Siyata Mobile and RAM® Mounts Partner to Launch Innovative In-Vehicle Solutions for Push-to-Talk Handsets
VANCOUVER, BC, July 24, 2025 /CNW/ -- Siyata Mobile Inc. (Nasdaq: SYTA, SYTAW) (" Siyata" or the " Company"), a global developer and vendor of mission-critical Push-to-Talk over Cellular (PoC) handsets and accessories, today announced a strategic partnership with RAM® Mounts, an industry leader in rugged, U.S.-made mounting systems, to deliver advanced in-vehicle solutions tailored to Siyata's SD7, SD7 ULTRA handsets and future roadmap handsets. The companies will debut their integrated solutions at APCO 2025, July 27 - 30 at the Baltimore Convention Center in Baltimore, Maryland.
The collaboration brings together Siyata's innovative suite of PoC handsets with RAM®'s trusted, high-performance mounting systems to create mission-ready communications solutions designed specifically for the demanding needs of first responders, transportation fleets, utility workers and enterprise customers.
"RAM is the leading manufacturer for quality, U.S.-made in-vehicle docking and mounting solutions," said Marc Seelenfreund, CEO of Siyata. "Combining our purpose-built SD7 and upcoming SD7 ULTRA handsets with RAM's proven mounting technology allows us to provide safe, convenient and reliable mobile communications in virtually any vehicle environment."
"Siyata has developed highly innovative handsets for the Push-to-Talk market, and we believe this will be a powerful partnership that will benefit first responders and many other PTT customers," said David Brinn, Business Development Manager at RAM® Mounts. "We are proud to collaborate with Siyata and bring enhanced functionality and deployment flexibility to users who rely on secure, in-vehicle communication."
The integrated solutions will be showcased at RAM's booth # 2714 at APCO 2025, where attendees can see hands-on demonstrations of the SD7, SD7 ULTRA and compatible RAM® mounting systems designed for both ease of use and durability in the field.
About RAM® Mounts
Introduced in 1990 as part of National Products Inc. (NPI), RAM® Mounts is the leading manufacturer of rugged and versatile mounting solutions for nearly any application and device – including phones, tablets, cameras, GPS systems, laptops, marine electronics, printers, radios and much more.
As the most innovative product line of its kind, RAM® Mounts offers approximately 5,000 modular components. Built on the interchangeable ball and socket system and designed around an elastomeric rubber ball, these components incorporate non-slip functionality as well as shock and vibration damping. The unique design of the patent-protected RAM® Mounts system provides quick installation, adjustability and durability – all at a low cost.
Backed by more than 400 employees, RAM® Mounts is proudly located in Seattle, Washington in the same neighborhood where the company was started. Utilizing the finest assembly hardware, durable composites, stainless steel, rubber and aluminum, RAM® mounting solutions have been synonymous with quality and performance for more than two decades. No matter where life takes you, depend on RAM®.
https://rammount.com/
About Siyata Mobile Inc.
Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.
In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In- Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.
Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.
Siyata's common shares trade on the Nasdaq under the symbol "SYTA", and its common warrants trade on the Nasdaq under the symbol "SYTAW".
Visit www.siyata.net to learn more.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata's current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Siyata's filings with the Securities and Exchange Commission ("SEC"), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release.
SOURCE Siyata Mobile Inc.
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The reconciliation for Adjusted EBITDA includes but is not limited to the following items: stock-based compensation expenses, depreciation, amortization, financial expenses (income), net, provision for income tax, and other non-recurring operating expenses. These items, which could materially affect the computation of forward-looking GAAP net loss, are inherently uncertain and depend on various factors, some of which are outside of the Company's control. The guidance above is based on the Company's current expectations relating to the macro-economic climate trends. Additional information on Kaltura's reported results, including a reconciliation of the non-GAAP financial measures to their most comparable GAAP measures, is included in the financial tables below. 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For more information, visit Investor Contacts: Kaltura John Doherty Chief Financial Officer IR@ Sapphire Investor Relations Erica Mannion and Michael Funari +1 617 542 6180 IR@ Media Contacts: Kaltura Nohar Zmora Headline Media Raanan Loew raanan@ +1 347 897 9276 Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding our future financial and operating performance, including our guidance and long-term targets; our business strategy, plans and objectives for future operations; including our cost saving initiatives; the timing and impact of our reorganization plan; expectations with respect to our products and capabilities, including the adoption and performance of our new AI-driven technologies; our expectations regarding potential profitability and growth; and general economic, business and industry conditions, including expectations with respect to trends in customer consolidation and corporate spending. In some cases, you can identify forward-looking statements by terminology such as 'aim,' 'anticipate,' 'assume,' 'believe,' 'contemplate,' 'continue,' 'could,' 'due,' 'estimate,' 'expect,' 'goal,' 'intend,' 'may,' 'objective,' 'plan,' 'predict,' 'potential,' 'positioned,' 'seek,' 'should,' 'target,' 'will,' 'would' and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Any forward-looking statements contained herein are based on our historical performance and our current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent our expectations as of the date of this press release. Subsequent events may cause these expectations to change, and we disclaim any obligation to update the forward-looking statements in the future, except as required by law. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from our current expectations. Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, the current volatile economic climate and its direct and indirect impact on our business and operations; political, economic, and military conditions in Israel and other geographies; our ability to retain our customers and meet demand; our ability to achieve and maintain profitability; the evolution of the markets for our offerings; our ability to keep pace with technological and competitive developments; risks associated with our use of certain artificial intelligence and machine learning models; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications; risks associated with our Application Programming Interfaces, other components in our offerings and other intellectual property; our ability to compete successfully against current and future competitors; our ability to increase customer revenue; risks related to our approach to revenue recognition; our potential exposure to cybersecurity threats; our compliance with data privacy and data protection laws; our ability to meet our contractual commitments; our reliance on third parties; our ability to retain our key personnel; risks related to revenue mix and customer base; risks related to our international operations; risks related to potential acquisitions; our ability to generate or raise additional capital; and the other risks under the caption 'Risk Factors' in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission ('SEC'), as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC's website at and the Investor Relations page of our website at Non-GAAP Financial Measures Kaltura has provided in this press release and the accompanying tables measures of financial information that have not been prepared in accordance with generally accepted accounting principles in the U.S. ("GAAP"), including non-GAAP gross profit, non-GAAP gross margin (calculated as a percentage of revenue), non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating profit (loss), non-GAAP operating margin (calculated as a percentage of revenue), non-GAAP net income (loss), non-GAAP net income (loss) per share and Adjusted EBITDA. Beginning with the second quarter, non-GAAP Net Income was adjusted for gains or losses from foreign currency translation adjustments, with the recent fluctuation of the U.S dollar, specifically against the Israeli Shekel and less certainty in the global economic environment, Kaltura believes that this change will provide a better reflection of its overall operating performance on an adjusted net income (loss) basis. Kaltura defines these non-GAAP financial measures as the respective corresponding GAAP measure, adjusted for, as applicable: (1) stock-based compensation expense; (2) the amortization of acquired intangibles; and (3) strategic initiatives costs, (4) war-related costs, and (5) foreign currency translation adjustments loss (gain). Kaltura defines EBITDA as net profit (loss) before financial expenses (income), net, provision for income taxes, and depreciation and amortization expenses. Adjusted EBITDA is defined as EBITDA (as defined above), adjusted for the impact of certain non-cash and other items that we believe are not indicative of our core operating performance, such as non-cash stock-based compensation expenses and certain non-recurring operating expenses. We believe these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to Kaltura's financial condition and results of operations. These non-GAAP metrics are a supplemental measure of our performance, are not defined by or presented in accordance with GAAP, and should not be considered in isolation or as an alternative to net profit (loss) or any other performance measure prepared in accordance with GAAP. Non-GAAP financial measures are presented because we believe that they provide useful supplemental information to investors and analysts regarding our operating performance and are frequently used by these parties in evaluating companies in our industry. By presenting these non-GAAP financial measures, we provide a basis for comparison of our business operations between periods by excluding items that we do not believe are indicative of our core operating performance. We believe that investors' understanding of our performance is enhanced by including these non-GAAP financial measures as a reasonable basis for comparing our ongoing results of operations. Additionally, our management uses these non-GAAP financial measures as supplemental measures of our performance because they assist us in comparing the operating performance of our business on a consistent basis between periods, as described above. Although we use the non-GAAP financial measures described above, such measures have significant limitations as analytical tools and only supplement but do not replace, our financial statements in accordance with GAAP. See the tables below regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures Key Financial and Operating Metrics Annualized Recurring Revenue. We use Annualized Recurring Revenue ('ARR') as a measure of our revenue trend and an indicator of our future revenue opportunity from existing recurring customer contracts. We calculate ARR by annualizing our recurring revenue for the most recently completed fiscal quarter. Recurring revenues are generated from SaaS and PaaS subscriptions, as well as term licenses for software installed on the customer's premises ('On-Prem'). For the SaaS and PaaS components, we calculate ARR by annualizing the actual recurring revenue recognized for the latest fiscal quarter. For the On-Prem components for which revenue recognition is not ratable across the license term, we calculate ARR for each contract by dividing the total contract value (excluding professional services) as of the last day of the specified period by the number of days in the contract term and then multiplying by 365. Recurring revenue excludes revenue from one-time professional services and setup fees. ARR is not adjusted for the impact of any known or projected future customer cancellations, upgrades or downgrades or price increases or decreases. The amount of actual revenue that we recognize over any 12-month period is likely to differ from ARR at the beginning of that period, sometimes significantly. This may occur due to new bookings, cancellations, upgrades or downgrades, pending renewals, professional services revenue, foreign exchange rate fluctuations and acquisitions or divestitures. ARR should be viewed independently of revenue as it is an operating metric and is not intended to be a replacement or forecast of revenue. Our calculation of ARR may differ from similarly titled metrics presented by other companies. Net Dollar Retention Rate. Our Net Dollar Retention Rate, which we use to measure our success in retaining and growing recurring revenue from our existing customers, compares our recognized recurring revenue from a set of customers across comparable periods. We calculate our Net Dollar Retention Rate for a given period as the recognized recurring revenue from the latest reported fiscal quarter from the set of customers whose revenue existed in the reported fiscal quarter from the prior year (the numerator), divided by recognized recurring revenue from such customers for the same fiscal quarter in the prior year (denominator). For annual periods, we report Net Dollar Retention Rate as the arithmetic average of the Net Dollar Retention Rate for all fiscal quarters included in the period. We consider subdivisions of the same legal entity (for example, divisions of a parent company or separate campuses that are part of the same state university system) ,as well as Value-add Resellers ('VARs') (meaning resellers that directly manage the relationship with the customer) and the customers they manage, to be a single customer for purposes of calculating our Net Dollar Retention Rate. Our calculation of Net Dollar Retention Rate for any fiscal period includes the positive recognized recurring revenue impacts of selling new services to existing customers and the negative recognized recurring revenue impacts of contraction and attrition among this set of customers. Our Net Dollar Retention Rate may fluctuate as a result of a number of factors, including the growing level of our revenue base, the level of penetration within our customer base, expansion of products and features, and our ability to retain our customers. Our calculation of Net Dollar Retention Rate may differ from similarly titled metrics presented by other companies. Remaining Performance Obligations. Remaining Performance Obligations represents the amount of contracted future revenue that has not yet been delivered, including both subscription and professional services revenues. Remaining Performance Obligations consists of both deferred revenue and contracted non-cancelable amounts that will be invoiced and recognized in future periods. We expect to recognize 61% of our Remaining Performance Obligations as revenue over the next 12 months, and the remainder over a period of four years, in each case, in accordance with our revenue recognition policy; however, we cannot guarantee that any portion of our Remaining Performance Obligations will be recognized as revenue within the timeframe we expect or at all. As of June 30, 2025 December 31, 2024 (Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 35,446 $ 33,059 Marketable securities 35,756 48,275 Trade receivables 21,241 19,978 Prepaid expenses and other current assets 12,306 9,481 Deferred contract acquisition and fulfillment costs, current 9,670 10,765 Total current assets 114,419 121,558 LONG-TERM ASSETS: Marketable securities 4,132 3,379 Property and equipment, net 14,279 16,190 Other assets, noncurrent 3,438 2,983 Deferred contract acquisition and fulfillment costs, noncurrent 10,778 13,605 Operating lease right-of-use assets 11,242 12,308 Intangible assets, net 89 212 Goodwill 11,070 11,070 Total noncurrent assets 55,028 59,747 TOTAL ASSETS $ 169,447 $ 181,305 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current portion of long-term loans $ 4,423 $ 3,110 Trade payables 9,188 3,265 Employees and payroll accruals 14,083 15,399 Accrued expenses and other current liabilities 12,466 14,262 Operating lease liabilities 2,734 2,504 Deferred revenue, current 55,075 63,123 Total current liabilities 97,969 101,663 NONCURRENT LIABILITIES: Deferred revenue, noncurrent 47 67 Long-term loans, net of current portion 26,616 29,153 Operating lease liabilities, noncurrent 15,032 15,263 Other liabilities, noncurrent 12,829 10,772 Total noncurrent liabilities 54,524 55,255 TOTAL LIABILITIES $ 152,493 $ 156,918 STOCKHOLDERS' EQUITY: Common stock 17 15 Treasury stock (17,396) (7,801) Additional paid-in capital 508,106 500,024 Accumulated other comprehensive loss 3,906 959 Accumulated deficit (477,679) (468,810) Total stockholders' equity 16,954 24,387 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 169,447 $ 181,305 Consolidated Statements of Operations (U.S. dollars in thousands, except for share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Unaudited) Revenue: Subscription $ 42,384 $ 41,014 $ 87,290 $ 82,184 Professional services 2,078 3,018 4,156 6,629 Total revenue 44,462 44,032 91,446 88,813 Cost of revenue: Subscription 9,642 10,861 20,129 22,262 Professional services 3,601 4,495 7,362 9,267 Total cost of revenue 13,243 15,356 27,491 31,529 Gross profit 31,219 28,676 63,955 57,284 Operating expenses: Research and development 11,568 12,029 23,656 24,034 Sales and marketing 11,519 11,780 23,442 23,592 General and administrative 10,889 13,417 21,191 25,498 Total operating expenses 33,976 37,226 68,289 73,124 Operating loss 2,757 8,550 4,334 15,840 Financial expense (income), net 4,569 (1,010) 2,766 488 Loss before provision for income taxes 7,326 7,540 7,100 16,328 Provision for income taxes 424 2,464 1,769 4,772 Net loss 7,750 10,004 8,869 21,100 Net loss per share attributable to common stockholders, basic and diluted $ 0.05 $ 0.07 $ 0.06 $ 0.14 Weighted average number of shares used in computing basic and diluted net loss per share attributable to common stockholders 153,536,740 147,607,504 153,771,875 145,939,847 Stock-based compensation included in above line items: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Unaudited) Cost of revenue $ 119 $ 263 $ 247 $ 547 Research and development 760 1,158 1,609 2,329 Sales and marketing 383 729 815 1,499 General and administrative 2,829 6,752 5,953 11,054 Total $ 4,091 $ 8,902 $ 8,624 $ 15,429 Revenue by Segment (U.S. dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Unaudited) Enterprise, Education and Technology $ 33,242 $ 30,965 $ 67,658 $ 63,405 Media and Telecom 11,220 13,067 23,788 25,408 Total $ 44,462 $ 44,032 $ 91,446 $ 88,813 Gross Profit by Segment (U.S. dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Unaudited) Enterprise, Education and Technology $ 25,867 $ 22,932 $ 52,435 $ 46,488 Media and Telecom 5,352 5,744 11,520 10,796 Total $ 31,219 $ 28,676 $ 63,955 $ 57,284 Consolidated Statement of Cash Flows (U.S. dollars in thousands) Six Months Ended June 30, 2025 2024 (Unaudited) Cash flows from operating activities: Net loss $ (8,869) $ (21,100) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 2,279 2,585 Stock-based compensation expenses 8,624 15,429 Amortization of deferred contract acquisition and fulfillment costs 5,746 5,731 Non-cash interest income, net (194) (593) Losses (Gain) on foreign exchange (487) 132 Changes in operating assets and liabilities: Decrease (Increase) in trade receivables (1,263) 1,196 Increase in prepaid expenses and other current assets and other assets, noncurrent (98) (34) Increase in deferred contract acquisition and fulfillment costs (2,001) (2,497) Increase in trade payables 6,101 3,447 Increase (decrease) in accrued expenses and other current liabilities (1,552) 1,967 Decrease in employees and payroll accruals (1,316) (903) Increase (Decrease) in other liabilities, noncurrent 1,643 (33) Decrease in deferred revenue (8,068) (7,195) Operating lease right-of-use assets and lease liabilities, net 1,065 (883) Net cash provided by (used in) operating activities 1,610 (2,751) Cash flows from investing activities: Investment in available-for-sale marketable securities (30,436) (19,392) Proceeds from maturities of available-for-sale marketable securities 42,484 21,482 Purchases of property and equipment (423) (327) Net cash provided by investing activities 11,625 1,763 Cash flows from financing activities: Repayment of long-term loans (1,531) (1,313) Proceeds from exercise of stock options 2,849 177 Cash settlement of equity classified share-based payment awards (3,089) — Payment of debt issuance costs — (10) Repurchase of common stock (9,595) (85) Change in prepayments for repurchase of common stock 31 (65) Net cash used in financing activities (11,335) (1,296) Effect of exchange rate changes on cash, cash equivalents and restricted cash 487 (132) Net increase (decrease) in cash, cash equivalents and restricted cash 2,387 (2,416) Cash, cash equivalents and restricted cash at the beginning of the period 33,159 36,784 Cash, cash equivalents and restricted cash at the end of the period $ 35,546 $ 34,368 Reconciliation from GAAP to Non-GAAP Results (U.S. dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Reconciliation of gross profit and gross margin GAAP gross profit $ 31,219 $ 28,676 $ 63,955 $ 57,284 Stock-based compensation expense 119 263 247 547 Amortization of acquired intangibles — 106 98 213 Non-GAAP gross profit $ 31,338 $ 29,045 $ 64,300 $ 58,044 GAAP gross margin 70 % 65 % 70 % 64 % Non-GAAP gross margin 70 % 66 % 70 % 65 % Reconciliation of operating expenses GAAP research and development expenses $ 11,568 $ 12,029 $ 23,656 $ 24,034 Stock-based compensation expense 760 1,158 1,609 2,329 Non-GAAP research and development expenses $ 10,808 $ 10,871 $ 22,047 $ 21,705 GAAP sales and marketing $ 11,519 $ 11,780 $ 23,442 $ 23,592 Stock-based compensation expense 383 729 815 1,499 Amortization of acquired intangibles 12 13 25 26 Non-GAAP sales and marketing expenses $ 11,124 $ 11,038 $ 22,602 $ 22,067 GAAP general and administrative expenses $ 10,889 $ 13,417 $ 21,191 $ 25,498 Stock-based compensation expense 2,829 6,752 5,953 11,054 Strategic initiatives (b) 1,632 — 1,632 — War related costs (c) — 1 — 22 Non-GAAP general and administrative expenses $ 6,428 $ 6,664 $ 13,606 $ 14,422 Reconciliation of operating income (loss) and operating margin GAAP operating loss $ (2,757) $ (8,550) $ (4,334) $ (15,840) Stock-based compensation expense 4,091 8,902 8,624 15,429 Amortization of acquired intangibles 12 119 123 239 Strategic initiatives (b) 1,632 — 1,632 — War related costs (c) — 1 — 22 Non-GAAP operating profit (loss) $ 2,978 $ 472 $ 6,045 $ (150) GAAP operating margin (6)% (19)% (5)% (18)% Non-GAAP operating margin 7 % 1 % 7 % — % Reconciliation of net loss GAAP net loss attributable to common stockholders $ (7,750) $ (10,004) $ (8,869) $ (21,100) Stock-based compensation expense 4,091 8,902 8,624 15,429 Amortization of acquired intangibles 12 119 123 239 Strategic initiatives (b) 1,632 — 1,632 — War related costs (c) — 1 — 22 Foreign currency translation adjustments loss (gain) (d) 4,464 (1,068) 2,892 497 Non-GAAP net profit (loss) attributable to common stockholders $ 2,449 $ (2,050) $ 4,402 $ (4,913) Non-GAAP net earnings (loss) per share - basic $ 0.02 $ (0.01) $ 0.03 $ (0.03) Non-GAAP net earnings (loss) per share - diluted $ 0.01 $ (0.01) $ 0.03 $ (0.03) Reconciliation of weighted average number of shares outstanding: Weighted-average number of shares used in calculating GAAP and Non-GAAP net earnings (loss) per share, basic 153,536,740 147,607,504 153,771,875 145,939,847 Effect of dilutive shares used in calculating Non-GAAP net earnings (loss) per share, diluted (e) 12,681,956 — 10,186,719 — Weighted-average number of shares used in calculating Non-GAAP net earnings (loss) per share, diluted 166,218,696 147,607,504 163,958,594 145,939,847 Adjusted EBITDA (U.S. dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net loss $ (7,750) $ (10,004) $ (8,869) $ (21,100) Financial expense (income), net (a) 4,569 (1,010) 2,766 488 Provision for income taxes 424 2,464 1,769 4,772 Depreciation and amortization 1,094 1,279 2,279 2,585 EBITDA (1,663) (7,271) (2,055) (13,255) Non-cash stock-based compensation expense 4,091 8,902 8,624 15,429 Strategic initiatives (b) 1,632 — 1,632 — War related costs (c) — 1 — 22 Adjusted EBITDA $ 4,060 $ 1,632 $ 8,201 $ 2,196 (a) The three months ended June 30, 2025 and 2024, and the six months ended June 30, 2025 and 2024 include $602, $702, $1,210 and $1,406, respectively, of interest expenses and $737, $790, $1,632 and $1,608, respectively, of interest income. (b) Strategic initiatives for the three and six months ended June 30, 2025 include professional, consulting and other costs associated with strategic initiatives. (c) The three and six months ended June 30, 2024 includes costs related to conflicts in Israel, attributable to temporary relocation of key employees from Israel for business continuity purposes, purchase of emergency equipment for key employees for business continuity purposes, and charitable donation to communities directly impacted by the war (d) Represents gains or losses from foreign currency translation adjustments related to the remeasurement of monetary assets and liabilities to the Company's functional currency, using exchange rates in effect as of the end of the reporting period (e) The effect of these dilutive shares was not included in the GAAP calculation of diluted net loss per share for the three and six months ended June 30, 2025 and 2024 because the effect would have been anti-dilutive
Globe and Mail
3 hours ago
- Globe and Mail
McKinley Acquisition Corp Announces Pricing of $150 Million Initial Public Offering
NEEDHAM, Mass, Aug. 11, 2025 (GLOBE NEWSWIRE) -- McKinley Acquisition Corporation (the 'Company'), announced the pricing of its initial public offering of 15,000,000 units at $10.00 per unit, with each unit consisting of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Company's initial business combination. The units are expected to trade on the Nasdaq Global Market ('Nasdaq') under the symbol 'MKLYU' beginning on August 12, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights will be traded on Nasdaq under the symbols 'MKLY' and 'MKLYR,' respectively. The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry. Clear Street LLC is acting as the sole book-running manager for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager. The Company has granted the underwriters a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments, if any. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained, when available, from Clear Street, Attn: Syndicate Department, 150 Greenwich Street, 45th floor, New York, NY 10007, by email at ecm@ or from the U.S. Securities and Exchange Commission's (the 'SEC') website at A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction. This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
