Julius Randle (New York Knicks) with a 2-pointer vs the Charlotte Hornets, 04/20/2021
Julius Randle (New York Knicks) with a 2-pointer vs the Charlotte Hornets, 04/20/2021
Novavax CEO Stanley Erck says the company is resolving production issues, will present U.S. safety and effectiveness data soon.
Afghan translators fear the Taliban will kill them after the U.S. leaves.
Image Source: Getty / PA Images Prince Harry and Oprah Winfrey have partnered up as cocreators and executive producers on a new mental health series titled The Me You Can't See. The series will be a "multi-part documentary series focusing on mental illness and mental wellness" and is set to premiere on Apple TV+ on May 21.
The Howard Hughes Corporation® (NYSE: HHC) (the "Company," "HHC" or "we") announced today operating results for the first quarter ended March 31, 2021. The financial statements, exhibits and reconciliations of non-GAAP measures in the attached Appendix and the Supplemental Information, as available through the Investors section of our website, provide further detail of these results.
NEWTON, Kan., May 10, 2021 (GLOBE NEWSWIRE) -- Park Aerospace Corp. (NYSE - PKE) announced that it plans to release its financial results for its 2021 fiscal year fourth quarter and for its full fiscal year ended February 28, 2021 before the New York Stock Exchange opens on Thursday, May 13, 2021. The Company will conduct a conference call to discuss such results at 11:00 a.m. EDT on the same day. Forward-looking and other material information may be discussed in this conference call. The conference call dial-in number is (844) 466-4114 in the United States and Canada and (765) 507-2654 in other countries and the required passcode is 6667586. A live audio webcast, along with presentation materials, will be available at https://edge.media-server.com/mmc/p/bk4uvktb at 11:00 a.m. EDT on Thursday, May 13, 2021. The presentation materials will also be available at approximately 9:00 a.m. EDT on Thursday, May 13, 2021 at https://parkaerospace.com/shareholders/investor-conference-calls/ and on the Company’s website at www.parkaerospace.com under “Investor Conference Calls” on the “Shareholders” page. For those unable to listen to the call live, a conference call replay will be available from approximately 2:00 p.m. EDT on Thursday, May 13, 2021 through approximately 11:59 p.m. EDT on Wednesday, May 19, 2021. The conference call replay can be accessed by dialing (855) 859-2056 in the United States and Canada and (404) 537-3406 in other countries and entering passcode 6667586 and will be available at https://edge.media-server.com/mmc/p/bk4uvktb Any additional material financial or statistical data disclosed in the conference call will also be available at the time of the conference call on the Company’s web site at www.parkaerospace.com/shareholder/investor-conference-calls/. Park Aerospace Corp. develops and manufactures solution and hot-melt advanced composite materials used to produce composite structures for the global aerospace markets. Park’s advanced composite materials include film adhesives (undergoing qualification) and lightning strike materials. Park offers an array of composite materials specifically designed for hand lay-up or automated fiber placement (AFP) manufacturing applications. Park’s advanced composite materials are used to produce primary and secondary structures for jet engines, large and regional transport aircraft, military aircraft, Unmanned Aerial Vehicles (UAVs commonly referred to as “drones”), business jets, general aviation aircraft and rotary wing aircraft. Park also offers specialty ablative materials for rocket motors and nozzles and specially designed materials for radome applications. As a complement to Park’s advanced composite materials offering, Park designs and fabricates composite parts, structures and assemblies and low volume tooling for the aerospace industry. Target markets for Park’s composite parts and structures (which include Park’s proprietary composite SigmaStrut™ and AlphaStrut™ product lines) are, among others, prototype and development aircraft, special mission aircraft, spares for legacy military and civilian aircraft and exotic spacecraft. Park’s objective is to do what others are either unwilling or unable to do. When nobody else wants to do it because it is too difficult, too small or too annoying, sign us up. Additional corporation information is available on the Company’s web site at www.parkaerospace.com. Contact: Donna D’Amico-Annitto486 North Oliver Road, Bldg. ZNewton, Kansas 67114(316) 283-6500
- PLN-74809 Phase 2a PET Imaging Trial Continues to Enroll with Preliminary Data Expected First Half of 2021 - PLN-74809 Phase 2a 12-week trials in IPF and PSC Currently on Track to Complete Enrollment by the End of 2021 and First Half of 2022, Respectively SOUTH SAN FRANCISCO, Calif., May 10, 2021 (GLOBE NEWSWIRE) -- Pliant Therapeutics, Inc. (Nasdaq: PLRX) (“the Company”), a clinical stage biotechnology company focused on discovering and developing novel therapeutics for the treatment of fibrosis, today provided a corporate update and reported first quarter 2021 financial results. “During the first quarter, we continued the strong momentum of advancing our broad and novel clinical and development-stage portfolio,” said Bernard Coulie, M.D., Ph.D., President and Chief Executive Officer of Pliant Therapeutics. “With this progress and a financial runway taking us into 2023, we are well positioned to advance toward our objective of bringing potentially transformative treatments to patients in need.” First Quarter and Recent Highlights PLN-74809 Phase 2a positron emission tomography (PET) imaging trial preliminary data expected in the first half 2021. This open-label, dose ranging trial is evaluating target receptor occupancy levels of PLN-74809 in the lungs of IPF patients across multiple single-dose cohorts utilizing a PET tracer of the integrin αvβ6. The goal of the trial is to confirm the ability of PLN-74809, a dual selective inhibitor of αvβ6/αvβ1, to penetrate highly fibrotic areas of the lung where αvβ6 expression is highest and bind to its target receptor. Additionally, the trial will establish a pharmacokinetic/ pharmacodynamic (PK/PD) relationship between PLN-74809 plasma exposure and αvβ6 receptor occupancy, allowing us to build a PK/PD model that will inform dose selection in later stage trials.PLN-74809 Phase 2a INTEGRIS trial in idiopathic pulmonary fibrosis (IPF) continued to build momentum, currently on track to complete enrollment by the end of 2021. The primary endpoints of this 12-week randomized, dose-ranging, double-blind, placebo-controlled trial are the evaluation of PLN-74809’s safety, tolerability, and pharmacokinetics in IPF patients. The Company will also evaluate exploratory efficacy endpoints including Quantitative Lung Fibrosis, or QLF, imaging as well as pulmonary function tests.PLN-74809 Phase 2a INTEGRIS trial in primary sclerosing cholangitis (PSC) continued to advance, currently on track to complete enrollment in the first half 2022. The primary endpoints of this 12-week randomized, dose-ranging, double-blind, placebo-controlled trial are the evaluation of PLN-74809’s safety, tolerability, and pharmacokinetics in PSC patients. The Company will also evaluate exploratory efficacy endpoints including fibrosis biomarkers such as Pro-C3 and ELF, changes in ALP, and liver imaging.Successful completion of PLN-1474 Phase 1 trial and transfer of PLN-1474 to Novartis. The Phase 1 trial of PLN-1474 was a safety, tolerability, and pharmacokinetics dose-escalating first-in-human trial that enrolled 84 healthy volunteers. PLN-1474 was rapidly absorbed and well tolerated with no dose-or treatment-limiting toxicities or severe/ serious adverse events observed. In preclinical studies, PLN-1474 was observed to selectively block the αvβ1 integrin-mediated activation of TGF-β, reducing liver fibrosis in animal models. Following the successful completion of this study, PLN-1474 has been transferred to Novartis. COVID-19 PreparednessThe Company continues to develop and maintain policies and procedures to enable us to operate safely and productively during the COVID-19 pandemic. The Company has experienced delays in clinical trial operations which have impacted and may further impact the expected timing of data readouts. The Company continues to work closely with clinical sites to continue site initiation and operation activities in compliance with study protocols while observing government and institutional guidelines. First Quarter 2021 Financial Results Research and development expenses were $18.5 million, as compared to $13.9 million for the prior-year quarter. The increase was due primarily to employee related expenses and higher costs related to the advancement of several programs and ongoing Phase 1/2 clinical trials.General and administrative expenses were $6.6 million, as compared to $4.0 million for the prior-year quarter. The increase was due to higher personnel-related and professional services expenses.Net loss of $22.9 million as compared to a net income of $11.0 million for the prior-year quarter due to a decrease in related party revenue driven by the achievement of a first-patient-first-dose milestone in the first quarter of 2020 for the PLN-1474 Phase 1 trial.As of March 31, 2021, the Company had cash, cash equivalents and short-term investments of $264.1 million. The Company believes it has sufficient funds to meet its operating and capital requirements into 2023. About Pliant Therapeutics, Inc. Pliant Therapeutics is a clinical stage biopharmaceutical company focused on discovering and developing novel therapies for the treatment of fibrosis. Pliant's lead product candidate, PLN-74809, is an oral small-molecule dual selective inhibitor of αvß6 and αvß1 integrins that is in development in the lead indications for the treatment of idiopathic pulmonary fibrosis, or IPF, and primary sclerosing cholangitis, or PSC. PLN-74809 has received Orphan Drug Designation from the U.S. Food and Drug Administration for both IPF and PSC. Pliant is currently recruiting Phase 2a trials of PLN-74809 in the lead indications of IPF, PSC. Pliant has also developed PLN-1474, a small-molecule selective inhibitor of αvß1 for the treatment of nonalcoholic steatohepatitis, or NASH with liver fibrosis, which Pliant has transferred to Novartis pursuant to our development partnership. In addition to clinical stage programs, Pliant currently has two preclinical programs targeting oncology and muscular dystrophies. For additional information about Pliant Therapeutics, visit www.pliantrx.com and follow us on Twitter, LinkedIn, Facebook, and YouTube. Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "anticipate," "estimate," "intend," and similar expressions (as well as other words or expressions referencing future events, conditions, or circumstances) are intended to identify forward-looking statements. These statements include those regarding our product candidates, including their development and therapeutic potential, the advancement of our clinical and preclinical pipeline, including the timing, enrollment and results of our clinical trials, the impact of the ongoing COVID-19 pandemic on our business, operations, clinical trials, clinical supply and plans and our financial position and cash runway. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Pliant Therapeutics could differ materially from those described in or implied by the statements in this press release. These forward-looking statements are subject to risks and uncertainties, including those related to the development and commercialization of our product candidates, including any delays in our ongoing or planned preclinical or clinical trials, the impact of the ongoing COVID-19 pandemic on our business, operations, clinical supply and plans, the risks inherent in the drug development process, the risk that we may not realize the intended benefits of our collaboration, the risks regarding the accuracy of our estimates of expenses and timing of development, our capital requirements and the need for additional financing, and our ability to obtain and maintain intellectual property protection for our product candidates. These and additional risks are discussed in the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K filed with the SEC on March 16, 2021, as updated by our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, which we are filing with the SEC today, each available on the SEC's website at www.sec.gov. Unless otherwise noted, Pliant is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. Investor and Media Contact:Christopher KeenanVice President, Investor Relations and Corporate CommunicationsPliant Therapeutics, Inc.email@example.com Pliant Therapeutics, Inc.Condensed Statements of Operations(Unaudited)(In thousands, except number of shares and per share amounts) Three Months EndedMarch 31, 2021 2020Revenue — related party$2,174 $28,938 Operating expenses: Research and development(18,527) (13,919)General and administrative(6,566) (4,011)Total operating expenses(25,093) (17,930)(Loss) income from operations(22,919) 11,008 Interest and other income (expense), net63 21 Net (loss) income$(22,856) $11,029 Less: Undistributed earnings to preferred stockholders— (11,029)Net loss attributable to common stockholders$(22,856) $— Net loss per share, attributable to common stockholders: Basic$(0.64) $— Diluted$(0.64) $— Shares used in computing net loss per share attributable to common stockholders: Basic35,645,205 1,897,669 Diluted35,645,205 1,897,669 Comprehensive income (loss): Net income (loss)$(22,856) $11,029 Net unrealized gain (loss) on short-term investments$14 $60 Total other comprehensive income14 60 Comprehensive income (loss)$(22,842) $11,089 Pliant Therapeutics, Inc.Condensed Balance Sheets(Unaudited)(In thousands) March 31,2021 December 31,2020Assets Current assets Cash and cash equivalents$50,819 $50,882 Short-term investments213,281 226,012 Accounts receivable2,174 9,279 Tax credit receivable83 83 Prepaid expenses and other current assets4,180 4,498 Total current assets270,537 290,754 Property and equipment, net4,266 4,321 Other non-current assets451 451 Total assets$275,254 $295,526 Liabilities and Stockholders’ Equity Current liabilities Accounts payable$2,886 $2,023 Accrued liabilities7,364 9,576 Total current liabilities10,250 11,599 Other long-term liabilities835 866 Total liabilities11,085 12,465 Stockholders’ equity Common stock3 3 Additional paid-in capital404,868 400,918 Accumulated deficit(140,684) (117,828)Accumulated other comprehensive loss(18) (32)Total stockholders’ equity264,169 283,061 Total liabilities and stockholders’ equity$275,254 $295,526
White House press secretary Jen Psaki said Monday that the Biden administration would not “take a stance in the middle of negotiations.”
This all-in-one, must-have Shark is priced to move.
Callaway Golf Company (the "Company" or "Callaway") (NYSE:ELY) announced today its financial results for the first quarter ended March 31, 2021.
ISG (Nasdaq: III) today announced its Board of Directors has approved the initiation of a quarterly cash dividend to holders of ISG common stock.
Washington Prime Group Inc. (NYSE: WPG) today reported financial and operating results for the first quarter ended March 31, 2021. The Company’s financial statements have been prepared assuming that the Company will continue as a going concern. The Company’s management has stated that there exists substantial doubt about the Company’s ability to continue as a going concern as defined by generally accepted accounting principles.
Q1 2021 revenue of $70.2 million, down 11% over Q1 2020Net loss of $6.3 million, or $0.08 per share Media margin of $24.9 million, up 4% over Q1 2020 and representing 35.4% of revenue Adjusted EBITDA of $4.7 million, representing 6.7% of revenue Adjusted net income of $0.4 million, or $0.00 per share NEW YORK, May 10, 2021 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported financial results for the first quarter ended 2021. Ryan Schulke, Fluent’s Chief Executive Officer, commented, "We are motivated and energized as we accelerate the strategic transition of our business through our Traffic Quality Initiative. We see a clear, long-term strategic opportunity to fundamentally deliver a higher quality experience for consumers, enhance Fluent’s brand equity with our clients, and build enterprise value for our stakeholders. Our first quarter results were consistent with the ranges we had indicated and reflect the investments we are making to achieve our strategic vision and position Fluent as an industry leader.” First Quarter Financial Summary Q1 2021 revenue of $70.2 million, down 11% over Q1 2020Net loss of $6.3 or $0.08 per share, compared to net income of $0.4 million, or $0.01 per share, in Q1 2020Media margin of $24.9 million, an increase of 4% over Q1 2020 and representing 35.4% of revenueAdjusted EBITDA of $4.7 million, representing 6.7% of revenueAdjusted net income of $0.4 million, or $0.00 per share Media margin, adjusted EBITDA and adjusted net income are non-GAAP financial measures, as defined and reconciled below. Business Outlook Monetization, as measured by media margin per registration, which was up two-fold in-year 2020 (Q4 vs. Q1), remains robust in 2021, enabled by investments in technology and analyticsClient demand on Fluent’s performance marketplace continues to be strong, supporting our strategic transitionTraffic Quality Initiative reducing revenue during transition to higher value strategyContact center capability continues to exceed expectationsNew $65.0 million credit facility closed March 31, 2021, reducing effective interest rate by 500 bps, enhancing financial flexibility and extending maturity to 2026 Conference Call Fluent, Inc. will host a conference call on Monday, May 10, 2021 at 4:30 PM ET to discuss its 2021 first quarter financial results. To listen to the conference call on your telephone, please dial (888) 339-0797 for domestic callers, or (412) 317-5248 for international callers. To access the live audio webcast, visit the Fluent website at investors.fluentco.com. Please login at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required. Following completion of the earnings call, a recorded replay of the webcast will be available for those unable to participate. To listen to the telephone replay, please dial (877) 344-7529 or (412) 317-0088 with the replay passcode 10156110. The replay will also be available for one week on the Fluent website at investors.fluentco.com. About Fluent, Inc. Fluent (NASDAQ: FLNT) is a leading performance marketing company with expertise in creating meaningful connections between consumers and brands. Leveraging our proprietary first-party database of opted-in consumer profiles, Fluent drives intelligent growth strategies that deliver superior outcomes. Founded in 2010, the company is headquartered in New York City. For more information, visit www.fluentco.com. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 The matters contained in this press release may be considered to be “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Those statements include statements regarding the intent, belief or current expectations or anticipations of Fluent and members of our management team. Factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the following: compliance with a significant number of governmental laws and regulations, including those laws and regulations regarding privacy and data; the outcome of litigation, regulatory investigations or other legal proceedings in which we are involved or may become involved; failure to safeguard the personal information and other data contained in our database; failure to adequately protect intellectual property rights or allegations of infringement of intellectual property rights; unfavorable global economic conditions, including as a result of health and safety concerns around the ongoing COVID-19 pandemic; dependence on our key personnel; dependence on third-party service providers; management of the growth of our operations, including international expansion and the integration of acquired business units or personnel; the impact of the Traffic Quality Initiative, including our ability to replace lower quality consumer traffic with traffic that meets our quality requirements; ability to compete and manage media costs in an industry characterized by rapidly-changing internet media and advertising technology, evolving industry standards, regulatory uncertainty, and changing user and client demands; management of unfavorable publicity and negative public perception about our industry; failure to compete effectively against other online marketing and advertising companies; competition we face for web traffic; dependence on third-party publishers, internet search providers and social media platforms for a significant portion of visitors to our websites; dependence on emails, text messages and telephone calls, among other channels, to reach users for marketing purposes; liability related to actions of third-party publishers; limitations on our or our third-party publishers’ ability to collect and use data derived from user activities; ability to remain competitive with the shift to mobile applications; failure to detect click-through or other fraud on advertisements; impact of increased fulfillment costs; failure to meet our clients’ performance metrics or changing needs; compliance with the covenants of our credit agreement; and the potential for failures in our internal control over financial reporting. These and additional factors to be considered are set forth under “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in our other filings with the Securities and Exchange Commission. Fluent undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results or expectations. FLUENT, INC.CONSOLIDATED BALANCE SHEETS(Amounts in thousands, except share and per share data)(unaudited) March 31, 2021 December 31, 2020 ASSETS: Cash and cash equivalents$32,660 $21,087 Accounts receivable, net of allowance for doubtful accounts of $268 and $368, respectively 58,004 62,669 Prepaid expenses and other current assets 3,303 2,435 Total current assets 93,967 86,191 Restricted cash 1,480 1,480 Property and equipment, net 2,025 2,201 Operating lease right-of-use assets 7,875 8,284 Intangible assets, net 43,097 45,417 Goodwill 165,088 165,088 Other non-current assets 1,755 1,559 Total assets$315,287 $310,220 LIABILITIES AND SHAREHOLDERS' EQUITY: Accounts payable$13,484 $7,692 Accrued expenses and other current liabilities 24,175 31,568 Deferred revenue 1,935 1,373 Current portion of long-term debt 6,250 7,293 Current portion of operating lease liability 2,278 2,291 Total current liabilities 48,122 50,217 Long-term debt, net 43,848 33,283 Operating lease liability 6,849 7,290 Other non-current liabilities 4,259 2,545 Total liabilities 103,078 93,335 Contingencies Shareholders' equity: Preferred stock — $0.0001 par value, 10,000,000 Shares authorized; Shares outstanding — 0 shares for both periods — — Common stock — $0.0005 par value, 200,000,000 Shares authorized; Shares issued — 82,228,823 and 80,295,141, respectively; and Shares outstanding — 78,173,812 and 76,349,274, respectively 41 40 Treasury stock, at cost — 4,055,011 and 3,945,867 shares, respectively (10,623) (9,999)Additional paid-in capital 413,958 411,753 Accumulated deficit (191,167) (184,909)Total shareholders' equity 212,209 216,885 Total liabilities and shareholders' equity$315,287 $310,220 FLUENT, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(Amounts in thousands, except share and per share data)(unaudited) Three Months Ended March 31, 2021 2020 Revenue$70,170 $78,934 Costs and expenses: Cost of revenue (exclusive of depreciation and amortization) 50,990 56,624 Sales and marketing (1) 2,961 2,830 Product development (1) 3,434 2,731 General and administrative (1) 11,699 11,076 Depreciation and amortization 3,373 3,733 Total costs and expenses 72,457 76,994 (Loss) income from operations (2,287) 1,940 Interest expense, net (1,008) (1,532)Loss on early extinguishment of debt (2,964) — (Loss) income before income taxes (6,259) 408 Income tax benefit 1 — Net (loss) income$(6,258) $408 Basic and diluted (loss) income per share: Basic$(0.08) $0.01 Diluted$(0.08) $0.01 Weighted average number of shares outstanding: Basic 81,892,593 78,604,280 Diluted 81,892,593 78,753,770 (1) Amounts include share-based compensation expense as follows: Sales and marketing$163 $218 Product development 268 237 General and administrative 800 1,942 Share-based compensation$1,231 $2,397 FLUENT, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in thousands)(unaudited) Three Months Ended March 31, 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES: Net (loss) income$(6,258) $408 Adjustments to reconcile net (loss) income to net cash provided by (used in) by operating activities: Depreciation and amortization 3,373 3,733 Non-cash loan amortization expense 202 356 Share-based compensation expense 1,231 2,397 Non-cash loss on early extinguishment of debt 2,198 — Non-cash accrued compensation expense for Put/Call Consideration 1,746 — Provision for bad debt (99) 183 Changes in assets and liabilities, net of business acquisition: Accounts receivable 4,764 (280)Prepaid expenses and other current assets (868) (23)Other non-current assets (196) (113)Operating lease assets and liabilities, net (45) (43)Accounts payable 5,792 (5,720)Accrued expenses and other current liabilities (7,393) (1,501)Deferred revenue 562 386 Other (32) (30)Net cash provided by (used in) operating activities 4,977 (247)CASH FLOWS FROM INVESTING ACTIVITIES: Capitalized costs included in intangible assets (816) (625)Acquisition of property and equipment (20) (7)Net cash used in investing activities (836) (632)CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of long-term debt, net of debt financing costs 49,624 — Repayments of long-term debt (41,736) (2,998)Exercise of stock options 934 — Prepayment penalty on debt extinguishment (766) — Taxes paid related to net share settlement of vesting of restricted stock units (624) (416)Repurchase of treasury stock — (1,300)Net cash provided by (used in) financing activities 7,432 (4,714)Net increase (decrease) in cash, cash equivalents and restricted cash 11,573 (5,593)Cash, cash equivalents and restricted cash at beginning of period 22,567 20,159 Cash, cash equivalents and restricted cash at end of period$34,140 $14,566 Definitions, Reconciliations and Uses of Non-GAAP Financial Measures The following non-GAAP measures are used in this release: Media margin is defined as revenue minus cost of revenue (exclusive of depreciation and amortization) attributable to variable costs paid for media and related expenses. Media margin is also presented as percentage of revenue. Adjusted EBITDA is defined as net (loss) income excluding (1) income taxes, (2) interest expense, net, (3) depreciation and amortization, (4) loss on early extinguishment of debt, (5) accrued compensation expense for Put/Call Consideration, (6) share-based compensation expense, (7) acquisition-related costs, and (8) certain litigation and other related costs. Adjusted net income is defined as net (loss) income excluding (1) loss on early extinguishment of debt, (2) accrued compensation expense for Put/Call Consideration, (3) share-based compensation expense, (4) acquisition-related costs, and (5) certain litigation and other related costs. Adjusted net income is also presented on a per share (basic and diluted) basis. Below is a reconciliation of media margin from net (loss) income, which we believe is the most directly comparable GAAP measure. Three Months Ended March 31, 2021 2020 Net (loss) income$(6,258) $408 Income tax benefit (1) — Loss on early extinguishment of debt 2,964 — Interest expense, net 1,008 1,532 Depreciation and amortization 3,373 3,733 General and administrative 11,699 11,076 Product development 3,434 2,731 Sales and marketing 2,961 2,830 Non-media cost of revenue (1) 5,690 1,603 Media margin$24,870 $23,913 Revenue$70,170 $78,934 Media margin % of revenue 35.4% 30.3% (1) Represents the portion of cost of revenue (exclusive of depreciation and amortization) not attributable to variable costs paid for media and related expenses. Below is a reconciliation of adjusted EBITDA from net (loss) income, which we believe is the most directly comparable GAAP measure. Three Months Ended March 31, 2021 2020 Net (loss) income$(6,258) $408 Income tax benefit (1) — Interest expense, net 1,008 1,532 Depreciation and amortization 3,373 3,733 Loss on early extinguishment of debt 2,964 — Accrued compensation expense for Put/Call Consideration 1,746 — Share-based compensation expense 1,231 2,397 Acquisition-related costs — 47 Certain litigation and other related costs 668 907 Adjusted EBITDA$4,731 $9,024 Below is a reconciliation of adjusted net income and adjusted net income per share from net (loss) income, which we believe is the most directly comparable GAAP measure. Three Months Ended March 31, (In thousands, except share data)2021 2020 Net (loss) income$(6,258) $408 Loss on early extinguishment of debt 2,964 — Accrued compensation expense for Put/Call Consideration 1,746 — Share-based compensation expense 1,231 2,397 Acquisition-related costs — 47 Certain litigation and other related costs 668 907 Adjusted net income$351 $3,759 Adjusted net income per share: Basic$0.00 $0.05 Diluted$0.00 $0.05 Weighted average number of shares outstanding: Basic 81,892,593 78,604,280 Diluted 84,144,209 78,753,770 We present media margin, adjusted EBITDA, adjusted net income and adjusted net income per share as supplemental measures of our financial and operating performance because we believe they provide useful information to investors. More specifically: Media margin, as defined above, is a measure of the efficiency of the Company’s operating model. We use media margin and the related measure of media margin as a percentage of revenue as primary metrics to measure the financial return on our media and related costs, specifically to measure the degree by which the revenue generated from our digital marketing services exceeds the cost to attract the consumers to whom offers are made through our services. Media margin is used extensively by our management to manage our operating performance, including evaluating operational performance against budgeted media margin and understanding the efficiency of our media and related expenditures. We also use media margin for performance evaluations and compensation decisions regarding certain personnel. Adjusted EBITDA, as defined above, is another primary metric by which we evaluate the operating performance of our business, on which certain operating expenditures and internal budgets are based and by which, in addition to media margin and other factors, our senior management is compensated. The first three adjustments represent the conventional definition of EBITDA, and the remaining adjustments are items recognized and recorded under GAAP in particular periods but might be viewed as not necessarily coinciding with the underlying business operations for the periods in which they are so recognized and recorded. These adjustments include certain litigation and other related costs associated with legal matters outside the ordinary course of business, including costs and accruals related to the NY AG and FTC matters. Items are considered one-time in nature if they are non-recurring, infrequent or unusual and have not occurred in the past two years or are not expected to recur in the next two years, in accordance with SEC rules. There were no adjustments for one-time items in the periods presented. Adjusted net income, as defined above, and the related measure of adjusted net income per share exclude certain items that are recognized and recorded under GAAP in particular periods but might be viewed as not necessarily coinciding with the underlying business operations for the periods in which they are so recognized and recorded. We believe adjusted net income affords investors a different view of the overall financial performance of the Company than adjusted EBITDA and the GAAP measure of net income. Media margin, adjusted EBITDA, adjusted net income and adjusted net income per share are not intended to be performance measures that should be regarded as an alternative to, or more meaningful than, net (loss) income as indicators of operating performance. None of these metrics are presented as measures of liquidity. The way we measure media margin, adjusted EBITDA and adjusted net income may not be comparable to similarly titled measures presented by other companies and may not be identical to corresponding measures used in our various agreements. Contact Information: Investor RelationsFluent, Inc.(917) 310-2070InvestorRelations@fluentco.com
Helios Technologies (Nasdaq: HLIO) First Quarter 2021 Revenue Grew 58% Reflecting Strong Market Leadership; Augmented Strategy Gaining Traction
SNY announced that WFAN's “Carton & Roberts” will make its SNY television debut in May and will be live on SNY Monday through Friday in the afternoons.
Laverne Cox will host the network's "Live From E!" which covers Hollywood's biggest events including the Grammys and Oscars.
How the Japanese rice sprinkle took over the world.
“It's like they have a sign on the side of the house that says: 'Bees Welcome, Please Move In'"
Few outside the Midwestern region have heard of the family-friendly pizza chain Happy Joe's Pizza and Ice Cream, but the company's CEO Tom Sacco thinks that may change very soon. According to him, the brand is the "best unsung restaurant story in the country today," and one he hopes to expand nationwide with 1,000 new locations in the next decade.Happy Joe's, which has been around since 1972, currently operates 52 locations across Iowa, Illinois, Missouri, Minnesota, North Dakota, and Wisconsin. But since Sacco became its CEO last November, the company is on a rejuvenated growth path. So far, the chain has opened four new restaurants under his leadership, and while that may seem like a modest number, it represents more growth than the brand has seen in the last five years.RELATED: This Popular Mediterranean Chain Is Opening 50 New Locations This YearAnd Sacco has already taken several steps to clear the obstacles to major growth, like bettering the company's relationship with franchisees and making the undertaking more profitable for small business owners."I'm looking forward to sharing it with thousands and thousands of families and hundreds and hundreds of thousands of guests around this country in the years to come," he said of the brand to QSR Magazine.According to the publication, the pizza chain is a hit in the Midwest, thanks to its vast array of top-quality pizza options (including breakfast and dessert pizzas), a huge selection of ice creams, a lunchtime buffet, as well as its ability to provide a nostalgic value for customers."The brand has been designed and has evolved to create these emotional connections with families. Particularly with the children in the family," Sacco says, comparing the Happy Joe's emotional appeal to that of In-n-Out Burger on the West Coast.For more on, check out This Beloved Pizza Chain Is Opening 200 New Locations This Year, and don't forget to sign up for our newsletter to get the latest restaurant news delivered straight to your inbox.
Academy Sports and Outdoors, Inc. ("Academy") (NASDAQ: ASO) announced today, effective immediately, the appointments of Beryl B. Raff to its Board of Directors (the "Board") and Compensation Committee and Wendy A. Beck, currently a member of the Board and its Audit Committee, as a member and chairperson of the Nominating & Governance Committee. Academy also announced today that Vishal V. Patel and Aileen X. Yan, both designees of affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR"), have resigned from the Board, effective immediately, following a reduction in KKR's holdings in Academy through a secondary public offering that closed today. As a result of these changes, Academy's Board now comprises nine directors, including six independent directors.
On Monday, Medina Spirit will head to Baltimore under a cloud of scrutiny. The Kentucky Derby winner tested positive for the anti-inflammatory drug betamethasone at the first leg of the Triple Crown, Hall of Fame trainer Bob Baffert said Sunday morning, and now faces a potentially historic disqualification. Baffert, who said his team never treated the colt with the drug, still plans to run him ...