XTM Names Rob Finney Chief Marketing Officer to Scale Adoption of Its Market-Leading AI Globalisation Platform
'XTM is innovating at a pace the industry has never seen,' said Ian Evans, CEO of XTM International. 'With the launch of our Agentic AI suite, we are fundamentally transforming how organisations manage and scale localisation."
Rob brings almost 20 years of experience in SaaS, with a proven track record of driving rapid customer adoption and scaling global growth. At XTM, he will lead the global marketing strategy, with a focus on accelerating growth and ensuring more organisations around the world discover the measurable business value XTM delivers by helping them bring products to market faster, reduce localisation costs, and increase global revenue potential.
'XTM is innovating at a pace the industry has never seen,' said Ian Evans, CEO of XTM International. 'With the launch of our Agentic AI suite, we are fundamentally transforming how organisations manage and scale localisation. Rob's expertise will help our current and future customers understand and adopt these innovations, enabling them to remove bottlenecks, drive efficiency, and create real commercial impact.'
Localisation is often a bottleneck that slows companies down, delays global launches, and increases costs, ultimately impacting revenue. XTM's recent release of its Agentic AI suite represents a major leap forward in solving this challenge. Combining context-aware automation, intelligent assistance, and workflow orchestration, Agentic AI delivers productivity and quality at scale helping organizations get to market faster, at lower cost, and with greater consistency.
'With Rob's appointment, XTM reinforces its commitment to helping customers unlock growth by transforming localisation from a blocker into a strategic enabler,' Evans added.
'XTM has always led the industry through customer-first innovation,' said Rob Finney, CMO of XTM International. 'I'm excited to join a company that is not only shaping the future of localisation but also delivering real, measurable value to organisations. Our technology doesn't just help teams work smarter, it helps businesses move faster, reduce overhead, and reach global customers more effectively. That's the kind of impact every organization needs right now.'
This appointment underscores XTM's broader mission: to help enterprises globalise their operations with speed, consistency, and quality, using the most advanced technology available.
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Kosmos Energy Announces Second Quarter 2025 Results
DALLAS--(BUSINESS WIRE)--Kosmos Energy Ltd. ('Kosmos' or the 'Company') (NYSE/LSE: KOS) announced today its financial and operating results for the second quarter of 2025. For the quarter, the Company generated a net loss of $88 million, or $0.18 per diluted share. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net loss (1) of $93 million, or $0.19 per diluted share for the second quarter of 2025. SECOND QUARTER 2025 HIGHLIGHTS Net Production (2): ~63,500 barrels of oil equivalent per day (boepd), with sales of ~73,200 boepd Revenues: $393 million, or $58.93 per boe (excluding the impact of derivative cash settlements) Production expense: $243 million ($28.22 per boe excluding $69.1 million of production expenses associated with the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project Capital expenditures: $86 million, with full year capital expenditure guidance revised down to ~$350 million (from $400 million) Cash flow from operations of $127 million with free cash flow (1) of $45 million 'Commercial Operations Date' (COD) was successfully achieved on the Gimi floating LNG (FLNG) vessel at GTA, another key milestone for the project During the second quarter 3.5 gross LNG cargos were lifted from the GTA project offshore Mauritania and Senegal Drilled and completed the first of two planned producer wells at Jubilee in 2025, with ~10,000 bopd gross initial production Post quarter end, indicative terms agreed for Gulf of America term loan up to $250 million to re-pay 2026 maturities Commenting on the Company's second quarter 2025 performance, Chairman and Chief Executive Officer Andrew G. Inglis said: "We set out this year with three clear priorities: Increase production, reduce costs and enhance the resilience of the balance sheet. During the period we have continued to make good progress across all three areas. On production, the GTA ramp up has gone well, achieving FLNG 'Commercial Operations Date' in the second quarter, and 6.5 gross LNG cargos lifted year-to-date. We are approaching Kosmos' record high production levels with further near-term growth expected as we push GTA towards the FLNG's 2.7 mtpa nameplate capacity and bring on more wells at Jubilee and Winterfell. On costs, we have lowered our capital budget for the year from $400 million to around $350 million and are working hard to reduce operating costs across the portfolio, namely on GTA through the FPSO re-financing and through exploring lower-cost operating models with our partners. We also remain on track to deliver the targeted $25 million of overhead reduction by year-end. On the balance sheet, we are enhancing resilience through increasing liquidity and additional hedges for 2026 with further progress expected as we pursue additional initiatives through the second half of the year. With production rising, costs falling and balance sheet resilience improving, we look forward to delivering long-term value for our shareholders through the second half of the year and beyond.' FINANCIAL UPDATE Net capital expenditure for the second quarter of 2025 was $86 million, below guidance primarily due to lower spend in Mauritania and Senegal and in the Gulf of America. In line with the Company's focus on reducing costs, full year capital expenditure is now expected to be around $350 million (from $400 million previously). We also remain on track to deliver the targeted $25 million overhead reduction by year-end. Operating costs per barrel of oil equivalent in the second quarter were slightly higher than guidance, reflecting lower production than expected, and were higher quarter-on-quarter due to Kosmos' one scheduled TEN lifting in Ghana for 2025, which occurred in the second quarter. The Company generated net cash provided by operating activities of approximately $127 million and free cash flow (1) of approximately $45 million. Kosmos exited the second quarter of 2025 with approximately $2.85 billion of net debt (1) and available liquidity of approximately $400 million. During the second quarter and into the third quarter, Kosmos continued to take advantage of periods of higher oil prices, adding more hedges as part of our rolling hedging program to provide downside protection against a volatile sector backdrop. The company now has 5 million barrels of remaining 2025 oil production hedged with a floor of approximately $62/barrel and a ceiling of approximately $77/barrel. Kosmos has also commenced hedging next year's oil production with 7 million barrels hedged for 2026 so far with a floor of approximately $66/barrel and a ceiling of approximately $75/barrel, targeting around 50% of 2026 oil production to be hedged by year-end. The Company successfully amended the debt cover ratio calculation for the Reserve-Based Lending (RBL) Facility, to increase the ratio for the next two scheduled financial test dates, reflecting the impact of start-up timing of the GTA project on the leverage calculation. The debt cover ratio will return to the originally agreed upon level of 3.5x for testing dates thereafter, when full year revenues from the GTA project are aligned with operating expenses. In early August, Kosmos agreed to indicative terms for a senior secured term loan facility ('Term Facility') with an investment grade counterparty for up to $250 million, to be used for general corporate purposes, including the repayment of the Company's outstanding 2026 unsecured notes. The Term Facility is expected to be secured against Kosmos' assets in the Gulf of America with a final maturity date four years after closing. Closing is anticipated by the end of the third quarter of 2025, subject to certain conditions including the negotiation and execution of fully-termed definitive loan documentation and certain crude oil marketing and offtake agreements. OPERATIONAL UPDATE Production Total net production (2) in the second quarter of 2025 averaged approximately 63,500 boepd, lower than guidance due to the previously communicated ramp up timing on GTA and lower production at Jubilee. Full year 2025 production guidance for GTA is around 20 gross LNG cargos with production expected to increase towards the FLNG vessel's 2.7 million tonnes per annum (mtpa) nameplate capacity in the fourth quarter. Reflecting the slower GTA ramp up and lower Jubilee production in the second quarter, full year production guidance is now expected to be between 65,000 – 70,000 boepd. The Company exited the quarter in a net underlift position of approximately 0.3 mmboe. Mauritania and Senegal On GTA, the FLNG vessel successfully achieved COD in June, a significant milestone for the project, with production volumes now at a level equivalent to the annual contracted volumes of approximately 2.45 mtpa. With COD achieved, Kosmos has concluded funding a share of GTA's capital expenditure on behalf of the national oil companies of Mauritania and Senegal. Production in the second quarter averaged approximately 7,100 boepd net. During the quarter 3.5 gross LNG cargos were lifted with an additional 2.5 gross LNG cargos lifted post quarter end. The partnership continues to target lower operating costs for GTA Phase 1 through startup and commissioning cost reductions, the FPSO re-financing (targeted for completion in the second half of 2025), and also through exploring alternative lower-cost operating models. With GTA Phase 1 fully operational, we are targeting an increase in production towards the FLNG vessel's 2.7 mtpa nameplate capacity in the fourth quarter. The partnership is also focusing on future expansion phases of the field. Phase 1+, a low-cost brownfield expansion, is expected to double gas throughput by leveraging the existing infrastructure in place. With the subsurface in Phase 1 performing well, we expect future expansion phases to further reduce operating costs/boe. Ghana Production in Ghana averaged approximately 29,100 boepd net in the second quarter of 2025. Kosmos lifted 3 cargos from Ghana during the quarter. At Jubilee (38.6% working interest), oil production in the second quarter averaged approximately 55,300 bopd gross, reflecting nine days of scheduled FPSO shutdown, a period of riser instability, which has since been addressed with riser base gas lift, and underperformance of certain wells in the eastern side of the field, including Jubilee Southeast. Facility uptime was 97% with voidage replacement around 104%. The Noble Venturer rig successfully drilled and completed the first well of the 2025/26 drilling campaign. This Jubilee main field producer (J-72) encountered more pay than expected and is currently producing around 10,000 bopd gross. The 2025 rig program has been optimized to drill a second producer in the Jubilee main field. As a result the rig will now undergo a period of scheduled maintenance before drilling the second well, which is expected online around the end of the year. Following completion of the second well, the rig is scheduled to drill four additional wells on Jubilee in 2026, targeting well-defined Jubilee main field producers, supported by good adjacent well control, similar to J-72. As previously communicated, to achieve the full production potential of the Jubilee field, a consistent drilling program is required, informed by the latest seismic technology, alongside high facility uptime and sustained water injection. The narrow-azimuth (NAZ) seismic acquired in the first quarter is now being processed and the fast-track results show a significant uplift in imaging quality. We expect the imaging quality to be further enhanced through the acquisition of ocean bottom node (OBN) seismic, which is planned for later this year. The OBN data is expected to upgrade the velocity model to further improve the NAZ processing. These enhanced seismic products are expected to benefit future drilling campaigns, identifying undrilled lobes, unswept oil, and new opportunities in Jubilee Southeast. During the second quarter, Kosmos and partners signed a Memorandum of Understanding (MoU) with the Government of Ghana to extend the production licenses to 2040. The partnership anticipates submitting the documentation to the government shortly with formal approval expected later in the year. On completion, Kosmos expects a material uplift in 2P reserves in Ghana. In the second quarter of 2025, Jubilee gas production net to Kosmos was approximately 5,700 boepd. At TEN (20.4% working interest), oil production averaged approximately 15,900 bopd gross for the second quarter. Gulf of America Production in the Gulf of America averaged approximately 19,600 boepd net (~84% oil) during the second quarter, at the upper end of guidance. The Winterfell-4 well was successfully drilled with completion work ongoing and is expected online later in the third quarter of 2025. On Tiberius, Kosmos (operator, 50% working interest) continues to progress the development plan with our partner Oxy (50% working interest), evaluating opportunities to improve the development through lower capital costs. Final investment decision is targeted for 2026. On Gettysburg, a discovered resource opportunity acquired in a previous lease sale, Kosmos (25% working interest) has partnered with Shell (operator, 75% working interest), to plan and progress a low-cost, single well tie-back development to Shell's operated-Appomattox facility. Equatorial Guinea Production in Equatorial Guinea averaged approximately 22,000 bopd gross and 7,700 bopd net in the second quarter. Kosmos lifted one cargo from Equatorial Guinea during the quarter. Second quarter production was impacted by subsea pump mechanical failures. The operator expects the first replacement pump to be installed in the fourth quarter with production expected to rise thereafter. Conference Call and Webcast Information Kosmos will host a conference call and webcast to discuss second quarter 2025 financial and operating results today, August 4, 2025, at 10:00 a.m. Central time (11:00 a.m. Eastern time). The live webcast of the event can be accessed on the Investors page of Kosmos' website at The dial-in telephone number for the call is +1-877-407-0784. Callers in the United Kingdom should call 0800 756 3429. Callers outside the United States should dial +1-201-689-8560. A replay of the webcast will be available on the Investors page of Kosmos' website for approximately 90 days following the event. About Kosmos Energy Kosmos Energy is a leading deepwater exploration and production company focused on meeting the world's growing demand for energy. We have diversified oil and gas production from assets offshore Ghana, Equatorial Guinea, Mauritania, Senegal and the Gulf of America. Additionally, in the proven basins where we operate we are advancing high-quality development opportunities, which have come from our exploration success. Kosmos is listed on the NYSE and LSE and is traded under the ticker symbol KOS. As an ethical and transparent company, Kosmos is committed to doing things the right way. The Company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos Sustainability Report. For additional information, visit Non-GAAP Financial Measures EBITDAX, Adjusted net income (loss), Adjusted net income (loss) per share, free cash flow, and net debt are supplemental non-GAAP financial measures used by management and external users of the Company's consolidated financial statements, such as industry analysts, investors, lenders and rating agencies. The Company defines EBITDAX as Net income (loss) plus (i) exploration expense, (ii) depletion, depreciation and amortization expense, (iii) equity based compensation expense, (iv) unrealized (gain) loss on commodity derivatives (realized losses are deducted and realized gains are added back), (v) (gain) loss on sale of oil and gas properties, (vi) interest (income) expense, (vii) income taxes, (viii) debt modifications and extinguishments, (ix) doubtful accounts expense and (x) similar other material items which management believes affect the comparability of operating results. The Company defines Adjusted net income (loss) as Net income (loss) adjusted for certain items that impact the comparability of results. The Company defines free cash flow as net cash provided by operating activities less Oil and gas assets, Other property, and certain other items that may affect the comparability of results and excludes non-recurring activity such as acquisitions, divestitures and National Oil Company ("NOC") financing. NOC financing refers to the amounts funded by Kosmos under the Carry Advance Agreements that the Company has in place with the national oil companies of each of Mauritania and Senegal related to the financing of the respective national oil companies' share of certain development costs at Greater Tortue Ahmeyim. The Company defines net debt as total long-term debt less cash and cash equivalents and total restricted cash. We believe that EBITDAX, Adjusted net income (loss), Adjusted net income (loss) per share, free cash flow, Net debt and other similar measures are useful to investors because they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the oil and gas sector and will provide investors with a useful tool for assessing the comparability between periods, among securities analysts, as well as company by company. EBITDAX, Adjusted net income (loss), Adjusted net income (loss) per share, free cash flow, and net debt as presented by us may not be comparable to similarly titled measures of other companies. This release also contains certain forward-looking non-GAAP financial measures, including free cash flow. Due to the forward-looking nature of the aforementioned non-GAAP financial measures, management cannot reliably or reasonably predict certain of the necessary components of the most directly comparable forward-looking GAAP measures, such as future impairments and future changes in working capital. Accordingly, we are unable to present a quantitative reconciliation of such forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures. Amounts excluded from these non-GAAP measures in future periods could be significant. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words 'anticipate,' 'believe,' 'intend,' 'expect,' 'plan,' 'will' or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos' Securities and Exchange Commission ('SEC') filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Kosmos Energy Ltd. Condensed Consolidated Balance Sheets (In thousands, unaudited) June 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 51,694 $ 84,972 Receivables, net 117,819 164,959 Other current assets 193,867 196,201 Total current assets 363,380 446,132 Property and equipment, net 4,357,812 4,444,221 Other non-current assets 491,814 418,635 Total assets $ 5,213,006 $ 5,308,988 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 312,928 $ 349,994 Accrued liabilities 240,585 244,954 Current maturities of long-term debt 250,000 — Other current liabilities 5,770 — Total current liabilities 809,283 594,948 Long-term liabilities: Long-term debt, net 2,600,553 2,744,712 Deferred tax liabilities 314,359 313,433 Other non-current liabilities 471,027 455,471 Total long-term liabilities 3,385,939 3,513,616 Total stockholders' equity 1,017,784 1,200,424 Total liabilities and stockholders' equity $ 5,213,006 $ 5,308,988 Expand Kosmos Energy Ltd. Condensed Consolidated Statements of Cash Flow (In thousands, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Operating activities: Net income (loss) $ (87,740 ) $ 59,770 $ (198,346 ) $ 151,456 Adjustments to reconcile net income to net cash provided by operating activities: Depletion, depreciation and amortization (including deferred financing costs) 153,157 92,350 275,708 195,677 Deferred income taxes (175 ) 12,515 1,636 5,199 Unsuccessful well costs and leasehold impairments (1,741 ) 2,219 162 2,685 Change in fair value of derivatives (15,469 ) (5,904 ) (7,883 ) 21,106 Cash settlements on derivatives, net(1) 5,787 (1,172 ) 6,281 (7,366 ) Equity-based compensation 7,346 10,487 15,707 17,815 Gain on sale of assets (600 ) — (600 ) — Debt modifications and extinguishments — 22,531 — 22,531 Other (2,909 ) (6,280 ) (8,506 ) (11,988 ) Changes in assets and liabilities: Net changes in working capital 69,512 37,141 42,121 99,105 Net cash provided by operating activities 127,168 223,657 126,280 496,220 Investing activities Oil and gas assets (82,521 ) (238,171 ) (172,766 ) (552,993 ) Notes receivable and other investing activities (42,743 ) (47 ) (86,791 ) (2,575 ) Net cash used in investing activities (125,264 ) (238,218 ) (259,557 ) (555,568 ) Financing activities: Borrowings under long-term debt 100,000 — 200,000 175,000 Payments on long-term debt (100,000 ) (50,000 ) (100,000 ) (350,000 ) Net proceeds from issuance of senior notes — — — 390,430 Purchase of capped call transactions — — — (49,800 ) Other financing costs (1 ) (19,234 ) (1 ) (30,925 ) Net cash provided by (used in) financing activities (1 ) (69,234 ) 99,999 134,705 Net increase (decrease) in cash, cash equivalents and restricted cash 1,903 (83,795 ) (33,278 ) 75,357 Cash, cash equivalents and restricted cash at beginning of period 50,096 257,913 85,277 98,761 Cash, cash equivalents and restricted cash at end of period $ 51,999 $ 174,118 $ 51,999 $ 174,118 Expand ___________________________ (1) Cash settlements on commodity hedges were $11.4 million and $(4.5) million for the three months ended June 30, 2025 and 2024, respectively, and $9.7 million and $(7.4) million for the six months ended June 30, 2025 and 2024, respectively. Expand Kosmos Energy Ltd. EBITDAX (In thousands, unaudited) Three Months Ended Six months ended Twelve Months Ended June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 June 30, 2025 Net income (loss) $ (87,740 ) $ 59,770 $ (198,346 ) $ 151,456 $ (159,951 ) Exploration expenses 4,069 13,235 13,738 25,295 108,350 Depletion, depreciation and amortization 151,268 90,094 271,935 191,022 537,687 Equity-based compensation 7,346 10,487 15,707 17,815 35,843 Derivatives, net (21,566 ) (2,852 ) (14,834 ) 20,970 (23,705 ) Cash settlements on commodity derivatives 11,414 (4,489 ) 9,664 (7,423 ) 4,600 Other expenses, net(1) 6,481 2,162 8,470 4,191 21,982 Gain on sale of assets (600 ) — (600 ) — (600 ) Interest and other financing costs, net 54,834 37,279 106,676 53,727 141,547 Income tax expense 23,980 75,354 40,555 125,637 74,879 EBITDAX $ 149,486 $ 281,040 $ 252,965 $ 582,690 $ 740,632 ___________________________ Expand The following table presents our net debt as of June 30, 2025 and December 31, 2024: Kosmos Energy Ltd. Adjusted Net Income (Loss) (In thousands, except per share amounts, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net income (loss) $ (87,740 ) $ 59,770 $ (198,346 ) $ 151,456 Derivatives, net (21,566 ) (2,852 ) (14,834 ) 20,970 Cash settlements on commodity derivatives 11,414 (4,489 ) 9,664 (7,423 ) Gain on sale of assets (600 ) — (600 ) — Other, net(2) 6,364 2,130 8,029 3,927 Debt modifications and extinguishments — 22,531 — 22,531 Total selected items before tax (4,388 ) 17,320 2,259 40,005 Income tax (expense) benefit on adjustments(1) (569 ) 3,392 (2,034 ) (3,917 ) Impact of valuation adjustments and other tax items — — — (7,963 ) Derivatives, net (0.05 ) (0.01 ) (0.03 ) 0.04 Cash settlements on commodity derivatives 0.02 (0.01 ) 0.02 (0.02 ) Gain on sale of assets — — — — Other, net(2) 0.02 — 0.02 0.01 Debt modifications and extinguishments — 0.05 — 0.05 Total selected items before tax (0.01 ) 0.03 0.01 0.08 Income tax (expense) benefit on adjustments(1) — 0.02 (0.01 ) (0.01 ) Impact of valuation adjustments and other tax items — — — (0.02 ) Expand ___________________________ (1) Income tax expense is calculated at the statutory rate in which such item(s) reside. Statutory rates for the U.S., Equatorial Guinea and Ghana are 21%, 25% and 35%, respectively. Expand Kosmos Energy Ltd. Free Cash Flow (In thousands, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Reconciliation of free cash flow: Net cash provided by operating activities $ 127,168 $ 223,657 $ 126,280 $ 496,220 Net cash used for oil and gas assets - base business (68,886 ) (120,525 ) (109,188 ) (275,385 ) Base business free cash flow 58,282 103,132 17,092 220,835 Net cash used for oil and gas assets - Mauritania/Senegal (13,635 ) (117,646 ) (63,578 ) (277,608 ) Free cash flow $ 44,647 $ (14,514 ) $ (46,486 ) $ (56,773 ) ___________________________ Expand Kosmos Energy Ltd. Operational Summary (In thousands, except barrel and per barrel data, unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net Volume Sold Oil (MMBbl) 5.363 5.210 9.023 10.099 Gas (MMcf) 7.120 4.101 11.292 8.437 NGL (MMBbl) 0.113 0.060 0.204 0.148 Total (MMBoe) 6.663 5.954 11.109 11.653 Total (Mboepd) 73.216 65.423 61.376 64.028 Revenue Oil sales $ 354,518 $ 435,100 $ 624,923 $ 837,217 Gas sales 36,049 14,494 53,678 29,632 NGL sales 2,068 1,306 4,169 3,154 Total oil and gas revenue 392,635 450,900 682,770 870,003 Cash settlements on commodity derivatives 11,414 (4,489 ) 9,664 (7,423 ) Realized revenue $ 404,049 $ 446,411 $ 692,434 $ 862,580 Sales per Bbl/Mcf/Boe Average oil sales price per Bbl $ 66.10 $ 83.51 $ 69.26 $ 82.90 Average gas sales price per Mcf 5.06 3.53 4.75 3.51 Average NGL sales price per Bbl 18.30 21.77 20.44 21.31 Average total sales price per Boe 58.93 75.73 61.46 74.66 Cash settlements on commodity derivatives per Boe 1.71 (0.75 ) 0.87 (0.64 ) Realized revenue per Boe 60.64 74.98 62.33 74.02 Oil and gas production costs per Boe $ 36.49 $ 25.31 $ 36.94 $ 20.97 Expand ___________________________ (1) Includes $69.1 million and $127.2 million for the three and six months ended June 30, 2025, respectively, related to the LNG production at the GTA Phase I project in Mauritania and Senegal. First LNG was achieved in February 2025 and the first LNG cargo was successfully completed in April 2025. Kosmos was underlifted by approximately 0.3 million barrels of oil equivalent (mmboe) as of June 30, 2025. Expand Kosmos Energy Ltd. Hedging Summary As of June 30, 2025 (1) (Unaudited) Weighted Average Price per Bbl 2025: Two-way collars Dated Brent 4,000 $ 60.00 — $ 74.94 Three-way collars Dated Brent 1,000 70.00 55.00 85.00 2026: Two-way collars 1H26 Dated Brent 1,000 $ 60.00 — $ 74.75 Three-way collars FY26 Dated Brent 2,000 60.00 50.00 75.51 Swaps 1H26 Dated Brent 1,000 72.90 — — Swaps FY26 Dated Brent 3,000 70.62 — — Expand ___________________________ (1) Please see the Company's filed 10-Q for additional disclosure on hedging material. Includes hedging position as of June 30, 2025 and hedges put in place through filing date. (2) 'Floor' represents floor price for collars and strike price for purchased puts. Note: Excludes 2.0 MMBbls of sold calls with a strike price of $80.00 per Bbl and 2.0 MMBbls of sold puts with a strike price of $55.00 in 2026. Expand ___________________________ Note: Ghana / Equatorial Guinea / Mauritania & Senegal revenue calculated by number of cargos. (1) 3Q 2025 net cargo forecast – Ghana: 2 cargos / Equatorial Guinea: 0.7 cargo. FY 2025 Ghana: 10 cargos / Equatorial Guinea 2.5-3.0 cargos. Average cargo sizes 950,000 barrels of oil. (2) 3Q 2025 gross cargo forecast - Mauritania & Senegal: 6-8 cargos. FY 2025: 20 cargos. Average cargo size ~170,000 m 3 with Kosmos NRI of ~24%. (3) Gulf of America Production: 3Q 2025 forecast 15,500-17,000 boe per day. FY 2025: 17,000-20,000 boe per day. Oil/Gas/NGL split for 2025: ~83%/~11%/~6%. (4) FY 2025 opex excludes operating costs associated with GTA, which are expected to total approximately $225 - $245 million net ($60 - $70 million in 3Q 2025). These values include cost associated with the FPSO lease which total approximately $60 million FY 2025 and $15 million 3Q 2025. (5) Excludes leasehold impairments and dry hole costs (6) Includes capitalized interest Expand
Business Wire
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Elliptic Labs Launches Three Smartphone Models with vivo and HONOR for July 2025
OSLO, Norway--(BUSINESS WIRE)-- Elliptic Labs (OSE: ELABS), a global AI software company and the world leader in AI Virtual Smart Sensors™ currently deployed in over half a billion devices, has launched its AI Virtual Smart Sensor Platform™ on three smartphone models in July 2025. HONOR launched two smartphones: the HONOR X70 Series. vivo announced one smartphone: the vivo X200FE smartphone. For 2025 year-to-date, Elliptic Labs has launched on a total of 39 smartphone models. Lastly, with the HONOR X70 Series shipment, Elliptic Labs surpassed 200 smartphone models shipped in its history! 'Elliptic Labs' AI Virtual Smart Sensor Platform was launched on three smartphone models in July 2025, bringing our total to 39 smartphone model launches year-to-date 2025,' said Laila Danielsen, CEO of Elliptic Labs. Share 'Elliptic Labs' AI Virtual Smart Sensor Platform was launched on three smartphone models in July 2025, bringing our total to 39 smartphone model launches year-to-date 2025,' said Laila Danielsen, CEO of Elliptic Labs. AI Virtual Proximity Sensor INNER BEAUTY Elliptic Labs' AI Virtual Proximity Sensor detects when a user holds their phone up to their ear during a call, allowing the smartphone to turn off its display and disable its screen's touch functionality. This keeps the user's ear or cheek from triggering unwanted actions during the call, such as hanging up or dialing numbers. Turning off the screen also helps conserve battery life. Proximity detection is a core capability that is used in all smartphones, but Elliptic Labs' AI Virtual Proximity Sensor is a unique, software-only solution that delivers robust proximity detection without the need for a dedicated hardware sensor. By replacing hardware sensors with software sensors, the AI Virtual Proximity Sensor reduces device cost and eliminates sourcing risk. INNER BEAUTY is a registered trademark of Elliptic Labs. AI Virtual Smart Sensor, AI Virtual Proximity Sensor, and AI Virtual Smart Sensor Platform are trademarks of Elliptic Labs. All other trademarks or service markets are the responsibility of their respective organizations. About Elliptic Labs Elliptic Labs' AI Virtual Smart Sensor Platform™ brings contextual intelligence to devices, enhancing user experiences. Our technology uses proprietary deep neural networks to create AI-powered Virtual Smart Sensors that improve personalization, privacy, and productivity. Currently deployed in over 500 million devices, our platform works across all devices, operating systems, platforms, and applications. By utilizing system-level telemetry data to cloud-based Large Language Models (LLMs), the AI Virtual Smart Sensor Platform delivers the unrivaled capability to utilize output data from every available data source. This approach allows devices to better understand and respond to their environment, making technology more intuitive and user-friendly. At Elliptic Labs, we're not just adapting to the future of technology – we're actively shaping it. Our goal is to continue pushing the boundaries of contextual intelligence, creating more intuitive and powerful experiences for users worldwide. Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taiwan, and Japan. The company is listed on the Oslo Stock Exchange. Its technology and IP are developed in Norway and are solely owned by the company.
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3 hours ago
- Business Wire
Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: Company to Announce Major Breakthrough of Its Bridge Strategy on August 16 in Pebble Beach
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or the 'Company'), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Co-CEO of FF. 'This is our 14th weekly update, and also the third monthly edition. This week, we witnessed a turning point in the global economy. Following the U.S. Congress passing its first federal crypto legislation—the 'Genius Act'—the SEC also launched a major new initiative called Project Crypto. In my opinion, this marks a significant acceleration of blockchain integration into the U.S. financial system. It signals that the U.S. is building the next generation of Web3 infrastructure, driving a full-scale convergence between Web2 and Web3. More importantly, it represents a major shift in the global landscape of technology and finance, and the beginning of the next wave of innovation. Today also marks my 100th day as Co-CEO. Before we get into the results of our '100-Day Renewal,' I'd like to give you a preview of something even more important, a major strategic upgrade: On August 16th, at Pebble Beach, we'll officially unveil and kick off the second chapter of our Bridge Strategy. This will not only be a major milestone in the evolution of our Bridge Strategy — and we expect that it will also open up a new growth curve for FF. In addition, our upcoming Q2 earnings call will mark the first time since listing that we present our five-year performance outlook. This reflects our strong confidence in the future and signals that FF has reached a new stage in both governance and operations. Over the past 100 days, we've rolled out an unprecedented 'Ten-Punch Combo' transformations, delivering a full-scale refreshment from S1 to S7. Both our business fundamentals and capital fundamentals have taken a major leap forward. This lays a solid foundation and confidence for our next round of strategic upgrades. When I took office, I set out three main goals — in business, finance, and capital. By now, most of their milestone KPIs for Q3 have not only been met but exceeded. Key results include: First, we fully reshaped the corporate culture, the iron-willed combat strength has returned. The Lion-Wolf culture and fearless execution is emerging across the company. This spirit was powerfully demonstrated in the June 29th and July 17th product launches. Second, we successfully unveiled the FX Super One against the stunning backdrop of the Los Angeles skyline. As a First-Class EAI-MPV, this revolutionary product once again led transformation and ignited the industry, driving dual accumulation of both user equity and brand equity. With over 10,000 pre-orders received, we've fully explored the viability and competitive edge of the Co-Creation Ecosystem Online Direct Sales Model — a three-engine approach driven by user acquisition, user co-creation, and user operations. Today, we also launched the global co-creation campaign 'Design Its Face. Define Its Soul,' inviting you to upload your creative designs for the Super EAI F.A.C.E. avatar, and to join us in co-creating both the product and the technology — to build your very own EAI Avatar. We warmly welcome your participation! Third, FX Super One has officially entered the trial production phase at our Hanford, California factory. We're now deep into process planning and validation — defining manufacturing processes and quality standards, while ramping up training for engineers and production teams. Meanwhile, construction at our Ras Al Khaimah facility in the UAE is picking up speed, positioning us to begin regional deliveries in the Middle East by year-end. Fourth, the FF and FX Bridge Strategy, bridging the U.S. and China automotive industries, has advanced from Girder Erection to Bridge Closure. We've received strong support from top-tier Chinese manufacturers and engaged with influential stakeholders within the U.S. government. This includes closed-door meetings with more than a dozen members of Congress as well as a mention by Donald Trump Jr on a Podcast. We believe the policy climate will continue to shift in our favor. Fifth, our cash flow has improved significantly. Core operating expenses have been meaningfully reduced, while our financial processes and system management have seen major upgrades. These advances will be clearly reflected in our upcoming Q2 earnings report. Sixth, our capital fundamentals have undergone a transformational shift, reigniting market confidence. Our market cap has nearly tripled, we've been added to the Russell 3000 Index, and institutional investors — including BlackRock and Vanguard — have increased their positions substantially. Our 'Battle Against Illegal Short Selling' has delivered initial success. This reflects our firm commitment to putting 'Stockholders First.' In parallel, our strategic partnership with HabitTrade marks the first step in building a forward-looking ecosystem that brings together EAI Mobility, Web3, blockchain technology, crypto, and stablecoins. These first 100 days are not the finish line — they're the launchpad. But they've shown us one undeniable truth: with the right direction, unwavering conviction, and all-out execution, we can rebuild trust and redefine value. To every investor, user, supplier, and partner who has backed FF, FX, and myself throughout this comeback — thank you. Your belief has been the light guiding us through the headwinds. And in every 100 days ahead, we'll move faster, deliver with greater substance, and deepen our co-creation — to honor the trust of our users, shareholders, and every fighter in the FF family.' ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit FORWARD LOOKING STATEMENTS This press release includes 'forward looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'plan to,' 'can,' 'will,' 'should,' 'future,' 'potential,' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Super One MPV, Super EAI F.A.C.E., and EAI Embodied AI Agent 6x4 architecture, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to secure necessary agreements to license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to secure necessary permits at its Hanford, CA production facility; the Company's ability to secure regulatory approvals for the proposed Super One front grill; the potential impact of tariff policy; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to cover future warranty claims; the Company's ability to use its 'at-the-market' program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.
