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ROCK HILL, S.C., Nov. 26, 2024 (GLOBE NEWSWIRE) -- 3D Systems Corporation (NYSE:DDD) announced today its financial results for the third quarter ended September 30, 2024. Third Quarter Highlights (All numbers are unaudited and are presented in millions, except per share amounts or as otherwise noted) Summary Comments on Results Commenting on third quarter results, Dr. Jeffrey Graves, president and CEO of 3D Systems said, “As recently shared, our third quarter revenues continued to be impacted by sluggish capital investments by our customers for new production capacity, particularly in the Industrial markets, impacting the sale of new printing systems. On a positive note however, capacity utilization for our installed printer fleet broadly increased, translating into an increase in consumable revenues, which grew nearly 10% on both prior year and sequential comparisons. While 2024 has been a challenging year for new printer system sales, we are increasingly encouraged about the future, driven in large part by customer demand for our Application Innovation Group, a group of highly skilled process specialists who assist customers in developing new applications for 3D printing. Year-to-date this group, which spans both polymer and metal solutions, has experienced a rise of over 26% in revenues derived from new application development, particularly in highly regulated markets such a semiconductor equipment manufacturing, oil & gas, aerospace & defense markets, and our medical markets. Much of this performance, and the future growth potential it implies, has been fueled by an aggressive cycle of innovation at our company, enabled by our sustained focus on new product innovation across all of our major polymer and metal printing solutions. As a result of this sustained focus, which we believe differentiates us from many others in our industry, we are on pace to deliver nearly 40 new products to market since the third quarter of last year, and 25 in calendar 2024 alone. We believe no other company in our industry has matched this output that we expect will pay dividends in growth and profitability improvements as the economy rebounds in the future.” Dr. Graves continued, “Given our strong focus on new product innovation, over the last two years we’ve also completely altered our manufacturing model from nearly 100% outsourced, to taking full responsibility for our integrated supply chain by in-sourcing procurement, assembly operations and logistics. This transition is now virtually complete, and, while it required short-term increases in expenses and working capital, we believe it is absolutely essential in driving smooth new product introductions, high quality product and delivery performance and, importantly, long-term customer satisfaction and gross margin improvements as factory efficiencies increase. While weakness in our end-markets over the last several quarters has muted these benefits, as volumes recover we expect to realize them increasingly over time. With our in-sourcing efforts now close to completion, our near term focus has shifted to managing working capital and capex spend to improve cash performance. This has been increasingly effective as we entered the second half of the year, as demonstrated by the stabilization of our cash reserves in the third quarter. We were also pleased to deliver a sequential reduction in operating expenses, in line with our previous expectations, and expect the benefits of restructuring actions previously taken to positively impact our cost structure in the quarters ahead.” Dr. Graves concluded, “As we look to the end of the year, the consistent fueling of our R&D engines as we moved through a tougher macro environment period is now driving an acceleration of exciting new customer applications, supported by outstanding new products spanning from new printer hardware to advanced engineering materials, to enhancement of our software capabilities. We believe this positions us well as the geopolitical and economic headwinds of the last 18 months ultimately begin to recede. Given timing uncertainties and normal quarter-to-quarter inventory management at year-end, we believe it is prudent to be conservative in our outlook for the full year. As such, we are updating our revenue expectations for the full year 2024 to be between $440 million and $450 million. From an OPEX perspective, we expect to see continued improvement consistent with our prior comments, namely that OPEX will decrease again in Q4, to below $60 million. These combined factors should yield a sequential improvement in Adjusted EBITDA and will place us on a trajectory towards profitability in the quarters ahead. We will continue our balanced view of short-term focus on cash performance and improving profitability, while meeting the longer-term needs of our customers from a technology and service perspective. In keeping our customers’ production goals clearly in our sites each day, we believe that substantial long-term value will be created for all of our stakeholders in the years ahead.” Summary of Third Quarter Results Revenue for the third quarter of 2024 decreased approximately 9% to $112.9 million compared to the same period last year, primarily driven by lower printer sales, partially offset by approximately 10% growth in materials. Gross profit margin for the third quarter of 2024 was 36.9% compared to 44.7% for the same period last year. Non-GAAP gross profit margin was 37.6% compared to 44.8% for the same period last year. Gross profit margin decreased primarily due to unfavorable absorption associated with lower volumes and approximately $3 million associated with an increase in inventory reserves, partially offset by favorable mix. In addition, gross profit margin from the prior year period includes approximately $4.5 million of incremental revenue recognized by our Regenerative Medicine business at 100% margin related to incremental milestone recognition which did not repeat in the third quarter of 2024. Operating expense for the third quarter of 2024 was $222.5 million compared to $68.9 million for the same period last year and includes $143.7 million associated with the impairment of goodwill and other long-lived assets taken during the third quarter of 2024. Non-GAAP operating expense of $61.4 million increased $5.6 million compared to the same period last year, while improving $2.7 million on a sequential basis. The sequential improvement was primarily driven by benefits associated with prior restructuring actions. Net loss attributable to 3D Systems Corporation for the third quarter of 2024 was $178.6 million compared to a net loss of $11.7 million for the same period last year. The decline from prior year was primarily impacted by the previously referenced $143.7 million associated with the impairment of goodwill and other long-lived assets taken during the third quarter of 2024. Adjusted EBITDA decreased by $19.1 million to a loss of $14.3 million in the third quarter of 2024 compared to the same period last year. The decrease in Adjusted EBITDA primarily reflects lower revenue, lower gross margin and higher operating expense. As previously noted, the third quarter of 2023 also included the benefit of approximately $4.5 million of incremental milestone recognition by our Regenerative Medicine business at 100% margin that did not repeat in the third quarter of 2024. Updating 2024 Outlook Based on current macroeconomic and geopolitical conditions, 3D Systems is updating its financial guidance for the remainder of 2024 as follows: Financial Liquidity At September 30, 2024, the company had cash and cash equivalents of $190.0 million, a decrease of $141.5 million since December 31, 2023. The decrease resulted primarily due to cash used in operations of $37.1 million, capital expenditures of $10.8 million, and repayment on borrowings of $87.2 million. At September 30, 2024, the company had total debt, net of deferred financing costs of $211.7 million. Q3 2024 Conference Call and Webcast The company will host a conference call and simultaneous webcast to discuss these results on November 27, 2024, which may be accessed as follows: Date: Wednesday, November 27, 2024 Time: 8:30 a.m. Eastern Time Listen via webcast: www.3dsystems.com/investor Participate via telephone: 201-689-8345 A replay of the webcast will be available approximately two hours after the live presentation at www.3dsystems.com/investor . Forward-Looking Statements Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law. Presentation of Information in this Press Release 3D Systems reports its financial results in accordance with GAAP. Management also reviews and reports certain non-GAAP measures, including: non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating expense, non-GAAP diluted income (loss) per share, and Adjusted EBITDA. These non-GAAP measures exclude certain items that management does not view as part of 3D Systems’ core results as they may be highly variable, may be unusual or infrequent, are difficult to predict and can distort underlying business trends and results. Management believes that the non-GAAP measures provide useful additional insight into underlying business trends and results and provide meaningful information regarding the comparison of period-over-period results. Additionally, management uses the non-GAAP measures for planning, forecasting and evaluating business and financial performance, including allocating resources and evaluating results relative to employee compensation targets. 3D Systems’ non-GAAP measures are not calculated in accordance with or as required by GAAP and may not be calculated in the same manner as similarly titled measures used by other companies. These non-GAAP measures should thus be considered as supplemental in nature and not considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. To calculate the non-GAAP measures, 3D Systems excludes the impact of the following items: Amortization of intangibles and acquisition and divestiture-related costs are excluded from non-GAAP measures as the timing and magnitude of business combination transactions are not predictable, can vary significantly from period to period and the purchase price allocated to amortizable intangible assets and the related amortization period are unique to each acquisition. Amortization of intangible assets will recur in future periods until such intangible assets have been fully amortized. While intangible assets contribute to the company’s revenue generation, the amortization of intangible assets does not directly relate to the sale of the company’s products or services. Additionally, intangible assets amortization expense typically fluctuates based on the size and timing of the company’s acquisition activity. Accordingly, the company believes excluding the amortization of intangible assets enhances the company’s and investors’ ability to compare the company’s past financial performance with its current performance and to analyze underlying business performance and trends. Although stock-based compensation is a key incentive offered to certain of our employees, the expense is non-cash in nature, and we continue to evaluate our business performance excluding stock-based compensation; therefore, it is excluded from non-GAAP measures. Stock-based compensation expenses will recur in future periods. Charges related to restructuring and cost optimization plans, impairment charges, including goodwill, divestiture gains or losses, and the costs, including legal fees, related to significant or unusual litigation matters are excluded from non-GAAP measures as the frequency and magnitude of these activities may vary widely from period to period. Additionally, impairment charges, including goodwill, are non-cash. Furthermore, the company believes the costs, including legal fees, related to significant or unusual litigation matters are not indicative of our core business' operations. Finally, 3D Systems excludes contingent consideration recorded as compensation expense related to the 2021 Volumetric acquisition from non-GAAP measures as management evaluates financial performance excluding this expense, which is viewed by management as similar to acquisition consideration. The matters discussed above are tax effected, as applicable, in calculating non-GAAP diluted income (loss) per share. Adjusted EBITDA, defined as net income, plus income tax (provision) benefit, interest and other income (expense), net, stock-based compensation expense, amortization of intangible assets, depreciation expense, and other non-GAAP adjustments, all as described above, is used by management to evaluate performance and helps measure financial performance period-over-period. A reconciliation of GAAP to non-GAAP measures is provided in the accompanying schedules. 3D Systems does not provide forward-looking guidance for certain measures on a GAAP basis. The company is unable to provide a quantitative reconciliation of forward-looking non-GAAP gross profit margin, Adjusted EBITDA, and non-GAAP operating expense to the most directly comparable forward-looking GAAP measures without unreasonable effort because certain items, including litigation costs, acquisition expenses, stock-based compensation expense, intangible assets amortization expense, restructuring expenses, and goodwill impairment charges are difficult to predict and estimate. These items are inherently uncertain and depend on various factors, many of which are beyond the company’s control, and as such, any associated estimate and its impact on GAAP performance could vary materially. About 3D Systems More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction - empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in Healthcare and Industrial Solutions markets such as medical and dental, aerospace & defense, automotive and durable goods. More information on the company is available at www.3dsystems.com . Amounts included in restricted cash as of September 30, 2024, December 31, 2023 and September 30, 2023 primarily relate to guarantees in the form of a standby letter of credit as security for a long-term real estate lease. Amounts included in restricted cash as of December 31, 2022 primarily relate to $3,435 deposited into an escrow account relating to the initial investment in the National Additive Manufacturing innovation ("NAMI") joint venture. The remaining amounts in restricted cash in all periods presented relate to collateral for letters of credit and bank guarantees. (1) Amounts in table may not foot due to rounding (2) Calculated as non-GAAP gross profit as a percentage of total revenue (1) Amounts in table may not foot due to rounding (2) Calculated as non-GAAP gross profit as a percentage of total revenue Non-GAAP Operating Expense(1) (1) Amounts in table may not foot due to rounding (1) Amounts in table may not foot due to rounding (1) Amounts in table may not foot due to roundingRA Capital Management Announces Close of $1.4 Billion Acquisition of Aliada Therapeutics by AbbVieAwards season has arrived in the form of the Golden Globes nominations. The awards, which honor both movies and television programs, is often viewed as a preview of the upcoming Oscars. In this week's episode, co-hosts Bruce Miller and Terry Lipshetz go over the list, focusing largely on the movies, which tend to shine brightest at the ceremony. But they also take time to review a few of the TV shows, including the great, but rarely funny "The Bear," which is again in the comedy or musical category. We also have an interview with "Nickel Boys" director RaMell Ross, who spoke with Miller prior to the film receiving a nomination for best drama. Miller also talked with Aunjanue Ellis-Taylor, who starred in the film. People are also reading... 2 Statesville men face murder charges in 2011 shooting death of Joey Brewer Iredell County deputies charge 7 people in drug trafficking investigation 3 men face arson charges in Statesville house fire that severely burned woman Iredell-Statesville Schools OK $3.3 million in stadium upgrades at Lake Norman High School Woman charged with stabbing car dealership employee on test drive in Mooresville Hear the songs, see Santa at Sunday's Statesville Christmas Parade Families prepare for mass deportations: 'A sad and painful time' Downtown Statesville lights Christmas tree to kickoff holiday McKinnon breaks record, Arnold shows offensive burst in Lake Norman’s hot start 100 years ago, the flu hit Harmony during hog-killing time H&W Drug, owned by Haupt family for nearly 100 years, closes in Newton Statesville native's book offers clues to 5 hidden treasures See balloons light up Statesville Park and Soccer Complex on Saturday HIGH SCHOOL BASKETBALL ROUNDUP: Steinhour, Lake Norman topple 4A state runner-up New Hanover See who the Greater Metro 4A recognized as all-conference in fall sports Movies Best motion picture, comedy or musical “Wicked”; “Anora”; “Emilia Perez”; “Challengers”; “A Real Pain”; “The Substance” Best motion picture, drama “The Brutalist”; “A Complete Unknown,”; “Conclave”; “Dune: Part Two”; “Nickel Boys;” “September 5” Best performance by a male actor in a motion picture, musical or comedy Jesse Eisenberg, “A Real Pain”; Hugh Grant, “Heretic”; Gabriel LaBelle, “Saturday Night; Jesse Plemons, “Kinds of Kindness”’ Glen Powell, “Hitman”; Sebastian Stan, “A Different Man” Best performance by a female actor in a motion picture, musical or comedy Amy Adams, “Nightbitch”; Cynthia Erivo, “Wicked”; Karla Sofia Gascón, “Emilia Pérez”; Mikey Madison “Anora”; Demi Moore, “The Substance”; Zendaya, “Challengers” Best performance by a female male actor in a motion picture, drama Pamela Anderson, “The Last Showgirl′′; Angelina Jolie, ”Maria”; Nicole Kidman, “Babygirl”; Tilda Swinton, “The Room Next Door”; Fernanda Torres, “I’m Still Here”; Kate Winslet, “Lee” Best performance by a male actor in a motion picture, drama Adrien Brody, “The Brutalist”; Timothée Chalamet, “A Complete Unknown’; Colman Domingo, “Sing Sing”; Ralph Fiennes, “Conclave”; Sebastian Stan, “The Apprentice’’ Cinematic and box office achievement “Alien: Romulus”; Beetlejuice Beetlejuice”; Deadpool & Wolverine”; “Gladiator II”; “Inside Out 2”; “Twisters”; “Wicked”; “The Wild Robot” Best motion picture, non-English “All We Imagine As Light′′; ”Emilia Pérez”; “The Girl With the Needle”; “I’m Still Here”; “The Seed of the Sacred Fig”; “Vermiglio” Best animated film “Flow”; “Inside Out 2”; “Memoir of a Snail”; “Moana 2”; “Wallace and Gromit: Vengeance Most Fowl”; “The Wild Robot” Best performance by a female actor in a supporting role in any motion picture Selena Gomez, ”Emilia Pérez”; Ariana Grande, “Wicked”; Felicity Jones, “The Brutalist”; Margaret Qualley, “The Substance”; Isabella Rossellini, “Conclave”; Zoe Saldaña, ”Emilia Pérez” Best performance by a male actor in a supporting role in any motion picture Yura Borisov, “Anora”; Kieran Culkin, “A Real Pain”; Edward Norton, “A Complete Unknown”; Guy Pearce, “The Brutalist”; Jeremy Strong, ”The Apprentice”; Denzel Washington, “Gladiator II” Best director Jacques Audiard, “Emilia Pérez”; Sean Baker, ”Anora”; Edward Berger, “Conclave”; Brady Corbet, “The Brutalist”; Coralie Fargeat, “The Substance”; Payal Kapadia, “All We Imagine As Light” Best screenplay Jacques Audiard, “Emilia Pérez”; Sean Baker, ”Anora”; Brady Corbet, Mona Fastvold, “The Brutalist”; Jesse Eisenberg, “A Real Pain”; Coralie Fargeat, “The Substance”; Peter Straughan, “Conclave” Best original score Volker Bertelmann, “Conclave”; Daniel Blumberg, “The Brutalist”; Kris Bowers, “The Wild Robot”; Clement Ducol, Camille “Emilia Pérez”; Trent Reznor, Atticus Ross, “Challengers”; Hans Zimmer, “Dune: Part Two” Best original song “Beautiful That Way” from “The Last Showgirl” (music/lyrics by Andrew Wyatt, Miley Cyrus, Lykke Zachrisson); “Compress/Repress” from “Challengers’ (music/lyrics by Trent Reznor, Atticus Ross, Luca Guadagnino; “El Mal” from EL MAL” from “Emilia Pérez” (music/lyrics by Clément Ducol, Camille, Jacques Audiard; “Forbidden Road” from ”Better Man′′ (music/lyrics by Robbie Williams, Freddy Wexler, Sacha Skarbek); “Kiss the Sky” from “The Wild Robot′′ (music/lyrics by Delacey, Jordan K. Johnson, Stefan Johnson, Maren Morris, Michael Pollack, Ali Tamposi); ”Mi Camino′′ from “Emilia Pérez” (music/lyrics by Clément Ducol, Camille) Television Best television drama “Shogun”; “The Diplomat”; “Slow Horses”; “Mr. and Mrs. Smith”; “The Day of the Jackal”; “Squid Game” Best television series, comedy or musical “Abbott Elementary”; “The Bear; “Hacks”; “Nobody Wants This”; “Only Murders in the Building”; “The Gentlemen” Best performance by a male actor in a television series, drama Donald Glover, “Mr. and Mrs. Smith”; Jake Gyllenhaal, “Presumed Innocent”; Gary Oldman, “Slow Horses”; Eddie Redmayne, “The Day of the Jackal”; Hiroyuki Sanada, “Shogun”; Billy Bob Thornton, “Landman” Best performance by a female actor in a television series-drama Kathy Bates, “Matlock”; Emma D’Arcy, “House of the Dragon”; Maya Erskine, “Mr. & Mrs. Smith”; Keira Knightley, “Black Doves”; Keri Russell, “The Diplomat”; Anna Sawai, “Shogun” Best performance by a female actor in a television series-musical or comedy Kristen Bell, “Nobody Wants This”; Quinta Brunson, “Abbott Elementary”; Ayo Edebiri, “The Bear”; Selena Gomez, “Only Murders in the Building”; Kathryn Hahn, “Agatha All Along”; Jean Smart, “Hacks” Best performance by a male actor in a television series-musical or comedy Adam Brody, “Nobody Wants This”; Ted Danson, “A Man on the Inside”; Steve Martin, “Only Murders in the Building”; Jason Segel, “Shrinking”; Martin Short, “Only Murders in the Building”; Jeremy All White, “The Bear” Best television limited series, anthology series or motion picture made for television “Baby Reindeer”; Disclaimer"; “Monsters: The Lyle and Erik Menendez Story”; “The Penguin”; “Ripley”; “True Detective: Night Country” Best performance by a female actor in a limited series, anthology series or a motion picture made for television Cate Blanchett, “Disclaimer''; Jodie Foster, ”True Detective: Night Country"; Cristin Milioti, “The Penguin''; Sofia Vergara, ”Griselda"; Naomi Watts, “Feud: Capote vs. The Swans”; Kate Winslet, “The Regime” Best performance by a male actor in a limited series, anthology series or a motion picture made for television Colin Farrell, “The Penguin”; Richard Gadd, “Baby Reindeer”; Kevin Kline, “Disclaimer”; Cooper Koch, “Monsters: The Lyle and Erik Menendez Story”; Ewan McGregor, “A Gentleman in Moscow”; Andrew Scott, “Ripley” Best performance by a female actor in a supporting role on television Liza Colón-Zayas, “The Bear”; Hannah Einbinder, “Hacks”; Dakota Fanning, “Ripley”; Jessica Gunning, “Baby Reindeer”; Allison Janney, “The Diplomat”; Kali Reis, “True Detective: Night Country” Best performance by a male actor in a supporting role on television Tadanobu Asano, “Shogun''; Javier Bardem, “Monsters: The Lyle and Erik Menendez Story”; Harrison Ford, “Shrinking”; Jack Lowden “Slow Horses”; Diego Luna, “La Maquina”; Ebon Moss-Bachrach, “The Bear” Best performance in stand-up comedy on television Jamie Foxx, “Jamie Foxx: What Had Happened Was”; Nikki Glaser, “Nikki Glaser: Someday You'll Die”; Seth Meyers, “Seth Meyers: Dad Man Walking”; Adam Sandler, "Adam Sandler: Love You"; Ali Wong, “Ali Wong: Single Lady”; Ramy Youssef, “Ramy Youssef: More Feelings” —List compiled by The Associated Press Receive the latest in local entertainment news in your inbox weekly!
The Orioles will leave the winter meetings with seven fewer prospects than they came with, and that’s not because they made a blockbuster trade.DrBalcony App Redefines Balcony Inspections with Unparalleled EfficiencyMariah Carey cancels 2 New York, New Jersey Christmas concerts
Awards season has arrived in the form of the Golden Globes nominations. The awards, which honor both movies and television programs, is often viewed as a preview of the upcoming Oscars. In this week's episode, co-hosts Bruce Miller and Terry Lipshetz go over the list, focusing largely on the movies, which tend to shine brightest at the ceremony. But they also take time to review a few of the TV shows, including the great, but rarely funny "The Bear," which is again in the comedy or musical category. We also have an interview with "Nickel Boys" director RaMell Ross, who spoke with Miller prior to the film receiving a nomination for best drama. Miller also talked with Aunjanue Ellis-Taylor, who starred in the film. “Wicked”; “Anora”; “Emilia Perez”; “Challengers”; “A Real Pain”; “The Substance” “The Brutalist”; “A Complete Unknown,”; “Conclave”; “Dune: Part Two”; “Nickel Boys;” “September 5” Jesse Eisenberg, “A Real Pain”; Hugh Grant, “Heretic”; Gabriel LaBelle, “Saturday Night; Jesse Plemons, “Kinds of Kindness”’ Glen Powell, “Hitman”; Sebastian Stan, “A Different Man” Amy Adams, “Nightbitch”; Cynthia Erivo, “Wicked”; Karla Sofia Gascón, “Emilia Pérez”; Mikey Madison “Anora”; Demi Moore, “The Substance”; Zendaya, “Challengers” Pamela Anderson, “The Last Showgirl′′; Angelina Jolie, ”Maria”; Nicole Kidman, “Babygirl”; Tilda Swinton, “The Room Next Door”; Fernanda Torres, “I’m Still Here”; Kate Winslet, “Lee” Adrien Brody, “The Brutalist”; Timothée Chalamet, “A Complete Unknown’; Colman Domingo, “Sing Sing”; Ralph Fiennes, “Conclave”; Sebastian Stan, “The Apprentice’’ “Alien: Romulus”; Beetlejuice Beetlejuice”; Deadpool & Wolverine”; “Gladiator II”; “Inside Out 2”; “Twisters”; “Wicked”; “The Wild Robot” “All We Imagine As Light′′; ”Emilia Pérez”; “The Girl With the Needle”; “I’m Still Here”; “The Seed of the Sacred Fig”; “Vermiglio” “Flow”; “Inside Out 2”; “Memoir of a Snail”; “Moana 2”; “Wallace and Gromit: Vengeance Most Fowl”; “The Wild Robot” Selena Gomez, ”Emilia Pérez”; Ariana Grande, “Wicked”; Felicity Jones, “The Brutalist”; Margaret Qualley, “The Substance”; Isabella Rossellini, “Conclave”; Zoe Saldaña, ”Emilia Pérez” Yura Borisov, “Anora”; Kieran Culkin, “A Real Pain”; Edward Norton, “A Complete Unknown”; Guy Pearce, “The Brutalist”; Jeremy Strong, ”The Apprentice”; Denzel Washington, “Gladiator II” Jacques Audiard, “Emilia Pérez”; Sean Baker, ”Anora”; Edward Berger, “Conclave”; Brady Corbet, “The Brutalist”; Coralie Fargeat, “The Substance”; Payal Kapadia, “All We Imagine As Light” Jacques Audiard, “Emilia Pérez”; Sean Baker, ”Anora”; Brady Corbet, Mona Fastvold, “The Brutalist”; Jesse Eisenberg, “A Real Pain”; Coralie Fargeat, “The Substance”; Peter Straughan, “Conclave” Volker Bertelmann, “Conclave”; Daniel Blumberg, “The Brutalist”; Kris Bowers, “The Wild Robot”; Clement Ducol, Camille “Emilia Pérez”; Trent Reznor, Atticus Ross, “Challengers”; Hans Zimmer, “Dune: Part Two” “Beautiful That Way” from “The Last Showgirl” (music/lyrics by Andrew Wyatt, Miley Cyrus, Lykke Zachrisson); “Compress/Repress” from “Challengers’ (music/lyrics by Trent Reznor, Atticus Ross, Luca Guadagnino; “El Mal” from EL MAL” from “Emilia Pérez” (music/lyrics by Clément Ducol, Camille, Jacques Audiard; “Forbidden Road” from ”Better Man′′ (music/lyrics by Robbie Williams, Freddy Wexler, Sacha Skarbek); “Kiss the Sky” from “The Wild Robot′′ (music/lyrics by Delacey, Jordan K. Johnson, Stefan Johnson, Maren Morris, Michael Pollack, Ali Tamposi); ”Mi Camino′′ from “Emilia Pérez” (music/lyrics by Clément Ducol, Camille) “Shogun”; “The Diplomat”; “Slow Horses”; “Mr. and Mrs. Smith”; “The Day of the Jackal”; “Squid Game” “Abbott Elementary”; “The Bear; “Hacks”; “Nobody Wants This”; “Only Murders in the Building”; “The Gentlemen” Donald Glover, “Mr. and Mrs. Smith”; Jake Gyllenhaal, “Presumed Innocent”; Gary Oldman, “Slow Horses”; Eddie Redmayne, “The Day of the Jackal”; Hiroyuki Sanada, “Shogun”; Billy Bob Thornton, “Landman” Kathy Bates, “Matlock”; Emma D’Arcy, “House of the Dragon”; Maya Erskine, “Mr. & Mrs. Smith”; Keira Knightley, “Black Doves”; Keri Russell, “The Diplomat”; Anna Sawai, “Shogun” Kristen Bell, “Nobody Wants This”; Quinta Brunson, “Abbott Elementary”; Ayo Edebiri, “The Bear”; Selena Gomez, “Only Murders in the Building”; Kathryn Hahn, “Agatha All Along”; Jean Smart, “Hacks” Adam Brody, “Nobody Wants This”; Ted Danson, “A Man on the Inside”; Steve Martin, “Only Murders in the Building”; Jason Segel, “Shrinking”; Martin Short, “Only Murders in the Building”; Jeremy All White, “The Bear” “Baby Reindeer”; Disclaimer"; “Monsters: The Lyle and Erik Menendez Story”; “The Penguin”; “Ripley”; “True Detective: Night Country” Cate Blanchett, “Disclaimer''; Jodie Foster, ”True Detective: Night Country"; Cristin Milioti, “The Penguin''; Sofia Vergara, ”Griselda"; Naomi Watts, “Feud: Capote vs. The Swans”; Kate Winslet, “The Regime” Colin Farrell, “The Penguin”; Richard Gadd, “Baby Reindeer”; Kevin Kline, “Disclaimer”; Cooper Koch, “Monsters: The Lyle and Erik Menendez Story”; Ewan McGregor, “A Gentleman in Moscow”; Andrew Scott, “Ripley” Liza Colón-Zayas, “The Bear”; Hannah Einbinder, “Hacks”; Dakota Fanning, “Ripley”; Jessica Gunning, “Baby Reindeer”; Allison Janney, “The Diplomat”; Kali Reis, “True Detective: Night Country” Tadanobu Asano, “Shogun''; Javier Bardem, “Monsters: The Lyle and Erik Menendez Story”; Harrison Ford, “Shrinking”; Jack Lowden “Slow Horses”; Diego Luna, “La Maquina”; Ebon Moss-Bachrach, “The Bear” Jamie Foxx, “Jamie Foxx: What Had Happened Was”; Nikki Glaser, “Nikki Glaser: Someday You'll Die”; Seth Meyers, “Seth Meyers: Dad Man Walking”; Adam Sandler, "Adam Sandler: Love You"; Ali Wong, “Ali Wong: Single Lady”; Ramy Youssef, “Ramy Youssef: More Feelings” —List compiled by The Associated Press Receive the latest in local entertainment news in your inbox weekly!
By Tom Hals and Jonathan Stempel WILMINGTON, Delaware (Reuters) -A Delaware judge ruled on Monday that Tesla CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting to reinstate it. The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk's future at the world's most valuable carmaker. Musk did not immediately respond to an emailed request for comment. Tesla has said in court filings that the judge should recognize a subsequent June vote by its shareholders in favor of the pay package for Musk, the company's driving force who is responsible for many of its advances, and reinstate his compensation. McCormick said Tesla’s board was not entitled to hit “reset” to restore Musk’s pay package. “Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” she said in her 101-page opinion. She also said Tesla made multiple material misstatements in its proxy statement regarding the vote, and could not claim the vote was a “cure-all” to justify restoring Musk’s pay. “Taken together,” the problems with Tesla’s arguments “pack a powerful punch,” she wrote. Tesla shares fell 1.4% in after hours trade, after the ruling. McCormick also ordered Tesla to pay the attorneys who brought the case $345 million, well short of the $6 billion they initially requested. She said the fee could be paid in cash or Tesla stock. “We are pleased with Chancellor McCormick’s ruling, which declined Tesla’s invitation to inject continued uncertainty into Court proceedings," said a statement from Bernstein Litowitz Berger & Grossmann, one of the three law firms for the plaintiff. The law firm also said it looked forward to defending the court's opinion if Musk and Tesla appealed. Musk and Tesla can appeal to the Delaware Supreme Court as soon as McCormick enters a final order, which could come as soon as this week. The appeal could take a year to play out. After the January ruling, Tesla shareholders flooded the court with thousands of letters arguing that rescinding Musk's pay increased the possibility he would leave Tesla or develop some products like artificial intelligence at ventures other than Tesla. Attorneys for shareholder Richard Tornetta, who sued in 2018 to challenge Musk's compensation package, had argued that Delaware law does not permit a company to use a ratification vote to essentially overturn the ruling from a trial. McCormick in January found that Musk improperly controlled the 2018 board process to negotiate the pay package. The board had said that Musk deserved the package because he hit all the ambitious targets on market value, revenue and profitability. But the judge criticized Tesla's board as "beholden" to Musk, saying the compensation plan was proposed by a board whose members had conflicts of interest due to close personal and financial ties to him. After the January ruling, Musk criticized the judge on his social media platform X and encouraged other companies to follow the lead of Tesla and reincorporate in Texas from Delaware, although it is unclear if any companies did so. The judge in her January ruling called the pay package the "biggest compensation plan ever - an unfathomable sum." It was 33 times larger than the next biggest executive compensation package, which was Musk's 2012 pay plan. As of Monday, the pay package was worth $101.4 billion, according to Equilar, a compensation consulting firm. Musk's 2018 pay package gave him stock grants worth around 1% of Tesla's equity each time the company achieved one of 12 tranches of escalating operational and financial goals. Musk did not receive any guaranteed salary. Tornetta argued that shareholders were not told how easily the goals would be achieved when they voted on the package. (Reporting by Tom Hals in Wilmington, Delaware; Editing by Bill Berkrot)Sridhar Babu announces tech initiatives to help farmers, students
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College Football Playoff's first 12-team bracket is set with Oregon No. 1 and SMU in, Alabama outAnti Social Social Club ‘s tenth anniversary year has been one for the books, complete with collaborative releases with partners including NEIGHBORHOOD , NASA, Alpinestars , BAPE , Mastermind and more. The latest in the lineup sees the streetwear hub join hands with a fellow master of its craft –workwear heavyweight CAT – to construct a dual-minded workwear delivery rooted in CAT’s long-lasting legacy and imbued with ASSC’s instantly recognizable graphics and motifs. Spanning short-sleeve tees, long-sleeve shirts, hoodies and headwear – both caps and beanies – the drop’s deliverables ensure wearers are protected while on-site working hard (or hardly working.) The compilation of garments comes together to offer a contemporary approach to workwear, melding typical utilitarian style codes with the graphic-ridden ethos of Anti Social Social Club. A co-branded hard hat graphic is stamped on some tees and hoodies, with other garments elevated with classic ASSC logos and lettering. Headwear includes embroidered caps, trucker hats and beanies, each of which boasts some form of co-branded insignia. Prices on the capsule range from $45 USD – $160 USD. Sift through the Anti Social Social Club x CAT collaborative capsule in the lookbook above, and expect it to drop for purchase at Anti Social Social Club’s official webstore this Saturday, December 14 at 11 a.m. EST.
Nauticus Robotics Completes Aquanaut Mark 2 Evaluation Agreement with a Global Supermajor Oil & Gas CustomerOkanagan Sun head coach Travis Miller was struck by a vehicle in Kelowna's Glenmore neighbourhood on Tuesday, Dec. 10. Kelowna RCMP have confirmed the incident, stating the pedestrian was struck when crossing the road in the crosswalk. The Sun confirmed in a social media post stating the pedestrian was Miller, who had just finished his last recruiting meeting of the day. According to RCMP, Miller was taken to Kelowna General Hospital with non-life threatening injuries and the extent of the injuries are unknown. Meanwhile, the Sun said Miller underwent surgery and both his feet were crushed in the incident. “The driver of the vehicle remained at the scene and cooperated with police,” said Kelowna RCMP media relations officer Sgt. Laura Pollock. “There was no indication the driver was under the influence of drugs or alcohol and speed does not appear to be a factor.” RCMP are still investigating the incident and are asking anyone who witnessed the crash or anyone with dashcam footage in the area from 5:45 p.m. to 6:15 p.m. to step forward and reach out to police at 250-762-3300 with the file number 2024-72174. Miller has been the Sun's head coach since Apr. 2, 2022.
CGI expands operations in multiple U.S. metro markets with DaughertyPlastics treaty failure shows need to curtail oil industry
TECVAYLI®▼ (teclistamab) demonstrates potential as frontline combination therapy for patients with newly diagnosed multiple myeloma
NEW YORK , Dec. 11, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global non- fungible token (NFT) market size is estimated to grow by USD 68.16 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 30.23% during the forecast period. Increasing demand for digital art is driving market growth, with a trend towards growing interest in nfts among major brands. However, uncertainty in nfts poses a challenge. Key market players include AirNFTs Platform, Asynchronous Art Inc., Binance Holdings Ltd., Blockchain App Factory, Celer Network, Chaincella, Decentraland Foundation, Enjin Pte. Ltd., Foundation Labs Inc., Funko Inc., Gemini Trust Co. LLC, Mintable.app, Ozone Networks Inc., Out The Mud Ventures Inc., Rarible Inc., Sky Mavis , SuperRare Labs Inc., Tiki Labs Inc., Yellowheart LLC, Axie Infinity.Cloudflare, Inc.; PLBY Group, Inc.; Dolphin Entertainment, Inc.; Takung Art Co., Ltd.; Dapper Labs, Inc.; Onchain Labs, Inc Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Market Driver NFTs, or Non- Fungible Tokens, have taken the art, athletes, and celebrities worlds by storm. These digital assets, representing unique items like artworks, collectibles, and even virtual real estate, are creating buzz in various industries. Blockchain technology powers NFTs, ensuring transparency, ownership, and scarcity. The gaming industry and media & entertainment sector are leveraging NFTs for tokenizing games, trading cards, and virtual items. Artists and athletes are minting NFTs of their digital artworks and collectibles, offering fans exclusive ownership. Augmented Reality (AR) and Extended Reality (XR) are enhancing the NFT experience, making it more interactive. The NFT community is growing, with online platforms enabling easy buying, selling, and trading. However, regulatory considerations, consumer protection, and legal frameworks are crucial. Fraud and taxation are concerns, with securities laws and intellectual property rights coming into play. Blockchain networks like Ethereum and proof-of-work/stake mechanisms ensure secure transactions. The NFT market is evolving, with potential applications in decentralized finance, music, and even virtual vehicles. The future looks promising, with the metaverse and virtual reality (VR) offering new possibilities. The White House and third parties are exploring NFTs, signaling mainstream adoption. Big brands, such as Visa Inc. And Budweiser, are increasingly exploring the Non- Fungible Token (NFT) market for potential earnings. In August 2021 , Visa Inc. Made a significant investment by purchasing a CryptoPunk NFT for approximately USD165,000 . This acquisition expanded Visa's historic commerce artifacts collection. The primary motivation for these corporations is the opportunity to generate additional revenue. Furthermore, they are focusing on utilizing NFTs as incentives for consumers. For instance, NFTs can serve as innovative rewards, offering exclusive gifts to loyal customers. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Non- Fungible Tokens (NFTs) have disrupted the art, collectibles, and entertainment industries by allowing unique digital assets to be bought and sold as property. Artists, athletes, celebrities, and even the White House have joined the NFT community, creating digital artworks, collectibles, and virtual items backed by blockchain technology. NFTs provide proof of ownership, scarcity, and authenticity, making them attractive to investors. However, challenges persist, such as regulatory considerations under securities laws, consumer protection, and fraud . Distributed networks like Ethereum facilitate NFT trading, but logistical issues and taxation remain unclear. The gaming industry, media & entertainment, and decentralized finance are exploring NFTs for tokenization of games, virtual items, and digital property. Augmented Reality (AR) and Extended Reality (XR) are expected to enhance the NFT experience. However, legal frameworks and regulatory considerations need to address intellectual property, third-party rights, and securities laws. Ultimately, NFTs offer a new way to monetize and trade digital assets, but careful planning and regulation are crucial to ensure a fair and secure marketplace. The Non- Fungible Token (NFT) market presents both opportunities and challenges for sellers. Valuation of NFTs is uncertain due to the difficulty in determining future demand and pricing. Factors such as scarcity, uniqueness, and buyer perception play a significant role in determining NFT value. New sellers face challenges in anticipating buyer identity and purchase drivers. As the market continues to evolve, predicting future trends in NFT pricing remains difficult for new investors. The value of NFTs is subjective and dependent on buyer perception, leading to price fluctuations. Discover how AI is revolutionizing market trends- Get your access now! This non- fungible token (nft) market report extensively covers market segmentation by 1.1 Collectibles 1.2 Sports 1.3 Arts 1.4 Others 2.1 Personal 2.2 Commercial 3.1 APAC 3.2 North America 3.3 South America 3.4 Europe 3.5 Middle East and Africa 1.1 Collectibles- Non- Fungible Tokens (NFTs) refer to unique digital collectibles, minted on the Blockchain. These collectibles are limited-edition and cannot be exchanged or replicated. Vendors offer online platforms for buying and selling NFTs. Key features include the owner's exclusive right to sell, royalty payments on future sales, and protection against unauthorized use or copying. The NFT market's expansion is fueled by the increasing demand for digital assets worldwide. Industries are going digital, and the Internet's ubiquity, along with rising usage, encourages investments in digital assets. Tokenization, which creates digital tokens representing asset ownership, further boosts market growth. These factors are expected to significantly contribute to the growth of the global NFT market. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics The Non- Fungible Token (NFT) market is revolutionizing the way we buy, sell, and own digital assets. This innovative technology allows for the unique representation and ownership of electronic artworks, gaming items, and collectibles on the blockchain. The gaming industry has embraced NFTs, enabling tokenization of in-game items and creating new revenue streams. NFTs on Ethereum network provide scarcity and ownership, making digital artworks valuable and collectible. Legal frameworks are evolving to accommodate this new asset class, while AR, VR, and XR technologies enhance the NFT experience. Blockchain technology and cryptocurrencies power the NFT market, with Web 3 enabling decentralized finance and creating new distribution networks. Fraud prevention is crucial in this market, with NFT suppliers ensuring authenticity and ownership. The NFT market offers a new frontier for creators, collectors, and investors, with Magic Eden and other platforms serving as marketplaces for these unique digital assets. The Non- Fungible Token (NFT) market is a revolutionary digital ecosystem where Art, Digital Artworks, and Collectibles come to life as unique, verifiable, and tradable assets on the blockchain. This decentralized platform allows Artists, Athletes, and Celebrities to monetize and showcase their Intellectual Property in the form of NFTs, including Painting, Music, and even Virtual Real Estate. Blockchain technology enables Ownership and Transfer of these Digital Assets with transparency and Security. NFTs are not limited to the Art World but extend to Gaming Industry, Sports Collectibles, Trading Cards, and Virtual Items. The market also includes Decentralized Finance, Cryptocurrencies , and Cryptocurrencies /assets. Regulatory considerations and Consumer Protection are essential aspects of this emerging market, with legal frameworks and Taxation being crucial. NFTs can be traded on various Online Platforms, and the market is expanding into Extended Reality (XR) and Metaverse, offering new opportunities for creators and investors. However, Fraud and Scam risks exist, highlighting the need for careful consideration and due diligence. NFTs represent a new frontier in the Digital Economy, with potential applications in various industries, including Media & Entertainment, Logistics, and even House and Vehicle ownership. Smart Contracts and Proof of Work or Stake are essential components of the NFT market, enabling seamless Transactions and Distribution Networks. The NFT community continues to grow, with various Third Parties offering services and solutions to facilitate the creation, trading, and management of NFTs. The NFT market is a dynamic and evolving space, offering endless possibilities for creators, investors, and consumers alike. 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation Application Collectibles Sports Arts Others End-user Personal Commercial Geography APAC North America South America Europe Middle East And Africa Type 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ SOURCE Technavio