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Arrive AI selects Synoptek as a Strategic IT Partner to Power Global Expansion

Arrive AI selects Synoptek as a Strategic IT Partner to Power Global Expansion

Miami Herald10-07-2025
INDIANAPOLIS, IN AND COSTA MESA, CA / ACCESS Newswire / July 10, 2025 / Arrive AI (NASDAQ:ARAI) - a pioneering autonomous delivery network anchored by Arrive Points™ - has selected Synoptek as a strategic IT partner to enable its rapid growth and global ambitions. Synoptek will provide Arrive AI with all the IT solutions it needs to support its business.
With a recent injection of up to $40 million in funding from Streeterville Capital, Arrive AI is entering a critical growth phase. The company is preparing to launch its patented, autonomous delivery platform later this summer and expects to triple its staff size.
"Synoptek's strategic approach, deep expertise, robust tech stack and strong partnerships with Microsoft and ServiceNow made it a clear choice," said Mark Hamm, COO of Arrive AI. "We were searching for a partner who could move at our pace and help us build a resilient IT foundation for global expansion. After conducting an exhaustive search, we knew Synoptek would be the partner we were looking for to provide all of IT capabilities we need to take our business to the next level"
Under the three-year agreement, Synoptek will contribute to the solution definition, implementation and IT management, including, cybersecurity, enterprise-grade IT and 24/7 AI-enabled managed services operations. This engagement deepens Synoptek's presence in the high-growth logistics and manufacturing sector and aligns with its mission to deliver smart, secure and connected IT environments.
"We're proud to serve as an extension of the Arrive AI team," said Salil Godika, CEO at Synoptek. "Together, we are building a resilient and secure IT backbone that supports innovation and scale. We deliver focused solutions that incorporate exceptional customer experiences, digital application engineering, and agile infrastructure. We are committed to providing Arrive AI with the technology foundation it needs to grow with confidence."
Synoptek will provide advisory services and information sharing around security, AI and application innovation as Arrive AI continues to push boundaries in the AI transportation and logistics space.
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About Arrive AI: Arrive AI's patented Autonomous Last Mile (ALM) platform enables secure, efficient delivery to and from a smart, AI-powered mailbox, whether by drone, ground robot or human courier. The platform provides real-time tracking, smart logistics alerts and advanced chain of custody controls to support shippers, delivery services and autonomous networks. By combining artificial intelligence with autonomous technology, Arrive AI makes the exchange of goods between people, robots and drones frictionless and convenient. Its system integrates with smart home devices such as doorbells, lighting and security systems to streamline the entire last-mile delivery experience. Learn more at www.arriveai.com.
Media contact: Cheryl Reed at media@arriveai.com
Investor Relations Contact: Alliance Advisors IR at ARAI.IR@allianceadvisors.com
About Synoptek: Synoptek is a global, full-service business and digital technology solutions provider and advisory firm that helps companies envision, transform, and evolve their customer experiences, application ecosystems, and infrastructures. As a systems integrator and managed technology provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their businesses.
With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps companies optimize their IT environments and enable innovation through technology. With growth, ownership, inclusiveness, and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders.
Cautionary Note Regarding Forward Looking Statements
This news release and statements of Arrive AI's management in connection with this news release or related events contain or may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "potential", "will", "should", "could", "would", "optimistic" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI's Registration Statement for more complete information, including the risk factors that may affect future results, which are available for review at www.sec.gov. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
SOURCE: Arrive AI Inc.
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Optex Systems Holdings, Inc. Announces Financial Highlights for the Three and Nine Months Ended June 29, 2025
Optex Systems Holdings, Inc. Announces Financial Highlights for the Three and Nine Months Ended June 29, 2025

Miami Herald

time4 hours ago

  • Miami Herald

Optex Systems Holdings, Inc. Announces Financial Highlights for the Three and Nine Months Ended June 29, 2025

RICHARDSON, TX / ACCESS Newswire / August 12, 2025 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announced financial results for the three and nine months ended June 29, 2025. Danny Schoening, CEO of Optex Systems Holdings, Inc., commented, "We are proud to announce another record-breaking quarter for revenue, a testament to our unwavering commitment to excellence, reliability, and customer support. This milestone reflects not only our strong operational performance but also the momentum we are building across the business. "In addition to surpassing previous revenue records, we are excited to report several significant new program wins that expand our footprint in both domestic and international markets. These new awards are the result of our consistent delivery of high-quality products and the trust we have earned as a dependable defense manufacturing partner. "Our factory performance continues to highlight the strength of our team and the efficiency of our processes. As we celebrate this achievement, we remain focused on sustaining this growth trajectory, investing in innovation, and delivering superior value to our customers and shareholders. "We thank our employees, customers, and investors for their ongoing support in making this success possible." Backlog as of June 29, 2025 was $38.3 million, compared to a backlog of $45.6 million as of June 30, 2024, representing a decrease of $7.3 million, or 16.0% from the prior year June period. Subsequent to the period ended June 29, 2025, the Company announced several new awards including a $2.8 million order for the XM30 program, a $10.2 million five-year requirement-type contract award for optical sighting systems, and a $1.6 million order for laser filters, bringing our total backlog to $45.0 million as of August 5, 2025. For the three months ended June 29, 2025, our total revenue increased by $2.1 million, or 22.6%, compared to the prior year period. For the nine months ended June 29, 2025, our total revenue increased by $5.5 million, or 22.3%, compared to the prior year period. The increase in revenue was primarily driven by higher periscope production levels at the Optex Richardson segment, combined with increased customer demand across both the Optex Richardson and the Applied Optics operating segments. Consolidated gross profit for the three months ended June 29, 2025 increased by $0.3 million, or 10.0%, compared to the prior year period. Consolidated gross profit for the nine months ended June 29, 2025 increased by $1.5 million, or 21.6%, compared to the prior year period. The increase in the most recent three and nine-month period gross profit was primarily attributable to increased revenue and changes in product mix. Our operating income for the three months ended June 29, 2025 increased by $0.3 million, or 18.3%, compared to the prior year period. Our operating income for the nine months ended June 29, 2025 increased by $1.5 million, or 43.8%, compared to the prior year period. The increase in operating income was primarily driven by higher revenue and gross profit. As of June 29, 2025, Optex Systems Holdings had working capital of $19.4 million, as compared to $15.1 million as of September 29, 2024. During the nine months ended June 29, 2025, we generated operating cash of $5.4 million, primarily driven by increased net income, reductions in inventory and increased accounts payable. During the nine months ended June 29, 2025, we paid $1.0 million against the credit facility and purchased capital assets of $0.5 million. At June 29, 2025, the Company had approximately $4.9 million in cash and no draws against its revolving credit line. As of June 29, 2025, our outstanding accounts receivable balance was $4.1 million to be collected during the fourth quarter of fiscal 2025. Our key performance measures for the three and nine months ended June 29, 2025 and June 30, 2024 are summarized below. The table below summarizes our three- and nine-month operating results for the periods ended June 29, 2025 and June 30, 2024, in terms of both the GAAP net income measure and the non-GAAP Adjusted EBITDA measure. We believe that including both measures allows the reader better to evaluate our overall performance. Adjusted EBITDA has limitations and should not be considered in isolation or a substitute for performance measures calculated under GAAP. This non-GAAP measure excludes certain cash expenses that we are obligated to make. In addition, other companies in our industry may calculate Adjusted EBITDA differently than we do or may not calculate it at all, which limits the usefulness of Adjusted EBITDA as a comparative measure. Our net income increased by $0.2 million to $1.5 million for the three months ended June 29, 2025, as compared to net income of $1.3 million for the prior year period. Our adjusted EBITDA increased by $0.3 million to $2.1 million for the three months ended June 29, 2025, as compared to adjusted EBITDA of $1.8 million for the prior year period. Our net income increased by $1.3 million to $4.1 million for the nine months ended June 29, 2025, as compared to net income of $2.8 million for the prior year period. Our adjusted EBITDA increased by $1.5 million to $5.7 million for the nine months ended June 29, 2025, as compared to adjusted EBITDA of $4.2 million for the prior year period. 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WanAware Survey Finds ITAM Confidence Gap is Costing Enterprises Time, Trust, and Millions in Missed Value
WanAware Survey Finds ITAM Confidence Gap is Costing Enterprises Time, Trust, and Millions in Missed Value

Miami Herald

time4 hours ago

  • Miami Herald

WanAware Survey Finds ITAM Confidence Gap is Costing Enterprises Time, Trust, and Millions in Missed Value

New survey of 600 enterprise leaders reveals growing investment in IT asset management, yet alarming visibility and alignment gaps persist across organizations. BOULDER, CO / ACCESS Newswire / August 12, 2025 / WanAware, an innovator in intelligent observability, today released a new report titled Closing the ITAM Confidence Gap: 2025 Survey Insights for IT Leaders, uncovering a stark divide in how IT teams and the broader business perceive the value and performance of ITAM systems. While IT managers express growing confidence in their tools, data, and ROI, most other departments remain unconvinced and often left in the dark. According to the survey of 600 professionals across IT, operations, and general management at multi-location enterprises, 95% of IT leaders say they trust their asset data, and 80% report growing investment in ITAM initiatives. But outside of IT, that confidence quickly erodes. Less than half of analysts feel good about ROI, and only 35% of other managers trust the accuracy of asset data. "This isn't just a perception problem, it's an operational one," said Jeff Collins, CEO of WanAware. "When confidence in IT asset data drops by half outside the IT department, it creates real risk, wasted spend, and delays that fly under the radar until it's too late." The report highlights how manual effort, fragmented tooling, and poor visibility continue to plague ITAM workflows. Nearly a quarter of IT teams still rely on spreadsheets and email threads to track assets. And even as IT leaders consolidate systems and adapt, the rest of the organization sees little progress. Non-IT respondents report fragmented tools, slow onboarding, and inconsistent data, undermining trust and making collaboration harder across finance, procurement, and compliance. The gap is more than frustrating, it's expensive. The survey estimates up to 25% of IT spend is wasted on "ghost assets" including devices and licenses that are no longer in use but remain on the books. These blind spots often fly under the radar, exposing companies to unnecessary tax, security, and compliance risk. When asked what would improve ITAM most, IT leaders weren't asking for bells and whistles. They pointed to real-time updates, automated responses to risky assets, and simplified tools that remove the burden of manual tracking. The goal is clear: fewer roadblocks, not more features. The disconnect also appears to be widening. Half of IT managers say missing assets cause significant disruption, compared to just 9% of their peers in other departments. And while IT teams report improved visibility since shifting to remote work, analysts and ops managers see no such benefit. These perception gaps fuel disengagement, workarounds, and wasted time, ultimately weakening the business case for ITAM investment. Still, WanAware believes alignment is possible. The report calls on IT leaders to take a more strategic role by proving the value of ITAM in business terms, integrating it with cybersecurity and service management tools, and making data and dashboards accessible to non-technical teams. "Asset management shouldn't be a gatekeeping function," said Collins. "It should be a command center. When asset data is real-time, trusted, and actionable, it becomes the foundation for smart operations, secure systems, and scalable growth." WanAware's own platform is built to solve exactly these issues, eliminating ghost assets with automated discovery, providing a shared real-time view across departments, and triggering policy-based remediation the moment an asset goes missing or risky. That combination of observability and automation is already helping enterprises close the confidence gap and regain control over sprawling, hybrid IT environments. Download the full 2025 ITAM Confidence Gap survey report here. Organizations can also now capitalize on a free 14-day trial of WanAware AIM to uncover gaps in their own environment and see real-time results: ### ABOUT WANAWARE: WanAware is an innovator in intelligent observability, dedicated to solving the most pressing challenges in IT performance, availability, and security monitoring. By leveraging advanced technologies, including AI and machine learning, WanAware delivers actionable insights that empower organizations to achieve operational excellence. For more information, visit MEDIA CONTACT: Nina Pfister, MAG PR at nina@ T: 781-929-5620. SOURCE: WanAware

Formerra Becomes North American Distributor for Syensqo PVDF
Formerra Becomes North American Distributor for Syensqo PVDF

Miami Herald

time4 hours ago

  • Miami Herald

Formerra Becomes North American Distributor for Syensqo PVDF

New agreement reinforces Formerra's strategy to support high-performance applications with advanced polymer solutions across multiple markets. ROMEOVILLE, IL / ACCESS Newswire / August 12, 2025 / Formerra, a leader in performance materials distribution, has signed an agreement with Syensqo to distribute its Solef® Polyvinylidene Fluoride (PVDF) materials in North America. The agreement expands access to this critical material known for its combination of chemical resistance and flexibility. Solef® PVDF joins a growing list of high-performance materials in Formerra's portfolio designed to advance product development and innovation. "With this new agreement, Formerra will be able to support customers across multiple markets with the materials they need to meet demanding application requirements," said Bob Long, Business Development Manager at Formerra. "In addition, this reinforces our commitment to delivering unmatched access, application support, and advanced materials for customers navigating complex performance and regulatory challenges." PVDF is positioned near the top of the performance pyramid for its outstanding chemical and heat resistance. Its inherent flexibility further enhances its suitability for demanding applications in chemical processing, healthcare, and automotive industries. Key properties* include: Heat resistance: Continuous use temperatures up to 150 °C (302 °F), bursting pressures of up to 139 bar (2,017 psi) at room temperatureChemical purity: Ultra-pure water resistivity, meeting SEMI F-57 specifications for the semiconductor industryBalance of strength and flexibility: Tensile yield strength up to 55 MPa (8,000 psi) with elongation at break up to 100% "We chose Formerra as our distribution partner for Solef® PVDF in North America because of their technical and commercial reach," said Rose Catherin, Sales Director Americas, Channel partners, Distribution and Digital Sales at Syensqo Specialty Polymers. "Their commitment to excellence and long-standing presence in critical markets make them an ideal fit to help expand the availability and use of Solef® PVDF." *As measured by TDS Key Details: Formerra is an authorized distributor of Solef® PVDF from Syensqo in North agreement includes support for high-performance applications across a broad spectrum of offers excellent chemical resistance, thermal stability, and provides technical guidance and supply chain expertise to support material selection and application development. ### About FormerraFormerra is a preeminent distributor of engineered materials, connecting the world's leading polymer producers with thousands of OEMs and brand owners across healthcare, consumer, industrial, and mobility markets. Powered by technical and commercial expertise, it brings a distinctive combination of portfolio depth, supply chain strength, industry knowledge, service, leading e-commerce capabilities, and ingenuity. The experienced Formerra team helps customers across multiple industries to design, select, process, and develop products in new and better ways - driving improved performance, productivity, reliability, and sustainability. To learn more, visit Media ContactJackie MorrisMarketing Communications Manager, 630-972-3144 SOURCE: Formerra press release

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