Market Newsdesk

BURLINGTON, Ontario, March 31, 2021 (GLOBE NEWSWIRE) — Custom Tattoo Design, a technology and design company specializing in unique tattoo designs for individuals and businesses, has launched an equity crowdfunding campaign on the FrontFundr platform, a Canadian equity crowdfunding company helping businesses raise the capital they need to grow. After identifying new areas where Custom Tattoo Design can utilize their existing customer base to expand their service offering, they are offering Canadian investors the chance to be a part of the company’s expected growth. For as little as $500, Canadians can own shares in Custom Tattoo Design by investing through the FrontFundr platform.

Lee Roller, the founder and CEO of Custom Tattoo Design, said, “We’ve spent the past three years perfecting our business model, to ensure we deliver high quality, custom pieces of artwork to our customers, whether that’s the individual looking to memorialize a part of their history with a tattoo, or the AAA game studio who wants more realistic looking tattoos in their game. Now, we’ve identified additional places where our top of the line design skills and our technological advantages meet and we’re poised to be the next Canadian success story.”

Custom Tattoo Design has plans to grow the business using the funds raised, including:

• Tattoo Connect – an app connecting people looking for tattoos with local artists looking for clients.
• Custom Tattoo Design has identified a large target market in the digital ads space and has allotted an additional $150,000 of increased spending.
• Expansion of business design services to more customers with an improved back-end customer experience and personalized account services.

For more information on how you can invest, visit https://frontfundr.com/customtattoodesign

About Custom Tattoo Design, Inc.: Custom Tattoo Design is the world’s largest online retailer of custom tattoo designs. Founded in 2012, Custom Tattoo Design serves customers in over 100 countries and has completed tens of thousands of custom designs. They’ve worked with individuals and businesses, helping bring the tattoo design aesthetic to all of their customers.

About FrontFundr: FrontFundr uses cutting-edge technology to provide all Canadians with access to investment opportunities in innovative start-ups and growth businesses. It provides companies with an alternative source of capital that helps them to grow, while also enabling them to convert their customers and followers into brand champions and investors.

Lee Roller

Custom Tattoo Design, Inc.

289-230-0463

[email protected]

STAMFORD, Conn., March 31, 2021 (GLOBE NEWSWIRE) — The Lovesac Company (Nasdaq: LOVE) today announced that its financial results for the fourth quarter and fiscal 2021 will be released before market open on Wednesday, April 14, 2021. The Company will host a conference call at 8:30 a.m. Eastern Time to discuss the financial results.

Investors and analysts interested in participating in the call are invited to dial 877-407-3982 (international callers please dial 201-493-6780) approximately 10 minutes prior to the start of the call. A live audio webcast of the conference call will be available online at investor.lovesac.com.

A recorded replay of the conference call will be available within two hours of the conclusion of the call and can be accessed online at investor.lovesac.com for 90 days.

About The Lovesac Company

Based in Stamford, Connecticut, The Lovesac Company is a technology driven company that designs, manufactures and sells unique, high quality furniture derived through its proprietary “Designed for Life” approach which results in products that are built to last a lifetime and designed to evolve as our customers’ lives do. Our current product offering is comprised of modular couches called Sactionals, premium foam beanbag chairs called Sacs, and their associated home decor accessories. Innovation is at the center of our design philosophy with all of our core products protected by a robust portfolio of utility patents. We market and sell our products primarily online directly at www.lovesac.com, supported by direct-to-consumer touch-feel points in the form of our own showrooms as well as through shop-in-shops and pop-up-shops with third party retailers.

Investor Relations Contacts:

Rachel Schacter, ICR
(203) 682-8200
[email protected]

GREENWICH, Conn., March 31, 2021 (GLOBE NEWSWIRE) —  XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced that Sandeep Sakharkar will become the chief information officer of GXO Logistics, Inc., the intended spin-off of XPO’s logistics segment. Sakharkar currently serves as XPO’s senior vice president – logistics technology. He will lead GXO’s global systems development when the logistics segment’s technology organization transitions to GXO.

Sakharkar’s 20-year career includes roles as global vice president – core retail and infrastructure with Foot Locker, Inc., and EMEA director of digital technology with Johnson & Johnson. Earlier, he served as Johnson & Johnson’s IT director for the Asia Pacific region, and as practice head with Cognizant Technology Services in Europe. He holds a post-graduate certification in management from Warwick Business School, Warwick University, in the UK.

Mario Harik, chief information officer of XPO Logistics, said, “Sandeep has an outstanding track record of achieving transformational change for global companies through digitalization and data science. Under his leadership, GXO’s technology organization will have a single-minded focus on realizing the company’s full potential as a leader in e-commerce fulfillment and advanced warehouse automation — major tailwinds driving growth in logistics outsourcing.”

As previously announced, XPO expects to spin off its logistics business in the second half of 2021, with GXO becoming a separate, publicly traded logistics company. GXO will be the second largest contract logistics provider in the world, with a value proposition that includes technology-driven capabilities in e-commerce, food and beverage, consumer electronics, industrial, reverse logistics and other key sectors. The logistics operations currently include approximately 890 locations in 27 countries.

About XPO Logistics

XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 30 countries, with 1,629 locations and more than 100,000 employees. XPO uses its network to help more than 50,000 customers manage their goods most efficiently throughout their supply chains. XPO’s corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Forward-looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including the statements above regarding plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC and the following: economic conditions generally; the severity, magnitude, duration and aftereffects of the COVID-19 pandemic and government responses to the COVID-19 pandemic; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our customers’ demands; our ability to implement our cost and revenue initiatives; our ability to successfully integrate and realize anticipated synergies, cost savings and profit improvement opportunities with respect to acquired companies; matters related to our intellectual property rights; fluctuations in currency exchange rates; fuel price and fuel surcharge changes; natural disasters, terrorist attacks or similar incidents; risks and uncertainties regarding the potential timing and expected benefits of the proposed spin-off of our logistics segment, including final approval for the proposed spin-off and the risk that the spin-off may not be completed on the terms or timeline currently contemplated, if at all; the impact of the proposed spin-off on the size and business diversity of our company; the ability of the proposed spin-off to qualify for tax-free treatment for U.S. federal income tax purposes; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our substantial indebtedness; our ability to raise debt and equity capital; fluctuations in fixed and floating interest rates; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain qualified drivers; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers and efforts by labor organizations to organize our employees; litigation, including litigation related to alleged misclassification of independent contractors and securities class actions; risks associated with our self-insured claims; risks associated with defined benefit plans for our current and former employees; and governmental regulation, including trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the United Kingdom’s exit from the European Union; and competition and pricing pressures.

All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.

Investor Contact

XPO Logistics, Inc.
Tavio Headley
+1-203-413-4006
[email protected]

Media Contact
XPO Logistics, Inc.
Joe Checkler
+1-203-423-2098
[email protected]

SAN FRANCISCO, Calif., March 31, 2021 (GLOBE NEWSWIRE) — Augmedix, Inc. (OTCQX: AUGX), a leading provider of remote medical documentation and live clinical support, today reported financial results for the three months and full year ended December 31, 2020.

“We are very pleased with our strong finish to the year as we made meaningful progress on our operating leverage goals and growth initiatives. And I am particularly proud of the team’s performance given the challenging conditions brought about by the pandemic,” said Manny Krakaris, Chief Executive Officer of Augmedix. “We are uniquely positioned to capitalize on a $6 billion market opportunity, as our intelligent automation approach to the medical note creation process is highly differentiated. We expect our Notes and Live solutions and expanding ancillary services to continue enhancing physician productivity and satisfaction, thereby deepening our relationship with customers and bolstering our value proposition to physician practices and hospitals.”

Fourth Quarter 2020 Financial and Operational Highlights

All comparisons, unless otherwise noted, are to the three months ended December 31, 2019.

• Total revenue was $4.5 million, an increase of 15% compared to $4.0 million
• Dollar-based Net Revenue Retention was 108% for our Health Enterprise customers compared to 114% in 3Q20
• GAAP Gross Margin expanded 980 basis points to 44.2% compared to 34.4%. Cost of revenue decreased by 2.3% as we drove operating efficiency through our platform
• GAAP Operating Expenses were $5.6 million compared to $5.3 million. Operating Expenses grew wholly due to $0.3 million of reverse merger transaction expenses in 2020
• GAAP Net Loss was $3.8 million compared to $3.7 million
• EBITDA losses increased 11.6% to $3.4 million from $3.1 million, driven by the reverse merger transaction expenses
• Cash and restricted cash as of December 31, 2020 was $23.0 million, which includes the proceeds from our $27.4 million capital raise that closed in the fourth quarter

EBITDA is a Non-GAAP financial measure. See “Non-GAAP Financial Measures”.

Full Year 2020 Financial and Operational Highlights

All comparisons, unless otherwise noted, are to the twelve months ended December 31, 2019.

• Total revenue was $16.5 million, an increase of 17% compared to $14.1 million
• Dollar-based Net Revenue Retention was 114% for our Health Enterprise customers compared to 135%
• GAAP Gross Margin expanded 800 basis points to 41.2% compared to 33.2% as we drove operating efficiency through our platform
• Adjusted EBITDA losses, which excludes the $1.1 million of expenses related to the reverse merger transaction, decreased 15% to $12.5 million from $14.7 million

Adjusted EBITDA is a Non-GAAP financial measure. See “Non-GAAP Financial Measures”.

Definition of Key Metrics

Dollar-Based Net Revenue Retention: We define a “Health Enterprise” as a company or network of doctors that has at least 50 clinicians currently employed or affiliated that could utilize our services. Dollar-based net revenue retention is determined as the revenue from Health Enterprises as of twelve months prior to such period end as compared to revenue from these same Health Enterprises as of the current period end, or current period revenue. Current period revenue includes any expansion or new products and is net of contraction or churn over the trailing twelve months but excludes revenue from new Health Enterprises in the current period. We believe growth in dollar-based net revenue retention is a key indicator of the performance of our business as it demonstrates our ability to increase revenue across our existing customer base through expansion of users and products, as well as our ability to retain existing customers.

About Augmedix

Augmedix converts natural clinician-patient conversation into medical documentation and provides live support, including referrals, orders, and reminders, so clinicians can focus on what matters most: patient care. The Augmedix platform is powered by a combination of proprietary automation modules and human-expert assistants operating in HIPAA-secure locations to generate accurate, comprehensive, and timely-delivered medical documentation. Augmedix services are compatible with over 37 specialties and are trusted by over one dozen American health systems and hundreds of independent clinicians supporting medical offices, clinics, hospitals and telemedicine. We estimate that our solution saves clinicians 2–3 hours per day, increases productivity by as much as 20%, and increases clinicians’ satisfaction with work-life balance over 49%. To learn more about Augmedix, visit augmedix.com.

Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: adjusted operating expenses, EBITDA, and adjusted EBITDA. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our recurring core business operating results, like one-time transaction costs related to the reverse merger. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to our historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business.

There are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with GAAP.

Forward-Looking Statements

This press release contains “forward-looking statements” that involve a number of risks and uncertainties, including but not limited to our Notes and Live offerings and the quotation on the OTC market. Words such as “believes,” “may,” “will,” “estimates,” “potential,” “continues,” “anticipates,” “intends,” “expects,” “could,” “would,” “projects,” “plans,” “targets,” and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management’s expectations as of the date of this filing and are subject to a number of risks, uncertainties and assumptions, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in our Form 10-K filed with the Securities and Exchange Commission on March 31, 2021 as well as other documents that may be filed by us from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: our expectations regarding changes in regulatory requirements; our ability to interoperate with the electronic health record systems of our customers; our reliance on vendors; our ability to attract and retain key personnel; the competition to attract and retain remote documentation specialists; anticipated trends, growth rates, and challenges in our business and in the markets in which we operate; our ability to further penetrate our existing customer base; our ability to protect and enforce our intellectual property protection and the scope and duration of such protection; developments and projections relating to our competitors and our industry, including competing dictation software providers, third-party, non-real time medical note generators and real time medical note documentation services; the impact of current and future laws and regulations; the impact of the COVID-19 crisis on our business, results of operations and future growth prospects. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investors:

Caroline Paul
Gilmartin Group
[email protected]

Media:

Kaila Grafeman
Augmedix
[email protected]

(1) Financials for the fiscal years presented are audited through December 31, 2020. Quarterly financials presented through December 31, 2020 are unaudited.