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HR tech firm Rippling raises new funding at $16.8 billion valuation, no IPO plans
Reuters· 2026-05-09 17:02
Core Insights - Rippling, an HR software startup, raised $450 million in Series G funding, achieving a valuation of $16.8 billion, focusing on global revenue growth over immediate profitability [1][4][5] Funding and Valuation - The funding round included participation from notable investors such as Y Combinator, Elad Gil, Sands Capital, GIC, and Goldman Sachs Growth [2] - The new valuation of $16.8 billion marks an increase from the previous valuation of $13.5 billion in early 2024 [4] Employee Equity and IPO Plans - Rippling plans to repurchase up to $200 million of equity from current and former employees through a tender offer, which may become an annual event [2][3] - The CEO stated that the company does not have immediate plans for an IPO, emphasizing the need for profitability before considering going public [4][6] Business Performance and Strategy - Rippling has surpassed $100 million in annual recurring revenue and serves over 20,000 customers with a suite of more than 20 products [5] - The company is prioritizing growth over profitability, indicating a strategic choice to expand rapidly rather than slow down for immediate profit [6] Legal Challenges - Rippling is involved in ongoing legal disputes with competitor Deel, including allegations of corporate espionage, which have raised questions about competitive practices in the tech industry [7][8]
Tree Island Steel Announces Full Year 2025 Results
Globenewswire· 2026-03-13 02:35
Core Viewpoint - Tree Island Steel reported a significant decline in revenues and profits for the year ended December 31, 2025, primarily due to lower U.S. sales volumes impacted by tariffs and a strategic withdrawal from unprofitable product lines, while focusing on strengthening its position in the Canadian market [2][3][4]. Financial Performance - For Q4 2025, revenues were $32.4 million, down from $44.8 million in Q4 2024, attributed to lower U.S. sales and strategic product line withdrawals [2]. - Full-year revenues totaled $161.8 million, a decrease from $207.0 million in 2024, despite higher average selling prices [3]. - Gross profit declined to $9.5 million from $11.8 million, and adjusted EBITDA decreased to $3.0 million from $4.3 million, reflecting lower sales and production volumes [3][6]. - The company implemented cost-management initiatives, including a 27% workforce reduction, to mitigate the impact of reduced volumes [3]. Dividends and Future Outlook - The company paid quarterly dividends of $0.015 per share in 2025 but has suspended dividend payments in 2026 due to ongoing economic uncertainty [4]. - The total assets as of December 31, 2025, were $154.9 million, down from $168.8 million in 2024 [5]. Operational Insights - The company continues to focus on the Canadian market amidst challenges posed by U.S. tariffs, indicating a strategic shift in market focus [4]. - The company produces a variety of wire products for industrial, residential, commercial, and agricultural applications, marketed under several brand names [8].
Tree Island Steel Announces Full Year 2025 Results
Globenewswire· 2026-03-13 02:35
Core Viewpoint - Tree Island Steel reported a significant decline in revenues and profits for the year ended December 31, 2025, primarily due to lower U.S. sales volumes impacted by tariffs and a strategic withdrawal from unprofitable product lines, while focusing on strengthening its position in the Canadian market [2][3][4]. Financial Performance - For Q4 2025, revenues were $32.4 million, down from $44.8 million in Q4 2024, attributed to reduced U.S. sales and strategic product line withdrawals [2]. - Full-year revenues totaled $161.8 million, a decrease from $207.0 million in 2024, despite higher average selling prices [3]. - Gross profit fell to $9.5 million from $11.8 million, and adjusted EBITDA decreased to $3.0 million from $4.3 million, reflecting lower sales and production volumes [3]. - The company implemented cost-management initiatives, including a 27% workforce reduction, to address the impact of reduced volumes [3]. Dividend Policy - The company paid quarterly dividends of $0.015 per share in 2025 but has decided to suspend dividend payments in 2026 due to ongoing economic uncertainty [4]. Operational Insights - The company reported an operating loss of $2.957 million for Q4 2025, compared to a loss of $3.157 million in Q4 2024, and a full-year loss of $6.443 million, up from $3.125 million in 2024 [5][6]. - Total assets as of December 31, 2025, were $154.88 million, down from $168.82 million in 2024 [6]. Market Focus - Tree Island Steel aims to strengthen its position in the Canadian market while navigating challenges posed by U.S. tariffs [4]. - The company produces a variety of wire products for industrial, residential, commercial, and agricultural applications, marketed under several brand names [8].
Firm Capital Mortgage Investment Corporation Announces Q4 2025 Results And Declares Monthly Cash Dividends For April, May And June 2026
Globenewswire· 2026-03-13 02:33
Core Viewpoint - Firm Capital Mortgage Investment Corporation reported mixed financial results for the year ended December 31, 2025, with a decrease in net income for the fourth quarter but an overall increase for the year, alongside a reduction in the investment portfolio size and changes in dividend distribution [2][10]. Financial Performance - For Q4 2025, net income decreased by 4.7% to $8,735,874 compared to $9,164,362 in Q4 2024 [2] - For the full year 2025, net income increased by 6.4% to $37,471,563 from $35,228,450 in 2024 [2] - Basic weighted average earnings per share for Q4 2025 was $0.238, down from $0.249 in Q4 2024 [3] - For the year 2025, earnings per share rose to $1.020 from $0.996 in 2024 [3] Investment Portfolio - The investment portfolio decreased by 6.5% to $610.9 million as of December 31, 2025, from $653.8 million a year earlier [4] - New investment funding for 2025 was $278.0 million, down from $329.0 million in 2024, while repayments increased to $320.7 million from $265.3 million [4] - The portfolio consisted of 242 investments, down from 286 in 2024, with an average investment size of approximately $2.5 million [4][8] - Conventional first mortgages made up 95.2% of the total investment portfolio, an increase from 92.4% in 2024 [8] Allowance for Expected Credit Losses - The allowance for expected credit losses and fair value adjustments was $36.8 million as of December 31, 2025, up from $29.6 million in 2024 [5] - This included $29.1 million for estimated shortfalls between investment balances and recoverable amounts, and a collective allowance balance of $3.2 million [5] Dividend Distribution - The board declared a monthly cash dividend of $0.078 per common share, with total dividends for 2025 amounting to $37,471,563 or $1.020 per share, compared to $35,215,038 or $0.9920 per share in 2024 [6][10] - The number of common shares outstanding increased slightly to 36,738,425 from 36,734,405 in the previous year [10] Company Overview - Firm Capital Mortgage Investment Corporation focuses on mortgage investments through a non-bank lender, aiming to preserve shareholders' equity while providing stable monthly dividends [11]
Firm Capital Mortgage Investment Corporation Announces Q4 2025 Results And Declares Monthly Cash Dividends For April, May And June 2026
Globenewswire· 2026-03-13 02:33
Core Viewpoint - Firm Capital Mortgage Investment Corporation reported mixed financial results for the year ended December 31, 2025, with a decrease in net income for the fourth quarter but an overall increase for the year, alongside a reduction in the investment portfolio size and changes in dividend distribution [2][9]. Financial Performance - For Q4 2025, net income decreased by 4.7% to $8,735,874 compared to $9,164,362 in Q4 2024 [2] - For the full year 2025, net income increased by 6.4% to $37,471,563 from $35,228,450 in 2024 [2] - Basic weighted average earnings per share for Q4 2025 was $0.238, down from $0.249 in Q4 2024 [3] - Basic weighted average earnings per share for the year 2025 was $1.020, compared to $0.996 in 2024 [3] Investment Portfolio - The investment portfolio decreased by 6.5% to $610.9 million as of December 31, 2025, from $653.8 million a year earlier [4] - New investment funding for 2025 was $278.0 million, down from $329.0 million in 2024, while repayments increased to $320.7 million from $265.3 million [4] - The portfolio consisted of 242 investments, down from 286 in 2024, with an average gross investment size of approximately $2.5 million [4][7] - Conventional first mortgages made up 95.2% of the total investment portfolio, an increase from 92.4% in 2024 [7] Allowance for Expected Credit Losses - The allowance for expected credit losses and fair value adjustments was $36.8 million as of December 31, 2025, up from $29.6 million in 2024 [5] - This included $29.1 million for estimated shortfalls between investment balances and recoverable amounts, and a collective allowance balance of $3.2 million [5] Dividend Distribution - The board declared a monthly cash dividend of $0.078 per common share, with total dividends declared for 2025 amounting to $37,471,563 or $1.020 per share, compared to $35,215,038 or $0.9920 per share in 2024 [6][9] - The number of common shares outstanding increased slightly to 36,738,425 as of December 31, 2025, from 36,734,405 in 2024 [9] Company Overview - Firm Capital Mortgage Investment Corporation focuses on mortgage investments through a non-bank lender, aiming to preserve shareholders' equity while providing stable monthly dividends [10]
ROSEN, LEADING TRIAL ATTORNEYS, Encourages Soleno Therapeutics, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - SLNO
TMX Newsfile· 2026-03-13 02:33
Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of common stock of Soleno Therapeutics, Inc. for the period between March 26, 2025, and November 4, 2025, due to alleged misleading statements regarding the safety and commercial viability of its product DCCR [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Soleno made false or misleading statements about the safety of DCCR, particularly concerning issues of excess fluid retention in clinical trial participants [5]. - It is alleged that the administration of DCCR posed greater safety risks than disclosed, affecting its commercial viability and leading to potential adverse events post-launch [5]. - Investors are encouraged to join the class action to seek compensation without upfront costs through a contingency fee arrangement [2][3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. - The firm has a history of significant recoveries for investors, including over $438 million in 2019 alone, and has been recognized for its performance in securities class action settlements [4]. - Investors can join the class action by submitting a form or contacting the firm directly for more information [3][6].
Ulta Beauty AI Personalization Drives Double-Digit eCommerce Surge
PYMNTS.com· 2026-03-13 02:33
Core Insights - Ulta Beauty's financial performance in the fourth quarter exceeded expectations, driven by digital upgrades and artificial intelligence [1][7] - The company reported a year-over-year increase of 11.8% in net sales and 5.8% in comparable sales during the fourth quarter [2] - Comparable sales growth was observed across both store and digital channels, with low-single-digit growth in stores and mid-teen growth in eCommerce [2] Financial Performance - For fiscal 2025, Ulta Beauty recorded comparable sales growth across all product categories and gained market share in both mass and prestige beauty segments [3] - The company anticipates net sales growth of 6% to 7% and comparable sales growth of 2.5% to 3.5% for fiscal 2026 [10] Digital and AI Enhancements - Digital upgrades included features like "Replenish & Save," an auto-replenishment subscription offering 5% savings and free shipping, and a "Wish List" feature [3] - AI in the automated marketing engine enabled personalized content delivery, enhancing customer engagement [7][8] Product Offerings - Ulta Beauty launched the UB Marketplace, a curated third-party platform that expands the range of beauty, wellness, and adjacent lifestyle categories available to customers [9]
WeRide Robotaxi Launches on Tencent Mobility Service, Expanding Access to Driverless Rides Across China
Globenewswire· 2026-03-13 02:30
Core Viewpoint - WeRide has expanded its strategic partnership with Tencent Cloud to enhance the integration of its autonomous driving technology with Tencent's mobility services, aiming to provide safer and more reliable driverless transportation to a broader user base [1][7]. Group 1: Partnership and Integration - WeRide's Robotaxis are now integrated into the Tencent Mobility Service mini program on WeChat, allowing users to book and pay for rides directly through the app [2]. - This collaboration strengthens the connection between WeRide's autonomous driving technology and Tencent's mobility service ecosystem, facilitating easier access to driverless transportation [2][4]. - The partnership is a continuation of their previous agreements, which focused on promoting large-scale commercial operations of Level 4 Robotaxi services [7]. Group 2: Service Expansion and User Experience - The Robotaxi service will soon be available on Tencent Maps, further broadening the options for autonomous ride-hailing [5]. - Currently, the service is being launched in Guangzhou, with plans for gradual expansion to other cities [6]. - Users can easily book rides through WeChat by selecting the "Autonomous Driving – WeRide" option when a nearby Robotaxi stop is available [6]. Group 3: Operational Growth and Future Goals - WeRide's global Robotaxi fleet exceeded 1,023 vehicles as of January 2026, with a target of over 2,600 vehicles by the end of 2026 and tens of thousands by 2030 [11]. - The company aims to deepen cooperation with partners like Tencent Cloud to accelerate the global commercialization of autonomous driving [11]. - WeRide has launched fully driverless commercial operations in multiple cities, including Guangzhou and Beijing, and is expanding its services internationally [8][10].
Miller Value Partners Dumps 72,000 Buckle Inc. Shares for $4.2 Million
The Motley Fool· 2026-03-13 02:11
On February 17, 2026, Miller Value Partners, LLC, disclosed in a U.S. Securities and Exchange Commission filing that it sold out its entire stake in Buckle (BKE +0.36%).What happenedAccording to an SEC filing dated February 17, 2026, Miller Value Partners, LLC, sold all 72,000 shares of Buckle during the fourth quarter of 2025, fully exiting the position. The estimated transaction value was $4.22 million, calculated using the quarter’s average share price. The net position change, representing the quarter-e ...
Lotus Creek Exploration Inc. Announces January Operational Update to Shareholders and Stock Option Grant
TMX Newsfile· 2026-03-13 02:10
Core Viewpoint - Lotus Creek Exploration Inc. has released its January Operational Update to Shareholders and approved the grant of stock options to certain Directors and Officers [1]. Group 1: Operational Update - The January Operational Update to Shareholders has been posted on the Company's website [1]. Group 2: Stock Options - The Board of Directors has approved the grant of 137,700 stock options [1]. - The stock options are exercisable at a price of $3.02 per common share [1]. - The options will vest on March 9, 2029, and expire 30 business days following the date of vesting [1].