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Helping people overcome one of their greatest fears — public speakingSAN FRANCISCO, Dec. 05, 2024 (GLOBE NEWSWIRE) -- HashiCorp, Inc. (NASDAQ: HCP), The Infrastructure CloudTM company, today announced financial results for its third quarter of fiscal 2025, ended October 31, 2024. “The HashiCorp team delivered strong performance during the third quarter of fiscal 2025, with revenue growth of 19% year-over-year, and 8% growth in $100,000 customers year-over-year” said Dave McJannet, CEO, HashiCorp. “This quarter we gathered our community of customers, practitioners, and partners at HashiConf in Boston, where we announced critical updates across Infrastructure and Security Lifecycle Management product lines, and also continued work towards closing the company's transaction with IBM.” "HashiCorp continued to see promising growth in adoption of the HashiCorp Cloud Platform, with cloud revenues exceeding 17% of total subscription revenue this quarter" said Werner Schwock, Interim CFO & CAO. "New HashiCorp Cloud Platform features announced this quarter will continue to support our Infrastructure Cloud vision.” Proposed Merger with International Business Machines ("IBM") As announced on April 24, 2024, HashiCorp and IBM have entered into a merger agreement under which IBM will acquire HashiCorp for $35.00 per share in cash, representing an enterprise value of $6.4 billion. HashiCorp stockholders approved the merger agreement on July 15, 2024. The transaction is expected to be completed in the first calendar quarter of 2025, subject to the satisfaction or waiver of the closing conditions in the merger agreement. In light of the proposed transaction with IBM, HashiCorp will not be holding a conference call to discuss financial results or providing financial guidance in conjunction with its third quarter of fiscal 2025 earnings release. Fiscal 2025 Third Quarter Financial Results Revenue: Total revenue was $173.4 million in the third quarter of fiscal 2025, up 19% from $146.1 million in the same period last year. Gross Profit: GAAP gross profit was $143.6 million in the third quarter of fiscal 2025, representing an 83% gross margin, compared to a GAAP gross profit of $120.5 million and an 82% gross margin in the same period last year. Non-GAAP gross profit was $148.4 million in the third quarter of fiscal 2025, representing an 86% non-GAAP gross margin, compared to a non-GAAP gross profit of $125.4 million and an 86% non-GAAP gross margin in the same period last year. Operating Income (Loss): GAAP operating loss was $29.9 million in the third quarter of fiscal 2025, compared to GAAP operating loss of $55.6 million in the same period last year. Non-GAAP operating income was $11.0 million in the third quarter of fiscal 2025, compared to a non-GAAP operating loss of $10.5 million in the same period last year. Net Income (Loss): GAAP net loss was $13.0 million in the third quarter of fiscal 2025, compared to a GAAP net loss of $39.5 million in the same period last year. Non-GAAP net income was $26.9 million in the third quarter of fiscal 2025, compared to a non-GAAP net income of $5.6 million in the same period last year. Net Income (Loss) per Share: GAAP basic and diluted net loss per share was $0.06, based on 203.5 million weighted-average shares outstanding in the third quarter of fiscal 2025, compared to a GAAP net loss per share of $0.20 based on 194.6 million weighted-average shares outstanding in the same period last year. Non-GAAP basic and dilutive net income per share were both $0.13, based on 203.5 million and 211.7 million weighted-average shares outstanding, respectively, in the third quarter of fiscal 2025, compared to a non-GAAP basic and diluted net income per share of $0.03 in the same period last year. Remaining Performance Obligation (RPO): Total RPO was $775.4 million at the end of the third quarter of fiscal 2025, up from $678.2 million in the same period last year. The current portion of GAAP RPO was $481.4 million at the end of the third quarter of fiscal 2025, up from $402.1 million at the end of the same period last year. Total non-GAAP RPO was $795.6 million at the end of the third quarter of fiscal 2025, up from $700.4 million at the end of the same period last year. The current portion of non-GAAP RPO was $499.4 million at the end of the third quarter of fiscal 2025, up from $420.8 million at the end of the same period last year. Cash, cash equivalents, and investments: Net cash provided by operating activities was $38.2 million in the third quarter of fiscal 2025, compared to $8.7 million provided by operating activities in the same period last year. Cash, cash equivalents and short-term investments totaled $1,346.4 million at the end of the third quarter of fiscal 2025, compared to $1,255.7 million at the end of the same period last year. Reconciliations of GAAP financial measures to the most comparable non-GAAP financial measures have been provided in the tables included in this release. Fiscal 2025 Third Quarter and Recent Operating Highlights About HashiCorp, Inc. HashiCorp is The Infrastructure CloudTM company, helping organizations automate multi-cloud and hybrid environments with Infrastructure Lifecycle Management and Security Lifecycle Management. HashiCorp offers The Infrastructure Cloud on the HashiCorp Cloud Platform (HCP) for managed cloud services, as well as self-hosted enterprise offerings and community source-available products. The company is headquartered in San Francisco, California. For more information, visit hashicorp.com . All product and company names are trademarks or registered trademarks of their respective holders. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995, as amended, including, among others, statements about HashiCorp’s business strategy, go-to-market initiatives, revenue growth, and long-term opportunity related to HashiCorp’s product innovation, and the proposed merger with IBM. In some cases you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to risks and uncertainties related to market conditions, HashiCorp and its business as set forth in our filings with the Securities and Exchange Commission (“SEC”) pursuant to our Annual Report on Form 10-K dated March 20, 2024, Quarterly Report on Form 10-Q dated December 5, 2024, and our future reports that we may file from time to time with the SEC. These documents contain and identify important factors that could cause the actual results for HashiCorp to differ materially from those contained in HashiCorp’s forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and HashiCorp specifically disclaims any obligation to update any forward-looking statement, except as required by law. Use of Non-GAAP Financial Measures In addition to our results determined in accordance with GAAP, we have disclosed non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss, non-GAAP net loss per share, non-GAAP free cash flow and total and current non-GAAP RPOs, which are all non-GAAP financial measures. We have provided tabular reconciliations of each non-GAAP financial measure to its most directly comparable GAAP financial measure at the end of this release. We calculate non-GAAP gross profit as GAAP gross profit before amortization of stock-based compensation included in the amortized expenses of capitalized internal-use software, stock-based compensation expense, and amortization of acquired intangibles included in cost of revenue. We calculate non-GAAP gross margin as GAAP gross margin before the impact of stock-based compensation of capitalized internal-use software, stock-based compensation expense and amortization of acquired intangibles included in cost of revenue as a percentage of revenue. We calculate non-GAAP operating loss as GAAP operating loss before amortization of stock-based compensation of capitalized internal-use software, stock-based compensation expense, amortization of acquired intangibles, and merger and acquisition-related expenses. We calculate non-GAAP net income (loss) as GAAP net loss before amortization of stock-based compensation of capitalized internal-use software, stock-based compensation expense, amortization of acquired intangibles, and merger and acquisition-related expenses, which comprise one-time costs associated with advisory, legal, and other professional fees, net of tax adjustments. We calculate non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by weighted average shares outstanding (basic and diluted). We calculate non-GAAP free cash flow as net cash provided by (used in) operating activities less purchases of property and equipment and capitalized internal-use software costs. Non-GAAP free cash flow as a % of revenue is calculated as non-GAAP free cash flow divided by total revenue. We calculate non-GAAP RPOs as RPOs plus customer deposits, which are refundable pre-paid amounts, based on the timing of when these customer deposits are expected to be recognized as revenue in future periods. The current portion of non-GAAP RPO represents the amount to be recognized as revenue over the next 12 months. Our management team uses these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net income (loss), non-GAAP net income (loss) per share, non-GAAP free cash flow, non-GAAP RPOs or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of our website at https://ir.hashicorp.com . (1) The adjustments relate to the tax impact of stock-based compensation expense and amortization of acquired intangibles. (1) For the reconciliation of GAAP to non-GAAP for the historical periods presented, refer to our prior earning releases. (2) Amount is less than 1%. (1) For the reconciliation of GAAP to non-GAAP for the historical periods presented, refer to our prior earning releases. Investor Contact HashiCorp ir@hashicorp.com Media Contact Kate Lehman HashiCorp media@hashicorp.com
BOSTON (AP) — Jaylen Brown scored the Celtics’ first 15 points on five consecutive 3-pointers and finished with 29 points, before Boston withstood a late charge to beat the Minnesota Timberwolves 107-105 on Sunday. Jayson Tatum added 26 points and eight rebounds to help Boston post a season-high fifth straight victory. Anthony Edwards had 28 points and nine rebounds for Minnesota, which has lost five of its last seven. Julius Randle added 23 points, and Rudy Gobert finished with 10 points and 20 rebounds, his eighth double-double of the season. Minnesota got within 55-54 early in the third quarter, before a 14-0 run by Boston. The spurt featured four 3s by the Celtics, including two by Tatum. The lead grew to 79-60 with 4:26 to play in the period. But the Timberwolves chipped it all the way down in the fourth, getting within 107-105 with 34 seconds left on a driving layup by Randle. Timberwolves: Minnesota will be looking to for some wins at home, after dropping four of its last five on the road. Celtics: The Celtics have struggled at home at times this season but improved to 6-2 at the Garden. The Timberwolves had the ball with 7.1 seconds and a chance to win. Edwards got the inbounds and tried to drive on Brown. But he was cut off, and the ball swung to Naz Reid, who failed to get off a 3 as time expired. Boston assisted on 25 of its 37 made field goals. The Timberwolves host Houston in NBA Cup play on Tuesday, beginning a four-game homestand. The Celtics host the Los Angeles Clippers on Monday night. AP NBA: https://apnews.com/hub/nba
René Bennett | (TNS) Bankrate.com If you’re an iPhone user, you might not realize that you already have access to Apple Cash. It’s a digital cash card that’s built into Apple devices and can be found in the default Wallet app. (Note: You must link an eligible debit card to use this service.) The main function of Apple Cash is to make it easier for Apple device users to send money to one another, including sending money through the iMessage app. But Apple Cash is more than just a peer-to-peer (P2P) payment service — it can be used to shop online, in stores or to make in-app purchases. Apple Cash is a convenient way to transfer money between friends and family. Once it’s set up, a user can simply open the iMessage app and send money to a contact through their chat. It’s also useful for those who use Apple Pay, a separate service that allows Apple device users to make contactless payments with any linked card, including an Apple Cash card. Here are some important things to know about setting up and using Apple Cash. Apple Cash is a digital cash card that’s stored in the Wallet app of Apple devices, and it can be used for making P2P payments, as well as purchases through Apple Pay. When you receive money from another Apple Cash user, that money appears in your Apple Cash balance. The balance can then be spent or transferred to a linked bank account or debit card. Sending money to peers with Apple Cash can be done either directly from the digital Apple Cash card (in the Wallet app) or through the iMessage app. You can send or receive anywhere between $1 and $10,000 per message. The money shows up on the recipient’s Apple Cash card instantly, but it may take from one to three days for the balance to be transferred to a bank account. Instant transfers to a bank account are possible, but it comes with a 1.5% fee. There’s also an option to set up Apple Cash Family for children who are under 18 years old. This option limits the amount a child can send to $2,000 per message. Those younger than 18 also cannot add money to their Apple Cash card from a bank account; rather, their balance only grows when they receive money from another Apple Cash user. Apple Cash is a digital card within your Wallet that allows you to spend your Apple Cash online, in stores and in apps as well send and receive money. Apple Pay, however, allows you to make purchases using any credit card or debit card you have stored in your Wallet — including Apple Cash. With Apple Pay, you add credit and debit cards to your Wallet and then have the ability to pay right with your phone (or other Apple product). To set up Apple Cash, you’ll need three things: —A compatible Apple device. —Two-factor authentication enabled for your Apple ID (this can be done in Settings). —An eligible debit card to load funds onto the Apple Cash card. In the Settings app, you can turn on Apple Cash in the Wallet and Apple Pay section. Tap on the Apple Cash card icon and follow the instructions on the screen. You’ll be asked to agree to the terms and conditions, after which your device will set up Apple Cash for you. The Apple Cash card, once set up, can be found in your device’s Wallet app. If you want to set up Apple Cash Family, you’ll first need to have Family Sharing turned on, which can be done in Settings. The family organizer can add children to Apple Cash in the Family Sharing section of Settings. You’ll need to have a debit card linked to your digital Wallet to add money to an Apple Cash card. You can add a debit card to Wallet in the same place where you set up Apple Cash — the Wallet and Apple Pay section of Settings. Once a debit card is linked to your Wallet, open Wallet and tap on the Apple Cash card. Then, tap the More button (an icon with three dots). This will open a page where you can see your Apple Cash balance, add money and transfer funds to a bank account. Tap Add Money and enter the amount you’d like to add (the minimum is $10). You’ll be asked to confirm which debit card you want to use to fund the Apple Cash balance, and then the money is added to the Apple Cash card. There are two ways to send a payment to someone using Apple Cash: directly from your Wallet or in the iMessage app. Both the sender and recipient need Apple Cash to send or receive money. To send money from Wallet, simply tap the Apple Cash card in Wallet and then tap Send. Type in the contact name or phone number of the recipient. Enter the amount you’d like to send (between $1 and $10,000), then review the payment and confirm it with Face ID, Touch ID or a passcode. In iMessage, open the conversation with who you’d like to send money to, or start a new one. Tap on the app button, which appears next to the type bar, and then tap on the Apple Cash icon. You’ll be prompted to enter an amount (between $1 and $10,000). Once you’ve reviewed the amount, tap Send and confirm with Face ID, Touch ID or a passcode. The first time money is sent to someone, the recipient will need to accept the payment within seven days for it to go through. After the first instance, payments are automatically accepted. If you’re using Apple Cash to make a purchase either online or in a store, you’ll need to pay using Apple Pay. To request money from your iPhone, open the conversation in the Messages app. Tap the plus icon, followed by Apple Cash. Then, tap Request. Tap the send button to send your payment request. Once the request is sent, the person you sent it to can confirm or change the amount they send to you. You can also request money from your Apple watch. Open your messages app, choose a conversation, tap the plus icon and then choose Apple Cash. Once you enter the amount you are requesting, swipe left on the Send button. Tap Request. As you start to accumulate money on the Apple Cash card, you may want to move it to a debit card or a bank account . This can be done by going to the same place where you added funds to the card, by clicking the icon with three dots next to your digital card. Related Articles Technology | As data centers proliferate, conflict with local communities follows Technology | Australia is banning social media for people under 16. Could this work elsewhere — or even there? Technology | Home entertainment holiday gift ideas at a discount Technology | Are you tracking your health with a device? Here’s what could happen with the data Technology | How to get started with Bluesky Enter an amount to be transferred, then tap Next. You’ll be asked whether you want to do an instant transfer (for a 1.5% fee) or a transfer in one to three business days for free. After making a selection, the screen will instruct you to set up a bank account if you don’t already have one set up. You’ll confirm the payment, and the transfer is initiated. Instant transfers can only be made to an eligible debit card, not a bank account. Money is sent within 30 minutes when you select instant transfer. —Zelle: If your bank is offers Zelle, it might be a good idea to take advantage of the P2P payment service. Zelle can be accessed directly from your bank’s mobile app, and it allows you to send instant transfers at no extra cost. —Venmo: Anyone can use Venmo, as long as they’ve downloaded the app. Unlike Apple Cash or Zelle, it’s a standalone P2P payment app. Venmo comes with a social element — users can follow each other and add fun emojis to their payments, although they can also keep their account activity private. —PayPal: This P2P payment service is a good option if you want to send money internationally. It also offers a PayPal Debit card, which, like the Apple Cash card, can be used to make purchases online or in stores. —Samsung Pay Cash: Samsung device users can use this option instead of Apple Cash. Similar to Apple Cash, it is a digital wallet that you can access from a Samsung mobile device. However, to take full advantage of Samsung Pay Cash, users will need to undergo an extra registration process to upgrade to a Full Card Account. Apple Cash makes it easy for Apple device users to send money to each other. Users can simply tap the Apple Cash icon in their text messages to send money through iMessage. It can also be used as an extra repository for spending money and can be used for purchases anywhere Apple Pay is accepted. With that said, only Apple device users can send and receive money using Apple Cash, so those looking for a more universal payment service may want to consider other P2P payment apps . ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.Timothy Plan US Large/Mid Cap Core ETF (NYSEARCA:TPLC) Stake Boosted by Avior Wealth Management LLC
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