Latest news with #Builder
The Sun
2 days ago
- Business
- The Sun
Teen bricklayer's message to unemployed young Brits as thousands urged to learn skills for the housing trade
BRICKLAYER Brooke Knight has a message for nearly one million young Brits currently out of work: Get a skill and get a life. The 18-year-old is no stranger to hard graft and started training in her job two years ago. 6 6 Since then, she has qualified and seen her salary soar. And now she is urging other young people to take her lead and lay the foundations of their own career in construction. She said: ''There are so many jobs up for grabs. It gives a skill for life, there are no college fees and you can earn thousands a week after tax. 'For those who didn't get the A-level results they wanted — or didn't take them in the first place — construction could be a brilliant option.' Brooke got her first job thanks to The Sun on Sunday's Builder Better Britain campaign, which we launched to highlight the need for more British workers instead of hiring migrants to do jobs. After reading our bumper apprenticeship vacancies list, she applied for a role and started work at 16. This week, Women and Equalities Minister Bridget Phillipson welcomed our campaign, saying a shortage of workers in the building trade is making the housing crisis worse. 'Like a big family' And she announced ten new Construction Technical Excellence Colleges to teach homegrown talent to build the homes, schools and hospitals that Britain is crying out for. The learning hubs will help train some of the 12.5 per cent of all 16 to 24-year-olds — around one million youngsters — known as NEETs, meaning they are not in education, employment or training. Brooke said: 'I always wanted a practical role, but after reading your vacancies pullout, I finally had a breakthrough and was over the moon to land the job. I'm a hands-on person and the construction industry runs in my family, so I thought, 'Why not give it a go?'. 'I can't thank The Sun on Sunday enough. And I would urge others to do what I did. I think it's really important for British people to apply for the jobs out there. 'There are already lots of foreign workers filling positions, but why shouldn't they go to people already living here if we can train them up properly? 'On my site, we are struggling for good bricklayers. People do not want to work in this trade because they feel like they can't be bothered and it will be too much hard work. 'But it's a job. You can apply straight out of school and then keep working in until you retire. I would 100 per cent recommend it.' Highlighting the financial benefits, Brooke added: 'As an apprentice, you start off on about £80 a day, but that can go up to £130 a day once you qualify. You could end up taking home thousands a week after tax if you play your cards right. 'Yes, there are tough days, but you learn a bit of everything, whether it's bricklaying or plumbing or insulation, and I enjoy working on site. The lads look out for me. We're like a big family, really.' Brooke from Swindon, thrives on the variety her job brings. She said: 'You are always moving around taking on different jobs. Plus, we build a house from the base and it's great being able to see the work in progress and, once you finish, you're like, 'Wow, I built all that'.' Toby Gouldson won his civil engineering apprenticeship at Alan Wood And Partners in Yorkshire with help from The Sun on Sunday. The 18-year-old, from Brough, said at the time: 'The Sun on Sunday's pullout was a massive help. 'I'm not sure I would have landed a job without it.' The £100million in funding for the new technical colleges will train 40,000 brickies, roofers and electricians by 2029. Revealing the plans, Bridget Phillipson said: 'If you're an out-of-work young person or someone looking for a new career, get up, get skills and get building.' Construction boss Ian Hodgkinson, from TV show DIY SOS, is angry there are so many NEETs. He said: 'The reality is we're paying for NEETs — unemployment benefits, Universal Credit, housing support, even the knock-on costs of poor health and crime prevention. 'Don't have to be butch' 'Flip it and the same funding could be invested in practical, skills-based training that turns NEETs into productive, tax-paying tradespeople.' Emma Hulme, 39, is so passionate about getting women into the male-dominated building industry that she gives school talks championing the trade to young girls. She became a bricklayer in 2019 after being a physiotherapist for 14 years. Emma, who now runs the Builder Girl firm in Northwich, Cheshire, said: 'I got divorced and I was doing up my own four-bedroom house as I got let down by trade after trade. Typical story. 'I did a few odd jobs and, from word of mouth, it got a little busy. 6 6 6 'A few people started calling me 'builder girl', which I thought was pretty cool, and I handed in my notice and I haven't looked back.' Now, the mum-of-one has a team of 25, but is still the only woman. She said: 'It's the stereotypical thing, but ladies football has changed and I hope that when people see my van on the road, they might think, 'Oh, maybe I can do that if she does'. "There is very good money in the building industry. If you want to have a physical job, it's fantastic. You don't have to be that stereotypical butch female builder. 'I'm a normal woman and yes, you do have to be fit, but you don't need to be all big and scary and muscly.' Jermaine Lucas, 17, from Hull, admits he didn't like school and quit without taking his exams. I've always wanted a practical role, but after reading your vacancies pullout, I had a breakthrough and was over the moon to land the job. I can't thank The Sun on Sunday enough Brooke Knight But he loves learning on the job and, since March, has been an apprentice bricklayer after taking a course at Orchard Training Education. He said: 'I struggled at school, so they offered me the alternative of going twice a week to learn joinery and bricklaying. 'I enjoyed bricklaying and I got pretty good at it, so I thought I'd go for that. I didn't like sitting in a classroom. Doing this, I learn something new every day. 'We've just built seven houses and a bungalow, and we're about to start building another bungalow, so we're busy. 'We mainly build private houses for people who have just retired, and it's nice to think that you're not just helping them out, you're giving them a roof over their head and have built their dream home. 'I'm on £264 a week, a good wage when you're 17, and once I qualify, I could be on about £200 a day. I've had a lot of friends looking at me, because I dropped out of school, who are now desperate to work. So to anyone thinking of taking up a trade, I say go for it. 'It's 100 per cent better than sitting at home watching TV.' TIME TO DO US PROUD By Bridget Phillipson, Women and Equalities Minister OVER the summer, our heroic Lionesses showed us yet again how women can smash down barriers and defy stereotypes to do Britain proud. To get this country back on track, we need to give our young people the skills to succeed. That means action, not more empty words. That's why I announced our new state-of-the-art Construction Technical Excellence Colleges. This is investment in home-grown talent, ending our reliance on imported labour. It means skills, jobs and homes for Brits, and growth for the economy. The Sun on Sunday's fantastic Builder Better Britain campaign is just what we need. Brooke and Emma are leading the way for women, but we need more of them. Whether it's playing football or laying bricks, we can't just leave it to the boys.
Yahoo
3 days ago
- Business
- Yahoo
DraftKings Secures Direct Mobile Sports Betting License to Operate in Missouri
BOSTON, Aug. 15, 2025 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) announced today that the Missouri Gaming Commission has granted the company a direct mobile sports betting license. This direct mobile sports betting license will enable DraftKings to operate independently across the state of Missouri, without the need for affiliation with a land-based casino or professional sports team. DraftKings' online sportsbook would go live on the universal launch date currently expected for December 1, 2025, contingent on final regulatory approvals. 'We're pleased to secure one of two direct mobile licenses in Missouri — paving the way for us to bring DraftKings' industry-leading online sportsbook to fans across the state,' said Matt Kalish, President, DraftKings North America. 'Missouri is home to several professional teams and deeply passionate fanbases, and we look forward to enhancing their sports experience with a dynamic and responsible mobile platform.' Once live, Missouri will become the 29th U.S. state where DraftKings operates regulated sports betting. The company also offers regulated online sports betting in Washington D.C. and Ontario, Canada. DraftKings is dedicated to providing a fun gaming environment that all customers can enjoy responsibly in states where sports betting is legal. The company offers a suite of responsible gaming tools and resources. These include My Stat Sheet, which allows customers to monitor personalized gaming activity, and My Budget Builder, a tool that helps players set custom limits and reminders through a guided, easy-to-use experience. With a proven track record in regulated markets, DraftKings continues to expand access to innovative and responsible sports betting experiences across North America. As part of its commitment to the states in which the company operates, DraftKings is dedicated to supporting communities in times of need through its S.E.R.V.E.S. program. The program provides inclusive and responsible opportunities for people to build, create, imagine and innovate. Earlier this year, DraftKings made a charitable donation to the St. Louis Tornado Response Fund, part of the St. Louis Community Foundation, to aid recovery efforts following the devastating tornado that struck the Greater St. Louis area in May. More information about DraftKings is available at and fans can download the DraftKings mobile apps via iOS and Android here. About DraftKingsDraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. The company is headquartered in Boston and was launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman. DraftKings' mission is to make life more exciting by responsibly creating the world's favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C. and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. DraftKings also owns Jackpocket, the leading digital lottery courier app in the United States. DraftKings' daily fantasy sports product is available in 44 states, the District of Columbia and certain Canadian provinces. DraftKings is both an official sports betting and daily fantasy partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates DraftKings Network a multi-platform content ecosystem. DraftKings is committed to being a responsible steward of this new era in real-money gaming by developing and promoting educational information and tools to help all players enjoy our games responsibly. Forward-Looking StatementsCertain statements made in this press release are 'forward looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. When used in this press release, the words 'estimates,' 'projected,' 'expects,' 'anticipates,' 'forecasts,' 'plans,' 'intends,' 'believes,' 'seeks,' 'may,' 'will,' 'would,' 'should,' 'future,' 'propose' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings' control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings' filings with the Securities and Exchange Commission. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by 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
29-07-2025
- Business
- Yahoo
Quad Reports Second Quarter and Year-to-Date 2025 Results
Reaffirms Full-Year 2025 Financial Guidance Continues Investing in Strategic Growth Areas — Data and Audience Intelligence, AI-Enabled Tools and Systems, and In-Store Retail Media Network SUSSEX, Wisc., July 29, 2025 /PRNewswire/ -- Quad/Graphics, Inc. (NYSE: QUAD) ("Quad" or the "Company"), a marketing experience company that solves complex marketing challenges for its clients, today reported results for the second quarter ended June 30, 2025. Recent Highlights Realized Net Sales of $572 million in the second quarter of 2025 compared to $634 million in the second quarter of 2024, representing a 10% decline in Net Sales. Net Sales declined 4% when excluding the 6% impact of the February 28, 2025, divestiture of the Company's European operations. Recognized Net Loss of $0.1 million or $0.00 Diluted Loss Per Share in the second quarter of 2025, compared to a Net Loss of $3 million or $0.06 Diluted Loss Per Share in 2024. Achieved Non-GAAP Adjusted EBITDA of $43 million in the second quarter of 2025, compared to $52 million in 2024. Reported $0.14 Adjusted Diluted Earnings Per Share in the second quarter of 2025, increased from $0.12 per share in 2024. Released Audience Builder 2.0, continuing to activate Quad's proprietary household-based data stack with clients to enhance media buying with precision at scale and to increase response rates through improved audience intelligence. Announced In-Store Connect retail media network partnership with Vallarta Supermarkets, one of California's leading Latino-owned grocery chains. Repurchased 1.4 million shares of Quad Class A common stock in 2025, bringing total repurchases to 7.3 million shares since commencing buybacks in 2022, representing approximately 13% of Quad's March 31, 2022, outstanding shares. Declared quarterly dividend of $0.075 per share. Reaffirms full-year 2025 financial guidance. Joel Quadracci, Chairman, President and Chief Executive Officer of Quad, said: "Second quarter and year-to-date results met our expectations as we continue to differentiate ourselves as a marketing experience company that simplifies the complexities of marketing for brands and marketers. This includes ongoing investments in strategic growth areas such as data and audience intelligence, AI-enabled tools and systems, and our In-Store Connect retail media network. We remain confident in Quad's vision and our ability to unlock diversified growth, improve print and marketing efficiencies, and create value for our stakeholders. "Marketers increasingly rely on audience intelligence to drive stronger campaign outcomes and quantifiable ROI, and Quad's proprietary household-based data stack gives us a competitive edge. We are actively applying our AI-powered data stack to client work across all channels—digital and physical. With strategic insights on 92% of U.S. households—including demographic, transactional, attitudinal and behavioral characteristics as well as personal interests or, what we call, passions—we are able to connect the right message with the right audience at the right time and in the right channels. In the quarter, we launched Audience Builder 2.0, an AI-powered tool that enables Quad employees to easily create complex, high-propensity audiences. This represents a significant milestone in data activation. "We continue to grow our In-Store Connect retail media network among mid-market grocers and CPG brands seeking deeper engagement with high-value shopper audiences. We recently signed a new partnership with Vallarta, one of California's leading Latino-owned grocery chains, and doubled our footprint with The Save Mart Companies. Campaigns leveraging In-Store Connect have been shown to drive greater brand awareness and product sales—especially when promotional offers are included—and also boost sales across entire product categories. Through our solution, we continue to help brick-and-mortar retailers adapt their marketing strategies and tactics to keep pace with an ever-evolving media landscape." Added Tony Staniak, Chief Financial Officer of Quad: "Despite ongoing uncertainties in the macroeconomic environment, we are reaffirming our 2025 guidance. We will continue to closely monitor the potential impacts of tariffs and inflationary pressures, as well as postal rate increases, on our clients while investing in innovative offerings to achieve our long-term financial goals, including net sales growth. Additionally, with our balanced capital allocation we have returned $15 million of capital to shareholders thus far in 2025 through our quarterly dividend of $0.075 per share and share repurchases. Year-to-date, we repurchased 1.4 million shares, bringing total repurchases to 7.3 million shares since commencing buybacks in 2022, representing approximately 13% of our March 31, 2022, outstanding shares. Our next quarterly dividend is payable September 5, 2025, and we expect to continue to be opportunistic in terms of future share repurchases." Second Quarter 2025 Financial Results Net Sales were $572 million in the second quarter of 2025, a decrease of 10% compared to the same period in 2024. Excluding the 6% impact of the divestiture of the Company's European operations, Net Sales declined 4%. The decline in Net Sales was primarily due to lower paper and logistics sales. Net Loss was $0.1 million, or $0.00 Diluted Loss Per Share, in the second quarter of 2025 compared to Net Loss of $3 million, or $0.06 Diluted Loss Per Share, in the second quarter of 2024. The improvement was primarily due to lower selling, general and administrative expenses, lower depreciation and amortization, lower interest expense, benefits from increased manufacturing productivity and savings from cost reduction initiatives, partially offset by the impact from lower Net Sales, increased investments in innovative offerings to drive future revenue growth, and the divestiture of the Company's European operations. Adjusted EBITDA was $43 million in the second quarter of 2025 as compared to $52 million in the same period in 2024. The decrease was primarily due to the impact of lower sales, increased investments in innovative offerings to drive future revenue growth, and the divestiture of the Company's European operations, partially offset by lower selling, general and administrative expenses, benefits from improved manufacturing productivity and savings from cost reduction initiatives. Adjusted Diluted Earnings Per Share was $0.14 in the second quarter of 2025, as compared to $0.12 in the second quarter of 2024. Year-to-Date 2025 Financial Results Net Sales were $1.2 billion in the six months ended June 30, 2025, a decrease of 7% compared to the same period in 2024. Excluding the 4% impact of the divestiture of the Company's European operations, Net Sales declined 3%. The decline in Net Sales was primarily due to lower paper sales and lower logistics and agency solutions sales, including the loss of a large grocery client. Net Earnings were $6 million, or $0.11 Diluted Earnings Per Share, in the six months ended June 30, 2025, compared to Net Loss of $31 million, or $0.65 Diluted Loss Per Share, in the same period in 2024. The improvement was primarily due to lower restructuring, impairment and transaction-related charges, lower depreciation and amortization, lower selling, general and administrative expenses, lower interest expense, benefits from increased manufacturing productivity and savings from cost reduction initiatives, partially offset by the impact from lower Net Sales, increased investments in innovative offerings to drive future revenue growth, and the divestiture of the Company's European operations. Adjusted EBITDA was $89 million in the six months ended June 30, 2025, as compared to $102 million in the same period in 2024. The decrease was primarily due to the impact of lower sales, increased investments in innovative offerings to drive future revenue growth, and the divestiture of the Company's European operations, partially offset by lower selling, general and administrative expenses, benefits from improved manufacturing productivity and savings from cost reduction initiatives. Adjusted Diluted Earnings Per Share was $0.34 in the six months ended June 30, 2025, as compared to $0.22 in the same period in 2024. Net Cash Used in Operating Activities was $42 million in the six months ended June 30, 2025, compared to $48 million in the six months ended June 30, 2024. Free Cash Flow improved $16 million from last year to negative $66 million in the six months ended June 30, 2025, and included $34 million of Free Cash Flow Generation in the second quarter of 2025. The increase in Free Cash Flow was primarily due to higher cash earnings, including lower restructuring payments and lower interest payments, and a $9 million decrease in capital expenditures. As a reminder, the Company historically generates most of its Free Cash Flow in the fourth quarter of the year. Net Debt was $448 million at June 30, 2025, as compared to $350 million at December 31, 2024 and $532 million at June 30, 2024. Compared to December 31, 2024, Net Debt increased primarily due to seasonally negative $66 million of Free Cash Flow in the six months ended June 30, 2025, a $16 million payment for the Enru co-mailing asset acquisition and $15 million return of capital to shareholders through share repurchases and dividends. Dividend Quad's next quarterly dividend of $0.075 per share will be payable on September 5, 2025, to shareholders of record as of August 18, 2025. 2025 Guidance The Company's full-year 2025 financial guidance is unchanged and is as follows: Financial Metric 2025 Guidance Adjusted Annual Net Sales Change (1) 2% to 6% decline Full-Year Adjusted EBITDA $180 million to $220 million Free Cash Flow $40 million to $60 million Capital Expenditures $65 million to $75 million Year-End Debt Leverage Ratio (2) Approximately 1.5x (1) Adjusted Annual Net Sales Change excludes the 2025 Net Sales of $23 million and the 2024 Net Sales of $153 million from the Company's European operations, divested on February 28, 2025. (2) Debt Leverage Ratio is calculated at the midpoint of the Adjusted EBITDA guidance. Conference Call and Webcast Information Quad will hold a conference call at 8:30 a.m. ET on Wednesday, July 30, 2025, hosted by Joel Quadracci, Chairman, President and CEO of Quad, and Tony Staniak, Chief Financial Officer of Quad. The full earnings release and slide presentation will be concurrently available on the Investors section of Quad's website at As part of the conference call, Quad will conduct a question-and-answer session. Participants can pre-register for the webcast by navigating to Participants will be given a unique PIN to access the call on July 30. Participants may pre-register at any time, including up to and after the call start time. Alternatively, participants may dial in on the day of the call as follows: U.S. Toll-Free: 1-877-328-5508 International Toll: 1-412-317-5424 An audio replay of the call will be posted on the Investors section of Quad's website shortly after the conference call ends. In addition, telephone playback will also be available until August 30, 2025, accessible as follows: U.S. Toll-Free: 1-877-344-7529 International Toll: 1-412-317-0088 Replay Access Code: 4343586 About Quad Quad (NYSE: QUAD) is a marketing experience, or MX, company that helps brands make direct consumer connections, from household to in-store to online. The company does this through its MX Solutions Suite, a comprehensive range of marketing and print services that seamlessly integrate creative, production and media solutions across online and offline channels. Supported by state-of-the-art technology and data-driven intelligence, Quad simplifies the complexities of marketing by removing friction wherever it occurs along the marketing journey. The company tailors its uniquely flexible, scalable and connected solutions to each clients' objectives, driving cost efficiencies, improving speed-to-market, strengthening marketing effectiveness and delivering value on client investments. Quad employs approximately 11,000 people in 11 countries and serves approximately 2,100 clients including industry leading blue-chip companies that serve both businesses and consumers in multiple industry verticals, with a particular focus on commerce, including retail, consumer packaged goods, and direct-to-consumer; financial services; and health. Quad is ranked among the largest agency companies in the U.S. by Ad Age, buoyed by its full-service media agency, Rise, and creative agency, Betty. Quad is also one of the largest commercial printers in North America, according to Printing Impressions. For more information about Quad, including its commitment to operating responsibly, intentional innovation and values-driven culture, visit Forward-Looking Statements This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, our current expectations about the Company's future results, financial condition, sales, earnings, free cash flow, margins, objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook of the Company and can generally be identified by the use of words or phrases such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "project," "believe," "continue" or the negatives of these terms, variations on them and other similar expressions. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results to materially differ include, among others: the impact of increased business complexity as a result of the Company's transformation to a marketing experience company, including adapting marketing offerings and business processes as required by new markets and technologies, such as artificial intelligence; the impact of decreasing demand for printing services and significant overcapacity in a highly competitive environment creates downward pricing pressures and potential under-utilization of assets; the impact of increases in its operating costs, including the cost and availability of raw materials (such as paper, ink components and other materials), inventory, parts for equipment, labor, fuel and other energy costs and freight rates; the impact of changes in postal rates, service levels or regulations; the impact macroeconomic conditions, including inflation and elevated interest rates, as well as postal rate increases, tariffs, trade restrictions, cost pressures and the price and availability of paper, have had, and may continue to have, on the Company's business, financial condition, cash flows and results of operations (including future uncertain impacts); the inability of the Company to reduce costs and improve operating efficiency rapidly enough to meet market conditions; the impact of a data-breach of sensitive information, ransomware attack or other cyber incident on the Company; the fragility and decline in overall distribution channels; the failure to attract and retain qualified talent across the enterprise; the impact of digital media and similar technological changes, including digital substitution by consumers; the failure of clients to perform under contracts or to renew contracts with clients on favorable terms or at all; the impact of risks associated with the operations outside of the United States ("U.S."), including trade restrictions, currency fluctuations, the global economy, costs incurred or reputational damage suffered due to improper conduct of its employees, contractors or agents, and geopolitical events like war and terrorism; the impact negative publicity could have on our business and brand reputation; the failure to successfully identify, manage, complete, integrate and/or achieve the intended benefits of acquisitions, investment opportunities or other significant transactions, as well as the successful identification and execution of strategic divestitures; the impact of significant capital expenditures and investments that may be needed to sustain and grow the Company's platforms, processes, systems, client and product technology, marketing and talent, to remain technologically and economically competitive, and to adapt to future changes, such as artificial intelligence; the impact of the various restrictive covenants in the Company's debt facilities on the Company's ability to operate its business, as well as the uncertain negative impacts macroeconomic conditions may have on the Company's ability to continue to be in compliance with these restrictive covenants; the impact of an other than temporary decline in operating results and enterprise value that could lead to non-cash impairment charges due to the impairment of property, plant and equipment and other intangible assets; the impact of regulatory matters and legislative developments or changes in laws, including changes in cyber-security, privacy and environmental laws; and the impact on the holders of Quad's class A common stock of a limited active market for such shares and the inability to independently elect directors or control decisions due to the voting power of the class B common stock; and the other risk factors identified in the Company's most recent Annual Report on Form 10-K, which may be amended or supplemented by subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission. Except to the extent required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures This press release contains financial measures not prepared in accordance with generally accepted accounting principles (referred to as non-GAAP), specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. Adjusted EBITDA is defined as net earnings (loss) excluding interest expense, income tax expense, depreciation and amortization (EBITDA) and restructuring, impairment and transaction-related charges, net. EBITDA Margin and Adjusted EBITDA Margin are defined as either EBITDA or Adjusted EBITDA divided by net sales. Free Cash Flow is defined as net cash used in operating activities less purchases of property, plant and equipment. Debt Leverage Ratio is defined as total debt and finance lease obligations less cash and cash equivalents (Net Debt) divided by the last twelve months of Adjusted EBITDA. Adjusted Diluted Earnings Per Share is defined as earnings (loss) before income taxes excluding restructuring, impairment and transaction-related charges, net, and adjusted for income tax expense at a normalized tax rate, divided by diluted weighted average number of common shares outstanding. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows used in operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. Reconciliations to the GAAP equivalent of these non-GAAP measures are contained in tabular form on the attached unaudited financial statements. Investor Relations ContactDon PontesExecutive Director of Investor Relations916-532-7074dwpontes@ Media ContactClaire HoDirector of Corporate Communications414-566-2955cho@ QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ended June 30, 2025 and 2024 (in millions, except per share data) (UNAUDITED) Three Months Ended June 30,20252024 Net sales $ 571.9$ 634.2 Cost of sales 448.1493.9 Selling, general and administrative expenses 80.288.7 Depreciation and amortization 20.726.4 Restructuring, impairment and transaction-related charges, net 9.210.1 Total operating expenses 558.2619.1 Operating income 13.715.1 Interest expense 13.217.2 Net pension expense (income) 0.3(0.2) Earnings (loss) before income taxes 0.2(1.9) Income tax expense 0.30.9 Net loss $ (0.1)$ (2.8) Loss per shareBasic and diluted $ 0.00$ (0.06) Weighted average number of common shares outstandingBasic and diluted 47.647.7 QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS For the Six Months Ended June 30, 2025 and 2024 (in millions, except per share data) (UNAUDITED) Six Months Ended June 30,20252024 Net sales $ 1,201.3$ 1,289.0 Cost of sales 948.11,015.2 Selling, general and administrative expenses 163.7171.8 Depreciation and amortization 40.455.0 Restructuring, impairment and transaction-related charges, net 15.842.6 Total operating expenses 1,168.01,284.6 Operating income 33.34.4 Interest expense 25.632.4 Net pension expense (income) 0.7(0.4) Earnings (loss) before income taxes 7.0(27.6) Income tax expense 1.33.3 Net earnings (loss) $ 5.7$ (30.9) Earnings (loss) per shareBasic $ 0.12$ (0.65) Diluted $ 0.11$ (0.65) Weighted average number of common shares outstandingBasic 47.847.4 Diluted 50.147.4 QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2025 and December 31, 2024 (in millions) (UNAUDITED)June 30, 2025December 31,2024 ASSETSCash and cash equivalents $ 6.7$ 29.2 Receivables, less allowances for credit losses 290.0273.2 Inventories 153.4162.4 Prepaid expenses and other current assets 42.769.5 Total current assets 492.8534.3 Property, plant and equipment—net 485.8499.7 Operating lease right-of-use assets—net 74.278.9 Goodwill 107.6100.3 Other intangible assets—net 16.47.2 Other long-term assets 64.078.6 Total assets $ 1,240.8$ 1,299.0 LIABILITIES AND SHAREHOLDERS' EQUITYAccounts payable $ 288.4$ 356.7 Other current liabilities 190.0289.2 Short-term debt and current portion of long-term debt 32.528.0 Current portion of finance lease obligations 0.80.8 Current portion of operating lease obligations 22.624.0 Total current liabilities 534.3698.7 Long-term debt 420.5349.1 Finance lease obligations 1.11.3 Operating lease obligations 57.161.4 Deferred income taxes 3.83.2 Other long-term liabilities 137.0135.4 Total liabilities 1,153.81,249.1 Shareholders' equityPreferred stock —— Common stock 1.41.4 Additional paid-in capital 843.1842.8 Treasury stock, at cost (35.5)(28.0) Accumulated deficit (637.0)(635.1) Accumulated other comprehensive loss (85.0)(131.2) Total shareholders' equity 87.049.9 Total liabilities and shareholders' equity $ 1,240.8$ 1,299.0 QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Six Months Ended June 30, 2025 and 2024 (in millions) (UNAUDITED) Six Months Ended June 30,20252024 OPERATING ACTIVITIESNet earnings (loss) $ 5.7$ (30.9) Adjustments to reconcile net earnings (loss) to net cash used in operating activities:Depreciation and amortization 40.455.0 Impairment charges 4.513.7 Amortization of debt issuance costs and original issue discount 0.80.8 Stock-based compensation 3.84.4 Loss on the sale of a business 0.5— Gain on the sale of an investment —(4.1) Gain on the sale or disposal of property, plant and equipment, net (4.5)(1.4) Deferred income taxes 0.6(0.1) Changes in operating assets and liabilities - net of acquisitions and divestitures (93.4)(85.7) Net cash used in operating activities (41.6)(48.3) INVESTING ACTIVITIESPurchases of property, plant and equipment (24.3)(33.5) Cost investment in unconsolidated entities (0.2)(0.2) Proceeds from the sale of property, plant and equipment 5.34.8 Proceeds from the sale of an investment —22.2 Acquisition of a business (16.3)— Other investing activities (2.7)0.5 Net cash used in investing activities (38.2)(6.2) FINANCING ACTIVITIESPayments of current and long-term debt (13.0)(119.3) Payments of finance lease obligations (0.7)(1.6) Borrowings on revolving credit facilities 678.4776.0 Payments on revolving credit facilities (590.7)(686.4) Proceeds from issuance of long-term debt —52.8 Purchases of treasury stock (7.6)— Equity awards redeemed to pay employees' tax obligations (3.6)(2.1) Payment of cash dividends (7.4)(4.7) Other financing activities —(0.2) Net cash provided by financing activities 55.414.5 Effect of exchange rates on cash and cash equivalents 0.2(0.1) Net decrease in cash and cash equivalents, including cash classified as held for sale (24.2)(40.1) Less: net decrease in cash classified as held for sale (1.7)— Net decrease in cash and cash equivalents (22.5)(40.1) Cash and cash equivalents at beginning of period 29.252.9 Cash and cash equivalents at end of period $ 6.7$ 12.8 QUAD/GRAPHICS, INC. SEGMENT FINANCIAL INFORMATION For the Three and Six Months Ended June 30, 2025 and 2024 (in millions) (UNAUDITED) Net SalesOperating Income (Loss)Restructuring, Impairment and Transaction-Related Charges, Net (1) Three months ended June 30, 2025United States Print and Related Services $ 524.5$ 22.8$ 8.6 International 47.43.90.2 Total operating segments 571.926.78.8 Corporate —(13.0)0.4 Total $ 571.9$ 13.7$ 9.2 Three months ended June 30, 2024United States Print and Related Services $ 544.3$ 25.4$ 9.3 International 89.92.30.8 Total operating segments 634.227.710.1 Corporate —(12.6)— Total $ 634.2$ 15.1$ 10.1 Six months ended June 30, 2025United States Print and Related Services $ 1,078.3$ 54.5$ 12.1 International 123.04.53.0 Total operating segments 1,201.359.015.1 Corporate —(25.7)0.7 Total $ 1,201.3$ 33.3$ 15.8 Six months ended June 30, 2024United States Print and Related Services $ 1,123.2$ 24.1$ 40.9 International 165.85.71.6 Total operating segments 1,289.029.842.5 Corporate —(25.4)0.1 Total $ 1,289.0$ 4.4$ 42.6 ______________________________ (1) Restructuring, impairment and transaction-related charges, net are included within operating income (loss). QUAD/GRAPHICS, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES EBITDA, EBITDA MARGIN, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN For the Three Months Ended June 30, 2025 and 2024 (in millions, except margin data) (UNAUDITED) Three Months Ended June 30,20252024 Net loss $ (0.1)$ (2.8) Interest expense 13.217.2 Income tax expense 0.30.9 Depreciation and amortization 20.726.4 EBITDA (non-GAAP) $ 34.1$ 41.7 EBITDA Margin (non-GAAP) 6.0 %6.6 % Restructuring, impairment and transaction-related charges, net (1) 9.210.1 Adjusted EBITDA (non-GAAP) $ 43.3$ 51.8 Adjusted EBITDA Margin (non-GAAP) 7.6 %8.2 % ______________________________ (1) Operating results for the three months ended June 30, 2025 and 2024, were affected by the following restructuring, impairment and transaction-related charges, net:Three Months Ended June 30,20252024 Employee termination charges (a) $ 5.8$ 3.2 Impairment charges (b) 4.21.1 Transaction-related charges (c) 0.40.4 Integration costs (d) 0.20.1 Other restructuring charges (income) (e) (1.4)5.3 Restructuring, impairment and transaction-related charges, net $ 9.2$ 10.1 ______________________________ (a) Employee termination charges were related to workforce reductions through facility consolidations and separation programs. (b) Impairment charges were for certain property, plant and equipment no longer being utilized in production as a result of facility consolidations and other capacity reduction activities, as well as software licensing and related implementation costs from a terminated project, and charges for operating lease right-of-use assets. (c) Transaction-related charges consisted of professional service fees related to business acquisition and divestiture activities. (d) Integration costs were primarily costs related to the integration of acquired companies. (e) Other restructuring charges (income) primarily include costs to maintain and exit closed facilities, as well as lease exit charges, and are presented net of a $4.3 million gain on the sale of the West Sacramento, California facility during the three months ended June 30, 2025. In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. QUAD/GRAPHICS, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES EBITDA, EBITDA MARGIN, ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN For the Six Months Ended June 30, 2025 and 2024 (in millions, except margin data) (UNAUDITED) Six Months Ended June 30,20252024 Net earnings (loss) $ 5.7$ (30.9) Interest expense 25.632.4 Income tax expense 1.33.3 Depreciation and amortization 40.455.0 EBITDA (non-GAAP) $ 73.0$ 59.8 EBITDA Margin (non-GAAP) 6.1 %4.6 % Restructuring, impairment and transaction-related charges, net (1) 15.842.6 Adjusted EBITDA (non-GAAP) $ 88.8$ 102.4 Adjusted EBITDA Margin (non-GAAP) 7.4 %7.9 % ______________________________ (1) Operating results for the six months ended June 30, 2025 and 2024, were affected by the following restructuring, impairment and transaction-related charges, net:Six Months Ended June 30,20252024 Employee termination charges (a) $ 6.5$ 16.9 Impairment charges (b) 4.513.7 Transaction-related charges (c) 3.00.9 Integration costs (d) 0.20.2 Other restructuring charges (e) 1.610.9 Restructuring, impairment and transaction-related charges, net $ 15.8$ 42.6 ______________________________ (a) Employee termination charges were related to workforce reductions through facility consolidations and separation programs. (b) Impairment charges were for certain property, plant and equipment no longer being utilized in production as a result of facility consolidations and other capacity reduction activities, as well as software licensing and related implementation costs from a terminated project, and charges for operating lease right-of-use assets. (c) Transaction-related charges consisted of professional service fees related to business acquisition and divestiture activities, including charges related to the sale of the European operations. (d) Integration costs were primarily costs related to the integration of acquired companies. (e) Other restructuring charges primarily include costs to maintain and exit closed facilities, as well as lease exit charges, and are presented net of a $4.3 million gain on the sale of the West Sacramento, California facility during the six months ended June 30, 2025. In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. QUAD/GRAPHICS, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES FREE CASH FLOW For the Six Months Ended June 30, 2025 and 2024 (in millions) (UNAUDITED) Six Months Ended June 30,20252024 Net cash used in operating activities $ (41.6)$ (48.3) Less: purchases of property, plant and equipment 24.333.5 Free Cash Flow (non-GAAP) $ (65.9)$ (81.8) In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. QUAD/GRAPHICS, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES NET DEBT AND DEBT LEVERAGE RATIO As of June 30, 2025 and December 31, 2024 (in millions, except ratio) (UNAUDITED)June 30, 2025December 31,2024 Total debt and finance lease obligations on the condensed consolidated balance sheets $ 454.9$ 379.2 Less: Cash and cash equivalents 6.729.2 Net Debt (non-GAAP) $ 448.2$ 350.0 Divided by: trailing twelve months Adjusted EBITDA (non-GAAP) (1) $ 210.4$ 224.0 Debt Leverage Ratio (non-GAAP) 2.13 x 1.56 x ______________________________ (1) The calculation of Adjusted EBITDA for the trailing twelve months ended June 30, 2025, and December 31, 2024, was as follows:AddSubtractTrailing Twelve Months EndedYear EndedSix Months Ended December 31, 2024(a)(UNAUDITED)June 30, 2025(UNAUDITED)June 30, 2024(UNAUDITED)June 30, 2025 Net earnings (loss) $ (50.9)$ 5.7$ (30.9)$ (14.3) Interest expense 64.525.632.457.7 Income tax expense 6.41.33.34.4 Depreciation and amortization 102.540.455.087.9 EBITDA (non-GAAP) $ 122.5$ 73.0$ 59.8$ 135.7 Restructuring, impairment and transaction-related charges, net 101.515.842.674.7 Adjusted EBITDA (non-GAAP) $ 224.0$ 88.8$ 102.4$ 210.4 ______________________________ (a) Financial information for the year ended December 31, 2024, is included as reported in the Company's 2024 Annual Report on Form 10-K filed with the SEC on February 21, 2025. In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. QUAD/GRAPHICS, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES ADJUSTED DILUTED EARNINGS PER SHARE For the Three Months Ended June 30, 2025 and 2024 (in millions, except per share data) (UNAUDITED) Three Months Ended June 30,20252024 Earnings (loss) before income taxes $ 0.2$ (1.9) Restructuring, impairment and transaction-related charges, net 9.210.1 Adjusted net earnings, before income taxes (non-GAAP) 9.48.2 Income tax expense at 25% normalized tax rate 2.42.1 Adjusted net earnings (non-GAAP) $ 7.0$ 6.1 Basic weighted average number of common shares outstanding 47.647.7 Plus: effect of dilutive equity incentive instruments (non-GAAP) 1.92.4 Diluted weighted average number of common shares outstanding (non-GAAP) 49.550.1 Adjusted diluted earnings per share (non-GAAP) (1) $ 0.14$ 0.12 Diluted loss per share (GAAP) $ 0.00$ (0.06) Restructuring, impairment and transaction-related charges, net per share 0.190.20 Income tax expense from condensed consolidated statement of operations per share 0.010.02 Income tax expense at 25% normalized tax rate per share (0.05)(0.04) Effect of dilutive equity incentive instruments (0.01)— Adjusted diluted earnings per share (non-GAAP) (1) $ 0.14$ 0.12 ______________________________ (1) Adjusted diluted earnings per share excludes the following: (i) restructuring, impairment and transaction-related charges, net and (ii) discrete income tax items. In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. QUAD/GRAPHICS, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES ADJUSTED DILUTED EARNINGS PER SHARE For the Six Months Ended June 30, 2025 and 2024 (in millions, except per share data) (UNAUDITED) Six Months Ended June 30,20252024 Earnings (loss) before income taxes $ 7.0$ (27.6) Restructuring, impairment and transaction-related charges, net 15.842.6 Adjusted net earnings, before income taxes (non-GAAP) 22.815.0 Income tax expense at 25% normalized tax rate 5.73.8 Adjusted net earnings (non-GAAP) $ 17.1$ 11.2 Basic weighted average number of common shares outstanding 47.847.4 Plus: effect of dilutive equity incentive instruments (1) 2.32.5 Diluted weighted average number of common shares outstanding (1) 50.149.9 Adjusted diluted earnings per share (non-GAAP) (2) $ 0.34$ 0.22 Diluted earnings (loss) per share (GAAP) $ 0.11$ (0.65) Restructuring, impairment and transaction-related charges, net per share 0.320.85 Income tax expense from condensed consolidated statement of operations per share 0.030.07 Income tax expense at 25% normalized tax rate per share (0.11)(0.08) Effect of dilutive equity incentive instruments (0.01)0.03 Adjusted diluted earnings per share (non-GAAP) (2) $ 0.34$ 0.22 ______________________________ (1) Effect of dilutive equity incentive instruments and diluted weighted average number of common shares outstanding for the six months ended June 30, 2024 are non-GAAP. (2) Adjusted diluted earnings per share excludes the following: (i) restructuring, impairment and transaction-related charges, net and (ii) discrete income tax items. In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States of America (GAAP), this earnings announcement also contains non-GAAP financial measures, specifically EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings Per Share. The Company believes that these non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad's performance and are important measures by which Quad's management assesses the profitability and liquidity of its business. These non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by (used in) operating activities as a measure of liquidity. These non-GAAP measures may be different than non-GAAP financial measures used by other companies. View original content to download multimedia: SOURCE Quad Sign in to access your portfolio
Business Wire
24-07-2025
- Business
- Business Wire
ThetaRay Launches Self-Service Rule Builder and Simulator Giving Compliance Teams Direct Control and Faster Rule Deployment
NEW YORK--(BUSINESS WIRE)-- ThetaRay, a leading provider of Cognitive AI financial crime compliance technology, today announced the launch of its Self-Service Rule Builder and Simulator, two powerful tools enhancing its transaction monitoring solution, enabling compliance teams to create, test, and optimize anti-money laundering (AML) rules faster, with full autonomy and control. 'We designed the Rule Builder and Simulator as truly self-service tools," noted Nitzan Solomon, Senior Vice President of Product of ThetaRay. 'Compliance teams can now manage and adapt their risk strategies independently without sacrificing governance." Designed to streamline compliance processes and reduce operational friction, the Self-Service Rule Builder offers a no-code interface to define complex rule logic — including custom expressions and aggregations, through an intuitive point-and-click workflow. This accelerates response to evolving risks and regulatory updates while reducing operational friction and approval bottlenecks, without relying on IT or vendor support. Paired with the Self-Service Simulator, teams can safely test and analyze the impact of new rules in a secure environment, before deployment without affecting live systems. Multiple rule versions can be loaded into separate simulations and analyzed alongside AI models, helping institutions find the most effective suspicious activity detection strategies without risking production systems. These new capabilities are part of ThetaRay's ongoing mission to equip financial institutions with AI-enhanced tools that strengthen compliance while supporting efficient growth and innovation. Key Compliance Benefits: Autonomy and Speed – Users can build, modify, simulate, and deploy AML rules independently, reducing the rule lifecycle times from weeks to hours. Tailored Risk Coverage – Complex rule logic using no-code customization and aggregation, addressing institution-specific compliance needs with precision. Safe Testing Environment – Validate new rules in a secure simulation environment before going live, ensuring confidence in compliance decisions. Optimized Detection – Simulations help teams evaluate rule and AI combinations for optimal results in detecting financial crime. Seamless Production Deployment – Approved simulations can be applied to production with built-in governance and oversight workflows. 'We designed the Rule Builder and Simulator as truly self-service tools," noted Nitzan Solomon, Senior Vice President of Product of ThetaRay. 'Compliance teams can now manage and adapt their risk strategies independently, with full visibility and auditability, empowering them to respond faster to evolving threats without sacrificing governance." 'This launch represents a fundamental shift in how compliance teams operate,' said Peter Reynolds, CEO of ThetaRay. 'With self-sufficient tools, we put control in our customers' hands, removing operational friction and accelerating their speed and flexibility to adapt to new risks and grow with confidence.' About ThetaRay ThetaRay harnesses the power of Cognitive AI for financial crime compliance, enabling financial institutions to precisely identify legitimate customers while flagging bad actors. The SaaS solutions overcome the limitations of traditional rule-based systems by shortening long implementation lifecycles, enabling efficient, risk-aware compliance operations. By transforming compliance from a regulatory obligation into a driver of growth, ThetaRay allows institutions to scale faster and expand confidently into new markets. By uncovering hidden criminal networks and delivering actionable insights, ThetaRay empowers organizations to combat evolving threats, maintain positive regulator relationships, and enhance customer experiences. Implemented at some of the world's leading financial institutions including Santander, Clear Bank, Mashreq Bank, Payoneer, Onafriq and Travelex, ThetaRay helps financial institutions thrive, fostering trust and confidence across the global financial ecosystem. For more information, visit
The Irish Sun
15-07-2025
- Business
- The Irish Sun
Earn up to €100 in free bets to spend on Premier League football PLUS €70 welcome bonus with BoyleSports
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