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Envistudios Introduces AI-Powered Solutions for Business Excellence 11-21-2024 10:21 PM CET | IT, New Media & Software Press release from: Envistudios Envistudios, a leading company in the provision of AI solutions for business, is proud to announce its latest recognition for the delivery of AI-powered solutions that transform business operations. This attainment only further reiterates our commitment to offering innovative technologies through which processes are streamlined, enhancing operational efficiency. With this recognition, Envistudios resolidifies its commitment to empowering organizations to unleash the true power of AI. Because of our AI-enabled solutions, customers can reap a variety of rewards, from better decision-making to high productivity and optimized workflows. We foresee a future in which AI will be an integral part of regular business operations, fostering growth and competitive advantage. Our range of AI solutions cuts across several industries, one recent example being the improvement of a client's operational efficiency by 25% in just three months-an actual, real-life demonstration of our technology at work. Vinita Rahti, CEO of Envistudios, said, "We are proud to receive this validation, further strengthening our belief in the value that AI-powered solutions bring to businesses. At Envistudios, we remain committed to leading the way for businesses to be relevant and thrive in a fast-evolving digital world." Envistudios continues to weave its innovative magic by providing AI-driven services that amplify and accelerate businesses toward success. About Envistudios Envistudios is an AI solutions provider that enables businesses to enhance efficiency and productivity with innovative technology. We empower organizations with the latest AI to achieve business excellence. Company Name: Envistudios Address: 2nd Floor College House, 17 King Edwards Road, Ruislip, London, United Kingdom, HA4 7AE Email: support@envistudios.com Phone number: +44 1253 547777 Envistudios empowers businesses with cutting-edge AI solutions. Our products, Infomente and Documente, harness NLP and ML to optimize operations, extract insights, and drive growth. This release was published on openPR.SAN FRANCISCO--(BUSINESS WIRE)--Dec 9, 2024-- Planet Labs PBC (NYSE: PL) (“Planet” or the “Company”), a leading provider of daily data and insights about Earth, today announced financial results for the period ended October 31, 2024. "We are pleased with the multiple large contracts secured with government customers globally this quarter, which we expect to ramp up into the year ahead. The third quarter represented Planet’s largest ever quarter of ACV bookings, helping lay the foundation for future growth," said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson. "We continue to see strong demand for our data, particularly where enhanced with AI-enabled solutions. We also saw first light from our Tanager satellite, released the first set of over 300 CO2 and methane detections, and are progressing towards commercializing its hyperspectral data. The success of this program has led us to actively pursue other opportunities that similarly advance our technology roadmap while enhancing our financial position. Ultimately, we believe Planet is well positioned for growth going forward." Ashley Johnson, Planet’s President and Chief Financial Officer, added, “We saw significant improvement in the fundamentals of the business during the quarter, as evident in the year-over-year and sequential improvement in margins, as well as the continued progress on our path to profitability. I’m pleased to confirm that we’re on track to achieve our target of Adjusted EBITDA profitability next quarter. Meanwhile, we’re reducing our cash burn and our balance sheet remains strong with approximately $242 million of cash, cash equivalents, and short-term investments as of the end of the quarter, and we continue to have no debt.” Third Quarter of Fiscal 2025 Financial and Key Metric Highlights: Recent Business Highlights: Growing Customer and Partner Relationships New Technologies and Products Impact and ESG Fourth Quarter Financial Outlook For the fourth quarter of fiscal year 2025, ending January 31, 2025, Planet expects revenue to be in the range of approximately $61 million to $63 million. Non-GAAP Gross Margin is expected to be in the range of approximately 63% to 65%. Adjusted EBITDA is expected to be in the range of approximately $0 to $2 million for the quarter. Capital Expenditures are expected to be in the range of approximately $8 million and $11 million for the quarter. Planet has not reconciled its Non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses and depreciation and amortization are uncertain or out of Planet’s control and cannot be reasonably predicted. The actual amount of these expenses during the fourth quarter of fiscal year 2025 will have a significant impact on Planet’s future GAAP financial results. Accordingly, a reconciliation of Planet’s Non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts. The foregoing forward-looking statements reflect Planet’s expectations as of today’s date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Webcast and Conference Call Information Planet will host a conference call at 5:00 p.m. ET / 2:00 p.m. PT today, December 9, 2024. The webcast can be accessed at www.planet.com/investors/ . A replay will be available approximately 2 hours following the event. If you would prefer to register for the conference call, please go to the following link: https://www.netroadshow.com/events/login?show=00196caf&confId=74075 . You will then receive your access details via email. Additionally, a supplemental presentation has been provided on Planet’s investor relations page. About Planet Labs PBC Planet is a leading provider of global, daily satellite imagery and geospatial solutions. Planet is driven by a mission to image the world every day, and make change visible, accessible and actionable. Founded in 2010 by three NASA scientists, Planet designs, builds, and operates the largest Earth observation fleet of imaging satellites. Planet provides mission-critical data, advanced insights, and software solutions to over 1,000 customers, comprising the world’s leading agriculture, forestry, intelligence, education and finance companies and government agencies, enabling users to simply and effectively derive unique value from satellite imagery. Planet is a public benefit corporation listed on the New York Stock Exchange as PL. To learn more visit www.planet.com and follow us on X (formerly Twitter) or tune in to HBO’s ‘Wild Wild Space’. Channels for Disclosure of Information Planet intends to announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investors.planet.com) and its blog (planet.com/pulse) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD. It is possible that the information Planet posts on its blog could be deemed to be material information. As such, Planet encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels. Planet’s Use of Non-GAAP Financial Measures This press release includes Non-GAAP Gross Profit, Non-GAAP Gross Margin, certain Non-GAAP Expenses described further below, Non-GAAP Loss from Operations, Non-GAAP Net Loss, Non-GAAP Net Loss per Diluted Share, Adjusted EBITDA and Backlog, which are non-GAAP measures the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company includes these non-GAAP financial measures because they are used by management to evaluate the Company’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP Gross Profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets classified as cost of revenue, restructuring costs, and employee transaction bonuses in connection with the Sinergise business combination. The Company defines Non-GAAP Gross Margin as Non-GAAP Gross Profit divided by revenue. Non-GAAP Expenses: The Company defines and calculates Non-GAAP cost of revenue, Non-GAAP research and development expenses, Non-GAAP sales and marketing expenses, and Non-GAAP general and administrative expenses as, in each case, the corresponding U.S. GAAP financial measure (cost of revenue, research and development expenses, sales and marketing expenses, and general and administrative expenses) adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employee transaction bonuses in connection with the Sinergise business combination, that are classified within each of the corresponding U.S. GAAP financial measures. Non-GAAP Loss from Operations: The Company defines and calculates Non-GAAP Loss from Operations as loss from operations adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employee transaction bonuses in connection with the Sinergise business combination. Non-GAAP Net Loss and Non-GAAP Net Loss per Diluted Share: The Company defines and calculates Non-GAAP Net Loss as net loss adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employee transaction bonuses in connection with the Sinergise business combination, and the income tax effects of the non-GAAP adjustments. The Company defines and calculates Non-GAAP Net Loss per Diluted Share as Non-GAAP Net Loss divided by diluted weighted-average common shares outstanding. Adjusted EBITDA: The Company defines and calculates Adjusted EBITDA as net income (loss) before the impact of interest income and expense, income tax expense and depreciation and amortization, and further adjusted for the following items: stock-based compensation, change in fair value of warrant liabilities, non-operating income and expenses such as foreign currency exchange gain or loss, restructuring costs, certain litigation expenses, and employee transaction bonuses in connection with the Sinergise business combination. The Company presents Non-GAAP Gross Profit, Non-GAAP Gross Margin, certain Non-GAAP Expenses described above, Non-GAAP Loss from Operations, Non-GAAP Net Loss, Non-GAAP Net Loss per Diluted Share and Adjusted EBITDA because the Company believes these measures are frequently used by analysts, investors and other interested parties to evaluate companies in Planet’s industry and facilitates comparisons on a consistent basis across reporting periods. Further, the Company believes these measures are helpful in highlighting trends in its operating results because they exclude items that are not indicative of the Company’s core operating performance. Backlog: The Company defines and calculates Backlog as remaining performance obligations plus the cancellable portion of the contract value for contracts that provide the customer with a right to terminate for convenience without incurring a substantive termination penalty and written orders where funding has not been appropriated. Backlog does not include unexercised contract options. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, which includes both deferred revenue and non-cancelable contracted revenue that will be invoiced and recognized in revenue in future periods. Remaining performance obligations do not include contracts which provide the customer with a right to terminate for convenience without incurring a substantive termination penalty, written orders where funding has not been appropriated and unexercised contract options. An increasing and meaningful portion of the Company’s revenue is generated from contracts with the U.S. government and other government customers. Cancellation provisions, such as termination for convenience clauses, are common in contracts with the U.S. government and certain other government customers. The Company presents Backlog because the portion of its customer contracts with such cancellation provisions represents a meaningful amount of the Company’s expected future revenues. Management uses backlog to more effectively forecast the Company’s future business and results, which supports decisions around capital allocation. It also helps the Company identify future growth or operating trends that may not otherwise be apparent. The Company also believes Backlog is useful for investors in forecasting the Company’s future results and understanding the growth of its business. Customer cancellation provisions relating to termination for convenience clauses and funding appropriation requirements are outside of the Company’s control, and as a result, the Company may fail to realize the full value of such contracts. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similarly-titled measures presented by other companies, which may have different definitions from the Company’s. Further, certain of the non-GAAP financial measures presented exclude stock-based compensation expenses, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for the Company and an important part of its compensation strategy. Other Key Metrics ACV and EoP ACV Book of Business: In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates Annual Contract Value (“ACV”) for contracts of one year or greater as the total amount of value that a customer has contracted to pay for the most recent 12 month period for the contract, excluding customers that are exclusively Sentinel Hub self-service paying users. For short-term contracts (contracts less than 12 months), ACV is equal to total contract value. The Company also calculates EoP ACV Book of Business in connection with the calculation of several of the key operational and business metrics we utilize. The Company defines EoP ACV Book of Business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Sentinel Hub self-service paying users. Active contracts exclude any contract that has been canceled, expired prior to the last day of the period without renewing, or for any other reason is not expected to generate revenue in the subsequent period. For contracts ending on the last day of the period, the ACV is either updated to reflect the ACV of the renewed contract or, if the contract has not yet renewed or extended, the ACV is excluded from the EoP ACV Book of Business. The Company does not annualize short-term contracts in calculating its EoP ACV Book of Business. The Company calculates the ACV of usage-based contracts based on the committed contracted revenue or the revenue achieved on the usage-based contract in the prior 12-month period. Percent of Recurring ACV: Percent of Recurring ACV is the portion of the total EoP ACV Book of Business that is recurring in nature. The Company defines EoP ACV Book of Business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Sentinel Hub self-service paying users. The Company defines Percent of Recurring ACV as the dollar value of all data subscription contracts and the committed portion of usage-based contracts (excluding customers that are exclusively Sentinel Hub self-service paying users) divided by the total dollar value of all contracts in our EoP ACV Book of Business. The Company believes Percent of Recurring ACV is useful to investors to better understand how much of the Company’s revenue is from customers that have the potential to renew their contracts over multiple years rather than being one-time in nature. The Company tracks Percent of Recurring ACV to inform estimates for the future revenue growth potential of our business and improve the predictability of our financial results. There are no significant estimates underlying management’s calculation of Percent of Recurring ACV, but management applies judgment as to which customers have an active contract at a period end for the purpose of determining EoP ACV Book of Business, which is used as part of the calculation of Percent of Recurring ACV. EoP Customer Count: The Company defines EoP Customer Count as the total count of all existing customers at the end of the period excluding customers that are exclusively Sentinel Hub self-service paying users. For EoP Customer Count, the Company defines existing customers as customers with an active contract with the Company at the end of the reported period. For the purpose of this metric, the Company defines a customer as a distinct entity that uses the Company’s data or services. The Company sells directly to customers, as well as indirectly through its partner network. If a partner does not provide the end customer’s name, then the partner is reported as the customer. Each customer, regardless of the number of active opportunities with the Company, is counted only once. For example, if a customer utilizes multiple products of Planet, the Company only counts that customer once for purposes of EoP Customer Count. A customer with multiple divisions, segments, or subsidiaries are also counted as a single unique customer based on the parent organization or parent account. For EoP Customer Count, the Company does not include users that only utilize the Company’s self-service Sentinel Hub web based ordering system, which the Company acquired in August 2023, and which offers standard starter packages on a monthly or annual basis. The Company believes excluding these users from EoP Customer Count creates a more useful metric, as the Company views the Sentinel Hub starter packages as entry points for smaller accounts, leading to broader awareness of the Company’s solutions throughout their networks and organizations. The Company believes EoP Customer Count is a useful metric for investors and management to track as it is an important indicator of the broader adoption of the Company’s platform and is a measure of the Company’s success in growing its market presence and penetration. Management applies judgment as to which customers are deemed to have an active contract in a period, as well as whether a customer is a distinct entity that uses the Company’s data or services. Capital Expenditures as a Percentage of Revenue: The Company defines capital expenditures as purchases of property and equipment plus capitalized internally developed software development costs, which are included in our statements of cash flows from investing activities. The Company defines Capital Expenditures as a Percentage of Revenue as the total amount of capital expenditures divided by total revenue in the reported period. Capital Expenditures as a Percentage of Revenue is a performance measure that we use to evaluate the appropriate level of capital expenditures needed to support demand for the Company’s data services and related revenue, and to provide a comparable view of the Company’s performance relative to other earth observation companies, which may invest significantly greater amounts in their satellites to deliver their data to customers. The Company uses an agile space systems strategy, which means we invest in a larger number of significantly lower cost satellites and software infrastructure to automate the management of the satellites and to deliver the Company’s data to clients. As a result of the Company’s strategy and business model, the Company’s capital expenditures may be more similar to software companies with large data center infrastructure costs. Therefore, the Company believes it is important to look at the level of capital expenditure investments relative to revenue when evaluating the Company’s performance relative to other earth observation companies or to other software and data companies with significant data center infrastructure investment requirements. The Company believes Capital Expenditures as a Percentage of Revenue is a useful metric for investors because it provides visibility to the level of capital expenditures required to operate the Company and the Company’s relative capital efficiency. Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Planet’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “target,” “anticipate,” “intend,” “develop,” “evolve,” “plan,” “seek,” “may,” “will,” “could,” “can,” “should,” “would,” “believes,” “predicts,” “potential,” “strategy,” “opportunity,” “aim,” “conviction,” “continue,” “positioned” or the negative of these words or other similar terms or expressions that concern Planet’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding Planet’s financial guidance and outlook, Planet’s path to profitability (including on an Adjusted EBITDA basis) and target for achieving Adjusted EBITDA profitability, Planet’s growth opportunities, Planet’s expectations regarding future product development and performance, and Planet’s expectations regarding its strategies with respect to its markets and customers, including trends in customer demand. Planet’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding Planet’s ability to forecast Planet’s performance due to Planet’s limited operating history. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Planet’s filings with the Securities and Exchange Commission (“SEC”), including Planet’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024, Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2024, and any subsequent filings with the SEC Planet may make. All forward-looking statements reflect Planet’s beliefs and assumptions only as of the date of this press release. Planet undertakes no obligation to update forward-looking statements to reflect future events or circumstances, except as may be required by law. Planet’s results for the quarter ended October 31, 2024, are not necessarily indicative of its operating results for any future periods. PLANET CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (In thousands) October 31, 2024 January 31, 2024 Assets Current assets Cash and cash equivalents $ 138,969 $ 83,866 Restricted cash and cash equivalents, current 6,525 8,360 Short-term investments 103,255 215,041 Accounts receivable, net 38,853 43,320 Prepaid expenses and other current assets 13,992 19,564 Total current assets 301,594 370,151 Property and equipment, net 116,920 113,429 Capitalized internal-use software, net 18,259 14,973 Goodwill 137,411 136,256 Intangible assets, net 29,231 32,448 Restricted cash and cash equivalents, non-current 4,437 9,972 Operating lease right-of-use assets 20,829 22,339 Other non-current assets 2,083 2,429 Total assets $ 630,764 $ 701,997 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $ 3,572 $ 2,601 Accrued and other current liabilities 43,670 44,779 Deferred revenue 66,462 72,327 Liability from early exercise of stock options 6,275 8,964 Operating lease liabilities, current 9,105 7,978 Total current liabilities 129,084 136,649 Deferred revenue 11,230 5,293 Deferred hosting costs 6,665 7,101 Public and private placement warrant liabilities 1,835 2,961 Operating lease liabilities, non-current 13,819 16,952 Contingent consideration 2,871 5,885 Other non-current liabilities 655 9,138 Total liabilities 166,159 183,979 Stockholders’ equity Common stock 28 28 Additional paid-in capital 1,631,077 1,596,201 Accumulated other comprehensive income 1,347 1,594 Accumulated deficit (1,167,847 ) (1,079,805 ) Total stockholders’ equity 464,605 518,018 Total liabilities and stockholders’ equity $ 630,764 $ 701,997 PLANET CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended October 31, Nine Months Ended October 31, (In thousands, except share and per share amounts) 2024 2023 2024 2023 Revenue $ 61,266 $ 55,380 $ 182,798 $ 161,844 Cost of revenue 23,749 29,350 81,288 81,375 Gross profit 37,517 26,030 101,510 80,469 Operating expenses Research and development 25,216 33,002 78,055 87,929 Sales and marketing 16,795 20,774 62,013 66,209 General and administrative 18,114 20,112 58,198 62,161 Total operating expenses 60,125 73,888 198,266 216,299 Loss from operations (22,608 ) (47,858 ) (96,756 ) (135,830 ) Interest income 2,414 3,445 8,292 11,753 Change in fair value of warrant liabilities 198 6,833 1,126 14,004 Other income (expense), net (60 ) (69 ) 660 894 Total other income, net 2,552 10,209 10,078 26,651 Loss before provision for income taxes (20,056 ) (37,649 ) (86,678 ) (109,179 ) Provision for income taxes 25 355 1,364 1,244 Net loss $ (20,081 ) $ (38,004 ) $ (88,042 ) $ (110,423 ) Basic and diluted net loss per share attributable to common stockholders $ (0.07 ) $ (0.13 ) $ (0.30 ) $ (0.40 ) Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders 293,338,324 284,197,733 290,674,554 277,252,951 PLANET CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) Three Months Ended October 31, Nine Months Ended October 31, (In thousands) 2024 2023 2024 2023 Net loss $ (20,081 ) $ (38,004 ) $ (88,042 ) $ (110,423 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustment 52 (1,667 ) (159 ) (1,543 ) Change in fair value of available-for-sale securities 48 89 (88 ) (970 ) Other comprehensive income (loss), net of tax 100 (1,578 ) (247 ) (2,513 ) Comprehensive loss $ (19,981 ) $ (39,582 ) $ (88,289 ) $ (112,936 ) PLANET CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Nine Months Ended October 31, (In thousands) 2024 2023 Operating activities Net loss $ (88,042 ) $ (110,423 ) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization 36,365 36,033 Stock-based compensation, net of capitalized cost 36,467 44,611 Change in fair value of warrant liabilities (1,126 ) (14,004 ) Change in fair value of contingent consideration 3,161 (923 ) Other (932 ) (3,538 ) Changes in operating assets and liabilities Accounts receivable 5,487 (3,872 ) Prepaid expenses and other assets 8,499 9,483 Accounts payable, accrued and other liabilities (7,731 ) (20,706 ) Deferred revenue 71 19,557 Deferred hosting costs (298 ) (92 ) Net cash used in operating activities (8,079 ) (43,874 ) Investing activities Purchases of property and equipment (32,694 ) (29,086 ) Capitalized internal-use software (4,145 ) (3,266 ) Maturities of available-for-sale securities 57,046 142,903 Sales of available-for-sale securities 162,341 40,072 Purchases of available-for-sale securities (105,582 ) (166,169 ) Business acquisition, net of cash acquired (1,068 ) (7,542 ) Purchases of licensed imagery intangible assets (4,558 ) — Other (300 ) (944 ) Net cash provided by (used in) investing activities 71,040 (24,032 ) Financing activities Proceeds from the exercise of common stock options 332 6,770 Payments for withholding taxes related to the net share settlement of equity awards (7,328 ) (7,112 ) Proceeds from employee stock purchase program 1,083 — Payments of contingent consideration for business acquisitions (8,783 ) — Other (606 ) (15 ) Net cash used in financing activities (15,302 ) (357 ) Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents 74 (65 ) Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents 47,733 (68,328 ) Cash and cash equivalents, and restricted cash and cash equivalents at the beginning of the period 102,198 188,076 Cash and cash equivalents, and restricted cash and cash equivalents at the end of the period $ 149,931 $ 119,748 PLANET RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (unaudited) Three Months Ended October 31, Nine Months Ended October 31, (in thousands) 2024 2023 2024 2023 Net loss $ (20,081 ) $ (38,004 ) $ (88,042 ) $ (110,423 ) Interest income (2,414 ) (3,445 ) (8,292 ) (11,753 ) Income tax provision 25 355 1,364 1,244 Depreciation and amortization 10,117 13,625 36,365 36,033 Change in fair value of warrant liabilities (198 ) (6,833 ) (1,126 ) (14,004 ) Stock-based compensation 11,829 12,598 36,467 44,611 Restructuring costs (1) 25 7,341 10,524 7,341 Employee transaction bonuses in connection with the Sinergise business combination (2) — 2,317 — 2,317 Certain litigation expenses (3) 395 — 395 — Other (income) expense, net 60 69 (660 ) (894 ) Adjusted EBITDA $ (242 ) $ (11,977 ) $ (13,005 ) $ (45,528 ) (1) As part of the 2024 headcount reduction, we recognized immaterial severance and other employee costs for the three months ended October 31, 2024 and $10.5 million of severance and other employee costs for the nine months ended October 31, 2024. For the three and nine months ended October 31, 2024, the restructuring related stock-based compensation benefit of $1.4 million is included on its respective line item. As part of the 2023 headcount reduction, we recognized $7.3 million of severance and other employee costs for the three and nine months ended October 31, 2023. For the three and nine months ended October 31, 2023, the restructuring related stock-based compensation benefit of $1.5 million is included on its respective line item. (2) Certain employees of Sinergise, which became employees of Planet, were paid cash transaction bonuses in connection with the closing of the Sinergise acquisition. The cost of the transaction bonuses was allocated from the purchase consideration we paid for the acquisition. (3) Expenses relating to the Delaware class action lawsuit. PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited) Three Months Ended October 31, Nine Months Ended October 31, (In thousands) 2024 2023 2024 2023 Reconciliation of cost of revenue: GAAP cost of revenue $ 23,749 $ 29,350 $ 81,288 $ 81,375 Less: Stock-based compensation 745 888 2,563 2,855 Less: Amortization of acquired intangible assets 759 796 2,298 1,674 Less: Restructuring costs 128 563 1,312 563 Less: Employee transaction bonuses in connection with the Sinergise business combination — 267 — 267 Non-GAAP cost of revenue $ 22,117 $ 26,836 $ 75,115 $ 76,016 Reconciliation of gross profit: GAAP gross profit $ 37,517 $ 26,030 $ 101,510 $ 80,469 Add: Stock-based compensation 745 888 2,563 2,855 Add: Amortization of acquired intangible assets 759 796 2,298 1,674 Add: Restructuring costs 128 563 1,312 563 Add: Employee transaction bonuses in connection with the Sinergise business combination — 267 — 267 Non-GAAP gross profit $ 39,149 $ 28,544 $ 107,683 $ 85,828 GAAP gross margin 61 % 47 % 56 % 50 % Non-GAAP gross margin 64 % 52 % 59 % 53 % PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited) Three Months Ended October 31, Nine Months Ended October 31, (In thousands) 2024 2023 2024 2023 Reconciliation of operating expenses: GAAP research and development $ 25,216 $ 33,002 $ 78,055 $ 87,929 Less: Stock-based compensation 4,294 5,655 12,120 18,555 Less: Restructuring costs (76 ) 3,297 3,464 3,297 Less: Employee transaction bonuses in connection with the Sinergise business combination — 1,891 — 1,891 Non-GAAP research and development $ 20,998 $ 22,159 $ 62,471 $ 64,186 GAAP sales and marketing $ 16,795 $ 20,774 $ 62,013 $ 66,209 Less: Stock-based compensation 1,655 1,626 6,863 7,827 Less: Amortization of acquired intangible assets 129 261 473 665 Less: Restructuring costs 24 1,943 4,457 1,943 Less: Employee transaction bonuses in connection with the Sinergise business combination — 41 — 41 Non-GAAP sales and marketing $ 14,987 $ 16,903 $ 50,220 $ 55,733 GAAP general and administrative $ 18,114 $ 20,112 $ 58,198 $ 62,161 Less: Stock-based compensation 5,135 4,429 14,921 15,374 Less: Amortization of acquired intangible assets 36 93 151 254 Less: Restructuring costs (51 ) 1,538 1,291 1,538 Less: Employee transaction bonuses in connection with the Sinergise business combination — 118 — 118 Less: Certain litigation expenses 395 — 395 — Non-GAAP general and administrative $ 12,599 $ 13,934 $ 41,440 $ 44,877 Reconciliation of loss from operations GAAP loss from operations $ (22,608 ) $ (47,858 ) $ (96,756 ) $ (135,830 ) Add: Stock-based compensation 11,829 12,598 36,467 44,611 Add: Amortization of acquired intangible assets 924 1,150 2,922 2,593 Add: Restructuring costs 25 7,341 10,524 7,341 Add: Employee transaction bonuses in connection with the Sinergise business combination — 2,317 — 2,317 Add: Certain litigation expenses 395 — 395 — Non-GAAP loss from operations $ (9,435 ) $ (24,452 ) $ (46,448 ) $ (78,968 ) PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited) Three Months Ended October 31, Nine Months Ended October 31, (In thousands, except share and per share amounts) 2024 2023 2024 2023 Reconciliation of net loss GAAP net loss $ (20,081 ) $ (38,004 ) $ (88,042 ) $ (110,423 ) Add: Stock-based compensation 11,829 12,598 36,467 44,611 Add: Amortization of acquired intangible assets 924 1,150 2,922 2,593 Add: Restructuring costs 25 7,341 10,524 7,341 Add: Employee transaction bonuses in connection with the Sinergise business combination — 2,317 — 2,317 Add: Certain litigation expenses 395 — 395 — Income tax effect of non-GAAP adjustments 914 — 1,326 — Non-GAAP net loss $ (5,994 ) $ (14,598 ) $ (36,408 ) $ (53,561 ) Reconciliation of net loss per share, diluted GAAP net loss $ (20,081 ) $ (38,004 ) $ (88,042 ) $ (110,423 ) Non-GAAP net loss $ (5,994 ) $ (14,598 ) $ (36,408 ) $ (53,561 ) GAAP net loss per share, basic and diluted (1) $ (0.07 ) $ (0.13 ) $ (0.30 ) $ (0.40 ) Add: Stock-based compensation 0.04 0.04 0.13 0.16 Add: Amortization of acquired intangible assets — — 0.01 0.01 Add: Restructuring costs — 0.03 0.04 0.03 Add: Employee transaction bonuses in connection with the Sinergise business combination — 0.01 — 0.01 Add: Certain litigation expenses — — — — Income tax effect of non-GAAP adjustments — — — — Non-GAAP net loss per share, diluted (2) (3) $ (0.02 ) $ (0.05 ) $ (0.13 ) $ (0.19 ) Weighted-average shares used in computing GAAP net loss per share, basic and diluted (1) 293,338,324 284,197,733 290,674,554 277,252,951 Weighted-average shares used in computing Non-GAAP net loss per share, diluted (1) 293,338,324 284,197,733 290,674,554 277,252,951 (1) Basic and diluted GAAP net loss per share was the same for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive. (2) Non-GAAP net loss per share, diluted is calculated using weighted-average shares, adjusted for dilutive potential shares assumed outstanding during the period. No adjustment was made to weighted-average shares for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive. (3) Totals may not sum due to rounding. Figures are calculated based upon the respective underlying non-rounded data. PLANET RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited) The table below reconciles Backlog to remaining performance obligations for the periods indicated: (in thousands) October 31, 2024 January 31, 2024 Remaining performance obligations $ 145,890 $ 132,571 Cancellable amount of contract value 86,250 109,821 Backlog $ 232,140 $ 242,392 For remaining performance obligations as of October 31, 2024, the Company expects to recognize approximately 82% over the next 12 months, approximately 98% over the next 24 months, and the remainder thereafter. For Backlog as of October 31, 2024, the Company expects to recognize approximately 70% over the next 12 months, approximately 91% over the next 24 months, and the remainder thereafter. View source version on businesswire.com : https://www.businesswire.com/news/home/20241209391021/en/ CONTACT: Investor Contact Chris Genualdi / Cleo Palmer-Poroner Planet Labs PBC ir@planet.comPress Contact Claire Bentley Dale Planet Labs PBC comms@planet.com KEYWORD: CALIFORNIA BRAZIL UNITED STATES SOUTH AMERICA NORTH AMERICA LATIN AMERICA EUROPE GERMANY INDUSTRY KEYWORD: SOFTWARE MOBILE/WIRELESS NETWORKS OTHER DEFENSE PROFESSIONAL SERVICES HARDWARE DATA MANAGEMENT TECHNOLOGY DEFENSE SATELLITE OTHER TECHNOLOGY ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) SOURCE: Planet Copyright Business Wire 2024. PUB: 12/09/2024 04:08 PM/DISC: 12/09/2024 04:08 PM http://www.businesswire.com/news/home/20241209391021/en
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No, Voice of America is not a new government organizationWashington, Nov 30 (PTI) US President-elect Donald Trump has met Canadian Prime Minister Justin Trudeau at his Mar-a-Lago resort in Florida, where they discussed key bilateral issues, including trade, tariffs, border security, and drug trafficking. In a social media post on Friday, Trump described the meeting as "productive", highlighting Trudeau's commitment to address these issues. However, there was no indication of any resolution of the differences between the incoming US administration and the Canadian government. “I just had a very productive meeting with Prime Minister Justin Trudeau of Canada, where we discussed many important topics that will require both countries to work together to address," Trump said. The topics include Fentanyl and drug crisis due to illegal immigration, fair trade deals that do not jeopardise American workers, and the massive trade deficit the US has with Canada, he said. Trump emphasised his administration's commitment to tackling the drug epidemic. “The US will no longer sit idly by as our citizens become victims to the scourge of this drug epidemic, caused mainly by drug cartels, and Fentanyl pouring in from China,” he said. “Too much death and hardship! Prime Minister Trudeau has made a commitment to work with us to end this terrible devastation of US families. We also spoke about many other important topics like energy, trade, and the Arctic. All are vital issues that I will be addressing on my first days back in office, and before,” Trump said. According to The New York Times newspaper, the dinner meeting between the two leaders on Friday included senior Canadian officials and Trump’s close aides. Prominent among them were North Dakota Governor Doug Burgum, Trump's nominee for interior secretary; Howard Lutnick, his pick for commerce secretary; and Mike Waltz, his choice for national security adviser. (This story has not been edited by THE WEEK and is auto-generated from PTI)
Channel 4 News was named News Provider of the Year at the British Journalism Awards 2024 for its eyewitness journalism from Gaza, coverage of the Post Office scandal and undercover reporting during the UK general election The British Journalism Awards judges said Channel 4 News had “led the way providing public interest journalism which raises the reputation of our whole industry”. Meanwhile, a Sunday Times staffer was Journalist of the Year winner for the second year in a row: Caroline Wheeler received the title for her work on the infected blood scandal, following in the footsteps of colleague Gabriel Pogrund in 2023. Judges said Wheeler was recognised for her work both over the previous year and over the course of a 23-year crusade in which she was instrumental in bringing about the public inquiry that began in 2017. Wheeler also won the Politics Journalism category for, the judges said, being “outstanding work which is the definition of public interest journalism”. The Sun won two of the most prestigious categories – Investigation of the Year and Scoop of the Year – for its work investigating the BBC and its most high-profile newsreader Huw Edwards. The awards were presented at a gala dinner hosted by BBC and Channel 5 presenter Jeremy Vine at the London Hilton Bankside on Thursday night. Other highlights included the posthumous recognition in the Public Service category for David Knowles, who spearheaded The Telegraph’s flagship Ukraine: The Latest podcast before his sudden death aged 32 in September. And two journalists reporting from inside Gaza for Channel 4 News and BBC Eye Investigations – Yousef Hammash and Feras Al Ajrami – jointly received the Marie Colvin Award given to outstanding up-and-coming journalists of the calibre of the Sunday Times correspondent who was killed in Syria in 2012. The 13th annual British Journalism Awards continued to celebrate journalism that showed skill and rigour, was revelatory and served the public interest. The 26 winners were whittled down from more than 750 entries and 170 finalists by an independent panel of 80 judges. The BBC was a big winner of the night across four categories through its different strands. Laura Kuenssberg was named Interviewer of the Year for interviews with Baroness Mone and Chancellor Rachel Reeves on her Sunday morning programme, a team from Radio 4 won the Crime & Legal Affairs Journalism category for their work tracking down a wanted people smuggler, and a Panorama team won Social Affairs, Diversity & Inclusion Journalism for revealing allegations of exploitation and abuse at fashion brand Abercrombie and Fitch. The BBC was also highly commended in four categories. Also recognised in four categories were The Times and Sunday Times: as well as Wheeler’s two prizes, Rosamund Urwin and Charlotte Wace won in Arts & Entertainment Journalism for their investigation into allegations against Russell Brand and Oliver Marsden won New Journalist of the Year for work from Israel and Lebanon for The Sunday Times and Al Jazeera. The publisher was further highly commended in three categories. The Economist was close behind with three wins: Duncan Robinson won the Comment Journalism category, while from its 1843 magazine Thomas Dworzak won Photojournalism and Amanda Chicago Lewis won Technology Journalism. The Sun was rewarded in two categories (Scoop and Investigation of the Year) for its work revealing allegations and then charges against Huw Edwards. The judges said: “Unmasking such a powerful figure and exposing not only how they abused their position but but how the BBC had failed to act was a huge act of public interest. This story required not just old-fashioned investigative techniques but sensitivity and judgement in how to handle and present the investigation.” Also winning two categories each were The Bureau of Investigative Journalism and The Guardian (which did not have any representation on the awards night due to the ongoing strike against the sale of The Observer to Tortoise). Nominated Guardian journalists shared a statement read out on the night which said: “We are so disappointed that we can’t be here with you tonight, but want to thank Press Gazette and the judges for shortlisting us and also pay tribute to our fellow nominees for their impressive work. From the picket lines, have a great night.” In his opening comments, Press Gazette editor-in-chief and chairman of the judges Dominic Ponsford said: “Artificial intelligence can do a lot, but it can’t go undercover in a prison, care home or school. It can’t be the eyes of the world, risking everything to report from war zones. And it can’t make the call to face down legal threats, despite the high costs, and decide to publish and be damned as so many of you have done over the last year. “Amid a sea of online content which can be filled with ‘made for advertising’ sewage, the work on display tonight reminds us all that real journalism is special, it does matter and it can make a difference. It is worth fighting for and protecting from the parasitical US tech giants who have been allowed to dominate and monopolise so much of our media and culture.” The awards were supported by headline sponsor Starling Bank along with Amazon and RenewableUK. The event supported charity partner the Journalists’ Charity, which is devoted to assisting members of the profession who fall on hard times. If you can, please help a colleague by making a donation via this link . WINNER: Josephine Moulds — The Bureau of Investigative Journalism The judges said: “Well written, detailed and revelatory. Three massive stories which had an impact and got results.” Highly commended: Guy Grandjean, Patrick Fee, Gwyneth Jones and Chris Thornton — BBC Spotlight Northern Ireland Highly commended: Sam McBride — Belfast Telegraph The judges said the highly commended finalists “both exposed really shocking levels of pollution in Britain’s largest freshwater lake and got results”. WINNER: Rebecca Thomas — The Independent The judges said the winner’s work provided “three significant examples of dogged journalism which had a huge impact”. WINNER: Gill Plimmer and Robert Smith — Financial Times The judges said the FT “played to two of its journalists’ strengths here – notably its coverage of infrastructure and the debt markets – to bring the crisis at Thames Water to front pages across the country”. Highly commended: Anna Isaac and Alex Lawson — The Guardian The judges said: “This was an impressive, good old-fashioned off-diary scoop of the best variety, clearly written against a wall of intransigence.” WINNER: Sue Mitchell, Rob Lawrie, Joel Moors, Winifred Robinson, Dan Clarke, Philip Sellars, Tom Brignell and Mom Tudie — BBC Radio 4 The judges said: “Gripping, brave, brilliant tradecraft and a huge public interest operation achieving what the police couldn’t.” WINNER: Duncan Robinson — The Economist The judges said Robinson was “absolutely on the money on freebies long before the rest of the media, particularly Keir Starmer’s declarations. He exemplifies the fine art of balanced commentary.” WINNER: Simon Lock, Rob Davies and Jacob Steinberg — The Bureau of Investigative Journalism / The Guardian The judges said: “This was superb work which tenaciously pursued a story others seemed happy to forget, exposing the less salubrious machinations behind the lucrative world of football.” WINNER: Tom Pettifor, Matthew Young and Daniel Dove — Daily Mirror The judges said: “This was a compelling video report which revealed persuasive new evidence on one of the UK’s most high-profile unsolved murders, 25 years on.” Highly commended: Mohamed Ibrahim, Owen Pinnell, Mouna Ba, Wael El-Saadi and Feras Al Ajrami — BBC Eye Investigations The judges said: “A deeply compelling watch that captured brilliantly the plight of people in Gaza.” Highly commended: Reem Makhoul, Robert Leslie, Clancy Morgan, Amelia Kosciulek, Matilda Hay, Liz Kraker, Dorian Barranco, Barbara Corbellini Duarte, Erica Berenstein and Yasser Abu Wazna — Business Insider The judges said: “A highly polished and beautifully visualised piece of research about the effects of the war in Gaza.” WINNER: Emily Townsend — Health Service Journal The judges said: “A great range of stories tackling tough subjects, all well researched and genuinely impactful.” WINNER: Thomas Dworzak — 1843 magazine, The Economist The judges said: “A sensitive and deeply moving set of photos which reveal an untold story and provide a visual record of the human toll of geopolitical conflict.” WINNER: Harry Lewis-Irlam, Stephen Matthews, Darren Boyle and Rhodri Morgan — Mail Online: Deep Dive The judges said: “A clever way of conveying complex information without overwhelming the audience. A genuinely innovative new story format.” Highly commended: Alison Killing, Chris Miller, Peter Andringa, Chris Campbell, Sam Learner and Sam Joiner — Financial Times The judges said this entry displayed an “innovative use of AI on an extremely important public interest story”. Highly commended: David Dubas-Fisher, Cullen Willis, Paul Gallagher and Richard Ault — Reach Data Unit The judges said this was “data journalism that makes excellent use of public data to provide useful information in an accessible format”. WINNER: Amanda Chicago Lewis — 1843 magazine, The Economist The judges said: “This was a gripping story which shed new light on one of the biggest problems in the world of technology and how companies respond when they are under ransomware attack.” WINNER: Sirin Kale — The Guardian The judges said: “Sirin’s work is a masterclass in how to blend beautiful writing with meticulous research to ensure she delivers an absolute must-read piece of journalism.” Highly commended: Fiona Hamilton — The Times The judges said: “A journalistic class act who showcases how to bring unique angles to tragedies which had received global scrutiny.” Highly commended: Inderdeep Bains — Daily Mail The judges said: “Inderdeep’s determination to give a voice to a vulnerable young person who literally could not speak for herself resulted in real-world discussion around policy change. A heartbreaking story told with compassion and vigour.” WINNER: Feras Al Ajrami — BBC Eye Investigations WINNER: Yousef Hammash — Channel 4 News The judges said: “Whilst the world’s media has been banned from entering Gaza, these reporters were among those who have ensured that victims of the conflict still have a voice. It is a conflict zone which has become the most deadly in history for the media, with 137 journalists and media workers killed in just over a year. “They’ve both captured the voice from the ground, shown tremendous courage in appalling circumstances and produced vivid, memorable stories. Whilst one chronicled the work of emergency crews working in Gaza during the first weeks of the conflict, the other winner covered the bombardment of Gaza even as his home was destroyed and he had to flee south with his family.” WINNER: Oliver Marsden — The Sunday Times/Al Jazeera The judges said: “This journalist has demonstrated huge courage reporting from dangerous areas. Vivid and compelling reporting.” WINNER: Sam McBride — Belfast Telegraph The judges said: “Sam is a proper journalistic pain in the arse for those in power. Strong, compelling stories, meticulously researched and told with flair and authority.” Highly commended: Abi Whistance, Joshi Herrmann, Kate Knowles, Mollie Simpson and Jothi Gupta — Mill Media The judges said this was “brilliant forensic reporting drawing threads together from three cities to create a powerful expose of exploitation and corruption”. Highly commended: Richard Newman, Jennifer O’Leary, Gwyneth Jones and Chris Thornton — BBC Spotlight The judges said: “Absolutely compelling documentary making which exposed the police incompetence that allowed a killer to be at his dying victim’s bedside.” WINNER: Rianna Croxford, Ruth Evans, Cate Brown, Ed McGown, Tom Stone, Ed Campbell and Karen Wightman — BBC Panorama The judges said: “This three-year investigation made global headlines after it revealed sexual abuse and exploitation at the top of a major fashion brand. Brave journalism which gave male victims a voice in the #metoo movement and has had a huge impact.” Highly commended: Abi Kay — Farmers Weekly The judges said this was “journalism which exposed uncomfortable truths at the heart of the community this publication serves”. Highly commended: Joshua Nelken-Zitser, Ida Reihani and Kit Gillet — Business Insider The judges said this was a “wide-ranging investigation into a largely untold story in one of the most secretive parts of the world”. WINNER: Laura Kuenssberg — Sunday with Laura Kuenssberg, BBC News The judges said: “Laura is forensic, politely determined and never lets her subject off the hook.” Highly commended: Christina Lamb — The Sunday Times The judges said: “An excellent spread of work. Intelligence and brilliant on detail.” Highly commended: Nick Ferrari — LBC Ferrari was praised for: “Consistently making headlines thanks to his quick thinking and superb journalism instincts.” The judges also congratulated him for marking 20 years presenting LBC’s breakfast show, the longest stint of any UK commercial radio breakfast presenter. WINNER: Rosamund Urwin and Charlotte Wace — The Times and The Sunday Times The judges said: “This was undoubtedly one of the scoops of the year in the entertainment industry. Journalism which overcame a culture of silence and intimidation.” WINNER: Vanessa Bowles and Jaber Badwan — Channel 4 Dispatches The judges said: “This was the most startling and compelling of many entries from the Israel/Gaza conflict, exposing the true cost of war. It was impossible not to be moved by the children’s stories of life inside Gaza.” Highly commended: Kim Sengupta — The Independent The judges wanted to recognise the “late, great” Kim Sengupta who died in July aged 68. They said: “Typically vivid reporting from Kim Sengupta, one of the finest foreign correspondents of our time. As always he was at the sharp end of the story, bringing to life the impact and the price of war in Ukraine and Israel/Gaza. His skill, his determination and his courage will be missed after his passing this year. He represented the best of British journalism and deserves our recognition.” WINNER: Caroline Wheeler — The Sunday Times The judges said: “This was outstanding work which was the definition of public interest journalism: a story and a campaign that is literally life and death to so many people.” Highly commended: Beth Rigby — Sky News The judges said: “Beth is always brilliant at holding politicians to account in simple and direct style.” WINNER: Computer Weekly editorial team — Computer Weekly: Post Office Scandal The judges said: “Sometimes, campaigning journalism takes time to have an impact. For this title it has taken 15 years and 450 stories. They prove that you don’t have to be big to make a massive impact and have led the way on one of the biggest stories of the century so far, playing a crucial role in finally securing justice for victims.” WINNER: Ex-BBC presenter Huw Edwards charged with making 37 indecent images of children, ‘shared on WhatsApp’ — The Sun The judges said: “This was a series of astonishing scoops incredibly sensitively handled, despite some sneering from the usual suspects. Some stories you have to fight incredibly hard to get over the line, and this is one of them. Another game changer.” WINNER: Channel 4 News The judges said: “From searing eye-witness journalism in Gaza to breaking new ground in coverage of the Post Office scandal, Channel 4 News has led the way providing public interest journalism which raises the reputation of our whole industry.” WINNER: David Knowles — The Telegraph The judges said Knowles, who died suddenly at the age of just 32 in September , “made a global impact in a short life. The daily podcast he launched – Ukraine: The Latest – continues to this day and has now had more than 700 episodes and 100 million listens. “Thousands of those listeners paid tribute to Knowles as someone who inspired them to support the people of Ukraine in their struggle against Russian aggression.” The judges added: “His work is an inspirational example of the capacity for journalism to create communities, provide a voice for those who need it most and reach a huge audience by simply telling human stories in a sensitive and intelligent way.” The Public Service Award was collected on behalf of Knowles by his Telegraph colleague Francis Dearnley. WINNER: Scarlet Howes, Mike Hamilton, Alex West, Victoria Newton and James Slack — The Sun The judges said: “Unmasking such a powerful figure and exposing not only how they abused their position but how the BBC had failed to act was a huge act of public interest. This story required not just old-fashioned investigative techniques but sensitivity and judgement in how to handle and present the investigation.” Highly commended: Rosamund Urwin, Charlotte Wace, Paul Morgan-Bentley, Esella Hawkey, Imogen Wynell Mayow, Alice McShane, Florence Kennard, Ian Bendelow, Victoria Noble, Alistair Jackson, Sarah Wilson and Geraldine McKelvie — The Sunday Times, The Times, Hardcash Productions, Channel Four Dispatches Investigations Unit The judges said: “A hard-hitting dissection of a predator who was aided and abetted by the industry he worked in. Meticulous work which had to reach a high bar in order to make it to publication.” Highly commended: Ruth Evans, Oliver Newlan, Leo Telling, Sasha Hinde, Hayley Clarke and Karen Wightman — BBC Panorama The judges said this was “an investigation that exposed cruelty and profiteering in the field of special needs education, led to a school being closed down and staff arrested”. WINNER: Caroline Wheeler — The Sunday Times Press Gazette editor-in-chief and chairman of the judges Dominic Ponsford said Wheeler was “recognised not just for her work over the last 12 months but over the course of a 23-year crusade. Her work was instrumental in bringing about the infected blood public inquiry in 2017. She led a campaign which last year was backed by 250 MPs and peers seeking a fair settlement for victims of the tragedy. “The campaign and public report helped secure the promise of more than £10bn in compensation, undermining the previous government’s ability to offer tax cuts and perhaps even hastening the general election.” Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
Over the past few years, women voters have emerged as one of the most influential demographics in Indian elections. No longer seen as passive participants, they are active decision-makers reshaping political campaigns. Politechnica, led by founders Chirag Choudhary and Ishan Rajput, has been at the forefront of this shift, crafting strategies that resonate with women’s needs and aspirations. The 2024 Maharashtra Vidhan Sabha elections exemplify this trend, where women-centric policies and targeted outreach became critical to electoral success. At Politechnica, we believe in our core values: Insight. Creativity. Impact. These values drive every campaign we design and execute. Women Voters as Game Changers With 46.6 million registered women voters in Maharashtra, their influence in this election cannot be overstated. Across urban and rural constituencies, women voters demanded solutions to long-standing issues like safety, healthcare, job creation, and education. The turnout figures reflect this growing enthusiasm—women voters are closing the gap with their male counterparts and, in some cases, even surpassing them. In Himachal Pradesh, Politechnica’s campaign strategy created history by securing a record voter turnout, where for the first time in the state’s Vidhan Sabha history, more women voters participated than men. This victory wasn’t just electoral; it highlighted how women are stepping up as key decision-makers in shaping the country’s political future. “As an organization, we firmly believe that empowering women is the cornerstone of meaningful societal change,” said Chirag Choudhary, co-founder of Politechnica. “When you uplift a woman, you strengthen a family; when you empower families, you transform villages; and when villages thrive, the nation prospers. Our campaigns focus on addressing the real issues women face, ensuring their voices drive progress and shape the future of our democracy.” From “Revdi” to Empowerment What was once dismissed as “revdi” or election freebies is now being reframed as tools of empowerment for women. Initiatives like the Ladki Bahina Yojana in Maharashtra and the Ladli Behna Yojana in Madhya Pradesh are not just about direct cash transfers—they represent a broader shift in how women’s issues are being prioritized in policy-making. While these schemes have received praise, their success varies across regions. In rural Maharashtra, women expressed gratitude for the ₹1,500 monthly aid. However, in urban areas, rising inflation dampened the scheme’s appeal, with many voters calling for systemic solutions rather than one-time assistance. This highlights the grey area in policy impact, with mixed outcomes depending on the demographic. Bridging the Urban-Rural Divide Women’s needs vary significantly between urban and rural areas. Urban women prioritize issues like air pollution, property taxes, and public transport, while rural women focus on water, healthcare, and education for their children. Politechnica’s strategies carefully balanced these diverse needs, helping candidates craft messages that addressed specific challenges. For instance, in constituencies with poor public transport infrastructure, Politechnica advised candidates to promise tangible improvements such as better bus stands and enhancing safety through solar streetlights. These measures resonated deeply with women, who have historically borne the brunt of inadequate infrastructure. Innovative Schemes to Empower Women In 2022, Politechnica took this trend a step further, crafting campaigns that addressed women’s key concerns at a deeper level. By focusing on real, actionable issues, we drove transformative change through: • Education for Children: Advocating better school infrastructure and financial aid to ensure every child, especially girls, gets quality education. • Youth Upskilling Programs: Training unemployed youth in market-ready skills to alleviate household anxieties and empower families. • Solar Street Lamps for Safety: Making public spaces safer for women in rural and urban areas with sustainable lighting solutions. • Mobile Ambulances: Addressing critical gaps in healthcare access by deploying mobile units, especially in remote areas where the nearest hospital is over 65 km away. Grassroots Outreach and Digital Engagement Politechnica’s women-centric campaigns utilized grassroots networks, self-help groups (SHGs), and local influencers to amplify messaging. Door-to-door campaigns addressing maternal health concerns and water accessibility struck a chord in rural areas, while targeted social media outreach on platforms like Instagram and WhatsApp engaged young, educated women voters in urban regions. Politechnica: Driving Change Across States Politechnica’s expertise in political consulting has led to impactful campaigns across six states, including Maharashtra, Himachal Pradesh, and Chhattisgarh. The firm’s focus on understanding local demographics and crafting tailored strategies has made it a trusted name among political parties. Having worked with national and regional parties, several Ministries of states and the centre and Chief Ministers alike, Politechnica is now expanding further into the south and the north, with exciting projects lined up for the upcoming Municipal Corporation elections in Maharashtra, the Delhi Vidhan Sabha elections, and the Bihar state elections scheduled for 2025. The Accountability Factor At Politechnica, we believe in impact-driven politics—a philosophy that prioritizes long-term solutions over quick fixes. We push our clients to embrace this approach, as it not only yields the highest returns for their political careers but also serves the greater good of the public they represent. By uplifting women and ensuring their concerns are addressed, Politechnica continues to shape campaigns that make a lasting impact.Did you know that 45 percent of jobs could be automated in the next 20 years, says McKinsey & Co? This shows a big change coming in many fields, thanks to new tech like AI, IoT, and digital twins. California is ready for big business growth, with the 5th largest GDP in the world. Its big economy, helped by lots of venture capital, is perfect for IT leaders to make a big difference. The Governor’s Office of Business and Economic Development (GO-Biz) is leading this change, helping many areas grow. California is also focusing on digital equity and human-centered design in the GenAI era. IT leaders can make a huge impact here. They can help manage crises and create digital services that everyone can use, changing the business scene in California. Now is the time to explore how IT strategies can boost business in California. This will help local companies use new tech and strong leadership to grow. Finding IT Partnerships Across West Coast Finding the right IT partnerships on the West Coast is key for smooth operations and new ideas. The top IT channel partners are crucial in providing top-notch IT support that meets business goals. SynchroNet in Buffalo is a great example of this, offering full outsourced IT support services . SynchroNet’s IT services reach far beyond New York, helping the West Coast’s growing industries. Their skills help California stay at the forefront of new businesses. West Coast University, with 58,000 alumni, also benefits from these services. They help with educational deals, tuition, and learning tools. Strong IT partnerships also boost efficiency for companies with big needs. SynchroNet shows how outsourced IT can revitalize businesses. They create efficient IT plans, helping California’s businesses thrive. Outsourced IT expertise is vital for growth. It’s important for companies to use established partnerships. As California keeps innovating, outsourced IT support will be key to success on the West Coast. Leveraging Leadership Best Practices for Growth Effective business leadership in California often hinges on leveraging leadership best practices to foster steady growth. One focal point is the transformative leadership approach advocated by organizations like the California Employers Association. This organization emphasizes inclusive, practical leadership training to make businesses more human-centric. Aligning core company values with modern workforce needs is indispensable for growth. As remote work becomes more prevalent, utilizing digital communication tools like Slack, Microsoft Teams, and Zoom ensures clear and efficient interactions between leaders and their teams. Supporting this, training via platforms like LinkedIn Learning, Coursera, and Udemy offers leaders and employees avenues for upskilling, ensuring continuous organizational development. Key data analytics and business intelligence tools empower leaders to make informed choices, vital for a robust growth strategy . Tackling routine tasks with automation tools like Calendly and HubSpot allows leaders to focus more on strategic planning. Additionally, employee engagement platforms like Culture Amp and SurveyMonkey play a crucial role in tracking engagement levels and gathering valuable feedback for data-driven improvements. Modern business leadership demands that leaders adeptly blend technology and people-centered strategies. For California businesses aiming for substantial growth, adopting these leadership best practices not only drives productivity but also ensures a forward-thinking trajectory in the increasingly digital era. Transforming California’s IT Landscape through Innovation California’s IT scene is always changing thanks to new tech. This has led to better public services and more efficient businesses. The state is known for its innovative spirit, ranking 1st in the 2024 Digital States Survey for “Leadership” and getting an ‘A’ from the Center for Digital Government. The California Department of Technology (CDT) leads the state’s IT efforts. It uses cutting-edge tech like Generative AI and the Middle-Mile Broadband Initiative (MMBI). These steps help improve government services, close the digital gap, and bring fast internet to more people. Some California companies show how IT can make a big difference: California focuses on creating a digital identity system and improving cybersecurity. It aims to be a global leader in technology and innovation . The state’s values of Simplify, Enable, and Evolve show its commitment to a secure and inclusive tech future. The state works with private companies and focuses on digital fairness. It supports training and mentorship through programs like the Information Technology Leadership Academy. This helps drive advancements in technology throughout California. Fostering Emotional Intelligence in IT Leaders Emotional intelligence is key in the tech world. IT leaders now focus on both technical skills and emotional management. This includes managing their own emotions and those of their team. Jen Shirkani says emotional intelligence helps leaders connect better with their teams. It makes them more adaptable and resilient. This is vital in the stressful tech world. Many tech companies now include emotional intelligence training in their leadership programs. There are many benefits to developing emotional intelligence in IT leaders: Consulting firms offer special programs to improve emotional intelligence in tech leaders. These include: Creating a culture of emotional intelligence takes ongoing learning and reflection. It also needs a strong commitment from leaders. Emotionally intelligent IT leaders create a better work environment. They also improve teamwork, resilience, and job satisfaction. As more tech companies value EQ development , it’s clear emotional intelligence is essential. It’s not just a soft skill but a strategic must. The benefits range from a positive work environment to driving innovation. How Strong IT Support Can Drive Business Success The Importance of Reliable IT Support is huge, especially for small businesses. Good IT support keeps businesses running smoothly and safely. Companies like SynchroNet show how important it is to have efficient IT systems. Small businesses face more cyber threats because they often have weaker security. This makes it crucial to have a solid IT plan. Good IT planning saves money by avoiding unexpected costs and downtime. It also keeps systems running well and makes businesses more secure and efficient. A strong IT support system offers 24/7 monitoring and maintenance. These services protect against digital threats and keep systems running. Investing in IT support means less downtime, better data security, and business growth. It also saves money by avoiding costly emergencies. To show the benefits, here’s a comparison of IT support services: The Importance of Reliable IT Support is clear. It drives business success by taking proactive steps and planning. IT support boosts business performance, security, and efficiency. It helps small businesses stay safe and grow for the long term. Conclusion Insights from top IT experts can greatly shape California’s business scene. Over 25 leading IT companies offer game-changing services. More than 450 experts focus on Development, Cloud, Workspace, and Security, laying a strong foundation for change. The impact of IT leadership on strategic IT developments is huge. As a 100% Mulesoft partner, Conclusion highlights the need for smooth integration for digital success. Their work as an AFAS partner boosts implementations and optimizations. They focus on AI, helping businesses use data to innovate and grow. Advanced IT support and leadership development are key in today’s complex business world. Conclusion advises on digital strategy, change management, and improving performance. They also offer top-notch security services, including GAP analyses and compliance, to protect data. Conclusion shows how strategic IT can lead to a future where technology and business are fully integrated in California and beyond.Brown 83, Canisius 76By JILL COLVIN NEW YORK (AP) — President-elect Donald Trump wants to turn the lights out on daylight saving time. In a post on his social media site Friday, Trump said his party would try to end the practice when he returns to office. “The Republican Party will use its best efforts to eliminate Daylight Saving Time, which has a small but strong constituency, but shouldn’t! Daylight Saving Time is inconvenient, and very costly to our Nation,” he wrote. Setting clocks forward one hour in the spring and back an hour in the fall is intended to maximize daylight during summer months, but has long been subject to scrutiny. Daylight saving time was first adopted as a wartime measure in 1942. Lawmakers have occasionally proposed getting rid of the time change altogether. The most prominent recent attempt, a now-stalled bipartisan bill named the Sunshine Protection Act , had proposed making daylight saving time permanent. The measure was sponsored by Florida Sen. Marco Rubio , whom Trump has tapped to helm the State Department. Related Articles National Politics | Ruling by a conservative Supreme Court could help blue states resist Trump policies National Politics | A nonprofit leader, a social worker: Here are the stories of the people on Biden’s clemency list National Politics | Nancy Pelosi hospitalized after she ‘sustained an injury’ on official trip to Luxembourg National Politics | Veteran Daniel Penny, acquitted in NYC subway chokehold, will join Trump’s suite at football game National Politics | About 3 in 10 are highly confident in Trump on Cabinet, spending or military oversight: AP-NORC poll “Changing the clock twice a year is outdated and unnecessary,” Republican Sen. Rick Scott of Florida said as the Senate voted in favor of the measure. Health experts have said that lawmakers have it backward and that standard time should be made permanent. Some health groups , including the American Medical Association and American Academy of Sleep Medicine, have said that it’s time to do away with time switches and that sticking with standard time aligns better with the sun — and human biology. Most countries do not observe daylight saving time. For those that do, the date that clocks are changed varies, creating a complicated tapestry of changing time differences. Arizona and Hawaii don’t change their clocks at all.
The 49ers' playoff hopes are still teetering even after get-right game against the BearsThe 49ers' playoff hopes are still teetering even after get-right game against the BearsNeil Critchley's Hearts penalty gripe branded 'ridiculous' as Copenhagen boss tells him why it didn't matter anyway
forward is one of the most accomplished young basketball stars in the country: she's a former champion (2021, with ), a (2020), and 3x3 World Cup MVP (2023). Even though her rookie season in the was cut short due to a serious injury (a torn ACL after an awkard fall), the future looks very promising for the native. Off the court she's been on a roll: she became first sponsored female basketball player in August 2023. She's also an ambassador for the popular jewelry brand was the cover for the July edition of and she's part of the roster for the anticipated , which includes powerhouse names such as Jordan among many others. Brink looks stunning in a behind-the-scenes video of SI recently posted a behind-the-scenes video of the We can see the basketball player chilling on the beach while she's wearing a stunning white swimsuit. "This 2025 Swimsuit roster is looking so good." posted the magazine on Instagram, describing the player as "one of the most captivating athletes of her generation." "Known for her undeniable skill and towering presence on the court, the 22-year-old brings her fierce energy to her SI Swimsuit debut. From her impressive college career at Stanford to her rookie year in the WNBA with the Los Angeles Sparks, Brink is not only dominating the court but also redefining the intersection of fashion and sports with her sleek, standout pre-game tunnel looks". added SI. Looking ahead, Brink is focused on her recovery and hopes to return stronger for the season. Although her injury was a setback, her resilience and determination continue to shine through as she prepares for the long rehabilitation process. Fans are eager to see what the big Brink will bring when she's back on the court, especially after such a promising start to her career. The bad news for her and the Sparks is that they once again have the No. 2 pick in the 2025 draft, making it nearly impossible for them to secure the services of , as they did last year when Clark went to the Fever with the first pick.
All Three Patients Treated in First Dose Cohort Administered Fludarabine-free Conditioning and Show Rapid, Deep, and Sustained B-cell Depletion with Favorable Safety Profile First Patient to Reach 6-Month Follow-up Remains in DORIS Clinical Remission and Free of All Immunosuppressive Therapies Company Plans to Initiate Dose Expansion at First Dose Level of 360M Cells SAN DIEGO, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Fate Therapeutics, Inc. FATE , a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune disorders, today presented new clinical and translational data from the Company's FT819 Phase 1 Autoimmunity study for moderate-to-severe systemic lupus erythematosus (SLE) at the American Society of Hematology (ASH) Annual Meeting being held in San Diego, CA. The first three study patients, each of whom presented with active lupus nephritis (LN) despite having been treated with multiple standard-of-care therapies, received fludarabine-free conditioning followed by a single dose of FT819 at 360 million cells. There were no dose-limiting toxicities (DLTs), no events of any grade of cytokine release syndrome (CRS), immune effector-cell associated neurotoxicity syndrome (ICANS), or graft-versus-host disease (GvHD), and rapid, deep, and sustained elimination of CD19+ B cells in the periphery was observed during the first month of treatment. FT819 is the Company's off-the-shelf, CD19-targeted, 1XX CAR T-cell product candidate comprised of CD8αβ+ T cells with a memory phenotype and high CXCR4 expression to promote tissue trafficking. "We continue to be very pleased with early clinical observations of fludarabine-free conditioning and FT819 off-the-shelf, CAR T-cell therapy in patients with moderate-to-severe SLE. The remarkable experience of the first patient treated in April is ongoing, as the patient remains on-study in drug-free clinical remission. In addition, the initial clinical and translational data from the two additional patients treated at the first dose level continue to support the potential for disease transformation," said Bob Valamehr, President of Research and Development of Fate Therapeutics. "We are now initiating dose expansion at this first dose level to accelerate development, and are also escalating dose based on the favorable safety profile observed. In addition, I am pleased to announce that the first patient has now been treated with FT819 as an add-on to maintenance therapy without conditioning chemotherapy. We believe our therapeutic approach is highly-differentiated and has the potential to transform disease outcomes without requiring patient apheresis, discontinuation of maintenance therapy, intense conditioning chemotherapy, and extended hospitalization." FT819 Phase 1 Autoimmunity Study The ongoing multi-center, Phase 1 clinical trial for patients with moderate-to-severe SLE is designed to evaluate the safety, pharmacokinetics, and anti-B cell activity of FT819 (NCT06308978). The first three patients, all of whom presented with active LN despite having been treated with multiple standard-of-care therapies, received fludarabine-free conditioning consisting of either cyclophosphamide alone or bendamustine alone, followed by a single dose of FT819 at 360 million cells. In all three patients, FT819 was detected in the peripheral blood and rapid, deep, and sustained elimination of CD19+ B cells in the periphery was observed during the first month of treatment. All three patients remain on-study, and there have been no DLTs and no events of any grade of CRS, ICANS, or GvHD. Based on these clinical observations, the Company is initiating dose expansion in up to 10 patients at this first dose level, and is also escalating dose to 720 million cells. The Company's FT819 Phase 1 Autoimmunity study also includes a second treatment arm to assess the safety, pharmacokinetics, and anti-B cell activity of a single dose of FT819 as an add-on to maintenance therapy without conditioning chemotherapy in patients with SLE. The first patient has now been treated in this second arm, which is being conducted in parallel with the study's conditioning arm. FT819 Patient 1 Case Study The first patient treated in the Phase 1 Autoimmunity study presented with active LN and severe disease, which was marked by renal BILAG A (British Isles Lupus Assessment Group) disease activity score based on biopsy, SLEDAI-2K (Systemic Lupus Erythematosus Disease Activity Index) score of 20, FACIT-Fatigue (Functional Assessment of Chronic Illness Therapy-Fatigue) score of 33 (range 0-52, where a score of 52 indicates no fatigue) and PGA (Physician Global Assessment) score of 2.5 (where a score of 3 indicates most severe activity). Following administration of fludarabine-free conditioning and treatment with a single dose of FT819 at 360 million cells, the patient was discharged from the hospital without notable adverse events (AEs) after a protocol-required three-day stay. Rapid elimination of CD19+ B cells in the periphery was observed following treatment, and B-cell recovery by Month 3 was predominantly comprised of naïve, non-class switched B cells with near-complete elimination of switched memory B cells and deep depletion of plasmablasts, indicative of an immune reset. The patient reported that her debilitating fatigue had entirely resolved without further treatment, and treatment with methylprednisolone was discontinued at Month 3. The patient achieved DORIS (definition of remission in SLE) clinical remission, including with resolution of arthritis and active urinary sediment and with a substantial reduction in proteinuria, as of Month 6 follow-up. The patient continues on-study, in DORIS clinical remission, and remains free of all immunosuppressive therapy. iPSC-derived CAR T-cell Product Platform The Company also highlighted the scientific progress of its proprietary iPSC-derived CAR T-cell product platform at the ASH Annual Meeting. In an oral presentation entitled " Off-the-shelf Product Candidate Incorporates Novel Sword & Shield Technology Designed to Promote Functional Persistence without Conditioning Chemotherapy ", the Company compared its novel Sword & Shield technology, which utilizes a 4-1BB-targeted CAR (ADR) alongside the complete knock-out of CD58 (CD58KO) to both target and evade host alloreactive immune cells, to other host immune evasion strategies. In preclinical studies of allogeneic models, the Company showed that its Sword and Shield Technology specifically engaged with alloreactive T cells and supported functional persistence while avoiding the killing of general host T cells and activated anti-tumor T cells. This unique observation was not seen with other approaches that are either too broad and undesirably eliminate most of the host immune system or have limited coverage and cannot adequately protect the allogeneic cell product. In a second presentation entitled " Development of Induced Pluripotent Stem Cell-Derived T Cells Exhibiting Phenotypic and Functional Attributes of Primary CAR T Cells ", the Company conducted a series of high-resolution analyses to show stimulated iPSC-derived T cells elicit primary T-cell like activation, proliferation, transcriptional and functional program engagement, and iPSC-derived CAR T cells uniquely emulate antigen-mediated response similar to primary-derived autologous CAR T cells. About Fate Therapeutics' iPSC Product Platform Human induced pluripotent stem cells (iPSCs) possess the unique dual properties of unlimited self-renewal and differentiation potential into all cell types of the body. The Company's proprietary iPSC product platform combines multiplexed-engineering of human iPSCs with single-cell selection to create clonal master iPSC lines. Analogous to master cell lines used to mass produce biopharmaceutical drug products such as monoclonal antibodies, the Company utilizes its clonal master iPSC lines as a starting cell source to manufacture engineered cell products which are well-defined and uniform in composition, can be stored in inventory for off-the-shelf availability, can be combined and administered with other therapies, and can potentially reach a broad patient population. As a result, the Company's platform is uniquely designed to overcome numerous limitations associated with the manufacture of cell therapies using patient- or donor-sourced cells. Fate Therapeutics' iPSC product platform is supported by an intellectual property portfolio of over 500 issued patents and 500 pending patent applications. About Fate Therapeutics, Inc. Fate Therapeutics is a clinical-stage biopharmaceutical company dedicated to bringing a first-in-class pipeline of induced pluripotent stem cell (iPSC)-derived cellular immunotherapies to patients with cancer and autoimmune diseases. Using its proprietary iPSC product platform, the Company has established a leadership position in creating multiplexed-engineered master iPSC lines and in the manufacture and clinical development of off-the-shelf, iPSC-derived cell products. The Company's pipeline includes iPSC-derived natural killer (NK) cell and T-cell product candidates, which are selectively designed, incorporate novel synthetic controls of cell function, and are intended to deliver multiple therapeutic mechanisms to patients. Fate Therapeutics is headquartered in San Diego, CA. For more information, please visit www.fatetherapeutics.com . Forward-Looking Statements This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding the safety and therapeutic potential of the Company's iPSC-derived CAR T-cell product candidates, including FT819, the advancement of and plans related to the Company's product candidates, clinical studies and preclinical research and development programs, the Company's progress, plans and timelines for the clinical investigation of its product candidates, including the expected clinical development plans for FT819, the initiation and continuation of enrollment in the Company's clinical trials, the initiation of additional clinical trials and additional dose cohorts in ongoing clinical trials of the Company's product candidates, the timing and availability of data from the Company's clinical trials, the therapeutic and market potential of the Company's research and development programs and product candidates, the Company's clinical and product development strategy, and the Company's expectations regarding progress, plans, and timelines. These and any other forward-looking statements in this release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the Company's research and development programs and product candidates, including those product candidates in clinical investigation, may not demonstrate the requisite safety, efficacy, or other attributes to warrant further development or to achieve regulatory approval, the risk that results observed in prior studies of the Company's product candidates, including preclinical studies and clinical trials, will not be observed in ongoing or future studies involving these product candidates, the risk of a delay or difficulties in the initiation and conduct of, or enrollment of patients in, any clinical trials, the risk that the Company may cease or delay preclinical or clinical development of any of its product candidates for a variety of reasons (including requirements that may be imposed by regulatory authorities on the initiation or conduct of clinical trials, changes in the therapeutic, regulatory, or competitive landscape for which the Company's product candidates are being developed, the amount and type of data to be generated or otherwise to support regulatory approval, difficulties or delays in patient enrollment and continuation in the Company's ongoing and planned clinical trials, difficulties or delays in manufacturing or supplying the Company's product candidates for clinical testing, failure to demonstrate that a product candidate has the requisite safety, efficacy, or other attributes to warrant further development, and any adverse events or other negative results that may be observed during preclinical or clinical development), and the risk that its product candidates may not produce therapeutic benefits or may cause other unanticipated adverse effects. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the Company's actual results to differ from those contained in the forward-looking statements, see the risks and uncertainties detailed in the Company's periodic filings with the Securities and Exchange Commission, including but not limited to the Company's most recently filed periodic report, and from time to time in the Company's press releases and other investor communications. Fate Therapeutics is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise. Contact: Christina Tartaglia Precision AQ 212.362.1200 christina.tartaglia@precisionaq.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trump wants to turn the clock on daylight saving timeAfter disavowing Project 2025, Trump hires people who worked on it
Will Foster Moreau Play in Week 13? NFL Injury Status, News & UpdatesOpenAI said Monday it’s releasing its buzzy AI video-generation tool, Sora, later in the day. The AI video-generation model works similarly to OpenAI’s image-generation AI tool, DALL-E: A user types out a desired scene, and Sora will return a high-definition video clip. Sora can also generate video clips inspired by still images and extend existing videos or fill in missing frames. The Microsoft -backed artificial intelligence startup, which burst into the mainstream last year thanks to the viral popularity of ChatGPT, introduced Sora in February. It’ll debut to U.S. users as well as to “most countries internationally” later today, according to OpenAI’s YouTube livestream, and the company has “no timeline” yet for launching the tool in Europe and the U.K., as well as some other countries. OpenAI said users don’t need to pay extra for the tool, which will be included in existing ChatGPT accounts such as Plus and Pro. Employees on the livestream and OpenAI CEO Sam Altman demonstrated features like “Blend” (i.e., joining two scenes together at the user’s direction), as well as the option to make an AI-generated video endlessly repeat. Until now, Sora has mainly been available to a small group of safety testers, or “red-teamers,” who test the model for vulnerabilities in areas such as misinformation and bias. Reddit users asked OpenAI executives in October about Sora’s release date, questioning whether it was being delayed “due to the amount of compute/time required for inference or due to safety.” In response, OpenAI’s product chief Kevin Weil wrote, “Need to perfect the model, need to get safety/impersonation/other things right, and need to scale compute!” “We obviously have a big target on our back as OpenAI,” Rohan Sahai, OpenAI’s Sora product lead, said on the livestream, adding that the company needs to prevent illegal use of the technology. “But we also want to balance that with creative expression.” OpenAI closed its latest funding round in October at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and Big Tech companies. It also received a $4 billion revolving line of credit , bringing its total liquidity to more than $10 billion. It’s all part of a serious growth plan for OpenAI, as the Microsoft -backed artificial intelligence startup battles Amazon -backed Anthropic, Elon Musk’s xAI, Google , Meta , Microsoft and Amazon for the biggest slice of the generative AI market, which is predicted to top $1 trillion in revenue within a decade. Earlier this month, OpenAI hired its first chief marketing officer , indicating plans to spend more on marketing to grow its user base. And in October, OpenAI debuted a search feature within ChatGPT that positions it to better compete with search engines like Google , Microsoft ’s Bing and Perplexity and may attract more users who otherwise visited those sites to search the web. With Sora, the ChatGPT maker is looking to compete with video-generation AI tools from companies such as Meta and Google , which announced Lumiere in January . Similar AI tools are available from other startups, such as Stability AI’s Stable Video Diffusion. Amazon has also released Create with Alexa, a model that specializes in generating prompt-based short-form animated children’s content. Video could be the next frontier for generative AI now that chatbots and image generators have made their way into the consumer and business world. While the creative opportunities will excite some AI enthusiasts, the new technologies present serious misinformation concerns as major political elections occur across the globe. The number of AI-generated deepfakes created has increased 900% year over year, according to data from Clarity, a machine learning firm. OpenAI has made multimodality — the combining of text, image and video generation — a prominent goal in its effort to offer a broader suite of AI models. News of Sora’s release follows protestors’ decision to leak what appeared to be a copy of Sora over concerns about the ChatGPT maker’s treatment of artists. Some members of OpenAI’s early access program for Sora, which it said included about 300 artists, published an open letter in late November critiquing OpenAI for not being sufficiently open or supporting the arts beyond marketing. “Dear corporate AI overlords,” the protestors’ open letter stated, “We received access to Sora with the promise to be early testers, red teamers and creative partners. However, we believe instead we are being lured into ‘art washing’ to tell the world that Sora is a useful tool for artists.” The letter added that hundreds of artists provided unpaid labor for OpenAI through bug testing and feedback on Sora, and that “while hundreds contribute for free, a select few will be chosen through a competition to have their Sora-created films screened — offering minimal compensation which pales in comparison to the substantial PR and marketing value OpenAI receives.” “We are not against the use of AI technology as a tool for the arts (if we were, we probably wouldn’t have been invited to this program),” the open letter stated. “What we don’t agree with is how this artist program has been rolled out and how the tool is shaping up ahead of a possible public release. We are sharing this to the world in the hopes that OpenAI becomes more open, more artist friendly and supports the arts beyond PR stunts.” In late November, an OpenAI spokesperson responded to the protestors’ actions in a statement to CNBC. “Hundreds of artists in our alpha have shaped Sora’s development, helping prioritize new features and safeguards,” the OpenAI spokesperson said at the time. “Participation is voluntary, with no obligation to provide feedback or use the tool. We’ve been excited to offer these artists free access and will continue supporting them through grants, events, and other programs.”
