NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. (“Pony.ai” or the “Company”) (Nasdaq: PONY), a global leader in achieving large-scale commercialization of autonomous mobility, today announced it has received a permit from Luxembourg’s Ministry of Mobility and Public Works to begin Level 4 (L4) Robotaxi testing. This pivotal milestone comes as Pony.ai establishes its first dedicated European research and testing hub in Luxembourg, making it the first autonomous vehicle company to do so. Pony.ai’s c ...

Forward-Looking information Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-Looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-Looking statements are not guarantees of future per ...

Tenet's Business Hub Welcomes Three More Accounting and Bookkeeping Service Partners, Collectively Servicing SMEs in Major North American CitiesMarch 28, 2025 7:35 AM EDT | Source: Tenet Fintech Group Inc.Toronto, Ontario--(Newsfile Corp. - March 28, 2025) - Tenet Fintech Group Inc. (CSE: PKK) (OTCQB: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler® Business Hub, today announced that it recently entered into partnership agreements ...

Core Insights - The Now Corporation's subsidiary, Green Rain Solar, is leading the installation of a new Electric Vehicle (EV) charging hub in Carson, California, featuring high-capacity 200 kW DC fast chargers [2][3] Project Overview - The project includes the installation of three high-capacity EV chargers, aimed at promoting clean energy solutions and supporting the transition to electric mobility [3] - The charging stations will provide rapid charging capabilities, significantly reducing downtime for EV drivers [3] Regulatory and Environmental Impact - The project qualifies under Southern California Edison's Rule 29, which simplifies and reduces costs for deploying EV infrastructure, allowing for streamlined installation and reduced upfront costs [5] - The initiative is expected to positively impact local air quality by encouraging electric vehicle adoption, aligning with California's clean air initiatives and greenhouse gas reduction goals [6] Company Commitment - The CEO of The Now Corporation emphasized that this project is a significant step towards building a sustainable future and reducing carbon emissions through clean energy adoption [7] - Green Rain Solar specializes in the design, installation, and maintenance of solar energy systems and EV charging infrastructure, focusing on sustainability and innovation [11] Technical and Strategic Aspects - The project adheres to California Building Codes and National Electrical Code (NEC) standards, ensuring safety and environmental compliance [10] - The strategic location on Main Street in Carson will serve as a critical hub for EV drivers, providing convenient access to fast charging [10] - Collaboration with Southern California Edison will ensure seamless utility interconnection and operational efficiency [10]

Toronto, Ontario--(Newsfile Corp. - March 7, 2025) - Tenet Fintech Group Inc. (CSE: PKK) (OTCQB: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider, owner and operator of the Cubeler® Business Hub, today announced that it will be adding support for at least three new accounting software packages to the Business Hub.The Company's Business Hub currently supports the top three accounting software packages used by small businesses in Canada, combining for a market share of almost 70%, ...

Financial Performance - Hub Group, Inc. generated approximately $4 billion in annual revenue, driven by new customer additions and service cross-selling [16]. - Total operating revenue decreased by 6% to $3.9 billion in 2024 from $4.2 billion in 2023 [124]. - Operating revenue for 2024 was $3,946,390, a decrease of 6.1% from $4,202,585 in 2023 [203]. - Total operating income decreased to $140.3 million in 2024, down from $212.2 million in 2023, representing a decline of 34% [124]. - Net income attributable to Hub Group, Inc. decreased to $103,993 in 2024, a decline of 37.9% compared to $167,528 in 2023 [203]. - Basic earnings per share dropped to $1.72 in 2024, down 35.2% from $2.65 in 2023 [203]. - Comprehensive income attributable to Hub Group, Inc. was $102,669 in 2024, a decrease of 38.7% from $167,613 in 2023 [206]. - The company reported a total operating expense of $3,806,099 in 2024, down 4.6% from $3,990,354 in 2023 [203]. Operations and Logistics - The company operates approximately 50,000 dry containers and 900 refrigerated containers as of December 31, 2024 [21]. - As of December 31, 2024, Hub Group's trucking operation consisted of approximately 2,300 tractors, 3,200 employee drivers, and 4,700 trailers [22]. - Approximately 73% of drayage services were provided by Hub Group's own fleet, with 500 independent owner-operators contracted [24][27]. - Hub Group's logistics segment operates or has access to approximately 7 million square feet of warehousing and cross-dock space across North America [25]. - The company operates 101 offices, terminals, and warehouses across the United States, Canada, and Mexico as of December 31, 2024 [102]. Acquisitions and Growth Strategy - The company acquired 100% of Forward Air Final Mile on December 20, 2023, enhancing its logistics segment with last mile delivery services [18]. - The company regularly evaluates acquisitions to enhance core business lines, with recent acquisitions including TAGG Logistics and EASO [17][19]. - The company entered into an investment agreement to acquire a controlling interest in EASO for approximately $55 million on October 23, 2024 [122]. - The company’s growth may be adversely affected if it cannot pursue its acquisition strategy or successfully integrate acquired businesses, impacting revenue and net income [77]. Financial Position and Cash Flow - Cash provided by operating activities totaled $194 million in 2024, down from $422 million in 2023, a decrease of $228 million [162]. - Total current assets decreased to $768,329 in 2024, down 9.5% from $849,245 in 2023 [201]. - Total liabilities decreased to $1,176,392 in 2024, down from $1,283,074 in 2023, reflecting a reduction of 8.3% [201]. - Total stockholders' equity increased to $1,691,951 in 2024, up from $1,634,645 in 2023, representing a growth of 3.5% [201]. - Net cash used in financing activities was $201 million in 2024, including $107 million for long-term debt repayments and $30 million in dividends paid [166]. Cost Structure and Expenses - Purchased transportation and warehousing costs represented 74% of consolidated revenue in 2024, 75% in 2023, and 76% in 2022, indicating a significant cost burden on the company [62]. - Salaries and benefits increased to $577 million in 2024 from $553 million in 2023, rising to 14.6% of revenue [132]. - General and administrative expenses increased to $114 million in 2024 from $106 million in 2023, rising to 2.9% of revenue [137]. - Depreciation and amortization expenses rose to $144 million in 2023 from $132 million in 2022, increasing to 3.4% of revenue from 2.5% [153]. Market and Economic Risks - The transportation and logistics industry is highly competitive, with potential downward pricing pressures impacting revenue and profit margins [52]. - Economic downturns and global uncertainties may decrease demand for the company's services, affecting revenue and profitability [54]. - The company is significantly affected by driver shortages, which have led to increased compensation costs that may not be fully passed on to customers [51]. - Cost increases outside of the company's control, such as fuel prices and wage rates, could materially reduce profitability if rates cannot be increased sufficiently [58]. - The company faces risks from geopolitical events and regulatory changes that could disrupt operations and increase costs [86]. Technology and Innovation - Hub Group's digital strategy includes significant investments in technology for customer management, pricing, and order-to-cash processes [15]. - Technology investments are critical for maintaining competitiveness, with ongoing enhancements in order management, transportation management, and warehouse automation [69]. - The company leverages proprietary technology and collaborative relationships with third-party service providers to enhance supply chain services [119]. Compliance and Legal Risks - Legal and regulatory risks related to independent contractor classifications could lead to significant liabilities, including unpaid wages and employee benefits [81]. - Compliance with environmental laws and regulations may result in substantial costs, and violations could lead to significant fines [87]. - The company is subject to various litigation risks that could result in significant expenses and impact financial condition [90]. Shareholder Returns - The Board declared a quarterly cash dividend of $0.125 per share on Class A and Class B Common Stock throughout 2024 [112]. - In October 2023, the Board authorized a share repurchase program of up to $250 million for Class A Common Stock [108]. - The company purchased 39,364 shares of Class A Common Stock for $1.7 million related to employee withholding in Q4 2024 [109].

Core Insights - Infinum and Versuni have partnered to create HomeID, an innovative IoT platform designed for Philips home appliances, serving as both a device companion app and a community hub [2][3] - The platform aims to replace multiple individual apps for Versuni's home appliances, providing a seamless experience across all Philips devices [3][4] - HomeID features a scalable system architecture and user-driven design, allowing users to connect and manage multiple devices via smartphones, with a personalized recipe recommendation system [4][6] Company Overview - Infinum is an independent tech consultancy founded in 2005, specializing in delivering innovative digital solutions across various industries, including finance, healthcare, and automotive, with over 370 professionals [7] - Versuni is a producer of consumer electronics and small appliances, building on Philips' legacy of innovation that spans 130 years, focusing on modern and sustainable solutions for home appliances [8] User Engagement and Recognition - The HomeID app has over one million monthly active users across 70 countries and has achieved a 4.8 rating on the App Store [6] - The app has received multiple accolades, including four Red Dot Awards and four consecutive iF Design Awards, highlighting its design and functionality [6]

Core Insights - Belcan, LLC, a Cognizant company, has opened a new office in Toulouse, France, to better support the global aerospace and defense industry and local OEMs [1][2] Company Expansion - The new office is strategically located in Toulouse's aerospace valley, facilitating access for key industry players to Belcan's expertise in design, analysis, and digitalization [2] - Claude Castan, an experienced professional in the aerospace and defense sector, will lead the Toulouse office, which is situated on the top floor of the Blagnac Airport Supplier Village [3] Commitment to Innovation - The CEO of Belcan expressed enthusiasm about establishing a presence in Toulouse, emphasizing the company's commitment to delivering high-performance engineering solutions tailored to the unique needs of regional clients [3] - The local team will collaborate with Belcan's global network to provide comprehensive solutions aimed at driving innovation, productivity, and growth [3] Company Overview - Belcan is a global supplier of various engineering solutions across multiple sectors, including aerospace, defense, automotive, and industrial markets, with over 60 years of experience [4]

Financial Performance - Hub Group's Q4 2024 revenue was $1 billion, and full-year revenue reached $4 billion[31] - The company's Q4 2024 GAAP EPS was $040, with a full-year GAAP EPS of $170[31] - Adjusted EPS for Q4 2024 was $048, and the full-year adjusted EPS was $191[31] - Hub Group returned nearly $100 million to shareholders in 2024 through share repurchases and dividends[31] Segment Performance - Intermodal & Transportation Solutions (ITS) revenue for Q4 2024 was $570 million[36] - The Logistics segment's revenue for Q4 2024 was $429 million[47] - Intermodal volume growth showed a 14% increase in Q4 2024, driven by double-digit growth in Local East, Local West, and Mexico[41] Balance Sheet and Outlook - Hub Group has a strong balance sheet with $127 million in cash and a net debt/adjusted EBITDA ratio of 05x as of December 31, 2024[31] - The company expects revenue between $40 billion and $43 billion and EPS between $190 and $240 for 2025[31]

Financial Data and Key Metrics Changes - For the full year, Hub Group generated revenue of $4 billion, a 6% decrease over the prior year [19] - For Q4, revenue was reported at $1 billion, a decline of 1% compared to last year's quarterly revenue [19] - Adjusted operating income margin for Q4 was 3.9%, an increase of 40 basis points over the prior year [23] - Adjusted EPS for Q4 was $0.48, with adjusted cash EPS at $0.59 [25] Business Line Data and Key Metrics Changes - Intermodal revenue was $570 million, down 1% from the prior year, with intermodal volumes increasing 14% year-over-year in Q4 [19][10] - Dedicated revenue per truck per day increased by 13%, with year-over-year earnings growth [12] - Logistics revenue was $429 million, down from $438 million in the prior year, with a 20 basis point improvement in operating margins [21][13] Market Data and Key Metrics Changes - Intermodal volumes increased 14% year-over-year in Q4, with local leads up 25% [10] - The company anticipates high single-digit intermodal volume growth for the full year 2025 [29] - Cross-border business with Mexico and Canada accounts for about 6% of total intermodal volume [64] Company Strategy and Development Direction - The company is focused on controlling costs, enhancing efficiency, and improving service levels to drive growth [8][33] - Strategic investments and acquisitions are aimed at building scale and differentiation in service offerings [56] - The company plans to integrate ViaSatso into its financials and focus on replacing aging tractors and technology projects in 2025 [28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about industry trends, with capacity exiting the market and consumer resilience [8] - The company expects revenue and earnings improvement in 2025 due to enhanced cost structure and efficiency [9] - Management noted that while Q1 may see a slight earnings step down, profitability is expected to increase as the year progresses [31] Other Important Information - The company returned nearly $100 million to shareholders through dividends and stock repurchases in 2024 [26] - Full-year CapEx was $51 million, in line with estimates, and net debt was $167 million [26][27] Q&A Session Summary Question: Can you help shape the year? - Management expects intermodal volume to be comparable to Q4, with some headwinds from lower intermodal fees and seasonal decreases in final mile business [39][40] Question: How do intermodal margins ramp throughout the year? - Management anticipates low single-digit price increases in intermodal, with a focus on network-friendly business [45] Question: Can you walk us through logistics margin expansion? - Management expects to achieve a 100 basis point improvement in logistics margins, with a ramp-up as the year progresses [52][54] Question: How is the M&A pipeline looking? - Management has a strong M&A pipeline focused on non-asset logistics segments and sees an active year ahead [56] Question: What are the assumptions for guidance? - The high end of guidance assumes truckload market tightening and additional pricing on intermodal, while the low end considers potential consumer squeeze from inflation [87][88] Question: What is the outlook for dedicated business? - Management is pleased with dedicated business performance, expecting revenue growth and improved asset efficiency [92][95] Question: How is the brokerage volume guidance looking? - Management anticipates mid-single-digit growth in brokerage volumes, with strong performance in LTL and strategic customer wins [135]