Latest news with #Hamlin
Winnipeg Free Press
2 days ago
- Automotive
- Winnipeg Free Press
Denny Hamlin races at Nashville hoping birth of his third child holds off
LEBANON, Tenn. (AP) — Denny Hamlin chose to race Sunday night in the NASCAR Cup Series at Nashville Superspeedway to try to take advantage of his starting spot spot beside pole-sitter Chase Briscoe. Whether Hamlin would chase his third win this season had been in question with his third child, a boy, due Sunday. Hamlin said Saturday he didn't have a timeline for a final decision. His biggest challenge is needing an eight-hour window to travel home. He came into this race as the BetMGM Sportsbook's odds' on favorite to win. He's currently sixth in the points race for Joe Gibbs Racing. He practiced and qualified well, so Hamlin crawled inside his No. 11 Toyota. Joe Gibbs Racing had Ryan Truex on standby in case Hamlin got the call that his fiancee was in labor. Tyler Reddick beat Hamlin, a co-owner of his 23XI Racing team, to new parent status. Reddick announced on social media earlier Sunday that his family welcomed their second son at 2:20 a.m. on May 25. Reddick followed up that delivery by racing and finished 26th that night in the Coca-Cola 600 at Charlotte. Punishment and more penalties possible? Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. AJ Allmendinger started at the back of the field and also had to perform a stop-and-go penalty after the green flag for an unapproved adjustment to the splitter during Saturday's practice. His No. 16 Chevrolet was sent back to the garage and then the scanning station before practice and qualifying. Allmendinger also lost pit stall selection, and his crew chief Jaron Antley was ejected for the rest of this weekend with his hard card confiscated. The No. 66 Ford of Chad Finchum failed inspection twice leading to engineer Austin Webb's ejection. The Garage 66 team also lost pit stall selection. ___ AP auto racing:
Fox Sports
2 days ago
- Automotive
- Fox Sports
Denny Hamlin races at Nashville hoping birth of his third child holds off
Associated Press LEBANON, Tenn. (AP) — Denny Hamlin chose to race Sunday night in the NASCAR Cup Series at Nashville Superspeedway to try to take advantage of his starting spot spot beside pole-sitter Chase Briscoe. Whether Hamlin would chase his third win this season had been in question with his third child, a boy, due Sunday. Hamlin said Saturday he didn't have a timeline for a final decision. His biggest challenge is needing an eight-hour window to travel home. He came into this race as the BetMGM Sportsbook's odds' on favorite to win. He's currently sixth in the points race for Joe Gibbs Racing. He practiced and qualified well, so Hamlin crawled inside his No. 11 Toyota. Joe Gibbs Racing had Ryan Truex on standby in case Hamlin got the call that his fiancee was in labor. Tyler Reddick beat Hamlin, a co-owner of his 23XI Racing team, to new parent status. Reddick announced on social media earlier Sunday that his family welcomed their second son at 2:20 a.m. on May 25. Reddick followed up that delivery by racing and finished 26th that night in the Coca-Cola 600 at Charlotte. Punishment and more penalties possible? AJ Allmendinger started at the back of the field and also had to perform a stop-and-go penalty after the green flag for an unapproved adjustment to the splitter during Saturday's practice. His No. 16 Chevrolet was sent back to the garage and then the scanning station before practice and qualifying. Allmendinger also lost pit stall selection, and his crew chief Jaron Antley was ejected for the rest of this weekend with his hard card confiscated. The No. 66 Ford of Chad Finchum failed inspection twice leading to engineer Austin Webb's ejection. The Garage 66 team also lost pit stall selection. ___ AP auto racing: recommended
Yahoo
3 days ago
- General
- Yahoo
Andres Ambühl, Denis Malgin, Kevin Fiala, Janis Moser After Another Swiss Silver Medal
Briscoe edges Hamlin for Cup pole at Nashville Chase Briscoe puts the No. 19 on pole for the second week in a row, and at a track like Nashville where track position is "the name of the game," he hopes to turn it into a complete day on Sunday. 0:56 Now Playing Paused Ad Playing
NBC Sports
3 days ago
- Automotive
- NBC Sports
Denny Hamlin on baby watch, could miss Sunday's Cup race at Nashville
LEBANON, Tenn. — Denny Hamlin says he will skip the Cup race at Nashville Superspeedway if fiancee Jordan Fish goes into labor Sunday. Fish is due to deliver the couple's third child Sunday. 'I can't miss it,' Hamlin said Saturday. 'I certainly got to be there for her and that's obviously the biggest priority. I just wish she would hang on a little bit longer.' Sunday is set to Hamlin's 700th career Cup start. He would be only the 22nd driver in series history to reach that mark. Joe Gibbs Racing reserve driver Ryan Truex is in Nashville and would drive for Hamlin if needed. NASCAR would be expected to give Hamlin a playoff waiver if he misses the race for the birth of his child. Hamlin was scheduled to do a tire test Tuesday and Wednesday at Iowa Speedway. He will skip that. Teammate Chase Briscoe will drive the No. 11 car at the test. Hamlin has two wins this season and ranks sixth in the standings heading into Sunday's race.
Yahoo
4 days ago
- Business
- Yahoo
POSaBIT Reports First Quarter 2025 Financial Results
Q1 Adjusted Gross Profit increase year over year of 9.4%Q1 Adjusted EBITDA increase year over year of 93.5%Continued strong growth in Q1 with Point of Sale and eCommerce growing 16% TORONTO & SEATTLE, May 30, 2025--(BUSINESS WIRE)--POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the "Company" or "POSaBIT"), a leading provider of payments infrastructure in the cannabis industry, today announced its financial results for the three months ended March 31, 2025. "As highlighted during our recent annual earnings call, POSaBIT delivered another steady quarter, with consistent adjusted gross margin dollars and flat adjusted EBITDA as compared to the previous quarter — reinforcing the Company's long-term financial stability," said Ryan Hamlin, co-founder and CEO of POSaBIT. "We remain committed to operating efficiently while continuing to innovate, and we're seeing strong growth across our expanding product portfolio." Hamlin added, "Our Point of Sale system continues to lead the industry, and Q1 marked our busiest quarter ever for POS sales and implementations. We also saw stronger-than-expected demand for our newer eCommerce and Menu products, with momentum expected to continue into Q2. While overall revenue was down slightly due to our ongoing payment processing migration, our adjusted gross profit margin of 65% was the highest in the company's 10-year history. We're encouraged by the progress we've made. We have executed our cost reduction plans, remain profitable and cash flow positive, and have a focused leadership team driving toward a bright future." Recent Operational Highlights The Point of Sale product continues to experience significant growth, particularly in Washington State, driven by its dependable recurring revenue model Adjusted Revenue, Adjusted Gross Profit, and Adjusted EBITDA remained steady quarter over quarter, with this consistency expected to continue through 2025 The Company finalized the settlement of its last outstanding legal matter, paving the way for reduced legal expenses for the remainder of 2025. The Company completed migration of several cost generating activities to our payments partner resulting in additional costs savings in 2025 and beyond Balance Sheet As of March 31, 2025, the Company had cash and cash equivalents of $736 thousand compared to $999 thousand as of December 31, 2024. This slight reduction in cash is due to paying off existing legal settlement obligations as well as annual non-executive level salary adjustments. Financial Results NM - Not Meaningful in US Dollars Summary of Quarterly Results 1st Quarter 2025 4th Quarter 2024 3rd Quarter 2024 2nd Quarter 2024 1st Quarter 2024 Revenues $ 2,842,703 $ 3,150,199 $ 4,082,537 $ 4,264,005 $ 3,777,105 Gross margin $ 1,515,553 $ 1,692,227 $ 1,631,891 $ 2,190,607 $ 1,489,804 Total operating expenses $ (2,641,559 ) $ (2,549,792 ) $ (3,374,492 ) $ (2,829,634 ) $ (3,421,903 ) Other (expenses) income $ 1,990 $ (392,987 ) $ (341,341 ) $ 185,066 $ (8,045 ) Net earnings (loss) prior to income taxes $ (1,124,016 ) $ (1,250,552 ) $ (2,083,942 ) $ (453,961 ) $ (1,940,144 ) Net earnings (loss) $ (1,121,030 ) $ (1,238,312 ) $ (2,083,942 ) $ (453,961 ) $ (1,940,144 ) The following table reconciles Revenue, as reported to Adjusted Revenue for March 31, 2025 vs. March 31, 2024 as reported. in US Dollars March 31, 2025 March 31, 2024 Revenue as reported $ 2,842,703 $ 3,704,713 Add: Cash receipts from licensing contracts $ 1,350,000 $ 1,162,500 Deduct: Licensing support revenue $ (386,250 ) $ (386,250 ) Adjusted Revenue $ 3,806,453 $ 4,480,963 The following table reconciles Gross Margin, as reported to Adjusted Gross Profit for March 31, 2025 vs. March 31, 2024 as reported. in US Dollars March 31, 2025 March 31, 2024 Gross Margin as reported $ 1,515,553 $ 1,489,804 Add: Cash Receipts from Licensing contracts $ 1,350,000 $ 1,162,500 Deduct: Licensing Support Revenue as reported $ (386,250 ) $ (386,250 ) Adjusted Gross Profit $ 2,479,303 $ 2,266,054 Adjusted Gross Profit Margin 65 % 51 % The following table reconciles Loss, as reported to Adjusted EBITDA for March 31, 2025 vs. March 31, 2024 as reported. in US Dollars March 31, 2025 March 31, 2024 EBITDA $ (833,301 ) $ (1,207,238 ) Deduct: Licensing support revenue, as reported $ (386,250 ) $ (386,250 ) Deduct: Licensing revenue interest income, as reported $ (174,416 ) $ (249,272 ) Add: Cash receipts from licensing agreement, as reported $ 1,350,000 $ 1,162,500 Adjusted EBITDA $ (43,967 ) $ (680,260 ) Conference Call InformationDate: May 30, 2025Time: 4:30 PM Eastern TimeToll Free: 888-506-0062International: 973-528-0011Participant Access Code: 181006Webcast URL: Conference Call Replay Information:The replay will be available approximately 1 hour after the completion of the live event. Toll Free: 877-481-4010International: 919-882-2331Replay Passcode: 52562Webcast Replay URL: Financial Reports Full details of the financial and operating results are described in the Company's consolidated financial statements for the three months ended March 31, 2025 with accompanying notes. The consolidated financial statements and additional information about POSaBIT are available on the Company's website at or on SEDAR+ at Non-IFRS Measures Adjusted Revenue, Adjusted Gross Profit (and Adjusted Gross Profit Margin) and Adjusted EBITDA are non-IFRS measures used by management that do not have any prescribed meaning by IFRS and may not be comparable to similar measures presented by other companies. The Company defines Adjusted Revenue as gross revenue, minus license support revenue, plus actual licensing cash received as part of POSaBIT's licensing deals. The Company defines Adjusted Gross Profit as Adjusted Revenue less company cost of goods sold, and Adjusted Gross Profit Margin as a percentage of Adjusted Gross Profit as compared to Adjusted Revenue. The Company defines Adjusted EBITDA as net income or loss generated for the period as reported, before interest, taxes, depreciation and amortization and further adjusted in accordance with the reconciliation table set out in this press release. The Company believes these non-IFRS measures are useful metrics to evaluate its core operating performance and uses these measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. We caution readers that Adjusted Revenue, Adjusted Gross Profit (and Adjusted Gross Profit Margin) and Adjusted EBITDA are not substitutes for gross revenue, gross profit or profit/loss, respectively. Forward-Looking Statements This press release contains forward-looking statements, including statements regarding our business strategy, product development, timing of product development, events and courses of action. Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including words or phrases such as "anticipate," "objective," "may," "will," "might," "should," "could," "can," "intend," "expect," "believe," "estimate," "predict," "potential," "plan," "is designed to" or similar expressions suggesting future outcomes or the negative thereof or similar variations. Forward-looking statements may include, among other things, statements about: our expectations regarding annual cost reductions; our expectations regarding Adjusted Revenue, Adjusted Gross Profit, and Adjusted EBITDA over 2025; our future customer concentration; our anticipated cash needs and our estimates regarding our capital requirements; our ability to anticipate the future needs of our customers; our plans for future products and enhancements of existing products; our future growth strategy and growth rate; our future intellectual property; and our anticipated trends and challenges in the markets in which we operate. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which POSaBIT will operate in the future, including the demand for our products, anticipated costs and ability to achieve goals. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to, business, economic and capital market conditions; the ability to manage our operating expenses, which may adversely affect our financial condition; our ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; market conditions and the demand and pricing for our products; our relationships with our customers, distributors and business partners; our ability to successfully define, design and release new products in a timely manner that meet our customers' needs; our ability to attract, retain and motivate qualified personnel; competition in our industry; our ability to maintain technological leadership; our ability to manage risks inherent in foreign operations; the impact of technology changes on our products and industry; our failure to develop new and innovative products; our ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect our business; our ability to manage working capital; and our dependence on key personnel. POSaBIT is an early-stage company; it may not achieve profitability; and it may not actually achieve its plans, projections, or expectations. Important factors that could cause actual results to differ materially from POSaBIT's expectations include consumer sentiment towards POSaBIT's products, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, technology failures, competition, and failure of counterparties to perform their contractual obligations. Neither we nor any of our representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this news release. Neither we nor any of our representatives shall have any liability whatsoever, under contract, tort, trust or otherwise resulting from the use of the information in this news release or for omissions from the information in this news release. ABOUT POSABIT POSaBIT (CSE: PBIT, OTC: POSAF) is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and are the leading cashless payment provider for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring cutting-edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry. For additional information, visit Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release. View source version on Contacts Investor Relations: investors@ Media Relations: Oscar Dahl855-767-2248hello@ Management: Ryan HamlinCo-founder and CEO of POSaBIT855-767-2248investors@
