Sinopec Sets New Vertical Well Depth Record of 5,300 Meters
BEIJING, May 14, 2025 /CNW/ -- China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") has announced a major shale gas exploration breakthrough of its Project Deep Earth - Sichuan and Chongqing Natural Gas Base, that its Tiebei 1HF well has been tested at a high daily output of 314,500 cubic meters of industrial gas flow. The vertical depth of the well reaches over 5,300 meters with a 1,312-meter-long horizontal section, setting a new record for vertical depth of shale gas wells in China.
The breakthrough will boost the gas reserves and production efficiency in the Puguang area as well as contribute to the development of ultra-deep shale gas in the Sichuan Basin. The Puguang gas and oil field is the first extra-large deep and high-sulfur gas field in China with large-scale development and has been efficiently developed for 20 years.
To achieve the goal of long-term stable shale gas production, Sinopec is constantly looking for new resources and eyed the Puguang Upper Permian, but most of the resources are distributed in the ultra-deep field with a burial depth of over 4,500 meters, which is regarded as a "forbidden zone" because of the rapid changes in the velocity of the strata. Sinopec tackled the bottleneck through extensive research and technological innovations to realize a 100 percent drilling encounter rate of high-quality shale in horizontal section with drilling precision comparable to "threading a needle in the deep underground" to eventually drill the Tiebei 1HF well successfully.
Sinopec's self-developed 175 MPa ultrahigh-pressure (UHP) fracturing equipment dynamically optimizes the parameters on-site with different strategies for each section and opened up a "man-made gas road" in the high-pressure stratum at the depth of 5,300 meters, bringing back all the resources from the deepest and farthest ends of the gas reservoir to maximize the development.
At present, Sinopec Zhongyuan Oilfield is preparing an overall exploration and development plan for the Upper Permian shale gas in Puguang to promote the efficient transformation of resources.
The exploration and development of shale gas are of strategic importance to China's energy landscape, and Sinopec actively takes the responsibility and discovered the Fuling shale gas field in 2012, which kicked off commercial development of shale gas in China, and Sinopec continues to promote high-quality development of China's shale gas industry.
For more information, please visit http://www.sinopec.com/listco/en/.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
an hour ago
- Cision Canada
4Front Initiates Bankruptcy and Insolvency Act Proceedings in Canada
PHOENIX, June 10, 2025 /CNW/ - 4Front Ventures Corp. (" 4Front" or the " Company") (CSE: FFNT) (OTC: FFNTF), a vertically integrated cannabis operator, announces that, following its previously announced U.S. receivership petition, it has made an assignment into bankruptcy pursuant to the Canadian Bankruptcy and Insolvency Act (the "Canadian Bankruptcy Proceedings"). B. Riley Farber has been appointed as the trustee in the Canadian Bankruptcy Proceedings. Further information may be obtained from the trustee at [email protected] or on the case webpage About 4Front Ventures Corp. 4Front is a national, vertically integrated multi-state cannabis operator with operations in Illinois and Massachusetts and facilities in Washington. Since its founding in 2011, 4Front has built a strong reputation for its high standards and low-cost cultivation and production methodologies earned through a track record of success in facility design, cultivation, genetics, growing processes, manufacturing, purchasing, distribution, and retail. To date, 4Front has successfully brought to market more than 20 different cannabis brands and over 1,800 products, which are strategically distributed through its fully owned and operated Mission dispensaries and retail outlets in its core markets. For more information, visit
Cision Canada
an hour ago
- Cision Canada
D2L Inc. Announces First Quarter 2026 Financial Results
Total revenue increased 9% year-over-year to US$52.8 million and Constant Currency Revenue 2 increased by 11% year-over-year Subscription and support revenue grew 11% year-over-year to US$47.7 million Constant Currency Annual Recurring Revenue 1 reached US$206.8 million, up 9% over the prior year Adjusted EBITDA 2 was US$9.3 million (17.6% Adjusted EBITDA Margin 2), versus US$4.0 million (8.3% Adjusted EBITDA Margin) in the prior year Income for the period was $3.3 million, versus income of $0.6 million for the comparative period of the prior year. TORONTO, June 10, 2025 /CNW/ - D2L Inc. (TSX: DTOL) ("D2L" or the "Company"), a leading global learning technology company, today announced financial results for its Fiscal 2026 first quarter ended April 30, 2025. All amounts are in U.S. dollars and all figures are prepared in accordance with International Financial Reporting Standards ("IFRS") unless otherwise indicated. "We are executing successfully in the current environment, delivering efficient growth and strengthening our fundamentals, as seen in our SaaS revenue growth and further improvements in gross margins and operating leverage this quarter," said John Baker, CEO of D2L. "As organizations navigate the macroeconomic volatility, our modern, AI-first learning platform is an important solution to enhance learner engagement, drive retention, and enable new learning modalities with greater efficiency. We remain focused on balancing near-term performance with strategic investments in platform innovation and market expansion, as we work to become the leader in targeted education markets globally and establish ourselves as the next-generation learning platform for corporate upskilling." First Quarter Fiscal 2026 Financial Highlights Total revenue of $52.8 million, up 9% from the same period in the prior year and Constant Currency Revenue 2 increased by 11% to $53.6 million. Subscription and support revenue was $47.7 million, an increase of 11% over the same period of the prior year. Annual Recurring Revenue 1 ("ARR") as at April 30, 2025 increased by 8% year-over-year, from $190.3 million to $206.2 million. Constant Currency Annual Recurring Revenue 1 increased 9% to $206.8 million. Adjusted Gross Profit 2 increased by 15% to $37.7 million (71.3% Adjusted Gross Margin 2) from $32.8 million (67.7% Adjusted Gross Margin) in the same period of the prior year. Gross Profit increased by 13% to $37.0 million from $32.7 million in the same period of the prior year. Gross profit margin for subscription and support revenue increased to 75.2%, up 300 basis points from 72.2% in the same period of the prior year. Adjusted EBITDA 2 increased to $9.3 million, up from $4.0 million for the comparative period in the prior year. Income for the period was $3.3 million, versus income of $0.6 million for the comparative period of the prior year. Cash flows used in operating activities was $1.9 million, versus $14.8 million of cash flows used in the same period in the prior year, and Free Cash Flow 2 was negative $1.8 million, compared to Free Cash Flow of negative $15.0 million in the same period in the prior year. Cash flows from operations typically have a seasonal low in the first quarter each year and a seasonal high in the second quarter each year. Strong balance sheet at quarter end, with cash and cash equivalents of $92.5 million and no debt. During the quarter ended April 30, 2025, the Company repurchased and canceled 168,800 Subordinate Voting Shares under its normal course issuer bid ("NCIB"). 1 Refer to "Key Performance Indicators" section of this press release. 2 A non-IFRS financial measure or non-IFRS ratio. Refer to "Non IFRS Financial Measures" section of this press release. First Quarter Fiscal 2025 Financial Results – Selected Financial Measures (in thousands of U.S. dollars, except for percentages) Q1 2026 Q1 2025 Change Change $ $ $ % Subscription & Support Revenue 47,735 42,954 4,781 11.1 % Professional Services & Other Revenue 5,100 5,541 (441) (8.0 %) Total Revenue 52,835 48,495 4,340 8.9 % Constant Currency Revenue 1 53,608 48,495 5,113 10.5 % Gross Profit 37,030 32,677 4,353 13.3 % Adjusted Gross Profit 1 37,667 32,839 4,828 14.7 % Adjusted Gross Margin 1 71.3 % 67.7 % Income for the period 3,268 572 2,696 471.3 % Adjusted EBITDA 1 9,305 4,019 5,286 131.5 % Cash Flows from (used in) Operating Activities (1,856) (14,826) 12,970 87.5 % Free Cash Flow 1 (1,841) (14,952) 13,111 87.7 % 1 A non-IFRS financial measure or non-IFRS ratio. Refer to the "Non-IFRS Financial Measures and Reconciliation of Non-IFRS Financial Measures" section of this press release for more details. First Quarter Business & Operating Highlights D2L continued to grow its customer base in education in North America, adding Knox College, LCI Education, and Tradechology Academy. D2L continued to grow its customer base in global education, adding University of Otago, Universidad de la Sabana, and HOGENT University of Applied Sciences and Arts. D2L expanded its corporate customer portfolio, adding The Institute of Electrical and Electronics Engineers (IEEE) Computer Society and Pantheon Academy. Named one of the World's Top EdTech Companies of 2025 by TIME and one of Canada's Best Diversity Employers of 2025. Named an Innovative AI Product in the 2025 Artificial Intelligence Excellence Awards and a winner in G2's 2025 Best Software Awards for Best Education Software Products and G2's 2025 Best Software Companies in Canada. D2L's Chief Learning Officer, Dr. Cristi Ford, was recognized as an ASU+GSV Leading Women in AI at the 2025 ASU+GSV Summit. D2L launched its expanded partner program to deepen collaboration and enhance integration with D2L Brightspace. Financial Outlook The Company is maintaining its previous financial guidance for the year ended January 31, 2026 as follows: Subscription and support revenue in the range of $194 million to $196 million, implying growth of 7-9% over Fiscal 2025, and 9-10% growth on a constant currency basis; Total revenue in the range of $219 million to $221 million, implying growth of 7-8% over Fiscal 2025, and 8-9% growth on a constant currency basis; and Adjusted EBITDA in the range of $32 million to $34 million, implying an Adjusted EBITDA margin of 15%. The Company presented a Medium Term Target Operating Model that it expects to achieve by Fiscal 2028 in the Company's Management's Discussion and Analysis ("MD&A") for the years ended January 31, 2025 and 2024 (the "Annual MD&A"). This Medium Term Target Operating Model remains unchanged as of April 30, 2025. For additional details on the Company's outlook and Medium Term Target Operating Model, including the principal underlying assumptions and risk factors regarding achievement, refer to the "Financial Outlook" section of the Company's Annual MD&A, as well as the " Forward-Looking Information" section therein and in the Company's MD&A for the three months ended April 30, 2025 (the "Interim MD&A"). Conference Call & Webcast D2L management will host a conference call on Wednesday, June 11, 2025 at 8:30 am ET to discuss its first quarter Fiscal 2026 financial results. Forward-Looking Information This press release includes statements containing "forward-looking information" within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "outlook", "target", "forecasts", "projection", "potential", "prospects", "strategy", "intends", "anticipates", "seek", "believes", "opportunity", "guidance", "aim", "goal" or variations of such words and phrases or statements that certain future conditions, actions, events or results "may", "could", "would", "should", "might", "will", "can", or negative versions thereof, "be taken", "occur", "continue" or "be achieved", and other similar expressions. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information relates to the Company's future financial outlook and anticipated events or results and includes, but is not limited to, statements under the heading " Financial Outlook" and information regarding the Company's financial position, financial results, business strategy, performance, achievements, prospects, objectives, opportunities, business plans and growth strategies. Forward-looking information is based on certain assumptions, expectations and projections, and analyses made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, including the following: the Company's ability to win business from new customers and expand business from existing customers; the timing of new customer wins and expansion decisions by existing customers; the Company's ability to generate revenue and expand its business while controlling costs and expenses; the Company's ability to manage growth effectively; the Company's assumptions regarding the principal competitive factors in our markets; the Company's ability to hire and retain personnel effectively; the effects of foreign currency exchange rate fluctuations on our operations; the ability to seek out, enter into and successfully integrate acquisitions, including the acquisition of H5P Group AS ("H5P"); business and industry trends, including the success of current and future product development initiatives; positive social development and attitudes toward the pursuit of higher education; the Company's ability to maintain positive relationships with its customer base and strategic partners; the Company's ability to adapt and develop solutions that keep pace with continuing changes in technology, education and customer needs; the Company's ability to predict future learning trends and technology; the ability to patent new technologies and protect intellectual property rights; the Company's ability to comply with security, cybersecurity and accessibility laws, regulations and standards; the assumptions underlying the judgments and estimates impacting on financial statements; certain accounting matters, including the impact of changes in or the adoption of new accounting standards; the Company's ability to retain key personnel; the factors and assumptions discussed under the " Financial Outlook" section of the Annual MD&A and that the list of factors referenced in the following paragraph, collectively, do not have a material impact on the Company. Although the Company believes that the assumptions underlying such forward-looking information were reasonable when made, they are inherently uncertain and are subject to significant risks and uncertainties and may prove to be incorrect. The Company cautions investors that forward-looking information is not a guarantee of the future and that actual results may differ materially from those made in or suggested by the forward-looking information contained in this press release. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties and other factors, including but not limited to the risks identified herein, including " Summary of Factors Affecting Our Performance" of the Annual MD&A, or in the " Risk Factors" section of the Company's most recently filed annual information form, in each case filed under the Company's profile on SEDAR+ at If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking information prove incorrect, actual results might vary materially from those anticipated in the forward-looking information. Given these risks and uncertainties, investors are cautioned not to place undue reliance on forward-looking information, including any financial outlook. Any forward-looking information that is contained in this press release speaks only as of the date of such statement, and the Company undertakes no obligation to update any forward-looking information or to publicly announce the results of any revisions to any of those statements to reflect future events or developments, except as required by applicable securities laws. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data. D2L is transforming the way the world learns—helping learners of all ages achieve more than they dreamed possible. Working closely with customers all over the world, D2L is supporting millions of people learning online and in person. Our global workforce is dedicated to making the best learning products to leave the world better than they found it. Learn more at D2L INC. Condensed Consolidated Interim Statements of Financial Position (In U.S. dollars) As at April 30, 2025 and January 31, 2025 (Unaudited) April 30, 2025 January 31, 2025 Assets Current assets: Cash and cash equivalents $ 92,526,834 $ 99,184,514 Trade and other receivables 24,372,457 26,430,586 Uninvoiced revenue 2,969,131 2,756,998 Prepaid expenses 7,789,390 7,564,837 Deferred commissions 5,139,987 5,106,976 132,797,799 141,043,911 Non-current assets: Other receivables 400,458 422,589 Prepaid expenses 314,523 308,235 Deferred income taxes 15,872,360 18,115,730 Right-of-use assets 8,026,078 7,450,545 Property and equipment 7,049,725 7,125,272 Deferred commissions 6,954,101 6,909,439 Loan receivable from associate 9,295,669 9,123,399 Intangible assets 17,852,622 17,135,529 Goodwill 27,019,307 25,286,222 Total assets $ 225,582,642 $ 232,920,871 Liabilities and Shareholders' Equity Current liabilities: Accounts payable and accrued liabilities $ 35,417,661 $ 30,504,085 Deferred revenue 85,411,389 97,454,306 Lease liabilities 1,545,432 1,201,604 Contingent consideration 5,005,457 4,927,193 127,379,939 134,087,188 Non-current liabilities: Deferred income taxes 4,031,858 4,110,030 Lease liabilities 10,391,849 9,977,941 14,423,707 14,087,971 141,803,646 148,175,159 Shareholders' equity: Share capital: 367,125,848 367,487,956 Additional paid-in capital 45,380,347 48,263,266 Accumulated other comprehensive loss (4,696,131) (7,456,599) Deficit (324,031,068) (323,548,911) 83,778,996 84,745,712 Related party transactions Investment in associate Total liabilities and shareholders' equity $ 225,582,642 $ 232,920,871 D2L INC. Condensed Consolidated Interim Statements of Comprehensive Income (Loss) (In U.S. dollars) For the three months ended April 30, 2025 and 2024 (Unaudited) 2025 2024 Revenue: Subscription and support $ 47,735,572 $ 42,953,475 Professional services and other 5,099,599 5,541,417 52,835,171 48,494,892 Cost of revenue: Subscription and support 11,840,420 11,946,610 Professional services and other 3,964,545 3,870,868 15,804,965 15,817,478 Gross profit 37,030,206 32,677,414 Expenses: Sales and marketing 13,668,739 12,904,939 Research and development 11,459,714 12,290,771 General and administrative 8,386,362 8,099,431 33,514,815 33,295,141 Income (loss) from operations 3,515,391 (617,727) Interest and other income (expenses): Interest expense (220,129) (160,660) Interest income 717,052 1,084,045 Other income 315,059 59,476 Foreign exchange gain 1,536,516 230,781 2,348,498 1,213,642 Income before income taxes 5,863,889 595,915 Income taxes expense (recovery): Current 571,177 50,745 Deferred 2,024,408 (27,096) 2,595,585 23,649 Income for the period 3,268,304 572,266 Other comprehensive gain (loss): Foreign currency translation gain (loss) 2,760,468 (795,690) Comprehensive income (loss) $ 6,028,772 $ (223,424) Earnings per share – basic $ 0.06 $ 0.01 Earnings per share – diluted 0.06 0.01 Weighted average number of common shares – basic 54,689,330 54,015,602 Weighted average number of common shares – diluted 56,137,363 55,723,344 D2L INC. Condensed Consolidated Interim Statements of Changes in Shareholders' Equity (In U.S. dollars) For the three months ended April 30, 2025 and 2024 (Unaudited) Share Capital Additional paid-in capital Accumulated other comprehensive loss Deficit Total Shares Amount Balance, January 31, 2025 54,653,174 $ 367,487,956 $ 48,263,266 $ (7,456,599) $ (323,548,911) $ 84,745,712 Issuance of Subordinate Voting Shares on exercise of options 13,734 120,279 (88,253) — — 32,026 Issuance of Subordinate Voting Shares on settlement of restricted share units 370,200 1,328,952 (5,292,603) — — (3,963,651) Stock-based compensation — — 3,213,041 — — 3,213,041 Reduction in excess tax benefit on stock-based compensation — — (715,104) — — (715,104) Repurchase of share capital for cancellation under NCIB (168,800) (1,811,339) — — — (1,811,339) Share repurchase commitment under the ASPP — — — — (3,750,461) (3,750,461) Other comprehensive income — — — 2,760,468 — 2,760,468 Income for the period — — — — 3,268,304 3,268,304 Balance, April 30, 2025 54,868,308 $ 367,125,848 $ 45,380,347 $ (4,696,131) $ (324,031,068) $ 83,778,996 Balance, January 31, 2024 53,978,085 $ 364,830,884 $ 47,485,107 $ (4,998,317) $ (350,437,401) $ 56,880,273 Issuance of Subordinate Voting Shares on exercise of options 206,299 1,739,261 (900,761) — — 838,500 Issuance of Subordinate Voting Shares on settlement of restricted share units 194,483 965,967 (2,587,799) — — (1,621,832) Stock-based compensation — — 2,332,754 — — 2,332,754 Repurchase of share capital for cancellation under NCIB (131,380) (1,021,919) — — — (1,021,919) Share repurchase commitment under the ASPP — — — — 284,181 284,181 Other comprehensive loss — — — (795,690) — (795,690) Income for the period — — — — 572,266 572,266 Balance, April 30, 2024 54,247,487 $ 366,514,193 $ 46,329,301 $ (5,794,007) $ (349,580,954) $ 57,468,533 D2L INC. Condensed Consolidated Interim Statements of Cash Flows (In U.S. dollars) For the three months ended April 30, 2025 and 2024 (Unaudited) 2025 2024 Operating activities: Income for the period $ 3,268,304 $ 572,266 Items not involving cash: Depreciation of property and equipment 392,558 436,493 Depreciation of right-of-use assets 347,334 286,692 Amortization of intangible assets 557,631 27,967 Gain on disposal of property and equipment (16,825) (45,803) Stock-based compensation 3,213,041 2,332,754 Net interest income (496,923) (923,385) Income tax expense 2,595,585 23,649 Fair value gain on loan receivable from associate (172,270) — Changes in operating assets and liabilities: Trade and other receivables 3,684,970 (2,528,272) Uninvoiced revenue (133,791) 168,438 Prepaid expenses 153,112 2,116,314 Deferred commissions 369,573 (191,409) Accounts payable and accrued liabilities (1,189,037) (6,008,716) Deferred revenue (14,399,467) (12,109,523) Right-of-use assets and lease liabilities — (43,743) Interest received 710,627 1,077,425 Interest paid (1,633) (12,633) Income taxes paid (738,303) (4,239) Cash flows used in operating activities (1,855,514) (14,825,725) Financing activities: Payment of lease liabilities (487,522) (405,727) Proceeds from exercise of stock options 32,026 838,500 Taxes paid on settlement of restricted share units (3,963,651) (1,621,832) Repurchase of share capital for cancellation under NCIB (1,811,339) (1,021,919) Cash flows used in financing activities (6,230,486) (2,210,978) Investing activities: Purchase of property and equipment (1,737) (171,869) Proceeds from disposal of property and equipment 16,825 45,803 Cash flows from (used in) investing activities 15,088 (126,066) Effect of exchange rate changes on cash and cash equivalents 1,413,232 (929,583) Decrease in cash and cash equivalents (6,657,680) (18,092,352) Cash and cash equivalents, beginning of period 99,184,514 116,943,499 Cash and cash equivalents, end of period $ 92,526,834 $ 98,851,147 Non-IFRS Financial Measures and Reconciliation of Non-IFRS Financial Measures The information presented within this press release refers to certain non-IFRS financial measures (including non-IFRS ratios) including Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Gross Profit, Adjusted Gross Margin, Free Cash Flow, Free Cash Flow Margin, and Constant Currency Revenue. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS. Non-IFRS financial measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS and are unlikely to be comparable to similar measures presented by other issuers. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company's results of operations, financial performance and liquidity from management's perspective and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of the Company. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to assess our ability to meet our capital expenditures and working capital requirements. Adjusted EBITDA and Adjusted EBITDA Margin Adjusted EBITDA is defined as income (loss), excluding interest, taxes, depreciation and amortization (or EBITDA), adjusted for stock-based compensation, foreign exchange gains and losses, non-recurring expenses, transaction-related costs, fair value adjustment of acquired deferred revenue, income (loss) from equity accounted investee, change in fair value on the loan receivable from associate, impairment charges and other income and losses. Adjusted EBITDA Margin is calculated as Adjusted EBITDA expressed as a percentage of total revenue. For an explanation of management's use of Adjusted EBITDA and Adjusted EBITDA Margin see " Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Adjusted EBITDA and Adjusted EBITDA Margin" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles Adjusted EBITDA to income for the period, and discloses Adjusted EBITDA Margin, for the periods indicated: Notes: (1) These expenses relate to non-recurring activities, such as certain legal fees incurred that are not indicative of continuing operations, and changes of workforce or technology whereby certain functions were realigned to optimize operations. (2) These expenses include post-combination compensation costs from the acquisition of H5P, and was partially offset by a gain recognized from the reduction in the second anniversary payment owed to the selling shareholders of Connected Shopping Ltd ("Connected Shopping"), a company acquired in Fiscal 2024, which was recorded through Other income. In the prior fiscal year, these expenses included post-combination compensation, legal, professional and other fees related to the acquisition activities of H5P, Connected Shopping, and the divestiture of our majority ownership stake in SkillsWave. These expenses would not have been incurred if not for these transactions and are not considered to be indicative of expenses associated with the Company's continuing operations. (3) At the date of acquisition, the Company recognized a fair value adjustment on the opening deferred revenue balance acquired as part of the H5P acquisition as required under IFRS 3, Business Combinations. This adjustment is not reflective of ordinary operations and is expected to be substantially completed by the end of Fiscal 2026. (4) On a quarterly basis, the Company determines the fair value of the loan advanced to SkillsWave. The adjustments to the fair value of the loan are not reflective of the Company's main business operations and will not impact the Company's future results beyond the maturity date of the loan on June 28, 2029. Adjusted Gross Profit and Adjusted Gross Margin Adjusted Gross Profit is defined as gross profit excluding related stock-based compensation expenses and amortization from acquired intangible assets, specifically acquired technology. Adjusted Gross Margin is calculated as Adjusted Gross Profit expressed as a percentage of total revenue. For an explanation of management's use of Adjusted Gross Profit and Adjusted Gross Margin see " Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Adjusted Gross Profit and Adjusted Gross Margin" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles Adjusted Gross Profit to gross profit, and discloses Adjusted Gross Margin, for the periods indicated: Free Cash Flow and Free Cash Flow Margin Free Cash Flow is defined as cash flows from (used in) operating activities less net additions to property and equipment. Free Cash Flow Margin is calculated as Free Cash Flow expressed as a percentage of total revenue. For an explanation of management's use of Free Cash Flow and Free Cash Flow Margin see " Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Free Cash Flow and Free Cash Flow Margin" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles Free Cash Flow to cash flow used in operating activities, and discloses Free Cash Flow Margin, for the periods indicated: Constant Currency Revenue Constant Currency Revenue is defined as our total revenue with foreign-currency-denominated revenues translated at the historical exchange rates from the comparable prior period into our U.S. dollar functional currency. For an explanation of management's use of Constant Currency Revenue see " Non-IFRS and Other Financial Measures – Non-IFRS Financial Measures and Non-IFRS Financial Ratios – Constant Currency Revenue" section in the Company's Interim MD&A, which section is incorporated by reference herein. The following table reconciles our Constant Currency Revenue to revenue, for the periods indicated: Key Performance Indicators Management uses a number of metrics, including the key performance indicators identified below, to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other issuers. These metrics are estimated operating metrics and not projections, nor actual financial results, and are not indicative of current or future performance. Annual Recurring Revenue and Constant Currency Annual Recurring Revenue: We define Annual Recurring Revenue ("ARR") as the annualized equivalent value of subscription revenue from all existing customer contracts as at the date being measured, exclusive of the implementation period. Our calculation of ARR assumes that customers will renew their contractual commitments as those commitments come up for renewal. We believe ARR provides a reasonable, real-time measure of performance in a subscription-based environment and provides us with visibility for potential growth in our cash flows. We believe that increasing ARR reflects the continued strength of our business and the successful execution of our strategy. Increasing ARR will continue to be our focus on a go-forward basis. We define Constant Currency Annual Recurring Revenue as foreign-currency-denominated ARR translated at the historical exchange rates from the comparable prior period into our U.S. dollar functional currency. SOURCE D2L Inc.
Cision Canada
an hour ago
- Cision Canada
BTB Announces the Results of the 2025 Election of Trustees Français
MONTRÉAL, June 10, 2025 /CNW/ - BTB Real Estate Investment Trust (TSX: (" BTB" or the " REIT") is proud to announce that each of the Trustees nominated in the Management Information Circular dated May 5 th, 2025, were elected as Trustees of BTB during the Annual General Meeting held in Montréal today. The details of the election are as follows: The results of the final votes regarding all matters subject to a vote during the Annual General Meeting of the Unitholders are available on the SEDAR+ website ( About BTB BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB REIT invests in industrial, suburban office and necessity-based retail properties across Canada for the benefit of their investors. As of today, BTB owns and manages 75 properties, representing a total leasable area of approximately 6.1 million square feet. People and their stories are at the heart of our success. SOURCE BTB Real Estate Investment Trust
