Freight Technologies sees FY25 revenue $20M-$23M
Primarily as a result of the expected economic impact of higher tariffs on US-Mexico cross border trade, the Company is lowering the high-end of its revenue and margin outlook for 2025. The Company believes it can recover most, if not all, cross-border volume with domestic shipments across Fr8App and Fr8Fleet, but remains cautious given the current uncertainty surrounding official trade policy between the two countries. Revised outlook for 2025 is: Revenue: $20 million to $23 million; Gross Profit: $2 million to $2.8 million; Operating Loss: -$4.2 million to -$5.5 million
Confident Investing Starts Here:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Rocket Companies Announces Pricing of Senior Notes due 2030 and Senior Notes due 2033
DETROIT, June 5, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, today priced its private offering of $2.0 billion aggregate principal amount of 6.125% senior notes due 2030 and $2.0 billion aggregate principal amount of 6.375% senior notes due 2033 (collectively, the "Notes" and such offering, the "Offering"). The Notes will initially be fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by Rocket Mortgage, LLC ("Rocket Mortgage") and each of Rocket Mortgage's domestic subsidiaries that are issuers or guarantors under Rocket Mortgage's existing senior notes. Upon the consummation of the previously announced proposed acquisition of Redfin Corporation ("Redfin" and such acquisition, the "Redfin Acquisition"), the Notes will also be guaranteed, on a senior unsecured basis, by Redfin. Upon the consummation of the previously announced proposed acquisition of Mr. Cooper Group Inc. ("Mr. Cooper" and such acquisition, the "Mr. Cooper Acquisition"), the Notes will also be guaranteed, jointly and severally, on a senior unsecured basis, by Mr. Cooper and each of Mr. Cooper's subsidiaries that are issuers or guarantors of existing senior notes of Nationstar Mortgage Holdings Inc.'s, a subsidiary of Mr. Cooper ("NMH"). The Offering is expected to close on June 20, 2025, subject to certain customary conditions. The Company intends to use the proceeds from the Offering to (i) on the closing date for the Mr. Cooper Acquisition, redeem NMH's 5.000% senior notes due 2026, 6.000% senior notes due 2027 and 5.500% senior notes due 2028 at redemption prices equal to 100% of the principal amount of such notes, plus accrued and unpaid interest to, but excluding, the redemption date (the "Redemption"), (ii) pay fees and expenses related to the Offering and the Redemption, (iii) at the Company's discretion, redeem, purchase (including, if required, in a change of control offer) and/or amend NMH's 6.500% senior notes due 2029, 5.125% senior notes due 2030, 5.750% senior notes due 2031 and 7.125% senior notes due 2032 and pay fees and expenses in connection therewith and (iv) after the consummation of the Mr. Cooper Acquisition, repay secured debt of the Company and its subsidiaries (including Redfin, Mr. Cooper and their subsidiaries). The Offering is not contingent on the consummation of the Redfin Acquisition or the Mr. Cooper Acquisition. The Notes will be subject to a special mandatory redemption if the Mr. Cooper Acquisition is not consummated by September 30, 2026, and a partial special mandatory redemption 45 days after the Mr. Cooper Acquisition for any of the Notes proceeds that are not, within 45 days of the Mr. Cooper Acquisition, used in the Redemption or the repayment of other secured debt of the Company and its subsidiaries. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, and outside the United States, to non-U.S. investors pursuant to Regulation S. The Notes and related guarantees will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or in a transaction not subject to the registration requirements of the Securities Act or any state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts, including statements regarding the Redfin Acquisition, the Mr. Cooper Acquisition, the collapse of our Up-C structure, our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth are forward-looking statements. As you read this press release, you should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions, including those described under the heading "Risk Factors" in our Annual Report on the Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission (the "SEC") on March 3, 2025, as amended by the Form 10-K/A, filed with the SEC on April 28, 2025, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC on May 9, 2025. Although we believe that these forward-looking statements are based upon reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release. We expressly disclaim any intent, obligation or undertaking to update or revise any forward-looking statements made herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this press release. View original content to download multimedia: SOURCE Rocket Companies, Inc. Sign in to access your portfolio
Yahoo
40 minutes ago
- Yahoo
Reko Responds to Economic Headwinds in the Third Quarter of Fiscal 2025
WINDSOR, ON, June 5, 2025 /CNW/ - Reko International Group Inc. (TSXV: REKO) today announced results for its third quarter ended April 30, 2025. Third Quarter Highlights: Sales increase of $742 or 7.7% over the prior year Gross profit improvement of $1.3M in third quarter and $1.8M year-to-date EPS of ($0.06) unfavourably impacted by ($0.16) per share due to restructuring costs Continued strong balance sheet with working capital improvement of $3.5M over prior year Financial Highlights: (in 000's,except for per share data)(1) Earned revenue is a non-IFRS measure and is calculated as sales less costs associated with purchased material and subcontracting. Earned revenue margin is an expression of earned revenue as a percentage of sales A reconciliation of this non-IFRS measure is included in the MD&A (2) Adjusted EBITDA is a non-IFRS measure and is defined as adjusted earnings from operations excluding depreciation and amortization. A reconciliation of this non-IFRS measure is included in the MD&A. Consolidated sales for the quarter ended April 30, 2025, increased by 7.7%, or $742, compared to the same period last year. Sales in certain areas of the business are influenced by the number of active projects, the value of awards, and the timing of project milestones, all of which can vary significantly by job, sector, and customer. Year-to-date sales are $31,372, representing an 11.0% decline compared to the prior year, reflecting reduced project volumes in the automotive sector and continued economic uncertainty, including tariff-related delays in project awards. Gross profit increased to 17.1% of sales, compared to 4.4% in the prior-year quarter, driven by improved execution on fixed-price contracts and a more selective go-to-market strategy. A lower volume of projects and their stage of completion also contributed to reduced direct project costs, including materials and subcontracting. In addition, the Company continues to manage fixed labour costs through various measures to better align with current sales levels. Net loss for the quarter ended April 30, 2025, was ($352), or ($0.06) per share, compared to a net loss of ($849), or ($0.15) per share, in the same quarter of the prior year. Results for the quarter include a net unfavourable impact of ($0.16) per share from non-operating items comprised of restructuring costs of ($0.16) per share, a write-down of assets totaling ($0.05) per share and a gain of $0.05 per share related to net insurance proceeds. In the same period last year, non-operating items resulted in a net expense of $0.04 per share. "In response to continued economic headwinds, including political uncertainty and potential tariff impacts in our key U.S. markets, we undertook a strategic restructuring to align our cost base with current conditions," stated Diane Reko, CEO. "While we delivered improved sales and earnings compared to the same period last year, stabilization is still underway. We are focused on strengthening performance and executing our strategy to position the Company for sustained long-term growth." During the quarter, the Company purchased and subsequently cancelled 5,700 shares under the normal course issuer bid that was announced on January 6, 2025 at a net cost of $ 21. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. About Reko International Group Inc. Reko International Group Inc. (TSX-V: REKO) is a diversified, technology-driven manufacturing company located in Southwestern Ontario, just minutes from the U.S. border. With expertise in robotic automation equipment and precision machining services, Reko is a "go-to" supplier for companies in the automotive, aerospace, rail, mining, power generation, offsite construction, infrastructure and capital equipment industries. Reko strives to be a pillar and protector of sustainable North American manufacturing and production. SOURCE Reko International Group Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
44 minutes ago
- Yahoo
Stablecoin issuer Circle soars in public market debut
Shares of stablecoin issuer Circle soared in its NYSE debut today, a validation of crypto's newfound importance to the American financial system and a symptom of investors starved for new issuances during a long IPO drought. Trading in the stock was halting just seconds after it began after the stock, which had been sold last night to IPO investors for $31 a share, opened at $69 and soared to nearly $76. The $31 price was below where Circle was previously valued by private investors. In an interview off the NYSE trading floor with Semafor, CEO Jeremy Allaire said he worried that if the US doesn't create a trusted and useful digital dollar — something his company's main product, USD Coin, aims to be — it might lose the 'digital currency space race' to China, which has a formidable lead over the US with its digital yuan. 'The digital dollar should be the highest utility money in the world,' he said. 'We are believers in the strength and continued preeminence of the dollar in the global financial system, and in the internet financial system that's being built up.' It's the digital version of a broader debate about the future of the dollar, as the global economy fractures under trade and geopolitical tensions. It's also a politically expedient play for Allaire's company, which, as the Financial Times notes, is quite exposed to the whims of central banks. A rival stablecoin issuer, Tether, has also latched onto the US-China rivalry. Liz Hoffman: The House passed stablecoin legislation. What's your expectation for what happens in the Senate? Jeremy Allaire: The GENIUS Act had a bipartisan supermajority to get it to where it is, and we believe it's an excellent piece of legislation. This is part of an effort by policymakers and governments around the world to integrate stablecoins as an M1-like electronic money type in the financial system. It represents a tremendous opportunity to have more companies, more financial institutions, more technology firms, build on this breakthrough technology. Do you expect competition from the Trump family? Circle has always faced competition. The position we've been able to build as a licensed, regulated, global firm — we think those remain strengths, and we're very comfortable that we're going to continue to be the leader. Becoming a public company is significant in terms of enhancing trust, transparency, and accountability. Crypto is right on the cusp of going mainstream, but is still shot through with fraud and criminal-adjacent actors. Do you think you can fully drag it into the sunlight? We aren't focused on speculative trading or different types of digital assets. We're trying to improve the financial system by building a new, electronic form of the dollar, and ultimately other fiat electronic money, to make the global economic system more fair and integrated. We saw, in the birth and growth of the internet, a huge range of things that people thought were useful — some of which became fundamental to all of our lives and some of which don't exist anymore. Do you worry that if the US doesn't become the backbone of that global digital infrastructure that someone else, maybe the Chinese, will? I do. The digital dollar should be the highest utility money in the world. We're trying to cement in law a framework that assures that the United States … can win the digital- currency space race. We are believers in the strength and continued preeminence of the dollar in the global financial system, and in the internet financial system that's being built up. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
