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Hermosa Beach Police Department Capt. Landon Phillips was one of more than 200 law enforcement officers who recently graduated from the FBI National Academy in Quantico, Virginia. Phillips has been with the HBPD for nearly 23 years and is part of the graduating class of the 292nd session of the National Academy, which had 257 graduates, according to a press release. “To be able to provide excellent service,” Phillips said in a statement about the HBPD, “we invest in our employees to provide them the best training and tools so they can be leaders in their profession.” “I learned best practices from the instructors and the many other executive-level students from agencies all over the world,” Phillips added about the FBI academy. “I was able to form friendships and partnerships with a network of police executives that I will rely on to enhance our department’s service and address challenges facing our community now and in the future.” The National Academy offers 11 weeks of advanced communication, leadership and fitness training, according to a press release from the nonprofit FBI National Academy Associates, Inc. “On average, these officers have 21 years of law enforcement experience,” the release said, “and usually return to their agencies to serve in executive-level positions.” Phillips started as a police officer with HBPD in April 2002, according to his LinkedIn page, and has served as sergeant, lieutenant, acting captain and captain. Nearly 56,000 graduates have competed the National Academy since 1935, according to the press release. It’s held at the FBI Training Academy in Quantico, where special agents and intelligence analysts are trained. “FBI Academy instructors, special agents, and other staff with advanced degrees provide the training,” the press release said. “Many instructors are recognized internationally in their fields.” HBPD Chief Paul LeBaron also graduated from the National Academy in 2015, which changed his life “personally and professionally,” he said in a statement. “I continually draw on the worldwide resources that come from being a graduate,” LeBaron said, “and I have implemented many of the National Academy’s key concepts right here at the Hermosa Beach Police Department including building community trust, technology based crime fighting and personal and employee wellness.” FBI Director Christopher Wray delivered remarks at the Dec. 12 graduation ceremony, which included law enforcement officials from 48 states, the District of Columbia and Guam, according to the press release.In addition to getting J.T. Miller back in the fold , the Canucks will also have defenseman Derek Forbort in the lineup Thursday against the Panthers, head coach Rick Tocchet told Brendan Batchelor of Sportsnet 650 . He’s coming off injured reserve, which the Canucks have the roster space to do without a corresponding move. Forbort has spent most of his brief time in Vancouver on the injured list. After signing a one-year, $1.5M deal in free agency, Forbort played three games before taking a leave of absence for personal reasons. He then sustained a knee injury in his return to the lineup on Nov. 2 that did not require surgery but has nonetheless kept him out since. He began skating with the team in a regular jersey earlier this week, per Batchelor, signaling a return was imminent. The veteran shutdown presence averaged 16:30 per game when in the lineup earlier this season, posting an assist and a -2 rating. Vancouver did control 51.8% of shot attempts with Forbort on the ice at even strength, but his minutes were quantity over quality — they lost the expected goal battle 2.7 to 1.4. Before signing in Vancouver, the 2010 first-round pick had spent the last three years with the Bruins. His final season in Beantown was nothing to write home about, posting just four assists in 35 games while averaging under 18 minutes per game for the second season in a row. He joined Jake DeBrusk and Danton Heinen as UFAs who left Boston for Vancouver. Forbort will play a bottom-pairing role alongside Mark Friedman in his return to the lineup, multiple reports indicate. Erik Brännström and Vincent Desharnais are projected to be healthy scratches. This article first appeared on Pro Hockey Rumors and was syndicated with permission.RALEIGH, N.C. (AP) — The very close election for a North Carolina Supreme Court seat heads next to a hand recount even as election officials announced a machine recount of over 5.5 million ballots resulted in no margin change between the candidates. The statewide machine recount — in which ballots were run again through tabulators — that wrapped up this week showed Democratic Associate Justice Allison Riggs with a 734-vote lead over Republican challenger Jefferson Griffin, who is a Court of Appeals judge. Most county election boards reported minor vote changes from the machine recount requested by Griffin. But State Board of Elections data showed the post-recount lead exactly the same as what Riggs held after all 100 counties fully completed their ballot canvass in November. Griffin led Riggs by about 10,000 votes on election night, but that lead dwindled and flipped to Riggs as tens of thousands of qualifying provisional and absentee ballots were added to the totals through the canvass. Griffin, who already has pending election protests challenging the validity of more than 60,000 ballots counted statewide, has asked for a partial hand-to-eye recount, which county boards will start Wednesday or Thursday. The partial hand recount applies to ballots in 3% of the voting sites in all 100 counties, chosen at random Tuesday by the state board. Once the partial recount is complete, a statewide hand recount would be ordered if the sample results differ enough from the machine recount that the result would be reversed if the difference were extrapolated to all ballots. Riggs, who was appointed to the Supreme Court in 2023 and now seeks an eight-year term, again claimed victory Tuesday. In a campaign news release, spokesperson Embry Owen said Griffin “needs to immediately concede – losing candidates must respect the will of voters and not needlessly waste state resources.” Riggs is one of two Democrats on the seven-member court. Through attorneys, Griffin has challenged ballots that he says may not qualify for several reasons and cast doubt on the election result. Among them: voter registration records of some voters casting ballots lack driver's license or partial Social Security numbers, and overseas voters never living in North Carolina may run afoul of state residency requirements. State and county boards are considering the protests. Griffin's attorneys on Monday asked the state board to accelerate the matters before it and make a final ruling early next week. "Our priority remains ensuring that every legal vote is counted and that the public can trust the integrity of this election,” state Republican Party spokesperson Matt Mercer said in a news release. Final rulings by the state board can be appealed to state court. Joining Griffin in protests are three Republican legislative candidates who still trailed narrowly in their respective races after the machine recounts. The Supreme Court race and two of these three legislative races have not been called by The Associated Press. The key pending legislative race is for a House seat covering Granville County and parts of Vance County. Republican Rep. Frank Sossamon trails Democratic challenger Bryan Cohn by 228 votes, down from 233 votes before the recount. Sossamon also asked for a partial hard recount in his race, which was to begin Tuesday. Should Cohn win, Republicans will fall one seat short of the 72 needed in the 120-member House to retain its veto-proof majority — giving more leverage to Democratic Gov.-elect Josh Stein in 2025. Senate Republicans already have won 30 of the 50 seats needed to retain its supermajority in their chamber. The AP on Tuesday did call another legislative race not subject to a protest, as Mecklenburg County GOP Rep. Tricia Cotham won her reelection bid over Democrat Nicole Sidman. A machine recount showed Cotham ahead of Sidman by 213 votes, compared to 216 after the county canvass. Cotham’s switch from the Democrats to the Republicans in April 2023 secured the Republicans' 72-seat veto-proof majority so that Democratic Gov. Roy Cooper’s vetoes could be overridden by relying solely on GOP lawmakers.
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NEW YORK , Dec. 24, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Enphase Energy, Inc. (NASDAQ: ENPH) between April 25, 2023 and October 22, 2024 , both dates inclusive (the "Class Period"), of the important February 11, 2025 lead plaintiff deadline. So what: If you purchased Enphase securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. What to do next: To join the Enphase class action, go to https://rosenlegal.com/submit-form/?case_id=25593 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 11, 2025 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Details of the case: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Enphase's business and operations. Specifically, defendants systematically overstated Enphase's ability to maintain its pricing levels and market share for microinverter products in Europe in the face of competition from low-cost, Chinese alternatives. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Enphase class action, go to https://rosenlegal.com/submit-form/?case_id=25593 https://rosenlegal.com/submit-form/?case_id=28116 call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/enph-investors-have-opportunity-to-lead-enphase-energy-inc-securities-fraud-lawsuit-302338939.html SOURCE THE ROSEN LAW FIRM, P. A.Ace badminton player PV Sindhu tied the knot with Venkata Datta Sai , Executive Director at Posidex Technologies, in an intimate wedding ceremony on Sunday, December 22, 2024. The couple exchanged vows in the presence of family and close friends. Two days later, Sindhu took to social media to share her first reaction, posting stunning pictures from the occasion with a simple heart emoji. The couple looked radiant in traditional wedding attire, beaming with happiness. On December 24, a grand wedding reception followed in Hyderabad, where megastar Chiranjeevi made a stylish entrance. The actor, dressed in a casual blue half-shirt and white pants, exuded his signature swag as he arrived at the venue, escorted by his security team. Ahead of the reception, Sindhu shared her love story with Vogue India, revealing a tale that felt like destiny. The couple, who had known each other for years as friends, reconnected on a flight in 2022. Sindhu described the moment as "almost like love at first sight," saying, “Everything changed when we reconnected on a flight. That journey brought us closer, and it felt like the stars aligned. From that moment on, everything just felt right.” Deepika Padukone and PV Sindhu get papped at they step out for dinner Sindhu also reflected on her engagement, emphasizing its intimate and emotional nature. She said, “It wasn’t about grandeur but about celebrating this milestone with the people who truly matter. The moment was emotional, meaningful, and something we will cherish forever.” PV Sindhu, one of India’s most celebrated athletes, has achieved unparalleled success in badminton, including five world championship medals and two Olympic medals - silver in Rio 2016 and bronze in Tokyo 2020. Her remarkable career saw her reach a career-high world ranking of No. 2 in 2017.MORGANTOWN, W.Va. (AP) — Oklahoma co-defensive coordinator Zac Alley is being reunited with Rich Rodriguez at West Virginia. Rodriguez, who was hired for his second stint as West Virginia's coach on Dec. 12, announced Sunday that he hired the 31-year-old Alley as defensive coordinator and linebackers coach. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a weekPostal Service warns of text-message scam
BEAVER CREEK, Colo. -- As the situation stands, snowboarder/ski racer Ester Ledecka has two Olympic races on the same day in 2026, at nearly the same time and in Italian mountain towns hours apart. The Czech Republic standout simply can’t make both starting gates. So she may have a big decision to make on Feb. 8, 2026 — race in the women's downhill at the Milan-Cortina Games or go for a three-peat in snowboarding’s parallel giant slalom. Unless, of course, her lobbying efforts pay off. Ledecka said she's going through her country's Olympic committee to reach out and see if one of the events can be switched. The Winter Games schedule was just recently released. “It’s like someone has broken your dream,” the 29-year-old Ledecka said after a training run in Beaver Creek as she prepares for a World Cup downhill and super-G this weekend. “So please change it. Please, please, please. It’s my biggest dream to do both. I can create a great show for people.” Ledecka is the rare athlete to do both winter sports at such a gold medal-winning level. Nearly seven years ago, Ledecka was a surprise winner in the super-G at the Pyeongchang Games — from bib No. 26, no less. A week later, she captured gold in the parallel GS (PGS). At the 2022 Beijing Winter Games, she defended her PGS crown along with finishing fifth in the super-G, 27th in the downhill and fourth in the Alpine combined. To amend an Olympic schedule would not be unprecedented. Before the 2016 Rio de Janeiro Games, the International Olympic Committee and the governing body for track and field accommodated a request from Allyson Felix to go for a 200-400 double. She earned a silver in the 400. In 1996, the schedule was shifted so American sprinter Michael Johnson could run in the 200 and 400 at the Atlanta Games. He won gold in both. “I would appreciate it,” said Ledecka, who started skiing at 2 years old and snowboarding three years later. “They’re fighting (for it) right now.” The current schedule has snowboarding parallel giant slalom holding a qualifying round from 9 a.m. to 11 on Feb. 8 in Livigno, Italy. The final is set for 1 p.m. Meanwhile, the women's downhill is set to take place in Cortina at 11:30 a.m. It's about a 4-hour drive between the two events. For now, she's leaning toward snowboarding. Only because a few days later she could ski race in a super-G. “I was quite sad about that fact,” Ledecka said of the conflict between events. "We'll see. It’s still quite far away.” Ledecka has 88 World Cup starts in skiing, with 10 podium finishes and four wins. She has 63 World Cup starts in snowboarding, featuring 39 podium finishes and 25 wins. “I don’t know how she does it,” said American ski racer Jacqueline Wiles, who dabbled in snowboarding as a kid. “It’s absolutely insane.” Ledecka enjoys both sports for different reasons. In skiing, it's for the speed. For snowboarding, it's the execution of a turn. It's not always easy splitting her time between the two sports, fitting in training around events. She won a PGS race on Nov. 30 in China before arriving in Beaver Creek. After this, it's off to St. Moritz, Switzerland, for more ski racing. She's currently traveling with eight snowboards and 20 pairs of skis. “You cannot believe how stacked the ski room is right now,” Ledecka cracked. “I really admire my tech guy and how he's handling it all. I’m very happy to have my team help me do this, my dream, of going from the snowboard World Cup to the ski World Cup. I'm having a lot of fun.” Notes: Lara Gut-Behrami of Switzerland had the fastest time in the second training run Thursday. Italians racers Sofia Goggia and Federica Brignone were both within a second. ... Lindsey Vonn is not expected to forerun before the third and final training session Friday. The 40-year-old Vonn still plans on testing out the course before this weekend's races on the Birds of Prey course. ___ AP skiing: https://apnews.com/hub/alpine-skiing
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BEDFORD, Mass. , Dec. 3, 2024 /PRNewswire/ -- iRobot Corporation (NASDAQ: IRBT), a leader in consumer robots, today announced that the company's management team will present at the following investor conferences: Raymond James TMT and Consumer Conference Date: Monday, December 9, 2024 Location: New York, NY Presentation: 3:00 p.m. ET ICR Conference 2025 Date: Monday, January 13, 2025 Location: Orlando, FL Presentation: 2:30 p.m. ET 27th Annual Needham Growth Conference Date: Wednesday, January 15, 2025 Location: New York, NY Presentation: 8:45 a.m. ET iRobot Chief Executive Officer Gary Cohen and Chief Financial Officer Karian Wong will be available for one-on-one meetings with investors during the three events. Live webcasts of the presentations will be available on the company's investor relations website, https://investor.irobot.com . Archived versions of the webcasts will be available after the event. For more information, please visit https://investor.irobot.com . About iRobot Corporation iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot's product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/irobot-to-present-at-upcoming-investor-conferences-302321521.html SOURCE iRobot Corporation
Although many more structures and sections of guideway are under construction, the Authority has a long way to go just to complete the first 119-mile segment it decided to start on. It has yet to break ground along the rest of the Merced to Bakersfield route, let alone begin building links to Los Angeles or the Bay Area. With the project unlikely to receive any new federal funds from the incoming administration, now is a good time to revisit its scope. “[L]et’s level about High-Speed Rail. I have nothing but respect for Governor Brown’s and Governor Schwarzenegger’s ambitious vision. I share it. And there’s no doubt that our state’s economy and quality of life depend on improving transportation. “But let’s be real. The project, as currently planned, would cost too much and take too long. There’s been too little oversight and not enough transparency. “Right now, there simply isn’t a path to get from Sacramento to San Diego, let alone from San Francisco to LA. I wish there were. “However, we do have the capacity to complete a high-speed rail link between Merced and Bakersfield. “I know that some critics will say this is a ’train to nowhere.' But that’s wrong and offensive.” Under pressure from project proponents, Newsom quickly walked back his plan to truncate the project to the Central Valley. But, nearly six years after his address, the facts he stated remain largely unchanged. Another justification for California high-speed rail is the need to reduce greenhouse gas emissions. But California’s lower-than-expected population growth will mean fewer riders and thus fewer car and plane trips replaced. Further, back in 2008, we were not expecting that electric vehicle technology would evolve to the point that state government would be comfortable banning new internal combustion engine car sales by 2035. Looking forward to 2050, it is now reasonable to assume that the vast majority of car trips that high-speed rail would replace will not be carbon emitting. Given the lack of new federal funding, a schedule in which we can be confident, and a strong justification based on capacity needs or climate change, a full buildout of high-speed rail project no longer makes sense for California. The governor and legislators should absorb the current set of facts and reassess the project, rather than keeping it on autopilot or making it a point of resistance to the incoming Trump administration. While that might feel good, it would be a disservice to California taxpayers who will have to cover the bulk of project costs. Newsom had it right in 2019. While we can’t simply shut down and leave an unfinished line, we should determine the least costly way of deriving something usable from the $13.6 billion spent thus far and then wind down the project.BOULDER, Colo. — Travis Hunter is a throwback-type player — an elite receiver one moment, a lockdown cornerback the next — who rarely leaves the field and has a knack for making big plays all over it. The Colorado Buffaloes' two-way standout (see: unicorn) even celebrates at an elite level, unveiling imaginative dance moves following touchdowns and interceptions, some of which include the Heisman Trophy pose. It's one of the many awards he's in line to win. Hunter is the The Associated Press college football player of the year, receiving 26 of 43 votes Thursday from a panel of AP Top 25 voters. Boise State tailback Ashton Jeanty finished second with 16 votes and Arizona State running back Cameron Skattebo received one vote. "Couldn't do what I do without my team," Hunter said in an email on a trip to Las Vegas for an awards ceremony. "So I view being up for these awards as team awards." A player with his particular set of skills doesn't come around that often. He's a flashback to the days of Charles Woodson at Michigan or Champ Bailey at Georgia. Or even his coach, Deion Sanders, a two-way star in the NFL. The prospect of significant playing time on both sides of the ball is what led Hunter to join Sanders at Jackson State and why he followed Sanders to Boulder. "Coach Prime was the only coach who would consider allowing me to do what I'm doing," said Hunter, who's expected to be a top-five pick next spring in the NFL draft, possibly even the No. 1 overall selection. "He did it and knows what it takes — how much you have to be ready on both sides of the ball." Want to fuel Hunter? Simply tell him he can't. "I'm motivated when people tell me I can't do something," Hunter said. "That I can't dominate on both sides of the ball. I want to be an example for others that anything is possible. Keep pursuing your dreams." Hunter helped the 20th-ranked Buffaloes to a 9-3 record this season and a berth in the Alamo Bowl against No. 17 BYU (10-2) on Dec. 28. He played 688 defensive snaps and 672 more on offense — the lone Power Four conference player with 30-plus snaps on both sides of the ball, according to Colorado research. Hunter has already won a second straight Paul Hornung award as the game's most versatile player. He's up for the Walter Camp (player of the year), Maxwell (most outstanding player), the Biletnikoff (best receiver) and Bednarik (top defensive player) awards. And, of course, the Heisman, where he's the odds-on favorite to win over Jeanty this weekend. Hunter can join the late Rashaan Salaam as the only Colorado players to capture the Heisman. Salaam won it in 1994 after rushing for 2,055 yards. Hunter wasn't a finalist for the Jim Thorpe Award, which goes to the nation's top defensive back. That drew the wrath of Sanders, who earned the award with Florida State in 1988 and vowed to give his trophy to Hunter. Hunter's high school coach, Lenny Gregory, knew he had a special player the summer of Hunter's freshman year. Gregory, then the coach at Collins Hill in Georgia, had a conditioning test for his players — run six 200-yard dashes with a minute rest in between. Defensive backs had to complete each in under 32 seconds. Hunter never even got winded. He played safety/cornerback and receiver as a freshman and helped Collins Hill to a state title his senior season. "I remember just talking to colleges the spring of his ninth-grade year and telling coaches that this kid's going to be the No. 1 player in the country," recounted Gregory, who's now the coach at Gordon Central High in Calhoun, Georgia. "They'd look at him and laugh at me, 'What are you talking about? This scrawny kid? He's not big enough.' I was like, 'Just watch. Just watch.'" Hunter finished the regular season with 92 catches for 1,152 yards and 14 touchdowns as a receiver. On defense, he had four interceptions, broke up 11 passes and forced one crucial fumble, which secured an OT win over Baylor. Overall, Hunter had 92 receptions and allowed 22. He hauled in 14 receiving TDs and allowed just one. He was responsible for 53 first downs and gave up just six. He was targeted 119 times by Shedeur Sanders & Co. but only 39 times by opposing QBs. Hunter's likely final game in Boulder, a rout of Oklahoma State, was a three-touchdown, one-interception performance. "I'm used to seeing him do all this spectacular stuff," Shedeur Sanders said. "I'm used to all this stuff — you all are just now seeing it on national stage." Get local news delivered to your inbox!Neuer gets sent off for 1st time and Bayern Munich exits German Cup early againAwarded industry-first design win from a top-four hyperscaler SANTA CLARA, Calif. , Dec. 3, 2024 /PRNewswire/ -- Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technologies and services, announced financial results for its third quarter fiscal year 2025 ended November 3, 2024. "Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler," said Pure Storage Chairman and CEO Charles Giancarlo . "This win is the vanguard for Pure Flash technology to become the standard for all hyperscaler online storage, providing unparalleled performance and scalability while also reducing operating costs and power consumption." Third Quarter Financial Highlights "Our third quarter results exceeded our expectations on revenue and operating income, demonstrating the sustaining strength of our business models," said Kevan Krysler , Pure Storage CFO. "We remain focused on driving both near-term results and long-term value creation through disciplined investments and innovation that position Pure as the leader in transforming the data storage landscape." Third Quarter Company Highlights Industry Recognition and Accolades Fourth Quarter and FY25 Guidance These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Pure has not reconciled its guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because certain items that impact these measures are not within Pure's control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort. Conference Call Information Pure will host a teleconference to discuss the third quarter fiscal 2025 results at 2:00 pm PT today, December 3, 2024. A live audio broadcast of the conference call will be available on the Pure Storage Investor Relations website . Pure will also post its earnings presentation and prepared remarks to this website concurrent with this release. A replay will be available following the call on the Pure Storage Investor Relations website or for two weeks at 1-800-770-2030 (or 1-647-362-9199 for international callers) with passcode 5667482. Additionally, Pure is scheduled to participate at the following investor conferences: Wells Fargo 8th Annual TMT Summit Date: Wednesday, December 4, 2024 Time: 1:30 p.m. PT / 4:30 p.m. ET Chief Technology Officer Rob Lee 27th Annual Needham Growth Conference Date: Thursday, January 16, 2025 Time: 9:45 a.m. PT / 12:45 p.m. ET Founder & Chief Visionary Officer John "Co z" Colgrove Chief Financial Officer Kevan Krysler The presentations will be webcast live and archived on Pure's Investor Relations website at investor.purestorage.com . ---- About Pure Storage Pure Storage (NYSE: PSTG) delivers the industry's most advanced data storage platform to store, manage, and protect the world's data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage as-a-Service platform across on premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It's easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com . Connect with Pure Blog LinkedIn Twitter Facebook Pure Storage, the Pure P Logo, Portworx, and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks . Other names may be trademarks of their respective owners. Forward Looking Statements This press release contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our opportunity with hyperscale and AI environments, our ability to meet hyperscalers' performance and price requirements, our ability to meet the needs of hyperscalers for the entire spectrum of their online storage use cases, the timing and magnitude of large orders, including sales to hyperscalers, the timing and amount of revenue from hyperscaler licensing and support services, future period financial and business results, demand for our products and subscription services, including Evergreen//One, the relative sales mix between our subscription and consumption offerings and traditional capital expenditure sales, our technology and product strategy, specifically customer priorities around sustainability, the environmental and energy saving benefits to our customers of using our products, our ability to perform during current macro conditions and expand market share, our sustainability goals and benefits, the impact of inflation, economic or supply chain disruptions, our expectations regarding our product and technology differentiation, new customer acquisition, and other statements regarding our products, business, operations and results. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, which are available on our Investor Relations website at investor.purestorage.com and on the SEC website at www.sec.gov . Additional information is also set forth in our Annual Report on Form 10-K for the year ended February 4, 2024. All information provided in this release and in the attachments is as of December 3, 2024, and Pure undertakes no duty to update this information unless required by law. Key Performance Metric Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four. Non-GAAP Financial Measures To supplement our unaudited condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, Pure uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses such as stock-based compensation expense, payments to former shareholders of acquired companies, payroll tax expense related to stock-based activities, amortization of debt issuance costs related to debt, and amortization of intangible assets acquired from acquisitions that may not be indicative of our ongoing core business operating results. Pure believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures" and "Reconciliation from net cash provided by operating activities to free cash flow," included at the end of this release.
Fort Worth, Tarrant County receive federal funds to reduce sexual assault kit backlogMINNEAPOLIS, Dec. 03, 2024 (GLOBE NEWSWIRE) -- SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail supply chain cloud services, today announced that management will present at the Nasdaq 51st Investor Conference on Tuesday, December 10, 2024, at 3:00 PM GMT. A webcast of the presentation will be available on the company’s investor relations website at http://investors.spscommerce.com/events.cfm . About SPS Commerce SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so our customers can focus on what they do best. To date, more than 120,000 companies in retail, grocery, distribution, supply, and logistics have chosen SPS as their retail network. SPS has achieved 95 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com . SPS COMMERCE, SPS, SPS logo and INFINITE RETAIL POWER are marks of SPS Commerce, Inc. and registered in the U.S. Patent and Trademark Office, along with other SPS marks. Such marks may also be registered or otherwise protected in other countries. Contact: Investor Relations The Blueshirt Group Irmina Blaszczyk Lisa Laukkanen SPSC@blueshirtgroup.com 415-217-4962 SPS-FWASHINGTON (Reuters) -Jimmy Carter, the earnest Georgia peanut farmer who as U.S. president struggled with a bad economy and the Iran hostage crisis but brokered peace between Israel and Egypt and later received the Nobel Peace Prize for his humanitarian work, died at his home in Plains, Georgia, on Sunday, the Carter Center said. He was 100. “My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love,” said Chip Carter, the former president’s son. “My brothers, sister, and I shared him with the rest of the world through these common beliefs. The world is our family because of the way he brought people together, and we thank you for honoring his memory by continuing to live these shared beliefs.” The Carter Center said there will be public observances in Atlanta and Washington. These events will be followed by a private interment in Plains, it said. Final arrangements for the former president’s state funeral are still pending, according to the center. Jimmy Carter, a Democrat, served as president from January 1977 to January 1981 after defeating incumbent Republican President Gerald Ford in the 1976 U.S. election. Carter was swept from office four years later in an electoral landslide as voters embraced Republican challenger Ronald Reagan, the former actor and California governor. Carter lived longer after his term in office than any other U.S. president. Along the way, he earned a reputation as a better former president than he was a president – a status he readily acknowledged. His one-term presidency was marked by the highs of the 1978 Camp David accords between Israel and Egypt, bringing some stability to the Middle East. But it was dogged by an economy in recession, persistent unpopularity and the embarrassment of the Iran hostage crisis that consumed his final 444 days in office. In recent years, Carter had experienced several health issues including melanoma that spread to his liver and brain. Carter decided to receive hospice care in February 2023 instead of undergoing additional medical intervention. His wife, Rosalynn Carter, died on Nov. 19, 2023, at age 96. He looked frail when he attended her memorial service and funeral in a wheelchair. Carter left office profoundly unpopular but worked energetically for decades on humanitarian causes. He was awarded the Nobel Peace Prize in 2002 in recognition of his “untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” Carter had been a centrist as governor of Georgia with populist tendencies when he moved into the White House as the 39th U.S. president. He was a Washington outsider at a time when America was still reeling from the Watergate scandal that led Republican Richard Nixon to resign as president in 1974 and elevated Ford from vice president. “I’m Jimmy Carter and I’m running for president. I will never lie to you,” Carter promised with an ear-to-ear smile. Asked to assess his presidency, Carter said in a 1991 documentary: “The biggest failure we had was a political failure. I never was able to convince the American people that I was a forceful and strong leader.” Despite his difficulties in office, Carter had few rivals for accomplishments as a former president. He gained global acclaim as a tireless human rights advocate, a voice for the disenfranchised and a leader in the fight against hunger and poverty, winning the respect that eluded him in the White House. Carter won the Nobel Peace Prize in 2002 for his efforts to promote human rights and resolve conflicts around the world, from Ethiopia and Eritrea to Bosnia and Haiti. His Carter Center in Atlanta sent international election-monitoring delegations to polls around the world. A Southern Baptist Sunday school teacher since his teens, Carter brought a strong sense of morality to the presidency, speaking openly about his religious faith. He also sought to take some pomp out of an increasingly imperial presidency – walking, rather than riding in a limousine, in his 1977 inauguration parade. The Middle East was the focus of Carter’s foreign policy. The 1979 Egypt-Israel peace treaty, based on the 1978 Camp David accords, ended a state of war between the two neighbors. Carter brought Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin to the Camp David presidential retreat in Maryland for talks. Later, as the accords seemed to be unraveling, Carter saved the day by flying to Cairo and Jerusalem for personal shuttle diplomacy. The treaty provided for Israeli withdrawal from Egypt’s Sinai Peninsula and establishment of diplomatic relations. Begin and Sadat each won a Nobel Peace Prize in 1978. By the 1980 election, the overriding issues were double-digit inflation, interest rates that exceeded 20% and soaring gas prices, as well as the Iran hostage crisis that brought humiliation to America. These issues marred Carter’s presidency and undermined his chances of winning a second term. HOSTAGE CRISIS On Nov. 4, 1979, revolutionaries devoted to Iran’s Ayatollah Ruhollah Khomeini had stormed the U.S. Embassy in Tehran, seized the Americans present and demanded the return of the ousted shah Mohammad Reza Pahlavi, who was backed by the United States and was being treated in a U.S. hospital. The American public initially rallied behind Carter. But his support faded in April 1980 when a commando raid failed to rescue the hostages, with eight U.S. soldiers killed in an aircraft accident in the Iranian desert. Carter’s final ignominy was that Iran held the 52 hostages until minutes after Reagan took his oath of office on Jan. 20, 1981, to replace Carter, then released the planes carrying them to freedom. In another crisis, Carter protested the former Soviet Union’s 1979 invasion of Afghanistan by boycotting the 1980 Olympics in Moscow. He also asked the U.S. Senate to defer consideration of a major nuclear arms accord with Moscow. Unswayed, the Soviets remained in Afghanistan for a decade. Carter won narrow Senate approval in 1978 of a treaty to transfer the Panama Canal to the control of Panama despite critics who argued the waterway was vital to American security. He also completed negotiations on full U.S. ties with China. Carter created two new U.S. Cabinet departments – education and energy. Amid high gas prices, he said America’s “energy crisis” was “the moral equivalent of war” and urged the country to embrace conservation. “Ours is the most wasteful nation on earth,” he told Americans in 1977. In 1979, Carter delivered what became known as his “malaise” speech to the nation, although he never used that word. “After listening to the American people I have been reminded again that all the legislation in the world can’t fix what’s wrong with America,” he said in his televised address. “The threat is nearly invisible in ordinary ways. It is a crisis of confidence. It is a crisis that strikes at the very heart and soul and spirit of our national will. The erosion of our confidence in the future is threatening to destroy the social and the political fabric of America.” As president, the strait-laced Carter was embarrassed by the behavior of his hard-drinking younger brother, Billy Carter, who had boasted: “I got a red neck, white socks, and Blue Ribbon beer.” ‘THERE YOU GO AGAIN’ Jimmy Carter withstood a challenge from Massachusetts Senator Edward Kennedy for the 1980 Democratic presidential nomination but was politically diminished heading into his general election battle against a vigorous Republican adversary. Reagan, the conservative who projected an image of strength, kept Carter off balance during their debates before the November 1980 election. Reagan dismissively told Carter, “There you go again,” when the Republican challenger felt the president had misrepresented Reagan’s views during one debate. Carter lost the 1980 election to Reagan, who won 44 of the 50 states and amassed an Electoral College landslide. James Earl Carter Jr. was born on Oct. 1, 1924, in Plains, Georgia, one of four children of a farmer and shopkeeper. He graduated from the U.S. Naval Academy in 1946, served in the nuclear submarine program and left to manage the family peanut farming business. He married his wife, Rosalynn, in 1946, a union he called “the most important thing in my life.” They had three sons and a daughter. Carter became a millionaire, a Georgia state legislator and Georgia’s governor from 1971 to 1975. He mounted an underdog bid for the 1976 Democratic presidential nomination, and out-hustled his rivals for the right to face Ford in the general election. With Walter Mondale as his vice presidential running mate, Carter was given a boost by a major Ford gaffe during one of their debates. Ford said that “there is no Soviet domination of Eastern Europe and there never will be under a Ford administration,” despite decades of just such domination. Carter edged Ford in the election, even though Ford actually won more states – 27 to Carter’s 23. Not all of Carter’s post-presidential work was appreciated. Former President George W. Bush and his father, former President George H.W. Bush, both Republicans, were said to have been displeased by Carter’s freelance diplomacy in Iraq and elsewhere. In 2004, Carter called the Iraq war launched in 2003 by the younger Bush one of the most “gross and damaging mistakes our nation ever made.” He called George W. Bush’s administration “the worst in history” and said Vice President Dick Cheney was “a disaster for our country.” In 2019, Carter questioned Republican Donald Trump’s legitimacy as president, saying “he was put into office because the Russians interfered on his behalf.” Trump responded by calling Carter “a terrible president.” Carter also made trips to communist North Korea. A 1994 visit defused a nuclear crisis, as President Kim Il Sung agreed to freeze his nuclear program in exchange for resumed dialogue with the United States. That led to a deal in which North Korea, in return for aid, promised not to restart its nuclear reactor or reprocess the plant’s spent fuel. But Carter irked Democratic President Bill Clinton’s administration by announcing the deal with North Korea’s leader without first checking with Washington. In 2010, Carter won the release of an American sentenced to eight years hard labor for illegally entering North Korea. Carter wrote more than two dozen books, ranging from a presidential memoir to a children’s book and poetry, as well as works about religious faith and diplomacy. His book “Faith: A Journey for All,” was published in 2018.
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Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" Thanks for your interest in Kalkine Media's content! To continue reading, please log in to your account or create your free account with us.MAP Meeting Evolves into MedSpa Pro, Builds Momentum for Record-Breaking 2025SANTA CLARA, Calif. , Dec. 3, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the third quarter of fiscal year 2025. Net revenue for the third quarter of fiscal 2025 was $1.516 billion , $66 .0 million above the mid-point of the Company's guidance provided on August 29, 2024 . GAAP net loss for the third quarter of fiscal 2025 was $(676.3) million, or $(0.78) per diluted share. Non-GAAP net income for the third quarter of fiscal 2025 was $373 .0 million, or $0.43 per diluted share. Cash flow from operations for the third quarter was $536.3 million . "Marvell's fiscal third quarter 2025 revenue grew 19% sequentially, well above the mid-point of our guidance, driven by strong demand from AI. For the fourth quarter, we are forecasting another 19% sequential revenue growth at the midpoint of guidance, while year-over-year, we expect revenue growth to accelerate significantly to 26%, marking the beginning of a new era of growth for Marvell," said Matt Murphy , Marvell's Chairman and CEO. "The exceptional performance in the third quarter, and our strong forecast for the fourth quarter, are primarily driven by our custom AI silicon programs, which are now in volume production, further augmented by robust ongoing demand from cloud customers for our market-leading interconnect products. We look forward to a strong finish to this fiscal year and expect substantial momentum to continue in fiscal 2026." Fourth Quarter of Fiscal 2025 Financial Outlook GAAP diluted EPS is calculated using basic weighted-average shares outstanding when there is a GAAP net loss, and calculated using diluted weighted-average shares outstanding when there is a GAAP net income. Non-GAAP diluted EPS is calculated using diluted weighted-average shares outstanding. Conference Call Marvell will conduct a conference call on Tuesday, December 3, 2024 at 1:45 p.m. Pacific Time to discuss results for the third quarter of fiscal year 2025. Interested parties may join the conference call without operator assistance by registering and entering their phone number at https://emportal.ink/4fngg8m to receive an instant automated call back. To join the call with operator assistance, please dial 1-800-836-8184 or 1-646-357-8785. The call will be webcast and can be accessed at the Marvell Investor Relations website at http://investor.marvell.com/ . A replay of the call can be accessed by dialing 1-888-660-6345 or 1-646-517-4150, passcode 47973# until Tuesday, December 10, 2024 . Discussion of Non-GAAP Financial Measures Non-GAAP financial measures exclude the effect of stock-based compensation expense, amortization of acquired intangible assets, acquisition and divestiture-related costs, restructuring and other related charges (including, but not limited to, asset impairment charges, recognition of future contractual obligations, employee severance costs, and facilities related charges), resolution of legal matters, and certain expenses and benefits that are driven primarily by discrete events that management does not consider to be directly related to Marvell's core business. Although Marvell excludes the amortization of all acquired intangible assets from these non-GAAP financial measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase price accounting arising from acquisitions, and that such amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Investors should note that the use of intangible assets contributed to Marvell's revenues earned during the periods presented and are expected to contribute to Marvell's future period revenues as well. Marvell uses a non-GAAP tax rate to compute the non-GAAP tax provision. This non-GAAP tax rate is based on Marvell's estimated annual GAAP income tax forecast, adjusted to account for items excluded from Marvell's non-GAAP income, as well as the effects of significant non-recurring and period specific tax items which vary in size and frequency, and excludes tax deductions and benefits from acquired tax loss and credit carryforwards and changes in valuation allowance on acquired deferred tax assets. Marvell's non-GAAP tax rate is determined on an annual basis and may be adjusted during the year to take into account events that may materially affect the non-GAAP tax rate such as tax law changes; acquisitions; significant changes in Marvell's geographic mix of revenue and expenses; or changes to Marvell's corporate structure. For the third quarter of fiscal 2025, a non-GAAP tax rate of 7.0% has been applied to the non-GAAP financial results. Marvell believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Marvell's financial condition and results of operations. While Marvell uses non-GAAP financial measures as a tool to enhance its understanding of certain aspects of its financial performance, Marvell does not consider these measures to be a substitute for, or superior to, financial measures calculated in accordance with GAAP. Consistent with this approach, Marvell believes that disclosing non-GAAP financial measures to the readers of its financial statements provides such readers with useful supplemental data that, while not a substitute for GAAP financial measures, allows for greater transparency in the review of its financial and operational performance. Externally, management believes that investors may find Marvell's non-GAAP financial measures useful in their assessment of Marvell's operating performance and the valuation of Marvell. Internally, Marvell's non-GAAP financial measures are used in the following areas: Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of Marvell's business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of Marvell's results as reported under GAAP. The exclusion of the above items from our GAAP financial metrics does not necessarily mean that these costs are unusual or infrequent. Forward-Looking Statements under the Private Securities Litigation Reform Act of 1995 This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created by those sections. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results to differ materially from those implied by the forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "seeks," "estimates," "forecasts," "targets," "may," "can," "will," "would" and similar expressions identify such forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the statements describing our financial outlook and future period revenues. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including, but not limited to: risks related to changes in general macroeconomic conditions, or expectations of such conditions, such as high or rising interest rates, macroeconomic slowdowns, recessions, inflation, and stagflation; risks related to our ability to estimate customer demand and future sales accurately; our ability to define, design, develop and market products for the Cloud, 5G markets, and Artificial Intelligence (AI) markets; risks related to our dependence on a few customers for a significant portion of our revenue, particularly as our major customers comprise an increasing percentage of our revenue, as well as risks related to a significant portion of our sales being concentrated in the data center end market; risks related to higher inventory levels; risks related to cancellations, rescheduling or deferrals of significant customer orders or shipments, as well as the ability of our customers to manage inventory; our ability to realize the expected benefits from restructuring activities; the risk of downturns in the semiconductor industry or our customer end markets; the impact of international conflict (such as the current armed conflicts in the Ukraine and in Israel and the Gaza Strip ) and economic volatility in either domestic or foreign markets including risks related to trade conflicts or tensions, regulations, and tariffs, including but not limited to, trade restrictions imposed on our Chinese customers; our ability to retain and hire key personnel; our ability to limit costs related to defective products; risks related to our debt obligations; risks related to the rapid growth of the Company; delays or increased costs related to completing the design, development, production and introduction of our new products due to a variety of issues, including supply chain cross-dependencies, dependencies on EDA and similar tools, dependencies on the use of third-party, business partner or customer intellectual property, collaboration and synchronization requirements with business partners and customers, requirements to establish new manufacturing, testing, assembly and packing processes, and other issues; our reliance on our manufacturing partners for the manufacture, assembly, testing and packaging of our products; risks related to the ASIC business model which requires us to use third-party IP including the risk that we may lose business or experience reputational harm if third parties, including customers, lose confidence in our ability to protect their IP rights; the risks associated with manufacturing and selling products and customers' products outside of the United States ; our ability to secure design wins from our customers and prospective customers; our ability to complete and realize the anticipated benefits of any acquisitions, divestitures and investments; decreases in gross margin and results of operations in the future due to a number of factors, including high or increasing interest rates and volatility in foreign exchange rates; severe financial hardship or bankruptcy of one or more of our major customers; the effects of transitioning to smaller geometry process technologies; risks related to use of a hybrid work model; the impact of any change in the income tax laws in jurisdictions where we operate and the loss of any beneficial tax treatment that we currently enjoy; the outcome of pending or future litigation and legal and regulatory proceedings; risk related to our Sustainability program; the impact and costs associated with changes in international financial and regulatory conditions; our ability and the ability of our customers to successfully compete in the markets in which we serve; our ability and our customers' ability to develop new and enhanced products and the adoption of those products in the market; supply chain disruptions or component shortages that may impact the production of our products including our kitting process or may impact the price of components which in turn may impact our margins on any impacted products and any constrained availability from other electronic suppliers impacting our customers' ability to ship their products, which in turn may adversely impact our sales to those customers; our ability to scale our operations in response to changes in demand for existing or new products and services; risks associated with acquisition and consolidation activity in the semiconductor industry, including any consolidation of our manufacturing partners; our ability to protect our intellectual property; risks related to the impact of the COVID-19 pandemic (or future pandemics) which have impacted, and for which lingering effects may continue to impact our business, employees and operations, the transportation and manufacturing of our products, and the operations of our customers, distributors, vendors, suppliers, and partners; our maintenance of an effective system of internal controls; financial institution instability; and other risks detailed in our SEC filings from time to time. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect our business described in the "Risk Factors" section of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by us from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. About Marvell To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better. Marvell ® and the Marvell logo are registered trademarks of Marvell and/or its affiliates. Marvell Technology, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In millions, except per share amounts) Three Months Ended Nine Months Ended November 2, 2024 August 3, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net revenue $ 1,516.1 $ 1,272.9 $ 1,418.6 $ 3,949.9 $ 4,081.2 Cost of goods sold 1,166.7 685.3 867.4 2,485.1 2,451.7 Gross profit 349.4 587.6 551.2 1,464.8 1,629.5 Operating expenses: Research and development 488.6 486.7 481.1 1,451.4 1,436.6 Selling, general and administrative 205.3 197.3 213.0 602.5 622.0 Restructuring related charges 358.3 4.0 3.4 366.4 105.3 Total operating expenses 1,052.2 688.0 697.5 2,420.3 2,163.9 Operating loss (702.8) (100.4) (146.3) (955.5) (534.4) Interest expense (47.2) (48.4) (52.6) (144.4) (159.1) Interest income and other, net (0.5) 2.6 11.4 5.4 22.1 Interest and other loss, net (47.7) (45.8) (41.2) (139.0) (137.0) Loss before income taxes (750.5) (146.2) (187.5) (1,094.5) (671.4) Provision (benefit) for income taxes (74.2) 47.1 (23.2) (9.3) (130.7) Net loss $ (676.3) $ (193.3) $ (164.3) $ (1,085.2) $ (540.7) Net loss per share — basic $ (0.78) $ (0.22) $ (0.19) $ (1.25) $ (0.63) Net loss per share — diluted $ (0.78) $ (0.22) $ (0.19) $ (1.25) $ (0.63) Weighted-average shares: Basic 865.7 865.7 862.6 865.5 860.1 Diluted 865.7 865.7 862.6 865.5 860.1 Marvell Technology, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In millions) November 2, 2024 February 3, 2024 Assets Current assets: Cash and cash equivalents $ 868.1 $ 950.8 Accounts receivable, net 997.9 1,121.6 Inventories 859.4 864.4 Prepaid expenses and other current assets 91.4 125.9 Total current assets 2,816.8 3,062.7 Property and equipment, net 781.9 756.0 Goodwill 11,586.9 11,586.9 Acquired intangible assets, net 2,957.7 4,004.1 Deferred tax assets 406.5 311.9 Other non-current assets 1,165.8 1,506.9 Total assets $ 19,715.6 $ 21,228.5 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 538.1 $ 411.3 Accrued liabilities 825.2 1,032.9 Accrued employee compensation 270.9 262.7 Short-term debt 129.4 107.3 Total current liabilities 1,763.6 1,814.2 Long-term debt 3,965.5 4,058.6 Other non-current liabilities 613.6 524.3 Total liabilities 6,342.7 6,397.1 Stockholders' equity: Common stock 1.7 1.7 Additional paid-in capital 14,629.0 14,845.3 Accumulated other comprehensive income (loss) (0.3) 1.1 Accumulated deficit (1,257.5) (16.7) Total stockholders' equity 13,372.9 14,831.4 Total liabilities and stockholders' equity $ 19,715.6 $ 21,228.5 Marvell Technology, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Three Months Ended Nine Months Ended November 2, 2024
