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Release – Kratos Reports Second Quarter 2025 Financial Results

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Research News and Market Data on KTOS

August 7, 2025 at 4:00 PM EDT

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Second Quarter 2025 Revenues of $351.5 Million Reflect 17.1 Percent Growth and 15.2 Percent Organic Growth Over Second Quarter 2024 Revenues of $300.1 Million

Second Quarter 2025 Consolidated Book to Bill Ratio of 0.7 to 1 and Bookings of $257.0 Million

Last Twelve Months Ended June 29, 2025 Consolidated Book to Bill Ratio of 1.2 to 1 and Bookings of $1.401 Billion

Increases 2025 Full Year Revenue and Adjusted EBITDA Guidance

SAN DIEGO, Aug. 07, 2025 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a Technology Company in the Defense, National Security and Commercial Markets, today reported its second quarter 2025 financial results, including Revenues of $351.5 million, Operating Income of $3.7 million, Net Income of $2.9 million, Adjusted EBITDA of $28.3 million and a consolidated book to bill ratio of 0.7 to 1.0.

Second quarter 2025 Net Income and Operating Income includes non-cash stock compensation expense of $8.6 million, and Company-funded Research and Development (R&D) expense of $10.2 million, including efforts in our Space, Satellite, Unmanned Systems and Microwave Electronic businesses, and expense to accrue $2.0 million related to settlement of a legal matter, offset partially by non-recurring credits of $1.1 million related to the resolution of a previously recorded contingent liability.

Kratos reported second quarter 2025 GAAP Net Income of $2.9 million and GAAP Net Income per share of $0.02, compared to GAAP Net Income of $7.9 million and GAAP Net Income per share of $0.05, for the second quarter of 2024. Adjusted earnings per share (EPS) was $0.11 for the second quarter of 2025, compared to $0.14 for the second quarter of 2024.

Second quarter 2025 Revenues of $351.5 million increased $51.4 million, reflecting 15.2 percent organic growth from second quarter 2024 Revenues of $300.1 million. Organic revenue growth was reported in our KGS segment of 27.1 percent, with the most notable growth in our Defense Rocket Systems and C5ISR businesses, with organic revenue growth rates of 116.6 percent and 25.4 percent, respectively, compared to the second quarter of 2024.

Second quarter 2025 Cash Flow Used in Operations was $10.6 million, primarily reflecting the working capital requirements related to the revenue growth impacting our receivables, increases in inventories for anticipated future deliveries and ramps in production and investments we are making related to certain development initiatives in our Unmanned Systems (KUS) segment. Free Cash Flow Used in Operations for the second quarter of 2025 was $31.1 million after funding of $20.5 million of capital expenditures.

For the second quarter of 2025, KUS generated Revenues of $73.2 million, compared to $85.8 million in the second quarter of 2024, which included revenues of $17.4 million related to an international target drone shipment made during the second quarter of 2024. KUS’s Operating Loss was $0.3 million in the second quarter of 2025, compared to Operating Income of $3.6 million in the second quarter of 2024. KUS’s Adjusted EBITDA for the second quarter of 2025 was $3.6 million, compared to $7.2 million for the second quarter of 2024, reflecting the impact of the revenue volume and continued impact of increased material and subcontractor and labor costs on multi-year fixed price production contracts under terms which were negotiated in 2020 and 2021 that we are unable to seek recovery and which we are unable to renegotiate until the next multi-year production lot.
        
KUS’s book-to-bill ratio for the second quarter of 2025 was 0.9 to 1.0 and 1.3 to 1.0 for the twelve months ended June 29, 2025, with bookings of $63.7 million for the three months ended June 29, 2025, and bookings of $359.5 million for the twelve months ended June 29, 2025. Total backlog for KUS at the end of the second quarter of 2025 was $337.6 million, compared to $347.1 million at the end of the first quarter of 2025.

For the second quarter of 2025, Kratos’ Government Solutions (KGS) segment Revenues of $278.3 million increased from Revenues of $214.3 million in the second quarter of 2024, reflecting a 27.1 percent organic growth rate, excluding the impact of the recent acquisition of certain assets of Norden Millimeter, Inc. The increased Revenues includes organic revenue growth across all KGS businesses, with the most notable growth in our Defense Rocket Support business which includes the timing of certain hypersonic missions, and in our C5ISR businesses with organic revenue growth rates of 116.6 percent and 25.4 percent, respectively, over the second quarter of 2024.

KGS reported Operating Income of $12.6 million in the second quarter of 2025 compared to $15.5 million in the second quarter of 2024, primarily reflecting the mix in revenues, particularly impacted by a less favorable mix in our Space, Training and Cyber business. Second quarter 2025 KGS Adjusted EBITDA was $24.7 million, compared to second quarter 2024 KGS Adjusted EBITDA of $22.7 million, primarily reflecting the mix in revenues and resources.

KGS reported a book-to-bill ratio of 0.7 to 1.0 for the second quarter of 2025, a book to bill ratio of 1.2 to 1.0 for the last twelve months ended June 29, 2025 and bookings of $193.3 million and $1.041 billion for the three and last twelve months ended June 29, 2025, respectively. KGS’s total backlog was $1.076 billion at the end of the second quarter of 2025, compared to $1.161 billion at the end of the first quarter of 2025.

Kratos reported consolidated bookings of $257.0 million and a book-to-bill ratio of 0.7 to 1.0 for the second quarter of 2025, and consolidated bookings of $1.401 billion and a book-to-bill ratio of 1.2 to 1.0 for the last twelve months ended June 29, 2025. Consolidated backlog was $1.414 billion on June 29, 2025, as compared to $1.508 billion on March 30, 2025. Kratos’ bid and proposal pipeline was $13.0 billion at June 29, 2025, as compared to $12.6 billion at March 30, 2025. Backlog at June 29, 2025, included funded backlog of $1.125 billion and unfunded backlog of $288.6 million.

Eric DeMarco, Kratos’ President and CEO, said, “A generational recapitalization of strategic weapon systems is underway, with significant global funding being committed by the U.S. and its allies, including as represented by a planned U.S. 2026 National Security spend exceeding $1 trillion, NATO committing 5% of member GDP to defense, and Asian allies looking to do the same. The Global Defense and National Security Market is currently approximately $2.5 trillion, led by the United States “peace through strength” posture and is expected to grow for the foreseeable future. Since our last report to you, President Trump signed the Reconciliation Bill into law, supplementing defense spending by an additional $150 billion, including increased funding for drones, air defense systems, missiles, radars, space and satellites and the Golden Dome initiative, each related to primary Kratos capability areas.”

Mr. DeMarco continued, “In addition to significant increased funding expected for our industry, Secretary of Defense Pete Hegseth recently announced sweeping changes to the way the Pentagon will buy and field unmanned aerial systems, which is related to a June 6, 2025 Presidential Executive order on “Unleashing American Drone Dominance”, both expected to accelerate the acquisition and fielding of drones. Also, further emphasizing the new focus on streamlining defense acquisition, promoting innovation and commercial “ready to go” solutions to deliver capabilities to the warfighter faster and more efficiently, Senator Roger Wicker recently introduced the FORGED Act and House Armed Services Committee Chair Mike Rogers and Ranking Member Adam Smith introduced the related SPEED Act, all of which, if enacted, we expect to benefit Kratos and our “First to Market” strategy.”

Mr. DeMarco added, “We believe that we are seeing direct positive impact from these actions, including Kratos’ Q225 17 percent revenue growth rate, our near record backlog, our record $13 billion opportunity pipeline and LTM book–to–bill ratio of 1.2 to 1.0. Additionally, since the end of the second quarter, we have been informed that we have been successful as prime, on a new, single award, potential total value up to $750 million program, internal code name Poseidon, which we expect to receive a formal contract by the end of this year. Additionally, we were also recently informed that Kratos, with our strategic partner, were down selected on another large, new program of record opportunity we call Deimos”.

Mr. DeMarco went on, “Virtually every Kratos business unit is forecasting significant future organic growth, including our hypersonic system franchise, small jet engines for drones, missiles and loitering munitions, our Israeli based microwave electronics business, and our military grade hardware business supporting missile, radar, hypersonic, counter UAS and strategic weapon systems. We are also expecting increased EBITDA margins beginning in 2026 and continuing thereafter, as new higher margin programs begin, certain lower margin contracts are renegotiated at renewal, and as we reduce costs in certain areas. We expect to continue to make important investments in property, plant, facilities, equipment etc., over the next two years, in conjunction with our funded customers, partners, initiatives and programs, to capture new opportunities, rebuild the industrial base, further grow our business and generate additional value for all Kratos stakeholders.”

Mr. DeMarco concluded, “In 2015, Kratos Mako tactical jet drones flew manned-unmanned teaming with Marine Corps Harrier jet aircraft, establishing Kratos as a first-to-market innovation leader, delivering actual relevant products, not PowerPoints, to the customer. As Kratos invests its own money in research and product development, we are incentivized to move fast, do it right, at a low cost, and always with an eye on being able to produce our military grade products, hardware and software affordably, at scale, and generate an adequate return for our shareholders. We believe that Kratos is in the right places, at the right time, with the right products, and importantly at the right affordable price points, to address our customer and partners requirements, to deliver significant value to Kratos stakeholders today.”

Financial Guidance

We are providing our initial 2025 third quarter guidance and increasing our full year 2025 Revenue and Adjusted EBITDA guidance range, which includes our assumptions, including as related to: current forecasted business mix, employee sourcing, hiring and retention; manufacturing, production and supply chain disruptions; parts shortages and related continued significant cost and price increases in each of these areas, that are impacting the industry and Kratos.
  
Kratos’ 2025 financial forecast and guidance includes elevated investments for capital expenditures for property, plant and equipment, including the expansion of our manufacturing and production facilities and related inventory builds in our Rocket Systems and Hypersonic businesses, primarily related to the recent MACH-TB 2.0 contract award, the continued manufacture of two production lots of Valkyries prior to contract award, to meet anticipated customer orders and requirements, the expansion and build-out of the Company’s Microwave Products production facilities, the expansion and build-out of our small jet engine production and test cell facilities, and the build-out of additional secure facilities for our federal secured space communications business, in accordance with contract and customer requirements. Kratos’ operating cash flow guidance also assumes consummation of certain investments in our rocket systems and unmanned systems businesses.

Our third quarter and full year 2025 guidance ranges are as follows:

Current Guidance Range
$MQ325FY25
   
Revenues$315 – $325$1,290 – $1,310
R&D$10 – $11$40 – $42
Operating Income$3 – $7$29 – $34
Depreciation$9 – $10$35 – $38
Amortization$3 – $4$12 – $14
Stock Based Compensation$8 – $9$34 – $36
Adjusted EBITDA$25 – $30$114 – $120
Operating Cash Flow $50 – $60
Capital Expenditures $125 – $135
Free Cash Flow Use ($75 – $85)
   

Management will discuss the Company’s financial results on a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern) today. The call will be available at www.kratosdefense.com. Participants may register for the call using this Online Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

Notice Regarding Forward–Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties, including, without limitation, express or implied statements concerning the Company’s expectations regarding its future financial performance, including the Company’s expectations for its third quarter and full year 2025 revenues, R&D, operating income, depreciation, amortization, stock based compensation expense, and Adjusted EBITDA, and full year 2025 operating cash flow, capital expenditures, and free cash flow, forecasted business unit organic revenue growth, EBITDA margins in 2026 and thereafter, future initiation of higher margin programs and negotiation of lower margin contracts which are expected to be renewed in the future, expected future investments in property, plant, facilities, and equipment, the Company’s bid and proposal pipeline and backlog, including the Company’s ability to timely execute on its backlog, demand for its products and services, including the Company’s alignment with today’s National Security requirements and the positioning of its C5ISR and other businesses, ability to successfully compete and expected new customer awards, the impact of the Company’s restructuring efforts and cost reduction measures, the availability and timing of government funding for the Company’s offerings, availability of an experienced skilled workforce, inflation and increased costs, risks related to potential cybersecurity events or disruptions of our information technology systems, and delays in our financial projections, industry, business and operations, including projected growth. Such statements are only predictions, and the Company’s actual results may differ materially from the results expressed or implied by these statements. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Factors that may cause the Company’s results to differ include, but are not limited to: risks to our business and financial results related to the reductions and other spending constraints imposed on the U.S. Government and our other customers, including as a result of sequestration and extended continuing resolutions, the Federal budget deficit and Federal government shut-downs; risks of adverse regulatory action or litigation; risks associated with debt leverage; risks that our cost-cutting initiatives will not provide the anticipated benefits; risks that changes, cutbacks or delays in spending by the DoD may occur, which could cause delays or cancellations of key government contracts; risks of delays to or the cancellation of our projects as a result of protest actions submitted by our competitors; risks that changes may occur in Federal government (or other applicable) procurement laws, regulations, policies and budgets; risks of the availability of government funding for the Company’s products and services due to performance, cost growth, or other factors, changes in government and customer priorities and requirements (including cost-cutting initiatives, the potential deferral of awards, terminations or reduction of expenditures to respond to the priorities of Congress and the Administration, or budgetary cuts resulting from Congressional committee recommendations or automatic sequestration under the Budget Control Act of 2011, as amended); risks that the unmanned aerial systems and unmanned ground sensor markets do not experience significant growth; risks that products we have developed or will develop will not become programs of record; risks that we cannot expand our customer base or that our products do not achieve broad acceptance which could impact our ability to achieve our anticipated level of growth; risks of increases in the Federal government initiatives related to in-sourcing; risks related to security breaches, including cyber security attacks and threats or other significant disruptions of our information systems, facilities and infrastructures; risks related to our compliance with applicable contracting and procurement laws, regulations and standards; risks related to the new DoD Cybersecurity Maturity Model Certification; risks relating to the ongoing conflict in Ukraine and the Israeli-Palestinian military conflict; risks to our business in Israel; risks related to contract performance; risks related to failure of our products or services; risks associated with our subcontractors’ or suppliers’ failure to perform their contractual obligations, including the appearance of counterfeit or corrupt parts in our products; changes in the competitive environment (including as a result of bid protests); failure to successfully integrate acquired operations and compete in the marketplace, which could reduce revenues and profit margins; risks that potential future goodwill impairments will adversely affect our operating results; risks that anticipated tax benefits will not be realized in accordance with our expectations; risks that a change in ownership of our stock could cause further limitation to the future utilization of our net operating losses; risks that we may be required to record valuation allowances on our net operating losses which could adversely impact our profitability and financial condition; risks that the current economic environment will adversely impact our business, including with respect to our ability to recruit and retain sufficient numbers of qualified personnel to execute on our programs and contracts, as well as expected contract awards and risks related to increasing interest rates and risks related to the interest rate swap contract to hedge Term SOFR associated with the Company’s Term Loan A; currently unforeseen risks associated with any public health crisis, and risks related to natural disasters or severe weather. These and other risk factors are more fully discussed in the Company’s Annual Report on Form 10-K for the period ended December 29, 2024, and in our other filings made with the Securities and Exchange Commission.

Note Regarding Use of Non-GAAP Financial Measures and Other Performance Metrics
This news release contains non-GAAP financial measures, including organic revenue growth rates, Adjusted EPS (computed using income before income taxes, excluding depreciation, amortization of intangible assets, amortization of capitalized contract and development costs, stock-based compensation expense, acquisition and restructuring related items and other, which includes, but is not limited to, legal related items, non-recoverable rates and costs, and foreign transaction gains and losses, less the estimated impact to income taxes) and Adjusted EBITDA (which excludes, among other things, acquisition and restructuring related items, stock compensation expense, foreign transaction gains and losses, and the associated margin rates). Additional non-GAAP financial measures include Free Cash Flow from Operations computed as Cash Flow from Operations less Capital Expenditures plus proceeds from sale of assets and Adjusted EBITDA related to our KUS and KGS businesses. Kratos believes this information is useful to investors because it provides a basis for measuring the Company’s available capital resources, the actual and forecasted operating performance of the Company’s business and the Company’s cash flow, excluding non-recurring items and non-cash items that would normally be included in the most directly comparable measures calculated and presented in accordance with GAAP. The Company’s management uses these non-GAAP financial measures, along with the most directly comparable GAAP financial measures, in evaluating the Company’s actual and forecasted operating performance, capital resources and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and investors should carefully evaluate the Company’s financial results calculated in accordance with GAAP and reconciliations to those financial results. In addition, non-GAAP financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies. As appropriate, the most directly comparable GAAP financial measures and information reconciling these non-GAAP financial measures to the Company’s financial results prepared in accordance with GAAP are included in this news release.

Another Performance Metric the Company believes is a key performance indicator in our industry is our Book to Bill Ratio as it provides investors with a measure of the amount of bookings or contract awards as compared to the amount of revenues that have been recorded during the period and provides an indicator of how much of the Company’s backlog is being burned or utilized in a certain period. The Book to Bill Ratio is computed as the number of bookings or contract awards in the period divided by the revenues recorded for the same period. The Company believes that the rolling or last twelve months’ Book to Bill Ratio is meaningful since the timing of quarter-to-quarter bookings can vary.

Press Contact:
Claire Burghoff
claire.burghoff@kratosdefense.com 

Investor Information:
877-934-4687
investor@kratosdefense.com 

View full release here.

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Source: Kratos Defense & Security Solutions, Inc.

Release – SelectQuote to Release Fiscal Fourth Quarter and Full Year 2025 Earnings on August 21

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SLQT

08/07/202

OVERLAND PARK, Kan.–(BUSINESS WIRE)– SelectQuote, Inc. (NYSE: SLQT), a leading distributor of Medicare insurance policies and owner of a rapidly growing Healthcare Services platform, today announced it will release its fourth quarter and full year 2025 financial results before market open on Thursday, August 21, 2025. Chief Executive Officer, Tim Danker, and Chief Financial Officer, Ryan Clement, will host a conference call on the day of the release (August 21, 2025) at 8:30 am ET to discuss the results.

To register for this conference call, please use this link: https://registrations.events/direct/Q4I547808.

After registering, a confirmation will be sent via email, including dial in details and unique conference call codes for entry. Registration is open through the live call, but to ensure you are connected for the full call, we suggest registering a day in advance or at minimum 10 minutes before the start of the call. The event will also be webcasted live via our investor relations website https://ir.selectquote.com/investor-home/default.aspx or via this link.

About SelectQuote:

Founded in 1985, SelectQuote (NYSE: SLQT) pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies, allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote’s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. Today, the Company operates an ecosystem offering high touchpoints for consumers across insurance, pharmacy, and virtual care.

With an ecosystem offering engagement points for consumers across insurance, Medicare, pharmacy, and value-based care, the company now has three core business lines: SelectQuote Senior, SelectQuote Healthcare Services, and SelectQuote Life. SelectQuote Senior serves the needs of a demographic that sees around 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. SelectQuote Healthcare Services is comprised of the SelectRx Pharmacy, a Patient-Centered Pharmacy Home™ (PCPH) accredited pharmacy, SelectPatient Management, a provider of chronic care management services, and Healthcare Select, which proactively connects consumers with a wide breadth of healthcare services supporting their needs.

Investor Relations:
Sloan Bohlen
877-678-4083
investorrelations@selectquote.com

Media:
Matt Gunter
913-286-4931
matt.gunter@selectquote.com

Source: SelectQuote, Inc.

Release – Kelly Announces Selection of Chris Layden as President and Chief Executive Officer

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Research News and Market Data on KELYA

August 7, 2025

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TROY, Mich., Aug. 07, 2025 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA, KELYB), a leading global specialty talent solutions provider, today announced that Chris Layden has been selected to serve as president and chief executive officer, effective September 2, 2025. Layden will succeed Peter Quigley, who previously announced his intent to retire as president and chief executive officer. Quigley will remain as a strategic advisor to Kelly to ensure a smooth transition and will continue to serve as a member of the board of directors until the Company’s next Annual Shareholders Meeting in May 2026.

Layden is a dynamic industry leader with extensive experience leading organizations through transformations to advance go-to-market initiatives and accelerate profitable growth. Most recently, he served as chief operating officer of Prolink, a workforce solutions provider offering staffing, technology, culture, data, and talent experience solutions throughout the United States. Under Layden’s leadership, Prolink achieved rapid organic growth and significantly strengthened its competitive positioning through enhancements to its operational capabilities and service delivery, while also transforming its technology processes and platforms. Prior to joining Prolink, Layden spent nearly two decades at ManpowerGroup, a global workforce solutions company, serving in a range of senior roles spanning general management, regional leadership, corporate strategy, and sales. During his tenure at ManpowerGroup, he successfully led enterprise-wide initiatives, executed multiple business transformations, and was a significant contributor to the company’s growth in the life sciences, engineering, and technology verticals.

“We are confident Chris’s skills and experience make him uniquely well-qualified to serve as president and chief executive officer as we enter the next phase of Kelly’s strategic evolution and build on the tremendous progress the Company has made during Peter’s tenure. Chris’s selection follows a rigorous search process with the full board’s engagement. He brings a track record of executing enterprise-scale transformations and driving commercial excellence, as well as visionary leadership that aligns well with our commitment to accelerate profitable growth and value creation,” said Terrence Larkin, chairman of Kelly’s board of directors.

Layden said, “I have been impressed by Kelly’s evolution and momentum, and am excited by the opportunity to serve as president and chief executive officer of this iconic company and build on a strong foundation to drive profitable growth and value for customers, talent, employees, and shareholders. I look forward to working with Peter as I transition into the Company and partnering with the talented Kelly team to seize on the tremendous opportunities ahead.”

Larkin continued, “The board and I extend our appreciation to Peter for his significant contributions to Kelly over his distinguished 22-year career with the Company. His leadership and passion for serving customers and cultivating top talent have been instrumental to Kelly’s transformation into a leading global specialty talent solutions provider.”

Quigley said, “Over the last five years, we have made great strides on Kelly’s specialty journey, significantly increasing the Company’s profitability by shifting toward higher margin, higher growth business and enhancing our organizational efficiency and effectiveness. Together, these actions have improved Kelly’s financial profile to the best place it has been in 25 years. Under Chris’s leadership, I’m confident Kelly will reach new heights, and I look forward to working with him and the board to ensure a smooth transition.”

Kelly will provide additional details about the president and chief executive officer transition during its upcoming second-quarter earnings conference call on August 7, 2025, at 9 a.m. ET.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 400,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2024 was $4.3 billion. Learn more at kellyservices.com.

Forward-Looking Statements

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vii) our future business development, results of operations and financial condition, (viii) damage to our brands, (ix) dependency on third parties for the execution of critical functions, (x) conducting business in foreign countries, including foreign currency fluctuations, (xi) availability of temporary workers with appropriate skills required by customers, (xii) cyberattacks or other breaches of network or information technology security, and (xiii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no duty to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

KLYA-FIN

ANALYST CONTACT:  MEDIA CONTACT:
Scott Thomas  Jerry Grider
(248) 251-7264  (260) 444-9654
scott.thomas@kellyservices.com  jerry.grider@kellyservices.com

Release – Kelly Reports Second-Quarter 2025 Earnings

Posted on by aweinsoff@channelchek.com

Research News and Market Data on KELYA

August 7, 2025

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TROY, Mich., Aug. 07, 2025 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced results for the second quarter of 2025.

  • Q2 revenue of $1.1 billion, up 4.2% year-over-year reflecting previously disclosed acquisitions, and down 3.3% on an organic basis
  • Q2 operating earnings of $22.2 million; $24.6 million on an adjusted basis, down 12.1% versus the prior year period
  • Q2 adjusted EBITDA of $37.0 million, down 8.7% versus the prior year; adjusted EBITDA margin decreased 40 basis points (“bps”) to 3.4%
  • Company expects year-over-year revenue decline of 5% to 7% in Q3 driven by reduced demand for U.S. federal contractors and from certain large customers. Adjusted EBITDA margin expansion of 80 to 90 bps is expected in Q3 and modest year-over-year margin improvement for the full year.

“In the second quarter, Kelly continued to drive growth in more resilient markets, including K-12 staffing in our Education business, telecom and engineering solutions in SET, and payroll process outsourcing in ETM. Across the business, particularly in areas where customers are taking a more measured approach to hiring, we maintained our focus on aligning resource levels with demand,” said Peter Quigley, president and chief executive officer. “Our results reflect our commitment to staying close to our customers and creating opportunities in the current operating environment. By meeting employers’ evolving needs and executing on our efficiency and growth initiatives, we’ll continue to deliver near-term results while positioning Kelly for the future.”

Financial Results for the thirteen-week period ended June 29, 2025:

Revenue of $1.1 billion, a 4.2% increase compared to the corresponding quarter of 2024 resulting primarily from the May 2024 acquisition of Motion Recruitment Partners, LLC (“MRP”). Excluding the impact of the MRP acquisition, revenue was down 3.3% on an organic basis, including approximately 1.4% of revenue decline due to reduced demand for U.S. federal government contractors and growth of 5.6% in the Education segment.

Operating earnings of $22.2 million, compared to earnings of $12.2 million reported in the second quarter of 2024. Adjusted earnings1 were $24.6 million in the second quarter of 2025 and $28.1 million in the second quarter of 2024. Adjusted EBITDA1 of $37.0 million, a decrease of 8.7% versus the prior year period. Adjusted EBITDA margin of 3.4%, a decrease of 40 basis points driven primarily by near-term margin pressure in SET and ETM reflecting timing of revenue trends and related expense management actions.

Earnings per share were $0.52 compared to earnings per share of $0.12 in the second quarter of 2024. On an adjusted basis1, earnings per share were $0.54 in the second quarter of 2025 compared to $0.71 per share in the corresponding quarter of 2024. The year-over-year decline includes $0.08 of increased net interest expense due to an elevated average cash balance in the prior year quarter and debt incurred in conjunction with the MRP acquisition as well as lower operating earnings.

Financial Results for the 26-week period ended June 29, 2025:

Revenue of $2.3 billion, a 7.8% increase compared to the corresponding period in 2024 resulting primarily from the May 2024 acquisition of MRP. Excluding the impact of the MRP acquisition, revenue was down 1.6% on an organic basis and includes approximately 1.1% revenue decline due to reduced demand for U.S. federal government contractors and growth of 6.1% in the Education segment.

Operating earnings of $33.0 million, compared to earnings of $39.0 million reported over the same period in 2024. Adjusted earnings1 were $46.7 million in the first half of 2025 and $51.2 million in the corresponding period of 2024. Adjusted EBITDA1 of $71.9 million, a decrease of 2.6% versus the prior year period. Adjusted EBITDA margin of 3.2%, a decrease of 30 basis points driven primarily by near-term margin pressure in SET and ETM reflecting timing of revenue trends and related expense management actions.

Earnings per share were $0.67 compared to earnings per share of $0.83 in the same period of 2024. On an adjusted basis1, earnings per share were $0.93 for the first half of 2025 compared to $1.26 per share in the corresponding period of 2024 reflecting higher interest expense following the MRP acquisition and lower operating earnings.

_________________________________________
1 Adjusted measures represent non-GAAP financial measures. Refer to our reconciliation of non-GAAP financial measures to the most closely related GAAP measure included in this document.

Quarterly Cash Dividend:

Kelly also reported that on August 6, its board of directors declared a dividend of $0.075 per share. The dividend is payable on September 3, 2025 to stockholders of record as of the close of business on August 20, 2025.

In conjunction with its earnings release, Kelly has published a financial presentation and will host a live webcast of a conference call at 9 a.m. ET on August 7 to review the financial and operation results from the quarter. The presentation and a link to the live webcast will be accessible through the Company’s public website on the Investor Relations page under Events & Presentations. The webcast will be recorded, and a replay will be available within one hour of completion of the event through the same link as the live webcast.

Chief Accounting Officer Transition:

Kelly also announced that it has appointed Nick Zuhlke as vice president, controller and chief accounting officer, effective August 11, 2025. He succeeds Laura Lockhart, whose planned retirement was previously announced by the Company. Zuhlke brings to Kelly decades of global finance leadership experience with DexKo Global, Plastipak Holdings, and KPMG.

Forward-Looking Statements:

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vii) our future business development, results of operations and financial condition, (viii) damage to our brands, (ix) dependency on second parties for the execution of critical functions, (x) conducting business in foreign countries, including foreign currency fluctuations, (xi) availability of temporary workers with appropriate skills required by customers, (xii) cyberattacks or other breaches of network or information technology security, and (xiii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no duty to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 400,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2024 was $4.3 billion. Learn more at kellyservices.com.

KLYA-FIN

ANALYST & MEDIA CONTACT:
Scott Thomas
(248) 251-7264
scott.thomas@kellyservices.com

View full release here.

Release – GeoVax Comments on HHS mRNA Vaccine Rollback: Urges Full Embrace of MVA-Based Multi-Antigen Vaccine

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GOVX

GEO-CM04S1 Offers Solution to Overcome HHS-Cited mRNA Deficiencies – Potentially Offering Broader, More Durable Protection

ATLANTA, GA – August 7, 2025 – GeoVax Labs, Inc. (Nasdaq: GOVX), a clinical-stage biotechnology company developing multi-antigen, MVA-based vaccines and solid tumor immunotherapies, today issued a statement in response to the U.S. Department of Health and Human Services’ (HHS) decision to terminate nearly $500 million in BARDA-funded mRNA vaccine development contracts.

This action reflects a policy shift, underscored by HHS Secretary Kennedy addressing fundamental concerns around mRNA vaccines. In a post on X, Secretary Kennedy stated: “mRNA vaccines don’t perform well against viruses that infect the upper respiratory tract”. The Secretary added that this is due to a concept known as “antigenic shift, meaning that the vaccine paradoxically encourages new mutations and can actually prolong pandemics as the virus constantly mutates”. GeoVax’s vaccine candidates, including GEO-CM04S1 for COVID-19, are designed to induce immunity using multiple antigens. GEO-CM04S1 expresses both the Spike (S) and Nucleocapsid (N) proteins of SARS-CoV-2, enabling broader and more durable protection – even as the virus mutates. Data from clinical studies have demonstrated that GEO-CM04S1 induces immune responses across variants, from the original Wuhan strain through Omicron, even in immunocompromised patients.

“Secretary Kennedy’s remarks spotlight the exact issue our platform was designed to overcome,” said David Dodd, Chairman and CEO of GeoVax. “The mRNA approach, with its single-target design, appears limited relative to durability and antigenic shift. GEO-CM04S1’s multi-antigen construct represents a promising solution – with clinical data demonstrating broader immunity and addressing the mRNA shortcomings Kennedy described, including among the most vulnerable immunocompromised patients.”

Why GeoVax’s MVA-Based Vaccines Align with U.S. Priorities

  • Multi‑antigen breadth and durability – GeoVax’s COVID-19 vaccine candidate, GEO‑CM04S1, expresses both SARS‑CoV‑2 Spike and Nucleocapsid proteins – inducing robust and durable antibody and T‑cell immunity in Phase 2 trials. Notably, in a trial among Chronic Lymphocytic Leukemia (CLL) patients, the mRNA comparator arm was halted for failing to meet immune‑response benchmarks, while GEO‑CM04S1 exceeded interim endpoints, with the remainder of the ongoing study only including the GEO-CM04S1 arm. 
  • Safety for vulnerable populations – MVA does not replicate in human cells and has been FDA‑approved for use in immunocompromised individuals, pregnant women, and children. This makes it a validated vaccine platform with broad safety.
  • Manufacturing innovation and U.S. resilience – GeoVax is advancing AGE.1 manufacturing processes for MVA-based vaccines such as GEO-CM04S1 which is expected to support scalable, decentralized U.S. vaccine manufacturing, providing faster production, higher yield at a reduced cost – a strategic advantage for public health resilience.
  • Broad infectious-disease pipeline – Beyond COVID‑19, GeoVax is pursuing MVA‑based vaccines targeting hemorrhagic fever viruses (Ebola Zaire, Ebola Sudan, Marburg), Zika, and Mpox/Smallpox. This diversified pipeline aligns with HHS, NIH, FDA, and WHO priorities for pandemic preparedness and biodefense.

GeoVax: Delivering on the “Safer, Broader” Vision

GeoVax applauds the call to shift toward multi-antigen vaccine designs with validated safety profiles and resilience to viral mutation. The MVA‑based platform delivers on these goals:

  • Evidence‑backed safety for immunocompromised, pediatric, and pregnant populations.
  • Broader immune responses with Spike plus Nucleocapsid antigens.
  • Strategic manufacturing design for domestic scale and surge capacity.
  • Multi‑disease readiness across COVID‑19, hemorrhagic fevers, Zika, and Mpox/Smallpox.

Next Steps: Turning Rhetoric into Resilience

GeoVax urges HHS to proactively support robust, evidence-backed alternatives – including multi-antigen platforms like MVA as part of a diversified, resilient biomedical countermeasure arsenal.

GeoVax invites HHS and other federal partners to collaborate under the FDA’s Commissioner’s National Priority Voucher (CNPV) program and other mechanisms to accelerate regulatory and funding support for GEO-CM04S1 and GEO-MVA, both of which are uniquely positioned to protect high-risk populations and enhance U.S. biomanufacturing self-sufficiency.

Dodd added: “We must now invest in platforms that reflect what we’ve learned. GeoVax stands ready to lead this transition. Our MVA platform already has a safety track record and is delivering early efficacy where mRNA appears to have fallen short. We stand ready and prepared to assist in supporting HHS’s bold reset into a long-term strategy for national immunization security.”

About GeoVax

GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel vaccines against infectious diseases and therapies for solid tumor cancers. The Company’s lead clinical program is GEO-CM04S1, a next-generation COVID-19 vaccine currently in three Phase 2 clinical trials, being evaluated as (1) a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, (2) a booster vaccine in patients with chronic lymphocytic leukemia (CLL) and (3) a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. In oncology the lead clinical program is evaluating a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, having recently completed a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax is also developing a vaccine targeting Mpox and smallpox and, based on recent EMA regulatory guidance, anticipates progressing directly to a Phase 3 clinical evaluation, omitting Phase 1 and Phase 2 trials. GeoVax has a strong IP portfolio in support of its technologies and product candidates, holding worldwide rights for its technologies and products. For more information about the current status of our clinical trials and other updates, visit our website: www.geovax.com.

Forward-Looking Statements

This release contains forward-looking statements regarding GeoVax’s business plans. The words “believe,” “look forward to,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax’s immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax’s viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax’s immuno-oncology products and preventative vaccines will be safe for human use, GeoVax’s vaccines will effectively prevent targeted infections in humans, GeoVax’s immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.

Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:

info@geovax.com

678-384-7220

Media Contact:

Jessica Starman

media@geovax.com 

Release – SKYX Announces Corporate Update Call Including New Developments

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SKYX

Company to Provide Corporate Updates Including New Developments, Second Quarter 2025 Overview and Financial Results; Conference Call to be Held Tuesday, August 12, 2025, at 10:00 A.M. Eastern Time

August 07, 2025 10:26 ET | Source: SKYX Platforms Corp.

MIAMI, Aug. 07, 2025 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a “SKYX Technologies”), a highly disruptive advanced and smart home platform technology company for homes and buildings, with more than 100 issued and pending patents globally and a portfolio of over 60 lighting and home décor websites, announces today that it will host a Corporate Update call and present its second quarter 2025 overview and financial results. The conference call will be held on Tuesday, August 12, 2025, at 10:00 a.m. Eastern Time.

SKYX Participating Members will Include:

  • Rani Kohen, Founder and Executive Chairman
  • Steve Schmidt, SKYX President, (former CEO of Nielsen Data Corporation and former President of Office Depot International)
  • Lenny Sokolow, Co-CEO

SKYX Platforms – Q2 2025
Date: Tuesday, August 12, 2025
Time: 10:00 a.m. Eastern Time
U.S./Canada
Dial-in: 1-412-317-5180
International Dial-in: 1-844-825-9789
Call me™ link for instant telephone access to the event: https://callme.viavid.com/?$Y2FsbG1lPXRydWUmcGFzc2NvZGU9JmluZm89Y29tcGFueSZyPXRydWUmYj0xNg==

Passcode: 1488921

Please dial in at least 10 minutes before the start of the call to ensure timely participation.

Webcast link: https://viavid.webcasts.com/starthere.jsp?ei=1730462&tp_key=0375a68f25

A playback of the call will be available until September 12, 2025.

Replay Dial-In: 1-844-512-2921 or 1-412-317-6671
Replay pin number 10202040

About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.

Forward-Looking Statements
Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

Release – GoHealth Announces Strategic Capital and Governance Actions to Support Long-Term Value Creation and Reports Second Quarter 2025 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on GOCO

Aug 07, 2025 at 7:01 AM EDT

CHICAGO, Aug. 07, 2025 (GLOBE NEWSWIRE) — GoHealth, Inc. (NASDAQ: GOCO) (“GoHealth” or the “Company”), a leading health insurance marketplace and Medicare-focused digital health company, today announced the execution of strategic capital and governance actions that are expected to significantly enhance its financial flexibility and long-term positioning along with its financial results for the three and six months ended June 30, 2025.

Strategic Capital and Governance Actions

  • Secured new senior secured superpriority term loan facility, including $80.0 million in new-money term loans and $35.0 million in roll-up loans, to support working capital and strategic flexibility heading into the Medicare annual enrollment period.
  • Expect additional liquidity in the term loan to allow us to maintain compliance with our debt covenants and fund our operations for the next 12 months and beyond.
  • Amended existing credit agreement to waive near-term principal payments through 2026 and reset financial covenants.
  • Created debt basket capacity of up to $250.0 million under the new superpriority term loan facility and amended credit agreement, to pursue potential transformative transactions.
  • Issued an aggregate of 4,766,219 shares of Class A common stock to lenders, reinforcing alignment with long-term stockholder value creation.
  • Appointed three new directors to the Company’s board of directors and accepted resignations from three existing directors to align governance with GoHealth’s forward-looking strategic direction.

“Our strategic capital and governance actions reflect our commitment to long-term stockholder value creation and our belief that GoHealth is structurally and strategically positioned to lead in a consolidating industry,” said Vijay Kotte, CEO of GoHealth. “With the new credit facility and the access to immediate and expandable capital it provides, we believe we are operating from a position of strength as we continue to serve the Medicare market, pursue disciplined growth and assess transformative opportunities.”

“The amendment to our existing credit agreement provides important financial flexibility,” said Brendan Shanahan, CFO of GoHealth. “Through this strategic financing arrangement, we have the ability to evaluate and pursue strategic transactions. We believe these enhancements position us to act decisively and responsibly in support of our strategic objectives.”

Additional information, including with respect to the Company’s preliminary financial results for the three and six months ended June 30, 2025, is included in the tables at the end of this press release.

Conference Call Details

The Company will host a conference call today, Thursday, August 7, 2025 at 8:00 a.m. (ET) to discuss recent strategic capital and governance actions. A live audio webcast of the conference call will be available via GoHealth’s Investor Relations website, https://investors.gohealth.com/. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call.

About GoHealth, Inc.

GoHealth is a leading health insurance marketplace and Medicare-focused digital health company whose purpose is to compassionately ensure consumers’ peace of mind when making healthcare decisions so they can focus on living life. For many of these consumers, enrolling in a health insurance plan is confusing and difficult, and seemingly small differences between health plans may lead to significant out-of-pocket costs or lack of access to critical providers and medicines. GoHealth’s proprietary technology platform leverages modern machine-learning algorithms, powered by over two decades of insurance purchasing behavior, to reimagine the process of matching a health plan to a consumer’s specific needs. Its unbiased, technology-driven marketplace coupled with highly skilled licensed agents has facilitated the enrollment of millions of consumers in Medicare plans since GoHealth’s inception. For more information, visit https://www.gohealth.com.

Investor Relations:
John Shave
JShave@gohealth.com
 
Media Relations:
Pressinquiries@gohealth.com

Forward-Looking Statements

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”). These forward-looking statements are made in reliance upon the safe harbor provision of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release may be forward-looking statements. Statements regarding our future results of operations and financial position, liquidity, business strategy and plans and objectives of management for future operations, including, among others, statements regarding the expected results of the strategic capital and governance actions announced hereby, our expected growth, pursuit of strategic alternatives and strategic objectives, long-term value creation, magnitude of expected impairments, our capital structure, future capital expenditures, debt service obligations, ability to continue as a going concern, adoption and use of artificial intelligence technologies, the impact on our business from regulatory changes, the impact on our business from the acquisition of e-TeleQuote Insurance, Inc. (“e-TeleQuote”) and our ability to successfully integrate e-TeleQuote’s operations, technologies and employees into our business, are forward-looking statements.

In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “aims,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “likely,” “future” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions, projections and other statements about future events that are based on current expectations and assumptions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.

These forward-looking statements speak only as of the date of this press release and are subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking statements, including our inability to realize our expectations with respect to the strategic capital and governance actions announced hereby, our inability to execute on strategic alternatives or strategic objectives, our level of indebtedness, our level of liquidity, and the factors described in the sections titled “Summary Risk Factors,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (“2024 Annual Report on Form 10-K”), our Quarterly Report on Form 10-Q for the first quarter ended March 31, 2025 (“Q1 2025 Quarterly Report on Form 10-Q”), our forthcoming Quarterly Report on Form 10-Q for the second quarter ended June 30, 2025 (“Q2 2025 Quarterly Report on Form 10-Q”) and in our other filings with the Securities and Exchange Commission. The factors described in our 2024 Annual Report on Form 10-K, our Q1 2025 Quarterly Report on Form 10-Q and our forthcoming Q2 2025 Quarterly Report on Form 10-Q should not be construed as exhaustive and should be read together with the other cautionary statements included in this press release, as well as the cautionary statements and other risk factors set forth in our other filings with the Securities and Exchange Commission.

You should read this press release and the documents that we reference in this press release completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

View full release here.

Release – Snail, Inc. Announces Entry Into At The Market Offering Agreement

Posted on by aweinsoff@channelchek.com

Research News and Market Data on SNAL

August 7, 2025 at 6:30 AM EDT

PDF Version

CULVER CITY, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, announced that it has entered into an At The Market Offering Agreement (the “Sales Agreement”) with H.C. Wainwright & Co. as sales agent to sell its shares of Class A Common Stock, par value $0.0001 per share (the “Class A Common Stock” or the “Shares”), from time to time in an at the market offering (the “Offering”). Pursuant to the Prospectus Supplement (as defined below) and accompanying base prospectus, we may offer and sell shares of the Class A Common Stock from time to time under the Sales Agreement, having an aggregate offering price of up to $4,500,000 in the Offering.

Snail, Inc. currently intends to use the net proceeds from the sale of the shares of the Class A Common Stock offered by the Company under the Sales Agreement (if any) primarily for working capital to support the Company’s digital asset initiative that includes the evaluation and feasibility for introduction of the Company’s own proprietary stablecoin backed by U.S. dollars and for certain net proceeds to serve as the reserve asset for the stablecoins that the Company intends to issue.

The sales, if any, of the Shares made in the Offering will be made by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), including sales made directly on or through the Nasdaq Capital Market (the “Nasdaq”) or any other existing trading market for the Class A Common Stock.

The Offering will be made only by means of a prospectus supplement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 7, 2025, together with the accompanying base prospectus contained therein (the “Prospectus Supplement”), which Prospectus Supplement forms a part of the Company’s shelf registration statement on Form S-3 (File No. 333-282030) (the “Registration Statement”), which was declared effective by the SEC on September 20, 2024. Electronic copies of the Prospectus Supplement and accompanying base prospectus may be obtained on the SEC’s website at www.sec.gov or by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022 at atm@hcwco.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the shares of Class A Common Stock discussed herein, nor shall there be any sale of such shares 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 Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding (i) that we will sell shares of Class A Common Stock, if any, in the Offering and the price at which any such shares will be sold, (ii) that investors who buy shares at different times in the Offering will likely pay different prices, (iii) the proposed use of proceeds, if any, from the Offering, and (iv) the Company’s ability to successfully explore a strategic digital asset initiative that includes the evaluation and feasibility for introduction of its own proprietary stablecoin backed by U.S. dollars, including, but not limited to the various licensing requirements and significant compliance costs that the Company will face to implement such initiative. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC, the Company’s Current Reports on Form 8-K and other documents filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com 

Release – NN, Inc. Reports Second Quarter 2025 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on NNBR

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 Improvement in Operating Income, Adjusted EBITDA, and New Business Program

Company Reiterates Full Year 2025 Guidance
 

CHARLOTTE, N.C., Aug. 06, 2025 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR) (“NN” or the “Company”), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today reported results for the second quarter ended June 30, 2025.

Second Quarter Highlights: (results from continuing operations compared with prior year, where comparisons are noted)

  • Net sales of $107.9 million, down 2.4% on a pro forma basis
  • Gross margin of 16.9%, and adjusted gross margin of 19.5%
  • Operating loss of $1.5 million and adjusted operating income of $4.9 million, an increase of $2.8 million
  • Adjusted EBITDA of $13.2 million, with an adjusted EBITDA margin of 12.2%
  • New business wins were $32.7 million in the first half of 2025, and NN has over 100 programs launching in 2025 that are expected to add greater than $45 million in future sales at full run-rate

Harold Bevis, President and Chief Executive Officer, said, “NN delivered a solid quarter for gross margins, operating income, adjusted operating income, and adjusted EBITDA. We are pleased with our reported results, new business acquisition, and new business launches. We leveraged the soft market environment to upsize our business development activities and investments. Our soft top-line centers around certain automotive customers. Conversely, we have been able to partially offset this weakness through the contribution of new business launches and precious metals pass-through pricing.”

“We have increased the size of our new business program in terms of prospecting, launching, and investing. We now have over 40 people in business development and launch, and we expect to launch over 100 new programs in 2025. We expect those launches will add over $45 million in future sales at run-rate. We plan to invest $18 to $20 million on capital projects in 2025. The twin goals of lowering our costs overall as a company while adding increased focus on growth is working and will be the main drivers of sustained top-line growth and increased profitability.”

Mr. Bevis continued, “Our current expectation is that some of our automotive markets may have similar soft patterns in the second half of 2025. In response, we have activated our own mitigation levers including tight cost controls and working capital actions. We are underway with tariff mitigation efforts with our customers and have positioned ourselves as a tariff problem solver.”

“We are using this opportunity to accelerate our transformation activities. We are actively investing in growth capex, and we have hired additional personnel to accelerate growth in our targeted areas. We recently announced the hiring of Tim Erro as NN’s new Chief Commercial Officer and have also added new account managers in our targeted areas of medical, stampings, and electrical products. We now have a core team of electrical harness experts and are evaluating an organic entry into this new market, just as we have done to enter the medical market.”

Mr. Bevis concluded, “Our transformation plan is working and we have increased our efforts during this slow auto market. Lastly, we have fully kicked off an M&A program and are seeking targets that are consistent with our strategy and can help refinance our preferred stock.”

Second Quarter Results

Net sales were $107.9 million, a decrease of 12.3% compared to the second quarter of 2024 net sales of $123.0 million, primarily due to the rationalization of underperforming business and plants in 2024, the sale of our Lubbock operations in 2024, and lower automotive volumes. These decreases were partially offset by the contribution of 70 new business launches in the first half of 2025 and higher precious metals pass-through pricing. Loss from operations for the second quarter of 2025 was $1.5 million, an improvement of 28.6% compared to the second quarter of 2024 loss from operations of $2.1 million.

Second Quarter Adjusted Results

Pro forma net sales when adjusted for rationalized sales, currency changes, and the sale of Lubbock, were a decrease of 2.4% in the second quarter when compared to the second quarter of 2024.

Adjusted income from operations for the second quarter of 2025 was $4.9 million compared to adjusted income from operations of $2.1 million for the same period in 2024. Adjusted EBITDA was $13.2 million, or 12.2% of sales, compared to $13.4 million, or 10.9% of sales, for the same period in 2024.

Adjusted net income was $0.7 million, or $0.02 per diluted share, compared to adjusted net loss of $0.7 million, or $(0.02) per diluted share, for the same period in 2024. Free cash flow was a use of cash of $3.2 million compared to a use of cash of $1.3 million for the same period in 2024.

Power Solutions

Net sales for the second quarter of 2025 were $44.6 million compared to $50.2 million in the same period in 2024. The decrease is primarily due to the sale of our Lubbock operations, partially offset by higher precious metals pass-through pricing. Income from operations was $5.8 million compared to income from operations of $5.3 million for the same period in 2024.

Adjusted income from operations was $8.4 million compared to $8.1 million in the second quarter of 2024. The increase in adjusted income from operations was primarily due to favorable product mix, and lower operating costs.

Mobile Solutions

Net sales for the second quarter of 2025 were $63.4 million compared to $72.9 million in the second quarter of 2024. The decrease in sales was primarily due to rationalized volume and lower automotive volume. Loss from operations was $1.1 million compared to loss from operations of $1.6 million for the same period in 2024.

Adjusted income from operations was $2.3 million compared to adjusted loss from operations of $0.7 million in the second quarter of 2024. The increase in adjusted income from operations was primarily due to improved margin mix of sales and lower operating costs.

2025 Outlook

NN is maintaining its full-year 2025 outlook.

  • Net sales to range between $430 to $460 million
  • Adjusted EBITDA to range between $53 to $63 million
  • Free cash flow to range between $14 to $16 million; guidance assumes receipt of CARES Act refund in 2025
  • New business wins to range between $60 to $70 million

Chris Bohnert, Senior Vice President and Chief Financial Officer, commented, “Our second quarter results were largely in line with expectations. We are maintaining our current guidance and given the ongoing tariff-driven uncertainties and the anticipated downstream effects for our customers, we continue to direct expectations towards the lower end of our guided ranges. We note that the uncertainty of the current macroeconomic environment, particularly the potential for shifts in trade policy and interest rates could drive variability in our results, which may fall above or below our current forecasts. Irrespective of the near-term macroeconomic backdrop, we continue to pursue expense mitigation and operational efficiencies to partially offset potential impacts to end market demand. We are investing in commercial enhancements to accelerate future growth, and we remain optimistic about the strong pace of our transformation and growth opportunities.”

Conference Call

NN will discuss its results during its quarterly investor conference call on August 7, 2025, at 9 a.m. ET. The call and supplemental presentation may be accessed via NN’s website, www.nninc.com. The conference call can also be accessed by dialing 1-888-999-3182 or 1-848-280-6330. For those who are unavailable to listen to the live broadcast, a replay will be available shortly after the call until August 7, 2026.

NN discloses in this press release the non-GAAP financial measures of adjusted income (loss) from operations, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted net income (loss) per diluted common share, and free cash flow. Each of these non-GAAP financial measures provides supplementary information about the impacts of acquisition, divestiture and integration related expenses, foreign-exchange impacts on inter-company loans, reorganizational and impairment charges.

The financial tables found later in this press release include a reconciliation of adjusted income (loss) from operations, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss), adjusted net income (loss) per diluted share, free cash flow to the U.S. GAAP financial measures of income (loss) from operations, net income (loss), net income (loss) per diluted common share, and cash provided (used) by operating activities.

About NN, Inc.

NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, South America, Europe and China. For more information about the company and its products, please visit www.nninc.com.

This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our financial outlook for the full year of fiscal 2025, the impact of, and our ability to execute, our corporate strategies and business initiatives and the potential impact tariffs, high interest rates, high metal costs and additional economic uncertainties may have on our financial statements and results of operations. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “growth,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project”, “trajectory” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the potential impacts of tariffs on the U.S. economy, the economy of other countries in which we conduct operations and our industry, as well as the potential implications and ramifications of tariffs on our business and the local and global supply chains supporting the same, and our ability to mitigate any adverse impacts of such; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; uncertainty of government policies and actions after recent U.S. elections in respect to global trade, tariffs and international trade agreements; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the U.S. Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release and are based on information available to NN at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

With respect to any non-GAAP financial measures included in the following document, the accompanying information required by SEC Regulation G can be found in the back of this document or in the “Investors” section of the Company’s web site, www.nninc.com, under the heading “News & Events” and subheading “Presentations.”

Investor & Media Contacts: 
Joe Caminiti or Stephen Poe
NNBR@alpha-ir.com
312-445-2870

View full release here.

Source: NN, Inc.

Release – MariMed Reports Second Quarter 2025 Earnings

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MRMD

August 06, 2025 5:00pm EDT

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Earnings WebcastAudio

NORWOOD, Mass., Aug. 06, 2025 (GLOBE NEWSWIRE) — MariMed Inc. (“MariMed” or the “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced its financial results for the second quarter ended June 30, 2025.

Management Commentary

“We delivered growth and expanded operations across our business during the second quarter, continuing our progress of building a leading cannabis consumer packaged goods company,” said Jon Levine, MariMed Chief Executive Officer. “Our ‘Expand the Brand’ strategy is working. Our innovative, high-quality portfolio of brands grew or maintained their market share across our core markets. We remain confident in delivering the shareholder value our investors deserve by leveraging our brands as the primary growth engine of our company. Looking ahead, we anticipate increasing product distribution through the addition of adult-use sales in Delaware, a new licensing agreement in Maine, and our recently announced entry into Pennsylvania. In addition, the strength of our balance sheet affords us optionality with respect to M&A and licensing opportunities.”

“We delivered sequential growth in both wholesale and retail revenues for the second quarter, a substantial increase in adjusted EBITDA, and we were cash flow positive,” said Mario Pinho, MariMed Chief Financial Officer. “Our performance reflects strong execution in Massachusetts, full-quarter contributions from Delaware, and a solid retail strategy. With the METRC system migration in Illinois behind us and Missouri under active review, we remain confident in the revenue catalysts we have built for the second half of the year, including adult use in Delaware, entry into Pennsylvania, and expanded wholesale.”

Financial Highlights1

The following table summarizes the Company’s consolidated financial highlights (in millions, except percentage amounts):

1 See the reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures and additional information about non-GAAP measures in the section entitled “Discussion of Non-GAAP Financial Measures” below and in the financials information included herewith.

CONFERENCE CALL

MariMed management will host a conference call on Thursday, August 7, 2025 at 8:00 a.m. Eastern time, to discuss these results. The conference call may be accessed through MariMed’s Investor Relations website, or by clicking the following link: Q2 2025 MRMD Earnings Call.

SECOND QUARTER 2025 OPERATIONAL HIGHLIGHTS

During the second quarter, the Company announced the following development in the implementation of its strategic growth plan:

  • April 1: Launched its Nature’s Heritage™-branded cannabis flower, pre-rolls, and vapes in Illinois, marking the first time the brand’s premium products are available in the state.
  • April 3: Expanded the line-up of its top-selling Betty’s Eddies™-branded cannabis chews with the introduction of a new caramel chew, Betty’s Caramelt Away.
  • April 8: Promoted Ryan Crandall to Chief Commercial Officer to lead the Company’s commercial strategy and activities, including Sales, Marketing, Product Development, and Retail Operations. He had served as the Company’s Chief Revenue Officer since July 2022, and previously was its Chief Products Officer and SVP, Sales for four years.
  • May 29: Expended its branded product line-up with the introduction of MycroDose by Nature’s Heritage, a vegan pill that combines full-spectrum cannabis with the added benefits of functional mushrooms.

OTHER DEVELOPMENTS

Subsequent to the end of the second quarter, the Company announced the following further developments:

  • July 14: Expanded the distribution of Betty’s Eddies to Maine for both adult-use cannabis consumers and medical patients through a new licensing partnership.
  • July 31: Announced a Managed Services Agreement (“MSA”) to assume day-to-day management of a cultivation and processing facility in Pennsylvania owned by a division of multi-state cannabis operator TILT Holdings. In addition, a licensing agreement will enable the Company to distribute its award-winning, branded products in Pennsylvania, which is anticipated to become the next state to expand its legal cannabis program to include adult-use sales.

DISCUSSION OF NON-GAAP FINANCIAL MEASURES

MariMed’s management uses several different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of its business, making operating decisions, and planning and forecasting future periods. The Company has provided in this release several non-GAAP financial measures: Non-GAAP Adjusted EBITDA and non-GAAP Adjusted EBITDA margin, Non-GAAP Gross margin, Non-GAAP Operating expenses and Non-GAAP Net income (loss), as supplements to Revenue, Gross margin, Operating expenses, Income (loss) from operations, Net income (loss) and other financial measures prepared in accordance with GAAP.

Management believes these non-GAAP financial measures are useful in reviewing and assessing the performance of the Company, and when planning and forecasting future periods, as they provide meaningful operating results by excluding the effects of expenses that are not reflective of its operating business performance. In addition, the Company’s management uses these non-GAAP financial measures to understand and compare operating results across accounting periods and for financial and operational decision-making. The presentation of these non-GAAP measures is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP.

Management believes that investors and analysts benefit from considering non-GAAP financial measures in assessing the Company’s financial results and its ongoing business, as it allows for meaningful comparisons and analysis of trends in the business. In particular, non-GAAP adjusted EBITDA is used by many investors and analysts themselves, along with other metrics, to compare financial results across accounting periods and to those of peer companies.

As there are no standardized methods of calculating non-GAAP financial measures, the Company’s calculations may differ from those used by analysts, investors and other companies, even those within the cannabis industry, and therefore may not be directly comparable to similarly titled measures used by others.

Management defines non-GAAP Adjusted EBITDA as income (loss) from operations, determined in accordance with GAAP, excluding the following items:

  • depreciation and amortization of property and equipment;
  • amortization of acquired intangible assets;
  • impairment or write-downs of acquired intangible assets;
  • inventory revaluation;
  • stock-based compensation;
  • severance;
  • legal settlements; and
  • acquisition-related and other expenses.

For further information, please refer to the publicly available financial filings available on MariMed’s Investor Relations website, as filed with the U.S. Securities and Exchange Commission, or as filed with the Canadian securities regulatory authorities on the SEDAR website.

ABOUT MARIMED
MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, Vibations™, InHouse™, and Nature’s Heritage™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.

IMPORTANT CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
The information in this release contains “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to several risks and uncertainties. All statements other than statements of historical facts contained in this release, including without limitation statements regarding projected financial results for 2025, including anticipated openings of dispensaries and facilities, timing of regulatory approvals, plans and objectives of management for future operations, are forward-looking statements. Without limiting the foregoing, the words “anticipates”, “believes”, “estimates”, “expects”, “expectations”, “intends”, “may”, “plans”, and other similar language, whether in the negative or affirmative, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on our current beliefs and assumptions regarding our business, timing of regulatory approvals, the ability to obtain new licenses, business prospects and strategic growth plan, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated in these forward-looking statements due to various risks, uncertainties, and other important factors, including, among others, reductions in customer spending, our ability to recruit and retain key personnel, and disruptions from the integration efforts of acquired companies.

These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect our business and results of operations. These statements are not a guarantee of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement, and changes in the economic environment. Additional information regarding these and other factors can be found in our reports filed with the U.S. Securities and Exchange Commission. In providing these forward-looking statements, the Company expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.

All trademarks and service marks are the property of their respective owners.

Neither the CSE nor its Regulation Services accepts responsibility for the adequacy or accuracy of this release.

For More Information Contact:

Howard Schacter, Chief Communications Officer
Email: hschacter@marimedinc.com
Phone: (781) 277-0007

View full release here.

Source: MariMed Inc.

Released August 6, 2025

Release – ISG to Acquire Martino & Partners, Expanding Business in Italy

Posted on by aweinsoff@channelchek.com

Research News and Market Data on III

8/6/2025

The following news was originally announced in ISG’s second-quarter 2025 results release today:

Acquisition will add to ISG’s client base, geographic footprint and capabilities to serve Italy’s public and private sectors

STAMFORD, Conn. ― Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, today announced it has signed a definitive agreement to acquire Martino & Partners, a highly respected strategic advisory firm serving public and private sectors clients in Italy. The transaction is expected to close in early September.

The addition of Milan-based Martino & Partners will expand ISG’s client base, geographic footprint and capabilities in Italy, including AI, in a market with emerging growth potential fueled by European Union-funded technology modernization programs and a focus on AI and cost optimization.

“This acquisition represents a further investment in our European business and expands our addressable market in Italy, where we see an emerging growth opportunity,” said Michael P. Connors, chairman and CEO of ISG. “Martino & Partners brings more than 20 new clients to ISG Italy; expands our public sector reach beyond the central government to serve municipal entities, and gives us a strong presence in northern Italy, where many leading commercial enterprises are located.” 

The combined businesses, which will go to market as ISG Italy, will have nearly 40 professionals working out of multiple locations, including Milan and Rome. 

“Martino and Partners is the perfect complement to our ISG Italy business,” Connors said. “We have worked together previously on several client engagements, so we are very familiar with the firm, their leadership and their talented professionals. This is a win-win for both firms.” 

The acquisition comes at a time of emerging demand for advisory services in Italy, particularly in the public sector, which is seeking strategic advice and support to leverage programs such as the Next Generation EU and Digital Decade initiatives to modernize technology infrastructure and services. Overall interest in AI and cost optimization continues to be high as companies look to use technology to become more efficient and gain competitive advantage in a challenging macro environment. 

“Since our founding 10 years ago, Martino & Partners has earned a reputation as one of the leading strategic advisory firms in Italy,” said Andrea Martino, the firm’s co-founder and CEO, who will serve as CEO of ISG Italy. “Our approach is to think big, speak plainly and challenge conventional wisdom. We are excited to be joining forces with ISG, whose global resources and strong domain expertise will make our combined businesses an even more powerful player with stronger growth potential in the Italian marketplace.”

In addition to Martino, ISG Italy’s senior management team will include Claudia De Roma, Martino & Partners co-founder, who will lead the ISG Italy public administration segment.

For more information, visit the ISG and Martino & Partners websites.

About ISG

ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

Release – Information Services Group Announces Second-Quarter 2025 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on III

8/6/2025

  • Reports second-quarter GAAP revenues of $62 million, exceeding guidance and up 7% versus prior year, excluding results from divested automation unit
  • Reports second-quarter GAAP net income of $2.2 million, GAAP EPS of $0.04 and adjusted EPS of $0.08
  • Reports second-quarter adjusted EBITDA of $8.3 million, up 17% versus prior year
  • Generates $12 million in cash from operations, up from $2.2 million in prior year
  • Agrees to acquire Martino & Partners, a strategic advisory firm serving clients in Italy
  • Declares third-quarter dividend of $0.045 per share, payable September 26, 2025, to shareholders of record as of September 5, 2025
  • Sets third-quarter guidance: revenues between $60.5 million and $61.5 million and adjusted EBITDA between $7.5 million and $8.5 million

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm, today announced financial results for the second quarter ended June 30, 2025.

“ISG delivered an excellent second quarter, underscoring our momentum as an AI-centered firm with strong, trusted client relationships,” said Michael P. Connors, chairman and CEO. “Excluding our divested automation unit, Q2 revenues were up 7 percent, led by our surging Americas business, up 16 percent. Our adjusted EBITDA was up 17 percent, with our adjusted EBITDA margin up more than 200 basis points. And we achieved strong operating cash flow of $12 million, one of our best quarters ever for cash generation.

“For the first half of 2025, adjusted EBITDA was nearly $16 million, up 36 percent from the prior year, and our adjusted EBITDA margin was up nearly 400 basis points, reflecting our improved global business mix and strong execution of our business strategy.”

Connors said ISG is well positioned to compete in a business environment where uncertainty “has become the norm.”

“Enterprises remain cautious about tech spending in general but continue to leverage technology for cost optimization while moving forward aggressively to modernize their infrastructure as they prepare for broad adoption of AI,” Connors said. “These trends are right in ISG’s sweet spot. Our AI-centered positioning, investment in expanded AI capabilities and long-term focus on operational excellence continue to resonate with our client base. We are well positioned for success.”

ISG Agrees to Acquire Martino & Partners

ISG has signed a definitive agreement to acquire Martino & Partners, a highly respected strategic advisory firm serving public and private sectors clients in Italy. The transaction is expected to close in early September.

The addition of Milan-based Martino & Partners will expand ISG’s client base, geographic footprint and capabilities in Italy, including AI, in a market with emerging growth potential fueled by European Union-funded technology modernization programs and a focus on AI and cost optimization.

“This acquisition represents a further investment in our European business and expands our addressable market in Italy, where we see an emerging growth opportunity,” said Connors. “Martino & Partners brings more than 20 new clients to ISG Italy; expands our public sector reach beyond the central government to serve municipal entities, and gives us a strong presence in northern Italy, where many leading commercial enterprises are located.”

Second-Quarter 2025 Results

Reported revenues for the second quarter were $61.6 million, down 4 percent from $64.3 million in the prior year. Excluding second-quarter 2024 results from ISG’s automation unit, which the firm divested on October 1, 2024, revenues were up 7 percent. Currency translation positively impacted reported revenues by $0.8 million versus the prior year.

Excluding second-quarter 2024 automation results, revenues were $39.5 million in the Americas, up 16 percent versus the prior year, and down 1 percent on a reported basis. Revenues in Europe were $16.6 million, down 7 percent, excluding automation results, and down 12 percent on a reported basis, and Asia Pacific revenues were $5.4 million, down 1 percent on a reported basis, all versus the prior year.

ISG reported second-quarter operating income of $4.7 million, compared with operating income of $3.7 million in the prior year. Reported second-quarter net income was $2.2 million, compared with net income of $2.0 million in the prior year. Fully diluted income per share was $0.04, compared with income per fully diluted share of $0.04 in the prior year.

Adjusted net income (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) for the second quarter was $4.1 million, or $0.08 per share on a fully diluted basis, compared with adjusted net income of $3.8 million, or $0.08 per share on a fully diluted basis, in the prior year’s second quarter.

Second-quarter adjusted EBITDA (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) was $8.3 million, up 17 percent from the prior year. Adjusted EBITDA margin (a non-GAAP measure calculated by dividing adjusted EBITDA by reported revenues) was 13.5 percent, up 241 basis points from 11.1 percent in the prior year.

Other Financial and Operating Highlights

ISG generated $11.9 million of cash from operations in the second quarter, compared with generating $2.2 million of cash in the second quarter last year. The firm’s cash balance totaled $25.2 million at June 30, 2025, up 25 percent from $20.1 million at March 31, 2025.

During the second quarter, ISG paid dividends of $2.4 million and repurchased $4.0 million of shares.

2025 Third-Quarter Revenue and Adjusted EBITDA Guidance

“ISG is well positioned for continuing success, with a mix of cost optimization, research and digital transformation platforms and services focused on AI that meet the needs of the market,” Connors said. “For the third quarter, ISG is targeting revenues of between $60.5 million and $61.5 million and adjusted EBITDA of between $7.5 million and $8.5 million. We will continue to monitor the macro environment, including the impact of tariffs, FX, inflation and other factors, and adjust our business plans accordingly.”

Quarterly Dividend

The ISG Board of Directors declared a third-quarter dividend of $0.045 per share, payable on September 26, 2025, to shareholders of record as of September 5, 2025.

Conference Call

ISG has scheduled a call for 9 a.m., U.S. Eastern Time, August 7, 2025, to discuss the company’s second-quarter results. The call can be accessed by dialing +1 (800) 715-9871; or, for international callers, by dialing +1 (646) 307-1963. The access code is 9414856. A recording of the conference call will be accessible on ISG’s investor relations page for approximately four weeks following the call.

Forward-Looking Statements

This communication contains “forward-looking statements” which represent the current expectations and beliefs of management of ISG concerning future events and their potential effects. Statements contained herein including words such as “anticipate,” “believe,” “contemplate,” “plan,” “estimate,” “target,” “expect,” “intend,” “will,” “continue,” “should,” “may,” and other similar expressions, are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future results and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Those risks relate to inherent business, economic and competitive uncertainties and contingencies relating to the businesses of ISG and its subsidiaries including without limitation: (1) failure to secure new engagements or loss of important clients; (2) ability to hire and retain enough qualified employees to support operations; (3) ability to maintain or increase billing and utilization rates; (4) management of growth; (5) success of expansion internationally; (6) competition; (7) ability to move the product mix into higher margin businesses; (8) general political and social conditions such as war, political unrest and terrorism; (9) healthcare and benefit cost management; (10) ability to protect ISG and its subsidiaries’ intellectual property or data and the intellectual property or data of others; (11) currency fluctuations and exchange rate adjustments; (12) ability to successfully consummate or integrate strategic acquisitions; (13) outbreaks of diseases, including coronavirus, or similar public health threats or fear of such an event; (14) engagements may be terminated, delayed or reduced in scope by clients; (15) the effect of the divestiture of the automation unit on ISG’s relationships with its customers and suppliers and on its retained business generally; (16) the success of ISG’s focus on AI advisory and AI-powered platforms; (17) changes to trade policy, and (18) potential employment-related claims. Certain of these and other applicable risks, cautionary statements and factors that could cause actual results to differ from ISG’s forward-looking statements are included in ISG’s filings with the U.S. Securities and Exchange Commission. ISG undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Non-GAAP Financial Measures

ISG reports all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). In this release, ISG has presented both GAAP financial results as well as non-GAAP information for the three and six months ended June 30, 2025, and June 30, 2024. ISG believes that evaluating its ongoing operating results will be enhanced if it discloses certain non-GAAP information. These non-GAAP financial measures exclude non-cash and certain other special charges that many investors believe may obscure the user’s overall understanding of ISG’s current financial performance and the Company’s prospects for the future. ISG believes that these non-GAAP measures provide useful information to investors because they improve the comparability of the financial results between periods and provide for greater transparency of key measures used to evaluate the Company’s performance.

ISG provides adjusted EBITDA (defined as net income, plus interest, taxes, depreciation and amortization, foreign currency transaction gains/losses, non-cash stock compensation, interest accretion associated with contingent consideration, acquisition- and disposition-related costs, and severance, integration and other expense), adjusted net income (defined as net income, plus amortization of intangible assets, non-cash stock compensation, foreign currency transaction gains/losses, interest accretion associated with contingent consideration, acquisition- and disposition-related costs and severance, integration and other expense on a tax-adjusted basis), adjusted net income per diluted share, adjusted EBITDA margin, and selected financial data on a constant currency basis which are non-GAAP measures that the Company believes provide useful information to both management and investors by excluding certain expenses and financial implications of foreign currency translations, which management believes are not indicative of ISG’s core operations. These non-GAAP measures are used by ISG to evaluate the Company’s business strategies and management’s performance.

We evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP financial measure, excludes the impact of year-over-year fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the Company’s performance. We calculate constant currency percentages by converting our current and prior-periods local currency financial results using the same point in time exchange rates and then compare the adjusted current and prior period results. This calculation may differ from similarly titled measures used by others and, accordingly, the constant currency presentation is not meant to be a substitution for recorded amounts presented in conformity with GAAP, nor should such amounts be considered in isolation.

Management believes this information facilitates comparison of underlying results over time. Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure. Non-GAAP measures are provided as additional information and should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the forward-looking non-GAAP estimates contained herein to the corresponding GAAP measures is not being provided, due to the unreasonable efforts required to prepare it.

About ISG

ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world’s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.

View full release here.

Source: Information Services Group, Inc.

Release – CoreCivic Reports Second Quarter 2025 Financial Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CXW

August 6, 2025

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Raises 2025 Full Year Guidance 
Increasing Demand Drives Strong Financial Performance

BRENTWOOD, Tenn., Aug. 06, 2025 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today its second quarter 2025 financial results.  

Financial Highlights – Second Quarter 2025

  • Total revenue of $538.2 million, up 9.8% from the prior year quarter
  • Net income of $38.5 million, up 103.4% from the prior year quarter
  • Diluted earnings per share of $0.35, up 105.9% from the prior year quarter
  • Adjusted diluted earnings per share of $0.36, up 80.0% from the prior year quarter
  • Normalized FFO per diluted share of $0.59, up 40.5% from the prior year quarter
  • Adjusted EBITDA of $103.3 million, up 23.2% from the prior year quarter
  • Repurchased 2.0 million shares of our common stock at an aggregate cost of $43.2 million

Damon T. Hininger, CoreCivic’s Chief Executive Officer, commented, “Increasing demand for the solutions we provide, particularly from U.S. Immigration and Customs Enforcement (ICE), contributed to a strong second quarter, as nationwide detention populations under ICE custody reached an all-time high. We expect the substantial increase in government funding approved during July to result in further increases in the utilization of our existing capacity. Based on the strength of our second quarter financial results and outlook for our business during the second half of 2025, we are increasing our 2025 financial guidance.”

Hininger continued, “We continued to deploy capital in ways that we believe add shareholder value. During the second quarter, we repurchased 2.0 million shares of our common stock at an aggregate cost of $43.2 million. At the beginning of the third quarter, we completed the acquisition of the Farmville Detention Center in Virginia for $67 million at an attractive return.”

Patrick Swindle, CoreCivic’s President and Chief Operating Officer, remarked, “We made substantial progress in re-activating three previously idled facilities during the second quarter, and our activation teams are preparing for additional contracting activity. ICE has been deliberate in increasing detention utilization under existing contracts while also executing new contracts at previously idled facilities. We expect to begin receiving detainees at our California City Immigration Processing Center in the near term, we are in advanced negotiations to activate a fourth idle facility, and we continue discussions to activate additional idle facilities. During the third quarter we also began integrating operations at the Farmville Detention Center, where we provide transportation, care, and civil detention services to adult male noncitizens under ICE custody. Along with the acquisition of the facility, we welcomed approximately 200 employees to our team.”

Second Quarter 2025 Financial Results Compared With Second Quarter 2024

Net income in the second quarter of 2025 was $38.5 million, or $0.35 per diluted share, compared with net income in the second quarter of 2024 of $19.0 million, or $0.17 per diluted share (Diluted EPS).   Adjusted for special items, Adjusted Net Income for the second quarter of 2025 was $39.7 million, or $0.36 per diluted share (Adjusted Diluted EPS), compared with Adjusted Net Income of $21.8 million, or $0.20 per diluted share, in the prior year quarter. Special items in the second quarter of 2025 included charges of $1.5 million associated with the acquisition of the Farmville Detention Center, included in general and administrative expenses in our consolidated statement of operations. Special items in the prior year quarter included $4.1 million of expenses associated with debt repayments and refinancing transactions. Special items are presented in detail in the calculation of Adjusted Net Income and Adjusted Diluted EPS in the Supplemental Financial Information following the financial statements presented herein.  

The increase in Diluted EPS and Adjusted Diluted EPS compared with the prior year quarter resulted from higher federal and state populations as well as higher average per diem rates across much of our portfolio, combined with the recognition of employee retention credits (ERCs) available under the Coronavirus Aid, Relief and Economic Security Act amounting to $0.08 per share. These increases were net of the financial impact of the termination of our contract with ICE at the Dilley Immigration Processing Center effective August 9, 2024. However, we began re-activating the Dilley facility during March 2025.   The agreement governing the reactivation provides for a fixed monthly payment from ICE in accordance with a graduated schedule to correlate with the activation of each neighborhood within the facility. The Dilley facility accounted for a $0.07 per share reduction compared with the second quarter of 2024.

We cared for an average daily residential population of 54,026 during the second quarter of 2025 in our Safety and Community segments compared with 51,541 during the second quarter of 2024. Average occupancy during the second quarter of 2025 was 76.8% in our Safety and Community segments, compared with 74.3% during the second quarter of 2024, even after reflecting the activation and transfer of our 2,560-bed California City Immigration Processing Center from the Properties segment to the Safety segment effective April 1, 2025, when we entered into a Letter Contract with ICE to reactive operations at the facility. The California City facility was previously in our Properties segment because it was leased to the California Department of Corrections and Rehabilitation until the lease expired March 31, 2024. We expect to begin receiving detainees from ICE at the California City facility in the near term under terms of the Letter Contract.

During the second quarter of 2025, revenue from ICE, our largest government partner, was $176.9 million compared to $151.0 million during the second quarter of 2024, an increase of 17.2%, including the termination of our ICE contract at the Dilley facility effective August 9, 2024, partially offset by its reactivation effective April 1, 2025. The termination and reactivation accounted for a net reduction in revenue of $12.8 million. Revenue from state customers increased 5.2% compared with the prior year quarter, with increases across many of our government customers. New contracts with the state of Montana executed in August 2024 and January 2025 accounted for the largest increase in revenue from state customers. Further, revenue from the U.S. Marshals Service, our second largest government customer, increased 2.7% from the prior year quarter.

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter of 2025 was $101.8 million, compared with $79.8 million in the second quarter of 2024. Adjusted EBITDA, which excludes special items, was $103.3 million in the second quarter of 2025, compared with $83.9 million in the second quarter of 2024.   The increases in EBITDA and Adjusted EBITDA from the prior year quarter were primarily attributable to higher residential populations in our portfolio, net of reductions for the contract termination at the Dilley facility and the expiration of the lease with the CDCR at the California City facility. The increases in EBITDA and Adjusted EBITDA also included $8.3 million of ERCs recognized during the second quarter of 2025, and $3.2 million of interest collected on the ERCs.

Funds From Operations (FFO) for the second quarter of 2025 was $63.5 million, or $0.58 per share, compared with $43.8 million, or $0.39 per share, in the second quarter of 2024. Normalized FFO, which excludes special items, was $64.6 million, or $0.59 per diluted share, in the second quarter of 2025, compared with $46.6 million, or $0.42 per share, in the second quarter of 2024. Normalized FFO was impacted by the same factors that affected Adjusted EBITDA, further improved by a reduction in gross interest expense that is not reflected in Adjusted EBITDA. The reduction in gross interest expense resulted from a decrease in our average outstanding debt balance combined with a decrease in the interest rates associated with our variable rate debt. Per share amounts were also favorably impacted by a 2.1% reduction in weighted average shares outstanding compared with the prior year quarter resulting from repurchases we made under our share repurchase program.

Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO, and, where appropriate, their corresponding per share amounts, are measures calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP). Please refer to the Supplemental Financial Information and the note following the financial statements herein for further discussion and reconciliations of these measures to net income, the most directly comparable GAAP measure.

Capital Strategy

Share Repurchases. Our Board of Directors (BOD) previously approved a share repurchase program authorizing the Company to repurchase up to $350.0 million of our common stock. On May 15, 2025, the BOD authorized an increase to the share repurchase program by which we may purchase up to an additional $150.0 million in shares of our outstanding common stock, increasing the total aggregate authorization to up to $500.0 million. During the six months ended June 30, 2025, we repurchased 3.9 million shares of common stock under the share repurchase program at an aggregate cost of $81.0 million, or $20.52 per share, excluding costs associated with the share repurchase program, including 2.0 million shares at an aggregate cost of $43.2 million during the second quarter of 2025. Since the share repurchase program was authorized in May 2022, through June 30, 2025, we have repurchased a total of 18.5 million shares of our common stock at an aggregate cost of $262.1 million, or $14.19 per share, excluding fees, commissions and other costs related to the repurchases.

As of June 30, 2025, we had $237.9 million of repurchase authorization available under the share repurchase program. Additional repurchases of common stock will be made in accordance with applicable securities laws and may be made at management’s discretion within parameters set by the BOD from time to time in the open market, through privately negotiated transactions, or otherwise. The share repurchase program has no time limit and does not obligate us to purchase any particular amount of our common stock. The authorization for the share repurchase program may be terminated, suspended, increased or decreased by our BOD in its discretion at any time.  

Acquisition of Farmville Detention Center. On July 1, 2025, we completed the acquisition of the Farmville Detention Center, a 736-bed facility constructed in 2010 and located in Farmville, Virginia. The transaction was consummated through the acquisition of 100% of the membership interests in entities that own and operate the facility, as well as the acquisition of certain assets utilized in the operation of the business. Farmville Detention Center provides transportation, care, and civil detention services to adult male noncitizens through an Intergovernmental Service Agreement (IGSA) between Prince Edward County, Virginia and ICE, which expires in March 2029. The total purchase price, amounting to $67.0 million, was funded with cash on hand and borrowing capacity under our revolving bank credit facility. We expect annual incremental revenue of approximately $40.0 million resulting from this acquisition.

Business Development Updates

Activation of the Dilley Immigration Processing Center. On March 5, 2025, we announced that we had agreed under an amendment to an IGSA to resume operations and care for up to 2,400 individuals at the 2,400-bed Dilley Immigration Processing Center in Dilley, Texas. We began receiving residents at this facility during the second quarter of 2025. By the end of the second quarter of 2025, three of the five neighborhoods at the facility were operational. We currently expect all five neighborhoods at the facility to be fully operational on schedule by the end of the third quarter of 2025, when we expect to generate the full fixed monthly payment for the facility.

Intake Process Expected to Begin at the California City Immigration Processing Center. Effective April 1, 2025, we entered into a Letter Contract with ICE to begin activation efforts at our 2,560-bed California City Immigration Processing Center. The Letter Contract authorizes initial funding up to $10.0 million with maximum funding up to $31.2 million for a six-month period to help cover our start-up expenses while we work to negotiate and execute a long-term contract. We expect to begin receiving detainees from ICE at the California City facility in the near term under terms of the Letter Contract.   

Midwest Regional Reception Center. Effective March 7, 2025, we entered into a Letter Contract with ICE to begin activation efforts at our 1,033-bed Midwest Regional Reception Center. The Letter Contract authorizes initial funding up to $5.0 million with maximum funding up to $22.6 million for a six-month period to help cover our start-up expenses while we work to negotiate and execute a long-term contract. The intake process has been delayed by a lawsuit filed by the City of Leavenworth alleging that a Special Use Permit (SUP) is required to operate the facility. A state court granted a temporary restraining order barring us from housing detainees at the facility without first obtaining an SUP. We have filed an appeal in the state court on the basis that the SUP is not applicable under existing statute. We believe ICE remains intent on using this facility.

2025 Financial Guidance

Based on current business conditions, we are providing the following updated financial guidance for the full year 2025:

 Revised Guidance
Full Year 2025		Prior Guidance
Full Year 2025
Net income$116.4 million to $124.4 million$91.3 million to $101.3 million
Adjusted Net Income$115.5 million to $123.5 million$91.3 million to $101.3 million
Diluted EPS$1.08 to $1.15$0.83 to $0.92
Adjusted Diluted EPS$1.07 to $1.14$0.83 to $0.92
FFO per diluted share$1.98 to $2.06$1.72 to $1.82
Normalized FFO per diluted share$1.99 to $2.07$1.72 to $1.82
EBITDA$366.3 million to $372.3 million$331.0 million to $339.0 million
Adjusted EBITDA$365.0 million to $371.0 million$331.0 million to $339.0 million

Compared with our prior 2025 annual guidance provided on May 7, 2025, our revised 2025 guidance reflects the favorable results for the second quarter, updated occupancy projections consistent with current trends, the acquisition of the Farmville Detention Center, as well as our assumptions for the reactivation of the California City Immigration Processing Center based on the expectation of receiving detainee populations during the third quarter of 2025.

Consistent with our past practice, our guidance does not include the impact of any new contract awards not previously announced. However, we may continue to execute new contracts during the balance of 2025, and may revise guidance throughout the year if and when new contracts are signed.   Although we can provide no assurance, based on significant funding levels for detention capacity that will be available under the One Big Beautiful Bill Act, modified immigration policies of the current administration, as well as newly enacted legislation pertaining to illegal immigrants requiring the utilization of detention for certain criminal violations, we expect new contracts to require the activation of more of our idle facilities.   The activation of an idle facility generally requires four to six months to hire, train, and prepare the facility to accept residential populations, which, depending on contract structure, could result in additional expenses before we are able to realize additional revenue. To the extent any new contract requires the activation of an idle facility before we begin to recognize revenue, our guidance could be negatively impacted by start-up expenses until the revenue we generate offsets these expenses. Due to activation timing, full year benefits from idle facility activations are likely to be more impactful to 2026 results.

During 2025, we expect to invest $29.0 million to $31.0 million in maintenance capital expenditures on real estate assets, $31.0 million to $34.0 million for maintenance capital expenditures on other assets and information technology, and $9.0 million to $10.0 million for other capital investments. Although our guidance does not include any new contract awards beyond those previously announced, we also expect to incur approximately $70.0 million to $75.0 million of capital expenditures associated with previously idled facilities we are activating and for additional potential facility activations, in order to prepare these facilities to quickly accept residential populations if opportunities arise, as well as to provide transportation services.     

Supplemental Financial Information and Investor Presentations

We have made available on our website supplemental financial information and other data for the second quarter of 2025. Interested parties may access this information at http://ir.corecivic.com/ under “Financial Information” of the Investors section.   We do not undertake any obligation and disclaim any duties to update any information disclosed in this report.  

Management may meet with investors from time to time during the third quarter of 2025. Written materials used in the investor presentations will also be available on our website beginning on or about August 29, 2025.   Interested parties may access this information through our website at http://ir.corecivic.com/ under “Events & Presentations” of the Investors section.

Conference Call, Webcast and Replay Information

We will host a webcast conference call at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, August 7, 2025, which will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page.
To participate via telephone and join the call live, please register in advance here https://register-conf.media-server.com/register/BI826b7187965c436ca353a3af4a956fed. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode.

About CoreCivic

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and one of the largest operators of such facilities in the United States. We have been a flexible and dependable partner for government for more than 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements as defined within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy, legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government as a consequence of presidential executive orders, and the impact of any changes to immigration reform and sentencing laws (we do not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) our ability to activate idle facilities in a timely manner in order to meet the expected growth in demand for our facilities and services from the federal government that may occur as a result of changes in policies and actions of the current presidential administration, and to realize projected returns resulting therefrom; (v) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (vi) fluctuations in our operating results because of, among other things, changes in occupancy levels; competition; contract renegotiations or terminations; inflation and other increases in costs of operations, including a rise in labor costs; fluctuations in interest rates and risks of operations; (vii) government budget uncertainty, the impact of the debt ceiling and the potential for government shutdowns and changing budget priorities; (viii) our ability to successfully identify and consummate future development and acquisition opportunities and realize projected returns resulting therefrom; and (ix) the availability of debt and equity financing on terms that are favorable to us, or at all. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

We take no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services, except as may be required by law.

View full release here.