Ministry of Foreign and European Affairs Showcases Decent Cybersecurity at Innovation Day on Cybersecurity
BRATISLAVA, Slovakia--(BUSINESS WIRE)--The Ministry of Foreign and European Affairs of the Slovak Republic hosted its 34th "Innovation Day" focused on cybersecurity, presenting Decent Cybersecurity and its partner FREQUENTIS Solutions & Services to ambassadors accredited in Slovakia.
In his opening remarks, Rastislav Chovanec, State Secretary of the Ministry of Foreign and European Affairs of the Slovak Republic, emphasized the critical importance of cybersecurity in today's challenging global environment:
"In a world facing multiple conflicts and global challenges, the security of the Slovak Republic and our citizens is extremely essential, not only in physical form but also in virtual space. Cooperation between the public and private sectors is absolutely necessary in defending against cyber attacks."
Decent Cybersecurity, a leading European provider of post-quantum security solutions, was highlighted for its expertise in post-quantum cryptography. The company develops proprietary algorithms and provides quantum-resistant cybersecurity solutions primarily focused on critical infrastructure, defense industry, and key sectors such as aviation, space, satellite communications, drones, and unmanned traffic management.
Matej Michalko, Founder, CEO and Chairman of Decent Cybersecurity, commented on the significance of the event: "We are honored to be featured at the Innovation Day alongside our valued partner FREQUENTIS Solutions & Services. As cyber threats evolve in complexity, our post-quantum security solutions provide critical protection for the most sensitive infrastructure. This showcase reflects Slovakia's growing leadership in advanced cybersecurity technologies and our commitment to safeguarding digital assets across Europe and beyond."
With offices in Slovakia, Czech Republic, Poland, United Kingdom, and Ireland, Decent Cybersecurity distinguishes itself through innovative use of artificial intelligence and specialized database technology to enhance data protection, system integrity, and confidentiality for high-security sectors.
The company holds national, EU, and NATO "Secret" level security clearances and maintains ISO 9001 and ISO 27001 certifications, independently audited by TÜV SÜD. Decent Cybersecurity is also a certified provider of cybersecurity audits, certified by the National Security Authority.
The Innovation Day highlighted the synergistic partnership between Decent Cybersecurity and FREQUENTIS Solutions & Services, which enables practical verification of Decent Cybersecurity's solutions and accelerates their market entry. FREQUENTIS Solutions & Services specializes in information and communication systems for organizations with security-critical missions, including civil and military air traffic control, air defense, coast guard, police operations centers, firefighters, emergency medical services, public and maritime transport, and space research.
This showcase underscores Slovakia's growing prominence in the cybersecurity sector and the importance of public-private partnerships in addressing evolving cyber threats.
About Decent Cybersecurity
Decent Cybersecurity delivers advanced European cybersecurity solutions specializing in post-quantum security and critical infrastructure protection. The company is a forerunner in utilizing AI, post-quantum cryptography, and quantum-resistant blockchain for enhanced data protection. As a founding member of the Critical Infrastructure Association of the Slovak Republic and recently joined member of the Council of Slovak Exporters, Decent Cybersecurity implements robust security protocols for critical infrastructure and sensitive data across multiple sectors.
The Ministry of Foreign and European Affairs of the Slovak Republic is responsible for the country's foreign policy and international relations. The Ministry represents Slovak interests abroad, promotes economic cooperation, and supports Slovak businesses in international markets. Through initiatives like the Innovation Day series, the Ministry facilitates connections between Slovak companies and the international diplomatic community, showcasing the country's technological capabilities and fostering new business opportunities.
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Channels for Disclosure of Information Planet intends to announce material information to the public through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website ( and its blog ( in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD. It is possible that the information Planet posts on its blog could be deemed to be material information. As such, Planet encourages investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels. Planet's Use of Non-GAAP Financial Measures This press release includes non-GAAP gross profit, non-GAAP gross margin, certain non-GAAP expenses described further below, non-GAAP loss from operations, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, adjusted EBITDA, backlog and free cash flow, which are non-GAAP measures the Company uses to supplement its results presented in accordance with U.S. GAAP. The Company includes these Non-GAAP financial measures because they are used by management to evaluate the Company's core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. The non-GAAP financial measures presented are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similarly-titled measures presented by other companies, which may have different definitions from the Company's. Further, certain of the non-GAAP financial measures presented exclude stock-based compensation expenses, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for the Company and an important part of its compensation strategy. Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP gross profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, and employee transaction bonuses in connection with the Sinergise business combination. The Company defines non-GAAP gross margin as non-GAAP gross profit divided by revenue. Non-GAAP Expenses: The Company defines and calculates non-GAAP cost of revenue, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, and non-GAAP general and administrative expenses as, in each case, the corresponding U.S. GAAP financial measure (cost of revenue, research and development expenses, sales and marketing expenses, and general and administrative expenses) adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, employee transaction bonuses in connection with the Sinergise business combination, and certain litigation expenses, that are classified within each of the corresponding U.S. GAAP financial measures. Non-GAAP Loss from Operations: The Company defines and calculates non-GAAP loss from operations as loss from operations adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, employee transaction bonuses in connection with the Sinergise business combination, and certain litigation expenses. Non-GAAP Net Income (Loss) and Non-GAAP Net Income (Loss) per Diluted Share: The Company defines and calculates non-GAAP net income (loss) as net loss adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, certain litigation expenses, and employee transaction bonuses in connection with the Sinergise business combination, and the income tax effects of the non-GAAP adjustments. The Company defines and calculates non-GAAP net income (loss) per diluted share as non-GAAP net income (loss) divided by diluted weighted-average common shares outstanding. Adjusted EBITDA: The Company defines and calculates adjusted EBITDA as net income (loss) before the impact of interest income and expense, income tax provision and depreciation and amortization, and further adjusted for the following items: stock-based compensation, change in fair value of warrant liabilities, other income (expense), net, restructuring costs, certain litigation expenses, and employee transaction bonuses in connection with the Sinergise business combination. The Company presents non-GAAP gross profit, non-GAAP gross margin, certain non-GAAP expenses described above, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per diluted share and adjusted EBITDA because the Company believes these measures are frequently used by analysts, investors and other interested parties to evaluate companies in Planet's industry and facilitates comparisons on a consistent basis across reporting periods. Further, the Company believes these measures are helpful in highlighting trends in its operating results because they exclude items that are not indicative of the Company's core operating performance. Backlog: The Company defines and calculates backlog as remaining performance obligations plus the cancelable portion of the contract value for contracts that provide the customer with a right to terminate for convenience without incurring a substantive termination penalty and written orders where funding has not been appropriated. Backlog does not include unexercised contract options. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, which includes both deferred revenue and non-cancelable contracted revenue that will be invoiced and recognized in revenue in future periods. Remaining performance obligations do not include contracts which provide the customer with a right to terminate for convenience without incurring a substantive termination penalty, written orders where funding has not been appropriated and unexercised contract options. An increasing and meaningful portion of the Company's revenue is generated from contracts with the U.S. government and other government customers. Cancellation provisions, such as termination for convenience clauses, are common in contracts with the U.S. government and certain other government customers. The Company presents backlog because the portion of its customer contracts with such cancellation provisions represents a meaningful amount of the Company's expected future revenues. Management uses backlog to more effectively forecast the Company's future business and results, which supports decisions around capital allocation. It also helps the Company identify future growth or operating trends that may not otherwise be apparent. The Company also believes backlog is useful for investors in forecasting the Company's future results and understanding the growth of its business. Customer cancellation provisions relating to termination for convenience clauses and funding appropriation requirements are outside of the Company's control, and as a result, the Company may fail to realize the full value of such contracts. Free Cash Flow: The Company defines and calculates free cash flow as cash provided by (used in) operating activities less purchases of property and equipment and capitalized internal-use software costs. The Company presents free cash flow because it believes free cash flow provides useful supplemental information to help investors understand underlying trends in the Company's business and liquidity. Management uses free cash flow, in addition to GAAP measures, to help manage our business, prepare budgets, and for annual planning. Other Key Metrics ACV and EoP ACV Book of Business: In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates annual contract value ('ACV') for contracts of one year or greater as the total amount of value that a customer has contracted to pay for the most recent 12 month period for the contract, excluding customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users, as well as the value of any satellite services contracts. For short-term contracts (contracts less than 12 months), ACV is equal to total contract value. The Company also calculates EoP ACV book of business in connection with the calculation of several of the key operational and business metrics we utilize. The Company defines EoP ACV book of business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Planet Insights Platform self-service paying users. Active contracts exclude any contract that has been canceled, expired prior to the last day of the period without renewing, or for any other reason is not expected to generate revenue in the subsequent period. For contracts ending on the last day of the period, the ACV is either updated to reflect the ACV of the renewed contract or, if the contract has not yet renewed or extended, the ACV is excluded from the EoP ACV book of business. The Company does not annualize short-term contracts in calculating its EoP ACV book of business. The Company calculates the ACV of usage-based contracts based on the committed contracted revenue or the revenue achieved on the usage-based contract in the prior 12-month period. Percent of Recurring ACV: Percent of recurring ACV is the portion of the total EoP ACV book of business that is recurring in nature. The Company defines EoP ACV book of business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users. The Company defines percent of recurring ACV as the dollar value of all data subscription contracts and the committed portion of usage-based contracts (excluding customers that are exclusively Planet Insights Platform self-service paying users) divided by the total dollar value of all contracts in our EoP ACV book of business. The Company believes percent of recurring ACV is useful to investors to better understand how much of the Company's revenue is from customers that have the potential to renew their contracts over multiple years rather than being one-time in nature. The Company tracks percent of recurring ACV to inform estimates for the future revenue growth potential of our business and improve the predictability of our financial results. There are no significant estimates underlying management's calculation of percent of recurring ACV, but management applies judgment as to which customers have an active contract at a period end for the purpose of determining EoP ACV book of business, which is used as part of the calculation of percent of recurring ACV. EoP Customer Count: The Company defines EoP customer count as the total count of all existing customers at the end of the period excluding customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users. For EoP customer count, the Company defines existing customers as customers with an active contract with the Company at the end of the reported period. For the purpose of this metric, the Company defines a customer as a distinct entity that uses the Company's data or services. The Company sells directly to customers, as well as indirectly through its partner network. If a partner does not provide the end customer's name, then the partner is reported as the customer. Each customer, regardless of the number of active opportunities with the Company, is counted only once. For example, if a customer utilizes multiple products of Planet, the Company only counts that customer once for purposes of EoP customer count. A customer with multiple divisions, segments, or subsidiaries are also counted as a single unique customer based on the parent organization or parent account. For EoP customer count, the Company does not include users that only utilize the Company's self-service Planet Insights Platform web based ordering system, which the Company acquired in August 2023, and which offers standard starter packages on a monthly or annual basis. The Company believes excluding these users from EoP customer count creates a more useful metric, as the Company views the Planet Insights Platform starter packages as entry points for smaller accounts, leading to broader awareness of the Company's solutions throughout their networks and organizations. The Company believes EoP customer count is a useful metric for investors and management to track as it is an important indicator of the broader adoption of the Company's platform and is a measure of the Company's success in growing its market presence and penetration. Management applies judgment as to which customers are deemed to have an active contract in a period, as well as whether a customer is a distinct entity that uses the Company's data or services. Capital Expenditures as a Percentage of Revenue: The Company defines capital expenditures as purchases of property and equipment plus capitalized internally developed software development costs, which are included in our statements of cash flows from investing activities. The Company defines capital expenditures as a percentage of revenue as the total amount of capital expenditures divided by total revenue in the reported period. Capital expenditures as a percentage of revenue is a performance measure that we use to evaluate the appropriate level of capital expenditures needed to support demand for the Company's data services and related revenue, and to provide a comparable view of the Company's performance relative to other earth observation companies, which may invest significantly greater amounts in their satellites to deliver their data to customers. The Company uses an agile space systems strategy, which means we invest in a larger number of significantly lower cost satellites and software infrastructure to automate the management of the satellites and to deliver the Company's data to clients. As a result of the Company's strategy and business model, the Company's capital expenditures may be more similar to software companies with large data center infrastructure costs. Therefore, the Company believes it is important to look at the level of capital expenditure investments relative to revenue when evaluating the Company's performance relative to other earth observation companies or to other software and data companies with significant data center infrastructure investment requirements. The Company believes capital expenditures as a percentage of revenue is a useful metric for investors because it provides visibility to the level of capital expenditures required to operate the Company and the Company's relative capital efficiency. Net Dollar Retention Rate: The Company defines Net Dollar Retention Rate as the percentage of ACV generated by existing customers in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Company defines existing customers as customers with an active contract with the Company. The Company believes Net Dollar Retention Rate is a useful metric for investors as it can be used to measure its ability to retain and grow revenue generated from its existing customers, on which its ability to drive long-term growth and profitability is, in part, dependent. The Company uses Net Dollar Retention Rate to assess customer adoption of new products, inform opportunities to make improvements across its products, identify opportunities to improve operations, and manage go to market functions, as well as to understand how much future growth may come from cross-selling and up-selling customers. Management applies judgment in determining the value of active contracts in a given period, as set forth in the definition of ACV. Net Dollar Retention Rate including Winbacks: The Company assesses two metrics for net dollar retention–Net Dollar Retention Rate, as described above, and Net Dollar Retention Rate including winbacks. A winback is a previously existing customer that was inactive at the start of the measurement period but has reactivated during the measurement period. The reactivation period must be within 24 months from the last active contract with the customer; otherwise, the customer is counted as a new customer and therefore excluded from the retention rate metrics. The Company defines Net Dollar Retention Rate including winbacks as the percentage of ACV generated by existing customers and winbacks in a given period as compared to the ACV of all contracts at the beginning of the fiscal year from the same set of existing customers. The Company believes this metric is useful to investors as it captures the value of customer contracts that resume business with the Company after being inactive and thereby provides a quantification of the Company's ability to recapture lost business. Management uses this metric to understand the adoption of our products and long-term customer retention, as well as the success of marketing campaigns and sales initiatives in re-engaging inactive customers. Beyond the judgments underlying managements' calculation of Net Dollar Retention Rate set forth above, there are no additional assumptions or estimates made in connection with Net Dollar Retention Rate including winbacks. 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. Forward-looking statements generally relate to future events or Planet's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'target,' 'anticipate,' 'intend,' 'develop,' 'evolve,' 'plan,' 'seek,' 'may,' 'will,' 'could,' 'can,' 'should,' 'would,' 'believes,' 'predicts,' 'potential,' 'strategy,' 'opportunity,' 'aim,' 'conviction,' 'continue,' 'positioned,' 'structured' or the negative of these words or other similar terms or expressions that concern Planet's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding Planet's financial guidance and outlook, expected financial and operating results, the expected value of contracts that Planet has entered into and the timing and amount of revenue that Planet will recognize, Planet's growth opportunities, Planet's expectations regarding future product development and performance, including with respect to AI, Planet's expectations regarding the launch and operations of its satellites, including with respect to timing, and Planet's expectations regarding its strategies with respect to its markets and customers, including trends in customer demand. Planet's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding Planet's ability to forecast Planet's performance due to Planet's limited operating history. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Planet's filings with the Securities and Exchange Commission ('SEC'), including Planet's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent filings with the SEC that Planet may make. All forward-looking statements reflect Planet's beliefs and assumptions only as of the date of this press release. Planet undertakes no obligation to update forward-looking statements to reflect future events or circumstances, except as may be required by law. Planet's results for the quarter ended April 30, 2025, are not necessarily indicative of its operating results for any future periods. PLANET Three Months Ended April 30, (In thousands, except share and per share amounts) 2025 2024 Revenue $ 66,265 $ 60,440 Cost of revenue 29,662 28,757 Gross profit 36,603 31,683 Operating expenses Research and development 23,074 25,589 Sales and marketing 16,314 21,485 General and administrative 19,986 19,180 Total operating expenses 59,374 66,254 Loss from operations (22,771 ) (34,571 ) Interest income 1,884 3,107 Change in fair value of warrant liabilities 10,387 1,530 Other income (expense), net (1,200 ) 1,083 Total other income, net 11,071 5,720 Loss before provision for income taxes (11,700 ) (28,851 ) Provision for income taxes 928 442 Net loss (12,628 ) (29,293 ) Basic and diluted net loss per share attributable to common stockholders $ (0.04 ) $ (0.10 ) Basic and diluted weighted-average common shares outstanding used in computing net loss per share attributable to common stockholders 300,267,952 288,268,718 Expand PLANET Three Months Ended April 30, (in thousands) 2025 2024 Net loss $ (12,628 ) $ (29,293 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustment 4,775 (534 ) Change in fair value of available-for-sale securities 16 (512 ) Other comprehensive income (loss), net of tax 4,791 (1,046 ) Comprehensive loss $ (7,837 ) $ (30,339 ) Expand PLANET CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Three Months Ended April 30, (In thousands) 2025 2024 Operating activities Net loss $ (12,628 ) $ (29,293 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities Depreciation and amortization 11,082 13,103 Stock-based compensation, net of capitalized cost 12,542 13,072 Change in fair value of warrant liabilities (10,387 ) (1,530 ) Change in fair value of contingent consideration (41 ) (101 ) Other 1,229 (547 ) Changes in operating assets and liabilities Accounts receivable (21,185 ) 5,482 Prepaid expenses and other assets 1,254 (731 ) Accounts payable, accrued and other liabilities (8,915 ) (5,237 ) Deferred revenue 42,072 (721 ) Deferred hosting costs 2,323 2,206 Net cash provided by (used in) operating activities 17,346 (4,297 ) Investing activities Purchases of property and equipment (8,119 ) (9,938 ) Capitalized internal-use software (1,225 ) (1,418 ) Maturities of available-for-sale securities 11,123 32,158 Sales of available-for-sale securities 582 43,116 Purchases of available-for-sale securities — (28,043 ) Business acquisition, net of cash acquired — (1,068 ) Purchases of licensed imagery intangible assets (621 ) (4,024 ) Other — (300 ) Net cash provided by investing activities 1,740 30,483 Financing activities Proceeds from the exercise of common stock options 2,962 20 Payments for withholding taxes related to the net share settlement of equity awards (5,264 ) (2,015 ) Proceeds from employee stock purchase program 346 — Payments of contingent consideration for business acquisitions (4,820 ) — Other (2,383 ) (380 ) Net cash used in financing activities (9,159 ) (2,375 ) Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents 5,683 (276 ) Net increase in cash and cash equivalents, and restricted cash and cash equivalents 15,610 23,535 Cash and cash equivalents, and restricted cash and cash equivalents at the beginning of the period 129,994 102,198 Cash and cash equivalents, and restricted cash and cash equivalents at the end of the period $ 145,604 $ 125,733 Expand PLANET Three Months Ended April 30, (in thousands) 2025 2024 Net loss $ (12,628 ) $ (29,293 ) Interest income (1,884 ) (3,107 ) Income tax provision 928 442 Depreciation and amortization 11,082 13,103 Change in fair value of warrant liabilities (10,387 ) (1,530 ) Stock-based compensation 12,542 13,072 Restructuring costs 20 — Certain litigation expenses (1) 326 — Other (income) expense, net 1,200 (1,083 ) Adjusted EBITDA $ 1,199 $ (8,396 ) (1) Expenses relating to the Delaware class action lawsuit. Expand PLANET Three Months Ended April 30, (in thousands) 2025 2024 Reconciliation of cost of revenue: GAAP cost of revenue $ 29,662 $ 28,757 Less: Stock-based compensation 1,541 876 Less: Amortization of acquired intangible assets 691 789 Less: Restructuring costs 15 — Non-GAAP cost of revenue $ 27,415 $ 27,092 Reconciliation of gross profit: GAAP gross profit $ 36,603 $ 31,683 Add: Stock-based compensation 1,541 876 Add: Amortization of acquired intangible assets 691 789 Add: Restructuring costs 15 — Non-GAAP gross profit $ 38,850 $ 33,348 GAAP gross margin 55 % 52 % Non-GAAP gross margin 59 % 55 % Reconciliation of operating expenses: GAAP research and development $ 23,074 $ 25,589 Less: Stock-based compensation 4,037 5,163 Non-GAAP research and development $ 19,037 $ 20,426 GAAP sales and marketing $ 16,314 $ 21,485 Less: Stock-based compensation 1,929 2,403 Less: Amortization of acquired intangible assets 92 217 Less: Restructuring costs 6 — Non-GAAP sales and marketing $ 14,287 $ 18,865 GAAP general and administrative $ 19,986 $ 19,180 Less: Stock-based compensation 5,035 4,630 Less: Amortization of acquired intangible assets 29 79 Less: Restructuring costs (1 ) — Less: Certain litigation expenses 326 — Non-GAAP general and administrative $ 14,597 $ 14,471 Reconciliation of loss from operations GAAP loss from operations $ (22,771 ) $ (34,571 ) Add: Stock-based compensation 12,542 13,072 Add: Amortization of acquired intangible assets 812 1,085 Add: Restructuring costs 20 — Add: Certain litigation expenses 326 — Non-GAAP loss from operations $ (9,071 ) $ (20,414 ) Expand PLANET Three Months Ended April 30, (In thousands, except share and per share amounts) 2025 2024 Reconciliation of net loss GAAP net loss $ (12,628 ) $ (29,293 ) Add: Stock-based compensation 12,542 13,072 Add: Amortization of acquired intangible assets 812 1,085 Add: Restructuring costs 20 — Add: Certain litigation expenses 326 — Income tax effect of non-GAAP adjustments — — Non-GAAP net income (loss) $ 1,072 $ (15,136 ) Reconciliation of net loss per share, diluted GAAP net loss $ (12,628 ) $ (29,293 ) Non-GAAP net income (loss) $ 1,072 $ (15,136 ) GAAP net loss per share, basic and diluted (1) $ (0.04 ) $ (0.10 ) Add: Stock-based compensation 0.04 0.05 Add: Amortization of acquired intangible assets — — Add: Restructuring costs — — Add: Certain litigation expenses — — Income tax effect of non-GAAP adjustments — — Non-GAAP net income (loss) per share, diluted (2) (3) $ — $ (0.05 ) Weighted-average shares used in computing GAAP net loss per share, basic and diluted (1) 300,267,952 288,268,718 Weighted-average shares used in computing Non-GAAP net income (loss) per share, diluted (2) 314,969,299 288,268,718 (1) Basic and diluted GAAP net loss per share was the same for each period presented as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive. (2) Non-GAAP net income (loss) per share, diluted is calculated using weighted-average shares, adjusted for dilutive potential shares assumed outstanding during the period. No adjustment was made to weighted-average shares for the three months ended April 30, 2024 as the inclusion of all potential Class A common stock and Class B common stock outstanding would have been anti-dilutive. (3) Totals may not sum due to rounding. Figures are calculated based upon the respective underlying non-rounded data. Note: In connection with the preparation of this earnings release, we identified immaterial errors in the Non-GAAP net loss per share previously reported on December 9, 2024 and March 20, 2025. The errors related to the application of income tax effects on non-GAAP adjustments. The corrected Non-GAAP net loss per share amounts and periods impacted are as follows: – Three months ended October 31, 2024: ($0.03) (previously reported as ($0.02)) – Three months ended January 31, 2025: ($0.07) (previously reported as ($0.08)) – Fiscal year ended January 31, 2025: ($0.21) (previously reported as ($0.20)) While the corrected amounts are not presented in the tables herein, we are disclosing the corrections for transparency. The corrections had no impact on our previously reported GAAP financial results, including GAAP net loss or GAAP net loss per share. Expand PLANET The table below reconciles Backlog to remaining performance obligations for the periods indicated: (in thousands) April 30, 2025 January 31, 2025 Remaining performance obligations $ 451,928 $ 412,829 Cancelable amount of contract value 75,119 90,920 Backlog $ 527,047 $ 503,749 For remaining performance obligations and Backlog as of April 30, 2025, the Company expects to recognize approximately 45% over the next 12 months, approximately 76% over the next 24 months, and the remainder thereafter. Expand PLANET Three Months Ended April 30, (in thousands) 2025 2024 Net cash provided by (used in) operating activities $ 17,346 $ (4,297 ) Purchases of property and equipment (8,119 ) (9,938 ) Capitalized internal-use software (1,225 ) (1,418 ) Free cash flow $ 8,002 $ (15,653 ) Expand
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MAX Power Announces Appointment of Ryan Cheung as CFO
VANCOUVER, BRITISH COLUMBIA - June 5, 2025 (NEWMEDIAWIRE) - MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) ("MAX Power" or the "Company") announces that Mr. Ryan Cheung has been appointed as Chief Financial Officer of the Company, effective May 20, 2025. Mr. Cheung brings a wealth of experience and a proven track record in financial oversight to MAX Power as it continues to advance its strategic goals in the resource sector. Mr. Cheung, CPA, CA, is the founder and managing partner of MCPA Services Inc., Chartered Professional Accountants, in Vancouver, B.C. Leveraging his experience as a former auditor of junior mining and resource companies, Mr. Cheung serves as a director and/or officer or consultant for public and private companies providing financial reporting, taxation and strategic guidance. He has been an active member of the Institute of Chartered Professional Accountants of British Columbia since January 2008. Mr. Cheung holds a Bachelor of Commerce in International Business from the University of Victoria. The Company further announces that Mr. Byran Loree has resigned as the Chief Financial Officer and as a Director for the Company. "On behalf of the members of the Board and management team of MAX Power, I would like to thank Bryan for his valued contributions and commitment to the success of the Company since its inception in 2021 followed by its successful listing on the CSE in early 2022," stated Mr. Mansoor Jan, President and CEO. "Bryan's efforts have helped position the Company for great success moving forward. We wish him all the best in his future endeavors." About MAX Power MAX Power is an innovative mineral exploration company focused on North America's shift to decarbonization. MAX Power is a first mover in the rapidly growing Natural Hydrogen sector, through strategic alliances with Calgary-based Chapman Hydrogen & Petroleum Engineering Ltd., and European-based Larin Engineering HHC. MAX Power also holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona. On behalf of the Board of Directors, MAX Power Mining For further information, please contact: Chad Levesque, Investor RelationsPh: 1-306-981-4753 Email: ChadLevesqueConsulting@ Forward-Looking Statement Cautions This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to natural hydrogen, exploration and acquisition of Natural Hydrogen properties; ability to locate, discover and/or extract natural hydrogen from the subsurface, commentary as it relates to the opportune timing to carry out Natural Hydrogen exploration, and any anticipated increasing demand for Natural Hydrogen; any results and updates thereto as it relates to any future drill program, and the funding of that program; and upcoming press releases by the Company. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts. They are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the CSE, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out its exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at for a more complete discussion of such risk factors and their potential 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
