Latest news with #LastMile
Yahoo
07-08-2025
- Business
- Yahoo
RXO Announces Second-Quarter Results
Brokerage volume growth of 1% year over year driven by less-than-truckload volume growth of 45% Beginning to realize benefits from unified carrier coverage operations; Brokerage gross margin of 14.4% in the quarter Last Mile achieved 17% year-over-year stop growth, the fourth consecutive quarter of double-digit growth Strong quarterly cash performance with cash balance increasing sequentially CHARLOTTE, N.C., August 07, 2025--(BUSINESS WIRE)--RXO (NYSE: RXO) today reported its second-quarter financial results. RXO Chairman and CEO Drew Wilkerson said, "RXO executed well in the second quarter despite the prolonged soft freight market. Our Brokerage business outperformed the market, growing volume by 1% year-over-year driven by 45% growth in less-than-truckload volume. We're seeing early benefits from our newly combined carrier and coverage operations, and we delivered Brokerage gross margin of 14.4% in the quarter. Last Mile continued its impressive run of year-over-year growth, achieving 17% stop growth, the fourth consecutive quarter of double-digit growth. Our cash performance in the quarter was strong, and we increased our cash balance sequentially from the first quarter." Wilkerson continued, "The actions we're taking now are yielding results in the short term and positioning us well for the long term. We're focused on growing profitably, and we're realizing the benefits of our increased scale. That scale, combined with our cutting-edge technology, is driving productivity improvements. RXO is uniquely positioned to deliver increased earnings power and free cash flow over the long term and across market cycles." Companywide Results RXO's revenue was $1.4 billion for the second quarter, compared to $930 million in the second quarter of 2024. Gross margin was 17.8%, compared to 19.0% in the second quarter of 2024. The company reported a second-quarter 2025 GAAP net loss of $9 million, compared to a net loss of $7 million in the second quarter of 2024. The second-quarter 2025 GAAP net loss included $10 million in transaction, integration, restructuring and other costs. Adjusted net income in the quarter was $7 million, compared to adjusted net income of $4 million in the second quarter of 2024. Adjusted EBITDA was $38 million, compared to $28 million in the second quarter of 2024. Adjusted EBITDA margin was 2.7%, compared to 3.0% in the second quarter of 2024. Transaction, integration, restructuring and other costs, and amortization of intangibles, impacted GAAP earnings per share by $0.09, net of tax. For the second quarter, RXO reported a GAAP diluted loss per share of $0.05. Adjusted diluted earnings per share was $0.04. Brokerage Volume in RXO's Brokerage business, including the impact of the Coyote Logistics acquisition in both periods, increased by 1% year over year in the second quarter. Less-than-truckload volume increased by 45% but was partially offset by a 12% decline in full truckload volume. Brokerage gross margin was 14.4% in the second quarter. Complementary Services Managed Transportation again increased the synergy loads provided to Brokerage. Last Mile stops grew by 17% year-over-year. RXO's complementary services gross margin was 22.8% for the quarter. Third-Quarter Outlook RXO expects third-quarter 2025 adjusted EBITDA to be between $33 million and $43 million. In Brokerage, the company expects overall volume growth to be approximately flat year-over-year and gross margin to be between 13.5% and 15.0% in the third quarter. Conference Call The company will hold a conference call and webcast on Thursday, August 7 at 8 a.m. Eastern Daylight Time. Participants can call in toll-free (from U.S./Canada) at 1-800-549-8228; international callers dial +1-289-819-1520. The conference ID is 82712. A live webcast of the conference call will be available on the investor relations area of the company's website, A replay of the conference call will be available through August 13, 2025, by calling toll-free (from U.S./Canada) 1-888-660-6264; international callers dial +1-289-819-1325. Use the passcode 82712#. Additionally, the call will be archived on About RXO RXO (NYSE: RXO) is a leading provider of asset-light transportation solutions. RXO offers tech-enabled truck brokerage services together with complementary solutions including managed transportation and last mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. The company is headquartered in Charlotte, N.C. Visit for more information and connect with RXO on Facebook, X, LinkedIn, Instagram and YouTube. Non-GAAP Financial Measures We provide reconciliations of the non-GAAP financial measures contained in this release to the most directly comparable measure under GAAP, which are set forth in the financial tables attached to this release. The non-GAAP financial measures in this release include: adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"); adjusted EBITDA margin; and adjusted net income (loss) and adjusted diluted income (loss) per share ("adjusted EPS"). We believe that these adjusted financial measures facilitate analysis of our ongoing business operations because they exclude items that may not reflect, or are unrelated to, RXO's core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should only be used as supplemental measures of our operating performance. Adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss) and adjusted EPS include adjustments for transaction and integration costs, as well as restructuring costs and other adjustments as set forth in the attached tables. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating RXO's ongoing performance. We believe that adjusted EBITDA and adjusted EBITDA margin improve comparability from period to period by removing the impact of our capital structure (interest and financing expenses), asset base (depreciation and amortization), tax impacts and other adjustments that management has determined do not reflect our core operating activities and thereby assist investors with assessing trends in our underlying business. We believe that adjusted net income (loss) and adjusted EPS improve the comparability of our operating results from period to period by removing the impact of certain costs that management has determined do not reflect our core operating activities, including amortization of acquisition-related intangible assets, transaction and integration costs, restructuring costs and other adjustments as set out in the attached tables, and thereby may assist investors with comparisons to prior periods and assessing trends in our underlying business. With respect to our financial outlook for the third quarter of 2025 adjusted EBITDA, a reconciliation of this non-GAAP measure to the corresponding GAAP measure is not available without unreasonable effort due to the variability and complexity of the reconciling items described above that we exclude from this non-GAAP measure. The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare the forward-looking statement of income and statement of cash flows prepared in accordance with GAAP that would be required to produce such a reconciliation. Forward-looking Statements This release includes forward-looking statements, including statements relating to our outlook, integration with Coyote Logistics and cash synergies. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "predict," "should," "will," "expect," "project," "forecast," "goal," "outlook," "target," or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC and the following: the effect of the completion of the transaction to acquire Coyote Logistics on the parties' business relationships and business generally; competition and pricing pressures; economic conditions generally; fluctuations in fuel prices; increased carrier prices; severe weather, natural disasters, terrorist attacks or similar incidents that cause material disruptions to our operations or the operations of the third-party carriers and independent contractors with which we contract; our dependence on third-party carriers and independent contractors; labor disputes or organizing efforts affecting our workforce and those of our third-party carriers; legal and regulatory challenges to the status of the third-party carriers with which we contract, and their delivery workers, as independent contractors, rather than employees; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; the impact of potential cyber-attacks and information technology or data security breaches; issues related to our intellectual property rights; our ability to access the capital markets and generate sufficient cash flow to satisfy our debt obligations; litigation that may adversely affect our business or reputation; increasingly stringent laws protecting the environment, including transitional risks relating to climate change, that impact our third-party carriers; governmental regulation and political conditions; our ability to attract and retain qualified personnel; our ability to successfully implement our cost and revenue initiatives and other strategies; our ability to successfully manage our growth; our reliance on certain large customers for a significant portion of our revenue; damage to our reputation through unfavorable publicity; our failure to meet performance levels required by our contracts with our customers; the inability to achieve the level of revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; a determination by the IRS that the distribution or certain related separation transactions should be treated as taxable transactions; and the impact of the separation on our businesses, operations and results. All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law. RXO, Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, shares in thousands, except per share amounts) 2025 2024 2025 2024 Revenue $ 1,419 $ 930 $ 2,852 $ 1,843 Cost of transportation and services (exclusive of depreciation and amortization) 1,118 700 2,271 1,399 Direct operating expense (exclusive of depreciation and amortization) 47 50 95 103 Sales, general and administrative expense 214 154 424 299 Depreciation and amortization expense 30 17 62 33 Transaction and integration costs 7 7 13 8 Restructuring costs 3 2 17 13 Operating income (loss) $ — $ — $ (30 ) $ (12 ) Other expense 2 — 2 1 Interest expense, net 8 8 17 16 Loss before income taxes $ (10 ) $ (8 ) $ (49 ) $ (29 ) Income tax benefit (1 ) (1 ) (9 ) (7 ) Net loss $ (9 ) $ (7 ) $ (40 ) $ (22 ) Loss per share Basic $ (0.05 ) $ (0.06 ) $ (0.24 ) $ (0.19 ) Diluted $ (0.05 ) $ (0.06 ) $ (0.24 ) $ (0.19 ) Weighted-average common shares outstanding Basic 168,525 117,579 168,275 117,398 Diluted 168,525 117,579 168,275 117,398 RXO, Inc. Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, (Dollars in millions, shares in thousands, except per share amounts) 2025 2024 ASSETS Current assets Cash and cash equivalents $ 18 $ 35 Accounts receivable, net of $16 and $13 in allowances, respectively 1,065 1,227 Other current assets 101 77 Total current assets 1,184 1,339 Long-term assets Property and equipment, net of $351 and $317 in accumulated depreciation, respectively 137 135 Operating lease assets 250 276 Goodwill 1,125 1,123 Identifiable intangible assets, net of $144 and $146 in accumulated amortization, respectively 474 499 Other long-term assets 31 42 Total long-term assets 2,017 2,075 Total assets $ 3,201 $ 3,414 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 461 $ 568 Accrued expenses 315 373 Short-term debt and current maturities of long-term debt 16 17 Short-term operating lease liabilities 75 81 Other current liabilities 13 26 Total current liabilities 880 1,065 Long-term liabilities Long-term debt and obligations under finance leases 387 351 Deferred tax liabilities 75 88 Long-term operating lease liabilities 201 215 Other long-term liabilities 70 83 Total long-term liabilities 733 737 Commitments and Contingencies Equity Preferred stock, $0.01 par value; 10,000 shares authorized; 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024 — — Common stock, $0.01 par value; 300,000 shares authorized; 163,970 and 162,517 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2 2 Additional paid-in capital 1,915 1,904 Accumulated deficit (324 ) (284 ) Accumulated other comprehensive loss (5 ) (10 ) Total equity 1,588 1,612 Total liabilities and equity $ 3,201 $ 3,414 RXO, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, (In millions) 2025 2024 Operating activities Net loss $ (40 ) $ (22 ) Adjustments to reconcile net loss to net cash from operating activities Depreciation and amortization expense 62 33 Stock compensation expense 14 11 Deferred tax benefit (13 ) (9 ) Impairment of operating lease assets 4 — Other 6 2 Changes in assets and liabilities Accounts receivable 159 13 Other current assets and other long-term assets (7 ) 1 Accounts payable (93 ) (27 ) Accrued expenses, other current liabilities and other long-term liabilities (71 ) — Net cash provided by operating activities 21 2 Investing activities Payment for purchases of property and equipment (29 ) (22 ) Proceeds from sale of property and equipment 1 — Business acquisition, net of cash acquired (10 ) — Other (5 ) — Net cash used in investing activities (43 ) (22 ) Financing activities Proceeds from borrowings on revolving credit facilities 261 119 Repayment of borrowings on revolving credit facilities (227 ) (92 ) Payment for equity issuance costs (1 ) — Payment for tax withholdings related to vesting of stock compensation awards (18 ) (3 ) Repayment of debt and finance leases (1 ) (1 ) Other (10 ) (1 ) Net cash provided by financing activities 4 22 Effect of exchange rates on cash, cash equivalents and restricted cash 2 — Net increase (decrease) in cash, cash equivalents and restricted cash (16 ) 2 Cash, cash equivalents, and restricted cash, beginning of period 35 5 Cash, cash equivalents, and restricted cash, end of period $ 19 $ 7 Supplemental disclosure of cash flow information: Leased assets obtained in exchange for new operating lease liabilities $ 22 $ 49 Cash paid for income taxes, net 4 2 Cash paid for interest, net 16 15 Purchases of property and equipment in accounts payable, accrued expenses and other liabilities 10 1 Accrued tax withholdings related to vesting of stock compensation awards — 1 RXO, Inc. Revenue Disaggregated by Service Offering (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In millions) 2025 2024 2025 2024 Revenue Truck brokerage $ 1,025 $ 543 $ 2,092 $ 1,107 Last mile 315 265 593 497 Managed transportation 142 156 279 308 Eliminations (63 ) (34 ) (112 ) (69 ) Total $ 1,419 $ 930 $ 2,852 $ 1,843 RXO, Inc. Reconciliation of Net Loss to Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In millions) 2025 2024 2025 2024 Reconciliation of Net Loss to Adjusted EBITDA Net loss $ (9 ) $ (7 ) $ (40 ) $ (22 ) Interest expense, net 8 8 17 16 Income tax benefit (1 ) (1 ) (9 ) (7 ) Depreciation and amortization expense 30 17 62 33 Transaction and integration costs 7 7 13 8 Restructuring and other costs 3 4 17 15 Adjusted EBITDA (1) $ 38 $ 28 $ 60 $ 43 Revenue $ 1,419 $ 930 $ 2,852 $ 1,843 Adjusted EBITDA margin (1) (2) 2.7 % 3.0 % 2.1 % 2.3 % (1) See the "Non-GAAP Financial Measures" section of the press release. (2) Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue. RXO, Inc. Reconciliation of Net Loss to Adjusted Net Income (Loss) and Adjusted Diluted Income (Loss) Per Share (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, shares in thousands, except per share amounts) 2025 2024 2025 2024 Reconciliation of Net Loss to Adjusted Net Income (Loss) and Adjusted Diluted Income (Loss) Per Share Net loss $ (9 ) $ (7 ) $ (40 ) $ (22 ) Amortization of intangible assets 11 3 26 6 Transaction and integration costs 7 7 13 8 Restructuring and other costs 3 4 17 15 Income tax associated with adjustments above (1) (5 ) (3 ) (14 ) (7 ) Adjusted net income (loss) (2) $ 7 $ 4 $ 2 $ — Adjusted diluted income (loss) per share (2) $ 0.04 $ 0.03 $ 0.01 $ — Weighted-average shares outstanding Diluted 169,077 119,837 169,143 117,398 (1) The tax impact of non-GAAP adjustments represents the tax benefit (expense) calculated using the applicable statutory tax rate that would have been incurred had these adjustments been excluded from net loss. Our estimated tax rate on non-GAAP adjustments may differ from our GAAP tax rate due to differences in the methodologies applied. (2) See the "Non-GAAP Financial Measures" section of the press release. RXO, Inc. Calculation of Gross Margin and Gross Margin as a Percentage of Revenue (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2025 2024 2025 2024 Revenue Truck brokerage $ 1,025 $ 543 $ 2,092 $ 1,107 Complementary services (1) 457 421 872 805 Eliminations (63 ) (34 ) (112 ) (69 ) Revenue $ 1,419 $ 930 $ 2,852 $ 1,843 Cost of transportation and services (exclusive of depreciation and amortization) Truck brokerage $ 877 $ 462 $ 1,801 $ 946 Complementary services (1) 304 272 582 522 Eliminations (63 ) (34 ) (112 ) (69 ) Cost of transportation and services (exclusive of depreciation and amortization) $ 1,118 $ 700 $ 2,271 $ 1,399 Direct operating expense (exclusive of depreciation and amortization) Truck brokerage $ — $ — $ 1 $ — Complementary services (1) 47 50 94 103 Direct operating expense (exclusive of depreciation and amortization) $ 47 $ 50 $ 95 $ 103 Direct depreciation and amortization expense Truck brokerage $ — $ 1 $ — $ 1 Complementary services (1) 2 2 5 4 Direct depreciation and amortization expense $ 2 $ 3 $ 5 $ 5 Gross margin Truck brokerage $ 148 $ 80 $ 290 $ 160 Complementary services (1) 104 97 191 176 Gross margin $ 252 $ 177 $ 481 $ 336 Gross margin as a percentage of revenue Truck brokerage 14.4 % 14.7 % 13.9 % 14.5 % Complementary services (1) 22.8 % 23.0 % 21.9 % 21.9 % Gross margin as a percentage of revenue 17.8 % 19.0 % 16.9 % 18.2 % (1) Complementary services include last mile and managed transportation services. 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Cision Canada
14-07-2025
- Business
- Cision Canada
Arrive AI selects Synoptek as a Strategic IT Partner
COSTA MESA, Calif. and INDIANAPOLIS, July 14, 2025 /CNW/ -- Arrive AI (NASDAQ: ARAI) — a pioneering autonomous delivery network anchored by Arrive Points™ — has selected Synoptek as a strategic IT partner to enable its rapid growth and global ambitions. Synoptek will provide Arrive AI with all the IT solutions it needs to support its business. With a recent $40 million injection of funding from Streeterville Capital, Arrive AI is entering a critical growth phase. The company is preparing to launch its patented, autonomous delivery platform later this summer and expects to double its staff size. "Synoptek's strategic approach, deep expertise, robust tech stack and strong partnerships with Microsoft and ServiceNow made it a clear choice," said Mark Hamm, COO of Arrive AI. "We were searching for a partner who could move at our pace and help us build a resilient IT foundation. After conducting an exhaustive search, we knew Synoptek would be the partner we were looking for to provide all of the IT capabilities we need to take our business to the next level." Under the three-year agreement, Synoptek will contribute to the solution definition, implementation and IT management, including, cybersecurity, enterprise-grade IT and 24/7 AI-enabled managed services operations. This engagement deepens Synoptek's presence in the high-growth logistics and manufacturing sector and aligns with its mission to deliver smart, secure and connected IT environments. "We're proud to serve as an extension of the Arrive AI team," said Salil Godika, CEO at Synoptek. "Together, we are building a resilient and secure IT backbone that supports innovation and scale. We deliver focused solutions that incorporate exceptional customer experiences, digital application engineering, and agile infrastructure. We are committed to providing Arrive AI with the technology foundation it needs to grow with confidence." Synoptek will provide advisory services and information sharing around security, AI and application innovation as Arrive AI continues to push boundaries in the AI transportation and logistics space. About Arrive AI Arrive AI's patented Autonomous Last Mile (ALM) platform enables secure, efficient delivery to and from a smart, AI-powered mailbox, whether by drone, ground robot or human courier. The platform provides real-time tracking, smart logistics alerts and advanced chain of custody controls to support shippers, delivery services and autonomous networks. By combining artificial intelligence with autonomous technology, Arrive AI makes the exchange of goods between people, robots and drones frictionless and convenient. Its system integrates with smart home devices such as doorbells, lighting and security systems to streamline the entire last-mile delivery experience. Learn more at About Synoptek Synoptek is a global, full-service business and digital technology solutions provider and advisory firm that helps companies envision, transform, and evolve their customer experiences, application ecosystems, and infrastructures. As a systems integrator and managed technology provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their businesses. With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps companies optimize their IT environments and enable innovation through technology. With growth, ownership, inclusiveness, and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders. Cautionary Note Regarding Forward Looking Statements This news release and statements of Arrive AI's management in connection with this news release or related events contain or may contain "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. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "potential", "will", "should", "could", "would", "optimistic" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI's Registration Statement for more complete information, including the risk factors that may affect future results, which are available for review at Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
Miami Herald
10-07-2025
- Business
- Miami Herald
Arrive AI selects Synoptek as a Strategic IT Partner to Power Global Expansion
INDIANAPOLIS, IN AND COSTA MESA, CA / ACCESS Newswire / July 10, 2025 / Arrive AI (NASDAQ:ARAI) - a pioneering autonomous delivery network anchored by Arrive Points™ - has selected Synoptek as a strategic IT partner to enable its rapid growth and global ambitions. Synoptek will provide Arrive AI with all the IT solutions it needs to support its business. With a recent injection of up to $40 million in funding from Streeterville Capital, Arrive AI is entering a critical growth phase. The company is preparing to launch its patented, autonomous delivery platform later this summer and expects to triple its staff size. "Synoptek's strategic approach, deep expertise, robust tech stack and strong partnerships with Microsoft and ServiceNow made it a clear choice," said Mark Hamm, COO of Arrive AI. "We were searching for a partner who could move at our pace and help us build a resilient IT foundation for global expansion. After conducting an exhaustive search, we knew Synoptek would be the partner we were looking for to provide all of IT capabilities we need to take our business to the next level" Under the three-year agreement, Synoptek will contribute to the solution definition, implementation and IT management, including, cybersecurity, enterprise-grade IT and 24/7 AI-enabled managed services operations. This engagement deepens Synoptek's presence in the high-growth logistics and manufacturing sector and aligns with its mission to deliver smart, secure and connected IT environments. "We're proud to serve as an extension of the Arrive AI team," said Salil Godika, CEO at Synoptek. "Together, we are building a resilient and secure IT backbone that supports innovation and scale. We deliver focused solutions that incorporate exceptional customer experiences, digital application engineering, and agile infrastructure. We are committed to providing Arrive AI with the technology foundation it needs to grow with confidence." Synoptek will provide advisory services and information sharing around security, AI and application innovation as Arrive AI continues to push boundaries in the AI transportation and logistics space. -30- About Arrive AI: Arrive AI's patented Autonomous Last Mile (ALM) platform enables secure, efficient delivery to and from a smart, AI-powered mailbox, whether by drone, ground robot or human courier. The platform provides real-time tracking, smart logistics alerts and advanced chain of custody controls to support shippers, delivery services and autonomous networks. By combining artificial intelligence with autonomous technology, Arrive AI makes the exchange of goods between people, robots and drones frictionless and convenient. Its system integrates with smart home devices such as doorbells, lighting and security systems to streamline the entire last-mile delivery experience. Learn more at Media contact: Cheryl Reed at media@ Investor Relations Contact: Alliance Advisors IR at About Synoptek: Synoptek is a global, full-service business and digital technology solutions provider and advisory firm that helps companies envision, transform, and evolve their customer experiences, application ecosystems, and infrastructures. As a systems integrator and managed technology provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their businesses. With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps companies optimize their IT environments and enable innovation through technology. With growth, ownership, inclusiveness, and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders. Cautionary Note Regarding Forward Looking Statements This news release and statements of Arrive AI's management in connection with this news release or related events contain or may contain "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. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "potential", "will", "should", "could", "would", "optimistic" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI's Registration Statement for more complete information, including the risk factors that may affect future results, which are available for review at Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law. SOURCE: Arrive AI Inc.
Yahoo
24-04-2025
- Business
- Yahoo
The Shyft Group: Q1 Earnings Snapshot
NOVI, Mich. (AP) — NOVI, Mich. (AP) — The Shyft Group, Inc. (SHYF) on Thursday reported a loss of $1.4 million in its first quarter. The Novi, Michigan-based company said it had a loss of 4 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 7 cents per share. The maker of chassis for Last Mile Delivery, RVs and other vehicles posted revenue of $204.6 million in the period. The Shyft Group expects full-year earnings in the range of 69 cents to 92 cents per share, with revenue in the range of $870 million to $970 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SHYF at
Business Wire
23-04-2025
- Business
- Business Wire
Last Mile Production, LLC Achieves 300% Production Growth and 70% Emissions Reduction with Enovate AI
HOUSTON--(BUSINESS WIRE)-- Last Mile Production, LLC, a forward-thinking independent oil and gas operator in West Texas, has reported transformative results following the deployment of Enovate AI's 3-Clicks Digital Strategy in collaboration with B4ECarbon™, the emissions management platform developed by Blockchain for Energy. The pilot initiative led to a 300% increase in oil production and a 70% reduction in emissions, while also enabling the issuance and capitalization of high-integrity carbon credits —all achieved beyond the thresholds of domestic and international compliance standards. At the heart of this success is Enovate AI's 3-Clicks Digital Strategy, a next-generation framework that combines automation, optimization, and decarbonization. By integrating cutting-edge technologies including AI, IoT, and blockchain, Last Mile has redefined how production and emissions data are captured, analyzed, and acted upon. The result: real-time operational insights, AI-driven leak detection, predictive asset management, and agile resource deployment. 'With the 3-Clicks strategy, we're not only optimizing production—we're maximizing asset value through tech-driven retirement planning, asset performance optimization, and monetizing environmental performance,' said Zach Wagner, Owner of Last Mile Production. Pushing beyond compliance, Last Mile implemented an advanced Leak Detection and Repair (LDAR) strategy aligned with the OGMP Level 5 Gold Standard. This replaced manual, periodic inspections with continuous sensor-based monitoring—providing enhanced leak detection, faster mitigation, and inclusion of previously unregulated assets. Using B4ECarbon™, these verifiable emissions reductions translate into market-ready carbon offsets. 'We're setting a new standard in energy—where performance, sustainability, and compliance go hand in hand. Last Mile demonstrates what's possible when AI, IoT, and blockchain converge: smarter operations, responsible practices, and measurable impact. This is the future of energy,' said Camilo Mejia, CEO of Enovate AI. 'At B4ECarbon, our priority is enabling energy operators to turn emissions data into strategic advantage. By delivering verifiable, blockchain-backed emissions intelligence, we help organizations like Last Mile move beyond compliance—toward operational excellence, market credibility, and environmental integrity. This is how the energy industry builds trust, unlocks new value, and drives real transformation,' said Rebecca Hofmann, CEO of B4ECarbon LLC. Last Mile's pioneering efforts are sparking momentum among other West Texas operators, many of whom are now adopting the 3-Clicks strategy. Drawn by the promise of measurable ROI, sustainable operations, and elevated asset valuation, they are joining a growing movement toward digital, data-driven energy transformation. About Last Mile Production, LLC Last Mile Production, LLC is a leading oil & gas operator in West Texas, committed to minimizing environmental impact through innovative practices. By integrating cutting-edge technologies, Last Mile optimizes resource management, reduces emissions, and plays an active role in the global energy transition. Last Mile Production About Enovate AI Enovate AI is an energy innovation company transforming how operators optimize performance and monetize sustainability. Its 3-Clicks Digital Strategy fuses automation, AI, IoT, and blockchain to deliver integrated solutions for asset optimization, emissions reduction, and responsible retirement planning. Enovate AI helps energy leaders accelerate digital transformation with measurable results. About B4ECarbon B4ECarbon™, a solution developed by Blockchain for Energy, delivers advanced emissions management for the global energy industry. By integrating blockchain, AI, and IoT, B4ECarbon enables energy companies to generate verifiable emissions data, exceed compliance, and create trusted, high-integrity carbon offsets. The platform empowers users to meet today's sustainability demands while unlocking new environmental and economic value. B4ECarbon - Blockchain For Energy
