PURE Bioscience Unveils Revolutionary Membrane Treatment Solution for the Dairy and Beverage Industry
Tom Myers, EVP of Technology & Development at PURE Bioscience, stated, "The introduction of PURE Hard Surface to the Dairy and Beverage industry represents a significant advancement in membrane treatment technology. This product delivers unmatched efficiency and enhances filtration operation and longevity."
Key Attributes of PURE Hard Surface for Membrane Treatment:
One Treatment—Zero Compromises: Achieve superior results with just one treatment. PURE Hard Surface effectively removes fouling, restores flow, and delays the need for membrane replacement without compromising membrane integrity.
Proven Performance: Our solution boasts results with successful treatments demonstrating an impressive 4+ log reduction in 120 seconds. Additionally, it is NSF-listed, making it ideal for eliminating harmful bacteria in the dairy industry without causing membrane oxidation.
Complete Penetration in Minutes: In practical applications, our treatment has shown complete membrane penetration within 5 minutes for reverse osmosis (RO) systems, effectively scrubbing away fouling and restoring throughput. Similarly, our ultrafiltration treatment (UF) systems resulted in immediate penetration and unmatched restoration of throughput while sanitizing to meet stringent quality specifications.
Simplicity and Effectiveness: Membrane operators prefer PURE Hard Surface for its no-hassle approach. The ready-to-use formula requires no mixing—fill and go. Plus, with the lowest EPA toxicity rating, there is no need for personal protective equipment, making it highly safe for staff.
Environmentally Safe: Our treatment poses no risks to wastewater systems, ensuring no impact on digesters or discharge permit compliance.
Cost-Effective Solution: With just one treatment, manufacturers can sell full-priced finished goods, reduce operational costs, and significantly prolong the lifespan of their membranes, contributing to overall operational efficiency.
"Our SDC technology is redefining what's possible in the food industry – and PURE Hard Surface is at the forefront," said Tim Steffensmeier, Vice President of Sales. "This modern membrane application brings a smarter, more efficient approach to streamlining operation, delivering a measurable cost savings, and empowers manufacturers to uphold the highest quality standards in the industry, without the negative trade-offs of traditional chemistry."
Discover the transformative benefits of PURE Hard Surface for membrane treatment. For more information, visit www.purebio.com/membrane, contact one of our key distributors, or come to our booth at the Dairy Foods Membrane Technology Forum, June 2-4, 20025 in Bloomington, MN.
How SDC Works
SDC kills microorganisms by two modes of action: 1) the silver ion deactivates structural and metabolic membrane proteins, leading to microbial death; 2) the microbes view SDC as a food source, allowing the silver ion to enter the microbe. Once inside the organism, the silver ion denatures the DNA, which halts the microbe's ability to replicate and leads to its death. This dual action makes SDC highly and quickly effective against a broad spectrum of microbes. Traditional silver-based disinfectants have short shelf lives – from hours to days. SDC is a stabilized silver ion complex with a shelf life of several years. The unique bond between the silver ions in SDC allows them to remain in solution while making them more bioavailable for antimicrobial action.
About PURE Bioscience, Inc.
PURE focuses on developing and commercializing our proprietary antimicrobial products, primarily in food safety. We provide best-in-class solutions to combat the health and environmental challenges of pathogens and hygienic control. Our technology platform is based on patented, stabilized ionic silver, and our initial products contain silver dihydrogen citrate, better known as SDC. This broad-spectrum, non-toxic antimicrobial agent formulates well with other compounds. As a platform technology, SDC is distinguished from existing products in the marketplace because of its superior efficacy, reduced toxicity, and mitigation of bacterial resistance. PURE's mailing address is 771 Jamacha Rd. #512, El Cajon, California 92019 (San Diego County area), which serves as its official address for all business requirements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250602576635/en/
Contacts
Tim Steffensmeier, Vice President of SalesEmail: tsteffensmeier@purebio.com
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See '—Reconciliation of non-GAAP financial measures' for a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP measure. (2) For the three and six months ended June 30, 2025 and 2024, net income attributable to stockholders and adjusted net income attributable to stockholders are annualized to arrive at return on stockholders' equity and adjusted return on stockholders' equity. (3) Ratios are calculated using unrounded figures. The sum of components may differ slightly from totals shown due to rounding. Expand Gross Written Premiums The following table presents gross written premiums by product for the three and six months ended June 30, 2025 and 2024: Expense Ratio The following tables summarize the components of our expense ratio for the three and six months ended June 30, 2025 and 2024: (1) Net of fee income of $1.5 million and $0.2 million for the three months ended June 30, 2025 and 2024, respectively. (2) Ratios are calculated using unrounded figures. The sum of components may differ slightly from totals shown due to rounding. Expand Investment results The following tables summarize net investment income and net realized and unrealized gains on investments for the three and six months ended June 30, 2025 and 2024: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2025 2024 2025 2024 Investment income Fixed-maturity securities $ 6,460 $ 2,634 $ 12,725 $ 3,521 Short-term investments 1,154 767 1,724 2,281 Cash equivalents 475 1,612 911 3,604 Equity securities — 22 — 44 Loans to affiliates 1,543 250 1,793 501 Securities sold not yet purchased — (103 ) — (235 ) Total fixed income 9,632 5,182 17,153 9,716 Utility & Infrastructure Investments 2,422 658 2,931 1,384 Other expenses (163 ) (112 ) (298 ) (119 ) Net investment income $ 11,891 $ 5,728 $ 19,786 $ 10,981 Net realized and unrealized gains (losses) on investments $ 1,409 $ (4,215 ) $ (3,190 ) $ (1,828 ) Expand Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, we believe that certain non-GAAP financial measures provide investors in our common stock with additional useful information in evaluating our performance. Management believes that excluding certain items that are not indicative of core performance assists in evaluating our ability to generate earnings and to more readily compare these metrics between past and future periods. These non-GAAP financial measures may be different than similarly titled measures used by other companies. These non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP. There are limitations related to the use of these non-GAAP financial measures as compared to the most directly comparable GAAP financial measures. Underwriting Income We define underwriting income as income before income taxes excluding the impact of net investment income, net realized and unrealized gains (losses) on investments, other income, interest expense, and other expenses (which include expenses related to corporate activities and expenses recorded by us in connection with the Company's initial public offering). Underwriting income is a measure of the pre-tax profitability of our underwriting operations and allows us to evaluate our underwriting performance without regard to net investment income among other things. We use this metric as we believe it gives our management and other users of our financial information useful insight into our underlying business performance. Underwriting income should not be viewed as a substitute for income before income taxes calculated in accordance with GAAP and other companies may define underwriting income differently. Underwriting income for the three and six months ended June 30, 2025 and 2024 reconciles to income before income taxes as follows: Adjusted net income attributable to stockholders (previously referred to as adjusted net income attributable to members) We define adjusted net income attributable to stockholders as net income attributable to stockholders excluding certain other non-operating expenses, which include expenses recorded by us in connection with the Company's initial public offering. We use adjusted net income attributable to stockholders as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. Adjusted net income attributable to stockholders should not be viewed as a substitute for net income attributable to stockholders calculated in accordance with GAAP, and other companies may define adjusted net income differently. Adjusted net income attributable to stockholders for the three and six months ended June 30, 2025 and 2024 reconciles to net income attributable to stockholders as follows: Three Months Ended June 30, Six Months Ended June 30, ($ in thousands) 2025 2024 2025 2024 Net income attributable to stockholders $ 17,622 $ 4,944 $ 26,083 $ 12,700 Adjustments: Other non-operating expenses (1) 298 — 401 — Tax impact (63 ) — (84 ) — Adjusted net income attributable to stockholders $ 17,857 $ 4,944 $ 26,400 $ 12,700 Expand (1) In the three and six months ended June 30, 2025, other non-operating expenses includes share-based compensation expenses recorded by us related to our initial public offering. Expand Adjusted return on stockholders' equity (previously referred to as adjusted return on members' equity) We define adjusted return on stockholders' equity as adjusted net income attributable to stockholders, expressed as a percentage of average beginning and ending stockholders' equity during the period. Adjusted net income attributable to stockholders excludes the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We use adjusted return on stockholders' equity as an internal performance measure in the management of our operations because we believe it gives our management and other users of our financial information useful insight into our results of operations and our underlying business performance. 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These forward-looking statements are based on management's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those expressed in, or implied by, the forward-looking statements included in this press release as a result of various factors, including, among others: the risks and uncertainties discussed under the caption 'Risk Factors' in our Prospectus filed pursuant to Rule 424(b)(4) filed with the Securities and Exchange Commission, (the 'SEC') on June 11, 2025 and our other filings with the SEC. Accordingly, you should read this press release completely and with the understanding that our actual future results may be materially different from what we expect. Forward-looking statements speak only as of the date of this press release. Except as expressly required under federal securities laws and the rules and regulations of the SEC, we do not have any obligation, and do not undertake, to update any forward-looking statements to reflect events or circumstances arising after the date of this press release, whether as a result of new information, future events, or otherwise. You should not place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by us, or on our behalf. All forward-looking statements attributable to us are expressly qualified by these cautionary statements. (Unaudited) December 31, 2024 (in thousands, except shares and par value data) Assets: Fixed maturity securities available-for-sale, at fair value (amortized cost: $415,406 in 2025 and $434,965 in 2024) $ 419,247 $ 438,752 Utility & Infrastructure Investments, at fair value (cost of $172,753 in 2025 and $216,075 in 2024) 176,332 270,242 Short-term investments 251,906 52,612 Loans to affiliates 107,501 13,501 Other invested assets 280 280 Total invested assets 955,266 775,387 Cash and cash equivalents 23,529 26,573 Due from broker 2,035 — Investment income due and accrued 6,539 5,642 Premiums receivable, net of allowance for credit losses of $6,091 in 2025 and $5,907 in 2024 89,156 53,500 Deferred policy acquisition costs, net of ceding commissions 27,583 21,552 Prepaid reinsurance premiums 6,679 3,905 Deferred income tax asset, net 10,322 9,670 Reinsurance recoverable, net of allowance for credit losses of $0 in 2025 and $0 in 2024 155,432 133,616 Receivable from affiliates, net 744 16,857 Ceded unearned premiums 73,163 68,205 Other assets 12,704 8,531 Total assets $ 1,363,152 $ 1,123,438 Liabilities, stockholders' equity and non-controlling interest: Liabilities: Reserves for unpaid losses and loss adjustment expenses 451,466 403,576 Unearned premiums 259,700 212,828 Securities sold, not yet purchased, at fair value (cost of $0 in 2025 and $932 in 2024) — 930 Payable to reinsurers 38,124 27,160 Due to broker — 9,189 Accounts payable and accrued expenses 31,067 38,061 Funds held under reinsurance treaties 1,982 2,092 Income tax payable 17,249 26,488 Other liabilities 3,391 4,307 Total liabilities 802,979 724,631 Stockholders' equity: Preferred stock, $0.001 par value, 100,000,000 shares authorized and none issued or outstanding. — — Common stock, $0.001 par value, 500,000,000 shares authorized, 48,066,674 and 38,386,433 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively. 48 38 Additional paid-in capital 495,954 360,703 Retained earnings 60,652 34,569 Accumulated other comprehensive income 3,035 2,997 Total stockholders' equity 559,689 398,307 Non-controlling interest - General Partner 484 500 Total stockholders' equity and non-controlling interest 560,173 398,807 Total liabilities, stockholders' equity and non-controlling interest $ 1,363,152 $ 1,123,438 Expand Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) Revenues Gross written premiums $ 167,502 $ 126,614 $ 283,645 $ 208,219 Ceded written premiums (50,231 ) (41,838 ) (76,503 ) (61,187 ) Net written premiums 117,271 84,776 207,142 147,032 Change in unearned premiums (30,343 ) (12,138 ) (41,913 ) (6,115 ) Net premiums earned 86,928 72,638 165,229 140,917 Fee income 1,524 191 2,084 316 Net investment income 11,891 5,728 19,786 10,981 Net realized and unrealized gains (losses) on investments 1,409 (4,215 ) (3,190 ) (1,828 ) Other income 28 24 993 48 Total revenues 101,780 74,366 184,902 150,434 Expenses Losses and loss adjustment expenses 50,412 44,128 97,274 85,174 Underwriting, acquisition and insurance expenses 28,430 24,315 53,315 47,705 Interest expense 447 544 894 1,094 Other expenses 161 56 399 110 Total expenses 79,450 69,043 151,882 134,083 Income before income taxes 22,330 5,323 33,020 16,351 Income tax expense 4,713 1,207 6,953 3,277 Net income 17,617 4,116 26,067 13,074 (5 ) (828 ) (16 ) 374 Net income attributable to stockholders 17,622 4,944 26,083 12,700 Other comprehensive income: Unrealized gains (losses), net of taxes 152 840 38 3,349 Total comprehensive income attributable to stockholders $ 17,774 $ 5,784 $ 26,121 $ 16,049 Earnings per share: Basic $ 0.40 $ 0.14 $ 0.61 $ 0.35 Diluted $ 0.39 $ 0.14 $ 0.60 $ 0.35 Weighted-average shares outstanding: Basic 42,084,982 36,242,682 41,191,609 36,235,158 Diluted 43,584,999 36,243,959 42,246,997 36,235,950 Expand
Business Wire
11 minutes ago
- Business Wire
AlTi Global, Inc. Reports Second Quarter 2025 Financial Results
NEW YORK--(BUSINESS WIRE)--AlTi Global, Inc. (NASDAQ: ALTI) ('AlTi" or the 'Company'), a leading independent global wealth manager with approximately $88 billion in assets in its Wealth Management and Capital Solutions business, today announced financial results for the second quarter ended June 30, 2025. A presentation of the Company's results for the second quarter ended June 30, 2025 can be found on the Events & Presentation section of the AlTi investor relations website. Webcast and Earnings Conference Call Management will host a webcast and conference call on Monday, August 11, 2025 at 5:00 pm ET to provide a business update and discuss the financial results for the quarter. The call can be accessed by dialing (877) 704-4453 (domestic) or (201) 389-0920 (international). Alternatively, participants can register for the call using the following link for instant telephone access to the conference call 15 minutes prior to the scheduled start time. A webcast will also be broadcast live on the Events & Presentations section of the AlTi investor relations website. A telephone replay will be made available approximately three hours after the conclusion of the call and remain available until August 25, 2025. To access the replay, dial (844) 512-2921 (domestic) or (412) 317-6671 (international). A replay of the webcast will be available on AlTi's investor relations website for one year following the conference call. About AlTi Global, Inc. AlTi is a leading independent global wealth manager providing entrepreneurs, multi-generational families, institutions, and emerging next-generation leaders with fiduciary advisory services as well as alternative investment strategies. AlTi's comprehensive offering is underscored by a commitment to impact or values-aligned investing. The firm currently manages or advises approximately $88 billion in AUM/AUA in its Wealth Management and Capital Solutions business and has an expansive network with over 500 professionals across three continents. For more information, please visit us at
