RICHMOND, Va.–(BUSINESS WIRE)– Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier operators of location-based entertainment, announced today the progress of its nationwide rebrand initiative. Since the start of 2025, five Bowlero locations have successfully rebranded to Lucky Strike, marking the beginning of a company-wide transformation targeting 13 additional rebrands over the next two months. This evolution represents a heightened focus on guest hospitality, elevated food and beverage menus, and enhanced venue environments designed to create a more immersive and vibrant atmosphere for their guests.
The first phase of the rollout focused on rebranding Lucky Strike Houston, Lucky Strike Atlantic Station, Lucky Strike Mar Vista, Lucky Strike San Marcos, and Lucky Strike Chula Vista, strengthening its presence in major entertainment hubs across Texas, Georgia, and California. Each location has undergone a transformation, introducing a heightened standard of service, an upgraded craft menu, and a refreshed decor with curated playlists to enhance the ambiance of each space. These upgrades complement Lucky Strike’s signature mix of upscale bowling, immersive arcades, and dynamic social spaces, creating an all-encompassing entertainment experience.
With five locations successfully rebranded, Lucky Strike is proceeding into its next phase of rebrands in high-profile markets, including New York City’s Chelsea Piers and Times Square, as well as the Washington, D.C. metro area with Tysons Corner.
“As we continue expanding the Lucky Strike brand, we are committed to more than just entertainment—we are redefining the overall guest experience,” said Thomas Shannon, Founder, Chairman, and CEO of Lucky Strike Entertainment. “This transformation is about more than a name change. It’s about creating dynamic social destinations where exceptional service, thoughtfully crafted food and beverage menus, and a vibrant atmosphere come together to set a new industry standard. We are thrilled with the excitement exhibited by our customers around the introduction of Lucky Strike in these key markets and can’t wait to ramp up this initiative to introduce this special brand to more cities across the country.”
To celebrate these rebrands, Lucky Strike will host grand opening events at each location, offering guests a first look at the newly rebranded spaces. These events will feature specialty food and drink samplings, giveaways, and VIP experiences, designed to introduce local communities to Lucky Strike’s elevated entertainment concept.
About Lucky Strike Entertainment
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.
GROSSE POINTE FARMS, Mich., March 03, 2025 (GLOBE NEWSWIRE) — Saga Communications, Inc. (Nasdaq: SGA) announced today that it will release its 4th Quarter and Year End 2024 results at 9:00 a.m. EST on Tuesday, March 11, 2025. The company will be holding a conference call on the same date at 11:00 a.m. EST. The dial-in numbers are as follows:
Domestic and International Dial-in Number: (973) 528-0008 Conference Entry Code: 424193
In addition to the Company releasing its 4th Quarter and Year End earnings the Company will discuss:
The Company’s execution of its ongoing digital strategy.
The Company’s ongoing efforts to evaluate non-core asset sales and the use of such proceeds for buybacks, dividends and other corporate purposes.
The Company’s plans to refresh the board.
The Company’s continuing evaluation of market and corporate level expenses to be in line with the Company’s operating verticals.
The Company requests that all parties that have a question that they would like to submit to the Company to please email the inquiry by 10:00 a.m. EST on March 11, 2025, to SagaIR@sagacom.com. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing will be discussed during the call.
Saga’s earnings release will contain certain non-GAAP financial measures including station operating income, trailing 12-month consolidated EBITDA, and same station financial information. A reconciliation of all non-GAAP financial measures to the most directly comparable GAAP measures will be provided in the earnings release.
Saga is a media company whose business is devoted to acquiring, developing, and operating broadcast properties with a growing focus on opportunities complimentary to our core radio business including digital, e-commerce and non-traditional revenue initiatives. Saga owns or operates broadcast properties in 28 markets, including 82 FM and 31 AM radio stations and 79 metro signals. For additional information, contact us at (313) 886-7070 or visit our website at www.sagacom.com.
Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 406 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across more than 9,500 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Results in-line with expectations. The company reported Q4 revenue of $218.6 million, in line with our estimate of $219.0 million, and adj. EBITDA of $25.0 million, which was better than our estimate of $21.5 million. In our view, the quarter is illustrative of the company’s successful efforts to reduce costs and drive efficiencies, while managing the impact of macroeconomic headwinds and secular challenges on its businesses.
Continued weak revenue outlook. Management provided revenue pacings of a decline in the mid single digits for Q1 2025, slightly softer than our expectations. The company is being adversely affected by weak local and National spot advertising and headwinds from a loss of flagship podcast programming.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
LIMASSOL, Cyprus, Feb. 25, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (Nasdaq: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today issued a clarification in respect of its previously announced one-time, nonrecurring special cash dividend of $3.31 per share, payable on March 11, 2025, to the Company’s shareholders of record as of the close of business on March 3, 2025. According to Nasdaq, the ex-dividend date for Nasdaq trading will be March 12, 2025.
Nasdaq Rule 11140(b)(2) provides that if the value of a cash dividend is 25% or greater than the value of the subject security, the ex-dividend date will be the first business day following the payable date. According to Nasdaq, the value of the subject security is based upon the closing bid price as of the last trading date before the public announcement of the cash dividend. The closing bid price of GDEV shares as of February 20, 2025, the last trading date before the Company’s public announcement of the special dividend, was $12.82.
On March 12, 2025, the ex-dividend date, Nasdaq will reset the opening trading price of GDEV’s ordinary shares to reflect the payment of the special dividend. While an investor generally needs to own the shares on the payable date to be entitled to the special dividend, investors should consult with their financial advisors as to their entitlement to the special dividend. The trading price for GDEV’s ordinary shares on the ex-dividend date is expected to be lower than the closing price on March 11, 2025, the last trading date before the ex-dividend date, to reflect the amount of the special dividend. On and after the ex-dividend date, purchasers of GDEV’s ordinary shares will have no right to receive the special dividend with respect to those newly purchased ordinary shares.
About GDEV Inc. GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc.
Contacts:
Investor Relations Roman Safiyulin | Chief Corporate Development Officer investor@gdev.inc
Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and 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 may be required under applicable securities laws.
NEW YORK, Feb. 25, 2025 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):
Revenue of $20.7 million, down 2% year-over-year
Consolidated operating profit of $4.9 million, up 8% year-over-year
Non-GAAP consolidated operating profit of $5.3 million
Cash flow from operations of $7.7 million
Earnings per share (EPS) of $0.26
Travelzoo, the club for travel enthusiasts, today announced financial results for the fourth quarter ended December 31, 2024. Consolidated revenue was $20.7 million, down 2% year-over-year. In constant currencies, revenue was $20.6 million. Travelzoo’s reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members, and membership fees.
Net income attributable to Travelzoo was $3.2 million for Q4 2024, or $0.26 per share, compared with $0.27 in the prior-year period. Net income attributable to Travelzoo from continuing operations was $3.2 million for Q4 2024, or $0.26 per share, compared with $0.24 in the prior-year period.
Non-GAAP operating profit was $5.3 million. Non-GAAP operating profit excludes amortization of intangibles ($93,000), stock option expenses ($0.4 million). Please refer to “Non-GAAP Financial Measures” and the tabular reconciliation below.
“We will continue to leverage Travelzoo’s global reach, trusted brand, and strong relationships with top travel suppliers to negotiate more Club Offers for Club Members,” said Holger Bartel, Travelzoo’s Global CEO. “Travelzoo members are affluent, active, and open to new experiences. We inspire travel enthusiasts to travel to places they never imagined they could. Travelzoo is the must-have membership for those who love to travel as much as we do.”
Cash Position As of December 31, 2024, consolidated cash, cash equivalents and restricted cash were $17.7 million. Net cash provided by operations was $7.7 million.
Travelzoo North America North America business segment revenue increased 1% year-over-year to $13.9 million. Operating profit for Q4 2024 was $4.6 million, or 33% of revenue, compared to operating profit of $4.0 million in the prior-year period.
Travelzoo Europe Europe business segment revenue decreased 13% year-over-year to $5.4 million, caused primarily by fluctuations in Germany. In constant currencies, Europe business segment revenue was $5.3 million. Operating profit for Q4 2024 was $159,000, or 3% of revenue, compared to operating profit of $832,000 in the prior-year period.
Jack’s Flight Club Jack’s Flight Club is a membership subscription service in which Travelzoo has a 60% ownership interest. As the number of premium subscribers continues to grow, revenue increased 19% year-over-year to $1.3 million. Jack’s Flight Club’s revenue from subscriptions is recognized ratably over the subscription period (quarterly, semi-annually, annually). Non-GAAP operating profit for Q4 2024 was $208,000. Non-GAAP operating profit excludes amortization of intangibles ($58,000) related to the acquisition of Travelzoo’s ownership interest in Jack’s Flight Club in 2020.
New Initiatives New Initiatives business segment revenue, which includes Licensing and Travelzoo META, was $19,000. Operating loss for Q4 2024 was $36,000.
In June 2020, Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in Japan for the exclusive use of Travelzoo’s brand, business model, and members in Japan. In August of 2020, Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in Australia for the exclusive use of Travelzoo’s brand, business models, and members in Australia, New Zealand, and Singapore. Under these arrangements, Travelzoo’s existing members in Australia, Japan, New Zealand, and Singapore will continue to be owned by Travelzoo as the licensor. Travelzoo recorded $7,000 in licensing revenue from the licensee in Japan in Q4 2024. Travelzoo recorded $12,000 in licensing revenue from the licensee in Australia, New Zealand, and Singapore in Q4 2024. Licensing revenue is expected to increase in the future.
Reach Travelzoo reaches 30 million travelers. This includes Jack’s Flight Club. Comparisons to prior periods are no longer meaningful due to strategic developments of the Travelzoo membership.
Discontinued Operations In March 2020, Travelzoo decided to exit its Asia Pacific business and operate it as a licensing business going forward. Consequently, the Asia Pacific business has been classified as discontinued operations.
Income Taxes A provision of $1.5 million for income taxes was recorded for Q4 2024, compared to an income tax expense of $1.6 million in the prior-year period. Travelzoo intends to utilize available net operating losses (NOLs) to largely offset its actual tax liability for 2024.
Share Repurchase Program During Q4 2024, the Company repurchased 135,792 shares of its outstanding common stock.
Looking Ahead For Q1 2025, we expect revenue to increase at a higher pace. The pro rata portion of membership fee revenue will already add 5% incremental growth this quarter. This percentage is expected to increase over subsequent quarters, as membership fee revenue is recognized ratably over the subscription period, we acquire new members, and more Legacy Members become Club Members. For the whole year, we expect substantially higher revenue growth. Over time, we expect profitability to further increase as recurring membership fee revenue will be recognized.
In 2024, we introduced a membership fee for Travelzoo. Legacy Members, who joined before 2024, were exempt from the fee during 2024. Legacy Members represent more than 95% of Travelzoo’s reach. In 2025, Legacy Members continue to receive certain travel offers. But Club Offers and new benefits are only available to Club Members. We generally see Legacy Members being excited to become Club Members.
Non-GAAP Financial Measures Management calculates non-GAAP operating income when evaluating the financial performance of the business. Travelzoo’s calculation of non-GAAP operating income, also called “non-GAAP operating profit” in this press release and today’s earnings conference call, excludes the following items: amortization of intangibles, stock option expenses and severance-related expenses. This press release includes a table which reconciles GAAP operating income to the calculation of non-GAAP operating income. Non-GAAP operating income is not required by, or presented in accordance with, generally accepted accounting principles in the United States of America (“GAAP”). This information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.
Conference Call Travelzoo will host a conference call to discuss fourth quarter 2024 results today at 11:00 a.m. ET. Please visit http://ir.travelzoo.com/events-presentations to
download the management presentation (PDF format) to be discussed in the conference call
access the webcast
About Travelzoo We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with thousands of top travel suppliers—our long-standing relationships give us access to irresistible deals.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New credit agreement. On February 19, 2025, the company entered into a five year $490 million credit agreement with Bank of America. The agreement is comprised of a $470 million term loan and a $20 million revolving credit facility, both of which mature on February 19, 2030. Notably, we believe the favorable agreement provides the company with a long runway and should assuage investor debt refinancing concerns.
Termination of old agreement. The company utilized net proceeds from the new credit agreement and its cash position to immediately retire its prior credit agreement. As such, $453 million from the term loan and roughly $10 million from the revolving credit facility were used to retire the outstanding $467.4 million 6.875% senior secured notes that were due in 2026.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Special dividend. On Friday, February 21, the company announced that its board of directors approved a nonrecurring special cash dividend of $3.31 per share. The sizeable cash dividend, payable on March 11 to shareholders of record on March 3, represented a yield of roughly 20% at the time of announcement. Furthermore, the cash dividend totals roughly $60 million and will be funded entirely through the company’s healthy cash position.
Delivering value. In our view, the special cash dividend is illustrative of the Board of Directors’ confidence in the company’s long-term outlook, strong financial position, and commitment to deliver value to shareholders. Notably, we believe the company will be able to pay out the sizeable dividend without compromising its strategic growth initiatives in player retention and quality of gameplay.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
LIMASSOL, Cyprus, Feb. 21, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (Nasdaq: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced that its Board of Directors has authorized and approved a one-time, nonrecurring special cash dividend of $3.31 per share, representing a yield of approximately 20% based on the volume-weighted average price of the Company’s shares for the last 30 trading days prior to today’s announcement. The special dividend is payable on March 11, 2025, to the Company’s shareholders of record as of the close of business on March 3, 2025.
This one-time special dividend, totaling approximately $60 million, will be funded from GDEV’s accumulated profits over the past few years and represents a portion of the Company’s total cash balance of approximately $153 million1 (as of Q3 2024). The Company expects to release its audited results for the 2024 financial year around the end of the first quarter of 2025.
By distributing a portion of its retained earnings, GDEV better optimizes its capital structure, reducing excess liquidity and providing for a more lean and efficient operating model. This decision reflects the Company’s commitment to disciplined capital allocation and long-term value creation. The Board’s confidence in GDEV’s financial strength underscores its proactive approach to maintaining an optimal balance between stability and growth in the volatile environment. Importantly, this special dividend is a one-time distribution and does not establish a recurring dividend program. It is not anticipated that the GDEV’s Board of Directors will declare any further dividends in the foreseeable future.
GDEV Founder, CEO, and Chairman of the Board of Directors, Andrey Fadeev, stated: “The special dividend is the first in the Company’s history since our public listing. The decision to declare a special dividend underscores our commitment to delivering value to our shareholders while maintaining a strong financial position. Our robust balance sheet enables us to return capital to shareholders without compromising our ability to invest in the Company’s long-term growth. Following this distribution, GDEV will remain debt-free with a substantial cash balance providing financial stability and the continued development of both our existing portfolio and future initiatives.”
About GDEV Inc. GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit www.gdev.inc.
Contacts:
Investor Relations Roman Safiyulin | Chief Corporate Development Officer investor@gdev.inc
Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and 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 may be required under applicable securities laws.
_______________________ 1 Including the investments into high quality liquid securities.
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile application. Codere currently operates in its core markets of Spain, Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). Codere Online’s online business is complemented by Codere Group’s physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence in the region.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Currency exchange impact. Q4 revenue of €52.6 million was roughly in line with our estimate of €55.0 million in spite of currency headwinds. Adj. EBITDA of €1.9 million was better than our estimate of €1.5 million, as illustrated in Figure #1 Q4 Results. Revenues would have been stronger if not for the depreciation of the Mexican Peso, down roughly 13.5% against the Euro. On a constant currency basis, revenue was up a strong 15% compared to reported growth of 5%.
NASDAQ extends deadline. The company’s auditor, Marcum, resigned unexpectedly in December, quickly replaced by MaloneBailey. Importantly, the company was able to present a plan to NASDAQ in its hearing on January 16 and was granted an extension until May 12 to file its 2023 annual report, the maximum extension allowed. The company intends to file within the extension deadline.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Total revenue was €50.0 mm in Q4 2024, while net gaming revenue1 was €52.6 mm in the period, 5% above Q4 2023.
Net income excluding the non-cash variation in fair value of public warrants2 was €6.8 mm in 2024 versus a net loss of €4.0 mm in 2023.
Total cash position of €40.5 mm as of December 31, 2024.
Providing full year 2025 net gaming revenue outlook of €220-230 mm and Adj. EBITDA3 outlook of €10-15 mm.
The Company’s Board of Directors has authorized a share buyback plan of up to $5.0 mm, subject to shareholder approval.
Madrid, Spain and Tel Aviv, Israel, February 20, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, has released its preliminary unaudited4 financial results for the quarter and year ended December 31, 2024.
Below are the main financial and operating metrics of the period.
Aviv Sher, CEO of Codere Online, stated, “We delivered another solid quarter, with net gaming revenue reaching €52.6 million, a 5% increase compared to the fourth quarter of 2023. In Mexico, net gaming revenue was flat at €25.1 million, driven by the significant devaluation of the Mexican peso. On a constant currency basis, our growth in Mexico would have been 14%. Meanwhile, Spain continued to perform well, with net gaming revenue rising 10% to €22.8 million.”
Oscar Iglesias, CFO of Codere Online, commented, “Our strong fourth-quarter performance brought our full-year net gaming revenue to nearly €212 million, 10% above the midpoint of our initial €185-200 million outlook from early 2024. More importantly, we delivered a fourth consecutive quarter of positive Adjusted EBITDA, allowing us to reach €6.4 million for the full year, at the higher end of our outlook of €2.5-7.5 million.”
Mr. Iglesias added, “We are very encouraged by our 2024 results and our ability to meet our commitment to investors despite the headwinds faced, mostly on the currency front. For 2025, we anticipate net gaming revenue of €220-230 million and Adj. EBITDA of €10-15 million. Also, we are pleased to announce an up to $5.0 million share buyback plan, subject to shareholder approval, which reflects our confidence in the business and future cash flow generation.”
Recent Events
Listing Extension from Nasdaq
Following a hearing on January 16, 2025, at which the Company presented its plan to regain compliance, the Nasdaq Hearings Panel granted the Company’s request to continue its listing on Nasdaq on February 12, 2025;
The extension is subject to the Company filing its 2023 annual report on or before May 12, 2025;
The Company continues to work diligently to complete and file its 2023 annual report as soon as possible and expects to do so within the extension period it has been granted.
Implementation of a Share Buyback Plan
The Board of Directors of the Company has authorized (subject to obtaining shareholder approval) the repurchase of up to $5.0 million of the Company’s ordinary shares over a one-year period;
A general meeting of shareholders will be convened today and held on March 3, 2025 to approve the plan and the conditions under which it may be executed;
The share buyback plan does not require the Company to acquire any specific number of shares and may be terminated at any time. Repurchases of shares pursuant to the share buyback plan will be conducted in accordance with applicable law, including U.S. securities laws.
New Tax in Colombia
On February 14, 2025, Colombia’s Ministry of Finance introduced, through executive decree, a value added (i.e. indirect) tax of 19% on all online deposits;
The tax will be effective on February 21, 2025, and will remain in effect through December 31, 2025, though we expect legal challenges from the industry with respect to its constitutionality;
The Company is currently assessing how it will respond from a legal and operating perspective to this tax and potential impacts on its business in Colombia.
Conference Call Information
Codere Online’s management will host a conference call to discuss the results and provide a business update at 8:30 am US Eastern Time today, February 20, 2025. Dial-in details as well as the audio webcast and presentation will be accessible on Codere Online’s website at www.codereonline.com. A recording of the webcast will also be available following the conference call.
About Codere Online
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online, launched in 2014 as part of the renowned casino operator Codere Group, offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere Online currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina; this online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
About Codere Group Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).
Note on Rounding. Due to decimal rounding, numbers presented throughout this report may not add up precisely to the totals and subtotals provided, and percentages may not precisely reflect the absolute figures.
Forward-Looking Statements Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans as well as he Company’s expectations about the timing of completion and filing of the Form 20-F for the year ended December 31, 2023 (the “2023 Annual Report”), and statements related to the Company’s plan, timing and actions taken to regain compliance with the Listing Rule 5250(c)(1).
These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, (xii) the risk that Codere Online’s securities may be delisted from Nasdaq and (xiii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Financial Information and Non-GAAP Financial Measures Codere Online’s financial statements are prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”), which can differ in certain significant respects from generally accepted accounting principles in the United States of America (“U.S. GAAP”).
This document includes certain financial measures not presented in accordance with U.S. GAAP or IFRS (“non-GAAP”), such as, without limitation, net gaming revenue, Adjusted EBITDA and constant currency information. These non-GAAP financial measures are not measures of financial performance in accordance with U.S. GAAP or IFRS and may exclude items that are significant in understanding and assessing Codere Online’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under U.S. GAAP or IFRS. You should be aware that Codere Online’s presentation of these measures may not be comparable to similarly-titled measures used by other companies. In addition, the audit of Codere Online’s financial statements in accordance with PCAOB standards, may impact how Codere Online currently calculates its non-GAAP financial measures, and we cannot assure you that there would not be differences, and such differences could be material.
Codere Online believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in comparing Codere Online’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Reconciliations of non-GAAP financial measures to their most directly comparable measure under IFRS are included herein.
This document may include certain projections of non-GAAP financial measures. Codere Online is unable to quantify certain amounts that would be required to be included in the most directly comparable U.S. GAAP or IFRS financial measures without unreasonable effort, due to the inherent difficulty and variability of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such comparable measures or such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted, ascertained or assessed, which could have a material impact on its future IFRS financial results. Consequently, no disclosure of estimated comparable U.S. GAAP or IFRS measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included.
Use of Projections This document contains financial forecasts with respect to Codere Online’s business and projected financial results, including net gaming revenue and adjusted EBITDA. Codere Online’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this document, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this document. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Codere Online or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this document should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.
For further information on the limitations and assumptions underlying these projections, please refer to Codere Online’s filings with the SEC.
Preliminary Information This document contains figures, financial metrics, statistics and other information that is preliminary and subject to change (the “Preliminary Information”). The Preliminary Information has not been audited, reviewed, or compiled by any independent registered public accounting firm. This Preliminary Information is subject to ongoing review including, where applicable, by Codere Online’s independent auditors. Accordingly, no independent registered public accounting firm has expressed an opinion or any other form of assurance with respect to the Preliminary Information. During the course of finalizing such Preliminary Information, adjustments to such Preliminary Information presented herein may be identified, which may be material. Codere Online undertakes no obligation to update or revise the Preliminary Information set forth in this document as a result of new information, future events or otherwise, except as otherwise required by law. The Preliminary Information may differ from actual results. Therefore, you should not place undue reliance upon this Preliminary Information. The Preliminary Information is not a comprehensive statement of financial results, and should not be viewed as a substitute for full financial statements prepared in accordance with IFRS. In addition, the Preliminary Information is not necessarily indicative of the results to be achieved in any future period.
No Offer or Solicitation This document does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Industry and Market Data In this document, Codere Online relies on and refers to certain information and statistics obtained from publicly available information and third-party sources, which it believes to be reliable. Codere Online has not independently verified the accuracy or completeness of any such publicly-available and third-party information, does not make any representation as to the accuracy or completeness of such data and does not undertake any obligation to update such data after the date of this document. You are cautioned not to give undue weight to such industry and market data.
Contacts:
Investors and Media Guillermo Lancha Director, Investor Relations and Communications Guillermo.Lancha@codere.com (+34) 628.928.152
1 Net Gaming Revenue is a non-IFRS measure; please see reconciliation of Net Gaming Revenue to Revenue at the end of the report.
2 Net income excluding the non-cash variation in fair value of public warrants is a non-IFRS measure and reflects a net income of €3.7 mm (€3.1 mm net loss in 2023) excluding a €3.1 mm loss (€0.9 mm gain in 2023) from the variation in fair value of public warrants. Figures presented for illustrative purposes and do not include any potential impacts on the provision for corporate income taxes.
3 Adjusted EBITDA is a non-IFRS measure; please see reconciliation of Adjusted EBITDA to Net Income at the end of the report. Net gaming revenue and Adjusted EBITDA outlooks are forward-looking non-IFRS measures; please see important disclaimers at the end of the report.
4 See “Preliminary Information” below.
5 Average Monthly Active Players include real money (i.e. exclude free bets) sports betting and casino actives.
6 Figures primarily reflect differences in recognition of revenue related to certain partner and affiliate agreements in place in Colombia, VAT impact from entry fees in Mexico and the impact from the application of inflation accounting (IAS 29) in Argentina.
7 Please refer to page 26 of our Q4 2024 Earnings Presentation for further details regarding this reconciliation.
NEW YORK, Feb. 18, 2025 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):
WHAT:
Travelzoo, the club for travel enthusiasts, will host a conference call to discuss the Company’s financial results for the fourth quarter ended December 31, 2024. Travelzoo will issue a press release reporting its results before the market opens on February 25, 2025.
WHEN:
February 25, 2025 at 11:00 AM ET
HOW:
A live webcast of Travelzoo’s Q4 2024 earnings conference call can be accessed athttp://ir.travelzoo.com/events-presentations. The webcast will be archived within 2 hours of the end of the call and will be available through the same link.
CONTACT:
Travelzoo Investor Relations
ir@travelzoo.com
About Travelzoo We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with thousands of top travel suppliers—our long-standing relationships give us access to irresistible deals.
Luxembourg, Grand Duchy of Luxembourg, February 13, 2025 (GLOBE NEWSWIRE) – Codere Online Luxembourg, S.A. (Nasdaq: CDRO / CDROW) (the “Company” or “Codere Online”), a leading online gaming operator in Spain and Latin America, today announced that, by letter received on February 12, 2025, the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) has determined to grant the Company’s request to continue its listing on Nasdaq, subject to the Company filing its annual report on Form 20-F for the year ended December 31, 2023 (the “2023 Annual Report”) on or before May 12, 2025.
The Panel’s determination follows a hearing on January 16, 2025, at which the Panel considered the Company’s plan to regain compliance with Listing Rule 5250(c)(1) (the “Rule”). The Company has and continues to work diligently with its new auditor to complete and file with the Securities and Exchange Commission (“SEC”) its 2023 Annual Report and expects to do so within the extension period granted by the Panel, thereby regaining compliance with the Rule.
Following this positive development, the Company will release its fourth quarter 2024 results prior to 8:30AM US Eastern Time on Thursday, February 20, 2025. At 8:30AM US Eastern Time on the same day, Codere Online’s management will host a conference call to discuss the results and provide a business update.
The Company’s earnings press release and presentation will be available on Codere Online’s website at www.codereonline.com. Dial-in details for the conference call as well as the audio webcast registration link are accessible on the Events & Presentations section of the website. A recording of the webcast will be available following the conference call.
About Codere Online
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online, launched in 2014 as part of the renowned casino operator Codere Group, offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere Online currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina; this online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including the Company’s expectations about the timing of completion and filing of the 2023 Annual Report, statements related to the Company’s plan, timing and actions taken to regain compliance with the Rule.
These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s or its management team’s views as of any subsequent date, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the SEC. All subsequent written and oral forward-looking statements concerning Codere Online or other matters attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Contacts:
Investors and Media Guillermo Lancha Director, Investor Relations and Communications Guillermo.Lancha@codereonline.com (+34) 628.928.152
LIMASSOL, Cyprus, Feb. 13, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced the appointment of Andrey Fadeev, GDEV’s founder and CEO and a member of the Company’s Board of Directors (the “Board”), as Chairperson of the Board, effective immediately. This appointment represents a strategic evolution in the Company’s leadership structure, designed to strengthen the alignment between strategic oversight and operational execution. As part of this planned transition, Natasha Braginsky Mounier, an independent non-executive director and chairperson of the Board will step down from her position as Independent Chairperson and depart from the Board. Ms. Braginsky Mounier will receive a severance payment from the Company, compensating her for her services as Chairperson and director of the Board for the term beginning with the last annual general meeting of the Company’s shareholders.
The Board will maintain its independent majority, with three out of five directors continuing to serve as independent members, continuing to adhere to best practices for corporate governance and oversight of the Company’s operations. Ms. Braginsky Mounier’s membership positions on the GDEV Board’s Committees will, by resolution of the Board, be reassigned among its current independent members: Tal Shoham, who is able to read and understand fundamental financial statements in accordance with Nasdaq audit committee requirements, will take her place on the Audit Committee, while Marie Holive will join the Nomination and Compensation Committee.
“This is an exciting new chapter for GDEV as we continue to execute on our strategic vision and drive growth across our portfolio of studios,” said Andrey Fadeev, CEO, founder and newly appointed Chairperson of GDEV. “By aligning Board leadership more closely with our operational expertise, we are well-positioned to accelerate decision-making and capitalize on market opportunities while maintaining the highest standards of corporate governance.”
Mr. Fadeev continued: “On behalf of the Board of Directors and management team of GDEV, I would like to express our deep appreciation to Ms. Braginsky Mounier for her exemplary leadership and invaluable contributions during her tenure as Independent Chairperson. Under her guidance, GDEV has significantly strengthened its corporate governance framework, enhanced board effectiveness, and established robust oversight practices that will continue to benefit the Company for years to come. Ms. Braginsky Mounier’s dedication to promoting transparency and accountability has helped create a strong foundation for GDEV’s next phase of growth.”
The Company remains committed to maintaining open and transparent communication with its stakeholders, as the Board continues to prioritize long-term, sustainable growth while upholding the highest standards of corporate governance and oversight.
About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 bln of bookings worldwide. For more information, please visit www.gdev.inc
Contacts: Investor Relations Roman Safiyulin | Chief Corporate Development Officer investor@gdev.inc
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and 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 may be required under applicable securities laws.
