EASE Protocol Announces No-Code AutoTasks Platform
SEATTLE, July 21, 2025 (GLOBE NEWSWIRE) —
The EASE Protocol (ease.tech), an innovative blockchain platform specializing in enterprise and government-grade solutions that focus on ease-of-use and mass adoption, today launched AutoTasks, a no-code toolkit that allows users to deploy powerful and secure smart contracts in under a minute without technical experience. The platform addresses the critical barrier preventing mainstream blockchain adoption by eliminating coding, testing, and specialized blockchain knowledge requirements while maintaining enterprise-grade security and functionality.
'Smart contracts have been touted as one of the great uses of blockchain, but no one has yet made them easy enough for real world users to employ for themselves,' said Douglas Horn, the architect of EASE Protocol. 'Even the name 'smart contract' is intimidating. AutoTasks look at them from a user standpoint: They can hit a button and have a task handled for them automatically, without the fear of code errors or AI agent hallucinations. AutoTasks are powerful digital assistants made safe and easy for everyone.'
Video link https://youtu.be/M8ZUqso5-lk
Accessible directly from the EASE Easy-for-Everyone™ SuperApp, AutoTasks unlock decentralized capabilities through a fill-in-the-blanks Setup Wizard that configures audited, pre-compiled, production-ready smart contract deployment. The platform supports a variety of pre-made tasks including account sharing, payment splitting, digital object creation, art collection releases with IP protection, blockchain-backed certificate issuance, governance group establishment, loyalty points programs, and digital storefront creation, with more coming. AutoTasks make blockchain creation accessible to everyday users regardless of technical background.
The launch represents a significant milestone in Web3 accessibility, with AutoTasks coming soon to the EASE SuperApp's all-in-one interface designed to onboard the next billion users to blockchain technology. Through seamless onboarding, ISO-compliant architecture, and Web2-style user experience, the EASE Protocol is bringing blockchain tools to mainstream audiences.
About EASE Protocol
EASE Protocol is a comprehensive Web3 platform that simplifies blockchain technology for mainstream adoption. Through its Super App interface and no-code tools, EASE Protocol enables users to access decentralized capabilities without technical barriers. The platform combines enterprise-grade security with user-friendly design to bridge the gap between traditional digital experiences and blockchain innovation. For more information, visit ease.tech..
Media Contact: [email protected]
[email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Ahmedabad Plane Crash
GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
2 hours ago
- Hamilton Spectator
Celestica Announces Second Quarter 2025 Financial Results
(All amounts in U.S. dollars) Q2 2025 revenue and adjusted EPS* above the high end of our guidance ranges; Raising 2025 annual outlook TORONTO, July 28, 2025 (GLOBE NEWSWIRE) — Celestica Inc.1 (TSX and NYSE: CLS), a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended June 30, 2025 (Q2 2025). Q2 2025 Highlights 'We achieved very strong results in the second quarter, with revenue of $2.89 billion and non-GAAP adjusted EPS* of $1.39, representing growth of 21% and 54%, respectively, each exceeding the high end of our guidance ranges. This performance was bolstered by strong adjusted operating margin* of 7.4%, another new high for the company, demonstrating the strength of our execution,' stated Rob Mionis, President and CEO. 'With our strong first half results, and a strengthening demand outlook from our CCS customers, we are increasing our full-year 2025 outlook. We now expect revenue to reach $11.55 billion, an increase from the prior $10.85 billion, and anticipate non-GAAP adjusted EPS* of $5.50, up from our previous estimate of $5.00.' 1 Celestica has two operating and reportable segments: Advanced Technology Solutions (ATS) (comprised of our Aerospace and Defense (A&D), Industrial, HealthTech and Capital Equipment businesses), and Connectivity & Cloud Solutions (CCS) (consists of our Communications and Enterprise (servers and storage) end markets). Segment performance is evaluated based on segment revenue, segment income and segment margin (segment income as a percentage of segment revenue). See note 3 to our June 30, 2025 unaudited interim condensed consolidated financial statements (Q2 2025 Interim Financial Statements) for further detail. 2 Per share information included in this press release is based on diluted shares outstanding unless otherwise noted. * See Use of Non-GAAP Measures and Schedule 1 for, among other items, non-GAAP financial measures (and ratios) included in this press release, their definitions, uses, and a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures. Non-GAAP measures in this press release are denoted with an asterisk (*). Third Quarter of 2025 (Q3 2025) Guidance 2025 Annual Outlook Update Our Q3 2025 Guidance and 2025 Annual Outlook Update assume no material changes to tariffs or trade restrictions compared to what are in effect as of July 28, 2025 and no material changes from current macroeconomic trends and uncertainties. Substantially all tariffs paid by Celestica are expected to be recovered from our customers, and are not expected to materially impact our non-GAAP adjusted EBIAT* or non-GAAP adjusted net earnings* dollars. * See Use of Non-GAAP Measures and Schedule 1. For our Q3 2025 Guidance and 2025 Annual Outlook Update, we present certain forward-looking non-GAAP metrics. A reconciliation of such forward-looking non-GAAP measures to the most directly comparable GAAP measures on a forward-looking basis has not been provided because the items that we exclude from GAAP to calculate the comparable non-GAAP measure are dependent on future events that are not able to be reliably predicted by management and are not part of our routine operating activities. We are unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty in predicting the occurrence, the financial impact and the periods in which the adjustments may be recognized. The occurrence, timing and amount of any of the items excluded from GAAP to calculate non-GAAP could significantly impact our GAAP results. Summary of Selected Q2 2025 Results CCS segment revenue: $2.07 billion, increased 28% compared to Q2 2024; CCS segment margin: 8.3% compared to 7.0% for Q2 2024. Hardware Platform Solutions revenue of approximately $1.2 billion increased 82% compared to Q2 2024. ATS segment revenue: $0.82 billion, increased 7% compared to Q2 2024; ATS segment margin: 5.3% compared to 4.6% for Q2 2024. Q2 2025 Financial Results Management will host its Q2 2025 results conference call on July 29, 2025 at 8:00 am. Eastern Daylight Time (EDT). The webcast can be accessed at . Use of Non-GAAP Measures In addition to disclosing detailed operating results in accordance with GAAP, Celestica provides supplementary non-GAAP financial measures to consider in evaluating the company's operating performance. Management uses adjusted net earnings and other non-GAAP financial measures to assess operating performance, financial leverage and the effective use and allocation of resources; to provide more normalized period-to-period comparisons of operating results; to enhance investors' understanding of the core operating results of Celestica's business; and to set management incentive targets. We believe investors use both GAAP and non-GAAP financial measures to assess management's decisions associated with our priorities and capital allocation, as well as to analyze how our business operates in, or responds to, macroeconomic trends or other events that impact our core operations. See Schedule 1 below. About Celestica Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in Aerospace and Defense, Communications, Enterprise, HealthTech, Industrial, and Capital Equipment to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development — from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers. For more information on Celestica, visit . Our securities filings can be accessed at and . The information contained on or accessible through is not incorporated by reference into, and does not form part of, this release. Cautionary Note Regarding Forward-looking Statements This press release contains forward-looking statements, including, without limitation, those related to: strengthening demand in our CCS segment, demand environment and customer forecasts, our anticipated financial and/or operational results, guidance and outlook, including statements under the headings ' Q2 2025 Highlight', ' Third Quarter of 2025 ( Q3 2025) Guidance', and '2025 Annual Outlook Update', developments related to new customer wins, program inclusions, timing of production ramps, anticipated economic conditions, industry trends, underlying market growth rates, customer demand, prospects and opportunities, and strategic initiatives. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as 'believes,' 'expects,' 'anticipates,' 'estimates,' 'intends,' 'plans,' 'continues,' 'project,' 'target,' 'outlook,' 'goal,' 'guidance', 'potential,' 'possible,' 'contemplate,' 'seek,' or similar expressions, or may employ such future or conditional verbs as 'may,' 'might,' 'will,' 'could,' 'should,' or 'would,' or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, where applicable, and for forward-looking information under applicable Canadian securities laws. Forward-looking statements are provided to assist readers in understanding management's current expectations and plans relating to the future. Forward-looking statements reflect our current estimates, beliefs and assumptions, which are based on management's perception of historic trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, including certain assumptions about anticipated CCS and ATS revenue growth; anticipated demand levels across our businesses; continuing operating leverage and improving mix; the impact of anticipated market conditions on our businesses; tax and interest rates; continued advancement and commercialization of artificial intelligence (AI) technologies and cloud computing; supporting sustained high levels of capital expenditure investments by leading hyperscaler, AI, and data center customers; the economy; our customers; our suppliers; no material changes to tariffs or trade restrictions compared to what are in effect as of July 28, 2025 ; that our customers will retain liability for and we will be able to recover substantially all costs from customers relating to product/component tariffs and countermeasures; no material changes in business activities resulting from current macroeconomic trends and uncertainties, including evolving global tariff and trade negotiations; our ability to achieve our strategic goals; the number of outstanding shares; as well as other market, financial and operational assumptions. Readers are cautioned that such information may not be appropriate for other purposes. Readers should not place undue reliance on such forward-looking information. Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to: customer and segment concentration; reduction in customer revenue; erosion in customer market competitiveness; changing revenue mix and margins; uncertain market, industry, political and economic conditions; customer requests to transfer manufacturing of products from one facility to another; changes to policies or legislation; operational challenges such as inventory management and materials and supply chain constraints; and program ramps; the cyclical nature and/or volatility of certain of our businesses; talent management and inefficient employee utilization; risks related to the expansion or consolidation of our operations; cash flow, revenue, and operating results, and tax and interest variability; technology and IT disruption; increasing legal, tax and regulatory complexity and uncertainty (including in relation to our or our customers' businesses); integrating and achieving the anticipated benefits from acquisitions; and the potential adverse impacts of events outside of our control. For more exhaustive information on the foregoing and other material risks, uncertainties and assumptions readers should refer to our public filings at and , including in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed with, or furnished to, the U.S. Securities and Exchange Commission, and the Canadian Securities Administrators, as applicable. Forward-looking statements speak only as of the date on which they are made, and we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements attributable to us are expressly qualified by these cautionary statements. Contacts: Schedule 1 Supplementary Non-GAAP Financial Measures The non-GAAP financial measures included in this press release are: adjusted gross profit, adjusted selling, general and administrative expenses (SG&A), adjusted operating earnings (or adjusted EBIAT), adjusted net earnings and each of the foregoing measures as a percentage of revenue, adjusted EPS, adjusted ROIC, free cash flow, adjusted tax expense and adjusted effective tax rate. Adjusted EBIAT, adjusted net earnings, adjusted ROIC, free cash flow, adjusted tax expense and adjusted effective tax rate are further described in the tables below. As used herein, 'Q1,' 'Q2,' 'Q3,' and 'Q4' followed by a year refers to the first quarter, second quarter, third quarter and fourth quarter of such year, respectively. We believe the non-GAAP financial measures herein enable investors to evaluate and compare our results from operations by excluding specific items that we do not consider to be reflective of our core operations, to evaluate cash resources that we generate from our business each period, to analyze operating results using the same measures our chief operating decision maker uses to measure performance, and to help compare our results with those of our competitors. In addition, management believes that the use of adjusted tax expense and adjusted effective tax rate provides additional transparency into the tax effects of our core operations, and are useful to management and investors for historical comparisons and forecasting. These non-GAAP financial measures reflect management's belief that the excluded items are not indicative of our core operations. Non-GAAP financial measures do not have any standardized meaning prescribed by GAAP and therefore may not be directly comparable to similar measures presented by other companies. Non-GAAP financial measures are not measures of performance under GAAP and should not be considered in isolation or as a substitute for any GAAP financial measure. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are below. We do not provide reconciliations for our forward-looking non-GAAP financial measures, as we are unable to reasonably estimate the items that we exclude from GAAP to calculate comparable non-GAAP measures without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various events that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking GAAP financial measure. For these same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures may vary materially from the corresponding GAAP financial measures. Our non-GAAP financial measures are calculated by making the following adjustments (as applicable) to our GAAP financial measures: Employee SBC expense , which represents the estimated fair value of stock options, restricted share units and performance share units granted to employees, is excluded because grant activities vary significantly from quarter-to-quarter in both quantity and fair value. We believe excluding this expense allows us to compare core operating results with those of our competitors, who also generally exclude employee SBC expense in assessing operating performance, and may have different granting patterns, equity awards and valuation assumptions. Total return swap fair value adjustments (TRS FVAs) represent mark-to-market adjustments to our TRS Agreement, as the TRS Agreement is re-measured at fair value at each quarter end. We exclude the impact of these non-cash fair value adjustments (which reflect fluctuations in the market price of our common shares recorded in cost of sales or SG&A) from period to period as such fluctuations do not represent our ongoing operating performance. In addition, we believe that excluding these non-cash adjustments permits a helpful comparison of our core operating results to our competitors. Transitional hedge reclassifications and adjustments related to foreign currency forward exchange contracts (FCC Transitional ADJ) were specifically driven by our transition from IFRS to GAAP. For the purpose of determining our non-GAAP measures, FCC Transitional ADJ were made to cost of sales and SG&A. Our foreign currency forward exchange contracts that we entered prior to 2024 were accounted for as either cash flow hedges (qualified for hedge accounting) or economic hedges under IFRS. However, those contracts were not accounted for as such under GAAP until January 1, 2024, resulting in FCC Transitional ADJ. Had we been able to designate those foreign currency forward exchange contracts under GAAP from their inception, they would have qualified as cash flow or economic hedges under GAAP, and no FCC Transitional ADJ would have been required under GAAP. FCC Transitional ADJ do not reflect the on-going operational impacts of our hedging activities and are excluded in assessing operating performance. Amortization of intangible assets (excluding computer software) consist of non-cash charges for intangible assets that are impacted by the timing and magnitude of acquired businesses. Amortization of intangible assets varies among our competitors, and we believe that excluding these charges permits a helpful comparison of core operating results to our competitors who also generally exclude amortization charges in assessing operating performance. Restructuring and Other Charges (Recoveries) consist of, when applicable: Restructuring Charges (Recoveries) (defined below); Transition Costs (Recoveries) (defined below); consulting, transaction and integration costs related to potential and completed acquisitions; legal settlements (recoveries); and commencing in Q2 2023, related costs pertaining to our transition as a U.S. domestic filer. We exclude these charges and recoveries because we believe that they are not directly related to ongoing operating results and do not reflect our expected future operating expenses after completion of the relevant actions. Our competitors may record similar items at different times, and we believe these exclusions permit a helpful comparison of our core operating results with those of our competitors who also generally exclude these items in assessing operating performance. Restructuring Charges (Recoveries) , consist of costs or recoveries relating to: employee severance, lease terminations, site closings and consolidations, accelerated depreciation of owned property and equipment which are no longer used and are available for sale, and reductions in infrastructure. Transition Costs (Recoveries) consist of costs and recoveries in connection with: (i) the transfer of manufacturing lines from closed sites to other sites within our global network; (ii) the sale of real properties unrelated to restructuring actions (Property Dispositions); and (iii) specified charges or recoveries related to the Purchaser Lease (defined below). Transition Costs consist of direct relocation and duplicate costs (such as rent expense, utility costs, depreciation charges, and personnel costs) incurred during the transition periods, as well as cease-use and other costs incurred in connection with idle or vacated portions of the relevant premises that we would not have incurred but for these relocations, transfers and dispositions. As part of our 2019 Toronto real property sale, we entered into a related 10-year lease for our then-anticipated headquarters (Purchaser Lease). In November 2022, we extended the lease (on a long-term basis) on our current corporate headquarters due to several Purchaser Lease commencement date delays. In Q3 2023 and Q2 2025, we executed sublease agreements for the leased space under the Purchaser Lease. We record charges related to the sublet of the Purchaser Lease (which commenced in June 2024) as Transition Costs. We believe that excluding Transition Costs and Recoveries permits a helpful comparison of our core operating results from period-to-period, as they do not reflect our ongoing operations once these specified events are complete. Miscellaneous Expense (Income) consists primarily of: (i) certain net periodic benefit costs (credits) related to our pension and post-employment benefit plans consisting of interest costs and expected returns on pension balances, and amortization of actuarial gains or losses; and (ii) gains or losses related to foreign currency forward exchange contracts and interest rate swaps that we entered into prior to 2024. Those derivative instruments were accounted for as either cash flow hedges (qualifying for hedge accounting) or economic hedges under IFRS. However, those contracts were not accounted for as such under GAAP until January 1, 2024. Certain gains and losses related to those contracts were recorded in Miscellaneous Expense (Income). See FCC Transitional ADJ above. We exclude such items because we believe they are not directly related to our ongoing operating results. Tax effects of the non-core items, which include our non-GAAP adjustments above, are excluded from GAAP tax expense to calculate adjusted tax expense (non-GAAP), as we do not believe these costs or recoveries reflect our core operating performance and vary significantly among our competitors who also generally exclude such items in assessing operating performance. Our non-GAAP financial measures include the following: Adjusted operating earnings (Adjusted EBIAT) is defined as GAAP earnings from operations excluding the impact of Employee SBC expense, TRS FVAs, FCC Transitional ADJ, Amortization of intangible assets (excluding computer software), and Restructuring and Other Charges (Recoveries). Adjusted operating margin is adjusted operating earnings as a percentage of GAAP revenue. Management uses adjusted operating earnings (adjusted EBIAT) as a measure to assess performance related to our core operations. Adjusted net earnings is defined as GAAP net earnings excluding the impact of Employee SBC expense, TRS FVAs, FCC Transitional ADJ, amortization of intangible assets (excluding computer software), Restructuring and Other Charges (Recoveries), Miscellaneous Expense (Income) and adjustment for taxes. Adjusted EPS is calculated by dividing adjusted net earnings by the number of diluted weighted average shares outstanding. Management uses adjusted net earnings as a measure to assess performance related to our core operations. Free cash flow is defined as cash provided by (used in) operations less the purchase of property, plant and equipment (net of proceeds from the sale of certain surplus equipment and property, when applicable). Free cash flow does not represent residual cash flow available to Celestica for discretionary expenditures. Management uses free cash flow as a measure, in addition to GAAP cash provided by (used in) operations, to assess our operational cash flow performance. We believe free cash flow provides another level of transparency to our ability to generate cash from normal business operations. Adjusted ROIC is calculated by dividing annualized adjusted EBIAT by average net invested capital for the period. Net invested capital (calculated in the tables below) is derived from GAAP financial measures, and is defined as total assets less: cash, right-of-use (ROU) assets (operating and finance leases), accounts payable, accrued and other current liabilities (excluding finance and operating lease liabilities), provisions, and income taxes payable. Management uses adjusted ROIC as a measure to assess the effectiveness of the invested capital we employ to build products or provide services to our customers, by quantifying how well we generate earnings relative to the capital we have invested in our business. The following table (which is unaudited) sets forth, for the periods indicated, the various non-GAAP financial measures discussed above, and a reconciliation of such non-GAAP financial measures to the most directly comparable financial measures determined under GAAP (in millions, except percentages and per share amounts): The following table sets forth, for the periods indicated, our calculation of GAAP ROIC % and adjusted ROIC % (non-GAAP) (in millions, except GAAP ROIC % and adjusted ROIC %): * We use a two-point average to calculate average net invested capital for the quarter and a three-point average to calculate average net invested capital for the six-month period. Average net invested capital for Q2 2025 is the average of net invested capital as at June 30, 2025 and March 31, 2025 and average net invested capital for 1H 2025 is the average of net invested capital as at June 30, 2025, March 31, 2025 and December 31, 2024.
Hamilton Spectator
2 hours ago
- Hamilton Spectator
Atico Mining Announces Closing of the Fully Subscribed $3.2M LIFE Offering, Raising $6.5M Combined with the Rights Offering
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, July 28, 2025 (GLOBE NEWSWIRE) — Atico Mining Corporation (the 'Company' or 'Atico') (TSX.V: ATY | OTC: ATCMF) is pleased to announce the closing of its offering under the listed issuer financing exemption (the 'LIFE Offering'), previously disclosed in the Company's press releases dated June 9, 2025, June 13, 2025 and July 22, 2025. Under the LIFE Offering, Atico sold 29,090,910 units of the Company (the 'LIFE Units'), at a subscription price of $0.11 per LIFE Unit, for gross proceeds of $3,200,000. Under the LIFE Offering and the Company's rights offering that closed on July 22, 2025 (the 'Rights Offering', and together with the LIFE Offering, the 'Offerings'), the Company raised aggregate gross proceeds of $6,487,572.42. 'We are thrilled with the successful completion of our Rights and LIFE Offerings, which have significantly strengthened our financial foundation. This achievement positions us to advance our strategic goals at both El Roble mine and the La Plata project.' said Fernando E. Ganoza, CEO. 'I extend my gratitude to our loyal shareholders, new investors, and company insiders for their substantial support and trust in our vision. Together, we are poised to steer back the company toward becoming a top mid-tier producer.' Each LIFE Unit consisted of one common share of the Company (a 'Common Share') and one transferable Common Share purchase warrant (a 'LIFE Warrant'), with each LIFE Warrant exercisable into one Common Share (a 'LIFE Warrant Share') at a price of $0.18 per LIFE Warrant Share for a period of two years from the issue date. In connection with the LIFE Offering, PowerOne Capital Markets Limited (the 'Finder') acted as finder in connection with a portion of the LIFE Offering. The Company paid a cash finder's fee of approximately $62,820 and issued 571,091 non-transferable Common Share purchase warrants (the 'Finder Warrants') to the Finder, an arm's length party to the Company. Each Finder Warrant is exercisable for one Common Share at an exercise price of $0.18 for a period of two years following the closing date of the LIFE Offering. The LIFE Units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions . Certain LIFE Units were also issued in the United States pursuant to exemptions from the registration requirements in Regulation D of the U.S. Securities Act of 1933, as amended. The Company intends to use the net proceeds from the Offerings to pay for development of the Company's La Plata project in Ecuador (the 'La Plata Project'), additional drilling at the Company's El Roble mine in Colombia (the 'El Roble Mine'), and for general corporate purposes. Following closing of the LIFE Offering, the Company has a total of 180,264,117 Common Shares outstanding. Certain officers of the Company, considered 'related parties' under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction ('MI 61-101'), acquired an aggregate of 590,001 LIFE Units under the LIFE Offering. Accordingly, the LIFE Offering constituted a related party transaction under MI 61-101. The LIFE Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed or quoted on any of the stock exchanges or markets listed in subsection 5.5(b) of MI 61-101, and the fair market value of the securities distributed and the consideration received for the securities under the LIFE Offering does not exceed 25% of the Company's market capitalization. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or under any state securities laws in the United States, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. About Atico Mining Corporation Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit . ON BEHALF OF THE BOARD Fernando E. Ganoza CEO Atico Mining Corporation Trading symbols: TSX.V: ATY | OTCQX: ATCMF Investor Relations Igor Dutina Tel: +1.604.729.5765 Neither the TSX Venture Exchange (the 'TSXV') nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements'). These statements relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'anticipates', 'believes', 'estimates', 'expects', 'confirm' and similar expressions, or the negatives of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might', or 'will' be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date hereof or as of the date specified in such statement. Specifically, this news release includes, but is not limited to, forward-looking statements regarding the use of proceeds from the Offerings. Inherent in forward-looking statements are risks, uncertainties and other factors beyond Atico's ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, risks associated with the Company's outstanding debt, including amounts due and payable to each of Trafigura PTE. Ltd. and Dundee Corporation ('Dundee') on or before July 25, 2025 and December 30, 2025, respectively, or the ability to successfully negotiate to amend or extend the terms of the convertible debenture with Dundee; the availability and cost of funds; discretion in the Company's use of available funds from the Offerings; risks relating to negative operating cash flows of the Company; dilution of the shareholdings of shareholders who did not exercise all of their rights under the Rights Offering ('Rights'); irrevocability of the exercise of Rights by a shareholder; the possibility that the subscription price is not indicative of the Company's value; if a shareholder fails to follow the subscription procedure and abide by the subscription deadline their subscription may be rejected; mining operations; market fluctuations in commodity prices; title risks and surface rights and access; changes in legislation; political instability; government or regulatory approvals; non-compliance with laws and regulations and compliance costs; environmental compliance; climate change; uninsured and uninsurable risks; water disposal, tailings and reclamation obligations; financing risks; risks associated with outstanding debt; global economic conditions; availability and costs of supplies; community relations; mineral reserve and mineral resource estimates; future production rates; labour relations; currency fluctuations; the Company may engage in hedging activities; infrastructure; exploration and development capital expenditures; social media and reputation; negative publicity; human rights; business objectives; concentrate sales risks; shortage of personnel; health and safety; pandemics, epidemics or infectious disease outbreak; physical security; conflicts of interest; claims and legal proceedings; information systems and cyber security; internal controls; violation of anti-bribery or corruption laws; competition; tax considerations; compliance with listing standards; enforcement of civil liabilities; financing requirement risks; market price volatility of Common Shares; and other risks and uncertainties related to the Company's business and the Offerings, including those described in the Company's public disclosure documents on SEDAR+ at . Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ and may differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such statements are based on a number of assumptions which may prove to be incorrect, including but not limited to, (1) the Company's ability to generate positive cash flows from ongoing operations at the El Roble Mine, including the ability to sell its mineral concentrates in inventory; (2) that all required third party contractual, regulatory and governmental approvals will be obtained for the development, construction and production of the Company's properties, (3) there being no significant disruptions affecting operations, whether due to labor disruptions, supply disruptions, power disruptions, damage to equipment, non-renewal of title to the Company's claims or otherwise, (4) permitting, development, expansion and power supply proceeding on a basis consistent with the Company's current expectations, (5) currency exchange rates being approximately consistent with current levels, (6) certain price assumptions for copper, gold, zinc and silver, (7) prices for and availability of fuel oil, electricity, parts and equipment and other key supplies remaining consistent with current levels, (8) production forecasts meeting expectations, (9) the accuracy of the Company's current mineral resource and reserve estimates, (10) labor and materials costs increasing on a basis consistent with the Company's current expectations, (11) matters related to the ongoing dispute with the National Mining Agency in Colombia, and (12) general marketing, political, business and economic conditions. Forward-looking statements may be affected by known and unknown risks, uncertainties and other factors including without limitation, those referred to in the Offering Documents that may cause Atico's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law. If Atico does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law.
Hamilton Spectator
2 hours ago
- Hamilton Spectator
Brown & Brown, Inc. announces second quarter 2025 results, including total revenues of $1.3 billion, an increase of 9.1%; Organic Revenue growth of 3.6%; diluted net income per share of $0.78; and Diluted Net Income Per Share - Adjusted of $1.03
DAYTONA BEACH, Fla., July 28, 2025 (GLOBE NEWSWIRE) — Brown & Brown, Inc. (NYSE:BRO) (the 'Company') announced its unaudited financial results for the second quarter of 2025. Revenues for the second quarter of 2025 under U.S. generally accepted accounting principles ('GAAP') were $1.3 billion, increasing $107 million, or 9.1%, compared to the second quarter of the prior year, with commissions and fees increasing by 8.2% and Organic Revenue increasing by 3.6%. Income before income taxes was $311 million, decreasing 10.1% from the second quarter of the prior year with Income Before Income Taxes Margin decreasing to 24.2% from 29.4%. EBITDAC - Adjusted was $471 million, increasing 12.1% from the second quarter of the prior year with EBITDAC Margin - Adjusted increasing to 36.7% from 35.7%. Net income attributable to the Company was $231 million, decreasing $26 million, or 10.1%, and diluted net income per share decreased to $0.78, or 13.3%, with Diluted Net Income Per Share - Adjusted increasing to $1.03, or 10.8%, each as compared to the second quarter of the prior year. Revenues for the six months ended June 30, 2025 under GAAP were $2.7 billion, increasing $254 million, or 10.4%, as compared to the same period in 2024, with commissions and fees increasing by 10.2%, and Organic Revenue increasing by 5.1%. Income before income taxes was $738 million, increasing 3.7% with Income Before Income Taxes Margin decreasing to 27.4% from 29.2% as compared to the same period in 2024. EBITDAC - Adjusted was $1.0 billion, which was an increase of 13.6% and EBITDAC Margin - Adjusted increased to 37.4% from 36.3% as compared to the same period in 2024. Net income attributable to the Company was $563 million, increasing $13 million, or 2.4%, with diluted net income per share increasing to $1.93, or 0.5%, and Diluted Net Income Per Share - Adjusted increasing to $2.32, or 12.1%, each as compared to the same period in 2024. J. Powell Brown, president and chief executive officer of the Company, noted, 'We are pleased with the earnings for the quarter and have good momentum as we head into the second half of the year.' See information regarding non-GAAP measures presented later in this press release. See information regarding non-GAAP measures presented later in this press release. (1) 'Income Before Income Taxes Margin' is defined as income before income taxes divided by total revenues. (2) 2025 amounts reflect the positive impact of approximately $13 million of interest income earned from the proceeds of the Company's follow-on common stock offering and senior notes issuance in June 2025, held in preparation for the closing of the Company's pending acquisition of RSC Topco, Inc. ('RSC' or 'Accession'). See information regarding non-GAAP measures presented later in this press release. Conference call, webcast and slide presentation A conference call to discuss the results of the second quarter of 2025 will be held on Tuesday, July 29, 2025, at 8:00 AM (EDT). The Company may refer to a slide presentation during its conference call. You can access the webcast and the slides from the 'Investor Relations' section of the Company's website at . About Brown & Brown Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, providing customer-centric risk management solutions since 1939. With a global presence spanning 500+ locations and a team of more than 17,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at . Forward-looking statements This press release may contain certain statements relating to future results which are '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, which are intended to be covered by the safe harbors created by those laws. You can identify these statements by forward-looking words such as 'may,' 'will,' 'should,' 'expect,' 'anticipate,' 'believe,' 'intend,' 'estimate,' 'plan' and 'continue' or similar words. We have based these statements on our current expectations about potential future events. Although we believe the expectations expressed in the forward-looking statements included in this press release are based upon reasonable assumptions within the bounds of our knowledge of our business, a number of factors could cause actual results to differ materially from those expressed in any forward-looking statements, whether oral or written, made by us or on our behalf. Many of these factors have previously been identified in filings or statements made by us or on our behalf. Important factors which could cause our actual results to differ, possibly materially from the forward-looking statements in this press release include but are not limited to the following items: the Company's determination as it finalizes its financial results for the second quarter of 2025 that its financial results differ from the current preliminary unaudited numbers set forth herein; risks with respect to the timing and completion of the acquisition of Accession (the 'Transaction'); the possibility that the anticipated benefits, including any anticipated costs saving and strategies, of the Transaction are not realized when expected or at all; risks related to the financing of the Transaction, including that financing the Transaction will result in an increase in the Company's indebtedness; risks relating to the financial information related to Accession; risks related to Accession's business, including underwriting risk in connection with certain captive insurance companies; the risk that certain assumptions the Company has made relating to the Transaction prove to be materially inaccurate; the inability to hire, retain and develop qualified employees, as well as the loss of any of our executive officers or other key employees; a cybersecurity attack or any other interruption in information technology and/or data security that may impact our operations or the operations of third parties that support us; acquisition-related risks that could negatively affect the success of our growth strategy, including the possibility that we may not be able to successfully identify suitable acquisition candidates, complete acquisitions, successfully integrate acquired businesses into our operations and expand into new markets; risks related to our international operations, which may result in additional risks or require more management time and expense than our domestic operations to achieve or maintain profitability; the requirement for additional resources and time to adequately respond to dynamics resulting from rapid technological change; the loss of or significant change to any of our insurance company or intermediary relationships, which could result in loss of capacity to write business, additional expense, loss of market share or material decrease in our commissions; the effect of natural disasters on our profit-sharing contingent commissions, insurer capacity or claims expenses within our capitalized captive insurance facilities; adverse economic conditions, political conditions, outbreaks of war, disasters, or regulatory changes in states or countries where we have a concentration of our business; the inability to maintain our culture or a significant change in management, management philosophy or our business strategy; fluctuations in our commission revenue as a result of factors outside of our control; the effects of significant or sustained inflation or higher interest rates; claims expense resulting from the limited underwriting risk associated with our participation in capitalized captive insurance facilities; risks associated with our automobile and recreational vehicle dealer services ('F&I') businesses; changes in, or the termination of, certain programs administered by the U.S. federal government from which we derive revenues; the limitations of our system of disclosure and internal controls and procedures in preventing errors or fraud, or in informing management of all material information in a timely manner; our reliance on vendors and other third parties to perform key functions of our business operations and provide services to our customers; the significant control certain shareholders have; changes in data privacy and protection laws and regulations or any failure to comply with such laws and regulations; improper disclosure of confidential information; our ability to comply with non-U.S. laws, regulations and policies; the potential adverse effect of certain actual or potential claims, regulatory actions or proceedings on our businesses, results of operations, financial condition or liquidity; uncertainty in our business practices and compensation arrangements with insurance carriers due to potential changes in regulations; regulatory changes that could reduce our profitability or growth by increasing compliance costs, technology compliance, restricting the products or services we may sell, the markets we may enter, the methods by which we may sell our products and services, or the prices we may charge for our services and the form of compensation we may accept from our customers, carriers and third-parties; increasing scrutiny and changing laws and expectations from regulators, investors and customers with respect to our environmental, social and governance practices and disclosure; a decrease in demand for liability insurance as a result of tort reform legislation; our failure to comply with any covenants contained in our debt agreements; the possibility that covenants in our debt agreements could prevent us from engaging in certain potentially beneficial activities; fluctuations in foreign currency exchange rates; a downgrade to our corporate credit rating, the credit ratings of our outstanding debt or other market speculation; changes in the U.S.-based credit markets that might adversely affect our business, results of operations and financial condition; changes in current U.S. or global economic conditions, including an extended slowdown in the markets in which we operate; disintermediation within the insurance industry, including increased competition from insurance companies, technology companies and the financial services industry, as well as the shift away from traditional insurance markets; conditions that result in reduced insurer capacity; quarterly and annual variations in our commissions that result from the timing of policy renewals and the net effect of new and lost business production; intangible asset risk, including the possibility that our goodwill may become impaired in the future; changes in our accounting estimates and assumptions; future pandemics, epidemics or outbreaks of infectious diseases, and the resulting governmental and societal responses; other risks and uncertainties as may be detailed from time to time in our public announcements and Securities and Exchange Commission ('SEC') filings; and other factors that the Company may not have currently identified or quantified. Assumptions as to any of the foregoing, and all statements, are not based upon historical fact, but rather reflect our current expectations concerning future results and events. Forward-looking statements that we make or that are made by others on our behalf are based upon a knowledge of our business and the environment in which we operate, but because of the factors listed above, among others, actual results may differ from those in the forward-looking statements. Consequently, these cautionary statements qualify all of the forward-looking statements we make herein. We cannot assure you that the results or developments anticipated by us will be realized, or even if substantially realized, that those results or developments will result in the expected consequences for us or affect us, our business or our operations in the way we expect. We caution readers not to place undue reliance on these forward-looking statements. All forward-looking statements made herein are made only as of the date of this press release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter becomes aware. Non-GAAP supplemental financial information This press release contains references to 'non-GAAP financial measures' as defined in SEC Regulation G, consisting of Organic Revenue, EBITDAC, EBITDAC Margin, EBITDAC - Adjusted, EBITDAC Margin - Adjusted and Diluted Net Income Per Share - Adjusted. We present these measures because we believe such information is of interest to the investment community and because we believe they provide additional meaningful methods to evaluate the Company's operating performance from period to period on a basis that may not be otherwise apparent on a GAAP basis due to the impact of certain items that have a high degree of variability, that we believe are not indicative of ongoing performance and that are not easily comparable from period to period. This non-GAAP financial information should be considered in addition to, not in lieu of, GAAP information as of the relevant date. Consistent with Regulation G, a description of such information is provided below and a reconciliation of such items to GAAP information can be found within this press release as well as in our periodic filings with the SEC. We view Organic Revenue and Organic Revenue growth as important indicators when assessing and evaluating our performance on a consolidated basis and for each of our three segments, because it allows us to determine a comparable, but non-GAAP, measurement of revenue growth that is associated with the revenue sources that were a part of our business in both the current and prior year and that are expected to continue in the future. In addition, we believe Diluted Net Income Per Share - Adjusted provides a meaningful representation of our operating performance and improves the comparability of our results between periods by excluding the impact of the change in estimated acquisition earn-out payables, the impact of amortization of intangible assets and certain other non-recurring or infrequently occurring items. We also view EBITDAC, EBITDAC - Adjusted, EBITDAC Margin and EBITDAC Margin - Adjusted as important indicators when assessing and evaluating our performance, as they present more comparable measurements of our operating margins in a meaningful and consistent manner. As disclosed in our most recent proxy statement, we use Organic Revenue growth, Diluted Net Income Per Share - Adjusted and EBITDAC Margin - Adjusted as key performance metrics for our short-term and long-term incentive compensation plans for executive officers and other key employees. Non-GAAP Revenue Measures Non-GAAP Earnings Measures Definitions Related to Certain Components of Non-GAAP Measures Our industry peers may provide similar supplemental non-GAAP information with respect to one or more of these measures, although they may not use the same or comparable terminology and may not make identical adjustments and, therefore comparability may be limited. This supplemental non-GAAP financial information should be considered in addition to, and not in lieu of, the Company's condensed consolidated financial statements. For more information: R. Andrew Watts Chief Financial Officer (386) 239-5770
