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Advocacy groups are urging Cambridge city leaders to take bold action to stop the affordable housing crisis from worsening. “Cambridge is struggling to house its most vulnerable residents, with far too few supportive housing units to meet growing demand,” said Brian Paul, a Cambridge resident and executive director of Supportive Housing of Waterloo (SHOW). “The math is not adding up for Cambridge,” he said. “There’s more need, and there’s not enough units. We’re not in a good place right now.” Cambridge has fewer than 25 supportive housing units across Preston, Hespeler, and Galt combined, which Paul said is far below the needs of the population. In contrast, SHOW operates 64 units in Waterloo alone, offering a model Cambridge desperately needs to follow, he added. Alongside Paul, local advocates from Citizens for Cambridge have joined the call for action. The group sent a letter to city officials on Nov. 13 urging them to prioritize the construction of affordable housing. Attempts to get a comment from the city about the letter have gone unanswered. “We’ve been raising the alarm about this issue for a long time,” said Dan Clements, a representative of Citizens for Cambridge. “It’s time for the city to listen to its residents and make housing a top priority.” The letter also points to rising rents and long waiting lists for subsidized housing as key issues facing residents. “People are struggling to find housing that they can afford. It’s a crisis,” Clements said. “Families are being forced into difficult living situations, and that needs to change.” The local organization agrees that the city must take immediate steps to address the problem. “We need more affordable units, and we need them now,” Clements said. “The longer we wait, the harder it will be for people to secure stable housing.” Paul highlighted the growing number of people on the streets. “There’s a lack of affordable housing options and an incredible lack of supportive housing. It’s not just about putting people in homes — it’s about helping them recover.” Supportive housing provides affordable rents — around $700 per month — alongside round-the-clock on-site staff to help residents with addiction recovery, mental health support, and life skills. “These services can mean the difference between life and death for some people,” Paul said. The problem is compounded by recent closures of encampments in Cambridge. For many, the loss of temporary shelter has left them with no clear options. “These individuals have nowhere to go,” Paul said. “They’re somebody’s kids, somebody’s siblings, somebody’s parents. We need to treat them with dignity and compassion.” The citizens’ letter also emphasizes the importance of a co-ordinated response, with local government, community groups, and businesses working together to find solutions. “It can’t just be one group solving this problem. It takes everyone,” Paul said. “We need a community-wide effort to create long-term solutions that meet the needs of people who are struggling.” But Paul worries about the lack of support for Indwell, a Christian charity group “who are actively trying to build supportive housing in Preston.” Indwell has purchased the old Grand River Hotel which has been prepared for construction of a 46-unit affordable housing project, which is now in the financing phase. “It’s frustrating to see that an organization with such an incredible reputation throughout the province has been stalled at this development,” he said. “Supportive housing is the answer — it’s a solution that works.” Beyond compassion, advocates argue that supportive housing also makes financial sense. Supportive housing “saves money for the health-care system, the justice system, and social services,” Paul said. “It’s the kind of investment that benefits everyone in the community.” For residents, he urged unity and continued advocacy. “There’s a way out of this. We just have to take action — and take it together.”
Rams finally ran the ball well in New Orleans, and it kept them in the playoff race
NEW YORK (AP) — Daniel Penny chose not to testify and defense lawyers rested their case Friday at his trial in the death of an agitated man he choked on a subway train. Closing arguments are expected after Thanksgiving in the closely watched manslaughter case about the death of Jordan Neely , 30. The encounter between Penny, a white Marine veteran, and Neely, a homeless Black man with mental health and drug problems, has been drawn into U.S. political divides over race, public safety and cities’ ability to handle mental illness and social ills. Penny, 26, has pleaded not guilty. Many criminal defendants don't take the stand, and juries are routinely instructed that they cannot hold defendants' silence — a constitutional right — against them. One of Penny’s lawyers, Daniel Kenniff, noted after court that jurors did hear from Penny, in the form of his recorded statements to police minutes and hours after he put Neely in a chokehold. “Virtually everything he said then is consistent with credible testimony of his fellow passengers," Kenniff said. Penny told police that he wrapped his arm around Neely's neck, took him to the floor and “put him out” because he was angrily throwing things and making threatening comments. Penny said on police video that he hadn't wanted to injure Neely but rather to keep him from hurting anyone else. A number of other passengers testified that they were scared of Neely and relieved that Penny grabbed hold of him. A man who later stepped in and held down Neely's arms, however, told jurors that he urged Penny to let go but that the veteran kept choking Neely for a time. Prosecutors say Penny meant to protect people but recklessly used too much force, overlooking Neely's humanity and making no effort to spare his life. City medical examiners ruled that the chokehold killed Neely. A pathologist hired by Penny's defense disputed that finding . Prosecutors, defense lawyers and the judge are set to meet Monday to hash out jury instructions. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!Maryland Sens. Ben Cardin and Chris Van Hollen, along with Sen.-elect Angela Alsobrooks, endorsed former Maryland Gov. and Baltimore Mayor Martin O’Malley for Democratic National Committee chair. The endorsement comes on the heels of O’Malley’s recent chairmanship bid and ahead of the expected DNC chair election early next year. “As Marylanders, we are proud to support and endorse former Governor Martin O’Malley for DNC Chair. His leadership plan centers around a 50-state strategy focused on jobs, opportunity, and economic security for all. There’s no question that Democrats stand on the side of hardworking Americans. We need a DNC chair like Governor O’Malley focused on making it clear to voters that Democrats will listen to Americans’ concerns and deliver real solutions for their families and our country,” the lawmakers said in a joint statement. O’Malley revealed his plan to step down from his current position as Social Security Administration commissioner last Monday, Nov. 18, in an interview with The New York Times. In a social media post, O’Malley thanked President Joe Biden for his opportunity to serve as the leader of the SSA and praised the agency. “It has been a great honor to serve alongside the people of the Social Security Administration, who have turned around this agency and put it on a better path forward. For the dignity of every individual, social security works,” O’Malley wrote on X. “Thank you, Mr. President, for the opportunity to have served so many Americans...with such a fine group of Americans. Stronger Together.” His bid for chairmanship comes at a chaotic time for the Democratic Party. On Sunday, Nov. 17, former White House Press Secretary Jen Psaki said Democrats are in the “wilderness” without a “clear leader” after President-elect Donald Trump defeated Vice President Kamala Harris. “We face enormous challenges and a lot of soul-searching,” O’Malley told The New York Times. “We need to focus on fixing the problem and not the blame.” O’Malley is expected to campaign on his experience as mayor, governor and one-time leader of the Democratic Governors Association to land the position as chair of the DNC. This is not the first time O’Malley has pursued the party’s leadership; he ran for DNC chair in 2016 but withdrew his candidacy early in the race. The current DNC chair, Jaime Harrison, is not expected to run for a second term. The former two-term governor is the first candidate to formally enter the race for DNC chair, though several state Democratic Party leaders have been rumored to want to join as well. The DNC chair election is expected to happen Feb. 1 at the party’s annual winter meeting in National Harbor, Maryland. Have a news tip. Contact Lori Rampani at lrampani@sbgtv.com .
Emboldened 'manosphere' accelerates threats and demeaning language toward women after US election
AI-generated deepfake videos are a rapidly growing security concern, with recent reports showing 75 percent of organisations have experienced at least one deepfake-related incident within the last 12 months. Digital PR Agency , which represents the types of sectors that might be affected, has provided some advice to Digital Journal on how to spot deepfake videos. Verify the source and context Fake news spread more rapidly than true news on X (previously Twitter), a concerning trend given that nearly 30 percent of Americans rely on social media as a regular news source. Always examine the credibility of the sources behind the content you consume. Is this information coming from a reputable news outlet or a verified official account? If the source is unfamiliar or looks dubious, cross-check the content’s authenticity using reliable news organisations or fact-checking platforms like Google Fact Check Tools. Misinformation often plays on emotional triggers like fear, anger, or outrage to cloud your judgement. When you encounter content that provokes strong emotions, pause and re-assess to ensure you are not being used as a pawn in someone’s game. Observe facial expressions and movements Deepfakes often falter when trying to replicate the intricate details of facial expressions and natural movements. Key areas to scrutinise include microexpressions around the eyes and mouth. Look out for unnatural blinking patterns, disjointed eye movements, or jerky head motions, and check whether the facial expressions align with the conveyed emotions. Details like the uniformity of teeth, hair texture, and facial structure can also reveal deepfakes. A key giveaway is the shape of the face and ears – deepfakes often have slightly off measurements in these areas, with ears being particularly difficult to replicate. Pausing the video and examining the facial features can help you spot these irregularities. Use reverse image and video search tools Leverage reverse image and video search tools to trace the origins of visual content. Uploading an image to Google Reverse Image Search can help identify if it’s AI-generated, manipulated, or being used out of context. For videos, tools like InVID can dissect footage and check for any modifications or previous appearances. These searches allow you to find other copies of the image online, helping you verify its authenticity and uncover potential misuses. Look for digital artefacts and inconsistencies Deepfakes often reveal themselves through subtle digital flaws like blurriness or unnatural pixelation, especially around the edges of faces or objects. Pay attention to inconsistencies in lighting, shadows, reflections, or even an extra finger, that might indicate manipulation. Check for audio-visual synchronisation Spotting a deepfake often comes down to watching the lips closely. Our mouths form specific shapes when pronouncing certain letters, and these movements are tricky for AI to replicate accurately – nearly a third of deepfake videos struggle to match sounds like M, B and P. Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news.Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.
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Need more neurologists, must leverage telemedicine to tackle stroke burden in India: Health MinistrySAN FRANCISCO--(BUSINESS WIRE)--Nov 26, 2024-- PagerDuty, Inc. (NYSE:PD), a leader in digital operations management, today announced financial results for the third quarter of fiscal 2025, ended October 31, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241126811639/en/ (Graphic: Business Wire) “PagerDuty delivered a solid quarter with revenue and non-GAAP operating income results well above third quarter guidance ranges with annual recurring revenue increasing to $483 million, growing 10% year-over-year,” said Chairperson and CEO, Jennifer Tejada. “Consistent performance over the past four quarters has led to stabilization across all business segments, and along with improving leading indicators, positions the business on a strong upward trajectory.” Third Quarter Fiscal 2025 Financial Highlights Revenue was $118.9 million, an increase of 9.4% year over year. Loss from operations was $10.3 million; operating margin was negative 8.7%. Non-GAAP operating income was $25.0 million; non-GAAP operating margin was 21.0%. Net loss per share attributable to PagerDuty, Inc. common stockholders was $0.07. Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders was $0.25. Net cash provided by operating activities was $22.1 million, with free cash flow of $19.4 million. Cash, cash equivalents, and investments were $542.2 million as of October 31, 2024. The section titled “Non-GAAP Financial Measures” below contains a description of the non-GAAP financial measures and reconciliations between GAAP and non-GAAP financial information. Third Quarter and Recent Highlights Customers with annual recurring revenue over $100 thousand grew 6% to 825 as of October 31, 2024, compared to 778 a year ago. Dollar-based net retention rate was 107% as of October 31, 2024, compared to 110% a year ago. Free and paid customers totaled more than 30,000 as of October 31, 2024, representing approximately 11% growth year over year. Total paid customers were 15,050 as of October 31, 2024, compared to 15,049 a year ago. Remaining performance obligations were $405 million as of October 31, 2024. Of this amount, the Company expects to recognize revenue of approximately $278 million, or 69%, over the next 12 months with the balance to be recognized as revenue thereafter. (1) Lands and expands include: Alphonso Inc,, CFP Energy Limited, Cloudflare, Infosys, NVIDIA Corporation, Waste Management Inc., and Zscaler. Announced Jennifer Tejada as guest speaker during the 2024 AWS re:Invent keynote. Introduced enterprise-grade, AI-powered innovations. Released Total Economic Impact Study revealing a 249% return on investment over three years using the PagerDuty Operations Cloud. Recognized as a Leader in 2024 GigaOm Radar for AIOps. Showcased PagerDuty customer - Anaplan. Recognized by Fortune's Best Workplaces as one of the top 25 companies for women in their small and medium designation. (1) Beginning in the first quarter of fiscal 2025, the Company began to include contracts with an original term of less than 12 months in this disclosure which comprised $116 million of remaining non-cancelable performance obligations as of October 31, 2024. Financial Outlook For the fourth quarter of fiscal 2025, PagerDuty currently expects: Total revenue of $118.5 million - $120.5 million, representing a growth rate of 7% - 8% year over year. Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.15 - $0.16 assuming approximately 93 million diluted shares and a non-GAAP tax rate of 23%. For the full fiscal year 2025, PagerDuty currently expects: Total revenue of $464.5 million - $466.5 million (compared to the previous guidance of $463.0 million - $467.0 million), representing a growth rate of 8% year over year. Non-GAAP net income per diluted share attributable to PagerDuty, Inc. common stockholders of $0.78 - $0.79 (up from $0.67 - $0.72) assuming approximately 95 million diluted shares and a non-GAAP tax rate of 23%. These statements are forward-looking and actual results may differ materially. Please refer to the section titled "Forward-Looking Statements" below for information on the factors that could cause our actual results to differ materially from these forward-looking statements. PagerDuty has not reconciled forward-looking net loss per share attributable to PagerDuty, Inc. common stock holders to forward-looking non-GAAP net income per share attributable to PagerDuty, Inc. common stockholders because certain items are out of PagerDuty's control or cannot be reasonably predicted. Accordingly, such reconciliation is not available without unreasonable effort. Conference Call Information PagerDuty will host a conference call and live webcast (Zoom meeting ID 975 4160 6140) for analysts and investors at 2:00 p.m. Pacific Time on November 26, 2024. For audio only, the dial-in number 1-312-626-6799 may be used. This news release with the financial results will be accessible from PagerDuty’s website at investor.pagerduty.com prior to the conference call. A live webcast of the conference call will be accessible from the PagerDuty investor relations website at investor.pagerduty.com . Supplemental Financial and Other Information Supplemental financial and other information can be accessed through PagerDuty’s investor relations website at investor.pagerduty.com . PagerDuty uses the investor relations section on its website as the means of complying with its disclosure obligations under Regulation FD. Accordingly, we recommend that investors monitor PagerDuty’s investor relations website in addition to following PagerDuty’s press releases, SEC filings, social media, including PagerDuty’s LinkedIn account ( https://www.linkedin.com/company/482819 ), X (formerly Twitter) account @pagerduty, the X account @jenntejada and Facebook page (facebook.com/pagerduty), and public conference calls and webcasts. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our future financial performance and outlook, and market positioning. Words such as “expect,” “extend,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “accelerate,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks and other factors detailed in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (SEC) on March 18, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024 and other filings and reports that we may file from time to time with the SEC. In particular, the following risks and uncertainties, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the effect of unfavorable conditions in our industry or the global economy, or reductions in information technology spending on our business and results of operations; our ability to achieve and maintain future profitability; our ability to attract new customers and retain and sell additional functionality and services to our existing customers; our ability to sustain and manage our growth; our dependence on revenue from a single product; our ability to compete effectively in an increasingly competitive market; and general global market, political, economic, and business conditions. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. About PagerDuty, Inc. PagerDuty, Inc. (NYSE:PD) is a global leader in digital operations management, enabling customers to achieve operational efficiency at scale with the PagerDuty Operations Cloud. The PagerDuty Operations Cloud combines AIOps, Automation, Customer Service Operations and Incident Management with a powerful generative AI assistant to create a flexible, resilient and scalable platform to increase innovation velocity, grow revenue, reduce cost, and mitigate the risk of operational failure. Half of the Fortune 500 and nearly 70% of the Fortune 100 rely on PagerDuty as essential infrastructure for the modern enterprise. To learn more and try PagerDuty for free, visit www.pagerduty.com . The PagerDuty Operations Cloud The PagerDuty Operations Cloud is the platform for mission-critical, time-critical operations work in the modern enterprise. Through the power of AI and automation, it detects and diagnoses disruptive events, mobilizes the right team members to respond, and streamlines infrastructure and workflows across your digital operations. The Operations Cloud is essential infrastructure for revolutionizing digital operations to compete and win as a modern digital business. PAGERDUTY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Cost of revenue (1) 20,268 19,705 59,691 57,474 Gross profit 98,678 89,015 286,362 262,108 Operating expenses: Research and development (1) 34,267 34,272 106,878 104,221 Sales and marketing (1) 49,272 49,630 148,737 143,155 General and administrative (1) 25,432 25,955 78,800 77,547 Total operating expenses 108,971 109,857 334,415 324,923 Loss from operations (10,293 ) (20,842 ) (48,053 ) (62,815 ) Interest income (2) 6,912 6,029 21,408 15,242 Interest expense (2,377 ) (1,454 ) (6,888 ) (4,184 ) Gain on partial extinguishment of convertible senior notes — 3,970 — 3,970 Other income (expense), net (2) 346 (834 ) 212 (960 ) Loss before (provision for) benefit from income taxes (5,412 ) (13,131 ) (33,321 ) (48,747 ) (Provision for) benefit from income taxes (715 ) 41 (1,335 ) 197 Net loss $ (6,127 ) $ (13,090 ) $ (34,656 ) $ (48,550 ) Net loss attributable to redeemable non-controlling interest (203 ) (324 ) (681 ) (1,513 ) Net loss attributable to PagerDuty, Inc. $ (5,924 ) $ (12,766 ) $ (33,975 ) $ (47,037 ) Less: Adjustment attributable to redeemable non-controlling interest 634 2,359 9,881 4,088 Net loss attributable to PagerDuty, Inc. common stockholders $ (6,558 ) $ (15,125 ) $ (43,856 ) $ (51,125 ) Weighted average shares used in calculating net loss per share, basic and diluted 91,438 93,104 92,530 92,257 Net loss per share, basic and diluted, attributable to PagerDuty, Inc. common stockholders $ (0.07 ) $ (0.16 ) $ (0.47 ) $ (0.55 ) (1) Includes stock-based compensation expense as follows: Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Cost of revenue $ 1,432 $ 1,820 $ 4,696 $ 5,860 Research and development 11,576 11,128 34,640 34,002 Sales and marketing 7,639 8,094 23,702 22,362 General and administrative 11,126 10,786 34,041 32,686 Total $ 31,773 $ 31,828 $ 97,079 $ 94,910 (2) Includes a reclassification for the three and nine months ended October 31, 2023 for a portion of other income to the interest income line item to conform to current period presentation. PAGERDUTY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 326,440 $ 363,011 Investments 215,722 208,178 Accounts receivable, net of allowance for credit losses of $803 and $1,382 as of October 31, 2024 and January 31, 2024, respectively 75,182 100,413 Deferred contract costs, current 19,632 19,502 Prepaid expenses and other current assets 17,157 12,094 Total current assets 654,133 703,198 Property and equipment, net 19,573 17,632 Deferred contract costs, non-current 24,167 25,118 Lease right-of-use assets 2,436 3,789 Goodwill 137,401 137,401 Intangible assets, net 23,698 32,616 Other assets 5,346 5,552 Total assets $ 866,754 $ 925,306 Liabilities, redeemable non-controlling interest, and stockholders’ equity Current liabilities: Accounts payable $ 7,116 $ 6,242 Accrued expenses and other current liabilities 15,801 15,472 Accrued compensation 34,474 30,239 Deferred revenue, current 214,058 223,522 Lease liabilities, current 3,550 6,180 Convertible senior notes, net, current 57,332 — Total current liabilities 332,331 281,655 Convertible senior notes, net, non-current 392,697 448,030 Deferred revenue, non-current 2,659 4,639 Lease liabilities, non-current 6,119 6,809 Other liabilities 4,859 5,280 Total liabilities 738,665 746,413 Redeemable non-controlling interest 16,493 7,293 Stockholders' equity Common stock — — Additional paid-in capital 699,633 774,768 Accumulated other comprehensive loss (502 ) (733 ) Accumulated deficit (586,410 ) (552,435 ) Treasury stock (1,125 ) (50,000 ) Total stockholders’ equity 111,596 171,600 Total liabilities, redeemable non-controlling interest, and stockholders' equity $ 866,754 $ 925,306 PAGERDUTY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Cash flows from operating activities: Net loss attributable to PagerDuty, Inc. common stockholders $ (6,558 ) $ (15,125 ) $ (43,856 ) $ (51,125 ) Net loss and adjustment attributable to redeemable non-controlling interest 431 2,035 9,200 2,575 Net loss (6,127 ) (13,090 ) (34,656 ) (48,550 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 5,071 5,025 15,526 15,016 Amortization of deferred contract costs 5,555 5,123 16,261 15,286 Amortization of debt issuance costs 671 523 1,950 1,456 Gain on extinguishment of convertible senior notes — (3,970 ) — (3,970 ) Stock-based compensation 31,773 31,828 97,079 94,910 Non-cash lease expense 903 1,106 2,538 3,425 Other (1,387 ) (1,524 ) (3,852 ) (1,426 ) Changes in operating assets and liabilities: Accounts receivable (8,406 ) (5,420 ) 24,751 18,983 Deferred contract costs (5,311 ) (5,520 ) (15,441 ) (12,285 ) Prepaid expenses and other assets (2,217 ) (1,289 ) (5,079 ) (2,674 ) Accounts payable (176 ) (757 ) 603 (1,002 ) Accrued expenses and other liabilities (473 ) 781 (1,302 ) 767 Accrued compensation 4,823 5,706 4,002 (13,086 ) Deferred revenue (1,070 ) (119 ) (11,386 ) (12,547 ) Lease liabilities (1,556 ) (1,486 ) (4,505 ) (4,484 ) Net cash provided by operating activities 22,073 16,917 86,489 49,819 Cash flows from investing activities: Purchases of property and equipment (552 ) (245 ) (1,646 ) (1,193 ) Capitalized internal-use software costs (2,078 ) (1,441 ) (5,019 ) (3,812 ) Purchases of available-for-sale investments (54,721 ) (43,927 ) (153,121 ) (151,984 ) Proceeds from maturities of available-for-sale investments 54,250 56,500 147,827 164,064 Proceeds from sales of available-for-sale investments — — 2,237 — Purchases of non-marketable equity investments — — — (200 ) Net cash (used in) provided by investing activities (3,101 ) 10,887 (9,722 ) 6,875 Cash flows from financing activities: Proceeds from issuance of convertible senior notes, net of issuance costs — 391,543 (403 ) 391,543 Purchases of capped calls related to convertible senior notes — (55,102 ) — (55,102 ) Repurchases of convertible senior notes — (223,471 ) — (223,471 ) Investment from redeemable non-controlling interest holder — — — 1,781 Repurchases of common stock (70,310 ) (50,000 ) (97,523 ) (50,000 ) Proceeds from employee stock purchase plan — — 5,735 6,292 Proceeds from issuance of common stock upon exercise of stock options 723 973 1,527 8,390 Employee payroll taxes paid related to net share settlement of restricted stock units (8,531 ) (9,786 ) (22,659 ) (25,772 ) Net cash (used in) provided by financing activities (78,118 ) 54,157 (113,323 ) 53,661 Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash (86 ) (177 ) (109 ) (451 ) Net change in cash, cash equivalents, and restricted cash (59,232 ) 81,784 (36,665 ) 109,904 Cash, cash equivalents, and restricted cash at beginning of period 389,234 302,139 366,667 274,019 Cash, cash equivalents, and restricted cash at end of period $ 330,002 $ 383,923 $ 330,002 $ 383,923 Non-GAAP Financial Measures This press release and the accompanying tables contain the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributable to PagerDuty, Inc. common stockholders, non-GAAP net income per share attributable to PagerDuty, Inc. common stockholders, free cash flow, and free cash flow margin. PagerDuty believes that non-GAAP financial measures, when taken collectively, may be helpful to investors because they provide consistency and comparability with past financial performance and can assist in comparisons with other companies, some of which use similar non-GAAP financial measures to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP measures used by other companies. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in PagerDuty’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by PagerDuty’s management about which expenses and income are excluded or included in determining these non-GAAP financial measures. A reconciliation is provided below for each historical non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP. Specifically, PagerDuty excludes the following from its historical and prospective non-GAAP financial measures, as applicable: Stock-based compensation: PagerDuty utilizes stock-based compensation to attract and retain employees. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. As a result, stock-based compensation expenses vary for reasons that are generally unrelated to financial and operational performance in any particular period. Employer taxes related to employee stock transactions: PagerDuty views the amount of employer taxes related to its employee stock transactions as an expense that is dependent on its stock price, employee exercise and other award disposition activity, and other factors that are beyond PagerDuty’s control. As a result, employer taxes related to employee stock transactions vary for reasons that are generally unrelated to financial and operational performance in any particular period. Amortization of acquired intangible assets: PagerDuty views amortization of acquired intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period. Acquisition-related expenses: PagerDuty views acquisition-related expenses, such as transaction costs, acquisition-related retention payments, and acquisition-related asset impairment, as events that are not necessarily reflective of operational performance during a period. In particular, PagerDuty believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses. Amortization of debt issuance costs: The imputed interest rates of the Company's convertible senior notes (the "2025 Notes" and the "2028 Notes" or, collectively, the "Notes") was approximately 1.91% for the 2025 Notes and 2.13% for the 2028 Notes. This is a result of the debt issuance costs, which reduce the carrying value of the convertible debt instruments. The debt issuance costs are amortized as interest expense. The expense for the amortization of the debt issuance costs is a non-cash item, and we believe the exclusion of this interest expense will provide for a more useful comparison of our operational performance in different periods. Restructuring costs: PagerDuty views restructuring costs, such as employee severance-related costs and real estate impairment costs, as events that are not necessarily reflective of operational performance during a period. In particular, PagerDuty believes the consideration of measures that exclude such expenses can assist in the comparison of operational performance in different periods which may or may not include such expenses. Gains (or losses) on partial extinguishment of convertible senior notes: PagerDuty views gains (or losses) on partial extinguishment of debt as events that are not necessarily reflective of operational performance during a period. PagerDuty believes that the consideration of measures that exclude such gain (or loss) impact can assist in the comparison of operational performance in different periods which may or may not include such gains (or losses). Adjustment attributable to redeemable non-controlling interest: PagerDuty adjusts the value of redeemable non-controlling interest of its joint venture PagerDuty K.K. according to the operating agreement. PagerDuty believes this adjustment is not reflective of operational performance during a period and exclusion of such adjustments can assist in comparison of operational performance in different periods. Income tax effects and adjustments: Based on PagerDuty's financial outlook for fiscal 2025, PagerDuty is utilizing a projected non-GAAP tax rate of 23% in order to provide better consistency across the interim reporting periods by eliminating the impact of non-recurring and period specific items, which can vary in size and frequency. PagerDuty's estimated tax rate on non-GAAP income is determined annually and may be adjusted during the year to take into account events or trends that PagerDuty believes materially impact the estimated annual rate including, but not limited to, significant changes resulting from tax legislation, material changes in the geographic mix of revenue and expenses and other significant events. Non-GAAP gross profit and non-GAAP gross margin We define non-GAAP gross profit as gross profit excluding the following expenses typically included in cost of revenue: stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, and restructuring costs. We define non-GAAP gross margin as non-GAAP gross profit as a percentage of revenue. Non-GAAP operating expenses We define non-GAAP operating expenses as operating expenses excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments, and asset impairment, and restructuring costs which are not necessarily reflective of operational performance during a given period. Non-GAAP operating income and non-GAAP operating margin We define non-GAAP operating income as loss from operations excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments, and asset impairment, and restructuring costs which are not necessarily reflective of operational performance during a given period. We define non-GAAP operating margin as non-GAAP operating income as a percentage of revenue. Non-GAAP net income attributable to PagerDuty, Inc. common stockholders We define non-GAAP net income attributable to PagerDuty, Inc. common stockholders as net loss attributable to PagerDuty, Inc. common stockholders excluding stock-based compensation expense, employer taxes related to employee stock transactions, amortization of debt issuance costs, amortization of acquired intangible assets, acquisition-related expenses, which include transaction costs, acquisition-related retention payments and asset impairment, restructuring costs, adjustment attributable to redeemable non-controlling interest, and income tax adjustments, which are not necessarily reflective of operational performance during a given period. Non-GAAP net income per share, basic and diluted We define non-GAAP net income per share, basic as non-GAAP net income attributable to PagerDuty, Inc. common stockholders divided by weighted average shares outstanding at the end of the reporting period. We define non-GAAP net income per share, diluted as non-GAAP net income attributable to PagerDuty, Inc. common stockholders divided by weighted average diluted shares outstanding at the end of the reporting period. Free cash flow and free cash flow margin We define free cash flow as net cash provided by operating activities, less cash used for purchases of property and equipment and capitalization of internal-use software costs. We define free cash flow margin as free cash flow as a percentage of revenue. In addition to the reasons stated above, we believe that free cash flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash in excess of our capital investments in property and equipment in order to enhance the strength of our balance sheet and further invest in our business and potential strategic initiatives. A limitation of the utility of free cash flow as a measure of our liquidity is that it does not represent the total increase or decrease in our cash balance for the period. We use free cash flow in conjunction with traditional U.S. GAAP measures as part of our overall assessment of our liquidity, including the preparation of our annual operating budget and quarterly forecasts and to evaluate the effectiveness of our business strategies. There are a number of limitations related to the use of free cash flow as compared to net cash provided by operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made. PagerDuty encourages investors to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate PagerDuty’s business. Please see the reconciliation tables at the end of this release for the reconciliation of non-GAAP financial measures to their most-comparable GAAP financial measures. PAGERDUTY, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands, except percentages and per share data) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Non-GAAP gross profit and non-GAAP gross margin Gross profit $ 98,678 $ 89,015 $ 286,362 $ 262,108 Add: Stock-based compensation 1,432 1,820 4,696 5,860 Employer taxes related to employee stock transactions 29 21 112 138 Amortization of acquired intangible assets 2,200 2,087 6,875 6,260 Restructuring costs — — (2 ) 137 Non-GAAP gross profit $ 102,339 $ 92,943 $ 298,043 $ 274,503 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Gross Margin 83.0 % 81.9 % 82.8 % 82.0 % Non-GAAP gross margin 86.0 % 85.5 % 86.1 % 85.9 % Non-GAAP operating expenses Research and development $ 34,267 $ 34,272 $ 106,878 $ 104,221 Less: Stock-based compensation 11,576 11,128 34,640 34,002 Employer taxes related to employee stock transactions 173 210 691 930 Acquisition-related expenses 227 161 750 484 Amortization of acquired intangible assets — 88 116 262 Restructuring costs — — (2 ) (5 ) Non-GAAP research and development $ 22,291 $ 22,685 $ 70,683 $ 68,548 Sales and marketing $ 49,272 $ 49,630 $ 148,737 $ 143,155 Less: Stock-based compensation 7,639 8,094 23,702 22,362 Employer taxes related to employee stock transactions 128 39 463 589 Amortization of acquired intangible assets 632 610 1,897 1,830 Restructuring costs — (1 ) (10 ) (49 ) Non-GAAP sales and marketing $ 40,873 $ 40,888 $ 122,685 $ 118,423 General and administrative $ 25,432 $ 25,955 $ 78,800 $ 77,547 Less: Stock-based compensation 11,126 10,786 34,041 32,686 Employer taxes related to employee stock transactions 122 145 463 658 Acquisition-related expenses — 530 (1 ) 530 Amortization of acquired intangible assets — 21 29 65 Restructuring costs — 133 24 1,451 Non-GAAP general and administrative $ 14,184 $ 14,340 $ 44,244 $ 42,157 Note: Certain figures may not sum due to rounding. PAGERDUTY, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued) (in thousands, except percentages and per share data) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Non-GAAP operating income and non-GAAP operating margin Loss from operations $ (10,293 ) $ (20,842 ) $ (48,053 ) $ (62,815 ) Add: Stock-based compensation 31,773 31,828 97,079 94,910 Employer taxes related to employee stock transactions 452 415 1,729 2,315 Amortization of acquired intangible assets 2,832 2,806 8,917 8,417 Acquisition-related expenses 227 691 749 1,014 Restructuring costs — 132 10 1,534 Non-GAAP operating income $ 24,991 $ 15,030 $ 60,431 $ 45,375 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Operating margin (8.7 )% (19.2 )% (13.9 )% (19.7 )% Non-GAAP operating margin 21.0 % 13.8 % 17.5 % 14.2 % Non-GAAP net income attributable to PagerDuty, Inc. common stockholders Net loss attributable to PagerDuty, Inc. common stockholders $ (6,558 ) $ (15,125 ) $ (43,856 ) $ (51,125 ) Add: Stock-based compensation 31,773 31,828 97,079 94,910 Employer taxes related to employee stock transactions 452 415 1,729 2,315 Amortization of debt issuance costs 671 523 1,950 1,456 Amortization of acquired intangible assets 2,832 2,806 8,917 8,417 Acquisition-related expenses 227 691 749 1,014 Restructuring costs — 132 10 1,534 Gain on extinguishment of convertible senior notes — (3,970 ) — (3,970 ) Adjustment attributable to redeemable non-controlling interest 634 2,359 9,881 4,088 Income tax effects and adjustments (6,310 ) (466 ) (16,402 ) (1,920 ) Non-GAAP net income attributable to PagerDuty, Inc. common stockholders $ 23,721 $ 19,193 $ 60,057 $ 56,719 Non-GAAP net income per share, basic Net loss per share, basic, attributable to PagerDuty, Inc. common stockholders $ (0.07 ) $ (0.16 ) $ (0.47 ) $ (0.55 ) Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders 0.33 0.37 1.12 1.16 Non-GAAP net income per share, basic, attributable to PagerDuty, Inc. common stockholders $ 0.26 $ 0.21 $ 0.65 $ 0.61 Non-GAAP net income per share, diluted (1) Net loss per share, diluted, attributable to PagerDuty, Inc. common stockholders $ (0.07 ) $ (0.16 ) $ (0.47 ) $ (0.55 ) Non-GAAP adjustments to net loss attributable to PagerDuty, Inc. common stockholders 0.32 0.36 1.10 1.13 Non-GAAP net income per share, diluted, attributable to PagerDuty, Inc. common stockholders $ 0.25 $ 0.20 $ 0.63 $ 0.58 Weighted-average shares used in calculating net loss per share, basic and diluted 91,438 93,104 92,530 92,257 Weighted-average shares used in calculating non-GAAP net income per share Basic 91,438 93,104 92,530 92,257 Diluted 94,036 96,235 95,549 100,834 Note: Certain figures may not sum due to rounding. (1) On October 13, 2023, the Company provided written notice to the trustee and the note holders of the 2025 Notes that it had irrevocably elected to settle the principal amount of its convertible senior notes in cash and pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, in respect to the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2025 Notes being converted. The company uses the if-converted method to calculate the non-GAAP net income per diluted share attributable to PagerDuty, Inc. related to the convertible notes due 2025 prior to the election on October 13, 2023. As such, approximately 5.8 million and 6.7 million shares related to the convertible notes due 2025 were included in the non-GAAP diluted outstanding share number for the three and nine months ended October 31, 2023, respectively, related to the period prior to the election on October 13, 2023. Similarly, for the three and nine months ended October 31, 2023, the numerator used to compute this measure was increased by $0.7 million and $2.5 million, respectively, for after-tax interest expense savings related to our convertible notes. PAGERDUTY, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (continued) (in thousands, except percentages) (unaudited) Three months ended October 31, Nine months ended October 31, 2024 2023 2024 2023 Free cash flow and free cash flow margin Net cash provided by investing activities $ 22,073 $ 16,917 $ 86,489 $ 49,819 Purchases of property and equipment (552 ) (245 ) (1,646 ) (1,193 ) Capitalization of internal-use software costs (2,078 ) (1,441 ) (5,019 ) (3,812 ) Free cash flow $ 19,443 $ 15,231 $ 79,824 $ 44,814 Net cash (used in) provided by investing activities $ (3,101 ) $ 10,887 $ (9,722 ) $ 6,875 Net cash (used in) provided by financing activities $ (78,118 ) $ 54,157 $ (113,323 ) $ 53,661 Revenue $ 118,946 $ 108,720 $ 346,053 $ 319,582 Free cash flow margin 16.3 % 14.0 % 23.1 % 14.0 % View source version on businesswire.com : https://www.businesswire.com/news/home/20241126811639/en/ CONTACT: Investor Relations Contact: Tony Righetti investor@pagerduty.comMedia Contact: Debbie O'Brien media@pagerduty.comSOURCE PagerDuty KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ARTIFICIAL INTELLIGENCE DATA MANAGEMENT SOURCE: PagerDuty, Inc. Copyright Business Wire 2024. PUB: 11/26/2024 04:05 PM/DISC: 11/26/2024 04:05 PM http://www.businesswire.com/news/home/20241126811639/en
Stock Funds Rallied 7.5% in NovemberWhat happens when 'The Simpsons' join 'Monday Night Football'? Find out during Bengals-Cowboys
CMG Deadline Alert: CMG Investors with Losses in Excess of $100K Have Opportunity to Lead Chipotle Mexican Grill, Inc. Securities Fraud Lawsuit Filed by The Rosen Law FirmThings are ramping up here at the RDS as the first ballots are coming through this Saturday evening. And the excitement is building too – an eager scrum of photographers have been waiting in angst all day for the arrival of a certain Dublin central constituent. But first to pip Gerry Hutch to the post with her arrival to The RDS was Sinn Fein leader Mary Lou McDonald. While speaking to awaiting media, she talked about ‘breaking the two-party system’, but have things really been positive this weekend for Sinn Fein, and where does another term on the sidelines leave the party’s future? Garry Gannon discusses his red line issues and why he's keen for a seat at the table regardless of who is sitting beside him. And what about celebrity candidates? Well things have not been going well for Gráinne Seoige in the West of the country, as she looks unlikely to claim a seat. Today on this Indo Daily Election Extra, Ellen Coyne is joined by The Irish Independent’s political editor Philip Ryan, and by Election Extra royalty Finian McGrath, to discuss the latest on a hectic Saturday evening here at the RDS.Lisa Simpson once said during an episode of “The Simpsons:” What could be more exciting than the savage ballet that is pro football? On Monday night, the entire Simpsons universe gets to experience it in a way not many could have imagined. The prime-time matchup between the Cincinnati Bengals and Dallas Cowboys will also take place at Springfield’s Atoms Stadium as part of “The Simpsons Funday Football” alternate broadcast. The altcast will be streamed on ESPN+, Disney+, and NFL+ (on mobile devices). ESPN and ABC have the main broadcast, while ESPN2 will carry the final “ManningCast” of the regular season. The replay will be available on Disney+ for 30 days. Globally, more than 145 countries will have access to either live or on replay. “We’re such huge football fans, and the Simpsons audience and the football audience, I feel, are like the same audience of just American families and football. And the Simpsons are so much a part of the DNA of the American family and culture that for us to, like, mush them together in this crazy video game, it’s so fun,” said Matt Selman, executive producer of “The Simpsons.” While the game is the focal point, the alternate broadcast, in some ways, will resemble a three-hour episode of “The Simpsons.” It starts with Homer eating too many hot dogs and having a dream while watching football. Homer joins the Cowboys in the dream while Bart teams up with the Bengals. Lisa and Marge will be sideline reporters. “That’s the beginning of the story, and the story continues through the entire game until Homer wakes up from his dream at the end of the game. It is like a complete story, and the NFL game will happen in between. It’s just going to be an amazing presentation with tons of surprises,” said Michael “Spike” Szykowny, ESPN’s VP of edit and animation. This is the second year ESPN has done an alternate broadcast for an NFL game. It used the characters from “Toy Story” for last year’s Sunday morning game from London between the Atlanta Falcons and Jacksonville Jaguars. “The Simpsons” has featured many sports-themed episodes during its 35 seasons. Even though “Homer at the Bat” remains the consensus favorite sports episode for many Simpsons fans, there have been football ones such as “Bart Star” and “Lisa The Greek.” There also was a Super Bowl-themed one after Fox’s broadcast of Super Bowl 33 between Denver and Atlanta in 1999. Even though “The Simpsons” remains a staple on Fox’s prime-time schedule, it is part of the Disney family after their acquisition of 20th Century Fox in 2019. All 35 seasons are on Disney+. The show’s creators have worked with ESPN and the NFL to make sure the look and sound is definitely Simpsonsesque. The theme song is a mash-up of “The Simpsons” opening and “Monday Night Football’s” iconic “Heavy Action.” There have also been pre-recorded skits and bits to use during the broadcast featuring Simpson’s legendary voices Hank Azaria, Nancy Cartwright, Dan Castellaneta, Julie Kavner, and Yeardley Smith. The telecast will be entirely animated, with the players’ movements in sync with what is happening in real-time on the field. That is done through player-tracking data enabled by the NFL’s Next Gen Stats system and Sony’s Beyond Sports Technology. While Next Gen Stats tracks where players are on the field with a tracking chip in the shoulder pads, there is skeletal data tracking and limb tracking data — which uses 29 points per player — to get closer to the player’s movements. The other data tracking will allow Beyond Sports and Disney to add special characters to the game. For example, there might be a play where Lisa catches the ball and goes 30 yards instead of Cincinnati’s Tee Higgins. “Lisa is much smaller than the rest of the players. So, in real life, the ball would go over her head, but now, with data processing, we can take the ball and make it go exactly into her hands. So for the viewer, it still looks believable, and it all makes sense,” said Beyond Sports co-founder Nicolaas Westerhof. The other major challenge is making “The Simpsons” two-dimensional cartoon characters into 3-D simulations. Szykowny and his team worked to make that a reality over the past couple of months. “That’s a big leap of faith for them to say, hey, we trust you to make our characters 3-D and work with it. Our ESPN creative studio team has done a wonderful job,” Szykowny said. Lisa, Krusty, Nelson, Milhouse and Ralph will be with Bart and the Bengals; while Carl, Barney, Lenny and Moe join up with with Homer and the Cowboys. The broadcast will also feature ESPN personalities Stephen A. Smith, Peyton Manning and Eli Manning. ESPN’s Drew Carter, Mina Kimes and Dan Orlovsky will call the game from Bristol, Connecticut, and also be animated. They will wear Meta Quest Pro headsets to experience the game from Springfield using VR technology. For Kimes, being part of the broadcast and being an animated Simpsons character is a dream come true. She is a massive fan of the show and has a framed photo of Lisa Simpson — who she said is a personal hero and icon — as part of her backdrop when she makes appearances on ESPN NFL shows from her home in Los Angeles. “I didn’t have any input, and I didn’t see anything beforehand, so I wasn’t sure if it would look like me, but it kind of does, which is very funny,” said Kimes, who drew Simpsons characters when she was a kid. “To see the actual staff turn me into one was a dream.” Even though the Bengals (4-8) and Cowboys (5-7) have struggled this season, Selman thinks both teams have personalities that appeal to “The Simpsons” universe. “We were just so lucky also that the Cowboys are sort of like a Homer Simpson-type team, American team, and Mike McCarthy might be a Homer-type guy, one might imagine,” he said. ”And then you have Joe Burrow on the other side who is a cool young, spiky-haired, blonde bad boy -- he’s like Bart. And that fits our character archetypes so perfectly. “If Homer is mad at Bart and has a hot dog dream while watching ’Monday Night Football’, and then it’s basically McCarthy versus Burrow, Homer versus Bart, and that’s the simple father versus son strangling — Homer strangling Bart dynamic that has been part of the show for 35 years. I don’t know if that would have worked as well if it was like Titans versus Jacksonville. We would have found something. We would have made it work.” AP NFL: https://apnews.com/hub/nfl
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