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Thermo Fisher Scientific to Present at the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10, 2021

PR Newswire

WALTHAM, Mass., June 8, 2021 /PRNewswire/ — Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, announced that Marc N. Casper, chairman, president and chief executive officer, will present virtually at the Goldman Sachs 42nd Annual Global Healthcare Conference on Thursday, June 10, 2021 at 9:40 a.m. (EDT).

You can access the webcast of the presentation via the Investors section of our website, www.thermofisher.com.

About Thermo Fisher Scientific 

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue exceeding $30 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics and therapies or increasing productivity in their laboratories, we are here to support them. Our global team of more than 80,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon. For more information, please visit www.thermofisher.com.

Media Contact Information:
Ron O’Brien
Phone: 781-622-1242
E-mail: [email protected]
Website: www.thermofisher.com

Investor Contact Information:
Rafael Tejada
Phone: 781-622-1356
E-mail: [email protected]

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SOURCE Thermo Fisher Scientific

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Oil-Dri Announces Third Quarter and First Nine-Months of Fiscal 2021

CHICAGO, June 08, 2021 (GLOBE NEWSWIRE) — Oil-Dri Corporation of America (NYSE: ODC), producer and marketer of sorbent mineral products, today announced results for its third quarter and first nine-months of fiscal year 2021.

  Third Quarter Year to Date
(in thousands, except per share amounts) Ended April 30 Ended April 30
    2021   2020 Change   2021   2020 Change
Consolidated Results    
Net Sales $76,255 $76,256 — % $226,852 $218,383 4 %
Net Income Attributable to Oil-Dri $2,227 $4,648 (52) % $10,510 $13,014 (19) %
Earnings per Common Diluted Share $0.32 $0.65 (51) % $1.49 $1.82 (18) %
Business to Business    
Net Sales $26,293 $26,683 (1) % $80,098 $77,632 3 %
Segment Operating Income $7,146 $8,198 (13) % $23,005 $24,046 (4) %
Retail and Wholesale    
Net Sales $49,962 $49,573 1 % $146,754 $140,751 4 %
Segment Operating Income $2,898 $6,412 (55) % $11,487 $15,380 (25) %

Daniel S. Jaffee, President and Chief Executive Officer, stated, “The third quarter posed a few challenges for Oil-Dri, as we were up against last year’s record quarter of consolidated net sales and experienced significant cost increases while continuing to spend on strategic initiatives. Consolidated net sales for the third quarter of fiscal 2021 were flat, as revenues in the same period last year included substantial pantry loading of our cat litter products due to COVID-19. However, our industrial and sports businesses began to rebound from the pandemic, and we experienced steady growth of our agricultural and animal health products. Unfortunately, these gains were outweighed by significantly higher commodity, freight and other manufacturing costs which reduced our gross margins. We implemented price increases to offset these costs, but many of our customers require 60 to 90 days’ notice for price adjustments. So while the cost increases hit the third quarter, most of the price increases will not take effect until the fourth quarter of fiscal 2021. Since costs continue to rise, we anticipate implementing additional price increases in the coming months. We continued to invest in sales and marketing programs in order to promote the benefits of our mineral based products. Although we faced a few headwinds in the third quarter, we remain dedicated to profitability enhancement and are focused on driving future growth.”

Consolidated Results

Consolidated net sales for the third quarter of fiscal 2021 reached $76.3 million, essentially flat compared to the prior year. Although demand for cat litter remained high, we did not surpass third quarter fiscal 2020 revenues resulting from a surge in pantry loading across both e-commerce and traditional channels. Sales from industrial, sports, agricultural and animal health products increased in the third quarter over the prior year, while demand for bleaching clay and co-packaged coarse cat litter was down. Consolidated gross profit decreased by approximately $4.9 million, as margins were reduced to 22% in the third quarter of fiscal 2021 from 28% in the same period last year. This decline can be attributed to a 14% increase in cost of goods sold per manufactured ton, driven by higher freight, packaging, materials, natural gas, and non-fuel manufacturing costs. Domestic trucking supply constraints and elevated fuel costs resulted in a 28% increase in freight costs per manufactured ton compared to the same period last year. A 19% increase in packaging costs per manufactured ton due to higher resin prices also contributed to the reduction in margin. Natural gas and material costs per manufactured ton increased by 11% and 9%, respectively, in the third quarter over the prior year. Total selling, general and administrative (“SG&A”) expenses for the third quarter were approximately $1.1 million lower than the prior year, or a 7% decrease. Increased advertising and marketing expenditures were offset by reduced travel, bad debt expense and lower estimated annual incentive bonus accrual for fiscal year 2021 compared to fiscal year 2020. Our Effective Tax Rate (“ETR”) in the third quarter was (1)% compared to 17% in the same period of the prior year. This reduction reflects a decrease in our expected annual taxable income as well as certain employment related credits of which we were able to take advantage. In addition, we were able to claim a tax deduction for foreign-derived income which further reduced the ETR. Net income attributed to Oil-Dri was $2.2 million in the third quarter which represents a 52% decrease from the prior year.

Our balance sheet remains strong with cash and cash equivalents of $30 million and approximately $10 million of debt. During the third quarter of fiscal year 2021, we repurchased 21,159 shares of common stock, with a total value of $736,000.

Products Group Review

The Business to Business (“B2B”) Products Group’s third quarter revenues decreased 1% from the prior year to $26.3 million. Higher demand of agricultural and animal health products was offset by decreases in co-packaging coarse cat litter and bleaching clay sales. Agricultural product revenues rose 7% in the third quarter compared to last year, primarily resulting from increased sales to existing customers. Sales of animal feed additives increased 3% in the third quarter versus the prior year. These gains were due to higher demand within Asia and Latin America but were offset by lower revenues within China. Decreased demand within China was due to the shift in timing of the Chinese New Year from the second quarter in fiscal 2020 to the third quarter in fiscal 2021 when many businesses temporarily shut down in observance of the holiday. Third quarter sales of our bleaching clay and fluids purification products declined by 3% from the prior year. Although revenue decreases were concentrated within Europe, North America and Asia, we experienced sales growth within Latin America. Timing of orders, improved crop conditions and negative impacts due to the pandemic have contributed to the overall decrease in demand of these specialty products. COVID-19 continues to impact this business as many edible oil manufacturing plants have delayed plant tests or have unused product on hand due to lower production. The pandemic has also negatively affected sales of our Ultra-Clear products used for jet fuel processing, as fewer people are traveling by air. Sales from our co-packaged coarse cat litter business decreased 15% in the third quarter as revenues in the same period last year included substantial pantry loading due to the pandemic.

Operating income in the B2B Products Group was $7.1 million in the third quarter, a 13% decrease from the prior year. This decline was a result of lower sales and significant increases in freight, packaging, materials, natural gas, non-fuel manufacturing costs. Third quarter SG&A expenses were flat compared to the prior year. We continued to invest in our animal health business which resulted in higher costs due to increased sales personnel, leadership, and marketing of our animal feed additives. However, these investments were offset by lower travel and bad debt expenses.

The Retail and Wholesale (“R&W”) Products Group’s third quarter revenues reached a record $50 million, a 1% increase over the prior year. A 20% increase in sales from our industrial and sports products drove much of this growth, as commercial businesses are recovering from the pandemic and many sports fields have reopened. Although we continued to experience the positive impact of increased pet adoption resulting from COVID-19 and the overall macro trend of higher spending on pets, net sales of our cat litter decreased in the third quarter compared to the prior year. Last year’s third quarter sales included unprecedented pantry loading in response to state mandated shelter-in-place orders due to COVID-19. However, Oil-Dri’s total cat litter revenues for the third quarter of fiscal year 2021 exceeded all pre-pandemic quarterly net sales results, exemplifying our continued growth despite the normalization of market conditions. Part of the overall R&W Products Group’s revenue improvement in the third quarter of fiscal 2021 can be attributed to strong top line growth from our Canadian subsidiary where we experienced higher demand of industrial absorbent products and cat litter.

Operating income for the R&W Products Group was $2.9 million in the third quarter, a 55% decrease from the prior year. Lower sales and significant increases in freight, packaging, materials, natural gas, and non-fuel manufacturing costs were partially offset by a 5% reduction in SG&A costs. Reduced spending on travel and bad debt expense contributed to the SG&A decrease while advertising spending increased 4%, as we continued to pursue additional share gains with our digital marketing plan. We expect total advertising expenses in fiscal year 2021 to be lower than fiscal year 2020 spending levels.

The Company will host its third quarter of fiscal 2021 earnings teleconference on Wednesday, June 9, 2021 at 9:00 a.m. Central Time. Participation details are available on the company’s website’s Events page.

Oil-Dri Corporation of America is a leading manufacturer and supplier of specialty sorbent products for the pet care, animal health and nutrition, fluids purification, agricultural ingredients, sports field, industrial and automotive markets. Oil-Dri is vertically integrated which enables the company to efficiently oversee every step of the process from research and development to supply chain to marketing and sales. With 80 years of experience, the company continues to fulfill its mission to Create Value from Sorbent Minerals.

“Oil-Dri” and “Ultra-Clear” are registered trademarks of Oil-Dri Corporation of America.

Certain statements in this press release may contain forward-looking statements that are based on our current expectations, estimates, forecasts and projections about our future performance, our business, our beliefs, and our management’s assumptions. In addition, we, or others on our behalf, may make forward-looking statements in other press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls, and conference calls. Words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “assume,” or variations of such words and similar expressions are intended to identify such forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially including, but not limited to, the dependence of our future growth and financial performance on successful new product introductions, intense competition in our markets, volatility of our quarterly results, risks associated with acquisitions, our dependence on a limited number of customers for a large portion of our net sales and other risks, uncertainties and assumptions that are described in Item 1A (Risk Factors) of our most recent Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission. Should one or more of these or other risks or uncertainties materialize, or should underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, intended, expected, believed, estimated, projected or planned. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this press release, whether as a result of new information, future events, changes in assumptions, or otherwise.

Category: Earnings

Contact:
Leslie A. Garber
Manager of Investor Relations
Oil-Dri Corporation of America
[email protected]
(312) 321-1515

CONSOLIDATED STATEMENTS OF INCOME        
(in thousands, except per share amounts)   
(unaudited)  Third Quarter Ended April 30
   2021   % of Sales   2020   % of Sales
Net Sales  $ 76,255       100.0  %   $ 76,256       100.0  %
Cost of Sales  (59,732 )     (78.3 )%   (54,871 )     (72.0 )%
Gross Profit  16,523       21.7  %   21,385       28.0  %
Selling, General and Administrative Expenses  (14,592 )     (19.1 )%   (15,685 )     (20.6 )%
Operating Income  1,931       2.5  %   5,700       7.5  %
Interest Expense  (186 )     (0.2 )%   (108 )     (0.1 )%
Other Income  417       0.5  %   5       —  %
Income Before Income Taxes  2,162       2.8  %   5,597       7.3  %
Income Tax Benefit (Expense)  24       —  %   (947 )     (1.2 )%
Net Income  2,186       2.9  %   4,650       6.1  %
Net (Loss) Income Attributable to Noncontrolling Interest  (41 )     (0.1 )%   2       —  %
Net Income Attributable to Oil-Dri  $ 2,227       2.9  %   $ 4,648       6.1  %
                
Net Income Per Share (1):  Basic Common $ 0.32           $ 0.66        
  Basic Class B Common $ 0.24           $ 0.50        
  Diluted Common $ 0.32           $ 0.65        
  Diluted Class B Common $ 0.24           $ 0.49        
Avg Shares Outstanding:  Basic Common 5,133           5,126        
  Basic Class B Common 1,925           2,036        
  Diluted Common 5,242           5,224        
  Diluted Class B Common 1,965           2,064        
                 
(1) Our Form 10-Q for the three months ended April 30, 2021 and 2020 reflects a change in presentation for net income per share. We have historically disclosed net income per share for our diluted Common and Class B Common shares in total. As we have two classes of common shares, we have elected to change our net income per share presentation to reflect net income per share for both of our classes of common shares – our diluted Common shares and our diluted Class B Common shares.
        
        
CONSOLIDATED STATEMENTS OF INCOME        
(in thousands, except per share amounts)   
(unaudited)  Nine Months Ended April 30,
   2021   % of Sales   2020   % of Sales
Net Sales  $ 226,852       100.0  %   $ 218,383       100.0  %
Cost of Sales   (171,853 )     (75.8 )%   (158,105 )     (72.4 )%
Gross Profit  54,999       24.2  %   60,278       27.6  %
Selling, General and Administrative Expenses  (43,647 )     (19.2 )%   (44,584 )     (20.4 )%
Operating Income  11,352       5.0  %   15,694       7.2  %
Interest Expense  (542 )     (0.2 )%   (314 )     (0.1 )%
Other Income  1,264       0.6  %   52       —  %
Income Before Income Taxes  12,074       5.3  %   15,432       7.1  %
Income Tax Expense  (1,651 )     (0.7 )%   (2,573 )     (1.2 )%
Net Income  10,423       4.6  %   12,859       5.9  %
Net Loss Attributable to Noncontrolling Interest  (87 )     —  %   (155 )     (0.1 )%
Net Income Attributable to Oil-Dri  $ 10,510       4.6  %   $ 13,014       6.0  %
                
Net Income Per Share (1):  Basic Common $ 1.52           $ 1.85        
  Basic Class B Common $ 1.14           $ 1.39        
  Diluted Common $ 1.49           $ 1.82        
  Diluted Class B Common $ 1.11           $ 1.37        
Avg Shares Outstanding:  Basic Common 5,144           5,152        
  Basic Class B Common 1,928           2,042        
  Diluted Common 5,256           5,243        
  Diluted Class B Common 1,969           2,067        
                         
(1) Our Form 10-Q for the nine months ended April 30, 2021 and 2020 reflects a change in presentation for net income per share. We have historically disclosed net income per share for our diluted Common and Class B Common shares in total. As we have two classes of common shares, we have elected to change our net income per share presentation to reflect net income per share for both of our classes of common shares – our diluted Common shares and our diluted Class B Common shares.

CONSOLIDATED BALANCE SHEETS        
(in thousands, except per share amounts)        
(unaudited)        
         
    As of April 30
    2021   2020
Current Assets        
Cash and Cash Equivalents   $ 30,318     $ 20,548  
Accounts Receivable, Net   39,088     41,846  
Inventories   23,584     24,096  
Prepaid Expenses and Other Assets   10,880     7,623  
Total Current Assets   103,870     94,113  
Property, Plant and Equipment, Net   91,198     90,133  
Other Noncurrent Assets   34,566     31,735  
Total Assets   $ 229,634     $ 215,981  
         
Current Liabilities        
Current Maturities of Notes Payable   $ 1,000     $ 3,074  
Accounts Payable   6,912     10,524  
Dividends Payable   1,795     1,735  
Other Current Liabilities   26,202     25,614  
Total Current Liabilities   35,909     40,947  
Noncurrent Liabilities        
Notes Payable   8,871     —  
Other Noncurrent Liabilities   31,915     28,379  
Total Noncurrent Liabilities   40,786     28,379  
Stockholders’ Equity   152,939     146,655  
Total Liabilities and Stockholders’ Equity   $ 229,634     $ 215,981  
         
Book Value Per Share Outstanding   $ 21.63     $ 20.39  
         
Acquisitions of:        
Property, Plant and Equipment Third Quarter $ 3,159     $ 3,584  
  Year To Date $ 10,757     $ 10,870  
Depreciation and Amortization Charges Third Quarter $ 3,588     $ 3,470  
  Year To Date $ 10,653     $ 10,399  

CONSOLIDATED STATEMENTS OF CASH FLOWS      
(in thousands)      
(unaudited)      
  For the Nine Months Ended
  April 30
  2021   2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 10,423       $ 12,859    
Adjustments to reconcile net income to net cash      
provided by operating activities:      
Depreciation and Amortization 10,653       10,399    
Increase in Accounts Receivable (3,864 )     (7,296 )  
Decrease (Increase) in Inventories 524       (72 )  
(Decrease) Increase in Accounts Payable (4,227 )     3,859    
(Decrease) Increase in Accrued Expenses (4,070 )     4,612    
Decrease in Pension and Postretirement Benefits (656 )     (5,482 )  
Other (443 )     3,390    
Total Adjustments (2,083 )     9,410    
Net Cash Provided by Operating Activities 8,340       22,269    
       
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital Expenditures (10,757 )     (10,870 )  
Other 4       112    
Net Cash Used in Investing Activities (10,753 )     (10,758 )  
       
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal Payments on Notes Payable —       (3,082 )  
Dividends Paid (5,399 )     (5,292 )  
Purchase of Treasury Stock (2,925 )     (4,620 )  
Other —       142    
Net Cash Used in Financing Activities (8,324 )     (12,852 )  
       
Effect of exchange rate changes on Cash and Cash Equivalents 165       27    
       
Net Decrease in Cash and Cash Equivalents (10,572 )     (1,314 )  
Cash and Cash Equivalents, Beginning of Period 40,890       21,862    
Cash and Cash Equivalents, End of Period $ 30,318       $ 20,548    



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IAC Announces CFO Transition

PR Newswire

NEW YORK, June 8, 2021 /PRNewswire/ — IAC (NASDAQ: IAC) announced that Executive Vice President and Chief Financial Officer Glenn H. Schiffman will depart the company to pursue a new opportunity following a couple months of a transitional period.

IAC has initiated a search for a permanent replacement. In the interim, IAC’s talented and long-time financial executive leadership team, including Senior Vice President and Controller Michael Schwerdtman, Senior Vice President, Finance and Investor Relations Mark Schneider, and Senior Vice President and Treasurer Nick Stoumpas, will report directly to IAC CEO Joey Levin and continue to oversee key financial functions at both IAC and Angi Inc. (NASDAQ: ANGI).  Mr. Schiffman will remain on the Angi Board of Directors.

“Glenn’s amazing. He has been a real partner in IAC’s growth and success and we’re grateful for his energy and leadership.  I have no doubt he’ll continue to do great things,” said Joey Levin, CEO of IAC. “Our financial operations across IAC are world class with trusted, seasoned executives with decades of collective experience in finance leadership roles and long-tenured roles at IAC. They will undoubtedly ensure a seamless transition as we find a new CFO and focus on the opportunities ahead.”

“It has been a true privilege to be a part of such an exceptional team and to contribute to the recent success of IAC,” said Glenn H. Schiffman. “It has been an incredible run over the last five years and just a delight to have worked with our talented finance team and have been a small part of the incredible legacy of IAC.  I couldn’t be prouder of our work helping IAC build lasting shareholder value and helping to shape the next generation of great companies. I look forward to cheering on the entire IAC team and I’m excited to continue helping drive success at Angi.”

About IAC
IAC (NASDAQ: IAC) builds companies.  We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands.  From the single seed that started as IAC over two decades ago have emerged 11 public companies and generations of exceptional leaders.  We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC today has majority ownership of Angi Inc., which also includes HomeAdvisor Powered by Angi and Handy, and operates Dotdash and Care.com, among many others. The Company is headquartered in New York City and has business operations and satellite offices worldwide.


Contact Us

IAC Investor Relations

Mark Schneider

(212) 314-7400

IAC Corporate Communications 
Valerie Combs
(212) 314-7361

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SOURCE IAC

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UiPath Reports First Quarter Fiscal 2022 Financial Results

UiPath Reports First Quarter Fiscal 2022 Financial Results

ARR of $653 million increased 64 percent year-over-year driven by record net new ARR of $72 million

NEW YORK–(BUSINESS WIRE)–
UiPath, Inc. (NYSE: PATH), a leading enterprise automation software company, today announced financial results for its first quarter fiscal 2022 ended April 30, 2021.

“We had an exceptionally strong start to fiscal year 2022 with first quarter ARR growing 64 percent year-over-year to $653 million, a testament to our leadership position in enterprise software automation,” commented Daniel Dines, UiPath Co-Founder and Chief Executive Officer. “We believe automation is the next layer in the software stack. Our vision is to enable the fully automated enterprise through our unique combination of UI Automation, API Management, and AI to best emulate human workers and help organizations assign all automatable work to robots enterprise-wide. Our end-to-end automation platform, flexible deployment model, and growing ecosystem of partners position us well to capitalize on the more than $60 billion market opportunity ahead of us.”

Ashim Gupta, UiPath Chief Financial Officer, added, “I am pleased with our first quarter fiscal 2022 results as we continue to execute well against our land and expand go-to-market strategy. We have experienced rapid growth and now have over 8,500 customers worldwide, including 1,105 customers with ARR of $100,000 or greater and 104 customers with ARR of $1 million or greater. Given our existing momentum, we plan to continue to invest in growth while maintaining operational rigor as we run our business.”

Fiscal First Quarter 2022 Financial Highlights

  • ARR of $652.6 million increased 64 percent year-over-year.
  • Revenue of $186.2 million increased 65 percent year-over-year.
  • GAAP gross margin was 74 percent.
  • Non-GAAP gross margin was 88 percent.
  • Cash flowused in operations was $(17.5) million.
  • Non-GAAP free cash flow was $(20.1) million.
  • Balance sheet: Cash, cash equivalents, restricted cash, and marketable securities increased to $1.9 billion as of April 30, 2021.

Recent Business Highlights

  • UiPath completed its initial public offering (IPO): The offering consisted of 27,474,393 shares of its Class A common stock at a price to the public of $56.00 per share, which consisted of 13,000,000 shares issued and sold by UiPath and 14,474,393 shares sold by the selling stockholders. Net proceeds from the IPO totaled $692.4 million, and UiPath did not receive any proceeds from the shares sold by the selling stockholders. UiPath is listed on the NYSE under the ticker symbol “PATH”.
  • Released UiPath Platform 21.4: As previously announced, highlights of this platform release include three new products and over 100 major customer driven new features and deeper integrations across every pillar of our end-to-end platform. Innovations include the all-new Automation Ops, designed to help customers manage and govern high scale deployments of the UiPath Studio family of products and Attended Robots enterprise-wide. New AI-powered capabilities were also introduced to speed the discovery and prioritization of processes to automate, led by the general availability of Task Mining. Other upgrades included a seamless user experience across the platform and the continued rapid expansion of Automation Cloud™. We have over 5,000 customers and partners registered for our 21.4 Release Show and 15,000 developers are expected to join UiPath DevCon next week.
  • Acquired Cloud Elements to bring together Ui Automation and Computer Vision with API Management: With the March 2021 acquisition of Cloud Elements, a pioneering API integration platform, UiPath will be able to offer both enterprise-grade user interface (UI) and application programming interface (API) based automation capabilities in a single platform. This means that UiPath customers now have the flexibility to automate processes using an optimal mix of UI and API-based automation.
  • Expanded technology partnership: UiPath and Tableau launched a Tableau Activity which allows customers to easily utilize data produced or retrieved by robotic automations in their Tableau reports and the UiPath extension for Tableau which triggers a robot directly from a Tableau report or dashboard.
  • Recognized as a leader in The Forrester Wave™: Robotic Process Automation, Q1 2021: Among the 14 vendors evaluated, UiPath earned the highest ranking in each of three categories: Current Offering, Strategy, and Market Presence. The Company also received the highest possible scores in the criteria of product vision; performance; supporting products and services; partner ecosystem; delivery model; enterprise RPA customers; enterprise customers; and product revenue.
  • Delivered COVID-19 Aid: Supported Oxygen for India with a contribution of over $1 million in corporate and employee donations to send and distribute oxygen supplies throughout the country.
  • Appointed new Chief People Officer and first Chief Culture Officer: UiPath appointedBettina Koblick, most recently Chief People Officer (CPO) at ServiceMax, as its Chief People Officer, and Andreea Baciu, interim UiPath CPO, as UiPath’s first Chief Culture Officer. Both appointees bring significant experience from software companies of varied scale and stage.
  • Expanded mission to democratize automation and drive diversity in the technology industry: The UiPath Academic Alliance partnered with seven Historically Black Colleges and Universities (HBCUs) to train students on RPA. These partnerships with HBCUs are intended to bring workforce development opportunities, along with the skills, training, and knowledge to not only thrive in digitally-led work environments, but to also shape them. To date, UiPath Academic Alliance has partnered with more than 750 academic institutions globally.

Financial Outlook

For the fiscal second quarter 2022, UiPath expects:

  • ARR in the range of $702 million and $704 million
  • Revenue in the range of $180 million and $185 million
  • Non-GAAP operating loss in the range of $(35) million and $(25) million

For the fiscal full year 2022, UiPath expects:

  • ARR in the range of $850 million and $855 million

Reconciliation of non-GAAP operating loss guidance to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure; in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.

Partial Early Lock-Up Release

UiPath announced today that a partial early lock-up release will occur immediately prior to the opening of trading on June 10, 2021 with respect to its shares of Class A common stock, par value $0.00001 per share, pursuant to the terms of certain lock-up agreements entered into by UiPath’s directors and executive officers, the selling stockholders, and certain other stockholders with the underwriters of UiPath’s initial public offering.

Pursuant to the terms of the lock-up agreements, the lock-up restrictions automatically end with respect to 30% of certain securities owned as of March 31, 2021 by the selling stockholders and UiPath’s directors, certain executive officers, employees, former employees, and certain other stockholders. The lock-up restrictions will continue to apply with respect to all remaining securities subject to the lock-up agreements.

Conference Call and Webcast

UiPath will host a conference call today, Tuesday, June 8, 2021, at 5:00 p.m. Eastern Time, to discuss the Company’s fiscal first quarter 2022 financial results and guidance. To access this call, dial 1-201-689-8057 (domestic) or 1-877-407-8309 (international). The passcode is 13719454. A replay of this conference call will be available through June 22, 2021 at 1-201-612-7415 (domestic) or 1-877-660-6853 (international). The replay passcode is 13719454. A live webcast of this conference call will be available on the “Investor Relations” page of the Company’s website (https://ir.uipath.com), and a replay will be archived on the website as well.

About UiPath

UiPath has a vision to deliver the Fully Automated Enterprise™, one where companies use automation to unlock their greatest potential. UiPath offers an end-to-end platform for automation, combining the leading Robotic Process Automation (RPA) solution with a full suite of capabilities that enable every organization to rapidly scale digital business operations.

Forward Looking Statements

Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, which are. usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “outlook”, “seeks,” “should,” “will,” and variations of such words or similar expressions.

We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions.

These forward-looking statements include, but are not limited to, statements regarding our financial guidance for the second fiscal quarter and full year fiscal 2022, the estimated addressable market opportunity for our platform, the successful integration of new features into our platform, and the success of our collaborations with third parties. Accordingly, actual results could differ materially or such uncertainties could cause adverse effects on our results. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: (1) our recent rapid growth may not be indicative of our future growth; (2) our limited operating history; (3) our ability to successfully manage our growth; (4) our ability and the ability of our platform to satisfy and adapt to customer demands; (5) our business depends on our existing customers renewing their licenses and purchasing additional licenses and products from us and our channel partners; (6) our ability to attract and retain customers; (7) the competitive markets in which we participate; (8) general market, political, economic, and business conditions; (9) our ability to maintain and expand our distribution channels; (10) our reliance on third-party providers of cloud-based infrastructure; and (11) the potential impact that the COVID-19 pandemic and any related economic downturn could have on our or our customers’ businesses, financial condition and results of operations.

Further information on risks that could cause actual results to differ materially from our guidance can be found in the final prospectus for our initial public offering, dated April 20, 2021 and filed with the Securities and Exchange Commission (SEC) on April 21, 2021, and in our Quarterly Report on Form 10-Q that will be filed for the fiscal quarter ended April 30, 2021. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements

Key Performance Metric and Non-GAAP Financial Measures

Annualized Renewal Run-rate (ARR) is a key performance metric we use in managing our business because it illustrates our ability to acquire new subscription customers and to maintain and expand our relationships with existing subscription customers. We define ARR as annualized invoiced amounts per solution SKU from subscription licenses and maintenance obligations assuming no increases or reductions in the subscriptions. ARR does not include the costs we may incur to obtain such subscription licenses or provide such maintenance and does not reflect any actual or anticipated reductions in invoiced value due to contract non-renewals or service cancellations other than for specific bad debt or disputed amounts. Additionally, though we use ARR as a forward-looking metric in the management of our business, it does not include invoiced amounts reported as perpetual licenses or professional services revenue in our consolidated statement of operations, and is not a forecast of future revenue, which can be impacted by contract start and end dates, duration, and renewal rates. Investors should not place undue reliance on ARR as an indicator of future or expected results. Our definition of ARR may differ from the definition used by other companies and therefore comparability may be limited.

This earnings press release includes the following financial measures defined as non-GAAP financial measures by the SEC, including non-GAAP cost of revenue, non-GAAP gross profit and margin, non-GAAP operating expenses, non-GAAP operating loss and margin, non-GAAP net loss and non-GAAP net income (loss) per share and non-GAAP free cash flow. These non-GAAP financial measures exclude:

· stock-based compensation expense;

· amortization of acquired intangibles;

· employer payroll tax expense related to employee equity transactions;

· in the case of non-GAAP net loss, the associated tax adjustments with the related add-backs; and

· in the case of free cash flow, purchases of property and equipment and capitalization of software development costs.

UiPath uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating UiPath’s ongoing operational performance. UiPath believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in UiPath’s industry, many of which present similar non-GAAP financial measures to investors. On-GAAP financial measures are financial measures that are derived from the consolidated financial statements, but that are not presented in accordance with generally accepted accounting principles in the United States (GAAP). We believe these non-GAAP financial measures provide investors with useful supplementary information in evaluating our performance. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. The information below provides a reconciliation of non-GAAP financial measures used in this press release to the most directly comparable GAAP financial measures. We encourage investors to consider our GAAP results alongside our supplemental non-GAAP measures, and to review the reconciliation between GAAP results and non-GAAP measures that is included at the end of this earnings press release. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of UiPath’s website at https://ir.uipath.com.

UiPath, Inc.
Condensed Consolidated Statements of Operations
in thousands, except per share data
(unaudited)
 
Three Months Ended April 30,

2021

2020
Revenue:
Licenses

$

100,216

 

$

63,759

 

Maintenance and support

 

77,642

 

 

43,196

 

Services and other

 

8,359

 

 

6,148

 

Total revenue

 

186,217

 

 

113,103

 

Cost of revenue:
Licenses

 

2,454

 

 

1,417

 

Maintenance and support

 

14,179

 

 

5,543

 

Services and other

 

32,377

 

 

6,678

 

Total cost of revenue

 

49,010

 

 

13,638

 

Gross profit

 

137,207

 

 

99,465

 

Operating expenses:
Sales and marketing

 

205,751

 

 

90,931

 

Research and development

 

93,040

 

 

26,729

 

General and administrative

 

74,415

 

 

26,676

 

Total operating expenses

 

373,206

 

 

144,336

 

Operating loss

 

(235,999

)

 

(44,871

)

Interest income

 

941

 

 

530

 

Other expense, net

 

(3,218

)

 

(7,837

)

Loss before income taxes

 

(238,276

)

 

(52,178

)

Provision for income taxes

 

1,387

 

 

662

 

Net loss

$

(239,663

)

$

(52,840

)

Net loss per share attributable to common stockholders, basic and diluted

$

(1.11

)

$

(0.33

)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted

 

215,352

 

 

159,003

 

UiPath, Inc.
Condensed Consolidated Balance Sheets
in thousands, except per share data
(unaudited)
 
As of
April 30, 2021 January 31, 2021
Assets
Current assets
Cash and cash equivalents

$

1,796,267

 

$

357,690

 

Restricted cash, current

 

13,500

 

 

7,000

 

Marketable securities

 

83,263

 

 

102,828

 

Accounts receivable, net of allowance for doubtful accounts of $2,137 and $2,879, respectively

 

136,520

 

 

172,286

 

Contract assets, current

 

35,058

 

 

34,221

 

Deferred contract acquisition costs, current

 

13,624

 

 

10,653

 

Prepaid expenses and other current assets

 

41,672

 

 

49,752

 

Total current assets

 

2,119,904

 

 

734,430

 

Restricted cash, non-current

 

—

 

 

6,500

 

Contract assets, non-current

 

9,136

 

 

2,085

 

Deferred contract acquisition costs, non-current

 

44,618

 

 

32,553

 

Property and equipment, net

 

15,149

 

 

14,822

 

Operating lease right-of-use assets

 

16,490

 

 

17,260

 

Intangible assets, net

 

20,423

 

 

10,191

 

Goodwill

 

58,478

 

 

28,059

 

Deferred tax asset, non-current

 

7,836

 

 

8,118

 

Other assets, non-current

 

14,536

 

 

12,443

 

Total assets

$

2,306,570

 

$

866,461

 

 
Liabilities, Convertible Preferred Stock, and Stockholders’ Equity (Deficit)
Current liabilities
Accounts payable

$

5,642

 

$

6,682

 

Accrued expenses and other current liabilities

 

51,057

 

 

36,660

 

Accrued compensation and employee benefits

 

49,802

 

 

110,736

 

Deferred revenues, current

 

222,089

 

 

211,078

 

Total current liabilities

 

328,590

 

 

365,156

 

Deferred revenues, non-current

 

55,224

 

 

61,325

 

Operating lease liabilities, non-current

 

12,968

 

 

14,152

 

Other liabilities, non-current

 

10,247

 

 

7,564

 

Total liabilities

 

407,029

 

 

448,197

 

Commitments and contingencies
Convertible preferred stock

 

—

 

 

1,221,968

 

Stockholders’ equity (deficit)
Preferred stock

 

—

 

 

—

 

Class A common stock

 

4

 

 

1

 

Class B common stock

 

1

 

 

1

 

Additional paid-in capital

 

3,117,853

 

 

179,175

 

Accumulated other comprehensive loss

 

(8,294

)

 

(12,521

)

Accumulated deficit

 

(1,210,023

)

 

(970,360

)

Total stockholders’ equity (deficit)

 

1,899,541

 

 

418,264

 

Total liabilities, convertible preferred stock, and stockholders’ equity (deficit)

$

2,306,570

 

$

866,461

 

UiPath, Inc.
Condensed Consolidated Statements of Cash Flows
in thousands
(unaudited)
Three Months Ended April 30,

2021

2020
Cash flows from operating activities
Net loss

$

(239,663

)

$

(52,840

)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

 

3,172

 

 

3,147

 

Amortization of deferred contract acquisition costs

 

4,920

 

 

8,006

 

Amortization of deferred loan cost

 

66

 

 

—

 

Net amortization of premium on marketable securities

 

558

 

 

—

 

Stock-based compensation expense

 

250,835

 

 

8,201

 

Non-cash operating lease costs

 

1,734

 

 

1,879

 

(Benefit from) provision for bad debt

 

(709

)

 

29

 

Deferred income taxes

 

21

 

 

(52

)

Changes in operating assets and liabilities:
Accounts receivable

 

35,973

 

 

9,769

 

Contract assets

 

(8,148

)

 

(4,781

)

Deferred contract acquisition costs

 

(20,205

)

 

(5,782

)

Prepaid expenses and other assets

 

7,666

 

 

1,109

 

Accounts payable

 

(528

)

 

4,251

 

Accrued expense and other liabilities

 

4,573

 

 

(1,646

)

Accrued compensation and employee benefits (1)

 

(60,433

)

 

(8,340

)

Operating lease liabilities, net

 

(1,807

)

 

(1,894

)

Deferred revenue

 

4,453

 

 

14,812

 

Net cash used in operating activities

 

(17,522

)

 

(24,132

)

 
Cash flows from investing activities
Purchases of marketable securities

 

(94,157

)

 

—

 

Sales of marketable securities

 

89,383

 

 

—

 

Maturities of marketable securities

 

23,755

 

 

—

 

Purchases of property and equipment

 

(2,200

)

 

(460

)

Capitalization of software development costs

 

(410

)

 

—

 

Payment related to business acquisition, net of cash acquired

 

(5,498

)

 

—

 

Net cash provided by (used in) investing activities

 

10,873

 

 

(460

)

Cash flows from financing activities
Proceeds from initial public offering, net of underwriting discounts and commissions

 

692,369

 

 

—

 

Payments of deferred offering costs

 

(2,406

)

 

—

 

Proceeds from issuance of convertible preferred shares, net of issuance costs

 

750,000

 

 

—

 

Issuance costs of convertible preferred shares

 

(164

)

 

—

 

Proceeds from exercise of stock options

 

3,114

 

 

536

 

Proceeds from credit facility

 

—

 

 

78,828

 

Net cash provided by financing activities

 

1,442,913

 

 

79,364

 

Effect of exchange rate changes

 

2,313

 

 

7,955

 

Net increase in cash, cash equivalents and restricted cash

 

1,438,577

 

 

62,727

 

Cash, cash equivalents and restricted cash – beginning of period

 

371,190

 

 

234,131

 

Cash, cash equivalents and restricted cash – end of period

$

1,809,767

 

$

296,858

 

(1)   

Includes increase in accrued employer payroll tax related to employee equity transactions of $315 and $0, respectively.

UiPath, Inc.
Reconciliation of GAAP Cost of Revenue, Gross Profit and Margin to Non-GAAP Cost of Revenue, Gross Profit and Margin
in thousands, except percentages and per share data
(unaudited)
 
Three Months Ended April 30,

2021

2020
Licenses
GAAP cost of licenses

$

2,454

 

$

1,417

 

Less: Stock-based compensation expense

 

—

 

 

—

 

Less: Amortization of acquired intangible assets

 

646

 

 

586

 

Less: Employer payroll tax expense related to employee equity transactions

 

—

 

 

—

 

Non-GAAP cost of licenses

$

1,808

 

$

831

 

 
Maintenance and Support
GAAP cost of maintenance and support

$

14,179

 

$

5,543

 

Less: Stock-based compensation expense

 

6,214

 

 

85

 

Less: Amortization of acquired intangible assets

 

110

 

 

—

 

Less: Employer payroll tax expense related to employee equity transactions

 

—

 

 

—

 

Non-GAAP cost of maintenance and support

$

7,855

 

$

5,458

 

 
Services and Other
GAAP cost of services and other

$

32,377

 

$

6,678

 

Less: Stock-based compensation expense

 

18,931

 

 

298

 

Less: Amortization of acquired intangible assets

 

—

 

 

—

 

Less: Employer payroll tax expense related to employee equity transactions

 

—

 

 

—

 

Non-GAAP cost of services and other

$

13,446

 

$

6,380

 

 
Gross Profit and Margin
GAAP gross profit

$

137,207

 

$

99,465

 

GAAP gross margin

 

74

%

 

88

%
Plus: Stock-based compensation expense

 

25,145

 

 

383

 

Plus: Amortization of acquired intangible assets

 

756

 

 

586

 

Plus: Employer payroll tax expense related to employee equity transactions

 

—

 

 

—

 

Non-GAAP gross profit

$

163,108

 

$

100,434

 

Non-GAAP gross margin

 

88

%

 

89

%
UiPath, Inc.
Reconciliation of GAAP Operating Expenses, Loss, and Margin to Non-GAAP Operating Expenses, Income (Loss), and Margin
in thousands, except percentages and per share data
(unaudited)
 
Three Months Ended April 30,

2021

2020
Sales and Marketing
GAAP sales and marketing

$

205,751

 

$

90,931

 

Less: Stock-based compensation expense

 

119,293

 

 

1,853

 

Less: Amortization of acquired intangible assets

 

161

 

 

35

 

Less: Employer payroll tax expense related to employee equity transactions

 

315

 

 

—

 

Non-GAAP sales and marketing

$

85,982

 

$

89,043

 

 
Research and Development
GAAP research and development

$

93,040

 

$

26,729

 

Less: Stock-based compensation expense

 

65,616

 

 

1,816

 

Less: Amortization of acquired intangible assets

 

—

 

 

—

 

Less: Employer payroll tax expense related to employee equity transactions

 

—

 

 

—

 

Non-GAAP research and development

$

27,424

 

$

24,913

 

 
General and Administrative
GAAP general and administrative

$

74,415

 

$

26,676

 

Less: Stock-based compensation expense

 

40,781

 

 

4,149

 

Less: Amortization of acquired intangible assets

 

—

 

 

—

 

Less: Employer payroll tax expense related to employee equity transactions

 

—

 

 

—

 

Non-GAAP general and administrative

$

33,634

 

$

22,527

 

 
Operating Loss
GAAP operating loss

$

(235,999

)

$

(44,871

)

GAAP operating margin

 

(127

)%

 

(40

)%
Plus: Stock-based compensation expense

 

250,835

 

 

8,201

 

Plus: Amortization of acquired intangible assets

 

917

 

 

621

 

Plus: Employer payroll tax expense related to employee equity transactions

 

315

 

 

—

 

Non-GAAP operating income (loss)

$

16,068

 

$

(36,049

)

Non-GAAP operating margin

 

9

%

 

(32

)%
UiPath, Inc.
Reconciliation of GAAP Net Loss and GAAP Net Loss Per Share to Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) Per Share
in thousands, except percentages and per share data
(unaudited)
 
Three Months Ended April 30,

2021

2020
GAAP net loss

$

(239,663

)

$

(52,840

)

Plus: Stock-based compensation expense

 

250,835

 

 

8,201

 

Plus: Amortization of acquired intangible assets

 

917

 

 

621

 

Plus: Employer payroll tax expense related to employee equity transactions

 

315

 

 

—

 

Tax adjustments to add-backs (1)

 

(745

)

 

—

 

Non-GAAP net income (loss)

$

11,659

 

$

(44,018

)

 
GAAP net loss per share, basic and diluted

$

(1.11

)

$

(0.33

)

GAAP weighted average common shares outstanding, basic and diluted

 

215,352

 

 

159,003

 

 
Plus: Unweighted adjustment for conversion of preferred to common stock in connection with IPO

 

278,768

 

 

306,300

 

Plus: Unweighted adjustment for common stock issued in connection with IPO

 

11,831

 

 

13,000

 

Non-GAAP weighted average common shares outstanding, basic

 

505,951

 

 

478,303

 

 
Plus: Outstanding restricted stock units

 

30,278

 

 

—

 

Plus: Outstanding stock options

 

20,285

 

 

—

 

Plus: Unvested early exercised stock options

 

1,468

 

 

—

 

Plus: Unvested restricted stock awards

 

43

 

 

—

 

Non-GAAP weighted average common shares outstanding, diluted

 

558,025

 

 

478,303

 

 
Non-GAAP net income (loss) per share, basic

$

0.02

 

$

(0.09

)

Non-GAAP net income (loss) per share, diluted

$

0.02

 

$

(0.09

)

(1)   

Calculated based on an estimated blended tax rate of 27%.

UiPath, Inc.
Reconciliation of GAAP Operating Cash Flow to Non-GAAP Free Cash Flow
in thousands, except percentages and per share data
(unaudited)
 
Three Months Ended April 30,

2021

2020
GAAP net cash used in operating activities

$

(17,522

)

$

(24,132

)

Plus: Purchases of property and equipment

 

(2,200

)

 

(460

)

Plus: Capitalization of software development costs

 

(410

)

 

—

 

Plus: Cash paid for employer payroll taxes related to employee equity transactions

 

—

 

 

—

 

Non-GAAP free cash flow

$

(20,132

)

$

(24,592

)

GAAP net cash provided by (used in) investing activities

$

10,873

 

$

(460

)

GAAP Net cash provided by financing activities

$

1,442,913

 

$

79,364

 

 

Investor Relations Contact

Kelsey Turcotte

[email protected]

UiPath

Media Contact

Toni Iafrate

[email protected]

UiPath

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Electronic Design Automation Data Management Technology Other Technology Software Networks

MEDIA:

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Posted on

Anaplan to Present at Upcoming Virtual Investor Conference

Anaplan to Present at Upcoming Virtual Investor Conference

SAN FRANCISCO–(BUSINESS WIRE)–Anaplan, Inc. (NYSE:PLAN), provider of a leading cloud-native platform for orchestrating business performance, announced today that its management team will present virtually at the following investor conference:

Berenberg Thematic Software Days Conference

Wednesday, June 16, 2021

8:00 a.m. (PT) / 11:00 a.m. (ET)

Interested parties can listen to the live audio webcast of Anaplan’s presentation available on Anaplan’s Investor Center website at https://investors.anaplan.com. A replay of the presentation will be available on the website following the completion of the event.

About Anaplan

Anaplan, Inc. (NYSE: PLAN) is a cloud-native enterprise SaaS company that empowers global organizations to orchestrate business performance and execute digital transformation with confidence and agility. Leaders across industries rely on our platform—powered by our proprietary Hyperblock® technology—to connect teams, systems, and insights from across their organizations to continuously adapt to change, transform how they operate, and reinvent value creation to compete in today’s digital economy. Based in San Francisco, Anaplan has over 175 partners and more than 1,700 customers worldwide. To learn more, visit anaplan.com.

Investor Contact:

Edelita Tichepco

[email protected]

Media Contact:

Anthony Harrison

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Technology Data Management

MEDIA:

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Ocuphire Announces Closing of $15 Million Registered Direct Offering Priced At-the-Market

Capital Raise Expected to Extend Runway Through Late 2022 and Allow Additional Milestones for a Potential NDA Filing for Nyxol in Reversal of Mydriasis

FARMINGTON HILLS, Mich., June 08, 2021 (GLOBE NEWSWIRE) — Ocuphire Pharma, Inc. (Nasdaq: OCUP), a clinical-stage ophthalmic biopharmaceutical company focused on development and commercialization of therapies for the treatment of several eye disorders, announced today the closing of its previously announced registered direct offering of 3,076,923 shares of the Company’s common stock (the “Shares”) and warrants to purchase 1,538,461 shares of the Company’s common stock (the “Warrants”, and together with the Shares, the “Securities”) at a combined purchase price of $4.875 per one Share and 0.5 Warrant in an offering priced at-the-market under Nasdaq rules. The Warrants have an exercise price of $6.09 per share, will be exercisable on issuance date, and will expire five years following the issuance date. Gross proceeds from the offering were approximately $15 million, before deducting placement agent fees and other offering expenses payable by the Company.

Lincoln Park Capital Fund, LLC was the lead investor in the offering. Additional investors participating in the offering included Ayrton Capital, District 2 Capital Fund LP, Altium Capital, and other new and existing institutional healthcare investors.

A.G.P./Alliance Global Partners acted as sole placement agent for the offering.

The Company intends to use the net proceeds from the offering to cover clinical (2nd Phase 3 trial and pediatric trial), manufacturing (including commercial batches), and regulatory costs associated with the submission of a New Drug Application for Nyxol® for the reversal of pharmacologically-induced mydriasis, as well as for working capital and general corporate purposes. The Company expects that this offering combined with cash on hand will fund operations until late 2022.

This offering was made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-252715) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A final prospectus supplement describing the terms of the proposed offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Ocuphire Pharma

Ocuphire is a publicly traded (NASDAQ: OCUP), clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing therapies for the treatment of several eye disorders. Ocuphire’s pipeline currently includes two small-molecule product candidates targeting front and back of the eye indications. The company’s lead product candidate, Nyxol® (0.75% phentolamine ophthalmic solution) Eye Drops, is a once-daily preservative-free eye drop formulation of phentolamine mesylate, a non-selective alpha-1 and alpha-2 adrenergic antagonist designed to reduce pupil size, and is being developed for several indications, including dim light or night vision disturbances (“NVD”), reversal of pharmacologically-induced mydriasis (“RM”), and presbyopia, and has been studied in 8 clinical trials including the recently completed Phase 3 trial in RM. Ocuphire reported positive topline data in March 2021 for MIRA-2, a Phase 3 FDA registration study for treatment of RM. Nyxol is also currently in Phase 3 clinical development for NVD and in Phase 2 for presbyopia. Ocuphire’s second product candidate, APX3330, is an oral tablet designed to inhibit angiogenesis and inflammation pathways relevant to retinal and choroidal vascular diseases, such as diabetic retinopathy (“DR”) and diabetic macular edema (“DME”) and has been studied in 11 Phase 1 and 2 trials. APX3330 is currently enrolling subjects in a Phase 2 clinical trial in subjects with DR/DME. As part of its strategy, Ocuphire will continue to explore opportunities to acquire additional ophthalmic assets and to seek strategic partners for late-stage development, regulatory preparation, and commercialization of drugs in key global markets. Please visit www.clinicaltrials.gov to learn more about Ocuphire’s completed Phase 2 trials, recently completed Phase 3 registration trial (NCT04620213), ongoing Phase 3 registration trial (NCT04638660), Phase 2 trial in presbyopia (NCT04675151), and Phase 2 trial in DR/DME (NCT04692688). For more information, please visit www.ocuphire.com.

Forward Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning the use of proceeds from the offering, Ocuphire’s product candidates, results of ongoing and future clinical trials, and commercialization and market opportunities. These forward-looking statements are based upon Ocuphire’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation: (i) the success and timing of regulatory submissions and pre-clinical and clinical trials, including enrollment and data readouts; (ii) regulatory requirements or developments; (iii) changes to clinical trial designs and regulatory pathways; (iv) changes in capital resource requirements; (v) risks related to the inability of Ocuphire to obtain sufficient additional capital to continue to advance its product candidates and its preclinical programs; (vi) legislative, regulatory, political and economic developments, (vii) changes in market opportunities, (viii) the effects of COVID-19 on clinical programs and business operations, (ix) the success and timing of commercialization of any of Ocuphire’s product candidates and (x) the maintenance of Ocuphire’s intellectual property rights. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors detailed in documents that have been and may be filed by Ocuphire from time to time with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Ocuphire undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Ocuphire Contacts

Mina Sooch, President and CEO 
Ocuphire Pharma, Inc. 
[email protected]  
www.ocuphire.com

Corey Davis, Ph.D.
LifeSci Advisors
[email protected]



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ACM Research to Participate in the 13th Annual Virtual CEO Investor Summit 2021

FREMONT, Calif., June 08, 2021 (GLOBE NEWSWIRE) — ACM Research, Inc. (NASDAQ:ACMR), a leading supplier of wafer cleaning technologies for advanced semiconductor devices, today announced that its management team will participate in the 13th Annual CEO Summit, being held virtually this year on Tuesday, June 15, 2021.

The CEO Summit is hosted by executive management from participating companies and will feature a virtual “round-robin” format consisting of small group meetings, each 40 minutes in duration. Each company will be available for up to six meeting slots during the conference, while investors and analysts will have the opportunity to meet with 14 of the participating management teams from 9:00a.m. until 5:15p.m. EDT on June 15th.

The Virtual CEO Summit is by invitation only and is open to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Advance registration and company meeting selection is required. The last day for registration is June 10, 2021.

RSVP Contacts for 13

th

Annual Virtual CEO Summit 2021

To RSVP for the Virtual CEO Summit, please contact either of the Summit’s co-chairs.

Laura J. Guerrant-Oiye
Guerrant Associates
Phone: (808) 960-2642
Email:  [email protected]		 Claire E. McAdams
Headgate Partners LLC
Phone: (530) 265-9899
Email: [email protected]

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing and thermal processes that are critical to advanced semiconductor device manufacturing, as well as wafer-level packaging. The company is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield.

© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM Research will not assert, to the fullest extent under applicable law, its rights to such trademark.

For investor and media inquiries, please contact:

In the United States: The Blueshirt Group
  Ralph Fong
  +1 (415) 489-2195
 

[email protected]
   
In China: The Blueshirt Group Asia
  Gary Dvorchak, CFA
  +86 (138) 1079-1480
 

[email protected]

 



Posted on

Kornit Digital to Participate in the Citi Silicon Valley Virtual Tech Bus Tour on June 10th

ROSH HA’AYN, Israel, June 08, 2021 (GLOBE NEWSWIRE) — Kornit Digital (Nasdaq: KRNT), today announced that management will host a fireside chat at the following investor event:

Citi Silicon Valley Virtual Tech Bus Tour

Date:  Thursday, June 10, 2021
Virtual Fireside Chat Time: 11:00 am ET (4:00 pm BST)

The fireside chat will be available via live audio webcast and archived replay on Kornit’s investor relations website at http://ir.kornit.com/.

About Kornit Digital

Kornit Digital Ltd. (NASDAQ: KRNT) develops, manufactures and markets industrial digital printing technologies for the garment, apparel and textile industries. Kornit delivers complete solutions, including digital printing systems, inks, consumables, software and after-sales support. Leading the digital direct-to-garment printing market with its exclusive eco-friendly NeoPigment printing process, Kornit caters directly to the changing needs of the textile printing value chain. Kornit’s technology enables innovative business models based on web-to-print, on-demand and mass customization concepts. With its immense experience in the direct-to-garment market, Kornit also offers a revolutionary approach to the roll-to-roll textile printing industry: digitally printing with a single ink set onto multiple types of fabric with no additional finishing processes. Founded in 2002, Kornit Digital is a global company, headquartered in Israel with offices in the USA, Europe and Asia Pacific, and serves customers in more than 100 countries and states worldwide.

Investor contact

Monica Gould
The Blueshirt Group
[email protected]
212-871-3927



Posted on

Atento appoints Kiomara Hidalgo as new Global Chief People Officer

– Hidalgo will lead the cultural transformation and homogenization of the company’s human resources to streamline and standardize processes and improve the quality of leadership

PR Newswire

NEW YORK, June 8, 2021 /PRNewswire/ — Atento S.A. (NYSE: ATTO, “Atento” or the “Company”), the leading company in customer relationship services and business process outsourcing (CRM / BPO) in Latin America and one of the five largest providers worldwide, announced today the appointment of Kiomara Hidalgo as the new Global Chief People Officer. Hidalgo will focus on standardizing Atento’s human resources department in all the countries in which the company is present, improving the processes for welcoming, attracting and retaining talent.

Kiomara Hidalgo has more than 20 years of experience in human resources in different sectors such as healthcare, retail, technology and education, and also in international environments in companies included in the Fortune 500 list. Previously, Hidalgo was Vice President of Human Resources at Eulen America, a position where she worked with a strategic vision in business development, implementing human capital management strategies, from talent acquisition to retention, through organizational development.

Kiomara Hidalgo holds a Human Resources Management Bachelor’s Degree from Florida International University (FIU) and a Master in the same discipline from FIU Business College. Throughout her career she has led human capital management and organizational projects for companies such as Alorica, United Data Technologies and Bupa Global. Kiomara will promote teamwork and collaboration through leadership management models to improve performance, technological advancement and strategic direction of the Organization.

“With her experience and management style, Kiomara will be a key asset to further integrate our Human Resources area and improve standardization among countries, transforming the organizational culture and providing clients with greater agility and quality,” says Carlos López-Abadía, Atento’s CEO. “As Atento’s Global CPO, Kiomara will be in charge of improving the quality of leadership and supporting our agents, accelerating the Company´s transformation process through technology and human talent, with innovation as a key pillar to a continuous successful journey.”

With this appointment, Atento continues to reinforce its transformation strategy with a global point of view, combining in-depth knowledge of customer relationship services operations with the importance of fostering talent to develop a much friendlier work environment where the company values are shared internationally.

“It is an honor to accept this new professional challenge and contribute my vision of Human Resources management to reinforce the One Atento and One Team initiatives already launched with quality leadership, continuous training and optimization in the processes of attracting and retaining talent. These actions will undoubtedly result in further improvement of our innovative services,” states Kiomara Hidalgo. “The goal is to keep promoting the development of our Next Generation Services through technology, with the essential human touch. Empathy and closeness with employees are essential to continue learning, growing and improving.”

About Atento
Atento is the largest provider of customer relationship management and business process outsourcing (“CRM BPO”) services in Latin America, and among the top five providers globally. Atento is also a leading provider of nearshoring CRM BPO services to companies that carry out their activities in the United States. Since 1999, the company has developed its business model in 13 countries where it employs approximately 140,000 people. Atento has over 400 clients to whom it offers a wide range of CRM BPO services through multiple channels. Atento’s clients are mostly leading multinational corporations in sectors such as telecommunications, banking and financial services, health, retail and public administrations, among others. Atento’s shares trade under the symbol ATTO on the New York Stock Exchange (NYSE). In 2019, Atento was named one of the World’s 25 Best Multinational Workplaces and one of the Best Multinationals to Work for in Latin America by Great Place to Work®. Also, in 2021 Everest named Atento as a star performer Gartner named the company as a leader in the 2021 Gartner Magic Quadrant. For more information visit www.atento.com 


Investor Relations

Shay Chor


[email protected]


Investor Relations

Fernando Schneider


[email protected]


Media Relations

Pablo Sánchez Pérez


[email protected]

+34 670031347

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “intends,” “continue” or similar terminology. These statements reflect only Atento’s current expectations and are not guarantees of future performance or results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. In particular, the COVID-19 pandemic, and governments’ extraordinary measures to limit the spread of the virus, are disrupting the global economy and Atento’s industry, and consequently adversely affecting the Company’s business, results of operation and cash flows and, as conditions are recent, uncertain and changing rapidly, it is difficult to predict the full extent of the impact that the pandemic will have.  Risks and uncertainties include, but are not limited to, competition in Atento’s highly competitive industries; increases in the cost of voice and data services or significant interruptions in these services; Atento’s ability to keep pace with its clients’ needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; the effects of global economic trends on the businesses of Atento’s clients; the non-exclusive nature of Atento’s client contracts and the absence of revenue commitments; security and privacy breaches of the systems Atento uses to protect personal data; the cost of pending and future litigation; the cost of defending Atento against intellectual property infringement claims; extensive regulation affecting many of Atento’s businesses; Atento’s ability to protect its proprietary information or technology; service interruptions to Atento’s data and operation centers; Atento’s ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where Atento operates; changes in foreign exchange rates; Atento’s ability to complete future acquisitions and integrate or achieve the objectives of its recent and future acquisitions; future impairments of our substantial goodwill, intangible assets, or other long-lived assets; and Atento’s ability to recover consumer receivables on behalf of its clients. In addition, Atento is subject to risks related to its level of indebtedness. Such risks include Atento’s ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Atento’s ability to comply with covenants contained in its debt instruments; the ability to obtain additional financing; the incurrence of significant additional indebtedness by Atento and its subsidiaries; and the ability of Atento’s lenders to fulfill their lending commitments. Atento is also subject to other risk factors described in documents filed by the comp any with the United States Securities and Exchange Commission. These forward-looking statements speak only as of the date on which the statements were made. Atento undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/atento-appoints-kiomara-hidalgo-as-new-global-chief-people-officer-301308364.html

SOURCE Atento S.A.

Posted on

Ondas Holdings Inc. Announces Proposed Public Offering of Common Stock

Ondas Holdings Inc. Announces Proposed Public Offering of Common Stock

NANTUCKET, Mass.–(BUSINESS WIRE)–
Ondas Holdings Inc. (NASDAQ: ONDS), a developer of proprietary, software-based wireless broadband technology for large established and emerging industrial markets, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. Ondas also expects to grant the underwriters a 30-day option to purchase additional shares of common stock offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Ondas intends to use the net proceeds from the proposed offering for working capital and general corporate purposes.

Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering, and B. Riley Securities, Inc. is acting as the lead manager for the offering.

A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (“SEC”) and is effective. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained from Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8055, or by email at [email protected]. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the SEC’s website at http://www.sec.gov. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

Forward-Looking Statements

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the completion and anticipated use of proceeds of the proposed offering. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties relate, among other things, to fluctuations in Ondas’ stock price, changes in market conditions and satisfaction of customary closing conditions related to the proposed public offering. Our actual results, performance, or achievements, including our ability to conduct and complete a public offering of our common stock on terms acceptable to us or at all, could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. There can be no assurance that Ondas will be able to complete the proposed public offering on the anticipated terms. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law.

Investor Relations:

Michael Bowen

ICR, Inc. for Ondas

[email protected]

Media:

Stewart Kantor, CFO

Ondas Holdings Inc.

888.350.9994 Ext. 1009

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Software Technology Mobile/Wireless Other Technology

MEDIA: