The musician Grimes claims that her ex-boyfriend Elon Musk, the “love of my life,” has become “unrecognizable” to her — and not because he became Donald Trump’s leading cheerleader in the final months of his campaign. Grimes’ concerns have to do with Musk’s apparent unwillingness to cooperatively co-parent the three children they share together, . The singer dated Musk from 2018 to 2022, and they share two sons, X Æ A-Xii and Techno Mechanicus, and a daughter, Exa Dark Sideræl. On Wednesday, Grimes , the platform that Musk owns, to explain how their custody battle adversely affected her creative output and family life, the Daily Beast said. The custody issue was reportedly was resolved on Wednesday, but the details are unclear. The singer, whose real name is Claire Boucher, said she had “spent a year locked in battle in a state with terrible mothers rights.” She presumably was referring to Texas, where Musk, the world’s richest man, now lives and operates his SpaceX, Tesla and other companies. Grimes said she only had “a fraction of his resources” to fight for access to her children, while her Instagram posts and modeling were “used as reasons I shouldn’t have my kids.” Grimes added that she has been “fighting and detaching from the love of my life as he becomes unrecognizable to me ... all the while I didn’t see one of my babies for 5 months.” “Having babies rips you apart and puts you back together,” Grimes said. “Babies are ten thousand philosophy classes of (expletive) you can only learn from that experience.” In another post Grimes wrote that she was “going bankrupt” from the custody suit. “I just slept and cried every minute I wasn’t explicitly fighting for my kids during that year,” she said. Grimes teased that she could say a lot more, but said she’s limited in what she discloses publicly. She said that most of her experiences in recent years “should remain behind closed doors.” that the clerk’s office in Travis County, Texas, where Musk filed suit, confirmed on Wednesday that a judge issued a final order, back in August. The office said the status was listed as “closed” but declined to provide further details. As the Daily Beast said, Musk has not responded to Grimes’ X posts, even though he seems to spend much of his time on X. Certainly, he’s been busy, holding court at Trump’s Mar-a-Lago resort and hatching plans to drastically reduce federal government spending as the co-lead of the newly-formed Department of Government Efficiency. Then again, Musk also has been ripping off posts almost hourly, many about his SpaceX rockets but also about his plans to cut hundreds of thousands of government jobs on Trump’s behalf and his belief that he’s America’s free-speech prophet. Musk also regularly expresses his concerns about plummeting birth rates around the world, one of the reasons he has become almost evangelistic about fathering as many children as possible. He’s currently known to have fathered at least 11 children with three different women, including Grimes. Musk was reported to be building in an upscale residential area of Austin, Texas. The New York Times reported in October that Musk hopes one day that all 11 of his children and their mothers can live there or at least stop by. The property appears to reflect Musk’s pronatalist ambitions, the New York Times reported. Pronatalists, from both the Christian right and Silicon Valley, believe that people should have as many children as possible, although they differ on the means of reproduction. Given Musk’s custody battle with Grimes, it’s hard to imagine that she’d want to be part of the compound, though her three children probably spend a lot of time there. The ex-couple’s oldest son, 4-year-old X, also has been seen in his father’s company quite a bit. after he was photographed posing with the boy in a celebratory Trump family photo on election night.The two parties that have dominated Irish politics for a century have fallen just short of the combined number of TDs required for a Dail majority. A range of independent TDs are contemplating the prospect of entering Ireland’s next coalition government as Fianna Fail and Fine Gael consider ways to secure a solid majority. Three long days of counting in the General Election finished late on Monday night when the final two seats were declared in the constituency of Cavan-Monaghan. Fianna Fail was the clear winner of the election, securing 48 of the Dail parliament’s 174 seats. Sinn Fein took 39 and Fine Gael 38. Labour and the Social Democrats both won 11 seats; People Before Profit-Solidarity took three; Aontu secured two; and the Green Party retained only one of its 12 seats. Independents and others accounted for 21 seats. The return of a Fianna Fail/Fine Gael-led coalition is now highly likely. However, their combined seat total of 86 leaves them just short of the 88 needed for a majority in the Dail. While the two centrist parties that have dominated Irish politics for a century could look to strike a deal with one of the Dail’s smaller centre-left parties, such as the Social Democrats or Labour, a more straightforward route to a majority could be achieved by securing the support of several independent TDs. For Fianna Fail leader Micheal Martin and current taoiseach and Fine Gael leader Simon Harris, wooing like-minded independents would be likely to involve fewer policy concessions, and financial commitments, than would be required to convince another party to join the government benches. Longford-Westmeath independent TD Kevin “Boxer” Moran, who served in a Fine Gael-led minority government between 2017 and 2020, expressed his willingness to listen to offers to join the new coalition in Dublin. “Look, my door’s open,” he told RTE. “Someone knocks, I’m always there to open it.” Marian Harkin, an independent TD for Sligo-Leitrim, expressed her desire to participate in government as she noted that Fianna Fail and Fine Gael were within “shouting distance” of an overall majority. “That means they will be looking for support, and I certainly will be one of those people who will be speaking to them and talking to them and negotiating with them, and I’m looking forward to doing that, because that was the reason that I ran in the first place,” she said. Meanwhile, the Social Democrats and Irish Labour Party both appear cautious about the prospect of an alliance with Fianna Fail and Fine Gael. They will no doubt be mindful of the experience of the Green Party, the junior partner in the last mandate. The Greens experienced near wipeout in the election, retaining only one of their 12 seats. Sinn Fein appears to currently have no realistic route to government, given Fianna Fail and Fine Gael’s ongoing refusal to share power with the party. Despite the odds being stacked against her party, Sinn Fein president Mary Lou McDonald contacted the leaders of the Social Democrats and Labour on Monday to discuss options. Earlier, Fianna Fail deputy leader and outgoing Finance Minister Jack Chambers predicted that a new coalition government would not be in place before Christmas. Mr Chambers said planned talks about forming an administration required “time and space” to ensure that any new government will be “coherent and stable”. After an inconclusive outcome to the 2020 election, it took five months for Fianna Fail, Fine Gael and the Greens to strike the last coalition deal. Mr Chambers said he did not believe it would take that long this time, as he noted the Covid-19 pandemic was a factor in 2020, but he also made clear it would not be a swift process. He said he agreed with analysis that there was no prospect of a deal before Christmas. “I don’t expect a government to be formed in mid-December, when the Dail is due to meet on December 18, probably a Ceann Comhairle (speaker) can be elected, and there’ll have to be time and space taken to make sure we can form a coherent, stable government,” he told RTE. “I don’t think it should take five months like it did the last time – Covid obviously complicated that. But I think all political parties need to take the time to see what’s possible and try and form a stable government for the Irish people.” Fine Gael minister of state Peter Burke said members of his parliamentary party would have to meet to consider their options before giving Mr Harris a mandate to negotiate a new programme for government with Fianna Fail. “It’s important that we have a strong, stable, viable government, whatever form that may be, to ensure that we can meet the challenges of our society, meet the challenges in terms of the economic changes that are potentially going to happen,” he told RTE. Despite being set to emerge with the most seats, it has not been all good news for Fianna Fail. The party’s outgoing Health Minister Stephen Donnelly became one of the biggest casualties of the election when he lost his seat in Wicklow in the early hours of Monday morning. Mr Donnelly was always predicted to face a fight in the constituency after boundary changes saw it reduced from five to four seats. If it is to be a reprise of the Fianna Fail/Fine Gael governing partnership of the last mandate, one of the major questions is around the position of taoiseach and whether the parties will once again take turns to hold the Irish premiership during the lifetime of the new government. The outcome in 2020 saw the parties enter a coalition on the basis that the holder of the premier position would be exchanged midway through the term. Fianna Fail leader Mr Martin took the role for the first half of the mandate, with Leo Varadkar taking over in December 2022. Current Fine Gael leader Mr Harris succeeded Mr Varadkar as taoiseach when he resigned from the role earlier this year. However, this time Fianna Fail has significantly increased its seat lead over Fine Gael, compared with the last election when there were only three seats between the parties. The size of the disparity in party numbers is likely to draw focus on the rotating taoiseach arrangement, raising questions as to whether it will be re-run in the next coalition and, if it is, on what terms. On Sunday, Simon Coveney, a former deputy leader of Fine Gael, said a coalition that did not repeat the rotating taoiseach arrangement in some fashion would be a “difficult proposition” for his party. Meanwhile, Fine Gael minister Paschal Donohoe said he would be making the case for Mr Harris to have another opportunity to serve as taoiseach. On Monday, Mr Chambers said while his party would expect to lead the government it would approach the issue of rotating the taoiseach’s role on the basis of “mutual respect” with Fine Gael. “I think the context of discussions and negotiations will be driven by mutual respect, and that’s the glue that will drive a programme for government and that’s the context in which we’ll engage,” he said. On Monday, Labour leader Ivana Bacik reiterated her party’s determination to forge an alliance with fellow centre-left parties with the intention of having a unified approach to the prospect of entering government. Asked if Labour was prepared to go into government with Fianna Fail and Fine Gael on its own, she told RTE: “No, not at this stage. We are absolutely not willing to do that. “We want to ensure there’s the largest number of TDs who share our vision and our values who want to deliver change on the same basis that we do.” The Social Democrats have been non-committal about any potential arrangement with Fianna Fail and Fine Gael, and have restated a series of red lines they would need to achieve before considering taking a place in government. Leader Holly Cairns, who gave birth to a daughter on polling day on Friday, said in a statement: “The party is in a very strong position to play an important role in the next Dail. In what position, government or opposition, remains to be seen.” Fianna Fail secured the most first preference votes in Friday’s proportional representation election, taking 21.9% to Fine Gael’s 20.8%. Sinn Fein came in third on 19%. While Sinn Fein’s vote share represented a marked improvement on its disappointing showing in June’s local elections in Ireland, it is still significantly down on the 24.5% poll-topping share it secured in the 2020 general election. The final breakdown of first preferences also flipped the result of Friday night’s exit poll, which suggested Sinn Fein was in front on 21.1%, with Fine Gael on 21% and Fianna Fail on 19.5%.
The Times view on record numbers out of work: Sick Man of Europe
Title: A Heartwarming Story of a Teenage Girl with Kidney Failure, Receiving Love and Life from Her ParentsREDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 9, 2024-- Zuora, Inc. (NYSE: ZUO), a leading monetization suite for modern business, today announced financial results for its fiscal third quarter ended October 31, 2024. Third Quarter Fiscal 2025 Financial Results: Descriptions of our non-GAAP financial measures are contained in the section titled "Explanation of Non-GAAP Financial Measures" below and reconciliations of GAAP and non-GAAP financial measures are contained in the tables below. Proposed Acquisition; Conference Call and Guidance On October 17, 2024, we announced that Zuora entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with an affiliate of GIC Pte. Ltd. (“GIC”). The transaction is valued at $1.7 billion, with Silver Lake and GIC to acquire all outstanding shares of Zuora common stock for $10.00 per share in cash. The acquisition is expected to close in the first calendar quarter of 2024, subject to customary closing conditions and approvals, including the receipt of the required regulatory approvals. Upon completion of the transaction, Zuora will become a privately held company. Given the proposed acquisition of Zuora, we will not be holding a conference call or live webcast to discuss Zuora's third quarter of fiscal 2025 financial results, we will not be providing any forward looking guidance, and we are withdrawing all previously provided goals, outlook, and guidance. Key Operational and Financial Metrics: Explanation of Key Operational and Financial Metrics: Annual Contract Value (ACV) . We define ACV as the subscription revenue we would contractually expect to recognize from a customer over the next twelve months, assuming no increases or reductions in their subscriptions. We define the number of customers at the end of any particular period as the number of parties or organizations that have entered into a distinct subscription contract with us and for which the term has not ended. Each party with whom we have entered into a distinct subscription contract is considered a unique customer, and in some cases, there may be more than one customer within a single organization. Dollar-based Retention Rate (DBRR) . We calculate DBRR as of a period end by starting with the sum of the ACV from all customers as of twelve months prior to such period end, or prior period ACV. We then calculate the sum of the ACV from these same customers as of the current period end, or current period ACV. Current period ACV includes any upsells and also reflects contraction or attrition over the trailing twelve months but excludes revenue from new customers added in the current period. We then divide the current period ACV by the prior period ACV to arrive at our dollar-based retention rate. Annual Recurring Revenue (ARR). ARR represents the annualized recurring value at the time of initial booking or contract modification for all active subscription contracts at the end of a reporting period. ARR excludes the value of non-recurring revenue such as professional services revenue as well as contracts with new customers with a term of less than one year. ARR should be viewed independently of revenue and deferred revenue, and is not intended to be a substitute for, or combined with, any of these items. ARR growth is calculated by dividing the ARR as of a period end by the ARR for the corresponding period end of the prior fiscal year. Explanation of Non-GAAP Financial Measures: In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain non-GAAP financial measures including: non-GAAP cost of subscription revenue; non-GAAP subscription gross margin; non-GAAP cost of professional services revenue; non-GAAP professional services gross margin; non-GAAP gross profit; non-GAAP gross margin; non-GAAP income from operations; non-GAAP operating margin; non-GAAP net income; non-GAAP net income per share; and adjusted free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. We use non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our Board of Directors concerning our financial performance. We believe these non-GAAP measures provide investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of our operating results. We also believe these non-GAAP measures are useful in evaluating our operating performance compared to that of other companies in our industry, as they generally eliminate the effects of certain items that may vary for different companies for reasons unrelated to overall operating performance. We exclude the following items from one or more of our non-GAAP financial measures: Additionally, we disclose "adjusted free cash flow", which is a non-GAAP measure that includes adjustments to operating cash flows for cash impacts related to Shareholder matters and Acquisition-related expenses described above, and net purchases of property and equipment. We include the impact of net purchases of property and equipment in our adjusted free cash flow calculation because we consider these capital expenditures to be a necessary component of our ongoing operations. We believe this measure is meaningful to investors because management reviews cash flows generated from operations excluding such expenditures that are not related to our ongoing operations. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures. Forward-Looking Statements: This press release contains forward-looking statements that involve a number of risks and uncertainties. Words such as “believes,” “may,” “will,” “determine,” “estimates,” “potential,” “continues,” “anticipates,” “intends,” “expects,” “could,” “would,” “projects,” “plans,” “targets,” “strategy,” “likely,” and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this release include statements regarding the proposed acquisition of Zuora, including the expected timing of the closing of the acquisition, and expectations for Zuora following the completion of the acquisition. Forward-looking statements are based on management's expectations as of the date of this filing and are subject to a number of risks, uncertainties and assumptions, 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 detailed in our Form 10-Q filed with the Securities and Exchange Commission on August 29, 2024 as well as other documents that may be filed by us from time to time with the Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the possibility that the closing conditions to the proposed acquisition are not satisfied (or waived), including the risk that required approvals from Zuora’s stockholders for the proposed acquisition or required regulatory approvals to consummate the acquisition are not obtained in a timely manner (or at all); the outcome of the current complaint and any potential litigation relating to the proposed acquisition; uncertainties as to the timing of the consummation of the proposed acquisition; the ability of each party to consummate the proposed acquisition; our ability to attract new customers and retain and expand sales to existing customers; our ability to manage our future revenue and profitability plans effectively; adoption of monetization platform software and related solutions, as well as consumer adoption of products and services that are provided through such solutions; our ability to develop and release new products and services, or successful enhancements, new features and modifications; challenges related to growing our relationships with strategic partners; loss of key employees; our ability to compete in our markets; adverse impacts on our business and financial condition due to macroeconomic or market conditions; the impact of actions to improve operational efficiencies and operating costs; our history of net losses and ability to achieve or sustain profitability; market acceptance of our products; the success of our product development efforts; risks associated with currency exchange rate fluctuations; risks associated with our debt obligations; successful deployment of our solutions by customers after entering into a subscription agreement with us; the success of our sales and product initiatives; our security measures; our ability to adequately protect our intellectual property; interruptions or performance problems; litigation and other shareholder related costs; the anticipated benefits of acquisitions and ability to integrate operations and technology of any acquired company; geopolitical conflicts or destabilizing events; other business effects, including those related to industry, market, economic, political, regulatory and global health conditions and other risks and uncertainties. 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. Important Information and Where to Find It In connection with the proposed acquisition, Zuora has filed with the Securities and Exchange Commission (the “SEC”) a proxy statement in preliminary form on November 25, 2024, a definitive version of which will be mailed or otherwise provided to its stockholders. The Company and affiliates of the Company have jointly filed a transaction statement on Schedule 13E-3 (the Schedule 13E-3). Zuora may also file other documents with the SEC regarding the potential transaction. BEFORE MAKING ANY VOTING DECISION, ZUORA’S STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND THE SCHEDULE 13E-3 IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED WITH THE SEC AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS THERETO IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the proxy statement, the Schedule 13E-3 and other documents that Zuora files with the SEC from the SEC’s website at www.sec.gov and Zuora’s website at investor.zuora.com . In addition, the proxy statement, the Schedule 13E-3 and other documents filed by Zuora with the SEC (when available) may be obtained from Zuora free of charge by directing a request to Zuora’s Investor Relations at investorrelations@zuora.com . Participants in the Solicitation Zuora and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from Zuora’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed to be participants in the solicitation of the stockholders of Zuora in connection with the proposed transaction, including a description of their respective direct or indirect interests, by security holdings or otherwise will be set forth in the proxy statement and Schedule 13E-3 and other materials to be filed with the SEC. You may also find additional information about Zuora’s directors and executive officers in Zuora’s proxy statement for its 2024 Annual Meeting of Stockholders, which was filed with the SEC on May 16, 2024 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected in Zuora’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You can obtain free copies of these documents from Zuora using the contact information above. About Zuora, Inc. Zuora provides a leading monetization suite to build, run and grow a modern business through a dynamic mix of usage-based models, subscription bundles and everything in between. From pricing and packaging, to billing, payments and revenue accounting, Zuora’s flexible, modular software platform is designed to help companies evolve monetization strategies with customer demand. More than 1,000 customers around the world, including BMC Software, Box, Caterpillar, General Motors, The New York Times, Schneider Electric and Zoom use Zuora’s leading combination of technology and expertise to turn recurring relationships and recurring revenue into recurring growth. Zuora is headquartered in Silicon Valley with offices in the Americas, EMEA and APAC. To learn more, please visit zuora.com . © 2024 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, Subscription Economy Index, Zephr, and Subscription Experience Platform are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release. SOURCE: ZUORA, INC. ZUORA, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands, except per share data) (unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Revenue: Subscription $ 105,253 $ 98,048 $ 308,263 $ 283,232 Professional services 11,676 11,801 33,831 37,760 Total revenue 116,929 109,849 342,094 320,992 Cost of revenue: Subscription 1 23,954 20,378 67,207 62,304 Professional services 1 14,383 14,650 43,483 47,851 Total cost of revenue 38,337 35,028 110,690 110,155 Gross profit 78,592 74,821 231,404 210,837 Operating expenses: Research and development 1 26,833 27,504 76,853 79,428 Sales and marketing 1 36,597 40,245 108,579 124,488 General and administrative 1 26,880 15,893 71,351 54,160 Total operating expenses 90,310 83,642 256,783 258,076 Loss from operations (11,718 ) (8,821 ) (25,379 ) (47,239 ) Change in fair value of debt derivative and warrant liabilities (20,174 ) 6,997 (29,115 ) 2,241 Interest expense (7,045 ) (5,610 ) (20,781 ) (14,604 ) Interest and other income (expense), net 6,505 2,272 19,988 13,639 Loss before income taxes (32,432 ) (5,162 ) (55,287 ) (45,963 ) Income tax (benefit) provision (226 ) 340 (2,152 ) 1,396 Net loss (32,206 ) (5,502 ) (53,135 ) (47,359 ) Comprehensive loss: Foreign currency translation adjustment 462 (696 ) 386 (1,383 ) Unrealized gain (loss) on available-for-sale securities 248 (18 ) 63 494 Comprehensive loss $ (31,496 ) $ (6,216 ) $ (52,686 ) $ (48,248 ) Net loss per share, basic and diluted $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Weighted-average shares outstanding used in calculating net loss per share, basic and diluted 152,263 141,488 149,457 138,789 (1) Stock-based compensation expense was recorded in the following cost and expense categories: Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of subscription revenue $ 2,331 $ 2,350 $ 6,291 $ 6,889 Cost of professional services revenue 2,598 2,747 7,359 8,997 Research and development 7,697 7,165 21,680 20,661 Sales and marketing 7,613 8,191 20,609 24,857 General and administrative 4,694 5,648 13,163 16,569 Total stock-based compensation expense $ 24,933 $ 26,101 $ 69,102 $ 77,973 ZUORA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) October 31, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 277,615 $ 256,065 Short-term investments 280,909 258,120 Accounts receivable, net 82,414 124,602 Deferred commissions, current portion 15,995 15,870 Prepaid expenses and other current assets 25,183 23,261 Total current assets 682,116 677,918 Property and equipment, net 27,403 25,961 Operating lease right-of-use assets 20,591 22,462 Purchased intangibles, net 23,146 10,082 Deferred commissions, net of current portion 24,941 27,250 Goodwill 73,903 56,657 Other assets 4,972 3,506 Total assets $ 857,072 $ 823,836 Liabilities and stockholders’ equity Current liabilities: Accounts payable $ 761 $ 3,161 Accrued expenses and other current liabilities 45,167 32,157 Accrued employee liabilities 29,860 37,722 Deferred revenue, current portion 177,436 199,615 Operating lease liabilities, current portion 7,030 6,760 Total current liabilities 260,254 279,415 Long-term debt 368,348 359,525 Deferred revenue, net of current portion 860 2,802 Operating lease liabilities, net of current portion 32,573 37,100 Deferred tax liabilities 4,066 3,725 Other long-term liabilities 6,781 7,582 Total liabilities 672,882 690,149 Stockholders’ equity: Class A common stock 15 14 Class B common stock 1 1 Additional paid-in capital 1,067,329 964,141 Accumulated other comprehensive loss (410 ) (859 ) Accumulated deficit (882,745 ) (829,610 ) Total stockholders’ equity 184,190 133,687 Total liabilities and stockholders’ equity $ 857,072 $ 823,836 ZUORA, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Nine Months Ended October 31, 2024 2023 Cash flows from operating activities: Net loss $ (53,135 ) $ (47,359 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation, amortization and accretion 14,715 13,684 Stock-based compensation 69,102 77,973 Provision for credit losses 2,117 457 Amortization of deferred commissions 13,946 14,415 Reduction in carrying amount of right-of-use assets 3,470 4,876 Change in fair value of debt derivative and warrant liabilities 29,115 (2,241 ) Other (2,418 ) 2,630 Changes in operating assets and liabilities: Accounts receivable 40,149 12,476 Prepaid expenses and other assets (2,657 ) 878 Deferred commissions (12,107 ) (12,013 ) Accounts payable (2,529 ) (634 ) Accrued expenses and other liabilities 6,843 (82,904 ) Accrued employee liabilities (7,986 ) 509 Deferred revenue (24,439 ) (7,461 ) Operating lease liabilities (7,476 ) (10,962 ) Net cash provided by (used in) operating activities 66,710 (35,676 ) Cash flows from investing activities: Purchases of property and equipment (9,252 ) (6,913 ) Purchases of short-term investments (240,093 ) (66,665 ) Maturities of short-term investments 222,279 175,128 Cash paid for acquisition, net of cash acquired (24,786 ) (4,524 ) Net cash (used in) provided by investing activities (51,852 ) 97,026 Cash flows from financing activities: Proceeds from issuance of common stock upon exercise of stock options 3,372 1,000 Proceeds from issuance of common stock under employee stock purchase plan 4,481 4,765 Payment for taxes related to net share settlement of stock options (1,547 ) — Proceeds from issuance of convertible senior notes, net of issuance costs — 145,861 Net cash provided by financing activities 6,306 151,626 Effect of exchange rates on cash and cash equivalents 386 (1,383 ) Net increase in cash and cash equivalents 21,550 211,593 Cash and cash equivalents, beginning of period 256,065 203,239 Cash and cash equivalents, end of period $ 277,615 $ 414,832 ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (in thousands, except percentages) (unaudited) Subscription Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of cost of subscription revenue: GAAP cost of subscription revenue $ 23,954 $ 20,378 $ 67,207 $ 62,304 Less: Stock-based compensation (2,331 ) (2,350 ) (6,291 ) (6,889 ) Amortization of acquired intangibles (1,164 ) (607 ) (2,706 ) (2,083 ) Workforce reductions (228 ) — (796 ) (38 ) Acquisition-related expenses (12 ) — (103 ) — Asset impairment — (439 ) — (439 ) Shareholder matters — — (20 ) — Non-GAAP cost of subscription revenue $ 20,219 $ 16,982 $ 57,291 $ 52,855 GAAP subscription gross margin 77 % 79 % 78 % 78 % Non-GAAP subscription gross margin 81 % 83 % 81 % 81 % Professional Services Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of cost of professional services revenue: GAAP cost of professional services revenue $ 14,383 $ 14,650 $ 43,483 $ 47,851 Less: Stock-based compensation (2,598 ) (2,747 ) (7,359 ) (8,997 ) Acquisition-related expenses (22 ) — (22 ) — Shareholder matters — — (28 ) — Workforce reductions — — (5 ) (46 ) Non-GAAP cost of professional services revenue $ 11,763 $ 11,903 $ 36,069 $ 38,808 GAAP professional services gross margin (23 )% (24 )% (29 )% (27 )% Non-GAAP professional services gross margin (1 )% (1 )% (7 )% (3 )% ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (in thousands, except percentages) (unaudited) Total Gross Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of gross profit: GAAP gross profit $ 78,592 $ 74,821 $ 231,404 $ 210,837 Add: Stock-based compensation 4,929 5,097 13,650 15,886 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 228 — 801 84 Acquisition-related expenses 34 — 125 — Asset impairment — 439 — 439 Shareholder matters — — 48 — Non-GAAP gross profit $ 84,947 $ 80,964 $ 248,734 $ 229,329 GAAP gross margin 67 % 68 % 68 % 66 % Non-GAAP gross margin 73 % 74 % 73 % 71 % Operating (Loss) Income and Operating Margin Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of (loss) income from operations: GAAP loss from operations $ (11,718 ) $ (8,821 ) $ (25,379 ) $ (47,239 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP income from operations $ 25,100 $ 15,990 $ 69,287 $ 31,620 GAAP operating margin (10 )% (8 )% (7 )% (15 )% Non-GAAP operating margin 21 % 15 % 20 % 10 % ZUORA, INC. RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED) (in thousands, except per share data) (unaudited) Net (Loss) Income and Net (Loss) Income Per Share Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of net (loss) income: GAAP net loss $ (32,206 ) $ (5,502 ) $ (53,135 ) $ (47,359 ) Add: Stock-based compensation 24,933 26,101 69,102 77,973 Change in fair value of debt derivative and warrant liabilities 20,174 (6,997 ) 29,115 (2,241 ) Acquisition-related expenses 10,299 19 17,100 211 Amortization of acquired intangibles 1,164 607 2,706 2,083 Workforce reductions 241 — 1,518 265 Shareholder matters 181 (3,508 ) 4,240 (3,265 ) Asset impairment — 1,592 — 1,592 Non-GAAP net income $ 24,786 $ 12,312 $ 70,646 $ 29,259 GAAP net loss per share, basic and diluted 1 $ (0.21 ) $ (0.04 ) $ (0.36 ) $ (0.34 ) Non-GAAP net income per share, basic and diluted 1 $ 0.16 $ 0.09 $ 0.47 $ 0.21 (1) For the three months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 152.3 million and 141.5 million basic and diluted weighted-average shares of common stock, respectively. For the nine months ended October 31, 2024 and 2023, GAAP and Non-GAAP net (loss) income per share are calculated based upon 149.5 million and 138.8 million basic and diluted weighted-average shares of common stock, respectively. Adjusted Free Cash Flow Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Reconciliation of adjusted free cash flow: Net cash provided by (used in) operating activities (GAAP) $ 22,408 $ (55,657 ) $ 66,710 $ (35,676 ) Add: Acquisition-related expenses 5,587 28 7,300 135 Shareholder matters 824 71,377 4,379 72,130 Less: Purchases of property and equipment (3,330 ) (3,075 ) (9,252 ) (6,913 ) Adjusted free cash flow (non-GAAP) $ 25,489 $ 12,673 $ 69,137 $ 29,676 Net cash provided by (used in) investing activities (GAAP) $ 18,999 $ 2,005 $ (51,852 ) $ 97,026 Net cash (used in) provided by financing activities (GAAP) $ (1,295 ) $ 145,899 $ 6,306 $ 151,626 View source version on businesswire.com : https://www.businesswire.com/news/home/20241209614914/en/ CONTACT: Investor Relations Contact: Luana Wolk investorrelations@zuora.com 650-419-1377Media Relations Contact: Margaret Juhnke press@zuora.com 619-609-3919 KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE PAYMENTS ACCOUNTING PROFESSIONAL SERVICES TECHNOLOGY ELECTRONIC COMMERCE FINTECH OTHER TECHNOLOGY SOURCE: Zuora, Inc. Copyright Business Wire 2024. PUB: 12/09/2024 04:10 PM/DISC: 12/09/2024 04:08 PM http://www.businesswire.com/news/home/20241209614914/enOne of the standout features of the DJI Flip is its impressive weight of just 249 grams, making it fall within the sub-250 gram category that exempts it from certain regulations in many countries. This allows users to fly the drone without needing to register it with aviation authorities, making it a convenient and hassle-free option for drone enthusiasts.
Hyderabad: In spite of the Telangana govt expected to fall short of its targeted procurement of fine variety paddy (fine rice) from the kharif crop, the state is not allowing fine rice to be brought in from neighbouring states, including Andhra Pradesh, to procurement centres. Recently, as many as 16 lorries of fine variety paddy were stopped in a night in Khammam on the Telangana-AP border. Traders from Andhra Pradesh and Karnataka are trying to sneak in lorries with fine variety paddy into Telangana as the govt here is offering a 500 bonus per quintal of fine variety paddy, in addition to the minimum support price. The Congress govt needs 36 lakh metric tonnes (LMT) of the fine variety paddy for supply through ration shops. After milling, the state gets 24 lakh metric tonnes of rice. The 24 LMT fine rice is the annual requirement of Telangana to supply rice through ration shops to over 89 lakh ration card holders. If the state falls short of the targeted 36 LMT of fine variety paddy procurement from kharif, it would have to make alternate arrangements to fill up the gap. Till date, the govt has procured 18.07 lakh metric tonnes of fine variety paddy from farmers, and major arrivals of paddy are likely to come to an end by Dec 31. Over 300 check posts armed with CCTV cameras have been set up on the Telangana-AP, Telangana-Karnataka borders and other states. Traders have expressed their ire over the state govt not allowing their paddy-laden trucks to enter Telangana. "As per rules, rice millers have to mandatorily mill 50% of the govt-given paddy, and the remaining 50% they can purchase from the market and mill it," a trader said. However, officials said the main reason for traders flocking to Telangana with paddy stocks is due to the 500 bonus. The name of the farmer, details of the location where paddy was produced, and generation of OTP on the farmer's mobile number are some of the measures being implemented by the civil supplies corporation to check paddy from other states being sold at procurement centres. Civil supplies commissioner DS Chauhan said the 500 bonus was meant only for Telangana farmers and that they would manage fine rice supplies to ration shops as ‘sanna biyyam' (fine rice) in huge quantities was expected to be procured from the ensuing rabi crop too. Chief minister A Revanth Reddy has already announced that the 500 bonus would be extended to fine variety paddy for the ensuing rabi crop too. Stay updated with the latest news on Times of India . Don't miss daily games like Crossword , Sudoku , Location Guesser and Mini Crossword .
Tether’s Secretive $2 Million Move: Unveiling the Mystery Behind Their Venture into Web3 and Censorship-Resistant TechMoreover, commercial banks are leveraging technology to streamline the process of pension product sales and improve customer experience. They are developing online platforms and mobile applications that allow customers to easily access information about pension products, compare different options, and make transactions conveniently. By embracing digital innovation, banks can attract tech-savvy customers and provide a seamless and efficient service.
8. Riyad Mahrez (Manchester City) - The Algerian winger has been a key player for Manchester City since joining from Leicester City. Mahrez's contract situation has raised questions about his long-term future at the Etihad Stadium.With a lineup that spans multiple genres and styles, this year's Spring Festival promises to be a cinematic feast for moviegoers. Whether you're a fan of action, fantasy, romance, or comedy, there's something for everyone to enjoy. So grab your popcorn, settle in, and get ready for a moviegoing experience like no other this Spring Festival season.
Australian sailor Matt Wearn will ponder his Olympic future during a 12-month spell from his dual gold-medal winning class. Wearn was Australia’s joint flag bearer at the closing ceremony of this year’s Paris Games after becoming the first man to successfully defend an Olympic dinghy title. But the 29-year-old is taking time away from the dinghy while deciding if he has motivation to return to the class for the 2028 Olympics in Los Angeles. Wearn will pursue professional opportunities and other aspects of the sport in a plan supported by his coach Rafa Trujillo. “Rafa and I discussed the plan before the (Paris) Games as we felt it was critical to the lead-in,” Wearn said. “We decided it was important to take at least 12 months away from the ILCA (dinghy). “This time will allow me to explore different aspects of sailing, delve into the professional side of the sport and figure out if the drive and hunger for LA are still there.” Wearn’s Paris Olympic triumph in the dinghy, previously known as the laser class, followed recovery from a bad bout of long COVID-19 two years ago. The illness was combined with the shorter three-year turnaround between his gold medal win at the Tokyo Olympics of 2021 and the Paris Games. “With everything compressed into the three years between Tokyo and Paris, I haven’t had proper time off in a while,” he said. “It has been tough but having a holiday with my wife Emma and just stepping away to let everything sink in has been super nice. “At times it still hits me, especially when people introduce me at events now as a two-time Olympic gold medallist. “It sort of gives me goosebumps and makes me realise what I’ve achieved.” Wearn, who recently was inducted into the Australian sailing Hall of Fame and also nominated for the world sailor of the year, will dabble with other sailing disciplines. “I’m getting into foiling ... and continuing to get out on the wing foil, I can stay out for half an hour or three hours, that’s the nice bit at the moment, just enjoying it and learning something new,” he said. “Obviously, coming from the ILCA I don’t have too much exposure to foiling and that’s the way the sport is going. It has been that steep learning curve and I’m enjoying that challenge. “I’m also teaming up with John Bertrand for the Etchell Worlds in January (in Melbourne) which could be a stepping stone into professional sailing overseas such as TP52 or RC44 racing. “Enjoying being a normal person over the Christmas period with family, not having a jet off to events. “(I am) going to take it easy and enjoy being at home for once in summer, which will be a refreshing change from the usual hectic schedule.”
Furthermore, it is recommended to be vigilant during the massage session and speak up if anything feels uncomfortable, painful, or unusual. It is important to remember that your health and safety should always come first, and it is okay to refuse or request modifications to any techniques that you are not comfortable with.I am an unabashed admirer of President Joe Biden. He has done a remarkably good job for the American people. But I am deeply disappointed by . I respect and admire the president’s devotion to his son and feel great sympathy for the Shakespearian dilemma he faced ahead of Hunter’s sentencing. This is a president who has made devotion to duty and . Thus, pardoning Hunter can be viewed as the understandable act of a loving father, especially one worried about a . But I still think it was the wrong decision. Biden’s choice gives credence to that justice under his predecessor was tainted by favoritism toward his friends and animus toward his political opponents. Trump’s spokesperson, Steven Cheung, . “The failed witch hunts against President Trump,” he said in a statement, “have proven that the Democrat-controlled DOJ and other radical prosecutors are guilty of weaponizing the justice system. That system of justice must be fixed... which is exactly what President Trump will do as he returns to the White House with an overwhelming mandate from the American people.” Trump followed suit on Truth Social: “Does the Pardon given by Joe to Hunter include the J-6 Hostages, who have now been imprisoned for years? Such an abuse and miscarriage of Justice!” This should be seen for what it is: an effort to tee up to grant clemency to the people who tried to prevent the peaceful transfer of power. Nothing Hunter was accused of doing compares to that. And I also believe there is credence to the president’s claim — echoed by legal analysts like Joyce Vance — that Hunter was singled out because of his family. Indeed, it looked for a time that serious punishment, as others in his situation typically do. That plea deal fell apart, however, and Hunter was ultimately convicted on three felony charges related and for the lie he told “on a mandatory gun-purchase form by saying he was not illegally using or addicted to drugs.” That trial featured, what the AP called, “deeply personal testimony from former romantic partners and embarrassing evidence such as text messages and photos of Hunter Biden with drug paraphernalia or partially clothed.” Still, the president stood by his son. A few hours after the verdict in the Delaware case, the president . It was a courageous and admirable thing for a father to do. At the time, Biden made clear that he was torn between his role as president and as Hunter’s father. “I am the President, but I am also a Dad,” . But it seemed he had resolved that tension by leaning into his presidential duties and putting the interests of the nation first. Even before the verdict, the president had volunteered that “he would not pardon his son Hunter.” When ABC’s David Muir asked him if he “would rule out a pardon for Hunter,” Biden said “yes.” One week later, that “I will not pardon him,” and Jill Biden also . Then, in September, Hunter appeared in a federal court in Los Angeles to face charges of three felony tax offenses and six misdemeanor tax offenses. He pled guilty. Hunter was due to be sentenced in Delaware on Dec. 12. He could have faced up to 25 years in prison, “though as a first-time offender he likely would not have gotten anything like that or even been sentenced to prison.” Three days later he was to return to Los Angeles where faced a maximum penalty of 17 years in prison. Meanwhile, the White House continued to insist that the president would not pardon him. Fox News notes that between July and November, White House press secretary Karine Jean-Pierre . All the while, , Biden had “discussed pardoning his son with some of his closest aides at least since Hunter Biden’s conviction in June.” Those reports indicate that “it was decided at the time that he would publicly say he would not pardon his son, even though doing so remained on the table.” This is hardly a reassuring note for the president’s supporters. Last night’s pre-emptive act of mercy covers any offenses Hunter Biden has “committed or may have committed or taken part in during the period from January 1, 2014, through December 1, 2024.” Notably, the pardon only applies to federal charges; it does not preclude Trump’s allies at the state level from bringing charges. Still, this decision feels unprecedented. While other presidents , this is the first time any commander in chief has granted clemency to their child. In his statement about the pardon, the president that Americans “will understand why a father and a President would come to this decision.” I do understand why Joe Biden, who so would do what he did. But understanding it does not make it right. In the end, this is a gift to Donald Trump, and a blow to whatever confidence Americans in our political and legal institutions. It risks feeding what I fear is a growing cynicism about politics and their . Democrats still have not recovered from Trump’s election, and this makes them look like hypocrites as they . Loyalty, it turns out, matters to Biden too.
In addition, a rate hike could have implications for the global economy, particularly in the context of the ongoing trade tensions between the United States and China. A stronger yen resulting from higher interest rates in Japan could impact Japanese exports and global supply chains, potentially exacerbating trade tensions and slowing down global growth.Ivanka Trump celebrated Christmas Eve at Mar-a-Lago, where her father, President-elect Donald Trump , took on the role of DJ, as told by sources to Page Six. The festive spirit continued into Christmas night, with Ivanka sharing a stunning photo on social media . She dazzled in a one-shoulder, form-fitting black dress adorned with a dramatic white flower print, capturing the essence of holiday glamour at the exclusive club. Also Read: Vivek Ramaswamy steps in as Sriram Krishnan's controversial views on immigration spark debate Christmas Eve at Mar-a-Lago A spy revealed to Page Six that Ivanka entered her dad’s private Christmas party in a “form-fitting, below-the-knee, all-white dress with bare shoulders, but long sleeves” at the Palm Beach club. She was reportedly accompanied by her husband, Jared Kushner and and their three children. The insider shared with the outlet, “Melania wore a perfectly fitted chic black pantsuit with discrete jewellery and her large diamond wedding ring.” A source revealed that the tickets to the party went out for a whopping $ 350 a pop. Regarding who was there at the gathering and who was not, the insider said, “No Elon, no Don Jr. and his gf, no Eric and Lara Trump... the family arrived at 7:30 p.m. and left at 9:00 p.m.” However, Trump Jr. and Anderson were spotted at the family Christmas celebration the next day where the latter appeared in a red dress. Also Read: Family feud turns violent at Phoenix airport on Christmas Day, 3 shot and 1 stabbed Donald Trump plays DJ at the party The source revealed to the outlet, “The president played a serious set and was very into the music.” About the presidential playlist, the source shared that it included artists like “Andrea Bocelli [singing the] theme from ‘Phantom of the Opera” along with the 1966 Elvis Presley holiday tune–If Everyday Was Like Christmas. The source further shared, “He closed his set with ‘Y.M.C.A.’ and some of the crowd jumped up and started doing ‘the Trump dance. The President-elect [also] started doing his signature dance and the room burst into applause and cheers. The ballroom was filled, but not overcrowded, because the size of these holiday events is being limited.” The source added, “There were no toasts by [Trump], but Ivanka was observed raising her glass and saying something with a smile to her father and Melania.” Trump is also known to DJ every night during the dinners via his iPad.The great liberaliser: Manmohan Singh dies at 92
