goodyear And Enovos To Build Luxembourg’s First Large Solar Carport

PR Newswire

COLMAR-BERG, Luxembourg, May 17, 2021 /PRNewswire/ — As part of its commitment to reduce CO₂ emissions, The Goodyear Tire & Rubber Company (NASDAQ: GT) is working together with energy supplier Enovos to build two large solar power stations at its testing facilities in Colmar-Berg, Luxembourg, which will provide clean energy for Luxembourg citizens.

The first power station will be a photovoltaic carport consisting of 1 500 solar panels, covering a parking lot of around 4 000 m². With an annual production of 657.500 kWh, the carport will be the first in Luxembourg of this scale and will generate enough energy to supply a number of households.

Completion of the first station is targeted for August 2021 while plans for the second power stations are targeted for 2022.

When finished, both stations will produce annually around 5 GWh of electric power and reduce carbon emissions by around 50.000 tons for the next 20 years, while providing clean energy yearly for more than 1,200 households.

“Thanks to this project we will produce local green and carbon-free energy for Luxembourgish citizens, “said Xavier Fraipont, Goodyear’s Vice President for Product Development in Europe Middle East and Africa. “We are pleased to help the Luxembourgish government in its goal to the switch to 100% renewable energies.”

Erik von Scholz, CEO of Enovos Luxembourg added: “Enovos in close collaboration with our industrial partners strive to progress swiftly the implementation of renewable energies and thus the decarbonization of the energy sector. Enovos’ ambitions are enabled by its expertise to develop and put in action renewable energy sourced solution. This joint project illustrates our continuous commitment to drive the energy transition in the Greater Region.”

“Solar energy is the energy of the future, and the latest figures are a clear proof that more and more residents and companies are embracing it: the production of photovoltaic power plants is constantly increasing. I am therefore very pleased that Goodyear, an industrial actor of the north of the country, is joining this development and consequently helps to convince even more players that photovoltaic energy is not only beneficial for the climate, but also for the economy” said the Minister for Energy, Claude Turmes.

About The Goodyear Tire & Rubber Company

Goodyear is one of the world’s largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

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SOURCE The Goodyear Tire & Rubber Company

May 17, 2021 9:05 am

Euronet Worldwide’s division, epay, becomes global partner for value-added digital services of fintech Revolut

Thanks to an integration of its well-known gift card and prepaid portfolio, epay supports Revolut – a fintech app currently boasting 15 million customers worldwide – in its global expansion into 36 countries and opens up a new digital and mobile sales channel for its brand partner network.

LEAWOOD, Kan., May 17, 2021 (GLOBE NEWSWIRE) — epay, a business segment of Euronet Worldwide, Inc. (NASDAQ:EEFT), is now the global partner for digital gift card and prepaid products for the UK’s leading fintech app, Revolut. The new partnership between Revolut and the full-service payment provider epay will span across 36 countries via an API integration into Revolut’s three apps (Consumer, Business and Junior). Launching in April 2021, epay began providing Revolut customers across these countries with access to an abundance of well-known digital content at both a global and local level across food, entertainment, lifestyle, gaming, health and wellness, home office and office categories from brands such as Twitch, Ikea, Nintendo, and Spotify Premium. With this access, Revolut customers have the ability to buy, gift and be rewarded with gift cards and digital content easily and seamlessly all without ever having to leave their Revolut app. In addition to the phase 1 countries launched in April (includes the UK and much of Europe), other countries and core markets will quickly follow in the coming months such as the United States and Australia as well as an expansion of the Business app roll out which will primarily begin in the UK.

Worldwide expansion of Revolut with a cross-category marketplace

Until now, there has been no fintech app with a cross-category marketplace, making Revolut the first fintech provider in the world to offer these attractive value-added services to its customers on such a broad scale. This supports the company’s mission, which is to offer the world’s first truly global “one-stop financial app” with a range of benefits for all consumers. Additional digital services such as being able to buy and send gift cards and prepaid products from users’ favorite brands direct from the app further serves this mission as well as helping to attract new customer groups to the app meaning a higher degree of mobile application use and increased customer benefit and retention.

“Our customers are primarily millennials and digital natives who expect a financial app to offer attractive additional services as well as a perfect user experience—we enable both of these with epay’s flexible API integration,” explains Maisum Dairkee, Product Owner at Revolut. “epay’s API integration not only provides access to a broad range of scalable content to meet all customer needs at both a local and global level, but it also serves to provide a perfect and seamless customer experience without ever having to leave the app.”

Partnership with vision and potential

The partnership will quickly expand. In addition to the 36 countries currently planned, epay’s value added services will form part of the standard Revolut proposition for every other international launch of Revolut in the future. The existing categories will also be further expanded. For example, popular categories of wellness, beauty, health, fitness, and fashion are on the radar of both companies and are valued as core categories for future growth.

The relationship with Revolut is a groundbreaking partnership for epay.

“Our technical solution and processes allow us to provide Revolut with value-added services through a single API as a full-service payment provider,” said Kevin Caponecchi, Executive VP and CEO, epay, Software and EFT Asia Pacific Division. “This means we go beyond the classic role of a gift card provider and instead become more of an infrastructure partner for a worldwide roll-out. We want to help fintechs like Revolut provide their customers with the exact content they expect or have always wanted. We are also showing our 2000 + existing gift card and prepaid portfolio of brand partners, new ways of connecting with their customers by opening up new digital and mobile sales channels such as Revolut.”

Interested brands please contact their existing epay contact or [email protected]

About Revolut

Revolut are building the world’s first truly global financial superapp. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, our 15 million customers around the world use dozens of Revolut’s innovative products to make more than 100 million transactions a month.

Across our personal and business accounts, we help customers improve their financial health, give them more control, and connect people seamlessly across the world.
www.revolut.com

About epay:

epay is a world-leading full-service payment provider for payment processing and prepaid solutions that processed 2.4 billion transactions in 2020. The company has built up an extensive network of retailers with 736,000 point-of-sale terminals in 60 countries, to connect renowned brands with consumers all around the world. The company offers a portfolio of gift cards (prepaid, closed loop and digital media), business incentives and payment solutions (card acceptance, terminals, e-commerce, mobile and Internet of Payment) for omnichannel commerce, and offers its services thanks to its proprietary cash register integration software. epay is a segment of Euronet Worldwide, Inc. (NASDAQ: EEFT), a Kansas-based company which earned $2.5 billion in revenue in 2020, employing a staff of over 8,000 employees and serving customers in 175 countries.

About Euronet Worldwide, Inc.

Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of digital media and prepaid mobile phone time.

Euronet’s global payment network is extensive – including 36,777 ATMs, approximately 349,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 61 countries; card software solutions; a prepaid processing network of approximately 736,000 POS terminals at approximately 345,000 retailer locations in 60 countries; and a global money transfer network of approximately 475,000 locations serving 159 countries. With corporate headquarters in Leawood, Kansas, USA, and 66 worldwide offices, Euronet serves clients in approximately 175 countries. For more information, please visit the Company’s website at www.euronetworldwide.com.

Press Contact:
Stephanie Taylor
Director of Financial Planning and Investor Relations Euronet Worldwide, Inc.
+1-913-327-4200
[email protected]

Press Contact Revolut
Kiran Wylie, Senior Communications Manager | [email protected] | [email protected]

May 17, 2021 9:05 am

Galaxy Gaming Reports Q1 2021 and Financial Results

LAS VEGAS, May 17, 2021 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTCQB: GLXZ), a developer and distributor of casino table games and enhanced systems for land-based casinos and iGaming operators, announced today its financial results for the quarter ended March 31, 2021.

Financial Highlights

Q1 2021 vs. Q1 2020

Revenue decreased 4.7% to $4,283K
Adjusted EBITDA increased 12.8% to $1,692K¹
Net income of $89K vs. net income of $117K

Balance Sheet Changes (vs. December 31, 2020)

Cash increased 1.5% to $6,081K
Total long-term liabilities (gross) decreased $569K to $51,483K
Stockholders’ deficit decreased to $(24,460)K

Executive Comments

“The COVID pandemic continued to affect our business in Q1,” stated Todd Cravens, Galaxy’s President and CEO. “Casinos in the UK, our largest brick-and-mortar market, were shuttered for the entire quarter, and we continued to see capacity limitations in other important markets. However, as was the case in Q4 2020, our iGaming business made up most of the difference. iGaming went live in Michigan in February, and volumes were very strong. We expect additional increases in activity when our live dealer clients open up there. In addition to iGaming, new installations of our games and progressives in new markets continue to add to the top line.”

Cravens added, “I am happy to see progress in Q1, and am looking forward to getting all our customers up and going, as well as bringing new clients into the Galaxy.”

“Despite the continued effects of COVID, we managed to make modest headway in Q1,” said Harry Hagerty, the Company’s CFO. “While revenue was slightly down versus Q1 of 2020, Adjusted EBITDA was up and we had positive cash flow. We are hopeful that COVID-related closures and limitations continue to recede through the remainder of 2021, allowing us to have normalized results in both the brick-and-mortar and online channels in 2022.”

Forward-Looking Statements

Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Galaxy cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including those listed from time to time in reports that Galaxy files with the Securities and Exchange Commission.

Non-GAAP Financial Information

Adjusted EBITDA includes adjustments to net income to exclude interest, income taxes, depreciation, amortization, share based compensation, foreign currency exchange loss, change in estimated fair value of interest rate swap liability and severance and other expenses related to litigation. Adjusted EBITDA is not a measure of performance defined in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). However, adjusted EBITDA is used by management to evaluate our operating performance. Management believes that disclosure of the Adjusted EBITDA metric offers investors, regulators and other stakeholders a view of our operations in the same manner management evaluates our performance. When combined with U.S. GAAP results, management believes Adjusted EBITDA provides a comprehensive understanding of our financial results. Adjusted EBITDA should not be considered as an alternative to net income or to net cash provided by operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating our performance.

About Galaxy Gaming

Headquartered in Las Vegas, Nevada, Galaxy Gaming (galaxygaming.com) develops and distributes innovative games, bonusing systems, and technology solutions to physical and online casinos worldwide. Galaxy Gaming offers games that are proven to perform developed by gaming experts and backed by the highest level of customer support. Through its subsidiary, Progressive Games Partners, Galaxy Gaming is the world’s leading licensor of proprietary table games to the online gaming industry. Connect with Galaxy Gaming on Facebook, YouTube, Instagram, and Twitter.

Contact:

Media:	Phylicia Middleton (702) 936-5216
Investors:	Harry Hagerty (702) 938-1740

________________________
¹ See the related 10-Q for a reconciliation of Net Income to Adjusted EBITDA.

May 17, 2021 9:05 am

JJ Ruest, President and Chief Executive Officer and Sean Finn, Executive Vice-President, Corporate Services and Chief Legal Officer to Address the BofA Securities Virtual Transportation, Airlines and Industrials Conference on May 19

MONTREAL, May 17, 2021 (GLOBE NEWSWIRE) — JJ Ruest, President and Chief Executive Officer and Sean Finn, Executive Vice-President, Corporate Services and Chief Legal Officer of CN (TSX: CNR) (NYSE: CNI), will address the BofA Securities Virtual Transportation, Airlines and Industrials Conference on May 19, 2021 at 10:40 a.m. Eastern Time (ET).

CN will provide a live audio webcast via the Investors section of its website at www.cn.ca/investors. A replay of the webcast will be available following the event.

About CN

CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.

Contacts:

*Media*	*Investment Community*
Mathieu Gaudreault	Paul Butcher
Senior Advisor	Vice-President
Media Relations	Investor Relations
1-833-946-3342 [email protected]	(514) 399-0052 [email protected]

May 17, 2021 9:05 am

SurveyMonkey to Present at Upcoming Investor Conferences and Host Investor Education Webinar Series

SAN MATEO, Calif., May 17, 2021 (GLOBE NEWSWIRE) — SurveyMonkey (NASDAQ: SVMK), a leader in agile software solutions for customer experience, market research, and survey feedback, today announced senior management will present to the investment community and host individual and small group meetings at upcoming investor conferences.

Additionally, the company announced that senior management will host its third investor education webinar, presenting a demo of GetFeedback, its multichannel customer experience (CX), platform, on Wednesday, May 26, 2021.

Investor Conferences:

Needham 16th Annual Virtual Technology & Media Conference
Date: Tuesday, May 18, 2021
*Presentation to be webcast live at 11:45 AM ET/8:45 AM PT

J.P. Morgan 49th Annual Global Technology, Media and Communications Conference
Date: Tuesday, May 25, 2021
*Presentation to be webcast live at 2:55 PM ET/11:55 AM PT

Craig-Hallum Institutional Investor Conference
Date: Wednesday, June 2, 2021
One-on-one and small group investor meetings only

Bank of America 2021 Global Technology Conference
Date: Tuesday, June 8, 2021
*Presentation to be webcast live at 5:30 PM ET/2:30 PM PT

*A live and archived webcast of the presentations will be available on the investor relations section of the SurveyMonkey website, https://investor.surveymonkey.com.

Investor Education Webinar Series:

SurveyMonkey Investor Education Webinar Series: The GetFeedback Platform Demo
When: Wednesday, May 26, 2021 at 4:30 PM ET/1:30 PM PT
Where: To access the live presentation or the video replay, members of the financial community must first register with SurveyMonkey investor relations at [email protected].

About SurveyMonkey

SurveyMonkey is a leader in agile software solutions for customer experience, market research, and survey feedback. The company’s platform empowers more than 20 million active users to analyze and act on feedback from employees, customers, website and app users, and market research respondents. SurveyMonkey’s products, enterprise solutions, and integrations enable more than 345,000 organizations to deliver better customer experiences, increase employee retention, and unlock growth and innovation. Ultimately, SurveyMonkey’s vision is to raise the bar for human experiences by amplifying individual voices.

Investor Relations Contact:

Gary J. Fuges, CFA
SurveyMonkey
[email protected]

Media Contact:

[email protected]

Source: SurveyMonkey Inc.

May 17, 2021 9:05 am

UPDATE: Stratus Introduces Global Program for System Integrators to Develop Edge Computing Competencies and Deployment Expertise

New SI program offers training, certification, accreditation, and eLearning necessary to build successful Edge Computing technology practices

MAYNARD, Mass., May 17, 2021 (GLOBE NEWSWIRE) — Stratus Technologies, a global leader in simplified, protected, autonomous Edge Computing platforms, today launched a new program to enable System Integrators (SIs) to develop Edge Computing competencies and deployment expertise. Through Stratus led training, certification, and accreditation, SIs now have the tools and support to develop Edge Computing technology practices to generate new revenue. The program’s top partnership level, Stratus Endorsed status, allows SIs to implement Stratus Edge Computing platforms using a repeatable and profitable methodology to ensure high-quality solution delivery, and to bundle Stratus Service offerings to provide on-going end user support.

“Edge Computing is a fundamental Industry 4.0 technology that delivers high value and fast payback and represents a tremendous opportunity for System Integrators to support end users,” said Mike Bradshaw, Senior Director, Global Channels and Partner Ecosystem at Stratus. “Less than half of end user organizations have the expertise of how and when to deploy Edge Computing. Additionally, more than 70% of manufacturers therefore look to strategic partners to operationalize solutions. Stratus’ Global System Integrator Program provides the curriculum and accreditation as well as the deployment methodology and service support SIs need to successfully deliver value for their customers at the edge.”

Tim Shope of Avid Solutions said, “Processing and manufacturing end users are increasingly expecting product suppliers and system integrators to go beyond simply meeting their basic automation needs, which demands a wide breadth of knowledge. Due to the increasing volume of edge-generated data and the need for low-latency processing, Edge Computing has become vital. At Avid Solutions, we’re building on a foundation of Stratus Edge Computing platforms to deliver complete automation and IIoT solutions for clients. Stratus platforms combine all the computing characteristics needed for SIs to build a supportable high-performance IIoT edge automation solution.”

Jeff Geiger, Director of Sales and Marketing at Taurus Controls said, “We help our industrial clients move from underperforming traditional technologies to modern, easy-to-manage, and highly available Edge Computing platforms. We find clients who may be apprehensive about new technologies are quickly convinced of the cost-effective benefits of Edge Computing platforms from Stratus. We’ve implemented projects ranging from the plant floor for a soy manufacturer to a biomass steam generator, and clients are seeing massive improvements in the reliability and capability of their operations. SIs working with Stratus are educating end users about the pain points solved by moving away from legacy architectures to modern Edge Computing solutions.”

Stratus Global SI Program for Edge Computing Competency and Practice Development

The Stratus Global Systems Integrator Program is available to join at no cost, and offers partners three levels of certification and accreditation, including access to Not for Resale (NFR) units for testing and development of proof-of-concept (POC) projects. The three Stratus SI tiers are as follows:

Stratus Registered level – Upon qualification, SIs join the Registered level and gain initial access to Stratus tools such as the Stratus Partner Portal, listing in the Partner Locator, and access to discounted demo units.
Stratus Certified level – Registered SIs who complete pre-sales certifications and document examples of Stratus platform implementations gain insight via enhanced listing in the Partner Locator, previews of Stratus’ product roadmap, and other exclusive visibility from Stratus. Additionally, Certified level partners can complete implementation certification and employ Stratus’ proprietary installation methodology to deliver reliability for end users.
Stratus Endorsed level – The leading Stratus Certified SIs are invited to join the Endorsed level based on their success with Stratus and regional Channel Partners. Endorsed level SIs demonstrate multiple project implementations and receive a range of benefits including executive sponsorship and invitation to joint opportunity pursuits.

The Global System Integrator Program develops proficiency, deployment methodology, and service support for Stratus’ three Edge Computing platforms:

Stratus ztC™ Edge – a zero-touch, secure, and highly-automated Edge Computing platform purpose-built for critical equipment and distributed control architectures at the operational edge for continuous availability of critical applications in harsh environments.
Stratus ftServer® – Edge Computing for the control center and local data center to handle heavier workloads and data flow with the highest level of fault tolerance for critical applications and data.
Stratus everRun® – software-only offering that allows teams to easily enable application availability by connecting existing servers and customizing availability up to 99.999% uptime.

For complete detail about the Stratus Global System Integrator Program and to register, visit the Stratus Partner Portal.

Additional Resources

About Stratus

For leaders digitally transforming their operations to drive predictable, peak performance with minimal risk, Stratus ensures the continuous availability of business-critical applications by delivering zero-touch Edge Computing platforms that are simple to deploy and maintain, protected from interruptions and threats, and autonomous. For 40 years, we have provided reliable and redundant zero-touch computing, enabling global Fortune 500 companies and small-to-medium sized businesses to securely and remotely turn data into actionable intelligence at the Edge, cloud and data center – driving uptime and efficiency. For more information, please visit www.stratus.com or follow on Twitter @StratusAlwaysOn and LinkedIn @StratusTechnologies

Press Contacts
DoShik Wood
[email protected]
+1 978-461-706

May 17, 2021 9:05 am

Intertape Polymer Group Announces Intention to Offer $350 Million of Senior Unsecured Notes

MONTREAL and SARASOTA, Fla., May 17, 2021 (GLOBE NEWSWIRE) — Intertape Polymer Group Inc. (TSX:ITP) (“IPG” or “the Company”) announced today its intention to offer $350 million of senior unsecured notes due in 2029 (the “Offering”), subject to market conditions.

The Company intends to use the net proceeds from the Offering to redeem its currently outstanding $250,000,000 7.00% senior unsecured notes which are scheduled to mature on October 15, 2026 (the “Existing Notes”), to repay a portion of the borrowings outstanding under its existing five-year, $600.0 million credit facility and to pay related fees and expenses, as well as for general corporate purposes. The Offering will be made only by means of an offering memorandum, copies of which may be obtained from the Company. The Offering would be effected by way of private placement sales of the notes in the United States and Canada pursuant to exemptions from the registration and prospectus requirements.

The notes will be offered only to qualified institutional buyers in reliance on Rule 144A, under the Securities Act of 1933, as amended, and in offshore transactions pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release is not a notice of redemption with respect to the Existing Notes and shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Intertape Polymer Group Inc.

IPG is a recognized leader in the development, manufacture and sale of a variety of paper and film based pressure-sensitive and water-activated tapes, polyethylene and specialized polyolefin films, protective packaging, engineered coated products and packaging machinery for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota, Florida, the Company employs approximately 3,700 employees with operations in 31 locations, including 21 manufacturing facilities in North America, four in Asia and one in Europe. For information about the Company, visit www.itape.com.

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, “forward-looking statements”), which are made in reliance upon the protections provided by such legislation for forward-looking statements. All statements other than statements of historical facts included in this press release, including statements regarding: our intention to offer notes, the principal amount and maturity date of the notes being offered in such Offering and our use of the net proceeds from the Offering of such notes; may constitute forward-looking statements. These forward-looking statements are based on current beliefs, assumptions, expectations, estimates, forecasts and projections made by IPG’s management. Words such as “may,” “will,” “should,” “expect,” “continue,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe” or “seek” or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although IPG believes that the expectations reflected in these forward-looking statements are reasonable, these statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. These risks and uncertainties include, but are not limited to, our inability, due to market conditions or other reasons, to complete the Offering with the economic terms described above, if at all. IPG can give no assurance that these estimates and expectations will prove to have been correct. Readers are cautioned not to place undue reliance on any forward-looking statement. For additional information regarding important factors that could cause actual results to differ materially from those expressed in these forward-looking statements and other risks and uncertainties, and the assumptions underlying the forward-looking statements, you are encouraged to read “Item 3 Key Information – Risk Factors”, “Item 5 Operating and Financial Review and Prospects (Management’s Discussion & Analysis)” and statements located elsewhere in IPG’s annual report on Form 20-F for the year ended December 31, 2020 and the other statements and factors contained in IPG’s filings with the Canadian securities regulators and the US Securities and Exchange Commission. Each of these forward-looking statements speaks only as of the date of this press release. IPG will not update these statements unless applicable securities laws require it to do so.

FOR FURTHER INFORMATION CONTACT:

Ross Marshall

Investor Relations

(T) (416) 526-1563

(E) [email protected]

May 17, 2021 9:05 am

NorthStar Moving Opens Offices in New Mexico and Texas

Award-winning Moving Company Expands to Serve Santa Fe & Austin Areas

Los Angeles, CA, May 17, 2021 (GLOBE NEWSWIRE) — NorthStar Moving® Company, the leading eco-luxury mover in California, announced today that it has opened new locations in Santa Fe, New Mexico and Austin, Texas.

Owned and operated by the same two co-founders since 1994, Laura McHolm and Ram Katalan have built a company that has moved service back into what should have always been the ultimate service industry: the moving industry. Their new locations offer residents of the Santa Fe and Austin areas the opportunity to experience NorthStar Moving’s custom award-winning: local, long distance, international and commercial moving services.

In 2020, Phoenix and Austin experienced the highest surge of inbound moves in the country. And, Zillow’s experts predict that the two cities’ housing markets will outperform the national market this year.

“We are very excited to open new locations in Santa Fe, New Mexico and Austin, Texas when our services are in such great need,” said NorthStar Moving Company CEO & Co-Founder Ram Katalan. “Both cities are thriving and attracting new residents due to their warm climates and affordability. Our Austin movers and Santa Fe movers will deliver our unparalleled level of customer service and customized care. Whether you want us to do all the packing and unpacking, or you just need a few packing tips to get you started, our expertly trained movers will tailor the services to your needs.”

NorthStar Moving consistently earns an array of accolades, from ten consecutive “Best Places to Work” awards, honors for their green practices and community commitment, to local and national fastest growing company awards. With over 25 years of experience, the company knows moving day is more than just moving belongings, it’s moving a life and family. Whether you’re moving to Austin or Santa Fe, or leaving the area, their expert teams will guide you through the entire moving process and take care of every detail.

About NorthStar Moving

Founded in 1994, Los Angeles-based NorthStar Moving® Company has redefined the moving industry as the first to offer eco-luxury moving services, elevating basic moving and storage services to a new unparalleled level of customer service, customized care and environmental consciousness. Woman-owned, NorthStar Moving has earned more awards for service than any other moving company: “A+” rated by the Better Business Bureau, voted Citysearch “Best Mover,” earned the most five star ratings on Trustlink and Yelp, and recipient of dozens of awards for corporate culture, green practices, community outreach, and growth including ten “Best Places to Work” awards and ranked on the Inc. 5,000 list for seven consecutive years. The company’s local, long distance and international moving, storage services, and eco-luxury packages have been featured in leading magazines including The Robb Report Collection and on multiple home and design television shows. NorthStar Moving has proven the state-of-the-art way to move is with its red carpet service, recommended by Coldwell Banker Concierge, The Franklin Report, MovingInsurance.com and an impressive list of celebrity clientele. NorthStar Moving’s mission is to exceed their clients’ expectations with graceful customer care and to move service back into what should have always been the ultimate service industry: the moving industry. For more information please visit www.NorthStarMoving.com and www.northstarfranchising.com or call (800) 275-7767.

Carrie Callahan
NorthStar Moving Company
8002757767
[email protected]

May 17, 2021 9:05 am

International Land Alliance Appoints Frank Ingrande as President

Real Estate Veteran Joins Company Following
Acquisition of Minority Interest in
Rancho Costa Verde Development

SAN DIEGO, CALIFORNIA, May 17, 2021 (GLOBE NEWSWIRE) — International Land Alliance, Inc. (
OTCQB:ILAL
), (“ILA” or the “Company”), an international land investment and development firm, has appointed Frank Ingrande as President. Mr. Ingrande joins the Company from Rancho Costa Verde Development, LLC (“RCV”), a profitable developer of a 1,100-acre, 1,200-lot master planned community in Baja California. Concurrent with Mr. Ingrande’s appointment, the Company closed a 25% interest investment in RCV, which is located roughly 8 km north of ILA’s Oasis Park Resort, in a combination of cash and stock for a total of $4,000,000.

“I am pleased to announce the appointment of Frank to our senior management team,” said Roberto Valdes, Chairman & Chief Executive Officer of ILA. “His extensive experience in real estate sales and development in the northern Baja California region will prove to be invaluable as we execute on our operating strategy across our properties. Additionally, by closing on the ownership position in RCV we will have access to expanded sales and marketing resources, while the profitable development serves as an exceptional complement to our real estate portfolio.”

“Given my tenured experience in Baja California’s residential real estate industry, I am well-acquainted with the ILA team and am impressed with the portfolio they have built,” said Frank Ingrande, President of ILA. “Over the last two decades, the RCV team, including myself and co-partners Robert Rios and Michael Cresci, has built a deep network of affiliates throughout California and Baja by selling over $500 million of residential assets. I look forward to working closely with Roberto, Jason, and the ILA team to serve the flourishing demand in the region for luxury homes equipped with cutting-edge, sustainable technology.”

Mr. Ingrande currently serves as President of Rancho Costa Verde Development, LLC, which he co-founded in 2008. He holds a BBA in Finance and an MBA with an emphasis in new venture management & international business from the University of San Diego.

Rancho Costa Verde is a 1,100 acre master planned second home, retirement home, and vacation home real estate community located on the east coast of Baja California, Mexico. It is just south of the small fishing village of San Felipe which is home to over 6,000 retired US citizens. Rancho Costa Verde is a self-sustained solar powered green community that takes advantage of the advances in solar and other green technology. The beachfront location, close proximity to the mountains, and natural topography at Rancho Costa Verde has created breathtaking 180-degree sea and mountain views from almost every home. Rancho Costa Verde offers 1/4-acre home sites starting as low as $22,500 and custom home construction from $82 per square foot.

For more information on RCV, please visit www.ranchocostaverde.com.

About International Land Alliance, Inc.:

International Land Alliance, Inc. (OTCQB:ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.

Safe Harbor Statement

The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.

CONTACT:

Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
[email protected]
www.mzgroup.us